The first half of 2021 has so far offered some significant opportunities for bitcoin bears to be wrong.
That drop of 27.5% in less than two weeks put bitcoin into bear market territory, at least as far as the normal definition of a bear market is concerned.
In the next two days, it would plumb weekly lows just below $30,000 before rallying to a new all-time high of $58,353.78 three weeks later.
Or, bitcoin could continue to repeat its 2021 pattern of setting a new all-time high, then falling back below recent averages only to set a fresh all-time high weeks later.
To be defined as a bull- or bear-market regime, a market condition has to last more than a few weeks.
As you can see from the chart above, based on our definition the duration of bull and bear cycles contracted between 2018 and 2020.
A cycle is defined as a period during which the 30-day moving average of the 30-day volatility does not move from one category to another.
After mostly getting longer from 2014 to 2018, these cycles became a lot shorter in 2019 and have stayed relatively short.
Bitcoin could be in for a long, cool spring of modest new all-time highs followed by sudden dips.
INX, a Gibraltar-based company with most of its operations in the United States, in August launched the first security token IPO for both retail and institutional investors approved by the U.S.
Ford Motor Co and BMW AG are leading a $130 million funding round in a solid-state battery startup, Solid Power, as carmakers push to lower the cost of electric vehicles by investing in the development of affordable but powerful rechargeable batteries, the companies said on Monday.
nonprofit Digital Dollar Project is set to launch five pilot programs over the next year to test the potential uses of a U.S.
Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, with investors betting that ether will be of ever greater use in a decentralised future financial system.
Global grains merchants are using satellites and spies to surveil Brazil’s soybean heartland and deploying an army of lawyers to ensure farmers deliver promised crops instead of finding a different buyer at prices that have doubled since deals were made.
“This situation, current and past, is favorable to a reduction in the dispersion of expectations and therefore of a return of the preference for value.”The S&P 500 rose 0.6% and the Nasdaq was 0.4% higher.You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources.
While the administration’s plan remains in its infancy and is sure to face intense scrutiny from lawmakers in the months ahead, even an incremental hike in the capital-gains rate would likely spur further ETF usage, according to David Perlman, an ETF strategist at UBS Global Wealth Management.“If capital gains tax rates are going to be higher, if you have a choice of a structure that helps to defer capital gains and gives you more control over when to recognize those gains, you’d be more inclined to go in that direction,” Perlman said.When an investor exits a mutual fund, the fund’s manager must sell securities to raise cash for the redemption.