Tag: Bitcoin (BITSTAMPUSD)

Bear Market Rally Or Something Else?

Posted on by The INO.com Team

The stock market ended the week higher for its best week in over a year. But the question is, is this just a bear market rally, or have we seen the bottom and its blue skies ahead?

The DOW rose 274.17 points or +0.80% to close at 34,754.93, its fifth day of gains to close out the week. The S&P 500 gained +1.17% to reach 4,463.12, and the NASDAQ added 2.05% to end the day at 13,893.84. Both indexes surged for a fourth consecutive day.

On a weekly level, the S&P 500 notched a +6.16% gain, the DOW posted a weekly gain of +5.50%, and the NASDAQ outperformed with a monster gain of +8.18%. These gains helped the indexes post their best week since November of 2020. Continue reading "Bear Market Rally Or Something Else?" →

Crypto: Failed Rally Builds Ambiguous Pattern

Posted on by Aibek Burabayev

Before starting the crypto update, I would like to check an assumption circulating in the media regarding a strong correlation of Bitcoin with the Nasdaq 100 index in the chart below.

Crypto

It is safe to say that over the past two years, most of the time, Bitcoin was in a positive correlation with the Nasdaq 100 index. However, the current positive relationship is cooling down as we saw an almost absolute correlation at the beginning of February at 0.91, and these days it slipped down to 0.34.

Miscorrelation periods usually appear due to the higher volatility of Bitcoin and longer periods of price inertia in the stock index. In other words, these two instruments have different speeds. Continue reading "Crypto: Failed Rally Builds Ambiguous Pattern" →

DOW Joins The Death Cross Party

Posted on by The INO.com Team

The DOW fell once again Friday and notching its fifth straight week of losses joining the Death Cross party with the NASDAQ and Bitcoin.

As far as Friday's trading was concerned, the DOW fell 229.88 points or -0.69% to close at 32,944.19Likewise, the S&P 500 fell -1.30% to 4,204.31, and the NASDAQ fell -2.18% to end the week at 12,843.81.

On A weekly level, the DOW fell -1.99%, the S&P 500 slid -2.88%, and the NASDAQ once again suffered the most significant weekly loss, losing -3.53%. Continue reading "DOW Joins The Death Cross Party" →

Ukraine/Russia Conflict Weighs On Markets

Posted on by The INO.com Team

Stocks fell on Friday, ending the week lower with the DOW posting its fourth straight weekly loss as worrisome developments in Ukraine weighed on sentiment.

As far as Friday's trading was concerned, the DOW dropped 179.86 points or -0.53%, to close at 33,614.80. Likewise, the S&P 500 declined -0.79% to 4,328.87, while NASDAQ moved down -1.66% to end the week at 13,313.44.

On A weekly level, the DOW fell -1.30%, the S&P 500 slid -1.27%, and the NASDAQ suffered the most significant weekly loss, losing -2.78%. However, the flight to safe havens continued with gold gaining +4.30% and the U.S. Dollar gaining +2.03%. Continue reading "Ukraine/Russia Conflict Weighs On Markets" →

Behind Wells Fargo's Crypto Report

Posted on by Wayne Burritt

As you know, if you've been visiting here over the past year, we've had a ton of fun looking at how some of the biggest financial powerhouses are approaching cryptocurrency and blockchain investing.

Most recently, investment banking behemoth Goldman Sachs said that Bitcoin (BTC) was likely headed to $100K and above in 2022. When I used a similar calculus to what they did, my numbers were even higher.

We also looked at the bombshell crypto report from Bank of America that said in no uncertain terms that crypto was "too large to ignore." And we also did a deep dive into what consultancy giant Deloitte found when it asked businesses how they felt about the crypto and blockchain space. And the bottom line from that report was that if you're in business and you ignore crypto, you do so at your own peril.

Now, banking giant Wells Fargo has thrown their hat in the ring with what they think about the future of cryptocurrency for investors. And I think you'll be as surprised as I was when I looked under the hood of the report.

So, let's get down to business! Continue reading "Behind Wells Fargo's Crypto Report" →