Cryptocurrency Analysis and News Portal
Quick take:Bitcoin replacing gold is occurring at a fast rate as investors divert funds ‘to where it is treated best’Gold still maintains its place in jewelry and coin collections, but Bitcoin is replacing it as a store of valueBTC’s volatility and ETF flows indicate that Bitcoin is in the early
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Bitcoin has picked up its bullish momentum in the last 24 hours. High levels of Institutional adoption, fundamentals, and on-chain indicators look bullish and point to an extension of the rally, at least, in the long term. In a recent report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, states that
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Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a "risk-off" choice for investors.In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency.$400,000 BTC
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Bitcoin is currently struggling to reclaim $50,000, but one chief Bloomberg analyst says that the cryptocurrency could be ready to “march” toward $100,000 per coin in the near term. Here’s the data the senior commodity strategist says backs up the theory for the “nascent” cryptocurrency’s price doubling in short order. Bitcoin Building
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Quick summary:Bitcoin is replacing gold in investment portfolios is acceleratingBitcoin has gained legitimacy with declining volatility and is increasingly becoming a global digital store of value$100k is the logical next threshold for BitcoinShort-term, Bitcoin could dip to $42kdue to a weakening stock marketThe team at Bloomberg has released their monthly
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With only two full days of trading under its belt, the first Bitcoin (BTC) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher.According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by
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In a recent video debate, Bitcoin skeptic Frances Coppola debated Bloomberg senior commodity strategist Mike McGlone on the economics of Bitcoin, market manipulation and predictions for 2021. Coppola is skeptical that Bitcoin will ever succeed as a store of value because of its high volatility which, according to her, is a
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Morgan Stanley’s $150 billion Counterpoint Global investment unit is considering placing a bet on bitcoin, according to a report by Bloomberg, which cited people familiar with the matter.CORRECTION (Feb. 13 15:57 UTC): Corrects that the investment arm has $150 billion under management. Source
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An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country.Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under
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Samsung plans for its foundry to manufacture 3nm chips. Source
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