El gigante bursátil Cboe Global Markets podría volver a cotizar los futuros del bitcoin, según ha sugerido su consejero delegado, Ed Tilly.

En listar futuros de bitcoin en diciembre de 2017

„Todavía estamos interesados en el espacio, no hemos renunciado a él“, dijo Tilly a Bloomberg en un informe publicado el jueves. „Estamos interesados en construir toda la plataforma. Hay mucha demanda por parte de los minoristas y las instituciones, y tenemos que estar ahí.“

Cboe fue la primera bolsa regulada del mundo en listar futuros de bitcoin en diciembre de 2017, pero decidió detener la oferta a partir de junio de 2019 por razones desconocidas. Sin embargo, la bolsa en ese momento no había descartado la posibilidad de volver a listar criptoderivados. Había dicho que estaba „evaluando“ su enfoque.

El rival de Cboe, CME Group, ha estado ofreciendo futuros de bitcoin desde diciembre de 2017 y es el mayor lugar regulado en el espacio. CME tenía un interés abierto de casi 3.000 millones de dólares para sus futuros de bitcoin hasta el 24 de marzo, solo después de Binance, OKEx y Bybit, que son bolsas no reguladas.

La cotización de un fondo cotizado en bolsa de bitcoin

Además de los futuros de bitcoin, Cboe parece estar también interesada en la cotización de un fondo cotizado en bolsa (ETF) de bitcoin. Las gestoras de activos VanEck y WisdomTree han solicitado por separado un ETF de bitcoin que cotice en la bolsa Cboe bZx.

„Estamos muy interesados en avanzar en la aprobación del ETF de VanEck“, dijo Tilly.

Cboe también está preparada para lanzar índices de criptomonedas este año tras firmar una asociación con la empresa de software de negociación CoinRoutes el pasado mes de diciembre.

„As Bitcoins físicas são uma raridade, são como as pinturas de Picasso e Van Gogh eram naqueles dias. Ninguém percebeu o quão raros eles eram“.

Desde 2011, um grupo de entusiastas e colecionadores tem estado obcecado com a manifestação física de Bitcoin.

À primeira vista, a Bitcoin física parece uma contradição aos termos-chave que a definem, de modo que uma moeda virtual sem confiança e imediatamente transferível se torna uma moeda do mundo real que tem todas as desvantagens do dinheiro vinculado à Terra. Mas também há inúmeras vantagens quando se trata de privacidade, armazenamento e facilidade de uso – e elas também parecem bem legais.

„Muitas pessoas sabem sobre Bitcoin, mas muito poucas pessoas realmente possuem Bitcoin. Ainda menos Bitcoin físico“, explica Bobby Lee, que é proprietário de uma moeda de 10 BTC desde 2011 e projetou e produziu suas próprias moedas sob a marca da casa da moeda BTCC até 2018. Ele acrescentou:

„As Bitcoins físicas são uma raridade, elas são como as pinturas de Picasso e Van Gogh eram naqueles dias. Ninguém se deu conta de como eram raros“. Espero que estas Bitcoins físicas ganhem em popularidade e apreciação por conhecedores do mundo inteiro“.

A Bitcoin física normalmente vem na forma de moedas de metal, com a chave privada escondida atrás de um adesivo holográfico à prova de adulteração. Embora sejam muito apreciadas por colecionadores, Lee disse que as moedas também são práticas.

„A realidade é que é impossível para mim enviar pessoas Bitcoin se elas são novas no Bitcoin“, disse ele, referindo-se à curva de aprendizagem íngreme do Bitcoin digital para montar carteiras e frases de sementes. „Bitcoin físico, não há necessidade de permissão, eu apenas a entrego a eles“. Recentemente, meu primo casou-se em Toronto, Canadá, e eu pude dar-lhes um pouco de Bitcoin como presente e eles não precisaram montar uma carteira, eu só a enviei pelo correio“.

Um pedaço de história

Para o ‚criptonumista‘ Elias Ahonen, autor da Enciclopédia das Moedas Físicas Bitcoin e Crypto-Currencies, a Bitcoin física é também um marcador da história. „Estas moedas são a manifestação física, ou artefatos, de Bitcoin em todas as fases técnicas“, diz ele. „Qualquer coisa que aconteceu com os mineiros do início da era Bitcoin não podemos realmente apontar, mas estas moedas físicas que podemos e os colecionadores acham que pessoalmente têm significado e também algo que vale a pena preservar“.

