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Although 2023 has certainly been a positive for the digital asset industry, last year did not fare the same. Subsequently, with positive moments abounding this year, we take a look back at the performance of the industry’s most prominent asset. Specifically, we observed the Bitcoin (BTC) price on Black Friday 2022. The primary story of 2022 was the collapse of FTX, one of the largest failures the industry had ever seen. Therefore, a host of tokens sported poor performances throughout the tail end of the year. Subsequently, 12 months removed from that, the upcoming Thanksgiving should present a different story. Conversely, a look at the price of Bitcoin during the important American holiday is an important historical observation that could hold even more information. Also Read: Shiba Inu Price on Thanksgiving 2022 Bitcoin Price on Black Friday 2022 Since the inception of cryptocurrencies, Bitcoin has remained the market’s most prominent. Even now, the entire industry ha...

Binance and BNB are currently the first and third trending topics in the industry. The discussions have been sparked over the allegations that Binance sold Bitcoin to uphold the value of BNB tokens. The world’s leading exchange is the top holder of Bitcoin. Obliquely, this comes with the power to manipulate the price of the asset. Amid the dumping speculations, several members of the community, including Peter Brandt, have outrightly called out Binance and its founder, Changpeng Zhao [ CZ ]. Additionally, this section of the community is bracing for BNB’s price to break below $200. I have stated for years that CZ and @ binance is a global scam and $BNB just a cheap fiat. Watch it all unravel https://t.co/B1SRFFWgY0 — Peter Brandt (@PeterLBrandt) August 22, 2023 Also Read: Thailand Seeking to Shutdown Facebook over Crypto Scam Ads Binance Wallet Activity Several Binance wallets make the cut to the top holders’ BTC rich list. The last outflow tran...

The Bitcoin funding rate strategy has proven to be accurate over the past year. BTC has reacted in a particular way during overheated and cooling-off periods. Whenever the number crosses 0.0100 [red], it indicated the loss of buying power. However, the arrival into this zone does not call for an immediate correction. The funding rate has to start falling alongside and accompany the price parallelly. When both these conditions are fulfilled, this strategy confirms a price correction. The current condition seems to be synonymous with what was observed during Q1. The market concluded one overheated phase and the funding started dropping, laying the foundations for a correction. Also Read: Bitcoin: ‘Earnings Season’ Rally Is Due, Will BTC React Accordingly? Source: CryptoQuant Last time, only after two peaks were created, and the funding rate subsequently dropped below -0.0100, a recovery was initiated. Thus, only after a proper cool-down, a change in trend be expected from Bitc...

Re serve currencies hold great value in the global economy as they serve as crucial facilitators of international trade and finance. These currencies are held in substantial quantities by various central banks and financial institutions, enabling them to fulfill their role in supporting global economic transactions. For centuries, global re serve currencies have played a pivotal role in international trade and finance. The origins of the concept can be traced back to the 15th century when the Dutch introduced the guilder as a re serve currency. Throughout history, various currencies have risen to become dominant global re serve currencies. However, they eventually lose their status over time. This pattern noted the evolving dynamics of the international financial system. Along with this the changing likes and economic circumstances that shape the reign of re serve currencies are also highlighted. Britain’s reserve currency status endured for 105 years, while France’s lasted fo...

Royal Group Bearish On US Stocks According to a report published by Bloomberg, the multinational conglomerate helps to manage one of the most enormous family fortunes in the world through a huge network of subsidiaries. In addition, the investment firm initially intended to invest as much as $10 billion in equities and other assets located in the United States and Europe that had been battered by fears of a global recession. advertisement Read More: Crypto Giant Galaxy Digital Moving Operations Off Shore Citing US Regulatory Headache However, things have taken a sharp turn as the Royal Group has now adopted a more negative stance on US equities and moved most of its portfolio into short-term US Treasury bonds. Reports suggest that the company, which is chaired by the National Security Adviser of the United Arab Emirates — Sheikh Tahnoon bin Zayed Al Nahyan — is also increasing its investments in commodities and cryptocurrency. The organization’...

Time and again, Bitcoin [BTC] has been compared to GOLD as they share several similarities. Both these assets have been noted to entail store-of-value characteristics. As skeptics continue to suggest that GOLD will remain a much more significant investment than BTC, the king coin surged to a high of $28,000 for the first time in months. Amidst this, the correlation between GOLD and Bitcoin was inching close to its highest level in over 5 years. #Gold breaks 2000, #Bitcoin at $28.5k, with a correlation of 84% approaching the highest correlation in over 5 years pic.twitter.com/BxlH4mi7XR — James V. Straten (@jimmyvs24) March 20, 2023 Bitcoin and GOLD ’s surge was attributed to the ongoing turmoil in the U.S. banking system. The downfall of centralized financial institutions prompted investors to explore other sectors. This correlation could certainly prove to be beneficial for the king coin. Investor confidence in Bitcoin as a store of value has historically bee...

