“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and Wall Street stalwarts. He stated why the idea “that a crypto asset could be a store of value” is not “crazy.” Old Schoolers say that...Read More
Unlike the 2017-rally, Bitcoin currently indicates strong fundamentals. The growth has been such, over the course of 2020 and the beginning of 2021, that the digital asset has experienced massive capital injection. It is difficult to identify the source at times, as both retail and institutional investments come in a flurry. However, the growth of...Read More
Just a few days ago we saw Elon Musk, the CEO of Tesla add Bitcoin to his Twitter profile, which caused a sudden pump in the value of the digital asset. As the market stabilizes from the surge, Musk has extended his support to Bitcoin and stated that it was on the verge of acceptance...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
Faced with growing currency devaluation, institutions are adopting bitcoin as a store of value. Bridgewater Associates’ founder, Ray Dalio, has set aside his skepticism for bitcoin to explore this possibility. Dalio Applauds Bitcoin In a recent newsletter, he expressed his admiration for Bitcoin, stating that its longevity is “an amazing accomplishment.” “To have invented a...Read More
Apart from the on-chain factors that drive Bitcoin’s bull run, a few external indicators that precede every bull run have made the headlines yet again such as a bill on a probable cryptocurrency ban in India, the Chinese new year FUD, exchange outages like Coinbase and Binance, and altcoin price rallies, etc. Once the sell-off...Read More
Bitcoin is currently trading at $33831 after a highly volatile and eventful week. Before the weekend, Elon Musk’s tweet led to a massive surge in price, bringing it closer to $40000 level. However, there is consistent resistance and the price dropped to $33000 before it would hit the ATH. There were several metrics hinting at...Read More
After the market frenzy observed a couple of days back, the Bitcoin market has been preparing for another rally. This bullish sentiment was rising in the market, as the stablecoins in the exchanges hit an all-time high. According to the data provider CryptoQuant, the stablecoin holdings on exchanges have reached a peak of $4.98 billion...Read More
A lot happened over the past week, as Bitcoin experienced one of its most volatile periods in terms of price and futures trading. While there weren’t any major dips or rallies, the constant change of sentiment may have tested the trader’s resolve and a particular incident reminded the crowd about Bitcoin’s reactive nature. 22nd-29th January:...Read More
Popular blockchain company, Blockstream has purchased $25 million worth of MicroBT’s WhatsMiner M30s Bitcoin mining hardware. Blockstream stated in an announcement that it plans to deploy the hardware across its various mining facilities located in the United States and Canada. A Top Secret Mining Facility Furthermore, Blockstream disclosed that it would allocate some of the...Read More
After announcing its plans to go public in December 2020, Coinbase released a statement on January 28th about its intent to propose a direct listing instead of a traditional IPO at the end of the year. The cryptocurrency exchange had already filed its registration documents with the SEC but the direction wasn’t specified until now....Read More
The consolidating Bitcoin market was shaken out with one mention from Elon Musk on Friday. However, shortly after the 20% appreciation, the price turned around and fell almost to the pre-pump level. Despite the wild market movement, the on-chain metrics of BTC held strong. The Bitcoin network has been active and processing the second-largest transaction...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The value of Bitcoin has been moving along its current support levels and trying to consolidate around $33k. The sudden pumping of its price against all predictions has provided BTC another chance to test...Read More
Bitcoin’s price rallied to $37900 and as momentum built up, the asset was ready to cross $40000 with a 17.8% increase in a single day. However, a sell-off led to a price drop to $33000 level. As Bitcoin rallied there were metrics that offered buying opportunities and shorting opportunities throughout the rally, on the way...Read More
Bitcoin has evolved in many ways over the past decade, and so has the crypto-market. What was once considered to be ‘Internet money’ is now being considered by serious institutional investors, giving BTC and the crypto-market a certain sense of credibility. Over the said period, the suspicion surrounding digital assets, as portrayed in the media...Read More