Ahonen foi um estudante do primeiro ano de ciências políticas na Universidade Wilfred Laurier em Waterloo, quando se interessou pela Bitcoin pela primeira vez.

„Eu tinha acabado de comprar minha primeira Bitcoin em uma troca e, não sendo tecnicamente sólida, estava convencido de que ia perder minha chave privada da carteira e ficar trancado fora de minha Bitcoin“, disse ele: „Então decidi, em vez disso, comprar as Bitcoins físicas que continham a chave privada dentro delas“.

Isto se revelou um movimento sábio, pois ele de fato perdeu o acesso a sua carteira original, felizmente com menos de 1 BTC dentro dela. E, claro, isso levou a uma carreira totalmente nova como historiador de Bitcoin e corretor de moedas. „Levou-me ao redor do mundo em todos os tipos de aventuras onde eu pego meio milhão de dólares em moedas em um café do aeroporto“, disse ele.
Bitcoin físico
O Bitcoin físico parece ser uma contradição em termos. (Wikipedia)
Indústria de vários bilhões de dólares

Números precisos para o tamanho da indústria são difíceis de obter, mas quase 3,25 bilhões de dólares de Bitcoin (a preços atuais) foram cunhados sob a marca original da moeda ‚Casascius‘ entre 2011 e 2013. Mais de 1,5 bilhões de dólares (ou 44.000 BTC) continuam sem ser gastos e em estado selvagem.

Uma das mais valiosas é a moeda de 1000 BTC, três das quais permanecem por abrir das cinco cunhadas. „É na verdade a moeda mais valiosa do mundo“, disse Ahonen. Vale hoje 35 milhões de dólares somente no valor nominal, ela pegaria consideravelmente mais como um colecionável ultra-raro. Isso a coloca à frente de seu principal rival mais próximo, o ‚Flowing Hair Silver/Copper Dollar‘ de 1794 que foi vendido pela última vez por $10 milhões em 2013.

Agora mesmo você pode pegar uma moeda de 1 BTC Casascius de 2011 no eBay por US$ 130.000. Se seu orçamento não for tão longe, há uma moeda de 0,5 BTC de 2013 que é um roubo de apenas $30.000 – e há até mesmo uma moeda de 1 BTC não financiada da Casa da Moeda BTCC à venda por $4900. Na Crypto De Change, eles estão oferecendo uma moeda de prata de 1 BTC ‚Titan One‘ por apenas $15.100 (infelizmente, quando você tenta comprá-la você recebe apenas um erro de 404).
Moeda de prata Titan One
Esta moeda de prata Titan One contém uma BTC e está listada por $15K. Barganha!

Dias sombrios de 2011

O Bitcoin físico traça sua história até 2011, quando o cientista da computação de Utah e o colaborador do Bitcoin Mike Caldwell apresentaram a idéia como uma ferramenta educacional. „Bitcoin foi muito difícil de explicar e em 2013 a pessoa comum simplesmente não conseguia entender a idéia“, explica Ahonen, acrescentando:

„A idéia era que pegando esta moeda física, e realmente colocando a Bitcoin dentro dela, você poderia fazer uma demonstração e dizer, olhe aqui está uma Bitcoin, estou dando a você e agora que você a tem, eu não a controlo“.

De burgemeester van Miami, Francis Suarez, heeft onthuld dat hij openstaat voor het verkennen van 1% van de schatkistreserves van de stad in bitcoin. Suarez heeft de afgelopen weken de cryptocurrency verkend.

De burgemeester van de stad Miami, Florida onthulde dat hij openstaat voor het toewijzen van een deel van de schatkistreserves van de stad aan BTC in antwoord op een tweet van Anthony Pompliano (ook bekend als ‚Pomp‘), medeoprichter en partner bij Morgan Creek Digital Assets, waarin hij pleitte voor de beweging.

De toewijzing zou volgens de beschikbare gegevens aanzienlijk kleiner zijn dan de investeringen die verschillende bedrijven vorig jaar in bitcoin hebben gedaan

MicroStrategy heeft bijvoorbeeld voor meer dan $ 1 miljard aan BTC gekocht, terwijl de toewijzing van Miami ongeveer $ 18 miljoen zou kunnen bedragen.

Voor sommigen in de cryptogemeenschap maakt de verhuizing echter deel uit van een bredere omarming van de vlaggenschip cryptocurrency. Een andere gebruiker vroeg burgemeester Francis Suarez om burgers te laten betalen voor stadsdiensten in de vlaggenschip cryptocurrency „om te beginnen“. Als reactie hierop zei Suarez dat de stad daar dit jaar „zeker“ aan zal werken.

