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Bitcoin

Grayscale Bitcoin Trust to Convert to an ETF, Premium Remains

Earlier this Monday, Grayscale Investments announced its plans to transform Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund. Up until recently, GBTC was one of the only investment funds for institutions and retail investors alike. Amidst growing competition, however, the fund’s high management fees and stringent lock-up periods lost favor with many investors. Since February, […]Read More

Bitcoin

Technical Signals Save Bitcoin From a Brutal Dip; What’s Ahead?

Bitcoin bulls were in for a shock this Thursday as the flagship cryptocurrency “crashed” from $57,209 to as low as $50,305. Many catalysts worked behind the scenes as BTC/USD plunged to its multi-week low. Signs of a recovering job sector, rising interest rates, and nascent inflation spurred rotation from highly-valued pandemic winners — including tech […]Read More

Bitcoin

Bitcoin Falls to $53,000 as Wall Street Gains Hurt Appeal;

Bitcoin fell towards $53,000 on Tuesday as US stocks rallied, breaking away its tradition of tailing riskier assets even as bond yields and the US dollar dipped. The benchmark cryptocurrency was down 1.13 percent to $53,500 per token ahead of the L0ndon opening bell. Bitcoin futures on the Chicago Mercantile Exchange dropped by more than […]Read More

Bitcoin

Bitcoin Reclaims $1 Trillion Market Cap: What’s In Store?

Earlier today, Bitcoin rose to its highest level since late February and regained its $1 trillion market cap. Recently, Bitcoin was unable to break key resistance at $50,000, as it failed to find support over its 50-, 100-, and 200-day SMA points on the 4-hour time frame. With continued institutional buying, however, Bitcoin was able […]Read More

Market

What’s Next After Bitcoin Hits $50K? Another $1K Gain

Bitcoin’s momentum carried through overnight, pushing upward to a new all-time high above $51,000 just a day after passing $50,000 for the first time.  “It’s not exactly soaring, as it has with other major technical breakouts, but another 3% gain isn’t to be sniffed at,” Craig Erlam, senior market analyst for the foreign exchange broker […]Read More