Bitcoin News Live: February 19, 2023
Bitcoin Price Today
Bitcoin (BTC) is currently trading at $24,805, up 1.5% in the last 24 hours. The market cap is $481 billion, with a dominance of 42.4%.
Top Stories
* Bitcoin Miners Capitulate as Hash Rate Dips: The hash rate of the Bitcoin network has dropped by 10% in the past week, indicating that miners are selling off their BTC due to low profitability.
* Binance Halts Bank Transfers in Europe: Binance, the world’s largest cryptocurrency exchange, has suspended bank transfers in Europe due to regulatory pressure.
* SEC Charges Terraform Labs and Do Kwon with Fraud: The US Securities and Exchange Commission (SEC) has filed charges against Terraform Labs and its co-founder Do Kwon for orchestrating a multi-billion dollar fraud.
* Bitcoin Ordinals Gain Popularity: Ordinals, a technology that allows users to inscribe data on satoshis (the smallest unit of Bitcoin), has gained popularity in recent weeks.
* El Salvador’s Bitcoin Experiment Faces Cash Shortages: El Salvador’s Bitcoin adoption experiment has been met with challenges, including a shortage of cash ATMs.
Market Analysis
BTC is currently facing resistance at $25,000, but analysts believe it could continue its upward trend in the coming days. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are both pointing to a bullish momentum.
Expert Opinions
* Dan Held, Kraken’s Head of Growth: “Bitcoin is in a bull market and we are likely to see it reach $100,000 this year.”
* Willy Woo, On-chain Analyst: “The Bitcoin market is in a state of accumulation and we could see a breakout soon.”
* Larry Cermak, The Block: “Binance’s suspension of bank transfers in Europe is a setback for the cryptocurrency industry.”
Upcoming Events
* February 21: Bitcoin Core developer meeting
* February 23: Bitcoin Improvement Proposals (BIP) meeting
Additional News
* MicroStrategy Buys 2,500 BTC: MicroStrategy, the software company led by Michael Saylor, has purchased 2,500 BTC, bringing its total holdings to 132,500 BTC.
* Elon Musk Teases Dogecoin Integration on Twitter: Elon Musk, the CEO of Tesla and Twitter, has hinted that he may integrate Dogecoin into the social media platform.
* Chinese Crypto Ban Lifted: China has reportedly lifted its ban on cryptocurrency mining and trading in select regions.
Stay tuned for the latest Bitcoin news live updates throughout the day.
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