Nicolas Economou/NurPhoto via Getty Images Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Grayscale Investments. Investors understand that “buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money,” Sonnenshein told Business Insider. Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin… Source link

In brief Ethereum mining difficulty today hit a two-year high. It measures how hard it is to find mine blocks on the Ethereum blockchain, which are required to process Ethereum transactions. The mining difficulty increase follows its booming price. Ethereum’s mining difficulty today hit a two-year high. Mining difficulty on the Ethereum blockchain jumped to 3,650 terahashes at around 11:15 UTC today, its second-highest level ever, data from market analytics firm Glassnode shows. By a… Source link

Bitcoin topped $18,600 on Friday, continuing a vertical climb that accelerated in early October. The largest digital currency by market cap is up 160% in 2020, and up 190% since March 15, following a crash in the second week of March that saw the price drop 25%. Now it’s not far from its all-time-high of around $19,800 toward the end of December 2017. Bitcoin (BTC) bulls are hoping this time is different. And it is, judging by the breathless media coverage and general mania: there isn’t… Source link

A pullback in the price of Bitcoin (BTC) is likely, based on several on-chain data points, namely the Spent Output Profit Ratio (SOPR) indicator, stablecoin inflows, stacked sell orders at $19,000, and the Crypto and Fear Index. However, the question remains when that correction would occur. Profit-taking pullback possible with lower buy pressure The  SOPR indicator essentially gauges how profitable Bitcoin holders are at the moment. When the SOPR is high, BTC is at risk of a profit-taking… Source link

Disclaimer: The findings of the following article attempt to analyze the emerging patterns in Litecoin’s long-term market and its impact on the price Litecoin’s market has been peaking lately, like most of the altcoin market. In fact, the price of the digital asset rose close to the resistance at $85.10, with the same also re-visiting the price levels last seen in February 2020. With the cryptocurrency’s price testing the resistance at the current level, a short position could be… Source link

Illustration by Elias Stein Text size Bitcoin has been running with the bulls again, up… Source link

Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons. The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach. BTC/USD 4-hour chart. Source: TradingView.com Bitcoin is seeing reduced sell pressure For… Source link

PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price.  In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal. PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in… Source link

Bitcoin’s rise and popularity is overshadowing the resurgence of a rival digital asset that some believe might one day surpass its predecessor. Ether coins, which run atop the ethereum blockchain have risen by about 5.7% so far this week, compared against bitcoin’s BTCUSD, +0.29% nearly 13% run-up over the same period. However, a plodding rally for Ether ETHUSD, +0.24% has helped it to post a nearly 292% ascent,… Source link

In November 2017, after an absolutely massive, two-month rally, Bitcoin passed $10,000 for the first time. And then, over the next 20 days, it soared even higher, reaching a price of $19,665 and roughly $329 billion in market cap, according to CoinGecko.  The moment felt unreal. How did this new digital asset rise from being an obscure playground for cryptography geeks to something worth hundreds of billions? Even then, unable to categorize it as a currency or commodity, many experts… Source link