"Copper may be a good example of the low potential for a commodity supercycle, notably versus an advancing bitcoin," McGlone wrote. "It's not that profound to expect one of the best-performing assets of the past decade to keep outpacing the old-guard industrial metal, and we see bitcoin's upper hand gaining endurance, and maturity, versus copper." Source link … [Read more...] about There’s a Reason Bitcoin’s Worth 500 Barrels of Oil: Bloomberg’s McGlone
Oil
Oil is the New Data
It's increasingly looking like Bitcoin Cash mining pools will run a version of the software called Bitcoin SV.An ongoing legal battle between XRP investors and payments startup Ripple is entering its next phase.Japanese IT giant GMO has reported a loss of about $5.6 million for its cryptocurrency mining business in the third quarter of 2018.Oil industry giants Shell and BP are … [Read more...] about Oil is the New Data
Ethereum’s (ETH) Price Holds $168 Support Amidst Historic Oil Dump
In brief: The price of US Crude oil fell hard to $0 with its futures contracts going as far down as $-40. The once in a lifetime event, shook the crypto markets with Bitcoin (BTC) going back below $7,000. At the time of writing this, the price of Ethereum (ETH) is holding the $168 support zone. Analysts across the world have constantly been calling for a recession but no one … [Read more...] about Ethereum’s (ETH) Price Holds $168 Support Amidst Historic Oil Dump
EMX Exchange Halts Trading of USOIL-Perp After Crude Oil Crash
In brief: Everyone was shocked when US Oil prices hit zero and global futures contracts fell hard into negative territory. Such an event had not been anticipated by the team at the EMX exchange. The team halted trading of its USOIL-Perp contract. Trading of the perpetual contract is yet to be reopened as the team decides on a way forward. Yesterday’s price movement of US … [Read more...] about EMX Exchange Halts Trading of USOIL-Perp After Crude Oil Crash
What is Crude Oil? A Trader’s Primer to Oil Trading
Crude oil is a major global energy source and a widely-traded commodity. In this piece, we look at the origins and history of crude, the key factors that affect its price and the main reasons to trade this asset.Main talking points:What is crude oil and what is it used for?Main players in the crude oil marketFactors that affect oil prices WHAT IS CRUDE OIL AND WHAT IS IT … [Read more...] about What is Crude Oil? A Trader’s Primer to Oil Trading