Anthony Scaramucci, the founder of the global investment firm SkyBridge Capital that recently launched a Bitcoin fund, envisions massive gains for the cryptocurrency. Furthermore, the former investment banker at Goldman Sachs said that BTC is “better at being gold than gold is.”Bitcoin Is The Better GoldApart from founding his own investment company and working in the financial sector, Scaramucci also served as the White House Director of Communications briefly in 2017.More recently, he has...
Read More »Compared to The 2017 Bull-Run Bitcoin Has a Lot More To Grow, Research Says
According to the BTC MVRV-Z score, a metric that has a strong relation with the asset’s price, the cryptocurrency has increased to its highest level in about three years. However, the last time the MVRV-Z reached a similar position, bitcoin exploded by 10x in the next six months.BTC MVRV-Z score Suggests Further Increases?The analytics firm Glassnode describes the MVRV-Z score as a metric that compares market value and realized value to assess when an asset is overvalued or...
Read More »Market Watch: Bitcoin Dominance Eyes 70% As Total Market Cap Inches From $1 Trillion
As bitcoin jumped to a fresh all-time high of nearly $36,000 earlier today, most alternative coins have followed suit. Consequently, the total market cap has reached another ATH and has neared $1 trillion, while BTC’s dominance eyes 70% once again.Exploding Alts Lead To ATH In The Market CapJust a few days ago, the cryptocurrency market plummeted in value with massive double-digit price drops from most alternative coins. However, the situation has changed completely 48 hours later.Ethereum...
Read More »Bitcoin Skyrockets $2000 Surpassing $34K: New ATH Soon? (BTC Price Analysis)
Bitcoin witnessed a solid 8% price spike today, including a $2000 rally over the past few hours alone. While today’s low lies below $30K, the current high reached $34,300 (according to Bitstamp). Incredible.As can be seen on the 1-hour chart below, once Bitcoin breached the marked descending trend-line, the missile had launched. One 4-hour greenish candle spiked BTC from $32K straight to $34.3.The total crypto market cap surpassed $900 billion, the market is closing down on $1 trillion for...
Read More »CME Sees Trading Volume ATH Above $2.7 Billion During Bitcoin’s Latest Drop
Yesterday’s highly volatile BTC performance has led to increased trading volumes on numerous platforms, including CME Bitcoin futures registering a new all-time high of $2.7 billion.BTC Futures Record Trading Volume On CMELaunched in late 2017, the Chicago Mercantile Exchange allows institutional investors to trade with the primary cryptocurrency on a regulated platform. Apart from short-lived low levels of trading volume, the exchange has enjoyed increased adoption from such customers.Data...
Read More »Research: Bitcoin’s $6K Monday Crash Wasn’t Driven By Institutional Investors
Recent data indicated that mid-tier traders took profits before and during yesterday’s massive price drops for bitcoin and Ethereum. Furthermore, it disputed the assumptions that whales and institutional investors have disposed of their BTC holdings.Mid-Level BTC Holders Took Profits Amid The DropFollowing the highly positive first days of 2020 in which bitcoin exploded above $30,000 to a new all-time high of nearly $35,000, the cryptocurrency retraced heavily yesterday. As CryptoPotato...
Read More »Why Warren Buffett’s Longtime Partner Is Wrong About Bitcoin (Opinion)
Bitcoin’s price has gone on an impressive run in the last few weeks, accelerating at a parabolic rate. Despite the most recent correction, the asset is still trading somewhat solidly above the $30,000 mark, charting an impressive increase of 310% since the same time last year.Yet, Warren Buffett’s longtime partner, Charlie Munger, is still far from being convinced on anything bitcoin. And he’s wrong.Charlie Munger: Investing in Bitcoin Is DementiaWriting for Yahoo Finance, GuruFocus’ John...
Read More »Taking Bitcoin Profits: deVere Group CEO Sold Half His BTC But Remains Bullish
Nigel Green, CEO of the independent financial advisory organization deVere Group, has sold half of his bitcoin stash during the Christmas holidays. However, he maintained his bullish position on the cryptocurrency for the long-run while highlighting the growing adoption curve.Green Sells Half Of His BTCFounded in 2002, deVere Group is a large financial advisory company with over 80,000 clients in 100 countries. Its CEO, Nigel Green, has been a long-term BTC supporter who describes himself as...
Read More »Bitcoin Price Analysis: Following The Massive BTC Sell-Off, Is The Correction Over?
Bitcoin price saw a day of major volatility after topping out at $34,800 yesterday. From there, the primary cryptocurrency started the week by dropping a sharp 16% to reach as low as $27,800 on Bitstamp in a much-needed retracement following an enormous rally.As shown on the daily chart below, Bitcoin reached the lower line of the ascending channel.In our yesterday’s analysis, we mentioned some bearish divergence on the 4-hour timeframe, which seems to have played out today. This retracement...
Read More »Three Arrows Capital Holds Nearly 37,000 BTC Through The Grayscale Bitcoin Trust
Three Arrows Capital, a fund management company registered and supervised by the Monetary Authority of Singapore, disclosed a massive BTC position through the Grayscale Bitcoin Trust. The firm owns over 6% of all GBTC shares, meaning a total amount of almost 37,000 bitcoins.According to a document that Three Arrows Capital filed with the US Securities and Exchange Commission (SEC), the company owns 38,888,888 shares of the Grayscale Bitcoin Trust.This represents 6.1% of all 638,906,600 shares...
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