Something Odd Is Happening at Bitcoin’s Largest Mining Pool


Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain...


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https://ecoindiscuss.com/something-odd-is-happening-at-bitcoins-largest-mining-pool/

Where Is The Bottom? (BTC Price Analysis)


oday has been a rough day for Bitcoin bulls. The price dropped by a sharp 10% today, over $4K, over the past hours. This comes just one day after the primary cryptocurrency reached $38K. In conclusion – we saw a 2-day nightmare of almost $7000 loss in value.

What leveraged the collapse was the horizontal triangle’s breakdown, as mentioned here in our most recent BTC analysis from yesterday. As can be seen on the daily chart below, once the triangle was broken along with horizontal support of $34K, the bloodbath began.

As of writing these lines, the daily low (according to Bitstamp) lies about the support area at $31,200, which is the downside 1.414 Fib Extension level...

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https://ecoindiscuss.com/where-is-the-bottom-btc-price-analysis/

Bitcoin Posts Massive 10% Drop as Altcoins Consolidate; What Analysts are Saying


Bitcoin and the entire crypto market have seen some mixed price action as of late, with bulls being unable to take control of the benchmark cryptocurrency’s trend while many altcoins consolidate well-above their recent lows.

However, the strength seen by BTC in past weeks that allowed altcoins to post massive gains has since disappeared, and it may now begin placing tailwinds on their price action...

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https://ecoindiscuss.com/bitcoin-posts-massive-10-drop-as-altcoins-consolidate-what-analysts-are-saying/

Buy Crypto That Holds Up During Bitcoin Breakdown


Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak. Normally, the bearish momentum in the top cryptocurrency is enough to drag down the rest of the market, but select altcoins are holding up surprisingly well.

One altcoin expert who has traded his way through multiple bear and bull cycles, suggests watching for and buying any alts that are holding up especially well against BTC during the current drawdown. Here’s a closer look at a few cryptocurrencies that fit the bill...


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https://ecoindiscuss.com/buy-crypto-that-holds-up-during-bitcoin-breakdown/

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020



Bitcoin price has now pulled back a full $13,000 from 2021 high to low. Yesterday’s massive bearish, red candle is one obvious sign that the trend is turning. However, a technical analysis tool used to gauge the strength of trends also confirms that bears have taken over the reigns from bulls and it could lead to a short-term downtrend...


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https://ecoindiscuss.com/bear-trend-begins-to-take-hold-in-bitcoin-for-first-time-since-october-2020/

Investing in Bitcoin is as Safe as Gold And Bonds, Says SkyBridge’s Anthony Scaramucci

Bitcoin has matured as an asset in the past few years and is now a safe investment such as gold and bonds, said SkyBridge Capital’s Anthony Scaramucci and Brett Messing.

In a recent joint post, the duo also highlighted BTC’s intangibility as significant merit, which outlines bitcoin’s uniqueness.

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https://ecoindiscuss.com/investing-in-bitcoin-is-as-safe-as-gold-and-bonds-says-skybridges-anthony-scaramucci/

All Eyes are on $26,000 as Bitcoin’s Momentum Shows Signs of Faltering


Bitcoin and the entire crypto market have seen some mixed price action as of late, with bulls and bears both being wholly unable to gain a firm grasp of its mid-term trend.

Overall, the price action has favored sellers, with BTC’s bounces growing weaker and weaker as buyers move to the sidelines.

One analyst is now musing the possibility that Bitcoin is on the cusp of seeing a bearish breakdown, with the selling pressure here potentially indicating that a test of its yearly open at $26,000 is imminent...

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https://ecoindiscuss.com/all-eyes-are-on-26000-as-bitcoins-momentum-shows-signs-of-faltering/

Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task

After a failed attempt to clear the $35,000 resistance, bitcoin price trimmed gains and traded below $33,800. BTC even broke the $32,500 level and settled below the 100 hourly simple moving average.

There was a spike below the $31,000 level, but it remained stable above $30,800. A low is formed near $30,823 and the price is currently recovering higher. It surpassed the 23.6% Fib retracement level of the downward move from the $34,915 high to $30,823 low.

