Nicolas Maduro is stepping up pressure on Venezuelan banks to speed up digitalization because of hyperinflation, Reuters writes President Nicolas Maduro of the Bolivarian Republic of Venezuela wants to speed up the implementation of digital payments. This was reported by…
Russian artist-calligrapher Pokras Lampas has sold his Chirkei hydroelectric power station photo token with a projection of the author’s canvas for ₽2 million. Russian artist-calligrapher Pokras Lampas has joined the NFT haip by selling a non-interchangeable token for 16 ETH…
The developers of the Ethereum ecosystem reached a consensus on the implementation of the technological update of the blockchain operation of this digital asset: the implementation of the EIP-1559 protocol or the hardfork called “London” is scheduled for July this…
Financial crisis caused by coronavirus epidemic motivates women to change their field of activity and go to professional trading and become women traders. Stocks and cryptocurrencies: where do Russian women traders earn? Kommersant’s latest research shows that the stock market…
A group of digital art enthusiasts tokenized the work of famous artist Banksy with NFT and burned the original, hosting an online broadcast. Will a flame ignite from a spark? Cryptospace is increasingly gripped by a new mania – fever…
Ukrainian pizzeria Mister Car announced that the pizza can now be paid for in cryptocurrency. Ukrainian pizzeria Mister Car began to accept bitcoin as a means of payment. It is reported on the official page of the company on Facebook.…
Two major institutional companies Fidenlity and Citi presented their views on the No. 1 cryptocurrency. Jurrien Timmer, director of macro policy at Fidelity Investments, a 26-year veteran of the organization, said bitcoin can be a financial instrument that can provide…
Cryptocurrency fans continue to test different devices for mining Ethereum (ETH). Mine on PS5 can earn you more then 50$ in week! It is generally believed that game consoles are poorly designed for mining cryptocurrencies. However, the Chinese craftsmen were able to bypass this limitation. After all, PS5, in fact, the same computer with a hybrid AMD Ryzen processor on the Zen 2 microarchitecture and RDNA 2 graphics. As it turned out, experts were able to run Etherium mining at 98.76 megahes per second. At the same time, the console consumes 211 watts. It should be noted that the native performance of the console is at the level of AMD Radeon RX 5700 XT with 50 megaches per second. So the actual doubling of the mining power may indicate overclocking or serious modifications of the console. Mining on PS5: the investment is worth it According to CryptoCompare, you can make about $46 a week with this kind of performance, with the PlayStation 5 now costing $499. Earlier, Gu Yifan adapted a MacBook Air with an Apple M1 chip to mine ether. The BeInCrypto editorial board reported that mining ETH on an Apple laptop is unprofitable. The device’s hardware is capable of providing performance at only 2 megacaches per second with a power consumption of 20 watts. Thus, at the current rate of Ethereum, you can earn only $0.14 per day on a MacBook Air.
Michael van de Poppet, a trader at the Amsterdam Stock Exchange, believes bitcoin will appreciate in the long term. In his opinion, the key price levels that the cryptocurrency may overcome in the foreseeable future are $53,000 and $63,000. If we talk about a short-term correction, the expert believes that investors will actively buy the cryptocurrency No 1, if it will be in the price range of 47.5 to 48.4 thousand dollars. If cryptocurrency No 1 is still able to go below $47,500, then Bitcoin will then test the “bottom” around $ 38,000. The trader also has a positive attitude towards Ethereum. According to his estimates, the altcoin could potentially be within $ 4,000 to $ 5,000 as early as this summer. Cryptoquant data on crypto exchanges’ reserves show that the flow of bitcoins to trading platforms has now decreased by almost half compared to the level of early February. This suggests that there is not a big trend among investors to fix profits, even despite the fact that at the end of February 18 bitcoin once again updated the historical high, rising to 52.547 thousand dollars. Former White House Communications Director Anthony Scaramucci joined the optimists about bitcoin. Speaking on CNBC he said that “I look to the future and see a good chance that bitcoin will be able to beat the $100,000 level by the end of this year. Billionaire Tim Draper points out that bitcoin’s capitalization has already reached one trillion dollars and believes it will continue to grow.
Rafael SchulzeKraft, who pioneered the research company Glassnode, shared an important finding: the real bitcoin supply is plummeting. According to his data, since 2017, the number of unavailable to buy and sell such digital assets has grown faster than the amount of available liquid assets of this type, even though miners were mining first 1,800 bitcoins each day and then 900 bitcoins each day, as they are now.Speaking about the current situation, the analyst estimated that there are about 3 million bitcoins, which he categorized as “highly liquid.” There is also a notional reserve of such assets in the market in the amount of another one million bitcoins, but 14.5 million bitcoins represent assets that are not available for purchase and sale. SchulzeKraft writes that “along with the demand that companies like MicroStrategy, Square, Tesla, and Grayscale have for bitcoins, this supply situation for this digital asset works in favor of its rising price.” Indeed, investors such as MicroStrategy, Square and Grayscale are not just investing in bitcoins, but demonstrating a desire to continue to invest in such digital assets. Collectively, all institutional investors now account for $67 billion invested in bitcoin. Michael Saylor, head of MicroStrategy, commenting on the bitcoin’s return beyond the $50,000 level that was seen on February 25, said that the total market capitalization of cryptocurrencies in the future could reach $100 trillion from the current $1.5 trillion. Jiles Coghlan, a senior market analyst at HYCM, believes that there is a good chance that during a possible correction, the price of bitcoin will not go below the $40,000 level. At the same time, he believes that some altcoins have a chance to outpace bitcoin’s growth rate, at least in the short run. Indeed, other digital assets are now also feeling the influx of investor funds, and bitcoin’s level of market dominance (61.3%) is now noticeably lower than in December 2017.