Day: July 1, 2019

Bitcoin Miner Buys 5,000 ASICs as Network Hash Rate Climbs to New All-Time High

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German Bitcoin (BTC) mining company Northern Bitcoin has signed a deal to buy almost 5,000 mining rigs from Bitmain and Canaan Creative, the company confirmed in a press release on July 1. Northern, which is headquartered in Frankfurt but operates a site in Norway, aims to double its capacity, currently operating with 55 petahashes per second.  The expansion is part of a long-term scaling plan with a focus on sustainable energy which began last week, officials explained, as the Bitcoin mining industry becomes ever more popular and competitive.  “The acquisition…

Wall Street Whale Henry Kravis Splashes into Cryptocurrency

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The financial whales are slowly diving into the crypto sector with the world’s 317th richest person, Henry Kravis, also trying his luck by joining the rapidly growing industry. Henry Kravis, the co-founder of Kohlberg Kravis Roberts, has decided to test cryptocurrencies. The world’s 317th richest person follows in the lead of other financial whales like Peter Thiel, Louis Bacon, and Alan Howard. All these famous individuals have already got involved in crypto. In 2018, co-founder of Brevan Howard Asset Management, Alan Howard, hired employees to help him manage chunks of…

This Textbook Indicator Hints a Sharp Bitcoin Trend Reversal

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The bullish outlook for bitcoin improved exceptionally in the second quarter of 2019 as the cryptocurrency surged by more than 165 percent. But according to a crucial technical indicator, a sharp reversal is underway. Prominent market analyst Josh Rager spotted Shooting Star — a candlestick pattern in which an open, low, and close, are virtually the same — on a weekly bitcoin chart. Rager called the Shooting Star pattern a “sign of a bearish reversal,” further confirmed by a long upper shadow towards the week’s peak level of $13,868.44, as shown in…

These Are the Cities Googling ‘Bitcoin’ as Interest Hits 17-Month High

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Data from Google Trends’ search analytics resource reveals that internet googling of ‘bitcoin’ (BTC) is now at a 17-month high, according to the most recently updated data for June 29. Internet searches for ‘bitcoin’ worldwide. 1 July 2017-29 June 2019. Source: Google Trends Amid the coin’s current bull momentum, public interest has ratcheted up to levels last seen on 11-17 February 2018 — a week in which bitcoin swung wildly between around $8,600 and $10,200 in the turbulent weeks that followed its 2017 all-time price highs. A geographical breakdown of…

Bitcoin Charts Hint At Price Pullback to Below $10K

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View Bitcoin could fall below $10,000 this week as a strong sign of buyer exhaustion have emerged on the weekly chart in the form of “gravestone doji” candle. A bear cross of short-term moving averages and weakening buy pressure on the daily chart also suggest scope for a drop. The case for a price retreat into the four digits would weaken if bitcoin jumps above $12,450, invalidating a bearish pattern on the 4-hour chart. That would open the doors to a retest of the recent high of $13,880. With the…

Bitcoin Price Rally Fizzles after Most-Bullish Quarter since 2017

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The price of bitcoin (BTC) is going down despite registering its most incredible quarter performance since December 2017. The BTC-to-dollar instrument was trading at $10,875 on Monday, 07:50 UTC, down more than 8.5 percent on a 24-hour adjusted timeframe. The move downhill dragged the bitcoin’s market capitalization close to $193.41 billion. At its highest, the cap was $313.82 billion. Bitcoin price has been soaring in 2019. | Source: TradingView Over the past five days, the bitcoin price has witnessed a sharp decline of more than 21 percent from its 2019 high.…

Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation

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Bitcoin (BTC) has been profitable as an investment 98.2% of the days since its creation, data from holdcalc.com as of July 1 indicates. Counting 3830 days back — to January 4, 2009, one day after the coin’s Genesis Block was hashed  — holdcalc’s data suggests that on 3671 of these, it was profitable to buy bitcoin (BTC) as an investor. That leaves 69 unprofitable days — which include virtually all days during December 2017, at the apex of bitcoin’s historic bull run to $20,000 — as well as almost all…

People Referred to in Bitcoin White Paper Share Views on the Future of Cryptos

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Two persons cited on the Bitcoin white paper – Blockstream CEO Adam Back and Yugen Partners Chief Scientist Scott Stornetta, share their thoughts on the future of Bitcoin and cryptocurrency technology in the whole. Blockstream CEO Adam Back, the person responsible for creating hashcash, and Yugen Partners Chief Scientist Scott Stornetta, who co-authored three other papers cited in the Bitcoin white paper, were asked to share their thoughts on the future direction of Bitcoin and the cryptocurrency space more generally. YouTuber Naomi Brockwell went on to ask them about Bitcoin’s…

Bitcoin Price Going Sideways Around $12K as Volatility Increases

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Bitcoin Price Going Sideways Around $12K as Volatility Increases July 1, 2019 by Ramiro Burgos So the bitcoin price bull run — one that promised to take BTC to new heights and create levels of FOMO we haven’t yet seen — hasn’t happened… yet. Read our weekly technical analysis to decide if it could still, or make us wait in suspense for another few months.  Also read: Bitcoin Price Could Hit $12K or Even $16K After Recent Surge Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Bitcoin…

Bitcoin Price Clings to $11,000 As Analysts Prepare For 40% Price Correction

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Bitcoin (BTC) led major cryptocurrencies on a fresh downward spiral July 1 after markets halted support above $12,000. Market visualization courtesy of Coin360 Data from Coin360 shows bitcoin has lost its grip on the $11,000 mark as of press time, trading around $10,950 having gone as low as $10,680. Conditions remain volatile this week, with last week’s peak of $13,800 still unchallenged. Now, attention is turning to a long-term retracement, which one analyst claims could bring BTC/USD down to just $6,600.  Previously, talk was of a lighter correction which would…