Benjamin Pirus

If Bitcoin doesn't break record highs right away, it wouldn't be the worst thing, trader posits

Trading sideways for a while could be healthy for Bitcoin. After its rise past $40,000, and a correction back to nearly $30,000, Bitcoin (BTC) has rebounded once again. Stalling before jumping back up past highs near $42,000 could be good for the asset, however, according to Brian Krogsgard, a trader and podcaster going by the name LedgerStatus on Twitter. “Bitcoin's correction was healthy in a strong bullish environment, mean reverting back to the 20 day moving average,” Kro

Bitcoin briefly loses its spot as top cryptocurrency — Wait, what?

Bitcoin's twin took over the number-one spot on CoinMarketCap. Bitcoin's market capitalization was briefly flippened today as Wrapped Bitcoin suddenly gained quadrillions of dollars in value. But crypto aficionados and maximalists need not worry: The move was a glitch on CoinMarketCap, which briefly displayed Wrapped Bitcoin (WBTC) as worth more than all other assets in the world combined. WBTC showed a behemoth market cap of about $432 quadrillion for a brief period (the tot

CME's Bitcoin futures facilitated over 11 million BTC in volume last year

Last year was a volatile one for Bitcoin and other cryptocurrencies. The Chicago Mercantile Exchange, or CME, recorded significant volume for its Bitcoin (BTC) futures trading product over the course of last 12 months. “More than 2.2+ million contracts were traded in 2020,” a CME representative told Cointelegraph. Each cash-settled Bitcoin futures contract at the CME is worth the dollar value of five Bitcoin.The trading hub recorded higher than normal numbers as Bitcoin’s pri

Trader comforts the market’s traumatized first timers amid falling prices

Bitcoin’s recent 28% drop has been a somewhat harrowing experience for some first time buyers. Known for its volatility, Bitcoin (BTC) recently fell more than $11,000 over a four-day period after weeks of soaring price action. Amid a fresh bull cycle, Bitcoin has likely picked up its fair share of new buyers — some of whom may not be familiar with the asset’s wild price swings, according to comments from Cheds, a crypto trader and analyst on Twitter. Cheds holds a level I C

Underhyped? Bitcoin sentiment lags despite bull run

Bitcoin hype has never been quite the same since 2019, according to this metric. Since its drop below $4,000 in March 2020, Bitcoin (BTC) has ridden a bullish trend all the way past its 2017 all-time high, recently hitting almost $42,000. During that time, however, Bitcoin’s Twitter activity has underperformed in comparison to its price. Looking at information from crypto data outfit The TIE indicates that Bitcoin’s price is traveling above its Hype-To-Activity Ratio — a met

Bitcoin's recent correction could be retail-driven, Nexo CEO speculates

Price retracements in bull markets can occur amid an overall macro-bullish backdrop. The price of Bitcoin (BTC) has dropped substantially since Jan. 8, totalling a decline of more than $10,000 at time of publication. Retail investors could be part of the rationale behind the drop, according to Nexo CEO Antoni Trenchev. “The price correction we’re seeing was brought about by retail investors following the lead of institutions that created the Bitcoin high,” he told Cointeleg

Bitcoin's recent correction could be retail-driven, Nexo co-founder speculates

Price retracements in bull markets can occur amid an overall macro-bullish backdrop. The price of Bitcoin (BTC) has dropped substantially since Jan. 8, totalling a decline of more than $10,000 at time of publication. Retail investors could be part of the rationale behind the drop, according to Nexo co-founder Antoni Trenchev. “The price correction we’re seeing was brought about by retail investors following the lead of institutions that created the Bitcoin high,” he told Co

Bitcoin’s short-term price trajectory could be bleak, says Celsius CEO

As it stands, Bitcoin’s price has fallen more than $10,000 since Jan. 8. Healthy price corrections are generally part of market bull runs. With one such drop currently underway, Celsius’ CEO Alex Mashinsky thinks $16,000 could be in the cards. “I have been predicting that Bitcoin and many altcoins will hit new all-time highs during 2021 and beyond,” Mashinsky told Cointelegraph. “Still, we will see several corrections, like what is going on today, that will allow savvy invest

Chamath Palihapitiya sees Bitcoin as insurance against uncertainty

"The fabric of society is frayed," said the former Facebook exec. Bitcoin’s (BTC) price has risen dramatically over the past days and weeks, recently wheeling past $40,000. An asset largely untied to governmental authority, Bitcoin is a hedge against global uncertainty, according to venture capitalist and billionaire Chamath Palihapitiya.Citing a possible five or 10-year time horizon, Palihapitiya said he thinks Bitcoin will likely reach $200,000 at some point. “The reason is

When is Bitcoin's macro top? Industry player speculates

Bitcoin has ridden a tremendous price rally so far in 2021, but such growth cannot go on forever. Bitcoin's (BTC) price momentum recently pushed the asset to almost $42,000 per coin. It has more than doubled in price over the past two months, breaking the previous record highs that it set back in 2017. Podcaster Nathaniel Whittemore recently gave his opinion on methods of spotting a macro bull market top for the digital currency.“There isn’t really a macro top, in the sense

