Bitcoin News Official TheBitTimes.com

Source: AdobeStock / JorgeEduardo   Michael Saylor’s company MicroStrategy has taken advantage of the currently low bitcoin (BTC) price by adding another BTC 480 to its coffers. The bitcoin purchase , worth around USD 10m, was made at an average price of USD 20,817 per coin, above the market price at the time of writing (12:20 UTC) of around USD 20,100, Saylor said. In total, MicroStrategy – a US-listed enterprise software firm that Saylor has turned into a quasi-Bitcoin exchange-traded fund (ETF) – now holds BTC 129,699 (USD 2.6bn), purchased at an average price of USD 30,664. Commenting on the announcement, members of the Bitcoin community pointed out that MicroStrategy is buying more bitcoin even as some have speculated that the company would face margin calls if the BTC price falls below USD 21,000. Michael Saylor himself has previously attempted to put these speculations to rest by saying that BTC would need to fall to as low as USD 3...

Source: Adobe/Georg Hummer   After receiving criticism from industry players last year for being too conservative, a committee at the Bank for International Settlements (BIS), has proposed a cap on how much exposure traditional banks can have to cryptoassets &ldquo ;where there is no counterparty.” According to a new consultation report from the BIS’ Basel Committee on Banking Supervision , the exposure limit for banks should be set at 1% of “Tier 1 capital,” meaning the capital held in a bank&rsquo ;s main reserves. The proposed cap applies to all cryptoassets that are considered unbacked, or that have “no counterparty,” as the BIS puts it. An example of such an asset is bitcoin (BTC), the BIS report said.  The 1% cap will apply to the total exposure, meaning that a bank that already has 0.5% of its capital in BTC can at most have another 0.5% invested in another unbacked cryptoasset. The proposed 1% cap is an attempt t...

Bitcoin has been pumping since the start of 2023. The world’s first and largest cryptocurrency by market capitalization was last changing hands close to $21,000, up a stunning 27% so far on the month. That means Bitcoin is on course for its best monthly gain since October 2021, despite the month still having 15 days to go. In light of the recent surge, Alternative.me’s popular Bitcoin fear and greed index moved out of “fear” for the first time since April 2022 over the weekend, hitting 52 before dropping back to 45 on Monday.   The latest rally has attracted the usual predictable scepticism from bears on social media, many of whom have been dismissing Bitcoin’s most recent recovery as a “bull trap”. In fairness, selling rallies was the playbook for 2022. This Rally Could Be Different But 2023 is going to be a vastly different year to 2022. 2022 was a year characterized by 1) big upside inflation surprises in key global m...

Bitcoin price prediction for December 17 is likely to reverse as BTC stabilizes above the $16,500 support zone. Major cryptocurrencies were trading in the negative early during the Asian session, with the global crypto market worth falling 6.11% to $797.45 billion on the previous day.  Over the last 24 hours, the overall crypto market volume has increased by 38.50% to $47.36 billion. DeFi's total volume is currently $2.67 billion, accounting for 5.63% of the overall crypto market 24-hour volume. The overall volume of all stablecoins is now $43.54 billion, accounting for 91.92% of the total 24-hour volume of the crypto market. Japanese Government Reduces 30% Crypto Tax: Good Move? Regardless of whether or not they generated a profit in 2018, Japanese crypto companies must pay a flat corporate tax rate of 30% on their assets. Some local crypto enterprises apparently decided to relocate their operations as a result of the increasingly onerous tax rules over the pre...

Following the release of the Fed rate hike decision, which is strengthening the US dollar and eventually causing a drop in BTC price, Bitcoin price prediction has turned bearish. Bitcoin price reached a high of $18,400 before a negative reaction. Now, BTC is trading close to a crucial support level, with a possible rebound if prices go over $17,550. The global crypto market cap declined 1.42% to $857.98 billion on the previous day, as major cryptocurrencies plummeted early on December 15. The entire cryptocurrency market volume over the last 24 hours is $45.67 billion, a 14.40% decline. DeFi's total volume is currently $2.94 billion, accounting for 5.49% of the entire 24-hour volume in the crypto market. The overall volume of all stablecoins is now $53.26 billion, accounting for 99.53% of the total 24-hour volume of the crypto market. US Fed Interest Rate Decision is Announced On Wednesday, the Federal Reserve Board voted to raise interest rates by 0.5 percentag...