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Bitcoin and Altcoins Turn South But Key Supports Intact

9.1.2020
Bitcoin price struggled to continue above the USD 8,450 and USD 8,500 resistance levels. As a result, BTC/USD started a downside correction below the USD 8,350 and USD 8,200 support levels. The price even traded below USD 8,000, but it is holding the key USD 7,850 support (09:00 UTC). Similarly...

Is Bitcoin Mining hazardous to the Environment?

9.1.2020
The enormous consumption of electrical energy in the mining of Bitcoin has been a burning issue of debates over the past few years. Bitcoin was invented in 2008 by Satoshi Nakamoto when the world was going through the dark cloud of the financial crisis. The financial catastrophe in 2007–2008...

Bitcoin History Part 23: The First BTC Escrow

9.1.2020
Before the emergence of crypto exchanges and trustless multi-sig, early bitcoiners saw the need for an escrow service – a mediator to act as a go-between for strangers transacting online. Given the panoply of options now available, it is strange to think that escrow was once provided by a...

Federal Reserve Considers Creating a Separate Entity for Cash Injections

8.1.2020
While American President Donald Trump wages war with Iran, the U.S. Federal Reserve has continued to inject fresh capital into the hands of private banks by giving them $100 billion in overnight and 14-day repos on Tuesday. The same day, Rabobank strategist Philip Marey predicted the central bank...

Japanese Firms SBI and GMO Join the Digital Gold Rush in Texas

8.1.2020
The city of Rockdale, Texas is attracting attention again, similar to the interest the region saw back in the fifties when the Alcoa aluminum smelting facility set up shop. These days, Rockdale’s change is due to the influx of bitcoin miners coming to town from all around the world....

BTC Hits Major Resistance at $8k; Manifests Possibility to Breach $10k

8.1.2020
Bitcoin (BTC), at the time of writing, was trading at $8,324.48 and is seen trading in the green with an intraday bullish move. Just when we thought that we are losing on BTC investments, the king of the cryptocurrencies started to show its power. After a despairing latter half of the bygone year...

Binance Donates $1 Million in Crypto for Australian Bushfire Relief

8.1.2020
The cryptocurrency community is again showing its commitment to support charitable goals around the world. Binance, the most active international digital asset exchange, has donated $1 million to help with Australian fire relief efforts and invites the community to join the initiative. The recent...

Bitcoin Still Uncorrelated with Gold & Stocks; A New Trend Emerging?

8.1.2020
Bitcoin (BTC), the best performing asset of the last decade, ended 2019 on a far better note than both gold and the U.S. S&P 500 stock index, while still remaining uncorrelated to traditional assets, a new report from crypto exchange operator SFOX noted. However, there might be a new trend forming...

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