Analyst Expects “Sideways” Action Until Bitcoin (BTC) Passes $6,000

Bitcoin Needs $6,000 For Extended Rally DonAlt, a notable crypto analyst and industry personality, recently took to Twitter to issue his thoughts on the current state of the Bitcoin (BTC) market. He noted that as it stands, many optimistic investors are under the impression that if BTC convincingly breaks above $4,400 — the peak of the cryptocurrency’s micro-rally following December 14th’s $3,150 low — further highs would have a high likelihood of coming to fruition. However, DonAlt claims that this sentiment isn’t sensical, remarking that a “higher low in combination…

Torch Secured: Fidelity Investment’s Crypto Division Joins Bitcoin Lightning Trust Chain

It isn’t a secret that the Lightning Network, a second-layer solution aimed at easing the qualms Bitcoin faces with scalability, has seen monumental levels of adoption as of late. The ecosystem has seen its maximum capacity swell over the 700 BTC milestone, cementing its viability as a system that provides cost-efficient, rapid, secure, and more private transactions. But this growth hasn’t come unwarranted. Arguably, Lightning’s sudden surge in adoption has much to do with grassroots efforts, like Lightning Pizza and the ever-popular Trust Chain community initiative, launched by Hodlnaut just…

Torch Secured: Fidelity Investment’s Crypto Division Joins Bitcoin Lightning Trust Chain

It isn’t a secret that the Lightning Network, a second-layer solution aimed at easing the qualms Bitcoin faces with scalability, has seen monumental levels of adoption as of late. The ecosystem has seen its maximum capacity swell over the 700 BTC milestone, cementing its viability as a system that provides cost-efficient, rapid, secure, and more private transactions. But this growth hasn’t come unwarranted. Arguably, Lightning’s sudden surge in adoption has much to do with grassroots efforts, like Lightning Pizza and the ever-popular Trust Chain community initiative, launched by Hodlnaut just…

Bitcoin Spikes 5% to $4,100 in 2 Hours, Analyst Says Market Looks Bullish

Within less than two hours, the Bitcoin price surged from $3,920 to $4,137 by more than 5 percent against the U.S. dollar. The Bitcoin price surged above $4,100. The abrupt and strong performance of the dominant cryptocurrency fueled other major crypto assets in the likes of EOS, Ethereum, and Litecoin to record large gains in the range of 4 to 7 percent. Ethereum spiked from $147 to $157 immediately after the initial price movement of Bitcoin by around 6.8 percent. Confidence is Returning to Bitcoin and the Crypto Market Speaking…

Newsflash: Bitcoin (BTC) Surmounts $4,000, Sees Another Weekend Rally

Bitcoin Rallies Past $4,000 As Altcoins Run That’s right, the day has finally arrived. After trading under $4,000 for weeks on end, Bitcoin (BTC) found itself back over that price level on Saturday. According to data compiled by Coin Price Watch, the asset is currently trading at $4,133, finding itself up by 3%. Bitcoin markets have seen $8 billion dollars in volume over the past 24 hours, indicating that liquidity has returned to this nascent market — at least over the short-term. Alternative crypto assets have also posted notable gains.…

Crypto Tidbits: Elon Musk Enamored With Bitcoin, CME Futures Set Record, Samsung Delves Into Blockchain

What a crazy week it has been for the crypto space. Elon Musk lauded Bitcoin for its “brilliant” structure, subsequently claiming that crypto assets are evidently a better medium of exchange than banknotes. CME’s Bitcoin futures posted a new record, even amid the “nuclear winter.” And Samsung delved into blockchain with its “KeyStore” offering, slated to launch on its Galaxy S10 flagship device. Crypto Tidbits CME Bitcoin Futures Set Record Volumes: Per exclusive data gathered by The Block, the Bitcoin futures market backed by the Chicago-based CME has garnered monumental levels of attention…

Bitcoin Hovers Under $4,000 as Top Cryptos See Mixed Movements

Saturday, Feb. 23 — the top 20 cryptocurrencies are reporting mixed movements on the day by press time. Bitcoin (BTC) is hovering under the $4,000 mark again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is down 0.26 percent on the day, trading at around $3,976 after a brief mid-day high of $4,005, according to CoinMarketCap data. Looking at its weekly chart, the current price is over 8 percent lower than $3,643, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ethereum (ETH)…

Russian State Duma to Review Crypto Regulation, Oil-Backed Crypto in Development

The Russian State Duma (the lower house of the Federal Assembly of Russia) plans to review and adopt new cryptocurrency regulation in March.  The former Energy Minister Igor Yusufov is also proposing an oil-backed crypto, Russian financial outlet Rambler reported on Feb. 21. Furthermore, Rambler reports that the head of the Energia investment-oriented corporation, former Energy Minister Igor Yusufov, also has tangible prospects for proposing an oil-backed cryptocurrency. The construction of the project’s roadmap is reportedly almost at the final stage. In an interview with Rambler, Yusufov reportedly said that…

Derivatives Giant Fidelity Investments Receives and Passes on the Lightning Torch

Financial derivatives giant Fidelity Investments received and passed on the Lightning Torch, as revealed by tweet by the company sent on Feb. 22. Just like the Olympic torch, the Lightning Torch is being passed between members of the Lightning Network community. The trend first reportedly started when Twitter user and Bitcoin (BTC) enthusiast Hodlonaut sent 10,000 satoshis (the smallest, indivisible fractions of a Bitcoin) to another Lightning user, and the user added another 10,000 satoshis and passed it on. Fidelity passed the torch to the Harvard School Blockchain & Crypto…

Texas Crypto Fund Unveils Two New Ways to Value Bitcoin

In a paper published this week, Tuur Demeester’s US crypto fund, Adamant Capital, suggests two new ways of determining the relative market value of Bitcoin. One measures investor sentiment; it’s called Relative Unrealized Profit/Loss Ratio. HODLer Position Change (HPC) is perhaps more interesting. Adamant finds HPC by measuring blockchain “liveliness.” They explain the concept as such: “A blockchain where all the coins move within a single block has at that moment a Liveliness of 100%. A blockchain of two years old with no new block rewards, and where exactly one…