Tag: bitcoin (btc) news

Jul 25 2021

Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish

Bitcoin seems to have recaptured the 50-day moving average as support Bitcoin is now firmly above the $34k price area, trading at the $34,720 at the time of writing Bitcoin's weekly close tonight will provide more information as to whether its bullish trajectory can be sustained Twitter sentiment surrounding Bitcoin has returned to bullish territory and could have entered a slight FOMO phase...

Jul 24 2021

Bitcoin Supply On Crypto Exchanges Begins to Drop as BTC Reclaims $33k

Bitcoin supply on crypto exchanges has once again started to drop, almost equaling January lows Bitcoin outflows from exchanges have exceeded inflows by 2,333 BTC in the last 7 days Elon Musk and 'The ₿ Word' Bitcoin conference is one reason BTC is bullish once again Jack Dorsey stating that Bitcoin will be a big part of Twitter's future, is another fundamental reason...

Jul 22 2021

Tesla Will Most Likely Resume Accepting Bitcoin (BTC) – Elon Musk

Elon Musk has stated that Tesla will most likely resume accepting Bitcoin for car payments He pointed out that Bitcoin mining had shifted more towards renewables as China clamped down on coal-powered BTC mining within its borders Mr. Musk made the comments during 'The ₿ Word' virtual conference that was attended by Cathie Wood, Jack Dorsey, Elon Musk and moderated by Steve Lee...

Jul 20 2021

Bitcoin’s Address Growth Plateaus as BTC loses $30k Support

The growth of Bitcoin addresses has hit a plateau phase Bitcoin's daily active addresses have also dropped from April's peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door...

Jul 18 2021

Bitcoin Could Bottom at around $14k to $15k – BTC Analyst

Bitcoin could bottom at around $14k to $15k Bitcoin also has a probability of bottoming at the 50-week moving average The 50-week MA is providing support at current levels around $31k Whichever scenario plays out, beginning to accumulate Bitcoin is not a bad idea $31k is the Bitcoin level to watch during the weekly close Bitcoin could bottom out at around $14k to...

Jul 16 2021

Bitcoin’s Hash Rate Originating From China Falls Below 50%

Bitcoin miners based in China now control less than 50% of the total BTC hash rate Hash rate originating within China is dropping as the government continues to crack down on Bitcoin mining The United States is the biggest beneficiary of the migration of mining away from China Bitcoin's hash rate has also started to rebound after the massive dip due to China...

Jul 15 2021

BTC Analyst: Bitcoin is Decentralized Gold, it Removes Gold’s Failures

Willy Woo is of the opinion that Bitcoin is decentralized gold He also adds that over time, the gold standard has failed with the subsequent introduction of fiat Traditional gold is also centralized hence Bitcoin removes the failures of Gold Bitcoin's $30k continues to be the level to watch moving forward Bitcoin's $20k is the next level of macro support if $30k fails...

Jul 14 2021

Bitcoin Addresses Growth and Metrics ‘Look Terrible’ – BTC Analyst

Bitcoin's daily active addresses have halved since BTC's most recent all-time high of $64,854 Bitcoin whales who sold at the top in mid-April are yet to start accumulating BTC New address growth on the Bitcoin network has dropped to levels last seen in early 2018 All these metrics negate what some traders and analysts have been posting about Bitcoin having bullish on-chain metrics...

Jul 13 2021

Grayscale Selects BNY Mellon To Service its Bitcoin Trust & Future ETF

Grayscale Investments has entered an agreement with The Bank of New York Mellon Corporation, also known as BNY Mellon Effective Oct. 1st, BNY Mellon will become an asset servicing provider for the Grayscale Bitcoin Trust BNY Mellon will also provide transfer agency and ETF services for the Grayscale Bitcoin Trust once it gets converted into an ETF in the future As of March...

Bitcoin (BTC) Dips to $32.2k as US Consumer Index Increases By 5.4%

The US Consumer Index has risen by 5.4% in June from a year ago This increment is the highest annual rate increment since August 2008 The US consumer is paying more for goods and services as inflation bites News of the increased Consumer Index has caused Bitcoin to once again lose its $33k support to post a local low of $32.2k The US...

