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Trade volumes are booming on primary and secondary Bitcoin exchanges as Google searches for the number-one crypto skyrocket, indicating that to some degree a panic-induced flight to BTC may be in its early stages after the global economy’s recent capitulation.
Today was one of the worst single-day trading sessions the United States stock market has ever seen, with the benchmark indices erasing all of the gains that were incurred during the rally seen last Friday afternoon.
The global market meltdown seen throughout the past few weeks has shown no signs of slowing down anytime soon, and Bitcoin has been firmly exposed to the implications of this – plummeting significantly from its 2020 highs of $10,500.
Bitcoin’s price struggle was further exacerbated last week when the coin plunged to $3,700 on BitMEX and caused almost $1.2 billion in long contracts to be liquidated on the platform.
BitMEX, one of the largest cryptocurrency futures exchanges in terms of daily volume, has fallen behind OKEx, FTX, Deribit, Huobi, and Bybit in Ethereum open interest after the overnight Bitcoin drop to $3,600 on March 12.
Bitcoin has arguably had its worst week ever; after peaking at $9,200 last weekend, the cryptocurrency plunged as low as $3,800, marking a drop of 60 percent in under seven days’ time.
The first question supply chain management companies or teams considering using blockchain technology should ask is: ‘Should I use a database instead’? The frank answer is: Yes, but only if you are not sharing valuable or vulnerable information.
The search term “Bitcoin” has exploded in popularity on Google in the last week, suggesting the unfolding global economic crisis may be spurring on interest in BTC even in the wake of one of the coin’s most devastating sell-offs ever.
While Bitcoin was born independent of traditional finance, events taking place on Wall Street have become increasingly important to the cryptocurrency.
The Bitcoin price plummeted by 50 percent on March 12 in a steep sell-off, and one cryptocurrency trader said that it could eliminate the appetite of institutional investors to invest in the space at a large-scale.
The hashrate of the Bitcoin blockchain network barely flinched as the price of BTC plummeted to $3,600, by around 50 percent within a 24-hour span.
Back-month Bitcoin futures contracts are trading at a steep discount to spot on the leading exchanges, indicating that derivatives traders could have low expectations for a price recovery after the coin’s recent capitulation.
The global markets were subjected to an unparalleled meltdown yesterday that proved to be particularly impactful to the crypto markets, with Bitcoin and many major altcoins posting their largest single-day losses ever.
The turbulence seen within the stock market over the past several weeks has sent shockwaves across virtually all markets, leading Bitcoin and other digital assets to post unprecedented losses throughout the past several days and weeks.
Bitcoin’s price action throughout 2020 can be described as “wild.” The pioneer cryptocurrency rose to $10,500 and fell over 62 percent since February amid fears of the widespread transmission of coronavirus.
To prevent future crypto market crashes, the managing partner at Multicoin Capital, Tushar Jain, proposed a bold solution—creating an industry-wide alliance of circuit breakers.
The Bitcoin price has recovered from $3,600 to over $5,200, recording a 44 percent recovery within merely hours.
American whistleblower Edward Snowden said that this is the first time in a while he wanted to buy Bitcoin.
The CEO of Hong Kong-based crypto derivatives exchange FTX has speculated that if BitMEX had not gone offline on account of “hardware issues” Friday morning, the price of Bitcoin could have crashed to zero.
The price of Bitcoin dived $400 below the BTC spot price on BitMEX’s Bitcoin perpetual swap contract as the platform reportedly halted trading on account of “system instability.” Traders widely reported experiencing a system crash on BitMEX between 02:16 and 03:00 UTC Friday morning, as XBTUSD crashed to $3,600, $400 below the Bitcoin spot price.
Charles Hoskinson, the CEO of IOHK, assured the community that all Cardano (ADA) releases are going according to plan and everything is moving forward at a rapid pace.
MyEtherWallet, an open-source interface for Ethereum wallets, has announced the launch of its mobile application.
The Bitcoin price crashed from $7,400 to $5,200 in just one hour, liquidating a staggering $665 million worth of long contracts.
Bitcoin has entered a sharp sell-off in the wake of an address Wednesday night by United States President Donald Trump on the Coronavirus, strengthening speculation the number-one crypto by market cap is trading as a risk-on asset.