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Bitcoin and Its Rebound Relationship with Gold

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…

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…

Bitcoin At Risks of Falling as Global Market “Reckoning” Begins

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…

2020 Bitcoin Price Prediction – How High Can Bitcoin Go?

Bitcoin price prediction for 2020 is a mix-bag of bearish and bullish cases. Skeptics like Nouriel Roubini and Warren Buffett thinks that the bitcoin price is going to go to zero in the near future. Nevertheless, many believe that bitcoin could attain a six-figure valuation. Last week, Renaissance Technologies’ Medallion announced that it would allocate…

Bitcoin Halving 2020 Countdown – What the Experts Predict?

When Bitcoin was in freefall under the stress of Coronavirus last month, Anthony Pompliano was quick to fall back on a decade-old narrative for the cryptocurrency that has ensured investors of guaranteed profits. “Bitcoin halving,” muttered the co-founder & partner at North Carolina-based Morgan Creek Capital Management as he pitted the supply-slashing event against the…

I Am an anti-FUD Bitcoin Op-Ed Piece

Bitcoin is back in the news again. This time, due to all the bad reasons. The benchmark cryptocurrency earlier this month slipped by up to 38 percent from its local peak of $10,540, according to data provided by CoinStats’ cryptocurrency portfolio management app. Meanwhile, it remained stuck in a much larger downtrend after establishing $14,000…

Bitcoin Now Powers an Anti-Hong Kong Police App

Just recently, Apple removed HKmap.live, an application that showed a real-time crowdsourced map of protests in Hong Kong, alleging that it facilitated attacks on individual officers and vandalization of public areas where the police were not available. Kuma, the pseudonymous developer of HKmap.live, said in an interview with Laura Shin that Apple had no evidence…