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Institutional Stock Up Could Push BTC to $1 Million

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Experts and analysts believe that BTC price growth has become possible thanks to the increasing adoption of Bitcoin by numerous firms.

Bitcoin (BTC) price is currently making impressive moves as the premier digital currency is seeing some of its greatest adoptions since it made an entry into the world back in 2009. According to a report from Express.co.uk, the belief that Bitcoin price could skyrocket to more than $1 million is championed by one of Bitcoin’s early proponents Max Keiser.

Max Keiser’s stance on the possible moon ride of Bitcoin price is predicated on the law of demand and supply of the digital currency. According to Keiser, Bitcoin is currently more in demand per day without a corresponding adequate supply, a move that has the potential of stirring increased runs in Bitcoin’s price.

“The demand for bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day. This is why I think institutions that are buying bitcoin will do so directly from miners and the public won’t have a chance to buy any,” said Keiser to Express.co.uk, adding that “The public will be shut out as the price rockets to $1,000,000 (£752680.50) per coin.”

According to the expert, there are currently about 900 coins being mined on a daily basis and about 2600 Bitcoins are demanded. He noted that with institutional stock up of Bitcoin by the likes of MicroStrategy Incorporation (NASDAQ: MSTR) and Square Inc (NYSE: SQ) as we have seen in recent times, securing Bitcoin when the 21 million coins are mined will be out of the far reach of the general public.

The implications of this price shift according to Keiser will become prominent as the world power in terms of the richest men may shift dramatically from the current billionaires of today including the likes of Jeff Bezos, the Chief Executive Officer of Amazon.com Inc (NASDAQ: AMZN) to mention a few to Generation Z who were among the early adopters of Bitcoin and bought the coin at prices below $100. According to Keiser, these “will be the new global power elite.”

BTC Price Already Showing Big Moves

BTC started trading upon its debut back in 2009 at basically no cost according to a Wikipedia track of the coin’s price history. The price hit $0.003 back in March 2010, a price that with just a few dollars, anyone could stock up a significant amount of the coin that would have amounted to much to date.

Bitcoin began trading above $100 from April 11, 2013, when it sold for $266. The coin’s price has expressed significant fluctuations and finally hit its highest high on December 17, 2017, when it traded at $19,783.06. From that time, Bitcoin’s price has significantly plunged with a dogged effort to retest its highest price levels of all time.

Of recent, the move by Bitcoin to shoot up its price is beginning to pay off as the coin has traded close to the $19,000 resistance level in a bid to aim for new highs. Several experts and analysts believe that this move is stirred by the increasing adoption of Bitcoin by these highlighted Wall Street firms amongst others.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Insider Protocol Is Going to Start Working with Institutional Funds

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While the Insider Protocol is built for a diverse class of users, the platform has created its tested Option X algorithm that is best suited for institutional clients.

Innovation in the blockchain and cryptocurrency ecosystem is still in its infancy and any innovation such as that from the Insider Protocol is quick to be spotted and celebrated. The Insider Protocol is a relatively new multi-faceted blockchain and cryptocurrency ecosystem that is building by the Mechanics of the Future team.

With a profound emphasis on privacy, the Mechanics of the Future Team created the Insider Protocol as well as its accompanying products and services to model a high level of anonymity, such as is aimed at combating the dominance of the Monero (XMR) and Dash networks respectively.

Of the flagship products emanating from the Insider Protocol is the Automated Trading Bot algorithms that help users make intelligent automated trading decisions to help return ample profits back to the users. The trading bots also have infused in them a great level of anonymity and they currently support the BTC/USDT trading pair. While users can take advantage of this active trading pair, the team is determined to roll out support for additional trading pairs to support other altcoins including Ethereum (ETH), Litecoin (LTC), and Monero (XMR) in the not too distant future.

The Insider Protocol is trailing the blaze in the very nascent niche of automated bitcoin trading bot and with determination to take its services mainstream, the team behind the project is committed to constant platform development

Insider Protocol’s HFT Trading Algorithm: The Real Game Changer

The earlier noted auto trading bots works with the High-Frequency Trading (HFT) algorithm, a highly scalable algorithm that is implemented using the layering technique. Article on Bloomberg explained in detail how the HTF Layering method works. HFTs are not uncommon in the world of finance as they are highly used by big financial institutions. While these big corporates utilize this layering technique in their trading, they tend to tag it illegal amongst retail traders. With the ingenuity of the Mechanics of the Future Team, however, algorithms to counter the Financial institution’s HFT trading bots have been developed.

While trading using the layering technique, a trader can place as many trades and at varying prices as possible which can also be canceled at will. Using the HFT algorithm, the user can place many different orders for assets traded on an exchange without the plans to purchase the asset. These multiple orders created alerts other users who can thus place higher bids on the assets. The bot utilizes this algorithm to maximize returns taking note of the price differences in the buy orders.

The entire Insider Protocol ecosystem is still under development and with the plans to utilize the scalable and highly secured Mimblewimble (MW) Protocol, the platform is set to be positioned to process high throughput and fast transactions in a bid to rival existing blockchain protocols. A highlight of the Mimblewimble Protocol was described by Cointelegraph to utilize the technology of confidential transactions, encrypting all inputs and outputs, as well as their public and private keys. This enables the senders and recipients of transactions to be thoroughly masked and away from prying authorities

Embrace of Institutional Clients and Funding

While the Insider Protocol is built for a diverse class of users, the platform has created its tested Option X algorithm that is best suited for institutional clients. The company’s propulsion of custom made offerings is positioning it aright to begin trading with the inflow of institutional funds.

