Category: News

Bearish Divergence Hints At First Major Chainlink Corrective Phase

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Chainlink was among the first cryptocurrency to set a new all-time high in 2020, but given its absence during the 2017 peak was facing different circumstances and no overhead resistance. The altcoin was nearly unaffected entirely by the bear market over the last couple of years, breaking record after record. However, a massive bearish divergence has formed as the unstoppable cryptocurrency touches an ascending trendline for the third time. Could this be the start of the altcoin’s first extended bear phase? Or are bulls preparing a much stronger push to…

JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios – Markets and Prices Bitcoin News

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JP Morgan has outlined three key reasons why investors should add bitcoin to their investment portfolios. Small allocations to cryptocurrencies would “improve portfolio efficiency due to high returns and moderate correlations,” JPMorgan’s analyst explained. JP Morgan Sees Benefits of Hedging With Bitcoin JPMorgan released a report last week entitled “What cryptocurrencies have and haven’t done for multi-asset portfolios.” Published by the firm’s head of Cross-Asset Strategy division, John Normand, the report explores cryptocurrencies’ use for portfolio diversification. Firstly, the report acknowledges that “Bitcoin has already achieved the fastest-ever price appreciation…

3 reasons why Ethereum price is still on track to top $2,000

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After dropping 27% over three days, Ether (ETH) price finally reached a bottom at $1,040 on Jan. 22.  The sharp correction liquidated $600 billion worth of future contracts but interestingly, Ether price rebounded to a new all-time high even as Bitcoin price continues to trade in a slight downtrend. According to Cointelegraph, the increasing TVL and transaction volumes of the decentralized finance sector are behind Ether’s impressive surge. ETH/USD 4-hour chart. Source: TradingView To determine whether the recent pump reflects a potential local top, we’ll take a closer look at…

Cathie Wood: More Tech Companies Will Adopt Bitcoin Treasury Reserves

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ARK Investment Management CEO Cathie Wood said she believes more companies will load their balance sheets up with bitcoin. In a Saturday interview with Yahoo Finance, the exchange traded fund (ETF) magnate and outspoken bitcoin advocate said large companies have asked her if they should follow Square. Inc’s lead. Square is one of the few public companies to invest in bitcoin as an inflation hedging strategy. “I think we’re going to hear about more companies putting this hedge on their balance sheet,” she said, “particularly tech companies who understand the…

Driving to the moon? HODLer installs portable mining rig in BMW

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Crypto enthusiast Simon Byrne has taken crypto mining out of the garage and onto the road after installing a small farm in the trunk of his car. According to a report from Hardware Times, Byrne purchased a BMV i8 hybrid vehicle retailing for roughly $150,000 and equipped it with a small crypto mining rig consisting of six GeForce RTX 3080 graphics cards. The rig is powered by an ASUS B250 Mining Expert board and an EVGA SuperNOVA 1600 T2 power supply. It is reportedly capable of mining both Bitcoin (BTC)…

Market Wrap: Bitcoin Hits $34.8K While Ether Volatility Skyrockets

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Some bitcoin investors appear to be buying in around $30,000 and taking profits at $40,000, according to one analyst. Meanwhile, ether’s spot market is decoupling from bitcoin and gyrating wildly, according to volatility metrics. Bitcoin (BTC) trading around $32,963 as of 21:15 UTC (4:15 p.m. ET). Gaining 3.5% over the previous 24 hours. Bitcoin’s 24-hour range: $31,650-$34,893 (CoinDesk 20) BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Jan. 22.Source: TradingView The price of bitcoin…

Alexey Navalny Sees Surge in Bitcoin Donations After Arrest

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The standoff between Russia President Vladimir Putin and his main opponent, Alexey Navalny, rose to a new level last week – and so did bitcoin donations to the dissident. Navalny, a Russian politician and vocal critic of Putin, is also a successful bitcoin fundraiser in Russia, receiving 657 BTC in donations over the past five years. The pace of donations accelerated last week, after Navalny was arrested in Moscow and his team published an investigative report describing an over-the-top, luxurious, 168-acre estate with a palace that presumably belongs to Putin.…

Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources

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Some of the largest university endowment funds in the U.S. have been quietly buying cryptocurrency for the past year or so through accounts held at Coinbase and other exchanges, CoinDesk has learned. According to two sources familiar with the situation, Harvard, Yale, Brown and the University of Michigan as well as several other colleges have been buying crypto directly on exchanges. (Several Ivy League endowments took an interest in blockchain technology via crypto-focused venture capital funds back in 2018.) “There are quite a few,” said a source who asked to…

Ethereum Likely to Tag $2,000 in Near-Term as Rally Turns Parabolic

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Ethereum saw a meteoric rally yesterday that allowed it to post some massive gains, with bulls taking full control as they sent it to fresh all-time highs The crypto is still struggling to gain enough support to hold above its previous all-time highs of $1,450, with the selling pressure above this level being significant It is now seeing some consolidation just below this level as Bitcoin begins soaring higher There’s a strong possibility that Bitcoin’s strength will eventually create further tailwinds for ETH One analyst is noting that a daily…