Market Pulse: Bitcoin at 34-Month High as Anthony Scaramucci Targets Cryptocurrencies


    Bitcoin broke above $16,000 today for the first time since January 2018. Here are a few incremental positives.

    Cointelegraph reported that SkyBridge filed a prospectus with the SEC on Friday. It said capital could be allocated to “companies providing technologies related to digital assets.” SkyBridge is the “fund of funds” run by Anthony Scaramucci. It would follow other traditional firms like PayPal (PYPL), Square (SQ) and JPMorgan Chase (JPM) entering the cryptocurrency space.

    Coindesk separately reported that a foreign-exchange analyst at Citi named Thomas Fitzpatrick estimated BTCUSD could pass $300,000 by the end of 2021. He based his analysis on a comparison to the gold market in the 1970s.

    See also: TradeStation Crypto Is Now Available on TradingView

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    David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.