BoA Strategist Thinks the Stock Market Crash Is Over, But Don’t Celebrate Yet

Bank of America’s top strategist believes the stock market crash is over. A historic relief rally for the Dow Jones has given bulls confidence that the coronavirus panic has peaked. Gloomy GDP forecasts suggest even if the floor is in, upside for the Dow and S&P 500 could be limited at best. After a horrific month on Wall Street, the stock market crash has slowed, with the Dow Jones and S&P 500 rebounding off their lows. One of the investment banking world’s top strategists, Bank of America’s Michael Hartnett, believes…

Quarantined Gamers Are Straining Microsoft Azure-based Blockchain Platform

Microsoft has acknowledged that the quarantined gamers are putting a strain on its Azure cloud platform which is a backbone of the company’s Blockchain As a Service (BaaS) offering. In the SEC filing, Microsoft addresses the impact of “the global health pandemic” on its Azure cloud services. The company admits that in certain regions “deployments for some compute resource types (…) drop below our typical 99.99 percent success rates”. Furthermore, Microsoft confirms that “Xbox Live [is] putting a strain on overall Azure capacity”: “As a result of the surge in…

What’s Next For Bitcoin After Brutal Rejection At Key $7,000 Price Point?

Just two hours ago, Bitcoin started to rally after trading at $6,700 for most of Saturday morning and afternoon, rallying as high as $7,020 in a vertical move that brought the asset 4%. But, as fast as the cryptocurrency rallied, it was rejected, returning to where it began just minutes later — a loss for bulls hoping BTC could establish a higher high on the daily chart. Joe McCann  — a noted crypto trader and an AI/Cloud specialist at Microsoft — remarked that the recent explosive move is most likely…

Cryptocurrency News From Japan: March 29

This week’s headlines from Japan included the country’s Financial Services Agency revealing feedback from the public on recent regulation, the Cabinet Office Ordinance announcing regulatory changes, Zaif exchange removing three crypto assets, BitBank’s COO predicting crypto exchange mergers, and Nomura Research Institute issuing Japan’s first blockchain-based bond.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese FSA receives comments on new regulations The Japanese Financial Services Agency, or FSA, unveiled 172 comments from citizens and groups, pertaining to recent crypto asset laws taking…

ESA Announces E3 2021 Dates, But Does Anyone Care?

E3 2021 has been announced, but what about E3 2020? ESA claims a “reimagined event,” but what does that mean? Does anyone even care about E3 anymore? I’m not the first to state that E3 was on its deathbed before COVID-19 brought it down prematurely this year. Ignoring the writing on the wall is conference organizer Entertainment Software Association (ESA). The group revealed dates for E3 2021, claiming a “reimagined event” is in store. This, I assume, will be different than the online-focused event in store for this year. But…

Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

Although the Coronavirus pandemic has led many brick and mortar industries to close operations, cryptocurrency exchanges seem to have had their best month in a long time.  According to an exchange report released by CryptoCompare, Bitcoin (BTC) trading volume saw record-breaking numbers throughout the month. Cryptocurrency market daily view. Source: Coin360 The March 13 market crash that brought the Bitcoin price from $8,000 to a low of $3,800 in 24 hours registered the biggest day for crypto in terms of trading volumes registered at Bitcoin spot markets. On March 13 alone,…

Bitcoin’s Hedging Performance in the Wake of the Coronavirus Outbreak

The recent coronavirus outbreak has far-reaching consequences beyond the spread of the disease and efforts to quarantine it. Recently, we’ve experienced one of the most severe stock market crashes in modern times: On March 9, 2020, the Dow Jones Industrial Average recorded a drop of -7.8%, which happened to be its worst single-day loss ever. However, on Thursday, March 12, 2020, the Dow then recorded the fifth-largest drop in modern history based on percentage points by a staggering amount of almost 10%. Unfortunately, the losses did not stop there. Four…

Minority Communities Targeted By Crypto Bottled Water Scam

The United States Securities and Exchange Commission has charged a former pastor and his wife for stealing $500,000 through a trio of fraudulent businesses, including a cryptocurrency offering purportedly backed by a bottled water business. According to a complaint filed on April 2, the pair also sold fake shares in their struggling water business, Teshuater, in addition to conjuring up a non-existent Bitcoin (BTC) mining outfit to dupe investors in Houston, Texas. Former pastor offers 1,400% returns overnight The complaint alleges that Larry and Shuwana Leonard “targeted investors in the…

4 Popular Robinhood Stocks to Time the Bottom of the Stock Market Crash

Investors are keeping an eye out for the bottom of this year’s epic stock market crash. Individual or retail investor activity is a contrarian stock market indicator. Because they tend to sell the dip and buy the rip. So the following four popular stocks on Robinhood are worth tracking to help spot the bottom of this brutal bear market. Just two weeks into this year’s swiftest, most brutal stock market crash in history, some silly market watchers were already trying to spot the bottom. The Dow Jones, S&P 500, and…

Staking, Consensus and the Pursuit of Decentralization

Oh, the wonders of decentralized consensus — that dream of permissionless blockchains to be censorship-resistant, trustless, collaborative and egalitarian for a potentially global community of users. While lofty in ideals, consensus is foundational for each crypto network, which must agree upon that most basic question of who decides what on the network. Decentralized consensus in the form of a proof-of-work mechanism was at the core of Satoshi Nakamoto’s innovation when creating Bitcoin — all additional protocol elements stem from PoW’s ability to reach consensus regarding the digital ledger through the computational…