Jefferies analyst Brent Thill downgraded the software analytics provider to “underperform” from “hold” as the ongoing crypto shambles failed to demonstrate strong signals for a market reversal. The downgrade that categorized the stock from “hold” to “underperformance” maintained its price target at $180. Following the news and bitcoin dipping below $21,000 on Tuesday, shares of...Read More
XP Inc. – one of Brazil’s largest brokerage companies – expects to release its cryptocurrency platform by the middle of August 2022. Initially, the entity will allow trading with bitcoin (BTC) and ether (ETH), while it could add more digital assets later in the year. Crypto’s Decline Is Not a Concern to XP In May...Read More
After Bitcoin lost its crucial price level of $22,000 at the start of this week, the entire crypto space seems to be following it on its downward plunge. This price movement has influenced the global crypto market capitalization to fall below $1 trillion. A popular analyst and trader, Tone Vays, believes that Bitcoin will see...Read More
As the primary cryptocurrency hovers around $21,000, retracing back from the weeks-high level at $24,100, experts across the industry remain cautious in regards to its upcoming price action. However, emerging signs have indicated that the asset’s price has found a cyclical bottom, reported Bloomberg. A Cautious Attitude In Reign Among Experts The relief rally in...Read More
Since May, 2022, after Terra (LUNA) collapse, the crypto market is not in that good condition with an increase in negative news around the space. Even now, the overall crypto market sentiment is not positive with the increased price volatility along with declining interest in terms of Crypto derivatives. As per the report, in the...Read More
Elon Musk’s car manufacturer Tesla recorded a $170 million impairment charge for Bitcoin on its balance sheet during the first half of 2022. It also netted $64 million in gains from certain sales of the asset. The information comes attached to a 10-Q SEC filing from Monday. Tesla explained that it may make “no upward...Read More
In a recent Twitter thread, Arcane Research analyst Vetle Lunde revealed how many Bitcoin institutional investors had sold since Terra’s carnage kicked in, thus tanking the whole crypto market. In his estimate, Tesla sold 29,060 BTC at an average price of $32,209 in May. Forced Selling In Lunde’s view, massive institutional blow-ups in the past...Read More
Binance CEO CZ Zhao does not think anyone selling or buying Bitcoin can fundamentally impact the asset – even including Tesla CEO Elon Musk. To demonstrate his faith in the primary cryptocurrency, CZ said he is still holding most of the coins he bought when he just entered the industry. On Tesla’s Bitcoin Dump Commenting...Read More
When the data of Bitcoin mining difficulty is considered, there is a drastic drop from July 2021. As per the data, yesterday, on July 22, the Bitcoin mining difficulty has seen a drop of nearly 5%. This significant drop has in turn reduced the competition between miners for rewards. The same percentage of decline was...Read More
Famous American financier Anthony Scaramucci has admitted that having massive exposure to Bitcoin was a mistake in the short run, as he and his investment company suffered significant losses amid the bear market. Bullish on Bitcoin in the Long-term In his latest CNBC interview, Scaramucci noted that while his Bitcoin exposure via his investment firm,...Read More
It appears like the wider cryptocurrency market will close the weekend on a bullish note as the global crypto market is up by 2.15% position at $1.05 trillion. The overall crypto market is flagged green as the leading cryptocurrency, Bitcoin has reclaimed its $23,000 range. Even Ethereum, the second largest cryptocurrency by market cap, has...Read More
One such is the Bitcoin proponent and Blockstream CEO Adam Back, who said CBDCs are worse than bank accounts. In the latest tweet, Back vouched for Bitcoin as an “apolitical, bearer, unseizable money” and argued that CBDCs, on the other hand, are “systems of control.” Bitcoin as Money Back went on to add that the...Read More
Finnish customs have reportedly 1,889.1 BTC with the help of two brokers, gaining over 46.5 million euros (over $47 million). Selling Seized Bitcoins According to the official announcement, the customs seized the funds during drug busts and had been legally forfeited to the state following court rulings. The bulk of the digital assets in various...Read More
Though the overall cryptocurrency market has entered the recovery phase, the global market capitalization has plunged by 1.73% in the last 24hrs. The leading cryptocurrency, Bitcoin, is striving to get back to its $23,000 price levels. This bear pull movement has made the traders and investors anxious about the future price action of Bitcoin. A...Read More
Around the Block sheds light on key trends in crypto. Written by Connor Dempsey, sourced from the work and insights from the entire team at Coinbase Ventures & Corp Dev TLDR: Coinbase Ventures deal activity reflected the overall pace of the venture landscape, down 34% QoQ. Activity remained up 68% YoY, reflecting the steady growth...Read More
