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Bitcoin 's gold-like ability to resist any form of seizure makes it a valuable asset for the long term, according to BCA Research, which calls for the world's largest cryptocurrency to eventually rally to more than $100,000. "The bitcoin price will rise well into the $100,000s as the market value for non-confiscatability grows substantially and bitcoin's share of this market grows substantially," Montreal-based BCA Research said. BTC.CM= YTD mountain Bitcoin Bitcoin hit a new all-time high above $73,000 on March 14, rising more than 70% this year. The introduction of U.S. spot bitcoin ETFs this year and the tightening bitcoin supply ahead of the late April " halving " have driven the price of the cryptocurrency up. "The sharp recent rallies in both gold and bitcoin reflect that the market has suddenly upped the value of non-confiscatability," BCA said.
Persons: Bitcoin, Dhaval Joshi, Joshi, bitcoin, Bullion, — CNBC's Michael Bloom Organizations: BCA Research, Research, BCA Locations: Montreal
In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.
Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. tech to see mixed results in 'AI gold rush,' says strategistDhaval Joshi, chief strategist at BCA Research, gives his outlook for U.S. tech giants' earnings as they seek to capitalize on AI.
Persons: Dhaval Joshi Organizations: BCA Research
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