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.
While some altcoins have gained in Ethereum’s slipstream, others are plotting their own course while seeking to topple the front-runner itself.
As per the model and based on historical chart patterns, Bitcoin (BTC) is likely to hit $100K levels in the next few months. Bitcoin is all set for an escalated price surge of over 200% from the current levels.
Chainlink has emerged as the best performing crypto over the last week with its price moving past $25 over the last weekend. Also, the massive surge in DEX activity has led to a rally in the DeFi market with the total value locked going past $26.5 billion.
As digital currencies begin to gain more recognition in the global financial market, the WEF is focusing more on blockchain technology and the crypto space at large.
Though Ethereum alone bears the glory with this current milestone, many factors work synergistically to help the coin attain the record ATH.
Bitcoin-based ETF may see the light of the day under the new Biden’s administration with Elad Roisman who will be the head of the SEC.
Today, the most reliable options are hybrid services like BitcoLoan, which provide users’ finances with a reliable platform to work with.
Bitcoin, along with other crypto assets, is said to have the best possible tax treatment for long-term investors.
Whether we want it or not we have to expect the market to expand because the cryptocurrency method is very promising for operators as well.
The surge in Bitcoin price over the past months has triggered Wall Street analysts to increase their price target. At the beginning of the year, JPMorgan analyst Nikolaos Panigirtzoglou said BTC could reach $146,000.
Though Bitcoin price dropped today, the coin is up almost 30% in the last 30 days.
Bitcoin (BTC) tanked more than 10% in one of the sharpest drops so far in 2021. The world’s largest cryptocurrency has shaken the market sentiment following which the overall crypto market lost 10% valuations.
Guggenheim’s Scott Minerd has confirmed the firm’s exposure to Bitcoin, following the filing with the Securities and Exchange Commission (SEC) to “seek investment exposure to Bitcoin through Grayscale’s Bitcoin Trust product”.
The brain behind the Bitcoin.org website said that all the allegations from Wright and his lawyers are false.
FinCEN’s recently proposed crypto wallet regulations has been the subject of major criticism from major players in the crypto industry as many experts believe it would be technically almost impossible for many crypto projects to comply.