The economic fallout from the Coronavirus is starting to be felt across the world. China’s economy has been the hardest hit but contrary to wider market movements, bitcoin mining stock is rising.
Bitcoin Mining Stock Surges
According to a report from local media outlet 8BTC bitcoin mining hardware giant Canaan has seen its stock prices rally in recent weeks.
CAN stock rallied over 80% yesterday topping $8 according to NASDAQ as over 11 million shares traded hands. The Chinese bitcoin mining firm went public in November becoming the first of the ‘big three’ Chinese bitcoin miner makers to float on US markets.
Since then performance had faltered with a plunge of over 50% since the IPO dropping prices to an all-time low of $4.31. Analysts believe that the recent resurgence has coincided with bitcoin prices topping $10,000.
Miners have been scaling operations by purchasing newer hardware, possibly in anticipation of greater competition following the halving in less than three months.
The report added that many miners have been phasing out their old hardware which generates higher demand for machines that deliver better hash rates and energy efficiency.
Blockchain and crypto related stocks on markets in the US, Hong Kong and Mainland China, have all been performing well recently as digital asset markets continue to strengthen.
According to Canaan sales director, Chen Feng, hardware prices have been rising due to increase demand due to delayed shipments.
A bitcoin hash rate surge has also been expected as the outbreak comes under control, some manufacturing industries may work overtime to make up for the two week production break.
Rallies in stock prices for bitcoin related companies are also expected as the halving nears and market momentum continues.
Economic Slowdown
The Coronavirus outbreak has disrupted Chinese economic output and Alibaba Group’s CEO Daniel Zhang has warned of a possible ‘black swan’ event that could impact the global economy.
According to reports demand for goods and services have declined, and the delay of the workforce getting back to work could further hinder economic growth.
The Washington Post added that the ‘financial hangover’ from the outbreak could last for months even after the virus is finally neutralized.
According to Capital Economics in London the epidemic’s after effects will probably cause the global economy to shrink this quarter for the first time since the depths of the 2009 financial crisis.
This is all coming at a time when central banks are scrambling to bolster their economies by flooding financial markets with newly minted money.
Will bitcoin prices benefit from a global economic slowdown? Add your comments below. origin »
Data shows the Bitcoin correlation with the stock market has been high in recent months as the crypto has been closely following S&P 500 and NASDAQ. Bitcoin Has Continued To Mimic Movements Of The US Stock Market In 2022 As per the latest weekly report from Arcane Research, while BTC has been more volatile than […]
Argo Blockchain, already listed on the London Stock Exchange, expects the proposed offering to start in Q3, subject to SEC approval.
The post Bitcoin Miner Files to Go Public in the US Stock Market first appeared on BitcoinExchangeGuide.
Any attempts from Bitcoin to secure higher price levels may fall short as long as its correlation with the US stocks sustains. So predicts Ronnie Moas, a stock market analyst heading Florida-based research firm Standpoint Research.
Bitcoin price surged 12% in the last 24 hours, according to Coinmarketcap data. The bullish mood coincides with the recent rebound in the US stock market, as S&P 500 futures were up 4% in the morning.
A bitcoin stock listed on the London Stock Exchange has soared by 300 percent to hit its 11-month high. Shares of UK-based Argo Blockchain PLC (LON: ARB) today established a year-to-date peak of $10.
Whilst we are battening down hatches, and wrapping ourselves up for protection against the present crypto-winter, remember one thing. All is far from perfect in fiat-land around the globe… and Bitcoin is currently quite the bargain as the stock market is looking shaky once again.
An investor in the Stock Exchange of Thailand (SET) as well as employees in no less than three banks have been implicated in the $24 million Bitcoin scam involving actor Jiratpisit “Boom” Jaravijit.
The US Securities and Exchange Commission (SEC) obtained a permanent penny stock bar and an officer-and-director bar against the founder of a fraudulent initial coin offering (ICO), which actually entered the cryptocurrency market as a cover for funding an oil exploration company in California.
Pot publication High Times stretched the concept behind its name a little too far. The company said two weeks ago that it would be the first to accept Bitcoin during its stock offering. However, now, it suggests that the statement was made in error and that only fiat will be accepted during the event.
Could we soon see a token-backed project listed on one of the biggest equity venues in the world? An Asian ICO venture is reportedly trying to take over a Tokyo Stock Exchange listed firm, which would effectively make it a public company.
