The sharp correction in Bitcoin (BTC) may have shaken out many leveraged traders, but the data shows whales and institutions aggressively purchased the dip and now bulls have shown they are determined to push Bitcoin price back above $40,000. The total crypto market capitalization has also recovered and surged back above $1 trillion. Pantera Capital founder and CEO Dan Morehead said he stands by his earlier prediction of $115,000 for Bitcoin by August of this year. Morehead believes China's digital yuan developments may boost crypto adoption and prove to be a bullish trigger. Several altcoins have also turned positive and …

Bitcoin’s (BTC) price saw a significant 28% correction during the week from $41,000 to $30,000. At the same time, Ether (ETH) also saw a drop of 32%. The recent high for ETH/USD was $1,350 — or about $70 shy of the all-time high — while the recent low was seen at $910. January has seen heavy volatility in the crypto markets. The sentiment has been flipping from euphoria to depression and back again. However, the market is still in a bull market even if another correction occurs. In that regard, it’s just a matter of time until a new all-time …

Bitcoin price has been accelerating massively in recent months, with Bitcoin (BTC) rallying from $10,000 to $41,500. This rally went vertical without any major corrections in between. However, every upward cycle has its standard 30% corrections, which can even be considered healthy for more upside. Bitcoin’s price started to fall south in the past days as it dropped 25% to $30,000. This dropdown was also influenced by the U.S. dollar’s sudden surge, which might be bottomed out in the short term. Bitcoin price flips bearish on lower time frames A trend reversal starts with lower time frames flipping bearish, and …

During an interview with Bloomberg, Grayscale CEO Michael Sonnenshein said that in addition to hedge funds, pension funds and endowments had also started investing in the Grayscale family of products. This suggests that a broad spectrum of institutions are accumulating Bitcoin (BTC). As this trend gathers speed, investment banks have also decided that they do not want to be left behind. A recent filing from Morgan Stanley shows a purchase of a 10.9% stake in business intelligence firm MicroStrategy, a move that was likely made in order to gain exposure in Bitcoin. With 70,470 Bitcoin in their possession, MicroStrategy has …

XRP holders are still struggling around the $0.30 area while the majority of the cryptocurrency markets are euphoric with Bitcoin (BTC) price surpassing $40,000. BTC price is currently over 100% higher than the previous all-time high in 2017, while XRP’s price is still down more than 90% from the all-time high in 2017. A lawsuit from the SEC against Ripple is certainly not bullish and is the primary reason for this overall weakness as this is prompting some exchanges to delist. However, the chart might give some potential bullish outlook for the short term period if XRP’s price breaks several …

The strength of Bitcoin's (BTC) uptrend appears to be growing, as the top-ranked digital asset soared above $40,000 earlier today. It's probably safe to say that many investors are completely astounded by the fact that BTC has doubled its value only a month after breaking through the $20,000 mark. This suggests that the buying has continued unabated, signaling strong demand at every higher level. This bullish sentiment has pulled several altcoins higher, with the total crypto market capitalization extending $1 trillion. As most altcoins have only recently started participating in the rally, they may run up vertically in the short …

Bitcoin (BTC) is currently approaching $40,000 after seeing massive gains in the first seven days of 2021. This is a 100% move up from the previous all-time high in December 2017. In other words, the price levels it took Bitcoin three years to recoup have now nearly doubled in a matter of weeks. Meanwhile, the price of Ether (ETH) has surged by more than 100% in three weeks. However, it has yet to break its all-time high of roughly $1,420 set on Jan. 13, 2018. Therefore, the primary question is whether altcoins will underperform, keep pace or outperform BTC in …

Bitcoin price may have taken a temporary breather but the sharp correction below $30,000 did little to dismay the bullish sentiment of crypto market participants. The CME Bitcoin futures market reached an all-time high volume at $2.7 billion on Jan. 4 and the same day, LMAX Digital also achieved a record-high at $2.62 billion in traded volume. This huge surge in trading activity suggests institutional investors are continuing to invest in Bitcoin (BTC). Due to institutional adoption, analysts believe that Bitcoin could rally as high as $100,000 in 2021. However, JPMorgan Chase analysts led by Nikolaos Panigirtzoglou have a slightly …

Bitcoin (BTC) had a tremendous 2020 as BTC price rallied by 311%. In the shadows of Bitcoin, Ether (ETH) also saw a fantastic year as Ether’s price rallied by an even bigger 475%. While only five days into the new year, ETH is continuing this trend. Bitcoin breaking new all-time highs above $30,000 has sparked a massive rally fire that is now spilling over to altcoins. However, the question now is whether the bull run will continue vertically, as it did in the past few months, or whether a short-term correction should be expected. Such a correction would open the …

Bitcoin (BTC) has consistently been hitting new all-time highs over the weekend, but the latest surge has also created a new high against gold, according to MarketWatch data. This suggests that Bitcoin has been gaining acceptance as the new store of value and that may attract more customers away from gold into Bitcoin. Analysts suggest that the latest rally above $30,000 could have been triggered by aggressive buying from institutional investors on Coinbase, as suggested by the large premium of about $350 compared to the price in Binance. With the latest rally, Bitcoin hit a market capitalization of over $640 …

The supply and demand equation determines the price of an asset. In the past few months, the uptick in institutional demand for Bitcoin (BTC) has resulted in a strong bull run. This uptrend may continue until demand exceeds supply. On-chain data shows two withdrawals of more than 12,000 Bitcoin each from Coinbase Pro this week, which is just short of the 28,000 Bitcoin mined in November. This suggests that demand from institutional investors remains intact even after Bitcoin’s recent rally because they are bullish in the long term. Meanwhile, Mexico’s second richest man, Ricardo Salinas Pliego, said in an interview …

The year 2020 was a forgettable one for many reasons including lockdowns and economic restrictions. The shutdowns resulted in the worst economic crisis seen in decades. At the same time, most governments and central banks have responded with unprecedented fiscal stimulus and monetary expansion measures to revive their economies. Therefore, institutional investors who are wary of potential inflation — and possibly even hyperinflation — as a result, are scrambling to hedge their portfolios with assets that can protect them from gradual currency depreciation. Until now, gold was considered the best store of wealth, and it has not disappointed investors as …