Cryptocurrency exchange Coinbase says bitcoin dips are likely to be “more aggressively bought compared to previous cycles, even as volatility persists during price discovery.” The crypto firm noted that the impact of U.S. spot bitcoin exchange-traded funds (ETFs) and the larger inflow of institutional demand can be seen in the open interest of bitcoin futures.…
Read more
Veteran trader Peter Brandt has highlighted a bitcoin price pattern that frequently appeared in past major bull runs. “It is the Hump …Slump …Pump… Dump [HSPD] that keeps a bull trend healthy,” he explained, emphasizing: “Study past major bull runs in bitcoin and you will discover they were replete with HSPDs.” Bitcoin Bull Runs and…
Read more
Former Bitmex CEO Arthur Hayes has predicted that bitcoin will find a support level between $30,000 and $35,000. He contends that the ongoing bitcoin selloff is not due to outflows from Grayscale’s bitcoin trust (GBTC). “That argument is bogus,” he claimed, adding that bitcoin’s price movement is “anticipating the Bank Term Funding Program (BTFP) will…
Read more
Asset management firm Devere Group says that 82% of millionaires surveyed have asked their financial advisors about adding cryptocurrencies, such as bitcoin, to their portfolios despite the crypto winter. “Wealthy investors understand that digital currencies are the future of money, and they don’t want to be left in the past,” the firm’s chief executive said.…
Read more
Veteran investor and fund manager Bill Miller explains why he thinks that it is currently “very bullish for bitcoin.” Miller noted that Russia has almost 50% of its reserves in currencies that are controlled by people who want to do them harm. Bill Miller’s Crypto Outlook: ‘It’s Very Bullish for Bitcoin’ Famed value investor Bill…
Read more
The Nasdaq-listed company Microstrategy sees “evidence of a lot more institutional adoption” of bitcoin. The firm cited various reasons including “The circumstances and the currency volatility” in Turkey, South America, and Africa — “all of these things have elevated institutional awareness of bitcoin.” Microstrategy Outlines Future Outlook for Bitcoin The Nasdaq-listed software company Microstrategy discussed…
Read more
Genesis Trading’s head of market insights says that the institutional investment growth in the crypto space over the last 12 months “has been astonishing.” The executive added: “We’re seeing strong signs of that accelerating over the next year.” Strong Signs of Institutional Investment Growth Accelerating Next Year Noelle Acheson, head of market insights at Genesis…
Read more
Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.”
Cryptocurrencies Poised to Thrive, Bull Market Revived
Commodity strategist Mike McGlone discussed his price predictions for bitcoin…
Read more
