Crypto EcoBlog
Nearly one-third of Americans falsely believe that the US dollar is backed by gold, and 70% don’t know what is backing it. That’s just the tip of the iceberg when it comes to US financial illiteracy, however. A new study reveals just how little Americans know about how their money works. An eye-opening new study into financial literacy reveals just how little Americans know about the US dollar – or how the monetary system works at all. The study, sponsored by cryptocurrency firm...
Read More »Top German Bank Predicts Bitcoin to Hit $90,000 After Halving, Calling It ‘Ultrahard Money’
Bayern LB, one of Germany’s top banks, has published a report in strong support of bitcoin superseding gold, predicting a price of $90,000 per BTC post bitcoin’s halving in 2020. Within a report entitled, “Is bitcoin outshining gold?” the bank’s researchers delved into the stock-to-flow ratios of gold and bitcoin, specifically regarding the impact of reduced supply on asset value. The Stock-to-Flow Model A stock-to-flow (SF) ratio is an analytical method commonly used within commodities,...
Read More »Thomas Lee: Bitcoin Price Cannot ‘Blast Off’ Without Record S&P 500
As the bitcoin price languishes at $8,300, down more than 12% on the day, Fundstrat Co-Founder Thomas Lee has an unfortunate truth for crypto bulls. Lee does not believe bitcoin is a safe haven; in fact, quite the opposite as he forecasts that the S&P 500 will need to hit fresh highs this year before BTC can.S&P 500 May Be Bitcoin Price's Key FundamentalThe fundamental reasoning behind the strategist's claim is sound. He and his team at Fundstrat believe that retail investors, not...
Read More »Bitcoin Is Ideal Hedge Amidst Rising Global Uncertainty
Many claim that bitcoin is the "new gold." However, BTC is not correlated with any asset, including gold. Hence, it's a good hedge. | Source: Shutterstock The U.S.-China trade war, the Hong Kong protests, and now the attack on Saudi Arabian oil producer Aramco – these events add more pressure to financial and commodity markets that already look overextended; stocks...
Read More »‘BTC’ Interest Explodes to All-Time High on Google, But There’s a Catch
Bitcoin ticker symbol "BTC" saw a sudden spike in interest on Google, but could the search engine results be manipulated? And why? | Source: ShutterstockInterest for "BTC" has exploded to a new record on Google Trends as search results for bitcoin's ticker symbol skyrocket.The phenomenon started around August 30, when "BTC" searches suddenly went parabolic. As shown below, the search term is currently conferring a value of "100," denoting that it has reached peak popularity, based on partial...
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