Bitcoin crashed within minutes to erase all the gains it made heading into the year 2020.The benchmark cryptocurrency plunged to $5,578 on Coinbase for the first time since May 2019. The move downhill led its market cap down by about 30 percent to $117 billion, logging one of the biggest declines ever recorded since its…
The emerging asset class of cryptocurrency is new, unproven, not yet widely adopted, or even understood. It’s led to much confusion for investors especially when it comes to regulation and tax preparation.However, a new cryptocurrency-focused bull currently in front of Congress will “fundamentally restructure the way the United States treats cryptocurrency,” by grouping assets into…
Bitcoin bounced after Sunday’s steep declines, which had seen the cryptocurrency logging its worst daily performance since September 2019.The bitcoin-to-dollar exchange rate on Tuesday jumped 2.21 percent to establish a new intraday high at circa $8,094. The pair’s rebound, which appeared almost like a “dead cat bounce,” raised hopes for extended bull trend, with prominent…
A textbook technical scenario brewing inside the bitcoin market could send its prices above $14,000.Crypto analysts highlighted earlier this week the potential formation of an Inverse Head and Shoulder (IHS) pattern. Investopedia defines it counter, which is called Head and Shoulder Pattern, as a “reliable” indicator in predicting an asset’s bullish-to-bearish trend reversals. Therefore, its…
It goes without saying that Bitcoin’s price action over the past few weeks has shaken many digital asset investors in the industry. The crash from $10,000 to $8,400 liquidated dozens of millions worth of leveraged positions, forcing many on the sidelines, data from Skew.com shows.Unfortunately, the cryptocurrency is likely to retest $8,400 once again, a top analyst has…
The Federal Reserve’s emergency interest rate cut this week highlighted that the central bank is anticipating the troubled times ahead. Raoul Pai, the CEO of Real Vision Group, says Bitcoin, like gold, is emerging as a worthy hedge against the potential demise of the dollar.Pai also says there is currently a massive effort to entirely…
Could anxious investors treat bitcoin as their safe-haven amidst Coronavirus uncertainty? Yes. But that doesn’t make the cryptocurrency the only fish in the big pond of insurance assets.Investors are now looking beyond the traditional narratives of a safe-haven. They are relying on unique assets to protect their capital. That explains why a soup company’s stock…
India’s central bank wants to restore its crypto trading ban in the country, according to sources cited by Economic Times.The regional media house reported earlier Friday that the Reserve Bank of India is preparing to file a review petition in the Supreme Court against a ruling that effectively unbanned cryptocurrency trading in the country. RBI…
Bitcoin holds above a key support level of $9,000 amidst growing demand for safe-haven assets.The cryptocurrency is eyeing a break above $9,500 to confirm a medium-term bullish bias.Rising cases of Coronavirus in the US has led investors to withdraw from equities this week. Gold and bonds have inched higher, meanwhile.The last couple of weeks saw…
Crypto markets are in the green today with leading digital currency Bitcoin gaining around 4 percent over the last 24 hours. The reason behind the sudden pump after a lull in the markets appears to be news out of South Korea.Earlier today, lawmakers made amendments to the nation’s financial regulations regarding crypto. Many publications, crypto…