Deutsche Bank, the largest bank in Germany, has been preparing a cryptocurrency custody service for institutions for a few months. Ultimately, the bank also plans to create a platform for the exchange and issuance of tokens.

Deutsche Bank enters the world of cryptocurrencies

World Economic Forum report titled „Crypto, What It’s For: An Overview of Cryptocurrency Use Cases“ Outlines That Deutsche Bank Plans To Launch A Cryptocurrency Custody Service In 2021 .

As the media Coindesk indicates , the arrival of the largest German bank in the world of Crypto Genius scam has curiously passed under the radar, the report having been published in December 2020.

“Deutsche Bank aims to develop a custody platform that is fully suited to institutional clients and their digital assets, providing seamless connectivity to the larger cryptocurrency ecosystem,” the report read.

Deutsche Bank’s goal is clear. The bank wishes to offer its clients a cold storage solution of institutional quality , which will be accompanied by insurance cover.

This new ecosystem for cryptocurrencies will be launched in 4 stages, and will go beyond the “simple” conservation of funds.

The first phase will effectively focus on providing a custodial service for large investors. The second phase will offer the possibility for Deutsche Bank customers to buy and sell their goods through partners.

More interestingly, the third phase will introduce plethora of “ value-added” services related to cryptocurrencies such as tax assistance, loans, staking and even the integration of third-party providers within the platform.

Finally, the last step for Deutsche Bank will be to natively provide token trading and issuance capabilities .

Project already well advanced, the report tells us that Deutsche Bank has completed its proof of concept and is targeting a minimum viable product in 2021 .

Cryptocurrencies invite themselves to banks

Deutsche Bank is one of a number of leading banks to have entered cryptocurrency in recent times. Since the price of Bitcoin (BTC) continues to climb, major banks around the world are taking a new look at cryptocurrency.

The announcements follow one another, between The Bank of New York Mellon which will also offer services related to cryptocurrencies, or JPMorgan, which will integrate Bitcoin trading if demand becomes sufficient .

Along with private banks, some central banks are very open to the idea of ​​buying Bitcoin. This is particularly the case of that of Kenya, which plans to acquire Bitcoin to fight against the depreciation of its currency , the shilling.

This trend is not new, but has accelerated greatly in recent weeks, especially since Tesla’s investment of $ 1.5 billion in Bitcoin was made public.

All of this continues to take Bitcoin to new heights and contributes to the adoption of cryptocurrencies, both with institutions and individuals.

Eine große Geschichte der letzten Monate ist die Einführung von institutionellem Kapital in den Bitcoin- Bereich.

Es begann im Jahr 2020 mit Paul Tudor Jones, einem Milliardär an der Wall Street, der einige Prozent seines Fonds in BTC-Futures steckte. Er tat dies in Vorbereitung auf die Halbierung im Mai und schrieb, dass Anon System aufgrund seiner Knappheit das „ schnellste Pferd im Rennen “ in einer Welt sein wird, in der es eine grassierende Inflation gibt.

Jones ‚Kollegen an der Wall Street folgten diesem Beispiel

Viele Makroinvestoren, die dafür bekannt sind, asymmetrische Wetten wie BTC und Crypto abzuschließen, haben seitdem die Bitcoin-Pille gebissen. Auch Family Offices beginnen, Bitcoin zuzuweisen, da sie versuchen, aus überbewerteten Vermögenswerten heraus zu diversifizieren.

Dennoch ist nicht die gesamte Wall Street auf Bitcoin.

Ein typisches Beispiel: Fidelity Investments verwaltet allein ein Vermögen von mehr als 3 Billionen US-Dollar, was der dreifachen Marktkapitalisierung des Kryptowährungsraums entspricht.

Scott Minerd , CIO von Guggenheim Investments , der kürzlich den Bitcoin-Fehler entdeckt hat, sagte kürzlich in einem Interview, dass mehr Anleger einen kleinen Teil ihres Portfolios diesem Bereich zuweisen sollten.

Bitcoin sollte von den meisten Anlegern gekauft werden

In einem am Freitag veröffentlichten Interview mit Bloomberg erklärte Minerd, dass die meisten, wenn nicht alle Anleger einige Prozent ihres Portfolios in Bitcoin haben sollten. Er sagte:

„2% Ihres Portfolios werden 20% Ihres Portfolios sein, bevor dies vorbei ist. Sie möchten also nicht zu übergewichtet werden, aber eine Allokation von ein paar Prozent Ihres Portfolios scheint sicherlich ein umsichtiges Spiel zu sein. “

Der Kommentar impliziert im Wesentlichen, dass BTC in den kommenden Jahren 1.000 Prozent zulegen könnte, um kleine Zuweisungen an Bitcoin an größere zu verstärken.

