Bitcoin has a lot of fans, but there are some who say it is a fad and others who say it is the future. What many people don’t know is that Bitcoin is actually a lot more than just holding the digital equivalent of gold in a digital wallet. There are over 3,000 transactions happening every second and this number is growing by the second. Bitcoin, and the cryptocurrency market in general, is the future.
On Wednesday, the price of bitcoin plunged as much as 18.5 percent to $3,800 marking a two-month low. Bitcoin has been in a slump since the beginning of the year when it hit a record high of more than $20,000. Bitcoin has continued to fall and reached a lower low of $3,749. On Tuesday, Bitcoin was trading at $3,630 a coin.
This week, the markets have been witnessing several major events. As people prepare to make their final investment decisions before the year-end, the Bitcoin price is the biggest concern. The Bitcoin price has been consolidating for the past few weeks, with a slight rise of the past 48 hours. However, the Bitcoin price has moved on the negative side of the range and is now trading at around the $7000 mark. This is a big concern for the Bitcoin traders and investors, as they are expecting a further rise in the Bitcoin price.
Every Saturday, the Hodler Digest helps you stay on top of all the important news of the week. The best (and worst) quotes, highlights of introduction and regulation, top coins, predictions and more – the week on Cointelegraph in one link.
- 2 News of the week
- 2.0.3 Bitcoin’s mining difficulty just fell by a record 28% – but will this help the price recover?
- 2.0.4 Binance faces regulatory upheaval as lawmakers target global trade
- 2.0.5 Bitcoin.org blocks access to bitcoin software downloads in the UK
- 2.0.6 Strike offers free bitcoin transactions, targeting Coinbase and Square
- 2.0.7 Elon Musk’s latest attempt to pump Dogecoin fails
- 2.0.9 London forkenters Ethereum’s test network, while complexity bombcauses a delay.
- 2.0.11 Stable components are tested: USDT means Commercial Paper Binding
- 2.0.13 slow but not stable India’s stance on bitcoin and crypto-currencies continues to evolve
- 2.0.15 Related Tags:
News of the week
Bitcoin’s mining difficulty just fell by a record 28% – but will this help the price recover?
Bitcoin has fallen the most in terms of mining difficulty – nearly 28%, but one model suggests that prices will not bottom out until October.
The decline is in response to the current exodus of miners from China and the consequent loss of hashrate – this could boost the profits of those miners still active.
Bitcoin closed its third consecutive monthly red candle, meaning BTC/USD is now further away from its valuations in the stock-to-flow model than it has been in over two years. Data fromshows that the world’s largest cryptocurrency fell 40.36% in the second quarter… Biggest quarterly decline in three years.
Plan B said the next six months will be critical or decisive for the stock model in transit, adding: I too always feel a little uncomfortable when the bitcoin price is on the low side of the stock flow model.
Binance faces regulatory upheaval as lawmakers target global trade
Regulatory concerns are mounting for Binance. Japan accused the exchange of operating without the required registration, and increased action in the Canadian province of Ontario led Binance to announce that it would cease operations in that province.
Binance stopped using prompt payments in the UK on Monday, meaning UK customers will take longer to withdraw pounds from the exchange. The decision came days after the Financial Services Authority ordered the exchange to cease all regulated activities in the country. However, this decision was later reversed.
Thailand’s Securities and Exchange Commission and the Cayman Islands Monetary Authority were the latest financial regulators to announce regulatory action against Binance.
As a large global exchange, it is difficult for an exchange to find an appropriate jurisdiction to operate in.
Bitcoin.org blocks access to bitcoin software downloads in the UK
Bitcoin.org prevented UK visitors from downloading Bitcoin Core software and a white paper written by Satoshi Nakamoto.
The decision comes days after a British court ruled in favor of bitcoin’s self-proclaimed inventor, Craig Wright.
He accused Bitcoin.org and its current operator, Cøbra, of copyright infringement for publishing an article about BTC in the UK.
Mr Cøbra waived his right to defend himself to preserve his anonymity and was also ordered to pay a provisional sum of £35,000 (approximately $48,600) in court costs.
The court’s decision is the latest salvo in Wrights attack on people who dispute his claim that he is the creator of bitcoin, Satoshi Nakamoto.
Strike offers free bitcoin transactions, targeting Coinbase and Square
Payment platform Strike has announced that it will allow U.S. customers to buy and sell bitcoin with virtually no fees, against competitors like Coinbase, Square and PayPal.
Strike founder and CEO Jack Mullers says his platform aims to be the cheapest and easiest place on the planet to acquire BTC.
Mullers also lashed out at Coinbase, calling the latter’s fees ridiculous. He added: Make no mistake, buying bitcoins on Coinbase is supporting shitcoins.
In other developments, Coinbase said it plans to list digital assets on its exchange faster than it currently does. And as the exchange looks to strengthen its global presence, it will launch a cryptocurrency app store that will offer products developed by third parties.
Robinhood has filed an application with the SEC to go public. The announcement comes a day after regulators fined the company $70 million for allegedly causing significant and widespread harm to thousands of users.
Elon Musk’s latest attempt to pump Dogecoin fails
The price of dogecoin rose, but did not climb, after it received another boost from Tesla CEO Elon Musk on Thursday.
Musk’s first tweet proclaimed Free the Doge! – causing the fiat cryptocurrency to rise 8.42% to $0.261. A sell-off followed, causing the DOGE/USD price to fall to $0.247.
Less than an hour later, Mr. Musk posted a rather unusual message on Twitter: . Baby doge, doo, doo, doo, baby doge, doo, doo, baby doge, doo, doo, baby doge.
After the second tweet, DOGE/USD rose 5.22% to 0.26 .
That’s modest compared to the wild rise we’ve seen in the past since Musk’s tweets.
London forkenters Ethereum’s test network, while complexity bombcauses a delay.
With the launch of the Ethereum London update on the Ropsten test network, the wait time for miners and stackers on the network is increasing.
Stable components are tested: USDT means Commercial Paper Binding
Are stable parts really stable? Tether’s basket of reserve assets raises eyebrows as new round of support debate begins
slow but not stable India’s stance on bitcoin and crypto-currencies continues to evolve
India’s regulation of cryptocurrencies is shaky at best, biased at worst, but what is India really doing about cryptocurrencies?
After a wild debut, the trading of cryptocurrencies has become far more mainstream, and that the most popular cryptocurrencies have reached record heights. But as the popularity of the market increases, so does scrutiny. That scrutiny has led to a number of Bitcoin exchanges declaring their intentions to delist Bitcoin Cash (BCH), the new cryptocurrency that was created by a hard fork of the original Bitcoin last mid-2017. BTCManager has already reported on how Binance is threatening to delist BCH. Why? Because Binance thinks holders of the new currency are trying to pump it in an effort to drive the price up.. Read more about binance facing probe and let us know what you think.
ethereum pricedid coinbase crash todaybinance usbitcoin newscoinbase crash redditbitcoin price usd,People also search for,Privacy settings,How Search works,coinbase crash reddit,ethereum price,bitcoin price usd,is binance being investigated,binance facing probe,bitcoin mining,binance lawsuit,binance illegal