As the price of the world’s top cryptocurrency, bitcoin, continues to hover around $30,000, some industry experts are voicing their bullish long-term views on the matter.
Want to know where the crypto market goes from here? Barry Silbert, a power player in the digital-asset sector, says that investors ought to look no further than the stock market, in a Sunday-night tweet amid a downturn in digital assets.
Another day, another attempt by China - where the reception of the digital yuan has been a total disaster so far much to Beijing's complete humiliation - to crash Crypto, with Reuters and Bloomberg reporting moments ago that just two days after the PBOC barred financial institutions from accepting bitcoin as payment, China's vice premier Liu He said (at 11pm on Friday local time) that China will crack down on bitcoin mining and trading activities, which of course is what we already knew.
The world’s most prominent cryptocurrency, bitcoin, has the potential to reach $100,000 in the current bull cycle despite the growing uncertainty and volatility, says Lyn Alden, the founder of Lyn Alden Investment Strategy.
As we previewed earlier, Wall Street expectations from TSLA's earnings today are rather stratospheric, but as Bloomberg notes, even if the company misses big, the S&P 500 likely won’t be in the doldrums tomorrow because of it. Why? Simply put, the electric-vehicle maker matters less than other high-profile stocks in the broad market gauge.
The world’s most popular digital currency, bitcoin, climbed 8% on Monday to $53,544 per coin, in a sign that the cryptocurrency market is recovering from a broad sell-off in recent days.
Bloomberg quickly polled several Wall Street traders who focused on the policy’s implications for investing, and concluded that while it was too soon to panic, prospects of a higher levy on stock profits could spark near-term selling as investors look to skirt a higher rate.