Markets

Bitcoin has not made any decisive moves in days as the asset remains stuck below $17,000. This is expected to an extent today, given the unusually low trading volumes. As such, the alternative coins have stalled, too, with ETH struggling to sustain above $1,200. Bitcoin Flat Below $17K The past two weeks were highly different from one another. The previous one saw massive turbulence propelled by the collapse of once the third-largest cryptocurrency exchange FTX. Bitcoin...

The cryptocurrency industry saw the spectacular collapse of one of its giants earlier this month, which ultimately resulted in FTX filing for Chapter 11 bankruptcy. Shortly after, though, there were suspicious movements from one of its accounts, many related it to a hack or even an inside job. However, the Securities Commission of the Bahamas took it to Twitter to shed some more light on the events, informing that it was actually the watchdog that siphoned the funds. The...

Dogecoin’s Shibetoshi Nakamoto believes a potential crash of the crypto exchange Binance or the stablecoin-issuer Tether could severely destabilize the entire industry. He also advised people to do appropriate research and understand the digital asset’s sector specifics before entering it. Binance/Tether Collapse Could be Devastating The Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – thinks if either Binance or Tether goes down,...

The past year or so has not been kind to the primary cryptocurrency, following many industry and macroeconomic adversities. Even though the asset has lost roughly 80% of its value since the all-time high last November, some estimations show that it could drop further, perhaps to the four-digit territory. It was approximately a year ago when the industry was booming, led by the massive gains charted by the largest cryptocurrency. Perhaps fueled by the futures ETF launched in...

Despite all the economic and financial turmoil in the United Kingdom, bitcoin has not taken advantage of the situation and dropped even further in October, even though that period has historically been bullish for the world’s number one digital currency by market cap. Bitcoin Should Have Risen, but the Opposite Happened October saw the resignation of UK prime minister Liz Truss, who set a record after serving only 44 days in her post. The news brought an onslaught of new...

After Hacktober, which saw countless DeFi projects being exploited for hundreds of millions of dollars in total, November was expected to be a calmer month for crypto. However, that was not the case as the industry saw one of the fastest, loudest, and most shocking deterioration of a giant – FTX. An analysis by the risk-modeling firm Gauntlet outlined a tweet from Alameda’s CEO that changed the whole situation for the worse. This Tweet Is to Blame? Let’s rewind the clocks by...

Bitcoin continues to be unable to conquer $17,000 and struggles beneath that line on low Saturday trading volumes. Most alts are quite stagnant today, with little-to-no substantial moves. Algorand is among the few exceptions. Bitcoin Boring Below $17K The past week was significantly different that the previous one, in which bitcoin experienced some of its most violent price declines following the rapid collapse of FTX. In a matter of days, the asset went from over $21,000 to...

Binance CEO Changpeng Zhao (CZ) has all but given up on India. Pointing out the 1% transaction tax that came into force on 1 July 2022, CZ said it makes crypto trading unviable in India. Speaking at the TechCrunch Session: Crypto 2022 on November 17 in Miami, CZ further pointed out that Binance is engaged with blockchain associations and influential persons in India to present the industry’s stance before the policymakers, a TechCrunch report said. CZ Red Flags 1% Transaction...

After the previous week, which saw the deterioration of one of the largest crypto exchanges, this one was significantly less volatile in terms of price movements but quite eventful for reports popping left and right that revealed intriguing information regarding SBF, FTX, Alameda, and other involved parties. Let’s start with the price developments. The primary cryptocurrency had already suffered a lot from the FTX meltdown, dropping from over $21,000 to a two-year low of...

Ethereum’s resilience has been one of the significant talking points during the recent market crash as opposed to Bitcoin, ETH’s price has not created a new lower low. However, more downside could be expected if the price fails to break a key resistance level. Technical Analysis Technical Analysis By: Edris The Daily Chart: On the daily chart, the cryptocurrency has been retesting the $1300 resistance level over the past few days after dropping below it earlier during the...