Echoes of June appear among miners, but the future could likewise produce a price rebound if history repeats itself.

Bitcoin (BTC) could see further downward price pressure this week as network difficulty is set to drop the most in five months.

Data from data resource BTC.com estimates that difficulty will drop by 8.3% at the next automatic readjustment in four days’ time.

Difficulty set to repeat June readjustment

The mining difficulty is an essential measure of the competition among miners in finding block subsidies, and by extension, the overall health of the mining sector.

Automatic readjustments meanwhile fulfill an even more important function, allowing Bitcoin to sustain itself regardless ... Read more »

Category: News | Views: 52 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

The CEO tweeted a screenshot of an apparent $100 purchase of Bitcoin using the service well ahead of its official rollout date.

There has been significant excitement in the industry since PayPal last week announced its intention to enter the cryptocurrency market. The rollout of its new crypto services — enabling both crypto payments and direct, in-app purchases of crypto — has been officially set for early 2021.

Yet on Oct. 28, the co-founder and CEO of crypto payments firm Circle, Jeremy Allaire, claimed to have used the PayPal app to buy $100 worth of Bitcoin (BTC), tweeting a screenshot of the apparent transaction.

Allaire did not clarify how he had accessed the service prior to its official rollout, no ... Read more »

Category: News | Views: 53 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

Gold sinks to yearly lows against Bitcoin but Peter Schiff remains convinced that the former's price gains are ill-gotten.

Bitcoin (BTC) hit seven ounces of gold for the first time in over a year this week as the precious metal comes off all-time highs.

Data from CoinGecko showed BTC/XAU returning to the pivotal 7 ounce mark on Oct. 25, continuing to edge up to press-time levels of 7.02 ounces.

Gold hits one-year lows in BTC

Despite Bitcoin losing ground after challenging $14,000, the gains against gold remained on Thursday, as the traditional safe haven felt the pressure of Coronavirus tensions and U.S. election uncertainty.

The last time that BTC/XAU broke 7 ounces was in September 2019.

... Read more »

Category: News | Views: 47 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

Bitcoin price is down over $500 from the $13,850 swing high against the US Dollar. BTC is showing bearish signs and it could even decline below the $13,000 support.

Bitcoin failed to stay above the $13,500 support and declined below $13,200.
The price is currently consolidating near $13,200 and the 100 hourly simple moving average.
There is a key contracting triangle forming with support near $13,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to resume its decline below $13,200 and $13,100 in the near term.

Bitcoin Price Starts Downside Correction

Bitcoin price traded to a new monthly high at $13,850 before starting a major downside correction. BTC broke the ... Read more »

Category: News | Views: 54 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

The debit card was made possible thanks to an alliance with a Spanish neobank

Bitcoin (BTC) P2P marketplace Paxful has partnered with Spanish neobank Bnext to launch its first crypto debit card in Mexico.

The partnership will allow Paxful’s Mexican customers to use their crypto funds to pay with a debit card in any national and foreign point-of-sale, or PoS, and even withdraw cash from ATMs without fees.

Bnext customers will also have direct access to the P2P marketplace to buy and sell crypto. Paxful explained in the announcement that “strict banking regulations” in Mexico are encouraging people to focus on cryptocurrencies, and quoted figures from crypto exchange Bitso that revealed a growth of 342% ... Read more »

Category: News | Views: 64 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

$450 million in Bitcoin futures are set to expire on Friday and data shows bullish pro traders are prepared to defend $13K.

A total of 62K Bitcoin (BTC) options are set to expire this Friday, and this is equivalent to $830 million in open interest. These massive numbers fail to reflect the fact that 58% of these options are now deemed worthless.

As we approach the expiry date, call (buy) options above the current level begin to depreciate very fast. It is not worth paying $20 for the opportunity to buy BTC at $14.5K on Friday morning. Therefore, rolling options to the next month is not that helpful.

... Read more »

Category: News | Views: 50 | Added by: danyagames2007 | Date: 29.10.2020 | Comments (0)

Libertyx has added a cash-out option to its 5,000 bitcoin ATMs. The CEO says this addition triples the number of bitcoin ATMs that allow users to cash out their bitcoin. He shares his business model with news.Bitcoin.com, providing insight into the bitcoin ATM usage trends he is seeing.

5,000 Bitcoin ATMs Now With Cash-Out Option

Bitcoin ATM operator Libertyx announced Monday that 5,000 ATMs in its network now allow users to cash out their bitcoin. Besides the vast network of bitcoin ATMs (BTMs) in the U.S., Libertyx allows customers to buy bitcoin at 20,000 convenient stores, including 7-Eleven, CVS, and Rite Aid.

“While it’s never been easier to buy bitcoin, selling is another story,&rd ... Read more »

Category: News | Views: 45 | Added by: 4zvezda | Date: 29.10.2020 | Comments (0)