The global equity markets are reeling under pressure as the coronavirus outbreak has spread outside China. While gold, the traditional safe haven, has been moving higher, Bitcoin has largely remained range-bound. This again puts focus on the frequently discussed perspective that Bitcoin is a completely uncorrelated to traditional markets. Sometimes it rallies with the equity markets and other times with gold but during certain occasions, such as now, it moves to its own beat. In other news, Tron founder Justin Sun paid a record $4.6 million in a charity auction to have a meal with legendary investor Warren Buffet. However, …

Changpeng Zhao, the co-founder and CEO of major cryptocurrency exchange Binance publicly expressed distrust towards self-proclaimed Bitcoin (BTC) creator and Bitcoin SV (BSV) founder Craig Wright. In a tweet published on Feb. 24, Zhao explicitly said that Craig Wright “is a fraud.” He also seemingly recommended not to invest in Bitcoin SV: “Investing in a fraud never ends well.” In April 2019, Zhao’s exchange delisted Bitcoin SV after Wright took legal action against a Twitter user that said he is not Satoshi Nakamoto. The exchange cited “evidence of unethical/fraudulent conduct” among the reasons for the delisting. Wright’s claims are met …

Binance CEO Changpeng Zhao believes that the upcoming Bitcoin halving has not been priced in to the digital asset’s current price action. The reduction in miner rewards will increase the cost of mining each Bitcoin, meaning, miners are unlikely to sell below their cost of production. Bitcoin’s supply will decrease with the halving but its demand has also been increasing, creating a situation where prices are likely to driven higher. Although CZ’s statement can be interpreted as bullish, the CEO personally believes that Bitcoin’s price might gravitate around $10,000 levels for a few more days as round numbers are known …

Eurekahedge's index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space. Coinbase is now a Visa principal member, the first crypto pure-play company to receive the membership. This will help the company to offer more features and services to its customers of Coinbase …

After Bitcoin (BTC) scaled above $10,000 the mood among market participants turned hugely bullish. Daily talks of the asset making new highs blanketed crypto Twitter and this bullish sentiment also rubbed off on altcoins which picked up momentum and rallied sharply in the past few days. As the week approached a close it was clear that the crypto market was looking overheated in the short-term as greed gripped the market participants. Such a situation usually results in a sharp pullback that scares the weak hands away. Led by Bitcoin, the crypto markets have slipped sharply in the past two days. …

Craig Wright, who claims to be the Bitcoin creator known as Satoshi Nakamoto, has warned the Bitcoin (BTC) and BCH to stop using the Bitcoin database in order to avoid potential lawsuits. He claims that both networks may also violate the laws under the terms of Bitcoin’s original EULA and MIT License. The man behind Bitcoin SV in the recent personal blog post added that he is going to take back control of the system he created, and is ready to fight for his rights this year. Craig Wrights’ main argument Wrights argues that the distributed Bitcoin database rights are …

Interest in Bitcoin (BTC) has surged significantly after its rally above $10,000 and if the bulls can sustain the price above this psychological level, it is likely to attract further attention. While it is difficult to pinpoint the exact reason for this resurgence, a host of factors such as the China coronavirus scare, the upcoming Bitcoin halving, discussion of launching a central bank digital currency by various countries, and the increased institutional adoption of cryptocurrency might all be contributing to the rally. An important highlight of the crypto rally in 2020 is that it has been broad-based. Several major altcoins …

The total crypto market capitalization has topped $300 billion for the first time since early-August of 2019. This shows that the bulls are back in action. Interestingly, it is not only the crypto markets that have been moving up, even the US stock markets have been making new lifetime highs in 2020. Currently, the Dow Jones index is currently close to 29,500 points. However, Fundstrat Global Advisors co-founder, Tom Lee, believes that Bitcoin will pip the Dow Jones for the race to 40,000. Chicago Mercantile Exchange chief economist Bluford Putnam echoed the popular belief that Bitcoin is a non-correlated asset …

A report by investment management firm VanEck shows that Bitcoin can greatly improve the “risk and return reward profile of institutional investment portfolios.” The research shows that even a small allocation to Bitcoin in a portfolio mix of 60% equity and 40% bonds enhanced the cumulative return. The best portfolio return was seen with an investment of 3% in Bitcoin, 58.5% in equity and 38.5% in bonds. When Bitcoin was compared with traditional assets such as the U.S. dollar and gold, Bitcoin showed more features that are desirable from an asset class to be used as money. Daily cryptocurrency market …

Recently, Bitcoin (BTC) has been picking up momentum as the halving in May 2020 moves closer. However, large-cap Bitcoin forks namely, Bitcoin SV and Bitcoin Cash, will have their own halvings in April and the effects are already showing. This year, they gained 270% (BSV) and 132% (BCH) already, compared to Bitcoin’s 40%. Crypto market daily performance. Source: Coin360 Bitcoin SV breaks out of downtrend BSV USD 1-day chart. Source: TradingView The USD chart of Bitcoin SV is showing an impressive breakout from the downtrend, which made the coin surge from $100 to $450, an increase of 350%. Such a …

The institutional investors have maintained their bullish stance on Bitcoin. Though the spot price is yet to hit $10,000, CME Bitcoin futures have already reached the five-figure mark. Additionally, the Bitcoin futures open interest on BitMEX has topped $1.5 billion. This shows that the institutional traders expect the rally to extend further. Morgan Creek Digital Co-Founder Anthony Pompliano meanwhile has said that his idea of Bitcoin acting as a hedge for portfolios due to its non-correlated nature has only solidified over time. He added that Bitcoin moved in the opposite direction to both the S&P 500 index and gold in …

Wikipedia co-founder Jimmy Wales has expressed skepticism regarding top-10 digital currency Bitcoin SV (BSV), claiming that the coin “offers nothing for Wikipedia.” Wales made his statement right after the team behind the CoinGeek London conference — which promotes Bitcoin SV to stakeholders — announced his participation as a keynote speaker. Wales’s questionable participation “Until the emergence of Bitcoin SV (BSV) to reclaim Bitcoin’s original design, no blockchain had the scalability to power micropayments to efficiently reward better user information and handle the staggering amount of data Wikipedia carries,” the speaker announcement read. However, Wales responded with a tweet on Feb. …