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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Crypto Funds Snap 6 Weeks of Outflows as Markets Rally: Crypto funds saw $21 million of net inflows last week as digital-asset markets rallied, pushing the total assets under management (AUM) to $57.3 billion, the highest since May, a new report shows.
The latest data reflected a reversal after six consecutive weeks of outflows, according to thereportMonday by digital-asset manager CoinShares.
Funds focused on Solana’s SOL token saw the largest inflow among all digital assets, at $7.1 million last week, the report shows. The token hit an all-time high of $82 on Saturday, according to Messari.
Related:Bitcoin Struggles at Resistance; Support Near $48K
Investors redeemed $2.8 million frombitcoin-focused funds last week, the seventh consecutive week of outflows, despite the largest cryptocurrency’s price upturn. The run matched the streak of outflows recorded in early 2018, the report noted. That was just before the “crypto winter,” when cryptocurrency prices tanked and failed to return to all-time highs for more than two years.
Crypto funds focused onethereumnetted $3.2 million of inflows last week.
Funds focused on Cardano’sADAtoken saw net inflows of $6.4 million, whilelitecoinfunds brought in $1.8 million andpolkadotfunds netted $1.1 million.
• Blockchain Startup Infstones Raises $10M in Series A Round
• The 3 Reasons Why Bitcoin’s Ascent May Slow
• Ethereum’s Most Popular Software Client Issues Hotfix to High Severity Bug || Bitfarms Provides Bitcoin Production Update and Announces Release Date of Second Quarter 2021 Financial Results: TORONTO, Ontario and BROSSARD, Québec, Aug. 05, 2021 (GLOBE NEWSWIRE) --Bitfarms Ltd.(“Bitfarms”, or the “Company”) (NASDAQ: BITF // TSXV: BITF), a publicly traded Bitcoin mining company, currently powering approximately 1.5% of the Bitcoin network with greater than 99% green hydroelectricity, today announces a Bitcoin production update and the announcement date of its second quarter 2021 financial results.
Mining Production Highlights as of August 1, 2021
• Mined 391 new Bitcoin during July 2021, Bitfarms’ largest monthly production rate achieved in 2021 and approximately 96% more than its mining production in January 2021. The Company is currently mining between 12½ and 13½ Bitcoin each day.
• Mined 1,748 Bitcoin in the first seven months of 2021, the largest number of Bitcoin mined in North America as reported by publicly traded miners.
• Deposited 1,678 Bitcoin into custody through August 1, 2021, representing approximately 96% of the Company’s Bitcoin production this year and valued at approximately US$69.8 million based on the July 31stclosing price of US$41,626.
Bitcoin Production Update
As of August, 1, 2021, Bitfarms’ year-to-date Bitcoin (“BTC”) production by month was:
[{"Month": "January", "BTC": "199", "": ""}, {"Month": "February", "BTC": "178", "": ""}, {"Month": "March", "BTC": "221", "": ""}, {"Month": "April", "BTC": "232", "": ""}, {"Month": "May", "BTC": "262", "": ""}, {"Month": "June", "BTC": "265", "": ""}, {"Month": "July", "BTC": "391", "": ""}]
As previously noted, recent macroeconomic events in China have increased Bitfarms’ market share and daily Bitcoin production rate substantially. This increase in market share offsets the reduction in Bitcoin price from a high of approximately US$63,000 in April 2021 to its July 2021 month-end value of US$41,626. In addition, these recent developments:
1. Position the Company to accumulate more Bitcoin on its balance sheet than previously anticipated,
2. Reduce the Company’s average cost to produce each Bitcoin in light of the fixed nature of the majority of its operating costs, and
3. Lower capital requirements by enabling the Company to negotiate substantial price reductions on its existing hardware purchase agreements for the 55,300 miners scheduled for delivery through the remainder of 2021 and 2022 towards its goal of reaching 8 Exahash of computing power by year-end 2022.
“We are proud to have added 96% of our 2021 year-to-date Bitcoin mined to our long-term inventory program,” commented Emiliano Grodzki, Bitfarms Founder and Chief Executive Officer. “As we work to execute on our growth targets, we anticipate adding more Bitcoins to our balance sheet at a faster rate than we have in the first half of 2021,” added Mr. Grodzki.
Second Quarter 2021 Financial Results
The Company also announces that it will report its second quarter 2021 financial results on Monday, August 16, 2021, after the market close.
Management will host a conference call on Monday, August 16, 2021, at 5:30 p.m. ET to review financial results. Following management’s formal remarks there will be a question-and-answer session where management will address questions. Interested parties may submit questions in advance for management’s consideration at [email protected] through August 12, 2021.
Conference call access
The conference call will be available through a live webcast found here:https://services.choruscall.com/mediaframe/webcast.html?webcastid=ksgqlgVN
Participants are asked to pre-register for the call through the following link:https://dpregister.com/sreg/10159337/ec19bc7656
Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.
Those without internet access or unable to pre-register may dial in by calling: 1-866-777-2509 (domestic), 1-412-317-5413 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Bitfarms call.
A webcast replay of the call will be available approximately one hour after the end of the call through November 15, 2021, at the above webcast link.
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a Bitcoin mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver high operational performance and uptime.
Having demonstrated rapid growth and stellar operations, Bitfarms became the first Bitcoin mining company to complete its long form prospectus with the Ontario Securities Commission and started trading on the TSX-V in July 2019. On February 24, 2021, Bitfarms was honoured to be announced as a Rising Star by the TSX-V. On June 21, 2021, Bitfarms started trading on the Nasdaq Stock Market.
Bitfarms has a diversified production platform with five industrial scale facilities located in Québec. Each facility is over 99% powered with environmentally friendly hydro power and secured with long-term power contracts. Bitfarms is currently the only publicly traded pure-play mining company audited by a Big Four audit firm.
To learn more about Bitfarms’ events, developments, and online communities:
Website:www.bitfarms.com
https://www.facebook.com/bitfarms/https://twitter.com/Bitfarms_iohttps://www.instagram.com/bitfarms/https://www.linkedin.com/company/bitfarms/
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release. The information in this release regarding expectations in respect to its future rate of Bitcoin production, its future accumulation of Bitcoin, its expansion plans, and about other future plans and objectives of the Company are forward-looking information. Other forward-looking information includes, but is not limited to, information concerning: the intentions, plans and future actions of the Company, as well as Bitfarms’ ability to successfully mine digital currency, revenue increasing as currently anticipated, the ability to profitably liquidate current and future digital currency inventory, volatility of network difficulty and digital currency prices and the potential resulting significant negative impact on the Company’s operations, the construction and operation of expanded blockchain infrastructure as currently planned, and the regulatory environment for cryptocurrency in the applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors that could impact future results of the business of Bitfarms include, but are not limited to: the construction and operation of blockchain infrastructure may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions, the ability to complete current and future financings, any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings onwww.SEDAR.comincluding the annual information form for the year ended December 31, 2020, filed on April 7, 2021. The Company has also assumed that no significant events occur outside of Bitfarms’ normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Contacts
Investor Relations:
CORE IR+1 516 222 [email protected]
US Media:
CORE IRJules Abraham, Director of Public [email protected]
YAP GlobalMia Grodsky, Account [email protected]
Québec Media:
Ryan Affaires publiquesValérie Pomerleau, Public Affairs and [email protected] || Samsung’s new foldable phones, smart watches, and headphones revealed in massive leak ahead of Galaxy Unpacked: (Samsung) Samsung ’s upcoming foldable phones - Galaxy Z Fold 3, the Z Flip 3 - and its latest smartwatch which were set to be unveiled at the Galaxy Unpacked event appear to have all been leaked. Evan Blass, who has revealed numerous devices before they have been announced, tweeted a thread that included the new phones, a Galaxy FE device, two Galaxy Watches, and a new set of Galaxy Buds . Mr Blass claims that Samsung’s official event to announce the gadgets will take place on 11 August. pic.twitter.com/8A4jTffvFJ — Evan Blass (@evleaks) July 10, 2021 Mr Blass shared the Galaxy Z Fold 3 in white , green , and black , which folds like a book, the Z Flip 3, which folds like a clamshell phone, in purple , black , gold , and green , and what appears to be the Samsung Galaxy S21 FE - a ‘fan edition’ of the S21 device, similar to the BTS-branded one the company released last year for the Galaxy S20. pic.twitter.com/pQq5We9JtV — Evan Blass (@evleaks) July 10, 2021 Also among the leaks were two images of Samsung’s new watches, one of which appears to be the Samsung Galaxy Watch 4, with a rotating bezel and two button son the right-hand side; the other appears to be the Galaxy Watch Active 4 which lacks a rotating bezel. pic.twitter.com/A090015v7k — Evan Blass (@evleaks) July 10, 2021 This device could be the first from the Korean technology giant to launch with the operating system it announced with Google at Mobile World Congress in February - a “new, unified platform” that offers better integration between Android devices and Wear (the name of Google’s wearable operating system) devices. Story continues This includes app-syncing between Android device and the watch, so downloading an application on the phone will have its corresponding version download on the watch, new features and integrations with existing apps, and an improved watch-face tool. Finally, Mr Blass showed what appears to be Samsung’s Galaxy Buds 2. While little information is known about these headphones, it is expected that they will come with active noise cancellation (via notorious leaker Ice Universe ). pic.twitter.com/zt54JopQzc — Evan Blass (@evleaks) July 10, 2021 Samsung declined to comment. Read More Google saw Samsung app store and Fortnite as ‘virus to be eliminated’, huge new lawsuit claims Phones that fold and flip can still be the future – if Samsung and Google show why Apple doesn’t have to do it first Bitcoin price – live: ‘Buy signal incoming’, crypto market indicator hints || General Motors Company (GM): Were Hedge Funds Right About This Stock?: Last year we predicted the arrival of the first US recession since 2009 and we told in advance that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards General Motors Company (NYSE:GM).
General Motors Company (NYSE:GM)shareholders have witnessed an increase in hedge fund interest in recent months. General Motors Company (NYSE:GM) was in 86 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 88. Our calculations also showed that GM isn't among the30 most popular stocks among hedge funds(click for Q1 rankings).
In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 206.8% since March 2017 and outperformed the S&P 500 ETFs by more than 115 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.
Bill Miller of Miller Value Partners
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like thisemerging lithium stock. We go through lists like the 10best EV stocksto pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter onour homepage. Keeping this in mind let's take a gander at the key hedge fund action regarding General Motors Company (NYSE:GM).
At the end of the first quarter, a total of 86 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 23% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards GM over the last 23 quarters. With hedgies' positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were adding to their holdings significantly (or already accumulated large positions).
According to Insider Monkey's hedge fund database, Warren Buffett'sBerkshire Hathawayhas the number one position in General Motors Company (NYSE:GM), worth close to $3.8498 billion, corresponding to 1.4% of its total 13F portfolio. On Berkshire Hathaway's heels is Eagle Capital Management, led by Boykin Curry, holding a $880.1 million position; 2.7% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions consist of Edgar Wachenheim's Greenhaven Associates, Matthew Stadelman's Diamond Hill Capital and Ken Griffin's Citadel Investment Group. In terms of the portfolio weights assigned to each positionGreenhaven Associatesallocated the biggest weight to General Motors Company (NYSE:GM), around 13.7% of its 13F portfolio. Pennant Capital Management is also relatively very bullish on the stock, earmarking 9.88 percent of its 13F equity portfolio to GM.
With a general bullishness amongst the heavyweights, specific money managers were leading the bulls' herd. Palestra Capital Management, managed by Andrew Immerman and Jeremy Schiffman, initiated the biggest position in General Motors Company (NYSE:GM). Palestra Capital Management had $190.3 million invested in the company at the end of the quarter. Bill Miller'sMiller Value Partnersalso made a $96.9 million investment in the stock during the quarter. The other funds with brand new GM positions are Jeffrey Altman's Owl Creek Asset Management, Jos Shaver's Electron Capital Partners, and Scott Bessent's Key Square Capital Management.
Let's check out hedge fund activity in other stocks similar to General Motors Company (NYSE:GM). These stocks are Mondelez International Inc (NASDAQ:MDLZ), BP plc (NYSE:BP), Canadian National Railway Company (NYSE:CNI), Gilead Sciences, Inc. (NASDAQ:GILD), Automatic Data Processing (NASDAQ:ADP), Fiserv, Inc. (NASDAQ:FISV), and Infosys Limited (NYSE:INFY). This group of stocks' market caps resemble GM's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position MDLZ,45,2845001,-5 BP,29,1243778,0 CNI,36,4705189,5 GILD,65,2689659,-7 ADP,42,2924374,-6 FISV,75,2748118,-19 INFY,26,2011419,3 Average,45.4,2738220,-4.1 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 45.4 hedge funds with bullish positions and the average amount invested in these stocks was $2738 million. That figure was $8053 million in GM's case. Fiserv, Inc. (NASDAQ:FISV) is the most popular stock in this table. On the other hand Infosys Limited (NYSE:INFY) is the least popular one with only 26 bullish hedge fund positions. Compared to these stocks General Motors Company (NYSE:GM) is more popular among hedge funds. Our overall hedge fund sentiment score for GM is 89.3. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 25.8% in 2021 through August 6th and still beat the market by 6.7 percentage points. Unfortunately GM wasn't nearly as popular as these 5 stocks and hedge funds that were betting on GM were disappointed as the stock returned -4.2% since the end of the first quarter (through 8/6) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 5 most popular stocksamong hedge funds as most of these stocks already outperformed the market since 2019.
Get real-time email alerts: Follow General Motors Co (NYSE:GM)
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Disclosure: None. This article was originally published atInsider Monkey.
Follow Insider Monkey on Twitter || Core Scientific Announces Public Listing in SPAC Deal: BeInCrypto –
After merging with Power & Digital Infrastructure Acquisitions Corp., Core Scientific is listing on the Nasdaq via a SPAC deal.
One of North America’s largest Bitcoin mining companies, Core Scientific,is going publicon the Nasdaq. The listing will be done through a merger with Power & Digital Infrastructure Acquisition Corp. The deal lists the value of the crypto miner at $4.3 billion. The merged company is expected to be named Core Scientific Inc.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Bitcoin whales stock up on crypto amid strong buy signal: So-called bitcoin whales are once again stockpiling the cryptocurrency in expectation of price gains (Getty Images) Large holders of bitcoin are stocking up on the cryptocurrency , according to the latest data, leading some analysts to speculate that another major price rally is imminent. So-called bitcoin whales crypto wallets with at least $50 million worth of cryptocurrency have increased their holdings throughout June, July and August. The last time such large-scale accumulation occurred was during the run-up to bitcoins all-time high of $64,000, which it hit in mid April 2021. A price crash in late April and May took the price of bitcoin all the way down to below $30,000, but it has since staged a recovery. Bitcoin rose above $50,000 this week to hit a three-month high, but has fallen slightly and is currently trading at around $47,000. Support is nearby according to technical charts, said Alexandra Clark, a sales trader at UK digital asset broker GlobalBlock. Bitcoins simple and exponential moving averages give strong buy signals... Not only that but MicroStrategy continues to grow its bitcoin portfolio this support could stabilise the pullback and maintain the breakout move above $45,000. After acquiring a further 3,907 bitcoins, software firm MicroStrategy now holds more than 100,000 bitcoins, worth roughly $3 billion at todays rates. It is one of several major corporations to invest heavily in bitcoin over the last year amid heavy intuitional interest in the space and bullish price predictions. MicroStrategy CEO Michael Saylor is among the most optimistic for bitcoins future price, stating his belief earlier this year that it could eventually hit $5 million. The firms bitcoin purchase was part of nearly $10 billion worth of the cryptocurrency acquired by whales between late June and late August, according to data from Chainalysis similar to buying levels seen in February. Other leading cryptocurrencies have also seen strong price rallies in recent weeks, with Ethereum (ether), Cardano (ada) and Binance Coin among the best performing. Story continues The market momentum has led some crypto analysts to predict new all-time highs before the end of the year. The positive trend isnt in any trouble as long as bitcoin stays above its 200-day moving average at $45,750, said Daniela Hathorn, a market analyst at foreign exchange firm DailyFX. Looking ahead, the key challenge for buyers will be to cement further gains towards $55,000 without losing momentum along the way. Read More Bitcoin network smashes record amid huge price surge Bitcoin to the Moon? Huge price rally divides analysts in their predictions for 2021 How bad is bitcoin for the environment really? Amazon responds to bitcoin rumour that sent crypto market surging Bitcoin family travels world storing crypto in six secret locations || BNY Mellon Collaborating with Grayscale to Provide ETF Services: The oldest bank in America, The Bank of New York Mellon (BNY Mellon) has signed on to provide a number of services to Grayscale Investment’s Bitcoin investment product.
Grayscale continues to work toward getting its major bitcoin fund ready for exchange-traded funds (ETFs) by signing a deal with BNY Mellon.Grayscale announced Tuesdaythat it will be leaving administrative functions of its main $21.5 billion bitcoin fund to BNY Mellon starting in October. Those tasks are currently handled in-house. America’s oldest bank will also handle transfer agency and exchange-traded fund-related help for the Grayscale bitcoin trust (GBTC) for its conversion to an ETF.
CEO of Asset Servicing and Head of Digital at BNY Mellon, Roman Regelman, was quoted in the press release saying that: “Providing essential fund administration services to the world’s largest digital currency asset manager further validates that BNY Mellon stands squarely at the intersection of trust and innovation.
It’s another critical milestone in our rapidly growing digital asset capabilities and broader strategy of putting client choice at the center of everything we do.”
Grayscale’s decision to partner with BNY Mellon makes sense in its quest to optimize the GBTC throughBNY Mellon’s platform. Improvements in scalability, resilience, and automation will be a few of the advantages for Grayscale. BNY Mellon’s platform also offers access to its proprietary ETF center. The ETC center will offer Grayscale access to tech solutions designed for the job of supporting digital asset ETFs.
The move aligns with Grayscale’s desire and commitment to converting the Grayscale Bitcoin Trust into an ETF, according to their CEO Michael Sonnenshein. It also cementsBNY Mellon’s rolein the conversion plans by Grayscale.
In the press release, Sonnenshein stated that “Engaging BNY Mellon is an important milestone as part of our commitment to converting Grayscale Bitcoin Trust into an ETF. BNY Mellon has a long-standing reputation as a trusted provider and has established one of the first teams dedicated to servicing the growing digital currency asset class.”
Grayscale is not alone in its journey toward getting bitcoin ETF approval from regulators in the United States. They are, however, the largest. In fact, Grayscale isn’t the only potential ETF that BNY Mellon is involved with.Bitwise Asset Management’s proposed bitcoin ETFappointed BNY Mellon as transfer agent and administrator back in 2019. As it stands, the officials in the United States have yet to grant anyone a Bitcoin ETF.
The process is being held up primarily by the regulators, who have delayed official decisions multiple times. Meanwhile, Canada has already approved a number of ETFs and the United Kingdom has had ETFstrading on the London Stock Exchangesince 2019. || Market Wrap: Possible Trend Reversal as Bitcoin Spikes Past $40K: Bitcoin is in rally mode, posting its largest daily gain in six weeks as shorts covered positions over the weekend. The cryptocurrency was trading around $38,874 at press time and is up 14.5% over the past 24 hours. Sentiment has shifted from extreme bearishness after a sharp correction in May and two months of consolidation between $30,000 and $40,000. Some analysts expect further upside and view the recent bounce as a trend reversal. “We turned bullish last Wednesday but weren’t expecting the short squeeze to happen quite so soon,” wrote QCP Capital in a Telegram chat. “We’ve been pleasantly surprised by how supported the market was after Wednesday and sentiment flipped decisively bullish into the weekend.” Latest prices Related: Crypto Fintech Eco Raises $60M for High-Yield USDC Savings App Cryptocurrencies: Bitcoin (BTC) $38,874, +14.5% Ether (ETH) $2,324.7, +9.08% Traditional markets: S&P 500: 4422.3, +0.24% Gold: $1976.8, -0.31% 10-year Treasury yield closed at 1.293%, compared with 1.281% on Friday. “This move higher feels more like a bounce back into a neutral state after being overstretched to the downside below $30K,” QCP wrote. “The real pain could be lurking from short gamma positions above the $40K level.” “Bitcoin momentum is back, and incremental endorsements on Wall Street could easily be the catalyst to help prices rally towards the $45,000 level,” wrote Edward Moya , strategist at Oanda, in an email to CoinDesk. Related: Bitcoin Declines From $40K Resistance; Support at $34K Blockchain metrics are also showing positive signs for bitcoin. “Bitcoin has slowly trickled back into the hands of longer-term holders throughout these months after the dramatic sell-off from all-time highs in May,” wrote Sean Rooney, head of research at crypto asset manager Valkyrie Investments , in an email to CoinDesk. “Historically this trend of entities that hold long term does not reverse quickly, which will likely result in further advance in price as we move towards Q4,” Rooney wrote. Story continues Short squeeze confirmed The strong bounce in bitcoin over the weekend occurred as shorts covered positions. Roughly 2,000 short positions were liquidated over a two-hour period, according to data from CryptoQuant . The short-squeeze rally occurred despite regulatory pressure surrounding stablecoins. “The short order liquidation amount in the past hour reached $640 million, which is the largest single-day liquidation volume in more than two months,” wrote WuBlockchain in a tweet on Monday. Bitcoin options expiry A strike price of $40,000 represents the largest source of open interest for the upcoming bitcoin options expiry this Friday, which could be a source of volatility. “BTC has been rangebound between $28K-$43K and most expect an upside squeeze to occur on a break above $40K,” wrote Coinbase in a newsletter to institutional clients on Saturday. “But with overwriting strategies forced to settle on lower strikes ($35K-$38K), a sharp short-covering rally will likely begin from lower levels,” Coinbase wrote. Weekly fund flows They missed out. Investors pulled money out of digital-asset funds as bitcoin dipped below $30,000 last week, according to a report Monday by CoinShares. Outflows coincided with negative sentiment that preceded a near- 24% price jump in bitcoin over the past seven days. Monday’s crypto price rally – bitcoin jumped above $38,000 – could encourage digital-asset inflows because many investors have been on the sidelines since the sell-off in May. Altcoin roundup USDT maintains dollar peg: USDT has largely held its dollar peg since Bloomberg reported Monday that the U.S. Department of Justice is investigating Tether, issuer of the largest stablecoin, for possible bank fraud. The token, which serves as crucial plumbing for the $1.6 trillion crypto market, has traded at $1 for most of its history, but past scares have caused it to temporarily lose parity with the greenback. In 2018, for example, USDT fell to as low as 92 cents amid concerns about its collateral and about Bitfinex, the crypto exchange that shares owners and managers with Tether. The reaction to the latest news is mild by comparison. Altcoin rally: Bitcoin’s price surge early Monday led a rally in so-called altcoins, with aave (AAVE), chainlink (LINK) and bitcoin cash (BCH) notching double-digit percentage gains. Aave, an open-source and non-custodial protocol that runs on the Ethereum blockchain that enables users to lend and borrow a range of crypto assets, has climbed 18% in the last 24 hours, according to CoinDesk 20 data. Chainlink, a decentralized oracle network, was trading at $19.17, representing a 14% gain in the last 24 hours. Bitcoin Cash, the blockchain that forked off Bitcoin in 2017, was up 13%. Uniswap Labs Limits Access to Some Tokens: Uniswap Labs is restricting access to some tokens, including tokenized stocks and derivatives on the protocol interface that it supports, the software development studio said in a blog posting Friday. The news comes days after U.S. regulators’ announcement that they would increasingly scrutinize these types of decentralized finance (DeFi) products. Uniswap cited an “evolving regulatory landscape” in explaining its decision. Relevant news FTX Cuts Leverage Limit to 20x From 100x as Criticism of Margin Trading in Crypto Grows Binance Says It’s Cutting Leverage Limit to 20x, a Day After FTX Announces the Same ‘Tulip Bulb’ Crypto Has ‘No Inherent Worth,’ Man Group CEO Says Bitcoin Spike Fueled by Short Squeeze as Market Shrugs Off Tether News Other markets Most digital assets on CoinDesk 20 ended up higher on Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): chainlink (LINK) +19.1% aave (AAVE) +16.2% bitcoin cash (BCH) +15.4% Notable loser: algorand (ALGO) -0.74% Related Stories Bitcoin Takes a Breather as Stocks Drop, Inflation-Adjusted Bond Yields Hit Record Low Amazon: No, We Have No Plans to Accept Bitcoin Payments || Link Global Technologies Provides an Operational Update: THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / August 26, 2021 /LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK", "Link Global" or the "Company"), an innovative power and infrastructure solutions provider for Bitcoin mining, and data hosting operations, provides an update on business operations and recent developments in Alberta.
On August 19, 2021, after working with the Alberta Utilities Commission ("AUC" or the "Commission") Staff in a joint submission to the Commission for the past six months and scrutinizing the Company's operations in Alberta, a decision was made by the AUC to require the Company to seek additional approvals for two of the Company's smaller operating facilities and halt these operations until such approvals are obtained.
Link currently operates the following sites in Alberta:
• 3.75MW at Kirkwall,
• 5MW at Campbell, and
• 10MW at Westlock.
The larger 10MW site continues to operate within the AUC regulatory framework. Based on the feedback from AUC, Kirkwall site will be safely shut down effective August 26, 2021 until such approvals are obtained. The Company is the process of working with the AUC for such review.
The operations at the Campbell site will also be shut down on August 26th, will be moved to another location and subject to review and approval by the Commission.
In February of 2021, the Company was contacted by the AUC due to a noise complaint made by a homeowner with a property that is approximately 850 meters east of the Campbell site. Link Global took immediate actions to provide the AUC with the documentation requested in response to the complaint and provided remedies for noise reduction.
Link Global has worked cooperatively with the AUC at every step of the way through a " joint submission process". The complaint resulted in a full and detailed review by the AUC of all of the Company's operational sites.
"The high level of scrutiny on all of Link Global's operations by the Alberta Utilities Commission that resulted from this process has given us confidence that we can achieve compliance on our existing sites, but also new sites moving forward." said Link Global CEO, Stephen Jenkins. "In consideration of the neighbour's concerns, at the Sturgeon County site we are moving forward with plans to move this plant to a new location even though we currently meet all noise compliance standards for the Campbell site. We do recognize it is important to listen to the local community and in particular one neighbour's concerns with respect to the facility. The agility of our units allows us to be flexible and respond when the need for mobility becomes obvious."
In order to correct some information inaccurately represented in a recent media article and to keep our shareholders fully informed about the facts related to the situation, Link Global submits the following timeline and facts:
• Link Global was contacted by the Alberta Utilities Commission on February 11, 2021, with a request to conduct a second detailed noise survey of its operations in both the daytime and nighttime at our Campbell site.
• Link Global completed the requested survey on February 26, 2021, with the outcome being extremely close to compliant. Further mitigation work was undertaken to ensure LINK met the requirements.
• Sound barriers were then installed. A follow-up survey was completed showing full compliance for both daytime and nighttime operational standards.
• Between March and June 2021, Link Global and the Alberta Utilities Commission worked collaboratively on a joint submission to the AUC board for consideration, - this submission was completed together in a spirit of cooperation.
• The joint submission was provided to the board of the AUC on June 18, 2021.
• Link Global followed up with the AUC on numerous occasions since June 18, 2021 inquiring about the timeline and any additional measures that the company could take to address any items. Unfortunately, the AUC did not respond regarding our outreach requests.
• Link Global was informed of the AUC board's decision on August 19th, 61 days after submission.
• Despite meeting noise standards, Link Global understands that neighbours in this area have a high sensitivity to the operation and the Company is taking action to relocate the plant from the Campbell site as soon as operationally possible to a new site fully operational within a 4-5 week timeframe.
• The Campbell site is only one of several Link Global sites. The Company continues to operate successfully on other sites in Alberta.
"Link Global is breaking ground in this relatively new industry. Inevitably, unknown challenges will have to be tackled along the way," added Jenkins. "We worked closely and transparently with the Alberta Utilities Commission, even providing a "joint submission" to the board due to the unknown nature of many factors. We have grown as a company due to this experience and we are now focussing on expanding other sites for our industry in Alberta."
Link Global currently operates other sites in Alberta, which have been reviewed by AUC and any items that have been requested to bring the sites to the exempt status are being implemented expeditiously. These other sites collectively make up the majority of the Company's generation capacity and meet or exceed all regulatory standards.
About Link Global Technologies Inc.
Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link's objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
To learn more about Link's activities, visit us athttps://linkglobal.io/
On behalf of Link Global Technologies Inc.
Stephen JenkinsChief Executive Officer & Director
For more information, visithttp://linkglobal.io/or contact:Steve [email protected]+1-877-770-6545
For investor information, please contact:Omar DiazInvestor Relations [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION.This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "forecast", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "would", "could", "should" or "might" occur. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the shut down and relocation of the Company's smaller sites and the timing thereof; that the Company can achieve compliance on its existing sites, and also new sites moving forward; and other business plans of the Company. All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: those set out in the Company's most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company's ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.
SOURCE:Link Global Technologies Inc.
View source version on accesswire.com:https://www.accesswire.com/661494/Link-Global-Technologies-Provides-an-Operational-Update || Ethereum: All You Need To Know To Decide If This Crypto Is Worth the Investment: BackyardProduction / iStock.com Cryptocurrencies have skyrocketed in popularity recently and this trend shows no signs of slowing. Given all the talk around these digital assets, you might be wondering whether now is the time to invest. But before pulling the trigger, its always a good idea to have an understanding of the underlying asset . Cryptocurrency is no exception and it is quite different than investing in stocks or bonds. Find Out: Where Does Cryptocurrency Come From? Binance Coin (BNB): Why Its So Interesting to the Cryptocurrency World Therefore, we will cover a popular blockchain technology called Ethereum (ETH). Like many blockchains, Ethereum has a native coin called ether. Lets take a closer look at what Ethereum is and whether you should consider investing. Read: Dogecoin: Is It a Worthwhile Investment? What Is Ethereum? Ethereum is an open-source, decentralized blockchain technology . Ethereums native coin is called ether. This coin is one of the largest cryptocurrencies by market capitalization, second only to Bitcoin (BTC). Although ether has a smaller market cap than Bitcoin, Ethereum is the most widely-used blockchain. See: What Is Chainlink and Why Is It Important in the World of Cryptocurrency? One thing that is important to understand about Ethereum is that it is not the same as Bitcoin. Whereas Bitcoins purpose is primarily to be a digital currency, Ethereum is much broader. In fact, Ethereum is an open-source operating system and computing platform. It also supports distributed applications (dApps) and smart contracts. Another key aspect of Ethereum is that it enables decentralized finance, which is an important part of how the system works. Because the system is inherently decentralized, there is not a single entity controlling it or the value of ether. More: How the IRS Taxes Cryptocurrency and the Loophole That Can Lower Your Tax Bill What Is Ethereum Worth? Like many cryptocurrencies, the price of ether has fluctuated greatly since it launched in 2015. Back then, its price was around $1 and stayed there for several months. The price reached $1,358 in January 2018, its highest price ever at the time. The price began to fall, as did the price of many cryptocurrencies; ether bottomed out at $83 in December 2018. Story continues The price has ebbed and flowed since then but has risen overall. At the beginning of April 2020, the price was around $140; and as of May 18, it is at around $3,349, according to Coindesk. Thats a pretty hefty increase in just over a year. However, its since gone down to $1,848, as of June 25. Read: Breaking Down the Basics of Cryptocurrency Should You Invest In Ethereum? If you decide to invest in ether (and therefore, in Ethereum), you should first ask yourself why you are investing. Although the price of the coin has risen substantially over the past year, it can be extremely volatile. Thus, if you buy ether simply hoping the price will rise, you may end up frustrated. On the other hand, the Etherum blockchain can be used for many different applications, said Tally Greenberg, head of business development at Allnodes. Ether is the cryptocurrency required for any transaction made on Ethereum, a blockchain network of applications. A blockchain, on the other hand, is a technology with limitless potential. It doesnt rest on Ethereum alone and can be used to make a difference in our future with or without cryptocurrencies. See: 10 Best Cryptocurrencies To Invest in for 2021 Sam Bretzmann, the owner of Blocklink , agrees with this sentiment. The difference here is that instead of investing in individual projects which may or may not make it, you can invest in the infrastructure. You can think about it like this, go back to 1999, and instead of having to try and pick which up and coming businesses will survive, you get to just pick the internet and invest in that. This article is part of GOBankingRates Economy Explained series to help readers navigate the complexities of our financial system. More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female The 29 Biggest Car Mistakes That Will Cost You Nominate Your Favorite Small Business To Be Featured on GOBankingRates 40 Money Habits That Can Leave You Broke Last updated: May 25, 2021 This article originally appeared on GOBankingRates.com : Ethereum: All You Need To Know To Decide If This Crypto Is Worth the Investment
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Cryptocurrencies Trade Lower as Chinese, Russian Authorities Strike: Investing.com - Cryptocurrencies were mostly lower on Thursday as Chinese authorities extended their ban of the digital assets, while Russia scrutinized keeping a wider eye on what it may categorize as criminal activity in the industry.
Bitcoin fell 3.63% to $6,859.90 at 10:10 AM ET (14:10 GMT) on the Bitfinex exchange.
Ethereum slid 6.17% to a trading price of $278.20 on the Bitfinex exchange.
XRP traded at $0.32715, down by 7.80% in the last 24 hours on the Poloniex exchange, while Bitcoin Cash, product of the Bitcoin fork and the fourth-largest cryptocurrency by market capitalization, traded down 6.77% to $531.15.
China extended its ban on the cryptocurrency industry to the special economic zone of Guangzhou, where commercial venues were banned from promoting crypto-related events. The Chinese government continued the crackdown on digital assets by banning all promotional activities in the area that were directed at digital currencies.
According to a statement by the Guangzhou Development District, the ban was the regulator’s latest attempt to protect the financial interests of the public, as the Chinese government remains determined to ensure the legal status of the yuan, prevent money laundering and maintain the stability of the financial system.
The news of the ban extension came after China-based multinational technology giant Baidu was told to shut down crypto-related online chat rooms earlier this week.
Beijing has started the clampdown on the crypto industry since last September, including banning hotels in Beijing from holding crypto events. Major social media platform WeChat blocked several crypto and blockchain-related accounts in August, while internet giant Tencent announced it no longer allowed crypto trading on its platform. E-commerce giant Alibaba (NYSE:BABA) also said it would restrict or ban accounts that engage in crypto trading.
In other news, reports said Russian regulators are considering the possibility of categorizing unauthorized cryptocurrency ventures as criminal activities. Earlier this year, Russian President Vladimir Putin said that the central bank would not accept any digital coin offering that is not supported by a fiat currency.
The BBC reported that the Russian Federal Financial Monitoring Service is looking to track cryptocurrency transactions, especially in Bitcoin, in view of fraud schemes, money laundering and terrorism funding.
“Due to anonymity and the inability to find correct sources of transactions, cryptocurrencies are used in gray areas… Lawmakers in many countries are concerned about this phenomenon which was confirmed by the analysis that we conducted on behalf of the president,” Putin’s former adviser German Klimenko told the BBC.
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First Kenyan ICO on the Horizon, to Focus on Blockchain Logistics || Robinhood Adds Ethereum Classic to Crypto Trading App: Robinhood announced Monday that its customers can now invest in ethereum classic (ETC), just a day before Coinbase adds the option too. Biotech Giant Plans to Securely Share Genetic Data on a Blockchain "We plan to add support for ETC on Coinbase Consumer when sufficient liquidity is established. We expect this to occur approximately 1â2 weeks after trading begins on Pro and Prime." Related Stories Indian State Partners with Mahindra to Build 'Blockchain District' Coinbase Resumes Bitcoin Buying and Selling in Wyoming || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 29/07/18: Bitcoin Cash gained 0.44% on Saturday, following on from Friday’s 2.15% rise, to end the day at $824.
A relatively choppy start to the day saw Bitcoin Cash recover from a start of a day dip to a morning low $813.1 to an intraday high $828.2 before going into reverse through to an early afternoon intraday low $801.5. The day’s moves left the major support and resistance levels untested on the day, with Bitcoin Cash continuing to fall well short of $900 levels and the 23.6% FIB Retracement Level of $930, leaving the extended bearish trend intact.
At the time of writing, Bitcoin Cash was up 0.25% to $825.9, with upward momentum from late Saturday continuing into the start of the day, Bitcoin Cash breaking through the first major resistance level at $834.3 to a start of a day morning high $842.5 before easing back to $820 levels.
For the day ahead, a move back through to $830 levels will bring the second major support level at $844.6 into play, while we would expect Bitcoin Cash to continue to fall short of $900 levels and the 23.6% FIB Retracement Level of $930.
Failure to move back through to $840 levels could see Bitcoin Cash pullback through a start of a day morning low $822.9 to bring the first major support level at $807.6 into play before any recovery, Bitcoin Cash expected to continue to hold on to $800 levels by the day’s end.
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Litecoin slipped by 0.6% on Saturday, partially reversing Friday’s 1.27% gain, to end the day at $84.01.
A bearish first half of the day saw Litecoin slide from a start of a day intraday high $84.7 to an early afternoon intraday low $82.51, holding just above the first major support level at $82.36 before recovering through the afternoon to $84 levels, the first major resistance level at $85.91 left untested on the day.
While Litecoin managed to avoid continuing a sequence of new intraday lows, the downward trend of intraday highs continued as Litecoin slipped further back from $90 levels and the 23.6% FIB Retracement Level of $98.
At the time of writing, Litecoin was up 0.23% to $84.18, with Litecoin breaking through the first major resistance level at $84.97 to a start of a day morning high $85.25 before pulling back to $84 levels and a morning low $84.
For the day ahead, holding above $83.74 through the morning would support a run back through the first major resistance level at $84.97 to $85 levels to bring the second major resistance level at $85.93 into play, though sentiment will need to materially improve for Litecoin to eye $86 levels on the day.
Failure to hold above $83.74 through the morning could see Litecoin pullback through the morning low $84 to bring the first major support level at $82.78 into play, with the lack of a weekend rally likely to see Litecoin bring sub-$82 support levels into play before any recovery.
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Ripple’s XRP rose by 0.76% on Saturday, following on from Friday’s 1.48% gain, to end the day at $0.45821.
A positive start to the day saw Ripple’s XRP move through to a morning high $0.45872, before pulling back to an early afternoon intraday low $0.44568, tracking the broader market following through the middle part of the day.
An afternoon recovery saw Ripple’s XRP bounce back to $0.45 levels with a late in the day intraday high $0.4592, the moves through the day leaving major support and resistance levels untested, with Ripple’s XRP continuing to fall well short of $0.50 levels and the 23.6% FIB Retracement Level at $0.5528.
At the time of writing, Ripple’s XRP was down 0.72% to $0.45295, with a start of a day broad based move seeing Ripple’s XRP break through to $0.46 levels and a morning high $0.4623 before pulling back to $0.45 levels, major support and resistance levels left untested in the early part of the day.
For the day ahead, a move back through to $0.4544 would support a move back through to $0.46 levels to bring the first major resistance level at $0.4630 back into play, while $0.47 levels will likely remain out of reach.
Failure to move back through to $0.4544 later in the morning could see Ripple’s XRP pullback through to sub-$0.45 levels to test support at the first major support level at $0.4495, with any broad based market sell-off likely to see the second major support level at $0.4408 into play before any recovery.
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Thisarticlewas originally posted on FX Empire
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• Oil Price Fundamental Weekly Forecast – Could Be Forming Trading Range || Bitcoin Price Intraday Analysis: BTC/USD Surges Towards Wedge Resistance: bitcoin price Bitcoin price on Sunday continued to stick to its uptrend path, recording as much as 4 percent gains against the US Dollar. The BTC/USD began the Asian trading session with a small upside push in continuation of the overall bullish momentum. As the day progressed, there was visibly a weaker selling sentiment towards the interim resistance targets. The European session confirmed it by forming higher highs towards 7425-fiat, followed by a feeble bearish correction attempt. As we now enter the US session, the BTC/USD is attempting a rerun towards the said higher high, while looking to invalidate the Rising Wedge resistance for a potential breakout. BTC/USD Technical Analysis The BTC/USD continues to trend upward inside the Rising Wedge channel we introduced in our of our previous analysis. As of now, we can notice the pair testing the channel support for a potential reversal/breakout. A breakout scenario could have us adjust the Wedge resistance trendline concerning the previous higher highs. However, in a traditional sense, an upside breakout from a rising wedge means a rally which is equal to the distance between the distance between channel support (origin) and channel resistance (origin). BTC/USD meanwhile stays bullish. We are looking at a potential crossover between 100H and 200H moving average that confirms a strong buying sentiment near-term. The RSI and Stochastic both are in strong buying areas, further indicating a bullish bias while expecting a downside correction. BTC/USD Intraday Analysis The latest upside has allowed us to yield decent profits from our long positions. It has also brought us inside a new range with new parameters to watch out. Today, we are looking at 7153-fiat as our interim support level and 7425-fiat, the intraday high, as our interim resistance level. A break above the Rising Wedge resistance will help us put a safe breakout target towards 7425-fiat while eyeing 7459-fiat as a whole. Placing a stop loss just three-pips down the entry position will protect our trade from additional damages, in case the trend reverses. A pullback from the Rising Wedge resistance would make us put a short towards 7153-fiat as part of our intrarange strategy. A further break and well enter a similar position towards the Rising Wedge support, while keeping our stop loss three-pips higher than the entry points in both the said short positions. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Intraday Analysis: BTC/USD Surges Towards Wedge Resistance appeared first on CCN . View comments || U.S. securities law can cover cryptocurrencies, judge rules: By Brendan Pierson
NEW YORK (Reuters) - U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue.
The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their case against Maksim Zaslavskiy. The Brooklyn resident was arrested in November on charges that he defrauded investors in two cryptocurrencies, violating the federal Securities Exchange Act.
Lawyers for Zaslavskiy did not immediately respond to requests for comment. A spokesman for the office of U.S. Attorney Richard Donoghue, which is prosecuting the case, declined to comment.
Cryptocurrencies, like the well-known Bitcoin, are digital assets that may be treated as currency by their users, though they are not legal tender. So-called "initial coin offerings" soliciting investments in new cryptocurrencies have raised billions of dollars in recent years.
Prosecutors have said that Zaslavskiy last year raised at least $300,000 from investors in a cryptocurrency called REcoin, which he claimed was backed by real estate, and another cryptocurrency called Diamond, which he said was backed by diamonds.
In fact, prosecutors said, no real estate or diamonds backed the virtual currencies.
In March, Zaslavskiy's lawyers asked Dearie to dismiss the charges, arguing that REcoin and Diamond were currencies, not securities, and therefore not covered by the Securities Exchange Act.
Dearie rejected that argument, writing on Tuesday that the federal securities law must be interpreted "flexibly." The judge noted that the U.S. Securities and Exchange Commission, which brings civil securities fraud actions, has said that it considers some cryptocurrencies to be securities.
Dearie's opinion and other filings in the case did not cite any previous court decisions addressing whether the federal securities law can be used in a fraud prosecution involving cryptocurrencies.
Regulation of virtual currencies is still in its early stages, and Congress has not passed any laws addressing it directly.
In March, another federal judge in Brooklyn ruled that cryptocurrencies could be regulated as commodities by the U.S. Commodity Futures Trading Commission.
(Reporting By Brendan Pierson in New York; Editing by Cynthia Osterman) || 5 Junk Bond ETFs that are Another Investor’s Treasure: This article was originally published onETFTrends.com.
"Another man's junk is another man's treasure" is an often-used adage with respect to discovering value and in the investment arena, it's locating profitable opportunities where others would not normally find them. Junk bonds or high-yield bonds have long been considered investable assets that make the majority of investors turn the other cheek with their below investment-grade debt, but for savvy investors, treasures can by had by sifting through this mass of junk bonds.
As opposed to allocating investment capital directly into junk bonds, ETFs can used for high yield exposure to these bonds while minimizing the credit risk. With their high yields with respect to their investment-grade corporate bond counterparts, junk bonds can also help hedge rate risk, especially with the Federal Reserve primed for more rate hikes in September and December.
"These ETFs are an efficient way to get fixed income market exposure, especially in highly desirable sectors such as international, emerging markets and high yield," said Paul Mottola, Head of Capital Markets at Incapital. "Plus, the multiple holdings within a bond ETF can accomplish many important investment objectives, such as issuer diversification."
Related:An ETF That Taps Into Closed-End Funds for High Yields
With that, here are five fixed-income ETFs that give exposure to high-yield bonds without the added risk of investing directly in the debt issues themselves.
1. iShares iBoxx $ High Yield Corp Bd ETF (HYG)
HYG tracks the investment results of the Markit iBoxx® USD Liquid High Yield Index, which is comprised of high yield U.S. corporate bonds that have less than investment-grade quality. Investors who have been able to forego the credit risk have seen total returns of 3.95% the last three years and 1.22% the past year based onYahoo! Finance performance figures.
2. SPDR Blmbg BarclaysST HY Bd ETF (SJNK)
SJNK seeks to provide investment results that correspond generally to the price and yield performance of the Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index. SJNK invests its total assets in the securities comprising the index, which is designed to measure the performance of short-term publicly issued U.S. dollar-denominated high yield corporate bonds. The short-term maturities will help hedge some credit risk due to the lesser exposure, but holdings are still less than investment-grade. SJNKhas returned1.20% year-to-date, 2.94% the past year and 3.76% the last three years.
3. iShares 0-5 Year High Yield Corp Bd ETF (SHYG)
SHYG seeks to track the investment results of the Markit iBoxx® USD Liquid High Yield 0-5 Index, which is primarily composed of U.S. dollar-denominated, high yield corporate bonds with remaining maturities of less than five years. Like SJNK, debt maturities are shorter, thereby helping to hedge some credit risk, but issues are still less than investment-grade. Nonetheless, SHYG hasmanaged to return1.13% year-to-date, 2.86% the past year and 4.14% the last three years.
4. iShares Interest Rate Hdg Hi Yld Bd ETF (HYGH)
The prime focus of HYGH is to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, high yield corporate bonds. In order for HYGH to achieve its investment objective, it invests 80 percent of its net assets in U.S. dollar-denominated high yield bonds and also incorporates short positions in U.S. Treasury Securities. 45.84 percent of HYGH’s holdings include yields tied to a fixed-income portfolio of bonds with a BB credit rating and another 40 percent with a B credit rating–more credit risk in lieu of higher yields as opposed to bonds with credit ratings higher than BB. As an example, high yield bonds with a BB credit rating have generated returns of 23.5 percent according to the ICE BofAML US High Yield BB Effective Yield index below.
5. ProShares High Yield—Interest Rate Hdgd (HYHG)
HYHG tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index and allocates 80% of its total assets in high-yield bonds and short positions in Treasury Securities in order hedge against rising rates. Because HYHG invests in high-yield bonds, there is credit risk associated with the higher yield since the fund invests in corporate issues that are less than investment-grade. By targeting a duration of zero, HYHG offers less interest rate sensitivity versus its short-term bond peers.
For more trends in fixed income, visit theFixed Income Channel.
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READ MORE AT ETFTRENDS.COM > || SEC Delays VanEck-SolidX Bitcoin ETF Decision to September: The U.S. Securities and Exchange Commission (SEC) has delayed a decision on a proposed bitcoin ETF, pushing its final determination ahead by more than a month. In an order published on August 7, officials at the agency wrote that they were giving themselves more time to deliberate on whether to approve what would be the first exchange-traded product of its kind in the U.S. It's also perhaps unsurprising, given that in the past, SEC officials have used the agency's statutory powers to push back decisions on bitcoin ETFs. As the agency wrote: Here's the Bitcoin ETF Presentation SolidX Gave to the SEC Last Week "Accordingly, the Commission ... designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change." The proposed rule change from CBOE would, if approved, constitute a critical point on a path to listing a bitcoin ETF, in conjunction with money management firm VanEck and crypto startup SolidX. The companies submitted their proposal back in June , setting off a busy comment period that saw the crypto community rally in support. All told, more than 100 comments were submitted through mid-July. The choice to punt forward a final decision also comes days after SEC commissioners completed a review on a proposed bitcoin ETF from investors Cameron and Tyler Winklevoss, whose multi-year effort was dashed after a majority of the SEC's commissioners backed up the agency's original March 2017 rejection. Ethereum-Powered Insurer Nexus Is Winning Over Blockchain Skeptics One commissioner, Hester Peirce, dissented from that decision, later telling CoinDesk in an interview that the move to block a bitcoin ETF is a disservice to both investors and innovators. As of press time, the price of bitcoin has not reacted, trading at around $7,060 according to the CoinDesk Bitcoin Price Index (BPI). Read the full decision here: 34-83792 by CoinDesk on Scribd The SEC image via Shutterstock Related Stories Bitcoin Price Eyes $7.4K After Defense of Key Support For Wall Street, Bitcoin ETF Decision Could Answer '$1 Billion' Question View comments || Bitcoin Sees Red Early as the Market Hits Reverse: Bitcoin gained just 0.58% on Saturday, following on from Friday’s 2.56% rise, to end the day at $6,732, Bitcoin’s highest close since 5thAugust’s $7,023.9.
Three consecutive day of gains eased pressure on the Bitcoin bulls that had been at the mercy of the SEC late last week, the late in the week moves leading Bitcoin to a 3.81% gain for the current week, Monday through Saturday.
A continuation of Friday afternoon’s rally saw Bitcoin move through to an early intraday high $6,799.7, breaking through the 23.6% FIB Retracement Level of $6.757 to test the day’s first major resistance level at $6,798.27 before easing back to a mid-morning intraday low $6,670.
Holding well above the first major support level at $6,520.67, a relatively range bound second half of the day saw Bitcoin continue to attempt breakouts from the 23.6% FIB Retracement Level of $6,757.
The continued failure to move through to $6,800 levels to bring $7,000 levels into play remains an issue for the Bitcoin bulls, with range bound moves tending to turn out negative for Bitcoin and the broader market during the extended bearish trend formed back at 5thMay’s swing hi $9,999.
In spite of the steady ship following the SEC’s flip flopping at the end of last week, the reality remains that the prospects of the SEC approving any of the 9 Bitcoin ETFs rejected remains slim ahead of the G20’s planned roll out of unified rules and regulations and the decision to review the rejections without a time line could be down to uncertainty over when the unified cryptomarket rules and regs will become effective, the G20 having already pushed back the original deadline of 31stJuly.
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At the time of writing, Bitcoin was down 1.65% to $6,622.0, with Bitcoin sliding from a start of a day morning high $6,789 to an early morning low $6,600, the early moves seeing Bitcoin fall through the first major support level at $6,668.1 to call on support at the second major support level at $6,604.2 and avoid falling through to $6,500 levels.
For the day ahead, a move back through to $6,733 would support another run at the 23.6% FIB Retracement Level of $6,757 and the first major resistance level at $6,797.8 to bring $6,800 levels into play, though Bitcoin will need to hold on the $6,600 levels through the remainder of the morning to support a second half of a day recovery.
Breaking back through to $6,700 levels in the early part of the day will be key for Bitcoin to draw investors in later in the day.
Failure to hold on to $6,600 levels could see Bitcoin slide through to sub-$6,500 levels to bring the third major support level at $6,474.5 into play, though sentiment across the broader market will need to materially deteriorate for Bitcoin to cough up $6,500 levels on the day.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 25/08/18
• U.S. Dollar Weakens as Fed’s Powell Hints End of Policy Tightening Cycle is Nearing
• Crude Oil Weekly Price Forecast – crude markets scream higher during the week
• Silver Weekly Price Forecast – Silver markets show signs of support for the week
• Natural Gas Weekly Price Forecast – natural gas chops around again during previous week
• Bitcoin – The Bulls Take Control as the SEC Hits Pause || GBP/USD Price Forecast British pound gets a bit of relief on Friday: As we are getting closer to the Brexit deal, things will get interesting in this pair. I currently favor the upside longer term, but the downside I think is probably where most short-term traders are focused. Because of this, I anticipate that the market will test the 1.28 again, and then possibly the 1.2750 level, which I think will be rather significant. If we do break higher, the next major resistance barrier will be the one point tonight handle, followed by the 1.30 level, which of course is psychologically important, as well as structurally on longer-term charts. That being said, I think that we will continue to see a lot of volatility in headline risk coming out of the United Kingdom. I think longer-term traders are starting to line up based upon value, so this is a very interesting place to be involved in the cable pair. I would be very cautious about putting too much money to work right now, but I do think that we will eventually see the buyers prevail in this market. Needless to say though, this is going to be a very difficult and scary market at times. However, its the most uncomfortable of trades that tend to make the most money. I believe currently we are starting to see large money flow into the British pound , as it represents a lot of value. When you look at historical charts, we are at extreme lows. GBP/USD Video 27.08.18 This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin The Bulls Take Control as the SEC Hits Pause Gold Price Forecast Gold market breaks higher on Friday Bitcoin Cash, Litecoin and Ripple Daily Analysis 25/08/18 Gold Weekly Price Forecast Gold markets forming support Crude Oil Price Forecast crude oil flexes its muscles to end the week GBP/JPY Price Forecast British pound rallies against Japanese yen || SEC Rule On Direxion Bitcoin ETFs Expected This Fall: Do you remember the 21st night of September?
Cryptocurrency traders will, as it could be the date when the Securities and Exchange Commission renders a decision on the fate of several bitcoin-related exchange traded funds proposed by Direxion, one of the largest issuers of inverse and leveraged ETFs.
What Happened
The issuer is seeking approval for the the Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares and Direxion Daily Bitcoin 2X Bear Shares under NYSE Arca rule 8.200-E.
The SECextended the review periodto Sept. 21 for its up or down decision on the ETFs.
Why It's Important
To this point, the SEC has not approved any issuers' plans for bitcoin or cryptocurrency ETFs. Earlier this year, the commission asked Direxion and several other issuers to withdraw plans for bitcoin ETFs.
In January, the New York Stock Exchange Arca sought a “a proposed rule change to list and trade shares of the following exchange-traded products under NYSE Arca Rule 8.200-E,” according to the SEC.
At the end of the first quarter, the SEC “designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change,” according to the commission.
In April, the SEC commenced proceedings to determine the fate of the proposed rule change and said it has received just two comments on the proposal.
What's Next
The fate of all bitcoin ETF efforts in the U.S. lies in the hands of the SEC, but the approval of more plain vanilla bullish products could pave the way for leveraged funds down the road.
It is possible the SEC could opt to approve some but not all of Direxion's bitcoin funds, perhaps giving the nod to the inverse and lightly leveraged products before moving up to the double-leveraged funds.
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© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Duplicate successful traders automatically with Bitcoin!
I copy "wangzai888". Do you?
https://1broker.com/?r=25023
Talk about a sweet & straightforward 'set-and-forget' wage!
$BTS | $ICX | $OMG | $MOAC | #Blockchain | $ETH | $EOS | $QTUM | $EOS | $HSR || @bitcoin_reddit || @eztechwin || @btc_fan || @btc_fan || @whats_a_bitcoin || The Revolution Is Spreading Like Wildfire #WELCOMEONBOARDKIM #BITCOIN #CRYPTOCURRENCY || @eztechwin || @eztechwin || @Bitcoin_Post
|
Trend: up || Prices: 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Shopify CEO on the stock surging 50% after IPO: Shopify (SHOP) is now open for business at the New York Stock Exchange (ICE), and investors are buying. The stock surged more than 50% at its debut after raising its IPO by $2 above the top of the range at $17.
Even if you’ve never heard of the company, Shopify’s CEO and co-founder Tobi Lütke said chances are you’ve come into contact with it. “If you bought something online in the last month or so, you probably bought something from a Shopify store,” he said.
Along with giants like Google(GOOG)and Tesla(TSLA)as clients, Shopify mostly helps small and mid-sized businesses set up their storefronts online by providing a cloud-based platform.
Get the Latest Market Data and News with the Yahoo Finance App
When it comes to ecommerce IPOs, investors don't seem to be spooked by Etsy’s(ETSY)disappointing and unexpected losses in its first earnings report since going public in mid-April. The online craft marketplace posted a loss of $0.84 per share; revenue was also slightly below Wall Street’s forecast.
The demand for Shopify stock has been strong and Lütke said his business is different from Esty’s because its goal is to "help people own their own businesses instead of renting space on someone else’s website.”
Shopify is not alone in providing software tools for online stores. Another recent IPO, GoDaddy(GDDY), launched its services, but Lütke is not concerned with the crowding ecommerce space. “We’ve never been a competitive focused company, we’ve always looked internally,” he said.
Lütke said the creation of Shopify comes from a history of his trying to find solutions for his own business. The CEO’s focus is now on other entrepreneurs. “We like staying in the background. You don’t go to shopify.com to buy things, you go to the 165,000 online websites that are powered by Shopify and our job is to make the merchants look fantastic," he said.
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Silicon Valley banks on Bitcoin as a way to overtake Wall Street || Bitcoin Making Progress In Europe: Despite several setbacks, thebitcoinindustry is continuing to grow across the world as people in more countries take notice of the digital currency's benefits.
While the cryptocurrency is still far from becoming a mainstream payment method, European regulators are beginning to follow in the footsteps of the Bank of England by planning ahead and evaluating how to integrate the cryptocurrency into the region's financial system.
EBA Review
On Monday, the European Banking Association issued areportdetailing its findings on the use of cryptocurrencies.
The report stated that, although bitcoin still has a long way to go before it can be considered a viable currency, digital currencies are an important issue worth paying attention to in the future.
Related Link:NASDAQ Interested In Blockchain
Blockchain As A Viable Opportunity
The EBA acknowledged that despite bitcoin's volatility and security concerns, the technology that powers it could be applied to several different industries to improve their operations.
The report commended blockchain's ability to make processes faster and simpler, saying that it would be useful in fields like IT and contract law.
More Bitcoin Exposure
Shortly after the EBA's release, bitcoin platform Coinify announced that it was expanding throughout the eurozone to allow 34 European countries to buy and sell bitcoins.
Coinify is using the Single Euro Payments Area, or the bloc's payment integration scheme, in order to carry out the expansion.
Related Link: ItBit Became The First Cryptocurrency Exchange To Receive A Banking License
Making Europe Part Of The Digital Payment Revolution
Coinify's expansion is expected to put Europe in a position to take advantage of the growing popularity of digital currencies. Coinify's Chief Financial Officer Christian Visti Larsen said the company's next round of funding is expected to raise enough money "to make sure that Europe will be playing a leading role in this new payment space."
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The MENA Startup Ecosystem: Problems And (Potential) Solutions: Hala Fadel, Chair of theMIT Enterprise Forum for the Pan Arab Region, opened the 8th MIT Pan Arab Conference in Kuwait by emphasizing the need for Arab entrepreneurs to protect the innovation of the present from the fear of past generations. While a growing number of young entrepreneurs in the Arab world have started to disrupt traditional markets with innovative ideas, they are still being met with great resistance from traditionalists. In a region that prides itself on preserving its cultural authenticity, the Arab entrepreneur is forced to fight two battles.
The first battle is assuaging the fears of Arab communities around innovative entrepreneurship, and second, establishing and monetizingunconventional business models in existing MENA ecosystems. While these challenges may seem daunting, many young Arabs are plunging forward because they recognize that there is a gap in our various market sectors and they want to see it change. Five startups from the 8th MIT Arab Conference, from across the Arab world, discuss the biggest obstacles that young Arab entrepreneurs face in their ecosystems.
Khalid Abujassoum, Tahi Technologies Inc. Image credit: Tahi Technologies Inc.
Khalid Abujassoum, co-founder & CEO,Tahi Technologies Inc.[Qatar]
Do you think that there is a fear of investing in the small startup ecosystems in the Gulf?
“There is, and I think it’s natural due to the history of business in this region and how the economy has evolved. In the Gulf, the major business contributors to the economy were traders and merchants, so the whole technology entrepreneurship realm is new, and as the old saying goes, ‘A person is an enemy to whatever they ignore.’ Such fear is natural and understood. We need to ensure that all stakeholders in the ecosystem including entrepreneurs, investors, policymakers, incubators etc. are playing their roles correctly.An entrepreneur should have the tenacity to listen, learn and grow. A policymaker should engage stakeholders to understand their needs and incorporate them in the policy making process. The same applies to investors and other players in the ecosystem. By working together, all these stakeholders can build a strong and trustworthy ecosystem for everyone. There is no one hero that will make it work, I believe that it is our collective responsibility to build and strengthen Arab startup ecosystems.”
Amine Toumi and Salim El Jaï (on right), Yuzu. Image credit: Yuzu.
Amine Toumi, Project Manager,Yuzu[Morocco]
Do you think that there is a fear of investing in startups in Morocco and North Africa?
“When I started Yuzu with my team, we didn’t find any investors or funds to help support or accelerate the development of our startup. I don’t know what the real problem is- is it a lack of information about startups in the region, the legitimacy of our project or simply the lack of investors? While the Moroccan startup scene is still very young and lagging behind some countries in the Arab region, it’s slowly catching up. At Yuzu, we understand that fear is an investor’s natural state of being, whereas courage is an entrepreneur’s natural way of life. In order to increase investment in the North African startup ecosystem,we have to find the crossroads where these two stakeholders can meet. Firstly, we have to be willing to admit that startup success is hardly predictable. On the other hand, we must fight to nurture and invest in entrepreneurship, because startups will build the future of countries and people across North Africa and the Arab world. If we make it a priority, we can encourage decision-makers to take more risks, thus ensuring that more investments and resources are available for entrepreneurs to go on dreaming of a better world.”
David Al Achkar, Yellow. Image credit: Yellow.
David Al Achkar, Founder,Yellow[UAE]
Do you think that there is a fear of investing in the Arab world, because of their existing financial systems?
“I see the main financial problems in the region as being ones of fragmentation, high cost, and high complexity. Whether you’re a startup or an established business, few options, besides standard wires and credit cards, exist that cover the region as a whole and the latter still has a low penetration. Most available options, however local, are still on average more expensive than abroad. And finally, in many cases,getting set up to accept or send payments is a complicated, lengthy, and costly process, which is a recurring setback for most startups in the region. The approach we’ve decided to follow at Yellow is the transition from traditional payment methods to the cutting-edge of financial technology, i.e., Bitcoin. We believe that in the midterm, the innovation brought forward by Bitcoin, which is faster, cheaper, global payments, has the potential to bring the Arab region to the forefront of payments, thus effectively leapfrogging many intermediaries, and in most cases, only incrementally better payments solutions.”
Samer Tarazi, RedTroops. Image credit: RedTroops.
Samer Tarazi, founder and CEO,RedTroops[Jordan]
Do you think that there is a fear of investing in Arab tech startups in Jordan and the MENA region?
“I wouldn’t say there is fear, I would say there’s an immature attitude towards tech startups in the region. We don’t have highly experienced investors who are truly visionaries. Unfortunately, most investors tend to follow rather than lead, either by following another investor or investing in an Arabic version of a business model that has already been proven abroad. When you’re working on a disruptive technology or trying to build something that hasn’t really been done in the Arab world before, this mentality makes it extremely difficult to raise the funds needed to keep a startup going.Nurturing the maturity of both founders and investorsin the region will help, because we currently lack people who really understand what a startup is and how to scale quickly on both ends. While I’m sure that Arab ecosystems will mature with experience in time, I still believe we suffer in the region because the market itself is still lagging and it’s definitely lacking in terms of early adoption.”
Mohammad Gamal, Kotobna. Image credit: Kotobna.
Mohammad Gamal, founder,Kotobna[Egypt]
Do you think that there is a fear of starting a startup in the Arab world because of the weak intellectual property laws in Egypt and the rest of the MENA region?
“Yes, there is a fear, but there shouldn’t be, because firstly, innovative young, business leaders should find solutions for the problems of intellectual property (IP) protection. Secondly, they should create new localized business models that understand target market’s needs, their social environments and their motives for breaking IP law. By creating relevant and innovative solutions to real problem in the market, young entrepreneurs will find new and efficient ways of providing and capturing value in Arab markets. A very good example of such a ‘market hack’ is Abjjad, a social network for books based in Jordan, which offers Arab readers e-books for free. The Abjjad team make revenue from the Google Ads that are embedded in the pages of each book. As entrepreneurs, especially in the Arab world, we must strive to understand our customers’ needs and their social environment. Regardless of where you are or what the startup ecosystem is like, it isthe responsibility of an entrepreneur to reinvent their business modeluntil they can find one that serves their customers. I also believe that it is our responsibility as entrepreneurs to educate our target audience about the benefits of protecting IP by creating multi-sided platforms here, content providers with content consumers in a secure, beneficial way for both parties- that’s exactly what we’re doing at Kotobna. We are linking young Arab authors with Arab readers who are interested in e-books. On the Kotobna platform, books are encrypted and secured and offered to readers at very competitive rates, with very easy and accessible payment methods.” || Your first trade for Friday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour was a seller of IWM(NYSE Arca: IWM).
Jon Najarian was a buyer of ARG(ARG).
Brian Kelly was a seller of HYG(NYSE Arca: HYG).
Dan Nathan was a buyer of LVS(LVS)puts.
Trader disclosure: On June 4, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, T, BAC, C, DIS, F, FXI, GE, GM, GOOGL, INTC, KORS, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.Jon Najarian is long AEP, BBY, CS, CSLT, GE, HOG, HSBC, HZNP, KORS, MCD, MW, NEE, NRG, PG, RHT, SIMO, SYK, TTWO, TLT, VIX, XLI, YPF, he is long calls AIG, ANF, ARG, ARIA, CA, CBS, CTXS, DE, DRI, EBAY, ETFC, GE, GLD, IDTI, JNPR, KING, KO, LLY, MCD, MU, NUAN, PG, PHM, SFUN, SNDK, SUNE, he is long puts KORS, LC. Today he bought ARG calls, MU calls, CA calls, ETFC calls, and LC puts.Dan Nathan is long LNKD July call fly, LVS July Aug Put Spread, GOOGL June/July Call Spread, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, SPY June put fly, he is short SO Aug calls. Today he sold to close TLT June call butterfly and GOOGL June call fly.Brian Kelly is long DXGE, BTC=, BBRY, U.S. Dollar, he is short Australian Dollar, he is short Canadian Dollar, he is short Yen, he is short Yuan.
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• Personal Finance || Conexus Acquires a Majority Interest in Bitcoin Direct LLC: NEW YORK, NY--(Marketwired - May 19, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today the acquisition of a 51% membership interest in Bitcoin Direct LLC, Nevada limited liability company ("Bitcoin" or the "Company"), which provides bitcoin transaction solutions for consumers in what we believe is a rapidly expanding industry, still in its infancy. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. The Company anticipates rapidly expanding its network of Company owned ABMs in the coming months.
In addition to operating its own bitcoin ABMs, the Company also anticipates partnering with local operators to create an integrated bitcoin distribution network in high traffic locations across North America. The Company, through its relationships with leading bitcoin miners, plans to supply bitcoins, as well as provide ABM equipment to these local operators.
Bitcoin plans to offer a full range of bitcoin transaction solutions to a wide variety of industries, including remittance and gaming, among others.
Under the terms of the transaction, Conexus, Bitcoin, and all of the members of Bitcoin, entered into a Securities Exchange Agreement, pursuant to which Conexus acquired memberships interests representing 51% of Bitcoin in exchange for 500 shares of the Conexus's Series H Preferred, with an aggregate stated value equal to $500,000 (the "Exchange Agreement"). In accordance with the terms of the Exchange Agreement, Conexus agreed to provide a working capital facility to Bitcoin in an amount up to $300,000 to be utilized by Bitcoin as needed, and to be repaid by Bitcoin from working capital generated from Bitcoin's operations. In addition, the Exchange Agreement provides an option to the members of Bitcoin for a period of five years to repurchase from the Conexus 10% of the Bitcoin membership interests held by Conexus for $250,000. Additional details of the transaction are included in the Conexus' Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission.
Conrad Huss, President of Conexus, commented, "We are excited to have acquired the majority interest in Bitcoin Direct LLC, along with its experienced management team. Our strategy is to provide sound, profitable, bitcoin transaction solutions to consumers, and to assist a variety of industries as they grow their markets. The Company is ready to help pioneer and promote the consumer adoption of bitcoin through automated solutions across North America."
About Bitcoin Direct LLCBitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal.
Safe HarborThis press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov || A New Cryptocurrency Draws Its Power From Unicorns: Cryptocurrencies like bitcoin earned a bad reputation in the press after several high profile scams depicted the currency as a tool forillegal activity. However, many say that despite digital currencies' shortcomings, they offer charitable organizations an interesting opportunity to raise money from around the world without the cost of a third party intermediary.
Unicoin
UNICEF and the H&M Conscious Foundation are hoping to capitalize on that opportunity with anew programaimed at giving underprivileged children access to quality care and education.
The two organizations have created Unicoin, a cryptocurrency that draws its power from children's unicorn drawings.
Related Link:The Apple Store Gets Its First Cryptocurrency Trading App
Getting Children Into Giving
Young children around the globe are encouraged to draw and submit drawings of unicorns, along with a few lines that sum up their plans when they grow up. The drawings are uploaded to the foundation's website, which in turn donates one notebook and pencil to a child in need.
The initiative has been praised as a great way to integrate digital currencies into charitable giving, as well as a good introduction to philanthropy for young children.
Charities Using Cryptocurrencies
While Unicoin has been touted as the first "charitable cryptocurrency," other organizations are experimenting with accepting digital currencies as well. The American Red Cross and Save the Children are among some of the big name charities that now accept bitcoin donations in hopes of garnering support from new segments of the population.
Related Link: Bitcoin Mining Lightbulbs Prove Cryptocurrencies Won't Be Left Behind In The IoT
Still Some Risks
The low transaction cost associated with bitcoin has been a major draw for charitable organizations, as the total amount a user donates goes directly toward the cause.
However, critics say that bitcoin's volatility cancels out that benefit, as charities have to quickly change the donations into another currency to avoid major price swings.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || All the 'Silicon Valley' cameos that only tech geeks will notice: The season two finale of “Silicon Valley” aired last night on HBO. In honor of the show completing its sophomore year, here’s a list of some of its most notable cameos:Evan SpiegelThe Snapchat co-founder and CEO makes a not-so-subtle appearance in this season’s first episode. While eulogizing the eccentric billionaire Peter Gregory, Spiegel quips: “That’s just the kind of guy he was—warm, generous, and not disappointed in Snapchat.” The remark is likely a reference to a comment made by Peter Thiel (the real life entrepreneur the Gregory is based on) who called Snapchat’s 2013 photo hack “especially problematic."Cameron and Tyler WinklevossOne of the more amusing cameos from the second season’s premiere, “Sand Hill Shuffle,” involved the Winklevoss twins of Facebook/Bitcoin fame. Erlich, the show’s resident Silicon Valley know-it-all, spots the Winklevi at a swanky party. “They’re like two genetically enhanced Ken dolls,” he says running after them.
Drew HoustonThe Dropbox CEO makes an appearance at the same party, which, in the show, is thrown by a venture capital firm at AT&T Park, home of the San Francisco Giants. Though in the presence of Giants draft picks Tyler Beede and Skyler Ewing (more cameos!) the Pied Piper guys are more interested in (tech) giants like Houston.Justin Rosenstein“We in technology have a greater capacity to change the world than the kings and presidents of even 100 years ago.” Unfortunately, that’s not a line from Rosenstein’s “Silicon Valley” cameo. It’s actually from his infamous 2014 TechCrunch talk, dubbed the “worst tech speech ever” by the tech news site BGR. Rosenstein has worked as an engineer at Google and Facebook, and created the communication app Asana. In the show he plays himself as a mourner at Peter Gregory’s funeral. The cameo-heavy episode is said tomirror Steve Jobs’ star-studded memorialservice in 2011 .Kara Swisher and Walt MossbergThe co-executive editors of Re/Code, a news site that covers all things Silicon Valley, appear as themselves in the episode, “Bad Money.” Set at the Re/Code Code Conference, they interview the fictional bad guy Hooli CEO, Gavin Belson, as he compares the plight of Jews in Nazi Germany to the “plight” of billionaires in America.Jason KincaidAnother real tech journalist appears in episodes seven and eight of season one, at the TechCrunch Disrupt startup competition (also a real thing).Howard L. MorganA venture capitalist famous for his early participation in the technology boom also appears at the fictional version of the conference.Michael ArringtonThe founder of TechCrunch pops up in the season one finale at the Disrupt conference. Arrington has spoken infavor of dropping out of college, kind of like Peter Gregory does in the show’spilot episode(Gregory's real life counterpart does this too through hisThiel Fellowship).Eric SchmidtThe Google exec makes a brief cameo in the first episode where he throws a party – albeit a dull one – to celebrate an acquisition. That brings us to…Kid RockNo, it wasn’t a geeky tech CEO or super-successful venture capitalist who made the first cameo in the series, but a bona fide rock star. Kid Rock performed at Schmidt’s fete... and no one actually cared. “Kid Rock is the poorest person here, apart from you guys!” Erlich tells his friends at the party.What’s more, the Kid’s proclamation before walking off stage, “f*** these people,” could arguably serve as a thesis statement for the entire show. || Global Arena Holding, Inc. Has Entered Into an Agreement to Acquire Blockchain Technologies Corporation: NEW YORK, NY--(Marketwired - Jun 26, 2015) - Global Arena Holding, Inc., ( OTC PINK : GAHC ) reported in GAHC's Form 8-K filed with the SEC on May 20, 2015, that GAHC incorporated a new wholly owned subsidiary in the State of Delaware called "GAHI Acquisition Corp." This entity was incorporated to be the merger subsidiary for the acquisition of Blockchain Technologies Corporation (BTC). GAHC entered into an agreement and plan of merger with BTC. Under this agreement, BTC will merge with GAHI Acquisition Corp., and GAHI Acquisition Corp. will be the surviving corporation. Pursuant to the terms of the merger, GAHC will reserve a number of shares equal to 1/3 of the total issued and outstanding of GAHC to be issued to BTC shareholders. Additionally, GAHC will also have capitalized GAHI Acquisition Corp. with $1,250,000 plus an amount equal to an outstanding bridge loan, which amount shall be used for the development and implementation of the Blockchain business and technologies, as well as, the repayment of said outstanding debt. For complete terms, please see GAHC's Form 8-K filed on May 20, 2015 located at www.sec.gov . BTC is a technology company that acts as an early-stage investor, incubator, and seed accelerator program featuring a number of innovative startups utilizing the Blockchain, the underlying technology of the bitcoin digital currency. BTC currently owns several startups that are operating in the Blockchain technology field. Intellectual property included in the proposed GAHC-BTC merger includes at least four provisional patent applications reflecting material improvements upon rudimentary Bitcoin blockchain technology in areas such as i) database creation and utilization, ii) decentralized voting, iii) retail affinity tokens or rewards, and iv) the invention of an interactive Internet browser that makes possible user-advertiser affinity tokens or rewards. The Provisional Patents are: 1. Application No. 62/029,409 filed July 25, 2014; A system and method for database for self-actuating contracts and other data. 2. Application No. 62/033,706 filed August 5, 2014; Designed for the use of the Blockchain Database to Enhance Security of and Support Secure Electronic Voting and Election Result Tabulation. 3. Application No. 62/090,370 filed December 11, 2014; Retailer-Captive Blockchain System for Hosting Secure and Non-Counterfeit Affinity Token Transactions, and Tracking Affinity Token Inventory, Within A Customer Affinity Program. 4. Application No. 62/112,130 February 4, 2015; System and Method for Blockchain-Type Based Search Engine Database within an Internet Browser Supporting a User Affinity Program. Story continues When consummated, this deal will mark a significant step in the history of the rapidly growing Blockchain ecosystem by having one of its key players be part of a publicly traded company, GAHC. In particular, the GAHC proposed acquisition affords GAHC ownership of Blockchain Technologies Corporation's wholly owned technology companies including: Slidechain LLC: a company that utilizes multiple Blockchains simultaneously, with their backbone being the Bitcoin blockchain; Digital Assets Vending Inc.: a bitcoin ATM / BTM company whose main product, D.A.V.E. (Digital Asset Vending Equipment), is being developed to be the easiest, most flexible, and affordable device of its kind; Cryptos: a high-speed, ultra-secure digital currency-trading platform with AlphaPoint, the same backend Bitfinex uses; Overseas BC Marketing: A company that has entered into an agreement with an Irish gaming company pursuant to which Overseas BC Marketing will market online web-based waging services and products. This platform does not allow wagering from U.S. citizens; Blockchain Apparatus LLC: a company that uses the Blockchain for an incorruptible voting application and self-executing wills and smart contracts, among other uses. GAHC Chairman and Chief Executive Officer John S. Matthews said, "I am very pleased with the potential technology acquisition and believe on consummation, BTC and its subsidiaries will add an exciting dimension to the growth of GAHC." BTC Chairman & Chief Executive Officer Nick Spanos stated "We're delighted with the GAHC proposed merger as it will enable us to compensate developers with a publicly traded stock, and we are further inspired by the knowledge that as a function of this proposed merger, the public can now participate in a company with Blockchain technology. GAHC is trading on the OTC pink sheets and has been publicly traded since 2011. GAHC holds a number of interests, including Global Elections Services, and Global Arena Investment Management. Safe Harbor: This press release contains forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned that such forward-looking statements should not be construed as a guarantee or assurance of future performance or results. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors. In light of these risks and uncertainties, there can be no assurance that the forward- looking statements contained herein will in fact occur. These forward-looking statements are based on current expectations, and the Company assumes no obligation to update this information. The Company is a going concern. Readers are urged to carefully review and consider the various disclosures made by the Company in its Form 10-K and in the Company's other reports filed with the Securities and Exchange Commission that discuss certain of the risks and factors that may affect the Company and its business. View comments || Bitcoin could shift balance of power in Greece: AsGreecestumbles toward capital controls,bitcoinis once again proving its disruptive power within the global financial system.
Over the past week, both the price and volume of bitcoin has been increasing (it's up 11 percent so far in June) - this is similar to the activity that occurred whenCyprusintroduced capital controls in 2013. During the Cyprus crisis, citizens were not only locked out of their bank accounts but many found that some of their money was confiscated when the banks re-opened. This confiscation went by the "friendly" moniker "bail-in." In the Cyprus bail-in, any deposit above 100,000 euros were converted into Bank of Cyprus shares. Given this precedent, it is no surprise that Greeks are seeking a safe haven for their savings.
If Greece does choose to leave the euro zone, it is unclear what currency the government will choose - it could choose a new drachma or it could choose an existing currency like the Russian ruble. Regardless of the fiat currency the Greek government chooses, the likelihood that Greek citizens holding paper currency will lose money in a Grexit is very high. Its only natural for citizens to seek an easy and secure alternative.
Read MoreECB warns Greek banks may not open on Monday
Since 2013, the bitcoin ecosystem has matured and it is now easier than ever to purchase and securely store bitcoins. This makes bitcoin the ideal instrument for Greeks to use as a store of value.
What is most striking about the use of bitcoin as a safe-haven asset is that doing so completely disrupts the balance of power between the government, the financial system and its citizens. Part of the European negotiating strategy with Greece has been to make conditions so bad for ordinary citizens that they force politicians to concede to onerous adjustments. So far, this tactic has failed to force Greece into a deal. I am skeptical of this tactic because Greek politicians have little to gain by accepting a deal with the European Union. Since the new government was voted in with the mandate to end austerity, it would be political suicide for them to accept a deal that continued down this path. It would also be economic suicide as further austerity measures will likely push Greece further into depression and result in an even higher debt-to-GDP ratio.
Read MoreA bitcoin-like solution for Greece
But there is also another reason this tactic may not work - it's called competition. The disruptive power of bitcoin has, for the first time in modern history, divorced the currency from the state. This disruption should not be dismissed - ordinary Greek citizens no longer have to wait and see what currency the government (either Greek or EU) will allow them to use - they are free to choose bitcoin or any other digital currency in existence. This competition among currencies is the beating heart of both capitalism and democracy and this competition removes a piece of the euro-zone leverage.
Recently there has been a marked increase in volume across multiple exchanges. If this is Greek citizens converting savings into bitcoin, it could mean citizens will become indifferent to political demands. Moreover, since bitcoin can be used to purchase goods and services at over 100,000 merchants, it's unclear whether citizens will ever choose to return to a government-backed fiat currency. The implications of this reality should not be underestimated. Competition among currencies is a new phenomenon ushered in by bitcoin and the blockchain. The ultimate result of competition is to erode the power of the dominant players. This is not to say that Greece will devolve into a lawless society; on the contrary, compassion among currencies places the power back into the hands of the citizens and this is the essence of democracy. It is not lost on me that the birthplace of democracy could also be the cradle of a new balance of power.
Read MoreGartman: Greece would be better off defaulting
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the upcoming book, "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World."Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter@BKBrianKelly.
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• Personal Finance || Are Data Centers Worsening California's Drought?: In California, water has become scarce and residents have begun cutting back on their usage in order to conserve the resource and end a four-year drought. However, while most look to shorter showers and strategic plant watering in order to cut down on waste, another industry has been under the microscope for its water usage —data centers.
Environmentally Unfriendly
With San Francisco being home to several large tech names, California has a large population of massive data centers. The facilities have been criticized in the past for their energy usage, but now the centers are being forced to take a look at their cooling systems, which require a substantial amount of water.
Related Link:California's Drought Turns Traders Attention To Water Plays
Major Drain
In order to keep rooms full of servers from overheating, many data centers use cooling towers that take water in, use it to cool the air and expel it. In this way, data centers are a major contributor to California's drought, as they rid the state of its water supply through evaporation. The facilities require a great deal of water to maintain the cooling systems as well; Utah's NSA Data Center uses up to 1.7 million gallons of water per day to keep its servers cool.
New Designs
Now that water usage has become a concern, many tech companies are rethinking their cooling systems in order to make their operations more sustainable in times of drought.Google Inc(NASDAQ:GOOG) (NASDAQ:GOOGL) has explored using non-potable water in its cooling process, whileFacebook Inc(NASDAQ:FB) has tried using a system that cools outside air using a water mist, which requires much less water than traditional cooling.
Image Credit: Public Domain
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[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin Current price of Bitcoin is $244.00 || buysellbitco.in #bitcoin price in INR, Buy : 17213.00 INR Sell : 16680.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $866.70 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.3E-5 per #reddcoin
06:15:00 || buysellbitco.in #bitcoin price in INR, Buy : 15246.00 INR Sell : 14778.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || $236.00 at 10:30 UTC [24h Range: $235.06 - $244.14 Volume: 9165 BTC] || 1 #bitcoin 662.35 TL, 245.24 $, 215.1 €, GBP, 12920.00 RUR, 30350 ¥, CNH, 301.83 CAD #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $1,044.56 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $1,003.42 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15562.00 INR Sell : 15072.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: down || Prices: 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-04-29]
BTC Price: 8801.04, BTC RSI: 76.20
Gold Price: 1703.40, Gold RSI: 54.68
Oil Price: 15.06, Oil RSI: 47.92
[Random Sample of News (last 60 days)]
Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash has finally found a level of support after suffering one of the worst weeks in its history with a shocking sell-off. With it now trading at around $163 Bitcoin Cash is at its lowest point since March 2019, which has erased all of the 185% gains that were printed earlier this year. Failure to break above $196 in the short term will most likely see Bitcoin Cash test the $106 level of support for the first time since December 2018. There is another level of support at $75, which could also be tested if fear surrounding coronavirus continues to mount over the coming week. Much of the upcoming Bitcoin Cash price action will depend on the direction of Bitcoin and other cryptocurrencies, most of which have suffered during the recent downturn in global markets. Despite being touted as a hedge to the traditional financial system and ‘safe haven’, cryptocurrencies like Bitcoin lost more than 50% of value over the past two weeks, demonstrating fear and panic from investors. Bitcoin Cash suffered an even darker descent than Bitcoin, with it now being 67.4% down from its February high of $493. This is down to a number of factors, one of which being a lack of liquidity and the other being the lack of faith held in all altcoins during market sell-offs. As Bitcoin is often tied to fiat trading pairs it makes it easy for traders and investors to cash out, while Bitcoin Cash and other altcoins often have to be traded for Bitcoin before being liquidated. For more news, guides and cryptocurrency analysis, click here . Pricing Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC Story continues About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: https://coinrivet.com/roger-ver-to-launch-crypto-exchange-on-bitcoin-com/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . || Decentralized crypto exchange Bisq halts trading due to ‘critical security vulnerability’: UPDATE: 10:15 A.M. EDT: In subsequent blog post , the Bisq team said that "about 24 hours ago, we discovered that an attacker was able to exploit a flaw in the Bisq trade protocol, targeting individual trades in order to steal trading capital." The team went on to explain: "We are aware of approximately 3 BTC and 4000 XMR stolen from 7 different victims. This is the situation as we know it so far. The only market affected was the XMR/BTC market, and all affected trades occured over the past 12 days." That figure equates to roughly $245,000 at current market prices for bitcoin and monero. Bisq has also published a security vulnerability fix, adding on Twitter that "in-app alerts are going out now." Decentralized or non-custodial cryptocurrency exchange Bisq has halted trading until further notice due to a “critical security vulnerability.” Announcing the news on Tuesday, Bisq said it has used the alert key to "temporarily disable trading." "Bisq is a proper distributed peer-to-peer network. So you can override the latest alert key functionality that blocks trading. But we highly discourage you from doing this for your own security," said the exchange. Bisq is expected to release an update of its application “within a few hours.” In the meantime, the exchange has advised users not to send any funds to a counter-party if they active trades. “Until v1.3.0 is released, existing trades cannot be completed. Please hold tight. Of course, because of Bisq’s security model, your funds are not at risk,” said the exchange. Bisq is an open-source, peer-to-peer application that allows users to buy and sell cryptocurrencies in exchange for national currencies. || I Attended a Bitcoin Conference in VR and Still Got Sick: Human frailty knows no bounds – even the virtual ones.
I attended a virtual reality meetup hosted by bitcoin advocate Udi Wertheimer on Sunday for the MIT Bitcoin Expo. Instead of jaunting up to Cambridge, Mass., for the afternoon, I donned virtual goggles in Southern California to enter the world of “non-deterministic bitcoin scripts” and other cypherpunk conversations.
And despite all the coronavirus-fueled excitement around virtual gatherings being a viable alternative to germ-swapping IRL events, I still got sick. Still, my foe was much more mundane: motion sickness.
Related:Bitcoiners in Europe Reflect on Economic Shocks as Coronavirus Spreads
“Kudos to all you brave souls who are still here in meatspace,” said Casa Chief Technology Officer Jameson Lopp as he opened his talk, addressing the sparse physical crowd at MIT.
Truthfully, it’s pretty cool that you can roam a tech conference from the comfort (and safety) of your own home. To date, some45 tech-related conferenceshave been canceled, postponed or moved to online platforms. That’s a lot for a distributed industry that has long relied on hackathons and meetups for forward progress.
Wertheimer’s VR experience ran on Mozilla Hubs. A fairly buggy platform compared to others such as VRChat – which hosted a four-hour VR “afterparty” for the MIT Expo.
My experience was, I’d say, closer to Harry Potter’s Azkaban prison than San Francisco’s (now-postponed) Bitcoin 2020.
Related:You Call That Volatility? Bitcoin Traders Scoff at Wall Street’s Gyrations
Mozilla Hubs can run on two platforms: desktop or VR goggles. At first, I logged on to the desktop version I had become familiar with in the week prior for fun. Here’s a picture of me as a donut at the Parthenon:
It’s important to note Hubs’ current status as more of a proof-of-concept than full VR simulation, especially on desktop alone.
You can move about, talk to attendees and even teleport, but it still lags severely and crashes after about two-dozen people join the virtual room. The VR group I joined does not plan on using the platform again (although Mozilla is marketing the product toevent organizers like SXSW).
“When Jameson joined we had some severe audio problems, he could hear only some of the people so it was a bit of a mess. Still lots of fun though,” Wertheimer told CoinDesk.
After lobbying my editor, I purchased an Oculus Go for the event, the cheapest headset you can get on Amazon. (At about $150 on Amazon Prime, it has never been cheaper to distance yourself from reality.)
Linking my Oculus with Hubs, I re-entered into the MIT Expo hall. Or rather,under itby about 60 feet:
No, being virtually buried alive is not quite as suffocating as dwelling in the dirt, but it wasn’t enjoyable either.
I felt quite trapped beneath the virtual tent and its 30-some avatar guests. More still, I was incapable of moving. My controller worked whenever I exited the Expo to pick a new avatar character, but was worthless inside the event itself. I was left spinning around my apartment looking for some virtual buttons to click. This, in turn, was greeted by lagging images of a mountain backdrop and distant echoes of a conversation about bitcoin scripting language.
Health experts caution that COVID-19 is asymptomatic until an acute turning point, wherein hospitalization is generally required. My experience with VR bears similar warning.
Unexpectedly, nausea set in some 30 minutes into the Expo. Nonetheless, I was determined to carry on.
My resolve did not last.
Perhaps the digital world is more weighty than the physical. I abandoned the VR world for the comforts of meatspace after multiple (failed) attempts at moving toward the tent entrance.
Like bitcoin, VR isn’t ready for the big stage quite yet. It may never be.
The limitations of VR are still quite tangible. Clunky and expensive hardware is met with underdeveloped software infamous for making users disoriented and seasick. For one, I’m glad vomit doesn’t transfer to the digital realm.
Most VR applications such as VRChat cannot handle more than a few hundred attendees without crashing. Mozilla Hubs can only run about 30 people before sending applicants into the digital abyss. There’s also that little voice in the back of your head wondering if what you are doing is entirely normal.
“Not all VR experiences are equal. In particular, the platform we used on Sunday appeared to have performance issues once we maxed out the number of people who were allowed to join the virtual space,” Lopp told CoinDesk via email. “In general, though, some platforms enable interesting functions that you wouldn’t be able to do in real life.”
Silver linings certainly exist in the VR clouds. Wertheimer said participants felt more comfortable addressing conference speakers in one-on-one conversation. Privacy-minded attendees, who often do not attend real conferences, happily showed up under pseudonyms.
“Having the person next to you nodding, explaining things with their hands, looking at what you’re describing. It sounds simple but it makes the interaction feel a lot more ‘human’ than most online interactions,” Wertheimer told CoinDesk.
Like bitcoin, expect VR innovations to grow in stature as the list of nixed conferences continues to lengthen. Regardless of its defects, VR remains an attractive way to make the tent bigger for crypto.
Clearly, nausea beats the flu any day of the week.
• FluffyPony on Encryption, Clearview and How Coronavirus Could Impact Privacy
• Coronavirus Rate Cuts: Australia’s Central Bank Did It First || After Coronavirus ‘War,’ Bretton Woods-Style Shakeup Could Dethrone the Dollar: For governments, fighting the coronavirus pandemic is like fighting a war.
The leaders ofItaly,SpainandGermanyhave used the analogy – along with the CEOs ofBank of Americaand the U.S. telecommunications giantAT&T– to describe the mass-scale efforts needed to combat the disease: mobilizations of the health care industry, a retooling by factories to produce masks and makeshift morgues to accommodate afast-rising death count.
During a televised press conference this week, U.S. President Donald Trump characterized himself as a “wartime president.”
Related:World Health Organization Teams With IBM, Oracle on Blockchain-Based Coronavirus Data Hub
Now, it’s becoming clearer that the economic toll of the virus, as in a war, is likely to be dire. In the U.S. alone, a record 3.3 million jobless claims were filed last week. Deutsche Bank predicts the country’s job losses might exceed 15 million, with Europe approaching a similar level. Countries are prepping aid and stimulus packages into thetrillions of dollars, stretching already heavily indebted government balance sheets. Central banks led by the U.S. Federal Reserve have pledgednearly unlimited supportto financial markets. Investors have flown to safety in U.S. dollars, and in doing so driven downemerging-market currencies, inflicting additional economic damage on some of the world’s poorest countries.
See also:Why the US’ $2 Trillion Stimulus, Unlimited QE Will Expose the Monetary System’s Flaws
So with officials starting to envision what it might take to rebuild damaged economies and restore society to a semblance of normal, speculation is mounting that seismic shifts might be in the offing for the global monetary system — a phenomenon that historically has occurred in the wake of world wars.
ThinkBretton Woods, the historic gathering in 1944 at a mountaintop resort in New Hampshire, which set the template for the current system and entrenched the dollar’s near-century-long reign as the world’s dominant currency.
Related:How a Flurry of ‘Digital Dollar’ Proposals Made It to Congress
“I wouldn’t rule out anything at this point,” says Markus Brunnermeier, a Princeton University economics professor who has advised the International Monetary Fund, Federal Reserve Bank of New York and European Systemic Risk Board.
Even before the coronavirus hit, questions were percolating among some economists and monetary officials over whether the dollar-based system couldlast through the 2020s.
One concern is that monetary policy in the U.S. – actions by the Fed to maximize domestic employment and keep prices stable – reverberates through countries all over the globe, often saddling them with higher inflation whenever their currencies weaken versus the dollar; while exporters of raw materials or manufactured goods might become more competitive, consumers feel the pinch from higher prices for imported goods. Another factor is that so many commodities such as oil, copper and gold are priced in dollars, leaving producers including Russia, Brazil and South Africa at the mercy of foreign-exchange markets.
See also:Don’t Apply 2008 Thinking to Today’s Crisis
Bank of England President Mark Carney floated the idea of a “synthetic hegemonic currency,” possibly based onnew digital-asset technologies, to reduce the dollar’s “domineering influence” on global trade. China, the world’s second-largest economy, has been pressing forward with adigital version of its yuanthat might be used more widely in global trade. Facebook, the social network, proposed last year to create its ownpayment token, libra.Bitcoin, launched in the throes of the 2008-09 financial meltdown, offers another alternative.
“Eventually we’re going to get past this crisis,” said Tim Shaler, a former portfolio manager at the bond fund Pimco who now serves as chief economist foriTrust Capital, which allows clients to buy cryptocurrencies and physical gold through their retirement accounts. “If there’s a possibility to create some digital currency not tied to any domestic economy, there might be an opportunity for somebody to figure that out.”
It’s little surprise the Federal Reserve is intervening so deeply in U.S. markets during a time of crisis. That “quantitative easing” (QE) playbook was put in place by former Fed Chair Ben Bernanke, who garnered the moniker “Helicopter Ben” thanks to his advocacy for plying the financial system with large quantities of much money when needed. In a matter of months in 2008, from August to December, the Fed’s balance sheet doubled in size to more than $2 trillion. It doubled again during the next few years to over $4 trillion.
On Monday, the U.S. central bank, now led by Chair Jerome Powell, made an unprecedented pledge to buy bonds in unlimited amounts to support markets, while reviving 2008-era QE emergency-lending programs to ply banks, Wall Street dealers and even corporations with fresh liquidity. The new efforts could quickly balloon the Fed’s balance sheet to north of $8 trillion, says Stephen Cecchetti, who headed the monetary and economic department at the Bank for International Settlements in Basel, Switzerland, in the early 2010s.
If there’s a possibility to create some digital currency not tied to any domestic economy, there might be an opportunity for somebody to figure that out.
On Wednesday, lawmakers in Washington were negotiating a $2 trillion aid package, but the investment-research firm Evercore ISI predicted this week in a report that another $3 trillion might be needed. Some of the Treasury bonds issued to finance surging U.S. government budget deficits might get sopped up by the Fed.
“The central bank has to be a part of the war machine,” said Cecchetti, now a professor of international economics at Brandeis University.
Despite the flood of new dollars, the U.S. currency has surged in recent weeks to its strongest levels in three years. Inflation is muted, and the economy’s weakness means prices in the U.S. won’t be pressured upward anytime soon.
But the Fed’s trillions could eventually lead to higher inflation. There also might be a renewed outcry that such money injections merely bail out bankers and rich people, with few of the benefits going to the middle or lower classes – similar to the arguments of the Occupy Wall Street movement that followed the 2008 crisis.
Outside the U.S., central banks might emerge from the coronavirus shock with a stronger appetite for independence from American influence over the global monetary system.
See also:Geopolitical Crisis May Benefit Oil, Gold and CBDCs, Not Bitcoin
“It’s going to be interesting to see how it plays out when we have at least two major financial players that are going to emerge from this,” said Omer Ozden, CEO of RockTree Capital, a merchant bank with expertise in blockchain technology. “China will have its own thoughts and may take a different direction from, let’s say, a Bretton Woods-style global organization.”
It’s highly unlikely the global monetary system would see a negotiated accord along the lines of the Bretton Woods accord, which was joined by 44 countries, said Edwin Truman, a senior fellow at the Peterson Institute for International Economics who oversaw the Federal Reserve’s division of international finance from the late 1970s through the late 1990s.
Trump’s brash, freewheeling style and protectionist impulses in recent years have alienated former allies in Europe, and his border wall campaign has ratcheted up tensions with Mexico. He demonized China in last year’s trade war and recently referred to the coronavirus as the “China virus.”
See also:Bitcoin and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis
“One of the big challenges of today, in contrast to 2008-2009, is that the state of national cooperation is pretty low,” Truman said. “In order to do, collectively, a big change in the system, people would have to agree, and everyone seems to be fending for themselves.”
For George McDonaugh, CEO and co-founder of Isle of Man-based KR1, a publicly traded cryptocurrency investment company, it’s the head-scratcher of “helicopter money” that might ultimately raise fundamental criticisms of the current monetary system. Deep interest rate cuts and central bank money injections in ever-growing quantities appear to have become the default solution whenever a market crisis hits every seven to 11 years.
The Fed’s trillion-dollar money injections during the 2008 financial crisis did little to weaken the dollar’s dominance in the years since, but this time might be different.
“If someone on TV says we can have infinite money, someone on the other side of that TV screen says, ‘Why have I been working my ass off for the past 40 years?’” McDonough said.
• Don’t Apply 2008 Thinking to Today’s Crisis
• UK Counties Warn of Bitcoin Scams Using Coronavirus as a Hook || Ethereum Falls 10% In Selloff: Investing.com - Ethereum was trading at $126.27 by 23:38 (03:38 GMT) on the Investing.com Index on Saturday, down 10.16% on the day. It was the largest one-day percentage loss since March 16. The move downwards pushed Ethereum's market cap down to $14.17B, or 0.00% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B. Ethereum had traded in a range of $126.21 to $132.30 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a drop in value, as it lost 2.74%. The volume of Ethereum traded in the twenty-four hours to time of writing was $11.31B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $120.1977 to $142.8971 in the past 7 days. At its current price, Ethereum is still down 91.13% from its all-time high of $1,423.20 set on January 13, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $6,123.8 on the Investing.com Index, down 10.69% on the day. XRP was trading at $0.16741 on the Investing.com Index, a loss of 5.57%. Bitcoin's market cap was last at $113.33B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $7.44B or 0.00% of the total cryptocurrency market value. Related Articles Telegram Seeks Clarity On The Preliminary Injunction Against TON Cardano Falls 10% In Bearish Trade Litecoin Falls 10% In Selloff View comments || Hawaii Hints It May Relax Onerous Rule to Lure Crypto Firms: Hawaiian regulators have launched a digital currency sandbox initiative that exempts participating crypto companies from Hawaii’s infamous double-reserve requirement.
The “Digital Currency Innovation Lab” by Hawaii’s Department of Commerce, Division of Financial Institutions (DFI), and the Hawaii Technology Development Corporation (HTDC) will give “selected” firms a two-year reprieve from Hawaii’s state money transmitter license requirement, according to apress releaseshared Tuesday, as the state begins to developnew cryptocurrency legislation.
It may also mark the beginning of the end for perhaps the most restrictive state-level crypto licensing regimes left in the U.S.
Related:Traders Finding More Arbitrage Opportunities in Bitcoin
DFI never banned crypto businesses from Hawaii. But when theregulator decidedin 2017 that companies hold just as much fiat as their clients held crypto – the “double-reserve” requirement – previously licensed crypto companies, including Coinbase, fled the statearguing that themandate was irrational, untenable and bad for consumers.
DFI now appears to recognize that its bar was too high. Inthe sandbox initiative’s FAQ, HTDC writes that DFI “wanted to address the concerns” of businesses who could not meet the regulatory requirements.
A DFI spokesman confirmed that the sandbox does away with the double reserve requirement.
DFI pledged not to take action against sandbox participants, the press release said.
Related:Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations
“DFI is leveraging its statutory authority to provide an innovative way to introduce digital currency issuers into the State of Hawaii, while ensuring the safety of our consumers,” Iris Ikeda, Commissioner of Financial Institutions, said in the press release.
Ikeda further stated that the sandbox would allow regulators to “craft legislation that is conducive to [cryptocurrencies] development in Hawaii.”
Hawaii’s sandbox is not a regulatory free-for-all, according to the press release. Prospective companies must apply for entry via HTDC and pay a $500 application fee, plus $1,000 for each participating term. Companies haveuntil May 1 to apply.
• Gemini Continues European Expansion With New Institutional Sales Role
• Canada’s Financial Crimes Watchdog Gets Ready for FATF Compliance || FluffyPony on Encryption, Clearview and How Coronavirus Could Impact Privacy: The former lead maintainer of Monero and co-founder of Tari speaks about the state of global privacy
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
As the coronavirustook holdin China, officials in Hubei province tracked potential patients by examining purchase records for cough and flu medicine for the previous month.
