Paul Tudor Jones Bitcoin fractal hints at possible explosive BTC rally

Based on the fractal, Bitcoin is in an early phase of a prolonged rally that could allow BTC to experience exponential growth in the longer term. Bitcoin versus gold price fractal. Source: Bloomberg Bitcoin may be on the same trajectory as gold There are two main reasons why Bitcoin could follow the macro trend gold saw from the 1970s. First, BTC has a fixed supply that cannot expand, which makes it an attractive hedge against inflation. Second, BTC has the same qualities of a safe-haven asset that gold has. In…

Bitcoin carnage, Eth2 milestone, Libra launch, PayPal blunder: Hodler’s Digest, Nov. 21–27

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.   Top Stories This Week Buy the Dip Bitcoin price tumbles, falling below $17,000 in biggest crash since March At the start of the week, the crypto markets were brimming with optimism. Bitcoin was one resistance zone away from all-time highs, altcoins were rallying by triple digits, and the…

Dapper Labs’ Flow blockchain takes major step towards mainnet

In a move that may signal that a mainnet launch is just around the corner, Flow — the blockchain from Cryptokitties and NBA Topshot developers Dapper Labs — has launched the Flow Port: a tool for token holders to manage, stake, and delegate their Flow cryptoassets.  The announcement focused heavily on how users can stake their FLOW tokens through custody providers such as Kraken and Coinlist, as well as delegate their tokens to currently-existing node operators. Those who wish to operate their own node might face a lengthy reviewal process,…

Bitcoin relief rally is underway — Can BTC price reclaim $18K?

Bitcoin (BTC) price dropped severely in the previous week, falling from $19,500 to $16,000. Corrections never occur smoothly as dropdowns are frequently sudden and painful. The recent correction isn’t much different as the drop occurred in a matter of hours.  Since then, Bitcoin’s price consolidated above $16,000, which marked a temporary bottom. The primary question is whether the correction is over or not. A determining factor will be whether or not BTC price can reclaim the crucial levels that will support further upward momentum. Bitcoin is in the middle of…

Why institutions suddenly give a damn about Bitcoin

Without a doubt, Bitcoin (BTC) has become an increasingly popular asset to own among institutional investors. By the end of the second quarter of 2020, Fidelity reported in a survey of almost 800 institutional investors that 36% owned crypto assets. A separate survey, conducted by crypto asset insurance company Evertas, shared that respondents believe hedge funds will increase their crypto holdings drastically. It also projected that 90% of institutional holders of crypto assets expect to invest even more in Bitcoin this coming year. Related: Corporate Bitcoin treasuries are here, which…

How to Use DeFi Crypto Exchange Uniswap: A Beginner’s Guide

Key Takeaways Uniswap allows you to exchange ETH and ERC-20 tokens in a few easy steps through its streamlined coin swap. You can also deposit crypto to Uniswap pools and earn interest. This tutorial shows you how to do both tasks. Share this article Uniswap is a decentralized exchange (DEX) built on Ethereum. It offers a simple coin swap interface that allows users to trade ETH for various other ERC-20 tokens or altcoins. It also allows you to create liquidity pools and earn interest. Here’s how to use it. Part…

Why a “Blue Wave” Victory in U.S. Politics Is Bullish for Bitcoin

Key Takeaways “It’s never been good for markets to have one party control everything,” says Yusko. Yusko describes how corruption in both parties erodes the checks and balances in politics. The CEO’s comments highlight the importance of the upcoming runoff elections for the Georgia senate. Share this article Mark Yusko is the CEO of Morgan Creek Capital Management, a VC firm that has invested over $100 million in the crypto ecosystem. Yusko is bullish on Bitcoin, recently describing Bitcoin as a saving asset rather than a consumable asset like fiat.…

Latest Bitcoin Dip Adds Credence to 1970s Gold Comparison

Share this article Circling back to his analogy between gold prices in the 1970s, Paul Tudor Jones reveals exactly where he thinks Bitcoin is headed.  Bitcoin Preparing for “Supercycle”  Media site Zero Hedge shared a chart from PJT comparing gold prices in the 1970s with Bitcoin and found that Bitcoin’s current run to the high of the decade is still on the cards.  The comparison between the two charts even signals a higher peak in Bitcoin than in December 2017.  Any continued dump in $BTC would be extremely bullish as…

Yearn Finance continues acquisition spree with Cover

This morning, Yearn founder Andre Cronje announced the latest in a spate of high-profile mergers and collaborations for the multi-faceted decentralized finance (DeFi) protocol: Yearn Finance will be “joining forces” with market coverage provide Cover.  In a blog post, Cronje notes that the merger will be a natural one, as Yearn and Cover developers have been working together since Cover’s inception. Cronje also listed a series of promising possible synergies, including enhanced utility for the Cover’s CLAIM token, which will act as collateral and become a borrowable asset for Yearn,…

3 reasons traders now expect Bitcoin hitting $13K before a new rally

The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback. There are three main reasons why traders expect a deeper drop to occur in the near future, namely,  historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source: TradingView.com Historical cycles hint at deeper BTC correction BTC price frequently saw 20% to 30% drops in past bull markets…