Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
19 October 2022 | Other

Bitcoin and Ether fall amid EU reviews crackdown on energy-intensive crypto-mining

ETHUSD
BTCUSD

Bitcoin and Ethereum dropped sharply Wednesday, October 19, during morning trading on the Asian market. The reason is the European Union (EU) to consider a bill that says the mining process of energy-intensive cryptocurrencies, including Bitcoin, may be restricted. 

Under the EU proposal, cryptocurrencies would be classified according to their energy consumption. Thus, less energy-intensive blockchain systems are likely to come to the fore, i.e. the proof-of-stake protocol. This algorithm has become widespread since the Ethereum merger, as Bloomberg reported.

The bill is aimed at combating global warming. Therefore, demand for Bitcoin, acting as the largest cryptocurrency across the globe, may decline in the long run as it relies on an energy-intensive blockchain system. 

Company MarketCheese

Recommended

Canada. Trade Balance. The value of the indicator has decreased from $0.24B to $-0.58B
1 hour ago
United States. Trade Balance. The value of the indicator has increased from $-48.1B to $-29.4B
1 hour ago
European Union. Unemployment Rate. The value of the indicator has decreased from 6.4% to 6.3%
Today at 10:00 AM
European Union. PPI (MoM). The value of the indicator has increased from 0.1% to 0.5%
Today at 10:00 AM
European Union. PPI (YoY). The value of the indicator has decreased from -0.5% to -1.7%
Today at 10:00 AM
Top news
United States. Trade Balance. The value of the indicator has increased from $-48.1B to $-29.4B
1 hour ago
European Union. Unemployment Rate. The value of the indicator has decreased from 6.4% to 6.3%
Today at 10:00 AM
European Union. CPI (MoM). The value of the indicator has increased from -0.3% to 0.2%
Yesterday at 10:00 AM
United States. ISM Manufacturing PMI. The value of the indicator has decreased from 48.2 to 47.9
5 January
European Union. Manufacturing PMI. The value of the indicator has decreased from 49.2 to 48.8
2 January
All news

Forecasts

Gold buy
Period: 31.01.2026 Expectation: 150 pips
Buying gold on dips with $4,500 target
FA Other Chart analysis
30 December 2025 322
Bruce_Powers
Tesla Inc sell
Period: 06.01.2026 Expectation: 2900 pips
Tesla stock selloff on forecasts of declining deliveries and earnings
TA Other Technical analysis FA Other Indicators Fundamental analysis
30 December 2025 145
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
AUDUSD buy
Period: 16.01.2026 Expectation: 1000 pips
AUDUSD is consolidating ahead of renewed upside
FA Other Indicators Chart analysis
30 December 2025 137
Tom_Kern
BTCUSD sell
Period: 06.01.2026 Expectation: 3125 pips
Selling BTCUSD due to lack of momentum after December consolidation
Technical analysis FA Other Indicators and reports Indicators Fundamental analysis
30 December 2025 88
Emily_Foster
S&P 500 buy
Period: 15.01.2026 Expectation: 100 pips
Investing in SPX from $6,870
Indicators and reports Chart analysis
30 December 2025 101
Bruce_Powers
Silver sell
Period: 09.01.2026 Expectation: 7500 pips
Silver rally stalls as prices push past $80
FA Other Indicators Chart analysis
29 December 2025 156
Tom_Kern
Go to forecasts