Undoubtedly, [Bitcoin](/coins/btc) is the largest and most impactful cryptocurrency in the market. It has shaped the entire crypto market and blockchain industry. That's why many developers are introducing projects based on renditions in the Bitcoin protocol.
 
One such crypto is [Bitcoin Diamond (BCD)](https://www.bitcoindiamond.org/), launched in 2017. It is a fork of the BTC blockchain and is separate from the mainchain after the #495866 block. BCD aims to resolve issues like limited scalability, low transaction speed, and cost-intensive mining of BTC. 
 
But how does Bitcoin Diamond work? Let's take a look!

## Bitcoin Diamond (BCD) token

BCD token is one of the hard fork tokens of the BTC blockchain. It launched in November 2017, when the BTC's block reached its maximum capacity. Its creators modified the source code of Bitcoin and developed a separate chain. Introducing a new token enhanced security and scalability and provided better decentralisation. 

Also, its creators claim to offer lower transaction fees with greater efficiency than BTC. In addition, it solves the issue of the highly cost-intensive mining of BTC, as it allows mining through GPUs. There are currently 189,492,898 tokens in the market, whereas its maximum supply is 210,000,000 tokens.  
How does it work?

BCD mainly uses the Bitcoin Core but has several other features that help scalability, security, decentralisation, and mining through GPUs. The BCD chain differs from the BTC chain as it uses 8MB blocks and the Lightning Network as a layer-2 protocol for greater efficiency. It can process 100+ transactions in a second. Moreover, it encrypts the transaction amounts to improve decentralisation.

Though it also uses the Proof-of-Work (PoW) consensus mechanism, its algorithm is not the same. Instead of BTC's SHA-256 algorithm, it relies on the X13 PoW, which helps in making it compatible with various graphic user interfaces (GPUs) needed for mining. 

## Bitcoin Diamond (BCD) price

Bitcoin Diamond did not hold an initial coin offering (ICO). However, 10 BCD tokens were distributed to BTC holders for every Bitcoin. In the initial days, its price was around $60 and peaked at $104.84 on November 25, 2017. 

But since then, the coin has seen chiefly a downward trend. Its price is only around $0.1975, and it recently hit its lowest of $0.136 on June 13, 2022. 

![bitcoin diamond.jpg](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bitcoin_diamond_94839ee77f.jpg)
 
([Source: Coinmarketcap, 2022](https://coinmarketcap.com/currencies/bitcoin-diamond/))

But since then, the coin has mostly seen a downward trend. Currently, its price is only around $0.1975, and it recently hit its lowest of $0.136 on June 13, 2022. 

## Bottom line

Bitcoin Diamond is one of the forks of the BTC blockchain. It uses a remodelled version of the Proof-of-Work mechanism to tackle the issues like scalability, security, decentralisation, and steep mining costs. This fork offers larger blocks and a lightning network for better efficiency. 

However, it has not gained much popularity compared to other forks like BCH, BTG, or BSV. The reason is that it has not performed well in terms of price so far. And its blockchain technology's use cases have not been quite as impactful. 

Bitcoin Diamond explained: how does it work?

One of the largest operators of [cryptocurrency ATMs](/news/article/bitcoin-atm), Bitcoin Depot, has decided to list by merging with a special purpose acquisition company (SPAC) on the Nasdaq exchange. Bitcoin Depot announced the merger with the SPAC GSR II Meteora Acquisition Group (GSRM) will be complete by the end of 2023.

Bitcoin Depot was founded in 2016 and is based out of Atlanta. Bitcoin Depot's services make it easy, fast, and convenient to exchange fiat currency for Bitcoin. 

The total price of the deal is forecast to be $885 million. The transaction estimates to raise around $321 million, which will be deposited into a trust account managed by GSRM and used to provide working capital for Bitcoin Depot.

The funds will provide working capital to expand the business's current and new products. 

## Over 7,000 Bitcoin Depot stores nationwide

Due to the planned listing during a market downturn, with investors' declining risk tolerance will make raising capital tricky. Bitcoin ATMs allow customers to purchase BTC or other cryptocurrencies with cash or debit cards. Cryptocurrencies are then sent instantly to the customer's [preferred wallet](/news/article/crypto-wallet-multiple-currencies).

You don't need to go to a cryptocurrency exchange platform to do all this! Scammers who post fake ads for goods on online marketplaces like eBay and Craigslist have been linked to the crypto ATM business.

Scammers direct victims to deposit cash at an ATM and then transfer cryptocurrency to a specified address. These fraudulent vendors take payment but never send out the purchased items. Across the United States and Canada, BTC Depot has a network of over 7,000 retail locations.

Eighty countries now host over 38,000 cryptocurrency ATMs. Bitcoin Depot, headquartered in Atlanta, claims to have 19.1% of the global crypto ATM market.

## Crypto ATM business network expansion

Bitcoin Depot's mission is to spread awareness of BTC to the broadest audience possible. Cryptocurrencies have simplified the processing of monetary transactions.

BTC Depot's CEO and founder Brandon Mintz said, "Today marks an important milestone for Bitcoin Depot." We see a lot of potential for expansion, and we think going public will help us get closer to our ultimate goal of offering a simple and safe way to buy cryptocurrency. 

In recent years, SPACs have gained much popularity as a method of public listing. The U.S. Securities and Exchange Commission (SEC) has warned that SPACs will be subject to increased scrutiny, which one must consider before investing.

Crypto ATM business Bitcoin Depot to list as SPAC 

Bitex Bitcoin provides a mobile and online platform for investing and trading in digital assets and a matching engine capable of processing up to 1 million transactions per second. The exchange also provides charting tools, order books, trade options, and a derivatives platform with quarterly futures contracts and margin trading. 

[Bitex Bitcoin](https://www.financialexpress.com/market/crypto-exchange-bitex-begins-providing-cryptocurrency-investment-disclosure-following-govt-mandate/2236916/), which was established in 2014, in Buenos Aires, Argentina, also provides financial services. Customers benefit from the company's services for cross-border payments, payroll, and billing clients overseas at the lowest possible cost, time, and effort. 

Bitex does not allow U.S. investors to trade on its exchange for foreign exchange control reasons.

In terms of the trading view on the bitex Bitcoin platform, it is similar to other brokerages.

