Bitcoin news august 2018

Here are some of the most significant Bitcoin news stories from August 2018:

  1. Bitcoin Price Plunges Below $6,000: The price of Bitcoin dropped to a low of $5,913 on August 14, marking a 15% decline in just two days. The sudden drop was attributed to a combination of factors, including increased regulatory scrutiny and a decline in trading volumes.
  2. SEC Delays Decision on Bitcoin ETF: The US Securities and Exchange Commission (SEC) announced on August 10 that it would delay its decision on the proposed Bitcoin ETF (exchange-traded fund) by the VanEck and SolidX companies. The ETF would have allowed investors to buy and sell Bitcoin on major stock exchanges.
  3. Bitcoin Cash Hard Fork: On August 1, Bitcoin Cash (BCH) underwent a hard fork, which resulted in the creation of a new cryptocurrency called Bitcoin SV (BSV). The fork was sparked by disagreements between the two main factions of the BCH community over the direction of the project.
  4. Cryptocurrency Market Cap Drops Below $300 Billion: The total market capitalization of all cryptocurrencies dropped to around $290 billion on August 15, marking a significant decline from its peak in January 2018.
  5. Bitmain IPO Rumors: There were rumors in August that Bitmain, the world's largest cryptocurrency mining company, was planning to go public with an initial public offering (IPO). However, the company later denied these rumors.
  6. Bitcoin's Energy Consumption: A study published in August estimated that the energy consumption of the Bitcoin network was equivalent to the energy consumption of a small country, such as Belgium or Switzerland.
  7. Cryptocurrency Regulation in the US: The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued guidance in August on the application of anti-money laundering (AML) and know-your-customer (KYC) regulations to cryptocurrency businesses.
  8. Bitcoin's Lightning Network: The Lightning Network, a scaling solution for Bitcoin, reached a milestone of 1,000 active nodes in August, marking a significant increase in adoption and usage.
  9. Cryptocurrency Adoption in Africa: There were reports in August of increased cryptocurrency adoption in Africa, particularly in countries such as Nigeria and South Africa, where mobile payments are common.
  10. Bitcoin's Hash Rate: The hash rate of the Bitcoin network, which measures the processing power of the network, dropped significantly in August due to a combination of factors, including a decline in mining profitability and a shortage of mining equipment.

These are just a few of the most significant Bitcoin news stories from August 2018. It was a tumultuous month for the cryptocurrency market, with prices dropping and regulatory uncertainty on the rise.