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

United States. CB Employment Trends Index. The value of the indicator has decreased from 108.08 to 107.56
Today at 2:00 PM
United States. All Car Sales. The value of the indicator has decreased from 2.74M to 2.52M
Today at 12:48 PM
European Union. PPI (YoY). The value of the indicator has increased from 5.8% to 8.2%
Today at 9:00 AM
European Union. PPI (YoY). The value of the indicator has increased from 5.8% to 8.1%
Today at 9:00 AM
European Union. PPI (MoM). The value of the indicator has increased from 1.6% to 1.9%
Today at 9:00 AM
Top news
United States. Nonfarm Payrolls. The value of the indicator has decreased from 133K to 29K
2 October
United States. Unemployment Rate. The value of the indicator has increased from 4.1% to 4.2%
2 October
European Union. CPI (MoM). The value of the indicator has increased from 0.4% to 0.6%
2 October
United States. ISM Manufacturing PMI. The value of the indicator has decreased from 54.6 to 54.5
1 October
European Union. Unemployment Rate. The value of the indicator remained at the same level of 6.4%
1 October
All news

Forecasts

S&P 500 buy
Period: 05.11.2026 Expectation: 105 pips
Invest in SPX with $7,815 target
Indicators and reports FA Other Chart analysis Hot news
Today at 10:42 AM 17
Sinclair_John
EURUSD sell
Period: 05.11.2026 Expectation: 2500 pips
Selling EURUSD amid debt market struggles in eurozone
Indicators and reports FA Other Chart analysis Hot news
Today at 08:52 AM 24
Reed_Marcus
GBPUSD sell
Period: 02.11.2026 Expectation: 5150 pips
GBPUSD sell-off targets 1.27000
Indicators and reports FA Other Hot news Indicators
02 October 2026 66
Sinclair_John
AUDUSD buy
Period: 31.12.2026 Expectation: 1610 pips
Go long on AUDUSD with 0.7200 in sight
TA Other FA Other
02 October 2026 56
Bruce_Powers
Brent buy
Period: 16.10.2026 Expectation: 500 pips
Invest in Brent crude with $106 in view
Indicators and reports FA Other Chart analysis Hot news
02 October 2026 85
Reed_Marcus
AUDCAD buy
Period: 30.11.2026 Expectation: 1000 pips
Buy AUDCAD from channel's lower boundary
TA Other FA Other
01 October 2026 62
Bruce_Powers
Go to forecasts