Even Steven Mnuchin Couldn’t Crash Bitcoin
BTC/USD finally showed strengthening signs of becoming an independent asset. The cryptocurrency’s lack of responsiveness to Mr. Mnuchin’s anti-economy proved its resilience.
Why Gold Fell Drastically Last Week and Bitcoin Didn’t
At one point on Monday, Bitcoin was down 4.30 percent from its opening rate at $15,482. Traders who considered the cryptocurrency as their true hedge against the economic meltdown led by the coronavirus lockdowns suddenly felt the need to not holding it. The reason was simple: they thought there won’t be extended lockdowns in the…
A Look Into Bitcoin and Its Performance Around US Presidential Elections
The first time Bitcoin witnessed a US election was when it was only three years old. The cryptocurrency was about to celebrate its second anniversary as a tradable financial asset on now-defunct Mt. Gox exchange – even as half of the world assumed it was a scam, a Ponzi scheme, a terrorist financing/money laundering tool, and…
The Pros and Cons of PayPal-Bitcoin Combo
With a history of firing nasty comments at Bitcoin, the Wall Street mammoth, ranging anywhere from “bubble” to “financial scam,” appeared with candies in its hands this time.
Should Bitcoin Traders Worry About Third-Quarter Earnings’ Outcome?
The dilemma was the same at the beginning of July 2020: could or could not Wall Street earnings influence the Bitcoin price trend? Entering October 2020, the market has some clues about it.
Bitcoin Begins Q4 With a Bang: Is $20K By Year’s End Possible?
A battered final month of the third quarter signaled more pain for Bitcoin, a decentralized cryptocurrency known for hedging global market risks and enabling cheaper and quicker cross-border payments.
Hopes for Bitcoin Rally as Americans Prepare for Second Coronavirus Stimulus
Steven Mnuchin was one of the biggest catalysts behind the Bitcoin rebound last week. The US Treasury Secretary, known for having an ill-opinion about the cryptocurrency, sat alongside his knee-shaking buddy, the Federal Reserve Chairman Jerome Powell, before the Senate Banking Committee on Thursday. He testified about the coronavirus’s impact on the US economy and…
No $20,000 Bitcoin Until US Presidential Election 2020
For months, the Bitcoin price rose this year – regardless of a fast-spreading pandemic, the resulting economic turmoil, and poor evaluations by the mainstream media houses. Then, in September, the cryptocurrency came crashing down. It was March 2020 all over again, minus severity. Bitcoin established a year-to-date high near $12,500, started correcting lower on profit-securing…
Bitcoin Stands Tall Ahead of FOMC Meeting This Week
On Sunday, Bitcoin experienced a brief pump-and-dump. The BTC/USD exchange rate was able to break above $10,400, a resistance that capped the pair’s upside outlook for almost two weeks. Bitcoin eventually formed a session top above $10,500 only to find later that the area was full of profit-taking traders. A pullback ensued and the cryptocurrency…
Beware of What Comes after a Strong Bitcoin Rally
Bitcoin fell below $10,000 this weekend even as a majority of crypto warriors on Twitter were expecting a supersonic price boom towards $13,000, $14,000, $15,000, $20,000, and beyond. That was obvious for most of us. Bitcoin had every ingredient to dish out a delicious bull run. A central bank that committed to raise inflation rates…