Related:Leader to Watch: Elena Giralt Talks Zcash and Feminism
Welcome to the new frontiers of privacy. In this wide-ranging episode, @NLW chats with former lead maintainer of Monero and Tari co-founder Riccardo Spagni – aka @FluffyPony on Twitter – about privacy in the context of:
• The recent arrest of DropBit CEO Larry Harmon involving bitcoin mixer technology allegedly being used for illicit purposes
• The US government’s battle against end-to-end encryption
• Central bank digital currencies
• At-home devices such as Alexa and Google Home
• Clearview AI and facial recognition
• China’s response to coronavirus
• Why individual apathy is the greatest threat to privacy in the world
• Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Day
• Bitcoin News Roundup for March 6, 2020
• Clearview AI Lawyer Tor Ekeland Says Your Face Is Public Property || The Crypto Daily – Movers and Shakers -19/04/20: Bitcoin rose by 3.17% on Saturday. Reversing a 0.97% fall from Friday, Bitcoin ended the day at $7,268.8. It was a bullish day for Bitcoin on Saturday. Bitcoin rallied from an early morning intraday $7,031.1 to a late intraday high $7,309.7. The day-long rally saw Bitcoin break through the first major resistance level at $7,134.13 and second major resistance level at $7,222.47. Bitcoin came within range of the third major resistance level at $7,372.77 before easing back. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Saturday. Tezos and Ethereum rallied by 11.91% and 9.97% to lead the way on the day. Binance Coin (+6.59%), Bitcoin Cash ABC (+4.54%), Bitcoin Cash SV (+4.93%), Cardano’s ADA (+6.82%), EOS (+4.44%), Litecoin (+4.59%) also found strong support. Monero’s XMR (+3.27%), Ripple’s XRP (+3.42%), Stellar’s Lumen (+2.69%), and Tron’s TRX (+3.49%) trailed the pack on the day. Through the current week, the crypto total market cap rose to a current week high $210.44bn late on Saturday. Wednesday’s sell-off had seen the total market cap fall to a current week low $187.38bn. At the time of writing, the total market cap stood at $209.88bn. Bitcoin’s dominance eased back from 64% levels following Thursday’s and Saturday’s broad-based crypto rallies. At the time of writing, Bitcoin’s dominance stood at 63.4%. 24-hour trading volumes rose from sub-$120bn levels to reach a current week high $168.48bn on Thursday before easing back. At the time of writing, 24-hr volumes stood at $128.94bn. This Morning At the time of writing, Bitcoin was down by 0.58% to $7,227.0. A bearish start to the day saw Bitcoin fall from an early morning high $7,285.4 to a low $7,210.0. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV and Tezos bucked the trend early on, with gains of 0.34% and 0.10% respectively. It was a bearish start to the day for the rest of the majors, however. Binance Coin (-1.24%), Cardano’s ADA (-1.06%), and EOS (-1.45%) led the way down early on. For the Bitcoin Day Ahead Bitcoin would need to move through to $7,300 levels to bring the first major resistance level at $7,375.30 into play. Support from the broader market would be needed, however, for Bitcoin to breakout from Saturday’s high $7,309.7. Barring another broad-based crypto rally, the first major resistance level and Saturday’s high $7,309.7 would likely cap any upside. In the event of a broad-based crypto rally, the second major resistance level at $7,481.80 would come into play. Failure to move through to $7,300 levels could see Bitcoin fall deeper into the red. A fall through to sub-$7,200 levels would bring the first major support level at $7,096.70 into play. Barring a crypto meltdown, however, Bitcoin should steer of sub-$7,000 levels. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update – Closed on Bearish Side of Short-Term Retracement Zone Natural Gas Weekly Price Forecast – Natural Gas Markets Find Support The Crypto Daily – Movers and Shakers -19/04/20 Silver Weekly Price Forecast – Silver Markets Give Back Some Gains This Week The Crypto Daily – Movers and Shakers -18/04/20 European Equities: A Week in Review – 18/04/20 || Crypto-Powered Internet Helps Rural Residents Work From Home During Coronavirus: Once the coronavirus hit, registered nurse Shannon Garcia suddenly needed to work from home, like thousands of others in the U.S. Not only would her isolation make space in a crowded hospital, she’d keep herself safe. Having cardiac arrhythmia and lung damage, she’s more vulnerable to the global virus taking a toll on her health.
But she faced a serious problem: a lack of internet access. Internet service providers (ISPs) don’t deliver internet in Clatskanie, Oregon, where she and her family live on a farm surrounded by cattle ranchers. She couldn’t contact her pregnant patients over video chat to check up on them.
Perplexed about what to do, she stumbled upon a rather atypical organization, Althea Network, running near her local community. She “stalked” them, she said, until they came to her area.
Related:Bitfury Latest to Donate Crypto Mining Power to Coronavirus Research
See also:Letter From New Hampshire: the Dangers of Disinformation
By looking to this small cryptocurrency company, she was able to get the internet when big internet companies couldn’t help her.
This lack of home internet is common. More than a third (37 percent) of rural Americans don’t have broadband internet at home,according to Pew Research. Brookings Institutionarguesthis is partly because ISPs are less likely to provide infrastructure in rural areas. Even if broadband is available, it tends to be slower.
The coronavirus exacerbates the problem as millions of workers and students suddenly need to work or learn from home, or run the risk of spreading the coronavirus further. With no other options, these people might lose their jobs, an added strain to an already struggling economy.
Related:Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis
To keep people connected so they can keep their jobs and even access telemedicine, cryptocurrency project Althea is powering internet connections in a novel way. It uses cryptocurrency as a payment method for internet connections brought about by community-powered mesh networks. The network devices accept payment inether(ETH) or DAI, with the company considering adding other cryptocurrencies in the future.
“Many people don’t have proper internet infrastructure and we can rise to fill that need,” Althea co-founder Deborah Simpier told CoinDesk, adding the coronavirus crisis fills her with a greater sense of “urgency” than ever before.
Right now, Althea is building a broadband network in Washington, already with some success in delivering internet to people like Garcia who need it during this uncertain time.
Even before this crisis, access to the internet was a problem for many across the world, in what’s become known as the “digital divide.” And if it seems like the internet is ubiquitous in the U.S., costs and accessibility have long been problems for asignificant portionof the U.S. population.
The coronavirus hasmade matters worse, leading to rapid and often unsettling changes and making people even more dependent on the internet.
Now schools are closing to try to contain the coronavirus, impacting55.1 million students. Many of these kids are expected to turn to learning online. Butthree millionU.S. students don’t have their own access to the internet.
I am happy to be a relay because I can make money.
Simpier hopes Althea will be able to fill that need for some of these kids, so the company is working to grow its networks beyond Oregon. “Right now we are primarily working on expanding our networks,” Simpier said.
Up until December Althea has been putting a proof of concept together, and it has been mostly focused on Oregon, with networks splattered across the state. Now, with the pressing needs of the crisis, Simpier thinks there could be opportunity to build networks almost anywhere.
“This crisis is going to get worse in the coming months, so it’s important to start now,” she said in a recentcommunity call, calling on volunteers to build more networks.
They’re starting to spread, with networks of various sizes up and running in Tacoma, Washington; Denver, Colorado; and Abuja, Nigeria. And they’re planning to expand to Haiti, Ghana, North Carolina and Philadelphia.
It’s not just the U.S. that’s benefiting from this technology amid the crisis.
Helmed by small business owner Yakubu Yakubu (who goes by “Yax Yax”), the network in Abuja (Nigeria’s capital city) delivers internet to more than 20 people who didn’t have home internet connections before Althea came around (though they did have slow mobile connections).
Fatima Abdulhamid, who uses the network in Abuja, has been using the internet connection to work from home amid the pandemic. “It’s huge that she can stay at home and continue to learn online. And not only that, but this is a source of income for her,” Simpier argued.
Abdulhamid can earn money from this by contributing to the underlying infrastructure. Antennas that pass on the connection, called “relays,” are spread across different houses in the neighborhood. If someone is close enough to one of these relays, they can use it to connect up to the internet.
Abdulhamid runs one of these relays in her home, delivering internet to neighbors.
This is where cryptocurrency comes into the picture. Other members of the group connect up to Fatima’s relay node and pay her in DAI for her service.
“I am happy to be a relay because I can make money and I feel at home with the Althea network,” Abdulhamid said in a statement.
“As more relays are added south of her, her own business to be empowered to make additional income,” Simpier said. That’s one reason why Simpier thinks it’s so important for these networks to be built in emerging markets, it “empowers” people with an extra source of income, she said.
Simpier argues that Althea network is more flexible than what most ISPs, such as Comcast or Time Warner Cable, provide.
She started the project in Oregon in her rural hometown of Clatskanie. She was partly inspired by how an ISP did install a radio tower, but abandoned the project when they decided it just wasn’t worth it.
The Althea mesh networks are “often” less expensive, and generally just less of a hassle, than setting up a full-blown radio tower, Simpier argued. “The economics of centrally held infrastructure require thousands of dollars of upfront costs and a long term [return on investment (ROI)]. With decentralization, many different people can contribute capex to building and growing the network and benefit from the revenue generated,” she said.
See also:Is Bitcoin in 2020 Really Like the Early Internet?
Simpier argued this flexibility is suitable for this crisis, seeing as people need internet connections right now to work or learn. It isn’t exactly feasible to wait for expensive, giant radio towers to be built.
The goal right now is to figure out how to set up these networks in as little as two weeks to address the crisis.
Simpier hopes the network will grow on its own out of need, like a vine growing uncontrollably in several different directions. Anyone running one of the intermediary relay devices can make money and other people can add relays to broadcast the signal further..
Yax Yax in Abuja, for one, is trying to onboard as many people as possible. He’s just waiting for more antennas to be sent in so he can help to start another network in Lagos, Nigeria, about 434 miles away from Abuja.
• Remote Working Proves Unexpected Hero as Half of US Economy Shifts to Home Offices
• Letter from the Philippines: Life During Coronavirus || Blockchain Bites: WEF, IBM and a Chinese City Show Support for Blockchain: A Chinese city is encouraging bitcoin mining, a payments processor joins Libra and the World Economic Forum is looking to blockchain to solve supply chain distortions.
Situated amid the plateaus of the Szechuan province, Ya’an city is encouraging the blockchain industry to take advantage of excess hydroelectric power produced during the region’s summer rainy season. Without stating it outright, this public alert is a tacit approval of the energy-intensive bitcoin mining industry. Here’s the story:
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Related:First Mover: For Bitcoin Prices, Inflation Headlines May Matter More Than the Reality
Excess ElectricityA Chinese city in the world’s bitcoin mining hub is encouraging the blockchain industry to helpconsume excessive hydroelectricityahead of the summer rainy season. “On principle, blockchain companies should construct factories near power plants that have excessive power and are integrated with the State Grid,” reads guidance published by the city of Ya’an.
Latest MemberCheckout.com, an online payment processor, is thenewest member of the Libra Association.The company revealed Tuesday it would join the Libra Association in developing its series of stablecoins.
Bitcoin DevelopmentCardCoins, a startup that helps users convert gift cards to bitcoin, has partnered with fintech company Payvant to provide aone-year grant for Bitcoin Core developerHennadii Stepanov, who goes by Hebasto, joining the small ranks of firms that sponsor the open source development of Bitcoin’s software.
Solving Supply ChainsThe World Economic Forum ispitching blockchainto fix global supply chains disrupted by the coronavirus pandemic. “The case for blockchain is stronger as the COVID-19 pandemic underscores the need for more resilient global supply chains, trusted data and an economic recovery enabled through trade digitization,” according to the 200-page report “Redesigning Trust: Blockchain Deployment Toolkit.”
Related:Market Wrap: Bitcoin Edges Up to $7.7K as Mining Power Rebounds
Medical Market MakerIBM has also turned to blockchain during the current pandemic situation. The firm’s Rapid Supplier Connect blockchain network will connect buyers and suppliers of essential medical supplies during the COVID-19 pandemic. (Decrypt)
Pre-Fed ProtectionsA former senior policy advisor to the International Monetary Fund found emergency protections in the revised Libra whitepaper areinsufficient to present bank runs.In fact, Libra’s proposed protections are similar to the private clearinghouse certificates used in the U.S. prior to the establishment of the Federal Reserve. This private clearinghouse system “created a situation where not every dollar was as good as every other dollar.”
Made WholeDForce hasreturned all stolen assetsto users affected by the $25 million exploit that nearly crippled the decentralized lending platform.
Bank MonitoringCrypto investigations firm CipherTrace has developed abank transaction monitoring tool,CipherTrace Armada, that flags payments to high-risk virtual asset service providers (VASPs).
Gaming WarsExperimental Games’ CryptoWars will no longer run on the Plasma sidechain operated by Loom, while Loom appears to be pivoting away from gaming entirely. “No decent game can run nowadays fully on-chain, even though that was our gaming utopia,” Experimental CEO Matias Nisenson said.
Favorable Regulation?
• Congress has introduced32 crypto and blockchain billsfor consideration in the past two calendar years. These include bills aimed at regulating the industry as well as employing blockchain technology for government work. (Forbes)
• Malta, sometimes called “Blockchain Island” due to its favorable cryptocurrency regulations, said 57 crypto companies have failed to complete its licensing process. (Decrypt)
Satoshi’s MillionsCould $77 make you a Bitcoin millionaire?BeInCryptodives into the Crypto Twitter controversy.
CoinDesk Live: Lockdown Editioncontinues its popular twice-weekly chats with Consensus speakers via Zoom and Twitter, giving you a preview of what’s to come atConsensus: Distributed,our first fully virtual – and fully free – big-tent conference May 11-15.
Zoom participants can ask questions directly to our guests.Register to joinour fourth sessionTuesday, April 28, with speakerCarlos Acevedo of Braveto discuss financial inclusion in the cryptocurrency movement, hosted by Consensus organizer Stephanie Izquieta.
Seven Days of GainsBitcoin has postedseven consecutive daily gains,something that hasn’t happened since the price shot up to last year’s high around $13,000 in July. At $7,750, the cryptocurrency’s price is up 8 percent so far in 2020, and some analysts are predicting a rise to $10,000 ahead of the network’s programmatic halving event. According to Delphi Digital, any price rise could gather steam if bitcoin crosses above its 100-day and 200-day moving averages, now around $8,000. This insight is from First Mover, CoinDesk’s daily markets newsletter. You cansubscribe here.
Exhausted Bulls?Still, some anticipate thatbitcoin could pullbackbefore breaking above $8,000. “Feels like we have gone quite far over the last week and now there’s every chance of a small pullback (perhaps as far as to $7,000) over the course of the next few days,” Chris Thomas, head of digital assets at Swissquote Bank, said.
Cambridge SurveyCoinDesk is working with theCambridge Centre for Alternative Finance (CCAF), an independent academic research institute at the University of Cambridge, on their 3rd Global Crypto Asset Benchmarking Study. To gather up-to-date information, the CCAF invites crypto companies to participate by completing one of the following surveysby May 1:
• As an actor in thecrypto mining industry
• As acrypto asset service providerworking in payments, exchange or custody
The resulting report will help us all get a better idea of where growth is happening, what it looks like, what barriers are in the way and what the short-term outlook holds. If you have any questions or feedback, you can contact the CCAF directly [email protected].
Magdalena Gronowska, a member of the Official Committee of Affected Users and the Bankruptcy Board of Inspectors, goes on the record to discuss the efforts torefund $190 million user’s fundsfrom the bankrupted QuadrigaCX exchange.
• Hut 8: The Struggles of One of Canada’s Largest Miners
• Blockchain Bites: Capital-Constraining Compliance and Tether’s ‘Interoperability Bridge’
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Faces Further Losses After Rejection Near $11K Price Hurdle: View Bitcoin has created a rising wedge pattern on the 4-hour chart. A wedge breakdown, if confirmed, could yield a drop to levels below $10,000. Bitcoins recent recovery from $9,467 lacked high-volume support, so a rising wedge breakdown looks likely. The weekly chart is also flashing bearish signals. A high-volume move above $11,000 would invalidate the bearish case and allow a rise to $11,500. A weekly close (Sunday, UTC) above $12,000 is needed for a full bullish revival. Bitcoin is losing altitude after rejection near the psychological hurdle of $11,000 earlier today, and may fall below $10,000 in the next 24 hours. The leading cryptocurrency by market value rose to a high of $10,956 at 00:03 UTC today on Bitstamp, extending its recovery from the Aug. 15 low of $9,467. The rise to $11,000 was expected, as the cryptocurrencys hourly chart was reporting a high-volume ascending channel breakout or a bullish continuation pattern yesterday. Related: Bitcoins Price is Up More Than $1K Since Bakkt Futures News The momentum, however, soon petered out just short of $11,000 and prices fell back below $10,800 by 03:30 UTC. Another wave of selling hit the markets in the European morning session, pushing BTC lower to $10,550 in the 75 minutes to 09:00 UTC. As of writing, BTC is changing hands at $10,690 on Bitstamp, representing a 0.25 percent loss on a 24-hour basis. Prices are still up more than $1,000 from the low of $9,467 seen on Aug. 15. Investors have associated the recent recovery with Fridays announcement by the Bakkt exchange that it will be launching physically-settled bitcoin futures on Sept. 23, with some believing the news marks a long-term bullish development for bitcoin. In the short-term, however, there is a strong probability that BTC will fall back below $10,000, as the recovery from recent lows has taken the shape of a bearish reversal pattern. 4-hour chart Related: These Bitcoin Users Want DAI and DeFi Heres How They Plan to Get It Story continues BTC has created a rising wedge pattern on the 4-hour chart, comprising converging trendlines connecting higher highs and higher lows. The converging nature of the trendlines represents weakening bullish momentum. Hence, a breakdown is said to confirm a bullish-to-bearish trend change. As of writing, the lower edge of the rising wedge is seen at $10,494. A 4-hour close below that level would confirm a rising wedge breakdown that is, the bounce from $9,467 has topped out near $11,000 and the bears have regained control. A wedge breakdown, if confirmed, would open the doors to $9,974 (horizontal support line). A violation there would expose the Aug. 15 low of $9,467. The odds of BTC confirming a wedge breakdown in the next few hours is high, as the relative strength index has dived out an ascending trendline in favor of the bears. Further, trading volumes dropped during the recovery from $9,467, which usually happens during temporary corrective rallies. Weekly chart The 5-week moving average (MA) has crossed below the 10-week MA, confirming the first bearish crossover since February. The moving average convergence divergence (MACD) histogram continues to produce lower highs and is currently reporting the weakest bullish momentum in six months. The 14-week relative strength index (RSI) has also produced a bearish lower high. BTC fell 10.49 percent last week, strengthening the case for a deeper pullback put forward by the rejection above $12,000 two weeks ago. All-in-all, BTC risks falling below $10,000 in the next 24 hours or so. The bearish case would be invalidated if prices print a 4-hour close above $11,000 on the back of high volumes. That would signal a continuation of the recovery from the Aug. 15 low of $9,467 and allow a rise to $11,589 (resistance on the 4-hour chart). Disclosure: The author holds no cryptocurrency assets at the time of writing. Bitcoin image via Shutterstock; charts by Trading View Related Stories Bitcoin Defends Price Support, But Bear Case Still Intact $9,650: Bitcoin Price Dips Below Key Long-Term Support || Oil Prices Jump on Third Straight Week of Inventory Declines: This article was originally published on ETFTrends.com. It was a case of now you see it and now you don’t for oil traders this week as the Energy Information Administration on Thursday reported that U.S. crude supplies declined by 4.8 million barrels for the week ended Aug. 30. Before this data was released, the American Petroleum Institute on Wednesday reported an increase of 401,000 barrels. “API report has been proven to be a head-fake,” said Matt Smith, director of commodity research at ClipperData. “The EIA has reported a solid draw to crude stocks, with refining activity at a similar pace to last week, production dipping slightly, and exports holding above 3 million barrels per day for a second week—a hat-tip to Permian pipelines,” Highlights from the report: U.S. crude oil refinery inputs averaged 17.4 million barrels per day during the week ending August 30, 2019, which was 27,000 barrels per day less than the previous week’s average. Refineries operated at 94.8% of their operable capacity last week. Gasoline production decreased last week, averaging 10.3 million barrels per day. Distillate fuel production decreased last week, averaging 5.2 million barrels per day. U.S. crude oil imports averaged 6.9 million barrels per day last week, up by 976,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.9 million barrels per day, 12.5% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 717,000 barrels per day, and distillate fuel imports averaged 126,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.8 million barrels from the previous week. At 423.0 million barrels, U.S. crude oil inventories are at the five year average for this time of year. Traders looking to make a play on oil can look to leveraged exchange-traded funds (ETFs). Whether they’re bullish or bearish on the commodity or the energy sector, traders have a plethora of options. Story continues Oil bears can look to the Direxion Daily S&P Oil & Gas Exploration & Production Bear 3X ETF (DRIP) for inverse opportunities. For bulls looking to buy on the weakness can look to the United States 3x Oil ( USOU ) , ProShares UltraPro 3x Crude Oil ETF ( OILU ) and the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares ( GUSH ) . Two additional funds for traders to consider are the Direxion Daily Energy Bull 3X Shares ( ERX ) for bullish plays and the Direxion Daily Energy Bear 3X Shares (ERY) for bearish opportunities to take advantage of. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty Q&A With Barry Ritholtz on New WealthStack Conference READ MORE AT ETFTRENDS.COM > || FinCEN Director Reminds Casinos of Crypto Compliance Requirements: The director of the Financial Crimes Enforcement Network (FinCEN) said the casino industry needs to up the ante on reporting suspicious activities related to digital currencies. Speaking at an Anti-Money Laundering Conference in Las Vegas on August 13, FinCEN director Kenneth Blanco said the agency has not received the amount of suspicious activity reports (SARs) expected. “There is a misconception that just because FinCEN has not publicly issued enforcement action against a casino or card club since last year that FinCEN is not looking at this financial sector,” Blanco said. “Let me assure you, this is not the case.” Related: Prosecutors File Formal Complaint Against Infamous BTC-e Crypto Exchange According to regulatory guidelines published in May, casinos and card tables are required to identify and report “red flags” that point to potential instances of money laundering, sanctions evasion, and other illicit financing purposes” using cryptocurrencies. This is in light of casinos being targets for malware scams and “business e-mail compromise schemes.” “Casinos should be filing SARs (suspicious activity reports) when they encounter suspicious [convertible virtual currency] activity and any cyber events that affect, facilitate, or conduct transactions,” he said. Additionally, casinos must set policies, procedures, internal controls, and risk assessments related to crypto assets. Related: US Lawmakers Question Terrorist Use of Facebook Cryptocurrency Blanco raised several questions related to due diligence: “How will you conduct blockchain analytics to determine the source of the CVC? How will you incorporate CVC-related indicators into your SAR filings as appropriate?” Blanco further drew a distinction between registered casinos or card tables and online gaming sites that function as money transmitters. Licensed casinos, online or offline, must comply with the Bank Secrecy Act (BSA) and any laws related to money services businesses, and later called compliance “a national security issue.” Story continues “We know the kind of significant information that casinos are able to develop on gaming customers. This information is extraordinary and relevant,” he said. Kenneth hopes that casinos will create a “culture of compliance” where distinct entities share information among themselves and with the proper authorities. Chips, poker, gambling photo via Shutterstock Related Stories FinCEN Says Some Dapps Are Subject to US Money Transmitter Rules In First, FinCEN Penalizes Bitcoin Trader for Violating AML Laws || Exchanges divided over LEO’s regulatory future: How isBitfinex’s LEO token faring, a week after the New York Attorney General’s Office hinted that it might be an unregistered security?
Bitfinex says it sold one billion LEOs to investors in May, in an effort to increase liquidity after the NYAG discovered and made public—along with a surfeit of other unflattering details—an $850 million hole in its finances.
But last week, the NYAG wrote in another damningcourt filingthat the sale had “every indicia of a securities offering”—as is the case with traditional securities, Bitfinex has promised its buyers dividends, which depends largely on its own performance as a company. Bitfinex has also pledged 27 percent of its revenue to buying the tokens back from investors and then “burning” them—a means of artificially inducing scarcity and keeping the price up.
Sounds very security-ey. So has there been a fallout?
For exchanges listing the token, it could have been a cause for alarm—with federal regulators cracking down heavily on unregistered securities offerings, what savvy business wants to be seen hawking illicit LEOs?
Quite a few, it turns out.
Only one exchange appears to have made any effort to distance itself from the LEO. IDEX, which bills itself as the “Number 1 Hybrid DEX on Ethereum,” announced soon after the NYAG’s filing that it haddelisted the token, and that withdrawals would instantly cease. But IDEX is registered in Panama, and will not obviously fall foul of securities laws, so it’s unclear why the rush. (It may be because of the Martin Act, which permits US regulators to pursue foreign securities offerings. Regardless, IDEX did not respond for comment.)
But most of the exchanges listing LEO are so far removed from US jurisdictional squabbles they don’t seem to care. While OkEX—a Malta-registered exchange that is one of the largest to list the token—vows to “constantly review the performance of listed projects to ensure a robust ecosystem,” there are no qualms about continuing to list LEO. “As for now,” a spokeswoman toldDecrypt, “LEO is without violation of our guidelines. However, we will continue to closely monitor the situation.”
A spokesman for C2CX, another non-US exchange that also lists LEO, was similarly nonchalant. “We do not accept US residents as customers, so the legal status of LEO in the US does not affect us,” he said.
Still, there are lingering questions about the mechanism of the LEO token sale itself. The NYAG, in its submission last week, asked how Bitfinex could possibly hope to repay its investors while simultaneously maintaining liquidity for traders, given the massive hole in its finances.
According to a source familiar with the matter, Bitfinex has enough money to satisfy these seemingly conflicting tasks, and the LEO raise is just a short term fix for immediate cash-flow problems. “The company has lots of money and lots of revenue,” he said. “The $850 million is customer funds, so [the purpose of the LEO sale] is to make sure there is enough liquidity to cover customer withdrawals—it’s to cover liquidity/cash flow in the short term rather than recapitalize for the company.”
One such revenue stream is the exchange’s burgeoning token sale platform, Tokinex. Bitfinex sells other crypto companies’ tokens, levying a “success fee” if the sale goes well. One such offeringtook placetoday, reaching its $5 million goal in 35 seconds. The exchange itself supposedly doesn’t invest in these sales, but staffers and executives might. “We only chose tokens we believe in, so some of the team do,” said the source. “At the same terms as everyone else.”
But efforts to keep LEO lucrative aren’t washing with seasoned traders.Over the past week, the token has suffered a ten percentage-point drop in value, from $1.66 to $1.55—despite, as some disgruntled investors say, efforts to strip out the supply and control the price. (Around $4.6 million worth of LEO hasapparentlybeen burned so far.)
One trader, “Ivan,” noted on the Bitfinex Telegram group that the aggressive buybacks had failed to curb the price downtick, and said interest in the coin appeared “not so great.” Of course, it could just be correlated with the rest of the market—Bitcoin dropped by nearly $3,000 over roughly the same time period. But LEO’s descent began themomentthe NYAG called it a security. Something’s gotta give. || Bitcoin rises 5% as Chinas yuan sinks to 11-year lows against US dollar: Chinas currency yuan (or renminbi) has plunged to 7.03 a U.S. dollar, a level not seen since March 18, 2008. The exchange rate between the two currencies has weakened by over 2%. The yuan has dropped to 4,157-day lows after the Peoples Bank of China (PBoC), the countrys central bank, set its daily reference rate for the currency at 6.9225, the lowest rate since December. Bitcoins price since then has risen by nearly 5% and is currently trading at around $11,561. The PBoC has reportedly fixed the reference rate as an answer to U.S. President Donald Trumps tariffs decision. Trump has decided to levy a 10% tariff on an additional $300 billion in Chinese imports from Sept. Join Genesis now and continue reading, Bitcoin rises 5% as Chinas yuan sinks to 11-year lows against US dollar ! || IRS Warnings to Bitcoin Traders Offer Clues to Coming Tax Guidance: The Takeaway:
• The IRS’ recent warning letters to 10,000 traders offer hints at what its forthcoming guidance on crypto taxes might say.
• While the letters are not guidance, the tea leaves indicate the IRS might be changing its required methods for calculating the value of crypto holdings and the forms and schedules for reporting them.
• Major questions remain unresolved, including how hard forks and airdrops should be treated.
As U.S. cryptocurrency users eagerly await tax guidance from the Internal Revenue Service (IRS), they can find hints of what may come in the agency’s recent warning letters.
The tax collector said earlier this year that its first guidance on crypto since 2014 iscoming,but it’s not clear what information will be providedor when it will be published. (IRS Commissioner Charles Rettig saidat the end of Maythat guidance could come “within the next 30 days,” but that loose deadline passed.)
Related:North Carolina Congressman Reintroduces Crypto Tax Bill
Yet thethree form letters, sent last month by theIRSto more than 10,000 crypto traders, asked taxpayers to verify that they filed their taxes due on crypto gains and losses correctly, or amend their tax filings (one under penalty of perjury). And reading between the lines, the letters suggest changes in the agency’s approach to the asset class when compared to past public statements.
Take, for example, how thethreenewlettersinstruct traders to calculate the fair market value of cryptocurrency holdings.
The letters tell traders to look at the exact date and time they conducted a transaction, diverging from itsguidance from 2014, which said to apply “the exchange rate, in a reasonable manner that is consistently applied.”
As an illustration, say you bought 5 bitcoin onApril 10, 2015. The 2014 guidance says to pick a price at some point during the day and use that to calculate fair market value. Bitcoin opened at a price of $243.69, fell as low as $232.77 and closed at $236.07, according to CoinMarketCap. Any of these prices could work, as long as all calculations for all taxes were consistent.
Related:IRS Says It’s Sending Warning Letters to US Cryptocurrency Owners
The recent letters instead direct you to look at the exact time you bought the 5 bitcoin and use the price at that time to calculate the value.
That’s more sensible, in the view ofJames Foust, a senior research fellow at industry advocacy group Coin Center.
“If someone has multiple transactions over the course of a day and there’s significant volatility it doesn’t make sense to apply the same daily exchange rate, and also it could result in some weird outcomes,” Foust said.
However, this may pose an issue for traders who now have to find this information, said Sean Ryan, chief technology officer and co-founder at crypto tax software provider Node40.
He noted that the letters call for taxes on transactions conducted between 2013 and 2017, adding:
“Now they say date and time and that does matter because we know that virtual currencies fluctuate minute-to-minute, trade-to-trade. So by saying it’s no longer susceptible to ‘date accurate’ and has to be ‘date and time accurate’ it throws a wrench in the system because they have to go back and find that [information].”
The letters also diverge from past efforts to collect information about crypto traders.
The IRS has previously asked exchanges to generate 1099-K forms for customers, which are usually used for payment settlement organizations, Foust noted, meaning merchants receiving revenue through a particular income stream.
“That’s not helpful for paying taxes because the overwhelming majority of [customers] are not receiving payments on exchanges, they’re buying digital currencies,” he said. It could also lead to confusion with buys and sells. Foust explained:
“Say you buy for $10,000 and sold for $9,000, the IRS would see that as you received a payment for $9,000, not a $1,000 loss.”
“It’s not super-clear why the IRS … decided to get the exchanges to use the 1099-K form to report this customer information but that’s sort of the world that we’re in right now,” Foust added.
The exchanges generating the 1099-K forms would provide them to both the taxpayer and the IRS, but the information included “is almost never going to be correct,” Ryan said.
By specifying a different schedule, and therefore different form, in one of the letters, the IRS is essentially saying that the correct form is actually the 1099-B, he said.
According to Ryan, one of the schedules listed in one of the letters is Schedule D, which is for reporting gains and losses from capital assets.
The letter itself notes that “if you sold, exchanged, or disposed of virtual currency (e.g. Bitcoin, Ether), or used it to pay for goods or services, you have engaged in a reportable transaction.”
The information that needs to be reported would be listed inform 8949, which in turn would normally derive its data from the 1099-B, Ryan said.
Foust added that if an exchange were to provide a 1099-B, “you often don’t have to [fill out] form 8949 at all because the 1099-B is supposed to give you all that information.”
Like with the 1099-K, exchanges would also provide that information to the IRS.
Foust noted that the IRS’s letters are not actual guidance, but still, “it’s nice guidance to get.”
“It’s the kind of thing you would hope would come in the form of guidance and not in the form of educational letters sent to a few thousand taxpayers and [everyone else] has to read the tea leaves,” he added.
Lisa Zarlenga, a partner at law firm Steptoe & Johnson who focuses on taxes and related issues, said it is likely that the IRS group developing new guidance is not coordinating with whichever team wrote the letters. Any new guidance will have to pass through several layers of approval, including the U.S. Treasury Department (which the IRS falls under).
Any individual who received a letter likely did so because the IRS has evidence that they made cryptocurrency trades, she said.
“Some people are complaining, ‘well you haven’t issued guidance, therefore, you shouldn’t be enforcing,’” she said. “These letters are saying ‘if you use virtual currency and you made a gain from it you should be reporting.’”
The IRS did not respond to a request for comment by press time.
Zarlenga said the letters may not be inconsistent with past guidance. In her view, the IRS is most likely just looking for individuals who did not report any gains or losses from crypto transactions, despite having conducted them.
“I don’t think this indicates a change in their position at all. I think these letters are getting at basic reporting on gains and losses in the use of cryptocurrency,” she said.
By and large, last month’s letters aren’t even “treading new ground,” Zarlenga said. Taxpayers need to be able to indicate when they bought a cryptocurrency, when they sold it, how much it cost when they bought it and how much it cost when they sold, the letters said.
The U.S. is in good company trying to collect taxes from its crypto-trading residents. The U.K.’s HM Revenue and Customs recently asked crypto exchanges toprovide information about their customers, including transaction history, while the Australian Tax Organization announced in April it would collect data to helpensure residents paid the appropriate amount of tax.
All three countries are members of the J5,a multinational collaboration between tax agenciesto combat money laundering and other illicit behavior. Cryptocurrencies are one stated focus for the group.
Since its first (and so far only) official guidance on crypto taxes in 2014, the IRS has offered glimpses as to how taxpayers can file returns through other actions, such as its requests for information from exchanges like Coinbase.
However, even last month’s warning letters leave some of the largest questions around paying taxes on crypto unanswered, Foust said.
“We’re sort of in an unfortunate situation right now because the IRS hasn’t provided substantive guidance on how people are supposed to report their virtual currency transactions and calculate what their tax burden is,” he said.
The implications, he added, are:
“People are being put in a position where they’re being asked to certify in one of those letters certify under penalty of perjury that they’ve [abided by] rules that haven’t been published yet.”
The most obvious question revolves around forks, or events that create a new cryptocurrency available to holders of an old one, Ryan said.
“The IRS has been completely silent on ‘now is that income? You just doubled your quantity, not your value, your quantity,’” he said. “If they’re going to consider that income they have to tell you how to assign cost basis because there’s no trading history.”
In his view, forks should not be considered income.
Likewise, the tax treatment of airdrops, or giveaways of a cryptocurrency to spur adoption, remains an open question.
Depending on the circumstances, a taxpayer may or may not be able to opt in to receiving tokens through an airdrop.
If a wallet provider or other service automatically airdrops tokens to all users, Ryan said, that should not be considered income.
On the other hand, he said, “if you opt in to an airdrop I think you should report that as income.”
IRSimage via Shutterstock
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• What to Expect When the IRS Alters Its Bitcoin Tax Policy || Tech Retailer Newegg Expands Bitcoin Payments to Another 73 Nations: Related:SWIFT Gives Blockchain Platforms Access to ‘Instant’ GPI Payments Following R3 Trial
• Crypto App, Debit Card 2Gether Adds Dash to Roster of 9 Tokens
• Breez Reveals Lightning-Powered Bitcoin Payments App for iPhone || Bitcoin Tech Analysis Recap and Mid-Day Review: Bitcoin tumbled by 7.72% on Wednesday. Following on from a 4.44% fall on Tuesday, Bitcoin wrapped up the day at $10,064.6. Bearish from the start of the day, Bitcoin fell from an early intraday high $10,909 to a late morning low $10,403. The early pullback saw Bitcoin fall through the first major support level at $10,646.67. Bitcoin found support through the late morning to move back through the first major support level before succumbing to market forces. A broad-based crypto sell-off saw Bitcoin slide to a late intraday low $9,966 before recovering to $10,000 levels. The afternoon sell-off saw Bitcoin fall through the first major support level at $10,646.67 and second major support level at $10,389.33. Bitcoins fall to sub-$10,000 was the first since 1 st August. For the Bitcoin bulls, the near-term bullish trend, formed at mid-Decembers swing lo $3,215.2 remained intact. Bitcoin continued to find support above the 38.2% FIB of $9,734. 5 days in the red out of the last 6 left Bitcoin in the red for the current month, however. To Tuesday, Bitcoin was down by 0.23%. While Bitcoins dominance held relatively steady at 68% levels, the sell-off saw Bitcoins market cap slide from $190bn levels to a low $172.99bn before finding support. At the time of writing, Bitcoins market cap stood at $178.49bn. There were no major news events that contributed to the recent downward trend. Risk aversion across the more mature asset classes, however, failed to provide support. The latest moves suggest that Bitcoin and the broader crypto market are yet to be considered a safe haven. This Morning At the time of writing, Bitcoin was down by 1.34% to $9,929.5. A mixed start to the day saw Bitcoin rise to an early morning high $10,249 before hitting reverse. Falling well short of the first major resistance level at $10,660.4, Bitcoin slid to a mid-morning low $9,522. The early morning sell-off saw Bitcoin fall through the 38.2% FIB of $9,734 and first major support level at $9,717.4. Story continues Bitcoin found support from the broader market in the last hour, leading to a move back through the first major support level and 38.2% FIB. For the Day Ahead Holding above the 38.2% FIB of $9,734 through the early afternoon would support a run at $10,000 levels. Bitcoin would need the support of the broader market, however, to take a run at the morning high $10,249. Barring a broad-based crypto rebound, Bitcoin would likely fall well short of the first major resistance level at $10,660.4. Failure to hold above the 38.2% FIB of $9,734 could see Bitcoin slide deeper into the red. A fall back through the first major support level to $9,500 levels would bring the second major support level at $9,370.2 into play. Barring another crypto meltdown, however, we would expect Bitcoin to steer clear of sub-$9,000 support levels. Click here to Get Into Cryptocurrency Trading Today The article was written by Bharat Gohri , Chief Market Analyst at easyMarkets This article was originally posted on FX Empire More From FXEMPIRE: China Fixes Weaker Midpoint, Aussie Firms on Blowout Job Gains, RBA Warns of Self-fulfilling Downturn Stocks and Currencies Recover Despite The Yield Curve Inversion Volatile Markets Poised To Move Lower, Recession Fears Mount, China Vows Retaliation Oil Price Fundamental Daily Forecast Threat of Chinese Counter-Measures Weighing on Prices Washout Wednesday EUR/USD Daily Forecast Range Break Sets Tone Ahead of US Retail Sales || Crypto Prices Gain; U.S. Committee Hearing for Digital Coins, Blockchain in Focus: Investing.com - Prices of major cryptocurrencies rose on Wednesday in Asia as the U.S. Committee on Banking, Housing and Urban Affairs held a hearing entitled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” overnight.
Bitcoin rose 1.6% to $9,669.9 by 11:55 PM ET (03:55 GMT). Ethereum gained 1.4% to $210.32. XRP traded 3.1% to 0.31804. Litecoin climbed 2.1% to $90.998.
During the hearing, comments by Nevada’s senior senator, Catherine Cortez Masto received some attention as she said that blockchain technology has potential and isn’t going away.
“I do think that blockchain technology … there’s potential for it. It’s a platform that has the ability to transform so many sectors of this country from, what we are talking about right now – the financial sector, to the energy sector, to healthcare records, to everything. I think there’s potential here and it’s not going to go away. It is something we will have to address because if we, as a country, do not lead in this technology, China or some other country is going to do so,” she said.
Senator Sherrod Brown, Ranking Member on the Committee, was more sceptical.
He used previous innovation such as the sub-prime mortgages as an example that if not managed properly, new technology and innovation could potentially slam the economy into recession:
“Just like Facebook (NASDAQ:FB) – which claims its new currency will help the unbanked and underbanked – these mortgages were supposed to help people who never had access to credit achieve the American dream of homeownership,” Senator Brown stated. “In reality, those mortgages ripped off millions of families who ended up losing their homes, they wrecked the economy, and they made the staggering inequality in this country even worse.”
The hearing takes place after the House Financial Services Committee grilled Facebook earlier this month over plans to launch Libra, its own digital coin.
The company’s crypto chief David Marcus said at the time that Facebook would wait to have all regulatory approvals and address any concerns before proceeding with the launch.
In other news, Ripple CEO Brad Garlinghouse told Bloomberg in an interview that a “new fiat currency” isn’t needed and that the dollar is perfectly suitable.
“Financial regulation matters. Know your customer and anti-money laundering, and anti-terrorist financing… these are important foundational pieces of our financial system, and we need to make sure that the future constructs keep that in mind,” said Garlinghouse.
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Major Indian Trade Organization Speaks Out Against Proposed Crypto Ban || Ex-CEO of Crypto Exchange WEX Arrested In Italy: Dmitri Vasilev, the former CEO the now defunct crypto exchange WEX, was arrested Friday in Italy, the BBC’s Russian Servicereported.
The publication cites Vasilev’s acquaintance and two anonymous investors in WEX who told BBC about the arrest. The attaché of the Russian embassy in Italy, Dmitri Gurin, declined to provide any details, as did the Italian financial police (Guardia de Finanza).
WEX was launched in 2017 as a successor of also defunct exchange BTC-e, whose alleged operator, Alexander Vinnik was arrested in 2017 in Greece and nowfacing extraditionto the U.S., France or Russia.
Related:Alleged BTC-e Operator Alexander Vinnik Seeks Extradition to Russia
WEX was launched by Russian citizen Vasilev and operated for a year, until itfrozewithdrawals in July 2018 and hasn’t restored normal service ever since. The troubles started soon after Vasilev tried to sell WEX to Dmitri Khavchenko, a militia fighter in the war in Eastern Ukraine.
Khavchenko told CoinDesk last year that WEX’s admin (who, like the rest of the support team, was anonymous) didn’t like him as the new owner and disappeared with the keys.
He also said at the time that the purchase deal was complete. Khavchenko later changed the official owner of the Singapore-registered exchange to his daughter, Daria, he also told CoinDesk.
In the meantime, over the summer and fall of 2018, almost $19 million worth of ethermovedfrom the exchange’s cold wallets to the popular crypto exchange Binance.
Related:Crypto Exchange WEX Linked to Iranian Ransomware Operators, Says PwC
Responding to the outcry on Twitter, Binance CEO CZsaidthat WEX’s accounts on Binance had been frozen. The fate of those funds is unclear since then.
Users, mostly from Russia and neighboring countries, who were unable to get back their crypto and fiat deposited with WEX, startedfiling police reportsin the fall of 2018. According to BBC, the Kazakhstan national police started a criminal investigation of Vasilev based on one such report, as well as the police of the Russian city of Tolyatti, which started a separate preliminary investigation.
The users even wrote an open letter to Russia’s president Vladimir Putin, asking for justice and their money back, the Russian crypto media site Forklogreportedin April. The users were notified that the letter was then passed to Russian police headquarters.
In March of this year, the auditing firm PwCreportedthat two Iranian citizens, Faramarz Shahi Savandi and Mohammad Mehdi Shah Mansouri, who are said to have created the SamSam ransomware, had been using WEX to launder over $6 million collected in ransom payments.
BTC-e was earlierlinkedto the theft of bitcoin from the storied crypto exchange Mt.Gox. According to a Wall Street Journalreport, “BTC-E appeared in 60 to 70 percent of all criminal cryptocurrency cases through 2016.” Both BTC-e and WEX were slow to introduce know-your-customer procedures and had anonymous support teams.
Image ofDmitrii Vasilev, ex-CEO of the crypto exchange WEX, via YouTube
• Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange
• Police Filings Mount as Investors Demand Funds from WEX Exchange
[Random Sample of Social Media Buzz (last 60 days)]
Hello new concept ,
Bitcoin wallet , Stellar wallet
Bitcoin cash wallet , Dash wallet
#Wallets
#cryptocurrency
#bitcoins https://t.co/oyo64apPQ3 || #Volume Bot:
$LTC 0.00747900
15.18 BTC at Minute 30
0.8% of Daily Volume
UTC Time: 16:30:04
Join us on Discord: https://t.co/WEl019K16x https://t.co/q8C3fVnZln || Wow, hopefully they're all just hodlers 😂 || Pay both my payday loans. Rent,DTE, help bus fund at my church. 10%
To my church. Then help everyone I can!!! God willing this is my turn for a blessing and to be a blessing $BardelAbu || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || 80 btc or Cashapp HMU MM accepted at your costs https://t.co/uxYYBHfQOE || Bitcoin’in Yükseleceğine Olan İnanç Günden Güne Artıyor https://t.co/onIW8P6qoj #bitcoin #BTCUSD #cryptocurrency #cryptotrading || 🚀 $EGT may go up
⛔ BINANCE
📈 COINMARKETCAP: https://t.co/ibOauZwG5f
⛔ BITTREX
📈 COINMARKETCAP: https://t.co/ibOauZwG5f
💱 Price: 0.00000750 BTC
📊 1H: 2.62%
📊 24H: 3.62%
📊 7D: 59.15%
💰 24H Vol: $57,974,725
ℹ This is not an investment advice. #DYOR #YTD #Robostopia || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Winklevoss Twins Voice Approval of Libra Project | The Home of Altcoins: All About Crypto, Bitcoin & Altcoins - Coinlist https://t.co/MWekta7Oxx
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Trend: down || Prices: 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees: Bitcoin Satoshi’s Vision, the controversial blockchain promoted by Craig Wright, is winning in digital-asset markets this year, with a token that has brought investors triple the returns of its better-known ancestor, bitcoin.
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Bitcoin SV, or BSV as the token is known, has risen 96% so far in 2020, versus a 36% gain for bitcoin (as of Monday). It’s also beating the 18% year-to-date return for bitcoin cash (BCH), another offshoot from bitcoin.
The project, which split off from bitcoin following a series of disputes in 2017 and 2018, has faced accusations in the past that its token’s price isprone to manipulation. And Wright, who leads the BSV community through his software company nChain and claims to be bitcoin founder Satoshi Nakamoto, is embroiled in a lawsuit with his late business partner’s estate. He was recently described as a“fraud” in a public message signed with bitcoin addresses he claims to own.
But some investors and developers say Bitcoin SV has technical advantages over bitcoin and other cryptocurrencies that make it a worthy blockchain to build applications on. Those include Twetch, a social media platform based on Bitcoin SV that grabbed headlines last week when its Twitter account was briefly suspended; just hours before, the company had sent a tweettrolling Twitter CEO Jack Dorseyfor fact-checking a post by President Donald Trump.
“We think this represents an incredible opportunity for anyone looking to buy in more cheaply to make a long-term investment on the only blockchain trying to scale and have mass adoption as a database,” Zack Resnick, managing partner of the money managerUnbounded Capital, wrote in an email. The firm invests in BSV tokens as well as projects focused on the blockchain.
It’s beenjust over a yearsince the giant cryptocurrency exchange Binance delisted BSV, with CEO Changpeng “CZ” Zhao tweeting at the time that Wright was a “fraud” and that “the real Satoshi can digitally sign any message to prove it.” In an interview in October with the publication Coin Rivet, Wright called CZ a “lowlife. Not exactly taking the high road.
Related:First Mover: BSV Doubles in 2020 as Bitcoin Offshoot Wins Devotees
The driving force behind BSV’s split from bitcoin during the late 2010s was the idea that a blockchain should be “scalable” – that is, able to smoothly handle a sudden surge in usage, similar to the way the virtual-meeting platform Zoom suddenly on-boarded millions of new customers during the first few weeks of coronavirus-related lockdowns.
Bitcoin SV’s backers say large data-block sizes, compared with those on the Bitcoin blockchain, could improve the network’s scalability. Bitcoin SV pushed to increase block sizes to 132 megabytes, compared with 32 megabytes for BCH and one megabyte for Bitcoin. And in February, BSV implemented a system upgrade that removed the size limits and enabled scaling up to 2 gigabytes per block.
According to the data aggregator Coin.Dance, the Bitcoin SV blockchain’s daily average transaction throughput exceeds levels for both Bitcoin and Bitcoin Cash.
Some Bitcoin SV critics say the data isn’t what it seems.
Moe Adham, CEO of crypto ATM operatorBitaccess, told First Mover in a direct message that he suspects much of the network’s transaction volume is “spam.”
“No exchanges support it, no services support it,” Adham said. “The only activity I know of is people dumping BSV to get out.”
Trading the token carries risks, such as thin liquidity on exchanges. Despite the ejection from Binance, BSV does retain listings on the cryptocurrency exchanges Huobi, OKEx and Bitfinex. But daily trading volume on legitimate exchanges averages about $30 million, compared with close to $2 billion for bitcoin, according to Messari data.
Such risks don’t seem to deter developers choosing the platform. Calvin Ayre, an online casino billionaire who hasbrushed with U.S. law enforcementand whosebusiness interests include BSV mining, says on his holding company’s website that the token is the “one and only bitcoin.”
Twetch founder Billy Rose said he likes the Bitcoin SV blockchain partly because the network can handle more than a million transactions in a single data block, versus about 3,500 transactions per block on the Bitcoin blockchain. That’s key for the social-media platform because every post, like and reply on Twetch is archived on the blockchain, and each of those is essentially a microtransaction, according to Rose.
“BSV enables these low-fee microtransactions and on-chain scaling,” Rose told First Mover in an email.
Ryan X. Charles,the first cryptocurrency engineer hired at Redditin 2014, told First Mover in a phone interview that BSV could be ideal for sending small amounts of value, known as micropayments, across the internet or on social media. Charles is the founder and CEO ofMoney Button, which can be used to send payments over the BSV blockchain.
“BSV has been making a steady gain this year due to adoption of real-world applications being deployed using the platform,” Jerry Chan, CEO ofTAAL, which provides mining and software services for bitcoin SV, wrote in an email.
Trend: Bitcoin has pulled back slightly from the overnight high of over $10,300, but remains safely in bullish territory.
The top cryptocurrency by market value is currently trading near $10,130, having hit a 3.5-month high during the late U.S. trading hours on Monday.
With a convincing move above $9,800, the cryptocurrency has broken out of a near month-long narrowing price range, as seen on the daily chart. Prices have now formed a pennant breakout, a bullish continuation pattern that often accelerates the preceding uptrend.
As such, stronger gains could be in the offing, more so, as both the daily and weekly chart relative strength indices (RSIs) are reporting bullish conditions with above-50 readings. The weekly MACD histogram, too, is signaling stronger upward momentum with higher bars above the zero line. And last but not the least, the daily chart shows agolden crossover, a long-term bull market indicator.
So, the charts look to have aligned in favor of stronger gains, possibly to $11,000 and higher. Popular analyst Josh Rager thinks the break above $10,000 is a positive development, but wants to see a daily close (UTC 00:00) above $10,370 before adopting an ultra-bullish stance.”Closing above $10,370 would be insanely bullish,” tweeted Rager.
The new bullish bias would be invalidated if prices find acceptance once more below $10,000.
• BitMEX Sees Biggest Short Squeeze in 8 Months After Bitcoin Surge
• Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities || NEAR Protocol Enlists Bison Trails for Validator Support as It Heads Toward Full Mainnet: For investors looking to bet on the coming adoption of digital assets, there might be a stock for that: Shares of the cryptocurrency retail broker Voyager Digital are outperforming this year, with triple the year-to-date returns of bitcoin.
Crypto markets, just 11 years old, are evolving fast, withmore than 5,500 digital-tokens now in existence, many of them trotted out by entrepreneurs with scant revenue to speak of, few proven use cases and minimal supervision from government regulators.
So there’s something to be said for those crypto firms that embrace the scrutiny that comes with being a public company – from investors and regulators alike.
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Voyager Digital is one such company, a New York-based broker that aims to help individual investors buy and trade cryptocurrencies. Shares in the company, which went public in February 2019 through a reverse merger, are listed on theCanadian Securities Exchangeand traded in over-the-counter markets.
On Monday, its stock price tumbled 18% to 47 cents, the biggest drop in nearly three months, after Voyager announced it had raised $2.2 million through a dilutive sale of new equity via a private placement led by investors including Susquehanna, Streamlined Ventures and the CNBC personalities Jon and Pete Najarian.
The money will be used partly to fund an expansion of the company’s business beyond its core U.S. market into Canada and eventually Europe, CEO Steve Ehrlich told First Mover in a phone interview.
Related:First Mover: Crypto Broker Voyager’s Stock Has Doubled This Year, Beating Bitcoin
Voyager is a penny stock, so volatility is a part of the bargain. And indeed, the shares had shot up last week, so even after Monday’s sell-off, they’re still double where they started out 2020.
That compares with a 35% year-to-date return for bitcoin.
Crypto stocks straddle cutting-edge digital-asset technology and traditional Wall Street markets. Benefits for public companies include easier capital raising and potentially free publicity with every headline that crosses. Trade-offs include stricter reporting requirements and the need to stomach wide swings in the ever-visible share price.
It’s a very different model from many of the crypto industry’s largest companies, mostly private concerns like the exchanges Binance and Coinbase and the mining-computer maker Bitmain Technologies. Disclosures on the companies’ underlying financial health are harder to find, if available at all.
“Everything we do is scrutinized by auditors, and every decision we make as a board and as a company, we know is something that is potentially disclosable,” Ehrlich said. “A private company has a lot more wiggle room and can do things that never get shared.”
Here’s how glaring that disclosure can be: Last month, Voyager reported an operating loss of $1.78 million during the three months ended March 31, narrower than the $2.8 million deficit during the same period a year earlier.
And its cash dwindled to $1.7 million from $3.1 million in June 2019, even after private-placement capital increases totaling more than $3 million.
Another disclosure that might raise eyebrows: According to a May 20 regulatory filing, Voyager in recent months got two loans totaling more than $1 million from a U.S. government coronavirus-related relief fund, the Paycheck Protection Program.
Many private companies doubtless took the money without the need for immediate disclosure;some $511 billion of the loans were approved as of last week. But for public companies, accepting the financing meant also embracing the risk of any stigma or scrutiny that might come with the revelation.
“We felt comfortable upon conversations with counsel that taking the money was a fair step for us,” Ehrlich said. The financing is helping to pay for three or four new hires, he said.
It goes without saying that Voyager is still an early startup company, focused on longer-term trends in the crypto industry. There’s been a lot of talk recently about big hedge funds and money managers nosing into the cryptocurrency market, and Ehrlich says he believes that serving retail investors will become a major growth market in its own right.
Ehrlich is a former executive of the online stock broker E*Trade, which helped to shake up the brokerage industry in the 2000s with its electronic trading tools andexpensive Super Bowl commercials. So he’s comfortable with the idea that losses in the single-digit millions of dollars might someday turn to profits in the billions.
Many companies tread that road to profitability in private before going public with an initial public offering. Companies haveraised more than $23 billion in IPOs this yearon the New York Stock Exchange and Nasdaq, including Warner Music Group, which raised more than $1.9 billion.
It puts Voyager’s $29.8 million market capitalization into context. Not exactly a unicorn.
But at least the valuation is public and based on the collective judgment of markets. Ehrlich says that in some ways it’s easier for the company to raise new money – such as in Monday’s private placement – because he can offer new investors the chance to get in at a valuation predicated on a market-determined share price.
“I always have questions when I see valuations on private companies,” Ehrlich said. Meanwhile, “I have a currency that is quite attractive for people in looking to do not just organic growth but for mergers and acquisitions.”
Ehrlich said that, based on internal projections, his company has enough cash on hand to make it through 2021, when, also according to projections, the firm will turn cash-flow positive.
In the meantime, he says, some of the company’s customers now jump on its periodic business-update conference calls and webcasts. It might be their way of assuring themselves that their cryptocurrencies are safe with Voyager.
There’s no assurance, of course, that Voyager will eventually grow out of its penny-stock status – or that its stock price will continue to outperform bitcoin.
But at least investors and customers will know what the company is up to, and how it’s doing.
BTC: Price: $9,714 (BPI) | 24-Hr High: $9,870| 24-Hr Low: $9,610
Trend: Bitcoin’s struggle for clear directional bias continues with prices trapped in the trading range of $9,350–$9,900 for the seventh straight day.
Technical indicators like agolden crossoveron the daily chart, along-term bull crosson the three-day chart, and the positive reading on the weekly MACD histogram suggest the path of least resistance is to the higher side. A slide in the number of coins held on exchanges is also painting a bullish picture, as investors choose to hold.
As such, one may expect the ongoing consolidation to pave the way for stronger gains. However, the technical indicators mentioned above are based on historical data and tend to lag prices.
Additionally, the upward trend from the March low of $3,867 looks to have run out of steam. The cryptocurrency has failed multiple times to keep gains above $10,000 over the last four weeks and recently dived out of an ascending channel drawn from the March 13 and April 21 lows and the March 20 and May 7 highs.
Meanwhile, the Chaikin money flow indicator, which takes into account both prices and volumes, is printing negative values on the weekly chart. That indicates selling pressure is stronger than the buying pressure right now.
As a result, a pullback to $9,000 cannot be ruled out. A violation there would expose the higher low of $8,630 created on May 25. On the higher side, the high of $10,500 reached in February is the level to beat for the bulls.
• Blockchain Bites: Coinbase Surveillance, Bitcoin Wargames, CoinMarketCap Drama
• Bitcoin Remains on Hunt for $10K as Holding Sentiment Gains Strength || Crypto Long & Short: Why Bitcoin’s Big Rally Is a Sign of Its Economic Resilience: Economic growth figures are starting to trickle in and, as expected, they’re bad. Really bad. This past week the U.S. reported Q1 GDP growth as -4.8%. Italy’s GDP fell -4.5%, Spain came in at -5.2% and France trumped that with a whopping -5.8%. And that’s just warming up – Christine Lagarde, head of the ECB, has warned euro-area GDP could fall by as much as 15% in Q2. And yet stock markets in the U.S. and Europe closed up on the week, in spite of the inevitability the next quarter will be worse still. You’re reading Crypto Long & Short , a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and offers a recap of the week – with insights and analysis – from a professional investor’s point of view. You can subscribe here . Related: Market Wrap: Bitcoin Dips to $8.8K but Optimism Seen Continuing Ahead of Halving This could be partly due to the concentration of market capitalization – nearly 25% of the S&P 500 market capitalization is from five tech companies, which arguably will do relatively well from more people staying at and working from home. Or, it could be because the stock market has broken all ties with the actual economy. The aforementioned concentration of the S&P 500 is intensifying, fueled by the dominance of passive investing, which means its performance does not reflect that of most of its constituents. And the “ moral hazard ” posed by the government’s willingness to bail out companies in difficulty suspends the need to scrutinize balance sheets and evaluate viability. But reality doesn’t stay suspended forever, no matter how much we wish it would. Eventually the abrupt slowdown of economic activity will feed through to numbers investors can’t ignore, and the current price/earnings (P/E) valuations will start to look absurd. This is where bitcoin comes in. Its underlying technology and monetary system make it one of the few investable assets that is immune to the economic fluctuations we have ahead. Story continues First, its P/E ratios will never look absurd because it doesn’t have any earnings. Nothing to get hit there. Related: First Mover: Capitalism’s Biggest Crisis Isn’t Driving People to Bitcoin – It’s the Volatility Second, its use will not be curtailed by lack of customer mobility – users can transact from anywhere. In fact, logistical constraints could boost interest in bitcoin transactions from those who normally hand over physical cash (although why they would want to if people aren’t moving around is another question). Third, its market valuation is not susceptible to artificial support from governments trying to keep investor (and voter) spirits up. This does not mean bitcoin’s price will keep going up while other prices come down. We saw back in March that when things get bad in markets, bitcoin also suffers. Its price is driven by sentiment. But it is also driven by expectations of future adoption and demand, which are unrelated to the drivers of demand for most other investable assets. In terms of fundamentals, bitcoin has nothing to lose in the upcoming crisis – no income, no debt and its future adoption does not depend on happy and confident consumers. Just the opposite, in fact. The growing awareness of this, combined with heightened media attention due to the upcoming halving , could be one of the reasons behind this week’s recovery. Or perhaps it is being swept along in the wave of inexplicable optimism in traditional markets. Should that turn south, bitcoin is likely to suffer in the sentiment-driven short term. Longer term, however, fundamentals tend to surface, and those that drive bitcoin are radically different from those that drive traditional markets. Talk about marching to your own beat. Not that big a deal One argument in favor of the bitcoin price rallying after the halving is that of supply and demand. Assuming demand is more or less constant (I know, but work with me here), when supply drops the price should go up. Basic economics – you remember that graph from high school, right? After the halving, there will be fewer new bitcoin entering the market every day. Since miners need to sell part of their hard-won new bitcoins to meet expenses, some of the sell pressure comes from miners. If they are selling fewer bitcoins (because they have fewer bitcoins to sell), then there is less supply meeting a constant demand and the equilibrium price moves up. Fine, but one part of this model is already obviously unstable – demand is not constant, not by a long stretch. Even so, there is another overlooked weakness: The dent in sell pressure is negligible. Post-halving, there will be 6.25 fewer new bitcoins entering circulation with every block. Assuming a new block every 10 minutes, that translates to approximately 900 fewer new bitcoins a day. Considering the number of bitcoins transferred on-chain in April was an average of over 270,000 per day, 900 less won’t make much of a difference to the supply curve in that simple basic price equilibrium graph. Any positive halving impact is more likely to come from increased awareness and trader interest resulting from the media attention. The juxtaposition of what is becoming known as a “ quantitative hardening ” against a “quantitative easing,” combined with growing unease about the latter, is likely to transform this media-fueled attention into a lasting interest from investors, analysts and economists. What is unclear is whether any price momentum from the halving would be enough to offset a hit to general sentiment from broader macro concern. As always in investing, one’s individual time horizon is everything. Anyone know what’s going on yet? In spite of a stream of bad news on employment, production and earnings, the S&P 500 had its strongest April since 1987, possibly floating on the stimulus laughing gas. European indices also had a good month, as economies started announcing tentative steps towards opening up their economies and electricity consumption started edging up. As April turned into May, markets started to retreat, perhaps digesting the recent gains and perhaps unnerved by a new anti-China belligerence from the U.S. and earnings warnings from tech companies . Gold continues to play the inflation game but with less enthusiasm and some profit taking – it remains to be seen how it would perform if stocks head south again. And West Texas oil had its first positive week in about a month as confidence gathered around the production cuts, although there could well be more turmoil there as the next futures expiries approach. As you can see in the chart above, bitcoin had a particularly strong month. The jump this week gave bitcoin its best April in years, with data suggesting this rally is largely fueled by U.S. investors, with growth more in spot volumes than derivatives. And a lack of foreign reserves has pushed countries such as Lebanon and Turkey towards currency crises, which remind us that a strong dollar impacts much more than just FX markets. What’s happening in Lebanon , where anti-government protests have turned violent and triggered the closure of the capital’s banks, will become a textbook example of the risks of centralized finance for years to come. (Note: Nothing in this newsletter is investment advice. The author owns small amounts of bitcoin and ether.) Chain links CoinDesk Research has published its first in a series of deep dives into listed crypto companies. We’re starting with Hut 8, one of the largest listed bitcoin miners, and its financials and recent operational shifts reveal some of the hurdles bitcoin miners struggle with in capitalizing their business while maintaining margins. Preston Pysh looks at investment opportunities in a market increasingly manipulated by government printing, predicting that a “break” will be triggered either by social unrest or a natural transition to a different form of money. TAKEAWAY: Preston is not a crypto enthusiast (among other things, he hosts the podcast “We Study Billionaires”), but he is bullish on bitcoin largely as an alternative to an increasingly debased dollar – this makes his take particularly interesting for those managing diversified portfolios, which should be everyone. How many of a project’s contributors have to be hit by a bus for the project to stall? Introducing the “ bus factor ,” a new metric that measures resilience. Really. TAKEAWAY: Actually, it’s a cool concept, intriguingly expanded on here by analyst Hasu. The higher the bus factor (the more widely distributed the code development), the easier a network is to replicate. The lower the bus factor (the more concentrated its control), the greater the risk. A couple of years ago Twitter woke up to a mercifully false rumor that Ethereum creator Vitalik Buterin had been killed in a car accident. (It didn’t involve a bus as far as I know.) The news pushed ether’s price down 15%. These days the impact would probably be different (although please be careful, Vitalik), but the anecdote shows that this is a metric worth watching. The city of Ya’an, in China’s mountainous Sichuan province, is publicly encouraging the blockchain industry to help consume excessive hydroelectricity ahead of the summer rainy season. TAKEAWAY: This highlights how excess energy from hydroelectric and natural gas plants can bring down operating costs for miners, making their sector – crucial to the maintenance of the bitcoin network – more profitable and less vulnerable to price swings and halvings. Bitcoin futures and bitcoin options both had their most active day since the crash on March 12, according to derivatives data provider skew.com. TAKEAWAY: To be honest, I’m not sure what this means, but it feels significant. Coin Metrics presents “ free float supply ,” which adjusts supply measurement by taking out founding tokens and vested tokens, as well as those that are inactive, burned or probably lost. TAKEAWAY: The result is a measure of circulating tokens, a more reliable gauge of a network’s size and liquidity. Bitcoin’s free float supply, according to Coin Metrics, is over 4 million less (over 20% less) than the reported figure, which implies that its velocity (the transaction rate compared to the amount outstanding) is higher than many have calculated. Blockchain analytics firm Glassnode has introduced a new metric called Glassnode On-Chain BTC Index (GNI), which aims to link price performance to network fundamentals. TAKEAWAY: Any fundamentals-tracking index is subjective, no matter how much rigor goes into selecting and quantifying the components. However, as long as the methodology is consistent, they can provide valuable information about trends and shifts, and at first glance the GNI does a good job of taking into account the principal value drivers of sentiment, liquidity and network health. The index recently turned from bearish to neutral, which is itself a bullish sign. Large crypto investors, popularly known as “ whales ,” seem to be accumulating bitcoin amid the ongoing price rally. TAKEAWAY: Although an imperfect indicator, this can be interpreted as bullish, as high-net worth individuals or funds appear to be adding to or taking new long positions in bitcoin, perhaps in response to the monetary turmoil in the fiat world. Genesis Capital * released its Q1 lending report , which highlights more than $2 billion of new loan originations, twice the figure for the previous quarter. This brings their cumulative amount lent to $6.2 billion. TAKEAWAY: Those are substantial figures, which point to a deepening maturation of the space. The report is worth a read, especially as it gives insight into the timeline around the March 12 crash, and how Genesis handled the turmoil. It also confirms that the lender has tightened credit, given the market uncertainty. This is likely to be temporary and comes as a relief – the sector needs strong lenders, as leverage can fuel growth but can also bring it tumbling down if it has to unwind suddenly. (*Genesis Capital is owned by CoinDesk’s parent company, DCG.) Leigh Cuen spoke to several crypto custody and wallet providers about the uptick in activity they have seen since the beginning of the lockdown. TAKEAWAY: Growing interest in off-exchange custody solutions implies a growing interest in holding crypto assets, rather than just trading them. Some of the exchanges Leigh spoke to cater mainly to institutional clients, but others have a wider base, which implies that interest in bitcoin is spreading amongst all types of investors. The second fund of a16z’s crypto division has raised $515 million, more than the original target of $450 million and considerably more than the $300 million raised by the first fund, which launched in 2018. The investments will focus on next-generation payments, decentralized finance, new monetization models and the concept of a decentralized internet. TAKEAWAY: While this is a crypto venture fund, investing in startup equity and tokens without the intention to trade, this raise is bullish for the sector as it implies a belief that at least some of the beneficiary blockchain companies will have viable businesses. Silvergate Bank added 46 crypto customers in the first quarter, bringing the total to 850, largely institutional investors. The number of transactions more than doubled in Q1 vs Q4, and was up more than 3x vs the same period in 2019. TAKEAWAY: One intriguing disclosure in the report was the mention of a lending service called SEN Leverage, currently in pilot mode, which will allow bank customers to obtain U.S. dollar loans collateralized by bitcoin. Crypto as collateral is a fascinating area to watch. On the one hand, the bearer status of bitcoin, its relative liquidity and its ease of transfer make it an ideal collateral from a lender’s point of view. On the other hand, current legislation makes it very difficult in practice. This paper by Xavier Foccroulle Menard, posted on SSRN this week, gives a great explanation as to why. (TL;DR: it’s to do with UCC definitions of collateral – guess what, bitcoin doesn’t fit.) Hangzhou-based Ebang International Holdings, one of the leading manufacturers of bitcoin mining equipment, has filed with the Securities and Exchange Commission for an initial public offering of up to $100 million. TAKEAWAY: There does seem to be a trend amongst Chinese companies of trying to list in the U.S., in a bid to broaden their geographical diversification. Curiously, this could encourage the shift of the epicenter of bitcoin mining away from China and towards the U.S. CFTC commissioner Brian Quintenz , one of the organization’s crypto supporters and who advocated for self regulation in the crypto industry, will not seek renomination when his post ends this month, and will leave the regulatory organization by late October. TAKEAWAY: SEC commissioner Hester Peirce, who has argued in favor of bitcoin exchange-traded funds and also favors a more supportive approach to innovation, is also nearing the end of her term. As far as I know, her plans have not been made clear yet, and we don’t know who will be replacing Quintenz – but this could mark a subtle change in tone at one of the most powerful securities regulators. Related Stories Bitcoin in Emerging Markets: The Middle East Bitcoin Price May Drop After Halving, Historical Data Shows || Bitcoin Remains on Hunt for $10K as Holding Sentiment Gains Strength: Theres a disconnect between crypto markets and Wall Street. Among bitcoin bulls, a key investment thesis is that the trillions of dollars of money injections by global central banks will usher in an era of inflation, helping to send prices for bitcoin, seen as a hedge against inflation, to the moon. Youre reading First Mover , CoinDesks daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you dont have to. You can subscribe here . But trading in global bond markets shows that traditional investors expect nothing like the hyperinflation episodes witnessed in places like Zimbabwe and Venezuela. Just look at break-even inflation rates calculated by assessing the difference between yields on inflation-linked notes and regular bonds. Its a way of gauging traders expectations for future inflation, and the current view is that consumer-price increases over the next five years in the U.S. will average levels well below the Federal Reserves 2% target. As of Wednesday, the five-year break-even rate was 1.5%, according to data provided by the Federal Reserve Bank of St. Louis. Thats down from 1.8% in September even after the Fed injected more than $3 trillion of new money into the financial system just this year. The analysis offers a reminder of just how deflationary recessions can be, with rising unemployment that often puts downward pressure on wages and consumers demand for goods and services. A report Friday from the U.S. Labor Department put the May unemployment rate at 13%, up from 3.5% in December. Millions of people lost their jobs as businesses slashed their workforces during this years coronavirus-induced lockdowns. Related: First Mover: As Bitcoiners Eye Inflation Boost, Wall Street Sees Barely Any for Five Years Story continues Typically, inflation is going to be linked with employment levels, Rich Rosenblum, a former Goldman Sachs managing director whos now co-head of trading at the cryptocurrency-focused firm GSR, wrote in an email. If the U.S. inflation was below target (sub 2%) when the country was at full employment, then its even less likely that inflation will arrive when unemployment is sky high. Europe and other parts of the world are facing similar situations. While the European Central Bank (ECB) has amassed assets worth over 5 trillion euros, five-year inflation expectations remain at a meager 1.02%, as noted by macro analyst Holger Zschaepitz. The ECB also targets 2% inflation. Traditional investors may be keying off recent experience showing that large-scale central-bank money injections over the past decade have not touched off anything resembling hyperinflation. The Fed conducted multiple rounds of asset purchases in the six years that followed the 2008 crash, more than quintupling its balance sheet to about $4.5 trillion from $800 billion. Throughout that period, the core inflation rate, which excludes food and energy items whose prices can be volatile, remained well below the central banks 2% target. Could this time be different? According to Mark Thornton , a senior fellow with the Ludwig von Mises Institute in Alabama, the direct cash handouts to ailing businesses and households might start the new money sloshing around the economy sooner than in 2008, when the Fed mostly relied on banks to lend out the funds. And GSRs Rosenblum says unforeseen events, such as heightened geopolitical conflict, could push prices higher. Tensions between the U.S. and China escalated in May, with Washington criticizing Beijings handling of the coronavirus outbreak as well as its move to curb Hong Kongs autonomy via a national security bill. An unexpected choke on supplies of certain goods (e.g. oil, semiconductors) could cause a surprise rise in inflation, he wrote. Even if this rise is temporary and merely a scare, it can be quite damaging. One possibility is that the Feds new money injections havent really found their way into Main Street commerce as much as onto Wall Street propping up prices for financial assets like stocks and bonds. The Standard & Poors 500 Index of large U.S. stocks has rallied more than 40% from March lows and is about 8% short of challenging record highs seen in February. Other major equity indices, too, have witnessed stellar rallies. With few signs of rising inflation, then, and traditional financial markets rallying, big investors might have fewer reasons to pour money into a perceived inflation hedge like bitcoin. GSRs Rosenblum noted that bitcoins value is in hedging against the risk that inflation might eventually pop up: Theres little to worry about right now, but the deep economic dislocations from the coronavirus and ever-shifting geopolitical winds have created ripe conditions for price spikes to emerge. It is more about picking the right instrument that would build in a risk premium if inflation expectations rapidly shifted in the future, Rosenblum said. Tweet of the day Bitcoin watch BTC : Price: $9,737 ( BPI ) | 24-Hr High: $9,804| 24-Hr Low: $9,392 Trend : A bitcoin price indicator is about to turn bullish for the first time in 12 months. The 50-candle moving average (MA) on the three-day chart is on track to cross above the 100-candle MA in the next 24 hours. The resulting bullish crossover would be the first since mid-June 2019 and the third since October 2015. Last year, bitcoins upward move from $4,000 to $9,000, seen in the 2.5-months to mid June, accelerated following the same bull cross. Prices rose as high as $13,800 by the end of the month. Meanwhile, the crossover seen in October 2015 marked the beginning of the mega bull run from $250 to $20,000. As such, traders may take heart from the impending bull cross, even though it is based on moving averages and is a lagging indicator. Other long-term MA-based indicators like the weekly MACD histogram and the daily chart golden crossover are also painting a bullish picture. However, the cryptocurrencys recent failures around the $10,000 mark are indicative of buyer exhaustion. Technical analysis comments that until the buyers reclaim $10,500 (February high) resistance as a new support, we would not only not see $11,600-$12,000 supply area tested, but also bitcoin remains at risk of validating bearish rising wedge pattern with target around the $7,600s, said Adrian Zdunczyk , a chartered market technician and CEO of trading community The BIRB Nest. While $10,500 is the level to beat for the bulls, last Tuesdays low of $9,135 is the key support to defend. If breached, bitcoin may see a deeper decline toward $8,600. At press time, bitcoin is trading largely unchanged on the day near $9,745, having recovered from lows below $9,400 over the weekend. Related Stories Market Wrap: Bitcoin Flat as Stocks Swell on Positive Jobs Report Money Reimagined: The Ongoing Crisis Is Stirring a Crypto Awakening in Developing Nations || Custody Provider Copper Joins Think Tank to Bridge Gap Between Traditional Finance and Crypto: Crypto custodians are in a race to build the next State Street or BNY Mellon.
There are only a handful of these types of large custody banks and most of them have been around for hundreds of years. But crypto is such a striking example of old world meeting new that it offers firms a rare opportunity to break into a market that would simply be impossible under normal circumstances.
“In the traditional world you can’t really build a custodian, it’s not something you can just break into,” said Diogo Monica, co-founder of Anchorage, a Silicon Valley-based custody platform specializing in crypto. “BNY Mellon has been around for 300 years and now, in crypto, we have a chance to actually build a foundational company that is potentially going to last for that long,” added Monica.
It’s an inspirational long view for sure, but how will things evolve over the short term?
Recent acquisitionsin the crypto space have seen a bundling together of services such as custody, settlement, lending and trade execution. The latest push along the prime broker route came Wednesday with bitcoin futures platformBakkt teaming up with Galaxy Digitalto combine custodial and trading capabilities.
Read more:Behind ‘Prime Broker’ Buzzword Lies a Complex Strategy Game for Crypto Firms
If crypto is entering a period of accelerated consolidation and following similar lines to the traditional world, firms specializing in standalone custody or trade execution may need to pivot to offer additional services or risk being swallowed up.
Related:Custody Battle Pits Institutional Boomers Against Crypto Upstarts
An evolution towards something like traditional finance is definitely how regulated crypto custodian BitGo sees it playing out.
“This space is going to consolidate very quickly around big strong reputable brands, much like what happened with State Street, JPMorgan, BNY Mellon,” said BitGo CEO Mike Belshe.
The recent unveiling ofBitGo Primeallows the platform’s customers to trade directly from cold storage (where cryptographic keys are held deep inside BitGo’s offline, insured vaults) across a choice of two exchanges and two large over-the-counter (OTC) desks.
This saves firms the rigmarole of opening and funding accounts at various exchanges and moving assets around, said Belshe, declining to name the venues currently connected to BitGo’s incipient trading offering.
“All four are tier-one, top-ranked, regulated businesses you’d recognize. We will start naming them in due course. The plan is to grow that by the end of the year to more than a dozen,” Belshe said.
Although a one-stop-shop prime broker platform seems to be what many crypto firms now aspire to, it could be about thebuzzwordrather than a full understanding of the services being provided.
Prime brokerage is more of a financial services function than a tech function, a fact that may be lost on the new breed of crypto pioneers, said Michael Moro, CEO, Genesis Trading, which recently acquired standalone custodian Vo1t. (Disclosure: Genesis is owned by CoinDesk parent company Digital Currency Group.)
Read more:Genesis Trading Buys Crypto Custodian Vo1t in Bid to Become Prime Broker
“As well as having a large balance sheet, attention to client services is an essential aspect when it comes to choosing a prime broker platform,” said Moro. “I think everyone wants the white glove, high touch service, which is how prime brokerage works in traditional finance. But that’s very different from a tech software model.”
The latter approach is to try and scale the business through technology as much as possible, rather than hiring customer service representatives or business development staff, Moro said.
“In institutional finance, the ability to pick up the phone and speak to your coverage person is so important,” he said. “Being able to speak to a human being, as opposed to clicking a few buttons on a platform, I think will be a differentiator among what prime broker platforms are around in a year or two.”
It’s tempting to write this off as an overly cautious crypto boomer approach, pandering to traditional legacy systems. But to do so could be a strategic error.
A focus on gently transitioning traditional capital markets over to crypto is gaining traction for London-based Koine, which is offering a post-trade solution for digital assets combining custody, settlement and cash management. Koine’s solution has so far been rubber-stamped byregulators in the U.K.and theUnited Arab Emirates.
“The path we envisage involves the ability to transition from existing infrastructure, rather than a new model everyone must switch to,” said Phil Mochan, Koine’s co-founder and head of strategy.
Read more:Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm
Building bridges between existing market infrastructure and crypto native exchanges is something Koine is tackling in stages, said Mochan. Bitfinex was the first exchange to publiclyannounce an integrationwith Koine, and there are currently 12 other workflow models at different stages depending on the trading venue or OTC desk, he said.
“It’s not going to happen overnight,” said Mochan, framing the technological challenge specifically in terms of old-meets-new. “We find there are operational issues around API work almost everywhere, and that’s because 21-year-olds have built these platforms.”
Over the past couple of years, custody platforms have sought to differentiate themselves by offering new and innovative services such as earning yields on proof-of-stake (PoS) tokens by verifying transactions on a network or participating in governance decisions.
However, Moro of Genesis said that while this might have looked like a product differentiator at one stage, it no longer really counts – since many custodians now offer staking and even exchanges such as Binance have gotten in on the act.
“If you’ll pardon the pun, staking has become like table stakes for holding onto customers’ funds,” said Moro. “I think it’s really hard to differentiate yourself because the barrier to mimicking is not that high.”
But not all staking services are the same, just as not all custody is the same, said Monica of Anchorage, which uses a complex blend of hardware security modules (HSMs), threshold signing and multiple signatures to lock down crypto assets.
Read more:Beyond Storage: How Custody Is Evolving to Meet Institutional Needs
“The space is rife with people using manual operations from 10 years ago, where they have to actually go to a vault,” Monica said, adding that cold storage solutions of this type became unworkable under COVID-19 lockdown and social distancing.
On the subject of providing staking services, Monica said: “This stuff is hard to build. It may be table stakes in the sense that nobody wants to store an asset with you unless you can generate yield for it. Nobody wants to drop dividends on the floor in the traditional market so why would that be different in crypto?”
Anchorage’s strategy from day one has been to build everything in-house, said Monica, pointing to the Frankenstein-like assemblage of crypto’s recent crop of aspiring prime brokers.
“This can’t just be bolted on. Everything that touches a cryptographic private key is deserving of the ultimate security and attention,” he said. “The path to prime [brokerage] is not by bolting on different solutions built by different individuals and companies with different backgrounds and philosophies.”
An unavoidable consequence of crypto prime brokerage is further centralization ina sector built on the premise of decentralization. While the prime broker model may bring a concentration of risk plus added costs, asking traditional players to try out new variants like DeFi (decentralized finance) is a big ask.
Nevertheless, the fast-growing world of DeFi is attracting lots of attention since it eschews traditional finance rather than simply trying to replicate it. With that, comes alternative approaches to trading, settlement and also custody.
Read more:Crypto Long & Short: The Emergence of Prime Brokers Adds Resilience but Also Risk
“We have exactly the same goals but we always try to be slightly less centralized, as much as we possibly can,” said Alex Batlin, CEO of Trustology, a custody platform backed by ConsenSys and Two Sigma Ventures.
“The question is,” Batlin said, “do you wrap it all up like in the old days into a single prime broker with all the risks associated with that, or do you try achieve the same goals but with the lower prices and lower risk associated with decentralization?”
The DeFi custody hypothesis also does away with cold storage: Trustology uses HSMs for near real-time access to assets that cannot be commingled in omnibus accounts.
While the DeFi space is definitely tech-first, Trustology recognizes self-custody without controls is not fit for business or institutional contexts.
“There’s an emerging white space which we are trying to fill,” said Batlin, “We can sign any ethereum transaction or any DeFi protocol fast and segregated, and apply controls.”
Trustology sees decentralized clearing as a viable alternative option, with custodians acting as settlement agents, trying up with protocols likeAirSwap. Brokers are also eyeing the billion or so dollars of liquiditylocked upin DeFi, said Batlin.
“Brokers are looking to access liquidity and margin on those protocols; asset managers are looking at it the same,” he said. “There are possibly some really interesting plays around committing funds to staking, to collateralized lending, so you get the ability to do a long while being at yield that’s relatively safe.”
While Trustology is focused on Ethereum, Fidelity-backed KNØX is applying its energy towards Bitcoin.
Read more:In Rare Deal, Crypto Custodian Wins Insurance on Full Value of Client Assets
The Canada-based custodian, which holds insurance from mega-broker Marsh, is “philosophically aligned” with Bitcoin and the technologies being built on top, according to KNØX co-founder and CEO Alex Daskalov.
“We have yet to see a custodian that has a tight integration with the Lightning Network, for example,” Daskalov said, referring to the bitcoin scaling solution built for faster payments. “We would love to be there in lockstep with a lot of the tech riding on Bitcoin and layers above it such as Lightning and Liquid.”
Growth in the traditional trading space is not all about competition, there’s co-operation too, which benefits the whole market. There’s also evidence of this among some crypto custodians and brokers
For example,recently launchedprime broker BeQuant, which has its own custody solution, says it is open to working with other custodians in the space, as clients want to spread risk just as they do in traditional finance.
“I think you need those standalone guys,” said Richard Shade, BeQuant’s head of custody. “We are open to working and collaborating with a number of these guys and we are talking to all of them, because we realize our customers may already be using them.”
Read more:Bequant Launches Crypto Prime Brokerage to Compete for Institutional Money
London-based custodian Copper, whichraised an $8 millionSeries A in February, says it is also happy to collaborate, as well as compete.
“We are happy to work with people on financing and with people on clearing,” said Copper founder and CEO Dmitry Tokarev, who added that the recent funding affords the firm a further 18 months of runway.
Copper’s ClearLoop settlement solution differs from something like BitGo’s, which is geared towards everyone having a BitGo account, Tokarev said.
“We have already asked other custodians to join the network because that is the best solution for clients at the end of the day. The more exchanges and custodians that join the network, the more efficient (and secure) the entire trading ecosystem becomes. It’s better for everyone, not just Copper,” Tokarev said.
It’s not all kumbaya around the crypto-custody campfire, however. When it comes to the crypto prime broker race, BitGo likes to take a jab at arch-rival Coinbase.
Last year, whenCoinbase acquiredthe institutional business of crypto wallet and custody provider Xapo, that brought the San Francisco exchange’s assets under custody to over $7 billion. At that time, BitGo publicly courted former Xapo clients, which were said to haveexpressed concernover the new arrangement.
Read more:Crypto Exchange Coinbase Acquires Xapo’s Institutional Custody Business
Following this train of thought, BitGo’s Belshe said the recent acquisition of Vo1t by Genesis was probably a strategy to take back custody of about $2.7 billion worth of Grayscale Bitcoin Trust assets and bring these under common ownership. (Like Genesis, Grayscale is also a subsidiary of Digital Currency Group.)
“Grayscale was with Xapo and was sold over to Coinbase, for a pretty high premium by the way,” said Belshe. “I’m guessing that DCG, the Genesis team and the Grayscale team want to pull that custody back.”
But Michael Moro of Genesis scotched Belshe’s theory.
“As I evaluated Vo1t, that was not a consideration at all,” said Moro. “I’m actually not even privy to the contract that Grayscale and Coinbase have so I don’t know the terms or how long it lasts. My understanding is it’s longer-term so that wouldn’t be a near-term event, regardless.”
• Number of Institutions Buying Crypto Futures Doubled in 2020: Fidelity Report
• US Marshals Service Seeks Firm to Custody and Sell Crypto Seized From Criminals || Slipping Chinese Yuan May Boost Bitcoin Price, Past Data Suggests: Bitcointraders should keep an eye on the ongoing slide in the yuan, analysts say.
That’s because, historically, the cryptocurrency looks to have put in a positive performance during bouts of weakness in the Chinese currency.
The yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September and taking its cumulative month-to-date and year-to-date losses to 1.4% and 2.85%, respectively.
Related:Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels
The decline to eight-month lows could beassociated withconcerns about the U.S. response to China’s proposed security law for Hong Kong and the resulting haven demand for the greenback. U.S. Sen. Marco Rubio (R-Fla.)put out a tweetlate Tuesday stating the U.S. would impose sanctions on China if the nation presses forward with implementing the controversial Hong Kong bill.
“If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness,”tweetedChris Burniske, partner at venture capital firm Placeholder.
The above chart shows bitcoin and USD/CNY moving in tandem in 2015 and 2016.
In August 2015, the People’s Bank of China (China’s central bank) surprised markets by devaluing CNY by 3.5%. The Chinese currency ended 2015 with an over 5.5% loss against the dollar, while bitcoin gained 34%.
Related:Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’
Another wave of yuan devaluation rocked financial markets in early 2016 and the currency ended that year with a 7% loss. Again, bitcoin rallied by nearly 125%.
So there appears to have been a correlation between the two assets in 2015 and 2016. However, correlation does not necessarily imply causation, meaning there may or may not be a cause and effect relationship between the two.
Read more:Chinese Government Advisers Propose Regional Stablecoin for 4 Asian Countries
Some analysts have long argued that CNY depreciation leads to increased flow of money into bitcoin from China.
For instance, CNY fell below 7 per dollar for the first time in 10 years on Aug. 5, 2019, amid the U.S.-China trade war. On that day, bitcoin rallied by 7% and the uptick began an hour before the yuan dropped below the key level. As a result, some observers, including prominent analyst Alex Kruger,wondered whether bitcoinhad front-run the slide.
“Last year we witnessed flows from CNY to BTC during the trade tariff saga,” Matthew Dibb, co-founder of Stack, a provider of cryptocurrency trackers and index funds, told CoinDesk Wednesday.
Skeptics, however, would counter that claim by saying theuptick seen onAug. 5 was short-lived and the cryptocurrency suffered sharp losses in the following four months despite the yuan’s continued decline to new multi-year lows near 7.20 per dollar.
Essentially, the positive correlation between USD/CNY and bitcoin did not hold ground in the second half of the last year. Furthermore, both bitcoin and the yuan suffered losses in 2018.
It could be argued the yuan slide seen in 2015 and 2016 merely coincided with the uptick in bitcoin, which was fueled by the bullish frenzy surrounding the cryptocurrency’s second mining-reward halving, which took place in July 2016.
Nevertheless, it may be worth keeping a close eye on the ongoing CNY slide as the narrative that yuan depreciation leads to increased outflows from China is still quite strong. Further, in the crypto markets, bullish narratives have a tendency to become self-fulfilling prophecies, as evidenced by bitcoin’s pre-halving rally.
In addition, bitcoin may be more sensitive to developments in the yuan market this time round, with the cryptocurrency now a macro asset class this year following an increase in institutional participation.
“It’s no longer possible to analyze the crypto market without analyzing the rest of the macro markets,” Messari analysts said in their Tuesday’s newsletter. “The 2020 recession officially marks the beginning of bitcoin as a macro asset class. For retail investors and institutional investors, crypto isn’t the only asset class in their portfolio. Therefore, it’s crucial to look at crypto from a portfolio allocation perspective.”
Indeed, legendary fund managers like Paul Tudor Jones II have recentlythrown their weight behind bitcoin, seeing it as a hedge against inflation.
“Bitcoin reminds me of gold when I first got into the business in 1976,” Jones said. Gold, a precious metal with limited supply, tends to gain value during bouts of fiat currency devaluation.
Some analysts expect CNY to slide further on escalating U.S.-China tensions and power gains in the cryptocurrency.
“As the USA and other countries retaliate against China’s proposed security law, our expectation is to see a continued depreciation of the yuan, while BTC could benefit once again as a local and liquid safe-haven asset alternative,” said Dibb.
Read more:Number of Bitcoins on Crypto Exchanges Hits 18-Month Low
Meanwhile, Phillip Gillespie, CEO of B2C2 Japan, told CoinDesk he is personally bullish on bitcoin due to the combination of excess money printing by central banks and pick up in geopolitical risks.
“I expect serious anti-Chinese rhetoric in the coming days/weeks/months as [U.S. President Donald] Trump tries to use nationalism/protectionism and anger towards China as a major catalyst for support,” said Gillespie, while adding that we would soon find out whether there’s a positive correlation between USD/CNY and bitcoin returns.
While the expectations may be bullish, so far, the cryptocurrency has not been able to gather upside momentum.
At press time, the cryptocurrency is trading near $8,930, representing a 0.29% drop on the day. The short-term technical outlook has turned bearish following Sunday’s break below an ascending trendline connecting the March 13 and April 21 lows.
While Clem Chambers, founder and CEO of financial markets websiteADVFN.com, believes the premise for bitcoin strength amid the yuan’s weakness may be valid, he’s concerned liquidity coming into bitcoin will remain low in China for some time due to coronavirus outbreak.
“I think BTC might have its new short-term range in place, but we will have to wait [a few weeks] till the second virus wave … if there is one, and that seems likely, to gauge what happens next,” said Chambers.
• Bitcoin Transaction Fees Decline as Network Congestion Eases
• Bitcoin News Roundup for May 27, 2020 || Latest Bitcoin price and analysis (BTC to USD): Bitcoin remains in a bullish pattern moving into the typically low volume weekend as it continues to test the $10,000 level of resistance. The world’s largest cryptocurrency, which now has a market cap of $176 billion , is currently consolidating at around $9,600 after surging by 11.18% since Monday’s halving. Miners now receive 6.25BTC per block as opposed to 12.5BTC and while it might not have an immediate impact on price action, it is considered bullish from a macro perspective due to a lack of new supply. Nicholas Pelecanos, Head of Trading at NEM Ventures , revealed that he expects increased volatility over the coming weeks due to miner fundamentals. “In the event of a bull run, I would be looking for a move above $9,800. Long term, I’m extremely bullish on price, and in my opinion the fundamentals have never been stronger. Regardless of whether a sell off occurs, I believe once we cross this level, the trajectory is high.” He said. A correction from here back below $9,000 would increase the bearish potential of a further pull back as it would mark a double top at $10,000. However, the recent golden cross on the daily chart, as noted in this week’s Coin Rivet analysis, should provide momentum for a swift move back towards the psychological level of $10,000. With the 50 exponential moving average moving above the 200 EMA for the first time since January Bitcoin could well make a charge for a new yearly high above $10,500 as fears around the coronavirus pandemic begin to subside. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Story continues Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. || With Arweave’s ‘Lazy’ Approach to Smart Contracts, Its Version of Web3 Does More: Decentralised storage network provider Filecoin announced the launch of the ‘Incentivized Testnet’, the final phase of testing for its decentralized storage network, on Wednesday.
In a press statement emailed to CoinDesk, the firm said that this precedes its expected main network launch this summer. Developed by Protocol Labs, Filecoin’s storage network aims to provide a safeguard against the risk of a single point of failure for data storage by using a decentralised network. Filecoin was also behind one of the major ICOs in 2017 when itraised more than $257 million.
According to the firm, the top 100 miners globally as well as the top 50 miners in each continent are promised filecoin tokens, depending on how much storage they contribute and the overall size the storage network is able to achieve. Beyond growing its network, the incentive is designed to determine how robust its infrastructure really is.
“The incentive competition will stress test the Filecoin protocol’s ability to onboard massive amounts of storage in a very short timeframe,” said Ian Daarow, head of operations at Filecoin, in an emailed statement.
Read More:Filecoin Is Mailing Out Hard Drives of Climate Data to Kick-Start Its File-Storage Network
Regarding security concerns that may arise around storing data on a decentralized network, Darrow said that although the network was targeted towards distributing publicly accessible data, such as image or video sharing, users who wish to store data privately could encrypt it prior to storing it on the network.
“When it comes to consumer adoption, we expect this data security layer to be handled by application developers building on top of Filecoin,” added Darrow.
Related:Filecoin Prepares for Network Launch With Final Testing Phase
According to arecent blog poston its website, Filecoin is expected to launch its main network between July 20 and August 21. The firm expects the final phase of testing to last about three weeks, and expects that it would help prepare the network to store large amounts of user data.
Filecoinkick-started the processof onboarding miners last month, when it emailed hard drives containing climate data, literature or human genome information out to future network participants.
• Schlesi Testnet Is Latest Step in Long Road Toward Eth 2.0
• Coder Proposes Alternative to Bitcoin’s ‘Notoriously Unreliable’ Testnet || Jon Giurleo is Taking an Innovative Lead in Independent EDM and Pop Music Production: NEW YORK, NY / ACCESSWIRE / May 24, 2020 /For any aspiring artist in the music industry, it's critical to understand where to produce and how to distribute your music. But for anyone to get ahead in the game, it requires a long list of connections and maybe even red tape to get on a label. Moreover, drop the ball on the fine print, and it puts the artist in an insecure place instantly.
Jon Giurleosaw sense and incredible potential in making it on his own as an independent music producer, DJ, and entrepreneur. He's an American artist in the music business producing electronic pop and dance music. Giurleo had a string of successful 2019 song releases in the electronic pop genre entitled 'Someone Like You' and 'Right Here'. This year, he's pushing the envelope to keep his momentum despite the current rollercoaster ride that we call 2020, by dropping his first hip-hop-inspired release titled 'Vinny Chase' featuring Dyl on June 12th. The independently produced song is the product of a successful collaboration with distinguished, independent musical artists.
His perspective on royalties and publishing influences Giurleo's career strategy. He's partial towards independently producing and releasing tracks, for the reason that, 'If contracts with labels get signed, understanding the agreement you are getting into is obviously necessary,' he explains. Giurleo wants to emphasize that he's not coming from an anti-label standpoint-in fact, he's developed many meaningful connections with labels - but there are limitless advantages to being an independent artist. He believes that this way, the artist has the complete right to their master recordings, which would translate to higher percentages and more money in the artist's bank account.
Jon Giurleo is a supporter of distributors like Tunecore, United Masters, Distrokid, which are companies that allow artists to directly upload their creations and get paid to do so. He also has nothing but praises for decentralized blockchain-based platforms like UJO that takes a futuristic approach to the industry for music artists. Giurleo sees these companies as an essential and positive movement within the music industry and a step forward to providing artists more accessible ways to enjoy the fruits of their labor.
Giurleo recognizes that things are continually evolving within the music industry and the rest of the world, and they change fast. He's a known advocate of Bitcoin investment, which is a modern approach to investing, and he's a supporter of new groundbreaking efforts that directly support musical artists, songwriters, and producers. Through these new methods of getting their music and their brand out there, Giurleo believes that the artists are being placed in the best position possible to build their brand. Undeniably, any business needs to adapt to changing times, investing for the future is a must, and these companies are doing their part. He adds, 'I think decentralized platforms and currency have a clear place in the future, and I think it would be wise for artists to explore all their options and do their own research.'
Giurleo wants to expand his outreach to the entire music industry-musical artists, producers, engineers, and songwriters. He wants to continue producing music that would be commercially viable yet also unique and overflowing with authenticity, which sets him apart from the rest. 'First and foremost, I create songs that I personally love and that my team that I'm working with can get behind as well. I strive not to be a producer that stays in the box by any stretch of the imagination.'
Listen to Jon Giurleo onSpotify, and know more about him and hismusicon his websitejongiurleo.com.
contact number: 6176104783email:[email protected]
SOURCE:Jon Giurleo
View source version on accesswire.com:https://www.accesswire.com/591166/Jon-Giurleo-is-Taking-an-Innovative-Lead-in-Independent-EDM-and-Pop-Music-Production || Los Angeles Blockchain Summit in October Partners With Robert “Crypto” Beadles: The collaborative effort between LA Blockchain Summit and Robert "Crypto" Beadles aims to motivate more people to learn about the industry with a free $299 ticket and $100 in Bitcoin.
WOODBRIDGE, CA & LOS ANGELES, CA / ACCESSWIRE / May 4, 2020 /Crypto Beadles announces today an exciting new media partnership with the Los Angeles-based fintech venture studio, Draper Goren Holm, and the West Coast's largest industry conference and expo, Los Angeles Blockchain Summit, to exercise both party's mutual desire to develop greater widespread cryptocurrency and blockchain technology adoption.
For a limited time, Crypto Beadles's audience can get a free $299 ticket to the summit plus $100 in free Bitcoin by registering.
The collaborative effort aims to motivate more crypto and blockchain-interested individuals to dive deeper into the industry by providing fun opportunities to interact, learn, and discover more about the space at Los Angeles Blockchain Summit.
"Josef and Alon are outstanding and have built two of the world's top blockchain investment conferences; LA Blockchain Summit and Security Token Summit," said Robert Beadles, CEO of Crypto Beadles, President of Monarch, and the creator of the Monarch Wallet. "The Los Angelas Blockchain Summit in October could be one of the biggest and best crypto events to attend this year; you don't want to miss it!"
The conference returns either online or at the Los Angeles Convention Center on October 6 and 7, 2020, for two full days of insightful educational tracks and fireside chats with the most accomplished, powerful, and astounding list of industry leaders and speakers. Furthermore, the summit is issuing a call for papers to provide top scholars engaged with innovative research, a chance to share their work with thousands.
This partnership will allow Crypto Beadles and its subscribers to get exclusive insights emerging from Los Angeles Blockchain Week and allow for extensive exposure to the ever-growing and rapidly maturing blockchain ecosystem in Los Angeles. Even more so, Crypto Beadles' dedicated listeners can take advantage of bitcoin giveaways, free tickets, and more in light of the summit's arrival.
"Aside from being one of the best YouTube industry influencers out there, we wanted to collaborate with Crypto Beadles because he pushes such high-quality that welcomes both beginners and advanced crypto enthusiasts. This is critical when trying to achieve widespread crypto and blockchain adoption," says Josef Holm, Founding Partner at Draper Goren Holm and Co-Founder of LA Blockchain Summit.
Some benefits of this new partnership include:
Free Bitcoin giveaways;
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A fun opportunity for Crypto Beadles's audience to meet one another in person and strengthen the online community as a whole.
Clickhereto learn how to get $100 in Bitcoin and a free $299 ticket to LA Blockchain Summit.
About Crypto Beadles
Robert "Crypto" Beadles is the builder and Co-Founder of the Monarch Wallet, MonarchPay, and is a member of the C4 Crypto Consortium. The Monarch Wallet has 420,000+ downloads, supports over 3,012 cryptocurrencies, seven blockchains, offers fiat gateways, crypto APR % interest-earning, an ERC20 DEX and much more. Robert is an avid believer in Cryptocurrency, Blockchain technology, and offers some of the most in-depth, educational, unique, and insightful content available. His content is available on Biz.tv, CryptoBeadles.com, TradingView Sessions, Apple, and Google Podcasts, and his Crypto Beadles Youtube channel, which has over 574 videos, 92.1K subscribers, and 20.6 million video views.
For more info, visithttps://cryptobeadles.com/
About Draper Goren Holm
Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing leading blockchain and cryptocurrency events, Security Token Summit and LA Blockchain Summit. Portfolio companies include Totle, Ownera, Innovesta, LunarCrush, Degens, Giftz, Vertalo, Coinsquad, CasperLabs, Element Zero, DeFi Money Market, and more.
For more info, visithttps://drapergorenholm.com.
About Los Angeles Blockchain Summit
Sold-out consecutively for seven conferences, Los Angeles Blockchain Summit returns to the Los Angeles Convention Center from October 6, 2020. The summit brings together angel investors, venture capital investors, retail investors, family offices, real estate investors, startups/entrepreneurs, issuers, exchanges, broker-dealers, service providers, and members of the media. Previous headliners include: Steve Wozniak, Tim Draper, Crystal Rose, Mance Harmon, Ran Neu-Ner, Marcus Lemonis, Robert Herjavec, David Siemer, Bill Barhydt, Scott Walker, Adam Draper, and Apolo Ohno.
