The White House and Senate leaders finally agreed to a massive stimulus of $2 trillion to support the economy and Americans who are suffering due to the COVID-19 pandemic. While the equity markets are celebrating with a rally, Binance CEO Changpeng Zhao has projected a bullish figure of $100,000 for each Bitcoin. Zhao believes that with most Bitcoin in the hand of long term holders, even if a small portion of the new stimulus flows into Bitcoin, a market capitalization of $2 trillion is achievable. Trader Tone Vays sounded increasingly bullish on Bitcoin. He said that if Bitcoin breaks above …

The world is in a state of panic due to the coronavirus pandemic. People are fighting over toilet paper, which shows the extent of nervousness. At such a time, even investors are likely to show irrational behaviors. The governments are attempting to calm the markets by supplying enough liquidity, which is likely to run into trillions of dollars. However, even after that, the world economy might slip into a global recession. The head of operations at Genesis Mining Philip Salter said that if the economic crisis does not deepen further, it “will not have major implications for Bitcoin.” However, if …

Even after the announcements of massive stimulus by the U.S. Federal Reserve, the ECB, and several other central banks, the equity markets are still struggling to launch a sharp recovery from the recent lows. This shows that traders are not confident that the equity markets have bottomed out and possibly investors are slowly losing hope that the central banks can rescue them from any crisis. Meanwhile, the cryptocurrency market is showing a sharp rally from the recent lows. The total crypto market capitalization has risen from the recent low of about $118 billion on March 13 to about $191 billion …

The world's biggest stablecoin has launched on the Bitcoin Cash network. Tether (USDT) has seen a surge of interest in recent weeks due to the global flight to safe havens and now has a market cap greater than $5.7 billion. More than $180 million was minted in recent days, preceding Bitcoin’s remarkable price spike in the past 24 hours. USDT will now be available on the Bitcoin Cash network. It is also available on Ethereum, Algorand, EOS, Liquid Network, Omni and Tron. Bitcoin Cash has its own generic token called the Simple Ledger Protocol, which is BCH’s version of the …

The unprecedented volatility in the equity markets continues as the traders are trying to assess the economic damage and the remedial measures that have been taken to support the economy. A growing number of developed nations have announced huge stimulus packages to soften the impact of the pandemic. However, billionaire investor Tim Draper believes that Bitcoin (BTC) will lead the recovery from the ongoing financial crisis by transforming the ways in which industries function. Tone Vays expects Bitcoin to bottom out closer to $2,800. If the level is hit before the upcoming May halving, Vays is fine with it, however, …

Japan’s crypto community has found a way for those seeking to avoid crowded places to still participate in meetups across the country. According to sources available to Cointelegraph, Bitcoin Cash (BCH) meetup groups in Osaka and Tokyo will be allowing members to virtually chime in at regularly scheduled events. Though Japan has less than 1000 reported cases of infection, companies and organizers in the country are starting to offer more suggestive language in announcements to curb the spread of the disease. Namely, that people should work from home, reduce time on public transit, and not attend large gatherings. The Tokyo …

The US Federal Reserve is at it again. For the second time this month, the Fed has done an emergency rate cut. On March 3, a 50 basis point cut was implemented and that was followed with a 100 bps cut on March 15. If that was not enough, the Fed also announced a $700 billion quantitative easing program. Surprisingly, in response to this, equities markets reacted by dropping over 11%. This shows that the markets are signaling to the Fed that rate cuts are not the solution for every problem at hand. After a few months when the coronavirus …

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. “The French court’s characterization of …

Capitulation occurs when traders are scared. On March 12, most asset classes witnessed a massive selloff with no place to hide. Even gold declined 3.17%, which shows that the traders sold everything in their portfolio. The coronavirus pandemic has created a state of panic because it does not have any treatment and spreads quickly. As a result, large cities and in some cases, the whole country is in a lockdown, in attempts to control it. That led to panic selling in cryptocurrencies on March 12, which had been comparatively holding up quite well until then. The market capitalization of the …

Governments and citizens across the world are in a state of panic as cases of coronavirus continue to rise. This has rocked global equity markets for the past few days and volatility has spiked to levels not seen since the last financial crisis. This shows that fear has gripped the traders and they are likely to sell everything at hand. Even gold sold off today. Compared to other assets that have been around for centuries, cryptocurrencies are a new asset class that has not witnessed any major crisis. Hence, the traders are unsure about their performance. Therefore, we do not …

Crude oil prices plunged about 30% on Monday to the lowest levels seen since Feb. 2016. This triggered a sell-off in global equity markets, which were already reeling under the pressure of a likely global slowdown due to the coronavirus outbreak. At its lowest level, the crude oil traders were nursing losses of about 55% year-to-date. Similarly, the US markets have plummeted about 15% year-to-date. Although Bitcoin (BTC) has dropped about 26% from its highs, it is still up about 7% year-to-date. This shows that it is outperforming both equity and oil markets. While it is difficult to pinpoint a …

Roughly 42% of the total Bitcoin supply has not moved in the past two years. This shows that the investors are holding on to their Bitcoin as they expect the price to rally further. Lesser quantity of Bitcoin in circulation increases scarcity and with the upcoming halving, the supply is only going to decrease further, which could boost prices. The creator of the stock-to-flow Bitcoin price model PlanB believes that “Bitcoin will probably go over $100k before Dec 2021.” While PlanB is banking on halving to boost prices, Max Keiser of The Keiser Report, expects the financial markets to tumble …