Cryptocurrency(c) 2021 BloombergNick Baker, BloombergUpdated: October 22, 2021 9:31 am IST
Blockchain Is Not What You Think It Is: Cesare Fracassi of the University of Texas Blockchain Initiative explains the theory and science underpinning blockchain and how it's being used. Contact Us Sign Up for News & Updates Twitter Facebook LinkedIn Texas State Securities Board Compact with Texans Public Information Requests HB 12 Information Customer Service Report Registration Provisions for Military Texas Energy Conservation Plan Website Resources Accessibility & Site Policies Disclaimer Report A Website Problem Download Adobe Acrobat Reader (for PDFs) Site Map Texas Links Texas.gov Texas Veterans Portal Texas Homeland Security Where the Money Goes Trail Search
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BTC Price Action: According to CoinMarketCap data, Bitcoin is trading at $63,559.44 as of Thursday afternoon after seeing its price fall by about 4.74% over the last 24 hours.
Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
We set the stage for our formal econometric analysis by providing some graphical evidence. For example, in Figure 1, we see a close mapping of the prices of Bitcoin and Ethereum with their respective computing power values. Moreover, in Figure 2, we observe an even stronger mapping of the prices of Bitcoin and Ethereum with their respective network values. Interestingly, these graphs also show that when prices significantly exceed the trend in computing power or network (as was the case in late 2017), prices eventually fall and trace the trend in fundamentals. The convergence of prices to the trend with fundamentals suggests that fundamentals are the ultimate, long-run determinants of prices.
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One finding based on the CivicScience study showed that around 11% said they or someone they know have resigned from their jobs due to crypto trading.
Squid, which marketed itself as a "play-to-earn cryptocurrency", had seen its price soar in recent days - surging by thousands of per cent.
In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
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Notes: This figure plots weekly averages of log price and log computing power (log hashrate) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both time series by subtracting their mean and dividing by the standard deviation.
SAN SALVADOR, El Salvador (AP) — El Salvador’s bitcoin-pushing president apparently changed his Twitter profile description to “dictator” Monday, in what might be an ironic comment on last week’s protests against him.