Bitcoin (BTC) witnessed a massive bullish spike yesterday following confidence-boosting comments from Elon Musk at an event on Wednesday. Musk reiterated his support for the benchmark cryptocurrency at a virtual panel hosted by Crypto Council for Innovation, which also hosted Jack Dorsey and Cathie Wood. Back in May, the Tesla CEO triggered the prevailing bearish […]
According to a recent study organized by Fidelity Digital Assets, seven out of ten global institutional investors (70%) will likely purchase cryptocurrency in the future. Meanwhile, 50% of the participants in the survey revealed that they already own cryptocurrencies. Most of the participants asserted that the highly volatile nature of digital assets was not enough […]
Despite the recent crash below the critical $30k level by Bitcoin (BTC), on-chain metrics from Glassnode suggest that whales are still on binge acquisition mode. According to the analytics platform’s weekly report released yesterday, the benchmark cryptocurrency’s reserves on crypto exchanges are on a steady decline despite having turned bearish since its sustained drop below […]
Bitcoin (BTC) has recorded yet another negative mining difficulty adjustment after dropping for the fourth consecutive time yesterday by about 5%. The latest adjustment brings the mining difficulty to its lowest point since January 2020. This drop comes because of the ongoing mining facility clampdown in China over the past few weeks. With fewer computational […]
A POSITION TRADING STRATEGY FOR CRYPTOSAs it has been said before, the best way to make money from viable cryptos is to buy and hold them forever, since investments that are worthwhile are also investments that appear in your will. Apart from a ‘buy and hold’ method of investing, there are other ways to make […]
As Binance comes under regulatory pressure, the cryptocurrency industry took a plunge on Thursday as regulation concerns across the world intensified. At press time, Bitcoin and Ethereum are both down by 4%, as the entire market bleeds. Earlier today, Italian market watchdog Consob stated that Binance, the world’s largest cryptocurrency exchange by spot trading volume, […]
According to a fund manager survey for July posted by Bank of America (BofA), “long Bitcoin” has dropped to the number three spot as the most crowded trades. The Global Fund Manager Survey is Bank of America Securities’ monthly report is a survey carried out on about 200 institutional, mutual, and hedge fund managers around […]
On-chain analytics company Glassnode recently reported on the Bitcoin (BTC) network, noting that it is, fundamentally, in a healthy state despite the vacillating price action. The analytics provider revealed that we are in an “impressively quiet week,” as BTC remained range-bound between $34,900 and $32,500. Glassnode noted that: “It is starting to feel like the […]
Authorities of the People’s Bank of China (PBoC) are on the neck of the cryptocurrency industry once again. This time around, they have issued a notice to local institutions, warning them against providing services to crypto-related companies. The Chinese government has ramped up its anti-crypto activities in the past few weeks, causing several local crypto […]
