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Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
Market Wrap: Bitcoin Heads for Worst Week in Year
The latest crypto news and headlines for Friday, June 17.
Bitcoin Recovers Over $21K as Fed Commits to Slow Inflation; Traders Remain Cautious
Chair Jerome Powell said the central bank remains committed to reducing inflation ,and increased interest rates by 75 basis points earlier this week.
First Mover Asia: When Crypto Rebuilds After This Cold Winter, Firms Like Three Arrows Capital Won't Have a Place; Bitcoin Sinks Toward $20K
The crypto hedge fund, which has been one of the industry’s most prolific investors in new protocols and is also a large borrower, is facing $400 million in liquidations on its positions; ether drops 13%.
Bitcoin Turbulence May Be in 'Darkest' Phase: Report
Bitcoin is entering a phase consistent with deep bear-market cycles this week, according to Glassnode. “All About Bitcoin” host Christine Lee presents the “Chart of the Day.”
Market Wrap: Bottom Has Not Been Reached for Crypto, but Capitulation Is Needed
The rally in bitcoin and other major cryptocurrencies after the Fed meeting on Wednesday proved short-lived.
First Mover Asia: Celsius Risks Triggered Crypto Crash, Says Huobi Group CFO; Bitcoin Wobbles but Doesn't Break Post-Rate Hike
Lily Zhang told CoinDesk the lending platform's problems were ill-timed following the collapse of the terraUSD stablecoin, and crypto prices could decline further; major altcoins regain ground.
BTC Hovers Around $21K as Fed Announces Biggest Interest Rate Hike in 28 Years
GlobalBlock Market Analyst Marcus Sotiriou discusses the possible macroeconomic factors impacting the crypto markets as the Fed raised interest rates by 75 basis points and BTC hovers around $21,000. Plus, Sotiriou explains what could’ve led Celsius to halt withdrawals for users, describing it as “human error in crypto.”
Market Wrap: Fed Hikes Rates at Highest Level Since 1994, Bitcoin Rallies After
The cryptocurrency fell to $20,270 after the Fed's statement but rebounded shortly after.
