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<ul><li>More than 51 per cent of the total <keyword id="6354947" type="General" weightage="100" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> trading volume on various <keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">crypto</keyword> exchanges this year is fake.</li><li>According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading.</li><li>According to the report, faking trading volume can be a way for exchanges to attract new customers.</li></ul>More than 51 per cent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed. Bitcoin is the blue chip of cryptocurrency and represents 40 per cent of the total crypto assets outstanding in the new and volatile crypto markets. Its market cap is currently at 382.25 billion. According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading. Wash trading is illegal, where an asset is bought and sold simultaneously on the same platform to create false liquidity. This is often done by bots or spoofing orders. "It's difficult to talk about cryptocurrency without talking about Bitcoin. Yet, there is a concern that a large part of the daily traded volume of Bitcoin is fake. This puts into question the legitimacy of exchanges and the reliability of data," said Jonathan Merry, CEO of BanklessTimes. Another factor contributing to the fake volume is stablecoins such as Tether (USDT).A Tether pairs very well with Bitcoin and is often used to buy and sell Bitcoin on exchanges. "This results in much volume being generated without any actual Bitcoin changing hands," said the report. According to the report, faking trading volume can be a way for exchanges to attract new customers. By appearing to be more popular than they actually are, exchanges can trick investors into thinking there is more activity and liquidity on their platform. Another reason people might engage in wash trading is to prop up the price of a particular asset, according to the report. By buying and selling the asset simultaneously, they can create the illusion of demand and drive up the price. This can be done for personal gain or artificially inflate an asset's price before selling it. "Investors should be wary of exchanges that report false figures. You must do your research and only use exchanges you trust," the report suggested. SEE ALSO: <a href="https://www.businessinsider.in/business/news/whatapp-business-gives-a-new-lease-of-life-to-solopreneurs-across-india-and-bharat/articleshow/94673370.cms">WhatsApp Business gives a new lease of life to solopreneurs across India and Bharat</a> <a href="https://www.businessinsider.in/business/news/indias-service-sector-activity-falls-to-6-month-low-in-sep-amid-inflation-competition-pmi/articleshow/94675187.cms">India's service sector activity falls to 6-month low in Sep amid inflation, competition: PMI</a>

