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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
El Salvador Wants to Build ‘Bitcoin City’ With Major Tax Incentives
El Salvador, the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value. “Bitcoin City” will have no income, property, capital gains or payroll taxes.
Is There a Bullish Breakout Ahead for Bitcoin?
Needham & Co. Vice President John Todaro discusses his positive assessment of the crypto markets despite continuing to see red over the past week. “We’re still in a bullish macro set up here for bitcoin and cryptocurrencies more broadly,” Todaro said. “We do have around $100K bitcoin [price target] in Q1 2022.”
Bitcoin Still Trading in Bullish Channel Despite Price Support Break
New data reveals bitcoin’s broader outlook remains constructive despite the recent pullback. The largest cryptocurrency by market cap fell below its support level of $57,653, the Oct. 23 low, which has paved the way for a deeper pullback. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Jury Deliberations Begin in Kleiman v. Wright Trial
The 10 jurors now must decide whether Craig Wright had a partnership with the late Dave Kleiman and if so what Kleiman’s share of the entity’s assets is worth.
First Mover Asia: Bitcoin Edges Toward $58K; Altcoins Recover From 7-Day Lows
The dominance of the largest cryptocurrency by market capitalization dipped to 42%, far off its October high.
Market Wrap: Altcoins Outperform as Bitcoin Stabilizes
The rise in altcoins suggests a greater appetite for risk among traders.
Bitcoin Should Not Be Legal Tender in El Salvador: IMF
The financial institution said the Central American country’s plans to acquire more bitcoin will require a “very careful analysis” of implications for its financial stability.
Bitcoin Holds Support at $56K, Resistance at $60K-$63K
Momentum is improving as oversold readings appear on the chart.
