Bitcoin

El Salvador's President Nayib Bukele has announced plans for his country to adopt Bitcoin (BTC) as the legal tender. Furthermore, the President affirmed that he would send a bill to the Senate seeking to make BTC the country’s legal means of exchange.  Mr. Bukele’s party and allies hold a majority of 56 out of the total 84 seats in the Senate. Analysts, therefore, suggest that the bill will likely pass. BTC, El Salvador's Optimistic Future  Speaking at the Bitcoin 2021…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,645 trillion. Bitcoin is trading more or less at the same price as last week after a 0.5% increase. Ethereum is up by more than 11% in the past seven days. XRP has increased by more than 6% over the week. Binance Coin, Polkadot, and Solana have recorded important gains throughout the week. The…

According to several on-chain features, the possibility of Bitcoin heading towards a significant price boost is still in the game. Miners have ceased disposing of their coins, including long-term hodlers. The Stablecoin Supply Ratio has also dropped substantially recently. Apart from being the root of the Bitcoin network, miners also have a notable role in the underlying asset price. For example, they can negatively impact BTC's price when they finally sell off massive portions. This was the case at the…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,525 trillion. Bitcoin is up by roughly 6% after a turbulent week. Ethereum is up by more than 23% over the past seven days. XRP has increased by 22% over the week. Binance Coin and Cardano benefit from value boosts north of 30% The DeFi sector gained almost $7 billion in total value protocols…

Since the launch of cryptocurrency and blockchain technology, several advancements concerning finance have been introduced. The idea was to make transactions safer, more reliable, and more permanent using blockchain.  Initially, the technology was focused only on providing payment currencies like Bitcoin, Litecoin, and Bitcoin Cash. More recently, crypto has focused more on providing comprehensive financial-related services, including trading and banking.  One service that crypto has replicated from the traditional banking systems is savings. Crypto assets are excellent modern-day savings tools…

American stockbroker and founding member of the Euro Pacific Asset Management Peter Schiff is skeptical about Elon Musk's idea of a sustainable BTC mining practice. The Tesla CEO attended a meeting hosted by Micro Strategy's head Michael Saylor to urge the North American Bitcoin miners and the global mining community to publish their current and planned energy usage.  In addition to that, the miners in attendance agreed to develop a Bitcoin Mining Council that will encourage sustainable initiatives on a…

Since its introduction in 2009 by Satoshi Nakamoto, Bitcoin has realized widespread adoption with substantial value growth. Bitcoin is currently the most prominent cryptocurrency in market capitalization with over 100 billion dollars. Its’ value has soared enormously since the launch despite several bearish runs that saw it lose value. Bitcoin relies on a highly replicated public ledger as a decentralized currency, secured utilizing a hash and validated via community consensus. On the Bitcoin network, a transaction is considered valid and…

Unease festered in the digital assets space over the past week as major coins such as BTC, ETH and ADA parried massive gains. The slide for crypto came amid heightened anxiety from investors after China underscored its resolve to crack down on crypto mining and trading. Meanwhile, the US Treasury Department unveiled its intent to enforce anti-money laundering laws. US financial watchdogs also proposed that cryptocurrency businesses start reporting over $10K to the government. Fear over intensifying crypto regulation inflicted…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,413 trillion. Bitcoin is down by 30% after another public bashing from Elon Musk and China regulators. Ethereum lost almost 47% of its value over the past seven days. XRP is down by 50% and is now trading again below $1. Binance Coin, Polkadot, and many other altcoins are down by 50%. The DeFi…