More than half of Bitcoin volume on crypto exchanges fake: Report

<ul class="summary-list"><li>Bitcoin and gold have both been hitting new record highs.</li><li>The cryptocurrency is surging following SEC approval of spot ETFs and a looming "halving" event.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> and <a href="https://markets.businessinsider.com/commodities/gold-price">gold</a> are moving in tandem right now, and both the digital currency and the precious metal hit new record highs last week.Those gains have come during a relatively muted period for stocks, with the benchmark <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> index up just 3% over the past month as investors try to figure out <a href="https://www.businessinsider.com/recession-outlook-jamie-dimon-jpmorgan-us-economy-interest-rates-cut-2024-3">the Federal Reserve's next move on interest rates</a>.Gold and what some call its <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-digital-gold-crypto-crash-volatility-ftx-sbf-2023-8">digital equivalent</a> are benefiting in different ways from an <a href="https://www.businessinsider.com/goldilocks-economy-interest-rate-cuts-federal-reserve-2024-2">unusual macroeconomic environment</a> where inflation and interest rates remain a top priority for the market, analysts say."I think it's a coincidence, really — gold attracts certain people, and bitcoin attracts other investors," Kathleen Brooks, research director at the online brokerage firm XTB, told Business Insider. "But these alternative asset classes are kind of where it's at.""Several factors have driven the two of them to new records, but it's really a quirk of the macro backdrop that they're both rising at the same time."<h2>Bitcoin blitz</h2>After a rough couple of years, bitcoin has kicked off 2024 on a tear. The token is trading above $73,000 and is up almost 75% since January 1, per a <a href="https://www.marketwatch.com/investing/cryptocurrency/btcusd" target="_blank" rel="noopener">CoinDesk index</a> that tracks its price.That surge has powered it <a href="https://markets.businessinsider.com/news/currencies/bitcoin-halving-event-price-impact-record-high-above-72000-btc-2024-3#:~:text=Bitcoin%20hit%20a%20new%20record,near%2D80%25%20price%20decline.">past its previous high of about $69,000</a> set in November 2021 at the height of the last crypto bubble:In January, the Securities and Exchange Commission fired the starting gun on bitcoin's stellar rally by approving <a href="https://markets.businessinsider.com/news/currencies/spot-bitcoin-etf-crypto-investing-analysis-sec-approval-gary-gensler-2024-1">11 spot ETFs</a>, which allowed a flurry of institutional investors to pile into crypto for the first time.More recently, investor excitement has been building about an upcoming "<a href="https://markets.businessinsider.com/news/currencies/bitcoin-halving-event-cryptocurrency-new-all-time-high-halvening-explained-2024-3">halving event</a>" that's expected to take place in April. That will slash the reward for mining new blocks by half, which in the past has boosted bitcoin's price by making supply scarcer."Spreading into the ETF space was massive for bitcoin," Brooks said. "Past halvings have gone unnoticed — but that hasn't happened this time, because bitcoin is so much more mainstream, and that should help keep up demand."<h2>Golden run </h2>Gold's early 2024 run has been more subtle — but that's a given when you're dealing with an asset that investors tend to see as a "safe haven" defined by its low volatility.The precious metal dipped slightly on Tuesday but is still up about 4.5% year-to-date at $2,159 per Troy ounce. That's above the previous record high of about $2,140 reached in December:Central banks from countries including <a href="https://www.gold.org/goldhub/gold-focus/2024/03/central-banks-accumulate-more-gold-january-starting-2024-they-mean-go" target="_blank" rel="noopener">China, Turkey, and India</a> have all been on a gold-buying spree in recent months, helping to squeeze its price higher.It appears they're loading up to diversify their reserves, with other major holdings such as <a href="https://markets.businessinsider.com/index/us-dollar-index">the US dollar</a> tumbling as traders prepare for the Fed to start cutting interest rates."Gold is very much driven by central banks, without question or doubt," Marc Ostwald, chief economist for ADM Investor Services International, told BI."They feel uncomfortable with the fact that they've got too much in the way of dollars in their portfolios. There aren't many other alternatives, but gold is one of them."Analysts also believe that gold's strong recent run has underlined its status as a haven for investors, with the wars in Ukraine and Gaza dragging on and <a href="https://www.businessinsider.com/inflation-cpi-consumer-price-index-food-gas-housing-prices-february-2024-3">stickier-than-expected inflation</a> still fueling market jitters.Bitcoin and gold are two of the hottest assets on the market right now — just for very different reasons.

Bitcoin and gold are both on fire right now — but for very different reasons

<ul class="summary-list"><li>US stock futures were stable Tuesday as investors assessed market prospects following recent gains.</li><li>Chinese stocks gained amid reports Beijing is considering special measures to support the market.</li></ul>US stock futures were steady in Tuesday's early trading as investors awaited fresh cues on market sentiment after the S&amp;P 500 index hit a fresh record high on Monday.Airline stocks led premarket gains among S&amp;P 500 names, while Veralto, Invesco, and Philip Morris were among notable decliners.Chinese and Hong Kong shares rebounded, paring some of recent declines, following media reports that Beijing is looking at special measures to support the local market.In crypto, bitcoin extended declines below the $40,000 level. Crude oil prices slipped, while the dollar was little changed.<h2>Market overview</h2><ul><li><a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures?utm_medium=ingest&amp;utm_source=markets" rel="">Futures on the S&amp;P 500</a> index were unchanged at 4,881 points as of 5:10 a.m. ET, while <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures?utm_medium=ingest&amp;utm_source=markets" rel="">similar contracts on the Nasdaq 100</a> were at 17,459.</li><li>European stocks were in defensive mode, with the Euro Stoxx 50 slipping 0.3%. Germany's DAX 40 index was little changed and France's CAC 40 retreated 0.2%.</li><li>In Asia, Hong Kong's Hang Seng rallied 2.6% and the Shanghai Composite rose 0.5%. Japan's Nikkei 225 was almost flat at 36,517 and India's Nifty 50 dropped 1.5%.</li><li>In the crypto market, <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets" rel="">bitcoin</a> slid 1.7% to $38,870, taking losses in January to more than 8%. Ether slid almost 4% to $2,221.</li><li>The Dollar Index, which tracks the greenback against a basket of currencies, moved in tight ranges.</li><li>Ten-year Treasury yields were little changed at 4.13%. US crude oil declined 0.6% to $74.28 a barrel.</li></ul>

