Tag: investors

  • Can Bitcoin (BTC) sustain its rally? Investors bet big on Rebel Satoshi (RBLZ) DEX launch

    Can Bitcoin (BTC) sustain its rally? Investors bet big on Rebel Satoshi (RBLZ) DEX launch

    • Analysts predict that Bitcoin (BTC) will continue trading above $50,000. 
    • Rebel Satoshi ($RBLZ) to launch on DEXes after concluding its presale.
    • Investors are optimistic of $RBLZ performance after listing.

    Even as the best altcoins continue to suffer, the Bitcoin (BTC) price has rallied past $51k. Meanwhile, Rebel Satoshi ($RBLZ) has risen continually during its presale as investors anticipate further gains upon its upcoming DEX launch. Let’s understand whether BTC can sustain its rally and why experts consider $RBLZ the best crypto to buy right now. 

    Bitcoin soars past $51K as ETFs AUM surpass $10B

    The rally in the Bitcoin (BTC) price after the approval of Spot ETF was short-lived. After that, the Bitcoin (BTC) price and the entire market had been caught up in volatility. By January 23, the Bitcoin (BTC) price fell to a low of $38,740. However, as the market recovered, the Bitcoin (BTC) price has also risen. 

    On February 15, the Bitcoin (BTC) price was up by 35.1% to trade at $52,345. This surge in the Bitcoin (BTC) price was powered by the growth in the Spot ETFs. As of January 12, the ETFs had accumulated over $10 billion in Assets Under Management (AUM). This rally in the Bitcoin price has occurred despite Grayscale transferring 2,044 BTC to Coinbase Prime. 

    As the fears of a sell-off by Grayscale have failed to stop the Bitcoin (BTC) price from rising, experts are bullish. They predict that the Bitcoin (BTC) price will continue to trade above $50,000 in the coming weeks. 

    Investors foresee gains as the $RBLZ DEX launch approaches

    The innovative meme coin project, Rebel Satoshi, is designed on the principles of Guy Fawkes and Satoshi Nakamoto. Rebel Satoshi aims to bring forth a revolution in the market and usher in true decentralization. The Rebel Satoshi rebellion is led by its Recusant community members. 

    The Rebel Satoshi project revolves around its governance and membership token, $RBLZ, adhering to the ERC-20 standard. Rebel Satoshi has made the $RBLZ contract public, which has been audited by SourceHat. Rebel Satoshi is targeting a $100 million market cap for the $RBLZ token and has fixed its total supply at 250 million. 

    Rebel Satoshi has been conducting the presale of the $RBLZ token in multiple rounds. Right now, the last round, the Recusants Round 5, is underway at $0.024 per $RBLZ. Once the presale ends, the $RBLZ token will rise to $0.025 per token. At this price, Rebel Satoshi will list the $RBLZ token on DEXs sometime after February 29, which is when the presale will end. 

    Moreover, Rebel Satoshi is in the advanced stages of getting the $RBLZ token listed on tier-1 CEX as well. The DEX and CEX listing would result in the $RBLZ token experiencing a massive rally. As a result, the $RBLZ token is considered one of the best altcoins to buy right now. 

    For the latest updates and more information, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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  • 84% of investors predict Bitcoin will hit a new ATH

    84% of investors predict Bitcoin will hit a new ATH

    • Bitget’s report reveals that 84% of survey participants predict Bitcoin (BTC) will hit a new all-time high in 2024.
    • About 70% say they have plans to add to their crypto investments as they eye the next bull run.

    Bitget, one of the crypto exchanges to see remarkable growth in 2023, has released findings of a new study on Bitcoin’s upcoming halving, which shows an overwhelming majority of investors are bullish on the flagship cryptocurrency post-halving. 

    Nearly three quarters say the potential for Bitcoin price to skyrocket to a new high weighs on their plans to add to their investments in 2024.

    The crypto exchange shared the findings of the survey in a report published today, Thursday, February 1.

    Bitget’s study – an overview

    An analysis of anonymized data that focused on investors’ perceptions around Bitcoin’s upcoming halving and how this impacted their investment decisions showed that the market is largely bullish on BTC.

