Tag Archives: btcusdt

Today was an ugly day for the cryptocurrency world. In fact, it was a bad day for the financial markets in general. The U.S. stock indexes fell 2% on average, the FTSE lost 3.64%, the DAX was down 4.15%, oil futures tumbled more than 10%, and cryptocurrencies lost more than $200 billion in capitalization. All because of fears of a new strain of COVID-19 that had speculators and analysts brainstorming scenarios of a possible new lockdown. Recently, scientists discovered the...

Nayib Bukele – President of El Salvador – recently announced that his country has purchased another 100 Bitcoin. That’s about $5.4 million worth of the primary cryptocurrency, at today’s prices. El Salvador Continues to HODL As always, the “CEO” of El Salvador (as reads his bio) casually announced the purchase in a tweet on Friday. Despite Bitcoin’s bearish slump this week, the president has not second-guessed his investment. Instead, he took it as a chance to stack sats. “El...

To cater to the rising demand for digital asset funds, the Singaporean fund manager Fintonia Group has announced the launch of two institutional-grade funds tracking the performance of the world’s largest cryptocurrency. Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund are the two new products offered by the financial services firm regulated by the Monetary Authority of Singapore (MAS). Fintonia’s New Bitcoin Offering According to the report, the two...

One of the wealthiest Mexicans – Ricardo Salinas Pliego – continues with his support for bitcoin by urging investors to allocate money to it. Comparing the primary cryptocurrency to gold, he gave his preference to the former. It’s The New Gold The Mexican billionaire businessman and Founder of Grupo Salinas – Ricardo Salinas Pliego – has been a bitcoin advocate for years. Last year, he admitted he started investing in the leading digital asset in 2016 when it stood around...

It’s been a very volatile week in the cryptocurrency market. Despite the turbulence, some altcoins managed to hold their ground and even appreciated in value, but the same can’t be said for Bitcoin. The primary cryptocurrency is down about 4% on a weekly basis, but this comes after a week of serious volatility. On Monday, the price wicked from $57K to upwards of $59k, only to get rejected almost immediately and drop to below $56K. From there, it started consolidating and...

Avinash Shekhar – Chief Executive Officer of the cryptocurrency exchange Zebpay – predicted that the Indian lawmakers are more likely to impose tough rules on the digital assets than prohibit their usage. The exec added that regulation in the sector is necessary as it could bring many innovators and multibillion-dollar companies. The Vibes Do Not Indicate for a Total Ban The cryptocurrency environment in India is controversial, to say the least. The authorities of the largest...

Bitcoin’s price trading below $60,000 for over a week now has allowed some whales to accumulate more portions of the asset. On-chain data suggests that long-term holders and whales have bought 0.29% of the total supply in just a week. Bitcoin Whales Accumulating Ever since its peak at $69,000 on November 10th, bitcoin’s price has been on the downfall, losing roughly 20% of its value and bottoming below $56,000 just a week later. While this vigorous price drop in a relatively...

The technical indicators are showing potential signs of a bottom at $55.4K. Bitcoin’s price has built a base of support in the mid $50K area recently, with bullish divergence forming on the 4-hour RSI. It appears that bulls have stepped in and protected $56.2K, which is a technical level of support. The overall trend in on-chain metrics continues to remain bullish despite the recent volatility. The Technicals The longer-term trend and structure remain bullish despite the...

PlanB admitted that his worst-case scenario in terms of BTC’s price movements is about to be proven wrong for the first time. The analyst’s model forecasted a $98,000 price tag for the asset at the end of November, which seems somewhat of a long shot as of now. PlanB’s Worst-Case Scenario CryptoPotato has previously reported the accuracy of PlanB’s worst-case scenario (floor model), as he referred to it, which is separate from the popular stock-to-flow model. However, it was...

Bitcoin’s price has failed to recover and seems to be struggling below the $60K mark. As of now, BTC has lost 7% over the last week, trading in the range of $55-56K, failing to reclaim the 50-day moving average line. Chart by TradingViewThe Technicals Bitcoin’s price painted a lower low yesterday. Today, it continues to decline and taps the critical support zone between $53K and $58K – something we’ve been tracking in our previous analysis. The $53K level provides very strong...