Analysis | Binance’s latest report calls XRP the “best diversified” digital asset
According to a new report released by Binance Research, which details the interrelationship between various cryptocurrencies. It concluded that the cryptocurrencies with the largest adoption, such as Bitcoin and Ethereum, exhibit the highest positive or “clustering” relationships. This positive correlation means that the prices of Bitcoin and Ethereum tend to follow the same market trends. As prices converge, investors will face similar returns and risks. Ripple, on the other hand, has less trend correlation with Bitcoin and Ethereum, leading it to be named in the report as “the best diversified market among digital assets with a market capitalization over $3 billion.”
News | The price of Bitcoin in Kraken fell below $5,000 a few hours before the Bitfinex incident, triggering market suspicion.
According to ambcrypto news, the recent fluctuations of Bitcoin (BTC) revolve around the dramatic events of Bitfinex and Tether (USDT). However, just hours before the incident, the price of Bitcoin on Kraken dropped sharply, sparking speculation that news of the market drop was "leaked in advance." U.S. cryptocurrency exchange giant Kraken experienced a high-profile Bitcoin “sell-off”, with the price of Bitcoin on the exchange falling below $5,000 before the New York Attorney General announced the news. The price of Bitcoin on the 25th Beijing time It fell sharply around 00:00 in the morning, hitting a low of $4,357. There is no concrete evidence of a correlation between the BTC drop on the Kraken exchange and the upcoming announcement, but many in the industry are curious. Judging from the timeline, the bitfinex news was reported by the Wall Street Journal at around 5:17 am on the 26th, Beijing time. According to data from multiple exchanges, Bitcoin crashes generally occur around 5:00-6:00 am on the 26th, Beijing time. From a time perspective, Kraken’s first sell-off occurred before the Wall Street Journal published the above report, and before Bitcoin collectively fell below $5,200 on mainstream exchanges.
Voice | Morgan Creek founder: More people need to stand up and oppose India’s decision to ban cryptocurrency
April 28, in response to the recent news that the Indian government has begun inter-ministerial consultations on banning cryptocurrency, Morgan Creek founder Anthony Pompliano tweeted, “As a decentralized global digital currency , Bitcoin provides a level playing field for billions of people. More people need to stand up and support will be provided by this 1 billion people who decided to have a negative impact.
Voice | eToro Analyst: The approval of Bitcoin ETF will only increase the value of Bitcoin as an investment tool
According to ambcrypto, eToro’s senior market analyst Mati Greenspan said in an exclusive interview, The approval of a Bitcoin ETF will only increase the value of Bitcoin as an investment vehicle, as fund managers will not be trying to figure out what a cold wallet is and will simply participate in the price movement. Approval or rejection of a Bitcoin ETF could have a significant impact on price, but would only impact the market in the short term. Bitcoin ETFs are just another channel to gain access to Bitcoin investment capabilities, and the products are not built on real Bitcoin.
Analysis | Despite the recent controversy surrounding Tether, several analysts are still bullish on BTC
According to newsbtc, despite the recent controversy surrounding Tether, market investors do not seem to believe that this will have a substantial impact on the encryption market. The market is Gradual recovery. Cryptocurrency analyst The Crypto Monk said that BTC’s technical picture still appears bullish. Monk didn’t give much of a reason, but the chart he attached did show that BTC is now holding above $4,800, a key level supporting the 200-day moving average. At the same time, another analyst Murad Mahmudov said that there is a 75% probability that BTC has reached a bottom. Bitfinex’s long-short position ratio and the relative strength index (RSI) point to make him believe that Bitcoin will rise further. Although Mahmudov did not specify a specific predicted price level, his analysis chart showed an arrow pointing to $6,300, which is the main resistance Bitcoin is expected to encounter.
Analysis | "Bitfinex is accused of misappropriating Tether funds" may have a negative impact on the approval of Bitcoin ETF
LongHash issued a document stating that "Bitfinex is accused of using Tether funds to secretly cover a loss of 850 million US dollars" may have a negative impact on the US SEC approval of Bitcoin ETFs have a negative impact. If it is true, as the NY AG (New York Attorney General’s Office) pointed out, it means that Bitfinex and Tether conducted backdoor transactions without notifying investors. Tether quietly revised its terms of service without issuing a public statement; Bitfinex also remained silent and then ran into trouble due to withdrawal delays and unstable relationships with banks. Worryingly, Bitfinex is currently the second largest spot exchange for Bitcoin, with data provided by Bitwise. As a Bitcoin exchange known as a reliable one at SEC closed-door seminars, Bitwise did not communicate timely information about Bitfinex funds to its customers this time. This could once again give the SEC reason to question the Bitcoin market. But the article also stated that in the long run, Bitcoin ETF is still expected to be approved.
Voice | Cryptocurrency analyst Willy Woo: Bitcoin will replace gold once extraterrestrial gold mining becomes economically viable
On April 28, cryptocurrency analyst Willy Woo tweeted about the existence of a large gold mine on an asteroid video, and commented that gold as a monetary reserve will come to an end. In theory, once extraterrestrial gold mining becomes economically feasible, the market will reduce the value of gold to industrial utility use. By then, Bitcoin will become digital scarcity and take its place.
News | Facebook has blocked an Australian restaurant’s Bitcoin payment advertisement
According to CCN news today, Facebook has blocked an Australian restaurant Origin Kebabs’ advertisement that supports Bitcoin payment.
Voice | New York Times Reporter: Bitcoin online payments fell in 2018, but darknet activity rose
New York Times reporter Nathaniel Popper has researched and compiled the scale of Bitcoin darknet use. He discussed in a recent set of tweets that while BTC has many promising use cases, illicit transactions drive adoption. He said that chainanalysis data shows that although online payments using Bitcoin decreased last year, the number of Bitcoin purchases on the dark web has steadily increased. Transactions related to theft and hacking are growing even faster.
Voice | Fundstrat co-founder Tom Lee: The depreciation of legal currency led to a surge in transaction volume on the Bitcoin chain
According to Bitcoin Exchange Guide, throughout last year, South American Bitcoin transaction volume surged; entering 2019, Thailand, Brazil and Countries such as Argentina continue to lean towards digital currencies. Fundstrat co-founder Tom Lee said in an interview with CNBC that the growth in Bitcoin trading volume is not seen since the last bull run in December 2017, and it is due to the increasing number of countries affected by currency, economic or political crises. The push for adoption of this flagship cryptocurrency. Tom Lee said: "The Venezuelan incident and the devaluation of the Turkish lira have actually caused a surge in transaction volume on the Bitcoin chain."
News | There are 4,700 cryptocurrency ATMs around the world, 5 of which do not sell Bitcoin
According to Bitcoin Exchange Guide News, data from Coinatmradar.com shows that as of April 27, there were 4,700 cryptocurrency ATMs around the world, 5 of which did not sell Bitcoin. About 3,290 cryptocurrency ATMs support altcoins. In the list of cryptocurrencies supported by ATMs, Litecoin is the most supported cryptocurrency ATM, followed by ETH, BCH, Dash, XMR, DOGE, and ZEC. The United States is the country with the most cryptocurrency ATMs, with 2,921, followed by Canada, Austria and the United Kingdom.
Voice | Morgan Creek founder Anthony Pompliano: Institutions are paying close attention to Bitcoin
According to Bitcoin Exchange Guide, Morgan Creek founder Anthony Pompliano said that institutions are increasingly interested in Bitcoin (BTC) and the cryptocurrency market. Pompliano said he attended seminars with "some of the richest families in the world." There, he was able to talk about Bitcoin and how it works.
