Tag: opinion

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 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...

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...

Jul 24 2020

Bitcoin and Its Rebound Relationship with Gold

Jul 24 2020 Published at CoinStats Blog under tags  bitcoin btcusd cryptocurrency opinion

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... The post Bitcoin and Its Rebound Relationship with...

Jul 09 2020

Beware of a China-Induced Bitcoin Plunge

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... The post Beware of a China-Induced Bitcoin Plunge...

Jul 03 2020

Bitcoin Investors Should Prepare for a Stormy Second Half of 2020

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... The post Bitcoin Investors Should Prepare for a...

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