Bitcoin

Bitcoin’s ascent above $19,500 was cut short early on Tuesday, possibly due to profit taking by large Asia-based investors, according to one analyst. The top cryptocurrency fell from $19,555 to $19,035, with most of the drop unfolding during the two hours to 06:00 UTC, according to CoinDesk 20 data. “I think Asian whales sold around $19,500 causing prices to drop,” Ki Young Ju, CEO of South Korea-based blockchain analytics firm CryptoQuant, told CoinDesk. He highlighted an increased… Source link

Bitcoin and major cryptocurrencies including ethereum, Ripple’s XRP, litecoin and chainlink are eyeing two huge pillars of support in the run up to Christmas. The bitcoin price, boosted along with equity markets by massive government stimulus measures throughout 2020, last month climbed back to its 2017 all-time highs of around $20,000 per bitcoin. Now, after a bipartisan group of lawmakers outlined details of a $908 billion stimulus package on Monday, traders are closely watching for… Source link

Banca Generali listed in the MIB in Milan (Photo by Alexander Pohl/NurPhoto via Getty Images) NurPhoto via Getty Images Banca Generali is to provide bitcoin custody to its customers following an agreement with Conio that will see the bank acquire a $14 million stake in the crypto-focused fintech. Financial institutions that once gave cryptocurrency the cold shoulder are now embracing it in the latest deal that further demonstrates the convergence of… Source link

The Bitcoin price (BTC) surged above $19,500 briefly on Dec. 15, reaching as high as $19,570 on Binance. However, BTC then dropped to $19,050 within three hours, recording a sudden 2.5% pullback. Bitcoin spiked to around $19,600 from the momentum of its relief rally and negative futures market funding rates. But it rejected the same level it broke down from since November due to selling pressure from whales. Bitcoin 1-hour price chart (Coinbase). Source: TradingView.com A relief rally for… Source link

Bitcoin climbed over the weekend to the $19,200 territory. Looking at ether’s price as a percentage of spot BTC, it may be undervalued. Bitcoin (BTC) trading around $19,196 as of 21:00 UTC (4 p.m. ET). Gaining 0.35% over the previous 24 hours. Bitcoin’s 24-hour range: $18,990-$19,323 (CoinDesk 20) BTC near its 10-hour moving average but above the 50-hour on the hourly chart, a flat-to-bullish signal for market technicians. Bitcoin trading on Bitstamp since Dec. 11.Source: TradingView The… Source link

Bitcoin was lower on Monday, holding just above $19,000 after rallying about $1,000 over the weekend. “There is an element of fatigue, with the market unable to drum up the momentum needed to spur us to new highs,” Matt Blom, head of sales and trading for the cryptocurrency firm Diginex, told clients in an email. In traditional markets, European shares rose the U.K. and European Union agreed to extend talks over a Brexit-related trade deal. U.S. stock futures pointed to a higher open as… Source link

Bitcoin’s revived uptrend could soon lead to a much-anticipated breakout above the $20,000 mark, according to several analysts. “We have witnessed a large move up over the weekend, with MicroStrategy’s efforts to increase bitcoin holdings from several large players bringing with it fresh optimism,” Matthew Dibb, COO at Stack Funds, told CoinDesk. “Our belief is that we will see a breach of $20,000 in the coming weeks.” On Friday, business intelligence firm MicroStrategy raised $650… Source link

The Bitcoin price has seen a stunning rally throughout 2020, rising from $3,600 in March to over $19,000 in December. In the longer term, JPMorgan JPM strategists say a $600 billion catalyst potentially awaits for the dominant cryptocurrency. According to a note from JPMorgan strategists including Nikolaos Panigirtzoglou, a 1% allocation from pension funds and insurance firms in the U.S., eurozone, U.K., and Japan would amount to $600 billion. Currently, the market capitalization… Source link

According to data, bitcoin balances on exchanges are shrinking a great deal and have dropped to levels not seen in two years. Arcane Research detailed that charts showing the number of bitcoin leaving exchanges has seen a sharp decline and has been “one of the main stories of the year.” Meanwhile, onchain metrics indicate a number of older coins are being sold as bitcoin’s value increases. Bitcoin Held on… Source link

Earlier this week, JPMorgan published a global markets strategy note that points out money has flowed out of gold and into bitcoin since October, and predicts this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin… Source link