Institutions Keep Buying Bitcoin’s Dip, Despite Near-term Volatility: Data
Institutions and "whales" have continued their bitcoin purchases, on-chain data shows.
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Bitcoin will still have notable value fluctuations, but it's out of bubble territory, according to Michael Wu. A number of entities have called Bitcoin (BTC) a bubble since its inception roughly 12 years ago. Michael Wu, CEO of digital asset financial services outfit Amber Group, thinks otherwise, however. “I think it’s always like this when people come into a new paradigm shift,” Wu said in a CNBC interview on Thursday, referring to the concept of Bitcoin as a bubble. “People start with doubts, with skepticism — it’s very natural because they will have to take time to understand what’s....
The likelihood of such a scenario is tenuous but not impossible. Famous for its volatility, Bitcoin’s price constantly waffles both north and south. While it recovered quickly from its pandemic-induced drop in March 2020, going on to break record highs, that doesn't mean the asset is bulletproof against a similar event in the future. The director of business development for smart chain platform Komodo, Jason Brown, recently weighed in on what could possibly cause another COVID-19-style price decline for Bitcoin (BTC).“I think such a scenario is unlikely given the current uptrend in....
CME Group’s recent announcement that it will launch ether (ETH) futures on Feb. 8, 2021, is the “writing on the wall” that institutions will being buying the cryptocurrency next year, according to a pair of tweets by Ryan Watkins, an analyst at crypto data provider Messari.
Bitcoin’s price action has been quite mixed as of late, with buyers and sellers both vying for control over the cryptocurrency’s trend Over a mid-term time frame, bulls are clearly in control and are showing no signs of letting up to bears anytime soon Where the market trends in the mid-term will likely depend on […]
Bitcoin price has posted all-time high today and that may pull select altcoins higher. Bitcoin (BTC) is gradually gaining ground on gold, the traditional store of value. Data shows that one ounce of gold can only buy 0.0352 Bitcoin as of Feb. 17, the lowest amount of BTC eve. This shows that Bitcoin has been rewarding its investors much more than gold. Bitcoin has massively outperformed gold over various time frames. Even if the latest one-year data is considered, Bitcoin’s risk-adjusted return is 270% while gold's is only 24% as of Dec. 28, 2020. The result further skews hugely in favor....