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Bitcoin news – live: BTC price steadies after El Salvador adoption hit by dramatic crash – Yahoo Finance UK

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Bitcoin slid in price from above $52,000 to below $44,000 on Tuesday following issues with the adoption of the cryptocurrency as legal tender in El Salvador, but has recovered slightly on Wednesday.
Bitcoin’s nosedive has also had an impact on other cryptocurrencies, including Ethereum (ether), Cardano (ada), and dogecoin.
Currently the global crypto market is worth $2.03 trillion, which is about 11 per cent lower than its value a day earlier.
According to a model-based prediction by pseudonymous Dutch analyst PlanB, bitcoin may reach a value of $100k+ before the end of 2021.
British banking giant Standard Chartered also noted in a recent report that Bitcoin’s value would peak around late 2021 or early 2022 to above $100k.
Other forecasts say current trends could result in lows below $20k for the cryptocurrency by the end of the year.
You can follow all the latest news, updates and expert predictions right here.
Read More
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Bitcoin price suddenly collapses, wiping billions off people’s investments
El Salvador could be hit by a ‘crypto crash’ after it adopts bitcoin – and would be powerless to do anything
Bitcoin price crash causes Coinbase to go down
El Salvador president ‘buying the dip'
Bitcoin price volatility dismissed by long-term holders
15:07 , Anthony Cuthbertson
The price of bitcoin finally appears to have steadied after yesterday’s sudden crash.
It remains around $46,000 – roughly $8,000 down from yesterday’s peak but more the $2,000 up from the price it bottomed out at.
It seems to have had a calming affect on the rest of the market, with Ethereum (ether), Cardano (ada) and Binance Coin all levelling out over the last few hours.
There have been a few altcoins that actually bucked the trend, most notably Near Protocol (NEAR). The token saw gains of more than 40 per cent over the last 24 hours, ranking it in the top 30 most valuable cryptocurrencies on CoinMarketCap.
14:07 , Anthony Cuthbertson
The SEC has warned Coinbase that it is planning to sue the exchange over its planned ‘Lend’ feature, which will allow users to earn interest from their holdings.
The regulator served a Wells notice to signal its intention to take legal action, though Coinbase’s chief legal officer Paul Grewal claims to not know what the issue is.
“Rather they have now told us that if we launch Lend they intend to sue. We asked if the SEC would share their reasoning with us… they refused,” he wrote in a blog post.
“Mystery and ambiguity only serve to unnecessarily stifle new products that customers want and that Coinbase and others can safely deliver.”
You can read the full story here.
Coinbase faces SEC lawsuit over ‘mystery’ issues with crypto lending
13:35 , Anthony Cuthbertson
Long-term holders of bitcoin have urged investors to remain patient following the latest price crash.
Michael Saylor, whose software company MicroStrategy owns more than 100,000 bitcoins, believes bitcoin will continue to rise in price over the long term and has the potential to rise in value by more than 100-times. He also revealed he personally bought $30 worth of the cryptocurrency yesterday in support of El Savador’s Bitcoin Law coming into effect.
Today he tweeted: “If you aren’t willing to own bitcoin for 10 years, don’t even think about owning it for 10 minutes.”
If you aren’t willing to own #bitcoin for 10 years, don’t even think about owning it for 10 minutes.
— Michael Saylor⚡️ (@michael_saylor) September 8, 2021
Who cares what #Bitcoin does in an hour? Show me what it's done in the last year. 4 years. 12 years. Bye.
— Natalie Brunell (@natbrunell) September 7, 2021
12:20 , Vishwam Sankaran
Bitcoin’s value is still down by about 9 per cent compared to its price 24 hours earlier.
Almost all cryptocurrencies are down compared to yesterday’s prices, and it’s still all red with very little signs of recovery.
Global crypto market prices are almost down by 10 per cent compared to values 24 hours earlier.
08:09 , Andrew Griffin
Bad news for anyone hoping for a swift return after yesterday’s crash: there’s been no recovery yet. Though hasn’t fallen lower than it did in the wild moments after the crash, either. Here’s the latest from Coinbase:
That has left everything looking very red. Prices are down almost 15 per cent over the last 24 hours, according to CoinMarketCap. And nothing – not even the much-hyped Solana – has been left untouched.
Tuesday 7 September 2021 17:59 , Anthony Cuthbertson
The price crash has distracted from the big news of the day, which is the roll out of bitcoin as a legal form of currency in El Salvador.
People in the country have been sharing their experiences across social media, with global franchises like McDonald’s and Starbucks now forced to accept the cryptocurrency as a form of payment.
“This is to all the critics who said bitcoin would never be used to buy coffee,” tweeted Mario Aguiluz. “Just paid for mine at Starbucks in El Salvador.”
It seems issues with the Chivo bitcoin wallet have now been resolved.
Just walked into a McDonald's in San Salvador to see if I could pay for my breakfast with bitcoin, tbh fully expecting to be told no.

