Bill Gates Switches from “Bitcoin Bear” to Neutral, BTC/USD Remains Firm above $51.5k

The philanthropist billionaire Bill Gates has swung from being a Bitcoin bear to staying neutral just when the BTC price is defying gravity, recently racing above $52.5k.
Bill Gates now Neutral on Bitcoin, BTC/USD Firming above $50k

Appearing on CNBC’s Squawk Box on Feb 18, the billionaire made it clear that he never owns Bitcoin. However, he’s not “short” the world’s most valuable digital currency, choosing instead to remain neutral...


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https://ecoindiscuss.com/bill-gates-switches-from-bitcoin-bear-to-neutral-btc-usd-remains-firm-above-51-5k/

Tether, Powell Testimony And Bitcoin Hegemony – Bitcoin Magazine



In this episode of Bitcoin Magazine’s “Fed Watch” podcast, hosts Christian Keroles and Ansel Lindner gave an update on bitcoin’s price action over the last two weeks, spoke about the Tether settlement with the NYAG, provided expert commentary on Chairman Powell’s recent testimony and dove deeply into how bitcoin fits into the macro landscape...


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https://ecoindiscuss.com/tether-powell-testimony-and-bitcoin-hegemony-bitcoin-magazine/

Trustless Wrapped Bitcoin Coming to Polkadot in Early 2021


Polkadot is one of the biggest cryptocurrency projects, currently ranked eight in terms of total market capitalization.

Now, the team has revealed that trustless wrapped Bitcoin will come to its ecosystem in early 2021 through Interlay – a framework designated to allow permissioned and permissionless blockchains to connect and interact.
Polkadot’s BTC-Relay Effort

Known as Interlay, the framework that has been under development since 2018 aims at allowing various permissioned and permissionless blockchains to interact and connect seamlessly...

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https://ecoindiscuss.com/trustless-wrapped-bitcoin-coming-to-polkadot-in-early-2021/

Amazon Prime Membership Should Have Been a Tokenized Asset


Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities. ..

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https://ecoindiscuss.com/amazon-prime-membership-should-have-been-a-tokenized-asset/

Breaking Down Square’s Bitcoin (BTC) Position

The recent push to the $1 trillion bitcoin market cap can at least be partially attributed to institutional investors; firms investing on the behalf of others or as part of their asset allocation strategies.
Square, One of the Largest Corporate Holders of Bitcoin

Alongside MicroStrategy, now Tesla, Square is one of the largest institutional purchasers of the asset. However, unlike these other two companies – Square purchases bitcoin to provide it to its users directly through its app. A potential signal on the strong retail interest behind bitcoin, a driving force behind Bitcoin’s rally to $57K...

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https://ecoindiscuss.com/breaking-down-squares-bitcoin-btc-position/

Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust



Since 2017, investors have been anxiously awaiting a Bitcoin ETF approval as the existence of such a fund was an important symbol of mass adoption and acceptance from the realm of traditional finance.

On Feb. 18, the Toronto Stock Exchange hosted the official launch of the Purpose Bitcoin ETF and the fund quickly absorbed more than $333 million in market capitalization in just two days.

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https://ecoindiscuss.com/heres-how-the-purpose-bitcoin-etf-differs-from-grayscales-gbtc-trust/

Bitcoin Closing Beneath One Crucial Level Could Decimate Altcoins


Bitcoin has seen mixed price action in recent times but has generally been confined to its long-held trading range between $9,000 and $9,300.

It has now broken above the upper boundary of this range on two occasions throughout the past couple of weeks, facing firm rejections both times.

Yesterday, Bitcoin began garnering some intense upwards momentum that ultimately led it to highs of $9,400.

From here, bulls lost their strength, opening the gates for a decline back towards its current price levels...

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https://ecoindiscuss.com/bitcoin-closing-beneath-one-crucial-level-could-decimate-altcoins/

Bitcoin Could Become the Currency of International Trade, Says Citi Report

Citi bank made this observation in a 105-page report titled “Bitcoin: At the Tipping point.”

The report traces the evolution of Bitcoin as a reserve of value and currency. Citi analysts opined that Bitcoin is likely to become the currency of choice for international trade from the introduction of the document...

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https://ecoindiscuss.com/bitcoin-could-become-the-currency-of-international-trade-says-citi-report/

North America’s First Bitcoin ETF Now Holds Over 11,000 BTC – Markets and Prices Bitcoin News


The first bitcoin exchange-traded fund (ETF) in North America now holds over 11,000 bitcoins. Purpose Bitcoin ETF saw strong interest at launch. An ETF researcher explained that the surge in interest was evidence of some combination of pent-up demand, the price of bitcoin, and investors switching from other means of getting cryptocurrency exposure...

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https://ecoindiscuss.com/north-americas-first-bitcoin-etf-now-holds-over-11000-btc-markets-and-prices-bitcoin-news/

Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally


After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853...