On the [bitex platform's landing page](https://www.bitex.la/) on 10 June 2019, the price chart below displays the volume and the highest bid and ask prices. It displays the order book, or at least a part of it, and a price chart of the selected cryptocurrency and order history. There also two conveniently located  buy and sell boxes. 

![bitex.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bitex_80029db772.png)


The Bitex trading platform offers a lot more than simply placing orders. For professionals, it provides complex charting and financial indicators. 

Users may also place spot and limit orders on all available trading pairs on Bitex for [Bitcoin](/coins/btc) and use the pre-existing 10+ indicators to customise charts to match their trading needs.

## Trading Fees of Bitcoin on Bitex 

Bitex charges a flat 0.50 % trading fee regardless of whether investors are makers or takers. This trading cost approach may appeal to investors who want to pick up existing orders from the order book. 

Bitex's flat trading costs of 0.50 % are higher than the industry average of 0.25%. In addition to trading costs, there is an annual 0.50 % "custody charge," regardless of trading activity or lack thereof.

## Bitex- withdrawal and deposit fees

Bitex withdrawal costs for Bitcoin are 0.0004 BTC. Wire transfers is available however credit cards are not. As a result, their withdrawal costs are reasonable.

## Bitex technology and security 

To stop the rise in fraud, the Bitex Bitcoin exchange platform utilises cutting-edge technology and the best development methods. In order to protect user privacy, all identity papers supplied to the exchange are securely kept in a remote database using the most robust encryption standards. Furthermore, to guarantee a secure experience, Bitex deploys various security methods such as 2FA, email verification, I.P. filtering, mobile verification, and manually verifying anomalous account activity and transactions. 








How Bitcoin is traded on the Bitex Bitcoin

A considerable degree of demand appears to have been built at the $20,000 level for Bitcoin after the drop last month, creating a floor. 

## Assessment of the Bitcoin drop

On Monday, blockchain research startup Glassnode released its latest "The Week On-Chain" [report](https://insights.glassnode.com/the-week-onchain-week-31-2022/), which assessed [Bitcoin's drop](/news/article/norway-bitcoin-mining) during the previous week. 

Analysts cited sideways growth in transactional demand, active Bitcoin drop addresses continuing in "a clearly defined downward trend”, and decreased network fees as reasons to dampen investors' enthusiasm about the 15% increase in BTC price over the last week. 

[According to CoinGecko](https://www.coingecko.com/en/coins/bitcoin), Bitcoin has been down 2% in the previous 24 hours, trading below $23,000 to $22,899. 

The features of a bear market seem prevalent, such as a decrease in on-chain activity and a shift away from speculative investors and toward long-term holders.

According to Glassnode, a drop in network activity might indicate a lack of fresh demand from speculative traders over long-term holders and investors who strongly believe in the network's technology. 

The present network demand pattern and the one developed in the 2018-2019 period were comparable, according to the research. Like the last cycle, network demand dwindled following the all-time high in BTC price in April 2021. Demand increased noticeably in the months running up to the following November when prices reached a new high. 

However, demand has been declining since last November, leading to a bitcoin drop, with a significant dip during the mass sell-off in May:

Network costs have entered "bear market territory" due to a lack of demand from anybody other than hardcore Bitcoin fans. Daily network fees hit 200 BTC when prices reached an all-time high last April. Over the last week, daily fees totaled only 13.4 BTC. 

If fee rates climb significantly, demand is increasing, which will assist in supporting future "positive structural shifts" in Bitcoin network activity:

## Optimism amid the Bitcoin drop

On a brighter note, capacity in Bitcoin Lightning Network (LN) public channels continues to reach new all-time highs. Despite the current weak market, total LN public capacity has reached 4,405 BTC, a 19% growth over the previous two months.



















Has Bitcoin's drop reached its floor?

What are the trending crypto coins that investors should be watching this week?

The latest economic news from the US suggests cryptocurrency markets may have more room to rebound from the downturn earlier this year.

## Job Market

The US jobs report on August 5 exceeded market expectations, indicating inflation hasn't dropped. Strong figures diminished the chance that the Fed will delay rate hikes.

CME Group data shows a September rate hike of 75 basis points is now 68% likely. Fundstrat analysts disagree.

The S&P 500 bottomed six months before the Fed's last rate hike on three out of six occasions. In the year's second half, it's anticipated that the S&P 500 could surge to 4,800. If the correlation between equities and crypto markets holds, the crypto markets may have more room to rebound.

If Bitcoin (BTC) does go through the $25,000 mark, there is no substantial barrier until $26,000 to $28,000, according to Material Indicators. Could Bitcoin break through the resistance and drag altcoins higher?

## Trending Crypto Coins: BTC/USDT

Analysis shows that Bitcoin has been trading near the 20-day exponential moving average (EMA) of $22,719 for a few days, indicating a bull-bear struggle. The bulls have held the level, but haven't rebounded strongly. This signals lower demand.

The fact that both moving averages have flattened and the RSI is just over the middle indicates that buyers and sellers are balanced. Buyers could gain if they push the price above $24,668. If they do, BTC/USDT might climb to $28,000 and perhaps $32,000. If bears do pull the price below the 20-day EMA, the pair might fall to a 50-day SMA of $21,719.

If this support breaks, the uptrend line may be next. The last four-hour chart showed $22,400 to $23,648. Again, both of the moving averages have flattened, and the RSI is midway, indicating a supply-and-demand balance.

If bulls push the price above $23,648, the pair might reach $24,668. Bears will have a short-term advantage if the price falls below $22,400. The pair could fall to the uptrend line of solid support.

## Trending Crypto Coins: FLOW/USDT

Flow (FLOW) broke out of a tight trading range on August 4. This signals accumulation and a fresh uptrend. Bears are trying to arrest the uptrend near $3, but bulls haven't lost much ground. Traders aren't booking profits after the recent rally. This means that bulls have the upper hand as the 20-day EMA of $2.07 has risen, and the RSI is nearly overbought.

[FLOW/USDT might surge to $4.60](https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-flow-theta-qnt-mkr) if investors push the price above $3.00 to $3.30. The pair has turned down $3.00, but is finding support at the four-hour 20-EMA.

