Bitcoin’s compound annual growth is ‘an unheard-of’ 200% CAGR

Bitcoin (BTC) has delivered returns which are “unheard of” in history and ultimately leaves Tesla stock in the dust.  That’s according to fresh data from on-chain monitoring resource CaseBitcoin, which this week delved into Bitcoin’s astonishing compound annual growth rate (CAGR). BTC hodling: 10 years, 5,200,000% returns A familiar phrase among crypto and traditional investors alike, CAGR is often overlooked as an overly simple gauge of Bitcoin’s performance versus other assets. In its twelve-year existence, however, the largest cryptocurrency has achieved so much that it has, in fact, outperformed everything…

Crypto leaders back MIT’s four-year initiative to harden Bitcoin’s security

The Massachusetts Institute of Technology’s Digital Currency Initiative has revealed a new “Bitcoin Software and Security Effort” intended to foster research into bolstering the Bitcoin network’s defenses. The open-source initiative has received support from a diverse group of crypto industry leaders, including Gemini’s Cameron and Tyler Winklevoss, MicroStrategy’s CEO Michael Saylor, Square CEO Jack Dorsey, and major European digital asset manager, CoinShares. In a blog post unveiling the project, DCI said that Bitcoin’s ascent from an “obscure cryptographic toy” to a robust network that “secures on the order of $1…

Bitcoin Cash is on the brink of falling below 1% of Bitcoin’s price

Bitcoin Cash (BCH) holders have no reason to celebrate, despite the 46% year-to-date gains in U.S. dollar terms. One year ago, the altcoin was the third-largest by market capitalization. It now risks dropping out of the top 10, having been surpassed by other cryptocurrencies including Litecoin (LTC) and Chainlink’s LINK. BCH/BTC. Source: TradingView After three years of continuous devaluation, BCH finally traded below 0.01 Bitcoin (BTC) on Feb. 22. Besides being psychological support, it marks a 96.5% devaluation from its highest close of 0.285 BTC on Aug. 2, 2017. Even…

Altcoins and DeFi sell-off after Bitcoin’s 17.6% correction below $50K

In the early morning trading hours Bitcoin (BTC) price abruptly dropped by 17.65% which triggered a major downturn throughout the entire market. Data from Cointelegraph Markets and TradingView shows that Bitcoin decreased from a high of $58,274 on Feb. 21 to a low of $47,622 during the early hours on Monday before buyers returned to lift BTC to its current value of $53,350. Daily cryptocurrency market performance. Source: Coin360 Despite today’s $1.6 billion liquidation event, Bitcoin bulls remain optimistic about the future of the top cryptocurrency with key indicators suggesting…

Bitcoin’s market cap flipped Tencent on its way to $1 Trillion

At approximately $1 trillion, Bitcoin’s market cap has blown past Tencent, which holds a valuation of roughly $917.8 billion at time of publication, according to AssetDash rankings.    Crypto’s largest digital asset is now sixth on AssetDash’s list of top market cap companies across the globe. Google, officially known by its parent entity, Alphabet (GOOGL), holds the fifth spot with a market cap of approximately $1.4 trillion at time of publication. “After reaching a new all-time high price mark, bitcoin surpassed Chinese tech giant Tencent, moving it up to the…

Bitcoin’s market cap breaks $1 trillion after tripling in three months

Bitcoin has rallied into new all-time highs above $53,700, pushing its market cap above $1 trillion for the first time. Bitcoin’s late 2020 rally appeared to be sparked by an unprecedented wave of demand from institutions and billionaires, with the trend set after the world’s largest publicly traded business intelligence company, MicroStrategy, revealed it had converted $250 million of its treasury into BTC on Aug. 11. BTC/USDT daily chart. Source: TradingView By the end of January 2021, MicroStrategy had invested $1.095 billion to accumulate 71,079 BTC or 0.38% of Bitcoin’s…

Bitcoin’s Price Volatility May Hamper Its Progress Above $50K, JPMorgan Says

Bitcoin’s price volatility needs to subside for the cryptocurrency to continue its stellar rally, according to analysts at investment banking giant JPMorgan. In a note on Tuesday reported by Reuters, the analysts drew attention to bitcoin‘s high volatility relative to gold, the classic inflation hedge, as an obstacle to significant gains beyond current levels around $51,000. “Bitcoin’s three-month realized volatility, or actual price moves, is 87% versus 16% for gold – an asset, proponents say it could threaten,” the investment bank said. While bitcoin is increasingly described as “digital gold,”…

Bitcoin’s Coinbase premium turned negative. Here’s what it means for BTC price

Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least, in the short term.  The Coinbase Premium Index, which measures the gap between the BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In other words, selling pressure on Coinbase appears to be strengthening compared with other exchanges like Binance. A negative reading on the Coinbase Premium Index could be a precursor to short-term resistance. On the other hand, when…

BTC miners pocket $4M in 60 minutes, the highest hourly revenue in Bitcoin’s history

According to data from Glassnode, Bitcoin (BTC) miners made over $4 million in just under an hour on Feb.  12, making it the biggest hourly revenue in history. In May 2020, Bitcoin underwent the third block reward halving in its history, cutting the amount of new Bitcoin mined in half. After a block reward halving, the amount of BTC miners can mine using computing power decreases by half. Hence, miner revenues decrease by 50% overnight, which could cause strain on mining operations in the short term. At the same time,…