BTC PEERS

Bitcoin Fear and Greed Index slides into the fear zone



Amid the euphoria and predictions that followed Bitcoin’s Bull Run to $42,000, the digital asset quickly slipped to the $30k range, dashing the hopes of all those who had set the next price target at $50k. Since then, Bitcoin had spent more time below $40k, struggling to break through key resistance. A struggling Bitcoin has affected the Crypto Fear and Greed index. The crypto market sentiment which was “extremely greedy” just a month ago has shifted to “Fear.” As of January

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Janet Yellen backtracks on earlier crypto statement, says US should consider the benefits of digital assets



On January 19, Janet Yellen made it into the bad books of crypto enthusiasts across the globe when she said that cryptocurrencies were “mainly [used] for illicit financing.” But barely three days later, the Treasury Secretary nominee is offering a more nuanced take on cryptos. She affirmed that although digital assets can be used to finance terrorism, they also have the potential to “improve the efficiency of the financial system.” In a testimony to the Senate Finance Committ

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BlackRock could become the new Grayscale, files to add Bitcoin Futures to funds



With its total assets under management sitting at over $27 billion, Grayscale has remained unchallenged as the world’s largest crypto hedge fund manager. But what would the scenes look like when the world’s largest asset manager enters the crypto playing field? According to a recent SEC filing dated January 20, 2021, investment giant BlackRock might be in the final stage of making its debut into the cryptocurrency space. The filed documents reveal that the multinational inves

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Bitcoin is ‘almost uninvestable,’ says Barclays Private Bank chief



The chief market strategist of Barclays Private Bank, Gerald Moser, has expressed his disdain for Bitcoin calling it an “almost uninvestable” asset. Speaking to Financial News, he explained that bitcoin is too volatile and provides close to zero diversification benefits for large investors. He said: While it is nigh on impossible to forecast an expected return for bitcoin, its volatility makes the asset almost 'uninvestable' from a portfolio perspective […] Many would probabl

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Guggenheim CIO goes bearish on Bitcoin, predicts $20k price



Guggenheim’s Chief Investment Officer, Scott Minerd, is expecting to Bitcoin do a full retracement back to $20,000 from its all-time high of $42,000. Minerd who had earlier set his long-term price target for Bitcoin at $400, disclosed his new stance in a recent appearance on CNBC. Cautioning Bitcoin bulls, he opined that the digital asset may not set a new all-time high this year; meaning that we may have already seen the top of Bitcoin for this year. I think for the time bei

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Biden freezes proposed FinCEN crypto regulations



President Joe Biden has halted all new and pending regulatory rules from the Trump-era, including the proposed FinCEN rule which has been largely described as detrimental to the crypto industry. Consequently, no proposal will be implemented until Biden’s team can review it. The ban was confirmed in a White House memorandum addressed to heads of executive departments and agencies. While the edict does not specifically mention the crypto wallet proposal, the order places a gene

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Pando Coin debuts on leading U.S. crypto exchange, Bittrex



The native currency of the Pando ecosystem, Pando Coin (PANDO), has been listed on Bittrex and is now available for trading. Confirming the listing in an official Medium post, Bittrex Global said: “We are happy to announce the listing of Pando (PANDO) for our customers! The PANDO wallet is enabled for deposits and withdrawals. The USDT-PANDO market is now open for trading.”Following the listing, Pando has made its debut in the U.S. market; a significant milestone in its globa

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Ethereum processed over $835 billion of stablecoin volume in 2020, will the STABLE act impact issuance?



It took nine years for the first stablecoin to appear in crypto. Three years after Ethereum launched the Frontier and nine years since Bitcoin was activated. Stablecoins are digital currencies that are issued by a private entity to track the performance of fiat. Stablecoins are a Shield against Volatility and Conduits into CryptoIn crypto circles, stablecoins aim to minimize volatility. Since launch, leading digital assets like Bitcoin and Ethereum are known for their price s

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Crypto, DeFi, and Stablecoins are “scary but necessary,” former OCC head



In a series of tweets that may be considered his farewell remarks, the former Acting Comptroller of the Currency, Brian Brooks, has dubbed cryptocurrencies “scary but necessary.” Brooks started his exposition by defining the role of governments in any society. According to him, governments are meant to setup frameworks that allow individuals to pursue their version of happiness. Government should *expand* freedom, not constrain it.Ironically, governments do not feel this way.

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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

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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

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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

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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

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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

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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

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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

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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

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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.”

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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

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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

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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

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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

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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

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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

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