Let’s be honest, you were more surprised than anything seeing Bitcoin trade at over $16,000. You probably thought to yourself, “How long will this last?” With the cryptocurrency trading at its highest point since January 2018, and up by over 120 percent since the beginning of the year, the sentiment is firmly bullish, but that...Read More
Bitcoin’s correlation with gold has inspired many narratives over the past eight weeks. However, the correlation may be deeper than popular opinion. The halving mechanism that is coded in the asset itself, drives its shortage of supply and reduces mining rewards in half every four years. Why is the chosen number of years, specifically four?...Read More
A JPMorgan report suggested that some investors, such as family offices, have been allocating more funds into Bitcoin rather than gold in recent months. The analysts from the giant multinational investment bank also noted that the comparison between the two assets could propel a massive price increase for BTC. Bitcoin’s Impressive Developments As Of Late...Read More
For the first time in a decade, central banks around the world are selling off their bullion stocks. Economists have opined that this is a direct result of the coronavirus pandemic led fiscal stress. If the trend continues, gold prices are in for some serious freefall rides. The question is, will central banks start stockpiling...Read More
Bitcoin skeptic Peter Schiff has done it again: The notorious gold bug, famous for being the owner of the only Bitcoin wallet capable of forgetting passwords, claimed that this time —unlike his other failed predictions— Bitcoin is genuinely about to die . Shortly before the price correction on Oct. 20, 2020, the investor went on...Read More
Ever since Facebook announced its plans to create a digital payment currency dubbed Libra, central bankers have tried to counter it with an invention of their own. While Libra is facing regulatory troubles, a BIS report indicated that over 80% of the world’s central banks are currently developing a central bank digital currency (CBDC). The...Read More
Despite having a complicated past, it seems that JP Morgan’s love for Bitcoin is growing every day thanks to its potential as an investment and store of value. In a recent report, the American bank shared with its investors an analysis of Bitcoin’s current situation and possible future scenarios regarding prices and fundamental value. The...Read More
The simple mathematical concept of a transitive property explains that if A = B, then B = A. So, in the cryptocurrency world, if 1 BTC = $13,000, then $13,000 = 1 BTC. Using that base-case, let’s scale down the equation. $1,000 can fetch you ₿0.076, and hence, scaling it down, $500 can get you...Read More
Billionaire hedge fund manager Paul Tudor Jones III has become an even bigger Bitcoin fan following the most recent price developments. As CryptoPotato reported back in May, Jones bought an undisclosed amount of BTC to protect himself amid the rising fears of increased inflations. In an interview with CNBC’s Squawk Box, the prominent investor doubled-down...Read More
A survey among over 2,000 Russian investors has placed cryptocurrency next to gold in terms of popularity. Moreover, younger investors aged below 30 have displayed significant favoritism towards digital assets. Crypto Ranks Above Gold Among Russian Investors According to the study published by the World Gold Council, investors from the world’s largest country by landmass...Read More
By this point in 2020, Bitcoin’s investment thesis needs no retelling. But for the uninitiated, here’s a quick summary. With central banks printing money like there’s no tomorrow, and riling up liquidity, any asset which has value, is limited and can be used as currency, benefits. Case in point, Bitcoin. Since the beginning of the...Read More
Bitcoin, Gold, and the S&P500 have collectively shared the center stage when it comes to market movement in 2020. While the crypto-asset has periodically taken sides, at the moment, Bitcoin is more correlated with the traditional stock market. Source: Skew Source: Skew When comparing recent Skew charts of Bitcoin’s relationship with Gold and the S&P...Read More
For the Bitcoin world, December 2017 was the glory days and the nightmare, all wrapped in one. Over that month, and the pullback that followed, the world saw what could happen if the hype around cryptocurrencies gave way to reality. Now, nearly three years on, Bitcoin’s press time price requires a 75 percent jump in...Read More
Popular TV host and long-time Bitcoin proponent Max Keiser believes that futures traders suppress Bitcoin’s price at current levels. However, once the asset explodes to Keiser’s intermediate target at $28,000, BTC’s amount for sale will evaporate as governments and institutions will purchase directly from miners. Keiser: Governments And Institutions Will Rush To Buy BTC Keiser...Read More
I get it. It’s always an either-or decision between Bitcoin and gold, as a pure investment play. Since the commodity and the cryptocurrency each have similar attributes of – a hedge, limited supply, and safe haven, these assets are used to balance the bottomless assets that are stocks, bonds, and cash. But does one edge...Read More
