Warren Buffett is the same person who once loathed the idea of owning gold or Bitcoin. The legendary investor trashed the precious metal back in 2000 by calling it an unproductive asset.
Bitcoin lately surged back towards $12,000, a mighty level that last reacted very violently to the cryptocurrency’s bullish advances and crashed its price by $1,500. Last week, Bitcoin attempted to break the level all over again. It briefly managed to do so before plunging all over again. Only this time, the correction was less severe,…
Bitcoin this week broke up its three-month-old relationship with the US stocks. The hottest cryptocurrency is now dating gold. A rebound relationship ensues. In non-Woody Allen’s terms, the short-term correlation between Bitcoin and the S&P 500 plunged this week – from 78.8 percent two weeks ago to 42 percent. At the same time, the cryptocurrency’s proximity with…
It’s only halftime, and Bitcoin is leading the financial crisis sentiment by 1-0.
Predicting Bitcoin price is no less than looking into a crystal ball. As the cryptocurrency leaves behind a trail of endless bullish and bearish fractals, it gives traders a grain of data to predict its next trend.
If Bitcoin is a Stark, then the month of March was its Red Wedding episode.
Last week, Renaissance Technologies’ Medallion announced that it would allocate a specific portion of its portfolio to Bitcoin. The $75 billion hedge fund made no fuss about the amount of its exposure but merely indicated that it is interested in exploring the nascent cryptocurrency.