The median confirmation time for transactions with miner fees to be included in a mined block and added to Bitcoin’s ledger has decreased substantially on the day that the halving is estimated to take place. If the rate continues as it is, the event will take place a few hours sooner than expected. 10 Blocks...Read More
Bitcoin’s volatility is breaking records, as the primary cryptocurrency approaches its third halving in a few hours. After yesterday 20% plunge to $8K, Bitcoin had recovered more than halfway. As of writing these lines, Bitcoin is trading around the $9000 mark. As we stated here on yesterday’s BTC analysis, the violent plunge that took place...Read More
New data comparing Bitcoin’s fundamentals now and around the second halving in 2016 demonstrates the immense growth of the network. Double, triple, and even quadruple-digit increases are evident in almost all areas, including the number of BTC addresses, the hashrate, and the daily transaction volume. 2016 Vs. 2020 Bitcoin Addresses While most members of the...Read More
Bitcoin’s halving is estimated to take place in less than a day, and transaction fees are surging. This is indicative of users willing to pay a premium for their transactions to be prioritized and also of the increased number of unconfirmed transactions. Bitcoin Transaction Fees Above $3 Transaction fees on Bitcoin’s network have been increasing...Read More
With only two days left to the third halving, severe levels of volatility reached the cryptocurrency market, and Bitcoin plunged by 20% in a matter of hours. Similar price developments transpired back in July 2016 when, again, two days before the second halving, BTC dropped by 11%. History On Track In 2016 and 2020 As...Read More
This was one of the worst days for Bitcoin’s price over the past years. Starting yesterday just one step away from the $10K mark, Bitcoin saw an intraday crash to below $8000, before a slight recovery. At some point, the daily candle reached almost 20% in the negative. Anyone who knows Bitcoin can’t say it’s...Read More
Bitcoin crashed 10% in 30 minutes, and almost 20% over the past hours, plunging below $8000 on some exchanges. Just two days before the anticipated Bitcoin halving event and no more than 48 hours after touching the $10K mark, a classic “sell the news” dump had initiated. As of writing these lines, the price of...Read More
Bitcoin is currently down by 1.5% after a surging to $10,000 mark on Thursday, but a rebound could be underway. The primary cryptocurrency is looking for a substantial rebound level around $9,400 Key Resistance Levels: $9,800, $10,000, $10,475, $10,970 Key Support Levels: $9,450, $9,100, $9,000, $8,500 BTC/USD 1D. Source: TradingViewBitcoin’s recovery from the March crash...Read More
The past couple of months have been nothing but a wild ride for Bitcoin. In the middle of March, when the coronavirus started to spread in the Western World, and markets reacted swiftly, BTC lost more than 40% and tumbled to $3,600. Now, less than two months later, the price is not only fully recovered...Read More
The majority of Bitcoin holdings are currently in a profitable position following the recent rally of the largest cryptocurrency by market capitalization, data from on-chain data provider Glassnode shows. The UTXO Realized Price Distribution (URPD) metric from the data firm puts the proportion of the moneymaking Bitcoin at 81%. What Is UTXO Realized Price Distribution...Read More
Only four days left until the Bitcoin halving event. This by itself could have been enough to fuel the primary cryptocurrency beyond the $10,000 mark. Maybe it happened faster than expected, Bitcoin just reached the 5-digit mark for the first time since February 24, 2020. As of writing these lines, BTC completes an incredible 35%...Read More
The popular American hedge fund manager, Paul Tudor Jones II, said that he is buying Bitcoin amid the growing trend amongst world central banks to print excessive amounts of money. He added that the hedge fund he founded in 1980, Tudor Investment Corporation (Tudor BVI), could start allocating portions of its assets in Bitcoin futures....Read More
Millions of US citizens received a stimulus check worth $1,200 in the last few weeks as government aid to fight the effects prompted by the COVID-19. Interestingly, if that amount was invested in Bitcoin when the first checks were initially received, it would have grown to $1,600 by now. $1,200 Becomes $1,600 In Weeks According...Read More
As we are getting closer to the halving event, Bitcoin is likely to mark its third consecutive green day, where the primary cryptocurrency had increased more than $1000 over the past four days. As of writing these lines, it seems like $10K will come in a matter of hours. If you had followed our price...Read More
Bitcoin has come a long way since it was first introduced to the world when its pseudonymous creator Satoshi Nakamoto published the whitepaper. In its first days of trading in 2010, BTC had a price of around $0.003. To those who have been in the market long enough, this price seems like that of many...Read More
