Each Sunday, we breakdown the most important crypto market news from the past week for SludgeFeed Premium members, including key events and stories you might’ve missed from a variety of news outlets. Top Headlines This Week 🔥 Square’s Bitcoin Revenue Jumped to $ 65.5 Million in Q1, Its Highest Ever Payments company Square (SQ) reported its first-quarter […]
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Grayscale Urges Investors to ‘Drop Gold’ and Pick up Bitcoin (BTC)
Grayscale Investments, a digital asset management firm founded by Digital Currency Group, launched a major marketing campaign on Wednesday to try and sway institutional investors to drop their investments in gold and begin positions in Bitcoin (BTC). According to the accompanying announcement, the #DropGold campaign promotes the emergence of Bitcoin as a viable digital asset […]
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“Bye Gold, Buy Bitcoin”: Grayscale Urges Investors to Drop Gold for BTC
Grayscale Investments is weighing in on the gold versus bitcoin debate. Its two sats? Drop the bars, buy the bits (and the dip).
The Digital Currency Group off-shoot has launched a “Drop Gold” campaign that encourages investors to ditch the old asset for its digital counterpart, bitcoin.
“Everyone loves a piece of gold jewelry, but is gold really the best investment in today’s digital world?” This is the rhetorical question that the website challenges its readers to consider. “Gold represents the past,” it continues, saying that Nixon dropped the gold standard that backed USD back in the ’70s.
Traders: Bitcoin Trend Looking Ugly, Why a Slow Drop Below $3,000 is Expected
In the last 24 hours, the crypto market has slightly declined by $ 2 billion in valuation as the Bitcoin price fell by one percent. The decline in the value of major crypto assets in the likes of Ripple (XRP) and Ethereum (ETH) which recorded drops in the range of three to five percent prevented the market from continue recovering. From January 30 to January 31, the crypto market seemed to be rebounding as its valuation rose from $ 111 billion to $ 115 billion. But, in the past 12 hours, the valuation fell back to $ 112 billion, unable to sustain its momentum.
After Apple, Samsung Records a 31% Drop in Net Profits: Are Big Phone Makers in Trouble?
Apple has struggled to win over the Chinese mobile phone market as reports have suggested but Samsung is also having a similar issue. Samsung Electronics revealed that it recorded a 31 percent decline in net profit in the fourth quarter of 2018 as the operating profits of its mobile business plunged by nearly 33 percent. Samsung Sees Large Net Profit Declines Analysts at Samsung attributed the overall decline in profits to various geopolitical factors including the U.S.-China trade war. Due to macroeconomic uncertainties, the company said that its memory business will likely not strongly rebound until the second quarter of
Crypto Canarge: $6 Billion Wiped Out as Bitcoin Drops to $3,350; What’s Causing the Drop?
In the last 24 hours, the Bitcoin price has dropped from $ 3,550 to $ 3,357 on the day’s low, by more than five percent. The abrupt decline in the Bitcoin price led the crypto market to lose nearly $ 6 billion within hours. Some major crypto assets including Bitcoin Cash (BCH) recorded losses of over 10 percent, experiencing the steepest decline in the month. Some analysts expect the Bitcoin price to drop to a new 12-month low following the short-term drop in the valuation of the crypto market. Factors in the Decline of the Bitcoin Price Since early January, for over three
What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?
By CCN.com: In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities
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Bitmain’s Chip Supplier Saw a ‘Big Drop’ in Crypto Mining Sales Last Year
Taiwan Semiconductor Manufacturing Company Limited, who provides chips to Bitcoin mining giant Bitmain, says that 2018 saw a downturn in demand for crypto mining chips. In a recent conference call with investors, TSMC CEO C. C. Wei said that cryptocurrency had previously accounted for “a lot” of the company’s orders, but that it had gone
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How Tesla’s 7% Stock Drop Shows Dow Jones Isn’t in the Clear
The stock price of Tesla has dropped by 7.14 percent in pre-market following the release of CEO Elon Musk’s letter. The struggle of the car marker demonstrates the lack of fundamentals in the U.S. stock market which may lead to the decline of the Dow Jones. Over the past week, several analysts including Morgan Stanley
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Following $5 Billion Crypto Drop, Traders See Weakness in Bitcoin
On January 13, the crypto market initiated an intense sell-off as the Bitcoin price fell below the $ 3,500 mark. The weakness in the short-term price trend of BTC led the market to demonstrate volatility on the downside. More than $ 5 billion was wiped out of the crypto market and major assets like Ethereum recorded a
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Bitcoin Wallet Forced to Drop Key Privacy Features From Google Play App
Privacy-focused bitcoin wallet Samourai is having its hand forced by Google.
