Bitcoin

The CEO of Nasdaq-listed billion-dollar company Microstrategy has made a strong bull case for bitcoin. He says there is a $250 trillion ocean of assets looking for the ideal store a value right now and bitcoin is a better store of value than gold or tech stocks, so “a lot of that monetary energy is going to flow from the asset ocean into the crypto pond.” Comparing Bitcoin to Investing Early in Apple, Google,… Source link

The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC. Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally. BTC/USD. Source: TradingView.com Why $12.5K and $11.9K are crucial for the current Bitcoin rally The Bitcoin price dropped sharply on the day due to the… Source link

Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind. In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of value. Pomp on safe haven Bitcoin: “The market is proving it” Pompliano uploaded a chart from behavior analysis platform Santiment, which showed Bitcoin hitting 0 for… Source link

Bitcoin was higher, appearing to hold above $13,000 for the first time since January 2018.  But the most drama in crypto markets came after an exploit of the decentralized finance protocol Harvest Finance sent the platform’s native FARM token tumbling by 65% in less than an hour. In traditional markets, European stocks slid as Spain declared a COVID-19 state of emergency and Italians were urged to stay home. U.S. equity futures pointed to a lower open on signs of a resurgence in the… Source link

Billionaire investor Michael Novogratz. Jamie McCarthy/Getty Images for Hudson River Park Bitcoin is a store of value, like “digital gold,” and will unlikely be used as traditional currency for the next five years, the former Goldman Sachs partner and hedge fund manager Mike Novogratz told Bloomberg. The Bitcoin bull expects the digital currency’s price to keep rising as more people pile into the idea of adding it to their portfolios. He expects several banks and credit-card… Source link

JP Morgan, the largest U.S. bank by assets, has this year softened its previously harsh tone on bitcoin. The bitcoin market has matured since JP Morgan chief executive Jamie Dimon called bitcoin a “fraud” in September 2017—helped by the (still highly volatile) bitcoin price finding support as an inflation hedge alongside gold this year. Now, JP Morgan has said bitcoin’s strong 2020 could be set to continue, finding the bitcoin price has “considerable” upside in the long-term as it… Source link

Bitcoin (BTC) starts a new week still at $13,000 and wholly unfazed by problems in the global economy — what’s in store next? Cointelegraph takes a look at the potential issues at stake for Bitcoin in the coming days. Banks to follow PayPal BTC adoption Last week’s announcement that payment giant PayPal would support Bitcoin and three altcoins from 2021 continues to have an impact on price action. When the news hit last week, Bitcoin abruptly surged beyond $12,500 to hit highs of… Source link

News of the discovery of approximately 40 million troy ounces of gold in Russia’s Siberian region is likely to boost the profitability of the country’s biggest gold producer, while adding to the supply of the “scarce” resource. Reports say the Polyus owned the Sukhoi Log contains 540 million tonnes of ore, which translates to an average of 2.3 grams per ton. The reserves, which will account for a quarter of… Source link

The logo of online payment company PayPal is pictured during LeWeb 2013 event in Saint-Denis near … [+] Paris on December 10, 2013. AFP PHOTO ERIC PIERMONT (Photo by Eric PIERMONT / AFP) (Photo credit should read ERIC PIERMONT/AFP via Getty Images) AFP via Getty Images OBSERVATIONS FROM THE FINTECH SNARK TANK PayPal announced that it has been granted a conditional Bitlicense by the New York State Department of Financial Services (NYDFS). The license will… Source link

Three factors likely triggered a quick decline in the price of Bitcoin (BTC) on Oct. 25. First, traders pinpoint the $13,300 to $13,500 area as a major resistance range. Second, futures and options markets are neutralizing. Third, weekend trading is seemingly amplifying volatility. The $13,300-$13,500 range is a key resistance area for Bitcoin in the short term Before the sudden price drop occurred, BTC soared from $13,127 to $13,350. The dominant cryptocurrency rallied swiftly to an area of… Source link