Bitcoin is a New Institutional Investment Class

Twitter Facebook LinkedIn There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In the report titled “Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought…

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Bitcoin Price Intraday Analysis: BTC/USD Recovers amid Vulnerability

Twitter Facebook Bitcoin on Thursday is trending inside a narrow trading channel, sustaining the 1 percent gain it made the previous day. The BTC/USD instrument is rebounding from the highs made during the Wednesday trading session, now 0.67 percent down at 6307-fiat. The high ticks in bitcoin’s volume index somewhat explain how new money has entered the bitcoin space in the past 24 hours. On the other hand, the US Dollar Index was on a downside corrective path on Wednesday, validating investors’ inclination towards redistributing their greenbacks back to markets…

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Bitcoin Bear Market Could Last 18 More Months: BitMEX CEO

Twitter Facebook Bitcoin prices and trading volume might keep plummeting, and the current bear market could last another 18 months. That’s the sobering assessment of Arthur Hayes, the CEO of the Bitcoin Mercantile Exchange (BitMEX), the world’s largest bitcoin derivatives trading platform. “My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness,” Hayes told Yahoo Finance. “I’m just basing it off my previous experience.” Hayes started trading crypto full-time in 2013 after losing his job as an equities trader at Citibank.…

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Bitcoin Bull Tom Lee ‘Pleasantly Surprised’ by Drop in Crypto Volatility

Twitter Facebook Over the past several weeks, the bitcoin price has been uncharacteristically stable, even as equities have lost their footing and the global stock market has flirted with corrective territory. Tom Lee, the founder of Fundstrat Global Advisors and one of Wall Street’s most well-known bitcoin bulls, said that he was pleasantly surprised by the drop in crypto volatility, particularly when juxtaposed with the stock market’s recent swings. He told CNBC: “It’s surprising given how small bitcoin is in terms of market cap. The total crypto market cap is…

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Bitcoin Price Could Hold $6,300 For Another Month Due to Low Volume

Twitter Facebook Over the last 24 hours, Bitcoin has slightly recovered from $6,230 to $6,260, unable to breakout of the $6,300 mark. Throughout the upcoming days, if Bitcoin fails to stabilize in the $6,300 to $6,400 range, the price of BTC is at risk of dropping to the lower region of $6,000 and possibly below the $6,000 mark. Major cryptocurrencies like Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH) have prevented extended losses below their low price range. But, ETH still remains below $200 and BCH is still at $416,…

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Bitcoin Price Intraday Analysis: BTC/USD Expecting More Losses

Twitter Facebook Bitcoin on Tuesday remained calmer compared to the action noted at the beginning of this week. The bitcoin-to-dollar exchange rate moved sideways above its newfound support at 6212-fiat as volume dipped once again. The pair is now more than a percent down from its yesterday’s high at 6288-fiat, trading at 6211-fiat at this moment. The sideways action is not yielding any intraday opportunity but is further intensifying the current bearish bias. There is a lack of upside correction sentiment in the bitcoin market. One could expect the BTC/USD…

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Bitcoin Price Intraday Analysis: BTC/USD Breaks Stability, Falls

Twitter Facebook The downside pressure renewed in the bitcoin market after two weeks of firm action. The bitcoin-to-dollar exchange rate on Monday dropped by more than 3 percent, breaking below the critical support level near 6300-fiat. The pair formed intraday lows on a downtrend towards 6212-fiat, only to find a weak bullish sentiment. The price has corrected ever since and is showing signs of weak sideways consolidation. A pennant formation is likely at this moment before BTC/USD continues to its downward action. The US Dollar Index (DXY) looks bullish at…

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Bitcoin Reaches October 2017 Volume as ETH, XRP, and BCH Fall 4%

Twitter Facebook Over the last 24 hours, the volume of Bitcoin has increased by yet another 10 percent from $3.5 billion to around $3.8 billion. On October 28, the volume of Bitcoin increased by around 20 percent from $3.1 billion to $3.5 billion, showing strong and sustainable momentum in the lower region of $6,000 for the first time since mid-September. Still Low Volume, But What Happened in November? As cryptocurrency investor and technical analyst Hsaka recently stated, the volume of Bitcoin has declined to the October 2017 level. Trading activity…

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Bitcoin Doesn’t Move as Market Continues Stability, Volume Rises 20%

Twitter Facebook Over the past 24 hours, the cryptocurrency market has demonstrated the same trend it has shown throughout the past 12 days, with Bitcoin at $6,400. The volume of Bitcoin has increased by nearly 20 percent from $3.1 billion to $3.5 billion, hinting a rise in trading activity in the cryptocurrency exchange market across major digital asset trading platforms. The sudden rise in the volume of Bitcoin, which has been stagnant since mid-October, could lead to a potential short-term positive movement on the upside in the days to come.…

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if Crypto “Remains” Illegal, Adoption Will be Difficult

Twitter Facebook At Bloomberg Ideas, an event that features leading experts in various industries, George Mason University economics professor Tyler Cowen stated that if crypto remains illegal, adoption will be difficult to achieve. “If crypto stays illegal, it will be ghettoized, and that will make it harder for it to spread ultimately.” However, in major markets including the US, Japan, South Korea, Singapore, Switzerland, and the UK, the usage and trading of cryptocurrencies are legal, with sufficient regulatory frameworks in place to protect investors in the global digital asset exchange…

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