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Bitcoin (BTC) could rally to a high of $125k in late 2024 amid institutional adoption, Matrixport said in report. The crypto services provider’s Bitcoin price prediction comes amid BTC’s surge to $35k. Spot Bitcoin ETF approval could be one of the catalysts of the bull market. Bitcoin’s jump to above $35,000 this week came amid the crypto market’s latest spot Bitcoin ETF anticipation. This has the flagship cryptocurrecy looking at potentially printing the first consecutive weekly green candle since late July/early August when it went on to hit lows of $24,900 in September. BTC has notably retreated from the $35k level and is battling to strengthen above $33.5k as of Friday afternoon, October 27. What could drive Bitcoin price to $125k? While some analysts say the crypto could look to retest key support levels, crypto services platform Matrixport says in a new Bitcoin price prediction that the benchmark cryptocurrency could soar to $...

Despite a rebound in transaction activity, the Bitcoin transaction fee has plunged to its lowest since March 2023. Prominent cryptocurrency analytics platform IntoTheBlock has reported a massive plunge in Bitcoin (BTC) transaction fees. Per data shared by ITB, Bitcoin’s daily fees stand at $3.6 million, representing a plunge of 37.7% compared to its previous day. According to IntoTheBlock, the Bitcoin fee has dropped to its lowest since March 2023, despite a rebound in transaction activity. #Bitcoin fees dropped to their lowest since March, despite transaction activity rebounding pic.twitter.com/xT9VMYoXOP — IntoTheBlock (@intotheblock) July 14, 2023   When writing this line, the number of unconfirmed Bitcoin transactions in the mempool waiting to be added to the block is currently around 237,718.  Bitcoin Average Fee Surges 29.4% Meanwhile, data from YCharts shows that the average Bitcoin transaction fee currently stands at $1.614, up 29.4% from the p...

For the past few years, Africa has registered significant activity with respect to Bitcoin. Several reports by Chainalysis revealed that between 2020 and 2021, the cryptocurrency market in Africa experienced a remarkable growth of more than 1200%. Additionally, Kenya, Nigeria, South Africa, and Tanzania, four African nations, have all secured positions within the top 20 countries globally in terms of cryptocurrency adoption. In addition to the aforementioned data, Africa is also recognized as the region with the second-largest number of crypto currency holders globally. This highlighted the significant presence and participation of Africa n individuals in the world of crypto currencies. Africa and its internet woes The COVID-19 pandemic accelerated the process of digitalization, with increased reliance on digital technologies due to limited physical interactions. However, Africa n countries, as well as other nations with weak power infrastructures, faced challenges in keeping up w...

Ordinals on Bitcoin debuted in January 2023 and have been a hot topic of discussion since then. Ordinal Inscriptions are quite similar to NFTs but come with a slight twist. Simply put, they are digital assets inscribed on a Satoshi, the lowest denomination of Bitcoin. The network’s SegWit and Taproot upgrades that took place to improve the privacy and efficiency of the network also opened the doors for Satoshi inscriptions. In February, a developer forked the Ordinals project to PoW blockchain Litecoin. At that time, a pseudonymous Twitter user with the username indigo_nakamoto offered around 5 LTC [approximately $500] to anyone who could port Ordinals to Litecoin. The reward was later increased to 15 LTC and 22 LTC. Motivated by the bounty, Australian software engineer Anthony Guerrera posted a repository on GitHub that forked the Bitcoin Ordinals protocol to Litecoin. Likewise, people from the DOGE community copied the Ordinals protocol to create the same functionality on Dogecoi...

Bitcoin (BTC) has had a down day on the crypto markets. According to CoinMarketCap, BTC is down from over $28,878 to $27,519.55, a drop of over $1k. Where is the drop stemming from? Source: Finbold Bitcoin Price Drop Today: May 8 The top cryptocurrency is experiencing this dip in price likely due to the rising transaction fees seen today. Binance has been holding off multiple BTC transactions today, therefore, the combination of transaction congestion and continuous attempts is causing the price of BTC to dwindle. While Binance has fixed the clog of BTC transactions waiting to clear, the damage has already been done to Bitcoin today. BTC holders panic sold their Bitcoin, and according to the Twitter user and BTC analyst Stack Hodler, bought Tether instead. BTC has been going down over the past week, therefore, holders may be cautious of a potential bearish period for the cryptocurrency. bitcoin btc Source: https://thebittimes.com/why-is-bitcoin-d...

Regulators in the US have undoubtedly been taking measures to protect cryptocurrency investors. Nonetheless, community members have raised quite a few red flags of late. When the Department of Justice initially revealed that it was going to “announce a major, international cryptocurrency enforcement action,” there were speculations, that something “huge” will be announced. However, that was not the case. The government taking action against lesser-known crypto exchange Bitzlato made community members furious. In fact, a few outrightly questioned if the latest action was meant to distract people from the fact that they did not suspect anything about FTX . Read More: Bitcoin, ‘Bitzlato’ and the DOJ: What Just Happened? Grayscale CEO slams SEC’s 1-D approach Leaving aside the community, even stalwarts from the space started voicing out their opinions regarding the same. In a letter to the WSJ, Grayscale executive Michael Sonnenshein sl...

The last 34 days have been relatively quiet for Bitcoin. Since 1st December, the largest digital asset has strictly paraded between the range of $17360 and $16250. A minor breakout above $17360 was observed on 13th December. However, a quick correction followed on the 15th. Such price action would usually keep investors guessing, but according to data, there is contradictory behavior at press time. Source: Trading View Small Bitcoin Addresses Are Aggressively Accumulating? According to Santiment Analytics, BTC addresses holding between 0.1 BTC to 100 BTC are currently on an aggressive accumulation cycle. Over the past 6 months, these addresses increased their overall BTC holding by 9%. However, the interesting derivative of this particular behavior is its prevalence since 2017. These addresses started their holding spree during the 2017 bull market. A period of selling unraveled during the winter cycle but majorly these addresses have been on the front foot. In terms of consistenc...