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“# JPMorgan says Bitcoin slightly overvalued as a commodity ” Multiple JPMorgan Chase experts analyzed Bitcoin’s current price when compared to other commodities, and noted that the asset could see selling pressure ahead. “The JPMorgan strategists said they calculated an intrinsic value by effectively treating Bitcoin as a commodity and looking at the marginal cost…
“# Multiple data points suggest Bitcoin’s 2017-style bull run has begun ” Last week, Bitcoin (BTC) saw its price rise 6.95%, rising from $10,804 on October 5 to $11,555 by October 12. The surge marked the best performing week for the price of Bitcoin since July and data show a noticeable shift in market sentiment…
“# Crypto traders cautious on Bitcoin price as rally to $11.7K goes sour ” After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders began to turn slightly skeptical on the dominant cryptocurrency. Despite the initial breakout above two key resistance levels at $11,300 and $11,500, BTC recorded several rejections. While it might be…
“# Cointelegraph Consulting: New stimulus checks may push Bitcoin price above $11K ” The latest research by Cointelegraph Consulting suggests that financial stimulus packages bolster the stock market and cryptocurrencies. The first round of checks worth $1,200 were deposited directly into bank accounts on April 11. A week later, the CEO of Coinbase, Brian Armstrong,…
“# New report finds 15 major factors that cause crypto prices to rally ” EToro, the major multi-asset brokerage, released a crypto market quarterly report for Q3 2020. The report, titled “What Moves the Prices of Cryptoassets,” delves into the main factors that cause cryptocurrencies to rise in value. The 15 “significant developments” that directly…
“# Public companies hold almost $7B in Bitcoin in heads-up to Grayscale ” Bitcoin (BTC) holdings at public companies topped $6.8 billion this year as newcomers catch up with industry heavyweight Grayscale. According to monitoring resource Coin98 Analytics, a total of 13 public companies have now invested in Bitcoin. Putting Grayscale’s “sun” in the shade…
“# Bitcoin volume unaffected by Tether’s (USDT) market dominance — Data shows ” Tether’s (USDT) stablecoin has been the leading base pair for cryptocurrencies for over eighteen months. This is a rather impressive feat given the ongoing court case with the New York Attorney General and the other frequent rumors that USDT is not sufficiently…
“# Fidelity makes it clear: Bitcoin volatility is worth the risk for institutions ” In a recently released report titled Bitcoin Investment Thesis, Fidelity Digital Assets demonstrated how portfolio managers could increase their returns by allocating a portion of their holdings to Bitcoin (BTC). The report also speculated that in the near future, increased institutional…
“# Fidelity says “there is almost no relationship between the returns of Bitcoin and other assets” ” In recent years, a battle of the minds has surfaced on whether or not Bitcoin’s price is correlated with other financial assets, such as stocks. A recent report from Fidelity Digital Assets brings clarity to the argument. Fidelity’s…
“# Here’s how to properly earn a DeFi sized yield trading Bitcoin options ” I recently caught wind of an interesting Cointelegraph article explaining how investors could earn 41% APY on their Bitcoin without converting it to renBTC or WBTC. In the article, the writer laid out a detailed case for generating yield on Bitcoin…