Tucked away on a quiet street in Berlin’s Kreuzberg district, Room 77 had the look of your typical dive bar – until you paid attention to the details. If you did, you’d notice the grungy scene was punctuated with cypherpunk paraphernalia. One brick wall overlooking a row of booths was populated by the portraits of Ross Ulrbicht, Edward Snowden and Julian Assange. Adjacent to these crypto-anarchy icons, a currency burner (which does exactly what you think it does) sat where an arcade game might have in any other bar. Above the register, at a bar with five or so seats, was […]
Bitcoins
53 posts
Making consensus Featured panel CoinDesk is preparing for the invest: ethereum economy virtual event on Oct. 14 with a special series of newsletters focused on Ethereum’s past, present and future. Every day until the event the team behind Blockchain Bites will dive into an aspect of Ethereum that excites or confuses us. The Top Shelf news you subscribed to is down below. Now, a few words from CoinDesk tech reporter Colin Harper. Stablecoin use on DeFi applications has exploded in 2020. Approximately $20 billion of crypto dollars are floating around, and a few billion of these have found their way into the ether by way of yield […]
Ethereum’s highly anticipated 2.0 upgrade is poised to bring the network ever closer to fulfilling its original vision to be a “world computer” that plays host to a parallel, decentralized financial system. At Invest: Ethereum Economy on Oct. 14, we will address the ramifications for investors as decentralized finance takes the crypto world by storm. In a run-up to the event, our two-part CoinDesk Live: Inside the Ethereum Economy virtual miniseries on Oct. 8 and 12 introduces trending narratives we will break down at the main event: Why all the hype behind yield farming and food-inspired tokens? Should investors take them […]
Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long term HODLers in the process. Bitcoin has been above $10,000 for longer than any time in its history. Its volatility is also at recent historic lows. In this episode, NLW puts this in the context of broader market movements and explains why new price floors are self-reinforcing. Source link
Bitcoin’s price woes this month likely put investors off from purchasing crypto ETPs, pushing volumes into a nosedive. Source link
The upcoming U.S. presidential election has become one of the most contentious in history, fraught with searing divisions over everything from the economy to race to the continued health of democracy itself. So it’s not surprising that Wall Street options traders are now pricing in expectations of elevated market volatility around the November election. Analysts for the investment banking giant Goldman Sachs noted earlier this month that price swings of nearly 3% are implied around election day in the Standard & Poor’s 500 Index of U.S. stocks. What’s surprising is that options trading on notoriously volatile bitcoin prices, which often trade in sync with stocks, […]
In seeking to explain Monday’s sell-off across traditional markets and cryptocurrencies, the digital-asset firm QCP Capital rattled off a list of seven major market events that occurred in Septembers past, from the 1929 stock-market crash to the Lehman Brothers bankruptcy in 2008. There might be some deep human connection with the fall equinox — when the days turn shorter than nights in the northern hemisphere and summer turns to fall, according to the firm. “The human nervous system typically undergoes major measurable perturbations” during this period, QCP wrote Monday in its daily market update. The outlook is cloudy but there’s a risk of a steep […]
It’s pretty much guaranteed at this point that higher inflation is coming. The Federal Reserve, which has already printed about $3 trillion of new money this year, is now explicitly devoted to reducing the dollar’s purchasing power in a bid to revive the economy. Higher inflation also typically happens when a country gets laden with debt and interest rates are cut to zero, as is now the case in the U.S. “We’re at a moment where you may see some inflation,” Federal Reserve Bank of St. Louis President James Bullard said last week. The trend could be good for bitcoin, which many crypto investors believe […]
While so-called “DeFi degens” are busy bidding up the price of food-themed tokens, on the other end of crypto’s DeFi spectrum two teams working on the most popular implementations of Bitcoin’s Lightning Network have been busy pushing out new features. This week, both Lightning Labs, which maintains the Lightning Network Daemon (LND) implementation of the Lightning Network, and Blockstream, which maintains the c-lightning implementation, updated their tech stacks. Read more: What Is Bitcoin’s Lightning Network? For Lightning Labs, the update comes to its Faraday suite with the addition of an automated accounting feature to make bookkeeping easier for node operators and Lightning […]
