This week brings both good and bad news, depending on where you look it from. For Metaverse aficionados, the week was quite great, but for the rest of the market – it was downright bleak. So, let’s start with the broader market. Bitcoin is down over 10% in the past seven days, and there’s no...Read More
After a good run over the past several weeks, bitcoin’s rally came to a screeching halt, at least for now. Here’s where the whales come in. In fact, one particular whale is actually keen on raking in more and more coins as price takes another breather. Following the cryptocurrency’s fall below the psychological support level...Read More
One of the largest BTC whales has bought more than 200 coins at $62,000 shortly after selling 1,500 tokens at $67,500. Today’s purchase comes amid the asset’s massive correction. As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the anonymous bitcoin whale has begun reaccumulating once again. Bought the dip a little early...Read More
Bloomberg recently found that investors are protecting themselves from fears of rising inflation by using Bitcoin. In a tweet, the company even called it “the best inflation hedge around” depending on how one looks at it. Bitcoin Beats Inflation After crunching the numbers, Bloomberg Opinion’s John Authers found that Bitcoin has achieved 99.996% deflation over...Read More
In its weekly on-chain report, Glassnode has stated that investor confidence is at a peak as price and on-chain metrics for Bitcoin continue to improve. It added that there had been continued strength in on-chain supply dynamics, and activity remains well below bull market highs, suggesting there is more room to grow. “Bitcoin investor conviction...Read More
Bitcoin’s price could add 60% of value in the next 30 days to close just shy of $100,000, predicted the analyst behind the popular stock-to-flow model, PlanB. He was spot on in regards to the September BTC close price and was agonizingly close in October. Bitcoin to Near $100K By November’s End? PlanB is among...Read More
The cryptocurrency market took a hit today as its capitalization lost around $150 billion in the past few hours. This also saw a little over $900 million worth of long and short positions liquidated. As we reported earlier today, bitcoin’s price tumbled below $60K and tested the support found at $58.3K. This sent the entire...Read More
The moment plenty of people in the cryptocurrency community have been waiting for quite some time is finally here. The ProShares Bitcoin Strategy ETF is live, trading on the New York Stock Exchange. The moment many have been waiting for is here and the ProShares Bitcoin Strategy futures-backed ETF, ticked BITO, is now live and...Read More
Capriole Investments founder Charles Edwards has been observing Bitcoin’s on-chain activity and metrics which can often provide signals for major market moves. On Oct. 18, he tweeted a chart that depicts the MVRV z-score which uses blockchain analysis to identify periods where Bitcoin is extremely over or undervalued relative to its “fair value.” MVRV Predicts...Read More
In an attempt to comply with local regulations, Binance has announced it will stop servicing OTC deals involving the yuan for Chinese users as of December 31st, 2021. Shortly after the statement, the price of BTC and most of the market dipped. In an October 13th post, Binance said it will cease servicing OTC trading...Read More
It’s been a green week all across crypto land as positive sentiment and big gains returned to the market. Leading the scene is Bitcoin, with an impressive surge of around 25%, once again tapping the mid-May highs. Just earlier today, Bitcoin reached a price of $56,000 – something that we haven’t seen since the middle...Read More
Institutions have resumed their appetite for bitcoin instead of gold, claimed strategists from the giant Wall Street bank JPMorgan Chase & Co. Consequently, they attributed the recent price surge to new multi-month highs to substantial purchases coming from large investors. Guess Who’s Back? The demand for bitcoin from institutions is a relatively new concept in...Read More
Over the past seven days, bitcoin’s price is up by roughly 23% according to data from CoinGecko. It’s a considerable advance in a relatively short amount of time, and the third-largest BTC whale has decided it’s time to take some profits. The third-largest Bitcoin address currently holds around 108,265 BTC according to Bitinfocharts. It appears, though,...Read More
Bitcoin’s price over the past couple of weeks has been on an absolute roller coaster, leaving many to wonder whether we’re still in a bull market, what’s going to happen next, and how to properly position themselves for the last quarter of the year. Amid these turbulent times, we sit down with prominent on-chain analyst...Read More
The popular whistleblower Edward Snowden has joined the list of people believing that the Chinese ban on Bitcoin will actually benefit the cryptocurrency. He also recently wrote about BTC’s price, which is roughly 10x higher than the last time he did. The Chinese Ban is Good for Bitcoin Although the world’s most populated nation has...Read More