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https://ecoindiscuss.com/bitcoin-turns-attractive-above-50k-why-btc-extend-its-rally/

Bitcoin Analyst Explains Why Price Could Fall to $17K This Week



A $1,300-weekend pump in the Bitcoin market is not enough to guarantee further gains as the new week kicks in.

According to the independent analyst Vince Prince, the recent rally’s BTC/USD exchange rate has placed it near an ideal sell-off position. In a note published Sunday, the chartist stated that Bitcoin approached a so-called “upper resistance cluster” with a recent history of rejecting upside attempts...

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https://ecoindiscuss.com/bitcoin-analyst-explains-why-price-could-fall-to-17k-this-week/

Bitcoin Is Replacing Gold At An “Accelerating Pace”

The term “gold standard” exists because the asset has stood the test of time as the best form of money the world has historically ever seen. Fiat currencies were once pegged to the precious metal, and today it still used as an investment and hedge against inflation or economic distress...

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https://ecoindiscuss.com/bitcoin-is-replacing-gold-at-an-accelerating-pace/

Bitcoin Dominance Does Not Signal Altcoin Season, Here’s Why

The size of the BTC market capitalization has been criticized as flawed, as not all coins in circulation can be sold at the market price for the moment. However, the number is viewed as a gauge to the sentiment about the chances of BTC or altcoins to rally...

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https://ecoindiscuss.com/bitcoin-dominance-does-not-signal-altcoin-season-heres-why/

Banking Giant JPMorgan Lists 56 Vacancies for Blockchain Experts

At a time when traditional financial institutions across the globe are increasingly integrating distributed ledger technology (DLT) into their processes, Bitcoin-hating Jamie Dimon’s JPMorgan Chase is now trying its best to be the biggest player in the space.

As seen on its website, the global banking giant currently has a total of 56 vacant positions for blockchain developers in various jurisdictions across the world, including India, Singapore, and the United States...


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https://ecoindiscuss.com/banking-giant-jpmorgan-lists-56-vacancies-for-blockchain-experts/

Bitcoin Hype May Have “Passed,” But Is “Healthy” Before Pushing To New Highs


Bitcoin price is well above $50,000, but there’s no denying that some of the momentum that the asset had to start the year has been lost. Volatility lowering also could suggest that the “hype run” might have “passed” for the time being.

But rather than see a sizable correction, Bitcoin price action could instead trade sideways a lot longer, which would be “healthy” before making a push to new record highs...


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https://ecoindiscuss.com/bitcoin-hype-may-have-passed-but-is-healthy-before-pushing-to-new-highs/

Bitcoin hits $25,000 all-time high milestone, surpassing Visa’s market cap

The price of Bitcoin (BTC) surpassed $25,000 on Dec. 25, reaching a new all-time high of $25,020 on Bitstamp and surpassing the market cap of Visa in a historic milestone.

Visa, the financial services giant, is valued at $460.06 billion according to Yahoo Finance. As of Dec. 26, Bitcoin is comfortably hovering above $462 billion...


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https://ecoindiscuss.com/bitcoin-hits-25000-all-time-high-milestone-surpassing-visas-market-cap/

The Top Blockchain Launches to Watch in March 2021


2021 is proving to be another massive year for the blockchain space. Total Value Locked (TVL) in DeFi protocols has hit $45 billion with NFTs raking in over $200 million in sales in the past 30 days. As March gets into gear, there are several major blockchain launches scheduled that you definitely won’t want to miss and a few recent launches to keep on your radar...


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https://ecoindiscuss.com/the-top-blockchain-launches-to-watch-in-march-2021/

What’s Behind it and is This Why Bitcoin Dumps?


Bitcoin fell by over 10% in a day to about $55,000 following a considerable correction. On-chain data suggests that it could be attributed, to some extent, to sizeable deposits to the large US-based cryptocurrency exchange Gemini, just before the drop. However, Glassnode data refutes this option, claiming that the transfers were internal...


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https://ecoindiscuss.com/whats-behind-it-and-is-this-why-bitcoin-dumps/

Bitcoin, Ethereum are not facing another “Crypto Winter” just yet

A common topic of discussion over the past couple of months has been the stalling price of Bitcoin. After its halving in May, the major asset repeatedly failed to breach $10,000, and other than short-term consolidation above the resistance, BTC was unable to sustain a higher position...


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https://ecoindiscuss.com/bitcoin-ethereum-are-not-facing-another-crypto-winter-just-yet/

Why Bitcoin Is Growing In South Africa

South Africa is, without doubt, one of the most advanced countries in Africa — if not the most advanced. The South African country has also become a popular hotbed for the digital currency market. In fact, it is considered by many to be the next frontier in Bitcoin.

