Bitcoin returns to $1T asset as BTC price blasts to $55K
It’s full bull all over again as $56,000 and a trillion-dollar market cap become the focus again for Bitcoin bulls. Bitcoin (BTC) surged even higher on Oct. 6 as its spot price saw a sudden surge upward to over $55,000, its highest since May 12.BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin fully cancels out China mining routData from Cointelegraph Markets Pro and TradingView shows BTC/USD hurtling to $55,500 on Oct. 6.The level beats a previous line in the sand for bulls at $53,000, which Bitcoin reached and then reversed nearby during its previous uptick in early....
Related News
Bitcoin truly is a new asset class that investors should take seriously, not just because of the extraordinary returns thus far, but because of its correlation to everything else. It’s All About the Correlation. The holy grail of portfolio management is to find an asset with a positive expected return that isn’t correlated to anything else. You want....
Bitcoin could continue playing its global safe-haven hedge role as a Wall Street veteran blasts off Jerome Powell and his pro-inflation policies in his later opinion editorial
News breaking today that payments giant PayPal would be supporting cryptocurrencies sent the price of Bitcoin rocketing over $1,000 in a single day. But it was another asset that soared to a new all-time high on the news. Here’s how PayPal’s stock shares also benefitted from supporting the emerging asset class. Bitcoin Blasts Over $1,000 […]
NFT and decentralized finance (DeFi) asset owners who are interested in putting their assets to work and intend to maximize passive returns without having to sell their holdings may be able to leverage them as collateral. They may use the funds acquired to benefit from arbitrage opportunities, purchase another asset with significant upside potential, and […]
Following a torrid December in which the price of bitcoin rose $10,000, three days into the new year it's up another $5,000.