Bitcoin price could attempt a close above $10,000 as Morgan Stanley predicts a V-shape global recovery by the fourth quarter. Economists at the investment banking giant expect global GDP to shrink by 8.6 percent year-on-year but rebound to 3.1 percent by Q1/2021. Aspects of a full recovery could increase investors’ risk appetite, thereby benefiting Bitcoin Read more…
Bitcoin has faced down many setbacks over recent years. BTC trading has been banned by the Chinese government. Executives from Goldman Sachs and other institutions have come out against the cryptocurrency. And there still is a broad sense of mystery that surrounds Bitcoin and cryptocurrencies in the public, thus limiting adoption. Yet there remain prominent Read more…
In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap. Its website states the company has $6.229 Billion in assets. Trading of Bitcoin futures contracts has become more popular as crypto traders Read more…
Over the past few hours, Bitcoin (BTC) has started to tank lower once again, reaching $9,350 just an hour or two ago on some exchanges. The asset has since seen a slight bounce, returning to $9,400. This means that in the past 24 hours, the price of the leading cryptocurrency has fallen by 3.25%, crushed Read more…
The year is coming to an end, and a lot of people have started thinking about minimizing their tax burden. If you’re a bitcoin investor, things get even more complex. The IRS recently sent out 10,000 letters to cryptocurrency investors, and this is an indication of how serious they are when it comes to cryptocurrency Read more…
Nvidia has urged a US judge to dismiss a case brought by investors who say it misled them over crypto mining revenues. The company claims that the plaintiffs had cherry-picked information and relied on analysts who were clearly speculating on its financials. Lack Of Transparency Over Crypto-Mining Demand The case was initially brought, back in December 2018, Read more…
The phones are ringing off the hooks at the New York offices of BitOoda, a financial services and brokerage firm that advises bitcoin mining companies and investors in the bitcoin space on investment strategies and risk management. Ryan Porter, head of business development at BitOoda, told Bitcoin Magazine that there’s lots of interest, including from Read more…
The US stock market rally in 2019 surprised skeptics, as indexes continued to surge despite underwhelming performance and setbacks for the FAANG stocks. But Wall Street pundits are predicting that 2020 will be sluggish. Will Bitcoin and crypto markets get all the attention then? S&P 500 Expected to Deliver Single-Digit Returns 2020 may be the Read more…
The Bitcoin (BTC) market has evolved to include the simplest kind of derivative financial products – futures contracts. Those markets now reach $5 billion in daily volumes, taking a significant chunk from spot trading markets. Bitcoin Price Discovery Shifts to Futures Markets Bitcoin price discovery mechanisms have shifted in 2019, as the effect of futures Read more…
The Bakkt Bitcoin (BTC) futures set a daily trading record, just as the leading coin crashed from $8,000 to under $7,000 within a 24-hour period. Bakkt Activity Shot Up on Day of Rapid Losses for BTC Activity shot up on the Bakkt exchange, from the usual daily interest above 1,400 traded contracts. Open interest exceeded Read more…