Bitcoin News

Bitcoin Continues to Rise on Safe Haven Buying

With the Chinese coronavirus remaining at the forefront of many people’s minds, prices of safe haven assets continue to shoot up. And while stocks remain elevated as some investors have reduced their fear of a pandemic, cryptocurrencies such as Bitcoin have gone on a tear. At the time of writing, the Bitcoin price was up 44% on the year, a phenomenal rate of growth. That’s half of last year’s growth, and we’re only halfway through February. Given the likely economic [...]

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More Merchants Accepting and Using Cryptocurrencies

While many people understand that cryptocurrencies have great potential as investment assets, it’s easy to forget that cryptocurrencies such as Bitcoin were originally developed to be used as currencies at point of sale. One of the keys to greater adoption of these cryptocurrencies, then, is increased use by consumers and acceptance by merchants. With all indicators pointing to 2019 being a great year for cryptocurrency acceptance, what might the future hold in 2020? Overall, an estimated $4 billion worth of [...]

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Coronavirus and Crypto: What Will the Effects Be?

With much of the world waiting with bated breath, and often indoors, for a resolution to the Chinese coronavirus crisis, cryptocurrency analysts and enthusiasts are divided on how the health pandemic could affect cryptocurrency prices. There are a number of arguments that can be made for cryptocurrency prices moving either way, and ultimately it will be up to markets to decide which way prices will go. The Bearish Case One of the major reasons for downward pressure on cryptocurrency prices is [...]

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More Central Banks Dipping Their Toes Into the Cryptocurrency Waters

While the Chinese central bank’s digital currency plan is perhaps the best known example of the development of a central bank digital currency, it isn’t the only one. Many smaller central banks have already begun to undertake their own cryptocurrency projects. And while major central banks such as the Bank of England and European Central Bank have downplayed the likelihood that they’ll issue their own cryptocurrencies, they’re undoubtedly looking at China’s digital yuan experiment with great interest. Should China’s [...]

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Will the Chinese Coronavirus Derail China’s Plans to Introduce a Digital Yuan?

China’s digital yuan, perhaps the largest and most important government-backed cryptocurrency project to date, was supposed to launch early this year. Development had been delayed this year, but earlier in January the Chinese central bank stated that its design process, standard-setting, and testing were rapidly nearing completion. But now that many areas of China are under lockdown, will the digital yuan be delayed, perhaps indefinitely? The digital yuan was supposed to be a two-tiered system, with the first tier consisting [...]

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More Cryptocurrencies Available to Use in Point of Sale Transactions

When Bitcoin was first created and released to the public, its intended use was as a currency to use in everyday transactions at the point of sale. But while the novelty of using Bitcoin to purchase a bottle of water appealed to some people, many others wondered what Bitcoin could do that cash and credit cards couldn’t. Perhaps that’s why Bitcoin today is seen more often as an investment asset rather than an actual currency. Part of the reason for [...]

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Regulatory Uncertainty Still Holding Back Cryptocurrency Acceptance Among Mainstream Financial Advisers

Many financial advisers probably look longingly at the great gains made by cryptocurrency investors and wish they had gotten in on the game. Last year Bitcoin made about a 90% gain over the course of the year, tripling the gains that major stock market indices made in what was a great year for stocks. But many financial advisers still remain hesitant to advise their clients to invest in cryptocurrency. In a recent survey, more than half of financial advisers said [...]

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More Analysts Expect Breakout Performance for Bitcoin in 2020

With more and more Bitcoin investment options opening up all the time, and with interest in cryptocurrencies continuing to grow each month, it looks like 2020 could be a breakout year for Bitcoin and other cryptocurrencies. A recent cryptocurrency report published by Bloomberg sets out a bullish case for Bitcoin in 2020, as unease in stock markets could send Bitcoin soaring. We saw how Bitcoin acted just like gold in response to tensions between the US and Iran. Bitcoin really [...]

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Bitcoin Options Trading Begins in Earnest, Sending Bitcoin Price Soaring

Bitcoin options trading began in earnest last week, with CME Group beginning Bitcoin options trading on the CME Globex exchange last Monday. While competitor ICE’s platform Bakkt has been offering Bitcoin options since December, the new competition should further enliven the Bitcoin investment markets. The Bitcoin price soared nearly 10% in the aftermath of CME’s trading start, a good sign for the health of the Bitcoin market and strength of Bitcoin demand. Data from various exchanges showed a significant increase [...]

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Bitcoin Sees Highest-Ever Hash Rate as Outlook for Miners Improves

Bitcoin recently set a new record for hash rate, as miners are getting back into the Bitcoin mining game. The total hash rate surpassed 119 exahashes per second (EH/s) in early January, breaking the previous record of 114 EH/s that had been set back in October. These levels are significantly greater than the levels seen at the beginning of 2019, when they were around 40 EH/s. That’s an indicator that miners are now seeing a renewed case for the profitability [...]

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