Bulls could retest $2.99 if the price rises above $2.80. The rise could resume if this level is broken. If the value goes below the 20-EMA, this pair might fall to the 50% Fibonacci retracement level of $2.41 and then to $2.27. A break below this level could favour bears and send the pair under $2.00.

## Trending Crypto Coins: THETA/USDT

Theta Network (THETA) broke and closed above $1.55 on August 5, signalling a bullish range resolution. On August 6, bears sought to lower the price below the breakout mark, but bulls resisted. The 20-day EMA of $1.39 is rising, and the RSI is bullish, favouring buyers.

If bulls keep THETA/USDT over $1.65, a new rally toward $2.10 could begin. If bulls overcome this resistance, the pair might climb to $2.60. Bears must pull prices below $1.55 to invalidate this bullish perspective.

If so, aggressive bulls may get trapped, and the pair may decline to moving averages. The four-hour chart indicates that bulls bought the decline to the 20-EMA. Both four-hour moving averages are rising, and the RSI is near overbought, indicating bullish momentum.

If bulls retain $1.65, the uptrend may restart. A closure below the 20-EMA will signal weakness. If so, the duo might hit the 50-SMA. Bears must push prices below this level to end the rally.

## Trending Crypto Coins: QNT/USDT

Quant (QNT) rallied from its June 13 low of $40. It seems that bulls have aggressively bought the dip below the 20-day EMA of $103 on July 26. Bulls drove the price above $115 on August 6. The rise resumed.

The QNT/USDT pair could rally to $154 to $162, where bears may defend. [Bulls will try to turn $115 into support if the price drops](/news/article/crypto-fear-and-greed-index). If so, the pair's upswing might resume. Bears must push prices below the 20-day EMA to win.

The pair is on an uptrend, but the four-hour RSI is overbought, suggesting a near-term pullback. Bulls should purchase declines to 20-EMA. If they do, it will show that traders are buying on dips. That increases the likelihood of an uptrend.

If the price drops below the 20-EMA, the pair might fall below the 50-SMA. A break below this level could send prices to $100.


Trending Crypto Coins to Watch: BTC, FLOW, THETA & QNT

When discussing cryptocurrencies, we cannot forget – Bitcoin (BTC), the most influential crypto coin. BTC is the most reputable and generally acknowledged cryptocurrency in the world. With its first-mover advantage and broad popularity, Bitcoin significantly impacts the whole crypto industry. Bitcoin dominance reflects Bitcoin’s effect on the cryptocurrency market.

[BTC dominance](https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/) is a percentage that shows how much of the total cryptocurrency market cap is made up of Bitcoin. It’s calculated by dividing Bitcoin’s market capitalization by the total market capitalization of all cryptocurrencies.

It can measure Bitcoin’s authority over the entire cryptocurrency market. It can also be used to see how various events or news announcements affecting Bitcoin may also affect the rest of the market.

## How does BTC dominance work?

BTC dominance is a metric that measures Bitcoin’s market capitalization as a percentage of the total cryptocurrency market capitalization. In other words, it’s a way to track how much influence BTC has over the entire cryptocurrency market.

It is determined by taking Bitcoin’s market capitalization and dividing it by the total market capitalization of all cryptocurrencies. This number is then expressed as a percentage. 

For example, if Bitcoin’s market cap is $100 million and the total market cap for all cryptocurrencies is $1 billion, then BTC dominance would be 10% (100 million / 1 billion).

BTC dominance can be used to track the popularity of Bitcoin over other cryptocurrencies. It can also identify opportunities and trends in the cryptocurrency market. For example, if BTC dominance is declining, it could be a sign that investors are reallocating from Bitcoin and towards other cryptocurrencies or asset classes.

## What are the benefits of BTC dominance?

There are a few benefits that are worth mentioning. Firstly, it gives investors and traders a clear view of the market and how different cryptocurrencies are performing. This can be helpful when making investment decisions, as you can see which currencies are in demand and which ones are on the decline.

This metric also makes it easier to trade cryptocurrencies. When all coins are grouped, it can be challenging to determine which currency is being traded and at what price. With BTC dominance, the prices of all the coins are converted into BTC and displayed as a percentage. This makes it easier to understand the market and make informed trading decisions.

Finally, it could have a positive impact on the overall crypto market. By reigning in the wild fluctuations that can occur when multiple cryptocurrencies are traded at once, it could help to stabilize the market and encourage more widespread adoption.

## Using BTC dominance to trade crypto

At any moment, BTC dominance is a sign of who has a firmer grasp on the market - whether investing in Bitcoins is profitable or whether altcoin investments offer bigger upsides. The ratio might reveal which currency has the most potential among Bitcoin and [Altcoins](/news/article/altcoins-to-watch-2022).

Check Bitcoin’s price patterns in that time frame after the trend around the BTC dominance ratio has been identified. Following that, a basic process may be utilised to develop a plan.

•	If the ratio rises and Bitcoin rises, purchase bitcoin.

•	If the ratio rises and Bitcoin falls, sell altcoins.

•	If the ratio is falling and Bitcoin is rising, then buy altcoins.

•	If the ratio declines and Bitcoin declines, sell Bitcoin.

Investors can find trading opportunities once the approach has been set.

Trading at extremes is another method. From 2018 to 2021, BTC dominance reached a high of 74 percent and a low of 35 percent. It is improbable that the ratio will rise above or below its previous highs and lows. A reversal is possible when the ratio approaches these historic highs and lows. As a result, there is a strong probability that the ratio will decline at an exceptionally high reading and vice versa. It is highly unusual for the dominance ratio to deviate from its normal range. As a result, when such a situation occurs or the ratio approaches certain levels, it provides strong trading possibilities.

Thus, the BTC dominance ratio can assist in identifying future trading opportunities.

## Bottom line

BTC dominance is a percentage that shows how much of the total cryptocurrency market cap is made up of Bitcoin.

Knowing BTC Dominance rate is essential because it can tell you a lot about the overall market and how people are trading. For example, if the ratio is high, Bitcoin is doing well, and people are investing in it. If the ratio is low, people are investing in other cryptocurrencies instead.

Keep an eye on BTC dominance to understand where the market is heading!




What is BTC Dominance?

In recent years, the online gambling industry has progressed tremendously as it is worth [61.5 billion USD](https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/) and is expected to grow by 86% in 2028. The primary reason behind its growth is the inclusion of cryptocurrencies in gambling. 

