Another Week Another Failed Attempt For Bitcoin at $40K: The Weekly Crypto Recap
In yet another week, Bitcoin's price was unable to conquer the coveted $40K mark. Altcoins had it even worse.
Crypto News
Cryptocurrencies represent an internet-based medium of exchange that takes advantage of cryptographical functions in order to conduct financial transactions. They leverage blockchain technology to achieve decentralization, immutability, and transparency.
According to the latest crypto news, there are thousands of cryptocurrencies in existence. However, the most popular ones include Bitcoin, Ethereum, Ripple, Binance Coin, Bitcoin Cash, Tezos, Tron, Litecoin, and EOS, acquire more than 80% of the total market cap.
Decentralized cryptocurrencies such as Bitcoin, have one substantial advantage - no single authority can control them. Instead, they are governed by an algorithm that’s pre-programmed and defined. This takes away the human factor and makes the entire network transparent and immutable.
Cryptos can be sent directly between two parties, in a rapid and cheap process, compared to traditional bank transfers. Since there is no central authority or a middleman, the users can go through the process without having to worry about complying with different rules.
The Latest Crypto News
Bitcoin Reserves on BlockFi to New Lows as BTC Price Sluggish
The decreasing BTC reserves on BlockFi suggest that whales are not interested in HODLing, but is there more to the story?
China Reportedly Orders Bitcoin Miners in Sichuan to Temporarily Cease Operations
Bitcoin miners in Sichuan have become the latest victims of China's ongoing crackdown on Bitcoin mining operations
Crypto Price Analysis & Overview June 18th: Bitcoin, Ethereum, Ripple, Cardano, & Solana
The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance. Bitcoin Bitcoin is up
Spanish Banking Giant BBVA to Launch Bitcoin Trading and Custodial Services in Switzerland
The Spanish banking giant BBVA will launch a bitcoin trading and custody service for private clients in Switzerland on June 21st.
Paraguayan Official Confirms: In July We Legislate Bitcoin
After hinting at potential cryptocurrency legislation last week, a Paraguayan official has confirmed that the rule is coming in July.
Bitcoin Whales Started Selling as BTC Dipped to $37,000 (Market Watch)
Bitcoin's price headed south again to a low of just over $37,000 as on-chain data suggests that whales have started to sell off some of their holdings.
Miami’s Mayor Lures Chinese Bitcoin Miners With Cheap Nuclear Energy
Bitcoin miners pushed out of China could find a new home with more incentives in Miami, said the city's mayor - Francis Suarez.
NASCAR Driver Landon Cassil to be Paid in Bitcoin and Litecoin
NASCAR's Landon Cassil has signed a partnership deal that will make him the first auto racer to receive crypto salary.
The Winklevoss Brothers Have Formed a Musical Band
The Winklevoss twins have started a music band... Which is not surprising considering everything else they've done.