The price of Bitcoin (BTC) rose 20% on Jan. 12 from $30,500 to around $36,600 across major exchanges. But while the rebound after the correction has been strong, there are two warning signs. BTC/USDT 1-hour price chart (Binance). Source: TradingView.com First, the funding rate in the futures market remains high. The funding rate is a mechanism
Central Bank Digital Currencies (CBDCs) have been an integral part of progressive discussions within the cryptocurrency community. CBDCs are virtual representations of the fiat currency of a particular country. They are often based on blockchain technology and are issued and regulated by the official monetary organization of the country. The feature that makes them different
Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to
Bitcoin faced an extremely steep correction on Sunday and Monday after last week’s surge to new all-time highs. The cryptocurrency fell as low as $30,000 after peaking at $42,000 last week. A large portion of Bitcoin’s drop was apparently a byproduct of Coinbase’s downtime, Willy Woo says. Monday’s Bitcoin Correction Bitcoin faced an extremely steep
Global payments provider PayPal has doubled its previous crypto volume record, with $242 million worth of digital assets changing hands on the platform during Jan. 11. According to crypto market data aggregator Nomics, yesterday’s trading dwarfed PayPal’s previous volume record of $129 million recorded on Jan. 6. Since Jan. 1, daily volume has increased by
Crypto-custody provider and securities firm, Propine, has graduated from the Monetary Authority of Singapore’s fintech regulatory sandbox program, emerging with a Capital Markets Services License, and the green-light to commence full operations. The Singapore-based securities services firm for institutional clients was admitted entry to the MAS regulatory sandbox on Nov. 8, 2019, and participated for
Guggenheim Investments’ global chief investment officer has some advice on what investors should do as the price of bitcoin plummets. His company, with $230 billion in assets under management, has been trying to buy bitcoin for months. Guggenheim’s Strategist Has Some Bitcoin Advice as Price Falls Scott Minerd, Guggenheim Investments’ global chief investment officer, has
Bitcoin and the crypto market overall have been exploding over the past month. As 2020 progressed, suddenly decentralized currencies like Bitcoin gained massive traction as institutional investors started recognizing crypto currencies as legitimate players in the investing space. Yes, the rocket upward has been great for those who already hold BTC and other coins, but
The Intercontinental Exchange, the owner the New York Stock Exchange and institutional cryptocurrency exchange Bakkt, announced a deal that would see its crypto arm listed on the stock markets. As reported by the Wall Street Journal, Bakkt is set to merge with VPC Impact Acquisition Holdings, trading under the ticker VIH. VPC is a so-called
The United Kingdom’s financial regulator, the Financial Conduct Authority, has posted a warning about cryptocurrency investment amid a major crash on crypto markets. In a Jan. 11 statement, the FCA said that crypto investment and lending are associated with a high level of risk, stressing that investors should be ready to lose all their money
The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of
Bitcoin faced an extreme correction earlier today. Over the span of 12 hours, the cryptocurrency plunged from the $41,000 region to lows on spot exchanges close to $34,000 and lows on futures exchanges close to $35,000. BTC lost over 15% over the span of this rally. The cryptocurrency has since bounced swiftly to the upside,
2021 got off to a quick start and the current crypto bull market has seen assets like Bitcoin (BTC) and Ether (ETH) shoot to new all-time highs on an almost daily basis. While new price highs are positive for investors, they do present a range of challenges relating to fees, transaction speeds and the centralization
On New Year’s Day, the U.S.-based crypto exchange Bittrex announced via Twitter that it was delisting three leading privacy coins: Monero (XMR), Zcash (ZEC) and Dash. A link promised further details, but those who followed it learned nothing to explain why trades in those tokens would end on Jan. 15. Still, the news couldn’t have
The price of bitcoin has dropped on Sunday losing more than 6% during the last 24 hours, but a myriad of other coins have seen significant gains in contrast. Cryptocurrencies like bitcoin cash, ethereum, and monero have all jumped in value while bitcoin has seen a decent drop. Bitcoin (BTC) dropped to a low of
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Bitcoin (BTC) price has once again dropped below the $40,000 level on Jan. 10 after crisscrossing it for the past three days as the spotlight shifted to altcoins. The BTC price drop comes after another failure to break through resistance at $41,500 in weekend trading. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview One reason for
On Thursday, Mark Zuckerberg took to Facebook to announce the end of Trump’s reign — on the platform anyway. Yesterday’s rally on Capitol Hill in Washington, D.C. turned into a storm of the Capitol itself by Trump supporters following a speech in which the president said “we will never concede.” In his post this morning,
After the ether token surged past the $1,000 mark on January 3, the average transaction fee on the network similarly soared to a new all-time high (ATH) of $17.41, some 24 hours later. Although the average fee has since retreated, data on January 8 shows that the latest average fee at $9.79. This figure still
According to multiple experts, one possible reason for Bitcoin’s remarkable recent price rise are massive investor outflows from another popular inflation hedge: gold. Spot gold swooned over the past week, falling 4.62% to $1,857. The asset previously had been surging in unison with Bitcoin, which is up over 40% from $28,000 lows last week. In
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