bitcoin / 326 posts found
Bitcoin Could Drop Another 20 – 40% On a US Recession – Crypto Analyst
Cryptocurrency Summary: Timothy Peterson has forecasted that the United States might already be in a recession. If such is the case, the Bitcoin and crypto markets could drop by an additional 20 – 40%. Bitcoin’s 2017 all-time high of around $20k continues to be the make-or-break level. Bitcoin and crypto analyst, Timothy Peterson of Cane Island Alternative Advisors, has forecasted that the United States might already be in a recession. He shared his analysis of a possible slowdown in the US economy through the tweet below that quoted a CNBC article pointing out that the Atlanta Fed GDP tracker also […]
MicroStrategy’s Bitcoin holdings take a record $3.4 billion hit. The company says it’s playing the long game
Cryptocurrency MicroStrategy’s Bitcoin holdings take a record $3.4 billion hit. The company says it’s playing the long game | Fortune You need to enable JavaScript to view this site. Read More
Bitcoin just had its worst month on record
Bitcoin Bitcoin just finished its worst month on record, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second-biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market, in particular, has been rocked in recent weeks as major companies face solvency crises. In May, the popular U.S. dollar-pegged stablecoin project UST — and its sister token luna — imploded, tallying a $60 billion collective loss. Then in early June, lending firm Celsius, which promised […]
Bitcoin Electricity Consumption Down by 25% Since Early June
Bitcoin Bitcoin’s energy consumption has reportedly declined drastically since only three weeks ago. Estimates from the Cambridge Bitcoin Electricity Consumption Index on Friday show that the network now consumes more than 25% less power than it did at the start of the month. According to the index, Bitcoin’s current electricity consumption is approximately 10.65 gigawatts. That’s down from the 14.34-gigawatt estimate recorded on June 6th. At these levels, Bitcoin estimated annualized power consumption now sits at 93.33 terawatt-hours – down substantially from May’s high of 150 terawatt-hours. The estimates are based on a “profitability threshold” that uses “different types of […]