Bitcoin rising back to $40,000 level

Hanno Labuschagne

Hanno Labuschagne

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Bitcoin rising back to $40,000 level

Bitcoin rose to $37,000 on Monday, back toward a level that strategists at JPMorgan Chase & Co. see as an inflection point for the digital coin.

The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon, a team including Nikolaos Panigirtzoglou said.

The pattern of demand for Bitcoin futures and the $22.9 billion Grayscale Bitcoin Trust will help determine the outlook, they added.

[Bloomberg]
 
The_Hobbit said:
Not sure I'm seeing that. It's been yo-yoing...
Why would it now get to 40k?

View attachment 996278
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Yeah I don't know, it's still trading within a triangle. Proving again that people can see anything they want to in the charts.

I also got to 36,500 by Sunday btw, after which it's possibly down.
 
Huh? Climbing back?
It's been more or less stagnant for a week now with the last two decent "climbs" being on Jan 10 and Jan 14.
Pointless article.
 
saor said:
Why would you touch XRP right now?
Plenty other alts you can trade.

https://mybroadband.co.za/forum/threads/alt-crypto.1118290/post-26734052
Click to expand...

I am wondering how strong the SEC's case is against Ripple. For now, all trading has been suspended for US traders only. Other countries can still continue to trade. If I am not mistaken, in Japan they recently found that Ripple is not a security. So, if this case bombs in the US, Ripple may well jump and regain its place as No. 3 crypto.
 
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