The Singaporean private banking arm of OCBC Bank has dismissed the chances of cryptocurrencies eventually replacing fiat currencies as a medium of exchange. However, the large institution believes that BTC and other altcoins can replace gold in terms of serving as a store of value. Cryptocurrencies: Store Of Value; Not Medium Of Exchange Ever since...Read More
The collective crypto ecosystem exhibited a significant decline on the 21st of January. Bitcoin dropped down to $28,880 and after registering a new all-time high, Ethereum dropped down to $1081. However, while Ethereum and other altcoins have managed to recoup higher levels in the charts, Bitcoin is still struggling below its immediate resistance range. At...Read More
The bitcoin price surge up to $40,000 was exponential and a sight to behold. The 2020 returns of BTC stand at a staggering 300% and the same can be seen with MicroStrategy’s stock price, which began Bitcoin investments in early August. Suffice to say, institutional investors who bought in before $20,000 are in massive profits...Read More
After Bitcoin dropped on the 21st of January, the investors dropped back to a previously used market strategy that supposedly triggered BTC’s bull run; hodling. As reported previously, dormant coins undergoing movement during the massive $42,000 high became dormant again, and hodlers settled back to navigate through the bearish storm. However, the rally which started...Read More
Nasdaq-listed Marathon Patent Group today bought 4,812.66 Bitcoin worth about $150 million for their balance sheet treasury reserves. Marathon’s chairman & CEO, Merrick Okamoto, believed that holding part of their Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, “similar to other forward-thinking companies like MicroStrategy.” As of 22 January...Read More
Several weeks after signing legislation that required Russian officials to disclose their crypto holdings, the world’s largest country by landmass has gone a step further by prohibiting them from owning any digital assets. The Ministry of Labor and Social Protection of the Russian Federation has sent a letter to civil servants regarding their cryptocurrency holdings,...Read More
While institutions have fueled the current price rally, the contribution of MicroStrategy to Bitcoin’s current rally may be the most significant, and the traders that may have missed Bitcoin’s ascend to the new ATH above $41000 may make up for the ride, by earning returns through MSTR. It was instrumental for the rally that began...Read More
Bitcoin’s range-bound price rally has left many traders waiting for another dip. There have been a few swift recoveries in the current market cycle and institutions have supported the rebound in price, however, the question remains – for how long? When will it be time to book profits on the assets accumulated in the past...Read More
Amid the renewed anti-Bitcoin remarks ascribed to mainstream finance stakeholders, reports have emerged showing banks in Australia working in cahoots with violent South American cocaine cartels. Despite aspersions to the contrary, the crypto market continues to account for an insignificant proportion of global financial crimes. Australian Banks Funelling Dirty Money for Drug Cartels According to...Read More
Bitcoin’s price correction in the ongoing rally was rather short-lived and the asset is back trading at the $32400 level based on data from CoinMarketCap. Though traders endured losses in the dip, and institutions continued buying, the dip was rewarding for altcoins as it changed the direction of investment flow. Against 100% wallets HODLing Bitcoin...Read More
After suffering a massive correction on the 21st of January, the rest of the crypto industry has been able to register a pullback in the upward direction. However, for Bitcoin, it hasn’t been the same. Assets like Chainlink, Polkadot, and Ethereum are above their last resistance levels but it has been a slow recovery for...Read More
Bit Digital – a NASDAQ-listed company, is to face a class-action lawsuit. A recent report by J Capital Research alleged the Bitcoin mining firm in “fake cryptocurrency business.” Impossible to Operate 22,869 Bitcoin Miners in China Bitcoin mining company Bit Digital is facing a class-action lawsuit on allegations of fraud and misleading its clients. According...Read More
Bitcoin’s price bounced back on the charts after undergoing yet another price correction, with the same settling above the $32,000-price level, at press time. In fact, after seeing its value fall by over 15 percent on the 20th of January, the coin was on its way to breach its immediate resistances at the $33,000 and...Read More
The volatility that drove Bitcoin’s price below $31,000 has now brought it up to the $33,000-level, based on CoinMarketCap. In previous market cycles, the volatility has shown a cyclical nature. However, in the current market cycle, it depends on the momentum and activity of institutional investors. Back in 2018, there was institutional participation. Alas, the...Read More
