Gold outperformed Bitcoin on Wednesday as an impeachment inquiry into US President Donald Trump triggered demand for safe-haven assets. The yellow metal came near its three-week peak, with its spot trading at $1,530.29 per ounce as of 10:00 UTC. At the same time, US gold futures surged 0.1 percent to $1,538.30. Bitcoin, unlike Gold, trended…
Whenever Bitcoin prices fall off the cliff industry observers scramble to find a reason beyond the technical indicators. Something fundamental must have caused the crash and one industry executive has fingered the FED’s recent market meddling. FED Repo and Bitcoin Related? Last week the US Federal Reserve pumped more than the entire crypto currency market…
In what has been one of the largest 24 hour market dumps this year over $30 billion has been dumped from crypto assets. Bitcoin reached the end of its bearish triangle pattern and dumped hard down to a three month low at $8,000. Bitcoin Crashes 17% Many had predicted a huge drop to long term…
After incurring some massive upwards momentum over the past several days and weeks, Ethereum has now faced a significant influx of selling pressure that has sent its price reeling to lows of roughly $190, and without any major change within the aggregated crypto markets, it is highly likely that ETH will continue facing significant downwards…
The total cumulative power of the computer systems mining the Bitcoin blockchain has plummeted by around 30 percent today. The sudden downtrend started just before the launch of the much anticipated Bakkt platform yesterday. Although the timing of the sudden drop seems to suggest that it may have had something to do with Bakkt, there…
Bitcoin’s price action has proven to be quite bearish as of late after it failed to hold above its key support level around $10,000. The drop below this level has led BTC to a key support level in the $9,000 region, and a failure to hold above this support level could lead to a massive…
After bitcoin popped and fizzled last year, no institutional body was willing to touch it. Banking giant Goldman Sachs abruptly went quiet on its proposals to open a digital asset trading desk. Meanwhile, JP Morgan Chase head Jamie Dimon last October said that he does not “give a shit” about bitcoin. Deja Vu This year…
It is difficult for central banks and governments to deny and ban bitcoin amid a recession, according to prominent market analyst PlanB. The Twitterati on Tuesday said the cryptocurrency needs to show a negative correlation with the macroeconomic market: such that the value of one variable increases while the other decreases. The next recession is…
In short, no. Bakkt’s bitcoin futures launch yesterday was underwhelming but it has not had any impact on crypto markets which are doing exactly what they have done for the past couple of years. Another Slide For Crypto Assets Another day another dump. There is nothing out of the ordinary with today’s market action which…
In a recent interview, Blockstack boss Muneeb Ali said he was cautiously optimistic about the US regulatory environment for crypto. The comments follow further hearing from US regulators on the crypto space and its emerging players. Cautiously Optimistic on Crypto The co-founder and CEO of decentralized computing network Blockstack, joined CNBCs ‘Squawk Box’ to discuss…