Author Archives: Sam Bourgi

Bitcoin Price Hits New Yearly Low; Now is Best Time to Buy, Says Weiss Ratings

Bitcoin was back on the defensive Friday, as prices sunk to new yearly lows following a minor consolidation earlier in the week. As Hacked recently reported, the bears are making a run at the psychologically significant $3,000 support and are likely to test that level in the near future. BTC/USD Update The bitcoin price is […]

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U.S. Stocks Drift amid China Trade Talks; $133 Million ICO Shuts Down Over Regulation

U.S. stocks traded mixed on Thursday, as investors carefully monitored ongoing trade negotiations with China following a string of positive developments in recent weeks. Basis, an up-and-coming stablecoin project, has confirmed it will close operations and refund investor accounts over regulatory bottlenecks with the Securities and Exchange Commission. Rally Loses Steam After a strong midweek […]

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Bitcoin SV Under Pressure Despite Growing Support Base

Bitcoin SV was the worst-performing cryptocurrency in the top-ten on Thursday. The coin that previously demonstrated inverse price action with the rest of its peers now finds itself struggling to regain momentum despite signs of early adoption across the market. BSV Update Over the last 24 hours, the BSV price has fallen an average of […]

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Bitcoin Price Holds Head Above Water as Bearish Pressure Subsides

Bitcoin has declined slightly in the last 24 hours, but price action suggests that a deeper fall can be avoided for the time being as the market resumes its rangebound consolidation. Although the outlook remains firmly tilted to the downside, stable price action for the rest of the week could generate added support for the […]

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U.S. Stocks Rise on China’s Evolving Industrial Blueprint; Cryptos See Modest Progress following Heavy Selling

U.S. stocks rebounded sharply on Wednesday as investors shifted from apprehension to optimism on China trade negotiations. Cryptocurrencies stemmed early-week volatility but failed to muster much of a rally as trade volumes dropped. Relief Rally Wall Street’s major indexes recovered sharply midweek, shifting the balance back in favor of the bulls for the time being. […]

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Crypto Markets Stabilize in Low-Volume Trading; Kraken Value at $4 Billion

Cryptocurrency prices stabilized on Wednesday, stemming early-week volatility that pushed the majors toward new yearly lows. Kraken, one of the largest U.S.-based exchanges, has reached out to traders about a potential private offering. No End to the Downtrend The cryptocurrency market capitalization recovered around $111 billion early Wednesday after coming within striking distance of new […]

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British Pound and Brexit Chaos: May’s Leadership Challenged

The British pound rebounded sharply on Wednesday, as conservative lawmakers prepared to hand Prime Minister Theresa May a vote of no confidence for her handling of Brexit. The embattled leader could be ousted from her position in a matter of weeks should the vote go as planned, complicating an already messy Brexit proceeding. Pound Plays […]

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Bitcoin Price Avoids Bigger Fall amid Market-Wide Consolidation

Bitcoin traded to the upside on Wednesday, snapping a multi-session losing streak that dragged prices toward new lows for the year. The outlook on BTC and other cryptocurrencies remains overwhelmingly bearish, which means investors can expect a re-test of last week’s lows relatively soon. BTC/USD Update The bitcoin price reached a high of $3,570.00 on […]

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U.S. Stocks Struggle for Direction as China Lowers Auto Tariffs; Cryptos Teeter on New Yearly Lows

U.S. stocks struggled for direction on Tuesday, as markets digested the latest round of trade talks between the United States and China. Cryptocurrencies were back on the defensive and dangerously close to setting new lows for the year. Stocks Sputter After swinging between gains and losses for much of the day, the S&P 500 Index […]

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Oil Prices Rise Anew Ahead of Saudi-Led Supply Cuts

Crude oil bounced back sharply on Tuesday after Saudi Arabia provided hard numbers on its planned output cuts in January, raising optimism that OPEC and its allies were pushing ahead with their plan to drain the market of excess supply. Crude Bounces Back The West Texas Intermediate (WTI) benchmark for U.S. crude futures climbed $1.24, […]

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Bitcoin Life Expectancy: Lindy Effect Suggests BTC Is More Difficult to Kill Than Ever Before

