On-chain analytics provider, Glassnode, has revealed that there is solid support at the $47,000 level for Bitcoin. It came to this conclusion in its latest ‘Week on Chain’ report using analysis from chart guru Willy Woo and data scientist Rafael Schultze-Kraft (@n3ocortex). It added that Woo noted a significant volume of BTC was transacted on-chain...Read More
This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general. As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that...Read More
With bitcoin currently enjoying a near 70% YTD increase, bullish predictions see the asset topping into a six or even seven-digit territory in the following decade. These projections came recently from Kraken’s CEO, Jesse Powell, and the Managing Director of Magnetic, William Quigley. Bitcoin to $150K in the Next Year Founded in 2010, Magnetic is...Read More
Analyzing Bitcoin HODL Waves from previous bull runs as led crypto YouTuber and analyst Lark Davis to the conclusion that this cycle is still in its infancy. He added that we are just now past the first major price wave, “get ready for wave 2”. This #bitcoin bull run has barely even started yet! We...Read More
Popular venture capitalist and Bitcoin bull Timothy “Tim” Draper predicted that major online streaming platform Netflix could be the next company to join the bitcoin buying bandwagon. Next Bitcoin Investor Could Be Netflix Speaking in a recent episode of the Unstoppable Podcast, Tim Draper stated that Netflix could be the next in line to add...Read More
What started out as a normal trading day for some PDAX customers led to a favorable turn of fortune, or so it seemed. Their euphoria may have been short-lived by a harsh reality check as the Philippine-based exchange prepares to take legal actions. Philippine Digital Asset Exchange (PDAX) suffered a flaw that led to bitcoin...Read More
The head of the Bank of Korea, Lee Ju-yeol, said that Bitcoin and other major cryptocurrencies lack intrinsic value. However, he believes that all assets will continue to experience significant price fluctuations. Price Surge Because of Pro-BTC Institutional Investors? The chief of the Bank of Korea said cryptocurrencies, including Bitcoin, do not possess inherent value....Read More
According to Tradingview citing Coinbase prices, BTC crashed to around $46,800 before bouncing back over $50k again during Tuesday morning’s Asian trading session. The move wiped out over $9,000 in a couple of hours as a cascade of leveraged positions was liquidated on exchanges such as Kraken. Today’s market crash is brought to you by...Read More
JPMorgan strategists have supported the narrative that Bitcoin is in a liquidity crisis. However, instead of highlighting it as a potential catalyst for further price increases, they warned that the asset could experience a sharp price drop just as quickly. The primary cryptocurrency reached yet another record during the weekend with a new all-time high...Read More
Although Bitcoin is performing remarkably well, it is not all praise in the market world. Take Will Hobbs —chief investment officer at Barclays Wealth & Investments— as an example. He is clearly not convinced that Bitcoin is all that its proponents claim. Speaking to Markets Insider, Hobbs said that his company’s investment strategy doesn’t involve...Read More
JPMorgan Chase & Co strategists have warned that BTC’s price could be in bubble territory as it’s significantly higher than their estimated fair value. Furthermore, the analysts believe that bitcoin, and other cryptocurrencies, have failed to serve as a hedge to equities. JPM’s Swinging BTC Opinion After being somewhat positive on BTC for months, claiming...Read More
The recent boom in institutional interest in Bitcoin and cryptocurrencies might be a fresh sign that the market needs crypto regulations. SEC Commissioner Hester Peirce pointed out that the wide range of investors would also improve price formation. Institutional Interest as the Long-Awaited Sign for Crypto Regulations US Securities and Exchange Commission (SEC) commissioner Hester...Read More
A bitcoin investment worth $1,200 following the first stimulus checks sent by the US government in April 2020 would have skyrocketed by more than 600% until today to over $8,500. Although this is a spectacular growth for less than a year, the same investment put in Ether would have presented an even better ROI of...Read More
Speaking publically, Suarez thanked the city of Miami commissioners for supporting his resolution to procure a vendor to be able to offer employees the option to receive a portion of their salaries in Bitcoin. He added this allows our residents to pay for fees in Bitcoin and would also allow the city manager to cooperate...Read More
With its massive $1.5 billion purchase of bitcoin, the electric vehicle giant Tesla has inadvertently helped the cryptocurrency to surpassed it in terms of market capitalization. With BTC’s price skyrocketing to new highs and its market cap following, bitcoin is now ranked as the 7th largest asset. Bitcoin Surpasses Tesla For The 7th Spot Elon...Read More
