Cost To Mine BTC Rises, Crypto Daily TV 1/5/2023

In Todays Headline TV CryptoDaily News:

https://www.youtube.com/watch?v=4F1_K03XKvs

FDIC pins SB’s failure on poor management

The United States Federal Deposit Insurance Corporation’s post-mortem assessment of Signature Bank revealed poor management and inadequate risk management practices as the root cause for its collapse.

Crypto tax guidance could come in 12 months

The US Internal Revenue Service hopes to issue crypto tax guidance ready “in 12-ish months,” Julie Foerster said at Consensus 2023. The digital assets project director also said the IRS is planning to change how it looks at cryptocurrency and wants to work more with the industry.

Cost to mine one Bitcoin rises to $17K in 2023

It now costs Bitcoin miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to a new research. Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs.

BTC/USD rose 0.4% in the last session.

The last session saw Bitcoin gain 0.4% against the Dollar. The ROC is giving a positive signal, which matches our overall technical analysis. Support is at 288951 and resistance at 296331.

The ROC is giving a positive signal.

ETH fell 0.7% against USD in the last session.

The Ethereum-Dollar pair fell 0.7% in the last session. The ROC is giving a negative signal. Support is at 1873.671 and resistance at 1932.951.

The ROC is giving a negative signal.

XRP/USD dropped 0.9% in the last session.

Ripple fell 0.9% against the Dollar in the last trading session. The Stochastic-RSI is giving a positive signal. Support is at 0.4645 and resistance at 0.4934.

The Stochastic-RSI is currently in the positive zone.

LTC/USD dove 2.7% in the last session.

The Litecoin-Dollar pair plummeted 2.7% in the last session. The ROC is giving a negative signal. Support is at 88.3467 and resistance at 92.8867.

The ROC is giving a negative signal.

Daily Economic Calendar:

US ISM Manufacturing New Orders Index

The ISM Manufacturing New Orders Index measures the business conditions in the manufacturing sector using new order data. The US ISM Manufacturing New Orders Index will be released at 14:00 GMT, the US ISM Manufacturing PMI at 14:00 GMT, Japan’s Jibun Bank Manufacturing PMI at 00:30 GMT.

US ISM Manufacturing PMI

The ISM Manufacturing PMI shows the business conditions in the manufacturing sector. It is a significant indicator of the overall economic conditions.

JP Jibun Bank Manufacturing PMI

The Jibun Bank Manufacturing PMI gives an early snapshot of the health of the Japanese manufacturing sector.

JP Monetary Base

The Monetary Base is the currency supplied by the central bank, encompassing notes and coins as well as money held in bank accounts. Japan’s Monetary Base will be released at 23:50 GMT, the US ISM Manufacturing Employment Index at 14:00 GMT, Japan’s Consumer Confidence Index at 05:00 GMT.

US ISM Manufacturing Employment Index

The ISM Manufacturing Employment Index estimates the labour market in the manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries.

JP Consumer Confidence Index

The Consumer Confidence captures the sentiment that individuals have regarding economic activity. A high level of consumer confidence indicates a stronger economy.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.