Month: April 2022

Bitcoin is 40%+ down from its ATH, but on-chain analysts say it’s ‘starting to bottom out’

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The cryptocurrency market has experienced another rollercoaster week that saw Ether (ETH) price drop below $3,000 and Bitcoin (BTC) price hit a new multi-month low at $37,700. Equities markets also endured a sharp sell-off primarily due to investor fear over potential changes to the size of the Federal Reserve’s next rate hike. To date, Bitcoin price fell 41.72% down from its $69,000 all-time high and while the price might be in what some describe to be a bear market, a deeper dive into various on-chain and derivatives data shows that…

Famed Whistleblower Edward Snowden Reveals He Took Part in the Zcash Launch Ceremony – Altcoins Bitcoin News

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Edward Snowden, the well-known whistleblower and former computer intelligence consultant who exposed the Five Eyes Intelligence Alliance, has revealed he took part in the Zcash creation ceremony. Snowden says that during the creation ceremony he “participated” and leveraged the “pseudonym John Dobbertin.” Snowden Played the Role of ‘John Dobbertin’ During the Zcash Launch A recent video published by Zcash Media explains that Edward Snowden was one of the six people who helped launch Zcash on October 23, 2016. According to the video, the six individuals did not know who the…

Panama’s legislature approves bill regulating crypto

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Lawmakers in Panama have passed a bill that will regulate cryptocurrencies, including Bitcoin, in the Latin American country. In a Thursday tweet, Panamanian pro-crypto congressperson Gabriel Silva said lawmakers had approved the “Panama Crypto Law” following a third debate. According to Silva, the law will “help Panama become a hub of innovation and technology in Latin America.” According to Panama’s National Assembly, the Crypto Law is aimed at regulating “the trading and use of crypto assets, the issuance of digital value, the tokenization of precious metals and other assets, payment…

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