BTC – The Cryptocurrency Network

Is Bitcoin (BTC) a Recession Proof Like Gold? Here’s What Experts Think

August 15, 2019 adminBitcoin, BTC, Experts, Gold, Heres, Proof, Recession0 comment

It is quite clear that the global economy is currently in the doldrums due to a wide range of factors, and investors all over the world are currently at crossroads with regards to finding the best ways to protect their capital. When such a thing happens, then investors look for assets that could either protect their capital or act as a hedge against an economic recession. Plenty of analysts have stated that a global recession could be looming and the trade war between the United States and China, the world’s…

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How Will a Higher Bitcoin Dominance Index Affect BTC Price?

August 12, 2019 adminAffect, Bitcoin, BTC, Dominance, Higher, Index, Price0 comment

Bitcoin (BTC) had an excellent run in the first half of 2019 and looked like it could regain the highs that it had reached back in 2017. However, the month of July proved to be a reality check as the price of the token oscillated around $10,000. August started off in much better fashion as many investors got into Bitcoin as a form of hedge against the global economic uncertainties. Key Analysis That being said, the cryptocurrency has not been able to regain the momentum that it had displayed in…

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Chipmixer Used to Launder BTC from Recent Binance Hack

August 8, 2019 adminBinance, BTC, Chipmixer, Hack, Launder0 comment

On May 8, major crypto exchange Binance was the victim of its second major hacking. On this occasion, the thief/thieves made off with 7,000 Bitcoin, which valued at approximately $40 million USD at the time. (That same amount of BTC is worth almost double that at current rates.) Now, several months on, it has been discovered that at least 4,836 Bitcoin of that stolen loot was laundered through crypto mixing service Chipmixer. Stolen BTC Laundered through Chipmixer After Binance was hacked, the stolen coins were moved to seven addresses. Then, according…

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Bitcoin Dominance at 70% | BTC Surges Amid Economic Uncertainty

August 6, 2019 adminBitcoin, BTC, Dominance, Economic, Surges, Uncertainty0 comment

Bitcoin has always dominated the cryptocurrency market. But for the first time since December 2017—when Bitcoin was valued at $20k per coin—Bitcoin dominance is nearing 70%. It’s a significant indicator of the current sentiment surrounding the world’s largest digital asset. It also leaves a sizeable question mark over the future of the hundreds of altcoins that comprise this market. Bitcoin Dominance Rating Bitcoin’s market cap of $217.91 billion now covers 69.93% of the total cryptocurrency market according to NewsBTC. Comparatively, at its lowest in January 2018, after Bitcoin price plunged…

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Bitcoin Rewards | Safeway Partners with Lolli to Give BTC to Customers

July 26, 2019 adminBitcoin, BTC, Customers, Give, Lolli, Partners, Rewards, Safeway0 comment

Safeway will soon reward customers with up to 3.5% back in Bitcoin on all their purchases. The grocery chain has partnered with Bitcoin rewards shopping app Lolli in a bid to make Bitcoin a “part of everyday life.” Safeway and Bitcoin Rewards The new partnership, announced earlier today, has come as a surprise. Safeway announced that the new initiative will be available at all of its 894 locations in 17 American states. The system will reward customers with Satoshis, or one hundred millionth of one Bitcoin. In other words, a minute amount…

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Bitcoin Bull Dan Morehead Predicts BTC to Hit $42K By End of 2019

July 25, 2019 admin42K, Bitcoin, BTC, Bull, Dan, Hit, Morehead, Predicts0 comment

Bitcoin bulls are indeed out there. Most recently, Pantera Capital founder Dan Morehead, in a discussion with Unchained Podcast, said how he believes Bitcoin could hit $42,000 by the end of 2019. He even believes the digital coin has the potential to reach $356,000 within a couple of years. Nothing like some good faith to spur on a Bitcoin rally. Currently, the coin is trading up 3% and selling for $10,023 USD. Bitcoin Bull Predicts In a discussion held on July 23, Morehead predicted BTC will hit $42,000 by the end…

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Bitcoin (BTC) is Back in Momentum

July 22, 2019 adminBitcoin, BTC, Momentum0 comment

Bitcoin has retaken the $10,000 psychological level after coming under bearish pressure in recent weeks. The spike comes hot on the heels of growing optimism that Facebook’s Libra will make its much-awaited entry into the sector, in the first half of next year. The unveiling of Libra is of great importance as it is poised to fuel mainstream media coverage of cryptocurrencies. Bitcoin Price Catalysts The fact that the likes of Visa (NYSE:V), Mastercard (NYSE:MA), PayPal (NASDAQ:PYPL), and Uber (NYSE:UBER) have already invested in becoming members of the Libra Association…

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Bitcoin (BTC) Slumps 27% This Month

July 17, 2019 adminBitcoin, BTC, Month, Slumps0 comment

One of the biggest stories of the year has been the roaring comeback made by Bitcoin after it went through a disappointing year in 2018. Throughout the first half of the year, the cryptocurrency made hefty gains. However, the month of July has been a bit of a bumpy ride for Bitcoin as a range of factors has affected the price. The past week has been particularly painful for the cryptocurrency. Over the course of the past seven days, the cryptocurrency has slumped by as much as 27%, and now,…

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John McAfee Reiterates His $1 Million by 2020 BTC Price Prediction

July 15, 2019 adminBTC, John, McAfee, Million, Prediction, Price, Reiterates0 comment

In a rather haughty Tweet posted earlier today, American crypto enthusiast John McAfee wrote that he was “laughing his f—— ass off” at the concern over Bitcoin’s falling price this week. The entrepreneur went even further and reiterated his prediction that Bitcoin would reach $1 million by 2020. What has him so bullish? John McAfee Predicts Bitcoin $1 Million by 2020 Bitcoin price has fluctuated wildly in recent weeks. Unable to breach the $14,000 mark, Bitcoin topped out at approximately $13,650 and fell back below $10,000 at the end of…

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Bitcoin (BTC) Takes a Hit

July 12, 2019 adminBitcoin, BTC, Hit, Takes0 comment

The cryptocurrency space may have been having a great time this year so far as Bitcoin started on one of its strongest bull runs since 2017 and other crypto tokens gained as well. However, it needs to be kept in mind that there are a lot of things that can disrupt the crypto space and perhaps the biggest disruption was Facebook’s recent announcement that it was going to launch its own cryptocurrency. While that was a disruptive development on its own, nothing perhaps readied the crypto sphere for an attack…