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A $100,000 Bitcoin is Not a Meme Anymore

About three years ago, Morgan Stanley analyst James Faucette and his team sent a note to its clients about Bitcoin. In the paper, the group suggested that the actual value of the benchmark cryptocurrency, which was trading around $13,500 at that time, might be zero. Mr. Faucette might have been right to a point. The…

GameStop’s Short Squeeze and What It Means for Bitcoin

Who wins when an army of red ants attack a big-bulky elephant? That is pretty much the fight between retail traders and hedge funds as they attempt to make profits from an unloved GameStop stock. Bonus: it does leave a lot to grasp for the emerging Bitcoin industry. A Little Background For months, some Reddit…

The Top Three Bitcoin Predictions for 2021

Happy New Year CoinStats followers, especially as Bitcoin explodes past $34,000, then corrects back below $30,000, and then moves back above $30,000. The price volatility—indeed—continues to remain a risk for the faint-hearted.

Bitcoin’s Drop Has Done Little in Shaking Its Bullish Momentum

Bitcoin has a crucial task ahead to determine whether its record-setting bull run in 2020 is a repeat of 2017’s pump-and-dump scenario or its first step towards a long-term ascent. In the last seven days, the benchmark cryptocurrency signaled the former. Its price took a beating, falling more than 30 percent from its yearly high…

Why Gold Fell Drastically Last Week and Bitcoin Didn’t

At one point on Monday, Bitcoin was down 4.30 percent from its opening rate at $15,482. Traders who considered the cryptocurrency as their true hedge against the economic meltdown led by the coronavirus lockdowns suddenly felt the need to not holding it. The reason was simple: they thought there won’t be extended lockdowns in the…