“We can only speculate, but when you measure it in terms of dollars, you have to think [Bitcoin’s] going to infinity,” Powell said in a March 4 interview with Bloomberg. Pushed to be more specific, he said, “I think $1 million as a price target within the next 10 years is very reasonable.”
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Meteoric growth of Purpose Bitcoin ETF slows, but price premium remains
The first Canadian exchange traded fund’s massive initial inflow subsided at around $500 million, but it still commands a price premium over BTC of nearly 30%
“The initial surge in interest was evidence of some combination of pent-up demand, investors switching from other means of getting Bitcoin exposure, and the fact that Bitcoin’s price was notching new highs as the Purpose ETF began trading,” said Ben Johnson, Morningstar’s global director of ETF research. “Longer term, I expect volumes will be correlated with Bitcoin’s price.”
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Markets Report: Grayscale ‘panic selling’ may mean BTC bottom is in, says analyst
A return to below $50,000 for Bitcoin comes as Grayscale Bitcoin Trust exhibits a historically accurate sign that the market has bottomed
Bitcoin came full circle on March 4 after a trip to over $52,000 triggered a swift sell-off and loss of $50,000 support. Data from price trackers including CoinMarketCap and Tradingview showed a day of regression for BTC/USD, which dropped 7% in 24 hours to cancel out the previous day’s gains.
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Aiming at PayPal, Bitfinex launches crypto payments platform
Saying that it intends to take on payments “behemoths” the new Bitfinex Pay app lets merchants accept payments in four cryptocurrencies
No one ever accused Bitfinex of having small ambitions. Just days after it settled a years-long fraud lawsuit with New York’s attorney general over a loan it got from sister company and stablecoin issuer Tether, Bitfinex has launched a crypto-powered online-payments platform to take on payments giants like PayPal.
