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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Fundstrat's head of research, Tom Lee, has doubled down on his $150,000 bitcoin price prediction, stating that the crypto could reach that price level this year. He cited three key reasons driving his bullish price forecast.

Fundstrat's Tom Lee Anticipates Bitcoin Hitting $150K This Year — Calls BTC ‘Sound Money'

Bitcoin price can reach as high as $150,000 this year fueled by ETFs, halving and Fed rate cuts, Fundstrat's Tom Lee said.

Bitcoin Could Hit $150K This Year, Says Fundstrat's Tom Lee

While Bitcoin (CRYPTO: BTC) faces resistance near $53,000 and struggles to find sustained momentum, large investors, often referred to as "whales," are sending a different signal. What Happened: According to Ki Young Ju, CEO of cryptocurrency analytics firm CryptoQuant, Bitcoin accumulation addresses saw a record-breaking net inflow of 25,300 BTC on Feb. 19, the highest single-day influx ever recorded.

Bitcoin Whales Feasting: 25,300 Bitcoin Accumulated On Record-Breaking Single-Day Influx

The upcoming halving is designed to reduce the rate of new Bitcoin available on the market. It's just one of many reasons to be bullish, ETF issuers say.

What the Bitcoin Halving and Bitcoin ETFs Mean for Supply and Demand

One Bitcoin metric indicates there's still a “long way to go” before BTC hits its cyclical top, according to the co-founder and chief executive of analytics platform CryptoQuant. Ki Young Ju notes that 63% of Bitcoin's realized cap hasn't moved in more than six months.

‘We Have a Long Way' To Go Before Bitcoin Reaches Its Cyclical Top, According to CryptoQuant CEO – Here's Why

Fundstrat CEO Tom Lee says a myriad of positive catalysts are setting up to most likely push Bitcoin to much higher prices by the end of 2024.

$150,000 Bitcoin Price Target on the Table for This Year, According to Fundstrat's Tom Lee – Here's Why

Bitcoin call options are concentrated above a strike price of $60,000 for June's end-of-month expiry, according to Deribit data.

Bitcoin call options cluster above $60,000 indicating post-halving bullish sentiment, analyst says

Bitcoin bulls received a long-awaited vindication last week as the flagship crypto scaled new yearly highs to reach $50,000. Only a few days later, it went on to regain its $1 trillion market capitalization for the first time since 2021, creating a widespread sentiment that the worst of this cycle's crypto winter is firmly in the past.

Bitcoin Back Above $50k – But What Comes Next?

Bitcoin Back Above $50,000 – But What Comes Next?

Retired U.S. Army Colonel Douglas Macgregor advocates for Bitcoin (CRYPTO: BTC) as a sanctuary from a predicted impending collapse of the financial system. Will Putin Adopt Bitcoin?

Bitcoin To $1M? 'Fiat Currency Is Not Going To Work,' Predicts This Former Pentagon Advisor

Last week, on Thursday, February 15, the Ethiopian Government's investment arm, Ethiopian Investment Holdings (EIH), signed a memorandum of understanding with Honk-Kong-based West Data Group's Center Service PLC to commence mining bitcoin.

Ethiopia To Become The First African Country To Start Bitcoin Mining

Cardano

Solana

The cryptocurrency market is experiencing a correction on Wednesday, coinciding with the release of the Federal Open Market Committee (FOMC) meeting minutes. What Happened: Recent data from CoinMarketCap shows a 1.28% decrease in the total crypto market capitalization over the last day.

Solana, Cardano, Ripple Follow Bitcoin's Drop: Experts Explain Why Crypto Is Down Today

Ethereum

Galaxy Digital CEO Mike Novogratz is predicting that Bitcoin (BTC) will end 2024 much higher than its current value.

Investor That Bought Ethereum (ETH) Under a Dollar Sees Bitcoin (BTC) ‘A Lot Higher' by End of the Year

Fundstrat's Tom Lee is out with another bullish call on Bitcoin (CRYPTO: BTC) with the world's largest cryptocurrency trading around the $51,000 level. “I think it, you know, could be as high as $150,000 this year,” Lee said Wednesday on CNBC's “Squawk Box.

Bitcoin Could Triple In 10 Months, Tom Lee Says: 'Criminals Don't Trust Anybody, But They Trust Bitcoin'

Peter Schiff is a Bitcoin skeptic who became famous for predicting the 2007 mortgage-backed securities market crash. "The truth is the real success of Bitcoin rests on more people buying it," he said.

Bitcoin To $100,000? Gold Bug Peter Schiff Says It Could Happen

Citrea says it plans to use zero-knowledge cryptography to help grow Bitcoin's budding decentralized finance (DeFi) and NFT ecosystems.

Bitcoin Zero-Knowledge Rollup Citrea Raises $2.7M in Seed Funding

'The most important stock on Earth' could disappoint on a weak PC market and AI saturation, with Wall Street wanting more from the GPU giant, pulling down crypto and equities, the report said.

Nvidia's Hotly Anticipated Earnings May 'Trigger' Bitcoin and Crypto Correction, Analyst Says

SEC approval in January opened up the market to a new generation of investors but there are still advantages to directly owning crypto that ETFs can't provide, says Eric Ervin, CEO of Onramp Invest.

When Bitcoin ETFs Are Right for Investors (and When They're Not)

Bitcoin Magazine's editorial policy concerning coverage of layer two protocols built on the Bitcoin network.

Bitcoin Magazine Editorial Policy On Bitcoin Layer 2s (L2s)

Bitcoin (CRYPTO: BTC) is down 2% in the past 24 hours, trading around $51,100 and triggering crypto liquidations on the long side. What Happened: Technical analyst Ali Martinez cited indicators triggering a sell signal for Bitcoin, tweeting: The TD Sequential indicator shows a sell signal on the #Bitcoin 3-day chart.

Bitcoin Slips To $51K, Liquidations Peak: This Indicator Signals 10% Correction, Analyst Warns

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $51,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $2,900 mark this morning.

Bitcoin Falls Below $51,000; Starknet Becomes Top Loser

With South Korean elections mere weeks away, both contenders have pledged to approve a Bitcoin ETF. Slight additional policy differences distinguish the two options.

Largest South Korean Parties Promise Bitcoin ETFs Before Election

Bitcoin (BTC) and Ethereum (ETH) have been gaining for weeks, but encountered some resistance while traders wait for U.S. Fed hints.

Bitcoin and Ethereum Look Bullish, But Are Navigating Uncertain Waters

As bitcoin navigates through the volatile waves of the crypto market, its price on Feb. 21, 2024, reflects a complex interplay of market dynamics. Oscillating between $50,820 and $52,902 within a 24-hour frame, the leading digital currency continues to showcase significant trading activity.

Bitcoin Technical Analysis: Oscillators and Averages Point to a Market at Crossroads

The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 21, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

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