While you're undoubtedly "in it for the technology," the most popular and hotly-debated topic, particularly as far as public interest is concerned, remains the price of Bitcoin (BTC) and speculating on its value in the future. Currently, Bitcoin is in a bull market cycle, up over 200% year-to-date and outperforming everything else in 2020 with the exception of a few stocks like Tesla. But this rally seems different than the one in late 2017. For one, the all-time high has been definitively broken. Second, institutions are accumulating — while the public still sits largely on the sidelines. “We are in …

XRP has been showing massive weakness as the cryptocurrency is being sued by the SEC. Its price tumbled significantly from $0.65 to $0.21 in four days, a crash of 67%. Meanwhile, other altcoins also corrected significantly in the past 24 hours as investors probably fear that XRP may not be the only coin on the SEC's radar. Ether (ETH) dropped by 14% on Dec. 24 and then bounced at $550. While Chainlink corrected 38% toward a recent low of $8. Sushiswap (SUSHI) saw the largest correction and flash crash dropping from $2.75 to $1.10 — a crash of 61%. So …

Bitcoin (BTC) price has been on a tear in recent months, leading to a new all-time high at $24,200. However, BTC saw a correction on Dec. 21 as the equity markets also opened in the red. Bitcoin’s price dropped by 6% on Monday, while the U.S. dollar currency index (DXY) saw a strong bounce. Such drops and uncertainty appear to be due to the reported emergence of a mutated coronavirus strain in the United Kingdom and, therefore, more restrictions on the horizon, which could have a big impact on the markets, as seen in March. Bearish divergence playing out for …

When the price of an asset hits a new all-time high, momentum traders plow in as they sense an opportunity to ride the trade higher. The same was seen after Bitcoin (BTC) price broke above the $20,000 mark on Dec. 16. By Dec. 19, the price had hit an intraday high at $24,197.46, a 21% rally in four days. These sharp moves in Bitcoin price attract traders who use derivatives to try and amplify their gains or hedge their existing positions by buying downside protection. This resulted in the open interest on Bitcoin options hitting a new all-time high at …

Bitcoin (BTC) price has seen a massive rally in previous months, accelerating from $10,000 to a recent all-time high of around $23,700. This is a rally of 135% in just a matter of a few months. It’s speculative to discuss where the price of Bitcoin could run from here. However, certain levels must be held for this rally to continue. Additionally, several indicators can be useful for analyzing the charts and anticipating potential areas of interest in price discovery. Continuation is likely to $25,800 if this level holds The daily chart for Bitcoin shows a massive breakout above $19,500. This …

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 …

With Bitcoin (BTC) largely in the spotlight after hitting a new all-time high of nearly $24,000, other projects are starting to ride BTC's coattails as well. One of the latest standouts is Elrond (EGLD), which is up 20% over the past 24 hours and nearing its all-time high. The current highs above $27 is an increase of over 200% in December and more than 1,500% year-to-date, marking an extremely bullish year for this project. Elrond becomes ninth crypto project listed on eToroX Elrond’s recent run isn’t based on technicals only, as the self-pronounced internet-scale blockchain was listed on eToroX as …

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 …

Ether (ETH) has followed the breakout above $20,000 for Bitcoin (BTC) on Dec. 16, boosted by some big news from the Chicago Mercantile Exchange (CME). The CME just announced that it will be launching Ether futures in 2021. "Based on increasing client demand and robust growth in our Bitcoin futures and options markets, we believe the addition of Ether futures will provide our clients with a valuable tool to trade and hedge this growing cryptocurrency," said Tim McCourt, CME Group global head of equity index and alternative investment products. "Ethereum is the second-largest cryptocurrency by both market capitalization and daily …

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 …

XRP is another cryptocurrency that has been doing well alongside Bitcoin (BTC) in the past few months. However, its price has been slumping lately, dropping below $0.50 on Dec. 14, or down nearly 15% over the past two days. On higher time frames, the price of XRP broke upward from $0.20 in the summer, reaching a temporary top at $0.80 a few months later, a rally of close to 300%, making it one of the biggest moves this year. There were several reasons for the massive breakout. One of them was the Flare Network airdrop, which took place on Dec. …

December is proving to be another blockbuster month for Bitcoin as the flow of institutional investors injecting funds into Bitcoin continues to increase. Business intelligence firm MicroStrategy announced that it had raised $650 million worth of convertible bonds at a rate of 0.75% due in 2025. The company now plans to invest the net proceeds in Bitcoin after identifying its “working capital needs and other general corporate purposes.” When institutional investors show such a large appetite to buy Bitcoin (BTC) near the all-time high, it is no surprise that the corrections have been shallow. Tyler Winklevoss said in a recent …