Day: April 12, 2020

Crypto Crash Created Rare Opportunities for Savvy Traders

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Despite the volatility of the March 12 – 13 crypto market meltdown, Coinbase has identified several unusual methods through which traders were profiting amid the chaos. The crash saw rare profits being generated through ‘crypto-and-carry’ derivatives arbitrage, stablecoin speculation, and the failure of MakerDAO’s auction protocol. Derivatives arbitrage through ‘crypto-and-carry’ trades Coinbase asserts that the sudden flip in market sentiment from bullish to bearish created opportunities for derivative arbitrage through “crypto-and-carry” trades. With the exchange estimating that the crypto market is usually net-60% bullish with futures prices higher than spot…

Bitcoin Could Become Like ‘Prison Cigarettes’ Amid Deepening Financial Crisis

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In an interview with Cointelegraph, John Vaz, economist and academic at Monash University, asserts that the outlook for Bitcoin (BTC) and cryptocurrency is dependent on the response from governments to the current economic crisis. John also emphasizes the importance of wider adoption and acceptance of cryptocurrencies, likening Bitcoin’s possible role as a money commodity in the context of deepening economic crisis to cigarettes in prisons. Bitcoin will correlate with mainstream markets in short term In the short term, Vaz is unsurprised that the price of Bitcoin has dropped, asserting that…

Hodler’s Digest, April 6–April 12

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Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price drops to key level as 100% rally since crash looks shaky After spending most of the week in a tight corridor between $7,100 and $7,410, Bitcoin suddenly dropped into the $6,900s on Friday. It means the world’s biggest cryptocurrency was unable to reach…

Are Bitcoin Cash Miners Driving Up the Price of Bitcoin?

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Bitcoin (BTC) price has been a sight to behold over the last week. After successfully breaking through the resistance of $7,200 on Monday, April 6, all eyes were on the leading digital asset to hold $7K as fresh support, but as soon as the weekend was upon us, the price fell through this floor finding a new temporary bottom of $6,750. So are these weekend dumps a sign that interest in Bitcoin is waning? Or is this simply whales taking advantage of thinner weekend volume to accumulate before the next…

Will Blockchain Technology Be Used to Build Evil Social Credit Systems?

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As much as I believe that blockchain technology has the potential to solve many of the problems humanity faces today, I also fear what can happen if blockchain technology is used to take away the privacy and rights of individuals. Do you want to live in a world where every purchase you make and every interaction you have with others is recorded, documented and unchangeable? What about a world where everyone is manipulated into rating each other in some kind of evil social rating system on a daily basis? Your…

Bitcoin Price Surges to $7,200 — Here’s What Top Traders Think Is Next

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The sentiment of top traders on the short-term trend of the Bitcoin price remains mixed after BTC surged by more than five percent within less than six hours from $6,840 to $7,200. Some prominent traders believe that the Bitcoin price could range between $7,700 and $7,300, grinding upwards to the low-$8,000 region. Others foresee a steep rejection in the $7,700 to $7,900 range, which has been a historically strong area of resistance. Crypto market daily performance. Source: Coin360 Generally, Bitcoin traders see $7,700 next for BTC The majority of top…