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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
Challenges and Opportunities for Bitcoin Mining in North America
Zack Voell of Compass Mining breaks down his comprehensive report on mining entitled "North American Bitcoin Mining Index (NABMI)." He discusses the key findings and crypto market implications from six months of data analysis on "companies, capital, and energy mix powering Bitcoin mining in North America."
Why Bitcoin Mining Hashrate Dropping to 1-Year Low Following China Crackdowns Is Good News for Miners
China's continued crypto crackdowns have been a blow for mining operations based in the country, but for miners in other parts of the world, it might be good news. Bitcoin's hashrate, a measure of the computational power working to secure the blockchain network, dropped to its lowest since May 2020. Meanwhile, the BTC mining difficulty could see a 25% decrease in July. "The Hash" hosts unpack why this is a windfall for active miners outside of China.
Bitcoin Billionaire Mircea Popescu Reportedly Dead at 41
"The Hash" team discusses the news swirling around the reported death of controversial bitcoin maximalist Mircea Popescu, also known as the "Father of Bitcoin Toxicity." Popescu is believed to be one of the largest holders of bitcoin.
Bitcoin Gathering Upside Momentum?
Bitcoin’s price pierces $35K but faces resistance near $40K. Delta Exchange CEO Pankaj Balani sheds light on the potential tailwinds that are causing this bounce.
Bitcoin: When Are We Going to See a Breakout?
Trade the Chain Senior Research Analyst Nick Mancini on bitcoin's price and whether a bullish breakout is imminent. "Bitcoin is on a greener path, although we are still going to see a lot of resistance as we work our way up to $40K," he said.
Bitcoin Sticking to Descending Trendline?
Bitcoin is trading lower after a brief 5% bounce on Sunday. The cryptocurrency is testing the $35K resistance and could find support around $30K, which is the bottom of a month-long trading range. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Analysts: This Bear Market May Not Last Long
Cryptocurrency markets will likely stay under sell pressure for the next few weeks, but data points indicate this bear may be short-lived. “We are in the middle of a bull market cycle that is punctuated by a temporary bear market,” host Adam B. Levine says.
Billionaire Ricardo Salinas Pliego Says His Bank Is Working to Be First Lender in Mexico to Accept Bitcoin
Billionaire and noted bitcoin bull Ricardo Salinas Pliego revealed he is working to make his bank, Banco Azteca, the first lender in Mexico to accept bitcoin. “The Hash” team continues the ongoing conversation around Latin America’s booming institutional interest for cryptocurrencies and the implications for financial access.
Are We in a Bear Market; How Long?
"We can't use the old equity benchmark, a 20% pullback from recent highs, to determine if we're in a bear market," GlobalBlock's Grant Whitlock says on "First Mover," pushing back the argument that we are in a bear market following the recent price drops for bitcoin. "You're talking about a product that can move 20% in a day," he added. Bitcoin now bounces back 15% after falling below $30K, battling resistance in the $37-37K range. Are we out of the woods yet? What's next?
Key Indicator Shows Capital Beginning to Flow Back Into Bitcoin
The stablecoin supply ratio oscillator, which has historically marked major price bottoms, is showing renewed flow of capital into bitcoin. CoinDesk's Christine Lee breaks down the Chart of the Day.