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Bitcoins Market Value to Realized Value (MVRV) ratio is in the bullish territory once more, as data from the analytics platform CryptoQuant reveals. The MVRV, a market sentiment metric has gone above the 365-day moving average (SMA365), which might signal further upside for the cryptocurrency. In the past, when Bitcoins MVRV is above its SMA365, […]
The famous analytical service CryptoQuant has provided some interesting information about the actions of investors in the crypto market in the last two weeks. In a recent report, the firm highlighted that there is a clear dichotomy between short-term and long-term Bitcoin holders. Now that the short-term investors are leaving due to market volatility, the […]
The behavior of Bitcoins value during the 2023-2024 market cycle can be divided into four phases. Daan Crypto Trades highlighted in a recent post on X that these stages consist of two rallies and two consolidation periods with the second phase of each stage longer than the first. This pattern makes it easier to describe […]
Bitcoin price held firm at the $67,500 support on Saturday June 1 2024, as the crypto market entered consolidation phase…
The post Bitcoin Price Hits Roadblock at $67,500: Whats the Next Move? first appeared on The Crypto Basic.
Bitcoin derivatives traders’ reaction to the underwhelming US Non-Farm Payrolls report could drive prices further upward as Bitcoin price extends…
The post Bitcoin Price Forecast: BTC Short Traders Face $1.2B Losses after US NFP Report first appeared on The Crypto Basic.
Market analyst Jelle recently asserted that a Bitcoin (BTC) surge to the coveted $100,000 price is only a matter of…
The post Market Veteran: Bitcoin Surge to $100,000 Just a Matter of Time first appeared on The Crypto Basic.
Why did Bitcoin crash? What will happen to Bitcoin after the crash? Let's assess price areas for Bitcoin and predict what can happen soon.
Legendary trader John Bollinger believes the price of Bitcoin could trade as low as $30,000 if support at $40,000 is lost, a moment that calls for the attention of market traders. Legend John Bollinger is expecting Bitcoin to be as low as $30,000. If you are a trader, you have undoubtedly used Bollinger Bands. […]
The post Legendary Trader John Bollinger Believes Bitcoin Can Crash To $30,000 But Also Signal This As A Buying Opportunity appeared first on The Crypto Basic.
In a reply to a question asked on Bitcoin in the Parliament on Monday, Finance Minister Nirmala Sitharaman said that central government does not collect any data on bitcoin transactions. It also said that there is no proposal to recognize bitcoin as a currency in the country. Whether the government has any proposal to recognize […]
The post Finance Minister of India, Nirmala Sitharaman Says, “No”, when Question is asked on Bitcoin Recognition Proposal appeared first on The Crypto Basic.
Bitcoin whales, defined as addresses or clusters of addresses holding between 100 and 10,000 $BTC, have reportedly accumulated a whopping $2.36 billion worth of the flagship cryptocurrency after its price started dropping, data shows. According to cryptocurrency analytics firm Santiment, bitcoin whales accumulated about 40,000 BTC when bitcoin’s price dropped to a $56,000 low last […]
The post Whales are Excited to Buy the Dips: Most Aggressive Accumulation in Play as 6,770 BTC Added in Whale Wallets in Less Than 2 Weeks appeared first on The Crypto Basic.
President Nayib Bukele of El Salvador said on Wednesday that the El Salvador government has purchased additional 420 bitcoins, which brings the total amount bought until now at 1,120 BTC. It was a long wait, but worth it. We just bought the dip! 420 new #Bitcoin???? — Nayib Bukele ???? (@nayibbukele) October 27, 2021 […]
The post El Salvador purchased additional 420 bitcoins appeared first on The Crypto Basic.
Everyone heard about Bitcoin in the past 2 years. The mainstream media helped push this cryptocurrency to the mainstream, as its price soared by more than 1,400%. On the other hand, it is not enough to simply hear about something. It is also important to understand what it stands for, how it started, and its basic mechanics. That's why in this article, we're going back to the basics, and introduce Bitcoin crypto in a very simple and straightforward way.
Buckle up, sit down and enjoy this quick guide on what Bitcoin crypto is.
