Tag Archives: BTCGBP

Despite the FTX meltdown and the consecutive decline of the cryptocurrency market, the Founder and CEO of Ark Invest – Cathie Wood – stands by her prediction that bitcoin will skyrocket to $1 million by 2030. She also seems unfazed by the price crash of Grayscale’s Bitcoin Trust (GBTC) since her company purchased additional 176,945 shares. BTC Bull Regardless of the Reality The shocking collapse of the crypto exchange FTX deepened the problems in the crypto sector and...

The government of El Salvador presented a bill that could set comprehensive rules on the local crypto sector and regulate the operations of all digital asset providers in the country. The ruling body is also one step closer to issuing blockchain bonds that could aid the development of certain BTC endeavors in the Central American nation. The bear market has not changed the pro-bitcoin stance of President Nayib Bukele. He disclosed last week that El Salvador will purchase one...

The American senators – Elizabeth Warren, Tina Smith, and Richard Durbin – advised Fidelity Investments to reconsider its decision to allow investors to add bitcoin to their retirement 401(k) plans. One of the largest mutual fund companies in the US has heavily engaged in the crypto sector in the past few years. It recently considered providing bitcoin trading services to individual investors on its brokerage platform. A Renewed Warning After FTX’s Fiasco Fidelity Investments...

Bitcoin crashed back beneath $16,000 on Monday, marking another 2-year low of $15,588.  Bitcoin began to show weakness at $16,000 at roughly 16:30 UDT, when the price briefly wicked down to $15,917. The asset then recovered to roughly $16,000, before crashing again to $15,588 at 19:45 UDT.  Ethereum also collapsed below $1,100 to just $1,084 at the time. The last time Bitcoin’s price touched these lows was in early November 2020, prior to Bitcoin’s bull market run that took...

American billionaire venture capitalist Tim Draper has reiterated his bullish support for Bitcoin despite the crypto winter intensified by the sudden crash of the FTX exchange.  Draper predicted last June, during the bull market, that the leading crypto asset would reach $250,000 by the end of 2022. However, his prediction is less likely to happen this year since the largest cryptocurrency is now trading below $17,000 following the FTX fiasco.  Women and Retailers Can Push...

Bitcoin has not made any decisive moves in days as the asset remains stuck below $17,000. This is expected to an extent today, given the unusually low trading volumes. As such, the alternative coins have stalled, too, with ETH struggling to sustain above $1,200. Bitcoin Flat Below $17K The past two weeks were highly different from one another. The previous one saw massive turbulence propelled by the collapse of once the third-largest cryptocurrency exchange FTX. Bitcoin...

Dogecoin’s Shibetoshi Nakamoto believes a potential crash of the crypto exchange Binance or the stablecoin-issuer Tether could severely destabilize the entire industry. He also advised people to do appropriate research and understand the digital asset’s sector specifics before entering it. Binance/Tether Collapse Could be Devastating The Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – thinks if either Binance or Tether goes down,...

The past year or so has not been kind to the primary cryptocurrency, following many industry and macroeconomic adversities. Even though the asset has lost roughly 80% of its value since the all-time high last November, some estimations show that it could drop further, perhaps to the four-digit territory. It was approximately a year ago when the industry was booming, led by the massive gains charted by the largest cryptocurrency. Perhaps fueled by the futures ETF launched in...

Bitcoin continues to be unable to conquer $17,000 and struggles beneath that line on low Saturday trading volumes. Most alts are quite stagnant today, with little-to-no substantial moves. Algorand is among the few exceptions. Bitcoin Boring Below $17K The past week was significantly different that the previous one, in which bitcoin experienced some of its most violent price declines following the rapid collapse of FTX. In a matter of days, the asset went from over $21,000 to...

It’s clear that the market remains fearful of potential contagion from the FTX fallout. As a result, market participants are offloading their assets from the exchanges, which might trigger the last phase of this bearish cycle’s capitulation. Technical Analysis By Shayan The Daily Chart The market has likely entered a new phase of short to mid-term consolidation as the price dropped significantly. Nevertheless, during the consolidation phase, the price might retest the...