The crypto bear market is showing little signs of letting up. On Tuesday, a fresh wave of selling engulfed bitcoin and altcoins, dragging the market toward fresh yearly lows and thrusting Tether (USDT) in to the top-five by market cap. Against this backdrop, it’s easy to forget that cryptocurrencies like bitcoin have become so resilient […]

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U.S. Stocks Bounce Back and Brexit Brakes: Market Wrap

U.S. stocks overcame a volatile morning to finish higher on Monday, though trade-related risks remained in focus following the arrest of a high-ranking Chinese technology executive. The U.K.’s Brexit process stalled on the eve of a critical parliamentary vote after Prime Minister Theresa May’s cabinet warned of a major backlash in the House of Commons. […]

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Crypto Markets Turn Red Following Sunday Bounce; Bitmain Closes Israeli Operation

Cryptocurrency prices were back on the defensive Monday, with bitcoin and the major altcoins falling between 3% and 7% through the midday session. The latest bout of turbulence followed a modest relief rally on Sunday that once again proved to be short lived. Market Update The combined value of all coins in circulation reached a […]

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Oil Prices Dip Following OPEC-Russia Boost

Crude oil was back on the defensive Monday, as the OPEC-induced rally showed signs of fizzling amid apparent geopolitical and economic headwinds. In short: traders are still doubting whether the planned output cut announced on Friday will be enough to drain the supply glut in the face of waning economic growth and lower demand projections. […]

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Sunday’s Top Performers: DEX, aelf, EOS, MaidSafeCoin, Bytom

About a dozen cryptocurrencies reported double-digit gains on Sunday in the wake of another steep selloff that drove coin values to their lowest in over a year. The crypto market as a whole is down nearly $100 billion from month-ago levels, leaving little doubt as to the direction of the underlying trend. Below is a […]

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Bitcoin Leads Crypto Market Off Yearly Lows; Metcalfe’s Law Points to Six-Month Price Target of $10,000

The price of bitcoin rebounded on Sunday, helping to engineer a broader recovery in the cryptocurrency market following the latest bearish onslaught that drove values to 15-month lows. In all likelihood, the latest move higher is nothing more than a dead cat bounce as short-sellers appear keen on testing new lows in the near future. Long-term, however, […]

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Bitcoin’s Dead Cat Bounce Proves Limited as Price Struggles to Hold $3,400

Bitcoin’s overnight recovery proved limited on Saturday, as the leading digital currency struggled to maintain $3,400 in the wake of yet another 15-month low. BTC/USD Update At the time of writing, the major exchanges were quoting bitcoin’s price between $3,365-$3,385. The cryptocurrency fell within that range on Coinbase, Bitstamp, Bitrex and Gemini, among others. However, […]

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U.S. Stocks Round Out Miserable Week in the Red as Trade Fears Linger; Crypto Crash Intensifies

U.S. stocks extended their losing skid to three days on Friday, as the S&P 500 and Dow turned negative for the year amid trade-related tensions and concerns over global growth. Cryptocurrencies also booked heavy losses, with the total market losing half its value in less than a month. Crippling Losses All of Wall Street’s major […]

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SEC Delays Decision on VanEck SolidX Bitcoin ETF Until Next Year

The U.S. Securities and Exchange Commission (SEC) will delay its ruling on a highly-anticipated bitcoin exchange-traded fund (ETF) until next year, confirming earlier speculation on the matter. While the delay is by no means a confirmation that regulators are warming to the idea of a bitcoin ETF, it does suggest they are taking the matter […]

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Week in Review: Carnage Engulfs Cryptocurrencies and Stocks; Bitcoin Mining Difficulty Plunges 24%

From a risk-on perspective, the global financial markets took a beating this week. Digital assets like bitcoin, EOS and bitcoin cash plunged anew while equity prices slid back into the abyss following a strong end to November. Seasonal influences that normally accompany the holiday season have thus far eluded the market, leaving investors with a […]

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Stocks Fall as Arrest of Huawei Executive Stokes Fresh U.S.-China Confrontation

U.S. stocks fell anew Thursday after it came to light that a senior Chinese business executive was apprehended in Canada over possible U.S. sanctions violation, intensifying the trade impasse between Washington and Beijing. The United States last week became a net oil exporter for the first time in 75 years, highlighting the significance of the […]

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Oil Prices Drop Ahead of OPEC Production-Cut Figures

