How long before a BTC ETF?

How long before a BTC ETF?

How long before a BTC ETF? For the investor, crypto currencies are an emerging asset class. They are not securities and so are not regulated. This poses a risk since, without regulatory oversight, crypto currencies can be manipulated. A crypto currency ETF would call for regulatory frameworks that protect investors while also providing exposure to the digital assets in a transparent and accountable way.  Of the several crypto currencies that are candidates for an ETF, Bitcoin is perhaps the most likely though crypto currencies ETFs, when they are eventually launched,…

Zeus Capital Reportedly Offers Influencers 5 BTC for LINK FUD

Zeus Capital is reportedly offering prominent members of Crypto Twitter payment to spread unfavourable news about Chainlink, which hit a new record high price recently. Zeus Capital came to prominence recently after releasing a report claiming LINK was a scam and then heavily promoting negative news about Chainlink via Twitter ads. It has since called upon users to join a class-action lawsuit against CEO Sergey Nazarov. According to a screenshot posted to Twitter by ‘The Wolf of All Streets’ Scott Melker on July 29, Zeus Capital reached out to him…

More Ether Holders Are in Profit Than There Are BTC Addresses in Total

With Ethereum’s recent price rise above $300, there are now more ETH addresses in profit than the total number of addresses holding any amount of Bitcoin. Blockchain statistics indicate that the total number of ETH addresses in the green is 31.86 million, whereas the total number with a Bitcoin balance at all is 30.83 million.   ETH holders in the green The last time Ethereum was priced above $300 was a year ago, and on-chain metrics have improved vastly since then. The findings, as first reported in The Defiant, indicate that…

Nearly 93% of the Bitcoin Supply is Profitable; Why This Could be Bad for BTC

Bitcoin’s intense uptrend throughout the past week led its price to highs of $11,400 before it lost some momentum and declined slightly. This latest uptrend has made it so that BTC is less than 45% below its all-time highs. It now appears that the benchmark cryptocurrency is poised to see some further upside, as its technical strength has been mounting as it consolidates above $11,000. There is one set of on-chain data that seems to spell trouble for Bitcoin. Currently, 93% of the circulating token supply is profitable. Historically, when…

Crypto Traders Discuss Bitcoin Price Direction After $11.4K BTC Rally

The price of Bitcoin officially surpassed $10,400 on July 27, breaking out of a multiyear range as a result. Traders are now mixed on where Bitcoin’s (BTC) price will go next, as many indicators and data points show conflicting trends. The general sentiment around Bitcoin and the cryptocurrency industry has been positive since April. The United States Office of the Comptroller of the Currency granted banks permission to operate crypto custody services, institutional investors have continuously invested in Bitcoin and other top cryptocurrencies through Grayscale, and most recently, the Tether…

Almost 95% of Bitcoin Supply Flips Profitable as BTC Price Hits $11.4K

The vast majority of the Bitcoin (BTC) supply is now in profit after its price bull run to $11,400, data shows. Tracked by on-chain monitoring resource Glassnode, as of July 27, almost 95% of the Bitcoin supply is now worth more than when it last moved. Bitcoin profitable days hit 97.7% Monday’s figure almost matches the previous high set in June 2019, at the height of Bitcoin’s price surge which topped out at $13,800. Bitcoin percent supply in profit 3-year chart. Source: Glassnode This time, however, multiple factors differentiate the…

BTC is Safe Haven Asset Amid Political Tension

Nigel Green, the CEO and founder of financial consultancy firm deVere Group, says Bitcoin’s recent bullish activity shows it has the power to replace proven safe haven assets like gold. In a statement on the deVere Group’s website posted July 27, Green said Bitcoin (BTC) is currently living up to its namesake as “digital gold” while it and other cryptocurrencies are more likely to be seen as safe haven assets.  “Up to now, gold has been known as the ultimate safe-haven asset, but Bitcoin — which shares its key characteristics…

Eerily Accurate Bitcoin Fractal Predicts BTC Could Hit $20k This Year

What a day it’s been for the Bitcoin market. After holding under $9,000 for multiple days and weeks, the asset saw an extremely explosive breakout that saw it reach a local high of $10,450 literally just minutes ago. With this latest leg higher, BTC is up 13% in the past 24 hours — outpacing a majority of altcoins, including Ethereum and XRP. Some are fearful that the rally stops here, citing a number of trends, including a CME gap and a Tom Demark Sequential “9” candle. Yet an eerily fractal…