Ark Invest’s Cathie Wood isn’t shy about making bold predictions. Yesterday Wood forecasted Bitcoin to hit $1M by 2030. That would be a 60x increase from its current price of ~$16.5K. Here’s a collection of Wood’s famous calls: 1/ Tesla (NASDAQ:TSLA) to hit $4,600 by 2026 (~$1,533 adjusted for Tesla’s recent stock split). $TSLA is…
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Ethereum outshines Bitcoin as the Merge approaches
Bitcoin’s feeling a bit left out with investors focused on Ethereum ($ETH), outperforming Bitcoin ($BTC) in 2022. This week, Bitcoin briefly traded below $19,000, bringing it closer to its $17,600 low in June. Bitcoin isn’t getting an upgrade… Ethereum is. In recent months, attention has shifted towards Ethereum’s upcoming network upgrade, The Merge. Over the…
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ProShares bets against Bitcoin with ETF launch
Today, ProShares is launching the first U.S. listed exchange-traded fund (ETF) that lets investors bet against Bitcoin — to be listed on the New York Stock Exchange under the ticker $BITI. But don’t take this as a cause for a celebration… Late arrival: ETF issuers haven’t had the best track record with industry-specific thematic ETFs….
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Bitcoin is behaving very differently this cycle
In Bitcoin’s 13-year existence, as long as you held your Bitcoin for four years, you’d be up on your investment — a seemingly random number that investors can thank the Bitcoin halving cycle for. But 2022 is not like any other year… Approximately every four years, the amount of Bitcoin rewarded to Bitcoin miners is…
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Bitcoin miners are bundling up for the crypto winter
With a crypto winter in full force, Bitcoin miners are finding themselves in a tough spot. Falling Bitcoin prices are dragging down earnings — and economic conditions haven’t made it any easier on them. How are miners doing? Many Bitcoin miners went public in recent years — taking advantage of the last crypto bull market….
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Market outlook: Bitcoin heads in the wrong direction
If you’re losing money on Bitcoin, just know that you’re not alone. According to Glassnode, 40% of Bitcoin holders are losing money. Bitcoin is down 55% from its all-time highs — which isn’t even close to its worst drawdowns. In 2015, 2018 and 2020 — $BTC fell between 77-86%. The good news: BTC made new…
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Spot Bitcoin ETF is the catalyst crypto investors need
A spot Bitcoin ETF would be an “inflection point” with crypto adoption — and a potential catalyst for $BTC’s price. Getting one approved has been challenging, but recent developments are getting crypto execs excited. No one likes a futures-based Bitcoin ETF Futures-based Bitcoin ETFs can cost investors an extra 5-10% compared to holding Bitcoin directly….
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Ethereum challenges Bitcoin for the top crypto spot
Bitcoin supporters (a.k.a maximalists) made bold predictions for Bitcoin ($BTC) to reach $100K by the end of 2021. Instead, it reached a high of $69K before finishing the year at $47K — up 49% in 2021. Will 2022 be the year it breaks $100K? What’s the big deal? Bitcoin had one of its worst performance…
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India has big plans for crypto and it involves less of it
India, the world’s second-largest population, plans to introduce a bill banning all private cryptocurrencies aside from “certain exceptions”. What’s the big deal? The world is split on cryptocurrency regulations — but many are starting to choose sides. India flip-flopped between banning crypto in 2018 to backtracking on the decision in 2020. The redrafted bill shows…
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Beware of financial advisors pumping Bitcoin to clients
The recent launch of US Bitcoin ETFs is opening a floodgate of demand from one group of investors — financial advisors. Before, advisors buying Bitcoin for clients required going through several regulatory hurdles — a tedious process. After the launch of the recent Bitcoin ETFs, advisors can offer crypto to clients more easily. Last week,…
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