Bitcoin lacks both active address growth and significant on-chain volume in a divergence from previous BTC price bull markets.
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Bitcoin active addresses 'concern' analyst despite 50% BTC price gains
Bitcoin (BTC) still lacks the on-chain volume and active address increases which characterize bull markets, research warns.
In a frank appraisal of the 2023 BTC price rebound, on-chain analytics platform CryptoQuant warned that Bitcoin may be weaker than it seems.
Active addresses not copying bull market paradigm
As on-chain metrics flip green and some even flash bull signals not seen in years, a healthy dose of suspicion remains among many analysts.
CryptoQuant contributor Yonsei_dent is among them, writing in one of the platform’s Quicktake blog posts this week that 2023 does not chime with previous bull markets.
The problem, he explains, lies in active addresses, which are not increasing in number despite BTC/USD gaining almost 50% year-to-date.
eNaira is 'crippled': Nigeria in talks with NY-based company for revamp
After multiple attempts to create an efficient digital currency, the Central Bank of Nigeria is turning to a New York tech firm to revamp the underlying technology.
Market makers in the crypto industry: party planners or bartenders?
In the crypto economy "party", market makers are the dancefloor, the logistics team, the bartenders and all the bars that traders and participants can attend.
Hut 8 CEO weighs in on the bull and bear markets from a mining perspective
Jaime Leverton has led digital asset mining player Hut 8 over the past two years, wading through the waters of the bull market of 2021 and the bear market of 2022.
Brit who consulted North Korea on crypto reportedly detained in Moscow
Earlier, Christopher Emms was released by Saudi authorities due to the lack of evidence against him.
Hope Finance exploit results in $2M stolen from users' funds
An Arbitrum-based algorithmic stablecoin project has fallen prey to a smart contract exploit, seeing $2 million stolen from users.
India expands national payment network to Singapore: What’s in it for crypto?
One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.
Bitcoin sees fresh $25K rejection as pre-Wall Street volatility returns
BTC price action once again slips while trying to overcome $25,000 resistance as the rejections keep coming.
Bitcoin sees fresh $25K rejection as pre-Wall Street volatility returns
Bitcoin (BTC) matched six-month highs on Feb. 21 as the latest attempt to flip $25,000 to support failed.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin unsettled before Wall Street open
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,250 on Bitstamp.
A firm rejection on hourly timeframes then saw the pair return below $24,750, maintaining a trading range in place throughout the weekend.
With a Wall Street on Feb. 20, Bitcoin faced three days of “out-of-hours” trading featuring thinner liquidity and more risk of volatile moves up and down.
These, to some extent, came to pass, with efforts to beat the prior week’s highs being short-lived, resulting in liquidations of both long and short traders, data from Coinglass confirms.
What is a grid trading bot, and how do you use it?
Grid trading is a quantitative trading strategy that involves placing automated buy and sell orders in an attempt to profit from the volatility of cryptocurrencies. Grid trading is a style of algorithmic trading that automates order execution by utilizing grid trading bots.
To create a grid of orders that covers a range of potential market movements, this method entails placing numerous orders at incremental price levels above and below the present market price.
Generally, the trading bot places buy/sell orders between a predetermined price range, constructing an automated trading grid. This automation allows crypto traders to benefit and make profits on even small price fluctuations and avoid emotional decisions thereby increasing profitability potential in both bull and bear markets.
This article explains what grid trading is, how grid trading bots work and their benefits for traders.
What is grid trading?
The price of cryptocurrencies fluctuates; therefore, seasoned cryptocurrency traders rely on crypto market charts to make trading decisions. However, it can be difficult to keep up when cryptocurrency prices swing wildly, resulting in missed opportunities and sometimes market FOMO. For traders trading in multiple crypto assets and on multiple cryptocurrency exchanges, things get complicated, and constant monitoring becomes a difficult task.
What is a grid trading bot, and how do you use it?
When carefully configured, cryptocurrency grid trading bots automatically execute orders to make profitable trades.
Nifty News: PROOF cancels NFT conference, Bitcoin meme creator cashes in $150K and more
‘Less interest than anticipated’ — PROOF cancels NFT event
Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds has confirmed that their flagship conference “Proof of Conference” scheduled for May has been canceled, citing “less interest than anticipated.”
The conference was first announced in early November. It was scheduled to run on May. 11 to May. 13 in Los Angeles.
However, Rose explained in a Feb. 20 letter to ticket holders that it wasn’t “the right time” for the conference:
“As you know, in the world of NFTs, timing is everything. And today, it’s time for us to recognize that right now isn’t the right time for the PROOF of Conference.”
Rose explained that he and his PROOF team considered alternatives, such as opting for a new location to Los Angeles — where it was set to be held — a smaller venue, reducing the scope of the event and lowering ticket prices.
Nifty News: PROOF cancels NFT conference, Bitcoin meme creator cashes in $150K and more
The conference known as “Proof of Conference” was slated to run in May has been canceled due to “less interest than anticipated,” according to co-founder Kevin Rose.
BingChatGPT 'pump & dump' tokens emerging by the dozens: Peckshield
Blockchain security firm Peckshield on Twitter said it has found dozens of pump-and-dump tokens purporting to be related to ChatGPT.
Hong Kong’s crypto ambition gets subtle nod from Beijing: Report
While China has cracked down on cryptocurrencies in the mainland, it's apparently taking a softer approach to Hong Kong's crypto hub aspirations.
US regulatory crackdown leads to $32M digital asset outflows: CoinShares
Institutional investors are feeling the heat as the SEC targets all aspects of the crypto industry in the United States.
Ordinals Litecoin fork took one week and was ‘quite simple,’ says creator
A small monetary bounty and an aptitude for coding were all it took to fork the Ordinals protocol to the world’s second-ever cryptocurrency network, Litecoin (LTC) earlier this week, its creator told Cointelegraph.
On Feb. 18, an Australian software engineer by the name of Anthony Guerrera posted a repository to GitHub that forked the Bitcoin (BTC) Ordinals protocol to Litecoin. This allowed for nonfungible token (NFT)-like assets on the Litecoin network in much the same way it had made it to Bitcoin earlier in the year.
In an interview with Cointelegraph, Guerrera said he was spurred to make a Litecoin Ordinal fork due to a 5 LTC bounty posted by the pseudonymous Twitter user Indigo Nakamoto on Feb. 11 that rose to 22 LTC, or about $2,000, to anyone who was first to successfully create a fork.
“I knew it was possible because Litecoin has taproot as well as SegWit,” Guerrera said, adding:
“I was in a bit of a mad rush to try and get it done as fast as I could.”
Ordinals Litecoin fork took one week and was ‘quite simple,’ says creator
The creator of a Bitcoin Ordinals protocol fork that works on Litecoin said he did it all for a crypto bounty of a few thousand dollars.
Bitcoin ‘fixes democracy’ and fights corruption: Human Rights Foundation
Human Rights Foundation CSO argues that Bitcoin represents free speech, property rights and open capital markets — stifling the power of tyrannical governments.