Cryptocurrency
First Mover: Crypto Traders ‘Greedy’ as Goldman Warns on Dollar
As reported on CoinDesk, “During a turbulent year when cryptocurrencies have outperformed just about every other major investment category, traders in digital-asset markets are getting even greedier. “Bitcoin, the oldest and largest cryptocurrency, sits at an 11-month high of around $11,000 after surging earlier this week. It’s up 51% in 2020, nearly double the gains […]
As reported on CoinDesk, “During a turbulent year when cryptocurrencies have outperformed just about every other major investment category, traders in digital-asset markets are getting even greedier.
“Bitcoin, the oldest and largest cryptocurrency, sits at an 11-month high of around $11,000 after surging earlier this week. It’s up 51% in 2020, nearly double the gains in gold, which generated enthusiasm in traditional markets this week when it rose to a record intraday high.
“Ether, the second-largest cryptocurrency, has jumped about 30% just in the past seven days – a bigger gain than the Standard & Poor’s 500 Index mustered in all of 2019. So far in 2020, ether is up 142%.
“A popular gauge of market sentiment known as the Crypto Fear and Greed Index has, in just one week, turned from “fear” to ‘extreme greed.’ According to the Swedish cryptocurrency-analysis firm Arcane Research, the market is now at its greediest in a year…”