Should Bitcoin Bulls Fear Gold’s Unexpected Rally?

Gold has been rallying alongside bitcoin the past few months, and with this move in gold, there has been an increase in traffic at precious metals sellers as consumers unload expensive watches and precious metals. What does this signify for bitcoin, if anything? Why the Gold Rally? The gold and Bitcoin prices have both rallied in 2019. | Source: TradingView Pawnshops have existed for centuries. Stores that specialize in buying gold cropped up during the financial crisis. With unemployment soaring and gold pushing $2,000 per ounce, citizens across the country…

Blockchain for the Food, How Industry Makes Use of the Technology

As blockchain continues to push for mass adoption, the food and beverage industry is shaping up to be one of the most inclusive destinations for the technology: Just over the past few months, a variety of players — including juggernauts like Nestlé, Carrefour and Starbucks — have reported on their latest blockchain-powered initiatives within the field.  Indeed, in 2019, blockchain has been piercing the food industry at an accelerated pace. According to recent research, 20% of the top-10 global grocers will use blockchain by 2025. So, what makes the technology…

European Central Bank Exec Calls for Fast Regulatory Action Regarding Libra

European Central Bank executive board member Benoit Coeure said that financial regulators must act fast to prepare for Facebook’s Libra stablecoin, Bloomberg reports on July 7. Per Bloomberg, Coeure argued on Sunday in Aix-en-Provence in southern France that allowing for the development of new financial services and asset classes in a regulatory void is irresponsible. He concluded: “We [financial regulators] have to move more quickly than we’ve been able to do up until now.” According to Coeure, the development of digital assets has exposed gaps in current financial regulations, and…

Bitcoin Hash Rate Hits New All-Time-High

The Bitcoin (BTC) hash rate reached a new all-time high today, according to data from monitoring resource Blockchain.com on July 7. The previous record was broken in the second half of June, when bitcoin’s hashrate reached 65.19 TH/s and growth has steadily continued since then. Hash rate is the number of calculations that a given hardware or network can perform every second. It is a very important parameter for miners, as a higher hash rate will increase their chances of solving the mathematical problem, sealing off the block and collecting…

Generation Z Does Not Plan to Buy Cryptocurrency

Generation Z does not plan to buy cryptocurrency, according to the results of a survey conducted by Business Insider released on July 5. Per the report, SurveyMonkey Audience partner Cint surveyed 1,884 U.S. residents between ages 13 to 21 to learn the opinions Generation Z. The survey participants were asked how likely they were to purchase cryptocurrency in the next six months, and over 52% answered: “not at all.” Furthermore, only 5% answered “extremely likely,” 6% “very likely,” 15% “somewhat likely,” and 17% “not so likely,” while 4% gave different,…

Top 5 Crypto Performers: XMR, BTC, BNB, ETC, XRP

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. The current hot debate is whether bitcoin will continue to rally while altcoins languish. Many have been outspoken in support of the largest cryptocurrency as it maintains its market dominance above 62%. Though bitcoin is the undisputed leader, it is unlikely that it…

Bitcoin Below $11,400 as Top Cryptos Trade Sideways

Sunday, July 7 — Мost of the top 20 cryptocurrencies are trading sideways at press time, as bitcoin (BTC) hovers under the $11,400 mark. Market visualization courtesy of Coin360 Bitcoin is currently down by 0.10% on the day, trading around $11,361 at press time, according to Coin360. Looking at its weekly chart, the coin is down by 0.45%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier this week, American investor and co-founder of Morgan Creek Digital Assets Anthony “Pomp” Pompliano explained his investing strategy and skepticism towards fiat currency…

Regulatory Overview of Crypto Mining in Different Countries

A move by the Iranian government to cut off the power supply to local Bitcoin (BTC) miners grabbed headlines in June amid a soaring price gain by the preeminent cryptocurrency. As Bitcoin surged to prices not seen since 2017, a rising hash rate mirrored renewed interest in the cryptocurrency. By July 1, the Bitcoin mining hash rate surpassed 69 quintillion hashes per second. Nevertheless, the action by Iranian officials is a stark reminder that regulatory moves can still hold sway over the use of cryptocurrencies around the world. The Bitcoin…

Bitcoin’s 20% Slump From 2019-High Won’t Kill Strong Bullish Fundamentals

Since June 26, within the past three weeks, the bitcoin price has declined from $13,868 to around $11,200 by 20 percent against the U.S. dollar. After recording a 250 percent increase in value year-to-date at its yearly peak, a pullback for bitcoin was generally anticipated by traders. Following its 20 percent decline, fundamentals for the dominant crypto asset remain strong as seen in its hash rate achieving an all-time high. What does all-time high bitcoin hash rate indicate? Since January 2019, the hash rate of the Bitcoin blockchain network has…

Bitcoin (BTC) Price Trading Near Make-or-Break Levels

After a strong recovery, bitcoin price struggled to gain momentum above $12,000 against the US Dollar. The price topped near the $12,050 level and recently corrected gains below $11,500. There is a major bearish trend line forming with resistance near $11,700 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could either surpass $11,700 and $12,000 or decline further below the $10,800 support. Bitcoin price is facing a couple of strong resistances near $11,700 and $12,000 against the US Dollar. BTC must surpass the $12,000…