Warren Buffett’s ‚rechterhand‘ zegt dat Bitcoin „walgelijk“ is

De Amerikaanse miljardair investeerder Charlie Munger stelde dat Bitcoin „walgelijk is en indruist tegen de belangen van de beschaving“.

Charlie Munger, vicevoorzitter van de Amerikaanse holding Berkshire Hathaway, heeft gisteren tijdens de jaarlijkse aandeelhoudersvergadering van het bedrijf de Crypto Trader de hemel in geprezen door het een „walgelijk“ financieel product te noemen dat „uit het niets“ is uitgevonden.

„Natuurlijk heb ik een hekel aan het Bitcoin-succes,“ zei Berkshire tijdens een vraag- en antwoordsessie, en voegde eraan toe: „Ik ben niet blij met een munt die zo handig is voor ontvoerders en afpersers enzovoort, en ik hou er ook niet van om zomaar van je extra miljarden dollars uit te schuiven naar iemand die net een nieuw financieel product uitgevonden heeft uit het niets.“

„Walgelijk en in strijd met de belangen van de beschaving“

Volgens het zondag gepubliceerde verslag van CNBC weigerde Berkshire Hathaway CEO Warren Buffett, die ook aanwezig was op de bijeenkomst, direct commentaar te geven op Bitcoin. Na het antwoord van Munger te hebben aangehoord, merkte Buffett echter op dat hijzelf „alright on that one“ is.

Volgens Buffett wilde hij niet direct commentaar geven op Bitcoin om eventuele kritiek van crypto-enthousiastelingen te voorkomen. Munger, daarentegen, was niet zo subtiel.

„Ik denk dat ik bescheiden moet zeggen dat de hele verdomde ontwikkeling walgelijk is en in strijd met de belangen van de beschaving,“ zei hij.

In februari betoogde Munger tijdens de jaarlijkse aandeelhoudersvergadering van Daily Journal ook al dat Bitcoin „echt een soort kunstmatig substituut voor goud is“.

„En aangezien ik nooit goud koop, koop ik ook nooit Bitcoin. Bitcoin doet me denken aan wat Oscar Wilde zei over de vossenjacht. Hij zei dat het de jacht was op het oneetbare door het onuitsprekelijke,“ zei hij toen.

Financieel onheil en somberheid

Zoals CryptoSlate eerder meldde, heeft Euro Pacific Capital CEO Peter Schiff, een andere bekende Bitcoin-criticus, onlangs ook Bitcoin afgekraakt in een interview met financieel analysebureau RealVision.

„Ik denk niet dat deze Bitcoin-verzamelingen nog iets waard zullen zijn als de muziek stopt. Je kunt niets doen met een Bitcoin. Zodra niemand je Bitcoin wil, is het volledig waardeloos,“ betoogde Schiff, eraan toevoegend: „Bitcoin is geen valuta, het wordt niet echt gebruikt als een ruilmiddel, of een rekeneenheid. Het wordt alleen gebruikt voor speculatie.“

In alle eerlijkheid is Schiff echter ook van mening dat zowel de Amerikaanse dollar als de Amerikaanse economie voorbestemd zijn om in de toekomst in te storten – de belangrijkste vraag is welke van de twee het eerst zal gaan.

„De Bitcoin-zeepbel kan eerder knappen dan de dollarzeepbel. We kunnen een cryptocurrency crisis hebben voordat we een dollar crisis hebben,“ beweerde Schiff.

 

Bitcoin bottleneck: Institutionals drive BTC stock market balance into the red

Bitcoin resumes flirting with the 40,000 mark and is positioning itself for another ATH attempt.

Star investor Bill Miller meanwhile lets money follow his words

While Bitcoin left the Altcoins with more and more market shares in the past three weeks of trading, the largest crypto currency reported loudly back with the recapture of the 40,000 US dollar mark at the weekend. At the beginning of the week, the crypto key currency slipped just below the symbol mark and was trading at 39,330 US dollars with a weekly plus of 18.3 percent at the time of going to press.

Even if the crypto reserve currency was unable to maintain the level for the time being, the recent sharp rise in market capitalization suggests that the all-time high will soon be rendezvous. Since January 27, the total value of all Bitcoin in circulation has risen from 550 to currently 728 billion US dollars. The foundation for the next phase of the rally seems to have been laid in the form of massive capital inflows.

While the slump at the end of January was still marked by profit-taking, the rapid recovery points to further acquisitions, primarily by wealthy investors. Hedge funds in particular are pumping the market full of liquidity with their massive BTC allocation. Investment companies like Ruffer, which made a profit of 750 million US dollars on a BTC investment in just two months , agree with the immense capital inflows from institutional investors.

With Bill Miller, the next star investor is entering the emerging asset class

Miller Value Fonds‘ Miller Opportunity Trust announced on February 5 in a filing to the SEC that it would invest 15 percent of its capital in Bitcoin. The funds are to flow into the GBTC Trust managed by Grayscale. With a total of over $ 2.25 billion in assets under management, the expenditures totaled over $ 300 million. This would increase the GBTC to the 14 billion US dollar mark.

The move comes as little surprise. It was only on January 21st that Bill Miller reinforced his belief in Bitcoin performance in an investor letter:

Bitcoin has been the best-performing asset for eight out of the last ten calendar years, and its annualized performance has blown away the next best performer, the Nasdaq, by a factor of ten over the past decade.

The trend towards broad market entry by institutional investors is reflected in the growth in well-filled wallets. As the following graphic from the on-chain data portal Glassnode shows, the number of wallets holding 1,000 or more and thus at least 39 million US dollars in BTC at the current exchange rate has increased exponentially since December 2020. Almost 2,500 wallets are already in circulation, although there is no sign of an end to the trend.

Big Uptick i 1k BTC adresser viser institutioner købt dip; Goldman Sachs siger stadig kun 1% af de institutionelle penge

På trods af den sunde tilbagetrækning kan mere korrektion ikke udelukkes endnu, men $ 30.000 vil blive beskyttet, fordi mange institutionelle investorer købte omkring dette niveau.

Bitcoin Evolution tager en pust i vejret og svæver omkring $ 35.000 efter den dybe tilbagetrækning tidligere på ugen. Denne fortjeneste med en ATH på $ 42.000 blev forventet, efter at Bitcoin havde samlet mere end 1.000% fra lavprisen i marts 2020.

”Der er tegn på, at detailinvestorer tager fortjeneste,” sagde Ryan Rabaglia, OSL’s globale handelschef. ”Øget volatilitet er ofte korreleret med en stigning i detaildeltagelsen.”

Markedet fokuserer især på det amerikanske dollarindeks lige nu, som har fået styrke og i øjeblikket svæver omkring 90

”Vi synes, at en tilbagetrækning er sund,” sagde David Grider, den digitale strateg hos Fundstrat Global Advisors. Ifølge ham indikerer den nylige prishandling ikke, at Bitcoin har toppet.

Imidlertid kan yderligere tab heller ikke udelukkes, da minearbejdere fortsætter med at sælge, mens der ikke er nogen signifikant stablecoin-indstrømning i billedet. Der ses heller ikke nogen udstrømning fra Coinbase; faktisk flyder BTC til børser .

På baggrund af dette, „Vi kan have anden dumping,“ sagde Ki Young Ju, administrerende direktør for dataudbyder CryptoQuant

Alligevel vil $ 30.000 blive beskyttet, og i tilfælde af en nedgang falder vi muligvis ikke under $ 28.000, fordi „der er mange institutionelle investorer, der købte BTC på 30-32.000 niveau,“ tilføjede Young Ju .

Disse institutioner var faktisk i at købe dypene, der kom søndag og mandag. De store mængder af BTC-indehavere, der kan ses som en fuldmægtig til institutionel adoption, „steg markant“ siden starten af ​​2021. Dette adressehastighed med mindst 1.000 BTC viser, at denne institutionelle adoption er kommet for at blive.

