Bitcoin has continued to roar higher after our last market update. As of the time of this article’s writing, the cryptocurrency trades at $11,400. This is the highest price the asset has traded in approximately a year. This latest move higher is convincing bulls that bulls are in control after months of consolidation. Minutes ago, Read more…
It’s been an explosive past few days for Bitcoin. After starting last week at $9,200, the asset now trades above $9,900. BTC temporarily hit $10,200 on leading exchanges just hours ago. Some fear that the initial rejection at $10,000 is a sign that BTC has room to fall. A U.S. stimulus package set to be Read more…
For the past month, Bitcoin has effectively flatlined in an extremely tight consolidation pattern. Prices have been locked in a ~7% range between $8,900 and $9,400. Earlier this week, the cryptocurrency began to resolve the consolidation by inching higher. This culminated in a strong surge higher that peaked on Thursday, when BTC hit $9,650 on Read more…
Altcoins have seen explosive growth over the past few weeks, but Bitcoin has recently regained the spotlight. With BTC and Ethereum (ETH) seemingly poised to begin to trend, investors are hesitant to go long on altcoins. Certain altcoins are already seeing harrowing pullbacks, dropping dozens of percent from their local highs established earlier July. As Read more…
It’s been a strong day for scarce assets like Bitcoin, gold, and silver. These three markets are up strongly on a day where the S&P 500 struggled to register any gains after Monday’s surge. As of this article’s writing, Bitcoin is up 2.5% in the past 24 hours while the silver market has gained 5% Read more…
Unlike Bitcoin, the stock of Tesla (TSLA) has been on a tear over recent weeks and months. Just look at the chart below, which shows that the shares of the world-famous car company have gone parabolic. As mentioned, Bitcoin’s gains, by comparison, have been paltry. While Tesla shares are up by around 800% since June Read more…
Despite Bitcoin’s strong bounce from the March lows of $3,700, some remain decisively bearish on the leading cryptocurrency. Take Peter Schiff, for instance. The prominent gold bull and cryptocurrency skeptic recently wrote that he thinks the asset will soon break below $9,000, arguing that Bitcoin remains in the midst of a brutal bear market. “Gold Read more…
The last 48 hours of trading have witnessed Bitcoin decoupling from the US stock market. The cryptocurrency traded sideways with a bias modestly shifted towards bears. On the other hand, the S&P 500 moved in the opposite direction. This lack of short-term positive correlation coincides with a booming DeFi craze. Bitcoin appears to have decoupled Read more…
Save for the rejection at $9,500, Bitcoin has held up rather well on a macro scale over the past few days. As of the time of this article’s writing, the leading cryptocurrency sits at $9,200, holding the support in the $8,500-9,000 region. Unfortunately for bulls, BTC is purportedly forming a signal last seen before the asset Read more…
The Great Recession of 2008 spawned two things: Bitcoin and increasingly lower negative interest rates. To spur economic growth and ensure the stability of the macroeconomy, central banks around the world have been increasingly lowering their policy interest rates. In Japan and in much of Europe, interest rates are negative, meaning that banks get paid Read more…