Is bitcoin back?
You might be tired of that question every time the cryptocurrency shows signs of life. But this time around there's reason to believe the momentum around bitcoin could be maintained.
Phil Rosen has a full rundown on all the factors pushing bitcoin close to all-time highs.
Just because bitcoin is up doesn't mean everyone in the crypto industry will benefit. One notable difference this time around is the number of traditional players who have pushed into the space, which could pose issues for younger, crypto-native companies.
For more on that, along with other top stories, read more on Business Insider.
#bitcoin#btc#cryptocurrency#crypto#tech
https://lnkd.in/dX7nXwbP, major hacks, and shifting investor sentiment have all played a role in shaking the foundations of the crypto market. As Bitcoin and Ethereum face unprecedented challenges, many investors are questioning the future of these digital assets. Can they recover, or are we witnessing the end of an era? Read more to explore the potential outcomes and what it means for the future of cryptocurrency. #CryptoCrash#Bitcoin#Ethereum#CryptoNews
I’m the CEO of Punks & Pinstripes, a community for business punks. I'm also a speaker and advisor | ex-Bloomberg, Google, PWC | Dad, Husband, Punk. I aspire to be the Anthony Bourdain of business, but happier.
OK, I'm about to unload a few buckets of cold water on the resurgence of #bitcoin . The media has massively $hat the bed about the resurgence of bitcoin, and I'm about to make an example of Dan DeFrancesco, who is a smart, insightful, solid dude. Apologies in advance... It's done out of love. Tom Goodwin raised the same question the other day, (he's also a superstar) showing that #bitcoin has touched its pre-crash high.
The question should be: is Bitcoin useful? Prices of bull$hit assets like WeWork, bitcoin, subprime mortgages, and tulips rise, fall, and rise again all the time.
When you have a second at-bat as a journalist (or analyst)covering an asset that was an overhyped mania in the first place, the question should be is this another rebound in speculation? Or is there newfound underlying value?
The answer with bitcoin is that it has no new value. It has been bundled into a respectable #etf , making it more accessible to more suckers, with the tacit endorsement of stalwarts and like Fidelity Investments and BlackRock. This is basically the same megatrend as #SPACS, and subprime mortgage backed securities. Garbage bundled into a wood-paneled, smoke-filled, Wall Street old boys club, is still garbage. I guarantee you that the gentlemen (and possibly some ladies) who run Fidelity and Blackrock aren't betting their retirement on #crypto, and probably don't own any. They're just making money from the poor schmucks who are buying it from them.
Fundamentally, #bitcoin is useful to an extremely limited group of people. These people are:
- drug dealers who would like to accept payments digitally, rather than in duffel bags of cash.
- People trying to move money across borders without detection. (some of whom may be drug dealers)
- Tax evaders
- Rogue dictatorships like North Korea who need some currency to buy stuff from other countries.
- A girls school in Afghanistan (or equivalent) which needs to collect funds from donors without being detected by the Taliban (or equivalent).
The rest is entirely speculation wrapped in a cloak of libertarian #tech utopianism. Black Rock and Fidelity just wrapped a second cashmere, finely tailored Wall Street cloak over the tattered base-layer cloak.
Is bitcoin back?
You might be tired of that question every time the cryptocurrency shows signs of life. But this time around there's reason to believe the momentum around bitcoin could be maintained.
Phil Rosen has a full rundown on all the factors pushing bitcoin close to all-time highs.
Just because bitcoin is up doesn't mean everyone in the crypto industry will benefit. One notable difference this time around is the number of traditional players who have pushed into the space, which could pose issues for younger, crypto-native companies.
For more on that, along with other top stories, read more on Business Insider.
#bitcoin#btc#cryptocurrency#crypto#tech
https://lnkd.in/dkeBsSjU, major hacks, and shifting investor sentiment have all played a role in shaking the foundations of the crypto market. As Bitcoin and Ethereum face unprecedented challenges, many investors are questioning the future of these digital assets. Can they recover, or are we witnessing the end of an era? Read more to explore the potential outcomes and what it means for the future of cryptocurrency. #CryptoCrash#Bitcoin#Ethereum#CryptoNews
𝗦𝗵𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝘁𝗿𝘂𝘀𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗽𝗿𝗶𝗰𝗲 𝗽𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀?
𝘞𝘪𝘵𝘩 𝘦𝘹𝘱𝘦𝘳𝘵𝘴 𝘧𝘰𝘳𝘦𝘤𝘢𝘴𝘵𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘧𝘳𝘰𝘮 $20,000 𝘵𝘰 $200,000, 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘮𝘢𝘺 𝘣𝘦 𝘵𝘰𝘰 𝘷𝘰𝘭𝘢𝘵𝘪𝘭𝘦 𝘵𝘰 𝘱𝘳𝘦𝘥𝘪𝘤𝘵
Every cryptocurrency milestone invites speculation, and Bitcoin’s latest rally is no exception. As prices push to new highs, the usual predictions abound: $100,000, $150,000, or even a lofty $250,000.
But as past forecasts show, the reality of Bitcoin’s price rarely matches the rhetoric. Should anyone really trust these predictions?
Read the full article 👇
THE CRYPTO RADIO | #Bitcoin | #CryptoPrediction | #Cryptonews | #Crypto | written by Joanna Buenconsejo, RPm
Crypto CMO | From Traditional Finance to Crypto | Member of the Crypto Valley Association
2wWhat is the role Joe Hutton