First Canadian bitcoin mutual fund cracks $ 1 billion

3iQ’s Bitcoin mutual fund has risen 900 percent since October 2020 and is now breaking an important mark.

Canadian asset management company 3iQ has reached another milestone for its publicly traded Bitcoin mutual fund (QBTC)

The Bitcoin ( BTC ) -based mutual fund cracked the 1 billion US dollar mark on January 14, as 3iQ reported on Twitter . The QBTC was only launched in April 2020, which illustrates the rapid increase in value of the investment product all the more. In addition, the new brand represents an increase of 900% compared to October 2020 than it was 100 million US dollars recorded were.

As previously reported, 3iQ’s QBTC is the first publicly traded bitcoin mutual fund in Canada to trade on the Toronto Stock Exchange. The Gemini crypto exchange operated by the Winklevoss twins takes care of custody for the QBTC.

At press time, the Bitcoin mutual fund is valued at $ 48.63, an increase of 330% since it was listed in April when an entry level of $ 11 was viewed

3iQ is one of the largest wealth management companies in Canada. In January 2018, it became the first Canadian crypto mutual fund to be approved by the Ontario Securities and Exchange Commission and Canada. In February 2020, 3iQ has again teamed up with the block chain Startup Mavennet to a connected to the Canadian dollar Stablecoin bring out , which is regulated by the Canadian financial transaction supervision.

Shaun Cumby, a former top manager of 3iQ, is now CEO of investment firm Arxnovum that on January 11, in turn, an authorization for a Bitcoin index funds (ETF) with the SEC Ontario requested has. Gemini will also take over custody of this product.

Is Bitcoin futuremarkt Bakkt naar de beurs? A merger of $2 billion could bring that about

The bitcoin future platform is possibly going to the trade fair. There is a $2 billion merger in the air and as a result Bakkt might become publicly tradable.

The trading platform is largely owned by Intercontinental Exchange. The rumours about an IPO of Bakkt originate from the possible merger with VPC Impact Acquisition Holdings.

The origin of the rumour
Yesterday, in a publication quoting anonymous sources, Bloomberg claimed that Bakkt is already at an advanced stage of negotiation. The article predicts that the merger can be announced as early as next week.

The sources estimate the value of Bakkt after the merger with the entity in question at around $2 billion.

VPC Impact is a company that has a short line with Victory Park Capital, an SEC registered investment firm. Chief executive John Martin describes VPC’s strategy as looking for partners to help the business grow in the fintech sector.

Now it has identified Bakkt as a company that fits within that strategy.

Shortly after launch Bakkt goes public
Bakkt launched in 2019 and focuses on institutional investors. Before the company launched, expectations in bitcoinland were high.

Initially, the trading volume on the platform was disappointing and the bitcoin surge expected by some remained. Nowadays the volume on Bakkt is extremely high.

Last week the trading platform recorded a volume of $286 billion. A funny fact is that the CEO of Bakkt is Senator Kelly Loeffler. He lost the Georgia elections earlier this week. Which once again shows that bitcoin is also nestling in ever-higher political circles.

With the current price explosion and all the developments in the industry, the risk of bitcoin ever disappearing seems to be getting smaller. More and more people understand that bitcoin is not an enemy, but a friend of our future prosperity.

Bitcoin hält 18.000 Dollar, auch wenn Mnuchin einige der mit der Pandemie verbundenen Gelder einstellt

Bitcoin stieg am Freitag, als Händler sich weigerten, sich zu beugen, bevor Steven Mnuchin beschloss, einige der Krisenbekämpfungseinrichtungen der Federal Reserve zu beenden.

Der US-Finanzminister schloss zwei Programme zum Aufkauf von Unternehmensschulden, fünf weitere Programme zur Kreditvergabe an mittelständische Unternehmen, auch bekannt als Main Street Lending Program, eine Fazilität zur Kreditvergabe an staatliche und lokale Gemeinden und eine weitere zur Unterstützung von Asset-Backed Securities.

