The price of Bitcoin took a step back after approaching USD 14,000 yesterday. However, it has remained at USD 13,000.
Bitcoin’s price took a step back, but has remained above the $13,000 mark. Both Bitcoin and the altcoins stopped their upward momentum for several days in a row and retreated. Both Bitcoin Bank platform and the altcoins stopped their upward momentum for several consecutive days and then retreated, indicating that this move is part of a price correction.
The Bitcoin price was USD 13,433 at the time of writing, according to our online crypto tool. This is an increasing variation of 2.59% in the last 24 hours.
However, Peter Schiff reacted to the last price action. Describing the biggest cryptomoney as a „bubble“. In a publication via his Twitter account.
„If you measure the size of asset bubbles based on the level of conviction that buyers have in their trading, the #Bitcoin bubble is the largest I’ve seen,“ he said.
Bitcoin rates have tripled
Bitcoin’s transaction fees (BTC) have almost tripled in three days, from $3.52 to $10.20 on average.
According to the data aggregator of the crypto market Glassnode, 22.25% of Bitcoin miners‘ income is currently made up of fees. And the other 77.75% comes from block rewards.
The share of tariff revenues is currently the highest since the plateau of the last historic peak in January 2018.
The latest increase follows a jump in Bitcoin’s average daily rates in the last few days. It’s jumping to double figures in dollar terms for one time only, except for the period between November 2017 and January 2018.
Although the share of mining revenues represented by the rates tripled in the last month for Bitcoin miners. The Ethereum (ETH) miners are still earning more fees.
Avanti unanimously wins BTC’s banking statute
Avanti Financial’s banking charter was unanimously approved by the Wyoming State Banking Board on Wednesday. Becoming the second newly licensed bank in the state in 2020 after Kraken Financial gained approval last month.
Avanti, like Kraken, now has some hurdles to overcome. How to raise more capital before it can be granted a certificate of authority to operate.
Avanti, based in Cheyenne, Wyoming, will now be able to take custody of Bitcoin and other crypto currencies, similar to what Coinbase does. While maintaining dollars deposited with the Federal Reserve, it streamlines the process by which cryptomontage companies that need to cover payroll and taxes can obtain traditional accounts.
The news comes on the heels of a series of high-profile milestones in the world of crypto-currency. Late last week, Bitcoin’s long-time skeptic, JPMorgan, published a note for investors that gave Bitcoin a „considerable“ advantage over gold. It was closely followed by the news that the bank had opened a new office dedicated to digital assets.
Last week, payment giant PayPal announced it would allow bitcoin purchases on its application, and competitor Square announced it has invested $50 million directly in bitcoins.
Peter Brandt considers a bullish terrain for Bitcoin
Bitcoin broke through its USD 12,000 resistance level last week, and the USD 13,000 figure appears to be a support level for the cryptomone currency. Analysts argue that Bitcoin could soon approach the $16,000 mark if it hits the $14,000 level.
Bitcoin traded above 13,850 yesterday for the first time since January 2018, the highest level since then. However, hours later, Bitcoin took a step back from the $13,000 mark.
But, trader Peter Brandt posted a bullish tweet from Bitcoin yesterday. Saying that the first kryptonie could see its highest monthly close yet
„There’s a chance that Bitcoin can record its highest monthly closing price ever. Just a few days and a few hundred dollars away. He tweets.