Bitcoin Long-Term Holders & Price Top: Glassnode Reveals Pattern

The on-chain analytics firm Glassnode has explained that Bitcoin tends to reach a potential top when the long-term holders show this pattern. Bitcoin Long-Term Holders Have Been Ramping Up Distribution In a new report, Glassnode discussed the influence that the BTC long-term holders have on the cryptocurrency’s supply dynamics. The “long-term holders” (LTHs) here refer to the Bitcoin investors who have been holding onto their coins for more than 155 days. The LTHs comprise one of the two main divisions of the BTC user base based on holding time, with…

Bitcoin Price Turns Red Below $64K But Long-Term Uptrend Intact

Bitcoin price extended its decline below the $65,000 support. BTC is now struggling to stay above the $62,000 support zone and might test $60,000. Bitcoin price is moving lower below the $64,000 support zone. The price is trading below $63,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent upward move if it clears the $65,200 resistance zone in the near term.…

‘Not a Store of Value’ — Vanguard CEO Labels Bitcoin Too Speculative for Long-Term Portfolios

After the U.S. investment advisor Vanguard chose not to offer spot bitcoin exchange-traded funds (ETFs), its CEO Tim Buckley, in a recent discussion, described bitcoin as a speculative asset, unfit for inclusion in long-term investment portfolios. Vanguard’s CEO Confirms: No Change in Bitcoin ETF Policy, Cites Speculation Concerns Reaffirming Vanguard’s perspective on bitcoin during a […] Original

ETFs have brought more short-term volatility to bitcoin but may help long-term

A big selling point of bitcoin exchange-trade funds was their potential to reduce bitcoin’s notorious volatility over time. But what’s happened so far is that big swings are back in the world of cryptocurrency. Just look at last week. Bitcoin climbed to an all-time high —its first record in more than two years — only to quickly fall by as much as 10% before bouncing back up to yet another new record. The bitcoin 30-day historical volatility index has been sitting at its highest levels in 11 months as leverage…

Glassnode Insights Into Long-Term Bitcoin Holders Reveal 228% Average Unrealized Gain

An in-depth examination conducted by the onchain analytics firm Glassnode, alongside the researcher Cryptovizart, has shed light on bitcoin’s unexpected rise to record-breaking highs just before the halving occurrence, unveiling key aspects of market behavior. Glassnode Report Sheds Light on ETF Net Inflows and Long-Term Bitcoin Holder Gains In its analysis, Glassnode emphasizes the notable […] Original

Mogo Takes a Further Leap Into BTC, Eyes Long-Term Gains With $5M Bitcoin Reserve Investment

In a statement released on March 7, the Canadian fintech entity Mogo disclosed its strategy to diversify its portfolio by investing in bitcoin and bitcoin exchange-traded funds (ETFs), earmarking an initial outlay of as much as $5 million. Canadian Fintech Mogo Dives Deeper Into Bitcoin The publicly traded Canadian enterprise Mogo (Nasdaq: MOGO) (TSX: MOGO) […] Original

Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000

In the last day, Bitcoin (BTC) has notched up minor gains to the tune of 0.7%, pushing its market price above the $42,000 mark. Investors in the world’s leading cryptocurrency are likely encouraged by this recent price gain, following the 20% price decline that trailed the highly anticipated approval of the Bitcoin spot ETFs earlier in January.  Amidst many speculations on BTC’s next movement, popular crypto analyst Michaël van de Poppe has released a prediction that indicates Bitcoin’s movement may be restricted for the coming months. Albeit, he projects a…

Bitcoin looks to be long-term hedge against inflation

The SEC’s nod to Bitcoin ETFs offers a new financial avenue against the backdrop of soaring U.S. national debt. The recent approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) marks a pivotal moment for cryptocurrencies in the United States. Avik, an analyst for Forbes, articulates that Americans can now purchase Bitcoin as a hedge against a potentially weakening U.S. dollar, which is under strain from the escalating federal debt. The SEC’s decision ensures the longevity of this alternative financial instrument. According to @truflation. US year on year…

My Long-Term Investment Case for Bitcoin

The solution in such a scenario, however, is simple. You need a neutral and mutually trusted asset in between. Gold could serve this role, and has done so historically, but it is inconvenient and expensive to send gold around physically. Oil could also be used, but is not divisible enough and is expensive to store and protect. Lastly, one could imagine small neutral countries like Switzerland acting as intermediaries, but they are likely to come under too much pressure from the larger centers of power. Bitcoin, however, is in many…