Bitcoin, Gold, and the S&P500 have collectively shared the center stage when it comes to market movement in 2020. While the crypto-asset has periodically taken sides, at the moment, Bitcoin is more correlated with the traditional stock market. Source: Skew Source: Skew When comparing recent Skew charts of Bitcoin’s relationship with Gold and the S&P...Read More
Much BTC vs fiat fun was had after self-claimed Bitcoin pioneer and podcaster, Max Keiser, took to Twitter to make another impassioned case for Bitcoin to gold advocate Peter Schiff, chairman of Schiffgold. Keiser claimed that crypto karma had gotten the better of Schiff for “trash talking” about Bitcoin. The BTC evangelist said that had...Read More
They say that to see the future, one should only learn history. Oftentimes, though, we tend to ignore history altogether. Exactly 33 years ago, on this day, October 19th, 1987, Wall Street and global markets tumbled in a massive selloff that saw the S&P 500 lose about 20% and the DJIA about 22%. One might...Read More
Bitcoin was trading above the price level of $11400, at press time, with BTC having successfully negotiated a stay above $11k for most of the previous week. In fact, despite several notable developments recently, the cryptocurrency recorded a 5% hike over a 3-week period. This is interesting because, until 2020, the prevailing perception was that...Read More
Capitulation, more popularly known as the death spiral, is usually thought of to arrive when investors surrender, and HODLers give up all future hope in an asset and sell. A discussion about capitulation is relevant right now because institutions like MicroStrategy and Square are buying and there may be a point when they flood exchanges...Read More
Bitcoin’s price finally made a worthwhile move after surging to $11,840 on Bitstamp following days of stagnation. BTC/USD. Source: TradingView The price has since retraced a bit to trade at its current level of around $11,780. Nevertheless, this is a move in the right direction as concerns started crippling up that we might be in...Read More
With Bitcoin’s price hovering around $11,500, recent data indicated that the asset had spent only about three months of its existence above that particular level. BTC: Only Three Months Above $11.5K The official launch of the first-ever cryptocurrency came in early January 2009. Born during the last massive financial crisis, Bitcoin was this “magical money”...Read More
Simply put, velocity is a measure of how quickly money is circulating in the economy. For Bitcoin, the figure is calculated by dividing the on-chain transaction volume (in USD) by the market cap, i.e. the inverse of the NVT ratio. The value for the same has risen significantly in 2020, relative to 2019. In fact,...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be considered as investment advice Bitcoin‘s price movement over the previous week seemed to have formed a curve, one perhaps hinting at a potentially bullish pattern that could push BTC to $11,700. At press time, Bitcoin was trading at...Read More
Bitcoin’s hashrate hit a new ATH recently. In fact, the total hashrate has hit quite a few ATHs this year, with the same noted to be $144.03M TH/s, at the time of writing. However, while historically this points to a price hike in the future, it may not be the case this time. Bitcoin’s hash...Read More
Cryptocurrency trades have steered clear from Bitcoin trading during Q3 2020, said eToro’s quarterly report. In contrast, the multi-asset brokerage platform revealed that some larger-cap altcoins, such as TRON, EOS, BNB, and Tezos, had experienced double- and even triple-digit trading volume surges. Cryptocurrency Trading Changes On eToro In Q3 The popular platform published its latest...Read More
For the Bitcoin world, December 2017 was the glory days and the nightmare, all wrapped in one. Over that month, and the pullback that followed, the world saw what could happen if the hype around cryptocurrencies gave way to reality. Now, nearly three years on, Bitcoin’s press time price requires a 75 percent jump in...Read More
A recent report indicated that the number of Bitcoin whales has started to decrease following months of increased accumulation. Contrary to most expectations, history shows that retail investors are typically taking advantage of similar conditions, which could signify the beginning of a new run-up. Bitcoin Whales Accumulation Slows Down Bitcoin whales are considered addresses that...Read More
Zcash and Maker although still not bullish enough, were definitely displaying signs of short-term positive price reversals, as the selling pressures for the two digital assets continued to weaken. Bitcoin SV however, seen making a bearish breakout below its trendline, could witness a few more bearish sessions, as the bulls were yet to solidify a...Read More
Popular TV host and long-time Bitcoin proponent Max Keiser believes that futures traders suppress Bitcoin’s price at current levels. However, once the asset explodes to Keiser’s intermediate target at $28,000, BTC’s amount for sale will evaporate as governments and institutions will purchase directly from miners. Keiser: Governments And Institutions Will Rush To Buy BTC Keiser...Read More
