Bitcoin’s price fell below $60,000 on Tuesday and Wednesday after posting big gains over the weekend following the Fed’s pivot to lower interest rates. The spot price briefly peeked over $65,000 before coming back down. But Bloomberg’s McGlone is bearish despite the market’s moves. He thinks BTC’s apparent lack of enthusiasm might signal a slow-going...Read More
According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance. Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time...Read More
Over the past year, portfolio diversification has been an ardent topic of discussion. The rise of Bitcoin led to various debates about its inclusion in present-day investment holdings. While many traditional analysts are skeptical of a massive allocation for the crypto, some Bitcoin proponents would come across as over-ambitious putting 100% of their capital in...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
Time and again, the digital assets industry has witnessed a domino effect. In case you missed it, on 21st September, Bitcoin’s price declined by 6.46%, falling from $10996 to $10286. A little recovery was observed on the 22nd, but on the 23rd, the asset shaved another 3.82 percent. The bearish floodgates in the crypto market...Read More
Discussions involving Gold and Bitcoin in the same sentence are never far from making the headlines. Both the non-yielding assets have made significant strides in 2020 as the traditional stock market lost a bit of its credibility. With Bitcoin nearing $12,000 at the time of writing, Skew analysis suggested another ground-breaking development between the two...Read More
Bitcoin used to show a higher correlation to the stock markets, especially amid the lowest point of the pandemic. However, it has taken a different route during the last few days. Bitcoin-S&P 500 Correlation Departs from ATH Typically, Bitcoin is regarded as an independent asset that often acts as a safe haven. Its fundamentals are...Read More
Owing to its decade long correlation with the S&P 500 stock market index, Bitcoin stock-to-flow (S2F) model propounder Plan B thinks that BTC should have surpassed it’s previous ATH and hit the $25,000 price mark. ‘S&P Implied BTC Price: $25K .. Interesting Times Ahead!’ Plan B takes an interesting place amongst numerous other ‘Bitcoin analysts’...Read More
Although the altcoin market remains highly volatile, most price movements in the past 24 hours have been sharp retraces with a few exceptions. Bitcoin, on the other hand, remains stable and hasn’t left its familiar trading territory of about $9,150-$9,200. In the traditional financial markets, the three largest US indexes are in the green as...Read More
The first signs of decoupling became evident during yesterday’s trading session as the most prominent US indexes market 1-2% gains, while Bitcoin refused to follow and remained firmly in its $9,100 – $9,300 range. On the other hand, the altcoin market sees lots of double-digit price increases and has reduced BTC’s dominance to 62.3%. News...Read More
Bitcoin remains in its quite familiar range between $9,000 and $9,300 after a 2% increase from yesterday’s low. The most prominent US-based indexes registered similar increases yesterday, confirming the high correlation levels between the two asset groups. Bitcoin And Altcoins Recover As reported yesterday, the price for the primary cryptocurrency decreased to $9,050 on some...Read More
Despite world economies still feeling the adverse effects of the COVID-19 pandemic, most stock markets have recovered from the March losses, and some are even charting new highs. This has raised speculations that Bitcoin’s price may head south, and OKEx CEO Jay Hao recently offered his answer on the matter. Jay Hao Examines The Stock...Read More
Veteran market strategist Jeff Saut recently made a bold prediction that the S&P 500 index will skyrocket in the upcoming year to over 4,000. Having in mind Bitcoin’s increased correlation with the prominent US index, such a surge could be considerably beneficial for BTC’s price as well. Saut: The S&P 500 Above 4,000 Within A...Read More
The past 24 hours were somewhat positive for most financial markets, including the cryptocurrency field. While Bitcoin was on the rise and gained $300 intraday, the S&P 500 index and the Dow Jones are up by nearly 2%. Nasdaq marked a new all-time high after an increase of 2.2% Crypto Market Goes Up Although Bitcoin...Read More
Bitcoin was trading in a tight range over the past range, but the last few hours were marked with notable volatility. The price tumbled to $8,893 on Binance, but it bounced back to $9,240, charting gains of about $350. This happened as futures for legacy market indices and stocks are also trading in the green...Read More
