The cryptocurrency market has been volatile in the past few months, fueled by both institutional adoption and retail speculation.
Of the total number of participants, 43% agreed that long Bitcoin is currently the most crowded trade. Further, 75% of participants believe that Bitcoin is a bubble. Just less than 15% of fund managers say that BTC will outperform the market in 2021.
Some countries have pretty tight regulations, for example, when you buy Bitcoin in Singapore it can take up to 7 days due to their restrictions around cryptocurrency exchanges.
All proceeds from the initiative will be donated to the Human Rights Foundation Bitcoin Fund.
Immediately after Reuters released the news about China banning crypto activity, many started criticizing the news agency for misleading its readers.
As noted by Michael Saylor, the total BTC holdings by the firm were acquired for approximately $2.251 billion, at an average price of $24,450.
One of the key justifications for the bet is that Tesla’s dependence on government-issued regulatory credits is unsustainable due to the growing competition in the electric vehicle niche.
Bitcoin has been showing weakness as per key on-chain metrics with Monday’s price crash. Market analysts chart some crucial support levels and expect BTC to remain under pressure over the next month.
On a long-term basis, Coinbase stock remains bullish supported by an upward call for the cryptocurrency industry by several Wall Street analysts.
In response to the energy use claims by Elon Musk, crypto investor and advocate Peter McCormack shared a Twitter thread explaininyg wh he considers that Elon Musk is uninformed in many Bitcoin-related aspects.
The upcoming Taproot Bitcoin upgrade was proposed to enhance the network scripting capabilities and also the privacy aspect.
Galaxy Digital estimated that Bitcoin’s total annual electricity consumption is 133.89 TWh/yr.
Whiles Mr. Kiyosaki’s opinions have been met with diverse reactions, the United States Labor Department has announced that the Inflation rate in the country has shot up the fastest rate since 2008
The price of ICP is down. While Bitcoin is leading the market correction, the top altcoins including Ethereum (ETH) have also been dragged into the nosediving market.
As for the exact market capitalization, Bitcoin has tanked from over $1 trillion a few weeks ago to around $840 billion.