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Determining Bitcoin’s (BTC) value can be more complicated than simply looking at its current market price. “Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet. While Bitcoin sits around $12,000 at press time, many folks in the crypto industry likely value the asset at a much higher price tag. If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin…
The total USD value locked in decentralized finance (DeFi) protocols recently surpassed the $6 billion mark according to onchain data resource, DeFi Pulse. Currently, the figure rests at $6.32 billion, after rising nearly six-fold since it reached the $1 billion mark less than three months ago. The exponential growth seen this year can largely be attributed to the advent of yield farming and the release of Compound protocol. However, recent research by Encode Club founder Damir Bandalo, found that this figure is somewhat inflated. Instead of $6.32 billion, Bandolo says…
Chainlink has been witnessing some intensely bullish price action over the past few weeks and even months, but the cryptocurrency faced a brutal selloff yesterday that caused its price to slide as low as $15.00. Bulls have been absorbing some of this selling pressure, but it is still showing some signs of weakness as it fails to post any large upswing. This has led some analysts to note that it may be well-positioned to see some further downside in the near-term that potentially leads it as low as $13.00. Despite…
Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with bitcoin. Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy bitcoin at $50,000. Buffett Changes His Mind About Gold, Bitcoin Could Follow Billionaire investor Warren Buffett had always held a negative view on gold as an investment. He previously said repeatedly that he preferred to buy shares of good companies instead of any gold investments. That has changed, however. Buffett’s company Berkshire Hathaway revealed Friday…
Bitcoin’s prices were off from Monday’s high. Meanwhile, high fees on Ethereum helped decentralized exchange Uniswap rake in $7 million over the past month. Bitcoin (BTC) trading around $12,002 as of 20:00 UTC (4 p.m. ET). Slipping 2.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,825-$12,412 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since Aug. 16. Source: TradingView Read More: Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China After hitting a 2020 high Monday, bitcoin dipped…
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Bitcoin price has grown over 40% since the asset’s halving this past May. The market braced for the miner “death spiral” caused by the sudden doubling of the cost of producing each BTC, but it never arrived. Now data is showing that rising Bitcoin fees might have been responsible, at least in part, for avoiding the miner death spiral from the cryptocurrency’s previous halving. BTC Mining Blockchain Backbone Healthier Than Ever To ensure that Bitcoin required no third-party or intermediary to validate transactions and keep the network secure, Satoshi Nakamoto…
There’s no shortage of options for on-ramps and off-ramps, including some of the most well known names in the industry. Starting with custodial exchanges, big-name companies such as Coinbase and Binance all offer purchases of cryptocurrency with a debit card, as well as a variety of options for moving fiat off-exchange. This can be ideal for those looking to get their hands on some assets to trade. However, there will generally be a commission paid when the client eventually does want to withdraw their assets. While this can be ideal…
Popular crypto futures trading platform Bybit is currently hosting thousands of participants for its World Series of Trading, or WSOT, competition. With roughly 12 days left before the competition concludes, 12,368 participants currently pursue 200 Bitcoin (BTC) in prize money, valued around $2.4 million, data from the exchange’s WSOT page shows. Bybit unveiled its WSOT at the end of July, noting the event will occur twice per year going forward. On Aug. 10. traders threw their hats in the ring, seeking to secure the best profit/loss ratio, or P&L, prior to…