Tag Archives: BTCGBP

Bitcoin’s adverse price movements continued in the past 24 hours, and the asset fell to a two-week low of $45,500. Most altcoins also suffered, with the apparent exception of Avalanche, which has soared by nearly 10% on a daily scale. Bitcoin’s 14-Day Low It was just two days ago when the US Federal Reserve said it will leave the interest rates unchanged, which caused a substantial price surge for bitcoin. The cryptocurrency traded at $46,500 and skyrocketed to $49,500 in...

Another seven days have passed and, unfortunately, they weren’t any better than the week before. Traditional and cryptocurrency markets are tumbling, despite the US Federal Reserve leaving rates unchanged and increasing the country’s debt ceiling by $2.5 trillion. Bitcoin was headed well into the green last weekend when the price surpassed $50,000 on Sunday. This gave the community some relief and also brought hope that it’s time for a recovery rally. Bears had a mind of...

Impersonation scams are a growing threat in the cryptocurrency community, and a large number of victims continue to fall for them. The latest such example involved MicroStrategy’s CEO, and someone sent two BTC to a fake giveaway address using his name. In giveaway scams, bad actors typically impersonate a well-known figure and promote deceiving campaigns offering to double all bitcoins sent to their addresses. It goes without saying, those who fall for the fraud never receive...

It is no secret that Satoshi Nakamoto, the father of Bitcoin, is still one of the biggest unsolved mysteries within the crypto space, as no one knows if the pseudonymous tag belongs to a single person or a group. A Final Message From Satoshi Interestingly, December 12, 2010, eleven years ago, was the last time anyone heard from Satoshi publicly after they left a final message telling early members of the Bitcointalk forum that there’s still a lot of work to be done to improve...

Long-term Technical Analysis: The Monthly Based on the monthly timeframe, the market is not showing any strength yet. Let’s examine the market structure using the trend lines and indicators shown in the following chart. If we compare the current cycle (2021) with the previous one (2017), the RSI indicator is still on its uptrend with a lower slope (marked by green – dynamic line). During the 2017 bull run, the failure of this line signaled the end of the bull run (the red...

Mike McGlone – Senior Commodity Strategist at Bloomberg – expects 2022 to be a successful year for both bitcoin and gold. He believes the primary cryptocurrency will hit $100,000, while the precious metal will trade at $2,000. What Will Fuel Bitcoin’s Rally in 2022? The current global financial system is passing through tough times, to say the least. The COVID-19 pandemic, and the health concerns around it, caused many companies to temporarily cease operations or send their...

Yesterday’s inflation news from the US pushed bitcoin to $50,000 once more, but the asset failed and dropped by several thousand dollars. Most altcoins are also in the red on a daily scale, as ETH slid to $4,000. Bitcoin Rejected at $50K The past several days didn’t go all that well for the primary cryptocurrency. It tried to recover from last week’s massive crash and challenged the $50,000 mark on several occasions but to no avail. Its inability to break above had driven it...

The member of the Republican party and Florida Governor – Ron DeSantis – proposed that the government should allow businesses to pay state fees with digital assets like bitcoin. He added that the authorities plan to launch pilot programs to explore the use of blockchain technology to monitor motor vehicle records as well as validate Medicaid settlements. Towards a Crypto-Friendly State Ron DeSantis included his idea as part of the 2022-2023 budget proposal during an...

Options Market Analysis Bitcoin price is now sub $49,000, about 27% below the ATH ($69k). Options traders set different hedging strategies during the previous weeks to protect against the market downside. Next Friday, December 17th, about $630 million worth of bitcoin options contracts will expire in Deribit. The max pain scenario for this expiry is if the price is at $50K. Calls at 60k strike price have the highest open interest with 1005 contracts. Options traders have sold...

There’s no sugarcoating it, the past seven days have been very tough throughout the entire cryptocurrency market, with a few small exceptions. The total capitalization dropped to $2,375 billion, which represents a loss of about 13%. Let’s start with Bitcoin. The primary cryptocurrency is down 14% on a seven-day scale. It started the week at around $56K, but bears weren’t having it anymore and crashed the price during the early Saturday trading session when BTC dropped to...