Analysts are anticipating Bitcoin’s second-largest negative difficulty adjustment of the year following the end of Sichuan’s rainy season.

Mining data aggregators attribute a slump in Bitcoin’s hash rate to the end of the wet season in Sichuan, resulting in many miners migrating to other jurisdictions.

On Oct. 26, Thomas Heller of Bitcoin (BTC) mining blog Hashr8 reported that roughly 22 exahashes per second (EH/s) of mining power had left the Bitcoin network, coinciding with the end of the season the previous day (based on weather forecasts).

Kevin Zhang of mining-focused Digital Currency Group subsidiary Foundry also estimated a 20 EH/s drop, noting the seven-day average for Bitcoin’s hashrate ... Read more »

Category: News | Views: 2 | Added by: danyagames2007 | Date: Today | Comments (0)

Bitcoin whales own almost 8M Bitcoin and do not appear to be in a hurry to sell.

The number of Bitcoin (BTC) whales reached a new all-time high amid last week's price ascension. On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. At current prices, 1,000 BTC translates to approximately $13 million.

Source: Glassnode.

Based on this data, we can surmise that the whales contro ... Read more »

Category: News | Views: 2 | Added by: danyagames2007 | Date: Today | Comments (0)

Bitcoin has seen some incredible strength throughout the past couple of weeks, with the confluence of a strong market structure and an undercurrent of positive developments both helping to drive it higher.

This strength has led it to $13,200 – which is proving to be a crucial resistance level for the cryptocurrency.

Bulls have been attempting to surmount this level for weeks now, but each break above this level has been met with significant selling pressure that slows its ascent.

If bulls continue struggling to surmount this level, bears could soon gain greater control of its near-term trend and send it spiraling lower.

Despite this being a possibility, one popular cryptocurrency analyst explained in a re ... Read more »

Category: News | Views: 2 | Added by: danyagames2007 | Date: Today | Comments (0)

Bitcoin price made another attempt to gain momentum above $13,200 against the US Dollar, but failed. BTC is likely to react to the downside if it continues to struggle near $13,200 and $13,300.

Bitcoin corrected lower below $13,000, but it found support near $12,800.
The price is back above the $13,000 zone and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $12,880 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair must gain strength above $13,200 to continue higher towards $13,500 in the near term.
 

Bitcoin Price is Lacking Momentum

Bitcoin price failed to stay above the $13,200 zone and started a downside correct ... Read more »

Category: News | Views: 2 | Added by: danyagames2007 | Date: Today | Comments (0)

The Governor of the Central Bank of Kenya told reporters the institution is "already feeling left out."

The Central Bank of Kenya, or CBK, has reportedly started discussions with international central banks to explore the possibility of entering the central bank digital currency space.

CBK governor Dr. Patrick Njoroge told reporters during Georgetown's DC Fintech week that:

"“We [the CBK] are already having discussions with other global players, in various ways, around the introduction of Central Bank Digital Currencies. The push comes as a result of mushrooming of private cryptocurrencies and we are already feeling left out and need to create our own s ... Read more »

Category: News | Views: 27 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Bitcoin has zero correlation to stocks once more and critics were wrong to doubt its safe-haven status, says the Morgan Creek Digital co-founder.

Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind.

In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of valu

Pomp on safe haven Bitcoin: “The market is proving it”

Pompliano uploaded a chart from behavior analysis platform Santiment, which showed Bitcoin hitting 0 for 30-day correlation with the S&P 500.

&ldq ... Read more »

Category: News | Views: 22 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Ripple corrected lower from $0.2640, but it found support near $0.2510 against the US Dollar. XRP price is currently rising and it seems like the bulls are aiming a fresh increase above $0.2600.

Ripple remained well bid above the $0.2500 and $0.2510 support levels against the US dollar.
The price is now trading above the $0.2550 resistance and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to continue higher if it clears the $0.2585 and $0.2590 resistance levels.

Ripple Price Holding Gains

This past week, we saw a sharp increase in ripple above ... Read more »

Category: News | Views: 10 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

As Bitcoin catches a break after exploding above $13,000 last week, it’s mid-cap rival Yearn Finance (YFI) is looking to rally higher.

The prediction comes from a pseudonymous analyst on Twitter who expects a consolidating Bitcoin to disperse a portion of its bullish sentiment across the altcoin market. YFI, an alternative investment asset to Bitcoin and thousands of its offspring cryptocurrencies, could merely benefit from the capital outflow from the king crypto market.

“[YFI is] honestly not looking so bad at the moment,” the analyst explained. “As though [the] price action is holding above $15K for now, there could be room for a further 20 percent-plus move to the upside. ... Read more »

Category: News | Views: 10 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

The upcoming expiration of $750 million in Bitcoin options, which would occur on the last Friday of the month, coincides with other important dates.

A big Bitcoin (BTC) volatility spike could occur by the month’s end as two major factors come into play. The BTC options market nears a massive $750 million expiration and the CME futures market’s open interest has also soared.

When an options expiry nears, holders of options contracts have to adjust their contracts before or right after the expiration. Often times, that could cause volatility in the price of Bitcoin.

... Read more »

Category: News | Views: 14 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Abra's CEO purportedly increased his holdings prior to Bitcoin touching new 2020 highs.

The co-founder and CEO of major cryptocurrency company Abra is clearly bullish on Bitcoin (BTC).

In an Oct. 23 tweet, Bill Barhydt, CEO of peer-to-peer payments platform Abra, claimed that he has significantly increased his Bitcoin holdings a few weeks ago. According to the CEO, Bitcoin now accounts for 50% of his total investment portfolio.

Barhydt talked about his holdings on an episode of Money Talks. In an Oct. 23 YouTube live stream, Barhydt reiterated his bullish stance on Bitcoin, claiming that “Bitcoin is the single best investment opportunity in the world right now.”

The executive said that Bitcoin&r ... Read more »

Category: News | Views: 21 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

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