Over the weekend, information surfaced that could suggest that mining giant Bitmain may be facing an uphill battle as it looks to launch an IPO on the Hong Kong stock exchange.
The Jamaica Stock Exchange (JSE) has announced it plans to allow investors the ability to trade cryptocurrencies through the regulated stock exchange. According to the JSE, the Canadian-based Blockstation will help facilitate the crypto-trading services.
Noah Coin (NOAH), which ranks 143 in the cryptocurrency market with a capitalization of $33 million, is seeking to enter the Tokyo Stock Exchange (TSE) by taking control of China-linked company Beat Holdings.
A “crypto fund” is essentially an emulation of a legacy investment fund, where “funds” trade on users’ behalf. Very much the legacy experience of having a broker position investors within a fund that trades whatever stock in trade they handle, a crypto fund buys and trades on users’ behalf without investors having to source, purchase […]
Criticisms Against Bitmain’s IPO Pile up as Critics Accuse the Company of not Making Q2 Results Public Bitmain has plans of going public and reportedly trying to raise $18 billion USD on the Hong Kong Stock Exchange with a market cap ranging from $40-$50 billion.
The regulators have awoken. SEC Director William Hinman introduced novel concepts to the securities law analysis such that sellers of digital assets may have an escape valve.
Despite bitcoin-positive news coming from Wall Street, the price of bitcoin dropped by fifteen percent week-on-week, to close around the $7,000 mark on Sunday. Asset management giant Northern Trust announced that it would move into the cryptoasset custody business to provide custodial services to digital asset investors.
The second largest stock exchange in Germany, Boerse Stuttgart, is taking yet another step to make its mark in the world of cryptocurrencies. The exchange has plans to create a new platform that will feature initial coin offerings (ICOs) and provide multilateral trading opportunities to investors looking to get hold of this new asset class.
Growing support from Wall Street is encouraging Bitcoin bulls. As a result, big money from financial institutions could soon enter the crypto market. Investing in Digital Gold Bitcoinist reported yesterday that Goldman Sachs is moving to solve Bitcoin’ main obstacle for institutional investors: custody.
A lot of people in Switzerland have left the traditional financial sector to work in the crypto space, in which the banking nation is now developing a niche market. The Swiss banks don’t show enthusiasm officially, but they massively have interests in dealing with Bitcoin, insiders say.
The Bitcoin craze doesn’t seem to end, regardless of how far the prices of the currency falls. The recent rise in the conversation regarding Bitcoin ETF has sparked new interest in some industry stalwarts.
Intercontinental Exchange (ICE) digital asset platform Bakkt will “make a Bitcoin ETF completely redundant” when it launches in November, a prominent social media commentator has forecast. ‘Completely Redundant’ Commenting on the news the New York Stock Exchange owner was collaborating with Microsoft, Starbucks and others on a regulated “ecosystem” for digital assets, Twitter user known as Parabolic Trav said that the platform – known as Bakkt – would fulfill the functions originally intended for an
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The post NYSE Owner’s BAKKT Platform ‘Makes Bitcoin ETF Redundant’: Commentator appeared first on Bitcoinist.com.
The BTC network has never been subject to the levels of institutional interest currently being observed. Globally, stock exchanges, derivative markets, commerce solutions are increasingly understanding that crypto is a serious asset class.
Nobel Prize winning economist thinks that the crypto markets could easily “collapse,” Kim Kardashian gets in Bitcoin with some light gambling--check out this week’s Hodler’s Digest
Popular commission-free stock trading platform Robinhood has only recently launched a cryptocurrency-trading service, which started in select states. Now, the platform is slowly expanding to other states.
Stock “Market Maven,” CEO, and author Clem Chambers believes Google Trends statistics for the search term “Bitcoin” are telling us that the worst is over for Bitcoin investors. But, that’s no good if you are waiting for the new low before you buy.
Ever since the boom of cryptocurrency, all investors and traders have been waiting for the day they could buy coffee at Starbucks with Bitcoin [BTC]. Now, the dream seems to be realized with the new partnership between Starbucks, Microsoft and Intercontinental Exchange.
Idealistic startup Argo Blockchain PLC, a mining company, is the first cryptocurrency-related firm to sit on the prestigious London Stock Exchange. In only its initial trading day, Argo raised $32 million, earning a $61 million valuation in the process.
