Analysts at behemoth financial institution JPMorgan Chase & Co. warned in a published note last week that the cryptocurrency market has a capped upside. JPM asserted that the current share of market value stablecoins hold is a clear indicator of “potential rallies or declines.” Back when stablecoins controlled 10% of the total crypto market valuation, […]
Bitcoin (BTC) has cleared another peak achievement after the network recorded its highest mining difficulty since its inception. Satoshi Nakamoto, the pseudonymous Bitcoin founder, installed the mining difficulty feature to implement a 10-minute mining block time difference and a two-week mining difficulty readjustment program called the difficulty adjustment algorithm (DAA). Mining difficulty is the term […]
The ongoing conflict between Russia and Ukraine has drawn a lot of attention to Bitcoin (BTC) and the cryptocurrency industry as a whole. On one hand, the Ukrainian government has turned to crypto as its preferred tool for donations because of its universal and borderless nature, and the transparency cryptocurrency brings to the donation space. […]
Latest reports suggest that El Salvador Will suspect launching its Bitcoin (BTC) bond amid the prevailing unfavorable conditions in the broader market. The announcement came from El Salvador Finance Minister Alejandro Zelaya earlier today. The Central American nation had hoped to release the Bitcoin-backed bond this month in conjunction with Bitfinex and Tether but has […]
Cryptocurrency exchanges continue to record large outflows as reports show that $1.8 billion worth of Bitcoin (BTC), Ethereum, and Tether have recently left the market. Analysts have pointed at the extreme fear in the market as the catalyst for this outflow. Ethereum posted the highest outflows, with $748 million worth of ETH leaving centralized exchanges. […]
Bitcoin (BTC) has reacted positively, surprisingly, to the US Federal Reserve’s recent rate hike, as the benchmark cryptocurrency tapped $41,470. The US Fed raised its interest rate to 0.50%, its first rate hike in four years. The Fed’s decision comes after the Bank of England (BoE) raised rates by 25 basis points (bps) along with […]
Following a difficulty plunge to 1.49% to the 169 EH/s area two weeks ago, Bitcoin (BTC) has seen its hashrate jump by over 15% ever since, as the network hashrate hovers over 200 exahash per second (EH/s). On March 3, Bitcoin’s difficulty dropped by 1.49% after six consecutive upward difficulty adjustments. At press time, the […]
Recent reports show that the supply of Bitcoin (BTC) on cryptocurrency exchanges has depleted significantly over the last few days. CryptoQuant reported that the total supply of coins on exchanges today has dropped to 2.32 million BTC, the lowest amount in over three years. The total number of BTC on trading platforms in March 2019 […]
Shark Tank star Kevin O’Leary recently announced that he has millions of dollars in cryptocurrency. O’Leary, a former critic of Bitcoin and the crypto industry, now compares investing in cryptocurrency to investing in giant corporations like Google and Microsoft. In 2019, the Canadian TV star described Bitcoin as “worthless,” “useless currency,” and called it “garbage […]
