Blockchain and Cryptocurrency: People, Culture and Tech
The chief investment officer at the world’s top asset manager, BlackRock, argued that Bitcoin may be a better store of value than gold. “It's hard to say whether it's worth the price it is trading at today. But do I think it is a durable mechanism that—do I think could replace gold to a large extent? Yeah I do, because it's so much more functional than passing a bar of gold around.”
Bitcoin saw fresh volatility on November 12 as $16,000 came back into play but bulls saw familiar trouble with support. Data from price trackers including CoinMarketCap showed BTC/USD rising to pass $16,000 for the first time since 2017 on Thursday. The moment had been long coming, but highs of $16,180 swiftly met major resistance.
Bitcoin showed rare calm on November 10 as volatility gave way to smaller movements above $15,000. Data from price trackers including CoinMarketCap and TradingView showed BTC/USD hovering in a tighter range on Tuesday, focused on around $15,400.
Data from price tickers including CoinMarketCap revealed another day of major successes for Bitcoin, with daily gains topping 7.5%. At press time, the largest cryptocurrency hovered around $14,850, having risen to beat $14,400 and $14,500 resistance over the past 24 hours.