According to the cryptocurrency exchange Paxful, South Africans recently traded more than $2.5 million worth of bitcoin in a single month...


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https://ecoindiscuss.com/why-bitcoin-is-growing-in-south-africa/

Ethereum Breaks 100 SMA, Why ETH Looks Set For Fresh Run To $2K


Ethereum remained well bid above the $1,750 support zone. As a result, ETH started a fresh increase above the $1,800 resistance zone, similar to bitcoin above $58,000.

The bulls took control, resulting in a steady increase above the $1,800 resistance. It is now well above the $1,800 zone and the 100 hourly simple moving average. There was also a break above a major bearish trend line with resistance near $1,780 on the hourly chart of ETH/USD...

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https://ecoindiscuss.com/ethereum-breaks-100-sma-why-eth-looks-set-for-fresh-run-to-2k/

Lightning Network will be handling large Bitcoin payments soon


Lightning Network [LN], the micropayment protocol that was essentially created to enable instant, low-cost Bitcoin transactions, is all set to make multi-path payments interoperable. According to a recent Decrypt report, sending larger payments across the LN will be possible in the near term...


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https://ecoindiscuss.com/lightning-network-will-be-handling-large-bitcoin-payments-soon/

Bitcoin Is Intrinsic Value – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

“Bitcoin has no intrinsic value.” This frequently heard criticism is, for Bitcoin’s critics, the ultimate kill shot — the irrevocable proof that, at its most fundamental core, Bitcoin is nothing but a worthless fraud.

“It’s just code” was the line repeated in doom tones on a recent episode of the terribly misinformed Dave Ramsey’s show. Gold advocate Peter Schiff, perhaps the most repetitively vocal critic of Bitcoin, may not recognize the value of remembering your passwords, but he’s certain that bitcoin has no intrinsic value...

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https://ecoindiscuss.com/bitcoin-is-intrinsic-value-bitcoin-magazine-bitcoin-news-articles-charts-and-guides/

Why Bitcoin Price Remains At Risk of More Losses Below $53K

Yesterday, we saw a crucial decline in bitcoin below the $55,500 support zone. BTC even broke the $54,000 level before starting an upside correction.

There was a recovery above the $55,000 resistance. The price even climbed above $55,500, but there was no follow up move. A high was formed near $55,757 before the price declined again. It broke the $55,000 support zone...


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https://ecoindiscuss.com/why-bitcoin-price-remains-at-risk-of-more-losses-below-53k/

Fake Bitcoin Sellers Steal Close to $500K From Victims

According to a report by the South China Morning Post on Tuesday (Mar. 23, 2021), the victims, aged 33 and 31, were deceived by two con artists in a fake bitcoin transaction. The cons who posed as bitcoin sellers managed to steal HK$3.85 million ($495,650) from the victims.

The victims, who work at a money exchange company, went to a shop in Tin Hau to purchase bitcoin with the cash. Meanwhile, a middleman whose identity was not revealed connected the buyers to the fake bitcoin sellers...

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https://ecoindiscuss.com/fake-bitcoin-sellers-steal-close-to-500k-from-victims/

Bitcoin Is Bullish, But A Breakout Won’t Arrive Until 2021: Here’s Why


After months of consolidation, Bitcoin broke free from a tight, boring trading range and continued the uptrend that began in early April.

Despite the cryptocurrency turning from bearish to bullish, a full break out into a new bull market won’t arrive until 2021. Here’s what past Bitcoin cycle data predicts for when the asset may retest its former all-time high, and embark on a new bull run...

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https://ecoindiscuss.com/bitcoin-is-bullish-but-a-breakout-wont-arrive-until-2021-heres-why/

Bitcoin Eyes $60,000-Breakout Ahead of Biden Spending Announcement

Bitcoin held gains, bond yields rose, and gold slipped ahead of President Biden’s next big spending push that could total anywhere between $2 trillion and $4 trillion.

The BTC/USD exchange rate approached $60,000 in an early morning rally in Asia, driven higher by a flurry of fundamentals, ranging from PayPal’s decision to add a crypto checkout service to Visa settling transactions in stablecoin USDC. Traders flocked into Bitcoin, believing that the cryptocurrency’s robust mainstream adoption would prove bullish...

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https://ecoindiscuss.com/bitcoin-eyes-60000-breakout-ahead-of-biden-spending-announcement/

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K



Bitcoin price is taking its time consolidating around $50,000 but could be preparing for the next major leg up to around $77,000 per coin, according to what one trader calls a “cheat sheet” to the current crypto market bull run.

The “cheat sheet” is a fractal from the past that is playing out once again in Bitcoin markets almost perfectly. If the fractal continues, here’s how far it could take the price per BTC before the peak is in...

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https://ecoindiscuss.com/bitcoin-cheat-sheet-calls-for-next-leg-up-to-77k/