In a recently published annual report on Bitcoin mining for 2019, TokenInsight spoke about mining-related financial products that are available today, and how they might change in 2020. According to the report, ‘diversified financial products will be launched in the future, paving the way of fierce competition in 2020.” TokenInsight also pointed out how the...Read More
TokenInsight recently published its annual research report regarding the cryptocurrency mining industry in 2019. The report spoke about how most developed countries today have relatively progressive attitudes towards mining Bitcoin and other cryptocurrencies, as well as what factors affect where mining farms are set up. According to the same, “Low electricity cost, well-structured legal framework,...Read More
The heightened tensions between the United States and Iran have contributed to the narrative of Bitcoin as a safe haven asset. However, according to Perianne Boring, Founder of the U.S Digital Chamber of Commerce, this is not the first time the digital asset’s price has spiked during global uncertainty. In a recent interview, Boring recalled...Read More
Bitcoin [BTC] has always been the topic of discussion when anyone talks about cryptocurrencies. It has gained a relevant position in the tech and financial sector, even though many are still skeptical about investing in Bitcoin. 2020 may turn out to be an important year for Bitcoin due to its third halving event, an event...Read More
Bitcoin’s recent rally, although small and aberrant, was reminiscent of April 2019’s rally aka the April fool’s rally. Hence, looking at Bitcoin’s on-chain metrics might provide an insight into what transpired before the price peaked. The recent rally caused Bitcoin to surge by a considerable amount [20% in 4 days] after a week into the...Read More
2020 is shaping up to be a solid year for bitcoin – and less so for altcoins – according to Bloomberg. | Image: shutterstock.com Bitcoin equals digital gold, according to Bloomberg report. Altcoins set to suffer in 2020. The futures market will aid mass adoption. Bitcoin is going to boom this year. That’s the verdict,...Read More
Bitcoin’s price responded positively to the new year, with the coin finally pushing the $8k mark on 8 January. However, since the price spike was unforeseen, the price underwent a correction and soon, the price was back under $8k. At press time, Bitcoin was trading at $7922, with a 24-hour trading volume of $15.3 billion....Read More
The conflict between the United States and Iran showcased bitcoin’s emerging safe-haven appeal. | Image: shutterstock.com Bitcoin’s use-case has evolved over time. Recently, the top cryptocurrency has been surging under the safe haven narrative. While both gold and bitcoin moved higher due to geopolitical risk, the cryptocurrency has significantly outperformed the precious metal. Bitcoin’s primary...Read More
Analysts claim bitcoin is poised to make a run toward $9,000 after putting an end to the pullback. | Source: Shutterstock.com The deescalation of the situation in Iran may have triggered a round of profit taking in bitcoin. Multiple analysts remain bullish on the top cryptocurrency predicting that it won’t go any lower than $7,800....Read More
The Reserve Bank of Australia (RBA) has now confirmed that it is mulling over the digital version of the Australian dollar, a digitized currency commercial banks and other corporates across the country can now use to speed up transactions. According to an official submission presented before a Senate inquiry into financial technology, the RBA asserted,...Read More
In the January edition of Bloomberg’s ‘Crypto Outlook’ report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, wrote about Bitcoin and its potential in 2020, both in terms of price and adoption. In the report, McGlone stated, “The fact that a store-of-value asset with fixed supply and increasing adoption is more likely to appreciate in...Read More
Bitcoin Core contributor and guest writer for BitMEX Research, Michael Ford, recently published a report about the build system improvements for Bitcoin, while also expanding on his involvement in removing third-party software dependencies such as OpenSSL. The report, analyzing results from tests conducted by Ford, showed that the number of packages built in Bitcoin Core...Read More
Over the past week, a major event has heightened the tensions between the United States and Iran. However, this event’s impact was felt not just on the political scene, but in the financial sector as well. Hours after the United States launched a military strike that killed a major Iranian military commander, oil and gold...Read More
Legendary trader Peter Brandt recently presented two scenarios for bitcoin: One bullish and one bearish. The bullish scenario seems to be playing out. | Image: shutterstock.com Peter Brandt laid out two scenarios for bitcoin last month. The recent price action of bitcoin suggests that Brandt’s immediate bull scenario is playing out. Brandt teases his followers...Read More
Over the past 3 days, Bitcoin has witnessed a surge of 12.3 percent, a development that took its price valuation above the $8000 mark. However, the first week of January was found to be more bullish for altcoins, than the king coin. According to Coinmetrics, major altcoins like Ethereum, XRP, and Litecoin registered negligible growth...Read More