What is Bitcoin crypto?Bitcoin is the most recognized digital, decentralized currency, which is created through solving cryptographic tasks. Transactions are written into a decentralized blockchain, which ensures that Bitcoin is always available and immune to manipulation. The revolutionary aspect of Bitcoin is that it does not need a central authority like a bank for the validation of transactions. The current price of Bitcoin crypto in USD/Eur/Yen (Fiat) is purely created through supply and demand.
Who is Satoshi Nakamoto?The founder of Bitcoin Core is only known under the pseudonym Satoshi Nakamoto. In November 2008 he developed the currency. Until today it is not known which person or group of persons are behind this anonymous name. Since 2008 multiple persons were associated with the name, but until today no one could yet prove to be the real Satoshi Nakamoto.
How was Bitcoin Created?Whenever Bitcoin is generated, a new block gets discovered. Each block contains a certain amount of bitcoin. This amount reduces after every four years. The discovery of a new block comes when a user solves hash encryption by the SHA256 algorithm. To make things easier, this is a complicated puzzle which is a string of characters that needs to be decoded using high-end computing power. In the end, a user gets rewarded with bitcoin every time they add a block to the blockchain.
In 2009, if a user would add a block to the blockchain, he/she would get 50 bitcoins. As it stands, the number was revised, and a user would only get 12.5 bitcoins. Since more bitcoins are getting discovered, the mystery of solving the puzzle increases. Thus, mining bitcoin becomes difficult.
Bitcoin difficulty was rated at 1.0 when it first came out. The same strain was measured at 1.18 at the end of 2009. In 2017, eight years down the line, the difficulty was at 4.24 billion. This is an indication that bitcoin mining is becoming difficult than it was before.
In the early days, you only needed a desktop to mine a coin. Not anymore after more miners entered the race. Nowadays, you need a device with complex configurations, and still, the procedure takes long and consumes more power.
Bitcoin Crypto - Pros and Cons Pros Quick TransferIt’s easier to send Bitcoin between two parties in different countries. It’s fast and simple as opposed to the bank option.
Quick Payments, Less FeeMoney transfer is fast as there is no third party involved. Besides, the fee one pays in a Bitcoin transaction is less compared to bank charges.
Protection Against Payment ScamYou cannot reverse bitcoin payments. Still, the chances of them being counterfeit are zero.
Cons Illegal ActivitiesThe cash that Bitcoin generates is used to fund illicit activities. Hacking activities have also been on the rise in exchange for bitcoin.
Government RegulationBitcoin has not been accepted in some countries and in some, they have been banned. The majority of investors have purchased bitcoin using black money. If the global government can decide to regulate the trade of bitcoin, it might become unstable and collapse.
Risk of LossYou should invest the amount you are willing to lose. If you lose your stake, it won’t hurt. There are times when web exchanges go out of business. This time, forget all your investment as it is gone. Also, market fluctuations affect the crypto market too. With an investment of $6,000, today might be $3000 an hour later.
What to Consider before investing in Cryptos RiskThe cryptocurrency market is full of uncertainties as much as it’s full of gains. Bitcoin, Ripple, Ether, and others have shown steady growth, but you can’t equate the trend to new altcoins. It’s a matter of time before altcoins can have a sustained track record. Still, not all will shimmer. Be vigilant when investing in altcoins.
PurposeEnsure the coin you want to invest in has a purpose for existence. If not, chances are it is going to stagnate. It’s that simple. Invest in an altcoin that solves a particular problem.
The Team Behind the CoinThe team behind each coin should have a solid background in the industry. Don’t fall prey to a currency established by a group of dreamy-eyed entrepreneurs. Avoid altcoins that are entirely new.
Practical CaseThe altcoin you want to invest in should provide a solution to the problem it intends to solve. The answer should be reasonable in that, for example, if the problem is to replace the internet with new blockchain-based infrastructure, explain how you will implement it.
How to accept Bitcoins in 3 simple stepsIt is very easy to accept Bitcoins as a company. Our guide in three Steps will walk you through the process. Here you can find a small list of vendors that accept Bitcoin.
1. Create a Bitcoin Wallet
You can use an online Wallet or install one on your machine. You can find a list of wallets here.
