Is Another Bitcoin Capitulation Just Around the Corner?

Do these Bitcoin Miner Statistics Point to Another BTC Capitulation?
Miners may be driving the recent Bitcoin price slide ahead of the halving, dumping coins to ensure their expenses get paid. Halving May turn into Negative Event for BTC Confidence The halving may turn out to be negative for Bitcoin (BTC) prices, as analysts suspect the recent price slide was triggered by a “miner capitulation.” A signal based on hash ribbons, a measure of mining activity, signals more selling may be in store. Hash Ribbons coming in hot for another Miner Capitulation. Currently a 1 week data delay so crossover may have already occured…#Bitcoin pic.twitter.com/uPektFzeJX — Charles Edwards (@caprioleio) March 14, 2020 Miners abandoning the network may signal a few things. One is the expectation for falling BTC market prices, which are no longer viable to support mining. The other possible explanation is that miners are switching off their facilities in a bid to lower difficulty. With about two months left to the halving, miners struggle to make up as many high-reward blocks as possible. For now, the Bitcoin network is not threatened by a so-called “death spiral”, as the difficulty would adjust downward. The other encouraging factor is that the Bitcoin network is still supported by four or five very influential pools, which show no signs of abandonment. However, as Bitcoin price settled above $5,200, fears of further steep price drops were renewed. The current BTC sentiment for all traders is “extreme fear”, the lowest value since the price crash in 2019. But miners may turn out to be a significant vector of price movements. Miners Still Support Relatively Bitcoin High Hashrate The Bitcoin hash rate flattened out at around 110 quintillion hashes per second. This level, which is still close to peak values, may lead to another slightly lower difficulty. The halving, however, may severely diminish the hash rate, as the event sifts out miners that cannot afford their operating costs. Roughly, the price of producing one Bitcoin would double, and miners would be pressured to optimize or abandon the network. If #BTC mining becomes unprofitable every miner'll turn off in short term; like every other activity'd do if it doesnt generate profits. Then, big capitulation'll hit. Once the diff adjstment is done & BTC becomes profitable again, they'll turn on to mine faster than ever imo. — Inversionario (@lnversionario) March 15, 2020 The silver lining of the current picture is that “miner capitulation” has been an explanation in the past, when BTC still traded at a higher range. Miners are also producing blocks on schedule, and the Bitcoin mempool is relatively empty. After a recent boom of on-chain transactions that preceded the sell-off, activity on the network diminished. But a congestion is also a source of panic, and usually happens close to dramatic price moves. Ahead of the halving, Bitcoin remains unpredictable, with extreme predictions of new price peaks and a fast rally, as well as potentially a deeper slide to much lower valuations. But miners will be closely watched in the coming weeks, as a signal for the health of the network. What do you think about the potential for a miner capitulation and a further price slide? Share your thoughts in the comments section below! Images via Shutterstock, Twitter: @capriolieo

Stay Safe From Coronavirus but also Keep your Bitcoin(s) Safe

Stay Safe From Coronavirus but also Keep your Bitcoin Safe
The time is ripe for another round of scams and shady schemes, as the coronavirus panic is used to extort potential Bitcoin buyers. Beware of scammy schemes or shady exchanges. Scammers May Seek Naive Bitcoin Investors at Times of Panic Scammers may be hunting for naive Bitcoin investors during times of panic. The latest Coronavirus precautions and lockdowns also mean dishonest crypto-related players may attempt to scam buyers into losing their money. The crypto space has never lacked scams and problematic exchanges. But with Bitcoin falling toward $5,000, new buyers may not be aware of the risks of trading. Exchanges crop up all the time, reporting extraordinary trading volumes. But those markets may turn out to be unreliable, potentially ending in an exit scam. The best approach to avoid fake exchanges is to stick to the best-known names. Even leading exchanges have shown evidence of volumes way above organic demand. But at this point, any newly created and overhyped market may be even riskier. So can we all agree that most of the big exchanges fake their volumes, thin order books crashing the price of #Bitcoin over 40%. — Bilal Hammoud (@BYHAMMOUD) March 13, 2020 Buying BTC right now opens up a whole can of worms for newcomers. Usually, using a wallet is straightforward. But wallet scams are not rare. Users must be aware to avoid downloading wallets from links sent through chat or emails. Even GitHub pages may contain wallets with malicious injections, or those that manage to send out the newly generated private keys over the Internet. Wallets may also create tainted seed phrases, which are known to the malicious actor that planted the wallet. Faked Wallets, Ponzi Schemes May Steal Coins Extra vigilance may be required when downloading wallets for Bitcoin or other crypto coins. This type of scam has been around for a long time, but the new coronavirus measures may revive the attempt to steal coins. The other risk involves the pressure to buy Bitcoin and pay ransomware demands, or extortion emails. Those types of scams may increase, to feed off the general sense of chaos. The third type of scams may include Ponzi schemes or promises of passive income. Putting Bitcoin or any other crypto into these schemes has a big potential for losses. Social media, and especially Discord and Telegram channels are also some of the usual vectors for spreading scams and fake schemes. A smaller risk may be a renewal of cryptojacking, or hidden mining that overloads consumer electronics. The other risk for newcomers is to be drawn into high-leverage BTC derivative trading, instead of just diversifying with actual Bitcoins. Derivative betting on the price of BTC, especially given current volatility, may be extremely risky, and lead to deep losses. The price slide of Bitcoin may continue, as pessimism has gripped the markets. But holding onto actual coins is still better than falling for an outright scam. The best approach is to be skeptical of newly created exclusive offers, especially those promising high returns. What do you think about potential Bitcoin and crypto scams during the coronavirus measures and lockdowns? Share your thoughts in the comments section below! Images via Shutterstock, Twitter: @BYHAMMOUD

Forced to ‘Work from Home’ due to Covid-19? Crypto Can Help

Forced to 'Work from Home' due to Covid-19? Crypto Can Help
The CoVid-19 pandemic led to pressures to work from home. Despite the price crash, the crypto economy has some positive examples. Crypto Startups Already Established Distributed Team Model For years, the crypto space has operated as a global, interconnected network of opinion leaders and developer teams. Bitcoin (BTC) appeared and spread through a loose forum community, and to this day, no one has met its creator, Satoshi Nakamoto, in person. In the wake of the coronavirus outbreak and companies forcing their staff to stay indoors, “work from home” searches have suddenly exploded on Google, and remote work hashtags showed that regular business was behind the curve. Over the years, crypto projects cropped up, tapping developer and marketing talent from across the globe. The crypto space turned out into a big work-from-home operation, where remote teams were the norm, rather than the exception. Even in a bear market, crypto projects continue to operate, offering opportunities for passive income and community engagement. anyone stuck at home looking for a #WorkFromHome #passiveincome try out https://t.co/4naQaVGcee Its a fantastic way to earn FREE #Cryptocurrency for reading and blogging short articles! No strings attached, no personal information collected, just start earning real crypto today! — Cash Chucker (@TheCashChucker) March 11, 2020 Crypto startups have worked on use cases such as time monetization. Other projects already rode the wave, finding solutions for secure file sharing. Are you working from home? Do you or you company need a secure way to share files? Check out #pshare#WorkFromHome #coronavirus#ITsecurity #filesharing@dualityofficial @DualityCN https://t.co/egzNYHIvzN pic.twitter.com/yndTSf8VA8 — Crypto_wizard Raistilin (@RaistilinCrypto) March 13, 2020 Passive Income, Trading, Gaming, and Distributed Finance All Done Remotely Whether the coronavirus pandemic will lead to more remote work is anyone’s guess. But the culture of distributed teams is gaining experience and technological solutions every day. All the while, BTC and other crypto coins have long ago broken the borders of payments, where banking systems still lack reach or are prohibitively expensive. But crypto assets are not all about passive income or thinly veiled Ponzi schemes. Developer teams, if they ever worked in an office, were the first ones to be sent home and continue their productivity. For most open-source, distributed crypto projects, even the biggest ones, a remote team is the norm. Ethereum, a project that is instrumental to the crypto space, has been guided by a remote developer team. crypto and ethereum developers working remotely Blockchain is also, in itself, a technology for remote consensus and record-keeping. Added to the open-source ethos, the crypto space has given an example of how the knowledge economy can continue to work remotely. Exchanges are also showing a model of working at all times, with a distributed team. The recent crypto crash was partly due to the fact that trading and transactions don’t have any time limits, and are open 24/7. Trading is also possible to anyone, and although risky, has created trading opportunities despite geography. Even after the market slide, most exchanges mark significant activity. What do you think about the latest work-from-home trend? Share your thoughts in the comments section below! Images via Shutterstock, Twitter: @TheCashChucker, @RaistilinCrypto

