Like the Olympics, the bitcoin network initiates a special event called “halving” every four years, and it is intensively followed by millions of bitcoin investors. And halvings are such a huge deal for a reason.

Namely, the bitcoin price soared by hundreds of percent a few months after each of its halving days. Naturally, it’s vital for every bitcoin investor to understand halvings and their impact on the value of bitcoin.

First, A Little Background On “Mining”

Every transaction that occurs using bitcoins gets stored on a ledger called the “blockchain.” This blockchain (or a ledger) is similar to a decentralized bank ledger that keeps track of balances and transactions.

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Category: News | Views: 191 | Added by: danyagames2007 | Date: 04.05.2021 | Comments (0)

Chart provided by data aggregator Glassnode shows that long-term holders are actively accumulating Bitcoin and are sending it to cold storage vaults.

While the flagship cryptocurrency is consolidating, Bitcoin believers and recently converted ones are buying the dip.

“Long-term hodlers grabbing Bitcoin as it’s consolidating around $55,000”
Twitter user Dylan-BTCization has shared a Glassnode chart which demonstrates that the Long-Term Holder Net Position Change indicator has turned green after a long period of staying in the red.

Now, that Bitcoin is trading sideways in a consolidation near $55,000 after dropping from the $58,000 area, financial institutions and other long-term hodlers are buy ... Read more »

Category: News | Views: 183 | Added by: danyagames2007 | Date: 04.05.2021 | Comments (0)

This increases DCG’s holdings of GBTC shares from $193.5 million, as of April 30, to roughly $750 million.

DCG clarified that the ultimate timing and size of its investment would depend on the price of the shares, the cash it had available on hand, and market conditions. There are at least three reasons why this latest buy could be extremely beneficial.

First, the arrangement appears to be in response to a growing demand for market-level cryptocurrency investments, which could prove to be lucrative for DCG. In March, Grayscale announced the launch of five new digital currency investment trusts.

Additionally in April, Grayscale disclosed $46.1 billion in assets under management (AUM) for 14 cryptocurrency-relate ... Read more »

Category: News | Views: 360 | Added by: danyagames2007 | Date: 04.05.2021 | Comments (0)

Bitcoin price soared high on Monday after Ebay announced it is planning to start accepting the most popular cryptocurrency, as it prepares to join PayPal and Mastercard in receiving the crypto as payment.

The Chief Executive Officer of the company, Jamie Iannone, said Ebay is considering exchanging goods for not only bitcoin, but other cryptocurrencies for its 182 million buyers.

The online marketplace is the latest global company to reveal its interest in joining the cryptocurrency market. Ebay will be investing indirectly by receiving cryptocurrencies for goods that were previously bought with fiat.

Iannone had told CNBC on Monday that it is also looking into non-fungible tokens (NFT) in a bid to meet cryptocurrency’s global expansion, which one of its former subsidiaries, but now a standalone company, PayPal, has ... Read more »

Category: News | Views: 192 | Added by: danyagames2007 | Date: 04.05.2021 | Comments (0)

In its latest ‘week on chain’ report, analytics provider Glassnode has been delving into the state of coin maturation to determine overall market sentiment – and it is still bullish.

It added that Bitcoin, which is better than gold according to Mark Cuban, has bounced from its fourth correction in the current cycle and hodling strengthens as coins mature.

“On-chain data for both Bitcoin and Ethereum indicate strong conviction to hold both assets remains, as coin maturation becomes increasingly evident, and network activity trends higher.”

#Bitcoin has bounced from correction lows as coins mature, HODLing strengthens and stablecoin supplies hit ATH.#Ethereum also shows market strength as throughput increases, exchanges are drained and DeFi absorbs $ETH.

Read more in The Week On-chain

BTC Hodl On
The data provider defines BTC bought more than 155 days ago as ‘long-term holder&rsquo ... Read more »

Category: News | Views: 190 | Added by: danyagames2007 | Date: 04.05.2021 | Comments (0)