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ARK Invest’s latest report heralds Bitcoin as a dominant force in the investment world, advocating for a substantial 19.4% portfolio allocation.  The firm’s comprehensive Analysis , detailed in its “Big Ideas 2024” report published on Jan. 31, highlights Bitcoin’s (BTC) impressive performance and potential future growth catalyzed by several key factors. Central to ARK’s assessment is Bitcoin’s remarkable return rate. Over the past seven years, Bitcoin has yielded an average annual return of around 44%, starkly outperforming other major asset classes, averaging a return of 5.7%. This exceptional performance is a pivotal reason behind ARK’s recommendation to allocate 19.4% of an investment portfolio to Bitcoin, a substantial increase from a mere 0.5% allocation observed in 2015. Bitcoin’s resilience during market fluctuations is also a focal point in ARK’s report. The flagship cryptocurrency demonstrated notable growth, par...

In a noteworthy development within the cryptocurrency sphere, nine recently introduced spot Bitcoin exchange-traded funds (ETFs) have collectively garnered more than $4 billion worth of Bitcoin in just seven days of trading. The total assets under management (AUM) for these ETFs now exceed 100,000 BTC, equivalent to approximately $4 billion, excluding the Bitcoin Trust (GBTC) fund, which has been converted by Grayscale. Key Players The prominent nine ETFs driving this surge in Bitcoin holdings encompass BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW). BlackRock’s spot Bitcoin ETF (IBIT) takes the lead, boasting 40,213 BTC in holdings, followed closely by Fidelity’s FBTC with 34,152 BTC, according to data from K33 Research. January 23 The new ETFs took seven trading days to amass BTC holdings of more than 100,000 BTC. BlackRock needed 7 trading days t...

Helium Mobile (MOBILE) and Helium (HNT) witnessed significant gains over the past day as the market saw a notable boost. MOBILE is up by 227% in the past 24 hours and is trading at $0.003 at the time of writing. Following the rally , the asset has emerged as the top gainer among the top 300 cryptocurrencies, per data provided by CoinGecko.  MOBILE price – Dec. 14 | Source: CoinGecko You might also like: CFTC Chair clarifies crypto assets as commodities amid regulatory struggle Helium Mobile’s market cap surged to $220 million, making it the 210th largest cryptocurrency at reporting time. The token’s daily trading volume surged from around $3.8 million to $15.7 million over the past day. On Dec. 5, Nova Labs, the creator of the open-source Helium network, launched a nationwide data plan in the U.S. Per a crypto.news report, Nova Labs partnered with T-Mobile to launch a $20 per month unlimited phone plan.  MOBILE’s sister coin, HNT, also recorded a 26....

Last week, the inflow of investment products into digital assets reached $176 million, the most significant number since October 2021. This marked the 10th consecutive week of inflows totaling $1.76 billion, or 4% of assets under management (AuM), according to a CoinShares report. The inflow of assets into crypto funds was the largest since October 2021, when a crypto futures ETF was launched in the United States. Crypto assets inflow | Source: CoinShares Additionally, total AuM is up 107% this year, but at $46.2 billion, it remains well below the all-time high of $86.6 billion seen in 2021, according to analysts. ETP trading volumes remain high at $2.6 billion weekly, representing 12% of total Bitcoin (BTC) volume. Bitcoin was the main beneficiary, receiving inflow s of $133 million, although short Bitcoin, after three weeks of outflows, saw inflow s of $3.6 million last week. You might also like: ‘Rich Dad Poor Dad’ author reiterates Bitcoin investment Ethere...

Cryptocurrency miner Phoenix Group has delay ed its listing on the Abu Dhabi Securities Exchange. Bitcoin (BTC) mining firm Phoenix Group has moved the date for going public on the Abu Dhabi Securities Exchange (ADX). According to a press release published on Nov. 28, 2023, the firm has rescheduled the listing date to Dec. 5, 2023, the UAE’s National Day. The UAE-headquartered firm noted that despite the delay, it anticipates “a warm reception from investors.” “This alignment with our national festivities affirms our deep respect for the UAE’s heritage and commitment to its future.” Phoenix Group Co-Founder Bijan Alizadeh You might also like: OPNX fined $2.7 million in UAE for flouting marketing laws Initially, Phoenix Group was planning to go public on Dec. 4, 2023 after the firm said its IPO was oversubscribed over 30 times. However, the Ministry of Human Resources and Emiratisation marked Dec. 2-4 as public holidays for the private sec...

The creator of the Mutant Ape Planet NFT collection pleaded guilty to wire fraud in a New York federal court. In this week’s newsletter, read about the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to fraud charges, check out how OpenSea’s non-fungible token (NFT) users received a massive phishing email campaign, and how Bitcoin transaction fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, game distributor G2A has launched a gaming-focused NFT marketplace.  Creator of Mutant Ape ripoff NFTs pleads guilty to $3 million fraud scheme Aurelien Michel, the creator of the Mutant Ape Planet NFT collection, which copies the popular MAYC collection by Yuga Labs, pleaded guilty to wire fraud in a New York federal court. Michel admitted to defrauding investors of $3 million and performing a rug pull. The team behind the MAYC knock-off falsely promised rewards and benefits to their investors and intentionally failed to deliver on thei...

