Bitcoin Financial News

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Online casinos have evolved to meet the majority of gambling and gaming needs of diverse players worldwide. While some players enjoy playing live at brick and mortar casinos, many others prefer to use cryptocurrency to play online casino games and earn great rewards; this is why Bitcoin casinos have emerged. 

 

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

Casino gaming has maintained remarkable growth despite slowing global economic trends. According to an industry report, the global online gambling market size will reach $19.16 billion by 2027, up from $13.1 billion in 2020, representing a 5.5% compound annual growth rate (CAGR) over a seven-year period.

CryptoQuant analyst, Greatest_Trader, revealed that there was possible selling pressure from Bitcoin’s [BTC] long-term investors. This opinion may not be surprising, especially as BTC led its investors into losses after falling from $22,000 on 13 September.

MicroStrategy owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company had bought another 301 Bitcoin for roughly $6 million, at an average price of ~$19,851 per BTC. 

Bitcoin again topping the $19,000 mark, whereas Altcoins zoomed up to 10 per cent. Riskier asset class was back in flavour ahead of the US Federal Reserve's monetary policy meeting later in the day. Investors are bracing up for another 75 basis point rate hike. All the top crypto tokens are trading higher. XRP rallied more than 10 per cent, whereas Solana and Ethereum jumped 5 per cent each. Bitcoin and Avalanche added 4 per cent each. The global cryptocurrency market cap was trading significantly higher at $939.86 billion, jumping more than 3 per cent in the last 24 hours. However, the total trading volume zoomed over 8 per cent, close to $75.5 billion.

The cryptocurrency bear market has had an impact on how people pay with crypto, but Bitcoin (BTC) remains a major payment tool despite huge volatility, according to data from BitPay.

Bitcoin (BTC) recovered above the $19,000 mark on Sep. 20, a day after falling to its lowest level in three months.

Quantitative trading company Alameda Research will return an estimate of $200 million to Voyager Digital, which is proceeding through bankruptcy. Alameda borrowed the funds in cryptocurrencies in September 2021. At that time, the sum was close to $380 million. 

A study conducted by Pew Research Center, a Washington DC-based non-partisan think tank, has found that approximately 16% of American adults have invested in, traded, or used cryptocurrency.

Voyager Digital will receive about $200 million in repayment of loans from trading firm Alameda Research.

Coinbase on Monday announced that the cryptocurrency platform is releasing a new fee schedule on Sept 20, 5 pm EST.

Zimbabwe's Central Bank launched gold coins in July as part of efforts to help curb surging inflation amid a slump in the country's currency. The move sparked interest in whether gold could serve as a safe haven investment during a market crisis.

Bitcoin plunged below the $19,000 mark, whereas Ethereum sank 10 per cent, barely holding $1,300 levels. Some experts believe that Ethereum's merge was not undertaken at an opportune time. All top crypto tokens are trading in deep red. Ethereum, Polygon, Shiba Inu, Cardano and Avalanche plunged 10-11 per cent. Dogecoin, Solana, XRP and Polkadot plunged 7-9 per cent. The global cryptocurrency market cap was trading significantly lower at $909.80 billion, dropping as much as 7 per cent in the last 24 hours. However, the total trading volume zoomed about 45 per cent, close to $69.53 billion.

Bitcoin (BTC) has dropped by more than 6 per cent this week and has failed to hold support at $22,000 after successfully breaching $22,600 mid-week. BTC continues to consolidate in the range of $19,400-20.100 which has held as support for months now. If stocks recover their losses next week, there is a likelihood of BTC gaining back $22,000. This week also scripted an historic day for the crypto world as Ethereum (ETH) completed its Merge, meaning the network will no longer rely on a proof-of-work (PoW) consensus mechanism. Ethereum, the world’s second most valuable crypto, has completed its massive software upgrade with promises of massive environmental benefits. The Merge is set to reduce Ethereum’s energy consumption by nearly 99 per cent. ETH, post the Merge, has dropped nearly 18 per cent this week as a sell-off event ensured. This can be attributed to short-term traders who bought ETH leading up to the event to gain on the positive momentum and to acquire new forked tokens. Once their motives were established, they sold their positions. Total crypto market cap is now below $1 trillion.

The U.S. Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone.

Major cryptocurrencies were trading in the green early on September 20 as the global crypto market cap rose 2.56  percent to $934.23 billion from the previous day. The total crypto market volume increased 2.88 percent to $74.30 billion over the last 24 hours.

cryptocurrencies amid fears of a further aggressive rate hike by the US Fed and inflationary woes during the last week, top cryptocurrencies on September 18 were seen gaining some ground. The largest crypto by market capitalisation Bitcoin (BTC) regained USD 20,000 levels. Ethereum-the second largest token by m-cap that took a sudden beating post the much sought-after merge event was seen firm by close to 1 per cent at USD 1,450. Notably, post the mega ‘Merge’ event, Ethereum witnessed a severe rout and after posting initial gains, the token registered its downtrend. “It seems likely that a mix between the still-high correlations and investors looking to 'sell the news' led to ether's severe drop in spite of the milestone accomplished,” IntoTheBlock wrote in a research note Friday. For NFTs or non-fungible tokens there is seen a different momentum after the long-awaited upgrade of the Ethereum blockchain. Sales and prices of NFTs have surged, according to crypto data tracker DappRadar. The upgrade, known asthe Merge, also seems to have benefited marketplaces that sell NFTs based on Ethereum, which is the most popular blockchain for this type of token, added a Bloomberg report. According to the Coinmarketcap data, while the global crypto market-cap has inched higher by 0.76 per cent over the previous day to $972.06 billion, the volumes in the market have softened by close to 26 per cent during the same period to $48.00 billion.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.