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
Most of the cryptocurrency market is retracing on a 24-hour scale despite increasing in value intraday. Bitcoin surged to nearly $10,500 but is back below $10,300, while Ethereum dips to $360. Bitcoin Stopped At $10,500 The positive news for the primary cryptocurrency is that its price remains in the five-digit territory. In fact, Bitcoin even...Read More
Macro-scale data reveals that the correlation between gold and Bitcoin has surged in 2020, registering a new all-time high. Although both assets are in the green year-to-date, Bitcoin is still outperforming the precious metal, despite the recent price drop. BTC-Gold Correlation At ATH According to data from the analytics company CoinMetrics, the 60-day correlation between...Read More
Spencer Schiff, the son of the well-known economist, gold-bug, and permanent Bitcoin basher Peter Schiff, recently purchased an undisclosed amount of BTC. Aside from criticizing the primary cryptocurrency once again, his father prompted the community to send Spencer a belated birthday present, not in gold but in BTC. Schiff Jr. Appreciates Bitcoin, Unlike His Dad?...Read More
It has long been questioned as to why Bitcoin is priced in U.S. dollars when they are two entirely different entities. One is an inherently weak currency that has been continuously devalued for almost 50 years, and the other is a mathematically finite digital store of value. In a recent blog post by entrepreneur, Sylvain...Read More
Theory Behind $500K Bitcoin Bitcoin price prediction is the most desired topic for most of the crypto followers, and also the most-watched too. The very first reported Bitcoin Billionaires, Winklevoss brothers, puts out the most bullish ever prediction. The logic behind the prediction is pretty uncomplicated, he believes Bitcoin would overtake the market by surpassing...Read More
Gold, oil, and even the US dollar, which have served as a reliable store of value for years, could soon lose that status, according to the Winklevoss twins. According to them, Bitcoin is the value to substitute and when this comes, it could facilitate a surge in its price to $500,000 and beyond. The Major...Read More
In a statement released an hour ago, the Chairman of the US Federal Reserve, Jerome Powell, revealed a serious policy shift aimed at average inflation targeting. As a result, the prices for gold, silver, and Bitcoin pumped collectively immediately after the announcement. However, all three assets have also decreased in a similar manner minutes after...Read More
In its latest report regarding Bitcoin, the leading digital asset management firm Grayscale has outlined the growing HODLing mentality from BTC investors, rather than so-called speculators. The company also asserted that store-of-value investment tools such as BTC are becoming more attractive to institutional investors, which could prompt a massive price surge soon. Bitcoin’s Growing Metrics...Read More
If you had purchased $1000 worth of Bitcoin (0.13BTC) on 1 January 2020, it would be worth $1509.10 today. On the contrary, an investment of $1000 in Gold on the same day (0.65 oz) would be worth only $1277.10 today. Furthermore, if you had purchased $1000 worth of Bitcoin in 2013, your investment would be...Read More
Most of the cryptocurrency market is in red today. Bitcoin tanked to $11,400 briefly, but large-cap alts are losing more substantial chunks of value, thus helping BTC to reclaim some ground in terms of market domination. Bitcoin Drops Further BTC looked promising yesterday as the asset headed for another face-off with its well-known nemesis at...Read More
Bitcoin’s run above $12,000 was short-lived as the asset has tanked by 4% in the past 24 hours to $11,800. However, BTC’s dominance over the market has increased slightly as most altcoins have plummeted as well. Bitcoin Fails To Stay Above $12K Bitcoin’s latest attempt to conquer $12,000 seemed successful at first glance, unlike the...Read More
Bitcoin bulls have successfully retained its price above the psychological $12,000 level after yesterday’s push.Elsewhere, Chainlink retraced considerably since marking consecutive ATHs, while Yearn.Finance reached a fresh all-time high just a few hours ago. Bitcoin Price Holds $12,000 The primary cryptocurrency attempted to overcome the $12,000 mark a few times this year without any success....Read More
If you were to use one word to describe the Bitcoin market right now, it would be “strong.” For the past three weeks, the world’s largest cryptocurrency has been trading at a level over $10,000, a feat it has managed only 14 times since the 2017 bull run. Prior to this run, Bitcoin was in...Read More
Bitcoin has responded to the rising altcoins and just pumped to a new yearly high of over $12,400. By doing this, the primary cryptocurrency has increased its dominance over the market after reaching a new yearly low earlier today. Bitcoin To $12,400 and Beyond? As CryptoPotato reported earlier, Bitcoin stood still at $11,800, while many...Read More
Although the prominent US investor Warren Buffett has never been a fan of gold in the past, he recently made a sizeable investment in Barrick Gold Corp while reducing his exposure to his favorite sector, banks. Similiar with gold, Buffett has been bashing “the new gold,” Bitcoin, and this raises the question of whether he...Read More
Leaving aside the fact that Bitcoin has been a strong ‘buy’ for a number of years [except 2015 and 2018, if we’re being picky] short-term traders get very anxious looking at the immediate price movement of Bitcoin. In times like these, it is better to be a hodler than a trader, but what if there...Read More
Although gold and Bitcoin are considered similar asset classes because of their maximum supply, that of the precious metal may increase substantially in the following years if Elon Musk’s SpaceX decides to mine gold and other metals from asteroids. While explaining the merits of Bitcoin to the popular Wall Street trader Dave Portnoy, the Winklevoss...Read More