But low and behold, they printed a ticket with QR that took me to a webpage with Lightning invoice, and now I'm enjoying my desayuno traditional! pic.twitter.com/NYCkMNbv7U
— Aaron van Wirdum (@AaronvanW) September 7, 2021
This is to all the critics who said #Bitcoin would never be used to buy coffee. Just payed for mine at Starbucks in #ElSalvador. I just hope this doesn’t become the new 10,000 BTC pizza… pic.twitter.com/JXXGJbKKOG
— Mario Aguiluz (@maguiluz301) September 7, 2021
Tuesday 7 September 2021 17:30 , Anthony Cuthbertson
El Salvador President Nayib Bukele has added to the country’s crypto holdings by purchasing a further 150 bitcoins during this afternoon’s crash.
“Buying the dip,” he tweeted.
El Salvador bought its first 200 bitcoins yesterday ahead of the Bitcoin Law coming into effect today, plus a further 100 a few hours later. That brings El Salvador’s total holdings to 550 bitcoin, worth roughly $25 million at the current exchange rate.
President Bukele added that the “discount” from the price crash saved the country roughly $1 million.
Buying the dip 😉

150 new coins added.#BitcoinDay #BTC🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) September 7, 2021
Tuesday 7 September 2021 16:46 , Anthony Cuthbertson
Bitcoin’s price crash has caused issues with leading cryptocurrency exchange Coinbase, as users go online to either cash out their crypto holdings or buy the dip.
The company said it was “aware transactions are currently delayed or cancelled at elevated rates and our apps may be experiencing errors.”
It is not the first time Coinbase, which went public earlier this year, has suffered problems during periods of extreme market volatility.
You can read the story here.
Tuesday 7 September 2021 16:27 , Anthony Cuthbertson
Crypto experts are rushing to explain the latest bitcoin price crash, with some fearing it could get worse before it recovers.
Prominent analyst and cryptocurrency author Glen Goodman describes it as “horrible horrible chart damage” That could be “the start of something much worse”, while pseudonymous investor CryptoWhale – who has frequently questioned the recent bull run – took the opportunity to mock people hoping bitcoin’s price could sky rocket “to the Moon” in 2021.
Having reached all the way below $44,000, bitcoin is now back above $46,000. The next few hours could prove key for the future trajectory of the market.
Horrible horrible chart damage being done in $BTC and the rest of the #crypto market. #Bitcoin just bounced cleanly off the previous resistance line. Is this a retest of that line or the start of something much worse? I hope everyone has set stops…. pic.twitter.com/EUGaSj3Y3d
— Glen Goodman (@glengoodman) September 7, 2021
#Bitcoin has now lost over 20% of its value.

