Cryptosya

February 23 Cryptocurrency market gave signs of recovery again today, after the fall from France yesterday. Bitcoin, which sagged below $ 10,000, is back to $ 10,400 again.

During the day, the cryptocurrency market increased its market value by about 1.3%. The market, today valued at $462.7 billion, is perfectly positioned to challenge the $500 billion threshold over the weekend.

February 23 Cryptocurrency market

BTC / USD

With a small upside jump, Bitcoin price has risen again above the psychological threshold of $10,000, below which it fell on Thursday. Currently, Bitcoin is up 1.4% at $10,199 daily on Bitfinex, up 6% from the $9,583 it tested yesterday.. Bitcoin currently has a market cap of $174.1 billion, with a total market share of around 38.5%.

The service is currently only available to a limited number of users in five US states, but the company plans to expand it rapidly in the coming months. Bitcoin and Ethereum are expected to rise as Robinhood’s 4 million registered users will soon have the ability to trade Bitcoin and Ethereum.

ETH / USD

Bitcoin is a psychologically important Although he managed to get back to the psychological point, he could not move further. Ethereum price rallied as high as $867 on Bitfinex, capturing a 6% rally. Ethereum’s market cap is currently at $85.5 billion and its market share is just under 20%.

Altcoins

Altcoins provided a bumpy chart .

Ripple price and Bitcoin Cash prices are up 2% and are currently trading at $0.95 and $1,272. Meanwhile, Litecoin and Cardano followed a stable course at their previous day’s levels.

EOS is the 2nd highest rising among Top 10 coins after Ethereum with 4% rise.. coin became. NEO is up 1%. Stellar fell 1% to $0.36 and IOTA rose 2% to $1.75.

CCN

Bank of China, one of the country’s four largest public commercial banks, has applied for a patent where it can better scale Blockchain systems.

Bank of China submitted its Blockchain patent last year

February 23′ The application was originally submitted on September 28, 2017 and was discovered by Zhao Shuxiang, according to a document released by China’s State Intellectual Property Office (SIPO) in ta.

The application allows a new block to record transactions from a previous transaction. instead of allowing it, it puts transactions of multiple blocks into what it calls a “data block”. A data compression system is used for this.

When the system receives a request to compress transactions from block 1 to 1,000, it creates a new data block. And it causes them to be temporarily hosted on a different storage system.

The system then runs the packed data with a hash.

Also provides improvements in the amount of data

Also, the compression system identifies tags to identify blocks in the Blockchain, newly created data blocks, and compression event. The relationship between the three tags is also recorded with the Blockchain.

Using this method, the patent ensures that data from all previous transactions is still tamper-proof and traceable. It is also claimed that there is a reduction in the amount of data in new blocks as transactions are mounted within a blockchain.

Note that the patent is currently under review.

Coindesk

Zaif had a serious crisis due to the attack he suffered right after the cyber-attack in the past months and started to research how to recover the stolen crypto money worth 60 million dollars due to this crisis. Despite all the legal investigations, the person or persons who committed theft could not be found, only the loss of the cryptocurrency exchange was high. In the statement made by the Japanese security units, it was confirmed that Zaif had been hacked.

Zaif was the target of European cyber-attackers

The latest statement about Zaif was that he was attacked by a European-based attack and the scale of this attack was extremely high. It turned out that the reason why it was bad was due to long-lasting cyber attacks. It was stated that while the security companies working on Monero could not reach the result despite all the efforts, it was stated that in the near future, it would be possible to reveal who stole cryptocurrencies for the first time in the near future. The fact that there is no information about the cyber-attack from which European country is arousing curiosity. While Zaif manages this process badly, the security units add speed to their work.

Bitcoin miners, who have been keeping the world agenda busy lately, have gripped the Southeastern Anatolia Region.. Receiving the notice that Bitcoin was produced in the region, the teams made transactions to houses that use electricity almost as much as a factory.. Those who need intense electricity and equipped computers for production set their eyes on the Southeastern Anatolia Region, where illegal electricity is common.. Here, Bitcoiners, who are called “miners”, who carry out transactions especially in rural areas, started to produce Bitcoin by consuming the electricity consumed by almost a factory. tightened up. DEDAŞ Field Management Director Hasan Miroğlu stated that they did not ignore the notifications made on Bitcoin and said: “What kind of a factory is a production source for us? However, this Bitcoin uses systems that draw that much energy.. For this reason, we especially control our systems where large transformers are directly connected.. Such reports have started to come in intense, lately, we are intervening in them in the same way as we are doing our other struggles about it.. We treat those who come as a report about Bitcoin, but there is something like this, we do not have the authority and opportunity to go inside and see what people are producing, we do not know what is being done inside.. But whatever the places with such a big electricity draw, we treat the reports like this the same way we treat others.. There is a possibility that these may occur in places where we have detected such sudden changes in the countryside.. There are such sudden increases in traction in the countryside, where we least expect it, and we intervene in them in the same way.”

Source: Hürriyet

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Recently, countries stepped up their tax work for Bitcoin and other cryptocurrencies. As we reported today, the studies in Thailand, one of these countries, came to a conclusion and it was decided to charge 7 percent VAT and 15 percent capital gains tax from Bitcoin.

