Bitcoin Price Reacts After Stone Ridge Revealed $115 Million Investment

Bitcoin Price Reacts After Stone Ridge Revealed $115 Million Investment
фото показано с : zycrypto.com

2020-10-15 22:17

Last week, Square, co-founded by Jack Dorsey, the CEO of Twitter, purchased $50 million worth of Bitcoin. Yesterday, a release by Stone Ridges, revealed that the company bought $115 million worth of Bitcoin. Stone Ridge Asset Management has been a fan of cryptocurrencies for quite some time. After evolving into the New York Digital Investment Group (NYDIG), the firm started looking into digital assets following the Covid-19 pandemic.

Robert Gutmann, the co-founder of Stone Ridge stated:

“We’ve seen a pretty dramatic acceleration in the count of institutional investors who want to participate in the market since March of this year,” he says. “The macro backdrop against the public health backdrop has caused a lot of people to rethink their portfolio composition.”

After the first purchase from Square, the price of Bitcoin jumped 2.5% within a few hours. So far, Bitcoin hasn’t reacted positively, but that’s mostly because of the strength of the dollar. Bitcoin and the U.S. dollar are inversely correlated, which means that when the dollar goes up, Bitcoin goes down.

BTC dumping will not happen, according to Cryptoquant CEO

According to recent statistics provided by on-chain data provider Cryptoquant, whales are not actively depositing Bitcoin in exchanges. The ‘Exchange Inflow Mean’ isn’t above the danger zone, which has been shown to be a strong indicator of Bitcoin pullbacks.

Back in March, the number of Bitcoin going to exchanges spiked just before the massive black-thursday market crash.

The current price of Bitcoin is $11,341 after a slight rejection from $11,720. The next price target for the bulls is the psychological resistance level at $12,000. On the daily chart, the price of BTC is trading above the 50-SMA and the 100-SMA, after turning both levels into support.

There are almost no red flags for Bitcoin, however, the dollar index does pose a threat to the digital asset. Considering the U.S. presidential election is just weeks away, investors will need to pay close attention to the upcoming events.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68737.85 (-0.10%)
Объем 24H $41.911b
Изменеия 24h: -0.06 %, 7d: -3.34 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1359.497b Rank 1
Цена в час новости $ 11381.45 (503.95%)

million bitcoin worth 115 stone revealed price

Источник: zycrypto.com

million bitcoin → Результатов: 126


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.