Why Bitcoin ‘Cannot be a Reliable Safe-Haven Asset’?

Why Bitcoin 'Cannot be a Reliable Safe-Haven Asset'?
Bitcoin (BTC) shed as much as 50% of its price within 24 hours, going through massive liquidations in what looks like a capitulation event. Yet BTC still has some characteristics of a safe haven asset. Bitcoin Unreliable Due to Unpredictable Days of Trading Anomalies, Panic Selling BTC is unreliable in the short term due to the unexpected days of either massive gains or losses. Yet owning Bitcoin in the past decade has shown its potential to offset other economic risks. Now, BTC is entering a period of heightened volatility, losing trust as remaining stable enough. But overall, Bitcoin can have features that may be useful during crisis times for traditional assets. “Generally speaking, Bitcoin has moved in ways that seem to reflect what’s happening in the broader market. But there are exceptions — entire years that don’t fit this pattern. The data suggests that over the years Bitcoin has occasionally performed as an effective alternative to traditional markets,” shows the most recent Longhash analysis. Overall, money flowing into Bitcoin reflected confidence in the overall economy. Exceptions included 2014, when the fallout of the Mt. Gox failure depressed prices for a year. Yet BTC can be viewed as a still novel asset in a phase of discovery, with any price moves possible. The influence of liquidations on the futures market also makes Bitcoin less reliable. The asset does not have an emergency switch, except for occasional technical emergencies on exchanges. BTC May be Safe Haven in Developing Countries Bitcoin was not a safe haven in the sense of money flowing into the markets while other assets tanked. One of the reasons for that may be logistics – even retail investors cannot move so fast to stock up on BTC. Yet there is a side to Bitcoin which looks like potentially working at times of crisis. The top cryptocurrency, however, has been used locally to offset other lagging markets. During the bull market of 2017, Korean investors moved into crypto assets, to offset lagging local markets. For others, Bitcoin was a speculative one-off chance. The recent selling also showed that BTC could offer a fast source of emergency funds, even if sold at lower prices. Holding some BTC coins is also an alternative payment tool, as the Bitcoin network has not closed during the sell-off. Bitcoin is also relatively safe in countries where local currencies are even more volatile and unreliable. The leading coin has worked to offset inflation and weak currencies in Venezuela, Iran, and in part, Turkey. BTC may be much riskier in comparison to stock indexes in developed economies but may work to offset economic lags in developing countries. bitcoin a boon for developing countries The usage of BTC is also a source of unofficial dollarization. And since price discovery is happening in advanced economies, holders of BTC may also benefit from a higher economic standard. LocalBitcoins is also showing anomalies in price discovery, where BTC shoots to extraordinary price peaks as an offset against local monetary and economic risks. What do you think about the latest Bitcoin crash and the short-term loss of safe-haven status? Share your thoughts in the comments section below! Images via Shutterstock, LongHash

Bitcoin Price Poll: Why Investors Think BTC Could Fall to $3200?

Bitcoin Price Poll: Why Investors Think BTC Could Fall to $3200?
Confidence in Bitcoin price bouncing back is extremely slim, with 48% of respondents expecting more price slides in a recent Bitcoinist poll. Bitcoin Confidence Lost After Deep Crash The confidence in Bitcoin is at low tide, as nearly half of respondents expect more selling and an extended capitulation. The expectations are that BTC price will slide to levels not seen since the lows of 2018. But what makes investors expect lows of around $3,200? Bitcoin price was not far from that target in general, as last week’s trading saw orders filled at under $4,000. But even after recovery, there are no expectations BTC may bounce back to a higher level. $btc was always a confidence game. All crypto is. And it appears global confidence in just about anything has evaporated. What brings it back to $btc. — Michael Novogratz (@novogratz) March 13, 2020 One of the reasons was that Bitcoin existed in a market where almost constant bullish movements were the norm. Now, this confidence has evaporated, and with uncertainty surrounding the global economy and a looming recession, there is little hope Bitcoin will trek to higher prices. The expectation that a Bitcoin price recovery will take longer, and hinge on a shift of sentiment, will pressure down prices. Bitcoin Price Abandons Periods of Relative Stability The Bitcoin market price also moved with relative stability in the past year, and 2020 saw expectations of a relatively reassuring range between $7,000 and $14,000 per coin. Instead, Bitcoin showed it could dip within hours below the predicted price range. A move to emergency cash also undermined sentiment. Josh Roger, BTC trader, and analyst does not see money flowing back into Bitcoin soon. A big part of $BTC selling off is due to a panacked marketplace where traders are looking to get into cash That same cash isn't going to be flowing back into Bitcoin anytime soon So unless stocks rally, or you convince your entire town to buy Bitcoin Don't expect a rally soon — Josh Rager 📈 (@Josh_Rager) March 14, 2020 Until recently, short-term fluctuations on the stock market sometimes translated to BTC rallies. During the Iran-US tension in January, BTC also spiked to above $10,000, once again revealing itself as rising during crisis news. Even the early Coronavirus news boosted BTC above $9,000. But the overall market crash, and Dow Jones slumping closer to 20,000 points, resulted in panic across crypto markets as well. The recent slide revealed systemic weaknesses, such as risky leveraged futures trading. The appearance of “whales” who dumped physical coins on the market also showed that not all BTC owners were long-term bullish. Instead, BTC became another quick source of cash at times of uncertainty. However, the recent price slide also seems to break down the halving narrative. Mining has not shown signs of “capitulation” as levels remain above 110 quintillion hashes per second. But now, the halving may be another test for the network, as low prices may make it unprofitable to mine low-reward blocks. Do you think Bitcoin’s price will slide down to the December 2018 bottom of $3,200? Share your thoughts in the comments section below! Images via Shutterstock, Twitter: @novogratz, @Josh_Rager

