Speaking in a recent interview with Bloomberg TV, Scott Minerd—the CIO of Guggenheim Partners—noted that institutional demand for Bitcoin (BTC) will not be enough to sustain the cryptocurrency above the $30k psychological mark. Minerd believes that the benchmark cryptocurrency is far away from $35k or even $30k if it were relying on just institutional investment. […]
Following a significant parabolic bull run that saw Bitcoin (BTC) hit a new all-time high some weeks ago, the benchmark cryptocurrency—in a weird twist of events—is now in a battle to stay above the $30k psychological mark. This $12,000 decline has caused many to wonder if the bull cycle is over and if BTC will […]
Bitcoin (BTC) has been having a difficult time over the past few days, as the price continues to struggle to close the gap to its recent highs. The price dynamics surrounding the benchmark cryptocurrency appears to be tilted in favor of bears in the past few days, with Bitcoin recording a sharp decline below the […]
Since its inception in 2009, people have wondered if Bitcoin (BTC) could become a standard electronic peer-to-peer cash system, as intended by Satoshi Nakamoto. However, some have asserted that the cryptocurrency’s erratic volatility will make this ambition impossible. That said, a recent report shows that the Bank of Singapore shares this belief as well. The […]
The cryptocurrency community is optimistic that this year is the year US regulators finally approve a Bitcoin (BTC)-based exchange-traded fund (ETF), which would be hosted on a major stock exchange. In December 2020, VanEck reapplied for a BTC-based ETF with the US SEC. Just this week, VanEck has filed for yet another ETF dubbed the […]
President Joe Biden’s Treasury Secretary nominee, Janet Yellen, appears to have endorsed Bitcoin (BTC) and the cryptocurrency industry, following previous negative comments about the technology. The Treasury Secretary nominee stated—in a written response to the US Senate Finance Committee—that cryptocurrencies have immense benefits that need to be taken advantage of. She noted that the technology […]
Two JPMorgan strategists—John Normand and Federico Manicardi—issued a report recently, noting that Bitcoin (BTC) is more of a risk-on asset than a hedge against erratic markets. The duo remarked in the report that Bitcoin was the “least reliable hedge” in bear markets. In March 2020, during the Black Thursday crash, coronavirus-induced panic triggered a massive […]
The world’s largest asset management firm, BlackRock, has just hinted that they could start trading cash-settled Bitcoin futures soon. This move was discovered through a new filing with the US Securities and Exchange Commission (SEC). BlackRock had an AUM of about $8 trillion as of last year. To put things into perspective, that AUM standing […]
A recent survey conducted by the Bank of America (BofA) on investment firms with over $500 billion in assets under management showed that investors are very bullish on Bitcoin’s long-term prospects. The survey highlighted that “long Bitcoin” has overtaken “long tech stocks” as the most taken trade in January 2021. Reuters reported earlier today that […]
