Meitu is a software development firm listed on the Hong Kong Stock Exchange, most known for its selfie-editing app. The app was massively popular in China before adding built-in filters and editors to major social media platforms.Since then, however, the company has struggled to find new avenues of growth. Now, the company is following other major corporations’ footsteps and buying cryptocurrency, not only because they believe the price will go up.Hundred-Million Dollar Buy-InToday, Meitu...
Read More »Billionaire Howard Marks Regrets His Dismissive Comments on Bitcoin
Billionaire US investors and writer Howard Marks is among the latest prominent individuals to warm up to bitcoin. In a recent interview, he regretted calling the cryptocurrency “unfounded fad” by saying that his comments were a “knee-jerk reaction without information.”Marks Changes his Tune on BTCBeing a relatively new invention aiming to revolutionize the stagnant traditional financial industry, bitcoin was the subject of numerous attacks, neglections, or mere dismissals.However, its...
Read More »Wall Street Giant Morgan Stanley to Enable Institutional Clients Access to Bitcoin
Just a few months after America’s oldest bank announced bitcoin custody services, the Wall Street giant Morgan Stanley will start offering its clients access to BTC funds. Nevertheless, the bank has outlined bitcoin’s risky nature and said that only people with “an aggressive risk tolerance” should take advantage of the service. By citing an internal memo sent by Morgan Stanley to its financial advisors, CNBC reported the significant milestone in BTC’s adoption cycle earlier today. The...
Read More »Bitcoin Price Analysis: BTC Continues This Week’s Bearishness, Next Stop $51K?
The short-term bearish momentum for Bitcoin continues, following another 3.5% price decrease today as the cryptocurrency dropped by a total of $2,000 into the $55K zone.BTC had been performing well last week as it followed a steep ascending price channel and even managed to create a fresh ATH over the weekend at $61,780 (according to Bitstamp). From, there, it started to head lower as it broke beneath the ascending channel on Monday.The cryptocurrency found support at $54,560 (.382 Fib) on...
Read More »Retail Investors Bought More Bitcoins Than Institutions in Q1 2021, JPMorgan Says
Retail investors have finally arrived at the bitcoin scene and have outbought institutions, claimed analysts from the giant multinational investment bank – JPMorgan Chase & Co. By analyzing data on popular retail-oriented brokerages, such as Square and PayPal, they concluded that smaller investors had bought nearly 190,000 bitcoins so far in this quarter.Retail Has ArrivedThe cryptocurrency community speculated for months if or when retail investors would come for BTC. After all, the...
Read More »Ripple Seeks Documents on Bitcoin and Ethereum from the SEC
The legal dispute between Ripple and the SEC continues with full force as the payment processor has requested the Commission to produce documents regarding Bitcoin and Ethereum – as they were officially deemed not to be securities.At the same time, thousands of XRP holders have asked the federal judge in charge to serve as third-party defendants as well.Ripple Seeks Documents on BTC and ETHThe latest developments in the Ripple vs. the SEC lawsuit came to light yesterday following a new letter...
Read More »Institutions Coming in Have Turned Bitcoin Into an Asset Class, Says Mike Novogratz
Young Americans want to buy bitcoin, and they will use the stimulus checks to do so, said Galaxy Investment Partners’ CEO Mike Novogratz. He added that the primary cryptocurrency had become a proven asset in the past few months with the entrance of giant institutions and corporations.Retail Pushed Bitcoin Higher, Says NovogratzThe first-ever cryptocurrency went on a wild run in the past few days. During the weekend, bitcoin broke its previous ATH, breached above $60,000, and marked a new...
Read More »Bitcoin Price Analysis: Where is The Next Critical Support Following Today’s BTC Plunge?
Bitcoin dropped by a sharp 6% today as the cryptocurrency retraced from $60K to reach as low as $54,557 on Bitstamp (.382 Fib) as of writing these lines.Prior to today’s price drop, Bitcoin concluded another bullish week in which it bounced from $56,110 to reach a new all-time high price at $61,780 on Saturday.Simultaneously, as shown on the short-term 4-hour chart, Bitcoin had managed to break above the neckline of an inverse head & shoulders pattern at around $52,500. The breakout...
Read More »Update: Huge Gemini Inflows of 18K BTC: What’s Behind it and is This Why Bitcoin Dumps?
Bitcoin fell by over 10% in a day to about $55,000 following a considerable correction. On-chain data suggests that it could be attributed, to some extent, to sizeable deposits to the large US-based cryptocurrency exchange Gemini, just before the drop. However, Glassnode data refutes this option, claiming that the transfers were internal.18K Deposited to Gemini Prompted the Price Slumps?Everything seemed to be going in BTC’s way in the past several days. The asset had just recovered from its...
Read More »India Reportedly Plans to Criminalize Bitcoin and Other Cryptocurrencies
After temporarily breaking the ice on bitcoin regulations, the Indian government is doubling down its efforts to restrain cryptocurrency use. A new bill on the way could place cryptocurrency holders and miners at risk of fines and possible jail time.New Indian Anti-Bitcoin Bill On the CardsA fresh Reuters report claims that India is preparing a new heavy-handed anti-bitcoin bill. Previous regulations in the country targeted the use of private coins, but the new bill will outrightly...
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