As some industry executives have questioned Bitcoin (BTC) as being the digital gold amid a massive market crash on Thursday, other experts continued to support the digital gold narrative for now, or until whale investors like MicroStrategy cash out. Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, took to Twitter on Thursday to report that his platform has not observed any “significant on-chain activities” as of 11:00 AM UTC. Institutional investors who bought Bitcoin via on-chain transactions seem to have not sold their holdings yet, Ju wrote, adding that “institutions running algorithmic trading bots think BTC is …

Bitcoin (BTC) may yet reenter the $20,000 zone, but the coming weeks could provide a solid buying opportunity, a new report forecasts. In its latest market update on Feb. 24, trading platform Decentrader laid out the final areas of support between the current Bitcoin spot price and $20,000. Analyst eyes BTC 20-week and 200-week MA for cues Military action by Russia in Ukraine has markets in a spin Thursday, with stocks and crypto following a firm downtrend as uncertainty grips Asia, Europe and the United States alike. Bitcoin has already lost 12% in under 24 hours, and expectations are that …

Bitcoin (BTC) fell to fresh lows on Feb. 22 as the aftermath of Russia's expected incursion into Ukraine triggered more market woes. Gold comes to the rescue as Bitcoin wavers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $36,400 on Bitstamp overnight Tuesday, its lowest since Feb. 3. Volatility had been high as Russian president Vladimir Putin delivered a speech lasting almost an hour on the state of the conflict in Ukraine. Putin had ended by recognizing the two breakaway republics in the country's east, subsequently ordering Russian troops into what is still officially Ukrainian territory. Stocks and …

A potential decoupling scenario between Bitcoin (BTC) and the Nasdaq Composite can push BTC price to reach $100,000 within 24 months, according to Tuur Demeester, founder of Adamant Capital. Bitcoin outperforms tech stocks Demeester depicted Bitcoin's growing market valuation against the tech-heavy U.S. stock market index, highlighting its ability to break out every time after a period of strong consolidation. "It may do so again within the coming 24 months," he wrote, citing the attached chart below. BTC's price has grown from a mere $0.06 to as high as $69,000 more than a decade after its introduction to the market, …

Amid Bitcoin (BTC) posting a significant price recovery since early February, JPMorgan analysts suggested that the “fair value” of BTC is actually lower than its market price on Tuesday. The current fair-value level for BTC is around $38,000, JPMorgan strategists said in the bank’s latest investor note published on Tuesday. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the strategists estimated the “fair value” based on Bitcoin being nearly four times as volatile as gold. The “fair value” of Bitcoin would rise to $50,000 in a scenario where the volatility level narrows to three times, the strategists suggested, adding: “The …

Japanese trading house Mitsui is reportedly planning to issue a cryptocurrency pegged to gold, local news agency Nikkei Asia reported Friday. Called ZipangCoin (ZPG), Mitsui’s new digital currency will reportedly be issued as early as February and will be available to retail investors through cryptocurrency exchanges. The stablecoin will be linked to gold prices at yen-denominated prices by Mitsui from the London Metal Exchange, with one ZPG valued equivalent to one gram of gold and guaranteed by Sumitomo Mitsui Banking. According to the report, the new gold stablecoin will be initially offered through Mitsui’s proprietary crypto exchange and later made …

The “solid gold cube” crypto promo that surfaced in New York this week has turned out to be hollow on the inside, with onlookers online lampooning the stunt as an appropriate critique of the extravagant promises of crypto and blockchain tech. On Feb. 2, Artnet reported that a 24-carat 410 pound gold cube worth $11.7 million had been placed in Central Park surrounded by a “heavy security detail” as part of a promo for German artist Niclas Castello’s crypto project dubbed Castello Coin (CAST). New in NYC: A cube made from $11.7 million worth of solid gold is sitting in …

A painful retracement in the Bitcoin (BTC) market earlier this week sent the price below $40,000 for the first time since September 2021. Many analysts predicted the decline to continue toward the $30,000 to $35,000 range, but the price reclaimed $40,000 as support again and on Wednesday BTC made an abrupt move above $44,000. This rekindled hopes that the $40,000 level is perhaps where Bitcoin may bottom out before continuing its move higher in 2022. Jurrien Timmer, the director of global macro at Fidelity Investments, called $40,000 a "pivotal support," noting that Bitcoin has become "technically oversold" near the level, …

Investor Bill Miller is bullish on Bitcoin (BTC) despite the cryptocurrency touching multi-month lows below $40,000 in early January 2022. Miller no longer considers himself just a “Bitcoin observer” but rather a real Bitcoin bull, as he said in a WealthTrack interview last Friday. The billionaire investor now holds 50% of his net worth in Bitcoin and related investments in major industry firms like Michael Saylor’s MicroStrategy and BTC mining firm Stronghold Digital Mining. An early Amazon investor, Miller owns almost 100% of the rest of his portfolio in Amazon, he noted. Miller bought his first Bitcoin back in 2014 …

Hedge fund manager Ray Dalio remains bullish on Bitcoin (BTC) in 2022, listing three primary reasons why Bitcoin is “impressive.” In a recent interview with The Investors Podcast, he talked up gold and BTC as an inflation hedge. When prompted by interviewer William Green about what a sensible allocation for a layperson would be, Ray Dalio said that he agrees with fellow billionaire Bill Miller’s suggestion that 1% to 2% is the right allocation. He explained that the network has never been hacked, it has no better competitor and BTC adoption rates would suggest that it could further chip away …

Bitcoin (BTC) failed to close 2021 above the long-expected $100,000 level, but experts believe the psychological horizon is still achievable by taking gold's market share, albeit over a more extended period. In a note released to investors on Tuesday, Goldman Sachs co-head of global FX and EM strategy Zach Pandl hypothesized that if the largest cryptocurrency could overtake 50% of the store of value market share over the next five years, BTC price would increase to just over $100,000, marking a compound annualized return of 18%. While the current market cap of BTC is close to $884 billion, Goldman Sachs …

Bitcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor. Gold’s performance was “disappointing” in 2021, Wharton School’s finance professor Jeremy Siegel said in a CNBC Squawk Box last Friday. On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued: “Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold. Digital coins are the new gold for the millennials. I think that the story of gold is a …