The price of Bitcoin (BTC) fell below $13,000 on Oct. 28 shortly after hitting $13,850 at the day’s peak. Despite the 7% drop in 11 hours, however, the market sentiment remains positive for three key reasons. First, Bitcoin is still at where it was on Oct. 27, merely 24 hours ago. Second, BTC rose to $13,850, right below a multi-year resistance area at $13,873. Third, a marketwide drop was expected due to declining stablecoin inflows into exchanges. Bitcoin drops to where it was yesterday In… Source link

Source: Inked Pixels – Shutterstock Former Goldman Sachs employee Raoul Pal predicts the possible migration of gold investors to Bitcoin (BTC). MicroStrategy CEO reveals that he owns 17,332 BTC which he bought at a price of $9,882. The last few months have been bullish for Bitcoin in terms of adoption. Some of the largest companies in the S&P 500 and the payment processing sector have adopted the cryptocurrency. Among them, PayPal is one of the most important. Since its announcement, BTC has… Source link

Photographer: Andrey Rudakov/Bloomberg Photographer: Andrey Rudakov/Bloomberg Bitcoin advocates say this time will be different as the virtual coin surges back to price levels last seen in the wake of the cryptocurrency… Source link

According to on-chain data from the analysts at Whalemap, $13,000 has become a support level for the price of Bitcoin (BTC). Whale clusters indicate that whales — or large BTC holders — are continuously accumulating. Whale clusters form when a large number of BTC are transferred to a new address and the BTC is unspent. This indicates that whales either bought or transferred their BTC to other whales, signifying buyer demand. A large whale cluster has emerged at the $13,000 level, which… Source link

Bitcoin (BTC) has already hit an all-time high this week, according to one price measurement from popular statistician Willy Woo. In a series of tweets on Oct. 27, Woo added to his recent bullish prognoses on Bitcoin, noting that one valuation of BTC/USD was now higher than ever before. Woo: “Price will follow” NVT valuation Woo was referring to Bitcoin’s network value to transactions (NVT) ratio, which aims to suggest when the Bitcoin network is overvalued compared to the actual value of… Source link

Nevada-based cryptocurrency mining firm Marathon Patent Group has announced the purchase of 10,000 Antminer S-19 Pro ASICs as part of its plan to become the largest mining firm in North America. The publicly traded firm announced the purchase on Oct. 26, revealing plans to command an operational hash rate of 2.56 exahashes per second (EH/s) in July 2021 — equal to 1.9% of the current hashing power of the entire Bitcoin network. Marathon Patent Group’s projected hashing power growth until… Source link

Bitcoin (BTC) transaction fees have nearly tripled in three days, from $3.52 to $10.20 on average. According to crypto market data aggregator Glassnode, 22.25% of Bitcoin miners’ income is currently made up of fees, with the other 77.75% coming from block rewards. The share of fee revenues is currently the highest it has been since the plateau of the last all-time high in January 2018 — which followed fee revenues spiking to almost a 45% share during the previous month. The percentage of

Ethereum Ethereum rose by 3.22% on Tuesday. Reversing a 3.25% slide from Monday, Ethereum ended the day at $405.74. It was a relatively range-bound start to the day. Ethereum fell to a late morning intraday low $390.35 before making a move. Steering clear of the first major support level at $379.73, Ethereum rallied to a late intraday high $411.77. Ethereum broke through the first major resistance level at $408.99, before easing back to $405 levels. At the time of writing, Ethereum was down by… Source link

Billionaire rap mogul-turned U.S. presidential hopeful Kanye West has made waves with his controversial bid for the White House. West, who announced he was planning to run for office back in 2015, has built his Birthday Party campaign around his relationship with God and religion—advocating conservative Christian values. Now, appearing on Joe Rogan’s popular podcast, West has said he thinks “geniuses” in the bitcoin and cryptocurrency community “have a perspective” on the “true… Source link

FILE PHOTO: Representations of virtual currency Bitcoin are seen in this picture illustration taken Reuters Bitcoin surged more than 3% on Tuesday as it approached a key resistance level at $14,000. Recent positive developments for the digital cryptocurrency include PayPal allowing its account holders to buy, sell, and transfer bitcoin, as well as Square’s bitcoin purchase worth $50 million. If bitcoin is able to decisively trade above the $14,000 level, the next level of resistance… Source link