Bitcoin Rate at Mt. Gox Falls Below $500
Proof of how quickly things change in the world of bitcoin, the very exchange seemingly most of the community was quoting (at over $1200) late last year is the same exchange to fall below the $500 mark. As of this writing, the bitcoin rate at Mt. Gox is about $484, with a day low of $480 - the lowest it's been this year. That comes in as a 44 percent price drop in the last 30 days, according to chart data. The decrease in value of bitcoin at Mt. Gox stems from the recent halt of withdrawals, and some reports suggest that Gox customers are even selling their bitcoins stored on the exchange....
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Magnr, formerly BTC.sx - a bitcoin derivatives trading platform - has rebranded and is now offering bitcoin saving accounts with an interest rate fixed at 2.18% for a promotional period of six months. Following this, the interest rate will be variable, dependent on trading fees generated by users on the platform. Magnr declined to reveal its trading volume but said that it had surpassed 60,000 total trades earlier this year. When asked about the potential implications of bitcoin's price volatility on users' interest rates, Josh Blatchford, chief marketing officer at Magnr, emphasized that....
Hash rate plays a vital role in every Proof-of-Work (PoW) blockchain. It measures the computational drive for all transaction verification and block additions to the network. Hence, the Bitcoin hash rate represents the number of people involved in BTC mining. As the number of miners increases, the hash rate will also increase. This results in maintaining the security and stability of the Bitcoin ecosystem. Many investors will consider hash rates before engaging in any project. Before now, the BTC price and hash rate have maintained a direct proportionality relation. This is because there....
CPI inflation data exceeded market expectations, maintaining a near 40-year high of 8.3% as bitcoin falls below its $30,000 line of support.
On Wednesday, the U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) in order to tame inflation and stabilize the American economy. The recent rate hike is the U.S. central bank’s third rate increase after increasing the benchmark rate by 50 bps last March. Fed Hikes Rate by 75 bps for a Second Time in a Row to Tame Inflation, Central Bank Says ‘Inflation Remains Elevated’ With inflation scorching hot in America, the U.S. Federal Reserve has raised the federal funds rate once again, increasing it by 75 bps on Wednesday afternoon at 2:00 p.m.....
Bitcoin Custodians Facing Liquidity Crisis As Price Falls