Tag: Stocks

Bitcoin and Stocks Break 2019 Inverse Correlation Trend — Chart Data

TradingBTC

In many ways, Bitcoin (BTC) and the crypto markets as a whole live somewhat independently from traditional markets. The global crypto space never sleeps, operating at all hours of the day on a global scale. Traditional market price movements and conditions, however, may still have an impact on Bitcoin. If the economy is healthy, seeing rising prices for traditional market indices such as the S&P 500, it makes sense that people might be more willing to take risks by putting money into Bitcoin, an asset that is still speculative at…

Bitcoin Slips in Tandem with US Stocks; Still a Safe-Haven?

TradingBTC

Bitcoin fell by as much as 5.54 percent on Wednesday after bond markets warned the possibility of a recession is growing. The BTC/USD instrument today established a new local swing low of $9,470 on San Francisco-based Coinbase exchange. The downside price action brought the pair’s week-to-date losses to circa 18 percent. It nevertheless attempted a small recovery above the $10,000, a psychological resistance level during an uptrend, and succeeded. As of 11:25 UTC, the BTC/USD instrument was trading at $10,075. Bitcoin Price Continues Its Downside Correction | Image Credits: TradingView.com…

Bitcoin’s Clobbering Bank Stocks So Badly It’s Not Even Funny

TradingBTC

According to data published by crypto research firm Messari, bitcoin has massively outperformed the largest banking stocks in the world over the past five years. In fact, the cryptocurrency is pummeling them so badly it’s not even funny anymore. They say a picture is worth a thousand words But this is worth 5: “Long bitcoin, short the bankers” pic.twitter.com/HI2DdO6ria — Jack Purdy (@jpurd17) July 10, 2019 JPMorgan, Bank of America, Deutsche Bank, Morgan Stanley, Citigroup, and Wells Fargo have recorded total returns in the range of -89 percent to -99…

Bitcoin Drops Below $8K, Stocks See Volatility Amid Global Trade Tensions

TradingBTC

Tuesday, June 4 —  virtually all of the top cryptocurrencies are today seeing deep red in a market-wide correction, with bitcoin (BTC) dropping back below the $8,000 price point, as Coin360 data shows. Market visualization courtesy of Coin360 Having bullishly broken through the psychological price point of $9,000 at the end of May, bitcoin has gradually corrected downwards in subsequent days. To press time, the top coin is trading at $7,950 — roughly 6.7% down on the day and losing its hold on the $8,000 mark, according to CoinMarketCap data.…

Bitcoin Price Boom Boosts AMD Rally While Semiconductor Stocks Crash

TradingBTC

By CCN: While other semiconductor companies were struggling, AMD stocks continued to surge in May; a price movement likely fueled by the bitcoin bull market. AMD Stocks Surging by 99% Advanced Micro’s stocks are booming, gaining as much as 99 percent in the last 12 months. AMD continued its surge even in May when other semi stocks had crashed. Last month, the semiconductor ETF SMH and Intel lost 14-14 percent with Nvidia being one of the biggest losers of the month with a 25 percent price decline. “AMD is definitely…

Bitcoin Has Obliterated the Top Dow, Nasdaq, & S&P 500 Stocks in 2019

TradingBTC

By CCN: Gaining an eye-popping 135%, bitcoin has smoked even the most impressive U.S. stocks this year. Even if you take the top performers from the Dow Jones Industrial Average, S&P 500, and Nasdaq – which are Cisco Systems (CSCO), Xerox (XRX), and Beyond Meat (BYND), respectively – they can’t touch BTC/USD for returns. Here are the charts to prove it. Dow’s Best Stock Can’t Touch Bitcoin in 2019 Dow’s Best vs. Bitcoin | Source: Yahoo Finance Cisco Systems has benefitted from a restructuring spearheaded by CEO Chuck Robbins and…

Bet on Bitcoin for Better Returns Than US Stocks, Insists Wall Street Veteran

TradingBTC

By CCN: On CNBC’s Fast Money, Morgan Creek Digital founder and CEO Mark Yusko, said that bitcoin makes a great diversifying asset in a stocks portfolio and that every investor should invest in the dominant cryptocurrency. Hedge fund vet @MarkYusko says bitcoin is a better bet than stocks. pic.twitter.com/mbnwGJUmNi — CNBC’s Fast Money (@CNBCFastMoney) May 22, 2019 Since January, in less than six months, the bitcoin price has risen by more than 100 percent year-to-date, outperforming every major stocks index such as the S&P 500. Bitcoin Over Stocks? Or Both?…

Amazing! Bitcoin Is 2019’s Top-Performing Asset Outpacing Stocks & Oil

TradingBTC

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally. Bitcoin Outperforms Other Assets by a Huge Margin It may come as a shock to…