Key Crypto Highlights:
Bitcoin price is trading near $3,650 as the Bitcoin volatility hits its lowest since mid-November 2018 while BTC hash rate goes back up
- Now, 20,000 kiosks of Coinstar allow you to buy Bitcoin at your local grocery shop
- Total market cap crosses $120 billion as altcoins are in red and green mix
- On the other side, though stock market is registering gains, GMO LLC says the multiyear bubble in American stocks is now deflating and calling out to allocate as little as possible to American Stocks
Bitcoin volatility, Price, Technicals, and major points in brief
At press time, Bitcoin has been trading at $3,655 with the 24-hours green of 0.59% while managing the daily trading volume of $5.2 billion.
Bitcoin 1-day price, Source: TradingView
Eric Ervin, the chief executive of Blockforce Capital recently shared that the overall Bitcoin Volatility has been decreasing.
“Its rolling 14-day Bitcoin Volatility has been steadily declining — trending downward from a peak of 140 on November 28th to today’s value of 60… This is the lowest volatility we’ve seen since mid-November 2018.”
Meanwhile, Jani Ziedans, a market analyst at Cracked Market believes Bitcoin sell-off has yet to find a bottom as he stated,
“Bitcoin continues to struggle and is in the mid-$3k’s. If prices were oversold, we would have bounced by now. This lethargic base tells us that demand is still incredibly weak and this selloff still hasn’t found a bottom.”
Meanwhile, after dropping about 7 percent in a day, in December Bitcoin hashrate is back to the December levels.
Now you can buy Bitcoin at your Local Grocery Store
The leading cryptocurrency is currently being sold at your local grocery store via Coinstar Kiosks. These machines will allow buying up to $2,500 in BTC. Neil Bergquist, Co-founder, and CEO of Coinme that owns and operates over 20,000 fully automated self-service coin-counting kiosks in nine countries said, We’re excited to team up with Coinstar to give consumers a convenient and easy way to buy Bitcoin during the course of their daily routines.”
Total market Cap Not Moving
The crypto market is divided between red and green as the total market cap is almost exactly where it was 24-hours back at $121 billion. MOAC (11.27%), Dentacoin (8.06%), and Binance Coin (6.07) are registering the highest gains. While, the biggest loss of 11.13%is seen by Buggyra Coin.
Top cryptos’ price movement, Source: Coinmarketcap
Meanwhile, Stock Market Climbs
The stocks in Asia and Europe rose alongside American equity futures. Futures on S&P 500 index rose 0.3%, MSCI Emerging Market Index increased 0.5%, MSCI World Index of developed countries rose 0.4%, and Stoxx Europe 600 Index climbed 1.2%. In bonds market, the yield on 10-year Treasuries rose two basis points.
As for currencies, the Bloomberg Dollar Spot Index rose 0.1% and Euro gained 0.1% while Japanese yen dipped 0.2%.
But Allocate as little as possible to American Stocks
According to Martin Tarlie, part of the GMO LLC’s team that oversees about $70 billion, investors should own as few US equities as possible as the multiyear bubble in American stocks is now deflating. Charlie, who in January said that there might be a “melt-up” in stocks just a few weeks before it happened, is now calling out for caution while US shares move on its fourth weekly gain, according to Bloomberg.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.