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The billionaire and owner of the Dallas Mavericks basketball team said he has always invested in Bitcoin because of the limited supply of coins, which could drive a bullish rally for the first cryptocurrency. Mark Cuban is confident that the demand for the first cryptocurrency will exceed the number of traders selling it. Therefore, Bitcoin is one of the best means of saving savings. When asked what part of the investment portfolio is in cryptocurrencies, the businessman could not clearly answer: “I don’t even know how much, but I’m happy with these investments. In particular, Bitcoin. There is also ether, but in smaller quantities. The dynamics of BTC depends on supply and demand. The number of coins will total 21 million. The more people buy Bitcoin, and the fewer people sell, the higher the rate will be. This is the nature of cryptocurrencies, which is why I invest in Bitcoin. I am confident that demand will exceed the number of sellers.” The owner of the Dallas Mavericks refrained from speculating on whether the US Securities and Exchange Commission (SEC) will approve spot exchange-traded funds for ether. According to Cuban, Ethereum operates differently from Bitcoin because Ethereum is more focused on functionality. Therefore, more and more applications based on this network are appearing. “The biggest disadvantage of cryptocurrencies so far has been that there hasn’t been a single application that someone’s grandmother would want to download, explaining: all her friends use this. All crypto applications need to be very easy to use, then cryptocurrencies will be used everywhere,” said Mark Cuban. 🌐https://btcbit.net

Bitwise chief investment officer Matt Hougan said record trading volumes in Bitcoin spot ETFs show interest in the products, but the real wave of investment is ahead. According to Matt Hougan, the introduction of spot Bitcoin ETFs is an extremely important step, but it is equally important that institutional capital gains access to ETFs, that is, that the ability to trade ETF shares becomes available to large clearinghouses and brokerages. “I think that in a few months, this area will see an even larger wave of funds when we see the activation of the main exchanges and clearinghouses. It is institutional capital that will be the basis of this wave. At the same time, there is already too much demand for Bitcoin and insufficient supply of the asset,” Hougan noted. The Bitwise investment director also noted that currently, the main participants in trading in Bitcoin funds remain retail traders, hedge funds, and independent financial advisors. And large institutional capital is still “swaying.” It is worth noting that yesterday, February 29, one of the largest investment banks in America - Merrill Lynch and Wells Fargo - provided the opportunity to trade spot Bitcoin ETFs to their wealthy clients. However, according to Bloomberg, these products are currently only available upon special customer request. Hougan emphasized that the influx of institutional funds “will push the price of Bitcoin significantly higher,” perhaps up to $100,000 per coin this year. In general, he said, the emergence of Bitcoin ETFs “launched a new era of discovery” in the financial industry. Let us recall that on February 29, investors invested $673 million more in BTC spot funds than they withdrew. 🌐https://btcbit.net

The CEO of Tether expects that soon the majority of fund managers will realize the potential of Bitcoin and will increasingly include this asset in their investment portfolios. Paolo Ardoino is confident that the appearance of bitcoins on the balance sheets of large investment companies will become quite common. When the US Securities and Exchange Commission (SEC) approved spot BTC exchange-traded funds (ETFs), it boosted the confidence of sophisticated institutional investors in cryptocurrencies. " “Cryptocurrency ETFs have not only expanded the availability of Bitcoin in traditional markets, but also ensured the legality of indirect investments in the crypto asset through regulatory approval,” said the Tether executive. Ideally, investment firms could hold about one-fifth of their assets in Bitcoin, Ardoino suggested. This could increase institutional interest in digital assets to add variety to their investment strategy. Cryptocurrency regulations are starting to take shape in some countries. Considering that Bitcoin is already used as legal tender in El Salvador, other jurisdictions should quickly resolve the issue of introducing crypto assets into their financial system, the businessman insists. 🌐https://btcbit.net

Matrixport analysts suggested that Bitcoin could reach $63,000 by March 2024. Several factors will contribute to this. The main factor that may affect the growth of the rate of the first cryptocurrency is the influx of funds after the approval of spot Bitcoin ETFs in the United States. The emergence of such funds in the United States has expanded access to BTC, which confirms the growing interest of large companies in it. An increase in demand for Bitcoin from institutions could lead to growth in the crypto market, Matrixport analysts noted. Another important factor is the upcoming Bitcoin halving, which is scheduled to take place in April. Previously, halving the reward to miners has repeatedly led to an increase in the Bitcoin rate. However, it is unclear whether a similar trend will continue this time. Although the halving affects the balance of supply and demand, market dynamics and international events can also have an impact on Bitcoin. Another catalyst for growth could be a potential interest rate cut by the US Federal Reserve (Fed). The Fed's policy may increase demand for riskier assets, which, in turn, will increase interest in Bitcoin, analysts believe. The upcoming presidential elections in the United States may also affect the dynamics of Bitcoin, even if the impact of such political events on the cryptocurrency market may be indirect. 🌐https://btcbit.net

