Business & finance
Believing, not seeing: Institutions still predict $100K Bitcoin price
Even though Bitcoin has struggled to reclaim its recent high of $42,000, projections of BTC reaching $100,000 still seem achievable to some.
Despite Bitcoin price cooling off in recent days, with the premier cryptocurrency currently hovering around the $32,000 mark, it is still showcasing strong technicals as well as a thirty-day price gain of nearly 40%. Not only that, but even since its recent dip — which has seen the digital asset fall from its recently established all-time high of around $42,000 to its present value — the top crypto is still in the green over the last 12 months, exhibiting a value spike of nearly 300%.
In this regard, since the fourth quarter of 2019, a number of traditional finance players have been predicting big things for Bitcoin (BTC), especially as governments all over the world continue to print money in the form of “economic stimulus packages,” leading to fears of inflation becoming more prevalent but also of a looming economic disaster that could potentially result in a global recession of unprecedented proportions.
For example, during the second quarter of 2020, the economy of the United States plunged at an unprecedented rate, with the global powerhouse’s gross domestic product, which outlines a nation’s total output of goods and services, falling by 31.4%.
In the wake of such developments — including an alarming rate of money being printed by central banks globally — many investment houses and banking institutions are now beginning to see a future for Bitcoin, especially as a hedge against monetary inflation, despite its current volatility levels.
Many institutions see BTC at $100,000-plus
Earlier this year, American megabank JPMorgan Chase’s strategy team, led by Nikolaos Panigirtzoglou, claimed that a theoretical target of $146,000-plus could be sustainable for BTC by the end of 2021, pushing the narrative that the digital currency seems to be a prime candidate for replacing gold as a long-term store-of-value, especially for a budding base of younger, more tech-savvy investors.
In a similar vein, new data released by Pantera Capital, an investment firm and hedge fund, reiterates JPMorgan’s sentiments surrounding BTC, suggesting that its price action is closely following the Stock-to-Flow model, thus reaffirming its faith in the digital asset hitting the $115,000 mark by Aug. 1.
The S2F model that was developed by PlanB looks at BTC halving events that take place roughly every four years and how they play a direct role in spurring the currency’s value roughly six months after each cycle. In this regard, one can see that following each of the previous three halvings, Bitcoin has shown remarkable growth. For example, after the May 2020 halving, the price of 1 BTC rested at $8,000, only to shoot past the $15,000 threshold after exactly six months.
Raiffeisen Bank too employed the S2F model in a recent report to ascertain where Bitcoin might be headed in the near future. According to the company’s research team, price targets beyond the $100,000 mark or even $1 million may be possible to achieve. “The fact is, now that the value has more than tripled in 2020 and momentum remains strong, future further gains should not surprise us,” the study reads.
Other prominent players from the realm of traditional finance who have projected big things for BTC in the short term include individuals such as Andy Yee, public policy director for Greater China at cross-border payments provider Visa, who believes that this rally is different from the one in 2017, as it marks a shift from high-speculative, nonfunctioning tokens toward Bitcoin and Ether (ETH).
Similarly, Thomas Fitzpatrick, global head of U.S.-based financial giant Citibank’s CitiFX Technicals market insight product, allegedly wrote in a private report — which was leaked online — that by December, Bitcoin has the potential to scale up to a price of around $318,000.
Fanciful projections or imminent reality?
Even though the S2F model was at first one of the few technical indicators signaling Bitcoin’s astronomical rise, it now seems that an increasing number of experts and analysts are beginning to see the technological and monetary proposition being put forth by BTC and other cryptocurrencies.
Sam Tabar, co-founder of Fluidity — the company behind the AirSwap trading platform — and former head of capital strategy for Merrill Lynch told Cointelegraph that everyone needs to remember that the optimism surrounding BTC at this point is not just fluff, as speculation is now backed by real substance, adding:
“Bitcoin is not ruled by any one person or government. Instead, it is ruled by the simple laws of supply and demand. […] In essence, Bitcoin is two sides of the same coin: On the one side is a global currency, and then the other side is digital gold.”