In reactie daarop wezen andere gebruikers op de verkozen senator Cynthia Lummis, die heeft gezworen het profiel van BTC in het Congres te versterken wanneer ze aantreedt

Tijdens een podcast zei de Wyoming Republication dat ze gelooft dat bitcoin een grote waarde is die kan helpen bij het aanpakken van de Amerikaanse staatsschuld, waarvan wordt gezegd dat het een van haar grootste zorgen is.

Voor de verkozen senator is bitcoin een betere opslag van waarde dan papiergeld, omdat er een eindige voorraad BTC in omloop kan zijn: 21 miljoen munten. Inflatie, zei ze, is „ingebakken in het plan van de Federal Reserve voor de Amerikaanse dollar“, tot het punt dat mensen die van hun spaargeld met pensioen gaan, zien dat hun koopkracht wordt uitgehold door inflatie.

De adoptie van Bitcoin lijkt als zodanig niet alleen bij bedrijven te zijn, maar ook bij overheidsfunctionarissen. De vraag naar cryptocurrency is de afgelopen maanden toegenomen, waardoor de prijs voor het eerst de $ 30.000 overschreed.

• Ripple’s XRP is struggling after Ripple received a lawsuit from the SEC.
• Bitstamp is the largest crypto exchange that has blocked US customers so far.
• The third largest cryptocurrency is struggling to maintain its price with these allegations.
• The popular exchange Bitstamp has said it will stop XRP trading for US customers. Earlier, the SEC announced that it would take legal action against Ripple Labs.

Discontinuation of XRP trading

XRP haters are pleased as yet another crypto exchange stops trading the coin. After Ripple revealed that it was facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) for illegal securities sales, the price of XRP plummeted.

Shortly after, a number of exchanges began delisting Ripple’s XRP or ceasing trading it for U.S. customers. Exchanges OSL, CrossTower, and Beaxy all stopped XRP trading. Crypto hedge fund Bitwise removed Ripples XRP from its portfolio. All cited the SEC complaint as the reason.

Then Bitstamp threw in the towel and announced the end of XRP trading for its US clients. Bitstamp is the largest exchange to have done so to date.

On their website, the company announced that they will stop trading and all deposits for Ripples XRP on January 8, 2021 at 9pm UTC. US customers will be able to withdraw the token after that, and citizens of other countries are not expected to be affected.

Bitstamp (with a daily trading volume of $500 million) plans to keep an eye on the situation and adjust accordingly.

The „very best security“

The feds accuse Ripple CEO Brad Garlinghouse and co-founder Chris Larsen of conducting an „ongoing“ illegal securities sale.

In the U.S., securities must be registered with the appropriate authorities, usually the SEC, in order to be publicly traded. Non-securities include things like real estate and currencies. Ripple Labs insists that Ripple’s XRP, designed to streamline money transfers, is a currency – not a security.

When the Fed comments on the status of a cryptocurrency, it usually refers to it as property. Some frustrations arise with phenomena like proof-of-stake, where small block rewards could each be considered separate taxable events.

There are some moves in Congress to smooth out these inconsistencies.

In the past, the U.S. government has indicated that it would not consider Bitcoin Code scam (BTC) and Ethereum (ETH) as securities. In 2019, Larsen and Garlinghouse wrote an open letter urging the U.S. government to slow down regulation.

Various news platforms have reported that Okung gets part of his salary in BTC. That is not true, however.

National Football League player Russell Okung is a well-known proponent of Bitcoin ( BTC )

He may convert part of his salary into Bitcoin Rejoin, but his employer, the Carolina Panthers, don’t pay him in virtual currency. A few crypto publications got misled by this.

A spokesman for the Carolina Panthers confirmed to Cointelegraph that Okung, like the rest of his teammates, is only paid in dollars. What he does with the money is his business, the spokeswoman said. In other words, the player has no agreement with the team to get paid in BTC.

The Offensive Tackle Okung is currently in the final year of a four-year contract and will make $ 13 million this year, according to Spotrac.

The NFL player is said to be using a crypto startup called Strike to convert part of his earnings into bitcoin. A beta version of the application says users can „send money instantly, with no fees, anywhere in the world“. This is available for iOS, Android and Chrome.

