Category: Analysis

Miners begin offloading Ethereum holdings as it continues underperforming BTC

Ethereum has been severely underperforming Bitcoin throughout the past few days and weeks, with the second-largest cryptocurrency by market capitalization currently trading far below its yearly highs. Meanwhile, Bitcoin’s price is currently trading at the highest price seen in well over a year, with bulls vying to break the $13,800 level and bring the crypto…

October 28, 2020
Market data indicates OKEx whales are expecting Bitcoin to spike past $14k

Bitcoin is spiking higher once again as buyers continue to rush in. According to CryptoSlate market data, the price of Bitcoin currently trades for $13,680, its highest price this year, and a price just shy of 2019’s high at $14,000. Chart of BTC’s price action over the past two weeks. Source: BTCUSD from TradingView.com Analysts…

October 27, 2020
Analyst says retail investors entering Bitcoin market will push prices to $20k

Analysts have argued that much of Bitcoin’s recent upward price action is a byproduct of institutional players entering the fray. Open interest in the CME’s Bitcoin futures market, along with on-chain trends, suggests that a number of large players are the ones accumulating the coins, driving prices higher. An analyst says that once retail investors…

October 27, 2020
3 critical points from JP Morgan’s bullish Bitcoin report

On Friday, Wall Street bank JPMorgan released a report covering the latest trends in Bitcoin and cryptocurrency extensively. The report shocked much of Crypto Twitter as years prior, the firm’s chief executive seemed to have a distaste for cryptocurrencies. This has changed as Bitcoin and similar technologies have proven their legitimacy, with firms like Fidelity Investments…

October 26, 2020
Asset manager: MicroStrategy’s $425m Bitcoin bet may become $10b in a decade

Dan Tepiero, the 10T Holdings co-founder, believes MicroStrategy’s $425 million Bitcoin bet could be worth $10 billion in a decade. On September 14, less than two months ago, MicroStrategy CEO Michael Saylor confirmed the purchase of $425 million in Bitcoin. He said at the time: “MicroStrategy completed its acquisition of 16,796 additional bitcoins at an…

October 26, 2020
Ethereum hit a $46b valuation with 1 value accrual mechanism. Wait until there are three

Ethereum is by far the largest cryptocurrency behind Bitcoin. The asset has a market capitalization of $46 billion, which makes it around the size of a medium-cap company in the S&P 500. Although impressive, analysts say that Ethereum could rally exponentially higher, likely towards its previous all-time highs, once it gains two more value accrual mechanisms.…

October 26, 2020
Bitcoin breaking $14,000 will bring a new “regime” of market dynamics

Bitcoin’s breakout this past week has captured the attention of those within this industry and those outside of it. CNBC and Bloomberg covered these moves to the upside extensively, and JP Morgan amongst other Wall Street investment firms and analysts weighed in on the rally. Analysts say that it isn’t time to be entirely excited…

October 24, 2020
This newly launched crypto token just pumped 1000% following Binance listing

As the DeFi market’s momentum continues stagnating, return hungry crypto investors have been flocking to presales and new token listings to try to garner massive profits in a short amount of time. However, this has resulted in massive losses due to the frequency of so-called “rug pulls” resulting in investors losing 100% of what they…

October 23, 2020
Why an analyst thinks Thorchain (RUNE) will benefit from a PayPal BitGo acquisition

The biggest crypto news event of the last day is the report from Bloomberg that PayPal is looking into acquiring BitGo, one of the industry’s leading digital asset custodians. The news first broke in China, then eventually spread to the Western world through Bloomberg. The outlet reported that “people familiar with the matter” indicate that…

October 23, 2020
Synthetix founder calls Bitcoin’s weekly chart the “most bullish thing” he has seen

Bitcoin’s price action over recent weeks and months has undoubtedly been bullish. In the face of macroeconomic turmoil and the worst pandemic in a century, the leading cryptocurrency has shot higher. In the past week alone, the price of one BTC has gained just under $2,000. The cryptocurrency is expected to move even higher in…

October 23, 2020