Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble. For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close to $50 per ounce was made in 1980, and the price came close to that level only in …

Blockstream’s Samson Mow wants to move the conversation away from Bitcoin’s (BTC) performance in transactions per second and toward its role in ushering in “a new financial paradigm,” that is, serving as a permissionless medium for the store and transfer of value. #Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It's all about value transacted per second and a new financial paradigm. #VTPS not #TPS. Nothing comes close to @BTC. pic.twitter.com/aXfDauPx9b — Samson Mow (@Excellion) December 2, 2020 Mow’s argument is that “VPTS [value …

Bitcoin (BTC) price came within striking distance of hitting a new all-time high today. This shows that institutional and retail investors continue to buy on every dip and BTC is in a strong uptrend. Hence, traders should not urgently looking to call a top. While Bitcoin has been creating new records, gold has corrected about 15% from its all-time high. This shows that traders are dumping their positions and this led to the largest weekly outflow in gold. Analysts believe that some of the money flowing out of gold could enter Bitcoin as institutional interest continues to soar. A new …

Bitcoin’s (BTC) rise above $20,000 will have to wait, as the price saw a strong correction and turned away from reaching a new all-time high. Data suggests that whales decided to book profits when Bitcoin was close to $19,000, and this pulled the price lower. This fall could have resulted in the liquidation of overleveraged positions in the futures market and further aggravated the decline. The current correction is a healthy sign, as the crypto market was becoming overheated as several altcoins rallied vertically in the past week. While some altcoins have given back a large portion of their recent …

The crypto market has been in a strong bull run over the past few days, and that has pushed Bitcoin (BTC) to its second-best day ever. Almost every trader now seems to be fixated on the magical figure of $20,000 per BTC. After such a sharp up-move, some traders are calling for a top, while others are projecting lofty targets for the future. CNBC Fast Money host Brian Kelly, for example, believes that the recent volitile moves in altcoins, overpriced Bitcoin address growth, and rising funding rates pointing to the arrival of retail traders may be a warning sign of …

Bitcoin (BTC) has been leading the current crypto rally for the past few weeks, and this has boosted its dominance from 56% on Sep. 3 to 67% on Nov. 18. However, as Bitcoin nears its all-time high, it seems to be losing momentum as the action shifts to altcoins. This has pulled Bitcoin’s dominance down to about 62.3%. No long-term bull market can be led by one leader alone. There are periodic rotations when the leader enters a consolidation or a minor correction while others take the lead. A similar rotation is currently playing out in the crypto markets, with …

Bitcoin’s (BTC) current rally has largely been led by investments from institutional investors and publicly listed companies. Data from Bitcointreasuries shows that companies hold about 4.54% of the current Bitcoin supply. A survey of 700 high-net-worth individuals chosen from across the globe shows that about 73% of respondents either own or want to own cryptocurrencies before the end of 2022. The proposed influx of money from large investors could boost demand and drive crypto prices higher. Bloomberg Intelligence strategist Mike McGlone believes that if history repeats itself, Bitcoin could rally to $170,000 over the next two years. McGlone pointed out …

Within the last 24-hours, Bitcoin (BTC) price hit an intraday high of $18,466.14 and this is just roughly 8% lower than the magical $20,000 figure being watched by many traders. However, investors in several countries such as Russia, Argentina, Brazil, and Mexico have already seen their Bitcoin holdings hit a new all-time high in their local currency. Even Bitcoin’s market capitalization has hit a new record high, topping the high created in December 2017. With institutional investors finally arriving in herds, it seems it is only a matter of time before Bitcoin finally overtakes $20,000 and sets a new all-time …

Amaury Sechet's Bitcoin ABC coin is up 70% today as the developer announced a new upgrade for the client software that includes stability-related fixes for both forks of the Bitcoin Cash client. The new release breathes much-needed life into the Bitcoin ABC (BCHA) faction of Bitcoin Cash which was crushed by rival Bitcoin Cash Node (BCHN) in a briefly-lived hash war following the fork on November 15. This led to rumors about its impending demise. According to CoinMarketCap, BCHA opened trading at $11.78. The coin is now trading with substantial volume on exchanges and has been as low as $10.50 …

The Bitcoin Cash network just went through yet another fork after originally being created as a hard fork from the Bitcoin (BTC) blockchain in August 2017. The hard fork on Nov. 15 split the Bitcoin Cash network into two new blockchains, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). The main difference between the two is the 8% tax on gross rewards that miners must pay to BCH ABC’s development team. Among the two networks, Bitcoin Cash ABC received very little hash power, while Bitcoin Cash Node obtained the majority, indicating that miners may generally favor BCHN over BCHA. …

As Bitcoin (BTC) continues to rally to a new 2020 high above $16,700, traders are pondering whether this is the start of a new bull market. Mike McGlone, senior commodities strategist at Bloomberg Intelligence, believes that the main hurdle is at the all-time high near $20,000. Once that is crossed, Bitcoin could reach a $1 trillion market capitalization. McGlone anticipates the uptrend to continue in 2021, and there are a growing number of analysts who agree with his view. Veteran trader Peter Brandt also believes that if previous bull runs are considered, Bitcoin is in the early stages of its …

The value of assets under management for crypto fund manager Grayscale Investments’ Bitcoin Cash Trust has fallen $1.6 million following the announcement that the crypto asset would be forking on Nov. 15. According to data from Coin Dance, the Bitcoin Cash (BCH) network has now split into two blockchains. Currently, miner action appears to be favoring the community-driven Bitcoin Cash Node, or BCHN. Crypto exchange Binance’s pool was responsible for mining block 661,647 — the last common block before the fork. At the time of publication, miners have mined roughly 27 blocks for BCHN and none for Bitcoin ABC, or …