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$80,000 in Bitcoin mining computers stolen from warehouse in Somerset County

State police said Bitcoin mining computers worth about $80,000 were stolen from a warehouse in Somerset Township, Somerset County.Police said the incident happened in the early morning hours of Nov. 16 at the warehouse on South Center Avenue.Investigators said someone forced their way into a warehouse through a wooden roll-up-style door and removed about 100 Bitcoin mining computers.The burglary also took large amounts of electrical breakers, copper wiring and power strips, as well as video surveillance devices.No arrests have been announced.

State police said Bitcoin mining computers worth about $80,000 were stolen from a warehouse in Somerset Township, Somerset County.

Police said the incident happened in the early morning hours of Nov. 16 at the warehouse on South Center Avenue.

Investigators said someone forced their way into a warehouse through a wooden roll-up-style door and removed about 100 Bitcoin mining computers.

The burglary also took large amounts of electrical breakers, copper wiring and power strips, as well as video surveillance devices.

No arrests have been announced.


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Ethereum ‘Spin-Off’ Rallies 22% Even As Bitcoin, ETH Lose Some Mojo – Ethereum (ETH/USD)

Ethereum Proof of Work ETHW/USD is up 22%, making it the highest performer on CoinMarketCap’s daily gainers’ list.

What Happened: At the time of writing, Ethereum ETH/USD was trading at $1,272, down 1.15%. Apex crypto Bitcoin BTC/USD was trading below the $17,000 mark, down 1.27% in the past 24 hours.

ETHW is an asset born out of Ethereum’s Merge in September. It should be noted that ETH transitioned from proof-of-work to proof-of-stake, making the second largest cryptocurrency far more energy efficient by eliminating the need for miners and replacing them with validators, who stake crypto and don’t utilize expensive energy-intensive machines to secure the network.

See More: Best Crypto Apps

However, ahead of the Merge, Chinese miner Chandler Guo launched a campaign to oppose the move — the result was a completely new cryptocurrency via a hard fork that still uses proof of work mining.

ETHW Foundation said in a tweet that 2.5 months after the fork over 86 million active addresses hold the forked crypto.

Binance said in September that it was releasing an ETHW mining pool for its users, noting that users would not be charged fees until Oct.29 if they participated.

Read Next: Bitcoin, Ethereum, Dogecoin Rallies Screech To Halt: Analyst Sees ‘Healthy Consolidation’ Amid Mixed Economic Data, Tether Worries


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Bitcoin, Ethereum, Dogecoin Rallies Screech To Halt: Analyst Sees ‘Healthy Consolidation’ Amid Mixed Economic Data, Tether Worries – Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD)

The rally in major coins, from earlier in the week, was grinding to a halt on Thursday evening as the global cryptocurrency market cap decreased 1.3% to $853.9 billion.







Price Performance Of Major Coins
Coin 24-hour 7-day Price
Bitcoin BTC/USD -1.2% 2.5% $16,968.44
Ethereum ETH/USD -1.4% 6.5% $1,276.08
Dogecoin DOGE/USD -4.9% 25.8% $0.10







Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency 24-Hour % Change (+/-) Price
EthereumPoW (ETHW) +16.4% $3.90
Trust Wallet Token (FTM) +7.8% $2.30
Dash (DASH) +4.6% ​​$45.32

See Also: A Guide To Automated Crypto Trading For Beginners 

Why It Matters: Bitcoin and Ethereum were both trading in the red along with other risk assets. S&P 500 and Nasdaq futures were down 0.3% and 0.4%, respectively, at the time of writing. 

The weakness in risk assets came as investors turned their attention to the upcoming Labor Department’s report on nonfarm payrolls, due on Friday morning (EST). 

Nonfarm payrolls are expected to rise by 200,000 jobs in November after rising by 261,000 in October.

Meanwhile, economic activity in the manufacturing sector shrank in November for the first time since May 2020 after seeing 29 consecutive months of growth according to the latest Manufacturing ISM Report on Business. The Manufacturing PMI was at 49% — 1.2 percentage points lower than the 50.2% recorded in October.

