Elvira Nabiullina – the Chief of Russia’s Central Bank – sounded a note of caution for investors to beware of the risks in the crypto market. She opined that digital assets are very volatile and warned investors to be wary of ”appalling” losses. Do Not Get Involved in Crypto The head of the Russian Central...Read More
UK authorities have made one of the largest seizures of cryptocurrency assets worth more than $190 million. Specialists detectives from the Met’s Economic Crime Command confiscated the funds after investigations on money laundering. UK Authorities Seize $140M in Crypto According to a press release from the Met’s Economic Crime Command, the local authorities made the...Read More
The number of open shorts positions on leading cryptocurrency and derivatives exchange BitFinex is at a two-year high as bitcoin price returns to the monthly lows amid $30K. The current amount of shorts is the highest since June 17, 2019, forcing more traders to wonder whether BTC is set for further dips, which may lead...Read More
Vocal Bitcoin bull Meltem Demirors believes that the ongoing crypto decline is just an ordinary correction, which would wipe out investors with ”paper hands.” She reminded that the primary digital asset has always been volatile and assured that it is ”here to stay.” ‘You Can’t Have a Number Go Up Forever.’ The current situation in...Read More
A survey conducted by the American multinational investment bank JPMorgan Chase & Co. revealed that most big investors do not find the crypto market appealing as only 10% of the participants asserted they trade digital assets. Moreover, 30% of the people agreed with Warren Buffett’s opinion that BTC is a ”rat poison.” The American Institutional...Read More
Another weekend starts with another adverse price movement for bitcoin as the asset dropped by several thousand dollars to below $31,000. The alternative coins are also deep in red, with ETH dumping below $1,800, and the total market cap has seen $160 billion gone in a day. Bitcoin Plummets Below $31,000 It’s almost becoming a...Read More
During a recent interview with Bloomberg, the prominent BTC bull spoke about the adverse short-term effects of China’s recent crackdown on Bitcoin mining. While he acknowledged the hash rate and price declines, Saylor believes this ‘mistake’ from the Asian country will provide an excellent opportunity for others. As CryptoPotato reported previously, the world’s most populated...Read More
Unfortunately, it was another challenging week in the cryptocurrency market, though this can only be said about the developments in terms of price. Elsewhere – adoption seems to be booming, especially when it comes to Bitcoin. Starting off with the price – bitcoin is currently trading at around $33,000, down about 13% in the past...Read More
This week was a complete rollercoaster in the cryptocurrency market. Unfortunately, things failed to turn out for the better and the majority is trading in the red. Bitcoin Bitcoin is down a steep 11.7% this week as it currently trades beneath $34,000. The cryptocurrency started the week by dropping into support at $31,185 (downside 1.618...Read More
After laughing at Jack Dorsey’s proposition for a Bitcoin conference earlier, Elon Musk has actually agreed to a BTC conversation with the CEO of Twitter at the event. As reported earlier, Elon Musk likes to have fun with the cryptocurrency community. Perhaps that’s why he initially laughed at Jack Dorsey’s most recent Bitcoin endeavor. The...Read More
The CEO of Tesla, SpaceX, and The Boring Company, has taken another humoristic stab at BTC maxis by asking how many are needed to change a light bulb. The wave of comments didn’t disappoint from names like Michael Saylor, Dan Held, Raoul Pal, and more. Ever since the start of the year when Musk said...Read More
The number of US city mayors, whether current or running, supporting bitcoin continues to grow. After Miami’s Francis Suarez, the favorite to win the race in New York City, Eric Adams, promised to make NYC different in a year, including becoming the “center of bitcoins.” BTC Going to NYC? Running as a Democrat, Eric Adams...Read More
With BTC’s price going through a severe correction this week, reaching a near six-month low, the question arisen within the community if we have officially entered a bear market. Dumping to more than 50% south from its peak, which came just two months ago, certainly has some arguing that the bears are indeed in control....Read More
Over the past month, since the May-19 price collapse, BTC had been trading inside a range between $30K from below and $42K from above. Last Tuesday, Bitcoin broke below the range, and for the first time since January 2021, traded beneath $30K. This lasted only for two hours before bulls stepped in for a heavy...Read More
