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bitcoin - 2 they're - 2 Wolfe - 1 it's - 1 Rob Ginsberg - 1 Solana - 1 Ginsberg - 1 We're - 1
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Wolfe Research - 1 Solana - 1 Securities and Exchange Commission - 1 Avalanche - 1 Citi - 1

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☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
  + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.
Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin
☆ Launch of new ETFs may not affect bitcoin the same way they did gold, Citi says. Here’s why
  + stars: | 2024-01-30 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
The launch of spot bitcoin ETFs in the U.S. has been widely anticipated for months, with many investors thinking they could revolutionize investing in the asset the way the SPDR Gold Shares ETF (GLD) did for gold in 2004. Bernstein recently said bitcoin could rocket to $200,000 by the end of next year with bitcoin ETFs. "It still took bullion ETFs several years to crystalize holdings and AUM that structurally impacted spot gold prices and lifted trading," Saunders said. Additionally, bitcoin is newer and less established than gold was before the introduction of gold ETFs, he added. Last year, that correlation fell to its lowest since 2021 , while bitcoin's correlation with gold has been climbing.
Persons: Bernstein, Alex Saunders, Saunders, they're, … bitcoin, bitcoin Organizations: Citi Locations: U.S
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