Bitcoin

Despite a tumultuous 2020, the stock market ended the year substantially higher. The benchmark S&P 500 finished up by 16%, which is nearly double the index’s average annual return over the past 40 years. But this gain pales in comparison to what bitcoin has been able to deliver for its investors. Last year, the world’s largest cryptocurrency by market cap more than quadrupled. Meanwhile, over the trailing five-year period, it’s gained better than… Source link

Bitcoin’s demand may fluctuate, but supply is known. getty From the “Double Spend” scare of January 20, 2021 to the flight to the relative safety of cryptocurrency’s decentralized trading platform on January 30, 2021, a ten day window in the life of Bitcoin illustrates the power of fixed supply versus variable demand on prices. When rumors surfaced of a possible glitch in the blockchain system supporting Bitcoin, buying interest in the megacrypto… Source link

Bitcoin has surged this week, climbing after Tesla TSLA chief executive Elon Musk gave the cryptocurrency a tacit endorsement. Musk sent the bitcoin price sharply higher as a long-running battle between bullish retail traders organised via Reddit’s WallStreetBets forum and Wall Street hedge funds that have long been shorting GameStop shares reached its climax—with regulators and brokerages trying to calm frantic markets with heavy-handed restrictions. Now, data has revealed… Source link

There was a clash between the suits and the bitcoiners last week- already forgotten, due to the events rapidly overtaking everyone this week. Last week, both Christine Lagarde and Janet Yellen were taken to task for comments suggesting that bitcoin is a vehicle for money laundering, payments for ransomware, for pedophilia, for all manner of unsavory activity. The crypto contingent was baying for their blood suggesting that about 3% to 4% of all fiat transactions fuel money laundering and all… Source link

TipRanks Time to Turn Bullish on These 2 Oil Stocks, Says Raymond James We are entering a new paradigm for the oil and gas industry, one far removed from the Trump Presidency’s pro-drilling policies. The Biden Admin is likely to cut back on oil and gas production in the US, in favor of promoting renewable energy sources and carbon pollution reduction. In the short run, his policies are likely to push oil and gas prices up – and that may turn out to help the hydrocarbon sector, at least at… Source link

Elon Musk, the billionaire founder of Tesla TSLA who’s ridden the electric car-marker’s soaring share price toward to the top of the world’s rich lists this year, has boosted the price of bitcoin. The bitcoin price, after dipping under $30,000 per bitcoin this week, suddenly leaped 20% higher after Musk changed his Twitter bio to “#bitcoin” and posted: “In retrospect, it was inevitable.” MORE FROM FORBESEx-Goldman Sachs CEO Issues Serious Bitcoin Warning Amid Price Crash FearsBy

The speculative frenzy that’s gripped a host of left-for-dead retail stocks spilled into the crypto world Friday, with Bitcoin surging as much as 16%. The digital token rallied overnight after Elon Musk tweeted “#bitcoin” to his legions of followers and day traders were restricted from transacting some of their favorite stocks. It had plunged from a… Source link

Three stories EY’s blockchain lead Paul Brody thinks decentralized finance (DeFi) could be coming to everyday consumers. The EY team usually focuses its attention on enterprise blockchain, but the red-hot fintech market, and its mirror image in DeFi, has caught Brody’s eye. According to his theory, platforms such as Robinhood, PayPal and Square could look to integrate increasingly popular DeFi applications. “If I had to make a bold prediction, I think by the end of 2021 at least one… Source link

Photographer: Nicolas Tucat/AFP/Getty Images Bitcoin dropped below $30,000 for the second time in the past week as the largest cryptocurrency struggles to regain momentum after reaching record highs earlier this month. The digital asset fell as much as 7.9% to $29,499 Wednesday The last time it traded below $30,000 was Jan. 22. It set a record high of $41,981 on Jan. 8.

Bitcoin (BTC) retested the $30,000 support on Jan. 27 as a day of losses culminated in violation of the psychologically significant price level. BTC/USD 1-minute candle chart (Bitstamp). Source: Tradingview BTC price spooks amid GameStop row Data from Cointelegraph Markets and Tradingview showed any bullish momentum left in Bitcoin dissipate on Wednesday after rejection at highs near $33,000. “Another $30,000 retest for #Bitcoin,” Cointelegraph Markets analyst Michaël van de Poppe… Source link