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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 head of blockchain analytics platform CryptoQuant thinks Bitcoin (BTC) is right in the middle of a bull cycle, despite a dip to start the week.

Here's Why Bitcoin Is Still in the Middle of a Bull Market, According to CryptoQuant CEO

Recent data reveals that bitcoin wallets holding between 0.1 and 1 BTC have grown by an impressive 9,563 since the year began. Meanwhile, the number of crab wallets containing 1 to 10 BTC has shrunk by 7,783.

61 New Bitcoin Addresses Holding 1,000 to 10,000 BTC Emerge in 2024

Prominent cryptocurrency trader Eugene Ng on Saturday shared his trading reflections for September, highlighting a successful month that saw him net nearly $7 million in profits. What Happened: His keen market strategies and timely decisions during a pivotal period have led him to predict a significant upcoming surge in Bitcoin (CRYPTO: BTC) and other leading cryptocurrencies.

Whale Trader Recaps $7M Profit In September, Predicts Bitcoin To Hit $100K-$200K: 'Leg 2 Is Beginning, Time To Lock In'

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Bithumb mulls Nasdaq listing, CleanSpark CEO predicts bitcoin to peak near $200,000 this cycle and more

It's difficult to find a more fundamental threat to Bitcoin's continued existence than mining centralization.

AARON: Ocean's DATUM Is Tackling Bitcoin's Most Pressing Problem

On-chain data shows minimal retail involvement in the current crypto rally, hinting at potential further price increases.

Bitcoin Retail Activity Remains Low Despite Recent Rally

Bitcoin's price has fallen by over 3% in the past 24 hours, amid a "long squeeze" in the perpetual futures market, according CryptoQuant.

Bitcoin price decline comes amid futures market ‘long squeeze': CryptoQuant

As Bitcoin (CRYPTO: BTC) prices dropped below $64,000 in Monday trading, veteran crypto analyst DonAlt sees potential for a significant breakout but urges traders to remain cautious. What Happened: In the latest podcast update, DonAlt highlighted the importance of Monday's monthly close, noting it could be “the 18th close above $65,000 or above $58,000 rather.

Bitcoin Back Below $64K: Watch This 'Line In The Sand' For Directional Bias, Says Veteran Trader

Kamala Harris has done nothing to confirm she will support or protect the industry so far, while her political opponent is going above and beyond for it.

NIKOLAUS: Business Insider Says Trump And Harris Both Courting The Bitcoin Vote, But Reality Says Otherwise

MicroStrategy could soon have bigger bitcoin pockets than Grayscale.

MicroStrategy's Next Bitcoin Purchase is Likely to Take its Holdings Above Grayscale's GBTC

CleanSpark CEO Zach Bradford told Bernstein he's expecting a post-election bump in markets.

Bitcoin Price to $200,000? CleanSpark CEO Says It'll Happen in 18 Months

Bitcoin's (CRYPTO: BTC) 8% uptrend over the past 30 days is seen by traders as a precursor to what may be coming in the year's final quarter. What Happened: “Millionaire trader” Unipcs highlighted that eight out of ten Octobers have seen Bitcoin rise in value.

Bitcoin Up 8% In September: What Traders And Analysts Expect For 'Best-Performing' Q4

I've written a second travel guide, this time focusing on Guatemala, a must-visit country for bitcoiners.

A Bitcoin Beginner's Travel Guide To Guatemala

Bitcoin and crypto stocks retreated on the final trading day of September, following a rally last week, but are still poised to post a positive month.

Bitcoin and crypto stocks sink after last week's rally, but still head for a positive September

Bitcoin's price is expected to benefit in the fourth quarter, despite the upcoming US presidential election, according to CK Zheng, chief investment officer of ZX Squared Capital.

Bitcoin Rally Expected to Accelerate in Q4 Despite US Election Outcome, Hedge Fund Suggests

In a recent interview with research and brokerage firm Bernstein, CleanSpark CEO Zach Bradford forecasted that Bitcoin could peak at just under $200,000 within the next 18 months.

Bitcoin Price Predicted to Peak Near $200,000 in Next 18 Months: CleanSpark CEO

Overbought conditions also surely played a role in bitcoin's Monday decline.

Bitcoin Tumbles Back Below $64K as Surprise Japan Prime Minister Choice Triggers 5% Plunge in Nikkei

Bitcoin and stocks experienced one of their best Septembers in years, and analysts cite factors that could support further risk-on sentiment.

QCP Capital forecasts continued risk-on sentiment for bitcoin after strong September

Bitcoin's price has entered a critical juncture, with the leading crypto asset showing signs of consolidation after a sharp sell-off from its high of $66,000. On September 30, 2024, the price stabilized around $63,682, supported by mixed technical indicators across various timeframes.

Bitcoin Technical Analysis: Bearish Momentum Meets Critical Support

“The trends we are observing indicate that the market is increasingly receptive to digital assets," an analyst told Decrypt.

Bitcoin ETFs Pulled in Another $1 Billion Last Week

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 30, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Drops 3%, Still on Track for Best September Since 2013

The U.S. data, due Tuesday, has triggered 10% price drops in the first week of the past three months, 10x Research said.

'Overbought' Bitcoin Drops Below $64K as ISM Manufacturing Data Looms: 10x Research

Zach Bradford also saw the U.S. election impacting bitcoin's price but said it was less about who wins and more about it being over.

CleanSpark CEO expects bitcoin to peak near $200,000 this cycle: Bernstein

After all bitcoins are mined, miners will rely on transaction fees to validate and secure the network while bitcoin's use will expand beyond payments.

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