Day: July 3, 2019

Energy Used by Idle Devices in the US Can Power Bitcoin For 4 Years

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Academic researchers at the University of Cambridge (UoC) have launched a real-time index that tracks the total electricity consumption of the Bitcoin network. The news was revealed in an announcement posted by the university’s interdisciplinary academic research institute, the Cambridge Centre for Alternative Finance (CCAF), on July 2. The now-live Index — the Cambridge Bitcoin Electricity Consumption Index, or CBECI — gives an estimate of the total annualized energy consumption of the bitcoin network, updated every thirty seconds. The researchers also provide a tool that compares BTC’s consumption levels with…

Energy Used by Idle Device in the U.S. Can Power Bitcoin For 4 Years

boss

Academic researchers at the University of Cambridge (UoC) have launched a real-time index that tracks the total electricity consumption of the Bitcoin network. The news was revealed in an announcement posted by the university’s interdisciplinary academic research institute, the Cambridge Centre for Alternative Finance (CCAF), on July 2. The now-live Index — the Cambridge Bitcoin Electricity Consumption Index, or CBECI — gives an estimate of the total annualized energy consumption of the bitcoin network, updated every thirty seconds. The researchers also provide a tool that compares BTC’s consumption levels with…

Bitcoin Price Recovers 20% to Break $11,000; Pullback Done, Huge Rally Next?

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Within a week, from June 26 to July 2, the bitcoin price fell from $13,868 to $9,651, recording a 30 percent pullback against the U.S. dollar. Technical analysts have expressed optimism towards the swift recovery of bitcoin from a large pullback as the dominant crypto asset has shown a change in trend within a short time frame. A big pullback for bitcoin is often followed by a rally According to Josh Rager, a cryptocurrency technical analyst, when the bitcoin price experiences a steep correction, it is often followed by a…

World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available on Bloomberg Terminal

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Two European companies have launched what they describe as the world’s first genuine bitcoin (BTC) bond, they confirmed in a joint press release on July 3.  Luxembourg-based Argento, a securitization firm, joined forces with London Block Exchange (LBX) to issue the bitcoin-denominated bond, which is regulated under the United Kingdom’s regulator, the Financial Conduct Authority (FCA). “We are thrilled to have structured and produced the world’s first institutional grade bitcoin-denominated financial product,” Argento manager Phil Millo commented.  “The large investment banks really dropped the ball on this one.” The Argento-LBX…

Binance CSO Says Bitcoin to $50k Possible — Altcoin Rally Unlikely

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Binance chief strategy officer (CSO) Gin Chao says he believes bitcoin can as high as $50,000 to $100,000 in this current bull cycle, as per an interview with BlockTV. The Binance executive does not, however, expect this parabolic BTC advance to be replicated in the altcoin market. Several commentators have publicly declared that a new altseason is bound to happen before the end of 2019. Bitcoin can Top $50,000 For Chao, history stands in bitcoin’s favor when considering the possibility of another steep climb up the price charts. During the…

Bitcoin Price ‘Extremely Bullish’ Again After 20% Pump to Over $11,000

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Bitcoin (BTC) surprised markets and and the media alike on July 3, jumping over 20% in 24 hours to overcome resistance at $11,000. Market visualization courtesy of Coin360 Data from Coin360 put BTC/USD firmly in the green Wednesday, following a turbulent few days which saw the pair drop as low as $9,688. As of press time, bitcoin traded around $11,300 having set a local high of $11,525 earlier in the day.  Bitcoin 7-day price chart. Source: Coin360 The sudden reversal immediately rubbished the theories emerging in the mainstream press and…

ChainLink (LINK) Surges 75.6%, Has Google And Coinbase Support

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ChainLink (Link) Surging, adds 75.6 percent Google entry and listing at Coinbase significant for Link Oracles are the future, and Google is strategically positioning itself to be a valuable source of verifiable data. By partnering with ChainLink, Link which also got a “Coinbase Effect” boost, is bullish in the long term. At spot rates, the token is up 75.6 percent from last week’s close. ChainLink Price Analysis Fundamental In the top 20, LINK is conspicuous. Not by what the token represents but because of its price performance in the last…

Cuba ‘Studying Cryptocurrency’ To Dodge U.S. Sanctions, Says Gov’t

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Cuba is the latest country to consider using cryptocurrency to skirt U.S. sanctions, Reuters reported quoting a government source on July 3. In a public address on local television, the country’s president, Migual Diaz-Canel, said the plan would raise capital for around one quarter of the population, helping to pay for reforms.  Cuba has felt a severe knock-on effect from the crisis in Venezuela, which was previously a major source of aid.  “We are studying the potential use of cryptocurrency… in our national and international commercial transactions, and we are…

Bitcoin (BTC) Reversal Unfolds: Bulls Target $12K or $12.5K

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A strong support base is forming near the $9,700 level after a strong decline. A swing low was formed at $9,679 before the price started a strong upward move. Yesterday’s crucial declining channel was breached with resistance near $10,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently gaining momentum above $11,200 and it could accelerate towards $12,000. There was a strong bounce in bitcoin price above the $11,000 level against the US Dollar. BTC price is up more than 10% and it…

Crypto Market Up $20 Billion Post Bitcoin Rally: BCH, LTC, EOS, ADA Analysis

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The total crypto market cap found support near the $270.0B level and recently recovered. Bitcoin price rallied more than 8% and recovered above the $11,000 resistance area. Litecoin (LTC) price is currently above $120, but facing resistances near $122 and $124. BCH price is stable above the $400 level and it is slowly moving towards the $420 resistance. EOS price is likely to trade above the key $6.000 resistance area in the near term. Cardano (ADA) price is currently consolidating above the $0.0820 support area. The crypto market cap recovered…