Bitcoin Weekly (4/11/2022)

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2 years ago
In community: Cryptocurrency and Blockchain(7b7f)
Topics: Bitcoin, Crypto, Cryptocurrency, Mining

Welcome to the second edition of Bitcoin Weekly, here we will get you up-to-date on everything Bitcoin (BTC).  Last week the "king of crypto" was in the news a lot with the Bitcoin Conference taking place in Miami April 6-9 with over 20,000 in attendance.

Bitcoin fell below the important $40K mark today and had not closed below this level since March 16th.  The decline came after the ten-year Treasury yield hit 2.77%, a three-year high.  Bitcoin and other assets labeled as "risky" tend to fall when yields rise.  Investors also a factoring in the potential for more monetary tightening by the Federal Reserve.  The FED's minutes (summary) from their March meeting indicates an even more hawkish stance so expect for interest rates to rise and hurt markets across the board.

It also appears that the market is reacting to the fact that Terraform Labs, the company behind Lunda and the Terra stablecoin TerraUSD (UST), purchased around $175 million worth of bitcoin over the weekend and that the buying is now largely over.  Tesla recently reversed its stance on accepting bitcoin for payments.  In China, the country ordered mining in the Sichuan province to shut down and also told banks to stop supporting crypto transactions continuing their growing list of restrictions on digital currencies.

Bitcoin is once again in negative territory for 2022 and continues its bearish movement since peaking last November.  BTC's correlation to the NASDAQ 100 hit a record high as both continue to move in the same direction to major news.

Bitcoin Price Statistics (as of 4/11/2022, 4:00pm EST)

  • Bitcoin Price = $39,988

  • Last Week = $45,925

  • Weekly High = $46,901

  • Weekly Low = $39,934

  • Market Cap = $782,593,056,069

  • Market Cap Dominance = 39.50%

  • All-Time High = $69,044.77 on November 10, 2021

statistics provided by CoinGecko

Ten Must-Read Bitcoin Articles

Bitcoin Fun Fact of the Week

Satoshi Nakamoto registered his/her/their birthday as April 5, 1975, on the P2P Foundation. This is the platform where he/she/they first mentioned the conceptualization of the Bitcoin blockchain.  If this happens to be true, Satoshi turned 47 last week - Happy Belated Birthday!

Bitcoin Mining Statistics

  • Miners = 6,152,072

  • Hashrate = 222.72 EH/s

  • Difficulty = 28.59T

  • Emission (24hr) = 831.3 BTC

  • Circulating Supply = 19.01M (90.5%)

statistics provided by MiningPoolStats

Crypto Greed & Fear Index

index provided by Alternative

Where to Buy and HODL Bitcoin (Referral Links)

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

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Avatar for CryptoMasterMiner
Written by
2 years ago
In community: Cryptocurrency and Blockchain(7b7f)
Topics: Bitcoin, Crypto, Cryptocurrency, Mining

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