Holpop News

The price of Bitcoin (BTC) burst through the critical mark at $40,500 as news reports Tesla added $1.5 billion in Bitcoin to its balance sheet. This news event moved the market to fresh all-time highs, bringing $50,000 at the next big level of resistance.

The 4-hour chart shows an apparent breakthrough of the $40,500, which was crucial for more upside as the Tesla news resulted in the biggest daily green candle ever for Bitcoin.

The next level of interest, as the charts showing, is the psychological barrier of about $50,000. It’s the next big Fibonacci standard as well. The 1.618 Fibonacci level is also used to estimate price discovery speeds as a key predictor.

Another important level to watch for Bitcoin is the order block around the $43,300-$43,700 area. Continuation to the upside is likely as long as that area holds.

In the middle of a major boom in the crypto industry, Russia has recently imported thousands of crypto-currency mining devices.

A senior executive at BitRiver, Russia’s largest provider of crypto mining colocation services, reported that over 20,000 crypto mining devices were obtained by a local customer, reports Russian news agency Kommersant Feb. 10.

Igor Runets, founder and CEO of BitRiver, said the overall mining capacity of the imported hardware is 70 MWh, which is allegedly expected to make up Russia’s biggest single batch of crypto mining hardware. Runets said that the hardware was delivered in December 2020 and was immediately set up for Bitcoin (BTC) mining in Bratsk — a city in Russia that has one of the country’s largest hydropower stations.

The legend of Hedge Fund Bill Miller exhibits an even stronger appetite for Bitcoin (BTC). The Miller Opportunity Trust is seeking indirect exposure to BTC through the Grayscale Bitcoin Trust, according to a Friday filing with the United States Securities and Exchange Commission.

The planned investment is coming at a time when the GBTC premium is at its lowest level since April 2019.

If the purchase of GBTC securities is pulled in, it will represent a major departure for the $2.25 billion fund from the normal investment in equities and derivatives. Indeed, the trust’s website lists airlines, healthcare and finance as the subject of its key investment role.

Miller is a noted Bitcoin proponent himself. The legendary Wall Street trader committed 30 percent of his hedge fund into Bitcoin back in 2016. Since then, with the BTC game, this proportion has risen to over 50 percent, leading to significant growth in the value of the Miller hedge fund.

According to an expert at the global financial publication Investing.com, Bitcoin (BTC) is expected to reach $ 60,000 in 2021 in the midst of rising mass acceptance.

In the first half of 2021, Jesse Cohen, a senior financial analyst at Investing.com, estimated that Bitcoin will definitely hit a level of $60,000.

Cohen’s claims come in accordance with Investing.com’s latest crypto-related poll, according to which 63 percent of respondents in the UK are planning to buy a Bitcoin in 2021. More than 60% of the 800 respondents have said they expect that in 2021, Bitcoin would climb above $60,000.

Despite growing confidence about Bitcoin’s rally in 2021, there are many concerns about the surrounding regulatory climate. “With Bitcoin moving into the mainstream and capturing greater attention, it will likely draw further scrutiny from regulators in the United States, Europe and Asia,” Cohen said.

Data from statistical resources Alexa and Similarweb reveals that Coinbase is currently among the top 1,000 most popular websites in the world.

As BTC/USD circles all-time highs, its run to $42,000 in January appears to have sparked a tsunami of new user engagement with some of the most popular cryptocurrency trading platforms.

In the U.S., the focal point of institutional inflows into Bitcoin in recent months, exchanges Gemini, Kraken and Binance U.S. are all part of the top 10,000 global sites.

Though Binance only beats Coinbase in terms of worldwide visitors, the latter dominates the domestic market, ranking 386th among U.S. internet users. The data relates to December 2020, with the crypto rush expected to boost the popularity of hiking exchanges even further at the start of this year.

With more than 22.3 million unique addresses actively sending or receiving BTC over 31 days, January was a milestone month for the price and network operation of Bitcoin.

Crypto business data aggregator Glassnode spotted the milestone, tweeting that January had seen the largest monthly number of unique active addresses in the history of Bitcoin.

The spike in activity in January beats the previous high of more than 21 million December 2017 active addresses. The number of unique addresses that connect with Bitcoin has not dropped below 10 million a month since 2017.

Despite the increase in unique active wallets, Glassnode also noted the number of “active entities” on the Bitcoin network has decreased significantly since spiking into new highs in early January.