Breaking down the big moves in Bitcoin

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Anthony Pompliano, Founder and Partner at Morgan Creek Digital Assets, joins Worldwide Exchange to discuss Bitcoin’s wild week, and where the cryptocurrency could go next in 2021 and beyond. Subscribe to CNBC PRO for access to investor and analyst insights on bitcoin and more:

Traders are looking closely at bitcoin and other speculative investments like Tesla for signs of exuberance that may indicate where the stock market could go next.

The cryptocurrency, which briefly topped $40,000 apiece last week, has become a poster child for the level of animal spirits in the financial markets. The same goes for Tesla, which just came off its record 11-day winning streak after a sevenfold rally in 2020. A number of investors and traders flagged that the broader stock market started to move in tandem with these two feverish assets in the past few days.

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Marcus D says:

Yeah but what’s gonna happen when Bitcoin crashes, sure this may be a small correction but it will eventually crash again just like it’s done before in the past. No one is going to want to use crypto once it crashes

Angel Romero says:

What can you buy with bitcoin besides more bitcoin?

Linda Joebert says:

The crypto mark:et is currently experiencing a bull run and a lot of newbies see this as a chance to get in on the action, I think I'll let others hold the bag. This happens anytime something moons. I've seen with Bitcoin in 2018, in the silver mar:ket, the oil mar:ket, housing and even about individual stocks. When something moons like this, sorry, you are too late. My advise if you are planning to go in the Crypto Mar:ket is you should trade with a wise approach rather than buying Crypto, holdin it to make gain and then get disappointed by an imminent crash in a few weeks. Over the past year I have been able to make 13+BTC following the instructions and s!gnals fromThomas Bradshaw, He runs program for investors/newbies who lack understanding on how tradN Bitcoin works, to help them utilise the volatility of the crypto mar:ket and also stack up more Crypt0. You can easily get to Thomas You can get to him on <bradshawthomas41(a) gmail .com> for any Crypt0 related issue.

Mike Webster says:

damn this dude thinks he knows the future. most of what he is saying makes zero sense and wont happen.

Adams Julius says:

Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise

patrick marshal says:

It’s starting to appear that Bitcoin traders are a bit too bullish for their own liking. The leading cryptocurrency has exploded higher in the past two days, rallying from the weekly lows of $22.890 to highs near $33,00. This rally comes as the U.S. dollar has plunged lower on expectations that Joe Biden will be taking the White House in the presidential election. Bitcoin may head higher if the U.S. dollar moves lower, but futures market data shows that the rally is quickly becoming untenable. Namely, the funding rates of futures markets have finally begun to tick higher after the spot-market-led rally. Bitcoin could rapidly correct to the downside if longs get overleveraged and get liquidated on a move lower. In other words, a long squeeze may be building. So I make deals in every sight of opportunity I see and I’ve always had the right guidance from prof Ryan jackson, They are genius, I’ve grown my btc from 6.0 BTC to 15.6 BTC, contact them on tele Gram – @profryan OR Ryanjackson5501@gmailcom’ their team helps ex pert and newbies make the best out of every trad e.

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J Dubz says:

1:11 I see the opposite, U.S. Dollar inflation coincides with Bitcoin going up in value.

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Anon ymous says:

Don't get me wrong, I'm a hodler and have Bitcoin, but many currencies have come and gone over the past several thousand years and each currency promised to be better than gold — they have all failed. I think people who are promoting Bitcoin need to shy away from attacking gold and present Bitcoin and gold as two peas in a pod — the pod being a store of value etc.

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