Based on the fractal, Bitcoin is in an early phase of a prolonged rally that could allow BTC to experience exponential growth in the longer term. Bitcoin versus gold price fractal. Source: Bloomberg Bitcoin may be on the same trajectory as gold There are two main reasons why Bitcoin could follow the macro trend gold saw from the 1970s. First, BTC has a fixed supply that cannot expand, which makes it an attractive hedge against inflation. Second, BTC has the same qualities of a safe-haven asset… Source link

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice The cryptocurrency market has been witnessing a wave-like movement. After the rally was stopped in the Bitcoin market, the altcoins also witnessed downtrends. Litecoin has also been witnessing continuous buying and selling  among traders, giving a chance to reap marginal profits At press time, Litecoin was being traded at $72.16, while its market cap remained at… Source link

The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback. There are three main reasons why traders expect a deeper drop to occur in the near future, namely,  historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source: TradingView.com Historical cycles hint at… Source link

A proposal by an Ethereum developer wants to change the Eth1 blockchain validation process and embed it to the Beacon Chain. The modifications could present complications for the DeFi sector. After the threshold of 524,288 required ETHs has been reached, the deployment of Ethereum 2.0 with phase 0 will begin on December 1. However, there are still about two years left to complete the full deployment of all phases of Eth 2. The ease the process, Mikhail Kalinin has made a proposal on how the… Source link

The price of Bitcoin (BTC) dropped sharply on Nov. 26 following a mass sell-off from whales. Data from on-chain data firms, namely Santiment, Intotheblock, and CryptoQuant, show heightened levels of whale exchange inflows. Whales selling right under Bitcoin’s all-time high, particularly when the market sentiment was overly euphoric, led to a massive drop. Roughly $1.8 billion worth of futures contracts were wiped out, as Cointelegraph reported. Some exchanges, like Binance as an example,… Source link

A fresh record high for bitcoin is going to have to wait, if it comes at all. Bitcoin prices BTCUSD, -0.83% BTCUSD, -0.83% on Friday were being pummeled, pushing the cryptocurrency into correction territory, commonly defined as a decline in an asset from a recent peak of at least 10%. At last check, Bitcoins changed hands on CoinDesk, down 2.4%, at $16,714, representing a more than 14% decline from its 52-week peak… Source link

This entire article is Saifedean’s fault.  Saifedean Ammous, author of “The Bitcoin Standard,” kept heaping steak tartare onto my plate at a Bitcoin meetup back in August 2018, in between jokes about liberal plebs.   As the youngest woman in the room, per usual, I wanted acceptance from the Bitcoin clan. Despite nearly a decade of (fickle) vegetarianism, I accepted the author’s meat offerings in exchange for an off-the-record interview. I torpedoed questions his way between bites…. Source link

A chain of block erupters used for Bitcoin mining is pictured at the Plug and Play Tech Center in Sunnyvale, California, October 28, 2013. REUTERS/Stephen Lam Bitcoin slumped further through the Thanksgiving holiday as intense profit-taking dragged on prices. The world’s most popular cryptocurrency tumbled as much as 5.9%, to $16,242.70, over the last 24 hours. The slump is bitcoin’s biggest since the coronavirus pandemic slammed markets in March and reverses the weeks-long rally… Source link

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing like 2017.  In an article on Nov. 27, the publication known for its pessimism highlighted a range of Bitcoin metrics pointing to a bullish future — despite Thursday’s $3,000 price rout. Bloomberg: Bitcoin market “far more liquid” Included as evidence were record-high Bitcoin futures open interest, non-zero wallet numbers, hash rate and… Source link

REUTERS/Fred Prouser Nouriel Roubini, known as “Dr. Doom” for his bearish views, slammed Bitcoin for being heavily manipulated and blamed retail investor FOMO for this week’s boom and bust on Twitter on Thursday. Roubini tweeted the digital token has no role to play in the portfolios of retail or institutional investors because it has zero intrinsic value. “Retail suckers with massive FOMO have been jumping again into BTC as they did in late 2017 when price went from 10K to 19K… Source link