Markets

Bitcoin’s recent plunge to below $7,000 pretty much shell-shocked much of the crypto community, leaving some market participants scrambling and others to speculate about why it happened. The months leading up to the next bitcoin halving event are supposed to be exciting, but bitcoin has once again proven its unpredictable not to mention highly volatile nature. Source: TwitterNo crypto investors have been unscathed by the fallout, billionaire trader Mike Novogratz included. The...

Could India be on the verge of making a real name for itself in the crypto space?India: The New Big Crypto Haven?The country has often had a very mixed relationship with digital currency, being rather hostile towards the likes of Libra and even threatening jail time for crypto users, but a new crypto merger may be what is needed to ensure digital money’s future within the country’s borders.Crypto exchange Wazir X is now a part of arguably the world’s largest and most popular digital trading...

Uber Technologies Inc. has had its fair share of woes since its initial public offering (IPO) some months ago in May as it has not been profitable ever since. Now, the ride-sharing company is about to fall deeper into its problems as it has lost the license to operate in London, after several issues.Now Uber is a long way down from its $45 IPO price in May. At the moment, UBER is trading just under $30, representing a 33% loss in about six months. The level is the end result of a 6.3% loss in...

XRP saw a steep price decline of around 5.15% over the past 24 hours and it currently trades at $0.22. During the day, the cryptocurrency dropped to as low as $0.19 creating a fresh low that hasn’t been seen for almost 2 years.Despite this, there are still some positive developments within the Ripple ecosystem. For example, Mercury FX, a global currency exchange provider, has recently announced its plans to expand the use of On-Demand Liquidity (formerly xRapid) – an XRP-based payment...

Transaction volume is an important metric often considered to determine the growth and popularity of a blockchain ecosystem. This is a go-to metric that often determines user activity and interest for a particular blockchain system. Well, XRP is the show stealer at this moment as it has surpassed both Bitcoin and Ethereum in daily transaction volumes.Last Saturday, November 23, the XRP ledger daily transaction volume hit a massive figure of 4 million. This is the highest recorded volume for...

Social media influencers made people believe that quantitative easing is bullish for bitcoin. The recent selloff obliterated this narrative. HODLers now rely on the halving and the stock to flow ratio to ignite a bull market. Over the last few months, social media influencers on Twitter peddled that quantitative easing (QE) is bitcoin’s rocket fuel. The rationale is simple. If governments can print billions of dollars, some of it will eventually find its way to bitcoin. Additionally, QE may...

India’s digital payments company Paytm said it got new funding from its shareholders but also some new investors. SoftBank Group Corp.’s Vision Fund, Ant Financial and Discovery Capital will, therefore, together with new investors advised by T. Rowe Price Group Inc. fund Paytm to get it in front of its competitors as the country’s finance sector is slightly beginning to grill.From Ant Financial they said they have been searching for investment opportunities in Southeast Asia in order to...

The past week was one of the worst for Bitcoin. The coin’s price had seen a $2000 decline over the past seven days.This morning Bitcoin recorded another new low since May 17 – at $6513 (Bitstamp). However, the cryptocurrency didn’t spend much time at those price levels, and over the past hours, we are witnessing a decent comeback in green:As of writing this, Bitcoin is trading $700 above the daily low, whereas the current daily high almost touches $7300 (~$800 intra-day price increase).The...

Bitcoin’s outlook went from bullish to extremely bearish real quick. Institutions may be playing a huge role in the current selloff. Miners and retail traders add to the supply of bitcoin in the market. Bitcoin is down over 21% in eight days. It has taken out key support of $7,400. Even worse, it is dangerously close to breaching psychological support of $6,000. With bears enjoying total dominance, the cryptocurrency market reeks with extreme fear. The bullish steam that drove bitcoin to a...

Anthony Pompliano, a Bitcoin bull enthusiast, says that the hysteria surrounding the price of the BTC will probably increase more and more until there is “real blood on the streets”.In a new note to investors, Pompliano points out that Bitcoin has always forced weak hands to surrender, through extremely volatile cycles of new and arbitrary highs and lows.When Bitcoin reaches extended periods in an accumulation phase, it has always been caused by violent epidemics that have left investors...