We have prepared an overview of how Bitcoin (BTC) lived in the last 24 hours; a brief overview of interesting recent news that may have affected its price (or may affect it in the future), and helpful insights from Crypto Twitter.
Bitcoin - price
According to CryptoCompare As you can see in the price chart above, over the past 24 hours, the price of Bitcoin has mainly ranged from 8 150 to 8300 dollars.
Cryptanalyst / trader Josh Reiger says that Bollinger Bands suggest that the following volatile move may occur in the near future:
Bbands pinching here, could only be a matter of days until the next volatile move pic.twitter.com/9qOk8LvzTb
- Josh Rager 📈 (@Josh_Rager) October 21, 2019
Bitcoin Futures
Although trade in institutional BTC products fell in September, as described in a recently published CryptoCompare Exchange Review September 2019 Report , "CME long institutional accounts are rising again in October," according to crypto data analytics launch Skew. :
Long positions held by institutional accounts at the CME have been rising again in October.
For reference, institutions include pension funds, endowments, insurance companies, mutual funds & portfolio / investment managers whose clients are predominantly institutional. pic.twitter.com/96N2XZwo9e
— skew (@skew_markets) October 20, 2019
Halving
As you probably already know, once every 210 000 blocks (approximately every four years) an event occurs- halving (when the reward for Mining blocks are halved, so miners get 50% less BTC to verify transactions); these Bitcoin halving events will continue until the maximum amount of 21 million bitcoins is minted.
Well, the next bitcoin event will be around May 14, 2020; this is when the reward for mining a block will decrease from 12,5 BTC to 6,25 BTC.
Alistair Milne, co-founder and chief investment officer (CIO) of cryptocurrency hedge fund Altana Digital Currency Fund (ADCF), tried yesterday to explain that halving the block reward would generate interest from BTC buyers and pressure on sellers.
To those that think Bitcoin's inflationary schedule is less effective with time ...
At current values (~ $ 8200), 2020's halving will remove $ 51.7million / week of newly mined Bitcoin from the sell-side https://t.co/Sk1ueDK8QX
— Alistair Milne (@alistairmilne) October 21, 2019
Offline private key storage
Yesterday, the British company Sword Ltd announced about the official launch Cryptosteel capsule , 100% stainless steel devices (shockproof, waterproof, acidproof and fireproof up to 1400C / 2500F) for offline storage of valuable data such as private keys and passwords.
Cryptosteel Capsule is from 89 to 329 euros depending on the option ordered.
Jameson Lopp, Casa CTO, received one of these gadgets at the Lightning Conference in Berlin last weekend and put it in his carry-on bag for his flight home to the United States. Unfortunately, the airport security staff in Germany were not overly impressed:
In hindsight it was a bad idea to pack this private key backup device that is essentially a sealed steel pipe in my carry-on. Not the first time a gift received at a Bitcoin conference has caused me grief at the airport!
- Jameson Lopp (@lopp) October 21, 2019