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More Crypto Billionaires on Forbes 2021 List

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The growing adoption of Bitcoin by large institutions is also a factor that affects the expansion of the crypto market.

The rise in the value of Bitcoin and other altcoins has pushed nine new crypto billionaires to enter the Forbes list. The new crypto billionaires joined the four that made it to the list in 2020. In total, 12 crypto billionaires are now on the 2021 Forbes World’s Billionaires list.

Nine Crypto Billionaires Enter Forbes 2021 Billionaire List

The new crypto billionaires on the 2021 Forbes list include Cameron and Tyler Winklevoss. The Winklevoss brothers’ net worth is $3 billion each. Cameron and Tyler have launched their crypto exchange Gemini and also acquired digital art marketplace Nifty Gateway. Michael Saylor, the MicroStrategy CEO, is also one of the new names on the Forbes list. Saylor’s net worth is $2.3 billion. Other new crypto billionaires on the list are Matthew Roszak, Tim Draper, Fred Ehrsam, Barry Silbert, Jed McCaleb, and 29-year old crypto wealthiest billionaire Sam Bankman-Fried.

With the addition of nine crypto billionaires on the Forbes list, this shows that the crypto space has evolved over the year. In March 2020, the US economy plunged as a result of the unprecedented global health crisis. The decline raised worries among investors who neglected stocks and other risky assets for cash and treasuries. During the same period, the price of Bitcoin dropped about 50% in just a day. Other cryptocurrencies also recorded significant losses following Bitcoin’s price fall.

Now, cryptocurrencies have rebounded from the losses. Bitcoin has pulled in gains in the last twelve months, reaching new highs. Bitcoin has increased more than 100% since the year began. Also, the leading digital coin reached its all-time high of nearly $62,000 in March. Bitcoin is currently trading at $57,013, down 1.56% in the last 24 hours. Data provided by CoinMarketCap shows that BTC has a market value of over $1 trillion and gained 1.55% to more than $71 billion in its 24-hour trading volume.

Increase in Crypto Value Pushes Total Crypto Market to $2 Trillion

Similarly, other cryptocurrencies have spiked over the past year. The constant increase in cryptocurrencies has pushed the total crypto market to cross over $2 trillion on the 5th of April. The milestone for the crypto market came about three months after it reached $1 trillion market value.

The growing adoption of Bitcoin by large institutions is also a factor that affects the expansion of the crypto market. Nasdaq-listed company MicroStrategy has been purchasing large amounts of Bitcoin since August last year. The company now owns more than 90,000 Bitcoins. Similarly, electric vehicle company Tesla Inc (NASDAQ: TSLA) recently invested $1.5 billion in Bitcoin as part of the company’s updated investment policy. In addition, payments firm Square Inc (NYSE: SQ) has added to its Bitcoin acquisition after the initial $5 million investment in October 2020.

next Altcoin News, Bitcoin News, Cryptocurrency news, News, Personal Finance

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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Markets Pro sounds the alert as RUNE, DOGE and XRP skyrocket

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It’s been a spectacular week for the Cointelegraph Markets Pro VORTECS™ Score, which alerted subscribers to several of the top crypto asset price movers hours before the price began to climb.

DOGE analysis

Dogecoin (DOGE) has been the standout performer of the week, confounding analysts who look for fundamental strengths in an asset — the meme coin may not have much of a team, or a genuine use-case, but it has Elon Musk, Mark Cuban… and the support of their millions of fans.

Dogecoin crossed the 80 VORTECS™ line on the morning of April 13, when the price curve was still flat at around $0.073 (first red circle). Apparently, the model has recognized a familiar confluence of celebrity tweets and rising trading volume. Closer to the early hours of April 14, the price line followed suit, pumping all the way to $0.141 (first two red boxes in the graph).

And just as expected, after a rapid climb VORTECS™ anticipated a price decline (second red circle), as has happened many times in the recent past with Dogecoin. Although it was not particularly dramatic, a correction to $0.110 followed in several hours (third red box).

While the 7-day graph above, captured on April 15, demonstrates the VORTECS™ Score operating exactly as hoped, a later capture on April 17 (below) illustrates the limitations of any dynamic modeling algorithm entering unfamiliar territory.

The VORTECS™ Score includes sentiment analysis, tweet and trading volume, and price action as components of the algorithm — which are then weighted according to a proprietary formula based on how similar these are to historical conditions. If there is a similarity in these factors, the score will be higher when historical precedents have most consistently led to higher prices.

But with DOGE this week, there are almost no parallels in history — after breaking all-time highs, the coin just kept climbing. Since VORTECS™ was unable to see historic similarities to this rapid ascent, it stayed fairly neutral after the initial wave of buying (orange box).

