BTC PEERS

German investment bank says Bitcoin could drop by 50%



While a lot of predictions have set the target price of Bitcoin to around $50k to $100k, a German multinational investment bank Deutsche Bank AG has stepped forward to say that Bitcoin is likely to halve in value. According to a January survey conducted by the bank, several market professionals believe that Bitcoin and Tesla stock are in bubble territory. More than half of the respondents said that Bitcoin is more likely to drop to the $18k range over the next year. This is c

MORE

Biden’s Treasury secretary nominee Janet Yellen has a bias for cryptocurrencies



According to Treasury secretary nominee and the former Federal Reserve chair, Janet Yellen, cryptocurrencies are a “particular concern” when it comes to terrorist financing and money laundering. The incoming head believes that most digital assets are used for illicit financing. Yellen voiced her opinion during her Senate confirmation hearing today. Responding to a question from Senator Maggie Hassan on how to tackle threats relating to terrorist financing and the Treasury’s r

MORE

Grayscale ramps up Bitcoin purchase, buys $600 million coins in one day



Crypto hedge fund manager, Grayscale, is living up to its name as the world’s largest crypto investor. New data confirms that the firm added 16,244 BTC valued at about $607 million to its Bitcoin Trust on Monday – the single largest Bitcoin buy made in one day. For some context, an average of 144 bitcoin blocks is mined daily, with the reward per block being 6.25 bitcoins. This means 900 bitcoins are created every day. With Bitcoin currently trading at the $37k range, the dai

MORE

Ethereum shoots past $1,400, sets new all-time high



After a three-year waiting period, Ether has finally broken its previous all-time high of $1,420 on some major exchanges. The second-largest cryptocurrency by market cap surged past the $1,400 benchmark today, eventually setting a new high at $1,438. Earlier this month, Ether hinted at a possible rally to new highs. This was cut short by a brief market correction triggered by Bitcoin when it fell from $42,000 to the $30,000 range last week. However, Ether’s price has risen by

MORE

Ripple’s former CTO dumps 28.6 million XRP after short break



According to researcher Leonidas Hadjiloizou, Ripple’s co-founder and former chief technology officer, Jed McCaleb, has resumed dumping or more appropriately selling his XRP stash after a 25-day break. In his recent sale, McCaleb offloaded 28.6 million XRP valued at around $8.8 million at XRP’s current rate. Jed's Tacostand had paused XRP sales ever since the SEC lawsuit was announced. After 25 days of no sales, 28.6 million XRP was sold today. pic.twitter.com/XTMgmvDFZF

MORE

Former Goldman Sachs Exec puts his money where his mouth is, tops up on ETH holdings



Raoul Pal, a former executive of Goldman Sachs has increased his ETH holding amid Ethereum’s recent price rally. Pal made the revelation in the early hours of Tuesday, stating that his portfolio is now shared 70/30 between Bitcoin and Ethereum. Pal has been one of the vocal players in the crypto industry. Late last year he made a rather audacious remark by claiming that Ethereum will be bigger than Bitcoin. Prior to his statement, the renowned investor revealed that he was se

MORE

Ethereum’s daily trading volume goes parabolic, surpasses Bitcoin



The daily trading volume of the second-largest cryptocurrency, Ethereum, is now 28% more than that of Bitcoin. Ethereum’s transaction volumes have surged to a record high of $12 billion in January – $3 billion more than Bitcoin. Amid the rising transactions, ETH’s price is having a moonshot and closing-in on its 2018 all-time high. According to the data from crypto analytics firm Messari, Ethereum’s daily trading volumes “is going parabolic,” an indication that a lot of activ

MORE

Grayscale is the key to Bitcoin reclaiming $40k, JPMorgan says



Grayscale has received a lot of recognition as a key player influencing the price of Bitcoin, and rightly so. With over $27 billion in assets under management, Grayscale currently holds the position as the largest crypto asset manager in the world. In recent comments regarding the short-term price outlook of Bitcoin, strategists from JPMorgan Chase said that Grayscale could be the key to Bitcoin hitting $40k once again. The strategists led by Nikolas Panigirtzoglou told Bloom

MORE

Ruffer Investment hails Bitcoin, claims adoption is just beginning



Despite warnings from UK’s Financial Conduct Authority (FCA) that investors could lose their entire cryptocurrency holdings, leading investment firm, Ruffer Investment, has hailed Bitcoin and defended its $750 million allocation to the digital asset. In a recent note to investors, cited by Portfolio Adviser, Ruffer noted that its Bitcoin purchase was a “small allocation to an idiosyncratic asset class which we think brings something significantly different to the portfolio.”

