CMT Digital Head Says BTC Trading Still Strong Despite Global Conditions

Amid global coronavirus fears and plunging mainstream markets, Bitcoin (BTC) trading has remained largely unchanged, according to CMT Digital head of trading and business development, Brad Koeppen. “Bitcoin trading has not been that different,” Koeppen told Cointelegraph in a March 31 email. “Volatility and volumes saw an uptick as BTC sold off with the traditional markets but high volatility is nothing new in Bitcoin.” Koeppen also referenced the problems seen on exchanges around the time of Bitcoin’s massive drop between March 11 and 13, noting that this is “nothing new”…

‘Can You Imagine BTC Price if it Had Scaled?’

American Institute for Economic Research editorial director Jeffrey Tucker reignited the long-running Bitcoin scaling debate with a tweet earlier today. The economist — who has long been a proponent of Bitcoin (BTC) — suggested the current price is much lower than it otherwise would have been because the underlying technology has not been “properly scaled”. On March 31, Tucker tweeted: I’m not unimpressed by a $6K price of BTC. I was blown away when the thing reached $30.00. But can you imagine the price today if the thing had properly…

Lowest Exchange BTC Balances Since 2019 — Calm Waters Ahead?

Bitcoin (BTC) balances of the major exchanges are at their lowest point since 2019. Calm waters ahead? From a high in mid-January, the number of Bitcoins on deposit at major exchanges has dropped significantly in following months. This trend accelerated after the recent market collapse. Source: Glassnode Further supporting this trend is the “exchange net inflow” data, which is derived by subtracting Bitcoins leaving exchanges from Bitcoin moving into exchanges. The net inflows have been negative for much of 2019 with a short positive spike around the most recent meltdown.…

BCH, BSV Block Halvings Will Force Miners to Bitcoin (BTC) — Report

Bitcoin (BTC) miners will continue to capitulate due to low prices, but upcoming events for Bitcoin Cash (BCH) and Bitcoin SV (BSV) will fuel the turmoil, says a new forecast. In the latest edition of its State of the Network reports on March 31, Coin Metrics argued that Bitcoin was in a spiral of miner capitulation. This, it said, would get worse before it got better. Coin Metrics expects “pattern of capitulation” Despite BTC/USD recovering over 70% in two weeks since hitting lows of $3,700, prices are still “almost certainly…

Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

Bitcoin (BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday. As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment of nearly -16%. The difficulty adjustment is how the Bitcoin network adapts to the changing mining power on the network, keeping its issuance rate at a fairly steady level. Cryptocurrency market performance since March 27th.…

BTC Worries, Buterin ‘Embarrassed,’ Blockchain Fights Coronavirus: Hodler’s Digest, March 23-29

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week A calmer week for Bitcoin — but price may not return to $10,000 soon Bitcoin remained largely steady in the mid-$6,000s for most of this week but failed to punch through levels above $6,900. Analysts, such as Cointelegraph’s Michaël van de Poppe, have warned BTC…

Bitcoins on the Move — Is BTC Price Inversely Correlated to Mempool Size?

After making a strong recovery from $3,775 to $6,450, Bitcoin’s (BTC) price has traded in a tight range which has seen the price struggle to push above resistance at $6,400 and $6,850. Despite the current pullback, technical indicators like the Stock-to-Flow model and the network’s consistent growth in hash rate show that investors have regained a small amount of confidence. Another factor worth considering is Bitcoin’s mempool size as it also can provide some insight into how buyers and sellers are reacting during these uncertain times. Cryptocurrency market weekly overview.…

BTC Will ‘Come of Age’ in Crisis, May Top All Time High

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months. The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis. Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is…

Bitcoin Price Volatility Alert as 50K BTC Options Open Interest Expires

Bitcoin (BTC) has fallen 4% in the past 24 hours, but its losses may be down to an old culprit which has already sparked market volatility and selling pressure. According to data from online monitoring resource Skew, March 27 will see the expiry of Bitcoin options open interest worth 49,400 BTC ($328 million).  BTC price choppy after $7K rejection By far the largest expiry from now until the end of June, the event may already be pressuring BTC/USD, which saw rejection at $7,000 on Thursday. Having fallen to lows of…