Bitcoin is potentially breaking out toward the upside from a range formed in March 2020. The next major resistance is the previous range above that was formed in early March as shown on the chart.
Bitcoin is the most commonly known cryptocurrency. It’s a decentralized digital currency that is secure and private and can be used in transactions worldwide. It carries with it a number of pros and cons and is currently rather volatile.
In this section we discuss everything Bitcoin including how it works, what it’s worth, how you can “mine Bitcoin”, and more.
Bitcoin is about to experience its third halving. The first halving was Nov 28, 2012, the second July 9, 2016, and third is mid-May 2020. This chart shows repeating trends going into the halving.
The Coronavirus has been taking out just about every market, and crypto has been no different. However, Corona hasn’t been enough to throw Bitcoin off any long term trends.
Crypto Corrects After Coronavirus Catalyst Puts End to Epic Run… But the Halvening is Still Coming Up
After an epic run crypto is seeing a correction that seems to be correlating with Coronavirus fears in other markets.
Square Crypto, a subsidiary of Square, launched its first product. The new product is a Lightening Development Kit for Bitcoin’s Lightening Network.
Cryptocurrency wallets are generally very safe. However, it is up to you to use best practices such storing your private key, seed phrase, pin, and/or password somewhere secure and using 2FA when applicable.
Currently, there are three different Bitcoin address formats. You can tell the difference between the types of addresses by if the address starts with a 1, 3, or bc1.
The Amazon bubble from the dot com bubble has thus far formed very similar price action to the BTC 2016 – 2019 bubble.
CME Group announced options on its Bitcoin futures contracts will be available for trading starting Jan. 13, 2020, pending regulatory review.
The Grayscale Digital Large Cap Fund (GDLCF) is a trust you can buy shares of that contains BTC, ETH, XRP, BCH, and LTC. Watch out for premiums though!