After trading below $11,000 for weeks, Bitcoin finally broke above that psychological level with a 5% increase in the past 24 hours. The altcoins have come along for the ride, and the market cap has jumped by nearly $20 billion since yesterday. Bitcoin Breaks Above $11,000 Bitcoin was steadily increasing in the past few days...Read More
As a part of an active Bitcoin and cryptocurrency education/awareness campaign, 350 members of the Spanish parliament (read deputies of Congress) have received a euro worth of BTC. This move mirrors the ‘Crypto for Congress Educational Initiative’ launched by the Washington-based Chamber of Digital Commerce to acquaint Members of the United States Congress with blockchain...Read More
Another week has passed, and it’s safe to say it was an intense one. First things first, the major headline is that the US Commodity and Futures Trading Commission (CFTC) charged the owner-operators of 100x Group, the parent company of BitMEX, with illegally running a derivatives exchange. Needless to say, BitMEX is one of the...Read More
Bitcoin Bitcoin saw a 5.6% price increase over the past seven days as it finally breaks above the $11,000. The cryptocurrency was trading within a symmetrical triangle pattern since mid-September and struggled to break above this consolidation until yesterday. BTC was trading at the 100-days EMA last Friday as it rebounded from here and started...Read More
Bitcoin’s hashrate, or computing horsepower, has hit its highest ever level indicating that the network has never been in better shape in terms of security. Hashrate High The new milestone of 170 exahashes per second was noted by on-chain analytics provider Glassnode which added that it is a 40% increase since the halving in May....Read More
Following yesterday’s announcement that Square has purchased $50 million worth of Bitcoin, the asset has reacted with a significant price jump to $10,900. Most altcoins have followed suit and the cryptocurrency market cap has increased by $12 billion. Bitcoin To $10,900 Due To Square? Bitcoin was in a bit of a pickle in the past...Read More
Bitcoin’s price has managed to climb $300 today and break bullish out of a 19-day consolidation pattern (white dashed lines). This is pretty surprising considering the recent Kucoin hack, BitMEX investigation from the CFTC, and the potential for a second wave of lockdowns worldwide. In just 6 hours, $12 billion flooded back into the crypto...Read More
Noted on-chain market analyst Willy Woo is of the opinion that Bitcoin’s network fundamentals including blockchain data and infrastructural metrics are going pretty strong. But the BTC market has still not caught up on this ‘moon-like’ action. Willy believes it will, only next year. Bitcoin On-chain Data And Metrics From Infrastructure Players are in ‘Moon...Read More
Financial services company Square has announced that it has purchased $50 million in Bitcoin. The company headed by Twitter’s Jack Dorsey, says that it believes that cryptocurrencies are an instrument of “economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. Today, @Square announced that it...Read More
Before implementing the ban on cryptocurrency derivatives sales in the UK for retail investors, the FCA asked over 500 firms, trade bodies, and competent authorities on their opinion. Interestingly, the results decisively concluded that 97% of all participants didn’t agree with the prohibition. 97% Oppose The FCA Crypto Derivatives Ban UK’s watchdog, the Financial Conduct...Read More
Unocoin is one of the earliest exchanges to enter the Indian cryptocurrency arena in 2013. And now the crypto trading platform has received funding from billionaire and bitcoin bull Tim Draper. The Series A round which raised $5 million was led by Draper Associates. 2020 Ventures and crypto-focused VC firm XBTO Ventures also participated in...Read More
Major cryptocurrency exchange KuCoin has resumed deposits and withdrawals of some cryptocurrencies after the platform recently suffered a substantial hack. BTC, ETH, and USDT Withdrawal and Deposit Services Now Available According to an official announcement on October 7, KuCoin revealed that it reopened deposit and withdrawal functions for crypto tokens Bitcoin (BTC), Ether (ETH), and...Read More
Bitcoin has charted minor gains in the past 24 hours by following Wall Street once again. Most large-cap altcoins have remained calm with Ethereum hovering around $340 and Ripple trading at $0.245. Bitcoin Steadily Follows US Stocks The primary cryptocurrency headed south yesterday and dipped to $10,525. Although Bitcoin started recovering rather rapidly, it dropped...Read More
Bitcoin has had a slow last few weeks, that’s for sure. It appears that the cryptocurrency is trading within a narrow range, unable to swing convincingly in either direction. This is reflected in its historic volatility, which has been falling quite a bit. In fact, it’s currently at a point where, usually, a huge move...Read More
Bitcoin price appears to be tracking in another classic whale manipulation pattern right now, after yesterday’s sharp $200 crash during the US trading session. The details of this pattern have already been covered extensively in a previous analysis, but for those of you not familiar, it essentially represents a strategy employed by large BTC traders...Read More
