Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Bitcoin price is going up because more people trust it, Ledger CEO says

The Ledger CEO says more retail buyers continue to look at Bitcoin, with non-zero addresses on the rise.

Pascal Gauthier, the CEO and chairman of hardware wallet firm Ledger, says it is people pushing the price of Bitcoin higher.

The crypto executive noted this during an interview with CNBC at the Crypto Finance Conference in St. Moritz, Switzerland.

On the issue of Bitcoin’s price growing exponentially over the past year, Gauthier said that all this is down to retail interest in the cryptocurrency. He believes more people want Bitcoin and as such, demand is pushing prices higher.

He noted that the trend over the past few weeks has been that more addresses have been created, with a growing number holding the minimum number of BTC. The Bitcoin network saw almost 1 million new addresses in November, with BTC price at the time having raced to its all-time high of $69,044 on 10 November.

The Ledger chief also added that the number of retail holders was increasing relative to whales, suggesting it’s the small buyers that continue to push the price of Bitcoin higher.

“There is a profound retail trend everywhere in the world; they trust Bitcoin more and more. It’s the people that will push the price up,” he said. 

Bitcoin has rebounded from below $40,000 reached on Monday and currently trades around $43,700. The upward pressure comes at a time US inflation data shows a 7% jump year-on-year, the fastest rate since 1982.

Meanwhile, Bitcoin flows from exchanges have continued despite the recent sell-off. On-chain data analysis platform Santiment says this is a signal of less sell-off pressure. 

On a different note, Gauthier spoke about the broader crypto space and noted that the space witnessed an explosion of projects that outperformed Bitcoin.

Last year saw Ethereum, which notched more than 455% in yearly gains, outpace Bitcoin’s +75% upmove. While ETH is expected to reach a new peak as its network grows amid institutional inflows, the Ledger founder believes the crypto industry will also be looking at projects like Solana and other top ten projects.

For Solana, the Ledger CEO says it already has a great value proposition in relation to its non-fungible token (NFT) offering. This, he noted, could be expected from several of the protocols as they mature, driving adoption and prices.

Gauthier however says that last year’s massive rally could see several cryptocurrencies settle into a consolidation phase.

On blockchain networks, his main takeaway was that tokens are the “security” of the blockchain network. As such, he believes that a network is as secure as the price level of its native token.

The post Bitcoin price is going up because more people trust it, Ledger CEO says appeared first on Coin Journal.

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Crypto strategist outlines 2022 bullish scenarios for Polygon, Fantom and Enjin Coin

Cryptocurrencies continue to face downward pressure as sentiment across the equity market also weighs on crypto assets.

Popular crypto analyst and trader Michael van de Poppe has highlighted the next possible moves for several altcoins, including Polygon (MATIC), Fantom (FTM), and Enjin Coin (ENJ).

The analyst also highlights the technical outlook for two other altcoins- Woo Network (WOO) and Verasity (VRA).

Van de Poppe also believes flagship cryptocurrency Bitcoin could see a decent bounce and break to the $46,000 price level. This follows the cryptocurrency’s flip above $40k after a brief dip to lows of $39,600 on Monday.

Fantom (FTM) is one to watch

Turning to the altcoins, the analyst says that Fantom price could see another run, off major support levels. He looks at the FTM/BTC pair as indicative of the bullish resilience, noting that 0.0005 BTC makes a good entry point for the coin.

Michael van de Poppe believes FTM, alongside Cosmos (ATOM) and Chainlink (LINK), are some of the altcoins that have shown great strength recently. He says if Bitcoin price “settles”, then FTM would be one of those altcoins to watch.

Polygon (MATIC)

The analyst is also keeping tabs on Polygon, another coin that saw a massive run in 2021 but has faced increased pressure since the broader market correction started in December.

Van de Poppe says MATIC has the potential for another bullish break if prices flip above a key resistance zone at $2.15-$2.20.

ENJ and WOO also look decent

As for Enjin Coin (ENJ), the crypto strategist notes that the extended correction has bulls looking at two critical support levels. The first is around $2.20 and the second one could be at the $1.90 area.

He notes that if prices hold above the two anchors, it’s possible for ENJ to see fresh upside momentum.

He says that ENJ has „two massive areas of support,“ zones at which he would „personally want to be seeking for longs.”

Next up is WOO, the native token on the Woo Network. According to van de Poppe, the token’s value is likely to explode if it breaks against Bitcoin. Currently, the WOO/BTC pair is priced at 0.00002214 BTC, with the altcoin 2.4% down against the top crypto in the past 24 hours.

Verasity (VRA) could soon rise to 6800 sats

But the trader points out that the coin has tested a key supply zone multiple times and the potential for a bullish continuation is there if buyers keep hitting higher lows.

The other altcoin on the analyst’s list of potential outperformers in 2022 is Verasity (VRA). The price of the token is down nearly 25% in the past 7 days, which the analyst notes. The VRA/BTC pair is trading around 6300 sats as of writing, above the support zone at 5335-5800 sats.

Van de Poppe says VRA could see a fresh bull wave if it breaks higher above the main resistance around 6800 satoshis.

The post Crypto strategist outlines 2022 bullish scenarios for Polygon, Fantom and Enjin Coin appeared first on Coin Journal.

