Roughly 42% of the total Bitcoin supply has not moved in the past two years. This shows that the investors are holding on to their Bitcoin as they expect the price to rally further. Lesser quantity of Bitcoin in circulation increases scarcity and with the upcoming halving, the supply is only going to decrease further, which could boost prices. The creator of the stock-to-flow Bitcoin price model PlanB believes that “Bitcoin will probably go over $100k before Dec 2021.” While PlanB is banking on halving to boost prices, Max Keiser of The Keiser Report, expects the financial markets to tumble …

Grayscale Investments managing director Michael Sonnenschein said that “Bitcoin itself has solidified its role as a store of value or as a digital gold.” In his conversations with institutional investors, Sonnenschein explained that he has seen a big change in the way they view Bitcoin. According to him, now, several institutional investors are looking to add cryptocurrency to their portfolio, which was not the case just 12 to 18 months ago. In a report, KPMG has said that institutional players are concerned about the lack of proper custody for cryptocurrencies. Co-lead of KPMG’s crypto asset services Sal Ternullo said : …

After the rout last week, most asset classes have started the week with a rebound. The total crypto market capitalization has bounced from the recent lows of about $240.7 billion to $251 billion at press time. The strength of the rebound will confirm whether a bottom is in place or if this is a dead cat bounce after which the down move will resume. With the recent fall in Bitcoin, the price action has been exactly following the popular stock-to-flow Bitcoin price forecasting model designed by PlanB. He expects the price to average about $8,650 until Bitcoin’s halving in May. …

Recently, the chairman of Virgin Galactic Chamath Palihapitiya said that “everybody should probably have 1% of their assets in Bitcoin,” as it is “an uncorrelated hedge” to the excesses in the financial industry. He did not approve of the strategy to buy Bitcoin only when the equity markets are down. Instead, he said that investors should keep a long-term view on Bitcoin and consider it as “insurance”. Fundstrat’s Tom Lee said that blockchain and crypto will disrupt the financial industry over the next twenty years. For the short-term, Lee retained his bullish stance on Bitcoin. He said: “I think there’s …

The equity markets sold off sharply on Feb. 24 and 25. Even gold, a traditional safe-haven has stalled its rally. On similar lines, cryptocurrencies are also witnessing a period of correction. The total crypto market capitalization has dropped from about $308 billion on Feb. 15 to $248 billion at press time, which is a fall of about 19.50%. For an investor, this is a normal and healthy correction, which can provide an opportunity to buy or add to existing positions. In an interview with CNBC, billionaire investor Tim Draper said that he has shifted his money out of stocks and …

The global equity markets are reeling under pressure as the coronavirus outbreak has spread outside China. While gold, the traditional safe haven, has been moving higher, Bitcoin has largely remained range-bound. This again puts focus on the frequently discussed perspective that Bitcoin is a completely uncorrelated to traditional markets. Sometimes it rallies with the equity markets and other times with gold but during certain occasions, such as now, it moves to its own beat. In other news, Tron founder Justin Sun paid a record $4.6 million in a charity auction to have a meal with legendary investor Warren Buffet. However, …

After numerous big companies exited Facebook’s Libra project and several regulators voiced their concerns, news about the project had taken a back seat. However, this week, the Libra Association announced that E-commerce giant Shopify had joined the network. The Libra Foundation said that Shopify, an online marketplace hosting more than one million merchants, would be an “incredible partner in making widespread economic participation a reality.” Several central banks have said that Libra forced them to consider launching a central bank digital currency (CBDC). While a few nations have initiated pilot projects to experiment with digital currency, others like China have …

Binance CEO Changpeng Zhao believes that the upcoming Bitcoin halving has not been priced in to the digital asset’s current price action. The reduction in miner rewards will increase the cost of mining each Bitcoin, meaning, miners are unlikely to sell below their cost of production. Bitcoin’s supply will decrease with the halving but its demand has also been increasing, creating a situation where prices are likely to driven higher. Although CZ’s statement can be interpreted as bullish, the CEO personally believes that Bitcoin’s price might gravitate around $10,000 levels for a few more days as round numbers are known …

Eurekahedge's index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space. Coinbase is now a Visa principal member, the first crypto pure-play company to receive the membership. This will help the company to offer more features and services to its customers of Coinbase …

After Bitcoin (BTC) scaled above $10,000 the mood among market participants turned hugely bullish. Daily talks of the asset making new highs blanketed crypto Twitter and this bullish sentiment also rubbed off on altcoins which picked up momentum and rallied sharply in the past few days. As the week approached a close it was clear that the crypto market was looking overheated in the short-term as greed gripped the market participants. Such a situation usually results in a sharp pullback that scares the weak hands away. Led by Bitcoin, the crypto markets have slipped sharply in the past two days. …

Bitcoin dropped below the psychologically important level of $10,000 on Feb. 15. This has dragged the crypto markets lower, whose market capitalization has dropped below $300 billion. Though Bitcoin has declined, its market dominance has risen from below 61% on Feb. 15 to 62.5%. This shows that altcoins have fallen more than Bitcoin. Serial venture capitalist Mike Novogratz believes that Bitcoin is likely to rise to its lifetime highs in 2020. He said that Bitcoin was the “best new brand of the past eleven years” and had found its lane as a store of value. Novogratz felt that Bitcoin was …

Bitcoin (BTC) has fallen below its landmark $10,000 price point after failing to break $10,500 resistance, mimicking a similar $300 drop earlier this week. Crypto market 1-day price chart. Source: Coin360 Bitcoin drops to $9,800s Coin360 and Cointelegraph Markets data show Bitcoin has fallen below the $10,000 big-even, to a press time price of $9,884. “Good response by the bulls but 10k needs reclaiming,” commented Cointelegraph Markets contributor filbfilb in his Telegram channel after BTC price initially rebounded back over the $10,000 mark. He continued: “We bounced off the 20 DMA, which is meant to act as support, but there …