Stock market today: US futures hold steady, but bitcoin falls under $40,000

<ul class="summary-list"><li>The S&amp;P 500 is up more than 5.3% in 2024, and hovered near 5,000 Thursday at the open.</li><li>Two-thirds of S&amp;P 500 companies have reported earnings, with most beating Wall Street expectations.</li></ul>US stocks traded mixed at the open Thursday, and the S&amp;P 500 <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-sp500-record-fed-comments-rate-cut-outlook-2024-2">continued to hover</a> at 5,000, a key psychological threshold and milestone for the benchmark index. Major indexes are coming off a positive session on Wednesday, with investors taking in strong earnings so far. "The 5,000 mark on the S&amp;P 500 is an important milestone for the markets, and not just because it's a round number, but because the upward direction of the S&amp;P 500, especially after two years of significant swings, reflects the confidence that investors have in corporate America's earnings power and the strength of the economy," said George Ball, chairman of investment firm Sanders Morris.Notably, <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-disney-bob-iger-fortnite-taylor-swift-2024-2">Disney stock jumped 8% early Thursday</a> following its strong earnings and <a href="https://www.businessinsider.com/bob-iger-disney-strong-earnings-taylor-swift-espn-streaming-fortnite-2024-2">outlook for the fiscal year ahead</a>. Chief executive Bob Iger announced Wednesday key partnerships with Epic Games and Taylor Swift, as well as new details on a sports streaming platform. Those updates arrive amid his battle with activist shareholders led by Nelson Peltz. Meanwhile, on Wednesday Fed Governor Adriana Kugler said it would be appropriate for the central bank to cut interest rates "at some point," depending on the trajectory of inflation and the labor market. Boston Fed President Susan Collins, too, noted that rate cuts are likely down the line in 2024."Seeing sustained, broadening signs of progress should provide the necessary confidence I would need to begin a methodical adjustment to our policy stance," Collins said in comments delivered at the Boston Economic Club.Richmond Fed president Tom Barkin will deliver further remarks Thursday.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,993.08, down 0.04% </li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,753.99, up 0.2% (+76.63 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 15,753.60, down 0.02% </li></ul>Here's what else is going on: <ul><li>Gary Shilling said the S&amp;P 500 may crash 30% and <a href="https://markets.businessinsider.com/news/stocks/gary-shilling-stock-market-outlook-crash-spx-recession-bitcoin-ai-2024-2">a recession could strike</a>. </li><li>BMO said fears that <a href="https://markets.businessinsider.com/news/stocks/mega-cap-tech-concentration-stock-market-risks-overblown-bmo-belski-2024-2">mega-cap tech dominance</a> will hurt the market are overblown.</li><li>The IEA said India will be the <a href="https://markets.businessinsider.com/news/commodities/india-china-oil-market-outlook-supply-demand-economy-crash-iea-2024-2">largest source of oil-demand growth</a> over the next seven years.</li><li>Cyber gangs got away with a record <a href="https://markets.businessinsider.com/news/currencies/crypto-cyber-crimes-ransom-payments-record-hacks-ransomware-2023-2024-2">$1.1 billion in crypto ransom payments</a> last year.</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices climbed, with<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti"> West Texas Intermediate</a> crude up 1.31% to $74.81 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, moved up 1.36% to $80.23 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> edged lower 0.68% to $2,037.70 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets"> 10-year yield</a> moved higher 4 basis points to hover at 4.146%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> climbed 2.28% to $45,124.</li></ul>

