Bitcoin

Ethereum Surges As Bitcoin Tops $28k and Crashes

Bitcoin  has been stealing the spotlight in recent weeks as it has soared to record-er and record-er heights, but overnight saw a ‘regime-shift’ as Bitcoin topped $28,500… Source: Bloomberg …before crashing over $2,000 lower, only to be bought back… Source: Bloomberg Bitcoin’s surge had pushed it above its stock-to-flow model estimate… Source Some still have…

Bitcoin Surges Towards $27k As Short Squeeze Accelerates

Update (1715ET): It seems like only yesterday, Bitcoin was trading at $24,000… And now, as short liquidations accelerate, the leading cryptocurrency is rapidly approaching $27,000… As CoinTelegraph notes, according to data from Bybt.com, more than $131 million worth of Bitcoin futures contracts were liquidated in the last 24 hours… As long as the derivatives market…

Is Bitcoin Strangling The Other Cryptocurrencies?

Authored by John Rubino via DollarCollapse.com, Bitcoin had a helluva week. And many of its fans see its recent spike as just the beginning of a run that converts it from cult favorite to global reserve currency. That’s an exciting prospect for a lot of reasons. But it’s not yet a done deal. One of…

Bitcoin At $650,000? One Stunning Chart, And Why JPMorgan Thinks Nothing Can Stop It Now

In what is JPMorgan’s last Flows and Liquidity report for the year, quant Nikolaos Panigirtzoglou writes that with the year coming to a close, it is useful to look at how the investment landscape changed during 2020, or said otherwise, “how have different asset classes and types of investors fared in terms of overall growth…

Goldman: Bitcoin & Gold "Can Coexist"

The last few weeks have seen a dramatic divergence in the fortunes of gold and bitcoin as a wide range of strategists and talking heads note that “there also seems to be an increasing demand to use Bitcoin where Gold used to be used to hedge Dollar risk, inflation and other things.” In recent weeks…

Bitcoin Nears $24k, Ether Tops $600 As Institutional Adoption Accelerates

The extent of institutional uptake this month is rapidly becoming an order of magnitude more significant as digital gold is seeing rising interest relative to the barbarous relic… Source: Bloomberg In addition to Guggenheim giving a $400,000 price evaluation, hedge fund One River Asset Management confirmed on Wednesday that it planned to bring its Bitcoin…

Bitcoin Reaches New Record High, Tops $20k For First Time

For the first time in its history, the price of Bitcoin has topped $20,000 Source: Bloomberg Increasing optimism in the last few days over a trillion-dollar-ish COVID relief bill have catalyzed this latest push higher as investors seek some non-government-dilutable store of wealth. Source: Bloomberg Bitcoin is “eating the world” thanks to 10-year returns of…

JPMorgan Doubles Down On Bitcoin: Sees Structural Gold-To-Crypto Flow Over Coming Years

Having admitted it was wrong about the end of the Bitcoin Bull run, JPMorgan is doubling down on its bullish crypto bet, warning that the rise of cryptocurrencies in mainstream finance is coming at the expense of gold. Gold outflows have been steady as crypto inflows and prices have soared… However, it’s not all unicorns…

MicroStrategy Buys Another $50 Million In Bitcoin At $19,427; Bringing Total To Half A Billion

Last week, just after Bitcoin’s first modest correction since the start of its March rally which prompted an amusing twitter meltdown by Nouriel Roubini, we reported that one of the world’s biggest fixed income asset managers, Guggenheim Partners, jumped on the bitcoin bandwagon when it announced that it was reserving the right for its $5.3…

Guggenheim To Invest Up To $530 Million In Bitcoin After Roubini Twitter Meltdown

After relentlessly climbing from its March $4,900 lows, Bitcoin finally saw a modest selloff last week after rising 285% from its lows and 160% since the start of the year prompting even establishment banks such as Deutsche Bank to include it in its grouping of key asset categories… … leading to the now traditional kneejerk…

