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
The initiative of international companies pouring funds into bitcoin has another representative in the face of the Israeli asset manager Altshuler Shaham. The company has allocated $100 million in the primary cryptocurrency through the Grayscale Bitcoin Trust in the second half of 2020. Israeli Asset Manager Puts $100M in BTC Founded in 1990, Altshuler Shaham...Read More
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