The moon boys are dead silent right now. pic.twitter.com/xICpsLlXe4
— Mr. Whale (@CryptoWhale) September 7, 2021
Tuesday 7 September 2021 16:01 , Anthony Cuthbertson
The price of bitcoin has suffered the second sudden flash crash in the space of just a few hours, falling from above $52,500 to below $48,000.
The reason for the falling price is not immediately clear but may be linked to the previously mentioned issues with the roll out of bitcoin as a form of legal tender in El Salvador.
A price pump to support the momentous occasion has also been planned, with leading bitcoin figures calling on people to buy $30 worth of the cryptocurrency on 7 September in support and celebration of the Bitcoin Law coming into effect. Those who took part may now be looking to take any profits they gained from the slight price rise that ensued.
We’re reaching out for some expert analysis and will bring more updates when they come.
Tuesday 7 September 2021 15:53 , Anthony Cuthbertson
It’s not all going smoothly in El Salvador with the official introduction of bitcoin as a form of legal tender.
President Nayib Bukele announced that the Chivo wallet app has been temporarily disabled due to network capacity issues.
“For a few moments Chivo wallet won’t work, we have disconnected it while increasing the capacity of the servers,” he tweeted in Spanish. “The installation problems that some people had were for that reason. We prefer to correct it before reconnecting.”
Por unos momentos no funcionará @chivowallet, la hemos desconectado mientras aumentamos la capacidad de los servidores de captación de imágenes.

Los problemas de instalación que tuvieron algunas personas fueron por esa razón.

Preferimos corregirlo antes de volver a conectarla.
— Nayib Bukele 🇸🇻 (@nayibbukele) September 7, 2021
You can read more about it here.
Tuesday 7 September 2021 15:12 , Anthony Cuthbertson
It may be Bitcoin Day but the so-called “Alt-Coin Season” is showing no sign of ending.
Solana is the latest crypto to hit a new all-time high, reaching close to $200 on Tuesday – up from around $3 this time last year.
The price surge has taken it above dogecoin to rank as the seventh most valuable cryptocurrency listed on CoinMarketCap.
You can read the full story here.
Solana price overtakes dogecoin in record-breaking suge
Tuesday 7 September 2021 11:27 , Anthony Cuthbertson
With Bitcoin Day finally here, some analysts are predicting a “bitcoin earthquake” as people participate in the call from industry figures to buy $30 of the cryptocurrency in support and celebration of El Salvador adopting it as legal tender.
“There is also increased chatter about a supposedly planned ‘Bitcoin day’ or ‘Bitcoin earthquake’ due to happen on Tuesday the 7th as El Salvador adopts the digital currency as legal tender,” says Daniela Hathorn, an analyst from foreign exchange site DailyFX.
“So far the online forums are suggesting a worldwide increase of $30 in every holder’s BTC stake in what is being considered as a move of solidarity with Salvadorans, which seems slightly confusing as to how it would help. But anyway, leaving the technicalities aside this may be a ‘buy the rumour, sell the fact’ situation.”
Tuesday 7 September 2021 08:47 , Anthony Cuthbertson
Today marks one of the momentous days in bitcoin’s 12-year history, as El Salvador becomes the first country in the world to adopt the cryptocurrency as legal tender.
President Nayib Bukele announced that El Salvador bought its first 200 bitcoins ahead of the new Bitcoin Law coming into effect today, saying the country’s brokers would be buying “a lot more” as the deadline approaches.
In an effort to encourage nationwide adoption, every citizen is also being offered $30 worth of the cryptocurrency if they download the government’s digital wallet app Chivo.
El Salvador has just bought it’s first 200 coins.

