Bitcoin is headed for its fourth annual decline in its history, falling as much as 5.2% and is now about 7% lower for the year, with volumes low and investors bailing on Bitcoin ETFs. The bear market means Bitcoin has decoupled from stocks, with the S&P 500 closing at a record earlier this month and up 16% for the year, while Bitcoin has struggled to find a footing, indicating traders are staying on the sidelines, at least for now.
MARA Chairman & CEO Fred Thiel, however, expects a great performance from Bitcoin over the course of the coming year despite a ‘healthy retracement’ in the marketplace. He joined Carol Massar and Tim Stenovec on ‘Bloomberg Businessweek Daily’ to break it down.
——–
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
WATCH HERE: http://bit.ly/3vTiACF
Follow us on X: https://twitter.com/BloombergRadio
Subscribe to our Podcasts:
Bloomberg Daybreak: http://bit.ly/3DWYoAN
Bloomberg Surveillance: http://bit.ly/3OPtReI
Bloomberg Intelligence: http://bit.ly/3YrBfOi
Balance of Power: http://bit.ly/3OO8eLC
Bloomberg Businessweek: http://bit.ly/3IPl60i
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay: https://apple.co/486mghI
Android Auto: https://bit.ly/49benZy
Visit our YouTube channels:
Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts
Bloomberg Television: https://www.youtube.com/@markets
Bloomberg Originals: https://www.youtube.com/bloomberg
Quicktake: https://www.youtube.com/@BloombergQuicktake
