Bitcoin | CoinDesk

Bitcoin Use Will Be 'Totally Optional' in El Salvador, Finance Minister Says

According to Alejandro Zelaya, businesses will not be penalized if they do not accept bitcoin.

By Andrés EnglerAug 18, 2021

Bitcoin and other cryptocurrencies are consolidating near recent highs.

However, only about 58% of nodes are operating channels and earning yield.

By Myles ShermanAug 18, 2021

Bitcoin uses less than half the energy the banking system consumes, according to recent data.

By Annika FeignAug 18, 2021

The cryptocurrency is down 3% in the last 24 hours.

Bitcoin continues to cool on multiple attempts at $50,000, though that may be less of a concern given demand from bigger players.

Some analysts are optimistic about the long-term recovery in crypto prices, although the pace of the upside will likely slow over the short term.

BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.

Low levels of daily trading volume persist as bitcoin struggles to edge higher while short positions build.

Analysts expect traders to take a breather after the crypto's recent rally.

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