Blog: CoinStats Blog

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Author Yashu Gola,
Stats Has published 24 posts about cryptocurrency

Feb 17 2021

A $100,000 Bitcoin is Not a Meme Anymore

About three years ago, Morgan Stanley analyst James Faucette and his team sent a note to its clients about Bitcoin. In the paper, the group suggested that the actual value of the benchmark cryptocurrency, which was trading around $13,500 at that time, might be zero. Mr. Faucette might have been right to a point. The year...

Feb 01 2021

GameStop’s Short Squeeze and What It Means for Bitcoin

Who wins when an army of red ants attack a big-bulky elephant? That is pretty much the fight between retail traders and hedge funds as they attempt to make profits from an unloved GameStop stock. Bonus: it does leave a lot to grasp for the emerging Bitcoin industry. A Little Background For months, some Reddit users—led by an alpha going by the pseudonym...

Jan 06 2021

The Top Three Bitcoin Predictions for 2021

Jan 06 2021 Published at CoinStats Blog under tags  bitcoin bitcoin price

Happy New Year CoinStats followers, especially as Bitcoin explodes past $34,000, then corrects back below $30,000, and then moves back above $30,000. The price volatility—indeed—continues to pose risks for the faint-hearted. But what eases even the most quaking Bitcoin traders is its market's glowing long- term outlook. In retrospect, the cryptocurrency has surged by more than 300 percent in the last 12 months on...

Dec 21 2020

Bitcoin Price is Ready to Explode in 2021

Dec 21 2020 Published at CoinStats Blog under tags  bitcoin fed inflation tenet us dollar

If you wonder whether or not you should Bitcoin as it trades near its record high levels, the general narrative has only one answer: go ahead and don't look back. The post Bitcoin Price is Ready to Explode in 2021 appeared first on CoinStats Blog.

Dec 11 2020

The Best Ways To Lower Your Crypto Taxes in 2020

Dec 11 2020 Published at CoinStats Blog under tags  bitcoin crypto cryptocurrency opinion

One of the most powerful yet underutilized ways to reduce your crypto taxes is tax-loss harvesting. The post The Best Ways To Lower Your Crypto Taxes in 2020 appeared first on CoinStats Blog.

Nov 29 2020

Bitcoin’s Drop Has Done Little in Shaking Its Bullish Momentum

Nov 29 2020 Published at CoinStats Blog under tags  articles bitcoin btcusd cryptocurrency

Bitcoin has a crucial task ahead to determine whether its record-setting bull run in 2020 is a repeat of 2017's pump-and-dump scenario or its first step towards a long-term ascent. In the last seven days, the benchmark cryptocurrency signaled the former. Its price took a beating, falling more than 30 percent from its yearly high... The post Bitcoin's Drop Has Done Little in...

Nov 21 2020

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. The post Even Steven Mnuchin Couldn't Crash Bitcoin appeared first on CoinStats Blog.

Nov 16 2020

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... The post Why Gold Fell Drastically Last Week...

Nov 03 2020

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 post A Look Into Bitcoin and...

Oct 27 2020

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. The post The Pros and Cons of PayPal-Bitcoin Combo appeared first on CoinStats Blog.

Oct 14 2020

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. The post Should Bitcoin Traders Worry About Third-Quarter Earnings' Outcome? appeared first on CoinStats Blog.

Oct 09 2020

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. The post Bitcoin Begins Q4 With a Bang: Is $20K By Year's End Possible? appeared first on CoinStats Blog.

Sep 28 2020

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... The post Hopes for Bitcoin Rally as Americans...

Sep 23 2020

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... The post No $20,000 Bitcoin Until US Presidential...

Sep 14 2020

Bitcoin Stands Tall Ahead of FOMC Meeting This Week

Sep 14 2020 Published at CoinStats Blog under tags  articles bitcoin btcusd btcusdt crypto

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... The post Bitcoin Stands Tall Ahead of FOMC...

Sep 07 2020

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... The post Beware of What Comes after a...

Sep 03 2020

The Top Three DeFi Tokens of 2020 So Far

Sep 03 2020 Published at CoinStats Blog under tags  aave altcoins cryptocurrency defi lend

The cryptocurrency market is experiencing a deja vu, thanks to DeFi, a backronym for decentralized finance. The performance of every token listed under the said brand name is looking insanely bullish in 2020. It is very similar to how native tokens of a long string of initial coin offering (ICO) projects appeared in 2017. People... The post The Top Three DeFi Tokens of...

Aug 26 2020

Powell’s Jackson Hole Speech Will Leave Bitcoin More Bullish As Ever

Aug 26 2020 Published at CoinStats Blog under tags  bitcoin btcusd cryptocurrency opinion

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... The post Powell's Jackson Hole Speech Will Leave...

Aug 21 2020

What Warren Buffett Turning to Gold Means for Bitcoin

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... The post What Warren Buffett Turning to Gold...

Aug 01 2020

Jerome Powell is the Real Bitcoin Bull

Aug 01 2020 Published at CoinStats Blog under tags  articles

Nothing changed in the message the Federal Reserve delivered after concluding its two-day policy meeting on Wednesday. Jerome Powell, the US central bank's chairman, decided to maintain their benchmark interest rates near zero and pledged to offer more monetary support if necessary. As he delivered his monthly press brief, the US dollar index was falling... The post Jerome Powell is the Real Bitcoin...

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