June 7, 2020

If Crypto Custodian Fails, Clients May Not Get a Full Payout

June 7, 2020 boss

A recent paper from academics at Leiden Law School suggests that if a crypto exchange or crypto custodian goes bankrupt, investors could well lose control over their stored coins. This happened in Japan’s Mt. Gox exchange collapse, and more recently with the failure of Italy’s BitGrail exchange. Thus, it could happen again. Indeed, the paper implies that even users of United States-based exchange Coinbase could have problems reclaiming their crypto in the event of insolvency — because Coinbase doesn’t segregate blockchain addresses. So, the question still stands: “Is there a…

The Dow Is Surging – And That’s Awful News for the Housing Market

June 7, 2020 boss

The Dow rose sharply on Friday after the release of a much better-than-expected jobs report. Rising Treasury yields are pushing mortgage rates higher. Higher mortgage rates could impact housing demand. The Dow Jones jumped by more than 3% Friday, surging past 27,000. Friday’s gains add to the rally that started on March 23. The Dow has soared more than 45% since it hit bottom. The Dow surged Friday on positive jobs data. The index is getting closer to its February peak. | Source: Yahoo Finance Stocks rose after the U.S.…

Blame the Fed for Ultra-Zombie Hertz Stock’s Ridiculous 100% Surge

June 7, 2020 boss

Hertz stock doubled in during trading Friday. The recently bankrupt rental car company’s rally is a risky bet against Tesla. And it’s a sign of stock market froth. The Fed’s $3 trillion balance sheet expansion may have something to do with it. The stock market has continued to rally on expectations that the pandemic would be a costly, but temporary interruption to economic growth. But valuations are nearly stretched again like they were at the beginning of 2020. And there are the same clues that a lot of the price…

Forget $10K, Bitcoin $12K Breakout Will Catch Everyone Off Guard

June 7, 2020 boss

Bitcoin (BTC) price yet again surged past $10K for just a few hours before experiencing a short sharp 10% sell-off last week. Each time this happens, crypto Twitter brings out the fanfare rejoicing at the fact that we’ve reached this psychological milestone. It’s almost becoming too predictable, and that is exactly why the eventual breakout will catch everyone off guard. So are there any signals that can help us determine when this might be? Let’s take a look at the charts for the largest cryptocurrency by market capitalization, BTC. Daily…

A Key Indicator Shows the Bitcoin Bear Market Ended Just Days Ago

June 7, 2020 boss

Even though Bitcoin is up more than 150% from March’s lows, analysts have still been questioning if it is just a matter of time before the bear trend continues. A trader that months before March called for Bitcoin to fall to the $3,000s and for XRP to reach $0.11 recently touched on this. He indicated in the chart below that he still sees a scenario where the leading crypto falls to $2,000, and maybe even as low as $1,000, despite the recent recovery. Bearish Bitcoin price chart from il Capo of Crypto Also…

Preserving Personal Privacy While Fighting COVID-19

June 7, 2020 boss

In an effort to keep citizens safe, state authorities have rapidly implemented various emergency plans to curb the spread of COVID-19. In South Korea, the movements of infected citizens are being broadcasted via public text message. In Israel, the government has approved a law to track smartphones belonging to those suspected of being infected. In the United States, the government is in talks with Google and Facebook to access location data, and in the United Kingdom, data giant Palantir is merging data for the National Health Service to inform the…