Monthly Archives: February 2021

Bitcoin falls to $45K in sequel to 20% BTC price crash

A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus. Bitcoin (BTC) extended its losses on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week.  BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Fresh dive takes BTC/USD to 8-day lows Data from Cointelegraph Markets and TradingView painted a gloomy picture for bulls on Tuesday as BTC/USD hit lows of $45,000 on Bitstamp.  The losses reverse a rebound that halted Monday’s 20% price […]

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Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk — watch out

The Microsoft founder thinks anyone with less money than the world’s richest man should “watch out” when it comes to Bitcoin. Microsoft founder Bill Gates has issued a warning to would-be Bitcoin (BTC) buyers looking to follow Elon Musk’s investment strategy. Speaking to Bloomberg’s Emily Chang, Gates suggested Musk had access to sophisticated trade management techniques that the average investor isn’t privy to. When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet (undoubtedly a reference to Elon Musk’s own […]

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Thailand Authorities Are Targeting Japanese Crypto Holders to Boost Tourism

Thailand seems to be interested in catching Japanese crypto holders’ attention via tourism. The country wants to establish a crypto-friendly touristic hotspot and the first targeted country is the nation of the rising sun. Program Aims to Add New Segments With ‘High Spending’ Per Bangkok Post, the Tourism Authority of Thailand (TAT) seeks to put the nation as the first to welcome crypto holders by targeting Japanese tourists in the early stage. The maneuver is given in the context of the pandemic that hit hard Thai’s tourism. […]

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Bank of Korea chief says crypto has no intrinsic value, expects volatility

Bank of Korea Governor Lee Ju-yeol has expressed skepticism over the recent crypto rally, stating that the bank is progressing with a digital currency project. Amid a major downward correction in the cryptocurrency market, the head of South Korea’s central bank is skeptical about digital currencies like Bitcoin (BTC). Bank of Korea Governor Lee Ju-yeol said that crypto assets like Bitcoin have no intrinsic value, local news agency Yonhap reports Tuesday. The official said that he expects more price swings on the market, stating, “It is very […]

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Whale who sold Bitcoin before 2020 crash cashed out $156M before this week’s 20% dip

A serial seller with a lot of BTC to their name chose to divest themselves of a large chunk of Bitcoin just before Monday’s crash to $47,400. Bitcoin (BTC) lost 20% in a day partly thanks to the actions of a single whale, new research suggests.  Data from on-chain analytics firm Santiment on Feb. 23 showed that BTC/USD dipped to $47,400 after Bitcoin’s second-largest transaction of 2021 took place. Ghost of Bitcoin sell-offs past returns The transaction, 2,700 BTC worth $156.6 million at $58,000 per token, resulted […]

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Speechwriter for Former US President George Bush Says BTC Rally Driven by ‘Historically Low Interest Rates’

A speechwriter for former U.S. President George W. Bush and a bitcoin critic, David Frum has claimed that the low-interest rates are fueling the crypto asset’s rally. Frum suggests that the crypto asset might experience a “fast and deep price crash” if and when interest rates start to rise. Institutional Interest in BTC In comments made via Twitter, Frum, who regurgitates the BTC mining inefficiency claims, also attacks the crypto asset’s store of the value proposition. He states that of “all the pro-bitcoin arguments, surely the worst […]

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Solana-powered AMM Raydium proposes SushiSwap integration to reduce fees

SushiSwap is exploring integrating with high-speed AMM, Raydium, on Solana to alleviate high gas fees. Major decentralized exchange SushiSwap is the latest to consider action to mitigate Ethereum’s extreme transaction fees, and it involves a potential port to the Solana blockchain. A proposal, which was posted to the SushiSwap forum on Feb. 22 under the codename ‘Bonsai,’ suggests building out the platform on the Solana ecosystem. The integration is intended to mitigate Ethereum’s skyrocketing transaction fees, which have spiked to new all-time highs over the past 24 hours. […]

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PTERIA to Mars Celebrates a New All Time High

PRESS RELEASE. While Bitcoin and the greatest part of altcoins are going down, Pteria DAO’s token PTERIA could not be outdone and is currently on Mars, exceeding $40. The moon is now too close, so Mars is the real new all time high to reach. However, the token, listed for the first time on decentralized exchanges such as Uniswap and Balancer just a few months ago, today marks its all time high and is now worth over $40, as you can see on Coinmarketcap or Coingecko. Recently […]

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New report predicts NFTs will explode in popularity during 2021

NFTs are pumping right now, with a new report identifying more NFT sales in the last 24 hours than during the entirety of 2020. Canadian-based analytics company NonFungible has released a report predicting that 2021 is poised for “a new Bull Market in the NFT industry.” Although NFTs have been around since ERC-721 was invented by William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs in January 2018, the sector largely remained an obscurity outside of hardcore crypto circles until the latter part of 2020. The second […]

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$24 million lost in second-largest day of DeFi liquidations

The Feb. 22 crypto market flash-crash liquidated more than $24 million worth of DeFi loans. with Compound users representing more than half of the margin calls. The Feb. 22 crypto crash has sparked the second-largest volume of DeFi liquidations in the sector’s history, with more than $24.1 million worth of loans being forcefully closed within 24 hours. According to crypto data aggregator DeBank, $13.7 million, or nearly 60% of the losses occurred on Compound, followed by Aave with $5.4 million worth of liquidations. Yesterday’s liquidations were the […]

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