Another week, another round of Crypto Tidbits. Wow, what a past seven days for Bitcoin, cryptocurrencies, and global markets overall.
Bitcoin saw a blood-red week, to say the least, falling from $10,000 on Sunday to a low of ~$8,480 within a few days’ time as buyers failed to keep the asset above the key $9,500 support. Altcoins saw an even worst performance, with Ethereum, XRP, Litecoin, amongst countless other top cryptocurrencies plunging 15% as they followed BTC lower.
The crypto market carnage seen over the past week came as global markets, from stocks and commodities, started to crash across the board. The Dow Jones posted its worst point performance in history on Thursday, falling by over 1,000 points as American stocks came under a coronavirus crunch. Gold also fell under $1,600, plunging after reaching $1,700 as investors tried to leverage the asset as a safe haven.
The fact that effectively all assets fell this week was a sign to some investors that Bitcoin and crypto’s weakness may be only temporary.
Indeed, due to the potentially flagging U.S. economy caused by a decrease in consumption and industrial activity because of coronavirus fears, the Federal Reserve has hinted that it may cut interest rates in the near future, adding to Bitcoin’s bull case.
Aside from the tumultuous market, the underlying cryptocurrency industry saw an equally as tumultuous week, with there being a number of news stories showing the growth and adoption of these technologies, though others casting light on issues within this space.
Related Reading: Crypto Tidbits: Bitcoin Plunges to $9,500, $45m BCH SIM Swap, IRS Focused on Cryptocurrency
Bitcoin & Crypto Tidbits
Top Bitcoin Exchange Bitfinex Hit With DDoS Attack Just a Day After OKEx: On Friday morning, leading crypto platform Bitfinex began “investigating what seems like a distributed denial-of-service” attack (DDoS) attack on its exchange. Data from the site showed that the site response time and data throughput started to vary dramatically at 6:40 am GMT, eventually reaching a point where the site crashed around 8:00 am GMT, spurring the exchange to respond. About an hour after it began investigating the attack, services for the exchange came back online. This came a day after OKEx, one of the largest Bitcoin exchanges in Asia, reported a DDoS attack that didn’t affect any users. OKEx’s CEO accused a “competitor” of launching the attack.
Services on the Bitfinex platform have resumed. We implemented a stricter protection level as a result of our platform coming under a Distributed Denial-of-Service (DDoS) attack. All issues relating to the DDoS attack have now been resolved.
— Bitfinex (@bitfinex) February 28, 2020
Warren Buffett Bashes Bitcoin & Crypto Yet Again, Even After Tron CEO’s Dinner: In an interview with CNBC, Berkshire Hathaway CEO Warren Buffett said that he will never own cryptocurrency, adding that digital assets, Bitcoin included, has no inherent value: “Cryptocurrencies basically have no value and they don’t produce anything. In terms of value: zero.” This comment from Buffett regarding Bitcoin is reminiscent of his previous statements on the matter, such as when he called the cryptocurrency “rat poison squared” and saying that the asset has not much more value than a suit button. While Buffett’s words hold weight in public circles, not everyone in the crypto space is convinced that what he has to say about Bitcoin is relevant, despite him being a legendary investor. Industry investor Anthony Pompliano explained that “I really don’t take technology advice from somebody who uses a flip phone or doesn’t use email.”
Simpsons Talked About Crypto in Sunday’s Episode: On Sunday’s episode of The Simpsons — dubbed “Frinkcoin” because the episode’s A-plot centered around a cryptocurrency built by character Professor Frink — the show makers included a two-minute segment of a Simpsonified Jim Parsons, the actor behind The Big Bang Theory‘s Sheldon Cooper, discussing cryptocurrency. During Parsons’ explainer, a few key topics were mentioned: how blockchain underpins Bitcoin (and other crypto assets) and how the ledger works, including the distribution of nodes/ledgers and how blocks are added to the chain). This writer noticed some, say, shortcomings in the script, but he can give it a pass.
G20 Advises Crypto Crackdown: According to an official G20 communique published this week, the finance ministers and central bankers of the group want member countries to implement the “recently adopted FATF standards on virtual assets and related providers.” The guideline suggests that all entities dealing with cryptocurrency should be actively collecting the customer information of those involved in transactions. The FATF advises the collection of data including the name of the transactor, their location, and the name of the beneficiary of the transaction.
