BITCOIN
Bitcoin (BTC) is the world’s first open-source, peer-to-peer cryptocurrency developed by a pseudonymous person or group of people under the name of Satoshi Nakamoto in 2008. The identity of Satoshi Nakamoto remains a mystery. The crypto is run on distributed ledger technology, also known as blockchain. Bitcoin allows for lower transaction fees than traditional online payment systems, and is decentralized, unlike government-backed currencies. Bitcoin is the world’s largest cryptocurrency by market capitalization and has a limit of 21 million coins. The cryptocurrency uses a proof-of-work protocol to enable security, privacy, and legitimacy of monetary transactions. The issuance of Bitcoin requires mining, where programmers solve a difficult cryptographic puzzle to be able to mine Bitcoin, which earns them a reward. Bitcoin remains the most popular cryptocurrencies, all other cryptocurrencies are known as altcoins. Please see below for Bitcoin news, Bitcoin (BTC) price analyses, and more.
Bitcoin Experiences Worst Selloff since May as BTC Trades below 200-Day Moving Average
Despite holding above the psychological price of $50K over the Christmas weekend, Bitcoin (BTC) experienced significant liquidation that drove the price downwards.
Bitcoin Continues to Circulate in a Semi-Bullish Territory
Bitcoin is still in a semi-bullish area, given that circulation continues to be steady, according to on-chain metrics provider Santiment.
Is Bitcoin on the Verge of Forming the Bottom?
The Long-Term Holder NUPL (LTH-NUPL) indicator shows Bitcoin’s bottom is forming since it is at the same level as the past two significant pullbacks of 2021.
Only 1% of Bitcoin Holders Controls 27% of Total Circulating Supply, Study Shows
A new study shows that only about 10,000 Bitcoin (BTC) holders own as much as 5 million of the total 18.9 million BTC in circulation.
Is the Narrative about Bitcoin’s 4-Year Halving Cycle Diminishing?
With Bitcoin’s current return of approximately 456% since the third halving event in May 2020, this is a notable underachievement compared to the two previous cycles, which had recorded 1,355% and 4,974% respectively at this point in time.
Is Bitcoin Getting Ready for a Breakout?
There seems to be light at the end of the tunnel for a breakout in the Bitcoin market because the multi-month downtrend witnessed on the momentum indicator has broken out to the upside.
Retail Investment Slips as New Bitcoin Addresses Drop
Retail investment in the Bitcoin (BTC) market seems to have dried up based on the drop in new addresses.
90% of Total Supply of Bitcoins Mined, Robust Supply Shock Might be Inevitable
With a 21 million cap, 90% of Bitcoin’s total supply has already been mined, given that the coins in circulation stand at 18.89 million.
Bitcoin Needs to Reclaim $53,000 before a Bull Run to be Reignited
With the price staying below the short-term holder (STH) cost basis for nearly a week, on-chain analyst Will Clemente believes that Bitcoin needs to reclaim the $53K area if a bull run is to be reignited.
Bitcoin Hashrate Has Almost Completely Recovered after Dropped by 93%
Bitcoin miners have been on the right footing after relocating other areas like the United States, Kazakhstan, and Iraq because the hashrate has nearly fully recovered based on a 93% surge.
