Bitcoin broke new highs one after another, JPMorgan questioned volatility, but BlackRock entered the arena. What’s the next target?

Fx168 financial news (North America) Wednesday (February 17), the overnight market, bitcoin hit a new high, to about $51700. At present, it is still strong and maintained around 51300 US dollars. (source: coindesk) news that MicroStrategy will sell $600 million of convertible bonds and use the proceeds to buy more tokens has been updated to expand the bond size to $900 million. MicroStrategy’s latest move is “a warning sign if the crypto world gets out of control,” Jeffrey Halley, senior market analyst for OANDA’s Asia Pacific region, wrote in an email comment. JPMorgan analysts said in a report that the limited supply of bitcoin caused holders to charge a premium over the listing of bitcoin. Retail capital flows may also have magnified institutional flows, they said. “In the past few months, we have been closely watching the apparent supply-demand imbalance because of a sharp rise in interest from institutional investors,” said Brian Melville, strategy director at Cumberland, the cryptocurrency unit of Chicago trading company DRW However, analysts at J.P. Morgan said bitcoin’s price is unsustainable unless volatility cools rapidly. Last month, they pointed out that bitcoin would become digital gold. “At current market prices, bitcoin’s venture capital relative to gold has more than doubled,” they said They point out that bitcoin has an actual volatility of 87% over three months, compared with 16% for gold. In addition, less than 5% of listed companies are expected to invest in bitcoin in the next 12 to 18 months, according to wedbush, a U.S. brokerage. Mark haefele, chief investment officer at UBS global wealth, said: “we advise investors not to see the current as the ‘mainstream moment’ for cryptocurrencies and to be cautious before speculating because cryptocurrencies are not a currency.” “We don’t think companies with existing internal payment ecosystems will join the cryptocurrency wave.” But in fact, more and more participants have joined bitcoin. Rick Rieder, BlackRock’s head of fixed income, confirmed on CNBC that BlackRock was entering the bitcoin investment sector, saying: “we’ve started to get involved in bitcoin.” “My feeling is that technology has evolved and regulations have developed to the extent that many people think it should be part of the portfolio.” A few months ago, Reid and Larry Fink, chief executive of BlackRock, both expressed interest in investing in cryptocurrencies, and documents submitted earlier this year also mentioned that some of BlackRock’s funds have invested in cryptocurrencies. In addition, nydig, a financial services company, has filed a bitcoin ETF application with the securities and Exchange Commission. According to nydig’s filing, the ETF will be a pure bitcoin fund. “In order to achieve its investment objectives, the trust will hold bitcoin. The trust company will value its assets on a daily basis in accordance with generally accepted accounting principles (“GAAP”) It is expected to be the first ETF to be listed in the US. The fund will be listed as a low-cost 0.5% pure bitcoin ETF, built for investors rather than asset managers. “If the market stays strong and above $50000, then we’ll see that momentum is building up and the race to $1 trillion really begins,” said Matt Blom, head of sales and trading at equios. $54000 is still the target, and looking forward, there is little to stop this trend, and the idea of $60000 will not be far away from the minds of traders. ” Proofread by: Charlotte

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