Bitcoin returns to test $40K as macro factors pile up to squash BTC bulls
Bitcoin price action goes from $45,000 to $40,800 in 48 hours thanks to an increasingly volatile macro environment. Bitcoin (BTC) bended to new macro pressures on March 4 after bulls failed to hold $42,000 for long.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewEurope stocks sink on Friday openData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching lows of $40,800 on Bitstamp Friday after a major options expiry event.Overnight performance, initially showing a recovery, had been stymied by worries over a nuclear power plant fire in Ukraine.Stocks futures fell....
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A summary of macro investment performance since 2011 underscores Bitcoin as the ultimate winning punt. Bitcoin (BTC) is “eating the world” thanks to 10-year returns of over 6,200,000% and annualized returns of roughly 200% per year, investment strategist Raoul Pal has said.In a tweet on Dec. 15, Pal revisited his oft-quoted phrase as new data showed the extent of Bitcoin’s outperforming of major assets.Bitcoin record profits laid bareAs noted by Charlie Bilello, founder and CEO of Compound Capital Advisors, a Bitcoin investment made in 2011 has delivered returns of 6,271,233%. Nothing has....
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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned that governments could “squash” bitcoin in an inflationary crisis. Expecting more massive stimulus from the government, he said to “prepare for inflation.” Michael Burry Shares His View on Bitcoin American investor Michael Burry has warned that governments could “squash” bitcoin and even gold to protect their own currencies. Burry founded hedge fund Scion Capital and is best known for being the first investor to foresee and profit from the U.S. subprime mortgage....
Ethereum has been closely tracking Bitcoin’s price action throughout the past couple of days This has caused it to see a notable selloff, with bulls and bears now reaching an impasse as it trades just above its crucial $380 support level A continued defense of this level is key if bulls want to fuel a move higher in the near-term One analyst is now noting that the cryptocurrency’s macro outlook is ultra-bullish despite the recent […]
Traders say BTC is following the expected trajectory, but several macroeconomic factors and geopolitical tensions remain a threat to Bitcoin hitting a new all-time high. After dropping below $45,000 on March 31, Bitcoin (BTC) surprised investors with a quicker-than-expected recovery to the $46,500 level.Data from Cointelegraph Markets Pro and TradingView shows that bears managed to drop BTC to an overnight low of $44,210 before bulls showed up in force to lift the price back above $46,500 by midday. BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying about the....