On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as banks like the Federal Reserve flood the monetary system with stimulus by creating trillions out of thin air. The digital asset BTC has made headlines today, as the price per unit has once again crossed…
Day: May 8, 2020
Buried Report Reveals Factors Behind South Korea’s ‘18 Crypto Crackdown
A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown that played a featured role in ‘Crypto Winter’. Digital Today dug up the “2017 Anti-Money Laundering Annual Report” which showed the Financial Intelligence Unit had identified more than half a million crypto transactions in South Korea in 2017 related to illegal activities. The 519,908 crypto transactions were flagged by authorities as “suspicious” and the upswing in money laundering fuelled the national government’s decision to carry out a partial crypto crackdown in…
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Bitcoin Hits $10K — Paul Tudor Jones Buys BTC Comparing it to Gold
Today Bitcoin (BTC) hit $10,000 after finally managing to break above a long-term descending trendline at $9,400. The break above the important psychological level comes as there are only 4 days left until the Bitcoin block reward halving and a strong sustained surge in purchasing volume shows retail traders are steadily piling into the digital asset. Crypto market weekly price chart. Source: Coin360 Data from Cointelegraph Markets and CoinMarketCap shows that shortly after 11:34 p.m. UTC BTC/USD moved to $10,000. From this point traders will watch to see if the…
Bitcoin Breaches $10K for First Time Since February
Bitcoin (BTC) rallied Thursday on high volumes, trading above $10,000 for the first time since Feb. 24 late in the day. The bellwether cryptocurrency surged nearly 7% in 24 hours to $10,071 as of 23:47 UTC (7:47 pm EDT), with most of those gains made in the last 12 hours. The price was flitting on both sides of the $10,000 threshold as of press time. The rally means investors who purchased bitcoin at the beginning of the year would now be up almost 40% on their investment. The rise comes after…
Here’s What Analysts Think Comes Next
Just hours after our last market update, Bitcoin has topped $10,000. This is the first time the cryptocurrency has done this in over seven weeks. After holding $9,400 for all of Wednesday, the cryptocurrency surged higher over the past few hours, passing resistance after resistance in the $9,000s, culminating in the surge past $10,000 just minutes ago. Chart from TradingView.com This latest move may not be that notable in percentage terms but analysts say it’s important from a technical standpoint. One trader, in fact, commented that once Bitcoin decisively clears…
Here’s What Analysts Think Comes Next
Just hours after our last market update, Bitcoin has topped $10,000. This is the first time the cryptocurrency has done this in over seven weeks. After holding $9,400 for all of Wednesday, the cryptocurrency surged higher over the past few hours, passing resistance after resistance in the $9,000s, culminating in the surge past $10,000 just minutes ago. Chart from TradingView.com This latest move may not be that notable in percentage terms but analysts say it’s important from a technical standpoint. One trader, in fact, commented that once Bitcoin decisively clears…
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‘Fastest Horse’ Bitcoin Blasts Toward $10,000 as Paul Tudor Jones Backs BTC
Bitcoin’s price peaked at $9,972.03, its highest in two-and-a-half months. Billionaire hedge fund manager Pual Tudor Jones says he bought BTC futures to hedge against inflation. Bitcoin’s quadrennial halving event is likely to fall on May 12. The price of bitcoin edged closer to the psychological $10,000 level on Thursday, as investors geared up for the quadrennial halving in roughly five days. Meanwhile, one of the world’s most famous investors just threw his weight behind BTC as a hedge against inflation. Bitcoin Approaches $10,000 Bitcoin’s value peaked at $9,972.03 on…
This Chart Suggests Ethereum May Be Exiting a Bullish Accumulation Phase
Ethereum has been showing some unprecedented signs of weakness in recent times. This can be seen clearly while looking towards the cryptocurrency’s BTC trading pair. It does appear that in the near-term, the crypto is at risk of seeing a sharp decline as it struggles to remain steady above the support that exists around $200. In spite of this, analysts are noting that one technical pattern seems to suggest that the cryptocurrency could be in the process of exiting an accumulation phase as it continues struggling to hold ground against…