Crypto Miners Find New Bear Market Survival Strategy

CoinDesk just posted a piece about the new strategy that crypto miners found. Check out the latest reports below.

Bitcoin was recently trading at about $21,500, roughly flat over the past 24 hours as nervous investors continued their vigil for the U.S. central bank chair’s comments Friday that might hint at the Fed’s next interest rate hike.

The online publication mentioned above notes the fact that there are several central bank governors who talked to media outlets but offered few clues on whether the bank will continue its current hawkishness by approving another 75 basis point hike (which would likely send asset markets – crypto and traditional – spiraling) or ratchet back the rate to 50 points.

“People are going to be looking for some sort of dovish tilt and if we don’t get it, it could be kind of ugly,.”

This is what Matthew Tuttle, CEO and chief investment officer of exchange-traded fund provider Total Capital Management.

ETH continued its recent pattern of outperforming Bitcoin.

ETH was recently trading just below $1,700, and now the coin is trading in the green.

“Other major altcoins were mixed, and the popular meme coin SHIB and CVC each recently rising more than 6% but EOS and KNC off over 2% and 1%, respectively,” CoinDesk notes.

According to the latest reports coming from the online publication the Daily Hodl, Ethereum (ETH) creator Vitalik Buterin says he considers crypto assets to be a superior form of making payments compared to mainstream alternatives.

He explained the fact that using digital coins for payments doesn’t just deter censorship, it is also a more convenient method for international remittances and business deals, based on his personal experiences.

He also pointed out the fact that he uses digital assets to support charities and academic organizations – these have had limited or no connection to crypto assets.