Bitcoin has had a strong run, but what’s its value? (Photo by Jaap Arriens/NurPhoto via Getty … [+] Images) NurPhoto via Getty Images Bitcoin has seen a great run, both in recent months and over broader history. Yes, it roughly tripled in 2020, but let’s not forget it’s also up around 30-times over the past 5 years. Focus on medium-term price swings, which are undoubtedly extreme, should not obscure that Bitcoin has been one of the great assets to own… Source link

Cryptocurrency market is once again heading north as the US Dollar Index plummets. The US Dollar index lost 0.32% today and nears the lowest level of last year’s December 31. By the time writing of this article the US Dollar index is at 89.568. As markets opened on January 4, there was a huge sell-off at the cryptocurrency market mainly caused by the hike of the S&P Volatility Index, panic in the market caused a drastic drop in prices of some cryptocurrencies, yet most of altcoins such as… Source link

getty Just now I sold all my bitcoin (BTC) and ether (ETH), bar some bits and bobs to play in the DeFi pool while I collect my wits. It has been a wild ride. The weekend was crazy, in a good way, and as someone who collected most of their crypto sub-$10,000 both highly profitable and extremely stressful. Don’t believe for one minute I’m a cool cucumber that can see huge sums flicker past without the merest flutter of an eyebrow. I would not a great poker player… Source link

Some of the market’s altcoins like Monero and Dash failed to recoup their losses after Bittrex’s delisting announcement last week. However, XMR and DASH weren’t the only ones as Ethereum Classic too projected a southbound move as the market bears sought control of the prices. Monero [XMR] Source: XMR/USD, TradingView Monero seemed to be reeling from Bittrex’s delisting announcement at press time, as the privacy coin was unable to recover from the losses incurred at the start of the… Source link

After Bitcoin retraced some of its gains over the last 24 hours, altcoins like BAT and Zcash followed suit and suspended their own northbound movement, entering a consolidation phase on the price charts. Finally, Litecoin was projected to move slightly lower on the charts too. Litecoin [LTC] Source: LTC/USD, TradingView Litecoin picked up steadily on the charts at the start of the year, with its movement backed by Bitcoin’s own surge. In fact, for a brief while, LTC even toppled XRP’s… Source link

Bitcoin has the potential to reach $146,000 in the long term as it competes with gold as an asset class, according to JPMorgan Chase & Co. Bitcoin’s market capitalization of around $575 billion would have to rise by 4.6 times — for a theoretical price of $146,000 — to match the total private sector investment in gold via exchange-traded funds or bars… Source link

Drew Angerer/Getty Images Bitcoin could stage a monster rally in 2021 and reach $100,000, but pricing at that level “would prove unsustainable,” JPMorgan said in a note on Monday. “We believe that the valuation and position backdrop has become a lot more challenging for bitcoin at the beginning of the New Year,” JPMorgan said. At its market cap of $575 billion, bitcoin would have to surge to $146,000 to match the total private-sector investment in gold via exchange-traded funds or… Source link

Ethereum Ethereum rose by 6.32% on Monday. Following on from Sunday’s 26.46% surge, Ethereum ended the day at $1,042.38. Another mixed start to the day saw Ethereum rally to a mid-morning intraday high and a new swing high $1,168.99. Ethereum broke through the first major resistance level at $1,073.72 before hitting reverse. Coming up against the second major resistance level at $1,167.00, Ethereum slid to a late morning intraday low $886.33. Steering clear of the first major support level at… Source link

Bitcoin prices recovered today, climbing back after their latest retracement. (Photo by Jordan … [+] Mansfield/Getty Images) Getty Images Bitcoin prices bounced back today, rallying after markets participants responded to the latest pullback. The world’s largest digital currency by market capitalization reached as much as $32,201.74, CoinDesk figures show. At this point, it had climbed roughly 14.4% from the recent low of $28,154.11 it hit close to… Source link

On Jan. 4, Ether (ETH) price rallied to $1,160, which was followed by a 24% correction within the following four hours. What is clear is that investors are anxiously awaiting the CME’s ETH futures launch, which is scheduled for Feb. 8. Another factor driving the current rally is that Ether miners’ balances reached a two-year low, a scenario that some analysts view as bullish. The phenomenal growth of total value locked in decentralized finance projects has also played a part, especially… Source link