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Bitcoin Transferred $11 Trillion Since Its Launch Back In 2010

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Bitcoin transferred $11 trillion since its inception according to the recent compilation of the data that we have in our latest Bitcoin news.

The value of the network has since grown continuously with the occasional transfer of as much as $1 billion. The Bitcoin network has gone through thick and thin with transactions both growing in number and in value. Currently, the daily transactions fluctuate between $300 million and $1 billion with some of the data seeing $10 billion in transfers. The exchanges alone turn over as much as 2.9 million BTC even without switching addresses.

The activity on the Bitcoin network is usually much higher ahead of significant price moves but this time Bitcoin saw a growing transfer before the prices crash below the $7,500 level. During this time, the exchange turnover was a bit slower which was noticed before the big sell-off. The bitcoin network has also carried a lot of spam activity as we have seen in hindsight in the fall of 2017. The BTC transferred $11 billion happened in the course of nearly 11 years and all of the transactions were censorship-free and almost never tracked.

At one point, BTC transfers took hours to be included in a block and confirmed but other transactions were due to the load supplied by Veriblock during the testing stage which turned out to boost the transactions for months. At other times, the network carried few transactions with a very high economic value.

It is still highly unlikely to freeze, censor or blacklist the coins on the BTC network though, in theory, all BTC has a record of past transactions. However, the recent analysis of the network has allowed seeing connections between the wallets and potentially curb illegal activity. Despite the high number of transactions, BTC has only had a few episodes of almost total congestion with full blocks. Currently, the next block fee is $0.26 which is down from the high at $5. There are currently 9,333 active nodes in the bitcoin network meaning transactions are very difficult to censor. The BTC usage manages to keep the pace after the dramatic slowdown at the start of this year.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Bitcoin Retakes The $10,000 Level Again, What Is Next?

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Bitcoin retakes the $10,000 position again fortunately for the bulls since the weekend’s pullback leads to this level. However, the analysts wonder, what could be next for the benchmark cryptocurrency? Let’s try and find out in the following Bitcoin news today. During the Tuesday peak, the price of Bitcoin hit $10,300 but it failed to break past the level when it tested it for the second time. Regardless of the short-term resistance, the analysts have been impressed with the 8.4 percent rally from the $9,500 price level and they were some that thought that Bitcoin will set a new multi-month high in the upcoming weeks. As fast as Bitcoin dropped this weekend, it recovered at the same speed, and the cryptocurrency returned to the $10,100 after the peak of $10,300 which is currently up by more than 6% since the local bottom is $9,500. The recovery came quickly after the short-term sell trend had formed and led some of the investors to fear that a return of the low $9.000 is back and imminent. While it is too early to tell whether or not Bitcoin saw a reversal trend, the number of analysts believe that BTC is unlikely to return to lower lows after this strong spike in price away from the $9,500. The trader Inmortal Technique explained that Bitcoin’s bounce in the $9,500 region was similar to the one of the previous retracement in the ongoing uptrend. BTC followed the path that it took last time during the correction which could mean that it will push towards new highs past $10,500 in the upcoming days, possibly reaching the $11,000 region. From a technical analysis perspective, Bitcoin reached a positive signal during the market update showing a 50-day simple moving average and the 200-day simple moving average crossed. The long term indicators show that the golden cross indicates a bull market on the horizon and is strengthened by high trading volumes. In 2019, Bitcoin rallied by more than 200 percent from the time on the golden cross to the local top and the other golden cross in 2015 which preceded more than 6,000 percent move higher. Bitcoin rallied over the past two weeks but the gold did as well. This precious metal took a hammering for the bigger part of the decade, did pretty well over the past two years as Bitcoin retakes the higher position above it.
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US Government Auction: $40 Million Worth Of BTC To Be Sold Today