For more info, visitlablockchainsummit.com
CONTACT:Name: William LinceEmail:Send EmailOrganization: CryptoBeadlesAddress: 18826 North Lower Sacramento Road, Woodbridge, California 95258, United StatesPhone: +1-850-325-0232Website:https://cryptobeadles.com
SOURCE:CryptoBeadles
View source version on accesswire.com:https://www.accesswire.com/588411/Los-Angeles-Blockchain-Summit-in-October-Partners-With-Robert-Crypto-Beadles
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-02-08]
BTC Price: 44118.45, BTC RSI: 63.94
Gold Price: 1826.60, Gold RSI: 54.79
Oil Price: 89.36, Oil RSI: 63.47
[Random Sample of News (last 60 days)]
Harmony Rallies by 14% in 24 Hours Following Datachain Grant: The cryptocurrency market has been performing well since the start of the week. The prices of most coins are up by nearly 5% in the last 24 hours.
TheHarmonyProtocol team announced yesterday that it had approved the grant for Datachain. The company has been tasked with building a bridge between the Harmony blockchain and theCosmosnetwork.
According to Harmony, Datachain’s experience in building interoperability solutions using trustless intermediaries is peerless.
Harmony is a fast and secure blockchain fordecentralized applications(dApps). The protocol’s main focus is to achieve scalability by dividing the network nodes. ONE, the native coin of the Harmony blockchain, has been rallying over the past 24 hours.
At press time, ONE is trading at $0.35 per coin, up by 13.8% in the last 24 hours. The rally comes as the broader cryptocurrency market slowly recovers from its recent slump. The total cryptocurrency market cap dropped below the $2 trillion mark earlier this week but is now moving towards $2.1 trillion.
Bitcoin,Etherand the other major cryptocurrencies are also recovering from their recent slump thanks to the market rally.
ONE has been one of the top performers so far this yearafter topping the $0.30 marklast week. However, itentered a bearish trendafter that, as the broader cryptocurrency market experienced huge losses.
The ONE/USD daily chart is one of the most bullish in the cryptocurrency space at the moment. The technical indicators show that ONE is performing excellently. If the rally continues, it could soon top the $0.40psychological level.
ONE is trading above its 50-day moving average of $0.246.The MACD linehas been above the neutral zone since December 26, while the RSI of 72 shows that ONE could soon enter the oversold region.
Thisarticlewas originally posted on FX Empire
• British Pound Breaks 1.37
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• Harmony Rallies by 14% in 24 Hours Following Datachain Grant
• Bitcoin and Ether See Crucial “Liftoff”, SOL Bulls Aim Big
• AUD/USD Reaction to .7274 – .7341 Sets Near-Term Tone
• Australian Dollar Continues to Power Higher || Shiba Inu Developers Have the #ShibArmy Barking After Shiberse Announcement: The past few days have been rough for digital currencies. Therefore, projects are trying to make the best of the hand that theyre being dealt. Many projects are making announcements in an attempt to keep losses to a minimum, like Cardano (CCC: ADA-USD ) with the launch of its SundaeSwap (CCC: SUNDAE-USD ) DEX. Shiba Inu (CCC: SHIB-USD ) is another project finding the silver lining in the middle of a broader market crash. SHIB developers are keeping the #ShibArmy excited today with an announcement regarding its coming metaverse. A concept token for the Shiba Inu (SHIB) crypto with lights sparkling in the background. Source: Shutterstock SHIB hasnt been spared from the crypto crash, even after its unprecedented gains in autumn. The network saw gains of over 900% in just a few weeks time, bringing lots of eyes to the token thats been dismissed time and again as a meme. But now, its shaving off these gains as a result of the crash. In the last week alone, SHIB has lost almost 30% of its value. Of course, the market will remain pinned down until Bitcoin (CCC: BTC-USD ) finds its floor. Indeed, the coin has an overwhelming majority of the crypto market share, and as such, it influences the entire industry with its price swings. In the meanwhile, though, SHIB developers are trying their hardest to force SHIB into the green. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shiba Inu Limits Crypto Crash Losses With Metaverse Announcement Shiba Inu is a trending topic on Twitter today thanks to the #ShibArmy the dedicated bulls who promote the currency constantly on the platform. Users are posting over 44,000 tweets with the hashtag today. And the bullishness is not random; Shiba Inu developers are giving fans something to be truly excited for. The next major Shiba Inu upgrade is on the horizon, as the SHIB team is announcing today. Developers are spurring lots of optimistic chatter on the Shiberse, a spin on the increasingly popular metaverse . After teasing the Shiberse throughout the end of 2021, the projects leads say the space will be ready this year . Story continues Indeed, Shiberse is making quite a statement to those who have been bearish on the project. SHIB developers are crafting the metaverse alongside prominent Australian game developer PlaySide Studio . The project is also being directed by former Activision Blizzard (NASDAQ: ATVI ) developer William Volk. And with Microsoft (NASDAQ: MSFT ) making moves to acquire Activision, SHIB holders are seeing the news as a bullish indicator for the direction the project is heading in. On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS Now Man Who Called Black Monday: Prepare Now. #1 EV Stock Still Flying Under the Radar Interested in Crypto? Read This First... The post Shiba Inu Developers Have the #ShibArmy Barking After Shiberse Announcement appeared first on InvestorPlace . || Crypto Miner Digihost's December Bitcoin Production Falls 11%: Nasdaq and TSX listed crypto miner Digihost (DGHI) saw a drop in bitcoin production in December 2021, according to a press release on Wednesday. The company mined 61.53 bitcoin in December, down 11% compared to 69.01 in November, according to the statement. Mining difficulty on the bitcoin network has been increasing since a July low, as more miners are coming online. The number brings Digihost's total bitcoin mined for the fourth quarter to 172.4, its highest on record. The December yield took its total bitcoin holdings to 631.9 ($27.4 million). In May, Digihost bought 10,000 machines from Northern Data, which have been gradually shipped to its facilities. The remaining 3,400 mining rigs will arrive at its data center by the end of February, the company said. In July, it also signed a co-mining deal with Bit Digital for a 100 megawatt facility. It expects the mining machines to be deployed in Q2 2022. The miner has also received "all planning board permits and compliance approvals" to ramp up the development of a 60MW power plant in New York, which it expects to be completed by mid-February. However, it is still waiting for the final approval from utilities regulator, Public Service Commission, for the acquisition of the building. Digihost also changed its Q3 earnings statement to account for a $1,498,085 deferred tax provision as an expense, turning a reported Q3 2021 profit of $762,931, to a loss of $771,154. Read more: Bitcoin Mining Profitability Starts Falling After Stellar Year: Research || Alchemy Pay CEO Speaks at U.S. Trade Mission in Singapore and Demonstrates Broadening Acceptance of Crypto: Singapore, Singapore--(Newsfile Corp. - December 28, 2021) - This month, the Virtual Trade Mission for Blockchain, Crypto & Digital Asset Funds was hosted by the US Embassy in Singapore and the US Department of Commerce. The event was a chance for Asian investors to meet with leading US blockchain and crypto fund managers. The success of the event demonstrated that interest in crypto is broadening and that the United States and Asia remain at the forefront of global support for this innovative technology. For the Department of Commerce, this is an opportunity to work on extending US asset managers' position in the crypto and digital assets area for Asian companies, and introducing new avenues to do so. Asian investors were given the chance to virtually "speed-date" with US fund managers. Guests were introduced to several investment strategies in 15-minute periods. Nowadays, blockchain-related strategies include venture capitals, hedge funds, and tokenization, to name a few. After a successful event the closing speech was given by Alchemy Pay 's CEO, John Tan, on behalf of the recently formed Blockchain Infrastructure Alliance. Despite the Chinese government's move to ban all crypto-related activities, Asia still remains the world leader in crypto adoption and use. Asia's early embrace of NFTs and blockchain gaming has been a key driver of interest. Mark Zuckerberg's recent pivot to the metaverse is bringing another wave of investment to crypto where the metaverse concept has been in development for a long time. For the US, the Trade Mission is another sign that the industry is moving further into the mainstream and has the attention of mainstream investment institutions. This investment has supported digital assets and blockchain infrastructure in a variety of ways beyond just holding Bitcoin. High profile projects such as FTX exchange or MoonPay have received huge funding, demonstrating a growing belief in an economy around crypto. Indeed, crypto startup investment has never been stronger. A report by the crypto data firm CB Insights , showed that the third quarter of 2021 was the biggest ever for crypto startup investing, globally. Story continues During his address, Tan highlighted the progress he had seen over the past 18 months and BIA's ability to create a cohesive, connected infrastructure for the blockchain industry. He later remarked on the forward-thinking nature of the organisers and the significance of the event, "we are very happy to see the positive approach that the US Department of Commerce is showing the industry with this event here today. This Trade Mission shows the high level of interest from investors for crypto and for all forms of digital assets." Blockchain-focused US Trade Missions have so far taken place in Germany, Switzerland, and Hong Kong, and Singapore. Jacob Katsof, Vice President of TradeMissions.org who runs the blockchain efforts says that 2022 will include Trade Missions to the UAE, Mexico, UK, in addition to to Singapore, Hong Kong, Germany and Switzerland. These events are evidence that mainstream society is now acknowledging a future in which blockchain technology and cryptocurrency will play a major role. About Trade Missions Trade Missions, in collaboration with the US Department of Commerce's International Trade Administration, organizes Trade Missions to help US Alternative Asset Fund Managers connect with capital sources. The purpose of the Trade Mission is to assist US fund managers in raising capital outside of the United States. It has effectively assisted many of America's fund managers in obtaining capital from throughout the world. For more information visit: www.trademissions.org About BIA The Blockchain Infrastructure Alliance (BIA) was founded by a group of seasoned incubators, with Alchemy Pay, Conflux Network, Polyon, NEAR, and NEO as founding members. The BIA believes that sharing expertise, viewpoints, and resources is mutually beneficial as friends and industry veterans. They recognize that the expansion of blockchain networks has created new issues, and they see the necessity to provide infrastructure that connects blockchain. For more information visit: www.bia.network Media Contact Details for Alchemy Pay Website - Email - Twitter - LinkedIn - Medium To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108487 || Odell Beckham Jr. Suffers Major Salary Loss After Bitcoin Decline: When the Cleveland Browns decided to drop Odell Beckham Jr. from their team, the Los Angeles Rams signed the wide receiver, OBJ opted to take his entire NFL salary in Bitcoin . At the time, Bitcoin was hitting all-time highs and breaking currency records and was even worth approximately $64,000 USD per coin. While it appeared to be a great decision then, Bitcoins dip in the market has shattered the price of the coin. The cryptocurrency is now worth around half of the aforementioned price, hovering at $35,000 USD. The news of Bitcoin's price drop is unfortunate for Beckham's earnings. Darren Rovell reported that his entire salary is now worth only $413,000 USD as opposed to the $750,000 USD, excluding taxes. Once taxes are factored in, OBJ makes around $35,000 USD which equates to just one Bitcoin. Since there is no guarantee if Bitcoin will continue to fall or reach the same heights as prior, it is uncertain if OBJ will benefit in the future. However, it is certain that as of now, OBJ has not received the best of news in regards to his salary. Take a look at Rovell's breakdown below. The amount of people applauding players changing their salary into Bitcoin as if they were heroes has been comical. Rams WR Odell Beckham Jr., at least in the moment, provides a cautionary tale. pic.twitter.com/uW0QDdJrYy — Darren Rovell (@darrenrovell) January 23, 2022 In case you missed it, Green Bay Packers QB Aaron Rodgers talks about making a difficult decision about his football future . || Eurozone Trade Data Tests EUR Support after First Deficit Since 2014: It was a busier day on the Eurozone economic calendar. Finalized inflation figures for France and Spain were in focus along with trade data for the Eurozone. French inflation France’s annual rate of inflation held steady at 2.8% in December, which was in line with prelim figures. Month-on-month, consumer prices increased by 0.2% after having risen by 0.4% in November, which was in line with prelim figures. According to Insee.fr , Energy prices fell by 0.9%, month-on-month, after having risen by 1.5% in November. The prices of services were up 0.4% versus 0.2% in November and food prices were up 0.5% versus 0.4% in the month prior. Year-on-year, core inflation was up 2.0%, however, picking up from 1.7% in November. Prices for manufactured goods were up 1.2% versus 0.8% in November. Food prices rose by 1.4% after a 0.5% in November. Spanish Inflation Spain’s annual rate of inflation accelerated from 5.5% to 6.5%, which was down from a prelim 6.7%. Eurozone Trade In November, the Eurozone’s goods trade balance narrowed from €3.3bn surplus to €1.5bn deficit, versus a forecasted €7.6bn surplus. According to Eurostat , Euro area exports of goods to the rest of the world increased by 14.4% to €225.1bn, compared with Nov-2020. Imports from the rest of the world were up 32% to €226.6bn, compared with Nov-2020. The rise in imports was as a result of an increase in the value of energy imports. In Nov-2020, the Eurozone had a €25bn surplus. The last time the Eurozone recorded a deficit was in Jan-2014. Intra-euro area trade rose to €204.3bn in Nov-2021, up by 22.1% compared with Nov-2020. Market Impact Ahead of today’s stats, the EUR had fallen to a pre-stat and current day low $1.14514 before rising to a pre-stat and current day high $1.14829. In response to today’s stats, the EUR rose to a post-stat high $1.14748 before falling to a post-stat low $1.14555. At the time of writing, the EUR was up by 0.03% to $1.14578. Next Up ECB President Lagarde is scheduled to speak ahead of U.S retail sales figures for December. With the U.S annual rate of inflation at its highest since 1982, the markets will be looking for any impact of rising prices on consumer spending. Story continues Other stats include U.S industrial production and consumer sentiment figures. Expect the retail sales figures to be key. This article was originally posted on FX Empire More From FXEMPIRE: Euro Forming Potentially Bearish Closing Price Reversal Top Film Makers to Finance Movies with NFTs on New Platform FF3 US Dollar Continues to Plummet Against Yen Daily Gold News: Friday, Jan. 14 – Gold’s Short-Term Consolidation Spain Wants to be a Crypto Hub with 100 Bitcoin ATMs to be Installed in 2022 Helium (HNT) Eyes a Return to the $30 Level || Cryptocurrencies like Bitcoin are still not effective payment options: Touted, hyped and bannered as the new world money, cryptocurrencies have been blowing hot and changing how transactions are done in the real world. In a period of a few years, cryptocurrencies have grown from mere digital novelties into a trillion-dollar industry. Among its pillars is how it makes payments more effective than what it is today. Cryptocurrencies ride on the waves of blockchain technology. If you are unfamiliar with the term, blockchain is the digital, distributed, and decentralised ledger that underlies virtual tokens, and is responsible for recording transactions without the need for a financial intermediary, such as a bank. Blockchain is, in many ways, labelled as a huge game-changer and it’s the only reason we are raving about cryptocurrencies these days. However, a blockchain network is only as good as its ability to process, validate, and settle transactions efficiently. In reality, though many companies are growing to accept cryptocurrencies such as Bitcoin as payment methods. This, in turn, restricts how and where you can spend your money unlike using a debit/credit card. How cryptocurrency payments work Transactions done in traditional banks have a time frame. Transferring money can take a few minutes to get to the recipient, but sometimes could be longer. Blockchain technology is meant to make such transactions easier and faster in privatising items anywhere they are collected. Transaction time impacts the speed of receiving cryptocurrency. Sometimes, in 2017, it took an average time of 78 minutes to confirm a Bitcoin transaction . On the Bitcoin network today, the average confirmation time for a BTC payment is about 10 minutes. Nonetheless, transaction times can vary so much due to factors, such as the total network activity, hash rate, block time and size, and transaction fees. If the Bitcoin network is congested, there will be a backlog of transactions in the mempool, which is a record of all Bitcoin transactions that have not yet been validated by a miner and added to the next block on the blockchain Story continues In order for transactions to go through faster, users have to pay more transaction fees. This happened April 2021, where average Bitcoin transaction fees reached $59, according to CoinMarket. Credit card transactions, on the other hand, only take a few seconds to complete. Furthermore, on Ethereum, users pay a base fee to have their transactions verified by other users, known as miners. The average transaction fee on the Ethereum network rose to as high as $63 in November. That was its second-highest level ever, behind May’s record high of $70 . There’s not much mercy for the small fries on that ETH network. Another look at the ineffectiveness of cryptocurrency payment is the fact that payments made by mistake cannot be reversed like traditional banking payment systems. Bitcoin transactions are anonymous and unregulated, which breeds the disadvantage of lack of security. Likewise, all transactions completed through Bitcoin are irreversible and final, so pretty much zilch can be done if the wrong amount is sent or if it’s sent to the wrong recipient. In traditional banking systems, payment can be reversed if the wrong sum is sent or sent to the wrong recipient. This amount of accountability makes payment less fraudulent and traceable. That said, Ethereum 2.0 is an upgrade to the Ethereum blockchain which aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and reduce transaction fees. Ultimately, people believe that Bitcoin has value as wealth storage, similar to digital gold and that second-layer solutions — an additional framework that sits on top of the present blockchain — might improve its speed and make it more practical for use as an effective payment option. In the same vein, many still hold the notion that cryptocurrencies will be the new financial system. While that might be possible, there is still a lot that needs to be put in place to mitigate cost on the part of the sender and the receiver. In the meantime, one may hope that, at some point, in the blockchain technology upgrade, there might be a zero withdrawal fee which would ensure everyone has equal opportunity to be part of this financial ecosystem and fully enjoy purchases in the real world. || The Zacks Analyst Blog Highlights: PACCAR, America Movil, The Procter & Gamble Company, Micron Technology, Inc., and CME Group Inc.: Chicago, IL – January 3, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PACCAR PCAR, America Movil AMX,The Procter & Gamble Company PG, Micron Technology, Inc. MU, and CME Group Inc.CME.
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily, the last of 2021, features new research reports on 16 major stocks, includingThe Procter & Gamble Company,Micron Technology, Inc., andCME Group Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can seeall of today’s research reports here >>>
Shares ofProcter & Gamblehave outperformed the Zacks Soap and Cleaning Materials industry over the past year (+18.0% vs. +6.5%). Also, the company notched better-than-expected first-quarter fiscal 2022 results. The Zacks analyst believes that the company benefited from robust top-line growth across all segments driven by robust volume, pricing and mix. While it has reported an earnings surprise for more than three years, revenues beat estimates for the sixth straight time in first-quarter fiscal 2022.
However, unfavorable mix, commodity cost inflation, increase in freight costs and reinvestments and other impacts hurt the company’s margins, which weighed on the bottom line. It expects higher input and freight costs to persist in fiscal 2022.
(You canread the full research report on Procter & Gamble here >>>)
Micronshares have gained +27.9% over the past year against the S&P 500’s gain of +28.4%. The Zacks analyst believes that Micron is witnessing growing demand for memory chips from cloud-computing providers and acceleration in 5G (fifth-generation) cellular network adoptions. Rising mix of high-value solutions, enhancement in customer engagement and improvement in cost structure are growth drivers as well. Further, 5G adoption beyond mobile is likely to spur demand for memory and storage, particularly in (Internet of Things) devices and wireless infrastructure.
However, Micron’s near-term profitability is likely to be hurt with its planned salary hikes. Additionally, higher levels of customer inventory in the cloud, graphics and enterprise market is a key threat. Soft server demand from several enterprise OEM (original equipment manufacturer) customers is also a concern.
(You canread the full research report on Micron here >>>)
CME Group’s shares have gained +25.8% over the past year against the Zacks Securities and Exchanges industry’s gain of +27.5%. The Zacks analyst believes that CME Group’s strong market position driven by varied derivative product lines bodes well. Efforts to expand and cross sell through strategic alliances, acquisitions, new product initiatives and a stable global presence bode well. Product innovation and growing proportion of volume from customers outside the United States have been aiding results.
However, escalating expenses due to higher technology cost are likely to put pressure on the company's margin expansion. Diversified product portfolio is significantly exposed to volatile interest rate, firm government regulations and limited credit availability in unstable capital and credit market. Also, stiff competition poses financial risk.
(You canread the full research report on CME Group here >>>)
Other noteworthy reports we are featuring today include PACCAR and America Movil.
Wishing our readers a wonderful New Year!
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCME Group Inc. (CME) : Free Stock Analysis ReportAmerica Movil, S.A.B. de C.V. (AMX) : Free Stock Analysis ReportProcter & Gamble Company The (PG) : Free Stock Analysis ReportMicron Technology, Inc. (MU) : Free Stock Analysis ReportPACCAR Inc. (PCAR) : Free Stock Analysis ReportTo read this article on Zacks.com click here. || Bitcoin (BTC) Loses Steam After Tapping $39,000 Resistance: BeInCrypto –
Bitcoin (BTC) managed to return to the $38,919 level since falling below the area on Jan 21. It’s fallen back some since then but it’s possible that it has completed a short-term corrective structure.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || 8 Top Penny Stocks to Watch Today: EVGRF, PTE, BLCT, GNPX, AFI, CELZ, AUVI, WAVE: We’re diving into the top penny stocks to watch today as several names in the space see major movement. Stacks of pennies sitting around each other representing Top Penny Stocks to Watch Today Source: John Brueske/Shutterstock.com Penny stocks are a favorite among day and retail traders looking to make a quick buck. That’s thanks to the easy entry point and ability to affect the stock price without as much effort as a more expensive stock. This has resulted in a rise in penny stock pump and dumps over the last year. That’s the result of traders on social media, as well as in private chatrooms, banding together to push prices of these types of stocks higher before leaving with the profits. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Of course, that also makes them a dangerous investment. The crash after a rally can come quick and investors that don’t practice enough caution may find themselves holding the bag when it’s all said and done. Even so, there’s no denying that allure that comes from a high risk/ high reward investment, which is why we’re covering the top penny stocks to watch today below! 7 of the Best Growth Stocks to Buy for 2022 Top Penny Stocks to Watch Today China Evergrande (OTCMKTS: EVGRF ) stock is taking a 15% beating on reports that of orders to destroy certain apartment buildings . Polarityte (NASDAQ: PTE ) shares are rising 10.8% with heavy trading and no news. BlueCity Holdings (NASDAQ: BLCT ) stock is gaining 20.4% following a buyout announcement . Genprex (NASDAQ: GNPX ) shares are soaring 87.1% thanks to fast-track news from the FDA . Armstrong Flooring (NYSE: AFI ) stock is gaining 26% after discussing a potential sale of the business as it explores strategic alternatives . Creative Medical Technology (NASDAQ: CELZ ) shares are jumping 41.6% higher thanks to interest from retail traders today . Applied UV (NASDAQ: AUVI ) stock is rising 31.8% on no clear news and heavy trading of its shares. Eco Wave Power (NASDAQ: WAVE ) is also seeing heavy trading on no apparent news today. Investors seeking more stock market discussions are in the proper place. We’ve got all the most recent stock chatter that traders need to know about today. A few examples include what’s happening with shares of Tesla (NASDAQ: TSLA ), Immix Biopharma (NASDAQ: IMMX ), and Marathon Digital Holdings (NASDAQ: MARA ) today. You can find out more from the following links! More Monday Stock Market News Tesla Stock Looks Like a 2022 Winner After Its Q4 Delivery Beat IMMX Stock Alert: The Massive FDA Win That Has Immix Biopharma Blasting Higher Today MARA Stock Shrugs Off Rough Year End Thanks to Bitcoin Mining Boom On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Story continues With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Man Who Called Black Monday: “Prepare Now.” #1 EV Stock Still Flying Under the Radar Interested in Crypto? Read This First... The post 8 Top Penny Stocks to Watch Today: EVGRF, PTE, BLCT, GNPX, AFI, CELZ, AUVI, WAVE appeared first on InvestorPlace . View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 44338.80, 43565.11, 42407.94, 42244.47, 42197.52, 42586.92, 44575.20, 43961.86, 40538.01, 40030.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-03-04]
BTC Price: 8755.25, BTC RSI: 40.01
Gold Price: 1641.10, Gold RSI: 59.47
Oil Price: 46.78, Oil RSI: 33.91
[Random Sample of News (last 60 days)]
The Crypto Daily – Movers and Shakers – 22/01/20: Bitcoin rose by 1.11% on Tuesday. Reversing a 0.70% fall from Monday, Bitcoin ended the day at $8,734.1. A relatively range-bound start to the day saw Bitcoin rise to an early morning high $8,683.1 before falling to a mid-morning low $8,605.9. After having avoided the major support levels early on, Bitcoin slid to a late intraday low $8,500.0. The sell-off saw Bitcoin fall through the first major support level at $8,524.83 before bouncing back to an intraday high $8,787.2. Bitcoin came up against the first major resistance level at $8,746.33 before easing back. The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of the continued upward momentum. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the top 10 cryptos, it was a bullish day for the majors. Binance Coin (+4.51%), Bitcoin Cash SV (+4.19%), Cardano’s ADA (+5.21%), and Tron’s TRX (+4.39%) led the way. Ethereum (+1.52%), Monero’s XMR (+1.84%), Ripple’s XRP (+1.47%) also found strong support. Bitcoin Cash ABC (+0.73%), EOS (+0.96%), Litecoin (+0.65%), and Stellar’s Lumen (+0.32%) trailed the pack. Through the early part of the week, the crypto total market cap rose from a Monday low $234.19 to an early Wednesday high $241.84bn. At the time of writing, the total market cap stood at $241.84bn. Bitcoin’s dominance continued to sit at sub-66% levels following Tuesday’s modest gains relative to the pack. Trading volumes continued to ease back. On Monday, volumes had hit $122bn levels before falling back to sub-$90bn levels. At the time of writing, 24-hr volumes stood at $88.64bn. This Morning At the time of writing, Bitcoin was down by 0.02% to $8,732.7. A range-bound start to the day saw Bitcoin rise to an early morning high $8,744.9 before falling to a low $8,730.5. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was a bullish start to the day, with Bitcoin Cash SV up by 1.41% to lead the way. Ripple’s XRP and Bitcoin Cash ABC weren’t far behind with gains of 0.63% and 0.52% respectively. For the Bitcoin Day Ahead Bitcoin would need to break back through Tuesday’s high $8,787.2 to support a run at the first major resistance level at $8,847.53. Support from the broader market would be needed, however, for Bitcoin to break back through to $8,800 levels. Barring a broad-based extended crypto rally on the day, the first major resistance and would likely limit any upside. In the event of another breakout, Bitcoin could test the second major resistance level at $8,960.97 before any pullback. We would expect Bitcoin to continue to come up short of $9,000 levels on the day. Failure to move back through Tuesday’s high $8,787.2 could see Bitcoin struggle. A fall through to sub-$8,670 levels would bring the first major support level at $8,560.33 into play. Barring a broad-based crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,386.57. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast – Gold Markets Choppy On Tuesday Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 22/01/20 AUD/USD Price Forecast – Australian Dollar Continues To Find Support European Equities: A Lack of Stats Leaves the Majors in the Hands of the News Wires USD/JPY Price Forecast – US Dollar Finds Buyers On Dips Against Japanese Yen EUR/USD Price Forecast – Euro Rallies After Strong German ZEW || Bitcoin Dips Below 8,589.4 Level, Down 0.35%: Bitcoin Dips Below 8,589.4 Level, Down 0.35% Investing.com - Bitcoin fell bellow the $8,589.4 level on Sunday. Bitcoin was trading at 8,589.4 by 10:19 (15:19 GMT) on the Investing.com Index, down 0.35% on the day. It was the largest one-day percentage loss since February 29. The move downwards pushed Bitcoin's market cap down to $156.7B, or 62.48% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $8,523.9 to $8,737.2 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a drop in value, as it lost 12.93%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $35.6B or 27.99% of the total volume of all cryptocurrencies. It has traded in a range of $8,451.9355 to $9,981.0371 in the past 7 days. At its current price, Bitcoin is still down 56.77% from its all-time high of $19,870.62 set on December 17, 2017. Elsewhere in cryptocurrency trading Ethereum was last at $221.40 on the Investing.com Index, down 0.67% on the day. XRP was trading at $0.23207 on the Investing.com Index, a loss of 0.80%. Ethereum's market cap was last at $24.3B or 9.70% of the total cryptocurrency market cap, while XRP's market cap totaled $10.2B or 4.06% of the total cryptocurrency market value. Related Articles Switzerland files criminal complaint over Crypto spying scandal EOS Dips Below 3.5760 Level, Down 0.01% The BCH Question: How to Recover After $30M Hack and Mining Tax Row? || XRP Soars 30% In a Green Day: Investing.com - XRP was trading at $0.32287 by 10:30 (15:30 GMT) on the Investing.com Index on Wednesday, up 30.19% on the day. It was the largest one-day percentage gain since January 15.
The move upwards pushed XRP's market cap up to $10.28480B, or 4.15% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B.
XRP had traded in a range of $0.22651 to $0.32287 in the previous twenty-four hours.
Over the past seven days, XRP has seen a rise in value, as it gained 11.46%. The volume of XRP traded in the twenty-four hours to time of writing was $2.94369B or 1.73% of the total volume of all cryptocurrencies. It has traded in a range of $0.2005 to $0.3229 in the past 7 days.
At its current price, XRP is still down 90.19% from its all-time high of $3.29 set on January 4, 2018.
Bitcoin was last at $8,810.3 on the Investing.com Index, up 1.39% on the day.
Ethereum was trading at $179.40 on the Investing.com Index, a gain of 13.12%.
Bitcoin's market cap was last at $159.88000B or 64.58% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.96401B or 7.26% of the total cryptocurrency market value.
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UAE Can Save Over $3B by Deploying Blockchain, New Research Reveals || GBP/USD Daily Forecast – Sterling Threatens Break of Major Support: GBP/USDhas once again retreated to the same support level that held it higher several times last month. As a result of the overall heavy tone seen throughout the week, the odds favor an eventual downside break.
The currency pair started the week with a gap down and fell nearly 1.5% on Monday. Since then, recovery attempts have been short-lived with sellers quick to jump in on rallies.
Better than expected purchasing managers survey data for the services sector earlier this week offered a small rally, however, the gain has since been erased. Considering that the services sector is the largest contributor to UK GDP, the price action certainly suggests a strong bearish bias in the pair.
A downside break would be very significant forGBP/USD. The horizontal level in play at 1.2960 has not only supported price action on several tests in the year thus far, but it was also a major hurdle in the fourth quarter of 2019.
Further, while the pair has been rallying since September, a bearish break would provide technical evidence of a trend change. To be clear, a downside move below support stands to enforce a bearish view for technical traders for months to come.
Support at 1.2961 has been holding the pair higher, but so far, there has not been any technical indication of a recovery from the level. At the same time, a catalyst might be required for a downside break.
The ADP report yesterday showed a much larger increase in US jobs than analysts had expected. In this context, tomorrow’s NFP report is could come in strong, and this might offer the catalyst bears are looking for.
Upside resistance for the pair is found at 1.3050 and a recovery rally ended this week after briefly piercing above the level. It would take a break above it to mitigate the near-term downside pressure.
Some support is seen at 1.2903 in the event the pair breaks down. This same level held the pair higher post-election. However, a more likely first bearish target is found at 1.2788.
• Price action this week has been heavily skewed to the downside for GBP/USD hinting of a bearish break to come.
• A downside breach below 1.2961 could see the pair extending lower towards 1.2788.
• A break above 1.3050 is required to ease the near-term bearish pressure.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Stock Market Hedge Buying Driving Prices Higher || Coronavirus: European stock markets stage 'mild' rebound: A paramilitary officer wearing a face masks stands guard at the Tiananmen Gate, as the country is hit by an outbreak of the new coronavirus, Beijing, China, 27 January 2020. Photo: Carlos Garcia Rawlins/Reuters European stocks rebounded on Tuesday morning, despite continued fears about the outbreak of the deadly coronavirus in China. The death toll from the coronavirus has risen to 106, China’s National Health Commission has said. Authorities reported 25 new deaths on Tuesday, including one in the capital of Beijing. In China, 50 million people remain under lockdown in a bid to contain the virus’s spread. “As a minimum, Chinese data is going to take a notable hit for many weeks and getting a true read of underlying momentum is going to be hard,” Deutsche Bank strategist Jim Reid wrote. Despite this, European stock markets opened in the green on Tuesday morning. The FTSE 100 ( ^FTSE ) opened up 0.5% in London, France’s CAC 40 ( ^FCHI ) opened 0.4% higher, and the German DAX ( ^GDAXI ) rose 0.3%. The small rises across major indexes came after sharp falls across equities on Monday . Neil Wilson, chief market analyst at Markets.com, attributed the “very mild rebound” to investors buying discounted shares after yesterday’s steep falls. “We are not convinced this will hold,” Wilson said. “One feels equities face headwinds still, as the peak of this health crisis is some way off still.” The VIX volatility index ( ^VIX ) — a measure of future volatility expectations colloquially known as the “fear index” in the market — spiked 16.7% to reach its highest level since October. US stock markets suffered some of their steepest falls in months on Monday. Oil also sold off sharply and remain subdued below $60 per barrel by Tuesday morning ( CL=F , BZ=F ). Gold ( GC=F ) spiked last week as the virus spread and remained at elevated levels, trading close to $1,577.10 per ounce. Bitcoin ( BTC-USD ) and Japanese yen ( JPY=X ) have also seen recent gains amid investor appetite for ‘safe haven’ assets. Bitcoin was holding steady, up 0.7% against the dollar to $8,981.56, and the yen was flat against the dollar. Chinese stock markets remain closed for Lunar New Year celebrations, which have been extended by authorities in Beijing in a bid to try and contain the virus by limiting travel. Japan’s Nikkei ( ^N225 ) closed down 0.5% and the Kospi ( ^KOSPI ) in Korea closed down 3%. || Barron's Picks And Pans: Berkshire Hathaway, Bitcoin, Roku And More: This weekend's Barron's cover story explores what comes next for the empire that Warren Buffet built. Other featured articles present the annual ranking of top fund families, examine regulatory issues at tech giants and review the performance of former Dividend Aristocrats. Also, the prospects for two natural gas picks, a leading cryptocurrency and more. Cover story " Inside Berkshire Hathaway's Future Without Warren Buffett " by Andrew Bary makes a case that as the Oracle of Omaha turns 90 this year, the company he built, Berkshire Hathaway Inc. (NASDAQ: BRK-A ), could be in for a stock-boosting makeover. Sarah Max's " Barron's Top Fund Families of 2019 " shares why MFS Investment Management was the big winner in the Barron's annual ranking of how the industry performed in its actively managed mutual and exchange-traded funds. In " Avoid Natural Gas Stocks Except for These 2 Names ," Avi Salzman points out that most natural-gas stocks look like dismal investments as gas prices plummet. See why Barron's says Cabot Corp (NYSE: CBT ) and one other pick may buck that trend. Regulators and presidential candidates are calling out big tech companies like Amazon.com, Inc. 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So says Bill Alpert and Connor Smith's "Marijuana Companies Could Burn Through Cash in Months." In "There's No Doubt Roku Is Growing Fast. But Analysts Are Split on the Stock," Nicholas Jasinski suggests that though the latest results from Roku Inc (NASDAQ: ROKU ) blew past their expectations, analysts still must weigh its rapid growth and large, still-untapped market against the stock's rich valuation. Also in this week's Barron's: Whether a stock and bond "twin bubble" is forming Story continues Why silver prices are poised to rise more this year The new director who bought $1 million in stock How a small-cap fund finds exceptional growth overseas Activist investors making moves in restaurant stocks At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. See more from Benzinga Benzinga's Bulls And Bears Of The Week: GM, Luckin, Slack, Tesla And More Benzinga's Bulls And Bears Of The Week: Apple, Comcast, GE, Netflix And More Barron's Picks And Pans: GM, Kraft Heinz, Tesla, Under Armour And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin News Roundup for Feb. 12, 2020: With bitcoin above $10,000, Markets Daily is back with our news roundup, plus a brief interview with CoinDesk Senior Markets Reporter Brad Keoun.
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Today’s News:
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Today’s show features a brief interview with CoinDesk Senior Markets Reporter Brad Keoun on his story:
Childhood Friends Battle Over Ownership of North America’s Largest Bitcoin Mine
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• Crypto News Roundup for Feb. 11, 2020
• On the Frontlines of the SEC Safe Harbor Proposal With CoinList Co-Founder Andy Bromberg || Bitcoin has fallen 10% this week amid coronavirus fears: Bitcoin ( BTC-USD ) is not behaving like a “store of value” this week. The top cryptocurrency is often touted as a good store of value (still its best use case, according to bitcoin believers) and a “safe haven” asset to hedge against economic uncertainty and market volatility. But this week, as stocks have seen their fastest correction in history , crypto has fallen right along with stocks. S&P 500, Dow, and bitcoin performance from Feb. 24 through market open on Feb. 28, 2020. Bitcoin is down more than 10% since Monday morning, below $8,700 and far from its 2020 high of around $10,450 on Feb. 12. Now bitcoin is up only 22% for the year, after it had been up close to 50% just two weeks ago. Among the three largest market-cap coins after bitcoin, ether ( ETH-USD ) is down 15% in the past five days, ripple ( XRP-USD ) is down 14%, and bitcoin cash ( BCH-USD ) is down 17%. Yahoo Finance’s handy cryptocurrency heatmap has shown a mix of blood red and salmon pink in coins all week, reflecting the losses. A man walks past the Bitcoin ATMs in Hong Kong, Thursday, Dec. 21, 2017. (AP Photo/Kin Cheung) Gold, the original “safe haven,” has weathered the stock correction: it’s flat over the past five days, and up 5% in the past month. So, what’s the problem with crypto? Mati Greenspan of Quantum Economics theorized this week that bitcoin was never “a safe haven against declining profits,” which is the chief concern in the market right now as big companies issue warnings about coronavirus crippling their earnings projections ; rather, Greenspan wrote, bitcoin is a safe haven “against inflation, geopolitical strife, and central banks.” It’s also not quite fair to isolate just the past week to examine bitcoin’s value as an investment class. It’s up 130% in the past 12 months, and up 3,000% in the past five years. “This is still a very nascent, volatile asset class,” says Frank Chapparo of bitcoin news site The Block. “If I’m an investor and I want predictability in my portfolio, I’m not going to be outsized allocating to bitcoin and other digital assets. Now, that doesn’t mean that this narrative of bitcoin being a hedge against global economic insecurity or political insecurity [is wrong]. That’s still something that could play out over the next ten, fifteen, twenty years.” Story continues The fact that BTC could not rally in the face of the advance by Gold prices and drop in equities was a "tell" pic.twitter.com/GpCiXjB5cD — Peter Brandt (@PeterLBrandt) February 26, 2020 One possible conclusion is that bitcoin is still, at times, a safe haven or flight to safety, but that a global crisis like coronavirus is too hard to overcome; this is a risk-off moment in markets. Or you could conclude bitcoin remains completely uncorrelated to mainstream markets. As BitGo cofounder Ben Davenport tweeted on Wednesday, bitcoin “is neither a risk-on nor a risk-off asset at this point. It still marches to the best of its own drum.” But some of the biggest and most prominent bitcoin bulls are still bullish on the “safe haven” theory. Tyler Winklevoss on Wednesday night, as the price of bitcoin was sinking, tweeted : “At some point people will wake up and realize that bitcoin is the best safe haven asset the world has ever seen. Until then, opportunity abounds.” — Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @ readDanwrite . Read more: Bitcoin tumbles along with stocks amid coronavirus, questioning 'safe haven' theory Fed Chair Jay Powell grilled on China's cryptocurrency plans, US response Facebook-led Libra Association has lost 8 'founding members' IRS adds specific crypto question to 2019 tax form Cryptocurrency CEO who paid $4.6M for lunch with Buffett: 'It might be unrealistic' Exclusive: SEC quietly widens its crackdown on ICOs Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , YouTube , and reddit . || With Central Bank Digital Currencies, States Are Reasserting Power Over Money: James Cooper is a professor of law at California Western School of Law in San Diego. A former contractor for the U.S. and adviser to governments and indigenous peoples concerning disruptive technologies for the legal sector, he has advised blockchain companies in Asia. In the heyday of cryptomania, when everyone was investing in any idea that had the word “blockchain” attached to it, there was much speculation about the end of the state. Distributed ledger technology would not only bring about the demise of intermediaries like big technology platforms and overfed financial institutions, but it would also challenge the primacy of the sovereign state itself. Decentralization would mean that the democratic process could be more horizontal, more responsive, more direct and more efficient. Blockchain technologies and the cryptocurrencies built thereon were also set to challenge the monopoly that states have maintained on currency. Traditionally, the creation, printing and control of legal tender has been an activity strictly reserved for states. The development of state-sanctioned, sovereign-backed cryptocurrencies, however, have meant that the state is not out yet. Not by a long shot. Related: Algorand Blockchain Chosen as Underlying Tech for Marshall Islands’ Digital Currency A handful of countries have entered the brave new world of sovereign digital currencies. The biggest and most ambitious central bank digital currency project is China’s Digital Currency/Electronic Payment (DC/EP). On Oct. 24, 2019, a day now called “China Blockchain Day,” President Xi Jinping announced his country’s blockchain strategy and the rollout of its new state-sanctioned cryptocurrency project. While many major financial leaders feared being the first movers, China studied blockchain for years while outlawing cryptocurrencies. Again and again, China banned Initial Coin Offerings and cryptocurrency exchanges. The country’s law enforcement authorities even deterred Chinese hotels from hosting crypto-oriented conferences. Story continues When Facebook’s Mark Zuckerberg warned Congress it had better support the social media company get its Libra digital currency to market lest China get a head start, the bureaucrats in China moved into high gear. Within months, they launched the DC/EP plan with initial testing in Suzhou and Shenzhen. The system’s strength is its interoperability and the fact one does not have to be online to use it. That it is linked to the Chinese national currency – the yuan or renminbi – does not hurt either. By layering insurance, health care, finance, energy and consumer purchasing into one unified public blockchain, there will be economies of scale and more efficient distribution of private and public goods. And not just in China but around the world with the 71 partners in its ambitious Belt and Road Initiative. Long before the DC/EP came the Marshallese sovereign (SOV), the national digital currency promoted by the Republic of the Marshall Islands. The SOV will be introduced through a sale over an extended period of time through a Timed Release Monetary Issuance. The Marshall Islands must improve the nation’s anti-money laundering (AML) and know your client (KYC) rules so that the SOV does not run afoul of United States Treasury and International Monetary Fund regulations. An even shadier central bank digital currency project – the Venezuelan Petro – was released last year in the midst of the one million percent inflation afflicting the South American hydrocarbon giant nation’s economy. But with United States sanctions against Venezuela and the fact that the digital assets are backed by oil reserves that have already been pledged for Chinese and Russian loans, this project is a failure. Related: Why Aren’t the Candidates Talking About Digital Currency? On the other end of the “let’s try out a sovereign-backed digital currency” spectrum is the normally conservative Sweden, which announced two weeks ago the Sveriges Riksbank’s pilot of an e-krona project. This trial is an attempt by the Swedish Central Bank to study the manner in which Swedes – known for their aversion to using cash – would utilize a national digital currency. As other developed, industrialized countries follow suit, the state will continue to play a critical role in our lives. It is no secret that the primary role that the state has maintained for centuries has been whittled away through privatization, deregulation and the outsourcing of other inherently governmental activities like education, healthcare, telecommunications, waste management and feeding and arming our troops. This hollowing-out process is by no means complete. The state is making a comeback with the advent of sovereign backed digital currencies. After all, nothing is more centralizing than a state’s control over decentralized technologies like blockchain and cryptocurrency. Related Stories How to Stop the Next Quadriga: Make Exchanges Prove Their Reserves Bitcoin, Uncertainty and the Ultimate Narrative || Top 5 Potentially Profitable Cryptocurrencies in 2020: Investment Advice: Cryptocurrency is a potentially great digital asset for investment. Some cryptocurrencies have better options for investment in 2020. Do you want to know what digital currencies are worth investing your money in the next 12 months? Read the following recommendations.
Despite the international trend of cryptocurrency devaluation in 2019, some coins still possess a very good potential for making quick and long-term ROI. Do not pay attention only to the current rate of cryptocurrencies because this index is the most volatile and may change drastically within a few weeks (take, for instance, the dramatic drop of Bitcoin price in 2018). On the contrary, consider the following factors and indicators:
• Market capitalization – the value of all issued digital coins of the particular cryptocurrency. High market cap means a large volume of the crypto coins participating in active transactions, which means an enhanced interest of investors;
• Liquidity level – the higher it is, the faster a cryptocurrency can be sold at the market price. The most popular cryptocurrencies – Ethereum, Bitcoin and Ripple – have a high liquidity rate. Trading activity on exchanges indicates the number of transactions with certain cryptos made over a certain period. This indicator shows an actual demand in particular cryptocurrencies among traders;
Check the current top 10 cryptocurrencies with the highest market cap (January 28, 2020):
Rules to learn before investing in cryptocurrencies in 2020
According toAMarketsexpert Artem Deev, the following recommendations will help to minimize risks and increase ROI for cryptocurrency investors this year:
• Diversify your investments – never invest money in one asset. New traders and investors make this mistake repeatedly and, as a result, lose all money after the first failing deal. Diversify your investment portfolio. At least one of the chosen cryptocurrencies will bring profits and you will be able to minimize losses;
• Do not blindly trust one source of data – always use a few sources (chats, forums, expert opinion, financial analysis, brokers);
• Learn and observe – it is the only way to pick the best cryptocurrencies and the entry point to this extremely volatile market;
Top 5 cryptocurrencies to invest in 2020:
1.Bitcoin
In May 2020, the first and major cryptocurrency developers will offer 50% reduced rewards – 6.25 BTC instead of 12.5 BTC for each verified block. However, apart from that, Bitcoin is likely to bring the dominance index to 65-70% compared to other altcoins. In such a way, it can become the cryptocurrency with the largest market capitalization. These factors may significantly affect the growth of its price in 2020. Active use of Lightning Network may also change the BTC ecosystem. It will enable the implementation of Bitcoin in decentralized applications, micropayments, and e-commerce platforms. The current Bitcoin price (January 28, 2020) is $8 994,85.
2.Ethereum
Unlike Bitcoin, Ethereum is based on practical smart contracts used by many projects for the digitalization of transactions. The currency value may increase due to the increasing demand for its blockchain and functions, rather than a deficit of the asset as it happens with BTC right now. A major role in the success or failure of this currency will depend on upcoming fork updates and rapid implementation of the Proof-of-Stake algorithm. The approval by regulatory organizations and community decision to de-list ETH from the list of altcoins may also affect its price growth in 2020. The current ETH price is $171,38.
3. NEO
The NEO project is often included in different cryptocurrency investment ratings for the next year. This cryptocurrency breaks many stereotypes, including being the first open-source token originated from China. It claims to transform the traditional financial system by combining digital and real assets. Its unique Superconduct trading mechanism allows users to trust the funds through a decentralized platform. So, NEO’s appliance is beyond doubt, as its rapid demand growth. NEO may even hold an ICO, but so far it is trading at the level of $11,14 USD per token. The current NEO price is $11,14.
4.EOS
Chinese experts, according toCoinTelegraph, really like to include EOS to the list of the most promising cryptocurrencies for the next few years. Even if you don’t know much about crypto coins, it is definitely worth your investment in 2020. If Twitter, Uber, and Amazon ever move to a blockchain, the core of their work will definitely be EOS. The EOS system is free of Ethereum problems with scalability and it is ready to replace other competitive blockchains. If Ethereum fails, EOS can level up to 100 USD per token. EOS achievements become possible thanks to the consensus algorithm of delegated proof of ownership (DPoS) and an infinite number of similar blockchains. The current EOS price is $3,94.
5.Ripple
Some experts call XRP the “king of banking infrastructure”. The successful partnership with major financial market players made the Ripple ecosystem a breakthrough in the crypto industry. Take the latest integration with Western Union and the potential replacement of SWIFT to accelerate and reduce the cost of large money transfers between counterparties. However, do not expect huge profits with XRP in 2020, it is good for long-term investment. Even with the most optimistic approach, XRP price is unlikely to rise above 0.7 USD in the next couple of years. The current XRP price is $0,233759.
Cheap but potentially good for investment cryptocurrencies in 2020
Besides the obvious choices of popular cryptocurrencies, one ofAMarketsexperts – Basil Gamov – recommends to take a closer look at cheap but potentially great cryptocurrencies to invest in the next 12 months:
1) Chainlink (LINK) – appeared in 2017 in the USA. These crypto coins developed a technology that forms channels between different data providers employing smart blockchain technology. Chainlink allows all network operators, like information providers, to earn their token LINK. From an investment point of view, Chainlink has great potential. This is the list of partners who also believe in this crypto coin’s future: Dapps Inc, Google Cloud, ETHA, ConsenSys. The price (January 28, 2020) is $2,62. The market cap is $917 350 826.
2) Basic Attention Token (BAT) is another functional type of tokens based on the Ethereum blockchain. It is used only in the Brave browser. The cryptocurrency was launched in 2015. Developers offer a various concept of interaction for all network participants. Browser users pick to choose ads or not and can monitor the token’s price in real-time via Brave. The token has a very active and massive affiliate program, has the support of the Tor browser and DuckDuckGo search engine. The current token price is $0,218456. The market cap is $311 019 624.
3) Synthetix Network Token (SNX) is a potentially interesting platform network based on the ERC20 token. It helps to create synthetic assets (Synths) for tracking the value of physical assets. People can create and support their Synths and make money with them, without actually being the owners of these assets. The token appeared in 2017 and back then it was called Havven. The current token price is $1,19. The market cap is $193 220 205.
Sure, you are free to pick any cryptocurrency to invest in 2020. Remember to diversify and work with reliable exchange services and brokers to protect your investment deals from any fraud. Make sure to include crypto coins into your asset portfolio as soon as possible while top currencies like Bitcoin and Ethereum are still hot for investment.
Thisarticlewas originally posted on FX Empire
• Gold Daily News: Monday, February 3
• EUR/USD Builds Wave 4 Pullback Towards 50% Fib at 1.11
• China Shares Plunge Nearly 8% as Coronavirus Fears Grow
• Price of Gold Fundamental Daily Forecast – Demand for Risk Weighing on Prices
• Markets in Search for the Bottom
• Chinese Stocks in Freefall After Traders Return From Lunar New Year Holida
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-01-28]
BTC Price: 3470.45, BTC RSI: 37.30
Gold Price: 1302.40, Gold RSI: 67.42
Oil Price: 51.99, Oil RSI: 52.31
[Random Sample of News (last 60 days)]
USD/JPY Price Forecast – US dollar falls against Japanese yen: The US dollarhas pulled back a bit during the trading session on Tuesday, as the ¥110 level has been a bit too resistive to buyers. At this point, I think that the 61.8% Fibonacci retracement level will of course come into play, just as the 50 day EMA will. At this point, I think that signs of exhaustion on short-term rallies are selling opportunities, and that we will probably go back to test the ¥108 level. If we break down below there, then the market probably goes down to the ¥105 level, as it was where the flash crash stopped.
At this point, I think that the market participants will be a bit leery due to the Federal Reserve being on the sidelines, and of course we had recently broken through a major uptrend line. Beyond that, we have a “death cross” that had formed, so I think that it makes sense that a lot of people will be looking to get short of this market. The Japanese yen of course is a safety currency, so if you see a bit of a major negative headline out there, it will probably turn this market lower as well. Beyond that, the Bank of Japan looks likely to on quantitative easing going into 2019, at least that’s what traders are betting on right now. If that’s the case, a drop lower makes a lot of sense in this pair going forward.
Thisarticlewas originally posted on FX Empire
• Crude Oil Price Forecast – crude oil markets pull back
• Bitcoin And Ethereum Daily Price Forecast – Major Crypto Assets To Continue Range Bound Action
• The Davos Depression, EU Down On IMF Outlook, Earnings Beat Estimates In US
• Global slowdown is much closer than expected
• GBP/USD Price Forecast – British pound finds support
• Gold Price Forecast – Gold markets finding support on Tuesday || Pivotal Forecasts Good Year For Online Ads, Upgrades Adobe, Alphabet, Salesforce: Tech stocks have been on a wild ride since third-quarter earnings season kicked off, and one Wall Street analyst adjusted ratings on several big-name tech stocks Monday ahead of Q4 earnings.
The Analyst
Pivotal Research Group analyst Brian Wieser made the following rating and price target changes:
• Adobe Inc(NASDAQ:ADBE) upgraded from Hold to Buy, price target raised from $252 to $262.
• Alphabet Inc(NASDAQ:GOOG) (NASDAQ:GOOGL) upgraded from Hold to Buy, price target raised from $1,010 to $1,240.
• Amazon.com, Inc.(NASDAQ:AMZN) initiated with a Buy, $1,920 price target.
• Criteo SA(NASDAQ:CRTO) reiterated at Buy, price target raised from $38 to $42.
• Facebook, Inc.(NASDAQ:FB) reiterated at Sell, price target lowered from $125 to $113.
• Salesforce.com, Inc.(NASDAQ:CRM) upgraded from Hold to Buy, price target raised from $140 to $164.
• Snap Inc.(NASDAQ:SNAP) downgraded from Buy to Hold, price target lowered from $8 to $6.
• Trade Desk Inc(NASDAQ:TTD) reiterated at Sell, price target raised from $55 to $69.
• Twitter, Inc.(NYSE:TWTR) reiterated at Hold, price target raised from $28 to $30.
The Thesis
This year will be another good one for online advertising and marketing companies despite concerns over a potential economic downturn, Wieser said in the note. (See his track recordhere.)
“We think that marketing technology companies (ADBE and CRM in particular) would hold up best in a downturn given the predictable revenue streams and bookings made well in advance (as well as secular trends supporting marketing tech which has a very long runway, in our view),” the analyst said.
Amazon’s AWS business is also relatively immune to a downturn for the same reasons, but its e-commerce business likely is not,he said.
Finally, Wieser said the trade war with China shouldn’t have a major impact on most of the stocks mentioned, although Facebook’s advertising business does have some Chinese exposure. Amazon also has many marketplace users with exposure to China as well, he said.
Price Action
Here’s how the stocks mentioned were trading at the time of publication:
• Twitter was up 4.11 percent.
• Trade Desk was up 5.75 percent.
• Snap was up 3.11 percent.
• Salesforce was up 3.49 percent.
• Facebook was up 0.2 percent.
• Criteo was down 0.34 percent.
• Alphabet was down 0.37 percent.
• Adobe was up 2.04 percent.
• Amazon was 3.03 percent higher.
Related Links:
Trump Economic Advisor Says 'Heck Of A Lot Of US Companies' Have Trade War Earnings Risk
Wedbush: Trade War Could Mean Supply Chain Disruption, Higher Costs For Tech Sector In 2019
Latest Ratings for ADBE
[{"Jan 2019": "Dec 2018", "Pivotal Research": "DZ Bank", "Upgrades": "Upgrades", "Hold": "Hold", "Buy": "Buy"}, {"Jan 2019": "Dec 2018", "Pivotal Research": "BMO Capital", "Upgrades": "Maintains", "Hold": "Outperform", "Buy": "Outperform"}]
View More Analyst Ratings for ADBEView the Latest Analyst Ratings
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Price Driven More by Speculation Than Utility: BitPay CEO: BitPayCEO Stephen Pair has stated that speculation drives a substantial part of bitcoin’s current valuation, while the actual use of the crypto market leader as a currency is responsible for only a relatively small fraction of its price. Speaking on CNBC’sSquawk Box, Pair revealed that BitPay intends to change this situation significantly over the next few years.
In his words:
“A very big component of the price is certainly speculation. It’s investors speculating on the future usage and adoption of this technology. A small component of the price is actual utility, and that’s what BitPay is focused on — using the platform and delivering products to our customers that they find valuable.”
Speaking further, Pair stated that BitPay believes that mass adoption is a key driver of the futureprice of bitcoin, and it is focused entirely on building supporting infrastructure to make this possible. Responding to a question from the host about his opinion on the impact of the long-awaitedbitcoin ETFon the asset’s price, he said that he there are many catalysts for bitcoin to hit the highs of late 2017 apart from ETF adoption or launches.
In his view, BitPay’s current transaction volume of about $1 billion a year should ideally grow to $10 billion or $100 billion annually in a few years as more and more customers begin to expect cryptocurrency payment support across a wide range of everyday retail and transaction applications. When this happens, according to him, the bitcoin price will be driven to highs comparable to December last year.
Significantly, Pair revealed that in his opinion, blockchain adoption would expand far beyond the cryptocurrency space and become accepted as the default database style. Within a three to five year time frame, Pair said, everyday users will be able to go into a restaurant or retail establishment and reasonably expect support for a blockchain payment.
He also predicted that this would extend beyond bitcoin as more and more blockchain-hosted assets would become default means of storing and transferring value.
In his words:
“Our thesis at BitPay is that most digital assets will be issued on a blockchain and most payments will be issued on a blockchain. We are building a platform for that future. Remember this is not just about bitcoin or the various tokens that we see today. It’s also about issuing dollars or euros on a blockchain. So we’re not just talking about payments denominated in bitcoin terms when we speak about blockchain payments. We’re talking about all kinds of digital assets that could be used for that payment.”
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Driven More by Speculation Than Utility: BitPay CEOappeared first onCCN. || Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 14: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by theHitBTCexchange.
After the two years of price-centric action in the cryptocurrency industry, 2019 might shift the focus towards the fundamentals. Until the community puts an emphasis on the foundational aspects of crypto, we believe that a sustained recovery is unlikely.
The Winklevoss twins believe that stablecoins and tokenized securities will give aboostto the crypto space. Remaining positive on Bitcoin (BTC), they continue to hold the view that it is a better investment than gold.
While the Winklevoss’ view can be considered biased, as they have a vestedinterestin crypto prices going up, the arrival of established players into the asset class shows the promise it holds.
Vontobel bank, Switzerland’s third largest financial custody provider, haslauncheda digital custody product for institutional players. Large players like Vontobel don’t get into a space without studying it extensively. That leads us to believe that it is only a matter of time until institutional money starts trickling into the market.
However, not all banks share Vontobel’s point of view. The Bank for International Settlements (BIS) hascautionedinvestors that they could lose money on Bitcoin.
Amidst these contradictory opinions, what do the charts suggest? Let’s find out.
After struggling to stay above $3,598 on Jan. 11 and 12, Bitcoin (BTC) broke below the support line on Jan 13. There is no support between the current level and $3,236.09. Hence, we anticipate a gradual slide to the lows if the bulls fail to sustain above $3,598. A break down of Dec.15 low will resume the downtrend.
Below $3,236.09, the next support is the psychological level of $3,000. The failure of the bears to defend the low confirms that the sellers are in command. A new low will be a serious sentiment breaker.
On the other hand, if theBTC/USDpair reverses direction from either the current levels or $3,236.09 and breaks out of the downtrend line and $4,255, it will be an indication of strength. We are yet to see the formation of a higher high and a higher low, which would confirm a trend change.
Currently, we remain neutral on the pair. Depending on the price action in the next couple of days, we shall suggest a course of action. Until then, the traders can stay on the sidelines.
The bulls have been unable to push Ripple (XRP) above $0.33108 in the past three days. Currently, the bulls are attempting to scale the level again. If this latest recovery attempt fails, we expect the cryptocurrency to drop to $0.27795.
Both moving averages are flattening out, and the RSI is in the negative zone. This increases the possibility of a range formation between $0.27795 and $0.4.
TheXRP/USDpair is not signaling a trend reversal yet, so we suggest traders stay on the sidelines for a few more days.
Ethereum (ETH) is attempting to bounce off the critical support at $116.3. If the rebound fails to scale the 20-day EMA, the bears will once again attempt to break down of $116.3. If this support gives way, a retest of the lows at $83 is probable.
The 20-day EMA has started to turn down, which shows that bears hold the advantage in the short term. However, the 50-day SMA is flat, which points to a likely consolidation in the medium term.
If the bulls sustain above the 20-day EMA, theETH/USDpair might consolidate between $116.3 and $167.32 for a few days. We shall wait for a breakout above $167.32 before turning positive on the coin.
Bitcoin Cash (BCH) has been trading below the range for the past three days. The bulls have been unable to push the price back into the range, which indicates a lack of buyers at the current levels.
The next support on the downside is $100 and below that at $73.5. Both moving averages are gradually sloping down, and the RSI is in the negative zone. This shows that the sellers will pounce on any pullback to $147.
Our negative view will be invalidated if theBCH/USDpair sustains above the moving averages. Currently, we can’t find any buy setups, so we remain neutral on it.
EOSbroke below the support of the range on Jan. 13. The bulls are currently trying to push the price back into the $2.3093–$3.2081 range. If successful, the consolidation might continue for a few more days.
Both moving averages have turned down, and the RSI is also in the negative area. This means that the bears are in command.
If theEOS/USDpair drops below $2.1733, a fall to $1.7746, and further to $1.55, will be likely. Conversely, if the cryptocurrency bounces from the current levels and scales above the moving averages, it might extend its stay in the range. We shall turn positive on a breakout and close (UTC time frame) above $3.2081.
After the breakdown of the symmetrical triangle, Stellar (XLM) is attempting to stay above $0.1. If this support breaks, a retest of $0.09285498 is likely.
Both moving averages are trending down, and the RSI is in the negative zone, which shows that the bears have the upper hand.
Our bearish view will be negated if theXLM/USDpair reverses direction and rises above $0.13427050. The traders can wait for a trend reversal pattern to form before initiating any long positions.
The bulls could not defend the moving averages, which points to a lack of demand. Litecoin (LTC) is currently attempting to bounce off the critical support of $29.349.
The strength of the bounce will signal whether theLTC/USDpair will move up or tumble below the support. If the bears break below $27.701, a fall to the low of $23.090 will be possible. Hence, traders who hold long positions should keep a stop loss at $27.5.
If the bulls bounce strongly and sustain above the moving averages, it will indicate demand at lower levels. In such a case, a rally to $40.784, followed by a move to $47.346 is probable.
Tronbroke below the 20-day EMA on Jan. 13. Though the price quickly reclaimed the moving average, the bulls are facing selling at higher levels.
The 20-day EMA is flattening out, whereas the 50-day SMA is sloping up. This points to a consolidation in the near term but advantage to bulls in the medium term. The support on the downside is at the 50-day SMA, which is close to $0.0183.
TheTRX/USDpair might stay inside the range $0.0183–$0.02815521 for a few days, before breaking out of it. Our neutral-to-bullish view will be invalidated if the price plunges below $0.0183. Nevertheless, we couldn’t find any reliable buy setups at the current levels, so we are not proposing a trade yet.
Although the bears broke below the support of the range on Jan. 10, they could not push the price toward the next support of $65.031.
For the past three days, the bulls have been attempting to stay above $80.352, but are facing selling close to the moving averages.
If theBSV/USDpair breaks below $74.022, the next stop is $65.031. If this support also crumbles, a retest of $38.528 will be probable.
On the other hand, if the bulls scale the moving averages, the likelihood of a rally to $102.58, and beyond that to $123.98, increases. Currently, we can’t find any buy setups, so we are not suggesting any trades.
Cardano (ADA) did not move according to our expectations, which is why in ourpreviousanalysis we had suggested traders close their long positions without waiting for the stops to be hit.
TheADA/USDpair is currently trading inside of an ascending channel. The price has turned down from the resistance line of the channel on three occasions. The probability of a fall from the top of the channel to its bottom is high.
The bulls are attempting to bounce off the 50-day SMA. If the price sustains above the 20-day EMA, a rally to $0.051468 is probable. However, if the price turns down from the 20-day EMA and breaks below the 50-day SMA, it can decline to the strong support of $0.036815. A break of this support can result in a fall to $0.027237.
Currently, both moving averages are flat, and the RSI is close to the neutral territory, which points to a probable consolidation in the near term. We shall wait for a new buy setup to form before suggesting any new long positions in the pair.
The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 9
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• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Jan. 2
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 11 || Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Cryptos Climb As Catastrophic Voices Are Dismissed: The catastrophic mantras reappear while the sector prepares for new rises. ETH/USD continues to consolidate the 80% leap from the lows. Today may be a good day for the Ripple, eyeing a fundamental level between $0.45 and $0.50. The arrival of the new year brings Bitcoin ETFs back to the headlines. Yesterday, a positive outlook was announced from Japan regarding the possibility of approving one of these investment instruments. In the Land of the Rising Sun, Bitcoin is broadly accepted as a medium of payment and, the country of origin of its creator, Satoshi Nakamoto, so it would not be strange that it was there where the first ETF is approved. Also in this sense, the Winklevoss brothers, founders of the Gemini exchange, insisted on their intention to achieve a Bitcoin ETF approval as soon as possible. Yet in cryptos as in cryptos, we also return to the statements from outstanding members of the financial establishment crying out the evils of the cryptocurrencies and predicting an abrupt end of "this fairy tale." Yesterday it was Ardo Hansson’s, an economist trained at Harvard and the current governor of the Bank of Estonia. During 2018 Mr. Hansson was quoted as a candidate to succeed Mario Draghi at the helm of the ECB . ‘Bitcoin will die as a complete load of nonsense' says Ardo Hansson in an event in Lithuania. Hansson, 60, a member of the Governing Council of the European Central Bank, is the first senior member of the ECB to state his opinion on Cryptocurrencies openly. BTC/USD is currently trading at the $3.993 price level after a first unsuccessful attempt to breach the EMA50. For today we can expect a hesitant start that is likely to improve during the day and enter a new bullish phase in the last hour of the day. The 30-minute chart supports this scenario. Above the current price, the first objective is to exceed the 50-period exponential average at the $4,139 price level. The second bullish target is $4,409 (price congestion resistance). The third target on the upside is around $5,000 (price congestion resistance and SMA100). Story continues Below the current price, the first level where BTC/USD would find support is at $3,930 (price congestion support). The second support level is at $3,600 (price congestion support). If the BTC/USD drops this level, it could lose the entire current bullish momentum. Finally, the third support level is $3,250 (price congestion support). btc_usd_53-636825405049953732.png The MACD on the daily range recovers the bullish slope and is in the positive zone of the indicator for the first time since September. If there is a right time to move up, it is now. The DMI in the daily range shows us how bulls outperform bears and are positioned for further price hikes. The negative side is that the bears do not retreat and maintain the same level as in previous days. The ETH/USD pair is currently trading at the $150.25 price level. Today's trend will be slightly bullish, although the $155 level may be hard to beat. Towards the end of the session, it is likely that sellers will appear again. Above the current price, the first resistance level is $154.25 (price congestion resistance). The second resistance level is at $164 (SMA100). Above this second resistance level, there are resistances at $170 (price congestion resistance) and $180 (price congestion resistance), but the crucial one is at $190 (price congestion resistance and long-term bear channel ceiling). Below the current price, the first level of support is at $143 (price congestion support). The second support level is at $138 (EMA50). The third level of support is at $125 (price congestion support). eth_usd_40-636825405809357333.png The MACD in the daily range shows a pattern of exhaustion of the bullish movement from the lows. This process does not mean that massive sales are coming, but it can produce an orderly consolidation. The DMI in the daily range shows how the bears have increased their activity in the last three days. The bulls for their part have not faltered and remain at levels similar to those of last week. XRP/USD Daily Chart XRP/USD is currently trading at the $0.366 price level. Today's trend is expected to be bullish for at least part of the session. Intraday charts show very positive formations. Above the current price, the first resistance level is at $0.3654 (EMA50), a resistance level that Ripple has tried to overcome unsuccessfully over the past two weeks. Above this resistance, the XRP/USD pair can fly higher. The second resistance level is at $0.413 (price congestion resistance and SMA100). Above this level, there are two more resistance levels at $0.422 (SMA200) and $0.429 (price congestion resistance), but the key resistance level is at $0.45 (trend line and ceiling of the long-term bear channel). Below the current price, the first support level is $0.345 (price congestion support). The second support level is at $0.321 (price congestion support). The third support level is $0.30 (price congestion support). xrp_usd_42-636825406476133189.png The MACD in the daily range does not accompany the normal short-term development but remains in positive territory so it can react at any time. The DMI in the daily range shows us the bulls maintaining the advantage over the bears. The bullish ones stay a little above the 20 levels so they can quickly react to the upside. See more from Benzinga Bitcoin Forecast 2019: A Critical Year For Cryptos Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Whales Come Out Of The Depths Top 3 Price Prediction Bitcoin, Ripple, Ethereum: The Buzzword Is "The Bottom" © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Immuno-Oncology Suffered a Setback in 2018. What’s Next?: PD-1 checkpoint inhibitors are among the most successful and widely used cancer drugs in the world, but they're not perfect medicines. Many people fail to respond to them or relapse after taking them, so studies have begun that team next-generation drugs with them to try to improve results. Unfortunately, optimism for combination approaches was dealt a big blow in 2018 when Incyte 's (NASDAQ: INCY) trial of its IDO inhibitor alongside PD-1s failed. In this clip from The Motley Fool's Industry Focus: Healthcare , analyst Shannon Jones and Todd Campbell review the performance of PD-1s in 2018 and offer up thoughts on their future. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on Dec. 12, 2018. Shannon Jones: We're going to talk about the leaders of the immuno-oncology front, specifically leaders who are producing a kind of drug called checkpoint inhibitors. These PD-1s continue to dominate, but as you describe it, Todd, there have been cracks in the armor. The next key is combination therapies. How do you get them working together? Todd Campbell: Right. Immuno-oncology has been the big story of this decade. The launch of PD-1 drugs, Bristol Myers ' Opdivo, Merck 's Keytruda, they've revolutionized how we attack certain cancers like melanoma and lung cancer. But, now that they're being so widely used, we are starting to see that people do relapse after receiving these therapies, some people don't respond to them, maybe there are more side effects than we initially thought to their use. So, you've got a bunch of different companies who've gone out and said, "How can we improve upon these PD-1 drugs?" So, they're running combination trial therapies, where they're taking their drugs in development and using them alongside Opdivo and Keytruda and some of these others in that same class of drugs. Story continues The hope had been that that would be a slam dunk. You take these drugs, they have mechanism of action X, you match them up with the anti-PD-1s that have mechanism of action Y, and sure enough, it all works perfectly. More people ended up responding for longer periods. Unfortunately, some of that enthusiasm got tempered earlier this year. That was because Incyte had been doing a combination study matching up its IDO inhibitor with a PD-1 inhibitor, and unfortunately, when the trial results came in, that combo failed to outperform PD-1 use alone. That really threw a big monkey wrench in the concept of, will combination therapies actually improve upon the therapy or not? Jones: Todd, I would dare say that that Phase III trial failure with Incyte's drug was probably the biggest pipeline failure, just because there was so much hype leading into that Phase III readout. Everyone said, "OK, these checkpoint inhibitors, we know that they work in some patients, and for those that do, you see some impressive results. But if we can start to combine with an IDO inhibitor... " There are other combinations that have been tested and haven't really proven them out. But, there was so much hype leading into this Phase III study. I think this was probably the biggest heartbreak for many of us that love this space. Yeah, a lot of chip in the armor when it comes to PD-1s. Definitely something to keep an eye on. Some of the hype related to these combination therapies has been tempered moving into 2018, and it'll probably continue to be so for 2019, as well. Campbell: I mean, there are 1,500 clinical trials still ongoing for combination therapies with PD-1s. 1,500. Which is crazy. It's up from 216 in 2016. PD-1s are going to remain the mainstay. If you look at Opdivo and Keytruda, the two top-selling ones, if you combine their sales together, they did almost $4 billion in sales last quarter. If you look at estimates, PD-1s could be $30 billion drugs by 2025. I think PD-1s will remain a mainstay, but for investors heading into 2019, reign in a little bit of your optimism for any trial readouts that are combination-oriented. Shannon Jones has no position in any of the stocks mentioned. Todd Campbell has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Bitcoin’s Institutionalization: Dates to Watch in 2019: It’s been over a year since the Cboe and CME listed the world’s first bitcoin futures contracts, the first ever bitcoin investment product to hit the legacy market. Both futures went live just before bitcoin peaked at its $20,000 all-time high. Out-the-gate trading for the derivatives reflected 2017’s market mania, and Cboe’s futures alonetraded over 800 contracts(roughly $12,000,000 at the time) within the first two hours of their launch.
With the creation of these markets, the euphoric anticipation of bitcoin’s debut on Wall Street conjured up delusions of grandeur. The seemingly unstoppable asset, which had transcended all-time high after all-time high with ease all throughout the 2017 holiday season, was on the cusp of receiving its largest flush of capital yet.
Cue 2018 and the bear.
Now, bitcoin is down about 80 percent from its all-time high. Its introduction into mainstream institutional markets obviously did not send us to a new paradigm, and some in the community even believe that the futures invited the opposite effect — that theywere the cause of the crash.
2018 was not the year of institutionalization that some bitcoin investors hoped that it would be. Instead, it’s been a Sisyphean struggle to give Wall Street an easier in, perhaps best exemplified by the industry’s repeated trial and failure to get an ETF approved by the United States Securities and Exchange Commission (SEC).
Still, there are a handful of outstanding deadlines and tentative launch dates that could make 2019 the actual year that bitcoin makes headway in the institutional investment scene. The products related to these deadlines include two futures offerings and VanEck’s long-anticipatedbitcoin ETF.
For these products, here are some dates to look out for and a brief explanation of how they work.
The Intercontinental Exchange (ICE), the New York Stock Exchange’s parent company, firstannouncedBakkt in August of this year. Described “asa scalable on-ramp for institutional, merchant and consumer participationin digital assets” by its CEO Kelly Loefller, the platform was pitched as a crypto payment solution with an added bonus: physically delivered futures contracts.
Unlike current futures products offered by the Cboe and CME, which are not physically delivered and settled in cash, Bakkt’s contracts would be settled in kind with bitcoin. Originally anticipated to launch in November of 2018,the platform has been delayeduntil the tentative date of January 24, 2019.
Bakkt’s team delayed the launch to hammer out customer customer onboarding and work with regulators on approval. It should be noted that, as of this writing, Bakkt has not received regulatory approval from the United States Commodities and Futures Trade Commission (CFTC) to list the futures.
Fewer institutional grade investment products have bathed in the industry limelight quite like theVanEck and SolidX bitcoin exchange traded fund (ETF).
The latest in a slew of attempts by various actors to offer the world’s first bitcoin ETF, the VanEck SolidX Bitcoin Trust is the only bitcoin ETF introduced in 2018 whose filing hasn’t been decided on by the SEC. Unlike most of its 2018 predecessors, the ETF would source its prices from the bitcoin spot market — not the Cboe and CME futures markets.
TheSEC has delayed its decisionon the VanEck SolidX ETF twice, but come February 27, 2018, it will have to make a decision, though in reality one could come sooner than this.
In addition to this ETF, the SEC will also have to make its final decision onnine other ETFswhich, after being rejected at the staffing level, were appealed for review by the commission. At the time of publication, no dates have been disclosed for when this decision might take place.
Nasdaq teased the prospect of launchingits own bitcoin futuresthroughout 2018, and, as we head into 2019, the exchange is looking to make good on its promises.
But these promises are still a bit nebulous. The exchange hasn’t released many details regarding how the futures will operate, nor has it given much information on the launch date. We do know that their tentative launch date is expected to fall in Q1 of 2019, and Nasdaq has partnered with VanEck to source prices withVanEck’s MVIS Bitcoin Index.
Like Bakkt’s own futures, Nasdaq has yet to receive the greenlight from the CFTC to list the futures.
Photo byScott WebbonUnsplash
This article originally appeared onBitcoin Magazine. || Confirmed: Nasdaq’s Bitcoin Futures Will Launch in 'First Half' of 2019: The world’s second-largest stock exchange, Nasdaq , has confirmed it plans to launch Bitcoin futures in the first half of 2019, United Kingdom daily tabloid The Express reported Monday, Dec. 3. As reported , two insider sources had already leaked the plans to Bloomberg in late November. Yesterday’s confirmation from Joseph Christinat, vice president of Nasdaq’s media team, clarified the launch remains subject to approval from the United States Commodity Futures Trading Commission ( CFTC ), although reportedly “there’s been enough work put into this to make [the question of regulatory approval] academic [...] we’re doing this, and it’s happening.” Christinat told The Express that the stock market giant has been eyeing the crypto space “for years” and has been working on its Bitcoin ( BTC ) futures product for “most” of 2018. He added: “We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time — way before the market went into turmoil, and that will not affect the timing of this in any way. No. Period. We’re doing this no matter what.” Chrisinat’s interview did not confirm whether Nasdaq’s Bitcoin futures contract will be cash-backed, or physically settled (i.e., with returns paid out in BTC rather than fiat currency). While cash-settled Bitcoin futures contracts came to market on CBOE and CME Group as early as December 2017, the first physically delivered Bitcoin futures are targeted for launch in January 2019 on Bakkt , the digital assets platform created by the operator of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE). In November 2017, Nasdaq had first indicated it would be launching BTC futures by mid-2018, but soon said it would be deferring rollout in order to create a “unique enough” offering. As reported , Nasdaq’s planned futures contract will purportedly be the first of a set of “transparent, regulated and surveilled” digital assets products to be jointly launched as part of its recently announced partnership with U.S. investment firm VanEck. Story continues VanEck is also currently awaiting a final decision from the U.S. Securities and Exchange Commission ( SEC ) on its joint proposal for a physically backed Bitcoin exchange-traded fund (ETF) together with blockchain software and financial services firm SolidX. Related Articles: Nasdaq Partners with VanEck to Release ‘Regulated, Surveilled’ Digital Assets Products How Traditional Financial Instruments Are Breaking Out in the World of Crypto Hodler’s Digest, Nov. 26—Dec. 2: Satoshi Makes a New Friend, Buterin Gets Negative Over Centralized Blockchains Nasdaq’s Bitcoin Futures Could Launch in Q1 2019, Says Bloomberg || How Did Twitter CEOs Square Overtake Coinbase as #1 Bitcoin Buying App?: Jack Dorsey Bitcoin Square Square, a payment platform for merchants and individual users operated by Twitter CEO Jack Dorsey, has surpassed Coinbase to become the most widely used iOS app to buy Bitcoin (BTC) . The platform, called Cash App on Apples iOS store, also overtook YouTube to become the number one top free mobile application on the iOS store, demonstrating a rising demand for digitalized payment systems in the U.S. market. The easiest way for every single person in America to buy bitcoin is #1 on iOS today @CashApp pic.twitter.com/nYUt6tSkIJ Miles Suter (@WahWhoWah) December 8, 2018 But how was Square able to overtake Coinbase and provide users the easiest way to purchase the dominant cryptocurrency? All About Accessibility On Square, which initially gained traction as a tool for merchants, individual users can instantly send and receive money using mobile phones without the need to go through inefficient bank wire transfers and traditional payment platforms. Similar apps in South Korea and China like KakaoPay and AliPay have also become increasingly popular as alternatives to banks as the preferred payment systems of both businesses and individuals. Prior to its integration of Bitcoin, Square was already being utilized as an online payments platform that is popular among millennials and new generation users that refrain from utilizing banking systems. Squares Bitcoin integration almost instantly appealed to its existing user and client base, as a large portion of the global population that is interested in cryptocurrencies has consistently been millennials throughout the past several years. Story continues With the app, users can purchase Bitcoin efficiently because their bank accounts and credit cards are already connected to the application. But, if a user is to trade on a regulated exchange like Coinbase or Gemini , the user would have to go to a bank and initiate a wire transfer to deposit a payment to the exchange, which then involves an inefficient process and risks of potential payment delays and technical issues. Cryptocurrency exchanges also request new users to go through a rigorous and impractical Know Your Customer (KYC) verification period, demanding government-issued IDs such as a passport or a driving licenses, and in some cases, evidence of income or bank statement to increase the limit of the account. It is easier for users to remain with an application they use on a regular basis on which they already have completed a KYC process like Square that do not require additional information. Not Focusing on Profits In August, speaking to CNBC, Square CFO Sarah Friar stated that the company does not consider its Bitcoin trading service as a major monetization engine and does not intend to generate large profits out of it. At least in the short-term, Friar said that the strategy of the company is to drive utility in the Cash App and increase the liquidity of the asset. She said: Its not a major monetization engine. The goal is to continue to drive utility in the Cash App. Jack Dorsey , the CEO of Square, previously emphasized that Bitcoin means more to the company than simply a new area for revenue generation. Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for our industry, and we want to learn as quickly as possible. Featured image from Shutterstock. The post How Did Twitter CEOs Square Overtake Coinbase as #1 Bitcoin Buying App? appeared first on CCN . || Decentralized Crypto Networks ‘Must be Susceptible to 51% Attacks’: Litecoin Creator Charlie Lee: charlie lee litecoin 51% attack Ethereum Classic (ETC), the smaller spinoff of Ethereum, is still reeling from the 51% attack that was carried out on its blockchain, resulting in the theft of more than $1 million in ETC tokens and an almost 10% erosion of the cryptocurrency’s value. Reactions to this attack have been pouring in from various quarters, including the temporary ban placed on various activities involving ETC by major cryptocurrency exchange platforms such as Coinbase and Kraken. Industry experts and institutions have also weighed in on the matter, how this incident could affect the public perception and adoption of blockchains, and how incidents like this can be prevented in the future. Failed Blockchain? In an email conversation with Bloomberg, venture capitalist Kyle Samani claimed that the success of the attack on the blockchain demonstrates that the Ethereum Classic blockchain has essentially failed at one of its most basic responsibilities as a decentralized cryptocurrency network. Samani wrote : I’m surprised that ETC is not down 50 percent or more. The most probable explanation is that the biggest holders store their assets off-exchange, leaving them unable to transfer them back and sell. However, Charlie Lee — the founder and developer of Litecoin — seems to believe that with this attack, the Ethereum Classic blockchain is only exhibiting one of the inherent characteristics of a blockchain. In a tweet earlier this week, Lee stated that every decentralized cryptocurrency is susceptible to attacks of this nature, and any blockchain that demonstrates an immunity to this kind of attack is essentially centralized and permissionised. This is a thought-provoking observation. By definition, a decentralized cryptocurrency must be susceptible to 51% attacks whether by hashrate, stake, and/or other permissionlessly-acquirable resources. If a crypto can't be 51% attacked, it is permissioned and centralized. https://t.co/LRCVj5F0O1 — Charlie Lee [LTC ] (@SatoshiLite) January 8, 2019 “By definition, a decentralized cryptocurrency must be susceptible to 51% attacks whether by hash rate, stake, and/or other permissionlessly-acquirable resources,” the Litecoin creator wrote. Story continues Every PoW Crypto is [Technically] Susceptible to 51% Attack Lee’s sentiment was shared by Donald McIntyre, a member of the ETCDEV development team, which was shut down in December 2018 over lack of funding in the wake of the downturn in the crypto market. In a blog post published on Medium on January 8, McIntyre wrote: Bear in mind that the current attacks ETC suffered are not a function of flawed internal design or a ‘hack’ to the system. It was a double-spend mining attack and a breach of security which is a formal assumption in its design, which is vulnerable to 51% attacks, as in any other proof of work blockchain, including Bitcoin. In the post, McIntyre further claimed that the blockchain could be protected from attacks like this in the future through a change in the mining algorithm. At press time, ETC is ranked the 18th largest cryptocurrency by market capitalization and is trading at $5.04. Charlie Lee Image from Slush 2018/ YouTube The post Decentralized Crypto Networks ‘Must be Susceptible to 51% Attacks’: Litecoin Creator Charlie Lee appeared first on CCN . View comments
[Random Sample of Social Media Buzz (last 60 days)]
Anyone know what value for BTC/USD @tradingview #TradingView uses when calculating the "calculated by TradingView" pairs? For exemple, if I do WAVES/BTC*BTC/USDT on Binance, it doesn't get me the same value as the WAVES/USD (calculated by TV) pair. || Aldın mı sen aldıysan girmeyelim || $LTC on #Binance update:
Breakout above 0.009050 BTC
First target 0.010027 BTC pic.twitter.com/aLZYmMZOW5 || Economic Teachings of Bitcoin – Gigi – Medium https://medium.com/@dergigi/economic-teachings-of-bitcoin-b2cc4f2cfa96 … || Bitcoin and Market-Related Headlines Dominated Crypto News Coverage in 2018 https://www.pivot.one/share/post/5c42400a595ce751e446b7ea?uid=5bb50eef5be18e5b27e36607&invite_code=MYIYQQ …pic.twitter.com/iLRHsvvb9F || 09:35:24 #Piyasa #Kur #Finans
#Dolar #Euro #Bitcoin #Doviz #ALTINpic.twitter.com/m3RgRRFFN1 || Morning trade
GBPUSD hit target
At 1.29380
Total profit $2,445
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#FX #トラリピ #取引所 #NYダウ #トルコリラpic.twitter.com/gTLULX2l2X || Short: #BTC #ETH #XMR. Long: #GRIN #XVG(/rekt) and aiming for a position in #BEAM right after the BTC #Capitulation. Further more looking for new opportunities. || Robinhood Crytpo Wins License to Sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin in New York https://www.pivot.one/share/post/5c4a2e8d1d57e76b573925fc?uid=5c40f7e6016de71641d14586&invite_code=TKWERV …
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Trend: down || Prices: 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-09-07]
BTC Price: 614.54, BTC RSI: 64.92
Gold Price: 1344.30, Gold RSI: 56.23
Oil Price: 45.50, Oil RSI: 50.64
[Random Sample of News (last 60 days)]
U.S. tech company files bitcoin ETF application with SEC: (Adds byline, details on insurance, custodian bank, background on bitcoin, SolidX)
By Gertrude Chavez-Dreyfuss and Nikhil Subba
NEW YORK, July 12 (Reuters) - SolidX Partners Inc, a U.S. technology company that provides blockchain services, on Tuesday filed an application with the Securities and Exchange Commission to launch an exchange-traded product that tracks the price of bitcoin.
Blockchain is the technology that powers bitcoin, the digital currency. SolidX provides blockchain-based software relating to the recording of digital records, transfer of assets, and identity, according to its website.
The ETF product will be called SolidX Bitcoin Trust and will list on the New York Stock Exchange under the ticker symbol XBTC upon regulatory approval, SolidX Partners said on Tuesday.
SolidX is the second company to file for a bitcoin exchange-traded product with the U.S. regulator. The Winklevoss Bitcoin Trust, owned by brothers Cameron and Tyler Winklevoss, filed the first bitcoin ETF application three years ago.
In its SEC filing, SolidX said it will provide investors with exposure to the daily change of the U.S. dollar price of bitcoin. The value of bitcoin will be based on the price tracked by XBX, an index created by TradeBlock, a financial services company.
Bitcoin is a digital asset launched in 2009 that can be transferred among parties through the internet without the use of a central administrator or clearing agency. Its blockchain has gained global popularity due to its perceived usefulness in recording and keeping track of assets across practically all industries.
The exact size of the offering was not disclosed, but based on the filing, the company said the ETF will issue a basket of 10,000 shares.
Bank of New York Mellon has been tapped as the custodian of the cash held by SolidX Bitcoin Trust, while SolidX Partners will be responsible for the ETF's bitcoin holdings.
SolidX, in its ETF filing, said the bitcoin it will hold will be insured. The insurance will cover the loss of bitcoin through theft, destruction, or computer fraud.
Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange.
It has since recovered, hitting a more than two-year high of nearly $780 in the run-up to the British referendum on whether the country should leave the European Union. On Tuesday, bitcoin traded at $662.44 on the Bitstamp platform.
(Reporting by Gertrude Chavez-Dreyfuss in New York and Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila and Chris Reese) || Cyber threat grows for bitcoin exchanges: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft -- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014 -- is hardly a rare occurrence in the emerging world of crypto-currencies. New data disclosed to Reuters shows a third of bitcoin trading platforms have been hacked, and nearly half have closed in the half dozen years since they burst on the scene. This rising risk for bitcoin holders is compounded by the fact there is no depositor's insurance to absorb the loss, even though many exchanges act like virtual banks. Not only does that approach cast the cyber security risk in stark relief, but it also exposes the fact that bitcoin investors have little choice but to do business with under-capitalized exchanges that may not have the capital buffer to absorb these losses the way a traditional and regulated bank or exchange would. "There is a general sense in the bitcoin community that any centralized repository is at risk," said a U.S.-based professional trader who lost about $1,000 in bitcoins when Bitfinex was hacked. He declined to be named for this article. "So when investing, you always have that expectation at the back of your head. I lost a small amount compared to the others, but I know of traders who lost millions of dollars worth of bitcoins," the trader said. The security challenge for the bitcoin world does not appear to be letting up, according to experts in the currency. "I am skeptical there's going to be any technological silver bullet that's going to solve security breach problems. No technology, crypto-currency, or financial mechanism can be made safe from hacks," said Tyler Moore, assistant professor of cyber security at the University of Tulsa's Tandy School of Computer Science who will soon publish the new research on the vulnerability of bitcoin exchanges. His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world. In contrast, data from the Privacy Rights Clearinghouse, a non-profit organization, showed that of the 6,000 operational U.S. banks, only 67 banks experienced a publicly-disclosed data breach between 2009 and 2015. That's roughly 1 percent of U.S. banks. Among the world's stock exchanges, however, security breaches are much higher, with hackers attracted to the large pools of cash moving in and out of these trading venues. The latest survey of 46 securities exchanges released three years ago by the International Organization of Securities Commissions and World Federation of Exchanges found that more than half had experienced a cyber attack. Moore collaborated on the research with Nicolas Christin, associate research professor at Carnegie Mellon University and Janos Szurdi, a Ph.D. student also at Carnegie. In 2013, Moore and Christin wrote a research paper on security risks surrounding bitcoin exchanges when Moore was still a professor at Southern Methodist University. That research entitled Beware of the Middleman: Empirical Analysis of Bitcoin Exchange Risk was peer-reviewed and presented at the 17th International Financial Cryptography and Data Security Conference in Okinawa, Japan in 2013. In the most recent study, the rate of closure for bitcoin exchanges in Moore's research edged up to 48 percent among those operating from 2009 to March 2015. Hacking did not necessarily trigger the closure in each case. "A 48 percent closure is not acceptable, but not surprising given that bitcoin is a new technology," said Richard Johnson, vice president of market structure and technology at Greenwich Associates. Johnson has written reports on risk and security issues in the crypto-currency world. Profitability is a big problem for bitcoin exchanges, with many of them unable to generate enough volume to keep afloat. Bitcoin exchanges overall could be launched for as low as $100,000 up to $1 million, said Erik Voorhees, founder and chief executive officer of digital currency exchange ShapeShift. That is a fraction of what U.S. forex exchanges' are required to put up. Retail FX trading platform FXCM, for instance, is required by the Commodity Futures Trading Commission to have at least $25 million in capital at all times. RECOVERING LOSSES A key factor tied to the risk posed by exchanges is whether customers are reimbursed after closure or after the loss of bitcoins following a hack. Each closure and breach have been handled differently, but Tandy's Moore said the risk of losing funds stored in exchanges are real. In the case of Bitfinex, which is now up and running after the hack August 2, customers lost 36 percent of the assets they had on the platform and were compensated for the losses with tokens of credit that would be converted into equity in the parent company. At Tokyo's MtGox, customers have yet to recover their investments more than two years after closure. Experts say trading venues acting like banks such as Bitfinex will remain vulnerable. These exchanges act as custodial wallets in which they control users' digital currencies like banks control customer deposits. "The big exchanges that hold customer deposits are a big target for hackers," said ShapeShift's Voorhees, "and unfortunately most bitcoin exchanges store user funds." When customers' checking accounts are hacked, there is always a third party at the bank that can step in to deal with the theft. Not so with bitcoin, said Seattle-based Darin Stanchfield, chief executive officer at KeepKey, a hardware wallet provider. He expects more of these attacks to happen despite efforts to improve security at bitcoin exchanges. "Unfortunately because of its irreversible nature, bitcoin requires near perfect security." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Edward Tobin) || Aug. 24, 2015 Flash Crash Part Of Wall St. History: August 24, 2015: It's a date that has earned its place in “notable days on Wall Street.” Nearly a year ago today, the S&P 500 dropped as much as 5.3%, capping off a weeklong rout that roiled markets around the world.
While not as devastating as something like Black Monday in 1987―when U.S. stocks dropped 20% in a single session―or when markets reopened after 9/11 on Sept. 17, 2001―the events last Aug. 24were enough to etch that date into the history books.
Fueled by China-related economic fears, the drop in the stock market that day ended a period in which the market was uncharacteristically tranquil. Up until that point, the S&P 500 hadn't seen a correction (unofficially considered a sell-off of 10% or more) in about four years. That was the third-longest such streak in history.
Panic Attack
The drop on Aug. 24 quickly put an end to that, while pushing investors from a state of complacency to panic in one fell swoop.
Chart courtesy ofStockCharts.com
In the ETF world, the panic was especially palpable. Dozens of exchange-traded funds briefly tradedwell below the valueof their underlying assets that day, fueling criticism that regulators and the industry weren't doing enough to protect investors.
Today, nearly a year after the Aug. 24 plunge, investors can now take a step back and look at the bigger picture. What, if anything, has changed since that tumultuous day―both on a macro level and in terms of the ETF industry?
China Still A Wild Card
The correction of August 2015 was the first of two major stock market sell-offs that were spurred on by events in China (the other was this past January:Investors Flood Safe Haven ETFs).
At the time, the prevailing narrative was that China's economy was in a free fall, and that a 1997-style Asian financial crisis was imminent. A year later, it's clear that those fears were unfounded. There has yet to be any financial or economic shock in China, and the country is seldom mentioned in the top financial headlines today.
But while a crisis has yet to hit, there are many open questions regarding the state of China's economy. The Chinese government took a number of measures―including banning short-selling in the country's stock market, halting the trading of more than 1,000 stocks and cutting interest rates six times in a year―to stabilize the situation.
Doubtable Data
Yet even with those measures, China's economy continues to slow, and perhaps more dramatically than the official figures indicate. Many analysts question the veracity of the economic data that comes out of the country, which is troubling for investors.
Hedge fund managers Kyle Bass, Paul Singer and others believe that it's only a matter of time before China faces a severe downturn that will be worse than the U.S. financial crisis. Others envision a rosier "soft landing" scenario for the world's second-largest economy.
In any case, the outlook for China is no clearer today than it was a year ago, despite the recovery in global stock markets.
ETFs Had A Bad DayMeanwhile, the other big story from Aug. 24, 2015—the "mini flash crash" in ETFs—didn't do much, if anything, to derail the exchange-traded fund industry. U.S.-listed ETF assets are at record highs—above $2.4 trillion—and the investment vehicle continuesto flourish at the expense of mutual funds.
Nevertheless, there is a bit of trepidation that another flash crash could hit ETFs again down the line. On Aug. 24, 2015, many ETFs―including those with billions of dollars in assets such as theGuggenheim S&P 500 Equal Weight ETF (RSP)and theiShares Select Dividend ETF (DVY)―fell significantly below their net asset values during the first hour of trading.
Dave Nadig, director of ETFs for FactSet, wrote shortly after the event that a combination of "market makers stepping away" and high-frequency trading may havecontributed to the unusual price actionthat day.
Has anything been done to prevent this situation from unfolding again in the future?
According to Nadig, change may be coming, but probably not from regulators.
Regulatory Gridlock Persists
"In terms of actual regulatory change, not much has changed since August 24th last year," he told ETF.com. "Senate recalcitrance means the SEC is operating two commissioners down (5 of 7) and the CFTC is effectively stalled from doing any meaningful work (down to 3 of 5)," he said.
Instead, it looks like change may be coming from exchanges, according to Nadig: "Several folks signed a letter to the SEC (myself included) asking for some common sense reforms on how markets open, halt and re-open, and the exchanges have taken it a step further."
"Material improvements to the opening process after halts have already been implemented," said Bryan Harkins, EVP and head of U.S. Markets for Bats Global Markets, the largest exchange for ETF trading by market volume, and owner of ETF.com.
"In addition, exchanges have individually, and collectively, made a number of changes around the start of the day—including revising the limit up limit down (LULD) reference price—to ensure a smoother open. As a result, we’ve seen a marked reduction in the number of LULD pauses,” he added.
While it's impossible to rule out another flash crash and extreme price volatility, Harkins says the U.S. market structure is "materially stronger" as a result of the changes made in the past year.
(For more, read:Exchanges Propose New Unified Trading Rules)
Contact Sumit Roy [email protected].
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Permalink| © Copyright 2016ETF.com.All rights reserved || If you follow Warren Buffett's methodology, stocks are significantly overvalued: When I turned bearish in January 2016 I missed three critical elements that caused the S&P 500 to grind toward record highs. First, a sufficient number of other investors did not share my skepticism about the global economy. Second, I misjudged investor faith in central bankers. Third, I underestimated the continued global appetite for yield bearing stocks. However, in recent days a host of big money investors have been vocally bearish. Does this mean the herd is turning and that I may have just been early? Perhaps, but what are these investors seeing that has led them to embrace my skepticism? Risk versus reward.
Big money understands that investing is more about balancing risk and reward than about being "right." Investing is a game of probability, and since nobody has a crystal ball, the best we can all do is make educated guesses and place bets when the odds are in our favor. The odds may no longer be in equity investor's favor.
Warren Buffett is one of the biggest investors in the world and his preferred method for valuing the stock market is now suggesting that U.S. stocks are significantly overvalued. Buffett has stated that using Total Market Capitalization to GDP is "probably the best single measure of where valuations stand at any given moment." For those who want to dig deeper into this valuation metric the websiteGurufocus.comis a great resource.
Currently, the ratio of Total Market Cap (as measured by the Wilshire Total Market Index(NYSE Arca: .W5000FLT)) to GDP is 121 percent. There is only one other time since 1971 that this ratio has registered such an overvalued reading…that was in December of 2000. Moreover, GuruFocus has tracked market returns using this indicator and at current levels it suggests the total expected yearly return for U.S. stocks is 0.1 percent, including dividends. The current dividend yield is roughly 2.04 percent, which means this indicator is forecasting that stocks will fall by 2 percent over the next year.
Think about that for a minute. The preferred valuation metric of the world's most successful and wealthiest investor is suggesting that there is little to no upside for stocks. When big money tries to calculate the risk of investing against the reward, a negative return will simply not compute. To my mind, this could be the reason that the likes of high-profile investors Jeff Gundlach and Bill Gross have suggested either selling everything or buying gold.
In addition to the lack of reward, faith in the ability of central bankers to manufacture an economic recovery is being challenged. Over the last few trading sessions the yield on Japanese government bonds have jumped the most since 2013. In the aftermath of the 2013 Japanese yield spike the Japanese stock market fell more than 7 percent
Will history repeat?
Japanhas been the laboratory for experimental monetary policy for the better part of 20 years. Recently the head of theBank of Japancalled for a review of current policy to be released in September. The market reaction to this anticipated review has been decidedly negative. The implication is that investors fear the Bank of Japan will admit defeat and no longer engage in market manipulation. I personally have my doubts that it will abandon its policies, but the crisis of faith is catalyst enough for investors to sell. Yet another reason big money is turning bearish.
Finally, the search for yield is showing signs of coming to an end. Since the February 2016 market lows, the iShares Select Dividend ETF(NYSE Arca: DVY)(DVY) is up 17.5 percent, but interestingly the lower yielding Spyders ETF(NYSE Arca: SPY)(SPY) is up 18.23 percent. To be sure the outperformance of the lower yielding SPY is a recent phenomenon, but cracks in the foundation are appearing.
Big money is turning bearish because the reward does not justify the risk. The market cap of U.S. stocks has far exceeded the value of GDP, typically a sign of negative stock market returns. The recent spike in Japanese yields has shaken investor faith in omnipotent central bankers, while the horn is blowing "Going Home" on the hunt for yield.
For a few weeks in February my bearish view was accurate, but the fullness of time has proved I miscalculated the skepticism of others, the faith in central bankers and when the hunt for yield would end. Perhaps the recent growls from prominent investors is a signal that the herd is turning, but the truth is only time can tell. What is clear to me is that the risk of owning stocks is simply not justified by the reward. I continue to remain defensive on U.S. equities and share the bullish view on gold.
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World."Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter@BKBrianKelly.
For more insight from CNBC contributors, follow@CNBCopiniononTwitter. || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about $72 million (£54 million) was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange. Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair. Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses. "The bitcoin was stolen from users' segregated wallets," he said. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins. Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. "Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet. "With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare. The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies. BITCOIN SLUMP Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack. Story continues Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 (BTC=BTSP) on the BitStamp platform. Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority. A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers. "The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis. The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation. It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company. Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities. The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal. The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small. "For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese. (Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || High Prices and Expensive Gifts Offered by PowerBTC to Bitcoin Sellers: NEW YORK, NY--(Marketwired - Aug 8, 2016) - With the rise in popularity of Bitcoin commerce, many online firms are finding creative new ways to take advantage of this valuable virtual resource. However, none are more market-savvy than PowerBTC, an up-and-coming financial world star that is taking e-commerce by storm.
PowerBTC LLC (http://www.PowerBTC.com), an already well known cryptocurrency trader on the virtual market, has its on-going offer of higher-than-the-market-price premiums on Bitcoin purchase. Their offer is time-limited but comes along with a bunch of benefits for 10+ or larger transactions. While their standard approach of Bitcoin sellers remains a bonus of 10% more than the market's official rate, the company has added few more additional premiums and gifts for volume business.
While having listed all of them below, customers can be assisted and given additional information at any time.
