Bitcoin stealthily moved over the $9,000 mark overnight, despite the continuing noise coming out by financial watchdogs.
While I still believe bitcoin is the blue chip of the cryptocurrencies, over the last month’s rise it has lagged other acceptable digital currencies in appreciation. Ripple soared 85% and ethereum is up almost 65% over the last two weeks, while litecoin and bitcoin trail with roughly 36% appreciation over the same time frame. Continue reading →
President Trump — bolstered by the 750-point snap back in the Dow Wednesday — tripled down on his China tariffs Thursday stating the US was looking at an additional $100 million in imports.
Market futures on Friday morning seem to confirm that the new ploy has a much smaller effect on the markets. Futures this morning are down 200 points as oppose to -500+ Wednesday morning. Continue reading →
I had another conversation with a Wall Street chart technician about bitcoin and where it might be going over the short term.
The last 30-day trend line is very evident coming off of a $11,500 high in the beginning of March down to a low of $6,600 overnight. Bitcoin now sits just below the $7,000 mark as I write this Friday morning. Continue reading →