Bitcoin is a decentralized p2p asset class that has gained worldwide popularity and has a market cap of $350 billion. But how decentralized is bitcoin? Before we actually get into that, let’s break down the word “decentralized”. Generally, decentralized is something that’s not concentrated and centralized. To bitcoin, the term ‘decentralized’ is mainly attributed due...Read More
The store of value and digital gold narrative has taken markets across spot exchanges by storm. Imagine moving ahead from the store of value narrative, as Bitcoin continues to trade above $18000 and consider the fact that $1000 of Bitcoin purchased a decade ago would be worth approximately $100,000,000 today. When @danheld tweeted about this,...Read More
The Australian cryptocurrency exchange, BTC Markets, has inadvertently exposed more than 270,000 emails of its customers. The company apologized for the inconvenience and reassured that all other data, including users’ funds, is safe. BTC Markets Exposes Customers’ Emails A user going by the Twitter handle Stevosxrp.crypto took it to Jack Dorsey’s social media giant and...Read More
The US-based cryptocurrency lending company BlockFi has partnered with the American multinational financial services corporation Visa to bring Bitcoin to the masses. Bloomberg reported that the two US companies will offer a credit card that rewards clients’ purchases with the primary cryptocurrency, instead of traditional options such as cash and airline miles. Dubbed the Bitcoin...Read More
NYDIG, the cryptocurrency asset management company, has raised $100 million from a single investor. The firm collected the amount during its newly-announced fund Digital Assets Fund II, after the previous fundraising project, named Digital Assets Fund I. $150M In Just Two Crypto Investment Funds According to officially published documents filed with the U.S. Securities and Exchange...Read More
Principal actors in the PlusToken Ponzi scheme have bagged 11-year prison sentences in China. The scheme managed to defraud investors of billions of dollars in various cryptocurrencies. End of the Road for PlusToken Scammers According to the South China Morning Post on Dec. 1, principal members of the PlusToken scam project were sentenced to 11...Read More
The U.S. Department of Justice (DoJ) has extradited a principal member of a fraudulent cryptocurrency mining and trading platform from Panama to the United States. AirBit Club Co-founder to Face Criminal Charges in the U.S. According to an announcement by the acting U.S. attorney for the Southern District of New York, Audrey Strauss, U.S. authorities...Read More
Bears are circling as bitcoin hit all time highs again on Tuesday. Is this 2017 all over again? Google data shows no hint of retail FOMO in BTC/USD. Bitcoin hit multiple record highs this week, prompting “FOMO” or “fear of missing out” calls from some analysts. If there is euphoria in the crypto market it’s...Read More
China has been tightening its grip around crypto and crypto businesses. According to recent reports, authorities from Baoshan city in the Yunnan province have cracked down on Bitcoin miners. The authorities have ordered the electricity suppliers to cease supply to the miners in the area. According to Colin Wu, a Chinese reporter on Twitter, on...Read More
The leading US-based cryptocurrency exchange Coinbase assisted in MicroStrategy’s massive purchase of $425 million worth of BTC. The platform pledged to help other large firms diversify their portfolios with bitcoin in the future as well. Coinbase Involved In MicroStrategy’s BTC Purchase The NASDAQ-listed business intelligence firm made the news on two occasions earlier this year...Read More
Bitcoin has hit a new ATH of 19,865 as of November 30, 2020, however, it hasn’t hit $20,000 yet. This calls for a celebration as the highs set in 2017 were finally reached after 1080 days. So, what to expect next? Long term, bitcoin is bullish without a shadow of a doubt. However, the short...Read More
Is Bitcoin still in the green despite its 15 percent fall from its $19,000 high? This three-part piece will clear up how much of Bitcoin’s daily losses it has managed to recoup in the past year. In the previous piece, we looked at the top-10 declining and top-10 recovery days for the cryptocurrency. To reiterate,...Read More
As Bitcoin’s price hit a new ATH before closing in November 2020, it is the ideal time to check Bitcoin’s correlation with Gold and the impact on price. Bitcoin and Gold decoupled earlier in November 2020, based on data from skew. The quarterly gain posted by Bitcoin is 72% and the monthly gain is 35%....Read More
Bitcoin’s price crossed ATH on most exchanges on November 30, 2020 chasing after a high monthly close. Interestingly enough, @Danheld of Kraken has been asking traders to be patient and wait to get rewarded. In his recent tweet, he said there will be several dips in this cycle as well, and HODLing is the only...Read More
BitMEX has long been a pioneer when it comes to bitcoin derivative products. However, due to its recent tussle with the American authorities, the exchange faced a major setback. With the new CEO appointed, it is yet to see how he will guide the exchange to a safer place. According to the blog, the new...Read More