Jul 11 2021

Bitcoin (BTC) Sentiment Remains Negative, Nears 3-year Lows

Crowd sentiment towards Bitcoin continues to dip to negative territory Bitcoin sentiment is at negative levels last witnessed in October 2020 At current rates, it could keep falling to negative levels last seen in June 2018 The Crypto fear and greed index is at 20, its lowest since April 2020 Bitcoin's price action remains uneventful with $33k being the level to watch during...

Jul 10 2021

7.3% Of Bitcoin’s Circulating Supply is Held on Crypto Exchanges

7.3% of Bitcoin's circulating supply is held on crypto exchanges This amount translates to roughly 1,533,235 Bitcoin Coinbase and Binance lead the rest in Bitcoin holdings Bitcoin exchange outflows have once again resumed despite the bearish environment Bitcoin outflows point towards renewed accumulation and a possible floor at current levels However, Bitcoin is still in bear territory trading below the 50-day, 100-day and...

Jul 09 2021

Twitter CEO: Square is Building a Bitcoin (BTC) Hardware Wallet

Jack Dorsey has confirmed that Square is working on developing a hardware wallet for Bitcoin The team at Square is requesting community participation in the project Square is also hiring for key roles in hardware, software, security and business Jack Dorsey has proposed an 'assisted self-custody' solution centered around the internet on mobile Square also has plans for the Bitcoin hardware wallet to...

Jul 07 2021

Bitcoin is Becoming a Decentralized Reserve and Store of Value Asset

Bitcoin is on track to becoming a decentralized reserve and store of value asset Bitcoin might become a good companion for portfolios which also have low-yielding bonds The world is leaning towards a digital future and Bitcoin is at the forefront China banning BTC mining makes the Bitcoin network more decentralized and strengthening the network The team at Bloomberg has released the July...

Jul 04 2021

Bitcoin Whales Accumulate 60k BTC in Highest Daily Spike of 2021

Bitcoin whales holding 100 to 10k BTC have accumulated 60k coins in a single day The event happened yesterday, July 3rd, and coincided with the largest downward Bitcoin mining difficulty adjustment in history of 28% The accumulation might have been due to the prospects of the Bitcoin network becoming more decentralized with the forced exodus of miners within China and its territories Bitcoin...

Jul 03 2021

Bitcoin Could Be Headed to $24k if $30k Does Not Hold – Report

Bitcoin has been on a downtrend for the last three months $30k continues to be the support area to watch for Bitcoin on a macro level This level also coincides with the 0.618 Fibonacci Retracement Level of Bitcoin's push from $9,400 to the recent all-time high of around $64,800 A failure of $30k could lead to further losses to the $24k price area...

Jul 01 2021

Bitcoin S2F Creator: The Next 6 Months Will Make or Break the Model

Bitcoin closed the month of June at a value of $35,037 According to PlanB, the monthly close was at the lowest boundary of his Bitcoin S2F model Bitcoin had a similar close in January 2019 when it deviated by -61% from the model The next 6 months will be a make or break time period for the Bitcoin stock-to- flow model Bitcoin has dropped...

Jun 30 2021

China is Helping Bitcoin Remove the Last Area of Major Centralization

According to Willy Woo, China banning Bitcoin mining is helping BTC remove the last area of major centralization Banning Bitcoin mining and trading makes BTC stronger, more resilient 2021 will go down in history as the year countries, corporates, funds, and high net individuals pushed for Bitcoin adoption Veteran Bitcoin analyst, Willy Woo, is of the opinion that the ongoing crackdown on Bitcoin...

Jun 29 2021

Tom Brady Admits Bitcoin Laser Eyes Did Not Work, Asks for Alternative

Tom Brady has admitted that adding laser eyes to his Twitter profile did not help with Bitcoin's price action He has since requested his followers for additional ideas that might yield better results for Bitcoin The seven-time Superbowl champion quarterback revealed he was a Bitcoin bull in mid-May when he added laser eyes to his Twitter profile picture Bitcoin is once again trading...

Jun 28 2021

BTC’s Block Interval Hits an 11-yr High, Block Confirmation at 23 min

Bitcoin's time between blocks has hit an 11 year high The average confirmation time on the Bitcoin network has also risen to 23 minutes The Bitcoin network is scheduled for a mining difficulty adjustment in 4 to 5 days Bitcoin's difficulty will drop by 23.50% and due to the ongoing BTC mining crackdown in China Bitcoin is once again above $34k with the...

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