Now, various online casinos deal in fiat currencies and digital tokens. One of the most popular options is mBit Casino which is ideal for [Bitcoin](/coins/btc) players. But, like any other online gambling platform, critics question its legitimacy. Are you wondering whether this casino is white-labelled or not? Read this review to find out the truth! 

## How does gambling work on mBit Casino?

mBit is a Bitcoin wagering platform that is regulated by the Curacao government. You can anonymously register on it and start gambling in Bitcoins. However, if you want to bet with fiat currencies, you would need to provide your personal details. It offers a variety of game categories and payment options. 

Other than Bitcoin, you can gamble with Ethereum, Dogecoin, BitcoinCash, Litecoin, and Tether. It gives you jackpot opportunities like Mega Moolah, or you can try your luck with free spins. 

## Prominent features 

1.	Deposit/no deposit welcome bonuses
You can either deposit an amount initially or start without it. In either case, you will get welcome bonuses. mBit no-deposit welcome bonus will be 50 free spins. Whereas your initial 3 deposits will earn you 250 spins and up to 2.5 BTC.  

2.	Variety of game types
The range of game categories it offers is another distinctive feature. You will get a table, poker, jackpot, slots, and live dealer games. These games are backed by reputable gaming providers. 

3.	Anonymity and security
Crypto gambling will ensure that you remain anonymous. It doesn’t require personal information and keeps you safe from data thefts. Curacao regulates the casino and it has the backing of CoinGaming.io and Direx NV, making it a secure space for gambling.

4.	Withdrawal speed and payment options
Its speedy withdrawals and numerous payment methods are other special features. For transactions, you will have options like bank transfer, Visa, MasterCard, Skrill, Accentpay, and many others.

## Final Verdict: Is mBit Casino legitimate?

In a nutshell, yes, it is a legit, white-label platform for Bitcoin gambling. The Curacao government oversees its regulations which ensures the platform’s safety. Its affiliation with CoinGaming.io and Direx NV further verifies its authenticity. 

Besides that, the range of secure payment options like Visa, MasterCard, Skrill, and others, adds to its credibility. So, good news for Bitcoin gamblers: mBit Casino is legitimate, making it one of the favourites to go!




mBit Casino Review

For the CEO of Tesla, Elon Musk, base layer transactions of the Dogecoin (DOGE) chain are far more superior to Bitcoin and Ethereum’s.

Recently he commented on his support for Dogecoin, saying the token actually has “a much higher transaction volume capability than Bitcoin, and the cost of doing a transaction, the Dogecoin fee, is very low". 

"Right now, if you wanted to do a Bitcoin transaction, the price of doing that transaction is very high. So, you could not use it effectively for most things," he said.

In his latest pubic speech at the Qatar Economic Forum, Musk reiterated his support for DOGE although the meme-based cryptocurrency plunged from an all-time high of $0.76 in 2021 to a price of $0.068 at the time of writing.

Musk is currently facing a[ $258 billion lawsuit over allegations](https://news.monitalks.io/news/article/elon-musk-dogecoin) his companies SpaceX and Tesla are part of a racketeering scheme to back Dogecoin. He explained his love for the currency by saying he met many people who were not rich but who encouraged him to buy the token. “I am responding to those people,” he said.

He also clarified that while Bitcoin and Ethereum “are pursuing a multilayer transaction system”, their base layer transaction rate is slow and transaction cost is high. 

“There is merit to Doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer,” [he elaborated](https://twitter.com/elonmusk/status/1413396249546563586).

## Dogecoin more scalable than Bitcoin according to Mr Musk

When talking about the differing monetary policies between Bitcoin and Dogecoin, Musk said that low issuance rate could result in hoarding and discourage spending. 

Bitcoin cuts the issuance rate in half roughly every four years, while Dogecoin has an unchangeable issuance rate.

“It won’t need to reach visa speed, as regulated exchanges will act as de facto second layer. But the perfect should not be the enemy of the good – it is still good to increase base layer transaction speed & lower base layer transaction cost,” Musk concluded.

The thing is straightforward, after all -  Dogecoin is more scalable because of its layer-one protocol that doesn’t need one more network. The term layer-one is used to define the primary blockchain architecture. Layer-2, on the other hand, is a network that appears at the top of the underlying blockchain.

Even though Bitcoin advocates have been slamming Musk's tweets, saying he's making a groundless admonishment of the widely-adopted cryptocurrencies, the cost and speed of the Bitcoin blockchains have actually been problematic in the past. However, recent upgrades have improved both.


Elon Musk's view on base layer functionality

According to Tesla's newest Q2 financial statement, Bitcoin was one of the essential items that impacted the operating income.

As per the official data, the operating income improved year-to-year to $2.5 billion in the second quarter, resulting in a 14.6% operating margin.

"As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency," Tesla's statement said, adding: "Conversions in Q2 added $936M of cash to our balance sheet."

However, during the regular quarterly investor call, the company's CEO, Elon Musk, revealed that even though Tesla holds Dogecoin as well, it didn't convert any of that into fiat.

 "We still have it," Musk claimed.

Just a month before, speaking at the Qatar Economic Forum in Doha, Musk confirmed he supports Dogecoin, reiterating that Tesla accepts the currency as payment for its products. He also announced that his company SpaceX intends to do the same.

Musk says he intends to 'personally support' Dogecoin in response to the many people who are not wealthy and have encouraged him to buy and support DOGE.

## Tesla’s Musk – Bitcoin and Dogecoin advocate

Back before, Musk was [pretty vocal](/news/article/elon-musk-bitcoin) about owning Dogecoin. However, he never confirmed that Tesla or SpaceX have it in their portfolios. It is not known whether the assets left in crypto are remaining Bitcoin or, perhaps, Dogecoin.

If we try to calculate how much Bitcoin Tesla has left, we should look at the sheet where it says the company owned 42,000 Bitcoin heading into the second quarter.

After the company sold 75%, there should be 10,500 at the quarter's end. We can only presume that the snapshot was taken somewhere at the end of June when fiscal Q2 ended. At the time, 1 Bitcoin was worth somewhere between $18,750 and $20,300. This could mean that there are 10,500 coins, of which $197 to $213 million are Bitcoin.

Musk has been a crypto advocate for years and was pretty influential in market moves. In 2021 he helped Bitcoin jump after admitting Tesla bought some for its corporate vault.