Bitcoin price is currently facing resistance near $32,800 and the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $34,915 high to $30,823 low is also near $32,800...

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https://ecoindiscuss.com/bitcoin-holds-strong-at-31k-why-the-bulls-are-facing-uphill-task/

7 Days Left Until the Great Bitcoin Halving: Hashrate Jumps Over 140 Exahash, Miners Hoard


In a week’s time on May 12, 2020, the BTC blockchain will experience the third block reward halving since the inception of the network back in 2009. The event means that miners who find blocks will only get 6.25 BTC per block, as opposed to the current 12.5 BTC they can obtain today. Despite the 50% cut in revenue seven days from now, miners have increased processing power quite a bit in the last few weeks. The crypto-analysis firm Glassnode revealed on Sunday that the BTC chain saw well over 140 exahash per second (EH/s), which is an all-time high (ATH) for the network...

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https://ecoindiscuss.com/7-days-left-until-the-great-bitcoin-halving-hashrate-jumps-over-140-exahash-miners-hoard/

Bitcoin Price Shoots Past $38,000 on Elon Musk’s Endorsement

Elon Musk has changed its Twitter bio to one word: Bitcoin.

The billionaire entrepreneur, whose opinion of the benchmark cryptocurrency has juggled between skepticism and praise, appeared to have taken a definite stance about it. In a tweet that followed shortly after the bio update, Mr. Musk said that “in retrospect, it was inevitable.”

That was enough for Bitcoin bulls to take charge in an otherwise short-term bearish market. Mr. Musk’s tweet propelled them to raise their bids for the cryptocurrency. As a result, in just two hours, the cost to purchase one Bitcoin climbed from nearly $32,000 to above $38,000...

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https://ecoindiscuss.com/bitcoin-price-shoots-past-38000-on-elon-musks-endorsement/

$180M Bitcoin Trust Completes Canadian IPO, Fully Invested on First Day


he bitcoin fund is available in both U.S. dollars and Canadian dollars and is listed on the Toronto Stock Exchange.


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Why r/Wallstreetbets Needs Bitcoin – Bitcoin Magazine

Ever since the Federal Reserve was created in 1913, the game has been rigged against the average person. For years, Wall Street has been manipulating the market to keep ordinary people from “making too much money” while the 1 percent swim in huge gains. They don’t want a truly free market to trade, they want it to be one-sided to benefit them. When it comes to giving a middle finger to the establishment, nobody does it better than Bitcoiners and r/wallstreetbets...



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https://ecoindiscuss.com/why-r-wallstreetbets-needs-bitcoin-bitcoin-magazine/

Bitcoin’s inclusion to diversify cross-currency portfolios may spell gains


Bitcoin has been the face of the cryptocurrency industry for many years now, but the traditional market has always perceived it as a risky asset for investment. Despite the prejudice against Bitcoin, however, its inclusion in varied portfolios may have a notably diverse impact on risk-adjusted returns...

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https://ecoindiscuss.com/bitcoins-inclusion-to-diversify-cross-currency-portfolios-may-spell-gains/

Flow Blockchain Combines DeFi And NFTs To Power Future Crypto Games

Like the internet, blockchain has been pitched as the next revolution that will disrupt all major industries and change the face of technology forever.

But problems pertaining to scaling, high transaction fees, and clunky developer tools prevent expedited mainstream adoption from happening. Most scaling solutions merely divert challenges back to developers or put decentralization itself at risk.

However, one innovative blockchain that’s fast, secure, and developer-friendly is here. And it is ready to support the next generation of crypto games, dApps, and the digital tokens integral to these ecosystems...

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https://ecoindiscuss.com/flow-blockchain-combines-defi-and-nfts-to-power-future-crypto-games/

Paxful Celebrates the Real Reasons People Use Bitcoin Everyday With #BitcoinForAll Giveaway – Sponsored Bitcoin News



Paxful, one of the largest peer-to-peer cryptocurrency marketplaces in the world, is celebrating the real reasons people use bitcoin everyday with a special $15,000 giveaway. The platform helps millions to have access to payments, e-commerce, remittances, wealth preservation and philanthropy with bitcoin...

