Category Archives: Bitcoin
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC produces fresh lows at the start of new week – FXStreet
Bitcoin (BTC) price ended its rangebound movement as it slipped nearly 3% between late July 31 and early August 1. The sweep of key lows could trigger a rally in later in the week, but investors need not hold their breath. The aura of this dormancy that penetrated altcoins, including Ethereum (ETH) and Ripple (XRP), could likely end if BTC makes a strong recovery rally to $30,000.
Also Read: Bitcoin teases $29.5K, Ether drops as 'accumulator season' begins
Bitcoin (BTC) price is edging west, with neither bulls nor bears showing the upper hand. The king of crypto is showing signs of diminishing volatility that puts it at a standstill tethered to the 100-day Exponential Moving Average (EMA) at $29,349.
Nevertheless, trending markets can only hold out for so long, and the next move could present soon. With the Relative Strength Index (RSI) lower than 50 and tipping south, and the histograms of the Awesome Oscillators (AO) in the negative, Bitcoin price is more likely to head lower as momentum continues to fall.
Possible inflection points for Bitcoin price are the $28,930 level or in the dire case the 200-day EMA at $28,464 on the 12-hour chart below. Failure to turnaround at these buyer congestion levels could expose BTC to a cliff, potentially toward the $27,000 range.
BTC/USDT 12-hour chart
Conversely, bulls coming in at the aforementioned levels could revitalize Bitcoin price, fueling a breach from the 100-day EMA foothold at $29,349. An increase in buyer momentum beyond the 50-day EMA at $29,646 would be ideal, as a flip of this supplier congestion level into support would clear the path for a possible move to $31,462.
A decisive move past this level would solidify an uptrend for Bitcoin price.
Also Read: Bitcoin hovers below $30,000 as Coinbase CEO recalls SEC's request before the lawsuit
Ethereum (ETH) price is moving in harmony as BTC, consolidating sideways as domination under the 50-day EMA at the $1,870 level continues. As the Bitcoin influence weighs down on ETH, the largest altcoin by market capitalization could be due for a fall as volatility grows.
With the RSI momentum indicator below the 50 level, Ethereum price could lose the immediate support offered by the 100-day EMA at $1,842. A fall through this support level could see ETH revisit the June 21 lows marked by the support confluence between the horizontal line and the 200-day EMA at $1,782. Such a move would constitute a 5% drop from current levels.
ETH/USDT 1-Day chart
Conversely, if bullish momentum builds above the 100-day EMA, Ethereum price could ascend to flip the 50-day EMA back to support. An increase in buyer momentum could push ETH above the $1,953 resistance level, but for a confirmed uptrend, ETH must decisively breach the $2,019 hurdle.
Also Read: Ethereum logs $1M MEV block reward amid Curve Finance exploit
Ripple (XRP) price eyes a 3% drop to collect buy side liquidity that remains uncollected under the $0.684 support level. Such a move could then see XRP turnaround to the north, with the developed price action providing a possible reentry point for willing investors.
However, an uptrend would only be confirmed upon a strong move above the $0.826 resistance level. Notably, both the RSI and AO still favor the bulls, and with the 50-, 100-, and 200-day EMAs at $0.615, $0.556 and $0.506 respectively heading north, the odds favor the bulls.
XRP/USDT 1-Day Chart
Not ignoring the consequences of early profit-taking, there is also a likelihood of Ripple price falling below the $0.684 support and giving back all the ground covered in the July 13 rally.
Also Read: Pro-XRP attorney John Deaton considers XRP ruling the most significant non-fraud SEC enforcement action
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Bitcoin Could Explode 379% if This Indicator Is Correct, According to Crypto Analyst – The Daily Hodl
A popular crypto analyst is predicting a massive move to the upside for Bitcoin (BTC) if one key indicator continues to follow historical data.