“The weakening jobs data could be having an impact on the Federal Reserve’s stance, and hence could lead to the stock market and crypto rising sooner than many predict,” said Marcus Sotiriou, an analyst with GlobalBlock — a digital asset broker.

Edward Moya, a senior market analyst with OANDA, said on price rise: “The trends are clear for inflation, but the big question mark is if the labor market is going to have a broader slowdown.  Tomorrow’s NFP report will be important as it could move forward bets that inflation will continue to decline.”

“Cryptos are struggling today as the earlier rally faded ahead of NFPs and concerns brew that Tether loans could be the next big risk for the cryptoverse. Stablecoins are an important part of the crypto world and if one of the major ones breaks, that will send Bitcoin and Ethereum to new lows,” said Moya in a note seen by Benzinga.

Bitcoin “tested the resistance, took the high and corrects after a terrible ISM PMI of 49.0,” said Michaël van de Poppe. 

“Probably just some healthy consolidation before continuation on the trading takes place. Long still exists,” said the trader.

The dollar index, a measure of the greenback’s strength against a basket of six currencies, was seen trading 1.15% lower at 104.73 at the time of writing.

“Seems like we’ll finally get that 103 $DXY retest this month or next. This is partly why I think risk assets have a bit higher to go here,” said the trader Justin Bennett.

A CryptoQuant analyst shared four time periods where Bitcoin’s percentage of supplies in profit dropped and the percentage of supplies in losses rose. The charts indicated periods of time where Bitcoin’s price historically has seen its market bottoms and included a 7-month period leading up to the present from May 2022.

Read Next: 2 Reasons Bitcoin Could ‘Crash To Ground Level’ According To Morgan Creek’s Yusko


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Bitcoin dips below $17,000 ahead of October jobs data

After a short rally above $17,000, bitcoin
BTCUSD,
+0.19%

has dipped to $16,959.93, a change of -0.70% over the past 24 hours, according to CoinDesk.

“Right now it is kind of stabilizing around that $16,000 level. It did a rally above $17,000 and that was something that was providing decent resistance. But there isn’t really fresh capital coming into this space. A lot of this stabilization period we’re seeing is people abandoning their short bets,” said Edward Moya, senior market analyst at OANDA, to MarketWatch.

Moya says monthly jobs data for October released on Friday is going to be critical for what’s going to happen to crypto assets, and that the big question will be if the labor market is going to have a broader slowdown.

The recent implosion of crypto exchange FTX, which filed for chapter 11 bankruptcy in mid-November, has also put pressure on regulators to better govern the crypto industry.

Earlier Thursday, Rostin Behnam, the chairman of the Commodity Futures Trading Commission, called for “comprehensive” rules to avoid another situation similar to FTX, but next steps regarding regulation remain unclear.

Stocks also ended mostly lower on Thursday, with the Dow Jones Industrial Average
DJIA,
-0.56%

shedding 0.6%, the S&P 500 index
SPX,
-0.09%

falling 0.1% and the Nasdaq Composite Index
COMP,
+0.13%

climbing 0.1%.

Bitcoin is down 63.7% on the year through Thursday, according to CoinDesk.


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Bitcoin Near $17,000; EthereumPoW, GMX Among Top Gainers – Bitcoin (BTC/USD), Dash (DASH/USD)

Crypto prices traded slightly higher this morning, with Bitcoin BTC/USD, the most valued cryptocurrency in the world, approaching the $17,000 level on Thursday.

Ethereum ETH/USD also edged higher, trading above the key $1,200 level.

EthereumPoW ETHW/USD was the top gainer over the prior 24 hours, while BinaryX BNX/USD turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $852.92 billion, recording a 24-hour gain of 0.2%. BTC was trading higher by 0.9% at $16,986, while ETH rose by around 0.3% to $1,269 on Thursday.

