Bitcoin is lauded as an “uncorrelated asset” in terms of how it performs compared to popular stock indices like the S&P 500 and other traditional financial markets. Recently, Bitcoin had shown some correlation with gold, strengthening the safe haven narrative that has been at the forefront of 2019. But Bitcoin has also shown correlation with…
The US Security and Exchange Commission (SEC) under the leadership of Chairman Jay Clayton will never approve a bitcoin exchange-traded fund (ETF), believes Jake Chervinsky of New York-based Kobre & Kim, LLP. The general counsel noted that Clayton and his team look at bitcoin as an asset that remains “susceptible to manipulation and surveillance-sharing agreements.”…
Hong Kong Free Press (HKFP) has fired BitPay, a US-based bitcoin payment processing service, over non-service. The independent media firm announced today that it is going to replace BitPay with its rival BTCPay, an open-source alternative to pay merchants online via bitcoin. HKFP projected BTCPay as better service, stating that it would allow donators to…
After a precipitous Bitcoin (BTC) price drop to $7,800 — a level which analysts have said will make or break the cryptocurrency bull run — on the weekend, investors were running scared. Related Reading: Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs But at the 11th hour, when all seemed lost,…
ETH price surged higher and broke the key $185 resistance against the US Dollar. The price is currently correcting lower after setting a new monthly high near the $196 level. There is a short term breakout pattern forming with support near $191 on the hourly chart of ETH/USD (data feed via Kraken). The pair could…
Since the start of the week, Bitcoin price has rallied from a retest of lows around $7,700 to $8,700 – gaining over $1,000 in value during the short timeframe. The rise in Bitcoin price was also yet another retest of the asset’s 200-day moving average, and what happens from here could determine the trend ahead.…
Bitcoin has started once again trading sideways after a breakdown from its previous trading range, and when Bitcoin trades sideways, altcoins often get their time to shine. Thus far in October, altcoins have outperformed Bitcoin by a wide margin, and according to crypto analysts, the surge in alts could last all month long and have…
Bitcoin loves to trade inside triangles. The leading crypto asset by market cap just broke down from a multi-month triangle and spent most of 2018 trapped inside a descending triangle that ultimately broke down. However, all of this price action may be part of an even larger symmetrical triangle formation dating back as far as…
Binance Coin (BNB) was trading in an extremely positive zone on Wednesday as its top rival bitcoin kept underplaying investors’ bullish expectations. The eighth-largest cryptocurrency by market cap surged by up to 11.73 percent to establish a session high of 2,289 sats. It attracted a similar capital from the fiat market, rising by 11.12 percent…
Bitcoin is about to become a hot asset as the US central bank goes ahead with its pseudo-quantitative easing program, believes a few bigwigs. Travis Kling, the chief investment officer at California-based Ikigai Asset Management, called bitcoin “an insurance policy” against Jerome Powell’s decision to resume Treasury purchases. The Federal Reserve chairman on Tuesday confirmed…