Speculation Makes Mark on Choppy Market Action Bitcoin shines and cannabis lights up with activity. Stocks quotes in this article: GBTC
It was a choppy day of action, but stocks held up well as they digested the last Fed interest rate policy. The market has become rather unconcerned about the Fed recently, as Chairman Jerome Powell has made it very clear that it will stay accommodative and will likely keep interest rates low for years. The Fed has unlimited buying power and the market has a constant bid for that reason.
The indexes finished the day mixed on even breadth, but what was most notable was that over 800 stocks were hitting new 12-month highs. The pockets of momentum continue and quite a few stocks moved up more than 20%. Bitcoin as seen with Grayscale Bitcoin Trust (GBTC) helped to fan the flames of speculation with a big move. Groups like cannabis continued to attract interest.
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By Lee Kyung-min
Bitcoin is back in spotlight as it has continued an upward spiral amid lingering uncertainty caused by the fallout of the COVID-19 pandemic, sparking debate over the future course of the digital currency.
Opinion is split over whether bitcoin could replace gold as a safe haven asset.
Some say this is possible since the gold price has peaked and bitcoin is increasingly being embraced by institutional investors who tend to seek stability over short-term profit.
Others say this claim lacks merit because the speculative asset with high price volatility has a variety of operational risks.
Bitcoin has fallen precipitously in the past few days and is hovering at around $18,000 (19.6 million won) after hitting an all-time high of $19,462.14, Dec.3 (local time). During 2020 the value of the cryptocurrency has risen about 170 percent.
RG Alts Launches First Tactical Gold & Bitcoin Mutual Fund
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DALLAS, Dec. 15, 2020 /PRNewswire/ Ranger Capital, in partnership with IDX Insights, announces the launch of the RG Aurum+ fund (GLDPX) which became effective September 8th. GLDPX seeks to provide risk-managed exposure to precious metals and crypto currency via the Grayscale Bitcoin Trust (GBTC). The fund is designed to provide a risk-conscious option for investors interested in exposure to alternative fiat asset classes like gold and crypto currencies. The fund may be a first of its kind in the fact that it will provide tactical exposure to bitcoin through the Grayscale Bitcoin Trust (GBTC).
JPMorgan-Analysten gehen von starkem Börsenjahr 2021 aus msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.