Monthly Archives: February 2021

Elon Musk, Bitcoin and the Reddit raiders: 6 things to watch for BTC price this week

A casual vote of confidence from the world’s richest man excites pundits but fails to produce a BTC price pump — could that be about to change? Bitcoin (BTC) starts a new week with $30,000 intact and a message of support from the world’s richest man — what can we expect next? As trading resumes around the world, the largest cryptocurrency is still lacking decisive momentum up or down. Cointelegraph takes a look at five factors which could play a part in shaping Bitcoin price trajectory in […]

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XRP Displaces Polkadot Token After Price Soars 100% in 48 Hours: Token Next Pump Target for Satoshistreetbets Traders

In a surge reminiscent of dogecoin’s recent rally, the value of the XRP token soared by more than 100% in just 48 hours. After starting the day at $0.29 on January 30, data shows that the token peaking at just above $0.67. At the time of writing, XRP is trading at around $0.66   As shown on markets.Bitcoin.com, after this price surge, the market capitalization of XRP went up to almost $28 billion, a figure close to double that of Polkadot. This means XRP has now reclaimed […]

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CEX.IO LOAN Experiences Massive Institutional Demand With Over $100 Million of Loan Requests

PRESS RELEASE. CEX.IO LOAN experiences massive institutional demand for its crypto-backed lending service, with 41% of customers requesting to borrow cash against Bitcoin, 53% against Ethereum, and 6% against DeFi tokens. Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors. According to CEX.IO LOAN, such an increase […]

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Kiss rocker Gene Simmons is bullish on DOGE and XRP

Kiss frontman and a known crypto fan Gene Simmons is bullish on several cryptos including Bitcoin, Ether, XRP and Dogecoin. Gene Simmons, a rock and roll legend and a known fan of cryptocurrencies like Bitcoin (BTC), has reaffirmed his bullish stance on crypto by purchasing several cryptos. The Kiss frontman said on Feb. 1 that he now owns several cryptocurrencies including XRP and Dogecoin (DOGE). Simmons did not hint at how much he invested and noted that his statement is not a recommendation.  Not recommending any of […]

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Elon Musk: Bitcoin is on the verge of seeing broader acceptance by finance

Bitcoin is about to see broader adoption in the traditional finance world, says the world’s richest man. Bitcoin (BTC) is on the verge of seeing broader acceptance, Elon Musk, the CEO of Tesla, said in a Clubhouse conversation on Feb. 1. Clubhouse is an exclusive audio chat social media platform that is invite-only. Members can join various conversations, akin to an online private conference. “I am late to the party but I am a supporter of #Bitcoin.” – Elon Musk — Dan Held (@danheld) February 1, 2021 […]

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NFL Player Gets a Myriad of Celebrities to Add the Bitcoin Hashtag to Their Twitter Profiles

Following the day the Tesla founder, Elon Musk, added the Bitcoin hashtag to his Twitter profile, the popular Carolina Panthers offensive tackle, Russell Okung told his social media followers to put the Bitcoin hashtag in their bio. Okung has managed to get hundreds of people to do it, but more recently the NFL player started a decent train of celebrities with very large Twitter follower counts to join the bandwagon too. Russell Okung: ‘Plant the Flag to Declare You’re Ready for the Future’ Last week, Elon Musk […]

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UBS: Crypto Has Fundamental Flaw, Bitcoin’s Fixed Supply Could Cause Its Value to Collapse

A chief economist at UBS, the largest bank in Switzerland, says cryptocurrency has a fundamental flaw. Bitcoin’s fixed supply could cause the collapse of its value and spending power, making it unattractive to use as a currency, he claims. A UBS Chief Economist Says Bitcoin’s Fixed Supply Is a ‘Fundamental Flaw’ Paul Donovan, Chief Economist of UBS Global Wealth Management, explained last week why people won’t want to use bitcoin as a currency. UBS is the largest bank in Switzerland. “The debate about bitcoin and other crypto […]

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85% Dogecoin rally shows Wall Street Bets aren’t done with DOGE yet

Dogecoin rallied by more than 85%, suggesting Wall Street Bet’s crypto wing may have decided that they weren’t done with DOGE yet. After gaining the spotlight due to a 980% pump on Jan. 28, Dogecoin (DOGE) briefly entered the top 10 ranking by market capitalization for the first time since 2015. Once the massive pump lost momentum and traders quickly took profits, it seemed that investors would move on past the meme-based cryptocurrency and find something else to invest in.  The pump initially started when exchanges prevented […]

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Bitcoin subreddit hits 2M subscribers following GameStop controversy

More than 200,000 Redditors joined the page last week. One of the most well-known online Bitcoin communities passed two million subscribers in a surge of activity on Friday, purportedly due to the media attention over the r/Wallstreetbets subreddit. According to the Metrics For Reddit analytics website, the subreddit r/Bitcoin has 2,184,941 subscribers at the time of publication, making it the 178th most popular subreddit among more than 100,000 active pages. The Bitcoin (BTC) subreddit hit the two million subscriber milestone on Friday, more than 18 months after […]

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US Lawmaker Likes Bitcoin — Urges Policymakers to Embrace Innovation in Regulation

U.S. Representative Patrick McHenry is pro-bitcoin. He is now hosting the Bitcoin whitepaper on his official congressional website and has called on other lawmakers to embrace innovation like Bitcoin. He believes that the cryptocurrency is unstoppable and governments cannot kill it. Pro-Bitcoin US Lawmakers A growing number of U.S. lawmakers have recently spoken in support of Bitcoin. Among them is Congressman Patrick McHenry from the state of North Carolina. On Friday, he talked on CNBC’s Squawk Box about how to approach regulation after last week’s market swings. […]

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