1232 days ago
A Bitcoin bubble without the media hype
A different variation the chart we showed before of price vs. Google searches. This is Bitcoin price vs. mentions in the media. Suggests price could get an extra boost if/when hype kicks in.
1232 days ago
Sources of total returns saw a big shift last week (FANG -> Crypto)
One of the worst performers has been tech with the US NYFANG index -3.8% since the vaccine news.... One of the oddities has been the dramatic divergence between Gold (-3.6%) and Silver (-4.4%) on the one hand and Bitcoin (+13.4%) on the other. - Deutsche Bank's Jim Reid
1233 days ago
Bitcoin is acting crazy again.
Source: Refinitiv.
1234 days ago
Bitcoin (BTC): $1 trillion market cap baby?
Bitcoin saw lower levels over the weekend, briefly dipping to $15,800 before rising on Monday to see highs of $16,400 by the end of the day. At the time of our writing, it is flirting with the $17,000 level. In a tweet on Monday, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, delivered a fresh bullish forecast for the largest cryptocurrency: “$20,000 Bitcoin is primary hurdle toward $1 Trillion Market Cap — The digital version of gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021,” McGlone wrote. An accompanying chart described a $1 trillion market capitalization as the “next big resistance” for Bitcoin (see below). McGlone is known for his increasingly positive Bitcoin outlooks. As Cointelegraph reported, he argued in September that Bitcoin should, in fact, trade at $15,000 based on active addresses, something which soon became reality - source: Bloomberg, www.zerohedge.com
1234 days ago
A senior Citi executive predicts Bitcoin will trade above $300k by the end of 2021
A senior Citi executive predicts Bitcoin may reach the six-figure price mark in 2021. Bitcoin's rise has been similar to gold in the 1970s, the executive said. The rise of state-backed digital currencies also shows a changing regime, one that supports the growth of Bitcoin, he added. Tom Fitzpatrick, a managing director at Citi, has predicted Bitcoin’s price may reach over $318,000 in 2021 as per a note to institutional clients last week. He called the move amidst an uncertain macro environment and its similarities to the gold market of the 1970s (source: www.zerohedge.com )
