For some reason, Bitcoin (BTC) analysts never take the middle path. They either project that the price will go to the moon or warn of imminent doom. After surviving and thriving for over a decade and being one of the best assets to own during the current crisis, any doubts about its longevity should be put to rest. On the other hand, for the top-ranked cryptocurrency on CoinMarketCap to replicate the previous bull run, it would first need to break out to new lifetime highs. There are several intermittent resistances between the current levels and the lifetime highs that need …

While retail traders fret over whether Bitcoin (BTC) will break above $10,000 or not, the institutional players silently continue to build positions. On May 19 major digital asset management fund Grayscale tweeted that its assets under management had increased over 80% from $2.1 billion to $3.8 billion over the period of one year. This suggests that institutional money is gradually flowing into cryptocurrencies. The majority of the investment was done in Bitcoin, the top-ranked cryptocurrency on CoinMarketCap. Usually, institutional investors take a long-term view and are not perturbed by the short-term swings. Daily cryptocurrency market performance. Source: Coin360 Similarly, the …

Several economies around the globe are lifting lockdown restrictions that have been in place for the past few weeks. This will enable businesses to gradually get back on track and investors are also closely watching the various coronavirus vaccines that are in developmental stages. Any positive news on this front is likely to boost sentiment. As the globe is flush with liquidity, any improvement in sentiment could drive traders into risky assets in order to generate strong returns to make up for this year’s losses. Bitcoin (BTC) has done exceedingly well during the crisis, which is likely to attract the …

A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could be giving a signal that this time is different. This week CME Bitcoin options open interest increased to about $142 million, an increase of over 1000% since the end of April, according to data from Skew. This shows that the …

History suggests that Bitcoin (BTC) halvings have led to massive bull runs. After the first halving in November 2012, the top-ranked cryptocurrency on CoinMarketCap surged 10,000% from late 2012 to 2014. The second halving that took place in July 2016 produced a rally of about 2,500% from mid-2016 to Dec. 2017. On May 11, Bitcoin completed its third halving and the expectations are for another huge up move. Other than history, current fundamental factors are setting the stage for a huge rally in Bitcoin’s future. The world is currently in the midst of a financial crisis due to the coronavirus …

Billionaire hedge fund manager Paul Tudor Jones has added Bitcoin (BTC) to his portfolio. In a letter to his clients, Jones said that the top-ranked cryptocurrency on CoinMarketCap was likely to play a similar role to the one that was played by gold in the 1970s. Jones added that Bitcoin was the fastest horse, hence, he was placing a bet on it. This move could attract other hedge fund managers to cryptocurrencies as they look to hedge their portfolios against the incessant money printing by the Federal Reserve. Bitcoin’s recent rally above $10,000 is a major sentiment booster. The dominance …

Pantera Capital Founder and CEO Dan Morehead is bullish on Bitcoin (BTC) due to the upcoming halving as he believes that “if the new supply of Bitcoin is cut in half, all else being equal, the price should rise”. If history were to repeat itself, Morehead expects the top-ranked cryptocurrency on CoinMarketCap to rally to $115,212 by August 2021. The CEO also said that gold might be losing its luster but he does not expect the yellow metal to vanish overnight. Bloomberg’s senior commodity strategist Mike McGlone said that in traditional commodity markets, higher prices are an incentive for the …

Jefferies Greed & Fear email written by Christopher Wood recommends both retail and institutional investors buy Bitcoin (BTC) ahead of the upcoming halving which is less than eight days away. They anticipate that a rally after the event will be similar to the previous two halvings. Jefferies recommends that investors use Bitcoin to diversify their portfolio, similar to gold. However, forecasting a rally post halving just because the top-ranked cryptocurrency on CoinMarketCap has done so previously might not play out as expected. During the previous two halvings, the main participants were early crypto adopters but that is not the case …

The total crypto market capitalization has jumped from about $198 billion on April 22 to over $263 billion on April 30. This 32% rally in roughly eight days shows that investor sentiment is bullish. While this is a positive sign, the problem is that most people expect a repeat of the previous bull run. But with coronavirus still not reigned in, investors are likely to sway between extreme optimism and pessimism. Therefore, any up move is likely to have its share of sharp pullbacks. Crypto pioneer Charlie Shrem painted a bullish picture for Bitcoin (BTC) due to the upcoming halving …

The Bitcoin (BTC) whales have not been perturbed by the sharp rallies or the waterfall declines in Bitcoin in the past three years. As Cointelegraph recently reported, some major whales have not moved their Bitcoin holdings for an average period of 4.7 years. This suggests that the early adopters are in for the long game and they believe that the best is yet to come. The creator of the popular stock-to-flow (S2F) model Plan B has updated his model. This has led to a revision in the forecast of Bitcoin from $100,000 to $288,000 for the period between 2020 and …

Crypto traders seem to be approaching the Bitcoin halving without any fanfare. Bitcoin’s (BTC) price action has been marginally positive in the past few days but it has only recently overcome the sharp crash of March 12. When the markets approach an important event without the overhang of huge expectations, it does not have to worry about disappointment and large-scale liquidation of positions. This could turn out to be in favor of the bulls. According to the Crypto Fear & Greed Index, trader’s sentiment that had remained in the “extreme fear” zone for seven weeks has improved to fear. As …

Many crypto analysts have criticized the whitepaper for Binance’s forthcoming ‘Smart Chain’, which was published on April 17. Smart Chain will be Binance’s second smart contract-enabled chain after Binance Chain. It offers the additions of full compatibility with Ethereum (ETH) and a delegated proof-of-stake, or DPoS, governance system with 21 node operators elected by Binance Coin (BNB) holders. ‘Binance Smart Chain’ garners luke-warm reception The whitepaper for Binance’s forthcoming Smart Chain received mixed reactions. Many in the crypto community posit that the chain will recycle the features of existing projects without bringing anything new to the crypto asset ecosystem. On …