Tesla Bitcoin Sale Confirmed by Elon Musk

## Bitcoin escapes extreme fear on the index following a rise in sustainable mining

On July 19, the Crypto Fear and Greed Index dropped from "extreme fear" to "fearful," scoring 30 out of 100. It has since risen somewhat to an index score of 31. The indicator is primarily calculated using market volatility, volume and dominance, social media sentiment, surveys, and search trend data.

According to Santiment, BTC's average funding rate on exchanges has reached its highest levels in the last two months as the price of BTC rises above $23,600, with five Fintech professionals at Finder and 53 industry experts predicting that BTC will [bottom out](/news/article/bitcoin-dip-over) at $13,676 before rising to $100,000 by 2025 and $300,000 by 2030.

## Sustainable mining bitcoin power hits 59.5%

According to reports, increased costs have driven increased [sustainable mining](/articles/our-news/sustainable-future), as indicated by a substantial rise in efficiency over the last eight years. As oil and gas energy prices increase and the cost of renewable technology decreases, it makes not only financial but environmental sense to engage in sustainable mining.  
Mining equipment demand has risen as prices rise, driving device innovation for cheaper alternatives. Efficient devices are more cost-effective and lucrative, pushing less profitable alternatives out of the market.

As per the Bitcoin Mining Councils BMC's Q2 review of the Bitcoin network, issued on Tuesday, the global Bitcoin mining industry's usage of sustainable mining energy is up 6% from Q2 2021 and 2% from Q1 2022,  [reaching 59.5%](https://www.investing.com/news/cryptocurrency-news/sustainable-bitcoin-mining-power-mix-hits-595-btc-mining-council-2849155) in the latest quarter, making it one of the most sustainable sectors globally. The council saw a rise in miners' energy mix correlated with an efficiency improvement. It was also discovered that Bitcoin mining accounted for just 0.09 % of the projected 34.8 billion metric tonnes of carbon emissions produced globally and required only 0.15 % of the global energy supply.

United States legislators are particularly interested in the condition of the country's Bitcoin mining energy use after they issued a letter to the Environmental Protection Agency and the Energy Department, requesting that mining businesses report on their emissions and energy use.


Sustainable mining of Bitcoin rises to 59.5%

The Bitcoin price rose by 7 percent on July 20, while Ether news now confirms its $1,500 level. The cryptocurrency market was bullish as the new day began, with Bitcoin (BTC) breaking the price zone of $23,000 while Ether (ETH) was successful in maintaining the price level of $1,500.

## Ethereum's Price Stabilization

The leading cryptocurrency, Bitcoin, increased in value by 7.6 percent, while Ethereum saw its value increase by 4 percent over the past day. According to data provided by CoinMarketCap, the prices of one bitcoin (BTC) and one ether (ETH) as of 12:12 p.m. Eastern Time were respectively $23,465 and $1,563.

The market capitalization of BTC controls increased to 42.98 percent, up from 41.31%, while the market capitalization of Ether decreased to 18.09 percent, down from 18.2 percent.

A survey conducted by CoinMarketCap projects that the price of one Ether will reach $2,765.93 by the end of July, while another survey projects that the price of the most popular cryptocurrency, BTC, will reach $33,267.03 by the same time period. In total, there were approximately 34,247 and 12,313 people who cast their votes, respectively.

On the other hand, according to the data compiled by PricePredictions, Bitcoin will be worth more than $35,213.01 in 2022, while Ether will be worth more than $2,345.58. The prices of the two tokens have significantly increased as a result of this development.

In April, Antoni Trenchev, the Chief Executive Officer of the cryptocurrency lending company Nexo, made a bullish prediction by stating that Bitcoin could reach $100,000 within the next year.

Cardano (ADA), Cosmos (ATOM), Flow (FLOW), [VeChain (VET)](/news/article/vechain-news), and Helium (HNT) were the top five cryptocurrencies by daily gain, increasing by 10.57 percent, 10 percent, 11.7 percent, and 10 percent, respectively.

Helium (HNT) was the top cryptocurrency by daily gain. As of 12:33 a.m. Eastern Time, the prices of these tokens were as follows: $0.5251, $10.28, $2.06, $0.0271, and $10.22.

As the prices of BTC and Ethereum continue to rise, more and more people are taking notice. Experts are making bullish predictions about the future of both currencies, with some saying that they could reach new heights shortly. Keep an eye on the Ethereum news now to stay up-to-date on all the latest developments in this exciting market! 

For more developments on the crypto news go to Latest Moni.


Ethereum news now confirms $1,500 price level

The Bitcoin dip has been going on for a while now, and some people wonder if it is coming to an end. While we cannot be certain, there are a few things that could indicate that the dip might be nearing its end.

## Signs the Bitcoin Dip Might Be Nearing its End

One of the most obvious signs is the recent increase in BTC prices. After months of decline, Bitcoin prices have started to rebound in recent weeks. This could signify that investors are beginning to see value in Bitcoin again and are willing to buy it at higher prices.

Another sign is the increasing number of transactions on the BTC network. Despite the price decline, the number of BTC transactions has continued to grow throughout the dip. This indicates that people are still using BTC and are finding ways to transact despite the lower prices.

The increasing number of Bitcoin-related projects and businesses could also be a sign that the Bitcoin dip is ending. Several projects were postponed during the dip, but there are still a number of companies working on new Bitcoin-related products and services. This suggests that there is still interest in BTC from both businesses and consumers.

What’s more, key indicators suggest that [BTC](/coins/btc) is currently undervalued. For example, the Bitcoin Relative Strength Index (RSI) is at 26, the lowest since 2018. This indicates that Bitcoin is currently oversold. In addition, Bitcoin has fallen past its 200-week moving average of $22,350, another sign that it's a bargain.

Of course, predicting where the bottom is for Bitcoin is impossible. Values fluctuate wildly, driven by speculation, hype, and the whims of the broader economy. However, the signs mentioned above suggest a good chance that the worst of the Bitcoin dip is over.

While some investors see this as a buying opportunity, others are worried that the market is in for more pain.

