Bitcoin Hits $8K Erasing Coronavirus Crash — 13 Days Till Halving

Bitcoin (BTC) price finally hit $8,000 on April 29 as a solid week of gains continued to buoy markets. Cryptocurrency market daily overview. Source: Coin360 BTC price returns to $8,000 Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD breaking the $8,000 after a seven-week absence. The move firmly reverses Bitcoin’s crash in mid-March, when the cryptocurrency shed 60% in a day to plumb 15-month lows of $3,600. Bitcoin 1-day chart. Source: CoinMarketCap At press time, the new levels had yet to cement themselves amid short-term volatility, with highs on exchange…

Storj Launches Free Storage Program for Coronavirus Research

Decentralized storage network, Storj, has launched a program providing free storage to organizations participating in COVID-19 research. The program follows widespread contributions from the crypto community toward the distributed scientific research platform, Folding@Home. Organization researching COVID-19 qualify for 2TB in storage On April 22, Blockchain-based cloud network, Storj, announced a program offering free online storage to organizations engaged in research contributing to the global fight against the coronavirus pandemic. Storj’s storage program will provide qualifying organizations with one terabyte of free cloud storage. Qualifying entities will also receive a monthly…

Coronavirus Has Put Bitcoin’s Safe Haven Narrative to the Test

The price of Bitcoin (BTC) suffered a tremendous crash on March 12, falling from almost $8,000 to stabilize at around $5,000, a loss of about 40% in the span of less than two days. This happened in the context of a global sell-off in all equity markets, where United States stock market indices such as the Dow Jones Industrial Average and the S&P 500 lost around 10% in a single day — a substantial loss for traditional markets. Some were quick to decree the end of the narrative that Bitcoin…

Coronavirus Is Less Deadly Than We Thought. Is It Time to End the Lockdown?

The coronavirus has infected 21% of New York city’s population, according to antibody tests. The data imply the disease is much less fatal than previously believed, and lockdowns aren’t the best way to stop it. Should more countries follow Sweden’s controversial herd immunity strategy? Officially, the Wuhan coronavirus pandemic has infected over 2.7 million people around the globe. But in reality, the total number of infections could be millions more. According to antibody tests conducted in New York, up to 21% of the city’s entire population has already been exposed…

3 Key Factors Pushing an Early Coronavirus Vaccine Breakthrough

Coronavirus vaccines can be produced before the projected 18 months, scientists say. In the U.K., Oxford researchers injecting the first vaccines in humans said a vaccine could come by September. The U.K., South Korea, China, the U.S., Switzerland, and Germany are prioritizing vaccine testing. The expectations for a coronavirus vaccine has waned in the past several weeks, following Dr. Anthony Fauci’s firm statement that it is unlikely to arrive in the next 12 to 18 months. But, three key factors indicate that there is a possibility vaccines can be produced…

Why Your Favorite ‘Coronavirus Stock’ Just Took Wall Street on a Nasty Ride

Gilead Sciences’ promising coronavirus drug made waves last week. Today, leaked WHO documents showed it flopped in a 237-person trial. Gilead was quick to downplay the trial as too small to be conclusive. But the firm wasn’t so conscientious about last week’s much smaller trial. The U.S. stock market ended Thursday flat after suffering a wild wobble midway through the session. The culprit? Every retail investor’s favorite coronavirus stock – Gilead Sciences. The Financial Times reported that the most promising coronavirus treatment – remdesivir – failed in a clinical trial.…

Dow Swings Wildly After Trial ‘Flop’ Ignites Coronavirus Drug Fears

The Dow Jones was knocked from its highs on Thursday after the leading candidate for a coronavirus treatment failed a big test. A strong start to the day saw the stock market initially shrug off another 4 million jobless claims. ING reports that less than half of working-age Americans will have a paycheck next month. A resurgent Dow Jones Industrial Average (DJIA) slammed into a wall on Thursday after Gilead Sciences’ experimental coronavirus treatment drug reportedly “flopped” in its first trial. The Financial Times broke the story, which triggered wild…

The Coronavirus Recession Will Be Worse Than 2008

Seventy percent of investors in a recent survey said the coronavirus recession would be worse than the 2008 financial crisis. But interestingly, 55% say the recession will be over within a year. It took the S&P 500 16 months just to reach bottom during the 2008-09 crisis. And it took over five years to fully recover. The U.S. stock market bounce-back from the coronavirus crash has stalled over the last two weeks. After share prices crashed faster than any time in history starting in late February, equities began to rally…

Here Are 3 Stocks Poised to Surge After the Coronavirus Pandemic

Investors who missed the recent bounce have the opportunity to enter the stock market once the crisis is over. Shares of Tesla and Disney are poised to take off as demand picks up after the economy reopens. Netflix has benefitted from the lockdown and is looking to extend its gains even after the pandemic is over. Covid-19 has hit global markets hard, and the S&P 500 has no immunity over the virus. The bellwether index is down over 17% from all-time highs. While bulls have been aggressively buying the dip,…

Russia May Lift Telegram Ban Due to Coronavirus Outbreak

After years of unsuccessful efforts to block Telegram in Russia, the country’s government is now considering lifting the ban due to the coronavirus outbreak. According to an April 22 report by Russian news agency Kommersant, two deputies at the State Duma have prepared a draft bill on terminating the ban of Telegram’s encrypted messenger app in Russia. If you can’t beat it, join it In the bill, the State Duma deputies reportedly argued that Telegram has become an “official service” used by state authorities to raise awareness about the measures…