Prominent American economist Paul Krugman once again shared his negative stance towards cryptocurrencies. He compared a Ponzi scheme. Taking Aim at Crypto The most recent adverse price developments in the cryptocurrency market sparked many negative comments. Joining them was the Nobel Prize laureate – Paul Krugman. In an interview for the New York Times, he described...Read More
Elliptic (a British blockchain security & analytics company) successfully traced DarkSide’s primary Bitcoin address, which contained over $90M in payments from 47 different victims. Ransomware As a Service – a Twisted Model DarkSide designs, creates and markets ransomware software to be sold to other cybercriminals who are able to locate the best targets. This type...Read More
The Australian Financial Services Minister – Jane Hume – warned cryptocurrency investors to beware of the risks in the market. She sounded a note of caution to the public after the prices of most digital assets collapsed significantly yesterday. However, Hume outlined their future importance. ‘They Are Volatile And High-Risk Assets’ Following the recent bloodbath,...Read More
Bitcoin’s 2021 bull cycle was paused, not entirely stopped, and will resume, opined the founder of SkyBridge Capital – Anthony Scaramucci. In a new interview, the former White House Communications Director addressed the recent environmental issues and called Bitcoin a fully robust monetary network. Yesterday’s market crash that saw bitcoin sliding by more than $10,000...Read More
Scott Minerd – Global Chief Investment Officer and Chairman of Guggenheim Partners – compared the recent crypto market collapse to the ”Tulipmania’ in the 17th century. His current stance came somewhat unexpectedly since not long ago, he predicted a price of $600,000 for Bitcoin. Crypto Is a ‘Tulipmania’ The recent crypto market crash created an...Read More
The -50% Dump Was Little Different! Bitcoin price rally gained huge traction since the beginning of 2021 as it rose like a giant in no time. The BTC price trended sideways as the altcoins began to grow remarkably in the past couple of weeks. Advertisement However, the black wednesday of May 2021, shook the entire...Read More
The fingers are pointing at Elon Musk, China, and even U.S. lawmakers, but the truth behind this week’s epic crypto market crash could be even simpler. A highly overheated market combined with billions in leveraged positions was poised to crack at some stage, and the avalanche created by cascaded liquidations appears to be what we...Read More
This collapse, catalyzed by Elon Musk’s tweets criticizing Bitcoin’s energy consumption, was exacerbated by several factors, including China, reiterating its anti-Bitcoin stance, a large short position on Bitfinex, and the necessity of a general correction in the overbought crypto space. Crypto-related hashtags are trending across the world, including #crypto, #buythedip, and #altseason2021. Bears Attack Bitcoin...Read More
Justin Sun, the founder of TRON, just announced that he purchased over $150 million worth of bitcoins at an average price of about $36,800. In what some are calling ‘the greatest wealth transfer of the year,’ Bitcoin and the cryptocurrency market at large plummeted over 50% before rebounding over 25% within hours. Amidst a slew...Read More
Analysts of the banking giant JP Morgan opined that institutional investors might withdraw from Bitcoin and turn their sight back to gold as the price of the primary cryptocurrency collapsed. Back to Gold The turbulent times for cryptocurrencies caused some analysts to doubt bitcoin’s merit as a store of value. According to JP Morgan experts,...Read More
Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins. The founder and CEO of the business intelligence giant announced the latest purchase on Twitter...Read More
Bitcoin fell below $43,000 for the first time since February 2021, causing a 10% correction in the cryptocurrency market in the last 24 hours. The two largest cryptocurrencies also seem to be having a hard time maintaining the uptrend. While Bitcoin Price is struggling to move above $50k and find a direction recently, Ethereum also...Read More
Bitcoin prices have held steady over the past 24 hours as the panic selling has eased off and the weak hands appear to have been flushed out. At the time of press, BTC was trading at a little over $45,400, up 5% since the same time yesterday. Its low during this correction was a brief...Read More
9 out of 10 of all Bitcoin (BTC) mining pools have been signaling for taproot activation, an upgrade that could highly improve network scalability and privacy. However, its activation seems unlikely during the Difficulty Epoch for Bitcoin. The latest mining pool to signal Taproot activation is BTC. Top, which did so on block height 683,945....Read More
A new rule under the hat of the COVID-19 relief bill will see 39 million US households receive up to $3,600 monthly starting from mid-July. Given the history between BTC’s price appreciation since the first-ever stimulus bill, the narrative rises now if this latest endeavor will push bitcoin higher again. 39M American Families to Receive...Read More
