It is no longer news that Bitcoin and other digital assets have continued to gain mainstream adoption in terms of the number of people trading the digital asset. While that is already seen as a win, Bitcoin’s adoption as a currency is a more complex issue.
UK-based investment manager Ruffer entered the Bitcoin market last November with an investment of around $600 million. It didn’t take long for the company’s bet on BTC to start paying off nicely, as the company managed to reap a $750 million profit just a few months later while still holding a sizeable Bitcoin position.
Over the years, we have seen immense fluctuations in the price of Bitcoin, the leading digital asset on the market. Even though some groups of individuals attempt to predict price movements, a portion of the cryptocurrency investing population prefers to hold digital assets over a long time.
3rd June 2021, Santa Monica, CA: As a proud participant of the Bitcoin 2021 Conference, CoinCircle first created this feature exclusively for attendees of the BTC2021 Miami conference – and in celebration of everything that is Bitcoin, CoinCircle has now decided to share this special QR code with the world.
Yesterday marked an alarming turn in the cryptocurrency market as crashes in the Bitcoin and Ethereum markets led other top digital assets to sustain big losses as well. Presently, Bitcoin is trading at about $40,100 after a recovery from the massive decline seen yesterday, in which the price of the world’s top cryptocurrency fell to around $30,000. Ethereum, on its part, is performing worse than Bitcoin as at the filing of this report as the second digital asset according to market cap is seeing a 24-hour loss of around 3.7% and trading at $2,700.
In the past week cryptocurrency markets faced quite a hefty correction. The bearish market, which was triggered by Elon Musk’s announcement that Tesla is halting Bitcoin payments citing environmental concerns as the reason, caused the total market capitalization to drop by a whooping $400 billion from $2.45 trillion on May 9 to $2.05 trillion on May 16. Nevertheless, some projects, such as Cardano (ADA), Kusama (KSM) and Polygon (MATIC) managed to defy the general downtrend by posting gains of over 10% in the last seven-day period. Will the bearish market continue throughout week 20? Which cryptocurrencies are the most likely to rebound or defy the general trend? We recommend you to read our this week’s top 3 coins to watch article, in which you will find a diverse selection of cryptos worth keeping an eye on this week.
The global cryptocurrency market is seeing a general uptrend, coming in as a healthy bullish resurgence following a downcast rally seen across the board yesterday. Bitcoin (BTC) and by effect Ethereum (ETH) is particularly energized as Chinese tech firm Meitu Inc doubled up on its accumulation strategy. The firm scooped up an additional 175.6 Bitcoins for $10 million bringing its total holdings to 31,000 ETH and 940 BTC.
With the first quarter of 2021 already behind us we are now already looking forward towards what Q2 2021 will bring. In Q1 2021 cryptocurrencies became a trillion-dollar asset class for the first time, as the total market capitalization of the sector climbed from $777 billion to $1.87 trillion. Will the bull market continue or is a market correction behind the corner? Will the non-fungible token (NFT) hype cool down or will the sector find new, unprecedented use cases for these tokens? And most importantly for the up-and-coming investors, which coins are the most likely to end in the green, perhaps even outperform the industry’s average growth? To answer this question, we advise you to continue following our Top 3 Coins to Watch series.
Many people buy Bitcoin in hopes of future profits. The asymmetric risk-reward that the popular cryptocurrency offers has drawn many investors of different backgrounds, all of which are looking for ways to capitalize on the trend.