Bitcoin breaks below $8,000 as free fall continues | New Ethereum ASIC dominates GPU mining performance
BTC 📉 $8,108 (-5.05%) / ETH 📉 $165 (-3.32%) / XRP 📉 $0.24 (-1.94%)
Modern Monetary Theory justifies printing more money, Bitcoin is the counterargument
Mario Draghi, the outgoing president of the European Central Bank, mentioned the institution is open to Modern Monetary Theory—a fiscal and monetary framework that argues governments can keep printing money so long as inflation is in check.
Bitcoin breaks below $8,000 as free fall continues
Bitcoin continues ripping through major support, breaching the $8,000-level support within the last hour. From open at $10,027 on Sep. 23, BTC has now fallen over 20 percent.
Trader: bears won the short term fight for bitcoin, but what happens next?
Subsequent to the near 20 percent pullback in the bitcoin price, trader Nick Cote said that bears won the short term fight with more room for a deeper correction in the cryptocurrency market.
Coincidence or correlation? US stock market plunge preceded Bitcoin’s crash to $7,900
Bitcoin experienced its worst plunge since January 2018, dropping as much as 18 percent on Sept. 24. The drop came shortly after the U.S. stock market experienced a similar crash, which led many to question whether Bitcoin was truly a “safe haven” asset.
New Ethereum ASIC dominates GPU mining performance
Canaan unveiled a new Ethereum ASIC that’s more than 5-times more efficient than commercially available GPUs. This doesn’t bode well for small-scale miners and threatens to potentially increase centralization of the network.
London becomes world’s top fintech city by number of deals closed, beats New York and San Francisco
London has beaten New York to become the world’s most active fintech hub by the number of fundraising deals in 2019, collecting $2.1 billion in funding from 114 deals in the first eight months of the year, CNBC reported.
ICYMI
🐻 Bitcoin filled a bearish gap on CME futures and now a bullish one awaits to get filled
😯 Tether becomes 4th largest crypto, demonstrating intensity of market blood bath
📉 MakerDAO service DeFi Saver CDP liquidation protection slips as ETH price crashes
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