Category Archives: Bitcoin News

Historical Bitcoin Price Trends Are Traditionally Bearish in September, While BTC Market Revivals Follow in October

The bitcoin price data for September shows that bitcoin ( Bitcoin) continues to follow the same trend as it has over the past decade. BTC prices in September are usually terrible and this month is no exception. 3303 days ago, bitcoin prices fell from $240 per bitcoin to $138 per bitcoin. In September 2014, bitcoin prices fell from $240 per unit to $138 per bitcoin. BTC started the month at $482.28. BTC’s USD value dropped that month by 21.79% to $377.18 per unit at the end September 2014.

Similar to 2015, Bitcoin’s September value was higher in the first month and lower thirty days later. In September 2016, BTC saw a drop of 1.41%. In September 2017, BTC saw a decrease in price by 19.64% over the same period. The bitcoin value in the U.S. Dollar fell 8.89% between September 2018 and September 2018. September 2019 BTC experienced a loss of 16.94%. September 2020 was a good month for Bitcoin. It remained bullish and gained approximately 4.81% against U.S. dollars at that time.

Many people will remember what happened in 2021. BTC was at a lower price and bearish sentiment gripped the trading community last September. While BTC experienced a sub-par September 2021, it rebounded in October to reach a lifetime high of $199.99 on November 10, 2021.

Trader’s have been waking up to the possibility of October bulls reviving the price, despite the past decade of bearish September months. Over the past decade, patterns have shown that September is often bearish while October is generally bullish.

Bitcoin Price Changes Sideways, Crypto Traders Wait Fed Rate Hike. October Price Patterns Give Hope

After a short spike before The merge, BTC has dropped in price over the past two weeks. Jim Wyckoff, Kitco.com’s market analyst, noted that BTC markets have been quiet and consolidating.

Wyckoff stated that ‘price action is quieter and more sideways than usual, with bears and bulls on a level technical playing field in the near-term.’ was written September 16. A drop in prices below the September low chart support would give bears new power to suggest a new leg lower in prices.

An analyst stated that a move above chart resistance at the week’s high would provide bulls with power to suggest further gains.

The crypto economy has been closely with U.S. stocks for the past 12 months. Next week, however, the U.S. Federal Reserve expects to increase the benchmark interest rate by 75 base points.

It is possible that bitcoin ( Bitcoins) prices will drop further after the Federal Bank Rate has been raised. As price patterns in the past have indicated, if the crypto economy falls lower, it is possible that October will see a rebound.

Blake Masters’ Bitcoin investments tanked in 2022

Blake Masters, a Republican Senate candidate and Bitcoin evangelist, has invested millions in a variety of cryptocurrencies. According to The Verge financial filings, Masters’ digital investments seem to have declined in value since the cryptocurrency crash.

Masters, protege of billionaire tech investor Peter Thiel disclosed 12 different investments in different cryptocurrencies and platforms last week in a personal financial filing. Masters had $600,000.00 to $1.2million in Bitcoin as of August 15,. This is a drastic decrease from his $1.1-$5.2 million financial disclosures last fiscal year. Masters didn’t disclose any substantial profits from his Bitcoin investments, which suggests a decrease in overall worth rather than a possible sale.

Masters didn’t disclose any significant profits from Bitcoin investments.

Masters currently holds investments in Bitcoin Cash, Ethereum and Filecoin. Masters claimed that Filecoin and Tezos were both cryptocurrencies in which he had earned ‘interest’ over the past year. They claimed to have made between $1001 and $2,500 for each.

Although some cryptocurrencies have stabilized and gained value since June’s lows, Masters has seen its Bitcoin prices decline in line with the wider crash in cryptocurrency prices. Bitcoin is still below 60% in August 2021. Masters’ second-largest Ethereum holding has lost more than 50% of its market price (Masters’ Ethereum value range, $250,000-$500,000, did not change over the past year).

Masters’ campaign didn’t confirm that his assets had declined in value, but suggested to the Vergeon Monday to use his cryptocurrency investments to lend money to his campaign. Masters reported only between $100,001 to $250,000 in loans last week as part of his annual filing. The Verge reached out to the campaign spokesperson but he did not immediately reply.

Masters also revealed more than $300,000. in book royalties from zero to One. This was the Silicon Valley startup guide that Trump-endorsed candidate coauthored with Thiel in 2014.

After a candidate officially announces their candidacy for public office, they must file public financial disclosures each year. Although the disclosures do not require precise investment amounts, candidates must give an estimate range for significant assets investments including cryptocurrency.

Masters is running to unseat Senator Mark Kelly (D-Arizona). He has made cryptocurrency proliferation and federal adoption a key part of his campaign platform. Masters tweeted just before the market crash and compared it to Fort Nakamoto or Fort Knox. Masters offered NFTs to who contributed at least $5,800 to his campaign. He also claims that his campaign takes Bitcoin donations.

Masters stated that Bitcoin’s temporary caving value was only a possibility in a May Fox Businessinterview.

