Tag Archives: BTCGBP

The latest data revealed that 78% of the UK residents have heard of cryptocurrencies, as 2.3 million of them hold some of them. Nonetheless, the overall understanding of digital assets has declined. More HODLers But Less Crypto Knowledge Digital assets remain a complicated industry in the UK, and the share of people investing in them is significantly lower than in other countries. However, the public awareness surged by 5% in a year, as in 2021, 78% of the locals have heard...

After several days of adverse price developments, bitcoin has calmed just over the $35,000 price tag. Most alternative coins, though, continue to register price losses, with ETH sliding to $2,200 again and XRP dumping by more than 5% in a day. Bitcoin Stalls Above $35K The workweek was going in bitcoin’s way for several days as it had spiked above $40,000 to a new 26-day high at $41,375 on Tuesday. As the community started preparing for another leg up that can take the asset...

Teresa Jackson – a retired teacher from Portishead, Somerset – lost her savings in an online scam. A mysterious ”financial advisor” persuaded her to stake £120,000 in a bitcoin investment scheme advertised on Instagram. Universal Credit Instead of Multiplying Her Money The UK’s national reporting center for fraud and cybercrime sounded a note of caution that crypto investing could be a hazardous operation. Action Fraud and Citizens Advice informed about the case of Teresa...

The Q4 2019 and Q1 2020 crashes were both preceded by a death cross and signified that the tides in the market are about to shift in a big way. Why Does a Death Cross Work? The death cross indicator has been reliable in both the stock and crypto markets – it predicted 4 major crypto crashes, as well as the 1974 and 2008 stock market collapses. When a bull market ends, short-term momentum (indicated by the 50-day moving average line, or 50MA) starts to slow down. The Death...

The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.” Crypto Is Not a Viable Investment: Goldman It’s safe to say that Goldman Sachs has displayed a controversial approach to the cryptocurrency space. The latest report coming from...

The weekends continue to bring adverse price developments for bitcoin as the asset fell to a six-day low of $35,000. The situation with the alternative coins is similar, with ETH dumping to $2,200 and BNB below $340. The total market cap is down by $100 billion in a day. Bitcoin Slips to 6-Day Low The workweek was going well at one point for bitcoin, which spiked to and above $40,000. The bulls drove the asset to a new 3-week high at almost $41,400, but they failed to keep...

Over the past seven days, we saw yet another unsuccessful attempt of Bitcoin to breach the coveted $40K mark definitively. Let’s roll back a little. Last weekend, the price was rather indecisive as it was struggling beneath $36K. All this changed on Sunday, however, when bulls stepped in and took control over the market. By Monday, BTC was trading above $40K, and it actually managed to stay there for a few days. This saw the community rather enthusiastic as the price was...

The bitcoin reserves on BlockFi – the popular lending and borrowing platform enabling users to receive interest – have declined to an all-time low. This, combined with recent reports claiming that whales have started to sell off their positions, raises the question of whether large BTC investors may have averted from HODLing. BlockFi BTC Reserves Decline Founded in 2017, BlockFi allows investors to lend their cryptocurrency assets in order to gain interest. However, it seems...

The Chinese government has reportedly intensified its crackdown on cryptocurrency mining and usage in the country by shutting down several crypto mining facilities in Sichuan. Sichuan Bitcoin Miners Join the List According to Wu Blockchain, the authorities of the Sichuan province officially issued a statement today, mandating every power supply company in the province to stop providing energy to crypto mining firms. The statement also reportedly clarified that the power...

The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance. Bitcoin Bitcoin is up by a very small 2.8% over the past week as it currently trades at $37,900 – just above the 20-day MA. The coin had provided some hope at the start of the week as it surged above $37,000 to break a falling trend line that has been in play since the mid-May...