Markets

Bitcoin is reducing its correlation with the stock market, and is transitioning towards gold’s performance, a recent Bloomberg report claimed. Amid the current COVID-19 crisis, both assets will outperform equities and emerge as the most substantial gainers.Bitcoin To Join GoldThe unexpected outbreak of the COVID-19 pandemic jolted world economies and financial markets. The cryptocurrency space was not exempt from adverse price developments. However, a recent Bloomberg document outlined that...

Following a recent drop into the high $6,000 range, bitcoin – the world’s number one cryptocurrency by market cap – has surged back above $7,100, suggesting that this is where it’s likely experiencing the most resistance.Bitcoin Surges Once AgainBitcoin has gone back and forth over the past couple of weeks, falling and jumping between $6,700 and $7,200. There appears to be a $500 range of heavy activity, the bottom of which present necessary support, while the upper range is providing...

It’s safe to say that the last seven days were packed with action on all fronts. Bitcoin started the week trading at around $7,100 but fell to a low of around $6,800. The bears were for not, however, as yesterday BTC surged to a high of $7,780 in a few consecutive green candles. Naturally, the entire market followed with most of the large-cap cryptocurrencies charting serious weekly increases. Tezos is up more than 25% over the past four days while others like Ethereum, Chainlink, and Stellar...

Tesla (TSLA) stock is slightly up as the company’s future in the Chinese market gets shaky amid the coronavirus outbreak. Meanwhile, the Bank of America’s analyst downgraded TSLA from neutral to underperforming.Since mid-March Tesla Inc (NASDAQ: TSLA) stock has been rising and aiming for a new all-time high amid the ongoing coronavirus pandemic. However, the bulls seem to be losing the battle as the company keeps on getting negative impacting news, from major markets like China. At the time...

Yele Bademosi is the 29-year-old director of a venture capital firm known as Bundle. A division of Binance – the world’s largest and most popular cryptocurrency exchange by daily trading volume – the venture is based in Africa, which appears to be a growing hub for cryptocurrency activity.Bademosi: Using Blockchain to Help OthersAmong the most recent “African adventurers” touting crypto include Jack Dorsey, who stated a few months ago that he would spend anywhere between three and six months...

CNBC’s Jim Cramer said that investors should “stop circling the wagons around index funds”. It’s time for us to pay attention to new Covid winners.CNBC’s expert TV personality Jim Cramer shared his opinion on which stocks investors should add to their portfolios amid the Covid crisis.In making his case for the stock picks, the “Mad Money” Cramer advised on some index investing in this volatile market environment.He stated:“Stop circling the wagons around index funds here.”When it comes to...

Yesterday, Microsoft (MSFT) stock lost around 1% but today in the pre-market it was in the green. Despite its ups and downs, the company remains to be the king of the market.Microsoft Corporation (NASDAQ: MSFT) stock did a slide of 1.21% to trade at $171.42 as the market closed on April 23. In the extended hours, the stock was trading at $170.50, which is around 0.54%. Today in the pre-market, teh stock was 0.60% up. Despite the small falls, Microsoft remains the undisputed king of the...

Bitcoin price clinches above $7500 after breaking out a key resistance level on April 23, which is being viewed as a ‘perfect storm’ before BTC halving.Bitcoin price broke a key resistance level at around $7000 after the bulls suddenly took over the game on April 23. A day later, its price had added 6.11% to trade at $7,529.89 at the time of writing. It was a moment of joy to the crypto community that was anticipating for BTC price to rally high as the Bitcoin halving event is getting...

The price continued to increase after gaining momentum from the weekly support.Currently, the bulls are in control of the market across trading pairs.Tezos surged 11% to reach $2.66 today following a recent break above monthly high.XTZ/USD: Tezos Stays Bullish Above Weekly HighKey Resistance Levels: $3, $3.3Key Support Levels: $2.38, $2.07XTZ/USD. Source: TradingViewTezos’s price has continued to increase since the market fell to around $1 in March. So far, the recovery is estimated to about...

Binance, the world’s leading cryptocurrency exchange, is going through a scheduled system upgrade tomorrow. As it’s the largest exchange in the market, this might open a window for external players to move the prices more easily.Binance To Undergo Scheduled MaintenanceBinance is the world’s leading cryptocurrency exchange, and it is scheduled to undergo a systemwide update tomorrow, April 25th. The upgrade should take about 4 hours, and during this time, Binance will halt deposits,...