Categoria: Crypto News

Easy Miner is the most appreciated mining software available for LTC. It is open source and can be configured for a variety of devices. CGMiner is another good choice but since it is a command-line version, it is not for people who are used to graphics-based user interfaces. You will need to install the relevant ASIC software, which will communicate with the Litecoin network. Furthermore, a Litecoin wallet will let you store your earned coins. With the current LTC rate, it is unfeasible to use PCs or laptops, and even for dedicated hardware such as an ASIC, you will need a very powerful one to be able to earn a block reward. To truly understand and evaluate mining options, you will need to understand a few technical details and factors involved in the process. The foremost is the hashrate, which determines the difficulty of the network, protects its integrity, and secures against attacks and hacks. And keep in mind that cloud mining solutions are not free. If you simply want to test the waters, you can download a mobile mining app, but this option most likely won’t pay off in the long run.

Nicehash also has a cool feature where it picks the most profitable pools and takes 1% of the winnings but rewards you with BTC. Buying hash power from someone else’s miner is usually not profitable, but can be done through websites such as Kryptex or Nicehash. You can also assemble a GPU mining rig, but don’t expect to make much profit. The times when people could earn with GPU mining are gone. But it is a great way to familiarize yourself with the process, and avoid spending thousands of dollars on an occupation that doesn’t interest you. But some GPU miners were still not ready to shift to ASICs for mining bitcoin, so they started to explore different profitable coins.

What Gpu Is Good For Mining Litecoin?

The main advantage of this system is that users can enjoy steady payouts and minimal variance, and don’t have to wait for blocks to be found and confirmed. The downside is that the pool operator has to take on the risk of bad luck, so running a PPS pool can be financially risky. This option also creates a steadier stream of income, even if each payment is modest compared to the full block reward. Read more about zrx exchange here. Along with the Litecoin mining profitability, the list of top 5 Litecoin miners is updated frequently. As you continue mining, check your power bills and computer costs and compare them against the coins you are earning through mining. Refer to your power bill to find your exact kW/h price, as well as the amount of power that you use each month. You will need this wallet to store the coins that you earn while mining, or any coins that you purchase or receive.

After unzipping the software, you want to run unMineable as administrator. Also, if you run into any problems, make sure that your firewall or anti-virus aren’t blocking the software and allow unMineable to open, which can be done through your control panel. Depending on which ASIC you choose to mine with, you will choose them in the Main Hardware drop down section. All of these configurations may differ so it’s best to read everything on the website to see what configuration works best with your ASIC. When mining Litecoin, we’ll mostly focus on the beginner and intermediate’s way to mine. If you want to mine Litecoin, you really need to consider the following piece of hardware. When LTC mining first began, it was possible to make good profits by using just a CPU and a GPU . In reality, if you can’t afford to buy your own equipment and/or don’t want to take the risk, this is probably the best solution for you. In the real world, practically every financial system needs a central authority to confirm and process a transaction.

Is Litecoin Worth Mining?

It’s highly profitable right now because of the surge in price and the mining difficulty not quite catching up to it yet. Mining profitability will likely drop substantially soon, but it could still be a good investment for mining while it catches up to other mining algorithms. SHA-256 is Bitcoin’s mining algorithm and can be quite profitable. Mining Bitcoin is generally regarded as safe and consequently less profitable because of rampant and increasing competition for hash power. Bitcoin is regarded as a store of value and nearly synonymous with cryptocurrency to the public. Pools are the safe way to be rewarded on a consistent basis, and they are fundamental in crypto mining. You can tap into a number of great pool options such as litecoinpool and f2pool. Nicehash also has an interesting feature where it picks the most profitable pools and takes 1% of the earnings but rewards you in BTC.

If you’d like to learn more about cryptocurrency, we would like to encourage you to explore the various pages on our site, some of which were linked to from this tutorial. Whether or not you know what a cryptocurrency Wallet is, you’ve used one. Whether or not you know How Mining Works, you’ve seen how to start. Even if you don’t quite grasp the concept of a cryptocurrency public ledger, you have worked with a program that interfaces between you and the Litecoin blockchain. Visit the mining pool of your choice click to “Register” (with Litecoinpool.org, click “join“). Once you fill in the information needed to create your account and get an onscreen confirmation, log-in to the site. To make the instructions clear and specific, we will write the rest of the article assuming you’re using the mining pool Litecoinpool.org. To mine Litecoin, you’ll need some way to connect with the Litecoin network and a wallet in which to store your profits. The software that can do this for you is Litecoin Core, the official Litecoin client. After deducting mining power costs and mining fees, the final daily Litecoin mining profit is $1.17 Litecoin to USD.

