This has been a history-making week, and I’m not just talking about the rollout of coronavirus vaccines. On Wednesday, Dec. 16, we witnessed the largest cryptocurrency in the world by market cap, bitcoin, blow past its previous high and eclipse $20,000 per token. In fact, bitcoin went on to also blow by $21,000 and $22,000 within a matter of hours. For as volatile as the stock market has been in 2020, you wouldn’t know it by looking at bitcoin, which is up by 201% on a year-to-date basis… Source link

Bitcoin has surged higher again, soaring to fresh new all-time highs of over $24,000 per bitcoin after beginning the week at under $19,000. The bitcoin price, up a staggering 30% this week alone, climbed to $24,220 on the Luxembourg-based Bitstamp bitcoin and cryptocurrency exchange before falling back slightly. However, amid this week’s huge bitcoin and cryptocurrency Santa rally—which has added over $100 billion to the value of the world’s digital tokens—Coinbase chief executive… Source link

In the past seven days, the Litecoin price has increased by over 60%. It is the best-performing cryptocurrency in the past week, outperforming both Bitcoin and decentralized finance (DeFi) tokens. There are three major reasons why Litecoin has been rallying in tandem with Bitcoin. The reasons are a breakout against BTC, the historical relevance of LTC in previous bull cycles, and the growing certainty around BTC’s price cycle. The 5-day price chart of Litecoin. Source: LTCUSD on… Source link

After Bitcoin (BTC) hits a new all-time-high, Litecoin (LTC) breaks through to the highest price it has seen in over a year. Silver to Gold While Bitcoin (BTC) gets all the big congratulations and handshakes, Litecoin (LTC) has been slowly growing behind the scenes. Originally intended to test out new features that might make the Bitcoin network unstable, Litecoin has been a major also-ran in the world of crypto. Litecoin is the digital silver to bitcoins… Source link

A chain of block erupters used for Bitcoin mining. REUTERS/Stephen Lam Bitcoin’s market cap could hit a trillion dollars as early as 2021, according to Blockchain.com’s head of research. “My expectation is that bitcoin will become a trillion dollar asset as early as next year,” Garrick Hileman, who is also a visiting fellow at the London School of Economics, told Business Insider. Although the 2020 bitcoin rally was largely driven by institutional investors, he expects to see… Source link

At the outset, everyone should understand that cryptocurrencies fundamentally differ from stocks. Stocks have intrinsic value — they represent a real piece of a physical business. In the short term, stocks can swing up and down for no apparent reason, but long-term, as a company’s intrinsic value increases or… Source link

Ethereum Ethereum rose by 1.77% on Friday. Following a 0.86% gain on Thursday, Ethereum ended the day at $654.66. A mixed start to the day saw Ethereum fall to an early morning low $629.59 before making a move. Steering clear of the first major support level at $62.109, Ethereum rallied to a late morning intraday high $664.46. Falling short of $670 levels and the first major resistance level at $671.35, Ethereum fell back to an afternoon low $631.02. Finding late support, however, Ethereum moved… Source link

Bitcoin has broken fresh ground this week, climbing above $20,000 per bitcoin for the first time ever and grabbing global attention again three years after bitcoin’s 2017 boom and subsequent bust. The bitcoin price is up around 30% over the last month, adding to gains of more than 200% since January—and pushing up other top five cryptocurrencies by value ethereum, Ripple’s XRP, and litecoin. Ethereum, Ripple’s XRP, and litecoin, some times known as alt coins, have all soared by more… Source link

Illustration by Bill Butcher Text size Around 2013, one common way to buy… Source link

Despite bitcoin trading near all-time highs, more institutions continue to buy bitcoin, and they’re using over-the-counter (OTC) trading firms to keep their purchases from impacting the overall market.  Unlike retail investors or smaller institutions that use crypto exchanges, large institutions usually trade bitcoin through the OTC market, noted John Todaro, director of institutional research at cryptocurrency analysis firm TradeBlock. That way, their transactions won’t move prices the… Source link