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Bitcoin price – live: BTC surges to new five-month high, as Elon Musk spurs on dogecoin – Yahoo News

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The price of bitcoin has risen to a new five-month high on Thursday, building on massive gains made since the start of October.
The rally was spurred on by positive news in the crypto space, pushing BTC up by more than a third since the start of the month.
Other leading cryptocurrencies have also seen significant price rises, with Ethereum (ether), Binance Coin, Cardano (ada) and Ripple (XRP) all increasing in value by between 4-6 per cent over the last 24 hours.
Dogecoin also shot up by nearly 10 per cent after Elon Musk once again tweeted his support for it. These price increases have pushed the overall crypto market cap above $2.37 trillion, overtaking the world’s most valuable company.
The recent surge has reinforced the beliefs of some crypto analysts, who predicted earlier this year that new record highs would be seen before the end of 2021.
We’ll have all the latest news, analysis and expert price predictions right here.
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15:04 , Anthony Cuthbertson
Elon Musk has once again sent the price of dogecoin soaring after trading tweets with the cryptocurrency’s founder, Billy Markus.
The meme-inspired crypto shot up nearly 10 per cent after Musk replied with the ‘100’ emoji after Markus tweeted, “if you don’t run a dogecoin node, you are satan”.
The centibillionaire also posted a crying face emoji to a meme posted by Markus, inspired by hit Netflix show Squid Game.
🤣
— Elon Musk (@elonmusk) October 14, 2021
As the richest person in the world, Musk revealed earlier this year that beyond Tesla stock and his share of ownership in SpaceX, cryptocurrency is the only thing of significant value that he owns.
The only ones he has admitted to personally owning are bitcoin, Ethereum (ether) and, you guessed it, dogecoin.
13:28 , Anthony Cuthbertson
After overtaking the market value of Apple today, we put this chart together to see how the cryptocurrency market stacks up against the top 10 leading assets.
Accounting for nearly half of the global crypto market cap, bitcoin ranks above Facebook, Tesla and Berkshire Hathaway in the top 10.
No included on this chart are precious metals, but if they were gold would be way out in front with a market cap of more than $11 trillion. Silver would also rank 7th on the list, just ahead of bitcoin with a market cap of $1.31 trillion.
12:01 , Anthony Cuthbertson
The cryptocurrency market is now worth more than the world’s most valuable company.
Bitcoin’s price surge, combined with gains from Ethereum (ether), Cardano (ada) and Ripple (XRP) over the last few hours has pushed the overall crypto market cap up by 5 per cent.
This puts it at $2.37 trillion – roughly $40 billion more than Apple.
Bitcoin alone is now closing in on the market cap of silver, with analysts making comparisons to the astonishing price increase that it experienced in 2013.
You can read the full story here.
Bitcoin price rally sees crypto market overtake world’s most valuable company
08:51 , Anthony Cuthbertson
Bitcoin is once again on the ascendency, hitting a fresh five-month high on Thursday morning after a brief moment of price consolidation in the middle of the week.
The overall crypto market has also shot up, with an increase in value of around 5 per cent since this time yesterday. That equates to more than $100 billion.
We’ve heard from the UK head of the Luno cryptocurrency exchange this morning, who offers his thoughts on why bitcoin and other leading cryptocurrencies are surging.
The rising expectations for a bitcoin ETF shown by rising open interest, and growing basis premiums for CME’s futures may be a cause of the bullish momentum. CME’s share of the global open interest in the bitcoin futures also reached 17 per cent this week – the highest level recorded since February 2021 suggesting institutional traders have returned to bitcoin.
Sam Kopelman, Luno
Wednesday 13 October 2021 11:24 , Anthony Cuthbertson
The price of bitcoin has now slipped below $55,000, though other leading cryptocurrencies are seeing a major resurgence.
Binance Coin is now up more than 16 per cent since this time yesterday, while Polkadot and Uniswap are both up by more than 7 per cent.
The latest gains have pushed Binance Coin’s price above $450 – less than $200 away from its all-time high – and means its market cap is now close to $80 billion.
The reason for the price surge appears to be the introduction of a $1 billion fund that Binance claims will be “the biggest growth fund in the history or crypto”.
Wednesday 13 October 2021 09:51 , Anthony Cuthbertson
For the first time ever, the US has overtaken China to become the top destination for bitcoin miners.
New data from the Cambridge Centre for Alternative Finance shows that one third of bitcoin’s hashrate is now in the US, following a 428 per cent increase since September 2020.
The shift comes after China’s massive crackdown on mining operations in the country, which wiped out roughly half of all bitcoin miners.
