Mary Smith

Sunday, 21 February 2021

Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET

Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET
Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET

The Purpose Bitcoin (BTC) exchange-traded fund debuted on the Toronto Stock Exchange on Feb. 18 and has quickly ramped up trading volumes of about $400 million worth of shares in two days. This is quite impressive, considering that the equity market in Canada is only a fraction of the size of the U.S. markets. This shows strong demand for Bitcoin and investor’s preference to take the ETF route to establish fresh positions.

Last week, Bitcoin reached another important milestone when it hit the critical $1 trillion market capitalization on Feb. 19, making it the sixth asset on the list of top market cap companies in the world.

The involvement of institutional investors and a market cap of over $1 trillion could allay the concerns of manipulation and liquidity raised by the U.S. Securities and Exchange Commission in the previous years as it rejected Bitcoin ETF applications.

Crypto market data daily view. Source:Coin360

In a recent interview with CNBC, Ark Invest CEO Cathie Wood said that “the probability of an ETF has gone up.” Wood said the new SEC chairman Gary Gensler, who taught a digital currency class at the Massachusetts Institute of Technology, could be more open to crypto, increasing the likelihood of an approved Bitcoin ETF.

Although Bitcoin’s fundamental factors continue to improve, the near term could experience some turbulence due to the steepening of the U.S. Treasury curve.

Let’s analyze the charts of the top-5 cryptocurrencies that indicate the possibility of the resumption of the uptrend in the short term.

BTC/USD

Bitcoin broke above the resistance line of the ascending channel on Feb. 19 and the bulls have managed to sustain the breakout. This suggests that traders continue to buy at higher levels.

BTC/USDT daily chart. Source: TradingView

The BTC/USD pair had formed a Doji candlestick pattern on Feb. 20, indicating indecision among the bulls and the bears about the next directional move. That uncertainty has resolved to the upside today and the bulls will now try to propel the price to $60,974.43.

The 20-day exponential moving average ($47,450) is sloping up and the relative strength index (RSI) is in the overbought zone, which indicates that bulls have the upper hand.

Contrary to this assumption, if the price re-enters the channel, the bears will try to pull the price down to the 20-day EMA. A break below the channel will indicate a possible change in trend and the pair may then correct to the 50-day simple moving average.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the pair remains in a strong uptrend and the bulls have aggressively purchased the dips to the 20-EMA. The bears will try to stall the current uptrend at the resistance line of the ascending channel.

If they succeed, the pair may again drop to the 20-EMA. A bounce off this support will suggest that the trend remains strong and the bulls are not waiting for a deeper correction to buy. The momentum could pick up if the bulls can propel and sustain the price above the channel.

On the contrary, if the bears can sink the price below the 20-EMA, it will suggest profit-booking by traders. The trend could weaken if the pair plunges below the channel.

AVE/USD

AAVE has been consolidating between $392.50 and $545 for the past few days. A consolidation after a strong uptrend is a positive sign as it suggests that traders are not rushing to the exit because they anticipate higher levels in the future.

AAVE/USDT daily chart. Source: TradingView

The 20-day EMA ($427) is flat and the RSI is just above 56, which suggests that the range-bound action may continue for a few more days.

If the buyers can push the price above $480, the AAVE/USD pair may rise to $545. A breakout and close above the $545 to $581.667 resistance zone could start the next leg of the uptrend that may reach $697.50 and then $814.397.

On the other hand, if the bears can sink and sustain the price below $392.50, it will suggest that supply exceeds demand. That could start a deeper correction to the 50-day SMA ($297).

AAVE/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the price has been oscillating between $500 and $392.50. If the bears sink the price below the $392.50 support, the pair could drop to $300 and then to the 61.8% Fibonacci retracement level at $267.094.

Contrary to this assumption, if the bulls can push the price above the 50-SMA, a move to $500 is possible. A break above this resistance will enhance the prospects of a move to $545 and then $581.667.

TOM/USD

Cosmos (ATOM) is currently correcting in a strong uptrend. While the pullback is five days old, the bears have not yet been able to pull the price down to the 38.2% Fibonacci retracement level at $19.007. This shows a lack of sellers at lower levels.

