Markets

Tezos (XTZ) Longs on Bitfinex ‘Still Sky High’ After Crypto Surges 47% In Two Weeks

Tezos (XTZ), a smart contract blockchain built with formally verifiable code, has seen its price surge over 47% over the last two weeks, and analysts are pointing out long positions on the cryptocurrency are still “sky high.” According to CryptoCompare data, the price of XTZ has moved from little under $2.8 at the end of […]

Ripple Transfers 25 Million XRP, Jed McCaleb Cashes Out Another 10 Million

Ripple, the parent company behind XRP, transferred a whopping 25 million XRP while co-founder and former CTO Jed McCaleb cashed out an additional 10 million XRP.

Peter Brandt Criticizes Tether For Being ‘Another Fiat Currency’

Popular crypto trader and chart analyst Peter Brandt called Tether “another fiat currency” and said USDT’s influence over the market was an “accident waiting to happen.”

Bitcoin’s Price Correlation With Gold Hits New All-Time High

Bitcoin has reached an all-time high in monthly correlation to gold, leading to praise for BTC as a store-of-value asset.

Keiser: ‘Capital Flight out of Asia’ Will Take Bitcoin to New Price Highs

Max Keiser, bitcoin bull and host of the Keiser Report, says that capital flight out of Asian markets will utilize bitcoin and take the crypto-asset to new price highs.

Bitcoin Will Outperform Gold and Silver, Rich Dad, Poor Dad Author Robert Kiyosaki Predicts

Rich Dad, Poor Dad author Robert Kiyosaki predicted bitcoin would become the “fastest horse” in the race against precious metals and the S&P 500.

Crypto Derivatives See Second Highest Volume Ever in July: CryptoCompare Report

On July 27, after bitcoin surpassed the $10,000 mark, $46.91 billion worth of derivatives were traded. The day’s volume was second only to March 12, the day the price of bitcoin crashed nearly 50%. According to CryptoCompare’s July 2020 Exchange Review, Deribit’s options volumes stood out last month, as they set a new all-time high, […]

Top-Tier Crypto Exchanges Beat Riskier Platforms as Crypto Trading Volumes Recover

Top cryptocurrency exchanges have seen their trading volumes surge throughout July, so much so these now represent 60% of the crypto space’s total spot volume. According toCryptoCompare’s July 2020 Exchange Review, Top-Tier cryptocurrency trading platforms, those graded AA-B according to the firm’sExchange Benchmark, have seen their spot volumes increased by 42.1% to $334 billion last […]

As Dollar Weakens, U.S. Stocks, Gold, Silver, and Bitcoin Are Chasing New Highs

August 5 was an interesting day in the equities, precious metals, and crypto markets, with Nasdaq and gold setting new all-time highs, silver almost reaching an eight-year high, and Bitcoin surging over 4% against the dollar to break $11,750. Let’s start with the U.S. dollar. As MarketWatch reported earlier today, the “U.S. Dollar Index” (DXY)—which […]

20,000 Won’t Pose ‘Any Resistance’ for Bitcoin, On-Track for Six Figures: Max Keiser:

Bitcoin supporter and Keiser Report host Max Keiser predicted bitcoin’s rally would continue to $28K before reaching any resistance.

90% of Ethereum’s Supply Is in a State of Profit, Which Could Mean a Big Move Is Near

Over 90% of Ethereum’s circulating supply is now in a state of profit, which could mean a significant bearish move is coming in the near future, as the last time this happened the price of ETH dropped from $925 to $380 in 2018. According to research and analytics firm Glassnode, the percentage of the second-largest […]

Crypto Hedge Fund Shuts Down After Losing Half Its Money

Cryptocurrency hedge fund Neural Capital has shut down after losing half of its money since it launched back in 2017, when most cryptocurrencies rose to their all-time highs. According to CoinDesk, Neural Capital is now in the process of refunding investors’ money. The news outlet’s report cites three sources familiar with the matter, who claimed […]

Bitcoin Flirting With $11,500 After Nasdaq Sets a New All-Time High

According to data from CryptoCompare, around 16:15 UTC (i.e. 12:15 Eastern Time) on Monday (August 3), Bitcoin flirted with $11,500, reaching an intraday high of $11,476, which was 4.85% higher than the price it had at the start of the day. Due to the positive correlation between Bitcoin and U.S. equities that we have witnessed […]

Investor Dennis Gartman Is ‘Social Distancing’ in ‘Too Crowded’ Gold Market

Gold bug and long-time investor Dennis Gartman says he’s exiting the gold market which has become “too crowded” with retail investors going long.

