Bitcoin

Bitcoin price recently witnessed a sharp decline that led it to test the $9,200 lows. However, the bulls gained strength and were able to push the price back into the $9,500 region. This price volatility has made the crypto vulnerable to witnessing a further decline in the coming sessions. Notably, buyers aggressively confronted this deal with buying pressure, confirming that it does have some important support within the lower $9,000 levels. Some analysts have pointed out that the flagship cryptocurrency…

Bitcoin emerged in 2008 and two years later in 2010, a website declared it dead. Interestingly, Bitcoin continues to grow such that it is now incurring a bull run as it is moving towards $10k price level. However, the website that declared it dead at the time is no more. The leading cryptocurrency has been proving its critics wrong based on its success over the last decade. Critics say many things about Bitcoin; some say it is a scam, Ponzi…

The General Protocols startup has been able to raise over $1 million in a seed funding round. It is now working on the development of its Decentralized Finance (DeFi) on Bitcoin Cash (BCH). This funding round enables the team based in Singapore to come up with their flagship product AnyHedge on Bitcoin Cash. As an open source derivatives tool, Anyhedge allows the creation of new markets with smart contracts when embedded by exchanges and OTC desks. The investors that provided…

More firms are now using Ripple and XRP to send money across borders. This information was revealed by Ripple's team on May 7, 2020. According to the team, BTC Markets added XRP to its exchange in 2018. Since then, the cryptocurrency asset has been able to bring more sustainable growth for the biggest exchange in Australia, being a source of liquidity for faster and cheaper cross-border payments. Towards the end of 2019, the exchange became a partner with Ripple and applied for…

People usually compare the cryptocurrency market to the traditional market. Bitcoin is volatile thereby making it a challenge for the investors in equity or other asset class. In spite of the volatility, Bitcoin and cryptocurrencies have been able to attract institutional investors over the previous 12 to 18 months. Nevertheless, the uncertainty that reflects in the traditional market has contributed to the achievement. On May 5, Kevin Kelly of Delphi Digital featured in the recent episode of Block Crunch. He noted that…

For most days last month, the performance of Ethereum was not impressive while Bitcoin was able to gain enough momentum that pushed its price to the upside to become the cryptocurrency asset with the best performance. In recent times, Coinmetrics released the State of the Network report which noted that the market capitalization of Bitcoin increased by 17% within the previous week. Likewise, it said that the active addresses rose to 928,000 (12.2% increment). Nevertheless, the outstanding statistic was the rise in Bitcoin transaction…

Several cryptocurrency market participants are clamoring for greater adoption. This is because it will promote the philosophy of cryptocurrencies worldwide. Recently, authorities worldwide took steps to regulate cryptos thereby clearing the way for more adoption. Bitcoin is gaining traction in developing countries worldwide even as numerous individuals consider the leading cryptocurrency as an investment vehicle. Continents that appear to be at the center of the fresh sway of adoption for Bitcoin include Latin America, Africa and Asia. Matt Ahlborg featured…

The growth of Bitcoin mining space has been exponential over the past years. When Bitcoin first emerged, mining depended on personal computers and GPUs. Currently, mining involves exceedingly well-organized mining pools that depend on cutting-edge ASIC miners. Due to the growth in scale of operations, people have been questioning the environmental cost involved in Bitcoin mining. Marco Streng of Genesis Mining talked about large-scale mining operations in the recent episode of the Untold Stories podcast. He discussed the environmental effects and the challenges related…

On April 20, crude oil incurred a momentous price decline by 99 percent. This unexpected decline increased the difficulties posed by the coronavirus pandemic. The difficulties are more in nations where fuel is 90 percent of all exports. Due to correlation among traditional assets, the swift decline affected gold and SPX. However, when we examined the cryptocurrency markets, it was discovered that on the same day, Bitcoin incurred a 4.9 percent decline. Bitcoin experienced rejection at $7.2k price level. As at the time…