Tag Archives: Bitcoin

Tim Draper is at it again with his wild bitcoin predictions, and we can’t help but love him for it, but it seems like he’s resorting back to previous thoughts, and we can’t help but wonder what happened to the newfound confidence he appeared to be displaying when 2019 vanished.Why Is Tim Draper Backtracking?At the end of last year, Draper confidently stated that he thought bitcoin would potentially reach $250,000 by the time 2020 was over. That gave bitcoin just over a year to spike by nearly...

A Chinese city known as Ya’an is asking all its bitcoin and crypto miners to use up all its excess hydropower.Ya’an: Use Up Our Water!Ya’an is known as being one of the biggest bitcoin mining hubs in the country of China. It has recently put out a notice telling all crypto miners that there is a surplus of hydroelectrical power, and it wants to see it used up before the summer, which is typically a very rainy season for those living in the area. The rain will provide more water to be utilized...

The good news has arrived, folks. Bitcoin – the number one cryptocurrency by market cap – has broken $7,700 in what looks like a continuation of its recent bullish behavior.Bitcoin Has Shot Up By $200The good news is that the currency is consistently rising and experiencing what appear to be daily spikes. Bitcoin has jumped from $7,500 to about $200 higher since late last week. Everything has been pumping as of late, with assets like Ethereum breaking $190 for the first time in months and...

Bitcoin price started a fresh increase and traded above the $7,655 resistance against the US Dollar.It is currently preparing for a sharp rally above the $8,000 resistance area.There was a break above a key ascending channel with resistance near $7,820 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).The pair could correct in the short term, but it is likely to find support near $7,655.Bitcoin price is gaining bullish momentum above $7,655 and $7,700 against the US Dollar....

The bitcoin halving scheduled for this coming May is likely to give rise to a new bout of crypto millionaires, analysts claim.Will the Halving Make Hodlers Rich?Over the years, bitcoin has earned a reputation for boosting one’s wealth. At the same time, its volatility has also struck fear into the hearts of traders everywhere. It’s just as easy to become extremely rich with crypto as it is to become broke. Your crypto has as much chance of going up as it does of disappearing overnight.But...

Everybody keeps making such a big deal about how volatile bitcoin has been this year, but the fact is that it’s held up quite well in comparison to many other assets and commodities… including oil.Bitcoin Is Stronger Than Oil Right NowAs we all remember, oil experienced a serious drop last Monday. An expiring futures contract went negative and brought oil prices down below zero for the first time in the industry’s history. This was made even more drastic in the sense that many traders appear...

No doubt, bitcoin has had a very up-and-down year. It initially began in the low $7,000 range – where it ended 2019 – before falling into a high $6,000 position.Bitcoin Is Going to Hit It BigFrom there, political tension between the U.S. and Iran brought the currency to $7,000 all over again, and the currency continued to spike from there. It wasn’t until the coronavirus pandemic struck every global market in early March that the currency began exhibiting bearish behavior. It struck the...

No doubt bitcoin has gone through a rough couple of months this year, but then again, so has every asset.Bitcoin Could Be Big Again SoonIt seems like everywhere you look – whether it’s Asia, America, Europe, etc. – people are dealing with the circumstances surrounding COVID-19. The virus has done harsh damage to the global economy, resulting in several assets and markets falling by thousands of dollars since early March.However, some analysts believe this won’t be bad for bitcoin in the long...

Bitcoin has had a rough year thus far, but now the currency is showing strong signs of recovery, and many enthusiasts and traders believe this year could wind up becoming the new “2017.”Bitcoin Could Reach Its All-Time High AgainAs we all remember, 2017 is arguably bitcoin’s best year in the record books. The currency struck new territory and hit nearly $20,000 to reach an all-time high. Prior to that, the year was marked by consistent gains and bullish behavior that saw the asset gaining...

Is it possible that bitcoin is suddenly spiking because people are fighting back harder than ever against the coronavirus?Bitcoin Is Jumping… And So Are ResidentsWhile this is purely speculative, one cannot help but notice that now, right as people are beginning to protest current stay-at-home orders and stand outside governors’ mansions to herald their right to work, bitcoin has endured a significant rise.Over the past several weeks, bitcoin has been trapped in the doldrums, though things...