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.
The BlackRock CEO in the interview revealed that the global possession of Bitcoin affects the US dollar in real-time.
However, the survey revealed that PayPal has a challenge with making non-Bitcoin traders grow interests in digital assets.
The rewards credit card users will receive 1.5% back on all purchases made using the card to be launched in Q1 2021.
Bitcoin nailed a new all-time-high at $19 906 today in the wake of setting a new ATH yesterday at $19 856. The most anticipated $20K is yet to be reached, and according to the price action, establishment of a new ATH at levels around $20K is still possible.
Bitcoin reaches an all-time high in three years in a 167% year-to-date increase that has been attributed to illiquid BTC and proposed regulatory changes among others. All this happened despite low publicity.
Pizza Hut, one of the world’s largest fast-food chains, is now accepting cryptocurrency payments. It has recently revealed it will now be accepting Bitcoin and Dash payments in all its outlets in Venezuela.
According to reports, 98% of Raoul Pal’s liquidated net worth would be invested in Bitcoin and Ethereum in the ratio 80:20.
The Bitcoin mining difficulty after reaching its all-time high in October 2020 took drastic steps backward between October 17 and November 2 from 146.5EH/s to 106.6 EH/s.
Despite RippleNet general manager’s belief that Bitcoin maximalism is over, the king coin has been pulling in continuous jump.
In its filing with the US SEC, Guggenheim says that it wants to facilitate a 10% exposure from its $5 billion Macro Opportunities Fund, to Bitcoin. The investment, however, will happen through the Grayscale Bitcoin Trust and could be the biggest institutional investment after MicroStrategy.
Investor Raoul Pal notes that institutional purchases are storing Bitcoin in cold storage creating a supply squeeze. This will propel BTC price to new highs with a wide gap in demand and supply.
The PlusToken Ponzi scheme is reported to have begun back in May 2018 and advertised a non-existent crypto arbitrage trading platform.
Every year, the number of “wholecoiner” Bitcoin wallets holding at least 1 BTC has been increasing gradually. Now, the remaining addresses with less than 1 BTC account for just 5% of Bitcoin’s market cap.
Analysts are hopeful that Bitcoin’s and the overall cryptocurrency market fundamentals are more powerful than ever before. The latest market correction provides fresh opportunities for investors to take long-term positions.
Five weeks ago, OKEx suspended all account withdrawals after one of the key holders was detained by the police to assist in the investigation.