Bitcoin News Today – Headlines for December 16
发布时间：2019-12-17 09:26:16 发布人：TokenString
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Bitcoin’s price is still up by almost 100 percent this year despite losing 50 percent of its value since June
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Cryptocurrency critics released more bearish predictions for Bitcoin
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The bull run is just starting for Bitcoin – Philip Swift
Bitcoin News Today – The second half of this year has not been favorable to Bitcoin (BTC). Since the end of June, the world’s largest digital currency by market cap has been heading south. Bitcoin has lost about 50 percent of its value since the end of June, as it is now trading at $7k after hitting a year-to-date high of $14,000.
Cryptocurrency Critics Expect Bitcoin to Plunge Further
This massive decline has made many digital currency critics carousal. A prominent hedge fund manager – Mark Dow – wrote last month that he entirely expects BTC to ‘die a grinding death, punctuated by FOMO and spoofs spasms of decreasing frequency and intensity.’
Peter Schiff, a prominent libertarian investor, also said that he expects the price of Bitcoin to fall to $1k, then lower, with time. However, it seems that Dow, Schiff, and other crypto critics are forgetting one thing: the price of Bitcoin is still up on the year, 2019, not down.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$6,895.65
-2.55%
Bitcoin’s Price Is Still Up by Almost 100 Percent This Year
As pointed out by Charlie Bilello – financial investor and writer – the price of Bitcoin (BTC), as of Dec. 7, is still up by 96 percent this year. This outpaces any other asset class. The Nasdaq 100, which has recorded enormous growth this year after crashing in Q4 of 2018, is up by 34 percent this year. Investment-grade bonds are up by about 17 percent, while real estate investment trusts, as an index by Vanguard, are up by 28 percent.
This means that regardless of the 50 percent crash from the beginning of this year, Bitcoin (BTC) and other digital currencies are still the best mainstream asset class of the year. This means that cryptos are far from ‘dead’ or ‘dying.’
The Bull Run Is Just Starting for Bitcoin
According to a recent report, Philip Swift – a digital currency analyst – pointed out in a recent thread that there is a confluence of signs suggesting that the bull run is just starting for Bitcoin (BTC). The digital currency has been able to hold over the 350-day moving average. Bitcoin Network Momentum is beginning to bounce off traditional market levels, and the Golden Ratio Multiplier is suggesting that an explosive rally is right on the horizon.
Tom Lee also pointed out that the rally in equities will increase buying demand for BTC. He also drew attention to the forthcoming block reward halving and the fact that China is embracing blockchain technology as ways to validate his bullish outlook for 2020.
- Bitcoin’s price is still up by almost 100 percent this year despite losing 50 percent of its value since June
- Cryptocurrency critics released more bearish predictions for Bitcoin
- The bull run is just starting for Bitcoin – Philip Swift
Bitcoin News Today – The second half of this year has not been favorable to Bitcoin (BTC). Since the end of June, the world’s largest digital currency by market cap has been heading south. Bitcoin has lost about 50 percent of its value since the end of June, as it is now trading at $7k after hitting a year-to-date high of $14,000.
Cryptocurrency Critics Expect Bitcoin to Plunge Further
This massive decline has made many digital currency critics carousal. A prominent hedge fund manager – Mark Dow – wrote last month that he entirely expects BTC to ‘die a grinding death, punctuated by FOMO and spoofs spasms of decreasing frequency and intensity.’
Peter Schiff, a prominent libertarian investor, also said that he expects the price of Bitcoin to fall to $1k, then lower, with time. However, it seems that Dow, Schiff, and other crypto critics are forgetting one thing: the price of Bitcoin is still up on the year, 2019, not down.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$6,895.65 |
-2.55%
|
Bitcoin’s Price Is Still Up by Almost 100 Percent This Year
As pointed out by Charlie Bilello – financial investor and writer – the price of Bitcoin (BTC), as of Dec. 7, is still up by 96 percent this year. This outpaces any other asset class. The Nasdaq 100, which has recorded enormous growth this year after crashing in Q4 of 2018, is up by 34 percent this year. Investment-grade bonds are up by about 17 percent, while real estate investment trusts, as an index by Vanguard, are up by 28 percent.
This means that regardless of the 50 percent crash from the beginning of this year, Bitcoin (BTC) and other digital currencies are still the best mainstream asset class of the year. This means that cryptos are far from ‘dead’ or ‘dying.’
The Bull Run Is Just Starting for Bitcoin
According to a recent report, Philip Swift – a digital currency analyst – pointed out in a recent thread that there is a confluence of signs suggesting that the bull run is just starting for Bitcoin (BTC). The digital currency has been able to hold over the 350-day moving average. Bitcoin Network Momentum is beginning to bounce off traditional market levels, and the Golden Ratio Multiplier is suggesting that an explosive rally is right on the horizon.
Tom Lee also pointed out that the rally in equities will increase buying demand for BTC. He also drew attention to the forthcoming block reward halving and the fact that China is embracing blockchain technology as ways to validate his bullish outlook for 2020.