A record-breaking number of 210 Bitcoin options contracts were traded yesterday on the Chicago Mercantile Exchange, which set up a new all-time high of nearly $10m. Of the total amount, 202 contracts were May calls (bullish), while 8 were May puts (bearish). CME Bitcoin Options Volume On The Rise CME launched options on Bitcoin in...Read More
Bitcoin’s price has been recovering steadily since the crash in mid-March. With it, most of the altcoins are also growing, charting notable increases altogether. However, BTC is also taking over the market as its dominance has been going up continuously. Bitcoin Dominance Highest Since January 2020 Bitcoin’s dominance is the index that measures the cryptocurrency’s...Read More
Over the past two days, Bitcoin price seems to be consolidated in a triangle pattern, as can be seen below on the following shorter timeframe chart (the 4-hour). The symmetrical triangle consolidates around the $9000 benchmark, where its apex is anticipated somewhere in the next day. However, as we learned before, Bitcoin might break of...Read More
Some of the most popular cryptocurrency-related channels on YouTube indicated that the giant video platform is shadowbanning Bitcoin videos. Several YouTubers complained that the new practice began two days ago, which coincides with a recent core update from Google. YouTube Reportedly Shadowbanning Bitcoin Videos The most widely used video-sharing platform has a continuous quarrel with...Read More
Polls surveying over 15,000 people suggest that the majority believe Bitcoin’s price is likely to dump as the halving happens and skyrocket later on. This coincides with the behavior of the cryptocurrency following the previous halvings. Mooning Postponed, Bitcoin Will Dump At Halving A few well-known members of the cryptocurrency community recently initiated polls to...Read More
A new analysis implies an inverse correlation between the price of Bitcoin and the total supply of USDT on cryptocurrency exchanges. According to it, the declining amount of Tether sitting on exchanges could soon propel another increase in BTC’s price. Bitcoin’s Price Related To USDT On Exchanges? New data compiled by the cryptocurrency monitoring company,...Read More
Days before the third-ever Bitcoin halving, the interest towards the primary cryptocurrency has surged, according to Google trends. The phrase “buy Bitcoin” is getting very close to the previous two-year high levels of June 2019’s bull-run and the March 12 dump of this year. Buy Bitcoin Search Volume Increases Significant attention is heading Bitcoin’s way,...Read More
After reaching over $9400 a few days ago, the Bitcoin price corrected down to the Golden Fibonacci level at $8400, and since then, BTC is trading mostly around the $8600 price range. As can be seen on the following 4-hour chart, there is a lower highs trajectory on the short-term timeframe, getting closer to the...Read More
Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the...Read More
According to a new study, the total trading volume of cryptocurrency derivatives has increased dramatically by over 300%. At the same time, BitMEX’s leadership position in the field has been challenged by Huobi, OKEx, and Binance. Derivatives On The Rise And amid the most apprehensive days of uncertainty prompted by the eventual aftermath of the...Read More
The recent Bitcoin price increases, and the upcoming halving have brought back media attention. CNBC recently explained the upcoming halving and made a bold prediction claiming that BTC could surge soon. CNBC Believes Bitcoin Will Surge Bitcoin made an appearance on CNBC’s Fast Money on Friday following the recent price surge. Crypto-friendly expert, Brian Kelly,...Read More
The latest price developments helped Bitcoin’s price to recover following the massive sell-offs in mid-March. However, while most features of the cryptocurrency market have reclaimed previous positions, a few are still showing weak charts. Bitcoin Price Recovered Since Black Thursday The year started quite positively for Bitcoin and the entire cryptocurrency market. Interest, trading volumes,...Read More
Tether, the issuer of the dollar-pegged stablecoin USDT, is in the limelight again as the company’s treasury minted fresh USDT worth more than a billion dollars in a single month. Tether Mints 1.6B USDT in April. From April 1, 2020, to April 30, accumulated records from Whale Alert, a platform that tracks large crypto transactions...Read More
This past week was a blessing for the price of Bitcoin. The primary cryptocurrency was trading around $7500 just a week ago, while the highest of the past week reached over $9400. Only ten days left until the anticipated Bitcoin halving event, and so far, it seems like BTC fires its engines. As of writing...Read More
Bitcoin’s halving is right around the corner. It will slash the block reward miners get from minting new bitcoins in half and potentially reduce the supply of the cryptocurrency on the market. Historically, this has been a major bullish catalyst for Bitcoin as its price has so far increased substantially after the two previous halvings....Read More
