After Core Scientific, Another Bitcoin Miner Flags Default Risks

Amid the Bitcoin price crash and rising energy costs this year, Bitcoin miners are having a very tough time. Last week, public-listed Bitcoin miner Core Scientific (NASDAQ: CORZ) announced chances of potential bankruptcy very soon.

Timeline of Bitcoin

Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for “high volume, low-value transactions.

Major coins traded in negative territory on Wednesday evening as the global cryptocurrency market cap declined 1.8% to $999.6 billion at 9:31 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -1.5% -2.7% $20,225.41 Ethereum (CRYPTO: ETH) -3.4% -2% $1,534.63 Dogecoin (CRYPTO: DOGE) -8.1% 80.5% $0.13 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Arweave (AR) 37.4% $14.09 Litecoin (LTC) 15.3% $63.65 Mina (MINA) 15.3% ​​$0.78

BTC's price slowed down after showing so much strength as it rallied to a high of $21,000 but got rejected as the price rallied downward.   BTC could suffer retracement as the price breaks below the crucial support area, holding the price off from sellers with hopes of a rebound.

Bloomberg Intelligence's senior commodity strategist Mike McGlone is bullish on the top two largest cryptocurrencies by market cap. McGlone says in a new interview that the declining supply of Bitcoin (BTC) and Ethereum (ETH) amid growing adoption will lead to price appreciation for the two crypto assets.

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are trading lower by 1.88% to the $20,100-level and 5.00% to the $1,510-level Wednesday afternoon. The broader crypto market is falling amid overall U.S. market weakness as stocks see volatility following the 

A closely followed crypto strategist is issuing an alert that it's “do-or-die” time for king crypto Bitcoin (BTC). The pseudonymous analyst Cred says that Bitcoin is currently trading in a wide range between $18,000 and $22,000, with a midpoint at around $20,300.

Bitcoin, Ethereum and the crypto markets at large are experiencing a sharp increase in volatility as Federal Reserve Chair Jerome Powell details the future of interest rate hikes in the US. After raising interest rates another 0.

Crypto prices moved higher then lower following the Fed's decision to raise interest rates by 75 basis points. The post Bitcoin, ether whipsaw as Fed Chair's comments roil markets appeared first on The Block.

A crypto exchange platform has been hacked to the tune of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and stablecoin USD Coin (USDC). Digital assets exchange Deribit tells its 52,000 Twitter followers that bad actors have made away with $28,000,000 worth of BTC, ETH, and USDC after compromising a crypto wallet.

The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth in spending and production.” U.S.