Bitcoin is currently on bullish momentum.At 05:03 EST on Thu 17 Dec, Bitcoin is at $22,594.60 and up by 3.82% in the last 6 hours.Bitcoin Range
Over the last six hours, Bitcoin’s higher value was $22,879.60 and the lower value was $21,764.00.
Over the last twelve hours, Bitcoin’s higher value was $22,879.60 and the lower value was $21,308.30.
In relation to Bitcoin’s daily highs and lows, it’s 14.682% up from its trailing 24-hour low of $19,702.00 and 1.246% down from its trailing 24-hour high of $22,879.60.
In relation to the Bitcoin’s yearly highs and lows, it’s 450.151% up from its 52-week low and 4.207% down from its 52-week high.Last days news “If pension funds and insurance companies in the U.S., euro area, U.K.and Japan allocate 1% of assets to Bitcoin, that would result in additional Bitcoin demand of $600 billion, the strategists said.”, “At the same time, traditional investors like insurers and pension portfolios face regulatory hurdles relating to risk levels and liability mismatches, likely limiting how much they can put into Bitcoin, the JPMorgan strategists wrote.”
Fund managers see Bitcoin trade crowded as institutions jump in.
According to Bloomberg Quint on Tue Dec 15, “Recent forays into the cryptocurrencies space by Square Inc., MicroStrategy Inc.and Massachusetts Mutual Life Insurance Co.are “laying out the groundwork for how you add Bitcoin to your balance sheet, how you should think about Bitcoin as a substitute for cash,” Ginns said on a webinar hosted by Evercore ISI Tuesday.”, “Bitcoin Cash gained more than 9%, while the Bloomberg Galaxy Crypto Index advanced as much as 2%.”
Bitcoin surpasses $20,000 for first time amid dizzying rally.
According to Bloomberg Quint on Wed Dec 16, “Bitcoin has surged despite a severe crash in March that saw it lose 25% amid the coronavirus pandemic.”, “Bitcoin surpassed $20,000 for the first time, another milestone in what’s been an eye-popping rally for the controversial digital asset this year.”
“”Having a product that can be bought directly — it can be bought through their financial adviser on behalf of them — it just makes their life a lot simpler than having to address their desire for Bitcoin via different structures and wallets,” MacAlpine said in an interview.”, “The Bitcoin held in the fund will be stored in a segregated cold-storage system, and investors will be able to redeem the fund’s units at net asset value on an annual basis.”
“He described executing his trades as inconspicuously as possible and finishing all the buying in November before Bitcoin hit $16,000.”, “Mike Novogratz, the macro trader who started Galaxy Digital Holdings Ltd., has been saying “the cavalry is coming” for years, only to watch as Bitcoin slumped to a recent low of $3,157 in December 2018 before recovering.”
“While Bitcoin is great as a billionaire’s speculative plaything, it’s hardly auseful digital currency or safe haven investment for the average punter.
“, “Now that Bitcoin has topped $20,000 for the first time, should you shift your hard-earned cash into digital currencies? ”
“I personally think Bitcoin replacing the dollar is a pipe dream.”, “Coppola: Bitcoin is clearly on a tear, and this will attract investors looking for yield, including institutional investors who are getting short commons at the moment because of very low yields.”
Guggenheim’s scott minerd says Bitcoin should be worth $400,000.According to Bloomberg Quint on Wed Dec 16, “His comments came on the same day Bitcoin breached $20,000 for the first time, bringing its 2020 gain to 190%.”, “It’s a similar argument to what’s often offered by some of Bitcoin’s most prominent backers, including famed investor Paul Tudor Jones, who said earlier this year he’s been buying Bitcoin as a hedge against what he expects will be faster inflation after years of muted consumer-price increases.”
Bitcoin extends “He sees the price ratio of Bitcoin-to-gold headed for 100, if history is repeated, from its current level of around 12.”, “Here’s what people in markets are saying about Bitcoin’s move:” TAGS.
