Bitcoin News

El Salvador Buy the Dip
Crypto Market Flash Crash Makes El Salvador Buy the Dip

Bitcoin plunges below $50k Investors forecast Bitcoin to reach over $500k in the future.  Bitcoin, the king of cryptocurrency, again experienced a bearish dip as it dropped its price below $50k. This bearish performance of Bitcoin was felt on every corner of the crypto market. Hence, the market capitalization of the crypto market amounts to $2.1 trillion, which has been down by -9.4% in the past 24 hours. Truly, this behavior of the market recently gives chills to investors and traders around the world.  Aside from Bitcoin, some crypto assets such as XRP, LINK and DOGE also experienced the wild

2 mins read
Iran Resumes Crypto Mining in September
Bitcoin Regains $50K Foothold As Iran Resumes Crypto Mining in September

Iran will approve crypto mining in September. The lifting of the ban will only be for approved crypto mining firms. Meanwhile, Bitcoin price has reached $50,000 again. Bitcoin price is back at $50,000, amid recent news that Iran is undergoing preparations to approve crypto mining activities of authorized miners possibly in September. The announcement was made by Tavanir, the country’s foremost energy corporation.  Previously, the country banned crypto mining even for firms that have received approval from the government. According to the country’s leadership, this was due to power issues given the energy sucked by crypto mining farms for their

1 min read
46M Americans Hold Bitcoin
46M Americans Hold Bitcoin, BTC Offers Financial Freedom

Over 46 million Americans now hold Bitcoin.  This proves that most people are against banning Bitcoin.  CEO of MicroStrategy — Michael Saylor, believes that Bitcoin will bring financial freedom. The journey of Bitcoin (BTC) continues with much gusto. Twitter account — Documenting Bitcoin, continues to make records of its every milestone.  As of today, the latest one says that over 46 million Americans are holding BTC. In detail, Documenting Bitcoin tweets saying — Bitcoin is for everyone.  It goes on to highlight that 46 million Americans now hold BTC. This means that most individuals are now aware of the pioneer

2 mins read
Bitcoin and Ethereum Miners Earn Record Revenues
Bitcoin and Ethereum Miners Earn Record Revenues for July

Ethereum and Bitcoin miners earned higher revenues in July. ETH revenue rose by 6.63% while BTC rose by 15.8% However, the crypto market is still struggling to rebound after the May crash. Miners of top cryptocurrencies Bitcoin and Ethereum recorded a revenue rise in July. Notably, ETH miners earned 505,300 ETH, while BTC miners earned $971 million. In fact, ETH miners’ revenue increased by 6.63% from June to July. Also, handling fees accounted for about 18% of the increase. Meanwhile, BTC mining revenue increased by 15.8% from $839 million in June. Of note, crypto mining has recently come under fire

2 mins read
Nigeria Rides the Crypto Wave
Nigeria Rides the Crypto Wave, Citizens Choose Bitcoin

Nigeria ranks at number 2 in crypto trading worldwide.  It follows after the United States of America.  The country placed second despite much government effort to dampen crypto trading. According to Paxful, a Bitcoin trading platform, Nigeria is second in line when it comes to crypto trading. This puts the country right behind the USA. Despite numerous attempts at trying to dampen the growing interest in Bitcoin, its citizens have fully embraced cryptocurrencies.  In fact, according to Chainalysis, Nigerian users received an astounding $2.4 billion in May. This number is based on dollar volume in cryptos. This is a remarkable

2 mins read
MicroStrategy Announces $299M Loss
MicroStrategy Announces $299M Loss, Remains Bullish on Bitcoin

MicroStrategy, one of the largest institutional Bitcoin investors, recently announced a loss of $299 million during the second quarter of 2021. This is possibly due to the sheer drop of Bitcoin price from almost $65,000 to $41,355.74, according to CoinGecko at the time of writing. Nevertheless, the company remains bullish on Bitcoin, saying that they are “pleased” with their crypto strategy. According to CEO Michael Saylor, “We continue to be pleased by the results of the implementation of our digital asset strategy. Our latest capital raise allowed us to expand our digital holdings, which now exceed 105,000 bitcoins. Going forward,

1 min read
Bitcoin Hits $40K Again
Bitcoin Hits $40K Again, While ProFunds Launches BTC Mutual Fund