Where to Save my Coins After Mining?

As previously mentioned, it has pre-installed software, and it takes some very basic configuration before you can start mining LTC with it. There are several factors that will make it more profitable to mine Litecoin and other digital assets. One of these things is related to the hardware used by the miner. Those using older ASIC miners will have lower performance than users that purchased newer and more powerful hardware. In the early days, one could mine on any decent computer. But due to the nature of mining, and how users are competing with each other to earn the block reward, devices used for mining have become incredible high-powered. Anyone trying to mine on a regular computer will get beaten to the punch every time. Litecoin mining can be profitable, but only under certain conditions. In the early days people could make a profit by mining with their CPUs and GPUs, but that is no more the case today.

However, you still may not be able to keep up with the mining network and large farms and pools of miners with one or even two ASICs. Once you choose a pool with acceptable fees and payout frequencies, you are ready to start mining Litecoin. Connect your Litecoin mining hardware to a power outlet and complete the connection to the Litecoin blockchain with your chosen software. Next, fill in details regarding your Litecoin wallet address and your chosen mining pool and you’re good to go. During the mining process, the latest transactions are verified for authenticity and compiled into blocks. The participant who first solves this problem receives a reward. This approach was specifically conceived as an incentive for those who donate the computing power of their computers to keep the network running and mine new coins. For the first time, such a method was applied in the digital currency Bitcoin. And now, most of the other cryptocurrencies operate according to similar principles.

The price of Litecoin is also expected to rise in the future, resulting in profits for the LTC miners. For that risk and uncertainty, an ASIC miner may be a risky purchase, but having a graphics card in a computer mining Ether seems risk-adjacent as of now. Likely the most profitable of all the miners, the Antminer L7 has one of the heftiest upfront costs. For just over $20,000, these miners will bring in over $50 a day without electricity included. These miners aren’t as easy as plugging in anywhere and letting them run. They are loud, hot, power-hungry machines that are generally a nuisance. The best place to get comfortable and used to how mining works is with a personal computer. These hosts sound great in theory; however, sites with low-priced electricity are already booked for a few years, and higher-cost electricity facilities aren’t profitable long term.

The process for creating workers varies depending on the mining pool you join.Many mining pools will create your first worker automatically when you register. The worker will typically be named “username_1” or “username.1”. Unless you have a warehouse full of GPUs and ASICs, you’ll need a mining pool. The one that has been around since the early days is litecoinpool.org, which even has the option of you giving a donation to the Litecoin Foundation. That being said, the best way to mine Litecoin is still through an ASIC. However, an ASIC for Litecoin specifically, already has customizations that suit the blockchain.

That number is halved every 840,000 blocks, which happens around every four years. To help you decide if Litecoin is right for your cryptocurrency portfolio or trading strategy, here’s a look at the history of Litecoin, how it works, and how to buy it. Litecoin is a cryptocurrency designed for instant transactions with near-zero cost. Mining with both GPU and CPU concurrently reveals just how much better GPUs are at mining than the CPU. Compare the hash rates shown in the terminal windows for each of your mining programs and you should see at least a five-times difference in hashing speed. Absolutely 100% it is a better investment to buy a couple litecoins than to mine them with a CPU. When you’re ready to stop mining, you can stop the miner by pressing Control-C (holding down the Control key and the “c” key on your keyboard at the same time). This will stop the miner.sh program, and your computer will stop mining Litecoin. ADVICE. Don’t forget to change your security settings back once you’re finished. Otherwise, you may leave your computer open to malicious software.

With Litecoin there exists a fixed supply of 84 million Litecoin units that will ever be created. As of July 2021, about 67 million of these have already been created and are currently circulating in the open market. The remaining supply of about 17 million units are still up for mining until around the year 2142. At that time, the supply limit will be reached and no more Litecoin will be issued by the protocol. This cost represents only the energy used to power the miner. ASICs produce a lot of heat while they run—to be most profitable, they need to run 24 hours a day. An ASIC will run up your cooling bill unless you can find a way to vent the heat outside your home. You’ll also need to choose a wallet to store your private keys in. You could use wallets like Exodus, Electrum, or Mycelium. While it can be mined on computers, to be competitive Litecoin requires several ASIC miners.

