Bitcoin Price Rebounds, JPMorgan Sets Price Target at $146,000
Bitcoin price rebounded above the $31,000 level after the largest single-day decline in Monday trading, extending the unprecedented volatility into 2021 that initially started since the beginning of the September quarter of 2020.
Bitcoin Price Fell on Profit-Taking, the Bull Case is Still Strong
After smashing an all-time high on Monday, Bitcoin price retreated amid traders profit taking strategy as the largest coin soared almost 40% in the last month alone. Despite the selloff, the market fundamentals are supporting the bull’s case considering the crypto adoption.
Here’s What Analysts Say About Bitcoin Future After Reaching a Three Year High
Bitcoin price has reached three years high of $18700 level, shy slightly from an all-time high of $20K that it had hit at the end of 2017. The price of the largest digital coin soared sharply since the pandemic hit global stock markets in the past two quarters.
Bitcoin Smashes Three Year High of $18K, Higher Adoption in Focus
Bitcoin price soared to the highest level in the last three years as several past events have raised investors’ confidence in the largest digital coin. Institutional investments by MicroStrategy and Square along with product integration by PayPal boosted investors’ confidence.
PayPal Stock Fumbles Despite Record Results, Q4 in Focus
PayPal stock price fell more than 5% after reporting stronger than expected revenue and earnings growth for the September quarter. The company says earnings and revenue grew at a historic pace during the third quarter as pandemic-related distancing policies have enhanced user's focus towards online payment platforms.