logo |

News

    Home   >     Industry    >     Main body

    Bitcoin rally is back on track

    Abstract:Cathie Wood, CEO and cofounder of Ark Invest, spoke at a conference in New York about the potential of cryptocurrencies.
    image001-637672811362048451.png

      Bitcoin rally is back on track

      Cryptocurrencies

      Cathie Wood, CEO and cofounder of Ark Invest, spoke at a conference in New York about the potential of cryptocurrencies. Despite the recent drop in Bitcoin prices, she continues to remain bullish and predicts that the price of Bitcoin will be in the six figure range. She anticipates that Bitcoin prices will more than tenfold and trade nearly $500,000, up from nearly $47,000 now. She did, however, emphasize the importance of institutional investors allocating at least 5% of their portfolios to digital assets. She added that while Bitcoin remains her preferred cryptocurrency, she is also keeping a close eye on Ethereum, which has risen significantly and is transitioning from “proof-of-work to proof-of-stake.”

      Bitcoin prices have moved back above the 50 and 200-day SMA on the daily time frame which is certainly positive for the price Something which is also immensely positive for the Bitcoin price is the golden cross which is taking today ie the 50-day SMA crossing above the 200-day SMA on the daily time frame. If price continues to trade above these moving averages, we could potentially see a major rally for the Bitcoin price.

    photo_2021-08-11_16-33-17.jpg

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.