POWERBTC CURRENT PROMOTIONAL OFFERS:
10+ BTC (24-karat gold coin);20+ BTC (24-karat gold coin +3 %);30+ BTC (24-karat gold coin +5 %);50+ BTC (24-karat gold coin +8 %)
24-karat gold coin worth of 450 USD based on the gold market price.
Tom Clark, the CEO of PowerBTC, commented: "We are happy that with this promotional offer we will be able to help the Bitcoin community. By riding on this next wave of digital technology, we hope to become a major leader of the Bitcoin community, and offer exceptional deals for all Bitcoin purchases. It's about staying in-step with the times, and we know that Bitcoin is a wise investment and are confident that it can take us to the top."
A visit tohttp://www.PowerBTC.comreveals a cleanly-designed website that is easy to use, making Bitcoin transactions quick and easy. Users only need to enter their email address, and bank or PayPal information and they will be ready to take advantage of this new promotional offer.
While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business.
Rates are updated constantly, following current market trends, for the most accurate information. Combined with knowledgeable staff and a regularly updated news page, this gives PowerBTC the edge over competitors in the field by offering a depth of market knowledge that is unrivaled.
PowerBTC is currently purchasing Bitcoins so any interested sellers should visit their website as soon as possible for the best deals. For more information, visit,http://www.PowerBTC.com. || Your first trade for Friday, July 22: The " Fast Money " traders shared their first moves for the market open. Tim Seymour stuck with Starbucks ( SBUX ) , which had reported quarterly numbers after Thursday's close. Karen Finerman was a seller of United Rentals ( URI ) . Brian Kelly was a buyer of the iShares 20+ Year Treasury Bond ETF ( TLT ) . Guy Adami was a buyer of Newmont Mining ( NEM ) . Trader disclosure: On July 21, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, XME, US Dollar UUP; he is short CHF=, EUR=, JPY=. Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM. Karen Finerman is long AAL, BAC, C, DAL, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin Buying Service Launches With Market-Beating Rates: NEW YORK, NY / ACCESSWIRE / August 4, 2016 / Selling bitcoins has just been made more profitable with the launch of a new website from www.PowerBTC.com . The recently revamped service offers to buy the crypto currency with one very simple advantage - a guarantee that they will pay a significantly higher price than the exchange rate of the day. https://youtu.be/h-cffzcrEI8 The platform charges no transaction fees, making the market-beating offer even more attractive to those with bitcoin assets to trade. PowerBTC.com can guarantee this higher payment as they have established relationships with bulk bitcoin buyers, and need volume to feed their clients' hunger for the digital currency. They aim to make the selling process as simple and transparent as possible, not requiring any lengthy registration process, nor storing any personal information about their customers. Funds are delivered direct within 48 hours of purchase using Paypal, Western Union, or bank transfer, with the promise of complete privacy and anonymity. Tom Clark, CEO of PowerBTC.com said "We believe we are the best buyers for your bitcoin assets, whether you're a dedicated miner or a savvy trader. Not only do we offer better-than-market rates, but we deliver your funds in US Dollars direct with no strings attached, no need for registration, and a guarantee of complete privacy". Bitcoin has long been the most high-profile crypto currency, but its technological origins have often made it appear inaccessible to the mainstream investor. Talk of mining and exchanges can be off-putting, but PowerBTC.com aim to simplify the whole process of realizing bitcoin value by offering a no-frills, easy to use way of turning coins into solid cash. The service is not limited to new entrants to the blockchain arena, however, as the ease of converting a digital wallet into conventional currency at market-beating rates will appeal to even the most hardcore of bitcoin miners. The Key PowerBTC.com Features: All bitcoins purchased at significantly above market rates. No commissions or fees charged, just a clear and transparent buying price: what you see is what you get. Simple selling process with no registration or account required. Easy international payment in US Dollars via PayPal, Western Union, or bank transfer. Full anonymity guarantee with no personal details stored, and a safe and secure online platform. SOURCE: PowerBTC LLC View comments || Cyber threat grows for bitcoin exchanges: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft -- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014 -- is hardly a rare occurrence in the emerging world of crypto-currencies. New data disclosed to Reuters shows a third of bitcoin trading platforms have been hacked, and nearly half have closed in the half dozen years since they burst on the scene. This rising risk for bitcoin holders is compounded by the fact there is no depositor's insurance to absorb the loss, even though many exchanges act like virtual banks. Not only does that approach cast the cyber security risk in stark relief, but it also exposes the fact that bitcoin investors have little choice but to do business with under-capitalized exchanges that may not have the capital buffer to absorb these losses the way a traditional and regulated bank or exchange would. "There is a general sense in the bitcoin community that any centralized repository is at risk," said a U.S.-based professional trader who lost about $1,000 in bitcoins when Bitfinex was hacked. He declined to be named for this article. "So when investing, you always have that expectation at the back of your head. I lost a small amount compared to the others, but I know of traders who lost millions of dollars worth of bitcoins," the trader said. The security challenge for the bitcoin world does not appear to be letting up, according to experts in the currency. "I am skeptical there's going to be any technological silver bullet that's going to solve security breach problems. No technology, crypto-currency, or financial mechanism can be made safe from hacks," said Tyler Moore, assistant professor of cyber security at the University of Tulsa's Tandy School of Computer Science who will soon publish the new research on the vulnerability of bitcoin exchanges. Story continues His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world. In contrast, data from the Privacy Rights Clearinghouse, a non-profit organization, showed that of the 6,000 operational U.S. banks, only 67 banks experienced a publicly-disclosed data breach between 2009 and 2015. That's roughly 1 percent of U.S. banks. Among the world's stock exchanges, however, security breaches are much higher, with hackers attracted to the large pools of cash moving in and out of these trading venues. The latest survey of 46 securities exchanges released three years ago by the International Organization of Securities Commissions and World Federation of Exchanges found that more than half had experienced a cyber attack. Moore collaborated on the research with Nicolas Christin, associate research professor at Carnegie Mellon University and Janos Szurdi, a Ph.D. student also at Carnegie. In 2013, Moore and Christin wrote a research paper on security risks surrounding bitcoin exchanges when Moore was still a professor at Southern Methodist University. That research entitled Beware of the Middleman: Empirical Analysis of Bitcoin Exchange Risk was peer-reviewed and presented at the 17th International Financial Cryptography and Data Security Conference in Okinawa, Japan in 2013. In the most recent study, the rate of closure for bitcoin exchanges in Moore's research edged up to 48 percent among those operating from 2009 to March 2015. Hacking did not necessarily trigger the closure in each case. "A 48 percent closure is not acceptable, but not surprising given that bitcoin is a new technology," said Richard Johnson, vice president of market structure and technology at Greenwich Associates. Johnson has written reports on risk and security issues in the crypto-currency world. Profitability is a big problem for bitcoin exchanges, with many of them unable to generate enough volume to keep afloat. Bitcoin exchanges overall could be launched for as low as $100,000 up to $1 million, said Erik Voorhees, founder and chief executive officer of digital currency exchange ShapeShift. That is a fraction of what U.S. forex exchanges' are required to put up. Retail FX trading platform FXCM, for instance, is required by the Commodity Futures Trading Commission to have at least $25 million in capital at all times. RECOVERING LOSSES A key factor tied to the risk posed by exchanges is whether customers are reimbursed after closure or after the loss of bitcoins following a hack. Each closure and breach have been handled differently, but Tandy's Moore said the risk of losing funds stored in exchanges are real. In the case of Bitfinex, which is now up and running after the hack August 2, customers lost 36 percent of the assets they had on the platform and were compensated for the losses with tokens of credit that would be converted into equity in the parent company. At Tokyo's MtGox, customers have yet to recover their investments more than two years after closure. Experts say trading venues acting like banks such as Bitfinex will remain vulnerable. These exchanges act as custodial wallets in which they control users' digital currencies like banks control customer deposits. "The big exchanges that hold customer deposits are a big target for hackers," said ShapeShift's Voorhees, "and unfortunately most bitcoin exchanges store user funds." When customers' checking accounts are hacked, there is always a third party at the bank that can step in to deal with the theft. Not so with bitcoin, said Seattle-based Darin Stanchfield, chief executive officer at KeepKey, a hardware wallet provider. He expects more of these attacks to happen despite efforts to improve security at bitcoin exchanges. "Unfortunately because of its irreversible nature, bitcoin requires near perfect security." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Edward Tobin) || The Zacks Analyst Blog Highlights: UBS Group AG, Deutsche Bank, Bank of New York Mellon and Banco Santander: For Immediate Release Chicago, IL – August 26, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include UBS Group AG (UBS), Deutsche Bank AG (DB), Bank of New York Mellon Corp. ( BK) and Banco Santander, S.A. (SAN). Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free. Here are highlights from Thursday’s Analyst Blog: Big Banks Team Up to Develop Blockchain System Wall Street's increasing focus on digital currency technology has been affirmed yet again with the recent teaming up of a group of financial giants for the development of Utility Settlement Coin (USC). It is a digital cash model based on blockchain that aims to facilitate payment and settlement for global institutional financial markets. Swiss banking giant UBS Group AG ( UBS ) and London-based Clearmatics initiated USC last September “to validate the potential benefits of USC for capital efficiency, settlement and systemic risk reduction in global financial markets.” The successful conclusion of the first phase of this project led to the joining of Deutsche Bank AG ( DB ), The Bank of New York Mellon Corp. ( BK ), Banco Santander, S.A. ( SAN ) and brokerage firm ICAP to develop the concept further. The group also plans to undertake test in a real market environment. USC is a series of cash assets implemented on distributed ledger technology and is entirely backed by cash assets held at a central bank. With a version for each of the main currencies including USD, EUR, GBP and CHF, USC would be convertible at parity with a bank deposit in the related currency. According to a joint release, spending a USC will be equivalent to spending its real-world currency. The group of financial institutions will focus on the financial structuring of the USC and its implications in the broader market. Alongside they will remain engaged in discussions with central banks and regulators to ensure a regulation compliant and efficient framework within which the USC can be implemented. Hyder Jaffrey, Head of Strategic Investment & FinTech Innovation at UBS Investment Bank stated, "Digital cash is a core component of a future financial market fabric based on blockchain technologies.” He further added, "There are several digital cash models being explored across the Street. The Utility Settlement Coin is focused on facilitating a new model for digital central bank cash." Paul Maley, Managing Director, Institutional Client Group, Deutsche Bank noted, "As today's settlement and clearing is a process involving many institutions, it's vital that we collaborate with our peers to develop viable alternatives to current models, creating new digital capabilities for the financial services industry.” Blockchain Buzz Blockchain, the “digital ledger” or the underlying technology behind Bitcoin, has gained attraction for its significant potential to revamp the extensive and complex network of bank payments as well as settlements. While Bitcoin was one of the first cryptographic currencies that drew attention in 2009, several other cryptographic currencies are currently available including Novacoin, Namecoin and Dogecoin. Bottom line Story continues The latest development tied with Blockchain platform crops up as banks are embracing technology and are continuously looking out for ways to restructure daily operations, update back-office functions and making huge investments for auto execution of transactions. While banks and regulators continue to explore prospects and benefits of digital currencies, concerns including security and impact on the broader financial system still lingers. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free. About Zacks Equity Research Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term. Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons. Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today. About Zacks Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros. Follow us on Twitter: https://twitter.com/zacksresearch Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UBS GROUP AG (UBS): Free Stock Analysis Report DEUTSCHE BK AG (DB): Free Stock Analysis Report BANK OF NY MELL (BK): Free Stock Analysis Report BANCO SANTAN SA (SAN): Free Stock Analysis Report To read this article on Zacks.com click here.
[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$679.00/$679.13 #Bitstamp
$658.58/$660.98 #BTCe
⇢$-20.55/$-18.02
$680.02/$680.16 #Coinbase
⇢$0.89/$1.16 || One Bitcoin now worth $573.06@bitstamp. High $575.00. Low $566.80. Market Cap $ 9.077 Billion #bitcoin pic.twitter.com/lyLtvjrzq9 || #BTA Price: Bittrex 0.00001625 BTC YoBit 0.00001341 BTC Bleutrade 0.00001585 BTC #BTAprice 2016-08-03 00:00 pic.twitter.com/mZ6OkWHkhu || Goedkoopste Nederlandse aanbieder op dit moment is Clevercoin (http://www.bitcoinweb.nl/kopen-clevercoin …) - 0.00 Euro/bitcoin - http://www.bitcoinweb.nl/prijzen-bitcoins-vergelijken/ … || 1 BTC Price: BTC-e 572.902 USD Bitstamp 570.00 USD Coinbase 571.66 USD #btc #bitcoin 2016-09-01 18:30 pic.twitter.com/myfPHvjsFf || #bitcoin #miner Antminer S5+ S5 Plus Bitcoin Miner 7.7 TH/s BTC NMC Rare $489.00 http://ift.tt/2asCkmb pic.twitter.com/sAK3yOzUW3 || #BTA Price: Bittrex 0.00001501 BTC YoBit 0.00002200 BTC Bleutrade 0.00001656 BTC #BTAprice 2016-07-27 23:00 pic.twitter.com/EEZ2CLlI37 || 1 MUE Price: Bittrex 0.00000098 BTC YoBit 0.00000062 BTC Bleutrade 0.00000103 BTC #MUE #MUEprice 2016-09-06 00:00 pic.twitter.com/l1xf4mILho || #Bitcoin last trade
@bitfinex $671.87
@btcecom $660.00
Set #crypto #price #alerts at http://AlertCo.in || Bitstamp: $602.00
Bitfinex: $611.2
Coinbase: $606.83
Get a #Bitcion loan today https://goo.gl/smQBq1
#btc #FreeBitcoin
|
Trend: down || Prices: 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-03-19]
BTC Price: 6191.19, BTC RSI: 38.99
Gold Price: 1478.60, Gold RSI: 34.09
Oil Price: 25.22, Oil RSI: 26.97
[Random Sample of News (last 60 days)]
Bitcoin Dips Below 8,654.8 Level, Down 2%: Investing.com - Bitcoin fell bellow the $8,654.8 level on Friday. Bitcoin was trading at 8,654.8 by 10:17 (15:17 GMT) on the Investing.com Index, down 2.33% on the day. It was the largest one-day percentage loss since February 26.
The move downwards pushed Bitcoin's market cap down to $158.1B, or 62.55% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $8,451.9 to $8,898.7 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 10.56%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $42.9B or 27.13% of the total volume of all cryptocurrencies. It has traded in a range of $8,451.9355 to $9,981.0371 in the past 7 days.
At its current price, Bitcoin is still down 56.44% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $222.81 on the Investing.com Index, down 3.25% on the day.
XRP was trading at $0.23523 on the Investing.com Index, a loss of 2.18%.
Ethereum's market cap was last at $24.6B or 9.74% of the total cryptocurrency market cap, while XRP's market cap totaled $10.3B or 4.09% of the total cryptocurrency market value.
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CBDC Push Takes Ukraine Closer to Crypto Adoption || Bitcoin Climbs Above 9,782.4 Level, Up 2%: Investing.com - Bitcoin rose above the $9,782.4 threshold on Friday. Bitcoin was trading at 9,782.4 by 19:50 (00:50 GMT) on the Investing.com Index, up 2.37% on the day. It was the largest one-day percentage gain since February 5.
The move upwards pushed Bitcoin's market cap up to $177.7B, or 62.96% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $9,770.7 to $9,816.3 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 3.03%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $37.5B or 27.33% of the total volume of all cryptocurrencies. It has traded in a range of $9,179.9121 to $9,854.8955 in the past 7 days.
At its current price, Bitcoin is still down 50.77% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $216.46 on the Investing.com Index, up 6.19% on the day.
XRP was trading at $0.28303 on the Investing.com Index, a gain of 1.85%.
Ethereum's market cap was last at $23.6B or 8.38% of the total cryptocurrency market cap, while XRP's market cap totaled $12.3B or 4.37% of the total cryptocurrency market value.
Related Articles
Chinese Crypto Mine Stop or Stall Operations Due to Coronavirus Outbreak
Coinbase and Ripple Push for Regulatory Framework, US Congress Stalls
US Navy Bets $9.5M on Blockchain to Keep Messaging Secret || Tim Draper Buys 2.5% of Aragon Tokens, Becomes Governance Whale: Venture capitalist Tim Draper has taken a 1 million ANT stake (worth about $760,000 at press time) in Aragon, a decentralized governance project that began on ethereum.
The move, disclosed in a press release Wednesday, gives Draper control of about 2.5 percent of Aragon’s total token supply. Draper is a long-time crypto evangelist and serial project backer.
The Switzerland-based Aragon Association is attempting to build a digital judicial system for decentralized autonomous organizations (DAOs) and its own Aragon network. Any ANT holder with 1,000 tokens can participate in “Aragon Court,” which went into session for the first time on Feb. 10 witha controversial mock trialof ethereum classic dev Yaz Khoury.
Related:Hedera’s Token Price Spikes Prematurely After Google Joins the Network’s Governing Council
Aragon Association Executive Director Luis Cuende said Draper came on board after seeing the Aragon court go live.
“I think the recent launch of Aragon Court and the realization that Aragon can be to governance whatbitcoin(BTC) is to money” prompted Draper to join, Cuende said.
Draper did not immediately respond to requests for comment.
Draper’s eponymous VC firm had previously invested in Cuende’s email immutability startupStampery. Cuende said that relationship helped Draper get involved Aragon.
Related:Zcash’s Funding Vote and the Woes of Decentralized Governance
Draper will also sit on Aragon’s advisory board, according to Cuende.
• Roger Ver’s Mining Pool Pulls Support for Bitcoin Cash Dev Fund Over Chain Split Threat
• Bitcoin Cash Miners Propose Controversial Soft Fork for Zcash-Style Development Fund || Insurers look to curb ransomware exposure as U.S. cyber rates rise: By Suzanne Barlyn (Reuters) - U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, known as ransomware, to take down systems that control everything from hospital billing to manufacturing. They stop only after receiving increasingly hefty payments. The attacks happened less frequently in 2019, but the problem remains significant, cybersecurity experts said. "Ransomware is more sophisticated and dangerous than we saw in the past," said Adam Kujawa, director of Malwarebytes Labs. There were 6% fewer ransomware incidents in 2019 versus the prior year, according to Malwarebytes. However, attacks are now designed to spur deeper and more lasting technological problems, with hackers demanding bigger sums. The average ransom of $41,198 during the 2019 third quarter more than tripled from the first quarter, according to Coveware, which helps negotiate and facilitate the payments. Ransoms are becoming disproportionate to the size of targets, said Kelly Castriotta, Allianz SE North American head of product development for financial lines. Hackers frequently pursue mid-size companies and other organizations that are less technologically adept, but also have less revenue to cover big ransoms. "You'd expect a ransomware demand that you can pay," Castriotta said. The U.S. rate increases underscore broader global ransomware problems from which no company is immune. Ransomware recently crippled foreign-exchange firm Travelex Ltd's systems for weeks, leaving staff to serve customers with pens and paper. Hackers demanded $6 million, the BBC reported. Travelex declined to comment. Another attack in December paralyzed the Albany County Airport Authority's administrative computers. It had to pay $98,705.96 in Bitcoin to get the system unlocked, a spokesman told Reuters. Its insurer, Chubb Ltd, covered the ransom, he said. Chubb declined to comment. Story continues Cyber-insurance premiums started rising 5% to 25% late last year, said Robert Parisi, U.S. cyber product leader at Marsh & McLennan Companies Inc. He called the increases "dramatic" but said insurers have not scaled back coverage. Cyber policies often cover not just ransom, but data recovery, legal liabilities and negotiators fluent in hackers' native languages. Some insurers are considering changes, given the rising costs. Allianz is looking into price adjustments and whether ransomware should be a separate product from general cyber coverage, Castriotta said. Zurich Insurance Group AG is more likely to underwrite firms that have added network features to prevent attacks from spreading through systems, said its chief risk officer, Peter Giger. Sompo International is reviewing criteria for businesses that have been most vulnerable to ransomware, said Brad Gow, global cyber product leader. Insurers including Sompo may also lower amounts they pay for ransomware attacks against higher-risk companies or shift to coinsurance, in which policyholders would pay 20% to 30% of ransomware claims, Gow said. They might also require those policyholders to have data-backup procedures. Gow compared potential changes to requiring airbags or sprinkler systems. "We can drive a win-win by helping our clients become better protected," he said. (Reporting by Suzanne Barlyn; Additional reporting by Carolyn Cohn in London and Noor Zainab Hussain in Bengaluru; Editing by Lauren Tara LaCapra and Nick Zieminski) || Coinbase Chief Legal Officer Leaves to Take Senior Role at US Bank Regulator: Coinbase’s chief legal officer, Brian Brooks, is leaving the crypto exchange to become the second in command at the U.S. Office of the Comptroller of the Currency (OCC). The OCC announced Brooks’ appointment Monday, saying U.S. Treasury Secretary Steven Mnuchin designated Brooks as the new deputy effective April 1, 2020. Brooks, a former Fannie Mae executive vice president, general counsel and corporate secretary , has served as chief legal officer at Coinbase since September 2018. Mnuchin said in a statement he looks forward to working with Brooks to ensure “the stability of our financial system.” Related: Coinbase Card Users Can Now Make Crypto-Backed Payments With Google Pay The OCC is responsible for for supervising and regulating national banks and financial institutions within the U.S. Established in 1863, the independent entity ensures banks are meeting capital and risk requirements, according to Investopedia . Current Comptroller of the Currency Joseph Otting, who was nominated by U.S. President Donald Trump and sworn in in 2017, said in a statement that Brooks “brings an extensive career of legal, banking and financial innovation expertise to the agency.” “He is a visionary thinker with a passion for service and a deep understanding of how the financial services industry supports our nation’s prosperity. We are fortunate to attract such an experienced and talented individual to join our federal agency,” Otting said. Indeed, Brooks has been a vocal proponent of developing a private digital currency for the U.S., writing in Fortune Magazine last year that private corporations are best suited to building a digital dollar. Related: Bitcoin Volume Gains Traction After 24-Hour Roller-Coaster Ride He envisioned a system where the public sector would set monetary policy, but the actual technology would be built by the private space. In a statement, a Coinbase spokesperson told CoinDesk that “in the midst of a public health and financial crisis, we are comforted to know that Brian Brooks will serve in this critical role overseeing the nation’s banking system.” Story continues “Brian is an amazing and accomplished leader who has been invaluable in shaping the Coinbase legal and compliance programs, and helping policymakers and regulators better understand the opportunities and benefits of crypto. We’re always proud of Coinbase alumni who go on to serve in government, bringing a crypto-friendly perspective with them,” the spokesperson said. Zack Seward contributed reporting. Related Stories Does Crypto Need Circuit Breakers? Last Week’s Price Crash Ignites a Debate Bitcoin Ekes Out Gains but Remains in Red Amid Broader Market Rebound || Was the crypto winter cold enough?: After the boom of 2017 Bitcoin crashed back down to earth with an almighty wallop. Yet the lows of $3,000 were still a lot higher than the dips which had gone before. Since then, Bitcoin has crept slowly but surely up to the $9,000 mark with a few choppy moments along the way. All the while, mainstream news has struggled to find its appetite for crypto sufficiently whetted – apart from when Libra and Facebook made their big announcement. So has the crypto winter been harsh enough to weed out the unnecessary projects that fill this industry? If it has not, then the question on many lips becomes: ‘If we see another price rise akin to 2017, will the altcoins follow and will this be a positive or negative?’ When Coin Rivet spoke to Marco Peereboom of Decred he made clear that he hoped for an extensive purge that would eliminate many of the projects that have infected the cryptocurrency industry. Even though the crypto winter has been harsh on many altcoins, they are not dead. Discussion has since turned to how a dramatic rise in the Bitcoin price would affect altcoins. Would they rise in union or will Bitcoin finally separate and prove itself as the only viable cryptocurrency. During 2017 numerous criminal cryptocurrency scams and also many that flirted with providing very little product but managed to rake in huge profits by riding the coattails of Bitcoin. Since then many of those projects’ leaders have walked off into the sunset with a healthy pocket. This debate predictably occurs between the Bitcoin maximalists and altcoiners. Whilst neither group are capable of predicting the future, it is difficult to ascertain that from their tweets such is their certainty and confidence. One of the main issues that arises with all cryptocurrencies boosting substantially in value over time is that mainstream media begins to pay interest once again. Under substantial scrutiny many of these projects then become clearly unfeasible. This in turn brings valid questions as to the value and importance of the industry as a whole. Story continues When the price inevitably crashes, the criticism from mainstream media becomes vindicated, and the cycle repeats itself. The cryptocurrency markets certainly have no need for more than 5,000 distinct cryptocurrencies. Even the most passionate of altcoin believers would find it hard to disagree. Yet as they continue to cling on to life despite a massive crash in price it appears that the crypto winter has not killed them off yet. The post Was the crypto winter cold enough? appeared first on Coin Rivet . || CME Bitcoin Futures Daily Trading Volume Hits 2020 Low – That’s a Bullish Sign: Daily trading volume inbitcoin(BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.
The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.
What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.
Related:Above $10K: CME Bitcoin Futures Hit 3.5-Month Highs
Bitcoin CME futures contracts, which went live in December 2017, have recorded above-$1 billion daily volume only three times.
While daily volume collapsed in the last three trading days of the previous week, open interest remained near the seven-month high of $338 million, registered on Feb. 14.
Open interest refers to the number of futures contracts outstanding on an official exchange at any one time, while volume is the number of contracts traded in a given period.
A drop in volume accompanied by an elevated open interest is usually considered a sign of investors holding on to their positions. In such cases, the market usually extends the preceding move; bitcoin’s price rose over 50 percent from lows below $7,000 to $10,500 in the six and a half weeks to Feb. 18.
Related:Open Positions in Bakkt’s Bitcoin Futures Jump to Record Highs
A rally like that is said to have legs since the price gain was backed by an increase in open interest and trading volume. In the first six weeks of the year, daily volumes increased from $176 million to $1.1 billion and open interest rose from $127 million to $338 million.
Bakkt open interest slides
Activity in bitcoin futures listed on Intercontinental Exchange’s Bakkt platform has cooled recently, with open interest plunging from a record high of $19 million down to $10 million in just seven days to Feb. 20.
Meanwhile, daily trading volume (cash-settled plus physically-settled) declined to $18.6 million on Feb. 21, the lowest since Jan. 24. Bakkt futures witnessed a record trading volume of $50.1 million on Dec. 18.
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• ICE Snaps Up Loyalty Program Provider Bridge2 to Boost Bakkt’s Consumer Play || Mass Surveillance Threatens Personal Privacy Amid Coronavirus: COVID-19 is rapidly changing people’s day to day lives across the globe. China has instituted large-scale lockdowns on travel, quarantining whole cities, while France has banned large gatherings and the U.S. has taken moves to allow huge sections of the workforce to work from home and is even exploring measures to pay hourly workers who are sick or forced to self-quarantine. As the headline of a New York Times op-ed succinctly put it, “ Everyone’s a Socialist in a Pandemic. ” As governments look to contain the spread of COVID-19, they’re turning to every tool at their disposal, including large surveillance networks, personal cell phone tracking, and AI and facial recognition. In the interest of preserving a society’s health, it makes sense to use every option available. But it does raise privacy questions that will need to be addressed when the virus (hopefully) has moved on. What’s good in an emergency response situation may not be suitable for normal day to day life, as we arguably learned in the aftermath of 9/11 , as government surveillance capacities have greatly increased and big tech has built whole businesses models based on sifting through and finding value in our data. Related: Crypto Prepped Before Coronavirus Went Global In China, SenseTime, a highly valued AI firm, is being deployed in multiple cities in order to identify people with elevated temperatures, as well as those who aren’t wearing face masks. On its website, the company touts its “Smart AI Epidemic Prevention Solutions.” The company calls it a “quick and effective system in screening and detecting individuals with elevated temperature in a crowd. The AI-powered solution can be deployed at building entrances and public spaces including airports, train and subway stations, as well as office buildings. The solution enables supporting staff to identify individuals with a fever – an indicating symptom of coronavirus infection – without direct body contact, minimizing the risk of cross-infection.” Story continues See also: Chinese Crypto and Blockchain Firms Grapple With Coronavirus Outbreak SenseTime told the BBC its tech has been deployed in Beijing, Shanghai and Shenzhen. Other companies such as Megvii advertise a similar product , which has been rolled out in Beijing, according to the company, and describes it as an “AI-enabled temperature detection solution that integrates body detection, face detection and dual sensing via infrared cameras and visible light.” In Russia, facial recognition technology has been deployed to ensure that quarantined individuals do not leave their homes or hotels. Related: Bitcoin Shopping Gets a Boost From Social Distancing It’s not just external cameras being used to track individuals. It’s also the very device many people take with them everywhere, our smartphones. Telecom companies in China are handing over records of customers’ movements to the government as well as letting users know if they have been in an impacted area recently, while places such as Singapore have worked to trace infected individuals’ movements through data from ride-sharing apps, Monash University academics, in Australia, found . Events such as the 2008 Beijing Olympics, and the 2010 Shanghai Expo, have allowed mass surveillance techniques to become the norm in China. The same could happen with Coronavirus. Meanwhile, the state-owned China Electronics Technology Group Corporation (CETC) launched a new government platform, Close Contact Detector, which pulls publicly available transit data from the Ministry of Transport, China Railway and China’s aviation authority and combines it with information from health authorities. Users can access the service via Alipay, WeChat and QQ. Apps themselves can be used to track users’ locations over the course of their lifetimes. One of the most egregious examples is the the system called Health Code, which dictates freedom of movement, whether people should be quarantined, or even allowed into public spaces, while also sharing location data with police. Analysis by the New York Times “found that as soon as a user grants the software access to personal data, a piece of the program labeled ‘reportInfoAndLocationToPolice’ sends the person’s location, city name and an identifying code number to a server.” There is little to no transparency as to how the app functions, what data it collects and where the data is sent. “With the coronavirus outbreak the idea of risk scoring and restrictions on movement quickly became reality,” Maya Wang, a senior China researcher for Human Rights Watch, told the Guardian. “Over time we see more and more intrusive use of technology and less ability of people to push back.” “It’s mission creep,” she said . “The techniques of mass surveillance became more permanent after these events.” Events such as the 2008 Beijing Olympics and the 2010 Shanghai Expo have allowed mass surveillance techniques to become the norm in China. The same could happen with the coronavirus. See also: China Has Many Strategic Reasons to Invest in Blockchain Officials in Wuhan are stepping up their data collection requirements, looking at retail purchases and taxi rides as data for pandemic predictive analysis, according to the South China Morning Post . It’s fair to argue these measures are necessary as the world grapples with a pandemic it hasn’t seen the likes of in a decade. But the Chinese government has a habit of saying the quiet part loud. “In the era of big data and internet, the movements of each person can be clearly seen,” Li Lanjuan, an adviser to the National Health Commission, said on national television, according to the BBC. But these are extreme measures taken to address an extreme situation. They should not be treated as normal, reasonable or inevitable. To do so means they might just outlast the scope of the pandemic and fundamentally change the lives of billions of people. CORRECTION (March. 21, 12:51 UTC): This article incorrectly identified the Health Code system as Alipay Health Code. The Health Code program is developed by the Chinese government and hosted on the Alipay app through an API. Related Stories CoinDesk Takes Consensus 2020 Virtual Defining Cryptocurrency Is the Best Way to Kill It || Is bitcoin's 2020 rally another flash in the pan?: By Tom Wilson LONDON (Reuters) - Crypto analysts are split on whether bitcoin's rise this year is driven by unique factors or is just its latest bout of volatility. But many agree on one factor: an upcoming cut to the supply of bitcoin. Bitcoin has soared by almost half this year, to more than $10,000, for the first time since October. On Tuesday it hit its highest in five months. The cryptocurrency's 11-year history is replete with fast ascents and equally rapid plunges. In late 2017, it rose three and a half times in just 35 days to reach almost $20,000. It then slumped 70% in seven weeks. Such wild and often inexplicable swings are why bitcoin faces a struggle to become a functioning currency. This time around, some market players point to a confluence of drivers not seen before. Arcane tech factors, expectations for mainstream acceptance and macroeconomic trends are leading markets to look again at bitcoin's worth, they say. "You can argue that there is a fresh valuation going on," said Russ Mould, investment director at AJ Bell, a stockbroker that oversees assets worth $71 billion. Most fundamentally, many cite growing demand for bitcoin before its latest "halving" -- a 50% cut in the production of the cryptocurrency due in May that is one of the few observable events known to materially impact price. A rule written into bitcoin's underlying code slashes the number of new coins awarded to the miners behind the global supply of bitcoin. In the year after the two previous halvings, in November 2012 and July 2016, bitcoin rose around by 80 times and four times respectively. The exact proportion of the gains caused by the halving is unclear. "It's a rare observable factor - if you look at previous events, in each case there has been a quite clear and discernable spike in the value of bitcoin," said Windsor Holden, a payments consultant who tracks crypto and blockchain. Bitcoin's Halving https://fingfx.thomsonreuters.com/gfx/mkt/13/2066/2034/Halving%20Graphic.png Story continues "HYPE CYCLE" But others doubt bitcoin's latest rally is underpinned by anything more substantial than the previous booms. "The recent rally has been driven by the usual hype cycle that we have very reliably seen every two to three years," said Michel Rauchs, author of several Cambridge university studies on cryptocurrencies and blockchain tech. "We have these mini-bubbles, and the momentum that it creates - bitcoin first, then these other coins. It's a self-fulfilling prophecy." Major cryptocurrencies that tend to move in correlation with bitcoin have also gained this year. Ethereum has more than doubled; Ripple's XRP token is up over 75%. Other factors cited for the rally, such as greater demand for assets uncorrelated to mainstream markets following the U.S. killing of an Iranian military commander last month, are also questionable. Bitcoin's "safety" characteristic is unclear. It has regularly fallen in times of geopolitical stress in recent years. Looser central bank policy is also given as a reason bets on riskier assets. But that link is hard to prove, too. Bitcoin has fallen during previous spells of easy money. DIGITAL DOLLAR? Also widely cited are expectations that cryptocurrencies will go mainstream, as central banks step up their research into digital currencies after Facebook's push to offer its Libra coin. Some, such as China's, are getting closer to issuing their own coins. And in comments that traders said stoked buying in bitcoin, U.S. Federal Reserve Chairman Jerome Powell told U.S. lawmakers on Tuesday that the Fed was "working hard" on the issue, while it remained undecided on any digital dollar. Central bank interest is also problematic as a reason for bitcoin's rise, Rauchs said. "People tend to mix up and conflate these different concepts that are actually fundamentally different from one another," he said. "This creates a bubble where you conflate everything together and everything appreciates." Still, in the short term, crypto traders interviewed by Reuters said, the cut to the supply of bitcoin was likely to loom largest for investors. "Things are aligning," said Jamie Farquhar, portfolio manager at crypto firm NKB Group. "But the real thing that people are looking at is the halving." ($1 = 0.7713 pounds) (Reporting by Tom Wilson, editing by Larry King) || The cryptocurrency market is now valued at $300 billion: The global market capitalization of all cryptocurrencies has reached a combined total of $300 billion—a value that hasn't been seen since July 2019. The total crypto market cap has been on the rise for the better part of two months, having climbed from a low of $178.1 billion in mid-December. Almost $18 billion was added to the crypto market in the last 24 hours, with most cryptocurrencies racking up significant price gains. Bitcoin (BTC) was responsible for half of the market growth, after gaining 5.3% in the last day and adding almost $9 billion to its market cap. Federal Reserve Chairman Jerome Powell made comments in a hearing yesterday of the US House Committee on Financial Services , about Libra and the possibility of a US digital currency , shortly before Bitcoin's sudden $400 price rise. Despite this growth, Bitcoin has seen its market dominance gradually shrink as several major altcoins have racked up significant gains in the last several months. In particular, Bitcoin Cash (BCH) , Bitcoin SV (BSV) , Ethereum (ETH) and Tezos (XTZ) have all exceeded the growth of Bitcoin by some margin—gaining at least 39% and as much as 100% against BTC in the past month. With that said, the exact cause behind this bullish momentum over the last few months is still up for debate, but currently appears to be a combination of several factors, including growing institutional interest , the upcoming halving events for Bitcoin and several other coins, as well as increased tensions between the US and Iran. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-10-04]
BTC Price: 49112.90, BTC RSI: 59.96
Gold Price: 1766.20, Gold RSI: 48.81
Oil Price: 77.62, Oil RSI: 71.41
[Random Sample of News (last 60 days)]
Gold Price Forecast – Gold Markets Continue to See Support Hold: Gold marketshave initially pulled back during the trading session on Tuesday but have turned around to rally yet again. The $1775 level has been broken above, so it is likely that we could go looking towards the $1800 level next, which is where we have the 200 day EMA hanging about and have seen a significant amount of selling pressure. At this point, which looks to be an area that will probably show a lot of selling pressure, and therefore I think I am going to be waiting for an opportunity to short the market in that general vicinity.
To the downside, the $1750 level will probably come in and support as well, and I do think that it is worth paying close attention to. With that being the case, if we break down below the $1750 level that I think the market is looking to the $1680 level underneath, which has been massive support more than once. With that in mind, I think that it is only a matter of time before we could take out that level if we reach there again, because this will be the fourth attempts. Breaking down below that would open up a bit of a trapdoor for much lower pricing.
To the upside, if we were to take out the $1805 level, then I think it is likely that we go looking towards the $1835 level after that. Clearing that could change the entire trend, but right now I just do not see that happening, because there is so much in the way of noise between here and there and of course the US dollar has been strong for a while.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Update: A Revisit of $29,000 Cannot be Excluded Just Yet || The Crypto Daily – Movers and Shakers – August 29th, 2021: Bitcoin, BTC to USD, slipped by 0.34% on Saturday. Following a 4.79% rally on Friday, Bitcoin ended the day at $48,914.0.
A choppy start to the day saw Bitcoin rise to an early morning intraday high $49,310.0 before hitting reverse.
Falling short of the first major resistance level at $50,038, Bitcoin slid to an early afternoon intraday low $48,385.9.
Steering well clear of the first major support level at $47,242, Bitcoin revisited $49,200 levels before falling back into the red.
The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Saturday.
Bitcoin Cash SV(+0.39%) andCrypto.com Coin(+1.33%) bucked the trend on the day.
It was a bearish day for the rest of the majors, however.
Ripple’s XRPandCardano’s ADAfell by 3.88% and by 3.30% respectively to lead the way down.
Binance Coin(-1.67%),Chainlink(-1.23%),Ethereum(-0.83%),Litecoin(-0.35%), and Polkadot (-1.89%) also struggled.
In the current week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $2,092bn.
Bitcoin’s dominance rose to a Thursday high 44.98% before falling to a Saturday low 43.55%. At the time of writing, Bitcoin’s dominance stood at 43.92%.
At the time of writing, Bitcoin was down by 0.06% to $48,887.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,958.0 before falling to a low $48,879.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.06%) and Litecoin (-0.16%) joined Bitcoin in the red early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Bitcoin Cash SV was up by 2.93% to lead the way.
Bitcoin would need to avoid the $48,870 pivot to bring the first major resistance level at $49,354 into play.
Support from the broader market would be needed for Bitcoin to break back through to $49,300 levels.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $49,311 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $49,794.
A fall through the $48,870 pivot would bring the first major support level at $48,430 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,500 levels. The second major support level at $47,946 should limit the downside.
Thisarticlewas originally posted on FX Empire
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• Silver Price Prediction – Prices Rise on Dovish Fed || BTC, ETH, XRP, XMR, CHZ, BNB, AAVE — Technical Analysis Aug 10: BeInCrypto –
Bitcoin (BTC) is approaching a confluence of resistance levels between $46,950 and $47,750.
Ethereum (ETH) has reclaimed the $2,850 resistance level but is facing resistance at $3,360.
XRP (XRP) has broken out from an ascending parallel channel.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Cade Cunningham Signs Endorsement Deal With BlockFi, Takes Signing Bonus In Bitcoin: Cade Cunninghamendeared himself to fans in Stillwater, Oklahoma with his stellar play atOklahoma State University.Now, theDetroit Pistons’ first-overall pick from the 2021 NBA Drafthas charmed a new crowd:crypto enthusiasts.
What Happened:BlockFi,a crypto brokerage,announced on Thursdaythat the company signed an exclusive, multi-year partnership with Cunningham.
Cunningham joins Jacksonville Jaguars Trevor Lawrenceas the first overall draft picks to ink deals with crypto platforms, although Lawrence signed withBlockfolio.
"I'm excited to partner with BlockFi to really diversify my portfolio and manage my crypto assets; especially as they become more important in personal finance,"said Cunningham."For me, it's not just about setting up myself for financial success long-term but also to educate future generations on financial wellness."
As part of the partnership, BlockFi will provide Cunningham with a signing bonus paid directly inBitcoin(CRYPTO: BTC) into his BlockFi account, said the announcement.
Natural Fit:BlockFi hopes that Cunningham can use his platform to educate basketball fans about cryptocurrencies and financial strategies.
Zac Prince, co-founder and CEO of BlockFi, says that Cunningham’s interest in cryptocurrencies is compelling to the company and helped spurn the deal.
"Anyone who watched a minute of Cade's career thus far knows he is the future of basketball. What excites us is his interest in and commitment to cryptocurrencies, which we believe are the future of finance," said Prince.
"Cade is using his platform to educate basketball fans about the importance and potential of cryptocurrencies. That should be lauded, and BlockFi will support him every step of the way."
Photo: Still from ESPN "The Jump," YouTube
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin network smashes record amid huge price surge: The price of bitcoin has staged a remarkable recovery in August 2021 (Getty Images) Bitcoin saw a record amount of cryptocurrency transferred through its network this week more than two thirds more than it experienced during the price run that took it to an all-time high back in April. More than $188 billion worth of bitcoin was transferred on Tuesday, according to figures from blockchain data firm Glassnode, amid a buying frenzy that took its value above $50,000 for the first time since May. Other leading cryptocurrencies including Ethereum (ether), Cardano (ada) and Binance Coin have also seen remarkable price increases in recent days, pushing the overall cryptocurrency market cap from $1.9 trillion to $2.1tn in less than a week. The gains come after a major downturn between May and July, which saw the market cool off following a record-breaking run in the first four months of 2021. It has been boosted by positive news in the crypto space, including PayPals decision to open up the ability to buy, sell and hold bitcoin to millions of UK customers . The current high price could partly explain the record transfer volume, with some analysts claiming that it could encourage long-term holders to move their funds onto exchanges and cash in on profits. A report from Glassnode shows that the proportion of old bitcoins being spent on the network has once again increased as long-term holders take advantage of the currently high prices to realise profits, said Alexandra Clark, a sales trader at the UK based digital asset broker GlobalBlock. Whilst uncertainty remains for bitcoin in the short-term, its long-term future is clear, with professionals and academics stating that bitcoin, and digital assets more generally, will replace fiat currencies over the next five to 10 years. (Glassnode) The bitcoin transaction record, first spotted by popular market analysis Twitter account Bitcoin Archive , came on the same day that software firm MicroStrategy announced another major investment in the cryptocurrency. The Virginia-based firm, led by renowned bitcoin advocate Michael Saylor, bought a further 3,907 bitcoin for $177 million. Story continues It takes MicroStrategys total holdings to 108,922 bitcoin, worth roughly $3 billion at todays exchange rates, and makes it the largest corporate investor in the cryptocurrency. The next largest holder is Tesla, who announced a $1.5bn investment earlier this year, who currently hold roughly 42,000 bitcoins. Bitcoin skeptic and CEO of Euro Pacific Capital Peter Schiff attributed bitcoins recent price rise above $50,000 to MicroStrategys investment. Now that youre done buying (for now) the price will likely fall, he tweeted in response to Mr Saylors announcement. One wonders how much lower the price of bitcoin would be now had you not blown so much shareholder money buying more? Imagine the crash if you tried to sell! MicroStrategys $177m purchase represents less than 0.1 per cent of bitcoins transfer volume on 24 August, and was likely purchased over several days. Read More Bitcoin adoption in Afghanistan spikes amid Taliban takeover Bitcoin to the Moon? Huge price rally divides analysts in their predictions for 2021 How bad is bitcoin for the environment really? Amazon responds to bitcoin rumour that sent crypto market surging Bitcoin family travels world storing crypto in six secret locations || Congress’s Misstep on Crypto Reporting Shows the Dangerous Allure of Surveillance: The U.S. Senate may be nearing a compromise solution to fix a controversial cryptocurrency tax-reporting measure in the omnibus infrastructure bill. The intent of the measure was to impose 1099 tax reporting requirements on crypto exchanges and other companies that handle investments. But because of poorly crafted language, the original measure could have also covered cryptocurrency miners and software developers, who do not and cannot track the real-world identities of users.
On Monday afternoon, original sponsor Rob Portman (R-Ohio) announced a compromise had been reached toexclude “non brokers,”so, fingers crossed, revised language will address the problems. Whatever the outcome, the push for a compromise revision has been made possible by a huge groundswell of activism from U.S. citizens, including floods of emails and phone calls to Senate offices, and loud objections to the measure from figures fromSquare CEO Jack DorseytoGene Simmons of Kiss.
David Z. Morris is CoinDesk’s chief insights columnist.
Related:US Senate Sends Infrastructure Bill to House
One of the main sources of angst was the possibility the measure might impose tax reporting requirements onsoftware developerswho design financial tools and systems, such as decentralized finance (DeFi) protocols and digital wallets for storing crypto keys. According to the Electronic Frontier Foundation, a pro-digital rights group, the measure could “force software creators … to create cumbersome surveillance systems or stop offering services in the United States.”
This is a problem for a number of obvious reasons. The overriding issue is that, according to current U.S. case law,software is a form of speech, and thus protected by the First Amendment of the U.S. Constitution – a protection first established ina case about encryption. It would certainly be a matter for the courts if the initial language were to go into effect. Apple, for instance, was poised to use this argument in 2016 when the FBI tried to force it tocreate phone-unlocking software, though that case didn’t go to trial.
But that’s just the formal legal issue with the provision. The intensity of the backlash suggests something more visceral than mere constitutional angst. One explanation, I think, is that the measure would do something fundamentally un-American: make a crime not just illegal, butimpossible.
This all started, remember, as a measure about tax reporting. Requiring tax reporting from crypto entities was expected to raise about $28 billion in revenue to offset new spending for priorities like highways and trains. Fair enough! As myself and many others have made clear, the fight here isn’t against taxing cryptocurrency capital gains. Entities like Coinbase should absolutely report the tax information the government wants. Individuals shouldtrack and report transactionsthat take place elsewhere – and they should be pursued and punished by the justice system if they don’t.
Related:State of Crypto: What Just Happened in the US Senate?
But making it illegal to build financial software without built-in tax reporting features is a whole different kettle of fish. Such a mandate could be compared to a law requiring that every dollar bill be tagged with a GPS chip and tracked to ensure that it isn’t spent on anything illegal. Or to a law requiring all guns be equipped with a target camera and AI system to ensure they’re not being used to shoot the wrong things.
Translating the original tax measure into real-world terms illuminates why it met so much resistance. These are obviously absurd proposals that would fundamentally conflict with the American ethos by putting immense and direct control of individual decisions in the hands of the government. When it comes to paper money or guns, our deep cultural bias is towards leaving it up to individuals to choose to use them wisely and properly, while making sure they face justice if and when they commit a crime. (The actual way people behave with guns certainly leaves that stance open for scrutiny, but that’s a topic for another day.)
That Portman’s original language looped in so many non-brokers may mostly reflect regulators’ ignorance about the structure of decentralized systems. But it also reflects a deeper failure to think of digital systems through the same ethical framework of personal responsibility that we apply in the physical world. We saw another major sign of this bias recently at Apple, which after years of touting its commitment to privacy and security now plans to startmonitoring user communicationsfor child pornography – a measure that would be clearly morally repugnant if it involved monitoring the physical mail of millions of people as a way to catch predators.
To put it directly, the government should concern itself with catching criminals, not with outlawing tools with potential criminal uses. This is an especially important value to defend as financial systems become increasingly digital, in part for the same reason the Second Amendment exists: Limiting government power helps keep it honest. And as inconvenient as this truth may be, defending the right to financial privacy in the 21st century will be inextricable from defending individuals’ ability to commit crimes using unmonitored financial tools.
There is a further bit of infuriating context here. One reason the crypto-reporting provision was added so hastily to the infrastructure bill is that in late July, Republicans in Congress killed another pay-for in the bill: an additional$100 billion in revenuethat would have come from enhancing IRS enforcement of tax laws on corporations and the top 1% of income earners.
On the face of it, this is enraging because it shows Congress knows there’s a boatload of tax avoidance going on among the wealthy and corporations, but finds it more politically expedient to squeeze a nascent industry than putting more cops on an existing but poorly enforced beat.
But more deeply, it speaks to the profound allure that automated surveillance and censorship hold for the government, and why it demands strong opposition, not just when it comes to crypto, but in all walks of life.
• Institutional Investors Return to Bitcoin Despite US Crypto Tax Plans
• Several Crypto Mining Stocks Up Sharply as Bitcoin Rises Above $46K || Dollar choppy after Fed statement, Evergrande exhale lifts risk-sensitive currencies: (Updates with Fed policy statement)
By Chuck Mikolajczak
NEW YORK (Reuters) - The U.S. dollar was choppy on the heels of the latest policy announcement by the Federal Reserve on Wednesday, while risk-sensitive currencies such as the Australian dollar and Chinese yuan strengthened after China's Evergrande said it would make a bond coupon payment.
The Federal Reserve on Wednesday cleared the way to reduce its monthly bond purchases "soon" and signaled interest rate increases may follow more quickly than expected, with half of the 18 U.S. central bank policymakers projecting borrowing costs will need to rise in 2022.
"The tapering of quantitative easing seems very likely now in November but this was something of a given and remains couched in a lot of qualifying criteria in the event that various risks emerge, whether it is the debt ceiling debate, COVID outlook, the China property market intervening," said Steven Violin, portfolio manager at F.L.Putnam Investment Management Company in Wellesley, Massachusetts.
The dollar index rose 0.094%, alternating between gains and declines after the announcement, with the euro down 0.1% to $1.1711.
Property giant and Asia's biggest junk bond issuer Evergrande said it "resolved" one payment due on Thursday via a private negotiation, easing concerns of default and possible contagion risk, while the People's Bank of China injected 90 billion yuan into the banking system to support markets.
"Being able to make tomorrow's bond coupon payment, that definitely lifted risk sentiment overnight and you saw a typical follow-through reaction in risk currencies, so Canadian dollar high, Aussie dollar higher, Kiwi dollar higher - that was kind of an understandable reaction," said Erik Bregar, an independent FX analyst in Toronto.
Still, uncertainty remains whether the developer will be able to pay the coupon on its offshore dollar bonds, due on Thursday.
The Australian dollar rose 0.33% versus the greenback to $0.726 after rising as much as 0.49% to $0.7268 while the Canadian dollar rose 0.58% versus the greenback to 1.27 per dollar.
The offshore Chinese yuan strengthened versus the greenback to 6.4628 per dollar.
The safe-haven Japanese yen weakened 0.50% versus the greenback to 109.78 per dollar in the wake of the Bank of Japan's decision to keep policy on hold.
Sterling was last trading at $1.3637, down 0.16% on the day ahead of a policy announcement by the Bank of England on Thursday, with expectations for a rate hike being pushed down the road by investors.
In cryptocurrencies, Bitcoin last rose 6.93% to $43,409.48 following three straight days of declines.
(Reporting by Chuck Mikolajczak; Editing by Will Dunham and Andrea Ricci) || Twitter May Add Bitcoin to Its Tip Jar Feature in Near Future: Circulating rumors and leaked images suggest that Twitter may be adding the ability to pay with Bitcoin through its Tip Jar service. The social networking service announced its new Tip Jar feature back in May,allowing users to send and receive tips from other Twitter usersvia third-party payment services.
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Alessandro Paluzzi, a known leaker and developer, tweeted an image of how the system will supposedly work, The Street reported. According to the post, it may be integrated with Twitter’s existing Tip Jar service, using Strike to enable instant Bitcoin transfers through the lightning network.
Following Paluzzi’s leaked image, he said that he used reverse engineering to enable the feature on his phone; however, it is still inactive.
Related:Robinhood Plans To Grant Users Early Access to Their Paychecks
The leaked image is not the only indication that Twitter may be adding Bitcoin to Tip Jar. The Street also noted reports coming from a MacRumors post, talking about Twitter’s latest beta update. “Bitcoin isn’t yet available to select as a tip option for beta users, but code in the beta suggests that Twitter is in the process of rolling it out,” according to the post.
During the company’s second quarter earnings call, Twitter CEO Jack Dorsey confirmed to investors that bitcoin will be a “big part” of the company’s future, TechCrunch reported. “I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added.
See:Jack Dorsey, Elon Musk and 21 More CEOs Who Changed How We LiveFind:How Does Twitter Make Money?
TechCrunch also noted that a Twitter rep confirmed this is thefirst time that Dorsey has spoken publiclyabout how Twitter could integrate bitcoin into its lineup.
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This article originally appeared onGOBankingRates.com:Twitter May Add Bitcoin to Its Tip Jar Feature in Near Future || Growing Adoption, Bitcoin Bulls Make Big Comeback: Bitcoin predictions of $100,000 or more for Bitcoin are back in fashion thanks to the revival of the crypto market. For now, others think the fast-evolving financial asset will have a wider trading range as growing adoption comes to play. With regards to the US Dollar, bitcoin prices began to steadily climb above $49,000. The price of bitcoin at the time of writing this report was now above $49,500 and it could move even higher. On the hourly chart of the Bitstamp data feed of the Bitcoin/USD pair, there was a break above a crucial bearish trend line with resistance near $47,750 price levels. Furthermore, media reports that Bitcoin tipping will be available on Twitter have notably increased buying pressure. This would allow users to reward content creators with Bitcoin. Despite beta testing by a few users, Twitter has not announced when the upgrade will be officially launched for the general public. This could lead to continued rises in the flagship crypto if the price stays above the $49,000 support zone. The $49,850 price level is an immediate resistance on the upside. Near $50,000, there is the first significant resistance. Price could rise further if the $50,000 level is breached. From the swing high of $46,678 to the low of $46,533, the next support could be found at the 1.236 Fib extension level. In the coming sessions, the price may reach the $52,000 resistance zone if it keeps on rising. At $51,550, we have an intermediate resistance level. Finally, data collected from Glassnode, a crypto analytic data firm, indicates an increase in non-zero balances indicate adoption, interest, accumulation, and HODLing. Over 38 million Bitcoin addresses now exist, with the all-time high about to be broken. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Forex Technical Analysis Needs to Overcome 110.185 110.531 Resistance Zone to Extend Rally European Equities: A Quiet Calendar Leaves U.S Jobless Claims in Focus E-mini S&P 500 Index (ES) Futures Technical Analysis Sellers Could Be Targeting 4502.25 4492.75 Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis September 2nd, 2021 Crude Oil Price Update Trader Reaction to $67.63 to $69.02 Retracement Zone Sets the Tone Gold Price Futures (GC) Technical Analysis $1795.00 to $1828.80 Zone Controlling Near-Term Direction || Over 85,000 Merchants in Switzerland Now Accept Crypto Payments: BeInCrypto – Over 85,000 Worldline merchants in Switzerland now have capabilities to accept payments in crypto. A new collaboration between Worldline and Bitcoin Suisse enables crypto payments for over 85,000 across Switzerland. For now, payments are limited to bitcoin and ether. Worldline is a French payment and transactional service provider and Bitcoin Suisse a crypto-financial services firm. The news came from a press release last Thursday, which announced the new integrated service. WL Crypto Payments is the vessel, which provides Worldline merchants with this new capability. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-02-15]
BTC Price: 44575.20, BTC RSI: 63.07
Gold Price: 1854.80, Gold RSI: 60.67
Oil Price: 92.07, Oil RSI: 62.57
[Random Sample of News (last 60 days)]
Morocco Dominates Crypto Trading in North Africa: Despite the position of Morocco’s Foreign Exchange Office that it will not support any payment system that any financial institution does not back, crypto adoption in the North African country remains very high. Morocco Leads North Africa Crypto Adoption According to data released by Triple A, a Singapore-based cryptocurrency aggregator, around 900 thousand citizens of the country own Bitcoin . This means that the country ranks first amongst countries in North Africa, and it is the 50th largest holder of digital assets in the world. Another data from a peer-to-peer BTC trading tracking platform, Useful Tulips, also corroborated the earlier data, stating that the country ranked first for Bitcoin trades in 2021 in the region. However, when the data is expanded to the Middle East, the country ranks behind only Saudi Arabia. Useful Tulips data showed that Egypt is also close to catching the Moroccan BTC trades. Per the data, Egypt is $20,000 away from reaching Morocco’s level in Bitcoin trades on a 30 day period. Interestingly, crypto trades are prohibited in both countries. While the country strictly frowns on Bitcoin mining and trading, a group, Harmattan Energy, is set to build a 900MW wind site in Dakhla, the Sahara region with the intent of mining crypto. However, due to the government’s level of hostility to the space, the group cannot publicly declare the use of its site. Nigeria Remains Number one in Africa In Africa generally, the leaders in Bitcoin trading volume have remained between four powerful countries, such as Nigeria , Kenya , Ghana , and South Africa . Throughout the previous year, quarterly reports of Bitcoin trading always featured the dominance of all of the countries mentioned above . However, Nigeria repeatedly emerged first in 2021, followed by Kenya, while Ghana and South Africa generally battle for the third and fourth positions. Despite the concerns of the authorities about issues of money laundering and the fact that the industry was unregulated, the level of economic crises facing the countries like increasing inflation rates have made enthusiasts resort to crypto trading. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Top Five Web3 Coins To Have Under the Radar in 2022 Silver Prices Rise as Fed Chair Powell Testifies Gold Markets Continue Consolidation Silver Markets Rally to Reach Above $22.50 Crude Oil Markets Continue to Find Buyers Cryptos Waking Up From Stagnation Phase As BTC Trades Above $42K || Canada truckers - live: White House says bridge blockade supply chain risk as protesters dig in over mandates: Ottawa remains in a state of emergency as protesters in trucks opposed to Covid-19 restrictions continue to paralyse the centre of the Canadian capital. Separately, the Ambassador Bridge that connects Windsor, Ontario, with Detroit was blockaded by trucks in both directions late on Monday and remains at a near standstill today. It is a crucial commercial link between the US and Canada and supply chains already under pressure, it could quickly have a negative economic impact. In Ottawa, the hundreds of truckers have remained on the streets for 13 days. Residents are furious at the disruption and have successfully had an injunction granted banning the use of truck air horns. Mayor Jim Watson has asked the federal government to double the size of the police force to address what he called “an aggressive and hateful occupation of our neighbourhoods” an Prime Minister Justin Trudeau said a Monday evening statement that the protestors should go home and do not represent most Canadians. There was confusion regarding the protestors’ next move as one organiser claimed on TikTok they would be moving to Toronto on Wednesday — he has since said he was playing a game with police. With access to GoFundMe cut off, the protestors have turned to other sources of funding and have reportedly been thrown a lifeline by a group of libertarian bitcoin evangelists. Key Points Canadian truckers block off Michigan border bridge Trudeau again calls out protesters who waived swastikas Court grants ‘honking injunction’ against ‘Freedom Convoy’ Canada asks US Republicans to stay out of domestic affairs Bridge protest a problem Biden administration can no longer ignore Ottawa increases fines in protest zone 20:20 , Oliver O'Connell The City of Ottawa has increased fines in the protest zone, in some cases by ten times as much as the original fine. City of Ottawa increases fines for violations in the protest zone. (previous fine in parenthesis) •Noise Bylaw - $1,000 ($490) •Idling Bylaw - $1,000 ($100) •Use of Care of Road Bylaw - $1,000 ($350) •Open Air Fire Bylaw - $1,000 ($100) #ottnews https://t.co/AcXmhKuiRB — Josh Pringle (@PringleJosh) February 9, 2022 Mayor Jim Watson says those who don’t pay their fines will not have their licences renewed. Texas AG investigating GoFundMe for taking down Canadian trucker fundraiser 20:02 , Oliver O'Connell Story continues A press release dated today from Texas Attorney General Ken Paxton’s office confirms that he will be investigating GoFundMe for shutting down the fundraiser for the Canadian trucker protest. Texas Attorney General Ken Paxton issued Civil Investigative Demands (CIDs) to GoFundMe Inc to investigate potential violations of the Texas Deceptive Trade Practices Act (DTPA). The crowd-funding platform’s integrity has come into question after it removed a multimillion-dollar fundraising campaign for the Canadian truckers “Freedom Convoy” which is protesting vaccine mandates. “GoFundMe’s response to an anti-mandate, pro-liberty movement should ring alarm bells to anyone using the donation platform and, more broadly, any American wanting to protect their constitutional rights,” Attorney General Paxton said. “Many Texans donated to this worthy cause. I am acting to protect Texas consumers so that they know where their hard-earned money is going, rather than allowing GoFundMe to divert money to another cause without the consent of Texas citizens. I will get to the bottom of this deceitful action.” Mr Paxton was among several US conservatives who tweeted about the issue over the weekend. Senator Ted Cruz also sent a letter to the Federal Trade Commission on Sunday asking for an investigation into GoFundMe’s practices. On Monday, Canadian ministers hit back. Marco Mendicino, Canada’s public safety minister, said: “It is certainly not the concern of the Texas attorney general as to how we in Canada go about our daily lives in accordance with the rule of law.” “We need to be vigilant about potential foreign interference. … Whatever statements may have been made by some foreign official are neither here nor there,” Mr Mendicino said during a news briefing. Canada’s emergency preparedness minister, Bill Blair, also said: “We’re all entitled to an opinion, and in my opinion, [Paxton] is wrong .” White House: ‘Blockade poses a risk to supply chains' 19:45 , Oliver O'Connell White House Press Secretary Jen Psaki says that the blockade poses a risk to supply chains for the auto industry because the bridge is such a key conduit for them. She also says they are tracking possible impacts on agricultural exports from Michigan into Canada. Ms Psaki says that a number of steps have been proactively taken working with Canadian counterparts to direct traffic through alternative routes such as the Blue Water Bridge. She acknowledges that while there are lengthy delays, some truck and transports are getting through. Passenger traffic of cross-border workers is being rerouted to the Detroit-Windsor tunnel that remains open. She concludes her remarks on the topic by saying that President Joe Biden is very focussed on alleviating the impact of the protest. Psaki: The blockade poses a risk to supply chains for the auto industry because the bridge is a key conduit.. We are also tracking potential disruptions to US agricultural exports… pic.twitter.com/hTAmUKOtSO — Acyn (@Acyn) February 9, 2022 Protestors will stay at Ambassador Bridge until mandates lifted 19:33 , Oliver O'Connell CBC’s Chris Ensing is reporting from Windsor, Ontario, and has spoken with protestors blockading the Ambassador Bridge to Michigan. They tell him they will not leave until all mandates are lifted, by which they mean mask mandates, vaccine passports, and vaccine requirements for employers. By mandates - they’ve told me they mean mask mandates, vaccine passports, and mandates that require employers to be vaccinated to work. pic.twitter.com/13sBjorWeI — Chris Ensing (@ChrisEnsingCBC) February 9, 2022 Ontario to keep vaccine passport and masking requirements 19:15 , Oliver O'Connell While other provinces have begun phased endings of Covid-19 restrictions as the Omicron variant wave passes, Ontario Health Minister Christine Elliot says that there are no plans to drop vaccine passport or masking requirements. My colleague @brianlilley just pushed back on this, and Elliott said: “We are willing to change if necessary... we are not telling the people of Ontario this is going to remain in place forever.” Yet she refused to offer any timelines. — Anthony Furey (@anthonyfurey) February 9, 2022 Toronto police close off park over possibility of another convoy 18:50 , Oliver O'Connell Toronto Police Operations tweeted: “In response to several social media posts announcing a possible demonstration involving a large number of vehicles, we are taking steps to limit impact on our roads/residents.” 2/2 Keeping emergency routes clear and protecting key infrastructure is a priority for officers. An increased uniform presence and additional closures can be expected over the coming days. Please avoid the area unless absolutely necessary. — Toronto Police Operations (@TPSOperations) February 9, 2022 Police crack down on open fires 18:30 , Oliver O'Connell Police are now appearing to be crack down on open fires in the streets. Annie Bergeron-Oliver of CTV saw officers tell a group on Wellington Street that they can’t have their open, wood burning fire pit going anymore. Police now appear to be cracking down on open fires in the streets. Officers just told a group at Wellington that they can’t have their open, wood burning fire pit going anymore. — Annie Bergeron-Oliver (@AnnieClaireBO) February 9, 2022 Bitcoin gurus throw lifeline to trucker protestors 18:10 , Oliver O'Connell Following the decision by GoFundMe to remove the donation campaign for the Canada “Freedom Convoy” trucker protest from its site, a group of Canadian libertarian bitcoin evangelists have thrown the group a lifeline. Bitcoin evangelists throw Canadian trucker protest donation lifeline Police filmed ‘aggressively’ arresting great-grandfather for honking at protestors 17:44 , Oliver O'Connell A 78-year-old man was cuffed and arrested in Ottawa on Sunday after honking his horn in support of the “Freedom Convoy” protest. The arrest was caught on camera by a passerby in the area. The man, identified as double-vaccinated 4ft 10 inches tall Gerry Charlebois by the Toronto Sun , was initially pulled over by police , and questioned. Jade Bremner reports. Ottawa police filmed arresting great-grandfather after he honked at protest Convoy staying put in Ottawa despite TikTok claim 17:22 , Oliver O'Connell After convoy organiser Chris Barber’s TikTok last night saying they would leave for Toronto today, there was confusion as to whether or not he was serious. The Toronto Star ’s Alex Ballingall asked Mr Barber if the protestors would actually be leaving the Canadian capital today. He adds: Cops messed with us. We just playing back. Their plan is still to stay until restrictions lifted. — Alex Ballingall (@aballinga) February 9, 2022 He responded: “No, it’s a game,” and added: “Cops messed with us. We just playing back.” They plan to stay in Ottawa until Covid-19 restrictions are lifted. Well the so called protest leader told the Toronto star he was joking! “a game to mess with police” so They’re not going anywhere despite his TikTok video claiming they’re heading to Toronto today. No comment 🙄 — Leslie Roberts 🇨🇦🏳️🌈 (@MrLeslieRoberts) February 9, 2022 Transport minister proposes regulatory fines for truck drivers 17:10 , Oliver O'Connell Transport Minister Omar Alghabra has proposed to his Ontario counterpart that the province impose provincial regulatory fines on drivers of commercial vehicles involved in the pandemic protests: “These types of infractions can carry serious financial consequences.” Transport Minister Omar Alghabra has proposed to his Ontario counterpart that the province impose provincial regulatory fines on drivers of commercial vehicles involved in the pandemic protests: "These types of infractions can carry serious financial consequences" pic.twitter.com/wpDLSNjm1f — Power & Politics (@PnPCBC) February 8, 2022 Former conservative leader gives thumbs up to protestors 16:50 , Oliver O'Connell Andrew Scheer, former leader of the Conservatives, stopped to talk to protestors on the street near parliament on Wednesday and gave them a thumbs up. Before walking into West Block today former Conservative leader Andrew Scheer stopped to talk to protesters on Wellington Street and gave them a thumbs up. pic.twitter.com/R82UOkvhCR — Annie Bergeron-Oliver (@AnnieClaireBO) February 9, 2022 The Saskatchewan MP was previously seen in a picture taken on 2 February with a number of other lawmakers standing with the province’s flag at the Freedom Convoy protest. Ottawa Mayor Jim Watson has demanded an apology saying that the lawmaker “should know better” given the problems the protestors are causing the city. Bridge blockade could quickly become economic problem 16:30 , Oliver O'Connell The blockade of the Ambassador Bridge between Windsor, Ontario, and Detroit, Michigan, could swiftly become an economic problem for businesses and consumers, experts tell CBC . Handling approximately a quarter of trade between the US and Canada, ususally some $300m worth of goods would pass over it daily — for context, about as much as Canada trades with South Korea and Brazil in a month. Most importantly is the supply of auto parts adding to supply chain woes that have gripped the world as a result of the pandemic as “just-in-time” production and supply has been disrupted. Perrin Beatty, president of the Canadian Chamber of Commerce, told CBC that supply of auto parts is only part of the problem. Everything from food to medical supplies moves along that bridge every day, which is why "the consequences both for Canadian families and for Canadian business are enormous," he said. Supply chains are stretched as it is, and the situation in Windsor will do nothing to ameliorate that, he added. "To do this and take down the most important commercial crossing in North America can only exacerbate that problem." Protestors move to new camp near Carleton University 16:00 , Oliver O'Connell If there is any movement by protestors, so far it is to relocate within Ottawa. CBC’s Judy Trinh reports that police shut down the Confederation Park Protest Camp, which was 500 metres from Parliament. However, a new camp is being formed by the former Communications Security Establishment HQ, walking distance from Carleton University. It would appear this new protest camp that’s being built was permitted by Ottawa Police. Councillors aren’t happy. https://t.co/VDsfrWOegU — Judy Trinh (@judyatrinh) February 9, 2022 She notes that this pushes the perimeter out of the core of the city but closer to the main road to Ottawa International Airport. Police appear to have permitted the new camp, but local councillors are not happy. While appearing sparsely populated on Wednesday morning, Luke LeBrun of Press Progress notes that some of the vehicles have moved there from Confederation Park. It appears convoy leaders are now building another base camp south of Carleton University in the parking lot of the Edward Drake Building, originally the headquarters of the CBC. Some of these vehicles were previously seen at Confederation Park. https://t.co/vaQxe5LB3E #ottnews pic.twitter.com/dkEq3KRbcC — Luke LeBrun (@_llebrun) February 9, 2022 Day 13 - all quiet so far 15:40 , Oliver O'Connell “No horns, few people around at 9:15am, strong smell of fuel.” Day 13 of the “Freedom Convoy” in downtown Ottawa. No horns, few people around at 9:15, strong smell of fuel. #ottnews https://t.co/xeQNDAUVcP pic.twitter.com/tqwfTVy1BN — Josh Pringle (@PringleJosh) February 9, 2022 Confusion over whether trucker protest will head to Toronto 15:20 , Oliver O'Connell Last night protest co-organiser Chris Barber posted a TikTok saying that the truckers will be leaving today because of increased police activity in Ottawa and heading to Toronto to continue the protest there. Mr Barber says in the video: “I don’t think Toronto has had quite enough entertainment over this, and Ottawa’s getting a bit sticky on their law enforcement.” Responding to the claims, former Chief of the Ottawa Police Service Charles Bourdelau told CTV: “I will believe it when I see it.” “I will believe it when I see it” that’s what former Ottawa Chief @ChiefBordeleau tells @CTVOttMornLive about claims from A protest organizer on TikTok they’re pulling out and heading for Toronto today. Adding police likely working to confirm and come up with an exit route if so — Leslie Roberts 🇨🇦🏳️🌈 (@MrLeslieRoberts) February 9, 2022 He added that police will be working to come up with an exit route if it is true. Glen McGregor of CTV notes that it could be a joke and that Mr Barber is just one of the organisers and they are not all of like mind and their influence over the protestors is not absolute. Also, even if "the top brass" decided to decamp, their influence on the protesters is not absolute. There are factions within the group and among the power mist of their organizers. But we'll see. https://t.co/yNcp8Jpnma — Glen McGregor (@glen_mcgregor) February 9, 2022 HonkHonkHodl: the group throwing a bitcoin donation lifeline to the truckers 15:05 , Oliver O'Connell Following the decision by GoFundMe to return donations made to the trucker convoy, protestors have been thrown a donation lifeline by a group of Canadian libertarian bitcoin evangelists going by the name “HonkHonkHodl”. Fortune reports: On Twitter, the group described themselves as an initiative to “orange pill Canadian truckers.” The term is a play on the red pill and blue pill concept from the 1999 movie The Matrix—“red-pilling” in recent years has also been adopted by alt-right communities who claim to know the “real” truth about society. Taking the “orange pill” refers to people who buy Bitcoin, which evangelists say represents financial freedom and monetary sovereignty. “HonkHonkHodl” is a group of four—Greg Booth, Jeff Foss, and two men who go by online pseudonyms “Nobody Cariboo” and “BTC Sessions,” according to Canadian publication The Toronto Star —who created a crypto crowdfunding campaign on the platform Tallycoin as an alternative funding portal for the “Freedom Convoy.” “Legacy financial infrastructure…can be politicized and clamped down upon,” the group wrote on their Tallycoin fundraising page. “Bitcoin is truly censorship-resistant. Don’t allow your voices to be silenced.” As of Wednesday morning, the group had raised the equivalent of US $648,676. Windsor police seeking additional officers as bridge blockade enters third day 14:45 , Oliver O'Connell CBC Windsor reports from the Ontario border city: On Wednesday morning, a few dozen vehicles lined Huron Church Road, which is the main artery feeding traffic to the international crossing. Windsor police have maintained one side-street entrance, allowing the trickle of some traffic onto the bridge from Wyandotte Street. Traffic is completely blocked for those exiting the bridge and entering Canada from Michigan. Jason Bellaire, deputy chief of operations for the Windsor police, told the outlet that officers are focused on keeping the safety of everyone involved, but acknowledged the public would like to see the police “do more”. “The dialogue between the officers and the protesters on the scene has been for the most part cordial,” Mr Bellaire told CBC. “The difficulty is in a democratic society people have the right to protest and we respect that public protest.” Police have asked for 100 additional officers which Mr Bellaire explained will help relieve those officers currently working. They have also asked for vehicles and and intelligence support to help police identify individuals who are protesting in Windsor from elsewhere. Four hour delays on Canada-US crossing 14:20 , Oliver O'Connell An image from the Blue Water Bridge crossing between Canada and the United States last night shows a long line of vehicles amid anti-Covid mandate blockades. Reports suggest the delay is about four hours for those travelling through the border crossing, which has seen a rise in traffic following ‘freedom convoy’ demonstrations at the Coutts and Ambassador Bridge crossings. The latter accounts for about 25 per cent of the trade between Canada and the US. This is the I 94/I 69 interchange in Port Huron. Traffic on I 94 is backed up to I 69. I 69 EB is backed up to Wadhams Road. Delays of more than 4 hours now to cross the Blue Water Bridge from the US to Canada. Traffic and Weather on the 8's on WWJ Newsradio 950. AM 950. @WWJ950 pic.twitter.com/IlN6odecsa — Dennis Neubacher (@DNeubacher950) February 9, 2022 Nine in ten say truckers should go home 13:55 , Gino Spocchia Nearly 90 per cent of Canadians believe the ‘freedom convoy’ protesters should go home and have had a chance to make their voices heard, a new poll has found. As many as 87 per cent of those polled by Ottawa-based polling firm Abacus Data and CTV News said the truckers have “had an an opportunity to make their point and should leave town”. Roughly two-thirds of respondents said they were opposed to the convoy, and 47 per cent said they strongly opposed the protest, which stretches into a thirteenth day on Wednesday. About 20 per cent of Ottawa’s residents said they supported the demonstrations, with conservative more likely to do so, according to the poll. Updates on traffic situation in Ottawa 13:30 , Gino Spocchia As the ‘freedom convoy’ in downtown Ottawa continues on Wednesday, city officials have advised residents that many roads and essential services will remain closed. That includes the city hall and main public libraries, as well as a number of vaccination centres. As are residents advised to travel only if necessary, and buses are on diversions. Some traffic and service impacts will continue tomorrow, February 9 due to the demonstrations in the downtown core. For details on impacted services: https://t.co/tjbo6Hg62R pic.twitter.com/yJ0dSDAvHn — City of Ottawa (@ottawacity) February 8, 2022 Reminder: What crimes are alleged among truckers? 13:05 , Gino Spocchia Ottawa Police have arrested 23 people and opened 85 criminal investigations into “freedom convoy” truckers on allegations including hate crimes. Those have reportedly included an in individual who urinated on the National War Memorial, and another who appeared to dance on the Tomb of the Unknown Soldier. Reports from the initial days of the protest said some truckers carried signs and flags with swastikas – which Canada’s prime minister Justin Trudeau again attacked in a speech on Monday. The furore around the flying of the swastika caused the Canadian Centre for Israel and Jewish Affairs to condemn the demonstrators with the following message last week: 1/5 “24 hours after International Holocaust Remembrance Day and on The National Day of... Action against Islamophobia, there are #Nazi flags being flown in public, in Canada, on #Parliament Hill. This should be horrifying to #Canadians ." Full statement: https://t.co/5C6scLz7eE — CIJA (@CIJAinfo) January 30, 2022 Saskatchewan drops Covid restrictions 12:40 , Gino Spocchia The conservative premier of Canada’s Saskatchewan province waded into the debate around Covid vaccine mandates and demonstrations across the country by calling for healing. Scott More said on Tuesday that“the benefits of providing proof of vaccination to enter businesses such as restaurants no longer outweigh the cost, and that doing so had created deep divisions in the province. “I suspect other provinces will do something similar in the next while. I would ask the federal government as well on behalf of all Canadians to continue to revisit the orders that they have in place,” Mr Moe said of the Covid restrictions, which he is lifting. “We are incumbent to remove them when they have run their course.” Truckers who have occupied Ottawa and US border crossings for around 12 days began the ‘freedom convoy’ demonstration in opposition to a vaccine mandate requirement for HGV drivers travelling to and from Canada. It's time to heal the divisions over vaccination in our families, in our communities and in our province. Today, we announced the end of the proof of vaccination/negative test policy effective February 14, 2022 at 12:01 a.m. pic.twitter.com/dvLuY9viHr — Scott Moe (@PremierScottMoe) February 8, 2022 India asks citizens to remain alert in Ottawa 12:15 , Gino Spocchia The Indian embassy in Ottawa issued this advisory for its citizens in the Canadian capital as protests against Covid mandates stretched into a second week. Indian citizens were told to remain alert, be prepared to follow sudden curfews, and to avoid areas where demonstrations are taking place. The advisory also told Indians in Canada they should comply with the instructions of local law enfocrement. While the size of both the ‘freedom convoys’ at the US-Canada border and in downtown Ottawa have fallen, they remain significant in size and are likely to continue causing gridlock for days. Breaking: Indian High commission in Ottawa issues advisory for Indians to exercise high degree of caution in the backdrop of massive protests in Canada by trucker pic.twitter.com/DZx2TGAsoi — Sidhant Sibal (@sidhant) February 8, 2022 Lawmakers worried by impact on cross-border trade 11:50 , Gino Spocchia Canadian lawmakers expressed increasing worry on Tuesday about the economic impact of a blockade of the US-Canada border. Ontario’s premier Doug Ford called the Ambassador Bridge between Detroit and Windsor, Ontario, a “vital trade artery” and said blockades would have adverse affects. “Such blockades will have serious implications on our economy and our supply chain,” Canadian transport minister Omar Alghabra said in Ottawa the capital. “I’ve already heard from automakers and food grocers. This is really a serious cause for concern.” The Ambassador Bridge alone carries 25 per cent of trade between the two countries. Another crossing in Coutts, Alberta, has also seen a group of protesters allow traffic to pass intermittently. Canada's COVID-19 protests threaten border trade with US Court granted ‘honking injunction’ against convoy 11:25 , Gino Spocchia On Monday, a court granted an injunction preventing truckers participating in the ongoing “freedom convoy” from honking as a part of their protest in Ottawa. Truckers have also been blocking the US-Canada highway for around 12 days in protest against the Trudeau government’s vaccine mandate that requires all truckers entering Canada to be vaccinated to avoid quarantine. Residents in downtown Ottawa, which has been gridlocked by the protests for almost two weeks, have opposed the blaring horns. Police have started making arrests following the court injuction. Court grants ‘honking injunction’ against ‘Freedom Convoy’ Concerns around children taking part in convoy 11:00 , Gino Spocchia The ‘freedom convoy’ in Downtown Ottawa has raised concerns about children that are taking part in the occupation of the Canadian capital. Ottawa’s police department said in an update on Tuesday afternoon that “Investigative Units estimate that approximately 25 per cent of heavy vehicles are currently being used to house families with children.” “We are consulting with Children’s Aid Society to ensure the safety of these children remains a top priority,” the police department added of the 500 or so vehicles thought to be blocking streets. Many protesters have refused to go home despite a court injuction and ongoing police response, as well as condemnation from Justin Trudeau, the prime minister. Police continue to respond to protesters 10:35 , Gino Spocchia Ottawa’s police department released some details about the 85 criminal investigations against those taking part in the city’s demonstration against Covid mandates. As many as 23 people have been arrested for various crimes and more than 1,300 people have been issued tickets following a court injuction banning honking for 10 days from Monday. Protesters have also been accused of breaching probation, resisting police and driving disqualified – along with about a dozen other felonies. The department asked the protesters to go home in its press release , updated on Tuesday. NEW: Enforcement of Court Order in Downtown Core https://t.co/DWDXOlTpwX Nouveau : Mise en application d’une ordonnance judiciaire au centre-ville https://t.co/PjXbNFtBbA #Ottnews #Ottnouvelles pic.twitter.com/1PCLjHnJ1y — Ottawa Police (@OttawaPolice) February 8, 2022 Concern over presence of children in trucks 09:34 , Alisha Rahaman Sarkar The Ottawa police said that the discovery of children in about 100 of the 419 trucks lining downtown streets is complicating their bid to end the protest. Deputy chief Steve Bell on Tuesday said the police have asked for help from the Children’s Aid Society to ensure the safety of truckers’ children “who could be at risk during a police operation”, Toronto star reported. He added there were concerns about the children being affected by carbon monoxide and diesel fumes, noise levels, the cold, and the lack of sanitation. India issues advisory, asks citizens to remain alert 08:15 , Alisha Rahaman Sarkar India has advised its citizens living in Canada and those visiting the country to exercise a ‘high degree of caution’ and avoid areas where demonstrations are taking place. The advisory issued by the High Commission of India on Tuesday stated: “In view of the ongoing situation, Indian citizens in Canada and those planning to visit Canada are hereby advised to exercise a high degree of caution and remain alert, avoid areas where demonstrations and large gatherings are taking place, such as downtown Ottawa, follow the instructions of local authorities, including curfews and monitor local media for information on ongoing demonstrations and the evolving situation”. The High Commission in Ottawa has also set up an emergency helpline (+1) 6137443751 to provide assistance and guidance to Indian citizens in distress. Nearly two dozen protesters arrested 07:17 , Alisha Rahaman Sarkar Ottawa police on Tuesday announced that at least 23 people were arrested in relation to the “unlawful demonstrations” on the Canada-US border. Police have also opened nearly 80 criminal investigations related to the protests. Ottawa deputy police chief Steve Bell said that they have immobilised several heavy vehicles taking part in the blockade at the Ambassador Bridge. On a normal day around 8,000 trucks cross the bridge, with the route being responsible for about 27 per cent of trade between the United States and Canada. Towing companies refusing to move trucks 04:45 , Oliver O'Connell Officials in Ottawa say towing companies contracted to work with the city are refusing to move vehicles that are part of the trucker convoy protest against Covid-19 vaccine mandates. “I’ve contacted them all and they’re all refusing, as of today, to provide heavy tow truck work,” city manager Steve Kanellakos told reporters on Monday evening after a six-hour council meeting. Hundreds of trucks are illegally parked in the streets of the Canadian capital and have now been there for approaching two weeks. Protesters say they will only leave their posts when vaccine mandates are lifted. It is also very difficult to tow a truck without the help of the driver. Earlier on Tuesday the police said some vehicles had removed their tires and blown their brakes to make them harder to move. “There are many layers of complexity to dismantling this occupation,” said Ottawa Police Service Deputy Chief Steve Bell. ‘This isn’t something the Biden administration can ignore’ 03:45 , Oliver O'Connell CNN reporter Paula Newton, speaking from Ottawa on the ongoing protest in Canada’s capital and the standstill on the busiest crossing between the US and Canada, says that the “Freedom Convoy” is not something the Biden administration can ignore. “The Ambassador Bridge between Detroit and Windsor is quite an escalation,” Ms Newton told anchor Kate Bolduan. “Look, I’ve been up and down these streets. I’ve spoken to them. They say they’re not going anywhere.” More than a quarter of cross-border trade between the US and Canada crosses the bridge - approximately $100bn of trade annually. The Trudeau government in Ottawa is framing the protest as the actions of a fringe group, but there is no clear path to end the crisis given the lack of any will to negotiate with the truckers by officials. “At this point, they are saying that, look, this is a fringe minority. And yet people here say that is not the case, that there is a significant minority,” said Ms Newton. “Kate, I will tell you this isn’t something the Biden administration can ignore, especially given those bridge crossings. There could be impacts on the supply chain between the United States and Canada.” 21-year-old silences trucker protest honking in downtown Ottawa 02:45 , Oliver O'Connell A 21-year-old resident of Ottawa ’s Centretown is being hailed for her role in silencing the constant blaring and honking of truck horns by the protest convoy. Zexi Li is the lead plaintiff in a proposed C$9.8m class-action lawsuit filed on behalf of local residents after the noise had gone on for more than a week, terrorising the community. “This situation, quite frankly, really ruffled my feathers,” Ms Li told CTV Morning Live on Tuesday. “I really, really felt that no matter what, I had to do something. Trucker protest convoy honking silenced by 21-year-old Ottawa woman’s lawsuit Trudeau demands end to trucker protest saying ‘people waving swastikas’ don’t represent Canada 01:45 , Oliver O'Connell Canadian Prime Minister Justin Trudeau has demanded an end to the continuing protest by hundreds of truckers against Covid-19 restrictions that has paralysed Ottawa for 12 days. “It has to stop,” Mr Trudeau said during an emergency debate in the House of Commons on Monday night following his return to parliament after isolating for a week due to a positive Covid-19 test. “People of Ottawa don’t deserve to be harassed in their own neighbourhoods, don’t deserve to be confronted with the inherent violence of a swastika flying on a street corner, or a confederate flag, or the insults and jeers just because they’re wearing a mask. That’s not who Canadians are,” the prime minister said. “These pandemic restrictions are not forever.” Trudeau demands end to trucker convoy protest denouncing swastika use 00:55 , Oliver O'Connell Lightbound to stay in Liberal caucus despite Trudeau disagreement 00:35 , Oliver O'Connell Quebec MP Joel Lightbound will stay in the Liberal caucus despite his disagreement with Prime Minister Justin Trudeau’s handling of the trucker protest and pandemic policies. Earlier on Tuesday he said at a press conference that he believes those concerned about Covid-19 policies have “legitimate concerns” and that these should be addressed. Joel Lightbound will stay in the Liberal caucus, despite disagreeing with PMJT's position on Covid mandates #cdnpoli https://t.co/r0aq9XujD6 https://t.co/j2fLho9as1 — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 He thinks political leaders are “unwilling to adapt” and have failed at explaining to Canadians the rationale for continued public health measures that he thinks are impacting mental health, dividing families, and causing some to become unemployed through their decision to not get vaccinated. Mr Lightbound wants a clear roadmap from federal and provincial governments showing how and when restrictions will be lifted. The Liberal MP also condemned some of the behaviour seen during the protests and added that he has also faced threats from “extreme right groups” during his time in office. He agrees with the federal government’s position that it’s time for the truckers to move along, does not agree with what he sees as Mr Trudeau’s generalisations about the concerns of those taking part in the protests. Mr Lightbound says he wants to remain a part of the Liberal Party and hopes that there is room for dissent and different opinions. He adds that he would support the government in a confidence vote. Group behind protest drops plan to replace Canadian government Tuesday 8 February 2022 23:45 , Oliver O'Connell Canada Unity, the group behind the truck convoy protest, has taken down its Memorandum of Understanding that outlined plans to replace Canada’s elected government. A statement reads: It has come to the attention of Canada Unity that the Memorandum Of Understanding (herein referred to as MOU) does not reflect the spirit and intent of the Freedom Convoy Movement 2022 We represent the voice of many Canadians who desire to have the Charter of Rights and Freedoms upheld. We are everyday Canadians, not lawyers or politicians. We are immediately withdrawing the MOU as we do not want any unintended interpretations to continue. Our sole desire with the MOU was to have a document where Canadians could peacefully express their displeasure with current C19 mandates, and express their desire to be free. Canada Unity does not support or encourage any acts which tarnish democratic values held by Canadians. NEW: Canada Unity, the group behind the convoy, have taken down its Memorandum of Understanding that outlined plans to replace Canada's elected government. https://t.co/rFCP3JjLVn This, after organizers said last night they want to form a coalition with the opposition. #cdnpoli https://t.co/iFellcpilI — Stephanie Ha (@stephanie_ha) February 8, 2022 To the over 320,000 original signatories of the MOU; we appreciate your support and will continue to peacefully demonstrate until the Charter of Rights and Freedoms is upheld. This document was created with the sole purpose of bringing the government of Canada and all Canadian citizens into agreement; that the Charter of Rights and Freedoms should be upheld for all Canada Unity firmly supports the constitution and democratic process. We remain committed to following lawful process and upholding freedom of choice. Last night, organisers said they wanted to form a coalition with the opposition. In pictures: Standstill at Ambassador Bridge Tuesday 8 February 2022 23:20 , Oliver O'Connell Vehicles block the route leading from the Ambassador Bridge, linking Detroit and Windsor, as truckers and their supporters continue to protest against Covid-19 vaccine mandates (REUTERS) (REUTERS) Quebec phasing out most pandemic restrictions Tuesday 8 February 2022 22:50 , Oliver O'Connell Quebec will phase out most pandemic restrictions by mid-March, Premier François Legault announced on Tuesday. “The population is fed up. I’m fed up. We’re all fed up,” he said. “But the reason we resisted [easing restrictions] until today was because there was too much risk.” “Right now, we can take a calculated risk and finally turn the page.” Capacity restrictions will be phased out, but mask and vaccine passport mandates will remain for now. In December the province instituted a mass shutdown due to the Omicron variant. Restrictions on household and restaurant gathering will be lifted on Saturday. Sports matches, gyms and spas will be allowed from Monday. On 21 February all retail businesses can open at full capacity and places of worship at 50 per cent capacity up to a maximum of 500 people. On 28 February working from home will no longer be mandatory, large venues can reopen at 50 per cent capacity, and sports tournaments can restart. Bars — which closed on 20 December — can reopen on 28 February at 50 per cent capacity, but singing and dancing are banned until 14 March at which point all capacity restrictions will also be lifted. There is no timeline yet for lifting mask and vaccine passport rules. ‘I’m pro-vaccine, but I’m anti-mandate' Tuesday 8 February 2022 22:23 , Oliver O'Connell Click on Detroit spoke with three truckers stuck in the jam to cross the border following the protest forming at the Ambassador Bridge between Michigan and Ontario. “Can’t get upset,” said one of the truckers. “I’m not the only guy stuck out here. Fortunately, I do have a sleeper cabin. I feel bad for those drivers that don’t have that option.” “It doesn’t make sense as they shouldn’t be blocking the borders or the roads,” said Canadian truck driver Nav Aulch. “I’m triple vaccinated, and I’m pro-vaccine, but I’m anti-mandate,” said Paul Leland. “It’s time that the mandates are over. It’s time that the people travel freely across the border on both sides.” He added: “I can understand people fighting for certain rights, but this is not going to solve anything.” Local media reports show trucks backed up for miles on alternate bridge Tuesday 8 February 2022 22:10 , Oliver O'Connell Local media in Michigan shows that on the US side of the Canadian border trucks are backing up for miles having been diverted away from the Ambassador Bridge to the alternative Blue Water Bridge in Port Huron. Traffic began backing up on Monday afternoon leaving thousands of truckers stranded on Detroit roads with nowhere to go, Click on Detroit reports. By Tuesday morning tailbacks extended to between five and seven miles. Matt Moroun, the chairman of the Detroit International Bridge Company, gave the following statement: “International commerce needs to resume. The Ambassador Bridge and the Moroun family sympathise with truck drivers and those caught up in this blockade. We recognise that truck drivers are essential workers that work hard to deliver necessities to all of us, and that the Canadian government has done a tremendous job with vaccine rates. The Ambassador Bridge has a solemn obligation to facilitate safe and efficient international trade and travel. We encourage the appropriate officials to take prompt action to alleviate the situation as quickly as possible in a manner that reflects mutual respect .” @newsGuy760 This was the line forming at the Marysville exit at 3pm headed for the Blue Water Bridge. 5 miles + pic.twitter.com/P1WqD9v5nY — Ritentune (@Ritentune) February 8, 2022 Saskatchewan to end Covid-19 public health order Tuesday 8 February 2022 22:00 , Oliver O'Connell The province of Saskatchewan will end all public health orders to mitigate the spread of Covid-19. Premier Scott Moe announced that the requirement to provide proof of vaccination or a negative Covid test at businesses, workplaces, and other public venues will end on 1 February. Mr Moe said: “Proof of vaccination has been an effective policy, but its effectiveness has run its course.” He added: “The benefits no longer outweigh the costs. It’s time to heal the divisions over vaccination in our families, in our communities and in our province. It’s time for proof of vaccination requirements to end.” Face masks will still be required in indoor public spaces until the end of the month. Mr Moe said the move was part of the shift towards living with Covid-19 and returning to normal life while retaining personal responsibility for self-monitoring, self-testing, and self-management. Windsor police maintaining communications with bridge blockade organisers Tuesday 8 February 2022 21:38 , Oliver O'Connell Police in Windsor, Ontario, have released a statement regarding the truck protest limiting access to the Ambassador Bridge to Detroit, Michigan. The Windsor Police respects the rights of Canadians to exercise their freedom of expression and peacefully assembly. All members of the general public, road users, residents, businesses and international travelers also have the right to a safe environment. With that, we recognise the need to balance individual rights and freedoms with the need to maintain public peace and order. This is why our focus is on maintaining open communications with organizers of the demonstrations and using a reasoned, tempered approach, including the appropriate use of police discretion to guide our police personnel’s responses. The Windsor Police Service has a large police presence monitoring the demonstrations along Huron Church Road. These activities have interrupted normal vehicle traffic flow but we have been able to continue a limited amount of access to the Ambassador Bridge. Officers are on scene addressing traffic points, public safety and enforcement. Commercial vehicles are being redirected to the Blue Water Bridge in Sarnia. The Detroit-Windsor Tunnel remains open to non-commercial vehicles. Please avoid the area, use alternative routes and monitor our social media for updates. The Windsor Police Service has maintained communications with main organizers but we want to urge those involved in illegal activity not to endanger members of the public or first responders, including police personnel, and jeopardize public peace. Those found committing crimes and acts of violence will be investigated and charges will be laid. This includes enforcement of traffic related offences and investigating any criminal acts. This also includes police personnel considering waiting for a lower-risk opportunity to arrest offenders rather than inflame a situation. Chief Mizuno states: “We understand the concerns of our citizens and we share those concerns. We want to reassure the public that we continue to actively engage with and monitor these demonstrations. We will maintain the peace and public/ traffic safety.” The Windsor Police Service would like to thank the public for their patience during this disruption.â Tuesday 8 February 2022 21:22 , Oliver O'Connell Asked today about Prime Minister Justin Trudeau’s assessment of the protesters blockading Canada’s economy and democracy, the White House creates some distance, says CNN’s Kevin Liptak. “That’s not how we’ve described it,” White House Press Secretary Jen Psaki says. Asked today about Trudeau's assessment of the protesters blockading Canada's economy and democracy, the White House creates some distance: “That’s not how we’ve described it," Psaki says https://t.co/mC96FoxPdF — Kevin Liptak (@Kevinliptakcnn) February 8, 2022 Trudeau speaking with Ottawa mayor Tuesday 8 February 2022 21:02 , Oliver O'Connell Prime Minister Justin Trudeau will speak with Ottawa mayor Jim Watson this afternoon about the ongoing protest occupying the capital. Prime Minister @JustinTrudeau says he will be speaking to Mayor @JimWatsonOttawa later this afternoon about the ongoing state of occupation in the capital. #OttawaOccupation — Leslie Roberts 🇨🇦🏳️🌈 (@MrLeslieRoberts) February 8, 2022 ‘This isn’t something the Biden administration can ignore’ Tuesday 8 February 2022 20:33 , Oliver O'Connell CNN reporter Paula Newton, speaking from Ottawa on the ongoing protest in Canada’s capital and the standstill on the busiest crossing between the US and Canada, says that the “Freedom Convoy” is not something the Biden administration can ignore. “The Ambassador Bridge between Detroit and Windsor is quite an escalation,” Ms Newton told anchor Kate Bolduan. “Look, I’ve been up and down these streets. I’ve spoken to them. They say they’re not going anywhere.” More than a quarter of cross-border trade between the US and Canada crosses the bridge - approximately $100bn of trade annually. The Trudeau government in Ottawa is framing the protest as the actions of a fringe group, but there is no clear path to end the crisis given the lack of any will to negotiate with the truckers by officials. “At this point, they are saying that, look, this is a fringe minority. And yet people here say that is not the case, that there is a significant minority,” said Ms Newton. “Kate, I will tell you this isn’t something the Biden administration can ignore, especially given those bridge crossings. There could be impacts on the supply chain between the United States and Canada.” BRIDGE CLOSED: Due to trucker protest in Windsor, Ontario the Ambassador Bridge is now closed. Story: https://t.co/khXgib6bnH pic.twitter.com/IgmvFzzBb5 — Mid-Michigan NOW (@midmichigannow) February 8, 2022 Trudeau: 'We’re all sick and tired of restrictions, of mandates’ Tuesday 8 February 2022 20:15 , Oliver O'Connell Prime Minister Justin Trudeau reiterates remarks he made in parliament on Monday evening: “We’re all sick and tired of restrictions, of mandates, of having to make sacrifices … it’s been two years and it’s really, really tiring for all of us.” Trudeau reiterates the points he made last night in the house on the way to QP "We’re all sick and tired of restrictions, of mandates, of having to make sacrifices … it’s been two years and it’s really, really tiring for all of us" #cdnpoli https://t.co/RUQsffHlBV pic.twitter.com/1VyXSrbF3v — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 Trucks backed up at border as bridge blockade jams US-Canada trade Tuesday 8 February 2022 20:00 , Oliver O'Connell On Tuesday morning one lane of traffic reopened on the Ambassador Bridge linking Detroit, Michigan, with Windsor, Ontario, but the surrounding roads are clogged with trucks whose drivers are protesting Canada’s vaccine mandate. Reporting from Windsor, Ontario. This is is the backup on the Canadian side trying to cross the Ambassador Bridge into Detroit. The truckers’ protest has everything at a standstill. @globalnewsto @GlobalNational pic.twitter.com/ZETZjtHMl1 — 𝚂𝚎á𝚗 𝙾’𝚂𝚑𝚎𝚊 Global News (@ConsumerSOS) February 8, 2022 Towing companies refusing to move trucks Tuesday 8 February 2022 19:45 , Oliver O'Connell Officials in Ottawa say towing companies contracted to work with the city are refusing to move vehicles that are part of the trucker convoy protest against Covid-19 vaccine mandates. “I’ve contacted them all and they’re all refusing, as of today, to provide heavy tow truck work,” city manager Steve Kanellakos told reporters on Monday evening after a six-hour council meeting. Hundreds of trucks are illegally parked in the streets of the Canadian capital and have now been there for approaching two weeks. Protesters say they will only leave their posts when vaccine mandates are lifted. It is also very difficult to tow a truck without the help of the driver. Earlier on Tuesday the police said some vehicles had removed their tires and blown their brakes to make them harder to move. “There are many layers of complexity to dismantling this occupation,” said Ottawa Police Service Deputy Chief Steve Bell. Ottawa Police Service holds briefing Tuesday 8 February 2022 19:30 , Oliver O'Connell Deputy Chief Steve Bell held a Zoom press conference over lunchtime in which he said that the police service is working to brief every officer on the terms of the court order regarding horns and their role in enforcement. Mr Bell revealed that Ottawa and Ohio police worked together and laid a charge against an individual who was “calling in fake threats designed to deceive and distract emergency resources”. The deputy chief says that yesterday when the police were attempting to take fuel from a group of convoy protestors, some officers were swarmed by other demonstrators. A criminal investigation is now underway. Mr Bell adds that there have been no serious injuries to police officers up to this point. Any altercations have been minor and the police have continued to be able to work. He says that it is a challenge for police to stop and conduct searches, and seize gas cans if a large number of protesters are filling them with water. Bell says there have been no serious injuries to police officers up to this point. Any altercations up to this point have been minor and the police have continued to be able to work #cdnpoli #ottnews — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 “It identifies a level of sophistication ... and ability to subvert police efforts ... That is concerning to us,” says the deputy chief, maintaining that it is important to cut off fuel into the area, but noting that there are many ways the flow of fuel is coming in. He adds that the 1,800 officers requested by the city will help improve this operation. Asked about moving some of the vehicles, Mr Bell says that some have taken off their tires, or blown their brakes to make them harder to move. Deputy Chief Bell says some vehicles have taken off their tires, or blown their breaks to make the vehicles harder to move. "There are many layers of complexity to dismantling this occupation" — Annie Bergeron-Oliver (@AnnieClaireBO) February 8, 2022 “There are many layers of complexity to dismantling this occupation,” he says. Mr Bell says almost 25 per cent of the 418 trucks present in the city have children staying in them with their parents, “who could be at risk during a police investigation”. He says that the Children’s Aid Society is involved to deal with kids who are staying with their parents at the protest. Music and police presence at protest near Parliament Hill Tuesday 8 February 2022 19:10 , Oliver O'Connell Day 12 of the Freedom Convoy outside of Parliament Hill #ottnews pic.twitter.com/zrDv8u1brx — Josh Pringle (@PringleJosh) February 8, 2022 ICYMI: Trudeau ignores question about military Tuesday 8 February 2022 18:50 , Oliver O'Connell Last night after the emergency House of Commons debate on the trucker protest. Prime Minister Trudeau ignored a question about the possibility of bringing in the military. He has previously said a military response is not in the cards. On the way out of the emergency debate, I asked Trudeau if he was willing to call in the military. No answer. #cdnpoli #ottnews pic.twitter.com/6sqqRZn5EO — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 The 21-year-old woman who silenced the trucker protest honking in downtown Ottawa Tuesday 8 February 2022 18:32 , Oliver O'Connell A 21-year-old resident of Ottawa ’s Centretown is being hailed for her role in silencing the constant blaring and honking of truck horns by the protest convoy. Zexi Li is the lead plaintiff in a proposed C$9.8m class action lawsuit filed on behalf of local residents after the noise had gone on for more than a week, terrorising the community. “This situation, quite frankly, really ruffled my feathers,” Ms Li told CTV Morning Live on Tuesday. “I really, really felt that no matter what, I had to do something. Trucker protest convoy honking silenced by 21-year-old Ottawa woman’s lawsuit How’s the air horn ban going? Tuesday 8 February 2022 18:15 , Oliver O'Connell An individual is walking down Kent Street blowing a horn. #ottnews pic.twitter.com/RBrcdvF75b — Josh Pringle (@PringleJosh) February 8, 2022 Violators of the court-ordered injunction against the honking of horns could face stiff penalties. Protestors drink from jerry cans to confuse fuel ban enforcement Tuesday 8 February 2022 17:55 , Oliver O'Connell Proof protesters adapting to enforcement, as said by @OPSChiefSloly to @ctvottawa . Our CTV crew captured this demonstrator drinking water from a jerry can outside West Block. #ottnews #cdnpoli #OttawaOccupied pic.twitter.com/T9DPkXudrB — Stephanie Ha (@stephanie_ha) February 8, 2022 Trudeau demands end to trucker protest says ‘people waving swastikas’ don’t represent Canada Tuesday 8 February 2022 17:35 , Oliver O'Connell Canadian Prime Minister Justin Trudeau has demanded an end to the continuing protest by hundreds of truckers against Covid-19 restrictions that has paralysed Ottawa for 12 days. “It has to stop,” Mr Trudeau said during an emergency debate in the House of Commons on Monday night following his return to parliament after isolating for a week due to a positive Covid-19 test. “This pandemic has sucked for all Canadians,” he said. “Everyone’s tired of Covid, but these protests are not the way to get through it.” Trudeau demands end to trucker convoy protest denouncing swastika use Tuesday 8 February 2022 17:01 , Oliver O'Connell This crane parked in front of the Hill and the PMO, had been fully extended with a weighted ball and hook and a Canadian flag close to the PMO for pretty much the whole time the convoy has been here. It’s now been substantially lowered #cdnpoli #ottnews pic.twitter.com/fO3jfTpH2H — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 Liberal MP speaks out against Trudeau pandemic policies and handling of trucker protests Tuesday 8 February 2022 16:44 , Oliver O'Connell A Liberal MP has spoken out against Prime Minister Justin Trudeau’s pandemic policies and how the ongoing trucker convoy protest is being handled. Joel Lightbound, the Louis-Hébert, Quebec, MP, spoke at a press conference on Parliament Hill on Tuesday morning saying that he believes those concerned about Covid-19 policies have “legitimate concerns” and that these should be addressed. He thinks political leaders are “unwilling to adapt” and have failed at explaining to Canadians the rationale for continued public health measures that he thinks are impacting mental health, dividing families, and causing some to become unemployed through their decision to not get vaccinated. Mr Lightbound wants a clear roadmap from federal and provincial governments showing how and when restrictions will be lifted. Here are Lightbound’s suggestions - Clear targets for when covid measures should be lifted - Lift the trucker mandate - Publish scientific rational for mandates - increase Canada health transfer - stop dividing Canadians — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 The Liberal MP also condemned some of the behaviour seen during the protests and added that he has also faced threats from “extreme right groups” during his time in office. He agrees with the federal government’s position that it’s time for the truckers to move along, does not agree with what he sees as Mr Trudeau’s generalisations about the concerns of those taking part in the protests. Mr Lightbound says he wants to remain a part of the Liberal Party and hopes that there is room for dissent and different opinions. He adds that he would support the government in a confidence vote. Demonstrations still clogging Ambassador Bridge Tuesday 8 February 2022 16:20 , Oliver O'Connell Supporters of the trucker convoy protest continue to delay traffic at the Ambassador Bridge, the busiest border crossing between the US and Canada. Traffic at the Ambassador Bridge remains at a stand still with protesters holding their ground @CTVWindsor pic.twitter.com/G2WR3chSbP — Sijia Liu (@SijiaLiuCTV) February 8, 2022 While the bridge is accessible from some entrances, according to police in Windsor, Ontario, there are huge delays and the public have been advised to avoid the area until traffic is flowing smoothly once again. U.S. bound is open at the Ambassador Bridge and can be accessed from the Wyandotte St. West entrance. dg 12833. — Windsor Police (@WindsorPolice) February 8, 2022 ‘This pandemic has sucked' Tuesday 8 February 2022 16:05 , Oliver O'Connell During last night’s emergency debate on the trucker convoy, Prime Minister Justin Trudeau correctly noted that “this pandemic has sucked”. NEW: @JustinTrudeau during emergency debate on trucker convoy: 'This pandemic has sucked.' #cdnpoli #ottnews Read more: https://t.co/9wOkLBEUAh pic.twitter.com/On9Vd92D7l — Stephanie Ha (@stephanie_ha) February 8, 2022 Is the honking ban working? Tuesday 8 February 2022 15:50 , Oliver O'Connell CTV’s Mackenzie Gray says all is quiet in Ottawa, both last night and this morning. It is dead on Wellington right now. Not a honk can be heard and only a few people wandering around #cdnpoli #ottnews pic.twitter.com/CgKKhIVvOq — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 Outside of what sounds like a single truck revving their engine, all is quiet on Wellington #cdnpoli #ottnews pic.twitter.com/fXZiWm2Jf2 — Mackenzie Gray (@Gray_Mackenzie) February 8, 2022 Canadian officials slam interference of GOP Tuesday 8 February 2022 15:30 , Oliver O'Connell Many members of the US Republican Party have made comments supporting the trucker demonstrations, including former President Donald Trump, who called Trudeau a “far left lunatic” who has “destroyed Canada with insane Covid mandates.” Prominent member of the GOP including Florida Governor Ron DeSantis and Texas Attorney General Ken Paxton complained after crowdfunding site GoFundMe said it would refund the vast majority of the millions of dollars raised by demonstrators. The site said it cut off funding for protest organisers after determining that their efforts violated the site’s terms of service by engaging in unlawful activity. Ontario Provincial Premier Doug Ford has called the protest an occupation. In response, Mr Paxton tweeted: “Patriotic Texans donated to Canadian truckers’ worthy cause.” Texas Senator Ted Cruz said on Fox News that “government doesn’t have the right to force you to comply to their arbitrary mandates”. Canadian Public Safety Minister Marco Mendicino shot back: “It is certainly not the concern of the Texas attorney general as to how we in Canada go about our daily lives in accordance with the rule of law.” “We need to be vigilant about potential foreign interference. ... Whatever statements may have been made by some foreign official are neither here nor there. We’re Canadian. We have our own set of laws. We will follow them,” Mendicino said. Dominic LeBlanc, the minister of intergovernmental affairs, blamed the GOP interference for inciting disorderly conduct and helping to fund entities that are not respecting Canadian law. Emergency Preparedness Minister Bill Blair said Paxton was wrong for commenting on it. Bruce Heyman, a former US ambassador to Canada, said groups in the US need to stop funding and interfering in the domestic affairs of America’s neighbour. With reporting from the Associated Press View comments || Gold Markets Trying to Break Out: Goldmarkets have rallied a bit during the course of the trading session on Monday to show signs of life again. We broke above the highs of the massive candlestick on Friday, and that is a good sign. It is possible that we are going to go higher and try to fill that gap above, but that does not necessarily mean that is going to be easy to get there. In general, gold has been struggling to hang on to gains though, so whether or not we can break through that gap is a completely different question altogether.