MORE

Gary Gensler to be named new SEC chair, Reuters reports



As reported by BTC PEERS, crypto-savvy Gary Gensler was rumored to become the new chairman of the U.S. Securities and Exchange Commission. A statement from Joe Biden’s transition team confirmed the rumor on Monday. Gensler has been picked as the new head of the financial watchdog. Gensler will be taking over from acting SEC chairman Elad Roisman who was appointed by outgoing President Donald Trump after the former SEC chairman Jay Clayton left the role on December 23. Gensler

MORE

Former Canadian Prime Minister Harper includes Bitcoin on a list of possible reserve currencies



A former prime minister of Canada, Stephen Harper, has mentioned Bitcoin on his list of possible alternative reserve currencies to the U.S. dollar. Harper made the statement during an interview with Jay Martin of Cambridge House – an investment service. He noted that while behemoth currencies like the Euro and the Chinese Yuan are the closest to replace the U.S. dollar as the world’s major reserve currency, their chances are very slim. Harper has deeply rooted doubts that eit

MORE

Former U.S. Treasury Sec Larry Summers admits Bitcoin is here to stay



Commenting on whether Bitcoin is a bubble or not, former U.S Treasury Secretary, Dr. Lawrence H. Summers, noted that the digital asset “is here to stay.” Dr. Summers is one of many prominent voices that have endorsed Bitcoin as a viable investment option and store of value in recent times. For instance, the chairman of UK investment company, Ruffer, had earlier said that Bitcoin is a “nonsensical asset” that makes a lot of sense. Billionaire Ray Dalio also compared the digita

MORE

Ethereum scarcity looms as exchange reserves drop



Data from CryptoQuant shows that Ether reserves on centralized exchanges are declining with numbers dropping to 8.1 million ETH. Although there are many theories behind the recent drop, Nuggets News’, Alex Saunders, pointed out that at the current rate, “exchanges will run out of ETH in 10 days.” On January 14, Saunders noted that Ether reserves on exchanges dropped by 10% from 11 million to 10 million in 24 hours. Several hours later, he made a second tweet stating that the

MORE

Biden’s multi-trillion dollar stimulus could trigger next Bull Run



Reacting to an upcoming announcement from President-elect Joe Biden on his plans for a COVID-19 stimulus package, the price of Bitcoin and the stock markets rose. With a proposed $1.9 trillion rescue package on the way, this could be all Bitcoin needs to reach new highs. On Thursday night, Biden gave an outline of his $1.9 trillion spending package. The stimulus package is being channeled into combating the health and economic challenges of the coronavirus pandemic. According

MORE

Litewallet collaborates with Unstoppable Domains to enhance crypto user experience



In its original form, a cryptocurrency address comprises a string of rather complex alphabets and numbers that can be up to 35 characters. To the uninitiated, sending or receiving digital assets can therefore seem like a daunting task. Unstoppable Domains is a blockchain firm that is building blockchain domain names and replacing long-string cryptocurrency addresses with human-readable names. Its solution currently supports more than 50 cryptocurrencies, including Bitcoin and

MORE

Pakistani Government allocates resources toward mining Bitcoin



In what may be considered to be the peak of the Bitcoin craze, authorities in the Khyber Pakhtunkhwa (KP) province of Pakistan have deployed two state-owned bitcoin mining farms. Yes, you read that right. The government of Pakistan is now mining Bitcoin. KP is one of the four provinces in the country. Following the new development from the North-West Frontier Province, Pakistan has become one of the first nations to fully throw its weight behind Bitcoin. KP, the province in P