Bitcoin’s price action shows consolidation and significant volatility, focusing on the $38,000 resistance level and market sentiment indicators. How high can Bitcoin go? Bitcoin (BTC) has shown resilience and bounced back above $37k levels after declining to $35k levels on Nov. 15. BTC has maintained its bullish outlook despite a period of sliding price s influenced by the absence of significant developments in the spot Bitcoin exchange-traded fund (ETF) and other macroeconomic factors. Moreover, over the past few weeks, Bitcoin’s journey has been marked by a pattern of higher lows and higher highs, a characteristic of a bull phase in the crypto market. Greg Moritz of AltTab Capital remarks on the natural occurrence of pullbacks even in bullish markets, suggesting that the current scenario is a typical fluctuation within an overall positive trend​​.  Further bolstering Bitcoin’s position is the macroeconomic landscape, which presents interesting dynamics for...

Discover the risks associated with trusting Bitcoin price predictions in a fluctuating market. Bitcoin (BTC), the first and most widely recognized cryptocurrency, has witnessed a meteoric rise in both value and popularity since its inception in 2009. Its journey has been marked by extreme highs and lows, making it a focal point for investors and analysts alike. A key fact to consider is Bitcoin’s history of unpredictable price swings. For instance, in November 2021, Bitcoin reached an all-time high of nearly $69,000, only to plummet to $16,000 levels by the end of 2022. This dramatic rise and fall challenged many optimistic forecasts and showcased the asset’s unpredictability. Another significant aspect is the influence of external factors on Bitcoin’s price. Events such as regulatory announcements, technological changes, or macroeconomic shifts can have immediate and profound impacts on its value.  For example, in 2021, China’s crackdown on cryptocurrency mi...

BTC price liquidity is on the move as analysis says the Bitcoin "gameboard is changing" — another squeeze may result. Bitcoin (BTC) has new short-term BTC price targets as consolidation mixes with bouts of volatility. After a classic “short squeeze” took the largest cryptocurrency to near $36,000, Bitcoin market participants are highlighting key levels to look for from Nov. 8 onward. Bitcoin buy liquidity inches down to $34,000 Bitcoin is facing hurdles overcoming resistance at the $36,000 mark, and several attempts to clear it have quickly faded data from Cointelegraph Markets Pro and TradingView shows. Now, sellers are becoming active on intraday timeframes, and data from exchange order books shows the buy side getting cautious. In an X post on the day, on-chain monitoring resource Material Indicators highlighted support liquidity heading lower — from $34,500 to $34,000. “The Bitcoin Gameboard is Changing,” it wrote in part of accompanying commentary. A snapshot of the B...

The Cryptocurrency Fear and Greed Index has reached 72, the highest level in the last two years. The last time apart from October 2023 that the Fear and Greed Index rose above 70 was two years ago. The peak was recorded on Nov. 9, 2021, when the indicator rose to 84. During that period, the value of the main cryptocurrency was actively growing, and on Nov. 10 it hit a historical high of $69,044. Source: Alternative.me The rise in metric values comes amid a recovery in the cryptocurrency market, fueled by narratives about the prospects of launching the first Bitcoin-based exchange-traded fund in the United States. The capitalization of the latter reached $692 billion, according to CoinGecko. The Bitcoin Dominance Index is at 51%, which is comparable to April 2021 values. Since mid-October, the price of BTC has been showing positive dynamics. Bitcoin broke through the $30,000 barrier back on Oct. 16th. Then rumors spread online that the US Securities and Exchange Commission...

Switzerland’s St.Galler Kantonalbank has launched Bitcoin and Ether trading for select customers, planning to add more coins in the future. Switzerland’s St.Galler Kantonalbank (SGKB), one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin (BTC) and Ether (ETH) trading to its customers. SGKB has partnered with the global cryptocurrency-focused bank SEBA to offer its clients digital asset custody and brokerage services. Announcing the news on Nov. 1, SGKB and SEBA said that the new crypto service is immediately available to select SGKB customers following a short period of testing earlier this year. Starting off with Bitcoin and Ether support, SGKB plans to expand its offerings to additional cryptocurrencies based on client demand. Founded back in 1868, St.Galler Kantonalbank is a major Swiss regional bank, offering retail and commercial banking as well as private and institutional banking. SGKB is reportedly the fifth largest bank in Switzerland...

