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Why Bitcoin's Longest Run Above $10,000 Matters
Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long-term HODLers in the process.
Updated Sep 14, 2021, 10:01 a.m. Published Sep 28, 2020, 7:00 p.m.
Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long-term HODLers in the process.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today on the Brief:
- After four weeks down, bitcoin bounces back on suspicions that recent bearishness was overblown
- KuCoin exchange gets hacked for somewhere between $150 million and $280 million
- Jack Dorsey outlines Twitter’s blockchain and bitcoin beliefs during Oslo Freedom Forum appearance
See also: Understanding the Coming Currency Cold War
Our main discussion: Digging into bitcoin’s 64-day run over $10,000
Bitcoin has been above $10,000 for longer than any time in its history. Its volatility is also at recent historic lows. In this episode, NLW puts this in the context of broader market movements and explains why new price floors are self-reinforcing.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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