With only two full days of trading under its belt, the first Bitcoin (BTC) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher. According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by Canadian firm Purpose Investments is likely to hit $1 billion in assets under management by Feb. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million between the time when it was first listed on the Toronto Stock Exchange, or TSX, on Feb. 18 and …

Crypto expert Bobby Lee's early predictions on the price of Bitcoin have proven to be quite accurate during the latest bull run. In a tweet from December 2018, the Ballet crypto wallet CEO and founder said that the next Bitcoin (BTC) rally would start in late 2020, take off in early 2021, and follow with a peak in December. The recent bull run which started last year has seen the price of the crypto asset pass its previous all-time high price of $20,000 in December and $30,000 the following month. "Back [in 2018], Bitcoin was under $10,000 — no one …

The man who once said "Bitcoin will never hit 50K" has doubled down on the bearish prediction that Bitcoin (BTC) will eventually go to zero. Back in 2019, CNBC host Joe Kernen speculated that Bitcoin's price would reach $55,000 by May 2020. Peter Schiff mocked him at the time, saying "Bitcoin will never hit 50k." Though somewhat delayed, the price of Bitcoin hit a new all-time high of more than $50,000 this morning after rising 8% this week. Members of Crypto Twitter — including the gold bug's own son — threw Schiff’s words back at him. In the wake of …

Major U.S. investment bank JPMorgan Chase will eventually have to get involved in Bitcoin (BTC), co-president Daniel Pinto believes. The executive told CNBC Friday that JPMorgan’s decision to introduce Bitcoin services would depend on the client demand to trade Bitcoin. Although the current demand is not strong enough, Pinto is confident that it could grow further: “If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved [...] The demand isn’t there yet, but I’m sure it will be at some point.” Pinto’s latest remarks follow …

Bitcoin (BTC) could reach almost $400,000 this bull cycle simply by copying previous behavior, one popular analyst has said. In a tweet on Feb. 4, Yassine Elmandjra, cryptoasset analyst at asset manager ARK, revealed just how early on in its current bull run BTC/USD really is. BTC price to $400,000? Compared to 2013 and 2017, the 2020-21 cycle is barely off the start line, with a hypothetical chart suggesting that the top this time around could be as high as $390,000. “This is how bitcoin’s price would behave if the current bull market dwarfed the 2017 bull market in the …

Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com. Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely reach a $60,000 level in the first half of 2021. According to Cohen, Bitcoin’s growth in 2021 will be fueled by support from institutional investors combined with the “flush of ultra-cheap money being pumped into the global financial system” by global central banks like the United States’ Federal Reserve: “After a record-breaking year in 2020 that saw it jump more than 300%, Bitcoin looks …

A senior executive at financial services firm Guggenheim Partners — which is planning to seek investment exposure to Bitcoin (BTC) — has argued that BTC is poised to drop to $20,000. Scott Minerd, Guggenheim’s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell. After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd said: “I think for the time being, we probably put in the top for bitcoin for the next year or so. And we're likely …

A new report from advisory firm Aite Group, that was commissioned by exchange platform eToro, reveals there are still barriers hindering institutional adoption of crypto. Based on interviews with 25 institutional market participants, the report states the crypto market could reach a $2 trillion market capitalization if more institutional players were to get on board amid more favorable conditions. These firms would be more likely to adopt crypto if there was less regulatory uncertainty, a developed market infrastructure, and less risk surrounding security. “2020 was the year when many institutional investors such as banks and traditional asset managers began to …

After hitting a new all-time high, the price of Ether (ETH) could potentially head to $10,500, according to a strategist at major market research company Fundstrat Global Advisors. Fundstrat strategist David Grider commented on ETH hitting new historical records of about $1,430 in an investor note on Tuesday, Bloomberg reported. Grider said that the second-largest cryptocurrency could climb more than sevenfold to $10,500 after setting a new record. The strategist reportedly said that Ether is now “the best risk/reward investment play in crypto,” emphasizing that the Ethereum blockchain is the biggest foundation for decentralized finance, or DeFi, applications. “Blockchain computing …

Anatoly Aksakov, a member of the Russian State Duma, has reiterated his negative stance on Bitcoin (BTC) shortly after the cryptocurrency briefly retouched $40,000 on Jan. 14. In an interview with local news agency TASS, Aksakov argued that Bitcoin is not backed by anything and thus the Bitcoin bubble is poised to burst sooner or later: “Bitcoin is not backed by anything as a cryptocurrency. This is a private currency, and its value is based on trust of the related data system. In this context Bitcoin provides a basis for a bubble on the crypto market, and I think this …

Dan Morehead, founder and CEO of Bitcoin (BTC) investment firm Pantera Capital, has maintained his bullish Bitcoin prediction for 2021. Bitcoin is poised to hit as much as $115,000 by August 2021, surging 200% in the next eight months, Morehead reportedly said at a conference call on Jan. 12. The exec initially made this prediction in August 2020, when Bitcoin was trading at about $11,600. At publishing time, the cryptocurrency is trading at over $38,000. On Tuesday, Morehead said that Bitcoin still has lots of room for growth: “Is bitcoin overvalued? I would say no. [...] Bitcoin has spent three …

The Bitcoin bull run may have slowed since the price retreated from $42,000 last week, but the pace of absurd crypto stories appears to have sped up. Just like we saw in 2017, when a bull run gets going, life in the crypto gets increasingly weird. Maybe that's because retail is finally here, with social media interest in Bitcoin hitting an all-time high last week. The result is a hilarious combination of noobs trying to understand crypto amid crazy memes, influencers doling out terrible advice, and faded celebs shilling Bitcoin for bucks. Dogecoin up 163% and listed on three new …