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Electrum Bitcoin Wallet to Support Lightning Network in Next Release

Major Bitcoin wallet software Electrum will feature an in-house developed implementation of scalability solution Lightning Network in its next release. The next release of major Bitcoin (BTC) wallet software Electrum will support off-chain scalability solution Lightning Network (LN). The Electrum official Twitter account announced the upcoming LN integration in a tweet sent on Oct. 14. The tweet announced: “The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum's master branch.” Electrum also confirmed that the wallet will employ a new implementation developed in-house, written in Python. High hopes for Lightning NetworkLightning Network is believed by many Bitcoin proponents to be the solution to the network’s scalability limitations. Recently, the chief strategy officer at Bitcoin technology firm Blockstream has said that the current block size capacity may not even be needed in the future if off-chain scali..

Bitcoin Price: Sudden Sunday Drop Has Analysts Eyeing $7.8K Support

A test of resilience for Bitcoin price now revolves around an area with $7,400 as its bottom, one market analyst suggests. Bitcoin price (BTC) returned to sideways trading on Oct. 14 after a sudden dip on Sunday evening saw markets lose 2% in minutes. Cryptocurrency market daily overview. Source: Coin360 Bitcoin claws back lost groundData from Coin360 showed the largest cryptocurrency fluctuating around $8,300 at press time, having made up some of the ground lost during the downturn. BTC/USD spent much of the weekend grinding upwards, reaching local highs of $8,460 before dramatically reversing to bottom out at $8,200 minutes later. Since then, a slow recovery has been underway, paring 50% of the losses. Bitcoin seven-day price chart. Source: Coin360 The behavior mimics multiples occasions in recent weeks and months, during which Bitcoin punctuated periods of flat activity with sudden volatility either up or down. Various theories blamed traders and institutional investor settlemen..

Growth of BTC Millionaires Now Matches Bitcoin’s Early Years: New Data

Bitcoin wallets containing more than 1,000 BTC are now increasing at a rate seen only before the Mt. Gox collapse. The number of Bitcoin (BTC) addresses containing more than 1,000 BTC ($8.3 million) is growing at the same pace in 2019 as before 2014, new data shows. Woo “super bullish” on wallet trendUploaded to social media by Bitcoin statistician Willy Woo on Oct. 11, a chart of Bitcoin address growth by balance shows the network is now repeating a trend from its earliest years. Source: “The rate of growth of 1000BTC addresses now matches the early growth in Bitcoin's network,” he summarized. Woo was expanding on original data from blockchain analysis resource Glassnode. According to him, fresh desire for major Bitcoin balances at vastly higher prices than five years ago speaks to wealthier individuals coming into the space. If those generating addresses with over 1,000 BTC at that time were doing so out of technical curiosity, the incentives in 2019 are pu..

Bitcoin Price Flatlines at $8.4K as Bollinger Bands Predict Breakout

As Bitcoin price is stuck in a range with tightening Bollinger Bands suggesting a big move is coming, XRP and Ether look to capitalize on their recent bullish momentum. Bitcoin price (BTC) bulls looked as if they were taking charge last week as BTC/USD rose by over $1,000, albeit momentarily. Bitcoin rallied throughout the week from a low of $7,760 on Oct. 7 to over $8,800 where it was rejected around the 200 Day Moving Average (MA) on Oct. 11. After this point, 50% of the weekly gains were wiped out in a matter of minutes as it fell back down to the $8,300 range. As Bitcoin price attempts another recovery, could we start to see altcoins regaining momentum? A look at this week's charts across the top-3 cryptocurrencies certainly paints a very interesting picture. Weekly Crypto Market Performance. Source: Bitcoin price overviewBoth BTC/USD runup and rejection towards the 200 Day MA wasn't exactly unexpected. Using the Moving Average Convergence Divergence (MACD..

Bitcoin Price: Which Countries Have the Biggest Premiums?

Crypto price premiums are a thing! Which countries suffer the most and how big is the difference in price for a Bitcoin? Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin. At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange market for around 26,000,000 Korean won, equivalent to about $22,000. This difference is now known as the Kimchi premium. Since then, starting with the introduction of various regulatory frameworks by South Korea to reduce regional premiums that included the prohibition of trading cryptocurrencies with foreigners in the local market, premiums in major markets have declined substantially. Still, due to the lack of supply and the relatively high demand in some markets, Bitcoin is being traded at a premium in certain regions — some higher than most. Hong Kong’s OTC Bitcoin market: 2% to..

