News Roundup: Gold and Bitcoin in Investment Portfolios
According to FOCUS Online, investors can enhance their portfolios by including gold and Bitcoin. The article highlights that while traditional gold has always been a safe haven, the digital counterpart—Bitcoin—is also gaining traction for its potential high returns despite its volatility. Studies suggest that even a small allocation of 5% in Bitcoin could significantly improve risk-adjusted returns.
Coinbase Stock Decline Amidst Rising Competition
Despite a surge in Bitcoin prices, Coinbase's stock fell nearly 10%, as reported by wallstreet:online. This decline is attributed to growing competition from CME Group entering the Bitcoin spot market. Brett Tejpaul from Coinbase expressed optimism about increased institutional adoption but investor concerns over heightened competition led to the stock drop.
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Dogecoin Price Prediction Linked to Bitcoin Stability
The price of Dogecoin (DOGE) may rise by 15% if Bitcoin remains above $65K, according to an analysis on FXStreet German site. DOGE recently broke through resistance due to bullish momentum driven by higher lows on the Relative Strength Index (RSI). However, any dip below $0.12 would invalidate this optimistic outlook.
$2.1 Billion Worth of Crypto Options Expiring Today: Market Impact?
BeInCrypto reports that today marks the expiration of $2.1 billion worth of options contracts for both Bitcoin and Ethereum (source link here). These expirations follow recent U.S inflation data releases which have caused significant market movements with BTC jumping from $62K to $66K post-announcement.
Retail Investors Increasingly Buying Up Bitcoins
BTC-ECHO reveals that retail investors are increasingly purchasing Bitcoins (source link here). Data indicates these "shrimps," or holders with less than one BTC each, now possess seven percent of all circulating supply after buying up more coins than were newly minted last month.
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