Bitcoin (BTC) sees a cautious start to the week as macro markets dither and Turkey’s currency loses 15% of its value overnight. After a disappointing weekend that featured a rejection at $60,000, Bitcoin has yet to impress traders, who are expecting sideways action in the coming days. Cointelegraph takes a look at five factors that
Google searches for Bitcoin (BTC) emanating from Turkey exploded in the past 24 hours, after the value of the Turkish lira dropped 14% following the firing of a central bank governor. According to data from Google Trends, the number of searches for Bitcoin spiked 566% in the hours immediately following news of the lira’s demise.
While Bitcoin (BTC) is too volatile to be money and “backed by nothing,” it could be a “substitute for gold,” says the Chair of the United States Federal Reserve. Speaking at an event hosted by the Bank for International Settlements (BIS) on March 22, Jerome Powell delivered frank comments in response to a question on
The auction for the Non-Fungible Token (NFT) that gives proof of authority over Jack Dorsey’s “Tweet Genesis” has concluded. Held on Valuables, a platform that allows its users to convert their Tweets into NFT. Created by the Ethereum based service Cent, the tweet has been “authenticated” by Dorsey, CEO of the social network and payment
Every bull market is marked by a particular trend which which catalyzes and sustains the uptrend in asset prices. In late 2020 Ether (ETH) led the way as the network saw a surge in activity due to the growing popularity of the decentralized finance (DeFi) sector and the expectation that the altcoin would rally into the
The Turkish lira lost 15% of its value and dipped close to its all-time low after Turkey’s President Erdogan fired central bank governor Naci Agbal. This resulted in a massive spike in Bitcoin (BTC) searches in Turkey as investors sought to protect their wealth from devaluation. This is just another example that shows how investors
Jordan Belfort, the self-proclaimed “Wolf of Wallstreet” has moved away from his bearish views on bitcoin and now predicts the crypto asset might reach $100,000. Belfort, who has reinvented himself as a motivational speaker and consultant, says bitcoin unlike company stocks is more about “pure supply and demand.” He adds that the crypto asset is
The first-ever virtual version of Blockchain Africa delivered an optimistic outlook for the cryptocurrency and blockchain space in the continent as the world settles into a new normal dictated by COVID-19. The conference featured a number of well-known industry commentators, participants and thought leaders from around the world who addressed a completely virtual audience. The
Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb. Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several unnamed sources. Naver is the provider of South Korea’s largest search engine
The price of Bitcoin (BTC) is consolidating between the $55,000 to $59,000 range, establishing the mid-$50,000 region as a support area. This trend coincides with strengthening on-chain fundamentals, such as whale and address activity. Since the Bitcoin rally began to accelerate in November 2020, the seven-day average active address has increased in tandem. A pseudonymous
Cristiano Ronaldo became the first soccer player to be rewarded for his career achievements in cryptocurrency, after the Juventus F.C. star received 770 JUV tokens — one for each senior career goal scored, as reported by Spanish outlet Marca. JUV is the official Juventus fan token, launched in 2019 by the Italian football club on
The team behind Turtledex protocol, a Binance Smart Chain (BSC) project has reportedly rug pulled its investors shortly after raising 9,000 Binance tokens worth $2.5 million. Immediately following the confirmation of the theft, the value of the protocol’s native token TTDX, reportedly plunged to near zero. At the time of writing, the social media accounts
On Dec. 22, 2020, the United States Securities and Exchange Commission filed a complaint against Ripple Labs. The complaint essentially alleged that Ripple had engaged in a multi-year, sustained practice of illegally selling unregistered, non-exempt securities in the form of its XRP tokens. This complaint, having been filed on the last day of former SEC
Bitcoin’s liquid supply continues to shrink, with only 36% of circulating BTC being moved on-chain in the past six months. According to data shared by on-chain crypto data aggregator Glassnode on March 21, the peak of the 2017 bull market saw 50% of Bitcoin’s supply circulating within the preceeding six months. In bull markets old
Though Ether’s (ETH) value has continued to showcase increasing signs of stability around the $1,800 range over the past fortnight or so, users of the premier altcoin’s network have been faced with rising gas fees as well as increasing network congestion issues. To put things into perspective, since summer last year, a time when the
The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund firm, has warned that the government could “impose prohibitions against capital movements” into assets such as bitcoin. He added that regulators may also impose changes in taxes that “could be more shocking than expected.” Ray Dalio Warns About Government Prohibitions and