The crypto market is alive once more, as major cryptocurrencies are seeing signs of recovery. In fact, Bitcoin price has been around the $40,000 mark in three consecutive days. BTC/USDT 1-day chart (source: TradingView) As seen on the above chart, Bitcoin has been trading around the $40,000 mark since July 26, in which its highest price reached almost $40,500, which is a breath of fresh air to the crypto market. The presumed rally was met with strong resistance, causing Bitcoin price to retract to $35,000. The bulls made another attempt at $40,000 on July 27, although they failed to take

1 min read
Bitcoin Boost to Over $40k as Amazon Grows Interest in BTC
Bitcoin Boost to Over $40k as Amazon Grows Interest in BTC

Bitcoin surge to over $40k Amazon plans to accept  BTC as a payment option All eyes on Bitcoin as it smashes one resistance level to another in reaching the skyrocket price of over $40K. Interestingly, Bitcoin managed to achieve a growth rate of over +14% in the past 24 hours. Truly, this amazing performance made by Bitcoin surprised the crypto community and investors worldwide.  This made Lark Davis, a Bitcoin investor and crypto analyst, react in a tweet post: As per Lark, Bitcoin finally frees itself from its bearish downtrend in the past 7 months. “#Bitcoin just broke out of

2 mins read
Bitcoin Rises After Elon Musk Says
Bitcoin Rises After Elon Musk Says Tesla To Accept BTC Again

Elon Musk shared that Tesla might reinstate Bitcoin payments. The news caused the top crypto to rebound above $30,000. Also, Musk shared that he personally along with Tesla and SpaceX still hold BTC. Top cryptocurrency, Bitcoin (BTC), has surged since Elon Musk disclosed that Tesla is “most likely” to reconsider accepting BTC payments. Notably, BTC is up 0.3% since Musk shared this news.  Tesla CEO and billionaire Elon Musk shared this at the recent B Word cryptocurrency conference,  “Most likely the answer is that Tesla would resume accepting Bitcoin…I wanted a little bit more due diligence to confirm that the

3 mins read
Michael Saylor Responds to Mike Tyson
Michael Saylor Responds to Mike Tyson, Chooses Bitcoin Over Ethereum

Michael Saylor responded to Mike Tyson’s survey, saying he has chosen Bitcoin over Ethereum. Saylor claimed he spent over 1,000 hours studying Bitcoin’s case. The crypto market remains in bearish territory, with most assets in the red. MicroStrategy CEO Michael Saylor recently commented on a question posed by boxing veteran Mike Tyson on Twitter. Tyson asked the space if they preferred Bitcoin or Ethereum, to which Saylor replied Bitcoin. According to the tweet, Saylor spent more than a thousand hours considering the question. Instead of elaborating further, he pointed Tyson to hope.com for further Bitcoin education. Saylor is a well-known

1 min read
Bitfarms Boosts BTC Output
Bitfarms Boosts BTC Output Amid Easier Mining Conditions

Bitfarms has improved its BTC mining output amid the easier mining conditions. Bitforms deposited 1,445 BTC produced this year into custody. Also, the mining firm utilizes green electricity to power its mining operations. Listed crypto mining company, Bitfarms Ltd has ramped up its mining operations. The company is taking advantage of recent crypto mining bans in China to expand its market dominance.  The mining operation reportedly mined 1,357 BTC over the first half of 2021. In addition, Bitfarms deposited 1,445 BTC into custody. Notably, the BTC deposit is over 95% of the company’s BTC production so far this year.  Also,

2 mins read
Twitter Users Debate Grayscale’s Upcoming GBTC Unlock

The Twitter crypto sphere is abuzz again about the upcoming GBTC unlock.  A Twitter user claims that the unlock will fail because Grayscale cannot sell BTC. Another user clears the air and says there is no such issue. The crypto Twitter community went abuzz this morning as a Twitter user declares the upcoming Grayscale GBTC unlock FUD dead. Specifically, the user says that Grayscale does not have the authority to sell any BTC.  The user — LilMoonLambo, makes this statement on their Twitter page. LilMoonLambo is a Bitcoin and crypto investor, trader, and NFT creator. Accompanying the statement was a

2 mins read