The pseudonymous analyst TechDev tells his 416,400 Twitter followers that hes keeping a close watch on global liquidity cycles, which he portrays by pitting the Chinese 10-year bonds (CN10Y) against the US dollar index (DXY).
The analyst further elaborates on global liquidity cycles by setting the metric against the aggregate major central bank balance sheet, which tracks the money-printing activities of reserve banks around the world.
According to a chart shared by TechDev, global liquidity appears to be on the verge of an uptrend as major central banks expand their balance sheets. The chart also shows that Bitcoin appears to closely follow in the footsteps of global liquidity, suggesting that BTC will see rapid price acceleration in the months ahead.
If Bitcoin continues on this track, it looks primed to hit TechDevs logarithmic growth curve (LGC) sometime by or before 2025.
LGCs are designed to estimate Bitcoins long-term highs and lows and ignore short-term volatility.
TechDev says the upper bound of the LGC is likely in the $100,000-$140,000 price range.
But of course thats a very soft approximation based on the specific LGC curve parameters and impulse steepness.
With BTC trading at $29,186 at time of writing, hitting $140,000 would represent a nearly 380% price increase.
The top-ranked crypto asset by market cap is down 0.68% in the past 24 hours but up nearly 0.5% in the past seven days. Bitcoin remains nearly 58% down from its all-time high of more than $69,000, which it hit in November 2021.
TechDev also notes that the three-week altcoin market cap chart is at its tightest compression ever, while Bitcoins Bollinger bands width (BBW) hovers slightly above 0.50, which is a relatively low level.
Traders follow the BBW as the metric could signal an explosive move, regardless of the direction, following a period of low volatility,
According to a chart shared by the analyst, a strong BTC uptrend could ensue as the last three times Bitcoins BBW came close to 0.50, the crypto king unleashed a full-blown bull market.
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Bitcoin Could Explode 379% if This Indicator Is Correct, According to Crypto Analyst - The Daily Hodl
Bitcoin Price Prediction 2040: An Analytical Perspective – Southwest Journal
Bitcoin, the first and most prominent cryptocurrency, has been a topic of intense discussion and speculation since its inception in 2009. Its price has seen dramatic rises and falls, and predicting its future value is a complex task that requires careful consideration of various factors.
This article aims to provide a detailed analysis of Bitcoins potential price in 2040, drawing on expert opinions, historical trends, and current market dynamics.
Bitcoins journey from a novel idea to a globally recognized asset has been nothing short of remarkable. In 2021, the value grew from $29,374.15 on January 1st to $46,306.45 on December 31st, managing to surpass the $60,000 mark twice, most notably when it reached its all-time high of $68,789.63 on November 10th that year.
Despite the impressive growth, Bitcoins journey has not been without its share of turbulence. The cryptocurrency fell over 60% in 2022 amid a wider investor sentiment shift. However, the new year brought some grounds for optimism as the token broke through the $25,000 mark to trade at $29,159.90 its highest price in nine months on March 30, 20231.
Maximum supply of 21 million tokens. To reduce the rate at which new bitcoins are issued, the cryptocurrency undergoes halving events roughly every four years.
These events reduce the number of tokens released into circulation by halving their supply, making the token scarcer and potentially raising its value.
Research shows that the value of Bitcoin has enjoyed a bull market lasting between 12 and 15 months after each halving event occurred. The past three halving events that took place in 2012, 2016, and 2020 saw the Bitcoin price surge by 9,915%, 2,949%, and 665% respectively.
Solid cryptocurrency regulation will be required to attract more institutional money into the space and boost the price by 2030. Alex Faliushin, the CoinLoan founder and CEO, believes that when the whole industry becomes more transparent and regulated, new money coming into the market could lead to a sharp price rise.
A number of analysts have pointed out the similarities between gold and Bitcoin, both are viewed as a natural hedge against inflation.
There is a finite amount of both, they usually have relatively low correlations to equities and fixed income, and they act as a store of value outside of traditional systems such as governments or central banks.
