The U.S. stock market continues to hit new all-time highs while gold, which acts as a safe haven asset has retreated from it's all-time highs. This suggests that there sentiment is to own risky assets. Meanwhile, Bitcoin (BTC), which at times behaves as an uncorrelated asset, remains stuck in a range. However, with the U.S. presidential elections approaching, the volatility in all the markets is likely to pick up. If President Donald Trump is re-elected, then there is unlikely to be a huge change in the current economic policies. If Joe Biden wins the election, then economists, traders and corporations …

Pornhub now accepts Bitcoin (BTC) and Litecoin (LTC) as payment for its premium services. The company has been accepting Verge since 2018, later adding several other cryptocurrencies, but this is its first foray into the major leagues. Pornhub’s vice president Corey Price said in the press release: “As a leader in adult content with over 130 million visitors per day, Pornhub is excited to now offer two widely-used and leading digital currencies for our users. Our team continues to pave the way for tech development, testing and implementing new technology for everyday consumers far ahead of the mainstream market.” Pornhub …

The U.S. stock market is on track to clock its best August performance since 1984. Meanwhile, Bitcoin (BTC) is attempting a positive close for the month after having declined consecutively in August 2018 and August 2019. However, gold futures and the U.S. dollar index (DXY) have not been in favor, as both could end the month in the red. Berkshire Hathaway disclosed a 5% stake each in five leading Japanese trading companies, and just a few days back, the company announced that it had a stake in a gold mining company. Daily cryptocurrency market performance. Source: Coin360 Max Keiser of …

In his speech on Aug. 27, U.S. Federal Reserve chairman Jerome Powell said that the central bank will allow inflation to stay above its 2% target level if the figure has been languishing below that level for a long time. Some analysts believe that this could mean no rate hikes for at least five years. In response to the speech, the U.S.dollar index (DXY) resumed its downtrend while gold is trading in the black. This shows that traders believe that the central bank’s change in strategy could debase the dollar further, hence, the demand for gold as a store of …

With Bitcoin dropping below the $12,000 level and pulling back to $11,400 in the last few days, altcoins also seem to have lost their momentum, even after their impressive gains since the start of 2020. However, some believe that “alt season” is alive and well and that cryptocurrencies still have room to grow, even after tokens like Chainlink and others have grown by more than 100%. The rising price of the dollar may have been the major reason for the recent drop in Bitcoin’s (BTC) price, with safe-haven assets such as gold having dropped as well. However, many believe that …

On Thursday, U.S. Federal Reserve chairman Jerome Powell is expected to deliver an important speech that will highlight a new strategy of targeting “average inflation.” This means that the Fed might allow inflation to overshoot the 2% target temporarily if it has spent a long time below that level. If the Fed adopts this new strategy, it could keep interest rates near zero for five years or more, according to a Bloomberg report. The abundant liquidity is likely to drive asset prices higher across the board and create bubbles that will eventually burst. If this occurs, investors are likely to …

The coronavirus pandemic has forced people to change several social behavioral habits. Along with maintaining social distance from one another, people are also averse to using notes, coins or cards as they might transmit COVID-19. A new report from the Bank for International Settlements suggested that social distancing procedures and the “government-to-person payment schemes” have accelerated the efforts towards launching central bank digital currencies (CBDCs). The paper shows that the public interest in CBDCs has exceeded that of Bitcoin (BTC) and Libra in 2020. However, the CBDCs will only be a digital version of the fiat currencies that will be …

Grayscale's LTCN asset, boasting publicly quoted over-the-counter shares, currently trades far above the price of Litecoin (LTC) — its underlying asset. At press time, Litecoin trades at $60.62, while LTCN shares trade at $54.01. The two prices seem close, although each share of LTCN equals just 0.094 LTC, according to Grayscale's website. Buying roughly 10.64 LTCN equates to ownership of 1 LTC. At current prices, however, buying 1 LTC worth of LTCN costs about $574 — over $500 more than the price of 1 LTC purchased on the crypto markets. Aug. 20 yielded an even higher premium, with each share …

Rich Dad Poor Dad author Robert Kiyosaki believes that Warren Buffet’s recent closure of his bank stock positions is a warning sign that the world might be starting a “major banking crisis.” Therefore, Kiyosaki suggests traders buy safe haven assets such as gold, silver and Bitcoin (BTC) to protect themselves from the downward spiraling value of the fiat currencies. Popular Bitcoin derivatives trader Tone Vays believes that Bitcoin could breakout to new all-time highs in 2021. He pointed out that historically, Bitcoin has tended to double in price after breaking out of its all-time high, especially if it took years …

Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin's price to stop doing what it's been doing for most of the past decade: appreciating.” However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and crypto assets. As U.S. markets surge to new highs, Bitcoin price has corrected sharply in the last two days but this is likely to be a short-term blip in a secular uptrend. Veteran investor Jim Rogers thinks that the U.S. stock market is in a …

Investors usually buy large quantities of gold when they do not have faith in fiat currencies and want to protect their purchasing power against debasement. Berkshire Hathaway’s recent purchase of Canadian gold miner Barrick Gold suggests that Warren Buffet is not confident about the future health of the United States and global economy. Morgan Creek Digital co-founder and partner Jason Williams believes that although Buffet might not directly invest in Bitcoin (BTC), it is likely that one of the younger managers will. Daily cryptocurrency market performance. Source: Coin360 With gold making a sharp move today, Bitcoin has also followed it …

Grayscale Investments, the asset manager behind the world’s largest Bitcoin trust, announced that its Bitcoin Cash Trust and Litecoin Trust are eligible for deposit at the Depository Trust Company, the largest securities depository in the world. The Depository Trust Company (often shortened to DTC) was founded in 1973 and is based in New York. It holds securities worth $54.2 trillion as of July 31, 2017. By clearing the bar to deposit here, Grayscale also happens to meet a requirement for being listed on major stock exchanges like the New York Stock Exchange and the Nasdaq. Grayscale announced on August 17 …