Prices drop over 10% of their gains on June 21 as a poll suggests that UK voters are leaning toward remaining in the EU, after rising nearly 50% between June 1 and June 18 on the back of the Brexit momentum. After the survey helped propel financial markets and the pound higher, Bitcoin dropped another 9.92 percent on June 22, causing Bitcoin some difficulties. Much of the Brexit appears to have been motivated by the hope that a No-Deal Brexit would loosen bitcoin laws. Furthermore, the negative impact on both the pound and the euro may pave the door for a new participant... perhaps a digital currency? Indeed, it was hoped that if the EU no longer governed UK rules, the UK would embrace Bitcoin.People were ecstatic either way. Imagine how they would have reacted if they had known how long the "deal or no deal" situation would last. Though the price fell on June 21, it rose again on June 23, when the referendum was held, though not quite to the same highs it had reached earlier in the month.
July 09/2016
The second Bitcoin halving reduces the price by another 50% automatically, but volatility remains minimal and the price recovers quickly due to strong optimistic sentiment in the run-up to the split.
It's another hack.Bitfinex (BITFINEX/BTCUSD) has halted trading following a security breach that resulted in the theft of nearly 120,000 Bitcoins, causing prices to plummet. In the largest Bitcoin loss since the Mt Gox disaster in 2014, around 119,756 customer Bitcoins valued roughly $72 million went missing. Given the magnitude of the loss, the marketplace was naturally confused and frustrated, and prices fell about 11% from $606.84 to $540.03, reaching a low of $465.28. Fortunately, it started to bounce back the next day.
Reuters has gotten a scoop, and it's not good. According to the data, a third of Bitcoin trading platforms have been hacked at some time, and the danger for Bitcoin holders is compounded because depositors insurance for cyber theft does not exist. However, after the Bitfinex (BITFINEX/BTCUSD) debacle earlier this year, no one is surprised, and prices barely move. Nothing appears to have changed since then, with more than $11 billion stolen from "safe" crypto exchanges, wallets, and mining sites by 2020.
October 11/2016
Bitcoin has been stuck between $615 and $595 for the past month, but a New York Times report on central bank usage has jolted it out of its slump. Government and banking regulations have had a rocky relationship with Bitcoin, but it appeared that central banks were progressively warming to the notion of employing blockchain technology, if not Bitcoin itself.A few institutions began investing into accumulating Bitcoin in 2016 to pay cyber criminals who threatened their systems.
November 09/2016
The election of Donald Trump as President of the United States sends stock markets all over the world into a tailspin. Investors are fleeing the falling stock market in search of other options, which helps Bitcoin. The price rises by roughly 5% in a single day, which is amusing given Trump's anti-Bitcoin stance.
January 03/2017
Bitcoin has broken $1,000 for the first time in three years. It doesn't stay there, but the influx of new investors attracted by the continual media coverage over the preceding few years helps to a tremendous bull run in 2017. It also did well in 2016; according to Business Insider, it was the best-performing currency of the year.
Bitcoin and China resemble a couple that keeps breaking up, slamming each other, and then reuniting. Right now, they're in the midst of a break-up, with two of China's top Bitcoin exchanges preventing users from withdrawing their funds. Bitcoin's value plummets. Following a meeting between the People's Bank of China and Bitcoin exchanges, the news was announced. Because China dominated Bitcoin trading at the time, practically all Bitcoin exchanges took place on Chinese exchanges.
The Securities and Exchange Commission (SEC) has denied Cameron and Tyler Winklevoss' application to form the first Bitcoin exchange-traded fund. Prices plummeted from a high of $1,350 to a low of $975 in minutes as a result of the decision, a shocking -28 percent swing, before completing the day almost -6 percent lower at $1,116.97.
April 01/2017
Japan has made Bitcoin legal tender, a step that appears to be positive but could be a cynical attempt to regulate the currency and set further limits on how it is used. That's how governments work.Despite the fact that the regulatory change limited Bitcoin's freedoms in Japan, the trading community applauded it. The price reflected the increase, rising from $1,070 at the start of the month to $1,350 by the end. Traders gained confidence as a result of the government seal of approval. It also resulted in an influx of new exchanges in Japan, with 11 being licensed as of September 2017.