Several long-term Bitcoin price predictions have been made. DigitalCoinPrice suggests that could trade at an average price of $305,981.72 in 2030, and it could be worth $571,195.49 in 2032.
PricePrediction is extremely bullish, claiming that the price could rise to $564,433.66 in 2030, growing further still to an eye-watering potential $1,168,666.81 in 2032.
According to an analysis from DigitalCoinPrice based on Bitcoins average yearly rate of return over the past five years, which is approximately 22%, the future price of BTC could potentially reach $1,050,000 by 2040. This would represent an increase of more than 3,480% from its current price of around $29,300.
Its important to note that this projection is quite straightforward and doesnt take into account more complex factors. However, it can serve as a useful starting point for understanding potential future price movements. Ultimately, the performance and its viability as an investment are largely dependent on broader economic and geopolitical factors.
For those interested in customizing these figures to better reflect their personal circumstances or different rates of return, a Bitcoin profit calculator could be a valuable tool.
The most optimistic predictions suggest that BTC could reach the $1 million mark by 2030. ARK Invest analyst Yassine Elmandjra and CoinLoan founder and CEO Alex Faliushin both agree with this bullish outlook.
Using Bitcoins average annual return over the past five years, which is approximately 22%, we can project the potential price of BTC in 2050. Based on these parameters, BTC price could increase to $7,670,000 by 2050, representing a growth of more than 26,070% over the next 27 years.
However, some might argue that a 22% yearly return over nearly three decades is not realistic. Therefore, we also calculated the potential price using the multi-decade return of the S&P 500 stock index, which has returned an annualized average ROI of around 11.88% since its inception in 1957 through the end of 2021. If Bitcoin follows this rate of return, its price could reach $665,000 by 2050.
Several prominent individuals and institutional investors in the cryptocurrency market have also made their own predictions for Bitcoins future price:
BTC, as the pioneer and most trusted blockchain project, has demonstrated its potential to yield substantial returns for investors, particularly with the recent surge in its price. Bitcoins real-world use cases and its position as the future of payments add to its credibility.
More financial institutions are expected to adopt BTC as a payment method in the coming years. Based on these factors, a long-term investment in Bitcoin could be a promising option.
However, its crucial to remember that Bitcoin, like other cryptocurrencies, is subject to high volatility and can experience significant price fluctuations at any time. For savvy investors who are comfortable with taking risks,BTC could be an excellent choice. Cryptocurrencies are currently among the most lucrative assets, but they are also among the riskiest.
Therefore, before making any investment decisions, its essential to conduct thorough risk management. Always ensure that you fully understand the potential risks and are prepared to handle the possible outcomes. As with any investment, its advisable to diversify your portfolio to mitigate risks.
The worlds first and most prominent cryptocurrency, has experienced significant volatility in its price. In November 2022, Bitcoins price hit a two-year low amidst broader turbulence in the cryptocurrency markets following the collapse of the FTX crypto exchange. While Bitcoin has managed to recover some of its losses in 2023, it remains far from its record price set less than 18 months ago.
Laith Khalaf, AJ Bells head of investment analysis, noted that BTC investors have seen the highest returns among other assets over the past ten years. An investment of 1,000 in 2013 would have grown to over 1.6 million today.
However, he also pointed out that the number of investors who have captured the full ten-year return is likely very small due to the extreme volatility and the challenges of holding onto the investment through multiple price fluctuations.
Viktor Prokopenya, founder of VP Capital, also highlighted that the cryptocurrency markets reward patient investors who can withstand the inherent market volatility. He cited the example of Bitcoins value falling from $20,000 to $3,000 in 2017 and noted that seasoned investors understand that the market will bounce back despite periods of instability.
Following the collapse of Terras LUNA crypto and its UST stablecoin in May 2022, which led to a fall in Bitcoins price, Mike Novogratz, CEO of Galaxy Digital, commented that volatility is likely to continue and the macro situation will remain challenging.
