Bitcoin soared over 500% in 2020, but that is just scratching the surface.
It can be said in no uncertain terms that 2020 was a remarkable year for Bitcoin. Pure charting numbers aside (although undoubtedly correlated), 2020 was also the year that Bitcoin broke through and became an accepted instrument for institutional investment for both public and private companies.
Many ‘experts’ will warn of a similar crypto bubble to 2017, however the current run-up is driven not just by retail investors but also big-name investors, institutions, hedge funds, and more.
Some of the traditional financial institutions that are buying a minimum of $100m tickets into BTC include; Paul Tudor Jones, Massachusetts Mutual Life Insurance, and Guggenheim Investments. …
In addition to being one of the fastest growing exchanges in the country, Mine runs the largest Australian Bitcoin OTC desk. This success has come down to a few factors that include; deep liquidity and responsiveness, and the fact that the executive team has traditional financial experience running large trading desks.
What this means in practice is that the desk has executional capabilities and administrative qualities that have seen Mine become the preferred destination for local institutional flow.
What is an OTC trade?
Over-the-counter (OTC) trading takes place off the open Mine Digital exchange. We offer deeper liquidity and a private, more personalized service to institutions and individuals needing to fill large orders that might be too disruptive if placed on open markets on exchange. …
Bitcoin broke all-time highs overnight, but without immediate follow-through. Other capital markets were ambiguous.
Morning Traders,
Markets were fairly uneventful overnight with the exception of BTC. USD has neared and broken lows but without major panic — bouncing off of its trend-channel, the S&P500 looks to be trading vaguely higher but not aggressively and gold is still being sold.
There were some liquidity issues last year in markets around halfway through December so the moves to wrap up the year — which could include profit taking — may occur in the first half of December.
Bitcoin
Bitcoin broke its highs last night before easing back to a respectful 8% move in 24 hours. With the spot buying being consistent but without chasing the market there is no reason for it to splash higher at levels. …
In 2020 we have seen yet another spectacular bull-run for the cryptocurrency Bitcoin. Starting the year at around $7,100 USD per Bitcoin the asset is trading at $17,643 USD today, an increase of 148%! So we look at why a trillion-dollar Bitcoin market-cap is more than likely.
Although it is considered a type of ‘digital gold’, Bitcoin’s most recent run is a secular coming of age for the asset as institutions are beginning to rush into it. These have included MicroStrategies Michael Saylor placing their entire treasury — $450 million USD at the time into Bitcoin at an average price of around $11,000. We have also seen endorsements from the great macro-trader Paul-Tudor Jones, who called Bitcoin ‘ The Fastest Horse in the Race’ in a paper called ‘ The Great Monetary Inflation’. This paper was written to his clients in May 2020, a year that the U.S. …
In 2020, Bitcoin is emerging as a viable money for institutional investors. With a current market-cap of $330 billion, we consider a trillion.
In 2020 we have seen yet another spectacular bull-run for the cryptocurrency Bitcoin. Starting the year at around $7,100 USD per Bitcoin the asset is trading at $17,643 USD today, an increase of 148%! So we look at why a trillion-dollar Bitcoin market-cap is more than likely.
Although it is considered a type of ‘digital gold’, Bitcoins most recent run is a secular coming of age for the asset as institutions are beginning to rush into it. These have included MicroStrategies Michael Saylor placing their entire treasury — $450 million USD at the time into Bitcoin at an average price of around $11,000. We have also seen endorsements from the great macro-trader Paul-Tudor Jones, who called Bitcoin ‘ The Fastest Horse in the Race’ in a paper called ‘ The Great Monetary Inflation’. This paper was written to his clients in May 2020, a year that the U.S. …
NOVEMBER 19, 2020 •
Risk traded lower overnight with USD down and gold looking underwhelming going into the end of 2020. BTC is still holding up as-is.
Morning Traders,
With coronavirus restrictions taking place around the world and the potential Biden administration promoting their plan of a ‘6–8 week lockdown’, risk has eased off overnight.
Other factors at this stage in the year are that December is coming up — often a quiet month as well as continued uncertainty around the US election.
This may set us up for weakness in December despite vaccine news and the promise of a Biden technocracy allowing funds to flow and also in spite of expectations that 2021 holds the potential for rabid risk-on. …
DeFi Bull Run Checklist:
Were you prepared for the 17’/18′ Crypto Bull Run? If you weren’t dont stress you have a second chance to make up for any mistakes you might have made. Something good to take out of 2020 is Decentralised Finance (DeFi) and the Bullish Crypto Market that it is bringing to the space.
Follow our guide to be ready to make the most and capitalise on the upcoming DeFi bull market.
- Sign up to an exchange!
In the last bull-market of 17’-18’ it could take weeks to verify and fund your account. …
Data
Data for the week would not be particularly inflationary or deflationary, besides the strong selloff in energy prices due to the European coronavirus lockdowns.
Capital Markets
It is all eyes on the US election this week in a bizarre set of circumstances in which, as we see below, the polling data clearly favours a Biden victory. But…
