Bitcoin price flashing ‘big buy signal’ for only fifth time

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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.

    Key points

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    Dogecoin price suddenly surges after Musk tweets

    Dogecoin’s price has just shot up nearly 10 per cent after successive tweets from tech billionaire and part-time crypto fan Elon Musk.

    The first was a Godfather meme, together with the caption: “Release the Doge!”

    Less than an hour later, he tweeted lyrics to a crypto-themed parody of the earworm children’s hit Baby Shark.

    It pushed dogecoin back above $0.25 and helped it buck market trends that have seen bitcoin and Ethereum (ether) both fall over the last 24 hours.

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    Anthony Cuthbertson1 July 2021 12:26

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    650 US banks open up bitcoin to 24 million customers

    Hundreds of US banks will soon allow their customers to buy bitcoin directly through their accounts without having to go through a cryptocurrency exchange.

    A deal between payments giant NCR, community banks and digital asset management firm NYDIG will open up bitcoin purchases to a total of 24 million customers.

    “We’re firm believers in the benefits of crypto and the strategic application,” Douglas Brown, NCR president of digital banking, told Forbes.

    “We have broader ambition to do a multitude of things with crypto that will extend into our multi-vertical markets, retailers and restaurants.”

    Anthony Cuthbertson1 July 2021 09:29

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    Ethereum overtakes bitcoin to make crypto history

    Ethereum has made crypto history by overtaking bitcoin in daily active addresses for the first time.

    The number of daily active addresses reached above 649,000, while bitcoin fell to around 580,000, according to analytics firm Santiment.

    It comes amid a major price rally for the world’s second most valuable cryptocurrency, which has seen it rise from below $1,800 to above $2,100 over the last week. In contrast, bitcoin continues to flounder around the $35,000 price point.

    You can read the full story here:

    Anthony Cuthbertson30 June 2021 18:21

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    Coinbase wants to be Apple of crypto by building dApp Store

    Coinbase boss Brian Armstrong wants his company to “build the crypto app store” and create a platform for decentralised applications (dApps) similar to Apple’s App Store.

    “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps,” he wrote in a blog post.

    “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months. We’ll work to give our users easy access to all of the from the main Coinbase product.”

    Anthony Cuthbertson30 June 2021 15:17

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    El Salvador installs 1,500 bitcoin ATMs

    El Savador has begun installing 1,500 bitcoin ATMs in the country to provide citizens with easy access to the cryptocurrency for when it becomes legal tender.

    The roll-out is being led by the firm Athena Bitcoin ahead of the world-first Bitcoin Law taking effect later this year.

    Athena Bitcoin director Matias Goldenhörn told Reuters that El Salvador’s President Nayib Bukele “presented us with a tough challenge of 1,500 ATMs. We will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable.”

    (PA)

    Anthony Cuthbertson30 June 2021 13:35

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    Bitcoin price sees worst second quarter in history

    By the end of today bitcoin will have likely seen the worst second quarter in its history.

    CoinDesk’s Omkar Godbole noted that a price drop of nearly 41 per cent between April and June in 2021 is more than five-times worse than the previous worst second quarter in 2018.

    Bitcoin started April at just below $60,000, before rising to an all-time high above $64,000 a couple of weeks later. Unless it sees a major jump in the next few hours, it will end June below $40,000.

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    Anthony Cuthbertson30 June 2021 12:26

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    Bitcoin 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

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    Bitcoin 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

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    New cryptocurrency wants to scan your eyeball

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    Worldcoin, founded by Silicon Valley heavyweight Sam Altman, wants to scan people’s eyeballs in exchange for…

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