Bit Digital – a NASDAQ-listed company, is to face a class-action lawsuit. A recent report by J Capital Research alleged the Bitcoin mining firm in “fake cryptocurrency business.” Impossible to Operate 22,869 Bitcoin Miners in China Bitcoin mining company Bit Digital is facing a class-action lawsuit on allegations of fraud and misleading its clients. According...Read More
Bitcoin’s price bounced back on the charts after undergoing yet another price correction, with the same settling above the $32,000-price level, at press time. In fact, after seeing its value fall by over 15 percent on the 20th of January, the coin was on its way to breach its immediate resistances at the $33,000 and...Read More
The volatility that drove Bitcoin’s price below $31,000 has now brought it up to the $33,000-level, based on CoinMarketCap. In previous market cycles, the volatility has shown a cyclical nature. However, in the current market cycle, it depends on the momentum and activity of institutional investors. Back in 2018, there was institutional participation. Alas, the...Read More
Since Bitcoin hit its ATH, analysts and traders have been anticipating a price drop/correction before a prolonged price rally to buy some more. This is one of the popular upsides of the current price drop in Bitcoin and Ethereum. Source: Coinstats As Bitcoin and Ethereum’s price rallies retraced and the trend reversed momentarily, the ratio...Read More
What is the way out of the short-lived bear market? Is it swing trading or HODLing? Though different parties have different answers, what everyone can agree on is the fact that the altcoin market capitalization heads south every time there is a drop in Bitcoin’s price. This can partly be attributed to the correlation between...Read More
2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600). However, does the...Read More
For a while now, Bitcoin has remained above the $30,000 range even though the asset saw one of the most “dramatic drops” compared to altcoins, over the past week. While some traders gave into FUD, others thought BTC could fall as low as $26,000. But a significant number of people in the space are waiting...Read More
After reaching all-time highs, both Bitcoin and Ether have faced a wave of correction; while the former seems to be stagnated, the latter slid further. Experts believe the current dip in prices is a temporary setback and even a healthy pullback before Bitcoin and Ether reach higher ranges. However, a popular trader and crypto analyst...Read More
Although Bitcoin dipped to its yearly open as predicted, some altcoins seem to be doing well, especially DOT, LTC, SUSHI, & LINK, among others. With Bitcoin gaining mainstream attention, it is only a matter of time institutions foray into altcoins. When this does happen, and it will, projects that have strong fundamentals will get picked...Read More
Bitcoin whales who accumulated the crypto-asset at $33,000 and $31,000 price levels have moved their funds to unknown locations and private wallets. On the contrary, some have sold their holdings as the frenzy accompanying the price drop gathered steam. Bitcoin, at the time of writing, was trading at $31,800 after recovering slowly from the drop...Read More
Bitcoin failed to recover in the past seven days, and it marked a further decline of about 8%. This has its current price hovering around $32,000, and its dominance has declined to 64.1%. But before we take a look at what this means for the altcoin market, let’s see what happened with BTC. The cryptocurrency...Read More
China-based Bitcoin miners are facing setbacks because of a lack of mining chips, across the world. The region, which is the world leader in the mining business, is facing unprecedented prices of mining equipment, amid increasing demand for cryptocurrency. TokenInsight COO Wayne Zhao explained in a report that China once accounted for 80% of the...Read More
NexTech AR Solutions, a Vancouver, Canada-headquartered developer of VR and AR solutions, has booked a $200,000 profit after selling over 130 bitcoins. The firm justified its decision with the double-spending that allegedly occurred on the BTC network yesterday. According to a press release published by the company, NexTech has sold all of its BTC holdings,...Read More
Michael Saylor’s Bitcoin bet appears to be far from over as his company MicroStrategy has acquired even more BTC despite the crypto price experiencing a significant retrace over the last couple of days. MicroStrategy has added more Bitcoin to its balance sheet according to an announcement issued on Friday (Jan. 22, 2021). MicroStrategy has purchased...Read More
As of 22 January 2021, publicly-traded company, MicroStrategy increased its Bitcoin holding by making an additional purchase of the asset. According to its latest announcement, MicroStrategy acquired $10 million worth of Bitcoin, paying roughly $31,808 per coin on average. The firm managed to gain from its earlier holdings during bull market conditions. At the very...Read More
Bitcoin’s price fell to $30,800 on Thursday, with echoes of Black Thursday sounding in a lot of people’s minds. This was the biggest price drop in 3 weeks and this may have been due to fears of double spending in Bitcoin, something that shook the faith of users. Though BitMEX confirmed that there was no...Read More
