July 2022 / 86 posts found
MicroStrategy Stocks Plunged 10% After a Downgrade to “Underporformance”
Cryptocurrency Jefferies analyst Brent Thill downgraded the software analytics provider to “underperform” from “hold” as the ongoing crypto shambles failed to demonstrate strong signals for a market reversal. The downgrade that categorized the stock from “hold” to “underperformance” maintained its price target at $180. Following the news and bitcoin dipping below $21,000 on Tuesday, shares of Microstrategy went down over 10% to $237. With the total market cap at $2.8 billion, MicroStrategy now holds 129,200 BTC worth approximately $2.7 billion. After spending nearly $4 billion on accumulating its stash, the NASDAQ-listed giant sits on an unrealized loss of a whopping […]
Bitcoin (BTC) Price Might Drop 33% & Reach Bottom At This Level
Bitcoin After Bitcoin lost its crucial price level of $22,000 at the start of this week, the entire crypto space seems to be following it on its downward plunge. This price movement has influenced the global crypto market capitalization to fall below $1 trillion. A popular analyst and trader, Tone Vays, believes that Bitcoin will see new lows as the currency repeatedly fails to maintain its bullish price movement. Vays asserts that the flagship currency is on the verge of witnessing a massive price drop of 33% from its current value to reach the $14,000 mark as it failed to […]
Binance Reports Massive Ethereum Gas Fee Utilization Here’s Why
While the world’s first cryptocurrency, Bitcoin, has lost its grip over the important price level of $22,000, the lead altcoin, Ethereum, to has suffered a pullback. Recently, Ethereum had made a monthly high of $1655, but with the scheduled FOMC meeting on July 27, Ethereum has plunged by 13%. At the time of publication, Ethereum is selling at $1,414, with a fall of 8.16% in the last 24hrs. Alex Svanevik, CEO at Nansen, a blockchain analytics firm, claims that as Ethereum’s gas fee has dropped, Binance has popped in to take advantage of this as the exchange is moving its […]
August To Be A Decisive Moment For Bitcoin Price Ahead Of FOMC & GDP Report
Bitcoin Since May, 2022, after Terra (LUNA) collapse, the crypto market is not in that good condition with an increase in negative news around the space. Even now, the overall crypto market sentiment is not positive with the increased price volatility along with declining interest in terms of Crypto derivatives. As per the report, in the month of June, there has been a massive decline in the derivatives trading volume in well known exchanges like Binance and OKX. Now, it’s fascinating to know how Bitcoin will see its price movement for the month of August 2022. Bitcoin August To Be […]
Inflation Rates to be Normalised in 2023, Will this Ignite a Bitcoin Bull Market Then?
The FOMC meeting is fast approaching and the entire world is pretty much eager to know the updated inflation rates. The rates in the past 2 months have broken the record of being the highest in the past 40 years, while the previous rise also marked the highest single-spike of all time. Therefore as per the experts, the crypto space is expected to be volatile throughout the week. The BTC price plunge earlier was ignited by multiple events like LUNA-UST, Celsius, 3AC, etc, & later fuelled by FED rates. Now when the prices are attempting to make a move towards […]
236K BTC Sold by Large Institutions Since Terra’s Implosion in May
Cryptocurrency In a recent Twitter thread, Arcane Research analyst Vetle Lunde revealed how many Bitcoin institutional investors had sold since Terra’s carnage kicked in, thus tanking the whole crypto market. In his estimate, Tesla sold 29,060 BTC at an average price of $32,209 in May. Cryptocurrency Forced Selling In Lunde’s view, massive institutional blow-ups in the past two months started from Terra’s collapse on May 10th – when Do Kown sold over 80K BTC to defend the UST peg. Since then, the contagion has spread quickly across the industry and deepened the selling pressure, leading to 236,237 BTC being sold […]
