As altcoins have strongly outperformed Bitcoin over recent weeks, a debate has erupted about the long-term usefulness and efficacy of many cryptocurrency projects. Many prominent Bitcoin proponents have come out against altcoins, saying that they provide effectively no value compared to Bitcoin. For instance, there are commentators that say Ethereum’s current leading use case, DeFi,…
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As the saying goes, there’s no such thing as bad publicity. That old phrase is once again proving true, as search queries for Bitcoin spike following news of a Twitter scam going viral. Could the cryptocurrency being at the center of a highly publicized scam actually end up being positive for the asset? Google Searches…
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What started as one crypto Twitter account being compromised ultimately became a widespread hack that resulted in some of the most prominent accounts on the platform shilling a Bitcoin scam. This exposed a major security flaw in the popular social media platform, as the hackers had free reign to access and post using any account…
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After holding $9,200 for days on end, Bitcoin has recently begun to break down. The cryptocurrency trades at $9,100 as of this article’s writing, having lost that short-term support. Bitcoin’s ongoing weakness is seemingly related to bearish price action in global stock markets, including the S&P 500 index. Following a -4.5% performance during the Shanghai Composite’s…
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Cardano’s intense uptrend has started showing signs of faltering as the aggregated cryptocurrency market flashes some warning signals. Although the token is still trading just a hair below its 2020 highs, it has now faced two harsh rejection at $0.135 – elucidating that this is a massive resistance level. Overnight, sellers pushed ADA to lows…
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Bitcoin has been consolidating below resistance for months now, waiting for a spark to ignite an explosion in either direction. Due to the ongoing correlation between BTC and stocks, a crashing global stock market could drag down crypto with it once again. Continued Correlation Between BTC and S&P500 Has Kept Crypto Down Since the start…
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Bitcoin has been forming a striking correlation to the S&P 500 and the rest of the stock market throughout the past few months. This correlation has only grown in recent weeks, and today’s slide in the equities market has led the benchmark cryptocurrency down to a crucial support level Analysts are now pointing to this…
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Yesterday, high-profile Twitter celebrities and other influential accounts were hacked to promote a Bitcoin scam. The scam isn’t uncommon and is just one of many that involve cryptocurrency in some way. To help investors avoid scams like these, we’re highlighting the most common crypto-related scams and how to avoid them. Bitcoin At Center of High-Profile…
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Roughly $6 billion were wiped out of the cryptocurrency market in the past 24 hours. The massive cash outflow was felt throughout the entire market as most digital assets went into the red. The sudden bloodbath also saw the liquidation of $13 million worth of long Bitcoin positions on BitMEX alone. The Cryptocurrency Market Turns…
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The options market is becoming a more integral part of Bitcoin’s market, seeing tremendous growth throughout 2020. Less than a month ago, the benchmark cryptocurrency saw its largest ever options expiry, with nearly $1 billion in contracts expiring. In the time since, however, options open interest has rebounded significantly and is now sitting around $1.1…
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