The term decentralized currency was meant to signify a virtual currency that would be based on the logic of mathematics and economics, mined from the blockchain and stored in one’s digital wallet, assigned by a private key. However, that is not the case. In a recent piece on the Bankless blog, Coinmetrics co-founder Nic Carter...Read More
Bitcoin’s price has been on a wild ride this week. So far, January definitely doesn’t disappoint in terms of volatility and excitement. Seven days ago, Bitcoin was trading at slightly above $7,300. As the week progressed, however, its price shot up to $8,400 only to pull back down to $7,700 from where it’s currently recovering....Read More
Bitcoin halving is expected to take place around May 2020 and it will prompt the inflation rate to decrease by ~1.7%. The halving will also result in the overall mining cost to become expensive, replacing the use of lower-end mining hardware with active ASICs second-hand market, according to TokenInsight’s report. Cloud mining, a type of...Read More
Bitcoin always had its critics. From regulators to bankers, the financial aspect of Bitcoin was a bone of contention to many. Another pain-point with Bitcoin was its production, or rather the energy-intensive nature of Bitcoin mining. Financial freedom for environmental harm was a small price to pay for many. Yet some could not balance the...Read More
According to new research by Kaspersky labs, the infamous Lazarus group used ‘enhanced capabilities’ to attack cryptocurrency businesses. The firm has been following the cyber theft campaign dubbed ‘Operation Applejues’ since 2018 and according to its report, victims across the world including the UK, China, Poland, and Russia have been affected. The hackers used the...Read More
Bitcoin’s recent rally was delayed but it arrived nonetheless; the price shot up by ~16% in 3 days to $8,436. However, the rally has stopped and reversed as the retracement continues. This can mean two things for Bitcoin, a short retracement prior to another pump; exhaustion of the surge. The latter seems more plausible due...Read More
Bitcoin saw a 7.51% price increase over the past week that allowed it to rise above the previous range it was trading within. The cryptocurrency broke above the upper boundary at $7,800 and continued to surge much higher as it reached expected resistance at the 200-days EMA at around $8,160. The cryptocurrency did climb even...Read More
Bitcoin difficulty and hash rate are two important factors that determine network health and also the state of miners. According to CoinMetric’s estimates, the difficulty will hit a new all-time high of 15 trillion in four days. In a recent tweet, CoinMetrics mentioned that there would be an ~8% increase in Bitcoin’s difficulty making it...Read More
Bitcoin isn’t high among the list of addresses who own over 1% of a crypto asset. | Source: Shutterstock.com Bitcoin is more fairly distributed than altcoins. Cardano may be dangerously centralized. Whales are still a significant issue for BTC. When contemplating crypto whales, the knee jerk reaction is to automatically think, “lotsa bitcoin;” However, according...Read More
Prominent Bitcoin Futures and Options Exchange, Deribit has announced that it will be moving to Panama, from the Netherlands. The derivatives platform informed through a blog post that from 10 February 2020 Deribit.com will be operated by DRB Panama Inc., a 100% subsidiary of the Dutch entity. The decision of the exchange followed the “strict...Read More
China’s central bank is reportedly preparing a new set of stricter rules that will affect public privacy and personal information. The update will make nine significant changes regarding leasing services and other types of financial transactions, and the community has quickly brought up Bitcoin and its potential to be used freely in similar situations. China...Read More
Bitcoin is known by many names. According to the white paper it’s called the “peer-to-peer electronic cash system,” to its adherents it’s hailed as the “tool for financial freedom,” to the bankers it’s “fool’s gold.” One definition that most can agree on is that Bitcoin is a “decentralized currency” The first of its kind. But,...Read More
Bitcoin, despite being only 10 years old, has already left its mark on a lot of prominent and influential people. Elon Musk, who’s arguably one of the best-known and popular entrepreneurs in the whole world, has mentioned it again. And, moreover, staying completely true to his usual self, his statement could mean one of many...Read More
In a recently published annual report on Bitcoin mining for 2019, TokenInsight spoke about mining-related financial products that are available today, and how they might change in 2020. According to the report, ‘diversified financial products will be launched in the future, paving the way of fierce competition in 2020.” TokenInsight also pointed out how the...Read More
TokenInsight recently published its annual research report regarding the cryptocurrency mining industry in 2019. The report spoke about how most developed countries today have relatively progressive attitudes towards mining Bitcoin and other cryptocurrencies, as well as what factors affect where mining farms are set up. According to the same, “Low electricity cost, well-structured legal framework,...Read More
