Author: Maria
The Bitcoin hashrate recently hit a new all-time high amid a price rebound for the flagship crypto. This development is significant considering what it means for the Bitcoin ecosystem and how it could impact prices going forward. Bitcoin Hashrate Hits Record Highs Data from the Hashrate Index shows that BTC hit a new all-time high network hashrate of 677 EH/s on July 26, surpassing its previous high of 656 EH/s recorded on May 27. This is based on data from the seven-day SMA (Simple Moving Average), which miners consider the most accurate estimate. Source: Hashrate Index However, the 3-day SMA…
On Friday, US Sen. Tim Scott, the top Republican from South Carolina who is a member of the Senate Banking Committee, was among keynote speakers at the Bitcoin 2024 conference. Scott, who might chair the committee if Republicans regain control of the Senate, gave a strong message: the government should support the crypto industry. “We have to get rid of the guys who are in the way,” Scott said, referring especially to Securities and Exchange Commission (SEC) Chair Gary Gensler as a main impediment to crypto innovation. Speaking with fellow crypto enthusiast US Sen. Cynthia Lummis (R-Wyo.), Scott’s comments connected…
Many Mt. Gox creditors have finally been repaid their Bitcoin (BTC) after a decade of waiting. News reports have shown many creditors have been repaid through the US-based crypto exchange Kraken. As expected, the news of more BTC potentially flooding the market has led to concerns about its effects on the price of Bitcoin. Analysts and investors alike have expressed concerns that the influx of Bitcoin into the market could result in increased selling pressure, potentially driving down the price of the cryptocurrency. However, data reports have shown many of the repaid creditors are opting to hold their assets rather…
The Spot Ethereum ETFs haven’t exactly gotten off to the perfect start, with these funds experiencing mixed flows in their first three days of trading. Crypto research firm 10x Research has provided some answers as to why institutional investors aren’t so enthusiastic about these funds. Wall Street Doesn’t Fully Understand What ETH Is About 10x Research suggested in a recent report that institutional investors haven’t warmly received the Spot Ethereum ETFs because they don’t fully understand what it is about. The report, written by Markus Thielen, noted that these Wall Street investors “usually don’t place bets on things they don’t…
Crypto analyst Mikybull Crypto has revealed the return of a technical indicator that represents a buy signal for Bitcoin. Based on his predictions, the flagship crypto could enjoy a massive rally that could eventually send its price as high as $130,000. Bitcoin Witnesses “Rare” Buy Signal Mikybull Crypto revealed in an X (formerly Twitter) post that Bitcoin had just witnessed a rare hash ribbon buy signal. The analyst added that “an explosive rally” follows whenever this happens. Indeed, this is bullish for BTC as the hash ribbon flashing a buy signal suggests that miners’ capitulation might be done or at…
A crypto analyst has meticulously outlined a detailed list of key levels and optimal entry points for investors to buy and sell Bitcoin (BTC) for potential profits. Key Levels To Watch Out For In BTC’s Price Action A crypto analyst identified as ‘Scient’ took to X (formerly Twitter) on July 22 to discuss several key levels for buying and selling of Bitcoin. The analyst provided an in-depth analysis on crucial zones to watch out for in BTC’s price action, highlighting the importance of this analysis to current BTC owners and sideliners. Sharing a detailed chart marking Bitcoin’s key zones whilst…
Popular crypto analyst and enthusiast, Doctor Profit has boldly predicted that Ethereum would see a huge parabolic move following the spot ETH ETFs launch before the year closes, which has garnered the interest of the cryptocurrency space. Ethereum Poised Major Price Rally Post-Spot ETH ETFs In the post on the X (formerly Twitter) platform, Doctor Profit highlighted that all eyes are now focused on Ethereum, the shining bull, which is something he previously predicted over the years. Now, with the spot ETH ETFs launch, the expert believes the crypto asset is finally ready to dominate the crypto market as he…
So far in July, the Bitcoin price has shown positive movement, emerging from the bearish trend of June and rising to new monthly highs. While this increase has been encouraging, it still leaves doubt in the hearts of investors, as the BTC price remains below $70,000. With the month drawing close to a rapid end, the question remains if the Bitcoin price will finish out this month in the green or if it will succumb to the bears once again. How Bitcoin Price Has Performed Historically Historical data can often be useful for investors when it comes to volatile assets…
As excitement regarding the launch of the much-anticipated Ethereum Spot Exchange-Traded Funds (ETFs) brews, asset management company, Bitwise, in a groundbreaking move for the crypto industry is set to donate a portion of its profits from its ETH spot ETF to Ethereum open-source developers. This move by Bitwise demonstrates the broader understanding of the value of supporting open-source initiatives that encourage and develop blockchain technology. Bitwise’s Ethereum Spot ETF Profits Goes To Open Source Developers The asset management firm Bitwise disclosed its plans to support open-source developers with part of the profits, particularly 10% from its Ethereum spot ETF under…
There have been many discussions and opinions about how much the Spot Ethereum ETFs will affect the ETH price. Crypto analyst and trader Raman has also joined the conversation and revealed how these funds provide upside catalysts for Ethereum. How The Spot Ethereum ETFs Provide A Bullish Setup For ETH Price While alluding to the Spot Ethereum ETFs, Raman claimed in an X (formerly Twitter) post that the second half of this year will be the “most obvious bullish setup for the Ethereum ecosystem in recent history.” First, he stated that the Ethereum ETFs will unlock new capital into the…