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Showing posts with the label Bitcoin Analysis.

Bitcoin Analysis: Bitcoin Is ‘Worthless,’ Hedge Fund Billionaire Says

 Source:  barrons.com 7-9 minutes Cryptocurrencies won’t be the next “Big Short” even though they are “worthless,” says a hedge fund manager who made billions betting against the U.S. housing market more than a decade ago. In an interview with Carlyle Group founder David Rubenstein, John Paulson claimed that cryptocurrencies are a bubble . But he also acknowledged that he’s not shorting them. Smart short sellers need to know what they can make and what they can lose on a bearish bet. When Paulson bet against complex mortgage bonds, his downside was limited to a few percentage points if the bonds paid off. His upside was, essentially, 100% if the bond defaulted. That’s not the case with Bitcoin. Bitcoin has gone from less than $12,000 a year ago, to almost $50,000 today , while Dogecoin, a crypto favorite of Tesla CEO Elon Musk, is up more than 8,000% over the past year. Those are big enough moves to wipe out any short seller. “There’s unlimite

Al Jazeera Bitcoin Surge Analysis: Bitcoin soars on hopes of wider acceptance

Source:  aljazeera.com Al Jazeera 3 minutes The surge came on the heels of positive comments from Elon Musk as well as on news of potential use by Amazon, Twitter. Cryptocurrencies popped to the top of recent ranges as short-sellers bailed out in the wake of a strong week and traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment. Bitcoin rose Monday as far as 12.5 percent to hit $39,850 – its highest since mid-June – during the Asia session, while ether hit a three-week peak of $2,344. On the heels of Bitcoin’s best week in almost three months, the move put the squeeze on short-sellers. Last week, cryptocurrency enthusiast and Tesla boss Elon Musk said the carmaker would likely resume accepting Bitcoin once it conducts due diligence on its energy use. It had suspended such payments in May, contributing to a sharp crypto selloff. Twitter boss Jack Dorsey al

Bitcoin Analysis: Bitcoin Price Nears 2013 Record.

  Source:   independent.co.uk 4-5 minutes Bitcoin continues to trade within an uncharacteristically narrow price band, having failed to fall below $31,000 or break above $36,000 throughout July 2021. The cryptocurrency starts the week at the lower end of that range, spending the weekend bouncing between $31k-$32k. It has helped usher in a period of relative stability for the broader crypto market, with Ethereum (ether), Cardano (ada), Binance Coin and Ripple (XRP) all avoiding any wild price swings on Monday. Analysts and experts remain divided over which way the market is heading from here. A market-wide crash throughout May and June is being labelled by some as a blip within a long-term bull market, while others fear it could be the beginning of a so-called crypto winter. Among the more positive forecasts is billionaire investor Tim Draper, who this week stuck by his $250k price forecast for next year. You can fol

Bitcoin Analysis: Bitcoin boosted by major announcement from Twitter boss – follow live

  Source:  independent.co.uk 10-13 minutes Bitcoin continues to trade within a relatively narrow band on Friday, despite a price slide in recent days. The cryptocurrency dropped from above $34,000 at the start of the week to below $32,000, remaining within the $30,000 to $36,000 region that it has sat throughout July. The broader crypto market is largely stable, with no major moves in either direction over the last 24 hours. Ethereum (ether) is down 3 per cent, while Binance Coin is up 1 per cent since Thursday, according to CoinMarketCap’s price index. Analysts predict a big move could be on its way, pointing to several market indicators that suggest a short term break out within the next couple of days. In other news, Twitter boss Jack Dorsey has announced a new company aimed at decentralised finance and focussing on bitcoin. You can follow all the latest news, analysis and expert price predictions right here. 28 min