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Vitalii Liubimov's Avatar
published in Blogs
Jun 05, 2018

Bitcoin Sees Rise in Open Source Contributors

Bitcoin’s emergence in the mainstream has more to do with its soaring prices and speculation about its potential than the nuts and bolts that make it function. The open-source code, which depends heavily on user contributions for maintenance and improvements, is vitally important to Bitcoin’s health, but coding has typically been handled by several dozen veterans. The times, however, may be changing. After struggling for years to recruit fresh contributors, 2018 has seen healthy growth in coders and code submissions – 21 were approved in March and April alone.

While there does not appear to be a single root cause for the increase, developers believe that sustained investment in educational programs has paid off in spades. Chaincode Labs, a New York City-based research and development group that explores cryptocurrencies and other peer-to-peer decentralized systems, created a residency program where top bitcoin developers volunteer their time to teach new trainees.

Jimmy Song, an experienced developer, founded the Programming Blockchain Workshop, which has trained 250 people of varying backgrounds in multiple U.S. locations since September 2017. "One of the things that surprised me is what kinds of people take my class. I expected it to be all developers," said Song. But the demographic makeup has been far more diverse than anticipated – a welcome change of pace for the veteran development community. “[This growth] is important because you need a diversity of views…you don't want it to just be a couple of people that do everything," said Song.

Diversity offers an antidote to long-simmering concerns about homogeneity among bitcoin developers. Too many people working the same way on the same projects means a lack of perspective, increased likelihood of bugs, and an ultimate drop in decision-making quality. Residency programs have created valuable face-to-face learning time for people of varying backgrounds, who are in turn contributing new, thoughtful ideas and perspectives. This stands to further decentralize the network and, as novices gain more experience, will alleviate current bottlenecks related to code approval – a rigorous process that only a few dozen people have the requisite experience to perform.

 

 

Onboarding new developers to a complex system containing billions of dollars in value remains complicated. Paid positions are still hard to come by, experienced developers remain rare, and the idiosyncratic review process can be intimidating. But this problem is universal to open-source projects, and the influx of new developers stand to turn the tide. Bitcoin’s continued vitality relies on new contributors, and it appears the gap between supply and demand is beginning to close.
 

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Related Ticker: BTC.X

BTC.X's RSI Indicator peaks and leaves overbought zone

The 10-day RSI Oscillator for BTC.X moved out of overbought territory on May 23, 2025. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 54 instances where the indicator moved out of the overbought zone. In of the 54 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BTC.X broke above its upper Bollinger Band on June 09, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for BTC.X entered a downward trend on June 11, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on June 08, 2025. You may want to consider a long position or call options on BTC.X as a result. In of 142 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on June 10, 2025. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 61 cases over the following month. The odds of a continued upward trend are .

The 50-day moving average for BTC.X moved above the 200-day moving average on May 22, 2025. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 437 cases, the price rose further within the following month. The odds of a continued upward trend are .

Market Cap

The average market capitalization across the group is 2.19T. The market cap for tickers in the group ranges from 2.19T to 2.19T. BTC.X holds the highest valuation in this group at 2.19T. The lowest valued company is BTC.X at 2.19T.

High and low price notable news

The average weekly price growth across all stocks in the group was 4%. For the same group, the average monthly price growth was 6%, and the average quarterly price growth was 7%. BTC.X experienced the highest price growth at 4%, while BTC.X experienced the biggest fall at 4%.

Volume

The average weekly volume growth across all stocks in the group was -100%. For the same stocks of the group, the average monthly volume growth was -100% and the average quarterly volume growth was -100%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
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