According to a Samourai blog post, the wallet provider is disabling privacy features that are key to its design before its latest version, 0.99.4, hits the Google Play store tomorrow. The removed features include Samourai’s Stealth Mode, remote text message (SMS) commands, and SIM Switch Defense (a measure to protect against sim swaps).
Call of Duty: Black Ops 4 League Play Could Drop at Any Moment
Call of Duty League Play, a new numerical system that is used for the first time alongside XP, has long been a staple within the Black Ops series. Starting with Black Ops 2, League Play pitted competitive amateur players up against one another to earn Division badges, ranging from Iron to Master, through two different series: […]
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Bitcoin to End 2018 With 80% Drop, What Investors Should Expect in 2019
Following one of its biggest bull rallies in history to $ 19,500, Bitcoin (BTC) is set to end 2018 with an 80 percent drop from its all-time high. As Bitcoin enters 2019 with a bear market status having suffered a steep sell-off in December, what can investors expect in the first two quarters of 2019? Several … Continued
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Bitcoin Hits $4,000 But Retraces, is Another Drop to Mid-$3,000 Next?
On December 29, the Bitcoin price briefly surpassed $ 4,000, initiating a promising rally from around $ 3,600. In the past 24 hours, the value of Bitcoin has retraced from $ 4,000 to $ 3,800, falling to $ 3,688 at the day’s lowest point. The decline in the Bitcoin price led other major crypto assets such as Ripple (XRP) and
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Nasdaq in Bear Market With 20% Drop, Dow Jones Worst Week Since 2008
The Nasdaq is in a bear market. On December 23, the Nasdaq Composite fell to a new yearly low at 6,332 points, as stocks and securities listed on the exchange plummeted in value. A bear market is commonly referred to as a 20 percent drop from a market, index, or asset’s all-time high. Since its … Continued
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No, the Price of Bitcoin Didn’t Drop Because of Bomb Threats
On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset
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Bitcoin Price to Likely Avoid Drop Below $3k as Crypto Loses $14 Billion in 1 Week
Over the past 48 hours, the Bitcoin price has stabilized at around $ 3,400 after dropping to a new yearly low at $ 3,210 on December 7. On a weekly basis, Bitcoin (BTC) is up six percent from $ 3,210 to $ 3,400 but the cryptocurrency market has lost $ 14 billion of its valuation against the U.S. dollar mostly
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Bitcoin and Ethereum Drop 3%, is the Bottom Still in Sight?
Over the past 24 hours, the prices of both Bitcoin (BTC) and Ethereum (ETH) have fallen by more than three percent against the U.S. dollar. The cryptocurrency market experienced an abrupt $ 4 billion drop in its valuation, by just about 3.5 percent. While major cryptocurrencies struggled to demonstrate signs of a potential corrective rally, small
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EOS, Bitcoin Cash Drop Biggest as Top Cryptocurrencies Correct Lower
EOS continues to face more rapid capitulation than its peer blockchain projects after falling another 11% in a day. The EOS/USD rate on Tuesday established an intraday low at 2.41-fiat, down 28.27% from its weekly high at 3.36-fiat. Meanwhile, the maximum drop noted in the EOS market capitalization this week touched $ 861 million, according to
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Coinbase ‘Pump’ Fails to Boost Zcash in 17% Drop from Daily Peak
On November 30, Zcash (ZEC), a privacy-focused cryptocurrency, was integrated into Coinbase Pro, a U.S.-based regulated digital asset exchange operated by Coinbase. The exchange told investors that throughout the foreseeable future, withdrawals of Zcash shielded transactions, private or anonymous transactions on the Zcash network, will not be supported. Coinbase said: “Initially, we will support deposits
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