Crypto Asset Firm Amun Launches Inverse Bitcoin ETP
Digital asset issuer Amun is launching a new product for bitcoin bears on the Swiss Stock Exchange.
Bitcoin is a cryptocurrency which isn’t managed by a bank or agency but in which transactions are recorded in the blockchain that is public and contains records of each and every transaction that takes place. The cryptocurrency is traded by individuals with cryptographic keys that act as wallets. Bitcoin was first invented in 2009 by an anonymous founder known as Satoshi Nakamoto. Bitcoins are moved in blocks every 10 minutes on a decentralized ledger that connects blocks into a coherent chain dating back to the first genesis block. It was originally described as a peer-to-peer electronic cash but the technology has evolved to emphasize being a settlement layer rather than a payment network. This has left integrated second layer solutions, like Lightning Network, to prioritize that use case. It has remained the largest cryptocurrency by market cap.Bitcoin 101
Bitcoin's price pullback has gathered steam in the last 24 hours, erasing a major portion of the cryptocurrency's recent gains.
BlockFi recently announced it would make changes to the interest they pay for bitcoin and ether deposits.
Middle Eastern elites at the World Economic Forum are highly skeptical of bitcoin, but there are whispers about its potential for cross-border settlements in the energy sector.
A privacy and scalability upgrade that could turn out to be one of bitcoin's largest to date has passed a couple of milestones that were little noticed outside technical circles.
Bitcoin's three-day range play has ended with a bear victory. Now prices could visit deeper support at $8,200.