ATOM/USDT daily chart. Source: TradingView

A shallow correction is usually a sign of strength and it increases the possibility of a retest of the $26.55 overhead resistance. The rising moving averages and the RSI in the positive territory suggest that bulls have the upper hand.

If the bulls can thrust the price above $26.55, the next leg of the uptrend could begin. The ATOM/USD pair could then rally to $32.173. If the bulls can conquer this level, the up-move may extend to $40.

On the contrary, if the pair continues to fall, a drop to the 20-day EMA ($18.19) is possible. A strong bounce off this support could keep the uptrend intact but a break below it will suggest a deeper correction to the 61.8% retracement level at $14.347.

ATOM/USDT 4-hour chart. Source: TradingView

The 4-hour chart is currently correcting inside a descending channel. The moving averages are on the verge of a bearish crossover and the RSI is in the negative territory, indicating a minor advantage to the bears.

However, if the price rises from the support line of the descending channel, it will indicate accumulation at lower levels. On a break above the moving averages, a move to the resistance line of the channel is possible.

A breakout and close above the channel could result in a retest of $26.55. On the other hand, a break below the channel may weaken sentiment. The pair could then decline to the 50% retracement level at $16.677.

NEO/USD

NEO broke and closed above the $47.444 resistance on Feb. 19. The bears attempted to fake this breakout and trap the aggressive bulls on Feb. 20 when they pulled the price back below $47.444.

NEO/USDT daily chart. Source: TradingView

However, the bulls had other plans. They aggressively purchased the dip and have pushed the price above the psychological resistance at $50 today. This may start the next leg of the uptrend that could reach $60.373 and then $64.95.

The upsloping moving averages and the RSI in the overbought territory indicate that bulls are in control.

But if the bulls fail to sustain the price above $50, it will suggest that traders are booking profits at higher levels. A break below the 20-day EMA ($37.80) will signal a possible change in trend.

NEO/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an ascending triangle, which has a pattern target at $58.588. Generally, the price turns down and retests the breakout level but sometimes, when the trend is strong, the price only consolidates before resuming the up-move.

The bulls are currently defending the $50 support. If the price rises from the current level and breaks above $54.191, the uptrend could resume.

This positive view will invalidate if the pair turns down from the current level and breaks below the triangle. Such a move may result in a fall to $36.30.

VET/USD

After the sharp rally from $0.026714 to $0.060774, VeChain (VET) has largely held the 38.2% support at $0.047763 on a closing basis, which shows accumulation at lower levels. The rising moving averages and the RSI in the overbought zone suggest the path of least resistance is to the upside.

VET/USDT daily chart. Source: TradingView

If the bulls can drive the price above the overhead resistance at $0.060774, the VET/USD pair could start the next leg of the up-move. The target level to watch on the upside is $0.085172 and then $0.10.

Contrary to this assumption, if the bulls fail to propel the price above the overhead resistance, the VET/USD pair may consolidate between $0.060774 and $0.0424 for a few more days. The trend will tilt in favor of the bears if they can sink and sustain the price below $0.0424.

VET/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that both moving averages are flat and the RSI is just above the midpoint, indicating a balance between supply and demand.

However, the pair has formed an ascending triangle pattern that will complete on a breakout and close above $0.060774. This bullish setup has a pattern target of $0.079148.

On the other hand, if the price slips below the trendline of the ascending triangle, it will invalidate the pattern and open the doors for a fall to $0.042.

Title: Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET
Sourced From: cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-aave-atom-neo-vet
Published Date: Sun, 21 Feb 2021 19:45:01 +0000

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Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET
Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET was originally published here https://observednews.blogspot.com/2021/02/top-5-cryptocurrencies-to-watch-this.html

Monster bull flag for Yearn.finance puts $200,000 YFI price in play

Monster bull flag for Yearn.finance puts $200,000 YFI price in play
Monster bull flag for Yearn.finance puts $200,000 YFI price in play

Bitcoin (BTC) bears looked on in disbelief as BTC price rallied to over $57,800 on Feb. 21, sparking a major altcoin rally. It seems bull flags are being printed one after the other on coins like Polkadot and Cardano, which are playing out predictably.