Each Bitcoin is basically a computer file which is stored in a digital wallet app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
You can buy Bitcoins using real money. You can sell things and let people pay you with Bitcoins. Or they can be created using a computer.
They are valuable because people are willing to exchange them for real goods and services, and even cash. Some people like the fact that Bitcoin is not controlled by the government or banks.
Its legal to use in most countries, but some countries have banned it. Its also important to know that Bitcoin is often used for illegal activities, such as buying and selling illegal goods on the dark web.
The price of Bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls.
Bitcoin mining is the process by which new bitcoins are entered into circulation. It also serves to secure the network in which it operates by verifying transactions to the rest of the network.
Yes, it can be converted to cash in a few different ways. You can sell Bitcoin on a cryptocurrency exchange like Coinbase or Kraken. The cash will be deposited directly into your bank account.
Predicting the future price of Bitcoin is a complex task that requires a deep understanding of various factors. While the potential for growth is significant, its important to remember that the cryptocurrency market is highly volatile and unpredictable.
As such, these predictions should be taken with a grain of salt, and potential investors should always conduct their own research and exercise caution.
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Bitcoin Price Prediction 2040: An Analytical Perspective - Southwest Journal
Robert F. Kennedy Jr: Bitcoin Energy Concerns Should Not Be Used as ‘Smokescreen’ to Limit Freedom – Decrypt
U.S. Democratic presidential candidate Robert F. Kennedy Jr. has again jumped to defend Bitcoin, endorsing arguments that the environmental impact of the worlds largest cryptocurrency isn't nearly as dangerous as it's reported.
Commenting on Sangha Systems director Daniel Feldmans recent Twitter thread describing how a symbiotic relationship between Bitcoin mining and the energy produced from renewable sources solves problems and makes the other better, RFK Jr. called it an interesting argument.
Sangha Systems is a multi-pronged firm that's launched a Bitcoin mining firm in Illinois called 82 River North and reportedly operates the "resilience token" in collaboration with Aon Insurance.
At the very least, environmental argument should not be used as smokescreen to curtail freedom to transact, he added.
Reciting a catalog of alleged advantages Bitcoin mining brings to the economy, Feldman emphasized that, contrary to popular media narratives, it is a solution to improve the electric grid and lessen reliance on fossil fuels.
The problem, he wrote, is that most renewable energy sites are not profitable without government subsidies.
Feldman further argues that the usual terms of climate debate must turn away from polarization and towards innovation, which is especially relevant in circumstances when green energy investor focus is often not energy sales, but is instead the contrived / creative financial engineering involved in maximizing tax credits.
The flow of these tax credits are controlled by the large banks that get bailed out in times of financial crisis, the very same banks Bitcoin will free us from, said Feldman, adding that Bitcoin mining creates a global market for electricity that will encourage investment into renewable energy projects with a new revenue frontier.
While Kennedys chances of winning the Democratic party's nomination are relatively low, with bookmakers putting his odds earlier this month at around 11%, he's nonetheless drawn the support of many Bitcoin maximalists in recent months.
The 69-year-old politician praised Bitcoin during a keynote address at Bitcoin 2023 in Miami in May, saying it was the Canadian governments move to clamp down on truck drivers protesting COVID-19 restrictions at the beginning of 2022 by freezing bank accounts that helped him understand Bitcoins value.
Kennedy also said that supporting Bitcoin is both an exercise and a guarantee of civil liberties hes committed to protecting.
He later slammed central bank digital currencies (CBDCs), calling them "instruments of control and oppression that are certain to be abused.
Last week, Kennedy revealed he even bought a total of 14 Bitcointwo for each of his seven children.
In recent years, the environmental impact of Bitcoin has been a subject of significant debate and concern, mainly due to the fact that Bitcoin mining, the process through which new coins are created and transactions are verified, heavily relies on energy-intensive computational power.
