Bitcoin’s recent mining rewards halving event didn’t have any sudden impacts on the cryptocurrency’s hash rate, but the impacts of it on miner dynamics are now growing increasingly clear.The benchmark cryptocurrency’s hash rate has been sliding lower throughout the past couple of weeks, signaling that miners are beginning to capitulate.History suggests that hash rate can…
Bitcoin started a strong downside correction from the $9,945 high against the US Dollar. BTC tested the $8,800 support area and it is currently correcting higher.Bitcoin is trading above the key $8,800 and $9,000 support levels.The price is facing a couple of key hurdles near the $9,400 and $9,500 levels.There is a major declining channel…
Last year, one of the biggest narratives in the Bitcoin market was that tensions between China and the U.S. — which culminated in a massive trade war — was pushing cryptocurrencies higher.Whenever President Donald Trump tweeted about U.S. relations with China, BTC responded, both rising and falling with the geopolitical trends. Once, when Trump announced…
After plunging as low as $8,800 on Thursday, Bitcoin has mounted a slight recovery to $9,300, bouncing back from this week’s shell-shock rumor that Satoshi Nakamoto is liquidating his coins.While it’s too soon to tell whether or not BTC is in a full-blown bull market, a prominent trader says that Bitcoin capturing a specific technical…
Ten years ago yesterday, programmer Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas in a trade that took place publicly on the Bitcoin Talk forum. Bitcoin Pizza ad from 2010 | Source: BitcoinTalk.orgAt the time, the transaction was largely laughed at — who would want some worthless internet coins for two steaming hot pies…
This weekend and on Monday, trading desks across the stock market and other traditional markets will be shut down. But Bitcoin and the rest of the crypto market never stops.With the stock market closed, less to do, and traditional celebrations next to impossible due to lockdown conditions, it could keep more traders at home, driving…
Another week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week.After rallying towards $10,000 at the start of the week on the back of post-halving buying, seemingly caused by both retail and institutional players, Bitcoin plunged to $8,800 over the course of two days. Altcoins posted similar losses, with some underperforming the market…
Bitcoin saw a 6% negative mining difficulty adjustment this week, which ensures that the cryptocurrency will continue mining blocks every ten minutes.This indicates that the cryptocurrency is rapidly seeing a reduction in the number of miners vying to validate transactions, suggesting that the implications of the recent mining rewards halving event are starting to take…
Bitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline.It now appears that the crypto could be gearing up for a massive movement in the days and week ahead,…
One key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action.BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action.Because the network is still being heavily utilized by investors, it shows…