However, one coin that is not getting the limelight it deserves right now is Yearn.finance (YFI), and at present, it looks like a period of aggressive selling could be coming to an end with a potential 50% move to the upside being imminent. But first, let’s take a look at why it has been struggling recently.

Troubled waters for Yearn

YFI/USD 1-hour candle chart. Source: TradingView

Much to the dismay of investors and traders on Jan. 20, Yearn.finance retweeted a gif of Pepe the Frog dressed as a wizard, which linked to the proposal entitled “YIP-57: Funding Yearn’s Future.”

The article outlined the plans to mint 6,666 new YFI tokens for the Yearn treasury, thus increasing the YFI supply by more than 20% and in turn, a 24.45% red candle was printed on the daily chart.

After the aggressive selling eased off, the price slowly gained traction again. However, about two weeks later on Feb. 4, an $11m yDAI exploit occurred, spurring on the following tweet:

“We have noticed the v1 yDAI vault has suffered an exploit. The exploit has been mitigated. Full report to follow.”

This led to a further sell-off for YFI, printing another 15% red candle in a single day. Yet despite all this bad news, the price unexpectedly rallied 50% to a new all-time high at $52,700, three days before Bitcoin cracked the $50K barrier.

But was this unexpected? Or was it just a bull flag playing out albeit over a slightly extended period of time due to knee-jerk reaction sell-offs?

Monster bull flag on the daily

YFI/USD 1-day candle chart. Source: TradingView

Over on the daily chart, we can see that a 52% candle was printed on Jan. 7, and after the price consolidated over a period of 10 days, the price broke out of a classic bull flag structure before the bad news started circulating, causing holders to lose faith in founder Andre Cronje.

However, once the news had passed it was clear from the gradual 52% price increase that bullish investor sentiment had returned, which just so happened to be the same size as the flagpole on the somewhat failed bull flag.

The good news for YFI holders now is that the charts are now showing the exact same pattern playing out with a 50% candle, which would bring the price target up to $65,770

$200,000 in play for YFI price

YFI/BTC 1-day candle chart. Source: TradingView

In 2020, YFI was trading higher than Bitcoin, and even once you factor in the newly minted tokens, the upside is simply staggering.

Without factoring in the extra tokens, the upside to return to its previous sats value would be in excess of 450% from the current price.

However, even by deducting 20% off this level, which would represent a move to the 0.786 Fibonacci (fib) level, this still puts a potential upside target around 350%. In other words, this puts YFI at an eye-watering $200,000 per coin.

DeFi is so hot right now

UNI/USD 2-hour candle chart. Source: TradingView

Whilst the prospect of paying $200,000 per coin may seem insane, you only have to look at how well other projects in the DeFi space are performing. Uniswap, SushiSwap and PancakeSwap all managed to accomplish 10x since Christmas.

But all of these have fully rebounded beyond their previous sats value, so now is the time to look for something that hasn’t made this move yet, and right now, in my opinion, the largest most obvious one to go next is Yearn.

You only have to look at the UNI/BTC chart to see that right now. Everything about YFI screams “buy,” where even a move just to the 0.236 Fibonacci level would represent a 70% increase in price.

UNI/BTC 1-day chart. Source: TradingView

Bullish and bearish scenarios

If there’s one thing Yearn.finance has taught us, it is always to expect the unexpected when testing in production.

YFI/USD 1-hour candle chart. Source: TradingView

Right now, there’s a heavy point of control around $39,000 that price keeps revisiting and serving as support.

Should this level continue to hold, a move to the upper resistance of the current channel around $55,485 is where I would be first targeting, before the wider breakout to $65,000.

Should $39,000 fail to hold, I would be looking around $32,500 as support, something I’m not worried about unless another Andre project gets rugged.

