Stocks aren't doing anything at the moment and that's going to allow bitcoin to take the spotlight as it trades to $102,800.
One of the headline stories on CNBC is a note from Bernstein saying that bitcoin will replace gold over the next decade. That's the kind of sentiment that will keep the bulls in charge.
“We expect Bitcoin to emerge as the new-age premier ‘store of value’ asset eventually replacing Gold over the next decade, and becoming a permanent part of institutional multi-asset allocation and a standard for corporate treasury management,” analyst Gautam Chhugani wrote in a note Thursday.
In terms of equities, shares of American Airlines are up 7.5% in the pre-market after it boosted its profit outlook. Southwest Airlines shares are also up 4% on a better revenue forecast. Both are signs of a healthy consumer.
