I’ll make this one quick, because it’s pretty straightforward.

If bitcoin doesn’t rally if and when stocks are under pressure due to inflationary worries (i.e., now), it will likely set off an excruciating downtrend as king crypto’s mythos unravels and people come to terms with what it’s likely been about all along: selling to the next guy.

A lot of people have infamously written “bitcoin is dead” articles. Not me. I’ve written about why most people don't need bitcoin, about why the evidence is overwhelming that bitcoin trades as a speculative asset, but I’ve always left room for the possibility of the seemingly impossible: that bitcoin will one day make a miraculous metamorphosis from a get-rich-quick trade to an inflationary hedge.

Evidence such a day will come is ... Read more »

Category: News | Views: 227 | Added by: danyagames2007 | Date: 11.05.2021 | Comments (0)

Bitcoin (BTC) could see a price drop to as low as $40,000 if higher support levels fail to hold, an industry CEO says.

Speaking to Bloomberg on May 11, Pankaj Balani, the CEO of digital asset derivatives exchange Delta Exchange, warned that there is a danger of fresh significant losses for BTC/USD.

Balani doubts altcoins' resilience to BTC dip

Bitcoin shed around 5% overnight on Monday, the latest in a familiar cycle of dips and rebounds below crucial resistance which begins at around $59,500.

At the time of writing, the largest cryptocurrency traded at just above $55,000.

For Balani, $50,000 now forms a significant line in the sand for bulls, and a failure to hold it would open up a new lower trading corridor with a floor at $40,000.

Cryptocurrencies in general, he added, "should move lowe ... Read more »

Category: News | Views: 193 | Added by: danyagames2007 | Date: 11.05.2021 | Comments (0)

Cboe Global Markets has become the exchange partner to list the Fidelity Bitcoin exchange-traded fund in the United States, giving a push to the already submitted application with the US financial market regulator.

Cboe BZX Exchange filed a 19b-4 form with the Securities and Exchange Commission (SEC) on Monday. This acknowledges the support of the exchange for the Bitcoin ETF, which is a mandatory requirement.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

Wise Origin, which is a fund affiliated with the investment giant Fidelity, first filed an application in March with the SEC seeking approval for the Bitcoin ETF. The latest form 19b-4 filing has completed the application proces ... Read more »

Category: News | Views: 162 | Added by: danyagames2007 | Date: 11.05.2021 | Comments (0)

The rise of bitcoin in popularity and value continues to cast the spotlight on the asset over its potential. However, there is always a lingering question on how much electricity the cryptocurrency consumes and how it fares with other entities.

Data acquired by Finbold indicates that bitcoin’s estimated annual consumption of 143 TWh as of May 5, 2021, is at least eight times higher than Facebook and Google’s combined consumption of 17 TWh. The social network consumption stands at 12TwH while Google’s annual energy usage is at 5 TWh. 

Compared to specific countries’ annual electricity consumption, bitcoin trails China’s 6,453 TWh by at least 45 times. Furthermore, bitcoin’s consumption ... Read more »

Category: News | Views: 176 | Added by: danyagames2007 | Date: 11.05.2021 | Comments (0)