2. Print a QR-Code
To pay and accept Bitcoins you have to convert your bitcoin address to a QR code. The QR code includes your Bitcoin address, to where the customers are supposed to send their bitcoins.
Paying mobile with QR code
Static QR code: A static QR code, that never changes. Commonly found near the checkout. The customer just has to open his Bitcoin Wallet on their smartphone and click on “Send Bitcoins” to scan the static QR code. The amount (in Dollar or Bitcoin) has to be typed in manually and be confirmed.
Dynamic QR Code: The procedure is very similar. The only difference is, that the QR code has to be created for every individual buy. Then the amount the customer has to pay is already included in the QR code and the customer does not have to type it manually, which is even more convenient for vendors. Also, this makes it easier for beginners to send the correct amount.
You can create a Code here.
3. Show that you accept Bitcoin
That is the easiest part. Just add a visible sticker to your store that reads “We accept Bitcoin”.
How to Buy BitcoinsBadger DAO Bitcoin© Cryptoticker
The post Crypto Basics – Don’t know What Bitcoin crypto is? Here’s a Complete Guide appeared first on CryptoTicker.
Bitcoin's price crossed the $50,000 level for the first time since May.
As a result of this rally, more than 90% of the coins on the network now exceed their purchase price - which means that less than 10% of those who invested in bitcoin have suffered any losses.
Not Like Last Time, for One BIG Reason...
It's important to understand - last time Bitcoin broke $50k a big reason behind the rise was people trading with leverage (borrowed funds) which amplifies both risk and returns. It allowed people with $100 to their name to run up the market by thousands.
If you haven't traded with leverage, this may sound great - but it's a double edged sword, they take back their money and all of yours if it begins to lose even a little.
But This Rally Was Organic, Driven By Real Buying...
This recovery however is based on real buys, with the leverage markets lower than ever. Partially because of how badly it turned out for many last time, and because two huge sources of leverage trading, Binance and FTX Trading, lowered their highest leverage amount from 100X to 20X.
However - be prepared for leverage to make it's return, as more traders become confident that Bitcoin will break the next hyped up price point of $100k, some are expecting to see an increase in leveraged trades to follow if Bitcoin can stabilize above $50k.
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The analytical platform Crypto Quant explained some fundamental aspects about the behavior of the Bitcoin market, with a special focus on exchange netflows. These netflows, that are derived from the balance of Bitcoin flowing into or out of exchanges, provide a valuable insight into investor attitude. The platform data reveals that when Bitcoin enters exchanges, […]
Bitcoin has stayed around the $96,500 mark eliciting both positive and negative sentiments across the industry. While some traders are turning positive, others are still a bit conservative. Larger investors moreover look more cautious, hesitating as Bitcoin price oscillates and undergoes retests on a regular basis. Source: TradingView The analytical platform CryptoQuant has published a […]
Bitcoin has dipped below the $95,000 mark, and there is much excited conjecture about whether an altcoin season may be looming. The fall coincides with heightened volatility in conventional markets amid the Federal Reserves policy switch on interest rates and monetary policy tightening. In a recent YouTube video, Crypto Rover pointed out that a 4.5% […]
Egrag has shared his view on the current Bitcoin (BTC) market cycle and presented his estimates of the next cycle top and the bear market bottom. In a recent post on X he sets the next cycle top for BTC at between $130,000 and $175,000, with the bear market bottom of the next cycle possibly […]
Bitcoin faced a resistance at a significant level after experiencing an upsurge to try and close a CME gap. Crypto analyst Crypto Rover pointed out in his YouTube video that BTC has been unable to break through a previous range high that has now become a wall. This level has on several occasions provided the […]
Bitcoin is sparking renewed momentum, and traders predict that the price would return to the $62.4K level shortly. In an X post on Sunday, Daan Crypto highlighted that BTC could trade back up to this critical level once the futures market reopens. This has become a support and resistance for recent weeks at the $62.4K […]
Bitcoin could be set for a sharp decline, with some analysts predicting that the cryptocurrency could fall to $52,000. On Thursday, in another post on X, Ali Martinez pointed out that the price was in a descending parallel channel, a formation that has been associated with bearish action. This forecast is likely to further continue […]
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