US stocks trade mixed as S&P 500 hovers near 5,000

<ul class="summary-list"><li>US stocks traded mixed after key indicators sent mixed signals about the economy.</li><li>Core inflation dipped below 3%, coming in cool, but consumer spending rose 0.7%.</li></ul>US stocks wavered on Friday after two key indicators sent mixed signals about the economy.Major indexes were mixed as investors took in spending data and the latest measure of inflation. Personal Consumption Expenditure data, the Fed's preferred gauge, showed cored inflation rose 2.9% last month, the slowest pace in almost three years. Meanwhile, consumer spending ramped up by 0.7% as Americans capped the holiday season by splurging an extra $133.9 billion in personal expenditures in December. The data is a mixed bag, showing that inflation is falling but high interest rates from the Fed haven't done much to curb strong consumer demand, which could be an input for inflation to remain elevated. Intel's earnings disappointed investors, with the stock falling nearly 12% and pulling the Nasdaq index lower. The chipmaker's fourth-quarter results beat estimates but let investors down with weak guidance for the current quarter. Yields on the two-year and 10-year Treasury ticked up, to 4.35% and 4.14% respectively."Markets are slightly bearish today as last month's pace of consumer spending data flew past projections, which contributed to yesterday's big beat on GDP," José Torres, senior economist at Interactive Brokers, said. "While this morning's inflation data generally matched estimates, bond traders are demanding more compensation because of strong consumer spending that has elevated the risks of additional price pressures."Here's where US indexes stood shortly after the 4:00 p.m. closing bell on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">S&amp;P 500</a>: 4,890.97, down 0.07% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Dow Jones Industrial Average</a>: 38,109.43, up 0.16% (+60.30 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Nasdaq Composite</a>: 15,455.36, down 0.36% </li></ul>Here's what else is going on:<ul><li>The Fed's lack of innovation with the dollar means China, India, and others <a href="https://markets.businessinsider.com/news/currencies/dollar-dominance-outlook-china-india-digital-currency-race-fed-innovation-2024-1?mrfhud=true">will dominate the digital currency race</a>.</li><li>These are <a href="https://markets.businessinsider.com/news/stocks/tesla-market-value-stock-drop-ai-initiatives-wedbush-dan-ives-2024-1?mrfhud=true">3 things Tesla should do</a> after its market value shrunk $80 billion in a single day, according to Wedbush.</li><li>Boeing's embarrassing 737 Max disaster <a href="https://www.businessinsider.com/boeing-accident-737-max-flight-delay-plane-inspection-us-economy-2024-1?mrfhud=true">could hit entire US economy</a>, an aviation expert said.</li><li>The <a href="https://www.businessinsider.com/housing-market-outlook-home-sales-inventory-mortgage-rates-real-estate-2024-1?mrfhud=true">US housing market is showing renewed signs of life</a> as 2024 begins as pending home sales jump 8.3%.</li><li>The AI hype is a <a href="https://markets.businessinsider.com/news/stocks/ai-stocks-hype-nvidia-tech-bubble-market-dotcom-era-bust-2024-1?mrfhud=true">'classic example of a big market delusion,</a>' just like the dotcom era, investing pioneer Rob Arnott said.</li><li>There are <a href="https://www.businessinsider.com/us-economy-recession-outlook-consumer-spending-inflation-growth-el-erian-2024-1?mrfhud=true">3 reasons the US economy's strength right now is a head-fake,</a> according to Mohamed El-Erian.</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices rose, with<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel=""> West Texas Intermediate</a> up 0.98% to $78.12 a barrel.<a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel=""> Brent crude</a>, the international benchmark, climbed up by 1.52% to $83.68 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Gold</a> was up 0.01% to $2,018 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel=""> 10-year Treasury yield</a> edged up to 4.141%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Bitcoin</a> jumped 5.2% to $41,907.</li></ul>

