Economist says Bitcoin is just another fiat

An economist with the New York Fed has said that Bitcoin is just like fiat. This is based on the fact that Bitcoin, like fiat has no intrinsic value, but is based on people belief in Bitcoin. However, Bitcoin is different from fiat in two crucial ways and cannot be considered fiat.


Bitcoin pumps as Tether Prints

Bitcoin has pumped to near $10,000 today while the supply of Tether grew to $8 billion. Tether has nearly doubles its supply since 2 months ago and Bitcoin has nearly doubled its price. Tether is being used at the exchanges to buy up Bitcoin and as long as they keep printing in mass quantities, BTC may go up along with it as it is being used to buy BTC.

Wall Streets Owns 360,000 Bitcoin

It was reported by Ivan on Tech that Wall Street owns 360,000 Bitcoin. While that may sound like a lot(and it is) and it may sound like Wall Street is bullish about Bitcoin, we have to take into the account that many large exchanges have more. Of the total, it is roughly 2% of all the Bitcoin that is out there so the number may not be as surprising as people think.

Bitcoin(BTC) Hash rate suddenly crashes by 29%! Massive Dump coming?

It was noted that Bitcoin’s Hash rate suddenly dumped by 29% this morning. This could signal a drastic fall for the top cryptocurrency coming. Such hash rate dumps occurred as well in the 2018 hash rate where BTC price fell by 50% and just a few weeks ago when BTC fell from 9000. Is there another big dump coming?

Bitcoin to rise if stock market closes?

There is talk that stock market might close for a few days or even longer if losses continue. Such a move would leave Bitcoin and cryptos as the only assets open for trading which could bring many people into the market and bring prices up. This combined with the halving could possibly lead to explosive results.

Bitcoin Long liquidations cause market crash

Bitcoin’s long liquidations of several hundred million spurred on by selling due to plustoken scammer has cause the market to crash recently by over $1000. However, this should not be a lasting pattern as mining will not be profitable after the halving below $8800 or so. I expect us to crawl back above $9000 by early may.