{"id":17495,"date":"2021-02-24T07:28:36","date_gmt":"2021-02-24T06:28:36","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17495\/"},"modified":"2021-02-24T07:29:10","modified_gmt":"2021-02-24T06:29:10","slug":"what-is-happening-to-bitcoin","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/","title":{"rendered":"What is happening to Bitcoin?"},"content":{"rendered":"\n\n\n
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Gold<\/span>\u00a0 1806,71
\n(+0,07%<\/span>)<\/h4>\n<\/th>\n

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EURUSD<\/span>\u00a0 \u00a01,2146
\n(-0,02%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 31348,50
\n(-0,43%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 61,095
\n(-0,12%<\/span>)<\/h4>\n<\/th>\n

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DAX<\/span>\u00a0 \u00a013875,50
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bitcoin reached a new all-time high above $58,000 over the weekend. Monday and Tuesday were in contrast a cold shower for it, with the price dipping below $45,000 per BTC. The market is now resembling a rollercoaster ride, with the price flying in both directions, taking a huge amount of stops off traders and investors.<\/p>\n


\nBTC <\/strong><\/p>\n

\"BTC\"<\/p>\n

Last week’s milestone was not just about breaking the $50,000 level. It was the simultaneous rise in capitalisation of the first cryptocurrency above USD 1 trillion. Now Bitcoin has a second target of $2 trillion in addition to the $100,000 target.
\nA bitcoin price of $50,000 could somehow survive the regulators. So, what do you think, 30-40-50-70, who cares? But the rise in capitalization to $1 trillion is effectively a verdict on today’s financial system. There is a new asset class that does not depend on governments and central banks. It cannot be taken under control, its issuance cannot be inflated by issuing unsecured money, etc. And, worst of all, the more the new reality reaches investors, the faster Bitcoin begins to grow.<\/p>\n


\nWhat should regulators do with all this?<\/strong><\/p>\n

The battle of evil against good has already been lost. The good (Bitcoin) has won. However, the losing army still has reserves and is desperately fighting back, trying to postpone the inevitable.
\nEarlier this week, the owners of the old financial system went all-in. It’s unclear what kind of leverage Elon Musk had to take, but he suddenly announced that bitcoin was overvalued. Bill Gates immediately appeared, saying that he did not own Bitcoin, but investors should be extremely careful with them.
\nAnd the cherry on the cake, of course, was a statement by US Treasury Chief Janet Yellen, who expressed the view on Monday that Bitcoin was a speculative asset.
\nHow was Bitcoin supposed to react to the firing of all guns at it? That’s right, the first cryptocurrency falls on panic sell-offs. Most of them are exits from speculators closing their long positions with leverage on margin calls.
\nLooking at what is going on, the next version that no longer seems absurd comes to mind. Perhaps the world’ powerful simply did not have time to buy Bitcoins at good prices. And now they’re scapegoating the first cryptocurrency, giving “knowledgeable players” a chance to buy good volume during the panic.
\nIf in the next 5-10 days we see Bitcoin price above $60000 per 1 BTC, then our version will turn from absurd into absolutely logical.<\/p>\n

02.00 Reserve Bank of New Zealand interest rate decision
\n08.00 Germany’s Q4 GDP
\n16.00 New home sales in the US for January<\/p>\n

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Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1806,71 (+0,07%) EURUSD\u00a0 \u00a01,2146 (-0,02%) DJIA\u00a0 31348,50 (-0,43%) OIL.WTI\u00a0 61,095 (-0,12%) DAX\u00a0 \u00a013875,50 (+0,01%) Bitcoin reached a new all-time high above $58,000 over the weekend. Monday and Tuesday were…<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhat is happening to Bitcoin? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Bitcoin reached a new all-time high above $58,000 over the weekend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is happening to Bitcoin? | Bernstein Bank\" \/>\n<meta property=\"og:description\" content=\"Bitcoin reached a new all-time high above $58,000 over the weekend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\" \/>\n<meta property=\"og:site_name\" content=\"Bernstein Bank\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-24T06:28:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-24T06:29:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2019\/10\/morning-news.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"455\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Wordpress Support\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Wordpress Support\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\"},\"author\":{\"name\":\"Wordpress Support\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/f2be4e4423d78d9d97bf1e9a8db9fd48\"},\"headline\":\"What is happening to Bitcoin?\",\"datePublished\":\"2021-02-24T06:28:36+00:00\",\"dateModified\":\"2021-02-24T06:29:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\"},\"wordCount\":625,\"image\":{\"@id\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2019\/10\/morning-news.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"ENH\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\",\"url\":\"https:\/\/bernstein-bank.com\/en\/what-is-happening-to-bitcoin\/\",\"name\":\"What is happening to Bitcoin? 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