Oil prices faced a brisk selloff Thursday after investors caught wind of news that the Organization of the Petroleum Exporting Countries (OPEC) had agreed to reduce output by an unspecified amount. The Saudi-led cartel is reportedly waiting for Russia to come on board before declaring specific output levels for the new year. Crude Drops Both […]

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Cryptocurrency Market Comes Within $4 Billion of New Yearly Low

Cryptocurrency prices extended their slide on Thursday, as the total market cap came within striking distance of new yearly lows, signaling the continuation of the bottoming process. Market Update The total value of cryptocurrencies reached a low of $119.2 billion on Thursday, falling within a comparable range of last month’s swing low. The crypto market […]

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Bitcoin Price Remains Under Pressure Following Midweek Rollover; Dump and Consolidation Continues

The price of bitcoin saw little upside on Thursday, as the leading digital currency remained in limbo following a sharp drop during the previous session. High trading volumes suggest BTC is subject to another large move before the week is over. BTC/USD Update The bitcoin price breached the $3,700 floor on Thursday for the second […]

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Wall Street’s Misery Spreads to Global Stocks; U.S. Futures Recover Slightly in National Day of Mourning

A dramatic selloff of U.S. stocks on Tuesday has quickly spread to Asian and European markets, with global benchmarks reporting steep selloffs amid a self-imposed deadline by the United States and China to resolve their bitter trade dispute. The Nasdaq and New York Stock Exchange were closed on Wednesday as the nation mourned the death […]

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Palladium Tops Gold for the First Time in 16 Years

Palladium, gold’s lesser known sister metal, extended its rally to new record highs on Wednesday in a buying frenzy that has been fueled by a major shift in the automotive industry. Outshining Gold For the first time in 16 years, the price of palladium has topped gold. The shiny, silvery metal used in primary manufacturing […]

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Fidelity and Nasdaq Ventures are Backing a New Cryptocurrency Exchange

Fidelity Investments and Nasdaq Ventures have poured millions of dollars into an up-and-coming cryptocurrency exchange, a sign that institutional adoption of digital assets isn’t being deterred by the recent bear market. As Hacked reported last month, both companies are planning to make a big splash in the cryptocurrency market next year. ErisX Attracts the Big […]

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Bitcoin’s Recovery Lacks Momentum as Price Returns Below $4,000; New Trading Range Established

The price of bitcoin traded lower on Wednesday, putting an abrupt end to yesterday’s rally attempt and signaling continued pressure on the cryptocurrency market as a whole. At the time of writing, BTC/USD was back trading below the psychologically significant $4,000 level as the pump-and-consolidation cycled continued. BTC/USD Update Bitcoin reached a session low of […]

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U.S. Stocks Plunge Anew as Trade Fears Resurface; Dow Drops 800 Points

U.S. stocks fell hard on Tuesday, as investors began to doubt efforts by the United States and China to resolve their bitter trade dispute. Cryptocurrencies stabilized following back-to-back losses, with bitcoin clawing back toward the psychologically significant $4,000 mark. Wall Street’s Volatile Cycle Continues All three major U.S. benchmarks were hammered, as the volatile cycle […]

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Bitcoin Price Breaks Two-Day Slide; Mining Difficulty Plummets

Bitcoin’s price bounced back on Tuesday, regaining a crucial support level following a two-day slide that was driven by technical repositioning. The leading digital currency is caught in a cycle of dumps and consolidation, signaling continued uncertainty over the short term. BTC/USD Update The bitcoin price notched a session high of 4,075.90 on Bitfinex, recovering […]

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U.S. Stocks Bounce Back on Trade Optimism; Crypto Meltdown Resumes

Stocks rose sharply on Monday, buoyed by optimism that the U.S. and China were making progress toward a new free trade agreement. Cryptocurrencies headed in the opposite direction, undoing much of last week’s rally as bitcoin fell below $3,900 once again. Benchmarks Rise All of Wall Street’s major indexes opened firmly higher, with the Dow […]

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Crypto Downtrend Intensifies as Market Sheds $16 Billion from Last Week’s High

Cryptocurrency prices extended their slide mid-morning, as bitcoin plunged below $3,900 and the major altcoins fell between 4-10%. At the time of writing, the crypto market cap was $11 shy of a new yearly low, a sign that the bears were still very much in control. Crypto Markets Slump The crypto-market downtrend has accelerated in […]

