BTC News

Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Welcome to the BTC news page – We have a selection of BTC news articles sourced from some of the biggest Bitcoin news resources such as newsbtc.com and Bitcoin.com

  • The Last Time This On-Chain Signal Was Seen, Bitcoin Rallied 2,000%

    Bitcoin remains below key resistances, but this hasn’t stopped investors from becoming extremely bullish on the asset. Key on-chain data indicates that the propensity that Bitcoin investors have to hold their coins is almost at all-time highs. Along with accentuating the optimism of crypto-asset holders, this is also a similar trend seen at the start of the 2017 bull market. Key On-Chain Data Shows Bitcoin on Bull Run Footing Blockchain analytics firm Glassnode recently found

  • Key Derivatives Data Show Crypto Investors Are Finally Betting on a Rally

    The past few months and years have seen derivatives become increasingly important to crypto. This is largely due to the introduction of more institutional-centric fund managers, which can use vehicles like futures and options to hedge risk and maximize profits. As a result, the data the crypto derivatives markets provide have become increasingly important to analysts. With options data showing that an increasing number of traders are betting on a rally, the bull case that

  • Analyst: Bitcoin Market Structure Looks Very Similar to $10,500 February High

    Since bottoming at $8,600 over five days ago, Bitcoin has performed extremely well. The asset rallied as high as $9,650 on Thursday, liquidating dozens of millions of dollars worth of shorts in the process. Simultaneously, Ethereum saw a massive breakout past a crucial level, suggesting that BTC has room to the upside. Even still, a top trader has suggested that Bitcoin’s recent price action is looking much like the price action seen at the February

  • Bitcoin’s Funding is Flashing a Warning Sign After Rejection at Key Resistance

    Bitcoin faced a grim rejection within the upper-$9,000 region yesterday that caused it to erase most of the gains that came about as its latest push higher The subsequent decline that BTC faced has led it into a key support region, which some analysts believe will lead it to see further near-term upside It is important to note that the cryptocurrency’s funding rates, however, seem to suggest that the tides are turning back into seller’s

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Bobby Lee: $500K Bitcoin Price ‘Flippening’ of Gold Will Come by 2028

Bitcoin (BTC) will surpass the market cap of gold and could ultimately be worth $1 million, well-known industry figure Bobby Lee has said. 

In a series of tweets on Nov. 10, Lee, who co-founded Chinese cryptocurrency exchange BTCC and now runs a Bitcoin wallet startup, became the latest voice in the expanding debate on Bitcoin versus gold. 

Lee: BTC market cap to hit $8 trillion

Gold’s market cap is $8 trillion, while Bitcoin’s is just $160 billion. While around fifty times lower at present, Lee thinks a reversal could come as soon as 2028.

“I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500,000,” he wrote. 

Like many, Lee based his argument for Bitcoin’s success on its decreasing supply via block reward halvings. He noted that in the next decade, the amount of Bitcoin released to miners each block will halve three times. Lee added:

“By 20th year, daily new output will just be ~255 BTC — yearly inflation of less than 0.5%. More scarce than #gold!” 

Money printing could take BTC to $1 million

His arguments chime with predictions by a well-established model charting the Bitcoin price — Stock-to-Flow. The product of social media analyst PlanB, the instrument likewise uses Bitcoin’s new supply versus its existing stock to forecast its future value. 

As Cointelegraph reported, calculations call for a BTC/USD price of just $8,300 until the next halving in May 2020. After that, however, the situation should change rapidly, with $100,000 coming around two years later. 

Lee also joined PlanB in predicting far higher Bitcoin prices in the latter part of the next decade or beyond. While the former thinks a $1 million price tag is possible in the event of global money printing continuing, PlanB noted that money printing could ultimately stop the Stock-to-Flow model from working.

“I would be happy if the model holds for 1 or 2 or maybe 3 more halvings. Especially since BTC is measured in $ … who knows what happens with $ if the FED keeps doing more QE (money printing),” he said in a Twitter exchange late last month. 

Bitcoiners battle gold believers

The idea of Bitcoin usurping gold as an alternative store of value still has its major detractors. Among the most vocal is Peter Schiff, the gold bug who has become infamous for his social media slighting of both Bitcoin and its proponents. 

Last week, Schiff argued that China potentially backing its state-issued digital currency with gold was a “bearish” sign for Bitcoin. 

Prior to that, he forecast BTC/USD never reaching $50,000, while gold would pass $5,000. 

Equally vocal about Bitcoin meanwhile is Max Keiser, the RT host who continues to argue for the cryptocurrency’s supremacy on mainstream media. 

In an episode of his Keiser Report last week, he said that Bitcoin’s self-settling ability automatically made it more suitable for transactions than either gold or fiat currency.

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