Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

Bitcoin (BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday. As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment […]

Bitcoin Just Surged to $6,500 After Over 10% Weekend Crash

In the past 20 minutes, Bitcoin has traded above $6,500, marking a rapid 12% gain from the $5,800 bottom seen on Sunday evening (UTC). Due to this move, the BitMEX funding rate on the Bitcoin (XBT) contract surged by 990%, according to data from Joe McCann, a cryptocurrency trader and AI/cloud specialist at Microsoft. According […]

Bitcoin Poised for Continued Downside as Bulls Struggle to Surmount Critical Level

Bitcoin’s decline to lows of $5,800 overnight was met with significant buying pressure that subsequently allowed the cryptocurrency to climb higher, with BTC bulls now attempting to reclaim the crypto’s previous position within the upper-$6,000 region. This early morning rebound came about after a short bout of intense selling pressure, and buyer’s ability to absorb […]

HIVE Blockchain Acquires Bitcoin Mining Facility for $2.8M

HIVE Blockchain Technologies, a Canadian publicly-traded ether (ETH) mining firm, has announced on March 30 the acquisition of a dedicated cryptocurrency mining operation with access to 30 megawatts of low-cost green power. The transaction was valued at CAD $4 million (USD $2.8 M). The facility, leased by Cryptologic Corp, is located in Lachute, Quebec. The […]

Fake Trading Volumes and the Price of Bitcoin: Are They Connected?

Last year, Bitwise Asset Management reported to the United States Securities and Exchange Commission that 95% of trading volume in Bitcoin (BTC) was fake. Bitwise found that, according to data published by CoinMarketCap — a widely cited tracker of crypto statistics — Bitcoin’s approximate average daily volume in April 2019 was $10 billion. In comparison, […]

How the Dow’s Fractal of Doom Could Take Bitcoin to $1,000

Throughout 2020 thus far, Bitcoin has been showing a tight correlation with major stock indexes like the Dow Jones and the S&P 500. If this continues, and a “fractal of doom” plays out on the Dow Jones, it could spell complete and utter disaster for Bitcoin and the rest of the crypto market as well, […]

The Law Is Coming for Bitcoin, Warns Satoshi Claimant Craig Wright

The man who claims to be Satoshi Nakamoto says 2020 is the year the law comes for Bitcoin. Writing on his personal blog, Craig Wright offered a view of Bitcoin’s future which doesn’t bode well for operators of Bitcoin’s Lightning Network, or the coin’s miners. One of Bitcoin’s biggest attractions is its supposedly permissionless, authority-resistant […]

Ethereum is Nearing a Make or Break Level; Rejection Here Could Be Dire

After facing an intense selloff yesterday that led Bitcoin, Ethereum, and virtually all other major altcoins to post some intense losses, the aggregated market has been able to recover slightly today, being led higher by BTC. This upwards momentum has led ETH to rapidly approach a key resistance level that bulls may struggle to surmount […]

Crypto Market Reaches Longest Stretch of Extreme Fear In Over A Year

Bitcoin and the rest of the crypto market has since staged a strong recovery following the massive, record-breaking crash caused by coronavirus fears spilling into financial markets earlier this month. But despite crypto prices continuing to climb, the Fear and Greed Index shows that sentiment is still in the gutter. In fact, the sentiment measuring […]