The views and opinions expressed here are solely those of @officiallykeithand do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Title: Monster bull flag for Yearn.finance puts $200,000 YFI price in play
Sourced From: cointelegraph.com/news/monster-bull-flag-for-yearn-finance-puts-200-000-yfi-price-in-play
Published Date: Sun, 21 Feb 2021 14:00:00 +0000

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Monster bull flag for Yearn.finance puts $200,000 YFI price in play
Monster bull flag for Yearn.finance puts $200,000 YFI price in play was originally published here https://observednews.blogspot.com/2021/02/monster-bull-flag-for-yearnfinance-puts.html

Friday, 19 February 2021

Mastercard and also Island Pay Team Up To Provided Bahamians Greater Accessibility To CBDC Stable Symbols

Mastercard and Island Pay have launched a Bahamian prepaid card. The card will give Bahamians extra flexibility in how they shop and pay using the country’s CBDC. Residents will now be able to load CBDC stable tokens onto a prepaid Mastercard and give people the option to convert the digital current to traditional Bahamian dollars instantly. One can use the card to pay for goods and services anywhere where Mastercard is accepted.
The Mastercard News Room made the following statement:
“The digital Sand Dollar is issued by the Central Bank of The Bahamas and carries the same value and consumer... Take a look at the latest crypto news reports here https://observednews.com
Mastercard and Island Pay Team Up To Given Bahamians Greater Access To CBDC Stable Tokens
https://www.scoop.it/topic/cryptocurrency-news-and-markets

Mastercard and Island Pay have launched a Bahamian prepaid card. The card will give Bahamians extra flexibility in how they shop and pay using the country’s CBDC. Residents will now be able to load CBDC stable tokens onto a prepaid Mastercard and give people the option to convert the digital current to traditional Bahamian dollars instantly. One can use the card to pay for goods and services anywhere where Mastercard is accepted.
The Mastercard News Room made the following statement:
“The digital Sand Dollar is issued by the Central Bank of The Bahamas and carries the same value and consumer protections as a traditional Bahamian dollar. The digital currency can be used to facilitate government disbursements, offer additional payment choices and build a more inclusive economy. In The Bahamas, there are 700 small islands and more than 5000 square miles of water. Cash money movement becomes costly, which makes a central bank digital currency (CBDC) a preferred digital payment in the region. In the future, the Sand Dollar will be offered to tourists.”
Opening Sand Dollar To The Masses
Initially piloted in 2019, the Sand Dollar became the first fully- deployed digital version of a country’s fiat currency in October 2020. The Sand Dollar used to be exclusively accessed by registered users through an app provided by Island Pay – a local payment service provider – at select merchants
John Rolle, Central Bank of The Bahamas Governor, said:
“We welcome this approach to combining digital currency use with access to foreign currency and other payment outlets. The Central Bank of The Bahamas will continue to encourage fintech developments that tie into the Sand Dollar infrastructure while allowing us to satisfy best global practices for regulation of the space.”
It is believed that the combination of Mastercard’s tech and broad user base along with Island Pay’s technology platform will be robust enough to reduce the operational distribution costs associated with traditional cash
Richard Douglas, the co-founder of Island Pay, said:
“By working closely with the Central Bank of The Bahamas and Mastercard, we are able to issue a prepaid card unlike any other in the world. We are now able to bring immediate, critical benefits to our customers at a time when they are looking to find new, innovative ways to pay. The Bahamas is leading innovation in CBDCs, and we’re thrilled to be able to play an important role in helping to democratize access to currency, especially in areas that are currently underserved.”
Mastercard’s Venture Into The Crypto Space
On Feb 10, Mastercard announced that it would begin supporting select cryptocurrencies on its payment network. Mastercard also has a virtual testing environment that enables the simulation of issuance, distribution, and exchange of CBDC Stable Tokens between various parties.
Plus, with 89 blockchain patents globally and an additional 285 blockchain applications pending worldwide, Mastercard has one of the world’s largest blockchain patent portfolios.
Raj Dhamodharan, executive vice president of Digital Asset Blockchain Products Partnerships at Mastercard, noted:
“This partnership is an example of how the private and public sector can rethink what’s possible while delivering the strongest levels of consumer protection and regulatory compliance. We’re creating a lot more possibilities for governments, shoppers, and merchants, allowing them to transact in an entirely new form of payment.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Title: Mastercard and Is...

