Day: July 12, 2019

Bitcoin Mining Industry Is Booming as Difficulty Soars 14% to New High

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Mining difficulty on the Bitcoin (BTC) network has taken its steepest upturn in almost a year, data from major Chinese mining pool BTC.com reveals. On July 9, difficulty surged by over 14% to hit 9.06 trillion (9.06 T), at an average hash rate of 64.85 EH/s — a new all-time-high in the network’s history. The last time the network posted such a sharp increase in block producing difficulty was back in late July 2018, when it soared almost 15% over a 2,016 block interval.  At that time, however, average hash…

Opera Integrates Bitcoin (BTC) and TRON (TRX) to Its Browser

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Opera has launched the ability to use BTC and TRX on the beta version of its browser, allowing for the further adoption of Web 3.0 protocols in the mainstream. Until now, the inbuilt crypto wallet had only supported ERC-20 tokens, which has now been expanded to include BTC and TRX, July 10, 2019. Launching for Large Scale Adoption Opera is one of the biggest browsers in the world, with most users predominantly using the mobile app. Bitcoin, the genesis network for cryptographically secured currency, is currently seeing the value of…

Trump Pump? Bitcoin Price Buoyant After US President Says He’s ‘Not a Fan’

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Bitcoin (BTC) was starting to reverse upwards July 12 as a critical tweet from United States president, Donald Trump, became a hot talking point across cryptocurrency. Market visualization courtesy of Coin360 Data from Coin360 showed BTC/USD 0.9% up over the past 24 hours after a significant downturn earlier on Thursday.  At press time, the pair traded around $11,600, having bounced off support at just above $11,000.  Bitcoin 7-day price chart. Source: Coin360 Volatility has lessened over the past nine hours, despite the first-ever public comments from Trump on crypto, which…

Donald Trump Takes a Dig at Bitcoin and Facebook’s Libra

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Speaking at the social media summit, US President Donald Trump takes a jibe at Bitcoin and cryptocurrencies in general. Says the US Dollar is the most superior currency and will continue to remain so. Finally, it’s the US President Donal Trump who joins the regulatory chorus to criticize Bitcoin and Facebook Libra. In a series of tweets, President Trump stated his opinion about cryptocurrencies saying he’s “not a fan” of digital currencies and thinks that they are “not money”. This was probably Trump’s first comment on crypto where he was…

Cardano Plans To Boost Liquidity As ADA Bears Strike

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Cardano (ADA) down 17.7 percent week-to-date.  AlgoZ and Cardano partner for liquidity Charles Hoskinson’s Cardano is distinct because of their insistence on quality and research. Therefore, despite recent sell-off, their deal with AlgoZ could attract institutional backing. Meanwhile, ADA is down 17.7 percent week-to-date. Cardano Price Analysis Fundamentals That Cardano has potential as a top-tier digital asset and smart contracting platform is true. Boasting high trading volumes and managing to compete with the likes of Ethereum and Tron in the liquidity leaderboard, ADA is proving that it deserves to be…

Japanese Crypto Exchange Bitpoint Suffers $32 Million Hack

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Japanese crypto exchange Bitpoint has suspended all services after losing $32 million in a hack involving XRP, Bitcoin (BTC) and other cryptocurrencies. In an official announcement on July 12, Bitpoint revealed that it had lost around 3.5 billion yen (~$32 million) — 2.5 billion yen (~$23 million) of which belonged to customers and 1 billion (~$9.2 million) to the exchange. Bloomberg reports that shares of Bitpoint’s parent firm Remixpoint Inc. shed 19% following news of the incident, and were untraded in Tokyo as of 1:44 p.m. “on a glut of…

Bitcoin Price (BTC) Testing Crucial Support: Can The Bulls Stage Recovery?

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Bitcoin price declined sharply below the $12,000 support area against the US Dollar. The price traded close to the $11,000 support and it is currently consolidating losses. There is a key bearish trend line forming with resistance near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either recover above $11,400 or it might extend losses below the $11,000 support. Bitcoin price reached the key $11,000 support area against the US Dollar. BTC is currently consolidating and seems to be preparing for the…

Bitcoin And Crypto Market Remains Vulnerable: BCH, XLM, EOS, TRX Analysis

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The total crypto market cap declined heavily and tested the $285.0B support area. Bitcoin price is under a lot of pressure and it recently tested the $11,000 support area. BCH price is down 5% today and it settled below the $350 support area. EOS price is currently correcting higher, but it may face hurdles near the $4.80 level. Stellar (XLM) price tumbled below the $0.0900 level and even tested the $0.0850 support. Tron (TRX) price extended losses by more than 8% and broke the $0.0300 support area. The crypto market…

Ripple Price (XRP) Could Underperform: Recovery Could Face Hurdles

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Ripple price declined heavily below the $0.3800 and $0.3500 support levels against the US dollar. The price even traded close to the $0.3000 support level and it is currently correcting higher. There is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could correct higher, but upsides are likely to remain capped near $0.3460. Ripple price is currently under a lot of pressure against the US Dollar and bitcoin. XRP price might recover towards the $0.3460…

Bitcoin Falls to $11,200: Why Analysts See Downside

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What’s Next For Bitcoin? Bitcoin (BTC) has continued to slip into Friday, falling to $11,200 as of the time of writing this. While the selling momentum has undoubtedly slowed, with bulls managing to push back bit by bit, many analysts are now short-term bearish, claiming that a move even further to the downside may just be imminent. As Bravado’s lead analyst, Bitcoin Jack, points out, BTC topping at $14,000 late last month looks “awkwardly symmetrical” in structure to the 2017 top of $20,000 and the inverse chart of the bottom…