bitcoin outlook – pressnews

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

3Dec

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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...

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

28Nov

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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...

Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX

23Nov

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Technology

Bitcoin’s Crystal Ball Has a $5,000-to-$1 Million Range Post-FTX

[ad_1] Pick a number and cross your fingers. Crypto naysayers who argue that’s the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector. Pick a number and cross your fingers. Crypto naysayers who argue that's the essence of Bitcoin prognostication are likely finding validation in the thick uncertainty shrouding the sector.Over the past few days, long-term targets for the world's largest token by market value have ranged from $5,000 at strategists BCA Research Inc. to $1 million by 2030 for Ark Investment Management's Cathie Wood. The cavernous spread reflects the gnarly question of what further contagion may or may not lie ahead following the evisceration of Sam Bankman-Fried's FTX exchange and trading house Alameda Research, ...

Bitcoin Split From Global Markets to Slide All on its Own

14Nov

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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...