Additionally, there have been ongoing discussions about implementing more energy-efficient consensus mechanisms to reduce the environmental impact of Bitcoin mining.
One such organization urging Bitcoin-friendly financial services companies to switch to what it calls a cleaner protocol, is Greenpeace USA, however, as Daniel Batten, the co-founder of an ESG focused-fund manager CH4 Capital, recently stated, many of the facts and figures used by the non-profit to demonstrate Bitcoins environmental harm are misleading, if not outright false.
According to data from Cambridge University, global Bitcoin mining operations currently use an estimated 137 TW/h (terawatt hours) per year, which is slightly more than the entire country of Ukraine with 134 TW/h.
To address these concerns, some initiatives have emerged to promote sustainable mining practices and the use of renewable energy sources for Bitcoin mining.
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Robert F. Kennedy Jr: Bitcoin Energy Concerns Should Not Be Used as 'Smokescreen' to Limit Freedom - Decrypt
What is Channel Splicing in Bitcoin’s Lightning Network? – Bitfinex … – Bitfinex
31 Jul What is Channel Splicing in Bitcoins Lightning Network?Posted at 13:34hin Educationbyadmin
Splicing is an advanced feature of the Lightning Network, a second-layer payments network designed to boost the speed, scalability, and efficiency of Bitcoin. Splicing allows users to increase or decrease the capacity of their existing payment channels on the Lightning Network, either by adding or withdrawing funds, without having to close the channel entirely.
Lightning channel splicing is an exciting new addition to Bitcoins Lightning Network which promises to offer a whole new realm of possibilities for Lightning Network and Lightning wallets. So what exactly is channel splicing?
In the Lightning Network, two parties open a payment channel by committing a funding transaction to the Bitcoin blockchain. Traditionally, if one of the parties wanted to add or withdraw funds, they would need to close the current channel and open a new one, which could be inefficient and costly due to Bitcoins transaction fees.
Splicing, on the other hand, allows the parties to add or remove funds from an existing payment channel without closing it. The term splicing comes from the notion of cutting and rejoining the channel with added new capacity. Heres how it works:
To add funds (splice in), the participants jointly create a new transaction that spends the original funding transactions output and adds additional funds. This new transaction becomes the new funding transaction for the channel, and the channels capacity is increased accordingly.
To withdraw funds (splice out), the participants create a new transaction that spends the original funding transactions output and sends some of the funds to another on-chain address (effectively withdrawing them from the channel). The remaining funds become the new funding transaction for the channel, and the channels capacity is reduced accordingly.
The splicing operation requires an on-chain transaction, but the channel itself does not need to be closed and reopened, and the channels off-chain transaction history is preserved. This makes it much easier and more efficient for participants to manage their funds on the Lightning Network.
Splicing enhances the flexibility and convenience of the network, creating a more dynamic and seamless user experience. With the increased adaptability provided by splicing, Lightning Network channels can adapt to a wide range of transaction needs, reducing the need for network congestion and on-chain transactions.
Channel splicing greatly enhances user experience on the Lightning Network by introducing a layer of flexibility and efficiency to the management of payment channels. Heres some examples of UX improvements users can expect as channel splicing becomes more widely adopted by wallets and Lightning Service Providers.
Seamless Transactions: With splicing, users can add or remove funds from their channels without closing them. This creates a more seamless transaction experience because users no longer need to disrupt their payment channels to manage their funds.
Reduced Costs: Traditionally, adding or withdrawing funds from a channel would require closing the current channel and opening a new one, incurring transaction fees twice on the Bitcoin blockchain. Splicing significantly reduces these costs because it only requires one on-chain transaction, making the Lightning Network more economically efficient for users.
Efficiency and Speed: Since splicing transactions are simpler than closing and reopening channels, they can be confirmed more quickly on the Bitcoin blockchain. This results in a more efficient and faster user experience.