Since Bitcoin hit its ATH, analysts and traders have been anticipating a price drop/correction before a prolonged price rally to buy some more. This is one of the popular upsides of the current price drop in Bitcoin and Ethereum. Source: Coinstats As Bitcoin and Ethereum’s price rallies retraced and the trend reversed momentarily, the ratio...Read More
What is the way out of the short-lived bear market? Is it swing trading or HODLing? Though different parties have different answers, what everyone can agree on is the fact that the altcoin market capitalization heads south every time there is a drop in Bitcoin’s price. This can partly be attributed to the correlation between...Read More
2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600). However, does the...Read More
For a while now, Bitcoin has remained above the $30,000 range even though the asset saw one of the most “dramatic drops” compared to altcoins, over the past week. While some traders gave into FUD, others thought BTC could fall as low as $26,000. But a significant number of people in the space are waiting...Read More
After reaching all-time highs, both Bitcoin and Ether have faced a wave of correction; while the former seems to be stagnated, the latter slid further. Experts believe the current dip in prices is a temporary setback and even a healthy pullback before Bitcoin and Ether reach higher ranges. However, a popular trader and crypto analyst...Read More
Although Bitcoin dipped to its yearly open as predicted, some altcoins seem to be doing well, especially DOT, LTC, SUSHI, & LINK, among others. With Bitcoin gaining mainstream attention, it is only a matter of time institutions foray into altcoins. When this does happen, and it will, projects that have strong fundamentals will get picked...Read More
Bitcoin whales who accumulated the crypto-asset at $33,000 and $31,000 price levels have moved their funds to unknown locations and private wallets. On the contrary, some have sold their holdings as the frenzy accompanying the price drop gathered steam. Bitcoin, at the time of writing, was trading at $31,800 after recovering slowly from the drop...Read More
Bitcoin failed to recover in the past seven days, and it marked a further decline of about 8%. This has its current price hovering around $32,000, and its dominance has declined to 64.1%. But before we take a look at what this means for the altcoin market, let’s see what happened with BTC. The cryptocurrency...Read More
China-based Bitcoin miners are facing setbacks because of a lack of mining chips, across the world. The region, which is the world leader in the mining business, is facing unprecedented prices of mining equipment, amid increasing demand for cryptocurrency. TokenInsight COO Wayne Zhao explained in a report that China once accounted for 80% of the...Read More
NexTech AR Solutions, a Vancouver, Canada-headquartered developer of VR and AR solutions, has booked a $200,000 profit after selling over 130 bitcoins. The firm justified its decision with the double-spending that allegedly occurred on the BTC network yesterday. According to a press release published by the company, NexTech has sold all of its BTC holdings,...Read More
Michael Saylor’s Bitcoin bet appears to be far from over as his company MicroStrategy has acquired even more BTC despite the crypto price experiencing a significant retrace over the last couple of days. MicroStrategy has added more Bitcoin to its balance sheet according to an announcement issued on Friday (Jan. 22, 2021). MicroStrategy has purchased...Read More
As of 22 January 2021, publicly-traded company, MicroStrategy increased its Bitcoin holding by making an additional purchase of the asset. According to its latest announcement, MicroStrategy acquired $10 million worth of Bitcoin, paying roughly $31,808 per coin on average. The firm managed to gain from its earlier holdings during bull market conditions. At the very...Read More
Bitcoin’s price fell to $30,800 on Thursday, with echoes of Black Thursday sounding in a lot of people’s minds. This was the biggest price drop in 3 weeks and this may have been due to fears of double spending in Bitcoin, something that shook the faith of users. Though BitMEX confirmed that there was no...Read More
According to a filing published today by the United States’ Securities and Exchange Commission, New York-based investment management firm VanEck intends to launch a Digital Assets ETF, one that will track as closely as possible, before fees and expenses, “the price and yield performance of the MVIS® Global Digital Assets Equity Index.” The fund will...Read More
Bitcoin’s price seemed to have recuperated as it bounced off the yearly open at $28,956. However, on-chain indicators are suggesting that this expansion was a fluke. In fact, buyers with no real volume or momentum are trying to push the price higher on the charts. The first sign of resistance weakened these buyers’ already weak...Read More
Thanks to its growing popularity among all demographics, major financial institutions are jumping on-board to research and analyze the emerging asset class of cryptocurrencies. J.P Morgan is one such institution, with its latest Cross-Asset Strategy report observing that the mainstream adoption of cryptocurrencies leads to underperformance during crises. According to its analysis, over shorter intra-month...Read More