Here are the top ten crypto gainers and losers over the past 24 hours:



Gainers

Price: $3.60

24-hour gain: 9.5%

Price: $49.49

24-hour gain: 7.3%

Price: $0.2526

24-hour gain: 6.9%

Price: $0.9217

24-hour gain: 5.8%

Price: $44.88

24-hour gain: 4.3%



Losers

Price: $131.46

24-hour drop: 5.2%

Price: $2.30

24-hour drop: 4.2%

Price: $6.66

24-hour drop: 3.8%

Price: $1.10

24-hour drop: 3.1%

Price: $0.1011

24-hour drop: 2.9%


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The Bitcoin Experiment, which made MIT Students Rich

In 2014, MIT’s Dan Elitzer and Jeremy Rubin ran an experiment where they gave every interested student $100 worth of Bitcoin. That is roughly $300 per coin. The $100 worth of Bitcoin that the lucky students received today would be worth more than $14,000

Rubin, a sophomore in computer sciences, came up with an idea for the project after being involved in a legal battle against the New Jersey attorney general. Rubin recalls Rubin’s creation of Tidbit, a cryptocurrency mining program. However, the state thought that Rubin was actually “installing malicious software on people’s computers”.

He was awarded an innovation award for his project but cryptocurrency was still very young in 2014. Bitcoin’s popularity as a payment system for illegal transactions via the dark web was particularly problematic.

How two MIT students brought Bitcoin into the mainstream

Rubin teamed up with Dan Elitzer from MIT’s Sloan School of Management, an MBA student. In a matter of months, the pair had amassed half a multimillion dollars in donations from MIT alumni as well as other supporters interested. Rubin and Eitzer used the funds as a way to give $100 worth of Bitcoin to any MIT student who was interested. It involved 3,108 students.

Rubin stated that “we wanted Bitcoin to be out in the wider world more, and to spread technology.” “We also wanted the opportunity to research what it takes to distribute a brand new asset.”

In order to receive Bitcoin, participants had to complete a questionnaire. Setting up one’s crypto wallet was more complicated in 2014 and many students offered their help.

Van Phu, a former student, and the co-founder, of crypto broker FloatingPoint, offered the service for students who were not able to open their own wallets. Phu said, “A lot of students would pay the rest of the Bitcoin if they set it up for them.”

But the bitcoin Phu accumulated with his labor was quickly lost at a local sushi joint. It was the only restaurant that at the time accepted digital currency. “I spent most of my crypto on sushi.”

Bitcoin’s mysterious early days

Rubin was interested in starting the Bitcoin experiment at MIT due to frustration over the lack of knowledge about cryptocurrency and Bitcoin in general. Cryptocurrency has become the forefront of finance only in recent years. Bitcoin and cryptocurrency in general, particularly, were still poorly understood just ten years ago.

Bitcoin’s early users were described by research paper helper as a “cypherpunk,” a neo-anarchic bent. Many of them used their deep knowledge of computer science to pursue their own ends. The token’s intimidating reputation of anonymity and avoiding traceability as well as its complicated transaction system created an aura of fear that repelled many technology users.

This sentiment is evident in Rubin’s New Jersey attorney general’s probe. He was accused of hacking for his passion for developing crypto-currency software.

Bitcoin’s early mysteries were also ignited by one crucial fact. There was no identifiable face or name to link to the coin’s creation. Bitcoin enthusiasts and developers could only point to a false identity, a pseudonymous person as the originator of the token. “Satoshi Nakamoto” was that identity.

Although the name “Satoshi Nakamoto” is generally credited as the founder of Bitcoin, further investigation revealed that there was no biography or personal information.

Satoshi Nagmoto was linked to Bitcoin in 2008 after a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System was published. The paper laid the foundations for cryptocurrency. It explained the fundamentals of how digital currency would function. Bitcoin’s website says that Nakamoto invented Bitcoin from Wei Dai’s idea.

The Bitcoin website claims that Bitcoin is the first to implement a concept called Cryptocurrency. It was first described by Wei Dai, a cypherpunks member, in 1998. He suggested the idea of an innovative form of money that relies on cryptography to manage its creation and transactions rather than a central authority.


