Holding steady! With Bitcoin (BTC) holding its price over the last week it feels like a win after weeks and weeks of red candles. The first green candle week since May was a welcome site, even if the "King" of crypto wasn't up very much after falling in the past day or so.
It appears that "whales" are buying up Bitcoin every time it falls below the $20K mark forming a strong resistance support level there. BTC is still on track to record its worst June in history, however, any sort of price stabilization or uptick will start giving investors a small dose of confidence at this point which would be a welcomed relief.
The Crypto fear and greed index, highlighted below, is at 12 up three points from last week and remains in "extreme fear" currently a sign that investors are very nervous about Bitcoins price direction.
The broader stock market fell this morning and Bitcoin followed suit as the strong correlation to the NASDAQ composite remains. Looking at technical analysis, Bitcoin does look like it can reach the $22K mark if the stock market can climb with $24K not out of the question but it is still not out of trouble unless it can rally close to the $28K mark which at the moment seems unreachable unless we get a bevy of positive news and a reverse in the stock market.
Ten Must-Read Bitcoin Articles
- First Mover Americas: Bitcoin Holds $21K as BTC Outflows Hit Record High (CoinDesk)
- Bitcoin’s energy use drops following price plunge (The Verge)
- El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances (CNBC)
- Google users think BTC is dead — 5 things to know in Bitcoin this week (Coin Telegraph)
- Bitcoin balance on exchanges at 3-year low spelling bullish sentiments for BTC (Finbold)
- Miners Signal That Bitcoin Bottom Could Be Near (ETF Trends)
- Bitcoin can be the undoing of inequity (Bitcoin Magazine)
- Where Does Coinbase’s Bitcoin Futures Offering Fit? (TipRanks)
- Investors Pile Into Short Bitcoin ETF Betting on Prices to Fall (CoinDesk)
- When You Should’ve Bought Bitcoin, and When It Became a Terrible Idea (Slate)
Bitcoin Price Statistics (as of 6/27/2022, 8:00pm EST)
- Bitcoin Price = $20,751
- Last Week = $20,664
- Weekly High = $21,481
- Weekly Low = $19,864
- Market Cap = $396,998,569,672
- Market Cap Dominance = 40.598%
- All-Time High = $69,044.67 on November 10, 2021
statistics provided by CoinGecko
Up-to-the-Minute Bitcoin Price Statistics
Bitcoin Fun Fact of the Week
In 2013, James Howells, who lives in Wales, threw out a hard drive with 7,500 bitcoins on it. When he realized how much the value of Bitcoin had shot up in recent years, he went looking for the drive. Now, he’s trying to get his local city council to allow him to excavate the landfill in an attempt to find the drive. He’s claiming to offer a portion of the proceeds if the city allows him to look through the trash.
Bitcoin Tweet of the Week
Bitcoin Mining Statistics
- Miners = 5,662,965
- Hashrate = 220.27 EH/s
- Difficulty = 29.57T
- Emission (24hr) = 831.3 BTC
- Circulating Supply = 19.08M (90.8%)
statistics provided by MiningPoolStats
Crypto Fear & Greed Index
index provided by Alternative
Where to Buy and HODL Bitcoin (Referral Links)
- Coinbase (Get $10 in Bitcoin)
- Crypto.com (Get $25 to sign up)
- KuCoin (Lend out your Bitcoin)
- Midas Investments (Get 13% APY on your Bitcoin)
What is Bitcoin?
Bitcoin (BTC) is a decentralized digital cryptocurrency. Bitcoin was invented by the person or persons under the pseudonym Satoshi Nakamoto as described in the Bitcoin Whitepaper released on October 31, 2008. The original cryptocurrency began trading in January of 2009 and could be transferred in a peer-to-peer fashion implemented using open-source software. The transactions are recorded and stored on a public ledger called a blockchain. Only 21 million Bitcoins will ever be minted with one million being owned by its creator(s).
For more on Bitcoin, please read What is Bitcoin? [A comprehensive Guide to Understanding Bitcoin] on Publish0x written by Mr.CryptoWiki
For information on the Bitcoin whitepaper, please read I Finally Read the Bitcoin Whitepaper on Publish0x written by CryptoMasterMiner
Find Bitcoin on Bitcoin.org, Reddit, Twitter, Instagram, Facebook
