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Price change is the $BTC percentage change within the period:

The 24 hour volume for $BTC/USD on Bitfinex is $520,563,000. This volume weight is moderate to heavy when compared with Bitfinex daily trading levels for $BTC over the last month.

The total 24 hour volume for all reporting $BTC markets is $4,885,880,000.

The Bitfinex currency pair $BTC/USD is 10.65% of all $BTC traded in twenty-four hours. Today OKEx is the next closest competitor with 6.49%.

Top $BTC Pairs
Tap or click for detail:

bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of 7071.00. The bitcoin marketcap is $119,854,157,100 with a circulating supply of 16,950,100 $BTC. $BTC/USD is trading between a 24hr high of 7222.00 and a 24hr low of 6635.10 on a 24hr Bitfinex volume of $520,563,000. In moderate to heavy volume trading the weekly trend is down.

$4.88 billion bitcoin changed hands in twenty-four hours. The price rose slightly after reaching a low of $6533.00.

Reasons for Bearish Price
The losses have been attributed to social media bans on crypto, and assorted USA and other international regulatory gymnastics by organizations anxious to have a slice of the pie.

bitcoin and Capital Gains
The US IRS unbelievably mandates that traders who realize a capital gains with crypto will report such capital gains on their income tax. For example if you made money on BCH this may be a reportable capital gain.

However there is no corresponding investigative ability for capital gains on crypto addresses. bitcoin addresses are anonymous with no personal information associated with any bitcoin address. Personal information may be associated with exchange accounts. Offshore or international exchanges are outside of direct USA intercession, although reciprocal tax treaties may make personal information more accessible.

American Based Exchange Reports Traders to IRS
In mid March 2018 thirteen thousand crypto traders learned by email that their @Coinbase account records were to be placed in the hands of the USA Internal Revenue Service (IRS). Coinbase is an American based exchange. Learn more about crypto exchange jurisdiction.

In the government scramble to grab power and money, bitcoin has alternately been labelled a commodity, a property, a security, and indeed whatever appears to suit the fancy of the regulating agency. A cohesive crypto strategy is perhaps beyond the vision and capability of the USA national government.

Tracking Coins Difficult
Recently the NEM Foundation gave up the chase for $533 million in stolen $XEM. Tracking movements of the coins over time and addresses became increasingly difficult for even half a billion dollars.

Privacy coins such as DASH and Zcash further distance address holders.

One Year $BTC Chart

$BTC One Day Candles

Browse bitcoin Collection

Learn about the unique characteristics of $BTC. Browse our collection of Bitcoin Market Reports.

24 Hours of bitcoin
24 Hours of #bitcoin
5.46% price $7,137.11
vol $4,799,490,000
mktcap $120,975,085,066
16.95M #XBT 19:34
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Two Days Ago

Tap / click to enlarge:

bitcoin sank to a low of $6533 in the last twenty-four hours on a worldwide volume of $4.8 billion, and slightly recovered. bitcoin is up 6.03% in 24 hours, down -20.70% on the week and down -33.19% on the month on a last price of $7071.00.

Main Data Source

Bitfinex is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Bitfinex.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of bitcoin are fine data products from KittyBitcoin.com

Other sources are credited where used.

Market capitalization is the total $US dollar value of the bitcoin market calculated using the formula:

Request Network, a Y-Combinator backed project, has officially launched a financial applications technology that allows anyone to request and send cryptocurrency payments for goods, services, or conduct money transfers between friends, family and businesses.

Request Network acts like a management hub to handle invoices, with everything stored on an immutable blockchain ledger to allow for formal accounting and auditing. This opens cryptocurrency invoicing and payments to be used more easily in a business setting. The technology offers a wide range of use cases including but not limited to: sending payment requests, invoicing, auditing, accounting and fundraising. Network usage cost of the Request Network are between 0.1% – 0.005% with a maximum of 1.50$ per transaction, a fraction of banks and money transfer services.

The code is open source, fully auditable, and allows developers to build their own financial applications. This supports the mission of Request Network, making cryptocurrency payments and invoicing widely accessible and easy to use. Its open source design is intended to foster innovation as project teams capitalize upon the cryptocurrency payment ecosystem created by Request Network.

