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Author: Rachel Lourdesamy

Bitfinex Analysts Say Bitcoin Correction Deepens, But Signs Point to a Nearing Floor

Bitcoin has declined more than 13% from its record high of US$123,640 (AU$188,620) reached in August, slipping below US$110,000 (AU$167,940) and touching US$108,969 (AU$166,280).  Analysts at Bitfinex warn that the cryptocurrency could test a cyclical floor in the US$93,000–US$95,000 (AU$141,983–AU$145,037) range, which they identify as likely to provide strong support before a potential rebound in

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JPMorgan Commits US$500M to AI Hedge Fund Numerai, Doubling Crypto-Friendly Manager’s Assets

Crowdsourced hedge fund Numerai has secured a pledge worth US$500 million (AU$765 million) from JPMorgan Asset Management, more than doubling its existing assets under management of US$450 million (AU$688 million). The fund, which combines crowdsourcing, artificial intelligence, and blockchain-based trading models, said the new allocation would be deployed gradually over the coming twelve months. …

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