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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Digital asset investment products saw inflows surge to $2.2 billion last week, marking the largest weekly increase since July 2023. What Happened: The surge is being attributed to growing optimism surrounding a potential Republican victory in the upcoming U.S. presidential election, as Republicans are generally perceived to be more favorable toward the digital asset sector, according to a Coinshares report.

Bitcoin ETF Inflows Surge To Over $2 Billion Amid Rising Trump Election Odds

A new European Central Bank (ECB) report has stirred controversy by suggesting that Bitcoin (CRYPTO: BTC) adoption results in a redistribution of wealth from latecomers to early investors. What Happened: The paper, titled “The distributional consequences of Bitcoin,” contends that even if Bitcoin's price continues to rise indefinitely, only early adopters would benefit while latecomers and non-holders would suffer significant consequences.

Early Bitcoin Buyers Could 'Impoverish The Rest Of Society,' European Central Bank Paper Claims

Bitcoin has surged towards the $70,000 mark, reaching a high of approximately $69,450 early Monday morning in Asia before settling at $68,768 by mid-morning.

Bitcoin Approaches $70,000 Amid U.S. Presidential Election

Bitcoin options traders are positioning for a bullish outcome following the U.S. election and the Fed's interest rate decision in November.

Bitcoin options traders focus on calls above $80K as election, Fed meeting near

In a working paper, Amol Amol and Erzo G.J. Luttmer from the Federal Reserve Bank of Minneapolis argue that prohibiting bitcoin or imposing specific taxes could help governments implement permanent primary deficits effectively. Their research explores the impact of bitcoin on fiscal policies and offers potential solutions.

A New Fed Working Paper Aims to Rein in Bitcoin With Taxes or Prohibition—Here's Why It's Flawed

The Bitcoin (BTC) price peaked at $69,402 on October 20. The upward momentum was rejected at the psychological price barrier of $70,000.

Bitcoin Price Stabilizes Around $68,000 And Approaches Its Recent High

Dogecoin

Dogecoin (CRYPTO: DOGE) has gained 28% over the past week, prompting traders to forecast a bullish run if Bitcoin (CRYPTO: BTC) breaks out. What Happened: In a recent podcast update, crypto traders DonAlt and CryptoCred linked the performance of altcoins, particularly Dogecoin, to Bitcoin's potential breakout.

Dogecoin Up 28% Over The Past Week And Major Bitcoin Move Could Send It Beyond $0.50, Says Veteran Trader

On Oct. 21, 2024, bitcoin is trading at $68,322, supported by a market cap of $1.35 trillion. The cryptocurrency saw a 24-hour trading range between $68,145 and $69,431, with a trading volume reaching $28.79 billion. Technical indicators from multiple time frames present a mixed picture, highlighting crucial entry and exit points for traders.

Bitcoin Technical Analysis: BTC Faces Critical Resistance Above $69.5K

Crypto analyst Cold Blooded Shiller has highlighted the bullish momentum of Bitcoin (CRYPTO: BTC), suggesting a continuation of the uptrend, where pullbacks should be seen as buying opportunities. What Happened: In a Monday morning post on X, Shiller emphasized that Bitcoin is showing uptrends across all timeframes.

Bitcoin At $68,000 Remains 'An Uptrending Machine:' Technical Analyst Expects One Of These Two Scenarios Next

The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 21, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Peeps Above $69K as Macro Favors Bulls

The Bitcoin price briefly touched a high of $69,227 earlier today, during European trading hours.

Bitcoin Bulls Are Targeting $72,000, Say Analysts

Bitcoin's 7-day moving average (7DMA) hash rate surpassed 700 EH/s for the first time, marking a 13% increase since April's halving.

Bitcoin Hashrate Hits All-Time High as Publicly-Listed Miners' Share of the Network Peaks

A Trump victory almost certainly ensures only one outcome – that crypto securities continue to flourish unchecked.

A Kamala Harris Presidency Could Be Just as Bullish for Bitcoin

Rising Trump odds and pro-crypto policies from the Harris campaign are helping to fuel bullish bitcoin sentiment, according to Bernstein.

Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are ‘screaming risk-on,' Bernstein says

It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Here's why: Hedging Against Their Own Policies Nearly all countries are up to their ears in debt.

Central Banks Are Secretly Buying Bitcoin

Jamie Dimon, the CEO of JPMorgan Chase & Co. (NYSE:JPM), has not shied away from exhibiting his disdain for Bitcoin (CRYPTO: BTC) and has used public platforms to target the leading cryptocurrency over the years. What happened: One of many such attacks came at the Institute of International Finance event (IIF) in October 2021, during which Dimon questioned the very foundations of Bitcoin technology — its hard cap of 21 million.

JPMorgan Boss Jamie Dimon Doubts Bitcoin's 21M Supply Cap Despite 5 Lines In Source Code Imposing The Hard Limit: 'You Guys All Believe That?'

Solana's SOL led gains in leading digital assets in the past 24 hours as risk-on sentiment pushed the market higher. PLUS: The impending U.S. election contributes to increased volatility, with some expecting more gains for bitcoin in the days ahead.

Bitcoin Nears $70K Amid Record Open Interest at $40B as Trump-Harris Election Nears

Several technical indicators for Bitcoin (BTC) flash a breakout above $70,000, as a number of key metrics have flipped on multiple positive signals.

Bitcoin Strength Indicates Fresh Rally as Technical Indicators Flip Bullish

The co-founders of the crypto analytics platform Glassnode believe that Bitcoin (BTC) is primed to head to uncharted territory following an extended consolidation period this year.

Glassnode Co-Founders Name One Catalyst That Could Trigger Bitcoin FOMO, Say Battle for $69,000 Is On

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news from the past week. In this issue, Brazil pushes BRICS to use national currencies instead of the dollar, bitcoin adoption reaches critical levels in El Salvador, and smart contracts achieve legal status in Argentina.

Latam Insights: Brazil Pushes BRICS Away From the US Dollar, Bitcoin Adoption Falters in El Salvador

Bitcoin (CRYPTO: BTC) investors were suddenly waking up after years of dormancy to move around their stash as the leading cryptocurrency gathers upward momentum toward all-time highs. What Happened: On-chain analytics firm Whale Alert reported that a Bitcoin address, dormant for roughly 11 years, transferred 21.87 BTC to another address Sunday overnight.

Quiet Bitcoin Whales, Sitting On A Windfall, Spring Back To Activity — Price Retrace Imminent?

Tesla chief executive Elon Musk has called crypto "interesting and probably valuable" boosting the bitcoin price

Surprise Elon Musk Endorsement Suddenly Sends Bitcoin And Crypto Prices Higher

Before bitcoin's fourth halving, the crypto asset soared to a peak of $73,794 on March 14, as recorded on Bitstamp. During the period from March 10 to April 10, bitcoin's hashprice—representing the estimated daily earnings for 1 petahash per second (PH/s)—fluctuated between $105 and $125 per PH/s.

The Next Big Leap for Bitcoin Miners: What it Takes to Reach $100 Hashprice

The US presidential election is expected to have more impact on the crypto market in the weeks leading up to its result, one expert said.

Bitcoin eyes $70,000 milestone as US presidential election nears

A widely-tracked momentum indicator has flipped positive for the first time since April.

News for Bitcoin Crypto (BTC)