According to a filing published today by the United States’ Securities and Exchange Commission, New York-based investment management firm VanEck intends to launch a Digital Assets ETF, one that will track as closely as possible, before fees and expenses, “the price and yield performance of the MVIS® Global Digital Assets Equity Index.” The fund will...Read More
Bitcoin’s price seemed to have recuperated as it bounced off the yearly open at $28,956. However, on-chain indicators are suggesting that this expansion was a fluke. In fact, buyers with no real volume or momentum are trying to push the price higher on the charts. The first sign of resistance weakened these buyers’ already weak...Read More
Thanks to its growing popularity among all demographics, major financial institutions are jumping on-board to research and analyze the emerging asset class of cryptocurrencies. J.P Morgan is one such institution, with its latest Cross-Asset Strategy report observing that the mainstream adoption of cryptocurrencies leads to underperformance during crises. According to its analysis, over shorter intra-month...Read More
Experts often say the altcoins rally with Bitcoin, and even fall with it. On 21 January, Longhash revealed that in the last seven days, 92% of crypto tokens “outperformed Bitcoin.” Bitcoin rallied to new ATHs and has remained over the $30,000 range, which still accounted for less volatility compared to previous rallies. However, with increasing...Read More
When stories of Bitcoin millionaires began to emerge alongside the asset’s rally, Ether’s users also had a tale or two to share. An anonymous hodler who bought Ether, when it was trading at $2, is apparently “fully out of the game.” The trader who goes by the handle “u/FollowMe22” on Reddit apparently sold Ether recently....Read More
Analysts at JP Morgan have argued against Bitcoin’s (BTC) value proposition as a competitor to gold, saying the largest crypto by market capitalization is not a suitable hedge during periods of market uncertainty. Bitcoin is Least Reliable as a Hedge During Market Crunches According to Bloomberg, JP Morgan strategists John Normand and Federico Manicardi have...Read More
Bitcoin’s dominance is currently at 64.8% in comparison to 2017 in which its dominance was over 68%. The current crypto market cap is well distributed among top altcoins and stablecoins. After the price rallies in the current market cycle, nearly 100% of crypto wallet addresses are profitable. However, the same doesn’t hold true for altcoins...Read More
Grayscale Investments have one of the largest total-assets under management in the cryptocurrency industry. With the likes of Bitcoin, Ethereum, and other major assets under their belt, their net AUM on 13th January was reportedly worth close to $25 billion. With GBTC or Grayscale Bitcoin Trust being the most popular among other products, Grayscale’s Ethereum...Read More
Employees of the large provider of cloud migration, app development, and software engineering services, Sequoia Holdings, could start receiving their salaries in various cryptocurrencies. Some of the options include Bitcoin, Bitcoin Cash, and Ethereum. Founded in 2012, Sequoia Holdings, LLC is a provider of advanced analytic solutions, agile software development, cybersecurity products, and other IT-related...Read More
Ethereum’s price rally was in full swing, before the 5.9% drop in the past 24 hours. The price has dropped from the ATH and Ethereum is now trading at the $1300 level. Nearly all cryptocurrencies are bleeding currently, including Bitcoin, with a massive 24-hour price drop of 5.2%. This hasn’t affected the sentiment of retail traders...Read More
Bitcoin price crashed by around 7.7% as of Thursday after experiencing a similar crash of 9.5% the day before. Unlike yesterday, today’s crash seems to be whales dumping their holdings and this is happening on Coinbase. Bitcoin price crash: What caused it? Source: CryptoQuant Bitcoin whales have begun depositing their holdings on to exchanges since...Read More
Lawyers representing the self-proclaimed Satoshi Nakamoto, Craig Steven Wright, have sent letters to two websites, asking them to remove BTC’s whitepaper. While bitcoin.org has refused to do so, noting that these claims are meritless, bitcoincore.org has deleted the whitepaper. CSW Lawyers Demand BTC Whitepaper Removal Popular Bitcoin contributor, going by the nickname “Cobra,” who was...Read More
Despite maintaining long-term bullish views on bitcoin, Guggenheim Partner’s Chief Investment Officer Scott Miner believes that the asset will not surpass its early 2021 top of $42,000 again. As such, he doubled-down on his short-term bearish perspective, saying that BTC could drop as low as $20,000. Is Bitcoin Heading For $20K? It’s safe to say...Read More
After suffering its first weekly loss since September 2020, Bitcoin failed yet again to consolidate its position above the $36,500-mark. From a low of $33,833 on 17 January, Bitcoin rallied to breach the $36,300-$36,500 range on the charts. However, this was brief, and the crypto-asset soon re-traced back under its resistance level. Source: BTC/USD on...Read More
