Tag Archives: btcusd

After a sharp drop that led BTC for another retest of $32,000, the asset has recovered and climbed back up to nearly $34,000, as of now. However, its dominance continues to decrease as some alternative coins have outperformed their leader, including XRP surging above $0.60.Bitcoin Eyes $34,000The primary cryptocurrency went through a roller-coaster on Friday after Tesla’s CEO Elon Musk updated his Twitter profile to include “Bitcoin” as the only description.The asset responded with an...

Faced with growing currency devaluation, institutions are adopting bitcoin as a store of value. Bridgewater Associates’ founder, Ray Dalio, has set aside his skepticism for bitcoin to explore this possibility.Dalio Applauds Bitcoin In a recent newsletter, he expressed his admiration for Bitcoin, stating that its longevity is “an amazing accomplishment.”“To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly...

The narrative that institutional investors drove BTC’s price into the stratosphere in late 2020 received another confirmation from a research paper compiled by the popular exchange OKEx. The company’s document pinpointed Paul Tudor Jones’ endorsement of bitcoin in mid-2020 as the turning point for institutional adoption.PTJ Changed The Bitcoin GameIt was early May, the world had started to feel the adverse effects of the COVID-19 pandemic, global economies had begun contemplating their next...

The Bitcoin whipsaw continues as it failed to break the marked bearish triangle’s upper angle and immediately dropped by $2000 to hit the $32,500 support, provided by a .382 Fibonacci Retracement level.The outlook for Bitcoin looked promising on Friday following the tweet by Elon Musk. BTC price managed to break out to the bullish side of the descending triangle pattern. However, this breakout was short-lived and turned into a fake-out as the coin failed to close a 4-hour candle above...

The largest US-based crypto exchange Coinbase has classified bitcoin and several altcoins as institutional assets following the developments in 2020. In its yearly report, the company has confirmed the growing institutional interest, the maturing market, and, somewhat surprisingly, the expanding appetite from corporations towards ETH.2020 Established Bitcoin As An Institutional AssetThe challenging last year saw the emergence of Bitcoin as an asset fit to serve the needs of institutional...

The debate as to whether or not we are still very early on in the cryptocurrency space is one that’s been going on for quite some time. For some reason, a lot of people tend to tie it up to the current pricing of different cryptocurrencies – something, that in my opinion, has nothing to do with the bedrock of the conversation.We’re in a bubble. Well, at least most of us are in a bubble. And I’m not talking about prices.The Bitcoin BubbleWhether you realize it or not, we’re in a bubble. Me,...

Popular blockchain company, Blockstream has purchased $25 million worth of MicroBT’s WhatsMiner M30s Bitcoin mining hardware. Blockstream stated in an announcement that it plans to deploy the hardware across its various mining facilities located in the United States and Canada. A Top Secret Mining FacilityFurthermore, Blockstream disclosed that it would allocate some of the mining equipment to a new “top-secret” mining facility it plans to launch soon. The purchase will be an essential...

The largest US-based cryptocurrency exchange Coinbase plans to go for a Direct Public Listing (DPO) of its Class A common stock. The firm expects the Form S-1 filed with the US Securities and Exchange Commission to become effective after the Commission completes its review.Coinbase Aims For Direct Public ListingCryptoPotato reported in December that the San Francisco, California-based had submitted a draft registration with the SEC to go public with an initial public offering (IPO). Early...

Following the highly volatile few days in which BTC displayed $6,000 price moves in both directions, the cryptocurrency has calmed around $34,000. At the same time, XRP and a few more altcoins have exploded in value and reduced BTC’s dominance to 62.5%. Uniswap’s UNI token even hit $20.XRP’s Massive Surge Reclaims #4th SpotThe past few days have been anything but boring in the cryptocurrency space – from the retail-driven hype for Dogecoin and up to four-digit gains, through the Elon...

Visa, the world’s leading payment processor with millions of merchants in its network and hundreds of millions of users, might add cryptocurrencies to its payments network.Visa Jumps on the Crypto BandwagonVisa, the multinational financial services corporation, might be joining the cryptocurrency bandwagon.In the company’s fiscal first-quarter 2021 earning call, the CEO of the company, Al Kelly, said that they are in a position to make cryptocurrencies more “safe, useful, and applicable.”In...