Yesterday bitcoin stopped its multi-week slide from 20000 at around 6500. After briefly hitting the mid 6000's bitcoin has rebounded to over 8000 and is now consolidating for a breakout. With many other the weaker hands out of the crypto market and interest returning, some analysts are predicting bitcoin to reach $50000 by this year's end, an over 500% gain from its current price.
Along with this, equity markets continue to slump with all major US indexes off over 1% in value today. Facing increasing uncertainty about the high valuations of some companies along with concerns over rapidly increasing inflation, stocks have taken a tumble the past week or so.
Will the bitcoin rally continue in spite of an equity market selloff? Only time will tell...
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Sully from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings! I am a minnow exclusive bot that gives a 5X upvote! I recommend this amazing guide on how to be a steemit rockstar! I was made by @EarthNation to make Steemit easier and more rewarding for minnows.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit