Bloomberg Intelligence’s senior commodity strategist shares the comparison between Bitcoin and Crude oil with regards to their volatility. While he expects BTC to surge further, the strategist thinks crude price can correct based on recent volatility.
The standoff between UAE and Saudi Arabi has kept the oil price floating around $75. Any failure to reach a deal could potentially shoot the oil price resulting in major inflation and derailing the efforts of economic recovery.
Goldman Sachs executive said that the recent market rout provides a great opportunity to new entrants and its clients are showing greater interest in crypto-based products in recent times.
As per a hedge fund of $7.5 billion, by next year, gold will take a hike. However, the investors who are looking for alternatives to currencies can go for BTC.
The fears of Iran increasing its oil production while the rest of the OPEC members’ steady production may offset the global oil pricing.
The CME micro Bitcoin futures allows retail players and individual crypto investors to deal with small-sized contracts thereby ushering more market liquidity while giving the smaller players equal exposure to a regulated environment.
The expectations of Dogecoin futures from the CME might be attributed to the launch of similar products by some major cryptocurrency exchanges.
The 916,000 jobs added in March features about 280,000 new workers from the hospitality and leisure industry, while construction and manufacturing reported 110,000 and 53,000 added jobs respectively.
After steadily moving up since the middle of last year, the price of crude oil succumbed to profit-taking in the last two weeks due to it becoming very overbought.
The CME is set to launch micro Bitcoin futures in May. The new investment tool aims to include sidelined clients and ensure more precision, risk management and choice.
Bitcoin stands above all the other assets with an average annualized return of 230%.
While the OPEC countries are keen on keeping the production output for oil low, Russia, Iran, and UAE have hinted at boosting production during the same time. Saudi is keenly watching all the developments with detailed attention.
The auction took place on the Nifty Gateway, an NFT art platform wholly owned by Gemini, the crypto exchange started by the Winklevoss brothers.
Mazzanti Automobili is planning to raise a massive $1.2 billion via STOs and has added that it will accept BTC payments against the purchase of its Evantra Model.
The market is getting heated this week with 61.3K BTC options set to expire on Friday. This factor suggests something big is brewing with BTC price.