Bitcoin price – live: Crypto flashing ‘big buy signal’ for only fifth time in its history

Coinbase boss Brian Armstrong wants his company to “build the crypto app store” and create a platform for decentralised applications (dApps) similar to Apple’s App Store.

“Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps,” he wrote in a blog post.

“We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months. We’ll work to give our users easy access to all of the from the main Coinbase product.”

El Savador has begun installing 1,500 bitcoin ATMs in the country to provide citizens with easy access to the cryptocurrency for when it becomes legal tender.

The roll-out is being led by the firm Athena Bitcoin ahead of the world-first Bitcoin Law taking effect later this year.

Athena Bitcoin director Matias Goldenhörn told Reuters that El Salvador’s President Nayib Bukele “presented us with a tough challenge of 1,500 ATMs. We will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable.”

By the end of today bitcoin will have likely seen the worst second quarter in its history.

CoinDesk’s Omkar Godbole noted that a price drop of nearly 41 per cent between April and June in 2021 is more than five-times worse than the previous worst second quarter in 2018.

Bitcoin started April at just below $60,000, before rising to an all-time high above $64,000 a couple of weeks later. Unless it sees a major jump in the next few hours, it will end June below $40,000.

Bitcoin has once again returned above $35,000, briefly reaching above $36,000 before settling back down on Wednesday morning.

The price rally means btc is now up more than 15 per cent since the weekend. It also means the cryptocurrency is ending the month at the exact midpoint of the $10k range it has been trading in all month.

We’ll be bringing some price predictions and analysis as we head into July, which some experts are already calling a make-or-break month for bitcoin.

A controversial bitcoin advocate has reportedly died, leaving behind a crypto fortune in excess of $2 billion.

Mircea Popescu drowned in Costa Rica, according to local media reports, at the age of just 41. As the founder of bitcoin securities exchange MPEx in 2012, he was one of bitcoin’s early adopters.

He was once described as “the father of bitcoin toxicity”, but former CoinDesk editor-in-chief Pete Rizzo described him as “one of bitcoin’s most vilified figures [but] inarguably one of its greatest philosophers.”

You can read the full story here:

A new startup is hoping to accelerate cryptocurrency adoption by offering it to everyone on Earth – with one big catch.

Worldcoin, founded by Silicon Valley heavyweight Sam Altman, wants to scan people’s eyeballs in exchange for cryptocurrency in an effort to spread awareness of crypto and universal basic income.

“I’ve been very interested in things like universal basic income and what’s going to happen to global wealth redistribution and how we can do that better,” Altman told Bloomberg. “Is there a way we can use technology to do that at global scale?”

The company is also backed by famed early tech investor Andreessen Horowitz, as well as the venture capital arm of Coinbase. The idea is that by scanning someone’s eye they will have a unique identifier to ensure even distribution of the coin.

Ahead of Elon Musk’s plan to send a “literal dogecoin to the literal moon”, an eager YouTuber has sent one into the stratosphere using a weather balloon.

Reid Williamson released a video detailing the effort yesterday, just in time for the technology billionaire’s 50th birthday.

“Elon, if you need any launch tips for getting Doge to the moon my DMs are always open,” Williamson wrote.

The stunt involved a second-hand GPS tracker, two weather balloons, a parachute, a canister of helium, and a dogecoin replica.

You can see the video and read the full story here.

Bitcoin is “flashing a big buy signal”, according to one indicator.

The Puell Multiple graph, which charts mining profitability, has entered the green zone for the first time since March 2020. At the time a flash crash had pushed the cryptocurrency’s price below $5,000 – and a subsequent rally took it to a new all-time high before the end of the year.

“Puell Multiple flashing a big buy signal for #bitcoin,” tweeted prominent crypto investor Lark Davis.

“Only the 5th time ever! Last 4 times were spot on, will this one be too?”

The price of dogecoin is back above $0.25 after a proposal for a major new update to its network was published.

The Fee Policy change proposal would see the cost of a standard dogecoin transaction, which currently stands at 1 DOGE, reduce by 100-times.

“Since inception, the goal of dogecoin has been to be accessible to everyone, but with current exchange rates, transacting DOGE is kept artificially higher than instated on bitcoin’s and litecoin’s chains,” it states.

The proposal has so far received broad support from the dogecoin community, including from Tesla boss and crypto advocate Elon Musk. The tech billionaire said on Monday that it was “important to support” the change.

You can read the full story here:

Bitcoin appears to have entered a momentary period of stability, at least relatively speaking.

It has briefly peaked above $40,000 and dipped below $30,000 over the last six weeks, but it has mostly spent its time trading within this $10k price range.

Analysts remain divided over which direction bitcoin’s price will head in the second half of 2021, with patterns from previous bull runs in 2013 and 2017 suggesting it could go either way.

One analyst who believes there will be new record highs this year is the pseudonymous Dutch trader PlanB. His Stock-to-flow model allows for short term volatility, while also projecting major gains over the long term. Are we just seeing a dip before a new all-time high?