NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Here’s Why Bitcoin Price is Looking at an Eye-Popping Bull Run

Davit Babayan
Davit Babayan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hackers stole $40 million worth of bitcoin from one of the largest cryptocurrency exchanges; the New York Attorney General sued a bitcoin exchange for allegedly hiding its insolvency; the Chinese government hinted that it would ban bitcoin mining operations. But none of these adverse events could stop the cryptocurrency from rising above $6,000.

The BTC/USD instrument on Thursday reached its 2019 high towards $6,096, its highest in 2019. The price action helped the pair reclaim a psychological target at $6,000 which had a strong probability of deflecting the bitcoin uptrend. But with the level now broken to the upside, the bitcoin market proved that it was resilient to adverse events taking place around it. Instead, it was focusing on long-term bull factors, such as the one aroused by Fidelity Investments.

The Fidelity Factor Pumped Bitcoin

The Boston-based asset management firm, which is famous among its peers at Wall Street, announced that it would buy and sell bitcoin for its clients within a few weeks. The announcement went to the wire on May 6, the day when the bitcoin price was going through a minor downside correction upon a reversal action from $5,846, a session high established two-days earlier. The news of Binance losing about $40 million worth of Bitcoin in a hack went live on March 7. Nevertheless, the bitcoin price reacted more to the positive aspect of the day and rose as much as 4.98-percent on Coinbase.

bitcoin
Bitcoin Price Surged Despite Binance Hack Event | Source: TradingView.com

The bitcoin market thereafter formed two more green candles on the daily timeframe to gain 6.45 percent, indicating that traders were willing to buy the cryptocurrency on new higher highs. And once the candle grew above $6,000, the market confirmed its strongest bullish bias since December 2017.

Holders Rising

Fidelity’s announcement opened a strong Wall Street perspective for bitcoin. The big institutions so far kept their distance from the cryptocurrency industry, citing lack of regulatory oversights, volatility, and security as main issues. Fidelity itself entered the bitcoin space as a custodian, the one that would safeguard the cryptocurrency for investors. But the company stayed on the sidelines as far as trading bitcoin was concerned.

Their decision to buy and sell bitcoin for only-institutional-not-retail clients hinted that big investors were confident in putting large capital into the cryptocurrency market. That certainly could have kept the retail investors away from any kind of panic-sell sentiment. Besides, a $40 million hack – which may or may not turn into a sell-order – was still small in comparison to a $107 billion bitcoin market.

“Fidelity will begin helping institutional clients buy and sell Bitcoin in the coming weeks,” said Anthony Pompliano, the co-founder of Morgan Creek Capital. “Eventually, every financial services company will do this. If Bitcoin achieved $100+ billion market cap without institutional interest, imagine what happens when the smart money joins.”

Fidelity will begin helping institutional clients buy and sell Bitcoin in the coming weeks.

Eventually every financial services company will do this.

If Bitcoin achieved $100+ billion market cap without institutional interest, imagine what happens when the smart money joins.

— Pomp 🌪 (@APompliano) May 6, 2019

Tweet123Share390ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP Price Pops and Drops

XRP Price Pops and Drops — Can Bulls Regain Control?

XRP price started a strong upward move above the $2.250 zone and tested $2.35. The price is now correcting gains...

Aayush Jindal 2 hours ago
Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin has continued to trade within a tight range just below its previous all-time high, showing recent signs of upward...

Samuel Edyme 2 hours ago
Ethereum Price Hits Support

Ethereum Price Hits Support – Can It Launch a Fresh Move Higher?

Ethereum price started a fresh increase above the $2,520 zone. ETH is now correcting some gains and might aim for...

Aayush Jindal 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

Mark Mak 57 minutes ago
Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

Keshav Verma 1 hour ago
BNB Price Gears Up for Upside Break

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • SWL Miner launches the best free cloud mining for BTC...

    23 minutes ago
  • Criptomoneda alternativă în trend față de Dogecoin (DOGE) care poate transforma 3.200 RON în 320.000 RON în 4 luni

    Criptomoneda alternativă în trend față de Dogecoin...

    44 minutes ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    9 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    10 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.