Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China has warned that stablecoins like Tether (USDT) pose “risks and challenges to the international monetary system, and payments and settlement system”. Fan did not even spare Bitcoin (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.” Other than the FUD from China, several traders have been focusing on the unlocking of a large amount of Bitcoin at the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading firm QCP Capital said the …

On July 8, Max Keiser and Stacy Herbert hosted an Elon Musk-inspired show in Austin, Texas. Aptly named “F*ck Elon,” the event, which included a large number of Bitcoin (BTC) maximalists, was surely a rowdy affair. Keiser is known for many things, but restraint is not necessarily one of them. Although we can debate the merits of such a provocatively titled party, Musk’s divisiveness is certainly not up for debate. Earlier this year, the Bitcoin community — including the maximalists — were vocal supporters of Musk. He saw value in Bitcoin and Bitcoin saw value in Musk, one of the …

Dogecoin (DOGE) may need a new marketing strategy after the latest publicity stunt from Elon Musk moved its price by less than 8%. In a tweet on Thursday, “Dogefather” Musk argued that Dogecoin could do a better job at payments than Bitcoin (BTC) or Ether (ETH). Musk: BTC, ETH “slow” with high fees The latest in a long line of plugs, the Tesla and SpaceX CEO was responding to crypto YouTuber Matt Wallace, who revealed excitement about an upcoming protocol upgrade. “BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost …

Bitcoin’s (BTC) range-bound action seems to be increasing the confidence of institutional investors looking to resume investing in cryptocurrencies. Proof of this comes as Marshall Wace, a London-based hedge fund, announced plans to invest in the digital asset space, according to sources at the Financial Times. A survey of wealth managers and institutional investors already holding crypto, from the U.S., U.K., France, Germany, and the UAE shows that 82% of the respondents expect to increase their investments in digital assets by 2023. The research shared with Cointelegraph claims that only 7% of the participants plan to reduce their exposure to …

The weekend rally in cryptocurrencies was led by Bitcoin (BTC) but this move was not supported by huge trading volumes. According to on-chain analysts at CryptoQuant, the low trading volume suggests that “whales are staying low without much action.” However, Bitcoin has successfully held the $30,000 support for two weeks, which suggests that accumulation is taking place at lower levels. The Crypto Fear and Greed Index rose to 29 on July 5, its highest level in about three weeks. This suggests that aggressive investors may have started bottom fishing. If bulls successfully hold the $30,000 level in Bitcoin for a …

American users of the popular eToro trading platform are taking up altcoins with growing conviction, with the likes of Cardano's ADA and Dogecoin (DOGE) becoming more popular buy-and-hold assets than Bitcoin (BTC). New research shared with Cointelegraph showed that ADA is the most popular cryptocurrency held by United States-based eToro users, up from third place in the second quarter of 2020. After not making the rankings at all a year ago, DOGE is now the second most-held cryptocurrency among U.S.-based investors. Rounding out the top five are Tron, Ether (ETH) and Bitcoin, which saw its Hold Rank fall from first …

Dogecoin (DOGE) prices surged but did not skyrocket after receiving another endorsement from Tesla CEO Elon Musk on Twitter on July 1. The billionaire entrepreneur published a tweet at around 8:43 am UTC — a Godfather-themed meme that shows Marlon Brando's iconic character, Don Vito Corleone, with the text "YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE RUNNING DOES NOT COMPILE." Meanwhile, Musk captioned the tweet "Release the Doge!" Release the Doge! pic.twitter.com/9bXCWQLIhu — Elon Musk (@elonmusk) July 1, 2021 Seconds after the tweet was posted, the DOGE/USD exchange rate surged from $0.24 to $0.261 …

Bitcoin price staged a mild resurgence at the start of this week but data from Glassnode suggests that its new BTC investors who came late to the party and are dumping their positions in a panic. This transfer of crypto assets from speculators or momentum chasers to long-term investors is a positive sign. This lays the groundwork for the start of the next bull run but it may not happen in a hurry. At the moment, institutions are unlikely to buy aggressively and propel the price of Bitcoin higher because there is still a chance that they can accumulate at …

Elon Musk, the at-times controversial SpaceX founder and stop-and-go crypto supporter, voiced his support late Sunday for a set of major updates to the Dogecoin blockchain. The changes would drastically redesign the cryptocurrency’s software architecture and alter its tokenomics. The popular “joke crypto” appears to be gearing up to become a serious utility coin after a massive influx of capitalization earlier this year. It remains to be seen whether the updates Musk supports would be good or bad for the coin’s holders should they be adopted. In a Reddit thread Sunday, Dogecoin core developer Patrick Lodder summarized the proposed updates: …

Bitcoin (BTC) is attempting to stage a relief rally but analysts at JPMorgan Chase believe that the short-term setup looks challenging. However, the analysts also pointed out that the crypto markets had started a healing process. A sign of this 'healing process' was seen when the crypto markets did not react negatively to the news that the United Kingdom’s Financial Conduct Authority banned Binance Markets Limited from undertaking “any regulated activity in the UK.” When a market reacts negatively to bad news, it is a sign that weaker hands are panicking and dumping their positions. On the other hand, a …

In a battle of animal-themed cryptocurrencies, a bullock-branded, anonymity-focused protocol is making the case that it is faster, safer and cleaner than the shiba inu-faced joke coin that became a top 10 cryptocurrency this year, largely on the strength of Elon Musk’s memes. Animals aside, the Oxen privacy coin does have some reason to compare itself with market darling Dogecoin. Speed, for one. While DOGE’s block time is one minute compared to OXEN’s two, Oxen can use what it calls Blink technology, which is the default setting for OXEN to make the transactions nearly instant. On top of that, Oxen …

Bitcoin (BTC) price remains jittery and throughout this week, every relief rally is being sold into. This is a classic bear market reaction and may not end in a hurry. However, the current price action should not worry investors because the longer the time spent in a bottoming formation, the stronger the base for the next leg of the up-move. In a recent note to investors, JPMorgan said that Bitcoin’s fair value may remain between $23,000 and $35,000 over the medium term. The bank pointed out that outflows from crypto Bitcoin funds since the fall on May 19, show a …