Bitcoin has been trading like equities for months, rather than the hedge against that uncertainty so many crypto enthusiasts believe it is. Source link
Big investors bought up bitcoin as hoped and in the process ruined its usefulness as a hedge
Category: Bitcoin
‘Take a chill pill, stay long’ — Anthony Scaramucci says bitcoin’s recent plunge won’t last
Buyers should cool off on cryptocurrency concerns and make some long-term investments instead, SkyBridge Capital’s Anthony Scaramucci told CNBC on Tuesday. Some people think bitcoin is “rat poison,” as billionaire investor Warren Buffett once described it; others think it’s the worst thing to ever happen to civilization, Scaramucci said in a “Squawk Box” interview. “Everyone is a long-term investor until you have short-term losses, and then you start freaking out.” “Take a chill pill, stay long bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’re going to be…
Bitcoin bounces after brief dip below $33,000, but analysts still expect deeper losses
Bitcoin bounced modestly on Monday after briefly falling below $33,000, but it hasn't hit the bottom yet, some analysts say. Source link
MicroStrategy shares drop on bitcoin’s slide, SEC rejection of company’s crypto accounting
MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images Shares of MicroStrategy tumbled 17.8% Friday afternoon after the U.S. Securities and Exchange Commission reportedly rejected the company’s bitcoin accounting strategy. The business-intelligence software company’s stock had been falling in tandem with the price of bitcoin, which dropped more than 10% Friday to its lowest point since August. MicroStrategy shares are down 24.7% for the week. A…
With rising rates and inflation, investors are split on how to value bitcoin. Here’s why
Bitcoin's correlation with equities reached its highest level in 17 months, but long-term investors are still bullish. Source link
Bill Miller's personal portfolio had a banner year thanks to bitcoin, but his fund struggled
Bill Miller's flagship mutual fund completely missed the mark last year, as his new stock picks flopped. Source link
Here’s Why Bitcoin Could Correct To $6.5K Before A Fresh Rally
Bitcoin surged above the $7,000 resistance and reached the $7,200 bullish target against the US Dollar. BTC price is currently correcting lower and it could test the $6,500 support area. Bitcoin rallied significantly above the $6,800 and $7,000 resistance levels against the US Dollar. The price tested the $7,200 target (as discussed yesterday) before correcting lower. There is a key bullish trend line forming with support near $6,715 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower towards the $6,500 support before…
Three Catalysts that Could Send Bitcoin Price Higher in February
It is February 1 and bitcoin is up by a modest 0.52 percent. The benchmark cryptocurrency left an impressive month behind in January, returning 30.27 percent in profits against an otherwise gloomy global market outlook. The wild move upside marked bitcoin’s best January close in seven years, convincing traders that the gains could grow further heading into February. Bitcoin maintaining gains to open February in a green territory | Source: Yahoo Finance So it appears, bitcoin’s bullish continuation theory – actually – has merits in the form of both fundamental…
Litecoin Hits 17-Week High and It Could Be Bullish for Bitcoin
Litecoin was trending higher on Saturday against an otherwise bearish intraday narrative in the overall cryptocurrency market. The seventh-largest crypto by market cap closed above its seven-week high to hit $72.72. The strong move upward brought Litecoin’s intraday rise to more than 6 percent. At the same time, its gains this week notched up to 36.25 percent (data from BitStamp). Litecoin rate continues to climb despite corrective macro sentiment | Source: TradingView.com, BitStamp Nothing Pumped Litecoin Elsewhere in the cryptocurrency market, coins underwent a mild corrective action. Top assets, including…
Simple Textbook Analysis Show XRP Price Could Rally 100% Against Bitcoin
There’s no doubt XRP saw poor performance in 2019. During that year, the price of the asset against the U.S. dollar fell by 50%, managing to underperform a swath of traditional asset classes, from stocks and bonds to precious metals and commodities. Because Bitcoin saw a strong 2019, rallying by over 90%, the XRP/BTC pair fell dramatically, even more so than the altcoin’s pair against the dollar and other fiat currencies. One XRP, in fact, is now valued at under 3,000 satoshis — far below all-time highs. But, a number…