Bitcoin price came in the middle of uncertainty this week as investors waited for Jerome Powell, the Federal Reserve chairman, to deliver his keynote address at this year’s Jackson Hole Symposium, an annual retreat that sees global central bankers breaking bread over high-profile economic table-talks. Mr. Powell’s speech is set to become a benchmark of…
Warren Buffett is the same person who once loathed the idea of owning gold or Bitcoin. The legendary investor trashed the precious metal back in 2000 by calling it an unproductive asset. He had a similar opinion about Bitcoin, a presumed digital gold that he called a “rat poison squared.” Buffett Turns Gold Bull On…
Bitcoin this week broke up its three-month-old relationship with the US stocks. The hottest cryptocurrency is now dating gold. A rebound relationship ensues. In non-Woody Allen’s terms, the short-term correlation between Bitcoin and the S&P 500 plunged this week – from 78.8 percent two weeks ago to 42 percent. At the same time, the cryptocurrency’s proximity with…
Last week, CoinStats discussed how Bitcoin investors should prepare for a stormy second half of 2020. So it appears, the raining has started in China. This Monday, the CSI 300 index, a collection of China’s most significant stocks listed in Shenzhen and Shanghai, surged 5.67 percent. It kept on rising higher further into the week, with…
It’s only halftime, and Bitcoin is leading the financial crisis sentiment by 1-0. During the first six months of the year 2020, the benchmark cryptocurrency experienced one of its biggest quarter-swings in more than two years. First, the coronavirus pandemic caused an unprecedented lockdown that soon resulted in a global market rout. Stocks fell, gold…
Bitcoin has rallied by more than 150 percent from its mid-March low of $3,858. But the cryptocurrency’s supersonic recovery risks fizzling out amid rising concerns about the next global market sell-off. A string of bearish macroeconomic catalysts, including quantitative tightening, could send Bitcoin price lower. Bitcoin price may find itself amid a global market storm…
Predicting Bitcoin price is no less than looking into a crystal ball. As the cryptocurrency leaves behind a trail of endless bullish and bearish fractals, it gives traders a grain of data to predict its next trend. The reality remains the same: the Satoshi Nakamoto’s p2p cryptocurrency is an erratic asset. Its market is tiny,…
Bitcoin attracts Wall Street investors as the stock market threatens to pause its V-shaped recovery. Grim economic outlook, under-performing bonds and gold, and rising number of coronavirus cases adds up to make a bullish case for bitcoin. If Bitcoin is a Stark, then the month of March was its Red Wedding episode. Out of nowhere,…
Bitcoin price prediction for 2020 is a mix-bag of bearish and bullish cases. Skeptics like Nouriel Roubini and Warren Buffett thinks that the bitcoin price is going to go to zero in the near future. Nevertheless, many believe that bitcoin could attain a six-figure valuation. Last week, Renaissance Technologies’ Medallion announced that it would allocate…
When Bitcoin was in freefall under the stress of Coronavirus last month, Anthony Pompliano was quick to fall back on a decade-old narrative for the cryptocurrency that has ensured investors of guaranteed profits. “Bitcoin halving,” muttered the co-founder & partner at North Carolina-based Morgan Creek Capital Management as he pitted the supply-slashing event against the…
