Author Archives: Darren Marchal

Bitcoin may have hit a floor after Fed chief’s speech at Ja

Bitcoin quivered but didn’t fold after Jerome Powell signaled higher-for-longer interest rates to fight inflation, a pattern that for brave prognosticators could be a hint of a floor for the digital token. The largest cryptocurrency is down about 6% since Powell’s hawkish Aug. 26 Jackson Hole speech underlined that the Federal Reserve wants to subdue…

Divide emerges between retail, pros on how to play Ether upgrade

The crypto world has been abuzz about Ethereum’s upcoming software upgrade. Yet there’s a divide in terms of how to position for the so-called Merge: retail investors have been selling the underlying token, while institutions continue to buy. The trading desk at Genesis saw “some fresh bullish ETH views expressed” with investors buying calls and…

Bitcoin plunges below $20,000, may reach $10,000 level this year

After showing some stabilisation in the last few weeks, world’s largest cryptocurrency Bitcoin has plunged once again below $20,000 after Federal Reserve Chair Jerome Powell’s keynote address. Bitcoin initially showed little reaction to Powell’s remarks, but then nosedived sharply and on Sunday, it was hovering around $19,975 per digital coin which is more that 60…

Explained: Ethereum set for mega ‘merger’ to become m

Ethereum, the network behind the second-largest cryptocurrency by market cap (after Bitcoin), will move from a proof-of-work consensus mechanism to a proof-of-stake blockchain next month in a process called “the merge”. That will make Ethereum at least “99 per cent more energy efficient”. The Ethereum Foundation has said that the Merge Blockchain upgrade is scheduled…