Tag Archives: BTCGBP

In a 100-page deep-dive report dubbed “Bitcoin, at the Tipping Point,” Citibank’s global perspectives and solutions team noted that the cryptocurrency could potentially “become the currency of choice for international trade.”The analysts acknowledged that the massive interest shown by several large institutional investors like Tesla, Microstrategy, and PayPal is one of the major propellants for the digital asset gaining mainstream adoption.The team further noted that several other factors,...

Bitcoin saw a strong rebound today as it recovered from yesterday’s low at $43,000 to over $48K, where it is trading as of writing these lines.The cryptocurrency had been in a downtrend for the previous week as it dropped by over 25% to reach its weekly low yesterday, at the mentioned-above level of $43K (according to Bitstamp).During the correction, Bitcoin had broken beneath an ascending price channel that it was trading within throughout February. However, over the past days, BTC was...

The giant social media platform Twitter has announced plans to raise $1.25 billion through a convertible senior notes offering. Although the company breached “corporate purposes” as the main reason, cryptocurrency proponents speculated if the firm could pull a MicroStrategy and allocate the funds in BTC.Twitter to Raise $1.25BAccording to a press release from earlier today, Twitter will offer a $1.25 billion aggregate principal amount of convertible senior notes due in 2026. The endeavor will...

PlanB, the creator of the well-known Stock-to-Flow (S2F) Bitcoin model, took it to Twitter to provide an update on how the cryptocurrency is performing following the latest developments in the market.BTC continues to follow the S2F cross-asset (S2FX) model “like clockwork,” despite the most recent correction and is still on track to reach $288,000 by 2024.What is the S2FX?First things first, the stock-to-flow cross-asset model takes a new approach compared to the stock-to-flow model. It...

FD7 Ventures, the cryptocurrency-oriented fund that recently vowed to dispose of its BTC holdings for ADA and DOT, has set up a $250 million micro-fund focusing on investments in teams working on the ecosystems of Polkadot and Cardano.FD7 Goes to India for DOT and ADABased in Dubai, UAE, FD7 is a crypto-oriented investment fund with over $1 billion in assets under management (AUM). The firm recently announced somewhat bold plans to dispose of $750 million of its BTC holdings and allocate the...

What started out as a normal trading day for some PDAX customers led to a favorable turn of fortune, or so it seemed. Their euphoria may have been short-lived by a harsh reality check as the Philippine-based exchange prepares to take legal actions.Philippine Digital Asset Exchange (PDAX) suffered a flaw that led to bitcoin trading 88% below its actual price. The exchange reported that a surge in trading activity was the cause. At the time, bitcoin was trading north of $50k, but traders were...

Bitcoin seems to be going from bad to worse, with another 7% price drop today.BTC decreased by a total of $3,300 today as it dropped below $47,750 and also beneath the important support at $44k.The cryptocurrency continued to spike downward, reaching as low as $43,000 before a slight rebound, as of now.Looking at the short-term 4-hour charts, Bitcoin dropped off the support at the 200 EMA today as it broke beneath $44,750.However, there might be some hope for the bulls. BTC might be forming a...

Rebecca Patterson, the director of investment research at Bridgewater Associates, said bitcoin could be better compared to gold than a currency due to the similarities between both assets, thus, supporting the digital gold argument.Bitcoin As Digital GoldIn a recent interview with Bloomberg, Patterson said she wouldn’t call bitcoin an alternative currency, I think if anything, it’s an alternative to gold or digital gold. I think that would be the better comparison.”Despite calling BTC an...

After a relatively positive Saturday, bitcoin has headed south again by dropping below $44,000 to its lowest price since February 10, 2021. The altcoin space has it even worse with substantial double-digit declines, and the market cap has lost another $120 billion to $1.350t.Bitcoin Price Falls Beneath $44K as Miners Sell-OffThe primary cryptocurrency showed brief signs of recovery during yesterday’s trading session as it gained about $4,000. However, this positive performance was...

A month after launching a Bitcoin ETP on Switzerland’s SIX Exchange, CoinShares has released a physically-backed exchange-traded product following the performance of the second-largest cryptocurrency – Ethereum. Describing itself as “Europe’s largest digital asset investment house,” CoinShares is a cryptocurrency-oriented manager with over $4 billion in AUM. The company, headquartered in London, announced the launch of its latest crypto product – a new physically-backed ETP tracking the...