Skip to content
Independent ReserveGo to the home page

BTC – page 2

Market-update

Independent ReserveMarket update

BTC A$54K. ETH to US$20T market cap by 2030 - Ark Invest

Let’s face it: January was not a great month for the crypto markets, with the market cap for all cryptocurrencies plunging from almost AU$3.2 trillion down to AU$2.47T today. It's the worst start to a year since Crypto Winter began in 2018. There were only 11 green days this month and cryptocurrencies across the board lost double digits as prospective rate rises in the US spooked markets (here in Australia the RBA is expected to end the AU$4 billion a week bond buying program and open the door to interest rate rises after inflation reached the central bank's target for the first time since 2014). Bitcoin is down 19.5% on a month ago, and Ethereum is down 29%. The good news is that February has started with a bounce and BTC is up 2% in the past week to AU$54,385 (US$38,475) and ETH is up 7% to almost $3,800. Cardano lost 4%, Ripple was flat and Polkadot increased 4%. The Crypto Fear and Greed Index is at 20, which is still ‘Extreme Fear’ but heading in the right direction after bottoming out last week around 11.

How long does it take to mine bitcoin

Independent ReserveKnowledge base

How long does it take to mine Bitcoin?

Bitcoin is a decentralised cryptocurrency that, since its 2009 launch, has been adopted by retailers, service providers, and even some governments. There are currently 18,924,706.25 million bitcoins in existence, with only 2,075,293.8 left to mine; and these numbers are updated every day.

Market-update

Independent ReserveMarket update

BTC A$58K. NFTs generate US$11.9B in first ten days of 2022

Although Bitcoin managed to break above AU$60K (US$43K) a few times, at the time of writing it had pulled back to around AU$58,700 (US$42.3K) for a -2% finish to the week. Ethereum gained 1.5% this week and is up around AU$4,400 (US$3.2K) while Cardano surged on positive network metrics and announcements and is up significantly by 38%. XRP was flat, Polkadot (4.5%) and Dogecoin (17%) both saw more significant gains. The Crypto Fear and Greed Index is at 22, or Extreme Fear which is pretty much where it's been stuck so far in 2022.

Best time to buy bitcoin

Independent ReserveKnowledge base

Best time to buy Bitcoin

If you are interested in investing in Bitcoin but not sure when to take the plunge, this article will provide some insights into the various strategies that have emerged over the last decade of the cryptocurrency revolution.

Market-update

Independent ReserveMarket update

BTC A$64K. Bitcoin hash rate hits an all-time high

Bitcoin may have pulled back one third from its all-time high of AU$95.7K (US$68.9K) in November, but it’s still up by almost 50% from a year ago, beating out the S&P 500 which was up 27% in 2021. Bitcoin’s performance was better than 2019’s 75% drop but didn’t hit the heights of other annual gains since 2016, which ranged between 81% to 1390%. Bitcoin dipped to around AU$63,000 (US$46.2K) on New Year’s Day and is currently trading around AU$64,300 (US$46.2K) for a loss of 11% this week. A survey of 110K CoinMarketCap traders tips we’ll hit AU$73K (US$52.6K) by the end of the month. Ethereum was down 10%, Cardano (-15%), XRP (-13%) and Dogecoin (-11%). Synthetix turned a corner, up 11% this week. The total crypto market cap is currently just over AU$3 trillion. The Crypto Fear and Greed Index is at 29 or ‘Fear’.

Market-update

Independent ReserveMarket update

BTC A$66K. "Hard to be too bearish" - Three Arrows Capital

The Bitcoin price is around one third down from its all-time high price a little over a month ago. But while sentiment is bearish, on chain metrics remain strong and miners are holding on to their coins, with outflows halving in the last month and unspent supply about to hit a new ATH. Bitcoin spent most of the week trading between AU$64K and AU$69K (US$46K to $50K) and finished the week roughly where it began, around AU$66,000. Ethereum gained 1% and is trading around AU$5,550, Cardano was flat, XRP was up 9% and Dogecoin gained 3%. The Crypto Fear and Greed Index spent the week in the 'Fear' zone, but fell today down to 25 or Extreme Fear.

Market-update

Independent ReserveMarket update

BTC A$65K. Independent Reserve wins Digital Currency Exchange of the Year

Crypto markets are seeing a price correction with many altcoins down by double digits this week. As usual, there are plenty of potential contributing factors, with inflation hitting a 40 year high in the US potentially forcing the Federal Reserve to accelerate its tapering plan and Chinese real estate giant Evergrande being declared in restricted default after failing to repay overseas bond holders. Bitcoin has also dipped below the 200-day moving average, which is never a good sign and finishes the week down 10% to trade around AU$65,500 (US$46,800). Ethereum lost 16% and is trading just above AU$5,300 (US$3,800). Cardano (-16%), XRP (-8%) and Dogecoin (-14%) all lost ground. The Crypto Fear and Greed Index is at 28, or 'Fear'.

Market-update

Independent ReserveMarket update

BTC A$72K. Sydney Swans partners with Independent Reserve

After its big weekend plunge, Bitcoin has been trundling along mostly below AU$70K/US$50K until today when it poked its head above. It's still down 12.6% for the week and is trading at just above AU$72,100 (US$50.9K). Ethereum has performed considerably better and is now just 2.4% on this time last week to trade around AU$6,150. Everything else was down including Cardano (-10.7%), Ripple (-16.6%) and Dogecoin (-17.5%). The Crypto Fear and Greed Index is at 16, or Extreme Fear, the lowest reading since July.

Market-update

Independent ReserveMarket update

BTC A$80K. Markets recover. Microstrategy buys another 7,002 BTC

Crypto markets held a Black Friday sale when they tanked AU$280B (US$200B) late last week along with share markets on fears of a scary new variant from Omicron Persei 8. Crypto Twitter immediately flipped the switch to suicidal and the Crypto Fear and Greed Index plunged to Extreme Fear, even as an obscure 'Omicron' token gained 900% (before crashing of course). Markets have since recovered with Bitcoin finishing the week flat at just under AU$81,000 (US$57.8K). Ethereum's up 5% on seven days ago to just above AU$6,200 (US$4.4K) but Cardano fell 12%, Ripple lost 7%. And it wouldn't be a BTC price dip without news that Microstrategy had bought an additional 7,002 Bitcoin at an average price of AU$82,821 (US$59,187), bringing its total stash to 121,044 BTC. Quantum Economics founder Mati Greenspan warns the volatility likely isn't over just yet: "The over-exuberant recovery Bitcoin experienced once that fear subsided is of little consolation, as we can now see that the digital currency is clearly vulnerable to a stock market panic."

Market update

Independent ReserveMarket update

BTC A$77K. AUS Senator says crypto "not a fad"

After reaching new highs earlier in the month, crypto markets have pulled back across the board, with Bitcoin losing 14% on seven days ago to trade around AU$77,650 (US$56,500). Ethereum is trading around AU$5,650 (US$4,100) which is down 10.2% on seven days ago. Most other coins pulled back too: Cardano (-13%), Ripple (-13%) and Polkadot (-12.3%). Interestingly Dogecoin (-15.8%) was pushed out of the top ten by Avalanche which gained 42% this week. As you might expect sentiment took a dive from 72 last week (greed) down to 50 (neutral) this week according to the Crypto Fear and Greed Index.