Bitcoin Price Spikes Above $1,300 as ETF Decision Nears
Bitcoin prices saw a significant price spike this morning, briefly shooting above $1,300 to hit a new all-time high. Markets peaked at an average of $1,325.81, according to the CoinDesk Bitcoin Price Index (BPI), before falling sharply back below that level to hit a daily low of $1,178.54 – a change of roughly $133 within minutes. The price drop appears to have been seen most directly on digital currency exchange Bitfinex, reaching a low of $1,067.20, according to BFXData.com At press time, the price is an average of $1,263.98, BPI data shows. The price developments come as the US....
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The crypto economy has jumped over the $400 billion mark and is now hovering around $414 billion at the time of publication. The largest crypto asset in terms of market cap, bitcoin has climbed over 9% during the last 24 hours steadily marching toward the $15k zone. During the last 30 days, Bitcoin (BTC) has gained over 39% touching a new all-time 2020 high of $14,964 on Bitstamp, Thursday morning. Bitcoin (BTC) is up 9.8% during the last seven days and 27.3% during the last 90 days. Bloomberg Senior Commodity Strategist, Mike McGlone, expects BTC to go “parabolic” in....
Amid continued highs in trading and price, Bitcoin’s transaction backlog is giving out warning signs of a network already at capacity. Data from Blockchain.info uploaded to Twitter by Chain engineer Tony Arcieri showed constant spikes in the Bitcoin mempool, the vat of unprocessed transactions waiting for confirmation. “The Bitcoin mempool, a buffer of unprocessed transactions, has been flaring up a lot now that the system is at capacity, only 4tps average,” Arcieri commented. Notably, the size of such transactions peaked around Feb. 23 at just under 75 mln bytes, before coming down....
Following the passing of the Biden administration’s infrastructure bill, the U.S. president appears to be nearing his decision on whether or not he will reappoint Jerome Powell, the current Federal Reserve Board chairperson. According to a few reports Powell may be chosen, but other reports say the Fed’s Board of Governors member, Lael Brainard, could also be a frontrunner for the position. President Biden to Choose Fed Chair ‘Fairly Quickly’ Amid the rising inflation and supply chain woes, U.S. president Joe Biden is thinking about who will run the Federal....
During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra’s UST jumping 29.9% and Neutrino Protocol’s USDN spiking 43.8%.
Stablecoin Market Capitalization Continues to Swell, Tether Crosses $80 Billion
Monthly statistics show the largest stablecoin in terms of market capitalization, tether (USDT), increased by 2% this month as the valuation crossed the $80 billion mark. USDT is massive....
The hottest topic in the Bitcoin space in 2017 is if Wall Street will get in the game through a Bitcoin ETF. As this decision is now just one week away, the odds of acceptance have shifted more in its favor than ever before. Bitcoin ETF Odds Highest Ever. Over the last couple of months, since this decision timetable became public knowledge, the odds have been long against the ETF, brought forth by the Winklevoss Twins three years ago, gaining Securities Exchange Commission approval. Odds have consistently been rated at 25% or less. However, now that you can vote on these odds, things have....