A survey from digital payment company Block Inc. has found that the higher respondents rated their own level of cryptocurrency knowledge, the more optimistic they are about the future of Bitcoin (BTC). Block surveyed more than 9,500 people from the Americas (2,375), EMEA (4,360) and APAC (2,860) regions in January, ensuring to include 100 Bitcoin owners in each region for its 2022 Bitcoin Knowledge and Perceptions Report. The report, released on Tuesday, shows a correlation between optimism and the likelihood of purchasing, and compared the result with the respondent’s self-identified level of knowledge. Of those who identified as having fair …

Bitcoin (BTC) is bouncing back this week as a sudden surge challenges weekly highs. In what should provide some desperately needed confidence to bulls, BTC/USD is back at weekly highs on May 30, gaining several percent overnight. In contrast to recent weekly closes, the May 29 candle managed to limit the downside and reverse course immediately as the new week began. Nonetheless, Bitcoin has now sealed nine red weekly candles in a row, something never seen before in its history. Just how bearish is the largest cryptocurrency going into June? The macroenvironment remains troubled, while retail interest is nowhere to …

Bill Miller the billionaire founder and chief investment officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.” Appearing on an episode of the “Richer, Wiser, Happier” podcast on May 24, Miller backed the cryptocurrency as a means for those caught in conflict to still access financial products. He used the collapse of financial infrastructure in Afghanistan after the United States withdrawal in August 2021 as an example. “When the U.S. pulled out of Afghanistan, Western Union stopped sending remittances there or taking them from Afghanistan, but if you had Bitcoin, …

The World Bank has signaled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub. At the end of April, CAR president Faustin-Archange Touadéra established a regulatory framework for cryptocurrency in the country and adopted Bitcoin as a legal tender. On May 24, he announced a plan to launch the country’s first crypto hub called “Sango.” Sango is described as the country’s first “crypto initiative” — a legal hub for crypto-related businesses encompassing economic policies including no corporate or income tax and the creation …

As economic conditions continue to worsen, financial experts worldwide are increasingly placing the blame at the feet of the United States Federal Reserve after the central bank was slow to respond to rising inflation early on. Financial markets are currently experiencing their worst stretch of losses in recent history, and it doesn’t appear that there is any relief in sight. May 24 saw the tech-heavy Nasdaq fall another 2%, while Snap, a popular social media company, shed 43.1% of its market cap in trading on May 23. This past couple of months have been absolutely brutal for the markets… 8 …

There was a time when all cryptocurrencies traded against Bitcoin (BTC). Speculators ventured into other coins when they saw assuring tokenomics or promising hype, but Bitcoin was their settlement coin of choice. Things have changed. Stablecoins now constitute a critical $150 billion pillar in the cryptocurrency market. Perpetual futures over-amplify market sentiment and, more often than not, dominate price action. Much more capital, including from institutional funds, has come into the market lately with only a moderate impact on Bitcoin’s price. So, some former bulls now dismiss Bitcoin as boring. Is this the end of Bitcoin maximalism? Probably not. But, …

Macro investor Raoul Pal is convinced that the current crypto bear market will end only once the Fed eases its hawkish monetary policy by halting interest rate hikes. That could happen in the next couple of months, according to Pal's predictions. “The Fed are unlikely to raise rates as far and as fast as people expect. My guess is they probably stop raising rates sometime in the summer and that will be it,” he said in an exclusive interview with Cointelegraph. Pal sees the combination of high interest rates and fear of an upcoming recession as the main macro factors …

ApeCoin (APE) has undergone a sharp recovery after falling to its lowest level in two months. But its strong correlation with Bitcoin (BTC) and U.S. equities amid macro risks suggests more losses could be in store. APE rebounds after 80% losses in two weeks APE rebounded by nearly 45% to $7.30 on May 12. The upside retracement move came after APE dropped circa 81% to $5 on May 11, from its record high near $27.50, established on April 28. The seesaw price action mirrored similar volatile moves elsewhere in the crypto market, led by the chaos around TerraUSD (UST) — …

Bitcoin (BTC) dropped by $1,500 in minutes on May 11 as the latest United States inflation data delivered mixed sentiment on the economic outlook. Bitcoin puts in fresh 10-month lows Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD diving from $31,500 to abruptly pierce the $30,000 support as the Consumer Price Index (CPI) figures went live. At 8.3%, CPI outpaced estimates by 0.2% but still fell 0.2% compared to last month's readout. Reactions naturally began to focus on the idea that peak inflation may have passed. "This is higher than the expectation, but it shows the first decrease in …

The Central Bank of Nigeria (CBN) is moving ahead with plans to upgrade the country’s central bank digital currency (CBDC) to be used on a wider range of goods and services. It is also maintaining harsh crypto restrictions that cripple the country’s fintech sector. The CBN branch controller Bariboloka Koyor spoke at a campaign aiming to “sensitize” businesses to the eNaira at a market in the country’s most populous city of Lagos on Monday, according to a report from Vanguard. Koyor stated: “Starting from next week, there is going to be an upgrade on the eNaira speed wallet app that …

Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases. Bloomberg reported on Monday that a resounding 60% of respondents to an Argentinian poll asked for more access to crypto, which catalyzed the banks’ decisions to begin allowing crypto trading. Affiliate at market research firm Americas Market Intelligence, Ignacio Carballo, tweeted confirmation on Tuesday with screenshots of Banco Galicia’s online interface that it had begun supporting Bitcoin (BTC), Ether (ETH), USD Coin (USDC) and Ripple (XRP) purchases. .#IMPORTANTE: El Banco Galicia incorpora función de comprar #criptomonedas! Se transforma así …

The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption. In theory, the 8.5% inflation in the United States means that every five years, the prices increase by 50%. This essentially turns $100 into $66 by slashing 33% of the dollar’s purchasing power. The U.S. Federal Reserve FOMC meeting is expected to rule on the interest rates on May 4, but more importantly, the FED is expected to announce a program to offload part of its …