Bitcoin Alerts "Everything you need to know about Bitcoin".

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out? To start with, the sharp recovery from lows below $6,000 does indicate a short-term bottom is in place. However, BTC is still down 39 percent on a year-to-date basis. Further, the series of lower highs as represented by the falling trendline is still intact. While, BTC has a history of rallying to fresh record highs after the relative strength index (RSI) has bottomed out at, or below, 30.00 (oversold region), the daily chart throws some doub...

There is little doubting why, in the run up to Bitcoin all time high of $20,000, people were entering the cryptocurrency market. There was a promise of massive growth, potentially huge returns on investment, and a story already told of missing out as an early adopter. People thus flooded the market, entering for all the wrong reasons, really. However, this created a massive spike in interest and a massive spike in price. Things have changed somewhat now, with Bitcoin heading towards $6,000 rather than above $20,000, and this has caused a huge sell off as investors now flood out of the market. But what reasons remain today for people to buy Bitcoin? Get in for the right reasons The issue was, with this massive spike in interest, that people were throwing money at something they did not understand in the hopes of making a profit. It sounds familiar because it happened before. The dotcom boom has predicated around similar happenings. People jumped on the bandwagon, not knowing why,...

BITCOIN has dipped below $US7000 for the first time since last November amid a broader sell-off which has wiped nearly half a trillion dollars off the market capitalisation of all cryptocurrencies since their January 8 peak. The latest sell-off was sparked by a barrage of negative developments, including fresh news of a Chinese government crackdown and the limiting of cryptocurrency purchases by financial institutions and payments providers. At the time of writing, bitcoin was trading at $US6693, down 18 per cent on the previous day, while ethereum was down 19 per cent, ripple was down 17 per cent, bitcoin cash was down 20 and cardano was down 19 per cent. “Increasingly this is looking like a falling knife no one wants to catch,” CFD chief market strategist Greg McKenna said in a note on Tuesday. “And why would you right now? It’s not obvious what a circuit breaker to this weakness will be, or might emerge from. This could end up a full round trip back into the $US1850 region.” ...

Bitcoin tumbled 28 percent in January amid a widespread sell-off that saw just a third of the 15 largest cryptocurrencies by market capitalization rise for the month, according to CoinMarketCap data. In contrast, ethereum, neo and stellar jumped last month. "Altcoins are going to become more dominant," says CNBC's Jon Najarian, co-founder Investitute.com. He expects many more cryptofunds will launch and the total market capitalization of cryptocurrencies will quadruple to $2 trillion this year. After bitcoin's struggles last month, several analysts see other digital coins gaining ground in a cryptocurrency world that is trying to mature. Bitcoin tumbled 28 percent in January amid a widespread sell-off that saw just a third of the 15 largest cryptocurrencies by market capitalization rise for the month, according to CoinMarketCap data. "Altcoins are going to become more dominant," said CNBC's Jon Najarian, co-founder Investitute.com. H...

Cables run from a network switch box to graphics processing units at the HydroMiner cryptocurrency mining facility near Waidhofen an der Ybbs, Austria © Bloomberg Sir, We often read in your pages the view that bitcoin has no value and therefore , in a rational market, would have no price. But that surely is wrong. Bitcoin was developed as a form of money (the clue is in the name), and money has value even though most money, like bitcoin, has no substance other than the electronic. Bitcoin will retain some fundamental value as long as it is the preferred medium of exchange for some forms of transactions. And on this basis it is fairly easy to calculate, approximately, what its fundamental value is. The supply of bitcoin increases only slowly towards its famous fixed limit and is now around 15m. The use of bitcoin as a means of payment is currently around $100m per month, or $1,200m a year. Were bitcoin just like ordinary money each bitcoin would be used around four times a year i...