{"id":19465,"date":"2021-01-03T14:30:10","date_gmt":"2021-01-03T12:30:10","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=19465"},"modified":"2021-01-03T19:53:11","modified_gmt":"2021-01-03T17:53:11","slug":"bitcoin-breaches-34000-as-rally-extends-into-new-year","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/19465","title":{"rendered":"Bitcoin Breaches $34,000 as Rally Extends Into New Year"},"content":{"rendered":"<p><span style=\"color: #000000; font-size: 14pt;\">(Bloomberg) \u2014 Bitcoin, the world\u2019s largest cryptocurrency, topped $34,000, just weeks after passing another major milestone.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 14pt;\">The currency gained as much as 7.8% to $34,182.75, before slipping to about $33,970 as of 3:05 p.m. on Sunday in Singapore. It advanced almost 50% in December, when it breached $20,000 for the first time.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 14pt;\">The latest gains top an eye-popping rally for the controversial digital asset in 2020, which rebounded sharply after a severe crash in March that saw it lose 25% amid the coronavirus pandemic.The currency \u201cwill be on the road to $50,000 probably in the first quarter of 2021,\u201d said Antoni Trenchev, managing partner and co-founder of Nexo in London, which bills itself as the world\u2019s biggest crypto lender.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 14pt;\">Institutional investors returning to their desks this week will likely boost prices further after retail buying over the holidays, he said.Bitcoin has increasingly been \u201cembraced in more global investment portfolios as holders expand beyond tech geeks and speculators,\u201d Bloomberg Intelligence commodity strategist Mike McGlone wrote in a note last month.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 14pt;\">Proponents of the currency have also seized on the narrative that the coin could act as a store of wealth amid supposed rampant central-bank money printing, even as inflation remains mostly muted.Bitcoin should eventually climb to about about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a Dec. 16 interview.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 14pt;\">Still, there are reasons to be cautious, partly since Bitcoin remains a thinly traded market. The currency slumped as much as 14% on Nov. 26 amid warnings that the asset class was overdue a correction. The big run-up in price in 2017 was followed by an 83% rout that lasted a year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) \u2014 Bitcoin, the world\u2019s largest cryptocurrency, topped $34,000, just weeks after passing another major milestone. The currency gained as much as 7.8% to $34,182.75, before slipping to about $33,970 as of 3:05 p.m. on Sunday in Singapore. It advanced almost 50% in December, when it breached $20,000 for the first time. The latest gains<\/p>\n","protected":false},"author":1,"featured_media":12809,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-19465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=19465"}],"version-history":[{"count":18,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19465\/revisions"}],"predecessor-version":[{"id":19485,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19465\/revisions\/19485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/12809"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=19465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=19465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=19465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}