Day: March 5, 2021

Bitcoin’s next top could be between $75K and $306K, Kraken research suggests

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Analysis of Bitcoin (BTC) price action dating back to 2011 suggests the coin price could next top out somewhere between $75,000 and $306,000, research from Kraken shows. Based on one reading of a logarithmic growth curve that connects historical tops and bottoms, a coin price of $75,000 would signal Bitcoin’s entry into overbought territory, marking the end of its current bull run. “Based on previous cycles, Bitcoin could likely continue appreciating gradually in price before ultimately going parabolic and hitting resistance, which will signal the end of its fourth bull…

Square’s $297M stake in Tidal could unlock DLT features, analyst says

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Square’s majority stake in Jay-Z’s streaming service Tidal could potentially result in some blockchain-related functionalities on the platform, according to one analyst. Avivah Litan, a technology analyst at consulting company Gartner, suggested that Square’s $297 million investment could push Tidal to start taking advantage of new technologies like blockchain and cryptocurrencies, Reuters reports Friday. With Square’s help, Tidal would specifically benefit from the technology of non-fungible tokens, or NFTs, which allows artists to certify ownership for photos, videos and other digital content, the expert noted. NFT technology could easily track…

Why Bitcoin price is slumping below $50K

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The price of Bitcoin (BTC) is extending its slump below $49,000 on March 5 as the U.S. dollar index (DXY) reached the highest levels since November 2020.   DXY (blue) vs. BTC/USD (orange). Source: Tradingview Meanwhile, the prospect of rising rates and a potential stock market top is putting downward pressure on equities and Bitcoin, causing the entire cryptocurrency market to pull back. Rising treasury yields — the biggest threat to Bitcoin? Bitcoin and risk-on assets, in general, have been heavily affected by rising 10-year treasury yield rates in the U.S. As…

MicroStrategy dismisses market uncertainty, buys another Bitcoin dip

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MicroStrategy, a software company that’s been making headlines for its aggressive Bitcoin purchases, has made another $10 million purchase after Thursday’s market uncertainty. As announced by CEO Michael Saylor, the company purchased another 205 BTC at an average price of $48,888, spending $10 million in cash to do so. This puts the company’s total Bitcoin holdings at 91,064 BTC worth $4.3 billion. The total cost basis of the BTC is $2,196 billion with an average purchase price of $24,119. MicroStrategy’s latest Bitcoin purchase is one of its many “symbolic” buys where…

What is Cryptocurrency ? is it Legal To Invest In Cryptocurrency In India 2020 ?

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Let’s Understand Cryptocurrency & Bitcoin in Very Simple Language, is it Legal To Invest / Trade In Cryptocurrency In India & How To Earn Money From Cryptocurrency Trading Download Coinswitch Kuber App : Join Our Telegram Family : Cryptocurrency Related Articles : Cryptocurrency Ban Removed : Elon Musk On Bitcoin : TCS Cryptocurrency Service : You May Like Other Videos : ___________________________________________________ Three Reason’s Why Traders Lose Money After Profit : Why Binomo Ask For Verification & How To Verify Binomo Profile…

Bitfury’s US Bitcoin mining subsidiary to go public via $2B SPAC merger

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Cipher Mining Technologies Inc. a subsidiary of blockchain development firm Bitfury has inked a $2 billion merger deal with Nasdaq-listed Good Works Acquisition Corp — a special purpose acquisition company, or SPAC. Both companies have entered into a business combination agreement. According to a press release issued on Friday the merger will see Bitfury’s U.S. Bitcoin (BTC) mining enterprise become a publicly-listed company under the banner Cipher Mining Inc. In addition to the combined $2 billion valuation for Cipher, investors like Morgan Stanley-backed Counterpoint Group and Fidelity Management and Research…

4 of Best Local Cryptocurrency Exchanges for 2021

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Choosing the local cryptocurrency exchange that’s best for you largely depends on your personal needs and circumstances. In the last year, cryptocurrencies have once again exploded in popularity, as some of the most popular digital assets like Bitcoin (BTC), Ethereum (ETH), and dozens of other cryptocurrencies reached heights not seen since 2018 or earlier. In this time, massive institutional investors, like Grayscale, Square, One River Asset Management, and more have been stockpiling Bitcoin and other cryptocurrencies, while cryptocurrency trading volume continues to reach ever greater heights – since the returns…

Dow Tanks 350 Points After Powell’s Lukewarm Response to Surging Bond Yields and Inflation

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The Federal Reserve chairman acknowledged the surge in the US Treasury bond yields but didn’t suggest any action to keep the long-term yields under check. On Thursday, March 4, the US stock market remained under pressure with the Dow Jones Industrial Average closing 345 points down. DJIA (INDEXDJX: .DJI) ended the trading session 1.1% down closing at 30,924 levels.  During the trading hours on Thursday, the blue-chip benchmark tanked 700 points. Not only Dow is losing points. The tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) tanked 2.1% or 274 points ending up negative…

Focus Remains on Dollar and Yields

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Bitcoin prices extended losses on Friday as the US dollar gained alongside the long-term Treasury yields. Downside pressure on cryptocurrency remains amid expectations of modest job growth in the US. The technical support offered by the 20-period moving average on the four-hour chart maintains Bitcoin’s medium-term bullish outlook. Bitcoin dropped Friday, suggesting that the benchmark cryptocurrency may decline further into the week, followed by an equally depressive weekend session in the wake of the rising US dollar and a recent spike in the US Treasury yields. Bitcoin Short-Term Targets The…

Thai bank’s venture arm invests in institutional crypto custodian Anchorage

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Just last month, SCB 10X — the venture arm of Siam Commercial Bank — had announced its new $50 million fund dedicated to investments in global blockchain, decentralized finance and digital asset startups. The banking institution is Thailand’s oldest bank, established by royal charter back in 1907, and its latest forays into blockchain via SCB 10X are already underway. According to a report on March 5, SCB 10X is a contributor to the recent $80 million Series C raised by Anchorage, a crypto custodian and digital asset platform that received the…