Tag: Bitcoins

20% drop in Bitcoin’s hash rate coming following halving

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Galaxy Digital analysts forecast a potential reduction of 20% in network hash rate due to the impending Bitcoin halving in April. The analysts predict that the halving will affect eight specific mining machine models, dropping the network’s hash rate. The halving will decrease per-block mining rewards from 6.25 to 3.125 bitcoin, prompting miners to seek increased efficiency and cost reduction to mitigate the impact of lower rewards. The current hash rate is approximately 515 exahashes per second (EH/s). The affected models were identified in a report released on Wednesday. We…

Bitcoin’s Latest Difficulty Retarget Jumps 8.24%: Miners Navigate the Toughest Mining Landscape Yet

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Bitcoin’s mining difficulty has hit an unprecedented peak, marking the most significant jump of 2024. On Thursday, at the milestone of block 830,592, the network experienced its fourth adjustment this year with a sharp 8.24% uptick. Bitcoin Mining Difficulty Skyrockets, Setting New Records in 2024 Mining bitcoin (BTC) has become considerably more challenging, following an […] Original

Bitcoin’s OP_CAT, Fake Ethereum Tokens, Starknet’s Airdrop

FILES NOT FOUND: Ethereum has a standardized process for adding new token standards, including the well-known ERC-20, for fungible tokens, and ERC-721, for non-fungible tokens or NFTs. But a new unofficial token standard, ERC-404 is suddenly getting traction – and there’s now a supposedly improved version called DN-404. Both standards aim to combine virtues of fungible and non-fungible tokens, theoretically offering the potential to fractionalize NFTs – sort of like creating separate tokens representing a partial interest. The first ERC-404 token, PANDORA, traded as high as $32,000 on Friday morning…

Crypto Fear & Greed Index Hits Highest Level Since Bitcoin’s 2021 Record High

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Here’s what bitcoin’s chart says about its next moves after it breached $50,000 this week

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Bitcoin broke through $50,000 to start the week and although a stubbornly high inflation reading has pulled it lower since, the cryptocurrency is still in safe territory, according to chart analysts. On Monday, the cryptocurrency finished above $50,000 – at one point rising to $50,334.00, its highest level since December 2021. Technical analysts had expected this breakthrough last month , when bitcoin kicked off the new year with a rally that seemed to be heading toward $48,000. It’s retesting that level now, however, and it was due for the slight…

FA Hayek’s Foresight: Imagining Bitcoin’s Unstoppable Rise Through a ‘Sly, Roundabout Way’

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In recent years, discussions have flourished around the visionary predictions of famed architect and systems theorist Buckminster Fuller, who is said to have anticipated a concept akin to Bitcoin. Similarly, industrial magnate Henry Ford is credited with imagining a novel energy currency with the potential to halt wars. Furthermore, Friedrich Hayek, a towering figure in […] Original

Bitcoin’s safe-haven features could provide ‘solid support’ for spot ETFs, Kaiko says

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As Bitcoin keeps outperforming traditional safe-haven assets like gold or bonds, providers of spot Bitcoin exchange-traded funds (ETFs) are likely to double down on their new products. Bitcoin’s (BTC) asymmetric returns and low correlation could serve as “solid support” for the recently launched spot Bitcoin ETFs, given that institutional players are likely to continue fueling the ongoing enthusiasm for crypto ETFs. In a research report, analysts at Kaiko noted that the largest cryptocurrency by market capitalization has accumulated over $2 billion in net inflow since spot ETFs launch on Jan.…

Analysts hint to short-term panic orders amid Bitcoin’s drop

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For the first time since the beginning of the year, Bitcoin (BTC) fell below the $40,000 level, leading to panic in the market. Analysts at the Greeks.live service noted that the fall of BTC below $40,000 on the night of Jan. 22-23 led to a certain number of short-term panic orders on the market, and the bearish strength of the market has increased. However, overall, long and short positions are relatively balanced, and it is still a “fierce game.” Bitcoin fell below the $40,000 as short-term IVs recovered. Overall VRP(volatility…