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May 7: The Traders' War... New vs Seasoned...
Bitcoin is now up close to 3% past 24 hours as it spiked through $9400 for a bit even as U.S. equities traded poorly, leaving me with the thesis that BTC is starting to break away from moving in lockstep with S&P 500 until and after the havling event. In fact, the 1-year rolling correlation between Gold and Bitcoin is nearing all-time high, so we could start seeing it behave more like Digital Gold.
China’s Tencent Will Invest 500 Billion Yuan in Blockchain and New Technology Infrastructure
Chinese tech giant Tencent Holdings, the owner of China’s messaging platform WeChat has announced that the company will be investing 500 billion yuan ($70 billion) in the next five years in emerging technologies including blockchain, artificial intelligence (AI), cloud computing, and cybersecurity. Tencent is aiming to strengthen the development of FinTech in China, following the push of accelerating the development of blockchain as stated by the country’s President Xi Jinping.
US Travel Firm CWT Paid $4.5 Million in Bitcoin to Get Computer System Back from Hackers
US travel management company CWT paid $4.5 million to hackers who stole sensitive corporate files. CWT has a global clientele and is the fifth-largest US travel company. The firm boasts an estimate of $1.5 billion in annual revenue and claims that it represents more than a third of companies on the S&P 500 U.S stock index.
JPMorgan Expects the S&P 500 to Rally, Will Bitcoin Follow?
JPMorgan expects that the S&P 500 would rise to between 3,500 and 3,600 by the end of 2020, and 3,750 by this time next year, a 10 percent growth.
Bitcoin's Correlation with S&P 500 at a Nine Year Peak, says Quantum Economics Founder Mati Greenspan
Mati Greenspan, founder of Quantum Economics believes the coronavirus pandemic has brought Bitcoin closer to the S&P 500 than ever before.
Cardano Successfully Changes K Parameter to 500, Blocks Assigned to Community Pools Increased by 6%
Cardano has successfully changed its k parameter to 500, from 150 on Dec. 6, as announced by IOHK, the development company behind the Cardano blockchain.
Bitcoin Could Follow S&P 500’s Potential Fall After Slight Bullish Trend from US Employment Report
Bitcoin showed signs of a slight bullish uptick in its first session in July and maintained a short-term positive correlation with the S&5 500. Bitcoin and stocks investors are waiting for the next big decision that could drive a new rally—whether or not the Federal Reserve would expand its stimulus operation before it expires in July.
What Happens if Bitcoin’s Price Surpasses $14,000? BTC Breaks Correlation with the S&P 500
Bitcoin has continued to surge after breaking through its resistance level at $12,000 last week following a series of institutional bullish Bitcoin news.
“2020 5th Global Asset Allocation Focus” will be held in Shanghai in August
Global Asset Allocation Focus 2020 (hereinafter referred as GAAF2020), founded in 2016. With a four-year proven-track record, GAAF2020 will invite more than 500 participants from more than 10 countries, who are mainly senior executives from private banking, family office, independent wealth, asset management, funds, securities, trusts, insurance, futures, etc. GAAF2020 will invite 40+ speakers to share their insights on the theme of "Chinese Opportunities".
Crypto Wallets Holding More Than 1 ETH Break the Record as Ethereum Surges Past $500
New data from Glassnode reveals that crypto wallets holding more than one Ethereum (ETH) have hit a record high of 1,170,598 addresses.
Estonia Revokes 500 Crypto Business Licenses in a Move Against Illegal Money Laundering Activities
Estonian authorities have recently revoked licenses from 500 crypto firms, and consequently tightened market regulations within the crypto sector.
Bitcoin's Performance Outshines Gold and the S&P 500 Despite Recent Price Corrections
Bitcoin has outperformed gold and the S&P 500 in the past 12 months, but is the cryptocurrency's growth sustainable?