Les baby-boomers sont les prochains à adopter les crypto-monnaies, un billion de dollars pourrait être injecté dans le bitcoin au cours de l’année prochaine, selon M. Novogratz

Le PDG de Galaxy Digital, Mike Novogratz, a prédit que près de mille milliards de dollars pourraient être injectés dans le bitcoin au cours de l’année prochaine, les baby-boomers fortunés se lançant dans les crypto-monnaies. Avec l’exemple de Morgan Stanley, il affirme que de plus en plus de banques vont commencer à offrir une exposition au bitcoin à leurs clients.

Un billion de dollars pourrait être injecté dans le bitcoin

Michael Novogratz, l’un des principaux acteurs du marché du bitcoin et fondateur de Galaxy Digital, a évoqué la semaine dernière les perspectives d’avenir du bitcoin dans une interview accordée à la Reuters Digital Assets Week. Il a expliqué qu’à mesure que les crypto-monnaies se généralisent, les baby-boomers fortunés seront la prochaine génération à se lancer dans les crypto-monnaies:

Il se pourrait qu’un billion de dollars provienne l’année prochaine de ce groupe géant de richesses.

À la suite de l’annonce faite par Morgan Stanley d’offrir un accès aux fonds en bitcoins à ses clients fortunés, M. Novogratz a prédit que d’autres grandes banques et plates-formes de négociation suivront le mouvement. Cela va probablement déclencher la ruée des baby-boomers fortunés, a-t-il estimé.

Avec cette nouvelle offre, Morgan Stanley deviendra la première grande banque américaine à proposer des investissements en bitcoins aux clients de la gestion de patrimoine. Deux des trois fonds bitcoin qui seront proposés initialement sont de Galaxy Digital: le Galaxy Bitcoin Fund LP et le Galaxy Institutional Bitcoin Fund LP. Commentant l’initiative de la grande banque d’investissement, M. Novogratz a déclaré:

L’argent commencera à arriver au début du mois prochain.

Le dirigeant de Galaxy Digital n’est pas le seul à s’attendre à un afflux d’investissements de la part des baby-boomers. Récemment, JMP Securities a prédit qu’environ 1,5 billion de dollars pourraient être investis dans le bitcoin par les clients fortunés des banques d’investissement. La société a basé sa projection sur une allocation de portefeuille modeste, citant le fait que

„Environ 30 000 milliards de dollars d’actifs dans le secteur de la gestion de patrimoine de détail aux États-Unis n’ont actuellement pas d’accès direct au bitcoin.“

Quant à savoir si le bitcoin est en train de devenir courant

Quant à savoir si le bitcoin est en train de devenir courant, le PDG de Visa, Al Kelly, a récemment déclaré qu’il prévoyait que la crypto-monnaie devienne „extrêmement courante“ et que son entreprise travaille déjà à autoriser les paiements en bitcoin dans 70 millions de magasins.

D’autres sociétés, telles que Goldman Sachs, constatent également une forte demande institutionnelle pour les BTC, tandis que la Deutsche Bank estime que la crypto-monnaie est trop importante pour être ignorée.

Les baby-boomers sont ceux qui sont nés à peu près de la fin de la seconde guerre mondiale au milieu des années 1960. Ils ont été les principaux bénéficiaires des plans de relance massifs qui ont gonflé la valeur des actifs depuis la crise financière mondiale de 2008-9.

Un certain nombre d’entre eux considèrent le bitcoin comme un actif susceptible de prendre beaucoup de valeur et de protéger leurs économies de l’inflation provoquée par l’impression massive de monnaie.

Notant que le bitcoin fonctionne mieux en tant que réserve de valeur qu’en tant que monnaie ou moyen de paiement, M. Novogratz a déclaré:

Si vous êtes inquiet que les États-Unis impriment trop de dollars… vous allez transférer une partie de vos économies en bitcoins.

XRPL Labs abandons the term “IOU” for tokens issued on XRP Ledger

XRPL Labs has decided to no longer use the term „IOU“ (recognition of debt) for tokens issued on its ledger, XRP Ledger.

With the use of this term, its users may somehow misunderstand how to optimally use the registry.

