Markets

Bitcoin cash price is struggling to gain momentum above $650 and $700 against the US Dollar. The price is now trading well below $650 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $650 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair could extend its decline unless there is a clear break above $650 and $665. Bitcoin cash price is struggling to recover above $650 against the US...

It looks like bitcoin may be losing some of its popularity – at least among hedge funds, according to a new report issued by financial giant Goldman Sachs. Goldman Sachs Says Hedge Funds Now Dislike BTC The volatility of the world’s number one digital currency by market cap is really coming back to bite it in the rear. The asset – which over the past year has earned the attention of major institutions ranging from software firm MicroStrategy to electric vehicle company...

Elon Musk was pressured by Tesla’s shareholders to drop bitcoin as a payment instrument for the company’s services, believes Kevin O’Leary. The prominent investor and Shark Tank co-host further outlined BTC’s ESG concerns that have to be resolved before any other large corporation or institution enters the space. What Happened Between Tesla and Bitcoin? Tesla and its CEO rattled the crypto world last month when the EV-maker decided to disable bitcoin payments for its products...

As if MicroStrategy did not already own a ton of bitcoin, the software firm with stock shares trading for nearly $500 at the time of writing has announced it is looking to sell approximately $400 million worth of company debt so it can purchase more BTC units. MicroStrategy Is Looking to Buy More BTC At press time, the company owns more than $2 billion in bitcoin, making it the biggest institutional bitcoin investor in the world. In second place is Tesla, which purchased...

A fresh group of meme stocks ($GEO and CLNE) has superseded $CLOV, $WISH, $SPCE, $AMC, and $GME in their recent rally, gaining over 30%.Meme stock Clover Health Investments Corp. CI A (NASDAQ: CLOV) was trading around $17.49 up 2.19% in today’s pre-market session. Previously, the meme stock rallied 86% and closed at $22.15, erasing five months’ worth of losses. ContextLogic Inc. platform – Wish (NASDAQ: WISH) stock was at $11.37, up 7.26%, also in today’s pre-market session.  Additionally,...

[PRESS RELEASE – London, United Kingdom, 10th June 2021] Nexo, the leading regulated institution for digital assets, has commissioned Armanino LLP, one of the largest accounting firms in the U.S. and a global leader in digital asset solutions, to provide real-time attestations over the company’s custodial holdings. Through Armanino’s TrustExplorer attest platform, Nexo will offer investors, customers, and regulators the highest level of trust available in the market by means...

EOS started a steady decline from the $7.50 and $7.00 resistance levels against the US Dollar. The price is currently trading well below $6.00 and the 55 simple moving average (4-hours). There is a key declining channel forming with resistance near $5.50 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair must break $5.50 and $6.00 to start a strong increase in the near term. EOS price is struggling to recover above $6.00 against the US Dollar,...

Litecoin price started an upside correction from the $145 swing low against the US Dollar. LTC price is still trading well below $180 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $182 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could fail to clear the $180 resistance and start a fresh decline in the near term. Litecoin price is struggling to clear $180 and $185 against the US...

The global banking body is seeking stakeholder opinions on the best course of action on the issue of banks interacting with crypto assets. From central banks and other regulators to intergovernmental working bodies, legacy finance gatekeepers seem to be paying greater attention to the emerging cryptocurrency market. Public Consultation on Crypto Assets According to a communique issued by the Bank for International Settlements (BIS) on Monday (June 7, 2021), the Basel...

The founder of the investment bank Moelis & Company – Ken Moelis – asserted that his institution is fond of the crypto market. He opined that people nowadays are just as crazy about digital assets as they were about gold back in 1848. Crypto Might Come to Moelis & Company In a recent Bloomberg interview, Ken Moelis shared his thoughts on the future of cryptocurrencies alongside his personal opinion about them. Despite saying that it is not likely to invest his...