The cryptocurrency investment company in Cape Town, South Africa – Africrypt – allegedly stole nearly 70,000 bitcoins. The two brothers Ameer and Raees Cajee, who are the founders of the firm, have disappeared. The Biggest Crypto Scam in South Africa Bloomberg reported that the customers of the South African trading venue – Africrypt – became...Read More
Although bitcoin recovered several thousand dollars after its mid-week crash, JPMorgan strategists still envision a bearish future for the asset. In their latest memo on its performance, they touched upon the upcoming unlocking of GBTC shares, which could drive the cryptocurrency down to $25,000. GBTC Shares to Play a Crucial Role Led by Nikolaos Panigirtzoglou,...Read More
The latest price correction that drove bitcoin to its lowest position in nearly six months put the asset “very close” to the bottom, argued analysts from the crypto-oriented company Stack Funds. However, they warned of potentially high volatility in the following weeks due to the expiring quarterly BTC options and the unlocking of GBTC in...Read More
Bitcoin whales have used the recent price dump as an opportunity to accumulate more BTC according to on-chain data. This came as the cryptocurrency dumped below $29,000 following substantial sell-offs from large players. Bitcoin Whales Bought the Dip? BTC whales represent large wallets that contain between 100 and 10,000 bitcoins, and their role in the...Read More
Michael Novogratz – the CEO of Galaxy Digital – shared another positive forecast for the future of the primary digital asset. Despite the ongoing crypto crash, he still looks at bitcoin as the better version of gold. ”I’m Still a Big Buyer of Bitcoin” The billionaire founder and head of Galaxy Digital – Mike Novogratz...Read More
No boring days in crypto as bitcoin went through a roller-coaster with a few thousand-dollar moves down and up. The alternative coins also recovered some of the losses, with the entire market cap regaining $200 billion since yesterday’s low. Bitcoin Reclaims More Than $5K It all seemed calm during the weekend when BTC stood in...Read More
Despite bouncing off and recovering several thousand dollars in a day, bitcoin could still be primed for more adverse price movement, says on-chain data. Furthermore, a popular analyst pointed out that BTC could be on its way to bottoming around $24,000. Short-Term BTC Reserves Says Bearish The past 48 hours were highly turbulent for the...Read More
The Bitcoin rollercoaster continues after the price dropped by a precipitous 14% from today’s high of $33,250 to reach as low as $28,600. After hitting this level, the cryptocurrency quickly rebounded back above $32,000 liquidating a huge amount of long then short positions. Yesterday, it seemed like the critical support of $31.7K was holding, however,...Read More
Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities. According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to...Read More
Jan van Eck, the CEO of the giant investment manager, VanEck, has asserted that the firm’s customers have a growing appetite for a Bitcoin ETF. This comes amid the company’s frequent attempt to have an exchange-traded product approved in the US. During a recent interview with CNBC, van Eck spoke about the company’s plans to...Read More
The consequences of the nationwide Chinese crackdown on Bitcoin mining are more than evident in a few short weeks. The hashrate has dropped dramatically by nearly 50% from its peak, the number of daily issued coins has declined, and the Puell Multiple has reached a multi-month low. The Effects of the Chinese Crackdown Although Bitcoin...Read More
Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000. Bitcoin’s price is currently trading below $30,000. This hasn’t happened in months as the last time we saw these levels was in January 2021. BTC/USD. Source: TradingView Other cryptocurrencies are also following suit with most of the...Read More
Bitcoin’s price continues to lose ground, and it dropped to just over $31,000 hours ago. However, its dominance over the market has increased to a monthly high as most alternative coins have dumped by double digits. Bitcoin Dominance on the Rise Despite the Correction As CryptoPotato reported over the weekend, BTC had recovered some of...Read More
Jim Cramer made the revelation on June 21 during an interview with CNBC’s Squawk Box, in which he cited a number of reasons for his decision to sell. “Sold almost all of my bitcoin. Don’t need it,” Cramer said, citing China’s mining crackdown as the primary reason. He acknowledged that Bitcoin is a direct threat...Read More
The arrival of the death cross does not seem to scare Michael Saylor, who bought $500 million just when this terrifying pattern was forming. But Michael Saylor is not the only one who thinks so. Ricardo Salinas Pliego, the third richest man in Mexico, also believes that Bitcoin is an excellent investment. During an interview...Read More
Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist. The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st. It came after the...Read More