Chinese officials warned the public about the risks associated with trading with digital assets. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies. Tighter Regulations on Crypto Trading According to the China Financial Stability Report, investors should be extra vigilant when...Read More
Is Elon Musk Greater Than Bitcoin? Bitcoin price yet again slumped more than 20% for the second consecutive time, due to Elon Musk. Initially he announced withdrawal of BTC payment mode and the price collapsed, and now, he just gave a hint that, probably Tesla may dump Bitcoin which dragged the price to much lower...Read More
At the time of press, Bitcoin prices had lost 10% on the day and were trading at $43,300. Ironically this is very close to the price BTC hit after Tesla announced its $1.5 billion purchase of the asset in February. Bitcoin was trading at just over $50K at the beginning of the weekend, however, by...Read More
Last week, Elon Musk and Tesla shocked the entire crypto industry following an announcement that the electric car company will no longer accept bitcoin payments for “environmental reasons.” A Hard Pill For Bitcoin Maximalists Giving its reasons, Tesla argued that Bitcoin mining operation requires massive energy consumption, which is generated from fossil fuel, especially coal,...Read More
It goes without saying that Tesla took center stage last week when the company announced it would no longer support bitcoin payments for its electric vehicles. The message seems to have resonated, as Greenidge Generation Bitcoin Mining has vowed to be carbon neutral in 2021 and beyond. Carbon Neutral Bitcoin Mining After announcing plans to...Read More
Williston, a city in North Dakota, plans to accept cryptocurrencies for utility bills online payments, becoming the first in the state to adopt crypto assets. According to City Finance Director Hercules Cummings, the city has partnered with BitPay, one of the largest bitcoin payment service providers in the U.S. Payments will be converted from crypto...Read More
In early Sunday trading, BTC prices had fallen to their lowest levels for over 11 weeks, hitting $46,700 before a minor recovery. The last time Bitcoin dropped to these levels was at the end of February during the second major correction of this rally. A rebound off that bottom sent prices above $60K for the...Read More
Bitcoin price rally attained the highest ever levels in a very small time frame and marked ATH at $64,863. Yet the asset falling into a bearish trap declined to a greater extent, draining out much of the gains accumulated. Moreover, Elon Musk, with the withdrawal of BTC payments for purchase of Tesla cars fueled the...Read More
Edward Chancellor – a British journalist and financial historian, explained that the first central bank digital currencies are likely to raise inflation which can lead to the destruction of Bitcoin. He agreed that CBDCs are ”cool” but certainly not stable. CBDCs Would Mean The End Of BTC Nowadays, many central banks of numerous leading economies...Read More
This comes on the back of a large Bitcoin dip following the most recent news that came from Tesla and its decision to halt bitcoin payments for its products. A Slowdown of Enthusiasm The unbridled electric energy in the air surrounding Bitcoin briefly halted after major cryptocurrencies plunged over 20% shortly following Elon Musk’s announcement...Read More
To say that last week was eventful would be an understatement. The entire market went through extreme volatility. Many altcoins charted new all-time highs and went through serious declines as well. Let’s start with Bitcoin. The cryptocurrency is currently down about 10% on the weekly – last Friday, it was trading at around $57K. Unfortunately,...Read More
What’s Next For Bitcoin Price? Bitcoin prices in recent times have initiated a sideway trend as the other altcoins and new tokens gain strength in the crypto space. The bullish momentum was hampered drastically by Tesla CEO, Elon Musk by withdrawing BTC mode of payment. This led to a huge drain in BTC prices that...Read More
The government officials of Cuba examine crypto adoption as an instrument to overcome financial turbulence in the country. This comes a few weeks after the Cuban authorities started discussing the implementation of digital assets in the economy. Crypto vs. Monetary Turmoil The economic situation on the island of Cuba suffered heavy setbacks due to the...Read More
Despite the volatile market conditions, Michael Saylor’s business intelligence giant has doubled down on its BTC-related strategy. The firm bought another chunk of 271 bitcoins, and its total stash is now nearly 92,000 coins. The NASDAQ-listed company announced the latest purchase of 271 bitcoins on May 13th. The firm said it had bought the amount...Read More
The shocking announcement made by Tesla and its CEO Elon Musk took the cryptocurrency space by storm. The company’s decision to remove BTC as a payment option for its vehicles and services brought prices down and attracted the world’s attention. Somewhat expectedly, the ever-vocal crypto community was quick to respond, from people canceling their Tesla...Read More
