Tag: bitcoin forecast

Bitcoin Set for More Losses in Wake of FTX’s Collapse if History Is a Guide
3Dec By adminNo Comments
Technology

Bitcoin Set for More Losses in Wake of FTX’s Collapse if History Is a Guide

[ad_1] A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. A seasonal cryptocurrency pattern points to more losses for Bitcoin in December in the wake of the seismic collapse of the FTX exchange. The largest token sank 16% in November and over the past decade it always went on to have a weak December following declines in the prior month, according to data compiled by Bloomberg. The pattern was evident in 2018, 2019 and 2021, leaving an average December slide of almost 11%. If history repeats, crypto may lag stocks given heightened expectations for this quarter's equity rebound to continue in the run-up to Christmas as the Federal Reserves swivels to smaller interest-rate hikes. “The digital as...
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Novogratz Drops Forecast for Bitcoin to Hit $500,000 In 5 Years
2Dec By adminNo Comments
Technology

Novogratz Drops Forecast for Bitcoin to Hit $500,000 In 5 Years

[ad_1] Crypto advocate Mike Novogratz dropped his forecast for Bitcoin to climb to $500,000 in five years, citing the Federal Reserve’s interest rate increases. Crypto advocate Mike Novogratz dropped his forecast for Bitcoin to climb to $500,000 in five years, citing the Federal Reserve's interest rate increases.It will, but “not in five years,” Novogratz said Thursday during an interview on Bloomberg Television. The biggest change that happened is that Fed Chair Jerome Powell found “his central banking superpowers.” Like most risk assets, Bitcoin has slumped this year because the Fed is raising rates to contain inflation, Novogratz, the chief executive of Galaxy Digital, said. Bitcoin has tumbled more than 60% this year, dropping to around $17,000. Fallout from the bankruptcy of the ...
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Mark Mobius Sees Bitcoin Down at $10,000 in ‘Dangerous’ Crypto Market
28Nov By adminNo Comments
Technology

Mark Mobius Sees Bitcoin Down at $10,000 in ‘Dangerous’ Crypto Market

[ad_1] The crypto rout has room to run, according to veteran fund manager Mark Mobius. The crypto rout has room to run, according to veteran fund manager Mark Mobius. The co-founder of Mobius Capital Partners LLP said in an interview Monday in Singapore that his next target for Bitcoin is $10,000. He added he wouldn't invest his own cash or client money in digital assets as “it's too dangerous.” “But crypto is here to stay as there are several investors who still have faith in it,” said Mobius, who spent more than three decades at Franklin Templeton Investments. “It's amazing how Bitcoin prices have held up” despite the FTX fallout, he added. The chaotic slide into bankruptcy of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research is hanging over the digit...
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Bitcoin Split From Global Markets to Slide All on its Own
14Nov By adminNo Comments
Technology

Bitcoin Split From Global Markets to Slide All on its Own

[ad_1] Bitcoin dropped 23% last week, its worst tumble since June, at the same time as the S&P 500 Index soared 5.9%. The distress spread across cryptocurrencies by the meltdown of Sam Bankman-Fried's FTX is fracturing the link the tokens once had with other financial assets, a sign that Bitcoin's influence on global markets may be diminishing.Bitcoin dropped 23% last week, its worst tumble since June, at the same time as the S&P 500 Index soared 5.9%. That helped weaken the correlation between the two to the lowest this year, based on a 20-day study. The performance gap between Bitcoin and the Nasdaq has hit the widest since 2020.  And while major cryptocurrencies turned higher Monday, the gains did little to lift broader market sentiment damped by comments from Federal Reser...
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