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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.

An argument for why tax treatment of bitcoin is a massive disincentive for its use in commerce.

The Urgent Need for Bitcoin Tax Reform to Encourage Everyday Use

Remy St Felix was sentenced to nearly half a decade in prison after robbing Bitcoin owners at gunpoint along with a ring of accomplices.

Florida Man Hit With 47 Years in Prison Over Violent Home Invasions to Steal Bitcoin

U.S.-listed bitcoin miners fell in the first half of the month as the world's largest cryptocurrency loitered below $60K and the network hashrate returned to pre-halving levels, the report said.

Bitcoin Mining Profitability Remains at All-Time Lows as Prices Fall, Hashrate Rises, JPMorgan Says

If the Fed decides to cut rates by 50 basis points, the market for risk assets, including bitcoin, could react positively, a Bitwise analyst said.

Fed now expected to cut rates by 50 bps this week, giving boost to bitcoin, Bitwise analyst says

For some, it may be a cost they are willing to bear to avoid the noise. For others, it's an unintended consequence that adds to living costs.

Residents of a Norwegian town complained about a Bitcoin mine's noise; now that it's shut down, they face a 20% energy bill hike

The open-source Bitcoin education platform founded in El Salvador moves two members of its in-house talent — one a native Salvadoran — into supervisory positions.

Mi Primer Bitcoin Promotes Two Staff Members to Leadership Roles

Canaccord Genuity has revised its price target for MicroStrategy (NASDAQ:MSTR) from $185 to $173 while maintaining a Buy rating on the stock. The adjustment comes as the business intelligence company continues its aggressive Bitcoin (CRYPTO: BTC) acquisition strategy, which has seen it amass a significant cryptocurrency portfolio.

Canaccord Lowers MicroStrategy Price Target To $173, Cites Ongoing Bitcoin Accumulation

The shutdown of a Bitcoin mining facility in Norway caused a 20% increase in electricity bills for the town's residents. The loss of the mining operation's revenue forced the local power company to raise rates to offset costs.

Bitcoin Mining Shutdown Cause 20% Surge in Electricity Bills

Bitcoin's stagnation amid gold reaching an all-time high shows increased market caution towards risk assets, analysts say.

Bitcoin's stagnation, gold's record high reflect ongoing market caution: Bitfinex

Ethereum

Global crypto investment products rebounded last week, recording $436 million in net inflows, according to CoinShares.

Bitcoin Sees $436 Million Rebound as Ethereum Funds Experience Outflows

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 16, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Pulls Back Before Probable Fed Rate Cut

Although the digital asset market experienced a significant reversal last week, with inflows reaching $436 million, Bitcoin (CRYPTO: BTC) is down to $58,700 in early Monday morning trading. What Happened: After a prolonged period of outflows amounting to $1.2 billion, a shift in sentiment has reignited confidence in Bitcoin, which saw $436 million in inflows, ending a 10-day streak of outflows, according to Coinshares.

Bitcoin Dips Below $59K Despite $436M Net ETF Inflows Last Week

As of Sept. 16, 2024, bitcoin traded at $58,578, within a 24-hour range of $58,231 to $60,366. The leading crypto asset saw a daily trade volume of $26.95 billion, with a market cap of $1.15 trillion. Despite this high liquidity, bitcoin is struggling to break key resistance levels, as technical indicators show mixed momentum.

Bitcoin Technical Analysis: Mixed Signals Keep BTC Below $60K, Short-Term Rebound Possible

The chief executive of Wall Street giant JPMorgan, Jamie Dimon, has warned the Federal Reserve and the U.S.

‘The Worst Outcome'—JPMorgan CEO Issues Stark U.S. Dollar Fed Inflation Warning As The Bitcoin Price Suddenly Crashes Under $60,000

Global crypto investment products rebounded with $436 million in net inflows last week led by Bitcoin, according to CoinShares.

Bitcoin leads global crypto investment products' $436 million rebound as Ethereum products struggles: CoinShares

"All eyes now turn to the Fed's interest rate decision," an analyst told Decrypt.

Bitcoin, Ethereum Sink After Another Trump Assassination Attempt and Ahead of Interest Rate Decision

The prices of bitcoin and ether slid amid reports of another assassination attempt on Donald Trump, and Fed rate-cut expectations.

Bitcoin and ether dip after Friday rally amid rate-cut expectations, reports of Trump assassination attempt

"Rarely has the market gone into the Fed meeting with maximum uncertainty (halfway between 25bps and 50bps)," Marc Chandler, chief market strategist at Bannockburn Global Forex

Bitcoin Slips to $58K as Fed Faces Split Rate Cut Expectations as

MicroStrategy has significantly expanded its Bitcoin portfolio, purchasing approximately $1.1 billion worth of Bitcoin.

MicroStrategy Extends Bitcoin Holdings by Buying $1.1 Billion, Further Solidifying Bullish Stance

PLUS: Sony's Soneium blockchain is growing, with Circle announcing that USDC will be listed on the chain.

Bitcoin, Ether Plunge 5% Ahead of Widely-Anticipated Fed Rate Cuts

Pro-Bitcoin (CRYPTO: BTC) President Javier Milei of Argentina has personally presented the 2025 budget to Congress, reflecting his commitment to eradicating the country's persistent fiscal deficit. What Happened: Milei took the unusual step of presenting the budget himself, rather than delegating the task to his economy minister.

Pro-Bitcoin President Javier Milei Presents Argentina's Budget, Dishes Out 'First Truth' Of Macroeconomics: 'Zero Deficit'

Coinmarketcap (CMC) Research and Footprint Analytics have released a thorough report exploring the swift expansion of decentralized finance (defi) on the Bitcoin blockchain. The report delves into Bitcoin's evolving role, driven by innovations that are redefining its potential within the defi space. Bitcoin's Defi Ecosystem Grows: $1.

Bitcoin's Role in Defi Evolves: CMC Research and Footprint Analytics Report

Crypto analyst Michaël van de Poppe has forecast that Bitcoin (CRYPTO: BTC) could potentially skyrocket by a staggering 890% in the current cycle, reaching a value between $300,000 and $600,000. What Happened: Van de Poppe shared his optimistic prediction with his 724,700 followers on social media platform X.

Michaël Van De Poppe Predicts Massive Bitcoin Surge, Says Price May Soar By 890%

A rush of development is happening on Bitcoin without needing to fork the blockchain. Here are a handful of examples.

Bitcoin's Scaling Boom: 5 Projects Upgrading Bitcoin Without Changing Its Code

According to the latest figures, 32 dormant bitcoin transactions have surfaced during the first two weeks of September 2024, with a hefty 2,253.54 BTC spent so far. When it comes to the biggest spenders, btcparser.com shows wallets dating back to 2016 took the lead, moving a total of 1,549.51 BTC through nine separate transactions.

News for Bitcoin Crypto (BTC)