Looking at this chart, the 200 day EMA underneath at the $1802 level continues to be supportive, and any dip below there will probably find buying pressure again based upon what we have seen of the last couple of days. If we were to turn around a break down below the $1780 level though, that would be a very negative turn of events and send sellers into this market that could have gold looking very bearish indeed.
At this point I believe that the buyers have the upper hand, but the question is more or less whether or not we are going to see enough momentum to finally enter this market to make gold attractive enough for a bigger move? The jury is still out but it certainly seems to be more levered to the upside than anything else. I think you continue to see a lot of choppy behavior, but if you are cautious enough you might be able to have a “buy the dip” mentality on short-term charts.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Approval of the registration of Ebang's wholly owned subsidiary, Ebonex Australia, as adigital currency exchange (DCE)was completed on Dec. 3, 2021, according to a Thursdaypress release.
• Ebang stock was up 14% in yesterday's trading on the Nasdaq, though it has lost 42% of its value in the past six months.
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Read more:Bitcoin Mining Machine Maker Ebang to Launch Crypto Exchange in 2021; Shares Rise || LUNA Dips by More Than 12% as Bearish Sentiment Thickens: LUNA, the native token of the Terra ecosystem, is one of the worst performers amongst the top 10 cryptocurrencies by market cap.
Terra is an algorithmic stablecoin platform, which runs on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint.
The native token of the ecosystem is LUNA, and it is used in the issuance of stablecoins (TerraSDRs) for staking and network governance and also as a price stability mechanism.
In addition to LUNA, the Terra ecosystem also houses its stablecoin called UST.
LUNA is currently the ninth-largest cryptocurrency by market cap. Amongst the top 10 cryptocurrencies by market cap, LUNA is the worst-performer, losing more than 10% of its value in the last 24 hours.
The coin has lost over 30% of its value in the past seven days and currently trades above $50. There is no major catalyst behind its bearish performance except the broader cryptocurrency market underperforming in recent weeks.
The total cryptocurrency market cap remains above $1.6 trillion after rallying past $1.7 trillion earlier this week.Bitcoinand the other major cryptocurrencies have been stagnant over the past 24 hours, with BTC still trading around $36k per coin.
The LUNA/USD daily chart is extremely bearish, thanks to the coin’s recent performance. The technical indicators show that LUNA is currently struggling and could drop lower over the coming hours.
At press time, LUNA is trading at $51 per coin, below the50-day trading averageof $76. The RSI of 32 shows that LUNA is currently in the oversold region. The MACD is below the neutral zone, indicating a selling pressure on LUNA at the moment.
If the bears remain in control, LUNA could drop below the $50psychological levelover the coming hours.
Thisarticlewas originally posted on FX Empire
• Euro Stabilizes a Bit After Plunge
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• Silver Tests Support At $22.30
• Australian Dollar Continues to Look Very Threatened
• Oil Specs Betting on Potential Supply Disruptions
• Euro Collapses During the Week || Latest Bitcoin price and analysis (BTC to USD): Bitcoin remains in an area of indecision as it heads into the typically low volume weekend. The world’s largest cryptocurrency is currently trading at $43.200 having experienced a slight bounce from the $40,000 region this week. However, the relief bounce to the upside has coincided with a fearsome daily death cross, which has seen the 50 exponential moving average cross the 200 EMA to the downside for the first time Bitcoin’s previous macro downtrend in June. This is a worrying signal for investors as it indicates that short term momentum has shifted to a point where the macro trend also appears to be down. In order for Bitcoin to buck the trend and truly form a reversal, it needs to trade back above the $53,000 level of resistance to break the cycle of lower highs. Bitcoin BTCUSD chart by TradingView Creating a series of higher lows from $40,000 could trigger a reversal, but it’s worth noting that the odds are currently stacked against the cryptocurrency market. A more likely scenario is another rejection from the $44,000 to $46,400 region before it makes another low around $37,300 before the end of the month. At that stage, unless Bitcoin enters another period of accumulation, it would be in a troublesome bear market, with eventual targets going as far as the 2017 high of $20,000. To buy, sell and hold Bitcoin using Coin Rivet’s state-of-the-art platform, click here . For more news, guides and cryptocurrency analysis, click here. Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin .org was registered. On 31st October 2008, a paper was published called “ Bitcoin : A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto , the inventor of Bitcoin . To date, no one knows who this person, or people, are. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “ genesis block ”), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. || Ares Management Llc Buys Infrastructure and Energy Alternatives Inc, Pennant Park Investment ...: Los Angeles, CA, based Investment company Ares Management Llc ( Current Portfolio ) buys Infrastructure and Energy Alternatives Inc, Pennant Park Investment Corp, New Mountain Finance Corp, BlackRock TCP Capital Corp, Antero Resources Corp, sells California Resources Corp, Vanguard High Dividend Yield Indx ETF, , BTC iShares International Select Dividend ETF, WhiteHorse Finance Inc during the 3-months ended 2021Q3, according to the most recent filings of the investment company, Ares Management Llc. As of 2021Q3, Ares Management Llc owns 47 stocks with a total value of $3 billion. These are the details of the buys and sells. New Purchases: IEA, TCPC, AR, JETS, SAFM, ALGT, DAL, TPVG, Added Positions: CCO, PNNT, BBDC, ORCC, OCSL, NMFC, GBDC, FSK, ARCC, BKCC, TSLX, FTSI, SLRC, TRIN, SCM, BCSF, Reduced Positions: CRC, XOG, WHF, SMLP, Sold Out: VYM, IDV, EFV, CHPT, CHPT, VNQ, VNQI, VWOB, VEI, EMLC, Warning! GuruFocus has detected 5 Warning Sign with PNNT. Click here to check it out. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows For the details of ARES MANAGEMENT LLC's stock buys and sells, go to https://www.gurufocus.com/guru/ares+management+llc/current-portfolio/portfolio These are the top 5 holdings of ARES MANAGEMENT LLC Frontier Communications Parent Inc ( FYBR ) - 35,205,132 shares, 32.57% of the total portfolio. The AZEK Co Inc ( AZEK ) - 19,096,090 shares, 23.16% of the total portfolio. California Resources Corp ( CRC ) - 11,288,922 shares, 15.36% of the total portfolio. Shares reduced by 20.32% Infrastructure and Energy Alternatives Inc (IEA) - 11,821,039 shares, 4.49% of the total portfolio. New Position Clear Channel Outdoor Holdings Inc (CCO) - 46,774,772 shares, 4.21% of the total portfolio. Shares added by 5.41% New Purchase: Infrastructure and Energy Alternatives Inc (IEA) Ares Management Llc initiated holding in Infrastructure and Energy Alternatives Inc. The purchase prices were between $11.31 and $13.47, with an estimated average price of $12.29. The stock is now traded at around $9.150000. The impact to a portfolio due to this purchase was 4.49%. The holding were 11,821,039 shares as of 2021-09-30. Story continues New Purchase: BlackRock TCP Capital Corp (TCPC) Ares Management Llc initiated holding in BlackRock TCP Capital Corp. The purchase prices were between $13.36 and $14.39, with an estimated average price of $14.04. The stock is now traded at around $13.235000. The impact to a portfolio due to this purchase was 0.1%. The holding were 230,008 shares as of 2021-09-30. New Purchase: ESS U.S.Global Jets ETF (JETS) Ares Management Llc initiated holding in ESS U.S.Global Jets ETF. The purchase prices were between $21.57 and $24.62, with an estimated average price of $23.06. The stock is now traded at around $21.040000. The impact to a portfolio due to this purchase was 0.06%. The holding were 75,000 shares as of 2021-09-30. New Purchase: Antero Resources Corp (AR) Ares Management Llc initiated holding in Antero Resources Corp. The purchase prices were between $11.38 and $19.11, with an estimated average price of $14.63. The stock is now traded at around $18.070000. The impact to a portfolio due to this purchase was 0.06%. The holding were 95,000 shares as of 2021-09-30. New Purchase: Sanderson Farms Inc (SAFM) Ares Management Llc initiated holding in Sanderson Farms Inc. The purchase prices were between $181.06 and $196.67, with an estimated average price of $188.72. The stock is now traded at around $187.970000. The impact to a portfolio due to this purchase was 0.04%. The holding were 5,700 shares as of 2021-09-30. New Purchase: Allegiant Travel Co (ALGT) Ares Management Llc initiated holding in Allegiant Travel Co. The purchase prices were between $174.94 and $208.17, with an estimated average price of $191.9. The stock is now traded at around $187.380000. The impact to a portfolio due to this purchase was 0.03%. The holding were 4,473 shares as of 2021-09-30. Added: Pennant Park Investment Corp (PNNT) Ares Management Llc added to a holding in Pennant Park Investment Corp by 21.47%. The purchase prices were between $6.28 and $6.88, with an estimated average price of $6.57. The stock is now traded at around $6.710000. The impact to a portfolio due to this purchase was 0.17%. The holding were 4,415,025 shares as of 2021-09-30. Added: New Mountain Finance Corp (NMFC) Ares Management Llc added to a holding in New Mountain Finance Corp by 74.45%. The purchase prices were between $12.83 and $13.65, with an estimated average price of $13.38. The stock is now traded at around $13.280000. The impact to a portfolio due to this purchase was 0.12%. The holding were 609,420 shares as of 2021-09-30. Sold Out: Vanguard High Dividend Yield Indx ETF (VYM) Ares Management Llc sold out a holding in Vanguard High Dividend Yield Indx ETF. The sale prices were between $101.6 and $107.59, with an estimated average price of $105.07. Sold Out: BTC iShares International Select Dividend ETF (IDV) Ares Management Llc sold out a holding in BTC iShares International Select Dividend ETF. The sale prices were between $30.22 and $32.32, with an estimated average price of $31.55. Sold Out: BTC iShares MSCI EAFE Value ETF (EFV) Ares Management Llc sold out a holding in BTC iShares MSCI EAFE Value ETF. The sale prices were between $49.8 and $52.99, with an estimated average price of $51.81. Sold Out: ChargePoint Holdings Inc (CHPT) Ares Management Llc sold out a holding in ChargePoint Holdings Inc. The sale prices were between $19.91 and $32.98, with an estimated average price of $23.39. Sold Out: ChargePoint Holdings Inc (CHPT) Ares Management Llc sold out a holding in ChargePoint Holdings Inc. The sale prices were between $19.91 and $32.98, with an estimated average price of $23.39. Sold Out: Vanguard Global ex-U.S. Real Estate ETF (VNQI) Ares Management Llc sold out a holding in Vanguard Global ex-U.S. Real Estate ETF. The sale prices were between $56.04 and $59.45, with an estimated average price of $58.12. Reduced: California Resources Corp (CRC) Ares Management Llc reduced to a holding in California Resources Corp by 20.32%. The sale prices were between $25.28 and $43, with an estimated average price of $32.68. The stock is now traded at around $41.010000. The impact to a portfolio due to this sale was -3.07%. Ares Management Llc still held 11,288,922 shares as of 2021-09-30. Reduced: (XOG) Ares Management Llc reduced to a holding in by 20.87%. The sale prices were between $37.93 and $57.79, with an estimated average price of $48.02. The stock is now traded at around $. The impact to a portfolio due to this sale was -0.12%. Ares Management Llc still held 227,516 shares as of 2021-09-30. Reduced: WhiteHorse Finance Inc (WHF) Ares Management Llc reduced to a holding in WhiteHorse Finance Inc by 33.04%. The sale prices were between $14.94 and $15.97, with an estimated average price of $15.46. The stock is now traded at around $15.000000. The impact to a portfolio due to this sale was -0.08%. Ares Management Llc still held 295,153 shares as of 2021-09-30. Here is the complete portfolio of ARES MANAGEMENT LLC. Also check out: 1. ARES MANAGEMENT LLC's Undervalued Stocks 2. ARES MANAGEMENT LLC's Top Growth Companies, and 3. ARES MANAGEMENT LLC's High Yield stocks 4. Stocks that ARES MANAGEMENT LLC keeps buyingThis article first appeared on GuruFocus . || Highlights and Key Events of a Record Year for Cryptocurrencies: By Roy Katsiri Investing.com - 2021 was a great year for the cryptocurrency market, which reached historic highs. Despite the negative trend in the market in the last two months of the year, most participants in the market, both investors and traders, as well the companies and platforms operating in it, can conclude the year with many good reasons for optimism. As always, in the past year cryptocurrencies had a volatile run, and so in the last two months many of the leading cryptocurrencies dropped 30% or more. On the whole though, 2021 delivered positive returns in the crypto market for investors and traders, including hitting all-time highs in November. Bitcoin, the first and largest cryptocurrency in the market, is celebrating not only a new year, but also a Bar Mitzvah: Monday, January 3, marks the 13th anniversary of the creation of the first block ("Genesis Block") in Bitcoin's blockchain, which registered the first 50 Bitcoin coins. Key Events for the Crypto Market Quite a few events created drama in the crypto market last year, including prominently: In February 2021, electric vehicle manufacturer Tesla, led by CEO Elon Musk, announced that it invested $ 1.5 billion in buying Bitcoin, making it the first major company on Wall Street to make such a large investment in cryptocurrencies. In March, a record for the most expensive NFT (non-fungible token) transaction ever: ownership of a collage of 5,000 digital works by American artist Mike Winkelmann, known as Beeple. The NFT sold for more than $69 million at Christie's Auction House. The collage, called "Everydays: the First 5,000 Days", has become one of the three most expensive works of any form of art sold by a living artist at an auction. Last April, the American company Coinbase (NASDAQ:COIN) became the first crypto exchange to be traded on Wall Street, with its shares listed on the Nasdaq via a direct listing, closing the first day at a market value of $85 billion. This move made Coinbase the largest public crypto company in the world. The company ended the year down 23% though, still with an enterprise value of $51.7B. Story continues Dogecoin, a cryptocurrency launched in 2013 as a joke about Bitcoin, broke its all-time record in May, with its price completing a jump of more than 12,000% since the beginning of the year. Dogecoin's rally was mainly attributed to Elon Musk’s demonstrated support of the currency, who announced in May that Dogecoin would be used to fund SpaceX's space mission, which would launch the Doge-1 satellite to the moon in early 2022. In the second half of the year, however, Dogecoin fell, until it closed the year at $0.17, still 3,650% higher than its price at the beginning of the year. In September, the Chinese government announced that any activity of trading or mining cryptocurrencies in the country would be considered illegal, a grave threat for the industry. In October, on the other hand, the crypto market received significant support from US regulators, when trading was launched on Wall Street in ProShares' BITO basket fund based on Bitcoin futures. A few weeks later, on November 10, the price of Bitcoin soared to an all-time high, pulling along almost the entire crypto market in its wake. Key Stats for the Crypto Market in 2021 So after all these events, in the end, what made 2021 an unforgettable year for the crypto market? Here are some of the highlights, broken out in numbers, to illustrate: $2.18 trillion - At the end of the year, this was the total value of the crypto currency market, which numbers 16,238 digital currency types (and that number is only going to keep rising), according to data from the CoinMarketCap website. The market started 2021 with a total value of about $760 billion, so the industry nearly tripled with growth of about 187%. The year-end total value is 27% below the record high of $3 trillion seen on November 10th. Bitcoin accounted for about 40% of that year-end value. $68,789 - The all-time record price of Bitcoin, set on November 10, 2021. Since that peak, in less than two months, the price of the leading crypto currency fell 29%, and ended the year at a level of about $46,300. And yet, even after falling from the peak, the current price of Bitcoin is about 60% higher than it was at the beginning of 2021. The total market value of Bitcoin at the end of the year was around $876 billion. $4,891 - The all-time record price of Ether, the currency of the blockchain platform Etherum, set on November 16th. Since that peak, Ether's price has dropped about 25%. Although far from its peak, Ether's price at the end of December was about 400% higher than it was at the beginning of 2021. The price of the currency at the end of the year reflected a $438 billion market value for the Ethereum platform - about 20% of the total crypto market value. $15.3 billion - The estimated annual revenue volume of all Bitcoin miners. The source of the data is a study recently published by the American website The Block, which estimates that the total revenue of Bitcoin miners has increased in the past year by 206% compared to revenues in 2020. This estimate is based on the assumption that mining companies sell the cryptocurrencies they mine and convert Bitcoin into fiat currencies to finance their current expenses. However, there are also miners who prefer to hold the coins they mine. $25.1 billion - The estimated volume of capital raises in 2021 for the global crypto industry. According to The Block's report, this sum represents more than 1,700 venture capital raises completed in the past year by crypto startups and technology ventures. More than $13 billion - The total trading volume of NFTs in 2021, according to The Block's annual research report. The figure reflects a huge jump of 42,988% of the trading volume compared to the cumulative turnovers recorded in 2020, which totaled just over $33 million. The report also shows that close to 88% of 2021 total trading volume in the NFTs market was concentrated in the OpenSea online trading arena, which amounted to more than $12.5 billion in trading volume for the platform. More than $32 trillion - This is the cumulative trading volume in 2021 of Bitcoin and Ethereum futures. According to The Block, this trading volume reflects a 338% increase in trading volumes compared to 2020, which recorded an annual figure of more than $7 trillion. The peak month in terms of futures trading in the market was May 2021, when the monthly trading volume reached a level of more than $4 trillion. The largest trading platform in the market for futures contracts on Bitcoin and Ethereum is Binance. More than $14 trillion - This is the cumulative annual volume of cryptocurrencies reported in 2021 by centralized cryptocurrencies. This figure reflects a 689% increase compared to the trading volume in 2020, which amounted to a total trading volume of more than $1.8 trillion. Compared to the centralized exchanges, where most of the trading in the cryptocurrency market is concentrated, distributed crypto exchanges (DEX) concluded the past year with a cumulative trading volume of more than $1 trillion. Read also: 5 Cryptocurrencies Beyond Bitcoin To Keep On Your Radar in 2022 See our full 2022 outlook series here . Related Articles Highlights and Key Events of a Record Year for Cryptocurrencies Samsung uses blockchain technology to address climate change Bank of Jamaica completes first CBDC pilot || A majority of JPMorgan's clients see bitcoin at around $60,000 by year-end, with just 5% expecting the cryptocurrency to hit $100,000: • Around 41% of JPMorgan clients see bitcoin ending the year around $60,000.
• Meanwhile, only 5% expect bitcoin to hit $100,000.
• Bitcoin tumbled below $40,000 to its lowest level since September before bouncing back above $41,000.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell
Bullish exuberance aroundbitcoinhitting the elusive $100,000 milestone last year was fever-pitch. But the coin ended the year at less than half that, shifting the sentiment as illustrated by a poll released by JPMorgan on Monday.
The investment bank surveyed 47 of its clients between December 13 to January 7 as part of its broader macroeconomic outlook for the year.
The result: Around 41% of the clients see the world's most valuable cryptocurrency ending the year around $60,000, an upside of around 46% from Monday's price. Meanwhile, only 5% expect bitcoin to hit $100,000 by year-end.
It has been a rocky ride for bitcoin so far as cryptocurrencies across the board faced selling pressures in the wake of a risk-off shift spurred by a hawkish Federal Reserve.
Bitcointumbledbelow $40,000 to its lowest level since September on Monday before bouncing back above $41,000. Bitcoin has slid 11% since the start of the year and sits roughly 40% below its record high of $69,000 reached in November.
Still, some, including El Salvador's bitcoin-loving president,Nayib Bukele, are optimistic that bitcoin will reach $100,000 in 2022.
JPMorgan inNovember 2021said bitcoin could surge to $146,000 in the long run if its volatility subsides and institutions start preferring it to gold in their portfolios. That's roughly 256% above the coin's current level. A price of $73,000, the bank said, looks reasonable for 2022.
Bitcoin's volatility is currently around four to five times higher than gold, the bank said. That would have to fall dramatically before institutional investors plow in.
Despite this, there is a new member joining the $100,000 bandwagonthis year. Goldman Sachs said bitcoin could rocket to that level but only if it continues to take market share from gold.
Read the original article onBusiness Insider || New to The Street / Newsmax TV Announces Eight Interviews for this Week's TV Broadcast, February 13, 2022, airing at 10-11 AM ET: New to The Street / Newsmax TV Announces Eight Interviews for this Week's TV Broadcast,
NEW YORK, Feb. 11, 2022 (GLOBE NEWSWIRE) -- FMW Media'sNew to The Street /Newsmax TVannounces the broadcasting line-up of its national syndicated 1- hour TV show this Sunday, February 13, 2022, airing time 10-11 AM ET.
New to The Street's304th TV show line-up, features eight (8) interviews of the following Companies and their businesses representatives:
1).Tonix Pharmaceuticals, Inc.'s(NASDAQ: TNXP) interview, Dr. Seth Lederman, MD, CEO.
2). Cryptocurrency –Sonar -Resonance Labs Ltd.'s(CRYPTO: PING) ($PING)interviews, Mr. Michael Wood, CFO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO).
3). Cryptocurrency –Alkimi's(CRYPTO: $ADS) ($ADS)interview, Mr. Ben Putley, CEO.
4). Cryptocurrency –KamPay Tech Ltd's(CRYPTO: KAMPAY)($KAMPAY)interview with Mr. Chris Cleverly, CEO.
5).GlobeX Data, Ltd.'s(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) interview with Mr. Alain Ghiai, CEO.
6). CryptocurrencySportemonGo's(Crypto: SGOX) ($SGOX)interview, Mr. Ricky Jackson, CEO.
7).PetVivo Holdings Inc.'s(NASDAQ: PETV) interview, Mr. John Lai, CEO & President.
8).Sekur's®(a GlobeX Data, Ltd. business division)"SPECIAL SEGMENT-Weekly Hack"interview with internet privacy expert Mr. Alain Ghiai, CEO.
New to The Street TV airs Anchor Jane King's interview withTonix Pharmaceuticals, Inc.'s(NASDAQ:TNXP) CEO, Dr. Seth Lederman, MD. Viewers get an update about Tonix Pharmaceuticals, Inc.'s Covid-19 vaccine, antiviral pharmaceutical, and "Long" Covid-19 novel treatments and products. Currently, in the market, there are three (3) types of treatments in the fight against Covid-19: mRNA vaccines, antiviral therapies, and monoclonal antibodies. Seth gives a comparison and talks about the limitations of each available Covid-19 treatment. TNXP's live vaccine,TNX-1800, in development, offers long-term protection beyond the currently used mRNA vaccines. Another in development therapy, the Company'sTNX-3500, an oral antiviral pharmaceutical, clinically shows about 65 times more potent thanremdesivirin inhibiting Covid. Test combining TNX-3500 and remdesivir shows a robust protective solution. TNX-3500 is an investigational new drug not yet approved for use. Seth talks about the Company's upcoming clinical trials on its treatment for "Long Covid." With its new40,000+ sq. ft. location in Fedrick, Maryland, a known biotech /biodefense sector area in the US, the facility and its personnel allow ongoing clinical trials and scientific development programs with economies of scale operational efficiencies and effectiveness. Seth sees Tonix Pharmaceutical as an innovator in the fight against Covid and other diseases.
This week TV Anchor Ana Berry welcomes back to New to The Street Mr. Michael Wood, CEO, and Mr. Cristiano Troffei, Chief Innovation Officer (CIO) atSonar -Resonance Labs Ltd.'s(CRYPTO: PING) ($PING)("Sonar"). Cristiano explains the Sonar platform and what makes it uniquely different from competitors. The software application makes it a user-friendly experience, educating individuals and the users to obtain tools to grow as a crypto investor.Sonar's technological designand friendly user experience came from Cristiano's inspirations and influences from Apple products and his years of experience in technology designs and development. Michael talks about the "DYOR- Do Your Own Research," which is very cumbersome without having access to Sonar's information tools. Most due diligence for a crypto investor on coins, NFTs, and tokens can take many hours to visit multiple sites. Sonar brings a vast number of educational resources and financial tools as one application. As mass crypto adoption nears, having a basket of resources in one platform regarding blockchain reports, transactions, trade data, analytics, Defi access tools, and other essential matrices, Sonar's real-time information is necessary for any crypto investor. Their crypto tracking dashboard with numerous functions gives excellent and reliable data, giving a crypto investor confidence to make informed and timely decisions.
New to The Street TV again is airing the interview with Mr. Ben Putley, CEO atAlkimi(CRYPTO: $ADS) ($ADS). Talking with TV Anchor Jane King, Ben tells viewers about Alkimi, the world's first decentralized ad exchange, rewarding users, publishers, and advertisers. With his background in digital ads, Ben compares eBay and Alkimi, whereas bidding wins in an auction setting. Ben explains that your data is the product onW3 (Web 3.0),and Alkimi gives you the tools to make money off your data footprint. Alkimi users now how a voice and can monetize their internet browsing activities with Alkimi's new digital advertising ecosystem. Users, advertisers, and publishers create significant operational and financial performances through its media exchange auction, beyond the centralized ad platforms dominated by Google and Meta (Facebook). Ben states, "You are the product." The Alkimi Exchange platform creates a more effective ad, is less costly, and is a disruptive shift from centralized web ad platforms. Transactions on the Alkimi Exchange required the Company's $ADS token. Ben gives his projections on metaverse ads. He talks about the $ADS token and other NFTs used for unique marketing campaigns to provide rewards, discounts, and interexchange platform uses.
New to The Street airs this week TV Anchor Jane King's interview withKamPay Tech Ltd's(CRYPTO: KAMPAY)($KAMPAY)CEO, Mr. Chris Cleverly. Chris explains his interest in the continent and why digital currencies work in Africa. The KamPay token provides a must-needed solution for the financial well-being of many. African citizens lack reliable legacy financial platforms and the financial outlets that do exist charge outrageously high-interest rates. People, farmers, and businesses are using crypto and adopting its many benefits faster than anywhere else on the planet. Chris talks about how mobile money payment platforms were developed and used a full ten (10) years successfully before being adopted in the USA. Due to the influences of the large multibillion-dollar banking entities, US banks were hesitant on mobile payment platforms. Since Africa has no real entrenched financial legacy industry, Crypto adoption rates are soaring throughout the continent. With a young population demographic, Africa is the second-largest trader of Bitcoin, second to the USA. KamPay Token provides a payment system for countries with weak currencies, overcomes inflationary issues, making cross-border trade transactions seamless.
Once again, on this week's New to The Street TV show, Mr. Alain Ghiai, CEO,GlobeX Data, Ltd.(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT). TV Anchor Jane King asked Alain about a recent federalALERTfrom theUSCybersecurity and Infrastructure Security Agency (CISA), a US Department of Homeland Security division, over a software bug in Windows that causes hacking on US federal systems. The agency wants all the federal computer systems upgraded with a software patch. With geopolitical tensions worldwide, especially in Europe regarding Ukraine, the Foreign State-sponsored and "For Hire" hacking is part of the global instabilities. Intellectual property owned and controlled by universities, government, and businesses are the hackers' targets for access to their proprietary data and sciences. Alain updates the ever-growing corporate fundamental at GlobeX Data, Ltd and itsSekurSuite®cybersecurity products, providing a status on its audited financial statements for year-end 2021, with expected completions before the conclusion February 2022. Once done, the Company finishes the necessary qualifications needed to up-lift the Company's stock trading platform ontoOTCQX. The OTCQX is the highest tier trading platform offered atOTC MARKETS, a highly creditable platform, with many large multinational corporations listed. Alain expects to be in New York City in March 2022 to do a live in-studio interview with New to The Street and visit several investment bankers. His goal is to list the Company's stock on theNASDAQmarket in the future. Thebillboard outside the NASDAQ buildingdisplays a GlobeXData's Sekur ad; Alain looks forward to a photo of himself with the background of the ad and building.
This week, New to The Street TV welcomes back to the show, Mr. Ricky Jackson, CEO atSportemonGo(Crypto:SGOX) ($SGOX).Talking with Anchor Jane King, Mr. Jackson talks about the Company's unique cryptocurrency, with a purpose to revolutionize both the interactive gaming, NFT collectible, and broader sport experience industries. He explains Sportemon Go's blockchain tokenized sports, NFTs, Metaverse, and betting. The Company successfully minted its first Premier League Soccer (Football) league star and released the NFT from itsSporteNFT Marketplaceplatform. The Company's metaverse platform allows users to participate in Greyhound dog and formula 1 racing games. Through NFTs, users can own, sell, buy, rent, place bets, own racecourses on Def1 car racing andMetaRaceWorld dog racingplatforms. As an end-to-end sports Company with a management team with years of experience, SportemonGo continues to evolve with new and exciting sports crypto user opportunities. Ricky sees a strong future ahead for SportemonGo.
New to The Street TV is again airing the interview with Mr. John Lai, CEO and President,PetVivo Holdings Inc.(NASDAQ: PETV). Talking with TV Anchor Jane King, Mr. Lai talks about the Company's most recentAAEP (American Association of Equine Practitioners) trade show experiencein December 2021, held in Nashville, TN. TheCompany exhibited PETV'sbiomedical devices and its osteoarthritis treatment available to millions of dogs and horses. Lots of veterinary interest came from the show, and John told viewers the US Olympic Equestrian veterinary visited their trade booth. The Company receivedrepeat orders of its Spryng™ with OsteoCushion™ Technology(Spryng™) from introductions made at this Nashville show. Thepatented Spryng™product is an injectable treatment for Osteoarthritis and joints, which mimics cartilage and tissue, improving mobility and elevating pain and inflammation. John informed viewers thatvetcove.com, an online product site for veterinarians, now carries Spryng™. The US market for Osteoarthritis treatments grows at an annualized rate of over 5%, currently at $4.8B. Withpet ownerswilling to spend thousands of dollars for the well-being of their pets, Mr. Lai explains the humanization process by pet owners and why he sees this upward trend continuing in pet care spending. John gives his 2022 expectation with expanding the PetVivo product lines into other domestic and exotic animal species and the roll-out of the osteoarthritis treatment designed for cats.
New to The Street, once again airs the"SPECIAL SEGMENT"aboutSekur®,(a division ofGlobeX Data, Ltd.) with the internationally acclaimed internet privacy expert, Mr. Alain Ghiai, CEO. Talking with TV Anchor Ana Berry, Alain enlightens the viewers with his"WEEKLY HACK,"giving another real-world problem with PowerPoint presentations loaded with malware. Social engineered emails targeted individuals with specific interests receive enticing emails with attached PowerPoint presentations. Malware is loaded onto the system when the unsuspected recipient opens that attachment. Open-source platform emails like Microsoft Exchange and Gmail are susceptible to these attacks. The open-source code used repeatedly by millions of end-users for many years causes these email platform vulnerabilities hackers use to steal your data. As always, Alain explains and emphasizes how GlobeX Data, Ltd. operates its internet platforms and security businesses under the country of Switzerland's very tough privacy laws. ASekur® accountwith the Sekur send/receive feature gives end-users a security feature to eliminate hacking. GlobeX Data's email servers are owned and controlled by the Company. They have no 3rdparty sharing, no outsource coding, no integration sharing with outside apps, and no open-source coding. These features can provide a secure email for both businesses and individual use without the fear of open-source hacking. For only $7.00 a month, an individual can enjoy these security features. The Sekur email for businesses, a web-based platform, is available, and the easy-to-use no-web app will be available to subscribers at the end of March 2022. As the hacking problems continue, the proper solution is to subscribe on a monthly or yearly fee toSekurSuite®andSekur®products for both individual and corporate uses. Next week, Alain is back with more…What is the price of your privacy worth?
About Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP):
Tonix Pharmaceuticals Holding Corp.(NASDAQ: TNXP) is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring, and developing small molecules and biologics to treat and prevent human disease and alleviate suffering. Tonix's portfolio comprises immunology and central nervous system (CNS) product candidates. Tonix's immunology portfolio includes a COVID-19 platform of product candidates to prevent and treat COVID-19, treat Long COVID, and detect functional T cell immunity to COVID-19. Tonix's lead vaccine candidate for COVID-19, TNX-18001, is a live replicating vaccine based on Tonix's recombinant pox vaccine (RPV) platform to protect against COVID-19, primarily by eliciting a T cell response. Tonix reported positive efficacy data from animal studies of TNX-1800 in the first quarter of 2021 and expects to start a Phase 1 study in humans in the first half of 2022. TNX-35002(sangivamycin) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-Investigational New Drug (IND) stage of development. TNX-102 SL3(cyclobenzaprine HCl sublingual tablets) is a small molecule drug in development to treat Long COVID, a chronic condition, and is also in the pre-IND stage. Finally, Tonix is developing TNX-21004, anin vivodiagnostic to measure the presence of functional T cell immunity to COVID-19. Tonix intends to initiate a first-in-human clinical study of TNX-21004in the fourth quarter of 2021, pending IND clearance. Tonix's immunology portfolio also includes biologics to address immunosuppression, cancer, and autoimmune diseases. The Company's CNS portfolio consists of small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions. Tonix's lead CNS candidate, TNX-102 SL3, is in mid-Phase 3 development to manage fibromyalgia, with a new Phase 3 study expected to start in the first half of 2022. TNX-13005is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the first quarter of 2022.-https://www.tonixpharma.com(1TNX-1800 is an investigational new biologic and has not been approved for any indication. TNX-1800 is based on TNX-801, live horsepox virus vaccine for percutaneous administration, which is in development to protect against smallpox and monkeypox. TNX-801 is an investigational new biologic and has not been approved for any indication.2TNX-2100 is an investigational new biologic and has not been approved for any indication.3TNX-3500 is an investigational new drug at the pre-IND stage of development and has not been approved for any indication.4TNX-102 SL is an investigational new drug and has not been approved for any indication.5TNX-1300 is an investigational new biologic and has not been approved for any indication.)
About Sonar(CRYPTO: PING) ($PING):
Sonar -Resonance Labs Ltd(CRYPTO: PING) ($PING)(“Sonar”) is a dynamic, all-in-one crypto tracking platform aiming to simplify and accelerate online investments. The platform's analytical ecosystem provides a safe place for users to research, manage, and decide on their current and future crypto investments by providing complete transparency and traceability. It features a central platform of analytics tools, a web3 wallet, and educational content -https://www.sonarplatform.io/.
About Alkimi(CRYPTO: $ADS) ($ADS):
TheAlkimi(CRYPTO: $ADS) ($ADS)is a decentralized advertising exchange built on the Constellation Network's Hypergraph. Using the OpenRTB standards for programmatic advertising, Alkimi Exchange host a media exchange auction in real-time on the Hypergraph, a hosted state channel, AlEx. AlEx is the state channel facilitating a programmatic exchange that provides cost savings and fraud prevention for all stakeholders in the advertising industry: users exposed to digital advertising, publishers that host advertising, and advertisers that buy digital media. Alkimi Exchange is the first digital advertising. An immutable record of all media servings and engagements are recorded on a blockchain and ushered in accountability for the new digital advertising paradigm -https://alkimiexchange.com/.
AboutKamPay Tech Ltd(CRYPTO: KAMPAY)($KAMPAY):
KamPay Tech Ltd(CRYPTO: KAMPAY)($KAMPAY)is a utility token and currency explicitly designed for smartphone users that capitalize on high mobile uptake across a region. The wallet is a lightweight mobile and desktop application allowing users to send, receive and interact $KAMPAY from any location with the network coverage. The KamPay Wallet is a multi-currency mobile and desktop client with a built-in messaging application to store BTC, ERC-20, and BSC tokens. The open-source KamPay Wallet will allow safe, secure, and large-scale participation in the digital economy across Africa, with low technical and transactional barriers to participation. The KamPay Wallet supports ERC-20 and BSC tokens, allowing users to store the native assets of applications available on the KamPay platform. The Company's objective is to help foster a thriving community of merchants, shoppers, traders, promoters, players, and other ecosystem participants who all have a stake in KamPay and benefit from helping the project growhttps://www.kampay.io/.
About GlobeX Data, Ltd. (OTCQB: SWISF) (CSE: SWIS) (FRA: GDT):
GlobeX Data, Ltd.(OTCQB: SWISF) (CSE: SWIS) (FRA: GDT) is a Cybersecurity and Internet Privacy provider of Swiss hosted solutions for secure communications and secure data management. The Company distributes a suite of secure messaging applications, encrypted emails, secure communications, and secure data management tools, using Swiss privacy laws, proprietary technology, and its independent platform, away from big techs hosting platforms. GlobeX Data, Ltd. sells its products through approved wholesalers, distributors, and telecommunications companies worldwide. GlobeX Data, Ltd. serves consumers, businesses, and governments worldwide –https://www.globexdata.com.Sekur®is a Swiss secure communications application offering secure and private messaging, emails, voice messages, self-deleting messages, and file transfers from any mobile device, tablet, or desktop. Sekur users can communicate with Sekur and non-Sekur users through its unique Chat-By-Invites feature and Sekur, send email system. All data traffic stays in GlobeX Data's Swiss-hosted servers, using its proprietary HeliX technology, military-grade encryption, and benefiting from Swiss Privacy Laws –https://sekur.com& Twitter:@globexdata.
About SportemonGo(Crypto:SGOX) ($SGOX):
SportemonGo(Crypto: SGOX) ($SGOX):was founded in 2021 by Ricky and Corey Jackson. With illustrious backgrounds in sports marketing and sporting software, the pair envisaged the creation of a platform to stand as a world premiere in NFT augmented reality sports trading. To revolutionize both the gaming and NFT collectible industries, SportemonGo will enable its users to hunt and collect NFTs of their favorite sporting heroes in real-time. Users will interact at stadiums and sporting events like never before, creating the perfect synergy between the current world and the metaverse. SportemonGo is funded solely through its cryptocurrency, a BEP20 token leveraging a smart contract on the Binance Blockchain network. This native cryptocurrency will power the entire economy within the platform allowing users to purchase NFT collectibles, form their ultimate team, participate in mini-games, earn rewards, and much more -https://sportemongo.com/.
About PetVivo Holdings, Inc. (NASDAQ: PETV):
PetVivo Holdings, Inc.(NASDAQ: PETV) is an emerging biomedical device company currently focused on manufacturing, commercialization, and licensing innovative medical devices and therapeutics for companion animals. The Company's strategy is to leverage human therapies to treat companion animals in a cost and time-efficient way. A vital component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a pipeline of seventeen products to treat animals and people. A portfolio of twenty-one patents protects the Company's biomaterials, products, production processes, and use methods. The Company's lead productSpryng™,a veterinarian-administered, intraarticular injection for the treatment of lameness and other joint-related afflictions, including Osteoarthritis, in dogs and horses, is scheduled for expanded commercial sales -https://petvivo.com/.
About FMW Media:FMW Media operates one of the longest-running US and International sponsored and Syndicated Nielsen Rated programming TV brands "New to the Street" and its blockchain show "Exploring The Block." Since 2009, these brands have run biographical interview segment shows across major U.S. Television networks. The TV platforms reach over 540 million homes in the US and international markets. FMW's New to The Street / Newsmax TV broadcasting platform had its first show broadcast Sunday, December 27. The New to The Street / Newsmax TV show airs its syndication on Sundays at 10 -11 AM EST. FMW is also one of the nation's largest buyers of linear Television long and short-form -https://www.newsmaxtv.com/Shows/New-to-the-Street&https://www.newtothestreet.com/.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
FMW Media Contact:Bryan Johnson+1 (631) [email protected]
And
"New to The Street" Business Development [email protected]
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/520df56a-175e-481e-b1ba-500489b70027
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 43961.86, 40538.01, 40030.98, 40122.16, 38431.38, 37075.28, 38286.03, 37296.57, 38332.61, 39214.22
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-09-21]
BTC Price: 597.15, BTC RSI: 45.09
Gold Price: 1326.90, Gold RSI: 51.07
Oil Price: 45.34, Oil RSI: 51.67
[Random Sample of News (last 60 days)]
Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn
(Reuters) - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency.
To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc.
The companies did not respond to request for comment, nor did the NSA.
Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain “cyber weapons” developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. [http://reut.rs/2aVA7LD]
The Shadow Brokers said the programs they will auction will be “better than Stuxnet,” a malicious computer worm widely attributed to the United States and Israel that sabotaged Iran’s nuclear program.
Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage.
“The data [released so far] appears to be relatively old; some of the programs have already been known for years,” said researcher Claudio Guarnieri, and are unlikely “to cause any significant operational damage.”
Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used."
Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost.
The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner."
(Editing by Cynthia Osterman) || Traders move into homebuilders and home improvement stocks: The " Fast Money " traders said on Tuesday it might be time to move into the homebuilder stocks. On Tuesday, the SPDR S&P Homebuilders ETF (NYSE Arca: XHB) gained about 1.8 percent after Toll Brothers ( TOL ) reported better-than-expected results on the back of higher home sales. Trader Tim Seymour said that between recent economic data and Toll Brothers' ( TOL ) upbeat results, the homebuilders and home improvement stocks look attractive. In these sectors, he said he likes PulteGroup ( PHM ) , D.R. Horton ( DHI ) , Restoration Hardware ( RH ) and Sherwin-Williams ( SHW ) . Trader Steve Grasso said KB Home ( KBH ) may benefit from people buying lower-priced homes. Trader Brian Kelly said he isn't as sold on the fundamentals of a rally in the homebuilder stocks. He said that if he had to pick a stock in the space, he would prefer home improvement companies like Lowe's ( LOW ) . Disclosures: TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO and short HYG, IWM. DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XOP, US Dollar UUP. He is short the euro and Japanese yen. STEVE GRASSO Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No Shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR, FP. || Bitcoin Plunges, Hong Kong Exchange Says Millions Stolen in Hacking: DailyFX.com -
Talking Points:
• Bitcoin extends fall as news of an exchange hack reignited cybersecurity fears with cryptocurrencies
• Chinese Bitcoin exchange halts trading to investigate hack resulting in $65 Million in losses
• Bitcoin prices rebound on open exchanges following the hack, only one exchange was effected
Having trouble trading Foreign Exchange? Thismay be why.
Bitcoin suffered one of its worst declines in years through the open of this week. News that trading was halted on “Bitfinex” exchange after a hack resulting in $65 million theft unnerved traders. Bitcoin fell a little over 24 percent through Tuesday’s low following the announcement of the hack. Bitfinex remains closed, howeverforthough open exchanges the Bitcoin-USD pair (BTC/USD) rallied by more than 20 percent from lows through Wednesday. The hacked exchange is expected to remain closed for the next few days as investigations continue to uncover more information. Volume in BTC/USD trading spiked significantly through the decline and on the news of the hack. Average volume on for the cryptocurrency pair on the Bitstamp exchange rose to more than 22,000 on Tuesday and over 15,000 Wednesday – the 20-day average before these large movements was a comparatively restrained 4,400.
Cybersecurity remains a chief concern for the cryptocurrency and its numerous exchanges worldwide, as it is traded and used entirely over a network.The recent hack on the Hong Kong exchange is not the first. The largest bitcoin exchange in the world “Mt. Gox”, filed for bankruptcy in 2014 and admitted to being hacked, resulting in the loss of $460 Million in bitcoin. The cryptocurrency has become extremely popular since it was first introduced 7 years ago, to better understand its role in the financial markets check out DailyFX’sForex Trading Instructor Tyler Yell piece onBitcoin.
original source
DailyFXprovides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts fromFXCM. || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn (Reuters) - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency. To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc. The companies did not respond to request for comment, nor did the NSA. Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain cyber weapons developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. [ http://reut.rs/2aVA7LD] The Shadow Brokers said the programs they will auction will be better than Stuxnet, a malicious computer worm widely attributed to the United States and Israel that sabotaged Irans nuclear program. Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage. The data [released so far] appears to be relatively old; some of the programs have already been known for years, said researcher Claudio Guarnieri, and are unlikely to cause any significant operational damage. Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used." Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost. The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner." (Editing by Cynthia Osterman) || Apollo's Rackspace deal is crushing short-sellers: Apollo Global Management justtook Rackspace, one of the most heavily shorted stocks, private.
The cloud services company is being acquired for$32 per share in a $4.3 billion deal, which, as Business Insider reporter Akin Oyedele notes, is a 6% premium above Thursday's closing price. It's alsoa38% premiumto Rackspace's closing price on August 3.
So Rackspace's move to go private is harsh news for a number of its short-sellers. (To short a stock means to bet its price will go down.)
Short-sellers had been adding on to their bet against Rackspace since mid-April, bringing short interest on Thursday to $404 million, according to Ihor Dusaniwsky at S3 Partners, a research firm.
The short float on the stock was 12.7% as of August 15, according to Bloomberg data. And it's in the top 100 of stocks that are being sold short, according to data trackerFinViz.
(Investing.com)
NOW WATCH:There’s a glaring security problem with those new credit card chips
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• THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
• Fintech could be bigger than ATMs, PayPal, and Bitcoin combined
• This 350-foot megayacht comes with its own private 'beach' onboard || Bitcoin is money, U.S. judge says in case tied to JPMorgan hack: By Jonathan Stempel
NEW YORK (Reuters) - Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies.
U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange.
Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses.
But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition.
"Bitcoins are funds within the plain meaning of that term," Nathan wrote. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment."
The decision did not address six other criminal counts that Murgio faces, Nathan wrote.
Lawyers for Murgio did not immediately respond to requests for comment.
Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it.
Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people.
That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said.
Shalon has pleaded not guilty, and is being held at the Metropolitan Correctional Center in Manhattan. He hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June, a Monday court filing showed.
The case is U.S. v Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-00769.
(Reporting by Jonathan Stempel in New York; Editing by David Gregorio) || Bitfinex says expects "socialized loss" for $72 million bitcoin hack: By Clare Baldwin HONG KONG (Reuters) - Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million (54.8 million pounds) worth of bitcoin this week, said on Friday that it expected to "socialize" the losses among bitcoin balances. In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange. The theft accounted for about 0.75 percent of all bitcoins in circulation. "We are still working out the details," Bitfinex said on its website, "however, we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions." The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail. It has said previously it would settle accounts at an exchange rate of $604.06, the midpoint of the bid and ask on Aug. 2, 2016 at 18:00:00 UTC. The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP. It was trading at $569.84 on Friday. (Reporting by Clare Baldwin; Editing by Will Waterman) || Flow Study Gets More Caribbean Students Closer to Examination Success: MIAMI, FL--(Marketwired - Sep 20, 2016) - As parents and students get fully into the new school term, Flow unveils its e-learning platform, Flow Study , an online portal to help students better prepare for the CAPE and CSEC examinations. One of the most significant features of Flow Study is that it offers access to a comprehensive range of educational materials, including exam strategies, past paper solutions, CyberPedia and virtual labs, that students can access from multiple devices including smartphones, tablets and desktop computers. The portal is also linked to video-based tutorials via Flow TV on Demand. Ricardo D. Allen , head of One On One Educational Services , is the founder and developer of the Flow Study program. For the last several years, his team has been preparing students for the CSEC mathematics exam, maintaining a 100 percent pass rate with an average of 83 percent of these students, attaining a grade one. Flow sees the partnership with One to One as an opportunity to twin the educational expertise and successful track record of One on One with Flow's world class technological platform to significantly expand access to e-learning to thousands more Caribbean students. "Our partnership with One On One Educational Services enables us to deliver the highest-quality educational content via our industry-leading technology, giving Caribbean students a better opportunity to excel," said Michele English, Acting President of Flow. "The platform supplements classroom learning and gives students the ability to study anytime, anywhere. It's the future of studying and we are pleased to offer this opportunity to our customers," she stated. The App offers free access to basic study materials to all Flow's broadband customers. Parents who want more specialized and detailed material for their children, can access additional subjects and content for a small fee that they will be able to pay through their Flow bill or prepaid balance. Story continues Getting started is simple -- visit www.flowstudy.co , 'login' to register for a free FLOW ID. Download the Flow Study app on your mobile device from the Google Play Store to access learning material and you're on your way to better grades. Flow Study is available across all Flow markets except Curacao. About C&W Communications CWC is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. CWC also operates a state-of-the-art submarine fiber network - the most extensive in the region - in over 30 markets. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband internet and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3058430 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3058433 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3058436 || Bitfinex says expects 'socialized loss' for $72 million bitcoin hack: By Clare Baldwin HONG KONG (Reuters) - Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to "socialize" the losses among bitcoin balances. In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange. The theft accounted for about 0.75 percent of all bitcoins in circulation. "We are still working out the details," Bitfinex said on its website, "however, we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions." The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail. It has said previously it would settle accounts at an exchange rate of $604.06, the midpoint of the bid and ask on Aug. 2, 2016 at 18:00:00 UTC. The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP. It was trading at $569.84 on Friday. (Reporting by Clare Baldwin; Editing by Will Waterman) || The fintech ecosystem explained: (Shutterstock)
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution.
The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:
• Traditional Retail Banks vs. Online-Only Banks:Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees
• Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful
• Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.
As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.
After months of researching and reporting this important trend, Evan Bakker, research analyst forBI Intelligence, Business Insider's premium research service, has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:
• Retail banking
• Lending and Financing
• Payments and Transfers
• Wealth and Asset Management
• Markets and Exchanges
• Insurance
• Blockchain Transactions
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
Among the big picture insights you’ll get from this new report, titledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:
• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.
This exclusive report also:
• Explains the main growth drivers of the exploding fintech ecosystem.
• Frames the challenges and opportunities faced by incumbents and startups.
• Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.
• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
• Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.
• Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.
• And much more.
The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industryis how you get the full story on the fintech revolution.
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[Random Sample of Social Media Buzz (last 60 days)]
$608.21 at 03:45 UTC [24h Range: $603.00 - $609.50 Volume: 2373 BTC] || $576.00 at 15:45 UTC [24h Range: $575.40 - $582.33 Volume: 3220 BTC] || 1 BTC Price: BTC-e 569.391 USD Bitstamp 568.92 USD Coinbase 576.00 USD #btc #bitcoin 2016-08-03 20:30 pic.twitter.com/NNC8qeRIbB || Bitcoin Successfully Disrupts Remittance In Southeast Asia http://goo.gl/fb/9igUOg #bitcoin #news || 1 #BTC (#Bitcoin) quotes:
$573.00/$573.49 #Bitstamp
$572.84/$573.48 #BTCe
⇢$-0.65/$0.48
$572.41/$578.38 #Coinbase
⇢$-1.08/$5.38 || #TrollCoin #TROLL $ 0.000027 (-4.01 %) 0.00000005 BTC (-4.00 %) || Courtesy of @MoosePicks_ Live #Bitcoin Price is $655.00 @Chain Get Ready To Pick #btc Price at http://tinyurl.com/betmoose || #Anoncoin/#ANC price now: $0.165874, that's 0.00% change in 1hour. 14.75% past day, and 4.25% in the past week! #Bitcoin is $572.97 || $631.68 #bitfinex;
$635.00 #itBit;
$636.40 #GDAX;
$625.00 #btce;
$631.53 #OKCoin;
$630.15 #bitstamp;
#bitcoin news: http://bit.ly/1VI6Yse || Collect #Free #Bitcoin every 5 minutes. Totally legit, no strings attached.
http://dld.bz/eNghg
#blockchainpic.twitter.com/x0pscbJG9u
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Trend: up || Prices: 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-02-16]
BTC Price: 407.49, BTC RSI: 58.21
Gold Price: 1207.90, Gold RSI: 66.99
Oil Price: 29.04, Oil RSI: 44.06
[Random Sample of News (last 60 days)]
10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem': (Thomson Reuters)William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New YorkFinance Insider is Business Insider's midday summary of the top stories of the past 24 hours.
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Wall Street already has a trade of the year.
Everyone from Bill Ackman to David Tepper to Kyle Bass is betting against the Chinese yuan.The shorts seem to be everywhere.
"Clearly a bunch of smart guys are chasing the [John] Paulson 2008 dream of crushing a major structural problem in the market," said Tim Seymour of Triogem Management.
In bank news,Goldman Sachs CEO Lloyd Blankfein today made his firstTV appearance after 600 hours of chemotherapy. He said he can easily explain what's going on in the equity market right now.The rest of the market, not so much.
The bank just announced a big shake-up,with lots of people moving role.Most notably,Jim Esposito, who was cohead of the global-financing group, will join the securities division as chief strategy officer.To read about him,click here.To read about what his appointment means,click here.
In other news, an18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackmanpulled off a pretty impressive trick shot to win a pointintheRBC Tennis Championships of Dallas.
AndUber will let you ordera puppy squad to your office.
Here are the top Wall Street headlines at midday:
We just got terrible news about the most important part of the US economy-The services sector is slowing down.
A kid in Bill Gross' high school nicknamed 'God of Thunder' eventually fell on hard times-Bill Gross had a big kid in his high school class.
Chipotle's disastrous 2015 explained in one chart-Fewer customers see it as a healthy food option. Ouch.
OLIVER WYMAN: It will take 10 years for the tech behind bitcoin to break big in finance-Blockchain database technology, which underpins digital cryptocurrencies such as Bitcoin, has got finance industry executives very excited.
Pack your bags, Wall Streeters: Your jobs are moving to Nashville- UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville.
A Bill Gates-backed startup that wants to edit your genes just raised nearly $100 million-Editas became the first company to price an initial public offering in the US in 2016.
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• WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || 16 Bold ETF Predictions for 2016: 2015 wasn’t exactly a great year for fund investors. A few choice companies dominated and left their competitors in the dust, making it a pretty poor year to be a sector investor. For example, stocks like Amazon (AMZN) or Netflix (NFLX) more than doubled in 2015 while not a single major SPDR sector looks to finish the year with gains in excess of 11%. However, 2016 looks to be a bit brighter, assuming of course it isn’t going to be a ‘stock picker’s market’ again in the New Year. Beyond that though, it looks to be another exciting and prosperous year for the ETF industry, and one that looks to see plenty of changes, as well as new funds. In terms of what specifically the New Year might hold, I offer up 16 predictions on what I think 2016 will hold for the world of ETFs, and what investors need to watch for in the New Year: What does 2016 hold for the ETF world? Hedged currency trend finally ends One of the most annoying trends in 2015 has been the surge in every type of hedged currency ETF you could think of, be it half hedged, dynamic hedged, or Chinese currency hedged. While I think the dollar will strengthen a bit more, I think the second half of 2016 will see the flow of hedged ETFs slow to a trickle—if not an outright halt—as the dollar levels out and investors look elsewhere for gains in foreign markets (see Flurry of New Currency Hedged ETFs Fuels Price War ). ETMFs Debut, but stumble out of the gate Exchange Traded Mutual Funds are going to be a big buzzword in 2016 as companies like Eaton Vance look to launch this product type which seeks to provide the exchange-traded benefits of ETFs, with the closed-off holdings aspects of mutual funds to prevent front-running. While I think these will one day have a place in the fund world, they will stumble out of the gate as they confuse investors, unless of course big name players jump on this category and can bring their brand name following with them. More specialized sectors funds look to catch fire, but struggle After the insane rise of the cybersecurity ETF (HACK) in the past year, a number of ETF issuers are looking to strike it rich with similar products in the New Year. As of late, I have seen filings for e-commerce funds, 3D Printing ETFs, and an Internet of Things product, with all of them looking to catch fire like HACK did. However, HACK had a massive catalyst, and without that, the new funds will struggle for a bit to gain popularity in 2016 (see Invest in Booming Technologies with These 3 ETFs). Story continues IWM will beat SPY in 2016 Large caps led the way in 2015, mostly thanks to incredible performances from well-known companies. I think this trend reverses in 2016 and we see a return of the small cap ETF (IWM) and its outperformance over its large cap counterparts in the New Year. RSP will beat SPY in 2016 In that same vein, the equal weight S&P 500 fund (RSP) had long beaten its cap-focused counterpart, SPY . However, this trend ended in 2015 thanks to those surging mega cap securities. I am also looking for this trend to reverse in 2016 and to see a resurgence of equal weight product demand in general for the New Year as well. Surge in duration hedged/negative duration ETF interest A few years ago, hedged Japan ETFs (like DXJ ) hit the market and many thought they were too sophisticated for retail investors. However, as this turned out to be the best way to play the Japan story, investors of all stripes flocked to these products, making them ultra-popular choices in the Japan market. The same concerns are present now with hedged/negative duration bond funds and I think as interest rates rise these will have their time in the sun (by being the best bond ETF plays) and surge in popularity in 2016 ( Worried About Higher Interest Rates? Buy These 4 ETFs to Profit ). Ex-sector funds hit $100 million under management If 2016 is anything like 2015, we will see at least one major sector stumble. That is why I think the lineup from ProShares of ex-sector ETFs (ex-energy, ex-financials, ex-health care, and ex-technology) will finally surge in 2016 after languishing in anonymity for much of Q4 in 2015. With a year under their belt, these will finally see some interest from investors and will go from a combined AUM of under $20 million today, to a combined AUM of at least $100 million by year’s end. New SPDR Select Sector ETFs hit $100 million in assets State Street’s SPDR lineup has proven to be very popular, but the company recently launched two new products to round out its financial ETF offering; XLFS (focus on financial services) and XLRE (focus on real estate). Both of these made their debut in Q4 but haven’t really seen a surge in assets. I think this will change in 2016 as the interest rate picture becomes clearer, making at least one of them a $100 million product, up from roughly $16 million total right now. Oil-free in 2016 The trend against oil investing will continue in 2016 and I think we will see at least a few more fossil-free funds hit the market as investors look to avoid this space in their portfolios. I also think we could see an oil-free bond ETF (or fossil free bond ETF) as issuers look to cash in on the trend against oil investments and over the concerns of defaults in the high yield market in this corner of the fixed income world (read Support the Environment and Profit with Fossil Fuel Free ETFs ). ETF Closures Go Over 100 and Hit/Approach a Record There are nearly 20 funds that have less than $1 million in assets under management, while about 300 have less than $5 million under management. There is basically no way these are profitable and I am sure we will see a host of closures in 2016 as the writing on the wall becomes clear for many of these strategies. This will make 2016 another big, if not the biggest, year for ETF closures on record. Someone Will Close Down Too Early The flip side of this is that a fund will close down too early. In 2016, I predict a fund will shut its doors only to see its segment go on to great popularity within the next few months. We saw this with FAA and the airline space (among others) and it is hard to discount the importance of timing in the ETF world right now, so look for this to happen to a country or sector fund in the New Year (see Finally a New Airline ETF Prepares to Take Off). Two similar ETFs will launch within a one month window You know when Hollywood launches two similar movies pretty close together ( White House Down and Olympus Has Fallen or A Bug’s Life and Antz back in the day)? Well, the ETF industry likes to do that too, putting out funds that target pretty much the same area within a few weeks of each other. The idea is to dilute the first-mover advantage (or to race and become the first mover) and I’d look for that trend to continue in 2016 at least once. Wearable ETF hits the market (or at least a filing) Thanks to the ubiquitous nature of Fitbit (FIT) and a boost in interest in all technology connected devices that are ‘wearable’, a number of companies are jumping into this market. As we saw in recent months with cyber security and cloud computing ETFs, I’d expect to see a wearable (ticker WEAR?) before too long, or at least a filing that will get this fund to market eventually. Bitcoin fund finally comes out For quite some time now, there has been a filing in the pipeline for a bitcoin ETF (COIN) from the Winklevoss twins of all people. The first filing was in 2013, an index was launched earlier in 2014, and I think 2016 will finally mark see this idea pass regulatory hurdles as well as the launch of this product which should help to make bitcoins more easily tradable and liquid for the masses, much like what GLD did for gold (read Believe It or Not: Winklevoss Bitcoin ETF on the Horizon ). Price war continues As the ETF space starts to round out, many ETF issuers have launched ‘me-too’ products which target substantially similar segments of the market. The way they differentiate has largely been on the price front and this has forced issuers to slash costs in order to remain competitive. This war has been great for consumers who look to save more money, and I expect to see more fee cuts and price competitive products in 2016 as well. You’ll see more calls of an ETF Bubble… These will be wrong Every couple of months, ETF pundits will write articles or go on TV saying that the end is near for the ETF world and that the category cannot support more products. These predictions have been wrong before and they will be wrong again in 2016. While there are a lot more ETFs than there were a few years ago, there is still plenty of more sector specific and active ETF opportunities out there, meaning that investors shouldn’t be worried about a bubble again in the New Year either (see Best and Worst ETFs of 2015). Happy New Year and best of luck to fund investors in 2016! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FITBIT INC (FIT): Free Stock Analysis Report PURFDS-ISE CYBR (HACK): ETF Research Reports ISHARS-R 2000 (IWM): ETF Research Reports SPDR-FS SELS (XLFS): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports GUGG-SP5 EQ ETF (RSP): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Blockchain Gets A Much-Needed Stamp Of Approval: Finance firmGoldman Sachs Group Inc(NYSE:GS) has become a pillar of the financial sector with traders looking to the bank's advice for everything from investing to saving. For that reason, Goldman Sachs Director Don Duet'spositive remarksregarding blockchain could be a catalyst for the technology's success.
Blockchain Potential
Bitcoin has had a rough ride over the past year, as many of the coin's users suffered losses due to volatile prices and exchange collapses.
However, the technology that bitcoin runs on – a ledger-like system called blockchain – has been gaining momentum. This is especially true in the financial sector, where banks say blockchain could improve their operations and make things like cross-border payments more streamlined.
Related Link:Blockchain Moves Forward In The Financial Industry
Using Blockchain
Earlier this month, Duet commented on blockchain, saying that he sees the technology as both exciting and groundbreaking. He said blockchain systems have the potential to revolutionize banking operations and the technology could help banks share information and conduct asset transfers more easily and securely.
A Single Truth
Duet said blockchain provides banks with a "single truth," meaning that it creates one constant system that all banks can use. One of the problems with the banking sector as it currently stands, he said, is that every bank is operating with different systems and protocols.
Because of this, banks have to spend a lot of time reconciling differences in order to conduct transactions. However, using blockchain could change all of that by providing banks with one single ledger updated with each transaction.
A Bright Future
While Duet's comments were general in nature, many saw his optimism regarding blockchain as a positive sign for the future. Banks like Goldman Sachs,Morgan Stanley(NYSE:MS) andCitigroup Inc(NYSE:C) have been exploring how blockchain might fit into their operations in recent months, and Duet's remarks suggest the outlook is promising.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin's biggest investor bought its leading news outlet: There is one trade publication in the digital currency industry that every mainstream news outlet knows well, and cites regularly in stories about bitcoin:CoinDesk. It is a source of news about bitcoin investments, price spikes or crashes, and executive hires, and it is a regular destination for journalists who write about bitcoin (as well as for bitcoin enthusiasts who don't get paid to write about the currency).
Last week, CoinDesk reported some newsabout itself. The website has been bought by Digital Currency Group, the investment firm of Barry Silbert, who in 2004 founded SecondMarket, which allows for the trading of private-company stock. He sold the platform to Nasdaq (NDAQ) last year. This is DCG's first full acquisition; it did not disclose the sale price, but sources tell Yahoo Finance it was around $750,000.
DCG has invested in 60 different digital currency companies, and the companies in its portfolio have raised 70% of the venture capital in the industry. You might think that creates an obvious conflict of interest here. Silbert owning CoinDesk is like Red Sox co-owner John Henry buying the Boston Globe (which actually happened), or Peyton Manning buying the Denver Post, or Donald Trump buying Politico.
But Ryan Selkis, the DCG executive who will oversee business at CoinDesk for the time being, insists that won't be a problem. Nonetheless, he says the possibility did concern him at first.
The subject of changing ownership at a bitcoin news site may seem like granular inside-baseball, but it is significant when viewed in the context of ongoing fears about who owns the media. From NewsCorp to Bloomberg to recent changes at the Las Vegas Review-Journal, it is a topic on the minds of both journalists and their readers.
Is bitcoin's primary news site selling to bitcoin's biggest investment firm another piece of bad news for the industry? Selkis, DCG's director of growth, spoke to Yahoo Finance about that question and about DCG's plans for the site. What follows is an edited transcript.
Yahoo Finance:Before we get into CoinDesk, what was your take on the fallout from Mike Hearn's post last week? [Hearn, a bitcoin developer,declaredthat bitcoin had "failed" and that he was leaving the industry; it resulted in a media firestorm.]
Ryan Selkis:I won’t comment on the theatrics of it. I will say that Mike Hearn was one of the really solid developers, he’s contributed a good chunk of his life and energy into making bitcoin what it is today, so, style aside, there’s not a whole lot people can say to critique his overall contribution to the industry. But this [ongoing debateover the size of blocks, or bundles of transactions, recorded on bitcoin's public ledger] is more of a governance issue than it is a bitcoin issue, in terms of how this will get resolved. I think it will get resolved. But the governance of the overall project needs to be better.
What was DCG's approach to buying CoinDesk, what were the considerations?
The first priority we had when we considered this acquistion, my main hesitation, was whether we’d be able to preserve CoinDesk’s editorial independence. And it’s why I’m working with the team full-time now on operating activities. We are going to create both informational and physical barriers between the editorial team and Digital Currency Group. From a policy standpoint, I’ve recused myself from all investing activity at DCG. I was its director of investments; I have completely transitioned away from that and now I’m director of growth.
How does handling growth for DCG pertain to CoinDesk?
In this particular instance it means making sure we have a smooth transition post-acquisition. We’re combining two teams. We’ve kept all the CoinDesk employees and our plan is to continue to employ everyone that came over, hopefully for a long time. But we also have a professional events team we’ve been working with that were already in the midst of planning a large conference in May, and now we’re merging those two teams to plan one event, Consensus 2016. So now everyone, with the exception of myself, is a CoinDesk employee. And functionally, I’m full time with the CoinDesk team.
So how are you separating CoinDesk from DCG?
We are physically relocating offices to a different part of Manhattan. So the CoinDesk folks are not going to be sitting right next to our Genesis [a broker dealer that is another DCG subsidiary] trading team or our investment team, which has proprietary information on how 60 or so bitcoin companies that we are invested in are performing.
What if CoinDesk is now afraid to write bad news about companies DCG is invested in? Or it could go the other way: Will CoinDesk start getting all the scoops on DCG companies?
On the latter point, I’m not concerned because even before this, CoinDesk had established itself as a clear industry leader in terms of a trade journal. So they were already getting most of the scoops. When you talk about embargoed news releases, they are going to continue to be on the same lists as the other folks that DCG reaches out to. So that doesn’t really change. To be honest, CoinDesk was typically part of a broad group of outlets that would be contacted whenever there was news about a DCG company, because we never want to restrict press attention to just one outlet for any of its business interests. So that is the much easier question to answer.
With respect to editorial conflicts, look, that’s what I’m here for, is to make sure there’s a buffer between both entities. So on the one hand, I’m not influencing CoinDesk editorial, but on the other hand, I’m leading the team on a day-to-day basis, and I’m able to interface with DCG but I’m no longer privy to any inside-baseball related to the portfolio companies.
That seems like a contradiction: You won't influence CoinDesk editorial, but you'll lead CoinDesk day to day? So will you be full time at CoinDesk, or at DCG?
I’m DCG's director of growth, but I'm focused full time on CoinDesk and this acquisition, and the 10 or so employees we’ve absorbed, and the large-scale conference we’re producing in May. That makes CoinDesk our top priortity in terms of growth initiatives.
Is the conference the main reason DCG bought CoinDesk? Why else?
We think there’s a lot of organic growth potential for CoinDesk. They’ve had display advertising and various sponsors, but last year they hosted Consensus 2015, it was profitable, it was well-attended, folks were raving about the content of the event. And in mid-2015 they also began publishing paid research reports. As we continue new investments in CoinDesk, paid research and live events are going to be meaningful drivers of growth for the business.
We have the resources to invest not only in fantastic new editorial talent, as in full-time reporters, but also strengthen the ranks of freelance contributors. One area we will invest in is looking beyond just bitcoin the currency and the very insular community there, and branching much further out into blockchain applications that enterprise is taking a look at. Now, that doesn’t mean we are on this "blockchain, not bitcoin" bandwagon, because I don’t want to give that impression at all and it’s a very shrill conversation that happens on Twitter and Reddit when you bring it up. But I do think there will be private ledger solutions that work for enterprise where bitcoin isn’t necessarily a good alternative.
Yes, big financial institutions and banks, from Nasdaq to JPMorgan, have been on the "blockchain, not bitcoin" trend lately. Do you think that's all talk?
I think the interest is definitely real. The bigger question is, over what time frame does this play out? I don’t think that anyone should expect fully functioning products in the next year, two years, handful of years. It will take many years to build some of these core products that are used currently for clearing and settlement. But I think it’s not just a buzzword, I think "blockchain for banks" truly is more relevant in many cases than using the bitcoin blockchain. If you’re a large institution and you’re looking to create an open ledger where you can move securities around safely and transparently to other regulated institutions, you don’t need a native currency like bitcoin or a consensus mechanism that uses anonymous miners. You already know the parties. You could have five banks that are the only signatories to that particular blockchain. So that would be interesting.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer || Flux Party seeks to be the bitcoin of Australian politics: By Matt Siegel SYDNEY (Reuters) - A new Australian political party is using the virtual currency bitcoin as a model to replace what they say is an outdated political system - representative democracy - with a streamlined new polity for the information age. The Flux Party says its goal is to elect six senators. They will propose no policies and will not follow their consciences, but will support or block legislation at the direction of their members, who can swap or trade their votes on every bill online. "If they didn't have to be senators, if they could just be software or robots they would be, because their only purpose is to do what the people want them to do," Flux Party co-founder Max Kaye told Reuters in an interview. Australia is set to hold an election in September or October after a period of turmoil that brought five prime ministers in as many years. At the same time the upper house, which thanks to the quirks of its electoral system has a history of returning mavericks and fringe party candidates, has been hopelessly deadlocked by a handful of senators, at least one elected on less than 1 percent of the vote. Prime Minister Malcolm Turnbull last week raised the possibility of calling an early poll to break the gridlock that has held up the government's legislative agenda. That type of policy inertia is what bitcoin enthusiasts Kaye and Flux co-founder Nathan Spataro say inspired them to explore alternative systems that better represent the world of 2016. Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. The technology behind it is called the blockchain - a massive electronic ledger of every transaction that is verified and shared by a global network of computers. To Spataro and Kaye, bitcoin is not just an alternative financial system: it is the missing link between representative democracy and Democracy 2.0. "This ancient system we've got of representative democracy, which at the time liberated us from monarchies and was awesome, now we're at a point where it's become this monster," Spataro said. Story continues "We're in a society now that's got the Internet and when democracy in its current form was conceived, you had to sail on a ship from England to get here. This model wasn't designed for this world." "DELIGHTFULLY NAIVE" Bitcoin's strength comes from its ability to build trust through ease of verification and by removing human frailty from the equation, said Dr. Adrian Lee, an expert on bitcoin at the University of Technology Sydney. That makes what the Flux Party is proposing both unique and also potentially fraught. "I haven't seen a party which would vote via blockchain," Lee said. "If you removed the politician and made it just a bitcoin machine, then maybe it would work but you can't do that," he said, noting the absence of a legally binding mechanism to make Flux senators vote as directed. Although the party's architecture for calculating and distributing voters' wishes to their elected officials uses highly complex computer code, the overall idea is fairly simple. Flux members and single-issue campaigners that agree to support the party at the election are allotted bitcoin-like tokens that they can use themselves, trade or give to experts or interest groups they trust to vote as their proxy. Outcomes are distributed proportionately, so if 80 percent vote in favor of a bill and 20 against, five Flux senators vote yea and one nay. Ministers are not often experts in their portfolio, and yet they are charged with making critical decisions on issues such as environmental or fiscal policy. Under their system, the Flux Party founders say, large blocs of voters could effectively grant their vote on such issues to a scientist or economist. "You get sick, you go to the doctor, right? You don't self-diagnose and you don't go and call your plumber," Kaye said. The Party filed its registration papers with the Australian Election Commission last month after obtaining the requisite support of at least 550 registered voters. Its website currently puts its membership at 1,009 people. Attempting to apply the transformative power of the Internet to democratic systems is not a new one, said Peter Chen, a senior lecturer in politics at the University of Sydney, who called the Flux Party "delightfully naive people". "They're just the modern version of something that's always been around: utopian political system designers," he said. "They're obviously guys who are really focused on the tech thing and that has always been the problem with the e-democracy people. They're often really tech-driven and they need political scientists at the brainstorming floor to say 'well, I don't know if that'd work'." (Reporting by Matt Siegel; Editing by Alex Richardson) || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. "To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) || XBT Provider AB: Bitcoin Tracker EUR (COINXBE) Now Available on Nasdaq Nordic through Interactive Brokers: Stockholm, Sweden (January 19, 2016) - XBT Provider AB (publ) announced today the availability of the ETN Bitcoin Tracker EUR in 179 countries. Starting today anyone with an Interactive Brokers account can trade the ETN Bitcoin Tracker EUR. The ticker code is COINXBE. ISIN: SE0007525332
The tracker is an exchange traded note designed to mirror the return of the underlying asset, U.S. dollar (USD) per bitcoin.
This is the first bitcoin-based security denominated in Euro available on a regulated exchange. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to bitcoin prices.
"Bitcoin tracker EUR" is listed on Nasdaq Nordic and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. COINXBE is also available via Bloomberg terminals.
Direct link to specifications at Nasdaq:http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE113749
Direct link to specifications at Bloomberg:http://www.bloomberg.com/quote/COINXBE:SS
The full prospectus and more information is available onxbtprovider.com
ABOUT THE ISSUER: XBT PROVIDER
XBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313.
Press release (PDF)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1975095 || Antwerp diamond trade turns to fintech platforms: Diamonds love Antwerp.
At least, that is the official slogan of theAntwerp World Diamond Centre(AWDC), the public/private company (it's part government-owned) that oversees the diamond trade in Antwerp, Belgium, the world's leading city for buying and selling the stone. In 2014 some $59 billion worth of diamonds (in USD) were brought into or exported out of Antwerp—more than 5% of the GDP of Belgium. The AWDC serves as a watchdog for the industry, sets standards and promotes the market, and has a commercial arm that counts all the world's leading diamond dealers as members.
But lately, the global market doesn't love diamonds. Sales declined across the board last year, and Antwerp saw its own trade volume fall some 18%, from $59 billion to $48.3 billion. (AWDC points out that "competitors such as India and Israel endured much steeper declines.")
To address the diamond downturn, AWDC is turning to unlikely partners: fintech startups. It announced today a "pilot project" with San Francisco-based Uphold and Belgium-based FX4BIZ. Both are payment platforms that allow for fast and free conversion between many different currencies, including fiat and virtual currency, and commodities.
"We, as the industry’s representative organization, are always searching for new technologies and ways to distinguish ourselves from our competitors," said AWDC CEO Ari Epstein in a statement. Last year the AWDC held a diamond investment symposium with Morgan Stanley (MS), and Epstein says the two new partnerships are a result of the symposium.
For Uphold, which markets itself as a sort of cloud-money vault, this deal brings not just financial potential, but the legitimacy of a global market partner to a still-nascent platform that rebranded at the end of last year. Uphold launched in 2014 as BitReserve, and originally customers needed to deposit funds in the virtual currency bitcoin. They could convert money into dollars, pesos, francs, and other currencies or even precious metals, but they had to start in bitcoin. That is no longer the case, and Uphold dropped the "bit" from its name, seemingly to distance itself from the controversy and stigma of the digital coin.
The web site now allows for conversion into23 different fiat currencies(including dollar, euro, pound, shekel, rupee, and yen), plus four metals (silver, gold, palladium and platinum) and bitcoin. About $836 million in transactions has been moved around on Uphold, with $85 million currently held in Uphold wallets.
"Some of the legacy players in this space are very focused on specific virtual currencies," says Uphold CEO Anthony Watson, likely referring to bitcoin, "but... I predict in the next 5-10 years virtual currencies will become vertical to support vertical businesses and industries. If you look at our platform, we deal in all forms of currency. We'll support any and all types of value that the market supports."
Watson, a former chief information officer at Barclays (BCS) and then at Nike (NKE), surprised many when he left to join Bitreserve. Its founder, Halsey Minor, a founder of technology news site CNET, brought Watson on for his banking experience, then made him Uphold's CEO after only a few months. Watson has said he hopes Uphold can serve to level the financial playing field, bringing banking service to the unbanked and underbanked.
Thanks to the AWDC partnership, "We get to showcase our platform in something that hasn't been done before," he tells Yahoo Finance. As for AWDC, "They needed areal-time platform that allows for payment processing and clearing for their traders and dealers." Uphold says using its platform will save diamond traders "tens of millions of dollars each year."As a result of the partnership, Uphold is also opening a new office in Antwerp.
AWDC will encourage its member companies, which in turn have relationships with some 2,000 diamond dealers around the world, to use Uphold or FX4BIZ for their banking services, foreign exchange and money transfer services. The value proposition of these startups is that they allow for the conversion and transmission of funds much faster and cheaper than traditional wire transfer. Whether diamond traders will hop on board is a different question.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin's biggest investor bought its leading news site
Here's a sign that PayPal is embracing Bitcoin
Bitcoin industry consolidates: Why Kraken bought Coinsetter || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year. Industry juggernaut Carnival Corp (NYSE: CCL ) saw its shares rise 19.43 percent over the course of the year, and Barron's sees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead. Safety In The Water Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent. Related Link: Barron's Picks And Pans: Carnival, Pandora, American Capital And More Expanding Into China Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle, Royal Caribbean Cruises Ltd (NYSE: RCL ) or Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) could be smart plays. Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer. Image Credit: Public Domain See more from Benzinga 4 CEOs With A Tough Year Ahead Ledger Fights For Bitcoin's Staying Power At CES 2016 Virtual Reality In 2016 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$383.29 at 09:15 UTC [24h Range: $376.00 - $396.12 Volume: 10288 BTC] || 1 #BTC (#Bitcoin) quotes:
$419.32/$420.00 #Bitstamp
$415.18/$416.11 #BTCe
⇢$-4.82/$-3.21
$422.40/$422.38 #Coinbase
⇢$2.40/$3.06 || $429.25 at 20:00 UTC [24h Range: $417.01 - $433.17 Volume: 9264 BTC] || $436.89 at 20:15 UTC [24h Range: $425.52 - $450.00 Volume: 19459 BTC] || $462.97 at 02:00 UTC [24h Range: $453.51 - $466.64 Volume: 12606 BTC] via #btcusdpic.twitter.com/DZyISMO9fV || LIVE: Profit = $19.45 (1.40 %). BUY B3.65 @ $380.00 (#VirCurex). SELL @ $386.55 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #Valera
#Venezuela
RT @ThePriceOfBTC:
$429.17 #coinbase;
$427.00 #bitstamp;
$426.32 #bitfinex;
$425.15 #btce;
#bitcoin #btc || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $39.16 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $166.39 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000004
Average $1.7E-5 per #reddcoin
11:15:00
|
Trend: up || Prices: 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The semiconductor trade: 4 stocks to watch: Applied Materials(NASDAQ: AMAT)' earnings beat Thursday may provide a reason to buy into the battered semiconductor space, CNBC"Fast Money"trader Brian Kelly said.
The company-which makes technology used to manufacture chips-beat Wall Street's earnings expectations as total orders rose 11 percent year-over-year. Shares rose 2.5 percent in extended trading to more than $20 per share.
Read MoreAfter-hours buzz: El Pollo Loco, King, Party City & more
"I would be a buyer of Applied Materials here," Kelly said.
Big-name stocks in the sector, including Qualcomm(NASDAQ: QCOM)and Micron(NASDAQ: MU), have suffered this year. Trader Jon Najarian looked to stocks that have performed well while some peers struggled.
He pointed to Broadcom(NASDAQ: BRCM), which he called a "monster" as it has climbed more than 50 percent in the last year. Najarian also liked Maxim Integrated Products(NASDAQ: MXIM), which has climbed 7 percent this year.
Maxim jumped more than 4 percent Thursday on reports that Avago(NASDAQ: AVGO)has shown interest in buying it.
NXP Semiconductors(NASDAQ: NXPI)also looks to have upside despite an "incredible rise," said trader Steve Grasso. The company-which has a hand in credit card system components-has soared 34 percent higher this year.
Disclosures:
Jon Najarian
Jon Najarian is long AEP, BBY, CS, CSLT, EXXI, FEYE, GE, HFC, HSBC, HUN, HZNP, JWN, MAS, MCD, MDRX, MRVL, MW, NEE, NRG, NUGT, OAS, OC, PG, PVA, RHT, RRC, RYL, SCTY, SIMO, SIRI, SKX, SOL, SYK, TAP, TEVA, TTWO, TLT, VIX, WMB, UPS, XLI, YPF and ZIOP. He is long calls AKS, BBY, CTXS, EQT, EWJ, FB, GE, GREK, GRPN, GSK, GTI, IDTI, JWN, LNKD, MCD, MDRX, MT, MYL, NTAP, NUAN, OAS, PG, PPC, PRU, RAD, SAP, SIMO, SKX, SNDK, TAP, UPS, VALE, WFM and XLK. He is long LOCO puts. Today, he bought AEP, JWN, NUGT, UPS, JWN calls MT calls, UPS calls and LOCO puts.
Steve Grasso
Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long MCD, AXP, IBM, KO, TWTR and ZNGA. His kids own EFG, EFA, EWJ, IJR and SPY.
Karen Finerman
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short SPY. Her firm is long AAPL, ANTM, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, M, KORS, SUNE, URI and XBI. Her firm is short IWM, SPY, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly
Brian Kelly is long DXGE, BTC=, BBRY, SPY puts and U.S. dollar. He is short Australian dollar, euro, yen and yuan. Today, he bought DXGE and sold short euro.
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• Top News and Analysis
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• Personal Finance || Can Overstock.com (OSTK) Surprise This Earnings Season? - Analyst Blog: Overstock.com Inc. OSTK is slated to report first-quarter 2015 results after the closing bell on Apr 27. Last quarter, the company posted a negative earnings surprise of 76.00%. Let's see how things are shaping up for this announcement. Factors to Consider Overstock’s fourth-quarter 2014 earnings of 6 cents missed the Zacks Consensus Estimate of 25 cents. Revenues of $470 million, however, beat the consensus mark of $452 million. On a positive note, Overstock, which became the first large retailer to accept bitcoin in Jan 2014 is likely to benefit from the bitcoin-friendly regulatory climate in its home state, Utah. The new bill also proposes that Utah could become a Bitcoin Silicon Valley. Overstock Club O loyalty program, which costs customers $19.95 a year, comes with free shipping and a generous rewards payout of 5% to 25% on all items purchased. That, along with a new branded credit card, should help boost loyalty to the site and encourage repeat purchases. Overstock has been accepting bitcoin as payment for a year now. Customers have made $3 million worth of purchases with it so far. Recently, there were reports that it is planning to offer its employees the option of being paid in bitcoin. With a strong business model and a growing customer base, Overstock should benefit from the shifting demand to purchase gifts and other items online. Earnings Whispers? Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Ranks #1, 2 or 3 for this to happen. That is not the case here as you will see below. Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 20 cents. Hence, the difference is 0.00%. Zacks Rank: Overstock currently carries a Zacks Rank #3 (Hold). Though Zacks Rank #1, 2 or 3 increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult. Story continues We caution against stocks with Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Other Stocks to Consider Here are some other companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: Groupon, Inc. GRPN has an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy)Cognex Corp. CGNX with Earnings ESP of +4.35% and a Zacks Rank #1Apple Inc. AAPL has an Earnings ESP of +1.38% and a Zacks Rank #2 (Buy) Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OVERSTOCK.COM (OSTK): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report COGNEX CORP (CGNX): Free Stock Analysis Report GROUPON INC (GRPN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || USAA creates research team to study use of bitcoin technology: By Gertrude Chavez-Dreyfuss NEW YORK, May 8 (Reuters) - USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said. Alex Marquez, managing director of corporate development at USAA, said in an interview this week that the company and its banking, insurance, and investment management subsidiaries hoped the "blockchain" technology could help decentralize its operations such as the back office. He said USAA had a large team researching the potential of the blockchain, an open ledger of a digital currency's transactions, viewed as bitcoin's main technological innovation. It lets users make payments anonymously, instantly, and without government regulation. The blockchain ledger is accessible to all users of bitcoin, a virtual currency created through a computer "mining" process that uses millions of calculations. Bitcoin has no ties to a central bank and is viewed as an alternative to paying for goods and services with credit cards. "We have serious interest in the blockchain and we think the technology would have an impact on the organization," said Marquez. "The fact that we have such a large group of people working on this shows how serious we are about the potential of this technology." USAA, which provides banking, insurance and other products to 10.7 million current or former members of the military, owns and manages assets of about $213 billion. Marquez said USAA had no plans to dabble in the bitcoin as a currency. Its foray into the blockchain reflects a trend among banking institutions trying to integrate bitcoin technology into their systems. BNY Mellon and UBS have announced initiatives to explore the blockchain technology. Most large banks are testing the blockchain internally, said David Johnston, managing director at Dapps Venture Fund in San Antonio, Texas. "All of the banks are going through that process of trying to understand how this technology is going to evolve." Story continues "I would say that by the end of the year, most will have solidified a blockchain technology strategy, how the bank is going to implement and how it will move the technology forward." USAA is still in early stages of its research and has yet to identify how it will implement the technology. In January this year, USAA invested in Coinbase, the biggest bitcoin company, which runs a host of services, including an exchange and a wallet, which is how bitcoins are stored by users online. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) || Arizona State Makes College More Attainable: Last week, Arizona Stateannouncedits plans to make the courses for an entire freshman year of college available online for students to access from anywhere in the world.
While the prospect of online degree courses is nothing new, Arizona State is setting an important precedent for US schools— the entire program will be free of charge.
A New Way To Learn
The US university will be working together with edX, a non-profit online learning platform that was created by Harvard University and the Massachusetts Institute of Technology, to provide higher level learning to anyone who wants it.
The courses will be available to be taken for college credit, which the students can then use toward a degree at Arizona State or any other University that accepts the transfer credits.
Try Before You Buy
The program is expected to significantly improve the college experience for many different groups as it will allow students to build confidence before spending a great deal on college.
Around 40 percent of those who start at a US college are unable to earn a degree within six years, but the online program is expected to help decrease those figures.
Related Link:Are Consumers Being Deceived About Organic Foods?
Students can take the Arizona State courses online free of charge, and pay $200 per credit once the course is passed in order to redeem university credit. If a student fails the course or decides against using their credits, they won't be charged.
By taking and passing an entire year's worth of classes, students can compete their freshman year of college for just $5,160, compared to out-of-state students living on campus who often pay nearly $40,000 per year.
A Wide Range Of Audiences
The online program is expected to draw in a wide variety of students who, for some reason or another, don't want to shell out the cash for a year of tuition.
The university said it is expecting foreign students who want to study in the US to sign up as well as those who dropped out of school or decided not to continue their education past the high school level.
The program will also be useful for high school students who want to determine whether or not they are ready to go on to college.
See more from Benzinga
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• The Shift Toward Automated Investment Advisors
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Shop Signs Letter of Intent to Merge With Spondoolies-Tech: ARLINGTON, VA--(Marketwired - Apr 28, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has signed a Letter of Intent ("LOI") to merge with Spondoolies-Tech Ltd ("Spondoolies"), a digital currency server manufacturer. BTCS is embarking on a mission to build a fully integrated transaction verification services business using Spondoolies' state-of-the-art bitcoin mining technology. In the bitcoin network, transactions are typically verified by operators of specially designed servers which ensure speed, efficiency, security and accuracy. Currently, there are only five companies globally manufacturing these servers and Spondoolies is widely recognized as a leader in the space. Both companies believe the anticipated combination of BTCS and Spondoolies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed. "Our key goal in 2014 was to create the partnerships needed to build an ecosystem and start laying the foundation to put our vision into place," said Charles Allen, CEO of BTCS. "Once completed, our merger with Spondoolies would be a significant leap forward in making this ecosystem a reality. We believe this merger once completed would create significant value for BTCS and Spondoolies shareholders, customers, and employees and serve to accelerate the strategic plans in which both companies have invested. As a collective, our next objective will be to complete the development and production of a next generation chip to drive our transaction verification services business and to generate revenue from the combination." Story continues "Over the last several months, we've worked closely with Charles Allen and the BTCS team to establish the nature of our potential partnership," said Guy Corem, CEO of Spondoolies. "The synergy between the teams is amazing. I have the utmost confidence that together we will build a very successful and prosperous company by growing and expanding our business beyond bitcoin mining equipment." About BTCS: BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. For more information visit: www.btcs.com About Spondoolies-Tech: Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a digital currency hardware manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Cryptocurrency Finds A Place In Education With Smileycoin: Universities and schools offering online education have grown in number over the past decade as students' preferences change and college enrollment fees rise. The low-cost nature of an online education has been one of the largest draws for schools like the University Of Phoenix, which offers everything from a Bachelor's Degree in business administration to a Master's Degree in Education. However for many students, financial constraints and self-esteem issues keep them from even considering a higher education. Gunnar Stefansson is looking to change all of that with an online tutoring project designed to get low-income students involved in their education through the use of digital currencies. Online Tutoring In an effort to increase math proficiency among students across the globe, Stefansson founded Tutor Web , an online tutoring system that helps students by providing courses covering topics like calculus and statistics. Students from around the globe can participate in the classes, designed by Gunnar himself and some of his colleagues at the University of Iceland. Digital Rewards This year, the site added a reward system based on its own cryptocurrency, smileycoin. Smileycoin can be bought and sold on cryptocurrency exchanges and is intended to give students an incentive to participating in the program. Students can earn the coin in a variety of ways from passing a lecture for a relatively small number of coins to earning the highest mark in the class for a larger sum. The site is also rolling out a peer-tutoring option, which allows students to tutor each other and pay for those services using smileycoin. Related Link: Charities Are Turning To Bitcoin The Bigger Picture While the value of smileycoin is still quite low, Gunnar told Benzinga that he sees the platform as a jumping off point for bigger things. While only a handful of students have cashed in their smileycoins on an exchange to date, Tutor Web is hoping to expand the project to include new uses for the coin that could further entice students to make use of the service. Story continues In the future, he hopes to partner with other companies like coffee shops and airlines to offer discounts or video game providers to offer free time for smileycoin payments. Ideally, Stefansson said smileycoin would mature enough to give low income students a way to earn their way to a higher education. See more from Benzinga The Future Of Robots World Leaders Looking For Ways To Fight Back Against Terrorism Using Social Media Pot For Spot: Can Marijuana Treat Pets? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Casino billionaire Sheldon Adelson went on a big rant about having to pay his executives too much: (Reuters)
Sheldon Adelson is one of the 20 wealthiest people in the world,according to Forbes.
But the casino magnate thinks his employees get paid too much.
According toThe Guardian, "while testifying on Wednesday in a civil suit rooted in allegations that his casino operation in Macao made improper payments to a Chinese official and had ties to Triad organized crime, Adelson unexpectedly enlightened the court on his feelings about the bonus culture."
The casino magnate thinks even his own executives working abroad are paid too much:
The billionaire complained that his expatriate executives, deployed to postings such as Macao or Singapore, were sending their children to school on the company shilling at $30,000 a year in fees for each child. Then some of them were getting Adelson's Las Vegas Sands company to pay $50,000 a year for college education. Adelson called that "offensive."
On top of that there's the housing allowance — $25,000 a month in Singapore, he stressed — and a car.
"Not a Toyota like they would drive here," he thundered.
The judge listened in what looked like bemused silence as Adelson shifted to the high cost of flying executives' families around the world.
"Sending whole families home four times a year is not acceptable," he said. "When it comes to flying, it has to be first-class when the whole family could fly coach."
Adelson also had an interesting answer to a question from the opposing counsel about a signature irregularity on a form, according to The Guardian: "You want to send me to jail? I just bought a big home. I don't want to move to smaller quarters."
Billionaires: You can't send them to jail because there isn't enough square footage.
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• Uber and Lyft are inching toward becoming the next big mass-transit providers || ECB Meeting Minutes Expose Cracks In Central Bankers' Confidence: The European Central Bank's large scale bond buying plan has done wonders for the region's markets.
With the exception ofGreece, European nations' share markets have been on fire since the roll-out of ECB President Mario Draghi's highly anticipated quantitative easing plans.
The stimulus package was also seen improving the bloc's economic struggles, but many are beginning to question whether or not the bank's investment will pay off.
Minutes Show Concern
At the beginning of March, the European Central Bank predicted that the eurozone would grow 2.1 percent in 2017.
The figure was considered a product of the successful implementation of the ECB's bond buying program coupled with economic reform in struggling eurozone nations and gave investors hope that the region was turning a corner.
However, theminutesfrom that meeting, released last week, show that a strong recovery in the eurozone is anything but certain.
Related Link:Euro/Dollar Parity: What's Next?
Projections Uncertain
That 2.1 percent growth target was based on a number of factors, which ECB members said were far from being set in stone. For one, the bank's assessment of growth depended largely on oil prices remaining low throughout the next two years.
While many analysts believe that oil prices are likely to be persistently weak in the coming years due to an imbalance between supply and demand, several scenarios in which production is reduced are possible as well.
Difficulty Agreeing
Additionally, many worry that the bank's growth forecast was too optimistic regarding the willingness of eurozone nations to carry out the necessary reforms to repair the region's fractured financial system.
If the ongoing battle in Greece is any indication of the bloc's ability to come together and agree on similar fiscal objectives, there is going to be a bumpy road ahead.
See more from Benzinga
• Good Friday Not So Great, Thanks To Data
• BitPay Pulls College Football Sponsorship
• Bitcoin's Jail Stint Creates New Currency Offering
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin regulation is coming to New York: (REUTERS/Peter Nicholls)A bitcoin sticker is seen in the window of the 'Vape Lab' cafe, where it is possible to both use and purchase the bitcoin currency, in London March 24, 2015.
There's a new regulator in town.
