• Bitcoin,  Commentary,  Opinion

    Opinion | The Dip in Bitcoin Price Was Caused By Correlation With The Stock Market

    The reasons behind the largest cryptocurrency asset moving closer with the S&P 500 and Dow Jones

    Bitcoin hit a price of $42,874.62 early this Saturday morning. The largest cryptocurrency asset has not seen prices like this in nearly two months, and nonetheless in a 12% decline overnight. While many fear this to be a sign of an impending bear market, it is nothing more than a shakeout influenced by the recent decline in the stock market. Stock Market Pressure In recent weeks the stock market has seen selloffs of billions of dollars from billionaires like Elon Musk and Jeff Bezos. This is because the Biden administration is imposing a surtax on multimillionaires and billionaires. The tax is 5 percent on households making $10 million or more,…

  • This Week in Bitcoin

    MARKETS REPORT This Week in Bitcoin: Stocks and gold spark battle of bulls and bears

    Macro shifts set the scene for Bitcoin price fluctuations which took BTC/USD to near $9,500 and all the way back down.

    Bitcoin has gone from bearish to bullish and back again this week. With price action dictated by macro assets — gold and equities — traders and analysts have had to weigh a basket of positives and negatives.