Just months ago, in March, many thought Bitcoin was on its way out. The cryptocurrency registered a 50% drop in a single 24-hour period in March, falling as global markets imploded.BTC miners followed suit, shutting down their machines en-masse because they weren’t profitable.But just three and a half months later, network data shows that Bitcoin…
The economic events seen throughout 2020 have helped Bitcoin secure its position as both a currency and a store of value.To thwart the effects of immense economic turbulence resulting from the ongoing pandemic, central banks across the globe have been printing money at an unprecedented pace.This has placed many fiat currencies in a precarious position,…
Singaporean crypto derivatives exchange Bybit has announced that it will soon launch a bi-annual trading competition with a 200 BTC ($1.8 million) prize pool. Dubbed the “World Series of Trading” or WSOT, the contest lays claim to being the world’s largest cryptocurrency trading competition. The inaugural event will take place in August.Bybit is building on…
Bitcoin dominance has been caught in a descending channel since May when it reached 69%. At present, BTC represents 64.9% of the total cryptocurrency market cap, a 10-week low.Bitcoin dominance year to date. (Source: tradingview.com)The end of last month saw the start of a sharp down leg, which has had the effect of sparking life…
Bitcoin’s consolidation channel formed since the start of May has been narrowing ever since it was first established.The cryptocurrency is now trading sideways between $9,000 and $9,300, facing immense resistance at the upper boundary of this range.From a fundamental perspective, the benchmark digital asset has been seeing stagnating market health, with this being driven primarily…
Tether (USDT) has seen massive inflows of capital throughout 2020, with much of this coming about not as a result of turbulence within the crypto market, but rather due to that seen in the traditional markets.Investors in countries where access to “safe haven” fiat currencies like the US Dollar is limited have widely begun purchasing…
GPay Limited, which traded as XtraderFX (formerly CryptoPoint) has been shut down by UK authorities following investigations into its practices.The firm has been on the radar of the Financial Conduct Authority for over two years. But a High Court hearing, before Deputy Insolvency & Companies Court Judge Baister, finally forced it to close last week.“This…
TRON CEO, Justin Sun took to Twitter to pitch the release of TRON 4.0, dubbed the era of the Great Voyage. It will take place at the Global Release Online Conference on July 7th, 2020.5 days countdown of Great Voyage: #TRON 4.0 Global Release Online Conference on July, 7, 2020 13:00(UTC)Platforms:🟡DLive:https://t.co/Y1eqltI8f5🔵Periscope:https://t.co/Dc7BFx4O4C🔴YouTube:https://t.co/wmSNWffxMu (Justin Sun)https://t.co/B9npITjFyw(TRON Foundation)#TRONZ pic.twitter.com/KbVm0ZxveH—…
The U.K.’s Financial Conduct Authority (FCA) says the number of British people buying Bitcoin doubled in a year. In a research paper, the authorities said 2.6 million people bought cryptocurrencies at some point.In large part, the FCA’s stance towards crypto assets remains neutral. The regulatory body said that it believes many bought Bitcoin as a…
Bitcoin has been closely tracking the traditional markets in recent months, which is part of the reason why it has been caught within such a persistent trading range since the start of May.The equities market has been stable as of late, with its ongoing consolidation coming close on the heels of a historic rebound than…