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The heady days of daily headlines on Decrypt announcing new consecutive ATHs for Bitcoin cooled in what could be the end of a now historic bull run. Today, the currency suffered a further 5% decline, bringing it to a price of $ 35,000.
Observers predicted that a correction was overdue at some point in the race. Priced at $ 10,500 in early October, Bitcoin rose steadily through the end of the year, with noticeable growth spurts around Christmas and New Years, taking it to a dizzying ATH of $ 42,000. January 8.
the general consensus is that Bitcoin’s market performance has been bolstered by a wave of serious institutional interest from various companies. SkyBridge by Anthony Scaramucci recently launched his own Bitcoin fund; Michael Saylor’s MicroStrategy has also invested more than $ 1 billion in the currency, which may have prompted Morgan Stanley to buy a ten percent stake in the company to capitalize on growing interest in BTC.
Their faith in the play remains, however, with Scaramucci on Twitter state that “a 25% withdrawal is no surprise. Expect plenty of pushes and setbacks to come. »On the same platform, Saylor supports his expensive choice every day, summarizing his attitude towards Bitcoin in a retweeted even.
Elsewhere in the news
Meanwhile, according to a report by Coindesk, Goldman Sachs and JPMorgan have both sent out RFIs (requests for information), essentially probes to explore the custody of “digital assets” (crypto).
According to Assetdash, Bitcoin is now the tenth largest asset in terms of market cap, having sidestepped crypto critic Warren Buffet’s Berkshire Hathaway firm, now two places behind, and leaving giants like Visa, JPMorgan and MasterCard behind at fourteenth, respectively, fifteenth and twenty-first.
The charts may be down, but the future of Bitcoin remains a subject of heated speculation.
Warning
The opinions and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
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