Lately, there seems to be a lot of good news when one looks at the on-chain metrics for Bitcoin. Earlier the price briefly moved above $11K but fell back down to $10,700 as of Tuesday morning – the price moving seemingly in tandem with the stock market. Bitcoin: Glassnode Network Index Source: Glassnode As per...Read More
Despite high price turbulence and trend concerns, Bitcoin noted a major milestone over the past 24-hours. According to data released by Messari, Bitcoin completed its longest-ever period above $10,000, crossing its previous record of 62 days that spanned over 1 December 2017 and 31 January 2018. While comparisons with Bitcoin’s most bullish period are good...Read More
Bitcoin has been pulled out of cryptocurrency exchanges since the start of 2020, while its price has surged by 32% year to date. At first, it may seem counterintuitive that Bitcoin is being pulled out of exchanges while there is an uptrend in prices, especially since while the price has risen by 63% since 2019,...Read More
Everybody has a favorite day of the week. For the workaholics, it’s Monday, for the weekend warriors, it’s Sunday, and for everyone else, it’s Friday. Well, not really, but you get the point. There’s a day of the week for all of us. But, is there a day of the week for Bitcoin? It’s been...Read More
Grayscale has enlarged its Bitcoin Trust, as 17,100 BTC were added to Grayscale’s funds at current prices, as the investment is worth approximately $186 million. Grayscale BTC Trust. Data by Bybt Crypto AUM Approaches $6 Billion The total assets under management (AUM) for all Grayscale Investments crypto funds totaled $5.8 billion according to its last...Read More
Bitcoin Options are holding steady, despite Friday’s expiries that amounted to over $1B. As predicted a week ago, the expiry event was a smokescreen. In fact, the outcome was the opposite of the anticipated crash on the CME, with Open Interest and Volumes remaining consistent. According to data from Skew, $7B worth of contracts expired...Read More
When it comes to cryptocurrency adoption, the past year has been dominated by the fact that institutional investors are now pouring into the digital asset market. In light of growing regulatory clarity and products like those offered by Grayscale that make traditional investors feel right at home when dealing with crypto, the last 12 months...Read More
MicroStrategy’s $500M investment in Bitcoin, now its primary asset reserve, has consistently made the headlines for over a week. Significantly, this move was viewed as an indicator of institutional interest since it has long been considered to be an important driver of Bitcoin’s price. During the historic bull run of 2017, institutional interest was key...Read More
The popular digital asset exchange Huobi Group has compiled a study exploring the investment profiles of cryptocurrency traders in emerging markets. It concluded that digital assets such as Bitcoin and Ethereum have become “the first point of entry to financial management for many individuals.” The majority of the survey’s participants came from Europe, Asia, Africa,...Read More
Bitcoin has been treading higher every day and was priced at $10,700, at the time of writing. While most of the market is still hesitant due to choppy market moves, there is an upside to this. The overall market sentiment has shifted recently from being fearful to one of neutrality, after a small Bitcoin surge....Read More
Let’s face it, no one wants to buy Bitcoin. Let me explain. What I mean is, no one wants to buy Bitcoin at its current price, whatever its price may be. We always tell ourselves, “maybe tomorrow it will have fallen some more, and then I’ll buy it.” And oftentimes, tomorrow doesn’t come. However, some...Read More
Bitcoin climbing to $10,700 may have been a fleeting moment since, at the time of writing, the price seemed to be dropping yet again below the aforementioned level. On a longer-term timeframe, it was bullish, but on a short-term timeframe, the price had just broken out of a bearish pattern at the time. Bitcoin 1-hour...Read More
Although Bitcoin has been trading mostly in the five-digit territory for the past two months, the retail interest towards the asset seems to be declining. Data from Google Trends reveals that the “Bitcoin” searches are at their lowest levels since the COVID-19 crisis emerged during March 2020. Bitcoin and Google Trends 2020 Edition The Google...Read More
Although China still categorizes Bitcoin and other cryptocurrencies as illegal, several state-owned media outlets purportedly ran reports describing them as the best-performing assets since the start of the year. Bitcoin And Crypto Run On Chinese Media A popular state-owned media under the name Xinhua News Agency set the tone yesterday by citing a Bloomberg report...Read More