Miami Mayor and president ial hopeful Francis Suarez has said he intends to include Bitcoin in his president ial salary in an exclusive interview with The Block . Francis Suarez, #Miami's Mayor and now a president ial candidate, showcases his commitment to #crypto, stating he's open to receiving #Bitcoin as part of his president ial salary . #btcnews #cryptonews #Election2024 pic.twitter.com/OWBnWJrLGB — 1ATH.Studio (@1ATHStudio) August 23, 2023 Suarez, who already accepts Bitcoin as part of his mayoral salary , sees potential in extending this practice to his presidency. He believes that using cryptocurrencies can protect against the instability and political issues that impact traditional money systems. As an advocate for Bitcoin and blockchain innovation, Suarez aims to position Miami as a global hub for crypto ventures, standing in stark contrast to skeptics who view digital currencies with suspicion.  By embracing crypto payments, Suarez hopes to foster no...

Delphi Digital co-founder Kevin Kelly believes a recent change in a key U.S. manufacturing business index could be one of the bellwethers for a crypto bull run. Several on-chain metrics and charts are showing signals that could hint at the beginning of a new crypto bull market cycle, according to the co -founder of Delphi Digital. On Aug. 14, institutional crypto research firm Delphi Digital's Kevin Kelly said that crypto markets are cyclical and predictable which “has huge implications for the crypto market going forward.” "Evidence is piling up that we're in the early stages of a new cycle. Risk assets like stocks [and] crypto have been sniffing this out all year." Kelly also shared an Aug. 8-dated chart by Delphi Digital, highlighting that Bitcoin follows four-year cycles with distinct patterns that have reliably repeated for the past three cycles — with Bitcoin suffering an 80% drawdown in the first year, recovering to prior highs over two years, before rall...

Bitcoin’s Calm Volatility Stirs Breakout Anticipation This period of calm may soon give way to a dynamic shift, potentially ignited by significant catalysts on the horizon. Notably, applications for spot Bitcoin exchange-traded funds (ETFs) by major players like BlackRock Inc. have caught the market’s attention. If approved, these ETFs could significantly boost demand for Bitcoin . advertisement The impending verdict on ETF applications, such as the ARK Investment Management LLC filing, holds the potential to disrupt the current placid market conditions. Analysts from K33 Research suggest the SEC’s response to this application by August 13 could spur market volatility, Bloomberg stated. In an earnings call, Galaxy Digital CEO Mike Novogratz cited insider sources suggesting that approval for BlackRock and Invesco’s spot Bitcoin ETFs is a matter of “when, not if.” The anticipation for a spot Bitcoin ETF approval has surged since...

A Seeking Alpha analysis reveals that Bitcoin prices must not only more than triple to $100,000 but should be sustained above this level for miners to remain profitable in 2024 and beyond. Considering what lies ahead, mining farms, especially those whose shares are listed on bourses in the United States, including Riot and Marathon, are at a critical juncture. There could be a shake-up unless there are changes in hash rate, difficulty, or electricity costs in light of scarce BTC. Uniquely in 2023, Bitcoin mining stocks have been superior. While Bitcoin’s volatility has been tapering and prices pinned below $31,800 registered in late H1 2023, stocks of Riot, Marathon Digital, and other popular mining farms have more than doubled in the last few months.  You might also like: Marathon mined 21% less bitcoin in June partly due to bad weather in Texas Usually, the performance of crypto mining stocks is closely linked to the performance of Bitcoin in the secondary market. ...

Bitcoin and Ethereum fees dropped in a slow week as their prices remained relatively stable compared to the previous week. In a recent tweet, the market intelligence platform and advanced DeFi tools provider, IntoTheBlock, torchlights the lackluster activities of the bigwigs in the crypto market. The firm revealed that Bitcoin (BTC) and Ethereum (ETH) have seen a relatively sluggish week so far. It attributed the apparent dormancy in trading to August’s historical inactivity trend across trading landscapes. IntoTheBlock argued that the August trend’s impact was becoming noticeable in both networks’ fee structures. Both # Bitcoin and # Ethereum had a relatively slow week. August tends to be the most inactive period of the year for trading, and this could have impacted the drop in fees for both networks pic.twitter.com/BvFlHx1fiO — IntoTheBlock (@intotheblock) August 4, 2023   BTC and ETH Fees Decline IntoTheBlock attached an image to the t...

Jack Dorsey’s Block has reported a gross profit of $1.87 billion for Q2 2023. The figure represented a 27% increase in revenue year-over-year. Moreover, Block reported that out of the total $5.5 billion revenue in Q2, $2.4 billion came from Bitcoin (BTC). In a letter to shareholders, the company stated that “We delivered strong growth and profitability at scale during the second quarter of 2023.” Also Read: Coinbase & Cash App to Integrate Jack Dorsey’s Bitcoin Self-Custody Wallet Block ’s Cash App boosted gross profit by 37% to $968 million. Meanwhile, Square saw a gross profit of $888 million, marking an 18% increase from the previous year. Block ’s stock earned 39 cents on an adjusted basis in Q2. The figure surpassed analysts’ estimates of 36 cents, as per Refinitiv IBES data. How did Pay Pal perform in Q2? Source: Unsplash On the other hand, Block competitor, Pay Pal, reported disappointing results for Q2, leading to a 7% dip in ...