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The sentiment around Bitcoin (BTC) has become noticeably positive after the breakout above $12,000 in August. If this momentum continuously strengthens over the medium term and BTC hits $16,500, it would equal JPMorgan’s market cap. Earlier today MMCrypto, an on-chain analysis firm, outlined major financial and tech conglomerates’ valuations relative to BTC’s potential price. At the following price points, Bitcoin would equal the market caps of the respective companies: BTC market cap… Source link

MicroStrategy’s board of directors elected to make Bitcoin (BTC) the company’s primary reserve asset. The United States Securities and Exchange Commission disclosure stated that this may lead to the future expansion of the company’s cryptocurrency holdings beyond the original purchase of 21,454 BTC, equivalent to $250 million: “Bitcoin serving as the primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for Cash Assets,… Source link

HONG KONG, HONG KONG – SEPTEMBER 13: As A photo illustration of the digital Cryptocurrency, Litecoin … [+] (LTC), Monero (XMR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Dash are seen on September 13 2018 in Hong Kong, Hong Kong. (Photo Illustration by Yu Chun Christopher Wong/S3studio/Getty Images) Getty Images When the Internal Revenue Service (IRS) signaled that it was getting serious about cryptocurrency, the agency wasn’t kidding. The IRS is… Source link

The price of Bitcoin (BTC) increased by 3% in the last 24 hours from $10,322 to $10,680. But BTC still faces a significant resistance level around $11,000 and has seen low volatility since Sep. 3. The declining open interest of the futures market and the stagnant spot market volume raise the probability of low volatility. Low volume, low open interest and major Bitcoin resistance ahead Technically, Bitcoin is in a position where it has risen above a crucial level at $10,570, which has… Source link

It’s high time for Bitcoin (BTC) to begin its next significant price rise, the creator of one of the best-known BTC price models says. In a tweet on Sep. 14, quant analyst PlanB highlighted increasing signs that BTC/USD is due to repeat historical gains. PlanB on BTC price: “Time to go up” Referring to the original incarnation of his stock-to-flow (S2F) model, PlanB said that the time was right to begin an order of magnitude step up. “This is the 2019 time series model on historical BTC… Source link

Bitcoin (BTC) starts a new week in uncertain territory as $10,000 stays in place but fundamentals shift to bullish. Cointelegraph highlights five things that could shape BTC price action in the coming days. Peak oil demand was in 2019 In what will likely become a frequently-quoted announcement, oil giant BP said this weekend that the world has hit peak demand for the black gold.  In a report quoted by Bloomberg, BP said that demand for oil would stay “broadly flat” for the next twenty… Source link

Litecoin Litecoin fell by 1.65% on Sunday. Reversing a 0.55% gain from Saturday, Litecoin ended the week up by 0.50% to $48.18. A mixed start to the day saw Litecoin rise an early morning intraday high $51.05 before hitting reverse. Litecoin broke through the first major resistance level at $49.77 and the second major resistance level at $50.57. The reversal saw Litecoin slide through the first major support level at $47.81 to a late afternoon intraday low $47.31. Finding support late in the day,… Source link

Litecoin 4 Hour Price Update Updated September 15, 2020 07:20 AM GMT (03:20 AM EST) The back and forth price flow continues for Litecoin, which started the current 4 hour candle off at 49.58 US dollars, down 0.08% ($0.04) from the previous 4 hours. On a relative basis, the previous 4 hours were pretty good: Litecoin bested all 5 of the assets in the Top Cryptos class ? Litecoin Daily Price Recap The choppiness in the recent daily price action of Litecoin continues; to start today,… Source link

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   DeFi goes boom as top tokens crash by 50% — But enjoy a sudden rebound It was an industry that looked like it was overheating for some time, and finally, at least for a short while, it appeared that the DeFi bubble had well and truly burst. Half a dozen major DeFi tokens shed half their fiat value, and the sell-offs erased the… Source link

Every week there’s usually at least one article in CoinDesk, a blurb in a newsletter and several charts in the Twittersphere about bitcoin’s correlation with something or other. This week, we were told that the 60-day correlation between gold and bitcoin (BTC) had reached all-time highs. Last week, our monthly report featured a chart of BTC’s correlation with the DXY dollar index. A few weeks before that, the correlation with the S&P 500 was in the headlines. If you feel dizzy from… Source link