Chinese journalist Colin Wu, who covers major news on cryptocurrencies and blockchain in China and other Asian countries, has just opined that the Bitcoin hashrate is likely to remain low compared to its all-time high reached in May.

Bitcoin hashrate prints massive drop
The historic peak of 171 EH/s was hit on May 13 and since then Bitcoin hashrate has tanked by over 50 percent.

The drop occurred after Chinese authorities started to ban crypto miners in various provinces: Sichuan, Xinjiang (the two biggest crypto mining hubs) and others too.

Miners from China have started exodus to friendlier countries, such as Canada and US, Kazakhstan. However, Wu believes it will be hard to reach the previous BTC hashrate pe ... Read more »

Category: News | Views: 126 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

Paraguay is in no hurry to make bitcoin a legal tender as previously thought. 

Lawmaker Carlos Rejala, who had inadvertently sparked the excitement with a tweet  earlier in June, confirmed on Friday that he was pushing a bill to regulate cryptocurrencies, not make them legal tender.

For days, crypto currency supporters had wondered if Paraguay will become the second country in the world after another Latin American neighbour - El Salvador - announced that bitcoin can be used as money. 

The internet has been buzzing with rumors that Asuncion will follow suit. 

But centrist legislator Rejala said, "It is a bill of digital assets and it differs from that of El Salvador because they are t ... Read more »

Category: News | Views: 207 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

During the week, Bitcoin plunged below $30k for the first time in several months. The leading cryptocurrency quickly recovered to the $34k region. According to Guggenheim CIO Scott Minerd, Bitcoin bulls should not celebrate just yet as $10,000 would be the digital asset’s “real bottom.”

Minerd aired his views during an appearance on CNBC on Friday. His current uber-bearish target is reportedly based on the current technical picture. However, he admits that his target is a bit “extreme,” and the bulls should expect a more conservative price call of $15,000.

The real bottom, when you look at the technicals, $10,000 would be the real bottom. You know, that's probably a little extreme, so I woul ... Read more »

Category: News | Views: 149 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

Bitcoin, Ethereum and the wider market have taken a big hit in the past 24 hours. The two biggest cryptocurrencies are down 7.6% and 8% respectively in the past day. Could it be related to the $3.8 billion (at today’s prices) in options contracts that just expired? 

Well, yes and no, according to experts. 

Bitcoin and Ethereum options are derivatives contracts that provide buyers with the right—not the obligation—to buy the assets at a certain price in the future. When options are set to expire, the market can become volatile. This is because would-be traders will either continue to hold or dump their potential crypto buys.

Buy Bitcoin
On the last Friday of May, a load of options exp ... Read more »

Category: News | Views: 141 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

Bitcoin may have further room to fall after its recent 50% decline, according to Guggenheim's chief investment officer Scott Minerd.
In an interview with CNBC on Friday, Minerd outlined where he sees bitcoin ultimately finding support amid its volatile selloff: $15,000, which represents potential downside of about 55% from current levels.
"The real bottom, when you look at the technicals, $10,000 would be the real bottom, you know, that's probably a little extreme, so I would say $15,000," Minerd explained. That $15,000 target is 25% below what some technical analysts view as a likely support level for bitcoin of $20,000.
Minerd said one underlying driver of bitcoin's explosive move higher in the past ... Read more »

Category: News | Views: 142 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

Bitcoin experienced another weekend wobble on Saturday, as the world's biggest cryptocurrency plunged more than 8 per cent in early trading.

The market capitalisation of the world's biggest cryptocurrency, which had soared above $1 trillion in April, fell below $600 billion as the Bitcoin price dropped to $31,336.75 at 8.26am UAE time on the Luxembourg-based Bitstamp exchange.

Most other cryptocurrencies witnessed similar declines, with Ether also dropping more than 8 per cent to $1,821.92.

On Friday, reports emerged of the disappearance of billions of dollars worth of Bitcoin from Africrypt, a South African-based cryptocurrency-based investment firm.

3IQ's Bitcoin Fund lists on Nasdaq Dubai

... Read more »
Category: News | Views: 141 | Added by: danyagames2007 | Date: 26.06.2021 | Comments (0)

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