Diese Kreditfazilitäten spielten eine Hauptrolle bei der Beruhigung der Finanzmärkte nach der globalen Marktroutine vom März 2020. Risikobehaftete Vermögenswerte wie Aktien stiegen neben Safe-Havens wie Gold, da die Händler zwei mögliche Ergebnisse erwarteten: dass die Fed den Aktienmarkt immer unterstützen wird und dass ihre expansive Politik den US-Dollar schwächen wird.

Bitcoin, ein junger Vermögenswert, der sich zwischen Safe-Hafen und Risiko nach Belieben hin und her bewegt, hat sich auch unglaublich gegen den tauben Ansatz der Fed gewehrt. Zwischen März und diesem Monat stieg das Flaggschiff der Krypto-Währung um bis zu 379,21 Prozent und schlug damit den S&P 500, Gold und andere traditionelle Markterholungen.

Die Aussichten auf ein schrumpfendes Hilfsprogramm erschienen Bitcoin pessimistisch. Doch ihre Risiken stießen zumindest am Freitag auf taube Ohren, als die Kryptowährung vor der Eröffnungsglocke in London und New York um weitere 2 Prozent kletterte und über eine wichtige Unterstützungsmarke von 18.000 USD handelte.

Bitcoin legt am Freitag um weitere 2 Prozent zu, sogar gegen negative Fundamentaldaten.

Die konkurrierenden Märkte hatten nicht so viel Glück. Während Gold um etwa 0,2 Prozent nachgab, gaben die an den S&P-500-Index gebundenen Futures um 0,45 Prozent nach, was auf eine depressive Eröffnung hindeutet, wenn der US-Markt öffnet.

Auf der anderen Seite stieg der US-Dollar gegenüber dem Korb der wichtigsten Fremdwährungen geringfügig um 0,04 Prozent.
Gegenläufige Fundamentaldaten

Mnuchins Entscheidung, die Notfallkreditprogramme der Fed zu beenden, von denen ein großer Teil nicht ausgeschöpft wurde, fiel, als der designierte Präsident Joe Biden im Bundesstaat Georgien einen Vorsprung vor seinem republikanischen Gegner Donald Trump gewann.

Krishna Guha, der stellvertretende Vorsitzende von Evercore ISI, beschimpfte den Schritt des Finanzministers, indem er ihn als „rücksichtslose Politisierung der Marktstabilisierungspolitik“ bezeichnete. Er merkte an, dass Herr Mnuchin dafür sorge, dass unter dem Regime von Herrn Biden kein Geld für seinen Nachfolger übrig bleibe.

In der Zwischenzeit wogen Analysten auch die Möglichkeit ab, dass die Biden-Regierung die Kreditprogramme nach der Vereidigung Bidens am 20. Januar wieder aufnehmen würde. Sie müssten neue Darlehensfazilitäten starten, indem sie „ungewöhnliche und dringende“ Umstände an der Seite der Fed anführen.

Das erklärt in gewisser Weise, warum selbst eine Abwärtskorrektur beim Gold am wenigsten ungeheuerlich ist – und warum Bitcoin sich bis zum Ende genau des Katalysators, der dazu beigetragen hat, dass es von 3.858 $ im März auf 18.000 $ im November anstieg, widerstandsfähig verhält.

Wie es scheint, erwartet die Krypto-Währung eine holprige Fahrt vor sich, da sie plant, ihr Rekordhoch von 20.000 $ erneut zu testen. Ihr Aufwärtstrend könnte nach der Vereidigung von Mr. Biden wieder einsetzen.

Two DeFi tokens, AAVE and SNX, may have started to rebound

IN BRIEF

  • Aave follows a downward line of resistance.
  • There is support at $28.50 and resistance at $45 and $58.
  • SNX has passed a downward resistance line.

Aave (AAVE) has started to rebound from a large support area but has not yet crossed its down resistance line.

The Synthetix Network token has already crossed its down resistance line and started to rise.

Aave (AAVE)

The AAve was falling from its peak of August 26 at $90.89, following a downward line of resistance.

