Nothing drives up demand for Bitcoin more than economic and political uncertainty. Well maybe a large dose of China initiated FOMO, but fundamentally BTC acts as a solid hedge against failing fiat and economic policy. This year has not been one to remember for a number of nations, and that has clearly been reflected in…
A group of “very powerful nations” is increasingly making moves to reduce their dependence on the US dollar according to a global security analyst. Traditionally a planetary store of value, will Bitcoin benefit from such a global exodus from the dollar? Anne Korin of the Institute for the Analysis of Global Security identifies strong motives…
One of the reasons Bitcoin was envisaged was to provide freedom from the banking system, which is clearly in trouble. Banks literally hold their customers to ransom when services are pulled. This is exactly what is happening now in China as citizens rush to withdraw their savings. China Bank Run Day Three Banks are becoming…
Bitcoin has reached $1bn (£770m) in cumulative transaction fees, passing the major milestone on the eleventh anniversary of the world’s first cryptocurrency. Data gathered by analytics firm Coin Metrics revealed that over 200,000 bitcoin have now been paid in transaction fees since it launched in 2009 – three months after its creator Satoshi Nakamotoa, a pseudonym, published the…
A study by Bitcoin mining firm Genesis Mining has shown that a startling number of US citizens have no idea about how their financial system works. A whopping 29 percent of respondents said they thought the US dollar is still backed entirely by gold. The study’s findings highlight just how little is really known by…
Bitcoin markets are on fire once again, following a massive price spike last weekend on the heels of news Chinese President Xi Jinping spoke out in support of the blockchain technology Bitcoin is built on. The rally, which set a record for the third-largest 24-hour gain in the asset’s 11-year history, is now in jeopardy…
The “Prophecy of Asuka” has earned meme-status across the cryptocurrency community, with many calling it a farce, while others put a lot of weight in its validity. After Bitcoin’s recent bearish trend, the crypto community had all but given up on the “prophecy.” But last weekend’s massive green candle and historic price surge in Bitcoin,…
Halloween is not just a festival for warding off spirits. Anyone with an interest in crypto assets and blockchain technology will also know that October 31 marks the day that the visionary Satoshi Nakamoto released the Bitcoin whitepaper. BTC has come a long way over the past 11 years. Down With The Banks On October…
Bitcoin price is holding the key $9,000 support area against the US Dollar. The price is facing a couple of short term resistances near the $9,200 and $9,400 levels. This week’s followed major bearish trend line is active with resistance near $9,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
Bitcoin has managed to hold on above $9,000 for another day but it is slowly weakening and likely to drop below that support level by the weekend. The altcoins meanwhile are already sliding further and may well dump all recent gains. Bitcoin Support Weakening The pattern is pretty clear when looking at the Tradingview charts.…