FTX Exchange Pays Users’ Gas Fees Out of Own Pocket

FTX Exchange Compensates Crypto Traders for ETH Congestion
After unprecedented trading volumes and some network congestion, the FTX exchange introduced special measures to boost trader confidence. FTX Exchange Compensates Traders for ETH Congestion The rising gas fees for Ethereum (ETH) meant traders faced potential difficulties withdrawing funds. The exchange also showed lagging transactions for tokens, potentially leading to losses. For that reason, FTX stepped in to take the load off traders. “In view of the serious congestion of the Ethereum blockchain yesterday, FTX paid for itself, increased the gas (miner fee) packaged by ERC20 for all users, and accelerated the speed of user withdrawals,” the exchange announced. Gas fees reached $0.30 for speedy transactions, nowhere near the peak ETH fees. However, the fees were 10 times higher on average, meaning some wallets may have chosen to pay exorbitant fees. At one point, average reported fees per transaction reached $1.20. Waiting times also meant those that chose low fees faced delays that may be costly in terms of delayed smart contract execution and liquidations. Competition Heats Up With Other Derivative Markets During peak trading times, the FTX exchange also had to lower the frequency of trades and avoid trading congestion. So far, the increased trading load managed to create problems even for the biggest markets, with outages caused by panic selling. FTX, which aims to become a leading crypto derivatives exchange, now carries as much as $3.4 billion per 24 hours. BTC futures take up the bulk of trading, or 45% of all volumes, with $1.5 billion per day reported volumes. ETH trading is also derivative, contributing another 12% to volumes. FTX Token (FTT), the native asset of the exchange, also recently rallied to as high as $2.78. During the latest sell-off, FTX sank to $2.03, still closer to the top of its range. The FTX exchange noted the asset had remained relatively stable despite the overall sell-off of nearly 30% for most assets. Still, FTX exchange, along with BitMEX, were singled out as possibly exacerbating the problems with the recent BTC price drop. FTX, despite its claims to high capacity, had to delay orders, essentially also creating a sort of emergency switch for BTC trades. @SBF_Alameda fix this one. Many exchanges do fuckery and lags – so there’s a reason people swapped to ftx.Don’t treat em even worse https://t.co/kIlJIDUjDr — Bullish Kid (@BullishKid) March 12, 2020 FTX still takes up about 2.13% of overall BTC futures trading, still far behind BitMEX. With the current sentiment still leaning toward extreme fear, BTC is not yet recovering with any stability, as more selling is expected. Do you think crypto exchanges should cover their customer’s high gas fees? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @BullishKid

Ethereum Experiences Worst Trading Day on Record

Ethereum HODL'ers Experience Worst Day on Record
Ethereum (ETH) crashed alongside all crypto assets, and this correction seems to be the worst one-day return in history. Barring a few trading anomalies, where ETH price dipped to almost zero, this correction arrived fast and erased most of the recent gains for ETH. Ethereum Returned to December 2019 Prices After One-Day Crash ETH has been inherently more volatile throughout its trading history, and even raised expectations of correcting deeper. But at the start of 2020, Ethereum became one of the best-performing altcoins. The recent crash, however, cut this optimism short, after traders exited out in droves and caused huge network congestion. Not to be outdone, it's Ethereum's worst ever day as a financial asset, by a significant margin (-43% with the runner up being -27%). pic.twitter.com/OS2Urcq2Jc — nic carter (@nic__carter) March 13, 2020 The crash erased more than 45% off the Ethereum price since last week, sending the coin down to $127.23. The sell-off boosted volumes to $30 billion, a peak-level activity for ETH. The slide of Ethereum also had repercussions for the entire crypto ecosystem, causing liquidations in DeFi collateralized lending schemes. The liquidations were exacerbated by a double bind of quickly slipping Ethereum market prices, as well as a heavily congested network. I say it reluctantly but the real problem yesterday was @ethereum, the congested network and the skyrocketing fees blocked all the decentralized mechanisms of the #DeFi. We are still far from having a solution that can be used effectively on a large scale. — Simone Conti | simoneconti.eth (@simoneconti_) March 13, 2020 DeFi Market Wrecked by Liquidations, ETH Collaterals Seized by Bots The sell-off did not entirely crash the collateralized lending sector, though it did send the market into shock. Maker (MKR) sank by more than 39% overnight, and more than 53% in the past week, sinking to $259.58. The specifics of the DAI trading space also allowed an exploit by a knowledgeable trader, where the price crash led to zero-price auctions won by a fast enough participant. Holy crap is this real? All the DAI vaults got liquidated and no one bid on the auction so someone walked away with literally millions of dollars worth of ETH after bidding $0 for the liquidated vaults? DumpstEr FIre #defi — Richard Holland (@codetsunami) March 13, 2020 The so-called collateral vaults were liquidated and taken over, based on the rules of Maker. This opened a 3.5 hour window, in which a single player had the limited right to buy up vaults that triggered liquidations. A bot was capable of bidding zero prices for the vaults, and won the auctions, while others did not have the chance, in part due to Ethereum network congestion. The current crash was spectacular in its speed, happening within a 24-hour window and based on panic across both traditional and crypto markets. But ETH has also fallen on a larger time scale, moving down from a peak above $300 in the summer of 2019. The latest liquidations and losses show that the ETH market slide is not the only negative development. Currently, the Ethereum network congestion has abated somewhat, leading to $0.15 gas prices for the fastest transactions. What do you think about the latest record ETH crash? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @codetsunami @simoneconti_ @nic__carter

Ethereum Transactions Take 44 Minutes to Clear Amid Market Chaos

Ethereum Transactions Take 44 Minutes to Clear Amid Market Chaos
Rushing to send coins to exchanges and DeFi platforms  has caused the Ethereum network to become heavily congested. High gas prices mean new transactions now have to wait up to 44 minutes to be confirmed. Market Crash Causes Panic-Driven Network Activity, Liquidations The recent market crash was also a stress test for networks, as immediately transaction activity picked up. The Ethereum network was the first to show a significant backlog, essentially clogging transactions for close to an hour. For anyone attempting to sell coins, the transaction may be either very expensive, or stall until prices correct even more. Changpeng “CZ” Zhao noted the worsened network conditions: #ETH network congestion. Average time for confirmations 2680 seconds (44 minutes) https://t.co/a2U8vF3Q9P pic.twitter.com/nPENzWA4yH — CZ Binance 🔶🔶🔶 (@cz_binance) March 12, 2020 While the ETH gas price is not exorbitant, it still requires $0.29 to get the transaction into a block sooner. USDT transactions are also affected, as nearly 2.9 billion stablecoins are only movable through the Ethereum network. This means shifts between exchanges will also become slower. In the meantime, Ethereum prices unraveled to $138.12, on rapid selling. This caused a series of liquidations of DeFi derivative trading and collateralized debt. A slower network means potential problems for some of the participants, as they have little time before their collateral is liquidated. Fast action is required for projects like Maker, and with a congested network, this may not be possible for all traders. 🚨🚨ATTENTION REQUIRED🚨🚨 If you see that the next price update in @MakerDAO is below your CDP/Vault liquidation price, please make adjustments to protect your CDP accordingly. We recommend Repaying, Paying back debt or adding more collateral to increase your ratio. — DeFi Saver (@DeFiSaver) March 12, 2020 The sudden, rapid price unraveling has not affected the Bitcoin mempool that rapidly. But for Ethereum, the network shows it is both instrumental to the crypto ecosystem but also a source of failure. The Ethereum network has congested during booming periods as well, or during high-level usage of one game or contract. But this time, the network reacted to market conditions, with potential repercussions and liquidations. Panicked Selling Pressured Ethereum Prices Some of the Ethereum transactions are also outright panicked selling, with coins noted going directly to exchanges for liquidation. 🚨 100,000 #ETH (13,677,560 USD) transferred from unknown wallet to #Kraken Tx: https://t.co/p185vhlRPo — Whale Alert (@whale_alert) March 12, 2020 It is uncertain how far the unraveling would go, as the world markets react across the board. But for ETH, the recent rally above $200 may have been a temporary fluke, as gains were easily erased by selling. The crypto market may not be all done with the price drops, and the Ethereum ecosystem is especially vulnerable. Currently, decentralized exchanges and collateralized lending schemes which rely entirely on smart contracts will show if they can absorb suddenly increased activity. Curiously, the price of multi-collateral DAI has retained its $1 peg. DeFi should avoid becoming DaiEthFi.#DeFi pic.twitter.com/tGY0uPiOas — Daniel🌰 (@tangdaniu) March 12, 2020 DAI remains a point of weakness, as it has absorbed significant ETH reserves. Just before the crash, Ethereum also got a boost from increased holding behavior, though the new price dip may cause some whales to liquidate. What do you make of the huge Ethereum network congestion right now? Add your views below! Images via Shutterstock, Twitter @tangdaniu @Whale_Alert @DeFiSaver @cz_binance

