Bitcoin

Guggenheim’s Scott Minerd. Lucy Nicholson/Reuters Bitcoin should be worth $400,000 based on its finite supply and value compared with gold, Guggenheim’s Scott Minerd told Bloomberg on Wednesday. “Our fundamental work shows that bitcoin should be worth about $400,000,” he said. “It’s based on the scarcity and relative valuation such as things like gold as a percentage of GDP.” His comments came on the day bitcoin crossed $20,000 for the first time. Watch bitcoin trade live here. Source link

We often get accused of only reporting on the bitcoin price when it goes down. And while that’s not entirely fair, we will admit that it mostly is. So sue us. There’s just something about a massive Ponzi scheme being sold to unsuspecting consumers as the “democratisation of finance” that irks us a little.  But not today! Join up join up, because bitcoin is on its way to da moon! Who cares if you’re just lining the pockets of the old HODLers?… Source link

After reaching a previous all-time high on November 30th, 2020 and December 1st, 2020, bitcoin is now trading well above $20,000 and has surpassed its previous peak price. Bitcoin’s value has rapidly increased over the past two months. According to CoinMarketCap, you could buy one bitcoin for $11,500 on October 16th. As I’m writing this post, you can buy one bitcoin for $20,775.72 — it represents a 7.27% increase compared to yesterday’s price. It is now priced well over $20,000… Source link

Alan Howard Photographer: Ringo Chiu/Zuma/Alamy  A hedge fund specializing in volatility bets has emerged as one of the largest investors in Bitcoin after quietly buying more than $600 million in cryptocurrencies and joining forces with Alan Howard, the co-founder of Brevan Howard Asset Management. Eric Peters, chief executive officer of One River Asset Management, said in an interview he… Source link

Bitcoin, after bouncing around under $20,000 per bitcoin for the last month, has smashed through the psychological price barrier. The bitcoin price, hitting $20,440 on the Luxembourg-based Bitstamp exchange before falling back slightly, is up around 200% over the last 12 months as governments ramp up spending in the wake of coronavirus lockdowns, investors look to bitcoin as a hedge against inflation, and institutional interest in bitcoin rises. Bitcoin investors, who have cheered the… Source link

Text size The predictions of the social-network framework are impressively correlated with the trajectory of Bitcoin’s price history. Dreamstime … Source link

Bitcoin has been able to hold above $19,000 as it has for the past several days. Meanwhile, the ether options market on Deribit has dipped in December although a block trade strategy in the $600-$800 price range has developed. Bitcoin (BTC) trading around $19,510 as of 21:00 UTC (4 p.m. ET). Gaining 1.6% over the previous 24 hours. Bitcoin’s 24-hour range: $19,053-$19,555 (CoinDesk 20) BTC above its 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market… Source link

Senator-elect Cynthia Lummis, a Republican from Wyoming Stefani Reynolds/Pool via REUTERS Senator-elect Cynthia Lummis told the What Bitcoin Did podcast that bitcoin is a better store of value than paper money and she plans to teach Congress how to use it to reduce the national debt when she assumes office in January. “If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with any regard to any fiat currency…there… Source link

WILMINGTON, DELAWARE – DECEMBER 14: U.S. President-elect Joe Biden speaks about the Electoral … [+] College vote certification process at The Queen theater on December 14, 2020 in Wilmington, Delaware. On Monday, presidential electors of the Electoral College gathered in state capitals across the nation to cast their ballots for president and vice president. Their ballots will be formally counted during a joint session of Congress on January 6, 2021. (Photo by Drew… Source link

Bitcoin (BTC) was rising for a fourth straight day, though in a repeat of last week’s action the cryptocurrency struggled to push above $20,000 after its months-long rally from a low around $5,000 in March.  “The level of $20,000, which is commonly equated with bitcoin’s all-time high, represents a massive psychological barrier and could likely require a lot of force to break through,” Mati Greenspan, founder of the foreign-exchange and cryptocurrency research firm Quantum Economics,… Source link