Despite a massive drawdown in May, the Bitcoin (BTC) bull market appears to be intact, with a $100,000 price target more likely than a retrace to $20,000, according to Mike McGlone, Bloomberg’s senior commodity strategist. $20K or $100K in 2021? The June 2021 edition of the Bloomberg Galaxy Crypto Index report described Bitcoin as ‘stronger,
Ethereum’s visionary co-founder Vitalik Buterin has commented on the obstacles on the roadmap to Eth2 at a conference in Hong Kong. Speaking partly in Mandarin at the Virtual Fintech Forum at this week’s StartmeupHK Festival 2021, Buterin said that technology wasn’t the major issue with the world’s largest smart contract network. He admitted that building
Following China’s major regulatory crackdown on cryptocurrencies, financial regulators in Hainan, the smallest province in the country, reportedly issued a warning against crypto or blockchain-themed illegal fundraising schemes. According to local reports, the Hainan branch of the People’s Bank of China, the central bank of the country, and the local financial supervision authority were among
DeFi tokens and protocols took a heavy hit on May 19 as Bitcoin price dropped to $30,000 and while BTC has entered what some analysts describe as a ‘compression’ phase, the total value locked in DeFi and the value many of the sector’s tokens have yet to rebound to the levels seen before the market
Binance Smart Chain (BSC) decentralized applications (dapps) have been hit with a number of flash loan attacks in recent weeks. According to collected data by Rekt, during the last 30 days BSC has lost a total of $167 million from these flash loan exploits. Flash Loan Hackers Prey on Binance Smart Chain Dapps – $167
A trade is profitable only if both the purchase and the sale are done at the right time. Many times, traders sell their positions too early and leave profits on the table or they keep holding on to the trade even after the trend changes. This leads to profits evaporating, and many times the trade
Ether (ETH) has outperformed Bitcoin (BTC) by 32% since May and even though there has been a steady flow of bullish reports from JPMorgan and Goldman Sachs, derivatives metrics show elements of bearishness in both assets. Bitcoin is trading 41% below its $64,900 all-time high and that move has driven the “Crypto Fear and Greed
Ethereum has seen some recovery in the past days, after the crypto market experienced one of its worst months since March 2020. At the time of writing, the second cryptocurrency by market cap trades at $2,823. A recent report published by Bloomberg Intelligence’s Senior Commodity Strategist, Mike McGlone, claims that ETH is on a “higher-beta
From Thursday through Saturday, a throng of crypto faithful will gather at the Mana Wynwood Convention Center in Miami for the Bitcoin 2021 conference. Bitcoin 2021 perhaps holds even greater significance than usual, as participants can gather in a physical location after COVID-19 restrictions forced many other crypto conferences to go virtual. This year’s conference
Bitcoin (BTC) is slowly but surely preparing to flash “buy,” a key indicator suggests as a trading frenzy reignites memories of the GameStop debacle. In its latest report on June 3, Stack Funds highlighted the Puell Multiple nearing the green “buy” zone — a signal to enter the market. Puell multiple drops to pre-2021 levels
Francis Suarez, the crypto-friendly mayor of the city of Miami, may have further cemented his status as a cryptocurrency proponent. Appearing on the CNBC Squawk Box program, Suarez revealed that he owns both Bitcoin (BTC) and Ether (ETH). “I own #bitcoin and I own #ethereum,” says @FrancisSuarez. “I haven’t bought the dip yet but I’m
Tinkoff, a major private bank in Russia, is struggling to offer cryptocurrency trading to its clients due to the central bank’s tough stance on digital assets. Tinkoff CEO Oliver Hughes said that the digital bank is willing to offer crypto trading services but is restrained by the Bank of Russia’s policies, CNBC reports. The executive
The European Union (EU) will launch a digital wallet allowing citizens of any country in the bloc to make payments and access services provided by each state, also allowing for the storage of digital ID information. The wallet, which will reportedly be launched next year, could be tied in with the digital euro project, a
The decentralized properties that make blockchain architecture unique can also be its Achilles heel, demonstrating the importance of bringing network governance on-chain to promote a more inclusive and democratized consensus on network upgrades. Governance Transformation Is the Key To Unlocking Decentralization’s Innovative Potential There are many bitter arguments over blockchains, whether involving how they should
On June 4, a total of 15,530 Bitcoin (BTC) options are set to expire, which represents $575 million in open interest. At the moment, bulls are still heavily impacted by May’s 37% BTC price correction, and this has led most call (buy) options to be underwater. Despite the crash, Bitcoin’s active supply reached a five-month
Bitcoin’s anonymous creator Satoshi Nakamoto is set to be depicted in a life-size bronze statue in Budapest, the capital city of Hungary. According to local news outlet Hungary Today, sculptors, Réka Gergely and Tamás Gilly are designing the statue, and have unveiled initial plans depicting a figure with a featureless face wearing a Bitcoin hoodie.