Chinese Gov Bitcoin Holdings Outrank MicroStrategy Despite Crypto Ban

The Chinese government currently has more Bitcoin holdings than MicroStrategy as a result of the funds it seized from the PlusToken Ponzi scheme. The post Chinese Gov Bitcoin Holdings Outrank MicroStrategy Despite Crypto Ban appeared first on BeInCrypto.

Timeline of Bitcoin

Bitcoin, Ethereum, and the entire crypto market is often prone to price fluctuations. That's why crypto investors must carefully monitor the market movement to avoid huge losses when prices are low.

Bitcoin price witnessed a correction after the Fed hiked interest rates by another 75 bps, but the BTC price held strongly over $20K. Interestingly, the BTC price has rallied two times from the $20,080 level in a week, making a double bottom.

While most altcoins struggle in light of the bearish cryptocurrency market, Polygon (CRYPTO: MATIC) has been outperforming the apex Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and even Elon Musk's favorite Dogecoin (CRYPTO: DOGE). What Happened: MATIC is up by 9.50% in the last 24 hours, trading at $0.97 at the time of writing, according to data from Benzinga Pro.

One of the biggest universal banks in the Philippines, The Union Bank of the Philippines, or simply UnionBank, said on Nov. 2 that it has begun a pilot program for Bitcoin custody and trading services for a small group of retail clients. UnionBank went online on Harmonize, a digital asset platform developed by Metaco, a The post Just In: Phillipines' Largest Consumer Bank Launches Bitcoin Trading appeared first on CoinGape.

All of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, including bitcoin and ether, experienced declines in Thursday morning trade as a result of the U.S. On Wednesday, the Federal Reserve announced its fourth straight rate increase of 75 basis points.

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.

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.