The protocol for GPU mining on litecoinpool.org is discouraged and may not work unless you heavily configure it. Through Litecoin Core, you are running your own full node on the Litecoin network. Although you can use any wallet’s receive address to mine, it might be good to use, if only to be directly part of the network. Plus, you would be directly downloading it from Charles Lee’s Foundation. For GPUs, it would be nice to have something at least as powerful as the RTX 2060 series and beyond or an AMD model of similar GPU power.

Litecoin appeared on the market in 2011 and was developed by Charlie Lee, an ex-Google employee. The cryptocurrency is built on the BTC protocol but uses a different hashing algorithm. At its core, Litecoin is based on the Proof-of-Work consensus algorithm and the Scrypt mining algorithm, while BTC uses SHA-256. Litecoin mining is very much analogous to bitcoin mining as the consensus mechanism of both these cryptocurrencies is the same. However, Litecoin operates on a different hashing algorithm as bitcoin https://www.beaxy.com/buy-sell/bsv-btc/ to improve the scalability. It takes an average of 45 days to mine an entire Litecoin with one of the most powerful hardware mining devices. When it comes to block size, the right setup will commit a block to the Litecoin blockchain in just 2.5 minutes. If you have the right setup (i.e. low electricity cost and a cool environment) it’s still profitable to mine Liteocin. Also, recently, LTC mining in the cloud has become in demand, when miners rent equipment on special platforms and receive passive income.

In yet another headline grab, Tesla also confirmed plans to accept bitcoin as a form of payment for its products in the near future which it told the SEC that it “may or may not liquidate upon receipt.” The Chicago Board Options Exchange reveals in an SEC filing that it is seeking approval to list and trade shares of what could be the first (and long-awaited) Bitcoin exchange-traded fund in the U.S. The U.S. government is reaching into its locker and getting rid of some of its takings, selling off Bitcoin worth $38,000. As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors. Bitcoin prices are going nuts in anticipation of Coinbase going public, shooting up 6.24% to a new high of over $63,000. Bitcoin Core contributor Pieter Wuille is the brains behind the Taproot upgrade, and he’s finally ready to get some other eyes on the code. Bitcoin’s difficulty dropped by 12.6% on May 1, the network’s largest downward correction of the year and the biggest negative difficulty adjustment in almost a decade. The taproot soft fork activation is the first phase for the full upgrade, which has been in the making for years and will make Bitcoin multi-signature transactions cheaper, easier to deploy, and more private. But not everyone is convinced, with some suspicious analysts suggesting that this could just be a ploy by Tesla to appease activist investors – or even a cynical move to further manipulate prices.

At the same time, its highly configurable nature allows users to tailor it to their growing requirements as their trading skill increases over time — up to writing their own custom technical indicators. Its basic version is free to use, and the availability of paper trading allows anyone to try it with no risk. TradingView – the leading trading network of over 30 million traders and investors offering the best charting tools and trading ideas to increase the earning potential of its users. So I figure that during a time of hyper inflationary currencies, it would be best to compare bitcoin to a basket of stocks. Even though it is going up in USD terms, we could argue everything is, including my bag of potatoes. About a week ago bitcoin suddenly started to drop and falling more and more unexpectedly While everyone was talking about 98K. Most of people are waiting to buy at 52 and lots of traders are selling bitcoin so they take profit at 52. When most of people thinking about an ultimate target…
After January’s 25% losses, Bitcoin went on to spend three months reaching unprecedented highs. The U.S. has overtaken China as the world’s biggest source of Bitcoin mining after Beijing’s ban on crypto two months ago kicked off the great mining migration. China used to be the biggest mining base in the world, but over May and July its share of the global hashrate – which basically means the amount of energy needed to mine the cryptocurrency – fell from 44% to zero. Another contender in the race is Kazakhstan, which has seen its share increase from 10% to 18% in that same period. Bitcoin bullish sentiment remains at fever-pitch, highlighted by NFT. Technical analysis gauges display real-time ratings for the selected timeframes. The summary for Bitcoin / U.S. dollar is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots. Before reading, get rid of your moonboy mentality and no emotions for dips/corrections! People are so focused on the hourly/daily timeframe that they get emotional on every dip!

Bitcoin Btc

Watch strong price action at the current levels for buy. General Pattern Failure occurs when a chart pattern breaks out, fails to hit target, quickly reverses then rejects off that same breakout level back inside the pattern continuing in the opposite direction of the breakout. Pictured above in the original chart is a normal breakout on a Inverse Head And Shoulders Pattern while the… A few days ago I made an analysis on Bitcoin and the bounce it was about to make. Since Bitcoin is still trading in this bearish channel, it’s likely that we’re going to see some kind of reversal in the next two days or so. With countries going into lock downs again, fear is back and… It is true that the bears have been shinning and Bitcoin took a timeout from any additional growth.

