Tags : Boom

Bitcoin

Currency devaluation in Nigeria is driving a crypto boom in

Data from analytics firm Chainalysis shows that in May, Nigerians received a marked increase in crypto compared to last December. Observers say this is partly due to the central bank’s recent currency devaluation, which weakened the naira to its lowest ever level against the dollar. The resulting boom in crypto activity lends support to the […]Read More

Bitcoin

Boom for Bitcoin as Macro Analysts Stick to Their Bearish

Bitcoin and the US dollar have stopped caring about their inverse correlation heading into 2021. The flagship cryptocurrency closed the first quarter more than 100 percent higher as more and more institutions became accustomed to its safe-haven characteristics. For instance, US carmaker Tesla revealed that it replaced $1.5 billion of its cash reserves with bitcoin, […]Read More

Bitcoin

Boom for Bitcoin as Wall Street Veteran Blasts Powell over

Bitcoin could continue playing its global safe-haven hedge role as a Wall Street veteran blasts off Jerome Powell and his pro-inflation policies in his latest opinion editorial. The benchmark cryptocurrency could rise as Andrew Parlin, founder/chief investment officer at Washington Peak Investment Advisors in New Jersey, warns about how the Federal Reserve chairman has thought […]Read More

Blockchain

Breaking Down OpenSea’s $23 Million Raise in NFT Boom

As one of the first NFT-centered open marketplaces on the web, OpenSea has enjoyed a surge in popularity as collectors and speculators alike latch onto the red-hot trading of non-fungible tokens. From a startup that launched nearly 4 years ago at the advent of early-NFTs (i.e. Ethereum-based CryptoKitties), the company has now grown to sell […]Read More

Bitcoin

US Dollar’s Boom in 2021 Puts Bitcoin Price Rally At

Many Bitcoin strategists and investors started 2021 with deep-rooted convictions that the US dollar would weaken. But so far into the year, their predictions have proven to be false. While Bitcoin has gained 73 percent against the dollar since the start of January, extending its uptrend further since the pandemic rout in March 2020, the […]Read More

Bitcoin

Bitcoin Rebounds as PayPal Rival Buys $170M BTC; Boom Ahead?

Yerevan (Bitcoinist) – Bitcoin underwent a modest recovery this Wednesday after Square, a payment service rival to PayPal, revealed its recent investments into the cryptocurrency. The Twitter-fame Jack Dorsey’s firm purchased $170 million worth of bitcoin tokens at an average rate of $53,125. Combined with its $50 million investment into the cryptocurrency previously, the latest […]Read More

Bitcoin

Bitcoin Weekly Outlook: Overbought Fears Persist Despite Corporate Boom

Key Bitcoin Takeaways Bitcoin bloomed higher last week despite weaker demand for safe-haven assets against a prosperous US economic outlook. The cryptocurrency’s upward move came as a part of its quarterly bullish trend as traders raised their BTC/USD bids against a flurry of corporate adoption news. Nonetheless, bitcoin has turned into an overbought asset that […]Read More