Tag: Bloomberg

Bloomberg: Bitcoin (BTC) Gearing Up For “Short-Term Rally” After Market Turmoil

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Oversold Bitcoin (BTC) Could Rally, Claims Bloomberg Analyst Bitcoin (BTC) has struggled in recent days, that’s no secret. Case in point, the value of cryptocurrencies has undergone drastic price fluctuations in recent days, with assets gaining and losing a handful of percentage points in a few hours’ time. And while all this may be disconcerting, a recent report from Bloomberg has revealed that BTC may be nearing a local bottom, and could move higher from current price levels. The outlet’s Olga Kharif, citing a number of technical measures, noted that…

Canaan May Begin New York IPO by End of Q2 2019, Anonymous Sources Tell Bloomberg

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Chinese Bitcoin mining hardware manufacturer Canaan Creative is considering a new initial public offering (IPO) in New York, Bloomberg reported on Jan. 8, quoting anonymous sources. Canaan, China’s second-largest hardware player, could begin selling its shares in a private placement in the first half of this year, according to the people familiar with the matter who declined to reveal their identity. Canaan, like industry leader Bitmain Technologies, had originally planned to conduct an IPO in Hong Kong, but the $400 million plans lapsed in November. Without quoting the anonymous sources…

Japan May Approve A Bitcoin ETF, Says Bloomberg Source

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Japanese Regulators May Approve Crypto ETFs The approval of a bonafide Bitcoin exchange-traded fund (ETF) in the U.S. — one of the crypto industry’s most important markets worldwide — has long been a quixotic dream for optimists in the cryptosphere. The U.S. Securities and Exchange Commission (SEC) has long been against approving such a financial vehicle, as the entity believes cryptocurrencies are too nascent (lack of sufficient volume, manipulation concerns, limited surveillance) to support such an offering. Case in point, time and time again, the body has either delayed rulings on…

Bloomberg: Bitcoin (BTC) Technicals “Flash Buy” As Crypto Recovers

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Bitcoin (BTC) Technical Indicators Turn Bullish It’s 2019, and it seems that prospects are already looking bright for Bitcoin and the cryptocurrency market at large. According to a recent article posted by Bloomberg’s Vildana Hajric and Reade Pickert, a number of technical indicators/signals have begun show bullish signs, after a multi-month lull in crypto valuations. Per the two reporters, the GTI Vera Convergence Divergence indicator is suggesting BTC has entered its “longest buying streak in six months,” presumably due to the fact that the cryptocurrency hasn’t dropped drastically over recent…

Bloomberg: Wall Street Putting A Pause On Bitcoin Foray

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While 2017’s narrative in the crypto industry was undoubtedly the initial coin offering (ICO) craze, 2018’s was evidently the advent of Wall Street participants. And while strides were made with institutional involvement, with Nasdaq and the Intercontinental Exchange (ICE) both openly backing crypto assets, Bloomberg has claimed that efforts to bring Bitcoin to Wall Street remain in “limbo.” Institutions Putting A Pause On Bitcoin Amid “Crypto Winter” Since a majority of retail investors fled crypto as the “bubble” unwound, those left standing have sought a light at the end of the…

Tether Bank Statements ‘Suggest’ Company Has Full Fiat Reserves: Bloomberg

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Cryptocurrency stablecoin Tether (USDT) really does have fiat reserves equal to the value of tokens in circulation, Bloomberg claimed in a report today, Dec. 18. Citing “bank statements” it had “reviewed,” the publication became the latest source to add fuel to the controversy surrounding Tether, which has raged online since a series of legal tussles and banking reshuffles began last year. According to the statements, Tether, which issues and notionally backs up each unit of USDT with $1, had a combined fiat bank balance equal to or even higher than…

Bloomberg Editor Critical Of Bitcoin (BTC) — Wants Blockchain, Not Crypto

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Bloomberg Former Editor-In-Chief Bashes Bitcoin (BTC) Amid 2018’s tumult and market downturn, Matt Winkler, the former editor-in-chief at Bloomberg News, recently cut out some time to speak with the outlet’s Emily Chang to discuss cryptocurrencies and Bitcoin (BTC). How Bitcoin investors lied to themselves to justify prices https://t.co/5fnMJd5rxZ pic.twitter.com/olDVUgjUSf — Bloomberg TV (@BloombergTV) December 14, 2018 Speaking with the outlet’s anchor in a short interview, Winkler, a world-renowned reporter in the business realm, first explained that Dotcom startups were valued by their cash earnings, a questionable indicator in the eyes…

Bitcoin Price Will Likely Fall to $1,500: Bloomberg Analyst

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On the back of a grueling quarter, the bitcoin price could still see tougher times ahead. One analyst over at Bloomberg sees the flagship cryptocurrency possibly heading toward $1,500. Indeed, bitcoin had a dismal November, as part of a difficult year overall for the crypto market, though the past few days have seen slightly more stability from crypto’s largest asset. However, today it seems that the selling has resumed. Bitcoin has dropped nearly $200 already today, from just over $3,900 down to $3,739 as of the time of writing. BTC/USD…

Nasdaq’s Bitcoin Futures Could Launch in Q1 2019, Says Bloomberg

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Major U.S. stock exchange Nasdaq still intends to launch Bitcoin futures and could do so as soon as Q1 2019, Bloomberg reported Nov. 27. Quoting “two people familiar with the matter,” the publication said momentum was building towards a potential launch early next year. The move comes despite the downturn in Bitcoin (BTC) prices to 13-month lows, marking the tail end of a testing year for existing Bitcoin futures products. According to the two unnamed sources, Nasdaq “has been working to satisfy the concerns of the U.S.’s main swaps regulator,…

Tether Refutes Bloomberg, Reassures Investors Crypto Isn’t Manipulated

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Twitter Facebook LinkedIn Leonardo Real, the chief compliance officer of Tether LLC, believes an organized campaign established by many publications is targeting crypto token Tether (USDT) and its partner banks. In an interview with Cryptonews, the Tether executive reaffirmed that its stablecoin known as USDT is fully backed by the US dollar, citing the attestation reports released by Friedman LLP and Freeh Sporkin & Sullivan, two US-based accounting firms based in New York and Washington. Crypto is Not Manipulated Throughout the past six months, Bloomberg and independent researchers have reported…