Ripple CEO Brad Garlinghouse said he welcomes the launch of exchange-traded funds (ETFs) linked to XRP and expressed optimism about spot ETFs for other cryptocurrencies. In an interview with Bloomberg, Brad Garlinghouse noted that many members of the crypto community are expecting the appearance of exchange-traded funds on XRP. Garlinghouse said that Ripple supports this idea, but he did not talk about the company's plans in this direction. In November 2023, information appeared in the media that BlackRock was preparing to launch a spot ETF on XRP and had submitted a corresponding application to the American regulator. The company later denied these rumors. Amid false news, the XRP rate jumped to $0.75. When asked if Ripple is currently in talks with asset manager BlackRock about issuing an ETF, Garlinghouse responded with the following: “I think launching an ETF makes sense for the entire XRP community. Therefore, the launch of spot ETFs on XRP will be inevitable in the future. Ripple is an important participant in the XRP ecosystem, but we are not the only player, so I will not comment specifically at this time,” Garlinghouse said. He commented on the recent approval of spot Bitcoin ETFs in the United States. The “sad reality,” he said, is that the U.S. Securities and Exchange Commission (SEC) only approved Grayscale’s bid after a trial. Currently, XRP-linked exchange-traded funds are not yet available in the US. However, the CEO of Ripple suggested that in the future exchange-traded funds for other cryptocurrencies will appear on the market. “I think it makes sense to launch ETFs for other crypto assets. It's like the early days of the stock market, where you don't want to deal with just one stock or one company. Typically, an investor would like to think about risk diversification. However, it is difficult to say when such funds will appear,” Garlinghouse added. 🌐https://btcbit.net

ETH rose to $2,686, following Bitcoin, which rose above $50,000 for the first time since 2022. The price behavior of Ethereum and Bitcoin has been closely correlated for many years. A few days ago, Bitcoin crossed $50,000, which opened the way for Ethereum. Later, the ETH price corrected slightly, and the coin is now trading at $2,660. The reason for the growth of the second cryptocurrency could be the active attempts of American legal entities to obtain permission from the US Securities and Exchange Commission (SEC) to launch spot ETFs for ether in the first half of 2024. Recently, holding company Franklin Templeton joined these companies in expressing its readiness to launch an ETF for ether. The ETH price has been growing rapidly over the past few weeks. Investors are again gaining optimism, expecting that in the coming months a new bullish trend will emerge in the crypto market, and Ether will break through the $3,000 mark. An important prerequisite for growth was the launch of the Dencun update on the testnet. The developers promised to deploy the update to the Ethereum main network in March. 🌐https://btcbit.net

The value of the first cryptocurrency by capitalization on Monday, February 12, on large trading platforms exceeded a psychologically important barrier. In the evening, the cost of the first cryptocurrency by capitalization broke through the upper support line at $48,300 - $48,500 and rushed up, at some point reaching $50,120. These are values close to the historical records of December 2021. After a series of aftershocks, the weighted average price of BTC on the world’s leading crypto exchanges varies from $49,910 to $50,046. After the first bounce from the $50,000 border, the market tested the upward trend again and again. 🌐https://btcbit.net

The first cryptocurrency by capitalization is coming close to the $48,000 resistance line, which could cause massive liquidation of traders’ positions and a rebound, according to data from the analytical portal Coingecko. On the afternoon of Friday, February 9, Bitcoin made a confident breakthrough and is demonstrating a rapid increase in market value. By the evening, BTC had surpassed the level of $47,300 and came close to the so-called decision line of $48,000. If technical analysis is to be believed, if the resistance level is broken, BTC could reach a yearly high of $49,000 before the end of the month. A big bonus for positive sentiment in the crypto market is the entry of the weekly stochastic impulse indicator RSI into the oversold zone. On a weekly timeframe, this usually always leads to an increase in the value of the crypto asset. At the same time, Coingecko experts recommend that crypto traders exercise reasonable caution as there is a high probability of a rebound from the upper resistance line at $48,500. According to the information portal CoinMarketCap, over the past 24 hours, the market value of Bitcoin has increased by 6.2%. On the weekly timeframe, BTC recovered its fall and grew by 11%. 🌐https://btcbit.net

Ethereum developers launched the Dencun update on the Holesky testnet around 6:35 a.m. Eastern Time (EST; 2:35 p.m. the previous day GMT). The move is the latest ahead of the upcoming mainnet launch, which is scheduled for March. On January 17, Dencun was deployed on the Goerli test network, and on January 30, on the Sepolia test network. Dencun is expected to launch on the mainnet in early to mid-March. The name Dencun combines the names of the Cancun update, designed to improve the level of execution, and Deneb, whose task is to increase the level of consensus. Dencun's main function is in proto-danksharding (EIP-4844). This feature includes so-called blobs, which will allow Ethereum nodes to temporarily store and access large amounts of off-chain data. EIP-4844 will reduce network storage requirements and significantly reduce transaction costs for decentralized applications based on Ethereum, the developers believe. This will be of particular benefit to second-level rollups, increasing the efficiency and scale of data processing. Protodanksharding should lower the barriers to entry for both developers and users. The Dencun update follows a major Shapella update launching in Spring 2023. Shapella was an important milestone for Ethereum, as this update allowed users and validators to withdraw staked Ethers. 🌐https://btcbit.net

The volume of transactions in the network of the first cryptocurrency has been growing for the fourth month in a row and reached $1.21 trillion in January. This is the highest figure since September 2022. The growth of the cryptocurrency market leads to both an increase in user activity and an increase in the volume of transactions. If BTC now costs $43,000, then in September 2022 the coin was trading at $20,000. However, the monthly transaction volume was even higher than the current one. Throughout 2023, the monthly transaction volume on the Bitcoin network did not exceed $1 trillion, with the exception of December. Analysts attribute this to the fact that traders were expecting the launch of spot Bitcoin ETFs, and after the appearance of such funds they increased their activity. The number of transactions on the Bitcoin network in December last year was even greater than in January 2024 - 17.54 million versus 14.74 million. Moreover, the growth began in 2023. This is mainly due to the emergence of an NFT analogue - Bitcoin Ordinals. The maximum volume of transactions was recorded in November 2021 - $8.15 trillion, but only 8.3 million transactions were completed during the month. 🌐https://btcbit.net