$96,522.00
2.18%$1,848.69
4.52%$2.24
3.00%$604.54
1.19%$152.17
6.54%$0.999908
0.00%$0.178847
4.23%$0.70436
3.53%$0.249062
1.57%$1,847.22
4.48%$3.72
10.41%$96,514.00
2.26%$14.94
5.40%$21.43
2.30%$0.279369
2.72%$8.95
-1.24%$0.0000136
3.77%$0.189367
5.14%$3.21
0.12%$2,220.92
4.26%$0.999919
0.00%$371.02
2.29%$21.00
14.87%$87.02
4.38%$4.18
2.23%$1,847.69
4.52%$0.999762
-0.02%$4.39
0.96%$272.44
1.48%$1.00
0.09%$0.614194
7.36%$29.31
1.25%$1,970.20
4.58%$96,548.00
2.30%$0.00000904
3.18%$5.53
4.89%$371.49
6.05%$5.38
3.41%$2.58
5.49%$51.81
0.80%$1.05
0.01%$0.93169
3.24%$1.00
0.00%$21.81
0.40%$175.20
10.19%$13.14
5.24%$4.89
1.47%$16.90
1.94%$31.89
2.36%$0.743564
1.29%$0.090373
3.26%$0.095232
10.35%$4.63
7.91%$0.0272178
3.25%$0.244299
3.69%$0.999339
-0.05%$1.17
-0.00%$0.772553
8.91%$4.40
1.78%$96,075.00
3.92%$0.226215
3.21%$2.82
3.16%$0.334419
7.98%$4.27
-0.38%$0.551488
11.65%$2.75
2.56%$0.341092
5.66%$4.17
3.53%$0.00001946
4.02%$0.999003
-0.02%$96,458.00
2.15%$1.083
4.75%$0.473185
6.46%$10.78
0.67%$0.849691
7.47%$1,520.33
3.35%$1.26
14.35%$159.52
6.72%$1.25
4.30%$0.739285
-0.19%$0.077408
-2.26%$1.77
43.80%$0.225654
7.59%$0.01807878
1.45%$77.39
4.47%$1,848.96
4.60%$4.02
0.82%$0.584578
3.25%$1,925.80
4.72%$0.999944
-0.11%$0.682258
1.37%$10.41
10.53%$0.742949
12.99%$0.099819
4.84%$1.00
0.07%$0.999645
-0.03%$604.62
1.29%$2,095.99
4.48%$0.00008957
1.63%$2.90
7.33%$0.0172616
4.86%$0.636859
16.97%$1.00
-0.00%$3,236.93
-2.25%$0.211523
4.56%$0.788736
2.13%$0.85829
5.75%$168.29
7.13%$3,240.74
-2.20%$0.767306
4.33%$96,383.00
2.26%$38.30
3.29%$0.01719694
3.32%$13.26
2.00%$196.07
6.90%$96,710.00
4.62%$96,045.00
2.45%$0.30423
4.10%$3.99
4.27%$0.01125153
10.09%$0.00000071
1.25%$1,968.34
4.56%$0.117318
4.05%$0.068146
13.34%$2.11
2.69%$0.411622
3.43%$0.997679
0.00%$0.645006
12.22%$19.06
7.91%$3.01
-5.33%$0.998537
0.02%$0.249379
2.26%$0.01819264
2.41%$1.87
5.57%$0.320977
3.53%$1,933.46
4.72%$0.567349
3.32%$1.11
0.38%$0.721615
23.74%$35.79
0.80%$3.52
4.76%$0.154617
4.01%$0.580605
8.08%$0.00932033
7.76%$0.445049
9.34%$0.00565832
9.36%$0.205968
13.30%$0.071936
0.91%$0.657324
3.69%$17.89
6.05%$0.99857
0.02%$96,481.00
2.32%$0.999912
0.00%$1,930.25
4.50%$1.39
4.09%$95,658.00
0.00%$0.444267
1.59%$0.999907
0.00%$0.150227
3.59%$0.483662
0.90%$93,502.00
4.24%$0.178854
4.45%$7.00
5.96%$0.00869365
20.63%$96,394.00
2.29%$0.00002241
2.62%$1.59
4.32%$6.21
3.98%$0.542258
2.28%$3.57
1.14%$1,847.61
4.57%$0.244277
3.38%$1.70
6.90%$110.88
0.01%$0.00000042
0.85%$0.080833
2.78%$2.57
4.11%$0.090777
5.51%$1.008
0.85%$1.085
0.00%$0.0424824
4.34%$1,850.79
4.74%$1,967.40
4.71%$0.388438
9.30%$0.191932
3.50%$0.03845875
3.49%$1,847.75
4.55%$0.394682
2.33%$40.58
0.43%$1.00
-0.20%$0.561138
3.12%$1,846.37
4.90%$0.0041837
2.01%$21.55
-0.07%$1.33
10.97%$0.773802
14.71%$0.133114
0.77%$31.73
0.52%$0.01786019
1.51%$0.308197
23.30%$1,886.56
3.86%$0.00006185
3.34%$0.805986
2.04%$1.001
0.05%$0.724489
4.79%$1.00
0.21%$1.00
0.05%$0.00459351
5.18%$1.00
-0.08%$20.85
14.44%$2.83
3.26%$96,384.00
2.23%$0.735444
0.74%$0.00300099
15.32%$0.00000147
3.02%$0.24322
3.28%$1,837.38
4.81%$0.211892
4.49%$113.48
2.27%$0.140148
0.21%$0.499769
-2.23%$23.50
0.72%$3.55
0.78%$95,707.00
2.92%$0.999566
0.04%$0.999694
-0.01%$0.273571
14.49%$0.273099
1.90%$1,955.50
4.62%$0.00265656
-0.56%$3,224.11
-2.34%$2.86
1.69%$0.533297
2.07%$0.03142233
1.31%$0.03811675
1.57%$0.00353539
5.53%$0.989357
7.65%$15.82
4.35%$1,940.14
2.33%$0.00292
3.81%$0.111143
3.63%$0.01314446
5.02%$3.07
13.58%$0.73433
3.21%$21.43
2.51%$0.00000063
8.68%$2,028.98
4.62%$1.096
0.04%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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Metaplanet Inc. plans to establish a wholly owned subsidiary in Florida, aiming to raise $250 million to further fuel its Bitcoin treasury strategy. The Tokyo-listed investment firm, which crossed the 5,000 BTC threshold last week, will operate its new entity as Metaplanet Treasury Corp. to expand its access to U.S. institutional investors and bolster 24-hour operations across time zones. "The reason for choosing Florida is clear: the state is rapidly emerging as a global hub for Bitcoin innovat...
Medical device company Semler Scientific purchased another 165 Bitcoin for $15.7 million between the dates of April 25-29, bolstering its Bitcoin treasury to 3,467 BTC. The purchase marks the firm’s second major Bitcoin acquisition in the last week after it announced that it added 111 BTC for $10 million on April 25. As of Wednesday, Semler’s Bitcoin treasury is valued at more than $327 million. “We bleed orange,” Semler Scientific Chairman Eric Semler posted on X (formerly known as Twitter), j...
Galaxy Digital Holdings plans to list on the Nasdaq Global Select Market next month, the firm said Wednesday in a statement, a byproduct of the pro crypto pivot of U.S. federal regulators and policymakers. The listing, which is subject to shareholder approval, will tentatively go live on May 16, according to Galaxy Digital's statement. The company's Class A common stock will trade under the ticker GLXY. In listing on the Global Select Market, Galaxy Digital aims to broaden its access to capital,...
