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After reaching a point of extreme greed, the crypto market in a flash turned to fear. But investors shouldn’t panic––according to stock market analysts, the recent crash was normal profit-taking and portfolio rebalancing.

Could that also be the case with crypto, and the market will soon recover after what is a normal and healthy correction?

Is The Current Market Correction Healthy, Or A Sign Of A Deeper Drop Developing?

Across all markets this week, there’s been a massive selloff across the board. Among the hardest hit, were overvalued tech stocks and cryptocurrencies. The Dow Jones and the S&P 500 also slid, but nowhere near as violently.

Market sentime ... Read more »

Category: News | Views: 131 | Added by: danyagames2007 | Date: 05.09.2020 | Comments (0)

Yearn.finance (YFI) remains in an advantageous position despite its strong correction from local highs, analysts say.

Like Bitcoin, Ethereum, and other top digital assets, YFI has faced a strong retracement over recent days as legacy markets have been crushed by a rising dollar. The decentralized finance coin has been hit especially hard, actually.

Check out the chart below, which shows that the Ethereum-based coin has faced a steep correction over recent days after peaking just shy of $40,000.

... Read more »

Category: News | Views: 126 | Added by: danyagames2007 | Date: 05.09.2020 | Comments (0)

A two-sided liquidity marketplace just might be the catalyst that will drive the next wave of digital asset trading growth.

Two-sided marketplaces are more than a smart business model. These platforms can democratize access and promote widespread economic inclusion in previously inaccessible markets. They have worked wonders in myriad verticals already — e.g., stock exchanges — and the world of digital asset liquidity may now be fertile ground for this business model.

Successful new platforms bring together buyers and sellers who would otherwise be unable to connect, creating entirely new value streams for sellers who capture more revenue. Meanwhile, buyers gain access to new capabilities, creating a win-win for ev ... Read more »

Category: News | Views: 121 | Added by: danyagames2007 | Date: 05.09.2020 | Comments (0)

Bitcoin and ether can be used to pay taxes in the Swiss Canton of Zug starting next tax season. Zug’s crypto valley is home to many cryptocurrency businesses, and by accepting bitcoin and ether for tax payments, the canton aims to “promote and simplify the use of cryptocurrencies in everyday life.

Pay Taxes With Bitcoin

Switzerland’s Canton of Zug announced Thursday that it will start accepting cryptocurrency for tax payments. The Zug Department of Finance is collaborating with local company Bitcoin Suisse to offer tax settlement with cryptocurrencies, starting in the upcoming tax season which begins in February next year. The announcement details:

... Read more »
Category: News | Views: 121 | Added by: danyagames2007 | Date: 05.09.2020 | Comments (0)

Warren Buffett and Berkshire Hathaway cut their position on Wells Fargo as the bet on Barrick Gold and rising inflation fuel the bull case for Bitcoin as well.

Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares. The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).

Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.

Why did Buffett cut Wells Fargo and how could it benefit Bitcoin?

Throughout his career, Bu ... Read more »

Category: News | Views: 157 | Added by: danyagames2007 | Date: 05.09.2020 | Comments (0)

Gold and Bitcoin as safe havens may be about to outperform stocks, a Bloomberg strategist says.

Huge gains in stock markets despite the dire economic consequences of coronavirus may soon be a thing of the past, one analyst warns.

In a tweet on Sep. 4, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that gold may soon get the limelight as markets reach an “inflection point.”

Strategist: fiat markets may soon face day of reckoning

“In a battle of the bulls, we see greater potential endurance favoring #gold over the #Nasdaq,” he wrote.

“The conundrum of monetary and fiscal stimulu ... Read more »

Category: News | Views: 126 | Added by: danyagames2007 | Date: 04.09.2020 | Comments (0)

Whales are bidding $8,800 to purchase Bitcoin on major exchanges like Bitfinex following a sharp drop to sub-$10,000.

The price of Bitcoin (BTC) abruptly declined by 10% in a single day on Sep. 4. Following the dip, the sentiment around the cryptocurrency market has become noticeably cautious with the Cryptocurrency Fear & Greed Index flashing “fear” for the first time since July.

A massive Bitcoin buy order at $8,800 on Bitfinex. Source: Cole ... Read more »

Category: News | Views: 143 | Added by: danyagames2007 | Date: 04.09.2020 | Comments (0)

Limited supply and increasing demand are pushing Bitcoin into becoming digital gold.

In September’s crypto outlook newsletter, Bloomberg’s analyst Mike McGlone observed that the price of Bitcoin (BTC) could either be heading to the $500,000 mark, or it could fail. McGlone has continued to reiterate that in his view, Bitcoin is set to become digital gold. He emphasized once again how Bitcoin’s limited supply and increasing demand were key adoption indicators, and drew comparisons to the 2017 bull run:

“Much of the broad crypto-asset market echoes 2017's excesses, but the foundation is firming due to expanding decentralized exchanges (DEXs) and finance (DeFi). ... Read more »

Category: News | Views: 122 | Added by: danyagames2007 | Date: 04.09.2020 | Comments (0)

Bitcoin, gold, and the S&P 500 all sharply dropped today, causing traders to fear BTC is on the verge of a trend reversal.

The price of Bitcoin (BTC), the S&P 500 index, and gold all fell simultaneously on Sept. 3. The sentiment around the markets remains cautiously negative after the drop.

Two factors likely triggered the abrupt decline of Bitcoin by over 8% on the day. First, miners sold off unusually large amounts of BTC in a short period. Second, the U.S. dollar index has started to recover from a key multi-year support area.

... Read more »

Category: News | Views: 113 | Added by: danyagames2007 | Date: 04.09.2020 | Comments (0)

He then proceeded to beg crypto traders to switch to the stock market instead.

"I’m begging my crypto friends to get involved in the stock market," Portnoy, also known as Davey Day Trader, said in a Sept. 2 tweet. "Bitcoin is stuck in the mud," he explained, adding:

"Let me lead you. We will get back to crypto later. The time to strike is now! No time for weak hands! Make the move!"

Included in the tweet, Portnoy posted a scene from the movie "Captain America: The First Avenger" — the scene in which the main charact ... Read more »

Category: News | Views: 120 | Added by: danyagames2007 | Date: 04.09.2020 | Comments (0)