Bitcoin

Everyone is talking about a six-figure Bitcoin (BTC) price now that the digital asset has broken out of its multi-month downtrend and confirmed that a bullish trend is in play.  If Bitcoin happens to enter a parabolic move toward $110,000, that would finally match PlanB’s Stock-to-Flow model prediction. According to the pseudonymous analyst, the scarcity and valuation of gold and other precious metals and “Elon Musk’s energy FUD and China’s mining crackdown” are a few of the… Source link

Bitcoin returned above $56,000 on Wednesday after trading in a tight range over the past few days. The cryptocurrency’s price is up about 3% over the past 24 hours compared to a 1% rise in ether over the same period. The recovery in cryptocurrencies over the past week has decoupled from equity markets, with bitcoin squarely in the lead with a near 18% price rise for the month to date. Meanwhile, the S&P 500 is down about 4% from an all-time high in September, albeit with less or a roller… Source link

China was the biggest miner of Bitcoin until authorities there effectively banned the practice. Now, the US has claimed China’s Bitcoin mining crown. By William MathisBloomberg The U.S. has become the world’s epicenter for Bitcoin mining after a crackdown in China effectively eliminated the practice in the former cradle of the industry. At the end of August, America accounted for 35.4% of the global hash rate, a measure of computing power used to extract the digital currency, according to… Source link

The ‘man who broke the Bank of England’ finally likes Bitcoin — here are 3 easy ways to hop on Bitcoin is rallying again, and this time it’s in large part to billionaire financier George Soros’ endorsement. Dawn Fitzpatrick, CEO and chief executive officer of Soros Fund Management, told Bloomberg last week that Soros’ family office owns “some coins, but not a lot.” The news sent the price of Bitcoin up nearly 10% to around $55,000. Known as “the man who broke the Bank of England,”… Source link

Bitcoin (BTC) was back at $57,000 on Oct. 13 as a classic move left hopeful traders liquidated to the tune of $200 million. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees parallels to August price action Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $57,250 on Bitstamp, up almost $3,000 in under three hours. Reminiscent of multiple surges over the past week, Bitcoin thus gained 5.5% on the day, lining up a rematch of five-month… Source link

The US overtook China as the world’s biggest source of bitcoin mining two months after Beijing banned crypto mining this year, new data have revealed. China’s share of the global hashrate — the computational power required to create bitcoin — fell from 44 per cent to zero between May and July, showed figures published by the Cambridge Centre for Alternative Finance on Wednesday. The country accounted for three-quarters of the global hashrate in 2019. The US share of the global… Source link

Bitcoin (BTC) saw a widely anticipated pullback on Oct. 13 as bulls struggled with February’s old all-time highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysts unfazed by BTC’s price pullback Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing from five-month highs to briefly wick below $54,000 on Bitstamp. After recovering to around $55,000, the pair looked choppy on Wednesday with no clear direction apparent in the short term. For analysts,… Source link

Bitcoin had been underperforming against most altcoins ov the past two months, but that trend reversed when its 20% rally pushed its market capitalization to break the $1 trillion mark on Oct. 6. That shifted investors’ attention back to the leading cryptocurrency, and altcoins are currently in the red for the day. The current positive momentum could be dangerous if Bitcoin (BTC) traders become overconfident and abuse leverage to open long positions. To avoid this, traders need to carefully… Source link

Dimon once again attacked the top cryptocurrency, calling it “worthless” during a virtual summit Monday. “I personally think bitcoin is worthless, but I don’t want to be a spokesperson,” he said during a virtual appearance at the Institute of International Finance Meeting before adding, “I don’t care, it makes no difference to me. I don’t think people should smoke cigarettes.” But Dimon added that his own take on bitcoin has not stopped the bank from allowing its customers to buy and sell the… Source link

In early 2011, the then-obscure cryptocurrency Bitcoin (CRYPTO:BTC) reached $1 per coin for the first time. It was a milestone celebrated by the few crypto-enthusiasts around back then. The rest of the world was either oblivious or left scratching their heads about what Bitcoin even was. Everyone has heard of Bitcoin now. As of this writing, the price per coin is more than $57,000, representing a total market capitalization of almost $1.1 trillion,… Source link