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The US Government Auction starts today where more than 4,000 BTC will be auctioned today and the procedure will happen with sealed bids where the bidder that bids the most gets the bitcoins. Let’s read more in the following Bitcoin news today, here at DC Forecasts. All of the bitcoins in the US Government Auction have been forfeited in different federal administrative and civil cases. The US Marshal Service will carry out the sealed bid auction for more than 4041 BTC later today and the amount at current rates reaches less than $40 million. According to the official release, the users that will participate have to deposit to participate in the auction set to $200,000 so the bitcoins will be sold in four different series and will be divided into several blocks. The bidders had to register with the USMS and those who are approved to take part have to use their confirmation from the USMS and all documentation received after the deadline will not be considered. The auction comes at a very convenient timing since Bitcoin’s price charted a new Golden Cross which means that the 50MA crossed above the 200MA which is a known significant bull flag. The last time that this happened, the price of the number one cryptocurrency surged to 165% in about 60 days. This means that the $40 million worth of Bitcoin today could reach up to $106 million in less than two months if the history repeats again. The rules of the auction are very simple. The bidder who offers the highest price will be the one that will receive all BTC. If there is more than one bid at the same rate, the first bid will win. If a default of a winning bidder happens, the next highest bidder will get the BTC. Back in 2014, the popular bitcoin supporter Tim Draper participated in a similar auction where more than 30,000 Bitcoins were sold which were previously seized in the Silk Road bust and he bought them all. It is still unclear how much money he paid for the amount but this stash is now probably worth more than $290 million.
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‘Golden Cross’ For BTC May Result In Gains To $26,000 By Halving

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The Bitcoin news now indicate that the most popular coin in the cryptocurrency ecosystem is again near the $10,000 mark and may rise to $26,000 in just two months thanks to what is known as the 'golden cross' which previously triggered 170% price gains. One analyst featured in the cryptonews talked about this on February 18 and said that this week saw Bitcoin's ascending 50-day moving average cross over its 200-day moving average. Known as a 'golden cross" this phenomenon is a rare occurrence for the cryptocurrency. Even though BTC shed almost $1,000 in recent days, Wareing is anything but bearish on the short-term profit potential.
“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized.
His comments were echoed by many other analysts. And as he added that at press time, levels of around $9,800 show that Bitcoin regained support in an overall bullish ascending price triangle, the sentiment was also echoed by another fellow Cointelegraph Markets analyst named Michael van de Poppe, who said:
“And so, we've bounced on the green area around $9,450-9,500. That was heavily needed. We could still see a period of relative calm movements, before we're either attacking the highs at $10,400 or the lows at $9,500.”
The past weekend left a significant gap between two Bitcoin futures trading sessions too. Historically, BTC has subsequently "filled" these gaps which is why many believe this will be a week when Bitcoin will visit $10,500. Still, the 'golden cross' is the biggest thing now and makes Wareing the third prominent Bitcoin figure to forecast major short-term gains this month only. Before this, we had Fundstrat's Tom Lee who said that Bitcoin could reach $27,000 by August, again because of the price beating out resistance from its 200-day moving average. After that, we saw Mike Novogratz commenting that BTC/USD might retest its all-time highs of $20,000 by the time of May's block reward halving.  Anyways, the price of the most dominant cryptocurrency today is stable at $9,755 and may soon prepare for a jump to $9,800 and then $10,000 which is the five-digit level many are hoping to see Bitcoin reclaim. The coming altcoin news show that ETH, XRP, BCH and BSV have all regained much from their losses and are stable today with new potential gains on the horizon.
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Moon Will Help Amazon Support Cryptocurrency Payments

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Meet Moon - a startup founded by three individuals which now acts as a platform that is apparently helping the leading eCommerce site in the world Amazon to accept payments using BTC. Yes, Moon will help Amazon support Bitcoin payments through an infrastructure that is linked with the Lighting Network, Bitcoin, Litecoin or Ether. The new payment system is not yet embraced by everyone. And while some eCommerce giants are looking to it as a real big thing, others rejected it on account of the fluctuating nature of digital currencies. If you are wondering how the startup works or how Moon will help Amazon support crypto payments, the procedure is simple. Once you log into your Amazon account, the application automatically recognizes you and gives options to pay with crypto funds. Information about the amount going to be paid via cryptocurrency is usually displayed before the actual transaction. The most interesting thing, however, is that the Moon startup does not charge a penny to the users for its service. Instead, it uses the prepaid value on Amazon so that while paying for the goods, the service is "automatically converting your crypto" and topping p your Amazon account to pay with your Amazon balance. The Moon startup is everywhere in the Amazon cryptocurrency news. Moon will help the facilitation of crypto payments in the entire Amazon network and it can handle payments in two different ways:
  1. Through any Bitcoin wallet which is working with the Lighting Network (faster than normal transactions)
  2. Through the crypto balance on your Coinbase account - this was a big thing in the Coinbase news as all holders of accounts there can pay in a matter of seconds (the apps are interlinked)
Moon will help with Amazon cryptocurrency payments and unify the network in a new way. This is a concrete evidence of the expansion of crypto culture in every latest platform. For now, the service is available to users in the US and Canada but in the time coming, it will probably meet customers in Europe too - enabling them to make the very best use of the browser extension. With more than 100 million users globally, Amazon will certainly benefit from Moon's abilities.  
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