Tag: Bloomberg

Crypto sentiment falls even as Bloomberg tips Bitcoin will hit $400K

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Analytics company Santiment reports that cryptocurrency sentiment has fallen to near-record low levels for 2021 — even as some experts are doubling down on $400,000 Bitcoin’s price target. Sentiment nosedived following Bitcoin’s drop below $60,000 to its current price of $56,300 and Ethereum’s dip under $2,000 this week, according to Santiment. Ether is currently trading at $1,986 The crowd mood toward #Bitcoin and #Ethereum appears to have dropped to extreme negative territory after $BTC fell back under $60k & $ETH dipped back under $2k this week. Historically, buying during this…

India to propose cryptocurrency ban, source says

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class. #News #Reuters #Bitcoin #Cryto #India Subscribe: Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled. Get the latest news on: Follow Reuters on Facebook: Follow Reuters on Twitter: Follow…

Bitcoin falls below $58K as Bloomberg eyes $80K BTC price in Q2

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Bitcoin (BTC) reversed recent gains to lose 1.5% on April 6 as bulls were kept frustrated with no sign of an attack on all-time highs  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin will “likely” squash $60,000 resistance Cointelegraph Markets Pro and TradingView showed local lows of $57,340 hitting during Tuesday after another failed attempt at tackling $60,000 resistance. Despite being a matter of thousands of dollars away from all-time highs of $61,700, BTC/USD has been unable to drive sellers away for good. While thinning out, the last band of…

Kraken Is Investigating Bitcoin Selloff, CEO Says

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Feb.23 — “It’s hard to speculate about what’s driving the market action,” Kraken Exchange co-founder and CEO Jesse Powell said after the Bitcoin selloff worsened and some in the crypto community looked to a possible flash-crash on the Kraken exchange. “We’re still investigating,” he said on “Bloomberg Surveillance Early Edition.” ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Why is Bloomberg predicting a Bitcoin price at 400K in 2021?

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Bitcoin has picked up its bullish momentum in the last 24 hours. High levels of Institutional adoption, fundamentals, and on-chain indicators look bullish and point to an extension of the rally, at least, in the long term. In a recent report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, states that Bitcoin is in a “transition phase.” As a result, the benchmark cryptocurrency could move from being a “risk asset” to become a global reserve asset. Comparing the “rhythm” of Bitcoin’s 2017 bull market to the current one, McGlone estimates…

Bitcoin can reach $400K in 2021 as ‘risk-off reserve asset’ — Bloomberg

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Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a “risk-off” choice for investors. In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency. $400,000 BTC would “rhyme” with history McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use. “..Well on its way to becoming a global digital reserve asset, a…

Bloomberg Statistics: Institutions Prefer Bitcoin to Gold ETFs

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There is a sharp uptick in the number of investors opting for Bitcoin over gold, data from Bloomberg Intelligence reveals. Bitcoin replacing the Old Guard A snapshot shared by Mike McGlone, a Senior Commodity Strategist at Bloomberg Intelligence, on Mar 8 points to convincing statistics showing an accelerated influx to Bitcoin in recent month. The Bitcoin to gold ratio is now over one while the total known ETF holding of gold continues to flat-line and droop in recent days. Coinciding with this is the increasing volatility of Bitcoin to gold…

Bitcoin ‘pushing aside’ gold as a store of value — Senior Bloomberg strategist

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A number of indicators suggest that Bitcoin (BTC) is pushing aside gold as the premier safe-haven asset. This could set the stage for wider mainstream adoption of the digital currency, according to Mike McGlone, a senior commodity strategist at Bloomberg. McGlone tweeted Monday that the battle between the safe havens is beginning to favor Bitcoin, based on technical and fundamental indicators. He explained: “Gold will always have a place in jewelry and coin collections, but most indicators point to an accelerating pace of Bitcoin replacing the metal as a store…

Bloomberg Chief Analyst Says Bitcoin Could “March To $100,000” From Here

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Bitcoin is currently struggling to reclaim $50,000, but one chief Bloomberg analyst says that the cryptocurrency could be ready to “march” toward $100,000 per coin in the near term. Here’s the data the senior commodity strategist says backs up the theory for the “nascent” cryptocurrency’s price doubling in short order. Bitcoin Building Foundation At $50,000, According To Bloomberg Analyst Bitcoin has only in the last several months become adopted by institutions as a financial asset of interest, despite the cryptocurrency’s incredible historical ROI. During those months, however, the price per…

Bitcoin Replacing Gold is Happening – Bloomberg Report

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Quick summary: Bitcoin is replacing gold in investment portfolios is accelerating Bitcoin has gained legitimacy with declining volatility and is increasingly becoming a global digital store of value $100k is the logical next threshold for Bitcoin Short-term, Bitcoin could dip to $42kdue to a weakening stock market The team at Bloomberg has released their monthly Bitcoin Outlook report in which they propose that BTC is slowly replacing the precious metal of gold on investment portfolios. Furthermore, Bitcoin has gained a level of legitimacy with a decline in volatility as explained…