Flexibility: With splicing, users have the flexibility to adjust their channel capacity based on their current needs. This could be especially useful for businesses or users who see fluctuations in their transaction volume and need to adjust their channel capacity accordingly.
Liquidity Management: By allowing users to add or remove funds without closing the channel, splicing can improve liquidity management. This is particularly useful in scenarios where the users balance in a channel or receiving capacity are running low and they wish to continue transacting without interruptions.
By enabling a more seamless, cost-efficient, and adaptable transaction experience, channel splicing significantly improves the user experience on the Lightning Network.
The concept of channel splicing in the Lightning Network has been around for several years and has been discussed as a key feature to be implemented to improve the functionality of the network. Its more recently begun to gain some traction and we are starting to see the first efforts towards integrating channel splicing emerge from several popular Lightning Network projects, services, and Lightning implementations.
Several Lightning Network implementations, such as LDK (by Spiral, owned by Block), LND (Lightning Network Daemon by Lightning Labs), CLN (by Blockstream), and Eclair (by ACINQ), have been recently implemented advanced features like channel splicing.
Lightning wallets, Lightning Network-enabled exchanges, and other services building on top of the Lightning Network could also benefit from splicing. These could include wallets like Phoenix, Bitkit, and Breez. Among Lightning developers, channel splicing has been discussed and in development by several Lightning Network implementation teams for some time.
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What is Channel Splicing in Bitcoin's Lightning Network? - Bitfinex ... - Bitfinex
$30,000,000,000,000 Wave of Capital Could Send Bitcoin Into Next Bull Run, Says Mark Yusko Heres His Outlook – The Daily Hodl
Morgan Creek Capital Managements Mark Yusko is declaring that crypto spring is already underway and that the approval of a Bitcoin (BTC) exchange-traded fund (ETF) will be the spark that lights the next bull run.
In a new interview with crypto influencer Lark Davis, Yusko says that he believes crypto spring began on June 15, exactly one year after he believes crypto winter ended.
With the market looking for bullish catalysts, Yusko says that a Bitcoin ETF will be hugely positive for BTC and the overall crypto space.
Yusko points out that BlackRock, the biggest asset manager in the world, has virtually a 100% success rate of getting ETFs approved, and will likely continue its streak with its Bitcoin application.
Of course its a good thing. Because it will be approved. BlackRock is 475 and 1. Theyve made 476 applications for ETFs, theyve had 475 approved. This ones going to get approved. Now, does Bitwises or Amuns Do they get theirs first because they were in line first? Im going to say no, and that sucks, but Im going to say theyll be some weird reason why BlackRock goes to the head of the line. Its just the way it is. When you have $10 trillion in assets, you get special privileges.
The Bitcoin bull says that the BlackRock ETF could unleash a $30 trillion market of institutional investors that would then have access to Bitcoin after previously being hesitant due to regulatory uncertainty. If the ETF is able to get one-tenth of 1% of those assets, Yusko says it would certainly move the needle on Bitcoin given its low free float, or BTC that are actually available for trading.
$30 trillion. Lets get one-tenth of one percent. $30 billion. $30 billion on $600 billion, thats not much Mark, that wont do anything. Ah, [but] its not $600 billion. The free float is more like $100-$150 billion. $30 billion on $150 billion? That will move the needle. And if we get 1% instead of ten basis points, thats $300 billion. $300 billion on a $150 billion, thats a big ass number.
When BTC goes back to its all-time high, Yusko says he doubts there will be a long lineup of people waiting to sell. He predicts much less free float and much less sell pressure on Bitcoin once it reaches the $50,000 to $60,000 range.
People get more convinced that they want to HODL forever as the price rises, and they dont panic. So if the price goes back to $50,000 or $60,000, I think theyll be less free float, not more. I dont think theres a lot of people out there that are going to be selling. I think what you see with the daily selling is just the same people buying and selling over and over, the bots, the high frequency traders
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Bitcoin Gold (BTG) gains 60% in one day By Crypto.news – Investing.com
Crypto.news - Bitcoin Gold (BTG), a cryptocurrency infamous for being one of the select few that fell victim to a 51% attack, has been aggressively rising over the last few days.