Far from its introductory issue of just 10,000 copies, High Times, “the original voice in cannabis” is expanding, and it’s inviting cryptocurrency along for the ride. The New York-based company is offering shares of its stock for just $11 per share, with a minimum investment of $99, as stated on their website as of August 2, 2018.
According to a press release on August 3, 2018, Intercontinental Exchange (ICE), the New York Stock Exchange (NYSE) parent organization and 22 other bourses (stock market in a non-English-speaking country), announced plans to launch a regulated marketplace for digital assets.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced this Friday plans to launch cash settled bitcoin futures this November pending approval by the Commodities and.
The news that the owners of the New York Stock Exchange – the Intercontinental Exchange – has teamed up with Microsoft, BCG, Starbucks and other firms to launch the Bakkt company that will push Bitcoin and other digital assets towards becoming mainstream financial asset, has come at an opportune time in the crypto-verse.
Intercontinental Exchange (ICE), owner of arguably the most important stock exchange in the world, the New York Stock Exchange (NYSE), is introducing a new company, Bakkt. The idea is to weave bitcoin into 401(k)s, credit cards, and retail.
Less than 24 hours ago, the owners of the New York Stock Exchange – Intercontinental Exchange (ICE) – announced that they would be partnering with Microsoft, BCG, Starbucks and other firms, to launch a market and ecosystem to list physically settled Bitcoin futures contracts and for a new company to push Bitcoin and other digital assets […]
The post Bitcoin (BTC) ETF Might Be Possible With the Bakkt Announcement, says CNBC’s Brian Kelly appeared first on Ethereum World News.
This November, cryptocurrency users will be introduced to Bakkt, a new company designed to give millions of retail merchants the chance to buy, sell and trade digital currencies — and even buy a cup of coffee.
On Thursday, the well-known cannabis culture brand and publication High Times announced it’s holding an initial public offering (IPO) and that it will be the first regulated A+ stock offering to accept cryptocurrencies.
NYSE Parent, Intercontinental Exchange, to Launch New Futures Contracts Delivering Real Bitcoin The Intercontinental Exchange (ICE), the Atlanta-based company which owns the New York Stock Exchange (NYSE) announced on Friday that it plans to launch a couple of new products, the first being its new platform for digital assets, as well as a Bitcoin futures […]
Legacy cannabis culture media High Times Holding Corporation will be accepting Bitcoin (BTC) and Ethereum (ETH) during its Initial Public Offering (IPO). By doing so, it will purportedly become the “first traditional stock offering ever to accept investments” through cryptocurrencies.
BAKKT BY ICE. The rumors are true. On Friday, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced plans to form Bakkt, a company focused on the development of a regulated platform where people can buy and sell cryptocurrencies.
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), is partnering with Microsoft, Starbucks, BCG and others, to launch a market and ecosystem to list physically settled Bitcoin futures contracts and for a new company to push Bitcoin and other digital assets towards becoming mainstream financial asset.
New York Stock Exchange operator Intercontinental Exchange (ICE) has revealed it plans to launch a global digital asset platform in November as a “scalable on-ramp” for investors. ICE To Build ‘Scalable On-Ramp’ In a press release August 3, ICE, which signaled its intention to launch physical Bitcoin futures in May, will debut them alongside the new platform, dubbed Bakkt.
Cannabis culture media organization High Times Holding Corp. will accept cryptocurrencies in its Initial Public Offering (IPO), High Times reports Aug. 2. In doing so, it will reportedly be the “first traditional stock offering ever to accept investments” in cryptocurrencies.
Boerse Stuttgart is going deeper into crypto. The German stock exchange is planning to set up a new trading venue that would allow the exchange of tokens from the ICOs it wants to host, as well as established cryptocurrencies.
A Japanese company listed on the Tokyo Stock Exchange is offering loans secured by three cryptocurrencies: BTC, BCH, and ETH. Clients can borrow up to 300 million yen (~$2. 7 million) at varying interest rates.
Older market watchers seem to drift toward stocks and shares when investing their capital. Bitcoin and all other cryptocurrencies are considered high-risk when investing in them. Meaning that there is more chance to lose your investment money as well as make a profit.
An early Bitcoin bull and former Wall Street trader, Mike Novogratz is bringing cryptocurrency to institutional investors. Following a crypto bear market, Novogratz’s merchant bank Galaxy Digital LP listed on Canadian stock exchanges today, August 1, 2018.
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