US stocks trade mixed as Intel falls and key economic data confuses investors

<ul class="summary-list"><li><keyword id="657946" type="PERSON" weightage="60" keywordseo="Millennials">Millennials</keyword> in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> are driving the country's <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword>, <a href="https://www.bloomberg.com/news/articles/2021-03-23/millions-of-millennials-are-piling-into-india-s-stock-market">Bloomberg reported</a>.</li><li>They are likelier to take risks than their elders, departing from the asset investments typical in India.</li><li>Worldwide, young investors are shifting investing trends - and economies along with them.</li></ul>Millennials in India might be changing the country's stock market. Driven by quarantine boredom, many 20- and 30-something Indians have turned to stock trading during the pandemic, <a href="https://www.bloomberg.com/news/articles/2021-03-23/millions-of-millennials-are-piling-into-india-s-stock-market">reported Bloomberg</a>. The stock market rally and rise of trading apps and social media has lured these young investors, Bloomberg wrote, many of whom are <keyword id="176171" type="PERSON" weightage="60" keywordseo="day-trading">day trading</keyword> for the first time.The influx of young investors is a similar story around the world, but an especially positive sign for India's economic development, as active investor accounts increased to a record 10.4 million in 2020. Only 3.7% of the country's 1.36 billion people invest in equities, per Bloomberg, compared to 12.7% in China and 55% in the US."India could easily equal China's market cap in the next five to 10 years because going forward, growth in India's market will probably be faster," emerging-market investor Mark Mobius told Bloomberg. "China, because of its size, will probably grow more slowly."It also signals that internet adoption is extending to areas of the country beyond the big cities of Mumbai and New Delhi. Securities firm Angel Broking told Bloomberg that more than 50% of its new customers in its fourth quarter were from "smaller cities and towns."Indian millennials are more likely to take market risks, a departure from other investors' traditional investments in bank deposits and physical assets like real estate and gold, the latter of which served as an "insurance policy and a retirement plan in a country that lacks robust social welfare systems or widespread access to formal credit," Bloomberg wrote.This appetite for risk-taking is common in other <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword>' experience of millennial investing, though, pointing to a more volatile <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> as younger participants join the stock market.<h2>Millennials are driving big investing trends</h2>Worldwide, the bored and young fueled a <a href="https://www.businessinsider.com/millennials-gen-z-pandemic-investments-spending-toys-vintage-clothes-animals-2020-12">big shift in investing</a> in 2020.<keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> was buzzing, <a href="https://www.businessinsider.com/bitcoin-an-all-time-high-still-uncertain-investment-millennials-2020-12">surpassing its previous peak</a> from December 2017, a year when it had <a href="https://www.businessinsider.com/bitcoin-price-in-2017-review-2017-12">a "wild run</a>," rising by more than 1,300% and <a href="https://www.businessinsider.com/cryptocurrency-bitcoin-ethereum-ico-mania-going-mainstream-2017-8?curator=TechREDEF">going mainstream</a> before tumbling the next year as it and other <a href="https://www.businessinsider.com/bitcoin-price-cryptocurrencies-ether-litecoin-bitcoin-cash-2018-9">cryptocurrencies slumped</a>. But <a href="https://markets.businessinsider.com/currencies/news/bitcoin-surges-past-15000-hits-highest-level-in-two-years-2020-11-1029772298">substantial millennial interest</a> brought the hype alive again. <a href="https://markets.businessinsider.com/currencies/news/world-biggest-crypto-fund-manager-michael-sonnenshein-bitcoin-money-evolution-2020-11-1029826836">The conditions of the pandemic</a> and resulting search for <a href="https://www.coindesk.com/dbs-bitcoin-crypto-pandemic">an investing hedge</a> against potential inflation, more widespread availability on <a href="https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency">PayPal</a> and<a href="https://cash.app/help/us/en-us/1016-bitcoin"> Square</a>, and new Wall Street regulators, could be contributing to its rally.Stock-trading startup <keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> also saw explosive growth during the pandemic thanks to a new generation of novice traders flocking to the stock, options, and cryptocurrency platform, <a href="https://www.businessinsider.com/robinhood-ipo-soliciting-advisers-2021-bloomberg-report-2020-11">Insider's Graham Rapier reported</a>. The free-trading investing app, whose <a href="https://www.npr.org/2020/08/11/895054084/millions-turn-to-stock-trading-during-pandemic-but-some-see-trouble-for-the-youn">average user</a> is 33 years old, <a href="https://www.businessinsider.com/what-founders-can-learn-from-robinhoods-success-trap-profits-mission-2020-7">added 3 million users</a> to its current total of 13 million this year alone. The company even raised <a href="https://www.nytimes.com/live/2020/08/17/business/stock-market-today-coronavirus">$200 million in funding</a> in December.But the boom hasn't been entirely positive: It's <a href="https://www.businessinsider.com/robinhood-hackers-accessed-2000-trading-accounts-bloomberg-2020-10">triggered outages and angry customers</a>, and amateur traders have <a href="https://www.businessinsider.com/what-founders-can-learn-from-robinhoods-success-trap-profits-mission-2020-7">lost thousands of dollars</a> through high-volume day trades.More recently, a group of day-trading Redditors from The WallStreetBets forum used the platform to incite <a href="https://www.businessinsider.com/whats-a-day-trader-retail-gamestop-reddit-change-wall-street-2021-1">frenzied trading in the shares of GameStop</a> in response to hedge funds "shorting" the stock. Their trades sent <keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> soaring, causing <a href="https://markets.businessinsider.com/news/stocks/short-sellers-sitting-on-19-billion-of-losses-on-gamestop-data-shows-2021-1-1030020684">an estimated $19 billion</a> of losses for short sellers in the company as of January 29.As the young come into both money and access to day trading, their investment trends are ultimately shaping economies across the globe, from the US to India.

