Month: January 2021

Bitcoin price returns to troubled waters hours after Elon Muskโ€™s BTC tweet

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When Bitcoin’s (BTC) price dropped 10% to $29,150 on Jan. 27, something unusual happened with the Chicago Mercantile Exchange (CME) BTC futures contracts.ย  As the price fell, these CME Bitcoin futures traded at a 1% discount to Coinbase, which signaled a disarrangement between both markets. Good morning. Bitcoin spot has almost full retraced the weekly. CME bitcoin futs are both backwardian and expire Friday. That is all. โ€” i.am.nomad (@IamNomad) January 27, 2021 Immediately, traders suggested that futures contracts, which were set to expire in 48-hours, were responsible for the…

Beyond Coinbase: 8 Other Ways to Buy Bitcoin

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When Elon Musk adds #Bitcoin to his Twitter bio, you know buying bitcoin is in vogue again.ย  The cryptocurrency is pumping, perhaps not-too-coincidentally, as investing app Robinhood faces criticism for censoring stock and crypto trading in response to the Wall Street Bets saga.ย  With Robinhood taking heat, Coinbase is basking in the glow. Coinbaseโ€™s popularity has climbed to its highest point since 2017, and itโ€™s now the ninth-most downloaded application on Appleโ€™s (AAPL) U.S. app store as well. The centralized exchange is one of the oldest in the game and…

Top Advantages of Crypto Wallet

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Against that backdrop, hardware wallets are the clear winners for storing crypto in the long haul. Many of them come with backup options. So, should you ever lose the USB-like device, you can retrieve your coins hassle-free. Freedom and Convenience A crypto wallet gives you a lot of freedom to spend your coins the way you want. See, you hold the secret keys required to sign transactions. And that means youโ€™re in full charge of the coins. With this freedom, you could use your Bitcoins to buy stuff at shopping…

Shyft Network Unveils SHFT Token to Power Decentralised Identity Verification Protocol

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Shyft Network will bridge this gap to facilitate institutional adoption of blockchain-based solutions through its opt-in infrastructure. Blockchain-based identity verification network Shyft Network has unveiled its native cryptocurrency, the SHFT token together with its planned use case. The news comes as a timely reminder of the networkโ€™s relentless effort to provide an ideal platform for reclaiming trust, identity, and credibility for humanity. SHFT Token The SHFT token, being the native cryptocurrency, will be used as the only acceptable means of payment for security and operations on the Shyft Network. The…

Whales And Miners Face Off Against Elon Musk Bitcoin FOMO, Robinhood Retail

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Over the last few days, whales and miners have been depositing the largest amount of Bitcoin this year, yet despite all the selling, price is soaring. The reason? Elon Musk has changed his Twitter bio to include the cryptocurrencyโ€™s hashtag and it has ignited a flood of FOMO from retail Robinhood traders seeking free markets. Miners, Whales, And More Canโ€™t Stop Bitcoin Rally Bitcoin kicked off 2021 as bullish as can be, rising from under $30,000 to above $42,000 in a matter of days. After that high, things turned bearish…

Ripple demands to know why Ether isn’t a security as XRP defense gets desperate

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Ripple’s case before the Securities and Exchange Commission is threatening to have major, well, ripple effects for the industry. On Jan. 29, Ripple Labs filed its response to the SEC’s complaint. Ripple, as it has many times before, argued that XRP is not a security i.e. an investment in Ripple and is therefore not in the SEC’s jurisdiction. Ripple is, moreover, prepared to drag the rest of the industry into its fight to make its case.ย  A Ripple representative told Cointelegraph: “The SEC has clearly picked two winners and ignored…

In Retrospect, It Was Inevitable: Elon Musk Pumps Bitcoin to Space

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The price action is fun, but the larger significance is about decentralized alternatives to todayโ€™s financial system. This episode is sponsored by Nexo.io. Last night, Tesla and SpaceX founder Elon Musk changed his Twitter profile to a single word: โ€œbitcoin.โ€ He also tweeted a cryptic message: โ€œIn Retrospect, It Was Inevitable.โ€ The price of bitcoin surged in the wake of the tweet, as did Google searches for โ€œbitcoin.โ€ The price increases liquidated some $387 million in short positions. In this episode, NLW breaks down the market reaction to Musk, the…

After GME, Dogecoin and Bitcoin, Chinese Traders Are Betting What Will Pump Next

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Rallies in GameStock (NYSE: GME) shares as well as dogecoin (DOGE) and bitcoin (BTC) are piquing the betting interest of traders in China as much as they are in the United States. On Weibo, the popular social media platform in China, the highly active crypto community is speculating on which cryptocurrency will be next to get a major pump after dogecoin and bitcoin jumped in recent days. โ€œWere it not that Ripple was struggling with its lawsuit, the next token being pumped by the retailers in the U.S. could have…

THIS WILL BE THE CRAZIEST BITCOIN MOVE EVER!!!!!!!! [my exact trade]

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The power of memes and social media on full display

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Anyone who has been in the crypto space over the last few years will undoubtedly be familiar with Dogecoin (DOGE) and how social media activity drives its price action. A โ€œfork of a forkโ€ based on Litecoin (LTC), the coin has earned a unique reputation and a considerable cult status within the cryptocurrency space. Unlike other projects, Dogecoin has not seen any protocol upgrades or developments since 2015. Indeed, the success of DOGE derives more from the community-based efforts and the power of memes than from any tangible technical advancements.…