The heightened tensions between the United States and Iran have contributed to the narrative of Bitcoin as a safe haven asset. However, according to Perianne Boring, Founder of the U.S Digital Chamber of Commerce, this is not the first time the digital asset’s price has spiked during global uncertainty. In a recent interview, Boring recalled...Read More
Bitcoin [BTC] has always been the topic of discussion when anyone talks about cryptocurrencies. It has gained a relevant position in the tech and financial sector, even though many are still skeptical about investing in Bitcoin. 2020 may turn out to be an important year for Bitcoin due to its third halving event, an event...Read More
Bitcoin’s recent rally, although small and aberrant, was reminiscent of April 2019’s rally aka the April fool’s rally. Hence, looking at Bitcoin’s on-chain metrics might provide an insight into what transpired before the price peaked. The recent rally caused Bitcoin to surge by a considerable amount [20% in 4 days] after a week into the...Read More
2020 is shaping up to be a solid year for bitcoin – and less so for altcoins – according to Bloomberg. | Image: shutterstock.com Bitcoin equals digital gold, according to Bloomberg report. Altcoins set to suffer in 2020. The futures market will aid mass adoption. Bitcoin is going to boom this year. That’s the verdict,...Read More
Bitcoin’s price responded positively to the new year, with the coin finally pushing the $8k mark on 8 January. However, since the price spike was unforeseen, the price underwent a correction and soon, the price was back under $8k. At press time, Bitcoin was trading at $7922, with a 24-hour trading volume of $15.3 billion....Read More
The conflict between the United States and Iran showcased bitcoin’s emerging safe-haven appeal. | Image: shutterstock.com Bitcoin’s use-case has evolved over time. Recently, the top cryptocurrency has been surging under the safe haven narrative. While both gold and bitcoin moved higher due to geopolitical risk, the cryptocurrency has significantly outperformed the precious metal. Bitcoin’s primary...Read More
Analysts claim bitcoin is poised to make a run toward $9,000 after putting an end to the pullback. | Source: Shutterstock.com The deescalation of the situation in Iran may have triggered a round of profit taking in bitcoin. Multiple analysts remain bullish on the top cryptocurrency predicting that it won’t go any lower than $7,800....Read More
The Reserve Bank of Australia (RBA) has now confirmed that it is mulling over the digital version of the Australian dollar, a digitized currency commercial banks and other corporates across the country can now use to speed up transactions. According to an official submission presented before a Senate inquiry into financial technology, the RBA asserted,...Read More
In the January edition of Bloomberg’s ‘Crypto Outlook’ report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, wrote about Bitcoin and its potential in 2020, both in terms of price and adoption. In the report, McGlone stated, “The fact that a store-of-value asset with fixed supply and increasing adoption is more likely to appreciate in...Read More
Bitcoin Core contributor and guest writer for BitMEX Research, Michael Ford, recently published a report about the build system improvements for Bitcoin, while also expanding on his involvement in removing third-party software dependencies such as OpenSSL. The report, analyzing results from tests conducted by Ford, showed that the number of packages built in Bitcoin Core...Read More
Over the past week, a major event has heightened the tensions between the United States and Iran. However, this event’s impact was felt not just on the political scene, but in the financial sector as well. Hours after the United States launched a military strike that killed a major Iranian military commander, oil and gold...Read More
Legendary trader Peter Brandt recently presented two scenarios for bitcoin: One bullish and one bearish. The bullish scenario seems to be playing out. | Image: shutterstock.com Peter Brandt laid out two scenarios for bitcoin last month. The recent price action of bitcoin suggests that Brandt’s immediate bull scenario is playing out. Brandt teases his followers...Read More
Over the past 3 days, Bitcoin has witnessed a surge of 12.3 percent, a development that took its price valuation above the $8000 mark. However, the first week of January was found to be more bullish for altcoins, than the king coin. According to Coinmetrics, major altcoins like Ethereum, XRP, and Litecoin registered negligible growth...Read More
In a recent article for Nasdaq, Sumit Gupta, CEO of CoinDCX, one of India’s largest cryptocurrency exchanges, wrote about how cryptocurrencies could hold the keys to financial inclusion. In the article, Gupta cited the World Bank’s most recent Global Findex report which stated that as many as 1.7 billion people worldwide do not have access to formal...Read More
Bitcoin’s price appreciation in the face of strained sovereign relations supports a risk-off asset thesis rather than a safe haven. Bitcoin on the Move amidst International Tensions The recent rally in Bitcoin’s price has largely been attributed to the rising tension between the United States and Iran. The latest jump aligns with President Donald Trump...Read More