Today, the global cryptocurrency market has opened on a bearish note as major cryptocurrencies signaled red. The lead cryptocurrency, Bitcoin, had claimed the $24,000 price area in the early hours yesterday before declining and losing its $23,000 range, while Ethereum has lost the $15,000 level once again. The recent gains were witnessed after a short...Read More
The electric vehicle giant Tesla sold $936 million of its bitcoin holdings in Q2 this year. However, the move was prompted not because the company does not believe in the asset anymore, but because of the record production costs in China due to the last COVID-19 lockdown, CEO Elon Musk explained. Earlier this week, the...Read More
Third-largest Bitcoin whale has finally emptied its BTC holdings after demonstrating a long-term accumulation trend. As per BitInfoCharts, the whale bought a total of more than 207k BTC since 2019 before transferring all of it. The move coincided with Bitcoin posting gains for three straight days before topping $24,000, the highest level since mid-June. Over...Read More
According to Tesla’s Q2 2022 earnings report released on Tuesday, the car manufacturer has sold almost all of its Bitcoin into fiat currency. The selloff netted the company an additional $936 million in cash for its balance sheet. As reads the report, Tesla “converted approximately 75% of [its] Bitcoin purchases into fiat currency,” as of...Read More
The Thailand-based cryptocurrency platform – Zipmex – froze clients’ withdrawals citing volatile market conditions. It remains unknown when the company will restore the service. The latest firm in the cryptocurrency field to reveal issues on its platform is the Thai exchange Zipmex. In a recent tweet, it disclosed that users are not allowed to make...Read More
As Bitcoin spiked through the resistant level of $23,000 after dipping below $19,000 recently, many expected that the breakout signaled a short-term relief rally. Glassnode’s weekly report predicts that the primary cryptocurrency is forming a “genuine bottom” as its current realized value is around $22,000. In the meantime, on-chain data has shown that the unrealized...Read More
Terra Classic (LUNC) Price Analysis Terra Classic after a long time has displayed a significant bullish divergence while the bears attempt very hard to restrict the price lower. Despite the market sentiments thriving, no growth in the volume is recorded in recent times. Therefore, this is compelling the price to remain consolidated within the narrow...Read More
Edward Dowd – former Managing Director at BlackRock – thinks that bitcoin will be a much more stable asset once the bear market is over. He described it as “the Amazon of the crypto era,” predicting it will hold a spot in everyone’s portfolio in the future. The Crypto Winter Will Not Defeat Bitcoin The...Read More
Bitcoin price ever since the beginning of July has displayed immense strength that uplifted the price beyond $22,000 for the second consecutive time in the past fortnight. While the asset was expected to hit $23,000 to secure the mandatory resistance, the bears intensify their activity to keep the price restricted below $22,100. On the other...Read More
In its latest Insight report, the world’s largest digital asset manager, Grayscale Investments, compared the current bear market with other market cycles in crypto history to predict when the next bull run could arrive. The Crypto Market Cycles Grayscale noted that, like traditional markets, the cryptocurrency space is cyclical, and the industry is currently experiencing...Read More
Bitcoin is garnering interest from the oil and gas industry and is spiking concern for using renewable energy for operations. Sad State Of BTC Mining The “cost to mine Bitcoin” in the United States has recently caused a movement in the BTC price that has attracted interest from the crypto world, particularly because BTC miners...Read More
Long-term bitcoin holders have not disposed of their holdings into the market weakness as short-term speculators are mainly responsible for the heavy selling that exacerbates the asset’s nosedive, according to Coinbase’s latest monthly report. Miners and crypto firms that are forced to liquidate their positions to stay solvent amid a liquidity exodus have shown that...Read More
The crypto space appears to be preparing for a bearish weekend as most of the assets are on the verge to experience a significant drop. The Bitcoin price is currently swinging around $20,500 and the global crypto market capitalization also has witnessed a slight growth that may keep up a bullish momentum alive. Therefore, some...Read More
Bitcoin (BTC) Price Analysis Bitcoin price is currently hovering within an uncharted area where-in both the possibilities of a rebound and a drastic plunge is making their way out. On the other hand, the volume also appears to have been equally distributed among the bulls and the bears. Therefore in case, anyone gets exhausted, the...Read More
BitMEX Research recently published a report detailing why Ethereum has dwarfed Bitcoin as the center of Dapp and developer activity within crypto. While there are technical reasons for the discrepancy, the team claims that Bitcoin developer culture prior to Ethereum’s launch drove alternative use cases away from its ecosystem. The OP_Return Controversy The report explores...Read More
