Ricardo Salinas Pliego, the third richest man in Mexico, has 10 percent of his liquid portfolio is in Bitcoin. He is also recommending The Bitcoin Standard, a book by economist Saifedean Ammous, as per aย Twitter postย on Nov 18. Bitcoin is a Billionaireโs Paradise The Mexican businessman has a net worth of $11.8 billion according toย Forbes. He is the chair and founder of the Salinas Grupo, a group of companies with interests in telecommunication, media, banking, and financial services. Despite his close ties with Andres Manuel Lopez, the President of Mexico,…
Month: November 2020
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JPMorgan: Institutional Investors Pumping Money Into Bitcoin Over Gold
Smart institutional money prefers bitcoin to gold. Bullish on Bitcoin In a research note published on Friday, JPMorgan analysts noted that an increasing number of institutional investors, including family offices, are considering looking at bitcoin as a legitimate alternative to gold. According to the note, JPMorgan analysts found that through October, Grayscaleโs bitcoin trust witnessed strong cumulative inflows. At the same time, gold exchange-trade funds (ETFs) saw โmodest outflowsโ since October. The analysts said, โThis contrast lends support to the idea that some investors that previously invested in gold ETFs…
CME Bitcoin Market Is Trading in Bullish Ascending Triangle Pattern
Bitcoin has undergone a drop since peaking at $14,100 on Saturday. On Monday morning, the leading cryptocurrency fell as low as $13,200, marking a 6.5% drop from the highs. Bitcoin has since bounced to $13,700 as of this articleโs writing. While the cryptocurrency remains below the $14,000 technical resistance, analysts remain optimistic about the digital asset. One crypto-asset analyst recently noted that the CME futuresโ Bitcoin market is currently printing a bullish chart pattern. Should this pattern play out as it does in textbooks, the asset should move higher in…
Bitcoin Bounces $500 After 7% Correction: What’s Next for BTC?
On Monday morning, Bitcoin plunged lower despite a rally in the price of equities. The price of the leading cryptocurrency currently is $13,700, around $500 above the daily lows at approximately $13,200. Analysts are divided over what comes next for Bitcoin in the short term. Some think that the cryptocurrency is likely to continue its consolidation as there are some uncertainties in global markets that could drive further downward Bitcoin pressure. Related Reading: Hereโs Why Ethereumโs DeFi Market May Be Near A Bottom Bitcoin Bounces After Strong Correction After bottoming…
Ethereum Expected to Gain Further Strength as Price Taps $400
Ethereum has finally begun to push higher as Bitcoin has consolidated in the high-$13,000s. The price of the leading altcoin recently hit $400, the highest price in a number of days despite BTC pushing to new year-to-date highs. Ethereum currently trades slightly below $400 having undergone a slight retracement after tapping that pivotal technical level. In the past 24 hours, ETH is up 3%, making it one of the best performing digital assets in the top 20 by market capitalization. Analysts think that the cryptocurrency could move even higher in…
Should History Repeat, the Bitcoin Price Is About to Go Parabolic
Bitcoin has undergone a 25% rally over the past two weeks as buying pressure in the digital asset market has heated up. The leading cryptocurrency currently trades for $13,800, far above the $9,800 lows seen in September. Analysts think that Bitcoin has room to extend to the upside in the months ahead. One crypto-asset chartist shared a chart on November 1st indicating that a pivotal macro technical indicator shows Bitcoin may soon go parabolic. Related Reading: Hereโs Why Ethereumโs DeFi Market May Be Near A Bottom Bitcoin Could Soon Go…
The True Bitcoin Breakout Hasn’t Even Happened Yet, Volatility Shows
Bitcoin has undergone a massive rally over the past two weeks. From the lows set after the news broke regarding OKEx, the leading cryptocurrency has surged higher by almost 25%. As of this articleโs writing, Bitcoin trades for $13,800. Despite this rapid move to the upside, not all analysts are convinced that the true Bitcoin breakout has taken place. Thatโs to say, Bitcoin could soon see even more explosive movement. Related Reading: Hereโs Why Ethereumโs DeFi Market May Be Near A Bottom Bitcoin Hasnโt Even Seen Its True Breakout Yet…