Chainlink (LINK) Suffers Devastating Correction, Here’s Why

Chainlink (LINK) Suffers Devastating Correction, What Happened?
As the crypto markets took another dip on Thursday, Chainlink (LINK) saw the most dramatic shift in sentiment. The asset, which until recently defied gravity, could not continue on its rally. Chainlink Reverses Trend from $4 Peak LINK broke down tentatively under $4 in the past day, and initially showed just a slight pause in its climb. But in the past day, the price unraveled rapidly, both in dollar and BTC terms. The #11 largest crypto sank toward $3.19, and fell from above 50,000 Satoshi toward 32,000 Satoshi. The flash crash followed days of extreme enthusiasm, but the price slide was also extremely steep. LINK erased more than 20% of its price in the past day, and is down more than 30% on a weekly basis, essentially following the general decline in crypto assets. The losses deepened as trading progressed on Thursday, extending the loss to above 21%. LINK threatens to now drop below the $3 mark. The worst part of the LINK crash is that for a few days, the asset was used to offset the decline in Bitcoin (BTC). But despite the market-defying properties of LINK, those price peaks are an anomaly. $LINK is not a safe haven guys pic.twitter.com/49fi3wSakt — Ivan on Tech (@IvanOnTech) March 12, 2020 Altcoins have always shown greater volatility, and LINK is no exception, going through boom-and-bust cycles. This time, LINK also revealed that the latest rally was not sustainable, and once again resembled a pump-and-dump episode. Low LINK True Liquidity Led to Slippage LINK true liquidity was also much lower, leading to immediate slippage once the selling started. Reported volumes during the sell-off reach $582 million, though liquidity, as measured by CoinMarketCap, was just $520,000 on Binance. The Chainlink asset also relies on futures markets, where the recent spike may have led to shorting. LINK was viewed as one of the potential stars in the altcoin market, possibly going for a much higher valuation. But after sinking closer to $3 with no end of selling in sight, its peak may be $4 in hindsight. It was also one of the few assets to have made net gains since 2017, seemingly untouched by the altcoin bear market. But now, after the BTC rally was cut short, the asset is also facing a deeper correction. The LINK rally followed several other altcoins, selected for their somewhat higher liquidity. However, the latest correction was not the sole loss on the market. Previously booming altcoins like Tezos (XTZ) marked similar losses of close to 20%. What do you think about the latest LINK crash? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @IvanonTech

Bitcoin Crashes Under $6K on BitMEX, Crypto Market Sheds $56 Billion

bitcoin price
Bitcoin (BTC) is depreciating rapidly today, with more than 11% loss in the past hour. The price dipped on panicked trading, crashing under $6,000 on BitMEX. Bitcoin in Freefall after Panic Sets In Bitcoin prices showed they suffered even more from the overall uncertainty on the stock markets. After tentatively stabilizing for a day, BTC unraveled, with a slide that cannot be stemmed. The extreme panic and the rapid movement on the futures market quickly erased value, crashing bitcoin under $6,000, a level not seen since the fall of 2019. Bitcoin price further distanced itself from its usual range from $10,000 to $8,000, and performed a freefall during European trading hours. It's not often you can #BTC is moving like stocks…. but it is…. and I said it, so…. pic.twitter.com/5Cr2GlIUoP — Pip (@HowesMarcus) March 12, 2020 BTC traded at $5,891.00 on BitMEX, and unraveled to $6,022.21 on the spot market. The recent precipitous price drop happened on relatively low volumes of $41 billion. The crash happened despite reports of new USDT tranches flowing into the ecosystem. The newly injected USDT for now cannot counteract the panicked selling. After the initial shock, Bitcoin prices recovered somewhat to $6,132, but by no means look out of the wood yet. Previous predictions saw “maximum pain” for BTC between $7,000 and $6,000. But now, predictions of a dip to $5,000 or even a crash to $3,000 don’t look so outlandish. BTC remained highly volatile, later retreating again to $6,039. #BTC Last support pic.twitter.com/ojQ3dgDdMy — Alejandro 🇪🇸 (@Pastore1314) March 12, 2020 Breaking below the long-term bullish trend may send BTC to a whole lower price range, erasing the previous expectations for a year of smooth price action, culminating in a halving rally. Now, bitcoin is again in almost uncharted territory, showing that its price action does not follow the narrative of a safe haven. The current dip is viewed as either holding and reaching stability or higher valuations, or an outright capitulation to much lower prices. With lockdowns and overall global uncertainty, bitcoin faces a dramatic decision period. Whale selling also accelerated in the past day, as large-scale orders pressured down the price before re-buying. But the rapid crash created a new wave of panic. The recent sell-off crashed the entire market, bringing down the overall crypto market cap to $172 billion, the lowest level since the pre-rally pricing at the beginning of 2020. The drop may not be over, with the territory under $6,000 still vulnerable. Ouch!Knifed 6k support.Next support = 4k #btc pic.twitter.com/PgI60vy7yP — Don Lopez 🇺🇸🇩🇴 (@MrDonLopez) March 12, 2020 The recent price crash started after bitcoin stalled in climbing above $9,200, then only briefly held support levels between $8,000 and $7,000. Now, the newly created panic will chart a new path for both BTC and previously booming altcoins. For now, only very reckless predictions see BTC bottoming out at these levels. Previous bottom calls around $7,800 proved a faulty prediction. What do you think about the latest price crash on the crypto market? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @MrDonLopez @Pastore1314 @HowesMarcus