Q2 2020 Statistics: A Surge in Registrations and Deposits Among Russian and Chinese Users

The decrease in cryptocurrency volatility, which has been ongoing for about two months now, has not significantly affected trading volumes in the second quarter of 2020. While user activity as a whole remained at the same level, two countries — China and Russia — showed significant growth in the number of new registrations and deposits. […]

Bitcoin Is a Safe Haven Rival to Gold, Says $10 Billion Advisory Group CEO

The CEO and founder of $12bn financial giant deVere Group says bitcoin is set to surge and has established itself as a safe-haven asset.

Open Interest in Ether Futures Hits $1 Billion All-Time High

The total value of contracts that have not yet been settled on Ethereum futures has now surpassed the $1 billion mark for the first time. According to data from market analytics firm Skew, first reported on by Decrypt, the aggregated open interest on ETH futures surpassed the $750 million mark earlier this year ahead of […]

World Will Not Adopt a Bitcoin or Gold Standard, Says Trader Who Called Bitcoin’s 84% Drop in 2017

Popular Twitter trader and market commentator Peter Brandt predicted the world would not return to a gold standard or rely upon “pet rock” cryptocurrencies to back fiat. 

First Crypto Hedge Fund Licensed in U.K. Shuts Down Over Insufficient Institutional Demand

The first cryptocurrency hedge fund to receive a stamp of approval from the U.K.’s Financial Conduct Authority (FCA) is shutting down over “insufficient” demand from institutional investors.

OKEx Expands Derivatives Offering With DOTUSDT and FILUSDT Perpetual Swaps

Popular cryptocurrency exchange OKEx is expanding its derivatives offering to its users with new DOTUSDT and FILUSDT perpetual swaps, shortly after it added DOGE margin trading and savings accounts.

Crypto Influencers Predict Global Economic Shift Will Favor Bitcoins Price

A group of crypto influencers and fund managers recently discussed the future of bitcoin, concluding that the changing global economic landscape would favor BTC. 

Bitcoin Could Soon Enter a Bull Run, Indicator Shows

Bitcoin’s Hash Ribbon indicator has signaled a “buy” for the second time in 2020, indicating a possible bull run ahead for BTC. 

Top-Tier Cryptocurrency Exchanges Are Gaining Market Share: CryptoCompare Report

CryptoCompare’ has published an updated version of its Exchange Benchmark, which was established in 2019 to help crypto users assess cryptocurrency exchange risks, and the findings show Top-Tier trading platforms are gaining market share.

Alt Season Is Back: DOGE, VET, ZRX, ADA, a KNC See Prices Skyrocket

The price of bitcoin has been relatively stable since the beginning of May. After dipping to a $4,780 low this year during the so-called crypto Black Thursday, BTC’s price recovered to the $9,000 mark as has been rangebound since, unable to break through the $10,000 barrier.

Crypto Trading Volumes Plummet in June, CryptoCompare Report Shows

Cryptocurrency trading volumes plummeted in June to “roughly half of the daily volumes” seen in May, according to the CryptoCompare June 2020 Exchange review report.

Crypto Quant Fund Exec Compares S2F BItcoin Model to Astrology

Nico Cordeiro, chief information officer for crypto quant fund Strix Leviathan, published a critique of bitcoin’s stock-to-flow model, comparing it’s prediction potential to that of astrology.

Kyber Network (KNC) Is up Over 650% YTD Thanks to Upcoming ETH Staking Rewards

The Kyber Network’ KNC token has seen its price rise over 650% so far this year thanks to an upgrade that will be introduced into the network this month, allowing users to stake tokens and earn ETH rewards while participating in governance.

