If Bitcoin sustains its momentum, then testing $36,000 will be the next real objective, said Dan Gunsberg, CEO of Hxro, a crypto trading platform. But he indicated that a significant break below $13,800 would herald a much weaker period.
said Kay Van-Petersen,said Craig Erlam,senior market analyst at Oanda Europe Ltd. Fed stimulus may have given it an extra kick but,Japan and China climbed.(Bloomberg) — Bitcoin has surged about 20% this week,Bitcoin doesnt need it. A break above $20,000 for the first time and stirring predictions that more gains lie ahead for the worlds largest cryptocurrency.Heres what people in markets are saying about Bitcoins move:The rally in digital assets is polarizing opinion,given Bitcoins history of boom and bust. Proponents argue the cryptocurrency is muscling in on gold as a portfolio diversifier amid dollar weakness and potential inflationary pressure. Others see speculative fervor that will inevitably lead to a bust akin to the meltdown three years ago after a furious Bitcoin rally.Guggenheims Scott Minerd Says Bitcoin Should Be Worth $400,
The pair has become less positively correlated as cryptocurrency rallies
FOMO by Big Investors May Support Bitcoins Polarizing Rally
Yet there are signs that longer term investors like asset managers and family offices are playing more of a role this time around, alongside trend-following quant funds. Bitcoins scarcity combined with rampant money printing by the Federal Reserve mean the digital token should eventually climb to about $400,000, Scott Minerd, the chief investment officer at Guggenheim Investments, said on Bloomberg TV on Wednesday.
The lowest-ever Bitcoin annual volatility measure versus gold and the stock market near the end of 2020 may sustain the cryptos performance advantage in 2021, said Bloomberg Intelligence strategist Mike McGlone in a report. He sees the price ratio of Bitcoin-to-gold headed for 100, if history is repeated, from its current level of around 12.
Bitcoin Surpasses $21,000 for First Time Amid Dizzying Rally
000 may bring the buzz and a strong end to the year.366 on Thursday,000The move above $20,breaching $22,You are using an older browser version. Please use asupported versionfor the best MSN experience.Bitcoin Tops $22,according to a composite of prices compiled by Bloomberg. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea,global macro strategist at Saxo Capital Markets Pte in Singapore.The digital coin jumped as much as 5.5% to about $22,000 and Strategists Say Rally Has Further to GoThe price will now go from linear to parabolic in part because retail investors have so far largely been out of this rally,000 has been coming and Im probably a little surprised it didnt come sooner,lets face it.