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Bitcoin News

Focuses exclusively on news and developments pertaining to Bitcoin, the first and most prominent cryptocurrency.

Peaking Dollar To Bring Strength Back to Bitcoin (BTC), According to Glassnode Founders

The weakening US dollar index (DXY) could potentially trigger a bull market for Bitcoin (BTC), suggest Glassnode founders. They highlight a significant downward trend in the DXY, which usually benefits cryptocurrencies like BTC. Despite recent corrections bringing BTC to around $60,000, a level previously predicted by the founders, Bitcoin shows signs of resilience with a quick recovery from its dip below $60,000. The market is optimistically looking towards surpassing previous highs, with BTC currently valued at $65,253. However, caution is advised as any significant drop could impact the bullish trend..

Human Rights Foundation Unveils Finney Freedom Prize for Bitcoin Innovators – Hodl.Press

The Human Rights Foundation launches the Finney Freedom Prize on Bitcoin’s fourth Halving day, honoring Hal Finney, an early Bitcoin developer. The prize celebrates Bitcoin’s potential to enhance financial freedom and human rights globally, supported by a 33 BTC fund, awarded every four years to align with Bitcoin halving events. The Genesis Committee, composed of leading Bitcoin community figures, will oversee the selection process, aiming to inspire the use of Bitcoin in fighting oppression and promoting liberty worldwide..

Bitcoin Network Fees Surge Post-Halving: Impact Analysis – Hodl.Press

Bitcoin transaction fees skyrocketed to $91.83 post-Halving, influenced by the new Runes token standard. This standard, meant to streamline transactions and replace the BRC-20 tokens, led to a significant increase in network fees and congestion, with nearly 247,000 transactions pending. A single transaction even cost 6 BTC, or about $430,619. The Runes standard aims to improve efficiency and reduce reliance on Ordinals, highlighting the network’s challenges with scalability and fee management in the wake of significant changes..

Bitcoin’s resilience tested: Price up 577% amid pandemics, war and corporate embrace

Reflecting on the period since the last Bitcoin halving in May 2020: the COVID-19 pandemic severely impacted the global economy and sparked inflation. Michael Saylor’s MicroStrategy amassed over 1% of all Bitcoin, boosting corporate adoption. El Salvador adopted Bitcoin as legal tender. China’s ban halved the Bitcoin hash rate. Geopolitical tensions rose, notably with Russia’s Ukraine invasion. Bitcoin ordinals and the launch of Runes marked innovations. A notable decrease in Bitcoin on exchanges indicated a shift towards holding. The collapse of FTX and other crypto platforms contrasted with the success of Bitcoin ETFs. Despite high inflation and interest rates, Bitcoin’s… Read More »Bitcoin’s resilience tested: Price up 577% amid pandemics, war and corporate embrace

Bitwise CIO believes market has not priced in future demand for Bitcoin post-halving

Bitwise CIO Matt Hougan challenges the Efficient Markets Hypothesis (EMH) regarding Bitcoin’s price ahead of its halving, suggesting it underestimates potential demand increases. Hougan argues that while EMH accounts for known factors like the supply cut, it can’t predict future market demand shifts. He highlights the transition from forced to willing sellers post-halving, indicating a possible significant price surge if demand exceeds expectations. This insight challenges traditional economic models, emphasizing the uniqueness of the crypto market and the need for investors to consider unforeseen demand dynamics.. Source

Human Rights Foundation launches Finney Freedom Prize to reward contributions to Bitcoin for 110 years

The Human Rights Foundation launched the Finney Freedom Prize on Bitcoin’s fourth halving day to honor achievements in Bitcoin and human rights, reflecting Hal Finney’s vision of technology as a liberation tool. The inaugural prize was posthumously awarded to Finney, an early Bitcoin developer and advocate for civil liberties, recognizing his contributions from 2009 to 2012. The prize, supported by a 33 BTC fund, will be awarded every four years on Bitcoin halving days, with 28 awards planned over the next 110 years. Laureates are chosen for their educational efforts, technological contributions, promotion of decentralization, and efforts to enhance Bitcoin’s… Read More »Human Rights Foundation launches Finney Freedom Prize to reward contributions to Bitcoin for 110 years