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Guggenheim CIO repeats $20K Bitcoin price forecast as BTC doubles since last warning

The chief investment officer of investment giant Guggenheim has repeated his warning that Bitcoin (BTC) will crash to $20,000. In an interview with CNBC on April 20, Scott Minerd warned again that Bitcoin could lose half of its value in a pullback. Familiar Bitcoin bear target resurfaces “Given the massive move we’ve had in Bitcoin over the short run, things are very frothy, and I think we’re going to have to have a major correction in...

FT reveals Bitcoin headline on 12th anniversary of genesis block

Bitcoin (BTC) received a fitting yet accidental birthday present on Jan. 4 as the Financial Times made it front-page news on the 12 anniversary of its genesis block. Released on Monday, the FT’s upcoming headline had already made the rounds on crypto social media prior to publication.  12 years later: No bailouts, just Bitcoin The left-hand column of the front page was dedicated to Bitcoin’s price surge, while the accompanying price chart...

Bitcoin, stocks drop as markets uncertain about US election result

The price of Bitcoin (BTC) suddenly fell by 3% in several hours on Nov. 4 to $13,566 after briefly rising above $14,000. Coincidentally, the U.S. dollar, gold, and stocks all fell together in tandem. Analysts are pinpointing the uncertainty surrounding the election as the catalyst for the sharp correction. Bitcoin 1-hour chart. Source: TradingView.com Why markets fell after surging during the vote count When the mainstream media was actively...

Growing list of billion-dollar crypto ‘unicorns’ suggest the best is yet to come

In the traditional investing world ‘unicorn’ is a term used by venture capitalists to describe a privately held startup valued at more than $1 billion. Typically these startups have strong fundamentals and oftentimes a first-mover advantage that helps them rapidly rise in value to become prized investment opportunities for yield-seeking funds. Some of the best-known unicorns include Elon Musk’s SpaceX, a private rocket and spacecraft...

Bitcoin has actually only taken 2% of gold market cap, new data suggests

Bitcoin (BTC) has much further to go to suck away even 10% of gold’s market cap than old data claims, a popular indicator reveals. Highlighting numbers from Bitcoin’s realized cap on Jan. 12, Ki Young Ju, CEO of on-chain analytics resource CryptoQuant, said that the cryptocurrency had taken far less of gold’s market cap than previously claimed. Realized cap cools Bitcoin numbers game As Bitcoin grew in price towards the end of 2020 and hit...

Time to shine? Crypto should be given a chance after GameStop drama

What happened to GameStop’s stock at the end of January will be remembered by investors for years to come, as it was probably the first time in the history of the “free market” that a group of self-described internet “degenerates” outsmarted a bunch of Wall Street pros at their own game. As a recap, on Jan 27, when the Dow Jones Industrial Average fell sharply by over 2% — in large part due to the United States Federal Reserve...

Nas brags about Coinbase and crypto wealth in new track with DJ Khaled

American rapper and cryptocurrency investor Nasir Jones, better known by his stage name Nas, has invited fans to join the cryptocurrency industry in a newly released track. Released last week, “Sorry Not Sorry” features a collaboration with DJ Khaled, Jay-Z and James Fauntleroy, with Nas rapping about Coinbase, the United States’ largest crypto exchange that went public on Nasdaq on April 14. “Winner in life, fuck a coin toss / I’m...

Binance CEO warns of CBDC drawbacks as digital dollar pilots proceed in US

Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) will co-exist “for a while” with more restrictive digital currencies like China’s digital yuan, Binance CEO Changpeng Zhao said in a Bloomberg interview on Monday. According to Zhao, some of the key features of cryptocurrencies like Bitcoin (BTC) — freedom of use and limited supply — won’t be offered by CBDCs. “At the end of the day, those are core properties that users care...

'Not a good signal' — Bitcoin miner sell-off risk hits highest in 3 years

Bitcoin (BTC) miners appear to be selling large amounts of BTC once again. Data from CryptoQuant shows that the BTC Miners’ Position Index  — a metric tracking the ratio of BTC leaving miners’ wallets — achieved a three-year high. This trend indicates that miners are likely selling BTC on over-the-counter (OTC) or spot exchanges. Bitcoin Miners’ Position Index. Source: CryptoQuant On Dec. 10, two large miner-linked Bitcoin...

Canada could launch CBDC sooner than expected, central bank exec says

Timothy Lane, Deputy Governor of the Bank of Canada and head of research at the bank’s fintech and crypto department, claimed that Canada’s central bank digital currency, or CBDC, might see the light of the day “sooner than expected. Lane delivered his remarks in a Dec. 1 interview on the Bank of Canada’s approach to digital payment systems. According to Lane, the predicted decline in COVID-19-fueled cash transactions has been happening...

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