Tag: crypto investment

Bitcoin Drops Below $29,000 for the First Time in Over a Month
25Jul By adminNo Comments
Technology

Bitcoin Drops Below $29,000 for the First Time in Over a Month

[ad_1] Bitcoin dropped below $29,000 for the first time in over a month as the recent exorbitance over ETFs and a more favourable regulatory outlook eases.The largest digital-asset by market value fell as much as 4.2% to $28,865, the least since June 21. Bitcoin is up around 75% this year. Most other tokens were also lower on Monday, with recent high-flyer XRP down about 7% and Solana off 8%. “After a sharp rally spurred by spot ETF excitement, Bitcoin has consolidated for over a month around $30,000 as the market awaits incremental information regarding the probability of the myriad of filings coming to fruition,” said Spencer Hallarn, a derivatives trader at crypto investment firm GSR. The recent jump in Bitcoin coincided with a raft of filings for Bitcoin exchange-traded funds in the...
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Cryptoverse: Investors pick their AI race horses
26Apr By adminNo Comments
Technology

Cryptoverse: Investors pick their AI race horses

[ad_1] What do you get when you cross cryptocurrencies with artificial intelligence?A seemingly sentient bitcoin that codes itself in the style of Japanese haikus? Alas not, though you do get billions of dollars of trading in a new class of crypto tokens. The machine mania sweeping the tech world amid the launches of bots like ChatGPT and Bard has reached the cryptoverse, with interest in tokens tied to AI blockchain projects surging. Average daily volumes for the biggest coins including SingularityNET, Fetch.AI and Render topped $1 billion in early February, hitting a two-year high, according to data firm Kaiko.AI-linked blockchain products cover a gamut of services including payments, trading models, machine-generated non-fungible tokens and blockchain-based marketplaces for AI applic...
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Bitcoin Surged Past $30,000. Is Another Crypto Boom on the Way?
17Apr By adminNo Comments
Technology

Bitcoin Surged Past $30,000. Is Another Crypto Boom on the Way?

[ad_1] When Bitcoin plunged from around $30,000 to below $20,000 in little more than a week last year, Three Arrows Capital co-founder Su Zhu described the tailspin as the “nail in the coffin” for his hedge fund.Fast forward to today, and the largest cryptocurrency has just retraced that path from $20,000 back to $30,000 in the past month — but the industry is a shadow of what it was the last time the token crossed that milestone. That's because several more caskets were hammered shut in the domino-like wave of bankruptcies that followed Three Arrows' collapse: Voyager Digital, Celsius, FTX, Blockfi, Genesis Global, and other formerly high-flying startups. It's clear that while the mood has improved compared with last year's apocalyptic vibe, the promising Bitcoin rebound alone won't be...
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AI and Robotics ETFs Are Hotter for Traders Than Crypto in 2023
4Apr By adminNo Comments
Technology

AI and Robotics ETFs Are Hotter for Traders Than Crypto in 2023

[ad_1] The popularity of artificial intelligence-powered chatbots like ChatGPT is catching the eye of exchange-traded fund investors looking for exposure to the space.A majority of professional investors, 56%, are planning to add AI- and robotics-focused ETF strategies to their portfolios this year, according to a survey by Brown Brothers Harriman released on Monday. That figure is up from 46% in 2022. The category beat all other thematic strategies except internet and technology. That's a stark contrast from 2022, when AI and Robotics trailed ESG and digital asset-themed ETFs. A recent rally in AI stocks has super-charged investor interest in the industry. ETFs tracking robotics and AI have pulled in roughly $105 million in March, while other thematic strategies like clean energy, elec...
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Bitcoin Traders Set Sights on $30,000 Even as Momentum Wanes
2Mar By adminNo Comments
Technology

Bitcoin Traders Set Sights on $30,000 Even as Momentum Wanes

[ad_1] Crypto investors are scooping up call options betting on a Bitcoin rebound to $30,000, even as momentum in the digital-asset market stalls. Bitcoin options open interest rose in February to $9 billion, according to Bloomberg Intelligence's Jamie Coutts, who cited Glassnode data. The last time it was at this level, the coin had been trading around $45,000, whereas it's currently hovering around $23,700. It's the largest 14-day rate of change in its history, and is a record high when measured as a percentage of market cap, he said. “Too much leverage has been funneled into this asset in the short-term,” Coutts tweeted. Bitcoin advanced 2.5% as of 10:15 a.m. in London on Wednesday. Meanwhile, most of the open interest is made up of calls with a $30,000 strike price, meaning ...
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Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal
25Oct By adminNo Comments
Technology

Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal

[ad_1] As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin. As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin.After Britain's brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency. Trading volumes between bitcoin and the pound jumped 233% in September overall from the month before, according to data from research firm CryptoCompare, while trading between the cryptocurrency and a similarly battered euro also jumped 68%. "It was the first time we've seen such a huge increase in (bitcoin) volumes for the currency of a developed countr...
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