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.
BitPay CEO Stephen Pair stated that the company considers this new platform as an ideal payment solution for international companies engaged in the gig economy.
At first considered quasi-legitimate get-rich-quick schemes, crypto exchanges are evolving into a strong business prospect with a long-term vision and tight cybersecurity measures. Their requirements for high-quality software are growing too.
PayPal said that it will be informing all of its US customers via email and push notifications. Citing high customer demand, PayPal has increased the weekly crypto purchase limit from $10,000 to $20,000.
Today, Bitcoin price reached the 33-month highs to settle above $16,000. Analysts now suggest some salient reasons could have fueled the surge.
On Thursday, November 12th, BTC has paused its growth but the ascending impulse remains in force. The cryptocurrency is generally trading near $16,000 USD.
KuCoin has restored full access to 176 tokens out of a total of 230 tradable ones and hopes to resume service for others before November 22.
Dalio says that Bitcoin’s volatile nature leaves it with fewer use cases as a medium of exchange. He added that he would prefer Gold over Bitcoin.
The new Bitfinex Borrow platform will allow users to get access to peer-to-peer lending and borrowing by putting their Bitcoin (BTC) and Ethereum (ETH) holdings as collateral.
China Construction Bank clarified that it doesn’t work with Bitcoin or any other cryptocurrency. However, it will accept bond deposits made in Bitcoin.
Although the increased volatility indicates a possible rise in Bitcoin market price, the fear and greed index pushed above 90 on the scale of 0-100 last week.
Binance, as well as a handful of non-US exchanges, has continued to come under the regulatory oversight of US regulators.
Ripple CEO Brad Garlinghouse believes that Joe Biden will take climate change issues seriously.
Stanley Druckenmiller is betting on Bitcoin against the dollar that has been depreciating in value ever since the coronavirus outbreak.
Catherine Coley said that Binance.US has successfully integrated its API with SEN and conducted tests with some of its clients.
Amber Group is reported to have a daily trading volume of between $100 to $200 million.