Our brokers will be buying a lot more as the deadline approaches.#BitcoinDay #BTC🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) September 6, 2021
Monday 6 September 2021 15:52 , Anthony Cuthbertson
Prominent bitcoiners are preparing for a major price pump to celebrate El Salvador adopting the cryptocurrency as legal tender.
CoinCorner CEO Danny Scott and MicroStrategy boss Michael Saylor are among those encouraging people to buy $30 of bitcoin on 7 September – the same amount that citizens are being offered through the Chivo wallet app to encourage mass adoption.
Reddit’s /r/Bitcoin forum also has several posts supporting the price pump, while other bitcoin fans are using Twitter to promote the “mass buying” event.
Massive bitcoin price pump planned to celebrate El Salvador adopting crypto
Monday 6 September 2021 13:29 , Anthony Cuthbertson
Bitcoin’s 200 week moving average has just hit a new all-time high, reaching above $15,100.
The latest high, spotted by pseudonymous Dutch analyst PlanB, follows a trend that has seen the price of bitcoin grow over the long term.
“Nobody who bought bitcoin and [held] for four-plus years lost money,” PlanB said last week. “Ever.”
The 200WMA was below $100 in 2014 and only crossed $1,000 in 2017. If another major bull run occurs, as PlanB predicts, the moving average would be on track to pass $100,000 within the next five years.
🚀New all time high (ATH) for #bitcoin 200 week moving average AND realized cap (average transaction price of all 18.8M BTC) pic.twitter.com/L8ECcbBJTd
— PlanB (@100trillionUSD) September 6, 2021
Monday 6 September 2021 12:19 , Anthony Cuthbertson
While a lot of the recent focus on bitcoin has been centred on its price, there have been some positive news stories focussing on the cryptocurrency’s technology and how it can prove life-changing for those cut off by traditional financial services.
A first-hand account by an individual on the ground in Afghanistan has offered a glimpse into how bitcoin can benefit those living under Taliban rule.
“Just like our personal freedom, our economic freedom is quickly disappearing, as many anticipate we’re on the brink of an all-out economic collapse,” the person writes anonymously in the article for The Tokenist.
“Fortunately, developments around technology have provided us with an alternative. Digital assets, while no guarantee of freedom, can assist in obtaining some level of freedom.
“They can be beneficial in bypassing oppressive power structures by offering users 24/7 access to funds in a permissionless manner. With legacy finance in Afghanistan on the brink of collapse, a vacuum for another system is already felt. Surely, crypto can’t fix Afghanistan, but it suggests an alternative financial system for every Afghan man and woman who has been cut off from the world.”
Monday 6 September 2021 10:48 , Anthony Cuthbertson
A fresh bitcoin price rally overnight has taken the cryptocurrency to its highest point since May.
With El Salvador set to officially recognise the crypto as a form of currency tomorrow, there are hopes that a price pump from btc advocates could help it rise even further. Notable figures within the industry have called on people to buy $30 of bitcoin to celebrate the legislation coming into effect on 7 September.
Taking a longer-term view, bitcoin is up by more than five-times since this time last year.
Monday 6 September 2021 10:31 , Anthony Cuthbertson
To The Independent’s live coverage of the crypto market. We’ll have all the latest news, analysis and expert price predictions for bitcoin, Ethereum (ether) and other leading cryptocurrencies.
The Manchester United boss saw his team well beaten by rivals City.
Police were called to the scene after Ithiel Horton grew upset with a tow-truck driver.
A small bird warily accepted the invitation of a woman to come and feed from her palm in Eagle River, Wisconsin, even pecking at her finger as it decided what type of seed it fancied.Vicki White extended her hand to the nuthatch, the name by which the species is known, and was able to capture the moment the bird landed on her hand.“Birds typically fly in, get a seed, and take off and nuthatches are generally more hesitant to take seeds from one’s hand,” White told Storyful.“I thought it was interesting that this guy hung around and was particularly picky about what he was looking for.” Credit: Vicki White via Storyful
Mounting concern over environmental cost of fake snow for Olympics. Beijing Games will require almost 49 million gallons of water to create conditions for Alpine events
BOSTON, November 06, 2021–Save on electric hoverboard deals at the early Black Friday sale, including the latest Gotrax & Segway offers
The batter scored a career-best 94 not out and Aiden Markram hit an unbeaten 52 from 25 deliveries.
BOSTON, November 06, 2021–Here’s our round-up of the best early Dell XPS 13, 15 & 17 deals for Black Friday 2021, together with the best savings on 2-in-1 convertible and standard XPS laptops. Browse the best deals in the list below.
Follow all the reaction from Old Trafford after the Premier League champions took all three points in the derby
Follow all the latest updates from Twickenham as Eddie Jones’ side begin their autumn campaign
Manchester City outclassed their rivals for an easy win
Massive crowds turned out for a climate justice march in Glasgow, Scotland, on November 6’s Global Day for Climate Justice, midway through the COP26 summit.Protesters from almost every continent rallied to demand global climate change action and justice, the COP26 coalition reported.Video filmed by William Watson in Glasgow shows large groups of people gathered in Kelvingrove Lawn Bowls, with many holding climate change-themed banners and signs. Credit: William Watson via Storyful
Raducanu is the top seed for the Upper Austria Ladies Linz tournament.
Thousands of people flooded the hometown of late Brazilian country music star Marilia Mendonca Saturday to pay an emotional tribute to the beloved singer, a day after she was killed in a plane crash at age 26.
There will be a full house at Twickenham for the first time since the coronavirus pandemic began as England start their autumn international campaign against Tonga this afternoon. Eddie Jones’ side are beginning the build towards the next World Cup in France in two years’ time and will be confident of putting on a show for the returning masses against a Tonga side who were hammered by Scotland last weekend.
BOSTON, November 06, 2021–Early Black Friday pellet & electric smoker deals have landed
Marches have taken place in Glasgow, where the Cop26 climate talks are being held, and in hundreds of other places in the UK and around the world.
Demonstrators call for swift action after dozens of governments sign up to agriculture and land use promises at Cop26
Seventeen people, some as young as 10, taken to hospital after being caught up in crush
The move is meant to ‘accelerate’ the booster programme by making it easier for people to book their booster jab
Former PM brands mooted UK policy ‘absurd’

