Welcome to another edition of Qume Market Mondays

Crypto markets have been bearish for most of the week with a price recovery registered on weekend and today as Institutions move into the crypto markets.

Bitcoin:

Source — Skew.com

Bitcoin fell to the $43,000 price mark mid-week and bounced back to $47,000 price levels over the weekend. The asset is currently trading at a $48,171 price in the futures perpetual markets. Many investors saw the price dip as an opportunity to buy the asset at lower rates and it seems the price recovery is riding on this remark. …


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Bitcoin

Bitcoin crossed the $50k mark on Monday reaching a new all-time high price. This takes the bitcoin this year’s YTD return to 70%. Last week Tesla bought $1.5B worth of bitcoin and this week’s rally is accredited to bullish sentiments fueled by this news.

Source-skew.com

Though the price had fallen by $3,000 earlier today, the price went up afterward and the asset is currently changing hands at $48,800+ price levels.

Following Tesla, Twitter’s CFO has said that they are evaluating the options to invest in Bitcoin.


Welcome to another edition of Qume Market Mondays

Bitcoin

Surce-skew.com

Tesla’s disclosure of investing $1.5B in bitcoin shot the price of bitcoin over $44,000 early Monday. It is currently trading at a $43,150 price level. Earlier in last week, the asset registered some sideways movement to start the week, and later as institutional money flew in the price crossed the $40,000 price mark. A report by asset management firm Bridgewater Associates led by Ray Dalio predicted the price of bitcoin to be $85,000 if 50% of capital in gold by private holders move to BTC.

Under this new release by Tesla…


Welcome to another edition of Qume Market Mondays

Bitcoin

Source-skew.com

Bitcoin is up 4.91% from last Monday’s peak price. The asset is currently changing hands at the $34,413 price mark. The asset’s price rose to $38,000+ price levels late weekend when Elon Musk updated his status as #bitcoin.


Welcome to another edition of Qume Market Mondays

Bitcoin:

Source-skew.com

A report released by BitMEX this week crashed bitcoin by 11%. The price moved from $36,000 to the $30,000 mark. The report claimed that it registered a critical flaw in Bitcoin as BitMEX’s fork monitor registered the bitcoin being double-spent on the bitcoin blockchain.
Double spending means that someone can spend the same bitcoin twice. Blockchain was thought to have solved the problem of double-spending when Satoshi Nakamoto published the Bitcoin whitepaper way back in 2009.

Though the CTO of Bitfinex later in an e-mail explained what happened. According…


Welcome to Qume Market Updates

Bitcoin:

Source-skew.com

This week bitcoin struggled to recover from the hit it took the week before which took its price to $30,000 price levels. Currently, the asset is trading at $37,200+ price levels.


Welcome to another edition of Qume Market Mondays

Bitcoin

Rising institutional interest in bitcoin has played a major role in bitcoin hitting a new all-time high every other week. Companies such as MicroStrategy and SkyBridge capital have heavily invested in bitcoin in the last 2–3 months.

CME has announced that its highly anticipated bitcoin options are now open for trading. This has driven up the price of bitcoin further.

However, past trends suggest that bitcoin is prone to wild swings and the asset value depreciates by at least 25% almost every year from its year high. …


Welcome to another edition of Qume Market Mondays

Bitcoin

Bitcoin crossed the $34,000 mark as the bullish rally extends into New Year. With more and more global portfolios embracing bitcoin it is crossing its traditional boundaries of being the “New thing” for tech geeks and heavy speculators.

VanEck Associates Corporation is trying to launch ETFs tracking bitcoin. The move comes after the increasing bitcoin adoption rates.

Futures Markets

Source-skew.com

Futures markets are showing good trading volumes. Price in Futures markets went up to $34,896, around $100 above the price in spot markets, triggering leveraged shorts liquidations which dumped the price to $27k price levels. …


Welcome to Qume Market Updates

Bitcoin

Source-skew

Bitcoin has continued being bullish since our last Market Mondays. It crossed the $28k mark the late week reaching an all-time high of $28,395 on Sunday. The asset is currently changing hands at $27,192. This bitcoin rally has been mainly backed by the rising institutional interest in crypto assets. Various hedge funds such as MicroStrategy have recently increased their bitcoin holdings. The firm currently holds over 70k bitcoins. SkyBridge capital also launched its Bitcoin fund which will open to investors on January 4, 2021.

Futures Markets


Welcome to another edition of Qume Market Mondays

Bitcoin

source-skew.com

Following the prediction in our last edition Bitcoin crossed the $20k mark early last week and has been increasing for most of the week. Its highest registered price in the futures market was $24,350 on the weekend, a 25% increase since our last edition. The price dropped a thousand dollars on early Monday and the assets is currently valued $23,356 per Bitcoin.

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