Bitcoin (BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure.Dubbed as Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at…
The price of bitcoin continues to climb higher as the crypto asset has captured over 19% in gains during the last seven days. Bitcoin tapped a daily high on Monday reaching $57,678 per unit, jumping 4.4% in the last 24 hours. Bitcoin Outperforms the Pack as Speculators Assume ETF Approval Is Coming It seems crypto investors are more attracted to…
There is nothing surprising about Senator Cynthia Lummis, a Wyoming Republican known to be among the staunchest crypto supporters in the U.S. legislature, revealing a sizable Bitcoin purchase that she had made earlier in the summer. It is still oddly satisfying to observe the alignment between a politician’s long-declared stance on an issue and corresponding monetary behavior (Lummis had been…
On October 6, Pantera Capital published an investor’s note written by Dan Morehead, the company’s CEO. Unlike the myriad of crypto investors who believe that a bitcoin exchange-traded fund (ETF) will send the crypto asset’s value to the moon, Morehead explains it could be a negative event and when it officially launches he said he “might want to take some…
Bitcoin (BTC) kept markets guessing into the Wall St. open on Oct. 11 after seeing rejection on hitting its highest since May.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price teases $58,000 February highData from Cointelegraph Markets Pro and TradingView showed BTC/USD tracking $57,000 after reaching $57,450 on Bitstamp — its best since May 10.In so doing, Bitcoin effectively fully cancelled out…
Bill Miller, a seasoned Wall Street investor and founder of Miller Value Partners, advocated for the rise of Bitcoin (BTC) during a recent conversation with author William Green, but voiced skepticism around many of the altcoins birthed during 2017.Miller subscribes to the well-documented thesis that Bitcoin portrays digital gold, and unlike many of his financial contemporaries — Warren Buffet being the…
The United States federal government’s default on its debt has been averted — at least for now. On Oct. 7, the Senate voted to increase the debt limit by $480 billion, a sum needed for the world’s biggest borrower to keep paying off its obligations until early December.The deal secured a temporary resolution for a weeks-long partisan standoff that had…
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Countries in the developing world will soon follow in the steps of El Salvador and make Bitcoin (BTC) legal tender, BitMEX CEO Alexander Höptner recently predicted.In an Oct. 6 blog post, Höptner expressed support for El Salvador adopting Bitcoin as legal tender in September, predicting that developing countries will be “leading the way” in Bitcoin adoption:“My prediction is that by the…
The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.” Gold’s Safe Haven Status In his remarks during an interview with the Gazeta Wroclawska newspaper, Glapinski explained…
