Markets

Bitcoin has gained quite a bit of momentum this year and is adding fans to its roster at an unprecedented level. At the time of writing, the world’s number one cryptocurrency by market cap has added another newbie to its list of major admirers. That newbie is Stanley Druckenmiller, a legendary hedge fund manager who now says he owns some bitcoin for the first time – and he seems to like it.Druckenmiller: BTC Is a Major New Asset ClassThe idea behind bitcoin’s sudden rise in popularity is that...

The bitcoin price is still on the rise. The world’s number one cryptocurrency by market cap has just hit the $16,000 mark for the first time since January of 2018. It is now less than $4,000 away from its all-time high, which it attained in December of 2017.Bitcoin Strikes Its Largest Territory in YearsThe year has been very up and down for the currency, and yet for the most part, the asset has seen one of its strongest periods. It was back in March when the asset first fell from around...

After marking a new yearly high of $16,500, BTC now seems to be retracing. The cryptocurrency dropped to as low as $15,750 and recovered to where it’s currently trading at $15,880. Most altcoins are following suit. The Correction Begins? There’s a saying for traders that goes – ‘what goes up, must come down.’ In other words, it’s completely typical and healthy market behavior for prices to correct. This gives buyers the opportunity to consolidate and continue accumulating....

Bitcoin is up by a total of around 5% this week. However, the most interesting part is that it finally broke above the coveted $16,000 mark for the first time since January 2018. This time, however, things are looking a lot more stable. BTC had a few attempts at $16,000 and managed to convincingly break through today. Ironically, it’s Friday the 13th so there goes the myth of bad things happening on this date. At the time of this writing, the price is trading at above $16,200...

Michael Saylor – the CEO of MicroStrategy – says that bitcoin is a thousand times better than gold in a recent interview.Michael Saylor: BTC Beats the Pants Off GoldFor those who may be unfamiliar, MicroStrategy made headlines earlier this year when as a major institutional enterprise, it decided to purchase more than $400 million in bitcoin, making it one of the first institutions to come out and do so. It put all its money into the world’s number one digital currency by market cap, and it...

The Bitcoin market capitalization which was hovering around $300 billion and conquered 65% of the total market cap moved the digital asset into the list of first 20 major assets.Bitcoin price in the last 24 hours experienced an impressive run that took it to the near $20,000 all-time high price, the market cap has reached $300 billion. Just as expected, its market cap was very dominant, controlling over 60% of the total cryptocurrency market cap. The recent run did not just set a new yearly...

According to DeFi Pulse, the total value locked in decentralized applications to date comes at about $13.69 billion, a remarkable growth from the $11.184 billion locked at the end of October.Impressive growth has been recorded in the decentralized finance (DeFi) ecosystem despite the imminent crashes the market has experienced. According to a report by Cointelegraph, blockchain analytics firm, Dune Analytics released data shows that DeFi applications in total saw a growth of 55% in its user...

Bitcoin payments for passport services? You read that, right! In a first, a nearly 50-year-old U.S based passport and visa processing firm, Peninsula Visa, will now be accepting BTC for select passport services. Coinbase’s crypto payments arm, Coinbase Commerce, will be assisting the company in the same. Peninsula Visa Is Now Accepting Bitcoin For Passport Services In an official press release, Peninsula Visa announced its plan to integrate bitcoin payments for selected...

Bitcoin marches confidently towards new yearly highs while most alternative coins have failed in pursuit. Consequently, BTC’s dominance over the market has climbed above 65%. Red Dominates The Altcoins On a 24-hour scale, most alternative coins have either decreased in value or remained stagnant. Ethereum initiated a leg up towards $470, but the bears didn’t allow any further increases. In fact, they drove ETH’s price south, and the second-largest cryptocurrency struggles at...

Bitcoin cash price started a downside correction from the $278 swing high against the US Dollar.The price is now trading above the $250 support and testing the 55 simple moving average (4-hours).There is a major contracting triangle forming with resistance near $260 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).The pair could either rally above the $260 resistance or it might dive below the $250 support.Bitcoin cash price is struggling to gain momentum above $260, while...