A sea of red greets traders on Wednesday as blame shifts to leveraged long traders and the need to liquidate their positions.
MARKET UPDATE
Bitcoin (BTC) extended its price drop on Wednesday amid warnings that excessive long positions needed to be flushed out to allow for fresh gains.
The Sveriges Riksbank said that CBDC technology still requires further investigation.
NEWS
After completing the first phase of its digital currency pilot project, Sveriges Riksbank has found some critical issues that must be addressed before Stockholmers can buy coffee and kanelbullar with e-krona.
In a recent study, Sweden’s central bank presented the first results of its central bank digital currency pilot on a network based on R3’s Corda blockchain.
The Riksbank simulated core aspects of a potential CBDC system, including liquidity supply via the Riksbank’s settlement system, RIX, and network members serving as e-kronor distributors. …
Visa plans to allow partners to settle fiat transactions with crypto
Visa’s partners will be able to exchange USDC over the payment network to clear transactions made in fiat currency.
NEWS
Major credit credit provider Visa is piloting a program that will allow its partners to use the Ethereum (ETH) blockchain to settle a transaction made in fiat.
In a Monday announcement, Visa said it will be partnering with cryptocurrency exchange platform and card issuer Crypto.com to offer a crypto settlement system for fiat transactions later this year. …
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Bitcoin is now worth more than Visa and Mastercard combined
The largest cryptocurrency also recently beat the world’s three biggest banks by market cap, data confirms.
MARKETS NEWS
Bitcoin (BTC) did more than hit $60,000 per coin last week — it also became worth more than the world’s three biggest banks combined.
According to publicly available data, the largest cryptocurrency surpassed the three highest-valued global banking giants by market capitalization.
Bitcoin market cap blasts past financial stalwarts
At its all-time highs of $61,700, Bitcoin’s market cap was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America…
What gives Ether token its value?
Ethereum’s Ether coin is arguably valuable for different reasons than Bitcoin.
HOW TO CRYPTO
Bitcoin holds the top spot as the world’s first and largest cryptocurrency. The coin carries worth based on its position as a store of value capable of transacting value globally and comparatively easier than other similar assets, such as gold. Ethereum’s asset, Ether (ETH), has a different value proposition, arguably valuable for a number of reasons.
“Ethereum derives its value from a number of different factors, including gas fees, its usage as collateral, its ability to be lent and borrowed…
Bitcoin bull run is still in the early stages, key on-chain indicator shows
The Bitcoin rally is still at an early stage, according to one key metric, despite the overnight pullback.
MARKET ANALYSIS
The price of Bitcoin (BTC) saw a minor correction on the day as the global stock market pulled back.
The top cryptocurrency dropped by nearly 8% in the last 24 hours, retracing most of the gains it recorded during yesterday’s rally on March 3.
Bitcoin bull run is still at an early to mid stage
According to William Clemente, a cryptocurrency analyst, Glassnode’s Reserve Risk indicator shows…
The next five years will see the first billion people opting to store their wealth using Bitcoin simply using mobile devices, says the MicroStrategy CEO.
MARKETS NEWS
Bitcoin (BTC) will be the savings method of choice for 1 billion people on their phones by 2026, MicroStrategy CEO Michael Saylor predicted.
In an interview with CNBC on Feb. 23, Saylor, whose company owns in excess of 70,000 BTC, continued his public Bitcoin advocacy, calling it “the dominant digital monetary network.”
Saylor: Billions will choose Bitcoin for savings
Saylor was speaking a day after United States Treasury Secretary Janet Yellen described Bitcoin as “inefficient,” comments that accompanied a price…
As Bitcoin wobbles following a spurt to above $58,000, concerns mount about the depth of a possible inbound correction.
MARKETS NEWS
Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run — what’s next for hodlers?
As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors to consider when forecasting this week’s price action.
The price of Bitcoin keeps climbing higher, but one key support level must hold for the rally to continue.
PRICE ANALYSIS
The current Bitcoin (BTC) price bull run seems almost unstoppable right now as BTC just notched another new high on Feb. 17.
The psychological barrier of $50,000 finally broke on Tuesday after multiple tests of this level in the previous week. In addition, banks are revealing their interest in BTC, and more public companies are starting to hop on the Bitcoin bandwagon, with the first German company revealing its position today.
This rally could now extend to $63,000. Meanwhile…
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