(Reuters Breakingviews) - Bitcoin is an economics lesson masquerading as an asset. The value of the cryptocurrency took over a decade to top $20,000, yet it then eclipsed $30,000 roughly two weeks later in the early days of 2021. It's a textbook case of speculative demand meeting scarce supply.
Bitcoin soars to over $35,000 for first time
Crypto at a Glance
If you thought the dip at the beginning of this week spelled the end of the bull market, you, my friends, were very much mistaken. This morning saw Bitcoin storm back to
another new all-time high of over $35,000, charging through resistance like tanks through milk. This puts Bitcoin among the top 10 assets by market capitalization, above the likes of Alibaba and Samsung. Tesla – you’re next.
Bitcoin wasn’t the only one tearing it up, though. Ether is still going strong, coasting just above the $1,100 mark. It seems like there’s opportunities everywhere at the moment. Cardano this morning flipped Polkadot, having leapt up by more than 50% over the past week. UniSwap is also up more than 60% over the past week, while Algorand is up by more than 40%. It might be ‘lockdown’ in society, but crypto is very much open for business. Enjoy the ride. Enjoy it carefully, that is – still make g
The Evolution of Bitcoin Is One of My Top Picks for 2021 What needs to be recognized at this point is that there is growing institutional support for bitcoin. Stocks quotes in this article: GBTC
One of the most interesting debates in the financial industry is over cryptocurrencies and bitcoin in particular.
One group of investors dismisses bitcoin as devoid of both utility and intrinsic value. However, there is growing acceptance of bitcoin with some institutional investors, which has helped to trigger a frenzy of buying in recent weeks, resulting in bitcoin more than doubling.
Investors can own bitcoin indirectly through the Grayscale Bitcoin Trust (GBTC) , which is a closed-end fund that passively invests in bitcoin. GBTC trades with a premium and can t be traded 24 hours a day like the actual cryptocurrency, however, it allows exposure that is well correlated with the movement of bitcoin.
The Price Of Bitcoin Is Truly A Mysteryâ¦
â¦in more ways than one.
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CoinDesk, one of the largest digital media outlets focused on cryptocurrency, announced yesterday a deal to acquire TradeBlock, a bitcoin-focused subscription data company.
The Building Blocks of Bitcoin
TradeBlock s most notable product, the XBX Index, addresses a fundamental and underappreciated reality of bitcoin: knowing its true price at any given time is a bit of a mystery.
Unlike equities which trade on centralized exchanges (like the New York Stock Exchange), bitcoin and its crypto brethren are traded on hundreds of digital exchanges around the world.
Will Bitcoin Become the New Gold Standard?
On 1/6/21 at 12:01 PM EST
And in the long run, it might be more valuable.
No less an expert than JPMorgan Chase & Co. said that Bitcoin could trade as high as $146,000 if it is viewed as a safe haven rivaling gold. Growing interest in Bitcoin sent its price to a record high of $34,800 on Jan. 2. The cryptocurrency recently changed hands at $34,675.20. Gold recently fetched $1,939 an ounce, down $11.50.
Cryptocurrency enthusiasts have argued that bitcoin, an asset defined as highly volatile, should be considered a safe heaven.
Shutterstock Bitcoin s competition with gold has already started in our mind, as evidenced by the more than $3 billion of inflows into the Grayscale Bitcoin Trust and the more than $7 billion of outflows from gold (exchange traded funds) since mid-October, JPMorgan said in a research report.