2020-11-7 14:03 |
Bitcoin on-chain analyst Willy Woo sees three reasons why a blow-off top is unlikely to happen anytime soon for BTC price.
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Genesis Digital Assets Limited (GDA), a leading force in the global Bitcoin mining sector, has partnered with YPF Luz, a subsidiary of Argentina’s state-owned energy company YPF. Together, both partners have established a new Bitcoin mining facility that capitalizes on an innovative energy resource: stranded gas from oil fields.
Recent findings from BitMEX Research have reignited concerns about the centralization of Bitcoin mining. Their study, which cites insights from Bitcoin analyst Alex Bergeron, points out that a single entity now controls the Coinbase outputs for approximately 47% of the network hashrate—a significant concentration that suggests a shift toward oligopolistic tendencies within the Bitcoin mining […]
Bitcoin Core has officially launched version 27. 0, incorporating an array of enhancements and updates designed to bolster the functionality and security of the Bitcoin network. The update, which can be downloaded from the Bitcoin Core website and GitHub, includes notable changes in network protocols, security measures, and wallet operations.
On Tuesday, the crypto market was off guard when Cathie Wood’s ARK 21Shares spot Bitcoin ETF (ARKB) experienced a significant outflow. This marked the first time since the introduction of spot Bitcoin ETFs in the United States that one of the “Newborn Nine” surpassed the outflows of Grayscale’s Bitcoin Trust (GBTC).
The Bitcoin price has crashed from over $72,000 yesterday to as low as $65,500. As reported earlier today, there are several obvious reasons for this, such as the liquidation of extensive long positions on the red-hot futures market, expectations of a “higher for longer” policy by the US Federal Reserve as a result of hotter than expected inflation data and a relatively weak inflow day for the spot ETFs yesterday.
Just below the all-time high of $69,000, the Bitcoin price has shown more volatility in recent days, only to now tread water around $67,000. But this boredom could soon be over. Following the recent price movements, a notable pattern has emerged on the Bitcoin (BTC) price chart, as recognized by the seasoned crypto analyst Josh Olszewicz.
In a remarkable display of bullish momentum, the Bitcoin (BTC) price has surged, nearly touching its all-time high of $69,044 set in November 2021. The cryptocurrency’s value climbed to an impressive $68,848 before facing a 5% correction, subsequently dropping to $64,200.