    Here’s a highlight:

    • 84% of survey participants the next bull run will see Bitcoin price surpass its previous all-time high of $69,000. Only Europe had a percentage lower than 80% among all regions.
    • Over 50% of all respondents predict BTC will be between $30k and $60k by halving (expected around April 2024. 30% of participants think it could be higher than $60k.
    • About 70% of respondents said they have plans to add to their crypto investments. Highest conviction was expressed across MENA and East Europe.
    • Western European investors are largely “short-term cautious” and “long-term optimistic”.

    2024 could be significant for Bitcoin, Bitget’s Gracy Chen says

    According to Bitget, a diverse global demographic group of investors participated in the study. In total, 9,748 individuals drawn from across West Europe, East Europe, South East Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-halving and post-halving.

    Other than the above highlights, the report also shows 55% of participants see Bitcoin price in the $50k-$100k post halving in 2024. A smaller percentage predicts a run to above $150k. More people in West Europe, 51%, expressed this expectation.

    Commenting on the findings, Bitget Managing Director Gracy Chen said: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.

    Bitcoin traded at $42,700 on February 1, 2024, up 6.9% in the past week. Following declines in January, the benchmark cryptocurrency was 5.8% down in the past month. 

    However, analysts at Standard Chartered Bank are among those to point to a bullish run for the digital asset, which reached highs of $49k amid the spot Bitcoin ETF euphoria. Analysts at the bank predicted last year that BTC could rally to highs of $120k by end of 2024.

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  • As Litecoin loses steam, Rebel Satoshi gains momentum with investors

    As Litecoin loses steam, Rebel Satoshi gains momentum with investors

    • Litecoin (LTC) dips despite achieving a milestone on BitPay. 
    • Rebel Satoshi (RBLZ) leads the top ICO list in its presale. 
    • $RBLZ announces launch timeline after raising $2 million. 

    Litcoin (LTC) has failed to make a comeback in recent weeks, leaving the field open for other altcoins. Rebel Satoshi (RBLZ) is a new meme coin that is attracting Litecoin investors with 150% potential gains. 

    Let’s review the latest news about LTC and $RBLZ to find the best crypto to invest in!

    LTC dips by 6.6% despite achieving a milestone on Bitpay

    On December 30, 2023, the Litecoin Foundation shared on Twitter (now X) that LTC exceeded all other altcoins on BitPay last month. Litecoin was the number 1 choice for crypto payments on the world’s largest crypto payment processor. 

    The Litecoin community welcomed the news, hoping it would help LTC improve in value. But despite the good news, LTC, the native token from Litecoin, continued its dip. The LTC price decreased by 6.6% in ten days from $72.64 to $67.84. So, is LTC still the best crypto to buy?

    Although LTC is currently in a dip, Litecoin price prediction suggests that things can get better by the end of 2024. If the market turns bullish, LTC will reach the maximum predicted price of $111.55 in 2024.

    However, if bearish trends affect the market, Litecoin won’t get the predicted increase of 52.9% in its value. In the case of a bearish scenario, Litecoin will be trading at $89.58 per LTC by the end of 2024. 

    $RBLZ becomes investor favourite after raising $2M

    Meme coins are abundant in the crypto market. However, not all of these meme coins are worth investing in. But Rebel Satoshi, a new meme coin inspired by Satoshi Nakamoto and Guy Fawkes, has caught the eyes of investors while still in its presale. 

    Rebel Satoshi is a meme coin with a mission. It plans to herald a new era of decentralization with its native token, $RBLZ. Rebel Satoshi also aims to develop a community for the underdogs so they can challenge centralized systems together. 

    $RBLZ, the native token from Rebel Satoshi, has broken records in its ongoing presale. Rounds 1 and 2 of the $RBLZ presale were sold out in ten and 15 days, respectively. Currently, the $RBLZ presale is in the Citizens Round 3 stage, where each token is available at $0.025. Only 25 million $RBLZ tokens are available in the current stage. 

    Those who invested in $RBLZ early on can expect a 150% return on investment when Rebel Satoshi officially launches. $RBLZ is expected to start trading at $0.025 once it launches on DEX. 

    As February 2024 has been picked as the launch month, there’s not much time left to benefit from the presale. So, you can use Bitcoin and 50 top altcoins to join the Rebel Satoshi presale today. 