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Oil Prices Surge on Trade Optimism; Qatar Exits OPEC to Focus on Natural Gas

Crude oil rose sharply on Monday, buoyed by a confluence of free-trade and production-related news following a high profile G20 summit over the weekend. The Start of a Resurgence? The West Texas Intermediate (WTI) benchmark for U.S. crude futures rose $2.11, or 4.1%, to $53.04 a barrel on the New York Mercantile Exchange. The January […]

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Bitcoin Price Slips Below $4,000 in Market-Wide Slump

Bitcoin’s price fell below $4,000 briefly on Monday, extending a 24-hour slump that has shaved more than $8 billion off the total cryptocurrency market cap. BTC/USD Update Bitcoin reached a low of $3,980 on Bitfinex, as bearish momentum continued to mount following a late-weekend reversal. At the time of writing, BTC/USD was down 2.8% at […]

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Bitcoin Dips Below $4,200 as Crypto Markets Run Into Familiar Resistance

Bitcoin and the broader cryptocurrency market ran into familiar resistance on Sunday, as the bulls failed to inspire new highs during the much lighter weekend trading cycle. Cryptoassets are coming off one of their worst months in history, opening the door to bargain hunters and long-term supports to boost their holdings. Market Update The cryptocurrency […]

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Bitcoin ETF Watch: VanEck, SolidX and CBOE Met With SEC on Monday

Backers of a highly-touted bitcoin exchange-traded fund (ETF) application met with U.S. regulators last week to present a new case for why their proposed product should be approved. The contents of the meeting, which were published on the Security and Exchange Commission’s (SEC) website Wednesday, gave new reasons why the regulator should approve a specific […]

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Bitcoin Begins December on Firm Footing Following Worst Monthly Performance Since 2011

Bitcoin’s price rebounded on Saturday, as the bulls looked set to reassert themselves following a rocky end to November. The leading digital currency fell by a whopping 37% last month, marking its worst 30-day performance since 2011. BTC/USD Update The bitcoin price reached a high of $4,335 on Bitfinex, having gained more than 7% during […]

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U.S. Stocks Rise into G20 Weekend; Crypto Rally Falls Short

U.S. stocks traded in positive territory on Friday, as the high-profile G20 summit got underway in Buenos Aires, Argentina. Cryptocurrencies lost momentum following back-to-back gains, as bitcoin and the major altcoins ran into technical resistance. Benchmarks Rise All of Wall Street’s major indexes saw positive results in the final session of the week. The large-cap […]

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Week in Review: Have We Reached Crypto Bottom?

The search for an elusive ‘crypto bottom’ may have finally come to an end this week. Between Sunday and Thursday, the combined market cap of all cryptocurrencies witnessed a peak-to-trough swing of $27 billion in favor of the bulls, with bitcoin and the major altcoins engineering double-digit rallies. The recovery engine lost steam on Friday, […]

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Bitcoin Price Buckles Under Corrective Pressure; $4,000 Support Holds

Bitcoin’s price gave back a big chunk of its weekly gains on Friday, as the market entered into technical correction following sharp rebounds earlier in the week. BTC/USD Update The bitcoin price swung below $4,000 briefly on Friday before recovering above the psychological threshold. At the time of writing, BTC/USD was trading hands at $4,054 […]

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U.S. Stocks Slide, Trump Cancels Putin Meeting and “Bitcoin” Searches Soar

U.S. stocks overcame a volatile start to finish only slightly lower on Thursday, as markets turned their attention to the upcoming G20 summit in Buenos Aires, Argentina. In cryptocurrency news, Google searches for the term “bitcoin” rose this week to the highest level in eight months, signaling renewed interest in digital assets among casual observers. […]

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VanEck Confirms Nasdaq Will Launch Bitcoin Futures 2.0 Next Year

It’s official: Nasdaq will begin offering bitcoin futures contracts in early 2019 as part of a wider effort to boost cryptocurrency adoption, according to VanEck, a leading fund manager. Nasdaq joins a growing list of major market players that are adding credence to the view that cryptocurrencies are here to stay. Bitcoin Futures 2.0 In […]

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Oil Briefly Falls Below $50 a Barrel Ahead of G20 Summit

