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Here's 'one of the most bullish signals' ever for bitcoin that many investors may have missed - MarketWatch
Oct 18, 2021 2 mins, 16 secs
Stocks are looking somewhat tepid to start the week as bond yields and oil prices climb, and China’s growth let down.

But the real thrills may be in the crypto universe, with expectations for the first bitcoin exchange-traded fund announcement as soon as Monday.

The excitement has pushed Bitcoin.

I believe this realization is contributing to BTC above $60k again?” he said.

Bianco was referring to China, as this chart shows:.

He credited the China pullout to a “catastrophic mistake,” saying that “when cryptos take hold as a legitimate medium of exchange, they will be left behind.” China last month declared all crypto-related transactions illegal.

“Combined with China’s regulatory crackdown in other industries, and why do we have a hard time believing that China is regressing? It seems to be the most plausible explanation,” said the strategist, who noted North America is dominating those hash rates.

CEO Jack Dorsey tweeted late Friday that his digital payments group is considering “building a bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.”.

Last word goes to crypto bull Raoul Pal, the chief executive officer of Global Macro Investor and co-founder of Real Vision financial and Crypto TV, who earlier this year predicted an ETF announcement would pave the road for bitcoin $250,000.

He said while a bitcoin ETF “gives people access to the space that couldn’t get access before,” investors should consider the middlemen.

I mean everyone is taking a slice of your pie,” he said in comments over the weekend.

We know the pattern…this October, November, December, January, February, March is going to be the point where it’s almost impossible to lose money by owning anything,” he said, pointing to this bitcoin chart:.

Pal said bitcoin could hit $250,00 if that same pattern repeats, but he also sees upside into next year as institutions tend to allocate at quarter-end.

“They would have seen the FOMO [fear of missing out] of this quarter and many will be looking for a new opportunity to invest in 2022,” he said.

could be allocating more money toward crypto in January, said Pal.

That said, some investment advisers are “extremely skeptical” about that first U.S.

bitcoin ETF.

China growth slowed to 4.9% year-over-year growth in the third quarter, from a previous 7.9%, due to a construction slowdown.

surged 40% in Paris, after the French biotech said its COVID-19 vaccine candidate outperformed AstraZeneca’s

after China growth data, and European equities

A team of strategists at Goldman Sachs led by David Kostin predicts that a record 52% equity allocation for households, foreign investors, mutual funds and pension funds will keep rising in 2022 given “unattractive alternatives and high cash holdings.” Corporations will lead the charge, the bank said in a note

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