Uniswap issued a governance token, Kraken is the world’s first crypto bank and there are more “newbie” bitcoin investors than any time in the past two years. Top shelf Crypto’s bankKraken Financial, a newly formed division of the popular crypto exchange, has become the first firm to receive a special type of charter making it a bank. On Wednesday, the Wyoming Banking Board approved the exchange’s application for a special purpose depository institution (SPDI) charter – making it a licensed bank in the state, replete with access to federal payments infrastructure and opening the doors to issuing digital-asset debit cards and savings accounts […]
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
Tether disputes allegations of market manipulation brought in court, Vitalik Buterin issues a proposal for Ethereum’s high gas fees and Voatz weighed in on whether a longstanding federal law over computer access is overly broad. Top shelf Tether disputesTether and affiliate exchange group iFinex have called for a market manipulation lawsuit to be dismissed because plaintiffs, they say, cannot prove $3 billion worth of unbacked stablecoins actually entered the market. Five crypto traders are suing the companies for incurred monetary losses after buying cryptocurrencies at prices they claim were inflated by Tether’s manipulation of the market. Plaintiffs claim Tether issued billions of dollars […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. HOLIDAY NOTICE: First Mover will publish next on Tuesday, Sept. 8. Happy Labor Day to our U.S. readers. Price Point Bitcoin (BTC) was up in early trading to $10,500, rebounding after Thursday’s 11% tumble, the biggest single-day decline since March. The sell-off, which took prices as […]
Despite a slight bounce Friday morning, some analysts don’t expect bitcoin to chart a quick recovery from the double-digit price drop over the last two days. Source link
Pornhub will accept BTC and LTC payments, a nonprofit is calling upon Coinbase to be more transparent and credit default swaps are coming to the Ethereum blockchain. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Porn paymentsPornhub, the popular adult entertainment site, has added bitcoin (BTC) and litecoin (LTC) payment options for its Pornhub Premium product. The company is an example of legal, though untraditional, online businesses struggling with centralized payment processors: PayPal has blocked payments to the site without explanation, CoinDesk’s EU […]
New research from RSK/IOV’s Sergio Demian Lerner reveals that Patoshi, an early Bitcoin miner assumed by many to be Satoshi Nakamoto, mined using an algorithm that was not included in Bitcoin’s first client release. This finding finally explicates why Patoshi’s hashing patterns are so much different than other, early Bitcoin miners, but raises the question: Why did Patoshi give themselves a leg up? If we take for granted that Patoshi is, in fact, Satoshi, then it’s conceivable that Bitcoin’s creator used this advantage to prevent mining attacks on the nascent network. When he first presented his research on Satoshi’s alleged treasure […]
Price point Bitcoin was rising along with gold and U.S. stock futures early Friday as traders reacted to Federal Reserve Chair Jerome Powell’s plan to let inflation run hot in coming years as the economy heals from the coronavirus-induced recession. The largest cryptocurrency, seen by some investors as a hedge against inflation, changed hands around $11,451, staying in the range between $10,900 and $12,400, where it has been stuck since late July. In Asian markets, the Japanese yen jumped on haven buying after Prime Minister Shinzo Abe, who has pursued inflation-boosting policies, said he would resign due to an illness. You’re reading First Mover, CoinDesk’s daily […]
Bitcoin’s rally lost power after a speech by the Federal Reserve chief; Ethereum gas usage hits another record. Bitcoin (BTC) trading around $11,251 as of 20:00 UTC (4 p.m. ET). Slipping 1.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,130-$11,596 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since August 25. Source: TradingView Thursday featured a highly anticipated speech by Federal Reserve Chair Jerome Powell highlighting U.S. dollar inflation. During the hour Powell spoke, spot bitcoin hit as high as $11,596 on Coinbase. However, it lost steam and dropped $466 […]
Bitcoin’s options market foresees little price turbulence in the short-term, even as markets await a key speech from the chairman of the Federal Reserve. Source link
