In just 12 months a single Bitcoin will be potentially be worth an eye-watering US$318,000 (A$432,000), according to a leaked Citbank report. Currently the cryptocurrency is trading at just over US$19,000 per coin. The Citibank report, which described Bitcoin as “21st century gold”, was leaked on Twitter, accompanied with the words, “Target: Moon”. “Moon” is Read more…
Amid the COVID-19 crisis, economies worldwide have shuddered and governments have been forced to introduce drastic measures to resuscitate the ailing economy. As a result of this uncertainty, bitcoin has become an attractive investment for institutions. The spark that started with MicroStrategy’s jumbo bitcoin purchase morphed to an institutional frenzy around the Read more…
It’s no longer news that the mainstream financial sector is gradually warming up to Bitcoin and cryptocurrencies. Blockchain, the technology behind Bitcoin, has also proven to be a catalyst for technological innovations in different sectors. And Bitcoin has continued to conquer and surpass several benchmarks set for the top cryptocurrency. Read more…
Jay Clayton, outgoing Chairman of the US Securities and Exchange Commission (SEC), said in an interview that Bitcoin was not a security, it was more like a stored value and a payment mechanism. In an interview with CNBC’s Squawk Box, Clayton accepted inefficiencies in the current payment mechanism and added Read more…
Bitcoin just took out another significant barrier on the way to a new all-time high. At the time of writing, BTC/USD is changing hands at $16,988 after hitting $17.081. While the cryptocurrency experts believe that the short-term downside correction is unavoidable, the long-term perspectives for the pioneer cryptocurrency remain bullish. Now that Read more…
The situation around a possible vaccine for the novel coronavirus COVID-19 continues to develop. Today, Moderna Therapeutics, one of the world’s largest pharmaceutical companies, announced that its preliminary data shows its coronavirus vaccine is more than 94% effective. This sent its stock price higher and major indices, which are all Read more…
Bitcoin has been flirting with the 16K area now for about a week. While a consolidation pattern has developed (which can be interpreted as momentum continuation) the general area is a very risky location to be putting on new long positions. The mistake to avoid is to buy into a Read more…
“The cryptocurrency may consolidate for a short period before moving higher into Christmas,” said Chris Thomas, head of digital assets at Swissquote Bank. Indeed, further notable gains look unlikely in the short term, as the cryptocurrency’s 60% rally from $9,800 to $15,900 seen over the past two months looks overstretched, Read more…
Legendary investor Bill Miller says that this is the right time to buy Bitcoin as the fundamentals are getting stronger every day. According to his interview given to CNBC on Friday, the legendary investor said that the bull market will be good for growth and traditional value. In his interview with the CNBC, legendary Read more…
Joe Biden and Kamala Harris have been declared the victors in the US election, but the biggest winners to emerge from the bitterly fought contest are China and bitcoin investors, according to crypto analyst Max Keiser. The host of RT’s Keiser Report said the change in government “will trigger a stampede into Read more…