Bitcoin’s price closed in September at a lower level than it did in August. While that may sound like a negative occurrence for BTC bulls, the popular cryptocurrency analyst PlanB actually saw this happening months ago and predicted the exact closing price. Furthermore, he provided even more favorable prices for the end of October, November,...Read More
Chris Vermeulen – Founder and CEO of Technical Traders LTD – opined that bitcoin’s USD value would increase to $90,000 in about a year. Nonetheless, its price might plunge to $16,000 on its way to the new all-time high record. How Does The Road to The Top Look Like? In a recent interview for Kitco,...Read More
The market suddenly turned red today following what seems to be another wave of regulatory efforts to crack down on cryptocurrencies in China. This left over $400 million liquidated in less than a day. As CryptoPotato reported, China continues with its efforts to further crack down on the entire cryptocurrency market. The country’s national bank issued a...Read More
The People’s Bank of China (PBoC) published a document reminding that digital assets are banned within the country and added that operating with exchanges will also be prohibited. As a result, BTC dumped by $3,000 in an hour. China’s negative stance on the cryptocurrency space has been wildly known for years, and the nation tends...Read More
The first nation to legally adopt bitcoin now owns 700 coins after a new purchase, updated the president of the country. This has become another “buy the dip” moment, as BTC’s price dropped to $45,000. El Salvador’s president – Nayib Bukele – took it to Twitter on September 20th to inform that the nation has...Read More
Cathie Wood has predicted that Bitcoin prices will rise tenfold to reach $500,000 in 5 years. The bold forecast came while the Ark Invest chief executive was speaking with CNBC anchor Andrew Ross Sorkin at the SALT fintech conference in New York on Sept. 13. She added that this prediction is dependent on companies and...Read More
Another Chinese province has decided to follow the example and halt cryptocurrency mining and trading. While this continues to be the ongoing trend coming from China this year, the price of bitcoin has not dumped this time, as it did during the previous set of adverse developments. One More Chinese Province Goes After Crypto The...Read More
The third-largest bitcoin wallet has been busy buying the dip. During the current market downturn, the whale entity added almost 500 BTC to its stash. The mysterious third-largest Bitcoin whale bought 490 BTC when it was exchanging hands at around $46,800 in a transaction with a face value of $23 million. WhaleAlert reported that it...Read More
The CEO of blockchain forensics firm Chainalysis is optimistic that the bitcoin price will rise above $100,000 before the end of 2021. $100k by December 2021 In a Bloomberg interview on Thursday (September 3rd, 2021), Michael Gronager, who is also the co-founder of cryptocurrency exchange Kraken, asserted that bitcoin and the cryptocurrency market, in general,...Read More
This week saw Bitcoin’s price surging past $50,000 on a few occasions, while altcoins have been charting double-digit gains all along. Let’s start with BTC. The primary cryptocurrency is up about 7% over the past seven days, and it’s currently sitting above the coveted $50K mark. However, it took it a few attempts to go...Read More
Kevin Wadsworth – co-founder of the technical analysis company Northstar & Badcharts – opined that the current cryptocurrency bull market would “conclude before the end of the year” and bitcoin would reach a price of around $100K. The top executive also stated that the primary digital asset’s USD value might exceed $1 million in 2025....Read More
The mysterious BTC whale, who was recently frequently sending lots of coins to Coinbase, has changed the strategy on the largest cryptocurrency. On-chain data shows that they have accumulated more than 500 bitcoins on Thursday and Friday. Bitcoin Whale Back to Buying CryptoPotato has previously reported some of this particular whale’s behavior – whose Bitcoin...Read More
Australian detectives from the Criminal Proceeds Squad have seized a record-breaking haul of bitcoin worth nearly A$8.5 million (more than $6 million) in Victoria. Local media reported Friday that the seizure was the largest amount of cryptocurrency ever confiscated by police in Australia and was part of an investigation into online drug trafficking on the...Read More
On-chain analytics provider, Glassnode, has reported that Bitcoin exchange flows have returned to the dominance of outflows through August as investors withdraw the digital asset. It added that the market has transitioned through a number of phases of exchange flow dominance over the last year. The previous outflow dominance was last seen in late 2020,...Read More
According to ‘PlanB’, the brainchild behind the highly debated Bitcoin stock-to-flow model, the bull market is not over yet. In a tweet on August 18, the analyst posed an update of the model showing that target white line and on-chain pricing signals indicate that we are still in the middle of this cycle. The target...Read More