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US Institutional Investors Flocking Back To Bitcoin – Is The Bottom In?

Originally posted here.
By: Jake Simmons

Overview

The Bitcoin price has seen a minor rally after yesterday’s speech by US Federal Reserve chairman Jerome Powell. The price rose above $17,000, driven by the statement that smaller rate hikes are likely imminent and could begin in December. Ultimately, analysts see a 50 basis point hike in December almost a lock. The FED was merely trying not to make it look dovish, but it will come, was the tenor of the market. On Wall Street, the remarks were met with applause. The Dow Jones and the S&P500 saw a strong relief rally. This euphoria also spread to the crypto market in a muted form. Related Reading: Bitcoin Price Clears $17K, Why Dips Turn Attractive In Short-Term Bitcoin was trading at $17.119 at press time and now faces resistance at $17,197. If this can be overcome, a push into the $17,800 to $18,000 region would be possible, where massive resistance could lurk. US Institutional Demand For Bitcoin Is Coming Back As CrytoQuant CEO and founder Ki Young Ju noted, market sentiment among large investors in the United States is recovering. Ju comes to this conclusion as the hourly BTC price premium on Coinbase has turned positive for the second time since the FTX bank run. The Coinbase Premium Index has long been a reliable indicator of sentiment among institutional investors for the crypto community. It also includes institutional investors, of which Coinbase has the majority, according to its report for the third quarter of this year. The index is rising due to increased trading volume on the exchange, which indicates a return of confidence in Bitcoin from institutional investors. Related Reading: Binance Market Share Allegedly Hits 77%; Criticism Grows As Even Jack Dorsey Speaks Out As NewsBTC reported, there is still one major concern for the market at the moment: a possible bankruptcy of Genesis Trading and DCG. However, these rumors scattered in recent days. The companies are believed to have only a solvable liquidity problem, and not an insolvency issue. Bottom In Or More Pain? However, continued selling pressure from a second Bitcoin miner capitulation within the current cycle is looming and likely to cloud the positive outlook. As we have reported, miner capitulation is in full swing. According to CryptoQuant, about 4,000 BTC of selling pressure was added by miners this week. The company’s data shows that miner transfers to exchanges picked up as the price fell from about $20,000 to about $16,000. In addition, miners’ BTC reserves have fallen by 13,000 BTC since the end of August. They are now at roughly the same level as they were at the beginning of 2022. Capriole Investments’ Charles Edwards noted: We are seeing the 3rd highest Bitcoin miner selling of all time. The level of Bitcoin miner stress today is seconded only by 2 other occasions. The 2 other times? Bitcoin was just $290 and, get this… $2.10!

The Post

The Bitcoin price has seen a minor rally after yesterday’s speech by US Federal Reserve chairman Jerome Powell. The price rose above $17,000, driven by the statement that smaller rate hikes are likely imminent and could begin in December.

Ultimately, analysts see a 50 basis point hike in December almost a lock. The FED was merely trying not to make it look dovish, but it will come, was the tenor of the market.

On Wall Street, the remarks were met with applause. The Dow Jones and the S&P500 saw a strong relief rally. This euphoria also spread to the crypto market in a muted form.

Bitcoin was trading at $17.119 at press time and now faces resistance at $17,197. If this can be overcome, a push into the $17,800 to $18,000 region would be possible, where massive resistance could lurk.

Bitcoin price, 4-hour chart. Source: TradingView

US Institutional Demand For Bitcoin Is Coming Back

As CrytoQuant CEO and founder Ki Young Ju noted , market sentiment among large investors in the United States is recovering. Ju comes to this conclusion as the hourly BTC price premium on Coinbase has turned positive for the second time since the FTX bank run.

Source: noted

The Coinbase Premium Index has long been a reliable indicator of sentiment among institutional investors for the crypto community. It also includes institutional investors, of which Coinbase has the majority, according to its report for the third quarter of this year.

The index is rising due to increased trading volume on the exchange, which indicates a return of confidence in Bitcoin from institutional investors.

