BTC, ETH, XRP, BCH, ADA, BSV, BNB, LTC, CRO, LINK

The Nasdaq has regularly been making new highs for the past few days, which has resulted in a strong rally in a few technology companies. Along with this, a few stocks in the S&P 500 are also on a tear, pushing their valuations to astronomical levels. While the U.S. equity markets are on a strong footing, gold is not to be left behind. It has also risen to a nine-year high, which shows that assets that are perceived as risky and safe havens, both are rallying at the same time.…

Nigerian Scammers Used BTC & Gemini Exchange to Siphon Millions

The two Nigerians jetsetters who filled their Instagram accounts with pictures of their ostentatious wealth were extradited from Dubai to the United States. According to the FBI, they were able to convert millions of dollars into Bitcoin (BTC) via the Gemini exchange. Transaction summary for Bitcoin address 16AtGJbaxL2kmzx4mW5ocpT2ysTWxmacWn. Source: Crystal Blockchain The two are Olalekan Jacob Ponle, also known as “Mr. Woodbery,” and “Mark Kain,” and Ramon Olorunwa Abbas, who used the aliases “Ray Hushpuppi” and “Hush”. The FBI complaint focused on the former’s activities and how he used Bitcoin…

Hacker stole 336 BTC from Crypto exchange Cashaa

U.K. based cryptocurrency exchange Cashaa reported hackers took more than 336 Bitcoin. The company has stopped all the crypto-related transactions, however, prima facia users are not affected by this hack.  In a media brief shared with Cointelegraph, Kumar Gaurav, CEO of Cashaa said that one of their wallets was compromised and more than 336 Bitcoin was sent to the hacker. He also suspects that hacker is from east Delhi, India. The company has filed a cybercrime incident report to the Delhi crime bureau with acknowledgment number 20807200031555 under the cryptocurrency…

Bitcoin S2F Model Creator Reveals 4 Reasons Why He First Bought BTC

Bitcoin (BTC) was the top choice of famous analyst PlanB thanks to its scarcity and zero likelihood of negative interest rates. In a series of tweets on July 7, the creator of Bitcoin’s stock-to-flow price model explained what drove him to buy the cryptocurrency. PlanB: “Most people are asleep” on BTC PlanB has become well known as an outspoken BTC supporter. His price model has undergone several incarnations, and currently predicts a Bitcoin price of $288,000 by 2024. So far, stock-to-flow has tracked Bitcoin’s metamorphosis with almost 100% accuracy. Before…

Bitcoin Futures Premium Shows That Institutions are Bullish on BTC

Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency. This premium is particularly clear while looking towards the CME – which seems to indicate that professional traders and institutions are particularly bullish on BTC at the present moment. This comes as Bitcoin and the entire cryptocurrency market faces an intense bout of abnormally low volatility, which has caused liquidity to dry up. Periods of low volatility coupled with limited liquidity are typically followed by…

Bitcoin Options Data Shows Investors Betting on $50K BTC Price in 2021

Over the past three weeks, $150,000 worth of Bitcoin (BTC) $50K call options for June and December 2021 strikes have been traded. LedgerX derivatives exchange has been intermediating these ultra bullish trades, but what could be the rationale behind them? There are some good reasons for buying options with such small odds, but paying $1,000 for the privilege of purchasing Bitcoin 440% above the current price in 18 months seems unreasonable.  Even considering an annual 100% volatility, which is quite high even for Bitcoin’s standards, the probability that the price…

Crypto ‘OG’ Thinks Altcoins Will Outperform BTC in the Near Future

Dan Morehead, the founder of the first crypto venture capital firm, Pantera Capital, believes that altcoins will outperform Bitcoin (BTC) over the next couple of years. Speaking at the Unitize virtual event, Morehead said that in the short-term, his firm is betting on altcoins: “And it’s our opinion that these altcoins and particularly smaller cap smart contract tokens are going to outperform Bitcoin over the next couple of years.” Portfolio altcoins are up 100% He emphasized that it would be incorrect to suggest that Pantera does not believe in Bitcoin.…

Bitcoin Hash Rate Hits Record Average High Defying BTC Price Bears

An essential Bitcoin (BTC) metric has hit a new all-time high as miners pledge ever more computing power to securing the network. Data from various resources including Blockchain confirms that on July 6, Bitcoin’s seven-day average hash rate reached a new peak. Bitcoin hash rate 7-day average beats March top The achievement follows several weeks of hash rate growth, with the seven-day average at 123.4 EH/s as of Monday. The previous record came in early March, just a week before the Coronavirus-induced crash severely disrupted both network and price activity.…