US authorities are seizing $460M in Robinhood shares tied to FTX
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Would love some feedback on something of a business idea I was considering.So if you look back through my post history, you'll see that I generally like to help people in crypto where possible with any problems that they have in crypto. It's a jungle out there and people are always there to take advantage…
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Bitcoin is still stalling in terms of its price movement and has not made any significant jumps in the past couple of weeks. However, there could be a change in the trajectory of the digital asset in the coming weeks as the Bitcoin MVRV Ratio could be announcing a bottom signal. Bitcoin MVRV Ratio Reaches 2019 Lows Co-founder and CEO of on-chain data analysis firm Cryptoquant recently took to Twitter to share an interesting chart. The image showed that the bitcoin MVRV Ratio has fallen to levels that have not been seen since 2019 – three years ago. Related Reading: Bitcoin Mining Difficulty Sees Sharp 3.59% Drop Now, the bitcoin MVRV Ratio compares the market capitalization of BTC to its realized value. This helps to determine if the digital asset is actually trading at a fair value, if it’s overvalued, or if it is currently undervalued. The lower the value falls, the more undervalued BTC is. The times when the BTC MVRV Ratio has fallen to similar levels as the one shown in the Cryptoquant chart has been when the market had reached its bottom. This is during bear markets when prices decline drastically for a stretched-out period of time before bouncing back up. MVRV Ratio falls to 3-year low | Source: Cryptoquant Looking at the chart, it is easy to spot the times when the MVRV Ratio had been so low was when the previous bottom was reached. One time was in 2015, and the other time was in 2019, a couple of months before the bull market was triggered. If history is anything to go by, then this chart shows that the BTC bottom is already in, or very close to it. However, going by the previous timelines of when the MVRV Ratio has declined so low, it could be a few months at least before another bull market is triggered. What To Do With Such Trends With the bitcoin MVRV Ratio being so low, it does provide a unique opportunity for investors to buy the digital asset at one of the lowest possible prices before another bull rally. BTC being so undervalued in previous years has only ended in a bull cycle that saw its price hit a new all-time high. Related Reading: Santiment Paints Bullish Picture For XRP, But This May Not Be The Case Even if this is not the bottom, it may be very close to it, so investors may not suffer heavy losses even if the price ended up falling lower. The lack of interest in the market in the market has beaten down investor sentiment but it brings into play a strategy proposed by legendary investor Warren Buffett: “Be greedy when others are fearful.” BTC is trending at $16,855 at the time of this writing. It is up 0.64% in the last 24 hours and 1.21% in the last 7 days. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Medium, chart from TradingView.com
Officials reportedly told a bankrup judge they were in the process of seizing 56 million shares of Robinhood tied to FTX and its former CEO Sam Bankman-Fried.
Traders are piling into BONK, boosting its price by triple-digits in the last 24-hours and possibly hinting at a trend reversal in Solana price.
Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract. Celsius […]
The database contains 235,000,000 unique records of Twitter users and their email addresses and will unfortunately lead to a lot of hacking, targeted phishing, and doxxing. Hackers will use the new leaked Twitter database (Read here https://twitter.com/RockHudsonRock/status/1610554406805671936) in order to : 1. Target Crypto Twitter accounts (.eth in name or other methods, first picture) 2.…
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Screen actors and sports stars copped most of the backlash for 2022’s crypto endorsements, while soccer legends appear to have gotten away with it.
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