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Polygon Reveals Details About Its Future Collaboration With LBank During AMA – Press release Bitcoin News – Bitcoin News

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PRESS RELEASE. Recently, LBank Exchange held an AMA session with the Polygon team, discussing Polygon’s achievements, collaborations, NFT and Gaming markets, Nightfall solution, future plans and so on. Here’s the summary of this AMA.
Ethereum is the blockchain development platform of choice, but it has limitations such as low throughput, poor UX, and no sovereignty. As a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, Polygon breaks through these limitations by aggregating scalable solutions on Ethereum and supporting a multi-chain Ethereum ecosystem.
Polygon Outperforms Ethereum In-terms Of Active Users
As a layer 2 solutions aggregator built on top of Ethereum, Polygon has made some great achievements since its birth, its POS chain has over 2000 DApps live and processes over 7 million transactions daily. In fact, Polygon now has more daily active users than Ethereum.
MATIC, the token for the polygon network, is already live on trading platforms like LBank Exchange, and currently the trading volume of it is over 1 billion across exchanges. Polygon team is aiming to make more people hold MATIC tokens, and it’s hoping to see MATIC’s trading volume on LBank Exchange continue to grow as well.
Expanding the Polygon ecosystem
With the power to bring thousands of new users into blockchain, NFT and Gaming markets are strategic sectors that Polygon continues to focus on. There are already some of the largest gaming projects live on Polygon, such as Decentral Games, Sandbox, Somnium Space, Vulcan Verse, etc. As for NFT projects, there are OpenSea, Lazy.com, Autograph, etc.
The team will be bringing many more such games and NFT projects onto Polygon so that its community can enjoy more artwork and fun. In addition, Polygon allows for massive scalability, and compared to Ethereum, minting costs on Polygon are 100,000 times cheaper on average.
Polygon also has products designed for enterprise customers who need privacy and scalability, such as Nightfall, a one-of-a-kind, privacy-focused Rollup that combines Optimistic Rollups with Zero-Knowledge (ZK) cryptography commonly used in ZK Rollups. It creates a scalable and private hybrid of the two popular technologies.
Polygon Nightfall has the power to bring many large enterprises into blockchain, the team believes that it will lead to a large number of transactions on Polygon and further add new projects and users to the Polygon ecosystem.
Big Plans Ahead
The Polygon team has already got some big plans ahead. On the technical side, Polygon is investing heavily into ZK and ZK Rollup technology, for example, the team has already spent $250 million on acquiring Hermez, which is a decentralized, open-source ZK Rollup optimized for secure, low-cost and usable token transfers on the wings of Ethereum.
Polygon has also acquired another 4 teams to build more ZK Rollup chains, to achieve the goal of building highly scalable EVM enabled ZK Rollup technology. In addition, Polygon has updates coming for its POS chain and details on EIP 1559 implementation.
On the business side, Polygon has many exciting updates as well, with lots of big DApps and integrations planned. Significantly, Arjun, Polygon’s Head of Growth, points out that LBank is enhancing its global branding. He also assures that the love of the community makes the team achieve its goals, so it will continue to collaborate with LBank Exchange to bring more Polygon projects and tokens to the community. Polygon team will keep posting on its official social media accounts such as Twitter to reveal more details about future plans and latest updates.
 
