Bitcoin (BTC) Futures Markets Hit $5B Daily Volume

The Bitcoin (BTC) market has evolved to include the simplest kind of derivative financial products – futures contracts. Those markets now reach $5 billion in daily volumes, taking a significant chunk from spot trading markets. Bitcoin Price Discovery Shifts to Futures Markets Bitcoin price discovery mechanisms have shifted in 2019, as the effect of futures is felt more strongly. Those markets invite traders betting only on price moves, with little regard for BTC scarcity or the real-world adoption of the asset. And since BTC is notoriously volatile, trades are made…

How Bitcoin Miners Are Not Causing The Price Plunge

When bitcoin starts to turn south and the selloff intensifies, fingers start pointing. The crypto community wants to blame something and the mainstream media wants to sensationalize fearful headlines to get their clicks. Bitcoin Miners Not to Blame This latest slide has been blamed on China (again) and a miner capitulation but recent research reveals that the latter is not to blame. Bitcoin has had a little revival this week with an almost 14% recovery. That would sound good if it hadn’t already dumped over 20% in November. We are…

BREAKING: IDAX Admits CEO Has Vanished With Cold Wallet Keys

The International Digital Asset Exchange (IDAX) admitted the news that its CEO went missing, locking the exchange out of the cold storage wallets. Reports of Missing CEO Turned Out Real The IDAX exchange stated it went through maintenance, while Weibo.com reported rumors from workers that the CEO went missing. In a previous notice, the exchange tried to calm down fears – though finally, it admitted to the situation. “Since we have announced the announcement on November 24, IDAX Global CEO have gone missing with unknown cause and IDAX Global staff…

German Banks Could Store Bitcoin and Provide Crypto Services Soon

Cryptocurrencies might finally go hand in hand with traditional money services. Starting from 2020, it might be legal for German banks to sell cryptocurrencies like Bitcoin and provide custody solutions, local media reports.  Germany Welcomes Cryptos with Open Arms Currently, financial institutions operating in Germany are not allowed to directly sell cryptocurrencies to their clients. However, this could change in the future thanks to the planned law that implements the fourth EU Money Laundering Directive. The bill already passed Germany’s federal parliament (Bundestag) and now it awaits the consensus of…

Bitcoin Price Shows Striking Correlation to Distressed Global Markets

Bitcoin has widely been considered to be a macro hedge asset against failing global economies, but an exact figure showing this has remained a mystery. Recent findings by a Senior Research Analyst, however, has highlighted that the correlation between the two does exist, and is perhaps much stronger than people might think.  Growing Demand in Struggling Economies In 2019, the Bitcoin market price has shown a 70% correlation with the rising turbulence based on the Global Economic Policy Uncertainty Index. These findings confirm that economic policy uncertainty boosts the position…

Bakkt Futures Set New Record, 3151 Bitcoin Worth $23M Traded

The Bakkt bitcoin futures contracts peaked to a new high, signaling strong institutional interest in BTC, risk exposure, affinity in ‘physically’ acquiring the underlying asset. Bakkt Bitcoin Futures Set New Record Days After Last Friday’s Peak During a period of high volatility for bitcoin, the futures market picked up in earnest, breaking the previous record from last week and continuing on a streak of records over the past months. Bakkt now habitually trades above 2,000 BTC per day, about two months after its launch. BREAK: Bakkt volume at new all…

Bitcoin Price Shoots Past $7200, as BTC Predictions Abound

Bitcoin price is returning to short-term volatility, with a rally above $7261. At this point, BTC sees various near and long term predictions. Bitcoin Price Rally Mode On The mood for BTC until now has been bearish without the exclusion of sudden price rallies. The halving narrative still continues as a factor, though with fears of revisiting new lows before a 2020 rally. Legendary investor and Galaxy Digital boss Michael Novogratz saw bitcoin staging a rally if it vaults the $7,500 level. Something which is happening at the moment. $BTC…

Bitcoin Investors Haven’t Lost More than $200 Despite Crash: Analysis

Any significant crash in bitcoin price tends to focus the minds of investors on money lost. However, for the overwhelming majority of investors, that isn’t actually going to be very much. As recently pointed out in an article on LongHash, out of investors who have lost money on the latest bitcoin price drop, less than 10% are likely to have lost more than $200. Time For Some Simple ‘Bitcoin Price’ Maths If we take the current price of bitcoin as just over $7000, BTC has only closed higher than this…

Is PlusToken Behind Bitcoin Bull and Bear Price Actions this Year?

The bitcoin price rally in the summer of 2019 may have been the work of PlusToken investors. The scam, highly influential in China, but largely invisible to Western traders and social media, benefited greatly from the hype and growing BTC prices. Plus Token Raised Demand for Bitcoin in Early 2019 Dovey Wan, the co-founder of Primitive Crypto, is of the opinion that the PlusToken scheme may have manipulated the bitcoin market. The BTC crash in July is also ascribed to PlusToken emptying out its wallets through Huobi. IMO PlusToken is…

Alibaba, OneConnect Leads China’s Blockchain Patent Race

Alibaba and OneConnect scored the highest in China’s recent Blockchain Patents list after they both filed IPO prospectuses at the same time. The development of blockchain technology continues to rage on across the world, and countless corporations are struggling to take the lead. A little over a week ago, on November 18th, BlockData published a new report titled China Blockchain Patents Report 2019 and the Comprehensive Strength list of China’s Blockchain Patents 2019. The report leaves little doubt as to which Chinese companies are among the strongest in the blockchain…