Bitcoin

The total value of the dogecoins in circulation is nearly $50 billion — not bad for a digital currency that started as a joke. It is the No. 5 most-valuable cryptocurrency on the market, according to CoinMarketCap, having increased more than 6,000% this year. The price of a dogecoin doubled again Friday after Tesla (TSLA) CEO Elon Musk tweeted about it for the umpteenth time (more on that in a bit). Demand for Dogecoin spiked so much this week, it briefly broke Robinhood’s cryptocurrency… Source link

In today’s on-chain analysis, we are trying to answer the question of whether there are reasons to fear the ending of the ongoing Bitcoin bull run. We are looking at the activity of long-term hodlers who stopped selling their coins again in the last week. Futures contracts recently recorded an all-time high, but their relation to the spot positions points to a healthy reset. By contrast, the long-term HODL Waves and Dormancy Flow indicators – which have historically provided accurate peak… Source link

The Ljósafoss hydroelectric power plant in Iceland. The Nordic region is losing its edge in green Bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Elon Musk to mom-and-pop investors pile in. Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins are mined, relies mainly on coal. That Nordic… Source link

Bitcoin trading on Coinbase.Source: TradingView Bitcoin (BTC) trading around $61,822.06 as of 20:00 UTC (4 p.m. ET). Slipping 2.62% over the previous 24 hours. Bitcoin’s 24-hour range: $60,033.53-$63,850.25 (CoinDesk 20) BTC trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians. Bitcoin’s slowly recovering from the news of Turkey’s coming cryptocurrency payment ban, which caused the No. 1 cryptocurrency by market capitalization to… Source link

A physical imitation of a Bitcoin at a cryptocurrency “Bitcoin Change” shop, near Grand Bazaar, in Istanbul, Turkey on Sep. 24, 2020. AFP via Getty Images Bitcoin fell early on… Source link

Demand for cryptocurrencies in the country has been driven up recently by inflation pressures and a weaker Turkish Lira. The country’s annual inflation rose above 16% in March. Photo: Chesnot/Getty Images The price of bitcoin (BTC-USD) descended from record highs on Friday following a decision by Turkey’s central bank to ban cryptocurrencies for payments.  The Central Bank of the Republic of Turkey (CBRT) said the use of cryptocurrencies and other crypto assets based on distributed ledger… Source link

Bitcoins may be selling like hot cakes, but global investors are wary of a bubble brewing there. The latest global fund managers’ survey by BofA Securities showed that 74% of fund managers think bitcoin is just a bubble. The increased adoption of cryptocurrencies by institutional investors has translated into a massive rally in this asset class. In the past one year, the price of bitcoin has risen by many folds from around $10,000… Source link

Bitcoin sits still near $62,500 and well within Wednesday’s price range amid concerns of a broader market pullback in the wake of Coinbase listing on Nasdaq. “I’ve seen a lot of weird coins like dogecoin and even XRP have huge retail spikes, which means there’s a lot of frenzy right now,” bitcoin bull and CEO of Galaxy Digital Mike Novogratz told MarketWatch. “That never ends well, and so we’ll probably have a washout at one point.” The U.S.-based cryptocurrency exchange… Source link

Getty Images getty The most popular way to describe bitcoin is “digital gold.” Bitcoin may serve other purposes for other users, but it’s this simple, compelling catchphrase that’s been the most widely accepted use-case offered up by crypto advocates who are out spreading the word. Everyone knows gold. Now, everyone knows bitcoin. But there’s a problem: it has no basis in reality, at least so far. We can see this by looking at how bitcoin’s relationship with real… Source link

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