Bitcoin prices have held steady over the past 24 hours as the panic selling has eased off and the weak hands appear to have been flushed out. At the time of press, BTC was trading at a little over $45,400, up 5% since the same time yesterday. Its low during this correction was a brief...Read More
At the time of press, Bitcoin prices had lost 10% on the day and were trading at $43,300. Ironically this is very close to the price BTC hit after Tesla announced its $1.5 billion purchase of the asset in February. Bitcoin was trading at just over $50K at the beginning of the weekend, however, by...Read More
In early Sunday trading, BTC prices had fallen to their lowest levels for over 11 weeks, hitting $46,700 before a minor recovery. The last time Bitcoin dropped to these levels was at the end of February during the second major correction of this rally. A rebound off that bottom sent prices above $60K for the...Read More
This comes on the back of a large Bitcoin dip following the most recent news that came from Tesla and its decision to halt bitcoin payments for its products. A Slowdown of Enthusiasm The unbridled electric energy in the air surrounding Bitcoin briefly halted after major cryptocurrencies plunged over 20% shortly following Elon Musk’s announcement...Read More
The Central Bank of Iran (CBI) will allow banks, currency exchanges, and licensed miners to pay for imports using cryptocurrencies. According to a report from the Iranian site Financial Tribune, The CBI has issued a notification to banks and licensed exchanges about the new regulatory framework for crypto payments. The government will soon pass a...Read More
The South Korean-Japanese video game publisher, Nexon, announced earlier today the purchase of 1,717 bitcoins. The company justified the $100 million buy by trying to protect its shareholders’ value. Although it was founded in Seoul, South Korea, in 1994, Nexon moved its headquarters to Minato City, Toky, in 2005. It’s one of the largest Asian-based...Read More
The extremely volatile nature of cryptocurrencies is one of the major reasons why many traditional investors are still hesitant to join the industry. One minute, traders are basking in the euphoria of skyrocketing peaks, and the next they are scratching their heads wondering what happened. While there are no clear-cut indices to gouge crypto volatility,...Read More
On-chain analytics provider, Glassnode, has detailed the week’s activity for the Bitcoin network noting that a number of milestones and all-time highs have been hit for various metrics. It noted that the peaks in on-chain transaction volume and fees suggest that the recent correction has largely affected relatively newer entrants to the market, and strong...Read More
Bitcoin’s price could suffer more if the asset fails to reclaim $60,000 soon, said analysts from the US multinational banking giant JPMorgan Chase & Co. They compared Sunday’s market crash with similar developments in the past few months but argued BTC lacks sufficient momentum now. BTC’s Bull Run Coming to an End? Bitcoin and the...Read More
According to on-chain analytics provider Glassnode, it is customary for Bitcoin markets to flush out excess leverage and that is exactly what has happened over the past few days. A large number of traders increased their leverage exposure in anticipation of the Coinbase direct listing last week. This increase the risk of a long squeeze...Read More
Bitcoin dumped 12.5% in a matter of hours over the weekend sliding from $61,450 in late trading on Saturday to bottom out at $53,750 the following day according to Tradingview. Monday morning Asian trading has seen the asset recover somewhat but analysts are looking at what may have caused the cascade that resulted in $10...Read More
The enhanced volatility in the past day caused nearly $10 billion in liquidations in less than a day as bitcoin, and all altcoins fell hard. Naturally, over 90% of the liquidated amount came from long positions. CryptoPotato reported earlier today the adverse price developments in the cryptocurrency market. Bitcoin fell by more than $9,000 in...Read More
Ripple’s CTO, David Schwartz, has been gradually offloading his bitcoin position for years and is currently left with about 2% of his entire stack. During a recent Twitter threat, he outlined the significance of taking profits while blasting the narrative that investors can’t lose money if they don’t sell during a bear market. Ripple’s CTO...Read More
With bitcoin, ether, and more alternative coins reaching for the stars with new records in the past 24 hours, the cumulative market capitalization of all crypto assets surged to new record levels above $2.2 trillion. Interestingly, this means that the total crypto market cap exceeded that of the world’s most valuable company – Apple. Crypto...Read More
Investment giant Grayscale recently added another $1 billion worth of Bitcoin in almost 24 hours. Now, the firm nears the $50 billion mark with $46.1 billion in total assets under management (AUM) AUM Growing As reported by CryptoPotato recently, the investment firm increased its total AUM by more than $3 billion, shortly after expanding its crypto-trust offerings...Read More
Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in...Read More
Data from on-chain analytics provider Glassnode has reported that Bitcoin’s average hash rate hit a new all-time high this week, crossing a daily average of 178 exahashes per second for the first time in history. Bitinfocharts confirms the record high, reporting current hashrates at 176 EH/s. It topped 150 EH/s twice in February and has...Read More
The latest report by on-chain analysis provider Glassnode has unraveled more details on Bitcoin spending habits that could suggest that market sentiment is still bullish. Glassnode observed that held coins are beginning to mature, and continued outflows from exchanges demonstrate accumulation is not slowing down. #Bitcoin held above $50k last week as early signs of...Read More
A few months after launching Bitcoin custodial services in the US, the nation’s oldest bank, BNY Mellon, has doubled-down on its interest and involvement with the first-ever cryptocurrency. It has published a report attempting to determine bitcoin’s value by comparing BTC with gold and referring to the popular stock-to-flow model. BNY Mellow Evaluates BTC It...Read More
Visa is to become the first large payments network to use a stablecoin as a settlement currency. By partnering with the popular cryptocurrency exchange Crypto.com, the San Francisco-headquartered giant will offer a crypto settlement system for fiat transactions based on the Ethereum blockchain. According to the announcement from earlier today, Visa has joined forces with...Read More
Institutions taking profits and rising interest rates have pushed bitcoin down in the past week, said the Director of Research at Forbes Crypto – Steven Ehrlich. Simultaneously, he outlined Ethereum’s growing adoption among institutions and the role it plays behind DeFi and NFT as the main reasons why ETH has outperformed BTC last year and...Read More
Over 80% of participants in a recent poll answered that they believe bitcoin will be within a six-digit price territory by the end of the year. While only 16% said that BTC would be beneath $100,000, this only attests to the difference several months can make on the general sentiment in the crypto community. Bitcoin...Read More
Cryptocurrency markets are a sea of red during the morning’s Asian trading session as Bitcoin losses are felt heavier across the rest of the ecosystem. Around $150 billion has exited markets over the past 24 hours as the total market cap fell from an intraday high of $1.81 trillion to current levels of $1.66 trillion....Read More
Analytics from on-chain data provider Glassnode have revealed that smaller addresses holding 0.1 to 1 Bitcoin have surged since March 2020 when markets dumped. However, it expressed caution that the bull market could be entering its latter stages, as indicated by other on-chain metrics. #Bitcoin on-chain indicators suggest conditions are similar to the second half...Read More
On-chain analytics provider Santiment has revealed more interesting data that could potentially serve as an indicator for another leg up in price action for Bitcoin. Activity on the network in terms of daily addresses has surged since Q2, 2020, but the bull run did not really kick in until December of the same year. The...Read More
This was an important week in Bitcoin’s history. For the first time ever, the price reached an all-time high above $60,000. Regardless, it was an intense few days in terms of price action, and many altcoins also experienced serious volatility. It all started last weekend. On Saturday, the price started trending upwards and managed to...Read More
Renowned on-chain analyst and brainchild of the popular Bitcoin stock-to-flow model, ‘PlanB’, has posted an update to the model and some latest predictions on the current bull market. This is the fourth cycle since the asset’s inception in 2010 and one that could go much higher than current levels if history rhymes. Bitcoin has made...Read More
Since its March 14 peak of $61,000, Bitcoin has corrected by 12.3% to $53,500 during Asian trading on Tuesday, March 16, before recovering slightly to trade at current prices of $54,350 according to Tradingview.com. How Deep Will The Correction Go? The previous correction on Feb. 22 resulted in a pullback of 26% while the one...Read More
On this day, exactly one year ago, Bitcoin saw one of its worst trading sessions in history. The cryptocurrency lost around 50% of its value and tapped a low at around $3,800. That’s also true for every altcoin, as well as for the traditional financial markets. Nevertheless, it’s safe to say that the cryptocurrency market...Read More
It has been precisely a year since one of the worst trading days in the history of all financial markets. On March 12th, 2020, the day that became known as Black Thursday, every market was painted in dark red as the health and financial consequences of the COVID-19 pandemic became real to the entire world....Read More
