Bitcoin
Musk and Saylor Catch Flak for Bitcoin Mining Council Gambit
What were they thinking? When billionaires Elon Musk and Michael Saylor met behind closed doors with some of North America’s biggest Bitcoin miners on May 24 they were asking for trouble. The two Bitcoin champions were certainly confronting a big problem: In recent weeks the long simmering concerns about the soaring amount of power consumed…
It’s a Most Welcome Rally, but is It Just a Dead-Cat Bounce?
After 14 days of mayhem in the crypto markets, DeFi investors have stopped hyperventilating. Yes, it’s true that Ether lost more than half its value in the last two weeks, hitting $1,853 on May 23. That’s a pretty heavy drop even in the wild and woolly world of crypto. Then it jumped 40% to $2,591…
Crypto Market Downturn Mostly Shakes Out Short-Term Bitcoin Traders
It’s been a rough week for the crypto market̶ and it appears to be at the hands of “n00bs.” Ethereum’s ETH is down 15% from its all-time high of $4,356 on May 12, trading just above $3,300 at the time of writing. And Bitcoin has been hit especially hard with a 25% loss over the…
Bitcoin's “Kimchi Premium” Just Blew Up to the Highest Since 2018
The so-called “Kimchi Premium,” the difference between Bitcoin’s price on South Korean exchanges versus the international price spiked to 23% before dropping to roughly 14% at the time of writing. This meant that BTC traded for almost $70K on Apr. 5 in South Korea, while the price was around $58K internationally. The 23% peak is…
Record Bitcoin Options Expiring Putting Presssure on Price
The highest amount of Bitcoin options ever is set to expire this Friday, which might put some temporary selling pressure on the largest cryptocurrency. $5.5B in options contracts come due tomorrow, according to derivatives data platform Bybt. Options are investment contracts which give traders the right but not the obligation to sell or buy a…
Mark Cuban: "ETH Has an Advantage Over BTC as a Store of Value"
In this week’s episode, we speak with Mark Cuban, Dallas Mavericks owner, billionaire investor and Shark Tank star. It’s been hard to pin down if Cuban is a crypto skeptic or believer. He has questioned the value of bitcoin and called its price surges a bubble, but he has also accepted crypto payments for his basketball…
Bitcoin "Double-Spend" Is Just Sensationalism
When following news stories in a fast-paced space like crypto, it’s best not to jump to conclusions. After Bitcoin’s price spiraled down 12% on the morning of Jan. 21, many crypto community members pointed to BitMEX Research’s recent Twitter thread regarding a potential “double-spend” picked up by their ForkMonitor. Hypothetically, a confirmed case of double-spend,…
Total Bitcoin Locked in DeFi Nears Record High
The total value of Bitcoin locked in DeFi is rebounding from a three-month low to the highest since November, when BTC in decentralized finance protocols was at its all-time high of 154K BTC, according to data by DeFi Pulse. BTC in DeFi protocols has climbed by 17K BTC since the Jan. 3 low, to ~153K…
BTC & ETH Massively Outperform Crypto Hedge Funds in 2020
Sometimes “HODL” really is the best advice. Simply holding Bitcoin and Ether massively outperformed crypto hedge funds (along with the vast majority of non-crypto assets) in 2020. BTC kicked off 2020 at just under $3,700 and reached almost $19,400 by the end of November, a 425% increase. ETH started the year at around $130 and…
Bitcoin Corrects as ETH Locked in DeFi Rebounds
After a week of record volumes for 2020, bitcoin’s price dropped on decreasing trading volumes. Meanwhile, assets locked in DeFi are recovering since the November dip – said to be due to the Ethereum 2.0 network upgrade. Bitcoin is trading around $22,770 (Bitfinex) at the time of writing, reclaiming some of the losses from the…
