Bitcoin (BTC) price has had a tremendous month as the price rallied from $10,500 to $13,800. However, in recent days, momentum is slowing amid rising coronavirus fears. Bitcoin’s price dropped from $13,800 to $12,900 on Oct. 28, making the recent breakout a fakeout. Alongside a correction on the cryptomarkets, the equity and commodity markets also showed weakness. As the S&P retraced 4% on Wednesday, Silver also corrected 6%. The only asset doing relatively well was the U.S. Dollar… Source link

Combination locks inbuilt to sections of a hexagonal jigsaw puzzle which are interconnected of each other. 3D rendering graphics on the subject of Modern Digital Technologies. getty As well as bitcoin has performed this year, which has seen its price increase by 88%, it is far from the most profitable crypto year-to-date. One that has had an even better year is zcash, a leading privacy coin that shares many core elements of bitcoin’s value proposition, including its hard… Source link

Key Takeaways Monero miners are earning more fees than Litecoin and Bitcoin Cash counterparts.  Privacy ranks high among developers and users for payment-focused cryptocurrencies.  Share this article The privacy-centric cryptocurrency, Monero, is now outpacing leading altcoins as the industry turns a new eye to personal privacy. Monero Enters Mainstream Crypto Payments  The total fees on Monero have surpassed that of Bitcoin Cash in April and Litecoin towards the end of September… Source link

Bitcoin (BTC) hit seven ounces of gold for the first time in over a year this week as the precious metal comes off all-time highs. Data from CoinGecko showed BTC/XAU returning to the pivotal 7 ounce mark on Oct. 25, continuing to edge up to press-time levels of 7.02 ounces. Gold hits one-year lows in BTC Despite Bitcoin losing ground after challenging $14,000, the gains against gold remained on Thursday, as the traditional safe haven felt the pressure of Coronavirus tensions and U.S. election… Source link

While bitcoin’s rally over the past month has revived talks of its price reaching new record highs above $20,000 by the end of the year, the cryptocurrency’s options market continues to assign a very low probability of that scenario playing out.  At press time, bitcoin was seeing a 6% probability of bitcoin trading above the historical 2017 all-time high of $20,000 by the end of December, according to data source Skew.  Probability of Bitcoin Being Above $X at MaturitySource: Skew “A… Source link

Bitcoin (BTC) could see further downward price pressure this week as network difficulty is set to drop the most in five months. Data from data resource BTC.com estimates that difficulty will drop by 8.3% at the next automatic readjustment in four days’ time. Difficulty set to repeat June readjustment The mining difficulty is an essential measure of the competition among miners in finding block subsidies, and by extension, the overall health of the mining sector. Automatic readjustments… Source link

Ethereum Ethereum slid by 4.22% on Wednesday. Reversing a 3.22% gain from Tuesday, Ethereum ended the day at $388.63. It was a bullish start to the day. Ethereum rose to an early morning intraday high $409.52 before hitting reverse. Falling short of the first major resistance level at $414.89, Ethereum tumbled to an early afternoon intraday low $380.50. Ethereum fell through the first major support level at $393.47 and the second major support level at $381.20. Steering clear of sub-$380,… Source link

Bitcoin traders and investors are nervously watching traditional markets that have tanked this week. The bitcoin price, after climbing more than 20% over the last 30 days on the back of a slew of positive developments, has begun to wobble, sending warning signals to bitcoin traders—some of whom were already anticipating a correction. Now, bitcoin traders have turned their attention to 60,000 bitcoin options that are due to expire on Friday, October 30, potentially sending a $750 million… Source link

A total of 62K Bitcoin (BTC) options are set to expire this Friday, and this is equivalent to $830 million in open interest. These massive numbers fail to reflect the fact that 58% of these options are now deemed worthless. As we approach the expiry date, call (buy) options above the current level begin to depreciate very fast. It is not worth paying $20 for the opportunity to buy BTC at $14.5K on Friday morning. Therefore, rolling options to the next month is not that helpful. October BTC… Source link

Physical version of Bitcoin and dollar banknotes. Exchange bitcoin for a dollar symbol. Conceptual … [+] image for worldwide cryptocurrency and digital payment system. getty Bitcoin finally closed slightly higher than the previous weekly peak set in 2019 but then backed away Wednesday. That might be a chart breakout signifying new strength — if that level can be re-gained and held. The other cryptocurrencies tend to trade in similar patterns to one… Source link