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The world’s most popular cryptocurrency is having a furious, if not a never-before-seen rally in 2021. Zealous crypto investors believe the mammoth bull run is only the beginning. MicroStrategy’s CEO Michael Saylor said bitcoin’s price could soar even more. His price target is US$100 by year-end.

Saylor adds that the digital currency will flip gold and subsume the negative-yielding sovereign debt and other monetary indexes. Its market value could balloon to $100 trillion. However, investors should be careful. The trend could reverse, and the price could drop to US$10 given the super volatility nature of bitcoin.

What’s moving the needle
The entry of more institutional investors is driving bitcoin’s phenomenal surge. In 2020, PayPal and Square, along with well-known investors Stanley Druckenmille ... Read more »

Category: News | Views: 2 | Added by: danyagames2007 | Date: Today | Comments (0)

Bitcoin has been thriving for months, but in the eyes of a couple of venerable banks, the moment is now for the largest cryptocurrency. The long-term allure is undeniable.

Currently flirting with $50,000, there’s a potentially significant runway for Bitcoin price appreciation as the usage case expands and more institutional investors step into the market.

“In a report by Citigroup’s Global Perspectives & Solutions, strategists laid out a case for Bitcoin to play a bigger role in the global financial system, saying the cryptocurrency could become ‘the currency of choice for international trade’ in the years ahead,” reports Olivia Raimonde for Bloomberg. “Bitcoin has advantages over the current global payment system, such as its decentralized design, lack of foreign exchange exposure and ... Read more »

Category: News | Views: 3 | Added by: danyagames2007 | Date: Today | Comments (0)

We are approaching 8 billion people on this planet, and so anything that a lot of people do is likely to have a significant impact. This includes things that we previously considered to be essentially resource free, or at least insignificant, including digital activity. This may be a bit of a generational thing – those of us who lived through the explosion of computer use, the adoption of the web and social media, and the general shift from analog to digital technology grew up with the idea that doing things digitally was resource efficient.

For example, there was a huge push to transform to a “paperless office” because that would save trees. It is much better to shuffle electrons around than pieces of paper. This transition took a lot longer than anyone thought, and in fact – it hasn’t really happened yet. Here we are, 40 years later, and office paper use is still increasing. No one would have predicted that.

Because of the pandemic mee ... Read more »

Category: News | Views: 61 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud” on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored on the exchange platform.

 

Cybercriminals Blamed

According to a Spanish media report, the unnamed user’s problems started when initial attempts to access his funds were unsuccessful. However, after gaining access some 48 hours later, the user reports that “the money had literally disappeared.” The user contacted representatives ... Read more »

Category: News | Views: 20 | Added by: 4zvezda | Date: Yesterday | Comments (0)

BTC/USD started the week at 57,499 near the all-time high at 58,400, based on the CEX.IOpricing. In the first four hours of Monday’s trading session, BTC/USD declined to 56,000, which was an important support level in intraday terms. The level produced some buying pressure for the pair but only for the next four hours, as BTC/USD closed the 4-hour candlestick between 04:00 and 08:00 UTC at 46,479.

That, however, made no lasting influence, and BTC/USD had broken down below 56,000 and dropped below 53,500 by 16:00 UTC. That was a signal for a big sale, as the Bitcoin market had been overheated. In confirmation of that hypothesis, BTC/USD made a huge rollercoaster swing in the interval between 13:00 and 15:00 UTC, falling from 53 ... Read more »

Category: News | Views: 12 | Added by: danyagames2007 | Date: Yesterday | Comments (0)

Total active collateral in the Bitcoin lending markets has grown from $1.9 billion in Q3 2019 to a whopping $24.3 billion in Q4 2020, reveals the latest joint report by Arcane Research and crypto exchange Bitstamp.

The crypto lending market is simply flourishing, but it has a long way to go with the collateral markets' current size estimated to be $20 trillion, providing a huge potential for bitcoin as collateral.

Over 400,000 BTC are estimated to be used as collateral for Bitcoin-backed loans today, doubling over the last year, reads the report. It is particularly used to leverage up and buy more crypto for arbitrage, market-making, tax deferment, and the need for fiat and miners covering costs.

The interest rate on Bitcoin deposits is currently high at 6-10%, which is expected to decline as more BTC are collateralized, and the crypto sector grows.

In total, 625,000 BTC, approximately $30 billion, are used as collateral in the crypto market today ... Read more »

Category: News | Views: 26 | Added by: danyagames2007 | Date: 28.02.2021 | Comments (0)

Panic has been evident across global markets and global banks for a while now, with central banks around the world escalating efforts to combat this by pledging to buy more bonds. However, such Yield Curve Control is expected to have far-reaching implications on Bitcoin’s price. While it incorporates inflation expectations and credit concerns, at the same time, it controls the market’s ability to express free-market pricing.

Ergo, market participants may look for other avenues to hedge risk and book higher returns, when compared to other asset classes.

Based on Bitcoin’s risk-adjusted returns chart from Willy Woo, BTC’s risk-adjusted returns are higher than that of other assets, including Gold, U.S St ... Read more »

Category: News | Views: 30 | Added by: danyagames2007 | Date: 28.02.2021 | Comments (0)

Bitcoin seems to only catching more steam in 2021. Cryptocurrency bulls believe it’s only the beginning, with Bitcoin surging above the US$50,000 mark and still hovering around there. However, not everyone is so sure that the Bitcoin rally will continue.

In fact, some are calling Bitcoin outright dangerous. Yet it’s hard not to be tempted by Bitcoin, with prices surging, and investors like Elon Musk getting on board. But now, there is another way investors can jump on the Bitcoin bandwagon: through an exchange-traded fund (ETF).

Purpose Bitcoin
In February, Canadians received an opportunity to start investing in Bitcoin through the Purpose Bitcoin ETF (TSX:BTCC.B). The ETF aims to track the performance of Bitcoin directly, and investors clamoured aboard. More than $260 million of shares were bought and sold durin ... Read more »

Category: News | Views: 61 | Added by: danyagames2007 | Date: 28.02.2021 | Comments (0)

The value of Bitcoin has soared in the last year or so, reaching a record-high of $50,000 this month. According to a tool developed by researchers at Cambridge University, the currency’s energy use is equivalent to the annual carbon footprint of Argentina.

As per the Cambridge Bitcoin Electricity Consumption Index, China, where approximately 60% of electricity comes from coal, has the most bitcoin mining of any country.

Bitcoin mining requires special computer equipment that can handle the energy-intensive processing power needed to get bitcoin. These computers use vast amounts of electricity.

The online tool has ranked Bitcoin’s electricity consumption above Argentina, the Netherlands and the United Arab Emirates. To put this into perspective, researchers say this energy could power all the kettles used in the ... Read more »

Category: News | Views: 50 | Added by: danyagames2007 | Date: 28.02.2021 | Comments (0)

Bitcoin and other cryptocurrencies are all the rage right now.

Of course, the rise of non-government, decentralized, encrypted electronic currencies like bitcoin has been going on for years. But in recent months it has surged to the forefront of the national conversation as major figures like Elon Musk have bought in and bitcoin has hit record valuation levels.

Many Americans may not have followed the trend closely, and are seeking to understand it. So, to help readers better understand the novel technological trend, FEE interviewed Will Luther, an economics professor, director of the American Institute for Economic Research’s Sound Money Project, and an adjunct scholar with the Cato Institute’s Center for Moneta ... Read more »

Category: News | Views: 81 | Added by: danyagames2007 | Date: 28.02.2021 | Comments (0)

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