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Illustration by Elias Stein Text size Bitcoin has been running with the bulls again, up… Source link

Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons. The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach. BTC/USD 4-hour chart. Source: TradingView.com Bitcoin is seeing reduced sell pressure For… Source link

PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price.  In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal. PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in… Source link

Bitcoin’s rise and popularity is overshadowing the resurgence of a rival digital asset that some believe might one day surpass its predecessor. Ether coins, which run atop the ethereum blockchain have risen by about 5.7% so far this week, compared against bitcoin’s BTCUSD, +0.29% nearly 13% run-up over the same period. However, a plodding rally for Ether ETHUSD, +0.24% has helped it to post a nearly 292% ascent,… Source link

In November 2017, after an absolutely massive, two-month rally, Bitcoin passed $10,000 for the first time. And then, over the next 20 days, it soared even higher, reaching a price of $19,665 and roughly $329 billion in market cap, according to CoinGecko.  The moment felt unreal. How did this new digital asset rise from being an obscure playground for cryptography geeks to something worth hundreds of billions? Even then, unable to categorize it as a currency or commodity, many experts… Source link

Short-sellers, who make money when the price of a targeted financial instrument declines, aren’t always popular with corporate or government leaders. Those on the receiving end of contrarian bets against stocks or currencies tend to portray them as sharks undermining people striving to build, grow and create value. This, if you’ll excuse the pun, is short-sighted.  Short-selling is a necessary part of any functioning, efficient financial system. It provides liquidity, ensuring there’s a… Source link

There are both bearish and bullish scenarios for Bitcoin in the foreseeable future. The bear cases surround two key data points: rising BTC deposits from whales to exchanges and BTC’s lack of retests of crucial support levels. The bull cases are based on HODLer activity, address activity, the market capitalization gap between BTC and gold, and the favorable technical structure of Bitcoin. Bitcoin surpassing $18,500 is critical for its near-term price cycle. There were large sell orders… Source link

Bitcoin’s price crossed the critical $18000 level recently and the weekly gain now stands at 11.44%. However, Bitcoin’s dominance is still at 66%. Since the price crossed $17000 without further resistance, the top 10 altcoins based on market capitalization have rallied. The weekly returns show gains in 9/10.  Litecoin is leading the rally with 30% weekly gains. The market capitalization has hit a 3-month high of $4,484,773,919.08. The previous 3-month high of $4,484,739,490.84 was… Source link

Bitcoin (BTC) hit new highs in excess of $18,750 on Nov. 20 as its latest extended bull run continued to delight investors. BTC price inches closer to all-time highs Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD climb swiftly after reclaiming $18,000, taking out its previous high of $18,420 to continue rising. At press time, local highs of $18,817 took Bitcoin to within $1,250 of its all-time highs from December 2017. BTC/USD 1-hour chart. Source: Tradingview The latest… Source link

Bitcoin prices surged 4% Friday to above $18,700 — inching closer to the all-time high of just under $20,000 from December 2017 — after BlackRock (BLK)‘s chief investment officer of fixed income, Rick Rieder, said in a CNBC interview that bitcoin is here to stay. “Do I think it’s a durable mechanism that could take the place of gold to a large extent? Yeah, I do, because it’s so much more functional than passing a bar of gold around,” Rieder said. The endorsement from BlackRock, which Source link