Strategyst Lyn Alden said she switched from “uninterested to quite bullish on Bitcoin” in 2020. Following the drop of BTC to sub-$3,600 in March, she remains optimistic on the top cryptocurrency. Alden, who found Lyn Alden Investment Strategy, wrote: “So, I’m neither a perma-bull on Bitcoin at any price, or someone that dismisses it outright. As an investor in many asset classes, these are the three main reasons I switched from uninterested to quite bullish on Bitcoin early this year, and remain so today.” The three reasons Alden laid out are scarcity, halving, and the potential of Bitcoin to act …

Recent investments into cryptocurrency mining equipment by smaller players could be a positive signal for the longevity and value of Bitcoin (BTC). In late June, United States-based blockchain firm Core Scientific ordered over 17,000 of the latest Bitcoin mining ASIC machines from Chinese hardware producer Bitmain. The news made waves in the industry as the largest known order of Antminer S19s by a single operator. Core Scientific will use some of the machines for its own operations while the rest will be used for its cloud-based mining services for clients. Furthermore, one of its major clients, Horizon Kinetics, has increased …

The price of Bitcoin (BTC) has been bouncing in the range between $8,600 and $10,000 for the past two months. BTC has shown little volatility since May, following a critical rejection at $10,440. However, five major fundamental factors still point toward a prolonged uptrend by 2021. According to data from Skew, the 10-day realized volatility of Bitcoin dropped to the lowest level of the year on June 24. This may indicate that traders are cautious because BTC is at a crucial price point. The performance of BTC over the next several weeks could hint at its price trend throughout the …

Some Bitcoin (BTC) miners might become unprofitable again as a result of the latest difficulty adjustment. Earlier this week, the network mining difficulty adjustment saw a 14.95% spike, its largest increase since January 2018. The regular update, which occurs every 2016 blocks, has been pre-coded into the blockchain to keep mining speed at approximately 10 minutes for a block. The latest adjustment might thwart an emerging trend in the mining sector: older generation machines coming back online after the halving. In May, the Bitcoin block reward was halved, causing a substantial number of miners to pull the plug on older …

While the theater world has Waiting for Godot, the crypto sphere has its own drama: Waiting for the Institutional Investor. Recently, there have been some promising sightings. Grayscale Investments has been buying up Bitcoin (BTC) at a great rate in recent months. Indeed, since the May 11–12 rewards halving event, the fund has been accumulating BTC at a rate equivalent to 150% of all the new Bitcoin mined, Cointelegraph reported on Thursday. The firm now has $3.2 billion in assets under management, or AUM, in its Grayscale Bitcoin Trust. Significantly, more than 90% of new inflows are from institutional players, …

One of the core narratives of Bitcoin (BTC) since inception is the oft-stated goal of separating money and state. While this has certainly been a powerful creed in the currency’s early adoption by the crypto-anarchist and techno-libertarian communities, what does this actually mean? It’s quite simply a call for a neutral form of money. When stripped of the more political messaging, Bitcoin is fundamentally the introduction of a credibly neutral, global system of value transfer that is open and permissionless yet cryptographically secure and verifiable. This burgeoning crypto economy is still relatively early in its development, yet in the ten-plus …

The price of Bitcoin (BTC) had seen a substantial rally before the halving, as the price topped at $10,100. Since then, the BTC price has been hovering inside a sideways range between $8,200 and $10,000. However, are the markets making itself ready for a breakout above this crucial resistance? Bitcoin is showing strength, but other cryptocurrencies like Ethereum’s Ether (ETH) and Cardano (ADA) are also showing strength with double-digit performances in the past week. Crypto market daily performance. Source: Coin360 Bitcoin facing $10,000 resistance as a crucial level to break The 6-hour chart is showing a clear range-bound structure since …

Crypto fund manager Grayscale Investments is accumulating Bitcoin at a rate equivalent to 150% of the new coins created by miners since the May 11 block reward halving. According to data published by independent crypto researcher Kevin Rooke, Grayscale has added 18,910 BTC to its Bitcoin Investment Trust since the halving, while only 12,337 Bitcoins have been mined since May 11. Binance CEO Changpeng Zhao reposted the chart, commenting: “There isn't enough new supply to go around, even for just one guy”. Grayscale absorbs BTC supply Last week, Rooke estimated that Grayscale had been buying Bitcoin at a rate equal …

Following the recent, third halving, Bitcoin (BTC) is now in its fourth block reward era. Leading up to the event, pundits launched into varied predictions that ranged from miner capitulation to hash rate plunges to price predictions of half a million dollars. Much of the analysis has focused around looking back at trends that followed the first and second halvings. Both events saw BTC prices skyrocket in the ensuing year and 18 months, respectively. But the third halving’s case is unlike any other. In fact, it is more like the creation of the Bitcoin network than the two previous halving …

As the halving hype has now passed for Bitcoin (BTC), altcoins are beginning to regain traction. In that regard, many altcoins have been showing significant movements in the past two weeks. One of the biggest gainers is Theta Token (THETA), which has gained 1,000% since the crash on Black Thursday (March 12). The second token of the Theta platform is called Theta Fuel (TFUEL), which has also surged more than 1,150% in a matter of one week. Crypto market daily performance. Source: Coin360 Theta Token reaches new highs, but is it time to buy? As the candles are getting greener …

Yassine Elmandjra, a crypto asset analyst at ARK Invest, said in a May 24 tweet that the Bitcoin Cash (BCH) hashrate fell by 30% since its halving event, and only accounts for about 2% of the SHA-256 hashrate. Elmandjra now thinks it’s only a question of time before somebody takes advantage of the network: “Surprised we haven't seen a large scale attack yet.” According to data from BitInfoCharts, the Bitcoin Cash average daily hashrate fell by nearly 25.6% since its April 8 halving. Still, Elmandjra presumably did his calculations based on May 23 data, where the hashrate was down by …

The third Bitcoin (BTC) halving has settled, and the Bitcoin network has just experienced its first difficulty adjustment post third halving. The difficulty has decreased from 16.1 trillion to 15.14 trillion, which is about a 6% downward adjustment, providing miners who have survived so far with some relief. Bitcoin network hash rate experienced a significant decline post-halving It is important to recognize that the network hash rate cannot be directly observed; rather, it needs to be calculated from the average block production time and the difficulty level. Based on the average block time analysis, the Bitcoin network has experienced a …