Bitcoin

Bitcoin ( BTC -0.30% ) has nearly doubled in value so far in 2021 with just a month to go until the new year. It’s been a wild ride getting there, though. After a big surge last winter, the original cryptocurrency was halved in price over the summer, only to reclaim all-time highs again in the autumn. But with the new omicron coronavirus variant sending investment markets into turmoil again, the arbitrary but long-awaited $100,000 Bitcoin milestone (74% higher than the going price… Source link

Bitcoin (BTC) met the start of U.S. trading with a bang on Dec. 1 as the Wall St. open sparked a run above $58,500.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: $56,000 may have been resistance flip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2% in an hour Wednesday, canceling out the majority of overnight losses. The pair had hit $59,000 the day before in a similarly-timed move before giving up progress to dive to local lows of $56,700… Source link

Recently, the $60,000 resistance level has been a key hurdle for buyers despite oversold readings on the charts. So far, support levels remain intact, which could establish a tight trading range between $55,000-$60,000 into the Asian trading day. BTC was trading around $57,800 at press time. Source link

“As BTC is looking good to close November below the expected target of $60,000, investors are optimistic that the cryptocurrency will repeat its historic trend of ending the year on a stellar bullish note,” Nikita Rudenia, co-founder of asset management firm 8848 Invest, wrote in an email to CoinDesk. Rudenia has a $70,000 BTC price target by the end of this year. Source link

Dressed in pristine white in front of an audience of investors and foreign visitors, El Salvador’s president, Nayib Bukele, recently announced plans to create an oceanside “Bitcoin City” at the base of a volcano. Bukele said his new urban center was inspired by the legendary cities built by Alexander the Great — except El Salvador’s would be fueled by cryptocurrency. “This is not just a nice idea. It’s the evolution of humankind,” Bukele told the audience amid a display of lights,… Source link

Some analysts expect volatility to eventually rise next year, especially as the correlation between bitcoin and the S&P 500 remains elevated. For now, pullbacks in assets deemed to be risky, such as cryptocurrencies and stocks, appear to be limited given strong seasonal trends. Source link

Black Friday came to cryptocurrencies last week when Bitcoin posted its roughest day in two months. But by Monday things were looking up. Bitcoin is staging a comeback along with other riskier assets on Monday, bouncing back from its Black-Friday lows. The largest digital asset rose as much as 3.4% during the session to trade around $58,266. Other coins also posted snap-backs, with the Bloomberg Galaxy Crypto Index adding 5.5% at one point. So-called alternative coins like Polkadot and… Source link

Bitcoin balloon. Andriy Onufriyenko Bitcoin has stumbled in November, falling as much as 12% and reversing October’s strong rally. Bitcoin’s price decline can continue into year-end as crypto positioning remains overbought, JPMorgan said in a note last week. These are the two reasons why the crypto rally stalled in recent weeks, according to JPMorgan. Bitcoin’s 27% rally in October reversed in November, with the cryptocurrency falling as much as 12% this month amid a risk-off period for… Source link

Deepens partnership with CoinShares Invesco is taking its first steps in the cryptocurrency exchange-traded product (ETP) space in Europe with the launch of a bitcoin strategy. The Invesco Physical Bitcoin ETP (BTIC) is listed on the Deutsche Boerse with a total expense ratio (TER) of 0.99%.  Physically-backed, BTIC tracks the CoinShares Bitcoin Hourly Reference Rate index to deliver the price performance… Source link

President of El Salvador Nayib Bukele Image: Presidencia de la República de El Salvador Here’s some unsolicited relationship advice: Get yourself a partner that loves you as much as El Salvador President Nayib Bukele loves bitcoin. That may not be physically possible, because this man really loves his… Source link