Currencies issued are intended for use with gateways

XRPL Labs has decided to no longer use the term “IOU” for tokens issued on the XRP ledger.

On XRP Ledger, all currencies other than XRP can be represented as issued currencies, sometimes referred to as “IOU”, which stands for “IOU”. These are listed in accounting relationships called “trust lines” between addresses.

When shared among multiple addresses from a single center, IOUs of the same currency issued can “spill over” between addresses through the shared center.

Although some tokens do serve as an “IOU”, the Dutch software development company for XRP Ledger believes that using this term may cause its users to misunderstand how to best use the registry.

“So from now on we’ll call them Tokens . Tokens issued on the XRP ledger. When used as Bitstamp and GateHub do (they are a gateway between the world of fiat and XRP Ledger + XRPL Decentralized Exchange); they are indeed tokens issued by “IOU”.
But that’s not the only use case. ”

Understanding the XRP Ledger Ledger

One of the possible reasons behind the company’s argument is the confusion some users have expressed about what exactly an IOU represents. Although they have a symbol and are negotiable, these tokens are in fact only declarations of debt, or as XRP Ledger indicates , mean:

“I authorize you to owe me up to this amount outside of XRP Ledger.”

XRP Ledger also states that the currencies issued are intended for use with gateways and financial institutions that keep assets out of the real world and allow their use within the ledger. He cites one of these gateways, GateHub , as an appropriate case of using tokens issued as “ IOUs ”.

For example, XRPL Labs has stated that it will now designate currencies issued as “tokens”. XRPL Labs developed the XUMM wallet for XRP Ledger.

After regaining fourth place in the market capitalization list on Valentine’s Day, ahead of Polkadot (DOT) and Cardano (ADA), XRP has since lost ground, falling back to sixth place. Meanwhile, DOT and ADA rose 6.3% and 5.3% respectively, while XRP fell almost 2%. The three projects have kept changing places over the past two weeks, remaining below Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).

Ripple has been in the limelight in recent months. Recently, reputable exchanges removed the token from their rating as its price suffered massive increases and then losses. The Securities and Exchange Commission (SEC) lobbied the company over the alleged sale of unregistered securities.

Miljardärer som driver krypto: Mexikos tredje rikaste person ändrar Twitter-bio för att inkludera Bitcoin

Elon Musk fortsätter att pumpa DOGE medan Ricardo Salinas Pliego håller fast vid Bitcoin.

Ricardo Salinas Pliego, ordförande på konglomeratet Grupo Salinas och Mexikos tredje rikaste person, pluggar Bitcoin på sociala medier

Miljardären med en uppskattad nettovärde på mer än 13 miljarder dollar från och med januari ändrade sin Twitter-bio under helgen för att inkludera hashtaggen Bitcoin ( BTC ). Crypto Twitter-användare och några av Salinas mer än 840 000 anhängare rapporterade att de märkte förändringen lördag runt den tid då kryptotillgångens pris steg för mer än $ 40 000 för första gången på 23 dagar.

På tal med Cointelegraph i december avslöjade Salinas att han först hade köpt Bitcoin till 200 dollar 2013 och senare sålde under tjurkörningen 2017 när priset nådde 17 000 dollar.

Han beskrev kryptotillgången som sin „bästa investering någonsin.“

I november sa Salinas att 10% av hans „likvida portfölj“ investeras i BTC, medan de återstående „i gruvarbetare av ädelmetaller.“ Den 65-åriga miljardären köpte in innan priset på Bitcoin steg till nya rekordhöga nivåer i december och januari, vilket mer än fördubblade sin investering. Han har sagt att han inte planerar att sälja några kryptoinnehav på minst fem år.

Salinas är inte den enda miljardären som använder sociala medier för att driva krypto nyligen. Idag fortsatte SpaceX-vd Elon Musk sitt tryck på kryptovalutan Dogecoin ( DOGE ). Musk har riktat sig till DOGE-användare under de senaste veckorna när tokenet trasslade in sig i en pump-and-dump-insats av Reddit-handlare och investerare. Priset på DOGE har stigit nästan 600% under de senaste 30 dagarna.

