While Bitcoin is surging like there’s no tomorrow, altcoins are doing nothing but bleed. Going by the popular adage “Buy when there’s blood on the streets,” let’s look for an investment opportunity in altcoins since they have been dropping since Bitcoin started its rally. For the purpose of the same, let’s determine if the market’s...Read More
When Elon Musk was breaking Crypto-Twitter with his Bitcoin memes, most retail traders were waiting for this banter to take Bitcoin’s price discovery to the next level. While this did not happen, when observed closely, it can be seen that this interesting Twitter thread is more than just friendly banter between the two billionaires, Saylor...Read More
MicroStrategy broke the silence when it invested in Bitcoin. It changed how institutions viewed Bitcoin from an investment perspective. From skeptics criticizing [critiquing] Michael Saylor and MicroStrategy’s investment decision to the very same people dipping their toes in Bitcoin investments, things have changed for the better in the last quarter. However, was MicroStrategy’s decision good?...Read More
Bitcoin’s price movements are critical to Bitcoin’s adoption and price trend, especially since many new traders are just entering the market on spot exchanges. While seasoned traders may be looking for a place to park funds, make trades, and identify the right exchange that facilitates such a trade, their trade decisions are based on key metrics...Read More
Price discovery beyond $20,000 was a pipe dream for both institutional and retail traders two weeks ago. Now, with Bitcoin trading at $23,511 at the time of writing, there is a lot of anticipation around further price discovery. Interestingly, Bitcoin’s mean transaction volume (2d MA) has fallen significantly in the past 24-hours, with the current...Read More
Bitcoin’s decoupling with Gold and its inverse relationship with stocks has been covered widely by mainstream media. The missing link is its impact on U.S Government bonds. Previously considered to be a non-issue, the negative yields on government bonds have got on-chain analysts and investors thinking about this perspective. Preston Pysh is one of them,...Read More
With Bitcoin trading above $23,000 emerging to become the new normal, institutions and Bitcoin whales are driving price discovery into previously unchartered territories on the price charts. This doesn’t come as a shock to maxis and on-chain analysts, however, with Willy Woo recently quoted as saying, “$100,000, I would rate as very conservative, probably overly...Read More
Ethereum clocked in a new price high for the year on the 17th of December, surging to $676 on the price charts. Soon after the new ATH was attained, however, the CME Group revealed a very important addition to its platform. According to an official announcement, the CME Group will be adding Ether Futures to...Read More
An interesting observation recently made by Willy Woo on the 18th of December 2020 was that over a period of 11.2 years, $1 invested in Gold appreciated to $1.82 whereas Bitcoin appreciated to $2,98,31,200. Now, there is enough literature associated with how Gold and Bitcoin are correlated and how the correlation drops periodically. However, this...Read More
When Bitcoin’s price crossed $23,000, the market volatility dropped. With Bitcoin’s price trading within its newly-discovered price range, it seemed to be closely bound to the $22,500-level. In fact, at the time of writing, Bitcoin was valued at well over $23,000. In such a scenario, $22,300 comes across as the support level, an observation supported...Read More
2020 is drawing to a close and is leaving us with another important milestone. On 16th December, Bitcoin reached a new all-time high in the charts, registering a valuation above $20,000. At press time, it was as high at $23,200 but surprisingly certain attributes of Bitcoin failed to register many distinctive changes. While the price...Read More
Mark Cuban, American television personality and entrepreneur, still remains unimpressed by the current Bitcoin rally. In a recent interview, the billionaire entrepreneur believed that a banana had more utility than the cryptocurrency. He said: BTC is what it is, something that enough people have agreed upon is an investable asset. A banana has more utility,...Read More
NiceHash announced completion of its repayment program after almost three years. The firm repaid 4,640 Bitcoins to its users who were targeted in the 2017 hack. The firm had expected to complete reimbursement sooner; however, poor crypto markets made it difficult for the company to do so. The repayment now coincided with the current Bitcoin...Read More
Some of Bitcoin’s narratives have become extremely popular over the past few months. Store of value, Digital Gold, etc. are some of them but recently, its characteristics as a hedge against inflation have taken new precedence. However, people fail to understand why Bitcoin has clarity in terms of inflation and the U.S dollar does not....Read More
Bitcoin breached its all-time-high earlier today, crossing $22,000 briefly, before dipping back down to levels around $21,800. It has now crossed $22,000 once more and was trading at $22,091 at the time of writing. Source: BTC/USD, TradingView The level of optimism around the world’s largest cryptocurrency was exceedingly high, as many in the crypto community...Read More