Cheap energy and vast renewable power sources has made the US an attractive destination for miners, though it still doesn’t command the same dominance in the sector as China once did. Analysts see the spreading out of market share as a major positive for bitcoin and should ultimately reduce big price fluctuations as no single country can have a significant impact on the sector through introducing new legislation.
Wednesday 13 October 2021 07:15 , Anthony Cuthbertson
Two of the most high-profile bitcoin advocates have offered their advice on cryptocurrency trading.
MicroStrategy CEO Michael Saylor, who has ploughed billions of the company’s cash reserves into bitcoin, and Binance CEO Changpeng Zhao (CZ) have both said they do not look at short-term price swings.
Instead, CZ advises to “focus on the long term”, while Saylor says “the best strategy is to buy bitcoin and wait”. It seems to have worked for him so far, with MicroStrategy more than doubling the $3.16 billion that it has invested into bitcoin.
Trading #Bitcoin is like trading Apple, Amazon, Google, or Facebook a decade ago. The more you obsess over timing the market, the more mistakes you make. They were all technology networks that were dominant & destined to grow. The best strategy is to buy bitcoin and wait. https://t.co/D3XiQ2B71R
— Michael Saylor⚡️ (@saylor) October 12, 2021
Wednesday 13 October 2021 06:55 , Anthony Cuthbertson
Bitcoin’s steady price gains since the start of the week appear to be on hold, as it remains below $56,000 on Wednesday morning.
Making up for the lack of movement are several leading cryptocurrencies that have surged in price overnight.
Binance Coin is up 8 per cent, while Solana and Polkadot are both up by around 3 per cent. Bitcoin’s slight dip in price, combined with these altcoin gains, mean the overall crypto market has moved by less than a third of a per cent since this time yesterday.
Tuesday 12 October 2021 19:11 , Anthony Cuthbertson
The price of bitcoin has dipped slightly over the last few hours, falling from above $57,000 to below $56,000.
Despite the losses, BTC remains up by more than 10 per cent week-on-week, and remains within a relatively tight trading window that has proved remarkably stable since the sudden surge at the start of October. Bitcoin’s market cap also remains above $1 trillion, though the overall crypto market cap has fallen by just over 2 per cent to $2.29 trillion over the last 24 hours.
Here’s how the price chart looks for the last seven days, courtesy of CoinMarketCap.
Tuesday 12 October 2021 13:27 , Anthony Cuthbertson
After bitcoin hit an all-time high of just above $64,000 in mid April, the cryptocurrency suffered one of the most devastating price crashes in its history that took it below $30,000.
One of the leading causes was China’s crackdown on cryptocurrency, which forced miners – which made up more than 70 per cent of the network – to close operations and move out of the country. But while this had a negative impact on bitcoin’s price in the short term, some crypto experts believe it will actually be beneficial in the long run.
“Periodic ‘shock-tests’ seem to only make bitcoin grow stronger,” Paolo Ardoino, chief technology officer of the exchange Bitfinex, tells The Independent.
“The hashrate is recovering to reach a near all-time high in the wake of the China ban… We see the king of crypto is once again showing its resilience. In the case of any ban or restrictions on bitcoin, there will always be someone left to fill the void. We expect to see others step up as China’s power diminishes. This is a true testament to the far reach and resilience of the industry.”
Tuesday 12 October 2021 11:27 , Anthony Cuthbertson
Following El Salvador’s pioneering Bitcoin Law, which made the cryptocurrency legal tender in the Central American country last month, there has been a lot of speculation over which countries might follow suit.
A bold new prediction has just come from Alex Hoeptner, the CEO of cryptocurrency exchange Bitmex, who believes that at least five countries will adopt bitcoin by the end of next year.
Hoeptner says “all of them will be developing countries,” citing remittance fees, inflation and politics as the three main factors driving the adoption.
“Over the next year, and as El Salvador works out the kinks in its rollout, savvy politicians will be thinking of how they can take a similar path, and how it might benefit both them and their constituents,” he said. “What El Salvador did is take the first leap of faith, making similar moves by other countries much easier to consider.”
Tuesday 12 October 2021 09:57 , Anthony Cuthbertson
JPMorgan CEO Jamie Dimon has said he believes bitcoin is “worthless”, while also revealing that his clients disagree.
He said that JPMorgan will provide customers “as-clean-as-possible access” to bitcoin, saying that his personal opinion on the world’s most valuable cryptocurrency is irrelevant when there is such strong demand for it.
It is not the first time the controversial CEO has spoken out against bitcoin, though his latest comments have revealed a fundamental misunderstanding about the cryptocurrency. He questioned whether bitcoin’s fixed supply – no more than 21 million coins will ever exist – will magically increase in the future, asking: “How do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don’t know, I’ve always been a skeptic of stuff like that?”