Daniel Robertsat Fortunereports that Benjamin Lawsky, superintendent of the New York Department of Financial Services, is putting the finishing touches on BitLicense, a policy that "will require digital currency companies to obtain a license in order to transmit money on behalf of customers."
This means that the cryptocurrency is getting slightly more legit, though the Bitcoin community is unsurprisingly somewhat unhappy about that. While some people think that regulation is a way to wider acceptance, Bitcoin is by and large a community full of people with serious philosophical opposition to the mainstream system. That's why they created bitcoin.
From Fortune:
While some welcome [regulation] (such as those rolling outinsured exchanges) because it can bring the currency and the technology mainstream, many are more philosophically motivated, and were attracted to the space precisely because of its lack of regulation. The latter camp includes people like Roger Ver, nicknamed “Bitcoin Jesus,” who recently toldFortune,“Bernie Madoff… was regulated up and down and every which way, and it didn’t do any good, he ran away with everyone’s money… Without all the regulations, we could do so much more already.”
These bitcoiners should get together withJP Morgan's Jamie Dimon.
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• This guy has gamed the airline industry so he never has to pay for a flight again || Bitcoin In Minutes: Over 400 000 Locations Worldwide for Instant Buying and Selling Cryptocurrencies Added By 247exchange.com and MoneyPolo(TM): International Cryptocurrency and Bitcoin Exchange Platform 247exchange, Managed by InterMoney Exchange(TM), and Its Partner MoneyPolo(TM) Payment System Proudly Announce the Brand New Method of Buying and Selling Bitcoin Instantly Via Money Transfers
BELIZE CITY, BELIZE / ACCESSWIRE / April 28, 2015 /Bitcoin exchange service 247exchange.com and its partner MoneyPolo(TM) , large money transfer network, represent an innovative instant method of purchasing and withdrawing bitcoins -using express money transfer. The feature is available at more than 400,000 locations (including banks, post offices, shops, stores, money exchangers and so on) in about 130 countries. Having a bank account or credit/debit card is not necessary.
All that is required is cash, ID and a visit to one of almost half a million branches around the world to send an immediate transfer. Transforming cash into bitcoin and vice versa has never been so easy and fast.
"Our global aim is to make Bitcoin closer to average people, and cooperation with MoneyPolo(TM) makes a huge step on this way. It also seems like a perfect solution for buying/selling bitcoins for unbanked users and especially for people from developing countries having less local direct banking options. Speaking in general, our team is working hard to make the whole process as easy, as topping up the mobile phone balance. This is a challenge, but we believe we can make it!," Anton Vereshchagin, the founder, declares.
About 247exchange.com
247exchange is run by InterMoney Exchange(TM), a group of financial companies. The service offers various ways of buying, selling and exchanging cryptocurrencies paying special attention to instant methods.
"At the end of 2014 we integrated credit and debit cards support as an immediate method of buying bitcoins. However, until now we haven't had instant withdrawal methods (and there are not so many exchange services in the world who offers it). Judging by the feedback from our customers, they really missed such option. As a client oriented company we simply can't ignore that. Then we contacted MoneyPolo and made this promising partnership. I believe it's a real breakthrough in the whole cryptocurrency exchange business discovering the new opportunities for the users all over the globe," Alexey Maximenko, CEO, says.
About MoneyPolo(TM)
MoneyPolo(TM) is a registered trademark for Mayzus Financial Services Ltd. Since the company started its operations in 2009 it has been providing payment solutions, prepaid cards, foreign exchange operations for customer accounts as well as cash money transfers. MoneyPolo has customer branches in the UK, the Czech Republic, Mongolia and Philippines, while its partner offices spread throughout Europe, Asia, Latin America, North America. Africa and CIS countries. Since 2012 MoneyPolo service portfolio includes accounts and payments for cryptocurrency industry. The company proved to be a reliable and responsible partner for its some 150 000 customers. MoneyPolo is constantly increasing the availability of its services and expanding its wide network of more than 400,000 own and partner branches.
How it works
To purchase Bitcon and other cryptocurrencies (Litecoin, Namecoin, Peercoin) via an urgent money transfer, the user submits a buy order at247exchange.comwebsite. The list of available agents to send cash from will be indicated (for certain money transfer systems it is also possible to send money online). Bitcoins will be sent to the specified address just a few minutes after the transfer has been made.
To withdraw Bitcon and altcoins using an urgent money transfer, the person places a sell order at247exchange.com websitechoosing the nearest agent to receive fiat money from. The funds will be available for picking up in just few minutes. The customer can also transfer money to his relatives and close ones this way. In both cases the user can choose the currency. 24/7 support is always ready to help the customers. Detailed instructions are also provided for client's maximum convenience.
For more information about us, please visithttp://247exchange.com.
Contact Info:
Name: Andrey VereshchaginEmail:[email protected]: 247exchangeAddress: InterMoney Exchange Corp. 35 New Road, Belize city, Belize, C.APhone: +44 2070484188
SOURCE:247exchange
[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 15492.00 INR Sell : 15010.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 169.45£ $BTCGBP $btc #bitcoin 2015-04-03 06:00:05 BST || current #bitcoin price (kraken) is $222.73996, last changed Mon, 27 Apr 2015 14:13:00 GMT. queried at: 14:13:00 || Bitcoin traded at $223.15 USD on BTC-e at 11:00 AM Pacific Time || $233.53 at 00:17 UTC [24h Range: $229.87 - $234.90 Volume: 3983 BTC] || current #bitcoin price (winkdex) is $225.6, last changed Thu, 16 Apr 2015 09:19:00 GMT. queried at: 09:22:32 || buysellbitco.in #bitcoin price in INR, Buy : 15573.00 INR Sell : 15086.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || current #bitcoin price (winkdex) is $240.41, last changed Sun, 03 May 2015 09:53:00 GMT. queried at: 09:56:05 || In the last 10 mins, there were arb opps spanning 25 exchange pair(s), yielding profits ranging between $0.00 and $935.65 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15429.00 INR Sell : 14947.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
|
Trend: up || Prices: 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-06-24]
BTC Price: 21231.66, BTC RSI: 34.49
Gold Price: 1826.50, Gold RSI: 44.27
Oil Price: 107.62, Oil RSI: 42.26
[Random Sample of News (last 60 days)]
Bitcoin Forecast Price Must Hold $28,000 to Prevent Total Collapse: Bitcoin Head & Shoulder Top Bitcoin is hovering above critical support at $28,000. Breaking lower would establish completion of the head and shoulder topping pattern. The initial target is $20,000, with a reasonable possibility of reaching $12,500 later this year, possibly soon if we see another crypto flash crash. Bull Case To repair near-term sentiment, bitcoin must get back above $32,000 soon. Overall, Im bullish on blockchain and will look to accumulate assets during the washout. AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here . This article was originally posted on FX Empire More From FXEMPIRE: Three killed in Israeli aggression targeting southern Damascus -Syrian ministry Ex-Panama presidents sons get 3 years prison in Odebrecht bribery case Gold Posts Solid Gains for the Week as Market Participants Focus on the Economy Global stocks rebound despite unease over economy; dollar gains Moodys downgrades Ukraine to Caa3 on debt uncertainty Canada jury finds sword attacker guilty of 1st-degree murder -CBC || Binance CEO Says "Temporary" Pause in Withdrawals Due to "Stuck" Transaction: By Geoffrey Smith Investing.com -- Binance, the world's largest cryptocurrency exchange, has temporarily suspended client withdrawals of Bitcoin, Chief Executive Changpeng Zhao said via Twitter on Monday. Zhao blamed a "stuck transaction," which he said would take around 30 minutes to resolve. However, Zhao's first tweet was followed by another, half an hour later, saying that : "Likely this is going to take a bit longer to fix than my initial estimate." He promised more updates "soon." The suspension comes only hours after Celsius Network, one of the world's biggest crypto lenders, suspended withdrawals due to what it called "extreme market conditions." Celsius' news sent crypto enthusiasts rushing to get their money out, pushing Bitcoin down as much as 13% to its lowest in 18 months. Altcoins, such as Ethereum, Cardano, Solana and Dogecoin suffered even bigger losses. By 8:35 AM ET (1235 GMT), Bitcoin was trading at $24,211, down 12.2% on the day. Zhao added his habitual reassurance that "Funds are SAFU." The acronym SAFU stands for Secure Asset Fund for Users (SAFU), which is an emergency insurance fund established by Binance in July 2018 to protect users' funds. Binance seeded the fund with a percentage from its trading fees, hoping to build a reserve that would ensure the protection of user deposits. The Secure Asset Fund was valued at $1 billion based on the opening price on January 29, 2022. The value of the fund, however, fluctuates based on market conditions, as it is held in Bitcoin and in Binances own BNB tokens. At current market prices, they are worth just over $410 million. Related Articles Binance CEO Says "Temporary" Pause in Withdrawals Due to "Stuck" Transaction Bitcoin Collapse Puts Microstrategy's Potential Margin Call Front and Center Whales After Ripple: Millions of XRP Moved During the Weekend || Crypto optimist: Bitcoin to $1,000,000 by 2030 'pretty lofty' at this point: A long-time crypto optimist is questioning another's bullish long-term call on bitcoin prices amid the latest plunge in prices for digital currencies.
"I think that is pretty lofty," Valkyrie CEO Leah Waldsaid on Yahoo Finance Live(video above) when asked aboutCathie Wood's Ark Investcalling for bitcoin prices to reach $1 million by 2030 in its January 2022"Big Ideas" report.
"Bitcoin’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt as legal tender," Ark stated, listing several factors for its aggressive projection: (1) maturing bitcoin investor base focused on the long-term; (2) bitcoin taking market share as a global settlement network; and (3) institutional investors are being attracted to the space.
The $1,000,000 target is a rallying cry of sorts for the bitcoin faithful, especially during bouts of turbulence in the benchmark crypto —as is currently the case.
Ark has put its money where its research is by buying shares of Coinbase in 2022. Unfortunately for Ark, the bet on both Coinbase and bitcoin presently looks rather ill-timed.
Bitcoin pricesfell below $22,000 this week in a broader flight to safety in markets. The total value of the crypto market has plummeted to below $1 trillion, from roughly $3 trillion in late 2021.
Crypto-centric stocks such as the aforementioned Coinbase and Microstrategy continue to be hammered.
Coinbase, which is owned in byWood's flagship Ark Innovation ETF, recently froze hiring andannounced the the crypto trading platform would layoff 18% of its workforce.
"I think we will have to see if we hit that $1 million mark or continue going down for the next many, many years," Wald added. "But at the end of the day, one bitcoin is still equal to one bitcoin so trade accordingly and hedge appropriately."
Brian Sozziis an editor-at-large andanchor at Yahoo Finance. Follow Sozzi on Twitter@BrianSozziand onLinkedIn.
Click here for the latest crypto news, updates, values, prices, and more related to Bitcoin, Ethereum, Dogecoin, DeFi and NFTs
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Investing In Weakening Currencies: There’s no hard and fast rule on how a currency will perform during a recession. In fact, there have been many instances where currencies have appreciated during a recession, but it’s safer to assume that a currency will perform poorly, and potentially decrease in value. During recessions, a country often becomes a less attractive place to invest. As interest rates are often lowered to stimulate the economy, currencies in countries suffering through recessions have less appeal, and investors will exchange that weakening currency for those in stronger economies. When the recession started in 2008, the United Kingdom and its currency suffered as well. The pound sterling fell more than 25% from the prior year through mid-2009. In early 1980, the U.S. went into recession, but during this period, the value of the dollar rose, confounding those anticipating a decline. While it’s hard to predict how a currency will perform, there are ways to profit from their appreciation and devaluation. One way is foreign exchange trading, or forex. Certain currencies will inevitably decline as their national economies fail, while other more appealing currencies will rise. In forex, an investor is essentially playing the difference in performance between two currencies by going long one and short another in a currency pair. When the economy underlying the currency recovers, and as interest rates rise again, that country’s currency will strengthen and attract investors seeking to profit from the recovering economies’ rising currency. Therefore, anticipating that a country is about to enter a recession also prompts investors to anticipate that country’s interest rates will fall compared with other countries. Again, this would make that country less attractive for investors. Investment dollars are likely to leave the country in recession and move to countries with higher interest rates. If people move money out of the U.S., they will sell dollars and buy other currencies, causing a fall in the value of the dollar. Story continues Short-Currency ETFs In the world of ETFs, there’s an option for almost any investor perspective. And perspective is everything. Generally, investors will consider buying the currencies of countries whose economic condition is improving while selling the currency of weakening countries. Going “long” a currency—investing in it—is easy these days, with an abundance of long-currency ETFs available. Here are a few: Invesco CurrencyShares Euro Trust (FXE) WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) Invesco CurrencyShares Swiss Franc Trust (FXF) Invesco CurrencyShares Japanese Yen Trust (FXY) The flip side of this tactic is to short the currencies of countries whose economies are weakening and where interest rates are likely to be cut. Thankfully, there are plenty of choices to short currencies via ETFs as well. Here are several short-currency ETFs: Invesco DB US Dollar Index Bearish Fund ( UDN) ProShares UltraShort Australian Dollar ETF (CROC) ProShares Short Euro ETF (EUFX) ProShares Ultra Short Euro ETF (EUO) ProShares UltraShort Yen ETF (YCS) Ultimately, one needs to have a high level of confidence when deciding to short a currency with a short ETF, essentially as much as one who goes long a currency with the opposite perspective. For the very aggressive currency ETF investor, there are leveraged currency ETFs that will provide two or three times the return of the nonleveraged ETFs. The ones listed above with the word “Ultra” in their name are leveraged. If you decide to wade in that pool, just be careful—leverage is a risky thing. When you’re right ,it’s great, but being wrong can be devastating. Recommended Stories Worst Performing ETFs Of The Year Diving Into The Short Bitcoin ETF Short Bitcoin ETF Debuts At Best—Or Worst—Time Bitcoin Slide Hits Entire Crypto Ecosystem Permalink | © Copyright 2022 ETF.com. All rights reserved || Bitcoin Returns Above $30K, Resistance at $35K: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) held short-term support above $27,500 as buyers reacted tooversoldconditions on the charts. The cryptocurrency could faceresistanceat $35,000, which is where the current downtrend accelerated earlier this month.
BTC was trading at $30,100 at press time and was up by 3% over the past 24 hours.
The relative strength index (RSI) on the daily chart is rising from oversold levels, which could keep short-term buyers active. Further, short-term momentum is improving, similar to what occurred in early March, which preceded a brief relief rally in price.
A countertrend reversal signal, per theDeMARK indicators, appeared on BTC's daily chart on May 12 alongside major equity indices. That suggests a relief rally in speculative assets could delay additional breakdowns in price.
Still, BTC will need to register a weekly close above $30,000 (and above 4,000 for the S&P 500) to confirm short-term bullish signals. For now, upside appears to be limited because of negative momentum signals on the weekly and monthly charts. || Wednesday morning news briefing: Rwanda flight descends into farce: Wednesday morning UK news briefing: Today's top headlines from The Telegraph In the end, it came down to a late-night legal intervention. The first flight to deport migrants to Rwanda was halted after European human rights judges made an 11th-hour move . The European Court of Human Rights granted an urgent injunction to one of the asylum seekers to remove him from the flight, just hours after the UK Supreme Court had rejected his plea. The remaining six other migrants facing deportation then secured similar injunctions and the waiting £300,000 Boeing 747 charter flight was grounded. Home affairs editor Charles Hymas reports that it could mean all deportation flights to Rwanda are halted for weeks , until a judicial review, due by the end of July, has ruled if the policy is lawful. Yet Priti Patel, the Home Secretary, pledged that she would not be "deterred from doing the right thing", adding: "Preparation for the next flight begins now." The affair raises the prospect that ministers could reconsider membership of the European Convention on Human Rights to ensure the scheme can go ahead. Follow the fallout in our live blog . The crew of a Boeing 767 due to fly deported migrants to Rwanda board at MoD Boscombe Down air base yesterday. It has been chartered at a cost of £300,000 - Getty Meanwhile, Boris Johnson told his Cabinet ministers to "de-escalate" the war of words with Brussels over the Northern Ireland Protocol to avoid a trade war, political editor Ben Riley-Smith understands. The Prime Minister repeatedly used the phrase in yesterday's Cabinet as he discussed legislation to suspend parts of the agreement . The message was seen as an attempt to urge colleagues to lower the rhetoric as both Brussels and Washington DC continue to lobby London not to act alone. Do not travel on strike days, rail firms warn commuters This time next week, the rail system is likely to be paralysed. Commuters will be told not to travel by train as the entire network is expected to be crippled by the largest strike in more than 30 years . Train operating companies are today expected to urge people to avoid all travel next Tuesday, Thursday and Saturday as services will be drastically reduced. Network Rail plans to lay out a new schedule, with services cut by 80pc, and to announce that all journeys will have to be completed by 6.30pm. It will force schools and hospitals to urgently assess how they can continue to operate, with the risk of a return to online lessons and the cancellation of appointments. See our simple guide to the strike action . PS: Looking for a small solution to expensive commutes? See the tiny electric car that will take you to the office and back... for £20 a month. Secrets to booking the perfect flight ticket revealed In a further dose of travel misery, holidaymakers face more summer flight cancellations on the horizon after airlines were ordered to rip up their schedules in an admission that many flights are unlikely to go ahead. Story continues So what is the best way to avoid flight chaos? Greg Dickinson crunches the data and examines the patterns to flight cancellations to find the best airlines, airports, times and dates to avoid holiday hell. Daily dose of Matt In his latest cartoon , Matt makes light of the rail strikes. For a weekly behind-the-scenes look at Matt 's work, sign up for his newsletter . And see today's Blower cartoon . Also in the news: Today's other headlines 'Hypocrisy' | Labour's shadow chancellor had three students working for her office while only paying them expenses, The Telegraph can reveal. Rachel Reeves paid the students travel and lunch expenses but not a salary during the past academic year. Critics said the positions were in effect "unpaid internships" and accused Ms Reeves of hypocrisy given her robust criticism of it in the past. Maighna Nanu has our report . 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Comment and analysis Madeline Grant | Failure to capitalise on Brexit rallied detractors Alan Cochrane | The BBC is failing to hold the SNP to account Hannah Betts | We don't need magic mushrooms to face death James Titcomb | Crash shows Bitcoin's libertarian dream is over Reader letters | Bishops ignore economic motives behind migration Sport briefing: Bairstow's miracle on the Trent A full-throated full house at Trent Bridge revelled in Jonny Bairstow's blistering hundred that delivered one of the most memorable England Test wins of all time against New Zealand . Bairstow's 92-ball 136 audaciously seized the moment on a day when the gates were thrown open and fans flocked in for free. Tim Wigmore and Scyld Berry have our anatomy of the brilliant blitz – that fell just short of the record. And Michael Vaughan explains why this England team is to be feared . Editor's choice Fashion | The dos and don'ts of summer style for men – explained Wham! in China | The documentary George Michael didn't want you to see Influx of tourists | 'Not all of Whitby's second homeowners are outsiders' Business briefing: Plan to curb China's nuclear role The UK is poised to snub China's role in its nuclear ambitions under plans that will grant ministers the power to intervene in project decisions that pose a risk to national security. Kwasi Kwarteng, the Business Secretary, is pushing ahead with proposals that will grant the Government a "special share" in the planned Sizewell C station . Tonight's dinner Chorizo and courgette frying pan pizza | This method of cooking by Angela Hartnett produces a deep dish-style pizza, ready to add whatever mix of toppings you fancy. Travel: 10 amazing car-free villa holidays Securing a holiday hire car this summer has become even more stressful than usual. A perfect storm – a combination of the rising number of people travelling, car hire companies reducing their fleets and a lack of new cars being manufactured – means that holidaymakers are having to fork out considerably more than in the pre-pandemic era. But you do not need your own wheels to have a great summer break. Emma Beaumont has your guide to 10 amazing car-free villa holidays in Europe . And finally... for this morning's downtime 'It's like a child that wants to be loved' | The revelations of Blake Lemoine, the Google engineer who gave an interview accusing the company's AI chatbot of being "sentient", caused uproar. Charlotte Lytton spoke exclusively to him to find out more about LaMDA. If you want to receive twice-daily briefings like this by email, sign up to the Front Page newsletter here . For two-minute audio updates, try The Briefing - on podcasts, smart speakers and WhatsApp. View comments || 10 things before the opening bell: Happy Friday readers.The stock market just saw its worst day of the year. There's a lot of moving parts, and we're piecing it all together for you.
Let's get started.
If this was forwarded to you,sign up here. Download Insider's apphere.
1. E-commerce stocks were at the center of yesterday's crashafterlackluster earnings and weak guidancespooked investors. The broad sell-off in the sector also pulled shares of Amazon down as much as 7% Thursday.
As indexes cratered, one analyst warned that e-commerce troubles would keep pressure on tech shares. Angel investor Mike Ghaffary said investors should prepare for a bumpy ride ahead, and warned against holding out "false hope" theFed won't be overly aggressive.
Bitcoin, for its part, also cratered amid the broader sell-off, erasing any doubt that the cryptocurrency is highly correlated with risk assets.One analyst said the world's largest crypto by market cap could sink another 30%.
The stock market has whipsawed dramatically over the past two days.After theDow soared over 900 pointsafter Wednesday's Fed meeting,the index plunged over 1,100 pointsduring Thursday trading in what turned out to be theworst trading day of 2022.
The moveerased all of Wednesday's gainsfrom the big rally as investors took in the Fed's decision to raise interest rates by 50 basis points, but signaled bigger increases were off the table.
In other news:
2. US stock futures were down early Fridayafter arough-and-tumble couple days of trading. It comes ahead of the release of crucial US jobs data, amid growing concern over the economic outlook.Here are the latest moves on the market.
3. Earnings on deck:Under Armour, Broadwind Inc, and Draftkings,all reporting.
4. Morgan Stanley broke down two charts that show why the outlook for stocks is dim.Analysts at the firm think the S&P 500 could fall another 19% before the sell-off is over."This bear market is far from completed."
5. Hungary says an EU ban on Russian oil would be a 'nuclear bomb' for its economy.The Hungarian prime minister made the comment early on Friday as heopposed the EU's proposal to ban Russian oil. It comes as energy giant Shell warnedthe sanctions could be underminedregardless, as there are no systems that can trace Russian oil refined overseas.Here is the latest.
6. The US could still force Russia into defaulting on its debt in the coming weeks.That's according to a debt strategist from BlueBay. After narrowly missing a default this week, he explained why the danger is far from over for Russia —and why America has all the leverage.
7. Elon Musk and Cathie Wood agree that passive management's takeover of the investing world has gone too far.The pair took to Twitter to discuss the trend away from actively managed funds —and how it has prevented investors from reaping massive gains.
8. These are the best passive ways to earn crypto from a small amount of capital, according to the CEO of a blockchain investment firm.The options have varying risk levels and require an additional investment, but can yield results over time.See his three best ideas.
9. The boss of a $2.2 billion hedge fund laid out why he's moved virtually all his assets into cash.He's correctly called the last two big bear markets —and shared what he wants to see before buying back into the market.
10. China bought a lot of cheap oil at the start of the pandemic, and could look to snap up discounted barrels from Russia in the event of a full EU oil ban. It comes as one top analyst told Insider thatMoscow would soon need to search for alternative markets, like China, to sell its oil as the EU embargo bites. Here's why Moscow could turn to Beijing topick up the slack if Europe shuns Russian crude.
Keep up with the latest markets news throughout your day by checking outThe Refresh from Insider, a dynamic audio news brief from the Insider newsroom.Listen here.
Curated by Phil Rosen in New York. (Feedback or tips? [email protected] tweet@philrosenn.) Edited by Hallam Bullock (tweet@hallam_bullock) in London.
Read the original article onBusiness Insider || 7 Dividend Stocks Paying Over 5% to Buy Now: • Devon Energy(DVN) – Play the higher energy prices with this producer
• Gilead Sciences(GILD) – Rich pipeline a catalyst beyond Covid-19 drugs
• Honda Motor(HMC) – Strong electric vehicle plans through the year 2040
• Manulife Financial(MFC) – Strong insurance business and cash flow growth
• Rio Tinto(RIO) – Rising metal prices to lift cash flow and dividend
• Southern Copper(SCCO) – Higher copper prices will increase profits
• Vale(VALE) – Strong iron ore prices will lead to higher dividends
Source: Shutterstock
Investors should not simply look judge dividend stocks by yield alone. A stock’s dividend yield doesn’t make it a safe income investment.
Companies that have a strong gross margin, manageable debt-to-equity and profitability will likely outperform the markets in uncertain times.
After the economy overheated, the Federal Reserve changed its economic policy. Not only will the Fed raise rates, but it will also withdraw the excess money supporting the stock market. The Fed policy risks tipping the economy into a recession.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
• 7 Bear Market Stocks to Buy if You're Feeling Fearful
To compensate for the lower expected stock market returns ahead, investors should consider dividend stocks paying 5% or more.
The cyclical sector has the strongest potential. Raw material prices show no signs of falling. Companies may raise the prices and expand profit margins.
[{"DVN": "GILD", "Devon Energy": "Gilead Sciences", "$56.18": "$62.65"}, {"DVN": "HMC", "Devon Energy": "Honda Motor", "$56.18": "$26.46"}, {"DVN": "MFC", "Devon Energy": "Manulife Financial", "$56.18": "$20.25"}, {"DVN": "RIO", "Devon Energy": "Rio Tinto", "$56.18": "$70.84"}, {"DVN": "SCCO", "Devon Energy": "Southern Copper", "$56.18": "$64.29"}, {"DVN": "VALE", "Devon Energy": "Vale", "$56.18": "$16.18"}]
Source: Jeff Whyte / Shutterstock.com
Devon Energy(NYSE:DVN) is in a good position to expand production to take advantage of soaring gas prices.
The government could ask Devon Energy and other firms to increase output. This would decrease the U.S. dependence on oil imports.
To increase production, Devon Energy needs to raise its drilling activity. After getting a drilling rig on site, it could start extracting the oil. This would increase its project costs by 15% in 2022 but would more than pay off.
Crude prices will likely keep rising throughout this year. The global economy is growing, which increases oil demand. Russia’s invasion of Ukraine forced Western countries to impose sanctions.
Furthermore, many of those countries are working to reduce their reliance on Russian energy. This puts upward pressure on oil prices.
To hedge against inflation, investors should consider establishing an overweight position in energy stocks. DVN stock is a good quality stock.
Source: Sundry Photography / Shutterstock.com
Gilead Sciences(NASDAQ:GILD) gets very little attention for its drug developments.
Investor sentiment depends on Gilead’s remdesivir, a drug treating patients infected with Covid.
Earlier this year, Gilead released data demonstrating the effectiveness of remdesiviragainst ten Covid-19 variants, including Omicron.
• 7 Top-Rated Biotech Stocks to Buy for Q2
More recently, Gilead said that the Food and Drug Administration granted a label expansion for Yescarta, its first CAR T-celltherapy for treatingrelapsed or refractory large B-cell lymphoma. In 2021, Yescarta accounted for $406 million in sales in the U.S.
In March, Gilead reported phase-3 results of its TROPiCS-02 study. The study evaluated Trodelvy (sacituzumab govitecan-hziy) in patients with HR+/HER2- metastatic breast cancer.
The study met Gilead’s primary endpoint. GILD stock typically falls or does not react whenever it posts positive results. Still, GILD stock pays a dividend of close to 5%. Expect the yield to fall as the stock price resumes its uptrend.
Therefore, investors who buy the stock now secure a yield while earning capital gains for the long term.
Source: Jonathan Weiss / Shutterstock.com
Honda Motor(NYSE:HMC) is expanding its growth ambitions in the electric vehicle market.
This will ensure the company remains relevant as consumers shift to EVs. In the next 10 years, Honda plans to spend around8 trillion yenon research and development.
To accelerate its EV investments at low costs, Honda will partner withGeneral Motors(NYSE:GM). The plan is to sell a$30,000car with a 300 miles per charge range.
Honda needs GM’s battery technology, while GM needs to split its costs with a partner. The deal is a win-win for both companies.
Neither firm has a foothold in the EV market. It has a better chance of growing its market share and operating profitably through the partnership
Source: Shutterstock
When it reported quarterly results in February,Manulife Financial(NYSE:MFC) also hiked its dividend by 18%. The insurance firmbenefited from double-digit growth inannual premium equivalent (APE) sales.
Manulife benefited from scaling its business and growing across diverse markets in Asia. For example, in 2021, Manulife started a 16-year bancassurance partnership with VietinBank, the largest financial institution in Vietnam.
As a result, the firms offered a full suite of insurance, wealth and retirement products. Last year, Manulife posted a core return on equity of 13%. To sustain strong returns, expect the company to continue allocating its capital effectively.
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In Canada, Manulife introduced personalized medicine. Its customers have access to advanced pharmacogenetics. That way, plan members and their health team will find the most effective medication to treat their condition.
Onits conference call, President & Chief Executive Officer Rocco Gori said that the Federal Reserve’s rate hike would add $1.85 billion in embedded value to its fixed-income business.
Since higher rates are a tailwind for Manulife, investors should treat MFC stock as a hedge against the rate hike cycle.
Source: TTstudio / Shutterstock
Rio Tinto(NYSE:RIO) benefited from sanctions against Russia when it took full control of the Rusal Aluminapartnership in Australia. Rio already owns 80% of the project. The firm will benefit from record prices of alumina.
On April 9, Rio Tinto established a funding plan for the completion of the Oyu Tolgoi undergroundproject in Mongolia. This is a major milestone.
Once it completes development, Oyu Tolgoi will become one of the world’s largest copper mines. It also benefits the Mongolian economy.
In 2021,Rio Tinto posteda free cash flow of $17.7 billion. It earned $21.4 billion after paying taxes and government royalties worth $13 billion.
Rio also paid a special dividend, which represented a 79% payout. The miner’s strong cash flow suggests a strong dividend safety. It may potentially raise its dividend. The company’s management team is committed to growing and sustaining its portfolio. It is conscious of driving toward net-zero carbon emission.
Should metal prices remain high, RIO stock will continue on its sustained uptrend.
Source: ppart / Shutterstock
Southern Copper(NYSE:SCCO) posted strong results in the fourth quarter, lifted by higher metal pricesfor its main products.
This is despite lower sales volumes at its Peruvian operations. The company completed its bi-annual maintenance in the period.
In the next 10 years, Southern Copper wants to become the top producer. It targets 1.8 million tons of copper production. Investors can collect a dividend worth $4 a share while waiting.
• 7 Long-Term Stocks to Buy for a Robust Retirement
In addition, shareholders may ignore the near-term headwinds. For example, it faces some production disruption after protests in Peru. The company will eventually resolve the dispute but the uncertainty could pressure SCCO stock.
Investors should expect Southern’s cash flow growth momentum to accelerate. In 2021, it reported a historically high $4.29 billion in cash flow from operating activities.
This is a 54.2% year-over-year increase from 2020. Metal prices show no signs of slowing in their rise. Furthermore, the company is realizing efficiencies as it cuts costs.
Source: rafapress / Shutterstock.com
Vale(NYSE:VALE) shares benefited from an increase in iron ore prices. The higher price realization will help Vale work down its net debt.
In the last quarter, Executive Vice President Finance & Investor Relations Gustavo Pimenta said that Vale wants to work withnet debt of $15 billion.
Vale will continue to de-risk its business by rebalancing its portfolio. For example, it sold assets that cost $2 billion in cash annually. It is holding less risky assets. To enhance its EBITDA, Vale is buying back shares.
Vale is expanding its operating margins for its nickel business. After past investments, it will start realizing benefits from its sustaining capital.
In its copper business, Vale is growing its project pipeline with its copperdeposits in Alemão. Its copper mines in Hu’u have over two billion tonnes at 0.83% copper and 0.48 gram per ton of gold.
Vale may realize a very high production potential. At 350,000 tons of copper and 220,000 ounces of gold, Vale will have the strong cash flow to fund a growing dividend.
On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Dividend Stocks Paying Over 5% to Buy Nowappeared first onInvestorPlace. || Bitcoin (BTC) Remains Under Pressure Despite a Bullish Tuesday Session: Key Insights: On Tuesday, bitcoin (BTC) rose by 1.93% to end the day at $30,416. Resistance at $31,000 continued to be the key resistance level. The upside came despite the Bitcoin Fear & Greed Index falling to 8/100, the lowest level since a March 14, 2020 low of 8/100. Bitcoin (BTC) technical indicators flash red, with bitcoin sitting below the 50-day EMA. The NASDAQ supported a bitcoin ( BTC ) rise of 1.93% on Tuesday. Partially reversing a 4.66% slide from Monday, bitcoin ended the day at $30,416. A mixed session saw bitcoin rise to a day high of $30,744 before hitting reverse. Falling short of $31,000 and Mondays high of $31,296, bitcoin eased back to sub-$30,500. The upside came despite bearish sentiment lingering from the TerraUSD ( UST ) and Terra LUNA meltdowns of last week. Throughout the day, the NASDAQ 100 mini delivered support ahead of upbeat stats from the US that were also positive for riskier assets. Several key drivers are currently in play to test investor appetite. These include the threat of a shift in the regulatory landscape, the fear of a recession, Fed monetary policy, and the risk of another stablecoin collapse. The Bitcoin Fear & Greed Index Recovers from a 2022 Low of 8/100 This morning, the Fear & Greed Index rose from 8/100 to 12/100. While recovering from the lowest level since March 14, 2020, the Index remained deep in the Extreme Fear zone, reflecting the bearish sentiment across the crypto market. Fear & Greed Index While the demise of Terra LUNA and TerraUSD led to a weaker correlation between the NASDAQ 100 and bitcoin, a correlation remains in place. Bitcoin also responded to upbeat US retail sales and industrial production figures before easing back. BTCNASDAQ Daily Chart 1805 Bitcoin (BTC) Price Action At the time of writing, BTC was down 0.83% to $30,162. A mixed start to the day saw bitcoin rise to an early morning high of $30,674 before falling to a low of $30,158. BTCUSD 180522 Daily Chart Technical Indicators BTC will need to move through the $30,192 pivot to target the First Major Resistance Level at $30,969. Story continues BTC would need the broader crypto market to support a breakout from Tuesdays high of $30,744. An extended rally would test the Second Major Resistance Level at $31,510 and resistance at $32,000. The Third Major Resistance Level sits at $32,816. Failure to move through the pivot would test the First Major Support Level at $29,651. Barring another extended sell-off, BTC should steer clear of sub-$28,500 levels. The Second Major Support Level at $28,885 should limit the downside. BTCUSD 180522 Hourly Chart Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. BTC sits below the 50-day EMA, currently at $30,837. This morning, the 50-day pulled back from the 100-day EMA. The 100-day EMA fell back from the 200-day EMA; BTC negative. A move through the 50-day EMA would support a run at $35,000. BTCUSD 180522 4 Hourly Chart. This article was originally posted on FX Empire More From FXEMPIRE: Siemens Energy weighing bid for outstanding Siemens Gamesa stake US Stock Market Crash: How To Protect Capital And Profit With PrimeXBT? Aircraft leasing faces shake-up as risks cloud recovery Finland, Sweden apply to join NATO as Russia pummels Ukraine Thai industrial confidence at five-month low as costs rise APG, OMERS Infrastructure buy Dutch renewables firm Groendus || Hillicon Valley — Microsoft vows neutrality over Activision union efforts: Microsoft applied its new principles for employee organizing for the first time, saying it will not interfere with efforts from Activision Blizzard employees to unionize. And in cryptocurrency news, companies blocked users from withdrawing funds as the value of digital assets fell. This is Hillicon Valley , detailing all you need to know about tech and cyber news from Capitol Hill to Silicon Valley. Send tips to The Hill’s Rebecca Klar , Chris Mills Rodrigo and Ines Kagubare . Subscribe here. Union advocates secure win with Activision Blizzard Microsoft will not interfere with efforts by employees at Activision Blizzard to form unions, according to a neutrality agreement the company entered with the Communications Workers of America (CWA) on Monday. The agreement will apply at Activision Blizzard, the gaming company Microsoft is acquiring, beginning 60 days after Microsoft’s acquisition closes. Microsoft announced earlier this year that it would be buying Activision in a deal valued at nearly $70 billion. CWA had previously raised concerns regarding the acquisition, but the group’s president Chris Shelton said the agreement addresses those issues. “This agreement provides a pathway for Activision Blizzard workers to exercise their democratic rights to organize and collectively bargain after the close of the Microsoft acquisition and establishes a high road framework for employers in the games industry,” Shelton said in a statement. Just the ‘first’: Microsoft released principles for employee organizing and engagement with labor organizing earlier this month. The agreement for the Activision Blizzard acquisition is the company’s “first opportunity to put these principles into practice,” Microsoft president and vice chairman Brad Smith said. Read more here . Crypto firms halt withdrawals Cryptocurrency companies on Monday blocked users from withdrawing funds as the value of bitcoin and other prominent digital assets plunged. Story continues Crypto lending company Celsius Network announced late on Sunday night that it would freeze all withdrawals and transfers due to “extreme market conditions.” The move sparked an enormous selloff, with the price of bitcoin falling 12 percent to its lowest level since December 2020. Binance, the world’s largest crypto exchange by trading volume, said Monday morning that it was freezing some bitcoin withdrawals “due to a stuck transaction causing a backlog.” Changpeng Zhao, the firm’s CEO, tweeted that the fix would only take 30 minutes but later said that the problem was “going to take a bit longer to fix” than his initial estimate. Read more here . DEMOCRATS ASK FTC TO TACKLE FORMULA PRICE GOUGING Reps. Bobby Scott (D-Va.) and Frank Pallone Jr. (D-N.J.) have asked the Federal Trade Commission (FTC) to address online price gouging of baby formula during the nationwide shortage. The Democrats sent a letter on Monday requesting that the agency issue a public advisory to encourage online marketplaces to put measures in place to detect and prevent exploitative practices by third-party vendors selling infant formula. The FTC launched an inquiry into the formula shortage in May. The advisory for online marketplaces such as eBay, Facebook and Amazon would help complement the ongoing work being done to address the supply issue, the Democrats said. Read more here . GOOGLE ENGINEER ON LEAVE A Google engineer who argued that the company’s artificial intelligence (AI) is sentient has been placed on personal leave. A spokesperson for the company declined to elaborate on the reasons behind the suspension, noting that it is “a longstanding, private personnel matter.” Multiple news outlets have reported that Blake Lemoine, the senior software engineer from Google’s responsible AI team, violated the company’s confidentiality policy. Lemoine’s concerns reportedly grew out of his work with Google’s LaMDA model, which he grew to believe was sentient with feelings and emotions. Read more here . Drone deliveries coming to California Amazon will begin delivering orders in a California city by drone later this year, the company announced Monday. The trial in Lockeford, Calif., will be the first time a company uses drones for deliveries in the U.S. Amazon is planning to use the project to test out the service and receive feedback. Residents of the city, roughly 40 miles south of Sacramento, will be able to sign up for free drone delivery. Read more here . BITS & PIECES An op-ed to chew on: ‘Data Protection Review Court’ an idea worth expanding Lighter click: happy quarter century Notable links from around the web: The Fight to End ‘Cyberflashing’ (The New York Times / Valeria Safronova) What Bitcoin’s nosedive means for the environment (The Verge ? Justine Calma) Amazon calls cops, fires workers in attempts to stop unionization nationwide (The Washington Post / Caroline O’Donovan) One more thing: EV startup files for bankruptcy Electric Last Mile Solutions (ELMS), an electric vehicle startup, has announced it has filed for Chapter 7 bankruptcy . “Ultimately, the Board determined, following a comprehensive review with the assistance of the Company’s outside advisors, and upon the recommendation of the Company’s management, that it is in the best interest of the Company and the Company’s stockholders, stakeholders, creditors, and other interested parties to file for Chapter 7 relief,” ELMS said in a statement . The startup said a leadership team led by newly appointed interim CEO and President Shauna McIntyre had launched a review of the company’s products and commercialization plans and assessed its planned product offerings, production plans and certification processes. Read more here . That’s it for today, thanks for reading. Check out The Hill’s Technology and Cybersecurity pages for the latest news and coverage. We’ll see you tomorrow. VIEW THE FULL EDITION HERE For the latest news, weather, sports, and streaming video, head to The Hill.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21502.34, 21027.29, 20735.48, 20280.63, 20104.02, 19784.73, 19269.37, 19242.26, 19297.08, 20231.26
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
EUR/USD Daily Forecast – Test Of Resistance At 1.1720: EUR/USDis currently trying to settle above the resistance at 1.1720 while the U.S. dollar is under pressure against a broad basket of currencies.
The U.S. Dollar Index is currently testing the support level which is located at 93.40. If the U.S. Dollar Index manages to settle below this support level, it will head towards the next support at 93.10 which will be bullish for EUR/USD.
Today, EU will release flash Euro Area PMI reports for August.Euro Area Manufacturing PMIis projected to decline from 62.8 in July to 62 in August.Euro Area Services PMIis expected to remain unchanged at 59.8.
Traders will also have a chance to take a look at the flash reading ofEuro Area Consumer Confidencereport for August. Analysts expect that Consumer Confidence declined from -4.4 in July to -5 in August.
It should be noted that analyst estimates look optimistic despite worries about the impact of the new wave of coronavirus caused by the more contagious Delta variant. In case reports do not meet analyst expectations, the safe-haven U.S. dollar may get more support.
EUR/USD managed to settle above the resistance at 1.1690 and is testing the next resistance level at 1.1720. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
In case EUR/USD settles above the resistance at 1.1720, it will head towards the next resistance level which is located near the 20 EMA at 1.1750. A move above the 20 EMA will open the way to the test of the resistance at 1.1775. If EUR/USD gets above this level, it will head towards the next resistance at 1.1800.
On the support side, the previous resistance level at 1.1690 will serve as the first support level for EUR/USD. If EUR/USD manages to settle back below this level, it will get to another test of the support near the yearly lows at 1.1660.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• NZD/USD Forex Technical Analysis – Confirmation of Closing Price Reversal Bottom Shifts Momentum to Upside
• EUR/USD Daily Forecast – Test Of Resistance At 1.1720
• Natural Gas Price Fundamental Daily Forecast – Need to See More Short-Term Heat to Overcome $3.981 – $4.035
• Dogecoin Moves Higher As Bitcoin Tests New Highs
• Crude Oil Price Update – Forming Closing Price Reversal Bottom with $63.32 Potential Intraday Breakout Level
• Bitcoin Slams $50,000, First Time Since May || REPEAT - HIVE Blockchain Announces The Appointment of Aydin Kilic as President and Chief Operating Officer: This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. VANCOUVER, BC / ACCESSWIRE / August 19, 2021 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (NASDAQ:HVBT) (FSE:HBF) (the "Company" or "HIVE") is pleased to announce today that the Company has appointed Mr. Aydin Kilic as President and Chief Operations Officer. He will report to Executive Chairman Mr. Frank Holmes while overseeing all operational activities, across our facilities in Canada, Iceland and Sweden. "I have known Aydin for the past 3 years and have found his knowledge and experiences in Bitcoin mining and Data Center Management invaluable" said Executive Chairman Frank Holmes. Aydin Kilic has a 20-year career as an entrepreneur and electrical engineer with expertise in cryptocurrency, capital markets, real-estate development and scientific research. Mr. Kilic founded Fortress Blockchain Corp. in 2017 a Canadian public company in the blockchain industry mining BTC. Further, Aydin Kilic will bring to the Hive team a comprehensive understanding of Canadian securities laws, public company audit demands, ESG investing and exchange rules governing publicly traded crypto mining companies. Further, Mr. Kilic has both a degree in Electrical Engineering and deep experiences in the Bitcoin mining ecosystem. Additionally, Mr. Kilic lead real-estate development projects valued at over $150 million CAD through large re-zoning and permitting processes. He has secured over $100 million in project and construction financing from Canadian banks, in addition to overseeing the successful acquisition of over $100 million of real property transactions. Prior to this, Mr. Kilic worked professionally as a radio frequency (RF) engineer at Sierra Wireless, where he conducted research in electromagnetic science and worked in product development of compact broadband antennas for wireless wide area network (WWAN) cellular devices, collaborating globally with leading test laboratories in France and California. Story continues Mr. Kilic holds a degree in Engineering Science (Honours) from Simon Fraser University, having specialized in high-frequency electronics and time-variant 3D electromagnetics. In addition, he holds a black-belt in martial arts. Mr. Kilic's has a diverse background and a tremendous amount of accumulated experience and expertise which will continue to propel HIVE forward during these periods of rapid growth. We look forward to welcoming him aboard. About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020. We encourage you to visit HIVE's YouTube channel here to learn more about HIVE. For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com . Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel . On Behalf of HIVE Blockchain Technologies Ltd. "Frank Holmes" Executive Chairman For further information please contact: Frank Holmes Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com . The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. SOURCE: Hive Blockchain Technologies Ltd View source version on accesswire.com: https://www.accesswire.com/660463/REPEAT--HIVE-Blockchain-Announces-The-Appointment-of-Aydin-Kilic-as-President-and-Chief-Operating-Officer || Silver Price Daily Forecast – Resistance At $24.00 In Sight: Silveris currently moving towards the resistance level at $24.00 while the U.S. dollar is losing some ground against a broad basket of currencies.
The U.S. Dollar Index is trying to get to the test of the support at the 20 EMA at 92.85. In case the U.S. Dollar Index manages to settle below this level, it will gain additional downside momentum and move towards the next material support level at the 50 EMA near 92.40 which will be bullish for silver and gold price today. Weak dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.
Meanwhile,goldmanaged to get above the $1800 level and is trying to get above $1810. The next significant resistance level for gold is located at $1830. In case gold gets to the test of this level, silver will get more support.
Gold/silver ratio continues to move lower which is bullish for silver. Currently, gold/silver ratio is testing the support level at 75.65. In case this test is successful, gold/silver ratio will move towards the 75 level which will provide additional support to silver.
Silver managed to get above the resistance at $23.80 and is trying to get to the test of the next resistance level at $24.00. If silver manages to settle above this level, it will head towards the resistance at $24.20.
A successful test of the resistance at $24.20 will push silver towards the resistance at $24.50. In case silver gets above this level, it will head towards the next resistance at $24.70.
On the support side, a move below $23.80 will push silver back towards the support level at $23.50. If silver declines below this level, it will head towards the support at $23.20. A move below the support at $23.20 will open the way to the test of the next support level which is located at $22.90.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Silver Price Daily Forecast – Resistance At $24.00 In Sight
• Crude Oil Price Forecast – Crude Oil Markets Continue to Shoot Higher
• AUD/USD Price Forecast – Australian Dollar Powers Higher
• MicroStrategy Buys More Bitcoin Near Peak Levels
• GBP/JPY Price Forecast – British Pound Gives Up Early Gains Against Yen
• USD/JPY Price Forecast – US Dollar Fades at 50 Day EMA || US stocks bounce back after tech sell-off drives biggest loss since May: • US stocks recovered after a sell-off that drove the market to its biggest loss since May.
• The 10-year US Treasury yield fell around 1.1 basis points to 1.525% after rising to its highest since the end of June.
• Bitcoin and gold rose, while oil slipped.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
US stocks bounced back Wednesday after a massive tech sell-off in the previous session drove the stock market to its biggest decline in months.
The benchmark S&P 500 rose Wednesday after it closed lower by 2% to its worst one-day performance since May. The tech-heavy Nasdaq and the Dow Jones Industrial Average also gained.
Here's where US indexes stood at the 9:30 a.m. ET open on Wednesday:
• S&P 500:4,372.50, up 0.46%
• Dow Jones Industrial Average:34,435.69, up 0.4% (135.70 points)
• Nasdaq Composite:14,630.31, up 0.57%
The 10-year US Treasury yield shed around 1.1 basis points to 1.525% after rising to 1.534%, its highest since the end of June after Federal Reserve officials signaled the possibility of scaling back its support for the economy as early as November. Meanwhile, the five-year rate fell below 1%.
Tech stocks are the most sensitive to changes in bond yields, which explains Tuesday's rout. A rise in global bond yields makes the returns on stocks look less attractive.
The US debt ceiling crisis is also spooking investors this week.
Senate Republicans Monday nightstruck downa bill thatpassedthe House that would haveraised the debt ceilingand prevented a government shutdown.
Democrats, meanwhile, are rushing to raise the government's $28.4 trillion borrowing limit. They have untilOctober 18to do so.
Treasury Secretary Janet Yellen, who reiterated her call for bipartisanship, told lawmakers she would try to exhaust extraordinary measures if Congress didn't act to raise or suspend the debt limit by that date.
Bitcoinon Wednesday rose 1.2% to $42,287 after falling the previous two days.
Oil prices scaled back aftersoaring above $80for the first time in three years as a shortage in natural gas spurs demand.
West Texas Intermediate crudeoil slipped 0.70% to $74.76 per barrel.Brent crude, oil's international benchmark, fell 0.85% to $78.42 per barrel.
Goldrose as much as 0.21%, to $1,739.08 per ounce.
Read the original article onBusiness Insider || Bitcoin Tests Resistance At The 20 EMA: Bitcoinis currently trying to settle above the 20 EMA at $47,100 while other cryptocurrencies are mostly flat as traders wait for the results of this test.Ethereumis testing the resistance at $3,400.Dogecoinis trying to settle back above $0.24 whileXRPis stuck near $1.09.
Bitcoin has been volatile in recent trading sessions after a fake press release stated that Walmart would partner with Litecoin. This press release was quickly refuted, and Bitcoin found itself under pressure.
However, Bitcoin received support near $44,000 and gained upside momentum as traders rushed to purchase Bitcoin after the pullback. If Bitcoin manages to settle above the 20 EMA and moves closer to the psychologically important $50,000 level, other cryptocurrencies will get more support.
Bitcoin is currently testing the resistance level at the 20 EMA. In case this test is successful, it will head towards the next resistance at $48,000. A move above this level will push Bitcoin towards the major resistance at $50,000.
In case Bitcoin manages to settle above the psychologically important resistance level at $50,000, it will gain additional upside momentum and head towards the resistance at $51,500. A successful test of this level will push Bitcoin towards the next resistance which is located near the recent highs at $53,000.
On the support side, a move below $47,000 will push Bitcoin back towards the support at $46,000. If Bitcoin settles below this level, it will move towards the support at the 50 EMA near $45,200.
A successful test of the support at the 50 EMA will open the way to the test of the next support at $44,000. In case Bitcoin declines below this level, it will head towards the next support which is located near the recent lows at $42,600.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Stocks Mixed After Yesterday’s Pullback
• Walmart Partners With Ford And Argo AI To Test Self-Driving Cars In Multiple Cities
• EUR/USD Daily Forecast – Support At 1.1800 Stays Strong
• Roller-Coaster Scenario With U.S. Dollar
• Bitcoin Tests Resistance At The 20 EMA
• US Stock Index Futures Cautiously Higher as September Correction Looms || Investview (“INVU”) Reports $2.8 Million Month in Bitcoin Mining Gross Revenue & Announces Operations Update for July 2021: Eatontown, NJ, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Investview, Inc. (OTCQB: INVU), a diversified financial technology company that through its subsidiaries and global distribution network provides financial technology, education tools, content, research, and management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets, announces its Bitcoin (“BTC“) production and digital asset holdings for July 2021, and an operations update.
July 2021BTCProductionand Digital Asset Holdings
• Gross Revenue of $2.8 million, up 250% Year-Over-Year July
• Gross Profit of $2.2 million, up 633% Year-Over-Year July
• Gross Profit Margin of 79%
• Bitcoin Mined over 15 months period ending July 2021, 1,003.08 BTC
• As of July 31, 2021, Investview holds over 122.75 BTC
• As of July 31, 2021, Investview holds over 153,789.31 NDAU
Operations Update: Hash Rate Growth Plan
In July 2021, SAFETek expanded its fleet of Bitcoin miners with the purchase of 1,200 Bitmain T17+ Antminers. The expansion to SAFETek’s fleet of miners is expected to be fully deployed by mid-September 2021. This will grow SAFETek’s existing fleet of Bitcoin miners to approximately 10,000 miners. As a result, SAFETek’s hashrate capacity is estimated to grow by 22% or 70 petahash per second (PH/s) to a total hashrate of nearly 400 PH/s.
Note: The numbers included in this release are initial expected results and are un-audited and may differ from numbers reported in our SEC filings due to compliance withUS GAAP andare subject to final review by the Company’s independent auditors. Final audited financial statements can be found in our annual SEC Form 10-K filings.
About Investview, Inc.
Investview, Inc. is a diversified financial technology and global distributor organization that operates through its subsidiaries to provide financial education tools, content, research, and management of digital asset technology that mines cryptocurrencies, with a focus on Bitcoin mining and the next generation of digital assets. Investview – driving decentralization of education and finance through a commitment to blockchain technology. For more information on Investview and its family of wholly owned subsidiaries, please visit:www.investview.com.
Forward-Looking Statements
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may,” “should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. These forward-looking statements are based on Investview’s current beliefs and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. More information on potential factors that could affect Investview’s financial results is included from time to time in Investview’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak only as of the date of this release, and Investview, Inc. (“INVU”) assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
Investor RelationsContact: Arthur RomePhone Number: 732.889.4308Email:[email protected] || Blockstream Energy Could Let Bitcoin Miners Set Up Anywhere There’s a Power Source: Bitcoin and blockchain infrastructure company Blockstream has introduced Blockstream Energy, its new service for energy producers to sell excess electricity to proof-of-work miners. Combined with connectivity provided by the Blockstream satellite, the new service is designed to expand the potential reach ofbitcoinmining to renewable energy sources even in remote locations.
Blockstream Mining provides bitcoin mining equipment to institutional and enterprise customers. It also offers hosting services where it deploys mining equipment and then turns over full control of the rigs to the customer.
Blockstream Energy utilizes modular mining units (MMUs), which are essentially independent mining facilities that can be operated remotely. Power producers like turbine or nuclear power plant owners can sell energy to the operators of these MMUs that otherwise would have gone unused.
Related:Market Wrap: Bitcoin Buyers Could Take Profits as Volume Declines
“For the first time, energy producers can control and scale demand to meet their supply. This incredibly powerful tool can be used to make existing electrical grids far more efficient while also significantly improving the economics of renewable energy projects,” said Chris Cook, CIO and head of mining at Blockstream.
Energy producers can use Blockstream MMUs for a variety of purposes including balancing electric grids and improving carbon trading strategies. Since MMUs can be shipped globally and are plug-and-play, many renewable energy mixes can fuel them. Blockstream deploys these MMUs to energy production sites in order to enable scalable and dynamically adjustable energy demand.
“Much of the world’s usable renewable sources are concentrated in remote locations where there is little local demand and not much surrounding infrastructure,” said Adam Back, chief executive officer at Blockstream.
The global Blockstream Satellite network can connect to MMUs anywhere in the world and allow their operators to manage them remotely, opening up the potential for them to situate their operations at sites isolated from high-demand civilian or commercial power infrastructures. Renewable energy generation facilities, therefore, can locate in a variety of locations, such as near isolated waterfalls or volcanos, and take advantage of profitable energy sources that might otherwise be inaccessible.
Related:Bitfarms Increases Revenue by Almost 400% in Q2
Recently, Blockstream has come out with a series of announcements pursuing renewable energy in bitcoin mining. In March, it announced a partnership with energy infrastructure company Aker and a $5 million open source deal with Square.
• Market Wrap: Bitcoin Rally Expected to Pause
• These North American Bitcoin Firms Mined 59% More Bitcoin in July || Dogecoin Looks Ready To Move Higher: Dogecoin Gains Ground While Bitcoin Stays Near $46,000 Dogecoin is currently trying to settle above $0.26 while Bitcoin pulls back after yesterday’s rally. Bitcoin managed to settle above the resistance at $44,000 and tested the next resistance level at $46,000. Bitcoin failed to settle above $46,000 during the first test of this resistance level, but it will likely continue its attempts to settle above this level as the upside momentum remains strong. Meanwhile, Ethereum continues its upside move. Currently, Ethereum is trying to settle above the resistance level at $3125. XRP is testing the resistance at $0.82. In general, the market mood remains bullish, which is positive for all cryptocurrencies, including Dogecoin. Bitcoin’s move above the resistance area at $40,000 – $42,000 served as a key catalyst for crypto markets, and it looks that traders will try to push cryptocurrencies to new highs in the upcoming trading sessions. Trade Dogecoin with eToro Technical Analysis Dogecoin received support near $0.25 and is trying to move above $0.26. In case this attempt is successful, Dogecoin will get to the test of the nearest significant resistance level at $0.2630. A move above the resistance at $0.2630 will open the way to the test of the next resistance level which is located at $0.2670. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If Dogecoin gets above the resistance at $0.2670, it will head towards the next resistance at $0.2750. No important levels were formed between $0.2670 and $0.2750 so this move may be fast. On the support side, the previous resistance level at $0.25 will serve as the first support level for Dogecoin. In case Dogecoin declines below the support at $0.25, it will head towards the next support level at $0.24. A successful test of the support at $0.24 will push Dogecoin towards the support at $0.2350. From a big picture point of view, the trading volume has increased materially in recent days which indicates that Dogecoin has attracted significant interest and has good chances to continue its upside move. Story continues For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 10th, 2021 Economic Sentiment Wanes in the Eurozone, Weighing on the EUR USD/JPY Fundamental Daily Forecast – Japan Reports Trade Surplus, But Investors Focusing on US Inflation Data EUR/USD Daily Forecast – Support At 1.1720 In Sight Economic Data from the Eurozone and the U.S Keep the EUR and the Dollar in Focus Price of Gold Fundamental Daily Forecast – Seeing Position-Squaring Bump Ahead of Wednesday’s CPI Report || LM Funding Expands Into Cryptocurrency Mining Business: Purchases 1,000 Bitcoin S19J Pro Antminers from Bitmain for $6.3 Million First delivery of the pro miner machines is expected during the second quarter of 2022 TAMPA, Fla., Sept. 15, 2021 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ:LMFA) ("LM Funding" or "LMFA") today announced that it is expanding and diversifying its business operations by launching a cryptocurrency mining business. In furtherance of this move, LMFA announced the purchase of 1,000 S19J Pro Miner Machines (S19J) (100 TH/s) from Bitmain for total purchase price of $6.3 million. The S19J is a high efficiency, high hash rate machine mining SHA-256 algorithm produced by Bitmain that generates a maximum hash rate of 100 TH/s and has a power consumption of 3,000 W. Bruce M. Rodgers, Chairman and CEO of LM Funding, commented, In April, we announced our intention to purchase up to $2 million in digital assets as part of our capital allocation strategy. After careful consideration and due diligence, we also believe that mining for bitcoin ourselves is a cost effective way to purchase the asset at a risk-adjusted exposure to the ecosystem while generating positive operating income. For our initial investment of 1,000 machines, our purchase price will range between $6,000 to $6,500 per machine as compared to $11,000 to $15,000 per machine currently available on the spot market. We believe that buying the machines at scale, as we have done, significantly increases our expected margin per bitcoin and potentially de-risks our exposure to downward Bitcoin price volatility. LM Funding has established a new subsidiary, US Digital Mining and Hosting Co., LLC, to operate the new mining business and is in the process of establishing a data center to host the pro miner machines. The Company expects all 1,000 newly purchased miners to be delivered between the second and third quarter of 2022, and the Company anticipates the cryptocurrency mining operations could commence as soon as the second quarter of 2022. The Company is pursuing opportunities to accelerate the start of its mining operations. Story continues Mr. Rodgers continued, We believe that Chinas exit from Bitcoin mining has created an opportunity for U.S. public companies like ours to enter Bitcoin mining to take advantage of our low cost of capital, reliable and affordable energy supply, and stable regulatory and corporate environment. We believe Bitcoin mining operations will provide opportunities to vertically integrate our operations in hosting, finance, and other areas of the Bitcoin ecosystem. About LM Funding America: LM Funding America, Inc., together with its subsidiaries, is a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado and Illinois, by funding a certain portion of the associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments. LMFA has also announced that it is entering the cryptocurrency mining business through a new subsidiary, US Digital Mining and Hosting Co., LLC. Forward-Looking Statements: This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, believe, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the COVID-19 pandemic, the risks of entering into and operating in the cryptocurrency mining business, our ability to acquire new accounts in our specialty finance business at appropriate prices, the need for capital, our ability to hire and retain new employees, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations. Company Contact: Bruce M. Rodgers, Chairman and CEO LM Funding America, Inc. Tel (813) 222-8996 [email protected] || MOS Set to Launch on August 25th: BERLIN, GERMANY / ACCESSWIRE / August 20, 2021 /MOS, the new Proof-of-Stake based staking investment project cryptocurrency enthusiasts is set to launch on the 25thof August, which could replace banks' certified deposit. Since 1960, the First National City Bank of New York (now Citibank) had invented the revolutionary Certified Deposit (CD) investment product. Its fixed return attracted investors and raised funds for banks to operate their lendings and investments.
Certified Deposit had remained popular all these years, but by the 21st century, the gains from the interest rates of the conventional Certified Deposit could not keep up with the asset depreciation caused by currency inflation. The Cryptocurrency industry and Defi world had invented a 'Staking' investment that mimicked the Certified Deposit model, but with a better design and return rate.
One of these 'Staking' Defi investment projects known as MOS, it is a High-Yield Time-Locked Deposit that works just like traditional banks' Certified Deposit, but with a higher return rate, asset growth, flexibility and convenience. It's an upcoming cryptocurrency investment that is designed to grow in value.
What is MOS Staking?
MOS, the High-Yield Time-Locked Deposit shares some basic concepts of Certified Deposit, investors save their crypto-assets on the platform for the desired length of time, in exchange for high-yielding defined returns. This is a less volatile alternative for average investors to approach cryptocurrency and makes it another income stream, just like how they do with a conventional CD (certified deposit).
The crucial element that makes MOS stands out is that MOS features a 7.8% annual yield, where conventional investments find it hard to match.
The way MOS works is simple and focused. Investors buy $MOS and enter into a smart contract where they agree to hold on to their MOS and stake for a set period. The MOS network will reward the stakers (staking investors) with an agreed % of interest growth.
The MOS network will hold a daily auction of $MOS available from a limited supply throughout the entire launching phase. Buyers bid for $MOS using USDT, with payouts determined by their ultimate portion among the total bid pool. The auction proceeds are used to buy $MOS at a better rate as compared to major Decentralised Exchanges.
In this way, the daily auction's sale produces an upward drive to $MOS value, promoting $MOS value appreciation for the stakers and holders.
MOS Staking Interests
A fundamental element in staking $MOS is that people's interest payout will increase proportionally to the longer period they stake, or the larger the amount they stake.
Secondly, users' stake will generate sustaining interests while their stake is active. Users will receive dividend-gaining M-shares that receives interest payout from a minimum of 7.8% to 780% based on the size of the staked pool on a daily basis.
Thirdly, two exclusive bonuses known as Gifting Bonus 1 and 2 will be awarded to stakers who staked during the launch phase and surpassed or meet the bonus release day on 365th(1st year) and 730th day (2nd year). That means being an early stakers in $MOS will be entitled to the once in lifetime exclusive Gifting Bonuses!
Gifting Bonus 1 pays a minimum of 19billion $MOS and Gifting Bonus 2 pays a minimum of 20billion $MOS; plus, some unclaimed $MOS from other allocations and penalties will continue to be added to the Gifting Bonus Pool throughout the year.
MOS Preventative Structure
MOS has adopted an early-revocation penalty for the stakers who ends their staking contract prematurely. This discourages stakers from early termination/ withdrawal to capitalise on the higher MOS value with a massive sell-off. This structure reduces the worries of massive selloff price volatility that comes with conventional cryptocurrencies.
Additionally, MOS adopted a scaling interest system that pays additional rewards and interests for long-term stakeholders. The longer users remain staked, or the larger the staked amount, the better interests they earn.
The early-revocation penalty prevents anyone from hodling too much of $MOS's total supply to manipulate the market. In many ways, it's a self-correcting arrangement that delivers strong returns to all stakers & holders involved, a system built to benefit all with stability and predictable returns.
Limited Supply Pushes Demand
The crucial thing that makes Bitcoin different from Dogecoin is that Bitcoin has limited supply but Dogecoin didn't. Bitcoin is scarce and valuable, while there are trillions of Doge to be disposed of.
Since its inception, MOS was designed in a limited supply structure, this is to limit the inflation factor and keep the demand driving. When the user stakes $MOS, the $MOS will be locked away in a staking contract and would not be in circulation until it is matured.
Secondly, there will be only 7.8% of $MOS being newly minted every year across the whole network as the annual percentage yield (APY) paid to the stakers.
By limiting the overall supply, it will become a positive upward pressure to $MOS price as Stakers are paid to HODL.
The Community Believes In MOS, MOS Launches on 25thAugust 2021
MOS, the new Proof-of-Stake based staking investment project cryptocurrency enthusiasts is set to launch on the 25thof August 2021 UTC 12:00. With the crypto industry and investors interested in another staking platform, MOS is potentially one of users' best next staking investment crypto assets opportunities.
'At MOS our community is supportive in our potential staking interests and project growth. We are seeing an ever-increasing likelihood that Proof-of-Stake based blockchain network will achieve broad adoption and value appreciation. We are excited to offer this opportunity to our community'
Right until now, the Ethereum network based cryptocurrency assets are not an easy asset to get a hold of, due to the high Ethereum gas fee and high entry fee of the existing staking platform. MOS intends to add value and significant returns for our community by launching a new staking investment opportunity with an accessible entry-level, combined with continuous interest dividends, and quick asset growth.
Plus, MOS is built on the TRON network which has a much lower transaction fee, matching adaptable blockchain network, secured PoS Blockchain network, and fast-growing Dapps ecosystem.
'The adoption of cryptocurrency as an investment product is escalating, especially the demand for staking, we expect this trend to be long-term in nature, due to the structure of continuous asset growth and interest dividends of staking projects such as MOS.'
Last month, MOS held its Senatus Round (Early-Sale Round), it received enormous attention and excitement from the community. This reflects that a huge part of the community is eager to be a part of MOS especially learning the advantages of staking and its unique design in $MOS. The official launch on 25th August will be a highly anticipated day for MOS and our community.
Eager to learn more about MOS?Stay tuned to MOS's social media：
Facebook:https://www.facebook.com/themos.ioTwitter:https://twitter.com/themos_ioInstagram:https://www.instagram.com/themos.io/
Media Contact
Company: Themos LLCContact: Schneider Becker, Marketing DirectorTelephone: +49 171 253 5849Email:[email protected]:https://themos.io/Address: Fasanenstraße 33, 10719 Berlin, Germany
SOURCE:Themos LLC
View source version on accesswire.com:https://www.accesswire.com/660676/MOS-Set-to-Launch-on-August-25th
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-05-14]
BTC Price: 8716.79, BTC RSI: 46.89
Gold Price: 1316.50, Gold RSI: 46.30
Oil Price: 70.96, Oil RSI: 63.16
[Random Sample of News (last 60 days)]
Criminal Bitcoin Trader Found Guilty of Money Laundering in Arizona: Though many convicted criminals serve time and receive help reforming, for one Bitcoin trader, his record continues to grow from felony marijuana charges to money laundering.
First reported by CCN earlier as an “unlicensed money transmitting business,” it appears as though Thomas Mario Costanzo, who often goes by ‘Morpheus Titania,’ hasn’t yet learned his lesson in following the law, including legal Bitcoin trading, and now awaits his June sentencing regarding yesterday’s trial.
Participating in Costanzo’s investigation, begun in 2014, were the IRS, DEA, USPS, Scottsdale Police Department, U.S. Immigration and Customs Enforcement Homeland Security Investigations, and Maricopa County Sheriff’s Office. A Phoenix federal jury has now found the Arizona resident guilty offive counts of money laundering.
Trading Bitcoin with undercover agents, Costanzo encouraged cryptocurrency as a means of purchasing illegal drugs. Without providing transparency about transactions, crypto was promoted as a way to limit exposure with law enforcement.
Found guilty of exchanging nearly $165,000 from alleged drug traffickers (undercover federal agents) over the course of two years, Costanzo failed to identify his customers. He also concealed proceeds and charged anywhere from seven to ten percent commission for peer-to-peer transactions, rather than functioning within the legal limits for online exchange.
According to Arizona’sHB2417bill, passed last spring:
“SMART CONTRACTS MAY EXIST IN COMMERCE. A CONTRACT RELATING TO A 36 TRANSACTION MAY NOT BE DENIED LEGAL EFFECT, VALIDITY OR ENFORCEABILITY 37 SOLELY BECAUSE THAT CONTRACT CONTAINS A SMART CONTRACT TERM.”
But while Bitcoin, and alt crypto, transactions are legal in the state, it would be expected that residents trade in accordance with the law. At minimum, doing so would help Arizona residents avoid twenty-year prison sentences and quarter-million-dollar fines per conviction, like those potentially awaiting Costanzo.
As CCN correspondent P. H. Madore wrote in July, 2017, “people like Costanzo are not the norm in Bitcoin trading.” Whatisthe norm in Bitcoin trading is following the confines of the law to the best of one’s ability.
Though this is a case of one criminal using Bitcoin in an illegal manner, it gives an unnecessarily bad name to cryptocurrencies, especially in a time when their validity and the governance thereof is in question.
There’s too much fear-driven propaganda already, and those interested in Bitcoin or alt trading need to remember breaking the law isn’t what cryptocurrencies were designed for. And just because one man can’t manage to govern himself, the future of crypto is not at risk.
Even for those questioning the SEC’s inquiries into crypto regulations, regulations such as Know-Your-Customer (KYC) verifications serve to protect all involved, necessary when it comes to potential trading with criminals such as Costanzo.
Featured image from Shutterstock.
The postCriminal Bitcoin Trader Found Guilty of Money Laundering in Arizonaappeared first onCCN. || What Is Ether?: Ether is the underlying token powering the Ethereum blockchain, but it serves a slightly different purpose than bitcoin does to the Bitcoin blockchain. Although ether is traded on public markets and has displayed price appreciation similar to bitcoin, they are quite different by design. Ether is not intended to be a unit of currency on a peer-to-peer payment network; rather, it acts as the “fuel” or “gas” that powers the Ethereum network.
At the highest level, Ethereum is an open-source platform that runs smart contracts. When smart contracts are run on a blockchain, they become self-executing when certain conditions are met. The execution of smart contracts requires computational resources that must be paid for in some way: this is where ether comes in.
Ether is the crypto-fuel allowing smart contracts to run. It provides the incentive for nodes to validate blocks on the Ethereum blockchain, which contains the smart contract code. Every time a block is validated, 5 ethers are created and awarded to the successful node. A new block is propagated roughly every 15–17 seconds. Some nodes may find the correct solution to a block without having it included in the network. The Ethereum network rewards these nodes with 2–3 ethers.
Individuals interacting with decentralized applications on the Ethereum platform will have to pay the network in ether for the use. Developers are incentivized to create these decentralized applications because they will be paid in ether for their work. Developers are also incentivized to write quality applications because wasteful applications will be more expensive and likely will not be used as frequently as better alternatives.
Using this information, the narrative around ether becomes more clear. Its final use will most likely be abstracted by basic button clicking, but assuming Ethereum becomes widely used, ether will be rapidly moving between users and miners. Its value is directly tied to the use of the Ethereum blockchain.
The total supply of ether is not capped like the total supply of bitcoin. 60 million ether were created during the initial crowdsale, 12 million of which went to early backers and the Ethereum Foundation. Most of the money raised will be used to fund future development initiatives.
Ether’s issuance model is unique in that it does not emphasize deflation like most other popular cryptographic assets. Initially, issuance of ether was capped at 18 million per year, which is 25 percent of the initial supply raised in the crowdsale. But more recently, Vitalik Buterin said that issuance levels will be contingent on security rather than a predetermined schedule. Although this rate is fixed each year, the monetary inflation rate actually decreases every year, making ether a disinflationary currency. Disinflation occurs when the rate of inflation shrinks over time.
Ether is expected to be lost each year because some users may forget their private keys, some may pass away without transmitting their private keys, and some may send ether to an address without a corresponding private key. As the network grows, it is expected that the annual rate of ether lost will equal the annual issuance rate. The hope is that ether will be deflationary in 2140, around the same time that Bitcoin ceases issuing new coins. For an in-depth analysis of Ethereum’s issuance model, read Joseph Lubin’spiece.
These calculations are not set in stone. Ethereum is expected to switch its consensus algorithm from proof of work to proof of stake, which in theory is supposed to be more efficient and require a smaller mining reward. This change has produced some uncertainty within the ecosystem. The Ethereum Foundation is currently researching potential monetary effects and claims that all changes to the network will be handled by smart contracts, as opposed to individuals who may have ulterior motives.
This article originally appeared onBitcoin Magazine. || New AML Rules for Australia's Bitcoin Exchanges Kick In Today: Australia's cryptocurrency exchanges must now follow new rules aimed to counter money laundering and terrorism financing (AML/CTF). Providing a timely reminder to exchange platforms in the crypto space, Austrac, the country's financial intelligence agency, has just published a new web page setting out their new obligations as of April 3. Going forward, exchanges must meet new obligations, which include: registering with the agency, adopting and maintaining an AML/CTF program, identifying and verifying users, and reporting suspicious behaviour and transactions involving fiat currency of A$10,000 (US$7,700) and over. They must also maintain records for seven years. Korea to Inspect 3 Banks Over Crypto Exchange AML Compliance While offering exchange services without being registered can now bring criminal charges and penalties, Austrac says in the post: "A 'policy principles' period of six months will be in place from 3 April 2018. During that period, the AUSTRAC CEO can only take enforcement action if [a cryptocurrency exchange] fails to take 'reasonable steps' to comply." And, while exchanges' registration applications are being considered, a transitional arrangement will allow existing firms to continue providing services, however they must to register by May 14. Aimed to counter illicit uses of cryptocurrencies, the new regulations were first set in law when the Australian Senate approved the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 in early December 2017. The bill also gave Austrac oversight of cryptocurrency exchanges. Ontario Regulator 'Gathering Information' on Crypto Trading Platforms That bill was the second notable piece of legislation to be passed in Australian last year. Another bill, passed in October 2017, ended the long-controversial "double taxation" of cryptocurrencies. Previously, cryptos were taxed first upon purchase, then effectively again when buying items subject to the tax - a situation that arose from a previous 2014 law that treated cryptocurrencies as bartered goods for goods and services tax (GST) purposes. Story continues With the passing of the bill, as of July 1, 2018, bitcoin and other cryptocurrencies will get the same GST treatment as foreign currencies. Sydney image via Shutterstock Related Stories 5 Steps to Stress-Free Crypto Tax Accounting How to Defend Yourself Against Pump-and-Dumps || Why 3M Company Stock Slumped 11.4% in April: What happened After a double-digit run-up in 2017, any bit of negative news was enough for the market to pull the trigger on 3M Company (NYSE: MMM) shares. The month of April proved a perfect hunting ground for 3M bears, with the industrials stock shedding 11.4% in value during the month, according to data provided by S&P Global Market Intelligence . With that, April went down as the worst month for 3M so far this year. So what 3M entered the past quarter on a solid note , reporting strong numbers for the fourth quarter and fiscal 2017 and topping it off with an outlook upgrade for the full year in January. It was a quiet quarter, except for a management reshuffle announcement that'll see CEO Inge Thulin step down to take over as the executive chairman of the board. Effective July 1, he will hand over the reins to Michael Roman, who's been with the company for three decades. There was nothing to worry about there, but what investors didn't see coming was a dismal quarterly report from 3M. So when the company announced a staggering 54.5% drop in its first-quarter net income and downgraded its full-year earnings per share (EPS) guidance, the market sent 3M shares down 8.5% on April 24. By the end of the month, the stock had lost another three percentage points. A hand writing time for action with a red marker pen on a white board. 3M stock's recent drop may be a signal for investors to buy. Image source: Getty Images. The huge drop in 3M's Q1 profit looked scary, except that the company took big one-time hits upward of $1 billion due to recent changes in the federal tax law and the settlement of a long-pending suit with the State of Minnesota. While tax changes were beyond 3M's control, settlement of the suit was welcome news, as it ended an uncertainty that could have cost the company as much as $5 billion. As for the guidance downgrade, 3M now expects to earn $8.68 to $9.03 in GAAP EPS in fiscal 2018,as opposed to the $10.20 to $10.70 that it previously guided for. However, the company didn't anticipate the tax and legal-settlement charges as they were quarter-specific events. So adjusting for those, 3M is now calling for EPS to range between $10.20 and $10.55 this year, which means, in effect, it downgraded its EPS outlook by less than 1% at the midpoint. Story continues 3M also downgraded its guidance for organic sales growth by a percentage point to 3% to 4%, but that's mainly because of unexpected weakness in the electronics markets that have hit companies globally. Otherwise, 3M reported strong sales growth across all its business segments. Now what 3M revising its 2018 outlook just a quarter after upgrading it may have come as a big shock for investors who foresee the industrials sector, in general, gaining strength. 3M's EPS outlook, however, still calls for double-digit growth in 2018. Moreover, its sales surged 7.7% in the first quarter to hit all-time highs. If the pace continues, 2018 could be a record year for the company. Meanwhile, 3M continues to be a solid dividend stock , giving investors enough reasons to consider the April drop in the stock price an opportunity. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy . || Comcast's Bid to Buy Sky Overshadows a Big Q1 Beat: In this segment of the MarketFoolery podcast, host Chris Hill and Hidden Gems ' Abi Malin tune in for a big news week from Comcast (NASDAQ: CMCSA) . It scored major wins in the first quarter thanks to the Olympics and the Super Bowl, but it has set its sights on a big new prize: U.K.-based entertainment and broadcast major Sky . Fox already had a deal in the works to turn its minority stake into a full acquisition, which has been upended. There's a complex -- and expensive -- dance occurring here among Fox, Comcast and Disney (NYSE: DIS) . The Fools discuss. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on April 25, 2018. Chris Hill: Comcast. Some pretty nice numbers in the first quarter for Comcast. Profits and revenue came in higher than expected. They had the Super Bowl, they had the Winter Olympics. It seems like both of those paid off in a big way. Abi Malin: Yeah, adding $1.6 billion in revenue for the quarter. Hill: That's a lot of zeroes. Malin: It's a lot of zeros. Hill: This is an interesting company to me because they had this great quarter, and this actually takes a backseat to the other headline from Comcast, which is that Comcast has made a $31 billion bid -- I think I have that number right -- for Sky, the U.K.-based broadcaster. As a result of that bid, Sky has withdrawn its recommendation of a takeover bid from 21st Century Fox. So, interesting to see the chess moves that Comcast is making, because Disney had made the bid for Fox's movie studio assets, and Comcast had made a competing bid for that. But, it seems like once we got the details on that bid, it really didn't seem as compelling as Disney's. What do you make of this move to take over Sky? Story continues Malin: I think it's interesting. I've talked with Mike Olsen a lot, who follows Comcast pretty closely here. We've both been confused by this. I think that's a talented management team, and I think they're playing three steps ahead. But I do, a little bit, question the move, especially at that price. Hill: So, it's not so much the move, it's the price. Or, is it both? Is it the move and the price tag? Malin: It's both. I think Comcast is a little bit of a misunderstood business. I think people like to think that its fate is ultimately tied up with the media broadcasting. But, in my head, I think it's a little bit more of a utility company. Their advantage is really that they own that final mile stuff of the internet transmission, think, like, pipes, for lack of a better term, cable and fiber, the fastest networks, things like that. So, as long as people continue to increase consumption of data, which they have been historically, I don't think Comcast's business is necessarily at risk, and I think it's sort of tangential to what I think their future opportunities are. Hill: It's interesting, because you go back a few years, you mentioned Comcast to the average person, and you were probably going to get a negative response because for a good stretch of time, it had one of the worst customer service ratings of any consumer-facing business. Malin: It's the ultimate sign of utility and/or monopoly, when you can have terrible ratings and continue to be so prominent. Hill: Yes, so prominent and a good stock. Like, for all the hating on Comcast from a customer standpoint, that was a stock that continued to do well for shareholders. But, they started to make these moves to compete more with the Walt Disney Company in terms of, not just broadening their broadcast and cable offerings, but also studios as well and theme parks and that sort of thing. And I have to say, they were more successful in that endeavor than I thought they were going to be. Malin: I think that goes back to that being a very talented management team. I acknowledge that they are thinking three steps ahead. I can't tell what the steps in between are, but I acknowledge that it's probably something strategic. And like you said, they have done a really good job with what they've attempted to do so far, so I have to give them credit for that. Hill: I'm just thinking out loud here, but maybe they are looking, in part, at what Costco did with their dividend and thinking, "We have the money, and we don't want to do that. The attempt to outbid Disney, that didn't work, so we have to throw money at something. If we have to pay more than we want to, maybe it's still worth it." Malin: I think, also, a demand for programming isn't going away, it's just the medium in which it's being consumed. NBCUniversal has the scale, the resources and the brand to deliver. So, I can see why expanding that sort of section of the business could be opportunistic. Hill: I don't know why, but it always makes me smile any time I'm watching CNBC and they are talking about Comcast. And of course, they have to give the disclosure, "This is our parent company." And to their credit, they're not fawning, necessarily, over Comcast as a business just because it happens to be the parent company. Abi Malin owns shares of Walt Disney. Chris Hill owns shares of Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool recommends Comcast and Costco Wholesale. The Motley Fool has a disclosure policy . || These 3 Oil Stocks Are Up 20% This Year (And Could Have More Room to Run): Oil prices have been on fire over the past year and recently topped $70 a barrel, which is the highest crude has been since late 2014. That rally in the oil market has helped fuel big-time gains in many oil stocks. Three that stand out are Anadarko Petroleum (NYSE: APC) , Hess (NYSE: HES) , and ConocoPhillips (NYSE: COP) because each has risen more than 20% this year. They might still have additional upside from here given that all three plan on spending billions of dollars to buy back more of their stock. Buying back stock as quickly as it can Hess has led the way this year by rallying more than 33%. While the uptick in oil prices ignited that rebound, the company's buyback program has acted like gasoline to fan those flames. A barrel standing on a grey floor with money bursting out of it with a happy businessman celebrating next to it. Image source: Getty Images. Hess initially announced a $500 million repurchase program last November as part of its strategy to unlock value for shareholders, which also included paying off $500 million in debt and ramping up its drilling activities in the Bakken shale . Hess made quick work of that initial authorization, spending the entire amount by the end of the first quarter. Because of that, the company's board increased the program by $1 billion, which it expects to complete by year-end. In fact, the company entered into an accelerated repurchase agreement in April to buy back $500 million in shares. Meanwhile, with $500 million left to go, the company still has enough money to move the needle since it could retire another 3% of its outstanding shares at the current stock price. Returning the windfall as quickly as possible Anadarko's stock is up almost 28% this year due to the same factors driving Hess' rally. Anadarko, like Hess, initially announced a buyback program last fall, though for $2.5 billion of its stock -- enough to retire 10% of its shares outstanding at the time -- as well as pay off another $1 billion in debt. Anadarko would go on to add $500 million to its buyback program earlier this year, while also boosting its dividend 400%. Story continues The company also made quick use of that authorization. By the end of 2017, Anadarko had already repurchased $1.1 billion in shares, and it recently entered into two accelerated share repurchase agreements that will exhaust its current authorization by the end of the second quarter, just nine months after the initial announcement. However, the company will likely continue buying back shares in 2018 given that oil prices are well above its $50 budget baseline, which positions it to generate significant free cash flow. While the company could use that money in a variety of ways, CEO Al Walker stated on the first-quarter conference call that Anadarko is "philosophically motivated to continue increasing our share repurchase plans as one of the uses of cash over the balance of the year." Three oil pumps at sunset. Image source: Getty Images. Continuing the strategy ConocoPhillips' shares are up about 26% this year, which continues the massive rally since the company first announced its share repurchase program in late 2016, with shares now up more than 50% over that time frame. However, there's plenty more fuel left in the tank given the scope of ConocoPhillips' buyback. Initially, ConocoPhillips planned to repurchase $3 billion in shares over a three-year period, driven in part by asset sales. However, after blowing past its target in 2017, ConocoPhillips was able to repurchase the entire amount last year. Because of that, the company now plans to buy back a total of $7.5 billion in stock by 2020, including $2 billion this year. Though, with oil well above its $50 budget level, ConocoPhillips could buy back even more shares than planned. Higher oil and big-time buybacks are a powerful combination While higher oil prices have helped drive most oil stocks up this year, this trio has vastly outperformed rivals thanks to their buyback programs. They could continue doing so given their plans to repurchase even more shares this year, making them compelling oil stocks to consider buying. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo owns shares of ConocoPhillips. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Blue Apron May Have Just Saved Its Business: Blue Apron(NYSE: APRN)was headed to the dustbin of relevancy as the value of its meal kit delivery business withered away, but the one-time industry leader may have just salvaged its survival.
After fourth-quarter revenue tumbled 13% to $188 million and the number of customers it served fell 15% to just 746,000 -- down from over 1 million at its IPO -- Blue Apron announced it would be making its meal kits available in supermarkets, in addition to its delivery service.
Image source: Blue Apron.
Most shoppers still prefer to go to the store to buy their groceries, and Blue Apron was at risk of seeing whatever market it had left sucked dry by supermarkets offering lower-cost meal kits of their own in the stores.
Earlier this month,Walmartannounced it would roll out to all its stores this year its own meal kits that would feature premeasured and prepped food ready to cook. It followsKroger's decision to expand the availability of its own meal kits in its grocery stores and Albertsons' acquisition of meal-kit delivery rival Plated.
Worse, better-known brands were also getting into the meal kit business. In 2016, Martha Stewart launched her own meal kit partnership with Marley Spoon, which began delivering Martha & Marley Spoon in June 2016. Martha & Marley Spoon meal kits became available through Amazon Fresh in March 2017.Weight Watchersjust announced that it, too, would be offering itsown branded meal kitsin stores.
No doubt there are risks with Blue Apron's decision to move its meal kits into the grocery aisle. They will be just another commoditized product featured alongside a growing list of other meal kits (Blue Apron didn't reveal when or where it will start selling its kits in stores), and the premium it charged will likely shrink considerably. Yet the exclusivity of its previous business model was already fleeting and simply not sustainable.
Operating losses tripled last year as it sought to expand and bring more customers in, but it ultimately gave up on those efforts as customer acquisition costs were simply too high. By making itself available in stores, it will be cheaper for Blue Apron to get new customers, or as CEO Brad Dickerson toldThe Wall Street Journal, "The access to consumers is much broader in this avenue than the avenue we've been operating in the past."
While Blue Apron's lack of a competitive moat was revealed by the marriage of Amazon and Whole Foods Market, which joined arguably the best delivery service with the premier name in groceries, the meal-kit delivery business itself has largely proven itself to be a niche market with a finite set of well-heeled customers.
The delivery that Blue Apron offers is a nice touch, but it's a pricier option. Few customers want to spend $60 to $80 per week for three meals, and having meal kits in-store makes them available to a mass audience.
Despite making its kits available in stores, Blue Apron is still not a good investment yet and a buyout probably remainsits best hopefor salvation. But by taking the mass consumer approach, it may have saved the company from the road to oblivion it was heading down.
Editor's note: This article has been corrected to show that Martha & Marley Spoon meal kits are not stocked in stores.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends AMZN. The Motley Fool has adisclosure policy. || Bad Checks: Twitter's Identity Crisis Is Costing Users More Than Bitcoin: Trust, but verify.
Borrowed from a Russian writer, it's one of crypto's most widely embraced slogans, though one that's becoming even more relevant on social media, whereÂbattling factions bent on promoting the next great high-tech investment are now turning the very symbols meant to protect users against them.
Whether it's an account impersonating the world's largest exchange or its most widely known tech visionaries, no company or individual is too sacred for a simple takedown that's spreading like wildfire, propelled by lax verification practices at name-brand social media giants.
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Still, it's perhaps "crypto Twitter" that's bearing the brunt of the criticism.
Armed with a photo ID, scammers are successfully duping Twitter into giving them a "blue check mark" of authenticity so they can impersonate real individuals and entities, all in an effort to bilk users out of money.
Take "seifsbei," a verified account associated with freelance film producer and director Seif Elsbei, which was hacked and thenposed as the official accountof the verge cryptocurrency. The hacker didn't stop there, later posting messages as crypto exchange Bitfinex and ethereum creator Vitalik Buterin.
The verified account "Protafield" displayed similar bad behavior in early April, briefly changing its name and account details to impersonate crypto exchanges to specifically stage fake ether giveaways.
EOS Is Nearing An All-Time Price High
And these incidents display how crypto Twitter's current mess isn't likely to be saved merely by the blue check mark, or any other simple verification process.
"People at home see this as a stamp that Twitter sees this as a good account, which can be very subjective," said Tim Pastoor, founder of the Netherlands-based digital identity startup 2way.io.
By vetting merely the identity behind the account, and not the intent, when issuing blue check marks, Twitter inadvertently makes scams even more dangerous, he continued.
Speaking to the overall cat-and-mouse game many crypto companies are having to play on Twitter, a Bitfinex representative described curbing such efforts as almost a full-time job.
A spokesperson told CoinDesk:
"We dedicate a lot of resources towards combating illegitimate Twitter accounts and educating our users on how to spot them. However, our impact on certain sites is limited."
There are several patterns that complicate the trouble with crypto Twitter.
For one, scammers have quickly learned to use highly technical language to cloak misinformation in trusted terminology, said Nick Lucas, founder of the Los Angeles-based social media analysis startup CoinTrend. This means simple vocabulary lists and language analysis, processes Twitter and other social media sites use, won't be enough to weed out scams, he said.
Yet, Pastoor pointed out that bots and spam accounts often promote tokens in packs, swarming to give each other good reputations and boost visibility, which could make it easier to spot systematic scams.
However, it remains a tricky endeavour, and so Pastoor recommends that Twitter take a page from traditional psychology to help combat the problem.
Most people trust their close friends more than acquaintances, so a layered approach to trust could offer some tools for filtering the noise. For example, a user may trust a coworker's friend more than a complete stranger, but less than a family member. Just as Facebook lets people control which people they see posts from - friends only, select groups or the public - Twitter could give users more control over who shows up in their feeds.
"There are definitely going to have to be iterations," Pastoor said. "I would probably recommend starting with allowing people to filter based on people that they already trust, and to maybe make more use of your second or third-degree networks."
Twitter declined to comment on any topic related to these events or policy changes in general, but Twitter CEOJack Dorsey recently admittedthat the platform's verification system is broken.
The issue is made even more confusing by the fact that accounts can change hands among owners, not only through hacks, but also simple handovers, and those new owners may have different motives.
For instance, what started much of the debates around Twitter's policies was the suspension of the "@bitcoin" Twitter handle.
Before the bitcoin scaling debate came to a head last fall, with a significant contingent of enthusiasts splitting off the core bitcoin network to create bitcoin cash, the @bitcoin Twitter handle tweeted information in support of bitcoin. The account has been operated by many owners over the years, and the latest is anÂanonymous bitcoin cash fan.
As such, the account became highly controversial, tweeting out incendiary comments aimed at Bitcoin Core developers and several other leading figures in the cryptocurrency community who were on their side. Many Core developers saw this as misleading, since the handle was tweeting out things Bitcoin Core, which a majority of users and businesses still see as the "true" bitcoin, didn't stand behind.
Because of the outrage, Twitter briefly suspended the account and then stripped it of its blue check mark (the account is active again but no longer verified).
Speaking to the debates that have plagued the leaderless tech community for some time, Sterlin Lujan, a bitcoin cash supporter and communications ambassador for Bitcoin.com, told CoinDesk:
"These social media networks should not allow handles to be censored or shut down arbitrarily, just because a bunch of people do not like it."
And while Twitter has said the blue check mark does not imply its approval or endorsement, Lujan contends, "A person with a check mark has a stronger likelihood of appearing at the top of searches and feeds. What it boils down to is that Twitter verification processes need to be made more clear."
While Twitter's verification process is still uncertain, what remains clear is Twitter's impact on the cryptocurrency markets.
Not only can scammers have a dire impact on user's crypto holdings, but even those earnestly voicing their interest in a certain crypto project can cause price swings. For instance, Lucas has seen a clear correlation between tweets from influential Twitter accounts and market volatility.
"There's basically a lot of influence on Twitter when John McAfee or someone mentions a specific coin," Lucas said.
As an example, when McAfee tweeted about "burst," a crypto token project focused on creating a "greener" mining process, on December 22, the price of the cryptocurrencyquickly doubled.
A similar, albeit temporary, spike happened the previous week when McAfee tweeted about another crypto token project,ÂSafe Exchange Coins. The day before McAfee's tweet, the cryptocurrency was selling for roughly a penny each, but within 24 hours of the tweet, the price doubled and by the following week, the coin briefly sold for more than $0.06.
Some argue that when McAfee charges$105,000 per tweet, he's basically advertising for companies for a fee. However, he told CoinDesk it's not really advertising because he only promotes projects he truly believes in.
Twitter chatter doesn't only drive prices up for new cryptocurrencies and crypto tokens, though. It can also have negative impacts as well.
For example, Lucas has noticed that a lot of Twitter feuds about bitcoin code changes and technical updates correlate to price dips.
"If everyone is talking negatively about something that is getting pushed into a core repo coin, that can also have an impact. If someone with a big following tweets something, it can cause a scare," Lucas said, adding:
"There's a lot more influence coming from specific accounts, unlike, say, Reddit, which pushes more topics to be talked about rather than creating influence."
Twitter account on computer screenimage via Shutterstock
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• TD Ameritrade Put An Actual Ad on the Bitcoin Blockchain || What Ban? Iranians Spend $2.5 Billion Buying Cryptocurrencies in Capital Flight: Iran has seen over $2.5 billion in capital outflows toward cryptocurrency purchases according to a senior government official while the central bank cools talk of a banking blockade on the sector.
Iranian citizens have spent over $2.5 billion in buying cryptocurrencies beyond the country’s borders so far, the head of the Iranian Parliament’s Economic Commission told local publicationIBENAover the weekend.
Majils (the Iranian Parliament) Economic Commission chief Mohammad Reza Pour-Ebrahimi reportedly said:
“Despite the fact that a minority of citizens in the country are customers of cryptocurrencies, more than $2.5 billion has been sent out of the country for buying digital currencies with a majority of people [investors] in it for speculative activities and huge profits.”
The revelation comes at a time when the Iranian rialplunged to a new lowagainst the US dollar after months of depreciation leading up to the United States’ formal withdrawal from the Iranian nuclear deal on Wednesday. Nearly a month ago to the day, panic buying of rare US dollars saw a single USD exchanged for up to 60,000 rials in Tehran, Iran’s capital city. Already an all-time low, the rial plunged even further followingTrump’s announcementon Tuesday night, with a dollar being sold for as much as 80,000 rials according to Reuters.
With fears of an economic crisis brewing, it’s little surprise then that Iranian citizens are turning to cryptocurrencies.
As reported in April, Iran’s central bankbannedthe country’s banks from offering services to cryptocurrency firms or dealing in cryptocurrencies domestically, forcing citizens to turn to international crypto exchange platforms and ultimately leading to capital outflows. At the time of enforcing, the Central Bank of Iran (CBI) said the curbs were to put an end to money laundering and terrorism financing through cryptocurrencies.
However, Iran’s ICT minister Mohammad Javad Azari-Jahromi recently revealed that the ban was to prevent capital flight rather than any concerns of money laundering.
According to Iranian publicationFinancial Tribune, the minister was quoted as stating:
“The ban on trade of cryptocurrencies such as Bitcoin by CBI, as the financial and currency regulator of the country, is to prevent the flight of foreign currency under the current circumstances of the country.”
In a further twist, the central bank circular sent to financial institutions mandating the banking blockade is “not the final policy” of the central bank, according to CBI’s deputy of innovative technologies Nasser Hakimi.
“In fact, no policy at any time is final and policies are considered for various time spans,” the CBI official added, insisting that the central bank is planning to reveal its regulatory framework for cryptocurrencies by September this year.
Images from Shutterstock.
The postWhat Ban? Iranians Spend $2.5 Billion Buying Cryptocurrencies in Capital Flightappeared first onCCN. || Better Buy: Amazon vs. Facebook: There's a considerable shift in people's behavior these days: More and more shopping and entertainment are taking place online. And as people spend more time and money online, advertisers are quickly following them there.
Two companies seeing substantial benefits from that shift -- or perhaps causing it in the first place -- areAmazon(NASDAQ: AMZN)andFacebook(NASDAQ: FB). Both have grown to become giants in their spaces: Amazon in online retail and cloud computing, Facebook in digital advertising.
Investors would do well with either company in their portfolios. (In fact, I own shares of both.) But if you had to choose just one, which makes the better buy: Amazon or Facebook?
Image source: Amazon.
After humble beginnings as a bookstore, Amazon quickly expanded to different verticals, and now you can buy just about anything on Amazon's marketplace. There are over 100 million items eligible for two-day shipping to the company's100 million Prime members.
ButAmazon's no longer just a retail company. In fact, more than half the stuff sold on Amazon comes from third-party merchants simply using Amazon's marketplace to reach an audience. Amazon's third-party seller services climbed 39% year over year to $9.3 billion in the first quarter; Amazon's own online sales increased just 13%, by comparison.
Amazon also has a number of services that are rapidly growing. Subscription services revenue climbed 56% year over year in the first quarter. The segment encompasses Prime, Prime Video, Music Unlimited, Audible, and several other subscription offerings. The "other" revenue segment, which mostly consists ofAmazon's advertising business, climbed 73% year over year on an adjusted basis.
And don't forget about Amazon Web Services, Amazon's cloud computing division. AWS accelerated its growth in the first quarter, up 49% year over year. Amazon also breaks out its operating profits from the segment, which climbed 57% year over year, as the company saw improved leverage with its growing scale.
While Amazon's retail business isn't growing as fast as it once was, its services businesses are booming. And Amazon's services are where the profits are. AWS, for example, produces an operating profit margin of 26%. Amazon's ad business could generate an operating profit margin of over 50%, based on results from Facebook. Considering Amazon's core operating margin is so slim -- less than 4% -- these fast-growing services will have a major impact on Amazon's bottom line.
Image source: Facebook.
Just like Amazon, Facebook is exhibiting significant growth at scale. Over the last five quarters, Facebook's namesake service has added more daily active users thanSnap's Snapchat has in its over-six-year existence, and it added the same number of monthly active users asTwitterjust reported in its first-quarter results -- 336 million. Facebook's user base is growing faster than it has any business growing, considering there are now about 2.2 billion users on its platform.
Facebook CFO Dave Wehner has been warning of a significant slowdown in advertising revenue since 2016, due to supply constraints in Facebook's News Feed. But when it came time for thatslowdown in the second half of 2017, it never showed up. Facebook found that its advertisers were willing to spend more on its ads, even as it faced short supply. Facebook's average ad price increased 39% year over year in the first quarter on top of an 8% increase in impressions. Overall, ad sales increased 50% year over year in the first quarter, an acceleration from the fourth quarter.
Not to mention that Facebook still has a lot of levers to pull. Instagram is still growing, and while ads in that feed now representa significant portion of revenue, there are 300 million people using Instagram Stories every day -- and Facebook is only just starting to monetize the product.
WhatsApp Status (the WhatsApp Stories product) has even more users than Instagram Stories, and it remains completely unmonetized. And Facebook just released WhatsApp for Business in January, and already has 3 million users signed up. The company is on the verge of generatingsignificant revenue from WhatsAppand its 1.5 billion users.
There's also Messenger, which has about 1.3 billion users of its own that Facebook has yet to fully monetize.
With a core business that's expected to produce around $55 billion in high-margin revenue and growing 50% year over year, plus a portfolio of some of the most popular social apps in the world, Facebook is also well-positioned to grow earnings for investors for a long time.
Most "better buy" articles include a look at valuation to determine which stock offers better value to investors right now. That's great for comparing most companies, especially those that operate in similar industries. But here, it's not as useful.
Not only do Amazon and Facebook operate in different industries, but Amazon's focus on driving scale instead of profits makes the stock practically impossible to value using traditional ratios like price to earnings,enterprise valuetoEBITDA, price tofree cash flow, or even price to sales.
Amazon is currently plowing more cash than it generates into technology to support AWS, building out new fulfillment centers and acquiring assets to support its logistics network, and paying for content to support its subscription services. Over the last 12 months, Amazon's free cash flow, less finance lease principal repayments and assets acquired under capital leases, wasnegative$3 billion. And Amazon even says its long-term goal is to optimize for free cash flow.
Still, it's hard to argue with the results on Amazon's top line and across all of its various segments. And so long as Amazon continues delivering results like it did in the first quarter, investors should be happy to see it burning through cash and eating into profits.
So, it's easy to see how traditional valuation metrics don't apply to Amazon. And comparing Amazon to Facebook stock in terms of valuation won't get us anywhere.
Perhaps the best way to determine which is the better buy is to consider the businesses themselves. Facebook is one of the best pure plays in the growth of digital advertising, with a strong moat and a handful of extremely popular platforms. Amazon, by comparison, has its hands in several growing industries: online retail, cloud computing, streaming media, and even a bit of digital advertising itself. And it's got a pretty good competitive advantage in all of those areas.
For an investor looking for a more diversified company that still has a ton of growth potential, Amazon stock looks like a better buy.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors.Adam Levyowns shares of Amazon and Facebook. The Motley Fool owns shares of and recommends Amazon, Facebook, and Twitter. The Motley Fool has adisclosure policy.