https://www.youtube.com/watch?v=dW3lP4RMsic
Mastercard and also Island Pay Team Up To Provided Bahamians Greater Accessibility To CBDC Stable Symbols was originally published here https://observednews.blogspot.com/2021/02/mastercard-and-also-island-pay-team-up.html

Thursday, 18 February 2021

Bitcoin investor discusses why BTC exceeding Ethereum is simply 'straightforward math'

Bitcoin (BTC) has been outperforming Ether (ETH) in the past several days as BTC surged above $50,000 for the first time in history. Meanwhile, one popular cryptocurrency trader explains that this is “simple math” given the growing institutional demand for BTC. BTC vs. ETH (orange) performance in February. Source: Tradingview
While ETH is beating BTC in USD terms year-to-date, Bitcoin is gaining steam in February, up 60% compared to Ether’s 50%.
Ether did rally by roughly 6% over the last 24 hours as Grayscale added 20,000 ETH to its Ethereum Trust. However, Grayscale’s BTC stash is worth $34 billion, which... Check out the latest cryptocurrency news here https://observednews.com/category/cryptocurrency-news
Bitcoin trader explains why BTC outperforming Ethereum is just ‘simple math’
https://www.scoop.it/u/observed-news

Bitcoin (BTC) has been outperforming Ether (ETH) in the past several days as BTC surged above $50,000 for the first time in history. Meanwhile, one popular cryptocurrency trader explains that this is “simple math” given the growing institutional demand for BTC. BTC vs. ETH (orange) performance in February. Source: Tradingview
While ETH is beating BTC in USD terms year-to-date, Bitcoin is gaining steam in February, up 60% compared to Ether’s 50%.
Ether did rally by roughly 6% over the last 24 hours as Grayscale added 20,000 ETH to its Ethereum Trust. However, Grayscale’s BTC stash is worth $34 billion, which dwarfs its ETH holdings of $5.8 billion. Grayscale ETH Trust flows. Source: Bybt.com
More institutional demand for Bitcoin vs. Ether
Meanwhile, a pseudonymous trader known as Bitcoin Jack noted that despite these latest ETH inflows, one single entity, namely MicroStrategy, is adding 20,000 BTC worth almost $1 billion to its balance sheet.
According to data compiled by Bitcointreasuries, companies are currently holding over 1.2 million BTC worth over $48 billion dollars — and that figure does not yet include Tesla.
In other words, there is a big difference between the amount of Bitcoin that is being acquired by institutions compared to Ether. Based on this trend, the trader said BTC outperforming ETH is not a surprise. He said:
“Grayscale adds 20,000 $ETH, for its clients, today MicroStrategy, a single entity, adds 20,000 $BTC to its balance sheet, anytime now Bitcoin outperforming shouldn’t be a surprise, just simple math.”
Retail and institutional mania
In the near term, one variable that could catalyze a larger accumulation trend for Ether is the listing of Ethereum futures by CME. As Cointelegraph reported, CME listed Ethereum futures on Feb. 9, the day ETH broke out and achieved a new all-time high.
It has been less than two weeks since the CME Ethereum futures market launched, and many trading desks and institutions are likely still in the process of preparing their infrastructure. Hence, the actual demand and trading volume for ETH in the CME Ethereum futures market will likely take time to grow, as seen with Bitcoin, until funds begin actively trading the asset.
At the same time, with the cryptocurrency bull market is in full, major investment funds and retail investors may be experiencing FOMO, according to Paolo Ardoino, the CTO at Bitfinex. He explained:
Paolo Ardoino, CTO at Bitfinex: “Major investment funds and retail investors alike may be experiencing FOMO (fear of missing out) as bitcoin’s market cap surges towards US$1 trillion. As bitcoin hovers around US$51,000, Ethereum is also touching record highs. Both technologies represent a monumental advance with which even the most senior figures in the digital token space are still grappling. Rather than following blindly or precipitately, one should first familiarise oneself with this amazing tech, whether one is a financial goliath or novice retail investor.”
Lastly, one major factor that underpins Bitcoin’s “digital store of value” proposition is the capped supply of BTC contrary to the unknown total supply of Ether. Therefore, besides the brand image, this digital scarcity aspect is likely what’s driving institutions first and foremost to Bitcoin. Meanwhile, other cryptocurrencies like ETH remain alternatives or “altcoins” and are typically considered for the purpose of diversifying, albeit in much smaller amounts if any, as exemplified by Grayscale’s holdings.
Title: Bitcoin trader explains why BTC outperforming Ethereum is just ‘simple math’ Sourced From: cointelegraph.com/news/bitcoin-trader-explains-why-btc-outperformi...

