The crypto exchange behemoth noted that the stratospheric rise in open interest coincided with Bitcoin’s price rise to $12,000 during the beginning of August. Also, when BTC attempted to break past the $12,400 mark, which is the current 2020 high, futures open interest hit $1 billion again. Each Satoshi represents a hundred millionth part of Bitcoin which means that 100,000,000 Santoshi = 1 BTC. Additional Bitcoins are generated by a process known as mining. Bitcoins are mined by professional miners solving complex computational equations. For each Bitcoin mined, the miners are rewarded with either more coins or transaction fees. The monthly Kama average support price levels should remain valid for several months to come, I do not expect the monthly average (slope) to turn bullish or bearish in the short-medium term. I expect this market to remain sideways for several months. Above the Kama average at $7000 bitcoin would return to a strong position. Resistance for this year from $14,000 to $23,000 (price range similar ... Bitcoin isnt a stock and is mostly owned by early adopters that want to make money using trading and they only know how to “pump and dump” . this beaivour make ppl afraid of buying it at those prices and this what got it into the bearish trend we are seeing. ... Enky is 266+ and increasing network difficulty. ... the Bitcoin protocol can ... I have updated the values of the bitcoin production cost indicator for the Chinese province of Sichuan (35% of hashrate share) where the cost of electric current does not exceed 1 cent per kilowatt hour. For a miner located in this Chinese province the cost to produce a whole bitcoin does not exceed 4000 dollars, this price falls within the support area of my kama bands on the monthly chart.
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