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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.

Welcome To Latam Insights Encore, a deep view of Latin America's most relevant economic and cryptocurrency-based news last week.

Latam Insights Encore: Paraguay Anti-Bitcoin Mining Stance Is a Net Negative for the Nation's Development

Bitcoin dropped by 6% to $54,600 during weekend trading, despite recovering some of the losses incurred at the end of last week.

Bitcoin Dips Below $55,000 as 'Significant' Selling Expected in Months Ahead

Economist and staunch Bitcoin (CRYPTO: BTC) critic Peter Schiff recently expressed concerns over ETF investors being set up to bear the brunt of losses. What Happened: On Sunday, Schiff took to X to share his observations on the current trading patterns and ETF inflows of Bitcoin.

Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up Bitcoin ETF Investors To Be The Bag Holders'

Just like oscillators, moving averages (MAs) are indispensable tools in technical analysis, providing traders with insights into price trends and potential market reversals. In this learning and insights article, we'll delve into the history, types, and application of moving averages leveraged in bitcoin trading, highlighting their significance and utility in the crypto market.

Unveiling Moving Averages: Essential Tools for Bitcoin Trading

Dogecoin

Ether

Leading cryptocurrencies sank further Sunday, erasing gains made from the relief rally in the days prior. Cryptocurrency Gains +/- Price (Recorded 8:30 p.m.

Bitcoin, Ethereum, Dogecoin Sink Again: King Crypto On Cusp Of Downside Breakout If $56K Is Lost, Says Analyst

Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin's value could soar to $1 million by 2030. Highlighting the cryptocurrency's decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions.

Jack Dorsey Envisions Bitcoin Replacing US Dollar — Foresees BTC Reaching $1 Million

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news during the last week. In this issue: Paraguay raises bitcoin mining power fees, Bolivia talks about the utility of stablecoins as dollar alternatives, and Kavak tokenizes debt in Brazil.

Latam Insights: Paraguay Raises Bitcoin Mining Power Fees, Bolivia Praises Stablecoins as Dollar Proxy

Germany has divested 1,400 bitcoin from its government reserves, reducing the total from 41,226 BTC to 39,826 BTC. Meanwhile, bitcoin has declined 1.7% against the U.S. dollar over the past 24 hours, hovering just above the $57,000 mark.

Germany's Bitcoin Wallet Dips Below 40,000 BTC After Weekend Transfer

A trader who nailed the May 2021 Bitcoin collapse believes BTC could see more downward price action before igniting a renewed rally en route to new all-time highs.

Trader Predicts 400% Bitcoin Rally Following Correction, Says Short-Term BTC Pain Could Lead to Long-Term Gain

On July 4, 2024, the Bitcoin network experienced its second-largest difficulty reduction since the year's start. The mining difficulty decreased by 5%, falling from 83.67 trillion to 79.5 trillion. Second Major Difficulty Reduction of the Year Hits Bitcoin Network Bitcoin's mining difficulty dropped by 5% this week at block height 850,752 on July 4.

Bitcoin Network Sees Second Largest Difficulty Reduction of 2024

Credible Crypto, a renowned cryptocurrency analyst, forecasts an approximately 80% surge for Bitcoin (CRYPTO: BTC) following the current correction phase. However, he cautions about a possible intensification in the correction's momentum.

Bitcoin's Bullish Future: Analyst Predicts 80% Rally After Correction, But Here's The Catch

Two days ago, a dormant bitcoin wallet moved over 1,000 bitcoins on July 5, and since then, two more notable awakenings have occurred in the past 48 hours. On Saturday, an address created in December 2013 spent approximately 149.99 BTC for the first time in over a decade.

Two More Sleeping Bitcoin Addresses Wake From Slumber, Moving 1,045 BTC

Over the past 11 years, dating back to 2013, bitcoin has typically experienced positive performance in July, with five of those months seeing gains exceeding 16%. This year, however, July is shaping up to be negative.

July Slump for Bitcoin: What Historical Trends Reveal About Upcoming Months

Ki Young Ju, the CEO of blockchain analytics platform CryptoQuant, says he's expecting the current Bitcoin (BTC) bull run to last until the first few months of 2025.

CryptoQuant CEO Says Bitcoin Bull Market Will Continue Until Next Year – Here's His Price Target

The bitcoin price is braced for the U.S. budget deficit to increase by 27% next year, to $1.

‘Worst In History'—Bitcoin Suddenly Hurtling Toward A $1.9 Trillion Shock After Huge Price Crash

Cryptocurrency analysts of Coinidol.com report, the price of Bitcoin (BTC) has started its fall after buyers failed to sustain the price above the 21-day SMA on July 1.

Bitcoin Recovers From Its 56,000 Dollar Low Amid Gloomy Sentiment

The German government recently intensified its bitcoin sell-off, followed by a surprising buyback, highlighting the chaos in their bitcoin strategy.

German Lawmaker Demands Strategic Overhaul Amid Bitcoin Sell-Off Chaos

Two very early Bitcoin owners have suddenly shifted tens of millions of dollars in BTC after more than 10 years of dormancy. Data from the whale-watching bot Whale Alert reported the abrupt awakening of an ancient Bitcoin wallet that moved 1,004 BTC worth $56.92 million after being dormant for 10.6 years.

Ancient Bitcoin Whales Wake Up From Slumber To Move Over $58,000,000 in BTC After a Decade: On-Chain Data

A veteran trader says he's hesitant to flip bullish on Bitcoin (BTC) just yet considering the possibility of another November 2018-style crash.

Top Trader Warns of November 2018-Style Capitulation for Bitcoin After ‘Massive Range Breakdown'

Economist and gold advocate Peter Schiff warns of a continued bitcoin decline, stating that “this bear market is a long way from over.” He predicts significant price falls for both bitcoin and ethereum, suggesting a potential crash if critical support levels fail. “It's a long way down,” he said.

Peter Schiff: Bitcoin Bear Market Has Much Further to Go, Ether to Crash to $1,500

Chainlink

A closely followed crypto analyst is issuing a warning, saying that one popular altcoin could be due for a significant correction.

Crypto Trader Says Blue-Chip Altcoin Could Nosedive by 45%, Updates Outlook on Bitcoin

Rich Dad Poor Dad author Robert Kiyosaki predicts an imminent economic crash followed by a significant bull market where bitcoin could easily reach $10 million per coin, gold could reach $15,000 an ounce, and silver possibly $110 an ounce. Kiyosaki suggests this cycle is inevitable due to declining trust in fiat currencies and historical precedents.

Robert Kiyosaki Predicts $10 Million Bitcoin and $15,000 Gold After Major Market Crash

Fundstrat's head of research, Thomas Lee, has doubled down on his bitcoin price prediction of $150K by year-end, post Mt. Gox distribution. He expects “a pretty sharp rebound” for bitcoin in the second half of this year, citing the resolution of the Mt.

Fundstrat's Tom Lee Predicts ‘Pretty Sharp Rebound' for Bitcoin — Expects to See $150K BTC This Year

Over the weekend, a prominent personality in the bitcoin and blockchain sector, Bruce Fenton, addressed Jack Dorsey, CEO of Block, Inc., through a post on the social media platform X.

Bitcoin Proponent Bruce Fenton Calls Out Jack Dorsey Over Censorship Allegations During Twitter Tenure

As of now, the price of bitcoin has decreased by 23.4% from its peak of $73,737, reached on March 14, 2024, about four months ago. Metrics indicate that this is the longest period in bitcoin's history without a 25% decline during a bull market.

News for Bitcoin Crypto (BTC)