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These are the most popular cryptocurrencies among Institutional investors right now

Institutional investors have been warming up to the idea of crypto investing in recent years. In fact, in 2021 we saw increased institutional capital into crypto, and this is expected to continue in the long term. After all, cryptocurrencies are now a serious asset class for all investors. Here is why this trend is very important for retail or individual investors:

  • Institutional investments in crypto are likely long-term and as such, there is potential for increased asset value.

  • The flow of institutional money gives crypto more credibility, something that attracts more individual investors.

  • However, institutional capital is not flowing in all assets in fact, only a select list of cryptocurrencies is benefiting.

At first glance, you’d expect Bitcoin (BTC) to be an obvious choice for institutional money. But this is not true. Although Bitcoin is still a huge part of crypto, most institutional investors are keen on these two coins:

Ethereum (ETH)

Ethereum (ETH) is the second biggest crypto by market cap. The main reason why the coin is attracting a lot of investors, not just institutional ones, is based on its overall ecosystem. Ethereum provides a platform where developers can launch decentralised applications. 

Data Source: Tradingview.com 

In fact, thousands of new projects have been launched on Ethereum, and the chain accounts for the highest percentage of new DApps in the market. This makes it a crucial driver of blockchain technology and innovation in the future.

Cardano (ADA)

Cardano (ADA) is also a scalable blockchain that uses the proof of stake consensus to validate transactions. Like Ethereum, the chain also provides an efficient platform where developers can launch DApps. 

Cardano was founded in 2017 and has since grown to become one of the most valuable blockchains in the world. It is also attracting the interest of institutional investors. At the time of writing. ADA was selling for $1.34 with a market cap of $44.7 billion.

The post These are the most popular cryptocurrencies among Institutional investors right now appeared first on Coin Journal.

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The best cryptocurrencies to buy for your retirement

For a long time, cryptocurrencies were not necessarily seen as an ideal asset class for retirement investing. Most folks wanted solid Blue-chip stocks or commodities like gold to safeguard their future. But this has changed drastically in the past few years as crypto continues to become a more mainstream asset. Here is why crypto assets make sense for retirement:

  • Although the crypto sector is a relatively new industry, it has seen widespread adoption and growth in the last decade.

  • Also, crypto-assets over the past ten years have outperformed traditional retirement assets by a huge margin.

  • The crypto industry is now too big to fail and can be relied on to deliver returns in the long term.

A lot of people would obviously choose Bitcoin (BTC) as the ultimate retirement asset. But we feel bitcoin has already fulfilled much of its potential. The following two coins are not yet there and could be huge in the coming decade:

Solana (SOL)

Solana (SOL) is a smart contract blockchain designed to provide an innovative ecosystem for the development of DApps. Solana (SOL) is seen as the closest rival to Ethereum and has seen massive growth, especially in 2021.

Data Source: Tradingview.com 

But there is so much more to come from Solana. At the time of writing, Solana (SOL) was trading at about $174. However, some analysts expect this coin to hit nearly $3000 by 2030. It’s, therefore, a good choice for long-term retirement investment portfolios.

Binance USD (BUSD)

The biggest worry for most crypto investors is volatility. This is why the idea of adding a stablecoin into your asset pool is always ideal. Binance USD (BUSD) gives you that chance. 

Besides, BUSD is highly regulated and can be used to guard against inflationary pressures in the US dollar. Also, BUSD always trades at a rate of 1:1 with the US dollar, meaning a single BUSD is equal to USD 1.

The post The best cryptocurrencies to buy for your retirement appeared first on Coin Journal.

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3 of the best cryptocurrencies for beginners in 2022

Crypto offers a new class of investment assets that have seen explosive growth over the last few years. More and more money is flowing into crypto, and as such, if you are thinking of trying your hand, then this is the best time. Here are some highlights:

  • The crypto market is filled with a lot of projects, each with its own merits. 

  • As a beginner, it’s often hard to decide what to buy. 

  • But the key is to focus on coins that are more established with some name recognition.

Here are 3 of the best cryptocurrencies for beginner investors:

Bitcoin (BTC)

Bitcoin (BTC) is the biggest crypto by market cap and is seen as the gold standard as far as the crypto market is concerned. It has name recognition and has been trading for years. 

Data source: Tradingview.com 

You don’t need to do a lot of background analysis to know what Bitcoin is about, and besides, all the info you need to trade Bitcoin as a beginner is readily available. And finally, you can buy Bitcoin (BTC) in literally all major exchanges out there.

Ethereum (ETH)

Just like Bitcoin (BTC), Ethereum (ETH) also has global name recognition since it is the second-largest coin by market cap. You will be able to buy and sell it in all major exchanges out there. 

Besides, these days you don’t even need to buy a full ETH coin or even BTC. This makes the two coins ideal for small investments. Ethereum is seen as the foundation of the blockchain industry and has a lot of future potentials.

Tether (USDT)

It is also important for beginners to have some investments in Stablecoins. This can help guard against volatility in the market. There are many Stablecoins of course. 

But Tether (USDT) is a great option. It is ranked among the top 5 cryptos by market cap and has the same name recognition as Ether and Bitcoin. You can also purchase it in major centralised exchanges.

The post 3 of the best cryptocurrencies for beginners in 2022 appeared first on Coin Journal.