Crude prices returned above $50 a barrel Thursday, shrugging off an earlier fall amid reports that Russia was willing to join OPEC in a new round of production cuts. Markets remain on edge ahead of the highly anticipated Group of 20 summit in Buenos Aires, Argentina where U.S. President Donald Trump will meet Chinese counterpart […]

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Bitcoin Price Approaches $4,500 as Recovery Deepens; Market Cap Rises $14 Billion

Bitcoin’s ambitious recovery broadened on Thursday, as prices came within striking distance of the psychologically significant $4,500 mark. Gains were widespread across the crypto markets, boosting convictions that the worst of the downturn had finally passed. BTC/USD Update The bitcoin price notched a session high of $4,488 on Bitfinex, having rebounded more than $1,000 from […]

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Dow Surges 600 Points on Fed Speak; Cryptocurrency Market Recovers $27 Billion

U.S. stocks surged on Wednesday, with the Dow adding more than 600 points after Federal Reserve Chairman Jerome Powell hinted at more gradual adjustments to monetary policy in the future. Cryptocurrency prices notched big gains, signaling to investors that the worst of the price collapse had ended. Stocks Make a Comeback All of Wall Street’s […]

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Oil Prices Resume Slide amid OPEC Uncertainty

Crude oil was back on the defensive Wednesday, as rising U.S. inventories and uncertainty about OPEC production cuts undermined a modest recovery effort earlier in the week. Crude Slips The West Texas Intermediate (WTI) benchmark for U.S. crude futures fell 79 cents, or 1.5%, to $50.77 a barrel on the New York Mercantile Exchange. Prices […]

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Goldman Sachs Executive: Cryptocurrency Selloff “Healthy” for the Ecosystem, Custody is the Key to Future Growth

Goldman Sachs Group Inc. has yet to venture into cryptocurrencies, but believes the future of the digital asset class is brighter now that rampant speculation has been weeded out of the market. Justin Schmidt, who heads the bank’s digital asset unit, says the market is healthier today as the focus shifts to institutional-grade service offerings. […]

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U.S. Stocks Edge Higher Despite Trump Tariff Warning; Crypto Top-Ten Experiences Shake Up

U.S. stocks pulled ahead on Tuesday, as investors shrugged off calls by President Trump for additional tariffs on Chinese goods. Cryptocurrencies faltered after a solid start to the week as bitcoin SV made its debut. Stocks Finish Higher Equities pulled ahead in the final hour of trading, with the S&P 500 Index registering gains of […]

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U.S. Dollar Hits Two-Week High as Trump Threatens Higher China Tariffs

The U.S. dollar notched two-week highs on Tuesday after President Donald Trump warned of higher import duties on Chinese products ahead of a key trade summit later this week. Dollar Gains, Gold Falls The U.S. dollar index (DXY) rose 0.3% to 97.38, its highest level since Nov. 12. DXY is also 0.3% shy of its […]

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After Much Speculation, Nasdaq Set to Launch Bitcoin Futures Market

Nasdaq Inc., the world’s second-largest stock exchange, is planning to launch its very own bitcoin futures product no later than Q1 2019. The announcement serves as a subtle reminder to investors that, despite the recent price collapse, institutional appetite in cryptocurrency is only growing. Nasdaq Joins the Futures Race According to Bloomberg, Nasdaq is currently […]

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Bitcoin Price Reverses Course Ahead of CME Futures Expiry

After a positive start to the week, bitcoin’s rally fizzled on Tuesday, as the bears reaffirmed their stranglehold on the market ahead of a key futures expiry on Friday. Although bitcoin futures have had a stabilizing effect on the market, price action tends o be volatile in the days leading up to a contract’s expiration. […]

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U.S. Stocks Rebound as Microsoft Briefly Surpasses Apple in Value; Bitcoin SV Cracks Top-Ten Market Cap

U.S. stocks rose on Monday, setting the stage for a large relief rally following last week’s brutal declines as shares of discretionary and technology companies outperformed the market. Meanwhile, cryptocurrencies came off their weekend lows as bitcoin SV cracked the top-ten market cap rankings. Stocks Recover Sharply The large-cap S&P 500 Index rose 1.6% to […]

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Commodities Will Surge in 2019, Goldman Sachs Predicts

2019 will be the year of commodities, according to Goldman Sachs. The Wall Street mega bank strongly believes that raw materials are due for a large comeback in the coming months given the huge disconnect between prices and fundamentals. Big Commodity Rebound Ahead Energy and primary metals are expected to rebound strongly in the coming […]

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Coins See Green: Cryptocurrency Market Cap Recovers $15 Billion as Bitcoin Cash, XRP Lead

The cryptocurrency market’s long road to recovery took a positive step forward on Monday, as coin values rebounded sharply from weekend lows with bitcoin cash, XRP and Litecoin leading the way higher. Market Update The combined value of all coins in circulation reached a high of $132 billion on Monday, according to CoinMarketCap. The total […]

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Bitcoin Price Rebounds from Lows but Short-Term Recovery Far From Guaranteed

Bitcoin’s price rose on Monday, possibly signaling the end of a multi-week downtrend and the start of a much-needed relief rally. However, the bulls aren’t out of the woods yet, and price action over the next 24-48 hours will determine whether the recovery attempt is merely a dead cat bounce. BTC/USD Update Over the past […]

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As Bitcoin Selloff Intensifies, Overstock CEO Doubles Down on Blockchain

Bitcoin’s month of pain intensified on Sunday, as prices briefly fell below $3,500 for the first time since September 2017. The panic sale hit the market at a time when Lightning Network is registering record capacity and institutional investors are lining up to trade physically-backed bitcoin futures at the beginning of next year. Amid the apparent […]

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Crypto Selloff Deepens as Bitcoin Cash Hard Fork Proves More Costly Than Ever Predicted

Cryptocurrencies plunged anew on Saturday, as the majors struggled to establish a firm price floor following consecutive price declines over the past two weeks. Despite a whopping 41% drop over that stretch, a lack of adoption means prices are still searching for a bottom. As it turns out, the bitcoin cash hard fork instigated on […]

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U.S. Stocks Fall as Oil Posts Worst Drop in Over Three Years

U.S. stocks traded lower on Friday, dragged down by slumping energy shares as oil prices posted their biggest single-day drop in over three years. Cryptocurrencies notched fresh 14-month lows as the search for an elusive bottom continued. Stocks Extend Losses All of Wall Street’s major indexes finished in negative territory, with the Dow and S&P […]

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Week in Review: Crypto Carnage Intensifies; Bitcoin Cash ABC Retains BCH Ticker Symbol

Cryptocurrency prices sold off anew this week, as bitcoin and the altcoin universe crashed to lows not seen since September 2017. The hash war over bitcoin cash continued despite an early lopsided victory for the ABC chain, which retained the BCH ticker symbol on major exchanges. Calvin Ayre, one of the biggest proponents of the […]

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Bitcoin’s Price Collapse: A Matter of Perspective

Bitcoin plunged anew on Friday, as prices threatened new bear market lows following two days of relative calm for the leading digital currency. As markets continue searching for a bottom, investors are reminded that the latest downturn is far from the worst bitcoin has experienced in its relatively short history. BTC/USD Update The bitcoin price […]

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U.S. Stock Futures Follow European Markets Lower on Thanksgiving; Crypto Rally Falls Short

U.S. stock futures declined on Thursday in concert with their European counterparts, as jittery investors steered clear of riskier assets ahead of high-profile trade talks next week between President Trump and Chinese counterpart Xi Jinping. Cryptocurrencies rallied overnight before losing their grip on gains as bitcoin cash continued to invoke fear, uncertainty and doubt. Stocks […]

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British Pound Rises Sharply as U.K. Inches Closer to Smooth Brexit Deal

Sterling rose sharply on Thursday after U.K. Prime Minister Theresa May said her government was moving closer to securing a smooth exit from the European Union. However, the so-called soft Brexit deal is expected to face hurdles in Parliament as May’s Conservatives lack a majority in the lower house. Brexit Draft Agreement The European Council […]

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Bitcoin Cash Resumes Defensive Posture as Calvin Ayre Backs Permanent Split

Bitcoin cash declined on Thursday, as the whirlwind surrounding last week’s contentious hard fork continued to influence market sentiment after the bitcoin ABC chain retained the BCH ticker symbol, setting the stage for a permanent split in the network. That notion was recently supported by Calvin Ayre, one of the leading protagonists of the competing […]

