Tag Archives: cryptocurrency

Increased Mainstream Adoption of Bitcoin Cuts Diversification Benefit, JPMorgan Says

Increased Mainstream Adoption of Bitcoin Cuts Diversification Benefit, JPMorgan Says

Bitcoin’s correlation with traditional markets could “erode” its “diversification value over time.” JPMorgan strategists questioned bitcoin’s utility as a reliable investment hedge in a memo published Thursday. Calling bitcoin the “least reliable hedge during periods of acute market stress,” strategists Federico Manicardi and John Normand questioned bitcoin’s ability to function as reliable diversification investment through times of […]

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend. Over the last 24 hours, the cryptocurrency declined by more than $8,000 to $32,400, an over-20% fall from levels over $40,800 late on Sunday (UTC). The cryptocurrency was last seen changing hands up slightly near $35,380 – still […]

Why Is Bitcoin Going Up, and Will It Crash Soon? What’s Next as Price Doubles to $40K

Why Is Bitcoin Going Up, and Will It Crash Soon? What’s Next as Price Doubles to $40K

Bitcoin’s prices reached all-time highs above $40,000 less than a month after breaking $20,000 for the first time. Since the start of the most recent rally, ostensibly begun in October, its value has increased fourfold. So for pros and newbies alike, or if you want to be the cryptocurrency expert at your next Zoom party, it’s natural […]

SEC Gives Broker-Dealers Room to Handle Crypto Securities

SEC Gives Broker-Dealers Room to Handle Crypto Securities

The U.S. Securities and Exchange Commission (SEC) is showing signs it might budge on letting crypto custodians become regulated broker-dealers specifically for digital assets. The Commission announced Wednesday it would let crypto-focused broker-dealers operate for five years without fear of an enforcement action provided they can verify they have possession and control of customers’ digital asset securities. […]

A Slowing of Grayscale Bitcoin Fund Inflows Could Prompt Price Correction: JPMorgan

A Slowing of Grayscale Bitcoin Fund Inflows Could Prompt Price Correction: JPMorgan

JPMorgan strategists have said the odds of a bitcoin correction would rise if flows into the Grayscale Bitcoin Trust slow down dramatically. Such a drop in flows into the largest bitcoin (BTC, -1.43%) fund would increase the likelihood of a price correction similar to the one seen in the second half of 2019, according to a note from […]

Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering

Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering

Coinbase is getting ready to go public. On Thursday, the major cryptocurrency exchange filed preliminary documents with the U.S. Securities and Exchange Commission (SEC). Coinbase has been the subject of IPO speculation for months. But the timing, coming just one day after bitcoin (BTC, +7.77%) broke $20,000 for the first time ever, cannot be ignored. The major exchange […]

DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’

DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’

DBS Bank of Singapore has officially announced the arrival of its digital assets exchange, with trading to start next week. The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets. The new exchange will facilitate […]

Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say

Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say

The path of least resistance for bitcoin is on the higher side, and the cryptocurrency could more than double from its current value in 2021, according to Bloomberg analysts. “Bitcoin (BTC, -2.08%) will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand [versus] supply indicators supportive of $50,000 target […]

First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K

First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K

Bitcoin was heading back toward the all-time high price of $19,920 notched earlier this week. “So far, prices remain constrained, either with sellers unwilling to part with their coins at any lower price or buyers unwilling to take further bets on a rally,” Matt Blom, head of sales and trading at the cryptocurrency-focused financial firm […]