Tag Archives: BTCGBP

Amid surging interest in cryptocurrencies, the legendary American investor and founder of the investment management firm Bridgewater Associates, Ray Dalio, opined that the crypto industry is receiving way too much attention. Too Much Attention on Crypto During his latest interview on “The David Rubenstein Show: Peer-to-Peer Conversations,” Dalio claimed that he has only a “tiny” amount of crypto in his investment portfolio. Recall that earlier in May 2021, the billionaire...

The International Monetary Fund (IMF) recently urged El Salvadoran authorities to remove Bitcoin’s legal tender status. They called it a threat to market integrity, financial stability, and consumer protection. Criticizing the Bitcoin Law The IMF publicly revealed its warning in a website statement earlier today, after concluding its Article IV consultation with El Salvador on Monday. Despite noting the country’s speedy post-pandemic economic recovery, it still cited...

Phong Le – Chief Financial Officer of MicroStrategy – revealed that his firm will continue investing in bitcoin despite the recent plunge of the asset’s USD value. In line with the prices of most crypto assets, the shares of the Nasdaq-listed company have also been on a downtrend since the beginning of 2022. The Price Is Not an Issue for MicroStrategy It is safe to say that the first 25 days of the year have not been kind to bitcoin. The cryptocurrency has lost more than 20%...

The former Chief Executive Officer of Goldman Sachs – Lloyd Blankfein – opined that the ecosystem surrounding cryptocurrencies has evolved in the past year. As such, he raised hopes that the digital asset industry is “happening” despite the recent price crash. Optimism During The Crash The American banker who served as Goldman Sachs’ CEO until 2018 has not always been kind to the cryptoverse. At the beginning of 2021, he questioned bitcoin’s ability to be a store of value due...

In an indecisive spot market, the low liquidity in the order book allows the aggressive traders to take control, leading to unexpected volatility. Currently, the futures market may see more liquidations before any price recovery. Technical Analysis Daily Timeframe The image below shows that bitcoin is in a strong downtrend, and the bears are in charge. However, we’re in a zone that can hold the price for a few days or even weeks. Additionally, the RSI indicator, which helps...

Bitcoin will help New York to send a message to the world that the city is open to adopting new and innovative technologies, said mayor Eric Adams. He also showed no regrets about receiving his first paycheck in BTC amid the market meltdown. Bitcoin Sends a Message Ever since last year’s elections, Eric Adams has displayed a pro-cryptocurrency approach, insisting that he will receive his first paychecks in BTC and also transform the Big Apple into a bitcoin hub. While his...

Investors of Core Scientific Inc. (a leading US bitcoin mining company) have reportedly approved a plan to get listed on Nasdaq. The firm started trading under the symbol CORZ. Nasdaq’s Newest Member According to a recent report by Bloomberg, the blockchain infrastructure provider – Core Scientific Inc. – will proceed through an estimated $4.3 billion merger with the special-purpose acquisition company Power & Digital Infrastructure Acquisition Corp. (ticker XPDI). The...

The past hours saw a massive sell-off, causing an unexpected and enormous plunge to sub-$40K in the price of Bitcoin. The onchain data is showing an absolute capitulation phase in the market, which was intensified by long-term holders just before the crashing to $35K. Long Term Analysis: The Daily Chart Yesterday, Bitcoin lost a critical support range at $37K – $40K. As shown in the chart below, before the price decline beneath $40K, both 50-DMA and 100-DMA lines have crossed...

The cryptocurrency market lost over $400 billion worth of its capitalization in the past few days alone. The total market cap currently sits below $1.7 trillion. This came as most of the coins are down tremendously in the past week. Ethereum is down 27.7%, BNB is down 27.8%, ADA is down 17.6, SOL is down 36.2%, and so forth. Bitcoin’s price is currently sitting around $35K and has lost almost 20% in the same time frame. From a technical perspective, it’s important to note...

As the crypto market continues to bleed over the past days, the Grayscale Bitcoin Trust (GBTC) shares have widened their discount in relation to the underlying crypto held in the fund. GBTC Premium at New Lows According to recent data from Coinglass, the trust’s negative premium hit a new all-time low (ATL) as bitcoin struggles around the $35,000 mark. The GBTC has been trading on a steady decline since February last year, with the premium now sitting at 30%. The Grayscale...