Asset Managers and Companies Accumulated Worth $57 Billion Bitcoin.
Asset managers and companies have cumulatively accumulated 1.4 million BTC on their balance sheets. About 6% of Bitcoin's circulating supply which is equivalent to 816,379 BTC worth $40.1 billion are under asset managers. Grayscale Bitcoin Trust, takes up more than 3% of the Bitcoin supply, with 654,600 BTC worth $32 billion, under management. Coinshares XBT provider follows with 48,466 BTC worth $2.4 billion, representing 0.23% of supply.
Asset managers and companies have cumulatively accumulated 1.4 million BTC on their balance sheets. About 6% of Bitcoin's circulating supply which is equivalent to 816,379 BTC worth $40.1 billion are under asset managers. Grayscale Bitcoin Trust, takes up more than 3% of the Bitcoin supply, with 654,600 BTC worth $32 billion, under management. Coinshares XBT provider follows with 48,466 BTC worth $2.4 billion, representing 0.23% of supply.
BITCOIN hold our previous $46-$47k support very well and bounced from there. Right now Bitcoin trading at $48,600. It went upto $49,300 but failed to break the $50,000 mark which is a very good physiological resistance. For bullish scenario BTC must break and hold above the $50k mark. If it's not break the $50k mark then it is highly likely that we revisit $46-47k support.
Stay tuned for more updates.
Stay tuned for more updates.
Bitcoin Whales Remain Optimistic, Making Massive Purchases
•Purchases for $940 million in BTC this week indicate a bullish reversal of the cryptocurrency, despite the coin once again falling below the $50,000 mark.
•Corporations that own Bitcoin on their balance sheets represent 8% of the total circulating supply of the cryptocurrency.
•One of the companies that bought the most BTC after the price drop was MicroStrategy, which accumulated additional Bitcoin worth $177 million.
•Hedge funds predict that the price of Bitcoin will reach $ 100,000 by the end of the year.
Despite the drop below the psychological barrier of $50,000, large investors and whales added another 20,000 BTC to their accounts, indicating optimism in further rises for the asset, and bets by the big pockets on a new bullish streak.
•Purchases for $940 million in BTC this week indicate a bullish reversal of the cryptocurrency, despite the coin once again falling below the $50,000 mark.
•Corporations that own Bitcoin on their balance sheets represent 8% of the total circulating supply of the cryptocurrency.
•One of the companies that bought the most BTC after the price drop was MicroStrategy, which accumulated additional Bitcoin worth $177 million.
•Hedge funds predict that the price of Bitcoin will reach $ 100,000 by the end of the year.
Despite the drop below the psychological barrier of $50,000, large investors and whales added another 20,000 BTC to their accounts, indicating optimism in further rises for the asset, and bets by the big pockets on a new bullish streak.
Let's analyze BTC in daily timeframe.
BTC is doing good so far and like we said it has revisited the support level ($47800).
Could it go further down?
Well, technically we have a very strong support at $47344 because we have both 21 day MA and the lower trendline colliding with each other.
Now, we were predicting BTC to reach $52k but it failed to do so and got rejected from $50500. BTC got rejected till $46361 but once again it showed good respect to 21 MA and bounced right back.
BTC is once again testing the 21 MA and if it bounce from here then within next week, a continuous rally will lead the BTC price $50k, $52k, and $56k.
On the other hand, if BTC fails to hold the 21 MA then it may reach down to $40k level.
So, a daily close above the 21 MA is very important and if BTC closes above $50k, that will be a cherry at the top.
Stay tuned for more updates.
BTC is doing good so far and like we said it has revisited the support level ($47800).
Could it go further down?
Well, technically we have a very strong support at $47344 because we have both 21 day MA and the lower trendline colliding with each other.
Now, we were predicting BTC to reach $52k but it failed to do so and got rejected from $50500. BTC got rejected till $46361 but once again it showed good respect to 21 MA and bounced right back.
BTC is once again testing the 21 MA and if it bounce from here then within next week, a continuous rally will lead the BTC price $50k, $52k, and $56k.
On the other hand, if BTC fails to hold the 21 MA then it may reach down to $40k level.
So, a daily close above the 21 MA is very important and if BTC closes above $50k, that will be a cherry at the top.
Stay tuned for more updates.
Bitcoin's weekly close at $48,600. One Red candle in weekly chart after 5 consecutive green candles. Still struggling to break and hold above $50k. Untill we get any close above $50k btc might retest $46-47k support level.
LAST WEEK IN CRYPTO
#1 Twitter CEO sets to build a Decentralized Bitcoin exchange.
#2 Crypto investment products total AUM records $54.8 billion.
