It’s not just the cryptocurrency market that’s crashing this month – traditional stock markets are doing just as badly. In fact, Bitcoin and its fellow cryptocurrencies are moving in closer correlation with traditional stocks than ever before. Over the past few weeks, Bitcoin’s 40-day correlation coefficient with the Nasdaq 100 has reached a factor of 0.66 – the closest correlation…
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The cryptocurrency market did not start 2022 on a good note, losing almost a trillion dollars in value since late last year. Leading asset Bitcoin has been fortunate enough to endure only small losses, dropping by just 12% since the year began. Some other popular coins like Solana (SOL), Terra (LUNA), and Avalanche (AVAX), are down by as much as…
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Positive sentiment dragged on throughout November following Bitcoin’s all-time high on the 9th, and continued into early December as enthusiasts clung tightly to the promise of $100k. Sadly, with Bitcoin losing $50k in early December and never fully recovering, that promise didn’t materialized. All the charts and analysis in the world couldn’t have predicted such an uncharacteristically weak close to…
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Major social media platform Instagram, a subsidiary of Meta (nee Facebook) is the latest in a string of digital platforms exploring NFTs. As one of the largest image sharing applications in the world, it’s natural that Instagram would be the target of NFT speculation. The platform has grown from a fun photo app with retro-filters to a worldwide phenomenom on…
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For novices in crypto betting, XRP which is popularly called Ripple is the native cryptocurrency developed by Ripple Labs. Like other cryptocurrencies, XRP is used for payment settlement, asset exchange and many other transactions. Due to the fast and cheap transactions the crypto coin provides, it has been outstanding amongst other coins as one of the widely used and accepted…
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India is a country that has been battling with crypto regulations for several years now. Following the country’s demonetisation experiment in 2016, Indian residents turned to cryptocurrencies to avoid losing their savings. The tech-rich country has since dived head first into the world of blockchain and crypto, with several major digital currency exchanges popping up since 2017. In 2018, following…
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A popular crypto analyst who goes by the Twitter handle Plan B (@100trillionUSD) has addressed the first failure of his controversial Stock-to-Flow (S2F) model. The model has so far performed with a high degree of accuracy, hitting every monthly target since its creation. However, ongoing negative price action throughout November has decimated Plan B’s $98k price prediction. Back in June,…
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A new cryptocurrency is making headlines lately after taking over the much-loved memecoin Shiba Inu (SHIB). Avalanche (AVAX) catapulted into 11th place by market cap this weekend after a spectacular rally that saw it gain 36.6% since this time last Monday. The rally appears to have been prompted by the announcement of a partnership deal with Deloitte, one of the…
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The price of Bitcoin suddenly surged by over $2,000 earlier today, cracking a new all-time high (ATH) above $69,000. The event coincides with the US consumer price-index (CPI), which measures inflation, jumping to a 31-year-high – 0.3% higher than government estimates. With the pace of inflation over the past year now at 6.2% it’s way beyond the Federal Reserve’s 2%…
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Following last month’s listing of Shiba Inu (SHIB) on its platform, Coinbase has now overtaken TikTok to become the number 1 app on Apple’s AppStore. In essence, this makes buying cryptocurrency a more popular activity than using social media… or pretty much anything else in the world. How it started How it's going pic.twitter.com/7xCGmnHljI — Fred Ehrsam (@FEhrsam) October 28,…
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