This week, a scandal involving Bitfinex and Tether parent company iFinex being accused by the New York Attorney General’s office of misappropriating funds has shaken up the cryptocurrency market. Bitcoin and other cryptocurrencies have rallied in recent months, however, the latest negative news surrounding the leading stablecoin on the market has been enough to cut…
Although many investors and analysts alike viewed Bitcoin’s muted reaction to the recent Tether/Bitfinex controversy as a sign of improving fundamental strength, it may be too early to celebrate just yet, as one analyst believes that BTC may dip back into the lower-$4,000 region before finding any significant levels of support that allow it to…
Bitcoin price rebounded above $5,100 after a massive drop towards $4,900 against the US Dollar. The price seems to be facing a strong resistance near the $5,200 and $5,220 levels. There is a major bearish trend line in place with resistance near $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).…
Bitcoin’s recent upwards momentum has led to a massive shift in the overall sentiment surrounding the crypto markets, as enthusiasm is tepidly increasing as more investors believe that the BTC’s 2018 lows are truly a long-term bottom. Despite this, one of Bitcoin’s fundamental indicators is currently flashing a bearish signal that has historically been followed…
If you’ve checked Crypto Twitter or *insert your favorite trade publication* over the past 72 hours, NewsBTC is sure that the Tether and Bitfinex news, along with the effect this debacle has had on the Bitcoin (BTC) price, has been on your radar. But if you are somehow unaware, here’s a brief recap: On Thursday,…
It’s no secret that many crypto investors are hanging their hopes on institutional and corporate investments as the next catalyst that will send the markets surging back towards, or past, their all-time-highs. Despite this, the 2018 market crash and ensuing bear market has tempered the speed at which these groups have entered the nascent markets,…
As traders have begun to realize that the news regarding the financial status of Tether Limited (USDT’s issuer) and Bitfinex isn’t all too harrowing, Bitcoin (BTC) has recently stabilized. In fact, analysts have claimed that the crypto market’s lack of reaction to the seemingly bearish news shows strong fundamental strength, and may, in fact, be…
There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar. The price even spiked below the $5,000 support level and it is currently consolidating above $5,100. There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data…
What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin, minted $300 million worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. As a result of this news, Bitcoin (BTC) dropped by 10% within minutes, plunging from $5,550 on…
The crypto community was once again shaken earlier this week when news broke regarding the New York Attorney General’s (NYAG) office pursuing further investigative action into the controversial stable coin Tether and related crypto exchange Bitfinex. Concerns surrounding Tether have plagued the crypto markets for well over a year, but Bitcoin’s relatively small drop that…