Financial Industry News
While bitcoin has climbed sharply from recent lows below $4,000, it’s still on track to end March with a double-digit price loss. The top cryptocurrency by market value is currently trading near $6,440, representing nearly a 68 percent rise from the low of $3,867 registered on March 13. Even so, prices are still down 24 […]
Continue ReadingBitcoin is looking buoyant Monday despite renewed risk aversion in traditional markets. The top cryptocurrency by market value picked up bids near $5,850 during the Asian trading hours and rose around $500 to $6,344 at 07:14 UTC. At press time, the global average price, as calculated by CoinDesk’s Bitcoin Price Index, is seen at $6,290, […]
Continue ReadingSome financial publications around the world are touting the “shortest bear run in history” for U.S. equities, as if the dark days of the Coronavirus sell-off are behind us. Markets in the U.S. are beginning to show signs of life thanks to the U.S. Federal Reserve’s $2 trillion stimulus package. The Dow Jones Industrial Average […]
Continue ReadingIn a role reversal befitting these topsy-turvy times, Wall Street has recently seen more turbulence than the average for the top cryptocurrency. Correction: Due to a data calculation error, an earlier version of this story overstated the S&P 500’s volatility in the days since March 12. It has risen, but not above 80 percent. The […]
Continue ReadingView Federal Reserve’s open-ended easing program is a long-run positive for bitcoin’s price, according to analysts. With stocks flashing green and technical indicators pointing to a strengthening of upward momentum, bitcoin looks set to test resistance at $7,000. Monday’s low of $5,686 is the level to beat for the bears. Bitcoin is marching northwards as […]
Continue ReadingThe Australian share market fell sharply during its opening session of trading on Monday (AEST) after the country’s Prime Minister announced drastic measures to curb the spread of coronavirus (COVID-19). Reeling from its worst week since the global financial crisis in 2008-2009, the benchmark S&P/ASX200 has fallen from Friday’s close of 4,816 basis points to […]
Continue ReadingView After a quick rise over $6,900 Friday, bitcoin’s technical charts are calling a continued rally. Fundamentals also support further gains, according to analysts. A failure to keep prices above key support near $6,400 would weaken the immediate bullish case and allow a pullback to $6,000. Bitcoin’s (BTC) price recovery gathered pace on Friday, helping […]
Continue ReadingView Bitcoin is gaining amid a selloff in fiat currencies and could rise further if the U.S. stock markets track European equities higher. Technical charts indicate scope for a rise to key resistance at $5,926. A move higher would confirm a breakout on the hourly chart and may propel prices toward $6,400. Bitcoin is on […]
Continue ReadingDemand for bitcoin options on regulated U.S. derivatives exchanges has dried up even as price volatility reaches record highs. The Chicago Mercantile Exchange (CME) traded just three bitcoin options contracts on Tuesday, with a notional amount of 15 bitcoin (approximately $80,000), the exchange told CoinDesk. That is CME’s lowest daily volume for bitcoin options on […]
Continue ReadingBitcoin is again feeling the pull of gravity as investors offload risk in traditional markets despite the massive U.S. stimulus package this week. The top cryptocurrency by market value is currently trading near $5,050, having failed to establish a strong foothold above $5,500 late Tuesday., according to CoinDesk’s Bitcoin Price Index. Prices were better bid […]
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