New York-Based Asset Manager Secures $190 Million for Bitcoin Fund

The New York Digital Investments Group (NYDIG) has raised $190 million for a bitcoin fund called the NYDIG Institutional Bitcoin Fund LP, according to a filing with the Securities and Exchange Commission disclosing it.

Bitcoin Arbitrage 2020: Are There Still Profits to Be Made?

Bitcoin and cryptocurrency arbitrage has changed a lot over the years. As more trading bots and institutions try their hand at arbitrage, so does the strategy to try and capitalize on profitable arbitrage opportunities. The big question everyone has is “are there still profits to be made?” and I’m here to tell you that the answer is a resounding yes, but you’ll need to work for it and use the right tools.

Billion Dollar Asset Manager Files ETF With 5% Bitcoin Exposure

WisdomTree Investments, a New York-based asset manager with over $60 billion worth of assets under management, has filed for a commodity exchange-traded fund (ETF) with an up to 5% exposure to Bitcoin.

Dollar Will Crash 35%Triggering Crypto Bull Run, Former Morgan Stanley Chairman Predicts

Former Morgan Stanley Asia chairman Stephen Roach predicts the dollar will crash 35 percent in the coming years, which should benefit the price of bitcoin. 

$64 Billion Worth of Crypto Was Traded the Day Bitcoin Flash Crashed in May

A total of $64.7 billion worth of crypto was traded on May 10, a day in which the price of Bitcoin flash crashed  12% in only 15 minutes, a few days before the cryptocurrency’s block reward halving.

Crypto Derivatives Volumes Hit a $602 Billion All-Time High in May

Cryptocurrency derivatives volumes have soared to a new all-time high of $602 billion throughout the month of May, up 32% from April. 

Gold Has Entered All-Time High Territory, Goldman Sachs Still Hates It

Gold as back at its general ATH levels, but Goldman Sachs has looked at its data to determine that, most of the time, there are much better bets than gold. Most of the time.

In First Four Months of 2020, BlockTower’s Crypto Fund Outperforms Both Bitcoin and S&P 500

BlockTower Capital’s cryptocurrency hedge fund has defied this year’s coronavirus-induced mark crash to give investors who held the fund since its inception until this year a total return of 73%.

Bitcoins Declining Investor Sentiment and Liquidity Points Towards Bearish Downturn, Report

Crypto analytics firm Glassnode says a decline in bitcoin liquidity and investor sentiment points towards a bearish downturn. 

JPMorgan: Surging Gold Prices Reflect Lack of Confidence in Central Bank Currencies

JPMorgan analysts released a report claiming the surge in gold prices since the start of the COVID-19 economic crisis indicates a lack of investor confidence in central bank-backed currencies. 

Notable Bitcoin Trader and Whale Not Bullish on the Hyperinflation Narrative

If Alhambra Investments is to be believed, the demand for US dollars is not going anywhere, and is not going to hyperinflate. This spells trouble for the popular Bitcoin bull narrative.

Bitcoin Suisse Starts Letting Clients Trade Gold, Silver and Platinum

Swiss crypto broker Bitcoin Suisse has started letting its users trade gold, silver, and platinum against the top two cryptocurrencies bitcoin and ether, as well as against fiat currencies.

Facebook and Amazon Stock Hit New Highs as Stock Market Outperforms Economy

The price of Facebook (NASDAQ: FB) and Amazon (NASDAQ: AMZN) stock hit a new all-time high amid the coronavirus pandemic, as the stock market has been outperforming the economy.

Wall Street Cheat Sheet: Understanding Market Cycles

A couple of years ago, in 2017, the crypto markets went on an epic bull run. Between January and December 2017, we saw a 20x rise in the price of Bitcoin – and then the market crashed. Then, people shared a Wall Street Cheat Sheet chart.

Wealth Exec Peter Mallouk Advises Investing in Stocks Over Bitcoin

Peter Mallouk, chief investment officer for the wealth management firm Creative Planning, has urged young investors to avoid speculative assets like bitcoin in favor of traditionally stable stocks. 

Bitcoins Price Didnt Drop Because Coins From 2009 Moved, Popular BTC Whale Argues

Bitcoin whale JOE007 has argued against the narrative that bitcoin’s price drop was a result of Satoshi moving dormant BTC, instead saying that the market was over-extended from the halving. 

