Octagon Networks – a cyber security company headquartered in Addis Ababa – converted its entire balance sheet and all its liquid assets into the primary cryptocurrency. In addition, it embraced bitcoin as a payment method for its services. ‘Bitcoin Will Lead the World Toward a Better Future’ The Ethiopia-based Octagon Networks declared its firm support...Read More
One of the most successful Brazilian soccer clubs – Sao Paulo – allowed its fans to purchase match tickets with cryptocurrencies, becoming the first team in the country to do so. Diving Deeper Into Crypto’s Universe The 22-time winner of Brazil’s top soccer league – Sao Paulo – teamed up with the cryptocurrency exchange Bitso...Read More
It is a known fact that Bitcoin is the most dominant crypto in the market, sharing nearly 50% of the global market capitalization. The asset surged more than 6% in the past 24 hours, regaining the lost positions above $31,000. However, when the BTC prices were cemented around $30,000 for almost a month now, will...Read More
A recent study conducted by The Economist estimated that 37% of the participants want their governments to declare bitcoin or other cryptocurrencies as legal tender for internal transactions. Central bank digital currencies (CBDCs) are also favored as 37% will agree if their countries’ authorities issue such a financial product. Following El Salvador’s Steps? The popular...Read More
Prior to the pandemic, Bitcoin appealed to many as an inflationary hedge due to its low (near zero) correlation with traditional assets such as stocks. However, in recent times, the narrative has taken a 180° turn, owing to macroeconomics shifts. According to a report by 21Shares, Bitcoin and the S&P 500 moved in sync, with...Read More
The popular restaurant chain – Chipotle Mexican Grill – collaborated with Flexa to allow clients to pay their bills in cryptocurrencies. The offering is available in all nearly 3,000 company locations in the United States. In addition, the luxurious hotel located in Dubai – The Manor Hotel by JA – also plans to enable payments...Read More
Currently Bitcoin is trading at an average price of $29,700, and Around $1.3 billion Bitcoin outflow has been reported by Glassnode, net outflow standing at $698 million. The global crypto market is down by 2% from the last 24 hours, standing at $1.23 trillion. The Bitcoin recorded again is dropping to the lowest by dropping...Read More
The crypto space, ever since the beginning of 2022 trade, displayed its misty behavior and due to which many traders still remain aloof. Just after a minor spike, most of the assets experience a drastic dip, whipping out the gains of the past couple of days. Therefore, now that the bears appear to have become...Read More
Bitcoin’s price has risen by over 8% in the last seven days, going beyond $31,000 over the weekend. On Tuesday, it was trading near $32,000, a considerable gain from earlier month’s six-month low. It’s worth noting that this is the first time bitcoin has surpassed $31,000 since early May. Over the previous two weeks, its...Read More
Dawn Fitzpatrick – CEO and CIO at Soros Fund Management – doubled down on her pro-crypto stance, predicting the asset class is “here to stay.” She believes that climate impact will play a vital role in the industry, and as such, Ethereum “is likely to gain some more traction than Bitcoin.” Ethereum to Outperform Bitcoin?...Read More
Cryptocurrency markets have been quite volatile since November of 2021. With the prices of various cryptocurrencies rising drastically over Q4 2021 and continuing their bearish momentum for the first half of 2022, there’s no doubt that the volatility has impacted traders’ mental health. However, while most traders and investors can survive a slow and painful...Read More
Experts feel that more is yet to come as Bitcoin’s price action has begun to attract investors following a three-week slowdown. BTC’s price has risen from a low of $30,329 in under 24 hours to $31,949, the highest level since May 11. The bullish momentum sparked a debate about whether Bitcoin had already bottomed out....Read More
The broader crypto market has rebounded, with Bitcoin climbing back to $31,000 and beyond. Ethereum is attempting to break through the $2k barrier. After nine consecutive weeks of losses for Bitcoin, the crypto market recovered remarkably. Due to Sentiments, the Market Is Dull Cryptocurrencies have traded like tech stocks rather than as a separate asset...Read More
Amidst the market-wide chaos, it is the mid-sized Bitcoin holders that have held on to the old investment adage of “buy the dip.” Data suggested that entities holding less than 100 BTC in their wallets appear to have raked in all of the dumped Bitcoins. Fetching Dumped Bitcoins The de-pegging of UST forced Luna Foundation...Read More
The star crypto after recording 8 strength red-weekly candles, Bitcoin ignited a bullish start for the week. The prices rebounded well from the bottom after a brief consolidation for a couple of days. The asset is expected to keep up the bullish momentum as it has broken the 20-day downtrend and he lowered resistance at...Read More
