Bitcoin has made a number of marked recoveries in its price lately. The most notable of this recovery has been the break above $57,000. This effectively set a new four-month high, hitting price points that have not been reached since the market had peaked in May. It is no doubt that the bulls currently have control of the market and investors’ sentiment is very positive with this. But CrossTower research analyst Martin Gaspar thinks this may only be the beginning of the rally. It would seem the analyst is in…
Month: October 2021
FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase
The come-up of the FTX cryptocurrency exchange has been one of the most inspiring stories out of the crypto space. Its success put its CEO Sam Bankman-Friend on the path to become one of the richest crypto billionaires. The 29-year-old was featured on the Forbes 2021 List of 400 Richest People In America, which saw the CEO named as the richest crypto billionaire. Although FTX has had an impressive track record, the road to the present was not always an easy one. CEO Sam Bankman-Fried opened up on some of…
Powerbridge Technologies Set To Launch Bitcoin And Ethereum Mining In Hong Kong
Powercrypto Holdings, a subsidiary of the blockchain software provider Powerbridge Technologies, is launching cryptocurrency mining, specifically Bitcoin (BTC)and Ethereum (ETH), in Hong Kong. These cryptocurrency operations will utilize environmental-friendly, green, and sustainable energy. This announcement was made in a press release on Friday, October 8, 2021 Powerbridge Technologies is a growth-driven technology company primarily engaged in SaaS solutions and Blockchain applications. Launching Crypto Mining In Hong Kong Powerbridge Technologies plans to deploy a total of 2,600 high-performance mining rigs in Hong Kong, including 600 BTC mining machines working at a hash rate…
Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz
Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment. New Investors Holding Up The Market Billionaire Mike Novogratz was on CNBC’s…
Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz
Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment. New Investors Holding Up The Market Billionaire Mike Novogratz was on CNBC’s…
Value Of Ethereum Held By Miners Reaches Five-Year Record Levels
Despite the Ethereum burn introduced with the London hard fork, miners are still making a good amount of revenue from mining. For ETH, the balance held by miners had been dropping since 2016. This was mostly a combination of poor market conditions and miners selling their holdings to fund their mining activities. With low prices, the total dollar value of miners’ ETH holdings had dropped. This number picked back up in 2021. Following the bull run which began in 2020, the price of Ethereum has gradually recovered. And by extension,…
Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey
Investor interest in Ethereum is no longer a novel phenomenon. The second-largest asset by market cap has seen more support with the rise of decentralized finance on its ecosystem. Applications of Ethereum have been the major drive behind the growth of the cryptocurrency and institutional and individual investors alike see the asset outgrowing number 1 coin Bitcoin in the coming years. A recent CoinShares survey has echoed the sentiment that has been held by investors in the market for a while now. It showed that number of investors who believe…
CEO Of Soros Fund Management Confirms That The Family Office Is Invested In Bitcoin
Billionaire George Soros’ investment fund has had its eye on bitcoin for a while now. Bitcoinist had reported in July that the fund was looking to start trading bitcoin. It would not be the first time the company was getting into the crypto market but it is the first time that the fund has traded in the digital asset directly. Bitcoin was at the top of its list. However, the fund had its eye on other crypto-assets in the space. Soros Fund CEO Dawn Fitzpatrick has now confirmed that the…
Cardano Investors In Japan Come Under Fire For $6 Million In Underreported Taxes
Cardano investors in Japan have come under scrutiny after authorities reported that investors in the asset had underreported their taxes from their trading activities. It was reported that multiple cities in the country had seen profits from trading in Cardano’s native token ADA but had not reported the earnings made from investing in the digital asset. Authorities are now beginning to strengthen taxation laws around cryptocurrencies given that citizens have taken to using digital assets as a way to evade tax liabilities. Japanese citizens are investing more in cryptocurrencies and…
Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train
Bitcoin recovered above $50K on Tuesday following a rallying that pulled the market back into the green. October has so far been good for the digital asset and investors have begun to return again into the market amid recovering prices. On the investment front, inflows show that institutional interest in bitcoin is returning after inflows had fallen short of expectations in the previous weeks. Bitcoin Makes Up 76.6% Of Weekly Inflows A report published by CoinShares shows that bitcoin inflows had picked back up. Altcoins had been taking more market…