Okung contributed to this confusion when he recently posted a tweet claiming he was „paid in Bitcoin“. The tweet was in response to a post made in May 2019 when he first expressed his desire to get paid in BTC.

It is not entirely clear whether Okung wanted to show that he was paid in Bitcoin or whether he wanted to promote the crypto startup with the following tweet :

The NFL star has a huge following on Twitter because of his celebrity and Bitcoin advocacy. His Twitter headline reads: „life liberty, and #bitcoin“. His followers include Michael Saylor and Anthony Pompliano , as well as other crypto advocates.

In his recent tweets, he promotes buying Bitcoin and educating citizens about the impact of inflation on the purchasing power of the US dollar.

Global investeringsfond SkyBridge har ansökt till SEC om att starta sin egen Bitcoin-fond. Institutioner fortsätter att ställa upp bakom den primära kryptovalutan.

Efter den imponerande listan över institutionella investerare som har lagt in sina pengar i bitcoin 2020 verkar det som om fler stora namn visar intresse för kryptotillgång nummer ett, efter att ett globalt investeringsföretag lämnade in en ansökan till US SEC för att starta en bitcoinfond för ackrediterad investerare.

SkyBridge föreslår Bitcoin Fund

Enligt ett SEC-dokument på måndagen (21 december 2020) lämnade Anthony Scaramucci’s miljarder dollar hedgefond, SkyBridge Capital, in en blankett D till den amerikanska värdepappersvakthunden för sin första bitcoinfond.

Fonden, känd som SkyBridge Bitcoin Fund L.P., kommer att ha Scaramucci som förvaltare. SkyBridge registrerade också den nya fonden enligt regel 506 (c), vilket innebär att emittenten kan annonsera sitt erbjudande under förutsättning att köparna är verifierade, ackrediterade investerare.

SkyBridge grundades 2005 av Scaramucci och noterade tidigare i ett tidigare SEC-arkiv att det skulle kunna „söka exponering för digitala tillgångar.“ En del av novemberdokumentet sa:

”Investeringsfonder kan investera i digitala tillgångar utan begränsning av marknadsvärde eller tekniska funktioner eller attribut (inklusive mindre kända eller nya digitala tillgångar som kallas” altcoins ”) och kan investera i initiala mynterbjudanden, som historiskt sett varit föremål för bedrägeri. ”

Om SEC godkänner förslaget kan det innebära att fler institutionella investerare blir exponerade för bitcoin genom SkyBridge Bitcoin Fund L.P. Även om arkiveringen inte avslöjar intäktsintervallet, är lägsta investering för deltagare satt till $ 50.000.

Institutioner häller i Bitcoin

2020 har faktiskt varit ett bra år för bitcoin, med institutionellt intresse för BTC som inte visar några tecken på att sakta ner. Som rapporterats av CryptoPotato i november lämnade Guggenheim in en ansökan till SEC om att köpa BTC till ett värde av 500 miljoner dollar genom sin Macro Opportunities Fund.

Ett annat företag, Microstrategy, som har varit på en bitcoin-köptur, tillkännagav nyligen ett nytt BTC-köp till ett värde av 650 miljoner dollar. Andra stora företag som MassMutual och Ruffer Investment investerade också i den bästa kryptovalutan.

Förutom företag köpte rika individer som miljardärer Paul Tudor Jones och Stanley Druckenmiller också bitcoin. Under tiden konstaterar JPMorgan-analytiker att den institutionella investeringsvågen i bitcoin har hindrat kryptotillgångens pris från att korrigeras.

Globale Investoren haben ihr Engagement in Gold zugunsten von Bitcoin reduziert, aber hat die digitale Münze eine Chance, Gold zu kannibalisieren?

Der parabolische Anstieg von Bitcoin

Der parabolische Anstieg von Bitcoin (BTC) im Jahr 2020 wird laut Goldman Sachs keine großen traditionellen Vermögenswerte wie Gold schädigen.

Eine der größten Investmentbanken der Welt, Goldman Sachs, hat Berichten zufolge eine Notiz an Investoren geschickt, in der sie ihren Kunden versichert, dass Bitcoin keine existenzielle Bedrohung für Gold darstellt, berichtet Bloomberg am 18. Dezember. „Wir sehen keine Anzeichen dafür, dass die Bitcoin-Rallye den Bullenmarkt von Gold kannibalisiert und glauben, dass die beiden koexistieren können“, schrieb das Unternehmen.

