Day: December 3, 2020

Top 10 Cryptocurrencies To BUY In November 2020!!! (XRP Ripple, Ethereum, & Bitcoin News)

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Institutions rushing into $19K Bitcoin as GBTC premium hits 6-month high

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The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000. The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through OTC markets. Accredited and institutional investors typically use the trust to obtain exposure to BTC with their brokerage accounts. Why is the Grayscale Bitcoin Trust premium rising? The Grayscale Bitcoin Trust is the go-to institutional vehicle in the U.S.…

Peter Schiff Ratifies BTC and Gold Future Success against Depreciating US Dollar

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Both Bitcoin and Gold market value has significantly increased during the pandemic. Popular market analysts and investors led by Peter Schiff unanimously agree that Bitcoin (BTC) and Gold stand a better chance of thriving as the global reserve currency, the US dollar, depreciates to yearly lows. Both BTC and Gold market value have significantly increased during the pandemic, whereby the latter has reached a new all-time high while the former is retesting its ATH. Their correlation with the United States dollar has been deduced both from statistical figures and also…

Canada could launch CBDC sooner than expected, central bank exec says

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Timothy Lane, Deputy Governor of the Bank of Canada and head of research at the bank’s fintech and crypto department, claimed that Canada’s central bank digital currency, or CBDC, might see the light of the day “sooner than expected. Lane delivered his remarks in a Dec. 1 interview on the Bank of Canada’s approach to digital payment systems. According to Lane, the predicted decline in COVID-19-fueled cash transactions has been happening more rapidly than the bank had previously expected. This could trigger the bank to issue a CBDC sooner that…

First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K

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Bitcoin was rising back toward the all-time high price of $19,920 notched earlier this week.  “So far, prices remain constrained, either with sellers unwilling to part with their coins at any lower price or buyers unwilling to take further bets on a rally,” Matt Blom, head of sales and trading at the cryptocurrency-focused financial firm Diginex, wrote Thursday.  In traditional markets, European shares slid and U.S. stock futures pointed to a lower open after coronavirus-related fatalities in the country surged Wednesday to at least 2,760, the deadliest day since the pandemic began. Gold…

Bitcoin’s Price Is a Poor Proxy for Its Utility

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I have looked on with interest over the past two months as bitcoin has climbed to approach its previous all-time high. That old high-water mark occurred in the midst of hysteria. The price action of the time, three years ago, can only be described as mania. It was, to use the Gartner Hype Cycle language, the “Peak of Inflated Expectations.” In financial terms, it was a bubble. This rally is different. This time has not been marked by a wild influx of speculative investors. We have not seen the long-tail…

Ethereum Price & Technical Analysis: ETH Consolidating But Looking Great

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After growing actively at the beginning of the week, the leading altcoin stabilized near 590.00 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of ETH/USD Ethereum launched phase zero of the 2.0 network On W1, the ETH/USD pair has formed a correction of the uptrend. It is trading at 38.2% Fibo. In the case this level is broken away, the price will head for the next level of 50.0%. The MACD histogram has remained above zero for several weeks already, which promises the uptrend will soon resume. The signal…

Ripple Relocation Out of US on Hold, Firm Looks to Favorable Biden Presidency

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Ripple has oftentimes been embroiled in a regulatory impasse with US authorities particularly the Securities and Exchange Commission (SEC) as it relates with the XRP coin which is closely associated with the company. Ripple relocation plans for its headquarters out of the United States of America on grounds of regulatory uncertainty may have to wait much longer, at least until Biden’s presidency is underway and the company’s fate is decided by different officials. According to an exclusive report from Coindesk, Ripple’s Chief Executive Officer, Brad Garlinghouse in an interview with CNN’s Julia…

Bitcoin Tilts Higher as Pelosi Signals Stimulus Bill by Year’s End

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Bitcoin posted modest gains on Thursday as Democratic leaders signaled to reach an agreement with Republicans to pass the second round of COVID-19 stimulus by year’s end. House Speaker Nanci Pelosi (D-Califonia) said on Wednesday that a new bipartisan $908 billion relief package should serve as the basis of their months of negotiations with White House and GOP leaders. “Of course, we and others will offer improvements,” Mrs. Pelosi said in a joint statement with Senator Chuck Schumer. “But the need to act is immediate and we believe that with…