People were furious, and a whole bunch of lawsuits were launched against both Mt. Gox and against Karpeles himself, including from competing US-based exchange CoinLab, as well as hundreds of seriously pissed off clients. Wright struggled to convince the wider community though, and his claim is now widely disputed. Because basically, if you say you have the key to a Bitcoin wallet worth over $10bn, then eventually people are gonna expect you to be able to open that wallet. Hearn predicted a massive price crash for Bitcoin – which, coming from such a respected developer, had its own impact. Bitcoin lost over $60 from its value, falling from $429.55 on 14 January to $360 the next day. Bitcoin reaches a closing price of $467.42, its highest since September 2014, after a few weeks of relatively steady overall price performance, despite volatility in daytime trading.

Markets

The new generation was overseen by lead maintainer Wladimir van der Laan and was the product of seven months, 135 contributors, and well over 700 merged pull requests. Some of the biggest changes improved coin selection and let users create new wallets whenever they wanted. The price jumps after Chinese President Xi Jinping comes out in support of blockchain technology, saying he wants to invest further in cryptocurrencies. In fact, despite Buffet’s bearish stance on Bitcoin, there were rumblings that he could be about to change his tune. He famously shifted his position on gold in 2020, taking a stake in one of the world’s biggest gold miners. Since then, pundits including Max Keiser have predicted that he could do the same for Bitcoin, possibly with a panic buy if/when the price hits $50,000. On February 5, 2020 a group of crypto pioneers including Tron Founder and Bittorrent CEO Justin Sun treated the 90yo Berkshire Hathaway legend to a three-hour charity dinner at the Happy Hollow Club in Omaha, Nebraska. They presented him with a pair of Samsung Galaxy Fold Smartphones loaded with a bunch of cryptocurrencies – and during the meal, Sun sent Buffet his first ever Bitcoin. Looks like he owns some cryptocurrency now after all. Amazingly, however, Bitcoin traders got back into the game pretty quickly – by May, the price was back up to pre-pandemic levels, boosted by a massive Fed stimulus plan and 0% interest rates.

• The 10th edition of the Crypto Research Report in June 2020 was also super enthusiastic.
• We believe there is no doubt we have the legal right to host the Bitcoin white paper.
• The next day though, the Bitcoin Core Project got verified, so it all worked out.
• I am a BTC bull, but I see far too many overly optimistic price projections on tradingview.
• Bitcoin eclipsed its previous record from March on the back of the IPO expectation – and it wasn’t the only currency hopping around either.

Investing in crypto “doesn’t make sense” right now according to Twitter’s Ned Segal, who doesn’t see why you’d give up a stable investment for such a volatile market. Crypto is suffering as new strains of Covid send investors fleeing to the safety of conventional assets. Bitcoin climbed back above $58k on Monday after lifting 6.6% over the weekend, bringing big dogs like Etherum , Solana and Polkadot along for the ride. Canadian regulators have embraced the growing market, with seven asset managers offering 23 funds that have already brought in billions in investments. After months of waiting for approval on its Bitcoin ETF, Fidelity Investments heads North to get the job done. The family claimed Kleiman actually helped Wright invent Bitcoin, and wanted half Satoshi’s stash (worth $50bn), but a jury disagreed. Bitcoin has lost 19.18% over the past month, causing sadness and heartache across the land. Sure, but he also popularized electric vehicles, and all those cars are going to consume a lot of electricity. EVs will put such a strain on the electrical grid that countries will be struggling to meet electricity demands. Not financial advice Go up for liquid then dump If it fals it can go up in channel that has Do your risk its your money Do your research.