Recent research by on-chain analytics provider Glassnode has revealed that Bitcoin’s liquid supply is continuing to decrease as investors progressively acquire and hodl the asset for the long term. The findings indicate that there is currently around 78% of issued Bitcoin are either lost or being hodled. It added that this leaves less than 4...Read More
Following the news about Tesla’s billion-dollar investment in bitcoin, analysts reveal that the Elon Musk-led company invested around 15% of its net cash into the flagship cryptocurrency. As reported by CryptoPotato earlier today, Tesla made headlines across the crypto verse after it invested $1.5 billion into bitcoin, as revealed in a 10k form filing with...Read More
Bitcoin’s price exploded in the past hour following an announcement from the electric vehicle giant Tesla that it had purchased $1.5 billion of the primary cryptocurrency in January. However, the massive volatility and perhaps growing interest have caused technical difficulties for the Malta-based exchange Binance. CryptoPotato reported earlier today that Elon Musk’s Tesla had allocated...Read More
In a massive turn of events for the entire Bitcoin community, Elon Musk’s Tesla has filed with the SEC, revealing that the company has bought a whopping $1.5 billion in Bitcoin this January. The price of Bitcoin has surged to a new all-time high above $42,000 as an SEC filing revealed that Tesla has bought...Read More
New statistics from analytics provider Glassnode suggests that the number of Bitcoin whales has increased by more than 200 since the start of 2021. It classifies a ‘whale’ as an account that is holding over a thousand coins which at current prices would be valued at over $37 million. The number of #Bitcoin whales (entities...Read More
A ratio that measures the amount of Bitcoin compared to stablecoins has fallen back to levels usually indicative of bullish buying momentum. On-chain analytics provider Glassnode noted the ratio in its latest report stating that the Bitcoin Stablecoin Supply Ratio (SSR) has been declining in 2021 as more stablecoins are minted. When the SSR is...Read More
Just a few days after shocking the world by updating his Twitter bio to include only “Bitcoin,” Tesla’s Elon Musk has doubled-down on his support on the cryptocurrency. During a recent speech, Musk said that BTC is on the brink of a broader adoption from traditional financial representatives. According to a Reuters report, Musk showed...Read More
Bitcoin has to prove itself in order to become a reliable store of value. BlackRock CEO and founder Larry Fink said that the crypto asset might see a bright future, but firstly it has to endure and prove itself. Bitcoin is Still Untested During a recent interview, BlackRock founder and CEO Larry Fink expressed his...Read More
The world’s richest man, Elon Musk, has put Bitcoin as the only word in his Twitter bio. As a result, the price for bitcoin skyrocketed. Elon Musk, the CEO of Tesla has put Bitcoin as the only word in his Twitter bio. As a result, the price for the cryptocurrency has skyrocketed above $34K gaining...Read More
Guggenheim Partners CIO Scott Minerd has shared another warning of possible Bitcoin declines. The Wall Street executive predicted a massive correction, dragging the primary cryptocurrency down to $20K. He pointing out that institutional interest is not enough to stabilize BTC above $30K. Institutional Demand is Not Enough Institutional interest towards Bitcoin will not be enough...Read More
The “Bitcoin is dead” narrative has received the support of many naysayers and doubters over the years, especially in times when the cryptocurrency’s price has fallen sharply. So far, the hundreds of such assumptions have turned out to be wrong, and recent statistics showed that the number of doubters dropped significantly in 2020, as the...Read More
Despite maintaining long-term bullish views on bitcoin, Guggenheim Partner’s Chief Investment Officer Scott Miner believes that the asset will not surpass its early 2021 top of $42,000 again. As such, he doubled-down on his short-term bearish perspective, saying that BTC could drop as low as $20,000. Is Bitcoin Heading For $20K? It’s safe to say...Read More
A survey compiled by the multinational investment giant Deutsche Bank concluded that more than half of investors believe bitcoin and US tech stocks to be the biggest market bubbles. Consequently, the participants, most of whom are professional investors, predicted subsequent corrections. Bitcoin Is The Biggest Market Bubble? The primary cryptocurrency has been on a tear...Read More
UK’s National Health Service is planning the implementation of an Internet of Things project to build and manage COVID-19 vaccine provisions. The solution will use a pubic distributed ledger network – Hedera Hashgraph. Monitoring COVID-19 Vaccines Supplies Using DLT According to an official announcement, the UK’s National Health Service (NHS) will aim to digitally monitor its...Read More
Trading above $35,000, Bitcoin continues to pass milestone after milestone as reports show that the cryptocurrency received the most capital inflow this month compared to tech stocks and traditional investments. Long Bitcoin Wins Most Crowded Trade A recent survey conducted by the Bank of America on fund managers with over $500 billion in AUM reveals...Read More
