Wednesday, November 30

Tag: Markets

Bitcoin surges above $8,000 for the first time in 2 months ahead of a key halving in the crypto markets | Currency News | Financial and Business News
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Bitcoin surges above $8,000 for the first time in 2 months ahead of a key halving in the crypto markets | Currency News | Financial and Business News

Reuters Bitcoin crossed the $8,000 mark for the first time on Wednesday since March ahead of "bitcoin halving" that will take place on May 12.  Some analysts expect the bitcoin halving to increase prices. "After the two previous halvings, we've seen the price reach an all-time high within 3-9 months — which would be $20,000 in this case," one analyst said. Track the price of bitcoin live here. Bitcoin surged 11% on Wednesday and crossed $8,000 the first time since early March as analysts said a key deadline that will reduce the amount of units is helping boost prices.  Bitcoin is currently trading around $8,625 as of 12.55 p.m ET.  The last time it was anywhere near this level was in March, before stock markets crashed and when the impact of coronavirus began to spread.  An...
Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News
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Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News

Reuters The cryptocurrency market added $13 billion in value over the past day as bitcoin jumped more than 6% Thursday evening. Bitcoin has rallied more than 100% from its March 16 low and has eclipsed $10,000 for the first time since February. The three major reasons for the move include anticipation of the next bitcoin halving, institutional investors adding exposure, and the perception that bitcoin would protect against a surge in inflation. Visit Business Insider's homepage for more stories. Bitcoin jumped 6% on Thursday, causing a $13 billion surge in market value for the entire cryptocurrency market, according to data from Coindesk. The entire cryptocurrency market is worth a combined $267 billion as of Friday morning, data from CoinMarketCap shows.  The to...
Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News
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Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

Spencer Platt/Getty Images Hedge funds posted their best month in more than a decade as March's lows gave way to a resounding rally through April. Eurekahedge's Hedge Fund Index gained 3.7% last month, its biggest jump since May 2009. A combination of Federal Reserve action, risk-on attitude, and optimism toward COVID-19 vaccine trials pushed investors back into the stock market. Major US indexes posted their best month since 1987 and rallied out of bear market territory.  Nearly 80% of the index's members gained in April, with 10% of managers posting double-digit returns. Eurekahedge's North American Hedge Fund Index jumped 5.4%, while its European peer gained 3.5%. The index for Asia excluding Japan posted the biggest regional win with a 6.5% return, while the Japan-focus...