Bitcoin Mining Industry Is Booming as Difficulty Soars 14% to New High

Mining difficulty on the Bitcoin (BTC) network has taken its steepest upturn in almost a year, data from major Chinese mining pool BTC.com reveals. On July 9, difficulty surged by over 14% to hit 9.06 trillion (9.06 T), at an average hash rate of 64.85 EH/s — a new all-time-high in the network’s history. The last time the network posted such a sharp increase in block producing difficulty was back in late July 2018, when it soared almost 15% over a 2,016 block interval.  At that time, however, average hash…

Bitcoin Price Breakout Eyes Massive Upside Beyond 2019 High

Bitcoin price bounced into the green during the European morning session yesterday and hasn’t left the territory ever since. The bitcoin-to-dollar exchange rate today established an intraday high of $12,794.27 on Coinbase exchange. The move upside brought the pair’s month-to-date returns 19.17 percent higher. But most importantly, the move helped bitcoin break above a crucial resistance area, indicating the asset’s likelihood of retesting its year-to-date highs of $13,868.44. The bitcoin price rally appeared despite a stronger intraday US dollar sentiment. The greenback on Monday edged up on a stronger-than-expected jobs data.…

Bitcoin Price Eyes Move Above $13K as Dominance Rate Hits 2-Year High

View Bitcoin’s violation of recent bearish lower highs with a move above $12,061 has opened the doors for a retest of $13,880. Prices reinforced the bull breakout with a successful defense of the former resistance-turned-support of $12,061 soon before press time. Bitcoin’s dominance rate has spiked to 27-month highs, backing the uptrend in prices. A high-volume UTC close below $12,000 would abort the bullish view. Bitcoin’s break above a key price hurdle looks to have set the tone for a retest of recent highs above $13,800. The top cryptocurrency bu…

Ripple Price (XRP) Eyes Fresh Weekly High: Bitcoin Breaks $12.5K

Ripple price remained in a positive zone and traded higher from $0.3860 against the US dollar. The price is now trading well above the $0.4000 level and it could continue to rise in the near term. Yesterday’s highlighted major bullish trend line is intact with support near $0.4010 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely to break the last swing high near $0.4108 and it could even surge above $0.4200. Ripple price is gaining bullish momentum above $0.4000 against the US…

CME Bitcoin Futures Record $1.7 Billion High in Notional Value

The Chicago Mercantile Exchange (CME) Group has announced more record-breaking highs for bitcoin (BTC) futures in an official Twitter post on June 28. The futures in question are standardized contracts that bind a party to buying or selling bitcoin at some set time after signing. According to the post, CME Bitcoin futures hit $1.7 billion in notional value traded on June 26, a 30% increase from its last recorded high. The open interest for BTC futures now sits at 6,069 contracts, reportedly as a result of institutional interest. New CME…

Bitcoin Price Sharp Drops 30% from 2019 High to Land Near $9,700

Since June 23, within a two-week span, the bitcoin price fell from $13,868 to $9,711, demonstrating a sharp correction of nearly 30 percent. The “Real 10” volume of bitcoin, which refers to the total verifiable volume of the dominant crypto asset taken from ten exchanges verified to have real volume above $1 million by Bitwise Asset Management, remains above $2.9 billion, a high figure compared to March. In March, the Real 10 volume was hovering at $300 million with the majority coming from the CME bitcoin futures market and Binance.…

These Are the Cities Googling ‘Bitcoin’ as Interest Hits 17-Month High

Data from Google Trends’ search analytics resource reveals that internet googling of ‘bitcoin’ (BTC) is now at a 17-month high, according to the most recently updated data for June 29. Internet searches for ‘bitcoin’ worldwide. 1 July 2017-29 June 2019. Source: Google Trends Amid the coin’s current bull momentum, public interest has ratcheted up to levels last seen on 11-17 February 2018 — a week in which bitcoin swung wildly between around $8,600 and $10,200 in the turbulent weeks that followed its 2017 all-time price highs. A geographical breakdown of…

Bitcoin Hits 17-Month High Above $12.9k

Views: Bitcoin (BTC) rose above $12,900 for the first time in over 17 months backed by consistent levels of volume. Recent price action could set scope for $13,700 in the coming day on the back of strong bullish momentum. The hourly chart reveals extreme levels of volatility presenting harsh trading conditions for the average trader. Bitcoin has risen above $12,900 for the first time since Jan. 21, 2018, touching a new high for 2019 at $12,919, according to CoinDesk’s BPI data. On June 26 at 03:00 UTC, Bitcoin broke out…

Bitcoin Buying Pressure Hits 2-Month High as Price Tops $11.4K

View Bitcoin jumped to fresh 15-month highs near $11,430 on Bitstamp earlier today, invalidating a bearish divergence on the 4-hour chart. With a key indicator reporting the strongest buying pressure in over two months, prices appear on track to test resistances lined up at $11,688 (March 2018 high) and $11,780 (February 2018 high). Repeated failure to hold on to gains at the crucial Fibonacci retracement level of $11,394 could yield a price pullback to the 100-hour price average, currently at $10,667. The bullish outlook would be invalidated only if prices drop…

Bitcoin Price (BTC) Sets New 2019 High: Stage Set For $12K?

There was a fresh increase in bitcoin and it broke the $11,250 resistance against the US Dollar. The price traded to a new 2019 high and it is likely to accelerate above the $11,500 resistance. There was a break above an ascending channel with resistance near $11,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is gaining momentum and it could even trade towards the $12,000 level in the near term. Bitcoin price is trading with a bullish angle above $11,200 against the US…