Bitcoin Approaches 2.0 Level – Get Ready for a Record Win!

• Bitcoin difficulty per issuance is a proof-of-work (PoW) pricing model based on the mining difficulty and coin issuance.
• The model takes into consideration the hashrate of the network and adjusts the difficulty to keep production levels constant.
• An analyst has pointed out that BTC is almost double the cost of production now, with three levels in the difficulty per issuance model – 1.41, lower bound and upper bound.

What is Bitcoin Difficulty Per Issuance Model?

Bitcoin difficulty per issuance is a proof-of-work (PoW) pricing model used to estimate production costs for miners. This model takes into account two metrics: mining difficulty and coin issuance. The mining difficulty sets the computing power needed for miners to mint new coins and add blocks on the chain; it fluctuates depending on the hashrate of the network (which measures total computing power connected to blockchain). In order to maintain supply production at a constant value, Bitcoin’s network adjusts this difficulty as required. By dividing this difficulty by total number of newly issued coins, we can calculate how much one single BTC costs in terms of production expenses.

Analysis On Bitcoin Price

An analyst recently pointed out that BTC price is now almost double its cost of production according to this PoW pricing model. There are three essential levels within this model: 1.41 which represents an average cost of production; a lower bound; and an upper bound estimation for production expenses associated with one single unit of BTC. Since entering this cycle, BTC has not touched its estimated lower bound yet.

Difficulty Per Issuance Model 2.0 Level

The following chart displays these important levels more clearly:

The three difficulty per issuance pricing levels | Source: @paulewaulpaul on Twitter

As shown in graph above, Bitcoin was once under Difficulty Per Issuance 1.41 level (the middle line). This level provides us with an approximate cost that miners spend when producing new coins while bottom line gives a lower limit estimation and top line gives higher limit estimation regarding same matter – what it costs to produce one single unit of BTC?

BitStarz Player Lands $2,459,124 Record Win! Could You Be Next Big Winner?

A recent event involving BitStarz player winning $2,459,124 record shows that anyone can be next big winner if they play their cards right! Many other users have also registered sharp jump in open interest which further indicates volatility ahead in near future!

Conclusion
To conclude, Bitcoin Difficulty Per Issuance Model is a powerful tool which helps us understand more about what it really costs to produce each unit of cryptocurrency like Bitcoin! With current price being almost double than actual cost suggests interesting times ahead for crypto enthusiasts all over world!

Dogecoin Still Dominant Despite Lackluster Growth – Tesla Exclusive Payment Option

• Dogecoin (DOGE) has seen only 5.56% price growth in the past week according to CoinMarketCap compared to other altcoins.
• Despite this, DOGE still remains a dominant force in the memecoin market and is currently the most popular choice for investors.
• Tesla has not bought or sold any Bitcoin for two consecutive quarters but still only accepts DOGE as a payment option which gives the token some real life utility.

Dogecoin, the original memecoin of the crypto industry, has been around for a long time and is still a popular choice for investors. According to CoinMarketCap, DOGE has seen 5.56% price growth in the past week and has a current market cap of $11.3 billion, surpassing other altcoins in terms of growth. Though other memecoins such as Shiba Inu are disrupting DOGE’s dominance, it still has a long way to go before it can catch up to Dogecoin.

Despite Dogecoin’s relative lack of growth, it still has a number of external developments that favor it. For example, Tesla has not bought or sold Bitcoin for two consecutive quarters, yet still only accepts DOGE as a payment option, which gives the token some real life utility. This has helped to keep Dogecoin popular in the crypto industry.

In terms of development, Dogecoin has been relatively quiet in the past year. The only notable spike in activity was the October 2022 upgrade of the token’s wallet. Despite this, Dogecoin still remains a dominant force in the memecoin market, with many investors choosing it over other altcoins.

Overall, Dogecoin is still an important part of the crypto industry. Despite the lack of monumental growth, it still has a number of external developments that favor it, such as Tesla’s exclusive acceptance of DOGE as a payment option. In addition, Dogecoin remains a dominant force in the memecoin market and is still a popular choice for investors.

Bitcoin Overheats: RSI Reaches Highest Level Ever, Bull Run Ahead?

• Bitcoin price is showing signs of getting overheated on daily timeframes using the Relative Strength Index (RSI).
• The tool, typically used to spot overbought conditions, is at one of its highest levels ever historically.
• Bears have good reason to expect a pullback, but bulls could be ready to push prices higher.

Bitcoin is showing signs of an overheated market, as the Relative Strength Index (RSI) is at one of its highest levels ever historically. The RSI is a tool typically used to spot overbought conditions, and Bitcoin’s RSI reading is currently at 90 or above. This is the highest level it has reached in the bear market, and could be a sign that the bulls are ready to push prices higher.

After reaching an all-time high of $20,000, the crypto community is wondering whether or not a bottom has been reached. Bears are understandably skeptical, considering the current economic climate and the Federal Reserve’s decision to raise interest rates. However, crypto bulls can take heart in the fact that the RSI has only ever reached such an elevated level in the midst of the most intense bullish movements of recent years.

It is important to note that an RSI reading of 90 or above isn’t necessarily a guarantee of further price increases. History has shown that it is possible for the market to remain at such a high level for extended periods of time, only to plunge shortly after. For this reason, it is important for investors to be aware of the risks associated with investing in Bitcoin.

