Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000. Data noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys just 0.0352 BTC. XAU/BTC plumbs new depths Since hitting new all-time highs on Wednesday, the price
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Gold bug Peter Schiff has revised his bitcoin prediction after the price of the cryptocurrency exceeded his expectations, reaching an all-time high above the $50K level. He now says, “I must admit that a move up to $100,000 can’t be ruled out.” Nonetheless, the long-term bitcoin skeptic warns that the price can also drop to
A Honda enthusiast has released a YouTube video revealing how he spent a bunch of Bitcoin on two used sports cars. Known on social media as “NSXTRA”, Chris Cut’s Feb. 16 YouTube video titled “Idiot Spends $1.8 Million of Bitcoin on Old Hondas” reveals how much he regrets spending large amounts of Bitcoin at today’s
New York Digital Investment Group, or NYDIG, has submitted paperwork with the United States Securities and Exchange Commission to launch a new Bitcoin exchange-traded fund. NYDIG filed a Form S-1 registration statement for a Bitcoin ETF with the SEC on Tuesday. The submission lists NYDIG Trust Company LLC as the fund’s Bitcoin custodian and Morgan Stanley
Following the Cream Iron Bank flash loan attack, preliminary findings of a probe have shown that contracts and markets still function normally. As a result, markets have now been re-enabled while the asset borrowing function has been paused. The Cream team also reveals that investigations are continuing. The Exploit After the exploit, the value of
The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major futures exchanges, including Binance Futures. However, on spot exchanges, like Coinbase and Binance, the price of Bitcoin rejected closely below $50,000. BTC/USD 1-hour candle chart (Binance Futures). Source: Tradingview Why more upside is likely On Feb. 16, the price of
On-chain analytics provider, Glassnode, has published data revealing that Bitcoin miners are accumulating while long-term investors are taking profits. Despite January seeing heavy selling from miners, Glassnode’s report shows that miner outflows have dried up during February so far. Chart – Glassnode.com The report asserts that miners and longer-term investors are the two principal sellers
A body representing cryptocurrency and blockchain stakeholders in Nigeria has joined other crypto industry players in assailing the recent Central Bank of Nigeria (CBN) directive to banks. The CBN order, which seeks snuff out crypto entities from the banking system, took effect on February 5, 2020. Not Just a Mere Reiteration In a statement, the
A large part of the current crypto bull run has been driven by institutional demand. But for the first time, the institutions may be stepping back. According to CryptoQuant, the Coinbase Premium Index, the difference in Bitcoin’s (BTC) price on Coinbase Pro and Binance, has turned negative, which suggests that pro traders may be taking
Japanese financial conglomerate SBI Holdings is reportedly planning to set up a joint cryptocurrency venture with foreign financial companies. SBI CEO Yoshitaka Kitao said that the Japanese company is in talks with other financial firms to launch a crypto venture, Reuters reports Feb. 15. The executive said that SBI currently has two potential deals. As
Dan Nathan, the founder of Risk Reversal Advisors, says that the U.S. government will not keep allowing corporations like Elon Musk’s Tesla to replace dollars with bitcoin. They won’t “let the dollar fall away from being the reserve currency for the world,” which could happen if corporations keep replacing dollars in their balance sheets with
Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least, in the short term. The Coinbase Premium Index, which measures the gap between the BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In
Altcoins plunged steeply on Feb. 14 after the price of Bitcoin (BTC) achieved a new all-time high above $49,000. The timing of the altcoin market’s drop was noteworthy because it corrected as BTC was rallying, which typically does not happen. So why exactly did altcoins crash? There are two main reasons why the altcoin market
In recent days, bitcoin cash has seen significant gains, and supporters of the digital currency have been positive about specific developments, like the internet entrepreneur Kim Dotcom’s current support. On February 11, the Chinese New Year, the prominent bitcoin mining executives, Jiang Zhuoer and Jihan Wu joined a Satoshi’s Angels discussion channel and spoke favorably
The price of Bitcoin (BTC) achieved a new record above $49,000 on Valentine’s Day on Feb. 14, rising to as high as $49,344 on Coinbase. There are three main reasons Bitcoin surged to a new all-time high, namel high stablecoin inflows, clean break of the $38,000 resistance area, and a prolonged consolidation phase. BTC/USD 4-hour
Institutional investors are rapidly gobbling up Bitcoin, and at the time of writing, nearly 3% of the Bitcoin (BTC) in circulation are locked up in long-term holdings by these investors. Data shows that 24 entities have amassed more than 460,500 BTC, which is equivalent to $22 billion at Bitcoin’s current price. According to Michael Novogratz,