XRP analysis

Ripple’s XRP cryptocurrency continued its glorious comeback this week after a series of mild setbacks for the Securities and Exchange Commission in their case against the company, making it to the Top Performers section of the second consecutive VORTECS™ report. On April 12, it entered a streak of dark green VORTECS™ scores at around $1.37. Some 12 hours later, it took off to eventually reach $1.93 (first and second red boxes).

RUNE analysis

THORChain recorded a series of high VORTECS™ values during downward price movement toward a low point of $10.67. Roughly 26 hours later, the price began climbing toward the subsequent high point of $16.46, a 54% improvement compared to the moment when the first dark green score was detected.

The IOST NewsQuake™

The April 13 announcement of a Binance staking promo featuring IOStoken carried the asset to a 53% price increase over 24 hours. Note how there are actually two NewsQuake™ symbols on the token’s VORTECS™ graph sitting close to each other. This is not a glitch: Although the substance of the news is nearly identical, one represents a Medium post by IOS Foundation, while the other marks a tweet from Binance’s official account.

In a game where minutes can make a difference, Markets Pro strives to deliver actionable news as soon as it becomes available. NewsQuakes™ are sourced from a real-time aggregation engine, collated from over a thousand primary sources every minute and analyzed by an AI algorithm to determine the historical significance of the news. NewsQuakes™ are trained on staking announcements, exchange listings and key partnerships, and because they are delivered without human intervention, they can often be the fastest way for market participants to learn about major events in the cryptocurrency space.

VORTECS™ Score testing results

Cointelegraph Markets Pro continues to track 42 separate live-tested strategies, using a simple method described here.

These strategies are based on time-based or score-based exits. For example, the current top-performing strategy since testing began is the Buy 90 / Exit after 168 hour strategy, which measures the price of an asset the moment its VORTECS™ Score crosses the 90 threshold, and then again exactly 168 hours from that initial measurement. The difference is the return on investment (ROI) that is recorded.

That strategy has delivered a ROI of 1,837% since January 5, which compares favorably to holding Bitcoin (87% ROI) or holding an equally-weighted basket of altcoins (470% ROI) over the same time period.

However, all strategies have blips — this week, strategies based on entrance points of 90 underperformed those with entry points of 80, illustrating that even the most advanced algorithms can pick a few duds from time to time.

Time-based strategies: All-time ROI

Score-based strategies: All-time ROI

Time-based strategies: Weekly ROI

Score-based strategies: Weekly ROI

Cointelegraph Markets Pro is available exclusively to subscribers on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.

Important Disclaimer

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.



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Bitcoin to close April above $90K? When & where this bull wave will top

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The cryptocurrency markets experienced a monumental green wave this week. Bitcoin and Ether calmly made new all-time highs on the back of Coinbase’s direct listing and the Berlin hard fork. Meanwhile, meme-cryptocurrency Dogecoin blasted off to more than 400% gains, briefly claiming a spot as a top 5 cryptocurrency by market capitalization. 

Despite the media hype and market movements of this week, PlanB showed Bitcoin still isn’t as overbought as it was at the peaks of the 2017, 2013, and 2011 bull cycles. He calculated that if Bitcoin were to reach those levels by April’s end, its price would clear $90K.

Yet, this explosive week still has many wondering, “Does the market have enough steam to continue this bull wave?”

Experienced trader and market analyst Eric Crown thinks so:

“Until I see a weekly reversal, I will not be calling a high. I will not be really pulling out at least of spot markets for that time and just trying to enjoy the ride.”

In this exclusive Cointelegraph interview, Crown explains:

  • Short, medium, and long term price targets for Bitcoin and Ether
  • How to spot a top in the market
  • Why the Coinbase listing could lead to a U.S. Bitcoin ETF and six-figure Bitcoin
  • Why DOGE saw the largest gains of any cryptocurrency this week

Watch the full video on Cointelegraph’s YouTube channel and don’t forget to subscribe!



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BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, UNI, LINK

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Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap.

This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017.

Rallies like the one seen in Dogecoin indicate that several traders have entered the fray and are looking to get rich overnight. The only positive sign is that the mania has not spread to other coins. If it does, then the crypto markets are likely to witness a sharp correction in order to shake out the weak hands.

CNBC host Jim Cramer has become one of the first well-known people to reveal that he closed half of his Bitcoin (BTC) position. While Cramer’s selling is an isolated event, it does warn that not all professional investors who have recently turned Bitcoin believers are going to be long-term HODLers.

Daily cryptocurrency market performance. Source: Coin360

If the institutional investors rush to the exit, it could cause a huge correction in several cryptocurrencies. Traders should be mindful of irrational exuberance and avoid being sucked into FOMO-driven trades as it’s better to stick to a trading plan and think long-term rather than dream of overnight riches.

Let’s study the charts of the top-10 cryptocurrencies to identify the critical support levels and outline various bullish and bearish scenarios.