As a proxy for a global currency, the friction of buying crypto has been significantly reduced, as it’s easier than ever before to acquire Bitcoin. Similarly, as a proxy for gold, Tabar opined that Bitcoin is being used as a hedge against the U.S. dollar, especially as the newly elected President Joe Biden looks to spur U.S. dollar spending in order to prop up the economy against the effects of COVID-19 lockdowns.
Providing a more technical breakdown as to why institutions are betting big on Bitcoin, J. P. Thieriot, CEO of asset trading platform Uphold, told Cointelegraph that unlike traditional dollar debasement havens like gold and other commodities, Bitcoin has zero elasticity on the supply side.
He highlighted that if/when the price of gold reaches $3,000, marginal gold mines will once again fire up, with the same dynamic being applicable with oil and every other non-math-based unit of account. Thieriot believes that “The unique lack of supply-side elasticity means that, price-wise, BTC will respond more precipitously than things like gold, to the exact same drivers.” He further added:
“BTC is in the early stages of its rollout. As it metamorphosizes from fringe curiosity to portfolio must-have, it’s pretty logical to assume that inflows will grow. If I were a bookie, I’d say the over/under for Dec 31, 2021 midnight… is $85,000.”
Lastly, the ever-increasing institutional demand seems to be changing the digital-asset market, which in turn is driving many banks to make seemingly outlandish price projections in relation to BTC. For instance, more funds are now looking to enter the crypto game, and recently, American firm Osprey Funds announced that it will be launching its over-the-counter crypto solution, Osprey Bitcoin Trust, which will likely rival Grayscale Bitcoin Trust.
Investor sentiment surrounding BTC is high
When looking at the market sentiment surrounding Bitcoin, the digital currency is increasingly showing correlations with the core functions traditionally afforded by traditional fiat currencies for their users — that is, it has become a unit of account, a standard of deferred payments and, lastly, a tangible long-term store of value.
Also, over the course of 2020, an increasing number of e-commerce platforms added support for Bitcoin and other cryptocurrencies as a method of transaction to pay for goods and services. PayPal, for example — a company that boasts a 28-million-strong merchant base — now allows users to buy, sell and store cryptocurrencies via its platform.
On the subject, Paolo Ardoino, chief technology officer of crypto exchange Bitfinex, told Cointelegraph that consumer sentiment around Bitcoin is overwhelmingly bullish right now and that people who are celebrating the rise of various altcoins and other off-chain solutions owe their success to the flagship crypto, adding:
“The king of crypto is the base layer for an emerging alternative financial system. Bitcoin is providing a solid foundation for a staggering array of projects, some of which will fundamentally change the nature of money by the end of the decade.”
Thieriot believes that the sentiment driving BTC is a result of previously unseen levels of currency debasement generated by the monetary response to COVID-19. Beyond retail speculation, he believes corporations are looking to hedge their fiat exposure, evidently seeing some relative advantages of Bitcoin over traditional havens like gold and subsequently jumping in. “The early jumpers have been handsomely rewarded, and so the trend is likely to continue,” he added.
Lastly, Tabar highlighted that one of the more recent signs of growing consumer sentiment and institutional acceptance regarding BTC has come in the form of recent filings made by BlackRock, an American multinational investment management corporation with $8.7 trillion in assets under management as of the end of 2020. A quick look at the filings showcases a strong use of crypto-oriented language alluding to the company’s funds potentially engaging in “futures contracts based on Bitcoin.”
This content was originally published here.
Business & finance
Stash app – the tool to manage your finances, with all the tools to upgrade them
If there are two things I wish I knew in college, one is learning how to cook something other than ramen, and the second, but most important one, is to understand how to manage my money.
Stash gives you the necessary tools to manage finances, budget, and financially plan what the next steps are going to be. It provides tools to grow wealth whilst making investing, accessible to learn.
Stash really knows how to:
Manage money effortlessly
The app was created to make personal finances a learnable experience, giving you all the features you need to buy stocks for the first time, get rewards when spending money, and start saving for your future.
Investing money can sound overwhelming, but do not stress cause Stash teaches you
Download it for free and try it right now
How to invest, by starting small
Stash enables you to learn how to invest your money, starting with as little as $5, so as not to lose significant amounts of money due to rookie mistakes. It can usually feel overwhelming with the many investment options out there, but Stash narrows down the field of investment choices based on your risk level, so you can invest in comfort while continuing to learn with time and experience.
The rules of investing can be hard to follow, fortunately, Stash analyzes your portfolio and makes investment recommendations for you, ensuring you have the proper guidance throughout the process.
For example, if buying a whole stock sounds like too much for you, you can choose to buy a percentage of it and get a fractioned stock, which will still help you gain money.
This is just one of Stash’s features, making the investing experience enjoyable and headache-free.
Your investing and budgeting buddy will teach and empower you to take control of your financial decisions and future, and never leave you clueless.
As soon as you download the app and select your monthly plan, you’ll see how many options are available in individual stocks, funds, ETF’s, and learn investing terms along the way.
Signing up is easy and every plan offered enables you to learn at your own pace. As soon as you catch on to the basic principles and enjoy investing, you’ll want to move to the following membership and choose Stash +.
The premium plan will provide you with even more features to learn and invest in by giving you the chance to buy more significant stocks and eventually earn higher returns that can go directly into the savings account provided by Stash.
If learning how to invest at your own pace and being guided still leaves you uncertain, keep in mind that Stash gives you:
Easy banking and fast results
Within the banking1 section of Stash, you can set your own savings goals and automate savings to fund those goals. Users can track spending too, which helps you understand your expenses better and guide you when planning your monthly budget.
Forget how you think about online banking and its benefits: cashback is old school. Stash gives you the option to use their Stock-Back® Card2 for affiliated brands’ purchases, so instead of getting cash back, you will get stock rewards in exchange3. Does it get any better than that?! You are investing while you spend on your favorite brands.
Another major benefit of using Stash is the security behind the app; when you are handling money, you want a safe and secure product and this app gives you exactly that by using the latest security measures to protect your money, including 256-bit encryption, biometric authentication, and other cutting-edge technologies.
Why Stash
So to sum things up If you want to learn to cook ramen, ask me, I’m the expert, but If you are looking for an app that will make your financial life easier, Stash is hands down the best option for you.
Here are some of the pros and cons that I experienced, laid out for your convenience:
Pros:
- Automatic savings and investing tools
- Earn stock back through Stock-Back® Card purchases
- Low minimum investment requirement
- Educational content included with the app
- Substantial investing and business educational content
- Automatic rebalancing on managed portfolios
- Round-ups on assets and adding micro-investments
Cons:
- Automated IRA management in development.
- Wealth management services are currently unavailable.
Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. Investing involves risk and investments may lose value. Holdings and performance are hypothetical.
Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value.
1 Bank Account Services provided by Green Dot Bank, Member FDIC.
2 All rewards earned through use of the Stash Visa Debit card (Stock-Back® Card) will be fulfilled by Stash Investments LLC. Rewards will go to your Stash personal investment account, which is not FDIC insured. You will bear the standard fees and expenses reflected in the pricing of the investments that you earn, plus fees for various ancillary services charged by Stash. Stash Stock-Back® Rewards is not sponsored or endorsed by Green Dot Bank, Green Dot Corporation, Visa U.S.A., or any of their respective affiliates.
3 What doesn’t count: Cash withdrawals, money orders, prepaid cards, and P2P payment. If stock of the merchant is not available for a qualifying purchase, the security will be in shares of a predetermined ETF or from a list of predetermined publicly-traded companies available on the Stash Platform. See full terms and conditions.
Business & finance
DISNEY NEWS ROUNDUP: Fantastic Live Entertainment News, New Offerings at Epcot and Disney Springs, Magic Kingdom Attraction News, Avengers Campus Update & Limited-Edition Epcot Posters Now Available
This week we got some fantastic news regarding the return of live entertainment to Walt Disney World. There are also several new offerings over at Disney Springs and Epcot to check out. Rumors were finally debunked, and questions about the future of a Magic Kingdom original attraction were answered. Several of the Epcot posters everyone wanted last year are now available with more coming this year, and we got some pretty cool news out of California for Marvel fans. Check out the full details below in this week’s news roundup.
1 – Disney Announces the Return of ‘The Festival of the Lion King’
Something we have really missed at Walt Disney World is the fantastic entertainment offerings, particularly our absolute favorite, ‘The Festival of the Lion King.’ That’s why we’re so excited to learn that the show will return this summer. Learn more at the link below.
Click here to learn more about the return of ‘The Festival of the Lion King.’
The new year has seen new restaurants and new stores come to Disney Springs. We’ve already shared our excitement for Everglazed Donuts and Cold Brew, but there is so much more to explore. Learn more at the link below.
Click here for details on what’s new at Disney Springs and what is coming soon.
3 – Partial Opening of Expanded France Pavilion
We recently shared a video of the newly expanded France Pavilion and photos of the new section on our Instagram account. This week, we’re happy to share that Disney has opened part of this new section, including a walkway, a great view of the water, and new bathrooms. The area in front of Remy’s Ratatouille Adventure remains closed off by construction walls. Disney Cast Member, Zach Ridley, shared details on the design of the area. Learn more below.
View this post on Instagram
4 – President Joe Biden will be Added to the Hall of Presidents
On Wednesday, January 20, 2021, the Hall of Presidents closed for refurbishment. Disney confirmed a Joe Biden animatronic figure would be part of the show. No other details, such as how big a role he will play or other changes to the show, were released. Rumors were swirling that the Muppets would somehow be added to the show, but that “big announcement” was that all five seasons of The Muppets Show will be released on Disney+ on February 19.
5 – Tom Holland as Peter Parker in WEB SLINGERS: A Spider-Man Adventure Coming to Avengers Campus at Disneyland Resort
As we long for Disneyland and the new Avengers Campus to open we’ll have to take what we can get. Disney released photos and video of Tom Holland, the actor who plays Peter Parker, checking out the new attraction WEB SLINGERS: A Spider-Man Adventure. Here are all the details from Disney Cast Member Michael Ramierez:
When Avengers Campus opens at the Disneyland Resort at a future top-secret date, you will see a very familiar face inside the Worldwide Engineering Brigade – or WEB as the kids call it. As we shared before, Tom Holland reprises his role as Peter Parker for WEB SLINGERS: A Spider-Man Adventure.
We previously caught up with Tom who shared more details about his role in the attraction and his excitement for working with Walt Disney Imagineering on this new adventure. Check out this first look below!
In the WEB workshop, young engineers specialize in developing innovative technologies to equip and empower a new generation of Super Heroes. This workshop showcases the inventions of Peter Parker and the rest of the WEB Tech team, including their adorable Spider-Bots, which are designed to be robotic sidekicks capable of building anything a Super Hero might need. When Peter’s demonstration goes awry, the Spider-Bots are stuck in a replication loop, creating even more Spider-Bots!
Donning 3D glasses, your mission will be to test-drive the aspiring inventor’s latest invention, the WEB Slinger vehicle, and discover your web-slinging super powers! Through specially designed, innovative technology that recognizes body movements and gestures, you will reach out your hands and sling webs from your wrists, just like Spider-Man. As the WEB Slinger vehicles progress, you will virtually pass through several other Campus addresses, including Pym Test Kitchen, Avengers Headquarters and the Collector’s Fortress, also home to Guardians of the Galaxy – Mission: BREAKOUT! As the mission continues, Spider-Bots will become harder and harder to beat as they continue to multiply.
WEB SLINGERS: A Spider-Man Adventure is just one of the many addresses found inside Avengers Campus, an entirely new land dedicated to discovering, recruiting and training the next generation of heroes at Disney California Adventure park.
6 – Limited Release Screen Print Posters & Lithographs Inspired by EPCOT Coming to shopDisney.com
Last year Disney unveiled big plans for Epcot and the surprise stars of the show were the very cool retro styled attraction posters. We received a ton of questions from readers where they could buy copies of the posters. Until now the disappointing answer was, “you can’t.” However, we have some great news! Disney is now selling some of the posters online with more to be released as the year goes on. Disney Cast Members Anthony Armenia shares more below:
For all of our EPCOT fans like myself, I’m excited to share that if you were unable to get your hands on last year’s limited edition EPCOT posters, you’re in luck! A new collection of stunning screen print posters and lithographs featuring favorite attractions andmagical park experiences of the past and future are coming to shopDisney.com throughout 2021!
“Make way, make way!” The first screen print poster themed to the upcoming Journey of Water, Inspired by “Moana” experience is available now and has kicked off this yearlong series of limited release posters featuring the four EPCOT neighborhoods that are part of the park’s historic transformation currently underway. The initial set of posters – launching over the next few months – highlight experiences from the World Nature neighborhood including Soarin’ Around the World, The Land and The Living Seas.
Each poster in the collection is 24×36 inches in size and differ from previous EPCOT posters as they are screen printed on archival black paper and feature glossy, metallic art finishes! Stay tuned because new posters will be released each month throughout the year and once a new piece launches, the previous design will no longer be available…
Along with the new posters, each quarter, you’ll be able to collect fun 14×18 inch open edition EPCOT lithographs of the posters along with others from the accompanying neighborhood also available now on shopDisney.com.
For a no obligation, FREE Quote on a Disney vacation package, please contact our travel partner Magical Vacation Planner at 407-442-0227 (407-442-0215 for Spanish). You can also request a FREE quote online by Clicking HERE.
The post DISNEY NEWS ROUNDUP: Fantastic Live Entertainment News, New Offerings at Epcot and Disney Springs, Magic Kingdom Attraction News, Avengers Campus Update & Limited-Edition Epcot Posters Now Available appeared first on DisneyLists.com.
This content was originally published here.
Crypto Derivatives Surge, Bitcoin Options Open Interest Climbs to $9.6 Billion
Bitcoin options open interest has reached $9.6 billion according to derivatives market data as the metric is nearing the high captured on January 7, 2021. Moreover, the aggregate open interest in bitcoin futures is steadily nearing all-time highs.
While cryptocurrency spot markets have consolidated, bitcoin-based derivatives markets have seen continuous action. At the time of publication, both bitcoin futures and options open interest has been rising significantly.
For instance, researchers at skew.com recently tweeted that “bitcoin futures open interest [is] quickly bouncing back to a new all-time high.” Skew also added that CME Group was now the largest open interest “by some margin.” Data from exchanges dealing with bitcoin futures shows that open interest continues to climb.
Okex holds the reins as far as bitcoin futures open interest today, followed by the platforms CME and Binance. These three leading bitcoin derivatives markets are followed by Huobi, Bybit, FTX, Bitmex, Deribit, Bitfinex, Kraken, and Coinflex respectively.
In addition to bitcoin futures nearing all-time highs in terms of open interest, ethereum futures and options have seen increased demand as well as the crypto asset’s spot markets near all-time price highs as well. Skew analytics indicates total ETH options interest is around $1.7 billion with Deribit commanding $1.5 billion. Deribit’s ETH options open interest is followed by Okex ($153M), Bitc.com ($41M), and Huobi ($9.7M).
Alongside the desire for crypto futures, bitcoin options have increased substantially during the first month of 2021. The estimated notional value of all open bitcoin options positions is $9.6 billion with an expiry set for January 29, 2021.
The crypto exchange Deribit commands the lion’s share of BTC options with 84.37% ($8.1B) of open interest. Deribit is followed by derivatives platforms such as Okex ($511M), Bit.com ($470M), CME ($398M), Ledgerx ($176M), and Huobi ($9.4M).
The aggregate of open interest on bitcoin options has swelled progressively over the last six months. Data from Bybit’s 24-hour long/short ratio shows shorts are up 50.64% while longs are 49.36%.
BTC longs and shorts stemming from Bitfinex according to Tradingview data shows longs are increasing while BTC/USD shorts have remained low.
The increased demand for bitcoin-based derivatives, follows BTC’s lifetime all-time price high of $42,000 recorded only 12 days ago. At the time of publication, BTC/USD spot market prices are still down 11.8% since touching the $42k handle.
Meanwhile, with the 258,818 BTC in options open interest, 99,753 BTC or $3.7 billion is set to expire in ten days.
What do you think about the recent increase in open interest for bitcoin derivatives like futures and options? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Skew.com, Twitter,
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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Stash app – the tool to manage your finances, with all the tools to upgrade them
Big Tech And White House Staff Working Hard To Manipulate Online Response To Favor Of Biden
