Crypto exchange Bitfinex and its sister firm, stablecoin issuer Tether, have again been accused of working to manipulate the bitcoin markets. Bitfinex has called the suit “mercenary and baseless,.” Source
Research from Crescat Capital suggests now is the ideal time to buy gold. The critical 70% inversion threshold has preceded all six of the last recessions. Bitcoin has outperformed gold in every respect over the last ten years, although there is no data relating to recessions. According to an in-depth analysis from Otavio Costa at Crescat Capital, now is the time to start accumulating gold. Costa, a portfolio manager at the firm, observes that when average Treasury yield curve spreads exceed a critical 70% threshold, gold will outperform stocks over…
The total crypto market cap lost $40.5 billion of its value during the last seven days and now stands at $194.3 billion. The top 10 currencies are all in red for the same time frame with EOS (EOS) and Binance Coin (BNB) being the worst performers with 30.4 and 29.7 percent of loses respectively. At time of writing, Bitcoin (BTC) is trading at $6,547 while ether (ETH) stands around $132. Ripple’s XRP is trading at $0.204. BTC/USD Bitcoin was trading in the $8,636-$8,376 area on Sunday, November 17, and closed…
The first deputy governor of the French central bank has called for distributed ledger technology (DLT)-based settlements and payment systems in Europe. Speaking at the AFME Annual Capital Markets Technology and Innovation Conference on Nov. 21, Denis Beau, the first deputy governor of Banque de France, delved into the issue of policy frameworks that could potentially help to bring innovation and growth into Europe’s capital markets. An important impact on the financial industry Beau suggested that the implementation of blockchain-based solutions could have an impact on the financial industry, stating:…
Social media influencers made people believe that quantitative easing is bullish for bitcoin. The recent selloff obliterated this narrative. HODLers now rely on the halving and the stock to flow ratio to ignite a bull market. Over the last few months, social media influencers on Twitter peddled that quantitative easing (QE) is bitcoin’s rocket fuel. The rationale is simple. If governments can print billions of dollars, some of it will eventually find its way to bitcoin. Additionally, QE may help people realize that governments can do what they wish with…
It seems like everyone wants to know a bit more about Bitcoin after prices of the cryptocurrency token have dropped significantly to new six-month lows. According to Google Trends, the recent spike in Bitcoin searches seems to have been originating from African countries with Nigeria, Ghana, and South Africa taking the lead while Austria and Switzerland are the other two countries that make up the top five sources of Bitcoin searches. The search terms have gone beyond just Bitcoin prices as other issues of significance within the crypto space such…
Bitcoin’s outlook went from bullish to extremely bearish real quick. Institutions may be playing a huge role in the current selloff. Miners and retail traders add to the supply of bitcoin in the market. Bitcoin is down over 21% in eight days. It has taken out key support of $7,400. Even worse, it is dangerously close to breaching psychological support of $6,000. With bears enjoying total dominance, the cryptocurrency market reeks with extreme fear. The bullish steam that drove bitcoin to a massive 40% gain in two days has gone…
A U.S. man has pleaded guilty to having embezzled millions from his former employer and splashing the funds on personal expenses and crypto-funded online poker. Source
Anthony Pompliano, a Bitcoin bull enthusiast, says that the hysteria surrounding the price of the BTC will probably increase more and more until there is “real blood on the streets”. In a new note to investors, Pompliano points out that Bitcoin has always forced weak hands to surrender, through extremely volatile cycles of new and arbitrary highs and lows. When Bitcoin reaches extended periods in an accumulation phase, it has always been caused by violent epidemics that have left investors panting longer for them to accumulate. Pompliano, the co-founder of…
The number of Ether (ETH) locked in decentralized finance (DeFi) applications reached an all-time high of 2.7 million, according to DeFi monitoring resource DeFiPulse, and has been steadily growing since the end of June. Of the 2.7 million ETH locked, 2.1 million (77%) are locked in the system behind the DAI stablecoin, Maker. Additionally, 337,800 ETH (12.5%) are currently locked in the decentralized lending application Compound. The remaining Ether is split between minor DeFi applications including decentralized exchanges and financial derivatives. Ether locked in DeFi applications. Source: DeFiPulse DeFi grows…