Bitcoin on the road to recovery? BTC dominance catching up

The crypto market is starting the new week with its head down after the crash. The biggest landslide seems to have been digested, but aftershocks have slowed down the recovery so far.

Bitcoin and Bitcoin Prime

Bitcoin Prime and co. were not spared the turbulence over the Whitsun weekend either. The total market capitalisation has fallen by 300 billion US dollars since Friday and is only just above 1.5 trillion US dollars. During the same period, the Bitcoin price was able to catch up to 40,000 US dollars. However, profit-taking pushed the price back down to 34,000 US dollars on Saturday. The cryptocurrency thus fell back 21 per cent in a weekly comparison, but started its next attempt to catch up and gained 2.2 per cent in a daily comparison. At the time of going to press, the BTC price is quoted at 36,538 US dollars.

The aftershock of panic selling has so far shattered the initial attempts at bottoming in the crypto market. Even for the second largest cryptocurrency. Since Ethereum narrowly missed a connection to the 3,000 level on Thursday, the No. 2 has been sliding lower and lower. However, the Ether price has recovered somewhat from yesterday’s weekly low at 1,850 US dollars. At the moment, Ethereum is trading at 2,291 US dollars – a weekly minus of 36 percent.

For the rest of the ten largest cryptocurrencies

For the rest of the ten largest cryptocurrencies, the situation does not look much rosier in the weekly view. Cardano (ADA) is down 35 per cent to US$1.49. Binance Coin (BNB) slips back nearly 47 points, while Dogecoin (DOGE) and XRP each drop 34 and 41 percentage points in the last seven days.

Polkadot (DOT) and Internet Computer (ICP), newly included in the ranking of the ten largest crypto assets, have been hit with 53 and 30 percent price drops, respectively. The ongoing carnage is reflected in Coin360’s overall market visualisation, which has been bathed in red for days.

At least in the weekly view. A little more hope arises when looking at the daily performance. At the moment, re-buying is pushing the crypto market back into positive territory. However, it is questionable whether this will initiate a trend reversal. Similar patterns can be seen again and again after such a crash. As soon as the return is large enough to compensate for the losses incurred in the flash crash, sell-offs are likely to push the overall market down again. This highly volatile move could keep the market on the road to recovery for a few more days.

Bitcoin dominance catches up

Bitcoin’s share of the total market capitalisation has been steadily spiralling downwards in recent weeks. Just a week ago, on 18 May, Bitcoin dominance stood at just under 40 per cent, its lowest level in three years. The slide in BTC dominance has mainly signalled the rally on altcoins, which have been impetuously rushing from one record high to the next. The low value already indicated that some small bubbles have formed in the market. A high Bitcoin-centricity and thus dependence on the cryptocurrency does indeed also create a pitfall. But the distribution of market shares in favour of a few hype coins was the hallmark of an unhealthy and, in retrospect, dearly bought rally.

La scala di grigi possiede ora il 2,5% di tutti i Bitcoin in circolazione dopo aver aumentato le sue riserve di 17.100 BTC

Grayscale Investments, LLC offre agli investitori istituzionali la soluzione di custodia più semplice. Attraverso il Grayscale Bitcoin Trust (GBTC), gli investitori e le istituzioni ad alto patrimonio possono ottenere un’esposizione di bitcoin senza dover detenere il patrimonio. Dall’inizio di quest’anno la GBTC ha acquistato una quantità gigantesca di BTC. Questo suggerisce semplicemente che c’è una domanda esorbitante di bitcoin da parte degli operatori istituzionali.

In particolare, Grayscale ha aumentato le sue riserve di altri 17.100 BTC nel corso dell’ultima settimana – ovvero 183 milioni di dollari di bitcoin. Questo è stato osservato dal fornitore di informazioni crittografiche Bybt. Le informazioni sulla posizione di Grayscale in bitcoin sono disponibili anche sul sito web dello studio per motivi di trasparenza.

Come tale, GBTC ha ora quasi 450.000 monete in gestione per un valore di circa 4,7 miliardi di dollari

Ciò significa essenzialmente che il Grayscale Bitcoin Trust – che è stato lanciato il 25 settembre 2013 – controlla ora il 2,5% di tutte le BTC in circolazione.

In prospettiva, il Bitcoin ha un’offerta di 21 milioni di dollari. Nel corso del fine settimana, il 18,5 milionesimo bitcoin è stato estratto, secondo i dati forniti da Ciò implica che ora ne rimangono meno di 2,5 milioni per la produzione dei minatori.

