Cryptocurrency

In Saylor’s video, Andy Dufresne puts on a gramophone record and, instead of the opera, he starts listening to…Michael Saylor endorsing Bitcoin as the “best crypto asset,” saying that “there is no second best” to Bitcoin. Dufresne turns the volume up to the maximum, and the whole Shawshank prison begins to hear and enjoy Saylor’s Bitcoin message, taken from one of his public interviews.The tweet that goes with the video extract says “It’s time to break free.”However, according to Lark Davis, there is “a literal fee war going on.” All the participants are trying to land as many customers as possible, and they are reducing their ETF fees for the first half-year/year or until $1 billion/$5 billion volumes are reached — that is for BlackRock (NYSE:BLK), Galaxy and Ark Invest fees.As for the other participants, Fidelity has set its Bitcoin spot ETF fee at 0.39%, WisdomTree at 0.5%, VanEck lowered it to 0.25% and Valkyrie 0.8%. Davis commented that all these Bitcoin ETF fees are much lower than the community expected since all these companies are expecting a great demand for their Bitcoin-based ETF immediately, so they are trying to make their product “as appealing as possible…A wave of capital will flow into Bitcoin. Most likely starting this week.”Last week, Bitcoin lost the $45,300 level and crashed by 7% after Matrixport published an article, saying that the SEC regulator is unlikely to approve Bitcoin spot ETFs in January and may suspend it until later this year.Traders started liquidating their positions, wiping approximately $730 million worth of crypto assets off the market, mostly Bitcoin and Ethereum.This article was originally published on U.Today More

HIVE has maintained approximately 1% of the global Bitcoin mining network through 2023, mining an average of approximately 9 Bitcoin per day throughout the calendar year of 2023, by maintaining a growing hashrate over the course of the year, that has generally kept pace with the Bitcoin mining network hashrate growth. With the total daily block rewards of the Bitcoin mining network averaging 900 Bitcoin per day, or 328,500 Bitcoin in a calendar year, HIVE earning 3,260 Bitcoin for calendar 2023 is approximately 1% of the Bitcoin mining network.Throughout calendar 2023 the Bitcoin mining network continued to attract more efficient ASIC machines to compete for the 900 new Bitcoin mined per day, as HIVE’S network hashrate grew from approximately 2 EH/s from the beginning of 2023 to approximately 4 EH/s at the end of 2023. Accordingly, Mining Difficulty1 also increased approximately 100% year over year, from January 1, 2023 to December 31, 2023, as per www.blockchain.com. This is how HIVE maintained approximately 1% of the total Bitcoin rewards mined in calendar 2023.HIVE ended the 2023 calendar year with approximately $17 million in cash and a Bitcoin HODL position of 1,704 BTC. As mentioned in the Company’s December 19, 2023, news release, the Company’s HODL strategy is such that it anticipates to be able to HODL all its Bitcoin until the upcoming Halving which is expected to be in April 2024 after which the number of new Bitcoin mined per day will drop to 450 Bitcoins per day.Bitmain S19k Pro UpdateHIVE also announces that further to its news releases dated November 14, 2023, and December 4, 2023, all 9,800 of the Bitmain S19k Pro Antminers ordered by the Company have shipped. Currently approximately 70% have been installed, and it is expected that 100% of these machines will be installed before January 2024 month-end. After these miners are installed, it is expected that HIVE will have 4.8 EH/s of ASICs with an average fleet efficiency of 28.7 J/TH.In addition, further to its news release dated December 21, 2023, upon the completion of the installation of the 7,000 Bitmain S21 Antminers ordered in December 2023, which will begin in January 2024 and is expected to be completed in June 2024, it is expected that HIVE will have an average fleet efficiency of 25 J/TH and a total of 5.6 EH/s of active mining capacity. More

Businesses of different types, including restaurants and bars, are increasingly incorporating Bitcoin into their payment options. They are showing interest in both on-chain transactions and payments via the Lightning Network, a second-layer technology designed for faster and more cost-effective Bitcoin transactions.On the other hand, the landscape for Bitcoin ATMs paints a contrasting picture. The United States, in particular, has witnessed a downturn in the number of these machines. However, this decline is not universal. Other regions like Canada and the European Union have experienced growth, indicating a mixed response to the infrastructure supporting Bitcoin transactions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Simultaneously, the exchange, in collaboration with its founder Arthur Hayes, declared its intention to send , the leading cryptocurrency, on the same historic lunar journey. Hayes enthusiastically dubbed the mission “Bitcoin to the Moon,” foreseeing its legendary status in the cryptocurrency realm.The collaboration between the crypto world and space exploration represents a significant milestone for both industries, capturing the interest of enthusiasts worldwide. At the time of writing, the launch has already taken place. No problems occurred on takeoff. It can be officially stated: Dogecoin and Bitcoin to the moon!This article was originally published on U.Today More

