Does News Really Move The Bitcoin Market?
How much of an effect does news (both good and bad) truly have on the market? Ask a taxi driver anywhere, from NYC to Kathmandu, what they think about the price of oil, and you're likely to get a comprehensive answer, including an opinion about the Gold price - and perhaps, the Bitcoin market's next rally. Information about commodity prices and their causal relationships is pervasive, and most people have not only an opinion about the market, but a forecast or two depending on the potential economic outcomes they perceive. Several of my colleagues have written articles discussing some of....
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Bitcoin’s price soared higher today on news of Tesla acquiring $1.5 billion worth of BTC to add to their balance sheets This news was revealed in a recent SEC filing and naturally caused the entire crypto market to make a massive move higher This news is already driving massive demand towards Bitcoin, with on-chain data revealing a massive premium on Coinbase This is typically a bullish sign because it signifies that an uptrend is being […]
Price at the time this article was written is: US$237.44. Last week, the article began with: “The good news continues to be discounted, which generally isn’t indicative of a move higher. On the other hand, there’s an old adage which applies here: ‘Never short a dull market.’” Resolution of this range should come soon and it could be a big move since there has been less and less on-exchange liquidity in recent months. Technically we are pretty much in the same place with perhaps a more bearish leaning slant since price is having so much difficulty staying above its 50 day EMA. As has been....
In the article "Why The Bitcoin Price Drop Is Really Good News" I mentioned the upcoming issues on the horizon for the U. S. Dollar. Many nations are trading internationally without it now, and these "bilateral trade agreements" are on the rise. Growing global disinterest in the dollar will only increase the need for monetary alternatives that can be easily sent globally, like Bitcoin. Now, news is breaking out of Russia that they may be ready to end their time using the U. S. Dollar as Russia can move from the US Dollar much sooner than we thought. Also read: Russia Plans Bitcoin Ban by....
Litecoin has recorded massive price movement in the past hour. The coin started to rally after Reuters had reported that retail giant Walmart would begin accepting the cryptocurrency as payment for purchases. The news broke on Monday with a press release that stated Walmart had partnered with Litecoin to allows customers to make payments with LTC. The news triggered a price surge that saw the price of Litecoin grow 30% in a single hour, breaking a three-month high of $237. Before the news broke, Litecoin has been trading in the mid-$170s at $175. News of the Walmart partnership over $60 in....
Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. At the same time, the stock market is surging. Could a perfect storm for the top cryptocurrency by market cap be building? Back At $28,000: Grayscale Court Ruling Causes BTC To Bounce In an asset class as volatile as crypto, prices — and moods — can change in a flash. That’s exactly what we’ve witnessed on a small scale today, moments after news broke that a US court is forcing the SEC to reconsider Grayscale’s Bitcoin ETF. Related Reading: BREAKING: Grayscale....