‘Fireworks Are Coming’ — FX Markets Will Boost Bitcoin, Says Analyst

Max Bronstein, who works on the Institutional Coverage team at Coinbase, believes “fireworks” are coming to the global currency market. What’s more, a spike in volatility of currencies might largely benefit the price of Bitcoin (BTC). He said: “A lot has been said on BTC’s performance during bouts of equity volatility, but not as much on how BTC would perform during bouts of FX/currency volatility. With global currency vols off historic lows and a huge wave of new debt, fireworks are coming to the currency market.” Even before the pandemic…

SEC’s Cryptomom Peirce Believes US Capital Markets Can ‘Transform People’s Lives’

In a July 7 fireside chat courtesy of Unitize, Commissioner Hester Peirce of the Securities and Exchange Commission continued to advocate for regulatory clarity for crypto as a means of opening up capital markets to innovation. Innovation and regulation “I believe in the power of our capital markets to transform people’s lives,” said Peirce. “I wanted to make sure that our regulatory structure was flexible enough to accommodate innovation.” She noted that the the size of the U.S. economy makes its regulations critical to global fundraising: “The race to the…

Here’s Why the Chinese Stock Market’s Rally Might Boost Bitcoin

The Chinese stock market has found itself caught within the throes of a fresh bull market, and it could create a tailwind that lifts Bitcoin. After facing the dire implications of the ongoing pandemic that originated within China’s borders, the country’s investors appear to be moving on, now helping to fuel a fresh bull market. The country’s benchmark stock indices all saw massive growth during their latest trading session, with the Shanghai Composite even seeing its best single-day percentage gain since 2015. A few simple factors are driving this fresh…

Dalio Says Capital Markets Are ‘Not Free‘ as Central Banks Drive Economy

Ray Dalio, the billionaire hedge fund manager and founder and chief investment officer of Bridgewater Associates, believes capital markets are no longer free. Speaking to Bloomberg, Dalio said markets have changed a lot so central banks like the Federal Reserve no longer act within the confines of the traditional economic system. “There are markets that are driven by central banks not only their actions but their desire to be an owner of those assets. Their priorities about that ownership when they buy and when they sell are not the same…

LocalBitcoins Says Its Transactions From Darknet Markets Dropped 70%

LocalBitcoins, a major peer-to-peer (P2P) cryptocurrency exchange, has purportedly managed to significantly cut the amount of criminal funds on its platform in 2020. The P2P platform has seen a decline of over 70% in transactions from darknet markets between September 2019 and May 2020, LocalBitcoins claims. Jukka Blomberg, chief marketing officer at LocalBitcoins, told Cointelegraph that the drop comes in response to Anti-Money Laundering and Know Your Customer regulations adopted by the platform in September 2019. The calculations are based on blockchain analysis by major crypto analytics firm Elliptic as…

Crypto Prediction Markets Face Competition From Facebook ‘Forecasts’

Facebook’s research and development engineers have launched a community platform built around predictions, encroaching on the territory of the emerging crypto-powered predictive market sector. Dubbed ‘Forecast’, Facebook’s new iOS app polls users on a variety of forward-facing issues, with respondents using in-app points to access surveys on the platform. Survey results will be made publicly available via the Forecast website. Facebook launches COVID-19 predictions The app is currently only available to invited users based in the United States and Canada while the platform is in beta testing. Prior to its…

US Markets Rebound to Recover All Coronavirus Losses — What About Bitcoin?

The Nasdaq, an index which primarily represents tech stocks like Amazon, Microsoft, and Alphabet, has surpassed 10,000 points to hit a new record high. The move above 10,000 effectively erased all the losses suffered from the coronavirus pandemic, yet, the price of Bitcoin (BTC) remains 50% down from its record high at $19,665. Bitcoin was seemingly correlated with the U.S. stock market throughout March, but now the digital asset is seeing a decline in momentum following a 167% increase in price within three months. The bullish trend and V-shaped recovery…

What’s Happening in Crypto Markets Right Now? Join Live TA From Big Cheds & Korean Jew Trading

Welcome one and welcome all to this week’s Crypto Markets Live show featuring traders Big Cheds and Korean Jew Trading. Click the link to head over to the YouTube chatroom for your chance to win $100 of Cointelegraph merchandise. All you have to do is guess the price of Bitcoin at 2 p.m. on June 11th. You have until midnight eastern time on Sunday to make your guesses. Big Cheds is a Japanese candlestick trader, newbie helper, author, and founding analyst at Bitcoin Live. He has been trading markets for…

Pomp Explains Why Mainstream Markets Are Up Amid Chaos

Even in light of recent riots, protests, and uncertainties, mainstream U.S. financial markets show upward prices due to overarching forces, according to Morgan Creek Digital co-founder, Anthony Pompliano.  “Yes there are protests, there are all these things, but the bigger force is the fact that now all these businesses are opening up,” Pompliano said in a June 2 episode of “Lunch Money” on his YouTube channel. “There’s going to be more economic activity and there should be a recovery in that data.” Economy returning to function After weeks of shelter-in-place…

Ripple’s ODL Network Records ATH for XRP/AUD on BTC Markets Exchange

On-Demand Liquidity (ODL) for XRP paired with the Australian dollar reached a new all-time high of 15,640,530 AUD on the exchange BTC Markets. According to a recent tweet from the Liquidity Index Bot, the liquidity index for BTC Markets for XRP/AUD climbed to 15,640,530 AUD — approximately 10.6 million USD — on June 2, exceeding the previous ATH value. The XRP liquidity in Australian markets has seen a fairly steady rise since the beginning of 2020, despite the price remaining close to 0.20 USD since May 10.  Source: LiquidityB ODL…