Veteran trader Peter Brandt has emphasized that the current bitcoin price pattern “appears as a down channel.” Brandt’s recent analysis also indicates a potentially significant long-term upside for bitcoin, contrasting with gold advocate Peter Schiff’s bearish stance on the cryptocurrency. Peter Brandt Highlights Key Bitcoin Patterns and Bullish BTC/Gold Ratio Outlook Veteran trader Peter Brandt, […] Original
As Bitcoin is experiencing an uptrend in price increasing by 12.6% in the past week to trade above $66,000, analysts at Coinbase in a Friday report have disclosed potential limitations to its upward trajectory due to “increasing sell orders” on the exchange. According to the report, the recent appreciation in Bitcoin’s value has tempted many traders to capitalize by selling, which could curb further gains. A Wall Ahead, What Happens To Bitcoin Then? This report, which analyzes the market’s overall picture, was compiled by Coinbase researchers David Duong and David…
Bitcoin’s positive sentiment has witnessed a “serious decline,” according to analysts at market intelligence platform Santiment. On Thursday, as Bitcoin (BTC) struggled to reclaim its recent upward trajectory, Santiment shared that funding rates suggest a surge in bearish bets. “Positive commentary toward Bitcoin has plummeted despite the mid-sized crypto market bounce this week. Many traders, particularly on Binance, are opening shorts with the expectation of BTC dropping again,” the platform wrote. Bullish commentary on Bitcoin price has fallen to about a third of the rate seen four months ago. Data…
Working on a Bitcoin’s testing environment known as Signet, and using OP_CAT, StarkWare says it demonstrated how zero-knowledge proofs – an increasingly popular type of cryptography that’s used to compress data or prove the validity of statements without offering information that may compromise privacy – could be carried out on the oldest and original blockchain. Original
As news emerged about British High Court Judge James Mellor’s referral to prosecute Craig Wright for perjury, Wright’s website, craigwright.net, now displays a legal notice stating he is not Satoshi Nakamoto, the creator of bitcoin. The main page of the web portal hosts the notice, which reads: “Dr Wright is not the author of the […] Original
As Bitcoin climbs above $60,000, analysts at Hashrate Index say it’s still unclear whether or not the network is “out of the woods just yet.” Bitcoin’s (BTC) difficulty is expected to undergo a “nasty positive adjustment” this week as the network’s hashrate seems to have found a “post-halving bottom,” analysts at Hashrate Index say, suggesting though that the market should “wait to see how brutal the summer will be on the grid in the U.S. before we can be sure.” Bitcoin hashrate index in USD | Source: Hashrate Index In…
Chinese journalist Colin Wu released an investigation into PlusToken, one of the largest cryptocurrency Ponzi schemes in history. According to the journalist, the Chinese authorities have confiscated a large number of digital assets. The PlusToken team, led by a middle school educated man from Changsha, raised 310,000 Bitcoin (BTC), 9.17 million Ethereum (ETH), and over 51 million EOS using a simple Ponzi scheme and pyramid scheme model. Chinese police confiscated 190,000 BTC, 830,000 ETH, and 27.24 million EOS. “A man from Changsha, Hunan, with only a middle school education, raised…
Arthur Hayes, co-founder of Bitmex, argues that the upcoming U.S. presidential election presents a unique opportunity for crypto advocates to leverage their voting power. With both major political parties vying for a narrow margin of swing voters, Hayes believes the crypto community could play a decisive role in determining the outcome. Arthur Hayes on Crypto’s […] Original
Bitcoin’s price drop last week, exacerbated by German government transfers, pushed hashprice to an all-time low of $44.31/PH/day, despite a 5% downward difficulty adjustment. Last week’s Bitcoin (BTC) price drop, worsened by German government liquidations, had pushed hashprice, a metric that represents the miner revenue on a per terahash basis, to an all-time low, triggering memories of the summer of 2021 when China’s Bitcoin mining ban caused similar disruptions in the crypto’s mining ecosystem. As per data from crypto mining analytics firm Hashrate Index, last week hashprice plunged down to…
Bitcoin struggled amid recent Mt. Gox repayments and market trends, but the bearish behavior shouldn’t be interpreted as unfavorable. Last week, Bitcoin (BTC) concluded the week at approximately $55,850, marking an 11% drop from the prior week’s closing price of $62,775. The week saw signficant selling pressure, with BTC dipping to as low as $53,500 on Thursday before rebounding to $58,250 and finally settling at $55,850. BTC Spot ETFs recorded $238 million in net inflows during the downturn. Cumulative trading volume since inception stands at around $315 billion, showcasing a…