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Bitcoin [BTC] and Ethereum [ETH] face off the bear after reaching 7-month trading volume high

Akash Anand

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Bitcoin [BTC] and Ethereum [ETH] face off the bear after reaching 7-month trading volume high
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The cryptocurrency market seems to be suffering the bear crunch again after a week of bullish gains. Major cryptocurrencies across the spectrum have seen the puck being passed between the bear and the bull which coincides with the sporadic price changes. Bitcoin [BTC] and Ethereum [ETH], the two compatriots amongst the big three have witnessed a silver lining despite all odds in the time period known as the crypto winter.

Recent analysis shows that both BTC and ETH have both recorded their trading volumes hit 7-month highs. In readings recorded just before Christmas day, over a period from December 17 to December 23, Bitcoin’s trading volume reached $46 billion while at the same time Ethereum’s trading volume hit a peak of $18.5 billion. Reports also show that the last time the trading volume was higher was back in May.

In an overall spectrum 2018 has provided good numbers for Bitcoin, with the total volume surpassing $2 trillion up until now. This is an impressive 153% hike from its 2017 volume, calculated as $870 billion. The Vitalik Buterin co-founded Ethereum was the second largest cryptocurrency after Bitcoin.

Bitcoin was also in the news recently when Anthony Pompliano, a popular analyst went on to say that Bitcoin [BTC] is a non-correlated asset. He stated:

“Bitcoin is definitely a non-correlated asset. If you look at the correlation between the digital assets and the S&P500 over the last 108 days, it’s at zero. If you look at it compared to dial index, it’s zero. So it’s proven that it is not correlated and we expect that to continue.

Pompliano had further added:



“Bitcoin is definitely a non-correlated asset. If you look at the correlation between the digital assets and the S&P500 over the last 108 days, it’s at zero. If you look at it compared to dial index, it’s zero. So it’s proven that it is not correlated and we expect that to continue.

Bitcoin’s burgeoning popularity also caught the eye of VItalik Buterin, who gave his comments on the Proof of Work. The Ethereum official had tweeted:

“I don’t believe in proof of work!”

The statement came in the wake of Buterin’s clash with Giacomo Zucco, director at BHB.Network and a crypto-influencer. Zucco had tweeted:

“Nocoiners believe in nothing (nihilism). Multicoiners believe in everything (gullibility). Bitcoiners believe in something (reason).





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more

Priya

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Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more
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Daily Crypto News – April 18

Craig Wright withdraws email evidence: The self-proclaimed Satoshi Nakamoto withdrew the email evidence submitted to the court with regard to Kleiman case. This news comes days after some members in the community suggested that the email evidence was “fake”. Notably, the evidence was withdrawn as Wright could not verify the timeframe of when the emails were exchanged.

To know more, click here!

US 2020 Presidential Candidate urges the need for cryptocurrency regulation: Andrew Yang, the United States 2020 Democratic Presidential candidate, released a new policy, which emphasized on the need for regulating the digital asset place, and also listed the actions he would do for the cryptocurrency market as the President. On his official Twitter handle, Yang stated that, “Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks”.

To read more, click here!

Bitcoin SV network witnesses yet another blockchain reorganization: It was reported that Bitcoin SV’s network witnessed another blockchain reorganization on a 128 MB block, with over six blocks orphaned [#578640–578645]. Moreover, Bitcoin SV’s network was unresponsive for over an hour.

To read more, click here!



Craig Wright takes on evidence and law: In a recent blog post, Wright speaks about proving to be the creator of Bitcoin, Satoshi Nakamoto. He stated that, “the important thing to understand is: law is law. Code (programs and algorithms) in any form is merely evidence… You see, ownership of the key is not proof of anything other than the possession of a key”

To read more, click here!





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