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Following yet another day of high volatility in which the bears had initial control, bitcoin has recovered roughly $3,000 of value from the current 7-day low recorded on Saturday. The altcoins followed suit with similar dips as the market cap had lost about $200 billion at one point. Just like the weekend before, this ongoing weekend is not disappointing in terms of volatility and price fluctuations. Bitcoin Recovers From Yet Another Dip It’s safe to say that the primary...

Cryptocurrency-focused hedge funds have increased their assets under management by nearly 100% in 2020 compared to the previous year, estimated a recent report compiled by PwC. On average, the funds returned more than 120% in 2020, while the percentage was just 30% in 2019. Growing Involvement of Crypto Hedge Funds In their third annual Global Crypto Hedge Fund Report, PwC and the Alternative Investment Management Association (AIMA) reviewed the performance of actively...

Bitcoin is no longer regarded as a niche asset as its high price fluctuations impact the stock markets, concluded researchers from Singapore’s DBS Group Holdings Ltd. In a recent paper, they outlined the increased correlation between the two markets ever since BTC started to appreciate in value in late 2020. Bitcoin Is No Longer a Fringe Asset The primary cryptocurrency went through a significantly bullish period from the start of October 2020 to mid-April, in which its value...

Christopher Hui – Hong Kong’s Treasury Secretary – agreed with the government’s intentions to implement certain crypto regulations in the megapolis as he believes Hong Kong would ultimately benefit from them. This Is The Right Decision In a recent speech, the Treasury Secretary of Hong Kong – Christopher Hui, backed up the proposal of the Financial Services and the Treasury to ban retail cryptocurrency trading. He said that the move was a well-thought decision and its...

Bitcoin’s enhanced volatility resumed in the past 24 hours as the cryptocurrency fell to its lowest price level in five days beneath $35,000. Most alternative coins also experienced similar dips and increased BTC’s market dominance to above 43%. Bitcoin Dipped Below $35K After recovering from its most violent losses to $30,000, the primary cryptocurrency was riding high for a few consecutive days. The asset challenged $40,000 on a few occasions and even briefly jumped above...

The United States Securities and Exchange Commission (SEC) has filed a lawsuit against five individuals in connection with BitConnect for promoting and selling unregistered securities. BitConnect is a notorious cryptocurrency Ponzi scheme that stole billions of dollars from investors, making it one of the biggest scams in the crypto industry. The SEC alleges that the defendants helped market BitConnect’s global unregistered securities sales, raising over $2 billion from...

U.S. chain of convenience stores Sheetz, has become the latest company to adopt cryptocurrency, as the firm is planning to include bitcoin and other crypto-assets among its payment options. Sheetz Adopts Bitcoin According to a press release on Thursday (May 27, 2021), Sheetz will become the first convenience store retailer to accept bitcoin as a payment method. The family-owned business founded in 1952 operates over 600 stores in different locations in the U.S. The latest...

Polygon, the Ethereum layer-2 solution formerly known as Matic Network, announced today its blockchain datasets will be integrated on Google Cloud. Polygon Coming to Google Cloud The initiative aims to provide developers, data analysts, and crypto-enthusiasts with a better understanding of the Polygon blockchain. Google’s BigQuery would ensure that query and in-depth analysis of Polygon’s on-chain data are conducted in a simple and organized manner using the Google Cloud...

Although the organization he runs is significantly more opened to the cryptocurrency world these days, JPMorgan’s CEO, Jamie Dimon, advised people to stay away from digital assets. Nevertheless, he admitted that institutional clients of the bank have shown a high demand for such products in recent months. Stay Away From Crypto, Says Dimon The Chairman and Chief Executive Officer of JPMorgan Chase and Co has a somewhat controversial history with bitcoin and the rest of the...

Less than a month after VanEck filed documents with the SEC to launch an Ethereum ETF, WisdomTree has done the same. The asset manager, based in New York, has previously applied for Bitcoin ETFs but to no avail so far. Founded in 2006, WisdomTree is an American exchange-traded fund and exchange-traded product sponsor and asset manager with over $42 billion in AUM (as of 2018). According to a recent filing with the US Securities and Exchange Commission, the organization plans...