Indian millennials are taking to the stock market, as the bored and young start driving markets worldwide

The Supreme Court of India has struck down a ban on banks dealing with cryptocurrencies in India, paving the way for users to start trading with renewed vigour in cryptocurrencies. While there was no ban on cryptocurrencies, the Reserve Bank of India in 2018 put a ban on banks from dealing with virtual currencies like Bitcoin. The central bank also asked banks to exit all existing relationships with cryptocurrency exchanges. Now that this roadblock too <a href="https://www.businessinsider.in/cryptocurrency-trading-can-restart-in-india-after-top-court-removes-rbi-ban-calling-it-unconstitutional/articleshow/74470872.cms">has been cleared</a>, here is how you can gain from the move. What is a cryptocurrency? Cryptocurrency is a virtual currency that can be exchanged online for goods and services. Cryptography is used to secure and verify the transactions. Unlike traditional currencies, cryptocurrencies are not issued by a central bank and depend on a peer-to-peer system. How to open a <keyword id="8871185" type="UNKNOWN" weightage="20" keywordseo="crypto-trading-account">crypto trading account</keyword> in India? There are several cryptocurrency exchanges from where you can buy and sell cryptocurrencies like Zebpay, Unocoin, Coinmama and more. Today, we will show you how to use Zebpay to buy and sell cryptocurrencies in India. Zebpay allows you to purchase various virtual currencies and store them. How to use Zebpay to buy and sell cryptocurrency <div type="image" title="Zebpay" msid="74490879" hostid="261"></div>

 <ul><li>Download and install the Zebpay app for <a href="https://play.google.com/store/apps/details?id=zebpay.Application">Android</a> and <a href="https://apps.apple.com/in/app/zebpay-bitcoin-wallet/id944854686">iOS</a>. </li><li>Open the app and click on ‘Let’s go’ at the top. </li><li>Enter your phone number and click on ‘Proceed securely’. </li><li>Now, click on ‘Continue to Set Account PIN’.</li></ul> <div type="image" title="Zebpay" msid="74490890" hostid="261"></div>

 <ul><li>Now, enter a four-digit PIN. </li><li>Re-enter the four-digit PIN. </li><li>Once you have set the PIN, you can opt to use the fingerprint sensor. </li></ul><div type="image" title="Zebpay" msid="74490905" hostid="261"></div>

 <ul><li>Now, click on ‘Verify Email Address’. </li><li>Enter your name and email address. </li><li>Go to your mail and verify your account.</li></ul> <div type="image" title="Zebpay" msid="74490918" hostid="261"></div>

 Now you will be asked to provide your ID proof and address proof. <ul><li>Click on ‘Continue’. </li><li>For ID proof, you can submit your PAN card. </li><li>Upload the front of your PAN card and click on ‘Continue. </li></ul> <div type="image" title="Zebpay" msid="74490925" hostid="261"></div>

 <ul><li>For address proof, you can submit your Aadhaar card, driving license, passport or a utility bill dated within the last three months. </li><li>Select an address proof and upload it. </li><li>Click on ‘Continue’. </li><li>Now, select your source of funds and occupation. </li><li>Then, click on ‘Continue’. </li></ul>Once your KYC details are verified, you can start trading in cryptocurrency. <div type="image" title="Zebpay" msid="74490953" hostid="261"></div>

 Here are the cryptocurrencies available on Zebpay. <div type="image" title="Zebpay" msid="74490930" hostid="261"></div>
 You can select from the available currencies, enter the amount and click on ‘Buy’. See also: <a href="https://www.businessinsider.in/cryptocurrency-trading-can-restart-in-india-after-top-court-removes-rbi-ban-calling-it-unconstitutional/articleshow/74470872.cms">Cryptocurrency trading can restart in India after top court removes RBI ban calling it 'unconstitutional'</a> <a href="https://www.businessinsider.in/business/startups/news/crypto-community-in-india-is-rejoicing-exchanges-are-ready-to-reopen/articleshow/74472080.cms">Crypto community in India is rejoicing ⁠— exchanges are ready to reopen</a> <a href="https://www.businessinsider.in/business/news/indias-crypto-market-was-worth-12-9-billion-in-2017-before-it-incurred-the-rbis-wrath/articleshow/74474034.cms">India’s crypto market was worth $12.9 billion in 2017 before it incurred the RBI's wrath</a>