Rising geopolitical tensions could counter dollar selling. America’s mid-term elections mean Democrats will scramble to legislate. To find and use custom indicators, go to the Indicators button and then ‘Public Library’. Favourite candles and Heikin Ashi to switch between these charts more efficiently.Changing the chart type is more fluid and ensures that you always have the same toolbar options whenever you use the platform. To save you from sitting around all day staring at charts, there’s also an alert system on TradingView. For instance, if you had an account of $100,000 and you wanted to specify the risk of each trade to be 1%, the risk-reward tool will adjust the stop loss to ensure that you are only risking $1,000 on the trade. The drawing tool will tell you the percentage change, expected profit and risk-reward ratio.
Thanks to a boost from the DeFi movement, Ethereum surpasses Bitcoin as the network that settles the most value per day. It was all going great, with the price staying steady between $11,000 and $12,000 for the whole of August, and then on September 3 boom, a crash drops the rate right back down to a low of $9,987.86, ending the day at $10,160. Bitcoin miners have created more than 18.5 million BTC, totalling 88% of the 21 million limit. But it’s still going to take over a century to hit 100% due to the ongoing halvings, with full capacity expected in 2140. And PlanB is even more optimistic about the future. On December 31 he predicted that between now and the next halving the average Bitcoin price would sit at $288,000.
Crypto had a tough week last week on the back of the Evergrande near-crisis and fresh crackdowns out of China, sending Bitcoin down 8.55% for the week. However, despite that, the cryptocurrency market has now seen inflows for the sixth week in a row. Inflows last week came in at $95 million, adding to the $6 billion the market has seen this year, and Bitcoin was leading the pack with $50.2 million in inflows. If you look at the number of corporates mentioning crypto on their earnings calls, that’s gone from about 17 last year to about 147 in the most recent quarter. This isn’t just Bitcoin anymore, this is digital assets and it’s creating a whole ecosystem of new companies, new opportunities, and new applications. Bitcoin reclaimed the $60K in early Friday morning trading as investors became increasingly bullish on the approval of a Bitcoin Futures ETF this week. It won’t be surprising to see some profit taking come through around those levels as traders might look to sell the news.
Imagine their reaction if they’d known just how long the “deal or no deal” business would actually go on for. Though the price took a hit on June 21, it recovered on June 23 when the referendum took place, though not quite to the same highs it was riding earlier in the month. The second Bitcoin halving cuts another automatic 50%, but because of strong bullish sentiment in the run-up to the split, volatility stays low and the price recovers rapidly. Bitcoin and China feel like that couple that keeps breaking up, bad-mouthing the other, and then getting back together again.
The very same day, Bitcoin surpassed $1 again, hitting $1.05. Bitcoin version 0.4.0 is available, the main feature of which is wallet private key encryption. Bitcoin-Qt version 0.5.0 is released with bug fixes. Bitcoin-Qt version 0.6.0 becomes available, adding bug fixes, performance improvements, and new features.

We can see that no gaps were formed over the weekend and that price was rejected by the previous gap. The measure move of the previous ascending channel breakdown is 37.5k. There is an open gap at 34.5K that acts as an attractor. Yes, we currently have upward pressure brewing up in the short term group of time frames. However, we still have a LOT of work to do with the 3-Day, 4-Day and 5-Day.
BTCUSD is the ticker symbol for Bitcoin and the United States dollar exchange rate. BTCUSD is a cryptocurrency CFD because of the presence of Bitcoin as the base currency. Yet, the bears continued to have a strong grip on the market and pushed the asset south again. As of now, bitcoin trades around $46,000, having dipped below that line minutes ago. However, it couldn’t surpass that level and started to lose value gradually.

Btcusd Crypto Chart

As the largest cryptocurrency by far Bitcoin should be of great interest to currency traders. Read more about Ethereum exchange here. While the size of the digital currency’s market capitalization pales in comparison with that of any major or minor fiat currency, Bitcoin acceptance has been growing. As the acceptance of Bitcoin grows it becomes more commonplace as a currency, a store of value, and as a trading asset. This will only increase in the future, so by learning to trade BTC/USD now you are future-proofing your trading career. Plus cryptocurrencies like Bitcoin are one of the few markets available for trading on the weekend. TradingView is a free multi-platform charting service and social network for traders and investors. It allows its users to monitor the price charts of hundreds of various assets — including cryptocurrencies — and share and discuss their ideas about the markets.
It’s a big u-turn from the pro-BTC stance Tesla has taken over the past year, and the reversal isn’t unlikely to go down well with Bitcoin traders. Today I am announcing Bitcoin Pizza – a new national pizza brand that is launching in 10 cities. The first pizzas will be delivered this Saturday, which is the 11 year anniversary of the infamous bitcoin pizza transaction. In case you missed it, Bitcoin is still in freefall after ending the week down 25% on the back of global regulatory obstacles. Great weather, world class surfing beaches, beach front properties for sale. One of the few countries in the world with no property tax. No capital gains tax for #Bitcoin, since it will be a legal currency.
This panel also offers the option of backtesting trading strategies. The social aspect is integrated into the price charts. When you bring up a chart for any particular cryptocurrency or stock, you can see a news feed on TradingView, relevant to that asset, and public chat rooms designed for that asset’s community. The bearish crossover between Bitcoin’s 20-day and 200-day exponential moving averages hints at a drop toward the $40,000–$42,000 area. The complete Cheat Sheet can be used to give an indication of market timing. Green below the current price and red above will tend to keep trading in a narrow band, whereas green above the current price, or red below can produce a breakout where each new price level is confirmed by a new signal.

