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Thirty five thousand dollar holler $BTC
Bitcoin rivals gold, as JP Morgan predicts its price may climb as high as 146,000
By
Wolf Daily Staff
January 5, 2021
Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday.
Interest in the world’s biggest cryptocurrency has soared this year, with investors viewing bitcoin as a hedge against inflation and an alternative to the depreciating dollar. The rush led to bitcoin prices more than tripling in the past six months to a record peak of $34,800 on Jan. 2.
“Bitcoin’s competition with gold has already started in our mind,” the Wall Street bank’s strategists said in a note, citing recent $7 billion outflows from gold and more than $3 billion of inflows into the Grayscale Bitcoin Trust.
That could mark a new dawn for the volatile digital currency after years as a play for speculators and retail punters.
“Considering how big the financial investment into gold is, a crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term,” JPM said.
Bitcoin is likely to outshine gold as millennials become a more important component of the investment market over time and given their preference for “digital gold” over traditional bullion, JPM added.
With a market capitalization of $575 billion, the bitcoin price would need a nearly fivefold jump to $146,000 to match the value of private gold wealth held in gold bars, coins or exchange-traded funds, the bank’s note added.
JPM strategists said the upside is conditional on the volatility of bitcoin converging with that of gold in the longer term.
Though JPM sees the possibility of “current speculative mania” propelling bitcoin to between $50,000 and $100,000, it warned that such levels would prove unsustainable until its volatility levels out.
“We note that the spectacular bitcoin rally of the past few weeks has moved bitcoin into more challenging territory, not only in terms of its positioning backdrop, but also in terms of its valuation,” the bank said.
CVC shortage send it to $5.25+
Civic technologies is used in
#1 COVID19 Apple tracker app!!!
OMG!!! WE RICH!!!!
MOASS and FOMO KICKING IN!!!
$REN $283m market cap. $REN owns 9000 $BTC now worth $282m. $REN is undervalued currently it seems.
Wowza. Thirty one thousand dollar holler $$$ $BTC $$$
After Institutional Investors Hoard, Just 22% of Bitcoin is Left for Traders
A new report says that 78% of Bitcoin is out of circulation. But this is a good thing.
By Mathew Di Salvo
Most Bitcoin is illiquid—78% of it—and this is driving the current bull run, according to a new report.
Bitcoin “liquidity” refers to how much of the asset is in circulation. According to findings published yesterday by blockchain analysis company Glassnode, only 4.2 million Bitcoin (22%) are currently available to buy and sell.
The report says that there is a shortage of Bitcoin because it’s being snapped up by big investors. This trend is making the currency more expensive.
“If many bitcoins are illiquid, a supply-side crisis emerges—which has a weakening effect on BTC's selling pressure in the market,” Glassnode says. “Or put differently: A sustained rise of illiquid bitcoins is an indication of strong investor hodling sentiment and a potentially bullish signal.”
The report notes that long-term investors holding the cryptocurrency removes it from circulation. 2020 has been the year big companies have entered the crypto space—especially business intelligence firm MicroStrategy—and they are buying up Bitcoin and holding it as a long-term investment.
These companies aren’t likely to sell, according to Glassnode, and this is causing the current bull market. In fact, this year alone, “more than 1 million BTC has become illiquid,” the report says.
But is this a good thing? What does it mean for the average investor? Pedro Febrero, an analyst at Quantum Economics, told Decrypt that Glassnode’s findings were “superb news.”
“Essentially, when the supply of bitcoin is suppressed, price has a tendency to rise, given that demand either stays equal or increases,” he said.
“And we know for sure that demand is indeed increasing. If only 22% of all Bitcoin are in circulation, and wealthy individuals keep acquiring Bitcoin, there is no telling how high the price may go.”
A shortage of the cryptocurrency isn’t necessarily a bad thing: it will never disappear.
The report adds that Bitcoin liquidity and the price of the currency go hand in hand—and if things keep going the way they’ve been going this year, the price will only continue to rise.
So there we have it: less Bitcoin is more.
$29k onward and upward $$ $ BTC $$$
$REN currently #1 mover on Coinbase- up 25%
Let’s see where it goes from here. It’s been up and down. $REN has been trading between .24 and .33 for a few weeks now.
Good job man. Missed this run. Maybe can catch it soon.
$REN has potential- and the price is right $$
Mos def buy some as integrates with filecoin !!
https://medium.com/renproject/the-defi-bridge-integrates-renvm-d3ada4903914
Current pricing seems like a deal to me. Time will tell $REN
Ill try to grab some after first of year.
Made one good move to $.50 so far. Ready for another $$
Sure thing
Impressive 52 week range ihub has listed.
Good info. Tks
$REN Bitcoins owned 9000 = $238.5m. $REN $232m market cap.
$Ren has grown rapidly in popularity in the world of DeFi through its renBTC cross-chain bridge, which uses smart contracts to secure cross-chain transfers
$REN market cap $227m - amount of bitcoin $REN owns worth $235m now
$REN still bargain pricing-> market cap $235m - $REN owns 9k bitcoin Worth $220m currently.
$REN has over $200m in bitcoin and market cap is $230m. Current bargain pricing.
Twenty three thousand dollar holler $BTC
$REN stuck in the water. Only up 3% compared to bitcoin’s 9%
$BTC cooking with gas. Twenty one thousand dollar holler $$
Twenty thousand dollar holler $BTC
$BITCOIN to $20k and beyond $$
$REN looking good. $20k+ soon is my guess for $BTC
$20k target for $BTC today and back to $.40 for $REN today
$REN was looking good @ .40
$19.2 thousand dollar holler. $BTC
$BTC nineteen thousand dollar holler $$
A Massive Honeypot: Ren Holds $100M in Bitcoin in Centralized Wallet
The team behind cross-chain liquidity protocol RenVM controls all of the user Bitcoin contained in the project’s single wallet, worth more than $100 million.
Bitcoin will surge to $1 million in 5 years by an 'enormous wall of money,' former Goldman Sachs hedge-fund chief says.
Oct. 15, 2020, 04:24 AM
https://markets.businessinsider.com/currencies/news/bitcoin-hit-million-five-years-ex-goldman-hedge-fund-boss-2020-10-1029682590
Eighteen thousand dollar holler $BTC
Seventeen thousand dollar holler $BTC
Sixteen thousand dollar holler $BTC
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