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LTC: $140.38
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Trend: down || Prices: 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Crypto Giant Binance Will Donate All Coin Listing Fees to Charity: binance cryptocurrency exchange binance cryptocurrency exchange Binance announced that as of today the company will make all listing fees transparent. In addition, 100% of fees will be donated to charity. The move is likely to generate a fair amount of attention for the world’s largest cryptocurrency exchange by trading volume. Previously, listing fees on Binance – the cost of listing a cryptocurrency in their exchange – have varied based on a number of factors such as the type of token and expected daily volume. The move is not without some controversy. Binance was rumored to charge astronomical figures for tokens to be listed on the exchange. Changpeng Zhao, the CEO of Binance, refuted these rumors as baseless. Zhao told CCN: “There were so much incorrect data, rumors and FUD about listing fees. We care about our community and want to address this once and for all.” When asked if Binance’s move towards greater transparency was driven by the earlier controversy, Zhao answered in the affirmative. “Yes, partially. We never charged 400 BTC for any project. That was a purely made up number,” he said. Now, cryptocurrency projects will be able to decide what kind of fee they want to pay. In essence, this fee will be a donation to charity through Binance. The exchange will then disclose the fee to the public via their charity initiative, the Blockchain Charity Foundation . “This will be disclosed in a subsequent Binance Charity Foundation press release. We are discussing with a few large donors at the moment. We don’t want to release a partial list just yet,” Zhao said. Binance Zhao Changpeng Sequoia Binance will not dictate how much projects have to charge, and there won’t be any minimum donation fee when listing a cryptocurrency. They also want to avoid giving the impression that larger donations will gain favor for projects, with Zhao saying in a press release , “A large donation does not guarantee or in any way influence the outcome of our listing review process”. When asked if other players are expected to follow suit in providing transparency, Zhao was optimistic. Story continues He said: “I certainly hope so. They copied us on many other things, this will be a good thing to copy. There is no competition in charity.” Binance recently launched Blockchain Charity Foundation together with the UN, led by UN Ambassador of Goodwill, Helen Hai. The goal of the project is to help the UN tackle the United Nations Sustainable Development Goals funding gap . Currently, the UN is struggling to raise the $2.5 trillion needed to help developing countries reach their investment goals. The BCF was set up to explore the potential of blockchain technology to help with this. One of the next important steps in this process is the meeting of Binance and the BCF, at the Blockchains for Sustainable Development forum on October 24th in Geneva. The forum aims to unite various blockchain thought leaders with philanthropists and heads of state, with the goal of discussing how blockchain can be used in future for public good. Featured image from Shutterstock. The post Crypto Giant Binance Will Donate All Coin Listing Fees to Charity appeared first on CCN . || Bitcoin Sees New Price Support From 7-Year-Long Rising Trendline: With the number of strong support levels increasing for bitcoin (BTC), the bitcoin bears are facing an uphill battle.
The latest addition to the list is the support of the trendline connecting the November 2011 and August 2016 lows, currently at $5,830. Up to Oct. 31, the two key support levels were the 21-month EMA and the trendline drawn between the June and August lows.
In particular, the21-month EMAwas the level to beat for the bears till last month, meaning a close below that support would likely have revived the sell-off from the record high of $20,000 seen last December.
Winklevoss Brothers Sue Charlie Shrem Over $32 Million in Bitcoin
While the 21-month EMA still remains a crucial support, the new make-or-break level is the seven-year-long rising trendline.
That's because the trendline support, which was located around $5,300 last month, has now moved closer to the current price and is seen rising above $6,300 in December. Hence, it may now be incorrect to call a break below the 21-month EMA a sign of a bear revival.
At press time, BTC is changing hands at $6,330 on Bitstamp, representing a 0.5 percent drop on a 24-hour basis.
Apps for Kik's Crypto Are Beginning to Appear on Apple and Google Stores
On the monthly chart, a break below the trendline support of $5,830 would strengthen the bear grip and allow a drop to the psychological support of $5,000.
The bulls, however, would feel emboldened if the cryptocurrency produces a strong bounce off that key support.
As for the next 24 hours, investors should keep an eye on the symmetrical triangle seen in the chart below.
The upper edge of the symmetrical triangle, currently at $6,400, is proving a tough nut to crack on the daily chart. A break above that level would put the bulls in a commanding position, opening the doors for a rally to $6,756 (Oct. 15 high).
• The 7-year-long-rising trendline is the new level to beat for the bears.
• A symmetrical triangle breakout, if confirmed, could yield a re-test of Oct. 15 highs above $6,750. On the other hand, a downside break would expose the Oct. 11 low of $6,055.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; charts byÂTrading ViewÂ
• 'Ruff' Month? Dogecoin's Price Slid 36 Percent in October
• Tether Produces Letter Vouching for Dollar Deposits, But Bank Hedges || How to Prepare for Next Week’s Bitcoin Cash Hard Fork: bitcoin cash fork If you’re concerned about the Bitcoin Cash hard fork that’s upcoming, you shouldn’t necessarily be, because you have plenty of time to get ready and more than one option on how to prepare. As journalists we are generally neutral on the subject of the fork — this article is intended for informational purposes only, not to take a side. First, for the uninitiated, we should explain a couple terms. Hard Fork A “hard fork” is when mining (and, necessarily, client) nodes no longer agree on the rules of a protocol but continue to share the blockchain or permanent ledger of transactions previously made on the shared network. Technically a hard fork exists after one block of the new, protestant chain has been mined, but in reality a hard fork chain must survive much longer than that for the community and the world at large to consider it viable. A hard fork is not the same thing as a software fork, where the code is simply used to build a different product with minor or major modifications. Everything from Dash to Litecoin Cash is technically a software fork of Bitcoin. The best example of a hard fork is the Bitcoin Cash fork away from Bitcoin Core last year. Up until blocks mined in August 2017, the Bitcoin Cash blockchain is identical to the Bitcoin blockchain, but from that point on it became its own entity and gradually has developed its own community, services, and now, of course, its own divisions. Replay Attack bitcoin cash A replay attack is when the transaction details from one blockchain can be used on the other. If it were to happen in Bitcoin Cash when the fork first happened, it would have happened like this: you make a transaction on one blockchain and then the receiver uses the details from that transaction in order to receive coins on the other chain from you — without your permission. In the Bitcoin Cash fork that is upcoming — which is planned to result in at least two versions of Bitcoin Cash — there will be no native replay protection. With previous hard forks, failed or otherwise, replay protection was integrated by one development team or another. It is a serious matter as the heart of Bitcoin is user choice — there are no pull requests in Bitcoin, only “push” transactions. Story continues How to Prepare Against Replay Attacks When the fork happens, it is advisable to make no transactions at all right away. One should decide which version of Bitcoin Cash they are primarily going to use and keep their existing wallet on that chain. Then, the user should install the other version, access their coins on that chain, and once they have accessed their coins on the chain they do not intend to use, they should sweep them all to a new address of their own on that chai n . In this way, they will not be at risk of replay attacks because the coins are now held in different “accounts” or addresses between the chains. Failure to do this puts the user at risk of having their transactions replayed. Unfortunately, with a lack of replay protection built into the new clients, you will have to do something if you want to secure the coins on the new chain. There is another option wherein you don’t care about the funds on either chain, and under this scenario you are free to simply leave things as they are — if someone replays a transaction you sent them on your preferred chain, you wouldn’t care anyway. The Alternative Option: a Managed Exchange Wallet Users who are overly concerned and not technically sure they’ll be able to successfully migrate their coins themselves could simply send all their Bitcoin Cash to a cryptocurrency exchange that has explicitly stated that it will support the fork, where they will automatically be credited with the new versions. Then, if you want either coin or both, you can withdraw them once the fork has settled. Potentially, there could even be three versions of Bitcoin Cash, provided miner support is there for all of them. Many other exchanges will do this, but Poloniex has committed to doing so and has also begun pre-fork trading of both new versions of the coin. Images from Shutterstock The post How to Prepare for Next Week’s Bitcoin Cash Hard Fork appeared first on CCN . || A Year After Launch, BTCPay Has Grown Larger Than Its Creator Expected: Firsthintingat his project in a reply to a BitPaytweeton August 2017, Nicolas Dorier boldly claimed that BTCPay would make one of crypto’s most popular payment processors obsolete.
In an r/Bitcoinposttwo months later, he clarified that his brainchild isn’t meant to “take the place of BitPay.” Rather, BTCPay is poised as a new and improved alternative, a decentralized stand-in for merchants who wanted an easier way to accept bitcoin.
A year later, the project has grown larger than Dorier anticipated. With a community of open-source developers at its back and growing demand from a faithful user base, the payment processor has expanded its support past bitcoin and has integrated with many of the web’s most popular point-of-sale (PoS) plug-ins.
It has become a meteoric success. But for what started out as a hobbyist’s side project, this success has, in some respects, become unwieldy.
Dorier launched BTCPay at a time when a contentious proposed Bitcoin hard fork was sending tremors through the community. BitPay’s approach to this hotly contested fork, Dorier toldBitcoin Magazine, was part of the reasoning behind BTCPay’s creation.
“BTCPay was created when BitPay was trying to force all their merchants to use another altcoin instead of Bitcoin. The priority for BTCPay was to make sure that all software written to work on BitPay will work on BTCPay with minimal (or no) change.”
The “altcoin” Dorier refers to is B2X, the unsubstantiated product of the failedSegwit2x hard fork. Acontroversial proposalat the time, the protocol change intended to double Bitcoin’s block weight limit. While proponents saw this as a necessary scaling solution, opponents argued it would open up security vulnerabilities, and many of these same opponents distrusted the invite-only, conspiratorial meeting that gave birth to the planned fork.
Incidentally, the forknever really made it off the ground. Still, a number of Bitcoin-related companies around the world supported it, and BitPay was part of a not-inconsequential list of companies that said they would treat Segwit2x as Bitcoin, given enough community consensus.
Dorier was not a fan. A part of the NO2X movement himself, the developer decided to create BTCPay in the face of what he viewed as an uneven, centralized decision in BitPay’s commitment to B2X.
His alternative in BTCPay is meant to offer the convenience of BitPay’s payment processor API without the counterparty risk or centralized custody inherent in its parent technology. To create this alternative, Dorier simply forked BitPay’s open source code.
“Redeveloping all of it would have consumed lot's of my time. By using the same API shape as BitPay, I can basically fork their open source work and easily make it work on BTCPay.”
With BTCPay, users never relinquish control over their private keys, and they can even host their own node to buttress the platform’s services. As Dorier put it, this opens up the potential for “new things becoming easily possible,” such as integrating the Lightning Network or atomic swaps.
For those who are less technologically savvy, BTCPay won’t leave them behind.
Node hosting on Microsoft's Azureprovides 1-click deployment for the average merchant, who can pay a third party to host a BTCPay node on their behalf. Dorier stated that this node hosting service is the most popular and oldest available, though a rising competitor is cutting into its dominance.Luna Nodeis gaining traction among BTCPay’s merchants, mainly because it is cheaper to host on the service ($10/month as opposed to $60/month for Azure). On top of this cost reduction, it also accepts bitcoin as a form of payment and has a more intuitive setup wizard, Dorier claims.
On the topic of merchants, BTCPay’s most integrated plugins are Drupal, WooCommerce, Magento and PrestaShop. Dorier told us that Shopify “is the most asked [for],” though he said that it’s difficult to “get a foot in the door” with them unless you’re a big company.
For those merchants that leverage BTCPay, they have access to more payment options than the platform’s counterpart in BitPay. Though BTCPay is “mainly focused on Bitcoin,” as Dorier put it, community developers have also added support for litecoin, dash, dogecoin, monacoin, bitcoin gold, feathercoin, groestlcoin, viacoin and polis. Dorier believes that there is enough interest for stratis, monero and ether to see their own support as well, though he emphasized that “the burden of integration is in the hands of the altcoin communities,” as he himself will not go out of his way to add them.
Even with its fast-growing success, BTCPay has its tradeoffs and limitations.
One of these is lack of a fiat on-ramp. One benefit of BitPay’s centralization and custodial services is that it can support seamless crypto-to-fiat conversions. For a decentralized BTCPay, this feature has been markedly absent from its platform.
Still, Dorier is working to bring this liquidity to the platform, though he did say the solutions were still too underdeveloped to discuss seriously.
One of these solutions is an exchange integration that would allow merchants to forward transactions and autosell them on fiat-ramp exchanges. “Doing this, though, is a headache accounting-wise for businesses,” he cautioned, so the platform would also need to “provide a good accounting feature.”
In another model, “exchanges would host BTCPay on behalf of their user and automatically convert to fiat like BitPay is doing. This would solve accounting issues,” Dorier said, although this function also veers toward the same centralized, custodial services that BTCPay was built to avoid.
Fiat support troubles aside, BTCPay’s success was sprung on Dorier to a point. As we briefly mentioned, the platform began as a side project. Now, the formerly one-man job has turned into a wellspring of open-source development, and Dorier, who holds down two contractor positions at Metaco and DG Lab, said he is “reaching his limit.”
“My current challenge is about not being a bottleneck … Nowadays, I can't keep up with the number of issues and pull requests to review. I find it hard to spend more time on developing features I want because of this.”
Still, a group of Bitcoin-faithful developers have helped to lighten his load, most notably the pseudonymous BitcoinShirt, Rockstardev and Kukks. With their work, these developers have also increased awareness, something that no doubt adds to Dorier’s burden as BTCPay grows.
Of course, this growth, while cumbersome, means the platform is thriving. And Dorier has plans to expand its offerings further, adding such features as a crowdfunding app, shareable invoices, atomic swaps and a wallet restoration function.
As BTCPay expands, Dorier hopes to continue to lengthen the already impressive strides of the 1-year-old payment processor, with the end goal of overtaking the industry’s frontrunner.
“BTCPay is giving back the power directly to the user. And I want to prove that we can compete, and even overtake the ease of use of centralized services … Ironically, centralized services are making themselves more and more difficult to use because of KYC/AML regulations. BTCPay is becoming easier and easier because we are solving a user-experience problem, not a regulatory one.”
This article originally appeared onBitcoin Magazine. || These are the 25 best start-ups to work for in Brazil, according to LinkedIn: Start-ups in the logistics, retail and legal industries all present exciting opportunities for workers in Brazil . But it's disruptive firms in the financial services industry that are proving most attractive to employees, according to new research from LinkedIn LNKD . In a ranking of the top 25 start-ups to work for in Brazil this year, the professional services network found that five-year-old fintech start-up NuBank leads the way, drawing in staff with its fresh take on financial services. That's something that's proved especially desirable in a country with a wealth spectrum as wide as Brazil's. CNBC Make It takes a look at the full list of Brazil's 25 most attractive start-ups this year. 25. MODERN Logistics Global headcount: 157 Headquarters: Jundiai Modern Logistics provides airfreight logistics services, as well as ground transportation and warehouse facilities, within Brazil. The young company currently has a fleet of three freighter aircraft, which it intends to build out to 18 by 2021. 24. Contabilizei Global headcount: 205 Headquarters: Curitiba Contabilizei provides tax filing and accounting services for 5,000 small and medium-sized businesses across 30 Brazilian cities. Launched in 2013, the business now has a staff of more than 200 and an additional office in Sao Paulo. 23. EBANX Global headcount: 383 Headquarters: Curitiba Six-year-old Brazilian fintech company EBANX provides cross-border payment services for e-commerce merchants across eight countries in Latin America and Caribbean . 22. AMARO Global headcount: 360 Headquarters: Sao Paulo Women's clothing site AMARO says it puts technology at the heart of everything it does. Launched in 2012, the growing company has opened 13 high street outlets across four major Brazilian cities, but it continues to incorporate tech functions into the physical shopping experience. For instance, customers can scan items in-store and browse entire collections on their phone. Story continues 21. Geru Global headcount: 117 Headquarters: Sao Paulo Three-year-old Geru is a Sao Paulo-based fintech company that provides loans at rates it says are lower than those offered by traditional banks. The start-up is striving to create a diverse company culture and notes that the majority of its management positions are held by women. 20. Rock Content Global headcount: 340 Headquarters: Belo Horizonte Rock Content is a Brazilian content marketing company based in Belo Horizonte. With a core staff of 340, and a network of 20,000 copywriters, it supports small businesses by assisting with their text, video and social media content. After seeing company revenues double in 2017, the start-up launched its first international office in Mexico . 19. Nibo Global headcount: 105 Headquarters: Rio de Janiero Nibo is a communication platform for small and medium-sized businesses and their accountants. Launched in 2012, the business doubled its headcount last year and is currently on the lookout for more managers. 18. ContaAzul Global headcount: 370 Headquarters: Joinville Financial services firm ContaAzul aims to help simplify business processes by assisting with tasks such as invoice issuance. After receiving an investment of over $24 million this year, the six-year-old start-up has plans to expand its headcount to 500 by the end of 2018. 17. Vindi Global headcount: 100 Headquarters: Sao Paulo Five-year-old fintech Vindi helps businesses with their payment systems. The Sao Paulo-based firm has expanded rapidly in recent years, absorbing three other fintech start-ups: Smartbill, Easy Accept and Fast Notes. 16. Mercado Bitcoin Global headcount: 102 Headquarters: Sao Paulo Mercado Bitcoin is a digital platform for buying and selling bitcoin. After experiencing a volatile ride with cryptocurrencies last year, the business underwent a restructure and now plans to invest heavily in doubling its IT and information security headcount. 15. MindMinders Global headcount: 48 Headquarters: Sao Paulo Research company MindMinders provides insights for businesses, particularly in the marketing space. Working closely with MeSeems, a social network for opinion sharing, the start-up can draw on insights from more than 500,000 people to provide real-time insights. 14. Beblue Global headcount: 427 Headquarters: Ribeirao Preto Beblue is a cashback start-up that gives users a percentage of their money back on purchases made via its platform. In its two years since launch, the young business has grown quickly, amassing a team of more than 400. 13. Mandae Global headcount: 102 Headquarters: Sao Paulo Logistics company Mandae is using technology to make delivery services more efficient and cost effective for small and medium-sized businesses. Through its platform, users can arrange and monitor shipments and reduce costs by as much as 50 percent. 12. Zoop Global headcount: 85 Headquarters: Rio de Janiero Financial services company Zoop helps companies receive, process and manage payments through its digital platform. Having recently received an investment of more than $18 million from mobile commerce company Movile, Zoop now plans to increase its headcount by 50 percent in the coming months. 11. MaxMilhas Global headcount: 245 Headquarters: Belo Horizonte MaxMilhas is a flight booking site that allows users to buy airline tickets and trade air miles. The tech start-up has grown quickly in its six years and now boasts 900,000 registered users and a headcount of 245. In the coming year, the company plans to open up 100 new staff positions. 10. Hotmart Global headcount: 315 Headquarters: Belo Horizonte Internet company Hotmart provides a platform for users to sell and deliver digital products such as online courses, ebooks, videos and software. With an ever-expanding presence in Latin America, the company has recently set its sights on expansion outside of the continent, targeting Madrid and Amsterdam . 9. Sky.One Cloud Solutions Global headcount: 75 Headquarters: Sao Paulo Sky.One supports business with their cloud computing services. Founded by a group of IT experts in 2013, the business has grown in the last five years to a team of 75. However, a recent investment of more than $5 million by Invest Tech will see the company boost its headcount in the coming months. 8. Loggi Global headcount: 380 Headquarters: Sao Paulo Loggi provides delivery services within five of Brazil's most congested cities. Those services can range from the transportation of documents to companies to the delivery of food to restaurants. By July 2019, the business aims to launch in 13 more cities and expand its headcount by an additional 250. 7. CargoX Global headcount: 250 Headquarters: Sao Paulo CargoX uses machine learning and technology to support truck drivers and reduce inefficiencies on Brazil's famously congested roads. Having received investment from Goldman Sachs and Qualcomm Ventures, the fast-growing start-up plans to hire 350 more staff by next summer. 6. QuintoAndar Global headcount: 350 Headquarters: Sao Paulo QuintoAndar is an app to improve communication and facilitate payments between landlords and renters. With support from high-profile backers, the business plans to expand its network of 12 offices and double its headcount in 2019. 5. Stone Pagamentos Global headcount: 1,950+ Headquarters: Sao Paulo Tech company Stone Pagamentos helps entrepreneurs and small businesses with their digital payment systems. Following the successful listing of its competitor, PagSeguro, the company has set its sights on going public on the New York Stock Exchange soon. 4. Docket Global headcount: 95 Headquarters: Sao Paulo Legal technology start-up Docket provides a platform to help entrepreneurs manage and analyze their legal documents. In the past year, the two-year-old company's headcount has quadrupled. Over the coming months, that hiring spree is set to continue with the business on the hunt for tech, product and sales professionals. 3. GuiaBolso Global headcount: 192 Headquarters: Sao Paulo IT start-up GuiaBolso is on a mission to help Brazilians take better control of their finances by providing a series of free-to-use money management tools. Launched in Sao Paulo in 2012, the six-year-old start-up claims to be the country's most downloaded financial control app. 2. Creditas Global headcount: 468 Headquarters: Sao Paulo Creditas is a digital lending platform that claims to offer low interest rates in a country often dogged by high repayment charges. Headquartered in Sao Paulo, the growing business has built out quickly in its six years to a current headcount of 468. 1. Nubank Global headcount: 1,111 Headquarters: Sao Paulo Nubank, a digital bank and credit card operator, aims to reboot the outdated banking industry in Latin America with what it describes as "bleeding-edge technology, design and data." According to its LinkedIn page, the five-year-old company currently boasts four million active users and has received 16 million requests for its new 100 percent free-of-charge credit card. While the majority of Nubank's team is based in its Sao Paulo headquarters, the business also has an engineering hub in Berlin . To be considered for this year's list, companies needed to be privately held, be in operation for seven years old or less, and have 50 or more employees. LinkedIn then looked at the activity of its more than 500 million users to factor in employee growth, job seeker interest and engagement with the company on the professional network, as well as how well the upstarts were able to attract talent away from the established players on LinkedIn's Top Companies list. Like this story? Subscribe to CNBC Make It on YouTube! Don't miss: These are the 25 best start-ups to work for in India, according to LinkedIn More From CNBC These are the 25 best start-ups to work for in India, according to LinkedIn Here's how much an Emmy statue is worth Should you include low-level retail jobs on your resume? || Coinbase Rolls Out Crypto “Bundles” and New Educational Resources: Coinbase Bundle Coinbase is unveiling a suite of new initiatives designed to expand its market. In a blog released today entitled “Helping People Understand, Explore and Buy Cryptocurrency,” Coinbase is reaching out to potential newcomers to the crypto space — people who may want to join the crypto world but are unsure about how to proceed. The company’s offerings include some educational tools as well as a “Crypto Bundle” that are designed to take some of the trepidation out of a new user’s first crypto purchase. New Educational Tools Launch on Coinbase’s Website Recognizing the complexities that come with navigating the cryptocurrency industry’s many moving parts, Coinbase arrived at its new offerings following a survey of users and potential customers. AJ Asver , Coinbase product manager, told Bitcoin Magazine : "The products announced today are directly inspired by customer research we conducted with both current and prospective customers. We talked to them about some of the barriers they encounter when deciding whether or not to buy cryptocurrency, or which cryptocurrencies to buy, and used those conversations to inform the development of these products.” Coinbase Learn will take the viewer through the ins and outs of the crypto world, updating on a regular basis so that information is as current as possible. The content of Coinbase Learn is based on in-depth customer research and tested with people new to cryptocurrency to ensure it is as user-friendly as possible and helpful for those trying to decide whether buying cryptocurrency is right for them. Coinbase Asset Pages will list the top 50 cryptocurrencies based on market cap. Although Coinbase carries only five of those 50 cryptocurrencies on the asset list at the moment, it has plans to add more in the near future. Earlier this week, the company introduced a new asset listing program that is designed to enable new coins to be considered for inclusion on the Coinbase trading platform. Story continues For now, the Asset Pages are an educational tool for those interested in comparing cryptocurrencies on an ongoing basis. Historic trading data, current market cap, a description of the cryptocurrency, and links to relevant white papers and project websites can be viewed there. Coinbase Bundles For anyone who is ready to take that first step into buying cryptocurrencies but still isn’t sure which ones to start with, Coinbase has also begun to offer Coinbase Bundles : a pre-packaged collection of five coins (bitcoin, ether, litecoin, bitcoin cash, and ethereum classic, the five cryptocurrencies that Coinbase offers on its flagship service). “We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time,” the blog states. Coinbase calculates its bundle of five cryptocurrencies, based on current market cap, which can be purchased for $25 or more and traded individually or as a group. Once a bundle is purchased, the five cryptocurrencies are stored in their respective wallets in the user’s Coinbase account. Each cryptocurrency can be traded as an individual asset. Coinbase Bundles was rolled out today and will, at first, be available to customers in the U.S. and Europe who have verified their identities. “With Coinbase Bundles, asset pages and the new educational resources, we hope to ease the process of understanding, exploring and buying cryptocurrency for people getting started for the first time," said Asver. This article originally appeared on Bitcoin Magazine . || Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 9: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
While many experts and investors view the current crypto bear market as a negative, economist Tyler Cowen, professor at George Mason University, believes that a crash ispositivebecause it helps clean up the system. The dotcom bubble, though painful, wiped out the bad companies, paving the way for today’s leaders likeAmazonandGoogle.
Previously, the naysayers pointed to the sharp volatility in cryptocurrencies as a deterrent for mass adoption. However, since September, Bitcoin has traded in a tighter rangethanthe Argentine peso, the Turkish lira, the Brazilian real, the Mexican peso, and the South African rand. In fact, its range was only 2.7 percent greater than that of the safe haven currency, the Swiss franc.
Both on the way up and on its way down, Bitcoin has been the leader, whose price action is followed by the altcoins. However, someanalystsbelieve that this might change in the future and the next bull market might be led by one of the top altcoins. Let’s see what the charts forecast.
Bitcoinhas failed to attract buyers at higher levels. It turned down from $6,600 levels and easily broke below both the moving averages. This is a sign of weakness. The next stop is a fall to $6,250–$6,200.
A break below $6,200 will threaten the critical support zone at $6,075.04–$5,900, which has not been breached in 2018. Any break of this support can result in a sharp liquidation of long positions, dragging theBTC/USDpair to $5,450 and $5,000 within a short span of time. Therefore, traders can keep the stops at $5,900.
If the bulls support $6,200 levels, the leading digital currency can extend its stay in the range for a few more days.
Absence of follow up buying has pushedEthereumto the 20-day EMA. If this support breaks, it can slide to the lower support of $200 and $188.35. The downtrend will resume if the bears sink prices below the Sept. 12 lows of $167.32.
If the bulls defend the 20-day EMA, theETH/USDpair might attempt to rise above $225.12 once again. We will turn positive on a breakout and close above $249.93. The flat moving averages and the RSI close to 50 suggests that consolidation might continue for a few more days.
Price action inside the range is usually volatile and can hit stops quickly. Therefore, positional traders can wait for a breakout and close above $249.93 before initiating any long positions. On the other hand, aggressive traders can buy close to the bottom of the range, near $188.35, after the digital currency shows signs of moving up.
Rippleis not finding buying support at higher levels. After breaking out of the tight range, it has corrected back to the moving averages that are sloping up. We anticipate the bulls to offer strong support at current levels.
If theXRP/USDpair bounces off the moving averages or from the breakout levels of the tight range, it will attempt to breakout of $0.565 once again. If successful, the digital currency can reach $0.625 and $0.7644.
On the other hand, if the bears sink prices below the moving averages and the tight range, a fall to $0.37185 is probable. For now, traders can retain the stops at $0.425, a level below which our bullish assumption fails.
Bitcoin Cashhas turned down from the critical overhead resistance of $660.0753. We were expecting this, hence, we recommended booking partial profits in ourpreviousanalysis.
The current pullback can extend to the moving averages, which have completed a bullish crossover; hence, we anticipate a strong support at the 20-day EMA. The RSI has also corrected its overbought levels, therefore, theBCH/USDpair might try to breakout of $660.0753 once again. If the attempt fails, traders can close their positions.
Our bullish view will be invalidated if the bears continue to pound the digital currency, sinking it below the moving averages and $400.
EOShas turned down from close to the top of the tight range. It is currently back at the midpoint. If the bears push prices below the 20-day EMA, a fall to the bottom of the range is probable. Traders can keep the stops on their long positions at $4.90.
A breakdown of $5 can sink theEOS/USDpair to $4.49 and below that to the critical support at $3.8723. However, we expect the bulls to offer strong support at $5.
The virtual currency will show signs of strength if it breaks out of $6. A reversal will be signaled when the bulls sustain the price above $6.8299. Following a breakout, the target levels to watch on the upside are $9.1668 and $11.4.
Stellarcontinues to trade above the moving averages and the downtrend line of the descending triangle. As the virtual currency is consolidating after breaking out of the downtrend line, we shall retain our buy suggested in thepreviousanalysis.
If our buy gets filled, the target objective if $0.36, with a minor resistance at $0.304. Though we expect this level to be scaled, in trading, we should be ready for any eventuality. Therefore, if the bears defend $0.304, traders can either close their position or raise their stops to breakeven. The initial stop loss can be kept at $0.2, which can be quickly trailed higher after the position gets filled.
Our bullish view will be invalidated if theXLM/USDpair breaks below both the moving averages and re-enters the downtrend line of the triangle. The downtrend will resume on a breakdown of $0.184.
Litecointurned down from the downtrend line. It has broken below both moving averages and is likely to retest the support zone between $49.466–$47.246. Traders, who are left with partial positions can maintain their stops at $50.
TheLTC/USDpair remains bearish as long as it trades inside the descending triangle pattern. The downtrend will resume if the bears break below $47.246.
The pattern will be invalidated if the bulls breakout of the downtrend line of the triangle. Such a move can push prices to the top of the range at $69.279. We expect a trend change if the virtual currency breaks out and closes (UTC time frame) above $69.279.
Cardanois largely trading inside the tight range of $0.082207–$0.068989 since Oct. 12. After finding support at $0.068989 on Oct. 31, the price rallied to the top of the tight range at $0.082207 on Nov. 6.
However, both these levels held out strongly. While the bulls defended the bottom of the range, the bears defended the top of the range.
With both moving averages flat and the RSI at the midpoint, theADA/USDpair is not giving any clear insight about the next move. We anticipate a new uptrend if the bulls push prices above $0.094256. Until then, we suggest trades remain on the sidelines. If the virtual currency breaks down of $0.060105, it will resume the downtrend.
After failing to breakout of the $112.44 level for four days,Monerohas turned down and broken below both moving averages.
Unless the bulls scale the moving averages quickly, a decline to the bottom of the tight range at $100.453 is probable.
The flat moving averages and the RSI close to 50 suggests that the range bound action is likely to continue. TheXMR/USDpair is not showing any reliable buy setups; hence, we are not recommending any trade.
TRONhas been trading inside the $0.02815521–$0.0183 range since Aug. 8. Between Aug. 8 and Oct. 15, the price rose to the top of the range thrice and fell to the bottom of the range on two occasions.
However, since then, theTRX/USDpair has largely been gravitating close to the midpoint of the range. Any deviation from the center gets pulled back quickly.
A new trend will form either on a breakout or a breakdown from the range. A rally and close (UTC time frame) above $0.02815521 can result in a move to $0.04158193. Below $0.0183, the downtrend will resume.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, November 5
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 31
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 7
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, November 2 || Can Sonos Stock Bounce Back?: You don't get a second chance to make a first impression, and it's safe to say that Sonos (NASDAQ: SONO) didn't get it right the first time. The maker of high-end wireless speakers has seen its stock plummet 22% over the past four trading days, taking a hit after its first quarterly report as a public company failed to impress the market. It's been a bumpy first six weeks of trading for Sonos. The stock is 11% above its early August IPO price of $15 , but the shares have fallen nearly 30% since peaking on their second day of trading. Last week's earnings report could've been the kind of report that would've catapulted a debutante into the ranks of market darlings, but it didn't live up to the hype. Sonos speaker with a smartphone. Image source: Sonos. Sonic distortion Revenue fell 7% in Sonos' fiscal third quarter. The decline isn't a surprise. Sonos spelled it out in the prospectus ahead of last month's Wall Street debut. Sonos actually landed at the very top of its preliminary revenue range. It did post a much larger loss than analysts were targeting, but no one is judging the tech-savvy audio system pioneer on its current profitability. A couple of analysts chimed in with fresh updates to explain the post-earnings sell-off. Brent Thill at Jefferies is telling clients that investors were hoping for Sonos to issue more robust guidance. It's calling for 14% to 16% top-line growth in the current quarter, in line with Wall Street expectations. He sees the stock meandering until the market gets greater clarity on how new products will shape its near-term future. He has a hold rating and a $23 price target. Katy Huberty at Morgan Stanley also blamed the sell-off on the uninspiring outlook for the fiscal fourth quarter. She's waiting until the market gets its first impression of how consumers embrace the company's new products during the seasonally potent holiday shopping season. She has a neutral equal weight rating and a lower $20 price target. Story continues Thill and Huberty having lukewarm ratings on the stock matters. Jefferies and Morgan Stanley were two of the underwriters tasked to take Sonos public last month. The good news is that Sonos isn't broken. The fiscal third quarter's decline was a fluke, as the release of the big-ticket PLAYBASE -- its first entry in the home theater sound base niche with a $699 price point -- inflated reported revenue a year earlier. Sonos actually sold 11% more devices during this quarter than it did a year earlier. It just had to settle for lower price points given the product mix. Growing its installed base of users should be enough. Sonos is competing against the tech giants putting out heavily subsidized voice-activated digital assistants that double as entry-level home audio systems. The company is in a tough spot, but last month's public debut finds it flush with IPO cash to keep innovating until it raises the bar. The current quarter's return to double-digit growth should appease investors, and if that doesn't do the trick, it probably won't be long before Sonos is floated as an acquisition candidate for a tech giant seeing the value in nabbing a high-end brand in this growing market. Sonos had a rough run last week, but things should get better from here. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Newsflash: Bitcoin Price Breaks South, Drops to $6,211: The bitcoin price took a southward turn on Monday, dropping beneath $6,300 as the cryptocurrency market experienced a jolt of volatility.
Bitcoin had been uncharacteristically stable in recent weeks, so much so that its price briefly becameless volatilethan major Wall Street stocks including Amazon and Netflix. However, trading volumebegan to tick up on Sunday, rising 20 percent to $3.5 billion, a data point that some analysts said could predicate a break into the high $6,000 region.
But while the bitcoin price did make a run on Monday, it was not to the upside.
OnCoinbase, the flagship cryptocurrency — which had been trading at $6,400 earlier in the day — took a southward turn shortly after 11:15 UTC, dropping below the $6,300 mark and continuing to decline from there. BTC/USD slipped as far as $6,211 on the prominent US exchange before creeping back up to $6,273 at the time of writing.
Clickherefor a real-time bitcoin price chart. Stay tuned for detailed technical analysis on the latest market action.
Featured Image from Shutterstock. Charts fromTradingView.
The postNewsflash: Bitcoin Price Breaks South, Drops to $6,211appeared first onCCN. || Hublot's new watch is a perfect fit for Bitcoin millionaires: Here's something you can proudly wear to you next cryptocurrencyyachtcruise.
Swiss luxury watch maker Hublot is celebrating the10th birthdayof Satoshi Nakamoto's Bitcoin whitepaper with a watch that screams "Bitcoin."
SEE ALSO:Satoshi Nakamoto's Bitcoin whitepaper turns 10
The Hublot Big Bang Meca-10 P2P, as it's unironically called, is a 45mm wristwatch with a case made out of microblasted and polished black ceramic, with a skeleton dial (meaning you can see the watch's innards) and 10ATM water resistance.
The movement is automatic — Hublot's own HUB1201 — and the watch has a 10-day power reserve.Read more...
More aboutBitcoin,Hublot,Bitcoin Watch,Tech, andCryptocurrency Blockchain
[Random Sample of Social Media Buzz (last 60 days)]
It is official:
The #TRON special LIVE webinar will take place today at 17:00 (05:00 pm GMT)
Join using this link: https://webinar.getresponse.com/hdoZq/special-bitbay-live-webinar …
#TRON #TRX #Trading #Money #Bitcoin #Altcoin #Webinar $Trx #China #BitBaypic.twitter.com/iR4sahv42e || dash/btc: 0.0284
dash/usd: 187.43
btc/usd: 6579.0 || #BCH
Buy at #Bitstamp and sell at #LiveCoin. Ratio: 1.00%
Buy at #Bitstamp and sell at #YoBit. Ratio: 2.02%
Buy at #Koineks and sell at #YoBit. Ratio: 1.57%
Buy at #Cex and sell at #YoBit. Ratio: 1.42%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || Current price: $0.023069
Node count: 1290
Total accounts: 579933
Coins burned: 3,525,834.00 TRX
#tron #trx $trx $btc #btc || #CryptoCotización
Precios actualizados a las 00:01:09.
#bitcoin #ethereum #ripple #bitcoincash #litecoin #eos #neo #crypto #criptomonedaspic.twitter.com/MYJANj0Su7 || #BTCUSD Market #1H timeframe on October 2 at 09:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || I'm about to go straight Office Space on the AMD miner tonight. Done had enough. "Damn it feels good to be a gangsta"
#cryptomining #BTC #SledgeHammer #TargetPractice #FuckdaNeighborsFellings || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 0.33 % || 14-10-2018 12:00
Price in #USD : 0.1410666458 || Price in #EUR : 0.1218824284
New Price in #Bitcoin #BTC : 0.00002241 || #Coin Rank 606 || Cotización del Bitcoin Cash: 521 60.€ | +1.6% | Kraken | 08/11/18 14:00 #BitcoinCash #Kraken #BCHEUR || #Doviz
-------------------
#USD : 5.5568
#EUR : 6.3420
#GBP : 7.1801
--------------------------------------
#BTC
-------------------
#Gobaba : 35275.29
#BtcTurk : 35089.00
#Koinim : 34875.00
#Paribu : 35170.00
#Koineks : 35141.01
|
Trend: down || Prices: 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-09-06]
BTC Price: 6529.17, BTC RSI: 41.63
Gold Price: 1197.90, Gold RSI: 45.34
Oil Price: 67.77, Oil RSI: 46.26
[Random Sample of News (last 60 days)]
Cryptocurrencies and Their Consistent Robbery! Are They Really “Indomitable”? What are Stable Coins?: Cryptos’ has seen a widespread green in the last two years as a result of a consistent f ight for a right . The power of the people and for the people has been cleverly translated as a “ digital chaos ”, by the central banks and the chattering governments. However, what stays a fact, still, is the presence of cryptocurrencies, they are still there and they continue to breed. “Virtual Currencies may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”- Ben Bernanke BTC dominance is slowly fading- a window of opportunity for other cryptocurrencies ; it’s future, as a consummation of its controversial popularity, remains still buoyant. BTC , at the time of writing , is at 6700.23 USD, striving to hold its gains, and, Ether , another crippled yet principle performer, breathes through its turtle pace, at 290. 70 USD. These digital assets, nonetheless, are riding towards a momentum that has been taken seriously by investors. The whole Crypto evolution, surviving on Blockchain- a decentralized, incorruptible, and secure public ledger , highlights a lot of questions, all of which, I answer one by one! Starting with crypto theft! Cryptocurrency theft Around $ 1 Billion cryptocurrencies ware stolen in the first half of 2018 ; disclaimer, it was really easy to do , according to an article by CNBC and reports curated by Carbon Black . The malware that is used and patterned along with a customer service is as cheap as $ 1.04 on the dark web and costs $224 on the surface web. This means that the crypto ecology is susceptible to an easy manipulation which depends directly on any frustrated yet talented hacker. Carbon Black Security strategist Rick McElroy, in an interview with CNBC, states: “It’s surprising just how easy it is without any tech skill to commit cybercrimes like ransomware,” and continues to quote “ It’s not always these large nefarious groups, it’s in anybody’s hands.” Story continues These thefts come from crime groups dedicated to extorting exchanges and companies while organized cartels are also responsible for these sudden strangling of cryptocurrencies. Since cryptocurrencies are not entirely bulletproof, a fact only crypto ideated audience knows , the chances of anyone sitting in any Atlantic corner of the world, having decent coding skills is capable of dissecting the digital currency, for a reason as nominal to paying the rent. With the theft news becoming a significant resident of all news channels critical of Blockchain and Cryptocurrencies, another question comes up; Which cryptocurrencies can survive in the real economy? Since not much is known about the overwhelming majority of cryptocurrencies so far, which means the fate of around 1,385 coins in the markets today is unpredictable; still, they are being bid up to multi-million dollar valuations. Let’s talk facts with an example here, Dogecoin , created as a fun response or a parody to the Bitcoin boom, at present has a valuation of $ 1.6 billion (at the time of writing). What’s more surprising is that the coin has no use case to back its accidental fame and yet investors are ready to make a wild bet with Dogecoin. It is easy to determine the most prominent survivors in the list of most-traded cryptocurrencies. Here are some of my predictions: Bitcoin: Emerging more of a store in value, Bitcoin the original cryptocurrency will stay and will continue to survive the market crash in future. BTC and Litecoin: Preferred for more daily transactions, both the cryptocurrencies are fast becoming a valid choice. Ether : Built on Ethereum’s universe of decentralized applications, the cryptocurrency is fast gaining traction, and has emerged out of its haunting past of continuous hacks. Dash : With its innovations in mining and fast processing, Dash has come out from the uniform of a fresher cryptocurrency and has promoted itself to a revolutionary digital asset. Dash CEO, Ryan Taylor claims confidentiality: “We are the largest (cryptocurrency) in the space that is positioning ourselves as a payment network” . Stable Coins: Created as a resolution to cryptocurrency volatility. Knowing that above coins have somewhere a future, the next thing I intend to discuss is what significant changes are new companies making to save crypto world an ongoing embarrassment. What progress has companies made so far to ensure the safety of cryptocurrencies? Since now we know, the history, present acceptance, issues, existing crypto theft trauma and rapid exchange crash, the next question arises which can fight for the crypto stakes, that is, what is the solution to all this? Utility Tokens or more popularly known as User Tokens/App Tokens are not designed as investments unlike other ICOs, instead, they are designed keeping in mind the barter system. According to Strategic Coin , a startup can actually sell “digital coupons” in an exchange for its services to its clients or customers. As an example, Filecoin , has raised around $ 257 million which had happened by selling tokens that offered users to have access to its own decentralized cloud storage platform. An innovative and bold step to promote service offerings other in an exchange of digital coupons which provokes trust in the whole crypto universe. On the other hand, Rockz , a fully transparent asset-backed coin, claims to bring solidity, and trust in the crypto network and looks at changing the present standpoint of cryptocurrency. The network works on a 95% physical paper deposited in vaults and high-security bunker claims to fully support its investors and customers in case of bankruptcy. This means the value is stored physically which a sense of freedom to its users. How effective this sensible and much-needed change turns out to be, has to be judged. Other than, Rockz, Security Token Offerings or STOs are the new kids on the crypto block. In the real world of investing, STOs works on the proposition of securing the money of investors as it is more fraud-proof and cannot be manipulated easily. “Securities Token Offering aka STO is the next step towards legitimizing investor offering schemes for digital asset initiatives.” Apart from these ICOs playing their luck, the crypto market also has something “stable”, part of which I discussed in the first half of this read. Here’s my screening of the coin so far. Suggested Articles Ripple vs. Stellar: Will There Be Only One Winner? The Separation of Ripple and XRP: Why it Happened? What Does it Mean and What are the Differences? The Difference Between Fiat Money and Cryptocurrencies The Stable Coins Debate: Trustworthy coins with low volatility or just highly anticipated market tool. As the name suggests, Stable coins were launched in the market, as an attempt to maintain steady valuations in an era where cryptocurrencies rise and fall every single second. Since these unpredictable swings are nowhere characteristics of a currency, at the end they become impractical to use. What are Stable Coins: A currency generally used as a mode of storage of value and a medium of exchange, with a stable value. Stable coins were launched in an attempt to accomplish the ideal currency behavior, that is spending the coins, and not storing them with minimum inflation. I feel Stable coins are more of a representer, an ambassador for cryptocurrencies, as its increasing adoption will act as a catalyst to popularize the daily use of cryptocurrencies, and not store them. The stable alternative to other crypto coins, Stable coins, holds the capability to promote trading of goods and services, established over a blockchain application and assist in integrating financial applications as well as support market predictions. According to Rafael Cosman, founder, and CEO of Trust Token comments on the potential of Stable Coins: “Stable coins are one of the keys to bringing the benefits of cryptocurrencies to everyday people, both in terms of price stability and decentralization of capital”. What comes ahead in my verification is how the validity of stable coins be ensured in future? The “ Stability ” of Stable coins can eventually strengthen the entire backbone of international banking, as they give a liberty to update the core compliance structure of banking. Based on the decentralized moto, Stable coins will eventually uplift efficiency, and promote transparency further improving the user experience. As an example, Stronghold USD is at present launching a new stable coin of their own based on Stellar Network. After a successful launch, this would become the first venture-backed up by USD token. In my opinion, this is a bold step by IBM, and it is not a surprise since IBM has its own Blockchain Platform launched within these two years of crypto and blockchain fame. Based on a similar pattern, Rockz has planned to issue a stable Rockz token, backed by the Swiss franc, which allows the cryptocurrency community or audience to get a reliable and legal tool. This can be used for buying and selling of goods and services, as well as fixating market profits which can, on the other hand, generate crypto trust that is missing from the market. Before closing this article, I want to discuss one more issue, that is recurring like a bad migraine in the crypto universe. Wallets, Exchanges, and Digital Banks to secure cryptocurrencies; How true are they? The psychological impact of continuous crypto robbery has created a crack in the trust investors had in blockchain earlier, and the audience as well. As Investopedia reveals, the most high-profile hacks of this year are Bithumb: $30 million, BitGrail: $195 million, Coincheck: $534 million, and Coinrail: $37.2 million. Exchange crash and crypto theft are shaking the faith of the investors lately and with these vibrant hacks, a frozen effect is immediately seen on the crypto values. From where I see, it cannot be said that nothing can be done or is not done, cyber attack is as old as the internet and will continue to exist, if not tackled sooner. Cryptocurrencies have a big future and they might be mankind’s only chance to have control in their own hands. They are not perfect yet, but it is a good thing, that they are there. Crypto world is indeed capable of trust, let’s cherish the opportunity it provides. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis – August 23, 2018 Forecast E-mini Dow Jones Industrial Average (YM) Futures Analysis – August 23, 2018 Forecast Uncertainty Creeping into Stock Markets – And That’s Bad for Traders How to Earn Steady Passive Income from Cloud Mining Bitcoin – SEC Says No to ETFs Precious Metals on Bear’s Path as USD Gains Strength from Hawkish Fed Update || SamSam Ransomware Makers Rake in $6 Million in Bitcoin: Research: The SamSam ransomware has grossed its creator over $6 million in Bitcoin since late 2015, according to research from cybersecurity firm Sophos.
The UK-based cyber-security firm published its findings in what is believed to be the most comprehensive research on the SamSam ransomware. The study is based on the data collected by the researchers from the SamSam’s past attacks, victims’ testimonies, and data mining samples. The outcome is a47-page reportthat contains a detailed analysis on how the attacker(s) targeted, and siphoned off ransoms from some 233-victims in total.
Sophos study finds that the SamSam operated differently than most of the ransomware threats. In general, hackers perform mass-distribution schemes to spread ransomware through email spamming, phishing websites, or malware-enabled advertisings. But in the case of SamSam, the attacker(s) selected one victim at a time. Initially, they exploited vulnerabilities in JBOSS systems to earn privileges that would enable them to copy their ransomware into the network.
Once the JBOSS team fixed the vulnerability, the attacker(s) moved to the internet for allegedly purchasing lists of vulnerable servers, with insecure RDP connections, from the dark web. They launched brute force attacks on machines with relatively weak credentials; thereby, gaining access to the network.
Upon gaining the network access, the attacker(s) use a bunch of hacking tools and spent days to elevate their privileges to the point when they assume the role of a domain admin. They follow up by scanning the network for target computers, find it, and deploy the malware using legitimate Windows network administration tools such as PsExec.
Once SamSam operator(s) gain access they need, they wait for nighttimes or weekends to launch the SamSam code via the hacked servers into the victims’ machines – single or bulked workstations. And as any ransomware would behave, SamSam too encrypts PC’s data, leaving behind a ransom note for the victim.
Sophos researchers also partnered with Neutrino, a digital currency and blockchain data monitoring firm, to look into SamSam’s Bitcoin transaction records. The pair trailed each Bitcoin transaction to find victims – and funds – that were missing in the earlier reports.
In total, Sophos and Neutrino identified 157 unique Bitcoin addresses that received the ransoms. The combinative study also found 89 Bitcoin addresses that were mentioned on ransom notes but didn’t earn any money down the road. Overall, the SamSam operator(s) used three wallets, out of which only one is active to this date. This mobile wallet has received payments from 8 different addresses to this date.
Since 2016, the SamSam operator has made around $300,000 every month from its victims, which happens to include some high-profile targets from healthcare and government. However, Sophos study finds that the private sector has suffered the most. In another revelation, 74% of the victims belong to the United States, while and the UK and Canada follow with 8% each.
Sophos report also mentions the evolution of the SamSam ransomware, with each upgrade receiving better protection to keep security researchers in a blindfold. The study mentions a possibility that the SamSam ransomware now uses stronger obfuscations for its code while conducting all the financial transactions in the dark web. It reads:
“Since the end of 2015. SamSam has evolved to focus on two main objectives: First, to improve the deployment method so that the impact on victims is greater; Second, to make the analysis of the attacks harder, further helping to keep the attacker’s identity a secret.”
But Sophos argue that SamSam is a work of an organized criminal racket. Instead, the study believes that it is the work of an individual.
Featured image from Shutterstock.
The postSamSam Ransomware Makers Rake in $6 Million in Bitcoin: Researchappeared first onCCN. || Another Top-5 Cryptocurrency Exchange Plots Move to Malta’s ‘Blockchain Island’: Another day passes by and although August is a traditionally slow month in the business and finance circles,Malta does not seem to be resting on its laurels at all. After several announcements regarding cryptocurrency exchanges and crypto banks, we now have the announcement coming that ZB.com, the world’s fith-largest cryptocurrency exchange by daily trading volume, is setting up shop on the sunny Blockchain Island.
ZB.com will set up its operations in Europe with the launch of a new exchange in Malta. The company, which is the world’s fifth-largest cryptocurrency exchange by traded value, will open an office in St Julian’s, a bustling business centre in the heart of Malta. This latest announcement follows those by Binance, OKEx and DQR, who have alsoopened officeson the island.
Parliamentary Secretary for Digital Economy and Innovation Silvio Schembri also tweeted about the announcement and told CCN that this was another link in the chain for Malta to cement its leading position in the cryptocurrency space.
The company will initially start out as a crypto-to-crypto exchange and will eventually look to offer fiat-to-crypto trading pairs through its new platform based out of the European island nation. This is the third exchange that is coming up with this proposition, after Binance and Bitbay.
“Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon,” co-founder Jimmy Zhao said.
Other countries appear to be hesitant in the crypto space with several stalling on their regulation and implementation of crypto and blockchain companies. However, this does not seem to be the case in Malta,where the Virtual Financial Assets Act and two other crypto bills have sailed through the parliament. The bills are currently undergoing a consultation process, so there is still no tangible exchange which has started up yet since the blockchain laws will not come into effect until Oct. 1.
Zhao said he had recently been invited to Malta by his local partners and met with the Maltese government to discuss their crypto exchange operations. “You quickly realize Malta’s commitment to building and supporting the crypto ecosystem,” he added.
ZB.com regularly ranks among the five largest cryptocurrency exchanges in terms of daily trading volume, according to CoinMarketCap, trading an average of about $400m daily. The proprietary technology behind ZB.com also supports several other top-tier exchanges such as EXX.com.
ZB.com is strictly a cryptocurrency exchange and does not offer any other type of tradeable assets. That being said, there are various markets in which these cryptocurrencies can be traded. For instance, traders can exchange cryptocurrencies against QCash (QC), tether (USDT), and bitcoin (BTC).
Featured Image from Shutterstock
The postAnother Top-5 Cryptocurrency Exchange Plots Move to Malta’s ‘Blockchain Island’appeared first onCCN. || Pay From Bitcoin Mainnet to Lightning and Back: Submarine Swaps Are Now Live: In order to make payments on the lightning network — Bitcoin’s second layer solution for instant and cheap transactions — users must first fund lightning channels. This process, however, creates a slight disconnect between lightning users and on-chain users. Lightning users can pay lightning users, and on-chain users can pay on-chain users, but they can’t pay one another directly.
To solve this, “Submarine Swaps” allow users to make trustless transactions between lightning addresses and on-chain addresses in either direction. The technology could be a game changer for both Bitcoin lightning and mainnet users, as it would remove the transaction barriers between them.
“[I] think this makes it a lot more attractive to [run] a lightning-only service,” Submarine Swap’s developer Alex Bosworth toldBitcoin Magazine, as on-chain users wouldn’t beexcluded. “You don't have to [...] worry about including the on-chain people,” he said. “You can outsource that to somebody else, and you don’t have to trust them.”
Using the same cryptographic tricks as those used in the lightning network, Submarine Swaps use a trustless middleman to link a Lightning channel transaction with an on-chain one. This middleman, likely a program called a swap provider, is tasked with settling both the on-chain and off-chain transactions with both users, bridging the gap between Bitcoin’s network and the lightning network.
If one lightning network user wants to send funds to an on-chain user, for example, the middleman will transfer these funds to its own lightning wallet, if (and only if) he sends a transaction with comparable funds on the Bitcoin blockchain to the desired on-chain address. The process works the same in the inverse if an on-chain address wants to send funds to a lightning address.
“There's lots of different ways it can be used,” Bosworth said. “So let's say an exchange wants to send to a lightning invoice but it doesn’t have lightning funds, or it doesn't have a lightning wallet; in that case, it could ask somebody who does have that to assist them, and then they could do so in a way where its locked to their on-chain unit.”
He continued to explain that the feature could ultimately be integrated into wallets, enabling an on-chain client “that doesn’t even know about lightning” to transact with its users.
Bosworth also pointed out that the swap providers could be the one and the same person. “It’s flexible in that respect. So you can have it be either a [third party] or it could even be yourself.”
When asked if the swapping mechanism would want for liquidity, Bosworth said that he believes transaction rewards will incentivize enough users to front their bitcoin for transactions. “[Users] are incentivized by the swap rate to provide liquidity, I think that will attract more liquidity. This is a low risk operation, so I can either have my coins just sit there doing nothing or I can have them available for swaps and generate some revenue,” he stated.
The Submarine Swaps concept was originallyconceptualizedby Lightning Labs CTO Olaoluwa Osuntokun — though Bosworth came up with the same idea independently. The technology can be applied in various use cases, as Bosworth envisions.
The technology is still in its infancy, as Bosworth explained, and it’s also contingent on the development of existing lightning network applications.
“I’ve started doing tests on mainnet, and you can try testing it out on Submarine Swaps so you can see a swap in action, but there’s lots of stuff to work out and the LND still needs work; they’re working on a major new release, so things are moving along but I wouldn’t say it's like super safe because not everything is 100 percent yet.”
This article originally appeared onBitcoin Magazine. || China Tariffs, Apple vs Facebook, Bitcoin ETFs: CEO Daily for August 23, 2018: Good morning.
Those of you who believe brick-and-mortar retail is dying should take a close look at Target’s results, out yesterday. They killed it. Biggest comparable year-over-year sales gain in 13 years–up 6.5%. And that included not only a stunning jump in digital sales–up 41%–but also a solid increase in same store sales–up 5%. The lesson,saysFortuneretail guru Phil Wahba, is that e-commerce and stores can “enhance one another, rather than eat into each other’s business.”
No doubt some of the growth reflects the overall strength of the economy, which the Fed Reserve’s minutes touted yesterday. But Target’s sales growth beat that of rivals such asWalmartand Kohl’s. I give credit to CEO Brian Cornell, whose data-driven approach to retailing appears to be paying off. The company also has been helped by the launch of a dozen new brands in the last 18 months, giving shoppers a fresh reason to come to its stores.
Speaking of bricks and mortar, ServiceChannel CEO Tom Buiocchi was by theFortuneoffices yesterday. The company, funded by Accel, has created a technology platform that helps retailers source repair and maintenance contractors in multiple locations from a single dashboard. It’s one more example of how technology is transforming even the most mundane aspects of earthbound businesses.
More news below.
China Tariffs
A new phase of the U.S.-China trade war kicked in today, with the U.S. slapping tariffs on $16 billion worth of Chinese imports and Beijing retaliating with equivalent taxes on American goods such as cars, steel products, fuel and medical equipment. As China experts note, neither side looks likely to give in, so expect further escalation.Bloomberg
Apple vs. Facebook
Apple has booted a Facebook-owned app from its iOS platform. The Onavo Protect app provides a virtual private network (VPN) that lets people protect their traffic from prying eyes—except those of Facebook, as it sends users’ traffic to the social network’s servers, reportedly giving Facebook a way to track people’s use of rival companies’ apps. Apple told Facebook the app violated its rules on the collection of data by developers. Facebook apparently agreed to take it down.Wall Street Journal
Bitcoin ETFs
The SEC has nixed more proposals for a Bitcoin exchange-traded fund (ETF) from outfits such as ProShares, GraniteShares and Direxion. The regulator previouslyturned down the Winklevoss twins’ plansfor a Bitcoin ETF. Essentially, the SEC’s issue is that the applications didn’t outline enough protections against fraud and market manipulation, and didn’t demonstrate that Bitcoin futures markets would be sufficiently large.CNBC
Saudi Aramco
Saudi Arabia has denied ditching its plans to float national oil firm Saudi Aramco, which it was reported to have done. Riyadh now says the IPO will go ahead “at a time of its own choosing, when conditions are optimum.” TheFinancial Timesreports that the Saudis are also looking at alternatives for filling up its sovereign wealth fund, which was the point of the exercise.FT
Mystery Cohen Link
Which tech company did erstwhile Trump lawyer/fixer Michael Cohen pay $50,000 in connection with the now-president’s election campaign? According to legal documents, in 2016 Cohen paid out the sum for work “solicited from a technology company during and in connection with the campaign.” Per CNBC, “the way that Cohen reported the $50,000 expense to the Trump Organization in January 2017 suggests the money may not have been paid out through traditional financial channels.”CNBC
Verizon Throttling
One of the big fears when the FCC rolled back the U.S.’s net neutrality rules was that operators would start cutting certain services’ connection speeds for commercial reasons. Now, Verizon has admitted throttling the connections of firefighters in California, as they were battling a record-breaking blaze. However, the operator has denied doing so because of the net neutrality rollback, saying instead that it was a customer service mistake. When the firefighters noticed their connection speeds were down, they complained only to have a Verizon rep tell them they needed a more expensive data plan.NBC
Germany on America
German Foreign Minister Heiko Maas yesterday raised eyebrows by proposing that Europe should stop depending on the U.S. so much, in particular, by developing a financial transaction system that’s free from U.S. control—the SWIFT payment network may be based in Belgium, but payments go through U.S. clearing houses, which is why the U.S. can block transactions between the EU and Iran. However, Chancellor Angela Merkel then said Maas hadn’t cleared his diatribe with her beforehand, and she shot down his payment network plan.Politico
Uber Grows Up
Marketing professor Tim J. Smith writes forFortunethat Uber is finally growing up under the leadership of Dara Khosrowshahi, in a variety of ways: it is respecting regulators, co-opting competitors, and ditching its “brogrammer” culture. Smith: “Along with cultural change, Khosrowshahi has also cleansed the executive ranks. The chief of human resources, chief product officer, and several others departed in the last year. Overall, of the 16 executives running Uber when Kalanick left, only seven remain at the company.”Fortune
This edition of CEO Daily was edited byDavid Meyer. Findprevious editions here, andsign up for other Fortune newsletters here. || Bitcoin Cash, Litecoin and Ripple Daily Analysis 18/08/18: Bitcoin Cash Hits $600 Bitcoin Cash rallied 16.77% on Friday, following Thursdays 0.92% gain, to end the day at $602.4. It was a day long rally, with a start of a day intraday low $515 holding above the first major support level at $499.37. Bitcoin Cash broke through the first major resistance level at $535.67 by mid-morning, with a pickup in appetite across the broader market leading to a breakout. Bitcoin Cash broke through the second and third major resistance levels to a late in the day intraday high $604.9 before easing back to $602.4 by the days end. At the time of writing, Bitcoin Cash was down 1.99% to $591.8, Bitcoin Cash pulling back from a start of a day morning high $610 to a low $589.6 before steadying, the early moves leaving the major resistance and support levels untested. For the day ahead, a move back through to $600 would support a run at the first major resistance level at $633.2, though Bitcoin Cash will need to hold on to $590 levels through the morning to avoid a pullback later in the day, some degree of profit taking likely to pin back Bitcoin Cash in the early hours. Failure to break out from $600 to take a run at $630 levels could see Bitcoin Cash take a hit later in the day, any fall through $575 likely to bring the first major support level at $543.3 into play before any recovery, though we would expect any losses on the day to be relatively minor in the event of a sell-off that should leave the major support levels untested. {alt} Get Into Bitcoin Cash Trading Today Litecoin Hits the $60s Litecoin jumped by 11.25% on Friday, following Thursdays 1.89% gain, to end the day at $61.72. Tracking the broader market, Litecoin rallied from a start of a day intraday low $55.16, which held above the first major support level at $53.84, to a late in the day intraday high $61.88. The moves through the day saw Litecoin break through the first major resistance level at $57.39 and second major resistance level at $59.31, with the break into $60 levels the first since Monday. At the time of writing, Litecoin was down 1.65% to $60.8, an early rally through to a morning high $62.6 coming up short of the first major resistance level at $64.01, with Litecoin succumbing to a broad based market slide, investors taking some money off the table following Fridays rally. A pullback to a morning low $60.45 saw Litecoin steer clear of the first major support level at $57.29 and more importantly hold on to $60 levels. For the day ahead, a move back through to $62 levels would support a run at the first major resistance level at $64.01, though we can expect Litecoin to face some resistance on the move through to $63 levels, holding on to $60 levels through the morning key to supporting a rebound later in the day. Story continues Failure to hold on to $60 levels through the morning could see the days first major support level at $57.29 come into play before any recovery, with the second major support level at $52.87 unlikely to be tested barring materially negative news hitting the wires. {alt} Buy & Sell Cryptocurrency Instantly Ripple Makes a Splash Ripples XRP led the way on Friday, surging by 25.23%, following Thursdays 4.71% gain, to end the day at $0.36668. A shift in sentiment through the day saw Ripples XRP break through the major resistance levels to a late in the day intraday high $0.37481, before easing back to $0.36 levels, Ripples XRP holding above the third major resistance level at $0.3459 at the days end. News of Ripple Labs naming three exchanges, in the U.S, Mexico and the Philippines, to support cross-border transactions and permit the trading of local currency with Ripples XRP supported the sizeable move, though sentiment across the market had already been on the mend in the latter part of the week. At the time of writing, Ripples XRP was down 4.12% to $0.35333, with Ripples XRP pulling back from a start of a day $0.37267 high that came up short of the first major resistance level at $0.39777. For the day ahead, holding above $0.3438 will be key to support a recovery later in the day, with a move back through to $0.36 levels signaling a run at the first major resistance level at $0.39777, though we can expect Ripples XRP to face plenty of resistance following Fridays surge. Failure to hold above $0.3438 will likely lead to a more material sell-off to bring the first major support level at $0.3129 into play before any recovery, sub-$0.30 support levels unlikely to be tested on the day. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Weekly Price Forecast Euro hanging on for dear life GBP/JPY Weekly Price Forecast British pound continues to struggle against Japanese yen USD/JPY Price Forecast US dollar falls against yen to close out the week S&P 500 Price Forecast stock markets resilient on Friday Silver Weekly Price Forecast Silver markets plunge for the week S&P 500 Weekly Price Forecast stock markets continue to show resiliency View comments || Bitcoin ETFs Are a Terrible Idea, Says Bitcoin Advocate Andreas Antonopoulos: Andreas Antonopoulos Bitcoin ETFs Bitcoin advocate Andreas Antonopoulos offered his opinion on Bitcoin ETFs in a rather foreboding video released on August 14. He first explained the concept of an ETF or exchange-traded fund as a fund that has a custodian or manager that creates a special financial instrument that is similar to a stock. In the case of Bitcoin ETFs the instrument is a fund that holds Bitcoin and sells shares in a bitcoin reserve that represents the price of bitcoin as a stock that can be traded through regular brokerage accounts on the stock market. The custodian holds the actual Bitcoin and the customer buys a share in the funds without having to navigate the often rigorous and complex process of registering for cryptocurrency exchanges, completing KYC, and familiarizing themselves with encrypted keys and wallets. The cryptocurrency space has lauded the inevitable arrival of ETFs as a crucial event that will greatly increase the market cap of cryptocurrency and essentially save cryptocurrency investors and traders from the current bear market, taking cryptocurrency to the next level as a financial market. In his video Antonopoulos outlined in no uncertain terms what he sees as the dangers of Bitcoin ETFs, citing the market manipulation that took over the price action of gold as an example. Im going to burst your bubble. I know a lot of people want to see Bitcoin ETFs because lambos and to the moon and all that. I think its a terrible idea. I still think its going to happen, but I think its a terrible idea. Im actually against Bitcoin ETFs. Apart from the potential of increased market manipulation by major market makers as is seen in the commodities markets, Antonopoulos is concerned over the issue of consensus. Bitcoin holders essentially have the right to vote on certain issues based on which exchanges they choose to trust their coins with, which fork they support, etc. Story continues If there is ever a fork debate, which is very likely to happen again in any cryptocurrency, then the fund that controls that Bitcoin now has a very large voice. Their shareholders dont. They dont get to choose which fork the fund is going to follow in a Bitcoin debate
We already saw that level of influence during the August 1st fork, user activated software forks, Bitcoin cash, the scaling debate
Large custodial exchanges had a very strong voice in the ecosystem. They were able to decide if they were going to support or not on behalf of 10 million customers
an ETF will do that and it will do that on an even bigger scale Centralized fund managers having millions of votes in the Bitcoin ecosystem allowing for manipulation in price action, scaling debates, and forks is the main concern for the Antonopoulous who foresees disagreements over forks between major ETFs leading to splits forming currencies akin to corporate Bitcoin. In a situation where authorities are pressuring the community to make Bitcoin less private and more transparent, it could be the case that an ETF would feel obliged to comply with the regulatory pressure and refuse to adopt privacy measures, creating a separate, corporate Bitcoin market. The prominent Bitcoin advocates views were mirrored by former Wall Street executive Caitlin Long in a CCN interview in which she denounced the involvement of Wall Street financialization in the crypto space due to the bad practices it would inevitably bring. Featured image from Wikimedia. The post Bitcoin ETFs Are a Terrible Idea, Says Bitcoin Advocate Andreas Antonopoulos appeared first on CCN . || Crypto Crime In 2018 By The Numbers: One of cryptocurrency’s biggest selling points up to this point has been its anonymous nature, but that anonymity has given cryptos a bit of a nefarious reputation. While the cryptocurrency market has been subject to a wave of new regulations in 2018, anew reportfrom CipherTrace indicates cryptocurrency-related criminal activity has exploded as well.
Useful Tool For Criminals
Criminals are on track to launder more than $1.5 billion via cryptocurrency trading in 2018, more than five times as much than as in 2017, according to CipherTrace. These numbers include only the laundering of stolen funds and not the total amount of illegal dark market transactions made using cryptocurrencies, which is difficult to estimate, the company said.
In addition to money laundering and illegal purchases, the theft of cryptocurrency itself has also skyrocketed this year. CipherTrace estimates that criminals andhackershave stolen roughly $1.21 billion in cryptocurrency from exchanges so far this year, up from the $713 million it reported last month.
The lack of regulation in the cryptocurrency market has made it a useful tool for criminals, who have flooded into the market to take advantage. Arecent studyby the University of Technology Sydney concluded that almost half of all global bitcoin transactions are associated with some form of criminal activity.
PayPal Of The Dark Web
The researchers said cryptos have essentially become thePayPal Holdings Inc(NASDAQ:PYPL) of the dark web.
“This sort of illegal activity risks stunting the adoption of this technology and limiting the potential benefits to society,” University of Technology Syndey Professor Talis Putnins said of the study.
While CipherTrace said some criminals are using sophisticated money laundering mixing services or cross-currency flip services, most launderers are simply purchasing cryptocurrency with stolen funds, transferring that money directly to a bank account and assuming nobody will file a suspicious activity report.
Uphill Battle For Regulators
For cryptocurrency investors hoping that currencies likebitcoinand Ethereum will become mainstream payment methods in the future, it may be a long, uphill battle before regulators and financial institutions are comfortable enough to deem cryptos safe and transparent enough to give the green light. In the meantime, criminals will continue to exploit the vulnerabilities in the cryptocurrency system and investors will suffer the consequences.
TheBitcoin Investment Trust(OTC:GBTC) is down 53.5 percent so far in 2018.
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Today In Cryptocurrency: Analyst Reiterates K Bitcoin Target, Winklevoss Crypto Exchange Poaches NYSE Exec
The Best And Worst Cryptocurrencies So Far In 2018
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© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ethereum Falls 10.27% In Bearish Trade: Investing.com - Ethereum was trading at $272.08 by 18:32 (22:32 GMT) on the Investing.com Index on Monday, down 10.27% on the day. It was the largest one-day percentage loss since August 13. The move downwards pushed Ethereum's market cap down to $27.94B, or 13.44% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B. Ethereum had traded in a range of $271.51 to $303.74 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a drop in value, as it lost 2.63%. The volume of Ethereum traded in the twenty-four hours to time of writing was $1.38B or 12.55% of the total volume of all cryptocurrencies. It has traded in a range of $250.84 to $320.81 in the past 7 days. At its current price, Ethereum is still down 80.88% from its all-time high of $1,423.20 set on January 13. Elsewhere in cryptocurrency trading Bitcoin was last at $6,299.2 on the Investing.com Index, down 2.97% on the day. Ripple was trading at $0.32558 on the Investing.com Index, a loss of 5.45%. Bitcoin's market cap was last at $109.41B or 52.64% of the total cryptocurrency market cap, while Ripple's market cap totaled $13.01B or 6.26% of the total cryptocurrency market value. Related Articles EOS Falls 10.89% In Bearish Trade Ontology (ONT) Technical Analysis: Support Continues to Arrive After Successful Korean MainNet Launch Dash Retailers Rise in Numbers Despite Weak Market || Ethereum Co-Founder Joseph Lubin: Crypto Market Slump Wont Curtail Growth: joseph lubin Ethereum co-founder Joseph Lubin said that he does not see the recent slump in cryptocurrency prices as a constraint to growth in the market. In a recent interview with Bloomberg, Lubin said the collapse in prices is not a new development as it has always been present in the blockchain ecosystem since 2009 when Bitcoin was invented. He went further to note that in spite of the slump in prices , under scrutiny, the price bubbles will seem like little pimples on a chart because growth has been exponential, as well. People are rushing in because they see the promise of the technology. But then, we build more fundamental infrastructure, we see a correction, and the potential gets even more impressive
I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem. Lubin, who left Ethereum to launch ConsenSys , an organization that helps startups build on the Ethereum network, stated that each bubble has led to a tremendous surge in activity which has seen development activity rise by two orders of magnitude since the jump in prices last year December. For Lubin, bubbles are part of the ecosystem that has positives as well as negatives. Each of the bubbles experienced in the market has brought more attention into our ecosystem, he explained. The bubble has created attention for the industry which has attracted entrepreneurs, developers and investment and the prospect of building fundamental infrastructure and creating more value. The constant volatility in crypto prices, however, was attributed to trader types, but Lubin insists the recent slump in prices wont slow down adoption or development of core infrastructure for the ecosystem. He said: We feel the exponential increase in activity in our ecosystem. It is overwhelming whats going on in terms of our different product projects, in terms of new scalability technologies, new teams and projects, developers that our entering our ecosystem, new large companies that have gotten comfortable with our ecosystem. Story continues Earlier this week, the ethereum price dropped below $300 for the first time since Nov. 2017. ETH ultimately fell as low as $249 before rebounding to a present value of $287. Featured Image from YouTube /Crypto News Clips The post Ethereum Co-Founder Joseph Lubin: Crypto Market Slump Wont Curtail Growth appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
@bitcoin_reddit || BTC in nutshell by trader smirco published August 03, 2018 https://www.tradingview.com/chart/BTCUSD/nqHKKOnk-BTC-in-nutshell …pic.twitter.com/5xevwXBcUS || @btc_current || @btc_current || @btc_0 || @BTC_INFOCHAIN || @India_Bitcoin || @BTC_INFOCHAIN || @whats_a_bitcoin || I'm in the running to win a LEDGER Nano S hardware wallet with @ICE3X
South Africa's Favourite Crypto Currency Exchange for
#ADA #BTC #BCH #DASH #DOGE #ETH #LTC #NEO #XMR #ZEC
#ledger #hardwarewallethttps://wn.nr/sQmfrw
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Trend: no change || Prices: 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-12-04]
BTC Price: 3956.89, BTC RSI: 31.59
Gold Price: 1241.10, Gold RSI: 62.07
Oil Price: 53.25, Oil RSI: 36.24
[Random Sample of News (last 60 days)]
Morgan Stanley: Bitcoin is a New Institutional Investment Class: There is arapidly growing interestin bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space.
As such,bitcoinand altcoins now constitute a new institutional investment class since 2017, according to new research from major US bankMorgan Stanley.
In thereport titled“Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought up insights about observable trends. This new report serves as an update to an earlier report published in December titled “Bitcoin Decrypted: A Brief Teach-in and Implications.”
The findings underscored the researchers’ observation of what the report described as the rapidly morphing thesis of the market, covering evolving perceptions of bitcoin since it was introduced into circulation as “electronic cash” in 2009.
In 2009, bitcoin came into reckoning as a viable alternative to the big banking cartels after it was first issued through open-source software. It attained a cult-like following, and by 2012, it was in the spotlight of mainstream news as the means of transaction in the online black market infamously referred to as theSilk Roadmarketplace. Its growing market capitalization drew the attention of entrepreneurs, tech-oriented individuals across the globe, activists, journalists, and blockchain-based crypto initiatives followed in their droves.
Bitcoin has been able to provide a decentralized payment mechanism which employs the use of a distributed ledger. While it appealed to some as a novel system capable of disrupting existing business models, it also proved to be a veritable tool for facilitating new economic relationships and linkages. As a digital currency, its distributed ledger makes it easier to process retail payment transactions such as e-commerce, person-to-person payments, and cross-border transactions with lesser costs and logistics attached when compared to what is obtained in financial institutions.
While it is still widely regarded as a speculative investment, it is already being used as a store of value and has been touted as a potential means of payment in the next decade. Dr. Zeynep Gurguc from Imperial College London has said that the criteria which need to be fulfilled for it to be fully incorporated into the payment systems include: scalability, usability, regulation, volatility, incentives, and privacy.
The report highlighted developments such as the recording of all transactions on a permanent ledger, the emergence of novel and cheaper technologies than bitcoin, volatility in the market, the volume of hacks, and hard forks as concerns which have affected the bitcoin ecosystem.
In view of this, theprevailing bear marketcoupled with the decline in price predisposes bitcoin and altcoins as a “new institutional investment class,” and this has been the trend in the last year.
The study cited the new crypto services division ofFidelity, investments in crypto firms such asBinance, and regulatory approvals as evidence of the increased participation of financial institutions lending credence to the market thesis.
According to the Morgan Stanley Research, some of the bottlenecks faced by clients who were interested in investing in the cryptocurrency industry include regulatory disparities, the absence of regulated custodial solutions, and the lack of formidable financial institutions operating in the industry.
The report also recorded the gradual rise of fiat-pegged cryptostablecoins, which more or less began in 2017 but hasquickenedthis year. The decline in cryptocurrency prices elicited an increase in the share of BTC trade volumes taken byUSDT. Exchanges were used to trading crypto for crypto with relatively few involved in the trade of crypto for fiat.
The research, however, does not see all stablecoins surviving on the long-term. Those who would survive will most likely have relatively lower transaction costs, very high liquidity, and a clear regulatory structure.
Images from Shutterstock
The postMorgan Stanley: Bitcoin is a New Institutional Investment Classappeared first onCCN. || 3 Fast-Growing Cybersecurity Stocks to Consider: [Editor’s note: This story was originally published in Novemeber.] The future of technology is all about connecting devices to enhance the user experience. That’s why the Internet of Things (IoT) is one of the most exciting growth trends out there. I am sure you have heard all about IoT over the last few years. As much as I love the trend and believe it will grow by multiples in the years ahead, there is one problem — the need for security, and cybersecurity stocks. The rate at which the world is becoming connected is growing faster than we can secure it. Consider that there are already over 20 billion connected devices around the globe. By 2020, there will be at least seven connected devices for every human on earth. That equates to over 50 billion internet-connected devices in the world. This mass connectivity is what makes up the IoT. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There is no question that all of this will make your life easier. But it also opens up a huge security risk. Just one hack into any connected device could spread like wildfire through the network of other devices. The result could range from small inconveniences to serious financial calamities and even physical injuries. With hundreds of billions of new devices hitting the market every day, it is impossible that they will automatically have the required security. That would assume they are all created equal and that consumers will put in the proper protection to make them more difficult to hack. Unfortunately, that simply will not happen. That’s why cybersecurity is a huge need that will become even more critical in the years ahead. 10 Stocks to Buy With The Trade War on Pause There are many companies involved in this trend, but as with any growing theme there are only a few that stand out as current leaders. I want to highlight three cybersecurity stocks today. CyberArk Software (CYBR) Cybersecurity Stocks: CyberArk Software (CYBR) Source: Shutterstock Story continues CyberArk is an Israeli firm that develops and sells software-based security solutions. It is a global leader in the space, with its more than 4,200 clients encompassing 50% of the Fortune 500 and over 30% of the Global 2000. The company has grown rapidly in recent years. Revenue increased from $103 million in 2014 to $262 million in 2017. And that figure is anticipated to hit nearly $400 million by 2019. While the top line has exploded, earnings have picked up as well. CYBR earned $1.16 a share last year and by 2022 it should earn close to $4 a share. The stock has spent most of this year in a strong uptrend. The rally has stalled a bit recently, but with the underlying fundamentals still strong, I expect CYBR to remain a leading cybersecurity play for the foreseeable future. Proofpoint (PFPT) Cybersecurity Stocks: Proofpoint (PFPT) This company, based in the United States, is a software-as-a-service (SaaS) provider of cybersecurity solutions. Its products scan emails, social media accounts, mobile apps, and more and stop 99% of attachment-based attacks. Proofpoint is experiencing strong revenue growth, with the top line jumping from $196 million in 2014 to $515 million last year. That number is expected to increase to $876 million next year. The company turned its first annual profit in 2016 when it earned 37 cents a share. That number is estimated to grow to $1.31 a share this year, and by 2021 analysts are looking for the bottom line to hit $3.45 a share. 7 Buy-Rated Tech Stocks at Steep Discounts The cybersecurity stock’s rally stalled in May after hitting an all-time high above $130, and it has trended lower in recent months. PFPT bounced off a low near $75 in late October, so now is a great time to buy in ahead of its next uptrend. Rapid7 (RPD) Cybersecurity Stocks: Rapid7 (RPD) Source: Shutterstock With a market cap of just $1.5 billion, Rapid7 is the smallest of the three cybersecurity companies we’re talking about today. RPD delivers the visibility, analytics and automation required to monitor and resolve cyber attacks. Its 7,200+ customers are located across 120 countries and include 55% of the Fortune 100. This is yet another company that has seen huge growth in revenue in recent years. Its top line increased from $77 million in 2014 to $201 million last year. And Wall Street expects another 50% increase to $291 million by 2019. While RPD has yet to turn a profit, I believe a breakeven result is achievable in 2019. By 2020, earnings should come in around 35 cents a share. Once a company turns profitable, that is often followed by a few years of big bottom-line growth. With Rapid7 on the cusp of profitability, I suspect it’s only a matter of time before its shares start pricing in that upside. Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today . More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Artificial Intelligence Stocks for an AI Revolution The 10 Best Stocks to Buy for a Santa Claus Rally 7 Micro-Cap ETFs That Punch Above Their Weight Compare Brokers The post 3 Fast-Growing Cybersecurity Stocks to Consider appeared first on InvestorPlace . || Bitcoin News Crypto Currency Daily Roundup November 19: The rundown: Bitcoin and all major currencies were down in the morning; Pundi X to build its global corporate headquarters in Singapore; World’s largest hog producer and pork processor Smithfield Foods plans to explore blockchain technology; SwissOne Capital AG is launching the market’s first tokenized and fully-regulated index fund; COBINHOOD names new CEO; Blockchain Technology Foundation agrees to establish the world’s largest cryptocurrency currency mining center in the global cryptocurrency exchange in Paraguay; Apis Capital Management acquires blockchain intelligence and analytics division from White Company; and more.
Here is what is happening in the cryptocurrency market on Monday.
SEE:New York DFS Approves NYDIG Execution LLC’s Cryptocurrency License Application
SEE:U.S. Air Force to Use Blockchain to Manage Logistics, Supply Chain
In the News
Pundi X, a developer of blockchain-based technology solutions, has decided to build its global corporate headquarters in Singapore. Pundi X, founded in Indonesia’s capital city of Jakarta, says that Pundi X’s Singapore HQ will oversee the rollout of its technology, including the world’s first blockchain-based point of sales device called the XPOS, and the first mobile phone to employ blockchain-based telephony named the XPhone, to markets in Asia, Europe, Latin America, the Middle East and Africa.
Global IT solutions organizationNIIT Technologieshas formed a global partnership with enterprise blockchain software firmR3to develop innovative solutions for banking and financial services, insurance and travel and transportation verticals on R3’s open-source blockchain platform called Corda.
Global gold industry blockchain allianceGoldlinksis teaming up withErd Khul LLC, which operates a gold mine in Mongolia. The partnership will cover cooperation on mining, the creation of gold-backed digital assets, mine acquisitions, and more, according to a press statement.
Smithfield Foods, a global food company that is the world’s largest hog producer and pork processor, has decided to join FoodLogiQ’s Food Industry Blockchain Consortium. Together with a host of other food companies including Tyson Foods, AgBiome Innovations, Subway/Independent Purchasing Cooperative, and Testo, Smithfield is interested in exploring blockchain technology to improve its operations.
SwissOne Capital AG, an asset management company specializing in crypto, says that it will soon launch the market’s first tokenized and fully-regulated index fund. According to a press statement, SwissOne Capital’s fund will be the first to offer the liquid utility of tokenization with the safeguards of regulatory recognition. They will be licensed by FINMA for Swiss distribution.
IDG Capital,Matrix PartnersandNeo Global Capitalhave formed a partnership with Singapore-based international cryptocurrency platformKuCointo bring cryptocurrency trading into the mainstream world via the KuCoin exchange. Together, the companies have invested $20 million in KuCoin through round A funding.
COBINHOOD, the next-generation cryptocurrency service platform and zero-trading-fee exchange, has namedJill Shihas CEO. Shih has more than 18 years of experience in product user experience, project management, and development across mobile internet and software industries, the company said in a news release.
NMBL Technologiesis partnering with Seattle blockchain platform providerDragonchainon an initiative aimed at accelerating innovation in the legal tech market. NMBL will develop cloud-based legal workflow, collaboration, and document management products on Dragonchain’s enterprise-grade blockchain as a service backbone. The companies will also collaborate on the development and deployment of a US-based blockchain, specifically for the legal ecosystem.
Apis Capital Managementhas acquired blockchain intelligence and analytics division firmWhite Co. for an undisclosed amount. White Co. uses blockchain technology to connect the world of global payments and financial transactions, allowing consumers and businesses to pay anyone, anywhere, anytime, in seconds with no fees.
Blockchain Technology Foundationhas signed an agreement with the Paraguayan government to establish the world’s largest cryptocurrency currency mining center and the global cryptocurrency exchange in Ciudad del Este. The contract is designed to provide the five mining centers nearItaipu Hydroelectric Power Plantand included a 15-year stable price on electricity, the installation of high-speed Internet networks, and the establishment of laws for all related businesses for the project, according to a press statement.
Cryptocurrency Prices Today (As of 7:00 AM EST)
Bitcoin (BTC)is down 5.07% over the past 24 hours, trading at $5,297.74.
Ethereum (ETH)is trading at $156.28 in the morning, down 11.16% over a 24-hour period.
Bitcoin Cash (BCH)is trading at $297, down 12.00% over the past 24 hours.
Ripple (XRP)is trading at $0.4854, down 5.53% over a 24-hour period.
Litecoin (LTC)is trading at $38.11, down 9.46% over a 24-hour period.
To view more information, clickhere.
The postBitcoin News Crypto Currency Daily Roundup November 19appeared first onMarket Exclusive. || Bitcoin Payments Down 80% in 4th Quarter of 2018: Chainalysis Data: accept bitcoin coinbase woocommerce bitpay Citing Chainalysis data, Reuters is reporting that Bitcoin retail payments were down 80% in September, and no mention of a rebound was present. Several things are to blame, including scalability of Bitcoin transactions (and the expensive nature of them as a result) and the volatility of the currency itself. In order to have mass adoption and continued growth in the retail payments sector, more retailers will have to accept the currency. In order for that to happen, market conditions must be met and retailers must see it as an added value. BitPay has recently taken a number of measures to make its service more attractive to retailers who want the US dollar value of their sales protected. Beyond the base value of allowing retailers to accept Bitcoin and cash out dollars, BitPay has added three stablecoins to its arsenal, giving retailers more flexibility and increasing the likelihood that some of them will remain in the crypto market with their money, at least tangentially. Lightning Network Yet Unproven There is also the advent of the Lightning Network , which eliminates the problems of high transaction fees, network congestion, and the ceiling on the number of transactions that can be processed. At least in theory. The way payment channels work, a retailer that wanted to be able to process $1 billion in transactions in a given length of time would have to open up a channel that would allow for that. Bitcoin retail transactions generally increase with the ticker price, as the buying power of a single unit goes up dramatically. The continuing relative difficulty of acquisition makes it less attractive to spend coins on a regular basis unless youre seeing an increase in the amount of things you can purchase. At the same time, the regulatory situation is still murky regarding all types of crypto transactions. In some cases a user might be charged capital gains tax if he spends his Bitcoin to acquire goods or services. Chainalysis spoke to 17 major Bitcoin payment processors to determine the 80% overall drop (in value, not necessarily BTC transacted). Public data obtained on Coinpayments.net, which processes transactions for dozens of traditional cryptocurrencies, showed that it had seen a drop of 50% in the first half of the year. Story continues Source: blockchain.info Actual Bitcoin transactions have been steady, although not extreme, with a high in January of more than 350,000 on a single day Featured image from Shutterstock. The post Bitcoin Payments Down 80% in 4th Quarter of 2018: Chainalysis Data appeared first on CCN . || Bitcoin Futures Helped Cryptocurrency Market Achieve ‘More Sustainable Level’: CFTC Chairman: When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs.
Just days later, the yearlongbitcoin pricerally stalled, and the flagship cryptocurrency — followed soon after by the wider market — entered a decline that has continued throughout 2018.
According to researchers at the San Francisco branch of the Federal Reserve, thebitcoin futureslaunchtriggeredthe decline, as it provided institutional investors with their first real opportunity to short the bitcoin price.
Alluding to this research in aninterviewwith Fox Business’s Maria Bartiromo, CFTC Chairman J. Christopher Giancarlo credited the futures launch — and the CFTC’s “do no harm” strategy in allowing those products to begin trading in the face of criticism — with helping pop the bitcoin price bubble and bring the market back to what some would characterize as a more sustainable level.
He said on Friday:
“According to the San Francisco Fed, it was the bitcoin futures emergence that actually sapped the bitcoin bubble that emerged at the end of 2017, and we have seen bitcoin, perhaps in some people’s view, achieve a more sustainable level than it was during the bubble period last year.”
Giancarlo added that, concurrently, the cryptocurrency market has been steadily growing more mature, in large part due to an increase in institutional investors engaging with this asset class. In addition to firms like Intercontinental Exchange (ICE) and TD Ameritradebacking cryptocurrency exchanges, a number of major university endowments including Yale, Harvard, and MIT havereportedlyinvested in cryptocurrency funds.
“We’re seeing more institutional movement into this area, and I think with more institutional movement, we should see more maturization of it,” Giancarlo said, adding that there was still “a long way to go” to improve the still-nascent spot market.
Nevertheless, he concluded that, on the whole, cryptocurrency was on the path to becoming a mature financial instrument.
“Like all things, it takes time to mature, and with the movement of more institutional investors into that space, I think we’ll see that maturization.”
Featured Image from SIFMA/YouTube. Charts fromTradingView.
The postBitcoin Futures Helped Cryptocurrency Market Achieve ‘More Sustainable Level’: CFTC Chairmanappeared first onCCN. || Birthday blues for bitcoin as investors face year-on-year loss: By Tom Wilson LONDON (Reuters) - Bitcoin was heading towards a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. By 1300 GMT, bitcoin was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it on Halloween 2017 facing yearly losses of nearly 3 percent. A year ago, bitcoin closed at $6,443.22 as it tore towards a record high of near $20,000, hit in December. That run, fuelled by frenzied buying by retail investors from South Korea to the United States, pushed bitcoin to calendar-year gains of over 1,300 percent. Ten years ago, Satoshi Nakamoto, bitcoin's still-unidentified founder, released a white paper detailing the need for an online currency that could be used for payments without the involvement of a third party, such as a bank. Traders and market participants said the Halloween milestone was inevitable, given losses of around 70 percent from bitcoin's peak and the continuing but incomplete shift towards investment by mainstream financial firms. "The value mechanisms of crypto and bitcoin today are based more on underlying tech than hype and FOMO (fear of missing out)," said Josh Bramley, head trader at crypto wealth management firm Blockstars. Growing use of blockchain - the distributed ledger technology that underpins bitcoin - is now powering valuations of the digital currency, he said, cautioning that some expectations for widespread use have not yet materialised. Others said improvements to infrastructure such as custody services may allow mainstream investors who are wary of buying bitcoin to take positions. "We see behind closed doors financial and non-financial institutions beavering away to create the infrastructure," said Ben Sebley, head of brokerage at NKB Group, a blockchain advisory and investment firm. Bitcoin has endured year-on-year losses before, according to data from CryptoCompare, most recently in 2015-15. Retail investors still account for a strong proportion of trading, market players said. Investors who bet early on bitcoin and have stuck with it have faced a roller-coaster ride in its first decade. Many told Reuters they are optimistic that they are still onto a winner. (Reporting by Tom Wilson) || $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto: bitcoin transaction fee: $194 million in BTC for 10 cents On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies like Bitcoin and Ethereum is that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. $1 Million Through a Bank Costs $10,000+ Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees in bank transfers. On the platform, users can send small to large payments through bank accounts with substantially lower fees. However, even on a platform like Transferwise, to send over $1 million, it costs over $7,500 in transaction fees. That means, through wire transfers and conventional banking methods, tens of thousands of dollars are required to clear a transaction that is larger than $1 million. Percentage-wise, $7,500 is less than 1 percent of $1 million, and in that sense, a $7,500 fee is cheap. But, on the Bitcoin network, which is supposedly highly inefficient in processing payments, it costs less than $0.1 to clear a $194 million transaction. bitcoin On October 14, publicly acclaimed cryptocurrency critic Nouriel Roubini, an economist and professor at Stern School, claimed that it costs $60 to process a Bitcoin transaction and as such, it costs $63 to purchase a Starbucks latte that costs $3, using Bitcoin. “So the cost per transaction of bitcoin is literally $60. So if I were to buy a $3 latte at Starbucks I would have to pay $63 to get it! So the myth of a ‘Brilliant new technology that reduces the vast fees of legacy financial systems!’ turns out to be a Big Fat Lie!” Nouriel claimed. In response, respected cryptocurrency investor and Blocktower co-founder Ari Paul stated that the transaction fee of Bitcoin, which is less than $0.1, is publicly verifiable on the blockchain. Story continues “BTC fees are less than $0.10, easily verifiable. If you value truth, you’d provide a public correction. If your goal is to mislead people with simply false statements, carry on. There’s nothing to research. Fees are publicly viewable from many sources (googling it works.) I find it better not to provide a specific source because then regardless of source, the source gets attacked,” Paul noted. Crypto Could Crack Offshore Banking Market First As scalability of public blockchain networks improves with the integration of both on-chain and second-layer scaling solutions , cryptocurrencies will be able to handle small payments with higher efficiency. But, in the mid-term, given the ability of the blockchain to process large-scale payments at the same cost of a small transaction, it is highly likely that cryptocurrencies will gain wide acceptance by investors and firms in the offshore banking market, a $30 trillion industry that relies on financial institutions to clear large transactions. Spending $0.1 to $1 for a $5 to $10 transaction could be inefficient and impractical. However, spending the same fee to process multi-million dollar transactions provide cryptocurrencies a clear edge over legacy systems. Images from Shutterstock The post $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto appeared first on CCN . || Report: Crypto Exchanges Are Recording Impressive Revenues: Cryptocurrency exchanges are catching up to their traditional counterparts, a new study suggests.
According to a report released by global professional services companyAccenture, revenue from cryptocurrency exchanges is now matching that of traditional exchanges. Some of the changes discussed in the document, “Capital Markets Vision 2022,” include the rise and growth of cryptocurrencies, and how blockchain technology could potentially help traditional firms unlock value and add new levels of efficiency to their operations.
Traditional exchanges typically generate solid pre-tax margins, but their growth prospects tend to be modest at best, the document explains. Thus, many traditional firms have begun finding ways to bring cryptocurrency trading to their customers as a means of potentially increasing their revenue while offering investors the chance to build more diversified portfolios.
The report says that cryptocurrency exchanges and servicing hold a 64 percent pre-tax margin. The authors say that, in just a few short years, crypto exchanges have “exploded from virtually nowhere” and now represent a substantial amount of revenue, matching that from traditional exchanges with a discrepancy in composition of margin and turnover that differs by a factor of roughly 1,000.
Markus Boehme — co-author of the report and managing director at Accenture Strategy — explains, “Adapting a trillion-dollar industry for the digital age while it’s entering an era of profound disruption is a complex and shapeshifting goal, but it is also an era that provides significant opportunities for those who act fast as value pools are being redistributed. Nimble firms will be able to capture new profit opportunities in a ‘race for relevance’ while also benefiting the industry’s customers.”
Furthermore, blockchain technology is becoming increasingly popular amongst traditional financial players, and the report states that nearly every significant member of the capital markets industry is experimenting with blockchain infrastructure to some degree. The authors say that blockchain’s uses go beyond simply recording transactions and ultimately extend to factors like updating reference data, creating fractional and digital asset vehicles, and redefining syndicates.
In addition, the authors explain that, while artificial intelligence (AI) is likely to affect the industry first, blockchain technology could affect the industry in a more significant and long-term way. They suggest that blockchains have many uses in trading and market infrastructure, and that many of these use cases can already be seen in the exchange sector. Two examples include the Australian and Toronto Stock Exchanges, which are both using blockchain to replace legacy settlement systems. In addition, the Tel Aviv Stock Exchange is now working on putting collateral management on a distributed ledger.
The document states that blockchain technology has the power to significantly reduce costs in the financial industry by reducing redundancy. Many traditional firms depend on functions that are consistently repeated due to what the report calls a “lack of a universal source of truth.” Employing a distributed ledger to record trade executions and settlements could knock out the need for several of the firms’ repeating functions.
We believe that both AI and DLT [distributed ledger technology] have the potential to grow substantially as we head toward 2022 and beyond. Their use cases could extend not only to optimizing and mutualizing current processes, but also to unlocking value in existing data and assets and allowing the industry to target completely new revenue streams.
In all, the report suggests that utilizing DLT could lead to potential savings of nearly $100 billion. However, the timing of this reduction will depend greatly on when DLT becomes the financial industry backbone. The authors say a solid plan for implementing DLT strategies is necessary for allowing clients to capture a larger share of their back-office value chains.
To view the full report, clickhere.
This article originally appeared onBitcoin Magazine. || Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation?: bitcoin etf sec jay clayton crypto Earlier this week, US Securities and Exchange Commission (SEC) Chairman Jay Clayton said at a conference in New York that to approve a Bitcoin exchange-traded fund (ETF), the SEC needs to see a market that is free of manipulation. Clayton stated : “What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation. Those kinds of safeguards don’t exist in many of the markets where digital currencies trade.” The SEC believes most cryptocurrency exchanges in the global market have not implemented safeguards to eliminate the risk of manipulation, making it increasingly unlikely for an ETF based on a cryptocurrency exchange to be approved by the SEC. What Now? In July, the Bitcoin ETF filing of the Winklevoss twin was officially rejected by the SEC. At the time, the commission said that Gemini , a heavily regulated cryptocurrency exchange based in the US, is vulnerable to manipulation and emphasized that cryptocurrency exchanges, in general, are not mature enough to handle an ETF. The SEC’s stance towards cryptocurrency exchanges has been clear to the public since the rejection of the Winklevoss Bitcoin ETF. As such, various organizations including ProShares attempted to circumvent the SEC’s ruling by introducing an ETF on top of a futures market. A futures-based ETF was also rejected by the SEC in August, as the commission found that the futures market is not of significant size to support an ETF. bitcoin etf In February, a Bitcoin ETF filing by VanEck, an investment management firm headquartered in New York with over $47 billion assets under management, is set to have its ETF evaluated by the SEC. The VanEck ETF is different from previous ETF filings because it bases the price of Bitcoin on the over-the-counter (OTC) market through an index. No ETF in the past attempted to use the OTC market to find the base price of Bitcoin . According to Gabor Gurbacs, a digital asset director at VanEck, OTC trading desks tend to be more robust, regulated, and liquid than exchanges, which could meet the requirements set forth by the SEC. “The OTC trading desks are more robust, efficient and liquid, as well as better regulated, than most of the crypto trading platforms. They are an important and often unsung heroes in institutional crypto space,” Gurbacs said. Emphasizing that his statement reflects his personal view, not the stance of VanEck, Gurbacs also added that the comments issued by the SEC can be appropriately addressed by an ETF: “I believe that the comments raised on pricing, surveillance and custody all have appropriate answers. Digital asset market structure is developing rapidly and towards the right direction.” Story continues Will VanEck be Approved? Whether the VanEck Bitcoin ETF will be approved by the SEC or not remains uncertain. But, it represents an innovative attempt to propose to the SEC that the OTC market, which is considered to be at least two to three times larger than the cryptocurrency exchange market, could provide sufficient liquidity to an ETF. Featured Image from Brookings Institution/ YouTube The post Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation? appeared first on CCN . View comments || California's New Airline Just Took Off, but It Faces Stiff Headwinds: It took California Pacific Airlines nearly a decade to get off the ground, but last week, America's newest commercial airline finally took flight. The carrier began scheduled service from McClellan-Palomar Airport (which serves the northern part of San Diego County) to San Jose, California, and Reno, Nevada. Flights to Las Vegas and Phoenix are scheduled to begin on Nov. 15. Yet the new airline didn't exactly have a smooth first day. And that points to a major problem with the company's current business model that could threaten California Pacific Airlines' very survival. Trying to fill a distinct niche Despite the occasional major success story like Southwest Airlines (NYSE: LUV) or JetBlue Airways , most start-up airlines quickly go bust. The airline industry is capital-intensive and ultracompetitive. Furthermore, larger carriers enjoy massive economies of scale. All three factors make it hard for new airlines to break through and become sustainably profitable. California Pacific's strategy is to tap into a captive market in northern San Diego County. Due to its short runway, McClellan-Palomar Airport can't support the larger jets that most airlines prefer to use. As a result, California Pacific Airlines faces no direct competition at its home airport. A California Pacific Airlines E145 jet. California Pacific is currently the only airline operating at its home airport. Image source: California Pacific Airlines. Southwest Airlines offers extensive service at San Diego International Airport, complemented by smaller operations for the other major U.S. airlines. But during rush hour, it can take an hour or more to get to the airport from Carlsbad, Oceanside, and other communities in San Diego's northern suburbs. Parking fees are high, as well. California Pacific Airlines is banking on the convenience factor of McClellan-Palomar Airport in order to appeal to travelers. In fact, its starting fares of $99 to $149 are actually higher than the introductory fares Southwest charges on the same routes from San Diego International Airport. The fleet is a major concern In an unfortunate turn of events, California Pacific Airlines' first scheduled flight last Thursday was delayed by nearly half a day due to a maintenance problem. The morning departure didn't end up leaving for San Jose until after 6 p.m. Indeed, the new airline's reliance on a fleet of Embraer (NYSE: ERJ) E145s that are 15-plus years old could be its Achilles' heel. While these jets should have plenty of life left in them, they are expensive to maintain . Even if they are well cared for, they are likely to be less reliable than the Boeing 737s favored by Southwest. The E145s also burn a lot more fuel per seat, although that's less of a factor on the sub-500-mile routes that California Pacific Airlines is operating. Story continues Another issue is that 50-seat jets like the Embraer E145 feel cramped compared with the mainline jets that service most routes at San Diego International Airport. Business travelers are California Pacific Airlines' main target market. It will be a tough sell to win these customers away from Southwest Airlines with higher fares, less-comfortable planes, and infrequent flights -- despite the advantage of operating from a more convenient airport. And if California Pacific can't offer reliable service, business travelers will quickly lose whatever interest they may have today. Will California Pacific Airlines try to upgrade? In the short run, California Pacific should consider keeping a spare aircraft at its home base in Carlsbad to ensure that future maintenance issues don't lead to massive delays or cancellations. Even so, it will have a hard time turning a profit as long as its business model relies on getting people to pay a premium (relative to what Southwest would charge) for a less comfortable ride. In an earlier version of its business plan, California Pacific Airlines had planned to use the E170, a larger, more comfortable, more reliable, and more fuel-efficient Embraer jet. The E170 is one of several larger aircraft that can feasibly operate from McClellan-Palomar Airport's short runway. The next-generation Embraer E190-E2 and Airbus A220-100 should also fit the bill. For California Pacific Airlines to survive, it needs to think about upgrading to one of these newer models. By doing so, it would be able to reduce its unit costs while improving its reliability and customer comfort -- making it a whole lot easier to sustain higher fares. The main drawback is that any of these planes would be far more expensive than California Pacific's existing E145 fleet, potentially requiring it to raise more capital. (The carrier would also have to get FAA approval and retrain its crews to operate a new aircraft type.) However, without a more competitive fleet, this start-up airline may never reach profitability. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Embraer, JetBlue Airways, and Southwest Airlines and is long January 2019 $10 calls on JetBlue Airways. The Motley Fool recommends Embraer, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy . View comments
[Random Sample of Social Media Buzz (last 60 days)]
Том Ли призывает не паниковать из-за текущего тренда на крипторынке - http://btc-all.com/news/tom-li-prizyvaet-ne-panikovat-iz-za-tekyshego-trenda-na-kriptorynke.html …pic.twitter.com/yztSvRFApQ || 1 BTC = 24000.00100000 BRL em 14/10/2018 ás 20:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || 11-19 07:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000024
HitBTC :0.00000022
LiveCoin:0.00000020
$SPD (JPY)
Yobit :0.15
HitBTC :0.13
LiveCoin:0.12 || I think you’re at your best when you’re doing a skit like breecorp or just messing around like in bitcoin || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 1.48 % || 27-10-2018 11:00
Price in #USD : 0.1805234618 || Price in #EUR : 0.1581927096
New Price in #Bitcoin #BTC : 0.00002787 || #Coin Rank 584 || ﾞ
ノアコイン イーサリアム リップル エイダコイン ビットコイン 仮想通貨 ガクト スピンドル ネム Bitcoin ada btc xrp ripple
>
>
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ウォレット WALLET
ios完成pic.twitter.com/owSsbtGKCj || ツイート数の多かった仮想通貨
1位 $BTC 557 Tweets
2位 $XRP 106 Tweets
3位 $TRX 67 Tweets
4位 $ETH 62 Tweets
5位 $C20 54 Tweets
2018-11-26 08:00 ～ 2018-11-26 08:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || Btc achives its purpose faster || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -4.69 % || 25-10-2018 04:00
Price in #USD : 0.1611232813 || Price in #EUR : 0.1412198835
New Price in #Bitcoin #BTC : 0.00002494 || #Coin Rank 612 || $btc daily. First good bit of Bitcoin news for a while.
