El Salvador, the first country to mine Bitcoin using volcanoes

El Salvador, the first country to make bitcoin legal tender, has officially mined the first bitcoin using volcanic energy. This was revealed when President Nayib Bukele shared a screenshot of a mined bitcoin on Twitter.  We’re still testing and installing, but this is officially the fist Bitcoin mining from the volcanode – tweeted Bukele.  Almost 22% of the country’s power market is geothermal. Following the approval by El Salvador’s congress, the Bitcoin price surged to $48,000 earlier today. This surge in prices was seen after $241 million in Bitcoin shorts…

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Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish

Bitcoin seems to have recaptured the 50-day moving average as support Bitcoin is now firmly above the $34k price area, trading at the $34,720 at the time of writing Bitcoin’s weekly close tonight will provide more information as to whether its bullish trajectory can be sustained Twitter sentiment surrounding Bitcoin has returned to bullish territory and could have entered a slight FOMO phase Bitcoin (BTC) has continued on its bullish climb for a fifth straight day after the local low of $29,278 set on Tuesday, July 20th. The King of…

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Bitcoin Supply On Crypto Exchanges Begins to Drop as BTC Reclaims $33k

Bitcoin supply on crypto exchanges has once again started to drop, almost equaling January lows Bitcoin outflows from exchanges have exceeded inflows by 2,333 BTC in the last 7 days Elon Musk and ‘The ₿ Word’ Bitcoin conference is one reason BTC is bullish once again Jack Dorsey stating that Bitcoin will be a big part of Twitter’s future, is another fundamental reason why Bitcoin is above $33k Bitcoin supply on crypto exchanges has once again started to decline and is on a path towards equaling low levels last witnessed…

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Tesla Will Most Likely Resume Accepting Bitcoin (BTC) – Elon Musk

Elon Musk has stated that Tesla will most likely resume accepting Bitcoin for car payments He pointed out that Bitcoin mining had shifted more towards renewables as China clamped down on coal-powered BTC mining within its borders Mr. Musk made the comments during ‘The ₿ Word’ virtual conference that was attended by Cathie Wood, Jack Dorsey, Elon Musk and moderated by Steve Lee Bitcoin is once again trading above $32k and could be due to the statements by Elon Musk The Founder of Space X and CEO of Tesla, Elon…

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Bitcoin’s Address Growth Plateaus as BTC loses $30k Support

The growth of Bitcoin addresses has hit a plateau phase Bitcoin’s daily active addresses have also dropped from April’s peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door to more losses to $23k or even $24k The growth of addresses on the Bitcoin network has plateaued. This milestone was identified by Bitcoin and Crypto analyst,…

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