Huge Security Flaw Allows Crypto Hackers to Steal Private Keys

Devastating Flaw Allows Crypto Hackers to Steal Your Private Keys
Storing crypto private keys on a computer, even offline, may not be entirely safe. Known vulnerabilities in widely used processors have added one more pathway that could expose valuable data, including wallet keys. Intel CPU Attack Not Viable in Real-World Conditions Just about a year after the revealing of the Spectre and Meltdown vulnerabilities, a new pathway to steal valuable information has emerged. This Tuesday, a new exploit was discovered, one capable of stealing information from Intel’s SGX (Software Guard eXtensions). This digital storage may be used for crypto private keys and other sensitive information. The data can be accessed via a novel attack, Load Value Injection, reported ArsTechnica. This means sensitive data can be divulged by injections stemming from malicious code or an app. This code could gain access to information usually restricted from sharing such as crypto private keys. The vulnerability will affect apps that use SGX to create a digital vault for encryption keys, passwords, digital rights management technology and other sensitive information. The new exploit is a cross-vulnerability with a previously known exploit, Meltdown. Intel has released a list of processors affected by the latest flaw. Unlike all previous Meltdown-type attacks, LVI cannot be transparently mitigated in existing processors and necessitates expensive software patches, which may slow down Intel SGX enclave computations 2 up to 19 times Private Keys to Crypto Wallets Usually Exposed Due to Human Error Intel put out an immediate statement about the attack and its mitigation: Researchers have identified a new mechanism referred to as Load Value Injection (LVI). Due to the numerous complex requirements that must be satisfied to successfully carry out, Intel does not believe LVI is a practical method in real world environments where the OS and VMM are trusted. New mitigation guidance and tools for LVI are available now and work in conjunction with previously released mitigations to substantively reduce the overall attack surface. The exact scope of the LV attack was presented in detail in special research launching in April 2019. The researchers suggest that the attack is extremely difficult to perform, and will not be likely to attack consumer electronics. So far, no known instances of the attack were known. It is possible the LV attack could affect cloud computing resources. Owners of crypto coins have always worried about the exposure of their private keys. So far, few thefts from wallets have been reported without having some form of human factor, which exposed the private keys. But gleaning a wallet private key from a consumer device remains a scenario with very low probability. What do you think about the latest Intel CPU vulnerability? Share your thoughts in the comments section below! Images via Shutterstock

Huge Security Flaw Allows Crypto Hackers to Steal Private Keys

Devastating Flaw Allows Crypto Hackers to Steal Your Private Keys
Storing crypto private keys on a computer, even offline, may not be entirely safe. Known vulnerabilities in widely used processors have added one more pathway that could expose valuable data, including wallet keys. Intel CPU Attack Not Viable in Real-World Conditions Just about a year after the revealing of the Spectre and Meltdown vulnerabilities, a new pathway to steal valuable information has emerged. This Tuesday, a new exploit was discovered, one capable of stealing information from Intel’s SGX (Software Guard eXtensions). This digital storage may be used for crypto private keys and other sensitive information. The data can be accessed via a novel attack, Load Value Injection, reported ArsTechnica. This means sensitive data can be divulged by injections stemming from malicious code or an app. This code could gain access to information usually restricted from sharing such as crypto private keys. The vulnerability will affect apps that use SGX to create a digital vault for encryption keys, passwords, digital rights management technology and other sensitive information. The new exploit is a cross-vulnerability with a previously known exploit, Meltdown. Intel has released a list of processors affected by the latest flaw. Unlike all previous Meltdown-type attacks, LVI cannot be transparently mitigated in existing processors and necessitates expensive software patches, which may slow down Intel SGX enclave computations 2 up to 19 times Private Keys to Crypto Wallets Usually Exposed Due to Human Error Intel put out an immediate statement about the attack and its mitigation: Researchers have identified a new mechanism referred to as Load Value Injection (LVI). Due to the numerous complex requirements that must be satisfied to successfully carry out, Intel does not believe LVI is a practical method in real world environments where the OS and VMM are trusted. New mitigation guidance and tools for LVI are available now and work in conjunction with previously released mitigations to substantively reduce the overall attack surface. The exact scope of the LV attack was presented in detail in special research launching in April 2019. The researchers suggest that the attack is extremely difficult to perform, and will not be likely to attack consumer electronics. So far, no known instances of the attack were known. It is possible the LV attack could affect cloud computing resources. Owners of crypto coins have always worried about the exposure of their private keys. So far, few thefts from wallets have been reported without having some form of human factor, which exposed the private keys. But gleaning a wallet private key from a consumer device remains a scenario with very low probability. What do you think about the latest Intel CPU vulnerability? Share your thoughts in the comments section below! Images via Shutterstock

Tether Printers Churn Out 60M New USDT, Relief Rally Inbound?

Tether USDT
Tether Inc. appears to be responding to the crypto market’s ongoing decline today by minting 60,000,000 new USDT tokens. Whenever this has happened in the past the crypto market usually experienced a surge in volatility. USDT Accrues in Tether Treasury The Tether printer became active after the latest bitcoin market crash, with the latest tranche creating another 60 million USDT. The large-scale transaction this March 11 followed a previous printing immediately after BTC crashed on Monday. 💵 💵 💵 💵 💵 💵 60,000,000 #USDT (59,732,218 USD) minted at Tether Treasury Tx: https://t.co/mMr3UVbbjE — Whale Alert (@whale_alert) March 11, 2020 The printing is a part of the usual pattern of interventions that coincide with BTC price downturns. However, the printing of USDT is not causing immediate spikes, as in the past. The 60M tranche is also relatively small in comparison to the already bloated USDT supply. Dovey Wan, co-founder of Primitive Crypto and commenter on general crypto-related issues, saw the latest intervention as “printing money out of thin air.” So this means Tether can ACTUALLY print money out of thin air without the actual deposit or collateral in place well, at least it's better than the central banker ie. we are able to have on-chain transparency whenever Tether prints https://t.co/3r4bGhQ8sv — Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) March 11, 2020 The newly printed USDT was also noted leaving the Tether treasury wallet, and entering the crypto ecosystem. 🚨 10,000,000 #USDT (10,106,447 USD) transferred from Tether Treasury to unknown wallet Tx: https://t.co/hcONG1cbjP whale_alert — Crypto Bert (@CryptoBert1) March 11, 2020 Tether Changes Hands At Least 10 Times per Day The Tether Treasury is also ready to release coins at any one time. Previously, Binance held the biggest USDT wallet, but now, the Treasury is the biggest holder. At any one time, those coins can leave the central wallet and add liquidity to the markets. The Treasury can also retire coins if deemed necessary. But so far this year, the USDT supply has only expanded. Despite the printing, BTC is still stuck around 7,823.20. USDT has also diminished its trading volumes to around $47 billion per 24 hours, down from peaks near $60 billion per day. The leading stablecoin was one of the chief factors in spot trading, but is now also creeping into futures, as in the case of USDT-settled futures on OKEx. Currently, most Tether tokens have been issued on the Ethereum network. Based on turnover statistics, USDT now moves through the trading ecosystem nearly 10 times each day, a level of activity usually matching peak trading action. The printing of new USDT since the start of 2019 led to significant growth in bitcoin and altcoin volumes. The latest printings, which accelerated in the past few weeks, revived the narrative that the BTC price discovery is highly dependent on manipulated trading. The extra liquidity has helped boost the markets, and up to 71% of all BTC trades now happen against USDT, up from around 60% in the past few weeks. What do you think about the latest USDT printing? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @DoveyWan @CryptoBert1 @Whale_Alert

