On Sunday, the U.S. Fed Chairman hinted on more ‘BRRR‘ programs, and shunned negative interest rate plans as he shines light on the grim state of the global economy. Nevertheless, his address seems to have a positive result on all asset classes, even the stock markets. The key highlights of Jemore Powells’ media interview was
Gold prices made a new yearly high yesterday. While the difference from the February highs is mere $4, $1751 compared to $1747, it is following a wide and deep trough caused by the massive COVID-19 dump. Since the ominous address made by the U.S. Fed Chairman, Jerome Powell, on Wednesday, gold has risen by 3.45%.
Changpeng Zhao of Binance tweeted that Peter Schiff, a vocal Bitcoin and crypto critic and a gold bug, talks more about the digital asset than the yellow metal. Funnily, he adds, most of Peter’s followers are Bitcoin and crypto followers, who, as expected, would lash back at the analyst whenever he discredits the crypto asset.
The sentiments of the stock markets have been quite fragile, fluctuating between old adages and internet trolls. Elon Musk, the founder and CEO of Tesla yesterday caused a massive $15 billion wipe-out from the market capitalization of Tesla. The traders were irked by a personal tweet from the famous entrepreneur. Tesla stock price is too
As central banks like the US Federal Reserve and the ECB go berserk and embark on endless minting, Raoul Paul argues that there is a risk of the global economy sinking into a deflation, and not inflation as widely expected, because the United States Dollar (USD)—a reserve currency, is in short supply. With the USD
The current macroeconomic is one of pain across all markets. The sudden drop in demand for goods and services was evident in the oil market crash of 20 April 2020. Micheal Novogratz, the founder of Galaxy Digital and a former hedge fund manager noted in a recent CNBC fast money update on the oil crash that,
On April 20, the West Texas Intermediate (WTI) crude oil futures for May delivery fell 305 percent to -$36.73 a barrel in the NY session. It was a bloodbath. A hint of how market forces of supply and demand shape prices. For once, traders and the investment community pinned this to the effects of coronavirus
As the short-term volatility in Bitcoin seems to be fading away, the stock-to-flow model suggests that Bitcoin might become more potent than gold as a safe-haven asset. The charts for the google trend suggests that the interest in the search term ‘buy bitcoin’ followed the interest in ‘Bitcoin Coronavirus.’ It seems to have faded as
Has or Hasn’t Bitcoin [BTC] answered the Safe-Haven Call? Last year, Bitcoin [BTC] price rose from $4200 to $14,000 beginning the correlation with gold, in the face of the US-China Trade War. Currently, it stands a bigger confluence level that last year with the COVID-19 crisis. Moreover, in April the sentiments of the traders were
Global equity benchmarks, the Dow Jones Index and S&P 500 Index skyrocketed to log best weekly gains 1974. Gold records a 2.3% rise as heads closer to $1700 mark. Bitcoin price stays above $7,200 with low volatility in the last couple of days. The employment numbers in the US soared to $17 million in the last
Bitcoin has recovered nearly 90% from the COVID-19 drop from $7950. The drop to $3850 was quickly bought (in less than an hour) which showed the first signs of bottoming and presence of interested buyers. The price of Bitcoin [BTC] at 5: 30 hours UTC on 7th April is $$7280. Moreover, the Gold price recovers
The price of Bitcoin (BTC) relative to other “store of value assets” such as gold, silver and palladium may be greatly undervalued according to the stock-to-flow (S2F) model. This is a model devised for assets that are naturally scarce to obtain such as searching and mining gold hence driving up value over time as the
Bitcoin and the cryptocurrency markets have been fluctuating between a safe-haven and risk asset analogy for quite some time now. However, the traders sentiments remain uncertain now as US is still on the losing side of the battle against Coronavirus. The number of Coronavirus cases in the US have been surging since last week. Even
In the next 2-3 years, the total market capitalization of Bitcoin will surpass Gold ‘s as the most valuable coin establishes itself as a preferred store of value thanks to its decreasing inflation and adoption. This is the view of one analyst who also adds that there is “no other asset to own today” other
Gold price renews the uptrend towards seven-year high, Michael Novogratz believes Bitcoin price rally will follow. Bitcoin price short term analysis shows that a return to $6,000 is necessary to create fresh demand in support of the rally to $8,000. The price of gold is soaring once again nearing its local high at $1,637.05/Oz. As
The US Federal Reserve announced a raft of new initiatives to prop the enfeebled and a dysfunctional Treasuries, mortgage, and corporate credit markets on Monday. The result has now seen US banks pay the Central Bank, a situation that highlights how grim the situation is on the ground. Amid the wide-spreading pandemic and rising COVID-19
The Federal Reserve used its last bullet in its latest quantitative easing as it pumped an extra $700 Billion USD and dropped interest rates by 1.5 percentage points to zero – signifying its largest monetary policy control since the 2008 global financial crisis. While the fiscal injection was supposed to recover the stock market from
Trump addresses the US at 9: 00 pm from Washington D.C. confirming that the pandemic scare is real. The escalation in quarantine measures extends to NBA and Europe Air Travel Suspension (except Britain) for the next 30 days. Hollywood star, Tom Hanks and his wife announced that they are affected by the virus as well.
The situation in the US (especially Washington and California) is getting worse as COVID-19 death toll increases to 12 in the country. The CDC in the US reports 129 confirmed cases, with other reports suggesting that the number might be greater an 225. Moreover, as recently reported on CoinGape, according to mortality rate of 1-2%,
Bitcoin, it appears, is at a ledge. A hard position given the recent capitulation. This is not stopping supporters from making wild predictions, conveying confidence. Now, one supporter took it to Twitter rooftops, saying that Bitcoin is available for cheap considering the recent wave of resignation from top Fortune 500 CEOs. 2008: CEOs stepping down