Day: April 28, 2022

Bitcoin Trades Above $40K Once Again, Will This Time Be Different?

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Bitcoin has returned to the $40,000 levels as it bounced back from the high area of around $30,000. The first crypto by market cap managed to hold off the bears and retraced some of this week’s losses. Related Reading | TA: Ethereum Faces Key Challenge, Why Fresh Decline Still Possible At the time of writing, BTC’s price trades at $40,200 with a 3% profit in the last 24-hours. BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview The general sentiment in the market seems pessimistic as Bitcoin remains rangebound in…

Quant Explains Similarities Between Current And Summer 2020 Bitcoin Markets

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A quant has pointed out some similarities between the current and summer 2020 Bitcoin markets through on-chain data. Bitcoin Exchange Supply Shock Ratio Has Rapidly Risen Recently As explained by an analyst in a CryptoQuant post, there seem to be some similarities between the current market trend and that during the summer of 2020. The “exchange supply” is an indicator that measures the total amount of Bitcoin present on wallets of all exchanges. This supply is usually assumed to be the selling supply of the crypto as investors generally transfer…

FinCEN acting director says PATRIOT Act provision isn’t ‘right sized’ for crypto enforcement

Him Das, the acting director of the United States Financial Crimes Enforcement Network, or FinCEN, said some of the government bureau’s tools to fight money laundering and terrorism financing may be ill suited for crypto. In a Thursday hearing of the House Financial Services Committee on ‘Oversight of the Financial Crimes Enforcement Network’, Das addressed concerns from lawmakers regarding FinCEN’s authority to pursue information on illicit digital asset transactions. Kentucky Representative ​​Andy Barr said many of the current ‘special measures’ FinCEN was authorized to use under Section 311 of the…

Bitcoin Back Over $40K as More Countries Embrace Crypto

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Bitcoin’s Unfinished Business: Why Micropayments Still Matter

Fees have risen so dramatically because Bitcoin has a competitive market for transaction fees, which fund network security, and rising demand has made transactions more pricey. The last time Bitcoin fees were low enough for anything close to micropayments was June of 2015, when the cost of a simple send broke five cents. They haven’t looked back since. Even in the deep dark doldrums of the 2019 bear market, with the bitcoin (BTC) currency trading as low as $3,000, fees were consistently above 10 cents. Source

How Bitcoin miners get rewarded for solving a block.

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io How do Bitcoin and cryptocurrency miners get paid for solving a block? When the transaction pool gets close to the maximum number of transactions, the miner adds a reward to himself in the last transaction. If the miner solves the block, the reward is conjured out of thin air. It’s literally money out of nothing! ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction

The nonfungible token (NFT) and Metaverse sectors have been the bright spots in an otherwise sideways crypto market in 2022 and proof of this comes as APE token hit a new all-time high at $22.60 today. The steady bullish momentum for APE is in large part due to the upcoming The Otherside land auction being held by Yuga Labs and Animoca Brands in conjunction Bored Ape Yacht Club NFT project on April 30. APE/USDT 4-hour chart. Source: TradingView The Otherside launch will consist of a Dutch Auction style sale and…