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https://ecoindiscuss.com/paxful-celebrates-the-real-reasons-people-use-bitcoin-everyday-with-bitcoinforall-giveaway-sponsored-bitcoin-news/

Bitcoin Price Soars $800 Following The Fed’s Emergency Rate Cut To Zero


The Federal Reserve made an unexpected announcement at 5 PM U.S. Time Sunday afternoon. Along with another $700 billion immediate injections – $500 billion in treasuries and $200 billion in mortgage-back securities, the Fed is cutting the rate to zero.

Donald Trump fires all the guns he has at an early stage of the coronavirus battle: Following the past week’s cut of 0.5% just a week ago, the Fed had announced shortly before the Futures on Wall Street open, on an another aggressive rate cut to zero, valid from March 26, 2020.

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https://ecoindiscuss.com/bitcoin-price-soars-800-following-the-feds-emergency-rate-cut-to-zero/

The Shadow of Satoshi’s Ghost: Why Bitcoin Mythology Matters



How the myth-making around Satoshi reinforces what makes bitcoin unique in the landscape of global monies.

On Wednesday, a batch of coins mined just a month after bitcoin’s birth were moved. It was the first time since August 2017 that any bitcoin from early 2009 had been transferred, and the action set Bitcoin Twitter on fire. While a number of bitcoin archaeologists quickly and persuasively argued the tokens were almost assuredly not mined by bitcoin creator Satoshi Nakamoto, it was a moment that reinforced the living history in the bitcoin ecosystem.

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https://ecoindiscuss.com/the-shadow-of-satoshis-ghost-why-bitcoin-mythology-matters/

Bitcoin Chartists See Price Hitting $70,000 After Tesla Crypto Purchase


Calls for a $70,000 Bitcoin is picking momentum among technical market analysts as the cryptocurrency makes way into Tesla’s balance sheets.

Cheds, an independent cryptocurrency analyst who enjoys a massive following on Twitter, saw the BTC/USD exchange rate rising by at least 70 percent in the coming sessions. “Just an observation,” he said while citing a fractal-like Relative Strength Indicator for his bullish analogy, adding that whenever the indicator enters into a “power zone,” it sends the Bitcoin prices higher...

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https://ecoindiscuss.com/bitcoin-chartists-see-price-hitting-70000-after-tesla-crypto-purchase/

Bitcoin’s Twitter-volume spikes to new all-time highs on Elon pump


Social media activity for Bitcoin is at an all-time high following a massive endorsement from Tesla CEO, Elon Musk.

Speaking to Cointelegraph, co-founder and CEO of crypto data provider The TIE, Joshua Frank, noted there have been 143,000 tweets over the last 24 hours from “non-bot accounts.”

The new record beats out the previous high of 140,000 from Jan. 3, 2021...

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https://ecoindiscuss.com/bitcoins-twitter-volume-spikes-to-new-all-time-highs-on-elon-pump/

Bitcoin as an asset class is here to stay: Grayscale Investments’ Sonnenshein


The cryptocurrency market may see greater regulatory clarity in the coming year. In an unprecedented move, SEC Commissioner Hester Peirce at the recent International Blockchain Congress in Chicago formally proposed that tokens need to be given a three-year grace period before they are scrutinized under the SEC’s securities evaluation criteria. Such developments come on the back of the digital assets industry gaining more mainstream recognition and acceptance, something highlighted by Grayscale Investments’ Michael Sonnenshein in a recent interview...

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https://ecoindiscuss.com/bitcoin-as-an-asset-class-is-here-to-stay-grayscale-investments-sonnenshein/

Bitcoin Adoption With Quontic Bank – Bitcoin Magazine

This week for the “Bitcoin Magazine Podcast,” host Christian Keroles sat down with CEO of Quontic Bank Steven Schnall to discuss Quontic’s recent move to offer a bitcoin-back debit card. The bitcoin-back debit card offer users 1.5 percent cash back on their purchases in the form of bitcoin. This represents Quontic’s first official cryptocurrency product and a massive step for Bitcoin’s financialization as Quontic is firmly a legacy banking institution...


