Bitcoin

Earlier this week, Bitcoin (BTC) advocate and Real Vision CEO Raoul Pal said gold is breaking down against BTC. If the dominant cryptocurrency continues to gain momentum against BTC, it could strengthen its perception as a store of value. In the past month, the price of Bitcoin gained 30.36% against the U.S. dollar, from $10,136 to $13,217. In the same period, gold has gained about 2.25%, from $1,863 to $1,903. Gold slumps against Bitcoin. Source: Raoul Pal, Bloomberg Why is Bitcoin… Source link

A senior strategist with Bloomberg Intelligence says that he does not see what’s going to stop bitcoin from appreciating. He explains that as bitcoin matures, it will trade more like gold than stocks. The strategist also shares his view on how the November presidential election could affect the price of bitcoin. Bitcoin Will Keep on Appreciating Bloomberg Intelligence’s senior commodity strategist Mike McGlone told… Source link

JPMorgan, the $316 billion investment banking giant, said the potential long-term upside for Bitcoin (BTC) is “considerable.” This new optimistic stance towards the dominant cryptocurrency comes after PayPal allowed its users to buy and sell crypto assets. JP Morgan, from “Bitcoin is a fraud and will blow up” in 2017 to “Bitcoin’s competition with gold” in 2020. We’ve come a long way. pic.twitter.com/xceabkHaVJ — Krüger (@krugermacro) October 24, 2020 The main factor put forward by… Source link

Mode, a London Stock Exchange-listed company that brands itself as a “bitcoin banking app,” has revealed it now holds around £750,000 ($980,000) worth of bitcoin after announcing plans this week to put 10% of its cash reserves into the cryptocurrency. Mode has become the first publicly-traded British company to put bitcoin on its books, making the announcement hot on the heels of Jack Dorsey-led payments company Square SQ . MORE FROM FORBESPayPal Just Gave 346 Million People A New… Source link

The Bitcoin hype machine is back in overdrive. The digital token spiked above $13,000 this week for the first time in over a year, touching off Twitter dance parties, new sky-high predictions and even some tattoo flashing. Back are proclamations that crypto is the currency of the future, that the dollar’s days are numbered and blockchain will reorder… Source link

According to Whalemap, there are three major Bitcoin (BTC) whale clusters in the near term that might serve as key technical levels. The $11,857, $12,256 and $12,868 levels would likely act as important support and resistance areas. In previous cycles, whale activity coincided with significant price movements at crucial technical levels. For instance, Cointelegraph reported that a whale sold at $12,000 after “HODLing” for years. In the next few weeks, BTC dropped to sub-$10,000. Bitcoin… Source link

Reuters / Dado Ruvic Bitcoin has “considerable” upside in the long-term as it better competes with gold as an alternative currency, JPMorgan said in a note on Friday. With millenials set to become a more important market participant over the next few decades, their favorability towards bitcoin over gold should set up the cryptocurrency for success, according to JPMorgan. But bitcoin still represents only a paltry sum of the gold market, and the cryptocurrency would have to… Source link

A chain of block erupters used for Bitcoin mining is pictured at the Plug and Play Tech Center in Sunnyvale, California, October 28, 2013. REUTERS/Stephen Lam Bitcoin’s massive leap since Wednesday may have gone too far, too fast. The world’s most popular cryptocurrency surged above $13,000 on Wednesday and continued to climb through the week after PayPal announced its users will soon be able to buy, sell, and hold bitcoin. Yet the token’s 14-day Relative Strength Index passed… Source link

Bitcoin was higher, just above $13,000 and rising for a seventh straight day – the longest winning streak in six months.  “A continuation would probably require more positive news,” Matt Blom, head of sales and trading for the publicly traded cryptocurrency firm Diginex, wrote Thursday in a note to clients. In traditional markets, European indexes rose on positive corporate earnings and strong German manufacturing data, and U.S. stock futures pointed to a higher open. Gold strengthened… Source link

The bitcoin and cryptocurrency community has been set alight by news payments giant PayPal PYPL will allow its 346 million users buy and spend bitcoin and a handful of other major cryptocurrencies. The announcement, coming from a traditional financial industry giant and perceived enemy of bitcoin, has been taken as vindication for long-time bitcoin believers. However, celebrations were somewhat stifled by small print that revealed PayPal wouldn’t let users transfer their… Source link