$106,034.00
1.18%$2,553.23
1.09%$2.17
0.40%$649.00
0.69%$147.41
1.35%$0.9998
0.00%$0.273172
-0.77%$0.170501
0.12%$2,553.01
1.16%$0.602655
0.55%$106,083.00
1.04%$37.50
-0.71%$3,076.16
0.93%$493.18
7.20%$2.84
1.61%$13.18
-0.09%$9.17
-0.13%$0.250233
-0.28%$18.22
1.59%$2.97
1.96%$49.63
0.09%$0.999845
0.01%$0.0000117
0.93%$2,554.04
1.12%$2,733.03
1.07%$85.54
0.90%$1.00
-0.01%$0.148769
1.39%$315.50
-0.88%$1.00
0.03%$3.54
-0.75%$4.32
0.84%$106,059.00
1.17%$7.86
0.61%$0.00001036
-0.12%$0.540426
0.67%$260.19
-0.60%$53.86
2.03%$1.18
0.01%$354.86
-0.39%$1.00
0.00%$4.44
0.12%$0.090681
-0.32%$5.09
1.37%$2.18
0.15%$178.54
1.55%$1.056
0.02%$16.85
2.07%$0.773675
-1.38%$29.67
1.18%$0.999665
-0.05%$0.626884
1.23%$16.97
11.74%$4.45
0.86%$0.02185215
0.99%$0.070933
0.38%$9.34
0.16%$4.06
1.21%$106,051.00
1.13%$0.689367
1.18%$0.288689
1.02%$0.190731
0.17%$0.080731
-3.93%$3.20
-1.35%$2.37
0.47%$0.999414
-0.16%$2,553.26
1.12%$0.93888
0.13%$0.307221
0.25%$4.40
0.74%$0.995012
-0.23%$0.170691
0.90%$101.07
1.08%$0.999733
-0.02%$11.13
0.77%$155.90
1.13%$1.35
-2.67%$1.21
-0.58%$0.405754
0.71%$2,907.05
1.12%$0.01763592
0.41%$2,674.52
1.21%$0.196898
12.84%$1.75
3.22%$1.66
0.05%$0.202088
10.04%$11.50
0.55%$0.00001446
1.89%$1.039
-4.42%$0.322116
-0.39%$1.00
-0.00%$0.999754
-0.04%$0.64869
4.78%$0.573508
0.99%$0.999551
-0.03%$0.058313
1.16%$2,729.49
0.86%$2,678.28
1.21%$0.01467941
-5.17%$105,846.00
1.26%$648.86
0.64%$105,910.00
1.07%$2,684.59
1.00%$3,373.20
-0.45%$0.084873
0.84%$2.86
10.96%$3,360.01
-0.33%$105,916.00
0.17%$0.514685
1.09%$0.588962
-1.75%$0.803475
1.59%$1.11
0.04%$0.411075
0.29%$2.22
-4.11%$164.80
1.43%$0.870338
-4.93%$0.00007522
0.91%$192.01
1.54%$2,757.53
1.02%$2.24
2.09%$111.48
0.00%$0.781346
-0.17%$0.693458
0.38%$41.89
0.64%$0.998661
-0.06%$19.93
0.46%$0.01443649
0.73%$32.19
5.30%$0.165665
0.70%$1.092
-0.15%$3.89
2.80%$0.257184
0.95%$0.997674
-0.02%$0.01261748
-0.92%$0.00963666
3.06%$0.00000061
-3.08%$105,628.00
1.47%$0.43633
0.83%$0.099976
1.99%$2.12
-5.54%$2,554.00
1.24%$0.99978
-0.06%$0.536368
0.65%$105,983.00
1.17%$0.553199
1.68%$0.34714
0.71%$37.50
-0.57%$2,553.86
1.20%$0.206589
0.38%$2,678.82
0.84%$0.495402
-1.48%$2,729.11
0.94%$105,972.00
1.25%$0.634028
-0.03%$2,553.97
1.12%$1.43
0.03%$0.998228
0.19%$0.257212
1.37%$8.50
-2.38%$0.01381135
-3.11%$2.54
10.18%$50.89
0.35%$0.408075
-0.49%$37.53
0.07%$0.061339
0.84%$0.170127
-0.16%$0.04371487
0.86%$0.999801
0.00%$1.00
-0.00%$2,552.25
1.04%$37.91
1.43%$0.999744
-0.01%$1.091
0.01%$0.00000041
-0.41%$0.996526
0.29%$0.511936
1.74%$5.66
2.19%$13.88
1.29%$1.27
-5.74%$1.001
-0.19%$2,712.03
1.01%$0.328719
2.00%$0.0000195
3.98%$1.34
-4.91%$1.022
1.33%$0.00660515
3.55%$0.00414759
-0.48%$0.11355
-0.06%$0.378315
-1.73%$0.073591
1.21%$2.29
1.96%$0.513689
0.79%$1.20
-2.36%$0.374695
0.22%$5.44
0.65%$2,815.67
1.16%$0.00410163
0.44%$0.00000089
-1.82%$1.43
1.24%$0.03556792
1.46%$0.00339566
1.43%$0.130437
1.34%$2,790.09
1.12%$0.134573
3.13%$0.01743698
-0.78%$0.0336565
1.67%$0.331936
-1.94%$105,945.00
1.20%$0.158446
0.94%$2,551.76
1.09%$105,910.00
1.58%$0.81024
9.88%$0.0327721
-2.43%$19.58
0.25%$0.00005805
0.86%$160.50
1.34%$1.00
0.00%$0.999034
-0.03%$1.00
0.14%$0.468975
-0.42%$1.13
0.38%$0.734691
0.27%$2,551.19
1.21%$0.0000015
1.02%$0.0035826
0.15%$0.999925
-0.01%$0.064803
0.14%$111.37
-0.88%$0.296039
-0.63%$105,865.00
1.16%$0.999779
-0.07%$18.22
1.62%$0.618183
-0.49%$0.0053294
0.37%$9.47
2.13%$0.189891
0.06%$1.015
-0.07%$1.70
0.46%$0.603285
0.28%$103,029.00
0.41%$2,128.78
1.17%$0.188483
-1.07%$6.28
1.01%$103,837.00
1.91%$0.01684318
0.84%$0.00369583
0.81%$0.418647
0.47%$19.95
0.69%Reading
Bitcoin is in uncharted territory. On November 1, the project’s price was bubbling around $14,000. Less than three months later, the price has tripled, and news outlets are falling over themselves to cover the price explosion. Why the sudden surge? There are a range of factors.
