On Friday, investment management firm VanEck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks listed on the S&P 500. In a blog post, the German issuer of exchange-traded products said that while Bitcoin (BTC) has long been considered a “nascent and volatile asset outside of the traditional stock and capital markets,” the reality shows that the world’s largest cryptocurrency trades with volatility comparable to that of some of the largest companies in the world. On a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price …

A senior executive at BlockRock, the world’s largest asset manager, admits that Bitcoin (BTC) has become a permanent fixture in the global financial system, offering yet another tangible sign that the narrative surrounding digital currency has changed. Rick Rieder, BlackRock’s CIO of Fixed Income, told CNBC on Friday that, “Bitcoin is here to stay.” While conceding that he is not a Bitcoin bull, Rieder said the flagship currency “will take the place of gold to a large extent [because] it is so more functional than passing a bar of gold around.” Bitcoin is sometimes referred to as “digital gold” for …

Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high — but some commentators appear to be determined to spread FUD. Two articles released within hours of each other earlier today — a Financial Times editorial titled “The elusive promise of Bitcoin,” and a Fox Business piece called “Bitcoin no match for gold in coronavirus world” — state that Bitcoin does not live up to its promise as a store of value. There appears to be coordinated media FUD aimed at #bitcoin today - 2 articles in major media. As bitcoin …

Bitcoin (BTC) has risen to rarely seen price highs, currently stalling between $17,000 and $18,500 before deciding on its next move. Gold recently broke all-time U.S.-dollar price highs, surpassing $2,000 per ounce before pulling back and consolidating in price. Bloomberg Intelligence strategist Mike McGlone thinks the same could happen with BTC. “Short term, $20,000 is pretty good resistance,” he said in a Bloomberg interview on Wednesday. “I’m afraid it’s probably going to do what gold did. It got to $2,000, and then that’s been consolidating in a bull market since.” Bitcoin rose to just shy of $18,500 on Tuesday before …

The Bitcoin (BTC) price bottomed at exactly the point that gold bug Peter Schiff said that it would crash further — and proponents are reminding him of his mistake. Retweeting a now infamous Twitter post that Schiff made in mid March, popular trader “CryptoBull” noted that he had accidentally called Bitcoin’s bottom, not top. Schiff tweet “marks exact bottom” for BTC Schiff was complaining that he had lost access to his Bitcoin wallet, but that soon it wouldn’t matter, because BTC/USD would keep crashing. “With Bitcoin crashing below $4,000 I don’t feel so bad about having lost all my Bitcoin,” …

Strategic investor Lyn Alden believes Bitcoin’s growing network effect coupled with favorable macroeconomic factors may bring its market capitalization to $1 trillion in the next few years. Back in 2017, Alden was skeptical toward Bitcoin (BTC), as the network effect of the main cryptocurrency was still relatively weak: “I was concerned with dilution. [...] So, if there isn’t one network effect that retains control, you could see that kind of market cap distributed among multiple different protocols.” Three years later, Bitcoin has not only retained its market dominance but also its network effect is set to grow further. In fact, …

Cory Bernardi — a controversial figure the Sydney Morning Herald has referred to as “Australia’s Donald Trump” — has talked up Bitcoin (BTC) in between Tweets challenging the results of the United States presidential election. In a Nov. 11 Tweet, Bernardi stated he had become a Bitcoin convert “in the last couple of years” and saw the demand for the cryptocurrency “getting stronger.” He cited Bitcoin bull Anthony Pompliano’s views as being “on the ball” regarding Bitcoin. “My conclusion is it is the millennial’s version of gold,” stated Bernardi. “Still see risks attached but are basically the same as other …

American billionaire Stanley Druckenmiller has changed course on Bitcoin, saying it has the potential to store value for future generations. Speaking on CNBC today, Druckenmiller said that although he was still more heavily invested in gold than crypto, he had purchased at least some Bitcoin (BTC). He did not specify how much. “Bitcoin could be an asset class that has a lot of attraction as a store of value to both millennials and the new West Coast money — and, as you know, they got a lot of it,” said the billionaire. “It’s been around for 13 years and with …

The price of Bitcoin (BTC) rose to as high as $15,840 before crashing to $14,800. Just five hours after reaching an intraday top, the dominant cryptocurrency dropped over 6%. This massive spike in volatility was likely caused by three major factors. The three catalysts for the abrupt downtrend were the recovery of the dollar, the decline in gold price as Pfizer announced that its COVID-19 vaccine trials are producing positive results, and whales dumping BTC. Precious metals and Bitcoin fell in tandem According to the Associated Press, Pfizer announced that the third phase of its vaccine trials is going well. …

The stock-to-flow model is flawed, says Charlie Morris, co-founder and CIO of crypto data firm ByteTree. According to the popular theory developed by quantitative analyst Plan B, Bitcoin’s capped supply is the key feature that will bring its price over $100K in 2021, and beyond. However, as explained by Morris in a recent report, a progressive squeeze of new supply won’t be enough to cause Bitcoin’s appreciation. According to Morris, the stock-to-flow theory doesn’t take into account the decreasing significance that the flow (additional supply) will have compared to the stock (total supply in circulation) on the Bitcoin’s price. Even …

The price of Bitcoin (BTC) suddenly fell by 3% within hours on Nov. 4 to $13,566 after briefly rising above $14,000. Coincidentally, the U.S. dollar, gold and stocks all fell together in tandem. Analysts are pointing to uncertainty surrounding the election as the catalyst for the sharp correction. Why markets fell after surging during the vote count When the mainstream media was actively reporting the vote count, the price of Bitcoin and stocks rallied. Yet, after the vote count ended for the day, all risk-on and risk-off assets went into the red, including S&P 500 futures. Tracy Alloway, a financial …

Satoshi Nakamoto announced the Bitcoin whitepaper on a cryptography mailing list on Halloween 2008. It could be the case that this was a meaningless coincidence, but when we take into account the meticulous planning behind Bitcoin’s launch party, the chosen date begins to take on more significance. Halloween is the carnival time, a ritual day when one can pretend to be someone or something else, whether a comic book superhero like Batman or Superman, or another eternally popular choice for Halloween, a Ghost — a spirit, much like Satoshi, that is neither dead nor alive. The carnival tradition goes back …