On November 5, the price reached a low of $24.66 before starting to rise. This caused the price to deviate below the $28 support line, which the price regained shortly thereafter.

However, the price has not yet broken through the downside resistance line. If it does, the closest areas of resistance will be at $45 and $58.

Crypt trader Bitcoin Revolution shared an AAVE chart showing that the price is at a support level. According to her, the price could start to rise soon. The price has already bounced back to the support zone and its trend would be confirmed by a move above the resistance line.

Technical indicators show a growing bullish divergence in both the RSI and the MACD. This tells us that an upward movement could soon take place.

That said, the RSI is below 50, the MACD is below zero and the Stochastic Oscillator has not yet generated a bullish cross. As long as this hasn’t changed, we can’t say with certainty that the trend is upwards.

A break above the resistance line would likely allow technical indicators to turn bullish.

Synthetix Network (SNX)

The course of the SNX has already exceeded a similar downward resistance line. This resistance line has been in place since early September, when the price peaked at $8.05. The SNX has already passed a similar resistance line. The price finally exceeded it after four attempts.

If it manages to pass its current resistance line of $3.60, the next resistance line could be $4.70.

Top analyst warns: Bitcoin is now exposed to these risks in the short term

Bitcoin Forecast Top Analyst Risks for BTC

John Bollinger, the famous technical analyst, believes that Bitcoin could be on the way down. BTC has fallen 4.5% today since its peak following the explosive rally in the U.S. stock market.

Bitcoin, Gold and other „value keepers“ retreated sharply after Pfizer reportedly announced a major vaccine milestone. According to Pfizer, a study of 44,000 people showed that the vaccine was highly effective.

After the news, the U.S. stock market soared, crashing Bitcoin Cycle and Gold in a short period of time.
Why do the Bollinger bands suggest consolidation?

The Bollinger Bands are a technical indicator developed by John Bollinger in the 1980s to show support and resistance zones.

When the price of an asset reaches the upper band, it indicates that it is overbought. Conversely, when it falls into the lower band, it indicates an overbought trend.

The daily chart of Bitcoin with Bollinger Bands.

After a sustained rally since September, the daily chart of Bitcoin is now floating just below the top of the Bollinger Bands. Bollinger on this:

„The short-term topping pattern on the upper Bollinger Bands indicates a correction of recent gains and/or some consolidation.

That Bitcoin has reached the top of the Bollinger Bands coincides with the first test of the $16,000 resistance level since 2017.

Over the past week, Bitcoin has consistently moved below the $16,000 level and has tested it repeatedly. However, each time it approached the level, a sharp retreat occurred. This trend suggests that whales are increasingly bidding for the $16,000 mark.

Given the high selling pressure of $16,000, a breakout above that level would likely lead to an attempt at a new record high. However, as long as it is not broken, BTC would likely continue to be threatened by consolidation.

Analysts dissatisfied with Bitcoin’s long-term trend

In the long term, analysts remain unimpressed by the price development at Bitcoin. PlanB, the creator of the S2F model, writes that „strong hand buyers“ and algorithms would drive BTC higher:

„Watch now as these Bitcoins, which some stupid weak-handed sellers have sold in bulk in the last 4 hours, are absorbed by strong hand buyers with hundreds of intelligent little 0.01 BTC algorithm purchases. These BTCs will disappear into cold storage.“

A consistent thesis that the Bitcoin rally has added during 2020 is that institutional demand is increasing. Grayscale’s Assets under Management (AUM) is approaching $8 billion, while institutional inflows continue to grow.

The coincidence of the consistent accumulation of Bitcoin by the institutions and the repetition of the most critical technical level at $16,000 could reduce the likelihood of a major withdrawal.

Bollinger also stresses that only a consolidation phase could be on the horizon – not necessarily a major correction.

Typically, a consolidation just below an important key area is seen as an optimistic price trend.

As long as Bitcoin remains close to $16,000, the technical structure of Bitcoin at the macro and time levels remains positive.