RATE Group | If Bitcoin Collapses, Buy The Dow; Libra Boosts Crypto Firm For Central Banks
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If Bitcoin Collapses, Buy The Dow; Libra Boosts Crypto Firm For Central Banks

24 Aug If Bitcoin Collapses, Buy The Dow; Libra Boosts Crypto Firm For Central Banks

Posted at 17:07h in Bitcoin News by

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IF BITCOIN GOES BELLY-UP, BUY THE DOW

Bitcoin’s future is uncertain: it could continue to climb to $20,000, $50,000 and beyond, or it could fall just as quickly as it rises. And if the latter happens, here’s why you might want to make a quick move into stocks.

CRYPTO MARKETS

But despite this uncertain future, bitcoin’s market dominance—a measure of its value compared to the wider cryptocurrency market—may be more than 90%, according to new research.

“Every day bitcoin stays ahead, it becomes less likely that any other cryptocurrency can compete as a money,” said Bendik Norheim Schei, analyst at Arcane Research, who carried out the study.

Even so, bitcoin traded sideways this week, falling to lows below $10,000 in the middle of the week.

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