Bitcoin 

Tether Refutes Paper Naming USDT Manipulation as Cause of 2017 BTC Bull Run

Tether has issued a response to a recently surfaced paper that alleges that a single whale manipulated the market to cause 2017’s bull run in Bitcoin (BTC) price. The response Tether, which is behind the dollar-backed stablecoin USDT, published the response on the company’s website on Nov. 7, an announcement that crypto exchange and sister company Bitfinex echoed on the same day. In no uncertain terms, Tether denied the findings of the coming paper, even accusing the authors — John M. Griffin and Amin Shams — of unethical motivations: “To…

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Cryptocurrency 

Analysts Laugh Off Recent ‘One-Whale Theory’ of BTC’s 2017 Bull Run

Just a single player or entity was allegedly responsible for Bitcoin’s historic price surge, as suggested by a recently updated academic paper titled “Is Bitcoin Really Un-Tethered?” Originally released in the summer of last year, the study claimed that major Bitcoin (BTC) price manipulation occurred in winter 2017, prompting top cryptocurrencies to reach their all-time highs. The Tether (USDT) stablecoin and its issuer Bitfinex played a key role in the alleged hoax, the researchers also argued. The newer version of the paper maintains the same assumption, but additionally asserts that…

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Bitcoin 

One Whale Was Behind Bitcoin’s 2017 Bull Run, Claim Researchers

Researchers have escalated their claims about market manipulation in winter 2017, now claiming that a single whale was responsible for Bitcoin’s historic price surge. The development was reported by Bloomberg on Nov. 4. John M. Griffin and Amin Shams — of the universities of Texas and Ohio respectively — have updated their previous research, which made the case that market misconduct was allegedly behind Bitcoin’s bull run to an all-time high of $20,000 in December 2017.  “Clairvoyant market timing” or manipulation Griffin and Sham’s analysis, first published in a research…

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Bitcoin 

Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain CEO

Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt.  Bulls may be late this time Per the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the…

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Ethereum 

Altcoins Continue Explosive Bull Run While Bitcoin Stalls at $10,200

Tuesday, Sept. 17 — Altcoins are showing massive upward price movements, while the No.1 cryptocurrency trades flat at around $10,200. Market visualization. Source: Coin360 While the number of Bitcoin (BTC) wallet addresses holding a minimum of 10 BTC — worth over $100,000 — has hit an all-time high, the Bitcoin price continues to trade sideways, with an intraday high of around $10,320. BTC has been slowly trading downwards to its current trading price of $10,216 and is showing a small gain of 0.8% on the day, according to data from Coin360. Bitcoin…

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Bitcoin 

4 Key Similarities to Previous Bull Market Corrections

While Bakkt clients will be able to deposit their funds into the Bakkt Warehouse next week on Sept. 6, Bitcoin price is trending downwards after falling below $10,000 in the run-up to the event.  So is this already priced in or the market cycles are just repeating themselves? Let’s take a look at some key similarities to previous bull market cycles.  Similarities I & II: 100-week MA & 21-week EMA providing support BTC/USD Weekly chart. Source: Tradingview A common discussion lately on Crypto Twitter suggests that there’s a confluence between…

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Bitcoin 

Bitcoin Price ‘Not at the Top’ of New Bull Cycle Yet, New Data Shows

Bitcoin (BTC) price has far higher to go during its current market cycle if crowd sentiment takes charge, according to analysis of the Bitcoin Days Destroyed (BDD) technical metric. In social media posts Aug. 22, Hans Hauge, senior qualitative researcher at crypto investment fund Ikigai, identified Bitcoin sentiment as being similar to early 2017. That was just months before the cryptocurrency reached its all-time high of $20,000. “Bitcoin bubble tops are clearly identified with a dark red cluster of Adjusted Binary BDD,” he summarized tweeting a corresponding chart.  He added:…

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Ethereum 

Bitcoin Price Retakes $10K as Fresh Data Supports Giant $300K+ Bull Run

Bitcoin (BTC) price gained over $300 in just ten minutes on July 27 as markets rallied to take the largest cryptocurrency back above $10,000.  Market visualization. Source: Coin360 Bitcoin network holds clues to price future Data from Coin360 shows BTC/USD trending towards the psychologically important barrier after hitting local highs of $10,179 early Saturday.  The sudden uptick ended a period of losses for Bitcoin holders, who watched as the pair descended to lows around $9,580 this week. Bitcoin 7-day price chart. Courtesy of Coin360 Bitcoin price remains around 4.7% down…

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Cryptocurrency 

Bitcoin Price Back Above $11,000 as Dip ‘Consistent’ With Parabolic Bull Run

Bitcoin (BTC) corrected as low as $10,380 before rebounding above $11,000 on June 27 as commentators remain highly bullish about the market’s potential. Market visualization courtesy of Coin360 Data from Coin360 showed the bitcoin price dipping down from recent highs of $13,800 in a pullback many had anticipated.  BTC/USD gained rapidly throughout this week and last, adding thousands of dollars over several days before resistance at $14,000 finally checked the speed of the growth.  Estimates had said the pair could go as high as $16,000 before reversing, with Cointelegraph reporting…

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Ethereum 

‘Welcome to the 2019 Bull Market’

BitMEX, the world’s largest cryptocurrency trading platform, saw record volumes across its operations as bitcoin (BTC) hit $13,000. The company reported the figures on Twitter on June 26. On Wednesday, BitMEX, which is the world’s single biggest bitcoin derivatives provider, reported more than $1 billion of open interest on the market. Trading topped $13 billion, with the number topping $16 billion across the platform’s product range.  Volume had swiftly risen above $10 billion in previous hours, leading CEO Arthur Hayes to declare any signs of the previous cryptocurrency bear market…

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