Dies ähnelt den Kommentaren von Investoren wie Tudor Jones. Sie sagen, dass Bitcoin in Ihrem Portfolio eine rationale Wette ist, da es in anderen Anlageklassen extrem überteuert ist und die Inflation in der Wirtschaft und auf den Finanzmärkten enorm hoch ist.

Minerd hat sein Interview jedoch zurückgehalten, indem er erklärte, dass Bitcoin derzeit in einem kurzfristigen „spekulativen Wahnsinn“ oder einer Manie steckt.

Er wies ausdrücklich darauf hin, dass Krypto-Börsen wie Coinbase und andere so überlastet werden, dass sie ernsthaft nicht mehr funktionieren können und eine gewisse Nachfrage begrenzen mussten.

Bitcoin ist jedoch möglicherweise noch nicht überstiegen. Wie bereits von CryptoSlate berichtet , hatte die Kryptowährung während der Korrektur am Montag einen wichtigen technischen Support.

The Bitcoin price has climbed the last major hurdle and is now making $ 100,000 possible, according to on-chain data.

Bitcoin ( BTC ) price has overcome the resistance between $ 21,000 and $ 22,000, rising to over $ 23,000 on December 17 . On-chain analyst Willy Woo said $ 100,000 is now a „ridiculously low“ target.

The $ 21,000 level was particularly important for Bitcoin Fortune to continue its rally in the short term. The exchanges‘ heatmaps showed a stack of sell orders between approximately $ 21,000 and $ 21,500. This means that BTC price had to break this area in order to maintain another uptrend.

The Bitcoin Top Cap Model now says that $ 100,000 is a conservative target

The exchange’s heatmaps show no visible resistance levels and areas with large sell orders above $ 22,000. In the short term, that means there is a good chance that BTC will continue its rally.

Woo said the BTC top cap model shows that $ 100,000 is a „ridiculously low target“ due to bullish market sentiment and the crisis on the sales side. He explained :

„We’re not yet at the point where the BTC top cap model is gradually bulging upwards. Let’s see how high it goes in 2021. $ 100,000 is a ridiculously low target with current developments. $ 55,000 -Dollar is the next milestone -> Bitcoin will be a macro-wealth container valued at $ 1 trillion. “
Woo emphasized that $ 55,000 is a milestone for Bitcoin because it would mean that BTC would have reached 10 percent of gold’s market cap.

Currently, the total gold market value is around 9 trillion. US dollars valued. Above $ 50,000, Bitcoin would gradually eat up a relatively large chunk of the market capitalization of gold, which remains the dominant safe haven.

Bitcoin order book and heat map

The order books of the exchanges and the development of the volume also show that the traders have placed their sell orders further up. They expect Bitcoin to rise to $ 30,000 after breaking the $ 20,000 mark yesterday .

If the momentum in futures , options and spot markets hold up in the coming days, it is very likely that $ 30,000 will become the first local spike for BTC.

Data from the options markets show: Institutions remain bullish

Institutional funds remain bullish on Bitcoin, according to Deribit Insights, the research arm of the largest cryptocurrency options exchange.

In the options market, call options represent buy orders and put options represent sell orders. So if the buyers of call spreads increase, it shows that a bigger Bitcoin rally is expected.

Deribit Insights said the exchange has been watching large buyers of call spreads. That indicates a bullish bias. They said :

Institutional funds seem to remain bullish. Large buyers of call spreads (20,000-24,000 popular, pre-20,000 breakthrough). Today January and February calls for 22,000 both bought x250. January calls for 30,000 bought x500. Some calls post gains, others hold positions from January and February. ATM 19,500 – 20,000 puts sold – bullish. „

The software manufacturer is underlining its belief in Bitcoin with bond sales totaling US $ 650 million.

Major software company MicroStrategy (MSTR) announced on Friday that it had generated $ 650 million from bond sales to further invest in Bitcoin ( BTC )

Accordingly , on Friday, MicroStrategy disclosed that it had sold $ 650 million in its own corporate bonds, which have an interest rate of 0.75% with a term until 2025. The interest payments are due every six months, with these being settled on June 15 and December 15.

In the associated press release, the software manufacturer confirms that the funds raised are to be invested in the market-leading cryptocurrency:

„MicroStrategy intends to invest the net proceeds from bond sales in Bitcoin, provided the capital generated is not needed for other corporate purposes.“

The sales came just days after the company first announced that it would sell bonds to invest in Bitcoin. As previously reported by Cointelegraph , MicroStrategy originally intended to raise “only” 400 million US dollars. With 650 million US dollars, the software manufacturer could buy more than 36,300 BTC at the current price.