How to open a cryptocurrency trading account in India

<ul class="summary-list"><li>Stocks fell on Friday after the NY Fed's president said the central bank isn't discussing rate cuts right now.</li><li>That comes after policymakers on Wednesday signaled three rate cuts in 2024.</li></ul>US stocks traded mixed on Friday after New York Federal Reserve President John Williams said the central bank was not currently discussing rate cuts."We aren't really talking about rate cuts right now," he said in a <a href="https://www.cnbc.com/2023/12/15/feds-john-williams-says-the-central-bank-isnt-really-talking-about-rate-cuts-right-now.html" target="_blank" rel="noopener">CNBC interview</a>. "We're very focused on the question in front of us, which as chair Powell said, the question is, have we gotten monetary policy to sufficiently restrictive stance in order to ensure the inflation comes back down to 2%? That's the question in front of us."That put a damper on the flurry of optimism following Fed Chair Jerome Powell's dovish comments on Wednesday, when policymakers also signaled three rate cuts in 2024.Despite Williams' hawkish remarks, stocks are on track for weekly gains, with the Dow eyeing a ninth consecutive weekly advance and the S&amp;P 500 on pace for a seventh straight win.Here's where US indexes stood as the market opened at 9:30 a.m. on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">S&amp;P 500</a>: 4,709.14, down 0.22%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Dow Jones Industrial Average</a>: 37,178.88, down 0.19% (69.47 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Nasdaq Composite</a>: 14,786.19, up 0.17%</li></ul>Here's what else is going on: <ul><li>The Fed's rate-cut signals <a href="https://www.businessinsider.com/federal-reserve-powell-interest-rate-cut-signal-prompt-inflation-economy-2023-12?miRedirects=1">could prompt a fresh bout of inflation,</a> economists said.</li><li>The S&amp;P 500 is <a href="https://markets.businessinsider.com/news/stocks/spx-stock-market-federal-reserve-interest-rates-inflation-recession-economy-2023-12">trading 8% higher today</a> than it was before the Fed started hiking rates last spring.</li><li>Analysts at Bernstein say India <a href="https://markets.businessinsider.com/news/commodities/oil-market-outlook-india-china-demand-growth-forecast-crude-prices-2023-12">is set drive global oil demand growth</a> in the next 20 years.</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices rose, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets" rel="">West Texas Intermediate</a> up 0.61% to $72.02 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Brent crude</a>, the international benchmark, moved higher by 0.52% to $77.01 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Gold</a> edged up 0.24% to $2,054.20 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel=""> 10-year Treasury yield</a> moved up 3.5 basis points to 3.965%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Bitcoin</a> fell 1.57% to $42,260.90.</li></ul>

US stocks trade mixed after Fed official pours cold water on rate-cut hopes

The <keyword id="128691" type="COMPANY" weightage="20" keywordseo="Commodity-Futures-Trading-Commission">Commodity Futures Trading Commission</keyword> (CFTC) which regulates the US derivatives markets has ordered cryptocurrency exchange platform <keyword id="1972612" type="PERSON" weightage="20" keywordseo="Coinbase">Coinbase</keyword> to pay $6.5 million to settle charges for reporting <keyword id="598220" type="UNKNOWN" weightage="20" keywordseo="misleading">misleading</keyword> data about transactions. The order requires Coinbase to also cease and desist from any further violations of the Commodity Exchange Act or CFTC regulations, as charged, CFTC said on Friday. "Reporting false, misleading, or inaccurate transaction information undermines the integrity of digital asset pricing," Vincent McGonagle, Acting Director of <keyword id="6373764" type="UNKNOWN" weightage="20" keywordseo="enforcement">Enforcement</keyword> at CFTC, said in a statement. "This enforcement action sends the message that the <keyword id="6355822" type="COMPANY" weightage="20" keywordseo="commission">Commission</keyword> will act to safeguard the integrity and transparency of such information." According to the order, between January 2015 and September 2018, Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets, including <keyword id="6354947" type="LOCATION" weightage="20" keywordseo="bitcoin">Bitcoin</keyword>, on the GDAX electronic trading platform it operated. During this period, Coinbase operated two automated trading programmes, Hedger and Replicator, which generated orders that at times matched with one another. The GDAX Trading Rules specifically disclosed that Coinbase was trading on GDAX, but failed to disclose that Coinbase was operating more than one trading programme and trading through multiple accounts, CFTC said. The order also finds that over a six-week period-August through September 2016-a former Coinbase employee used a manipulative or deceptive device by intentionally placing buy and sell orders in the Litecoin/Bitcoin trading pair on GDAX that matched each other as wash trades. This created the misleading appearance of liquidity and trading interest in Litecoin, CFTC said. According to a report in The Verge that cited a Coinbase spokesperson, the cryptocurrency exchange did not admit or deny the CFTC's charges, and had "proactively engaged with the CFTC" over the course of its investigation. SEE ALSO: <a href="https://www.businessinsider.in/thelife/article/a-4-foot-tall-humanoid-robot-called-doozy-may-just-be-the-party-symbol-for-tamil-nadus-immk-but-it-can-do-much-more-than-that/articleshow/81605666.cms">A 4-foot-tall humanoid robot called Doozy may just be the party symbol for Tamil Nadu’s IMMK, but it can do much more than that</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9r-will-be-the-companys-next-affordable-smartphone-india-launch-confirmed-for-march-23/articleshow/81586104.cms">OnePlus 9R will be the company’s next affordable smartphone, India launch confirmed for March 23</a>

