Bitcoin

Earlier this week Bitcoin (BTC) price entered a bullish breakout to $11,725 following the previous week’s news that Square purchased $4,709 BTC but since then the price has slumped back into a sideways range.  Several rejections near $11,500 and the recent news of OKEx halting all withdrawals as its CEO ‘cooperates’ with an investigation being carried out by Chinese authorities is also weighing on investor sentiment and Bitcoin price. Cryptocurrency daily market performance snapshot…. Source link

Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets. In February, Coinbase had 1 million bitcoin… Source link

Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept. 20 to Oct. 20. This follows a noticeable rise in institutional demand for Bitcoin (BTC) from public companies in recent months. Bitcoin delivery on Bakkt. Source: ICE, Arcane Research Bakkt, the digital asset payment platform and derivatives exchange, is tailored for institutional investors in the U.S. It is operated by Intercontinental Exchange, the parent company of the New York Stock… Source link

Bitcoin (BTC) hitting $1 million by 2025 is “about right,” Real Vision founder and CEO Raoul Pal has confirmed. In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an “enormous wall of money” would flow into the cryptocurrency over the next few years. Pal: Bitcoin in line for “enormous” capital inflows “I think that’s about right, whether it’s five years, six years,” he said when asked about the $1 million… Source link

Bitcoin has reigned as the undisputed king of cryptocurrencies since it was created a little over ten years ago. The bitcoin price has soared, with some ups and downs, over the last decade—climbing to around $11,300 per bitcoin today and giving bitcoin a total value of over $200 billion. Now, as the market for stable coins—cryptocurrencies pegged to traditional currencies or assets—has doubled in the last three months, a new report has predicted the largest stable coin, the… Source link

OKEx, one of the world’s biggest cryptocurrency exchanges, announced a temporary suspension of withdrawals on Oct. 16. Upon the news, the price of Bitcoin (BTC) abruptly plunged 3% in 30 minutes across major exchanges. The nervousness in the market comes from the reason behind the withdrawal suspension and the potential implications it carries.  The 15-minute price chart of Bitcoin. Source: TradingView.com OKEx says a private key holder is cooperating with investigators, Bitcoin swiftly… Source link

Bitcoin’s intrinsic value has been heavily discussed in the crypto community this week following a remark by the governor of the Bank of England suggesting that the cryptocurrency may have no intrinsic value. Does Bitcoin Have Intrinsic Value? Bank of England Governor Andrew Bailey talked about bitcoin’s intrinsic value during a question and answer session with members of the public early this week. “I have to be… Source link

Bitcoin (BTC) price broke upward in the first half of October, resulting in a rally from $10,500 to $11,700. However, the momentum may be shifting once more as strength diminishes across the cryptocurrency market.  A similar setup also happened prior to Bitcoin’s latest upward break with sideways consolidation in BTC causing altcoins to drop south heavily, especially the Defi sector. Rangebound and holding $11,000 But significant support at $11,000 is now a must-hold level to resume the… Source link

Bitcoin (BTC) has support to climb all the way to $15,000 if historic trends repeat themselves this year, a new report says. Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fuelling gains, which could smash $12,000 resistance. Report expects “significant break” in MVRV Bitcoin has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week. This has failed to dent optimism among… Source link

YouTubeReal Vision The price of Bitcoin will hit $1 million in five years, up from around $11,000 right now, thanks to an “enormous wall of money,” a former Goldman Sachs hedge fund chief said in a recent interview. Raoul Pal, who has allocated more than 50% of his capital to Bitcoin, said a wave of institutional funds will adopt the digital currency, as they realize the economy will take a long time to recover from COVID-19. “It’s an enormous wall of money,” he said. “Just… Source link