Bitcoin Will End the Reign of ‘Dictators and Toll Trolls,’ Says...

Combined with other technologies, Bitcoin will change how governments operate worldwide, according to billionaire investor Tim Draper. Billionaire investor Tim Draper has stated that he expects Bitcoin (BTC) — combined with other technologies — to change how governments operate worldwide. In a Medium post published on Oct. 10, Draper calls Bitcoin “the startup currency” and praises its decentralization and borderless nature, saying he believes that BTC will bring the world together: “With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. [...] In the long-term I believe with regard to business and economics, we are, more than ever, one world.” Bitcoin will end tribalismDraper also accuses those dismissing Bitcoin of clutching to tribalism, and reiterates the belief that “tribalism is dying.” He also compares the attempts to retain power to the ro..

Crypto Market Hardly Needs a Bitcoin ETF at This Time, Says...

Bitcoin ETFs are hardly needed for the ecosystem’s development, says founder and CEO of crypto investment firm BKCM Brian Kelly. Founder and CEO of crypto investment firm BKCM Brian Kelly has said that Bitcoin (BTC) exchange-traded funds (ETF) are hardly needed for the ecosystem’s development, given that the coin is already available on regulated platforms such as Fidelity and TD Ameritrade. Kelly made his remarks during an interview with CNBC published on Oct. 11, explaining: “You have companies like Fidelity and TD Ameritrade starting to push into this space. So ultimately you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like a regular brokerage account. So I’m less concerned that you need a bitcoin ETF at this point in time.” He also pointed out that the United States Commodity Futures Trading Commission’s (CFTC) decision to define Ethereum as a commodity made a significant impact on the space, adding: “The CFTC saying that Ethereum is a..

Bitcoin Price Diary: How REN/BTC Double Bottom Made Me 49% Profit

In the third installment of the Bitcoin Price Diary, veteran trader Scott Melker revisits some recent successful trades including a sizable position on REN/BTC. In this third installment of my Bitcoin Price Diary, I’ll revisit some open positions which are still in play and review a sizable trade on REN. I also have a position in Bitcoin (BTC) that is still largely open. As I have said a number of times on Twitter, I believe that it has been an altcoin season for months and that altcoins found their local bottoms in August. I have been comfortably trading them since. In early October, Bitcoin dropped and was ranging sideways, giving altcoins even more room to appreciate. At the time of writing, Bitcoin price is a few days removed from a sizable 6.6% move up, which caused a drop across the board on many altcoins. I am proceeding with caution on altcoins for the moment until Bitcoin has provided clearer direction for its next move. I prefer to keep my active trades at a minimum becau..

Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain...

Jihan Wu, CEO of mining giant Bitmain, believes the next Bitcoin block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt. Bulls may be late this timePer the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the halving. He is also confident that in a long-term perspective crypto enthusiasts should invest in mining hardware, adding: “There are many uncertainties, but now is a good time to invest in crypto mining. If I were a miner, I would not stop mining but continuing to invest in mining equipment. We are currently in a short-ter..

PoS Will Make Ethereum More Secure Than Bitcoin, Says Vitalik Buterin

After the proof-of-stake consensus algorithm is implemented, Ethereum will be more costly to attack than Bitcoin, says Vitalik Buterin. After the proof-of-stake (PoS) consensus algorithm will be implemented in Ethereum’s (ETH) blockchain, it would become more secure and costly to attack than Bitcoin (BTC), co-founder Vitalik Buterin has stated. Buterin has voiced this opinion during Devcon 5, the Ethereum developers conference that took place in Osaka on Oct. 8–11. He specifically noted that — after the transition to PoS — higher cost of a potential attack would make Ethereum the safer network of the two. Some men just want to watch the blockchain burnButerin started his presentation by talking about Bitcoin and paying homage to its pseudonymous creator Satoshi Nakamoto, noting that he created crypto economics to motivate people to maintain the network. The way the system was designed ensured that attackers would need to spend a great amount of money to successfully compromise the blo..
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