Category: Markets and Prices
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‘Enormous Wall of Money’ Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal
Macro strategist Raoul Pal says the price of bitcoin will reach $1 million in five years. He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.” $1 Million Bitcoin in 5 Years Former hedge fund manager Raoul…
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Market Update: Bitcoin Captures $11K, Flash Buy Signals, Bollinger Band Squeeze
Cryptocurrency markets are seeing decent gains on Friday following the announcement Square made the day prior about purchasing $50 million worth of bitcoin for reserves. During the morning trading sessions, the overall market capitalization of all 7,000+ crypto assets is up over 2% hovering at $340 billion. Digital currency markets are doing well on October…
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Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase – Report
Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlone premised his argument on past bitcoin trends, including the period in which the price took four years to go from $1,000 to $10,000 in 2017. “So, doubling that time frame for maturation could get the price toward $100,000…
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Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range
The Bitcoin network has achieved a few new milestones during the last week, as the price has remained above the $10k range for a record 66 consecutive days. Meanwhile, the network has surpassed 18.5 million bitcoin issued, as the global hashrate coasts along at an all-time high of 140 exahash per second (EH/s). As of…
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Bitcoin Is Undervalued, Fair Value Price Should Be $15,000, Says Analyst
Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash…
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Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble
Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by…
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Turbulent Crypto Markets Expected – 87K Worth of Bitcoin Options Set to Expire on Friday
Markets are expected to be volatile this week, as a great number of bitcoin and ethereum options are set to expire this Friday. Data shows more than 87,000 bitcoin options will expire and 77% of the action is held on the Deribit exchange. U.S. stocks dropped hard on Monday, as the Dow Jones Industrial Average…
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Over 40 Bitcoin Forks Are Down More Than 98% Since 2017’s Forking Fiesta
Since the summer of 2017, more than 44 forks of the Bitcoin network were created and so far many of them have lost considerable value and are near worthless. To-date only a few of the forks that stem from Satoshi’s creation have remained relevant during the last three years. There are three branches of Satoshi…
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Market Outlook: Bitcoin Breaks $11K, Whales Refuse to Sell, Downside Risk Remains
The price of bitcoin jumped above the $11k threshold on Saturday morning and into the afternoon, after hovering above the $10,900 range the day prior. The entire crypto-economy of 7,600+ coins has gained 2.29% during the last 24 hours touching $344 billion. Bitcoin (BTC) markets have surpassed key levels above the $11k mark on Saturday,…
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Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining
The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts. More than 15% of the total ETH supply is now locked, compared to 11.5% from a year ago. This growth led to the inevitable decline of BTC dominance. According to a…