Day: June 5, 2020

3 Reasons Why Nasdaq’s Black Sheep is Now Millennials’ Favorite Stock

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Genius Brands was set to be delisted from the Nasdaq in August. It now has a new lease of life. On Robinhood, it is the most popular stock of the last month. Short interest in the stock has also inevitably increased. The stock of kids entertainment company Genius Brands International (NASDAQ: GNUS) is the flavor of the month on millennial trading app Robinhood. Over the past month, the number of Robinhood users holding the stock has grown from just over 26,000 to more than 110,000. Consequently, the stock has clinched…

CoinMarketCap Introduces Another Algorithm Update, Binance Remains in Top Spot

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Top crypto data aggregator CoinMarketCap (CMC) has introduced yet another algorithm update following its acquisition deal with Binance, according to a CMC blog post published yesterday.  The data provider, which was purchased for an unspecified sum by Binance in early April, has started adjusting its ranking system soon after the deal took place. As a result, Binance has come on top of its exchange ranking, drawing criticism from the community and other trading platforms.  Latest update brings more metrics to exchange rankings In its latest update, CMC implemented a new…

Bitcoin Exchanges Witnessing Huge Growth Amidst Pandemic and Global Turmoil, Data Suggests

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Using cryptocurrencies as a preferred method to “hedge” against real-world risks seems to be a valid play. Data, collated from various bitcoin exchanges, is now pointing towards a huge surge of users, even as retail activity on traditional markets continues to decline.  COVID Pushes Bitcoin Adoption As per publicly available data on crypto exchanges, investors and traders are rushing into Bitcoin. Further, Binance and retail-focused eToro shared new insights with Decrypt, related to crypto trading activity from new users.  eToro’s Guy Hirst notes there’s a 300-400 percent increase in trading…

Bitcoin Targets $20K against Fed and ECB’s Savage QE Policies

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Bitcoin bulls eye a $20,000 yearly close against the Federal Reserve and the European Central Bank’s expansionary policies. Dan Morehead, the CEO of Pantera Capital, noted that the bitcoin market is already outperforming other assets since the Fed launched an unlimited bond-buying program in March 2020. With ECB following a similar quantitative easing policy, it could prove further bullish for the benchmark cryptocurrency. As Bloomberg predicts Bitcoin to hit $20,000 in 2020, the catalysts that could make it happen are already maturing. The European Central Bank (ECB) on Thursday announced…

Bitcoin Targets $20K against Fed and ECB’s Savage QE Policies

boss

Bitcoin bulls eye a $20,000 yearly close against the Federal Reserve and the European Central Bank’s expansionary policies. Dan Morehead, the CEO of Pantera Capital, noted that the bitcoin market is already outperforming other assets since the Fed launched an unlimited bond-buying program in March 2020. With ECB following a similar quantitative easing policy, it could prove further bullish for the benchmark cryptocurrency. As Bloomberg predicts Bitcoin to hit $20,000 in 2020, the catalysts that could make it happen are already maturing. The European Central Bank (ECB) on Thursday announced…

Bloomberg’s Pie-in-the-Sky Bitcoin Call Looks Directionally Defensible

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Based on a slew of recent predictions, bitcoin prices could more than double this year to $20,000. Or go to $250,000 by early 2023. Or $300,000 within five years. What’s confounding cryptocurrency traders now is the wide gap between such lofty forecasts and the banal reality: Since late April, bitcoin has traded in a range between roughly $8,500 and $10,200.   Thursday’s market action was no different, with prices rising 1.3% to about $9,800. The highest in two days. Not much to get excited about.   You’re reading First Mover, CryptoX’s daily markets newsletter. Assembled by the CryptoX Markets…

Bloomberg’s Pie-in-the-Sky Bitcoin Call Looks Directionally Defensible

boss

Based on a slew of recent predictions, bitcoin prices could more than double this year to $20,000. Or go to $250,000 by early 2023. Or $300,000 within five years. What’s confounding cryptocurrency traders now is the wide gap between such lofty forecasts and the banal reality: Since late April, bitcoin has traded in a range between roughly $8,500 and $10,200.   Thursday’s market action was no different, with prices rising 1.3% to about $9,800. The highest in two days. Not much to get excited about.   You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets…

Bullishness Building in Bitcoin Options Market, Data Suggests

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Option market traders look to be placing bets for a continued upward move in bitcoin, according to a key metric.  The put-call open interest ratio, which measures the number of put options open relative to call options, fell to 0.43 on Thursday – the lowest since March 24, according to crypto derivatives research firm Skew. The data takes into account open interest at leading derivatives exchanges Deribit, OKEx, CME, LedgerX and Bakkt.  Notably, the ratio has declined sharply from 0.81 to 0.43 over the last four weeks. “The put-call ratio…

This PS5 Leak is the Alleged Final Console Design – But We Don’t Believe It

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Ahead of an official reveal, the final PS5 design has allegedly leaked online. It retains the distinctive V shape of the devkit, although scaled down. Sony has promised to offer new details about a rescheduled PS5 event soon. Earlier this week, reports emerged that the PS5 was entering the final stages of the manufacturing process. The news led us to speculate that Sony would struggle to plug leaks unless it pre-empted by revealing the console. A few days later and it seems this is already happening. What appears to be…