Bitcoin mining consumes a large amount of energy, and in return for the upfront electricity costs, miners are rewarded with a set amount of BTC for validating each block added to Bitcoin’s blockchain. As the crypto asset’s network grows in size and scale, the more electricity required to power the operation. Bitcoin as a network…
Bitcoin didn’t start the week off hot. On Monday and Tuesday, the leading cryptocurrency tanked, falling by 10 percent in 48 hours’ time. Altcoins followed suit, with Ethereum’s price performance actually going into the red on the year, accentuating the severity of this strong sell-off.Though, it seems that bulls aren’t going gentle into this good night. Wednesday,…
Bitcoin has begun showing some signs of topping out as the crypto inches lower from its previous consolidation region around $8,800. BTC’s move towards $8,600 has led some analysts to believe that its recent highs of $8,900 will mark a mid-term top.One valuable indicator that often offers significant insight into future trends is now suggesting…
Bitcoin and the aggregated crypto markets have incurred immense volatility over the past several days and weeks, which has come about as Bitcoin’s bulls and bears have engaged in an intense battle that has, over the past 24-hours, favored BTC’s bears.Yesterday evening the crypto rallied to highs of $9,200 before meeting significant resistance that sparked…
A relatively new economic stimulus intended to promote growth is fast becoming the norm around the world. The proliferation of negative interest rates at central banks in Europe and Japan makes an increasingly strong case for Bitcoin.Negative interest rates are supposed to provide incentives to invest and by extension to encourage economic growth. However, the…
In the wake of the crash to $3,700, investors thought Bitcoin was on a certain path to fresh macro lows under $3,100. But, this has quickly changed as the cryptocurrency has embarked on a stunning recovery, reaching $7,500 last week on the back of hype regarding the May 2020 block reward halving.Unfortunately, the 100% move…
The transaction fees on the Bitcoin network have increased by more than 1,300% since the beginning of the year, with the halving pushing the amount necessary to perform a transaction all the way up to $5.1 on May 11. However, despite the huge increase in fees, many pointed out that Bitcoin is still a lot…
Bitcoin breaks below $9,500, a crucial support level, a day after breaching it to the upside.The cryptocurrency pared its intraday gains ahead of Donald Trump’s retaliating press conference on China’s national security law for Hong Kong.Its downside move laggingly tailed a similar price action in the S&P 500. The U.S. benchmark closed Thursday down 0.2…
Bitcoin is slowly moving higher and trading above the $9,100 level against the US Dollar. BTC could start a strong upward move if it clears the $9,300 and $9,340 resistance levels.Bitcoin is showing a few positive signs above the $9,000 and $9,100 levels.The price is trading above the 100 hourly simple moving average, but it…
The Chinese stock market has found itself caught within the throes of a fresh bull market, and it could create a tailwind that lifts Bitcoin.After facing the dire implications of the ongoing pandemic that originated within China’s borders, the country’s investors appear to be moving on, now helping to fuel a fresh bull market.The country’s…