With Bitcoin rallying and staying above the $13000-mark for a few days now, on its way towards a new ATH, the trade volume on spot exchanges has dropped dramatically. While the said volume was high when the price breached $13000 for the first time, since then, the figures for the same have dropped consistently. BTC...Read More
A recent survey compiled by Real Vision revealed quite a few interesting observations about the present-day crypto-market. The survey in question, while evaluating market sentiment across different asset classes, found that by and large, there is an extremely bullish sentiment around Bitcoin. In fact, it found that 65% of all market participants believe that Bitcoin...Read More
2020 may be the year of the Bitcoin. With the cryptocurrency’s price staying above $12,700 3 days in a row and above $11,000 for the past two weeks, Bitcoin seems to be rallying again. However, price theories by Bitcoin maximalists have been making the rounds for the past 10 months now. While price trends do...Read More
These are very interesting times we are living in, especially with Bitcoin in the mix. In fact, the cryptocurrency’s price hit $13,300 for the first time in 15 months. And yet, a few details aren’t in line with this surge, and here’s what those are and why they are so. It can be argued that...Read More
The following article tries to determine the quality of life of people who have purchased Bitcoin. However, before going ahead with that, what does one mean by ‘quality of life’ in the present context. Well, as one would imagine, here it simply refers to how Bitcoin HODLers are faring – Are they in trouble? Are...Read More
Bitcoin, the world’s largest cryptocurrency, recently hit a new ATH in 7 countries. Soon, it is likely that other countries will catch up too. In Brazil, Turkey, Argentina, Sudan, Angola, Venezuela, and Zambia, Bitcoin has crossed its previous ATH. However, this development may just be the tip of the iceberg. At least in Turkey’s case,...Read More
Everyone has their own Bitcoin buying strategy. Some look at simple things like a particular drop in price, others look at a host of wonky indicators, while some prefer to keep it simple and keep stacking sats. Which strategy works out to be the best though? Well, in short, there is no one perfect strategy....Read More
If I told you back in March that six months later, Bitcoin would be trading at over $13,000 while the biggest derivatives exchanges’ executives were indicted by U.S authorities and the biggest crypto-to-crypto exchange suspended withdrawals, you’d have laughed me out of the room. Yet, here we are. OKEx, one of the world’s largest cryptocurrency...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be considered investment advice Bitcoin looked bullish on the charts, with its price hitting $13,300. The cryptocurrency’s price movement meant that it was only 32% away from the top. It should be noted, however, that in many currencies, the...Read More
For most of the year, the world’s largest and most dominant cryptocurrency, Bitcoin, has noted a strong correlation with the world of traditional finance. In fact, over the course of 2020, the S&P 500, Gold, and Bitcoin have been the focus of the market, given the growing uncertainty and some speculation with regard to Bitcoin’s...Read More
During a recent interview, Michael Novogratz, CEO of Galaxy Digital Holdings, shared his views on why he doesn’t see Bitcoin being used as a currency in the next 5 years. As a proponent of the store of value narrative for Bitcoin, Novogratz highlighted a few key reasons why he believes the price of Bitcoin will rise...Read More
The simple mathematical concept of a transitive property explains that if A = B, then B = A. So, in the cryptocurrency world, if 1 BTC = $13,000, then $13,000 = 1 BTC. Using that base-case, let’s scale down the equation. $1,000 can fetch you ₿0.076, and hence, scaling it down, $500 can get you...Read More
Open Interest on Chicago Mercantile Exchange has nearly doubled over the past 30 days. In fact, Aggregate Open Interest across top derivatives exchanges is up by 31%, with the response to Bitcoin’s steep rise in price evident when Deribit, BitMEX, and OKEx’s price charts are analyzed. Aggregate Open Interest || Source: Skew Back in July...Read More
The past few weeks have been quite favorable for Bitcoin’s price action. At press time, the coin was testing a key resistance around $13K, and if this resistance is breached, that would take Bitcoin to this year’s ATH. Interestingly, another metric that is quite favorable for many Bitcoiners is its UTXO profitability. According to data...Read More
2020 has turned out to be quite a year for the DeFi space. DeFi’s rapid growth over the course of the year saw it cross the $12 billion-mark in terms of total value locked, with the same bullishness positively impacting popular Bitcoin (BTC) tokenization protocol – Wrapped BTC (WBTC). WBTC, the ERC-20 token on the...Read More
National Police of Tenerife arrested Santiago Fuentes who is accused of defrauding up to 32,000 people in an alleged bitcoin scam, amounting to the tune of about 850 million euros (over $1 billion). The accused is the director of a called ArbiStar 2.0, which is based in Playa Las Americas. Authorities launched an investigation after...Read More
Hodling Bitcoin has a whole different meaning in 2020. It is no longer associated with optimistic novice traders who entered the space a gazillion years ago, all hoping for a profitable return. Instead, the trend has been taken over by huge business entities that are eyeing Bitcoin as a long-term investment strategy and as a...Read More
Owner of the Bitfinex crypto exchange, iFinex announced today integration with cross-chain system pNetwork (pTokens network) which would enable BTC, ETH and LTC to automatically be tokenized, and moved on to DeFi blockchains directly from the Bitfinex platform. pNetwork is the decentralized governance layer operating the pTokens bridges. pTokens makes cryptocurrencies “compatible” with blockchains, such...Read More
While Bitcoin hit $12,000 and went beyond it on October 20, this surge has more to it than meets the eye. In essence, this is bullish for bitcoin and there are several reasons to quantify that. Bitcoin technical levels For long, bitcoin has wandered the $9,000, $10,000 levels, failing to successfully break these levels. However,...Read More
“A portfolio built completely with cryptocurrencies” – to a traditional portfolio manager, is a nightmare in terms of risk and drawdowns. However, to a person that has been in crypto over the last 3-4 years, this seems like a cakewalk. While the traditional portfolio does include Emerging Markets, that, in a way, is similar to...Read More
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
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
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
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
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
