YoBitcoin
  • Cryptocurrency
    • Cryptocurrency News
    • Cryptocurrency Exchanges
  • Bitcoin & Co
  • Yobit
No Result
View All Result
  • Cryptocurrency
    • Cryptocurrency News
    • Cryptocurrency Exchanges
  • Bitcoin & Co
  • Yobit
No Result
View All Result
YoBitcoin
No Result
View All Result
Home Cryptocurrency News

Bitcoin and major altcoins are dormant after volatile week

Timo by Timo
May 23, 2020
in Cryptocurrency News
0
Bitcoin and major altcoins are dormant after volatile week
89
SHARES
471
VIEWS
Share on FacebookShare on Twitter


  • Bitcoin’s transaction fees are the highest in more than two years.
  • The first digital coin needs to regain ground above $9,300.
  • Altcoins are range-bound after a volatile week.

Transaction fees and mining difficulty on the rise

Bitcoin transaction fees reached on average $6.62, which is the highest level since February 2018. Moreover about 90MB of data are waiting for confirmation. Experts note that the rising fees are indicative of growing demand within Bitcoin’s network. 

Apart from that, the growing fees can be partially explained by the decreasing hash rate. It has plunged from 120 to 95 petahashes after Bitcoin’s halving. It is the deepest decline, and it means that it is more difficult to find blocks than usual. Consequently, the network capacity is decreasing, which leads to the overload and pushes fees higher.  

Top-3 cryptocurrencies price updates

Bitcoin (BTC) has recovered from the intraday low of $9,088, however, the bulls faced a brick wall on the approach to $9,300. This barrier stopped the upside momentum and pushed the price towards #9,160 by press time. The first digital coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Saturday.

Ethereum attempted to recover above $210.00 on Sunday, but quickly retreated to $206.50 by the time of writing. The second-largest digital asset needs to regain ground at least to $215.00 (the upper boundary of the recent consolidation channel) to improve the technical picture and allow for a sustainable move towards $220.00.

XRP/USD is locked in a range below $0.2000. The coin hit the intraday high at $0.2030 before fresh buying interest pushed it below the critical level. 



Source link

Previous Post

Tezos Staking Reaches A New ATH at Over 80%; Top 5 Exchanges Holding 18% of XTZ Supply

Next Post

What to Know About Billions’ Cryptocurrency Drama

Next Post
What to Know About Billions’ Cryptocurrency Drama

What to Know About Billions’ Cryptocurrency Drama

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Report: N. Korean hacking group increasing efforts to steal cryptocurrency

Report: N. Korean hacking group increasing efforts to steal cryptocurrency

May 12, 2020
Liquid.com Bolsters Security for Cryptocurrency Exchange with Sumo Logic

Liquid.com Bolsters Security for Cryptocurrency Exchange with Sumo Logic

May 12, 2020
Bitcoin: Don’t Panic, It Is Just A Short-Term Retracement (Cryptocurrency:BTC-USD)

Bitcoin: Don’t Panic, It Is Just A Short-Term Retracement (Cryptocurrency:BTC-USD)

November 27, 2020
Nexo Introduces In-app Cryptocurrency Exchange Service

Nexo Introduces In-app Cryptocurrency Exchange Service

February 1, 2021
House edge: UK Gambling Commission issues another fine over money laundering failures

House edge: UK Gambling Commission issues another fine over money laundering failures

March 18, 2021
A new form of token sale is gaining popularity, Ethereum could benefit

A new form of token sale is gaining popularity, Ethereum could benefit

June 9, 2020
Changelly Welcomes Coinify to Strengthen its Fiat-to-Crypto Solution

Changelly Welcomes Coinify to Strengthen its Fiat-to-Crypto Solution

May 12, 2020

Layer1 Launches Bitcoin Batteries to Stabilize Energy Grids by Releasing Electricity to Meet Market Demand

May 22, 2020

Trust No Dapp: Chainlink Launches Oracle for Provable Randomness

May 12, 2020

Demand for Dogecoin surges in 2021.

February 18, 2021

The attempted come back of CoinEx, China’s forked-Bitcoin exchange

May 26, 2020

Why crypto experts are expecting a second explosion in value

May 12, 2020

XRP reacts differently than Bitcoin to regulatory news

May 12, 2020

Bitcoin boom or bust: Is cryptocurrency changing the world? | UK News

March 18, 2021

Exclusive: Interview with HEX (HEX) Founder, Richard Heart

November 21, 2020

Burned Banksy NFT Sets Art And Crypto Worlds Alight

March 4, 2021

How to buy Cryptocurrency?

If you want to start investing in Bitcoin and cryptocurrencies in 2020, you will first be faced with the big question: Where do I buy Bitcoin? First of all, it is important to distinguish between crypto exchanges and crypto brokers. Both are trading platforms where you can invest in cryptocurrencies.

Recent News

House edge: UK Gambling Commission issues another fine over money laundering failures

House edge: UK Gambling Commission issues another fine over money laundering failures

March 18, 2021
Dogecoin could eventually hit $1

Dogecoin could eventually hit $1

March 18, 2021

Categories

  • Bitcoin & Co
  • Cryptocurrency
  • Cryptocurrency Exchanges
  • Cryptocurrency News
  • Yobit
No Result
View All Result

No Result
View All Result
  • Home