May 03/2017
Russia has indicated that it may legalize the usage of cryptocurrencies, which is a significant development for Bitcoin, which has seen a significant price increase. It's a significant change from the previous year, when Russian officials threatened to prosecute anyone caught trading cryptocurrencies. Why? Some cynics believe it's because of the benefits of Bitcoin's speed, security, and transparency over traditional banking channels. In any case, it took a long time - in August 2020, President Putin signed a bill legalizing cryptocurrencies. It permitted people to exchange Bitcoin, but it forbade anyone from using it as a payment method.
June 20/2017
Prepare yourself for a few months of phenomenal progress. Bitcoin's price has risen from $928.10 on March 25 to $2,954.22 as of June 11's closure. But growth isn't easy, and it's slipping back down amid a bigger digital currency sell-off. However, the pain does not last long, as a relief rally follows, with prices rising from a low of $2,120 on June 15 to $2,740 on June 20.
July 15/2017
The controversial Segregated Witness software upgrade has been approved, resulting in a modest price drop, possibly as traders factor in the potential impact. The upgrade was intended to address a number of long-standing Bitcoin issues. First, there's the issue of 'transaction malleability,' which was the bug that drove Mt. Gox down in 2014. The discussion over scalability and block size is perhaps more relevant. SegWit permitted the construction of a new payment system, the Lightning Network, which allowed for almost unlimited amounts of "off-chain" fast and low-cost transactions. Despite not being fully operational until late August, the SegWit upgrade was quite popular, with 100 percent of Bitcoin mining pools supporting it.
The notion was that by increasing the block size, more transactions could be processed, making the system more cost-effective and faster to utilize. Supporters of BCH, such as Roger Ver (former CEO of Bitcoin.com and widely known as the "Bitcoin Jesus"), argued that by upgrading rather than increasing the block size, SegWit was pushing Bitcoin to act more like a digital investment rather than a real, usable currency, straying from its original goals. The new currency debuted at around $240 vs. $2,731.
Sep 11/2017
The Chinese government, as one of the most important worldwide trading hubs for Bitcoin. They take their most daring step yet in September, ordering the shutdown of all Bitcoin and cryptocurrency exchanges in the country. The move had an immediate impact, wiping nearly $1,000 off the price in just a few days and bringing it back down to $3,227 before rallying again.
Written by neotrader
July 09/2016
The second Bitcoin halving reduces the price by another 50% automatically, but volatility remains minimal and the price recovers quickly due to strong optimistic sentiment in the run-up to the split.
It's another hack.Bitfinex (BITFINEX/BTCUSD) has halted trading following a security breach that resulted in the theft of nearly 120,000 Bitcoins, causing prices to plummet. In the largest Bitcoin loss since the Mt Gox disaster in 2014, around 119,756 customer Bitcoins valued roughly $72 million went missing. Given the magnitude of the loss, the marketplace was naturally confused and frustrated, and prices fell about 11% from $606.84 to $540.03, reaching a low of $465.28. Fortunately, it started to bounce back the next day.
Reuters has gotten a scoop, and it's not good. According to the data, a third of Bitcoin trading platforms have been hacked at some time, and the danger for Bitcoin holders is compounded because depositors insurance for cyber theft does not exist. However, after the Bitfinex (BITFINEX/BTCUSD) debacle earlier this year, no one is surprised, and prices barely move. Nothing appears to have changed since then, with more than $11 billion stolen from "safe" crypto exchanges, wallets, and mining sites by 2020.
October 11/2016
Bitcoin has been stuck between $615 and $595 for the past month, but a New York Times report on central bank usage has jolted it out of its slump. Government and banking regulations have had a rocky relationship with Bitcoin, but it appeared that central banks were progressively warming to the notion of employing blockchain technology, if not Bitcoin itself.A few institutions began investing into accumulating Bitcoin in 2016 to pay cyber criminals who threatened their systems.