    Investing in $RBLZ will bring all sorts of exclusive benefits as well as the chance to contribute to the Rebel Satoshi ecosystem. So, act fast if you don’t want to miss out on the Rebel Satoshi hype train. 

    For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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  • Pullix (PLX) price outlook as investors savour bullish market

    Pullix (PLX) price outlook as investors savour bullish market

    • Pullix (PLX) presale price has increased to $0.08 in stage 6.
    • Meanwhile, the broader crypto market outlook is bullish amid anticipated Bitcoin ETF approval.
    • As Bitcoin looks to break higher, analysts say altcoins could follow.

    With investors in an extremely bullish mood, top altcoins led by Ethereum are looking to strengthen their latest upside momentum. 

    Pullix, whose presale has surpassed the $3.2 million mark as investors take an early position, is also poised as it eyes its market debut.

    Altcoins surge as BTC price retests $47k level

    Bitcoin’s price saw a remarkable move on Monday as it soared more than 5% to break to the $47,000 level. The upside came as the crypto market increasingly became convinced the US Securities and Exchange Commission (SEC) is set to approve the US market’s first spot Bitcoin ETF.

    This latest bullish flip coincided with the SEC Chair Gary Gensler’s comment on the potential risks of investing in crypto.

    The broader reaction saw BTC pull altcoins higher, with Ethereum boosted to above $2,300, BNB above $310 and Solana swinging past the psychological $100 level.

    While prices have seen a correction in the past 24 hours, with BTC back to $46,500 and ETH to $2,300 levels, crypto analyst Michael van de Poppe says ETF sentiment remains the main catalyst this week. He expects Bitcoin to hit prices in the $48k to $51k range on approval, while altcoins could see a late flourish. He also says dips are for buying.

    Pullix presale heats up amid bullish market

    The drive behind Pullix (PLX) token sale is its technology and what it could mean for the crypto trading industry, and DeFi in particular, in 2024 and beyond.

    Set to mark its entry in the market after its presale, Pullix will offer a hybrid exchange platform designed to offer the best of both centralised and decentralised exchanges. Importantly, given the recent hiccups around exchanges such as FTX and Binance, Pullix promises a non-custodial exchange where users remain in complete control of their assets.

    Investors eyeing the potential impact of Pullix in the ecosystem see its presale as a perfect phase to make an entry. That and the expected bull run mean buying PLX today could be a smart move. Pullix has so far raised $3.2 million in its PLX token sale.

    PLX price prediction

    Currently, PLX is priced at $0.08 in stage 6 of the presale. The PLX price at the start of the presale was $0.04, which means first stage buyers are looking at a potential 100% upside were the token to launch in the market today. Fortunately, the presale is ongoing, with a small amount of the 60% of total supply available for presale still up for grabs.

    When the presale phase ends, Pullix will go live on trading platforms. Apart from its fundamental strengths, momentum seen across the market could be key to catapulting PLX higher. 

    If you are looking to invest in this token, add your own due diligence. You can visit the Pullix website for more details about its hybrid exchange and tokenomics.



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  • Amidst Stagnant Price Movements for Dogecoin and PEPE, Investors Pivot to Rebel Satoshi for Greater Returns

    Amidst Stagnant Price Movements for Dogecoin and PEPE, Investors Pivot to Rebel Satoshi for Greater Returns

    TLDR

    • Rebel Satoshi ($RBLZ) claims the top position among new ICOs, opening the door to a potential 150% profit.

    • Market experts predict that PEPE will rise to $0.0000040.

    • Increased activity in the Dogecoin ecosystem could push DOGE to $0.205 in January 2024.

    Pepe coin has experienced a downtrend in recent days despite being in Crypto Dep’s top ten list of projects with the highest social activity. However, Dogecoin may be on the rise following the growing positivity on the network. Meanwhile, investors are leaving Pepe and Dogecoin and turning towards Rebel Satoshi because of its impressive features and offers. 

    Let’s explore all the details from these top DeFi projects. 

    Experts Expect Community Involvement to Push PEPE Value Upwards

    On December 8, Crypto Dep unveiled a list of the top ten cryptocurrencies by their social activity, and Pepe coin was in the top three. This development has caused a buzz in the Pepe coin community. However, the price of PEPE has not been affected positively.

