In this week’s newsletter:
- JP Morgan says that institutional investors are favouring Bitcoin over gold.
- The U.S won’t ban cryptocurrency after China bans all crypto transactions.
- Bitcoin breaking the $50k resistance.
Read our weekly round up below.
JPMorgan: Institutional Investors Are Favoring Bitcoin Over Gold
Nasdaq: October 6, 2021
JPMorgan analysts have shared that they believe an increased appetite from institutional investors has been fueling the Bitcoin rally. “Institutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold,” JPMorgan said. Money is flowing out of gold and into bitcoin, according to the big bank.
Federal Reserve Chairman Says U.S. Won’t Ban Cryptocurrency a Week After China Bans All Crypto Transactions
NextAdvisor: October 6, 2021
U.S Federal Reserve Chairman Jerome Powell said he has “no intention” of banning cryptocurrency last week. His statement comes after China banned all cryptocurrency transactions and said it will consider any crypto-related transactions to be illicit.
Ukraine Is Building A Digital Future With Bitcoin
Tipranks: October 6, 2021
The price of the world’s largest cryptocurrency by market capitalization crossed $50,000 for the first time in a month on October 5th. Amidst heavy price volatility and FUD, Bitcoin (BTC) has made a triumphant return, cementing itself as the best performing asset of 2021
George Soros’ Fund Holds Bitcoin, CEO Says Cryptocurrency Has Gone Mainstream
Bitcoin.com: October 7, 2021
The price of the world’s largest cryptocurrency by market capitalization crossed $50,000 for the first time in a month on October 5th. Amidst heavy price volatility and FUD, Bitcoin (BTC) has made a triumphant return, cementing itself as the best performing asset of 2021
Analyst Expects Ethereum Price To Explode To $30,000 Amid Network Adoption
FXStreet: October 7, 2021
Analysts expect Ethereum to explode with the rise in on-chain activity and increasing network adoption. Ethereum is heading closer to its key upgrade, “The Merge.” Despite capital rotation from Ethereum to alternatives, the largest altcoin currently maintains the largest market share in the decentralized finance market.
Bitcoin Bounces Back Above $55,000, But Trader Has His Eye On Two Other Cryptocurrencies
CNBC: October 6, 2021
The cryptocurrency rallied on Wednesday, topping $55,000 and hitting its highest level since mid-May. Regulatory fears have eased this week after both Treasury Secretary Janet Yellen and SEC chair Gary Gensler said they have no plans to impose restrictions on cryptocurrency trading.
Crypto Mystery: Where’s The US$69B Backing The Stablecoin Tether
BNN Bloomberg: October 8, 2021
In July, Treasury Secretary Janet Yellen summoned the chair of the Federal Reserve, the head of the Securities and Exchange Commission, and six other top officials for a meeting to discuss Tether.
Crypto Companies Raise Record-Breaking $6.5B in Q3 2021
Decrypt: October 8, 2021
Venture funding for blockchain companies between July and September 2021 hit an all-time high of $6.5 billion in 339 rounds–and that’s in disclosed deals only, according to recent research from Blockdata.
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