Ripple Secures Partnership: Announced in a blog post published Wednesday, Ripple’s partnership with Azimo will see the latter company use On-Demand Liquidity (ODL) as a “part of its remittance capabilities into The Philippines,” with plans to expand the use of the solution in the future.
Featured Image from Shutterstock origin »
Bitcoin’s post-halving surge, fueled by supply-demand imbalances, continues to drive its price higher.
Anthony Scaramucci supported Bitcoin's long-term potential, while Peter Schiff remained The post Crypto market hits record high as Bitcoin gains 41% in 30 days - Trump effect? appeared first on AMBCrypto.
The Bitcoin price has slowed down over the last few days, crashing to around $65,500 on the morning of Saturday, October 26. The premier cryptocurrency has not particularly impressed in the historically bullish month of October, but the next few days could be pivotal to the coin’s future trajectory.
The Bitcoin outflows from centralized exchanges and the rising whale accumulation helped it surpass the $67,000 mark again. According to data provided by IntoTheBlock, the Bitcoin (BTC) exchange net flows witnessed two days of inflows on Oct. 20 and 21,…
Low- and mid-cap altcoins gain traction as the cryptocurrency market prepares for a historic rebound to record peaks. Bitcoin flourished over the past seven days, climbing from a weekly low of below $62K to trade at $67,200 during this publication.
Onchain Highlights DEFINITION: Number of days in Bitcoin’s traded history where holding Bitcoin has been profitable relative to today’s price. Bitcoin’s market history reveals a high percentage of profitable holding days, indicating strong long-term value retention.
Crypto enthusiasts eagerly anticipate Bitcoin’s (BTC) resurgence, with predictions pointing to a major bullish run set to begin in just 35 days. RCO Finance (RCOF) generates significant buzz alongside this anticipated Bitcoin surge.
The floodgates have opened for Bitcoin in the US, with spot Bitcoin exchange-traded funds (ETFs) experiencing a record-breaking eight days of consecutive net inflows. This surge in investor appetite, totaling more than $150 million on a single day, signifies a new era for cryptocurrency accessibility and traditional market acceptance.
Bitcoin ETFs (Exchange-Traded Funds) are facing a significant outflow for three consecutive trading days. According to data from SpotOnChain, the Bitcoin Spot ETF Net Inflow on April 26, 2024, was recorded at -$84 million.
Bitcoin has added over 5% in the last three days.
BTC supply in profit was now over 97%.
Bitcoin [BTC] exhibited a glimpse of recovery over the past two days. Still, it has embarked on a morThe post Is Bitcoin's run to $73K sustainable? $40M in liquidations suggests... appeared first on AMBCrypto.
Bitcoin has been struggling recently to reclaim its fresh all-time high of $73,737 after days of sustained selling pressure — can bulls finally turn the tide?
Bitcoin (BTC), the leading cryptocurrency, has defied expectations of a steep decline to sub-$20,000 levels and has rebounded to the $26,000 mark, registering a 3. 5% gain over the past 24 hours. This resurgence in Bitcoin’s price coincides with the predictions made by Chartered Financial Analyst Timothy Peterson, whose recent social media post outlined the probabilities of Bitcoin dropping to $22,600 or rallying to $31,200 within the next 90 days.
Since August 2010, there have been only 677 days in which you could have bought Bitcoin and currently be at a loss, with 86% of days where ‘holding Bitcoin has been profitable relative to today’s price,’ as per Coinglass data.
Bitcoin's potential high ROI has made it an attractive investment despite its volatility. However, it's a risk-on asset, often losing 75-85% value in bear markets.
The post Bitcoin (BTC) is Symmetric: 10 Best and Worst Days of Each Year appeared first on BeInCrypto.
The Bitcoin Cash (BCH) price has gone through the roof in recent days. Within the last ten days, the Bitcoin fork has risen by a staggering 168%, temporarily BCH was already up over 200% today. While Bitcoin Cash was still trading at $104 on June 20 and was stuck in a deep bull market that looked bad even compared to other altcoins, a miracle occurred 10 days ago.
