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
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
Bitcoin has endured long periods of consolidation and bursts of strong volatility over the course of 2020. One of its more notable achievements saw BTC break yet another key barrier – the $11K resistance. However, as was the case the last few times, the most recent example of the cryptocurrency breaking the $11K-mark saw BTC...Read More
Cryptocurrency exchange Coinbase announced today that it would sponsor at least two Bitcoin developers, who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects, through the exchange’s new grants dubbed Crypto Community Fund. Coinbase said it would make the final selections after current Bitcoin Core developers and “important” community members shortlist the...Read More
When we talk about the accumulation of crypto-assets, only one corporation comes to mind this year – Grayscale Trust. In 2020 alone, Grayscale has accumulated more than 300,000 BTC, while also introducing a new digital asset trust associated with Litecoin. In fact, according to reports, the firm has registered over $1 billion in inflows in...Read More
With a press time price of just over $11,300, Bitcoin was attempting to head towards its next high on the charts. In fact, at the time, BTC’s price was nearly 8% higher, when compared to the same a week ago, with 88% HODLers sitting on unrealized profits. With the price climbing, HODLers are spending their...Read More
Polkadot announced that a new trustless wrapped Bitcoin – PolkaBTC- will be released on its blockchain in early 2021. This will be Polkadot’s first trustless wrapped Bitcoin which the platform deemed as a critical step toward an interoperable ecosystem. The tokenized bitcoin, which will enable users to mint 1:1 bitcoin-backed assets onto Polkadot, is being...Read More
Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice After testing the resistance level at $11,731 on 13 October, the prevailing market trend took the world’s largest cryptocurrency well below $11,500. While the movement in question should have been minor, later corrections took...Read More
The financial regulating body, New York State Department of Financial Services (NYDFS) said that the “double your money with bitcoin” scam as a result of the infamous Twitter hack on July 15 led to “weaponization” of major social media companies. The policymakers have called for strong cybersecurity to curb such events. NYDFS claimed that in...Read More
Cryptocurrency asset manager Grayscale Investments published its third-quarter investment report, according to which the firm has raised $1.05 billion into its investment products, marking this their largest capital inflow in a single quarter ever. Dropping our latest Digital Asset Investment Report this morning…@Grayscale raised over $1 billion into our family of products in 3Q20!! a...Read More
Bitcoin’s price might hit $15,000 in the next few weeks, as per price data gathered over the last week. This surge might push bitcoin past the pesky $12,000 and hit highs last seen in 2018. The bitcoin surge seen over the last week is being underestimated by most of crypto Twitter [CT]. However, most of...Read More
Bank of England Governor, Andrew Bailey, has yet again dismissed the premium cryptocurrency, Bitcoin. He stated that he found it hard to see how Bitcoin had any intrinsic value. On Monday, the Bank of England held a question and answer session with members of the public, during which Governor Bailey made a statement: I have...Read More
Bitcoin’s price has gained by 7.33% in the last 7 days. With this kind of momentum building up, Open Interest on derivatives exchanges is up too. However, that’s not the only interesting bit. In fact, while aggregate Open Interest on derivatives exchanges is up by 18%, on Huobi, it is up by 250% over the...Read More
Cybercrime gangs have stolen over to $22 million from users who use the Electrum Bitcoin wallets via a fake app update scam according to an investigation. The criminals later transferred the stolen funds to multiple Bitcoin accounts which now contain 1,980 bitcoin. Much of these funds were stolen in one single incident in August, after...Read More
The 2020 market crash was godsent for the likes of Bitcoin and gold. These ‘safe-haven’ assets surged under the spotlight, climbing to record highs as stock markets and long-term treasury bonds both collapsed and countries reacted by slashing interest rates. The main reasons for buying these assets were immediately enhanced, and the price reacted as...Read More
The market cap of Bitcoin was $210 billion, at the time of writing. Would it be a long shot to say that Bitcoin will overtake Google [$1 trillion] and perhaps, even Apple [$2 trillion], in terms of market cap very soon? Well, probably not. A few years ago, the same idea would have seemed completely...Read More
