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Tag Archives: BTCGBP

Bitcoin Correction Intact While Altcoins Skyrocket: The Crypto Weekly Recap

Bitcoin failed to recover in the past seven days, and it marked a further decline of about 8%. This has its current price hovering around $32,000, and its dominance has declined to 64.1%. But before we take a look at what this means for the altcoin market, let’s see what happened with BTC.The cryptocurrency started off trading above $35K and even took a shot at $38K on Saturday. The bears had a mind of their own, however, and prevented this from happening, sending the market in a sideways...

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Crypto Price Analysis & Overview January 22nd: Bitcoin, Ethereum, Ripple, Polkadot, and Chainlink

During the past seven days, we saw an extended correction in Bitcoin’s price which failed to recover to its previous all-time highs. However, while BTC is down, a lot of altcoins started popping and gaining some serious value. For this week’s analysis, we’ve decided to take a closer look at Bitcoin, Ethereum, Ripple, Polkadot, and Chainlink.BitcoinBitcoin is down by a further 18% this week, dropping by a steep $10,900 to reach a low at $28,900. The cryptocurrency was trading at the upper...

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Canadian VR Company Sells $4.2M of Bitcoin Following the Double-Spending FUD

NexTech AR Solutions, a Vancouver, Canada-headquartered developer of VR and AR solutions, has booked a $200,000 profit after selling over 130 bitcoins. The firm justified its decision with the double-spending that allegedly occurred on the BTC network yesterday.According to a press release published by the company, NexTech has sold all of its BTC holdings, amounting to 130.187 bitcoins. With today’s prices, this amount is worth north of $4,2 million.The sale has come less than a month after...

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Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash

Michael Saylor’s Bitcoin bet appears to be far from over as his company MicroStrategy has acquired even more BTC despite the crypto price experiencing a significant retrace over the last couple of days.MicroStrategy has added more Bitcoin to its balance sheet according to an announcement issued on Friday (Jan. 22, 2021).MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808...

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Bitcoin Price Analysis: Following $7K Daily Drop, Will $30K Hold?

Bitcoin suffered a severe 15% decline in the past 24 hours, which saw the cryptocurrency dropping by $7,000 to reach below $29K. In doing so, it fell beneath the previous symmetrical triangle we were tracking and landed at the lower border of a long-termed bearish triangle.More specifically, Bitcoin managed to find support at the $30,760 support we highlighted yesterday, provided by a short term .786 Fib Retracement level. However, BTC did spike beneath this, reaching as low as $28,800 today,...

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VanEck Seeks SEC Approval To Launch An ETF Tracking Crypto Companies Performance

After several unsuccessful attempts to receive approval for a Bitcoin ETF, the US investment manager VanEck decided to try its hand with an exchange-traded fund that follows crypto companies.The firm has filed a document with the US Securities and Exchange Commission to release a Digital Asset ETF to track the price and performance of the Global Digital Asset Equity Index.VanEck Goes For A Crypto Companies’ ETFFounded over six decades ago, VanEck is a New York-headquartered investment manager...

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Russia’s Sberbank Seeks Approval To Launch Its Own Cryptocurrency

Giant state-owned Russian bank Sberbank has reportedly sought approval from the nation’s central bank to launch its own cryptocurrency through a blockchain platform.Separately, a Russian court has removed the leading crypto exchange Binance from a regulator’s blacklist.Sberbank Looks Into Launching Its Own Crypto?According to the local coverage, Sberbank of Russia, one of the largest banks in the world’s largest country by landmass, has applied with the central bank to register a blockchain...

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Over $100 Billion Wiped off the Market Cap as Bitcoin Slided Beneath $29,000 (Market Watch)

Bitcoin’s decline continued in the past 24 hours as the asset dumped below $30,000 for the first time since early January. Most altcoins are also covered in red, and the total market cap has plummeted to $900 billion – meaning a decrease of over $100 billion in a day.Bitcoin’s Drop Took It Below $29KJust a few days ago, BTC attempted to overcome the $38,000 price tag but to no avail. Ever since that rejection, the cryptocurrency has been gradually decreasing in value.The situation worsened in...

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Bitcoin Dumps $6,500 in Massive Selloff Below $30K

Bitcoin and crypto markets are bleeding out this Friday morning as the selloff which initiated on Thursday, January 21, has continued with fervor into the Asian trading session.Bitcoin has shed a whopping $6,500 since the same time yesterday as it dumped to $29,000. The intraday high for BTC was $35,500 according to Tradingview, and it has currently reclaimed the $30k level.Chart – Tradingview.comFirst 30% Correction In 2020-2021 Bull RunSince its all-time high of $42,000, which was recorded...

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Bitcoin is an Unreliable Hedge During Market Upheavals: JP Morgan Analysts

Analysts at JP Morgan have argued against Bitcoin’s (BTC) value proposition as a competitor to gold, saying the largest crypto by market capitalization is not a suitable hedge during periods of market uncertainty.Bitcoin is Least Reliable as a Hedge During Market CrunchesAccording to Bloomberg, JP Morgan strategists John Normand and Federico Manicardi have issued a report classifying Bitcoin more as a risk-on asset than as a hedge against market uncertainties. As part of their analysis, the...

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