Bitcoin plonge de 3 000 dollars lors d’un rallye de la nuit

Jeudi, Bitcoin a plongé, freinant un rallye époustouflant et déclenchant une vente parmi les petites pièces numériques. Le bitcoin, la plus grande monnaie cryptographique du monde, a chuté de 13 %, son plus bas niveau depuis le 16 novembre.

l’espoir que les cryptocurrences seront acceptées par le grand public

Il a baissé de près de 13 % pour atteindre 16 513 dollars, une forte correction par rapport à son plus haut niveau depuis trois ans (19 521 dollars) atteint mercredi.

Elle a remonté de 140 % cette année, pour se rapprocher de son plus haut niveau historique de 19 666 dollars, alimentée par la demande d’actifs plus risqués, par la perception qu’elle résiste à l’inflation et par l’espoir que les cryptocurrences seront acceptées par le grand public.

Les 12 années d’existence de Bitcoin Profit ont été ponctuées de gains vertigineux et de baisses tout aussi importantes
La deuxième plus grande monnaie de cryptologie, l’éthereum, a chuté d’environ 13% et le XRP, la troisième plus grande, a glissé de plus de 20%.

Ces deux pièces, qui ont tendance à évoluer en tandem avec le bitcoin, ont atteint leur plus haut niveau depuis plusieurs années en début de semaine.

Les 12 années d’histoire du bitcoin ont été ponctuées de gains vertigineux et de baisses tout aussi importantes. Sa volatilité a entravé l’utilisation pour les paiements et a rendu de nombreux grands investisseurs méfiants.

Les bailleurs de fonds espéraient qu’en 2020, un marché plus mature et moins d’investisseurs de détail ont réduit les chances de voir le type de crash qui a suivi sa bulle de 2017.

Déroulement

Les traders ont cité comme cause de cette baisse le dénouement de positions à fort effet de levier accumulées à mesure que bitcoin s’approchait de son record, ainsi que les tweets du PDG de la grande bourse cryptocurrentielle Coinbase exprimant son inquiétude face aux rumeurs d’une répression réglementaire.

„Il y a eu un sentiment d’euphorie sur les marchés ces derniers jours“, a déclaré Joseph Edwards de la société de courtage crypto Enigma Securities. „Cela ressemble surtout à une réaction à cela – les marchés surendettés ont pris un petit coup et ont énormément souffert“.

Un marché de dérivés cryptocurrentiels fonctionnel s’est développé depuis 2017, avec des bourses offshore offrant des positions à fort effet de levier. En période de faible liquidité, les mouvements sur ces marchés peuvent avoir un effet considérable sur le prix des bitcoins.

D’autres ont fait part de leurs inquiétudes quant à la spéculation des acteurs du marché concernant le renforcement de la réglementation américaine sur la manière dont les investisseurs individuels stockent les cryptocurrences.

Brian Armstrong, PDG de la société californienne Coinbase, a tweeté mardi qu’il s’inquiétait des rumeurs selon lesquelles les États-Unis prendraient des mesures de restriction sur les portefeuilles individuels en cryptocouronnes.

Le département du Trésor américain n’a pas répondu immédiatement à une demande de commentaires envoyée en dehors des heures de bureau.

Bitcoin a fortement réagi dans le passé aux mesures de restriction réglementaire prises par les autorités américaines.

Le mois dernier, les procureurs américains ont porté des accusations criminelles contre quatre fondateurs et dirigeants de la bourse de produits dérivés cryptés BitMEX, les accusant de se soustraire aux règles visant à mettre fin au blanchiment d’argent.

Bitcoin ist stabil über $16k mit wenig Mainstream-Hype, und es ist sehr bullish

Der Preis von Bitcoin zeigt sich nach einem kontinuierlichen Anstieg seit dem 10. November stabil über 16.000 $. Jede größere Baisse wurde aggressiv aufgekauft, wodurch BTC eine starke Dynamik aufrechterhalten konnte. Dennoch gibt es wenig Mainstream-Hype hinter der Rallye.

