Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Bank of America – It Costs Only $93mln to Create 1% Price Movement in Bitcoin

Bank of America – It Costs Only $93mln to Create 1% Price Movement in Bitcoin

Kelly Cromley by Kelly Cromley
Mar 19, 2021
in Bitcoin News, Market News, News
Reading Time: 3 mins read
0

Bank of America has published a research report cynical of Bitcoin’s network, claiming that it requires only $93 million to make Bitcoin fluctuate by 1%. The research note prepared by the bank’s analyst Francisco Blanch stated that “Bitcoin is extremely sensitive to increased dollar demand.” Other analysts who have contributed to the note are Philip Middleton and Savita Subramanian.

The research report has assessed that it would require a minimum of $2 billion worth inflows to push the price of gold by 1%, while over $2.25 billion would be required to create a similar price effect on 20-year plus treasury bonds.

The report concluded, stating:

“We estimate a net inflow into Bitcoin of just $93 million would result in price appreciation of 1%. What has created the enormous upside pressure on Bitcoin prices in recent years and, particularly, in 2020? The simple answer: modest capital inflows.”

While Bitcoin’s almost $1.10 trillion market cap is only about 10% of gold, the numero uno crypto is twice volatile as the yellow metal per-dollar in-flows in spite of the asset being in existence for almost twelve years. The Bank of America’s argument stems from the fact that whales have accumulated in huge quantities causing liquidity issues on cryptocurrency exchanges. The document read “Looking at detailed blockchain records, we find that the largest addresses have not been selling in aggregate since the pandemic began.”

Bank of America’s emphasis seems to be broadly in accordance with studies made by cryptocurrency analytics firm Glassnode, which assessed that 78% of Bitcoin’s prevailing supply is illiquid as of December 2020, allowing only 20% of circulating supply for trading on cryptocurrency exchanges.

With the count of new firms that are active on Bitcoin network surging to extraordinary levels, a growing number of investors are contesting for a declining pool of Bitcoin, causing sharp price rallies without much resistance.

The number of new participants in the #Bitcoin network is unprecedented.

Over the past weeks, we have seen a large growth of new entities. This is a strong indication that new retail investors have been entering the space.

Chart: https://t.co/3w1LwtUFZV pic.twitter.com/MXNXwimnfZ

— glassnode (@glassnode) March 15, 2021


Earlier in March, Glassnode had assessed that 95% of Bitcoin was transacted on-chain in the past three months, additionally proving that whales are transferring their cryptos with a plan to hold on for a long-term. Glassnode founders “Jan & Yann,” tweeted:

Despite recent volatility, #Bitcoin supply is still drying up at astonishing rates for this time around in the cycle. https://t.co/yslda1jUha pic.twitter.com/y1SInrBjEF

— Jan & Yann (@Negentropic_) March 16, 2021


In spite of Bank of America’s assessment backing Glassnode’s Bitcoin bull rally, the document echoed a negative view of Bitcoin as a whole. The report snubbed the cryptocurrency for its volatility and allegedly “impractical” mode of payment.

Previous Post

Lindsay Lohan to Unveil Unique NFT Collectibles on TRON Blockchain

Next Post

Deutsche Bank – Bitcoin’s Market Cap of $1trillion Makes it Impossible to Ignore

Related Posts

d3serve-labs-blockchain-model-domain-transfers

D3Serve Labs Proposes Blockchain Model for Domain Transfers

by Kelly Cromley
Jun 15, 2025
0

D3Serve Labs, operating independently from D3 Global Inc., has submitted a new patent application to the United States Patent and...

figure’s-$355m-blockchain-securitization-earns-s&p-ratings

Figure’s $355M Blockchain Securitization Earns S&P Ratings

by Kelly Cromley
Jun 15, 2025
0

Figure Technology Solutions has announced the successful securitization of $355 million in mortgage assets through its latest transaction, designated FIGRE...

daiko’s-virtual-pet-blends-real-dog-care-with-gamified-tech

Daiko’s Virtual Pet Blends Real Dog Care with Gamified Tech

by Kelly Cromley
Jun 15, 2025
0

Daiko, an Ireland-based technology company, has revealed plans to introduce a blockchain-powered Virtual Pet game that aims to bridge the...

Emerging Cryptocurrency Shakes Up Industry as Potential Alternative to Bitcoin: ‘True Innovation’

Emerging Cryptocurrency Shakes Up Industry as Potential Alternative to Bitcoin: ‘True Innovation’

by Mostafijur Rahman
Jun 14, 2025
0

A rising cryptocurrency project is turning heads across the blockchain industry, positioning itself as a credible alternative to Bitcoin—and it’s...

tass-hub-ziggy-zeigler-web3-partnership

TASS HUB and Ziggy Zeigler Team Up to Empower Web3 Creators

by Kelly Cromley
Jun 14, 2025
0

TASS HUB, a decentralized Web3 content marketplace built on the Solana blockchain, has announced an exclusive long-term collaboration with Ziggy...

peaq-partners-abu-dhabi-dubai-for-machine-defi

peaq Joins Forces with Abu Dhabi and Dubai to Pioneer “Machine DeFi”

by Kelly Cromley
Jun 14, 2025
0

Abu Dhabi and Dubai have revealed an ambitious plan to establish what is being described as the world’s first fully...

Next Post
Deutsche Bank – Bitcoin’s Market Cap of $1trillion Makes it Impossible to Ignore

Deutsche Bank – Bitcoin’s Market Cap of $1trillion Makes it Impossible to Ignore

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

d3serve-labs-blockchain-model-domain-transfers
Market News

D3Serve Labs Proposes Blockchain Model for Domain Transfers

by Kelly Cromley
Jun 15, 2025
figure’s-$355m-blockchain-securitization-earns-s&p-ratings
Market News

Figure’s $355M Blockchain Securitization Earns S&P Ratings

by Kelly Cromley
Jun 15, 2025
daiko’s-virtual-pet-blends-real-dog-care-with-gamified-tech
Market News

Daiko’s Virtual Pet Blends Real Dog Care with Gamified Tech

by Kelly Cromley
Jun 15, 2025
tass-hub-ziggy-zeigler-web3-partnership
Market News

TASS HUB and Ziggy Zeigler Team Up to Empower Web3 Creators

by Kelly Cromley
Jun 14, 2025
peaq-partners-abu-dhabi-dubai-for-machine-defi
Market News

peaq Joins Forces with Abu Dhabi and Dubai to Pioneer “Machine DeFi”

by Kelly Cromley
Jun 14, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree