Christopher Wood, the global head of equity strategy at Jefferies, has dumped five percent of their physical gold position in order to buy Bitcoin (BTC). This move shows that a growing number of institutional investors consider Bitcoin to be at par or a better store of value than gold. Wood also said that if Bitcoin were to have a big correction, he would buy more. The fact that institutional investors are content purchasing in the $16,000 to $20,000 range suggests that institutional investors are not worried about a pullback as they view it as an opportunity to accumulate for the …

Litecoin (LTC) and Dogecoin (DOGE) are rallying strongly as Bitcoin (BTC) fights to stay above $23,800. Many analysts say the surge in large-cap altcoins is directly connected to Bitcoin's price action and historical data shows the two tend to move in tandem when BTC goes through bull and bear cycles. As altcoins begin to show signs of newfound momentum, traders are becoming even more confident in the strength of BTC’s trend. Throughout December, altcoins stagnated against Bitcoin, particularly as BTC struggled to break out of the $18,000 to $19,400 range but this was in an environment plagued by low volume. …

Crypto traders and investors received an early Christmas gift today as Bitcoin (BTC) price cleared the $20,000 psychological milestone for the first time in history. Today's breakout is equally significant as it serves to heal the scars of the traders who may have bought right at the top in 2017 and held their positions until now. The current uptrend in Bitcoin has been all about institutional adoption. The latest institutional investor to have announced a position in Bitcoin is the United Kingdom-based investment manager Ruffer Investment Company Limited. As has been the case with most institutional purchases this year, Ruffer …

Strategists at JPMorgan said in a note that MassMutual’s $100 million Bitcoin (BTC) purchase shows that insurance firms and pension funds are now adopting Bitcoin. According to the analysts, typically this class of institutional investors is conservative in their style of investing so the recent allocation is quite significant. However, the strategists said that even if the pension funds and the insurance companies in the U.S., Japan, the U.K., and the Euro area keep 1% of their assets in Bitcoin, that could amount to an additional inflow of about $600 billion into Bitcoin. These investments by institutions may have increased …

Bitcoin (BTC) price has been gradually giving up ground for the past few days and that has a few investors afraid that a sharp correction or a bear market similar to the one in 2018 could occur again. However, there are major differences between the previous bull market and the current one. The most notable difference is the arrival of institutional investors. The latest institution to have taken a position in Bitcoin is Massachusetts-based insurance firm MassMutual, which recently purchased 5,470 BTC for roughly $100 million. To date, a variety of institutional players ranging from hedge fund managers to publicly …

In a recent Reddit “Ask Me Anything” session, billionaire Ray Dalio warned investors that the current astronomical pace of money printing is unlikely to stop in the near future and holding wealth in cash could lead to losses. Dalio said that Bitcoin (BTC) “could serve as a diversifier to gold and other such storehold of wealth assets.” A new report from CoinShares shows that the transition from gold to crypto products may have already started. The report highlights outflows of $9.2 billion from gold investment products and inflows of $1.4 billion into crypto products during the same period. Interestingly, along …

Recent news reports suggest that U.S. lawmakers may announce a new round of economic stimulus worth about $908 billion before the end of today. This second package, if announced, will add to the existing debt pile and may send the U.S. dollar index (DXY) lower. The index is already trading near its lowest level since April 2018. The slow economic recovery, expansionary monetary policy, overvalued stocks and negative bond yields are some of the reasons that have forced investors to search for alternative assets to safeguard their portfolios. Gold has been one of the favorite safe-haven assets of investors for …

A few years back, Bitcoin’s (BTC) price was controlled by whales as the crypto market lacked depth and was relatively illiquid. If whales were selling in unison, no one wanted to venture out and buy. Similarly, the whale’s concerted buying easily boosted prices higher. However, that is not the case anymore. With the arrival of institutional investors, it appears that the whales are gradually losing their ability to influence BT price. According to on-chain data, Grayscale Investments purchased about twice the number of Bitcoin mined in November. The steady inflow of institutional funds has boosted Grayscale’s Bitcoin Assets Under Management …

Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble. For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close to $50 per ounce was made in 1980, and the price came close to that level only in …

Bitcoin (BTC) price came within striking distance of hitting a new all-time high today. This shows that institutional and retail investors continue to buy on every dip and BTC is in a strong uptrend. Hence, traders should not urgently looking to call a top. While Bitcoin has been creating new records, gold has corrected about 15% from its all-time high. This shows that traders are dumping their positions and this led to the largest weekly outflow in gold. Analysts believe that some of the money flowing out of gold could enter Bitcoin as institutional interest continues to soar. A new …

Bitcoin’s (BTC) rise above $20,000 will have to wait, as the price saw a strong correction and turned away from reaching a new all-time high. Data suggests that whales decided to book profits when Bitcoin was close to $19,000, and this pulled the price lower. This fall could have resulted in the liquidation of overleveraged positions in the futures market and further aggravated the decline. The current correction is a healthy sign, as the crypto market was becoming overheated as several altcoins rallied vertically in the past week. While some altcoins have given back a large portion of their recent …

The crypto market has been in a strong bull run over the past few days, and that has pushed Bitcoin (BTC) to its second-best day ever. Almost every trader now seems to be fixated on the magical figure of $20,000 per BTC. After such a sharp up-move, some traders are calling for a top, while others are projecting lofty targets for the future. CNBC Fast Money host Brian Kelly, for example, believes that the recent volitile moves in altcoins, overpriced Bitcoin address growth, and rising funding rates pointing to the arrival of retail traders may be a warning sign of …