Silver (XAG) Should Be At $62 (+260%!) According to This Analyst

Citing both historical and physical ratio levels between gold and silver, plus gold’s current price of $1750, Dumb Wealth considers silver’s current value to be about $62.

‘Perfect Storm’ of Silver Demand Could Easily Send Price to $50

One prominent analyst says silver is massively undervalued, pointing to higher demand for precious metals amid a supply squeeze. This could send gold’s little brother soaring to $50 easily, which is silver’s old all-time-high.

Gold Testing All-Time-High as the Fed Signals Much More Pain Price Analysis

Gold, loved and hated in equal measure, has become a hot topic again as storm clouds continue building on the economic horizon.

Bitcoin Vastly Outperforming Gold So Far in 2020

Bitcoin has more than doubled gold’s gains year-to-date despite the emphasis on the latter as a safe haven asset amidst current economic volatility. 

Visa Files Patent Application for a ‘Digital Fiat Currency’ System

Visa has filed a patent application for a “digital fiat currency” system that could be used by central banks if it’s ever created. The proposed system could bridge the advantages offered by cryptocurrencies with those provided by fiat currencies.

Overstock (OSTK) Shares Are up Over 160% Year to Date

Cryptocurrency-friendly e-commerce giant Overstock (NASDAQ: OSTK) has seen the price of its shares surge so far this year, as traders who bet on OSTK are now up over 160%.

Gold Price Stalls Near $1,700 Amid Negative Interest Rates Speculation

The spot price of gold is stalling near $1,700 per ounce, while hold futures move slowly near the same mark, amid rising speculation the United States could soon adopt negative interest rates.

TSLA Price Stalls as Musk Reopens California-based Plant Defying Authorities

Elon Musk has re-opened Tesla’s California-based production facility, going against the county’s restrictions placed in response to the COVID-19 pandemic. 

Lower-Tier Exchanges See Second Highest Volume Ever in April: Report

As Bitcoin and the crypo industry recovers from its death-defying drop in March, we’ve seen a new #2 peak in total volume derived mostly from activity on lower-tier exchanges.

Morgan Creeks Mark Yusko Doubles-Down on Bitcoin Reaching $400,000

Morgan Creek Capital Management founder Mark Yusko doubled-down on his prediction that bitcoin would reach $400,000 within the next decade as the market capitalization begins to rival gold. 

Binance Was the Only Platform to See Derivatives Grow in April, CryptoCompare Reveals

Popular cryptocurrency exchange Binance was the only trading platform in the space to see its derivatives trading volumes grow last month, to a total of $108 billion.

Bloomberg Analyst Explains Why Bitcoin Is a Better Investment Than Gold

Bloomberg analyst Mike McGlone said the macroeconomic for bitcoin is becoming increasingly favorable amidst a rise in equities volatility and highlighted the advantages of BTC over its rival asset gold. 

Egyptian Billionaire Calls Airlines a Buy, Predicts Oil at $100 in 18 Months

Egyptian billionaire Naguib Sawiris said he saw opportunities in the airlines’ industry and predicted oil reaching $100 per barrel within the next 18 months. 

German Court Rebukes 1 Trillion ECB Quantitative Easing Program

A German court has ruled that the European Central Bank’s (ECB) quantitative-easing program is not backed by European Union treaties and have issued a three-month ultimatum to rectify the controversial measure.

Amazon Stock (AMZN) Stalls as VP Quits Over Whistleblower Firings

Amazon’s stock price has absorbed a slight hit after AWS VP Tim Bray quit, in response to a possible targeted firing of whistleblowers. But any negative impact should, by now, have been priced in.

Mega Hedge Funds Eye Gold as Governments Keep Printers Going

Some big hedge funds are playing up gold’s traditional angle, as a safe haven against potentially inflationary government spending. Although a notoriously curious dynamic, the threat of powerful inflation is again stoking these fears.

JPMorgan Raises Its Amazon (AMZN) Price Target to $3,000

JPMorgan upgraded its outlook for bitcoin from $2525 to $3000 on Friday, following the company’s firsts quarter earnings report.