|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||0.00 - 0.00|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||8.35|
The Department of Justice and the Securities and Exchange Commission submitted filings Monday dismissing claims by defendant Maksim Zaslavskiy that securities law is too vague, according to Coindesk. Now, the alt-coin bear market is largely over, contends Thomas Lee, bitcoin bull and head of research.
Despite nearly market-wide volatility to open the week, shares of several notable cryptocurrency proxy stocks--including Longfin Corp. (LFIN), Riot Blockchain (RIOT), and the Bitcoin Investment Trust (GBTC)--were in the green on Monday morning.
Bitcoin and Cryptocurrencies in general rely on adoption and the hope of adoption for gains - there are a lot of factors suggesting the rate of adoption is slowing and Bitcoin has further to fall for now.
Key index funds turned mixed Thursday but the Dow Jones industrial average stayed positive thanks to McDonald's, UnitedHealth and IBM.
Making money off of cryptocurrency is so easy an 11-year-old can do it, but try telling that to the adults watching the price of bitcoin slide from its high of nearly $20,000 in December. Bitcoin is now trading at below $8,000—under the break-even cost of mining it at $8,038, an estimate developed by Fundstrat Global Advisors' data science team. It would be "pretty unusual" for bitcoin to break below that mark, wrote Thomas Lee, well-known bitcoin bull and Fundstrat's head of research.
Key stock index funds were lower in afternoon trade as Boeing and Johnson & Johnson weighed. Bitcoin and Bitcoin Investment Trust tumbled 9%.
Key market index funds were mixed as the Dow and S&P 500 pared early gains. Boeing weighed on the Dow, while Goldman and Apple rose.
Looking at the price of bitcoin now, around $9,200, up 0.66% since Sunday, they weren't wrong, but technical analysis shows that bitcoin was signaling "buy" starting early March. As long as the price of bitcoin stays above the $8,300 level, its trend will remain positive, wrote Zev Spiro of Orips Research. With prices now testing the higher end in the $9,200 level, the technical analyst expects to see a minimum of $17,252 and possibly a spike to $29,000 -- that's 45% higher than Fundstrat research head Thomas Lee's price target for $20,000 by the middle of the year.
The bad news bears are coming for bitcoin. The largest cryptoasset fell below the $9,000 level Friday as investors digested the implications of a major platform glitch, heavier regulatory scrutiny, and the potential liquidation of $1.7 billion worth of bitcoin by Mt. Gox, a now defunct exchange. Fundstrat's index for measuring investor sentiment is consequently signaling "misery." The Bitcoin Investment Trust (GBTC) is down about 5%.
Bitcoin and other cryptocurrencies fell, extending Wednesday's sharp losses on stepped-up regulatory action in the U.S. and Japan.
Bitcoin dived below the $10,000 mark after the SEC warned that some online platforms for trading cryptocurrencies and digital assets are potentially unlawful.
The Securities and Exchange Commission issued a statement on Wednesday warning investors of online trading platforms that purport to be “exchanges,” as defined by Federal securities law, but are not in fact regulated. The SEC staff has a list of concerns but this piece seems especially important: “Many of these platforms give the impression that they perform exchange-like functions by offering order books with updated bid and ask pricing and data about executions on the system…” There is no reason unless explicitly stated that these exchanges function like regulated exchanges like the NYSE or the Nasdaq. The SEC statement coincided with Coinbase’s launch of its so-called crypto index fund, which will hold all cryptoassets listed on the platform’s GDAX “exchange,” including bitcoin, bitcoin cash, ethereum, and litecoin.
The speculative asset class had consolidated its position Monday after soaring above the price point just before the weekend, but took a sharp dip in the early hours overnight.
Key market index funds were mixed in afternoon trading. The Dow turned positive amid big gains from Intel, Caterpillar and DowDuPont.
Bitcoin was holding steady above the $11,000 level Monday as the cryptocurrency consolidated its recent gains.
Overstock.com said Thursday that the Securities and Exchange Commission has opened an investigation into the company related to digital coins.
Financial tech company Square (SQ) now allows users of its Cash app to buy and sell bitcoin, a feature that is not particularly unique—it's essentially another bitcoin investment app. On a conference call after reporting earnings on Tuesday, Dorsey said he think Square's involvement with bitcoin is "not stopping at buying and selling." Dorsey said he thinks bitcoin offers "an opportunity to get more people access to the financial system.
Key stock index funds extended losses following cautious remarks from Fed Chairman Jerome Powell. But Apple and Intel were among the Dow's few gainers.
Richard Turnill, the global chief investment strategist at BlackRock, sees promise for bitcoin, which he thinks could gain "wider appeal" over time. Bitcoin was up 2.8% on Tuesday afternoon, at about $10,600. BlackRock, the world's largest money manager, owns iShares ETFs but has stayed out of the race to offer the first bitcoin ETF. CEO Larry Fink has called bitcoin an "index of money laundering.
Growth and income stocks rose. Aerospace and defense stocks are leading. A key Bitcoin fund is still early in its base work.
A key Dow ETF led Thursday as Caterpillar and United Technologies rallied. But Apple and other big-cap techs pared some of their gains.
The Japanese Zaif exchange said Tuesday that seven customers had been able to buy bitcoin with no yen value during a 20-minute window last week due to a system glitch.