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Bitcoin has rallied at the end of June, rising in price from close to $30,000 on the weekend to above $35,000 on Wednesday.
Other leading cryptocurrencies have seen a similar bounce in recent days, with Ethereum (ether) and dogecoin breaking above the crucial markers of $2,000 and $0.25 respectively.
Beyond brief peaks above $40,000 and dips below $30,000, the cryptocurrency has spent the entire month trading within a $10k price range.
The relative stability has divided crypto analysts over whether the market is in a bull or bear phase, meaning July’s movements will be under close scrutiny.
Still down by around a half from its peak in mid May, bitcoin has entered a “buy phase” for only the fifth time in its history, according to one indicator. The Puell Multiple graph, which charts mining profitability, entered the green zone this week for the first time since March 2020.
You can find all the latest updates, analysis and expert price predictions right here.
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1625042858Bitcoin price rally pushes crypto back above $35,000
Bitcoin has once again returned above $35,000, briefly reaching above $36,000 before settling back down on Wednesday morning.
The price rally means btc is now up more than 15 per cent since the weekend. It also means the cryptocurrency is ending the month at the exact midpoint of the $10k range it has been trading in all month.
We’ll be bringing some price predictions and analysis as we head into July, which some experts are already calling a make-or-break month for bitcoin.
Anthony Cuthbertson30 June 2021 09:47
1624997668Bitcoin billionaire leaves behind crypto fortune
A controversial bitcoin advocate has reportedly died, leaving behind a crypto fortune in excess of $2 billion.
Mircea Popescu drowned in Costa Rica, according to local media reports, at the age of just 41. As the founder of bitcoin securities exchange MPEx in 2012, he was one of bitcoin’s early adopters.
He was once described as “the father of bitcoin toxicity”, but former CoinDesk editor-in-chief Pete Rizzo described him as “one of bitcoin’s most vilified figures [but] inarguably one of its greatest philosophers.”
You can read the full story here:
Anthony Cuthbertson29 June 2021 21:14
1624980944New cryptocurrency wants to scan your eyeball
A new startup is hoping to accelerate cryptocurrency adoption by offering it to everyone on Earth – with one big catch.
Worldcoin, founded by Silicon Valley heavyweight Sam Altman, wants to scan people’s eyeballs in exchange for cryptocurrency in an effort to spread awareness of crypto and universal basic income.
“I’ve been very interested in things like universal basic income and what’s going to happen to global wealth redistribution and how we can do that better,” Altman told Bloomberg. “Is there a way we can use technology to do that at global scale?”
The company is also backed by famed early tech investor Andreessen Horowitz, as well as the venture capital arm of Coinbase. The idea is that by scanning someone’s eye they will have a unique identifier to ensure even distribution of the coin.
Anthony Cuthbertson29 June 2021 16:35
1624971319Dogecoin ‘sent to space’
Ahead of Elon Musk’s plan to send a “literal dogecoin to the literal moon”, an eager YouTuber has sent one into the stratosphere using a weather balloon.
Reid Williamson released a video detailing the effort yesterday, just in time for the technology billionaire’s 50th birthday.
“Elon, if you need any launch tips for getting Doge to the moon my DMs are always open,” Williamson wrote.
The stunt involved a second-hand GPS tracker, two weather balloons, a parachute, a canister of helium, and a dogecoin replica.
You can see the video and read the full story here.
Anthony Cuthbertson29 June 2021 13:55
1624952128Bitcoin ‘flashing big buy signal’
Bitcoin is “flashing a big buy signal”, according to one indicator.
The Puell Multiple graph, which charts mining profitability, has entered the green zone for the first time since March 2020. At the time a flash crash had pushed the cryptocurrency’s price below $5,000 – and a subsequent rally took it to a new all-time high before the end of the year.
“Puell Multiple flashing a big buy signal for #bitcoin,” tweeted prominent crypto investor Lark Davis.
“Only the 5th time ever! Last 4 times were spot on, will this one be too?”
(Lark Davis/ Twitter)
Anthony Cuthbertson29 June 2021 08:35
1624948519Dogecoin price surges pending major update
The price of dogecoin is back above $0.25 after a proposal for a major new update to its network was published.
The Fee Policy change proposal would see the cost of a standard dogecoin transaction, which currently stands at 1 DOGE, reduce by 100-times.
“Since inception, the goal of dogecoin has been to be accessible to everyone, but with current exchange rates, transacting DOGE is kept artificially higher than instated on bitcoin’s and litecoin’s chains,” it states.
The proposal has so far received broad support from the dogecoin community, including from Tesla boss and crypto advocate Elon Musk. The tech billionaire said on Monday that it was “important to support” the change.
You can read the full story here:
Anthony Cuthbertson29 June 2021 07:35
1624894991Bitcoin price ‘feels very 2013’
Bitcoin appears to have entered a momentary period of stability, at least relatively speaking.
It has briefly peaked above $40,000 and dipped below $30,000 over the last six weeks, but it has mostly spent its time trading within this $10k price range.
Analysts remain divided over which direction bitcoin’s price will head in the second half of 2021, with patterns from previous bull runs in 2013 and 2017 suggesting it could go either way.
One analyst who believes there will be new record highs this year is the pseudonymous Dutch trader PlanB. His Stock-to-flow model allows for short term volatility, while also projecting major gains over the long term. Are we just seeing a dip before a new all-time high?
Anthony Cuthbertson28 June 2021 16:43
1624879132Binance ‘ban’ confuses UK users
A ruling from the UK’s Financial Conduct Authority (FCA) that bans leading crypto exchange Binance from conducting any “regulated activity” in the country has prompted fears that users will not be able to access their accounts.
The FCA notice only concerns Binance Markets Limited (BML), which is yet to launch its UK business. This means the ruling will have no direct impact on anyone using the exchange from the UK.
“Our relationship with our users has not changed,” the Cayman Islands-based firm tweeted. “We take a collaborative approach in working with regulators and we take our compliance obligations very seriously.”
Part of the FCA announcement also warned people to be weary of any adverts promising high returns from cryptocurrency investments.
Anthony Cuthbertson28 June 2021 12:18
1624877514Mexico billionaire plans bitcoin bank acceptance
Mexican billionaire Ricardo Salinas Pliego is working towards making his bank the first in his country to accept bitcoin.
A significant chunk of his wealth is already tied up in bitcoin, having previously said in an interview last week that “all of bitcoin’s benefits, in my opinion, are sufficient to make it the modern world’s gold”.
Mexico’s third wealthiest person, whose net worth is $13.2 billion, was responding to a tweet from MicroStrategy CEO Michael Saylor, whose own company has invested billions of dollars into bitcoin.
Salinas also tweeted Saylor to say: “I really hope your big ‘all in’ bet with MicroStrategy pays off. BALLS OF STEEL.”
Anthony Cuthbertson28 June 2021 11:51
1624877001Bitcoin price back in the green
Bitcoin is currently leading a market-wide recovery that has seen several leading cryptocurrencies jump by between 5-20 per cent since the weekend.
The turnaround appears to have been sparked by news out of Mexico that a major bank will accept bitcoin, as well as positive developments elsewhere in the world. However misleading reports concerning the crypto exchange Binance appears to have stalled the bounce back on Monday morning.
We’ll be bringing you all the latest developments right here throughout the day.
Anthony Cuthbertson28 June 2021 11:43
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