Tag: bitcoin ftx

Bitcoin Set for More Losses in Wake of FTX’s Collapse if History Is a Guide
3Dec By adminNo Comments
Technology

Bitcoin Set for More Losses in Wake of FTX’s Collapse if History Is a Guide

[ad_1] A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. The largest token sank 16% in November and over the past decade it always went on to have a weak December following declines in the prior month, according to data compiled by Bloomberg. The pattern was evident in 2018, 2019 and 2021, leaving an average December slide of almost 11%. If history repeats, crypto may lag stocks given heightened expectations for this quarter's equity rebound to continue in the run-up to Christmas as the Federal Reserves swivels to smaller interest-rate hikes. “The digital as...
Read More
Crypto Lenders’ Woes Worsen as Bitcoin Miners Struggle to Repay Debt
1Dec By adminNo Comments
Technology

Crypto Lenders’ Woes Worsen as Bitcoin Miners Struggle to Repay Debt

[ad_1] Beleaguered crypto lenders are being dealt another blow from Bitcoin miners as they weather the aftermath of the FTX collapse. Beleaguered crypto lenders are being dealt another blow from Bitcoin miners as they weather the aftermath of the FTX collapse. Miners, who raised as much as $4 billion from mining-equipment financing when profit margins were as high as 90%, are defaulting on loans and sending hundreds of thousands of machines that served as collateral back to lenders. New York Digital Investment Group, Celsius Network, BlockFi Inc., Galaxy Digital, and the Foundry unit of Digital Currency Group were among the biggest providers of funding to finance computer equipment and build data centers. The liquidity crunch hitting digital-asset markets after FTX failed comes a...
Read More
Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’
29Nov By adminNo Comments
Technology

Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’

[ad_1] Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large. Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large.The largest digital coin rose as much as 2% and was trading at about $16,490 as of 7:20 a.m. in London. Second-ranked Ether also posted gains, while meme token Dogecoin surged 10% at one point. bitcoin The crypto lender unraveled in the wake of the chaotic demise of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research. But the crypto world is nervously watching for further fallout from FTX, with the spotlight trained on the likes of struggling brokerage Genesis.“The credit contagion is fa...
Read More
Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX
23Nov By adminNo Comments
Technology

Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX

[ad_1] Pick a number and cross your fingers. Crypto naysayers who argue that’s the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector. Pick a number and cross your fingers. Crypto naysayers who argue that's the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector.Over the past few days, long-term targets for the world's largest token by market value have ranged from $5,000 at strategists BCA Research Inc. to $1 million by 2030 for Ark Investment Management's Cathie Wood.  The cavernous spread reflects the gnarly question of what further contagion may or may not lie ahead following the evisceration of Sam Bankman-Fried's FTX exchange and trading house Alameda Research, ...
Read More
Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain
18Nov By adminNo Comments
Technology

Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain

[ad_1] There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin. There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin this week.The token is up some 3% over the period, topping global stocks, while a gauge of the leading 100 virtual coins has added about 1%. That compares with Bitcoin's 23% slide last week as Sam Bankman-Fried's FTX empire collapsed. To recap the backdrop: FTX's chaotic bankruptcy left even the man who liquidated Enron Corp. flabbergasted and put the likes of crypto lender BlockFi Inc. on the cusp of their own Chap...
Read More
Bitcoin Split From Global Markets to Slide All on its Own
14Nov By adminNo Comments
Technology

Bitcoin Split From Global Markets to Slide All on its Own

[ad_1] Bitcoin dropped 23% last week, its worst tumble since June, at the same time as the S&P 500 Index soared 5.9%. The distress spread across cryptocurrencies by the meltdown of Sam Bankman-Fried's FTX is fracturing the link the tokens once had with other financial assets, a sign that Bitcoin's influence on global markets may be diminishing.Bitcoin dropped 23% last week, its worst tumble since June, at the same time as the S&P 500 Index soared 5.9%. That helped weaken the correlation between the two to the lowest this year, based on a 20-day study. The performance gap between Bitcoin and the Nasdaq has hit the widest since 2020.  And while major cryptocurrencies turned higher Monday, the gains did little to lift broader market sentiment damped by comments from Federal Reser...
Read More
FTX-Induced Crypto Swoon Saps Bitcoin’s Sway on Global Investors
14Nov By adminNo Comments
Technology

FTX-Induced Crypto Swoon Saps Bitcoin’s Sway on Global Investors

[ad_1] The pain spread across cryptocurrencies by the meltdown of FTX is fracturing the link they once had with other risk assets, a sign that Bitcoin’s influence on investors may be diminishing. The pain spread across cryptocurrencies by the meltdown of Sam Bankman-Fried's FTX is fracturing the link they once had with other risk assets, a sign that Bitcoin's influence on global investors may be diminishing.The idea that Bitcoin was a worthwhile part of a diversified portfolio of risk assets is fraying, with massive losses generated by the revelation that even FTX, until recently considered one of the most blue-chip names in crypto, was unsound. That's a far cry from the start of this year, when Bridgewater estimated that 5% of Bitcoin was held by institutional-level investors.  Bitco...
Read More