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Gold is holding near 6-year highs amid Friday’s non-farm payrolls (NFP) data. The yellow metal looks set to record another week of bullish gains after smashing through previous resistance at $ 1,360. Prices have not rallied this hard since 2011 when investors were piling into commodities on the back of an epic decade-long bull run. Traders […]
The post Gold Shines Near 6-Year Highs As Bullish Run Continues appeared first on CCN Markets
In amidst a tense trade dispute between the U.S. and China, the Dow Jones has achieved a new all-time high at 26,966 points, closing on 27,000 points. U.S. President Donald Trump said: Today’s Stock Market is the highest in the history of our great Country! This is the 104th time since the Election of 2016 […]
The post Trump Celebrates Stocks Smashing Record Highs as Dow Flirts 27,000 appeared first on CCN Markets
The Dow Jones Industrial Average closed out at an all-time high today at 26,966, as did the S&P 500 at 2,995.82, and the Nasdaq at 8,170.23 – just shy of its intraday high. The Incredible Rising Stock Market The Dow Jones is now up 43 percent since Election Day of 2016, reflecting the country’s optimism […]
The post Dow, S&P 500, Nasdaq Smash All-Time Highs in Record-Breaking Day appeared first on CCN Markets
By CCN Markets: The Dow and broader U.S. stock market extended their rally Wednesday morning following news that the United States and China will resume trade negotiations ahead of a key presidential summit in Japan next week. The Dow’s return to record highs now hinges on the Federal Reserve, which is set to wrap up its June policy meeting in the next few hours. Dow Extends Rally; S&P 500, Nasdaq Follow All of Wall Street’s major indexes traded higher after the open, reflecting a fairly upbeat pre-market for Dow futures. The benchmark Dow Jones Industrial Average climbed 48.03 points, or
By CCN Markets: The Italian government is reportedly trying to be lenient on some forms of hard-to-tax savings, such as that held in safe deposit boxes. Bitcoin could be a viable investment for these retail investors. The reality is that no government can track every dollar – unless they have something like a blockchain to help them. This reality is part of the reason people believe the dawn of cryptocurrency may come at the hands of certain governments, intent on having a traceable monetary supply. For now, governments mostly benefit from there being an unknown amount of counterfeit fiat currency
Bitcoin price will likely reclaim or surpass its all-time high by the end of 2019, guesstimated Mike Kayamori. The Quoine chief told Bloomberg in an interview that while it is difficult to predict how much time bitcoin would take to establish a new peak, he is sure it would touch it nonetheless. Adding that he believed
The post Bitcoin Price Will Hit New All-Time Highs in 2019: Quoine CEO appeared first on CCN
Anthony Pompliano, a partner at Morgan Creek Digital Assets and notable security token advocate, believes that the 2018 Bitcoin (BTC) bear market is not over yet. In a recent interview on CNBC’s Squawk Box, Pompliano revealed his prediction that Bitcoin will experience an 85% decline from its all-time high before finding a bottom — implying a price floor of roughly $ 3,000. […]
SludgeFeed
As the crypto market reels from a weeklong downturn that has forced the bitcoin price to its lowest point in almost 14 months, it appears that traditional markets do not intend to welcome investors back with open arms. Markets Erase Year-to-Date Gains Following yet another decline on Tuesday, the Dow Jones Industrial Average, S&P 500,
The post Not Just Bitcoin: FAANG Stocks are Down $ 1 Trillion from Yearly Highs appeared first on CCN
Michael Novogratz, the CEO of cryptocurrency focused merchant bank Galaxy Digital LP (GLXY), is a frequent contributor of Bitcoin (BTC) price predictions. Most recently, he has asserted that Bitcoin will reach new highs in early 2019 after almost a year of bearish conditions. In a recent interview with Fn London, the former hedge fund manager further outlined his […]
SludgeFeed
Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and soar to $ 20,000 in 2019 — fueled by a spike in institutional investments. The former Goldman Sachs investment banker says institutional “FOMO” (fear of missing out) will drive the market up over the coming
The post Bull Call: Novogratz Says Bitcoin Will See Record Highs in 2019 appeared first on CCN
As the economic crisis in Venezuela worsens leading to a growing exodus of citizens out of the country, the demand for bitcoin and other cryptocurrencies has exploded. According to Coin Dance, Venezuelans traded bitcoins worth nearly 300 million bolivars last week and the record could be broken again as so far this week bitcoin worth
The post Bitcoin Trading Volumes in Hyperinflation-Struck Venezuela Hits Record Highs appeared first on CCN
It has been an incredibly bullish week for XRP, the cryptocurrency managed by leading blockchain startup Ripple. The price of XRP is now up over 56% in the past week, surging over 30% in the last 24 hours alone. This run-up has been driven by speculation from a series of announcements made by Ripple. This includes […]
SludgeFeed
Bitcoin bears have not been phased by the recent weeks of relative price stability, as short interest on Bitfinex has remained near all-time highs for the better part of the last two months. The next major fundamental event that should provide direction to Bitcoin is the September 30 SEC decision to allow or deny the listing of the Cboe […]
SludgeFeed
Despite a $ 200 pullback from eight-day highs today, bitcoin’s recovery looks intact on technical charts.
CoinDesk
While the cryptocurrency market has stopped falling and is currently trading relatively flat, many investors see more pain to come as the short interest for both Bitcoin (BTC) and Ethereum (ETH) have recently reached all-time highs. After being turned away at the $ 7,400 mark, Bitcoin fell rapidly and is currently trading just shy of $ 6,500 […]
SludgeFeed
With many cryptocurrencies are currently trading at an 80-90% discount from their January highs, it can be difficult to determine which will actually recover and which will disappear altogether. While looking for the greatest discounts relative to previous and future value is undoubtedly a strong investment technique, the cryptocurrency market might make you look for the […]
SludgeFeed
In our previous discussion, a strong possibility for a retest of the low volume spring was noted as the market was beginning the early stages of an inverted head-and-shoulders (H/S) reversal (sometimes called a head-and-shoulders bottom). A couple days ago, shortly after testing the left shoulder of the head-and-shoulders reversal (H/S), the market reacted strongly and the price jumped several hundred dollars:
Figure 1: BTC-USD, 1-Day Candles, H/S Bottom
Goldman Sachs head of global investment research Steve Strongin has pronounced the eventual death of all but “a handful” of cryptocurrencies as prices rebound.
In a note widely circulated among naysayers in the mainstream press such as Russia Today, Strongin took a harder line than CEO Lloyd Blankfein and even JPMorgan CEO Jamie Dimon, going on record to forecast that “most, if not all, will never see their recent peaks again.”
Bitcoin has led a fresh resurgence in the price of the vast majority of crypto assets this week as positive signs from a US regulatory meeting Tuesday fueled a return to confidence in their prospects.
Bitcoin may have dropped in price, but its losses are far below many altcoin assets as forks Bitcoin Cash and Bitcoin Gold hemorrhage value.
In an analysis of 63 top cryptocurrencies by market cap, one online commentator drew attention to overall retraction of prices versus their all-time highs.
Bitcoin came in 52nd on the list, having dropped 69% as of Tuesday. Bitcoin Cash had fallen a giant 82% to reach number 16, while Bitcoin Gold fared even worse, losing 85% to occupy 6th position.