About Polygon
Polygon is a layer 2 aggregating scalable solution on Ethereum that supports a multi-chain Ethereum ecosystem. The platform resolves the blockchain challenges like high gas fees, slow speed without sacrificing security. It is a protocol and framework to build and connect Ethereum-compatible blockchains.
Visit to Know more:
Website: https://polygon.technology/
Twitter: https://twitter.com/0xPolygon
Telegram: https://t.me/polygonofficial
Discord: https://discord.com/invite/polygon
 
About LBank
LBank is an ever-growing crypto trading platform which offers safe trading for the users worldwide. The team aspires to build the professional integration services for crypto-assets being a convenient trading platform. It has become popular with over 6.4 million users around the world.
Visit to Know More:
Website: https://www.lbank.info/
Twitter: https://twitter.com/LBank_Exchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Facebook: https://www.facebook.com/LBank.info/
 
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges
Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto … read more.
Check all the news here
Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges
Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto … read more.
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‘Trillions Of Dollars’—Bitcoin Braced For A Massive Earthquake As The Price Of Ethereum, Binance’s BNB, Solana, Cardano And XRP Soar – Forbes

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Bitcoin and cryptocurrency prices have rocketed over the last month, with the combined crypto market surging towards $3 trillion as ethereum, Binance’s BNB, solana, cardano and XRP make double-digit percentage gains.
Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains
The bitcoin price has climbed from around $45,000 per bitcoin in early October to all-time highs of $67,000 late last month, in part due to the launch of the first U.S. bitcoin futures exchange-traded funds (ETFs). Bitcoin has recently dropped back—despite huge new price targets even as ethereum and its smaller rivals hit fresh highs.
Now, Michael Saylor, a bullish bitcoin buyer, has predicted “trillions of dollars” will flow into bitcoin once the U.S. regulator approves a fully-fledged bitcoin ETF—helping bitcoin to replace gold and become the primary asset index for the Western world.
Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday
The bitcoin price has surged through 2021 but much of the crypto market’s gains have come from … [+] ethereum, Binance’s BNB, cardano, solana, and XRP.
“To do that, you need the spot ETF,” said Saylor, the chief executive of business intelligence software company MicroStrategy, speaking this week at Bloomberg‘s Financial Innovation Summit. “And once these spot ETFs roll, I think you’ll see billions, then tens of billions, then hundreds of billions, then trillions of dollars flow into them.”
Over the last year, Saylor has pivoted Microstrategy to a bitcoin acquisition vehicle, buying more than 110,000 bitcoins. The value of the company’s bitcoin holdings is around $7 billion, making up almost all of MicroStrategy’s $8 billion market capitalization.
Saylor said he expects a U.S.-based spot bitcoin ETF would act as an institutional on-ramp for investors who want bitcoin exposure, adding he’ll continue buying bitcoin via MicroStrategy. Such funds are already live in other countries, including Canada.
The launch of two U.S. bitcoin futures ETFs in October generated huge media attention, with the ProShares Bitcoin Strategy ETF accumulating more than $1 billion in assets in mere days. However, some, including general partner at Castle Island Ventures Nic Carter, have called futures-based ETFs “inferior” as they don’t give direct exposure to the underlying asset. Carter, speaking alongside Saylor, said a spot bitcoin ETF would be “the hottest commodity ETF launch of all time.”