Despite the risks, the current RSI reading could indicate that the bulls are ready to drive Bitcoin prices higher. If this is the case, it could signal a resurgence of investor confidence in the cryptocurrency market, as investors take advantage of the potential for future gains.

Ultimately, only time will tell if Bitcoin’s current RSI reading is a sign of a bull market or an impending price crash. For now, investors should remain vigilant and be aware of the risks that come with investing in the volatile cryptocurrency market.

Ethereum Surges Above $1,300, More Gains Ahead?

• Ethereum extended its increase above the $1,300 resistance zone against the US Dollar.
• The price is now trading above $1,300 and the 100 hourly simple moving average.
• Ethereum price started a decent increase above the $1,280 level with a potential of more gains.

The cryptocurrency market has been on a roll recently, with Ethereum (ETH) leading the charge. The second-largest cryptocurrency by market cap has extended its increase above the $1,300 resistance zone against the US Dollar.

The bulls have been in charge on the ETH/USD chart and have pushed the price above several key resistance levels. Ethereum is now trading above $1,300 and the 100 hourly simple moving average.

The upside move was supported by a major bullish trend line forming with support near $1,292 on the hourly chart of the ETH/USD pair. Ethereum climbed above the $1,280 and $1,300 resistance levels. The price even broke the $1,320 zone and traded to a new yearly high at $1,343.

However, the buyers failed to gain strength above the $1,350 resistance zone and a minor correction took place. ETH price broke the $1,325 and $1,320 levels. It is now trading below the 23.6% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high.

On the downside, the first key support is near the $1,280 level. It is close to the 50% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. If there is a downside break below the $1,280 support, the price could revisit the $1,200 support level.

On the upside, the $1,320 level is a short-term resistance. If there is an upside break above the $1,320, the price could surge towards the $1,350 resistance. A clear break above the $1,350 resistance could open the doors for a larger increase in the coming sessions.

Overall, Ethereum is showing a lot of positive signs above the $1,300 level. If ETH stays above the $1,280 support zone, it could rise further in the near term towards the $1,350 resistance.

Crypto Holiday Special: Binance CFO Wei Zhou on Bitcoin’s Future and Fundamentals

• NewsBTC launched a Crypto Holiday Special to provide perspective on the crypto industry and to look into the past, present, and future of the industry.
• Wei Zhou, former CFO at Binance, was interviewed and discussed the biggest moment of 2022 and the fundamentals that will keep crypto alive.
• He believes that Bitcoin, just like the Internet, will survive any storm that comes its way.

As the year 2022 comes to a close, NewsBTC decided to launch a Crypto Holiday Special to provide a retrospective of the crypto industry. This special will look into the past, present, and future of crypto and provide a more in-depth look into the industry. To this end, NewsBTC has reached out to multiple guests to understand the highs and lows of the industry over the past year.

In the spirit of Charles Dicken’s classic, “A Christmas Carol,” we will explore different perspectives of the industry in order to understand how it might support the future of finances. One of the figures we interviewed was Wei Zhou, the Chief Financial Officer of the largest crypto exchange in the world, Binance. During his three-year tenure at Binance, Zhou has seen the industry go through many changes and believes that the days of commingling users and the exchange’s assets are long gone.

When asked about the most significant difference for the crypto market from Christmas 2021, Zhou noted that Bitcoin, just like the Internet, will survive any storm that comes its way and that he has no inkling of doubt about that. He also discussed the biggest moment of 2022 from his unique perspective and the fundamentals that will keep crypto alive and on track to fulfill its destiny.

Overall, Zhou believes that the crypto industry is in a better place than it was a year ago and that the future is bright for the industry. He believes that the industry will continue to grow and that exchanges will need to evolve in order to keep up with the changing landscape. He also noted that crypto will continue to be a key driver of innovation and that it will likely be a key factor in the future of finance.

We thank Wei Zhou for his insight and look forward to seeing how the industry continues to evolve in the coming years. As we look back on the past year, we can only hope that the industry will continue to make positive strides in the future.

Whales Selling Bitcoin: Prices Could Remain Sideways or Lower

• The activity of whales in the bitcoin market has been analyzed in depth by Santiment, showing that large holders have reduced their holdings from almost 8 million BTC in December 2021 to less than 7 million BTC in December 2022.
• This selling trend from large investors could lead to sideways or even lower prices for BTC in the next 6-12 months.
• The analysis of whale addresses suggests that the bottom of the market may not be reached yet.

The activity of whales in the bitcoin market has become an increasingly important factor to consider when it comes to predicting the future direction of the digital asset. A recent report by Santiment, which analyzes the activity of large holders, has revealed that these whales have been selling their holdings in recent months, which could lead to further sideways or even lower prices for BTC in the next 6-12 months.

The report looks at the balances of large holders, which are classified as those who hold between 1,000 and 10,000 BTC. According to the analysis, these whales have reduced their holdings from almost 8 million BTC back in December 2021 to less than 7 million BTC in December 2022. This shows that they are still actively selling, and this trend could continue into the 2023, resulting in the digital asset starting the year with prices below $16,000.

The analysis of whale addresses also suggests that the bottom of the market may not be reached yet. This means that investors should pay close attention to the activity of these large investors, as their buying or selling could be an indication of the direction the market is headed. If these whales start accumulating, it could lead to a rally, and vice versa.

Overall, the activity of whales in the bitcoin market is an important factor to consider when predicting the future price of the digital asset. The fact that these large holders are still selling suggests that prices could remain sideways or even lower in the coming months, and investors should watch this activity closely.