Bitcoin transaction fees are on the rise again. Fees shot up more than 350% during the last thirty days to Oct. 22. The most significant increase occurred in the last week, as the price of bitcoin soared on growing institutional interest.

According to data by Bitinfocharts, it cost an average of $5.75 to send a transaction over the Bitcoin blockchain on Saturday, up from around $1.8 five days earlier.

Fees peaked at $6.36 on Oct. 22, as the bitcoin (BTC) price scaled past $13,000, a 2020 high. Just over thirty days ago on Sept. 20, it cost only $1.39, on the average, to get a transaction processed via the Bitcoin network.

Over this period, transaction fees spiked 358%. A key reason for this is that inv ... Read more »

Category: News | Views: 79 | Added by: 4zvezda | Date: 27.10.2020 | Comments (0)

The country is relatively new to crypto adoption, but is building momentum quickly.

Colombia now has the largest number of Bitcoin (BTC) ATMs in Latin America. According to CoinATMRadar, Bogota, the nation's capital, has 34 ATMs, followed by Medellin with 11, and Bucaramanga and Cali with 4 each. Other cities with one ATM at least include Armenia, Barranquilla, Cartagena, Cúcuta, La Hormiga, and Pereira.

Until recently, countries such as Venezuela and Argentina were more frequently discussed as crypto hotspots in terms of regional adoption due to factors like political and economic turmoil. Colombia has taken important steps towards regulating the nation’s crypto sphere, however, with its government approving a pilot ... Read more »

Category: News | Views: 60 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

On October 23, the Microsoft-owned Github leveraged an ostensible DMCA takedown in order to remove 18 projects from the code-hosting portal. According to sources, the takedown stemmed from a request filed by the Recording Industry Association of America (RIAA). Github’s recent move has made the crypto community quite leery of the platform and some proponents are scared that cryptocurrency codebases like Bitcoin’s can be taken down by government forces.

This week the RIAA got the Microsoft-owned Github to remove a number of projects from the code-hosting portal. The code repositories removed stem from a project called the Youtube-dl protocol. The software is a Python library that allows people to download s ... Read more »

Category: News | Views: 61 | Added by: 4zvezda | Date: 27.10.2020 | Comments (0)

He believes it could happen if mainstream companies put a mere 1% of their holdings into the market.

Bitcoin (BTC) has recently seen ample interest from a number of mainstream companies and persons, such as billionaire hedge funder Paul Tudor Jones. This could be the beginning of a new wave of Bitcoin buyers, according to Brian Estes, chief investment officer and managing partner at Off The Chain Capital — an investment firm focused on blockchain and digital assets. 

"I think eventually all corporate treasuries will have a small amount of their reserves in Bitcoin," Estes told Cointelegraph in an interview. 

A growing number of companies are looking to Bitcoin as part of their treasury fund eq ... Read more »

Category: News | Views: 77 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

Reports of a fresh market entry from a Singapore bank buoys Bitcoin price as Raoul Pal sees hardly any resistance below $20,000 all-time highs.

Bitcoin (BTC) hit new highs of $13,480 on Oct. 27 as fresh news that a bank was entering the cryptocurrency space fuelled already bullish markets.

Cryptocurrency market daily overview from Coin360

Bank news drives BTC price to $13,480

Data from Cointelegraph Markets, Coin360 and TradingView showed BT ... Read more »

Category: News | Views: 69 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

News of the discovery of approximately 40 million troy ounces of gold in Russia’s Siberian region is likely to boost the profitability of the country’s biggest gold producer, while adding to the supply of the “scarce” resource. Reports say the Polyus owned the Sukhoi Log contains 540 million tonnes of ore, which translates to an average of 2.3 grams per ton. The reserves, which will account for a quarter of Russia’s gold stocks, are likely to generate $76 billion in revenues for Polyus when using current prices.

How Bitcoin Compares to Gold

Although the Sukhoi Log announcement adds to the proven reserves and stocks of gold, it is unclear how this will affect the metal’s pr ... Read more »

Category: News | Views: 71 | Added by: 4zvezda | Date: 27.10.2020 | Comments (0)

Minutes after DBS announced its foray into the cryptocurrency exchange business, Bitcoin resumed its uptrend.

Another Bitcoin Rally

The BTC/USD exchange rate added up to $411, or 3.14 percent, to set another year-to-date high just shy of $13,500. The pair corrected lower by $100 amid renewed profit-taking but left the Bitcoin market more bullish than it was at the beginning of this week.

Part of the reason was its overnight sell-off that appeared almost in sync with a similar downside move across the three Wall Street indexes: the S&P 500, the Dow Jones, and the Nasdaq Composite. But unlike its traditional peers, Bitcoin was able to move back into positive territory.

On Tuesday, traders receive more bulli ... Read more »

Category: News | Views: 53 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

The price of Bitcoin (BTC) has never been above $10,000 for as long as in the past three months. The figure shows the sheer strength of the momentum of BTC’s ongoing uptrend.

The researchers at the cryptocurrency market data firm The Tie said:

“Bitcoin has held above $10k for over 90 days (Closing basis). This is the longest period in its history. This chart visualizes the 3 longest periods above $10k. Market structure looks much strong this time around as price is breaking highs and trending upwards.”

Throughout the past two weeks, various data points have shown that miners and whales have been selling BTC.
Despite the sell-off, BTC has r ... Read more »

Category: News | Views: 63 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

The CEO of Nasdaq-listed billion-dollar company Microstrategy has made a strong bull case for bitcoin. He says there is a $250 trillion ocean of assets looking for the ideal store a value right now and bitcoin is a better store of value than gold or tech stocks, so “a lot of that monetary energy is going to flow from the asset ocean into the crypto pond.”

Comparing Bitcoin to Investing Early in Apple, Google, Facebook, Amazon

In a webcast with Hedgeye CEO Keith McCullough, aired last week, Microstrategy CEO Michael Saylor outlined a highly bullish case for bitcoin’s price. The Nasdaq-listed Microstrategy recently invested $425 million in bitcoin as its primary reserve asset.

Saylor ... Read more »

Category: News | Views: 73 | Added by: 4zvezda | Date: 27.10.2020 | Comments (0)

It could be “do or die” for altcoins as Bitcoin continue capturing serious dominance over the aggregated crypto market
Bulls have been focusing their attention fully on BTC, which has caused many altcoins to plunge throughout the past few days and weeks
Ethereum has been a leading indicator of the state of the altcoin market, and the fact that it is still trading down 20% from its yearly highs despite Bitcoin setting fresh 2020 today is a grim sign
That being said, if Ethereum can rebound in the near-term, it could catalyze some serious momentum that sends altcoins rocketing higher
Ethereum has been acting as a leading indicator for the altcoin market, and it has not been able to match the strength expresse ... Read more »

Category: News | Views: 55 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)

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: 75 | Added by: danyagames2007 | Date: 27.10.2020 | 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: 70 | Added by: danyagames2007 | Date: 27.10.2020 | 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: 67 | Added by: danyagames2007 | Date: 27.10.2020 | 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: 56 | Added by: danyagames2007 | Date: 27.10.2020 | Comments (0)