Bitcoin's rocky road to becoming a risk-off asset: analysts investigate
Bitcoin has long been known as a “store of value,” but is the world’s largest cryptocurrency transitioning to becoming a risk-off asset in 2022? May 5th was a bloodbath for traditional and cryptocurrency markets. On the worst day of trading since 2020, Bitcoin (BTC) dropped over 7% while the NASDAQ slipped over 5%. Many hoped for capitulation in the trade and crypto markets, and although the short-term outlook for Bitcoin looks weak, one analyst and some evidence would suggest that Bitcoin is still on course to becoming a risk-off asset.Markets are by no means maths-based or infallible,....
Related News
The story of Silk Road is far from finished by the look of things. Gary Davis, also known as Libertas on the deep web marketplace, is fighting his extradition to the US. If he is successful in doing so, he will not be charged for his alleged involvement in Silk Road. The FBI strongly feels they have evidence linking his real identity to that of the Libertas administrator position on the platform. This whole debacle dates back to 2013 when the DOJ served Microsoft with a warrant. Apparently, law enforcement agencies wanted to investigate a particular Microsoft Outlook account. At that time,....
The deep web black market site Silk Road is known for two things: as a place to buy drugs and other illegal products, and for being an early adopter of bitcoin. However, the site appears to have experienced some unusual troubles recently and some analysts are tying Silk Road's problems directly to bitcoin. Silk Road suffered a lengthy outage in the last 24 hours, apparently due to a denial of service (DDoS) attack. The site has resumed service, but there's speculation that hackers attack places like Silk Road because of the connection to bitcoin (some bitcoin exchanges, notably the....
Back in October many of the trolls and ents of Reddit muttered and mumbled to themselves about joining together in a class action lawsuit to claim pieces of the 29000 Bitcoins seized by the FBI on October 2nd, 2013. The 29,000 Bitcoins taken from Silk Road servers on that day belonged to the international motley crew of buyers and sellers on Silk Road. Many of those Bitcoins were tied up in escrow in ongoing deals, or simply sitting in the accounts of buyers and sellers waiting for withdrawal or use. Nothing came of all the hubbub raised by Silk Road users about their Bitcoins being swept....
To investigate the opportunities and hazards that crypto assets present for consumers and businesses, UK Lawmakers Treasury Select Committee has opened an investigation into them. UK Lawmakers Launch Inquiry Today, July 13, the committee requested written evidence on digital currencies from industry stakeholders in the crypto asset sector. The Committee will investigate the function of […]
Bitcoin has seen some rocky price action as of late, with bulls and bears battling for control over the cryptocurrency’s mid-term outlook. So far, this has resulted in the cryptocurrency seeing some bearish momentum, with sellers taking general control over its trend. This may soon change, however, as buyers are in the process of pushing […]