If he bothered to “read the algorithms” himself, he would realise that it is just five lines of code that limit bitcoin’s supply.
Five lines of code that results in 21m #Bitcoin pic.twitter.com/Isx8CTYMe0
— Bitcoin (@Bitcoin) October 12, 2021
Tuesday 12 October 2021 09:31 , Anthony Cuthbertson
Widely reported speculation that the US Securities and Exchange Commission (SEC) is interested in four separate bitcoin exchange-traded funds (ETF) is being cited as one of the driving factors behind the cryptocurrency’s astonishing price rise since the start of October.
We’ve heard from Konstantin Anissimov, executive director of the crypto exchange CEX.IO, who says the rumours are just one of several factors pushing bitcoin’s price higher.
Here’s what he had to say:
There are a few reasons why bitcoin is currently experiencing a bullish surge.October has been a good month for crypto investors. El Salvador’s move to adopt bitcoin as legal tender has been seen in a positive light.El Salvador’s President, Nayib Bukele announced that they will use surplus funds from The Bitcoin Trust to build a veterinary hospital. The use of bitcoin for such a noble cause has surely played a role in public approval and a gain in price.Another reason for Bitcoin’s increase in value is JPMorgan’s recent note to investors – it said that the prized crypto asset seems to be a better hedge against inflation than gold. I believe the latest bitcoin rally is a direct result of inflation concerns and investors are using the cryptocurrency as a hedge against it. The US’s positive stance on cryptocurrencies in recent weeks is another contributing factor.The public sentiment is bullish at the moment and there appear to be no roadblocks in the near future. 2021 has been a topsy-turvy year for cryptocurrencies as is usually the case – we could be in for a good end to the year!
Konstantin Anissimov, CEX.IO
Tuesday 12 October 2021 07:58 , Anthony Cuthbertson
A mysterious investor, or group of investors, has placed an order to buy $1.6 billion worth of bitcoin on a cryptocurrency exchange.
Such a large volume trade has inevitably contributed to bitcoin’s price surge, pushing it above $57,000 for the first time since May.
Ki Young, a crypto analyst and CEO of on-chain data firm CryptoQuant, speculated that traders may be taking on large positions ahead of a rumoured approval by the US Securities and Exchange Commission of a futures-based bitcoin exchange-traded fund (ETF). This kind of announcement would be huge for bitcoin, and would almost certainly lead to fresh new price highs.
Tuesday 12 October 2021 07:51 , Anthony Cuthbertson
Bitcoin has risen by nearly a third in value since the start of the month, with the price gains pushing the overall crypto market cap above the value of tech giants like Amazon, Alphabet (Google) and Microsoft.
The cryptocurrency market is currently worth $2.32 trillion, meaning only Apple is worth more at $2.36 trillion.
The market value of bitcoin alone is more than $1 trillion, meaning one more price rally could push it above silver. Some analysts and investors, such as MicroStrategy’s Michael Saylor, believe the world’s most valuable cryptocurrency will one day “flip” gold, due to its inbuilt scarcity. That would put the price of a single bitcoin at around half a million dollars.
Tuesday 12 October 2021 07:35 , Anthony Cuthbertson
to The Independent’s live coverage of the crypto market. With another bull run seemingly underway, we’ll have all the latest news, updates and analysis throughout the week for bitcoin, Ethereum (ether) and other leading cryptocurrencies.
We’ll also be bringing you expert price predictions, as well as seeking to answer the question of whether we really are set to see a new all-time high for bitcoin within the next 10 weeks. It’s currently less than $7,000 away from hitting a new record, with its notorious volatility meaning such a jump could be achieved in just a few hours – though such a significant price move could also go the other way.
ARK Invest went shopping on Thursday, buying into three stocks that have fallen after posting disappointing quarterly results this earnings season.
When a stock features an attractive dividend yield and appears undervalued too, that's when potential investors should pay attention.
You can get attractive growth potential and a growing dividend from this REIT, and you'll still have bragging rights about owning a hot name.
Does a 6.2% dividend yield sound good to you? What about a 6.2% yield that has been tested by fire? Don't miss out on this one.
If you look beyond the hottest tickers, you can find companies giving out jumbo dividends.
The cost of two nuclear reactors being built in Georgia is now $28.5 billion, more than twice the original price tag.
Microsoft is the sole survivor in the current top 10 list. Airbnb (NASDAQ: ABNB) is the smallest stock on this list, and it would probably have to go up at least 30 times in value to make the top 10 of 2035.
