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

To: marcher who wrote (167428)

1/21/2021 7:21:15 PM

From: TobagoJack

Respond to of 218430

It turns out that Message 33157112 the GBTC trading at discount to BTC was due to 'insider' information re how the bitdirt was judged to be trading on the crypto exchanges

bloomberg.com

Bitcoin Drops Close to $30,000 Mark as Head-Turning Rally Stalls

Olivia Raimonde
22 January 2021, 07:59 GMT+8
Bitcoin neared the closely watched price threshold of $30,000 as it continues to retreat from the record highs reached during a furious rally over the past two months.

The world’s largest cryptocurrency traded at about $31,350 in Asia on Friday, after a slide of almost 11% a day earlier. Commentators have cautioned that a sustained drop below $30,000 could presages further losses in the wake of last year’s 300% surge.

“This level looks very vulnerable and a break below it is bad news in the near-term for Bitcoin and cryptos in general,” Craig Erlam, senior market analyst at Oanda Europe, wrote in a note Thursday. “I wouldn’t be surprised to see a test of $20,000 before too long.”

Bitcoin has seen a stellar rally as prices more than doubled after passing $20,000 for the first time in December. It broke above $30,000 in early January before peaking close to $42,000. Volatility then picked up as the digital asset tumbled.

The crypto boom has proved controversial, cheered on the one hand by believers who see Bitcoin becoming a more mainstream investment, but decried by others that see little more than speculative mania.

Grayscale Investments, which is behind a popular Bitcoin trust, saw total inflowsof more than $3 billion across its products in the fourth quarter. Just this week, BlackRock Inc. dipped its toe into the crypto universe for the first time, saying cash-settled Bitcoin futures are among assets that two funds were permitted to buy.

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