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After breaching a record-high of $58,000 last Sunday, bitcoin slid to $47,000 on Friday.
Despite regulatory uncertainty, three CEOs of money managers are still bullish.
They explain why bitcoin is still in its early stages and set to mature into a gold-like market cap.
Is bitcoin entering a bear market ?
After the digital currency slid from its record high of $58,000 last Sunday to $47,000 as of Friday afternoon, its biggest weekly loss since a 33.5% decline last March, some skeptics are saying bitcoin is on the verge of falling into, if not already, in a bear market.
Strategic Wealth Partners Luke Lloyd told Insider he sees a massive correction ahead for bitcoin.
Lloyd said regulation fears will be the catalyst for a fall all the way to $24,000.
But he said he thinks its price will recover and surge to $100,000 by the end of the year.
Luke Lloyd is an outspoken bitcoin bull when it comes to his long-term outlook.
So it might have come as head-scratching news to some when the investment strategist and wealth advisor at Strategic Wealth Partners said on Fox Business Varney & Co. that he d cashed out of the cryptocurrency when it hit $40,000 for the first time in January.
Mark Yusko
Morgan Creek Capital Management launched the third ETF to capitalize on the SPAC boom.
Founder Mark Yusko breaks down the strategy and how it could be beneficial in a bear market.
Yusko, a crypto bull, shares 3 other sectors to watch amid the SPAC frenzy.
Special Purpose Acquisition Companies have been among the most talked-about investing trends of the past year. After all SPAC launches in 2020 more than tripled from 2019, according to SPAC Insider.
Everyone seems to have one, from Colin Kaepernick to Bill Ackman to Billy Beane. Now, they are even the subject of a rap song called SPAC Dream , which has over 98,000 YouTube views.
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Cathie Wood, the founder of ARK Invest, has amassed legions of obsessed followers.
Wood has become a favorite of the Wall Street Bets crowd, and successfully kept control of her firm.
Now, with assets accumulating and new funds coming out, the question is, can she sustain her success?
So far, this year has belonged to Cathie Wood. You could argue last year did too.
The founder of ARK Invest has seen flows into her active exchange-traded funds beat those of massive franchises like BlackRock s iShares, thanks to her blockbuster 2020 performance, which was driven by bets into mega-growth stocks like Tesla.
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Bitcoin jumps 7% after Elon Musk posts an image of a crypto-themed ring and makes a vague reference to dogecoin
Bitcoin jumps 7% after Elon Musk posts an image of a crypto-themed ring and makes a vague reference to dogecoin
Shalini NagarajanFeb 11, 2021, 21:22 IST
Photo illustration by Chesnot/Getty Images
Bitcoin spiked 7% on Thursday after
Elon Musk s consistent tweets about the asset continued.
The billionaire also made a reference to dogecoin, the meme-based
crypto that s soared this year.
Announcements from Mastercard and Bank of New York Mellon also further boosted its price.
The price of bitcoin rose by as much as 7% on Thursday after Elon Musk posted a vague tweet with a reference to dogecoin and an image of a crypto-themed ring.