Bitcoin Gold went from $13.38 on July 30 to $21.41 today, July 31 a 60% rise in one day, CoinMarketCap data shows.
While the increase in price is notable on its own, the increase in volume has also drawn a lot of attention. The volume went from about one million when the price was about to start increasing on July 30 to $347 million on July 31 a 34,600% increase.
Despite the sharp value increase, Bitcoin Golds current price of $19.08 is still a far cry from its all-time high of nearly $500 reached in 2017. The current price is over 95% lower than its record price.
Bitcoin Gold has never fully recovered after its fell victim to a successful 51% attack and a double spend. It was largely inactive even before the attack, with the GitHub repository of its official client lying mostly dormant since 2019.
Bitcoin Gold client contributions chart
There is no clear reason for the sudden rise in Bitcoin Golds price, with the most likely culprit being pure speculation. BTG is currently trading over its resistance at $19.05, and its support is at $13.25 which provides a possible technical explanation for a traders rise in interest in this coin.
This article was originally published on Crypto.news
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Bitcoin Gold (BTG) gains 60% in one day By Crypto.news - Investing.com
Decentralization And Security: How Bitcoin’s Blockchain Protects … – Dataconomy
The blockchain used by Bitcoin is a decentralized, secure system essential for protecting transactions. In a decentralized network, transactions are governed by a distributed ledger maintained by a network of nodes rather than a central authority or middleman.
The complete blockchain is replicated on each node and consensus algorithms validate and record transactions. Blockchain is more censorship-resistant, secure and robust due to this absence of central authority. Decentralization also guarantees that no organization has control over changing the blockchains history, which promotes confidence and transparency in the system.
The consensus processes that makeup Bitcoins blockchain, including Bitcoin stock, are essential for securing and confirming transactions. To add new blocks to the blockchain, miners compete to find solutions to challenging mathematical puzzles using the Proof of Work (PoW) consensus mechanism. The ability to validate transactions is granted to the first miner who cracks the problem, and they also get paid in bitcoins. PoW makes ensuring the blockchain is safe and resistant to efforts at double-spending and manipulation.
On the other hand, Proof of Stake (PoS) is a different consensus process gaining acceptance. In this system, validators build new blocks based on the number of coins they own and stake as security. PoS ensures security and transaction validation like PoW but with lower energy usage.
The immutability and accountability of the Bitcoin blockchain enable trust and transparency. A transaction becomes immutable, which means it cannot be changed or removed, once it is included in a block and then added to the blockchain. This immutability is made possible via cryptographic hashing, in which each block has a distinct hash that encodes its contents and the hash before.
The integrity of the blockchain is maintained since any modification to a block would result in a change to its hash, rendering it invalid. Blockchains transparency also allows anybody to observe all transactions and blocks, improving accountability and offering a verified record of all network events. These characteristics foster system trust and eliminate the need for middlemen in financial transactions.
The Bitcoin blockchain uses cryptographic methods to protect user privacy and guarantee secure transactions. Cryptographic addresses are used to identify users on the blockchain. These addresses offer a degree of pseudonymity, making it difficult to directly identify transactions to particular people.
Personal identities are hidden behind these cryptographic addresses, even if transactions are accessible to everyone on the public ledger. To ensure safe data transfer, each transaction is encrypted using public and private keys. All o this makes Bitcoin an attractive option for secure and private digital transactions.
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Decentralization And Security: How Bitcoin's Blockchain Protects ... - Dataconomy
CME Ether/Bitcoin Ratio Futures Arrive on July 31 – Markets Media
Whats new? Ether/Bitcoin Ratio futures arrive on July 31
Ether/Bitcoin Ratio futures will be available starting July 31, pending regulatory review. The new contract enables traders to efficiently capture the relative value between Ether and Bitcoin in a single trade without slippage and will be cash-settled based on the settlement prices of the corresponding futures contracts.
