Why The $1 Trillion Coin Is Another Reason To Stay Long Bitcoin
In the past weeks, the Bitcoin bulls have shown great strength pushing BTC’s price back into the $50,0000. In the meantime, the members of the U.S. government have re-opened a pandora box in an attempt to elevate their debt ceiling: to mint a $1 trillion coin and prevent it from defaulting on their national debt. Related Reading | Inflatable Bitcoin Rat Makes Comeback Due To Federal Reserve Ethics Issue As Peter St. Onge, a Ph.D. and economic research fellow at Heritage Foundation, explained in a post called “Trillion Dollar Coin: Rocket Fuel for Bitcoin”, the measure has been....
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Dogecoin remains bearish at the time of writing as it just broke below its immediate price support line. Broader market weakness can be attributed to the price fall. Major market movers have displayed choppy price action. Over the last 24 hours, Dogecoin lost 2% and in the last week, it declined by 8%. The global cryptocurrency market cap was at $1.93 Trillion as there has been a decline of 0.2% in the last 24 hours. The meme coin has been facing tough resistance at its immediate price ceiling. Buyers have also decided to lay low as a reason the coin continues to fall prey to selling....
According to on-chain data, Bitcoin miners seem to be holding off on selling BTC despite the recent rally where the coin has crossed $57k. Bitcoin Miner Reserves Continue To Move Sideways As pointed out by a CryptoQuant post, BTC miner reserves continue to trend sideways amid the coin’s strong move up. The “miner reserve” is a indicator that shows the total amount of Bitcoin that miners are currently holding in their wallets. An increase in the metric’s value suggests miners think the coin’s value will go up in the near future, hence they are stocking up on....
The Japanese Virtual Currency Asset and Exchange Association (JVCEA) is considering loosening restrictions on coin listing. With a $1 trillion cryptocurrency trading industry, Japan is changing its perspective and innovating by making it easier to list digital tokens. The listing rules in place require prospective digital coins to go through a lengthy coin listing screening […]
Bitcoin’s market capitalization has crossed the $1 trillion zone after the price per coin surpassed $53,650 per unit. The valuation comes 145 months after the launch of the Bitcoin network on January 3, 2009. ‘The First Trillion Is the Hardest’ The price of bitcoin (BTC) has surpassed the territory needed to have a $1 trillion market capitalization. The valuation is a milestone to many crypto supporters who have rallied for the leading currency for the last decade. For the last two weeks, digital currency advocates discussed BTC’s slow and steady approach toward the....
Whether a coin has a maximum supply (like Bitcoin’s 21 million) or is infinitely inflationary (like Ethereum) has significant effects on that coin’s usage. For example, people tend to save that which is limited in supply, and that they tend to spend that which is inflationary in supply. So which side of the tracks does up-and-coming cryptocurrency Dash fall on? This video explains Dash’s coin emission rate in detail: The reason currencies that are limited in supply encourage savings (potential investment) in the long-run is that — should demand for said currency either remain the same or....