Day: July 2, 2020

Market Wrap: Bitcoin Briefly Breaks Below $9K, but Markets Remain Comatose

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Bitcoin broke below $9,000 Thursday afternoon as the leading cryptocurrency has continued to trade in a tight range just above $9,000 for several weeks. Despite the brief 3% afternoon drop, however, the cryptocurrency markets continue to stay eerily calm as volatility drops and traders continue to expect a big move. Bitcoin was changing hands at around $9,060 as of 20:00 UTC (4 p.m. ET).  Ether, the second-largest cryptocurrency by market capitalization, dropped 3%, trading around $225 as of 20:00 UTC (4 p.m. ET), according to Coinbase. Bitcoin teased bearish traders…

TOP 3 CRYPTOCURRENCY "ALTCOINS" TO BUY 2020 | SHARDER CRYPTO REVIEW

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Elon Musk Says He Isn’t Building Anything on Ethereum

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Tesla’s eccentric CEO and co-founder, Elon Musk directly referenced Ethereum (ETH), saying he is not for or against the network.  “I’m not building anything on ethereum. Not for or against it, just don’t use it or own any,” Musk revealed in a July 2 tweet.  The tech mogul responded to a movie star’s crypto tweet Musk’s tweet came in response to a July 2 tweet from movie star William Shatner.  “Cryptonians!” Shatner said, addressing the crypto community, adding:  “My friends Vitalik Buterin and Elon Musk were trying to decide what to build…

Bitcoin Miners Saw 23% Revenue Drop in June

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Bitcoin miners suffered a 23% drop in revenue during June, resulting from lower network fees and a reduced block subsidy after the halving in May.  Down from $366 million in May, bitcoin miners generated an estimated $281 million in revenue in June, a three-month low according to Coin Metrics data analyzed by CryptoX. Estimates assume miners sell bitcoins immediately. Mining is the process of adding confirmed transactions to the Bitcoin blockchain. For the resources required to mine, the network compensates miners via subsidies and transaction fees. Subsidies are paid per…

Amazon CEO Bezos Now Has More Money Than Bitcoin’s Market Cap

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Jeff Bezos, CEO of online shopping giant Amazon, recently tapped record wealth levels, holding more personal wealth than all the speculative capital currently invested in crypto’s largest asset — Bitcoin (BTC).  “Amazon stock shares surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 billion,” Bloomberg said in a July 1 article. “That tops his previous high of $167.7 billion, set on Sept. 4, 2018, according to the Bloomberg Billionaires Index.” Bezos’ deep pockets compared to Bitcoin At press time, Bitcoin holds a market cap of…

Venezuela’s Maduro Denied Access to Gold Storage as Self-Sovereign BTC Shines

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Venezuela’s allegedly corrupt leader, Nicolás Maduro, recently lost a court battle involving approximately $1 billion of gold.  “The UK High Court has ruled against Venezuela’s government in a legal battle over access to $1bn (£820m) of gold stored in the Bank of England,” BBC said in a July 2 article.  As a self-sovereign digital asset, Bitcoin lies outside of centralized control. If Maduro stored that value in Bitcoin, he may still have access to those funds.  Funds in flux Several months ago U.S. authorities came forward with allegations against Venezuela’s…

Coinbase’s “Data Plumber” Denies All Allegations

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A source close to Plaid, the company that serves as a “data plumber” to Coinbase, Robin Hood, Square’s Cash App and many others, denied all allegations of the class action complaint that was recently filed. The entire complaint hinges on the allegation that Plaid sells user data to the “highest bidder”. A Plaid spokesperson called this allegation “baseless”.  A money-making operation? A source close to Plaid’s legal team, speaking to Cointelegrpah on the condition of anonymity, reaffirmed that the company has never sold user data in any shape or form.…

IS ANOTHER BITCOIN BREAKOUT COMING? THIS ANALYSIS IS TELLING!

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Check out the Cryptocurrency Technical Analysis Academy here: Join the First Cohort here: For inquiries, please contact us at CryptoJebb@gmail.com Use the coupon code “May2020″to get $40 off of the Cryptocurrency Technical Analysis Academy! In today’s Bitcoin update, we discuss where Bitcoin is headed in the short term future. We talk about the small rally bitcoin finds itself in and where we are most likely headed next. If you would like to support the channel, below are affiliate links that give me…

‘Running Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network

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During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a new version of the Drivenet software. On June 29, the Bitcoin proponent John Light tweeted “Running Drivenet” on Twitter, letting the public know about the application’s “important benefits.” During the last five years scaling concepts, offchain networks like Lightning, and sidechains have been both hot and controversial topics. This week,…