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

To: Julius Wong who wrote (167246)	1/18/2021 5:54:41 PM
From: TobagoJack	Respond to of 217801

Re <<1. Satoshi Nakamoto is a genius. 2. I don't understand bitcoin, 3. I like to make some money in the bitcoin movement. 4. I put bitcoin price on my watch list. 5. I have a small amount (<10%) in bitcoin-related stocks. 6. I also like gold. Gold and Crypto My expert is Frank E. Holmes>> (1) likely true. (2) I do not know if I understand it or not (3) same, and we have (4) same, and the higher the better (5) same, MSTR (6) I do not like gold. I adore gold. Believe one fine day, but only as consolation, gold shall adore me. I wait. In the meantime I do not know why 40K is so important. 50K and 100K equally important :0) bloomberg.com Bitcoin Steady as Analysts Say Getting Back to $40,000 Is Key Joanna Ossinger 18 January 2021, 09:47 GMT+8 Want the lowdown on what's moving Asia’s markets in your inbox every morning? Sign up here. Bitcoin hovered near $36,000 on Monday, below a level that strategists at JPMorgan Chase & Co. see as an inflection point for the digital coin. The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon, a team including Nikolaos Panigirtzoglou said. The pattern of demand for Bitcoin futures and the $22.9 billion Grayscale Bitcoin Trust will help determine the outlook, they added. “The flow into the Grayscale Bitcoin Trust would likely need to sustain its $100 million per day pace over the coming days and weeks for such a breakout to occur,” the strategists wrote in a note on Friday. Traders seeking clues about investor appetite for risk have been gripped by Bitcoin’s stunning rally and turbulent 10% slide from a record of almost $42,000 on Jan. 8. The cryptocurrency boom since March has reflected the ebullience of financial markets awash in stimulus -- as well as concern over whether gains will ultimately prove fleeting. The JPMorgan strategists said Bitcoin was in a similar position in late November, except with $20,000 as the test. Flows of institutional investment into the Grayscale trust helped the world’s largest cryptocurrency extend its rally, they wrote. Trend-following traders “could propagate the past week’s correction” and “momentum signals will naturally decay from here up till the end of March” if Bitcoin’s price fails to break above $40,000, they said. Bitcoin fell 1.4% to $36,014 as of 3:25 p.m. in London on Monday. Exactly what’s driven the yearlong near-quadrupling in Bitcoin’s price remains murky. Commentators have cited day traders, wealthy buyers, hedge funds, companies and even signs of interest from long-term investors like insurers. ‘Dread to Think’Some, like Chris Iggo, remain skeptical of Bitcoin’s appeal to large institutions. “I dread to think what most risk officers would think about that being in a core investment portfolio,” the chief investment officer of core investments at Axa Investment Managers wrote in a note. “For assets to be considered in a long-term investment portfolio one should be able to attach some fundamental intrinsic value to them.” Bitcoin’s proponents argue it’s maturing as a hedge for dollar weakness and the possibility of faster inflation in a recovering global economy. Others say its defining characteristic remains speculative booms followed by busts. Read more: Does Bitcoin Boom Mean ‘Better Gold’ or Bigger Bubble? QuickTake — With assistance by Mark Cranfield, and Sebastian Boyd Before it's here, it's on the Bloomberg Terminal. LEARN MORE

To: Julius Wong who wrote (167246)

1/19/2021 7:09:29 AM

From: TobagoJack

Read Replies (2) | Respond to of 217801

Re <<too complicated>>

A simpler article ...

bloomberg.com

Bitcoin’s Turbulence Helps Kindle Rally in Largest Rival Ether
Eric Lam19 January 2021, 15:15 GMT+8
Shift follows Bitcoin’s drop from nearly $42,000 early January

Bitcoin’s recent wobbles have turned the cryptocurrency spotlight onto other digital coins including Ether, whose gain this year has outstripped the performance of its bigger rival.

The world’s largest cryptocurrency rose 2.5% to $37,154.02 at 9:58 a.m. in London after major gyrations earlier in January. The comparative calm of late may encourage crypto enthusiasts to chase the momentum in coins like Ether, which is up 87% in 2021 compared with Bitcoin’s 28% advance.

“Bitcoin has been in a range for the past few weeks, which gives time for capital to rotate” into other digital assets, said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.

Questions abound about the drivers of the parabolic surge in Bitcoin to almost $42,000 on Jan. 8 before a sharp pullback. A study by Bloomberg Economics suggests animal spirits account for the bulk of the move, while Bitcoin’s claimed role as a hedge against risks such as inflation is secondary.

A backdrop of stimulus to counter the impact of the pandemic remains a positive one for Bitcoin and other cryptocurrencies, according to Seamus Donoghue, vice president for sales and business development at digital infrastructure provider Metaco.

At the same time, JPMorgan Chase & Co. strategists have said $40,000 is a key level for Bitcoin, flagging the risk of a further drop unless it climbs back above that price soon. Bitcoin has declined 7% from the Jan. 8 record, raising the prospect of an exodus of speculative investors.

The Ethereum blockchain is popular for so-called decentralized finance and is also making progress toward a network upgrade. Commentators argue these trends have aided Ether.

Ether climbed as much as 13.3% and traded at about $1,382 as of 10:01 a.m. in London. The Bloomberg Galaxy Crypto Index added about 13%.

Read More

GLOBAL INSIGHT: What Drove Bitcoin $40K? Modelling the Factors

Bitcoin Is Unlike Any Other Bubble We’ve Seen So Far

Ethereum Becoming More Than Crypto Coder Darling, Grayscale Says

— With assistance by Mark Cranfield, and Joanna Ossinger

Sent from my iPhone