Notably, between December 2020 and April 2021, bitcoin has experienced wide adoption which has led to an increase in the number of bitcoin users around the world, as well as a leap in price that has seen the foremost cryptocurrency gain over 185% in just 5 months. Thus, it makes sense that an outsider to the crypto world would be interested in the workings of bitcoin to find out how it can be beneficial to them as well. It is no longer news that bitcoin is the first cryptocurrency that attempts to solve problems with existing financial systems by offering a better alternative in terms of decentralisation, ease of use, security and low transaction costs. These particular features have made an impact on the growth of bitcoin in Africa specifi ... Read more »

Category: News | Views: 129 | Added by: danyagames2007 | Date: 21.04.2021 | Comments (0)

You’ve probably heard a fair bit about Bitcoin recently. Its eye-watering price fluctuations mean the cryptocurrency is never far from the headlines. It’s also begun to shake off the outsider reputation to gain acceptance as a legitimate alternative asset class. Morgan Stanley and Goldman Sachs are among a number of big banks now looking to offer it to their wealthy clients.

But for all that, I bet you haven’t heard much about its environmental impact. 

Bitcoin consumes a staggering amount of energy. According to the Cambridge Bitcoin Electricity Consumption Index, the entire Bitcoin network consumes more energy annually than countries such as the Netherlands, the Philippines and Switzerland. 

... Read more »
Category: News | Views: 182 | Added by: danyagames2007 | Date: 21.04.2021 | Comments (0)

Bitcoin’s price could suffer more if the asset fails to reclaim $60,000 soon, said analysts from the US multinational banking giant JPMorgan Chase & Co. They compared Sunday’s market crash with similar developments in the past few months but argued BTC lacks sufficient momentum now.

BTC’s Bull Run Coming to an End?

Bitcoin and the entire cryptocurrency ecosystem plummeted in value on Sunday as more than $360 billion were evaporated from the market cap. The largest digital asset led the charge with a massive $9,000 drop to a 3-week low of $51,500.

Although BTC has reclaimed about $4,000 since then, fears emerged if it has broken below a vital support line. Furthermore, JPMorgan strategists, led by Nikolaos Panigirtzoglou, outlined the potential adverse effects this price slump could have for the asse ... Read more »

Category: News | Views: 165 | Added by: danyagames2007 | Date: 21.04.2021 | Comments (0)

JPMorgan strategist Nikolaos Panigirtzoglou believes that Bitcoin’s rally might be coming to a close due to the cryptocurrency’s waning momentum, Bloomberg reports.

$60,000 is the key level
Panigirtzoglou is convinced that $60,000 is now the do-or-die level for Bitcoin bulls.    

The flagship coin soared to nearly $65,000 on Apr. 14, the day Coinbase had its direct listing, but then plunged spectacularly to $51,000 on Apr. 18. Nearly $10 billion worth of cryptocurrency futures got liquidated during the Sunday crash.  
 
The lead JPMorgan strategist expects momentum signals to experience a multi-month decay after the massive wipe-out: 

Over the past few days, Bitc ... Read more »

Category: News | Views: 213 | Added by: 4zvezda | Date: 21.04.2021 | Comments (0)

Bitcoin is more of an investment alternative than a currency, one of the top leaders at the People’s Bank of China has claimed. Li Bo, the deputy PBoC governor, further revealed that the apex bank is satisfied with the current digital currency regulations in China, but would seek to enforce even stricter rules for stablecoins.

Bo was speaking during the Boao Forum for Asia, a panel hosted by CNBC. The newly-appointed deputy governor revealed that the banking regulator doesn’t view BTC as a currency.

“We believe that Bitcoin and stablecoins are encrypted assets,” said Bo. “Encrypted assets are an investment option, not currency itself. It is an alternative investment, not currency itself. Therefo ... Read more »

Category: News | Views: 262 | Added by: 4zvezda | Date: 21.04.2021 | Comments (0)

The Canadian publicly traded bitcoin mining company Bitfarms has announced a deal that will see the company developing a 210 megawatt (MW) mining farm in Argentina. Bitfarms says that the company was able to secure a low electricity rate at $0.02 per kWh during the contractual period.

Argentine-Based Bitcoin Mining Facility Aims to Acquire 210 MW of Power

The company Bitfarms (TSXV:BITF, OTC:BFARF) has announced the firm is expanding to South America, as it has signed a non-binding memorandum of understanding in order to build a 210 MW bitcoin mining facility.

Bitfarms says the purchase agreement started back in October 2020 and initially the farm would be around 60 MW. However, since then the agre ... Read more »

Category: News | Views: 215 | Added by: 4zvezda | Date: 21.04.2021 | Comments (0)

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