#3 11% young Americans invested their stimulus checks in crypto
#4 Riot blockchain's quarterly Bitcoin mining revenue increased 1540%.
#5 Institutional inflows into Solana and Cardano surpasses Etherum.
LAST WEEK IN CRYPTO
#1 Twitter CEO sets to build a Decentralized Bitcoin exchange.
#2 Crypto investment products total AUM records $54.8 billion.
#3 11% young Americans invested their stimulus checks in crypto
#4 Riot blockchain's quarterly Bitcoin mining revenue increased 1540%.
#5 Institutional inflows into Solana and Cardano surpasses Etherum.
BTC UPDATE: Right now BTC held the support of $46-$47k. Also the daily 200 ma is around $46k. If this support breaks then next support will be $44-$44.5k.
Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K and then dropped back but once it breaks above and closes above 50k , the path to 52K/54K/57K will be cleared and alts will rally , Only need to remain with patience.
Stay tuned.
Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K and then dropped back but once it breaks above and closes above 50k , the path to 52K/54K/57K will be cleared and alts will rally , Only need to remain with patience.
Stay tuned.
Pro Analysis
BTC UPDATE: Right now BTC held the support of $46-$47k. Also the daily 200 ma is around $46k. If this support breaks then next support will be $44-$44.5k. Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K…
Are you thinking what we are thinking?
If you had followed our previous update, we clearly told you about the support levels for BTC and look how nicely it bounced from our support ($46k). We also mentioned that if BTC holds and closes above the $50k level then we may see a rally towards $52k and above.
Well, you can clearly see it in this 2 hours chart where we are heading.
In 2 hours TF, BTC formed a symmetrical triangle and look how perfectly it broke out of it and it is currently at the retest phase. BTC may possible reach $52k+ only if it holds above these triangle pattern. $46600 would be an important support for BTC.
See you guys on our next update so stay tuned.
If you had followed our previous update, we clearly told you about the support levels for BTC and look how nicely it bounced from our support ($46k). We also mentioned that if BTC holds and closes above the $50k level then we may see a rally towards $52k and above.
Well, you can clearly see it in this 2 hours chart where we are heading.
In 2 hours TF, BTC formed a symmetrical triangle and look how perfectly it broke out of it and it is currently at the retest phase. BTC may possible reach $52k+ only if it holds above these triangle pattern. $46600 would be an important support for BTC.
See you guys on our next update so stay tuned.
$1.5 TRILLION INVESTMENT MANAGEMENT FIRM IS HIRING A BITCOIN AND CRYPTO RESEARCH ANALYST
On Wednesday Franklin Templeton, with over $1.4 Trillion in assets under management, posted an open position for a “Research Analyst - Crypto Currency” on LinkedIn.
According to the LinkedIn post, the traditional multinational holding company, which provides investment solutions to 34 countries around the world, is seeking to employ someone to provide “research coverage” for Bitcoin.
On Wednesday Franklin Templeton, with over $1.4 Trillion in assets under management, posted an open position for a “Research Analyst - Crypto Currency” on LinkedIn.
According to the LinkedIn post, the traditional multinational holding company, which provides investment solutions to 34 countries around the world, is seeking to employ someone to provide “research coverage” for Bitcoin.
Pro Analysis
Are you thinking what we are thinking? If you had followed our previous update, we clearly told you about the support levels for BTC and look how nicely it bounced from our support ($46k). We also mentioned that if BTC holds and closes above the $50k level…
BTC perfectly broke out and retested from the exact trendline which we drew in our previous chart.
Like we said, BTC strongly hold on to the Symmetrical triangle pattern and looks like it is possibly gearing up for $52k+ levels. So far, we are in a good hands but stills let's not forget the bearish side of the market. A break down below the upper trendline would have invalidated this chart but we saw a bounce. It is quite possible that BTC may get rejected again bur we are biased on the bullish scenario so we will stick to it keeping in mind the other half as well.
Stay tuned for more quality updates.
Like we said, BTC strongly hold on to the Symmetrical triangle pattern and looks like it is possibly gearing up for $52k+ levels. So far, we are in a good hands but stills let's not forget the bearish side of the market. A break down below the upper trendline would have invalidated this chart but we saw a bounce. It is quite possible that BTC may get rejected again bur we are biased on the bullish scenario so we will stick to it keeping in mind the other half as well.
Stay tuned for more quality updates.
BLOOMBERG REPORT: BITCOIN AT $100,000 IS PATH OF LEAST RESISTANCE
Bloomberg has published the September edition of its Crypto Outlook report, sharing how the company's analysts are navigating the market and measuring adoption rates as well as demand and supply dynamics. According to the report, Bitcoin is set to reach the $100,000 mark soon, a "path of least resistance," as well as establish itself as the global reserve asset.
