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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
Bitwise Withdraws Bitcoin Futures ETF Filing, Citing Cost, Complexity
Bitwise Asset Management has withdrawn the application for its Bitcoin futures ETF, citing what it said are the cost and complexity of such ETFs. The company will instead focus its efforts on its spot bitcoin ETF filing already in the pipeline. "The Hash" squad discusses the story and what it reveals about the pros and cons of investing in ETFs.
Bitcoin Could Find Support at $56K-$60K
Upside momentum is starting to slow, especially given recent overbought signals on the charts.
Investing in Bitcoin Directly May Be Better Bet Than Coinbase: Mizuho
The crypto exchange could face industry headwinds amid the wider adoption of cryptocurrency, Mizuho told clients.
Bitcoin Retreats From All-Time High, Ether Follows
Bitcoin is down 5% in the last 24 hours after peaking at an all-time high of around $68,950 Wednesday. Ether also reached an all-time high Wednesday, hitting $4,851, but is down a little over 2% on the day. Rich Rosenblum, co-founder and president of GSR Markets, discusses the potential factors driving lower prices.
Bitcoin Jumps to New All-Time High as Inflation Spikes to 6.2% in October
Bond traders are increasing their bets on faster inflation after the U.S. consumer price index jumped 6.2% in the 12 months through October, the highest rate in three decades. Still “transitory?”
Bitcoin Pulls Back From All-Time High, Support Between $63K-$65K
Intraday charts are showing initial signs of upside exhaustion.
Why Rising Inflation Could Be Good for Bitcoin
Bitcoin rises to a fresh all-time high after the U.S. Bureau of Labor Statistics releases the October consumer price index (CPI) number, the highest since 1990. CoinDesk's Galen Moore discusses why the inflation increase "would be good for bitcoin," adding "[inflation] tends to seem to drive bitcoin and the stock market apart." Plus, reasons behind Coinbase's user numbers and revenue decline for the third quarter.
Market Wrap: Higher Inflation Expected to Send Bitcoin and Gold Higher Into End of Year
Bitcoin hit an all-time high Wednesday before falling back.
Where Is Bitcoin Headed Next After Closing in on $69K?
Bitcoin broke $69,000 on some exchanges for the first time. Chief Business Officer at Blockchain.com Lane Kasselman discusses the potential catalyst behind the price surge and the possible headwinds for bitcoin ahead. Plus, insights into his firm's growth and noteworthy statistics as it celebrates its 10th anniversary.