Let’s talk about the elephant in the room. Decentralized Finance has been all the rage for the past few months, and its tokens’ prices are a testament to the excitement. But while the objective of decentralized finance is a financial world which is without a centralized authority, one administered through efficient and seamless smart contracts...Read More
The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form. IRS: No Excuses for Crypto Traders According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will...Read More
A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price. The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years. Bitcoin Stored On Exchanges Drop In its latest report...Read More
In a dedicated live stream, KuCoin’s CEO noted that although why he cannot reveal how much of the company’s total assets were affected during the hack, the stolen fund amount is “small for KuCoin.” The exchange will cover all the losses with its insurance fund. The company first noticed the abnormalities at 2:51 AM, Sept...Read More
Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido. The initiative allows interacting with the Bitcoin blockchain without the...Read More
Hot wallets of the popular cryptocurrency exchange KuCoin have been compromised and drained for at least $150 million worth of digital assets. The company reported the event as a “security incident” a few hours ago, reaffirming that “part of Bitcoin, ERC-20, and other tokens in KuCoin’s hot wallets were transferred out of the exchange.” The...Read More
On 25 September, crypto-trading firm Alameda Research minted the largest-ever quantity of Wrapped Bitcoin [WBTC]. News of the development was shared on Twitter by WBTC, with the tweet going on to note that the mint was worth 2,317 BTC, equivalent to $25 million. Source: Etherscan In fact, Alameda Research beat the previous record set by...Read More
Bitcoin has shown immense promise to the investors over the years, even though its growth may have currently been restricted due to a consolidating market. Despite the stagnated growth period, the coin has been returning 49% in YTD. Due to a strong correlation between BTC and most major alts along with other cryptocurrencies, the overall...Read More
Bitcoin’s on-chain metrics suggest that the market is overly bearish. This has been the case for most of 2020. Source: Coinmarketcap Up till now, on-chain metrics are considered a reliable source of data for predicting Bitcoin’s market sentiment and price. It is assumed that the Bitcoin Network needs sufficient on-chain volume in order to fuel...Read More
Another action-packed week took place in the crypto field. Unfortunately, the market is currently in decline as the entire capitalization lost around $16 billion over the past seven days. The good news for Bitcoin bulls is that BTC managed to maintain itself above the critical psychological and technical support of $10,000. Things were looking rather...Read More
Bitcoin‘s price has moved an awful lot in the past 24-hours but the entire community was on market watch. With analysts tracking different metrics and changes in volume, CryptoQuant CEO observed a bit of activity from the whale’s side, or dare I say, a lack of activity. Ki Yong Ju indicated on twitter that the...Read More
Just months after making a grand entrance in the cryptocurrency space, the Barstool Sports Founder Dave Portnoy reaffirmed that he’s out of the field. In a recent podcast with Anthony “Pomp” Pompliano, the controversial day trader justified his exit by claiming that Bitcoin is a giant Ponzi scheme. Portnoy’s Controversial Bitcoin History Portnoy has become...Read More
Spain-based trading software development company, Arbicorp, recently halted the activity of a trading bot. The decision affected more than 32,000 clients who once deposited their money on that platform and now cannot withdraw it. The Arbistar 2.0 trading bot offered 1% daily returns to anyone willing to invest at least 3000 euros ($3500). It also...Read More
According to a local news report, four members from the Yisrael Beiteinu political party in Israel have submitted a new bill that proposes to recognize Bitcoin (BTC) as a digital currency instead of an asset, at Knesset, the legislative branch of the Israeli government. The reason for this amendment to BTC’s current regulation stemmed from...Read More
Binance Futures was launched a year back and today, as per CoinGecko’s ranking of top derivative exchanges, it stands third. The exchange has been popular among users due to its active listing of in-demand products like Chainlink [LINK] quarterly 1225 coin-margined contracts with leverage of 75x. At the time, LINK wasn’t being significantly affected by...Read More
Bitcoin’s investment thesis as a long-term asset has been fairly well-received over the past few years. In fact, with more and more institutional investors, Bitcoin seems to be emerging as the go-to asset. While 2020 was pitted to be a key year for the cryptocurrency owing to its third block reward halving, the year hasn’t...Read More
