Markets

Grayscale Investments has announced that the price of bitcoin could potentially explode in the coming months given how much bitcoin is mimicking its 2016 behavior.Grayscale: Expect Bitcoin to Be More BullishIn a recent report, the institutional crypto trading platform writes:The current bitcoin market structure parallels that of early 2016 before [bitcoin] began its historic bull run. Amidst unprecedented monetary and fiscal stimulus, investors are searching for ways to protect against an...

Bitcoin futures aggregated open interest hit the $5 billion mark yesterday, but the overall trend seems to be declining.This points to a possibility that BTC derivative traders are quitting the market owing to lackluster price action. Will a gap at the $9700 price level result in a proliferation of short positions?Bitcoin Futures Open Interest Drops Post Topping $5 BillionData from UK based market analytics firm Skew shows that the aggregated open interest in Bitcoin futures trading hit an...

The Barstool Sports founder turned stock trader appears to have been prematurely stung by the highly volatile world of Bitcoin trading.Portnoy, who has recently expressed a lack of knowledge on crypto, tweeted a video on August 21, stating that he was ‘getting killed on Bitcoin right now.’$25,000 LossIn a follow-up tweet, the stock trader added that he just lost $25,000 and needed time to ‘figure it out’ just like the stock market.I currently own zero bitcoins. I will wait and watch. I lost...

Most of the cryptocurrency market is in red today. Bitcoin tanked to $11,400 briefly, but large-cap alts are losing more substantial chunks of value, thus helping BTC to reclaim some ground in terms of market domination.Bitcoin Drops FurtherBTC looked promising yesterday as the asset headed for another face-off with its well-known nemesis at $12,000. It hovered just beneath it for a while, but the bears took control and didn’t allow even to touch that psychological level.In the next few...

A new report indicated that East Asia remains the most active cryptocurrency market with the most significant number of daily transactions. At the same time, professional traders still account for most of the trading volume, while stablecoins, and especially Tether (USDT), have gained a massive market share.East Asia Dominates Crypto Trading MarketAccording to the recent report compiled by Chainalysis, “East Asia is the world’s largest cryptocurrency market, accounting for 31% of all...

This week has been quite the ride on the cryptocurrency markets, and, of course, Bitcoin was in the spotlight, at least for a while.The price started at around $11,700 and stayed there for a few days until Monday when we saw a significant move forward as BTC reached about $12,500. The cryptocurrency community was ecstatic that the coveted $12,000 mark was broken, but unfortunately, the euphoria was shortlived.Just a day later, Bitcoin started dropping and come Wednesday, the price was already...

BitcoinBitcoin continued its sideways movement this week as it remained around the $11,600 level. However, during the week, the cryptocurrency did push higher as it penetrated above the $12,000 resistance to reach the $12,400 level.Unfortunately, it was unable to sustain these highs as it rolled over to fall beneath $12,000 at the start of the week. Bitcoin has since dropped further as it reached the support at $11,650 (.236 Fib Retracement). A rising trend line also bolsters this support.The...

Crypto Finance AG and 21 Analytics successfully completed a Bitcoin transaction in accordance with the standards of Financial Action Task Force (FATF).Two Swiss Firms, Crypto Finance AG and 21 Analytics in collaboration with My Pelerin announced on Thursday that they have successfully completed a Bitcoin transaction that complies with the AML standards of Financial Action Task Force (FATF).Approximately $23 was sent with the help of this transaction organized by Swiss companies. The regulator...

China-based electric automaker Nio has demonstrated enormous growth this year. Tesla rival plans to expand into global markets in 2021.Tesla Inc (NASDAQ: TSLA) rival Nio Inc (NYSE: NIO) is up 240% this year despite the economic down plunge caused by the coronavirus pandemic. Following this impressive growth, the electric automaker Nio has declared that it has plans to venture into other markets starting in the second half of next year.The electric automaker with roots from China recently...

This will be the largest ever test so far on the coronavirus vaccine by any pharmaceutical giant. “We are using epidemiology and modeling data to predict and plan where our studies should take place and expect that to be finalized soon,” said Johnson & Johnson.On Thursday, August 20, Johnson & Johnson (NYSE: JNJ) confirmed conducting its largest and late-stage of a potential COVID-19 vaccine in September. The stage-three clinical trial will involve 60,000 people aged 18 and above....