This is a promoted post. Read more in our Editorial Policy We’re big fans of Trezor Hardware Wallets, having used them for several years now to secure crypto (mainly bitcoin and ethereum). So we were delighted when Satoshilabs, the creator of the wallets and Slush Mining Pool asked us if we’d like to get our hands on one of the new Model T . So as the first in our series of articles about the new model of the original crypto hardware wallet, we’re going to look at how you can order one and have a look at what you get Source: https://bitcoinsinireland.com/buying-unboxing-trezor-model-t-crypto-hardware-wallet/
Bitfinex Opens Trading for Two of Europe’s Largest Stock Indices
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BTC Analysts Believe A Short-Term Upside Is Possible: Opinion
BTC Analysts believe that a short-term upside for the number one cryptocurrency is possible as it consolidated around $10,700. The coin surged higher along with a positive open in the legacy markets and the price of the coin is now hovering above $10,900 which is the highest one in a week as we reported in the bitcoin price news earlier.
BTC Analysts believe that Bitcoin could have some more room to grow to the upside as it recaptures resistances in the $10,000 region. During the move higher, millions were liquidated across margin platforms which suggests that there are traders that are in a good position before the open of legacy markets. Analysts believe that Bitcoin will extend higher in the close term. One analyst even shared a chart below showing the importance of the ongoing move higher.
MACD OPENS RED FOR THE FIRST TIME SINCE APRIL 20th
— Josh Olszewicz (@CarpeNoctom) September 28, 2020
Bitcoin is breaking higher now as the charts suggest which means that it will soon go to test the resistance levels of $11,200 and $11,400 where the cryptocurrency crashed a few times during the bearish retracements in August. The chart noted that after the rally towards this level it could return to levels of $10,600 which is in line with the sentiment shared by other analysts that BTC is in a period of a market cycle where it will consolidate more for weeks instead of establishing a firm direction. Bitcoin’s medium-term however could be bleak.
Josh Olszewicz, an analyst at Brave New Coin, reported that the weekly MACD for the number cryptocurrency is red for the first time since April which only suggests that the medium-term sentiment could be bearish despite the recent price action to the upside. The correction in the medium-term will alight with the normal uncertainty that markets see in a time of presidential elections along with the seasonal weakness that is usually seen in November and October.
Bitcoin stayed above the $10,000 as we reported a day ago in our Bitcoin news, that support and started a decent recovery wave but the price is trading still above the $10,550 resistance and the 100 simple moving average. There was also a key bearish trend line broken with the resistance at $10,600 on the 4-hour charts of the pair. The pair will likely continue higher if there’s a clear break above $10,800. Over the past week, BTC found support above the $10,100 level against the US dollar and remained well bid above the $10,200 level when it started a steady recovery wave.
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Bitwise Bitcoin Fund Doubles to $9M as Investor Fears Grow Over Runaway Inflation
Accredited investors worried about out-of-control inflation have poured millions into Bitwise’s bitcoin fund as a means to preserve the value of their portfolios.
An amended filing with the Securities and Exchange Commission (SEC) last week showed the asset manager had raised, in total, just under $8.9 million for its Bitcoin Fund, which provides accredited U.S. investors with exposure to bitcoin through a traditional product.
This marks the single-largest increase in assets raised in the fund’s two-year history. A filing from 2019 shows the Bitcoin Fund had attracted $4.1 million in investment, meaning the fund has more than doubled in size in the past year.
While bitcoin has come on in leaps and bounds in its acceptance among the traditional investment community, Bitwise’s head of research, Matthew Hougan, told CoinDesk the more immediate cause for the surge in the fund’s size came from concerns over runaway inflation.
“With the unprecedented expansion of the Fed’s balance sheet, the radical amounts of fiscal stimulus, and the Fed’s new and significantly more dovish inflation policy, [Bitwise clients] are looking for a hedge,” he said in an email.
“Bitcoin is the most efficient hedge for inflation that exists in today’s market,” he added.
Fiscal stimulus has become a favored tool for governments and central banks as they battle to keep economic activity alive in the wake of the pandemic. The Federal Reserve initially pumped more than $2.8 trillion into the economy and dropped interest to rock-bottom rates.
As Congress debates another $2.4 trillion stimulus package in the run-up to the November elections, Fed chair Jay Powell said this month that the central bank was unlikely to tighten monetary policy for at least three years and will even tolerate inflation above the 2% target in order to make up for the drop in consumer prices during the peak of the pandemic.
Hougan said that many of Bitwise’s clients were financial advisors who serve wealthy investors, themselves wary about the debilitating effects inflation can have on their portfolios. Many investors see Bitcoin’s fixed supply of 21 million as a means to preserve value in the event loose monetary policy leads to runaway inflation.
Indeed, other fund managers have experienced similar surges in demand from the same stratum of well-heeled investors. In the summer, $250 million found its way into three funds run by the New York Digital Investments Group (NYDIG); Pantera Capital told the SEC in August it had received nearly $165 million in placements from qualified investors – those worth at least $5 million.
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