If smart contracts, the self-executing financial agreements that have drawn hundreds of billions of dollars in investment to blockchain networks, seem magical, then maybe it’s time to rewatch “The Sorcerer’s Apprentice.”In the iconic segment of Disney’s 1940 animated film “Fantasia,” Mickey Mouse plays the titular character who learns a hard lesson about the dangers of … [Read more...] about The Downside of Programmable Money
Downside
Record low Bitcoin velocity suggests BTC may ‘move to the downside’
In the early hours of July 14, Bitcoin price took a surprise hit to $31,550 before slowly recovering back above $32,900 in the morning session. The swift drop near the crucial $30,000 resistance raised alarms among bulls and bears and whilst the $30,000 to $32,000 level continues to function as a support level, a recent market update from ByteTree CEO James Bennett paints a … [Read more...] about Record low Bitcoin velocity suggests BTC may ‘move to the downside’
Here’s why pro traders expect further downside from Ethereum price
Derivatives data shows that Ether (ETH) traders are feeling less bullish when compared to Bitcoin (BTC). Even though the altcoin captured a nearly 200% gain in the first half of 2021 versus Bitcoin's modest 22% price increase, traders seem to be more affected by Ether's recent underperformance.Institutional flow also backs the decreased optimism seen in Ether derivatives, as … [Read more...] about Here’s why pro traders expect further downside from Ethereum price
Ethereum, altcoins risk more downside than Bitcoin if BTC losses $30K, warns analyst
Altcoin traders and investors should look for cover if Bitcoin (BTC) undergoes major price declines.So believes Filbfilb, an independent market analyst and co-founder of Decentrader trading suite. In a tweet published late Friday, the pseudonymous entity said a 30% crash in the Bitcoin market could prompt altcoins to drop twice as harder.When Bitcoin consolidated between … [Read more...] about Ethereum, altcoins risk more downside than Bitcoin if BTC losses $30K, warns analyst
Bitcoin price clings to $32K as on-chain metrics hint at further downside
Cryptocurrency investors awoke to another round of price declines on June 22 after the price of Bitcoin (BTC) dropped to a 6-month low at $28,805. The dip below the crucial $30,000 level might appear to be a prime buying opportunity but data shows that institutional investors are continuing their longest selling streak since February 2018.Data from Cointelegraph Markets Pro and … [Read more...] about Bitcoin price clings to $32K as on-chain metrics hint at further downside