Many expected the price of Bitcoin to dive after the Bitcoin Halving. The expected Bitcoin dump has not materialized leaving many to believe that the actual Bitcoin dump occurred well before the halving. Bitcoin price jumped to close to the $10,000 mark before minutes later falling again to $9700.
JP Morgan Chase is reportedly now accepting clients involved in cryptocurrency. Chase has been a vocal critic of both Bitcoin and cryptocurrency for years. Many suspected that they were quietly investing in Bitcoin while discrediting the currency in public statements. I remember when Chase actually penalized customers with fees when they used a Chase debit to purchase Bitcoin.
Coinbase has reportedly become a Chase customer. By embracing such a high profile cryptocurrency business, Chase seems to be sending a welcome message to future cryptocurrency investment.
The much anticipated halving of Bitcoin has occurred. As with the previous 2 halvings, this did not result in a price increase. In spite of this history many Bitcoin enthusiast expected to see a spike in price. During the previous halving, it took almost a year for the Bitcoin price to make a drastic move upwards.
As of now miners will be earning less and Bitcoin has a lower inflation than gold. What happens with the price remains to be seen.
In spite of what many investors see as a lackluster performance by Bitcoin during the pandemic crisis, Bitcoin has out performed Gold. Gold is up approximately 12% as compared to Bitcoin’s price increase of a little over 23%. The current crisis is probably not a proper test of the “best store of value” because in times like these many are liquidating assets due to temporary emergency situations. At the beginning of the pandemic, both Gold and Bitcoin dropped in price because many were selling everything.
As the economy recovers, How many will choose Bitcoin as the value of the dollar drops? We all that considering the current state of printing money is likely to lead to a devalued fiat which should make Bitcoin more appealing than ever.
After a long downwards trend in price, Bitcoin is once again in the green. Bitcoin is currently trading at $8845. What effect will the ebbing of the Covid-19 outbreak have on the price of Bitcoin? We have seen the stock market begin to recover as many states begin to open back up for work.
Many traders blamed futures trading for the drastic drop in the price of Bitcoin. Futures trading platforms account for a huge portion of the exchange’s volume. These exchanges include Bitmex, Binance Futures and FTX.
During volatile financial times, traders who use borrowed capital to trade in Bitcoin futures may be forced to place large sell orders to cover.
I’m not sure that any technical analysis could have predicted what has happened during the past week, but if you ever wanted to buy low, this could be your chance!
We’ve always heard the crypto battle cry “I’m in it for the technology” during the volatile times of crypto. Today is one of those days that you need to be in it for the technology. We may be seeing the best buying opportunity we will ever see.
Lolli Co-Founder & CEO, Alex Adelman, explains the benefits of the new Lolli Bitcoin cashback program. You may easily add the Lolli Chrome extension to your browser and earn Bitcoin with any purchases made through Lolli.
The founder of Lolli tells the story of going to the bank as a boy with his father and enjoying the free lollipops the bank gave away to bank customers, hence the name Lolli for the cash back program.
Get Bitcoin Back on All Purchases
The amount of the discount varies from store to store but most stores offer at least 3% back in Bitcoin. Some of the stores offer as much as 27% back in Bitcoin. Groupon is one of the stores mentioned which is all the more interesting because most Groupon offers are already offering savings and this enables you to get Bitcoin back as well.
We are seeing more programs like this and I think that is a good thing. Anything that gets Bitcoin and altcoins into the hands of new users is a positive for the crypto community as a whole.
Justin Sun paid millions of dollars for lunch with Warren Buffet. The lunch date allows him to bring seven guests. Sun talks about promoting blockchain technology to the outspoken crypto skeptic, Warren Buffet.
The possibility of converting Buffet to a Bitcoin enthusiast seems unlikely, but Sun’s appearance on CNBC is likely to reach potential investors who might otherwise never even consider investing in Bitcoin or other cryptocurrencies. I like to see this kind of interaction with the traditional investment world. I think it will take some time, but as more companies discover and invest in blockchain, I think the interest in cryptocurrency will increase.
Twitter and YouTube are suddenly full of Bitcoin investors excitedly talking about “The Golden Cross”. If you are wondering what all of the excitement is about, we will try to explain. In simple terms, the term “Golden Cross” when describing Bitcoin is when the Bitcoin/ US dollar 50 day moving average rises and crosses over the 200 day moving average of Bitcoin.
Investors are watching this closely because the last “Golden Cross” saw a jump of almost 200% in Bitcoin price over a period of just 2 months. The “Golden Cross”, however does not always result in price gains. You will also see reference to the “Death Cross” which is the opposite of the “Golden Cross”.