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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (166543)	12/30/2020 6:41:12 AM
From: Julius Wong	Respond to of 218614

Bitcoin: A look back at a breakthrough 2020 Dec. 30, 2020 5:33 AM ET Bitcoin USD (BTC-USD) By: Yoel Minkoff, SA News Editor 4 Comments The year kicked off with Bitcoin ( BTC-USD) above $7,000, and after a pullback in March due the coronavirus pandemic, the cryptocurrency didn't look back. Easy money policies: As people began to face quarantine and lockdowns, businesses went virtual and the cashless society thrived. Governments and central banks across the globe also began implementing unprecedented fiscal and monetary policy to slow the economic damage, but something else was happening in the crypto sphere. Inflation fears: While trillions of dollars were being pumped into the economy, the supply of new Bitcoin being released into circulation began to shrink. In May, the Bitcoin network reached a key technical event - Bitcoin's third halving - where miners running the Bitcoin software saw their rewards reduced by half, yet the community was still celebrating. They championed a decentralized digital asset, with a fixed supply, that was free from monetary inflation or government intervention. Availability: The summer of decentralized finance also took off, with billions of dollars being locked in DeFi projects, as people around the world began to lend, hedge or make structured bets using Ethereum smart contracts without the need of any financial middlemen. By October, PayPal and Venmo rolled out buy, hold and sell services for various cryptocurrencies, making them more accessible to retail users. Institutional interest: Faced with a declining dollar, MicroStrategy (NASDAQ: MSTR) CEO Michael Saylor became the face of companies looking to convert corporate treasuries into to digital gold when the business intelligence firm bought $475M worth of Bitcoin (it later bought another $650M). Square followed up by buying $50M worth of Bitcoin, while institutional investors began supporting the crypto, including Fidelity, BlackRock and Citigroup. All-time highs: After breaking through resistance at $20,000 in early December, Bitcoin kept going, taking out $25K, $26K, $27K and even $28K. In fact, Bitcoin has soared by nearly 300% in 2020, outperforming the combined gains of gold and the Dow Jones Industrial Average by a factor of 10. But with soaring popularity, the crypto could face also face a regulatory awakening. Coinbase ( COINB) has begun restricting trade in Ripple ( XRP-USD) following an SEC lawsuit.