    As of December 8, the value of PEPE was $0.0000016, but it dropped to $0.0000014 on December 12, signifying a 12.50% dip. Meanwhile, market experts are positive that Pepe will increase in the coming months due to its innovative features and recent partnerships. Thus, they predict that PEPE will reach $0.0000040 by the first quarter of 2024.

    Conversely, other analysts are pessimistic about investing in PEPE because of the recent PEPE market trend. Due to this, they predict that PEPE could dip to $0.0000011 before December 20.

    Dogecoin Price Prediction: Latest Update Could Spur DOGE’s Rise

    In a report dated December 2, Dogecoin demonstrated favorable price dynamics, driven by increased investor interest. On-chain data indicated buy orders totaling 883 million DOGE, with an average price of $0.840. The positive performance has sparked enthusiasm among bulls, fostering a desire to accumulate DOGE.

    On December 2, the value of DOGE was $0.086, but it increased to $0.094 on December 12, signifying a 9.30% rise. Meanwhile, market experts have forecasted a rise for Dogecoin due to its increased community activity. Due to this, they have predicted that DOGE could pump to $0.205 by January 2024.

    On the flip side, some market analysts are pessimistic about investing in Dogecoin because of recent discord among the Dogecoin team. Thus, they predict that DOGE could dip to $0.080 by the end of December.

    Rebel Satoshi Becomes The Top ICO, Paving the Way for a Potential 38% Profit

    Inspired by pioneers like Satoshi Nakamoto, Rebel Satoshi embodies a spirit of defiance against centralized financial systems, advocating for decentralization to promote a more equitable wealth distribution.

    While driven by a serious mission, unlike Pepe and Dogecoin, Rebel Satoshi takes a lighthearted approach as a meme coin, engaging users with interactive quests and meme culture. Community members gain recognition in the Rebel Meme Hall of Fame, a platform for sharing rebel-themed memes and fostering humor within the community.

    Financially, users can secure substantial staking returns by locking up their $RBLZ tokens, contributing to the platform’s goal of reaching a $100 million market cap. The $RBLZ presale commenced with the Early Bird Round, selling 25 million tokens in three weeks at $0.010. Subsequently, the price of $RBLZ surged by 30%, reaching $0.013 in Rebels Round 1, completed within ten days.

    Currently, Rebel Satoshi is 75% into Warriors Round 2 of its presale at $0.018, having raised $500,000. Analysts project that $RBLZ is expected to reach $0.025 by the presale’s conclusion. This suggests that early Rebel Satoshi investors could potentially enjoy a 150% return when $RBLZ officially launches.

    Notably, Rebel Satoshi has successfully sold over 55 million $RBLZ tokens, and the escalating demand is expediting the $RBLZ listing date. Additionally, Rebel Satoshi simplifies the investment process by accepting Bitcoin and various altcoins, offering a convenient entry for all participants in the $RBLZ presale.

    For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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  • First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    • First Trust files for Bitcoin Buffer ETF with SEC, aiming to mitigate risk via options.
    • Buffer ETFs gaining momentum, 139 trading on US markets, $32.54B AUM.
    • Buffer ETFs don’t guarantee complete protection, or assess risks.

    Financial services firm First Trust has recently submitted a filing with the US Securities and Exchange Commission (SEC) to launch a groundbreaking investment product – the First Trust Bitcoin Buffer ETF.

    Unlike traditional spot Bitcoin ETFs, this innovative fund aims to provide investors with a unique risk mitigation strategy, utilizing options to safeguard against potential market downturns. Let’s delve into the details of this latest development in the cryptocurrency investment space.

    First Trust’s Bitcoin Buffer ETF filing

    First Trust’s move to file for the Bitcoin Buffer ETF signals a shift in the cryptocurrency investment landscape. This ETF is distinct from spot Bitcoin offerings, as it utilizes options to pursue a defined investment outcome. Acting as a buffer, it imposes a limit on potential losses during market drops.

    First Trust’s ETF is structured to participate in the positive price returns of the Grayscale Bitcoin Trust or other Bitcoin-related exchange-traded products (ETPs), providing investors with a unique approach to risk management.