At press time, BCH price had risen by 52% in the last seven days and 28% in the last 24 hours. BSV, on the other hand, had gained 77% in the last seven days and 30% in the last 24 hours Bitcoin (BTC) has only gained 15% over the last seven days.
Coinbase's former Chief technical officer Balaji Srinivasan has wagered $2 million that Bitcoin would be worth $1 million in 90 days.
The post Coinbase Former CTO Bets $2M on Bitcoin to Reach $1M in 90 Days appeared first on BeInCrypto.
Its Thursday retreat notwithstanding, bitcoin has surged about 13% over the past seven days. The spike reflects investor optimism, although macroeconomic concerns remain.
On-chain data shows large Bitcoin whales have finally started accumulating in the last 10 days as BTC has rallied strong. Large Bitcoin Whales Have Added 37,100 BTC To Their Holdings In Recent Days As per data from the on-chain analytics firm Santiment, multiple Bitcoin holder groups have displayed some strong accumulation recently. The relevant indicator […]
In recent days, Bitcoin has shown a good degree of bullishness. CoinGecko reports that Bitcoin’s price has increased on a daily and biweekly basis, suggesting that the market may be recovering from FTX’s fall.
Stuck right below its 2017 all-time high, Bitcoin is moving sideways with low volatility over the past few days. The crypto market is preparing to close another monthly candle in the coming days. This event is set to move BTC and other cryptocurrencies, but in what direction? Related Reading: TRON Showing Hints Of A Major Rebound After A Week Of Rout At the time of writing, Bitcoin (BTC) trades at $19,000 with 0.
Quarterly returns on Bitcoin haven’t been this bad since it was trading under $20 in the early days of Mt. Gox, but the stock market isn’t faring so hot either.
Bitcoin gave up some of its gains on Thursday morning, but not before running for three days in a row. Bitcoin has been on a tear over the past few days, with prices increasing by more than 17% in just three days.
Bitcoin, along with the rest of the market, had recovered slightly at press time. However, the suggestion comes from the fact that at the moment, market and investors are flashing certain signals thatThe post The case for Bitcoin possibly recovering by 8% in the next three days appeared first on AMBCrypto.
Bitcoin has been on a downtrend for the past days recording a 1. 8% loss in 24 hours and a 10. 5% correction in seven days. The benchmark crypto seems to be reacting to macro-economic factors and could see further downside in the short term.
Bitcoin is consolidating at a range above $55,000 since recovering from the 26 November slump. Over the past few days, there hasn't been any form of structural break indicative of a bearish bias.
Bitcoin’s price surged above $66,000 after declining for a few days, only to be knocked down by the bears again. Just a few days ago, bitcoin made the new all-time high of $69,000 due to the high U.
Somehow after a solid performance throughout the month, Bitcoin has slowed down for the last 8 days. The rally which brought the ATH turned into consolidation with some significant drop in price.
China's clampdown on cryptocurrency mining in the key province of Sichuan piled on further selling pressure on the global cryptocurrency market. Market leader Bitcoin suffered yet another pullback as The post This would be decisive for Bitcoin's movement over the coming days appeared first on AMBCrypto.
Bitcoin is seeing relatively lackluster price action today, with it consolidating within the mid-$30,000 region as altcoins all explode higher Where the entire market trends in the mid-term should depend largely on whether or not Bitcoin bulls can establish $37,000 as support The crypto has tested this level on a few occasions overnight, and it has been holding strong One analyst is now noting that BTC is likely to range for the coming few days […]
In the past two days, crypt whales have moved an eye-popping $967 million worth of Bitcoin at tiny transaction fees, while Bitcoin hit $28,000 and went back below $27,000
It would seem that Bitcoin is intent on spreading the Christmas cheer for as many days as possible.
Bitcoin, the world's largest cryptocurrency, is on a roll. Days after it breached the much-anticiThe post Bitcoin hits $27,000 as another price level bites the dust appeared first on AMBCrypto.
One moment Bitcoin looks set to breach its all-time high and the next, it's down by $3,000. Welcome to crypto!
In a bull market with bearish overtones, a lot can be lost in the noise. For instance,The post This is what investing in Bitcoin on red days gives you appeared first on AMBCrypto.