Verizon Communications Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T) shares are trading lower following reports indicating the companies agreed to delay the 5G rollout following FAA concerns about potential interference with airplane safety systems. The two companies agreed to delay the launch of 5G for about a month so they can work with the Federal Aviation Administration to address concerns about potential interference with key cockpit safety systems. Verizon Communications Inc. offers communicatio
(Bloomberg) — The implosion of Zillow Group Inc.’s home-flipping operation isn’t an indictment of a business model that uses algorithms to buy and sell houses, according to the chief executive officer of the company’s chief competitor.Most Read from BloombergChina’s Climate Goals Hinge on a $440 Billion Nuclear BuildoutResults on Key Ballot Initiatives, From Policing to the EnvironmentSupply Chain Crisis Risks Taking the Global Economy Down With ItAtlanta’s Crowded Election Pits Former Mayor Ve
Lucid Group (NASDAQ: LCID), the American electric vehicle (EV) maker that went public by merging with a special purpose acquisition company (SPAC) earlier this year, recently became one of the most talked-about stocks on Reddit's WallStreetBets (WSB) subreddit. The latest catalyst was Lucid's initial batch of customer deliveries for its custom "Dream Edition" Lucid Air EVs in late October. Lucid's first shipments should silence some of the bears, but is it still too early to buy the stock and assume it can replicate Tesla's (NASDAQ: TSLA) huge gains?
Cathie Wood has become a star of Wall Street by identifying the innovative companies behind new growth trends. The company is in the early stages of growing Primary360, its "one-stop-shop" virtual healthcare solution resulting from multiple acquisitions and years of planning.
Shiba Inu is challenging Dogecoin for the meme-token crown. Bitcoin and Ethereum may be more compelling on their fundamentals.
Share prices of Activision Blizzard (NASDAQ: ATVI) are down about 12.7% week-to-date through Thursday after management announced the departure of Jen Oneal as co-lead of Blizzard and said that the highly anticipated releases of Diablo 4 and Overwatch 2 would be delayed. The Blizzard segment has undergone several personnel changes since it was hit with a lawsuit over its workplace culture in July. Despite the personnel changes lately, Blizzard's business performed well in the quarter, with revenue up 20% year over year driven by the launch of Diablo 2: Resurrected.
Such is my case: In January 2017, I purchased my first 10 shares of e-commerce specialist Shopify (NYSE: SHOP). Here's the thing: Shopify has some distinct characteristics that aren't that hard to look for. By seeking out these characteristics in today's smaller companies, I believe I have a decent chance of discovering another Shopify-like holding for my portfolio — and I've already put some skin in the game.
Although Bitcoin's gains from its debut more than a decade ago are impressive, it's the returns of Shiba Inu (CRYPTO: SHIB) since its debut last year that are truly jaw-dropping. The Japanese Shiba Inu dog breed is the inspiration behind the world's hottest cryptocurrency. Meme coin Shiba Inu first hit select cryptocurrency exchanges for trading on Aug. 1, 2020, with a first-day print of $0.00000000051 per token.
Also, where to find bargains in the stock market, important retirement-account rules and a difficult day for Peloton.
It likely won't get any easier with the next generations of revolutionary tech, including artificial intelligence, machine learning, and what Mark Zuckerberg is calling the metaverse — a virtual-reality world that he hopes will be the next big thing. While it's still Facebook (NASDAQ: FB) right now, come Dec. 1 it will officially be called Meta — short for metaverse. The company opted to change its name to align with its shifting focus toward the evolving sphere of virtual reality.
(Bloomberg) — Unprecedented trade surpluses and record inflows into its bond market are giving China a stockpile of dollars unseen since the days when the ‘Asian savings glut’ was blamed for keeping U.S. interest rates excessively low and fueling the sub-prime mortgage crisis.Most Read from BloombergChina’s Climate Goals Hinge on a $440 Billion Nuclear BuildoutWhere Did All the Public Bathrooms Go?‘Airbnb Queen’ Says She’s Caught Up in Platform’s New York FeudSupply Chain Crisis Risks Taking th
For the sixth day in a row, shares of semiconductors specialist Nvidia (NASDAQ: NVDA) marched higher Thursday — actually, they kind of ran higher, running up 8.5% through 11:11 a.m. EDT on the back of positive analyst commentary from Wells Fargo. The same kind of commentary, I might add, as Bank of America provided last week. On Oct. 29, BofA reiterated its buy recommendation on Nvidia stock, explaining that the graphics chip maker will be one of the prime beneficiaries of Meta Platforms' (NASDAQ: FB) — that is to say Facebook's — drive to create a metaverse for all of us to live in online.
Actually, I think that Amazon still has a huge growth runway in e-commerce. Only one-eighth of all retail sales are done online, and that sounds like a massive growth opportunity to me. Amazon Web Services (AWS) also continues to rock.

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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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