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"Several on-chain and network indicators have reflected a bullish skew over the week [for Birtcoin], albeit most being relatively neutral for the short and medium-term," Lennard Neo, a certified financial analyst and head of research at Stack Funds in Singapore, said in a research report. By
Bitcoin Goes from 'Trendy to Tacky' in Just Three Months, Analyst Says On 5/20/21 at 1:59 PM EDT The late mogul's insight into the rag trade may also apply to Bitcoin. "It took Bitcoin a mere three months to go from trendy to tacky," said economist Dr. Marion Laboure, a researcher at Deutsche Bank. Deustche Bank "Just as a 'fashion faux pas' can happen suddenly, we just received the proof that digital currencies can also quickly become passé," Dr. Marion Laboure, an analyst at Deutsche Bank in London, said in a research report. "It took Bitcoin a mere three months to go from trendy to tacky....
Bitcoin Plummets as Elon Musk Reverses Course on Accepting the Crypto at Tesla On 5/13/21 at 3:59 PM EDT Elon Musk's decision to no longer accept Bitcoin to purchase Tesla's electric cars slashed billions from the cryptocurrency's valuation, but won't kill investor interest in the sector, analysts believe. Bitcoin, the world's leading cryptocurrency, fell to $46,294.72 Thursday after Musk's tweet—28.59% below its record high of $64,829.14. It has since recovered about $4,000, but still remained down for the day. Elon Musk said Tesla won't accept Bitcoin due to environmental concerns. In thi...
Crypto Investors Turn to Ethereum as Alternative to Bitcoin On 5/10/21 at 2:18 PM EDT Ethereum, the world's second largest cryptocurrency, soared to a record high Monday as investors placed their bets on the coin's future in commerce and looked for an alternative to Bitcoin's lofty valuation. In mid-day trading Monday, Ethereum fetched $4,148.44, just off the record high of $4,172.10 It's up 7.06% in the last 24 hours and 449.81% this year. The market cap is $480.72 billion, CoinDesk reported. Elon Musk, CEO of Tesla, speaking at a satellite conference in March 2020. Tesla announced in an SEC...
Surging Bitcoin Boosts Profits in Jack Dorsey's Square On 5/7/21 at 2:30 PM EDT Jack Dorsey, co-founder and CEO of Twitter and electronic payments firm Square, makes good Yankee dollars on Bitcoin. Surging demand for the cryptocurrency drove Square's first quarter profit to 41 cents a share, exceeding Wall Street's consensus estimate of 16 cents by about 156%. Square's Cash App allows customers to purchase the cryptocurrency. The company's Bitcoin revenue rose 1,047% and at $3.5 billion represented about 69% of the company's first quarter receipts. Dorsey speaking at the Energy and Commerce C...