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Bitcoin Price Remains Under Pressure as Volatility Hits Six-Month High

Bitcoin’s price consolidated Thursday, as the bulls continued to face strong resistance from an upsurge of short positions placed in the futures market. The digital currency’s 30% drop since Nov. 13 has triggered the biggest rise in volatility since May, a discouraging sign for those eyeing a short-term bounce in prices. BTC/USD Update The bitcoin […]

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U.S. Stocks Rebound as Tech, Energy Stem Losses; Cryptocurrencies Search for Lifeline

U.S. stocks rose on Wednesday, clawing back from a devastating two-day collapse that pushed the major indexes in to negative territory for the year. Cryptocurrencies traded mostly lower over the 24-hour cycle as bitcoin cash and Stellar saw their market caps converge. Stocks Recover Two of three major indexes reported gains Wednesday, with the large-cap […]

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Oil Prices Recover from 13-Month Lows, but Oversupply Fears Keep Rally Subdued

Crude oil bounced back Wednesday from one of the worst selloffs of the year, though the extent of the rally was limited by persistent oversupply fears after President Trump thanked Saudi Arabia for helping to lower prices in recent weeks. Crude’s Tepid Recovery The West Texas Intermediate (WTI) benchmark for U.S. crude futures climbed 89 […]

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Bitcoin Cash Rebounds from Record Low as CoinMarketCap Integrate Bitcoin ABC Pricing Data

After testing new yearly lows, bitcoin cash staged a modest relief rally on Wednesday as several virtual currency exchanges re-enabled BCH trades for the first time since last week’s hard fork. However, the relief rally shouldn’t be construed as a shift in direction as BCH remains severely hampered by resistance and is likely to continue […]

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Stocks, Cryptos Resume Plunge; ICE Postpones Bakkt Launch Until January 2019

U.S. stocks resumed their selloff on Tuesday, as the tech blowout extended to other segments of the market, pushing the major indexes into negative territory for the year. Cryptocurrencies crashed to fresh 13-month lows, as bitcoin’s elusive search for a bottom continued. 2018 Gains Reversed All of Wall Street’s major indexes closed in negative territory, […]

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Oil Prices Sink to New 2018 Lows as Attention Shifts to OPEC

Crude oil was back on the defensive Tuesday, with U.S. futures prices plunging by as much as 6.2% on concerns of rising supplies and a cooling economy. A broad selloff in stocks and other risk-on assets also undercut commodity prices following a tepid recovery that stretched into Monday. Crude Prices Slump The West Texas Intermediate […]

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The $700 Billion Question

As losses in the crypto universe continue to mount, U.S. regulators are once again asking whether last year’s bull market was artificially inflated. According to Bloomberg, the federal probe is intensifying now that bitcoin’s price floor has been severely breached. Tangled Web As Hacked previously reported, federal prosecutors have uncovered a suspicious relationship between Bitfinex, […]

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Bitcoin Price Carves Out New Lows as Crypto Carnage Intensifies

Bitcoin’s price plunged anew on Tuesday, reaching the lowest in over 13 months and signaling no end to the downtrend that began early last week. BTC/USD Update The leading digital currency dropped below $4,300 on Coinbase for the first time since early October 2017. At the time of writing, bitcoin was trading at $4,380, down […]

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Tech Rollover Sinks U.S. Stocks; Bitcoin Falls Below $5,000 as Collapse Continues

U.S. stocks booked huge losses on Monday, as plunging tech shares and wavering risk sentiment dragged the major indexes lower. The crypto bloodbath reached epic proportions Monday, as bitcoin slid below $5,000 for the first time since October 2017. Stocks Lurch Lower All of Wall Street’s major indexes headed for sharp losses, with the S&P […]

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Ethereum’s Correction Hits 90% as Market Cap Falls Below $16 Billion

The rout of Ethereum intensified Monday, as the cryptocurrency fell further behind XRP in the market cap rankings, extending a brutal year-long correction that has raised serious questions over the protocol’s future. ETH/USD Update Ether’s price bottomed at $152.14 on Monday, its lowest since May 2017. The developer’s cryptocurrency is currently trading hands at $157, […]

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Crypto Market Cap Plummets $42 Billion Over Six Days as Bitcoin Targets $5,000