    Rise of Buffer ETFs in the market

    Buffer ETFs have been gaining traction globally, with 139 such funds currently trading on U.S. markets, amassing a total asset under management of $32.54 billion.

    BlackRock, a major player in the ETF space, introduced its iShares buffer ETFs earlier this year. These funds offer investors a specified level of downside protection while capping potential upside gains. Analysts anticipate more entrants in this space with diverse strategies, contributing to the growing trend of innovative investment products aimed at addressing market uncertainties.

    While the concept of buffer ETFs provides a novel approach to risk management, investors must understand that these funds do not guarantee complete protection.

    First Trust’s filing emphasizes potential risks, including the risk of losing some or all invested capital. Investors should carefully evaluate the suitability of buffer ETFs for their portfolios, recognizing that these products may not be suitable for everyone, and success in providing downside protection is not guaranteed.

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  • ESMA warned crypto investors on Tuesday: find out more

    ESMA warned crypto investors on Tuesday: find out more

    esma warns crypto investors
    • ESMA says MiCA will take time to be fully implemented.
    • Crypto investors, therefore, remain at risk in the meantime.
    • Bitcoin is trading well under the $29,000 level on Tuesday.

    All eyes are on Bitcoin after ESMA – the European Securities & Markets Authority cautioned crypto investors on Tuesday.

    MiCA will take time to be implemented

    Earlier this year, the European Union approved an extensive set of regulations for crypto assets that it’s calling Markets in Crypto-Assets Regulation.

    On Tuesday, however, ESMA warned crypto investors that it will likely take until December of 2024 for MiCA to be fully implemented.

    It is also worth mentioning here that a bunch of crypto firms will be able to remain in business without an EU license in states that grant them a transitional period of 18 months – which means full protections in these EU states will not be available until July 2026.

    At writing, Bitcoin is trading well under the $29,000 level.

    ESMA says no cryptoassets is ‘safe’

    ESMA did, however, confirm on Tuesday that it’s working closely with national regulators and is motivating them to apply Markets in Crypto-Assets Regulations rules as soon as possible.

    Even with full protection, though, it recommended investors to be cautious when investing in cryptocurrencies. The EU watchdog’s statement reads:

    Even with implementation of MiCA, retail investors must be aware that there will be no such thing as a safe cryptoassets.

    Currently, crypto assets are unregulated under the rules laid out by the European Securities and Markets Authority. Regulating the crypto market has become a priority for ESMA ever since the collapse of FTX and Terra Luna.

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  • Should Investors Buy More Shiba Memu Tokens

    Should Investors Buy More Shiba Memu Tokens

    TL;DR

    The cryptocurrency market has been bearish over the weekend. The prices of Bitcoin and other cryptocurrencies are in the red zone as sellers continue to be in firm control of the market.

    However, Shiba Memu’s presale continues to break records and has now surpassed the $3.2 million mark. 

    Bitcoin drops to the $26k level

    Bitcoin, the world’s leading cryptocurrency by market cap, has been underperforming over the last few hours. It has lost more than 1% of its value today, with the bears in control of the market. At press time, the price of Bitcoin stands at $26,161 per coin. 

    The other leading cryptocurrencies, including ETH, SOL, SHIB, and XRP, are all trading in the red zone. The decline in prices could serve as an opportunity for investors to invest in more projects. 

    The bearish sentiment hasn’t affected Shiba Memu’s presale as it hit a new milestone. This presale round has now generated more than $3 million. 

    What is Shiba Memu?

    Shiba Memu is a meme token project that wants to ease the way people and organisations handle marketing campaigns. The project is leveraging the powers of blockchain and AI technologies to offer real-world value to users. 

    While the project is still in its presale stage, investors have already pledged millions of dollars to the development of its products. At the moment, the Shiba Memu stage two presale has raised more than $3 million. 

    According to their whitepaper, Shiba Memu will use blockchain and AI to develop an unstoppable, entirely self-sufficient marketing powerhouse. The platform can handle the work of 100 marketing agencies with the help of AI. 

    Users who deploy Shiba Memu will have the platform working 24/7 for them to identify ideal creative scenarios and develop excellent marketing campaigns. 

    Shiba Memu is launching as a meme project thanks to the rise in the popularity of meme tokens in recent years. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $20 billion in 2022. 

