Manuel Andersch, senior FX analyst at the Bayerische Landesbank has published a report, which suggests that the “forthcoming halving effect has hardly been priced into the current Bitcoin (BTC) price.” Using a stock-to-flow ratio metric, the report projects a target price of $90,000 for Bitcoin in 2020. Though there were great expectations for the launch of Bakkt, it turned out to be a dud. A new report by Binance research suggests that the disappointing trading volume on Bakkt might have triggered the recent fall in Bitcoin. Chicago Mercantile Exchange (CME) Group has said that they do not have any plans …

Various cryptocurrency operators have joined hands to launch a rating system that will define how close a digital asset resembles a security. On a scale of one to five, one will be awarded to cryptocurrencies that are least characteristic of a security, whereas five will have the most similarities to a security. This rating system will provide clarity to asset managers who have stayed away due to the uncertain legal status of the cryptocurrencies. When sentiment turns bearish, many negative voices can be heard. Mark Cuban has reiterated his negative stance on Bitcoin (BTC) and has said that he would …

When Bitcoin (BTC) rallies sharply it does not leave a chance to buy. Traders then regret missing the bus. They promise themselves that they will buy on the next dip. However, when the prices correct, fear grips the traders and they again miss pulling the trigger. While there will be many reasons for a fall, unless the basic fundamental reason changes, traders should continue to look for buying opportunities. CEO & chief investment officer of Morgan Creek Capital Management Mark Yusko believes that investors should use the fall in Bitcoin to buy because the fundamentals have been improving over the …

The total cryptocurrency market capitalization had repeatedly taken support close to the $250 billion mark since mid-July of this year. However, the recent collapse in crypto markets led by Bitcoin (BTC) has broken the support and market capitalization has dipped to just under $220 billion. It is difficult to pinpoint the exact reason that started the fall. A few speculators might have built up positions expecting the prices to surge following the launch of Bakkt. However, when that did not play out, they started closing their trades in a hurry. As a result, important support levels cracked and the rest …

The long-awaited launch of Bakkt has seen a lukewarm response as only 63 Bitcoin (BTC) contracts have been traded as of press time. This is not unexpected because Bitcoin has been range-bound for the past few weeks, hence, institutional traders will not be in a hurry to initiate positions. They are likely to wait and watch for a few days and then jump in. Bakkt CEO Kelly Loeffler said that the launch of Bakkt will instill “trust through regulation and secure custody.” As the institutional players warm up to Bakkt, we anticipate volatility to pick up in the next few …

Though Bitcoin’s (BTC) price action has largely been lackluster in the past few days, it could change with the launch of Bakkt. Fundstrat Global Advisors co-founder Tom Lee is positive on “Bakkt and its ability to improve trust with institutions to crypto.” The crypto markets have been waiting for institutional interest to fuel the next leg of the up-move and Bakkt is an important step in that direction. To maintain its advantage, the Chicago Mercantile Exchange (CME) Group plans to introduce options on Bitcoin futures in the first quarter of 2020, if it gets the necessary regulatory approvals. Tim McCourt …

The Chicago Board Options Exchange has withdrawn its application for the VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). However, VanEck’s director of digital asset strategies Gabor Gurbacs stated that they will continue to work with regulators to bring “a physical, liquid and insured ETF” to the market. Bitcoin had a muted reaction to this news, which is a positive sign. Blackstone CEO Steve Schwarzman said that blockchain technology is good and will be adopted. However, he was not supportive of the idea of using blockchain technology for generating money. While crypto enthusiasts like the decentralized nature of cryptocurrencies, Schwarzman was against …

Many central banks across the world are racing against each other to devalue their currencies. Crypto fund executive Travis Kling believes that Bitcoin (BTC) is a great hedge against irresponsible monetary and fiscal policies of central banks and governments. Tim Draper has said that his target price of $250,000 for Bitcoin is conservative because at that price, the leading cryptocurrency will have only about 5% market share of the currency world, which may be understating the importance and power of Bitcoin. He said that, as the adoption of Bitcoin among the masses increases, the price will skyrocket higher. In the …

The trade war between the United States and China has stoked fears of a recession. According to a survey by eToro, if a recession occurs, 40% of millennials would prefer to invest in crypto. However, Generation Z and Generation X investors are not convinced by crypto as they have chosen real estate and commodities as their preferred mode of investment. Gold Bullion International co-founder Dan Tapiero believes that Bitcoin (BTC) is “an invention.” He alluded to the decade-long record of the leading digital currency and said that if a company were to develop such a secure network framework, it would …

Preparations for the launch of Bitcoin (BTC) futures on Bakkt are on track. While market participants were excited before the launch of CME group’s futures trading at the end of 2017, the current launch is being approached with caution. Bitcoin’s volatility continues to drop, which shows that both bulls and bears are not taking large directional bets. Bitcoin’s dominance, that had risen above 71% in the past week is showing signs of cooling down. It has currently dropped below 70%. This implies that, for a few days, the action might shift to altcoins. However, this period of low volatility is …

Jennifer Bailey, the vice president of Apple’s payments service, Apple Pay, said that the company was watching cryptocurrencies closely as they believe it has long-term potential. The company claims that Apple pay processes about one billion transactions every month. With such a wide reach, Apple’s move to crypto, similar to Facebook, will be a huge positive as it will attract a large number of retail and institutional investors alike. It is not only large organizations that are taking the crypto plunge. The second largest economy in the world has also made it clear that it wants to launch its digital …

Asset managers VanEck and SolidX plan to offer a limited version of their Bitcoin (BTC) exchange-traded funds (ETFs) to qualified institutional buyers. While the wait for retail investors continues, institutional players might get an opportunity to buy the shares starting on Sept. 5. This is a positive development because a strong demand from institutional players might help in expediting approval for a full-fledged Bitcoin ETF for retail investors. The uncertainty of the trade war between the United States and China, endless money printing and negative yields around the world are all driving institutional investors toward safe haven assets, one of …