Just nine weeks ago, the crypto market fell off the face of a cliff. Within 24 hours, from the peak to trough, the price of Bitcoin fell by more than 50% from ~$7,600 to $3,700. It was a move caused by a global liquidation event in all markets, triggered by a run for cash to…
DetailsTen years ago yesterday, programmer Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas in a trade that took place publicly on the Bitcoin Talk forum. Bitcoin Pizza ad from 2010 | Source: BitcoinTalk.org At the time, the transaction was largely laughed at — who would want some worthless internet coins for two steaming…
DetailsAfter plunging as low as $8,800 on Thursday, Bitcoin has mounted a slight recovery to $9,300, bouncing back from this week’s shell-shock rumor that Satoshi Nakamoto is liquidating his coins. While it’s too soon to tell whether or not BTC is in a full-blown bull market, a prominent trader says that Bitcoin capturing a specific…
DetailsEthereum has been able to maintain its position above $200 despite facing some intense selling pressure earlier this week. The cryptocurrency is now attempting to generate some upwards momentum as it fast approaches a key resistance level. Traders do anticipate this level to be surmounted in the days ahead, as its technical outlook has been…
DetailsBitcoin saw a 6% negative mining difficulty adjustment this week, which ensures that the cryptocurrency will continue mining blocks every ten minutes. This indicates that the cryptocurrency is rapidly seeing a reduction in the number of miners vying to validate transactions, suggesting that the implications of the recent mining rewards halving event are starting to…
DetailsAnother week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week. After rallying towards $10,000 at the start of the week on the back of post-halving buying, seemingly caused by both retail and institutional players, Bitcoin plunged to $8,800 over the course of two days. Altcoins posted similar losses, with some underperforming the…
DetailsOne key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action. BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action. Because the network is still being heavily utilized by investors,…
DetailsBitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline. It now appears that the crypto could be gearing up for a massive movement in the days and week…
DetailsChainlink has been the superstar standout altcoin of the crypto market for the last two years running. And while the 11th ranked crypto asset has outperformed nearly everything else in the space, its momentum may soon come to a screeching halt as an accurate sell signal has triggered on the altcoin’s daily price charts. Remembering…
DetailsBitcoin mining hardware manufacturer Canaan has recorded a net loss of $5.6 million in Q1 2020, despite seeing a huge increase in profits. According to the company’s newly released financial report, its gross profit increased by 417% from Q1 2019, while total net revenues increased by 44%. Unaudited Report Shows Canaan Suffered Huge Losses in…
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