Tag Archives: BTCGBP

BTC made a strong daily close above the 3-month long trading range, confirming the first major step of a higher breakout. The largest cryptocurrency closed at $42.8k, blasting above the top of the trading range at $41.3k and the near-term high at $42.6k. Chart by TradingView Near-Term Caution For Bitcoin’s Price So far today, BTC continued to push higher even with weekend trading hours, reaching an intraday high of $44k before cooling off. On Friday, the third-largest whale...

The British YouTuber and rapper – KSI – revealed that he is a strong supporter of Bitcoin. According to him, the primary cryptocurrency represents the future, and hodlers would profit in the next years. ‘I’m Really into Crypto’ Olajide Olayinka Williams “JJ” Olatunji, better known as KSI – meaning Knowledge, Strength, and Integrity – opined strongly in favor of Bitcoin recently. Speaking to the British magazine GQ, he argued that the digital asset would play a major role in...

The bitcoin bulls came to play once more and pushed the cryptocurrency to a new near three-month high of around $44,000. Most alternative coins have seen gains as well, with ETH closing down to $3,000. The total market cap added another $100 billion in a day. Bitcoin Touched $44K Ever since the middle of the week, bitcoin’s price has been on a roll for most of the time. It recovered thousands of dollars in days and reached $40,000 on Thursday. At the time, though, the bears...

With new regulation and taxation on the cryptocurrency industry coming from the U.S., the situation just took another turn as President Joe Biden openly supported the highly unfavorable amendment proposed earlier by Senators Mark Warner and Rob Portman. Biden’s backing seems to target proof-of-stake assets, while mining appears untouched. Sitrep: Taxation and Regulation on Crypto in the U.S. The growth of the cryptocurrency sector pushed global watchdogs to strengthen their...

It was an exciting week in the cryptocurrency market with a lot of developments – both in terms of price and otherwise. Bitcoin went through a correction but managed to recover, while Ethereum’s long-anticipated London hard fork went live officially. Starting off with BTC’s price, the week was rather intense. Last weekend, we saw the cryptocurrency appreciating all the way up to $42K. The bulls were exhausted at this point, as multiple indicators started flashing overbought...

Bitcoin Bitcoin surged 8% today as it reclaims $40K but is just up 2% on the week. Last Friday, Bitcoin was trading inside an ascending price channel as it breached the January 2021 high at $42,000 to reach as high as $42,400 over the weekend. From there, BTC rolled over and broke beneath the ascending price channel on Monday. It then traded downward inside a descending wedge formation – best seen on the 4-hour chart. This wedge saw the price of BTC being driven lower until...

BTC entered a near-term pullback after reaching overbought conditions at $42.6k last week. The price fell for four consecutive days, wiping out leveraged longs upon every new intraday low. What Happened During the Recent Pullback With 10 consecutive daily candles higher, extremely overbought conditions on the 4-hour and daily chart, the price at technical resistance, and the third-largest whale sending 3000 BTC to Coinbase, the market was flashing a major signal of a local...

JPMorgan reportedly allowed its wealth management clients to get involved with half a dozen cryptocurrency funds over the past month. One of them – a new bitcoin fund created by the digital asset company NYDIG – is only available for private bank customers. New Crypto Offerings from JPMorgan According to a CNBC report, the American multinational investment bank – JPMorgan Chase & Co. – has provided its top customers with digital asset exposure to six cryptocurrency funds...

Customers of the German fashion company Philipp Plein International AG will get the chance to buy products in digital assets instead of fiat money. The supported virtual currencies will be 15 and will include the leading ones – Bitcoin and Ethereum. ‘Cryptocurrencies Are The Future’ In a recent Instagram post, the fashion group Philipp Plein announced that it would start accepting payments in cryptocurrencies. The company’s clients can now pay for clothes, shoes, and other...

The popular Bitcoin stock-to-flow model is flawed, and the asset’s price might not reach a six-digit territory as it predicts, claimed the CEO of CryptoQuant, Ki Young Ju. In a recent interview, he also spoke about the declining issuance of stablecoins, the negative GBTC premium, and the potential consequences for BTC’s price. BTC S2F Model is Flawed Developed a few years back, the stock-to-flow model and its variations take into account the annual supply of BTC (flow) and...