    Shiba Memu will be a step above most meme projects as it will offer users real-world use cases. Shiba Memu will be able to develop its own marketing strategies, write its own PR, and promote itself in relevant forums and various social media platforms.   At the moment, Shiba Memu operates on BNBChain and Ethereum.

    Shiba Memu’s presale surpasses $3 million

    The crypto market has been bearish over the weekend, but that hasn’t stopped investors from seeking out quality projects. Shiba Memu’s stage two presale recently hit an important milestone. The project has raised $3.2 million in this current presale round and could reach its target very soon. 

    Funds generated from the numerous presale rounds would be used to develop the Shiba Memu products. Most of the funds would be allocated to the development of the Shiba Memu AI technology. 

    Click here to find out more about Shiba Memu’s presale event. 

    Should you invest in Shiba Memu today?

    The cryptocurrency market began the week in a bearish mode, and this has created investment opportunities for investors. As investors continue to search for excellent projects, Shiba Memu could be an excellent choice. 

    Shiba Memu will be combining the powers of AI and blockchain technologies to develop an excellent marketing platform. The platform will look to ease marketing strategies for companies and organisations. 

    Shiba Memu’s SHMU token could be a leading meme token with the right level of adoption. 

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  • Bitcoin’s correlation with gold sinks to two-year low, a warning for investors

    Bitcoin’s correlation with gold sinks to two-year low, a warning for investors

    Key Takeaways

    • Bitcoin’s correlation with gold is at a two-year low
    • Divergence highlights yet again that Bitcoin remains a risk-on asset
    • This may change in the future, but for now, Bitcoin resides on the long-end of the risk spectrum 
    • With full effects of tight monetary policy still to come, market should not get ahead of itself

    Bitcoin’s correlation with gold continues to fall, highlighting the oft-repeated goal of achieving a store-of-value status akin to digital gold remains a long way off for now. 

    We looked into this last month, when the correlation between gold and Bitcoin fell to the lowest value since the FTX collapse in November, an event which sparked mayhem in the crypto markets while the rest of the financial world traded quite placidly, including gold. 

    Since then, the correlation has continued to fall. Indeed, looking at the more volatile 30-day Pearson correlation metric, the relationship is approaching a near-perfect negative one over the past thirty days. The last time it dipped this close to -1 was over two years ago (it nearly hit this level post-FTX also). 

    While the prior metric is a little noisy and bounces around a lot due to the rolling 30-day window sample size, the next chart displays the same indicator but over a 60-day rolling window. Outside of the FTX collapse in November, the 60-day correlation is the lowest it has been in eighteen months, when Russia invaded Ukraine in February 2022 and sparked extreme volatility in the financial markets.

    What does this tell us? Not much, really, beyond what we already know: Bitcoin trades like a risk-on asset. That much has been clear over the past two years or so, as one of the fastest rate hiking cycles in recent history has pulled the rug out from risk assets. The Nasdaq shed a third of its value last year in what was the worst year for stocks since 2008. Bitcoin was far from immune, falling down to a low of $15,500 in the aftermath of the FTX collapse. 

    While the question over whether Bitcoin can decouple from risk assets in the long term remains one of the most intriguing, the numbers make it blindingly obvious that this has not happened to date. The pullback during last year’s bear market also emphatically strikes down any assumption that Bitcoin’s days of violent drawdowns were behind it (we are most definitely not in a “supercycle”), with the fall of over 75% from peak to trough being the fourth-worst in the last decade. 

    The recent dip in correlation follows a turbulent period in the crypto markets. The SEC sued both Binance and Coinbase, the two biggest exchanges on the planet, in the first week of June. Last week, Ripple secured a big win when a (partial) ruling on its two-year battle with the SEC seemed to imply it is not a security (although ambiguity does remain and there will likely be an appeals process). 

    These developments are obviously specific to the crypto markets, and with crypto not yet having a tangible impact on traditional finance markets, the turbulence did not carry over. 

