Tag Archives: Bitcoin (BTC) Price

Bitcoin and the rest of the market tanked yesterday. Red was all over the place with double-digit drops across all charts. In BTC’s case, this nosedive came as a continuation of larger retracement that started after the all-time high in April at $65,000. However, how does this correction compare to others? Mid-2021 Correction: What Happened? Before heading into the most recent price developments, it’s worth exploring what transpired before the market got there. In short,...

Bitcoin’s 2021 bull cycle was paused, not entirely stopped, and will resume, opined the founder of SkyBridge Capital – Anthony Scaramucci. In a new interview, the former White House Communications Director addressed the recent environmental issues and called Bitcoin a fully robust monetary network. Yesterday’s market crash that saw bitcoin sliding by more than $10,000 in minutes sent shockwaves among investors and commentators rushing to offer their opinion on the matter. The...

Scott Minerd – Global Chief Investment Officer and Chairman of Guggenheim Partners – compared the recent crypto market collapse to the ”Tulipmania’ in the 17th century. His current stance came somewhat unexpectedly since not long ago, he predicted a price of $600,000 for Bitcoin. Crypto Is a ‘Tulipmania’ The recent crypto market crash created an opportunity for numerous investors and influential people to express their predictions about the current state and future price of...

This collapse, catalyzed by Elon Musk’s tweets criticizing Bitcoin’s energy consumption, was exacerbated by several factors, including China, reiterating its anti-Bitcoin stance, a large short position on Bitfinex, and the necessity of a general correction in the overbought crypto space. Crypto-related hashtags are trending across the world, including #crypto, #buythedip, and #altseason2021. Bears Attack Bitcoin skeptics and critics felt vindicated today as BTC temporarily...

Justin Sun, the founder of TRON, just announced that he purchased over $150 million worth of bitcoins at an average price of about $36,800. In what some are calling ‘the greatest wealth transfer of the year,’ Bitcoin and the cryptocurrency market at large plummeted over 50% before rebounding over 25% within hours. Amidst a slew of liquidations, several high-profile cryptocurrency advocates like Michael Saylor spoke out, reaffirming their bullish thesis, unexpectedly including...

The investment department of the large multinational financial service organization, Wells Fargo, is looking into offering cryptocurrency products to its institutional clients. A senior executive outlined the innovation in a recent interview and called bitcoin “a nice diversifier.” Wells Fargo Getting on the BTC Wagon? In a recent interview with BusinessInsider, Darrell Cronk, president of the Wells Fargo Investment Institute (WFII), highlighted the bank’s recent...

The enhanced volatility in the crypto market continues to harm leveraged traders as the liquidations in the past 24 hours are more than $8 billion. Naturally, roughly 90% of all liquidations came from long positions. It’s safe to say that the cryptocurrency market has seen better days. The entire capitalization saw around $900 billion evaporated in the span of a week. It all started with Elon Musk’s statement asserting that Tesla had stopped receiving bitcoin for its electric...

Bitcoin saw another sharp 17% price drop today, causing the cryptocurrency to spike as low as $36,250 as of writing these lines. In total, the coin has now dropped by over 30% in a matter of days, and 40% below the current all-time high at around $65k. The first signal for the bitcoin downturn was the break beneath the rising trend line at the beginning of the past week when BTC fell beneath the $50,000 psychological support. From there, the coin continued to drop to find...

The honeymoon period between Tesla and Bitcoin may have ended as the latter’s price has returned to levels before the EV-maker entered the scene. Despite the massive crash, though, several on-chain instruments suggest that long-term holders have refused to sell, while some larger whales may have used the opportunity to buy the dip. Bitcoin Back to Pre-Tesla Price Levels Elon Musk’s electric vehicle giant broke the internet in early February when it revealed that the firm had...

Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins. The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th. It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per...