Day: November 17, 2020

Bitcoin Traders Discuss the Likely Short Term Correction Case For BTC Price

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The Bitcoin price is hovering above $17,700 after an explosive overnight rally. Albeit the market sentiment is at its peak, some traders anticipate a healthy BTC price pullback might occur. Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said an average 30% correction would mark a healthy pullback for BTC. If BTC declines by 30%, it would see a decline to around $13,000. But other traders who recognize that Bitcoin would otherwise have seen a correction at around $16,000 say market dynamics might have changed. A…

This $29B Asset Advisory Is Giving Wealth Managers and Clients a Bitcoin On-Ramp

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Somewhere between the Coinbase hawk and the institutional bitcoin whale lies a growing class of high-end retail investors pushing their money managers to join the bull run. Their calls grew loud enough for Mariner Wealth Advisors to take action. Now, the registered investment advisory (RIA) whose network of independent financial advisors (FA) manage $29 billion, is giving its 23,000 clients a way to jump in. On Tuesday, Mariner Wealth announced its 346 FAs will soon have access to the bitcoin markets through a separately managed account (SMA) set up by…

Traders Brace for Major Volatility as Bitcoin Price Nears Record Highs

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Bitcoin traders expect a significant increase in volatility as the leading cryptocurrency continues to recoup nearly all its losses since topping out just below $20,000 in late 2017. Whether the volatility comes from increased buying or selling is a matter of disagreement.  Through bitcoin’s current rally, volatility has remained low. Since late August, 30-day volatility has remained below 0.03 and 180-day volatility has steadily decreased from 0.05, according to data from Coin Metrics.  Over the same period, bitcoin has gained nearly 80% after a brief dip to $10,000 at the…

AMZN Stock Rises 1% as Company Launches Amazon Pharmacy

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Amazon has launched its Amazon Pharmacy service for the sale of prescription drugs in the US. The products will be delivered free for Amazon Prime members. American multinational technology company and e-commerce giant Amazon.com Inc (NASDAQ: AMZN) has made its official foray into the pharmaceutical scene with the launch of Amazon Pharmacy. As reported by CNBC, Amazon’s debut into the pharmaceutical space comes after years of strategizing and after acquiring PillPack back in 2018. Per the CNBC report, the entire Amazon Pharmacy business is designed based on PillPack’s model. While…

Bitcoin Erupts to $17,750 as Buying Pressure Floods In

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Bitcoin is erupting higher once again after managing to pass $17,000 just hours ago earlier this morning. It appears that the cryptocurrency is entering the “blow-off top” phase of the market cycle, surging hundreds of dollars higher over the span of a few hours. At the local peak, Bitcoin traded for $17,750, though now trades for $17,600 after a slight retracement. It is unclear if the cryptocurrency will continue its ascent in the hours ahead as the momentum seems to have paused for the time being. Chart of BTC’s price…

Blockchain Bites: Bitcoin’s Run, Uniswap’s Hemorrhaging Value, Anchorage’s Banking Bid

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Bitcoin is nearing all-time highs in price and market cap last set three years ago. Anchorage has applied with the OCC for a national bank charter. Community members have proposed a vote to reinstate Unsiwap’s liquidity mining program. Top shelf 15% belowBitcoin traded above $17,000 Tuesday at 12:00 UTC for the first time since Jan. 7, 2018, according to the CoinDesk 20 price index. This move puts the cryptocurrency 15% below its all-time high of $20,000 set in December 2017, and up nearly 130% on the year. The rise also…

Bitcoin price blasts by $17.5K, but not all agree rally is sustainable

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The price of Bitcoin (BTC) exceeded $17,400 in a strong intraday rally. On Coinbase, BTC even came close to the $17,700 mark, setting a new two-year high. As BTC glides through the multiyear resistance above $17,000, analysts are divided on its short-term outlook. Some say that BTC is primed for a pullback as whale deposits begin increasing. Others believe there is little resistance until $20,000 and that an all-time high is likely before the next deep correction. The momentum of Bitcoin in the past month has been particularly impressive due…

Home Depot (HD) Stock Down 3% Even after Better Than Expected Q3 Earnings

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Home Depot’s Earnings Per Share came in at $3.18 against the $3.06 expected from analysts. The retailer’s total sales surged by 24% from the year-ago period. The shares of Home Depot Inc (NYSE: HD) plunged in the pre-market and continued following after the market opened despite the retailer posting better than expected Q3 earnings. As reported by CNBC, Home Depot posted revenue of $33.54 billion as against the $32.04 billion expected by analysts surveyed by Refinitiv. Home Depot ranks as one of the retailers that saw an increase in growth…

‘Nakamoto Terminal’ selected prize winner of CFTC’s first science competition

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A blockchain data platform has been selected the winner of the Commodity Futures Trading Commission’s first science competition, offering yet another compelling sign that distributed ledger technology has burst onto the mainstream. Nakamoto Terminal, a digital-asset analytics platform built by open-source intelligence company Inca Digital, has won the CFTC’s “Project Streetlamp” competition. Nakamoto Terminal was also named “Innovator of the Year” by the CFTC for its successful submission. The Project Streetlamp competition challenged innovators to come up with an artificial intelligence solution that could help the CFTC “automate the process…