Bitcoin bull run could end if institutions go under, Komodo exec speculates

The likelihood of such a scenario is tenuous but not impossible. Famous for its volatility, Bitcoin’s price constantly waffles both north and south. While it recovered quickly from its pandemic-induced drop in March 2020, going on to break record highs, that doesn't mean the asset is bulletproof against a similar event in the future. The director of business development for smart chain platform Komodo, Jason Brown, recently weighed in on what could possibly cause another COVI

Tesla’s crypto-friendly CEO is now the richest man in the world

His last reported Bitcoin holdings were 0.25 BTC. Elon Musk, CEO of SpaceX and Tesla, has surpassed the net worth of Amazon founder Jeff Bezos.“Elon Musk has become the world's richest person, as his net worth crossed $185bn (£136bn),” the BBC reported on Thursday. The futuristic businessman gained staggering wealth last year. “Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people,” CNBC noted on Thursday, adding:“Tesla’s rocketing share pric

What type of situation, if any, could crash Bitcoin? VC firm partner speculates

Early pandemic concerns crashed Bitcoin in 2020. What else could cause a similar reaction? During the market downturn in March 2020, Bitcoin (BTC) fell over 50% in value across a two-day period. Traditional financial markets also dropped vastly in March. Although Bitcoin posted a standout recovery, going on to smash all-time price highs, one might wonder what, if any, condition could instigate a similar future drop for crypto’s largest asset. Dermot O'Riordan, partner at ven

This year will produce gains some might call 'shocking,' Diginex CEO says

With Bitcoin on a dramatic price run, 2021 could be an eventful year for the crypto industry. Bitcoin (BTC) just recently broke through $35,000 as part of a tremendous price rally, in part the result of Bitcoin’s limited supply, according to Diginex CEO Richard Byworth. “Bitcoin is in the process of starting its post halving bull cycle,” Byworth told Cointelegraph, adding:“The demand side of this equation has been expedited by enormous bank stimulus and investors seeking saf

Financial analyst agrees Bitcoin could be 'rat poison,' but not in the way you think

Even crypto industry experts might agree with Warren Buffett’s description of Bitcoin, under this interpretation. Famous investor and Berkshire Hathaway CEO Warren Buffet called Bitcoin "probably rat poison squared" back in 2018. In his 2020 fourth-quarter market letter, financial analyst Bill Miller agreed with Buffett’s description of the asset — but not without his own addendum.“Warren Buffett famously called bitcoin ‘rat poison,’” Miller said in his Saturday letter, addin

Bitpay’s CCO says Bitcoin could hit $45K in a month, but there’s a catch

Will institutions hold Bitcoin for years as initially thought, or sell for a quick profit? An increasing number of mainstream giants have put their money into Bitcoin in recent months. While some speculate that these firms intend to hold their Bitcoin investments for years, Bitpay’s chief commercial officer isn't so sure. He thinks that these companies may sell their holdings sooner than originally planned, if the price continues to move upward.“A lot of the institutional buy

The 2020 altcoin Hype-to-Activity index

Tracking the hype and price action of several of your favorite cryptocurrencies. Crypto fans love to defend their favorite assets. Just look at the XRP army and the LINK Marines. Does the hype expressed on Twitter match up with high trading activity though? A few altcoins throughout 2020 revealed mixed results. Using information from The Tie, a crypto data platform, Cointelegraph looked at assets’ Hype-To-Activity Ratios matched against their prices.“Hype-To-Activity Ratio me

Mark Cuban says he'll run for president if BTC hits $1M

As president of the United States, the Dallas Mavericks’ owner says he would give away Bitcoin to every citizen. Responding to a tweet from billionaire Chamath Palihapitiya, Mark Cuban said he would run as a U.S. presidential candidate, under a specific set of circumstances. “I'll run if BTC gets to $1m AND we can get commitments to donate 350 BTC to the Treasury each of the 4 yrs so that we can give 1 satoshi to every citizen each yr, that they must hold for 10 years,” the S

Institutions are thrilled that you’re selling, suggests OKCoin COO

What’s going on with Ether's and Bitcoin's recent price moves? A number of mainstream companies have picked up massive piles of Bitcoin (BTC) since summer 2020. Meanwhile, the asset surged past its 2017 record high near $20,000, recently cracking $34,000 before pulling back toward $27,700. The dip, however, has created some serious buying pressure, according to OKCoin’s chief operating officer, Jason Lau."Over the weekend, as Bitcoin prices hit fresh all time highs near $34k

Ether fees are at it again

Ethereum 2.0 continues to struggle with the scaling woes of its predecessor. Fees on the Ethereum network have reached an average of $10.20 per transaction as of Sunday, according to data from YCharts. The network's fees went higher on only two occasions in 2020, briefly averaging $12.54 in early September. They again rose to $11.69 near the middle of the same month.Ethereum network transactors faced high fees on and off last year as a partial result of the decentralized fina