Tag Archives: btcusdt

The investment department of the large multinational financial service organization, Wells Fargo, is looking into offering cryptocurrency products to its institutional clients. A senior executive outlined the innovation in a recent interview and called bitcoin “a nice diversifier.” Wells Fargo Getting on the BTC Wagon? In a recent interview with BusinessInsider, Darrell Cronk, president of the Wells Fargo Investment Institute (WFII), highlighted the bank’s recent...

Analysts of the banking giant JP Morgan opined that institutional investors might withdraw from Bitcoin and turn their sight back to gold as the price of the primary cryptocurrency collapsed. Back to Gold The turbulent times for cryptocurrencies caused some analysts to doubt bitcoin’s merit as a store of value. According to JP Morgan experts, the recent crash of Bitcoin can reflect on the entire financial world. They seem to believe that many investors will panic-sell their...

The enhanced volatility in the crypto market continues to harm leveraged traders as the liquidations in the past 24 hours are more than $8 billion. Naturally, roughly 90% of all liquidations came from long positions. It’s safe to say that the cryptocurrency market has seen better days. The entire capitalization saw around $900 billion evaporated in the span of a week. It all started with Elon Musk’s statement asserting that Tesla had stopped receiving bitcoin for its electric...

Bitcoin saw another sharp 17% price drop today, causing the cryptocurrency to spike as low as $36,250 as of writing these lines. In total, the coin has now dropped by over 30% in a matter of days, and 40% below the current all-time high at around $65k. The first signal for the bitcoin downturn was the break beneath the rising trend line at the beginning of the past week when BTC fell beneath the $50,000 psychological support. From there, the coin continued to drop to find...

The honeymoon period between Tesla and Bitcoin may have ended as the latter’s price has returned to levels before the EV-maker entered the scene. Despite the massive crash, though, several on-chain instruments suggest that long-term holders have refused to sell, while some larger whales may have used the opportunity to buy the dip. Bitcoin Back to Pre-Tesla Price Levels Elon Musk’s electric vehicle giant broke the internet in early February when it revealed that the firm had...

Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins. The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th. It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per...

The cryptocurrency community has shown the highest optimism levels towards bitcoin in the past few days after the asset lost over $16,000 of value. At the same time, the popular fear and greed index has gone into an “extreme fear” territory. Crypto Investors Optimistic on Bitcoin? Ever since the primary cryptocurrency reached its latest all-time high in mid-April of $65,000, it has failed to sustain its 2020/2021 bull run. Just the opposite, the asset started to gradually...

9 out of 10 of all Bitcoin (BTC) mining pools have been signaling for taproot activation, an upgrade that could highly improve network scalability and privacy. However, its activation seems unlikely during the Difficulty Epoch for Bitcoin. The latest mining pool to signal Taproot activation is BTC. Top, which did so on block height 683,945. Other top mining pools like F2pool and Antpool have previously shown support for the soft fork upgrade, which would give more flexibility...

A new rule under the hat of the COVID-19 relief bill will see 39 million US households receive up to $3,600 monthly starting from mid-July. Given the history between BTC’s price appreciation since the first-ever stimulus bill, the narrative rises now if this latest endeavor will push bitcoin higher again. 39M American Families to Receive up to $3.6K Per Month The COVID-19 pandemic pushed the US government (and many others) to undertake extreme measures to help alleviate the...

In the span of a month, bitcoin went from $65,000 to $42,000, which officially became the largest correction since the bull cycle began in October 2020. So far, it has taken the asset between four and five weeks to recover all losses and head towards a new high during previous similar developments. As such, the question remains if history will repeat itself once more. Worst 2020/2021 Bull Run Correction Although it seems like a lifetime ago, it was just last October when the...