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https://ecoindiscuss.com/bitcoin-adoption-with-quontic-bank-bitcoin-magazine/

Interesting

Why Future of Open Finance Will Be More Convenient, Safe, and Secure


The future for decentralized finance looks bright. While the rest of the world will remember 2020 as the year of Covid19, for crypto heads it will also be the year that decentralized finance, also referred to as open finance, finally broke through to make its presence known. Some truly astonishing progress over the course of the year witnessed the Total Volume Locked (TVL) in DeFi protocols surpass $16 billion by December, from a starting point of around $600 million in January. Today the TVL figure sits at over $30 billion...


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https://ecoindiscuss.com/why-future-of-open-finance-will-be-more-convenient-safe-and-secure/

How to Access Bitcoin in a World of Illiquidity?


Headlines move Bitcoin. That’s no secret. There is a limited supply of Bitcoin and shows of confidence, such as Tesla buying up $1.5b worth to keep the bull rally spiking higher. Tesla announced last month that it may hold “certain alternative reserve assets including digital assets, gold bullion [and] gold exchange-traded funds.” using its cash reserves...


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https://ecoindiscuss.com/how-to-access-bitcoin-in-a-world-of-illiquidity/

A $50K Bitcoin Possible as MasterCard, BNY Mellon Announces Crypto Integration


Bitcoin edged higher on Thursday after traders realized MasterCard’s plans to integrate cryptocurrencies into its traditional payment services later this year.

The credit card giant’s revelation came days after Tesla, a Fortune 500 carmaker, showed a $1.5 billion worth of Bitcoin in its balance sheets this Monday, further asserting that it would start accepting payments in the benchmark cryptocurrency for its products and services. Bitcoin prices jumped about 20 percent on the news...

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https://ecoindiscuss.com/a-50k-bitcoin-possible-as-mastercard-bny-mellon-announces-crypto-integration/

India’s crypto ban is coming, hodlers to be given transition period: Bloomberg

An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country.

Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament. Transacting with crypto via foreign exchanges will also be prohibited...

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https://ecoindiscuss.com/indias-crypto-ban-is-coming-hodlers-to-be-given-transition-period-bloomberg/

Nigeria, Hyperbitcoinization Ground Zero – Bitcoin Magazine

Today, the Senate of Nigeria —which has similar legislative powers to the U.S. Senate — shared notes from its daily proceedings. Among the presentations of bills and reports was discussion of a recent reminder from the Central Bank of Nigeria (CBN) that financial institutions are prohibited from facilitating any accounts transacting with cryptocurrency exchanges.

During that discussion, a Nigerian official made a concession that many Bitcoiners champion, but few governmental representatives have ever made. Senator Sani Mohammad Musa announced that Bitcoin has all but superseded Nigeria’s fiat system...


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https://ecoindiscuss.com/nigeria-hyperbitcoinization-ground-zero-bitcoin-magazine/

Blockchain is not a panacea, but where needed, it’s the savior


Blockchain technologies and their associated market gained tremendous momentum this past year. The colossal developments and the aggressive funding of ideas across this nascent industry have sparked some serious debate as to the veritable value of blockchain. Before implementing blockchain technology, managers, builders and developers need to ask themselves one question: “why blockchain?”...


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Famous Gold Bull Jeffrey Gundlach Says Bitcoin is a Better Investment


Popular gold advocate Jeffrey Gundlach, CEO of DoubleLine Capital, has thrown his weight behind Bitcoin (BTC), stating that the crypto asset is a better investment than the precious yellow metal.

Gundlach tweeted earlier today that despite being a strong gold bull and a long-term U.S. dollar bear, he has chosen to be neutral on both for the past six months.

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https://ecoindiscuss.com/famous-gold-bull-jeffrey-gundlach-says-bitcoin-is-a-better-investment/