Bitcoin Fractal Predicts Price Will Soon Slip Below $10,000

Bitcoin has dropped slightly since the highs it set on Monday near $11,750. As of this article’s writing, the leading cryptocurrency changes hands for $11,400, a few percent shy of those highs. While the cryptocurrency remains in a positive position on a daily and weekly scale, an analyst fears a stronger correction. He recently shared a key fractal analysis suggesting that the cryptocurrency could soon drop under $11,000, which has acted as a key support. The fractal further predicts that Bitcoin will continue its descent. Related Reading: Here’s Why Ethereum’s…

Tether’s market cap could overtake Ethereum’s next year — Bloomberg report

A new report predicts Tether could surpass Ether’s market cap by the end of next year, paving the way to mainstream adoption of stablecoins and central bank digital currencies (CBDCs). According to Bloomberg’s Crypto Outlook report for Q4 2020 written by Senior Commodity Strategist Mike McGlone, Tether (USDT) is likely to take the number two position by market capitalization from Ether (ETH) in 2021. The report cited the “stagnant market cap” of ETH, which currently stands at $43.2 billion but remained under $30 billion for most of 2019 and 2020,…

Here are 4 Factors Signaling Yearn.finance (YFI) Remains Bullish

Yearn.finance’s YFI governance token has been struck hard by multiple bearish developments as of late, with the cryptocurrency’s price reeling down towards where it was trading at before its parabolic move to highs of $40,000. The intensity of this decline has come about as a result of a confluence of factors surrounding its fragmented community as well as a weakening market structure. Its weakness may be further compounded by another controversial project currently being created by the Yearn founder that has, once again, resulted in serious losses for investors. This…

Uniswap’s first community proposal seeks to reduce governance thresholds

The Uniswap community is currently holding its first-ever vote, set to be completed by October 19. Up for consideration is the reduction of thresholds required to submit governance proposals and quorums. In recent weeks, there has been much discussion and criticism about the protocol’s standing governance framework. A post by the market intelligence platform Glassnode concluded that with its current setup, only Uniswap’s centralized competitor Binance would be able to successfully submit a governance proposal. Though the latest proposal disproves this assertion, questions about the framework’s efficacy remain. Uniswap governance…

Retail investors will ‘undoubtedly’ move to Bitcoin, says Fidelity

Fidelity Digital Assets, the cryptocurrency custody and execution arm of United States financial services giant Fidelity, has claimed in a new report that retail investors will turn their attention to digital currency as they become more familiar with Bitcoin and other crypto offerings via social media platforms.  According to the report, social media and communication platforms including Twitter, Reddit, Telegram, YouTube, and Tik Tok are driving the retail adoption of Bitcoin (BTC). They dissemble financial information and advice in a “more viral and rapid” way than traditional channels. “As this…

Bitcoin volatility is worth the risk for institutions

In a recently released report titled Bitcoin Investment Thesis, Fidelity Digital Assets demonstrated how portfolio managers could increase their returns by allocating a portion of their holdings to Bitcoin (BTC). The report also speculated that in the near future, increased institutional interest could expand Bitcoin’s market capitalization by hundreds of billions of dollars. Source: Fidelity Digital Assets. To prove its thesis, Fidelity simulated sample portfolios starting with a default allocation of 60/40 between equities and fixed income instruments. They then diversified these with Bitcoin at a rate of 1 to…

Move Past $12,000 Will Ignite Bull Run to $16,500

Bitcoin’s price action has grown stagnant over the past few days and weeks, with the cryptocurrency struggling to gain momentum as bulls and bears battle for control of its near-term trend. Last week, the benchmark digital asset incurred some serious momentum after news broke regarding Square’s acquisition of $50 million worth of BTC. This news seemed to confirm that the trend of companies holding Bitcoin as a reserve asset is gaining steam, which could provide the asset with further buy-side pressure in the near-term. Despite the overt strength this event…

Fidelity says “there is almost no relationship between the returns of Bitcoin and other assets”

In recent years, a battle of the minds has surfaced on whether or not Bitcoin’s price is correlated with other financial assets, such as stocks. A recent report from Fidelity Digital Assets brings clarity to the argument.  Fidelity’s lengthy report, titled Bitcoin Investment Thesis: Bitcoin’s Role As An Alternative Investment, shows not only a lack of correlation between Bitcoin’s price and mainstream financial assets, but higher returns for BTC investors over a long-term time horizon.  The report said: “Bitcoin’s correlation to other assets from January 2015 to September 2020 (displayed…

Here’s how to properly earn a DeFi sized yield trading Bitcoin options

I recently caught wind of an interesting Cointelegraph article explaining how investors could earn 41% APY on their Bitcoin without converting it to renBTC or WBTC. In the article, the writer laid out a detailed case for generating yield on Bitcoin (BTC) holdings by investing in options markets instead of decentralized finance (DeFi) apps. While we are proponents of this exact strategy some of the explanations laid out in the article are more confusing than useful so I want to add a little clarity to the best way to execute…

Despite Crypto Rebound, This Analyst Still Expects $20 Ethereum: Here’s Why

Ethereum, aside from Chainlink, is the best performing cryptocurrency in the top ten by market cap. The top-ranked altcoin has had enjoyed a substantial rebound from bear market lows and surged all throughout 2020 on the heels of the DeFi trend. But despite the greater crypto market recovery, one crypto analyst sees a bearish Elliott Wave count on Ethereum, that could take the altcoin back to double-digits, and just $20 per ETH. Easy As ABC Correction: Elliott Wave Trader Targets $20 Ethereum It sounds far-fetched to think Ethereum could revisit…