South Korean news outlet Fuji News Network reported that the country’s Ministry of Strategy and Finance will issue a tax legislation for cryptocurrencies by the end of June. It was noted that it will be in effect from next year.

The announcement of the tax plan for Bitcoin and other cryptocurrencies in South Korea is also noteworthy, following the G20 meeting held in March.

In December of last year The Minister of Strategy and Finance announced that the country is looking for taxation methods for the local Bitcoin market.. In January, the South Korean government announced that cryptocurrency exchanges would be taxed in line with the 22 percent corporate tax plus 2.2 percent local income tax. then it will establish “a full-scale virtual currency regulation”.

PlanB evaluates 2021 bull run.

Those who have crypto coins, good news!!! Bitcoin bull is not over, everything is on this chart!

PlanB, one of Twitter’s phenomenal crypto accounts, evaluated the Bitcoin bull run.

According to PlanB, we have not yet seen the peak of the 2021 bull run.

The popular S2F model developer PlanB suggested that the recent price drop, in which Bitcoin lost nearly $16,000 in value, was nothing more than a stepping stone to new highs.

Graph pointing to Bitcoin bull

Twitter user, who writes as PlanB, is of the opinion that “nothing will go straight forward”. By sharing the chart below, PlanB evaluated the current situation with previous bull runs.

Red line represents the current price line, blue line 2016-2017 bull run, and turquoise line 2012-2013. It shows the bull run.

As can be seen from the chart, Bitcoin has been in the 1st place in 2013 and 2017.. and 2. Before the halving, it experienced price corrections similar to today’s. In fact, the process, “the mid-way dip”, as PlanB puts it, takes place in the same time periods.

When we look at the graph in the light of these data, it can be clearly seen that we are not even halfway through the bull run yet.

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After the current correction period, the BTC price line will rise towards the target level, according to the Stock-to-Flow pattern.

PlanB believes the ultimate bull run target is $288,000.

Current In this case, we are talking about a 6x increase for Bitcoin, since BTC is trading at $ 49,000. Time will tell if PlanB’s S2F model holds up.

Live BTC price: $ 22,558.00

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Although Bitcoin has lost more than $17,000 in just a few days, on-chain data shows demand for Bitcoin is still high. Here are those indicators that indicate that the Bitcoin bull run will continue…

Can the Bitcoin bull run continue?

About ten days ago, achieved impressive momentum towards the top and recorded an all-time high of $64,800.. This coincided with the long-awaited ‘water. However, after the peak, the situation reversed.

On Sunday last week, BTC dropped to $51,500, slumping to a 3-week low.. Although he made several more jumps in the following days and largely recovered his losses, he has not been able to fully straighten himself in the declines that have been going on for the last 48 hours.

As always, the community has sparked intense discussion on possible causes of the decline.. The strongest was the theory that linked the market crash to the proposed new tax bill on capital gains in the US.

Bitcoin fell, $4 billion liquid!

Shows $4 billion liquidation in a 24-hour time frame. These negative market movements once again caused huge losses for investors and panic selling continued for a while.. However, some community members found positive news despite the trend.

So that; The ratio of funds held on exchanges and data from miners indicate that Bitcoin may continue its bull run in a short time.. Now, he said, “volatility has finally reset”. According to him, this could make the next run sustainable.

As BTC supply drops; demand is increasing!

A popular analyst, citing a chart shared by analytics firm CryptoQuant, explained the valid reasons that may still support the bullish outlook for BTC:

• Bitcoin investors continue to withdraw their holdings from exchanges.
• Miners refuse to sell despite the incredible price drop!

The number of Bitcoins held on cryptocurrency exchanges continues to decline. That is, as investors accumulate their assets and continue to withdraw from trading platforms, the selling pressure decreases. data supports this.

Also, miners have stopped sales. In fact, recently, Bitcoin miners started short selling, which resulted in serious losses, albeit for a relatively short period of time.. However, since then, miners have taken a break from sales and started HODLing.

Source

VeChain has gained massive momentum in the last 24 hours, according to CoinMarketCap data. VeChain, which saw the value of $2.96 by gaining 30 percent during the day, is currently worth $2.75 with an increase of 21 percent.

The majority of VeChain trading is done on Binance with 41 percent and Lbank with 34 percent.

Bithumb news ignited the price

Bithumb’s According to the official statement, VeChain will be listed on Bithumb. Bithumb, one of the world’s largest cryptocurrency exchanges, currently trades 13 different cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Monero, EOS, DASH, Ethereum Classic, Qtum, ICON, Bitcoin Gold and Zcash. . VeChain will also be the 14th.

There has been a big jump in price after the news that VeChain will be listed on Bithumb. VeChain (VEN) is the second most valuable cryptocurrency after Storj, with an increase of over 21 percent among the top 100 cryptocurrencies at the time the news went live.

By the way, recently, famous billionaire investor Tim Draper’ in reportedly invested in VeChain. In addition, VeChain also has partnerships with BMW.