Federal Reserve Chairman Jerome Powell said in a question and answer session hosted by the Cato Institute on Sept. 8 that the central bank will continue to hike rates until inflation is under control. However, these comments did not rattle the markets as much as most would have anticipated, indicating that traders might have already factored in a 75 basis point rate hike in the Fed’s next meeting on Sept. 20–21. Bitcoin has been strongly correlated with the S&P 500 and inversely correlated with the United States dollar index (DXY)…
Tag: Bitcoins
Pinning the Tail on Satoshi Nakamoto — How Journalists Erroneously Used Circumstantial Evidence Over the Years to Identify Bitcoin’s Creator – Bitcoin News
The search for Satoshi Nakamoto, Bitcoin’s mysterious inventor, has been an ongoing hunt for the last 13 years. Since 2014, dozens of so-called candidates have appeared, but none of them have convinced the greater community that they are Bitcoin’s creator. Furthermore, journalists from publications like Newsweek have pointed to a few specific individuals, and nearly every one of them has denied playing a role in the creation of the world’s leading crypto asset. In October 2011, a journalist thought he discovered Nakamoto’s identity, or felt like he offered enough compelling…
Bitcoin’s Correlation With Other Tokens Will Weaken as Its Dominance Declines
Despite surging inflation, war in Ukraine, concerns of a recession and volatile global currency moves, bitcoin is weakening relative to ether (ETH). The market cap ratio of the two tokens has dropped to around 1.9x, from as high as 20x in 2016, the report said. Original
Binance’s USDC Swap-Out Isn’t What You Think it Is; What’s Behind Bitcoin’s Late Dive?
On the one hand, the fact that the exchange is removing, behind the scenes, USDC as one of its pegs would suggest that it might be a grander play to delete the stablecoin from history after it gets absorbed. After all, one of the functions of stablecoins aside from their use in trading pairs is to provide dollar stability that their name endows. Original
Marathon Digital Energized 25,000 Miners in August, Produced 184 Bitcoins
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Ethereum Co-Founder Vitalik Buterin Discusses Bitcoin’s Long-Term Security – Bitcoin News
On September 1, Vitalik Buterin conducted an interview with the economics author Noah Smith and the co-founder of Ethereum spoke an awful lot about Bitcoin and the network’s long-term security. Buterin also discussed the crypto economy’s crash and he insisted he was “surprised that the crash did not happen earlier.” Buterin: Bitcoin Is ‘Not Succeeding at Getting the Level of Fee Revenue Required to Secure What Could Be a Multi-Trillion-Dollar System’ Ethereum’s co-founder Vitalik Buterin recently did an interview with the economics author Noah Smith and Buterin had a lot…
Bitcoin’s in a bear market, but there are plenty of good reasons to keep investing
Let’s rewind the tape to the end of 2021 when Bitcoin (BTC) was trading near $47,000, which at the time was 32% lower than the all-time high. During that time, the tech-heavy Nasdaq stock market index held 15,650 points, just 3% below its highest-ever mark. Comparing the Nasdaq’s 75% gain between 2021 and 2022 to Bitcoin’s 544% positive move, one could assume that an eventual correction caused by macroeconomic tensions or a major crisis, would lead to Bitcoin’s price being disproportionately impacted than stocks. Eventually, these “macroeconomic tensions and crises”…
Long-Dormant Bitcoins Move at Low Prices, but It’s Probably Nothing
This isn’t the first time this year that large long-dormant BTC transactions have been spotted. The CryptoQuant post said more than 10,000 BTC was moved when the BTC price was at $47,700 in March, 2,800 BTC moved in May, and more than 1,100 BTC was moved at $23,000 per coin in July. Source
Bitcoin’s Mining Difficulty Change Prints 2022’s Second Largest Increase — Metric Nears All-Time High – Bitcoin News
On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin (BTC) has experienced the third difficulty increase this month as the difficulty increased by 9.26% on August 31. The difficulty change took place at block height 751,968, and the 9.26% jump is the second biggest this year. The…