Bitcoin

Though Bitcoin has failed to hit some of the loftier December price targets earlier this year, Cathie Wood remains bullish on the asset long-term. She recently reaffirmed her $500k price prediction from months ago, so long as institutions continue to diversify into it. Despite a volatile spot price, institutional adoption has steadily grown throughout 2021. Staying Bullish On Bitcoin YESTERDAY MORNING, the ARK Invest CEO gave her price forecast with CNBC’s Squawk Box. When asked whether she thought the crypto…

US inflation numbers for November are out, and they’re looking bullish for long-term Bitcoin HODLers. According to Labor Department data, The Consumer Price Index (CPI) has risen by 6.8% from November 2020 to 2021. As with last month, Bitcoin’s price briefly jumped on the news before quickly descending back below $48k. Prices Keep Rising The US Bureau of Labor Statistics released November’s CPI data at 8:30 am EST this morning. The report indicated a 0.8% increase on last month’s already…

Bitcoin has seen a significant strengthening of its mining network in recent months. The network's hash rate has almost completely recovered from China's crackdown on mining. The hash rate is a measure of the total computational power that contributes to mining Bitcoin. A hash is a fixed-length alphanumeric code that miners have to solve to process BTC transactions. We measure the hash rate in exahashes (1 quintillion hashes) per second (EH/s). The hash rate is also a rough measure of…

Cementing his commitment to building on Bitcoin, Jack Dorsey’s “Spiral” (formerly “Square Crypto”) has released its Lightning Development Kit (LDK). The kit is available on GitHub and it helps people “build a lightning node without worrying about implementing low-level lightning logic correctly.” That means developers have received an easy-access resource for integrating Bitcoin payments into other apps. The Lightning Dev Kit Spiral announced its new coding library through a humorously presented video trailer on Monday. Its inspiration comes from an…

Days after Saturday's Bitcoin crash, the crypto market showed signs of recovery. Bitcoin shot past $51,000 per coin, up 7.8% in the last 24 hours. The largest crypto added some $72 billion to its market cap, which reached $969 billion. Bitcoin's rebound boosted other significant cryptos, usually trail the crypto market leader. Ethereum reached $4,390, a 10% increase over the day. Binance Coin traded at $588, up 6.42% in the same period. Solana jumped 12.37% to $201.66, while Cardano spiked…

History has been made in the realm of Bitcoin and cryptocurrency payments. For example, Bitwage – a cryptocurrency payroll and asset services company – recently processed the world’s first lightning network payroll. In what seems like a growing fusion between Crypto and Sports, the payroll belonged to USL professional soccer player Alex Crognale. Powering The Bitcoin Salary BitWage revealed the milestone in a statement to Bitcoin Magazine earlier today. Both Crognale and Bernard Parah – CEO of Bitcoin native Fintech…

On Sunday, Bitcoin dropped more than 16% on its worse trading day since May. The largest crypto traded at a low at $43,000 before settling at above $47,000. Usually, other major cryptos follow Bitcoin's price movements. Unsurprisingly, most major cryptos posted losses in the double digits as well. For example, Ethereum, the second-largest crypto by market cap, dropped 15% to $3,900. Just yesterday, the most significant intelligent contract token traded at $4,600. Binance Coin traded at $545, dropping almost 13%…

The SEC has not crushed VanEck’s hopes of expanding indirect exposure to the crypto industry. Following a failed attempt at a spot Bitcoin ETF, the fund manager has filed for a fund linking to digital asset mining companies. The ETF will be 80% invested in securities from crypto mining businesses. Exposure To The Mining Industry According to VanEck’s application with the SEC yesterday, the mining companies included must generate at least 50% of their revenues from mining activity. Furthermore, the…

India may issue a blanket ban on all cryptos, statements from top officials indicate. However, the government is drafting a new bill that would allow for the private use of cryptos. Just last week, the country introduced a Cryptocurrency and Regulation of Official Digital Currency Bill 2021. The bill spooked investors, as it was identical to the draft of the 2019 bill to ban crypto. The bill wrote that it intended to "create a facilitative framework" for India's official digital currency. To…