Everyone On Wall Street Thinks Everyone Else On Wall Street Is Long Bitcoin… But Almost None Are

Everyone On Wall Street Thinks Everyone Else On Wall Street Is Long Bitcoin… But Almost None Are

Once upon a time the Bank of America Fund Manager Survey served a useful indicator of what finance professionals did and thought. Then, over the years, it became a survey which revealed what the prevailing consensus narrative was  – if not what respondents actually did – as survey participants merely answered question in line with what they thought was the right […]

Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month’s End

Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month’s End

Bitcoin’s recovery from Monday’s low is gathering pace, with the options market pricing in a double-digit probability of an above $50,000 by the month-end. The leading cryptocurrency by market value is currently trading at $38,300, representing a nearly $4,000 or 11% gain on a 24-hour basis, according to CoinDesk 20 data. The price bounce has erased […]

Multiple Tokens See Rally Amid Looming ‘Alt Season’

Multiple Tokens See Rally Amid Looming ‘Alt Season’

Bitcoin and ether may be pulling back from their all-time highs but alternative cryptos are starting to see action. As prices for bitcoin and ether retreat from their recent highs, the strong performance of other cryptocurrencies indicate traders and investors may now be turning to alternative coins (altcoins) for potential high returns. Data compiled by […]

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend. Over the last 24 hours, the cryptocurrency declined by more than $8,000 to $32,400, an over-20% fall from levels over $40,800 late on Sunday (UTC). The cryptocurrency was last seen changing hands up slightly near $35,380 – still […]

Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise

Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise

Bitcoin has shed much of the weekend’s stellar gains, as relatively cheap alternative cryptocurrencies play catchup with the crypto market leader. At the press-time price of around $29,000, bitcoin (BTC, -5.03%) is down over 13% on a 24-hour basis, according to CoinDesk 20 data. Prices have declined by well over $4,000 in the last two hours, having reached a […]

Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple

Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple

Coinbase said it will suspend trading of XRP, the cryptocurrency behind the U.S. Securities and Exchange Commission lawsuit against Ripple Labs last week claiming it is really a security. Coinbase first listed XRP on its retail-facing platforms in February 2019. Starting now, XRP trading “will move into limit only,” Coinbase wrote. It will be fully suspended on Tuesday, Jan. 19, 2021, […]

Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering

Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering

Coinbase is getting ready to go public. On Thursday, the major cryptocurrency exchange filed preliminary documents with the U.S. Securities and Exchange Commission (SEC). Coinbase has been the subject of IPO speculation for months. But the timing, coming just one day after bitcoin (BTC, +7.77%) broke $20,000 for the first time ever, cannot be ignored. The major exchange […]

Guggenheim’s Scott Minerd Says Bitcoin Should Be Worth $400,000

Guggenheim’s Scott Minerd Says Bitcoin Should Be Worth $400,000

As Bitcoin surges to record highs, Scott Minerd of Guggenheim Investments believes the world’s largest cryptocurrency’s fair value still has a ways to go. Bitcoin’s scarcity combined with “rampant money printing” by the Federal Reserve mean the digital token should eventually climb to about $400,000, Minerd, the firm’s chief investment officer, said in an interview. […]