## Shark Tank's Kevin O'Leary Buying the Dip

TV personality and investor Kevin O'Leary said he's [taking advantage of the recent dip](https://markets.businessinsider.com/news/currencies/kevin-oleary-shark-tank-crypto-investing-strategy-portfolio-bear-market-2022-6) in prices to add to his positions in Bitcoin and Ether.

"I'm a buyer of dips; that's my general philosophy," O'Leary said on CNBC's Halftime Report. "I think we're in a long-term bull market for Bitcoin, and I don't try to time the short-term gyrations."

O'Leary, who has been investing in cryptocurrencies for about two years, said he sees Bitcoin as a store of value similar to gold. He also believes that Ethereum, the second-largest digital currency by market value, has more upside potential than BTC because it's being used more by corporations and developers.

"In the short run, anything can happen," O'Leary said. "But if you're a believer like I am in the long-term story...then you buy the dip."

## Factors to Consider

- First is your risk tolerance. What level of risk exposure are you willing to take on? If you are risk averse, then buying the dip may not be for you.
- Second is your time frame. Are you investing long-term, or are you looking to make a quick profit?
- Thirdly, consider your investment goals. Know what you hope to achieve by investing in Bitcoin.
- The other important thing to consider is your knowledge of Bitcoin and cryptocurrencies. Do you fully understand how BTC works and the risks involved?
- The fifth factor is the price. Is the current price attractive compared to where you think bitcoin will be in the future?

## Conclusion

So, is now the time to buy? Only you know the answer to that.

Of course, there's no guarantee that BTC prices will rebound or that the current dip is a good opportunity to buy.

However, if you have faith in the long-term potential of Bitcoin, then buying during a dip can help you towards better returns.


Is the Bitcoin Dip Over?

Scammers are at it again with Bitcoin. This time, another bogus celebrity endorsement is being used to trick unsuspecting members of the public into joining up for various Bitcoin trading sites. This time it is the [Ant McPartlin Bitcoin scam](https://www.economywatch.com/bitcoin-robot/ant-mcpartlin-bitcoin).

In this article, we look at a con involving Ant McPartlin's name and analyse whether the TV star ever actually got involved in Bitcoin Revolution, a BTC auto-trading business.

## Who is Ant McPartlin?

Anthony David "Ant" McPartlin is a British television producer, rapper, singer, comedian, actor, and TV presenter born in Newcastle upon Tyne in 1975. Because of his talent, he has a large following that extends beyond the United Kingdom.
McPartlin is well-known for his work as a co-presenter with Declan Donnelly, known colloquially as Ant and Dec.

McPartlin has garnered honours for his outstanding contribution to the media business, including the British Academy Television Awards: Entertainment Programme (Ant & Dec's Saturday Night Takeaway) and the British Academy Television Awards: Live Event (The Queen's 90th Birthday Celebration).

## What is Bitcoin Revolution?

[Bitcoin Revolution](/news/article/bitcoin-revolution) is an automated Bitcoin trading system designed to improve the trading experience of investors with limited capital, time, and trading skills. The platform includes a robot that manages the whole trading process on behalf of the account user, automatically executing buys, holds, and sells with minimum input from the investor.

After registering on the platform, users must make an initial payment of at least £200.

Bitcoin Revolution is a built-in algorithm that claims to deliver more than 99% accuracy on all trades, allowing investors to earn up to 20% daily returns on their money.

## Ant McPartlin Bitcoin Scam?

The question is, did McPartlin endorse Bitcoin Revolution?

McPartlin has denied any support for a Bitcoin trading platform. He has claimed that he has no intention of investing in Bitcoin or its trading bots.

As we investigated, we found no direct or indirect postings on Ant's social media to indicate that he had adopted the trading platform.

McPartlin is one of many celebrities whose accounts have been phished by Bitcoin fraudsters.

An “audience seeker” storyline is always popular, especially when it involves renowned people. In this example, bogus news sites and gossip blogs have fueled media coverage of the entire event, primarily to gain click-through and registration commissions from the traders involved.

Fake trading sites were involved in advertisements and other media promotion of the supposed endorsement, causing naive investors to lose money.

Because neither McPartlin nor Bitcoin Revolution confirmed the endorsement story, it was assumed that a bunch of avaricious internet marketers staged the entire affair.

## Is Bitcoin Revolution a Ponzi Scheme?

This is a common question among cryptocurrency aficionados right now. Should I put my funds on the platform?
I say not. Unless you can verify the legitimacy of any trading platform for yourself, you should retain your money in your bank account.
 



Ant McPartlin Bitcoin Scam Explained

Whether you are an active crypto investor or simply an aficionado, the chances are that you have heard of the Bitcoin Rush scam, or at least the trading robot.

Basically, it's a trading bot that claims to increase average daily trading profit to $1,500. However, when we look around the internet, we can see all kinds of reviews. Many sites say it's legit, but there is a question about whether these media are paid for that.

That’s why we decided to consider both sides of the Bitcoin Rush scam story.

## What is [Bitcoin Rush](https://money-back.com/bitcoin-rush-scam/)?

First of all, Bitcoin Rush is not something that would invest on your behalf. It is basically a recruitment advert to get inexperienced traders to give their assets. This doesn't mean that they cannot earn profit. It does mean that there will be probable scammers nearby who will be waiting for the "fresh blood".

Still, it would be wrong to name the whole thing a scam since this is simple artificial intelligence we are talking about and there is no such thing as a reliable auto-trading AI. Auto-trading systems can be used as a help when the market is uncertain and volatility high.

Even though products like Bitcoin Rush or a similar bot dubbed Bitcoin Code claim to be completely legal and have terms and conditions and a privacy policy that seems totally legit – it is always good to read the small print. 
With its explanation at the page bottom, Bitcoin Rush basically confirms it breaches advertising codes in many countries, but since it is not from any country, it is not strictly illegal.

“Bitcoin Rush is a beginner-friendly [BTC](/coins/btc) auto-trading system. We have helped tens of thousands of our clients gain financial freedom through BTC trading. You could generate up to $750 daily by depositing as little as $250 with us. The daily return could quadruple within weeks of compounding your profits.”

Therefore, it is recommended that you try trading in demo mode first to learn how to leverage Bitcoin Rush to facilitate a live trading session and make a profit.

If you lose money, there are no chances of getting it back since Bitcoin Rush isn't the one who took it. Be aware that Bitcoin Rush does not exist as a company or service. It is only a creation sold by the affiliate networks to make people sign up with, mostly offshore-based, brokers.