Social Capital CEO Chamath Palihapitiya doubled-down on his belief that Bitcoin investors should separate themselves from short-term price actions. He asserted that BTC operates in opposite to other financial assets and helps him sleep “soundly” at night. Palihapitiya: Bitcoin Is Fundamentally Different The former Facebook executive has been a long-time Bitcoin proponent. Earlier this year,...Read More
Bitcoin has failed to sustain its recent bullish run and has dropped to approximately $10,600. Most alternative coins have mimicked BTC’s move, resulting in a $10 billion loss from the total market cap. Bitcoin Fails At $10,800 As reported yesterday, Bitcoin had reacted positively on news that US President Donald Trump left the hospital after...Read More
On the back of remarkably fast recovery from the virus which has taken over 210,000 American lives, President Donald Trump abruptly ended talks with Speaker Nancy Pelosi and Democratic leaders over new economic aid packages. All three major U.S. stock indexes lost solid gains from earlier in the day and fell into negative territory after...Read More
The United Kingdom Financial Conduct Authority plans to ban cryptocurrency derivatives and exchange-traded notes (ETNs) to retail customers from January 6th, 2021. The FCA statement described such products as “ill-suited for retail customers due to the harm they pose.” The regulator outlined that retail customers are unable to determine a reliable value because of several...Read More
The world’s first cryptocurrency, Bitcoin, could have a $100,000 price tag 5 years from now, Bloomberg senior commodity strategist, Mike McGlone said. BTC has an illustrious history of adding more zeros to its value since 2011. This trend could continue well into the future. Also, the first cryptocurrency could attain a $14,000 price by the...Read More
Over the past 24 hours, Bitcoin has continued to rise in value gradually and now sits above $10,750. The price increase follows impressive gains registered on Wall Street during yesterday’s trading session, after news that US President Trump has returned to the White House. Bitcoin Follows Stocks Up As CryptoPotato reported yesterday, Bitcoin touched $10,750...Read More
Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance. CFTC Charges Against BitMEX Owners As CryptoPotato reported last week, the US Commodities and Futures Trading...Read More
October 15th is approaching, and that’s the latest deadline for submitting a rehabilitation plan for reimbursing the Mt. Gox creditors. With them claiming over 150,000 bitcoins, which is about 15% of the total value owed to creditors, the community speculates on the potential market impact. October 15th: What You Need to Know The Mt. Gox...Read More
Despite some fears that Bitcoin and the US stock futures could drop following US President Trump’s hospitalization, the markets have remained calm. In fact, BTC and some altcoins have marked minor gains, and the market cap has increased by about $6 billion in a day. Trump Hospital Release And Stimulus Affect Bitcoin? As reported yesterday,...Read More
Trump may not like crypto, but the crypto-verse sure doesn’t miss a chance to mess with him. As proof that anything can be tokenized – no matter how trivial or influential – a derivative has just appeared on Uniswap to track the President’s health: Please welcome the Trump Health Index (THI). Little is known about...Read More
Bitcoin has stayed in a relatively tight range between $10,500 and $10,600. Most large-cap altcoins performed similarly, except for Binance Coin. After a 9% increase for the week, BNB now occupies the 5th spot in terms of total market cap. Bitcoin Remains In A Tight Range Following the recent price declines from Friday and early...Read More
For the past month, BTC’s volatility had decreased compared to the previous months. The primary cryptocurrency had mainly traded inside a $1K range between $10,000 and $11,000. Over the past week, Bitcoin reached the upper boundary of that range at $11K; however, the news coming from BitMEX charged by CFTC, along with President Trump’s hospitalization,...Read More
Despite numerous reports indicating that Bitcoin HODLers are on the rise, a recent survey revealed the opposite. About 70% of participants that own digital assets answered that they had used them to make purchases such as food, clothing, and even education. Crypto Users Actually Spend Their Holdings BlockCard partnered with Bitcoin Market Journal to survey...Read More
After losing more than $250 million worth of cryptocurrencies in a security incident on September 26, KuCoin may have found new evidence to identify those responsible for the hack. It’s been exactly one week since Singapore-based cryptocurrency exchange KuCoin suffered what would be the third-largest hack in the history of crypto. And now, the exchange...Read More
According to a recent poll by the creator of the popular Bitcoin stock-to-flow model, the majority of participants believe that BTC’s price will either hit $55,000 or stay below it by the end of 2021. Backstory: Bitcoin Stock-To-Flow Model(s) A cryptocurrency analyst going by the Twitter handle PlanB revealed the first version of the BTC...Read More
