Bitcoin’s (BTC) current bear market is one of the worst, according to a report by on-chain analytics firm Glassnode. This was the first time in history that the Mayer Multiple slipped below the previous cycle’s low. Bitcoin’s fall below $20,000 on June 18 also marked the biggest ever loss booked by investors in a single
Bear markets have historically been challenging to navigate for traders and the conventional set of “reliable” indicators that determine good entry points are unable to predict how long a crypto winter might last. Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was
Faustin-Archange Touadéra, president of the Central African Republic, has announced the government will be backing an initiative centered around developing the country’s blockchain infrastructure. In a Monday announcement on Twitter, Touadéra said the CAR government would be launching Sango, a crypto initiative proposed following the country’s adoption of Bitcoin (BTC) as legal tender in April.
Ethereum fees had touched new highs thanks to the popularity of the decentralized finance (DeFi) space. As network activity had grown, so had the transaction volumes. The effects continue to linger even into the bear market, although fluctuations between low and high are now more common in the space. Presently, transaction volumes have fallen sharply
Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market. 79% chances DOGE will extend its rebound move DOGE’s price appears to have been painting a “bump-and-run-reversal (BARR) bottom” since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful
The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62. On June 27, LUNA2’s rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30.
Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a “Ponzi scheme.” Yifan He, CEO of Red Date Technology, a major tech firm involved in the development of China’s major blockchain project, the Blockchain Service Network (BSN), has penned
Bitcoin (BTC) sold off into the June 27 Wall Street open as United States equities fell. $25,000 eyed as bulls’ line in the sand Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following stock markets downhill as the last week of June began. At the time of writing, the pair traded below $21,000, having hit
XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol. Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the
Cointelegraph’s managing editor Alex Cohen interviewed Figment’s staking marketing director Robert Ellison at the European Blockchain Convention (EBC) 2022. The duo discussed topics like educating regulators on blockchain and crypto, how businesses navigate uncertain regulatory landscapes and regulating staking. According to Ellision, it’s very important to educate regulators in the space to mitigate the risks
DOGE was trading higher on Monday, as prices rose to their highest level in almost 20 days. TRX was also in the green to start the week, as prices continued to climb, following a recent streak of bullish momentum. Dogecoin (DOGE) DOGE was a notable mover during today’s session, as prices rose to their highest
Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin traders are underwater and continue to sell at a loss, according to Glassnode. Blockchain analysis firm Glassnode’s June 24 report titled A Bear of Historic Proportions outlines how Bitcoin’s current dip below the 200-day moving average (MA), negative deviation
Bitcoin (BTC) starts a new week above $20,000 but heading for a new bearish record as a key support level remains out of reach. After a calm weekend punctuated by a brief spike to near $22,000, BTC/USD is back near the Friday closing price of CME futures markets. A “round trip” thus allows traders to
The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on June
The United States equities markets witnessed a sharp comeback last week, led by the Nasdaq Composite which gained 7.5%. The S&P was up about 6.5% for the week while the Dow Jones Industrial Average managed a gain of 5.4%. Continuing its tight correlation with the equities market, the crypto markets are also attempting a relief
Alameda Research is a cryptocurrency trading firm and liquidity provider founded by crypto billionaire Sam Bankman-Fried (SBF). Before founding his firm in 2017, SBF spent three years as a trader at the quantitative proprietary trading giant Jane Street Capital, which specializes in equity and bonds. In 2019, SBF founded the crypto derivatives and exchange FTX,
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reportedly proposed “one rule book” for the regulation of crypto assets. “If this industry is going to take any path forward, it will build some better trust in these markets,” said Gensler. SEC Chairman Calls for One Rule Book for Crypto SEC
Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week. “Unusual whale activity” flagged Data from Cointelegraph Markets Pro and TradingView followed the largest cryptocurrency as it hit $21,868 on Bitstamp. Just hours from the weekly close, a reversal then set in under
Uniswap is once again hogging the headlines following the token’s comeback in the wake of optimistic signs that the bear market may be winding down. In the past week, UNI, its native token, has seen enormous growth, as the decentralized exchange’s trading volumes have rivaled those of Ethereum, the blockchain on which it is constructed.
Various prominent Bitcoin experts, including Adam Back, Jimmy Song and Andreas Antonopoulos, have raised some concerns over the implementation of restrictive covenants, in particular with the BIP119. In particular, Antonopoulos has voiced concerns over “recursive covenants” that the new update could convey, thereby deteriorating the network. A recursive covenant occurs when a programmer restricts a