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Bitcoin And Stocks Rally Despite Declining Correlation

Source Node: https://www.bitcoinmarketjournal.com/bitcoin-and-stocks-rally-despite-declining-correlation/
Time Stamp: August 6, 2020 10:37 AM - Modified On: May 21, 2021 - Published By:
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Sure, it was loosely correlated for a while there, but by now, bitcoin and the crypto markets are once again able to claim independence from the traditional markets. In short, and even though measuring correlation can be quite complex, I think this graph pretty much sums it up. What we’re seeing here is the 90-day Pearson correlation between bitcoin and the S&P 500 since 2011. We can clearly see earlier this year, where the correlation spiked up to 0.6 due to the multi-asset early-pandemic sell-off. By now, however, we’re once

UBS Expects Gold to Hit $2,000; What Does It Mean for Bitcoin?

Source Node: https://bitcoinist.com/ubs-expects-gold-to-hit-2000-what-does-it-mean-for-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=ubs-expects-gold-to-hit-2000-what-does-it-mean-for-bitcoin
Time Stamp: August 4, 2020 2:50 AM - Modified On: May 21, 2021 - Published By:
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UBS Global predicts that gold would climb to $2,000, at least by September, just as the metal’s correlation with Bitcoin reaches a new high. Wayne Gordan, executive director of Commodities and Forex at UBS, projected negative US real yields as the core reason behind the increasing bids for gold. The other key point, Mr. Gordon stated, is the ongoing plunge in the US dollar. Bitcoin traders should brace for a decent upside momentum led by the gold market. It is because of the increasing realized correlation between the two assets.

Cryptocurrency News Roundup for Aug 3, 2020

Source Node: https://beincrypto.com/cryptocurrency-news-roundup-for-aug-3-2020/
Time Stamp: August 3, 2020 3:43 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Bitcoin started the week on a positive note after an unusually volatile weekend by recent standards. The BTC/USD price temporarily reached a local high of over $12,000. The eventful weekend was preceded by a credit-rating downgrade from Fitch who placed a “negative outlook” on the United State’s triple-A rating on Friday. Fitch added that a “resurgence of inflation” could be on the cards, which would in turn force the Fed to increase interest rates. It would be interesting to see the effects that would have on Bitcoin and its brethren.

There’s More To Bitcoin’s Rally Than Just Inflation Fears

Source Node: https://medium.com/the-capital/theres-more-to-bitcoin-s-rally-than-just-inflation-fears-418c7b168753?source=rss-------8-----------------cryptocurrency
Time Stamp: August 1, 2020 12:15 AM - Modified On: May 21, 2021 - Published By:
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While some analysts are pointing to inflation fears to explain bitcoin’s recent rally, there are so many other factors at play that affect the cryptocurrency’s rise.Neil Johnston was a creature of habit, and it was one of the things which his wife of twenty-four years Dorothy, both loved and loathed about him. While Dorothy appreciated Neil’s dependability, she was wondering if things were getting a little stale.So naturally Dorothy grew a little worried when Neil, who would walk through the door almost like clockwork at 7 pm every evening for

Bitcoin Doesn’t Care as US Debt Reaches an Unfathomable $24 Trillion

Source Node: https://cointelegraph.com/news/bitcoin-doesnt-care-as-us-debt-reaches-an-unfathomable-24-trillion
Time Stamp: April 9, 2020 4:39 AM - Modified On: May 21, 2021 - Published By:
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The national debt of the United States has crossed $24 trillion for the first time in history as Donald Trump’s presidency adds $4 trillion in four years.According to figures from online monitoring resource Trading Economics, the tally now stands at $24.018 trillion as of April 9. The amount is equal to $72,888 for each U.S. citizen, or $193,805 per taxpayer.U.S. massive debt mountain mushroomsThe almost incomprehensible size of national debt comes weeks after the Federal Reserve began an unprecedented money printing program. Providing $6 trillion of liquidity, the Fed led responses

Is Bitcoin Becoming A Safe Haven After All?