Se Grayscale decidesse di smettere di acquistare BTC in questo momento, controllerebbe ancora il 2,5% dell’offerta totale per il momento in cui l’ultimo bitcoin sarà coniato (probabilmente intorno al 2140).

La scala di grigi ha aumentato le sue riserve di BTC tra i prezzi in difficoltà

È interessante notare che la scala di grigi ha continuato a raccogliere bitcoin nonostante i prezzi poco brillanti. La più grande crittovaluta del mondo per capitalizzazione di mercato ha cercato di cancellare il livello di 12.000 dollari all’inizio di questo mese, ma ha dovuto affrontare un rifiuto brutale. Da allora BTC è rimasta in bilico nella regione superiore dei 10.000 dollari, incapace di eliminare completamente gli 11.000 dollari.

Mentre le riserve di BTC costituiscono la percentuale maggiore del patrimonio di Grayscale, l’azienda ha recentemente rivelato di avere circa 5,8 miliardi di dollari in gestione.

Questi cripto-assets includono, oltre a BTC, anche ethereum (ETH), Bitcoin Cash (BCH), Horizon (ZEN), Stellar Lumens (XLM), Ethereum Classic (ETC), Zcash (ZEC), Litecoin (LTC) e Ripple’s XRP.

Vale la pena di menzionare un rapporto pubblicato da Grayscale all’inizio di questo mese. La società di investimento ha indicato che diverse strutture a catena di blocchi suggeriscono che l’attuale struttura del mercato è stranamente simile all’inizio del 2016, poco prima del mercato dei tori parabolici. Se la storia fa rima, Grayscale sta certamente sostenendo il cavallo giusto accumulando BTC.

Bitcoin ATMs: Robocoin in the global fast lane, Altcoins follow suit

After today’s fall in prices, you may no longer be able to buy Bitcoins with your Chinese bank account, and the local Bitcoin dealer will probably have taken the plunge. But maybe some of you will be lucky enough to be able to use the nearest Bitcoin vending machine.

Every week the number of new Bitcoin machines grows. The weekly Bitcoin ATM overview includes some new exotic locations, unexpected events and last but not least 3 new old coins.

Bitcoiniacs and

The Canadian companies and Bitcoiniacs, who already inaugurated the world’s first Robocin Bitcoin vending machine in Vancoouver, announced a global campaign and reported on partnerships with various Bitcoin groups worldwide. Below are the new locations of the vending machines.

London, England
One of the partnerships was with the English company QuickCoin, who launched their first Robocoin vending machine near Liverpoll Station in a coffee shop called The Vape Lab. The machine is already the third Bitcoin machine alongside another Robocoin and Lamassu machine. Co-founder of Cointrader said:

„It becomes easier every day to buy Bitcoin in England“

We now offer our customers four different ways to trade Bitcoin.

Bucharest, Romania
Another Robocoin machine was installed in cooperation with Bitcoin Romania on April 18th in Bucharest. It is the first machine in continental Europe.

The group says the machine is currently undergoing some testing and they hope to be able to put the Bitcoin machine into operation soon.

Texas, USA
Businessman Sheldon Weisfeld of Coinvault also took the Robocoin vending machine with him and is now promoting it in Texas. Coinvault has already installed two Robocoin machines in Texas, one at Texas Gun Works in Austin and one at Brave News Books, a bookstore near Austin.

Bitcoin ATMHong Kong
Hong Kong has already installed two Lamassu machines, but wants to take the next step. Coinnect commissioned a Genesis1 two-way vending machine at 100 Cyberport Road in Hong Kong on April 25.

Whistler, Canada
Logicoins has also installed a Genesis1 machine in a therapy centre at a tourist resort in Whistler. The vending machine, which also trades Litecoins and Dogecoins, is part of the Logicoin „Resort Project“ which aims to install Bitcoin vending machines at locations where people quickly get tempted to use digital currencies: Especially in holiday regions.

Moscow, Russia
It may not be installed yet, but for a country teeming with regulations, it’s just the beginning. At the Bitcoin conference on 23 April in Russia, the local company CoinSpot demonstrated a Lamassu Bitcoin vending machine to its visitors.

Bitcoin vending machine

Enough of Bitcoin machine stories?
Then we have a little bonus. Not only London has three working Bitcoin vending machines, it also looks like the Altcoins want to share the fun with the Feathercoin.