Category Archives: Bitcoin

Robinhood-Fueled Rally Stalls, Bitcoin in Red

Cryptocurrency prices went south on Monday after Japan’s Financial Services Agency (FSA) announced that it may conduct on-site inspections of domestic cryptocurrency exchanges in response to Coincheck’s $530 million hack. The Bitcoin price led the retreat with a five percent decline, and most other top-tier coins followed suit.

As a rule, Japan has been very welcoming to the nascent cryptocurrency industry, and favorable regulatory policies have enabled the country to become one of the ecosystem’s central hubs.

Reference: https://www.ccn.com/bitcoin-price-slips-into-the-red-as-robinhood-fueled-rally-stalls/

UK Bitcoin Traders Robbed

According to a report in The Mail on Sunday, four men wearing balaclavas kicked down the couple’s door and took the couple’s baby outside while they forced Aston and Jay to transfer their cryptocurrency holdings. Aston, 30, had reportedly executed more than 100,000 trades under the pseudonym “Goldiath,” and he and Jay, 31, jointly owned Aston Digital Currencies, a company they operated out of their home. “No one was seriously injured during the incident,” the publication cites a Thames Valley Police spokesman as saying.

Reference: https://www.ccn.com/uk-bitcoin-traders-robbed-gunpoint/

Unlocking bitcoin’s next rally is to observe Google search

Colas is not the first analyst to make the connection, with ARK Invest’s Chris Burniske previously pointing to a BTC/USD exchange rate that clearly reflected Google search trends. Burniske referred to it as “a virtuous Satoshi cycle,” evidence for which traces back to at least August 2017. Incidentally, today, a Google search of “bitcoin” yielded me 341 million results.

Fewer people have been searching bitcoin, and that waning interest is being reflected in the bitcoin price, which is currently trading in the $10,000 – $12,000 range compared to nearly a $20,000 bitcoin price in December. Colas concludes that interest levels as determined by Google searches show definite support for bitcoin’s “breakouts” and “pullbacks.”

Reference: https://www.ccn.com/the-google-effect-and-bitcoin-parallels-persist/

Deutsche Bank Analysts

Analysts at Deutsche Bank released a note to clients on Friday, Jan. 19 stating that there is a growing correlation between the price of Bitcoin (BTC) and the CBOE Volatility Index (VIX), also known as Wall Street’s “Fear Index.”

Masao Muraki, a global financial strategist at Deutsche Bank, along with two colleagues Hiroshi Torii and Tao Xu, wrote in the note that a lack of fluctuation and volatility in the stock market is leading investors to look elsewhere to make money.

 

BTC is currently trading at an average of $11,834, down 1.02 percent over the 24 hours to press time.

Reference: https://cointelegraph.com/news/deutsche-bank-analysts-low-volatility-on-wall-street-brings-investors-to-crypto

50 Cent Makes Millions Selling Album For Bitcoin

Curtis “50 Cent” Jackson made a lot of money by being an early believer in Bitcoin, TMZ.com reported on Tuesday. After giving the cryptocurrency a chance 4 years ago, he is now reaping the benefits which amount to over $7 mln, according to current exchange rates.

The rapper is reported to have kept all of his bitcoins without selling them for years until 2018. During that time the cryptocurrency has grown immensely — with the current price set at around $11,000, Jackson’s 700 coins are now worth more than $7 mln.

Reference: https://cointelegraph.com/news/50-cent-makes-millions-selling-album-for-bitcoin