Bitcoin’s price fell far below $30,000 on Friday, and other cryptocurrencies were also trading in the red. Ethereum, the world’s second-largest cryptocurrency by market capitalization, has dropped more than 5%. The worldwide cryptocurrency market was down 4.46 percent over the previous day on Friday, May 27, and was at $1.19 trillion at the time of...Read More
The World Bank is concerned about the transparency and financial impact of the Central African Republic (CAR)’s adoption of Bitcoin as legal tender. It claims that it will be “physically impossible” to fund the nation’s first concrete crypto adoption initiative, which the president announced on Tuesday. Worry at the World Bank The World Bank has...Read More
El Salvador President Nayib Bukele has clarified that the nation’s Bitcoin law only mandated Bitcoin acceptance among large corporations, rather than small merchants. When the law took effect, its contentious Article 7 hadn’t actually been enforced on anyone. The Nature of Article 7 The Bitcoin law – which made Bitcoin legal tender in El Salvador...Read More
JP Morgan – one of the largest investment banks on Wall Street – sticks to its previous fair-value target for bitcoin at $38,000, meaning that the asset is currently being traded with a discount. The bank believes BTC could recover stronger than other beaten-down assets because it had fallen far deeper amid the correction period....Read More
A month after adopting Bitcoin as legal tender, the Central African Republic (CAR) announced its first-ever crypto initiative – the Sango Project – designed to attract business and enthusiasts, take the Bitcoin legacy to the next level, and establish a so-called crypto island Sango with the Metaverse-related elements. An Initiative Set to Attract Investors Worldwide...Read More
Bridgewater Associates founder Ray Dalio confirmed on Tuesday that a “tiny percentage” of his portfolio is allocated to Bitcoin. He acknowledged how it could play a special role in today’s worldwide inflationary environment, among a broader set of safe-haven assets. Cash is Still Trash In conversation with CNBC’s Andrew Sorkin, Dalio reiterated his “cash is...Read More
As BTC gets rejected from $30,000 and ETH slides below $2,000, the broader crypto market is deep in the red zone. As of now, half of the top 30 cryptocurrencies are 80% (or more) down from ATHs. Altcoins in Bloodbath After major cryptocurrencies hit ATHs last November, with Bitcoin touching the $69,000 level at one...Read More
With the price of bitcoin currently below $30,000, Scott Minerd, the chief investment officer of global investment giant Guggenheim Partners, believes BTC’s value could further dip to $8,000. Bitcoin Price Could Bottom at $8,000 Minerd made the bearish prediction on Monday (May 23, 2022), during an interview on CNBC’s Squawk Box at the World Economic...Read More
On May 22, the cryptocurrency community celebrates international Bitcoin Pizza Day. Less than two years after Satoshi Nakamoto published the nine-page Bitcoin whitepaper, Laszlo Hanyecz legitimized the use of cryptocurrency with the purchase of two pizzas for 10,000 BTC. Bitcoin Pizza Day There are thousands of cryptocurrencies, but Bitcoin, even to this day, remains an...Read More
The global crypto market cap increased by 1.83 percent to $1.26 trillion on May 22, indicating that most cryptocurrencies benefited. After failing to hold the $30,000 level, Bitcoin (BTC) has continued to decline. Volatility has decreased recently, implying that there will be fewer abrupt movements over the weekend. If the rate falls below $29,000, the...Read More
The condition of the global economy seems to be in a state of knockdown. The years of financial boom after the crisis in 2008 ended with the outbreak of the COVID-19 pandemic at the beginning of 2020. Social distancing measures and “stay-at-home” rules crippled production to a serious extent, while numerous central banks took the...Read More
Bitcoin price after trading above $30,000 for a couple of days, has now dropped below. And moreover, the less price variation within the asset has raised the speculation for lower levels to be hit in the upcoming days. A popular analyst, in a series of tweets, pens down the reasons why he believes BTC price...Read More
Bitcoin in the recent past faced a notable death cross and since then the prices have dropped massively by nearly 40% until the press time. Death cross usually refers to 200-day MA levels crossing the 50-day MA levels in a daily chart and heading towards the south. Often, this event is considered pretty bearish which...Read More
Riksbank – the central bank of Sweden – has joined a chorus of other monetary authorities in rejecting Bitcoin’s status as “currency”. It argues that cryptocurrencies are poor at serving the three primary roles of money, and more closely resemble assets instead. The Litmus Test for Money As Riksbank explained in a Twitter thread, proper...Read More
Cryptocurrency markets hold support exceptionally well this Friday as Bitcoin hovers at the $30k level and Ethereum manages to keep the $2k support line. Last night, Bitcoin rallied from $28k to a high of $30.1k as the global and US market sentiment is starting to stabilize. Many wonder whether the LUNA and UST debacle added...Read More
