Analyst: S&P 500 and Bitcoin are macro correlated but that’s not a bad thingBTC $11,770 (+0.5%) • ETH $407 (+2.3%) • XRP $0.29 (+0.6%)
The recent narrative is that Bitcoin is now correlated with the price of gold. From a fundamental perspective, analysts say this makes sense; both BTC and the precious metal are extremely scarce assets that aren’t controlled by a central authority and can be ‘found’ by anyone with the right materials. A prominent cryptocurrency analyst, though, is certain that the real correlation that Bitcoin has is one with the S&P 500, the leading equities index in the U.S. Although this may be bad for the narrative that BTC is an uncorrelated asset, the analyst says that the existence of the correlation is actually a bullish trend for cryptocurrencies. 📈 Trending … DeFi Tokens • Oracle Tokens • Biggest Gainers • Stablecoins More news ⏬Coinbase CEO says Apple is too “restrictive” towards cryptocurrencies
Coinbase CEO Brian Armstrong said tech giant Apple has “restrictive” policies towards the cryptocurrency sector, as per a tweet this weekend. Thanks to our premium sponsors⭐️ CryptoAltum - CryptoAltum is a leading trading platform with a special leaning towards digital assets. Its mission is to make crypto trading easy and accessible to everyone. ⭐️ Paradox Group - Paradox is the Official Advertising Partners of CryptoSlate and specialises in Marketing and Blockchain Advertising. Google busts firm running a $1.2 million Bitcoin scam
Tech giant Google rescinded the license of a Philippines business running a scam involving Bitcoin and gift cards over the weekend, according to local reports. VC: Chainlink’s and Band’s 20% price jump bodes well for DeFi bull run
Like the rest of the crypto market, coins pertaining to the decentralized finance space have faced a strong pullback over the past few days. Bitcoin market “looks like 2016,” says crypto fund Grayscale
The Bitcoin bull run in 2020 has sent ripples (no puns) across the crypto space with market observers calling for the asset to eventually reach all-time highs later this year. Uniswap traders have spent nearly $7 million in Ethereum fees
Ethereum DeFi fanatics on Uniswap, a decentralized exchange, have paid nearly $7 million in fees in the past month, as per data on Gas tracking site ETH Gas Station. 2017’s forgotten altcoins ZRX, OMG, and BAT are booming on a DeFi promise
Some much-hyped altcoins from 2017 are seeing a surge in prices as the DeFi market picks up steam and becomes a formidable sector in the broader crypto space. Here’s why Dave Portnoy is already selling his Bitcoin, Chainlink, and Orchid
On August 13, Barstool Sports’ founder Dave Portnoy finally dived into Bitcoin and crypto after playing with the idea for a number of weeks. Why VC heavyweights are throwing their weight behind Ethereum’s Aave (LEND)
The Ethereum decentralized finance space has been rife with innovation over recent months as developers attempt to attract the largest number of users and value of crypto assets. As Bitcoin drifts lower, these crucial factors suggest bulls are still in control
Bitcoin is showing some signs of weakness today as its price drifts down towards its crucial short-term support level at $11,600. Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
If you liked this post from CryptoSlate, why not share it? © 2020 Zenzio Incorporated Unsubscribe
|