Coinbase to pay $6.5 million to settle CFTC trading probe

<ul><li>Inflows to cryptocurrency investment products a new peak of $4.2 billion for the first quarter of 2021, according to <a href="https://coinshares.com/research/digital-asset-fund-flows">CoinShares</a>.</li></ul><ul><li>Year to date, <keyword id="6354947" type="General" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> has had the highest inflows at $3.3 billion.</li><li><keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum" source="Orion">Ethereum</keyword> followed with $731 million of inflows.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></li></ul>Inflows to cryptocurrency investment products reached a new high of $4.2 billion for the first quarter of 2021, according to data from digital assets investment firm <a href="https://coinshares.com/research/digital-asset-fund-flows">CoinShares</a>. The new record broke the previous quarterly high of $3.9 billion in the fourth quarter of last year, CoinShares data show. Year to date, bitcoin has seen the highest inflows at $3.3 billion. <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">Ethereum</a> followed with $731 million. Crypto assets under management, according to CoinShares, have also risen to $55.8 billion versus $37.6 billion at the end of 2020. <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest">Bitcoin</a> in March has staged another strong rally after an already impressive February, soaring to $61,742 on March 13. It has so far breached the $1 trillion market capitalization mark three times this year. The uptrend builds on the token's big wins in February, when it garnered support from heavyweight <a href="https://markets.businessinsider.com/currencies/news/bitcoin-btc-price-profit-taking-india-regulation-record-high-ether-2021-3-1030204745">companies</a> such as Tesla and Mastercard. Bitcoin however has since consolidated its gains, partly in response to profit taking, but also as a reaction to India announcing it was mulling a law that would <a href="https://markets.businessinsider.com/currencies/news/bitcoin-btc-price-profit-taking-india-regulation-record-high-ether-2021-3-1030204745">ban cryptocurrencies</a> on Monday. "Looking at the bigger picture, last weekend's break above its previous high was a(nother) positive sign in the long run-up of [bitcoin] and a confirmation of the current uptrend," Julius de Kempenaer, senior technical analyst at <a href="http://stockcharts.com/">StockCharts.com</a> told Insider. He also said he sees the $52,000-level as the support and the $61,700-level as the resistance. "The rhythm of higher highs and higher lows that is tracing out since the start of this year is still intact... As long as this support level and the rising trend line hold up, things continue to look good for [bitcoin]." Inflows from <a href="https://markets.businessinsider.com/currencies/news/retail-traders-surpassed-wall-street-q1-bitcoin-buying-jpmorgan-2021-3-1030215968">retail traders have overtaken institutional investment </a>this quarter, according to data published by JPMorgan strategists, proving the rising levels of interest from retail traders, most of whom are younger, more aggressive, and use mobile trading apps such as Robinhood. In the same period, institutions bought 173,000 <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">bitcoins</a>, lower than the nearly 307,000 bought last quarter, compared to the 187,000 bitcoins bought by retail investors. JPMorgan tracked bitcoin futures, fund flows, and company announcements to gather this data.

You Searched For "bitcoin trading in India" and got 10 results

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