19th January Latest Crypto Magazine
In this one of the latest crypto magazine, you will get to know all the weekly updates regarding the market. Strong institutional inflows are propelling the current crypto bull run. One of the major beneficiaries has been crypto fund manager Grayscale Investments, which saw its assets under management jump from $2 billion to $20 billion in 2020. Grayscale said that 85% of the investments were from institutional investors. The inflow of money has only picked up in 2021 as Grayscale CEO Michael Sonnenshein said the company had raised more than $700 million on January 15, its largest single-day asset raise.
Pantera Capital believes that Bitcoin has been closely following the stock-to-flow model’s trajectory, and they expect the bull run to continue and reach $115,212 by Aug. 1. On similar lines, Guggenheim Partners’ chief investment officer Scott Minerd, also reiterated his Bitcoin target objective of $400,000 in the long-term.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE:
TOP 4 FASTEST GROWING CRYPTOCURRENCY EXCHANGES IN 2021
THE WISE TOKEN – THE BEST WAY TO EARN CRYPTO!
As we had mentioned in the previous analysis, Bitcoin has not resumed its uptrend yet. The bulls are facing selling near the downtrend line but the positive sign is that the buyers are not allowing the price to dip below the 20-day EMA. This suggests demand dries up at higher levels but traders are buying the dips.
The upsloping moving averages and the RSI in the positive territory suggest bulls have the upper hand. If the buyers push the price above the downtrend line, the BTC/GBP pair may again attempt to retest the all-time high at £30,936.
A breakout and close above this level will signal the resumption of the uptrend. The next target objective on the upside is £38,616. However, we give it a low probability of occurring as we anticipate the bears to mount a stiff resistance in the £29,398 to £30,936 zone.
Instead of breaking above the downtrend line, if the bears sink the price below the 20-day EMA, the pair could drop to £24,000 and then to the 50-day SMA at £20,197. Such a deeper correction will suggest the bullish momentum has weakened and the uptrend may not resume in a hurry.
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Featuring in this weeks Edition
CoinShares to Launch a Bitcoin ETP on SIX Swiss Exchange
It joins several other ETP providers on the exchange, including ETC Group, with its own physically-backed bitcoin product.
Nvidia Looks to Fire Up Its Crypto Mining GPU Production; If Demand is Good Enough
While known for its prowess in the gaming industry for its powerful line of graphics cards, the Chipmaking powerhouse Nvidia has hinted at a possible restart in the production of Graphics Processing Units (GPUs) specifically for cryptocurrency miners.
Crypto Exchange Livecoin Closes After Alleged Hack
Livecoin is shutting down citing lost control over its infrastructure. The platform promises to refund the clients requesting a substantial amount of personal data. Livecoin has warned of potential imposters.
Tether Drops $1M Into Crypto Game Infinite Fleet’s Security Token Sale
Online spaceship strategy game Infinite Fleet aims to raise up to $8 million via security token sales, and Tether has already provided the first million of that.