The 2020 market crash was godsent for the likes of Bitcoin and gold. These ‘safe-haven’ assets surged under the spotlight, climbing to record highs as stock markets and long-term treasury bonds both collapsed and countries reacted by slashing interest rates. The main reasons for buying these assets were immediately enhanced, and the price reacted as...Read More
Bitcoin, the world’s largest cryptocurrency, seemed to be on a bullish trajectory yet again, at the time of writing. This, despite the fact that for long, BTC has been accused of being either too volatile or moving too sideways. While the analysis drawn out over the past few months has alternated between derivatives impact, on-chain...Read More
Bitcoin has many rivals. But the one it really wants to displace is gold. Gold has been an investing ‘safe-haven’ for centuries, but digital gold is challenging its claim. The cryptocurrency claims to have more real-world transact-able value than gold. And what’s more, it can be easily stored, sent across the globe, and used as...Read More
What’s the point of a safe-haven asset? Well, for starters, it’s to keep one’s portfolio safe. Gold has long been seen as the traditional safe-haven asset among traditional investment avenues. Despite Bitcoin being a year into the financial world, it still hasn’t managed to budge the yellow metal. But, is gold doing its job? Let’s...Read More
After marking another price increase from $10,640 to $10,860, Bitcoin has slowed down around $10,750. Most larger-cap alts have remained relatively calm on a 24-hour scale. Binance Coin is once again the exception and BNB nears $30. Bitcoin Trades Around $10,750 As Bitcoin failed to reclaim $11,000 yesterday, the asset headed downwards and dipped to...Read More
After failing to reclaim the $11,000 level again, Bitcoin got rejected and dipped below $10,700. Most alternative coins have followed BTC’s move downwards, and the market cap has lost about $6 billion since yesterday. Bitcoin Fails At $11,000 In the past few days, Bitcoin made a few attempts to challenge the coveted $11,000 line but...Read More
Following a few days of severe price drops, the cryptocurrency market is in a state of recovery today. Bitcoin has surged from $10,300 to nearly $10,800, while Ethereum trades above $340. Bitcoin Bounced Off $10,130 After bottoming at $10,130 a few days ago, the primary cryptocurrency started recovering yesterday and hovered around $10,400. In the...Read More
After reclaiming some ground yesterday, Bitcoin has returned to its recent bearish trend by dropping below $10,300. Most altcoins follow with some notable price dips, resulting in a near $10 billion evaporated from the total market cap. Bitcoin Dips Below $10,300 As reported yesterday, the primary cryptocurrency recovered some of the recent losses and traded...Read More
Most of the cryptocurrency market is finally taking a breather after a few consecutive days of price drops. Bitcoin sits just shy of $10,500, but some large-cap altcoins like Ethereum are still displaying issues. Bitcoin Hovers Around $10,500 In the past couple of days, Bitcoin went from a top of $11,150 to a bottom of...Read More
The bitcoin-gold correlation has hit record levels, according to data from The Daily Shot, CoinMetrics, and skew. The correlation is being driven by economic and stock market turbulence, with institutional investors increasingly treating bitcoin as a haven hedge against inflation. Correspondence between gold and bitcoin prices will last for as long as the global economy...Read More
The cryptocurrency market cap lost about $18 billion of value since yesterday. Bitcoin plummeted by nearly $700 to $10,300 at one point, while the altcoins have it worse with some vigorous double-digit drops. Bitcoin Falls Hard Just a few days ago, Bitcoin attempted to overcome the psychological $11,000 level on two occasions. However, the asset...Read More
If you speak to someone who has heard of Bitcoin but doesn’t invest in it, their reason for the same would probably be something like this, “It’s too volatile for me! I’d rather stick to stocks and bonds.” Well, fair enough, but does it actually hold water? To answer this, we would have to put...Read More
MicroStrategy’s CEO Michael Saylor continues to dig deeper into Bitcoin after his company purchased $425 million worth of the cryptocurrency. In a recent podcast episode with long-time BTC proponent Anthony ‘Pomp’ Pompliano, Saylor claimed he’s ready to HODL Bitcoin for a century and said it’s 1,000 times better than gold. Saylor On His Change Of...Read More
Former hedge fund manager and current CNBC TV host Jim Cramer has changed his mind on Bitcoin. Appearing on Anthony Pompliano’s podcast, Cramer gave the reasons for his change of heart. Cramer Changes His Mind on Bitcoin CNBC’s Mad Money host has previously had a somewhat erratic relationship with Bitcoin. Although he claimed in 2017...Read More
Bitcoin’s 3.5% increase led to its highest price level in about 12 days, while also increasing its dominance over the market. The top 10 coins by market cap see more rotations, as some alts have followed BTC’s move upwards. Bitcoin Tops At $10,840 As reported yesterday, the primary cryptocurrency had issues with the resistance at...Read More