Bitcoin has been rallying higher once again after days of consolidation. The cryptocurrency currently trades for $16,100, though traded as high as $16,500 hours ago. A leading analyst says that Bitcoin is trading in the midst of a textbook Elliot Wave pattern that will likely end with BTC peaking at $18,200 in the coming days, then correct toward $15,000.
This week, Bitcoin nearly touched $16,000, leaving very few days remaining where buying BTC would have been unprofitable. In fact, the number has now dwindled down to just around a month left, and in no time at all, there could be no days left where buying the cryptocurrency was a bad decision. Bitcoin Has Been […]
For most of the year, the world's largest and most dominant cryptocurrency, Bitcoin, has noted a strong correlation with the world of traditional finance. In fact, over the course of 2020, the S&PThe post Why is this decoupling a great sign for Bitcoin in the coming days? appeared first on AMBCrypto.
Bitcoin has moved decisively higher over recent days. After reaching lows of $10,400 approximately seven days ago, the coin now trades for $11,350. The coin reached local highs of $11,500, around 10% higher than the aforementioned lows.
Bitcoin’s price has been facing immense sell-side pressure throughout the past couple of days This has mainly resulted from the revelation of multiple bear-favoring news events These events – including the BitMEX imbroglio and President Trump’s health – have led many analysts to expect it to see significantly further downside in the days and weeks ahead They have also caused Bitcoin to break its former correlation with gold and begin, once again, moving in sync […]
Bitcoin’s price has dropped by 11% from $11,736 to $10,390 - all in a matter of just 10 days. In fact, some argue that the price may plummet even further with rising liquidity on the horizon. HoweveThe post Bitcoin inflows to exchanges up by 117% in 10 days - What's next? appeared first on AMBCrypto.
Bitcoin has undergone a strong correction over the past few days. The cryptocurrency, after peaking near $12,100 last week, reached a low of $9,800 over the past few days. Bitcoin has since undergone a bounce, with the coin now trading at $10,400 as of this article’s writing.
Ethereum has consistently maintained higher total fees paid on the network than on the Bitcoin network for 30 days in a row, data from Glassnode shows. The fee volume has been above that of Bitcoin roughly since the 6th of June and experienced a sharp increase within the month to nearly $4 million before declining […]
Coinspeaker Bitcoin Price Rises Above $9,700 as Only 4 Days Left Until 2020 Bitcoin HalvingBitcoin price surges over 5% to trade above $9,700 at the time of reporting. The rally comes as the clocks show 4 days remaining until the BTC halving event.
Bitcoin’s (BTC) recent 30% correction has shaken market sentiment, but VanEck’s latest outlook report suggests that the pullback is part of a broader reset rather than a sign of structural weakness.
The outlook for Bitcoin (BTC) is showing signs of improvement as stablecoin liquidity increases and key market indicators signal a potential reversal of the recent deep correction. CryptoQuant highlighted a significant expansion in the market capitalization of Tether USD (USDT), which usually leads to rising Bitcoin prices.
Bitcoin (BTC) could see a turnaround this weekend after six consecutive weekends of negative returns, according to Standard Chartered head of digital assets research Geoffrey Kendrick. In a research note shared with CryptoSlate on Feb.
Bitwise CIO Matt Hougan sees a significant opportunity in the disconnect between retail and institutional sentiments toward crypto. In a recent letter to investors, Hougan painted a bullish picture for the crypto sector, emphasizing that while retail investors remain skeptical, institutional capital continues to flow into the market at record pace.
Arthur Hayes, former CEO of BitMEX, predicted in a Jan. 27 blog post that Bitcoin (BTC) is likely to correct to the zone between $70,000 and $75,000 before reaching $250,000 by the end of 2025. Hayes argued that Bitcoin’s historical volatility makes a 30% correction plausible within this bull market.
Digital asset prices are expected to face continued short-term volatility due to a lack of policy clarity from the new US administration, but medium-term opportunities could deliver significant gains, according to a report by Standard Chartered.
Bitcoin (BTC) registered a significant recovery in the past week, jumping from the $90,000 price area to a new all-time high at $109,357. 07 on Jan. 20. However, a new Bitfinex Alpha report warns that BTC’s upward momentum faces potential headwinds, as “sell-the-news” trading behavior looms large.
