After hitting local lows of $43,000 in recent days, Monday is seeing a renaissance in momentum on Bitcoin markets, with even Bitcoin-skeptical Citibank flipping bullish on long-term prospects.
Bitcoin to hit $318K by December 2021: CitiBank managing director
The banker points out that ‘the whole existence of Bitcoin has been characterised by unthinkable rallies followed by painful corrections and suggested that another rally is coming’
In a note sent by Citibank to its institutional customers and leaked on a twitter, Fitzpatrick suggests that the price of Bitcoin will reach $318,000 by December 2021. He says: “Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favour of Bitcoin could be at their most persuasive ever.”
Facebook, Google want to be your banker
In separate announcements, Facebook unveiled a non-blockchain payments tool that could compete with Libra, and Google said it will offer consumer checking accounts
The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
Facebook is joining Apple and Google in coming after Citibank and Chase
The social media giant’s Libra cryptocurrency is about a lot more than just payments
The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.