    Additionally, the decoupling of gold and Bitcoin pours cold water on the theory that Bitcoin had already obtained its “hedge” status, which was spoken in some quarters as the asset rose amid the banking wobbles in March. In reality, while this price action was intriguing, it was likely more to do with the market pricing in a lower chance of future interest rate rises, as we discussed here

    “In a lot of ways, Bitcoin’s correlation with gold can be viewed as a progress tracker on the path to achieving the holy grail: an uncorrelated store of value for investors”, says Max Coupland, director of CoinJournal. “With this correlation dipping to a two-year low, it is clear there is a long way to go yet. Bitcoin remains highly susceptible to the whims of the stock market and the macro economy, and that is worth bearing in mind for investors amid the recent rise in crypto valuations”. 

    Remember, last year represented the first time in Bitcoin’s history that it observed a pullback in the stock market. Prior to that, it was humming along in the longest and most explosive bull markets in history, kicked off almost to the day when Bitcoin was launched (the stock market bottomed in March 2009, two months after the genesis block was mined). 

    All in all, Bitcoin is still trading like a risk asset, and it has experienced the pain of that label in the past eighteen months as interest rates have spiked aggressively. While it is up over 80% thus far in 2023, it remains 56% off its peak from November 2021. 

    Nonetheless, things are undoubtedly brighter today than they were nine months ago, when FTX collapsed and the world seemed destined for a gruesome recession. While that recession still may come (and indeed the prospect of lagged effects of tightened monetary policy loom large), economic indicators have been remarkably resilient while hopes of a soft landing have risen. 

    Personally, I fear the market may be getting ahead of itself, but what do I know? The sheer scale of rising from a zero-rate environment to a climate where T-bills are paying north of 5% is ferocious, and won’t be shrugged off lightly. Indeed, looking at previous cycles throughout history, the stock market has tended to pull back further after hikes have ended. 

    While past performance is never indicative of the future, it certainly should provide food for thought, as phrases such as “meme stock”, “altcoin” and “robinhood” creep back into the vernacular. 

    But whatever happens, the charts are clear: Bitcoin is still a risk-on asset. That means if the blood does hit the streets, gold will strongly outperform its digital cousin. Maybe that will change one day, but for now, the numbers don’t lie. 

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research.

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  • Retail investors will prefer Bitcoin over the dollar if US defaults: survey

    Retail investors will prefer Bitcoin over the dollar if US defaults: survey

    • Retail investors would prefer Bitcoin over the dollar in case of a default, a new survey says.
    • A US default could be here as early as June 1, experts have warned.
    • Standard Chartered analyst Geoff Kendrick previously predicted a 70% jump for Bitcoin price in case of a US default.

    A new survey has found that retail investors would prefer to buy Bitcoin (BTC) over the dollar in the event of a US default.

    According to the report, while gold and Treasury’s ranked higher on the list of trusted safe haven assets in case of a US default, BTC was seen as the third best asset, ahead of the US dollar.

    Retail investors would buy BTC over the dollar

    The results were from a survey conducted by Bloomberg’s Markets Live Pulse. The researchers had asked investors to indicate what they would buy were the US government to spiral to a debt ceiling.

    Gold was the top pick as 51.7% of professional investors and 45.7% of retail investors going for the precious metal. A significant percentage chose Treasurys, with 14% and 15.1% of professionals and retail investors respectively showing faith with the asset class.

    Meanwhile, Bitcoin ranked third among the responses as 7.8% of professional investors and 11.3% of retail investors picked it over the dollar. Per the survey, about 7.8% of professional investors and 10.2% of retail investors said they would still buy the dollar.

    Bitcoin price predictions in case of US default

    The US faces a default that could hit as early as 1 June 2023 should lawmakers fail to strike a deal to lift the $31.4 trillion debt limit. Stock investors were on Monday upbeat on a possible deal. However, stocks were mainly weak as reports of no consensus on the cards yet emerged.

    Bitcoin on the other hand remained poised above $27,400 as analysts projected a potential decline to support levels seen last week or lower. However, with the BTC price having rode the banking crisis to break above $31,000, it is possible a default could provide fresh fuel for more gains.

    As CoinJournal recently highlighted, this Bitcoin price prediction had been put forth by Standard Chartered analyst Geoff Kendrick. In his prediction, the head of FX research at Standard Chartered said the BTC price could explode by 70% in the event of a default.

    While he suggested an initial drop on the day, or two or week, of the default would likely clip bulls by $5k or so, the analyst believes the price of the digital gold could see a new $20,000 leg.

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