Cryptocurrency Analysis and News Portal
The share price of Bitcoin (BTC) mining firms Riot Blockchain and Hive Blockchain has produced enormous year-to-date (YTD) gains, with stock in Riot nearly doubling while Hive tripled over 2020 so far.However, not all mining firms have fared well throughout the COVID-19 pandemic, with Canaan’s stock falling nearly 70% since
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The stock price of Tesla (TSLA) surpassed $1,200 in pre-market, achieving a market capitalization of over $220 billion. Now, the most valuable car company in the world is worth 30% more than the entire market cap of Bitcoin (BTC), the biggest and most popular cryptocurrency in the world. Tesla overtook Toyota
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Germany-based Deutsche Boerse –Europe’s third-largest stock exchange – has officially accepted 21Shares’ Bitcoin exchange-traded product (ETP) and is now set to list the product on Xetra electronic trading platform, according to reports on July 1, 2020. Bitcoin ETP Live on Deutsche Boerse While authorities in the United States are still pondering on
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Bitcoin faces a critical second half of the year as its correlation with the S&P 500 index nears 43 percent.While both markets have rallied impressively from their March 2020 lows, they are far from confirming a V-shaped recovery due to resurgence in the COVID cases.Meanwhile, the Federal Reserve’s fiscal support
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Wells Fargo anticipates U.S. corporate pensions will move $35 billion into fixed income. Analysts believe this may cause a sharp sell-off in the stock market and given the correlation between Bitcoin and stocks, this could leave BTC vulnerable for a pullback.KKM Financial managing director Dan Deming also warned that increased
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In brief:Earlier today, BTC posted a local peak of $9,787.Bitcoin has been oscillating between $8,900 and $9,800 for over a week. BTC is still highly correlated to the S&P 500. Perhaps it is time the correlation worked in favor of Bitcoin to boost it above $10,000. In the last 24 hours, Bitcoin has
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Credit Suisse’s Jonathan Golub–one of Wall Street’s most bearish strategists–has raised his forecast for the U.S. stock market. Downside risks are “less ominous,” says Golub, thanks to unprecedented central-bank intervention and declining bankruptcy filings. Although Credit Suisse has raised its price target by 18.5%, that reflects most of the gains since March.
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Wirecard stock slid by 50% this morning. Does that make the German company a buy, or should investors brace for an even steeper plunge? Wirecard Stock Crashed 85% in Just 3 Days: Is Now the Time to Buy? by CCN.com Source
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JPMorgan thinks the U.S. stock market will see a different dynamic in the next six months.Strategists predict individual stocks will see less correlation, as fear of missing out (FOMO)-driven sentiment subsides.Struggling sectors with weaker fundamentals and financials like the airline industry are expected to see a steeper downtrend.JPMorgan thinks the
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The U.S. stock market fell over 6% after the Fed’s balance sheet started to contract. The correlation leaves equities vulnerable to a steep correction if the Fed slows down its asset purchases. The addition of 30,000 new virus cases in the U.S. on a single day may put even more pressure on
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