Dec 28, · Bitcoin has been surging again, leaving it close to its record high. The cryptocurrency rose more than 17% to a record level of $28, between 4 p.m. on Author: Jacob Sonenshine. Dec 19, · Around , one common way to buy Bitcoin was to head to a public space like Union Square in lower Manhattan. There, buyers brought cash and sellers brought their phones to . Barrons Bitcoin is a decentralized whole number currency without a central bank or single administrator that can be sent from user to mortal on the peer-to-peer bitcoin system without the need for intermediaries. Transactions are verified away network nodes through cryptography and recorded in A public distributed ledger called a blockchain.
Bitcoin barronsBitcoin Just Jumped. It’s Near a Record High. | Barron's
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For the best Barrons. Google Firefox. Sign In. Text size. At mid-afternoon on Monday, it was just 3. Close Bitcoin Just Jumped. Thank you This article has been sent to. Privacy Notice. Cookie Notice. Copyright Policy. Data Policy. Your Ad Choices. Cascading liquidations often occurred, causing havoc in the market. Although Bitcoin saw a large pullback over the weekend, in general, the rally has been relatively stable since September.
The strong uptrend of Bitcoin might be due to the growing buyer demand from institutions. Large funds and high-net-worth investors are allocating hundreds of millions of dollars into Bitcoin. Immediately after the news started to circulate, Deribit found that the options market saw an increase in buyer activity.
Institutions investing in Bitcoin could fuel the market in two ways. First, when a household name like Guggenheim shows an intent to invest in Bitcoin, it buoys the overall market sentiment.
Second, when institutions buy Bitcoin, they create significant buyer demand because they typically invest tens to hundreds of millions of dollars at a time. Despite the interest in Bitcoin stemming from the growing institutional adoption, analysts foresee a difficult near-term trajectory for BTC. If the dominant cryptocurrency sees dwindling momentum, it could first consolidate or pullback before the next uptrend. News Source.
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