WBTC, BTCB, and other wrapped Bitcoin implementations may contribute to a BTC supply shortage looming on the horizon

In a blog post of Friday, Binance re-introduced BTCB to the world — a wrapped Bitcoin asset intended to bring liquidity from the world's largest cryptocurrency, BTC, to Binance Smart Chain's DeFi (decentralized finance) ecosystem. 

However, hodlers may be cheering the renewed interest in BTCB for a different reason: each Bitcoin locked on BSC may contribute to a looming BTC supply crisis.

First announced last year, Binance initially saw wrapped Bitcoin solely as a vehicle for traders to obtain cross-chain asset exposure without leaving BSC. Since then, however, the utility of wrapped B ... Read more »

Category: News | Views: 24 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

Analysts make a slew of wild predictions as Bitcoin continues its moon mission in this week's Bad Crypto podcast

Bitcoin continues to move through the gears. The currency is up more than 12 percent over the week and is now playing with the $18,000 mark. And it’s not just the US dollar that Bitcoin is bashing. It’s also hit all-time highs against the Russian ruble, the Colombian peso, the Brazilian real, the Turkish lira, and the Sudanese pound among others. Its rise, now 375 percent above the point that gold investor Peter Schiff accidentally called as Bitcoin’s bottom, is inevitably causing analysts to ask how high it can go.

One expert is predicting that Bitcoin will soon hit $22,000, citing HODL and fu ... Read more »

Category: News | Views: 31 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

 SushiSwap has once again taken center stage in the decentralized finance (DeFi) space. The decentralized exchange’s liquidity has seen an exponential explosion over recent days while the SUSHI token itself has gained 200% from the local lows set just weeks ago.

SushiSwap has had a bit of a storied history. It was launched as a fork of the Uniswap exchange just months ago, managing to beat Uniswap temporarily, then dropped into the shadows for a few weeks due to the initial controversy around the Nomi Chef situation.

SUSHI seems poised to rally further as the project gains fundamental strength and goes on a path independent of Uniswap.

SUSHI Surges 10% Higher

SUSHI has surged 10% higher in the past ... Read more »

Category: News | Views: 19 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

Bitcoin is exploding higher despite fears that it would see a strong drawdown toward the $14,000-15,000 region. The coin currently trades for $18,800, which is a new year-to-date high and multi-year highs.

The coin is up 6% in the past 24 hours as buyers continue to flood in. Here are three reasons why the cryptocurrency could continue to rocket higher in the weeks ahead.

 

#1: Bitcoin is Getting Further Wall Street Support

First and foremost, Bitcoin is getting more support from Wall Street investors despite the fears that the cryptocurrency was a scam just years ago.

One CIO at Blackrock, one of the world’s biggest financial companies, announced this morning that he thinks cryptocurrenc ... Read more »

Category: News | Views: 20 | Added by: 4zvezda | Date: 21.11.2020 | Comments (0)

The Texas State Securities Board (TSSB) has announced a series of enforcement actions against 15 online investment entities that illegally market cryptocurrency, binary options, and forex investments in Texas.

Fake Social Media Accounts

The regulator alleges that operators of the companies are using their social media skills as well as the internet to mask the fraudulent nature of their operations. The emergency enforcement order, therefore, stops the flagged companies from continuing to operate from the state of Texas until they get a license from the regulator.

Meanwhile, in his comments that accompany the cease and desist orders, TSSB Commissioner Travis J. Iles highlig ... Read more »

Category: News | Views: 14 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.”

South Africa’s Crypto Regulation

South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021. The regulator wrote:

Globally there is rapid ... Read more »

Category: News | Views: 24 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

Ethereum has surged higher in the past 24 hours by nearly 10%, pushing as high as $520 for the first time since 2018. The leading cryptocurrency is currently outpacing Bitcoin on a daily basis, though is still underpacing BTC on a multi-week basis.

Analysts think the cryptocurrency will surge even higher in the weeks ahead as the trend still seems to be positive for the top coin.

