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Day: May 1, 2020
Bitcoin Has Entered “Optimism” Phase — Is “Belief” Or “Fear” Next?
Data from the blockchain intelligence company, Glassnode, suggests that Bitcoin (BTC) has entered the “Optimism” phase amongst traders. The metric subtracts the net unrealized loss from the net unrealized profit of all circulating Bitcoin supply to gauge market sentiment. This indicator tends to increase during bull markets and the company suggests that the various value bands indicate market phases. Source: Glassnode With the recent increase in the price of Bitcoin, apparently, the market has migrated from “Hope” to the “Optimism” phase. Next, the asset could either continue its momentum and enter…
Bitcoin Has Entered “Optimism” Phase — Is “Belief” Or “Fear” Next?
Data from the blockchain intelligence company, Glassnode, suggests that Bitcoin (BTC) has entered the “Optimism” phase amongst traders. The metric subtracts the net unrealized loss from the net unrealized profit of all circulating Bitcoin supply to gauge market sentiment. This indicator tends to increase during bull markets and the company suggests that the various value bands indicate market phases. Source: Glassnode With the recent increase in the price of Bitcoin, apparently, the market has migrated from “Hope” to the “Optimism” phase. Next, the asset could either continue its momentum and enter…
Market Wrap: May Opens With Equities Lower While Bitcoin Steady at $8.7K
While traditional markets started the new month with a sell-off, bitcoin is holding its own. Bitcoin (BTC) was trading up 1.2% over 24 hours at $8,728, with 10-day and 50-day technical indicator moving averages continuing to signal sideways sentiment Friday. A slight price rally to $9,000 took place at around 12:00 UTC (9 a.m. EDT), though it later pulled back to $8,700 territory at press time. Bitcoin trading on Coinbase since April 29Source: TradingView The first trading day in May saw Japan’s Nikkei 225 index closing in the red 2.8%.…
Price Analysis 5/1: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM
Most major cryptocurrencies are facing resistance at higher levels, meaning a few days of consolidation could be needed before the rally can resume. The total crypto market capitalization has jumped from about $198 billion on April 22 to over $263 billion on April 30. This 32% rally in roughly eight days shows that investor sentiment is bullish. While this is a positive sign, the problem is that most people expect a repeat of the previous bull run. But with coronavirus still not reigned in, investors are likely to sway between…
Is Elon Musk Selling His Bitcoin?
As part of a recent series of nonsensical tweets, Tesla’s eccentric founder, Elon Musk, expressed plans to sell all his physical possessions. Are his Bitcoin (BTC) holdings included in the fire sale? “I am selling almost all physical possessions,” Musk tweeted on May 1. “Will own no house,” he noted, adding: “Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul.” Musk rattled off strange posts to kick off May Musk followed up his fire sale tweet with a comment…
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Second Place Is Still Great, CZ!
Following Binance’s acquisition of CoinMarketCap, we have some great news for Changpeng Zhao: the silver medal is still worth winning. To celebrate the seventh anniversary of the platform’s launch, CoinMarketCap invited crypto industry participants to ‘roast them’ today. And we’re happy to oblige. @Cointelegraph: Since your writers never create any original content, wanna try your hand at being creative for once and roast us? #RoastCMC — CoinMarketCap (@CoinMarketCap) May 1, 2020 We reviewed the numbers with Jonathan Chu, VP of Product at Blockfolio, to find out if CZ really bought…
BTC Maximalists Are Right That 95% of Crypto Is a Scam, Says Emin Gun Sirer
There are more than 5,000 diverse cryptocurrencies being traded with a total market cap of nearly $250 billion. As much as 95% of those cryptos are nothing but scams, according to the creator of the world’s first proof-of-work, or PoW, crypto. Emin Gun Sirer, the creator of the first PoW-based crypto, the Karma System, is confident that the vast majority of cryptos do not represent any tech advancement and only exist to grab people’s money. Bitcoin did it first In an April 29 AMA session with Equilibrium EOSDT, Sirer slammed…
No Global Central Bank Is Working on Retail Digital Currency Use, Says R3
No central bank is currently working on a Central Bank Digital Currency, or CBDC, that can be used by consumers, according to enterprise blockchain firm, R3. A recent report by R3 claims that no central bank is currently pursuing the development of a retail CBDC. As the authors of the document explain, CBDC’s are divided into wholesale and retail: the first is limited to commercial banks while the latter can involve corporations, small businesses, and even individuals. The report explains that a wholesale CBDC is just a new modernization step…