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Meanwhile, there is growing excitement that the U.S. Securities and Exchange Commission will approve the first ever bitcoin ETF, after years of opposition. With all of this excitement comes some quite bold predictions about bitcoin's price. "No rationale for that prediction," Mobius said, except that a bitcoin ETF looks likely and "that has heightened interest" in the cryptocurrency. Yang attributes the anticipated price rise to a bitcoin ETF being approved, leading to higher institutional investment in bitcoin, as well as May 2024's bitcoin halving, which would result in the bitcoin supply being constrained. Alexander told CNBC that during the first quarter of 2024, bitcoin will trade within the $40,000 to $55,000 range, owing to "professional traders creating volatility."

Persons: Filip Radwanski, Bitcoin, bitcoin, FTX, Sam Bankman, Fried, Binance's Changpeng Zhao, Mark Mobius, Mobius, Yang, Luna, James Butterfill, Butterfill, Antoni Trenchev, Trenchev, Carol Alexander, Alexander, Coinbase, Matrixport Organizations: Getty, CNBC, Department of Justice, U.S, U.S . Securities, Exchange, Chartered, University of Sussex, Exchange Commission, SEC, Fidelity, Blackrock, Federal Reserve Locations: U.S, bitcoin, Blackrock

☆ Crypto execs says the bull run is underway and could lead to $100,000 bitcoin in 2024
▼ + stars: | 2023-12-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

"It feels that [2023]was a year to get ready for the bull run that is yet to come. But the sentiment is very hopeful for [2024] and 25," Pascal Gauthier, CEO of Ledger, told CNBC last week in an interview. Since then, the crypto industry has been hit with a litany of issues from the collapse of coins and projects to bankruptcies and criminal trials. It began with Standard Chartered last week which reiterated an April price call that bitcoin would hit $100,000 by end of 2024. "Combined with geopolitical crosscurrents, this healthy dose of monetary support should push Bitcoin to new highs in 2024."

Persons: Chino, Bitcoin, Pascal Gauthier, Ledger, Sam Bankman, Changpeng Zhao, David Marcus, Marcus, Facebook's, Diem, Gauthier, Vijay Ayyar, Matrixport Organizations: Getty, CNBC, U.S . Department of Justice, bitcoin, Standard Chartered, Federal Reserve

☆ Crypto trading will shift away from unregulated exchanges focused on retail investors: Matrixport
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto trading will shift away from unregulated exchanges focused on retail investors: MatrixportMarkus Thielen of Matrixport says Binance's DOJ settlement "dramatically" increases the probability of a Bitcoin ETF next year.

Persons: Matrixport Markus Thielen, Matrixport Organizations: DOJ

☆ Bitcoin could more than double and hit a new record high next year as the token sees a big shakeup, blockchain exec says
▼ + stars: | 2023-05-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Bitcoin could hit a new record high next year, said Bob Ras, cofounder of blockchain firm Sologenic. He cited bitcoin halving, which will reduce mining rewards and supply of the token. The banking crisis and expectations that the Fed will start easing may also lift bitcoin, he added. "When bitcoin's halving kicks in a year from now, we'll likely be well on our way past the previous all-time high," Ras told Insider. Meanwhile, bitcoin appears to be front-running the belief that looser policy from the Federal Reserve is on the way, Ras explained.

Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Trading volumes for spot bitcoin are highest during U.S. opening hours, with little change from 2022, Kaiko data showed. If dollar to crypto volumes are excluded, then the next most dominant currency is South Korea's won . Crypto trading volumes in South Korea are back to levels seen in first quarter and second quarters of 2022 after a weak fourth quarter in 2022, analysts at crypto investment firm Matrixport said. "This is in stark contrast to other crypto exchanges where bitcoin and Ethereum account for the majority of the volume."