https://www.youtube.com/watch?v=BuDJBy3c7Rg
Bitcoin investor discusses why BTC exceeding Ethereum is simply 'straightforward math' was originally published here https://observednews.blogspot.com/2021/02/bitcoin-investor-discusses-why-btc.html

‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level
‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000.

According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.

$35,000 Bitcoin? So last month

Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February.

“The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,” they wrote in a tweet on Feb. 17.

“Looks like $48k is the new $35k now.”

BTC/USD volume chart with support levels marked. Source: Glassnode/ Twitter

The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.

Despite wobbling around the $50,000 mark, any drops were quickly bought up, indicating solid buyer support in place at higher levels regardless of the pace of price gains or any negative external narrative surrounding Bitcoin.

“Under capital flow models, it would take a black swan to break $36k on a daily close,” statistician Willy Woo added in response to the Glassnode findings.

He described Bitcoin’s current position as being in the “middle phase” of a bull market.

Saylor: No more 80% pullbacks

Allemann and Happel were meanwhile not alone. In his latest appearance on the podcast series from “The Bitcoin Standard” author Saifedean Ammous at the weekend, Michael Saylor, CEO of MicroStrategy, claimed that Bitcoin would not see another 80% price pullback like in 2018.

“The volatility is not the same; if you look at the drawdowns, they’re not the same,” he told Ammous.

“Like when Bitcoin ran up to $40,000 and traded back down to $30,000, that was a 25% retracement, not an 80% retracement.”

As Cointelegraph reported, MicroStrategy plans to purchase another $900 million of BTC in the short term as per an announcement this week.

Title: ‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level
Sourced From: cointelegraph.com/news/insane-bitcoin-price-consolidation-means-48k-is-the-new-btc-support-level
Published Date: Thu, 18 Feb 2021 12:00:00 +0000

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‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level
‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level was originally published here https://observednews.blogspot.com/2021/02/insane-bitcoin-price-consolidation.html

Wednesday, 17 February 2021

World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin

World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin
World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin

The world’s largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today.

Rick Rieder, the managing director of BlackRock, the world’s largest asset manager, confirmed that the company is looking into Bitcoin. “We’ve started to dabble a bit into it,” he said, refusing to put a target allocation the company has.In the interview with CNBC’s SquawkBox, Rieder did say that diversifying one’s portfolio in the current economic reality does make sense. He also said that BlackRock is currently sitting on a lot more cash than they have historically had because traditional hedges don’t work.

We’re holding a lot more cash than we’ve held historically because interest rates don’t work as a hedge and diversifying in other assets makes some sense. So, holding some portion of what you hold in cash and things like crypto seems to make some sense to me.

As CryptoPotato reported in January, BlackRock filed two Prospectus documents with the United States Securities and Exchange Commission (SEC).These were on behalf of BlackRock Funds V and BlackRock Global Allocation Fund Inc.In both documents, the text reads that the company may engage in trading cash-settled Bitcoin futures contracts.

Certain Funds may engage in futures contracts based on bitcoin. Bitcoin is a digital asset whose ownership and behavior are determined by participants in an online, peer-to-peer network that connects computers that run publicly accessible or “open source.” […] The only bitcoin futures in which the Funds may invest are cash-settled bitcoin futures traded on commodity exchanges registered with the CFTC.”

