Tag Archives: BTCGBP

It’s been a very volatile week in the cryptocurrency market. Despite the turbulence, some altcoins managed to hold their ground and even appreciated in value, but the same can’t be said for Bitcoin. The primary cryptocurrency is down about 4% on a weekly basis, but this comes after a week of serious volatility. On Monday, the price wicked from $57K to upwards of $59k, only to get rejected almost immediately and drop to below $56K. From there, it started consolidating and...

Avinash Shekhar – Chief Executive Officer of the cryptocurrency exchange Zebpay – predicted that the Indian lawmakers are more likely to impose tough rules on the digital assets than prohibit their usage. The exec added that regulation in the sector is necessary as it could bring many innovators and multibillion-dollar companies. The Vibes Do Not Indicate for a Total Ban The cryptocurrency environment in India is controversial, to say the least. The authorities of the largest...

Bitcoin’s price trading below $60,000 for over a week now has allowed some whales to accumulate more portions of the asset. On-chain data suggests that long-term holders and whales have bought 0.29% of the total supply in just a week. Bitcoin Whales Accumulating Ever since its peak at $69,000 on November 10th, bitcoin’s price has been on the downfall, losing roughly 20% of its value and bottoming below $56,000 just a week later. While this vigorous price drop in a relatively...

The technical indicators are showing potential signs of a bottom at $55.4K. Bitcoin’s price has built a base of support in the mid $50K area recently, with bullish divergence forming on the 4-hour RSI. It appears that bulls have stepped in and protected $56.2K, which is a technical level of support. The overall trend in on-chain metrics continues to remain bullish despite the recent volatility. The Technicals The longer-term trend and structure remain bullish despite the...

PlanB admitted that his worst-case scenario in terms of BTC’s price movements is about to be proven wrong for the first time. The analyst’s model forecasted a $98,000 price tag for the asset at the end of November, which seems somewhat of a long shot as of now. PlanB’s Worst-Case Scenario CryptoPotato has previously reported the accuracy of PlanB’s worst-case scenario (floor model), as he referred to it, which is separate from the popular stock-to-flow model. However, it was...

Bitcoin’s price has failed to recover and seems to be struggling below the $60K mark. As of now, BTC has lost 7% over the last week, trading in the range of $55-56K, failing to reclaim the 50-day moving average line. Chart by TradingViewThe Technicals Bitcoin’s price painted a lower low yesterday. Today, it continues to decline and taps the critical support zone between $53K and $58K – something we’ve been tracking in our previous analysis. The $53K level provides very strong...

A recent filing with the United States Securities and Exchange Commission (SEC) reveals that the international banking behemoth Morgan Stanley has an increased appetite for BTC, even as the price of the cryptocurrency goes up. According to several filings with the SEC, Morgan Stanley has substantially increased its BTC exposure. The company has done so through buying additional shares of the Grayscale Bitcoin Trust (GBTC). Summarizing the difference between the shares Morgan...

Three years after halting bitcoin payments, citing enhanced volatility and lack of efficiency, the financial services, and software giant Stripe could soon resume its support for cryptocurrencies. During a CNBC-moderated panel at the Fintech Abu Dhabi festival on Tuesday, John Collison – the CEO of Stripe – spoke about the possibilities of his company reenabling digital asset services. Although he failed to provide a conclusive response, Collison said the firm has not ruled...

In a matter of two weeks, one of the largest BTC whales has accumulated more than 6,600 coins as the price of the asset has declined by more than 10% in the same timeframe. CryptoPotato frequently reports the sales and purchases of this particular whale, which tends to sell when the asset’s price has appreciated significantly in a short period of time and vice-versa. In the past several weeks, though, they have been focused on accumulating only, as CryptoQuant’s analyst...

The blockchain data and intelligence provider – Glassnode – revealed that a total of 38.76 million Bitcoin addresses now have non-zero balances. This is the highest level ever recorded since the last peak of 38.7 million marked this April. Bitcoin’s Drop Is Not a Concern Despite its recent price decline, bitcoin charted new heights in another area. According to Glassnode, there are now 38.76 million BTC wallets containing some amount of the primary cryptocurrency. It took...