Day: May 24, 2021

Goldman Sachs Endorses Bitcoin as New Asset Class

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Key Takeaways Goldman Sachs has published a report about Bitcoin’s potential. The report includes comments from several Goldman Sachs members, including Head of Digital Assets Matthew McDermott. Goldman Sachs launched a cryptocurrency trading desk for institutional investors earlier this month. Share this article Financial giant Goldman Sachs has acknowledged Bitcoin as a new asset class in comments made alongside a recent research report. McDermott Says Bitcoin Is Investable Asset The report includes comments from Goldman Sachs members, including GS Global Head of Digital Assets Matthew McDermott. McDermott states that “Bitcoin…

Another Security Attack on Binance Smart Chain

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Key Takeaways Bogged Finance reported that an unknown attacker successfully drained $3 million from its liquidity pools. The attack used a flash loan to exploit a code vulnerability. The rising number of attacks on Binance Smart Chain projects has created major security concerns for the blockchain. Share this article Bogged Finance, a project built on Binance Smart Chain (BSC), faced a malicious attack in which $3 million worth of funds was drained from its liquidity pool. The incident is the second flash loan attack taking place on BSC in the…

Building The Case That The Bitcoin Bottom Is In

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Bitcoin price is back at $37,000, recovering from a frightening plunge to as low as $30,000. The selloff struck fear into the market unlike never before, making buying the dip a scary risk to take. However, there’s several signs that the bottom could be in, all while sentiment has turned fully bearish and the market expects far deeper lows. Could that in and of itself be a sign the bottom is in? Recapping The Recent Crypto Market Correction The recent peak in Bitcoin price was a “top” that very few…

Ray Dalio Owns “Some Bitcoin” as an Inflationary Hedge

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Share this article The chief economist and founder of Bridgewater Associates, Ray Dalio, says that he owns “some Bitcoin.” Ray Dalio Owns Bitcoin  Ray Dalio, the billionaire investor who presides over the asset management firm Bridgewater Associates, says that he holds Bitcoin.  Speaking to Michael J. Casey at Consensus, Dalio added that he’d rather own Bitcoin than a bond in an inflationary environment.  The veteran economist has recently shown positive interest in the cryptocurrency, conceding that he “might be missing something” about Bitcoin.  Dalio’s latest update on Bitcoin came in January…

Goldman Sachs Flashes Buy Signal for Coinbase Stock

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Key Takeaways Goldman Sachs analysts have sent out a buy signal for Coinbase’s stock, targeting a price of $306. Crypto exchanges like Coinbase experienced record trading volumes during last week’s crypto crash. Huobi and OKex shares on the Hong Kong stock market dropped in tandem today as China’s crackdown continues. Share this article Goldman Sachs analysts have suggested a short-term buy signal for Coinbase shares. The recent downtrend in Bitcoin prices sent shock waves across crypto-related stocks, including COIN. Crypto Markets Down, Coinbase Volume Up  Goldman Sachs has sent out…

Ethereum Faces Hurdles, Here’s What Could Trigger Strong Recovery

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Ethereum extended its decline and traded close to the $1,700 zone against the US Dollar. ETH price is recovering, but it is facing a strong resistance near $2,200. Ethereum extended its decline below the $2,000 and $1,800 support levels. The price is well below the $2,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $2,200 and $2,400 to start a decent recovery in the…

Here’s Why BTC Could Struggle To Surpass $37K

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Bitcoin price tested the $30,000 support and it is now recovering higher against the US Dollar. BTC is likely to face a strong selling interest near $37,000 and $38,000. Bitcoin extended its decline and it even traded close to the $30,000 support. The price is now well below the $38,000 resistance and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $37,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face a strong…