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“# Bitcoin price climbs 20% overnight as US banks brace for 40% profit cut ” The dollar value of Bitcoin (BTC) jumped 20% overnight leading into Jan. 12, as the world’s most well-known cryptocurrency recovered swiftly from a 27% decline suffered just days before. The broader cryptocurrency market followed suit on Tuesday, as over $150…
“# Bitcoin could hit $146K long-term by ‘crowding out gold,’ says JPMorgan ” Drawing parallels between Bitcoin (BTC) and gold’s role as a hedge for investors has been popular for years. Until now, the stark discrepancy in the total market capitalizations of the two assets has limited these analogies to a significant extent. Gold, even…
“# 12 of the biggest enterprise blockchain players of 2020 ” Enterprise blockchain started gaining traction in 2017 shortly after Bitcoin had reached its all-time high of nearly $20,000. Since then, enterprise blockchain has mainly been defined by private blockchain networks used by businesses for things such as supply chain management. The enterprise blockchain space…
“# JPMorgan: Bitcoin is ‘overbought’ but will suck money out of gold ” Institutional investors may be all that’s pushing up the price of Bitcoin (BTC), a new report from JPMorgan Chase claims. In comments on Dec. 18 quoted by Bloomberg, strategists led by Nikolaos Panigirtzoglou added to recent forecasts about the role of institutions…
“# Former JPMorgan exec joins Ripple’s board ” Sandie O’Connor, the former chief regulatory affairs officer at banking giant JPMorgan, is joining Ripple’s board of directors. According to a Ripple blog post published yesterday, O’Connor will “provide counsel on key government relations and regulatory initiatives” as part of her role on the board. O’Connor worked…
“# Goldman Sachs to utilize JPM Coin for repo trades ” Goldman Sachs is reportedly one of several financial institutions to sign on to JPMorgan’s custom blockchain service — a sign that more broker-dealers were looking to take advantage of digital currencies for their repo operations. In an interview with Bloomberg, Scott Lucas, head of…
“# Bitcoin will eat gold’s market share, according to JPMorgan ” Growing mainstream acceptance of Bitcoin (BTC) as a reserve asset is having a direct impact on gold, setting the stage for a major shift in institutional allocation between the two assets, according to analysts at JPMorgan Chase. Quantitative strategists, including Nikolaos Panigirtzoglou, believe that…
“# JPMorgan exec: Softer stance on Bitcoin but we’ve always been pro-blockchain ” Contrary to public perception, JPMorgan Chase has always been pro-blockchain, says the multinational investment bank’s head of wholesale payments, Takis Georgakopoulos. In a live discussion with Nasdaq reporter Jill Malandrino at this year’s Blockshow in Singapore, Georgakopoulos said JPMorgan has always viewed…
“# Bitcoin price risks losing ‘critical technical level’ as stocks under pressure ” U.S. stocks have started to correct as worries surrounding the pandemic are mounting. Meanwhile, theBitcoin (BTC) price has pulled back below $18,800 on Dec. 8 after struggling to break resistance at $19,500. The daily price chart of Bitcoin (Coinbase). Source: TradingView COVID-19…
“# Beyond BitMEX: CFTC set a new record for lawsuits in crypto this year ” The Commodity Futures Trading Commission, or CFTC, is having a banner year in crypto enforcement. Per the commission’s annual review released on Tuesday, fiscal year 2020 featured seven monetary relief actions against firms engaged in illegal activity in crypto, which…