There are more addresses than ever as part of Bitcoin’s “rich list,” the Federal Reserve is looking to change tack on inflation and another firm is putting its cash reserves into bitcoin, not a bank account. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Rich listThe “Bitcoin Rich List,” or the number of wallets with at least 1,000 BTC (~$11.5 million), is at a record high. There are approximately 2,190 rich list addresses, surpassing the previous record of 2,184 […]
INX is gearing up for a landmark IPO, 1 billion tether jumped from Tron to Ethereum and a shift in bitcoin’s options market suggests bullish speculation is beginning to ease. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf INX IPOINX plans to launch its landmark initial public offering (IPO) as soon as Monday. The cryptocurrency and security token exchange signaled plans to go public in January 2018, aiming to become the first Securities and Exchange Commission-compliant security token […]
BlockFi has raised a Series A, B and C within a 12-month span, an ICO’s investors can’t find the people they’re trying to sue and stablecoin demand may become unbalanced by traders ditching a “market-neutral strategy.” You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Semper BlockFi?Crypto lender BlockFi closed a $50 million Series C led by Morgan Creek Digital and with participation from Peter Thiel’s Valar Ventures – the lead investor in BlockFi’s A and B rounds – Castle […]
Evan Shapiro is CEO and co-founder of O(1) Labs, the team behind Coda Protocol, a lightweight chain that affords all participants fully P2P, permissionless access from any device. A hint: It’s not you. And it’s a far cry from the decentralized utopia many claim it to be. Systems of power are rapidly asserting control over Bitcoin. And their incentives are not your incentives. As an industry, we’re at a critical juncture, and we have to choose. We either demand that the properties of user ownership and censorship resistance pioneered by Bitcoin persist. Or, we accept the facade of false-decentralization that has […]
All eyes are on bitcoin‘s bullish price at the moment. Behind the scenes, however, developers are tinkering to build the infrastructure that many hope could make the Bitcoin system more accessible to more people. Last week, Bitcoin tech startup Blockstream released its latest major version of c-lightning, its implementation of the Lightning Network. The release is dubbed “Rat Poison Squared on Steroids,” facetiously referencing Warren Buffet’s comment that Bitcoin is “rat poison squared” and, in his opinion, investors will get burned if they put their money into it. Of course, c-lightning’s developers probably don’t believe Bitcoin is “rat poison,” seeing as […]
Bitcoin’s price jumped to a fresh 11-month high on Friday, with the options market betting on a sustained bull move. The put-call open interest ratio looks to have risen from 0.50 to 0.63 this week due to greater selling in put options. With the combination of negative skews and a rising put-call open interest ratio, bitcoin’s latest move above $10,000 looks like it can be sustained. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital […]
Bitcoin’s price is at its 11-month high as volatility bounces back up. Meanwhile, ether’s dominance has spiked on continued growth in decentralized finance (DeFi). Bitcoin (BTC) trading around $10,998 as of 20:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours. Bitcoin’s 24-hour range: $10,573-$11,422 BTC above 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since July 26.Source: TradingView The price of bitcoin hit another 2020 high Tuesday, reaching $11,422 on spot exchanges like Coinbase. The last time the price of the world’s oldest cryptocurrency hit that level on Coinbase was Aug. […]
A crypto hedge fund is folding, Silvergate Bank’s bitcoin-collateralized loans surged this quarter and bitcoin futures markets record triple-digit growth. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Bitcoin ETPSwiss crypto manager FiCAS AG announced what could be the first actively managed bitcoin exchange-traded product (ETP). The firm’s Chairman Mattia Rattaggi said the Bitcoin Capital Active ETP’s portfolio could contain up to 15 altcoins as determined by market capitalization, liquidity and the rules of its host exchange, the SIX […]
New Delhi (Sputnik): Earlier this week, the verified accounts of several well-known people including Barack Obama, Kim Kardashian West and Elon Musk were hacked by crypto-criminals, who posted infected Bitcoin links to lure their victims into a scam. The crypto hack has now reached India via YouTube. Ajay Nagar, one of India’s most popular YouTubers, who also goes by the name of CarryMinati and has over 16 million subscribers, reported that one of his two channels on the Google-owned platform had been hacked, displaying suspicious Bitcoin links to the followers. CarryMinati is the first public figure in India who has been targeted […]
