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A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. and WeChat in China eliminate the need for bills or coins. But those are just ways to move money electronically. China is turning legal tender itself into computer code.

The price of Bitcoin rose 100.8% in the first quarter and has increased 447.2% since October 2020, but reduced volatility may be the key to future price rises, analysts believe.

U.S. stocks gained 6.4% in the first quarter of 2020, while bond yields rose 3.6% and gold fell 10.3%.

"In the context of Bitcoin's historical returns, which have been quite remarkable, this period stands out as notable," Greg Cipolaro, global head of research at New York Digital Investment Group, said in a research report.

Bitcoin and cryptocurrency prices are soaring, pushing the value of the entire cryptocurrency market over $2 trillion for the first time (though some think the bull run could be just getting started).

With the bitcoin price hovering around $60,000 per bitcoin, the psychological $2 trillion barrier was broken by sharp increases in the price of smaller cryptocurrencies ethereum, binance coin, Ripple's XRP and litecoin, according to data from crypto price website CoinGecko.

Billionaire investor and the world’s biggest hedge fund founder Ray Dalio said that the history of money has left hints that bitcoin could face being outlawed by the U.S. government, just as gold was in 1934.

“I think that it would be very likely that you will have it, under a certain set of circumstances outlawed, the way gold was outlawed,” he said on the podcast Influencers with Andy Serwer on Friday (March 26). Serwer is editor in chief for Yahoo! Finance.

Bitcoin is getting boring at a time when annualized 30-day volatility as of Thursday’s close has seen a sharp downward dip, in a March with its own type of (weather) volatility.

To emphasize the point, have a look at the chart above, which shows the volatility of bitcoin daily returns for the past month. To be fair, I’m employing a little chart crime here, starting the y axis at 40% in order to accentuate the drop between March 24-25, as all but the last days of February have disappeared from the 30-day look-back on the CoinDesk Bitcoin Price Index.

Cristiano Ronaldo received 770 Fan Tokens $JUV ahead of Juventus' match against Benevento on Sunday as a way of marking his record-breaking goal milestone.

It's the first time a footballer has been rewarded with cryptocurrency, which is becoming prominent in terms of fan interaction in the game.

Fan Tokens $JUV allows Juventus fans to interact with their club and participate in various decisions through the Socios app.

Bitcoin and other cryptocurrencies could face a “brutal” price correction when regulators eventually weigh in on the sector, Europe’s largest asset manager Amundi has said.

The firm’s deputy chief investment officer Vincent Mortier said cryptocurrencies cannot be viewed as money or an asset worth investing in, in comments published as part of an upcoming report on the sector, seen by Financial News.

Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world.

Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month.

• The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under $60,000.
• The most common predicted range for bitcoin prices in three months was between $60,000 and $80,000, expected by some 36% of respondents.
• 69% of respondents think bitcoin is more likely to fall by half in 12 months, compared to 65% in February. BTC rallied by roughly 80% from February to March.
• Only 23% of respondents said they had ever bought bitcoin for their personal investments. Just over 40% of respondents under 35 have bought bitcoin compared to just 13% of those over 55.

They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most. 

Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record $6 billion of options contracts is set to expire. 

A drop to that price level would inflict “max pain” on buyers of options contracts, and it might be the most profitable price point for options sellers. It’s a remote risk, but not one to be discounted.

Bitcoin’s price struggled to push higher after briefly touching $59,000 when markets opened in the U.S. on Friday.

Investors continued to monitor the potential fallout from U.S. Treasury bond yields, which some analysts warn could lead to a correction in risky assets from bitcoin to stocks.

The 10-year Treasury note yield went as high as 1.74% on Friday, the highest since January 2020, after the Federal Reserve signaled Wednesday it would keep loose monetary policy for the foreseeable future.

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