Another reason for Bitcoin's rise is the growing inflation of the U.S. dollar. While inflation is on average 2% each year, recent stimulus spending is poised to greatly.
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- The inflation hedge
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- Why Is Bitcoin Going Up, and Will It Crash Soon? What’s Next as Price Doubles to $40K
- Elon Musk's Tesla buys $1.5bn of Bitcoin causing currency to spike
The inflation hedge
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Abc Large. ET Spotlight Special. The cryptocurrency market has continued to witness a boom despite the global pandemic wreaking havoc on all significant economies on the planet.
Many crypto startups have emerged in the space during this pandemic to cater to the ever-increasing demand for Bitcoin and alike cryptocurrencies. Read More News on bitcoin price cryptocurrency covid 19 cryptocurrencies market Cryptocurrency's Price bitcoin Bitcoin currency. Also, ETMarkets. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.
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Such an amazing article. Thank You. Ajit Grewal 43 days ago.
Why Is Bitcoin Going Up, and Will It Crash Soon? What’s Next as Price Doubles to $40K
If it does not wish to be annihilated in the next election. Winston Saga 43 days ago. Guaranteed win. These 3 parties are not corrupt. Tamils hate corruption. Every other party is corrupt.
View Comments Add Comments. Logistics A two-horse race: Ecom Express is now flush with private-equity money.
Elon Musk's Tesla buys $1.5bn of Bitcoin causing currency to spike
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This will alert our moderators to take action Name Reason for reporting: Foul language Slanderous Inciting hatred against a certain community Others. Your Reason has been Reported to the admin. Fill in your details: Will be displayed Will not be displayed Will be displayed. Share this Comment: Post to Twitter. I am finding it indispensable. Meanwhile I am now back in the same position as I was before I sold the bitcoin, of hanging onto my positions by my cuticles with a wildly undiversified and unbalanced portfolio that morphs by the day into a gloriously profitable but unmanageable series of extremely volatile positions.
Here is one of my favorites that I hold and you can see why an old school equity guy, a value investor to boot, gets a nose bleed from this kind of price ascent:. Matic, previously called polygon, is not a one-off, it is just a good example. To me, I believe these price levels are the upper faces of this mountainous cycle, but many still consider them the foothills. So what can help us know where we are? The all-seeing eye of Google can help.
Here is a chart from Google Trends:. Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved. Bitcoin is the leader and definer of this cycle and its performance will direct the performance of all the other cryptos. Volatility is liable to shake me out soon, but it could be days or weeks, perhaps even months before it does — but a week is now a long time in crypto and that in itself is a signal which one can choose to pay attention to.
The final indicator is transaction fees. These are now exorbitant. When they start to fall it will be a signal that the FOMO is falling and for now the only way transaction fees are going is skywards. While I have to rise at a. Institutional Press Awards in In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: ways to pick stock market winners.