Bitcoin Core contributor Jeremy Rubin has revealed his work on a new smart-contract language for Bitcoin, which he hopes will increase the “financial self-sovereignty” of users. Rubin demoed the new language, Sapio, on Saturday at a RecklessVR meetup presentation in virtual reality, with many audience members joining the talk in VR headsets. He plans to release the programming language as a part of his new research organization, Judica. Stateful smart contracts allow users to lock up money so funds can’t be spent until certain conditions are met or a series of interactive steps have been taken. These contracts are most commonly […]
Savvy attackers might be able to “loot” bitcoin from others by way of the Lightning Network if users aren’t careful, a new cybersecurity report warns. The Hebrew University of Jerusalem computer scientists Jona Harris and Aviv Zohar have taken a closer look at a “systemic” Lightning Network attack that could lead to loss of funds. The attack, which they describe in their new paper, “Flood & Loot: A Systemic Attack on the Lightning Network,” preys on Bitcoin congestion. The problem with the Bitcoin blockchain is that it’s slow to settle payments and it only supports a few transactions per second. The […]
Ever since its inception, bitcoin has been dubbed “digital gold,” given it is durable, fungible, divisible and scarce like the precious metal. However, while gold has a strong track record of rallying in times of stress in the global equity markets, bitcoin is yet to build a similar reputation as a safe-haven asset. In fact, in recent months, the cryptocurrency has been increasingly correlated with the S&P 500, Wall Street’s equity index and benchmark for global stock markets. Now, data suggests that relationship is stronger than ever, likely denting its appeal as digital gold. The one-month bitcoin-S&P 500 realized correlation rose […]
Bitcoin’s mining difficulty just posted the smallest percentage change in 10 years. The bitcoin network adjusted its difficulty level at 01:18 UTC on July 1 to 15.7842 trillion – down a mere 0.0033% from the previous level of 15.7847 trillion set June 17. The percentage change is small enough that it is rounded up to a zero, data from BTC.com shows. Bitcoin mining difficulty measures how hard it is to compete for block rewards on the network. The measure is designed to adjust every 2,016 blocks, roughly every two weeks, based on the total computing power that’s participating in the mining […]
Balancer fell victim to a “flash loan” exploit, a mining conglomerate sees potential in blockchain and a shareholders association said EY should have caught Wirecard’s multi-billion-dollar blackhole earlier. Flash loans are one of many novel financial products made possible through decentralized technologies. But with innovation comes risk. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Flash loans & hacksA hacker exploited a smart contract loophole early Monday to drain $500,000-worth of tokens from DeFi liquidity provider Balancer Pool. CTO […]
New York officials have instituted a three-strike rule for crypto firms applying for the BitLicense, the Sovrin Foundation is now fun by volunteers and Aussies can now buy BTC at their post office. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Watchdogs SnarlNew York’s financial watchdog has warned crypto companies their BitLicense applications could be thrown out after “three strikes” of failing to address deficiencies highlighted by the regulator. Meanwhile, the European Union is preparing a new cryptocurrency […]
A popular narrative argues the massive stimulus programs from the Federal Reserve, launched to counter a coronavirus-induced recession, could hyperinflate the economy and fuel a major rally in bitcoin. However, that bullish theory, which suggests the cryptocurrency would be viewed as a hedge asset in dire economic times, has been dealt a blow by recent data from the U.S. central bank. The data suggests inflation is likely to remain absent for some time and, in fact, the probability of the U.S. economy slipping into deflation is rising. There’s now a 78.6% chance of deflationary pressure for the U.S – the highest […]