Bloomberg has published the September edition of its Crypto Outlook report, sharing how the company's analysts are navigating the market and measuring adoption rates as well as demand and supply dynamics. According to the report, Bitcoin is set to reach the $100,000 mark soon, a "path of least resistance," as well as establish itself as the global reserve asset.
Pro Analysis
BTC perfectly broke out and retested from the exact trendline which we drew in our previous chart. Like we said, BTC strongly hold on to the Symmetrical triangle pattern and looks like it is possibly gearing up for $52k+ levels. So far, we are in a good hands…
Bitcoin quick update:-
Bitcoin just kissed the $51,000 resistance and rejected from there. Now BTC ranging in $49,500-$50,500 zone. For bullish scenario BTC must close and hold above $51k in daily.
This is the decision area and BTC need to break and hold above $51,000 to go towards the $55,000 area.The next support for BTC is $48,500 as long as it's above $48,500 we are in uptrend.
Stay tuned for more updates.
Bitcoin just kissed the $51,000 resistance and rejected from there. Now BTC ranging in $49,500-$50,500 zone. For bullish scenario BTC must close and hold above $51k in daily.
This is the decision area and BTC need to break and hold above $51,000 to go towards the $55,000 area.The next support for BTC is $48,500 as long as it's above $48,500 we are in uptrend.
Stay tuned for more updates.
We will be sharing a gem call in the next few minutes.
This is a BSC token which you can buy and hold for few weeks for insane gains by swapping on its own decentralised exchange!
All Native coins of decentralised exchanges have shown unrealistic gains.
Most of us missed those coins like CAKE which is almost 230x since it's listing.
UNI, SUSHI, 1INCH etc.
Stay tuned
This is a BSC token which you can buy and hold for few weeks for insane gains by swapping on its own decentralised exchange!
All Native coins of decentralised exchanges have shown unrealistic gains.
Most of us missed those coins like CAKE which is almost 230x since it's listing.
UNI, SUSHI, 1INCH etc.
Stay tuned
Pasta Finance is a decentralized exchange running on Binance Smart Chain and Pancake swap exchange. Pasta Finance offers to its users the benefit of liquidity mining, staking, and generating rewards with cryptocurrency holdings.
👉Total Pasta supply- 5,953,678
👉Market cap- $3,045,977
👉Yield farming
👉ATH- $12.5
👉Current price- $0.55
Why to Buy Pasta?
25x down from it's ATH!
Only 5.9 million tokens.
Yield farming great Rewards.
High liquidity (So everyone is safe to buy)
Expected Targets: $10 to $20 in the next few weeks.
Once everyone knows about this, you'll see it trending on both twitter and telegram.
People will be buying way higher than the CMP which is $0.55!
Get in if you find it good before it hits $1.5 to $2!
Also recently they announced on their twitter handle that Pasta's team is continue to work on new features. So guys it’s a very good opportunity.
We can expect at least 20x to 25x from this project.
(Disclaimer: We Are not doing any paid promotions, do your own research before investing)
Official website- https://pastafinance.com/
👉Total Pasta supply- 5,953,678
👉Market cap- $3,045,977
👉Yield farming
👉ATH- $12.5
👉Current price- $0.55
Why to Buy Pasta?
25x down from it's ATH!
Only 5.9 million tokens.
Yield farming great Rewards.
High liquidity (So everyone is safe to buy)
Expected Targets: $10 to $20 in the next few weeks.
Once everyone knows about this, you'll see it trending on both twitter and telegram.
People will be buying way higher than the CMP which is $0.55!
Get in if you find it good before it hits $1.5 to $2!
Also recently they announced on their twitter handle that Pasta's team is continue to work on new features. So guys it’s a very good opportunity.
We can expect at least 20x to 25x from this project.
(Disclaimer: We Are not doing any paid promotions, do your own research before investing)
Official website- https://pastafinance.com/
Pasta Finance
Pasta Finance - Developed Strong With The Concept
Even though Bitcoin was launched to be used as a payment method for daily transactions, that mission is still to become true.
I see, many followers messaged us on how to buy Pasta since we don't post these kind of projects and people are habituated with exchanges like Binance and Huobi.
If you are facing difficulties buying.
This article posted on medium will help you to buy pasta!
https://medium.com/@dbarker9571/pastafinance-8b355cbc8c5b
If you are facing difficulties buying.
This article posted on medium will help you to buy pasta!
https://medium.com/@dbarker9571/pastafinance-8b355cbc8c5b
Medium
#PASTAFINANCE
Decentralized finance (Defi) has revolutionized the crypto industry. Before Defi, investors heavily relied on centralized exchanges and…