Bitcoin Dominance Does Not Signal Altcoin Season, Here’s Why

The number designating the dominance of Bitcoin (BTC) may be a faulty metric, especially when estimating the potential of altcoins. Instead, the metric has been proposed as a way to gauge the market direction. Bitcoin Dominance is a Flawed Metric The size of the BTC market capitalization has been criticized as flawed, as not all coins in circulation can be sold at the market price for the moment. However, the number is viewed as a gauge to the sentiment about the chances of BTC or altcoins to rally. Example #…

Craig Wright Latest Court Action Round-Up

Keeping up with Craig Wright’s innumerable lawsuits is no easy feat for anyone in the crypto community. Here is a roundup of everything that is known so far about the court actions regarding the self-proclaimed Satoshi Nakamoto. The Hodlonaut Lawsuit The Craig vs Hodlonaut saga was perhaps the straw that broke the camel’s back when it came to Wright’s reputation among the rest of the crypto community. Wright and Calvin Ayre, with the help of Coingeek, supposedly offered a $55k (in BSV) bounty for anyone to dox Hodlonaut, so that…

Bitcoin Worth $18.9K Hidden in Picture Puzzle, Can You Solve it?

Phemex, a new crypto derivatives trading platform has put up a picture puzzle with a 2.1 bitcoin price for whoever provides the solution. Led by Jack Tao, formerly of Morgan Stanley, Phemex aims to provide institutional-grade service options to the cryptocurrency derivatives market. Crack this Puzzle and Win 2.1 Bitcoin In a tweet published on Thursday (January 16, 2019), Phemex put up the picture puzzle with a 2.1 BTC ($18,900) prize attached. The image itself is the form of a portrait made up of what seems to be matrix barcodes.…

South Korean Gov’t Faces Public Hearing Over 2017 Crypto Ban

The South Korean crypto ban placed back in 2017 was a breach of fundamental rights, holds the arguments in a recent public plea. South Korean Government Placed Multiple Restrictions on Trading, ICOs South Korea moved in to curb the activity of exchanges, stemming the inflow of fiat to those markets. The ban, which happened near the peak of the 2017 bull market, added to the loss of value. South Korean investors have moved into crypto assets as a way to hedge a decade of sluggish economic growth. But locals have…

IRS to Limit Probe into Coinbase User, US Court Advises

The U.S. Internal Revenue Service (IRS) could be made to restrict its crypto tax probe of Coinbase user William Zietzke to cover only 2016. IRS Should Restrict Zietzke Crypto Tax Probe to 2016 According to Law360, U.S. Magistrate Judge Sallie Kim says the IRS should reduce the scope of its document request to Coinbase concerning one of its users — Zietzke. Delivering the court’s recommendation, Judge Kim stated: The court finds that the requests for information are overbroad with respect to time, and the court recommends that the IRS propose…

How Bitcoin Could Hit $70,000 By The End Of 2020

Bitcoin price prediction models vary greatly but one analyst that has been correct on numerous occasions has plotted a path to $70k BTC by the end of the year. Bitcoin Holding Gains There has been no pullback since crypto markets erupted a couple of days ago and bitcoin is holding its gains. For the past few hours BTC has been trading just below $8,700 but it started to move again topping $8,800 as it reaches resistance. BTC price 1 hour chart – Tradingview.com The Tradingview.com chart shows that the bulls…

Bitcoin Investment: Grayscale’s GBTC Premium to Shrink Twice in 2020

The Grayscale GBTC premium over market prices may be one of the true signals for investment interest in Bitcoin (BTC). GBTC Shares Signal Institutional Interest The fund, which holds 0.1 BTC in each share, has allowed mainstream investors to get exposure to BTC, though without the technicalities of holding their own coins. GBTC has been available to institutional investors, and more recently, as a retail investment through brokerage accounts. A low GBTC premium means decreasing interest or market corrections for Bitcoin. In 2019, the premium peaked during the rally from…

Bitcoin Price Should Stay Above $10,100 On Its Way To ATH

As bitcoin price continues to buck the traditional January blues and inch ever upwards, increasingly bullish sentiment is returning. Popular analyst, Josh Rager, tweeted that “price should stay above $10,100 on its way to new ATH.” That may seem a little premature, as we are still just a shade under $9k at the time of press. But according to Rager, it is all about the importance of the Point of Control (POC). Point of Control Acts As Bitcoin Price Support The Point of Control (POC) is quite simply defined as…