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Miners Are The Biggest Risk Facing The Bitcoin Price
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. As Hash Rate Soars, Parallels to 2018 Arise On October 23, bitcoin mining difficulty saw an upwards adjustment of 3.44% (after the previous adjustment of 13.55%), pushing mining difficulty to yet another all-time high as hash rate continues to soar. With the price of bitcoin stagnating at $20,000 give or take for the last few months, we have noticed some parallels […]
The Biggest Alt-Season Since 2017 is Almost Here! Altcoin Market Cap To Surge Beyond $1T?
The crypto space appears to be heating up, as the majority of assets have recently displayed extreme volatility. While the Bitcoin price remains sideways, the altcoins are gearing up, displaying significant bullish momentum. Although the whales and institutional investors have remained calm for a long time, retail traders’ interest has recently increased. Hence the negative & bearish sentiments for the popular altcoins have faded in recent times. The above report also suggests that traders are expecting Bitcoin & popular altcoins to gear up in Q4 2022. Interestingly, sentiments toward Ethereum have become extremely bearish, possibly as a result of the […]
CFTC Handles its Biggest Bitcoin-Related Fraud Scheme Worth $1.7 Billion
The Commodity Futures Trading Commission (CFTC), a U.S. federal regulatory agency, charged a South African citizen and a global foreign currency commodity pool with alleged fraud and registration violations worth nearly $2 billion in BTC. Fraudulent Scheme Raked in $1.7 Billion in Bitcoin According to a press release on Thursday (June 30, 2022), the CFTC issued a civil enforcement action against Cornelius Johannes Steynberg and Mirror Trading International Proprietary Limited (MTI) before the U.S. District Court in the Western District of Texas. The American regulator alleges that Steynberg, who was in control of MTI, was involved in an international fraudulent […]