When volatility is low and the market sentiment is neutral, copy trading may be the best bet for retail traders. Social trading platforms have been around for a while, however, they are even more relevant now. Consider this – Finance Illustrated recently released a list of the top traders on the social trading platform, eToro....Read More
Bitcoin registered a strong surge in price over the last few days, with the world’s largest crypto finally surpassing its $11k resistance to be valued at $11,363, at press time. However, the altcoin market too has been noting strong growth on the charts. Source: Coinstats Chainlink has been one of these alts, with LINK climbing...Read More
Bitcoin’s search results on Google are one of the hottest topics in the correlation narrative. You have for long read stories of Bitcoin’s correlation with gold, with the S&P 500, or specific tech stocks in particular – like Apple. However, this one is different because when you zoom out, it all starts blending in. In...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 surged by 8% over the last 48 hours, a figure that is not really uncommon to a volatile asset like Bitcoin. However, the surge included 2-3% candles with consolidation separating them. At...Read More
There are only three reasons why you take pleasure in an asset’s price fall. Either, you shorted it, knew it would tank, and didn’t buy it, or you enjoy seeing it lose value. In the Bitcoin market, or should we say the anti-Bitcoin market, this sentiment is quite popular. Given the deep disruptive nature of...Read More
Bitcoin’s adoption narrative over the past few years has been rather promising. With institutional investors stepping in along with more regulatory and tax clarity for digital assets and the larger crypto-market, 2020 has seen renewed interest in assets like Bitcoin. This has led to some of the suspicions surrounding crypto being debunked, while also contributing...Read More
Bitcoin’s value proposition as the go-to store of value asset has resonated fairly well. Alas, the intrinsic qualities that enable it to perform as a store of value on such a decentralized level have acted as a barrier to it taking off as a revolutionary payment system. Over the past week, Bitcoin has seen its...Read More
If you haven’t turned a profit in a while, well, you are not alone. In fact, a recent study by Brazil’s University of São Paulo found that of the share market day traders who persisted for more than 300 days, 97% of them lost money. Further, the study found that the top day trader among...Read More
Unlike a Bitcoin proponent, Gold bugs never say ‘you should’ve bought the gold dip.’ Have you ever wondered why? The immediate answer would be Bitcoin is volatile, it’s up today, down tomorrow. On some days, it’s down by 50 percent or more, those are days when you should’ve bought the dip. On the other hand,...Read More
Bitcoin, the world’s largest cryptocurrency, seemed to be on a bullish trajectory yet again, at the time of writing. This, despite the fact that for long, BTC has been accused of being either too volatile or moving too sideways. While the analysis drawn out over the past few months has alternated between derivatives impact, on-chain...Read More
CEO and co-founder of Blockstack, Muneeb Ali published an earnings model in a blog today that outlined how STX holders can estimate potential earnings when Stacks 2.0 launches on mainnet. Ali added that Stacks 2.0 will continue to use the proof-of-transfer (PoX) consensus protocol, currently in use on its testnet version. Moreover, the POX algorithm...Read More
The Bitcoin market seemed to be consolidating again, following the trend it last witnessed back in June-July 2020. Generally, long-term investors consider the interpretation of the market as noise, but for derivatives traders, this could be the time to pay attention as contracts roll and Options expire. The Chicago Mercantile Exchange was in the news...Read More
Bitcoin and Gold, just a few weeks ago, were noting what some would call “unnaturally high” levels of correlation– a figure of 73.6%. However, the said correlation soon dipped on the charts, with the BTC-Gold correlation registering a figure of -28%, at the time of writing. Source: Skew That’s not all, either, since at the...Read More
It is a known fact that Bitcoin has wiped the floor with all the other traditional assets in 2020. High turbulence notwithstanding, Bitcoin was still up by 48 percent at press time, a figure that was higher than Gold, the S&P 500, and WTI. Interestingly, one particular asset class has been rubbing shoulders with the...Read More