In this video below you can see the Trading Statement of the Option X algorithm which was mainly built for Institutional Traders.

Despite there being existing platforms offering similar services as the Insider Protocol’s, the creativity and futuristic approach of the Mechanics of the Future Team is set to position the platform at the top of the food chain in no time.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Ethereum (ETH) Price Pops Over 13% in Past 24 Hours to Hit ATH

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The Ethereum ecosystem has significantly benefited from the booming decentralized finance industry.

Ethereum (ETH) market price has jumped over 13% in the past 24 hours to hit its all-time high (ATH) set back during the 2017/2018 bull run. Ethereum market price rallied to slightly above $1435 but had retraced to trade around $1,406.55 at the time of writing according to metrics provided by CoinGecko.

Consequently, Ethereum’s market capitalization had topped $161.57 billion with a trading volume of approximately $44.79 billion. The second crypto asset by market capitalization and largest altcoin now has officially made a new all-time high and awaits to make it support instead of a resistance level.

A Closer Look at Ethereum and Its Ecosystem amid New ATH

The asset is closely following the footsteps previously made by bitcoin before surpassing its all-time high. The Ethereum ecosystem has experienced a sharp uptick in blockchain activity, bolstered by the huge institutional and retail demand. Apparently, the Ethereum ecosystem settles 28% more transactions daily than the Bitcoin ecosystem.

“Ethereum’s daily transaction volume is going parabolic. It now settles $12 billion in transactions daily – $3 billion more than Bitcoin. Imagine not being bullish,” asserted Ryan Watkins, a researcher at Messari, a data aggregation portal.

However, the high transaction fees have choked a significant amount of volume from small retail traders.

Ethereum developers are working on implementing Eth 2.0 that supports proof of stake away from the energy-consuming proof of work. With phase 0 already up and running, investors are optimistic the high transaction issue will be solved and allow the scalability of the system.

Notably, the Ethereum ecosystem has significantly benefited from the booming decentralized finance industry. Most of the Defi projects are supported by the Ethereum blockchain despite of the growing competition from the Binance Smart Chain. Metrics provided by Defi pulse indicate the DeFi ecosystem has surged tremendously since January 2020. The total value locked in the entire defi ecosystem stands at approximately $25.2 billion.

Ethereum market price continues benefiting from the depreciating supply and increasing demand. Notably, with the introduction of staking, a significant amount of Ethereum units have been locked to facilitate the system. At the time of writing, there are approximately 114,315,516 in circulating supply.

Similar volatility has been experienced in other top-ranked altcoins including Litecoin and Bitcoin Cash. However, Bitcoin remains trapped in a consolidation mode, whereby its down approximately 1% in the past 24-hours.

Ethereum market price remains highly undervalued, whereby both analysts and investors remain optimistic the rally will be enormous by the end of the year.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
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CoinShares to Float Bitcoin-backed ETP on SIX Swiss Exchange

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The ETP product is set to complement CoinShares’ strategy in pushing Bitcoin into the mainstream cycle of adoption.

CoinShares, the world’s first digital asset investor to launch a regulated Bitcoin investment fund and the world’s first bitcoin-based securities on a regulated exchange is set to expand its tentacles by launching a Bitcoin-backed Exchange Traded Product (ETP) on Switzerland’s SIX Exchange. According to Bloomberg which first broke the news, the CoinShares ETP is billed to start trading on the exchange today, the 19th of January under the ticker symbol BITC.

The massive entry of Institutional investors into the Bitcoin investment world has necessitated the need for digital asset service providers to churn out enticing products and services that will endear the more conservative investors to the highly volatile crypto ecosystem. The rollout of Exchange Traded Products is one great way to achieve this and CoinShares is leveraging the receptiveness of European bourses to do this.

The ETP will be physically backed by Bitcoin at a rate of 0.001 Bitcoin which is about $37.4 at the time of writing. The ETP will charge an expense ratio of 0.98% and custody for the assets will be provided by Komainu, a venture that sprung up a mutual alliance by Ledger, Nomura Holdings Inc, and CoinShares.

“A lot of institutional clients have a very strong due-diligence process, and we wanted to bring to market a best-in-class product to embrace that demand,” said Frank Spiteri, chief revenue officer at CoinShares. “We are ready, as of January, to embrace the forthcoming demand from institutional clients.”

CoinShares ETP Launching with $200M AUM

The CoinShares ETP was off to a great start as the entity was floated with about $200 million assets under management and this kick-off figure was confirmed by CoinShares Chief Strategy Officer, Meltem Demirors.

The ETP product is set to complement CoinShares’ strategy in pushing Bitcoin into the mainstream cycle of adoption. With the price of Bitcoin winking at corporate entities, the forecast to see many more institutional investors take a position with Bitcoin this year is more likely than ever. The coin whose surge in value topped $42,000 in the past days has been favored to soar as high as $146,000 by analysts from JPMorgan Chase & Co (NYSE: JPM).

In readiness to take advantage of the avalanche of inflows from more investors across all divide, the CoinShares ETP will serve as a viable reference and goto product, both in Europe and beyond for every investor who wishes not just to gain exposure to Bitcoin, but to also benefit from the increase in the coin’s valuation over time. 

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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