The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar. For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually a better investment than gold? Let’s take a look at some of the conventional arguments investors cite when praising gold as an investment and why Bitcoin might be an even better long-term option. Value retention One of the most common reasons to buy both gold …

Between May 23 and 27, the equities markets had an impressive run, with the tech-heavy NASDAQ (NASDAQ: QQQ) ETF up over 7% and the S&P 500 (NYSE: SPY) up over 6.50%. However, this week' whipsaws in price action occurred throughout the week and while the J trade session is not yet over, the weekly candlesticks suggest a close near last week’s open. Currently, all major indexes face significant technical resistance levels above their present traded levels. Throw in thegrowing economic uncertainty and fears of a recession; the bounce may be limited. Cryptocurrencies down again The crypto market may close relatively …

Twenty-three agonizing days have passed since Bitcoin (BTC) last closed above $32,000 and the 10% rally that took place on May 29 and 30 is currently evaporating as BTC price retraces toward $30,000. The move back to $30,000 simply confirms the strong correlation to traditional assets and in the same period, the S&P 500 also retreated 0.6%. Weaker corporate profits could pressure the stock market due to rising inflation and the upcoming U.S. Federal Reserve interest rate hikes, according to Citi strategist Jamie Fahy. As reported by Yahoo! Finance, Citi’s research note to clients stated: “Essentially, despite concerns regarding recession, …

This week's Bitcoin (BTC) chart leaves little doubt that the symmetrical triangle pattern is breaking to the upside after constricting the price for nearly 20 days. However, derivatives metrics tell a completely different story because professional traders are unwilling to add leveraged positions and are overcharging for downside protection. Will BTC reverse course even as macroeconomic conditions crumble? Whether BTC turns the $30,000 to $31,000 level into support depends to some degree on how global markets perform. The last time U.S. stock markets faced a seven-week consecutive downtrend was over a decade ago. New home sales in the U.S. declined …

Axie Infinity (AXS) price dropped sharply on June 1, suggesting that its supersonic gains in the last two days might have been a part of a bear market rally. The AXS/USD pair soared 54% week-to-date to over $28 on May 31, its highest level in three weeks. But Axie Infinity price failed to hold the gains, correcting by more than 21% to $22 while raising the possibility of more downside to come. Trading behavior witnessed in the last 24 hours supported the downside outlook, with AXS/USD trading volume spiking during the selloff on May 31. AXS price bear trend Axie …

On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from the previous seven days and was driven mainly by Bitcoin's (BTC) 4.9% gain during that time frame. Apart from Bitcoin, Cardano (ADA) was the only large-cap cryptocurrency that managed to close the week with a positive 4.5% performance. Meanwhile, Ether (ETH), BNB, Ripple (XRP) and Solana (SOL) failed to present weekly gains. Bitcoin’s turn-around happened after the United States stock market presented gains for the first time after seven consecutive …

Bitcoin (BTC) is bouncing back this week as a sudden surge challenges weekly highs. In what should provide some desperately needed confidence to bulls, BTC/USD is back at weekly highs on May 30, gaining several percent overnight. In contrast to recent weekly closes, the May 29 candle managed to limit the downside and reverse course immediately as the new week began. Nonetheless, Bitcoin has now sealed nine red weekly candles in a row, something never seen before in its history. Just how bearish is the largest cryptocurrency going into June? The macroenvironment remains troubled, while retail interest is nowhere to …

This week the stock markets began to flash a little green, and Bitcoin (BTC) is decoupling from traditional markets — but not in a good way. The cryptocurrency is down 3%, while the Nasdaq Composite tech-heavy stock market index is up 3.1%. May 27 data from the United States Commerce Department shows that the personal savings rate fell to 4.4% in April to reach the lowest level since 2008, Meanwhile, crypto traders are worried that worsening global macroeconomic conditions could add to investors’ aversion to risky assets. For example, Invesco QQQ Trust, a $160 billion tech company-based U.S. exchange-traded fund …

Bitcoin (BTC) price has been unable to close above $32,000 for the past fifteen days and is currently down 37% year-to-date. Although that might seem excessive, it does not stand out among some of the largest U.S.-listed tech companies that have also sustained notable losses recently. In this same 15-day period, Shopify Inc. (SHOP) stock dropped 76%, Snap Inc. (SNAP) crashed 73%, Netflix (NFLX) is down 70% and Cloudflare (NET) presented a negative 62% performance. Cryptocurrency investors should be less concerned about the current "bear market" considering Bitcoin's 79% annualized volatility. However, that is clearly not the case, because Bitcoin's …

Crypto derivatives exchange and nonfungible token (NFT) platform FTX is reportedly in the market for brokerage start-ups as part of its recently announced plans to expand support to stock trading. The firm announced last Thursday that its United States-based subsidiary FTX.US will be launching zero-commission stock trading via its application, allowing users to fund their accounts with fiat-backed stablecoins. According to a Monday report from CNBC — who cited sources that “asked not to be named because the deal talks were confidential” — the firm has held private meetings with at least three brokerage startups over the past few months …

Bitcoin (BTC) has declined by more than 55% six months after it reached its record high of $69,000 in November 2021. The massive drop has left investors in a predicament about whether they should buy Bitcoin when it is cheaper (around $30,000) or wait for another market sell-off. The more you look at prior $BTC price history the more one can think it's not the bottom After 190 days from the all-time high, Bitcoin still had another 150 to 200 days until it hit bottom last couple of cycles (red box) If time is any indicator, could be another 6 …

Bitcoin (BTC) struggled to recover its latest losses on May 21 after Wall Street trading provided zero respite. BTC price reflects drab stocks performance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading dipping below $28,700 into the weekend, subsequently adding around $500. Down 4.7% from the previous day’s $30,700 highs, the pair looked firmly rangebound at the time of writing after United States stocks indexes saw a volatile final trading day of the week. The S&P 500, managing to reverse after initially falling at the open, nonetheless confirmed bear market tendencies, trading at 20% below its highs from …