Bitcoin

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Bitcoin Market Update: Traders Question Whether There’s a Breakout or Breakdown Looming

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As of Oct. 22, 2024, bitcoin (BTC) is priced at $67,058.95, fluctuating within a 24-hour range of $66,669 to $68,268. With a market cap of $1.32 trillion and a daily trading volume hitting $44.03 billion, the digital currency appears to be in a consolidation phase, according to technical indicators. These indicators suggest that while things … Read more

Bitcoin Self-Custody Calls Intensify as Centralization Grows: ‘No One Is Ready for the Biggest Hack in History’

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With self-custody and third-party custodians becoming hot topics within the crypto community, the founder of timechainindex.com, an X user known as Sani, recently posted an eye-opening image of onchain data. The snapshot revealed that Coinbase currently holds 11.72% of the total 19.77 million bitcoin (BTC) in circulation. Sani’s data and insights emphasize the risks tied … Read more

Over 700 Exahash—Bitcoin’s Hashrate Shatters All-Time Records

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Bitcoin’s network hashrate has hit a groundbreaking peak of 725.88 exahash per second (EH/s) for the very first time in its history. Imagine this: 725 quintillion hashes are being crunched every second to secure the network. That’s an astronomical number! Over the past year, from Oct. 20, 2023, to now, the network’s computational strength has … Read more

9 AI Chatbots Forecast Bitcoin’s Price Under Trump vs. Harris—Here’s What They See

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On Oct. 20, 2024, bitcoin’s price broke past the $69,000 mark, leaving many in the market eager to see what’s next. With the 2024 U.S. elections approaching, bitcoin (BTC) prices could swing unpredictably, given the speculation surrounding the face-off between Donald Trump and Kamala Harris. As prices continue to rise, we gathered several generative artificial … Read more

A New Fed Working Paper Aims to Rein in Bitcoin With Taxes or Prohibition—Here’s Why It’s Flawed

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In a working paper, Amol Amol and Erzo G.J. Luttmer from the Federal Reserve Bank of Minneapolis argue that prohibiting bitcoin or imposing specific taxes could help governments implement permanent primary deficits effectively. Their research explores the impact of bitcoin on fiscal policies and offers potential solutions. The Case Against Bitcoin: The Minneapolis Federal Reserve’s … Read more