Market pundits have for years advised retail investors to follow the ‘smart money’ if they want exposure to promising investments. In most cases, this smart money is institutional investments and market whales. But there is another kind of smart money, that from wealthy and highly educated investors. A new report by the Bank for International Settlements (BIS) says that there are two large-cap coins that these investors are buying over Bitcoin. Unsurprisingly, the largest altcoin, Ethereum, is one of them. XRP was identified as the other cryptocurrency that was prefered by the wealthy and educated investors.

With this report, the international financial institution owned by central banks has looked into the behaviour of ... Read more »

Category: News | Views: 176 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)

Bitcoin was back above $34,000 at press time and the week, on the whole, has looked majorly bullish. Yet, in the past, we have witnessed instances where a price breakout has been a false alarm, with the price declining further in the charts a few days later.

Keeping that in mind, according to Santiment, a bullish divergence was observed between Active Addresses and the price.

1. Understanding the importance of Price Divergence

Speaking about Bitcoin Price-Daily Active Addresses Divergence, it is a relationship model between the coin’s performance and the number of daily addresses interacting with the coin during that period of time. A buy signal is indicated when DAA begins to increase while the price has picke ... Read more »

Category: News | Views: 141 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)

As China continues to intensify its crackdown on Bitcoin mining, Republican Senator Cynthia Lummis has asked BTC miners to relocate to her state of Wyoming.

PS - If you are in the #Bitcoin mining space, please reach out. We WANT you in Wyoming.
— Cynthia Lummis (@CynthiaMLummis) July 3, 2021

The pro-Bitcoin Senator voiced her approval over the ability of Bitcoin mining to utilize about 40% renewable energy sources, whereas traditional mining options use just 12%.

While speaking to CNBC, Lummis touted the flagship cryptocurrency as a remarkable invention that has encouraged a lot of innovation. Therefore, it should be adopted. She used El Salvador as a case study, noting that the mo ... Read more »

Category: News | Views: 135 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)

In a July 3 interview with NorthmanTrader’s Sven Henrich, MicroStrategy CEO Michael Saylor drew parallels between buying Dogecoin and playing Russian roulette in Las Vegas:    

I’m gonna buy Dogecoin before Elon Musk goes on Saturday Night Live. I’m gonna go to Vegas and I’m going to bet on black.

That said, the billionaire believes that it’s not unethical to gamble on meme stocks or meme cryptocurrencies as long as you don’t impoverish your family:

We shouldn’t tell adults they can’t. If they wanna gamble on sports outcomes or if they wanna gamble in Vegas, or if they wanna gamble on a meme…As long it’s in your gambling bucket and you’re no ... Read more »

Category: News | Views: 173 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)

This weekend, the price of Bitcoin is making its way upwards to $34,500, but this has been on the back of even lower volume than the declining trend, given that it's Saturday.

Bloomberg is currently looking at a key trendline that acted as a support for BTC price but is now struggling to break above. This flip, according to them, would be a bearish outlook unless prices can retake the barrier.

Originating at the March 2020 crash, the trendline acted as support as recently as May, when the cryptocurrency fell to about $30k. But to trader CL of eGirl Capital,

“The way ppl are positioned make me feels like we'll never break sub 30k in a meaningful way (as in nuke to mid 20 and remain there).”

Meanwhile, despite the leading cryptocurrency still down about 48% from its all-time high in April, it is s ... Read more »

Category: News | Views: 142 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)

Bitcoin, the largest cryptocurrency by market capitalization, reclaimed the $35,000 level at 5:45 a.m. UTC on the Bitstamp exchange.  

The flagship coin is now on track to score its third day in the green despite July starting on a cold note with a drop to the mid-$32,000 level.      

Over the period from 2015 to 2018, Bitcoin had managed to score four consecutive years of price gains on July 4.   

It broke the streak in 2019, plunging by over 6.5 percent.         

In 2020, however, the largest cryptocurrency was back in the green with a modest 0.92 percent price spike on Independence Day.   

Bitcoin records its biggest difficulty drop ... Read more »

Category: News | Views: 153 | Added by: danyagames2007 | Date: 04.07.2021 | Comments (0)