Tag Archives: Op-ed

Bitcoin has been in the spotlight this week largely due to two unfavorable developments. The first one is the underwhelming Bakkt launch that failed to impress the cryptocurrency community. Second, the largest cryptocurrency finally broke down from a descending triangle after months of consolidation, prompting calls for a bearish dump to $4,000 or even lower.Big bitcoin bear calling for a deep dive after the bearish breakdown. | Source: TwitterRegardless of these events, bitcoin’s...

Anyone expecting a new record high bitcoin price by the end of the year is likely to be disappointed.Based on the previous cycles of BTC price activity, we probably won’t see bitcoin smash back through $20,000 before at least May 2020. The reason is simple:Bitcoin has never recaptured an all-time high before a halving eventLook at the Coin Metrics chart below, marked with the halving every four years, edited by CCN to mark the price at each event. In the last two cycles, BTC has failed to...

Following a rousing presentation from David Marcus - the head of Facebook's Libra - Coinbase CEO Brian Armstrong has come out in support of the developing cryptocurrency.Libra is often depicted as a pretty divisive and maligned project. It's not shocking to think that a cryptocurrency with plans of financial domination - emanating from a company with a checkered past of privacy problems - has regulators and citizens up in arms. Nonetheless, Libra now has at least one supporter, Coinbase's CEO...

Cryptocurrency prices wavered on Wednesday following the biggest 24-hour devaluation in months, leaving little guarantee of a swift recovery in the near term.For Ethereum (ETH), the grind lower has been much more extreme when valued against bitcoin (BTC). While the ETH/BTC exchange rate has been in recovery throughout September, the year-to-date picture is grim. How ether performs relative to the 'king of cryptocurrencies' offers eye-opening insights into the broader altcoin market.Crypto...

Last week, the promise of an emerging era of quantum computing seemingly became a reality as Google released a new scientific paper claiming "quantum supremacy." While this could have a tremendous impact future of mankind, fears arise that it may also pose a giant threat to bitcoin. The paper was recently uploaded to NASA.gov and promptly taken down. An insider from Google relayed that the document was likely erroneously uploaded before any peer review could take place. This meant that any...

Patrick Byrne, Overstock's former CEO, is cashing out of the company he built. | Image: AP Photo/Steve C. Wilson Ousted former CEO of Overstock, Patrick Byrne, revealed via a regulatory filing on Wednesday that he offloaded his entire holdings in the internet retailer he's been at the helm for since 1999. Byrne liquidated his entire holdings. | Source:...

Tokenization offers professional athletes a vehicle to grow their earnings and not risk blowing it all on useless junk. | Image: Shutterstock On September 13th, CCN reported that Brooklyn Nets point guard Spencer Dinwiddie plans to convert his $34 million contract into digital tokens. The move allows the NBA player to receive a lump sum payment as investors purchase...

In the world of cryptocurrency and bitcoins, which I consider to be a bubble worse than the Dutch tulip craze of the 1600s, there could only be one thing worse. That would be saying something because as I've argued repeatedly here at CCN, bitcoin is vapor. There is nothing to back it, it isn't money, there is no rhyme or reason for the price that it trades at in the market, and is nothing more than gambling in a casino that has worse odds than Las Vegas. While supporters of bitcoin scream...

Blackstone head honcho Stephen Schwarzman is rich. Really rich. Almost twice the market cap of bitcoin-level rich, in fact. The man who was, once upon a time, lauded as the “Master of the Alternative Universe” built his empire by taking risks. Over the years, the billionaire CEO has traded in a wide variety of businesses including a casino, a marine theme park, and even a German camping outfit. Schwarzman is the world’s 100th richest man, according to Forbes, with a “real-time net worth” of...

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...