The digital currency ecosystem has slipped into a crypto winter as confirmed by the price of Bitcoin (BTC) which dropped to its 18-month low of $20,178.38 and a combined market capitalization of around $891 billion.
Terra Bitcoin Mining Pool has finally launched to the general public, a joint project between Bitcoin miner Argo and Canada-based DMG Blockchain Solutions.
The competition amongst crypto service providers in the United States is becoming real with Binance.US cutting trading fees for select Bitcoin (BTC) trading pairs.
Since both Deloitte and NYDIG have been attracted to Bitcoin, their partnership is expected to speed up blockchain adoption while ensuring compliance with the existing crypto regulation.
In the biggest selloff in Bitcoin history, Bitcoin investors have lost over $7 billion over three days.
The ProShares Short Bitcoin Strategy ETF (BITI) will allow users to profit from Bitcoin’s declining prices. It will also provide users with a hedge to their crypto exposure via an ETF.
Bitcoin price continues to crack under the heavy pressure of the wider crypto market downturn that has persisted for weeks now.
Although Grayscale remains upbeat about the future, GBTC’s performance has been the subject of criticism by market experts, channeling the blame at regulators for what they see as an inaccurate risk assessment.
New predictions from Hayes are in line with that of many analysts who think prices could fall further if prices reach the $20k support.
The bill, which was seeking to allow Panama citizens to buy everyday goods with cryptocurrencies, will now head back to Congress for study and debate.
Bitcoin News Today
Bitcoin (BTC) news covers all information on Bitcoin and other related cryptocurrencies. Bitcoin is a digital currency that was created in 2009 by anonymous founder Satoshi Nakamoto and has since gone on to lead the rise of other digital currencies like it, such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, Binance Coin (BNB), Monero (XMR), Bitcoin Cash (BCH) and Tether (USDT) among others. The cryptocurrency is decentralized and thus can be sent and transacted over its own peer to peer Blockchain network without a middleman verifying a transaction.
Bitcoin Adoption
Bitcoin (BTC) has grown in leaps over the decade and has had it’s worth multiply in hundreds and thousands since January 2009 when the first BTC block was mined. Bitcoin transactions are irreversible and pseudonymous amongst other properties. Confirmed transactions on the Bitcoin Blockchain network cannot be undone, which in its way also contributes to the strong security associated with BTC.
Over time the awareness that bitcoins like most crypto currencies operate outside the control or regulation of any third parties such as banks, financial institutions, or the government triggered a wakeup call directed to the risks investors may be exposed to when involved in this venture.
Venturing in Bitcoin
Apart from being trustless, the crypto coin is also permissionless, which sets it apart from traditional fiat currencies and government issued money. The cryptocurrency exchange is also important in bitcoin transactions and the overall ecosystem. You’ll need a cryptocurrency exchange to exchange fiat currencies or regular-coins for some BTC.
Bitcoin Mining
Bitcoin mining operations are done to issue new BTCs into the market, with the overall BTCs eligible for circulation set at 21 million. At present, Bitcoin now has more than 18 million coins in circulation and its next halving event, which would reduce its mining rewards by half for the third time, has been slated for May 2020. At present, Bitcoin has a total market capitalization higher than $110 billion and has hit records higher than 300 billion in the past. The next few years might see Bitcoin eclipse its previous records.