Laut Google Trends gibt es im Vergleich zur Rallye 2017, als Bitcoin 20.000 US-Dollar erreichte, ein deutlich geringeres Mainstream-Interesse.

Die Popularität des Schlüsselworts „Bitcoin“ in der Suchmaschine von Google liegt bei 10 von 100 möglichen Punkten. Im Gegensatz dazu erreichte die Popularität desselben Suchbegriffs im Jahr 2017 100 von 100 Punkten.

Warum die Verteuerung von Bitcoin ohne Mainstream-Hype optimistisch ist

In den vergangenen zwei Monaten ist der Preis von BTC um etwa 65 % gestiegen. Die gesamte Rallye verlief ohne großes Interesse seitens des Mainstreams, zumindest bei Google Trends.

Dieser anhaltende Trend deutet auf drei Dinge hin, die darauf hindeuten, dass sich mittelfristig eine breitere Bitcoin-Rallye abzeichnen dürfte.

Erstens zeigt er, dass das im Kryptowährungsmarkt gebundene Kapital wieder in Bitcoin zurückgeflossen ist. Er zeigt das wachsende Vertrauen von Investoren, die ihre BTC-Bestände wahrscheinlich mit Stablecoins wie Tether abgesichert haben.

Zweitens deutet er darauf hin, dass BTC immer noch einen großen Spielraum für eine größere Rallye hat, da die Mainstream-Anleger während des jüngsten Aufwärtstrends abwesend waren. Im Jahr 2017, sobald Mainstream-Investoren in den Kryptowährungsmarkt eintraten, kam es zu einer explosionsartigen marktweiten Rallye.

Drittens stellt sie den Trend dar, den viele On-Chain-Analysten, darunter der Gründer von Woobull.com, Willy Woo, hervorgehoben haben. Die anhaltende Rallye ist organisch, da es noch keine Mainstream-Nachfrage gibt und sie vom Spotmarkt angeführt wurde.

Wenn also die Mainstream-Nachfrage nach Bitcoin wieder anzieht, könnte sich ein größerer und anhaltender Aufwärtstrend abzeichnen.

Analysten bewerten das Ergebnis zum Jahresende positiv

Nunya Bizniz, eine Krypto-Währungsinvestorin, wies auf das mangelnde Interesse von Google Trends hin, als die BTC bei 14.000 US-Dollar lag.

Seitdem ist die BTC um etwa 15% gestiegen, aber das Mainstream-Interesse stagniert seitdem. Bizniz sagte zuvor:

„Google Trends: ‚Bitcoin kaufen‘ Interesse an einem Kauf zu 14.000 $ beim letzten Mal im Vergleich zu heute. Die Schafe schlafen noch immer!“

Ein pseudonymer Bitcoin-Investor, bekannt als „Mr. HODL“, gab ein ähnliches Gefühl wieder. Er schrieb:

„Wir sind bei $16.000 mit Null-Hype. Das wird blöd werden.“

Neben der geringen Mainstream-Nachfrage nach Bitcoin begünstigen die On-Chain-Metriken einen BTC-Aufwärtstrend in naher Zukunft.

Laut Glassnode erreichte die Zahl der Bitcoin-Adressen von Absendern ein Allzeithoch. Dies zeigt ein hohes Maß an Benutzeraktivität auf der Blockkette, was im Allgemeinen auf starke Fundamentaldaten für die dominante Kryptowährung hinweist.

Das Zusammentreffen positiver fundamentaler, technischer und makroökonomischer Faktoren katalysiert einen Aufwärtstrend bei Bitcoin. Wenn die Dynamik auf echtes Mainstream-Interesse stößt, besteht die Möglichkeit, dass es 2017 erneut zu einer Rallye kommt.

Bitcoin, derzeit auf Platz 1 nach Marktkapitalisierung, ist in den letzten 24 Stunden um 2,33% gestiegen. BTC hat eine Marktkapitalisierung von 300,87 Mrd. USD bei einem 24-Stunden-Volumen von 35,75 Mrd. USD.

Paris Blockchain Week: summary of the event

The 2020 edition of Paris Blockchain Week (PBWS) will take place on December 9 and 10.

