Bitcoin OTC desks buzz as analyst warns big players 'want your Bitcoin'
There's no shortage of demand for Bitcoin at current prices, but volatility to the downside is back on Friday. Bitcoin (BTC) is being aggressively bought up by institutional entities this week as data shows over-the-counter (OTC) trading volumes spiking.As noted by Dylan LeClair, co-founder of analytics and advisory firm 21st Paradigm, high net worth individuals have clear interest in Bitcoin at current prices.Investors ramp up BTC activityCiting data from on-chain monitoring resource Glassnode, LeClair eyed a sudden uptick in OTC activity just a BTC/USD hit local highs of $40,700.A....
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Digital currency markets have been gathering gains again moving past the lows seen a few weeks ago. This week crypto traders have been discussing over-the-counter (OTC) desks bubbling with demand for bitcoin as the co-founder of 21st Paradigm explained, “high net worth individuals [and] institutions want your bitcoin.” Analyst Says Big Market Players ‘Want Your Bitcoin’ Most traders either use decentralized exchange (dex) platforms or centralized exchange (cex) operations to acquire bitcoin (BTC) and a myriad of other digital currencies. However, high-net-worth....
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Like penny stocks traded on the NYSE or those on pink sheets, cryptocurrency is a prime target for pump and dump scams. For those with buying power, it's an easy way to get rich quick by inflating the price. For everyone else, nine out of ten times, you will lose. This is one of several reasons people are afraid to trust Bitcoin. For those of you who don't know how the pump and dump works, it's fairly straight forward. They are also illegal in the market, though federal agencies do not actively protect Bitcoin users. Pump and dump scams involve two groups of people. First there are the....
Bitcoin price is now over $13,550 and only a few hundred dollars away from setting a higher high and confirming a bull market. But also right around the corner, according to one top crypto analyst, is a “hell candle” in Bitcoin that will crush the cryptocurrency’s recent rally and potentially cause a reversal. Beware Of […]