April 4 (Reuters) - Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Most options traders are betting on bitcoin prices jumping higher, with open interest in call options at 206,979 contracts on Deribit, more than double the bearish put options of 93,857. "We have reached the same levels of open interest as 2021 at half the prices, which means we have doubled." Options contracts give their buyers the right, but not an obligation, to buy or sell an underlying asset at a fixed price in the future. Open interest in ether on Deribit features 1.7 million call options versus 656,158 puts.

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world. Other market players predicted that bitcoin would benefit from central bank efforts to bolster liquidity in the global financial system. It rose to a record of $69,000 in November 2021 after central banks and governments launched unprecedented monetary and fiscal stimulus measures. Reporting by Tom Wilson in London and Georgina Lee in Hong Kong; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Bitcoin near 9-month high as bank turmoil sparks rally
▼ + stars: | 2023-03-20 | by ( Georgina Lee | ) www.reuters.com time to read: +1 min

HONG KONG, March 20 (Reuters) - Bitcoin hovered near nine-month highs on Monday, and has closed out its best week in four years as turmoil in traditional banking drives some investors to turn to digital assets. "The momentum is all driven by liquidity, as bitcoin is an alternative liquidity vehicle," said Markus Thielson, head of research and strategy at digital asset financial services firm Matrixport based in Singapore. He expects bitcoin can hit $45,000 by year's end, with liquidity from central banks finding its way into crypto assets, much as it did during 2021, when bitcoin scaled record highs. The U.S. Federal Reserve on Sunday said it and other big central banks would deepen liquidity by increasing the frequency of dollar supply operations into financial markets. Ether, the second-biggest cryptocurrency, rose to a seven-month high of $1,846.50 on Sunday and was last at $1,768.

☆ There's strong demand from people moving some of their deposits into crypto, strategist says
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's strong demand from people moving some of their deposits into crypto, strategist saysMarkus Thielen of Matrixport discusses the demand for cryptocurrency in the wake of the banking crisis.

REUTERS/Benoit Tessier/File PhotoFeb 21 (Reuters) - The world of stablecoins is suddenly looking shaky. "There's way too much demand for dollar-based stablecoins for them to go away," said Alex Miller, CEO at bitcoin developer network Hiro. Market leader tether (USDT) has been a big beneficiary, adding $1.9 billion to its market capitalization to hit $70.3 billion since the news. It now commands 52.6% of the stablecoin market, up from just over 51%. Traders also use these tokens to hedge their positions, and hence dwindling market value is associated with falling liquidity and leverage in the broader crypto market.

☆ Bitcoin is headed for its best start to the year since 2013 as risk appetite grows ahead of expected smaller Fed rate hike
▼ + stars: | 2023-01-27 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

The rally comes ahead of expected smaller rate hikes from the Federal Reserve next week. The rally seems driven by the belief that the Federal Reserve will ease back further on aggressive rate hikes following signs of cooling inflation. "More measured rate hikes globally tilting to stability will reduce the headwinds as BTC edges towards fresh heights. Matrixport's Thielen said supporting the rally is a "clear signal" that US institutions are buying up bitcoin right now. "Institutions are not only buying bitcoin spot; rather, we are also seeing consistently high premiums for perpetual futures," Thielen said.

☆ Cryptocurrency industry has to 'move on' from FTX collapse, analyst says
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCryptocurrency industry has to 'move on' from FTX collapse, analyst saysMarkus Thielen of Matrixport says there's "a lot more hope" for the industry.

Interest in this niche breed of cryptocurrencies, typically linked to sports teams like Barcelona or Brazil, has been charged up by the soccer World Cup which began on Nov. 20. The token of Lionel Messi's Argentina side slumped 25% to $5.26 following the team's shock defeat by Saudi Arabia in their opening World Cup game. The broader crypto market malaise is partly to blame for price drops, according to researchers who said the flighty assets were wilting as investors shunned risk. "But the first perception should never be that you're buying the fan token from a profit-generating standpoint." It facilitates trading of most fan coins, describing buying such tokens as joining a loyalty scheme with exclusive benefits and prizes.

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