Goldman Sachs räumte dennoch ein, dass die anhaltende Bitcoin-Rallye den Gold-Investoren einen Teil der Nachfrage stehlen könnte, indem sie feststellte:

„Die jüngste Underperformance von Gold gegenüber realen Zinsen und dem Dollar hat einige Investoren besorgt, dass Bitcoin Gold als Inflationsabsicherung der Wahl ersetzt. […] Obwohl es eine gewisse Substitution gibt, sehen wir die steigende Popularität von Bitcoin nicht als existenzielle Bedrohung für den Status von Gold als Währung der letzten Instanz.“

Angesichts der Tatsache, dass Bitcoin im Dezember neue Allzeithochs erreicht hat, steigen globale Investoren zunehmend in Bitcoin ein. Christopher Wood, globaler Leiter der Aktienstrategie bei der unabhängigen Investmentbank Jeffries Financial, hat Berichten zufolge sein Engagement in Gold reduziert, um mehr Bitcoin zu kaufen.

Der renommierte Marktanalyst reduziert seine Goldinvestitionen

Laut einem Bericht der indischen Nachrichtenagentur Business Standard vom 18. Dezember, reduziert der renommierte Marktanalyst zum ersten Mal seit mehreren Jahren seine Goldinvestitionen. Wood schrieb in einer Notiz an Investoren, dass seine BTC-Allokationen 5% seines Portfolios ausmachen:

„Das 50-prozentige Gewicht in physischen Goldbarren im Portfolio wird zum ersten Mal seit mehreren Jahren um fünf Prozentpunkte reduziert und das Geld in Bitcoin investiert. Sollte der Bitcoin nach dem historischen Ausbruch über die 20.000-Dollar-Marke vom aktuellen Niveau aus stark zurückgehen, wird beabsichtigt, diese Position aufzustocken.“

Laut dem Bericht plant Wood, das Engagement in Krypto im Falle einer Korrektur weiter zu erhöhen. Dennoch vertrat der Analyst eine ähnliche Haltung wie Goldman Sachs, indem er auch bei Gold bullisch blieb. „Das bedeutet nicht, dass GREED & fear das Gold aufgeben werden. Das gelbe Metall sollte sich wieder erholen, wenn die Fed angesichts der dramatischen zyklischen Erholung, die auf der anderen Seite der Pandemie kommt, im Einklang mit dem Basisfall von GREED & fear dovish bleibt“, sagte Wood.

Am 17. Dezember verzeichnete Bitcoin ein weiteres historisches Allzeithoch und stieg über $23.000. Zum Zeitpunkt der Veröffentlichung wird Bitcoin bei $23.133 gehandelt, laut dem BTC-Preisindex von Cointelegraph. Im Gegensatz dazu fielen die Goldpreise am Donnerstag, wobei sowohl der Spot-Hold als auch die Futures um 0,3% fielen. Gold verlor etwa 10% von seinem Allzeithoch im August von $2,076.

JPMorgan’s investment strategists see a growing demand for cryptocurrencies in the US insurer MassMutual’s recent $ 100 million investment in Bitcoin.

100 million US dollars – This is how much US insurer MassMututal invested in Bitcoin on December 11th

Like Bloomberg reported, JPMorgan investment strategists spoke up on the same day. In an investor announcement, they commented that the insurance company’s entry shows that Bitcoin acceptance will now expand from family businesses and wealthy investors to larger investors such as insurance companies and pension funds.

According to the experts at JPMorgan, it is unlikely that large investors would invest larger sums in the cryptocurrency. But even small investments could have an enormous impact on Bitcoin and Co. The strategists of the largest US bank made the following calculation: If pension funds and insurance companies in the USA, the euro zone, Great Britain and Japan invested only 1 percent of their assets in Bitcoin, this would lead to an additional Bitcoin demand of 600 billion dollars. That’s almost double Bitcoin’s current market cap, which Coingecko says is over $ 360 billion.

MassMutual sees the future in Bitcoin

With a view to the 2.3 billion US dollars that MassMutal manages, the BTC position at 100 million US dollars still makes up a comparatively small proportion. At the same time, the life insurer bought minority shares in NYDIG for five million. This is a bitcoin service provider for institutional customers. Investing in NYDIG makes Bitcoin acquisitions likely. JPMorgan’s forecast certainly helps.

2. desember 2020 –– GoodDollar, det sosiale virkningsprosjektet som leverer en digital universell grunninntekt (UBI) i stor skala, har rapportert sterk etterspørsel siden lanseringen 8. september. På litt mer enn åtte uker har mer enn 40 000 mennesker fra 180 land signert opp og begynte å kreve og bruke G $ digital valuta.

