Bitcoin

Cryptocurrency exists as a natively digital entity that needs to be protected. We have crypto wallets and software programs to store your crypto assets' keys. Unfortunately, these software programs being dubbed "wallets," confuse new users. Crypto wallets don't store cryptocurrency the same way pocket wallets store currency. They only store your private and public keys that help with transactions. These keys are unique letters and numbers that allow you to send and receive cryptocurrency.  Whereas public keys are open to…

Over the past 24 hours, Bitcoin incurred a high volatility such that it led to the sub-$9k area. The leading cryptocurrency incurred notable bullish pressure at this level, thereby returning to its past consolidation range in the mid-$9k area. Interestingly, a huge inflow of BTC into exchanges happened at the same time. This suggests that investors consider this latest dip basically remarkable, and these new inflows could put more pressure on the market. According to an analyst, Bitcoin supply could…

Bitcoin has been trading tightly within a range between $9.3k and $9.5k over the previous few days, making it part of the cryptocurrency asset’s consolidation in the past two months which restricted the price action below the critical $10k barrier. Bitcoin market has been dull, such that it is about to attain a level of volatility not recorded since the beginning of 2020. Nonetheless, there is emerging proof that a breakout towards the downside is on the way. Bitcoin’s on-chain…

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 $267 billion. Bitcoin failed to go over the $10K level, and it ends the week trading in the red. Ethereum decreased by 2.5% over the past week but looking to surge again. XRP lost more than 4% and fell below $0.20 again Fears of a second wave of COVID-19 infections have shaken the markets…

After being dubbed as a climate warming accelerator, Bitcoin is about to change sides and fight climate change. Is it possible for an industry that spends almost 0.13% of the world’s annual power consumption only on mining Bitcoin to become eco-friendly? And, if so, how will it go about it? Today, we take a closer look at the challenges that cryptocurrency faces in its bid to become “green.” We delve into alternatives to the energy-devouring mining process and how the…

On the 4th of December, 2012, a paper was released by cryptographer, mathematician, and President of the Israeli Bitcoin Association, Mr. Meni Rosenfeld. The article was titled "Overview of Colored Coins," wherein Meni explained a mechanism to take advantage of Bitcoin's "fungibility" by segregating a certain number of coins from the rest for particular purposes. Meni argued that adding "specialty" to coins by segregating them from the rest could help form niche applications within the Bitcoin blockchain. By "coloring coins,"…

Another cryptocurrency has been assigned an emoji on Twitter and it is not ETH, USDT, XRP or any other top cryptocurrency as numerous individuals were anticipating ETH to get it following BTC. The new Twitter emoji was assigned to cryptocurrency payments platform Crypto.com. Anytime anyone types the hashtag #CRO, the emoji will appear automatically. This makes the firm’s native cryptocurrency the second coin to be assigned an emoji on Twitter following BTC. However, what makes this feature worthwhile is the…

Part of the Bitcoin stolen by hackers from a hack against cryptocurrency exchange Bitfinex in 2016 has been moved. The hackers did not touch the funds worth millions of dollars for about four years. The movement of the funds was noted by Whale Alert, a Twitter bot that tracks the movement of large trades. It was carried out in twenty transactions and the value of each transaction was between 18 and 33 Bitcoin. The transaction with the lowest value was worth $184,868 while the highest was worth…

A recent report by TokenInsight noted that China is losing its dominance over the Bitcoin mining industry. The report released by the cryptocurrency analytics company cited data from Cambridge University’s Centre for Alternative Finance. According to the data, the aggregate electricity usage of Bitcoin miners from China was 75.63 percent in September last year and it declined to 65.08 percent by April 2020. During the same period, the data revealed that electricity consumption from Bitcoin miners in the United States rose from 4.06 percent to 7.24 percent. Similarly, it seems Bitcoin mining…