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Bitcoin (BTC) hits a new ATH today, January 8, 2021. BTC has even passed Facebook; gold had better watch out. Fears of a sharp end to the current rally still remain even though no one yet knows the final destination of BTC during this long bullish phase.
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Michael Saylor: le Peter Schiff you Bitcoin
Bitcoin dipped to the $ 36,700 level today, before rising again and hitting $ 42,000 for the first time, at 15:10 UTC on Bitstamp.
The selling pressure at this level caused a rapid drop of 2.4%. The BTC is trading at $ 40,525 at the time of writing.
While Bitcoin is often the target of attacks by Peter Schiff ardently defending gold as a store of value, it is gold’s turn to come under attack from CEO of MicroStrategy, Michael Saylor.
The latter retweeted a video interview ofAnthony Pompliano sure CNBC, stating that Bitcoin is 10 times better than gold.
For Michael Saylor, gold is a “zombie store of value”.
Mark Zuckerberg will soon have to invest in Bitcoin
Earlier in the week, Bitcoin was still behind Facebook and Tesla in the top 100 assets in terms of market cap.
The BTC just passed Facebook by crossing the $ 41,000 mark. Gold and silver are always ahead, respectively in 1st and 6th place.
This ranking may still be upset in the days to come if the bulls continue to run.
Some analysts hypothesize that the bullish rally will lose strength once institutional investors’ appetite for the BTC will start to stagnate.
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Other factors, other than the purchases of institutional investors, however, support the current bullish rally: the traditional media which promote Bitcoin and indirectly of cryptocurrencies in general, the crypto services of PayPal that encourage the entry of new retail investors.
The 42,000 are blocking for the moment. Will the bulls manage to cross it during this weekend or is it the end of the trip? Michael Saylor and Anthony Pompliano now dream of Bitcoin surpassing gold. The BTC is not very far from the latter, however, it has to climb a few more steps. The enthusiasm of the markets should not be underestimated, a crowd movement could push BTC quickly towards the $ 50,000 – a recent example for inspiration: the crowd invasion of the Capitol.
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Litecoin, welcome in the Silver Age
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