Tag Archives: Bitcoin Bear Market

The Berlin-based neobank – N26 – established a cryptocurrency service that will enable customers to buy and sell 100 cryptocurrencies. The largest fintech bank in Latin America – Nubank – also hopped on the bandwagon, launching its own cryptocurrency in Brazil. Interestingly, Berkshire Hathaway – the conglomerate holding company spearheaded by the famed investor and crypto critic Warren Buffett – is among the financial backers of the banking institution. Even though the...

The German-based crypto bank – Nuri – revealed it will terminate its operations due to the harsh consequences of the crypto winter and the negative macroeconomic environment. It informed that customers have until December 18 to withdraw their funds from the platform, while trading will be possible until November 30. The Bear Market’s Latest Victim Over the past several months, Nuri has been seeking venture capitalists and potential acquirers who could fix the company’s...

Hunter Horsley – CEO of the technology solutions provider Bitwise – believes bear markets are a great period when investors could increase their exposure to bitcoin. He estimated that the next bull run will begin next year, outlining that his firm’s clients have already increased their interest in the asset. Fortunes Are Made in the Bear Market In an interview for Bloomberg, Horsley outlined the historical pattern of bitcoin’s price movement. During its existence, the primary...

New York Digital Investment Group (NYDIG) – an investment management firm that offers a wide variety of bitcoin services – reportedly laid off around one-third of its staff in September. Not long ago, it announced the departure of CEO Robert Gutmann and President Yan Zhao. Despite the redundancies, the former leaders remained as key members of NYDIG’s parent company – Stone Ridge Holdings Group. Joining the Dismissal Spree The Wall Street Journal informed that last month...

Yassine Elmandjra – analyst at ARK Invest – believes bitcoin’s valuation could skyrocket beyond $1 million per coin in the following years. Earlier in 2022, a research team of the company estimated that the market capitalization of the primary cryptocurrency could reach $28.5 trillion by 2030. Bullish Prediction Despite the Bear Market Bitcoin and the broader cryptocurrency market have seen better days. During the past several months, the leading digital asset has lost a...

The diminishing interest in NFTs and the plunge in trading volumes have severely affected the soccer star – Neymar Jr. – and the renowned rapper – Eminem in terms of their digital art purchases. At the beginning of the year, the Brazilian athlete purchased two digital collectibles part of the Bored Ape Yacht Club for over $1 million, while their current valuation is around $340,000. Eminem’s paper losses as of the moment are approximately $330,000. More Celebrities Affected...

The US-based bitcoin miner – Marathon Digital Holdings Inc. – reportedly has exposure of more than $80 million in one of its hosting providers – Compute North. Two weeks ago, the latter joined the list of troubled entities affected by the ongoing crypto winter, filing for a Chapter 11 bankruptcy. Multi-Million Exposure According to a coverage by Bloomberg, the cryptocurrency miner had invested $10 million in convertible preferred stock of Compute North. It had allocated an...

Though Bitcoin’s price has been suppressed for months, this may not necessarily mean that adoption of the asset is slowing down.  On-chain data from IntoTheBlock shows that the number of non-zero Bitcoin addresses has steadily increased since the crypto market peak in November.  People, or Addresses? As the crypto intelligence platform indicates, about 41.9 million addresses currently hold a balance on Bitcoin’s network. That’s narrowly shy of the all-time high of 42.07...

The creator of the bitcoin Stock-to-Flow (S2F) model – PlanB – admitted that recently he made his third BTC investment. At the time of the purchase, the primary cryptocurrency was hovering around $20,000. Due to its significant price depreciation compared to the all-time high of $69,000 in November 2021, many people proclaimed bitcoin dead in the past several months. However, PlanB revealed that each of his crypto investments was at a time when pessimism was reigning. PlanB...

Change is in the air as the crypto space continues to see top executives step down from their roles amid the market crisis that stemmed from the Terra Luna fiasco and the Federal Reserve’s continuous interest rate hike, which negatively impacted the global financial market. The change in crypto-related executive leadership started with Twitter co-founder Jack Dorsey stepping down from the company’s board of directors in May. While Twitter is not a crypto-focused firm, Dorsey...