Title: World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin
Sourced From: cryptopotato.com/worlds-largest-asset-manager-blackrock-confirms-theyre-looking-into-bitcoin/
Published Date: Wed, 17 Feb 2021 16:34:43 +0000

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World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin
World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin was originally published here https://observednews.blogspot.com/2021/02/worlds-largest-asset-manager-blackrock.html

Cosmos rate spikes to a brand-new all-time high as 'Stargate' upgrade techniques

The price of Cosmos’ ATOM has increased 240% since the beginning of February as excitement builds for the approaching Stargate upgrade on Feb. 18 that will help connect all Cosmos-based chains together using Inter-Blockchain Communication (IBC).
Data from Cointelegraph Markets and TradingView shows that ATOM was trading at a price of $7.83 on Feb. 1 before a series of positive announcements, including the ability to stake ATOM on Binance, helped lift the token to a new all-time high of $26.68 on Feb. 16. ATOM/USDT 4-hour chart. Source: TradingView
Stargate has been a much-anticipated upgrade for the Cosmos community, as the... Take a look at the latest crypto news reports here https://observednews.com
Cosmos price spikes to a new all-time high as ‘Stargate’ upgrade approaches
https://www.scoop.it/topic/cryptocurrency-news-and-markets

The price of Cosmos’ ATOM has increased 240% since the beginning of February as excitement builds for the approaching Stargate upgrade on Feb. 18 that will help connect all Cosmos-based chains together using Inter-Blockchain Communication (IBC).
Data from Cointelegraph Markets and TradingView shows that ATOM was trading at a price of $7.83 on Feb. 1 before a series of positive announcements, including the ability to stake ATOM on Binance, helped lift the token to a new all-time high of $26.68 on Feb. 16. ATOM/USDT 4-hour chart. Source: TradingView
Stargate has been a much-anticipated upgrade for the Cosmos community, as the introduction of IBC will enable the exchange of transactions of value and data across compatible chains. Cosmos-based blockchains are currently siloed and unable to communicate or interact in a secure way. IBC is expected to help bring the separate chains together into the new Cosmos network ecosystem. Other features included in the upgrade are the Protobuf migration, which helps accelerate front-end development and improve overall blockchain performance, and state sync, which helps new nodes synchronize 200 times faster and participate in consensus in just minutes rather than days.
Optimism grows following the delayed release of Stargate
Excitement for Stargate’s release has been building for months while ATOM price traded flat. Price action began to pick up on Jan. 15 when it was announced that the Stargate launch, which was originally scheduled for Jan. 28, would be postponed until Feb. 18. In the past few days, meanwhile, VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for ATOM, prior to the recent price rise. The VORTECS score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. Cointelegraph Markets Pro – VORTECS Score (green) vs. ATOM Price
As seen in the chart above, the VORTECS score began rising from a low of 55 on Feb. 11 to a peak score of 82 on Feb. 14. During that time, ATOM price traded sideways and experienced a brief drop, just as the VORTECS score was peaking. The dip was short lived, however, and the price soon began an 80% rally to its new all-time high of $26.68 on Feb. 16.
The launch of Stargate represents an important milestone on the Cosmos development roadmap. But the IBC integration is also expected to be followed by separate Tendermint-based projects like Band Protocol and Kava joining the Cosmos network for greater blockchain interoperability.
Title: Cosmos price spikes to a new all-time high as ‘Stargate’ upgrade approaches Sourced From: cointelegraph.com/news/cosmos-price-spikes-to-a-new-all-time-high-as-stargate-upgrade-approaches Published Date: Tue, 16 Feb 2021 21:01:48 +0000 Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities. 2021's Most Anticipated Growth Wealth-Building Opportunity Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand...

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Cosmos rate spikes to a brand-new all-time high as 'Stargate' upgrade techniques was originally published here https://observednews.blogspot.com/2021/02/cosmos-rate-spikes-to-brand-new-all.html