Best Crypto Traders Official

2021-07-05 09:28:54 ​​BTC: $34,329.93 (-2.37%)

Bitcoin network undergoes largest difficulty drop ever by nearly 28%

Quick Take:
- The Bitcoin network’s mining difficulty has decreased, taking into the account the recent drop in hash rate.
- This latest difficulty adjustment was the largest in its history.

The mining difficulty of the Bitcoin network has dropped by 27.9%, as the network adjusts to the massive drop in hash rate. This is the biggest decrease in mining difficulty since the network went live in 2009 — and ended up even higher than last week's estimates.

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2021-07-03 10:32:54 ​​ Bitcoin mining difficulty just fell by a record 28% — But will this help BTC price recover?

Bitcoin-BTC has recorded its biggest mining difficulty drop of nearly 28% on July 3, but one model suggests that the BTC price will not bottom until October.

In the tweets on July 2, investment manager Timothy Peterson flagged the relationship between Bitcoin price and hash rate as arguable evidence that the dip is not over.

Hash rate model: Long road ahead to Bitcoin bottom:

It is a classic mantra among Bitcoiners that “price follows hash rate” — but if that is true, one model charting the phenomenon is painting a sobering picture of future price behavior.

Timothy Peterson noted that the relationship between price and hash rate is “useful” when it comes to marking macro price tops.

Pick your end-of-year price showdown.
The model is not the only source catering to a return to form for Bitcoin in the latter half of the year.

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2021-07-01 10:34:12 ​​ Countries, Regulations, and Cryptocurrencies: Why adopting Bitcoin is difficult for many countries

June was pretty significant for Bitcoin and other cryptocurrencies as two countries gave a very different perspective over this digital coin.

First, it was El Salvador which became the first country in the world to adopt Bitcoin as a legal tender.
And on the other side China which carried out a massive crackdown on the digital coin and cryptocurrencies asking its financial institutions including banks and online payment firms do not provide any cryptocurrency-related services.

Many countries are still in a cliffhanger on which side they should choose concerning Bitcoin and cryptocurrencies. But, even though there have been various opinions regarding digital coins and tokens, certain features still stop cryptocurrencies from going mainstream and challenging the fiats.

1. Image marred by scams and criminal activity.
2. The technological inefficiency and the "Trilemma".
3. Scalability Issues.
4. Regulatory Clarities and Issues.
5. Lack Of Skilled Talent
6. The ESG Factor – Bitcoin and the Environmental cost
7. Cryptocurrency's volatility is vicious

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2021-06-30 10:17:26 UK’s NatWest bank limits transactions to crypto exchanges

As the crypto crackdown continues in Britain, another high street bank has intensified its efforts to curtail its customers' use of digital assets.

The Natwest Group has reportedly capped the daily amount its customers can send to cryptocurrency exchanges due to concerns over investment scams and fraud, according to a June 29 report from Reuters. However, it was not revealed what those new limits were in terms of fiat currency transfers.

The spokesperson for NatWest stated that it has recently seen a high level of cryptocurrency investment scams targeting its customers, particularly through social media sites, addi:

“To protect our customers from the criminals exploiting these platforms, we’re temporarily reducing the maximum daily amount that a customer can send to cryptocurrency exchanges as well as blocking payments to a small number of cryptocurrency asset firms where we have seen particularly significant levels of fraud-related harm for our customers.”

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2021-06-29 11:37:32 ​​ Craig Wright wins default judgment, Bitcoin.org must remove Bitcoin Whitepaper

Quick Take:
- Bitcoin. org must now remove the Bitcoin whitepaper, host a notice referring to the court’s judgment, and pay $48,600 to cover Wright’s legal costs.

Craig Wright, has won a legal battle claiming copyright infringement on the part of bitcoin. org for hosting the Bitcoin whitepaper. He won by default after the website’s pseudonymous owner, “Cøbra,” chose not to mount a defense.

Bitcoin. org must now remove the whitepaper and display a notice referring to the judgment and cough up at least 35,000 GBP ($48,600) to cover Wright’s legal costs. Cøbra responded to the ruling on Twitter.

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2021-06-29 09:30:27 ​​ MARKET WATCH — 29.06.2021

Bitcoin Consolidates, Ethereum and Altcoins Extend Gains

BTC: $34,852.67 (+1.02%)
ETH: $2,122.95 (+7.25%)
BNB: $294.97 (+2.73%)
LTC: $139.84 (+6.11%)
DOGE: $0.2556 (-0.14%)
XRP: $0.6558 (+2.39%)

Bitcoin (BTC) made an attempt to settle above the key USD 35,000 resistance. However, the bulls failed to gain strength, resulting in a minor downside correction below USD 34,500.
Ethereum (ETH) outperformed bitcoin and it climbed above USD 2,000. It even climbed above USD 2,100, but the bears defended USD 2,150.
Binance Coin (BNB) climbed higher and it tested the USD 300 resistance. BNB is now consolidating gains near USD 300 and it might correct lower.
Litecoin (LTC) extended its upward move above the USD 135 resistance. However, the bulls struggled near the USD 142 resistance.
Dogecoin (DOGE) is still consolidating near the USD 0.250 level.
Ripple (XRP) spiked above the USD 0.65 resistance, but there was no follow through. It failed near USD 0.66 and it is now consolidating near USD 0.64.

Many altcoins gained over 10%, including KSM, COMP, BSV, ZIL, AAVE, BTT, EGLD, NEO, LEO, ZEC, SNX, ATOM, ANKR, and CEL. Out of these, KSM rallied over 30% and it cleared the USD 230 level. Open / Comment

2021-06-29 09:23:36 Best Crypto Traders Official pinned a photo Open / Comment

2021-06-28 18:54:00 The first platform where you can pay for everything with cryptocurrency

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2021-06-28 12:02:47 ​​BTC: $34,904.45 (+5.38%)

Biggest ever mining difficulty drop: 5 things to watch in Bitcoin this week

Bitcoin (BTC) starts a new week with a key weekly close under its belt and everything to play for — can it hold higher?

After the weekend saw moderate volatility, including a retest of $30,000 support, BTC/USD is back above $35,000.

Five factors at play when determining where Bitcoin is headed next in the coming days.

Kiyosaki: Get ready for "biggest crash in history".
Bitcoin seals key weekly close...
...But will notch a record difficulty drop.
Global adoption drive continues.
All within a climate of "extreme fear."

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