Category: News Digest

The past week was tumultuous for bitcoin holders as the price of bitcoin temporarily collapsed to trade below the $3,000 mark for the first time in over a month. This correction was sparked after JPMorgan CEO Jamie Dimon publicly declared bitcoin a fraud and when Chinese bitcoin exchanges BTCC, ViaBTC, and Yunbi announced their closures. China was once considered the…

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In the past week, the price of bitcoin retracted as news out of China emerged that claims that Chinese lawmakers may ban cryptocurrency exchanges in the same way they put a seemingly temporary ban on initial coin offerings. According to Chinese news outlet Caixin, it is “the end of the virtual currency exchange era.” While cryptocurrency itself is not being…

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The price of Bitcoin exceeded the $5,000 mark for the first time in history on Asian digital currency exchanges on September 2. This new all-time high was subsequently followed by a steep correction down to the $4,500 mark on the same day. Nonetheless, the moment for Bitcoin has never been stronger than now. The crypto correction continued on September 4…

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In the past week, bitcoin’s often wrongly cited anonymity, or rather the lack thereof has been pushed to the forefront of user’s minds. It came to light that the IRS is using Chainalysis’ bitcoin transaction tracking application to identify bitcoin tax cheats and as Princeton researcher published a paper that outlines how easy it is to link bitcoin online shoppers’…

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While bitcoin has managed to stabilize above the $4,000 mark, it’s new post-fork counterpart bitcoin cash witnessed a tremendous rally beginning August 17. Bitcoin cash (BCH) rallied from around $300 to almost hit $1,000 on August 19 before corrected back to the $600-700 range on August 20 afternoon. The surge in the price of bitcoin cash was driven by its…

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The price of bitcoin hit yet another all-time high this week when the market managed to reach $4,190 on August 13 as SegWit has been locked in and will soon come into effect. However, that was not the only driver of the cryptocurrency’s price. The Bitcoin ecosystem is showing clear signs of maturing, with the cryptoasset not only into a…

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On August 1, bitcoin experienced a hard fork that created a new version of the cryptocurrency called bitcoin cash. While many community members were concerned about what a hard fork of bitcoin could mean for the digital currency’s value and its ecosystem, it seems that none of the potential doomsday scenarios happened. On the contrary, bitcoin rallied in the days…

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For the week ending July 30, BTC-E’s involvement in the Mt.Gox hack was revealed by a WizSecruity Report according to which Hackers collaborated with BTC-E and its owner Alexander Vinnik to steal the wallet.dat file stored in the centralized databases of Mt. Gox to gain access to nearly 630,000 bitcoin. The wallet.dat file was stolen in September 2011 and the…

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The much anticipated SegWit implementation could be one step closer to reality by the second week of August now that BIP 91 has been signaled by over the 80 percent of hash power needed to lock it in, which means that the Bitcoin blockchain will soon be optimized by 75 percent. Transactions will become cheaper as their size will decrease…

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The price of bitcoin has decreased over 33 percent since its all-time high just under $3,000 on June 12. By the end of calendar week 28, BTC-USD dipped below the $2,000 mark for the first time since May 27, 2017. The uncertainty surrounding the implementation of SegWit2x on August 1, which aims to upgrade the bitcoin blockchain to combat its…

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