Three key macro factors raise the probability of a prolonged Bitcoin bull market, but a short term correction is very likely. The price of Bitcoin (BTC) has increased by nearly 30% since late June, from $8,905 to just under $11,500 as of press time. Following the strong rally of the dominant cryptocurrency, three macro factors […]
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Bitcoin mining difficulty has risen by 9% since the May 11 halving, demonstrating that the ecosystem remains healthy despite post-halving miner capitulation fears. After the May 11 halving, some skeptics speculated that miners would capitulate or that the entire process would enter a death spiral. Fast-forward three months and the Bitcoin (BTC) hash rate is […]
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An analyst warns that there is now “just too much money to spend” as the wild money printing regime of central banks fuels Bitcoin’s strength. There is “too much money to spend,” and this will help Bitcoin (BTC) reach its next phase of huge price increases, analysts believe. In a blog post on Aug. 25, […]
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The giant continues to give a boost to its prime product despite recent shipments issues. Major cryptocurrency mining hardware manufacturer Bitmain is making a major sale to Riot Blockchain, a Nasdaq-listed crypto mining company. According to an Aug. 24 announcement, the firms signed a $17.7 million purchase agreement for 8,000 Bitmain Antminer S19 Pros that […]
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$112 million in Ethereum options expire on August 28 but data shows traders remain bullish even as ETH trades below $400. Ether (ETH) options contracts open interest have grown five-fold in the past three months to currently sit at $452 million. The $112 million set to expire this Friday could have a considerable market impact, […]
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Messari noted a lack of expenses as one potential reason for this. Messari believes that Yearn.Finance’s YFI token is one of the least expensive in the DeFi space, according to its price-to-sales multiple. The metric is calculated by dividing a token’s market capitalization by its annualized yield. In YFI’s case, its capitalization at the time […]
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Iran is rewarding people who turn in crypto miners operating without a license. Whistleblowers helped Tavanir, Iran’s power company, shut down 1100 crypto mining farms that were allegedly operating without the proper licenses. Although Tavanir says that some of the miners were using “high levels” of subsidized electricity, their report clarified that no significant changes […]
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Bitcoin’s monthly close is fast approaching and three factors point toward heightened volatility in the near term. As the monthly candle close of Bitcoin (BTC) comes closer, signs of heightened volatility are emerging. With just four days until the highly anticipated CME futures contract and Deribit options expiration, BTC’s near-term direction remains uncertain. Three reasons […]
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Can this project provide scalability without sacrificing security? BitMex’s 100x Group has awarded its last Bitcoin development grant of the year. The company has awarded a grant valued at $40,000 to Calvin Kim for his Bitcoin scalability solution, Utreexo — a project originally created by Tadge Dryja from the MIT Digital Currency Initiative. Bitcoin’s protocol […]
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The bulls are aggressively defending the 20-day EMA in Bitcoin and select altcoins, which could result in the resumption of the uptrend. The coronavirus pandemic has forced people to change several social behavioral habits. Along with maintaining social distance from one another, people are also averse to using notes, coins or cards as they might […]
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