Bitcoin topped $23,000, for the first time in history. The cryptocurrency has gained +220% this year.
The digital coin surged more than +9% on Thursday, reaching $23,256.92. Scott Minerd, the chief investment officer at Guggenheim Investments, said on Bloomberg TV on Wednesday that Bitcoin’s scarcity coupled with “rampant money printing” by the Federal Reserve mean the digital currency should eventually rise to about $400,000.
Dan Gunsberg, CEO of Hxro, a crypto trading platform commented that if Bitcoin sustains its momentum, then “testing $36,000 will be the next real objective” . But he also cautioned that a significant break below $13,800 would lead to a much weaker period for the coin.
BTC.X broke above its upper Bollinger Band on August 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 70 similar instances where the stock broke above the upper band. In of the 70 cases the stock fell afterwards. This puts the odds of success at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows