The recent carnage in US crude oil futures and the selling in Brent affected the equity markets but did not cause any noticeable fall in the crypto markets. This is a positive sign as it suggests that the crypto markets are gradually decoupling from other assets that are perceived as risky. A recent Bloomberg report outlined several reasons to support their view that Bitcoin is ready for a bull run in 2020. According to Bloomberg, “the unprecedented monetary stimulus” in the wake of the COVID-19 crisis will benefit both gold and Bitcoin. It has said that Bitcoin will become digital …

WTI crude oil price today plunged over 92% to hit an intraday low of $1.1 per barrel at press time, a level which none of us would have even imagined to see just a few months back. This year alone, the asset class is down by over 98%. Excess production, a sharp drop in demand due to the ongoing pandemic, margin calls and the rising popularity of electric cars are some of the factors that have soured sentiment in the asset class. Though the fiat currencies have held up well during the current crisis, the incessant money printing, loss of …

With Bitcoin’s (BTC) halving less than 23 days away, traders would like to go into the event with strong bullish sentiment but this is yet to be determined. If Bitcoin is able to breakout and sustain above its overhead resistance, it is likely to pull the crypto markets higher. The first sign of strength would be if the total market capitalization can sustain above the $211 billion mark. Crypto market data daily view. Source: Coin360 Although Bitcoin is the leader, there are a few altcoins that are showing promise and could outperform the largest cryptocurrency next week. Here are the …

Binance chief executive officer Changpeng Zhao said that trading activity across major crypto exchanges had increased between 3 to 5 times. This is a bullish sign as it “means there are a lot more people coming into the industry.” While quantitative easing and fresh money coming into cryptocurrencies is a positive development, the bull run might not start immediately. However, in the long run, as the supply of fiat currency increases, Zhao said that “mathematics will eventually work” as Bitcoin is a limited asset. In the short-term, Bitcoin’s halving is an important event that can increase the volatility. PlanB,the creator …

Lately, a great deal of attention has been focused on the correlation between Bitcoin and the S&P 500, meaning crypto traders need to keep track of the fundamentals of the equity markets. Global markets continue to be negatively impacted by the coronavirus pandemic and according to a report from the International Monetary Fund, the resulting lockdown in several countries will lead to one of the worst contractions in 90 years. According to the IMF, “even if the spread of the virus peaks in the second quarter for most countries in the world, and recedes in the second half of this …

Ripple’s native token XRP was the worst performing large cap token in 2019 — and 2020 isn’t looking much better so far. Crypto analytics firm Messari this week released data showing XRP was the worst-performing crypto asset in the top 25 coins by market cap in the first quarter of 2020. XRP was also overtaken in volume earlier this week by up-and-coming cryptocurrency Chainlink (LINK) — and it even came close to losing its No.3 spot in the Top 10 to Tether (USDT) during the flash crash in mid-March. Not the pandemic’s fault The wooden spoon award from Messari follows …

Famed investor Mike Novogratz believes that additional crypto adoption and more drastic central bank actions will benefit Bitcoin. The Galaxy Digital CEO said that hedge funds and high-net worth individuals have been buying Bitcoin (BTC). However, Novogratz expects the U.S. equity markets to go down, hence, he “got short Friday for the first time in a while -- both stocks and credit.” Several analysts have suggested that the current crisis is likely to be far worse than the previous financial crisis, which led to the birth of Bitcoin. Gemini co-founder Cameron Winklevoss said that the current coronavirus “pandemic will be …

The Gemini cryptocurrency exchange and trading platform is adding support for three more tokens on April 24. Gemini announced the addition of trading pairs featuring Dai (DAI), Chainlink (LINK), and Orchid (OXT) in a blog post on April 9. The new additions will bring the total number of tradable tokens on Gemini's platform up to nine. Additions based on markets and consumption models Gemini has chosen these tokens in particular for their proven markets and novel consumption models, which suggest the demand will continue to grow as the ecosystem evolves. Dai is the collateral-backed stablecoin of the Maker Protocol’s decentralized …

The number of Bitcoin whales holding at least 1,000 BTC has been rising for the past few months, according to a report by Glassnode. The report also highlights that the accumulation continued during the recent slump on March 12 and 13 when Bitcoin’s price dropped below $4,000 levels. This suggests that the whales are bullish on Bitcoin due to the upcoming halving event in May. Canadian asset manager 3iQ has launched “The Bitcoin Fund,” on the Toronto Stock Exchange (TSX), which is tied to Bitcoin. Tyler Winklevoss said that this was a historic moment as it was “the first public …

This week Chainlink (LINK) is on an absolute tear, gaining 47% over the past four days on strong purchasing volume. The price had dropped by a massive 63.50% from March 11 to March 12 and bottomed at $1.35 on March 13. Since March 13 LINK has rallied 149% and at the time of writing the digital asset was up 6.65% for the day. Other than the entire crypto market recovering from deeply oversold conditions, the recent announcement of new partnerships with decentralized finance giant Celsius, and Fantom could possibly be adding to the current excitement as previous partnership announcements have …

Today, March 30, Celsius Network (CEL) begins using Chainlink’s (LINK) price data feed oracles while offering treasury management services to the oracle platform. The CEO and founder of Celsius, Alex Mashinsky, told Cointelegraph about the rationale behind the partnership: “Celsius wants to be more transparent and more decentralized and that is the main driver for partnering with Chainlink.” The partnership will begin with Celsius using Chailink’s crypto price oracles, after which Celsius will move transactions on-chain for greater transparency. Celsius will provide treasury service to Chainlink, managing “several million dollars” worth of cryptocurrency. Mashinky stated that his company is paying …

Governments and citizens across the world are in a state of panic as cases of coronavirus continue to rise. This has rocked global equity markets for the past few days and volatility has spiked to levels not seen since the last financial crisis. This shows that fear has gripped the traders and they are likely to sell everything at hand. Even gold sold off today. Compared to other assets that have been around for centuries, cryptocurrencies are a new asset class that has not witnessed any major crisis. Hence, the traders are unsure about their performance. Therefore, we do not …