The last week of February saw a blood bath across various asset classes on fears that the coronavirus outbreak is turning into a pandemic. This led investors to dump their positions in the equity markets, which wiped off about $3.8 trillion of value in U.S. stocks. Gold, which has acted as a traditional safe haven was not spared. The yellow metal plunged about 4.6% on Feb. 28, which took the weekly loss to about 5% for the week. This shows that the investors did not differentiate between asset classes and sold everything in a state of panic. Bitcoin (BTC) and …

Bitcoin dropped below the psychologically important level of $10,000 on Feb. 15. This has dragged the crypto markets lower, whose market capitalization has dropped below $300 billion. Though Bitcoin has declined, its market dominance has risen from below 61% on Feb. 15 to 62.5%. This shows that altcoins have fallen more than Bitcoin. Serial venture capitalist Mike Novogratz believes that Bitcoin is likely to rise to its lifetime highs in 2020. He said that Bitcoin was the “best new brand of the past eleven years” and had found its lane as a store of value. Novogratz felt that Bitcoin was …

Although sentiment drives prices in the short-term, fundamentals play a major role in determining long-term price action. However, many times, the price follows fundamentals higher with a lag. The crypto markets have an uncanny ability to surprise analysts by moving opposite to the general perception. As the year draws to an end, the focus will shift to the events of the next year. Bitcoin’s halving, the United States Presidential election and the United Kingdom’s Brexit, are just a few of the events that might influence crypto prices. Crypto market data weekly view. Source: Coin360 It is difficult to predict the …

The crypto space is taking a breather after the recent sharp run. However, Binance CEO Changpeng Zhao (CZ) recently tweeted that he is positive that Bitcoin (BTC) will resume its rally to $16,000 “soon-ish.” This suggests that CZ believes the market has bottomed and is in the process of resuming the uptrend. Furthermore, the long-term price action of Bitcoin shows that it has outperformed the S&P 500 since 2003. In other crypto-related news, French high school students will now be taught the basics of Bitcoin and its effects on the French and global economy. This suggests that the government is …

The United States Securities and Exchange Commission (SEC) has been in the thick of the action over the past week. First, the SEC rejected the Bitcoin ETF application from Bitwise Asset Management and NYSE Arca. Next, the governing body obtained a temporary restraining order against Telegram and its wholly-owned subsidiary Telegram Open Network (TON) for hosting a securities sale which would culminate with the distribution of Gram (GRM) tokens within the U.S. The SEC claims that the ICO was illegal as Telegram did not register the offering. While both news events are overwhelmingly negative, the crypto markets have held their …