Bitcoin News Today – Headlines for December 19
Bitcoin is the leading digital currency in the world today. And in this article, we are highlighting the latest news surrounding this lucrative currency
Bitcoin Deemed as the Most Lucrative Investment of this Decade
CNN in its recent report has touted Bitcoin as the best investment of the decade. The company’s claims were backed by data offered by Bank of America Securities, which revealed a small USD 1 Investment in Bitcoin to the worth USD 90, 0000, making it to the star in 2010. Irrespective of its recent performance, the digital currency continues to rule traditional investment. While the USD stock market is the strongest market in the world, USD 1 in American stock at the beginning of the decade is presently valued at merely USD 3.46. The value of BTC has certainly been down in recent times, it still managed to gain the title of “best investment of the decade.”
UTXOs in Loss- Investors likely to hold their currency among the Price Sell-Off
The Unspent transaction outputs in loss rose at a concerning amount of USD 45 Million on December 17th, 2019. This number represented a 578% increase from the month of July when the figure touched USD 6.69 Million. A UTXO has denoted as the remaining Bitcoin post a transaction. A loss-generating UTXO is one whose value at the time of generation was higher than the current price. This loss-metrics goes on to indicate that investors are likely to retain their loss-making results.
Bitcoin Drops Below USD 6500 and Crosses Above USD 7,100; all in 8 Hours Span
At the start of the day, the candlestick across the Bitcoin chard strode across the upper half of USD 6,000. Around 7:51 Am ET, the market witnessed a sell-off. The largest market of BTC, Binance saw 1000 Bitcoin changing its course within two minutes, resulting in the price fall below USD 6,500. However, after only a few minutes, 897 BTC were traded on the exchange the price reached a stable figure of approximately USD 6,537. The calm lasted only for a couple of hours as another sell-off began with 986 coins finding a new account. The rally truly began at 8:31 Am ET, where Bitcoin managed to gain USD 74 in two minutes, closing the market at USD 6595.94 at 8:32 am. The currency at 11:00 Am was trading at USD 6,900 apiece. By 3:30 pm, Bitcoin came around USD 7,200 resistance level.
Is Bitcoin the New Digital Gold?
According to the reports, cryptocurrency is becoming mainstream and less volatile. The year 2019 was established with a strong foundation of prices, at the beginning of the year, the coin was valued at 4000 and at the time of writing it stands at USD 7,207. In the coming year, mass adoption and flexible regulations will be key forces that will support the Bitcoin market. Bitcoin has been witnessing increasing adoption, which is a great sign that in the coming years the prices of this coin will only getting higher.
Bitcoin Current Price Analysis
At the time of writing, the value of Bitcoin stands at USD 7,207 and it is currently standing at 1st position in the crypto market. The Return on Investments of Bitcoin is 5,226.74% with a maximum supply of 21,000,000 BTC. Viewing the data, it can be predicated that Bitcoin is moving in a strong position and will be gaining a lot of attention from the investors.