Tag: bitcoin (btc) news

Summary: 785,999 Bitcoin is held by private and publicly traded companies This translates to roughly $10.2 Billion using Bitcoin's current value at $13k Of this amount, 610,302 Bitcoin is held by publicly traded companies and 175,697 BTC by private companies BitcoinTreasuries.org is a website dedicated to tracking the amount of Bitcoin owned by notable companies, both private and publicly owned Ever since Square...

Summary: Institutional demand for Bitcoin is rising as CME BTC Futures are now ranked second The open interest of the CME Bitcoin futures eclipses that of Binance, Bitmex and even Bybit This is a sign of continual institutional interest in Bitcoin Outside of futures platforms, 785,999 BTC is currently held by publicly traded companies The demand for Bitcoin (BTC) has continued to spread...

Summary: The chance of Bitcoin hitting $20k or higher by the end of the year currently stands at 7% This is a 2% increment from the 5% probability witnessed back in late June Bitcoin's open interest on major exchanges such as Binance has seen a significant increment in the last 48 hours Bitcoin bull run is finally here with Paul Tudor Jones stating...

Quick take: The team at Weiss Crypto Ratings has pointed out that Bitcoin seems to be decoupling from the stock market This comes after Bitcoin broke both $12k and $13k in quick succession as the stock markets were stagnant The comments by Weiss echo those of Veteran BTC analyst, Willy Woo, who was of the same opinion back in September Bitcoin can very...

Quick take: Paypal's US customers can now buy, sell and hold Bitcoin and other cryptocurrencies PayPal's 346 Million global customers will soon have access to similar services The move was made possible through a partnership with Paxos The latter company has built the platform that will power PayPal's cryptocurrency service Mike Novogratz of Galaxy Digital has called the Paypal news 'as the biggest...

Summary: Bitcoin has comfortably broken the $12k ceiling With this move, BTC addresses in profit have hit a new all-time high of 30.4 Million It is still too early to comfortably declare that $12k is a new support zone for Bitcoin Timothy Peterson had forecasted that by November 30th, Bitcoin will be at $12k or above $12k could very well be a new...

Summary: MicroStrategy CEO, Michael Saylor, has categorized Bitcoin as an asset and not a commodity He explains that commodities are abundant and should be traded Additionally, assets such as Bitcoin are scarce and should be owned His comments were as a result of Mr. Saylor pledging to convince the CEO of Hedeye, Keith McCullough, to reconsider his decision to sell all his Bitcoin...

In summary: Bitcoin is exhibiting a good level of bullishness above $11k However, Bitcoin's correlation to stocks and gold could be a bad thing with the US elections two weeks away A drop in the stock market and/or gold could mean a similar fate for Bitcoin in the short term The end of the weekend is once again upon us and so is...

Quick take: The amount of ETH and BTC locked in DeFi currently stands at $4.78 Billion This amount represents 43% of the total value locked in DeFi The number of ETH locked in DeFi has increased by 194% in 2020 The number of BTC locked in DeFi has increased by 10,000% The hype surrounding DeFi might have cooled off in the fourth quarter...

Quick take: Data from Glassnode shows that 10,000 Bitcoin (BTC) left OKEx 48 hours before withdrawals were suspended Approximately $2.3 Billion in Bitcoin is held in OKEx BTC wallets Whale Alert bot has flagged 5,000 BTC leaving OKEx and into Binance after withdrawals were suspended The events leading up to and after the suspension of crypto withdrawals at OKEx continue to create more...

Quick take: OKEx has halted all crypto withdrawals One of the exchange's private key holders is currently with authorities regarding an investigation Crypto outflows from OKEx are at zero The current incident is a reminder to crypto users that storing funds in CEXs is risky because they don't own their private keys DeFi could benefit as a result of the OKEx incident The...

Quick take: Timothy Peterson of Cane Island Alternative Advisors has given Bitcoin a 90% chance at staying above $11k Bitcoin's lowest price forward is $11,004 using Metcalfe's law Mr. Peterson has used Metcalfe's law to correctly forecast Bitcoin's price movement since 2018 He has predicted that Bitcoin will be valued at $12k by November 30th, 2020 In an October 11th Twitter thread, Crypto...

Summary: MicroStrategy CEO, Michael Saylor, has pointed out that Bitcoin is a worthwhile investment for anyone playing the long game He pointed out that any asset can work if your investment time horizon is one year But Bitcoin works if your investment time horizon is one century In a recent tweet, the CEO of MicroStrategy, Michael Sayler, explained that Bitcoin was a long-duration...

Summary: Veteran Bitcoin analyst, Willy Woo, has stated that Square and MicroStrategy buying Bitcoin is a tip of the Iceberg He explains that the last 8 months has seen a reduction of 250,000 BTC from exchanges This reduction could be 'unannounced' investors including high net worth individuals buying up Bitcoin 'Whales like to swim together' therefore Square and MicroStrategy are not the only...

Quick take: Bloomberg has released October's crypto outlook report The report predicts that Bitcoin is on track for $100,000 in 2025 Bitcoin will continue appreciating in value as a result of increased adoption, but at a relatively lower pace when compared to its early years Bitcoin could very well retest its 2019 peak of $14k before the end of 2020 The team at...

Quick take: The number of Bitcoin addresses holding 0.1 BTC or more has hit a new all-time high of 3,148,331 Bitcoin's hash-rate has also hit a new all-time high of 170EH/s Bitcoin has exceeded 72 days above the $10k psychological price level Bitcoin's fundamentals continue to be strong and a move up to $11k is likely The number of Bitcoin addresses holding 0.1...

Quick take: Bitmex's Arthur Hayes and Samuel Reed are stepping down from their roles as CEO and CTO respectively The move comes a week after the US CFTC and DoJ charged them with illegally operating a derivatives exchange and violating the Bank Secrecy Act Vivien Khoo, Chief Operating Officer of 100x Group, will become Interim CEO Ben Radclyffe, Commercial Director at Bitmex, will...

Quick take: Willy Woo has pointed out that Bitcoin's fundamentals 'are in moon mode' On-chain data and metrics from infrastructure players hint that Bitcoin is on a path to a profitable Q4, 2020 Bitcoin's bullishness will spill over into 2021 The opportunity to get into Bitcoin now is similar to that in mid-2016 Veteran Bitcoin Analyst, Willy Woo, has shared his most recent...

In summary: The FCA has banned crypto derivatives and exchange-traded notes (ETN) for retail customers According to the FCA, the move is aimed at protecting retail investors The ban comes into effect 6th January 2021 Bitcoin and the crypto-verse were briefly rattled by the news but BTC has continued to hold the $10,660 price area Another global regulatory body has tightened its grip...

Quick take: Veteran Bitcoin Analyst, Willy Woo has explained that Bitcoin capitulation was last year at $3k Bitcoin has been in a bull market ever since The Bull market was masked by the wild swings by Bitmex traders The CFTC pursuing Bitmex might just bring in some much-needed order in the Bitcoin trading environment and possibly an ETF Veteran Bitcoin analyst, Willy Woo,...