Bitcoin has had a nice rally in the past week, up about 14% from its low near $6,250 to a high of $7,126 on August 28th (the time of this writing). Other altcoins have done even better. So is this it? Is this the start of the new bull run for Bitcoin? I wish I […]
As I mentioned to my subscribers last week, Bitcoin rallied up to resistance last week at the top of a possible descending wedge pattern (bold purple lines) and stopped just short of its 200-day moving average. This moving average stopped the previous rally attempt into the May 5th high and it remains possible we’ll see […]
Billionaire and cryptocurrency bull Tim Draper is holding steady to his $250,000 Bitcoin prediction by 2022. He first made the prediction on April 12th, at ‘2018 Block (Chain) Party’, at his self-named Draper University in San Mateo, California. He said then: “I’m thinking $250,000 a bitcoin by 2022.” “Believe it. They’re going to think you’re crazy, […]
London-based HSBC financial services and bank claims that it has initiated the world’s first trade finance transaction utilizing blockchain technology. The bank says the transaction occurred in early May. Blockchain is the underlying technology system that allows for the anonymous creation and verification of Bitcoin and other cryptocurrencies. The creation of cryptocurrencies is recorded on […]
A four-year-old startup with a funny name holds about $10 billion dollars’ worth of Bitcoin — about 7% of all Bitcoin in existence — in impenetrable bunkers around the world. Because rich people want it that way. The company, Xapo, is the brainchild of serial web entrepreneur Wences Casares. His clientele includes millionaires and billionaires that […]
Nobel Peace Prize winning economist Robert Shiller is no fan of Bitcoin, once saying that the cryptocurrency represents a bubble soon to burst. Now Shiller has changed his tune. Bitcoin is still a bubble, he says, but it’s one that potentially might never burst. “I’m interested in Bitcoin as a sort of bubble. It doesn’t mean […]
Financial experts are worried that Bitcoin mania and the overestimation of the safety of Bitcoin IRAs will normalize the idea of using cryptocurrencies as a viable investment option in retirement planning. It is a retirement savings strategy that is fraught with risk, they say, as well as hidden fees and unpredictability. Auctus, a retirement planning firm, […]
The Dow is now more than 2,000 points off its Jan. 26 all-time high. Meanwhile, Bitcoin is down dramatically form its mid-December peak. Correlation, but causation? A sustained selloff in the stock market certainly would clarify the correlation between the prices of equities and cryptocurrencies, analysts predict. Despite the apparent synchrony between crypto and stocks […]
Is Bitcoin a hedge against stock market risk, like gold, as some early investors hoped? Or something entirely unrelated to investing, a new, extra-official currency, as its creators seemed to intend? The answer could affect investment decisions valued in hundreds of billion of dollars and directly affect Bitcoin’s future valuation. Part of the appeal of […]
Levi Strauss, the namesake of Levi’s jeans, was a genius. He understood there were several ways to get rich in California’s gold rush. The obvious way is to search for gold, hoping to strike it rich. A few miners did succeed in this way, but the odds against success are long. Many miners of the […]
