Day: April 6, 2020

Major Chinese Mining Pool Drops out of BTC Mining Race, Looking to Altcoins

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Although the Bitcoin hashrate has increased 33% in the last 48 hours the mining industry still faces uncertainties. This has left Baite mining pool, one of the top Chinese pools with no choice but dropping out of the mining race.  According to local blockchain media on April 6, Chinese mining company Valarhash’s Baite mining pool hash rate decreased significantly from 4000 to 200 petahashes per second earlier in March. The pool decided to leave the Bitcoin mining business and possibly move into altcoin mining in the near future.  Over 9%…

Bitcoin Price Rallies Higher but Must Hit $8K to Start a Bull Market

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Bitcoin (BTC) closed the week up 15.4% at $6,775 and has started the day with a further 6% move to the upside, breaching the $7,000 handle and making highs at $7,300.  Looking at performance relative to its peers, Ether (ETH) and EOS have posted an impressive 16% gain over the last 24 hours. As a result, Bitcoin dominance is down 1.5% at 65%. Crypto market daily price chart. Source: Coin360 The total cryptocurrency market capitalization breached the $200 billion level, breaking from the diagonal resistance dating back to February when…

Tech Giant Microsoft Patents New Bitcoin (BTC) Mining System 

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Tech giant Microsoft has patented a new crypto mining solution that uses human bodily activity data to reward people with digital currency when they perform certain tasks. The firm says the new system aims to reduce computational energy consumed during mining while also making the mining process faster, according to a report released April 6, Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News Original

Most of China’s DLT Firms That Closed in 2019 Were Scams or Poorly Planned

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Most of the blockchain firms that closed in 2019 were cryptocurrency scams or had deficient business models, according to recent research. Research sent to Cointelegraph by Chinese market research firm EqualOcean on March 26 suggests that most blockchain-backed Chinese businesses that halted their activity last year had major flaws. Short-lived companies The report found over 70 blockchain projects that shut their doors last year. Among them over 70% of the projects reportedly did not survive their first year and 30% did not last 6 months. The research reads: “A considerable…

Tezos Co-Founder Hints That Her Trading Card Game Will Use Alternative Blockchain

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Tezos co-founder Kathleen Breitman has left open the possibility that her trading card game Emergents may not be built on the company’s blockchain, according to statements made on April 5. According to the Reddit post, Kathleen pointed out that Emergents might not be using Tezos blockchain technology, saying she had not yet decided on the platform she will use in the game. In a comment left on the post, she added the following: “The alpha doesn’t have a marketplace, it’s an alpha. The white paper doesn’t describe any feature that…

Price Analysis April 6: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

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Many major cryptocurrencies are breaking out of their critical overhead resistance levels and it seems the uptrend is likely to continue for the next few days. During a crisis, the first thing panic-stricken investors do is to sell almost every asset class they perceive is likely to go down. However, after the panic settles down, the bottom fishers step in and start buying the assets that show value. We have seen both of these phases play out for cryptocurrencies. The sharp selloff on March 12 was a good example of…

Ethereum Creator Picks Two Worst Bull and Bear BTC Predictions Ever Made

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As the world’s biggest cryptocurrency, Bitcoin (BTC) is highly volatile, once surging from $1,000 to $20,000 in the span of just over a year. The coin has become the subject of infinite price predictions. Both optimistic and negative, some of these predictions have turned out to be extremely inaccurate. Vitalik Buterin, the well-known co-creator of the Ethereum network and its native cryptocurrency Ether (ETH), highlighted the two worst Bitcoin price predictions ever made since the digital currency was introduced back in 2009. In an April 6 tweet, Buterin emphasized that…