The event will take place in a fully virtual format, with over 160 scheduled speakers.

BeInCrypto is the event’s media partner

Paris Blockchain Week (PBWS), one of the largest European conference on blockchains and cryptocurrencies, is back with a 100% virtual format that will bring together 1,700 participants, 160 of the best speakers in the sector, 100 media partners and more than 70 sponsors.

Some of the leading speakers already confirmed for Paris Blockchain Week include Changpeng Zhao, founder and CEO of Binance , Ryan Selkis, co-founder and CEO of Messari , Arthur Breitman, early architect of Tezos, Ben Livshits, researcher in Head of Brave Software, Ryan Zurrer, Founder of Dialectic, Kathleen Breitman, Co-Founder of Coase, Emin Gün Sirer, Founder and CEO of Ava Labs and over 160 others.

All the elements that make the PBWS special have in fact been reproduced on a digital platform so that all participants, speakers and sponsors can participate online, anywhere in the world

Speakers can make presentations on virtual stages, sponsors can exhibit in a virtual exhibition hall, and attendees can engage in a one-to-one video network through a dedicated app.

This event is supported by the French Minister of Economy and Finance, the Secretary of State for Digital, and La French Tech.

Pomp parla di Kevin O’Leary di Shark Tank per comprare „un po‘ di più“ Bitcoin

Kevin O’Leary di Shark Tank ha detto che non era „non contro Bitcoin“ ma che avrebbe investito molto di più nell’asset cripto se fosse stato supportato dalle autorità di regolamentazione.

L’uomo d’affari canadese Kevin O’Leary, che appare nel reality show televisivo Shark Tank, ha apparentemente ammorbidito la sua posizione su Bitcoin dopo aver parlato con Anthony ‚Pomp‘ Pompliano.

In un episodio del podcast di Pomp pubblicato oggi, Kevin O’Leary di Shark Tank sembra aver superato le sue dichiarazioni dell’anno scorso, quando ha dichiarato che il Bitcoin (BTC) „non è una moneta reale“ – anche se ha comunque espresso preoccupazione per la volatilità dell’asset cripto.

L’uomo d’affari ha detto che possedeva già un po‘ di BTC e che potrebbe considerare di investire „un po‘ di più“ del suo patrimonio netto di 400 milioni di dollari nella criptovaluta.

„Non sono contro la Bitcoin, non sono contro di essa“, ha detto O’Leary. „Ma quando si parla di mettere milioni di dollari al lavoro, si vuole davvero capire che si può pensare a lungo termine e ho la sensazione che ci saranno altre idee alternative“.

O’Leary ha detto che la sua principale preoccupazione nell’investire dall’1% al 2,5% del suo portafoglio – la metà di quello che detiene in oro – in Bitcoin è che l’asset cripto non ha ancora il supporto delle autorità di regolamentazione:

„Forse ci metterò un po‘ di più [in Bitcoin] solo per il gusto di farlo. Ne ho un po‘ solo per poter guardare il prezzo, ma mi dà fastidio quando non riesco a far salire a bordo il regolatore“.

Tuttavia, se i governi si mettessero dietro le attività digitali, l’uomo d’affari ha detto che prenderebbe in considerazione l’idea di mettere una percentuale maggiore del suo portafoglio in crittografia. „Il mondo ha bisogno di una valuta digitale“, ha detto.

„Se mi dicesse che gli svizzeri e l’euro, gli americani e i canadesi, i governi australiani sono d’accordo su qualsiasi cosa sia, ci metterei fino al 20% del mio portafoglio“.

I commenti della star di Shark Tank sembrano mostrare una maggiore accettazione degli asset criptati, visto quello che ha detto l’anno scorso. In un’intervista alla CNBC del 2019, O’Leary ha definito la crittografia come una „valuta canaglia“ perché non si potevano pagare le tasse usando la crittografia ed era in gran parte non regolamentata:

„Non ho interesse a fare nessuna di queste stronzate di cripto perché non è conforme.“

IOTA News: Update and progress on Chrysalis Phase 2

IOTA is making progress. The development team conveyed this message last week in a blog post published on November 19. Jakub Chech, the Director of Engineering, spoke in the weekly Chrysalis update about the steps of phase 2. Let’s take a quick look at the IOTA news.

