Investorideas.com breaking Bitcoin, blockchain and crypto stock news

Wednesday, June 3, 2020

#CryptoCorner: #Bitcoin Cracks $10K Only to Suddenly Drop $800, HIVE (TSXV: $HIVE.V) Announces New Agreements and Nike (NYSE: $NKE) Partners with Plutus for #Crypto Rewards on Purchases




#CryptoCorner: #Bitcoin Cracks $10K Only to Suddenly Drop $800, HIVE (TSXV: $HIVE.V) Announces New Agreements and Nike (NYSE: $NKE) Partners with Plutus for #Crypto Rewards on Purchases


Point Roberts, WA, Delta BC June 3, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

Listen to today’s Crypto Corner Podcast:  



Stocks discussed: (TSXV:HIVE) (NYSE:NKE)

Toward the end of Monday, Bitcoin (BTC) rocketed from a trading price of about $9,600 – where it had oscillated around for the several preceding days – to a peak of roughly $10,100, according to data from CoinMarketCap. This marked the first time the cryptocurrency had traded above $10,000 since February 19 of this year. This rally fizzled out suddenly, however, with a drop of over $800 (6.5 percent on the day) in a space of five minutes yesterday, according to CoinDesk. An excerpt reads:

The sudden price drop may have trapped many traders on the wrong side of the market. Moreover, the market was looking strong following Monday’s convincing move above $10,000, and a few analysts were expecting bitcoin to continue rising toward $11,000.

However, buyers once again failed to keep prices above the $10,000 mark. The cryptocurrency has struggled multiple times over the past 12 months or so to establish a strong base above $10,000. The retreat, however, is unlikely to deter investors, who believe in bitcoin’s long-term value as a safe haven asset and a hedge against inflation.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has entered into new agreements for hosting and management of its GPU-based high performance computing equipment in Iceland. These are projected to lower the company’s monthly facilities and operations costs by 50 percent. Frank Holmes, Interim Executive Chairman of HIVE, said:

"Our assumption of direct control of our operations in Iceland , and these new hosting and management agreements, are expected to significantly lower our cost to mine Ethereum or other digital currencies, and improve mining performance from our GPUs, thereby increasing our gross mining margins in Iceland. Further, we now have full control of our operations and destiny globally. This is an important step in our approximately 18-month process to increase transparency, accountability and profitability across our mining operations. We wish to thank Genesis Mining for their assistance in our transition processes in Iceland and in Sweden last fall, and we look forward to providing value to them as a HIVE shareholder along with our other shareholders."

Online magazine EU-Startups reports that London-based fintech startup Plutus has announced an affiliate partnership with Nike (NYSE:NKE), which will allow buyers of Nike products to earn three percent crypto back on their purchase. Danial Daychopan, founder of Plutus, explained:

“We recognised the importance of cryptocurrencies early on, and, in particular, honed in on the retail adoption struggles of the nascent asset and payments class. The aim was to circumvent the need for retail acceptance by integrating cryptocurrencies with our traditional legacy infrastructures to make them spendable anywhere immediately.”
Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining  the AI Eye .

The Investorideas.com podcasts are also available on iTunes,  Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Follow us on Twitter https://twitter.com/Investorideas
Download our Mobile App for iPhone and Android  


Contact Investorideas.com
800-665-0411



Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 











No comments:

Post a Comment

#CryptoCorner Episode 420: Pundi X Adds PayPal (NASDAQ: $PYPL) Support to POS Device, BIGG (CSE: $BIGG.C) Launches BCH on QLUE Product and DMG (TSXV: $DMGI.V) Installs and Energizes 1,000 Miners

    #CryptoCorner Episode 420: Pundi X Adds PayPal (NASDAQ: $PYPL) Support to POS Device, BIGG (CSE: $BIGG.C) Launches BCH on QLUE P...