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 …

Industry players said Bitcoin's (BTC) price could be impacted once U.S. governing bodies lift COVID-19 prevention measures, such as stay-at-home orders and business closures. "When the world economies begin to recover and come back online after printing, in the case of the U.S. government trillions of dollars, Bitcoin will most likely become more bullish than we've ever seen it," Metal Pay CEO Marshall Hayner told Cointelegraph in a message, adding: "Altcoin markets with solid foundation and utility with strong usage will potentially move beyond previous heights as we will begin to see the first large crypto banking platforms like Metal …

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 …

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 …

Bitcoin and the crypto universe are going through one of the toughest periods as the world battles the coronavirus pandemic. The central banks and governments are trying to support the economy by announcing several easing measures. While this has improved sentiment in the short-term, it could reduce the value of fiat currencies in the long-term. In a recent interview, Bridgewater Associates co-chairman and co-CIO Ray Dalio said that he does “not think that cash is a safe investment." Barring the panic selling on March 12, Bitcoin has held up quite well in 2020. This shows that long-term investors are unruffled …

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 …

Central banks around the world have pumped up their economies with huge stimulus measures. JPMorgan Chase’s chairman and CEO, Jamie Dimon, praised the United States for taking swift action to counter the current economic crisis. Despite the kind words, in a letter to JPMorgan shareholders, Dimon warned that the future “will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008.” Ballet CEO and founder Bobby Lee expects Bitcoin to reach $10,000 by its block reward halving next month. Lee expects the governments to continue to print huge sums of money …

During a crisis, the first thing panic-stricken investors do is to sell almost every asset class they perceive is likely to go down. However, after the panic settles down, the bottom fishers step in and start buying the assets that show value. We have seen both of these phases play out for cryptocurrencies. The sharp selloff on March 12 was a good example of panic and the sharp correction was quickly followed by a phase of cherry-picking by long-term investors. Since bottoming out on March 13, most major cryptocurrencies have rebounded and continue to press higher. After the selling ends, …

Consumer attitudes are changing towards banknotes and credit cards as reports suggest that the deadly coronavirus can spread by their use. The Bank of International Settlements (BIS) has, therefore, urged the central banks to consider developing central bank digital currencies (CBDCs). BIS believes that under the current circumstance, CBDCs will quickly gain prominence. However, it has warned that this move could have a “severe impact on unbanked and older consumers.” Chamath Palihapitiya, the billionaire CEO of venture capital firm Social Capital, believes that the setting is right for Bitcoin (BTC) to shine. However, he does not find Bitcoin as the …

On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past two weeks the number of laid off American workers seeking unemployment benefits has reached 10 million. If the numbers continue to grow, the government and Federal Reserve is likely to announce another round of stimulus measures. All the money printing is likely to erode the value of the US dollar. In such a case, the investors will search for assets that can protect their buying power and add …