A Citibank managing director thinks bitcoin could hit $318,000. MIT researchers resoundingly reject blockchain-based voting. And Bitcoin Cash’s latest fork looks set to fail.
A Citibank executive published a report predicting that bitcoin could reach $318,000 by December 2021. Using technical analysis, and a comparison to gold markets in the 1970s, Citibank Managing Director Thomas Fitzpatrick said quantitative easing could lead to a breakout price movement for the largest cryptocurrency by market capitalization. ClassicMacro, a pseudonymous Twitter account that surfaced the report, bucked the prediction by saying, “There is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up.”
Fidelity Director of Research Ria Bhutoria rebutted six common criticisms of bitcoin in a recent viral blog post. Published Thursday, the corporate blog examined supposed fallacies that bitcoin’s volatility means it cannot be a store of value, that