Bitcoin and the rest of the crypto market – even traditional equities markets and precious metals – have been suffering through one of the worst selloffs the world has ever seen in the face of a global pandemic.
However, while the stock market has barely gained back any of the recent losses from last week’s collapse, the first-ever cryptocurrency has nearly doubled in value, gaining 85% from the recent low and showing that the asset is fundamentally alive and well.
BTC is Dead, Long Live Bitcoin
Bitcoin has been pronounced dead hundreds of times throughout its just over ten years in existence. It’s been compared to rat poison, and many times have pundits called for its collapse to zero.
Last week, cryptocurrency investors, however, were fearing that might actually come true.
Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin
A liquidity crisis hit all markets last week as panicked investors sold off everything under the sun, fearing a coming recession and a world left forever changed due to the spread of the coronavirus.
The massive selloff caused a cascade of liquidations on trading platform BitMEX, which kept driving the price of Bitcoin down further and further.
Eventually, the exchange was taken offline and Bitcoin’s price began to recover at roughly $3,800 at the low.
Now, just one week later, Bitcoin reached as high as $7,100 this morning, marking an 85% gain since the bottom was set just days earlier.
Not only does this show that Bitcoin is alive and well fundamentally, but it could make the leading cryptocurrency by market cap especially attractive to investors seeking to put their capital somewhere where there is growth amidst falling valuations everywhere.
$BTC is up 80% in one week from $3700.
Another +80% puts us at $12500.
Yes it might've crashed with the rest of the market, but one thing is for sure, when it pumps it leaves everything behind.
When in doubt, remember that fundamentals never changed. pic.twitter.com/FE4qEPZoX3
— Galaxy (@galaxyBTC) March 20, 2020
Cryptocurrency Fundamentals Will Help It Survive The Coming Economic Collapse
Bitcoin and other cryptocurrencies were designed with unique attributes that make them unlike fiat currencies, and oftentimes more like precious metals, due to the scarce and limited supplies.
This attribute could help Bitcoin and other cryptocurrencies during the potential inflation in the days ahead.
Bitcoin was also designed to be decentralized, and if banks shut down in the near future over the virus, only cryptocurrencies will be instantly accessible for holders.
Even the World Health Organization is promoting contactless payments and a reduction in the reliance on cash.
Related Reading | The Coronavirus May Be The Best Reason Yet To Own Bitcoin
Bitcoin, fundamentally, has everything going for it, and the recent rally reflects investors realizing the asset’s potential and speculating that the asset will soon shine in the face of all this financial adversity.
And speculation, yet another factor giving Bitcoin value will only increase as its use cases show even more potential in overcoming the current unique challenges the world is facing.
Featured image from Shutterstock origin »
The crypto market is on fire. Bitcoin just smashed through $80,000, Ethereum’s latest upgrade is turning heads, and meme coins are pumping left and right. But let’s be real—those train rides are already crowded.
Mark Carney, Canada’s new Prime Minister, has been a vocal opponent of Bitcoin for years. His stance could lead to tougher regulations and increased support for a digital Canadian dollar. Crypto investors, take note!
The post What Mark Carney’s Rise to Prime Minister Means for Bitcoin and Canada’s Crypto Future appeared first on BeInCrypto.
Howard Lutnick said Bitcoin would receive special status under US President Donald Trump’s proposed crypto reserve Lutnick believes that other crypto tokens will be “treated differently—positively, but differently” So far, 12 people within crypto have been invited to attend the Crypto Summit US President Donald Trump is expected to unveil a Bitcoin reserve strategy at […]
The post Report: Trump expected to announce Bitcoin reserve strategy at White House Crypto Summit appeared first on CoinJournal.
Key Takeaways: Bitcoin and Ethereum ETF holdings of Goldman Sachs increased drastically. This is an indication that the traditional financial institutions see crypto as essential. Even though traditional finance initially
The post Goldman Sachs “U-Turn”: Massive Increase in Bitcoin and Ethereum ETF Investments – A Crypto Market Signal? appeared first on CryptoNinjas.
An analytics firm suggested that Bitcoin might be heading to another bull market as the hype around meme coins starts to fade and the crypto community regains its interest in the flagship crypto and other top Layer-1 protocols.
Bitcoin's volatility highlights the broader economic uncertainty and potential challenges for digital assets amid shifting U.S. policies.