For example, you can follow all ideas for BTC-USD quoted by a particular exchange. Any time someone uses that exchange’s price to create an idea, you’ll get an alert in your Ideas Stream. This can be useful for gauging what other traders are thinking and to analyse sentiment. It’s well known that TradingView is a social charting platform where you can follow other trader’s ideas. But you can also follow all ideas for a particular trading pair. Some users may find the lack of direct trades and the need to work through a broker disadvantageous when it comes to the actual trading. That downside is somewhat offset by the platform’s cross-platform availability and a vast selection of assets and tools. Another leg lower would also push Bitcoin’s daily relative strength index into its oversold territory below 30, a buying signal. For now, the momentum indicator has been attempting to break above its downward sloping trendline, a move that has earlier predicted Bitcoin’s local price bottoms. In this tutorial, I show you the basics of changing your chart’s color theme, including how to save and recall it.

Bitcoin’s getting more popular, and as it does, more people are trying to make a quick buck. In August 2012 a massive ponzi scheme crashes and burns, making headlines around the world. Run by chatroom pundit Trendon T. Shavers (known as Pirateat40 – what is it with crypto-criminals and pirates?) the Bitcoin Savings and Trust scheme is the biggest Bitcoin fraud to date. The Bitcoin Foundation launches with the main aim of promoting the uptake of the new currency. Prices don’t move much on the day, but it’s a big step. It kickstarted a massive run on demand which boosted the price from $12.07 on November 27, 2012 to over $1,012 a year later – a return of more than 8,000%. Halvings are supposed to happen once every 210,000 blocks up to a maximum of 21 million Bitcoins and a reward of $0 – expected to happen around 2140.
The 2-Day and 12-hour may close with the Green going UP and the Red RSI making contact with the Green while going up; indicating upward pressure. Around a week ago I made a post where I discussed how one can easily define whether crypto is bullish or bearish. As you can see on the chart, Bitcoin is still bearish. As long as we’re below the dotted line, I’m very… On the other hand, any regulation that will cause friction with the idea of decentralisation and blockchain will see investors express pessimism in the value of BTCUSD. This has partly been observed when Bitcoin retraced during the start of 2021. In addition to other fundamentals, the 2020 BTCUSD rally, as well as the subsequent 2021 pullback, can also be attributed to the positive/negative media coverage that the cryptocurrency scene has experienced with regards to regulation.

Wright went on to backpedal only a few days later, saying he was sorry but in fact could not provide proof of who he was. Having started the month at $448.43, May closed at $531.84, and June only got better. The price spikes by around 5% in a single day – ironic really, because Trump is notoriously not a fan of Bitcoin. The decision caused prices to plunge dramatically in minutes, from a high of $1,350 to a low of $975, a whopping -28% swing, before closing the day over -6% down at $1,116.97. The hard fork basically doubled Bitcoin holdings (so if you held 10 Bitcoins on July 31, by August 1 you’d hold 1 Bitcoin and 1 Bitcoin cash). The new currency began trading at about $240 (compared to $2,731 for its older sister). SegWit optimized the blocks through a software upgrade. But another group of developers wanted the blocks to be even bigger , so they spun off into a whole new cryptocurrency called Bitcoin Cash .

It’s pretty close to what legendary Bitcoin Pundit PlanB predicted all along (though slightly short of the $31,000 he thought it might reach by December 2020). However, it showed that the Stock-to-Flow model he uses is scarily accurate a lot of the time. The bull run hasn’t stopped, and Bitcoin bowls into a record-breaking new year by smashing through the $30,000 barrier on January 2 and breaking $40,000 just five days later, before hitting a high of $42,000 on January 8. It wasn’t just the #Bitcoin hashtag that hiked the price though. Elon also tweeted a meme of a dog on a magazine cover, apparently in support of the joke cryptocurrency Dogecoin, which sent that currency flying also. It’s been a funny old week for Dogecoin, which soared by over 60% after a reddit subgroup called SatoshiStreetBets jumped on the bandwagon to try and bump up the price in the same way WallStreetBets had done for Gamestop . It’s interesting that they are selling it now, betting that the price will go down, that it was just a bubble.