Not Convinced New Investors are Buying Bitcoin, Top Analyst Says

While headlines about tanking bitcoin prices serve ideal opportunities for investors to enter the cryptocurrency market, one top analyst thinks the asset is lacking new buyers. Alex Saunders, the CEO & Founder of Australia-based Nugget News, offered a wave of discouraging catalysts that might have driven people out of cryptocurrencies, including a wrecked US job report. More than three million Americans filed for unemployment last week, providing first-hand information about how the Coronavirus pandemic is affecting the US economy. “A downside is [now] likely for stocks & crypto,” asserted Mr.…

Japanese Investors Rushed To Buy The Dip After Bitcoin Bloodbath

The number of retail investors registering for an account with Japanese cryptocurrency exchange bitbank spiked by 40% in the week after the Bitcoin bloodbath.  The March 12 meltdown saw the price of Bitcoin (BTC) drop to a new 2020 low at $3,775. An official blog post by bitbank market analyst Yuya Hasegawa reveals that Bitcoin trade volume and account registrations both saw a significant surge in the wake of the crash. Even the number of users going through KYC was above average on the day of the BTC downturn and…

Retail Investors Can Now Use Paxos Gold as Collateral Against Loans

Crypto-lending platform Nexo has today, March 25, opened up the option of using PAX Gold (PAXG) as collateral against its loans to retail investors. A pilot scheme in late 2019 was limited to institutional clients and purportedly saw immediate demand for its gold-backed credit lines. Nexo’s announcement means that collateralized borrowing against high-grade gold is now no longer the preserve of the ultra-rich. Launched in September 2019, Paxos’ PAX Gold token is fully-backed by and redeemable for physical gold, stored in secure vaults. Each token represents one fine troy ounce…

Onchain Data Suggests Bitcoin Sell-Off Fueled by New Investors

While the covid-19 outbreak has caused economic calamity, cryptocurrencies have regained some of the losses that devastated digital currency markets on March 12. A recent report published by the researchers at Coin Metrics notes the “crypto asset sell-off was driven by short-term holders.” Further, an analyst at Unchained Capital agreed with Coin Metrics’ findings and wrote that “a majority of the volatility came from UTXOs 6 months old or younger.” Also read: The 35 Most Influential Bitcoiners Dominating Crypto Twitter by Follower Count Coin Metrics’ State of the Network Research…

ING Backed Hqlax to Target Institutional Investors, Says Platform’s COO

Following an undisclosed investment into Hqlax from Dutch multinational bank ING on March 6, Cointelegraph spoke to Nick Short, the COO of tokenized securities firm. Short describes ING as one of the company’s “longest-standing strategic partners,” emphasizing that the two firms have collaborated in developing and testing Hqlax’s tokenized securities platform for over two years. The two companies first partnered in 2017, with Hqlax launching an initiative to “develop DLT-driven solutions for more efficient and cost-effective liquidity management and collateral management in the global securities financing markets” alongside enterprise blockchain…

Mike Novogratz Says That Investors Have Lost Confidence in Bitcoin

As after any major Bitcoin (BTC) crash, analysts are now arguing over what could potentially have been the cause.  But this time, the answer is simple, at least according to noted Bitcoin bull and Galaxy Digital CEO Mike Novogratz. In a tweet on March 13, Novogratz said: “[Bitcoin] was always a confidence game. All crypto is. And it appears global confidence in just about anything has evaporated.” Pandemic panic The coronavirus pandemic has shaken global markets to their core, and disputes between oil-producing nations have only added to the misery.…

Bitcoin Mining Rig Manufacturer Canaan Sued – Accused of Misleading IPO Investors

Bitcoin mining rig manufacturer Canaan Inc. is being sued for allegedly breaking U.S. securities laws before its initial public offering (IPO). Phillippe Lemieux, a Canaan investor, filed a class-action lawsuit that claims the company violated the Securities Act of 1933. Lemieux believes Canaan misled investors and the Securities and Exchange Commission (SEC) in regards to the company’s financial wellbeing. Also Read: Bitcoin Cash Community Supports Greater Privacy by Donating Over 100 BCH to Cashfusion Fundraiser Canaan Gets Into Hot Water In October 2018, the China-based mining rig company Canaan filed…

Investors Frantically Rush to Bitcoin, Gold, and Bonds as Coronavirus Fear Spikes

Bitcoin holds above a key support level of $9,000 amidst growing demand for safe-haven assets. The cryptocurrency is eyeing a break above $9,500 to confirm a medium-term bullish bias. Rising cases of Coronavirus in the US has led investors to withdraw from equities this week. Gold and bonds have inched higher, meanwhile. The last couple of weeks saw an intense selling action in both equities and safe-haven markets, including bitcoin. When the US stock indices plunged to their record lows, the market also saw gold and bitcoin heading to lower…

Telegram ICO Investors Included Russian Oligarch and Ex-Minister

Newly released documents relating to Telegram’s 2018 ICO have revealed some big-name backers, including Russian oil tycoon Roman Abramovich and former Minister of Open Government Affairs Mikhail Abyzov. The publication of the documents highlighting some of the big-money backers in Telegram’s planned blockchain, Telegram Open Network (TON), is just the latest development in the US Securities and Exchange Commission (SEC) case against the firm, which claims the messaging app violated securities laws by failing to register its 2018 token sale. The names and the amount that they invested were listed…

This One Headline Just Made Crypto Investors Astronomically Bullish on BTC

Bitcoin and the crypto market haven’t been the only assets falling over the past week or two. This week marked one of the stock markets and commodity market’s worst performances in history, with the S&P 500 and Dow Jones falling by around 12% from their all-time highs established just earlier this month. It was so bad that Thursday marked the Dow Jones’ worst performance in history, when it shed over 1,000 points in a single trading session. JUST IN: Over $6 trillion has been wiped off global stock-markets in the…