Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays

Bitcoin (BTC) likely bottomed when it hit $3,700 this week but will likely dive below $5,000 one more time, says Tone Vays. In the latest edition of his Trading Bitcoin YouTube series on March 13, the veteran trader described the week of mayhem for Bitcoin which culminated in 60% daily losses as the capitulation he’s been waiting for. Vays: “All signs point to final capitulation” Introducing the episode on Twitter, he summarized: “All Signs Point to this being the final capitulation of the 2 year Bear Market.” Traditionally conservative about…

CoinDesk Takes Consensus 2020 Virtual

With the COVID-19 pandemic worsening throughout the world, CoinDesk is taking immediate action on Consensus 2020. As the organizers of Consensus and Blockchain Week NYC, our goal has always been to bring the community together to educate, grow and create meaningful connections in a safe location. It is no longer possible to do that in a physical location.  Nonetheless, we are seizing an opportunity to make the most of this otherwise extremely difficult situation. Consensus 2020 will now be a completely virtual experience, where attendees from all over the world…

Bitcoin Paints V-Shape Recovery after Crashing to $3.8K; More Pain Coming?

Highlights: Bitcoin plunges to $3.8K for the first time since April 2019. The cryptocurrency’s deep dive came alongside a massive liquidation spree on the BitMEX crypto exchange. The price recovered by $2,000 but left the market in further distress, especially amidst the rising Coronavirus risks on global financial markets. Bitcoin fell to its 10-month low this Friday the 13th as liquidation went rampant on crypto derivatives exchange BitMEX. Sam Bankman-Fried, the CEO of Hong Kong-based crypto derivatives exchange FTX, alleged that BitMEX failed to liquidate an adequate number of bitcoin tokens…

DeFi Skepticism, Decentralization, Tax Define London Blockchain Week

The final stage of London Blockchain Week looked as if it would be the latest victim to the coronavirus crisis. Many of the events that had initially been set to take place physically were held online. Others were canceled outright. But the jewel in the crown of blockchain week in London, CryptoCompare’s Digital Asset Summit, went ahead as planned.  Rumors swirled that there would be poor attendance and mass dropouts from panelists. Many of the week’s previous events had suffered from coronavirus fears, and venues were often half-empty. The massive…

Bitcoin Is Carving Short Term Bottom Near $4K After A Massive 50% Decline

Bitcoin is down more than 50% and broke many key supports such as $5,000 against the US Dollar. BTC price seems to be forming a short term bottom near $4,000 and it could recover. Bitcoin tumbled below many important supports and tested $4,000 against the US Dollar. The price is currently recovering from a major technical level near the $3,900 area. There was a break below a key bullish trend line with support at $8,480 on the daily chart of the BTC/USD pair (data feed from Kraken). A short term…