Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability.
Let’s explore the bull and the bear case for Bitcoin’s price in the current market condition, stemming from predominantly on-chain information.
To summarize the overall bullish indications from an on-chain perspective, we can look at the exchange net position change on all exchanges.
This examines the change of the supply held in exchange wallets over…
The world of Non-Fungible Tokens (NFTs) offers a golden opportunity for entrepreneurs to maximize the traction of their business. They have a soaring market capitalization of $22.25 billion and a daily trading volume of $2.68 billion, according to CoinMarketCap.com. Hence, trading in crypto collectibles is a profitable investment. We cannot wait to unveil the same! So, stay glued to know more about Non-Fungible Token Development.
It is a unique kind of crypto collectible with characteristics like immutability and non-interchangeability. NFTs are created on blockchain networks like Binance Smart Chain, Cardano, Cosmos, Ethereum, EOS, Flow, Polkadot, and TRON.
Millions of dollars…
If it seems like everyone you know is investing in Bitcoin these days, well, you may be on to something. Cryptocurrency is growing increasingly popular, and while there are many digital coins to invest in, Bitcoin is among the most well-known. To some degree, that could make it a more viable investment than some of the other digital currencies out there.
That said, if you’re going to invest in Bitcoin, you’ll need to go in prepared. Here are three things it pays to do before adding Bitcoin to your investment portfolio.
Whether you’re investing in Bitcoin or opening a brokerage…
A rare bullish bitcoin signal, the difficulty ribbon compression, has started pumping up for the first time since the bull run started.
As pointed out by a BTC analyst on Twitter, the difficulty ribbon compression seems to be going up for the first time since the bull run started.
The indicator is a measure of the moving averages of bitcoin mining difficulty. The mining difficulty metric can be calculated by estimating the number of hashes for mining a block.
To properly quantify these values, the BTC difficulty ribbon compression uses a normalized standard deviation. …
Cryptocurrency has headlined many news articles, served as the subject of social media posts, and gained significant traction in mainstream culture. Bitcoin, the first digital currency, has grown exponentially in recent years, with a total market capitalization growing from a modest $10 billion in July 2016 to over $1.1 trillion earlier this year.
If you’ve held on to your Bitcoin since then, you’ve obviously learned how to increase your net worth and now have a sizable unrealized capital gain in your portfolio. But what happens if you choose to convert this erstwhile investment into an actual currency used to buy.
BBCStaticMiner, one of the largest enterprise Bitcoin self-mining companies in Europe, today published unaudited bitcoin (“BTC”) production and miner installation updates for June 2021.
Corporate Highlights as of July 1, 2021
The development of currency is directly connected with the use of new technologies and the introduction of innovations. The digital development of financial technology invariably leads to the development of cryptocurrencies.
Many financial technologies, previously perceived with skepticism, are fundamental to the smooth functioning of the financial system and contribute to stability at critical times.
The COVID-19 crisis accelerated the digitalisation of the payment industry bringing innovations and disruptive technologies at a faster rate than was predicted. Integration of technology, new knowledge production methods and the development of new information networks led drastic changes in the financial industry.
Over the weekend, Bitcoin miners saw a large windfall materialize as the cryptocurrency’s blockchain saw mining difficulty tumble by 28% on Saturday morning, the largest decline ever recorded in its history.
Predictions that mining difficulty would plunge had been flagged the previous week as the recent crackdown on digital currencies in China knocked out a large chunk of computing power usually used to mine Bitcoin, reducing competition and opening up the market to non-Chinese competitors.
However, the decline was steeper than some had predicted, with analysts at Glassnode having previously estimated that mining difficulty would fall by 25%.
The Bitcoin Mining Council surveyed one-third of the global Bitcoin mining industry. Firms that participated in the survey were found to use energy with a 67% sustainable power mix.
Based on this, BMC estimates that the industry-wide sustainable electricity mix has grown to 56% in 2021.
A recent Forbes article stated that the deal between digital assets management firm NYDIG — a sister company of Stone Ridge Asset Management — and NCR will enable community banks and credit unions to offer clients crypto trading through apps built by the payments provider.
“We’re firm believers in the benefits of crypto and the strategic application,” said Douglas Brown, NCR president of digital banking.
This arrangement implies…
BBCStaticMiner is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.