In the past three years the U.S. Securities and Exchange Commission has shot down several applications for a Bitcoin (BTC) exchange-traded fund. This dashed hopes of many investors who believed Bitcoin price would rally higher if an EFT was approved. Although investors no longer pin BTC’s future on the existence of an ETF, regulators could eventually adjust their anti-crypto stance in the future. In an interview with Cointelegraph, SEC Commissioner Hester Peirce said that the regulator will have to become accommodative to innovation as several people from both the crypto space and traditional financial institutions seek their guidance. Bloomberg’s latest …

Payments giant, Square, has become the second listed company after MicroStrategy to buy Bitcoin (BTC). Although Square’s purchase of 4,709 Bitcoin is much smaller than MicroStrategy’s haul of 38,250 Bitcoin, many investors feel that this is a welcome step in the right direction. The acquisition of cryptocurrency by large listed companies such as Square could possibly inspire other companies to join the crypto bandwagon and it also suggests that Bitcoin’s image as an investment vehicle and store of value have improved. The growing interest in cryptocurrency is not going unnoticed as several central banks are attempting to make themselves relevant …

Crypto prices may be in a rut but that doesn’t mean product development and acquisitions cease to occur. This week Japanese financial firm SBI Holdings acquired a 100% stake in TaoTao cryptocurrency exchange. With the latest acquisition, SBI now owns two cryptocurrency trading platforms. This suggests that the financial conglomerate is betting on an increase in cryptocurrency trading in Japan and is positioning itself to benefit from it. While countries like China and South Korea have not fully embraced digital currencies, they are racing ahead in testing the feasibility of a central bank digital currency. The South Korean central bank …

The markets have been relatively dull for the past 2 months as the price of Bitcoin (BTC) has been sustaining between the $10,200-$11,000 range. In recent days, the range has been narrowed even further, leading some traders to forecast a breakout. However, Bitcoin’s price hasn’t been showing any direction, while altcoins have taken a downward slope. The majority of the markets have been in massive corrections and this isn’t a strong signal for the total market. Bitcoin price is stuck in a sideways range BTC/USD 1-day chart. Source: TradingView The Bitcoin daily chart shows the continuation of the range-bound construction …

A recent report by ARK Investment Management LLC presents a strongly bullish case for Bitcoin’s (BTC) future value. The group projects that Bitcoin’s network capitalization will rise to $1-$5 trillion over the next five to ten years. The asset manager argues that Bitcoin offers one of the most attractive risk to reward ratios and should be included in well-diversified portfolios. However, Blockstream CEO Adam Back believes that the estimation is “conservative” and Back suggested that Bitcoin could rally to a “$1 trillion market cap within 2 years” or probably sooner, implying that each Bitcoin will be worth $50,000. Daily cryptocurrency …

Investors are concerned about the stability of the cryptocurrency market after it was faced with a flurry of adverse news in the past few days. Fortunately, the markets have matured to the extent that negative news no longer provokes wild price swings like they once did in crypto’s early days. The current stability shows that institutional investors do not consider the recent KuCoin hack, CFTC and DOJ charges against BitMEX, or even President Donald Trump being diagnosed with coronavirus as serious enough events to crash the crypto markets. Therefore, there was no panic liquidation in Bitcoin (BTC) futures after the …

The shallow pullback in Bitcoin (BTC) following the news of the CFTC’s regulatory crackdown on BitMEX and the late announcement that U.S. President Donald Trump tested positive for coronavirus shows that the underlying sentiment is still bullish. Generally, most damage during such periods of negative news flow is caused by the squaring up of leveraged positions. Data shows that Bitcoin futures volume and open interest has been dropping since hitting the peak in early September. This means that there were fewer long positions that had to be squared up in a hurry and it also may explain why a sharper …

According to data from CryptoQuant, the total amount of Bitcoin (BTC) held in exchange reserves dropped from 2.8 million BTC in October 2019 to 2.4 million. Analysts believe that this steady decline in reserves means retail traders and whales may be accumulating Bitcoin as they expect prices to rise in the future. Even though Bitcoin is still far below its lifetime highs, if it manages to close Q3 2020 above $10,590, that would be the second-best close in any quarter. Data from Skew shows this would only be behind the Q4 2017 closing price at $13,660. All of this suggests …

Over the last few months, DeFi protocols including Yearn.Finance, Compound, Synthetix, and Chainlink have seen their token prices go through the roof, sparking talk that the long-awaited bull market might be here. The DeFi boom is built on Ethereum and propelled ETH’s price rise from $100 in March to $470 in August. However, the DeFi euphoria has been fading in recent weeks, and there is bearishness in the rest of the market too. For the past two weeks, ETH price has been hovering at around $350. And according to CoinMetrics, 72% of the top 250 crypto assets have declined in …

The previous months have given incredible volatility across the boards, including Bitcoin (BTC). However, in recent weeks, the volatility drastically decreased to a state of boredom. The overall momentum and bullishness have left the crypto markets only to be replaced by range-bound sideways movements. In other words, very boring. However, what is the crucial Bitcoin price level to watch for in the coming week? Let’s take a look at the technicals. Bitcoin facing $10,800 as short term breaker for upward continuation BTC/USDT 2-hour chart. Source: TradingView The 2-hour chart is showing a clear downward trending structure. The price of Bitcoin …

Bitcoin (BTC) soared above $10,000 on July 27 and has sustained above this level since then. Data shows that this streak of 63 consecutive days of closes above the $10,000 level is a new record. This also shows that the level has now become a strong support after previously acting as a stiff resistance. Bulls have consistently purchased dips to and below $10K and this psychologically important level may now act as a floor for launching the next leg of the uptrend. Daily cryptocurrency market performance. Source: Coin360 At the moment it seems that the monetary and fiscal stimulus measures …

Over the weekend hackers stole about $150 million in user funds from a number of hot wallets at KuCoin exchange. Previous instances of hacking usually have a negative impact on crypto prices but as the news broke the price of Bitcoin (BTC) and major altcoins hardly budged. In a recent interview with the Human Rights Foundation, Square CEO Jack Dorsey said that “security is not something that can ever be perfected” and it is a constant endeavor to stay ahead of the attackers. Dorsey added that Bitcoin and blockchain are the future where every bit of content will exist forever …