June 6, 2020

The Global COVID-19 Pandemic Gave People the Mandate of Independent Money

June 6, 2020 boss

The COVID-19 pandemic forced the world to hit the brakes on economic activity, and in response, the United States Federal Reserve has introduced trillions of U.S. dollars to pay for the stimulus packages it’s giving away. Naturally, many people have jumped to inflation as the forgone conclusion. Proponents of Bitcoin (BTC) are excited about the prospect of inflation because the cryptocurrency has been billed as a check against central bank expansion, and such a period of inflation would demonstrate Bitcoin’s value in this regard. But inflation is not a foregone…

Bitcoin Price Looks Like a “Carbon Copy” of Gold, and That’s Bad for Bulls

June 6, 2020 boss

Since the $8,600 lows seen at the start of the week, Bitcoin has mounted a strong comeback, recovering to ~$9,800. A growing number of analysts, however, have said that the recovery is just noise in an otherwise bearish trend. They cite fractals and textbook patterns suggesting that it is only a matter of time before BTC falls back towards the $8,000s, then maybe even lower. Bitcoin Looks Almost Exactly Like Gold — and That’s Bearish A fractal is a technical term used by investors to describe a phase of price…

Bitcoin Price Looks Like a “Carbon Copy” of Gold, and That’s Bad for Bulls

June 6, 2020 boss

Gibraltar Financial Watchdog Issues Warnings for Four Crypto Sites

June 6, 2020 boss

On June 5 the Gibraltar Financial Services Commission, or GFSC, published four public warnings against cryptocurrency websites that claim to have an alleged license to operate in the territory. According to the authorities, www.askcurrency.org, www.findcurrency.org, www.arbitragecurrency.org, and www.etrustcoin.com have not been licensed or authorized by the GFSC — nor do they have an application pending for authorization. The Gibraltar financial watchdog also notes that such websites are displaying the GFSC logo, which has been applied “without the consent of the GFSC.” Alleged crypto sites are also not in an “initial…

VeChain Bolsters Traceability of Chinese Pork Products

June 6, 2020 boss

Traceability-focused blockchain project, VeChain, has announced a partnership with China’s Shenzhen Yuhongtai Foods Company. This will allow Shenzhen to track pork products distributed by the retailer’s subsidiary, Meijiada Fresh Foods. The partnership will see detailed information concerning how pork sold by Meijiada was raised and its route to supermarkets, with fresh meat products sold by the chain mandated to be sold on the same day as harvest. Unsold produce is “systematically collected and processed, and will not be sold the next day.” Blockchain to trace premium pork in China Meijada…

US Regulators Have Double Standards When It Comes to Bitcoin

June 6, 2020 boss

Bitcoin (BTC) exchange-traded funds, or ETFs, have faced unfair pushback from U.S. regulators, according to VanEck director and digital asset specialist Gabor Gurbacs. “There’s a persistent double standard against Bitcoin and digital assets, which I think is wrong,” Gurbacs told host Max Keiser on a recent episode of the Keiser Report. Bitcoin ETF denials by the bushel In its simplest form, a Bitcoin ETF is a financial product traded officially on mainstream stock markets, with shares representing exposure to Bitcoin’s price. A Bitcoin ETF might be cash-backed or BTC-backed, depending…

Warren Buffett Should Follow His Own Advice – He’d Be $81 Billion Richer

June 6, 2020 boss

Warren Buffett’s Berkshire Hathaway has underperformed the broader stock market for a decade. If he followed his own advice and just bought an S&p 500 tracker fund, he’d be $81 billion richer. In fact, he’d be the richest man on the planet. It’s been a rough year for Warren Buffett. The March sell-off wiped out much of his portfolio at Berkshire Hathaway (NYSE: BRK.A) and it hasn’t bounced back. And this isn’t just a short-term problem. The Oracle of Omaha has lagged the broader S&P 500 for a decade. Proof…

This Ethereum Liquidity Trend Suggests ETH Bulls Are Incredibly Strong

June 6, 2020 boss

Ethereum has been caught within a bout of sideways trading throughout the past several days and weeks, struggling to garner any decisive momentum as it hovers within the mid-$240 region. The crypto did witness some immense volatility earlier this week that caused it to plummet to lows of $230 before posting a strong rebound that led it back up to its current price levels. The price action seen throughout the past few days has done little to offer investors clarity into the cryptocurrency’s near-term trend, as it still remains unclear…