Day: February 11, 2021

Is Bitcoin price about to hit $50K?

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Bitcoin’s (BTC) price broke through the crucial level at $40,500 as news of Tesla adding $1.5 billion in Bitcoin to their balance sheet. This news event pushed the price to new all-time highs, putting the next major resistance level at $50,000.  What’s more, other cryptocurrencies are accelerating left and right as the landscape is ideal for altcoins to start moving. All-time highs are being established daily across many altcoins while Bitcoin is consolidating. But how long will this consolidation last? Let’s take a look at the charts.  Bitcoin price breaks…

Bitcoin and Ethereum are Showing Signs of a New Bullish Run

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Major cryptocurrencies including Bitcoin and Ethereum were able to rebound after yesterday’s sell-off before the FED statement. US Treasury Secretary Janet Yellen on Wednesday warned of an “explosion of risk” in digital markets, including the misuse of cryptocurrencies, but said new financial technologies could also help fight crime and reduce inequality. “Cryptocurrencies and virtual assets were promising, but they were also used to launder the proceeds of online drug dealers and to finance terrorism. Innovation in the sector could help solve these problems by opening up access to the financial…

A $50K Bitcoin Possible as MasterCard, BNY Mellon Announces Crypto Integration

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Bitcoin edged higher on Thursday after traders realized MasterCard’s plans to integrate cryptocurrencies into its traditional payment services later this year. The credit card giant’s revelation came days after Tesla, a Fortune 500 carmaker, showed a $1.5 billion worth of Bitcoin in its balance sheets this Monday, further asserting that it would start accepting payments in the benchmark cryptocurrency for its products and services. Bitcoin prices jumped about 20 percent on the news. Traders reacted similarly to MasterCard’s announcement, pumping the Bitcoin price up by more than 3 percent on…

America’s oldest bank, BNY Mellon, will custody Bitcoin

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Bank of New York Mellon, America’s oldest bank, has announced plans to hold, transfer and issue Bitcoin (BTC) and other cryptocurrencies as an asset manager on behalf of its clients. The impetus for the decision reportedly came from institutional investors — the top brass of BNY Mellon’s clientele — amid the 2021 bull season for the asset class.  As the Wall Street Journal notes, BNY Mellon is hardly the first household name in traditional finance to embrace digital assets, the likes of Fidelity Investments have long been in the game.…

Bitcoin (BTC) has a 12% Chance of Exceeding $100k By End of 2021

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In brief: Bitcoin has a 12% chance of breaking $100k by the end of 2021 This forecast is based on data from current Bitcoin options contracts Elon Musk’s tweets on Bitcoin and Dogecoin could increase interest in owning the two digital assets Bitcoin looks set to retest $48k in the short term Bitcoin (BTC) has a 12% chance of closing 2021 at a value greater than $100k. This is according to options-based data provided by the team at Skew that also gave Bitcoin a 2% chance of breaking $100k by…

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Bitcoin Options Market Sees Low Odds of Sky-High Rally in 2021

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Bitcoin’s options market is assigning a low probability of prices rising above $100,000 this year despite widespread expectations for a meteoric rally in the wake of Tesla’s recent purchase of the top cryptocurrency.  At press time, the options market is pricing 12% odds of the cryptocurrency trading in seven figures before the end of December, according to data source Skew. The probability of a break above $70,000 is around 21%.  “With the extreme volatility of the past two months, the market isn’t showing a lot of conviction on how bitcoin…

Tesla’s $1.5B Bitcoin buy throws the cat amongst institutional pigeons

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Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price. Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. 11. “Elon Musk has exposed Tesla to immense mark-to-market risk,” wrote Garnry, adding that the main concern for investors was valuing Bitcoin’s worth over…

Ethereum Price & Technical Analysis

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The Ethereum has been correcting for two days already, but for now, this has little significance: the market remains unmistakably positive. On Thursday, February 11th, the ETH is trading at $1,726 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of ETH/USD. The ETH renewed its all-time highs alongside the BTC. The CME started trading ETH futures. On D1, the pair renewed its highs again. The MACD histogram remains above zero, giving another signal for growth. Meanwhile, the signal lines of the indicator keep growing, confirming further growth again. Judging…

Enterprise Blockchain Firm R3 Launches Confidential Business Computing Platform

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Enterprise software provider R3 has launched a new computing platform called Conclave which it says can handle sensitive business data while keeping it secret. According to a Thursday announcement, the Conclave platform will combine confidential computing with Intel Software Guard Extensions, which help protect data from modification. It also provides an API that allows clients to write applications on any operating system and code in their language of choice. “[Conclave] paves the way for a new generation of trusted services that can detect fraud, reduce cost, build high-value multi-party analytics and more –…