While the original Bitcoin rallies past a $1 trillion dollar marketcap, two forks of the world’s most popular cryptocurrency have instead lost a source of liquidity as crypto exchange OKCoin delists BSV and BCH. In a blog post today, OKCoin CEO Hong Fang explained the decision to delist as one focused on protecting investors from a “malicious misinformation war.” Fang noted that the exhcange regularly reviews listed assets across a variety of metrics, “including ecosystem development and ethos” as well as “ethical or reputational red flags,” and that the two forks were removed following the most recent review. Given the …

The bullish momentum seen throughout the week has spilled over into the weekend as the majority of the top-100 tokens listed on CoinMarketCap are posting double-digit gains. Bitcoin (BTC) entering a brief consolidation period and the possibility of a third round of stimulus checks for American citizens are two possible reasons for today’s bullish price action. While there are concerns about the recent large Bitcoin inflows into South Korean exchanges by BTC whales, fundamentals factors like miner sentiment and decreasing supply are keeping investors feeling relatively optimistic about Bitcoin’s future price prospects. A growing number of experts have voiced their …

Bitcoin (BTC) price plunged by about $3,400 in an hour, warning traders that corrections during a parabolic move are likely to be sharp. Data from Glassnode shows that the fall resulted in the liquidation of Bitcoin futures long positions worth about $190 million on Binance within an hour, the largest to date. In a strong uptrend, corrections are swift but short-lived because investors who expect the rally to continue use the dips to buy. Binance US CEO Catherine Coley believes the Bitcoin could climb to “$75,000 to $100,000” by the end of this year. Meanwhile, investor Raoul Paul is even …

On-chain data suggests that high-net-worth individuals continued to buy Bitcoin (BTC) after Christmas. Analysts at Santiment said that smaller traders sold about $647 million worth of Bitcoin and this sum may have been bought up by Bitcoin whales. Data also signals that large investors have been buying and holding their purchases throughout 2020, without booking profits in an aggressive manner. According to Glassnode analysts, this has caused the number of Bitcoin in circulation to decline by about 1 million. That means, out of the total available supply, 14.5 million Bitcoin are considered illiquid. Glassnode analysts say that this leaves only …

An unusual interview with Bitcoin SV (BSV) proponent Jimmy Nguyen on Fox Business earlier today appears to have been cut short after Nguyen kept criticizing Bitcoin. Nguyen appeared on the Dec. 3 episode of Fox Business’ Varney and Co. to discuss the increasing interest around Bitcoin, but the interview came to an abrupt end after a total of about two minutes. Introduced as the “Bitcoin Association” founding president, Nguyen repeatedly took shots at Bitcoin in response to questions from host Stuart Varney suggesting that Bitcoin was increasingly being used for payments. There was no mention of Bitcoin SV in either …

Bitcoin (BTC) has been leading the current crypto rally for the past few weeks, and this has boosted its dominance from 56% on Sep. 3 to 67% on Nov. 18. However, as Bitcoin nears its all-time high, it seems to be losing momentum as the action shifts to altcoins. This has pulled Bitcoin’s dominance down to about 62.3%. No long-term bull market can be led by one leader alone. There are periodic rotations when the leader enters a consolidation or a minor correction while others take the lead. A similar rotation is currently playing out in the crypto markets, with …

Bitcoin’s (BTC) current rally has largely been led by investments from institutional investors and publicly listed companies. Data from Bitcointreasuries shows that companies hold about 4.54% of the current Bitcoin supply. A survey of 700 high-net-worth individuals chosen from across the globe shows that about 73% of respondents either own or want to own cryptocurrencies before the end of 2022. The proposed influx of money from large investors could boost demand and drive crypto prices higher. Bloomberg Intelligence strategist Mike McGlone believes that if history repeats itself, Bitcoin could rally to $170,000 over the next two years. McGlone pointed out …

Within the last 24-hours, Bitcoin (BTC) price hit an intraday high of $18,466.14 and this is just roughly 8% lower than the magical $20,000 figure being watched by many traders. However, investors in several countries such as Russia, Argentina, Brazil, and Mexico have already seen their Bitcoin holdings hit a new all-time high in their local currency. Even Bitcoin’s market capitalization has hit a new record high, topping the high created in December 2017. With institutional investors finally arriving in herds, it seems it is only a matter of time before Bitcoin finally overtakes $20,000 and sets a new all-time …

As Bitcoin (BTC) continues to rally to a new 2020 high above $16,700, traders are pondering whether this is the start of a new bull market. Mike McGlone, senior commodities strategist at Bloomberg Intelligence, believes that the main hurdle is at the all-time high near $20,000. Once that is crossed, Bitcoin could reach a $1 trillion market capitalization. McGlone anticipates the uptrend to continue in 2021, and there are a growing number of analysts who agree with his view. Veteran trader Peter Brandt also believes that if previous bull runs are considered, Bitcoin is in the early stages of its …

Data shows that Bitcoin’s (BTC) current rally is supported by greater participation from retail and institutional investors. The CME Bitcoin futures open interest has moved closer to the previous all-time high, a sign that institutional investors are becoming more interested in cryptocurrencies. Similarly, Bitcoin’s spot volume has hit a new 52-week high, according to data from Arcane research. However, during strong uptrends, traders tend to get greedy and take on excessive leverage. Hence, large open interest on derivatives could act as a double-edged sword because even a small decline in Bitcoin could force the highly leveraged traders to close their …

Billionaire investor Stanley Druckenmiller became the latest famous name to disclose a Bitcoin position. Although Druckenmiller did not specify the quantity he had purchased, he did say that Bitcoin will outperform gold a lot more “because it’s thinner, more illiquid, and has a lot more beta to it.” Paul Tudor Jones, Stanley Druckenmiller, and Bill Miller are some of the most successful traders and investors on Wall Street. A stamp of approval from them is likely to attract several other investors who may want to diversify their portfolio and outperform the markets. In further validation for the crypto space, controversial …

Professional traders are often perceived to be the smartest, as they weigh the risks before investing in an asset class. Opposite to that, most retail traders only keep an eye on the possible profits and disregard the risk before investing. Therefore, the increase in the number of Bitcoin (BTC) addresses holding more than 100 Bitcoin to a seven-month high, at 16,271, could be considered as a bullish sign. Furthermore, the low search volume for the keyword “Bitcoin” suggests that the current rally lacks the frenzied retail buying seen during the previous bull market in 2017. PlanB, the creator of the …