Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was also higher, climbing above $1,800.
Bitcoin
Bitcoin (BTC) moved away from a recent two-month low on Saturday, as bulls opted to buy the recent dip.
After falling to a low of $25,878.43 on Friday, BTC/USD rose...
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand.
Low Inflation Numbers in China Worry Analysts
China, one of the biggest economies in the world, ha...
The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as possible,” said the IMF’s director of communications.
IMF Warns About U.S. Debt Default
The International Monetary Fund (IMF) has ...
Billionaire investor Elon Musk will be stepping down as chief executive of Twitter and taking on other roles in the company. The owner of the microblogging platform revealed he has hired a new CEO, media executive Linda Yaccarino, who should be at the helm of the social media giant in less than two months’ time.
Elon Musk to Leave CEO Post at Twitter and Become Company’s CTO
Entrepreneur Elon Musk announced he has found someone to replac...
Bitcoin fell to a seven-week low on May 12, as prices dropped below the $27,000 level in today’s session. Friday’s decline came as a red wave swept through cryptocurrencies, with the market cap down 2.75% as of writing. Ethereum also slipped to its weakest point since March.
Bitcoin
Bitcoin (BTC) dropped below the $27,000 level in today’s session, pushing prices to a seven-week low.
Following a high of $27,589.92 on Thursday, BTC/USD sl...
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Cloud mining is one of the newest, most innovative developments in the cryptocurrency space in recent years. It provides an affordable and more accessible entry point into the world of crypto mining. Various cloud mining sites have become popular as the demand for cryptocurrency mining grows. However, among the cloud mining sites that provides convenience, affordability, efficiency and flexibility, one name stands out – Gbitcoi...
A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid asset in the world, is bad for the American people, bad for the dollar, and bad for the U.S. government.”
Goldman Sachs Agrees With Treasury Secretary Yellen ...
U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed.
Looming Economic ‘Mega-Crisis’
Robert F. Kennedy Jr., who launched his presidentia...
On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president’s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets “making crypto miners pay for the costs they impose on others” regarding the environmental impact of crypto mining activities.
Crypto Miners Could Face Gradually Increasing Tax With Biden’s DAME Proposal
W...
Bitcoin rebounded from Tuesday’s losses, as all focus in the market turned to today’s United States Federal Reserve rate decision. It is widely expected that the Fed will hike rates by 25 basis points in May’s meeting. Ethereum also moved higher, nearing $1,900 in the process.
Bitcoin
Bitcoin (BTC) rebounded on Wednesday, as all focus in the market turned to today’s Federal Reserve rate decision .
Following a low of $27,935.73 on T...