MORE

Popular YouTuber Ali Spagnola elated after making $39k from a $50 gift in Bitcoin



Yesterday, popular musician and YouTuber, Ali Spagnola, shared a video explaining how she became “accidentally bitcoin rich.” Spagnola was thrilled that a $50 gift in Bitcoin that she received in 2013 was now worth more than $39,000. For some context, her initial $50 has increased by 78,000%. Here's how I got accidentally Bitcoin rich... Who wants some? pic.twitter.com/dxncxbIbNp — Ali Spagnola (@alispagnola) January 13, 2021 The backstory has it that Spagnola star

MORE

Lost but not found: Man battles to excavate landfill site with $72 million Bitcoin fortune



James Howells is an IT engineer who accidentally threw away a hard drive containing 7,500 Bitcoins while cleaning his house in 2013. Since then he has made several unsuccessful appeals to Newport city council officials to allow him to excavate a landfill site in the hopes of recovering the device. Officials are however adamant to grant his request. Relentless, Howells has made a fresh plea to dig up the lost device. But this time he has added a bit of a twist. Howells is offe

MORE

Not enough cryptos to go around as eToro warns of ‘possible limitations’



Following a surging demand for cryptocurrencies from its users, eToro has issued a warning of possible limitations in the coming weekend. The Israel-based exchange platform told customers in an email that it is struggling to meet up with the rising demand. And as such, customers could face “possible limitations to crypto BUY orders” because of a lack of market liquidity. The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to

MORE

Interest for Ethereum peaks, whales buy-in



New data from Santiment suggests that the number of Ethereum whales is on the rise. Ethereum accounts holding at least 10,000 ETH have risen from 1,171 to 1,220 in the last two weeks. The 4.2% rise is an indication that “big money” players are confident about the future of the digital asset. 🐳📈 Are #Ethereum's whales exiting their positions in droves now with many assuming the top is in? The answer is a resounding NO. The number of addresses with at least 10,000 $ETH he

MORE

Bitcoin is a better bet than tech stocks, Michael Saylor



In a recent interview with Chris Jaszczynski of MMCrypto, Michael Saylor, CEO of MicroStrategy, said that a bet on Bitcoin is better than a bet on tech stocks. The CEO has been very vocal about Bitcoin and its potentials since his company gained exposure late last year. It is worth stating that MicroStrategy was the first public-listed company to purchase Bitcoin as part of its treasury policy. Saylor believes that the upside potential for Bitcoin is phenomenal. He gave a rat

MORE

Grayscale moves to delist XRP Trust, blames SEC saga



The woes of XRP appear to be compounding following a series of exchange delisting and liquidation from institutional players. A few days after suspending its XRP Trust Fund and liquidating XRP positions from its Digital Large Cap Fund, Grayscale has finally moved to dissolve its XRP Trust. In a press statement circulated yesterday, the world’s largest crypto hedge fund manager cited Ripple’s ongoing battle with the U.S. Securities and Exchange Commission as the reason behind

MORE

More investment advisors are allocating resources to cryptos



A survey published by crypto index fund provider, Bitwise, has revealed that nearly 50% of investment advisors have allocated capital towards crypto assets over the past year. The assessment was conducted in December in partnership with ETF Trends, an investment website. It quizzed 1,000 financial advisors on their crypto investment moves in the past year, as well as their future plans. According to the report, 9.4% of client portfolios were exposed to cryptocurrencies. This

MORE

Institutional thirst for Bitcoin is far from over, says Mike Novogratz



In a recent interview with Yahoo Finance, Mike Novogratz revealed that institutional appetite for Bitcoin is still on the rise. According to the CEO of Galaxy Digital and former hedge fund manager, the new class of institutional investors seeking Bitcoin exposure doesn’t “have their fill yet.” Novogratz said: The institutions who are coming into this space now that weren't in the space six months ago, [a] year ago, don't have their fill yet. Not even close. We're in the first

MORE