“The right answer is: let investors buy a trillion dollars worth of bitcoin via an ETF because the ETFs plug into the existing security structure, the existing prime brokerages, the existing collateral packages,” said Saylor.
CryptoCodex—A free, daily newsletter for the crypto-curious
The bitcoin price has risen more than 300% over the last 12 months, making bitcoin a $1 trillion … [+] asset. However, bitcoin has been left in the dust by ethereum, Binance’s BNB, solana, cardano, and XRP.
Meanwhile, bullish bitcoin and crypto market watchers continue to predict prices will surge into the end of 2021. While bitcoin has lost ground this week, ethereum has added almost 5%, with its too biggest rivals, Binance’s BNB and solana, both surging by around 20%.
“Intraday volatility is completely normal after such a bullish month, but the higher time frame is looking solid for now,” Lukas Enzersdorfer-Konrad, chief product officer at Vienna-based bitcoin and crypto trading platform Bitpanda, said in emailed comments. “The crypto market is more integrated into the world economy every day which only shows how important it is for bigger institutions but on the other hand, is also under pressure from macro events.”
“A melt-up in bitcoin and ethereum into year-end is likelier than retracement, we believe, after 2021 corrections cleansed speculative positions, and with increasing demand and adoption, and declining supply, sustaining a bull market,” Bloomberg Intelligence senior commodity strategist Mike McGlone wrote in his latest market report, pointing to a “tidal wave of U.S. ETFs.”
“The startup of U.S. ETFs and the fact that cryptos counter China bans limit downside risks.”

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XRP Set for Massive Breakout With Altcoins Poised to Steal the Show From Bitcoin, Predicts Top Crypto Analyst – The Daily Hodl

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One closely followed crypto analyst is bullish on XRP and thinks that altcoins are in a prime position to outpace Bitcoin (BTC).
The pseudonymous analyst known as Credible Crypto tells his 257,400 Twitter followers that XRP’s price structure looks very similar to data-sharing protocol OriginTrail, whose native token TRAC just rallied more than 300% following its recent listing on Coinbase Pro.
He expects XRP to follow a similar path to TRAC, taking the cryptocurrency back to its previous all-time high of $3.40.
“The XRP chart below is from my last YouTube video on XRP made in August. The chart next to it is another coin that I came across today that has the same structure but is one step ahead with the 5th wave already in progress. Do you see it now?”
After Ethereum’s new breakout against Bitcoin (ETH/BTC), the trader anticipates ETH’s next leg up to kick off a new alt season.
He also notes that Bitcoin dominance has likely already topped out, further paving the way for an altcoin rally.
“ETH/BTC broke out today, closing above the key resistance zone I was watching. This is a great sign and indicates BTC dominance may have already found its top and alts may be about to steal the show, led by ETH.”
The analyst says that Bitcoin dominance dropping doesn’t necessarily mean that BTC’s price will drop.
No it just means that if BTC is rising alts will probably rise faster. We saw this in 2017 in the latter stages of the bull run as lots of new money started pouring in.
— CrediBULL Crypto (@CredibleCrypto) November 3, 2021

Taking a closer look at the top crypto asset, Credible says that Bitcoin is close to deciding whether it wants to break to the upside or continue ranging.
According to his analysis, a rejection of $63,000-$64,000 could take BTC back to major support around $58.000.
“63-64k tagged BTC. Now to see if we break out to new ATH [all-time high] or reject soon and continue to range.”
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