Day: December 16, 2020

Bitcoin smashes historical high above $20k. Here’s why it’s different from 2017

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The Bitcoin (BTC) price surged to all-time highs on Wednesday, zipping past $20,000 in a show of bullish momentum for the flagship cryptocurrency.  Although it’s easy to draw parallels between this year’s bull market and the speculative frenzy that drove the 2017 rally, the foundations underpinning Bitcoin are much stronger today than they were just a few years ago. Bitcoin-as-a-hedge While there are many metrics that could explain Bitcoin’s resurgence this year, it’s important to start from the very top. Unlike in 2017, investors today are accumulating Bitcoin with a…

Ethereum’s 6 biggest accomplishments of 2020 (and 5 disappointing moments)

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The year 2020 has been nothing short of spectacular for Ethereum. Between Ethereum 2.0 and the quest for scalability, the decentralized finance explosion, and the successes of interoperability and money settlement — just to name a few — the richness of narratives underpinning Ethereum has arguably surpassed Bitcoin itself. Whereas Bitcoin is the reliable, stoic uncle, Ethereum can be described as the maverick cousin of the crypto world. But of course, a volatile environment hits hard both ways. Peaks of excitement and success almost need to be counterbalanced by troughs…

US authorities eager to deter citizens from unregistered crypto exchanges

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Many overseas cryptocurrency exchanges would be happy to have U.S. traders as clients, but these days, American residents might as well have a sign around their necks reading “Danger: high voltage!” That’s been the case since Oct. 1, at least, when the United States Commodity Futures Trading Commission filed a complaint against Seychelles-registered BitMEX for soliciting U.S. residents and thus violating the Commodity Exchange Act. According to the complaint: “BitMEX has never been registered with the CFTC in any capacity and has not complied with the laws and regulations.” This…

Why bots can be crucial for crypto traders in the futures markets

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The crypto industry has matured substantially in recent years — so much so that it’s practically unrecognizable when compared to the bull run of 2017. And one of the biggest developments in this dynamic space? Futures. These derivatives give investors exposure to the price movements of major cryptocurrencies like Bitcoin, without the need to physically own the asset. Although the arrival of futures trading presents opportunities, it isn’t without risks — after all, BTC remains as prone as ever to sudden price movements.  Through the futures market, crypto enthusiasts have…

Fractional stocks go to pot as FTX lists tokenized cannabis shares

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Cryptocurrency derivatives exchange FTX has announced it is growing its line of tokenized stock offerings, with the addition of five cannabis-related businesses. The Wednesday announcement, tweeted by FTX and Alameda Research CEO Sam Bankman-Fried, came in a haze of ex-hemp-lary (sorry) marijuana puns. “To be blunt, this is one of the dopest joint listings we’ve done. FTX: blazing a path forward and weeding out the competition.” The newly listed tokenized stocks are some of the biggest names in the cannabis market: Tilray, Canopy Growth Corporation, Aurora, Chronos Group and Aphria.…

‘All bets are off’ now that Bitcoin has broken $20K, says trader

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After toying with all-time price highs in recent weeks, Bitcoin (BTC) finally crossed $20,000 for the first time on Wednesday. The digital currency hovered around $20,800 at time of publication.  “We have been waiting for this moment for years, and now that $BTC #Bitcoin has finally broken 20k, all bets are off,” Cheds, a crypto trader and analyst on Twitter, told Cointelegraph. “What happens next could make history,” he said, adding: “Do we blast to 30k? Or do we pull back to 14k and form a cup and handle, or something…

Bitcoin is on the Cusp of Seeing an Explosive Rally as Bulls Shatter $20k Resistance

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Bitcoin is officially trading at the highest prices it has ever seen, with today being a monumental day for the cryptocurrency This historical milestone has come about following multiple attempts, and failures, at breaking above $20,000 The eventual break above this level could now spark an epic short-squeeze that liquidates all the $20,000 limit-short orders that bears had set One trader is now noting that the break above this level is highly likely to be sustainable, as the resistance around $20,000 had been degrading for the past couple of days…