Ethereum Surges Higher 

Analysts think Ethereum explode higher in the weeks ahead as it passes key resistance levels in the high-$400s and enters the $500s. Referencing the chart seen below, which shows Ethereum breaking above long-term resistance levels, one analyst recently commented:

... Read more »

Category: Analytics | Views: 23 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

(Bloomberg) -- Bitcoin mania is back and with it, the return of sky-high predictions from celebrity crypto fund managers to Wall Street stalwarts of where it can go next.

The world’s largest digital currency is in the midst of an exuberant rally that this week saw it cross above $18,800 for the first time in almost three years. Strategists and crypto fans alike are now rushing to project its next never-before-seen heights. Outside of the eternal to the “moon” pronouncements from Twitter pundits, forecasts vary from $25,000 to more than $300,000 by the end of next year.

Here’s what’s aided Bitcoin’s run: a warmer embrace from the likes of Fidelity Investments and JPMorgan Chase & Co. is often cited as a catalyst, as is a decision by PayPal Holdings Inc. to allow its customers access to cryptoc ... Read more »

Category: News | Views: 6 | Added by: 4zvezda | Date: 21.11.2020 | Comments (0)

Nvidia released its earnings for the third fiscal quarter of 2021 this week, showing better-than-expected results, driven by sales of its graphics processing unit (GPU) chips. The firm reported graphics segment revenue of $2.79 billion for the quarter, beating analyst estimates of $2.1 billion.

Within the graphics segment also falls the gaming division. Nvidia said that its new line of graphics cards based on a new technology called Ampere drew strong interest from computer and videogame console developers. For example, one of the new models, the Geforce RTX 3080, went on sale in September and sold out immediately.

Nvidia said gaming revenue climbed 37% year-on-year to $2.27 billion, a record for the company.< ... Read more »

Category: News | Views: 27 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

It is Bitcoin’s technical characteristics that make it an ideal, diversified corporate treasury holding.

Holding Bitcoin (BTC) in treasury will soon become a corporate standard. Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already. MicroStrategy stock rallied just like BTC as well — by 50%. According to Saylor, Bitcoin was the best inflation hedge and store of value, and in his words, “Cash is trash.” His wager has, so far, been handsomely rewarding.

Technically speaking, Bitcoin is, in fact, a worldwi ... Read more »

Category: News | Views: 24 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)


The price of Bitcoin has been on a tear, rising nearly 160% this year and about 25% month to date. That might be just the beginning, ARK Investment Management CEO Catherine Wood told Barron’s readers Thursday.

Bitcoin’s recent rise to $18,640 may give investors flashbacks to 2017, when the cryptocurrency reached a high of $19,783.21 in December before selling off. This time is different for one big reason, Wood said: the involvement of institutional investors, which she said could drive Bitcoin’s price to $500,000.

The founder of ARK and a noted booster of disruptive technologies such as Bitcoin and Tesla told attendees of Barron’s virtual Investing in Tech series that Bitcoin is the most recogni ... Read more »

Category: News | Views: 43 | Added by: 4zvezda | Date: 21.11.2020 | Comments (0)

  • The largest cryptocurrency gained as much as US$875, or 4.9 per cent, to US$18,821 on Friday
  • Bitcoin soared 1,375 per cent in 2017 to almost US$20,000 before plunging 70 per cent the next year

Bitcoin extended its eye-popping rally, approaching US$19,000 for the first time in almost three years, while enthusiasts predict it will quickly surpass its all-time high.
The largest cryptocurrency gained as much as US$875, or 4.9 per cent, to US$18,821 on Friday. Bitcoin has jumped more than 15 per cent this week. Having more than doubled this year, the surge is spu ... Read more »

Category: News | Views: 38 | Added by: 4zvezda | Date: 21.11.2020 | Comments (0)

Bitcoin's supply crunch could be having a dramatic impact on price, according to Pantera Capital.

PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price. 

In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal.

PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in circulation.

Citing itBit data, Pantera claims:

“When P ... Read more »

Category: Analytics | Views: 39 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)

Bitcoin price looks on track to set a new all-time high for these 4 key reasons.

Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons.

The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach.

< ... Read more »

Category: Analytics | Views: 26 | Added by: danyagames2007 | Date: 21.11.2020 | Comments (0)