Month: October 2020

12 Years Since Publication of Revolutionary Text

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In twelve years, the 9-page technical paper has turned into a worldwide famous project with over $256 billion capitalization without fundraising, marketing budget, office, and employees. And the best you can do today is to reread the document and make sure that genius is simplicity.  Bitcoin (BTC) enthusiasts are celebrating a big day: twelve years ago, on October 31, 2008, Satoshi Nakamoto published the Bitcoin white paper. Called “Bitcoin: A Peer-to-Peer Electronic Cash System”, the revolutionary text became a guide on Bitcoin transactions and predicted a bright future for the…

Bitcoin price hits $14,000 exactly 12 years after whitepaper released

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The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008. Since then, the world’s biggest cryptocurrency has seen remarkable and exponential growth across various areas. The daily price chart of Bitcoin. Source: TradingView.com Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory. An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid. Post-halving bull cycle meets Bitcoin…

The evolution of crypto exchanges — What’s next for the industry

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From what started as something of a “technological experiment” with Bitcoin (BTC) over a decade ago, the crypto asset industry has become a significant driver for change in global financial markets. Cryptocurrency exchanges started as a means to enable crypto enthusiasts to trade digital coins outside the traditional financial system on a decentralized and largely autonomous basis.  It is likely that combined with regulatory recognition and development of digital market infrastructures, acceptance of essential Anti-Money Laundering practices, investment in security protection systems, and recognition of investor protection measures will see…

Wall Street Suffers the Worst Week Since March, Dow Goes Down

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Friday’s losses came along with the coronavirus cases in the U.S. hitting new all-time highs and European countries announcing new lockdowns. Besides, this messy week comes just three days before the U.S. election, and traders are preparing for mutable market moves next week.  This trading week has been quite difficult. On the one hand, many companies shared their Q3 2020 financial results and beat analysts’ estimates, which can not but cheer investors up. On the other hand, the number of coronavirus cases has surged. This adds to uncertainty related to…

Why Bitcoin price and volume rising together is bad news for Ethereum, altseason

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Bitcoin (BTC) is sucking up the volume from the entire cryptocurrency market as it continues to rally. This is causing the alternative cryptocurrency (altcoin) market to pullback, which has seen rising selling pressure and low buyer demand. On Oct. 30, researchers at Santiment pinpointed the growing volume and dominance of Bitcoin, while Chainlink (LINK), Ether (ETH) and Binance Coin (BNB) struggled. They wrote: “The dominance involving #Bitcoin is continuing to display itself, particularly via trading volume. When comparing other top blockchains in the past day, note the decline in $ETH,…

Ethereum price ascending channel breakout possible if Bitcoin consolidates

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In the past week, altcoins prices received a significant haircut, and investors who were light on Bitcoin (BTC) saw their portfolio value take a hit.  Initially, Ether (ETH) price followed Bitcoin higher as the top-ranked digital asset rallied through the $12,000 resistance but as BTC continues to slowly push higher Ether struggled to flip $400 to support. Crypto market weekly price chart. Source: Coin360 Ether’s loss of momentum and the correction in altcoins has led to a number of crypto traders tweeting that altcoin season is done and many are…

Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

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The world-class trading platform, Bitcoin.com Exchange announced it’s participating in the Cryptopia Exchange rescue consortium in order to help redistribute coins to customers. Bitcoin.com’s trading platform will provide an exchange environment in order to bolster the Cryptopia Rescue redistribution plan. Back in January 2019, the New Zealand cryptocurrency trading platform Cryptopia Exchange suffered a major breach and it affected 2.3 million account holders from all around the world. Estimates note that roughly $860 million worth of cryptocurrency was held on the exchange before the hack. Bitcoin.com is pleased to announce…

Ethereum Reaches Bedrock Support Against BTC as Sellers Run Out of Fuel

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Ethereum is in the process of trying to reclaim its key $380 support level following a brief dip below it earlier today. The cryptocurrency has been struggling to gain any momentum despite the intense strength seen by Bitcoin as of late, which is currently grinding up towards its key resistance at $13,800 as buyers maintain full control over its price action. Although BTC and ETH have been highly correlated in the past, they are now trading fully independent from one another. This correlation only returns when BTC is showing signs…

Data Suggests New Peak Is Less Than A Year Away

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Bitcoin, although a powerful and disruptive financial technology, at its core, is mere mathematics. Its code is what keeps the network operating, its supply hard-capped at 21 million BTC, and much more. But could that computer code and supply mechanism also help provide clues to when the crypto market tops and bottoms? According to a strange correlation with the asset’s block reward halving and the timing of tops and bottoms, the solution could be nothing more than simple addition and subtraction. Adding Up All The Reasons The Bitcoin Bull Run…