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James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC that he sees prices of both $150,000 and $80,000 being on the cards for bitcoin in 2025. "I'm more bullish than ever for 2025," Alexander told CNBC, adding bitcoin's price "could easily reach $200,000 but there are no signs of volatility reducing." "Bitcoin's price in 2025 is likely to see both significant upward momentum and occasional sharp corrections," Yang told CNBC. Another factor Powell sees boosting bitcoin's price is the anticipation of a bitcoin strategic reserve in the U.S. "I think you'll of course see corrections — crypto remains a cyclical industry," Powell told CNBC.
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Analyst explains Bitcoin's sell-off following the ETF launch
  + stars: | 2024-01-15 | 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 EmailAnalyst explains Bitcoin's sell-off following the ETF launchMarkus Thielen of 10x Research breaks down the price correction for Bitcoin following the SEC's approval for spot Bitcoin ETFs.
Persons: Markus Organizations: Research
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
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.
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.
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.
The Ethereum blockchain's mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive "proof of stake" (PoS) system with hardly a hiccup. Some crypto investors are now turning their attention to the next event that could shake up prices. It would allow validators, who have deposited ether tokens on the blockchain in exchange for a yield, to withdraw their staked coins, to hold or sell. Longer-term, though, the switch to PoS is expected to decrease the rate at which ether tokens are issued - potentially by up to 90% - which should drive up prices. Additionally, annual yields of 4.1% for staking ether tokens to validate transactions could prove tempting for investors.
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