MicroStrategy caused a stir this year when the company made public that it had invested large parts of its assets in Bitcoin. In the run-up to the investment , CEO Michael Saylor said at the time that his company was „sitting on a $ 500 million melting iceberg“ that had to be saved.

MicroStrategy currently owns 40,824 BTC, which is currently equivalent to more than $ 734 million. Just by switching to Bitcoin , the company made just under $ 260 million in profit

However, some Wall Street analysts warn that MicroStrategy may now be too heavily invested in Bitcoin. Until recently, the volatility of the cryptocurrency was the main reason for many institutional investors to distance themselves from it. Citibank recently downgraded MicroStrategy shares because, in their opinion, the company is “disproportionately” reliant on Bitcoin.

MicroStrategy is probably the largest Bitcoin investor among the companies, but it is far from the only one. After listed companies such as Galaxy Digital (GLXY), Square (SQ) and Hut 8 Mining Corp (Hut-8) each invested between 36 million and 134 million US dollars in Bitcoin, the American insurance company MassMutual is for its part this week entered the market-leading cryptocurrency with 100 million US dollars .

After all three altcoins Ethereum (ETH), Ripple (XRP) and IOTA (MIOTA) reached new annual highs at the beginning of the week, the Bitcoin sell-off in the last 48 hours caused significant price setbacks for all three altcoins.

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The bullish rally this week brought Ethereum into the target area at the 261 Fibonacci extension at $ 608. The high marked the ether price at 620 US dollars. In the course of a significant price correction yesterday, Thursday, November 26, the Ether price corrected by 20 percent back to the breakout level at 485 US dollars. At this important price mark, the first buyers came back into the market and let Ethereum rise to currently 517 US dollars. The significant price correction on the overall market, led by Bitcoin (BTC) with a price slide of more than 3,000 US dollars, now has to be digested.

Bullish variant (Ethereum)

If the bulls can stabilize the ether price above 488 US dollars in the coming days, another increase to the 61 Fibonacci retracement at 550 US dollars is conceivable. If investors can stabilize the price above this mark at the end of the day in anticipation of the Ethereum 2.0 network launch on December 7th, a renewed increase to the annual high of 620 US dollars can be planned. Only when this high is dynamically overcome, however, is a subsequent rise in the direction of the 78 Fibonacci retracement at 678 US dollars likely. A sustained bullish mood should lead the Ether price in the coming weeks to the price target mentioned several times at 720 US dollars. If the key currency Bitcoin (BTC) reaches a new all-time high and breaks above the 20,089 US dollar, Ethereum should also continue to perform and reach the maximum price target of 842 US dollars. In perspective, a continuation of the rally on the overall market is likely to lead the Ether price to around 1,000 US dollars in 2021.

Bearishe Variante (Ethereum)

After weeks of abstinence, the bears have made an impressive return in the last few days and caused a sale up to the supertrend at 488 US dollars. So far, the sellers have not been able to push the ether price below the breakout level at $ 488. Ethereum continues to trade above the EMA20 (red) at $ 504 for the time being. If this sliding support is undershot by the daily closing price and the US $ 485 is broken, the bears will try to correct the rate up to US $ 460 (50s Fibonacci retracement). If this support is abandoned, the correction is likely to expand to around $ 440. In this area there is a first battle of strength between bulls and bears. If the course falls under this support,

This cross support from the uptrend line and horizontal support can be seen as pointing the way for the coming weeks. If Ethereum falls dynamically below this strong support, the current rally is over for the time being and the retest of lower prices is to be planned. If the weak support levels of 409 US dollars (EMA100) (yellow) and 383 US dollars are also undercut, a relapse to the EMA200 (blue) must be planned. The key support area between US $ 371 and US $ 363 therefore comes back into focus. If, contrary to expectations, the market as a whole should correct more sharply downwards, price reductions back to the September lows at USD 318 cannot be ruled out in the medium term. However, as long as the ether price is quoted above $ 420,

La senadora electa de EE. UU. Y ex tesorera del estado de Wyoming, Cynthia Lummis, dice que los estados deben liderar el camino en la creación de políticas que permitan que Bitcoin Up funcione de la manera en que fue diseñado.

En una entrevista con Peter Chawaga de Bitcoin Magazine, Lummis explica por qué cree que el gobierno federal debería pasar a un segundo plano y dar rienda suelta a los estados para innovar en los mercados de Bitcoin y criptomonedas

“Lo divertido de los estados es que cuando se ven innovando, tienden a imitar, y luego verá que la innovación puede despegar en una dirección diferente en un estado diferente. Creo firmemente que los estados serán el nivel de gobierno adecuado, el lugar adecuado para que ocurra la innovación. Por eso quiero mantener a raya al gobierno federal y dejar que los estados funcionen con sus capacidades más emprendedoras y ágiles „.

