Bitcoin surges toward $39K as stocks volatility keeps Wall Street on edge
Feb. 4 delivers more of the same for both tech stocks and crypto, with Bitcoin adding $1,000 on the Wall Street open. Bitcoin (BTC) kept investors guessing with tech stocks as Wall Street opened on Feb. 4, circling $38,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks continue volatilityData from Cointelegraph Markets Pro and TradingView followed a ranging overnight period for BTC/USD, bulls hoping for clearer validation of recent gains.After 15% daily gains the day before, Amazon (AMZN) continued its uptrend on Feb. 4, jumping 10% at the open, while embattled Meta (FB)....
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Bitcoin Volatility at Wall Street. Why does Bitcoin's value fluctuate? Why will it continue to fluctuate? Simple! It's because that's what small caps do! It's what they've always done and always will do, and here's why. Bitcoin fulfills two functions; it is a currency and it is also an investment. As a currency, it fulfills many of the functions and behaves like, well, a currency. As an investment, it fulfills many of the traditional functions of an investment. It behaves in a similar way to traditional investments, namely stocks and bonds, that gives it volatility. In order to explain why....
There’s a correlation between macroeconomic factors and crypto assets like Bitcoin. Harsh and stricter factors increase the volatility of virtual tokens negatively. This is also the case for equity stocks and their markets. The past week brought a downtrend to the primary cryptocurrency. Bitcoin was seen going toward the $19,000 region without any anchor. The south movement by the entire crypto market became more drastic as the US Federal Reserve released its new rate increase. Also, the equity market was not left out of the trend. Related Reading: LUNC Price Increases as Binance....
Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed. The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology. Jamie Dimon, JP Morgan....
Wall Street Chads is the first NFT project to create a decentralized community-run investment platform. Inspired by WallStreetBets, the infamous subreddit community which is credited for the meme-investing craze and coordinating one of the largest short squeezes in history, Wall Street Chads leverages the power of the blockchain to bring the same community-driven investment strategies […]
Do Wall Street’s woes have anything to do with bitcoin’s bounce? Bitcoin was one of the few winning investments in the worst first week of the year for U.S. stocks, according to The Wall Street Journal. The Dow Jones Industrial Average (DJIA) and the S&P 500 had their worst first weeks in history. Bitcoin, gold, the yen and natural gas were in growth modes. At the close of trading Friday, the DJIA fell 6.2%, the S&P 500 lost 5.96%, and the Nasdaq was down 7.3%. In addition, 10-year Treasury yields fell 0.141 percentage points to 2.131% and Nymex crude oil dropped 10.48%. The DJIA’s....