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 […]
According to a recent report by Bloomberg, JPMorgan Chase & Co strategists, led by Nikolaos Panigirtzoglou, have cited that Bitcoin (BTC) has to reclaim the $40k level soon or risks losing its bullish momentum and trend-following investors. The team added that the pattern of demand for BTC futures and the Grayscale Bitcoin Trust (GBTC) could […]
After breaking with the mid term bullish structure we retraced back 61.8% of last week’s range and printed a new fresh higher low.Price is trading inside of a bullish flag and a break of the flag could catapult price to retest the structure highs at around the 37750 level which confluences with the 1.618% […]
Grayscale recorded its best year in 2020 yet with massive allocations, mostly from institutional investors, despite the dramatic events that plagued that year. The cryptocurrency investment fund posted record-breaking numbers in the first three quarters of 2020 and profoundly better reports in Q4. The firm reported that the total investments in the last three months […]
The cryptocurrency industry is taking no breaks in its erratic moves. The past few weeks are testimony to this fact. Over the past few hours, Bitcoin (BTC)—and many altcoins—have recorded yet another erratic session, leading to significant liquidation across the board. Reports show that about $400 million worth of both long and short positions have […]
Bitcoin has rallied more than 32% since it bounced from the $32,000 level on Monday all trading inside of a very structured move. We have pulled back to the previous broken level inside of a bullish flag printing massive hidden bullish divergence on the way. Should this flag breakout we could see BTC rally to […]
