Global markets are going through a tough period — including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven’t received the memo. “Feel like we're relatively safe through mid-terms,” Twitter's “CryptoKaleo” — also known simply as “Kaleo” — wrote in a Sept. 12 tweet to his 535,000 followers, referring to the United State’s November mid-term elections. The prediction was accompanied by a chart indicating his belief that Bitcoin's (BTC) price would surge to $34,000 — a 50% gain from its roughly $20,000 level as of last week — before the end of …

The United States equities markets and the crypto markets are likely to remain volatile in the near term because traders remain nervous about the size of the next Federal Reserve rate hike on Sept. 20 and Sept. 21. While the majority favors a 75 basis point rate hike, according to the CME FedWatch Tool, some analysts expect the Fed to hike rates by 100 basis points, the first such instance since the early 1980s. Many expect Bitcoin (BTC) to continue its slide and drop below the June low in the future. Although anything is possible in the markets, many times, …

Last week’s Merge was the “most significant development in the history of the Ethereum network,” according to Fidelity Digital. And from a purely technical standpoint, the blockchain network’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism was a marvel. Widely compared to changing a jet engine mid-flight, the software upgrade proceeded with nary a glitch on Sept. 15. Overnight, too, Ethereum, the world’s second-largest blockchain platform, reduced its energy usage by 99.95% from a rate as high as 94 TWh per year in May — roughly equivalent to the nation-state Chile — to an almost negligible 0.01 …

Bitcoin (BTC) and Ethereum's native token, Ether (ETH), started the week on a depressive note as investors braced themselves for a flurry of rate hike decisions from central banks, including the U.S. Federal Reserve and Bank of England. Bitcoin price fails to hold $20,000 On Sep. 19, BTC's price has failed to regain the $20,000 psychological support zone. The BTC/USD pair slipped by 6.5% to around $18,250, while ETH dropped 4% to approximately $1,280. Their gloomy performance came as a part of a broader decline that started in mid-August, wherein BTC and ETH wiped a total of 28% and 37% …

Bitcoin (BTC) faces another week of “huge” macro announcements after the lowest weekly close since July. After days of losses following the latest inflation data from the United States, BTC/USD, like altcoins and risk assets more broadly, has failed to recover. The largest cryptocurrency has yet to flip $20,000 to convincing support, and as the third full week of September begins, the danger is once again that that level could function as resistance. Bulls have plenty to worry about — the coming days will see the Federal Reserve decide on the next key rate hike, something that will affect the …

The Ethereum Merge came and went, leaving investors to ponder what the next trending development in the market could look like. In a Cointelegraph Twitter Space with Capriole founder Charles Edwards, the analyst mentioned that excitement over the Ethereum Merge and its bullish price action had somewhat been holding up hope across the market. Now that the event has come and gone, the crypto market has been selling off, with Bitcoin’s (BTC) price trading below $20,000 and Ether’s (ETH) under $1,500. Eventually, new narratives and market trends will emerge, and if the fundamentals are right, traders will rotate funds as …

The World Bank has warned of a possible global recession in 2023. In a press release on Sept. 15, the bank said that the current pace of rate hikes and policy decisions is unlikely to be enough to bring inflation down to pre-pandemic levels. Ray Dalio, the billionaire founder of Bridgewater Associates said in a blog post on Sept. 13 that if rates were to rise to about 4.5% in the United States, it would “produce about a 20 percent negative impact on equity prices.” The negative outlook for the equity markets does not bode well for the cryptocurrency markets …

ETHPoW, a separatist Proof-of-Work (PoW) blockchain forked from Ethereum's Merge, went live on Sep. 15. However, the chain suffered technical issues after the launch, which put downward pressure on its ETHW token. ETHW price down 65% amid "ChainID" fiasco The price of ETHW has dropped by 65% since ETHPoW's launch to around $14 on Sep. 16, according to CoinMarketCap. At its lowest, the token was changing hands for $9.50. The losses coincided with a technical issues related to ETHPoW's ChainID." ChainIDs are identifiers that help users identify one blockchain from another. Thus, ETHPoW required a new ChainID to separate its …

Bitcoin (BTC) attempted to violate local lows on Sep. 16 as the latest cross-crypto downtrend intensified. No relief for BTC bulls post Merge Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,600 at the time of writing, with buyer support just avoiding a further drop. The level had remained in place as an intraday floor as the Ethereum (ETH) Merge concluded, only to spark a sell-off, which took ETH/BTC toward three-week lows. Amid the gloomy mood, traders and analysts showed little inclination to reassess their market outlooks. “I feel confident with the scenario of quick pump to 23k …

The shedding of Ethereum’s energy-intensive proof-of-work (PoW) system is expected to see Ether (ETH) “flow into the institutional world,” according to a number of fund managers and co-founders. On Sept. 15, Ethereum officially transitioned to a proof-of-stake (PoS) consensus mechanism, which is expected to cut energy consumption used by the network by 99.95%, according to the Ethereum Foundation. The upgrade effectively ended the need for the Ethereum network to rely on miners and energy-guzzling mining hardware to validate transactions and build new blocks, as these functions are now replaced by validators who “stake” their ETH. "The merge will reduce worldwide …

It’s been less than a day since Ethereum’s historic transition to proof-of-stake, with most of the crypto community still abuzz with excitement following the successful Merge. On Sept. 15 at 06:42:42 UTC, the last Ethereum block using the old proof-of-work consensus mechanism was mined. Replacing it is an energy-efficient proof-of-stake consensus mechanism. Many crypto enthusiasts and climate advocates worldwide have been thrilled by the positive impact it will have on the environment and thus, crypto’s reputation. Others have just been in awe of the technological feat of upgrading an entire blockchain network without any stoppages. Ethereum Ethereum 30 minutes ago …

Bitcoin (BTC) spent a second day threatening $20,000 support on Sep. 15 as markets processed the Ethereum (ETH) Merge. BTC stuck between price magnets' Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. The largest cryptocurrency broadly failed to regain lost ground after surprise United States inflation data on Sep. 13 sent risk assets into a tailspin. Down 13.5% versus the week’s top at the time of writing, Bitcoin offered little inspiration to traders who were still eyeing further losses. Yes, we could pump from …