JPMorgan Implies that El Salvador’s Bitcoin Move Has no Economic Benefits 

Following El Salvador’s move to adopt bitcoin as a legal tender in the country, Wall Street giant JPMorgan seems not to be impressed by such a monumental decision from the Central American nation. JPMorgan Comments on El Salvador’s Bitcoin Move In a recent note to investors, as tweeted by Financial Times correspondent Robin Wigglesworth, JPMorgan commented that the recent move made by El Salvador to make bitcoin legal tender was growth-oriented. However, the American investment bank seemed to imply that the decision by the country had no economic benefit, adding…

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Worrying Sign for Bitcoin in the Short-Term: Exchanges Netflows

Some worrying signs are starting to appear for bitcoin’s price, at least in a short-term time frame. That’s according to a well-known analyst. The price for BTC has been wobbly recently, with it being unable to decisively break out in any direction. Last week, we saw bitcoin dipping as low as $31K only to recover and touch $38,500 days later. Now, however, the primary cryptocurrency is trading at around $35,500 for a 4% loss on the day. Commenting on the most recent price action was Ki Young Ju, the CEO…

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Bitcoin’s Dominance on the Rise as BTC Rebounds $6,000 in 2 Days (Market Watch)

The primary cryptocurrency continues its recovery by reaching $37,000. Bitcoin’s dominance over the market has also increased by a few percentages in days, even though the altcoins have also charted decent gains. Bitcoin’s Dominance Rises to 43% After failing to break above $37,000 a few days ago, BTC started to retrace heavily. In a matter of hours, it lost over $6,000 of value and bottomed at $31,000 – this became the lowest price tag in three weeks. However, the bulls stepped up at that point and recovered a few thousand…

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Bitcoin Dipped to $31K Before Crypto Markets Recovered $100 Billion (Market Watch)

After the latest massive price slump to a multi-week low, bitcoin has bounced off and recovered over $3,000 of value. While most altcoins have failed to produce any significant gains, Solana spiked by double-digits and has neared the top ten. Bitcoin Recovers $3K After a few days of sideways trading in which BTC stood around $37,000, the infamous volatility made its mark once again. As reported yesterday, bitcoin slumped by a few thousand dollars to below $34,000, but it only continued south. In the following hours, BTC dumped to around…

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Crypto Markets Dump $200 Billion in Bear Driven Bloodbath

Total market capitalization has declined by 11% in a fall from $1.74 trillion to a low of $1.55 trillion during Tuesday morning’s Asian trading session. The massive selloff has resulted in almost $200 billion being wiped out of digital assets and back into fiat. It is the lowest markets have fallen to since May 30, and more pain may be on the way. The lowest total market cap has been during the current correction was on May 24 when it dropped to $1.46 trillion. Markets are still 50% higher than…

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Toxic Bitcoin Maximalism is Bullshit, Erik Voorhees Says

ShapeShift CEO Erik Voorhees is no shy when it comes to expressing his opinion about politics, finance or Bitcoin maximalism —no matter popular or unpopular they might be. During an intervention at the Bitcoin 2021 conference in Miami, Voorhees criticized an earlier panelist’s comment praising toxic Bitcoin maximalism, saying that such thinking was, erm, wrong – to put it in more civilized terms. Bitcoin Maximalism: A Bug or a Feature? Just minutes before Erik Voorhees took the stage to moderate a panel on the evolution of cryptocurrency exchanges, a debate…

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Revolutionary: El Salvador On Its Way To Adopt Bitcoin As a Legal Tender

El Salvador’s president revealed at the ongoing Bitcoin 2021 Conference in Miami that he plans to make bitcoin a legal tender in his country. Speaking at the Bitcoin 2021 event, Nayib Bukele, the president of El Salvador, said he is planning to introduce a law that will make bitcoin a legal form of money in the country. According to a  video broadcast at the conference today, Bukele said he would send the bill to Congress next week. If the bill pushes through, El Salvador will become the first sovereign nation…

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Max Keiser: Buy Bitcoin to Help Your Family When the Global Economy Collapses (Exclusive Interview)

With the largest Bitcoin conference to date taking place in Miami, CryptoPotato had the chance to speak with one of the most prominent BTC proponents – Max Keiser. During the interview, the host of the Keiser report talked about the remarkable difference between the first Bitcoin conference in Prague ten years ago, price movements, crypto sentiment, and more. What a Difference Ten Years Can Make Keiser, who has been among the most well-known BTC bulls for over a decade, spoke about the general mood shortly before the start of the…

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Bitcoin Price Analysis: Following The Breakout, BTC Now Facing Huge Resistance Zone

Bitcoin is up by a solid 5% today as it spiked as high as $39,500 and reached the 20-day moving average line, before getting rejected shortly after. Despite this, bitcoin had made another bullish step towards a retest and a possible breakout of the critical $40-42k demand zone. In addition, the cryptocurrency had been trading inside a symmetrical triangle pattern over the past week since rejecting sharply from the resistance at $40,760 (bearish .382 Fib & 200-day MA) last week. From there, it went on to drop lower but found…

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Crypto is Not a Substitute for Gold but Copper: Goldman Sachs Head of Commodity Research

Jeff Currie – the Global Head of Commodities Research at Goldman Sachs – shared his thoughts on Bitcoin being a gold replacement. According to him, digital assets are substitutes for copper. From Gold to Copper In a recent CNBC interview, Jeff Currie warned that cryptocurrencies are risky and people should not consider them as a gold substitute. He opined that copper is a much more similar asset to be compared to digital assets: ”Digital currencies are not substitutes for gold. If anything they would be a substitute for copper. They…

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