Bitcoin’s rally was featured in a recent Fortune magazine article titled, “Bitcoin bulls eyeing a $20,000 price target.” The piece discusses the cryptocurrency at its highest level since January 2018, speculating whether bitcoin’s rise is due to uncertainty from the U.S. election, the future of the pandemic or simply more investor interest. The article reads, “The digital currency has been benefiting from high-profile investments from the likes of Square Inc. and Paul Tudor Jones. JPMorgan Chase & Co.’s JPM Coin was reportedly used to make a payment for the first time. Proponents argue bitcoin can be a diversifier in times of uncertainty, so events like lockdowns across Europe or delays of U.S. election results could be fueling its rise. After taking out the June 2019 highs at $13,800, the next resistance is around $20,000, Fundstrat Global Advisors LLC technical strategist Rob Sluymer said in a note last month.”
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Fortune is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with Forbes and Bloomberg Businessweek in the national business magazine category and distinguishes itself with long, in-depth feature articles. For more information, visit www.Fortune.com.
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