It’s not just crypto that is crashing, Masters said. Masters stated in the interview that everything is going down. But it is true that crypto’s extremely volatile. I tell people not to get involved in crypto. Only buy Bitcoin if they are ready to weather the storm. This is the Wild West.

Credit Cards Should Not Be Used for Crypto Transactions, Taiwan’s Financial Watchdog Says

According to a report, Taiwan’s Financial Supervisory Commission ( FSC), it has instructed credit card issuers as well as banks to prevent customers from using credit cards to pay for transactions related to cryptocurrency.

The watchdog cites the recent crypto market decline as well as persistent concerns over money laundering risk associated with virtual assets. It also refers to the fact that the virtual assets are highly speculative, extremely volatile and highly speculative.

Sources in the financial industry claim that the FSC sent the call to the Bankers Association of Taiwan in a letter earlier in July. The authority did not comment on the initial news, nor denied it. Forkast was later informed by the authority that it had requested credit card agencies to not sign on crypto service providers merchants.

The FSC insisted that credit cards be used as a payment instrument for consumption and not as a means of financial investment or speculative trading. It gave card holders three months to comply. The FSC reminded card holders of a previous requirement, which prohibits credit cards being used in transactions that are linked to stocks, futures and options.

Despite the recent adoption of anti-money laundering rules (AML) for service providers on the market, Taiwan’s crypto industry remains unregulated. It is still not finalizing a project to issue central bank digital currency (CBDC).

As part of ongoing trials of the prototype retail digital currency, the Taiwanese central banks completed a series technical simulations in closed-loop environments in June. The governor of the monetary authorities acknowledged that the bank might need to continue work on the CBDC for two more years than expected.

Industrial Bitcoin Miners Grind To Halt In Texas Amid Energy Shortage

Almost all of Texas’ industrial-scale Bitcoin miners have come to a halt as the state tries to stave off power blackouts amid an intense heatwave, Bloomberg reported on Monday.

Bitcoin miners, including Riot, Argo, and Core Scientific, have shut down millions of computers in response to the heatwave that is expected to cause blackouts. Those Bitcoin miners were lured to Texas by lower energy bills.

Some have estimated that as much as 9% of the world’s cryptocurrency computing power is located in Texas, with America’s largest bitcoin mining operation located in the small town of Rockdale, Texas.

Bitcoin mining is an energy-intensive job. According to Columbia, the industry consumes 150 terawatt-hours of electricity every year-this is more than what the entire country of Argentina, a population of 45 million, consumes. This much energy emits 65 megatons of carbon dioxide every year into the atmosphere.

Earning bitcoin is achieved by computers running a series of complex calculations in order to find a solution to a math problem-a solution which is a string of numbers and letters that ultimately provide security for each Bitcoin transaction. These computers and their calculation efforts, and the cooling necessary to keep the machines running, are a significant drain on Texas’ energy grid, which has been struggling to keep the lights on during times of intense demand.

The Electric Reliability Council of Texas, or ERCOT, asked Texans today to conserve energy amid the heatwave, appealing to both individuals and businesses alike. The target hours for reduced energy consumption are between 2 p.m. and 8 p.m. ERCOT also suggested that there may be rolling blackouts.

This is the second time this year that the grid operator has asked for energy conservation amid a heatwave.

Houston’s mayor Sylvester Turner asked this weekend that city agencies be prepared for a possible power grid failure.

Bitcoin briefly drops below $20,000 again as pressure continues to mount on crypto market

Bitcoin dropped below $20,000 Wednesday due to a variety of factors, from macroeconomic concerns to issues with cryptocurrency businesses.

At 07:36 AM, the world’s biggest cryptocurrency was down more than 4 percent to $20,056.48 According to CoinDesk data, ET. Bitcoin fell to $19,841 earlier on Wednesday.

Other digital coins, including ether, were also significantly lower.

Bitcoin trades within a narrow range over the past two weeks, unable to make any major moves above $22,000

Analysts at Bitfinex stated that bitcoin is currently being guided lower by a narrative that could continue for the remainder of the year. It was one of rising inflation and looming recession.

While inflation continues to rise, central banks continue to aim for more rate hikes creating fears of a recession elsewhere in the U.S.

U.S. stock market fell on Tuesday and futures were under pressure on Wednesday. Bitcoin is closely linked to U.S. stock market movements and tends to follow them lower or greater.

CNBC’s Vijay Ayyar, vice-president of corporate development at Luno and international, said that bitcoin will likely trade between $17,000 to $22,000 for a while due to current market sentiment and an expected interest rate increase from the U.S. Federal Reserve. This is despite the fact that all risk assets are being weighed down.

Ayyar stated that most bounces have been sold off over the past few weeks. These are typically called bear market bounces and are intended to trap buyers who will then sell their positions lower.

Sam Bankman-Fried is the CEO of cryptocurrency exchange FTX and has stepped up to save struggling companies such as BlockFi or Voyager Digital, by offering credit lines.

“The market is taking a break after the fall. The market is still experiencing systemic problems as people continue to prop up different dominoes that can trigger knock-on effects. Charles Hayter, CEO at website CryptoCompare, spoke to CNBC via email.