First Mover: Why Is Bitcoin’s Price Rising? Here Are a Few Possible Answers

Bitcoin is trading at fresh 35-month highs above $19,000, having defended the psychological support of $18,000 during the Asian trading hours. The crypto market leader is now just 4% short of testing the record high of $19,783. Hence, most alternative cryptocurrencies, which are still down significantly from their respective lifetime highs, are beginning to look relatively cheap. For instance, ether, the second-largest cryptocurrency by market value, is down at least 57% from the peak price of $1,431 reached in January 2018, despite having gained over 50% this month alone. Should…

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Bitcoin price has now only been higher one day in history

Bitcoin (BTC) is currently having its second-highest trading day ever as BTC/USD hitting a new multi-year high of $19,330.  Data from Cointelegraph Markets and TradingView provided a cause for celebration on Nov. 24 after Bitcoin suddenly tackled $19,000 resistance. BTC price sees second best day ever Against a backdrop of rapid gains and the temptation of breaking all-time highs around $20,000, the achievement has not gone unnoticed on Bitcoin figures. Ryan Selkis, founder of data resource Messari, noted that only one day in its existence has Bitcoin traded above even…

Bitcoin Price Surpasses $19,000, It’s Less Than 3% from ATH

With Bitcoin supply diminishing over time and mining difficulty on the rise amid heightened demand, the asset is poised to skyrocket further in the coming months. Bitcoin is really close to its ATH market price has just crossed $19,000. The coin is trading at around $19,201.39 after rallying over 1.2% in the past one hour. Apparently, the asset is less than 3% shy of its all-time high achieved during the 2018/2018 bull rally. According to the data provided by CoinGecko, Bitcoin price is now up over 162% in the past…

Lithuanian tax service’s first confiscated crypto sale nets $7.6M

The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies. The State Tax Inspectorate, or STI, the country’s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget. According to an official announcement on Nov. 24, the seized crypto assets included major cryptocurrencies Bitcoin (BTC) and Ether (ETH) as well as privacy-focused altcoin Monero (XMR). The STI said this is the first time that the agency has sold seized crypto for fiat. “The conversion…

Silk road bitcoins, CZ&Vitalik, Moon-lines and more – Weekly Crypto Report #5

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These 5 altcoins are beating every major cryptocurrency this week

Bitcoin (BTC) has topped $19,000 in a fresh bullish surge, but traders are all about altcoins on Nov. 24. In what many are heralding as the beginning of “altseason,” large-cap cryptocurrencies are seeing their biggest gains in three years. XRP, XLM lead new “altseason” Cryptox takes a look at five of the biggest movers, all of which have returned to at least a $1 billion market cap. Top altcoins by weekly gains. Source: CoinMarketCap XRP Ripple’s XRP token is gaining traction on social media after a curious lull, thanks to…

Tesla CEO Elon Musk Becomes World’s Second-Richest Person as Company Approaches $500B Market Value

According to the Bloomberg Billionaires Index, Elon Musk’s net worth has gained over $100 billion since the beginning of the year. The CEO of Tesla Inc (NASDAQ: TSLA) Elon Musk has surpassed Bill Gates to become the world’s second-richest person. According to a Bloomberg report, Musk’s net worth reached a new milestone on the 23rd of November, jumping by $7.24 billion to $128 billion.  As Tesla stock has continuously increased since the beginning of the year, the net worth of the company’s CEO has also been rising. As noted in the…

Bitcoin Developer John Newbery Launches Open-Source Dev Fund

Veteran open source Bitcoin developer John Newbery just launched Brink, a new, independent organization for funding Bitcoin’s open source developer community, a key component driving the global currency and making it work. Tuesday, Newbery and fellow Bitcoin Optech associate Mike Schmidt unveiled Brink, with prolific Bitcoin technical writer Dave Harding joining the board as independent director. Brink will dole out grants to developers working on Bitcoin projects, as well as help fledgling Bitcoin developers embark with fellowships and mentoring. Newbery told CoinDesk that he launched Brink to “further decentralize Bitcoin…

Brutal Sell-off Leads Ripple’s XRP 24% Lower; More Dump Ahead?

Ripple Labs’ native cryptocurrency XRP experienced a brutal sell-off on Monday after its price rallied to a multi-year high. The XRP/USD exchange rate reached $0.79 for the first time since April 2018, after rising four weeks in a row by almost 230 percent. Nevertheless, the pair failed to attract fresh upside bids near its latest peak. On the other hand, it faced selling pressure from traders looking to secure their short-term profits. Ripple corrects massively after logging a 230 percent-plus bull run. Source: XRPUSD on TradingView.com It overall resulted in…