25 Million XRP Head to Bistamp From Ripple Whale Wallet

25 Million XRP Head to Bistamp From Ripple Whale Wallet
The recent market sell-off may not affect only stocks and Bitcoin (BTC). Apparently, XRP whales are also looking for a fiat position, as one wallet moves 24.95 million tokens to a crypto exchange. Who is this Whale? A recent “whale” transaction reveals a tranche of 25 million XRP coins was sent to Bitstamp today. The coins moved just a day after Bitcoin experienced a massive sell-off which sent it plunging under $8,000. 24,999,995 #XRP (5,217,224 USD) transferred from unknown wallet to #Bitstamp Tx: https://t.co/9sO3udLSDN — Whale Alert (@whale_alert) March 10, 2020 The origin of that XRP, worth more than $5.2 million, is uncertain. The coin has been distributed to multiple early adopters and is still distributed as a reward to Ripple partners. The biggest source of free coins is Ripple’s escrow, which in March left out 100 million XRP for itself, returning the other 90% of the monthly tranche. Ripple has warned it does not intend to sell XRP, but has done so in the past. At this point, the asset is still suffering from selling pressures, exacerbated by the overall market sell-off. Looking at the wallet where that this latest tranche of XRP tokens has come from, we can see that it was activated by BitGo back in August of 2019, and has only ever held the Ripple native token. The wallet has sent XRP tokens to Bitstamp on several occasions in the past year. Bitstamp Emerges as Important XRP Hub The Bitstamp exchange, based in the Eurozone, is one of the most reliable markets, as well as being a source of reporting for accurate pricing information. On this exchange, XRP has reported trading volumes above $33 million, but real liquidity is actually closer to the $700,000 mark. This means any attempt to shed coins quickly could bring down the price. However, Bitstamp activity is also a bullish factor for the Ripple-based token, which was largely forgotten during the prolonged bear market. Now, traders notice a shift in exchange influence, as Bitstamp becomes an important market, replacing the disappearing demand for XRP on Korean exchanges. #XRP trading volumes move to the top spot on the world's longest-standing crypto exchange (@Bitstamp). Don't expect an explosion, but apparently utility driven volumes are starting to move. pic.twitter.com/QnCekcvRFd — TplusZero (@TplusZero) March 7, 2020 Further investigations show the heightened Bitstamp volumes do not only signify trading. The exchange carries a fiat-based market, which allows direct liquidation of XRP. Reportedly, some of the funds are taken off the market and do not re-enter the crypto market again. #XRP #Ripple #McCaleb #Bcrash It is also important to note that it seems that the profits are being cashed out directly through #Bitstamp and we found no evidence that any of it is being reinvested into the crypto market. #CryptoWhale https://t.co/i3x94BRCR4 — Sciclo🦎 (@Sciclo1) March 9, 2020 Previous investigations show Bitstamp sales can be traced to Jed McCaleb, former Ripple CTO and the builder of the XRP asset. XRP only recently attempted and failed to vault the $0.30 level. For a few weeks, the asset held around $0.24, and is now sinking toward $0.21. Despite temporary selling, there are hopes that XRP is still offering an opportunity for large-scale gains, and $0.21 prices are a buying opportunity for the long term. Market goes down, everyone forgets everything they've learned about the #XRP. These temporary prices don't change the fundamentals. Be patient.#NotOurFirstRodeo — The Cryptic Poet (@1CrypticPoet) March 9, 2020 The XRP market price remains within a range, though there are expectations for a breakout in the longer term. What do you think about the latest XRP liquidation? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @1CrypticPoet @Sciclo1 @TplusZero @Whale_Alert

Bitcoin Price Regains $8K Support Zone, is the Bottom in?

$100k bitcoin price 2021
Bitcoin price held support levels predicted by technical analysis, but the question remains whether the recent price drop has reached its bottom. Price Slide Abated, but Calling Bottom Still Not Certain The recent price drop below $9,100 brought bitcoin briefly under $7,700. But as the selling pressures abated, BTC is now at above $7,900, holding for now without another crash. The possibility for rapid-fire selling from whales crashed the prices, while allowing the possibility for a rebound. CryptoDog, an analyst that predicted the sell-off would conform to technical analysis, for now remains tentative about calling the bitcoin bottom. The Don Zone held. Not clear if this is the bottom, yet. pic.twitter.com/HgrU3ARypA — The Crypto Dog📈 (@TheCryptoDog) March 10, 2020 The sentiment and trading patterns for bitcoin still show “extreme fear”, a rapid unraveling of bullish expectations. The reluctance to call the bottom at just under $7,700 stems from previous expectations that a rapid downward move could lead to further sell-offs. Bitcoin Still Conforms to Long-Term Trajectory Bitcoin is also tested during times when stock indexes are also quickly repricing the previously booming positions. Because of the overall uncertainty surrounding oil price wars and the Coronavirus epidemic, the BTC price may not bounce based on its usual historical behavior. The halving narrative has also lost its influence. BTC traded at $7,946.60 on Wednesday, on slightly diminished volumes around $41 million. But the new factors, a series of whales liquidating, come to show that the chart does not move logically. There are sufficient BTC wallets that may also start liquidating in times of chaos. Whether the $7,700-$7,900 dip was the bottom, only time will tell, as well as an eventual unexpected bounce. A very probable bouncehttps://t.co/johhjBxXao#BTC pic.twitter.com/X1yiJ0AxWc — CryptoAddict [300k Dec2020] (@GlobalLife365) March 9, 2020 For others, the current bitcoin price dip and possible further downward trend is also charting a larger  bullish inverse head and shoulders pattern. The expectations for a recovery envision a yearly rally to as high as $14,000. see you at 13-14k 😘#BTC just start! pic.twitter.com/vbC1Rp1OCn — Bitfire (@Nautilus0101) March 9, 2020 The current price bottom also touches the lower range of the long-term bitcoin trajectory. For now, the price has not broken down below that range, still supporting the long-term bullish case. The current price drop also followed a “golden cross” event of 200-day moving averages, which however did not lead to an immediate rally. For now, traders act with caution. Bakkt trading volumes have recently moved down from their February highs. Monday's Bakkt Bitcoin Monthly Futures: 📈 Traded contracts: 1351 ($10.78 million, +219%) 🚀 All time high: 6601 (12/18/2019)💰 Open interest: $7.15 million (-16%) Trade while you sleep and take your emotion out of the equation: https://t.co/W8ClGYnuNn pic.twitter.com/kWMm9MpkEC — Bakkt Volume Bot (@BakktBot) March 10, 2020 Bitcoin has bounced from its lows so far, still conforming to the overall expectation of moving within a range in 2020, touching highs but also correcting to the lower end of the range. What do you think about the latest BTC price dip? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @TheCryptoDog @Pierre_rochard @BakktBot @GlobalLife365

