Why has trondao founder Justin Sun placed significant wealth in Valkyrie Digital Assets? Are China concerns behind the decision?...Bitcoin trades flat at 16.7K on the 14th anniversary of its unveiling to the public. TheSamReynolds and JPRubin23 write
Bitcoin's Trades Flat on Its 14th Birthday, Holds Over $16.6KNo cake, balloons or wild price increases on Tuesday to celebrate its launch into public awareness by the pseudonymous, mysterious Satoshi Nakamoto in 2009.
"I don't believe we've reached bottom," said Bilal Little, president of DFD Partners, a distribution platform for asset managers, on CoinDesk TV's First Mover program."I still believe that there will probably be one or two more big headline issues that will drop in that will cause some impact on the marketplace. But once we hit somewhere in between, call it $12,000 to $13,000 or so, we should have a good flush of the system.
Equity indexes closed their first trading day of 2023 down with the tech-focused Nasdaq and S&P 500 falling 0.8% and 0.4%, respectively, as investors remained fretful about inflation and the looming prospect of recession. The economic aftershocks of China's decision to relax Covid restrictions also remained unsettling.
A report by brokerage firm Bernstein on Monday offered some hope for investors less concerned about the current crypto winter than digital assets' long-range upside. Bernstein said that despite bitcoin’s slump last year, it is up about 60 times from its 2014 low and roughly five times from its 2018 bottom. Ether is up 14 times from its 2018 lows, despite a 68% slide last year.
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