Bitcoin has entered yet another consolidation phase, this time hovering around $9,200 as it reestablishes its position within its previously held range between $9,000 and $9,300. The cryptocurrency’s recent price action has done little to offer any significant insight into its macro outlook, as it still remains caught within its long-held range between $9,000 and…
Details
One of the hottest crypto trends over recent months has been Ethereum DeFi. Also known as decentralized finance, DeFi is the industry of building decentralized applications for financial services. As can be seen below, coins related to this sector have gone parabolic, outpacing Ethereum. Take the example of Aave’s LEND token, which is up by…
Details
In the span of just over a decade, Bitcoin has gone from a puny asset to one worth over $170 billion. It’s a rally that has caught many off guard, evidenced by those that have long asserted the cryptocurrency is a Ponzi scheme or otherwise. Data shows, however, that BTC remains just a drop in…
Details
Bitcoin was once branded as an asset that was uncorrelated from the rest of the financial markets. Look no further than a survey of institutional investors by Fidelity Investments. It found that a good portion of this group want to buy cryptocurrencies because they are a valuable portfolio diversifier that is uncorrelated. Yet this has…
Details
After attempting to rally through $9,500 this week, Bitcoin failed to sustain its bullish momentum yet again. As of this article’s writing, the leading cryptocurrency trades for $9,200, having sustained somewhat of a pullback. The retracement notably wasn’t caused by Bitcoin: a drop in the S&P 500 on Wednesday forced the crypto market leader. Technical…
DetailsBitcoin and gold have formed a striking correlation throughout 2020, although this has shown some signs of degrading over the past few weeks as BTC continues extending its multi-month bout of sideways trading. Gold is also starting to move lockstep with the stock market, showing that traders are increasingly treating the precious metal as a…
Details
There have been many analysts over recent weeks arguing that Bitcoin is clearly at a market top. As NewsBTC covered two weeks ago, one trader commented that the cryptocurrency is trading in line with a textbook “distribution” pattern. “A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge…
Details
This week, the altcoin named after an internet meme, Dogecoin, went viral on social platform TikTok. Users of the platform tried to get a hashtag challenge trending in order to pump the coin. However, these new investors unsure if Doge is a stock or an altcoin have now learned the hard way what a crypto…
DetailsA new study released reveals that crypto investors are underprepared for their own untimely demise. Without a plan in place, crypto assets could be lost forever, leaving loved ones without access and out of an inheritance. With so many crypto investors so woefully unprepared for their own passing, what steps can be taken to get…
Details
Another week, another round of Crypto Tidbits. After over a week of ranging, Bitcoin attempted to break higher this week. The flagship cryptocurrency moved from the weekend lows of $8,900 to a weekly high of $9,470 on major exchanges. The move has since been reversed, with BTC trading at $9,200 as of this article’s writing. This…
Details
