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Interestingly, the recent drop in the greenback (blue vertical) has benefitted the NAS100 more than the cryptocurrency. Given BTCUSD's recent resiliency, we would have expected it to have had a more robust response to the dollar's movement. Instead, the NAS100 has risen by 5.6% compared with Bitcoin's 4.6%, showing its relative strength.
BTC/USD extends yesterday’s gains as sentiment shows improvement and the greenback retreats, after its recent Fed-fuel rally
Numeraire (NMR) Coin: What is it? Should you trade it? One of the features that attracts traders to cryptocurrency is its decentralised nature. It means that, instead of going through an exchange, trades are made directly between buyer and seller. Keen to take advantage of this investor interest, new crypto coins and tokens have emerged on the global market. And perhaps one of the most intriguing is the Numeraire (NMR)…
An insurance policy is a contract that protects a person, family, or business from specific hazards. It is a legally binding agreement between a policy holder and provider that financially secures the holder against specific perils. Homes, cars, crops and personal health are a few items that people commonly wish to protect against the unknown. In order to accomplish this goal, an individual will take out an insurance policy to…
Wednesday's monetary policy decision is weighing heavily on Bitcoin, with the Fed expected to deliver a 75bps hike. There is also nervousness around cryptos in general due to the White House's plans to regulate the industry.
Ethereum's "the Merge" upgrade is now complete. The overhaul transitions its blockchain from proof-of-work to proof-of-stake. According to the Ethereum Foundation, this will result in its energy consumption dropping by 99.95%.
The hotter-than-expected CPI rate yesterday hurt bitcoin. Headline inflation did not fall as much as hoped, and core CPI was much hotter than anticipated. The Fed will continue to hike, and risk-sensitive instruments will remain under pressure, including cryptocurrencies.
BTCUSD is sensitive to interest rates. Yesterday's real rate appreciation (up red arrow) coincides with the decline in Bitcoin (down arrow). As such, it's no surprise that BTCUSD is currently trading below $19K. As long as the daily stochastic remains in its lower quintile, bearish pressure will be present.
Ethereum is about to overhaul its mechanics in an upgrade called "The Merge." The revamp is due around Sept 15 and will transition from proof-of-work to proof-of-stake. This change is greener, using significantly less energy (up to 99% less, according to the Ethereum Foundation), with users validating transactions with tokens instead of mining.
Bitcoin, the first digital currency to scale, has managed to generate widespread visibility since the first units were mined in 2009. In that time, Bitcoin has enjoyed astronomical price increases, rising from less than US$0.10 to nearly US$20,000 in 2017. Given that the digital currency has enjoyed such impressive upside, it is easy to see why investors would want to trade this innovative crypto asset. Bitcoin is highly volatile and…
Bitcoin is still under pressure following Fed Chair Powell's hawkish Jackson Hole speech.
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