Bitcoin
Dorsey spearheads new defence fund to protect Bitcoin developers from legal woes
The board of the fund would determine which cases and defendants receive assistance With the growth of the crypto scene, Bitcoin and its larger crypto community has become even more targeted by regulatory bodies and consequently suffered huge settlements in fines. A new initiative by three Bitcoin proponents is seeking to improve this situation. Former Twitter chief Jack Dorsey, alongside two other Bitcoin advocates Martin White and Chaincode Labs co-founder Alex Morcos will make up the board on a new fund, Bitcoin Legal Defense Fund, meant to provide “a coordinated and formalized response to help defend developers.” A ‘bulwark’ for software developers According to an email sent to Bitcoin developers yesterday, the new fund would be dedicated to protecting dev...
Top or bottom? Traders at odds over whether Bitcoin will keep rising
Bitcoin (BTC) touched $44,000 a second time on Jan. 12 amid increasing divergence of opinion about whether the price bottom is “in.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed the $44,000 mark acting as local resistance Thursday, following forecasts that $46,000 could soon return. Bitcoin stayed broadly higher overnight following the previous day’s United States inflation data, but for some, now was not the time to become overly confident. “BTC starting to feel a little toppy (local), although asks are diffused through some key resistance levels,” Twitter account Material Indicators commented as part of a recent update. “Some bitcoin bulls may show up to clear a few levels, but the whole herd i...
Report: South Africa ranks 21st in crypto ownership
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Northwest Arkansas offering $10K in Bitcoin to attract remote workers
The Northwest Arkansas Council, consisting of business leaders aimed at promoting development in the region, has announced a crypto incentive program to bring in tech professionals and entrepreneurs willing to work remotely. In a Wednesday announcement, council president and CEO Nelson Peacock said the area would be looking to expand its range of talent in the tech industry by offering $10,000 in Bitcoin (BTC) — roughly 0.23 BTC at the current price of $43,610 — in addition to a bicycle or membership to arts and cultural facilities. The “Bitcoin and a Bike” program, the next stage of the area’s Life Works Here initiative, is specifically aimed at embracing professionals in blockchain-related fields. The program will offer the crypto incentive to qualifying individuals willing to live for a...
Price analysis 1/12: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins appear to have started a relief rally. Glassnode data suggests that Bitcoin addresses with a non-zero balance have risen to about 40 million, indicating increasing adoption by retail traders. Edelman Financial Engines founder Ric Edelman said that the number of Americans owning Bitcoin could rise from 24% currently to one-third by 2022. He expects this to happen as “Bitcoin is becoming more and more mainstream. People are hearing about it everywhere — it isn’t going away.” Daily cryptocurrency market performance. Source: Coin360 The investors buying Bitcoin seem to be in it for the long haul if the outflows from major exchanges are any indication. CryptoQuant data shows outflows of 29,371 BTC on Jan. 11, the highest withdrawals since Sep. 10. Could the...
Bitcoin funding rates stay negative as BTC price spikes to $43.5K
Bitcoin (BTC) surged almost $1,000 in minutes on Jan. 12 as encouraging signs emerged from exchanges. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $43,468 Wednesday, its highest since Jan. 6. The pair had been due to continue volatile moves, traders said, with more and more favoring a push higher rather than a renewed downside. This would likely come in the form of a “short squeeze” against latecomer shorters, they argued, and Wednesday’s sudden wick higher appeared to support the theory. Funding rates across derivatives platforms stayed either neutral or negative during the volatility, further hinting that the market had been overly betting on fresh losses. Bitcoin funding rates chart. Source: C...
Bitfarm reveals it bought the dip during the early January market slump
The mining firm received a $100 million loan from Galaxy Digital at the end of last year Canada-based bitcoin miner Bitfarms said in a statement released on Monday that it purchased bitcoins as markets sunk by as much as 12% in January’s first week. Explaining the company’s strategy, CEO and founder Emiliano Grodzki held that Bitfarms intends to stack as much Bitcoin as possible in the shortest time possible. “With the dip in bitcoin, we seized the opportunity to move cash into BTC,” the Bitfarms executive explained, adding, “Our guiding company strategy at Bitfarms is to accumulate the most Bitcoin for the lowest cost and in the fastest amount of time for the benefit of our shareholders.” The mining firm had minted 363 BTC last month and 339 i...
Here’s why Ric Edelman believes a third of US adults will be invested in Bitcoin by next year
The financial author detailed in his latest publication that he is optimistic the US SEC will finally give the green light to a Bitcoin ETF In an interview on CNBC’s Halftime Report, the founder of Edelman Financial Engines backed his projection that a third of American adults will be bitcoin holders by the end of the year. Edelman, author of several books in the personal finance space, penned in his latest book titled The Truth About Crypto his predictions for the crypto sector this year. Edelman weighs in on bitcoin adoption and spot bitcoin ETF decision Notable among his predictions is that the number of American adults that own bitcoin will grow from nearly a quarter to a third. Edelman noted that the bitcoin adoption rate is high, and many people are being drawn to digital asset...
3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto
On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp — andre (@andre) January 10, 2022 Iguodala j...
Bitcoin down 11% over the last 7-days: Here’s Galaxy Digital chief’s projected BTC price floor figure
The ex-hedge fund manager predicted last month that Bitcoin could hold at $42,000 Financier and crypto investor Mike Novogratz recently told CNBC that he expects to see Bitcoin fall even further to a price floor much around $40,000 or $38,000. Bloomberg reported the change of heart from the crypto bull who recently opined that Bitcoin could hold at $42,000. Delving into the projection, Novogratz stated that he would put a hold on buying crypto again. The Galaxy Investment chief added that there is a substantial amount of institutional money, ready to pounce on the opportunity to get into the space. “(There is a) tremendous amount of institutional demand on the sidelines,” he said. He insisted he is not tense about the medium-term performance of cryptocurrencies even though...
Bitcoin drops below $40K for first time in 3 months as fear set to ‘accelerate’
Bitcoin (BTC) fell below the landmark $40,000 mark for the first time since September 2021 on Jan. 10, heightening a rout that began six weeks ago. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bollinger bands step in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD encountering predictable volatility as bears finally steered the market back into the $30,000 zone. The move had been long preempted, with forecasts even calling for an identical floor to that of July — just below $30,000. “And we’re dipping into the $40K region for Bitcoin, through which the fear will only accelerate even more,” Cointelegraph contributor Michaël van de Poppe reacted. For trader and analyst Rekt Capital, the first point of support lay in the lower of the tw...
These 3 cryptocurrencies are taking an even bigger hit during Bitcoin’s price slump
The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. BTC/USD weekly price chart. Source: TradingView Nonetheless, the losses suffered by Bitcoin still appear less than that of some of its top crypto rivals’ performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, Ripple (XRP), the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top 50 digital assets have experienced bigger losses between 15% and 30% in the last week. They i...
