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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.

Ethereum

While Wall Street interest has boosted the overall crypto market, William Quigley said it also brings risks.

‘Wall Street Is Greedy': Tether Co-Founder Predicts Next ETFs After Bitcoin, Ethereum

Bitcoin exchange traded funds made their debut in January, but financial advisors have been slow to adopt them.

Advisors ‘wary' of bitcoin ETFs are on a slow adoption journey, says BlackRock exec

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news during the last week. In this issue: Paraguay unveiled a bitcoin mining-centric strategy, Itau Unibanco rolled out crypto trading services for all its customers, and Worldcoin decided to establish a hub in Argentina.

Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers

The week was a rollercoaster ride in the world of cryptocurrency, with notable figures making waves and bold predictions. From Edward Snowden‘s jab at Senator Elizabeth Warren's anti-Bitcoin stance to a crypto trader's high-risk gamble, the world of digital currencies never ceases to amaze.

'Rich Dad Poor Dad' Author Says Bitcoin Simplest Way To Become Millionaire, GameStop Implementing Bitcoin Treasury Strategy And More: Top Crypto Updates This Week

Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin, the original cryptocurrency. By leveraging Bitcoin's blockchain in a new and innovative manner, Ordinals bring unique value propositions and helps to revitalize Bitcoin's developer community.

An Introduction to Bitcoin Ordinals

Popular on-chain analyst Willy Woo is breaking down the drivers powering the current Bitcoin (BTC) drawdown. Woo tells his 1.1 million followers on the social media platform X that Bitcoin OGs, or early, long-term BTC holders, are heavily unloading their stacks.

Here's What's Driving the Current Bitcoin (BTC) Correction, According to On-Chain Analyst Willy Woo

Cryptoassets continue to make headlines and generate controversy as the 2024 Presidential race continues to escalate and heat up. In addition to candidates rapidly turning to and embracing the crypto industry – former President Trump is accepting crypto contributions and the Biden White House recent overtures to the industry – legislative efforts have accelerated.

Why The U.S. Should Focus On Bitcoin Mining Policy

Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy bitcoin despite the cryptocurrency's high prices. “I become frustrated encouraging people to buy bitcoin. I receive so many lame excuses,” he said, emphasizing that although the current price is high, it is not as high as it will be in the future.

Robert Kiyosaki Frustrated by ‘Lame Excuses' to Avoid Buying Bitcoin – Foresees Significant Price Rise

Meanwhile, Trump again expressed his support for the crypto industry in a speech last night on the politician's 78th birthday.

Biden admin officials, Mark Cuban, and more to attend crypto roundtable hosted by Rep. Ro Khanna: Bitcoin Magazine

The company has supported several blockchains in the past through running validator nodes, including Ethereum, Flow, Polygon, and more.

T-Mobile owner Deutsche Telekom will soon mine Bitcoin in addition to running nodes

The proposed meeting, led by U.S. Congressman Ro Khanna, is set to discuss how to keep Bitcoin and blockchain innovation inside the U.S.

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

The bitcoin hashing power marketplace, Nicehash, has launched custom software for ASIC miners optimized for its mining platform. The firmware is designed to help miners drive greater efficiency from ASIC devices and increase revenue.

Nicehash Partners With Marathon to Launch Custom Firmware for ASIC Bitcoin Miners

Bitcoin, along with other major cryptocurrencies ethereum and XRP XRP , have rocketed higher this year (with a China earthquake potentially about to cause bitcoin price chaos).

‘Stealth Erosion'—IMF Issues ‘Striking' U.S. Dollar Collapse Warning As The Fed Primes Bitcoin, Ethereum And XRP For A Crypto Price Boom

The price of Bitcoin (BTC) has fallen below the moving average lines, but the bulls are trying to stop the decline above the 50-day SMA.

Bitcoin Price Sinks But Remains Above The $66,000 Support Level

Seasoned trader Peter Brandt is expressing bearish sentiment on Bitcoin (BTC) as the flagship crypto asset's price hovers about 10% below the all-time high reached three months ago. Brandt tells his 729,100 followers on the social media platform X that Bitcoin is exhibiting a bearish chart pattern on the daily time frame.

Veteran Trader Peter Brandt Issues Bitcoin Alert, Says BTC Flashing Bearish Signal – Here Are His Targets

Global asset management firm Alliance Bernstein's analysts predict that the price of bitcoin could soar to $200,000 by 2025, $500,000 by 2029, and an astounding $1 million by 2033. “We believe bitcoin is in a new bull cycle,” they said.

Analysts Predict BTC Hitting $200,000 Next Year and $1 Million by 2033 — ‘We Believe Bitcoin Is in a New Bull Cycle'

Canadian musician Drake is on the brink of a significant financial loss as his bets on the NHL and NBA finals could cost him $1 million worth of Bitcoin (CRYPTO: BTC). What Happened: Drake placed two separate $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective Stanley Cup and NBA finals.

Drake Stares Down Potential $1M Bitcoin Loss Amid NHL, NBA Bet Disappointments

Hunter Horsley, co-founder and CEO of Bitwise, a San Francisco-based cryptocurrency asset management firm, declared that the “digital gold” narrative limits bitcoin's reach as an investment asset.

Bitwise CEO: Bitcoin Should Move on From ‘Digital Gold' Narrative as It Reaches Mainstream Adoption

Bitcoin prices retreated today, falling to their lowest in nearly a month as various factors combined to fuel their latest declines.

Bitcoin Prices Approach $65,000 To Reach Lowest Since Mid-May

Felix Ulloa, Vice-President of El Salvador, stated that the government has considered de-dollarizing the country and returning to its national currency, the colon. However, he said that it would be too costly. For Ulloa, bitcoin presents an opportunity to liberate the country from central banks and fiat currency.

El Salvador Views Bitcoin as a Tool to Liberate the Nation From Fiat Currencies

Dogecoin

Cryptocurrency markets are trading in the red, with Bitcoin touching the sensitive $65,000 level and mixed opinions about future price trajectory. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $65,615.96 -1.7% Ethereum (CRYPTO: ETH) $3,411.62 -2.4% Solana (CRYPTO: SOL) $142.05 -4% Dogecoin (CRYPTO: DOGE) $0.1339 -5.7% Shiba Inu (CRYPTO: SHIB) $0.00002002 -6.4% Notable Statistics: Coinglass liquidations data shows Bitcoin's short liquidations at the lowest since June 9.

Bitcoin, Ethereum, Dogecoin Drop Further: 'Chop For Rest Of The Summer

The global investment firm Bernstein estimated Bitcoin will hit $200,000 by 2025, revising its price target from $150,000 in March.

Bitcoin Price Will Hit $200,000 in 2025, MicroStrategy Will Outperform: Bernstein

Bitcoin's (CRYPTO: BTC) price volatility has attracted contrary trader opinions for its upcoming price trajectory. What Happened: Crypto trader Titan Of Crypto forecasted a potential bounce in Bitcoin's price as it is trading in the support zone.

What's Next For Bitcoin? 'Bounce Incoming,' Says One Trader But Not Everyone Agrees

Stacks stopped producing blocks for about nine hours early Friday, causing a price plunge in the Bitcoin layer-2's token as well. Here's why.

Bitcoin Layer-2 Network Stacks Halted for 9 Hours—What Happened?

In a recent report by CoinSpeaker, Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has championed Bitcoin (BTC) as the most straightforward route to millionaire status. He also perceives the cryptocurrency as a shield against inflation and the looming economic crisis in the United States.

News for Bitcoin Crypto (BTC)