Profitable bitcoin mining is essentially a result of an efficient and highly skilled team of professionals that can maintain runtime, a founder of a Bitcoin mining company has asserted. Therefore, even when the price is hovering around $20,000, a bitcoin miner with these attributes can still operate profitably. ‘Bitcoin Fundamentals Rarely Change’ The drop in value of bitcoin from just under $30,000 at the start of June to below $20,000 by mid-month is believed to be one of the… Source link

Fidelity’s director of Global Macro has shared his bitcoin and ether price outlook. His analysis shows that bitcoin is cheap but ether could be even cheaper. “Ethereum could be close to a bottom,” he added. Fidelity’s Director on Bitcoin and Ether Price Outlook Jurrien Timmer, director of Global Macro in Fidelity Investments’ global asset allocation division, shared his bitcoin and ether price analysis in a series of tweets Friday. Timmer specializes in global macro strategy… Source link

Fidelity’s director of global macro is evaluating where Bitcoin (BTC) and Ethereum (ETH) stand after months of price capitulation. Jurrien Timmer tells his 131,200 Twitter followers that Bitcoin is likely undervalued at current prices based on his S-curve model. The model attempts to gauge the value of BTC by predicting the future growth of its network based on the rate at which users adopted the internet. “Bitcoin and crypto in general have not been spared from the… Source link

The primary cryptocurrency has slightly recovered in the last few days and was able to reclaim the $20K level. This area is the previous 2017 ATH and acts as a psychologically significant support price level, which can potentially trigger a short-term relief rally. Technical and on-chain analysis by Shayan The Daily Chart Bitcoin has been forming lower lows and lower highs during the past few months, which can be witnessed by the following mid-term yellow descending… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt It was a great week for investors as nearly all of the top 100 cryptocurrencies by market capitalization grew in value, despite the lingering crypto winter exacerbated by insolvency issues at crypto lenders Vauld and Voyager.  Bitcoin has jumped more than 12% over the last seven days to trade at $21,565 as of this writing, according to CoinMarketCap. Meanwhile, Ethereum enjoyed an even bigger rally, adding more than 15% to… Source link

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bitcoin [BTC] was able to rise past the $20.7k resistance level but faced more selling pressure above the $22k mark. At press time, the king of crypto was trading at $21.5k. The move upward from the $19k area over the past week saw Litecoin [LTC] climb meekly from $48 to $52. However, despite the tough fight to reclaim the $50 area, an uptrend… Source link

Bitcoin bull and CEO of MicroStrategy Michael Saylor talked about Bitcoin, Ethereum, Cardano, and their asset classification in the United States. This topic has gained more importance over the last month as the Securities and Exchange Commission (SEC) Chairman Gary Gensler claimed only Bitcoin is a commodity. Related Reading | U.S. Bank Will Connect With Ethereum’s MakerDAO To Borrow $100 Million  Other cryptocurrencies, such as Ethereum and Cardano, are at… Source link

Ether (ETH) price is up 16% since July 1 and has outperformed Bitcoin (BTC) in the last 7 days. The move could be partially driven by investors clinging to their hopes that the Ethereum network transition to proof-of-stake (PoS) consensus will be a bullish catalyst. The next steps for this smart contract involve “the Merge,” which was previously known as Eth 2.0. The final trial on the Goerli test network is expected in July before the Ethereum mainnet gets the green light for its… Source link

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During the first week of July, bitcoin prices have risen to their highest level since mid-June, coming as U.S. Non-Farm Payrolls handsomely beat expectations. However, as we head into the remaining weeks of the month, questions still linger on if this momentum can be maintained, despite the current uncertainty in the market. Bitcoin’s Current Market Status Looking back at June, bitcoin (BTC) started the month trading around the $30,000 mark, however exactly four weeks ago today,… Source link