As NewsBTC reported , there is still one major concern for the market at the moment: a possible bankruptcy of Genesis Trading and DCG. However, these rumors scattered in recent days. The companies are believed to have only a solvable liquidity problem, and not an insolvency issue.

Bottom In Or More Pain?

However, continued selling pressure from a second Bitcoin miner capitulation within the current cycle is looming and likely to cloud the positive outlook. As we have reported , miner capitulation is in full swing.

According to CryptoQuant, about 4,000 BTC of selling pressure was added by miners this week. The company’s data shows that miner transfers to exchanges picked up as the price fell from about $20,000 to about $16,000.

In addition, miners’ BTC reserves have fallen by 13,000 BTC since the end of August. They are now at roughly the same level as they were at the beginning of 2022.

Capriole Investments’ Charles Edwards noted :

We are seeing the 3rd highest Bitcoin miner selling of all time. The level of Bitcoin miner stress today is seconded only by 2 other occasions. The 2 other times? Bitcoin was just $290 and, get this… $2.10!


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Bitcoin Price and Ethereum Prediction; Huobi Token Pumps Over 25%

The cryptocurrency market has exhibited a slight recovery, with Bitcoin, the leading cryptocurrency, jumping more than 2.5% to $16,815 after getting rejected at the $17,250 resistance level. Similarly, Ethereum, the second-most valuable cryptocurrency, is rising, reaching $1,286 after violating a symmetrical triangle pattern.

Major cryptocurrencies were trading positively early on December 1, as the global crypto market capitalization increased 0.56 percent in the previous day to $861.06 billion. 

Over the last 24 hours, overall crypto market volume grew 5.03 percent to $49.73 billion. The overall volume in DeFi was $3.43 billion, accounting for 6.90 percent of the total 24-hour volume in the crypto market. 

The overall volume of all stablecoins was $47.01 billion, accounting for 94.53 percent of the total 24-hour volume of the crypto market.

Let’s take a look at the top 24-hour altcoin gainers and losers.

Top Altcoin Gainers and Losers

GMX (GMX), Polygon (MATIC), and Zcash (ZEC) are three of the top 100 coins that have gained value in the last 24 hours. The GMX price has soared by more than 12% to $48.80, the MATIC price has grown by more than 6% to $0.9275, and the ZEC price has increased by nearly 5.5%.

Top Altcoin Gainers and Losers – Source: Coin360 

ApeCoin (APE), Fantom (FTM), and Helium (HNT) are three of the top 100 coins that have lost value in the last 24 hours. Whereas APE has lost over 7% to trade at $3.97, FTM is down nearly 2.25% to trade at $0.2345. At the same time, the HNT price is down over 3% to trade at $2.45.

Kraken to Lay off 30% of Its Global Workforce

According to a corporate blog post published on Wednesday, US-based cryptocurrency exchange Kraken will lay off 30% of its global employees, or over 1,100 individuals, to “adjust to current market conditions.”

Since the beginning of this year, financial markets have been under pressure for macroeconomic and geopolitical reasons.

Kraken wrote.

 “As a direct result, we saw a precipitous drop in trading volumes and new client sign-ups. Unfortunately, bad things have kept happening on the market, and we’ve used up all the good ways to change prices to meet demand.” 

As a result of these layoffs, Kraken’s overall workforce is back to where it was a year ago, the business claimed. 

After the recent failure of the cryptocurrency exchange FTX.com in the Bahamas, which has dragged down cryptocurrency markets and threatened businesses with exposure to FTX (including crypto lender BlockFi Inc., which filed for bankruptcy this week), Kraken has taken this action.

Auros Global Misses DeFi Payment due to FTX Contagion

After failing to make a principal repayment on a 2,400 Wrapped Ether (wETH) decentralized finance (DeFi) loan, cryptocurrency trading firm Auros Global looks to be infected with the FTX virus.

On November 30, M11 Credit, an institutional credit underwriter that oversees liquidity pools on Maple Finance, tweeted to its followers that the Auros had failed to make a principal payment on a 2,400 wETH loan worth around $3 million.

