CSFX Market News | Global Market Update

  WHAT IS BITCOIN MINING? Bitcoin mining is the process of creating new bitcoins by solving extremely complicated math problems that verify transactions in the currency. When a bitcoin is successfully mined, the miner receives a predetermined amount of bitcoin. Bitcoin is a  cryptocurrency  that’s gained wide popularity due to its wild price swings and surging value since it was first created in 2009. As prices of cryptocurrencies and Bitcoin have skyrocketed in recent years, it’s understandable that interest in mining has picked up as well. But for most people, the prospects for Bitcoin mining are not good due to its complex nature and high costs. Here are the basics on how Bitcoin mining works and some key risks to be aware of. Bitcoin mining statistics A miner currently earns 6.25 Bitcoin (about $125,000 as of September 2022) for successfully validating a new block on the Bitcoin blockchain. Creating Bitcoin  consumes 94.2 terawatt-hours ...

  After falling below, the crucial $20,000 threshold over the weekend, Bitcoin (BTC) is up more than 6 percent today. According to statistics from CoinMarketCap, it dropped as low as $17,709 before rising up to about $21,190 at the time of writing. However, investors who have just seen their portfolios destroyed will find little solace in that modest increase. According to some observers, the price of the leading cryptocurrency may have finally bottomed out if Bitcoin can maintain its head above $20,000 level. It seems sense that people want to put a stop to this time of exorbitant costs, but it’s still too early to discuss a recovery. Bitcoin is already over 70% below its all-time high, and there are still some dark clouds looming over the cryptocurrency market. WHY IS BITCOIN HAVING TROUBLE? The economic environment now is considerably different from the one that drove the whole crypto sector to record highs last year, which is the fundamental reason Bitcoin is struggling. Econom...

  ETHEREUM TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, ETHEREUM is trading in a downward channel. It is trading below all SMAs: MA (20), MA (50), and MA (100). RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness. The immediate support is at 1525 and the resistance level is at 2250 ETHEREUM is trading in a downward channel until there is a trend reversal. ETHEREUM TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FULL REPORT

  RIPPLE TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, RIPPLE is trading within a symmetrical triangle. It is trading below all SMAs: MA (5), MA (20), and MA (50). The immediate support is 0.645556 and the resistance level is at 0.913058 RIPPLE is trading within a symmetrical triangle until there is a breakout or a breakdown. RIPPLE TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FULL REPORT

  DASH TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, DASH is trading in a downward channel. It is trading above MA (5) and MA (20) but below MA (50). The immediate support is 88.070737 and the resistance level is at 156.513554 DASH is trading in a downward channel until there is a trend reversal. DASH TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FULL REPORT

  BITCOIN PRICE TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, Bitcoin is trading in a downward channel. Bitcoin is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level. Bitcoin will follow a downtrend in the coming weeks. Bitcoin’s crucial resistance level is at 51,994.80 which is near 20 days SMA as of now. There are no signs of a bullish trend. CLICK HERE FOR FULL REPORT

  TOP 5 STOCKS TO WATCHOUT:- 1.HYUNDAI :     South Korea’s Hyundai Motor Co said on Friday it has not decided when to resume operations at its assembly plant in St Petersburg, Russia, citing ongoing issues with components delivery. “Hyundai Motor Company is deeply concerned by the situation in Ukraine. We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery,” it said in a statement to Reuters. “The safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible,” it added. Operations at the St Petersburg plant have been suspended since March 1. The South Korean automaker, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4% of its global production...

  BITCOIN PRICE TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, BITCOIN is trading in a downward channel. BITCOIN is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level. BITCOIN will follow a downtrend in the coming weeks. READ FULL REPORT - CLICK HERE