Bitcoin Fees Hit 3-Year Low as Lightning Network, SegWit Help BTC Scale

Bitcoin’s transaction fees have recently hit a low they hadn’t seen in over three years, as according to BitInfoCharts the median transaction fee on the flagship cryptocurrency’s network is just $0.029. As pointed out by cryptocurrency community researcher Kevin Rooke on Twitter, the Bitcoin network hadn’t had fees this low since October 2015, when it was trading at about $270. Bitcoin tx fees just hit their lowest level in over 3 years! Jan 1, 2019:Median Bitcoin tx fee = $0.02Total transactions = 234,576 Oct 13, 2015:Median Bitcoin tx fee =…

A Year Ago Today Bitcoin’s Price Hit a Record $20k

Bitcoin (BTC) is still struggling to find the bottom of a bear market on the anniversary of its $20,000 all-time record price high. At press time, the world’s largest cryptocurrency by market capitalization was trading at $3,230 on Bitstamp – down 83.5 percent from the record high of $20,000 reached on Dec. 17, 2017. BTC is also down 76 percent on a year-to-date basis (from its opening price of $13,880 on Jan. 1) and is on track to end its three-year winning streak. The picture, however, was remarkably different in…

Bitcoin Price Defies Oversold Conditions to Hit 15-Month Low

Bitcoin (BTC) tumbled to 15-month lows earlier today, dashing hopes of a rally signaled by current extreme oversold conditions. The world’s largest cryptocurrency by market capitalization fell to $3,200 on Bitstamp at 00:15 UTC – the lowest level since September 2017. BTC was trapped in a five-day-long narrowing price range 24 hours ago and showed signs that it might break upwards with a strong move toward the crucial resistance at $3,633. These bullish expectations were based largely on a premise that the sellers are facing exhaustion, as indicated by the…

Bets On Bitcoin Price Decline Hit 6-Week High

The pessimistic sentiment around bitcoin prices saw the number of shorts hit a six-week high on Thursday. The BTC/USD short positions on the cryptocurrency exchange Bitfinex jumped to 37,891 – the highest level since Oct. 15 – and were last seen at 36,996. Notably, shorts have risen by 95 percent in the last three weeks, accompanying BTC’s recent drop to 14-month lows near $3,500. More importantly, the short positions remained elevated above 35,000 during BTC’s oversold bounce from $3,500 to $4,400 and climbed to fresh multi-week highs on Thursday. Further, the…

Google Searches for ‘Bitcoin’ Just Hit Their Highest Level Since April

Google’s trend explorer reveals the weekly number of worldwide searches for the keyword “bitcoin” has reached levels not seen since the first week in April.  While the exact number of searches accrued so far this week is not clear, data from Google reveals ‘bitcoin’ searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from Dec. 17-23, 2017. At that time, the cryptocurrency was trading around its record high near $20,000, while at the time of writing, it is valued at $4,167…

Craig Wright’s Bitcoin Cash Fork Can Hit $1 Million: Fmr Reddit Crypto Dev

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. According to former Reddit crypto lead-turned-entrepreneur Ryan X. Charles, there are only a couple options for the future of Bitcoin, specifically Bitcoin Cash-spinoff Bitcoin SV — it goes to astronomical highs, or it goes to zero. To illustrate his point, published the following tweet on Friday. It seems he has decided that of the two networks that came out of the BCH hard fork, he’s on the side…

$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…

Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

Twitter Facebook LinkedIn After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million. Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a…

The Number of Bitcoin Short Positions Just Hit a 3-Month Low

The bearish sentiment around bitcoin sank to three-month lows earlier today as short positions placed on crypto exchange Bitfinex fell to their lowest level since August 5th. At approximately 11:00 UTC, the number of short positions dropped to 21,434, which represents a 33 percent drop in the past eight days alone. During the same time, longs – or positions that are betting on an increase in bitcoin’s price – also witnessed a notable increase of 10 percent, the current number of which (24,410) marks a three-week high. Indeed, the sentiment here seems…

Bitcoin Futures Volatility Hit Record Low in October: CBOE

Twitter Facebook LinkedIn Bitcoin has been unusually stable in recent weeks, and the decrease in volatility has now reached historic levels in the futures markets. Bitcoin Volatility Hits Record Level in Futures Markets That’s according to Kevin Davitt, senior instructor for The Options Institute at CBOE Global Markets, who said that Chicago-based derivatives exchange saws record low volatility in its bitcoin futures market during the month of October. Speaking on the subject during CBOE’s latest weekly bitcoin futures roundup, he said: “Last week, which ended on October 26, saw the…