IOTA News: Update on Chrysalis from Jakub Chech

The transformation from IOTA towards IOTA 2.0 is a constant and long-lasting process. Therefore, the Foundation tries to present the state of affairs in regular IOTA news and updates.

Transparency and communication should maintain trust in investors and show which specific measures are being worked on.

After IOTA had already reached an important milestone with Chrysalis Phase 1 in the eyes of this year, the engineers are now working on the implementation of Phase 2.

In the current IOTA News it is now announced that significant progress has been made in developing a wallet for Chrysalis phase 2.

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Chrysalis Phase 2 brings new wallet and replaces Trinity

A new wallet is to be implemented with Chrysalis 2, which will replace the existing Trinity wallet.

We would like to provide a first alpha version for the community in the next few weeks.

The development work is currently still running on private test networks. However, they want to create public test networks and make them accessible as soon as possible.

The IOTA News emphasizes that you work with external auditing companies to ensure a high level of quality and to guarantee a smooth process.

Jakub Chech informs with the current blog post about the current state of affairs and confirms the self-declared goal of the so-called „Mission Coordicide“.

What is your opinion on the current IOTA news? – Are you still following the development of the project and what opportunities do you give the development of IOTA?

Bitcoin’s price reaches $14,000 exactly 12 years after the launch of its whitepaper

Bitcoin’s price has passed the critical mark of USD 14,000, the highest level since January 2018.

The Bitcoin price (BTC) exceeded USD 14,000 on October 31, the day Satoshi Nakamoto published the Bitcoin white paper in 2008. Since then, the world’s largest cryptomone currency has experienced remarkable and exponential growth in several areas.

In the 12 years since the publication of the whitepaper on October 31, 2008, Bitcoin is on a different growth trajectory. Institutional madness is driving BTC’s rebound, major financial institutions are supporting cryptoactives, and the market has become increasingly liquid.

The post-halving upward cycle meets Bitcoin’s 12th anniversary

The 12th anniversary of the Bitcoin White Paper is very special for Bitcoin because it marks the third post-halving cycle.

Every four years, Bitcoin undergoes a halving of the block reward, which halves the rate at which a new BTC is mined. This happens because there can only be 21 million BTCs in its block chain. As BTC approaches its maximum supply, the rate of production slows down.

Historically, halving has had a positive impact on the price of Bitcoin. It slows the rate at which a new supply of BTC is introduced into the market. As a result, every four years, there are fewer BTCs flowing into the exchange market. The fourth, eighth and twelfth anniversaries of Bitcoin are more noteworthy than other anniversaries for this reason. It coincides with a post-Halving cycle, as the last one was in May 2020.

Bitcoin’s historic ‚white paper day‘ prices have grown considerably over the last decade. For example, in 2013, the BTC price was just USD 204. In 2014, it reached USD 338 million; 2015 – USD 314; 2016 – USD 700; 2017 – USD 6,468; 2018 – USD 6,317; and USD 9,199 in 2019.

The BTC price rejected USD 14,100

In the major exchanges, the price of Bitcoin reached a peak of USD 14,100 and saw an immediate rejection on Saturday 31 October. Most of the selling pressure came from Binance, which caused the price to fall rapidly by 3% in just minutes.

Before the rejection, the huge buying walls at Huobi and Binance initially pushed BTC up. There was a 1371 BTC buying wall at Binance at USD 13,680 and another large buying wall at Huobi at over USD 13,800.

A Bitcoin trader known as „CL“ said it was the „biggest buying wall in Huobi I’ve seen in a long time“.

But while BTC exceeded USD 14,000, Binance traders began selling large amounts of BTC in a short period. Prior to the rise of BTC to USD 14,100, technology investor and Cointelegraph Markets contributor, Keith Wareing, wrote

„Unfortunately, Bitcoin will be rejected at USD 14,000 and will fall back below the 2019 high thanks to the Binance whales.

What’s next?

When the price of Bitcoin rises quickly and falls violently, traders describe the pattern as a „darth maul candle“.