Following an increase of 42% during Q2 2020, Bitcoin’s closing price of $9,140 was the third-highest position the asset has seen at the end of a quarter, trailing only to Q2 2019 and Q4 2017. On a yearly scale, BTC is also outperforming the S&P 500, WTI, gold, and the US dollar. Bitcoin Goes Up...Read More
Yesterday was a painful day for both cryptocurrency and stock investors as the prices tumbled in a similar manner. As CryptoPotato reported, the Dow Jones, S&P 500, and Nasdaq 100 lost sizeable chunks of their value of around 5%, and so did Bitcoin. This invalidated the narrative for the decoupling of crypto from traditional stock...Read More
Global stock markets are tumbling today as fears of a second coronavirus (COVID-19) wave grow stronger. Reports have it that there’s a rising trend of new cases in the US and across the world, and this has evidently taken its toll on the economy as well. Equities Tumble Amid Fears of Coronavirus Reignition The World...Read More
Global equity markets have had a spectacular run following the crash in mid-March. The S&P 500 has almost fully recovered, while Nasdaq is already charting new all-time highs. However, according to the CEO of the popular trading platform eToro, Yoni Assia, there’s a crash coming sooner than most expect it. Wall Street’s Impressive Rally At...Read More
Institutional investors have been wary of the cryptocurrency field, and one of the main arguments for that falls on the volatility of their price. It’s not unusual for a random altcoin to pop and surge 100% in a day without any evident reasons or based on a seemingly unimportant announcement. However, legacy markets don’t seem...Read More
To say that this week has been a wild ride is definitely an understatement. Bitcoin’s price went nuts and kept everyone on edge. In the span of 24 hours, BTC went to surge from $9,400 to almost $10,500 and then back to $9,400 and even lower down to $8,600 on BitMEX. This whole ordeal saw...Read More
The University of Sussex recently published a paper regarding the performance of Bitcoin and gold during the COVID-19 pandemic. The research team behind the project believes that both assets failed to serve as safe-havens, primarily because of significant market manipulations. Bitcoin And Gold Failed In The 2020 Crisis? The sudden outbreak of the COVID-19 pandemic...Read More
Legacy markets have almost entirely recovered from their sharp downturn in the middle of March. It appears that the adverse effects of the novel coronavirus COVID-19 are well behind. Despite the doom-and-gloom predictions of many economists, major indices are going up steadily. The S&P 500 Down Just 10% From Its February Levels The S&P 500...Read More
Bitcoin’s halving is behind us, and its price is nothing but soaring. Moreover, BTC is surging while legacy markets continue their downturn, strengthening the narrative that the cryptocurrency keeps on decoupling. Bitcoin Price Soars 9% in Less Than Three Days Bitcoin’s halving took place a little more than 48 hours ago. At the time, BTC...Read More
Bitcoin’s halving is right around the corner. It will slash the block reward miners get from minting new bitcoins in half and potentially reduce the supply of the cryptocurrency on the market. Historically, this has been a major bullish catalyst for Bitcoin as its price has so far increased substantially after the two previous halvings....Read More
Bitcoin’s price increased substantially over the past few days, breaking a lot of important resistance levels on its way up. The cryptocurrency touched $9,500 but has since retraced to its current trading price at around $8,900. In any case, this staged it for a full recovery from the mid-March selloff while equity markets are yet...Read More
Top global assets closed the month of April in the green, with Bitcoin coming through as the best-performing asset of April. BTC was up roughly 34%, rising from the $6,400 range at the start of the month to just over $8,700 on the last day. The S&P 500 gained 12.7% while gold rallied by $6.7%...Read More
The latest positive price developments in the cryptocurrency scene have helped Bitcoin to reclaim its position as the best performing asset in 2020. BTC is currently beating the S&P 500 index, US 10 year treasury bonds, and even gold. BTC’s Recent Price Jump 2020 has been nothing but volatile for the cryptocurrency market. Looking at...Read More
Bitcoin made a serious move in the past few hours as its price soared up to above $7,720 in just a few minutes. Legacy markets followed as the S&P500, the Dow, as well as gold and oil are all trading in the green. Bitcoin Price Surges to $7,700 In a few quick hours, Bitcoin’s price...Read More
Having suffered losses due to the COVID-19 led market onslaught, both Bitcoin and the United States stock market have had a good month. However, one analyst has pointed out how Bitcoin’s recovery has been entirely driven by market forces, while stocks have been rallying on the back of government intervention. Bitcoin Recovered Without External Intervention...Read More