In a recent article for Nasdaq, Sumit Gupta, CEO of CoinDCX, one of India’s largest cryptocurrency exchanges, wrote about how cryptocurrencies could hold the keys to financial inclusion. In the article, Gupta cited the World Bank’s most recent Global Findex report which stated that as many as 1.7 billion people worldwide do not have access to formal...Read More
Bitcoin’s price appreciation in the face of strained sovereign relations supports a risk-off asset thesis rather than a safe haven. Bitcoin on the Move amidst International Tensions The recent rally in Bitcoin’s price has largely been attributed to the rising tension between the United States and Iran. The latest jump aligns with President Donald Trump...Read More
Fresh tensions between the United States and Iran has contributed to bitcoin’s sharp acceleration over the past week. The same forces could send BTC to new all-time highs. | Image: shutterstock.com Bitcoin is possibly becoming a safe haven asset. The top cryptocurrency is rising in tandem with gold as tensions in the Middle East grow....Read More
Despite the fact that Bitcoin is in its second decade of existence, it is still seen more as an investment, rather than as a means of financial freedom. The claims of the cryptocurrency being a store of value or a medium of exchange still exist in theory, but in practice, Bitcoin remains a tradable asset....Read More
News keeps coming from the Middle East, as the US recently announced that the general of the Iranian Revolutionary Guard’s Quds Force, Qasem Soleimani, has been killed in an airstrike. In retaliation, Iran launched missiles at two US military bases in Iraq. Amid all this, the prices of oil, gold, and Bitcoin, surged. Is there...Read More
Bitcoin (BTC) is seeing more computational power invested in coin generation than ever before. As of Jan. 6, Bitcoin’s mining network has reached a hashrate of 120 exahashes per day. This number has been growing steadily over the past decade, but it has grown significantly in recent months. In the last year alone, the network...Read More
As tensions between the United States and Iran escalate, safe-haven assets are seeing massive gains. On the back of market uncertainty, Bitcoin broke the $8,000 barrier for the first time since 22 November, while gold continued to climb massive highs. For over a month, the Bitcoin market was stagnant owing to the holidays subduing volatility....Read More
2020 has been looked upon as a year that will contribute to many significant price movements in the dormant crypto-market, especially in light of the fact that the Bitcoin halving is just over four months away. However, according to the crypto-markets data provider, Skew markets, the halving might not be significant, even when it comes...Read More
After consistent consolidation under the $8000 mark since 22 November, Bitcoin briefly breached the mark on 7 January. While a significant portion of the community believed that the surge in question could be instrumental to the next bull surge, a major cryptocurrency market analyst observed a change in trends for a different digital asset. Willy...Read More
Is bitcoin eyeing a major breakout? Price action suggests another leg higher could be forming. | Image: shutterstock.com Bitcoin tops $8,100 for the first time in over a month. The rally may signal a trend reversal underway for the largest cryptocurrency. Bitcoin’s Fear & Greed Index shows market conditions are improving at the start of...Read More
When it comes to bitcoin, Peter Schiff’s tweets are aging very badly. | Image: AP Photo/Mark Lennihan Peter Schiff is once again targeting the number one cryptocurrency. His tweets are looking ridiculous as they are no longer based on sound logic. Some bitcoin traders are using Schiff’s tweets to time a possible bitcoin rally. Peter...Read More
Blockstream’s Marketing Director, Neil Woodfine, recently took to Twitter to address the question of “What happens when the Internet gets switched off?” Woodfine chose to respond to this question since “a surprising number of great engineers have been thinking about how to keep Bitcoin running in offline environments.” In his Twitter thread, Woodfine also outlined...Read More
Two of the largest corporations in Japan, SBI Holdings and GMO Internet Inc., have found their way into the bitcoin mining sector through a connection with Frankfurt-based company and owner of the world’s largest Bitcoin mine, Northern Bitcoin AG. According to Bloomberg, an agreement between the two Japanese firms and Whinstone Inc., a subsidiary of...Read More
The community remains at odds over whether the upcoming block reward halving for Bitcoin will have a meaningful impact, or if it’s already priced in. Defining Bitcoin’s Market Efficiency Bitcoin’s block reward halving has been at the center of fervent debates for the past 5 years but more emphasis has been placed on this topic...Read More
Last year was pretty dismal for the bitcoin and crypto industry in India. Regulatory procrastination and a negative outlook from politicians have stifled the ecosystem and innovation, will 2020 be any better? BITCOIN BATTLING IN INDIA The Reserve Bank of India (RBI) has been relentless with its disapproval towards bitcoin and the crypto industry over...Read More