Bitcoin’s often criticized for its volatile and unpredictable nature – now analysts are saying that, and more, about the pound sterling. In a shock-inducing note to clients on Tuesday, currency analysts at Bank of America (BoA) said sterling had devolved into an emerging market currency in all but name during the four years since the U.K. voted to leave the European Union. Sterling’s movements in the past four years has been “neurotic at best, unfathomable at worst,” said lead analyst Kamal Sharma, a notable GBP bear, in a report by the Financial Times. Sterling’s spreads and implied volatility – the future […]
The number of bitcoin whales is at its highest level since 2017, as the network adjusts its difficulty setting for the first time post-halving. Elsewhere, Canada is hiring a CBDC expert, Thailand is using a blockchain to issue bonds and Kraken is expanding into Australia. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Post-Halving JumpsOn Tuesday, Bitcoin posted its biggest mining difficulty increase in nearly 2.5 years. Its 14.95% rise comes after two consecutive declines in […]
Ethereum was created to carry out complex applications Bitcoin supposedly couldn’t handle. A new app brings the idea full circle. Pseudonymous developer Fiatjaf has created Etleneum, which he describes as a “centralized” version of Ethereum that runs on payments from Bitcoin’s Lightning Network. Hence the name, a portmanteau of “Ethereum” and “Lightning.” (If that’s too subtle, the Etleneum logo is a diamond shape like Ethereum’s with a lightning bolt running through it.) Like Ethereum, Etleneum has “contracts,” automated agreements over what rules need to be met before money can be dispensed. The contracts are public like Ethereum’s, and like the world’s […]
The tensions that have spilled over into the streets of U.S. cities this week are a heartbreaking expression of a long-standing problem that has the whole world in its grip. Inequality is not specific to the U.S. Nor is it limited to a handful of relatively well-off geographies. It stratifies societies within borders, trapping the majority within a narrow income band while markets pour wealth into the accounts of the few. It also divides the haves from the have-nots on a spectacularly global scale, relegating some countries to the back of the hand-out queue while others, blessed by nature and exploited […]
Bitcoin underwent a protocol update to make the network more resilient to state attacks, while researchers separately found Ethereum may be losing its anonymity. Elsewhere, “Crypto Mom” Hester Pierce has been tapped for a second term at the SEC, and an ex-Yang advisor is making crypto a cornerstone to his House campaign. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf EthereumThe most popular way to use bitcoin off-chain is on Ethereum, data suggests. Ethereum projects including WBTC and […]
The most popular way to use bitcoin off-chain is on Ethereum, recent data indicates. Since 2016, software engineers have worked to extend the oldest and largest cryptocurrency’s use cases through a variety of companion protocols, like the Lightning Network for payments or the Liquid Network for trading. But to date, the most popular off-chain protocols that use bitcoin (the currency, with a small “b”) run on the largest rival to Bitcoin (the network, uppercase). In fact, Ethereum projects including WBTC and imBTC hold 70% more bitcoins than Lightning or Liquid. This is “ironic” to Camila Russo, author of “The Infinite Machine“, […]
London-listed Argo reported a dip in May revenue, possibly as a result of the bitcoin halving event. Per the mining firm’s monthly operational update, monthly mining margins – revenue minus operating costs – was roughly 34% in May, down from 39% in April. Overall, the company mined 252 bitcoin (~$2.4 million at press time), down from 319 bitcoin (~$3 million) the month before. This slight dip in revenue comes straight after the bitcoin halving – which took block rewards down from 12.5 to 6.25 BTC last month. Argo says it was able to mitigate potential disruptions from the halving by investing in […]
Bitcoin’s network difficulty adjusted downwards today, making older mining machines profitable once again, while Tokensoft distributed $4 million in tokenized equity to investors and technology firms are calling upon the Department of Defense to invest in the blockchain arms race. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top Shelf Getting EasierThe Bitcoin network just fine-tuned a key parameter to coax back miners who quit after last week’s halving hammered their profits. Bitcoin’s mining difficulty, which measures […]
CoinDesk columnist Nic Carter is partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge, Mass. He is also the cofounder of Coin Metrics, a blockchain analytics startup. Much ink has been spilled on the question of Bitcoin’s energy footprint. But amid the clarifying details and the energy mix calculations we have lost sight of the most important questions. Anyone who wades into this muddy debate must consider the fundamentals before making a final assessment. Energy: a local phenomenon Let’s start with the basics. Many people, when decrying Bitcoin’s energy footprint, point out its energy consumption and presume that someone, somewhere […]
