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The American libertarian, economist and financial commentator Peter Schiff has been criticizing bitcoin for years, as he believes “bitcoin has no real value.” However, on Thursday Schiff asked the crypto community to give some bitcoin to his 18-year old son Spencer for his birthday and explained that his son “won’t lose his” wallet.

The Bitcoin community is well acquainted with Peter Schiff the economist and gold bug who has been knocking bitcoin for years. Every few days, Schiff has something to say about the cryptocurrency and it’s never anything positive.

Schiff’s Wiki says that “at times, [Peter Schiff] has remarked that he sees Bitcoin not as an alter ... Read more »

Category: News | Views: 494 | Added by: danyagames2007 | Date: 30.08.2020

The number of Bitcoin whales has hit a new all-time high, signalling that BTC is still in an accumulation phase.

In recent weeks, the number of Bitcoin (BTC) addresses holding over 1,000 BTC — often referred to as “whales” — rapidly increased to around 2,088. This trend started shortly after Bitcoin price crashed to $3,600 in March.

The data is relevant because historical data suggests that aggressive accumulation by large investors is typically a sign of a new bull cycle.

Throughout the past six years, Bitcoin has seen periods of inverse correlation between whale accumulation phases and BTC price. Whenever the number of addresses holding substantial amounts of BTC dropped off, the price of BTC ... Read more »

Category: Analytics | Views: 202 | Added by: boss | Date: 26.08.2020 | Comments (0)

Three key macro factors raise the probability of a prolonged Bitcoin bull market, but a short term correction is very likely.

The price of Bitcoin (BTC) has increased by nearly 30% since late June, from $8,905 to just under $11,500 as of press time. Following the strong rally of the dominant cryptocurrency, three macro factors point at an optimistic medium-term trend. These macro factors hint at a positive medium-term to long-term price cycle but suggest that in the near term, momentum will fade and a consolidation phase will happen.

As Cathy Wood, CEO of Ark Invest, discussed on the In the Know podcast, there is technically little resistance between $13,000 and BTC’s all-time high of $20,000. Wood noted that BTC might s ... Read more »

Category: Analytics | Views: 269 | Added by: boss | Date: 26.08.2020 | Comments (0)

Bitmain Technologies Inc. said Monday that Nasdaq-listed Riot Blockchain is buying 8,000 of its Antminer S19 Pro bitcoin miners in a deal worth $17.7 million.

In a blog post, the Chinese crypto mining hardware maker stated that the machines will be delivered in batches of 2,000 over four straight months starting January 2021.

“We are glad to continue and expand our cooperation with Riot. Riot is a long-term friend of ours, and we have witnessed and assisted them in building up a powerful mining operation in North America,” said Irene Gao, Bitmain’s Antminer sales director of NCSA Region.

“We believe this new purchase help will Riot expand a leading position in the market and ful ... Read more »

Category: News | Views: 182 | Added by: boss | Date: 26.08.2020 | Comments (0)

Bitcoin mining hardware maker Bitmain still has a “minuscule lead” over competitor Microbt despite the former’s ongoing power struggle and supply chain issues, according to Bitmex.

Researchers at the derivatives exchange tested flagship products from the two companies, Bitmain’s Antminer S19 Pro and Microbt’s Whatsminer M30S+.

Over a three-day period, the team measured various performance metrics such as energy efficiency, hashrate, temperature, sound, and “even the airflow speed from the main outlet.”

It concluded that the Antminer machine, though priced higher, is more energy-efficient, achieving 29.7 joules per terahash (J/TH), compared with the Whatsminer&r ... Read more »

Category: News | Views: 266 | Added by: boss | Date: 22.08.2020 | Comments (0)

On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks.

Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of value. Butterfill’s report notes that BTC is “less correlated to the economic cycle” and the crypto asset is uncorrelated to other asset classes in the investment world.

... Read more »

Category: Analytics | Views: 337 | Added by: boss | Date: 22.08.2020 | Comments (0)

The price of Bitcoin may be entering an uncertain phase, as on-chain data says BTC traders have established $10,000 as a strong support level

The price of Bitcoin (BTC) has increased by 28% in the last 30 days and 36% at the weekly peak. Following the top cryptocurrency’s first breakout above $12,000 since September 2019, the sentiment remains optimistic. Many fundamental factors point toward an extended Bitcoin uptrend over the long run. Bitcoin has a favorable macro backdrop with the decline of the United States dollar and the rising demand for gold. The premier cryptocurrency has continuously rallied with the U.S. stock market and gold, demonstrating a consistent increase in appetite for BTC.

Bitcoin also has strong t ... Read more »

Category: News | Views: 294 | Added by: boss | Date: 21.08.2020 | Comments (0)

Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with bitcoin. Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy bitcoin at $50,000.

Buffett Changes His Mind About Gold, Bitcoin Could Follow

Billionaire investor Warren Buffett had always held a negative view on gold as an investment. He previously said repeatedly that he preferred to buy shares of good companies instead of any gold investments. That has changed, however.

Buffett’s company Berkshire Hathaway revealed Friday that it had dumped bank stocks and took a position in a gold miner. The price of gold recently spiked ... Read more »

Category: News | Views: 272 | Added by: boss | Date: 21.08.2020 | Comments (0)

Grayscale notes that long term holders are increasingly dominating the Bitcoin markets over short-term speculators, driving demand relative to supply

A new report by crypto fund manager Grayscale Investments argues that the current Bitcoin (BTC) market structure “parallels that of early 2016 before it began its historic bull run.”

Grayscale predicts that demand for Bitcoin will significantly grow as inflation accelerates, highlighting the need for a scarce monetary commodity, bolstering the use-case of the cryptocurrency.

The report identifies several on-chain indicators showing growing interest in crypto, noting an increase in long-term holding over short-term speculation, ... Read more »

Category: News | Views: 324 | Added by: boss | Date: 21.08.2020 | Comments (0)

The researchers and analysts from Tokeninsight published it’s “2020 Q2 Cryptocurrency Mining Industry Report” which shows the industry has grown exponentially during the last six months. The findings indicate cryptocurrency mining has expanded a great deal but China’s bitcoin mines “suffered a great impact” in H1.

Tokeninsight published its “2020 Q2 Cryptocurrency Mining Industry Report” and the study shows a lot has happened in the bitcoin mining industry during the first half of 2020.

The new research paper discusses a number of topics that affected the bitcoin mining industry this year and the countries that are welcoming these operations. For instance, Tokeni ... Read more »

Category: Analytics | Views: 203 | Added by: boss | Date: 20.08.2020 | Comments (0)

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