Bitcoin Price Bearish After Network Hiccups
The price of Bitcoin has been slowly dipping downwards since Wednesday, March 2nd and Monday’s spam attack fiasco. The price had previously wavered within the USD $430-440 range up until late Tuesday after the network problems. Now the price has fallen below the sub $400 level and is showing signs of volatility. On February 29th, 2016 the network had what some called a spam or fee attack which slowed trades down and left many unconfirmed transactions in the mempool. I personally waited three and a half days for a large sum of coin I sent over the blockchain for a small two-cent fee. This....
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Since January 3, 2009, the Bitcoin network has been functional for 99.98662952015% of the time. However, the protocol has had a few hiccups along the way and on a few occasions, the chain split into two. Most people are well aware of the Bitcoin Cash split that took place on August 1, 2017, but the first time the Bitcoin chain split was 11 years ago on August 15, 2010. Strange Block 74,638 4,019 days ago on August 15, 2010, the Bitcoin community had a problem which was dubbed the “overflow bug.” What was also called a “malicious event” or “Strange block....
Yesterday, the Bitcoin network experienced one of the most serious hiccups that we have seen in the past four years. Starting from block 225430, the blockchain literally split into two, with one half of the network adding blocks to one version of the chain, and the other half adding to the other. For the next six hours, there were effectively two Bitcoin networks operating at the same time, each with its own version of the transaction history. The split lasted for 24 blocks or 6 hours, finally resolving itself when one version of the chain conclusively pulled ahead of the other at block....
The Bitcoin Foundation has extended the deadline for voting in its ongoing special election to fill the two industry seats left vacant by Mt. Gox CEO Mark Karpeles and former BitInstant CEO Charlie Shrem. Though voting was originally slated to end at midnight EST on 28th April, the deadline has been extended to Wednesday, 30th April. Brian Goss, chairman of the Bitcoin Foundation's election committee, sent the message via email to eligible voters, notifying them of the change. Wrote Goss: "On account [of] the hiccups we had getting the vote launched as well as the numerous reports of....
Not much happened today in the price action of litecoin. As we can see in the 1H chart, price has been drifting sideways since the cryptocurrency rallied from around 1.60 to about 1.82. While price is indeed still in this consolidation range, we can see a bearish bias. Litecoin (LTCUSD) 1H Chart April 1, 2015. 1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are in bearish alignment and are sloping down. 2) Price is starting to hold below the cluster of these SMAs, which shows bearish bias. 3) The RSI has held below 60, and has tagged 30, showing development of bearish....
Here's a look at what we are focusing on in the bitcoin price this evening. So that’s another day done, and once again it’s been a pretty busy one. We’ve tried to take advantage of some of the smaller price movements in the bitcoin price over the last few days, and to some extent, it’s worked. There have been a few hiccups, but by focusing on near term targets and avoiding our intrarange strategy, we’ve been able to get what we want out of the markets without having to put too much back in. Tonight, we’re looking to continue this trend. Things have been up and down, but we’re seeing some....