Blockchain is good for hodling, but not for voting: Bad Crypto news of the week

Blockchain is good for hodling, but not for voting: Bad Crypto news of the week


Bitcoin continues to move through the gears. The currency is up more than 12 percent over the week and is now playing with the $18,000 mark. And it’s not just the US dollar that Bitcoin is bashing. It’s also hit all-time highs against the Russian ruble, the Colombian peso, the Brazilian real, the Turkish lira, and the Sudanese pound among others. Its rise, now 375 percent above the point that gold investor Peter Schiff accidentally called as Bitcoin’s bottom, is inevitably causing analysts to ask how high it can go.

One expert is predicting that Bitcoin will soon hit $22,000, citing HODL and funding rates, the fall in Bitcoin reserves, and the growth of institutional accumulation. Investor Mike Novogratz has his eye on $65,000, powered by high demand and limited supply. Thomas Fitzpatrick, a senior analyst at Citibank, is looking even higher. In a report aimed at the bank’s institutional clients, he predicted $318,000 by December 2021.

And yet

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