Tag Archives: btcusdt

Over the past month, since the May-19 price collapse, BTC had been trading inside a range between $30K from below and $42K from above. Last Tuesday, Bitcoin broke below the range, and for the first time since January 2021, traded beneath $30K. This lasted only for two hours before bulls stepped in for a heavy bounce, which spiked the price over $5k in a matter of a few hours. So, in conclusion, Bitcoin went up a total of 18% since hitting the 5-month low of $28,600 on...

The cryptocurrency investment company in Cape Town, South Africa – Africrypt – allegedly stole nearly 70,000 bitcoins. The two brothers Ameer and Raees Cajee, who are the founders of the firm, have disappeared. The Biggest Crypto Scam in South Africa Bloomberg reported that the customers of the South African trading venue – Africrypt – became victims of a major bitcoin scam, in which 69,000 coins mysteriously vanished. With today’s prices, this substantial amount is worth...

The Bitcoin rollercoaster continues after the price dropped by a precipitous 14% from today’s high of $33,250 to reach as low as $28,600. After hitting this level, the cryptocurrency quickly rebounded back above $32,000 liquidating a huge amount of long then short positions. Yesterday, it seemed like the critical support of $31.7K was holding, however, earlier today Bitcoin broke the ascending trend line (started forming on May 19), losing the $30k support, but, as of now,...

Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities. According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to carry out illegal cryptocurrency mining activities. The latest seizure is the largest ever carried out by...

Jan van Eck, the CEO of the giant investment manager, VanEck, has asserted that the firm’s customers have a growing appetite for a Bitcoin ETF. This comes amid the company’s frequent attempt to have an exchange-traded product approved in the US. During a recent interview with CNBC, van Eck spoke about the company’s plans to enter the cryptocurrency space through an exchange-traded fund that tracks the performance of bitcoin. The firm has already filed for a few such ETFs. It...

The consequences of the nationwide Chinese crackdown on Bitcoin mining are more than evident in a few short weeks. The hashrate has dropped dramatically by nearly 50% from its peak, the number of daily issued coins has declined, and the Puell Multiple has reached a multi-month low. The Effects of the Chinese Crackdown Although Bitcoin has been banned in China for years, the Asian Superpower doubled down on its stance just recently. It went further this time by ordering...

Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000. Bitcoin’s price is currently trading below $30,000. This hasn’t happened in months as the last time we saw these levels was in January 2021. BTC/USD. Source: TradingViewOther cryptocurrencies are also following suit with most of the altcoins charting double-digit declines on the weekly. This has also led to almost $800 million worth of liquidated positions...

Now, on-chain analytics and reports from fund managers are showing significant Bitcoin outflows amid continued crypto restrictions in China. Multiple Bitcoin Bear Market Signals In its weekly report for the period ending June 21, 2021, published on Monday, digital asset investment outfit CoinShares revealed $79 million in outflows from institutional crypto investment funds. This report marks the third consecutive seven-day period to see a negative balance on the flow of...

As a continuation to its nightmare’s week, Bitcoin dropped another 8% from today’s $35,600 opening price and recorded a current low of $31,700, according to Bitstamp. The primary cryptocurrency has been in a downtrend since reaching a weekly high of above $41.3K on Tuesday, and so far had seen a drop of 24% in just six days. After another Death Cross that took place on Saturday, where the 50-day MA crossed below the 200-day MA, the bulls are now attempting to defend a...

Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist. The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st. It came after the firm raised $500 million through an offering of senior secure notes, as reported earlier. MicroStrategy has purchased an additional...