Chinese Bitcoin mining firm Canaan has recorded a loss in yet another quarter but is showing positive signs of a recovery as share price and market capitalization spikes. Following a disappointing initial public offering (IPO) last year and declining inventory sales, the company has seen the balance of power shift considerably to major competitors MicroBT...Read More
United States Department of Justice (DoJ) and the Southern District of New York (SDNY) extradited a member of an alleged AirBit Club ponzi scheme for “internationally coordinated fraud and money laundering ring” and being allegedly involved in defrauding individuals “through investments in AirBit Club.” In a release published on Monday, 30 November DoJ identified one...Read More
The post COVID-19 pandemic economy might see certain economies crashing and local currencies plummeting, which would make Bitcoin theft “a lot more attractive,” according to new research. The study, titled ‘Cyberthreats to financial organizations in 2021,’ was published by Kaspersky’s cyberthreat research team. In it, the authors expect more fraud, targeting mostly BTC, due to...Read More
Crypto exchange Gemini’s co-founders, the Winklevoss twins think Bitcoin will be gaining 25 times its current value as more global investors adopt the leading crypto as a hedge against inflation. In a recent interview with CNBC’s “Squak Box” Tyler Winklevoss said that Bitcoin will be “the best performing asset of the current decade” and stated:...Read More
When the weekend started, Bitcoin’s price had slumped to $16,788. By the end of it, however, Bitcoin was trading close to $18,147. The positive commentary from institutional buyer Guggenheim Partners helped retail traders remain optimistic about the Bitcoin market, despite the 15.6 percent retracement seen on Thanksgiving. This was evidenced by the latest surge in...Read More
One moment Bitcoin looks set to breach its all-time high and the next, it’s down by $3,000. Welcome to crypto! In a bull market with bearish overtones, a lot can be lost in the noise. For instance, if you’d bought Bitcoin last week and sold it this week, you’d be down by around 14 percent....Read More
Although Bitcoin has recovered from its vigorous price losses during the Thanksgiving massacre, analysts from JPMorgan Chase & Co believe that further declines may still occur. The strategists pointed out that Grayscale, through its Bitcoin Trust, will play a significant role in future BTC price developments. Is Bitcoin To Head Further South? The primary cryptocurrency...Read More
2020 has been a year of uncertainty. Not only did a pandemic take down markets the world over, but the crypto-market wasn’t immune either. With the end of the year looming, it would now seem that many investors are having a different sort of dilemma. With the market just beginning to price in the effects...Read More
Financial historian and Milbank Family Senior Fellow at the Hoover Institution at Stanford University, Niall Ferguson, has penned a lengthy piece on Bitcoin which is getting noticed by the crypto community. In it, the former Harvard and Oxford University professor commented on how the traditional naysayers and debunkers have softened their collective stances this year...Read More
After about $2 billion worth of longs were decimated during the recent crash, the only question that remained was this – “Is the Bitcoin correction over?” Bitcoin’s correction was incoming, however, nobody knew when to expect it. Moreover, with each surge, Bitcoin’s ATH just got closer. Hence, the cryptocurrency’s recent movements blindsided a lot of...Read More
As things stand, Bitcoin and Ethereum trail their respective 2017 peaks by 10 percent and 150 percent, respectively. Clearly, one is further away than the other, but both cryptocurrency’s markets are closer to the infamous bull market than you’d think. According to the market intel report by blockchain analytics firm Chainalysis, while Bitcoin might’ve seen...Read More
Guggenheim Partners is among the largest investment and advisory financial services companies. The Wall Street giant filed a document with the US Securities Exchange Commission (SEC) to enable one of its funds, dubbed the Macro Opportunities Fund, to allocate millions of dollars in bitcoin. According to the filing, the Fund plans to spend 10% of...Read More
While Bitcoin’s price was rallying on the price charts, DeFi tokens were adding TVL in both BTC and ETH. However, after the price dropped by 8.64%, DeFi’s TVL soon plummeted from $14.35B on 23 November to $12.7B in less than a week. This didn’t mean that DeFi’s rally was over though. In fact, while the...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice Bitcoin has started its rollercoaster ride yet again. This has contributed to longs worth billions being liquidated as a result. As long as we have high volatility, we can expect this trend to continue...Read More
For Bitcoin’s price, a pullback of 11% is not an unusual event. Call it weekend blues or price corrections, there have been even greater pullbacks in the crypto-asset’s market in the past. This is something that needs to be understood clearly as, over the past 3 years, no rally apart from the present one has...Read More
