While shunning Bitcoin (BTC), central banks have embarked on somewhat of a gold buying spree. Russia’s monetary authority, for instance, now owns over $100 billion worth of the precious metal, which amounts to over 2,000 tons, after purchasing 20 tons just weeks ago. Related Reading: California City Confirms It Was Hit by Bitcoin Ransomware Attack…
Litecoin’s halving is just three days away – an event hard-coded into the Litecoin protocol, aimed at reducing the block reward miners receive, which therefore reduces the supply of LTC and can have the effect of throwing off the delicate balance with demand. This typically results in a pre-halving “pump” which did appear to be…
Bitcoin price traded higher and broke the key $10,200 resistance area against the US Dollar. The price is placed nicely above the $10,200 level and it recently tested the $10,500 area. There is a major bullish trend line forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).…
Popular on-chain metrics analyst Willy Woo claims to have developed a Bitcoin price indicator that shows good opportunities to invest in the digital asset. He calls his discovery the “Bitcoin Difficulty Ribbon”. The indicator looks at how mining impacts Bitcoin’s price. The analyst believes that miner capitulation in the wake of increasing difficulty reduces selling pressure…
As Bitcoin price struggles to maintain strength above $10,000 but is unable to push below $9,200, the crypto asset’s price chart has formed what appears to be a descending triangle – a bearish continuation pattern, that does have potential to break to the upside. The formation shows many similarities to a descending triangle that formed during…
Investors in the cryptocurrency market consider bitcoin as a benchmark. The world’s leading decentralized asset by market capitalization visibly determines the state of the overall crypto economy. Its price movement prompts other 1,599 active assets – called alternative cryptocurrencies (or altcoins) – to pursue in the same or an extremely opposite direction, showing extreme dependability.…
The Bitcoin network is growing from strength to strength. One measure of this is hash rate which is the equivalent of network horsepower, and this metric has just reached another milestone. Bitcoin Network Keeps Cranking Hash rate in simple terms is the speed at which computers on the network operate. For miners, the higher the…
The Federal Reserve cut interest rates for the first time in almost a decade as it attempted to protect the thriving US economy from increasing global risks. The stock market, in an immediate response, closed lower on the day, with the Dow Jones Index, the S&P 500 Index, and Nasdaq Composite Index each returning intraday…
Despite the fact that Bitcoin is 50% down from its all-time high of $20,000, the project has continued to set milestones. As noted by countless cryptocurrency Twitter users on Wednesday, the number of Bitcoin that has been mined has officially surmounted 17,850,000. This means that 85% of BTC’s 21 million supply cap has been spent.…
Following days of consolidation, crypto markets are on the up today as Bitcoin taps five figures once again. The altcoins are largely immobile, that is except Litecoin which appears to be on the move before its halving early next week. Crypto Market Capitalization Increases The moves by these two digital assets resulted in an $8…