Why Post Debate Stock Market Performance Could Be Bad For Bitcoin

E-commerce giant Paypal’s stock price surged to a new all-time high of $223.16 on Monday, December 14. Since November 12, when the payments giant opened the way for its US customers to start trading cryptocurrency, the stock has soared 17%. Paypal’s Turnaround The stock’s record-breaking performance comes after Paypal recently reported a drop in its third-quarter earnings in October. While that performance subsequently forced Paypal not to provide preliminary guidance for 2021, there is, however, a belief that the cryptocurrency trade service will result in a turnaround....

Bitcoin’s trajectory toward $100,000 is more real than ever, data shows, while one naysayer warns that the market is $11,000 overvalued. Bitcoin (BTC) is precisely following price predictions and not making investors wait longer for gains this bull cycle, says famous quantitative analyst PlanB.In a tweet on Dec. 17, the creator of the stock-to-flow price model noted that in its current halving cycle, Bitcoin’s growth is going as planned.BTC price hits $23,562 stock-to-flow targetDespite huge volatility this week, stock-to-flow remains conspicuous in its ability to forecast the pace of....

Since the beginning of the COVID-19 pandemic and after an initial dip, the stock market has performed exceptionally well for such an economically uncertain time. The SPDR S&P 500 electronically traded fund (ETF), which provides a good indicator of the stock market’s overall performance, has increased in value by 32% year-over-year (YoY) and 39% since the beginning of January 2020. While these returns are impressive, the performance of Bitcoin has surpassed expectations and greatly exceeded the performance of the S&P 500. Bitcoin’s value has drastically increased by....

Crypto coins exhibited exponential growth through the years, raising attention to the crypto space. There was no correlation between crypto performance and the conventional stocks of different commodities. However, all that seems to be fading into thin air from the recent activities and trends of digital assets. The chief economist of Coinbase, a crypto exchange, has reported a change in the risk profile of crypto assets. According to the analysis from Cesare Fracassi, crypto performance is similar to those of stock commodities. This means that prices of crypto assets now share the same....

Crypto exchange giant Binance announced an expansion in investment offerings with the platform’s latest addition of stock tokens.  What exactly are stock tokens? According to Binance’s blog post, these tradable tokens will enable potential crypto investors to gain exposure to the traditional stock market. They are zero-commission digital tokens that are fully backed and collateralized […]