“Aldri før har vi sett tusenårsfester som viser en slik interesse for nye digitale eiendeler, og pandemien har bare akselerert denne trenden. Vi ser en ny tilstrømning av mennesker som er sultne etter å delta i markedene, og vedta nye økonomiske innovasjoner. GoodDollar utvider finansiell kompetanse og tilgang til markeder, samtidig som den gir en digital grunninntekt for å drive sin egen digitale økonomi, ”sa Yoni Assia, administrerende direktør og medstifter av eToro og GoodDollar.

Mer enn halvparten av disse personene har blitt vanlige brukere av GoodDollar, logger seg på den digitale lommeboken og hevder G $ hver dag. Hittil har over 14 millioner G $ blitt distribuert til brukere, som har omfavnet GoodDollar-konseptet og akselererte integreringen i eksisterende markedsplasser og plattformer, og skaper en blomstrende økonomi i G $.

Over 13 000 brukere har sluttet seg til GoodDollars fellesskapsinitierte og administrerte Facebook-markedsplass, og bruker G $ til å kjøpe og selge online-tjenester, og med brukere som spinner av lokale markedsplasser, er det etablert i mer enn 40 land. I gjennomsnitt registreres opptil 300 transaksjoner om dagen mellom brukere som kjøper og selger profesjonelle digitale tjenester som markedsføring, grafikk og webdesign. Andre tjenester som tilbys gjennom GoodDollar-markedsplasser inkluderer språkundervisning, yoga- og meditasjonstimer og sosiale årsaker som å bruke G $ til å plante trær. Ser fremover, planlegger GoodDollar å fokusere på å øke antall G $ distribuert til brukere hver dag, utvide nettverket og forbedringer på markedet som muliggjør mer robust handel med G $.

Raoul Pal, CEO of Real Vision, has become one of the loudest supporters of Bitcoin in recent months. After diving back into the crypto rabbit hole in 2018, Pal has been campaigning for crypto currencies on several channels: through his Twitter account, followed by over 200,000 followers, in Bloomberg interviews and through his financial research followed by Wall Street billionaires.

He recently reaffirmed his belief in Bitcoin and crypto-currencies when he announced on Twitter that he had invested 98 percent of his liquid net assets in Bitcoin and Ethereum:

„Ok, last bomb – I have a sell order tomorrow to sell all my gold and buy BTC and ETH (80/20). I don’t own anything else (except some bond calls and some $’s). 98% of my liquid net assets. You see, you cannot categorise me except #irresponsiblylong.“

With an extensive career in top hedge funds and companies like Goldman Sachs, many assume that he has invested tens or even hundreds of millions of dollars in the two leading crypto currencies.

It is worth noting that Pal is temporarily going bearish at Bitcoin and is currently commenting that the chance of a short-term correction is increasing.

Bitcoin has allegedly faced important technical headwinds
Recently, he noted that the tom-demark sequence, a well-known time-based technical analysis tool that predicted earlier reversal points of the macro bitcoin, is a retrograde sign:

„Bitcoin may be facing some serious technical advances… the daily DeMark shows a cluster at 2 13 and a 9, and tomorrow there could be another 13!

The Tom Mark indicator prints „9“ and „13“ candles when an asset is likely to be near a turning point in its trend.

Tom Demark himself, the person from whom this indicator was derived, has used it in the past to analyse Bitcoin. Demark told Bloomberg in an interview many months ago that the indicator accurately predicted the 2017 high of $20,000, along with macro lows of $3,200 in 2018.

However, there are some who do not have much faith in the indicator, especially as the Bitcoin market has changed structurally since previous bull runs.

For example, derivatives data suggest that Bitcoin’s recovery over the past two months has been driven almost exclusively by institutional players. Previously, it was retail investors who led Bitcoin’s price action.

Still macroeconomic bullish
Although Pal fears a short-term correction, he remains bullish on Bitcoin and crypto currencies in the long term.

In a video published on Real Vision, a financial research site he owns, Pal stresses that the macroeconomic, political and social trends of the world all point to a world in which Bitcoin plays a major role:

„It looks as if we will reach that point. I have said that this is the point where macro, crypto, politics, everything comes in the same big bucket. It is all concentrated and our pure focus at the moment. We know that Bitcoin has a role to play in this.“