After such a large increase in volatility, Bitcoin tends to stabilize and consolidate. With USD 14,000 being a crucial resistance level, it’s likely that BTC will consolidate below USD 14,000 and attempt to break out continuously.

CryptoQuant, the chain market data provider, has been pointing out that Bitcoin deposits on the exchanges have been declining. This generally indicates a decrease in selling pressure, particularly among retail investors and whales.

According to Ki Young Ju, CEO of CryptoQuant, he said the trend is seen as a „long-term buying signal“. The lack of intention to sell by investors in the stock market indicates that a prolonged upward trend has become more likely.

Optimistic market sentiment complemented by strong fundamentals and several positive technical factors only fit the 12th anniversary of Bitcoin.

Binance says that the Argentine market shows opportunities to invest in Bitcoin

From Binance they made an analysis of what is happening with the price of Bitcoin, especially in Argentina

Binance says that the Argentine market shows opportunities to invest in Bitcoin News

Maximiliano Hinz, Latam Operations Launcher of Binance said that the increase in the price of Bitcoin serves to analyze together with variations of the market in Argentina.

Then he added: „Without a doubt it is a volatile asset and like all investments it has to be made in a conscious way, but the opportunities that exist in our country (Argentina) are even better than those of the rest of the markets. Those who are interested in investing in bitcoin, can do it with amounts as small as 100 ARS“.

Analyzing the Bitcoin price increase worldwide

Binance is a global blockchain company that owns one of the most known digital asset exchanges in the world, with more than 15 million users and a daily transaction volume of more than USD 3,000,000,000, according to the company…

In a statement, they noted that, for the first time since mid-2019, Bitcoin has been trading consistently above USD 12,500 and the difficulty of its mining rose to a new all-time high (~20.00T) on October 18, reaching a hash rate (Bitcoin Network processing power) of ~ 137.80 EH/s.

In this sense, they explained that the mining difficulty can be expected to increase even more, with the next reset of the difficulty in November.

In comparison, they stated from Binance that the transaction fees charged by the miners remained low, representing less than 8% of the total revenue flow. Therefore, the recent growth in the hash rate could indicate possible short-term bullish views on bitcoin capital appreciation.

„Grayscale Bitcoin Trust has also grown from 262k BTC in December 2019 to 488k BTC (on October 21), showing the appetite for bitcoin in the retail and institutional markets,“ the statement said.

„In addition, BTC has been issued massively at Ethereum, after the summer of DeFi and with interesting yields at BTC (e.g., the Curve BTC crop group). In total, more than 144k BTC are issued at Ethereum, clearly dominated by two players: WBTC (106,786 BTC) and renBTC (26,755 BTC),“ they added.

Due to the exchange restrictions in Argentina, the number of users in brokers and crypto-currency exchanges has increased

„In the midst of Bitcoin’s reshaping of the futures landscape, Bitcoin’s open interest (futures + perpetual) stood at more than $4 billion, even lower than its Aug. 17, 2020, peak of $6 billion. The futures/perpetual landscape is not dominated by a single market participant in terms of open interest market share, but is shared among CME, OKEX, BitMEX, Binance, FTX and Huobi,“ the statement said.

On the other hand, they pointed out that the option market is mainly dominated by Deribit (more than 60% of total OI) and reached an aggregate open interest of Bitcoin options of USD 2.1 billion, a value close to its previous historical high of September 22, 2020. (~$2.2 billion).
Price Developments

As analyzed from Binance, several factors could have influenced the recent evolution of prices:

A number of traditional companies have invested in BTC. Companies such as MicroStrategy and Square have added bitcoins to their balance sheet for their long-term capital allocation strategy.

This could potentially be related to the macro environment resulting from the COVID-19-induced crisis. Several financial and global institutions (e.g. IMF) adjusted their expectations for economic recovery from the COVID-19 crisis, which could further drive a run on alternative assets.

A number of traditional companies have invested in BTC.

Companies such as MicroStrategy and Square have added bitcoins to their balance sheet for their long-term capital allocation strategy.

This could potentially be related to the macro environment resulting from the COVID-19-induced crisis.