It looks like there’s no stopping Bitcoin, at least not today, after the world’s largest cryptocurrency breached the $21,000-mark within hours of breaching the $20,000-mark. At the time of writing, BTC was trading at a price of $21,274, having gained by 9.18% in the last 12 hours. Source: BTC/USD on TradingView The aforementioned developments came...Read More
Some users of two major crypto exchanges – Binance and Coinbase – reportedly experienced technical issues and were unable to log in to their accounts on the exchanges. Confirming the same, CEO of Binance ‘CZ’ took to Twitter to acknowledge the issues that surfaced in the past few hours: Still some latency issues here and...Read More
Bitcoin’s dominance is one of the biggest drivers behind its institutional interest and mainstream adoption. However, in anticipation of an altcoin rally, it was observed that Ethereum and XRP’s dominance rose 1.1% and 2.6% respectively, based on data from CoinGecko’s report. Against Bitcoin’s gradual price rally, Ethereum’s price increased by over 50% in November and...Read More
In an update that was sent to shareholders about the company’s performance this year, Ruffer Investment Company revealed its new Bitcoin investment strategy. Ruffer allocated what is currently worth approximately 2.5% of its multi-strategies fund to Bitcoin. This amounts to a $15 million purchase according to Alex Krüger an economist and a crypto analyst. However, the...Read More
When Gold’s price drops, does Bitcoin have something to do with it? Gold’s price dropped by over 1.5% today while Bitcoin was down by over 2%. Over the previous week, Gold’s price dropped by 0.69%, while Bitcoin’s price was down by 0.84%. While things are different over longer periods, both these assets are different. From...Read More
This article isn’t going to be one that talks about bitcoin’s deflationary model, its store of value, and how it is an uncorrelated asset that acts as a hedge in case of a crash in the traditional market. The article also doesn’t talk about bitcoin’s superior returns as compared to the long-standing assets in the...Read More
Bitcoin’s consolidation phase continues to take place at a higher trading range, with the price climbing back above $19,000 again. In fact, every time BTC has gone down below the $19k-mark, bearish concerns have resurfaced across the industry. Source: Coinstats This is the reason why the price re-discovering its position above $19k again is a...Read More
JP Morgan’s take on Bitcoin turned 360 degrees in 2020. This was understandable, however, as it wasn’t just Bitcoin’s price rally that caught the eye of institutional investors and banks, but it’s decoupling with gold too. According to one of the world’s biggest banking institutions JP Morgan Chase & Co., the rise of cryptocurrencies in...Read More
The current Bitcoin bull run, or more appropriately labeled ‘price rally,’ has been initiated by large investors and institutions, not by retail traders. It is evident from the trade volume and activity on spot exchanges that institutions are buying and HODLing. There are big spot buyers and the correction in Bitcoin’s price, like the recent...Read More
Bitcoin cycles have evolved over the past decade, a development that has been pretty similar to Bitcoin’s own evolution as an asset. Also obvious is the maturity of not just the market’s investors, but the perception of Bitcoin as an asset class. If 2020 has proved something, however, it is that Bitcoin is a resilient...Read More
With Bitcoin’s price dropping below $19,000, the focus has shifted from the world’s largest cryptocurrency to Ethereum and the rest of the market’s altcoins. Institutions that dabbled in Bitcoin since June 2020 are now discovering Ethereum following the launch of ETH 2.0. In fact, scalability issues faced by Ethereum might have well become a thing...Read More
The corrections in the U.S stock market earlier this week fueled a fear among many that a pullback in Bitcoin’s price may be incoming too. Such fears were later validated, with the crypto-asset trading below $18,500, at press time. Bitcoin has been in an unfavorable position since it dropped below $19,000. After the price dropped...Read More
After DeFi, “institutional investors” has probably been the buzzword for the crypto-market, especially following the likes of MicroStrategy and Square jumping in. Looking at institutions going on a Bitcoin buying spree, many analysts have had their say on what this means. Popular American computer scientist Paul Graham is the latest one after he tweeted, “Possible...Read More
Michael Saylor’s latest plans to raise cash for investing in Bitcoin may be controversial to the T. MicroStrategy’s treasury strategy is working as planned, and the timing of the move to buy Bitcoin and replace it as the treasury asset may have been the key driver of MicroStrategy’s growth in the first half of the...Read More
Bitcoin’s price has dropped by over 6% in the past seven days. The crypto-asset, at the time of writing, was trading at $18,368, falling fallen to as low as $17,800 before recovering. However, BTC’s press time price was still well below the $19,000-level from earlier in the week. So, where is Bitcoin headed? Is the...Read More
