Author: Editorial Office CVJ.CH

Myths and facts about Bitcoin are abundant and everywhere. But which of them actually reflect the truth? We provide an overview of the five most common myths about the mother of all cryptocurrencies, as well as the facts behind them. “Bitcoin is used primarily by criminals to launder money” Bitcoin transactions can be viewed by everyone due to the open bookkeeping via blockchain technology. This makes Bitcoin a bad option for criminals and money launderers. After all, authorities can investigate all transactions on the blockchain directly from their desk and without any problems. Offshore constructs and the traditional banking system…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in the cryptomarkets: Price Movements: Crypto assets powering blockchain networks have seen triple digit returns throughout 2021 ranging from +100% to +600%. Trading Volume: The average trade size for BTC-USD markets has doubled on most exchanges since October 2020. Order Book Liquidity: The bid-ask spread is narrowing for crypto-fiat trading pairs after a prolonged period of volatility. Volatility and Correlations:…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD In the reporting week, a correction phase dominated, with its lowest point occurring on Thursday. Right at the beginning of the week, losses led to a first correction, which brought the price back to the zone of 54’000 USD. The triangle formed in the previous week was broken downwards, and this triggered technically based selling pressure. After an indecisive trading day on Tuesday, the tendency for prices to fall continued on Wednesday. On Thursday, the correction that had been ongoing since the beginning of the week bottomed…

A comprehensive overview of the latest developments in the (crypto) markets. Concisely summarized in a market commentary by the CVJ.CH editorial team. Market Commentary Bitcoin (BTC) After Bitcoin reached a new all-time high at $62,000 almost two weeks ago, another correction period followed (-18%). In the context of the macro structure, this was a healthy breather. The positive pattern of higher highs and higher lows thus remains intact, provided that the bottom of this correction was reached yesterday. A renewed attack on the all-time high cannot be ruled out after a potential consolidation phase. Ethereum (ETH) Ethereum follows Bitcoin as…

After stunning the market earlier this year with a bold bet on Bitcoin, Tesla Inc. has now started accepting Bitcoin (the world’s largest electronic currency) as a means of payment for its electric cars. On Wednesday, Elon Musk, founder and CEO of Tesla, announced that American customers can now buy their Tesla with Bitcoin. This is a significant step for the use of the cryptocurrency in commercial trade. The direct payment option will become available to customers outside the U.S. later this year. https://twitter.com/elonmusk/status/1374619379929772034 According to Elon Musk, the cars will be priced globally in dollars, but Tesla will keep…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in the cryptomarkets: Price Movements: Bitcoin is up 99% YTD while gold is down more than 10%. Trading Volume: Trade count has fallen on Uniswap despite soaring volumes. Order Book Liquidity: Price slippage shows how easy it is to move Bitcoin’s price. Volatility and Correlations: USDC is the most stable stablecoin. Financial markets diverge Financial markets have lost momentum in…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation below 60’000 USD In the reporting week, Bitcoin put a marching stop to the upward movement initiated since March 5. This led to a new all-time high at 61,680 USD on Saturday of the previous week. From Sunday and at the beginning of the reporting week, profit-taking set in, which brought the price back to the weekly low of 53,008 USD by Tuesday. The daily closing price and trading activity on Wednesday already took place again at elevated levels above the 57’000 USD zone. From Thursday, the main action took…

Xion Global, a South African based fintech company, has developed a decentralized payments gateway that allows online businesses to accept multiple payment options, including cryptocurrency, which skips the scrutiny of traditional card payment providers. Xion Global was founded by South African brothers Ronan and Aeryn Quarmby and Brent McMahon-Panther, who developed the payment gateway after experiencing frustrations with payment options currently available for online businesses. They felt the system was too complex and the high fee structures automatically excluded smaller business owners. Having spent the last four years in research and development, Xion Global has been registered in the United…

Morgan Stanley becomes the first major U.S. bank to offer its wealthy clients access to Bitcoin funds. The Bitcoin rally over the past year has seemingly put pressure on Wall Street to consider diversification into the emerging asset class. In an internal memo on Wednesday, the investment bank told its financial advisors about this development. As such, access to three different funds will allow for investments in the Cryptocurrency. The significant step for the adoption of Bitcoin as an asset class was made by Morgan Stanley after clients demanded the investment opportunities. At least, that’s what insiders who shared details…

Since the summer of 2019, crypto company Bitcoin Suisse has been waiting for its Swiss banking license. However, the Swiss Financial Market Supervisory Authority (FINMA) has classified the application as not approvable as things stand today. The company has now withdrawn their application. As early as July 2019, Crypto Valley veteran Bitcoin Suisse submitted an application to FINMA for a Swiss banking license. This would help further expand their offering and strengthen their position as a crypto financial services provider. However, FINMA recently expressed concerns about its anti-money laundering defence. Now, the board of directors has decided to withdraw the…

The GameStop (GME) debacle garnered a lot of attention. Some people consider the problem to be centralized systems. According to these critics, the shortcomings of today’s financial system could possibly be solved by decentralized Blockchain alternatives. Robinhood’s trading app came under fire after trading restrictions were imposed on its users. As more brokers followed suit, it sparked an outcry in social media groups, and among elected government officials. Concerned parties suspected an attempt by Wall Street to protect itself against newly empowered populist investors. Depending on one’s perspective, the debacle revealed, on the one hand, the power that large institutions…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in the cryptomarkets: Price Movements: Bitcoin crossed $60k, a premium emerged on BTC-Euro markets, and NFT tokens are soaring. Trading Volume: Binance’s market share of volume continues to grow versus the exchange’s biggest competitors. Order Book Liquidity: Market depth for BTC-USD is heavily skewed towards the sell side, which suggests profit taking preceded this morning’s crash. Volatility and Correlations: 180D…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Another High After Healthy Correction The upward movement set in the previous week consistently continued in the reporting week. On Monday, the Bitcoin price closed at USD 52,394, a level not seen since February 23. The trading action of the previous week led to an effective bottoming after the previous correction. By surpassing the respective highs of the more than 12 days lasting bottom formation, a strong technical signal for a continuation of the ongoing bullish macro trend was set at the beginning of the reporting week. Subsequently, an ascending price…

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review. After a few US companies have made bitcoin investments, the first institutional interest in cryptocurrencies is flaring up from China. Listed tech firm “Meitu” unveiled an initial investment of $40 million this week. The company sees great potential in digital assets and is considering further investments. The Chinese company did not limit itself to Bitcoin (BTC), over 50% of their initial investment was in…

A comprehensive overview of the latest developments in the (crypto) markets. Concisely summarized in a market commentary by the CVJ.CH editorial team. Market Commentary Bitcoin (BTC) After reaching the new all-time high of around $58,000, a sharp correction (-25%) followed, taking the bitcoin price back to the $45,000 zone. In the last two weeks, it recovered quickly and we are back at the all-time high. For the trend of higher highs and higher lows to continue, Bitcoin would now need to be able to prevail. A rejection from the all-time high could lead to a potential double top – a…

For the first time, a digital artwork in the form of a non-fungible token (NFT) was sold at a major auction house. The price of the painting by Mike Winkelmann aka “Beeple” was a record high of $69 million. A milestone for NFTs? “5000 Days” was the first all-digital NFT sold by Christie’s. The first time the auction house agreed to accept payments in Ether (ETH). Last year, they already sold an NFT by British artist Robert Alice. However, this one was linked to a physical work. The piece sold for $131,250, which seems like pittance after “5000 Days.” NFT…