Tag: $BTC

Bitcoin’s recovery is a study in the coronavirus, fear and reactionary swings

Bitcoin’s volatility is hard to gauge. Minor spikes and dips happen all the time, and what cryptocurrency enthusiasts consider to be minor are catastrophic and atmospheric bounces to traditional stocks and bonds. But when the shit hits the fan it really distributes the proceeds widely, as we saw earlier this month as the effects of the coronavirus caused a monumental dive in Bitcoin’s fortunes. Since then, though, it’s been in recovery. First in drips and drabs, and then occasionally in large 10% bounces and finally to where we are today, with Bitcoin’s price resting at roughly between $9,000 and $9,500, which is up from its lowest point three weeks ago at $6,773.20.

The sky is falling so where is all the money going if not into bitcoin

Bitcoin is supposed to be a safe-haven currency. When the markets go to shit like they are today, in theory people evacuate their traditional positions and throw their money into digital currencies and other adjacent crypto-related stock, like bitcoin mining or one of the many digital asset companies offering the proximity and benefits of bitcoin without any of the hassle of actually owning any.

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Crypto 101: Bitcoin mining and its discontents – what to look for and what to avoid

Getting involved in Bitcoin mining used to be as easy as kicking your little brother off of World of Warcraft long enough to log into the server and start the process. It cost little, and gave you a few neat little tokens to shore up your geek cred among your fellow nerds, and maybe your little brother could get a kickback for his time if you order him a pizza or something.