Bitcoin has finally traded above $50,000. The move from $40,000 to $50,000 has taken nearly 8 times as long as it took to move from $30,000 (2nd Jan) to $40,000 (7th Jan). The 'news effect' of companies announcing Bitcoin purchases will fade soon, removing an easy 10% kicker to the logic of putting the position on in the first place. I wonder how long Tesla and MicroStrategy will own their Bitcoin for? https://learn.equos.io/news/daily-btc-analysis-66
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This week in crypto, celebrities rallied around DOGE while other parts of the world moved forward with crypto-banning bills. Read more about this week's top stories below. https://learn.equos.io/news/week-crypto-21
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Today's news helped prices, with rumors that Twitter and GM are considering investing in BTC. Adding BTC to your balance sheet could become the thing to do, MicroStrategy shareholders will be happy to tell you about that... https://learn.equos.io/news/daily-btc-analysis-64
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Yesterday, the total value of the cryptocurrency market surpassed that of Google as it rose to a record $1.4T. Now only Apple, Microsoft, and Amazon have a higher value than the crypto market. Bitcoin still has some way to go to stake its claim: We are still waiting for the $1T market cap level, which represents a BTC price circa $54,000. Will this be the week? https://learn.equos.io/news/daily-btc-analysis-63
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It's likely the next big player to announce an allocation of treasury reserves into BTC is another big tech player: Oracle. Larry Ellison, Oracle's co-founder, sits on Tesla's board. It is likely he would have been part of the team that sanctioned the $1.5B purchase. This will undoubtedly push the fears of a lack of supply back to the front of news headlines. How high will fear around a lack of supply push Bitcoin's price next? https://learn.equos.io/news/daily-btc-analysis-62
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Given the 10% rally, thanks to Tesla's recent moves and the fact that it seems miners are done with their annual pre-holiday sales, what lies ahead to stop Bitcoin from reaching our next target of $54K? https://learn.equos.io/news/daily-btc-analysis-61
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Morning Update—Macro and Crypto Markets—February 8th With progress on the US stimulus front, hopes of a continuing recovery with vaccines coming out, and last week’s positive earnings from large companies, markets felt and continue to feel risk-on. This week, further earnings are due to come out, namely: Cisco, Twitter, Uber, MGM, GM, Coca-Cola, and Disney. https://learn.equos.io/news/morning-updatemacro-and-crypto-marketsfebruary-8th
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