The public miners' share of the Bitcoin (BTC) network could grow to 40% by mid-2023, according to a new report by Hashrate Index. But this could bring more stress to an already bearish BTC market. Public Bitcoin miners' hash rate jumps 295% in a year The outlook appeared after assessing the hash rate performance of Core Scientific, Marathon Digital Holdings, Riot Blockchain, and other public miners in the last 12 months. Notably, these firms increased their hashing capacity to 58 EH/s in October 2022 from 15 EH/s a year ago — up 295%. In comparison, the private miners' Bitcoin hashrate …

Bitcoin (BTC) returned to local highs at the Oct. 25 Wall Street open as nervous analysts kept an eye on miners. DXY provides instant relief for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising to offer a modest challenge to resistance, still unable to escape an established trading range. United States equities likewise headed modestly higher, the S&P 500 and Nasdaq Composite Index up 1% and 1.3%, respectively at the time of writing. The U.S. dollar index (DXY) conversely lost ground on the day, falling to its lowest levels since Oct. 6 and providing potential tailwinds for …

Bitcoin (BTC) “will break out significantly” in the next month, with an upside target of $30,000. That was the latest prediction from Michaël van de Poppe, founder and CEO of trading firm Eight. Analyst on November price target: "My guess is probably $30K" In a tweet on Oct. 25, Van de Poppe joined a growing number of analysts delivering bullish BTC price forecasts. BTC/USD is currently marked by a distinct lack of volatility, but signs are flowing in that the sideways trend is due a major shake-up. Bitcoin’s Bollinger Bands versus the Nasdaq are the tightest in history, popular analyst …

Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so. According to an Oct. 24 report from KPMG China and Aspen Digital titled “Investing in Digital Assets,” as much as 58% of family offices and HNWI of respondents in a recent survey are already investing in digital assets, and 34% “plan to do so.” The survey took the pulse from 30 family offices and HNWIs …

Ethereum’s long-awaited Merge took place in September, shifting it from a legacy proof-of-work (POW) model to the sustainable proof-of-stake (PoS) consensus algorithm. Many observers expected Ether’s (ETH) price to respond positively as its daily emissions declined 90% with the halt of mining operations. However, the expected price surge never occurred. In fact, Ether has been down by over 7% since the upgrade. So why didn’t the Merge drive up the coin’s price? Post-merge ETH monetary policy Ethereum’s monetary policy was simply to reduce the token’s supply to 1,600 ETH per day. The PoW model, an equivalent of 13,000 ETH were …

Bitcoin (BTC) waited for cues at the Oct. 24 Wall Street open as expectations of a breakout ran high. Hang Seng drops most since 2008 Data from Cointelegraph Markets Pro and TradingView tracked a mundane trading day for BTC/USD after the pair hit weekly highs of $19,700 overnight. Despite what Michaël van de Poppe, CEO and founder of trading firm Eight, called “way worse than expected” manufacturing data from the United States, Bitcoin suffered from declining trajectory on the day. This led on-chain analytics resource Material Indicators to suspect that resistance would remain in place. “Sunday BTC failed all attempts …

Polygon (MATIC) price could double by the end of 2022 or early 2023 due to a mix of extremely bullish fundamental and technical indicators. Polygon wins high-profile clients MATIC rose by nearly 6.5% four days after Nubank, a Brazilian fintech company backed by Warren Buffett's Berkshire Hathaway and Softbank, confirmed that it selected Polygon's "Supernets technology" for its blockchain and digital token dubbed Nucoin. "Nubank plans to airdrop the digital token to its customers in the first half of 2023," the official announcement read, adding: "These tokens will be the basis for its customers' loyalty rewards program and will have …

The crypto market downturn is proving a difficult storm to weather for both investors and businesses alike in the industry. However, according to new data, this hasn’t stopped women from being bullish on crypto. A new survey conducted by BlockFi, a crypto trading and investment platform, asked women across the United States about their views of and participation in the crypto industry between Sept. 2021 and Mar. 2022. According to the findings one in ten women chose crypto as their first investment, with 17% of that being Millennial women investors and 11% Gen Z. Findings even revealed that of the …

Bitcoin (BTC) starts the last week of “Uptober” in a firmly average mood as the trading range to end all trading ranges continues to stick. After a welcome attempt to break out, BTC/USD remains bound to a narrow corridor now in place for weeks. Some of the lowest volatility in history means that Bitcoin has found a temporary function as a "stablecoin" — even some major fiat currencies are currently more volatile. The longer the status quo drags on, however, the more convinced commentators are that a major trend change will enter. This week is as good as any, they …

On the other side, influencers, BTC maximalists and a range of other fanatical “shills” maintain its price could skyrocket to $80,000 and beyond. There is evidence to support both sides. One issue is that they may be looking at different time horizons. There’s a strong case to be made that BTC is likely to drop sharply in the months ahead but potentially rise in mid-to-late 2023. The case for a 2023 BTC price increase Bitcoin bull runs historically coincide with the four-year market cycle, which includes accumulation (buying), an uptrend, distribution (selling) and a downtrend. We would generally expect the …

Bitcoin (BTC) saw fresh gains on Oct. 23 as the weekend delivered a potential launchpad for the bulls. $10 million liquidations as Bitcoin steps higher Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked above $19,500 as the weekly close approached. While modest, the $300 move punctuated otherwise flat trading behavior, Bitcoin notoriously rangebound on daily timeframes. Now, hopes were high that the market would offer more solid price action in the coming days, $20,000 remaining out of reach for over a week. "Green week ahead, preferably first closing the current CME gap," popular trader Crypto Ed …

An army of small Bitcoin (BTC) investors has been fighting with their larger counterparts for months to keep the price above $18,000. Bitcoin accumulation strong among fishes Notably, there has been some on-chain divergence between so-called whales (entities that hold more than 1,000 BTC) and fishes (entities that hold relatively smaller amounts of BTC) as Bitcoin continues to fluctuate inside the $18,000-$20,000 area. Bitcoin fishes have been accumulating BTC during the coin's sideways trend. For instance, the net Bitcoin supply held by addresses with 100-1,000 BTC balance has increased from 3.71 million in June to 3.77 million in October, according …