November 09/2016
The election of Donald Trump as President of the United States sends stock markets all over the world into a tailspin. Investors are fleeing the falling stock market in search of other options, which helps Bitcoin. The price rises by roughly 5% in a single day, which is amusing given Trump's anti-Bitcoin stance.
January 03/2017
Bitcoin has broken $1,000 for the first time in three years. It doesn't stay there, but the influx of new investors attracted by the continual media coverage over the preceding few years helps to a tremendous bull run in 2017. It also did well in 2016; according to Business Insider, it was the best-performing currency of the year.
Bitcoin and China resemble a couple that keeps breaking up, slamming each other, and then reuniting. Right now, they're in the midst of a break-up, with two of China's top Bitcoin exchanges preventing users from withdrawing their funds. Bitcoin's value plummets. Following a meeting between the People's Bank of China and Bitcoin exchanges, the news was announced. Because China dominated Bitcoin trading at the time, practically all Bitcoin exchanges took place on Chinese exchanges.
The Securities and Exchange Commission (SEC) has denied Cameron and Tyler Winklevoss' application to form the first Bitcoin exchange-traded fund. Prices plummeted from a high of $1,350 to a low of $975 in minutes as a result of the decision, a shocking -28 percent swing, before completing the day almost -6 percent lower at $1,116.97.
April 01/2017
Japan has made Bitcoin legal tender, a step that appears to be positive but could be a cynical attempt to regulate the currency and set further limits on how it is used. That's how governments work.Despite the fact that the regulatory change limited Bitcoin's freedoms in Japan, the trading community applauded it. The price reflected the increase, rising from $1,070 at the start of the month to $1,350 by the end. Traders gained confidence as a result of the government seal of approval. It also resulted in an influx of new exchanges in Japan, with 11 being licensed as of September 2017.
May 03/2017
Russia has indicated that it may legalize the usage of cryptocurrencies, which is a significant development for Bitcoin, which has seen a significant price increase. It's a significant change from the previous year, when Russian officials threatened to prosecute anyone caught trading cryptocurrencies. Why? Some cynics believe it's because of the benefits of Bitcoin's speed, security, and transparency over traditional banking channels. In any case, it took a long time - in August 2020, President Putin signed a bill legalizing cryptocurrencies. It permitted people to exchange Bitcoin, but it forbade anyone from using it as a payment method.
June 20/2017
Prepare yourself for a few months of phenomenal progress. Bitcoin's price has risen from $928.10 on March 25 to $2,954.22 as of June 11's closure. But growth isn't easy, and it's slipping back down amid a bigger digital currency sell-off. However, the pain does not last long, as a relief rally follows, with prices rising from a low of $2,120 on June 15 to $2,740 on June 20.
July 15/2017
The controversial Segregated Witness software upgrade has been approved, resulting in a modest price drop, possibly as traders factor in the potential impact. The upgrade was intended to address a number of long-standing Bitcoin issues. First, there's the issue of 'transaction malleability,' which was the bug that drove Mt. Gox down in 2014. The discussion over scalability and block size is perhaps more relevant. SegWit permitted the construction of a new payment system, the Lightning Network, which allowed for almost unlimited amounts of "off-chain" fast and low-cost transactions. Despite not being fully operational until late August, the SegWit upgrade was quite popular, with 100 percent of Bitcoin mining pools supporting it.
The notion was that by increasing the block size, more transactions could be processed, making the system more cost-effective and faster to utilize. Supporters of BCH, such as Roger Ver (former CEO of Bitcoin.com and widely known as the "Bitcoin Jesus"), argued that by upgrading rather than increasing the block size, SegWit was pushing Bitcoin to act more like a digital investment rather than a real, usable currency, straying from its original goals. The new currency debuted at around $240 vs. $2,731.
Sep 11/2017
The Chinese government, as one of the most important worldwide trading hubs for Bitcoin. They take their most daring step yet in September, ordering the shutdown of all Bitcoin and cryptocurrency exchanges in the country. The move had an immediate impact, wiping nearly $1,000 off the price in just a few days and bringing it back down to $3,227 before rallying again.
Written by neotrader
