Bitcoin reached a record high of close to US$65,000 earlier this month but now struggles to maintain over US$55,000 Benchmark cryptocurrency now hovers between 50-day and 100-day moving average, with an inflection in either direction possible What do you do when you’re winning? Do you cash out? Do you double down? So what happens […]
Dogecoin joins a growing list of “meme” assets this year, as billionaire Mark Cuban talks up the joke cryptocurrency Irrational market cap of Dogecoin is the ultimate joke on legacy financial assets The beauty of Dogecoin is that it doesn’t pretend to be anything that it’s not. It doesn’t pretend to be a serious […]
Bitcoin gains after Tesla reports profit from its investment in the cryptocurrency and indicates commitment to the digital asset Companies looking to boost their balance sheets, especially in the face of lackluster profits during reporting season may show also be looking to Bitcoin for solace After falling to its lowest level in seven weeks on […]
Successful auction by Phillips of a US$4.1 million NFT suggests that there is still appetite for non-fungible tokens in the art world Bidders on the NFT were also bidders who had in the past bid on physical artwork, suggesting that collectors may be digitizing their tastes just as the world becomes increasingly digital as well […]
Bitcoin unable to clear US$60,000 and recent fall suggests that US$50,000 could be tested in the near term, according to technical indicators Other cryptocurrencies have been less affected by Bitcoin’s most recent slide, suggesting an increasingly sophisticated investor base that is not fixated on a single digital asset Bitcoin is struggling to shake its weekend […]
Biden administration surveying the Chinese digital yuan more closely, as a perceived threat to dollar dominance Despite being the world’s second largest economy, the Chinese yuan only represents some 2% of global reserve currency, but a shift would require a serious makeover of China’s financial policies and capital controls The Biden administration is stepping up […]
Bitcoin’s crash over the weekend now attributed to inaccurate rumors of crackdown on cryptocurrency usage for money laundering by U.S. authorities More likely that Bitcoin’s crash was due to sudden hash rate fall as a coal-fired power station in Xinjiang that plunged a key cryptocurrency mining region into a blackout Bitcoin plunged as much as […]
Bitcoin dives sharply on thin volumes in weekend trading but correction is nowhere close to the bigger swings experienced in the past Crash for Bitcoin may have been due to alleged regulatory action against financial institutions using cryptocurrencies for money laundering, as well as possible run-up in Dogecoin into the weekend being seen as a […]
Investors into Coinbase should recognize that the firm’s prospects are intimately tied to cryptocurrencies Exposure to cryptocurrencies via Coinbase is inefficient, but may be suited to investors who want to avoid the inelegance of handling the underlying digital assets themselves It’s one thing to list a company when it’s riding high off a single trend, […]
Direct listing of Coinbase was always going to be volatile without underwriters to support price Fourteen percent drop out the gates for a direct listing is par for the course, and more importantly, some IPOs have fared far worse, including Moderna (+6.89%) and Uber Technologies (-2.33%), which suggest that Coinbase may have some game in it yet It […]