Central banks around the world have pumped up their economies with huge stimulus measures. JPMorgan Chase’s chairman and CEO, Jamie Dimon, praised the United States for taking swift action to counter the current economic crisis. Despite the kind words, in a letter to JPMorgan shareholders, Dimon warned that the future “will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008.” Ballet CEO and founder Bobby Lee expects Bitcoin to reach $10,000 by its block reward halving next month. Lee expects the governments to continue to print huge sums of money …

During a crisis, the first thing panic-stricken investors do is to sell almost every asset class they perceive is likely to go down. However, after the panic settles down, the bottom fishers step in and start buying the assets that show value. We have seen both of these phases play out for cryptocurrencies. The sharp selloff on March 12 was a good example of panic and the sharp correction was quickly followed by a phase of cherry-picking by long-term investors. Since bottoming out on March 13, most major cryptocurrencies have rebounded and continue to press higher. After the selling ends, …

On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past two weeks the number of laid off American workers seeking unemployment benefits has reached 10 million. If the numbers continue to grow, the government and Federal Reserve is likely to announce another round of stimulus measures. All the money printing is likely to erode the value of the US dollar. In such a case, the investors will search for assets that can protect their buying power and add …

The Dow Jones Industrial Average had its worst first quarter on record. Compared to that, Bitcoin only fell about 10% over the same period, which shows clear outperformance. The resilience of Bitcoin (BTC) in the current crisis shows that it has arrived on the big scene and that it can weather a storm better than some of the traditional asset classes. This is likely to attract several institutional players to Bitcoin. Now, what can we hope for during the second quarter? Bitcoin has a very important halving event coming up next month. This has been positive for the price action …

BitMEX Research recently pointed out that the correlation between the S&P 500 and Bitcoin (BTC) has reached a new high, eclipsing the previous high recorded in March 2018. This shows that with all the money being printed to support the economy, a tiny bit might be finding its way into the crypto space, which is a huge positive. Over the long-term, only a fraction of the total stimulus packages announced around the world are enough to boost the crypto market capitalization. While many are bullish in the long-term, several investors want to catch the bottom. Earlier in the year veteran …

Major altcoins have seen their Twitter presence greatly reduced in the wake of the recent cryptocurrency market crash. According to data from Bitinfocharts, major altcoins such as Ethereum, Litecoin, and XRP now find their Twitter mentions nearing two and even three-year lows. Meanwhile, Bitcoin’s Twitter presence doubled in the first three months of 2020, though its tweet count remains a long way off of its 2017 all-time high. XRP tweets hit 21 month low Earlier this week, on March 21st, tweets bearing the hashtag #XRP numbered 2,542. That’s a 60% drop since January 2020 alone, when XRP tweets ranged between …

The coronavirus pandemic and the economic crisis that it has brought along is the first of its kind in this generation. For weeks now, global equities markets have been swinging wildly due to the uncertainty. However, compared to the traditional markets, Bitcoin has been holding up quite well and its volatility has been gradually reducing in the past few days. Pantera Capital Founder and CEO Dan Morehead believes that the current crisis “is like no other” and it can “have a larger global economic impact than any downturn in recent memory.” However, Morehead believes that after the initial days of …

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 …

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 …

Whether crypto markets are up or down, people will still buy beer. The American beer industry has seen a 600% increase in the number of breweries between 2008 and 2016, according to data from The Atlantic. And the crypto industry really boomed from nothing in 2008 with the release of pseudonymous author Satoshi Nakamoto’s Bitcoin white paper. By 2017, thousands of new digital assets built on top of that work had found their way onto exchanges. Nowadays cryptocurrency lives somewhere in the public consciousness between a Bloomberg headline and a subculture. Cryptocurrency remains less than 100% accessible to the general …

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, …

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 …