Also, let’s not forget that the main characteristic of the crypto market is that it is decentralised and its transfers cannot be traced.

Yes, so-called recovery firms will offer their services to help you get your money back. But guess what – they also cost money as they will only seek recovery from your bank, and keep a portion of that.

Most banking and credit card companies offer that service, so this is something you can do yourself without the help of such "recovery firms". It's better not to bother.

Remember, affiliate marketers sometimes do fraudulent marketing for both legit and scam trading robots. That is why we recommend doing your own research before choosing any auto trading platform.


Bitcoin Rush Scam Explained

This may be news to Berkshire Hathaway (BRK)- the philosophies of Bitcoin and BRK are more similar than you think.

The Berkshire Hathaway (BRK) and Warren Buffett's trusted advisor and BRK vice chairman Charlie Munger frequently draw on Carl Gustav Jacob Jacobi's mental model to shed light on complicated issues. Bitcoin's success is largely due to philosophical and structural similarities with Berkshire Hathaway, which is the genuine public market parallel of bitcoin.

BRK's wholly-owned portfolio of firms, rather than Buffett's stock-picking in the public markets, is what makes it so fascinating. Many different industries are represented by BRK's 63 subsidiaries, which vary from insurance to energy to railroads to furniture and jewelry retailers to mobile home builders to private jet leasing companies and more.

However, despite the fact that Buffett did not intend to build a decentralized company, BTC's bold implementation of decentralization has provided the world with a transparent and self-policing global financial network.

Lawrence A. Cunningham's book "Margin Of Trust: The BRK Business Model" delves into Berkshire's Hathaway news and its relationship with the concept of trust. To avoid hostile takeovers, BRK does not use investment banks or financial intermediaries to purchase firms.

## Bitcoin and Berkshire Hathaway follow a philosophy that is similar

In the same way that Berkshire Hathaway and Bitcoin rely on the virtues of honesty and transparency to earn money, so does Berkshire Hathaway. The Global Financial Crisis spawned both BRK and Bitcoin.

[Berkshire Hathaway and Bitcoin's success](https://bitcoinmagazine.com/business/bitcoin-and-berkshire-hathaway-share-philosophy) can be attributed to a similar "management theory" known as "incentives". "Programmatic Proof of Work" incentives are used by BRK for both mining bitcoin and securing the network.

When he witnessed unaffiliated financial firms generating derivatives of Berkshire A shares to offer to small investors, Buffett created B shares of Berkshire stock. The stock market serves as a gauge of long-term value and alignment for him.

People all over the world have been moved to action by the BRK culture of evangelists, authors, podcasters, presenters, and HODLers. Buffett has been able to shape the company in the way he sees fit, rather than relying on the opinions of others. Bitcoin, according to Buffett, has no intrinsic value.

In contrast to Ric Edelman, who believes that traditional asset valuation methodologies should not be applied to digital assets, BRK and the way Warren Buffett has developed it has crucial lessons for bitcoin, including the idea of rethinking your ownership of equities as percentage ownership of real businesses, rather than just numbers on a screen.

As a way of inspiring confidence and grit in his shareholders, Warren Buffett writes letters to them in which he warns them against the use of leverage to boost returns.
Use leverage if Warren Buffett is looking back at you in the mirror. Guerin was an excellent capital allocator, but he was under pressure to generate money, so he sold his Berkshire shares to Buffett.

The most successful investors all agree that the key to investing success is choosing the correct investment vehicle and holding it for as long as possible so that gains can compound. Don't get too caught up in the price and behave with extreme caution when it comes to financing or leveraging your holding.

Using Invert BRK's astounding analogies to bitcoin, we can see the way to a similar valuation and how to survive the voyage to get there. For more developments on the crypto news go to [Latest Moni](/news)).



News to Berkshire Hathaway-BTC's Ideology's Similar

It can no longer be ignored, so now we must ask, 'what is the impact of cryptocurrency on society?'.
Bitcoin has inspired a variety of reactions since its inception in 2009. Some people consider [Bitcoin](/coins/btc) to be a ground-breaking breakthrough. Some say it is a passing blip on the radar; others believe it is here to stay.

What is beyond doubt is the impact of cryptocurrency on society, most notably Bitcoin.

It is time to ask what crypto will provide to our communities, whether it will improve administrative and financial tasks, and whether it could benefit humanity.

## What are the Advantages of Cryptocurrency?

Although a relatively new innovation, cryptocurrencies are, in my opinion, unquestionably here to stay.
That is largely due to the numerous advantages they offer. The impact of cryptocurrency on society can be positive, if you know how to tap into the benefits.

Not least is its ultra-secure, transparent infrastructure.

A further advantage to cryptocurrencies that is particularly relevant at the moment is the avoidance of inflation.
Because they are not tied to a particular currency or national economy, the value is determined by global demand and not national inflation.

When the supply of a cryptocurrency is limited - for instance, Bitcoin is capped - the amount available cannot spiral out of control.

## The Impact of Cryptocurrency on Society

The majority of cryptocurrencies use blockchain technology, and it is an innovation with significant potential benefits for society.

Here are just three examples of ways in which using crypto for everyday tasks can impact on society.

1.	Cryptocurrencies give you, and only you, control over your money: Traditional cash gives complete authority over your finances to central banks and the government. It isn't really "your money." If you trust your government, that's fantastic. But keep in mind that your bank account can be frozen anytime, denying you access to your funds. In the United States, for example, if you die without a legal will and run a corporation, the government has the right to all your assets.

2.	Simplified [Cross-Border Transaction](http://www.ruchelaw.com/cross-border-transactions/): You might think that in the digital age, businesses can sell to anyone, regardless of their location. However, obstacles remain. One of the most significant is the high cost of processing payments. Cryptocurrencies allow you to trade abroad without giving up a portion of your profit or overpricing your product, as well as avoiding transaction fees. The value of Bitcoin is the same everywhere, and the lack of intermediaries speeds up and lowers the cost of transactions.

3.	Eliminating Extreme Money-Printing: A government may be able to bail out debt or devalue its currency by printing more money. This is like bandaging a broken leg. It not only rarely solves the problem, but the harmful side effects might often outweigh the initial problem. The supply of most cryptocurrencies is finite. When all of those coins are circulating, there is no straightforward method for a central authority or the firm behind the blockchain to simply generate more coins or increase the supply.