Bitcoin has stayed above $10,000 for a record period of time; its price sustained above the 20MA and it has seen increased volume and institutional adoption. This was all amidst the FUD experienced by the markets in the past few months, with the drama around major crypto exchanges like KuCoin, Bitmex, and OKex, which surprisingly...Read More
Although the market was shaken as the regulatory hammer struck BitMEX at the start of October, it has since recovered. Bitcoin, the largest asset did notice sudden pressure given the panic in the market, but it managed to hold on and recover in the following days and reach a value of $11,731, which was unseen...Read More
The drama around OKEx started on Friday when news broke that the popular exchange had suspended all withdrawals from the platform. Almost immediately, the cryptocurrency market reacted with price drops. Bitcoin lost about $350 in a few hours. Shortly after, reports emerged that OKEx co-founder Xu Mingxing was taken by police officers over a week...Read More
I get it. It’s always an either-or decision between Bitcoin and gold, as a pure investment play. Since the commodity and the cryptocurrency each have similar attributes of – a hedge, limited supply, and safe haven, these assets are used to balance the bottomless assets that are stocks, bonds, and cash. But does one edge...Read More
Bitcoin’s price was rallying before CFTC charges hit BitMEX, and immediately after, retail traders started scaling back positions on BitMEX. Open interest in XBTUSD perpetual contracts on BitMEX dropped to 55000 BTC. BTC Perpetual Swap Funding Rate || Source: Skew The funding rate dropped below -0.05% in the first week of October in response to...Read More
To improve its base protocol, developers of Monero (XMR), a privacy-focused cryptocurrency, announced a network ‘Oxygen Orion’ upgrade, which will implement a new software- the linkable ring signature protocol- called ‘CLSAG,’ to make transactions “lighter and faster.” CLSAG (or compact linkable spontaneous anonymous group) feature is said to reduce average transaction “size” by approximately 25%...Read More
As institutions line up to buy Bitcoin, its origin story comes into focus. Most argue that Bitcoin was created in response to the Lehman Brothers bankruptcy and the Global Financial Crisis that followed. However, it is the result of decades of work on peer to peer payments. Since prices are driven by inflow and volatility...Read More
Plaintiff Dmitry Dolgov, a resident of Moscow, Russia has filed another lawsuit against crypto exchange BitMEX for violating regulations and manipulating markets with legal claims amounting to $50 million. The lawsuit alleged that HDR Global Trading Limited, the company that owns and operates BitMEX, violated know your customer and anti-money laundering policies, which caused hackers...Read More
Coinbase has published a “transparency report” that also revealed how the leading crypto exchange has received 1,914 “legitimate government” requests in 2020. According to Coinbase, these requests mainly came in the form of subpoenas and sometimes included search warrants and court orders. About 90% of these “transparency” requests were sent from the U.S., the U.K.,...Read More
Chief Security Officer at cryptocurrency exchange Kraken, Nicholas J. Percoco alerted users today about a scam that was targeting crypto users, which involved a homograph phishing attack and “multiple” people who were pretending to be Kraken employees. Percoco further alleged that people named Liz Cohen, Darin Zumberi or Jing Kang were posing as Kraken employees and...Read More
The bullish rally at the end of July was pretty significant for Ethereum. The valuation jumped above $250, $300, $350, and eventually surpassed $400 after more than 2-years. Ethereum’s rally was so dominant that options trader expected Ethereum to impute more volatility than Bitcoin itself. ETH-BTC 3 months realized vol spread on 27th July was...Read More
Another week passed on the cryptocurrency market, and it surely wasn’t a boring one. The cryptocurrency started off strong, causing many to believe that it might finally breach the coveted $12,000 mark. However, the excitement was short-lived because, just today, news broke out that the founder of OKEx, one of the primary cryptocurrency exchanges, has...Read More
Bitcoin, despite its recent sideways movement on the charts, has a very positive outlook attached to it. Hodlers of the cryptocurrency have long been optimistic about BTC’s long-term price trend. However, with the MicroStrategy, Square Inc., and Stone Ridge’s news breaking out over the past few weeks, it would seem that institutions, en-masse, are buying into...Read More
Cryptocurrency trading platform Bitfinex announced today that it has made staking rewards available for Polkadot (DOT), the native token of Polkadot blockchain, which would allow DOT token holders on the Bitfinex platform to earn rewards of up to 14 percent per year, according to a release shared with AMBCrypto. The staked DOT tokens will be...Read More
A few hours ago, global cryptocurrency exchange giant OKEx halted withdrawals much to the chagrin of traders and investors. Bitcoin prices fell as a response to additional reports of founder Xu Mingxing being arrested over a week ago. However, what should be more concerning is the amount of BTC held by the exchange’s wallets. Data...Read More
