Bitcoin really is an asset like no other, on technical charts
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Up 38% this year through Friday, Bitcoin had its best start to a year since 2012, when it surged almost 60% over the first eight days
(REUTERS)
. Updated: 12 Jan 2021, 09:24 AM IST Bloomberg
Bitcoin’s feverish run-up has called into question whether it’s gone too far, too fast
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Everyone has watched in awe as Bitcoin notched new highs almost daily. Now that its rally has abruptly ended, investors are wondering if they’re starting to witness the start of an even quicker crash.
Analysts and strategist on the lookout for frothy behavior have plenty of examples to point to. Take, for instance, Bitcoin’s moves on Thursday, when, near a record-high, it traded 179% above its average price over the past 200 days, three times the distance the Nasdaq 100 sported during the heydays of March 2000. The digital coin was up 120% over the past 20 sessions, a rate of return that’s also
Bitcoin s slide dents momentum | BusinessWorld bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Bitcoin’s Slide Dents Price Momentum That Dwarfed Everything
Bloomberg 1/11/2021 Vildana Hajric and Lu Wang
(Bloomberg) While little exists intrinsically to judge the fair value of a digitized currency, comparing Bitcoin to other high-momentum assets of the past shows how heated its rally has become and why it’s vulnerable to swoons like Monday’s.
Last week, for example, Bitcoin managed to trade 179% above its average price over the past 200 days, three times as high as the Nasdaq 100 ever got during the heyday of the dot-com bubble. The digital coin was up 120% over the past 20 sessions, a rate of return that’s also three times the best gain the tech-heavy equities gauge ever saw.
Treasury market’s bets on 2021 reflation face January reckoning
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Last Updated: Jan 03, 2021, 09:55 AM IST
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Synopsis
Bond traders have boosted expectations for inflation to near the highest in two years as they await an election next week.
Bloomberg
By Elizabeth Stanton and Edward Bolingbroke
January is shaping up to be a pivotal month in determining whether the nascent US reflation trade can really gather steam in 2021.
Bond traders have boosted expectations for inflation to near the highest in two years as they await an election next week that will determine control of the Senate and potentially the scope for further fiscal stimulus. The full economic fallout from the global coronavirus pandemic remains uncertain, with case numbers surging and vaccinations proceeding more slowly than projected. And the realities of a new U.S. administration will start to become apparent after Democrat Joe Biden takes the oath of office on Jan. 20.
Stifel chief economist sees difficult path to recovery bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.