## Conclusion

Even years after its release and development, cryptocurrency still has room for improvement and exciting advancements.

The risks are likely to decrease further as governments establish guidelines and ways to stabilise the product while retaining its unique appeal are found.

Indeed, there is little question that the impact of cryptocurrency on society will be significant.


The Impact of Cryptocurrency on Society

It's been a rough few days in the cryptocurrency world, with [BTC falling below $20,000](https://www.ibtimes.com/crypto-july-12-bitcoin-drops-below-20000-market-turns-red-3570356) and the market turning red.

After a 2.89 percent dip in BTC in the last 24 hours, the cryptocurrency market opened on a gloomy note on Tuesday. At 12:17 a.m. Eastern Time, one BTC stood at $19,958, according to data from CoinMarketCap (CMC).

## Ethereum falls 5.6%: Predicts a return of $2789.81 by the end of July

The second-largest cryptocurrency, Ether (ETH), fell 5.6% the previous day and was trading at $1,088 at 12:17 a.m. Eastern Time (ET). Despite the recent drop, the median estimate tool provided by CMC, in which 32,022 individuals participated, predicts that BTC will recapture $35,143.87 by the end of July. For Ether, the same feature, which received 11,849 votes, predicts a return of $2,789.81 by the end of July.

## BTC Expected to Grow

BTC is expected to grow to $24,648.70 by August 1st, according to WalletInvestor, while DigitalCoinPrice predicts that BTC will trade at $28,089.80 on average in August. According to BitcoinWisdom's annual estimate, BTC will conclude the year in the $27,989 range. Solana (SOL), Dogecoin (DOGE), Near Protocol (NEAR), and Cosmos (COS) were the largest losers today (ATOM). There was a 4.99% drop in these tokens, followed by 5.42 percent, 4.46 percent, and 5.01 percent.
 
These coins cost $33.77, $0.6242, $3.28, and $8.27 at 12:33 a.m. ET. Polygon (MATIC) went bullish with a 4% price increase in the same period, while Uniswap (UNI) suffered the most with a decline of over 9%. At 12:35 a.m., these tokens were worth $5.4 and $0.5816, respectively.

The Bitcoin crash continues, with the cryptocurrency falling below $20,000. Ethereum is also down, although not as much as BTC. The market is overall red, with many coins losing value. BTC is expected to grow in the future, but it remains to be seen how long the current Bitcoin crash will last.

For more  crypto coin and token news go to [Latest Moni](/news).


Bitcoin crash continues below $20,000

Have you heard about the [BTC Profit](https://btcprofit.com/) trading bot and wondered if you could make huge returns?
The idea that anyone can easily make money in the crypto space has led to the rise of crypto trading bots. 

With a crypto trading bot, crypto traders can begin earning from their crypto holdings easily, regardless of their expertise level.

Or so it is claimed. But are the bots legit?

This article reviews one popular crypto trading bot, BTC Profit, also referred to as Bitcoin Profit.

## What is BTC Profit?

This is an automated crypto trading bot built and designed to ease the struggle of crypto trading. The Bitcoin Profit bot uses an AI algorithm to identify trading opportunities in the crypto market and act on them on users’ behalf. It can automatically open and close trades on users’ trading accounts, eliminating the need for constant manual intervention from traders.

Due to automation, BTC Profit can trade 24/7 across more than a dozen cryptocurrencies. According to the crypto trading platform, around 85% of its trades close for a profit under normal market conditions. Users don't have to worry about service fees as the platform does not charge any.

Bitcoin Profit only requires users to deposit a minimum of $250 to start using it. It even eases the worry of people with a demo account. The demo account enables users to test the bot's capabilities before beginning to use deposited funds to trade.

## How does BTC Profit work?

Bitcoin Profit uses a sophisticated AI algorithm that has been trained on years’ worth of cryptocurrency market data to identify and execute crypto trades. The bot can easily monitor price changes and spot price patterns that are likely to precede a directional movement.

Once BTC Profit spots a pattern, it opens a trade on a user's behalf. It will then continue to monitor the development of the trade and exit when the signal fades or a profit target is reached. Funds and profits will then be returned to a user's account.

## Pros and cons of BTC Profit

Pros
•	24/7 automated crypto trading
•	No service fees
•	85% success rate, according to Bitcoin Profit

Cons
•	Requires a minimum deposit of $250

## Is Bitcoin Profit Legit or a Scam?

Over the years, many crypto trading bots and platforms have been revealed to be scams, which is why vigilance is necessary when looking to use a trading bot for crypto trading.

## Signs Bitcoin Profit might be a scam

•	85% success rate claim
Bitcoin Profit's 85% success rate claim is one clear red flag. The crypto market is one of the most volatile markets in existence. The market does not guarantee profits. Anyone, whatever technology they are using, can easily lose or earn money from the crypto market.

•	Negative reviews
Bitcoin Profit continues to get many negative reviews from reputable reviewers and users worldwide. The platform markets itself as a reputable crypto trading platform with plenty of positive reviews and testimonials to support its claims. However, many of the positive reviews have been exposed to be fake. Using fake testimonials and reviews is another reason to think twice about using the platform.

•	Fake endorsements
Bitcoin Profit has been accused of and exposed for using images and names of influential individuals for marketing purposes. Some big names that have been used to entice unknowing individuals into using the BTC Profit platform include Jim Davidson, Conor McGregor, Elon Musk, Gordon Ramsey, and Piers Morgan, among others.

## Final Thoughts

Bitcoin Profit easily appears as a legit crypto trading platform. The benefits that come with using the trading bot can easily entice anyone looking to venture into crypto trading with zero trading skills.

The platform promises to generate big rewards using small amounts of money. You only need a minimum of $250 to start using the platform and enjoy great rewards. It is also absolutely free to use as there are no service fees. The best part is that it enables anyone, regardless of their crypto trading expertise, to start earning from crypto trading.

The advantages are great.

However, the signs are there that the BTC Profit platform might equally be a raw deal. The 85% success rate claim, negative reviews, and use of fake endorsements all indicate the platform could be a scam.

Before you consider using this trading bot, do your research.


BTC Profit: Everything You Should Know

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