Whales Dumping on BitMEX Sent Bitcoin Price Plunging

Whales Dumping on BitMEX Sent Bitcoin Price Plunging
The latest market activity brought the price of Bitcoin (BTC) to the $7,800 range, after rapid selling destroyed the market. Whales Dumped Millions in Bitcoin Starting late on Sunday, more reports of bitcoin dumping crept up on social media. On Monday, reports of whales dumping on BitMEX explained the downward spiral of the BTC market price. Bitcoin price kept losing support levels within hours on Monday, sinking toward the $7,800 tier just days after establishing tentative support above $9,100. The first of those trades noted was also the largest, a sale worth more than $21 million. BitMEX $BTC Whale:$21,992,685 worth of #Bitcoin sold at $7,845.53 05:53:37 2020/03/09| 💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰 So scared right now — WhaleTrades 🐳 (@WhaleTrades) March 9, 2020 Dumping did not end there, as more BTC was sold at $7,850 and $7,800, for a total of more than $11 million. The overall BTC liquidity is much lower in comparison to reported volumes, and sport markets are prone to slippage. But the series of sales, also noted on DeriBit, did not tell the whole story. BitMEX $BTC Whale:$6,087,919 worth of #Bitcoin sold at $7,779.61 11:13:37 2020/03/09| 💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰 I will eat my d**k on national television. — WhaleTrades 🐳 (@WhaleTrades) March 9, 2020 Did Whales Shake Down Weak Hands Before Buying Again? Shortly after whales sold, and possibly shook down weak hands, buying at lower prices turned the tides. $4 million worth of BTC was bought just minutes after the previous trades: BitMEX $BTC Whale:$4,000,000 worth of #Bitcoin bought at $7,786.03 11:49:43 2020/03/09| 💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰 I/ll throw in 1 or 2 btc — WhaleTrades 🐳 (@WhaleTrades) March 9, 2020 The latest case of rapid-fire selling, which also affected Bitfinex over the weekend, reported a series of market orders which chipped at the price. But now, the possibility for traders to buy the dip has expanded, and whales may be doing just that, suggesting a turn of the tides. For now, the selling pressure still keeps BTC at $7,814.10, followed by a quick bounce above $7,893. Trading volumes expanded on the spiking volatility, to above $47 billion in the past 24 hours. Immediately, the Bitcoin fear and greed index fell from 41 points to 17 points, or “extreme fear”. The question remains whether the recent price dump will undermine the narrative for a price spike based on the halving. Despite the enthusiasm and renewed BTC retail buying, the market once again revealed there are whales that can easily direct prices and cause panic. Whale selling also happened at a time of relative BTC stability, causing liquidations on anyone that dared to take long positions above $9,000. 99% longs rekt… 10 millions market sold… 7.6k lvl must hold or see you at 6k#globalmarket #Massacre #BTC #Bitcoin #XBT #Liquidation #BitMEX #Binance #Bitfinex #Futures pic.twitter.com/QV5bnfcb1e — NewChainOnTheBlock (@Game_Of_Coinz) March 9, 2020 Fear is also exacerbated by the possibility for a dip to much lower valuations, as low as $6,000. But with whale action, it is also possible for the price to rapidly return to higher levels, once selling pressures abate. What do you think about the latest BTC price moves? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @Game_of_Coinz @Whaletrades

This One Crypto Coin Has Defied Today’s Market Crash

This One Crypto Coin Has Defied Today's Market Crash
The entire crypto market remains in the red, with Bitcoin (BTC) dipping under $8,000. Yet ChainLink (LINK) is at the peak of another rally, still looking bullish. LINK Defies Market Crash, Boosted by Binance Derivatives LINK remains one of the assets to defy the market gravity this March, as prices went vertical both in dollar and BTC terms. LINK remains well above $4, breaking its all-time records with peak prices at $4.68. LINK also keeps adding Satoshis, reaching above 0.0005 BTC, with enthusiastic expectations of a bigger rally. This is not the first time LINK has defied the market, with rallies that were once deemed short-term pumps, or were even due to trading anomalies based on amateur order mistakes. But LINK has gone through multiple rounds of appreciation, with the last leg upward raising renewed enthusiasm. LINK is viewed as possibly discovering a new price range. The response of $LINK in this massive market wide dump has made me even more bullish than ever. It really is happening isn’t it frens? #link #chainlink — Iron £ord $hillink (@shillink) March 9, 2020 LINK also showed its mettle in resisting the biggest market dump for the year, where BTC wiped out close to 10% of its price overnight. LINK is just outside the top 10 of crypto coins, but defied the massive slide of top 10 market capitalization. During the late Sunday sell-off, the top 10 of coins erased more than $16 billion in value, matching the market cap of the United Airlines company, noted Timothy Peterson. $16 billion in Top 10 #crypto market cap lost in the past 24 hours. That's the size of United Air Lines ($UAL) #bitcoin pic.twitter.com/btHTuz9jYF — Timothy Peterson (@nsquaredcrypto) March 8, 2020 Based on volume reports, LINK is still relying on Binance for the bulk of its adjusted volumes. Binance spot trading has liquidity above $475,000 per day. But based on total volumes, the Binance derivatives market is what drives the LINK market price to even more rapid appreciation. Adding futures markets means LINK can respond much more rapidly to sentiment, especially after becoming one of the few crypto assets to offer a hedge against BTC price risk. LINK Among Biggest Crypto Gainers, Growing 10 Times since 2017 LINK is not immune to correction, as the price retreated a bit to $4.26. The asset also showed signs of following the deepening slide. But until now, LINK is also among the most successful crypto tokens. As a latecomer, LINK even defied most of the 2018 bear market, and went on to gain 968% net in the past couple of years. #LINK is up 968% since the BTC peak on Dec 18, 2017 while $BTC is down over 54%. In addition, no other crypto has had a positive return since then. That is some really serious relative strength. LINK is a paradigm shift. pic.twitter.com/4UrlTdkpmE — 🔱 Dan C 🔱 (@compwiz4u) March 3, 2020 The ChainLink project is also instrumental to the crypto space, by providing reliable oracle data for multiple DeFi projects, boosting automation in trades and smart contract deployment. What do you think about the latest LINK rally? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @Chainlinkgod @nsquaredcrypto @shillink

