Bitcoin

In February 2020, Bitcoin mining difficulty lowered by 0.38%, and it may be partly a result of government quarantine against the coronavirus in China; hence the mining delays. Despite the decrease, the hash rate during the period posted strong performance and even hit an all-time high of 136 EH/s. Miners expect the total network difficulty rate to bounce back by over 10% on March 10, as hardware delivery slowdown caused by the coronavirus outbreak abates. Since mid-February, the Chinese government…

Square Crypto, announced the awarding of new grants to 2 BTC developers as per a Medium post. This Bitcoin development initiative is a product release of Square Inc, owned by Jack Dorsey.  A Bitcoin Core contributor and protocol researcher, Jon Atack, and the prominent BTC developer, Tankred Hase are the recipients of these grants. Hase has been working on enhancing the user experience while simplifying the self-custody of smaller amounts of BTC. The developers are to utilize the grants towards…

A stern warning by the incoming governor of the Bank of England, Andrew Bailey, has been issued against investing in Bitcoin. In a 4th March 2020 Address to the UK's members of parliament, Bailey said that Bitcoin lacks any intrinsic value. Anyone investing in Bitcoin must thus be prepared to lose all their funds. He chipped at the failure of Bitcoin to live up to its expectation of widespread adoption. The incoming governor starts his duty as the new head…

The bitcoin stock-to-flow model creator, Plan B, is confident that the coin's price will stay around $10,000 after the halving. He is even more optimistic of its future price, expecting a gradual climb to the $100,000 model value by December 2020. The stock-to-flow (S2F) model aims to make predictions of the Bitcoin (BTC) price based on its supply cuts. Many investors, however, criticize this, holding the view that BTCs price is rather demand-driven. Regardless of the criticism, a host of…

For privacy and security purposes, the Exodus 5G Hub harbours services like VPN and crypto-oriented Brave browser. Nevertheless, the feature that genuinely makes the new HTC release stand out is its ability to directly run a Bitcoin node. Additionally, this new product is set to help users manage their cryptocurrency holdings with the backing of the topnotch Zion Vault wallet. The Vault, which comes as a pre-installed app on HTC Exodus, supports several coins including Bitcoin (BTC), Binance Coin (BNB)…

The past few weeks have seen the BTC price dip below the $9,000 support against the USD. Despite attempts being made to bounce it back, it still ended up settling down below the 100 hourly simple moving average (SMA). BTC Upward Correction Prices recently dropped to a low of around $8,403, before making an upwards correction. Bitcoin is currently trading slightly above the $8,450 and $8,500 levels. A keynote was the recent break above a key bearish line, coupled with…

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 $245 billion. Bitcoin loses momentum and falls below $9,000 Ethereum value drops below the $220 support level. XRP ends at $0.23 and continues its depressing devaluation Concerns over the coronavirus spread along with the flu past China’s borders. Crypto Trends 24th Feb – 01st Mar 2020: PERFORMANCE & ANALYSIS The last week has seen…

There is a decline in premiums for the CME Bitcoin Futures contracts traded on a monthly, quarterly, and semi-annual basis relative to their week-on-week average. This finding is according to a recently compiled report by Arcane Research. Drop Surprise  Slated for an end of March expiry, these contracts saw a 0.60% CME increase and a 1.19% premium increase on unregulated exchanges. The June 2020 contracts on the other hand saw a drop of 2.71% and 3.29% premium and CME on…

While bitcoin mining is quite a profitable venture, it comes with a negative environmental impact that can't be ignored. Revealing research by PWC's Alex de Vries paints a very startling picture. About 98% of existing crypto mining hardware will become obsolete quite soon. That's a lot of e-waste in waiting. Shorter Life Spans of ASIC Miners Expected The competitive nature of mining is always on the increase thanks to sustained surges in hash rate and mining difficulty. In about 10…