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 Struggles to Maintain Its Dominance
Bitcoin’s dominance has fallen to 44%, which is the lowest level BTC has gotten since 2018.
Crypto Traders’ Speculation of Ethereum Volatility Relative to Bitcoin’s is Rising
Ethereum's upward momentum is making Ether and Bitcoin's implied volatility rise.
Nasdaq-Listed Metromile Backs Bitcoin for its Insurance Products
Auto insurance company Metromile is thinking of investing in Bitcoin.
Square Reaches $3.5 Billion in Bitcoin Revenue in First Quarter of 2021
Square has reported a profit of $3.51 billion in Bitcoin for the first quarter of 2021.
6 Corporate Giants Hold Bitcoin Worth More Than $11.4 Billion
Blockchain insights provider BlockData has acknowledged that six corporate giants have taken the Bitcoin holding culture a notch higher as they have BTC worth more than $11.4 billion in their custody.
New Market Entrants Caused the Recent Bitcoin Panic Selling, says Glassnode
Yann & Jan, the co-founders of on-chain metrics provider Glassnode, have noted that the recent Bitcoin price drop was triggered by new entrants in the market.
Latin America E-Commerce Giant MercadoLibre Purchases $7.8 Million Worth of Bitcoin
Mercadolibre announced a $7.8 million Bitcoin purchase, believing deeply in the cryptocurrency.
New York Seeks to Stop Bitcoin Mining For 3 Years Until Environmental Impact Assessment Done
A new bill could force crypto firms to halt their Bitcoin mining activities in New York state.
Bitcoin Needs to Flip $56.5K to Support Level to Retest $60,000, says Market Analyst
Market analyst Michael van de Poppe believes that Bitcoin will have to flip the $56.5K resistance level to support if the cryptocurrency wishes to retest $60,000.
Berkshire Hathaway Vice Chairman says Bitcoin Is Disgusting
Charlie Munger speaks ill of Bitcoin, coming off as the latest billionaire to criticize the cryptocurrency amid its ongoing bull run.
