Berenberg analysts sees upside in MicroStrategy to $340. They explain their bullish view in a recent research note. Coinbase stock has a “hold” rating only at Berenberg. MicroStrategy Inc is a better pick for exposure to cryptocurrencies than Coinbase Global Inc, as per the Berenberg analysts. MicroStrategy stock has upside to $340 Mark Palmer and…
Cryptocurrency
Why is the crypto market up today? Imminent debt ceiling vote boosts the market
Key takeaways The cryptocurrency market is up by more than 2% today after underperforming for the best part of May. Bitcoin topped the $28k mark for the first time this month. The rally comes as President Biden and the House leadership reached an agreement on the debt ceiling. Crypto Market Cap Reaches $1.16 Trillion The…
Cryptocurrency
Bitcoin supply in loss at 68% after BTC price drop from $31k local top
Bitcoin supply in loss has risen to 68%, with 6.67 million BTC under water water at current spot price. Indeed, on-chain data shows 2.71 million BTC has fallen into loss as Bitcoin price dropped from the $31k local top. With sell-side risk ratio approaching its all-time lows, Glassnode analyst James Check says BTC could see…
Cryptocurrency
Binance CEO says “it’s a big deal” after China broadcast crypto on state TV
Binance CEO Changpeng Zhao says China’s state TV crypto broadcast is “a big deal.” He notes that previous coverage has historically been bullish for crypto. His comments come as Bitcoin price struggled to stay above $26k on Wednesday. Binance CEO Changpeng Zhao, popularly known as CZ, says China broadcasting a crypto segment on state broadcaster…
Cryptocurrency
Bitcoin on-chain metric suggests “big move” is incoming, expert says
Bitcoin could see a volatile phase within the $40k and $22k price range, James Check, lead on-chain analyst at Glassnode says. BTC’s sell-side risk ratio is approaching an all-time low, with traders on both sides showing exhaustion after recent price action. The flagship crypto traded at $26,400 on Wednesday, about 3% down in the past…
Cryptocurrency
US is losing the Bitcoin movement, says Cathie Wood
Key takeaways Cathie Wood has stated that she believes the United States is losing the Bitcoin movement due to the regulatory system. She stated that the collapse of FTX proved the concept of Bitcoin. Cathie Wood’s Ark Invest is one of the major investors of Coinbase. US is being left behind, says Cathie Wood Cathie…
Cryptocurrency
Bitcoin bulls tap Hong Kong news to test key resistance
Bitcoin price rose to $27,500 on Coinbase early Tuesday, with the upside coinciding with positive crypto news from Hong Kong. This is after the Securities and Futures Commission (SFC) announced that registered exchanges will begin allowing retail investors to trade BTC and ETH from 1 June. Analysts say Bitcoin’s immediate price outlook needs a break…
Cryptocurrency
Why are Bitcoin transaction fees rising, and what are BRC-20 tokens?
Key Takeaways BRC-20 tokens were launched on Bitcoin in March 2023 Transaction fees spiked to all-time highs in May 2023 as network activity spiked Bringing memes and NFTs to Bitcoin has caused controversy Some argue the rising fees are vital to the security of the network, while others scoff at the activity for getting away…
Cryptocurrency
Interest in Bitcoin down to two-year low – Google
Key Takeaways Google search data for Bitcoin is at a two-year low Search volume is close to the levels last seen before the crypto boom of 2021 Despite rising prices in 2023, crypto industry continues to suffer from dwindling volumes This trend is backed up when looking at liquidity and trade volume, which have also…
Cryptocurrency
Bitcoin price prediction ahead of key week for the markets
The next week will be critical for BTC, crypto analyst Michael van de Poppe says. Bitcoin price could see a new uptrend if BTC can break out after a successful retest of the 200-day moving average. However, if BTC fails to break above this level, it could fall to past recent lows, with the key…
