3 Crypto Charts That Prove Bitcoin Is About to Bleed Market Share

By CCN: “Alt season” is one of the most profitable phases of the cryptocurrency market cycle. It is a period when all altcoins – from large-cap to small-cap – go through exponential growth, often at the expense of bitcoin. We experienced this phenomenon early this year, until bitcoin’s parabolic rise over the last few weeks shattered many altcoins to the point of capitulation. With many large-cap coins suffering tremendous losses, it is easy to assume that altcoins are bearish. However, nothing could be further from the truth. A closer analysis…

Bet on Bitcoin for Better Returns Than US Stocks, Insists Wall Street Veteran

By CCN: On CNBC’s Fast Money, Morgan Creek Digital founder and CEO Mark Yusko, said that bitcoin makes a great diversifying asset in a stocks portfolio and that every investor should invest in the dominant cryptocurrency. Hedge fund vet @MarkYusko says bitcoin is a better bet than stocks. pic.twitter.com/mbnwGJUmNi — CNBC’s Fast Money (@CNBCFastMoney) May 22, 2019 Since January, in less than six months, the bitcoin price has risen by more than 100 percent year-to-date, outperforming every major stocks index such as the S&P 500. Bitcoin Over Stocks? Or Both?…

Bitcoin Miners are Hoarding, Demand Is Rising

By CCN: Now that the bitcoin price is holding at the $8,000 level, investors are anxiously awaiting what comes next. Bitcoin’s value has expanded by 50% over the last 30 days, but the bulls are currently taking a breather and momentum appears to have stalled. Crypto fund manager Brian Kelly on CNBC provided some anecdotal evidence that the bitcoin price is only getting started, not the least of which is that miners are reportedly hoarding bitcoin rather than directing it toward total circulation, which is helping to fuel gains in…

Bitcoin Price Blitzed $20,000, 13 Days After it Last Closed at $8,300; Déjà Vu?

By CCN: Year-to-date, the bitcoin price has surged by 113 percent in a stunning recovery, achieving $8,000 in merely six months after plunging to $3,150 in December 2018. Although bitcoin experienced extreme volatility in recent days, it’s up significantly in 1 month (source: coinmarketcap.com) As said by Thomas Lee, a co-founder at Fundstrat Global, bitcoin has historically tended to record most of its gains in a short time frame, typically in a 10-day window, unlike traditional assets and asset classes. 2/ Reminder that BTC generally generates all of its performance…

$25,000 Bitcoin Price Next for Perma-Bull Lee after Ringing Crypto Winter Dead

By CCN: Fundstrat CEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his $25,000 price prediction. If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment. After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact. As…

Here’s What Triggered Bitcoin Price Above $8,000

By CCN: The bitcoin price has surged by seven percent in the past several hours from $7,300 to around $8,000 in major markets including the U.S., demonstrating a strong recovery from its abrupt drop to $6,400. The bitcoin price surges seven percent in less than four hours (source: coinmarketcap.com) On May 17, as CCN reported, the bitcoin price briefly plunged to $6,400 by more than 18 percent against the U.S. dollar. Market eating up an 18% bitcoin drop quickly is a sign of positive sentiment Analysts including Dovey Wan, a…

Crypto Bulls and Bears Wrestle on What Comes Next for the Bitcoin Price

By CCN: Many in the crypto community remained calm and banded together despite the steep drop in the bitcoin price on the heels of an otherwise incredibly bullish month. Bitcoin’s value was slashed by approximately $21 billion in the last 24 hours, with the BTC price currently holding above the $7,000 threshold. The declines were traced back to a mega sell order on Bitstamp exchange, either creating an opportunity for investors who missed the previous run or providing a warning before the other shoe drops. Of course, crypto bulls and…

Shocking! ‘Bitcoin Wins the Trade War’ as Chinese Investors Pile In

By CCN: Bitcoin is on a tear as the price of the flagship cryptocurrency has gone supersonic in 2019. It is widely believed that bitcoin’s remarkable rally is a result of booming institutional interest in the cryptocurrency, as investors are looking for alternative asset classes to park their funds at a time when the stock market is in turmoil and the global economy is on edge. But it looks like institutional buying isn’t the only catalyst driving bitcoin’s price. The Chinese are reportedly piling into bitcoin, believing it to be…

Bitcoin Analyst Destroys Mr. Wonderful After Shark Tank Star Slams Crypto

By CCN: When it comes to ignorant allegations about bitcoin, Shark Tank’s Kevin O’Leary took the cake this week, managing to hit every wrong button in trying to bash the suddenly-resurgent cryptocurrency. Kevin O’Leary: Bitcoin a ‘Scam’ & ‘Total BS’ O’Leary, also known as “Mr. Wonderful,” tried to debate bitcoin enthusiast Anthony “Pomp” Pompliano on CNBC’s SquawkBox Tuesday. The co-founder and partner at Morgan Creek Digital crushed him like a cockroach, which is precisely what O’Leary calls entrepreneurial hopefuls’ ideas when he viciously shoots them down. In bashing bitcoin, O’Leary…

Bitcoin Proves to Be a Hedge to Investors During ‘Stressful Trade Wars’

By CCN: The U.S./China trade war stage has been set with no finale in sight, and the unlikely beneficiary appears to be bitcoin. While it’s still early days, the crypto is emerging as a viable global hedge. Travis Kling, CIO of crypto asset management firm Ikigai Asset Management, told TD Ameritrade the rally in crypto caught him by surprise considering “the increase in stress from what’s going on with the trade war.” He offered a possible catalyst for the gains, saying: “This is a hedge against irresponsibility from governments and…