The foundation has also announced a $30 million grant program to fund the development of products with its technology. In addition to the Request Network Hub, developers are invited to submit applications to the Request Fund. The fund dispenses $30 million in grants over five years to spur the development of financial applications on top of the Request Network technology.

Vincent Rolland, Lead Developer at Request Network Foundation, stated: “We’re very excited to see the ways in which developers connect with the technology, and use it to make cryptocurrency payments mainstream, both B2B and B2C. Thanks to the Request Network Hub, developers will be able to interact with a community of builders to share knowledge and collaborate on projects, all of which will help to further strengthen the Request Network ecosystem.”

With the official launch of their technology, Request Network initially enables requests and payments in ether. Future upgrades allow payments in bitcoin, other cryptocurrencies and fiat currencies.

The Request Network Foundation has recently announced a partnership with PwC to shape and collectively develop the future of professional services such as auditing, taking a leading role in offering solutions to clients’ needs of onboarding blockchain to their business practices.

Welcome to bitcoin in Brief, a new feature debuting today. Breaking stories, crypto drama, exchange updates, and other talking points from the fast-paced cryptocurrency world can all be found in this daily roundup. bitcoin in Brief is for everyone who’s long on bitcoin but short on time.

Also read: Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own Company

bitcoin Bears Are Out in Force

The collective noun for a group of bears is a sleuth, and the bitcoin bears were certainly hunting in packs today. A number of outlets picked up on a research paper published in March that uses Metcalfe’s Law to predict that bitcoin’s value could fall by more than a third before the year is out. bitcoin price predictions are easy to come by, but this one has attracted attention not only due to its bearishness – which is in stark contrast to the usual tips for $50k BTC – but also the data to back it up. Swiss researchers write:

Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead.

Binance Loves Mondays

Binance seems to have a penchant for pushing out its news at the start of the week. Last Monday, the talk was of crypto companies such as Tron, Monaco, and Bigone exchange joining Binance in its new Maltese home. Today, news of Qlink integrating Binance’s token into its mobile dapp helped push BNB up 11% in an otherwise dreary day for the markets. With a top 20 token based on market capitalization and the number one exchange by trading volume, Binance can’t stop profiting right now.

Blockchain Wars Heat Up

As EOS eases closer to its mainnet launch, and the price of ethereum sinks lower, there’s been pressure on Vitalik Buterin to act. The ethereum founder has always been uninterested in price, which he sees as a distraction to developing the protocol, but his “meta April Fool’s” proposal to cap ETH’s total token issuance at 120 million could be interpreted as a measure to reassure jittery investors. (The fact that his blogpost plagiarized 20% of Tron’s was a nice touch, even if nobody got the joke).

In the past week, Buterin has also expressed scepticism for EOS’ governance model, while ethereum co-founder Vlad Zamfir asked whether his Twitter followers would support a hard fork to remove EOS tokens from the ETH protocol. All proposals floated on April 1st should be treated with extreme suspicion, but there are signs that the ethereum team won’t be allowing EOS to trample all over its lawn.

Centra Takes a Tumble

Following the news that two of Centra’s co-founders were arrested trying to leave the U.S. on April 1, its token took a nosedive today, shedding 25%. Centra was the Floyd Mayweather ICO the SEC had subpoenaed on February 9. One of the founders “made flight reservations to leave the country, but was arrested before he was able to board his flight” noted an SEC press release filed today.

Jimmy Song Sings bitcoin’s Praises

Jimmy Song’s longread on why bitcoin is different from other cryptos has been getting a lotta love. Sample quote: “bitcoin is the 7-day week and every other altcoin is a slight variation (Let’s have 4-day weeks! Let’s make the day 18 hours! Let’s rename the days to something different! Let’s vary week lengths according to the whims of a central authority!)” tl;dr: bitcoin is still king.

Catch the next instalment of bitcoin in Brief around the same time tomorrow.

What other bitcoin stories caught your attention today? Let us know in the comments section below.

Images courtesy of Shutterstock, and Coincodex.

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The post Bitcoin in Brief: Blockchain Wars and a Sleuth of Bears appeared first on Bitcoin News.