The post Bitcoin rally faces headwinds from Trump’s diverging crypto trades, say experts appeared first on Crypto Briefing.
Bitcoins rise is building a stage for the next crypto bull run – affording great opportunities. While Bitcoin gets all the press, both the real winners and the emerging altcoins are bitcoins own inventions with a powerful motivation and an innovative approach.
This week’s Crypto Biz explores Bitcoin’s landmark year, Crypto.com’s new custody service, Russia’s partial ban on crypto mining and taxes on staking rewards in the US.
The United States election was one of the most defining events in the crypto space in 2024. Specifically, the reelection of Donald Trump revived Bitcoin and the entire crypto market after an uninspiring second and third quarter.
The Bitcoin price recently closed above the median in a bull channel, providing a bullish outlook for the flagship crypto. In line with this, crypto analyst Tony Severino provided insights into what could come next for Bitcoin.
The cryptocurrency world is awash in new wealth as Bitcoin’s record-breaking climb above $90,000 propels the total value of digital assets past a staggering $3.2 trillion. Forbes estimates that 11 of the top crypto billionaires, whose holdings are predominantly liquid tokens and stocks, have collectively added $38 billion to their fortunes in 2024. Remarkably, $24 […]
Bitcoin is proving its mettle, and showing no signs of stopping. The crypto skyrocketed to a fresh record high on Monday, as investors bet that Donald Trump’s return to the Oval Office will be good for the crypto industry.
Bitcoin's resilience may keep crypto unaffected by the 2024 US election. Economic trends, and not political shifts, drive crypto growth and long-term value.
Crypto analyst EGRAG CRYPTO has shared insights into Bitcoin’s price trajectory, suggesting a potential rally. In his tweet on October 29th, EGRAG CRYPTO emphasized that Bitcoin has broken out of a descending broadening wedge pattern, a structure often signaling a bullish reversal.
Between 2023 and 2024, the number of Bitcoin millionaires climbed by almost 111%, reaching 85,400 or 49. 6% of all crypto millionaires in 2024. Regarding cryptocurrency billionaires, five of the six newcomers this year also trace their success to Bitcoin, Henley & Partners disclosed in its 2024 Crypto Wealth Report.
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
BlackRock's endorsement of Bitcoin may accelerate institutional adoption, potentially reshaping global financial markets and asset diversification.
The post Bitcoin inches toward $68,000 following BlackRock’s CEO crypto endorsement appeared first on Crypto Briefing.
Bitcoin, which started the month on a negative note, has begun to regain some positive momentum and is up by 1. 66% in the past 24 hours. This recovery comes amid renewed optimism in the crypto space, as traders and investors remain hopeful for a solid finish to the year.
Prominent crypto analyst Ali Martinez has cautioned Bitcoin investors to brace for a further decline following the premier crypto’s recent single-digit correction.
As Bitcoin continues to take center stage in the crypto space, the leading crypto recently breached the $65k level, a scenario seen earlier in August this year.
Crypto liquidations rose to over $200 million in 24 hours as Bitcoin (ETH) and Ethereum (ETH) dipped. Analysts are however bullish on BTC price as September looks poised to end on a green note. The crypto market saw over $200 million in crypto liquidations as Bitcoin slipped to near $64k amid fresh bear moves.
This is turning out to be a great week for crypto. Bitcoin price just broke past the $60K level for the first time this month. In fact, remember how everybody was saying September is historically bad for crypto? We’re almost halfway through the month, and this is, for now, a “green” month since the BTC […]
The post Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today? appeared first on CaptainAltcoin.
Bitcoin and most altcoins remained in a tight range as the crypto fear and greed index moved to the fear zone of 33 ahead of the Federal Reserve and Bank of Japan decisions. Bitcoin (BTC) has been stuck below $60,000…
During an interview, Matthew Sigel, Head of Digital Assets Research at VanEck, discussed the transformative power of artificial intelligence (AI) for Bitcoin (BTC) miners. He also highlighted how crypto platforms, especially ETFSwap (ETFS), stand to gain from this advancement.
Cryptocurrency prices remained in a tight range on Monday, with Bitcoin continuing its consolidation around the key support at $60,000 and the market cap of all coins hovering at $2. 06 trillion. The crypto fear and greed index was stuck at $46 while volume in exchanges has retreated.