According to M11 Credit, Auros is facing a “short-term liquidity crisis as a result of the FTX insolvency,” The company has been in constant contact with its borrowers, especially in light of recent events. 

Maple Finance has retweeted the thread, but algorithmic trading and market-making business Auros has yet to respond to M11 Credit’s claims.

M11 Credit has also stated that the loan is not defaulted because of the delayed payment. Instead, a “5-day grace period as per the smart contracts” has been activated because of the late payment. 

This means that the deadline for Auros to make the late payment and avoid default is December 5.

Given this news, the market is still determining whether to maintain the bullish trend or wait for a correction.

Bitcoin Price 

The current Bitcoin price is $16,815, and the 24-hour trading volume is $24 billion. During the last 24 hours, the BTC/USD pair has gained nearly 2.5%, while CoinMarketCap currently ranks first with a live market cap of $323 billion, down from $323 billion yesterday. 

It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,220,518 BTC coins.

Bitcoin Price & Tokenomics – Source: coinmarketcap

The BTC/USD is trading with a bullish bias on Thursday, but it has reached an overbought zone, and the double top pattern is extending resistance near the $17,255 level. A bullish breakout of the $17,255 level could lead Bitcoin to the next resistance levels of $17,600 and $18,000.

Bitcoin Price Chart – Source: Tradingview

Because the RSI and MACD are in the overbought zone, a bearish correction under $17,250 is possible. On the downside, Bitcoin’s immediate support is at $16,700, which can fall as low as $16,250. 

Ethereum Price 

The current price of Ethereum is $1,286, with a 24-hour trading volume of $8 billion. In the last 24 hours, Ethereum has gained nearly 1%. CoinMarketCap currently ranks #2, with a live market cap of $157 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price & Tokenomics – Source: coinmarketcap

On the 4-hour timeframe, Ethereum has been trading strongly bullish, but it is now encountering strong resistance at the $1,310 level. The formation of the tweezers’ top pattern is weakening the bullish trend and may lead to a bearish market correction.

On the downside, Ethereum’s immediate support is likely at around $1,225, which can go as low as $1,150.

Ethereum Price Chart – Source: Tradingview

On the other hand, a bullish breakout of the $1,310 level could expose the ETH price to the $1,354 level.

Huobi Token Pumps Over 25%

Huobi Token is now trading at $6.85 with a 24-hour trading volume of $16 billion. In the last 24 hours, Huobi Token has been down 1.5% but it has gained over 25% in the last seven days. CoinMarketCap now ranks #39, with a live market cap of $1,050,454,242 USD. There are 153,357,694 HT coins in circulation, with a maximum supply of 500,000,000 HT coins.

HT Price Chart – Source: Tradingview

On the technical front, the HT/USD pair is facing immediate resistance at $7.40, with a break above this level potentially exposing HT to the $8.35 level.

On the upside, a break above $8.35 has the potential to lead to $9. A bearish breakout of the $6.6 level, on the other hand, could extend selling to $6.10 or $5.10.

Presale Cryptocurrency With Massive Profit Potential

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.

Dash 2 Trade has been a success as well, with two exchanges (LBank and BitMart) promising to list the D2T token once the presale is completed. 1 D2T is currently worth 0.0513 USDT, but at the end of the sale, this will increase to $0.0533.

D2T has raised over $7.6 million so far by selling over 87% of its tokens.

Visit Dash 2 Trade now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews




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Purpose Bitcoin ETF (TSE:BTCC.B) Trading 3.1% Higher


Purpose Bitcoin ETF (TSE:BTCC.BGet Rating)’s stock price traded up 3.1% on Wednesday . The company traded as high as C$3.37 and last traded at C$3.36. 234,321 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 809,119 shares. The stock had previously closed at C$3.26.

Purpose Bitcoin ETF Price Performance

The business’s 50-day simple moving average is C$3.71 and its two-hundred day simple moving average is C$4.15.

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