Bitcoin Market Now 100x Smaller Than Negative Yield Bond Market

Recent research shows as much as 27% of bonds offer negative yields. The market is now 100x larger than the size of the Bitcoin market.
Recent research shows as much as 27% of bonds offer negative yields. The market is now 100x larger than the size of the Bitcoin market. Bond Market 100X Larger than Bitcoin Market Cap Bonds have always been a low-risk, low-yield asset. Now, as stock markets still teeter near highs, bonds are back in fashion. But based on Deutsche Bank research, as much as 27% of debt instruments have negative yields. Gabor Gurbacs, digital asset strategist at Van Eck, noted this yield anomaly. According to Deutsche Bank, 27% of bonds in the world have negative yield with a total market value of ~$15 trillion or roughly 100x of #Bitcoin’s market cap and 2x #gold’s market cap. pic.twitter.com/Uxm0BEJFtC — Gabor Gurbacs (@gaborgurbacs) March 7, 2020 The global debt market is one of the indicators for a potential crisis in other asset classes. The bond market is immense, holding 100 times more value in comparison to the Bitcoin (BTC) market capitalization. Gold markets are also much more mature in comparison to BTC. Currently, gold is still near its highest price, at $1,674.52. The asset showed signs of being a safe haven in the past year, though its gains were limited in comparison to BTC. At the same time, BTC is not showing signs of behaving like a safe-haven asset after the recent sell-off on the markets at the beginning of March. BTC also slid despite the accrued long positions, crashing closer to $8,712.05. The asset managed to hold above $9,000 for only a few days before failing to make a trek to $10,000. Negative Yields May Boost BTC Appeal for Risk-Seeking Investors Based on the bond market, BTC may also have a chance of appeal, especially in a case of negative interest rates. Such rates mean large-scale financial players can gain access to significant capital, but they also harm personal finance on a small scale. Bond yield anomalies are also viewed as a sign of expectations for an upcoming recession. Jimmy Song, BTC proponent, has noted the risk of negative interest rates for personal finance. Negative interest rates are coming, and that means that Cantillon effects will accelerate.The leverage the rich will be able to use increase their wealth at the expense of everyone else is going to be scary.#Bitcoin fixes this. — Jimmy Song (송재준) (@jimmysong) March 7, 2020 But negative interest rates would also encourage more debt-based spending, clashing with the bitcoin ethos of sound money. However, an abundance of fiat also means the valuation of BTC may follow the general trend of rapid appreciation for all asset classes. Negative interest rates are also shown as a case for investing in bitcoin with a long-term view as a potential source of faster appreciation. With even more rapid liquidity injected into global finance, some investors may choose the conservative path of bonds. But for retail investors, BTC is a source of diversification. People won’t flock to reserve currencies. Who knows how much their respective Central Banks will print. People will not flock to treasuries and sovereign debt once all hit negative yields. Gold? Who knows how much gold their is? What can you do with it? Best option $BTC — Crypto Dogs (@crypto_dogs) March 6, 2020 Negative interest rates also mean a higher potential inflation and nominal prices, as bitcoin gains may offset the inflation. What do you think about negative bond yields and their effect on bitcoin markets? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @crypto_dogs @jimmysong @gaborgurbacs 

United States SEC Wins $16M Case Again ICOBox

United States SEC Wins $16M Case Again ICOBox
The ICOBox platform received a court decision in absentia, after failing to defend its side against the accusations of the US Securities and Exchange Commission (SEC). ICOBox Investigated for Aggressive Token Promotion ICOBox was sentenced to repaying $16M for acting as an unregistered broker. The startup reportedly organized multiple token sales which were deemed to represent unregistered securities. The US Securities and Exchange Commission started the action against ICOBox in September 2019, as part of its series of court cases and fines against prominent ICO projects. Reportedly, ICOBox not only sold its own ICOS token, but also helped raise up to $650 million for more than 30 clients. The ICOS sale alone raised more than $14.5 million, running between August 15 and September 15, 2017. The ICOBox project was highly active in the boom years of token sales, while the SEC was still not caught up with the exact nature of ICOs. But the sentence, arriving more than two years after the launch of ICOS, shows that regulators are catching up with ICO projects. The ICOBox case shows that the SEC is also capable of reaching out to slam a fine on projects based in Singapore. ICOBox was launched by a team of Russian nationals, headed by Mike Raitsyn. The project’s founder, Nikolay Evdokimov, was the first to receive a warning from the SEC for overly-aggressive promotion. Defendants have, directly or indirectly, made use of the means or instrumentalities of interstate commerce, of the mails, or of the facilities of a national securities exchange in connection with the transactions, acts, practices and courses of business alleged in this complaint SEC Closes the Lid on ICOBox Evdokimov withdrew from ICOBox in late 2018, and the project closed soon afterward. Currently, the ICOBox site is down, and neither Evdokimov, nor other representatives of the team showed up at court for the last hearings. According to the SEC, After service of the complaint was effected at ICOBox’s office, the premises was vacated, with several months’ rent left unpaid… Efforts to email Evdokimov’s last known address … garnered no response (though no emails bounced back) The agency also noted there is no known status of ICOBox as a registered company, and claims of having 150 staff around the world remain unverified. Moreover, the promises of the ICOS token retaining its value also misled investors. ICOS initially traded above $55, before losing most of its value and halting trading in November 2019, with a price of $2.41. What do you think about the sentencing of ICOBox? Share your thoughts in the comments section below! Images via Shutterstock

Bitcoin Price Must Break This Level to Turn Bullish Again

Bitcoin Price Must Break This Level to Turn Bullish Again
After breaking above $9,000 and finding support, Bitcoin price is seeking direction again. But the leading asset must cross over the $9,500 resistance to initiate another bull rally, analysts state. Bitcoin Price Bounces Off $8,550, Faces Resistance Above $9,000 Bitcoin price managed to bounce off the recent lows in the $8,500 range. But standing above $9,100 support is not enough to set a bullish direction. A more rapid price move, as BTC gets closer to the block reward halving, will depend on a trek above $9,500. In March, crypto analysis reveals $9,500 is the key to regaining five-digit prices. After a weekend of little activity, bitcoin trading volume has taken a backward step to $37 billion in the past 24 hours. Josh Rager believes long positions can only be taken temporarily, with more setbacks possible unless BTC breaks decisively above $9,500. In historical terms, BTC has shown a strong resistance at $9,500. $BTC Any long trade is a short term trade until Bitcoin can break and hold above the $9500s $9400s to $9500s has played a important S/R level since June 2019 – breaking above this level will be key for bullish continuation My take profit targets start near $9400 pic.twitter.com/zjjXoaBrQA — Josh Rager 📈 (@Josh_Rager) March 7, 2020 Moving to a new yearly high may pass through stunted trading, as BTC is yet to regain several resistance levels. CryptoCred also concedes that a move above $9,500 would invalidate the bearish case. Even under $9,200, bitcoin price is retesting the monthly resistance, though trades based on bullish expectations depend on the day’s closing level. $BTC Retesting monthly resistance after a weak monthly close. We're close to bearish invalidation ($9500s reclaim) therefore a good area to do business. My preferred entry would be a deep spike through yesterday's high (early sellers' stops) which closes at/below grey box. pic.twitter.com/TMVBwPfwdi — Cred (@CryptoCred) March 6, 2020 The Worst Bearish Scenarios So Far Avoided Drop to $5,000 So far, bitcoin price has defied the more bearish predictions for steep drops to as low as $5,000. Most trades are concentrated in regaining support levels above $8,000. In the past month, BTC has become even less volatile. The volatility index shrank to 2.85% after briefly spiking above 4% in January. In the past weeks, bitcoin has often stayed within the range of a few hundred dollars, though still showing the capability of moving by $1,000 in a day. The trek to $9,500 may be varied, with some contentious points of support and resistance. For now, BTC stopped below $9,200, with several smaller key levels to regain. #btc bounced near 9200. If it can stay above 9250, next target is 9475. As long as it stays under 9500, I'm not bullish yet. pic.twitter.com/fpNcKfSRX1 — Jan Le (@jangirl5m) March 7, 2020 Despite high price action, BTC has not repeated previous periods of almost continuous growth, and is still range-bound. For now, bitcoin price stays within a long-term bullish framework, but future markets have to work out complicated moves around certain price levels. BTC market cap dominance has also fallen toward 63.2%, mostly due to the hike of some of the larger altcoins. But without a larger BTC price move, an altcoin season is not yet announced, instead remaining limited to separate altcoin pumps. What do you think about the potential of BTC to rally again? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @jangirl5m @CryptoCred @Josh_Rager