..

Bitcoin Jumps to New High of $51,700

Written by:
Aaron Goldstein
Published on:
Feb/17/2021

Bitcoin (BTC) hit another record high mark Wednesday morning.  The price hit a new high above $51,700 after braking the $50,000 mark on Tuesday.

JPMorgan issued a waning, however, stating that the rally looks unsustainable unless bitcoin's volatility falls.

"In our opinion, unless bitcoin volatility subsides quickly from here, its current price… looks unsustainable," the analysts said.

JPMorgan also said that its analysis had showed the rapid rise in bitcoin over the last 5 months "has taken place with relatively little institutional flows."

"Some pickup in real money flows would likely be needed to sustain current prices in the absence of a re-acceleration of the retail flow," the note said.

BTC's market capitalization has skyrocketed to close to $1 trillion.

Bitcoin represents better than 80% of all transactions for online gambling sites operating in restrictive markets.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Stock Market Worst Since 1970: Latest Odds

Stock Market Worst Since 1970: Latest Odds

The S&P 500 is on track for the worst first half of a year in decades as BetOnline has released its July 31 closing number (30850.5 Points), which is pretty much the June 30 closing.

Bitcoin Set for Worst Quarter in Over a Decade

Bitcoin Set for Worst Quarter in Over a Decade

We also look at ensuring transparency and authenticity on chain, even as it pertains to the world's third most faked food: Honey.  Plus gambling and the blockchain as it pertains to payment solutions.

Crypto Hedge Fund in Default

Crypto Hedge Fund in Default

Plus BitOasis exchange lays off employees amid downturn, Dr. Craig Wright calls Hashgraph useless and more funds betting against Tether.

Things to Consider When Choosing a Reliable Bitcoin-Winning Site

Things to Consider When Choosing a Reliable Bitcoin-Winning Site

Crypto casino industries are known to be very profitable industries, as well as one of the increasingly popular gaming industries. There are various Bitcoin casino sites that result in making it difficult in regard to making a good casino choice.

Bitcoin Miner Prices Likely to Keep Stressing Crypto Sector

Plus massive layoffs, lawsuits and a "crypto ice ag"?

Syndicate