3 Bullish Bitcoin News From the Past Couple of Days

By Andy Little on ALTCOIN MAGAZINE

Over the past months, there has been an array of news coming forward for the crypto space but some of the biggest stories recently that could have helped push bitcoin forward are.

Fidelity

Fidelity will offer the full-scale rollout of trading on the top crypto assets including, Bitcoin, Ethereum, Litecoin, and XRP.

These rumors were confirmed by Arlene Roberts who is close to fidelity crypto service last week she was reported saying to Bloomberg:

“We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”

Fidelity has over $7 trillion worth of assets under its management and the company plans to be a powerhouse in the crypto space. In early 2019 the investment giant launched its custody service and went on a hiring spree and even hired the head of digital assets project from rival investment bank Barclays.

There is also a theory that investors are now buying into Bitcoin before the announcement from Fidelity to accumulate Bitcoin cheaper before the assumed huge spike on the news.

Square

Payment processing app Square Cash, which rolled out Bitcoin buying to their app at the end of 2017 is now responsible for buying up to 10% of the current BTC mined each day.

The growth trajectory of the company’s Bitcoin sales could bring the app’s impact on the BTC supply to new heights, responsible for users buying double the daily supply mined of Bitcoin by the next halving, or 200%.

If Square Cash follows its current trends they are buying a huge amount of the daily Bitcoin effectively taking the numbers off the entering the market daily.

Supply and demand

The volume over the past month has dwarfed that of the market back in 2017 when we saw bitcoin hit the amazing sum of $20,000 off the back of everyday people and smart investors.

But since the dizzying heights, there have been many reports of how much Bitcoin has been lost over the past 10 years with a recorded 3/4 million Bitcoin being lost forever.

Volume recorded in May

Now imagine the investment firms and retirement funds buying into the market, Supply and demand will become a huge problem and Bitcoin will hit new highs we never thought where possible.

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The news I’ve selected above are just snippets of what has been happening over the past couple of days that could have had an effect on the surge of Bitcoin. You should check out the trending articles on google and come to your own conclusion.

Happy HODLING.