The first and most salient is Elon Musk, or rather Tesla. In a recent filing released yesterday, the company announced it had acquired $1.5 billion worth of Bitcoin.
Bitcoin's price today topped out at just over $47,000, a new all-time high for the world's largest cryptocurrency. Its market cap is currently at around $855 billion—about $40 billion more than the value of all shares in Tesla. Speaking of Tesla, the electric car maker played an outsized role in producing today's Bitcoin price surge. In early morning US trading, Bitcoin was selling for around $39,000, about $3,000 below its previous all-time high. Then came the news that Tesla had bought $1.5 bi...
That led to a 20% jump in Bitcoin’s price as the news was interpreted as a vindication that Bitcoin is an asset that big companies can get behind, leading to an 81% increase in trading volume over night.
Tesla $TSLA has de-risked the acquisition of #bitcoin by public companies and accelerated the digital transformation of corporate balance sheets. Treasurers are now thinking about how to convert a non-performing asset into the best performing asset. https://t.co/7mO7z6WtQ4
— Michael Saylor (@michael_saylor) February 8, 2021
As the news ripples across the markets, the price is being sustained. But more broadly, Bitcoin’s meteoric rise owes a debt to the Federal Reserve’s continued propping up of the economy. As we’ve discussed many times in this column, 2020 saw the performance of Bitcoin and the S&P 500 begin to more closely resemble each other. That trend continues today.
When historians look back on 2020 and ask what will it be most known for, there are two stories they could tell. On the one hand, 2020 could be defined by a planet rocked by a pandemic that caused millions to die, and an economic fall out that will be felt long after a vaccine is rolled out. On the other hand, historians might say that 2020 was the year investors and their returns took off into the stratosphere. In particular, Bitcoin’s record-breaking price surge, and the American stock market...
As Bitcoin has boomed, the Dow has had the best start to a February since 1931, closing up more than 200 points for the day. The S&P 500 and the Nasdaq are also up too. The Russell 2000 is on course for its best start to a February ever. These are not coincidental numbers.
As new larger investors move into the cryptocurrency space, Bitcoin’s price starts to be more influenced by matters in the broader economy.
There are several examples of this, that we’ve covered before: the chaos at the Capitol Building, the delayed stimulus bill, even Trump catching Covid all saw US stock markets and crypto prices act similarly.
But while traditional assets are reacting to the US economy’s recovery, and the $1.9 trillion stimulus package passed by Joe Biden this week, analysts are starting to wonder how far Bitcoin’s price could go.
Over on MarketMilk, the Relative Strength Index, Stochastic Oscillator, Williams %R, Bollinger Bands and Keltner Channel indicators - measures that all use historical price data to understand market sentiment - all suggest Bitcoin is severely overbought.
These indicators have traditionally signalled a correction is on the cards. Investor Peter Brandt has suggested the market could collapse back down to $30,000. “The current parabola could correct back toward $30,000 without any damage to the market. The bull trend in 2015-2017 experienced nine corrections greater than 30%. The current market has reached just short of a single 30% correction,” he said on TradingView.
But these predictions all rely on Bitcoin’s history. The mania of 2017 that pushed the price of Bitcoin to $20,000, has been replaced by a hushed awe. No one really knows how high Bitcoin will go, but some investors it seems, are thinking about quitting while they’re still ahead.
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Semler Scientific plans to acquire up to 105,000 Bitcoin by 2027, aiming to become the second-largest corporate holder of the asset after Michael Saylor’s Strategy. The NASDAQ-listed healthcare technology firm revealed the aggressive timeline on Thursday as part of a new three-year plan focused on expanding its treasury reserves by accumulating Bitcoin. Since adopting the world's largest crypto as its primary treasury reserve asset in May last year, Semler has framed the move not as a speculativ...
The Trump family has quietly reduced its majority stake in World Liberty Financial, according to an update to the company’s legal disclosure section, signaling a potential shift in the Trump involvement in the controversial DeFi project as it faces growing scrutiny from Democratic lawmakers. First reported by Forbes, DT Marks DEFI LLC—a business entity linked to Donald Trump and certain family members—recently cut its ownership share in the company from 60% to about 40%. “DT Marks DEFI LLC, an e...
Revolut, one of the biggest neobanks in the world, is continuing its pursuit of creating its own stablecoin, sources familiar with the matter told Decrypt. The development comes amid a growing list of non-crypto companies now considering issuing their own stablecoins as the regulatory environment shifts in the United States and around the world. The London-based bank launched Revolut X, a centralized crypto exchange available across the European Union, in 2024. Now, a year later, the company is...
