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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.

In contrast, a Trump win could send Bitcoin into the "$80K-90K range" by the fourth quarter under such a scenario, the analysts wrote.

Bitcoin Could Sink to $30,000 If Kamala Harris Wins Election, Says Bernstein

Ethereum

According to a new JPMorgan report, the cryptocurrency market needs a new catalyst to drive the sector forward and spark “enhanced retail engagement” to reverse August's market downtrend. What Happened: JPMorgan analysts, led by Kenneth Worthington, highlighted the broader challenges facing the crypto ecosystem, stating, “Overall, we continue to see the crypto ecosystem lacking major catalysts, and we thus expect crypto token and asset prices to be incrementally more sensitive to macro factors,” Coindesk reported.

Bitcoin, Ethereum Need New Catalyst For 'Enhanced Retail Engagement,' JPMorgan Says

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 9, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Reclaims $55K Ahead of Tuesday's Harris-Trump Debate

Australia's Monochrome Bitcoin ETF is partnering with Hoseki to implement proof-of-reserves, becoming the first Australian spot Bitcoin ETF to provide daily verification of holdings.

Australian Bitcoin ETF to Implement Proof of Reserves with Hoseki

The Fed is expected to begin its much-anticipating rate-cutting cycle from next week.

A 0.50% Fed Rate Cut Could Raise Alarm for Bitcoin, 10X Research Warns

According to a director of a non-profit organization, investors' growing interest in artificial intelligence (AI) may be diverting funds away from crypto startups. The director suggested that the diminished investor interest, even with a rising crypto market, supports this assertion.

Graph Foundation Director: BTC Rally Fails to Rekindle Investor Interest in Crypto Startups

"This year's Bitcoin price structure is starting to look eerily similar to 2019," one analyst noted.

Bitcoin Climbs 2% While Analysts Remain Wary of US Inflation Report

Japan's largest power company TEPCO has begun mining Bitcoin through its subsidiary using excess renewable energy, showing how Bitcoin can incentivize green energy growth.

Japan's Largest Power Company TEPCO is Mining Bitcoin Using Renewables

Donald Trump currently leads Kamala Harris 52% to 47% on the decentralized predictions platform Polymarket.

Bernstein predicts a bitcoin price of $80-90k if Trump wins presidential race, or $30-40k if Harris is elected

Stacks, the Bitcoin Layer-2 protocol, has achieved a new high in smart contract deployments, with a 30% month-over-month increase. This growth reflects the ongoing efforts of developers to enhance the Bitcoin ecosystem, making Bitcoin a more productive network.

Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract Deployments

New data from market intelligence platform IntoTheBlock reveals that crypto whales have accumulated over $10 billion worth of Bitcoin (BTC) during the last six months.

‘Unfazed by the Market' – Whales Accumulate Over $10,271,000,000 in Bitcoin in Just Six Months: IntoTheBlock

If Kamala Harris wins, bitcoin could drop to as low as $30K, the report said.

Bitcoin Could Hit $90K by Year End if Trump Becomes President Again: Bernstein

Despite the recent downturn in the market, cryptocurrency analyst Michaël van de Poppe believed that a major Bitcoin (CRYPTO: BTC) crash is not on the horizon. What Happened: In an X post on Sunday, Van de Poppe noted that while Bitcoin's price has corrected by 26% from its all-time highs in March, he does not see this as a sign of an impending crash.

Top Crypto Analyst Rules Out Possibility Of 'Big Bitcoin Crash' In The Days Ahead: Here's Why

Low liquidity, represented by market depth, is often seen at market bottoms, Hyblock Capital said.

Bitcoin Bottom In? BTC Order Book Liquidity Says Yes

Now markets look toward more U.S. inflation data this week and the first presidential debate between Harris and Trump.

Bitcoin, ether remain subdued as markets process underwhelming US economic data

A closely followed crypto strategist says he's seeing signals that Bitcoin (BTC) is in the early stages of reversing its latest correction. Pseudonymous analyst Credible Crypto tells his 417,400 followers on the social media platform X that Bitcoin trader activity suggests that BTC could be setting up for a short squeeze.

Trader Predicts Healthy Rise for Bitcoin, Says BTC Flashing Multiple Signs of Potential Bottom Formation

BitMEX co-founder and prominent crypto investor Arthur Hayes has closed his Bitcoin (BTC) short position.

Arthur Hayes Closes Short, Suggests BTC Might Rally Due to Increased Dollar Liquidity

Fractal Bitcoin launched its mainnet today, deploying a Bitcoin scaling solution that leverages the core codebase.

Unisat-backed Fractal Bitcoin goes live on mainnet, taps into BTC core code for scaling solution

The cryptocurrency derivatives market is signalling bearish sentiments for major crypto assets like Bitcoin (BTC) and Ethereum (ETH).

Crypto Options Signal Near-Term Bearish Sentiment for BTC and ETH

The first-ever cryptocurrency exchange-traded funds (ETFs) that were introduced in Hong Kong earlier this year have experienced subpar performance and a lack of investor interest, despite the initial excitement surrounding their launch. What Happened: A recent report by Nikkei Asia revealed that these ETFs, which monitor the performance of leading currencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), have all recorded negative returns since their inception.

Bitcoin, Ethereum ETFs Of Asian Origin Record Lackluster Performance As Volatility And US Regulatory Uncertainty Keeps Investors Away

The asset and broader crypto market tend to move on the release of U.S. economic figures and political developments.

Bitcoin 'Grossly Undervalued' at Current Prices, Traders Say Ahead of CPI, Trump-Harris Debate Week

Influential economist and fierce Bitcoin (CRYPTO: BTC) critic Peter Schiff stated that his pessimism about the leading cryptocurrency may be proven wrong if it becomes a mainstream payment medium. What happened: During a debate with Jack Mallers, CEO of Bitcoin startup Strike, Schiff indicated that broader adoption of Bitcoin as a payment alternative to existing fiat currencies might change his opinion, starting from something as basic as paying for a dinner at a restaurant with the digital coin.

Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news from the past week.

Latam Insights: Venezuelan Opposition Leader Proposes Bitcoin Reserve; Maduro Wants to Retake the Crypto Path

Dogecoin

Leading cryptocurrencies edged higher Sunday as the market sought to rebound from last week's losses.

Bitcoin, Ethereum, Dogecoin Spring Back From Friday's Fall: Analyst Flags 'Peak' Bearish Sentiment That Could Result In A Market Bottom

Veteran commodities trader Peter Brandt says that Bitcoin (BTC) is flashing hints that it is gearing up to massively outperform gold. According to Brandt, Bitcoin priced in gold (BTC/GLD) is printing a multi-year inverted head and shoulders (H&S) pattern, suggesting that BTC preparing to run faster than the precious metal.

News for Bitcoin Crypto (BTC)