‘Classic top setup’? Bitcoin price flash crashes on Kraken after all-time high

Bitcoin (BTC) reached a new all-time high on various exchanges on Nov. 30, but one record, in particular, hit the headlines for a different reason. Data from cryptocurrency exchange Kraken shows BTC/USD hit its highest ever price on its order book — then diving to $16,600 in seconds. Kraken BTC price dumps $3,000 The reason for the crash, which will have liquidated a large number of positions and caused considerable pain for many a speculator, was likely what is known as a “stop-loss run.” Stop-loss runs involve large-volume traders who…

Nikola Shares Drop 24% after GM Scales Down Partnership Deal

Nikola shares have been on a rollercoaster in the past few months. In early September, the company registered a spike after it announced the GM partnership. However, shortly after, Hindenburg Research published a report that claimed Nikola had deceived investors to bump up its price. The short seller pointed to Trevor Milton, the founder and chair of the company, as the perpetrator. While Nikola denied the charges, Milton eventually stepped down as chair. However, shortly after, GM CEO Mary Barra confirmed that her company was still determined to work with…

Blockchain Bites: Bitcoin All-Time High Puts It on Pace for Highest Monthly Close

Blockchain Bites is back – we hope you enjoyed the holiday pause. Now for the news: Another major hedge fund may allocate to bitcoin. Kaspersky sees cybercrime on the rise for 2021. And anonymous developers have forked a seemingly dead project to launch DeFi’s latest stablecoin. And, perhaps most notably, bitcoin has set a new all-time high. “After nearly three years of waiting, bitcoin investors can celebrate a new all-time high Monday after the leading cryptocurrency traded as high as $19,786, breaking the previous record set in December 2017 by…

Bitcoin Price Surges Above $19,700, Sets New All-Time High

Bitcoin has today set a new all-time high with the leading cryptocurrency trading as high as $19,800 in the past few hours. This milestone broke the previous all-time high of $19,666 recorded on the Bitstamp exchange on Dec 16 2017. Huge Milestone for Bitcoin Creating a new all-time high represents a major milestone for Bitcoin in what has been a remarkable year for the leading coin. Bitcoin has been able to brave major economic crisis like the Covid-19 pandemic and has embarked on an extended bullish run since its yearly…

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Justice Department extradites alleged BTC mining Ponzi operator from Panama

Per a Monday announcement, the United States Department of Justice and the Southern District of New York have extradited from Panama a leader of alleged Ponzi scheme AirBit Club.  Gutemberg Dos Santos is one of six operators of AirBit Club indicted, and the last to come into the U.S. to face trial before the SDNY. Dos Santos is a dual citizen of Brazil and the United States. Authorities initially apprehended five of the six back in August, with a sixth avoiding authorities until October.  The DoJ alleges that AirBit Club sold…

Can DeFi indices finally make crypto-based passive investing worthwhile?

Index investing in the stock market has become extremely popular thanks to the proliferation of exchange-traded funds, or ETFs, which often track popular market indices like the S&P 500 or the Nasdaq-100. Investing in the entire market can be a simple but effective strategy. Instead of spending energy and time in trying to beat it — often unsuccessfully — investors are guaranteed average returns, which in the past 10 years have been more than respectable both in stocks and in crypto. The rise of decentralized finance in the summer of…

Bitcoin theft is likely to surge in meager post-COVID economy: Report

Cryptocurrency-related fraud and theft are likely to grow in the post-COVID-19 world, according to a new report by cybersecurity and antivirus provider Kaspersky Lab. Securelist, Kaspersky’s cyberthreat research arm, published a report on cyberthreats to financial organizations, forecasting some specific types of financial attacks that are likely to surge in 2021. Securelist has predicted that a wave of poverty fueled by the COVID-19 pandemic will inevitably lead to “more people resorting to crime including cybercrime.” That could also mean a rise in crimes related to Bitcoin (BTC). According to Kaspersky’s…

Bitcoin Explodes to Fresh All-Time High; Here’s What Could Come Next

Following what is described as an “epic bear trap” to $16,400, Bitcoin has officially set a fresh all-time high. The benchmark digital asset has never traded as a price this high on the spot market before, with bulls now trying to push it above $20,000. It does appear to be facing some resistance as it navigates into this price region, with bears ardently attempting to fade the movement. Regardless of whether they are successful, the cryptocurrency’s historic move higher this morning will likely market a macro turning point for BTC…