Monthly Archives: May 2020

$270M in Longs Liquidated as Pre-Halving Hype Backfires

98% of liquidations on BitMEX yesterday were long positions, indicating over-exuberant pre-halving bullishness at $10,000. Yesterday’s sudden crash saw the price of Bitcoin (BTC) fall 14% from roughly $9,450 to $8,101 in less than 15 minutes. This appears to have shaken out over-exuberant margin traders who longed near $10,000 on heavy margin. According to market data aggregator, Cryptometer, over $295 million worth liquidations occurred on BitMEX alone — 98% of which were long positions. By contrast, liquidated shorts totaled $5.7 million. $290M liquidated on BitMEX in 24 […]

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Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish

While the fear and uncertainty surrounding BTC has decreased quite substantially before the upcoming halving, experts have noted that the greed aspect of the F&G Index has increased greatly over the past couple of days. With Bitcoin’s (BTC) third mining rewards halving just over 24 hours away, mainstream market hype surrounding the event has grown exponentially, especially after balancing on the $10K threshold for some time. On May 9, BTC dropped to the $8,100 mark before making a small recovery to around $8,800. Nevertheless, the fact that […]

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Bitcoin Tests $10,000, ‘Halving Dump,’ $1M BTC Predicted: Hodler’s Digest, May 4–10

Bitcoin suffers a “halving dumpâ€� after testing $10,000, what the event means for miners, and the latest predictions of where prices will be in 2021 and beyond. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Three reasons for the Bitcoin “halving dump” from $10,000 to $8,100 We’re less than 48 […]

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Bitcoin Miners Sell BTC Months After Halving, On-Chain Data Suggests

On-chain data suggests that a strong selloff may not necessarily follow the upcoming Bitcoin halving. Bitcoin’s third halving is less than a day away and the cryptocurrency community remains divided on whether the price will rise or drop after the event. Interestingly, on-chain data from previous halvings suggests that after the halving Bitcoin price may not see an immediate drop. Google Trends data shows that searches for the halving have already surpassed previous all-time highs, and the crypto community has been issuing a variety of price estimates […]

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Jenny Ta on Transitioning From Wall Street to Crypto

Serial entrepreneur Jenny Ta shared insights into her transition from Wall Street to crypto. In an exclusive interview with Cointelegraph, Jenny Ta, the former CEO of multiple investment firms and founder and chief executive of crypto-powered social marketplace, CoinLinked, discussed her journey transitioning from Wall Street to the decentralized economy. The serial entrepreneur and self-made millionaire emphasized the challenges of seeking sound legal advice for an emerging sector that is subject to rapidly evolving regulation. However, Ta predicts the increasing maturation of blockchain regulation will drive widespread […]

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Bank of England Predicts Worst Economic Crash in 300 Years for UK

The Bank of England has predicted the worst economic crash since the Great Frost of 1709. Economists are less optimistic than the central bank about the rate of recovery for the UK economy. “Current conditions are unprecedented in our lifetime and all forecasters are struggling to make out where the economy stands now,” one economist described. Worst Recession in Over 300 Years The Bank of England (BOE) has forecasted a devastatingly bleak outlook for the U.K. economy in its most recent monetary policy report published on Thursday […]

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Celsius Targets New Users With Tokenized Gold and Commodities

Alex Mashinsky revealed Celsius plans to list more tokenized commodities after launching support for Tether gold last week. In an exclusive interview with Cointelegraph, Alex Mashinsky, the chief executive of pioneering decentralized finance, or DeFi, platform Celsius, and an inventor of the voice-over-internet-protocol, or VOIP, discussed the platform’s recent introduction of support for Tether Gold, or XAUT. Mashinksy described its support for tokenized gold as offering a bridge for users from the fiat currency into non-correlated and decentralized assets. Celsius creates history with gold support “For the […]

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Halving Hype Drives Second-Strongest Spot Volume on Record

The run-up to Bitcoin’s halving has driven near-record volumes, with April 30 posting the second-largest daily trade on record. Pre-halving speculation has driven historic volumes of crypto trade, with April 30 producing the second-strongest single day for volume on record according to a report published by market data aggregator, CryptoCompare. Notional volume for BTC options on Chicago Mercantile Exchange, or CME, also tagged a new record in recent days, with 202 contracts changing hands on May 5. April 30 posts historic volume $66.2 billion worth of crypto […]

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Dynastycoin (DCY) is Another RandomX Crypto Project

Dynastycoin (DCY) is another crypto project that has forked to RandomX, initially started a couple of years ago and targeted towards Italian crypto users. Originally a CryptoNight coin when project was conceived, Dynastycoin (DCY) has apparently forked to RandomX near the end of last year around the time Monero has switched to the new algorithm as well. The fact that the project has been targeted towards a specific user base has resulted in limited popularity among non-Italian users. One of the reasons that we have discovered the […]

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Bitcoin Halving Is Almost Here: Will Bitcoin Go to the Moon?

Positive signs for Bitcoin have been increasing in different spaces, and the bullish trend seems to be more and more realistic. This is not the first time an event called halving has happened on the Bitcoin (BTC) network. The first halving took place in 2012; the second halving took place in 2016. Now, the third halving is expected, and like the previous ones, it will halve the reward for the calculated Bitcoin block. Originally, the reward for the calculated block was 50 BTC. Since then, the reward […]

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