A 13% rise in the price of ETH over the past 24 hours has propelled Ethereum onto a list of the top 100 traded assets by market cap for the first time, as measured by CompaniesMarketCap.com. Ethereum marched past 12 other entries on the list today and is currently positioned in the #88 spot, between Bristol-Myers Squibb at #89 and Anheuser-Busch at #87. Up 62% in 2021 alone, the price of ETH crossed $1,200 today for the first time since Jan. 2018 and appears poised to overtake its all-time high set Jan. 13 of that year. This year’s gains translate …

Newsweek, one of the largest American weekly news magazines, has taken a positive spin on Bitcoin (BTC) in a recent article that explores whether the digital asset can become the new gold standard. The article, which appeared on Wednesday, dissects the digital gold narrative using JPMorgan Chase’s latest model showing a potential BTC price of $146,000. Although the article presents little new information for crypto enthusiasts who have been charting Bitcoin’s meteoric rise, it provides more validation that the mainstream narrative surrounding cryptocurrency has changed. “All that glitters is not gold—but it might be Bitcoin,” wrote Scott Reeves. “And in …

Drawing parallels between Bitcoin (BTC) and gold's role as a hedge for investors has been popular for years. Until now, the stark discrepancy in the total market capitalizations of the two assets has limited these analogies to a significant extent. Gold, even after a major Bitcoin price rise in Dec. 2020, continues to command roughly 4.6 times Bitcoin's current $585 billion market capitalization. Yet strategists at the American multinational megabank JPMorgan Chase are forecasting a possible scenario in which Bitcoin can seriously take on its predecessor. On Jan. 5, a Bloomberg report cited a note from the bank's strategists, led …

Bitcoin price claimed another all-time high on Friday, this time against gold, offering further confirmation that demand for digital assets is on the rise. As Bitcoin (BTC) zipped past $29,000 on Friday, the digital currency reached a high of 15.40 gold ounces, surpassing the previous peak from December 2017, according to MarketWatch data. According to U.Today, the Bitcoin-gold rate peaked at 15.62 ounces during the early morning. 2020 was a watershed year for Bitcoin as institutional adoption helped catalyze a bull market unlike any we’ve seen thus far in its 11-year history. The largest cryptocurrency by market capitalization, Bitcoin saw …

Bitcoin (BTC) has had a week like no other, hitting fresh record highs of $28,400 and staying near the top — what's next. As markets return to digest a wild Christmas, Cointelegraph presents five factors set to help with Bitcoin price direction this week. Gold surges as Trump signs stimulus bull Markets have been spared a nightmare this week after U.S. President Donald Trump agreed to sign off on Congress’ $900 billion coronavirus stimulus bill. Set to add a large amount of debt to the Federal Reserve’s existing mountain, the package includes various benefits for businesses but stops short of …

Bitcoin (BTC) has won over a number of mainstream financial gurus in 2020 against the backdrop of a difficult year for the United States economy. Some markets experts, such as Dennis Gartman, however, still remain skeptical of the digital asset. Gold and Bitcoin are not really equivalent, according to Gartman’s Tuesday interview with Bloomberg. “Gold has been around for thousands of years, Bitcoin has been around for 20 years,” he said. Gartman put out a financial commentary series for 30 years, called The Gartman Letter. Bitcoin has not been around for 20 years though. The asset’s pseudonymous creator, Satoshi Nakamoto, …

Institutional investors may be all that’s pushing up the price of Bitcoin (BTC), a new report from JPMorgan Chase claims. In comments on Dec. 18 quoted by Bloomberg, strategists led by Nikolaos Panigirtzoglou added to recent forecasts about the role of institutions in Bitcoin’s future. JPMorgan: Bitcoin "overbought" According to JPMorgan, the largescale inflows seen this month must continue to avoid a price correction. As Cointelegraph reported, theories tied to recent price rises include institutional investors buying via over-the-counter trades that suck up the available supply. This has been called a liquidity crisis, which will only accentuate with time, while …

Bitcoin’s (BTC) parabolic surge in 2020 will not hurt major traditional assets like gold, according to Goldman Sachs. One of the world’s biggest investment banks, Goldman Sachs reportedly sent a note to investors, reassuring its clients that Bitcoin does not pose an existential threat to gold, Bloomberg reports Dec. 18. “We do not see evidence that Bitcoin’s rally is cannibalizing gold’s bull market and believe the two can coexist,” the company wrote. Goldman Sachs still admitted that Bitcoin’s ongoing rally could steal some demand from gold investors, stating: “Gold’s recent underperformance versus real rates and the dollar has left some …

Bitcoin’s (BTC) price rise has brought all sorts of comments out of the woodwork. Although many carry a bullish tint, some folks still doubt crypto as a new store of value class. David Rosenberg, the chief economist and strategist, as well as president, of the firm Rosenberg Research & Associates, recently described gold’s supply as more predictable than Bitcoin’s. "Everybody seems to believe that we're going to get to that 21 million cap on the supply constraint, but there's really nothing in the protocol to suggest that the supply of Bitcoin can't go up once we hit that limit," Rosenberg …

A Canadian restaurant chain known for serving shawarma, hummus, and other Middle Eastern delicacies has dropped some serious truth bombs about why Bitcoin (BTC) is a better store of value than gold. In a series of tweets, Ontario-based Tahini’s Restaurants explained why Bitcoin — and not gold — is the best way to preserve one’s wealth. “We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” Tahini’s tweeted, before explaining why “gold’s years are numbered.” Contrary to what gold bugs think, the yellow metal’s true value comes from people and …

In an exclusive interview with Cointelegraph, Pomp reaffirmed the Bitcoin price prediction he made back in 2019. “It’s going to be pretty aggressive. I am pretty confident in Bitcoin to $100K by the end of 2021." Together with favorable macroeconomic conditions, Pompliano sees the after-halving effect as one of the main catalysts that could drive Bitcoin toward that potential target. Pomp believes that Bitcoin’s diminishing supply coupled with increased demand from institutional investors will drive Bitcoin’s price to new highs. Even though there are around 18.5 million Bitcoin currently in circulation, he acknowledged that this number does not take into …

Growing mainstream acceptance of Bitcoin (BTC) as a reserve asset is having a direct impact on gold, setting the stage for a major shift in institutional allocation between the two assets, according to analysts at JPMorgan Chase. Quantitative strategists, including Nikolaos Panigirtzoglou, believe that Bitcoin’s digital gold narrative will draw investors away from precious metals, possibly for years to come, leading to a large divergence in price between the two assets. The bank said Bitcoin only accounts for 0.18% of assets held at family offices, compared with 3.3% for gold exchange-traded funds. Using this data as a starting point, only …