Bitcoin risks lowest weekly close in 2 months but BTC buyers stock up at $53K

Bitcoin (BTC) hovered around $54,000 on Nov. 28 as the upcoming weekly close showed signs of hitting two-month lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buyers keen at $53,000 Data from Cointelegraph Markets Pro and TradingView followed a quiet 24 hours for BTC/USD after Friday’s $6,000 red candle. Although quiet into Sunday, the pair nonetheless dipped below a major zone of support on weekly timeframes, opening up the potential for its lowest end-of-week levels since late September. For trader and analyst Rekt Capital, $55,800 should be reclaimed to reverse this,…

MicroStrategy stock flips bullish with MSTR a Bitcoin ‘proxy’ for institutional investors

MicroStrategy’s stock, MSTR, is preparing to undergo a massive bull run in the sessions ahead. So shows a technical setup, dubbed inverse head and shoulder, that has a history of predicting upside moves with an accuracy of 83.44%, as per Samurai Trading Academy’s research. MSTR appears to have formed a similar bullish structure, as shared by independent market analyst Bob Loukas. MicroStrategy stock daily chart featuring inverse head and shoulder setup. Source: Bob Loukas, TradingView In detail, an inverse head and shoulder (IH&S) is when the price forms three troughs…

PayPal reportedly looks to take on Robinhood with stock trading

American payment giant PayPal is reportedly exploring ways to offer stock trading after launching cryptocurrency trading services last year. PayPal is looking to buy or partner with a broker-dealer to introduce its own stock trading service to compete with rivals like crypto-friendly stock trading app Robinhood, CNBC reported on Aug. 30. Citing anonymous sources, the report notes that PayPal has conducted relevant discussions with potential industry players but is unlikely to launch the new investment service this year. According to CNBC, PayPal’s potential approval as a brokerage firm by the…

Coinbase stock is cheap, put 5% of your portfolio in crypto

Jim Cramer, the host of CNBC’s “Mad Money” has recommended buying Coinbase stock, and suggested that 5% of investment portfolios should be allocated to cryptocurrency. Cramer made the comments in the Lightning Round on Aug. 25 in response to a caller who asked whether buying Coinbase stock was a good way to get crypto exposure. The 66-year-old finance personality stated that while Coinbase’s listing went “very poorly” he views it as a big player in crypto: “I think Coinbase is inexpensive. I don’t really care for management because I think…

Vienna Stock Exchange will list crypto ETPs from ETC Group

London-based financial services firm ETC Group will list its entire portfolio of crypto exchange-traded products (ETPs) offering exposure to Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) on Austria’s national stock market. In a Wednesday announcement, the ETC Group said the Wiener Börse, or Vienna Stock Exchange, would be listing three of its crypto exchange-traded products that are “100% physically backed and central counterparty cleared.” These include the firm’s carbon-neutral Bitcoin product, a Litecoin-based product and its Ether ETP. The ETC Group has already made similar listings on stock exchanges in London, Paris, Amsterdam, Zurich…

Will the Bitcoin price drop if the stock market crashes?

The year 2009 was marked by both the genesis of Bitcoin and the United States stock market starting an unprecedented bull market — one that’s continued almost uninterrupted since. However, murmurings of a crash are always present, and the noise has recently been getting louder.  Against the backdrop of COVID-19 refusing to go away, stocks keep pushing higher, backed by an unprecedented amount of government support. But now that quantitative easing policies are no longer being implemented, is the talk of a stock market crash justified? If so, this could…

Reports suggest that a mainstream tech giant holds shares of Coinbase stock

Over the course of 2020 and 2021, the cryptocurrency industry has attracted a notable amount of mainstream attention. In line with the growing awareness of the crypto industry, Intel, a tech company with history dating back to the 1960s, revealed an investment in crypto exchange Coinbase (COIN).  Although a number of specifics remain unknown, such as when the purchase occurred, required Q2 financial disclosure from Intel showed the outfit carrying 3,014 COIN shares at Q2’s conclusion, according to a Friday article from Barron’s. “Intel was obligated to disclose the stake…

Robinhood stock outruns Bitcoin in intraday crash, down over 10% in pre-market

The cost to purchase one Robinhood share (HOOD) dropped massively in the pre-market session on Thursday, beating even so-called volatile cryptocurrencies like Bitcoin in terms of intraday losses. In detail, HOOD was down 10.2% to $63.25 as of 8:00 am EDT compared to its $85 high in the previous session. On the other hand, Bitcoin (BTC) is down almost 6% over the past 24 hours, trading around $37,600. The stock plunged partly because of its excessive valuations that prompted traders to lock their interim profits. Moreover, its sell-off accelerated after…

Echoing GameStop saga, retail traders fuel Robinhood stock price hike

After making unwanted headlines with its disappointing initial public offering (IPO) debut on Nasdaq last week, shares in stock and cryptocurrency trading app Robinhood have seen wild volatility in recent days. In an ironic twist that saw the price of HOOD stocks soar by as much as 82% in one day, the app that has so often been the beneficiary of frenzied meme stock trading itself began to resemble the latest online craze. Since its debut on Nasdaq on July 29, HOOD is up 102% and is trading at $70.39…

Hands-On With TradingView ‘All Time Highs’ Bitcoin & Stock Tarot Cards

Bitcoin and the stock market over the last year has transcended pop culture, and been fully embraced by the world of memes and the mainstream. What started as an April fool’s day joke earlier in the year, has since turned into a dream come true for this very trader who adores the occult and unorthodox. TradingView has graciously shared a pack of their limited edition All Time Highs finance-focused tarot cards, which we’ve now had the chance to dig into. Here’s a hands-on look at the most unique tarot cards…