Other investments require even greater leaps of faith. You can do a lot worse than Bitcoin.
If the mega cryptocurrency has left you nervous, hold your nerves as there is a silver lining in the mayhem the crypto asset class experienced last week
Business Standard brings you the top headlines this evening
Bitcoin, the biggest and most popular cryptocurrency, rose 8.75 per cent to touch $40,000, after plunging 14 per cent on Wednesday to its lowest since late January.
The cryptocurrency has tumbled 40 per cent from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.
Crypto believers are dueling with skeptics: the former see an asset being embraced for its ability to hedge risks, while the latter sense a precarious mania riding atop waves of fiscal stimulus
Activity in Bitcoin futures suggests traders don't see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures
Bitcoin has risen around 72% so far this year, with most of the gains coming after electric carmaker Tesla said it had bought $1.5 bn in it
Bitcoin has been on a tear in recent times
Predicting a price for Bitcoin is challenging but it's likely to rise longer term as funds and family offices assign 0.5 per cent or 1 per cent of their portfolios to it, Matt Long said
Total assets under management (AUM) in the industry slipped to $29.7 billion as of Jan. 22, from an all-time peak of $34.4 billion on Jan. 8
The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange, after reaching an all-time high of $40,402.46 in the previous session
First it went through $20,000. Then 10 days later, it broke through $25,000, and then it crossed $30,000. Now only a few days into 2021, the price of bitcoin has crossed $40,000
"Bitcoin's competition with gold has already started in our mind," the Wall Street bank's strategists said in a note
India needs a regulatory framework for cryptocurrencies
The currency gained as much as 7.8 per cent to $34,182.75, before slipping to about $33,970 as of 3:05 p.m. on Sunday in Singapore
The latest gains top an eye-popping rally for the controversial digital asset in 2020
It has surged by nearly half since breaking $20,000 for the first time on Dec. 16
Despite the investment in bitcoin by trimming exposure to gold, Wood still continues to remain bullish on the yellow metal
The digital coin jumped more than 9 per cent on Thursday, touching a high of $23,256.92, according to a composite of prices compiled by Bloomberg