The elusive mythical bull and the hunt for a new ATH! This past week was exciting and turned out to be in a rally that is fun to watch and scrap some healthy profits! Depending on what price you got in – $275 bottom, $316 bottom, $333 level, $366 range $380 – there was a ton of chance to earn a fortune ☺
All the while, the strong Bull Run this week was widely expected, even here on our weekly Bitcoin price analysis.
You must have heard about Bitcoin mining. Bitcoin miners use special software and hardware to solve Bitcoin-related mathematical problems and as a result get Bitcoins.
Due to constant difficulty increase and more people involved, Bitcoin mining has significantly developed since the creation of this cryptocurrency.Currently, several methods of Bitcoin mining, including hardware mining, software mining, and cloud mining, are available on the crypto-market. On the way to Bitcoin’s success, developers and other IT specialists have managed to overcome numerous obstacles and win some very important battles.
Although trading is not easy, it’s not usually a run of bad trades that leads to a trader having a losing portfolio on a yearly basis. Making the right picks in the market is a key aspect to turning a profit over the long term, but proper money management is also a big part of the game. If you’re not able to manage your cash correctly, you could end up with one mistake costing you an entire year of progress.
If you’ve recently received your first bitcoins, then you’re probably wondering what you can do with this new form of digital money. While you may think that there are limits on what you can expect to purchase with your bitcoins, the reality is that you can basically use your newly acquired cryptocurrency in the same way as normal fiat currency. In fact, there are many things you can do with bitcoin that you simply cannot do with regular government-issued currency.
As any day trader will tell you, whether you’re trading stocks or cryptocurrencies, there is risk involved. Meticulous management of this risk is how day traders are able to profit on a consistent basis, and while all traders have their own preferred strategies for trading and managing risks, there are a few basics that should always be kept in mind.
1. The first and most important thing to remember is that in order for someone to win, someone else has to lose, and for this reason one should never invest more than they can afford to lose.
Bitcoin safety is considered to be one of the most urgent and highly discussed topics within the Bitcoin community. Any Bitcoin owner should know how to keep the digital funds safe, similar to the way we keep our regular wallets protected from pickpockets and thieves. There are some tips/precautions that one can take in order not to lose Bitcoins.
1. Store only small amounts of Bitcoin in your wallet
Whether you keep your funds in a digital or a physical wallet, you should make sure that you do not have all your savings in one place.
There never seems to be a dull week in the world of bitcoin mining. Over the past few weeks, we’ve seen a preview of our cyberpunk future in the form of a bitcoin mining meltdown, Gavin Andresen gives his thoughts on bitcoin mining centralization and a new piece of disruptive mining hardware from two brothers. Let’s take a closer look at the three biggest stories in bitcoin mining right now.
Fire Takes Out Bitcoin Mining Facility
In one of the most bizarre bitcoin stories in general over the past year, a massive fire has reportedly taken out millions of dollars worth of mining hardware in Thailand.
When you look at a chart you may see certain patterns emerge (or at least appear to emerge) and sometimes these patterns can indicate the potential direction of future pricing for the market you are looking at. In essence this is a part of technical analysis. Technical analysis “is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends.
” Technical analysis is a huge subject area and sometimes it can be a mix of mathematics / statistics and ‘art.’ It is also important to remember that technical analysis and chart patterns can be applied to any marketplace from stocks to indexes to crypto-currencies.
The announcement of Bitcoin’s sidechaining feature that will likely soon be active is very good news for Bitcoin, but it might be even better news for altcoins.
Sidechains will likely be just the first of many useful additions to Bitcoin and clearly demonstrates it’s programmability, allowing it to be modified without disrupting the network. Since any cryptocurrency can be a Bitcoin sidechain I would expect to see several current and future altcoins operating as Bitcoin sidechains.