Lummis dice que planea explicar a sus colegas legisladores por qué deberían evitar sobrerregular el mercado naciente.

“Así que mi primer objetivo es [mantener] a raya al gobierno federal. Hágales saber que esta no es un área en la que deban regular, y deje que los estados sean los incubadoras de la innovación, y permitan que esa innovación se incuben y nutran aquí …

Creo que hay muchos malentendidos sobre Bitcoin, pero creo que nuestra presencia en el Senado de EE. UU

Puede ayudar a mantener las cosas a raya legislativamente. El desafío será mantener a raya la regulación en el poder ejecutivo, y dado que aún no sabemos cómo será el poder ejecutivo, ciertamente la estructura financiera, las formas en que nuestras leyes financieras se implementan órdenes o mediante la reglamentación. Esas serán áreas que tendremos que vigilar y monitorear ”.

Los logros del estado de Wyoming en la innovación de Bitcoin son un excelente ejemplo de lo que los estados podrían hacer cuando el gobierno federal les permite innovar, dice Lummis.

„En mi vida, [el] gobierno estatal siempre fue el más innovador, ágil y creativo que hace las políticas en comparación con el gobierno federal, y por eso veo que eso está sucediendo en mi estado natal de Wyoming“.

According to an analysis published in the news portal CoinTelegraph, Bitcoin and ETH operators maintain an optimistic attitude.

This is due to the fact that the price of both cryptosystems remains at a key point in the charts to sustain its upward trend.

It’s important to highlight that, during the last few days, ETH has had a performance that surpassed that of Bitcoin Profit by up to 20%. However, a few hours ago, the most popular of the digital coins, broke the $19,000 barrier after several resistance tests.

In this way, and taking the data from the derivatives markets as a reference, in both cases, there is still a high level of optimism. In the same way that Bitcoin is heading for its historical high, ETH is entering a parabolic rally.
Bitcoin operators continue to maintain their optimistic attitude

It’s important to reaffirm that both Bitcoin and ETH operators will continue to bet on the bullish. This is expressed in the strengths that both assets have presented recently. At the time of writing, Bitcoin’s price is $19,280.

A remarkable fact is that Bitcoin option traders are „unflappable“. The proximity of the price of the pioneer cryptomone to $20,000, after which it would enter unknown territory, doesn’t seem to affect the nerves of what this psychological barrier might represent.

On the other hand, ETH’s optimism is mainly due to the fact that the network is approaching its expected 2.0 update. According to the mentioned analysis, this optimism is reflected in a very marked way in the options market.

Tom Fitzpatrick: Bitcoin will pass the $300.00

Strongly bullish futures contracts

In relation to futures contracts, Bitcoin and ETH operators remain strongly bullish. In that sense, as far as ETH is concerned, the futures base is at 10% and 20%.

To have an idea of the optimism that this reflects, it should be pointed out that a typical bullish market is between 5% and 10%. All of this indicates that this asset has a bullish charge that is not far behind when compared to that shown by Bitcoin traders.

As far as the futures premium of the cryptomone created by Satoshi Nakamoto is concerned, the behavior is similar to Ethereum, i.e. 10%. The reason for Bitcoin traders to pay such a high premium for futures contracts is one: optimism in the strength of this currency to continue rising. „This indicator, in turn, can be interpreted as a tax on leveraged long positions,“ confirms the work cited.
According to analysts, ETH and Bitcoin traders, for now, do not show signs of wanting to open bearish positions. Source: CoinTelegraph According to analysts, ETH and Bitcoin traders, for now, don’t show signs of wanting to open bearish positions. Source: CoinTelegraph CoinTelegraph

Bitcoin Futures Market Rising

Bearish options are not in sight

As far as bearish operations are concerned, traders‘ intentions are almost nil. Thus, neither ETH nor Bitcoin traders see a possible downward trend in these cryptosystems.

The charts show that the Ethereum futures base, was presented with an outstanding optimistic sentiment last Saturday. The same, according to analysts, is „unusual“ in the operators of contracts with this cryptomone. In other words, this suggests that traders are not willing to sell.

Bitcoin’s negative performance before today, on the other hand, may have been an indication that its traders were willing to sell. However, that hasn’t been the case. Despite being at a standstill since Saturday, the price of this crypto currency, this Tuesday, reached $19,500 USD.

Data to take into consideration

According to the graphics, in the future contracts, ETH’s performance has been on par with Bitcoin’s.
Even, until last Saturday, Ethereum’s performance was 20% higher than that of the pioneer cryptomone.
On the other hand, the bullish sentiment of Bitcoin’s operators, remains unshaken in its optimism.
Both assets are in a bullish stage, which makes traders refuse to open up downside trades.