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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.

The digital asset market tends to underestimate the long-term price impact of Bitcoin (BTC) halvings, according to the crypto index fund management giant Bitwise. Bitwise notes that after the previous halvings in 2012, 2016 and 2020, the price of BTC in the first month went up 9%, dropped 10% and went up 6%, respectively.

Markets Underestimating Long-Term Effects of Bitcoin Halving, According to Crypto Giant Bitwise

Renowned crypto analyst DonAlt has expressed skepticism over Bitcoin's (CRYPTO: BTC) current support level, hinting at a potential drop below $60,000. What Happened: In a April 17 tweet, the pseudonymous analyst voiced concerns about the stability of Bitcoin's support level.

Bitcoin's $60K Support Has Been Tested 'One Too Many Times,' Says Renowned Swing Trader

Periodically, the product comparison website finder.com releases a new price prediction survey focusing on key cryptocurrencies and gathers a wide array of crypto and fintech experts for their perspectives. According to the most recent report on bitcoin forecasts, the panel of experts anticipates that bitcoin could attain a value in the six-figure range by 2024.

Bitcoin to Hit $122,000 in 2024, Predicts Finder's Latest Survey of Experts

Wright dropped the lawsuit against 12 Bitcoin developers after UK court denies he's Satoshi Nakamoto.

Has Craig Wright Finally Given Up His Campaign to Claim Bitcoin Was His Idea?

Ethereum

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $63,000 level on Thursday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $3,000 mark this morning.

Bitcoin, Ethereum Edge Lower Following Jobless Claims Data; Nervos Network Becomes Top Loser

Canaan Inc (NASDAQ:CAN) shares are falling Thursday after the company filed for a mixed securities shelf offering. What Happened: Late Wednesday, Canaan filed a prospectus related to a mixed shelf offering.

Bitcoin-Linked Canaan Stock Is Tumbling Thursday: What's Going On?

As Bitcoin inches closer to its highly anticipated halving event, analysts at JPMorgan (NYSE:JPM) are throwing cold water on expectations of a subsequent price surge. What Happened: Their report, released on Wednesday, argues that the halving has already been priced into the market, potentially leading to a post-halving price decline, The Block reported.

JPMorgan: Bitcoin Price May Drop After Halving Despite Miner Shakeup

In a sit down with Bitcoin Magazine just days before the Halving, CEO of Marathon Digital Holdings Fred Thiel articulates his plan to capitalize on the main byproduct of mining bitcoin: heat.

Marathon Brings The Heat As Bitcoin Halving Approaches

According to recent data, bitcoin transaction fees have significantly increased since the first week of April. Metrics show that the average fee has escalated to 133 satoshis per virtual byte or $19.48 per transaction.

Transaction Fees Soar on Bitcoin Network as Network Braces for Halving

Cryptocurrency markets are showing signs of stabilization, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) bouncing back above the $62,000 and $3,000 marks, respectively. What Happened: The price rebound follows a period of volatility, with hawkish comments from Federal Reserve Chair Jerome Powell impacting investor sentiment.

Bitcoin Defies $165M ETF Outflows, Bounces Above $62,000

The once-niche world of meme coins, inspired by internet jokes and dog-faced avatars, has taken a surprising turn. These digital tokens, often dismissed as whimsical and volatile, are experiencing a surge in popularity, leaving many wondering: are they a quirky fad or a genuine asset class intertwined with the fate of Bitcoin, the granddaddy of cryptocurrencies?

Meme Coins And The Bitcoin Rollercoaster: A Match Made In Mania?

The latest price moves in bitcoin (BTC) and crypto markets in context for April 18, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Dominance Increases, Binance to Re-Enter India

The Bitcoin price has leveled off since yesterday, but left a $255 million trail of liquidations in its wake.

Liquidiations Top $255 Million as Bitcoin Recovers to $63K Ahead of Halving

The Ark 21 Shares Bitcoin ETF (ARKB) has seen two straight days of outflows for the first time since the start of the month.

Ark Invest Bitcoin ETF Sees Second Day of Outflows

Cryptocurrency trader Ali Martinez is highlighting a key resistance level which, if broken, could see Bitcoin (BTC) hitting a new all-time high. Martinez tells his 58,900 followers on the social media platform X that Bitcoin could soar by up to 36% from the current level if BTC manages to climb above a key resistance level.

Trader Says Bitcoin Could Surge by 35% if BTC Overcomes Critical Level, Updates Outlook on Ethereum and VeChain

Santiment, a market intelligence platform for social metrics, sees signs that the crypto crowd believes the bull market has ended, although a recovery might be on the horizon. What Happened: According to Santiment's latest tweet, the 16% drop in Bitcoin's (CRYPTO: BTC) market value since its all-time high of $73,600 on March 14 led to a strong increase of bearish mentions.

Crypto Recovery 'Right Before The Bitcoin Halving Or Shortly After,' Social Metrics Show

04/18 update below. This post was originally published on April 17

JPMorgan Joins Goldman Sachs In Serious Bitcoin Halving Price Warning

Although Bitcoin's halving is expected to result in reduced block rewards for miners, several CEOs of bitcoin mining firms maintain a bullish outlook. In addition to investing in more efficient equipment, miners believe spot bitcoin exchange-traded funds (ETFs) will continue to drive up the value of the cryptocurrency.

Bitcoin Miners Remain Optimistic About Future Despite Anticipated Revenue Loss

Bitcoin's price is expected to decline post-halving as the event has already been priced in, according to JPMorgan analysts.

JPMorgan expects bitcoin's price to dip post-halving, views event as ‘already priced in'

Bitcoin's much anticipated halving will occur tomorrow at approximately 9:30 pm EST. What's a halving?

Best Buys For The Bitcoin Halving

The team explained that the generated profits will be allocated based on the member's hashrate in the 24 hours on the day of halving.

Bitcoin mining firm Foundry plans to redistribute halving ‘epic sat' proceeds

The bitcoin price has fallen in the face of dimming rate-cut optimism, a strengthening U.S. Dollar Index and geopolitical tensions.

Bitcoin hits macroeconomic headwinds as halving approaches

Bitwise's spot bitcoin ETF registered its first net outflows on Wednesday as total net outflows continued for a fourth consecutive day.

Bitwise's spot bitcoin ETF registers first daily outflows as negative streak continues

Cryptocurrency analyst Benjamin Cowen is expressing bearish sentiment on Ethereum (ETH) relative to Bitcoin (BTC) over the short to medium term. In a new video, Cowen tells his 799,000 YouTube subscribers that the Ethereum/Bitcoin (ETH/BTC) pair has further room to fall.

Ethereum Primed To Bleed Against Bitcoin for Longer Before Bull Phase Sets In, Says Benjamin Cowen – Here's Why

The bank's analysis of open interest in bitcoin futures shows that the cryptocurrency is still considered overbought.

News for Bitcoin Crypto (BTC)