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…
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…
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…
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…
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 pace of gains in DeFi is crazy. Also known as Decentralized Finance, the DeFi sector is booming in anticipation that it would change the way people look at finance. Instead of a prominent banking corporation sitting in the middle of a borrower and a pile of cash, one has an automated protocol governing the…
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…
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…
Bitcoin has rallied by more than 150 percent from its mid-March low of $3,858. But the cryptocurrency’s supersonic recovery risks fizzling out amid rising concerns about the next global market sell-off. A string of bearish macroeconomic catalysts, including quantitative tightening, could send Bitcoin price lower. Bitcoin price may find itself amid a global market storm…
The relationship between the U.S. and China is on the verge of a breakdown. The global superpowers are battling each other on a range of geopolitical and macroeconomic issues – including trade, security, investment, Hong Kong, and the origins of the Covid-19 pandemic. The risks of such a situation are evident. At worst, they could…
