Financial Industry News
Bitcoin (BTC) was higher for a second day, staying in the past two weeks’ range of between roughly $34,000 and $40,000. “This period of consolidation is building a solid base, giving those who wish to sell bitcoin plenty of time,” according to the cryptocurrency exchange firm Diginex. Ether (ETH), the second-biggest cryptocurrency, rose Tuesday to […]
Continue ReadingEther (ETH), the native cryptocurrency of the Ethereum blockchain network, has broken its previous all-time price high, according to historical data on some major exchanges. Prices surged on Tuesday to reach $1,439.33 – that’s over Bitstamp’s recorded high of $1,420. Coinbase and Bitfinex have previous record peaks listed around the same level. At press time, […]
Continue Reading“Long bitcoin” – a bullish bet on the top cryptocurrency – is now the most crowded trade in financial markets, according to Bank of America’s January survey of fund managers. Published by Reuters on Tuesday, the research is evidence of the growing popularity of bitcoin as an investment asset. Widely touted as a digital gold […]
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Continue ReadingJPMorgan analysts see bitcoin’s price tag of $40,000 as a key battleground that bullish traders need to retake in order for the cryptocurrency’s meteoric rise to continue. According to a report by Bloomberg on Monday, unless bitcoin‘s price can break out above $40,000 the cryptocurrency could see further downside. Greater input from the multi-billion dollar […]
Continue ReadingStephen Harper, an economist and the former prime minister of Canada, said bitcoin could potentially see use as a reserve currency, but isn’t going to supplant the U.S. dollar’s international role. In an interview with Cambridge House’s Jay Martin on Sunday, Harper acknowledged that the dollar had been on a downtrend, but said there were […]
Continue ReadingDecentralized oracle network Chainlink’s LINK token and other prominent alternative cryptocurrencies (dubbed altcoins) are charting solid gains as the crypto market leader bitcoin takes a bull breather. LINK set a new record price of $23.68 overnight and is changing hands near $21.73 at press time, a 7.3% gain on a 24-hour basis. The previous lifetime […]
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Continue ReadingTo think that such a festive concept, one that evokes both sophistication and childlike wonder, could become so financially charged … Last week, Bank of America Securities chief investment strategist Michael Hartnett said in a note that bitcoin looks like “the mother of all bubbles.” Harnett seems to be using the strength and speed of […]
Continue ReadingWall Street chief financial officers (CFO) are more wary of putting company funds into bitcoin after last week’s 30% price plunge, Bloomberg reports. But given the return of bitcoin’s infamous price volatility – which saw the largest cryptocurrency’s price drop thousands below its peak of $41,900 set on Jan. – the attraction of that strategy […]
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