In a recent interview with CNBC, Galaxy Digital founder, Michael Novogratz said that the U.S. is heading for a credit crunch. In light of that argument, he highlighted that it presents a great opportunity to buy into investments such as GOLD (XAU), silver (XAG), and Bitcoin (BTC). Novogratz stated during the interview, “We are going to have a credit crunch in the U.S. and globally […] You want to be long GOLD and silver […] and you want to be long Bitcoin.” Novogratz pointed out that since banks normally raise capital by making fewer loans, a credit crunch is imminent. Additionally, he emphasized that signs of a recession are already present, such as those in the commodities market. This month, the U.S. banking sector witnessed a new crisis when Silvergate Bank, Signature Bank, and Silicon Valley Bank (SVB) all failed within a single week. The outlook for the U.S. banking system was lowered by Moody’s to “negative.” Novogratz said a change in interest rate policy was ...

Bitcoin’s (BTC) correlation to the S&P 500 (SPX) has turned negative for the first time since the FTX collapse in November 2022. However, for most of 2022, BTC and the S&P 500 (SPX) showed a positive correlation. Apart from the FTX fall, December 2021 was the last time the two registered a strong negative correlation. Bitcoin's daily correlation to the S&P flipping negative for the first time since the FTX collapse pic.twitter.com/W4z0ePkxLR — Will Clemente (@WClementeIII) February 21, 2023 The cryptocurrency market took a significant hit as a result of the FTX fall. The debacle led to the value of Bitcoin (BTC) consequently falling. SPX, on the other hand, maintained its upward trend. Thus, BTC suffered as a result of the previous loss of correlation. The recent loss of correlation, however, might have the opposite result. The SPX recently reached its highest peak in many months. However, there was an immediate correction. Because SPX and Bitcoin re...

The cryptocurrency markets have been headed in a downward trajectory for the last couple of days. The current plummet may be attributed to various reasons, such as regulatory fears, action against certain firms, and new inflation data to be released today. Bitcoin (BTC) and Ethereum ( ETH ) have fallen from highs not achieved since November 2022. According to CoinShares’ “Digital Asset Fund Flows Weekly” report, digital asset investment products saw a total outflow of $6.8 million. As per the report, Bitcoin (BTC) saw outflows of $10.9 million, while Ethereum ( ETH ) saw inflows of $5.1 million. Additionally, there were outflows of $3.5 million from short-Bitcoin investment products. Source: CoinShares The country with the highest outflows is the United States, with $10.4 million. Meanwhile, Germany had the highest inflows, with $8.3 million. Europe as a whole saw inflows of $4.7 million. On the other hand, the Americas saw outflows of $11.7 million. SourceL...

2022 will go down as one of the worst years for the cryptocurrency industry. With Bitcoin [BTC] witnessing a major plummet to mid $15K levels, the market experienced a significant correction phase. However, the narrative seems to be changing with BTC moving beyond $24,000 at press time, While many claims that the bull market has already started, a few others continue to put forth the bull trap speculation. But how long will the bear market last? Historic data points out that the Bitcoin bull run has lasted for 2.5 years on average. Bear markets, on the other hand, have time and again existed for just 1 year following the bull market. Source Market cycles usually consist of four phases. It starts off with accumulation, followed by markup, and then distribution. The last one is the markdown phase which usually is associated with the bear market. Therefore, when Bitcoin enters its accumulation phase once again, a bear cycle is usually inching toward its end. Several analysts b...

Owing to his Twitter spat fight with climate activist Greta Thunberg, American-British social media personality and former kickboxer Andrew Tate has been the talk of the town for all the wrong reasons over the past few days. On social media, almost every active user has an opinion about what is going on. Resultantly, hashtags around his name were trending on Twitter at press time. Source: Twitter Earlier this week, Thunberg was provoked by Tate who thought it’d be fun to mock the 19-year-old by flaunting his 33 cars. However, he was slapped with—what the internet claims to be—the perfect comeback. yes, please do enlighten me. email me at [email protected] https://t.co/V8geeVvEvg — Greta Thunberg (@GretaThunberg) December 28, 2022 Tate’s subsequent video reply gave away the chauvinism poster child‘s location and he got detained in Romania, while Thunberg has been accredited for “really healing the world.” Andrew Tate...