Source Node: https://medium.com/@thecryptoconsultant/is-bitcoin-becoming-a-safe-haven-after-all-1be6a61f1175?source=rss-------8-----------------cryptocurrency
Time Stamp: April 9, 2020 3:27 AM - Modified On: May 21, 2021 - Published By:
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Questions are raising, after central banks flood markets with rescue money.Central banks in the US and EU are putting together rescue packages to deal with the corona crisis that is currently infecting stock markets around the world with panic. While the measures largely fizzle out, Bitcoin is recovering without any help at all. Was it too early to write off Bitcoin as a lifeboat?Is the big wave still coming? (Photo by Jeremy Bishop on Unsplash)If you have already dealt with Bitcoin, you certainly know: the maximum number of Bitcoins is

‘Rich Dad Poor Dad’ Author Says Gold, Silver, and Bitcoin Lie Outside the System

Source Node: https://cointelegraph.com/news/rich-dad-poor-dad-author-says-gold-silver-and-bitcoin-lie-outside-the-system
Time Stamp: April 8, 2020 9:06 PM - Modified On: May 21, 2021 - Published By:
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Millionaire businessman and author of the book Rich Dad Poor Dad, Robert Kiyosaki, mentioned Bitcoin (BTC) numerous times in a podcast interview with Morgan Creek Digital co-founder, Anthony Pompliano, referring to the asset as an escape.“The reason I endorse Bitcoin is because is just for one frickin reason — you’re not part of the system,” Kiyosaki said. “It’s a separation of government and my money,” he laughingly added, quoting sentiment Pompliano has expressed many times.   Uncertain times can spurr flight to safetyThroughout the interview, Kiyosaki riffed on many concepts through the

Bitcoin Naysayer Jamie Dimon Praises $2 Trillion Stimulus While Predicting Great Recession

Source Node: https://cointelegraph.com/news/bitcoin-naysayer-jamie-dimon-praises-2-trillion-stimulus-while-predicting-great-recession
Time Stamp: April 7, 2020 6:04 PM - Modified On: May 21, 2021 - Published By:
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JPMorgan Chairman and CEO Jamie Dimon praised the U.S. government for quick action in the wake of COVID-19, yet he criticized it for not having a “pandemic playbook.”Dimon is mostly known among the crypto community for his derisive statements about Bitcoin (BTC). In September 2017, Dimon called Bitcoin “a fraud” right before its historical peak.  On another occasion he said:“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”A few months later, he acknowledged regretting those statements. (And when JPMorgan subsequently announced the JPM Coin,

After a Volatile Week, Bitcoin Opens Higher on Monday

Source Node: https://www.bitcoinmarketjournal.com/bitcoin-opens/
Time Stamp: April 6, 2020 2:42 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

As we see strong signs of stabilization throughout Europe, the situation in the U.K. seems to be getting worse. Not only has the prime minister himself now been admitted to the hospital, but the number of confirmed cases has seen a significant spike to nearly 6,000 yesterday. Last night, the queen herself addressed the nation in a brief but extremely moving speech. Over in the U.S., the president has mentioned that the peak is near. Yet, even in Asia, leaders are finding it difficult to lift the lockdowns and travel

April Fools, Celebrity Scams, & Manipulated Markets: Bad Crypto News of the Week

Source Node: https://cointelegraph.com/news/april-fools-celebrity-scams-manipulated-markets-bad-crypto-news-of-the-week
Time Stamp: April 4, 2020 3:56 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin seems to be settling happily above $6,000 and is currently just north of $6,500 again. Let’s hope we’ve seen the last of those $5,000 movements and we’re ready for a steady climb back to double figures before the halving in mid-May. It’s getting closer.In the meantime, the Federal Reserve now appears to have merged into the federal government. An opinion piece in Bloomberg has described how an alphabet soup of financial programs intended to help the economy through the current crisis is allowing the government to buy up securities