Taiwanese chip manufacturer United Microelectronics Corporation saw a roughly 10% decrease in revenue in the fourth quarter of 2018. Like TSMC, who provide chips to Bitmain, they prominently attribute some of their losses to the downturn in demand for cryptocurrency. Less demand amounts to less need for mining, which subsequently lessens the demand for mining hardware. Co-president Jason Wang said: Looking into the first quarter of 2019, we anticipate further deceleration in customers’ wafer demand, due to a softer than expected outlook in entry-level and mid-end smartphones as well as falling crypto currency valuations. Although UMC’s ongoing transformation will need
The Federal Reserve Bank of St. Louis has released an article today about Bitcoin. In it, the bank notes that the price of Bitcoin has three potential futures: indefinite, infinite appreciation; zero; or somewhere in between. They believe it will be somewhere in between. The authors, David Andolfatto and Andrew Spewak, conclude that one of
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Art Cashin, managing director of trading floor operations for investment firm UBS Financial Services, has firmly blamed United States President Donald Trump for the stock market volatility that caused the recent Dow Jones Industrial Average sell-off. Veteran stock market trader Cashin blamed the latest government shutdown and Trump’s attacks on the Federal Reserve for the
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There is still plenty of speculation as to why the Bitcoin price has plummeted over the past few months. Some sources hint at Tether’s involvement, whereas Fundstrat’s Tom Lee has a completely different view. In his opinion, the expiration of Cboe’s Bitcoin futures are the main culprit.
Factors Influencing the Bitcoin Price
Although Bitcoin markets will always be volatile, there are many different external influences in play at all times. Over the years, there have been a fair few factors which pushed the Bitcoin price in a specific direction, either for better or worse. In early 2018, the market downtrend has led to a lot of speculation and fluctuation, though pinning down the exact cause is not easy.
On Wednesday Trueusd, a stablecoin designed to be pegged to the US dollar, experienced a sudden bump in price after Binance announced support. The news caused Trueusd (TUSD) to rise by an unprecedented 40% before eventually subsiding. Trust Token, the coin’s developers, have now explained to news.Bitcoin.com how this sequence of events came to be.
A Taiwanese Bitcoin Miner nearly paid for his life after being shot at by gangsters for allegedly reneging on a mining deal by not providing payment. The victim went on to blame China and their strict anti-cryptocurrency regime for the lack of available funds.
There are many ways to be a part of the crypto industry. Trading in virtual currencies is an option, as is creating a new digital currency and even contributing to ICOs. Mining is another option. Some companies or individuals may even hire freelance miners and split any subsequent profits between themselves and the miner.
As was previously reported, Coinbase – one of the most popular digital currency exchanges – experienced one of the more egregious errors in recent cryptocurrency history by duplicating users’ past debit/credit card and bank purchases, effectively siphoning money from accounts without authorization.
The costly error reportedly left many users’ bank accounts completely drained. Some users on Reddit reported unauthorized transactions upwards of $ 50,000, while many others reported duplicated purchases on smaller transactions. Even those less affected have been left with a massive headache from filing support tickets with Coinbase, calling their banks, and disconnecting their linked accounts.