The chart analysis reveals that after a period of consolidation within a narrowing price range — a pattern that traders often interpret as accumulation — XRP broke down dramatically. The long downward wick signifies a sharp sell-off, pushing prices to plummet swiftly. Such price action is typically indicative of a market where sellers have overwhelmed buyers, leading to rapid liquidations as stop-loss orders are triggered en masse.This sudden downturn has cast a shadow over short-term recovery prospects. With the accumulation phase nullified, the market must now grapple with the new reality of its invalidated bullish setups. This suggests that confidence in the asset’s immediate growth potential has been significantly dented, and it may take some time for investor sentiment to rebuild and for the market to stabilize.However, such drastic price movements often stir the market, leading to increased trading activity. The surge in volatility following such a drop could attract fresh funds and opportunistic traders looking to capitalize on the new lower price levels. Market participants might see this as a discount entry point, potentially injecting liquidity and driving some degree of price correction.However, the tides appear to be changing. The ETH/BTC pair has formed a “higher low” pattern. This pattern is significant as it often indicates a weakening of the previous downtrend, potentially preluding a reversal. The formation of a higher low suggests that is gaining strength relative to Bitcoin, and could be a precursor to an upcoming rally.The chart provided demonstrates this potential turning point. Ethereum’s price, while still exhibiting volatility, shows signs of stabilizing and possibly gearing up for an upward move. The convergence of the moving averages and the leveling off of the RSI suggest that the selling pressure is abating, and the momentum could be shifting in favor of bulls.If Ethereum can maintain this crucial higher low formation, it could entice risk-tolerant investors back into the market, bolstering the sentiment around the Ethereum ecosystem.The chart analysis of SHIB’s recent price action shows a dramatic sell-off, with the asset breaking down below key support levels. The price wick, extending far below the consolidation zone, suggests a rapid and large-scale exit from the asset, resulting in millions worth of SHIB being sold in a short period. The sharp downturn not only startled the market but also effectively nullified the previous accumulation phase, throwing numerous trading setups into disarray.The magnitude of this price drop could be a signal of a broader funds migration, with investors possibly steering away from high-risk meme coins like SHIB in favor of more established and “serious” assets. This shift may be part of a larger derisking trend within the crypto market, as participants seek stability amid economic uncertainty and regulatory scrutiny.This article was originally published on U.Today More

Pending approval, 13 companies are expected to offer ETFs, including BlackRock (NYSE:BLK), the world’s largest asset management firm.Bitcoin’s price grew significantly for most of 2023, spurred by optimism surrounding the spot ETF approval, and it now trades at about $43,622.On the contrary, Bitcoin’s price has always declined in response to pessimistic reports concerning the approval of a Bitcoin spot ETF. The most recent being on Jan. 3, when rumors of Bitcoin spot ETF rejection spooked the markets, and Bitcoin fell roughly 8%.As the crypto market eagerly awaits the SEC decision in the coming week, two possibilities are presented: the SEC might decide to approve or deny.states that regardless of what happens with the Bitcoin ETF, another bullish catalyst lies in wait this year, which is the Bitcoin halving. This bullish event, according to Ali, has historically been a catalyst for major price surges.To back up this assertion, Ali posted a graph indicating BTC’s price performance 365 days after past halvings.The first halving event, which saw BTC mining rewards slashed to 25 BTC, saw the Bitcoin price jump more than 6,000%, per the chart posted by Ali.Meanwhile, Bitcoin saw an average yearly return profile of over 400% in subsequent halving events in 2016 and 2020. While the price of Bitcoin tends to skyrocket in the months after the halving, it is important to remember that past performance does not predict future results.Bitcoin miners currently receive 6.25 Bitcoins for each successfully mined block. This reward will be halved to 3.125 Bitcoin when the next Bitcoin halving happens.This article was originally published on U.Today More

With Bitcoin currently trading at around $44,000 per BTC, Gurbacs noted that ETFs typically debut with a double-digit net asset value (NAV), often around $25. To make Bitcoin exposure more accessible, he suggested a hypothetical launch price of $44 per share, eliminating three zeros from the original .In his post, Gurbacs highlighted the importance of addressing unit bias psychology, emphasizing that some investors are unaware they can own fractional amounts of Bitcoin. He noted that the emotional satisfaction of owning a full share, as opposed to a fraction of BTC, plays a significant role in investor sentiment.With approximately $500 trillion in global assets, even a conservative 0.5% allocation to could result in a substantial $2.5 trillion influx, along with long-term appreciation and additional fund investments, believes the expert.Reports from Fox Business suggest that BlackRock (NYSE:BLK) anticipates the approval of a spot Bitcoin ETF on Jan. 10, aligning with similar sentiments from Katie Wood of Ark Invest.This article was originally published on U.Today More

The withdrawals, ranging from 400 to nearly 1,000 BTC per transaction, caught the attention of industry observers due to their sheer scale. In total, based on data, over 40 such transactions took place, prompting speculation and discussions within the crypto space.The timing of the significant withdrawals is particularly noteworthy, occurring just three days before the imminent decision on the by the SEC. With the official announcement scheduled for Jan. 10, the crypto community is eagerly awaiting the outcome while engaging in various speculations.Kraken, a U.S.-based exchange, is known for its regulatory compliance, being registered as a Money Services Business with FinCEN and supervised by the Wyoming Division of Banking. The sudden movement of from such a well-regulated platform has raised questions about the motives behind these large-scale withdrawals.The massive Bitcoin outflow from Kraken comes at a critical juncture, heightening anticipation for both the ETF decision and the approaching BTC halving.This article was originally published on U.Today More