Although Bitcoin’s price is yet to reclaim its March all-time high, a prominent crypto analyst believes the alpha crypto is on the verge of turning insanely bullish.
Whoever has been in crypto for more than 5 years, like I have, knows that September is historically not a good month for Bitcoin and the crypto market in general. Let me break down some historical data so you understand what I mean by this.
The week is still not over yet, however crypto traders can already be more than happy with what we saw from the market in the last few days. Of course, no gains would be possible without Bitcoin.
In a recent report, crypto research firm Kaiko drew the crypto community’s attention to the Bitcoin liquidity crisis. The firm added that this issue has been amplified since the launch of the US Spot Bitcoin ETFs.
The correlation matrix highlighted a reason why Bitcoin is the king of crypto.
The sentiment over the weekend has been bearish, and was partially why crypto is down.
The crypto market saw soThe post Why is crypto down today? Bitcoin’s 6% loss, unpacked appeared first on AMBCrypto.
Bitcoin hits multi-month low as stock markets crash. What happened to crypto market crypto on black Monday? From Aug. 4 to 5, the crypto market experienced a significant drawdown. Bitcoin (BTC) fell below $50,000, and Ethereum (ETH) — $2,200. Following…
As per some analysts, politifi tokens could compete with DOGE, SHIB.
Crypto market volatility has increased in the wake of the U.S. election.
The crypto market is going through one of its moThe post Bitcoin to hit $190K if Trump wins? AMBCrypto's July 2024 Report reveals potential appeared first on AMBCrypto.
Ash Crypto sheds light on various factors that are affecting the crypto market. The price of Bitcoin and various cryptos has been going down based on various interconnected events. Bitcoin, Ethereum, and Solana have dipped by more than 7%, 11%, and 10% respectively in the past 4 days.
Hashdex filed for the first index-based US crypto ETF holding Bitcoin and Ethereum.
ETH ETFs saw $176.2 million inflows; Grayscale experienced $326.9 million outflows.
Crypto asset managemenThe post Bitcoin, Ethereum, and beyond: All about Hashdex's new crypto ETF appeared first on AMBCrypto.
Bitcoin and the wider crypto market are rallying despite a downtrend in the equities markets, particularly in tech stocks, pointing to a breakdown in correlation between the two. The flagship crypto surged over 4% over the past few hours to $66,377 as of press time, based on CryptoSlate data.
In a YouTube analysis, crypto expert Crypto Rover shed light on Bitcoin’s market action. Rover’s examination focuses on a notable symmetrical triangle pattern emerging in Bitcoin’s price chart.
Jackis, a top crypto analyst, recently intriguing insights into the current state of Bitcoin and Ethereum. His observation, shared via a detailed post on the X platform, shed light on the distinct market behaviours of these leading crypto assets.
Biden's crypto policies, like vetoing the SAB 121 repeal, have sparked controversy in the crypto community.
Scaramucci backed Biden, citing Bitcoin's growth and cautioning against Trump's electThe post Anthony Scaramucci's crypto stance: 'Remember he was negative on Bitcoin...' appeared first on AMBCrypto.
Altcoins have started to gain momentum as Bitcoin faces selling pressure indicating a shift in the crypto space. According to analysts and crypto experts, several altcoins have already appreciated by 10% against Bitcoin.
How did one of the earliest and most devastating Bitcoin heists unfold, resulting in the loss of $1.6 billion and shaking the crypto community? Read on. In the early days of Bitcoin (BTC), the crypto world was like the Wild…
Exploring the resurgence of market speculation in Bitcoin as Long-Term Holders show profits and the Mt.Gox distribution event looms.
The post Bitcoin metrics indicate return of speculative activity in crypto appeared first on Crypto Briefing.
As Bitcoin continues to consolidate, cryptocurrency experts at Our Crypto Talk in a bold forecast that has garnered the attention of the crypto community have pointed out that BTC is on the verge of making its next significant upward movement.
Arguably the most important takeaway from yesterday’s FOMC meeting was that the U. S. Federal Reserve (Fed) is no longer forecasting a recession, which led to a cautious rally in Bitcoin and crypto markets today.
Bitcoin’s price is following in XRP’s footsteps by rallying close to $32,000, but the price could pull back in the face of this week’s $720 million options expiry.
According to Bloomberg's senior commodity analyst, BTC is currently untouchable and could go all the way. However he asserts that a recession will likely affect the commodity as well.