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Forbes (March 4)

2024/ 03/ 05 by jd in Global News

“The bitcoin price has topped $60,000 per bitcoin, making it a $1 trillion asset again,” reigniting concerns of possible fallout on the economy should its price tumble. Still, the wind appears to be with bitcoin. “Bank of America analysts have warned the U.S. debt load is about to ramp up to add $1 trillion every 100 days—fueling a bitcoin price surge.”

 

Forbes (March 5)

2023/ 03/ 07 by jd in Global News

“The bitcoin price had rocketed by 50% since the beginning of 2023 but stalled out and crashed back, wiping away $100 billion… and reviving fears other crypto companies could follow FTX into bankruptcy.” Silvergate appears likely to be the next to tumble. The crypto bank “is teetering on the verge of collapse—with one short-seller predicting the bank will implode this week.”

 

The Street (July 22)

2022/ 07/ 24 by jd in Global News

“The cryptocurrency market has lost $2 trillion in value since hitting an all-time high of $3 trillion in early November, according to data firm CoinGecko. Prices for bitcoin, the king of cryptocurrencies, are down more than two-thirds since hitting an all-time high of $69,044.77 on November 10.”

 

Forbes (July 11)

2022/ 07/ 13 by jd in Global News

“Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse. The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000,” according to survey of 950 investors. This “lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets.”

 

Forbes (May 19)

2022/ 05/ 20 by jd in Global News

“As bitcoin and crypto traders come to terms with the huge price crash that’s wiped $1 trillion from the combined crypto market since April, fears are mounting that more pain could be on the way if stock market contagion spreads.”

 

Reuters (November 20)

2018/ 11/ 23 by jd in Global News

“The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfill one of the basic features of any payment currency: stability.” At this point, widespread use for payments looks like “a distant dream.”

 

Institutional Investor (January 31)

2018/ 02/ 01 by jd in Global News

“Bitcoin’s wild price swings have investors wondering how to short the digital currency, as there would be a lot of money to be made in the latest craze in investing.” Alas, this isn’t so easy. Though Bitcoin futures trade openly, the Chicago Mercantile Exchange is charging “an initial margin of 47 percent of the futures’ value owing to the volatile nature of Bitcoin.”

 

Fortune (January 16)

2018/ 01/ 17 by jd in Global News

“Bitcoin and other digital currencies have always been volatile, so a big daily drop is not unusual. That said, Tuesday was a particularly ugly day for crypto investors as every major currency fell by anywhere from 15% to 28%. A back-of-the-envelope calculation by Fortune shows that the top 10 currencies had collectively lost $108 billion in 24 hours as of 3 pm ET on Tuesday.”

 

Equities.com (May 31)

2017/ 06/ 02 by jd in Global News

“Bitcoin is the original cryptocurrency, and its meteoric rise has made it a mainstay of conversation for investors, media, and technologists alike,” especially now that a coin is priced at over $2,000. “But the true impact of Bitcoin is actually far more reaching than this – it’s actually helped to birth new markets for over 800 other cryptocurrencies…. For the first time since Bitcoin was founded, it now makes up the minority of the entire cryptocurrency market at about 47.9% of all coins and assets.”

 

The Economist (October 31)

2015/ 11/ 01 by jd in Global News

“Bitcoin’s shady image causes people to overlook the extraordinary potential of the ‘blockchain,’ the technology that underpins it.” Blockchain technology “lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority” and Bitcoin’s innovation carries a significance stretching far beyond cryptocurrency. This “machine for creating trust” could eliminate the need (and cost) for institutions like banks and clearing houses that handle many existing transactions.

 

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