A staggering selloff in the cryptocurrency market over the past six days has investors searching for an elusive bottom on major assets like bitcoin, bitcoin cash and Ethereum. However, the breakdown of key technical levels, combined with the complete disregard for fundamentals, suggest the bottoming process has not yet concluded. Crypto Selloff Deepens The combined […]

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Bitcoin Price Crashes to New 2018 Lows as Selloff Resumes

Bitcoin and the broader cryptocurrency market slumped anew Monday, setting the stage for a prolonged downturn that could open the door to new support levels being breached. Market Update The bitcoin price crashed nearly 8% on Monday to reach a new yearly low of $5,180 on Coinbase. At the time of writing, the BTC/USD exchange […]

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Crypto Market Cap Turns Green as Signs of Tepid Recovery Emerge

With the exception of bitcoin cash (BCH), all major cryptocurrencies traded in positive territory on Sunday, offering mild optimism that the worst of the bear-market rout had passed. Coins with established use cases in traditional finance – XRP and Stellar Lumens – were clearly outperforming the market. Market Update The combined value of all cryptocurrencies […]

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Bitcoin Sees Biggest Volatility Spike of the Year; Should Long-Term Holders Be Worried?

Bitcoin’s precipitous drop over the past 48 hours has rendered the virtual currency highly susceptible to new bear-market lows. According to one indicator, the sudden and dramatic downshift disrupted a period of calm not seen  disrupted a period of calm not seen in over two years. Bitcoin Volatility Surges In the span of just 24 […]

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No Signs of Crypto Revival as Weekend Begins; XRP Overtakes Ethereum by a Wider Margin

Bitcoin and alternative cryptocurrencies remained under pressure Saturday following one of the worst drops of 2018, as the fallout from the bitcoin cash hard fork offered little reassurance that the market had moved past the divisive rhetoric. Market Update and XRP/Ethereum “Flippening” The combined market value of all cryptocurrencies averaged $183 billion on Saturday, according […]

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Market Update: U.S. Stocks Steady After Turbulent Week; Bitcoin ABC Leads Hash War

U.S stocks finished mostly higher in turbulent trading Friday, as the large-cap S&P 500 Index eked out its second consecutive advance on the back of utilities and energy companies. Cryptocurrencies appear to have stabilized following a $37 billion plunge, as the primary implementation of the bitcoin cash hard fork continued to edge out the competing […]

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Week in Review: Hard Fork, Hash Wars and Crypto Mayhem

A schism in the bitcoin cash community has unleashed chaos on the cryptocurrency market, threatening to undermine the resolve of long-term holders who may have forgotten what extreme volatility looks like following weeks, if not months, of unprecedented calm. The controversial split, which came into effect late Thursday, has resulted in all-out war between two […]

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Bitcoin Price Consolidates After Steep Loss as Market Cap Holds Below $100 Billion

Bitcoin’s market capitalization remains firmly capped below $100 billion on Friday, as prices struggled to regain momentum following a catastrophic selloff earlier in the week. Although bitcoin remains firmly in the grip of the bears, price action over the last 24 hours suggests the worst of the downshift had passed. BTC/USD Update The bitcoin price […]

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Market Update: U.S. Stocks Snap Five-Day Skid; Bitcoin Cash Splits Following Contentious Hard Fork

U.S. stocks wrestled their way back into positive territory on Thursday, as solid consumer spending data outshined a mixed earnings report from Walmart. Cryptocurrency prices remained under pressure as bitcoin cash split into two competing chains following a highly anticipated hard fork event. Stocks Snap Five-Day Skid All of Wall Street’s major indexes posted gains, […]

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Crypto Markets on Edge as Bitcoin Cash Hard Fork Underway

The cryptocurrency market appears to have stabilized following a fresh run-in with yearly lows, as investors turned their attention to a highly contentious hard fork involving bitcoin cash. Based on latest available information, the hard fork began at roughly 16:40 UTC, with the dominant chain yet to emerge. Market Update Cryptocurrencies saw their collective market […]

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Amid the Crypto Selloff, Ethereum and XRP Battle for Second Spot

A flash crash in the cryptocurrency market on Wednesday saw bitcoin’s total value fall below $100 billion for the first time since October 2017. It also left major altcoins Ethereum and XRP battling for second spot in the market cap rankings after the latter managed to hold up slightly better than its peers. Battle for […]

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