Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
BTC Correlation to the S&P 500 Hitting 17-Month High
The debate over bitcoin's value as a digital gold safe haven asset or a risky investment is heating up. As BTC's sensitivity to stock markets increases, concerns that the Federal Reserve's aggressive tightening plans may tip the U.S. economy into recession rise. Christine Lee breaks down the Chart of the Day.
Bitcoin Volatility Could Rise Despite Low Volume
CoinDesk Markets Reporter Damanick Dantes shares insights on BTC’s current price action, highlighting an increasing resemblance to risk asset behavior as bitcoin becomes more sensitive to equities. Plus, a conversation about the potential of volatility increase and bitcoin’s support and resistance levels.
Bitcoin Volatility Could Rise Despite Low Volume
CoinDesk Markets Reporter Damanick Dantes shares insights on BTC’s current price action, highlighting an increasing resemblance to risk asset behavior as bitcoin becomes more sensitive to equities. Plus, a conversation about the potential of volatility increase and bitcoin’s support and resistance levels.
New York State Assembly Committee Moves Forward With Bitcoin Mining Ban
The Environmental Conservation Committee of the New York State Assembly voted in favor of a bill that would ban proof-of-work (PoW) cryptocurrency mining for two years due to energy consumption concerns. “The Hash” hosts discuss the growing politicization of bitcoin and possible ways for the mining industry to respond.
Why El Salvador Postponed Its Bitcoin Bond
El Salvador’s finance minister announced that the country is postponing its $1 billion bitcoin bond offering, which reportedly aims to help fund the “Bitcoin City” project. “The Hash” team discusses El Salvador’s ongoing bitcoin experiment and the international criticism the Central American nation has received from entities like the International Monetary Fund (IMF).
Honduras’ Central Bank Debunks Bitcoin as Legal Tender Rumors
The BCH is, however, studying the feasibility of a central bank digital currency.
CME Exec Explains Why Bitcoin Futures Premiums Surge
Tim McCourt, CME Group’s global head of equity & FX Products, shares his crypto market analysis as bitcoin futures premium surges in the Chicago Mercantile Exchange. Plus, a conversation on what makes ethereum different from bitcoin in the eyes of investors.
Bitcoin Holds Support Above $40K; Initial Resistance at $46K
Buyers remain active on pullbacks, keeping support levels intact.
MiCA Could Still Be Delayed by EU Parliamentarians Over Proof-of-Work Provision
EU parliamentarians that supported the controversial provision seeking to limit proof-of-work crypto could make one last stand if the MiCA draft goes for a full parliamentary vote.
First Mover Americas: Ether Options Shed Bearish Skew for First Time in 2 Months, ETH/BTC Ratio Eyes Big Move
The latest moves in crypto markets in context for March 23, 2022.
