if you need some quick cash for Christmas, here is your answer. in today, out next week, in the bank the following day.
Bitcoin Hits High of $19,850 as Doubters Become Believers -- Barrons.com 4:12 pm ET November 30, 2020 (Dow Jones) Print By Avi Salzman Bitcoin soared to an all-time high on Monday, hitting $19,850 in the morning before again slipping below $19,500 by the afternoon. It has nearly doubled in just the past two months. The cryptocurrency has been boosted by a flurry of endorsements from traditional investors, favorable government policies, and expanded access on investment apps, as Barron's noted this weekend. Even traditional investors who had long spurned or ignored Bitcoin have begun reconsidering. New buyers tend to view the digital asset as a hedge against currency devaluation at a time when governments have loosened monetary policy to deal with the coronavirus. It doesn't bother many bulls that Bitcoin remains mostly useless as a currency. Its role as an asset appears to be enough. Scott Minerd, the global chief investment officer at Guggenheim, appears to be warming to Bitcoin. The Guggenheim Macro Opportunities Fund (ticker: GIOAX), with more than $5 billion in assets under management, said in a regulatory filing that it may invest up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC), a stock-like security that tracks the price of Bitcoin. Bernstein analyst Inigo Fraser-Jenkins, co-head of the portfolio strategy team, wrote on Monday: "I have changed my mind about Bitcoin's role in asset allocation. In January 2018 we declared that it had no such role. But actually, maybe we have to admit it does. What has changed is the policy environment, debt levels and diversification options for investors post the pandemic." One reason that analysts are changing their minds about Bitcoin is that it may serve to balance portfolio exposure for some investors. Stocks are trading at high valuations, so it makes sense to hedge exposure to them. But bonds and Treasuries have also rallied, and are trading with such low yields that there's not much reward for the risk that investors are taking on. Gold has also risen in recent months and is trading near a 50-year high relative valuation to other commodities, according to Jim Paulsen, the chief investment strategist at the Leuthold Group. Paulsen recommended on Monday that clients consider Bitcoin as a way to balance their portfolios. He is impressed with how uncorrelated it has been to other assets -- both stocks and things like bonds and gold. "The thing is, Bitcoin has risks, but today, so do most of the other balanced portfolio alternatives," he wrote. He explained more in a follow-up email to Barron's. "I still don't really understand what drives Bitcoin but I am finally willing to recognize that its short history yields some beneficial attributes which I can't find elsewhere," Paulsen wrote. "And, unlike other balance possibilities, I am not looking to 'buy and hold' Bitcoin (would need to understand it better to do that), but rather looking to exploit its excessive volume in order to improve the workings of a traditional balanced portfolio in a way which is not possible if utilizing only traditional assets. My point essentially is that I am not really attracted per se to Bitcoin fundamentally, but rather only its 'interactive' character (including its unique excessive volatility) with stocks and other traditional assets." Write to Avi Salzman at [email protected] (END) Dow Jones Newswires November 30, 2020 16:12 ET (21:12 GMT) Copyright (c) 2020 Dow Jones & Company, Inc.
You will see new highs this year and next year. Just getting started once it passes $20,000. Key point to pass will be $22,000 then just like when people thought the DOW was way too high at 20,000 only to watch it shoot up to 30,000 after is what we will see here with Bitcoin as well. There are only so many coins available and that is something to keep in mind. Last drop was due to China bust of $4 Billion and once that got digested it continued its way up this week
WeBull is now offering crypto trading, limited to Litecoin,Ethereum,Bitcoin, and Bitcoin Cash for the time being. I think I'll dip my toe in this market after a bit of research.
Bitcoin Goes Bonkers Thu, Dec 17, 2020 Whether you want to call it a textbook breakout or a blow-off top, the move in bitcoin over the last two days has been something to behold. Think about it this way. In the last two days, bitcoin's price has risen by $3,926 or roughly 20%. That's a pretty incredible move even for bitcoin, but it's even crazier when you consider the fact that at its intraday low in March, bitcoin's price ($3,914.7) was lower than the gain in the last two trading days! With bitcoin's surge in the last two days, the ratio between bitcoin and gold is also making a run for its record high back in late 2017. At current prices, one bitcoin will buy you 12.3 ounces of gold. That's still 2.5 ounces below the record high, but as recently as last Friday (12/11), the ratio was less than 10.
Great call here @internationalstocks you absolutely crushed that call from back at the beginning of this month! Also is really good seeing you on the forums again!
40k ... Bitcoin still trades like a penny stock Plenty of 50% drops in the past, this next one will be a $20,000 drop.
Bitcoin tops $40,000 for first time, pushing cryptocurrency market value past $1 trillion https://www.cnbc.com/2021/01/07/bitcoin-btc-rally-extends-price-hits-record-high-above-37700.html Why not have some fun while it lasts?
not done yet lol. past 41k now as of this early AM... does this have legs to 50k, before the inevitable rug pull?
UPDATE 1-Bitcoin jumps 10% to record high on Tesla investment news ByReuters Staff 1 MIN READ (Adds details, background) LONDON, Feb 8 (Reuters) - Bitcoin jumped more than 10% on Monday to a record high after Tesla said it had invested $1.5 billion in the most popular cryptocurrency last month. The news sent Bitcoin soaring as high as $43,625 as of 1300 GMT. Smaller cryptocurrencies including ethereum and XRP that tend to move in tandem with bitcoin also jumped, rising as much as 5% and 4% respectively. The electric carmaker unveiled the investment ten days after its chief executive Elon Musk drove up the cryptocurrency’s price by adding a “#bitcoin” tag on his Twitter profile page. Musk removed the tag from his Twitter bio a few days later but has continued talking up bitcoin and other cryptocurrencies, in particular, dogecoin, to his 46 million Twitter followers. In December, he had mooted the possibility of converting “large transactions” of Tesla’s balance sheet into bitcoin. Bitcoin is up almost 50% this year following gains of over 300% in 2020.
Are we over that 50K yet? Looks like the futes have already printed. Any guesses on the next stop until the next inevitable rug pull?
looks like that 50k did finally print during the overnight. i know i was calling for it after that last major pullback, but shit i honestly did not think it was gonna happen this quickly lmao.