The Grayscale Ethereum Trust, which offers its institutional and accredited investors to take advantage of private placements on several occasions throughout the year, has reopened the initiative of its shares. Grayscale announced resuming the Ethereum Trust private placement earlier, thus enabling accredited investors to allocate funds into the company’s product following the second-largest cryptocurrency. Private...Read More
Although major entrepreneurs have shown their support for Bitcoin, regulators, at least in Ireland, seem to have taken a step away from the asset. According to the governor of the Irish central bank, Bitcoin investors must be prepared to “lose all their money.” The governor, Gabriel Makhlouf said he was worried about consumers making the...Read More
It looks like Bitcoin is getting closer to mainstream adoption. Now that even Elon Musk endorsed the popular asset on his Twitter bio, the asset’s price surged by 19% to reach $37,000 during the day. However, in the last hour, at press time, the digital asset fell by 2.6%, which gave many a reason to...Read More
According to a recent research report by Bridgewater Associates, Bitcoin’s price could theoretically rise by at least 160% if allocations towards gold are diversified into Bitcoin instead. Exploring a hypothetical scenario where investors move some portion of their gold holdings into the cryptocurrency, the Bridgewater analysts concluded that this would hike the price of the...Read More
Bitcoin has grown by leaps and bounds over the past year. However, as is often the case, growth and attempts to regulate often go hand-in-hand, with the past year also seeing increasing efforts at regulating the crypto-market in a bid to curb bad actors and crimes like money laundering. Towards the end of 2020, the...Read More
Open interest in Bitcoin Futures is back to above $10.3 billion, a figure the charts last noted well before its most recent ATH. Interestingly, with Bitcoin trading at just over $35,500 at press time, one can also see that institutional demand for Bitcoin hasn’t dropped completely either. In fact, it is around to support Bitcoin...Read More
Bitcoin’s price had crossed $35,000 at press time (On the back of Elon Musk’s Twitter update), amid high volatility on the stock and crypto-market as the likes of GameStop Corp and Dogecoin pumped across the board over the last 24 hours. According to many on-chain analysts and market watchers, this surge in trade activity is...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
As GameStop GME stocks surged from $19.79 to a high of $380, in the past week, Hedge fund Melvin Capital and Citron Research lost billions due to the WSB short squeeze. However, this week has been about the Reddit community of day traders, WallStreetBets or WSB that undoubtedly, for better or for worse, made its...Read More
The US financial services company Robinhood continued with restricting its users from accessing its most popular products. After yesterday’s halt of GME stocks, the platform has suspended instant cryptocurrency buying, citing “extraordinary market conditions.” Robinhood’s Restrictions Reach Crypto Following the GameStop sage, in which the company’s stocks went parabolic driven by retail interest, Robinhood barred...Read More
After another day that reminded of the volatility in the cryptocurrency market, Binance has experienced technical difficulties that resulted in temporarily halting withdrawals. Nevertheless, the leading exchange reassured its customers that all funds are safe and later announced it had resolved the problem. CryptoPotato reported earlier that BTC, as well as most alternative coins, skyrocketed...Read More
Upon announcing its Q4 2020 results, the large NASDAQ-listed business intelligence company MicroStrategy vowed to continue with investing excess cash in bitcoin. Furthermore, Michael Saylor’s firm plans to explore other approaches that will enable it to allocate even more funds in BTC. MicroStrategy’s To Buy Even More BTC? Described as the “largest independent publicly-traded business...Read More
Elon Musk, popular tech entrepreneur and Tesla CEO, is making waves yet again after he changed his Twitter bio to include “Bitcoin.” Right now, the said bio shares a distinct similarity with the one owned by Twitter CEO Jack Dorsey, who himself is a Bitcoin proponent. What is even more newsworthy, however, is the fact...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
Bitcoin is undergoing yet another volatile phase amid FUD and anticipation of the Chinese New Year’s influence on markets. The asset’s price even slipped as low as under $30,000 from its earlier range of $34,000 and more. Recently, Eric Peters, CEO of Connecticut-based OneRiver Asset Management seemed to assure investors and traders that the volatility...Read More
