Bitcoin

Bitcoin Hits New All-Time High Above $35,500, SkyBridge Founder Says “Buy and Hold”

January 6th, 2021

Bitcoin (BTC) continues to make a bold move northwards hitting a new all-time high above $35,500 levels. At press time, BTC is trading 15% up at $35.320 with a market cap of $657 billion. As per analysts Ki-Young Ju, this BTC price rally is because of institutional as well as retail participation. Over the last…

The Reported Number of Stolen BTC Drops by 92 percent as ‘Bitcoin Security Appears to Be Improving’

January 6th, 2021

The number of stolen bitcoins that were publicly reported in 2020 dropped to 4,472 coins or 0.02% of the digital asset’s circulating supply. This new figure represents a 92% drop from the 56,870 reported in 2019. When using current bitcoin prices, the 2020 thefts caused losses that are equivalent to $140 million versus the 2019…

Bitcoin price poised for an 11 percent dump to $30,000 before the rally to new all-time high resumes

January 6th, 2021

Bitcoin has managed to recover from the recent 20% dump from the new all-time high at $34,807 to $27,681. The flagship cryptocurrency continues to outperform other digital assets. At the time of writing, BTC is teetering at $33,950. On the upside, Bitcoin is facing resistance at a weekly high established at $34,511. The Relative Strength…

The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases

January 5th, 2021

The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means…

BTC-to-Gold Ratio Hits New High, JPMorgan Predicts $146,000 Bitcoin Price Target for Long Term

January 5th, 2021

The Bitcoin (BTC) price rally over the last weekend pushed the world’s largest cryptocurrency to a new all-time high above $34,000. In a year’s time, the BTC price has literally quadrupled driven by massive institutional interest. Interestingly, the recent Bitcoin price rally has further extended the cryptocurrency’s dominance on Gold. As per the recent Bloomberg…

Cannabis Dealer Forfeits $3 Million in Bitcoin — 6,000 More BTC Still Missing

January 4th, 2021

A cannabis dealer has forfeited bitcoins worth about $3 million after they were seized by the Irish Criminal Assets Bureau. However, a bigger stash of 6,000 bitcoins belonging to him, worth about $200 million at the current price, are still inaccessible to the bureau. Irish Authority Sold Seized Bitcoin Cannabis dealer Clifton Collins has forfeited…

Miami’s Mayor Considers Putting Some of City’s Treasury Reserves in Bitcoin

January 4th, 2021

Miami Mayor Francis Suarez is exploring putting a percentage of his city’s treasury reserves in bitcoin. Miami is currently working on accepting the cryptocurrency as a means of payment for city services and taxes. The mayor believes that “Bitcoin has been a stable investment during an incredibly unstable year.” Miami Could Invest Some of City’s…

Bitcoin At $34,000, Average Trader Returns At Historic High Levels

January 3rd, 2021

Bitcoin (BTC) is hitting new highs almost every few hours! In less than 24 hours of crossing $30,000 levels, the BTC price has surged another 13% to hit a new all-time high of $34,000. Several on-chain indicators are suggesting that Bitcoin (BTC) fundamentals continue to get stronger with every passing day. Bitcoin’s daily trading volumes…

While Bitcoin Tapped New Price Highs, 78,000 Short Positions Worth Over $800 Million Got Liquidated

January 2nd, 2021

While bitcoin has crossed a new all-time price high in 2021, traders are leery toward shorting the crypto asset. Data from Bitfinex shows the number of short contracts has been extremely low in comparison to the total number of shorts in mid-March 2020. On Saturday, January 2, 2021, when the price of bitcoin surpassed $33k,…

BTC to Gold Exchange Rate Surges to New All Time High of 17 Ounces per Bitcoin

January 2nd, 2021

Bitcoin’s record-breaking rally is continuing into the new year with the bitcoin to gold exchange rate touching a new all-time high of 17.38 ounces per bitcoin. According to data from Marketwatch, the new high easily surpasses the all-time high recorded on January 01, 2021, of 10.74 ounces per coin. The new milestone comes as the…