The price of Bitcoin may be entering an uncertain phase, as on-chain data says BTC traders have established $10,000 as a strong support level

The price of Bitcoin (BTC) has increased by 28% in the last 30 days and 36% at the weekly peak. Following the top cryptocurrency’s first breakout above $12,000 since September 2019, the sentiment remains optimistic. Many fundamental factors point toward an extended Bitcoin uptrend over the long run. Bitcoin has a favorable macro backdrop with the decline of the United States dollar and the rising demand for gold. The premier cryptocurrency has continuously rallied with the U.S. stock market and gold, demonstrating a consistent increase in appetite for BTC.

Bitcoin also has strong t ... Read more »

Category: News | Views: 41 | Added by: boss | Date: 21.08.2020 | Comments (0)

Grayscale notes that long term holders are increasingly dominating the Bitcoin markets over short-term speculators, driving demand relative to supply

A new report by crypto fund manager Grayscale Investments argues that the current Bitcoin (BTC) market structure “parallels that of early 2016 before it began its historic bull run.”

Grayscale predicts that demand for Bitcoin will significantly grow as inflation accelerates, highlighting the need for a scarce monetary commodity, bolstering the use-case of the cryptocurrency.

The report identifies several on-chain indicators showing growing interest in crypto, noting an increase in long-term holding over short-term speculation, ... Read more »

Category: News | Views: 107 | Added by: boss | Date: 21.08.2020 | Comments (0)

Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with bitcoin. Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy bitcoin at $50,000.

Buffett Changes His Mind About Gold, Bitcoin Could Follow

Billionaire investor Warren Buffett had always held a negative view on gold as an investment. He previously said repeatedly that he preferred to buy shares of good companies instead of any gold investments. That has changed, however.

Buffett’s company Berkshire Hathaway revealed Friday that it had dumped bank stocks and took a position in a gold miner. The price of gold recently spiked ... Read more »

Category: News | Views: 33 | Added by: boss | Date: 21.08.2020 | Comments (0)