Similar to inter-commodity spreads, ratio futures can help maintain price alignment between the two underlying contracts, potentially improving the bid-ask spreads for the outright contracts.
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Bitcoin and ether priceshave ralliedas thecryptocurrency market continues to recover in 2023. Bitcoinspriceincreased 81%, while Ethers pricerose 54% since the start of the year. The resiliency of the two leading cryptocurrencies by market capitalization has attracted increasedinstitutional interest for CME Groupssuite of regulated andliquidcryptocurrency products, culminating in record open interest in Q2.
2023 open interest (OI) records:
Source: CME Group View the full recap
Bitcoin futures: Institutional interest continued to rise throughout Q2 as investors sought regulated venues and products to hedge market volatility and manage exposure. Q2 2023 ADV reached 10.6K+ contracts and open interest averaged 14.3K contracts. The number of LOIHs averaged a record of 107 in Q2.
Ether futures: Over 3.1M contracts (156M equivalent ether) have traded since launch just over two years ago. LOIH averaged 62 throughout the quarter. Options on Ether futures have now traded over 10K contracts since their September 2022 launch.
*A Cryptocurrency futures large open interest holder (LOIH) is defined as any entity that holds at least 25 contracts of the respective futures.
View full version of Crypto Insights onlinehere.
Source: CME
Cryptocurrency futures and optionsADV: 38.6K contractsOpen interest: 79.2K contracts
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CME Ether/Bitcoin Ratio Futures Arrive on July 31 - Markets Media
Bitcoin Could be Adopted by Billions of People as White House … – Crypto News Flash
Adoption of Bitcoin and gold can increase significantly as the White House makes clear what its stance is on U.S. partners partnering with the organization.
The BRICS is seeing an influx of new members, as new countries collectively work towards de-dollarization. However, its been unclear where the U.S. government stands, regarding its partners engaging with the BRICS.
The White House has now confirmed that its U.S. partners are not restricted from working with the BRICS. In fact, partners can seek BRICS membership.
In a press briefing held on Monday, the White House press secretary Karine Jean-Pierre was quizzed about the Houses stance on seeking BRICS membership in
Algeria and Egypt, which are two partners of the U.S. have applied to join BRICS and represents kind of a non-alignment force that stands against, kind of, Western hegemony. So how do you feel about this development? Do you welcome this? A spokesperson asked.
In response, Jean-Pierre explained that countries have to take the lead and speak up about their diplomatic engagement. The White House rep secretary also added that its goal is to lead with an affirmative agenda that focuses on demonstrating the benefits of its governance and economic models.
U.S. policy does not ask our partners to choose between the United States and other countries. We have repeatedly emphasized that the U.S. does not want to limit countries partnership with other countries. But we want countries to have choices on how to deliver results to their citizens as well. Karine Jean-Pierre added.
With the U.S. employing less strict rules, and more countries looking to join the BRICS, more alternative currencies might be gaining traction and recording an increase in adoption in the long-term. The likes of Bitcoin and gold are also primed to become key beneficiaries of this change.
As Robert Kiyosaki, the Rich Dad, Poor Dad author, and crypto proponent explained, 41 nations will be attending the upcoming BRICS Summit, scheduled to take place on the 22nd of August.
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At the Summit, Kiyosaki stated that the BRICS could launch its own currency. The introduction of the new currency could threaten the stability of the U.S dollar, Kiyosaki asserted.
The new currency could also be tied to the precious metal gold and this could help to boost the value of the asset. Similarly, Bitcoin could also benefit from this, as a surge in golds value could result in institutional investors seeking out Bitcoin as an alternative store of value.
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Bitcoin Could be Adopted by Billions of People as White House ... - Crypto News Flash