A widely tracked bitcoin price indicator is about to turn bullish – potentially accelerating the recent uptrend of the top cryptocurrency by market value. The 50-day moving average (MA) of bitcoin’s price looks set to cross above the 200-day MA within two to three days. The resulting “golden crossover,” a long-term bull market indicator, would be the first since Feb. 18 and only the seventh in bitcoin’s lifetime, as per CoinDesk’s Bitcoin Price Index. Daily chart (2020) “The golden crossover will catch the attention of classical trend followers,” said Su Zhu, CEO of Three Arrows Capital. Trend-following traders do not predict […]
Bitcoin’s rally last week as the Standard & Poor’s 500 Index of U.S. stocks floundered served to underscore just how different the conversations are right now in digital asset markets and traditional finance. As high-profile investors including Stanley Druckenmiller and David Tepper were warning of looming bankruptcies, overvalued stocks and the increasingly distant chances of a rapid economic recovery, bitcoiners celebrated the cryptocurrency’s third halving and held spirited discussions on the future of money during a virtual New York Blockchain Week. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, […]
Bitcoin is rallying again, and some analysts are looking at a potential driver of even higher prices: new data showing that mining pools are hanging onto the cryptocurrency rather than sending it to exchanges for a quick sale. But as with a lot of bitcoin analysis, the interpretation isn’t always clear-cut; the data might be seen differently as a sign of a weak market. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing […]
Bitcoin has seen steady gains in price since the halving took place on May 11. The number of institutional investors trading in the CME crypto options market is a sign of continued interest in this asset class. At press time, bitcoin’s price has risen 12% since the reward for bitcoin miners was cut in half. Over the past 24 hours, bitcoin (BTC) was trading up 6% at $9,689. The world’s first cryptocurrency is chugging higher, with technical indicators including the 10-day and 50-day moving averages above bullish levels since May 13. Bitcoin trading on Coinbase since May 12Source: TradingView Mark Warner, […]
While bitcoin is fast reversing its pre-halving price drop, some miners still look to be leaving the network. At time of writing, the top cryptocurrency by market value is changing hands at $9,730, representing a 20% gain on the low of $8,100 observed Sunday – the day before Bitcoin underwent its third mining reward halving. The bounce has erased more than 75% of the drop from $10,500 to $8,100 seen in the three days to May 10. While the price has recovered a major portion of the lost ground, the cryptocurrency’s hash rate (the total computing power dedicated to mining blocks […]
Bitcoin’s price is starting to make gains after what turned out to be a rather dull halving event. With daily active bitcoin addresses at the highest level since 2018, interest in bitcoin could be heading even higher. The world’s first cryptocurrency is now trading above its 10-day and 50-day moving averages, a bullish technical indicator. This reversal comes after a huge 10% drop in price on May 10 that led to bearish sentiment ahead of the bitcoin halving, which occurred May 11 at 19:23 UTC (3:23 p.m. ET). At press time, bitcoin (BTC) was trading up 1% over 24 hours at […]
With fewer than four days left till bitcoin’s halving, popular interest in the once-every-four-years event is reaching a fever pitch. Google Trends, a barometer for gauging interest in trending search topics, shows searches for “halving” or “bitcoin halving” at five times the peak in 2016, when the blockchain underwent its previous halving event. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe […]
Bixin, one of the earliest bitcoin miner operators and wallet startups, is dedicating 6600 bitcoin, worth $66 million, to a new fund of funds. The company announced the fund of funds with its proprietary capital on Friday and said it aims to invest in global quantitative trading funds whose strategies are based on arbitrage, bitcoin futures contracts and trend analysis. By providing additional liquidity and market making activities to these trading desks amid bitcoin’s scheduled halving event, Bixin seeks to increase its holdings in bitcoin as part of its “unwavering commitment to bitcoin,” the firm said in the announcement. “We are […]