Tag Archives: BTCEUR

Bitcoin investors have halted depositing their assets onto cryptocurrency exchanges and have actually started to withdraw substantial quantities, says on-chain data. Furthermore, it showed that most of the withdrawals came from retail investors, but whales and institutions have also accumulated BTC lately. Exchange Withdrawals to Early Highs Data from CryptoQuant highlighted the recent trends in terms of BTC investors’ withdrawals and deposits from and to cryptocurrency...

The People’s Bank of China has shut down a local firm suspected of providing various software services to cryptocurrency businesses. As it happened during previous negative actions, the price of bitcoin fell rapidly after the news broke. In the latest statement on the matter, China’s central bank has closed down a firm called Beijing Tongdao Cultural Development Co. because of suspicion that it provided software services to transactions involving digital assets. The...

The Swiss banking giant UBS sounded a note of caution to its customers that regulatory crackdowns can pop the “bubble-like” crypto markets. Furthermore, they said bitcoin might become an unsuitable option for professional investors. Beware of Popping The Bubble In a recent note, the multinational investment bank – UBS Group AG – warned its clients about the current dangers in the crypto market. Executives of the Switzerland-based institution opined that the recent regulatory...

The investment firm IBC Group, which has significant cryptocurrency mining operations in China, announced its intentions to close down all its Bitcoin and Ethereum mining facilities throughout the country. Instead, the organization plans to move its workers to Canada, the USA, the UAE, Kazakhstan, Iceland, and numerous South American nations. IBC Group Leaves China As a result of the crackdown on cryptocurrency mining launched by the Chinese government, the majority of the...

Following the positive weekend in terms of trading action, bitcoin has retraced by a few thousand dollars to just above $34,000. Most altcoins have also failed to continue upwards as ETH has dipped below $2,300, and BNB is close to breaking beneath $300. Bitcoin’s Trading Volume Drops as BTC Retraces Bitcoin proved most assumptions wrong in the past few days. There were concerns that history is to repeat itself and the asset could lose traction during the weekend as it did in...

The financial specialist and professor at the New York University – Aswath Damodaran – criticized bitcoin in a recent speech. In his opinion, the primary digital asset “failed miserably” and did not prove itself as a good currency. Gold and BTC Are Not The Same The prominent Indian professor – Aswath Damodaran – shared his point of view on bitcoin in the most recent episode of Moneycontrol Masterclass. He asserted that the largest cryptocurrency has failed to classify as a...

The demand for the Purpose Bitcoin ETF has resumed after the mid-May decrease. Consequently, the company’s product has increased the bitcoins it holds by almost 30% in less than two months. Purpose BTC ETF Holds Almost 22.5K Coins CryptoPotato reported earlier this year when Canada’s Ontario Securities Commission (OSC) approved a filing by the financial services company – Purpose Investments – to launch an exchange-traded fund tracking the performance of the primary...

Bitcoin price is up a robust 8.5% from the July low of $32,700, recorded both on Thursday and Friday. The coin surged over $3K over the past two days, breaking above the 20-day moving average line at $34.9K, and is now facing a combination of significant resistance on the daily timeframe. The major resistance is provided by a falling trend-line that dates back to mid-May when Bitcoin was trading above $50K. This line forms the upper angle of a potential descending triangle...

Bitcoin’s weekend struggles seem to be nowhere near as the cryptocurrency initiated another leg up and reclaimed $35,000. Most of the altcoins have charted gains as well, with Ethereum jumping above $2,300 for the first time since mid-June. Bitcoin Reconquers $35K After the volatile week in which BTC reached a multi-day high of $36,600 and then retraced to below $33,000, all eyes were on the weekend as recent history showed that the asset tends to head south when the workweek...

Fresh data from Glassnode revealed today that Bitcoin’s mining difficulty dropped by 28%, making it the largest negative adjustment in the history of the cryptocurrency.  Source: GlassnodeWhat is Bitcoin Mining Difficulty Adjustment? For clarity, Bitcoin mining difficulty is a metric that describes how hard it is for miners to mine a new block on the network. When the difficulty increases, it becomes harder and miners will need to dedicate more computational power to find the...