Tag: Bloomberg

Top Traders Held Talks on Making Crypto Part of Global Financial Architecture: Bloomberg

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More than 20 of the crypto market’s biggest traders gathered in January for talks on making digital assets and tokens part of the global financial architecture, according to a Bloomberg report published on April 25. The meeting was reportedly arranged by Standard Chartered executive Hoe Lon Leng — and representatives from Galaxy Digital, Coinbase and Binance were among those said to have attended the talks at a luxury resort in Singapore. Bloomberg reported that the meeting has resulted in plans for a clearinghouse for crypto derivatives that would reduce trading…

Bitcoin at Most Overbought Level Since Record Bull Run: Bloomberg Analyst

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Bitcoin (BTC) is at its most overbought level since its record highs in December 2017, Bloomberg Intelligence analyst Mike McGlone claimed in an article published on April 5. Per the report, Bitcoin’s GTI Global Strength Indicator shows that the coin has not been this overbought since its price neared its record peak of $20,000. Bloomberg also claims that similar patterns in the past have heralded multi-week long downturns. Bitcoin’s GTI Global Strength Indicator. Source: Bloomberg According to McGlone, recent market market growth occurred because of long-term price compression and low…

Bloomberg, CNBC Both Snuff Bitcoin (BTC) After 20% Spike

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Mainstream Media FUDs Bitcoin Bitcoin (BTC) spiked by 20% over the past 72 hours, pushing the cryptocurrency above $5,000, and mainstream media seems to be back with pushing FUD. In a recent comment given to CNBC Make It, Peter Mallouk, the president of Creative Planning, a wealth management firm, overtly lambasted BTC. He explained that the market is “most likely” to see “cryptocurrencies collapse,” from coins like BTC and Litecoin to Ethereum and Ripple’s XRP. Mallouk adds that he sees no logical way that “even a fraction of them” somehow…

Bitcoin Posts Six Weeks Of Gains, Bloomberg Claims BTC Rally Could Continue

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Weeks And Weeks Of Crypto Gains For the first time in a blue moon, cryptocurrencies have posted consistent gains for the better part of two months. Rhythm Trader, a leading industry analyst that is also known as Alec Ziupsnys, recently pointed out that for the first time since Bitcoin breached $20,000, BTC has posted six weeks of consecutive gains. In mid-February, BTC rallied by 2.9%, then 1.58%, 2.86%, 1.73%, a mere 0.11%, and then, most notably, 3.18% over the last week. For those not wanting to deal with a handful…

CoinMarketCap Launches Crypto Indices on Nasdaq, Bloomberg, Others

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CoinMarketCap announced that it will launch two cryptocurrency benchmark indices on Nasdaq Global Index Data Service, Bloomberg Terminal, Thomson Reuters Eikon and Börse Stuttgart. The news was revealed in a post on the crypto data firm’s blog, published on March 20. The two indices are calculated and administered by German index provider Solactive, the post notes. Per the announcement, the indices will cover the top 200 cryptocurrencies by market capitalization, one including Bitcoin (BTC) and one without it. The latter benchmark will be called CMC Crypto 200 ex BTC Index…

Bitcoin Price Rally Could be on Last Legs, Bloomberg Analyst Warns

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A key market indicator shows that the Bitcoin price rally may be losing steam. According to Bloomberg, “Bitcoin’s Moving Average Convergence Divergence indicator has been steadily falling since mid-February.” MACD is a commonly used metric for technical analysis. When it diverges from the symbol, it means that a trend may be over with. Watch out Bitcoin Bears – MACD Isn’t Everything Bitcoin’s MACD has been steadily falling since last month, which could signal that the crypto market’s recent recovery is already coming to an end. | Source: Bloomberg Let’s keep…

Bitcoin (BTC) Closing February Green Might ‘Not Mean Much’: Bloomberg

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Bitcoin Closed Green… Finally What a horrid 2018 the digital asset market had. Although there were some silver linings in the crypto cloud, yesteryear was arguably rife with suffering and pain for investors at large. In fact, as per Dow Jones Market Data, which dates back to July 2010, Bitcoin (BTC) posted month-over-month red candles for half a year, the asset’s longest losing streak in its history. But, as February has come to a head, the streak of lower lows has finally ended. In the past 28 days, the flagship cryptocurrency has…

Bitcoin (BTC) Closing February Green Might ‘Not Mean Much’: Bloomberg

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Bitcoin Closed Green… Finally What a horrid 2018 the digital asset market had. Although there were some silver linings in the crypto cloud, yesteryear was arguably rife with suffering and pain for investors at large. In fact, as per Dow Jones Market Data, which dates back to July 2010, Bitcoin (BTC) posted month-over-month red candles for half a year, the asset’s longest losing streak in its history. But, as February has come to a head, the streak of lower lows has finally ended. In the past 28 days, the flagship cryptocurrency has…

UAE’s Largest Real Estate Firm Emaar Denies Reports That It Accepts Crypto: Bloomberg

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The United Arab Emirates’ (UAE) largest real estate development firm, Emaar Properties, has officially denied reports that it enabled crypto payments for property, Bloomberg reported on Feb. 20. Known for developing the world’s tallest building, Burj Khalifa — located in Dubai — the firm told Bloomberg that it currently accepts only fiat currencies, such as UAE Dirhams (AED) or United States dollars as payment for property purchases. The publication cited an Emaar Properties spokesperson as providing the confirmation. In the report, Bloomberg cited Australian crypto-focused website Micky as one of…

Bloomberg Shows Complete Misunderstanding of JPM Coin Crediting It with Bitcoin Price Rise

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Photo: David Martin / Flickr Following the news of February 14 about JP Morgan‘s launching its new cryptocurrency dubbed JPM Coin, a lot of controversial responses from crypto community continue to appear on the Web. Some crypto enthusiasts have met the news with promising expectations, while others have taken it with mistrust. However, the most unexpectedly outrageous response came from Bloomberg, the well-known financial media outlet, which reported that the launch of JPM Coin is boosting Bitcoin price. At the time of JP Morgan’s announcement, the crypto market cap was actually down…