No, a quantum computer won’t instantly reward you with 69,000 Bitcoins … yet

A Bitcoin wallet with nearly $700 million is up for grabs — but anyone intending to be a “crypto thief” and nab it will have to crack the password first. Crypto Twitter user Alon Gal has put out a call to his 29,900 followers for solutions on how to gain access to 69370.22 Bitcoin (BTC), worth roughly $695.4 million as of this writing. According to the Sept. 8 post from Gal, the wallet has been passed between hackers for the past two years without success at determining the password. Source:…

Ethereum Remains in Bears’ Control Until it “Powers Above” Key Level

Ethereum has seen a sharp rebound from its recent lows today, with bulls and bears remaining engaged in a heated battle for control over its mid-term trend. This trend is somewhat unclear at the moment, as Ethereum has been facing multiple strong selloffs throughout the past few days, but each dip has been followed by a swift rebound. The key level that bulls have been defending exists between $325 and $330. It did visit these lows earlier this morning before it was able to see a sharp rebound that led…

Bitcoin Just Surged $300 in Two Minutes, Liquidating Millions

Wow. In the span of two minutes, Bitcoin (BTC) spiked $300 from the $9,920 to slightly above $10,200. The leading cryptocurrency proceeded to drop by $200 in the five minutes that followed this rally. Chart of BTC’s price action over the past few hours from TradingView.com According to Skew.com, a crypto derivatives tracker, more than $3 million worth of BTC positions on BitMEX were liquidated during this move. Most of the liquidations were sell-side liquidations, suggesting that many traders were short. At current, most Bitcoin and Ethereum futures markets are…

Dave Portnoy shrugs off $700K stock loss, weeks after crying over $25k Bitcoin dump

Dave Portnoy, Barstool Sports’ founder, admitted he lost $700,000 trading stocks on Sept. 8, expressing the importance of “strong hands.” “To steal a line from my crypto friends — you can’t have weak hands,” Portnoy said in a Sept. 8 Twitter video. “If you have weak hands, this game is not for you.”  Weak hands refers to someone selling their trading or investing position out of fear after (or during) a price decline. Stocks have suffered declining prices recently, including today, on which Portnoy boasted of his hand strength.  “Do…

Ethereum Ready for Freefall? 30% Correction After $490 Peak

Key Takeaways Ether dropped 36.8% from its peak on Sept. 1 to a recent low of $309 On-chain metrics suggest that the bull run that began in March seems to be coming to an end While sellers are waiting to short the bounce, buyers’ expectations rely on the expansion of the DeFi space on Ethereum Share this article Ethereum broke below its bullish support level at $370, dipping 13.2% on Saturday, adding to a 20% drop before the weekend beginning on Wednesday. The price action broke through the 50-day exponential…

‘Struggling’ Bitcoin sets a new all-time hashrate record, breaking the 150 TH/s plateau for the first time

Bitcoin’s price decreased by $2,000 in the past few days, yet the network’s hashrate has set a new all-time high, breaking the 150 TH/s plateau for the first time in its history.  Bitcoin hashrate. Source: Glassnode. Hashrate is a key indicator when determining the health of the Bitcoin (BTC) network. It represents the amount of global hashpower dedicated to mining the coin, and can also be interpreted as the amount of energy that protects the network from potential 51% attacks. Miners are some of the most important players in the…

Chainlink is “Replicating” Its Previous Bullish Cycle, But It May Still Plunge Lower

Chainlink, like many major altcoins, has witnessed incredibly mixed price action in recent weeks. The cryptocurrency’s general trend has been largely dependent on that of Bitcoin, as the benchmark digital asset has been firmly guiding the entire market throughout the past few days and weeks. This has mostly exposed altcoins to bearish momentum, as BTC has been flirting with posting a major breakdown as it trades around $10,000. This level has been ardently defended on multiple occasions throughout the past couple of days, with each dip below it resulting in…

LedgerX exchange launches physically settled Bitcoin mini futures

LedgerX, a regulated futures exchange in the U.S., has introduced physically-settled Bitcoin (BTC) futures contracts. This allows investors to receive physical delivery of BTC and some analysts believe this will amplify the impact on the price of BTC. XBT/USD daily chart. Source: TradingView.com How physical delivery may impact Bitcoin price? When Bakkt first launched with the backing of its NYSE parent company ICE, it received significant hype. Most of the interest around the platform surrounded its physical delivery of BTC, meaning, if institutions desired, they could actually hold BTC via…

Eerie Bitcoin Fractal Suggests Ethereum’s Price Is About To Explode Higher

Ethereum just collapsed a full 37% over the last week, following a new 2020 high and a record over 300% rally from Black Thursday lows. But despite how sharp and violent the selloff has been, its possible that the price action is a bullish retest that after confirmation leads to more new highs ahead. According to a fractal found in ETHUSD that closely mimics Bitcoin’s early bull market breakout could suggest that the number two ranked cryptocurrency is going to follow in its footsteps. Ethereum Eerily Following 2015 Bitcoin Fractal…

Morgan Stanley exec says this demographic prefers Bitcoin over gold

According to a Morgan Stanley executive, the young and adventurous usually go for crypto, while older investors stick to more traditional assets. In a Sept. 8 interview with CNN anchor Julia Chatterley, Morgan Stanley’s head of emerging markets and chief global strategist Ruchir Sharma stated that the generational divide when it comes to investments has many millennials choosing Bitcoin (BTC) over gold. “I think some of the older [investors] are still buying gold, and millennials are buying more of the Bitcoins and the cryptocurrencies,” said Sharma. Part of the younger…