Category: Bitcoin

The charts indicate it’s time to bet on bitcoin and short gold, says Todd Gordon

boss

There has been much debate about who will be crowned the ultimate global store of value, gold or bitcoin. Based on the most recent technical development of the bitcoin-to-gold ratio chart, the market is voting on bitcoin. We are currently hold long positions in bitcoin and short positions in gold based on this analysis that I’ll attempt to explain as clearly and quickly as possible: Looking at the weekly ratio chart of bitcoin-to-gold you’ll notice that the highlighted triple-top resistance (ceiling) level from 2021 has been penetrated. This indicates that…

More stocks that are adopting MicroStrategy’s bitcoin yield strategy

boss

More and more bitcoin miners are starting to undertake a strategy harnessed by MicroStrategy , according to JPMorgan. MicroStrategy shares have been one of the hottest trades of the year as cryptocurrencies rallied to new highs and the victory of President-elect Donald Trump set off another wind as investors bet the new administration would adopt a more favorable stance toward digital assets. MSTR YTD mountain Shares this year The Michael Saylor-run software company has been widely known for snatching up the digital currency in recent years, with shares up more…

ETFs holding bitcoin are now the crypto’s largest holders, surpassing creator Satoshi Nakamoto

boss

Bitcoin exchange traded funds are now the largest holders of the flagship cryptocurrency. The 12 spot bitcoin ETFs in existence have collectively passed $100 billion in assets under management, one of the most successful ETF launches in history. The funds now own slightly more than 1.1 million bitcoin , equivalent to about 5% of all the bitcoin in existence. BTC.CM= YTD mountain Bitcoin in 2024 Collectively, bitcoin ETFs now own more of the cryptocurrency than legendary pseudonymous founder Satoshi Nakamoto, who is believed to control as much as 1.1 million…

A hedge for bitcoin if it pulls back after hitting the $100,000 milestone

boss

Bitcoin has been surging all year in 2024 but this week investors have seen “digital gold” vault above the monumental level of $100,000 . President-elect Donald Trump has presented crypto-friendly expectations, and he also has revealed political changes at the SEC that further fueled the rally, pushing the digital coin to up 140% in 2024. I want to book profits and hedge out potential downside risk if investors take a bitcoin breather over the holidays. The first bitcoin ETF launched in early January of this year, the iShares Bitcoin Trust…

Bitcoin hit $100,000. Here’s what it means if it’s in your portfolio

boss

Bitcoin finally reached $100,000 and investors holding the cryptocurrency in their portfolios have a few moves they’ll need to make before they celebrate. The flagship crypto crossed the $100,000 threshold for the first time late Wednesday, a fresh milestone in its 2024 hot streak. This year alone, bitcoin has more than doubled in value. BTC.CM= YTD mountain Bitcoin’s performance in 2024 “It is a big moment for a lot of people,” said Tyrone Ross, CEO of Turnqey Labs, a platform that provides data aggregation for reporting on crypto assets. “There…

What’s next for bitcoin after topping $100,000, according to the charts

boss

Bitcoin has finally reached the “the big round number.” After consolidating just below this level in recent weeks, bitcoin has now broken out to another new all-time high above $100,000, leaving investors to consider exactly how much upside we should expect. First, we’ll look at how we got to this point from a technical perspective. Then, we’ll break down two different approaches to identifying the next potential top for the flagship cryptocurrency. Over the past two years, we’ve noted a number of times where bitcoin has experienced such a strong…

These are the stocks with the highest correlation to bitcoin as the digital currency tops $100,000

boss

With bitcoin notching fresh highs, some closely correlated stocks look poised to gain — or suffer — depending on where the digital currency goes from here. Bitcoin crossed above the $100,000 mark for the first time late Wednesday, building on the rally that kicked off in the wake of President-elect Donald’s Trumps victory, which boosted hopes for more favorable cryptocurrency policy. The cryptocurrency was last up about 2% at $101,201. BTC.CM= 1D mountain Bitcoin tops $100,000 mark Trump on Wednesday also announced plans to nominate Paul Atkins to succeed Gary…

The road to $100,000 — What’s behind bitcoin’s storied 2024 run

boss

A novelty Bitcoin token arranged in front of the price of the cryptocurrency against the US dollar, reaching over $100,000, in Hong Kong, China, on Thursday, Dec. 5, 2024.  Paul Yeung | Bloomberg | Getty Images Bitcoin‘s long-awaited push above $100,000 comes during the culmination of a year in which the leading cryptocurrency was embraced by key Wall Street institutions and became a hot topic in the U.S. presidential election. For years, bitcoin bulls predicted a rally to $100,000 as a way to show their optimism about crypto. But many…

What Fed’s Powell said about crypto that may have aided bitcoin rally to $100,000

boss

Jerome Powell, chairman of the US Federal Reserve, during the New York Times DealBook Summit at Jazz at Lincoln Center in New York, US, on Wednesday, Dec. 4, 2024.  Yuki Iwamura | Bloomberg | Getty Images Bitcoin’s meteoric run may have gotten a little extra push from an unlikely source: Federal Reserve Chair Jerome Powell. In comments Wednesday about the cryptocurrency, the central bank leader noted that he does not and cannot own any himself. In addition, he said the Fed’s role in regulating bitcoin and its competitors is limited.…

Bitcoin to replace gold over next decade, says Bernstein

boss

Bernstein thinks bitcoin could eventually replace the role of gold. “We expect Bitcoin to emerge as the new-age premier ‘store of value’ asset eventually replacing Gold over the next decade, and becoming a permanent part of institutional multi-asset allocation and a standard for corporate treasury management,” analyst Gautam Chhugani wrote in a note Thursday. The comments come after bitcoin hit $100,000 for the first time, adding to its monster 2024 gains. Year to date, the digital currency is up 141%. A chunk of those gains have come since the Nov.…