Stocks Give Thanks For Fed Liquidity As Dollar, Gold, & Bitcoin Dumped

Greed, Greed-er, and Greed-est… Source: CNN This level of extreme greed didn’t end well last time. Interestingly, as the week progressed, Nasdaq caught up with Small Caps early-week outperformance, stalling the ‘rotation’ trend. The Dow was the week’s laggard but still managed solid gains… As a reminder, the recent vaccine headlines have put global and…

Dow, S&P, & Bitcoin Soar To Record Close As Dollar & Gold Sink

Consumer Confidence tumbled… Source: Bloomberg …COVID cases are soaring, lockdowns are crushing small businesses, and ‘hope’ is fading fast… Source: Bloomberg …so Buy The F**king Record Highs in stocks and dump the dollar, bonds, and gold (because who needs ‘protection’ when there is Yellen, vaccines, and stimulus-y hopes). As we noted earlier, The Dow topped…

JPMorgan Admits It Was Wrong About End Of Bitcoin Bull Run, Renews $140,000-Plus Price Forecast

At the time of this writing, the cryptocurrency known as Bitcoin has seen its value skyrocket to around $19,000  after dropping down to around just $4,840 in mid-March. This is significant because the all-time high for the cryptocurrency is $19,783 back in December of 2017, only to drop down to as low as $3,122. Within the past…

Record Inflows To Bitcoin; Record Outflows From Gold

On Wednesday, when looking at the growing decoupling between gold which has traded flat since August, and bitcoin which is about to take out its all time highs around $20,000… … we pointed out an observation from Deutsche which said that gold was up both during periods when deflation was the dominant concern… … and…

Why Big Banks Are Bullish on Bitcoin Now!

By Neenah Payne The following articles show the sea change happening now as big banks hop on the bitcoin bandwagon! The Forbes October 26 article Why America’s Biggest Bank Is Suddenly Very Bullish On Bitcoin says: JP Morgan, the largest U.S. bank by assets, has this year softened its previously harsh tone on bitcoin. The…

Bank Analyst Puts Bitcoin Price Prediction “As High As $318,000”

Authored by Shaurya Malwa via Decrypt.co, In brief A senior Citi executive predicts Bitcoin may reach the six-figure price mark in 2021. Bitcoin’s rise has been similar to gold in the 1970s, the executive said. The rise of state-backed digital currencies also shows a changing regime, one that supports the growth of Bitcoin, he added….

As Bitcoin Tops $16k, Dalio Warns Nations Will ‘Outlaw’ Crypto If Prices Keep Rising

The ongoing institutional flow into crypto has pushed Bitcoin back above $16,000 this morning. Source: Bloomberg That is the highest since Jan 2018… Source: Bloomberg But this bullish surge could have consequences as Ray Dalio, the billionaire hedge fund legend, warns that Bitcoin’s price going higher will only force governments to take action. image courtesy…

Bitcoin Nears $16k As Feds “Seize” $1 Billion In Crypto Linked To ‘Silk Road’

Bitcoin continued its post-election surge overnight, getting close to $16,000 for the first time since Jan 2018 as the volume of global negative-yielding debt soars, Source: Bloomberg And while the initial Bitcoin strength mirrored altcoin weakness, that rotation has stalled and now the entire crypto space is rising… Source: Bloomberg And this strength is coming…

QE Hope Sparks Big-Tech, Bitcoin, & Bullion Bid; But ‘Smart’ Money Is Dumping

If everything is so awesome in a new-but-same-as-the-old gridlock’d Washington (according to stocks), why is the smart money running out of the market? Source: Bloomberg We have seen this pattern before and it did not end well… Source: Bloomberg The bottom line for the last day or two is that Fed QE will be the…

Bitcoin Tops $14k As Billion-Dollar ‘Silk Road’ Wallet Moves For First Time Since 2015

After a tempestuous 24 hours, Bitcoin prices are back above $14,000 this afternoon, officially trading for 100 straight days above $10,000… Source: Bloomberg This move comes as CoinTelegraph’s Turner Wright notes that CipherTrace speculated that the anonymous user made the transactions “to stay up to date with the Bitcoin network,” but it may have been…