SAR has flipped to uptrend. Stoch moving from an oversold position. The H4 is overbought so may offer some resistance / chop to work through. Hourly is looking good if we punch through SAR - will know soon. pic.twitter.com/ao6W0VPKqt
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Trend: down || Prices: 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-05-12]
BTC Price: 29047.75, BTC RSI: 25.15
Gold Price: 1823.80, Gold RSI: 33.41
Oil Price: 106.13, Oil RSI: 52.84
[Random Sample of News (last 60 days)]
US stocks trade mixed as investors watch developments in Ukraine and new sanctions against Russia: A trader on the floor of the New York Stock Exchange. Xinhua News Agency/Getty Images US stock indexes were mixed Monday as investors waited for word on potential new sanctions on Russia. The potential for sanctions against Russia's energy market sent oil prices higher. Russian troops are being accused of killing hundreds of civilians near Kyiv. US stocks were mixed Monday as the first full trading week of April started with Europe weighing new sanctions against Russia for its war against Ukraine, with the potential for new measures sending oil prices marching higher. European governments have suggested putting new sanctions on Russia following reports of war crimes around the Ukrainian capital Kyiv. Russian troops are accused of killing close to 300 civilians during their occupation of the Kyiv suburb of Bucha. Ukraine's President Volodymyr Zelenskyy posted photos of dead bodies to the Telegram Sunday and called Russian troops "butchers." France's President Emmanuel Macron said Monday a new round of sanctions is needed, and the European Union's foreign policy chief Josep Borrell said the bloc "will advance, as a matter of urgency, work on further sanctions" against Russia. "Pressure is ramping up on Brussels to enforce a total ban on Russian energy imports in order to enforce real damage and punishment against the Kremlin for the invasion. Of course, it's easier for some to make such demands than others," said Craig Erlam, senior market analyst at Oanda, in a note Monday. Oil prices climbed Monday, with West Texas Intermediate crude jumping 2.9% to $102.16 per barrel. Brent crude, the international benchmark, gained 2.4% at $106.94. Here's where US indexes stood at 9:30 a.m. on Monday: S&P 500 : 4,547.09, up 0.03% Dow Jones Industrial Average : 34,726.04, down 0.26% (92.23 points) Nasdaq Composite : 14,303.61, up 0.32% "We will likely continue to see resistance from Germany and a select few others as they're simply far more reliant on Russian imports of oil, gas and coal. Forecasts for the impact of an embargo vary but it would almost certainly tip the country into recession," said Erlam. Story continues Around the markets, Twitter shares soared after Elon Musk disclosed he has taken a big stake in the social media company . Gold rose 0.7% to $1,936.30 per ounce. The 10-year yield fell 4 basis points to 2.38%. Bitcoin fell 0.9% to $46,033.98. Read the original article on Business Insider || China Says “Go” For Tech… And 4 Other Surprises This Week: This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. To make sure you don’t miss anyof Tom’s potential 100x picks,subscribe to his mailing list here.
Source: shutterstock.com / Svyatoslav Balan
On Wednesday, the Chinese Communist Party (CCP) made a sudden U-turn on its tech crackdown.
The government will “actively release policies favorable to markets.” News agencyXinhuaquoted Vice-Premier Liu He as saying. In coded language, the “rectification” of large Chinese tech firms will soon be over.
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The news was so surprising that even parts of the Chinese government seemed caught off guard. The day before, regulators were busy writing up record fines forTencent(OTCMKTS:TCEHY) in an anti-money-laundering campaign. It’s likely that those fines and others will now be swept under an oversize rug.
No doubt the CCP’s about-face is an attempt to stem the tide of rising cash outflows. Since 2020, shares ofAlibaba(NYSE:BABA) have lost two-thirds of their value under the weight of the government crackdown. As recently as Tuesday, JPMorgan was calling the sector “uninvestable.”
Now, BABA and rivalsJD.com(NASDAQ:JD) andMeituan(OTCMKTS:MPNGY) look set to recover 50% over the next several months.
But much of the damage has already been done. In 18 months, these tech giants have become quasi-captives to the CCP, much the same as that country’s property developers and banks. And now that the Chinese government has managed to stamp out the remaining free enterprise from its stock market, it shouldn’t expect foreign investors to reignite that flame so quickly.
Source: Catalyst Labs / Shutterstock.com
Nevertheless, good news from the Chinese government is still good news. This week,AlibabaandTencentrose a third each. And as I mentioned earlier, greater gains are likely still on the way.
There were also four other stock market surprises this week.
Last Friday, I noted that Russia’s “C” rating by Fitch implied a 40% probability of default within a year.
Fast forward six days, and the country has already managed a near miss.
In a statement on Thursday, the Russian Finance Ministry said it had sent instructions for a $117 million interest payment from its frozen foreign assets. Sanctioning bodies could have easily forced a technical default. Rival ratings agency S&P would cut its rating further to CC, suggesting a 70% chance of default this year.
Since then, an eleventh-hour intervention by the Treasury Department has allowed the coupon payment to go through. No word yet on how a far larger sum of interest ($2 billion!) will get handled next month.
On Wednesday, oil prices temporarily dropped beneath $100 and into the double digits. Prices of oil-sensitive stocks likeIndonesia Energy(NYSEAMERICAN:INDO) would drop 60% before rebounding upward once more.
But as analysts at Standard Chartered put it, “the key fundamentals are largely unchanged.”
An analysis by the bank found that the short-term drop came from traders closing out short-term positions to open new longer-term ones.
“The irony of the situation is that the dominance among oil traders of the belief that prices could only move higher has led to a position from which market dynamics dictated that in the short term, prices could only go lower.”
With logic like this, it’s no wonder that analyst Eric Fryrecommends a buy-and-don’t-look-at-it strategy, AKA buy & hold.
On Wednesday, the London Metal Exchange (LME) suspended trading again, after a “systems error” allowed trades below its newly imposed price limits.
It’s the second time in two weeks that the LME had to halt and reverse trades. On March 8, the exchange ruffled feathers (and checkbooks) after canceling $3.9 billion worth of nickel trades made during the metal’s short squeeze.
Cliff Asness, the founder of AQR Capital Management, would accuse the Hong Kong-owned exchange of “stealing money from market participants trading in good faith and giving it to Chinese nickel producers and their banks.” At least one market maker has already put its exchange membership under review.
If even hedge funds are getting mad at you… perhaps the world really is coming full circle.
And finally, the controversial creator of BitClout is back with a new enterprise:
An “Opensea for DAOs.”
Naturally, the project would be a Decentralized Autonomous Organization (DAO).
And who could resist naming such an organization (DAO, DAO)? Clearly founder Nader Al-Naji couldn’t.
Skeptics were quick to pan the new “DAO DAO.” “BitClout grifter” Al-Naji has failed multiple times before, notes crypto reporter Timothy Craig. In 2017, Mr. Al-Naji’s team managed to burn through $10 million of investor money before returning the remainder. And in the entrepreneur’s own words, competing services today “make BitClout look like Craigslist.”
Still, hope springs eternal in the blockchain world. And if (DAO, DAO) strikes it rich, you can be sure someone will one day create a DAO to invest in DAO DAOs.
Any naming suggestions for the DAO DAO DAO? I propose “Fred.”
Earnings Reports to Watch
• Monday. Nike(NYSE:NKE),Pinduoduo(NASDAQ:PDD),Greenidge Generation Holdings(NASDAQ:GREE),Volcon(NASDAQ:VLCN)
• Tuesday.Adobe(NASDAQ:ADBE),Carnival(NYSE:CCL),BuzzFeed(NASDAQ:BZFD),Splash Beverage(NYSEAMERICAN:SBEV)
• Wednesday.General Mills(NYSE:GIS),Phunware(NASDAQ:PHUN)
• Thursday.Nio(NYSE:NIO),Darden Restaurants(NYSE:DRI),Joby Aviation(NYSE:JOBY),Bitfarms(NASDAQ:BITF)
• Friday.ToughBuilt Industries(NASDAQ:TBLT)
Notable Crypto Events
• Monday.Fungie DAO launches My Space Pug, a crypto version of Flappy Bird
• Tuesday. OKCoinJapan lists on QTUM
Wednesday. World Blockchain Summit begins in Dubai
When oat milk makerOatly(NASDAQ:OTLY) hit public markets last May, it was hard to contain investor excitement.
Oatly is “reminiscent of the great consumer growth stories we’ve seen IPO in recent decades,” said analyst fund Hedgeye. To them, Oatley was going to be the nextChipotle(NYSE:CMG) orLululemon(NASDAQ:LULU).
Instead, the oat milk firm would stumble like Amplify Snack Brands, the maker of one-hit-wonder SkinnyPop. OTLY shares have dropped 80% since going public; losses have widened to $80 million per quarter.
Oatly’s woes stand in stark contrast to those of Chinese tech giants. Whereas companies like Alibaba and Didi ran afoul of politicans, Oatly has struggled because of changing consumer demand. The broad shift away from plant-based foods has also ensnared firms likeBeyond Meat(NASDAQ:BYND), a company that now trades at a quarter of its valuation from last year.
Chinese authorities are only just realizing that these kinds of corrections are a feature, not a bug. By allowing markets to penalize failing industries and promote successful ones (instead of using government intervention), Western financial markets have remained lightyears ahead of Chinese ones. No American company loses sleep over missing a Shanghai listing.
Investors certainly don’t love drinking a spoiled glass of oat milk. But in the grand scheme of wealth-building, it certainly beats the alternative of companies succeeding — and failing — over political whims.
P.S. Do you want to hear more about cryptocurrencies? Penny stocks? Options? Leave me a note [email protected] connect with me onLinkedInand let me know what you’d like to see.
Thomas Yeung is an expert when it comes to finding fast-paced growth opportunities on Reddit. He recommended Dogecoin before it skyrocketed over 8,000%, Ripple before it flew up more than 480% and Cardano before it soared 460%. Now, in a new report, he’s naming 17 of his favorite Reddit penny stocks.Claim your FREE COPY here!
On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing.
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The postChina Says âGoâ For Tech⦠And 4 Other Surprises This Weekappeared first onInvestorPlace. || Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, LINK, BCH, XMR: • With BTC sinking under the $40K mark, the larger market has been on a downtrend.
• Apart from BTC, ETH, LINK, BCH, and XMR, a few coins could present exciting price trends.
At the time of writing, withbitcoin’sprice below the $40K level, the larger market was primarily painted red. After dropping below the $2 trillion mark on April 8, the total crypto market cap has depreciated by close to 11% and stands at $1.83 trillion at press time.
Thecryptocurrencymarket has been largely unmoved due to BTC’s rangebound movement for the most of last week. Nonetheless, with the larger market in a consolidation, some coins could present attractive buy opportunities in the short term.
Here are the top cryptos to watch in the coming week:
Looking at bitcoin’s current trajectory, analysts have pointed out that the coin is being driven by exogenous factors and intense selling pressure in the perpetual market despite robust fundamentals.
As BTC heads towards a high-risk zone, the top coin’s price dropped by almost 5% over the last week. While a 5% drop wouldn’t sound risky in a market as volatile as the crypto-verse, since BTC dropped below the psychological barrier at $40,000 the same added to the sell-side pressure.
After April 5, bitcoin’s price has made lower lows, and it fell to as low as $38,536 on April 18. Furthermore, bitcoin’s relative strength index saw a dip and was heading towards the oversold zone on a daily chart.
The decline in the 20-day EMA and RSI’s downward slope towards the negative territory indicated a minor advantage to bears at press time. If the price falls below $39,100, selling pressure could rise, and a price drop to the next support near $37,500 before and then towards the lower support at $34,750 could be expected.
Ethereum’sprice oscillated just under the $3000 level as the price appeared to be hung by a thread. At press time, with ETH trading at $2,915.61, noting a 5.14% fall in price on a daily chart and a 2.77% fall on weekly retail interest seemed to fade.
The top altcoin by market cap had undergone an over 20% correction in price over the last two weeks to hit a low of $2,880 recently. While ETH’s price drop and rise in selling pressure were market-driven, a new delay in the protocol’s transition to Proof-of-Stake was further triggered.
Since ETH’s price fell below $2,950, a further downside to the lower support level at $2,570 or $2,160 can play out over the next week.
Nonetheless, with fundamentals looking strong, a buy zone around the $2,570 or $2,160 mark could be seen. In the coming week, if bulls can push prices above $3,500 for Ethereum to resume its previous uptrend, the same would ensure further upward momentum for the coin.
LINK’sprice has been on a larger downtrend since April 5, and the coin has lost close to 25% value since then. While on April 16, the price noted a minor uptick, LINK bulls could not sustain the higher levels.
Strong selling near the $15 mark pulled the price back below the downtrend line as sellers dominated buyers for LINK. Chainlink’s current price downtrend resembles the January 2022 drawdown that brought LINK’s daily RSI to the oversold zone.
While at press time price level of $13.32, daily RSI still maintained above the oversold zone with the price still making lower lows; the indicator could head towards the danger zone if price falls under the $13 level.
At the time of writing, LINK’s price had fallen by 8.12% in the last 24-hours and was down by 4.86% over the last week. A push by bulls above the $15 mark in the near term could ensure gains but if bears take control price could fall back to the $12.3 mark.
Bitcoin Cashbulls defended the 50-day SMA at $330, which was a crucial support level to the coin’s trajectory. However, a fall below the same prepared BCH for further losses around press time.
At the time of writing, BCH traded at $323.45, noting an over 5% fall on the daily. Nonetheless, one positive sign was that the coin was still up by 6.53% on the weekly chart. Towards the end of last week, BCH bulls managed to push the price by almost 13% even though the larger market was still moving in a rangebound trajectory.
However, short-term profit-taking and the larger market’s bearish momentum pulled the coin back below the $330 level.
Nonetheless, if bulls gain control over the coming week, a push to the $345 level could be expected.
XMRhas been exhibiting a decently bullish trajectory despite the larger market’s bearish momentum over the last few weeks. It has often been noted that privacy tokens like Monero seem to rise when the larger market is more mellow.
At press time, XMR traded at $251.78, noting a 5.86% daily gain in price while still presenting 13.25% gains on the weekly. Monero, after hitting the $278 mark on March 8, has largely been on an uptrend.
If XMR’s uptrend continues, bulls could push prices to the $280 level, the next major resistance Monero could face. However, a downward push from bears could pull the coin’s price down to the $233 mark in the near term. For now, with buyers gaining dominance, an uptrend for XMR seems more plausible.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Markets Continue to Defy Gravity || Stop Chasing the Day-to-Day Dynamics of the SPDR S&P 500 ETF: SPDR S&P 500 ETF Trust ( SPY ) stock has been a frustrating figure, both enticing and discouraging investors. While it’s tempting to be optimistic, multiple challenges exist. You want to approach cautiously as circumstances are shaky. man in front of chalkboard with up and down arrow that say buy and sell, respectively Source: Shutterstock If you’re like most investors, you’re probably frustrated with the benchmark exchange-traded fund SPDR S&P 500 ETF Trust (NYSEARCA: SPY ). With all eyes on SPY stock, it provides real-time guidance on how Wall Street is digesting critical news items on both the domestic and international front. Therefore, the fund talking out of both sides of its mouth is a vexing circumstance. The bigger picture of course is that on a year-to-date basis, SPY stock is down nearly 5%. Following a meteoric rise from the doldrums of 2020 – when it appeared to many (including yours truly) that we were headed over a cliff – this pedestrian performance is incredibly disappointing. At the same time, the recent picture has been much more encouraging. Taking away the 1.3% loss on the March 23 session, the bulls have been piling into SPY stock. And even including the midweek blip, the ETF is up nearly 3.4% over the trailing month. InvestorPlace - Stock Market News, Stock Advice & Trading Tips So, which narrative will dominate the trajectory of SPY stock? Both sides have reasons for their arguments, though one angle may be the most reasonable. SPY SPDR S&P 500 ETF Trust $452.69 SPY Stock May be the Best House in the Worst Block I hesitate to mention this point because it’s so hackneyed (and so last decade). Still, its relevance has once again reared its ugly head. SPY stock could very well be the best house in the worst block. Presently, social and economic circumstances seem overwhelming back home. Due to soaring consumer inflation that worsened because of Russia’s decision to invade Ukraine, Americans are getting creamed at the gasoline station. Worse yet, higher fuel charges will lead to downwind pain as anything that needs to be transported will command a premium. 7 Dividend Stocks That Can Withstand Inflation Simultaneously, the expansion of the money supply in response to the unprecedented challenges of the coronavirus pandemic imposes a tax on working people. Unless the Federal Reserve has the political will to address the crisis, turmoil may brew. With the divisive backdrop of American politics, that’s a combustible mix. Still, where else are you going to put your money but mostly in the US of A? Whether you look at economic development in terms of innovation or resource production or even population trends, the U.S. ranks relatively favorably across key metrics. That’s not to say we don’t have problems because we do. But we’re arguably better prepared than most countries to handle shocks to the system, which is why SPY stock might make sense. Story continues Current Economic Conditions May be Unsustainable Although the U.S. has historically been a bastion of stability (at least comparatively), this circumstance doesn’t necessarily mean we’re immune to major destabilizing events. Sure, recent headlines have focused on the immense volatility of the Russian ruble following the nation’s decision to invade its neighbor. But let’s not forget one thing: our dollar isn’t exactly bulletproof. No, the greenback isn’t the ruble (thank goodness for that) but at last check, the ruble has gained back some value. On the other hand, the dollar risks losing more purchasing power unless the Fed again does something about the money supply. According to the Bureau of Labor Statistics, the average hourly earnings of all employees was up 4.2% year-over-year in 2021, whereas this growth rate was 3.3% in 2019. Magnitude wise, we’re talking about a 27% increase in the rate of growth. Now consider the consumer price index for all urban consumers . Year-over-year growth in the CPI was 4.7% in 2021, whereas it was 1.8% in 2019. Comparing the magnitude difference, we’re talking 160%. To me, this is unsustainable. We’re seeing relatively pitiful growth rates in wages but explosive growth rates in the CPI. Eventually, these obstacles will impose themselves in every corner of the U.S. economy, which makes SPY stock very questionable. Be Careful Out There Since I’m not a money manager, you’re going to have to do your own due diligence regarding your decision on SPY stock. The best that I can do is point you to publicly available information and provide you with insights you might not have considered before. So, don’t think I’m being negative on SPY stock. If anything, my personal incentive is for SPY stock to rise mercurially higher from here. A robust equities sector – combined with a healthy cryptocurrency market – is good for my brand. However, I’m concerned about the sustainability of our so-called economic recovery. Therefore, I’m going to point you to the data that I’m seeing in the hope that you can make an informed decision. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Get in Now on Tiny $3 ‘Forever Battery’ Stock It doesn’t matter if you have $500 in savings or $5 million. Do this now. Stock Prodigy Who Found NIO at $2… Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Stop Chasing the Day-to-Day Dynamics of the SPDR S&P 500 ETF appeared first on InvestorPlace . View comments || Retail Interest in Bitcoin Is Dwindling, Google Data Suggests: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin’s (BTC) price surge to as much as $69,000 last year and a range above $40,000 this year has failed to attract continual interest from retail crowds, search data from Google Trends suggests.
Worldwide searches for bitcoin have reached mid-2020 levels as of April 22, 2022, with readings of 17 for the week of April 17-April 23. This is a relative drop from May 2021’s readings of 76.
Google Trends allows users to compare the relative volume of searches. This, however, does not mean the total number of searches for that term is decreasing, but just means its popularity is decreasing compared to other searches. A line trending downward means that a search term's popularity relative to other popular terms is decreasing.
Data suggests most searches for bitcoin originate from Nigeria, followed by El Salvador and Austria. These search queries are relative to other terms or keywords searched in those regions, meaning Nigerians searched for bitcoin more than they searched for other keywords, but this wasn’t necessarily more than overall search figures from, say, the U.S.
But despite the apparent waning interest in bitcoin, some analysts say retail crowds are gravitating towards newer sectors and markets within the crypto space, such as tokens of decentralized finance (DeFi) or layer 1 blockchains such as Solana and Avalanche.
“Bitcoin has risen in price several times, with its investment threshold becoming higher for new users," explained Johnny Lyu, CEO of Kucoin, in a Telegram message. "But many new cryptocurrencies known as altcoins have appeared since, which, according to users, can be more attractive as investments."
Lyu added the quick presence and popularity of meme coins have gradually shifted users' attention from bitcoin in comparison to the past few years.
Egor Volotkovich, the executive director of cross-chain solutions EVODeFi, seconded that sentiment. Decentralized finance, non-fungible tokens, “and blockchain gaming are areas of interest that are now enticing investors across the board,” he said.
“Retail investors are more interested in exploring these other innovations the blockchain ecosystem now offers, which explains the declining search trends irrespective of the price differentials between now and the past two years,” Volotkovich added.
Meanwhile, some like Vasja Zupan, president of crypto exchange Matrix, argue the search data does not represent interest from institutional investors.
“Google Trends do not reflect institutional and professional interest. And I believe that current prices reflect those groups' interest and entering the market more than pure retail,” he said in an email to CoinDesk. “With bitcoin maturing we will see a less retail impact, with exception of times of peak bull cycles and more influence from institutional demand,” Zupan added.
Firms like business analytics makerMicroStrategy(MSTR) and electric carmakerTesla(TSLA) have purchased billions of dollars worth of bitcoin in the past two years, unlike previous cycles in 2018 and earlier.
Bitcoin was trading at just over $40,500 at writing time and is down 2.5% in the past 24 hours,datafrom CoinGecko show. || Gores Guggenheim Looks Like the Next Big EV Market Arrival: The stock performance ofGores Guggenheim(NASDAQ:GGPI) has been unimpressive since late November 2021. GGPI stock price has tumbled almost 33% from a high of $15.33 in November 2021 to the current levels of $10.29. The special purpose acquisition company (SPAC) announced a merger with up-and-coming electric vehicle (EV) manufacturerPolestar.
Among the various reasons impacting the stock price, most prominent is the shortage of semi-conductor chips.
To be fair, supply chain issues have been hurting the entire EV industry. So, why is GGPI stock different?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The reason is expected delays in the scheduled launch of its EV, Polestar 2 in the US markets. The company is betting on the launch of its new, more economical version of EV model, Polestar 2, at a starting price of $45,900. This makes it much more attainable than its Polestar 1 predecessor at $155,000.
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While there is hype surrounding the release, Polestar 2 does not many differentiating factors compared to its rivals. That means rollout and production must be flawless and fast to compete in this emerging market. Hence, execution risk remains with respect to it being able to meet its contractual demand.
Other players, such as Tesla (NASDAQ:TSLA) have been handling the ongoing supply chain challenge by paying up front fees to ensure ready supply or substituting it with alternative chips to meet demand.
On a positive note, the company has secured a five year deal to supply 65,000 electric vehicles to the auto-rental company,Hertz(NASDAQ:HTZ).
The rental company aims tobegin offering the vehiclesto customers “in Spring 2022 in Europe and late 2022 in North America and Australia.” This gives top-line visibility of at least $600 million every year. Apart from Polestar, only Tesla garnered a similar deal with Hertz.
Another similar deal announced was withEnterpriseto expand its presence in the car rental marketplace.
These contracts arguably bode well for the company as Hertz is one of the largest auto rental companies in the United States. The rental company is dedicated to serving the North American markets with the largest EV rental fleets. Polestar is well positioned to benefit from any further future opportunities arising from this partnership.
In 2021, the company achieved itsglobal sales target of 29,000 vehicles, reflecting a growth of 185% year-on-year. Polestar expanded geographically to operate in 19 markets in 2021 (up from 10 markets earlier).
For 2022, management aims to expand the company’s footprints in European markets and enter in the Middle East. By 2023, Polestar aims to operate 30 global markets.
Further, they plan on releasing three new EVs to the market in the next three years. These include the Polestar 3 (set to launch in 2022), a premium autonomous electric SUV, Polestar 4 (in 2023), a smaller electric performance SUV coupe, and Polestar 5 in 2024.
Gores Guggenheim is expected to complete its SPAC merger with Polestar by the first half of 2022. Polestar’s relationship with parent companiesVolvo(OTCMKTS:VLVLY) andGeely(OTCMKTS:GELYF) is also an added a advantage, especially when it comes to abating execution risk.
Polestar has the benefit of being an already established EV manufacturer with proven products on the market, as opposed to other SPAC ventures. Given its backing and partnerships, GGPI stock is a buy.
On the date of publication, Sakshi Agarwalla did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postGores Guggenheim Looks Like the Next Big EV Market Arrivalappeared first onInvestorPlace. || FOREX-Global growth worries send dollar to new 20-yr high: (Adds Yellen comments, Powell confirmation updates prices)
By Chuck Mikolajczak
NEW YORK, May 12 (Reuters) - The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the currency's safe-haven appeal.
Data from the Labor Department showed weekly initial jobless claims rose to their highest level in three months, although the labor market remains a strength of the U.S. economy. On the inflation front, the producer price index showed a sharp deceleration in April to a 0.5% rise from the 1.6% surge the prior month, thanks in part to a sharp drop in energy products.
In the 12 months through April, the PPI increased 11.0% after accelerating 11.5% in March and above an estimated increase of 10.7%.
"PPI slightly mixed to slightly less than expected today but overall there is still a lot to worry about... if S&P sells off again that is going to be broadly supportive of dollars," said Erik Bregar Director, FX & Precious Metals Risk Management at Silver Gold Bull Inc in Toronto.
The dollar index rose 0.798% at 104.840 after touching 104.92, its highest level since Dec. 12, 2002. The euro down 1.38% to $1.0366 after falling to 1.0352, its lowest since Jan. 3, 2017.
After the Fed raised its benchmark overnight interest rate by 50 basis points last week, the largest hike in 22 years, investors have been attempting to assess how aggressive the central bank policy path will be. Expectations are completely priced in for another hike of at least 50 basis points at the central bank's June meeting, according to CME's FedWatch Tool https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html?redirect=/trading/interest-rates/fed-funds.html.
Irish Central Bank Governor Gabriel Makhlouf joined a chorus of European Central Bank policymakers calling for the Governing Council to act to tackle inflation, though not necessarily at the same pace as the Fed.
Risk assets have been under pressure for most of the year, with the S&P 500 on the verge of confirming it is in a bear market, commonly viewed as a decline of 20% from its record high.
Investors have gravitated towards safe-haven assets such as the dollar as worries have mounted about the Fed's ability to tamp down inflation without causing a recession, as well as repercussions from the war in Ukraine and rising COVID-19 cases in China sapping demand. Concern about a lingering stagflation environment of slow growth and high prices have also dented the appetite for risk.
U.S. Treasury Secretary Janet Yellen told a U.S. House of Representatives Financial Services Committee hearing the Fed can bring down inflation without causing a recession because of a strong U.S. job market and household balance sheets, low debt costs and a strong banking sector. Fed Chair Jerome Powell was also confirmed by the U.S. Senate for a second term.
"(The Fed) have a big, big credibility problem, they have always had one but it’s worse now. The inflation genie is out of the bottle and nothing else matters now," said Bregar.
Another safe-haven, the Japanese yen, strengthened 1.47% versus the greenback at 128.08 per dollar, while Sterling was last trading at $1.2173, down 0.63% on the day after a flurry of soft economic data in Britain.
In cryptocurrencies, Bitcoin last fell 0.54% to $28,250.01 after dropping to $25,390.26, its lowest level since December 2020.
Ethereum last fell 6.48% to $1,903.73.
(Reporting by Chuck Mikolajczak; Editing by Andrew Heavens) || DeFi Ecosystem Caash Launches V2 Token with Passive Bitcoin Dividends: LOS ANGELES, CA / ACCESSWIRE / March 29, 2022 /Caashis a decentralized app ecosystem pushing self-crypto custody forward.
Crypto should be fast, fun, and easy-to-use. That's why Caash builtCaash Me, which helps people recognize they're sending you funds, andCaash Swap, an interface for trust-less asset conversions. By holding CASH token, users enjoy passive income from trading volume distributed in the form of Bitcoin every 1-6 hours automatically. These dividends are funded by a 7% tax on transactions.
For context, Safemoon rewards holders in their native token whereasCaashpays in Bitcoin, the world's leading cryptocurrency. Therefore, sell pressure from holders cashing out rewards is relieved and users are directly incentivized to continue holding for more passive income.
With a strong dividend-paying mechanism in place, the core team is focused on ramping up volume. This is done through influencer activations, advertising across social media, and partnering with rising decentralized finance protocols to grow the community and display the value in holding CASH token long term. CASH token investors not only enjoy passive rewards but may also participate inDAO governance.
AsCaash MeandCaash Swapare live, the foundation laid by the core team is primed for growth. Since crypto remains a foreign topic to the general public, Caash is on a mission to provide humanized and user-friendly solutions that ensure the mass adoption of decentralized finance.
Join Caash on Telegram
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Discover more info about Caash
Caash Contact:[email protected]
Media Contact Name: Christian Reed
Media Contact Email:[email protected]
555 W 5th Street, #211, Los Angeles, 90013, CA, United States of America
SOURCE:Coinzy Inc.
View source version on accesswire.com:https://www.accesswire.com/694870/DeFi-Ecosystem-Caash-Launches-V2-Token-with-Passive-Bitcoin-Dividends || AMC’s Strong Cash Flow in Q1 Could Lead to a Higher Price Target for This Year: People are back to seeing movies. As a result, AMC Entertainment (NYSE: AMC ) is returning to profitability. Moreover, after peaking again last month, AMC stock is now down to a point where it is worth buying. AMC’s earnings for the fourth quarter were its strongest quarterly results in two full years. It did have a net loss of $134 million, but this included non-cash charges and adjustments. After adjusting for these one-time expenses, the net loss was just $57.2 million. But more importantly, AMC said its net cash provided by operating activities in Q4 was positive $46.5 million. In addition, its free cash flow (FCF) was also positive at $8 million for the quarter . This means that the company has for all intents and purposes stopped burning through cash. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Consumer Stocks to Buy as the Weather Warms Up In fact, the company is confident enough in its cash flow that it started buying theater locations. On April 12, AMC said it had acquired seven movie locations in Connecticut, upstate New York, and Annapolis, Maryland. This will bring it 66 new movie screens and it may actually acquire more from the same owners. No purchase price was announced but this will likely show up in the second quarter earnings report. The key point here is that nothing in AMC’s debt covenants is preventing the company from growing its screens. That again implies that it is clearly producing free cash flow. Where This Leaves Investors in AMC Stock After peaking at $29.44 on March 29, AMC stock has tumbled 44% to $16.52 as of April 22. This puts it squarely back in buy territory. For one, analysts now estimate that revenue this year will rise by 81% to $4.58 billion and by 15.5% to $5.29 billion next year. Given that AMC has a market capitalization of $8.48 billion, this means its price-to-sales metric is just 1.6 times 2023 forecast sales. But more importantly, if we assume FCF margins reach just 5% by 2023, it could be producing $265 million in free cash flow by the end of next year. Therefore, using a 3% FCF yield metric, AMC could be worth $8.817 billion (i.e., $265m/0.03), or 4% higher. Story continues Moreover, assuming a 2.5% FCF yield, AMC stock could be worth $10.6 billion, or 25% more. That puts its target value at $20.65. This is still well below its former peak price and shows that there is good upside for AMC stock. On the date of publication, Mark Hake did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post AMC’s Strong Cash Flow in Q1 Could Lead to a Higher Price Target for This Year appeared first on InvestorPlace . || NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET; Shareholders to Receive ACOIN Tokens as New Shareholder Loyalty Program Kicks Off: $NSAV - NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
$NSAV - NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET; Shareholders to Receive ACOIN Tokens as New Shareholder Loyalty Program Kicks Off
$NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
$NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
$NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
London, England, April 18, 2022 (GLOBE NEWSWIRE) -- Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that its stake holding, Metaverse Network LLC. (MNC)https://metaversenetwork.llc/has acquired the revolutionary WEB 3.0 Crypto Wallet, AWALLET. In 2021, investments into Web3 startups topped $23.7 billion, according to startup market intelligence firm Pitchbook.
$NSAV - AWALLET(https://youtu.be/UUBz_6eshxw)
https://www.washingtonpost.com/business/will-web3-ever-go-mainstream/2022/03/26/77f13472-acd2-11ec-8a8e-9c6e9fc7a0de_story.html
NSAV further announced a new Shareholder Loyalty Program, “Zenith”, which provides rewards and incentives for its loyal shareholders. Additional details on NSAV Zenith will be announced in the coming days.
The Company will Kick Off the new NSAV Zenith Shareholder Loyalty Program by rewarding all NSAV shareholders with ACOIN Tokens. ACOIN is the Native Token of AWALLET. In order to qualify for the ACOIN Reward Tokens, a person must;
• Be a shareholder of NSAV.
• Sign up for the Zenith Program (Details to be announced).
• Download Awallet for iOS onhttps://testflight.apple.com/join/xEO5RAhwor for Andriod onhttps://link.awallet.digital/
Additional details on the ACOIN Token reward distribution will be announced in the coming days.
AWALLET is a Web 3.0 crypto wallet and as it takes years to improvise a multi-blockchain DApp wallet, there are limited competitors in multi-blockchain DApp wallet in the market.
https://www.nasdaq.com/articles/the-race-is-on-for-the-digital-wallet-that-will-define-web3
ACOIN, a crypto published in Ethereum Side Chain, the “ACHAIN”. ACOIN is the only DEX wallet coin of “AWALLET Next Level”. ACOIN, unlike other crypto, does not represent a single particular project. With most crypto, if the project fails, the coin’s value plummets and ultimately fails.
The Awallet WEB3 Wallet platform has the capability to allow blockchain users to manage more than 100 different cryptocurrencies from their mobile device securely and efficiently. MNC believes Awallet will give today's blockchain generation of users access to DeFi by including unique unlocking features that make it easier and more secure than ever to use. MNC suggests that high fees on the Ethereum blockchain and fragmented liquidity across different blockchains is a negative roadmap to a lot of potential DeFi users, where the very loyal people or users that could gain most from DeFi are simply priced out of the blockchain opportunity. With AWallet existing infrastructure, it offers cross-chain compatibility across the Bitcoin and Ethereum blockchains, with expansion to faster, cheaper Layer 2 networks in the pipeline. This interoperability allows users to swap DeFi tokens across blockchains with unparalleled ease of effort, thus offering unique access to a wider pool of tokens, technologies and use cases within a single wallet.
W. Y. Cheung, CEO of MNC stated, “MNC believes this transaction of AWallet will give a new generation of users' highway access to DeFi on your mobile phone. MNC and NSAV have an ambitious roadmap to develop the Awallet functionality, enabling the ability to send and receive NFTs, as well as expanding compatibility with the ACHAIN blockchain. By expanding the product, we aim to give more choice, lower fees and greater simplicity for user globally.
Dato' Sri Desmond Lim, Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated, “NSAV is always looking for ways to make digital currencies more decentralized and accessible, I believe AWallet's management team is a world-first in making that a mainstream reality. We want to give crypto users access, flexibility and control over their digital assets without worrying if they are safe, high gas fees or the need to spread their tokens across different apps and platforms."
About MNC:
MNC is a centralized App that transforms diversified users to decentralized universe DApps. It is a “playground” that supports both creators and users for access, allowing to create a link between the present universe and Metaverse to work together in harmony. As Blockchain environments are dominating the landscape in the next era to come, MNC believes token ecology is essential to access the new era community and to operate in the decentralized economy.
About NSAV:
NSAV's vision is the establishment of a fully integrated technology company, which provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, financial services, advisory services and information technology.
For further information please contact NSAV [email protected]
The NSAV Twitter account can be accessed athttps://twitter.com/nsavtech
The NSAV corporate website can be accessed athttp://nsavholdinginc.com
The NSAV Centralized Cryptocurrency Exchange (CEX) website can be accessed athttps://ex.nsavexchange.com/main
The NSAV CEX Twitter account can be accessed athttps://twitter.com/nsavcex
The NSAVDEX 1 Exchange website can be accessed athttps://nsavdex.org/#/home
The NSAVDEX 2 Exchange website can be accessed athttps://nsavdex.io/
The NSAV NFT Marketplace website can be accessed athttps://nsavnft.com/
The NSAV Premium OTC Crypto Trading Desk website can be accessed athttps://nsavholdinginc.com/otc-desk/
The NSAV Hong Kong OTC Crypto Trading Desk website can be accessed athttps://hkotc.co/
The NSAVDEX Exchange Telegram account can be accessed athttps://t.me/NSAVDEXorg
Silverbear Capital Inc.https://www.sbcfinancialgroup.com.hk/, a leading, global investment banking firm, will be advising NSAV on strategic matters related to this transaction.
Silverbear Capital Inc. (SBC) has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of Partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice.https://www.sbcfinancialgroup.com.hk/meet-our-team/.
Disclaimer: Silverbear Capital Inc. does not constitute investment advice, or an offer or solicitation to sell, or a solicitation to buy, or any other investment product (nor shall any such shares or product be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
ContactNet Savings Link, [email protected]
Attachments
• $NSAV - NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
• $NSAV - NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET; Shareholders to Receive ACOIN Tokens as New Shareholder Loyalty Program Kicks Off
• $NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
• $NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
• $NSAV Announces Acquisition of Web3 Decentralized Crypto Wallet, the AWALLET
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 29283.10, 30101.27, 31305.11, 29862.92, 30425.86, 28720.27, 30314.33, 29200.74, 29432.23, 30323.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-01-26]
BTC Price: 917.59, BTC RSI: 53.95
Gold Price: 1189.50, Gold RSI: 50.97
Oil Price: 53.78, Oil RSI: 58.02
[Random Sample of News (last 60 days)]
Is Warren Buffett Wrong About Bitcoin?: - By Nicholas Kitonyi
The future of the cryptocurrency industry is still clouded with doubt sinceWarren Buffett(Trades,Portfolio) has been one of the biggest critics of the market. Bitcoin is, by far, the leading unit in the cryptocurrency market and based on Buffett's comments over time, it is fair to say the legendary investor does not value it at all, let alone imagine a bright future ahead.
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In 2014, just after bitcoin hit an all-time high, Buffett warned investors to stay away from it, saying it was nothing more than a mirage. In response to a question regarding cryptocurrency by Dan Gilbert, the Quicken Loans founder, he said:
"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."
When asked about bitcoin's future on CNBC's Squawk Box, Buffett said, "Stay away from it. It's a mirage, basically."
True to his word, bitcoin lost more than 80% of its value within the following year (falling from more than $1,000 a coin in December 2013 to about $200 in January 2015). After a 12-month hiatus in 2015 however, bitcoin has since recovered to rally close to the $1,000 level.
As demonstrated in the chart above, bitcoin's price appears to have picked up momentum over the last 12 months in a trend that took it to above $1,000 at the start of the year. Unlike the previous rally that took the price to an all-time high, this time around the trend has been more stable, with significant trackbacks and rebounds.
In 2013, the price of bitcoin spiked from a trading price of under $250 per unit to more than $1,000 within a couple of months as traders bought bullishly in a frenzy.
Now, based on the current Bitcoin price and its fluctuations over the last three years, it is safe to say the cryptocurrency has stabilized. As such, it looks as though bitcoin can be billed to have succeeded thus far. This is backed by the fact that several other companies, including BitGold and OneCoin, have launched their own types of cryptocurrencies.
This also shows people are putting trust in the infrastructure used by cryptocurrency companies to generate and manage the exchange of such currencies.
Blockchain, the infrastructure that supports bitcoin and several other applications, looks set to continue growing given the success of bitcoin thus far. Therefore, major technology companies likeInternational Business Machines(IBM) andMicrosoft Corp.(MSFT)are looking to capitalizeon the current bullish outlook of this technology and, as per recent reports, some are making huge investments in the market.
Blockchain is a new software technology that allows businesses to work together with trust and transparency. The network allows all parties involved access to an encrypted digital record of transactions that cannot be changed.
The technology can be applied in a variety of industries, especially in the financial sector. As of 2016, the blockchain market was valued at $210 million, but is projected to grow to more than $2 billion within the next five years.
Some of the biggest concerns facing bitcoin are issues regarding the security of transactions and its ability to deal with cases of money laundering. If more industries like the banking sector continue to use the same technology used by bitcoin however, this might work out to be a vote of approval for using bitcoin as a currency.
Nonetheless, this still does not answer Buffett's question on bitcoin. His keynote view was the fact that bitcoin is nothing more than a means of transmitting money, which means it is hard for it to gain intrinsic value over time.
However, when you assess Bitcoin as a currency, then we do know that all currencies have a certain value allocated to them. Paper currencies rely on the economic performance of a given country to gain or lose value. On the other hand, bitcoin is not tied to any individual country, which again raises the question of where the value creation comes from.
It is simple. The U.S. dollar does not strengthen against other currencies because of the strength of the U.S. economy, but rather because of the stability investors believe it possesses. As such, bitcoin traders have been betting on the cryptocurrency market believing it can provide the most stable currency in the future. That is why bitcoin has been rallying over the last 12 months.
Conclusion
In summary, Buffett might be right in the end about bitcoin's valuation being unreal. Given the current advances in the payments market and the growing use of internet banking across the world however, it is clear the cryptocurrency market remains to be a potential disruptor with bitcoin at the center of it all.
Disclosure: I have no position in any stock mentioned in this article.
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• IBM 15-Year Financial Data
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• Peter Lynch Chart of IBM || Bitcoin exchange operator pleads guilty in U.S. case tied to JPMorgan hack: By Nate Raymond
NEW YORK (Reuters) - A Florida man pleaded guilty on Monday to charges that he conspired to operate an illegal bitcoin exchange, which prosecutors said was owned by an Israeli who oversaw a massive scheme to hack companies, including JPMorgan Chase & Co(JPM.N).
Anthony Murgio, 33, entered his plea in federal court in Manhattan to three counts, including conspiracy to operate an unlicensed money transmitting business and conspiracy to commit bank fraud, a month before he was to face trial.
Under a plea agreement, Murgio agreed not to appeal any prison sentence of about 12-1/2 years in prison or less. U.S. District Judge Alison Nathan scheduled his sentencing for June 16.
The Tampa, Florida-resident is one of nine people to face charges following an investigation connected to a data breach that JPMorgan disclosed in 2014 involving records for more than 83 million accounts.
Prosecutors said Murgio operated Coin.mx, which without a license exchanged millions of dollars into bitcoin, including for victims of ransomware, a computer virus that seeks payment, often in the virtual currency, to unlock data it restricts.
Prosecutors said Coin.mx was operated from 2013 to 2015 through several fronts, including one called "Collectables Club," to trick financial institutions into believing it was a members-only group interested in collectables like stamps.
Coin.mx was owned by Israeli citizen Gery Shalon, according to prosecutors, who say he and Maryland-born Joshua Samuel Aaron orchestrated cyber attacks on companies. An attack on JPMorgan resulted in the information of more than 100 million people being stolen.
Prosecutors said the men carried out the cybercrimes to further other schemes with another Israeli, Ziv Orenstein, including pumping up stock prices with sham promotional emails.
Murgio, who was not accused of engaging in the hacking scheme, was tied not only to Shalon but also to Aaron.
Both men attended Florida State University, and in 2008 they formed a business together. On his website, Murgio called Aaron "my friend" and said he "showed me the ropes to online marketing."
Aaron was deported from Russia in December and taken into U.S. custody, while Shalon and Orenstein were extradited from Israel in June. All three have pleaded not guilty.
Five other individuals have been charged in connection with Coin.mx, including Murgio's father. Two individuals linked to it are scheduled to face trial on Feb. 6.
The case is U.S. v. Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-769.
(Reporting by Nate Raymond in New York; Editing by Dan Grebler) || 2 big banks are backing a startup doing for global trade what Google did for advertising: (Tradeshift founder and CEO Christian Lanng.Tradeshift)
LONDON — Santander announced a few weeks ago that it is making an undisclosed investment in Tradeshift, a Danish fintech company.
The Spanish bank joins HSBC, American Express, and CreditEase, China's biggest online lender, in backing the six-year-old company. What do they all see in it?
"What we do is a fairly new thing," founder and CEO Christian Lanng told Business Insider in an interview. "We provide essentially a network to connect companies that do business together."
Tradeshift's platform is a little like Salesforce but for managing global trade networks. Lanng explains: "We work with some of the largest companies in the world like DHL and the NHS. We help them connect their global supply chain.
"In the case of DHL, it’s hundreds of thousands of suppliers around the world who are connected. Once they’re connected they can then do business with them and that means all of the invoicing, purchasing, risk assessment of suppliers, collaboration."
Lanng adds: "Any new business process you want to roll out is essentially just an app sitting on top of the platform. Say I would love to do corporate social responsibility management or track carbon in my supply chain, it’s just an app you activate and deploy. It’s a whole new approach to managing your business and business processes."
The cloud-based platform works with over 800,000 companies across 190 countries and counts 75 Fortune 500 businesses as customers.
What we can do here is make financing much more relevant to you and we can make sure that the lender that is the best fit for you gets in front of you.
As well as simply looking like a shrewd investment for the likes of HSBC and Santander, Tradeshift offers banks the opportunity to pitch for business.
Lanng says: "In the old days, it made sense for the bank to have a branch next to the marketplace because it’s a physical location. In 2016, it makes sense for the branch to have branches where the trade is, which is now virtual. So on our platform."
He adds: "What Google did was make advertising much more relevant for you. What we can do here is make financing much more relevant to you and we can make sure that the lender that is the best fit for you gets in front of you."
Google targets ads based on what you are searching for and have searched for in the past, giving it a good idea of the type of things you might like.
Tradeshift similarly gets an overview of how businesses are working and interacting, meaning it can offer up financing when it is most needed and the right type of financing.
Lanng says: "When the supplier receives that big purchase order from lets say DHL, that’s a really good time to go to them and say would you like some really cheap financing for the next 6 months to finance your fulfillment of that purchase order."
Tradershift does not provide any financing itself, however. Lanng says: "Our approach has been to take a marketplace approach. We say, 'look, we will let anybody provide services on top of our platform, we will take a small fee for providing data, and we will obviously help place the funding with firms who have the need.'"
Deutsche Bank recently made the bold call thatthe world has reached "peak globalisation,"predicting a decline in global trade as nations become more inward looking. Bad news for Tradeshift? Lanng is skeptical.
"It’s very naive or very early on to call peak global trade," he says. "I think global trade patterns will change but it won’t peak," he said.
"I think you will start to see a lot of nations just starting to tap into global trade now. You’re seeing a whole ascendant South East Asia. You’re seeing a whole new phenomenon which I think is extremely interesting and that is Chinese consumers buying more from Western suppliers. We’re working on a huge project right now around connecting Western suppliers into the Chinese market, a reverse of the flow you saw before.
"If you’re looking at a 3 to 5-year perspective maybe [it’s declining]," he says. "If you’re looking at 30, 40, 50-year perspective, not at all."
Still, Donald Trump has also vowed to bring jobs back to America from China and Brexit may well herald a decline in international trade, which is already wobbling. Surely this will at least mean some short-term pain for Tradeshift?
Again, Lanng takes a contrarian view. "Our goal is lowering the friction and if there are more barriers internationally then actually we can provide an even more valuable service because we can help navigate those," he says.
It’s very naive or very early on to call peak global trade.
"One theme we’ve been talking about for the last 3 years is: be very careful because your supply chain and your business is set up for a market that predicts stability," Lanng says.
"The way you source your goods, the way you run your supply chain, the way you roll out your IT systems are all built on the idea that things are going to remain the same.
"The problem that you have is when there’s change in the market like Brexit, Trump, TTP being torn up, these companies now have a very high cost of change.
"Now there’s a premium on agility in supply chains and lowering your cost of change and being flexible. This is what we’re selling to customers. If you’re buying SAP you’re buying something that is extremely robust but extremely brittle in some other ways. But if you’re buying Tradeshift you’re buying something that’s extremely flexible because it’s set up as a network, it’s easy to reconfigure, you can update some of our processes on the fly."
Investors are siding with Lanng. Tradeshift wasvalued at over $500 million in its latest funding round earlier this year, according to the Wall Street Journal.
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• The price of bitcoin is at a 2016 high || Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level.
Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijingannouncedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues.The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area.
Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it wastightening capital controls even further. While the rules were aimed atoutbound investments by centrally-controlled state firms, it is still notable thatbitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed howChina dominates the global bitcoin market, accounting for nearly 100% of the trading.
(Investing.com)
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• Bitcoin is charging higher || Bitcoin is becoming the new gold: Bitcoin, the digital asset that many skeptics still dismiss as a scam, was the best-performing currency of 2016. It began the year just above $400 and rose more than 80% to close the year near $1,000. In the same time, the Brazilian real rose 25%, the Russian ruble rose 21%, and gold rose just 9%. [UPDATE, Mar. 2, 2017: And now the price of one bitcoin has matched the price of one troy ounce of gold for the first time.] The digital coin continued its surge in the first few days of 2017, clearing $1,000 and then, on Jan. 4, clearing its all-time peak price of $1,137, hit in November 2013. Bitcoins market cap reached an all-time high of $18.4 billion. Jan. 3 marked exactly eight years since the first bitcoin block, the genesis block, was mined. On Jan. 5, following a stunning surge, bitcoin sank back down to the mid $900s, a reminder of its volatility. (As a user on the Reddit bitcoin forum wrote, With bitcoin, you kind of have to get used to these types of situations.) Discounting that mini-crash for a moment, here are some more staggering numbers from the recent peak: Bitcoin is up 50% in the past month, 165% in the past 12 months, and 743% since the start of 2013. If you had bought one bitcoin just two years ago, at $280, and let it sit, you would have made almost $900 now. So: Why did bitcoin soar at the end of 2016, and, looking forward, can it keep flying in 2017? Bitcoin price from Jan. 4 2016 to Jan. 4 2017 (via Coindesk) When the bitcoin price rises, people like to point to a few different reasons: China (a falling yuan, leading to bitcoin buying); tightened capital controls in foreign countries; uncertainty in mainstream global markets; or, lately, bitcoin scarcity. Theres healthy debate over which was the biggest factor in 2016. And of course, another argument is that the election of Donald Trump helped, and is continuing to help. China, capital controls, and Trump uncertainty The yuan fell 6% against the US dollar in the past year, hitting its lowest point since 2008. Chinas foreign exchange reserves are expected to keep shrinking in 2017. Its clear that as a result, many Chinese investors have turned to bitcoin: trading activity of bitcoin in the yuan is up more than 60% in the past 30 days, according to bitcoinity charts . More than 90% of all bitcoin activity globally, in fact, is coming from China. Story continues Meanwhile, the Peoples Bank of China cracked down with stricter capital controls in 2016, as have Venezuela (where the bolivar is plummeting ) and India (where there were fears last month of a run on the banks ). The prevailing wisdom is that investors seek safe haven in bitcoin when their own governments crack down or simply when there is general uncertainty, because it is uncorrelated to the global marketits success is not tied to mainstream equities. (Bitcoin saw a rise in activity in Greece during its bank shutdown in 2015 and in Europe after the Brexit vote last year. ) And bitcoin is up 40% since the US election, leading many to cite the uncertainty of the incoming Trump administration as a boon to bitcoin. Bitcoin does thrive during times of uncertainty, but not only at those timesit can also thrive when the market is good. And while there is definite uncertainty about Trumps policies, Wall Street isnt acting very uncertain: US markets have flourished since the election. The Dow Jones Industrial Average is rushing toward 20,000 points. Bitcoin can fly along with it, and has. Bitcoin transaction volume in the past 30 days (via Blockchain.info) Bitcoin mining reward halved In July, the reward that bitcoin miners receive for recording bitcoin transactions on the bitcoin blockchain was halved for the second time in bitcoins history. In a nutshell: all bitcoin transactions are recorded on the bitcoin blockchain, a decentralized, permissionless, tamper-proof ledger ; miners record the transactions in bundles called blocks and receive a small reward (in bitcoin, of course) for mining. This process also creates new bitcoins. Miners used to earn 25 bitcoins per block mined, but since July, they only get 12.5, and that brought the annual creation of new bitcoins down from 9% to about 4%. Because there are fewer new bitcoins being created, its possible that speculative investment has heated up in response. On the other hand, the bitcoin price didnt move much in the few days after the halving, so its hard to think supply is a major factor in the current ride. Simple longevity Nick Tomaino, who spent three years in business development at leading bitcoin wallet company Coinbase and now works at venture firm Runa Capital, thinks bitcoins ride in 2016 is a lot simpler than all that. He points to Lindys Law, which suggests that the total life expectancy of a fledgling technology is lengthened for every year that it continues to survive. Translation: the longer bitcoin is around, the more likely it is to stay, and the more investors take it seriously. The rest is noise, Tomaino says of the other popular explanations for the price hike. We just had the 8-year anniversary of Bitcoin, and in my opinion its stronger than ever. Bitcoin vs Gold Bitcoin believers like to talk about the increasing acceptance of bitcoin for payment (you can now pay in bitcoin at places like Overstock.com and Expedia) but it has been greatly exaggerated. The average person still has no real incentive to pay for something in bitcoin. Instead, as Tomaino writes in a blog post , The primary use case for bitcoin remains the store of value/speculative asset use case. That sounds a lot like the traditional appeal of gold: a store of value, with some scarcity to it. Bitcoin has long been called a gold for the digital age (New York Times reporter Nathaniel Popper titled his bitcoin book Digital Gold ), and while many people like to dismiss the idea, bitcoin is beginning to deserve the comparison. At its price peak on Wednesday, bitcoin came within $30 of the average spot price of gold . The gold vs. bitcoin battle is going to be epic Barry Silbert (@barrysilbert) July 1, 2015 More and more investors (and not just those on some kind of perceived fringe) are seeing the appeal of bitcoin as a speculative investmenteven if they dont understand it or the blockchain technology that underlies it. For some, it may even be more appealing than gold, thanks to the ability to send it instantly and with very low fee. And the longer it survives, despite volatility, occasional hacks of bitcoin exchanges , and continued hype about blockchains for banking , the more likely it is to keep rising. Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Expect more blockchain hype in 2017 Heres where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever || Bitcoin jumps above $1,000 for first time in three years: By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Though the digital currency has historically been highly volatile - a tenfold increase in its value in two months in late 2013 took it to above $1,100, before a hack on the Tokyo-based Mt. Gox exchange saw it plunge to under $400 in the following weeks - it has in the past two years been more stable. Its biggest daily moves in 2016 were around 10 percent, still very volatile compared with fiat currencies, but markedly lower than the trading of 2013, which saw daily price swings of as much as 40 percent. Bitcoin may have been boosted in the past year by increased demand in China on the back of a 7 percent annual fall in the value of the yuan in 2016, the Chinese currency's weakest showing in over 20 years. Data shows most bitcoin trading is done in China. Bitcoin is used to move money across the globe quickly and anonymously and does not fall under the purview of any authority, making it attractive to those wanting to get around capital controls, such as China's. It is also may appeal to those worried about a lack of supply of cash, such as in India, where Prime Minister Narendra Modi removed high-denomination bank notes from circulation in November. "The growing war on cash, and capital controls, is making bitcoin look like a viable, if high risk, alternative," said Paul Gordon, a board member of the UK Digital Currency Association and co-founder of Quantave, a firm seeking to make it easier for institutional investors to access digital currency exchanges. Though bitcoin is still some way off the all-time high of $1,163 that it reached on the Bitstamp exchange in late 2013, there are now more bitcoins in circulation - 12.5 are added to the system every 10 minutes. Its total worth is at a record-high above $16 billion, putting its value at around the same as that of an average FTSE 100 company. (Reporting by Jemima Kelly; Editing by Peter Graff) || Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly
SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering".
Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks."
On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800.
On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges.
Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand.
"Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.
"This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said.
According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.
"The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added.
"FRUITFUL MEETING"
Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.
"We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone.
"I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said.
A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.
Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.
(Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin is going bananas: (Photographers take pictures in front of a mock bitcoin ATM during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoin is going bananas.
The cryptocurrency was 10.1% higher at $1,127.48 per coin just after noon in New York on Wednesday, bringing its 2017 gain to 17.8%.
On its first trading day of the new year, bitcoin crossed above the $1,000 mark for the first time since 2013.
Bitcoin is up 95% since the beginning of September, and it gained 123% in 2016, making it thetop performing currencyfor the second year in a row.
Bitcoin's gains have been buoyed by renewed interest from China, where money is rushing out of the country as its currency, the yuan, continues to weaken. China'sforeign-exchange reserves shrankby about 8% in 2016 to $3.05 trillion as of November. The outflows have pushed the yuan to its weakest levels against the dollar since 2008.
According to a recent Business Insider Intelligence briefing, citing data fromCryptocompare: "In the first 24 hours of the new year, over 5 million bitcoins were bought in Chinese yuan, equating to $3.8 billion. In contrast, just 53,000 bitcoins were bought in US dollars." And while not all of that translates into people actually buying and holding, it shows the tremendous appetite for bitcoin in China.
The situation is unlikely to improve anytime soon unless China takes action to stop the bleeding amid the US Federal Reserve ratcheting up its 2017 interest-rate hike expectations to three from two. If those rate hikes happen, an even weaker yuan is most likely in the cards, creating an even more beneficial scenario for bitcoin.
(Markets Insider)
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• China is behind the latest bitcoin craze || 7 ETF Areas to Hog the Limelight in 2017: As 2016 comes to a close, Brexit, Donald Trump’s win as the U.S. president and the OPEC output cut deal are clearly the highlights of the year. However, there are plenty of other events that haven’t been able to leave a mark but could prove to be game-changers next year.
In view of this, we intend to highlight a few areas (and their impact on the ETF world) that are likely to draw investors’ attention in 2017.
Oil
The global investing world is expected to be busy analyzing the progress of the OPEC output cut deal since the start of 2017. On November 30, OPEC decided to slash production by about 1.2 million barrels a day from January for six months. Plus, on December 10, OPEC also cut their first deal with non-OPEC since 2001 to reduce output next year.
The pact will likely result in “an aggregate supply cut of 1.7 million barrels a day.” Some analysts like Goldman now believe that oil can scale higher to about $60 early next year from the current $50 plus level.
However, there are people who expect the deal to be not as effective as it seems now. Even if OPEC manages to be true to the deal, U.S. shale oil production will likely gain traction, bringing back oversupply into the market and weighing on oil prices.
All these should keep oil ETFs likeUnited States OilUSO, Brent crude ETFUnited States Brent OilBNO and energy ETFs likeEnergy Select Sector SPDR ETFXLE on investors radar (read: How Effective is the OPEC Deal for an Oil ETF Rally?)
Trump vs Fed
Trump has raised hopes of fiscal reflation and taken stocks to a new height. If he keeps all his promises after taking presidential office and inflationary expectations continue to surge, the Fed might be able to implement the three forecasted rate hikes in 2017 (read: Sole Fed Hike of 2016 Put These ETFs in Focus).
And if the Fed opts for faster rate hikes next year, bond ETFs likeiShares 20+ Year Treasury BondTLT and dividend ETFs likeSPDR S&P Dividend ETFSDY may face pressure. Meanwhile,ProShares High Yield—Interest Rate Hedged ETFHYHG or inverse bond ETFs likeBarclays Inverse US Treasury Aggregate ETNTAPRare poised to benefit (read: Hedged & Inverse Bond ETFs to the Rescue if Rates Rise).
Global Inflation
Inflationary outlook is finally shoring up in developed economies, albeit slowly. Prolonged easy money policies by global central banks, the OPEC move and the Trump effect made it happen. Expectations of a spurt in global inflation are now at the highest level in over 12 years. Global TIPS ETF –PIMCO Global Advantage Inflation-Linked Bond Active ETF ILB– will thus be on the watch list of investors (read: Will 2017 Be a Year of Global Reflation & TIPS ETFs?).
Commodity
Now that’s tricky! If the greenback retains its strength, commodity investing should take a backseat as these are priced in the U.S. dollar. However, several industrial metals should do well on better demand-supply dynamics. This is especially possible given the recovery in the global manufacturing activities including the all-important China, which consumes a major portion of the global industrial metals. So, ETFs likeiPath Pure Beta Aluminum ETNFOIL,iPath Pure Beta Copper ETNCUPM andiPath Bloomberg Tin SubTR ETNJJT will likely grab the spotlight.
Cyber Security
Cyber security breaches are on the rise of late. This has compelled companies to invest billions of dollars annually to counter such attacks. Most recently, the hack on Yahoo which revealed data from over 1 billion accounts once again stressed on the need for cybersecurity and has putFirst Trust NASDAQ Cybersecurity ETFCIBR andPureFunds ISE Cyber Security ETFHACK in focus.
India
India’s pro-growth political changes in 2014 had shaped it into a hot investing zone. Most economic episodes also went in favor of Asia’s third-largest economy, including a drastic fall in inflation arising from the oil price crash and an improvement in current account deficit. Moreover, due to cooling inflation, the Indian central bank (RBI) resorted to rate cuts several times in the last one and a half years.
However, most recently, in order to put a check on tax evasion and counterfeit notes, high-denomination bank notes were withdrawn in India. This resulted in cash crunch and growth forecast cuts by some analysts. Fitch rating reduced India’s GDP forecast to 6.9% from the prior estimate of 7.4% for the current financial year.
But then, Moody's indicated that Indian companies will likely witness “the strongest profit growth over 18 months.” Now it would be interesting to see if India ETFs likeWisdomTree India Earnings ETFEPI can survive the threats from demonetization in 2017 (read: What Lies Ahead for India ETFs?).
Bitcoin
Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other classes. Bitcoin’s value has beaten the $800 mark for the first time since February 2014.
India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportISHARS-20+YTB (TLT): ETF Research ReportsUS-OIL FUND LP (USO): ETF Research ReportsPURFDS-ISE CYBR (HACK): ETF Research ReportsUS BRENT OIL FD (BNO): ETF Research ReportsSPDR-EGY SELS (XLE): ETF Research ReportsPIMCO-GA ILBETF (ILB): ETF Research ReportsIPATH-PB ALUMNM (FOIL): ETF Research ReportsSPDR-SP DIV ETF (SDY): ETF Research ReportsIPATH-BB TIN (JJT): ETF Research ReportsFT-NDQ CYBERSEC (CIBR): ETF Research ReportsBARCLY-INV USTC (TAPR): ETF Research ReportsWISDMTR-IN EARN (EPI): ETF Research ReportsIPATH-PB COPPER (CUPM): ETF Research ReportsPRO-HI YLD IRH (HYHG): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || 5 Trends That Venture Capitalists Will Have Their Eye On In 2017: With every new year comes a tide of new and exciting technologies looking to carve out their own niche in the fabric of society. Whether these innovations, and the companies behind them, actually succeed depends on a lot of factors. One of the main driving forces behind innovation is finding capital to grow the business behind the technology. With that in mind, here are five of the hottest trends in tech that smart venture capitalists will be keeping an eye out for in 2017. Augmented and virtual reality While 2016 saw the rapid introduction and growth of AR and VR devices and apps, expect 2017 to have even more offerings as companies refine and expand their implementation of the technology. The application of the technology has so far been monopolized by the videogame and entertainment sectors. However, savvy investors are eagerly anticipating the expansion of virtual and augmented reality other fields. When this happens, the way consumers interact with this technology will change as new companies and peripherals begin to compete for a growing market. Take Cimagine , a crowdfunded startup that combines augmented reality with e-commerce. Investors should be on the lookout for peripheral companies making use of this technology. Advertising tech An ongoing puzzle that marketing firms and digital content providers continue to struggle with is how to get their advertisements in front of the right eyeballs at the right time and through the right medium. Enter ad tech, which aims to solve that question in the shifting sands of digital media and consumer habits. And while the current digital ad market is currently dominated by the likes of Facebook Inc (NASDAQ: FB ) and Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ), startups like Ubimo and Shopial are trying to make it easier for others to get in on the action. Investors who can find a firm with an innovative framework to tackle the extremely complex problem of effectively monetizing digital advertising will have a stake in field that will only see growing demand in the future. Story continues Cybersecurity and Defense Given the current political and corporate climate surrounding unauthorized access to sensitive digital information like credit card data or personal records, expect 2017 to be a big year for companies developing new ways to safeguard against cyber attackers. Investors should be on the lookout for innovations that aim to simplify data networkslike CyberX in order to more easily detect and halt malware infiltration and hacking attempts before they breach a companys system. It could also pay to be aware of advances in software in development to counteract the hazard of losing important data to ransomware. The pace of cybersecurity R&D and innovation is faster than at any time in history and the advancements are considerable, said cybersecurity advisor Ron Moritz, noting that venture capital investment in cybersecurity has increased from $1 billion in 2011 to over $4 billion in 2016. Artificial Intelligence Nothing quite screams future tech like Artificial intelligence. But as a the prospect of thinking machines has evolved from sci-fi to fact, the scope of the technology within the real world has also changed drastically. As a result, artificial intelligence can be viewed as more of a catchall term to indicate how well a computer can adapt to, and function, in a variety of tasks conventionally performed by humans. Whats interesting about AI is how broadly applicable it is across industries. Technology companies like Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) and Amazon.com (NASDAQ: AMZN ), use AI, but so does Zebra (a medical company) and BillGuard (a fintech company) to the technology behind self-driving cars. Decentralized Banking Databases As more of the worlds banking activity occurs over the Internet, and cryptocurrency earns greater prominence, ensuring the record and security of those digital transactions has become a global economic concern. Because of this, companies like the Bitcoin banking company Blockchain and equity marketplace EquityX have surged as leaders in secure and intuitive online banking. The technology behind these companies that manage and secure ledgers of online transactions is still being refined. The demand for advancements in the database process will only grow as investors and individuals continue to traffic into digital banking. To get a full breakdown of startups in these fields, check out OurCrowd. See more from Benzinga Avoid The Student Loan Crisis Facing Retirees Akorn Cracks Open A Buy Rating With Vetr As Price Rises, Vetr Bumps Philip Morris Down To A Buy © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
#GeoCoin #GEO $0.067036 (-6.61%) 0.00008470 BTC (-7.53%) || Eric et Lydie http://ift.tt/2hIQAYf #Bitcoin || MMMBTC || Links for 2016-12-17 [http://del.icio.us ]: - Buy Bitcoin Columbia — Bitcoins ATM - Bitcoin Network… https://goo.gl/fb/bpZQiP || Win bitcoin. Daily drawing. Details: What is the Outlook for Gold Prices in 2017? http://www.btcstory.com/c/931c/153ad2 || 1 #BTC (#Bitcoin) quotes:
$903.18/$903.53 #Bitstamp
$894.00/$896.80 #BTCe
⇢$-9.53/$-6.38
$902.68/$912.02 #Coinbase
⇢$-0.85/$8.84 || Get 6.6% daily!.. #BTC Rocks
http://ift.tt/2hikpxz || Earn bitcoin in different ways. FREE membership. #bitcoin #btc #cryptocurency http://bit.ly/freesignupfreebtc …
50pic.twitter.com/0KIvGwPunZ || $886.07 at 11:45 UTC [24h Range: $880.00 - $910.00 Volume: 9709 BTC] || veo más el btc como una pasarela entre divisas. Puedes comprar btc con cualquier moneda y comprar cualquier moneda con btc.
|
Trend: up || Prices: 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-09-07]
BTC Price: 46811.13, BTC RSI: 47.85
Gold Price: 1795.90, Gold RSI: 49.18
Oil Price: 68.35, Oil RSI: 49.34
[Random Sample of News (last 60 days)]
UPDATE 2-Bitcoin price rises past $50,000 then retreats: (Updates prices, adds analyst comment)
LONDON/CHICAGO, Aug 23 (Reuters) - Bitcoin's price surged past $50,000 on Monday for the first time since May, but the rebound from a months-long slump later ran out of steam.
The world's largest cryptocurrency was last down 0.2% at $49,201. It had risen as high as $50,562 as investors bet that the prospect of more U.S. stimulus spending would lead to further gains, and more mainstream financial services firms made moves in the nascent asset class.
Bitcoin has climbed 82% since hitting a yearly low of $27,700 in January.
The price retreat was predominately driven by profit taking, according to Edward Moya, senior market analyst at OANDA in New York, who also pointed to a report that some bitcoin mining from China might abruptly go offline on Tuesday.
Meanwhile, the price of rival cryptocurrency ether was last up 1.97% at $3,305. The virtual coin has risen 91% since slumping to below $1,740 last month.
The cryptocurrency recovery comes as some more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc said on Monday it would allow customers in Britain to buy, sell and hold bitcoin and other cryptocurrencies starting this week.
Moya said that fears of capital gains taxation has led some traders to hold cryptocurrency as a long-term investment, removing some volatility from the market.
"New investors are the key to this latest bitcoin rally and all signs show they are comfortable with high risk," he said in an email, adding that bitcoin "could see a fast appreciation here and might not hesitate making a run for $60,000 if appetite for risky assets remain intact."
Others also believe the upswing could have further to go if more retail investors return to the market.
"The last time bitcoin was at $50,000, the Google trends (tracking website showing bitcoin searches) was much higher than what it is now," Marcus Sotiriou, a sales trader at the UK based digital asset broker GlobalBlock, said in a note.
"This suggests that retail euphoria hasn't entered the market yet and bitcoin has a long way to go in this market cycle." (Reporting by Anna Irrera in London and Karen Pierog in Chicago; Editing by David Holmes, Alison Williams and Jonathan Oatis) || Experts Think Gold Could Shine Again In the Second Half: A variety of factors is impacting the gold price as the second half of the year begins, and some of these factors will pull harder than others at various times. The current story for gold is being driven by interest rates and inflation, although interest rates are currently upstaginginflation.
Source: Shutterstock
In a recent report, the World Gold Council noted that the gold price fell 6.6% in the first half of the year following a pullback in late June that more than offset the gains during the rest of the second quarter. The council also said thegold pricewas primarily driven by higher interest rates during the first half, especially during the first quarter and in late June.
Upbeat investor sentiment amid the global recovery and other supporting factors also helped drive thegold price. The World Gold Council explained that concerns about higher inflation offset some of the drag brought by interest rates, and the government fiscal and monetary response caused some investors to worry about currency risks and capital preservation. Consumer demand also recovered during the first quarter, although the second quarter brought new lockdowns and second waves of Covid-19.
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The World Gold Council warned that rising interest rates could continue to cause headwinds for the gold price, although it expectscentral banks to be cautiousin how fast they taper back asset purchase programs or raise interest rates.
• 7 Value Stocks to Buy Ahead of Possible Interest Rate Hikes
The council also noted that due to the ultra-low interest-rate environment, investors had added more risk to their portfolios in search of returns, which could increase the need to hold gold and similar assets for diversification and downside protection.
Moving into the second half of the year, inflation is going to be a major factor, but it depends on whether it ends up being transitory or secular.TrovioCEO Jon Deane believes it will probably be secular rather than transitory, although inflation won’t be the only factor driving the gold price.
“Many economists will argue that the supply bottlenecks will ease, allowing prices to collapse — something that we have already seen in lumber prices in 2021 — and thus, the spikes in inflation are transitory and not a trend,” Deane said in an interview via email. “However, I think we need to look at the broader, global picture. What is the impact of stimulus on asset prices and individual wealth? Do the astronomical rises in wealth levels — caused by asset appreciation — naturally create more consumer demand? This, coupled with the amount of debt and the associated ability of governments to raise rates into these debt levels, continue to create a toxic environment and potentially lead to secular inflation.”
He added that if the Federal Reserve hasgotten it wrong and inflation ends up taking holdrather than being transitory, it will likely be a boon for gold. Deane pointed out that the yellow metal has historically performed well during periods of inflation. He believes a bigger question will be whether it is still considered a strong store of value when comparing its performance to that of historical periods.
“Gold has been used as a defensive inflation hedge for years, and if the CPI continues to rise, I think it would be natural for the market to seek safety in assets such as gold,” Deane said. “I believe the risk is to the upside from here. However, with the U.S. coming out of lockdown and a strengthening USD as the economy reignites, I wouldn’t be surprised to see gold outperform in non-USD currencies for the time being.”
Deane set the next resistance levels at $1,900 and $2,000 due to the historical resistance at $1,900 and the psychological barrier at $2,000. He sees solid support at around $1,770 and believes it will land around there if there is a dip. Deane believes another record gold price is coming this year.
“We will almost certainly climb back above $2,000, and a break upwards of $2,200 seems very probable, as gold is so uniquely positioned,” he said. “Still, with the COVID-19delta variantcreating some uncertainty around the reopening of the economy in tandem with upward price momentum, if it doesn’t happen this year, it will happen in the next.”
Deane predicts that gold will be well above $2,000 by the end of this year and even higher by the end of next year. However, he admits there is a great deal of economic uncertainty, so it’s difficult to say for sure where the gold price will be at yearend. He does expect a retest of $1,900 or even $2,000 in the coming months.
Another factor for the gold price in the second half of the year is bitcoin. The two asset classes have been facing off for the position of inflation hedge. Some think Bitcoin is the new gold, but Deane believes bitcoin’s volatility will hold it back from becoming a true safe-haven asset like gold. Meanwhile, the gold price keeps rising amid stock market downturns, which isn’t necessarily true of gold.
He added that continued lackluster performance fromcryptocurrenciesencourages investors toward less volatile assets that show continued growth, like gold. However, Deane still expects bitcoin to act as a headwind for the yellow metal, either by competing directly as a store of value or as an additional asset to be held in inflationary environments.
“I think investors are considering a number of alternative asset classes in the current environment,” he said. “In the wake of unprecedented stimulus, a number of hard assets have appreciated at extraordinary rates. I think digital assets will continue to gain traction with investors, both for their utility as well as price performance. As adoption continues, I think it is natural for demand to shift. However, gold will continue to be a staple of central banks and institutional investors as part of their portfolio composition as a time-honored defensive asset. I don’t believe Bitcoin solves this function just yet.”
On the date of publication, the author did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Michelle Jones is editor-in-chief forValueWalk.comand has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her [email protected].
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The postExperts Think Gold Could Shine Again In the Second Halfappeared first onInvestorPlace. || US Stablecoin Regulation Could Lead to Geopolitical Competition: Cryptocurrencies were created to become an independent financial system to counter the monopoly of nation-states. Trends such as decentralized finance (DeFi) have emerged as robust new offshoots to an industry that, until only two years ago, mainly offered only trading, investing and transacting. There are now a range of utilities around payments, digitally native financial services and financial inclusion that are moving from the abstract to very real in the crypto space. With the current fiat system of currency, underpinned by the Federal Reserve and the United States dollar, cryptocurrencies have started to separate state and money.
Tanvi Ratna, a CoinDesk columnist, is the founder and CEO ofPolicy 4.0, a research and advisory body working on new policy approaches for digital assets.
However, recent regulatory developments could push stablecoins closer to the existing fiat system, unleashing a competition among countries for control over a lifeblood of the crypto industry.
Related:Crypto Long & Short: What’s Going On With Tether?
The current market cap of stablecoins has surpassed$108 billionas of July, representing ~7% of thetotal cryptocurrency market cap. Stablecoin providers are going beyond the utility of cryptocurrency trading. Their main benefits – namely, faster transaction speed, borderless payments, generally lower fees and eventually programmable money – already enable a multitude of other use cases today: remittances, micropayments, commercial payments, bank deposits and withdrawals, payroll, escrow, store of value, settlement, lending, wealth management, foreign exchange trading and powering decentralized applications. Being central to the development of DeFi, reserve-backed stablecoins such astetherandUSDCcurrently dominate in most decentralized exchange (DEX) trading pairs and lending markets. Besides DEXs, lending platforms and other DeFi applications rely on stablecoins likedaiand USDC to mitigate volatility in crypto markets and attract more investors.
The significance that stablecoins hold in the crypto economy cannot be underscored enough. If some stablecoin investments begin to lose their financial stability or value, that could cause considerable damage to the greater cryptocurrency market. We don’t know if stablecoins would be able to liquidate enough investments rapidly to meet the unfavorable demand if a big group of stablecoin holders suddenly wanted to sell their tokens. A sudden lack of faith in stablecoins and issuers could cause the cryptocurrency market to experience a catastrophic liquidity shock.
Regulatory activity around stablecoins has intensified. In 2020, the Financial Action Task Force (FATF)saidstablecoins share the same potential money laundering and terrorist financing risks as other cryptocurrencies and called for revisedAML/CFTstandards. Later in 2020, theSTABLE Actwas introduced in the U.S. Congress, requiring stablecoin issuers and institutions to become licensed members of the Federal Reserve system and follow the appropriate banking regulations. ThePresident’s Working Group on Financial Markets(PWG) also met this month to discuss stablecoins – including their recent rapid growth, potential uses as a form of payment, and potential risks to end-users, the financial system, and U.S. national security, culminating with Treasury secretary Janet Yellen urging regulators to “act quickly” on regulating stablecoins.
The policy measures being considered for such regulation will bring stablecoins firmly under the monetary control of the Federal Reserve. Earlier this month, the Federal Reserveco-authoreda paper with Yale University proposing two major ways to regulate stablecoins. The first was to convert them into the equivalent of public money by either issuing them via FDIC-insured U.S. banks or backing them 1:1 with U.S. Treasury bonds. This is a similar system of oversight as with U.S. bank deposits. The other alternative suggested in the paper was to introduce an American central bank digital currency and taxing stablecoins, so called “private money” out of existence. This could essentially make a government-issued CBDC the de facto stablecoin of the cryptocurrency world.
Related:Market Wrap: Bitcoin Hits Two-Month High After Late Day Surge
Both these measures constitute a de facto “dollarization” of the stablecoins, especially the non-algorithmic coins such as tether and USDC, which dominate the space. Although stablecoins have always been measured in dollars, pegging reserves and compliances to the Federal Reserve will effectively tie down these global instruments to U.S. monetary oversight. This could reduce the cryptocurrency ecosystem to a shadow of the global fiat system today. Algorithmic stablecoins and DeFi might stay out of the regulatory loop for sometime but not forever. Whether they will be able to earn the trust of the average retail consumer remains to be seen. The collapse in pegs ofalgorithmic coins such as fei and ironhave created doubts in recent times.
Stablecoins might also not reduce to a monopoly of the Fed, if other countries retaliate. China, Russia and the European Union have all taken steps or voiced concerns to move past the dollar-dominant financial system. All three countries have also actively experimented with and regulated cryptocurrencies or built their own digital currency. It is very likely that if U.S.-bank or Treasurys-backed stablecoins emerge, these countries will issue stablecoins backed by their own currencies into the wider cryptocurrency market. Both CBDCs and private and public-private stablecoins denominated in different currencies could emerge as a counter to U.S.-centered regulation of stablecoins.
A critical component of the cryptocurrency ecosystem could, hence, either become a shadow of the existing system or a battleground of intense geopolitical currency wars. In either case, in remaining a pillar of an independent financial cryptocurrency-based system, stablecoins face a considerable challenge.
• Fundamentally Incompatible: How the Proposed Crypto Tax Rules Miss the Mark
• Money Reimagined: Can DeFi Stay Decentralized? || Link, dot and XRP lead another altcoin rally as investors opt for cheaper coins with smart-contract capabilities: crypto coins circle Nurphoto Chainlink's link climbed 18% to reach a high of $36.35, the highest since May 19. XRP, dot and litecoin also posted gains. Investors have been piling into altcoins because they are cheap and have smart contract capabilities. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Link, bitcoin cash, XRP, dogecoin, dot and litecoin soared to new multi-month highs on Monday as investors opted for cheaper alternatives to bitcoin whose networks can support decentralized finance applications and smart contracts, analysts said. A smart contract is a piece of code that allows people to enter into financial agreements without the need for a centralized player like a commercial bank or broker. Thanks to their ability to run smart contracts, blockchain networks like ethereum have been able to do more than just host cryptocurrencies. They can include different layers of software, host non-fungible tokens and more. The bitcoin network is slower, more expensive to use and generally does not handle this type of application. Bitcoin is still the largest cryptocurrency by market value by a long way. But it's lagged behind some of the smaller tokens in recent weeks. "What makes bitcoin less popular is its high cost and its enclosed nature when compared with that of ethereum and other smart contract-enabled altcoins," Yuriy Mazur, head of data analytics department, CEX.IO broker, said. "The crypto community believes altcoins can go up 5x or even 10x over the next several months, while Bitcoin will slowly grind higher," Edward Moya, senior market analyst at OANDA said. Link climbed the most by as much as 18% over the previous 24 hours to reach a session high of $36.35 - its strongest since May 19 - and was last up 6.8% at $35.79, compared with a gain of 1.65% in bitcoin, according to Coinmarketcap . The coin has rallied 45% in the last month, compared with a 15% rise in bitcoin. "At this pace, we can see the digital token rise to $50 in approximately 14-21 days. We can face correction along the way, but the growth surge is more likely at this time," Mazur said. Story continues Chainlink underpins the link token and offers smart contracts much like the ethereum network. The company said in a tweet last week that a record 76 new integrations took place on the network in August, bringing the total to 755. on any blockchain like ethereum. "It seems that the demand for chainlink is growing, as well as its utility," Mazur said. "Additionally, the growth recorded in the past month has highlighted the relevance the token has continued to print, extending its lead as the first network to allow the integration of off-chain data into smart contracts," he added. Ether was last up around 0.6% at $3943, while other coins like XRP rose almost 8% to $1.37, and polkadot's dot was up about 2.0% at $34.25. Cardano's ada hit record highs last week ahead of this month's "alonzo" network upgrade, but lagged the rest of the crypto complex, easing by 0.4% to around $2.856. "Now amongst the favorites of crypto enthusiasts are ethereum and cardano, which have shown impressive results lately and are going through the era of hard forks. Ethereum has already had an update, and a cardano update is coming," Mazur said. Read the original article on Business Insider || Bitcoin Price Prediction Bears Eye a Return to sub-$50,000: After a mixed start to the week for Bitcoin and the broader crypto market, its been a bearish Tuesday morning. At the time of writing, Bitcoin , BTC to USD, was down by 3.02% to $51,084.0. A mixed start to the day saw Bitcoin rise to an early morning high $52,888.0 before hitting reverse. Falling short of the first major resistance level at $53,262, Bitcoin slid to a late morning current day low $50,600.0. The sell-off saw Bitcoin fall through the first major support level at $51,570. Steering clear of the 23.6% FIB of $50,473 and the second major support level at $50,464 was key early on. The Rest of the Pack It has been a bearish morning for the broader crypto market. At the time of writing, Ripples XRP was down by 7.45% to lead the way down. Cardanos ADA (-6.36%), Chainlink (-6.39%), and Crypto.com Coin (-6.47%) also saw heavy losses. Binance Coin (-5.16%), Bitcoin Cash SV (-5.95%), Ethereum (-4.33%), Litecoin (-5.52%), and Polkadot (-2.42%) also struggled, however. Through the early hours, the crypto total market cap rose to an early morning high $2,390bn before falling to a low $2,253bn. At the time of writing, the total market cap stood at $2,292bn. Bitcoins dominance fell to an early morning low 41.45% before rising to a high 42.21%. At the time of writing, Bitcoins dominance stood at 41.93%. For the Afternoon Ahead Bitcoin would need to move back through the first major support level at $51,570 and the pivot at $52,156 to bring the first major resistance level at $53,262 into play. Support from the broader market will be needed, however, for Bitcoin to breakout from this mornings high $52,888.0. Barring a broad-based crypto rebound resistance at $52,000 would likely pin Bitcoin back. In the event of an extended rally through the afternoon, the first major resistance level at $53,262 would likely cap the upside. The Bitcoin bulls may need to wait for another day to revisit $55,000 levels. Failure to move back through the first major support level at $51,570 would bring sub-$51,000 levels back into play. Story continues Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$50,000. The 23.6% FIB of $50,473 and the second major support level at $50,464 should limit the downside. Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs early in the morning before narrowing. The 100 EMA also pulled away from the 200 EMA adding further early support. Through the mid-morning, however, a narrowing of the 50 and the 100 EMAs on the 200 weighed. Key going into the afternoon would be a break back through to $52,000 levels. A further narrowing of the 50 EMA on the 100 EMA, however, would bring sub-$51,000 levels back into play. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast Euro Fails at 200 Day EMA Kroger Overbought and Overpriced Weak August Payrolls: Why We Should Care Crude Oil Price Forecast Crude Oil Markets Pull Back to Kickoff Tuesday Session AUD/USD Price Forecast Australian Dollar Tests 50 Day EMA S&P 500 Price Forecast Stock Markets Messy to Kickoff Week || Cryptocurrency Market Rising to Reach USD 1758 Million at a CAGR of 11.2% by 2027: Leading Companies in the global Cryptocurrency Market are Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Inc., Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo, and BTL Group Ltd
Pune, India, Aug. 05, 2021 (GLOBE NEWSWIRE) -- The worldwidecryptocurrency marketsize is anticipated to arriveat USD 1,758.0 millionby 2027, displayinga CAGR of 11.2%during the estimated time frame. Cryptocurrency is a system of virtual currency exchange that is aimed to eliminate financial intermediaries. The developing tendency of people in created nations towards virtual cash trade strategies will immensely affect the market during the gauge time frame. The joining of blockchain innovation in cryptographic money for quick, secure, and compelling exchanges will reinforce sound development of the market in the impending years, referenced in a report, titled “Cryptocurrency Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, Others), By End-use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2021 – 2027 ”, the market size stood at USD 754.0 million in 2021.
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List of Key Players in Cryptocurrency Market:
• BitGo Inc. (U.S.)
• Binance, com (Malta)
• Bitfury Group Limited (The Netherlands)
• Coinbase (U.S.)
• Coindesk.com (U.S.)
• Intel Corporation (U.S.)
• Ripple Labs Inc. (U.S.)
• Xilinx (U.S.)
• Bitmain Technologies Ltd. (Saint Bitts LLC) (China)
Report Scope & Segmentation
[{"Report Coverage": "Forecast Period", "Details": "2020 to 2027"}, {"Report Coverage": "Forecast Period 2020 to 2027 CAGR", "Details": "11.2%"}, {"Report Coverage": "2027 Value Projection", "Details": "USD 1758 Million"}, {"Report Coverage": "Base Year", "Details": "2019"}, {"Report Coverage": "Market Size in 2019", "Details": "USD 754 Million"}, {"Report Coverage": "Historical Data for", "Details": "2016 to 2018"}, {"Report Coverage": "No. of Pages", "Details": "103"}, {"Report Coverage": "Segments covered", "Details": "Component, Type, End-use and Geography"}, {"Report Coverage": "Growth Drivers", "Details": "Rising Popularity of Digital Currency to Augment Growth"}, ["Existential Players to Promote Growth in North America"], ["Acquisitions and New Product Launches to Intensify Market Growth"], {"Report Coverage": "Pitfalls & Challenges", "Details": "Raging Coronavirus to Sway Market Potential"}]
COVID-19 Impact:
Coronavirus has plummeted the growth of the financial market across the globe, including the cryptocurrency market. The level of stability in the digital currency landscape has considerably diminished. The market is attracting investments despite the uncertainty prevailing in the digital currency industry. Digital currencies like Ethereum, Bitcoin, etc., have witnessed inflation in prices despite the pandemic. Firms across several nations have paused their mining operations due to the pandemic. Some countries like Russia have delayed the deployment of cryptocurrency laws due to the pandemic.
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Raging Coronavirus to Sway Market Potential
The outbreak of COVID-19 has negatively impacted the global economy. The regression in the stock market has directedly created concerns for the bitcoins. For instance, 12 March 2021, the price of Bitcoin fell below USD 4,000 after a sharp decline in the S&P Index in the U.S. The market crash has incited an increase in investment capital by blockchain companies to compensate for the losses. Giant blockchain analytics, Elliptic, Chainalysis, and CipherTrace declared that they have cut-price and reduced staffs or intend to do so in the immediate future to lessen the economic effects of the coronavirus pandemic. For instance, CipherTrace has decreased the jobs of the advertising and marketing departments. Whereas Elliptic has eliminated 30% of the workers in the U.S. and the U.K and Chainalysis has planned to reduce employees' wages by 10% to mitigate the risks.
We are taking consistent endeavors to assist your business with supporting and develop during COVID-19 pandemics. In view of our experience and aptitude, we will offer you an effective investigation of Covid episodes across enterprises to assist you with setting up what's to come.
Segmentation:
Based on components, the market bifurcates into software and hardware. Based on type, the market is classified into Ether, Ether Classic, Bitcoin, Ripple, Litecoin, etc. On the basis of its end-user, the market segments into e-commerce and retail, remittance, trading, and peer-to-peer payment. Geographically, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Market Driver:
Rising Popularity of Digital Currency to Augment Growth
The rising pattern of cryptocurrency has prompted the acknowledgment of computerized coins like Bitcoins, Litecoins, Ethers, and the sky is the limit from there. The simple and adaptable conditional strategy offered by cryptographic money has encouraged the Central Bank Digital Currency (CBDC) movement arrangements across the world. For example, the Bank of Thailand and the Central Bank of Uruguay have applied for the tool stash to its CBDC assessment measure. The toolbox conveys a guide for the nations to gain ground rapidly and break down CBDC as a trade medium.
Moreover, the expanding interest in blockchain and cryptographic money by significant organizations will empower the rapid development of the market. For example, in October 2021, Qtum Chain Foundation, a publicly released blockchain application stage situated in Singapore reported an association with Amazon Web Services (AWS) China to convey blockchain frameworks on the AWS cloud. The organization will permit help AWS clients to utilize Amazon Machine Images (AMI) to create and distribute shrewd agreements effectively and productively.
Likewise, the presentation of exceptional advanced monetary standards by prominent organizations will impact the market decidedly soon. For example, in June 2021, Facebook, Inc. declared the dispatch of advanced money named Libra. Libra will empower clients to purchase things or send cash to other people and money out Libra on the web or at basic food item shops.
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Regional Insights:
Existential Players to Promote Growth in North America
The market in North America remained at USD 250.9 million out of 2021 and is anticipated to multiply in the approaching years. The development in the district is credited to the rising fame of bitcoins in the US. The presence of major famous players will cultivate development in the locale during the conjecture time frame. The Asia Pacific is required to observe critical development during the figure time frame attributable to the innovative turns of events and acknowledgment of virtual money in Japan. The developing joint efforts among central members will fundamentally support the digital money market development in the Asia Pacific. For example, in January 2021, Z Corporation, Inc. also, TaoTao, Inc. declared a joint endeavor with the monetary help office to grow its essence by affirming administrative consistency in the Japanese market.
Competitive Landscape:
Acquisitions and New Product Launches to Intensify Market Growth
The global market consists of several key players operating at regional and global levels. These giants focus on enhancing their platforms by acquisitions, partnerships, and expanding their digital infrastructures. For instance, Binance.com introduced the ‘binance cloud’ to offer digital asset exchange with security and liquidity in February 2019.
Industry Developments-
• April 2020: Bitcoin.com announced a partnership with the Bit Mining company to expand its services across Japan.
• November 2019: Binance.com acquired WazirX. The acquisition has enabled the adoption and production of new financial technologies to simplify access to cryptocurrency.
Quick Buy- Cryptocurrency Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/100149
Major Table of Contents:
• IntroductionDefinition, By SegmentResearch ApproachSources
• Executive Summary
• Market DynamicsDrivers, Restraints, and OpportunitiesEmerging Trends
• Key InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersCOVID-19 Impact Analysis
• Global Cryptocurrency Market Analysis, Insights and Forecast, 2016 – 2027Key Findings / SummaryMarket Size Estimates and ForecastsBy Component (Value)HardwareFPGAASICGPUOthers (Paper Wallet, Web Wallet, etc.)SoftwareMining SoftwareExchanges SoftwareWalletPaymentOthers (Vaults, Encryption, etc.)By Type (Value)BitcoinEtherLitecoinRippleEther ClassicOthers (Dogecoin, Moneor, Dash, etc.)By End-use (Value)TradingE-commerce and RetailPeer-to-Peer PaymentRemittanceBy Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin America
TOC Continued…!
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Read Press Release:https://www.fortunebusinessinsights.com/press-release/cryptocurrency-market-9952 || Crypto Coin Listings Exploded in 2021: In the first half of 2021 data aggregator CoinMarketCap added 2,655 new crypto assets to its database, bringing the total number of listed coins to 10,810, according to data shared with CoinDesk. For perspective, in 2018, during the peak of the initial coin offering (ICO) boom, CoinMarketCap listed its 2,000th asset on its website. This year “saw a Cambrian explosion of new crypto assets largely as a consequence of several tailwinds,” said Aaron Khoo, head of listings at CoinMarketCap, referring to the evolutionary event that took place 541 million years ago when large numbers of new organisms seemingly burst into existence. Related: Bitcoin Upside Stalls; Lower Support at $38K-$40K Like CoinMarketCap, two other data aggregators also added 2,000 or more new assets to their databases in 2021. Singapore-headquartered CoinGecko listed 3,064 new assets on its website while the smaller, Poland-based crypto data and research platform Coinpaprika listed 2,000 new assets. Wojciech Maciejewski, business development manager at Coinpaprika, said the platform is currently inundated with new applications for coin listings. “We don’t have enough people to go through all the applications,” Maciejewski said. Representatives from CoinMarketCap, CoinGecko and Coinpaprika agree the 2021 surge in new crypto assets is driven by a combination of bullish price action, the influx of traditional financial institutions, influencers and celebrities to the space, along with the non-fungible token (NFT) boom and the rise of meme coins like dogecoin , shiba and safemoon. But this is not the first time the crypto space has witnessed a dramatic surge in new assets. After the initial coin offering (ICO) boom kicked off in 2017, new crypto assets poured into the market much in the same way. However, more than three-quarters of those ICOs turned out to be scams, while almost half failed to raise funds. Related: Market Wrap: Bitcoin Rallies Ahead of Senate Compromise Story continues And if history’s any indicator, of the thousands of new crypto assets that have exploded onto the market in 2021, only a few will survive. “We have no data to back that but the expectation is that [the new assets] are more or less similar to the 2017 ICO round where only a handful managed to stick around after the initial craze,” Sze Jin Teh, principal product manager at CoinGecko, said in an email. Behind the numbers Between 2014 and 2021, almost 16,000 crypto assets were created, according to data from CoinGecko. But this number includes all coins, both active as well as inactive assets (assets attached to disrupted projects). For instance, according to Maciejewski, active assets on Coinpaprika account for around half of the 6,342 assets listed on the site. And a portion of these deactivated crypto assets were born out of the ICO boom. CoinGecko, for instance, recorded its monthly high for the number of new coins listed on its platform in 2017, according to data shared with CoinDesk. The platform listed 914 assets in December 2017 alone. According to Kristian Kho, operations lead at CoinGecko, December 2017 was the peak of the ICO craze when retail interest in crypto rose, coinciding with the all-time high bitcoin price at the time. “This was the first time we saw a rush of a new class of tokens being created to capitalize on the success of the first few trailblazers (Filecoin, Tezos, EOS and the like). We even created a dedicated ICO page to track all the ongoing ICOs back then,” Kho said. But a majority of those tokens were short-lived. “Many of the projects that had raised funds simply dissolved upon exhausting their runways,” said Kho. But Jin said even more coins have popped up this time around compared to 2017, and across multiple chains including Ethereum, Polygon and Binance Smart Chain. “There are more and more new ideas, but also more scams that we have to inform our users of,” Maciejewski said, adding that Coinpaprika is receiving up to seven times more requests than it did in 2018. And these staggering numbers still don’t reflect the total amount of crypto assets floating around the internet. “The coins listed on CoinMarketCap represent a thin sliver (~20% approval rate) of the total number of new coin applications,” Khoo said in an email to CoinDesk. According to Khoo, during the first half of 2021, CoinMarketCap received a whopping 10,793 applications from crypto projects and companies seeking to have their new assets listed. The vetting process To face the rising numbers of crypto assets and listing applications, each listing platform has its own set of criteria for approving a new asset. CoinMarketCap reviews an extensive list of metrics shared on its website , but according to Khoo, there is also an element of competitive benchmarking, by comparing the asset to other, similar applicants. “Listing evaluation by CoinGecko is done holistically with a set of internal criteria used to evaluate each coin. The exact listing criteria are not disclosed to prevent manipulation by the project team,” Kho said in a written statement. But both platforms, along with Coinpaprika, look closely at the coin’s active trading volume and liquidity, along with other factors including social media presence, community attitude towards the coin and the team behind the project. According to CoinGecko’s Kho, the rise of decentralized exchanges (DEXs), where the listing is permissionless and fees are low, has made it even easier to create and market coins. This means anyone can tokenize anything, fuelling the strange new world of meme coins , Kho said. “In light of this, CoinGecko has become much stricter in listing new tokens. This is because the instances of scam coins have increased with the rise of DEXs,” Kho said. Currently, Coinpaprika accepts 95% of requests for assets already listed on centralized exchanges like Binance or Coinbase, discarding only incomplete applications. But when it comes to DEXs, the acceptance rate drops to around 60% or 70% because they do not typically have stable or reliable API endpoints (communication channels) due to their decentralized nature. Meme coin rush According to Kho, the highest percentage of applications received at CoinGecko are for meme coins. “The popularity and price increase of meme coins such as dogecoin and shiba inu coin has inspired many to come up with their own derivative meme coins in the hopes of capturing the success of the former two,” Kho said. He added that the ease of creating a simple token allows anyone to launch a meme coin, and with it apply for listing at CoinGecko. “In the last quarter, meme coins (especially those of the canine variety) dominated new coin applications, accounting for roughly three out of four new applications,” Khoo from CoinMarketCap said in an email to CoinDesk. He also said that in keeping with the meteoric rise of Axie Infinity, a game partly owned and operated by its players, CoinMarketCap is witnessing a modest uptick in NFTs and gaming coins. But 2021’s meme coins appear to be the assets that most resemble 2017’s ICO tokens in terms of quantity and longevity. “Meme tokens tend to be ephemeral, and I’d say that approximately 75% of them meet a quick death if they do not go viral within the first few months,” Khoo said. He explained that the biggest determinants of failure are a hastily cobbled-together team looking to make a quick buck and the absence of true believers rallying around a common cause within the coins’ respective communities. But it’s still too early to tell the fate of the nascent crypto assets that have just joined the market, according to Kho. “Quantity is there but quality remains very subjective – among meme tokens and yield farms, there are projects genuinely looking to improve the space so it probably still takes time before we are able to tell,” Kho said. Related Stories Bitcoin Holds Support; Next Resistance at $50K Ether Erases Early Losses to Trade Above $3K || MicroStrategy Shows How Bullish It Is With Bitcoin By Adding $177 Million Worth Of BTC To Its Balance Sheet: Corporate entities have started entering the cryptocurrency market, but none of them is as bullish as MicroStrategy.
MicroStrategy has shown again why it is the most bullish corporate entity currently present in the cryptocurrency space. Michael Saylor has spearheaded the company’s entry into the cryptocurrency market, and MicroStrategy has been hungry for more ever since.
The publicly-traded company revealed yesterday that it hadbought an extra 3,907 BTCfor a total of $177 million. Following this latest development, MicroStrategy has now spent $2.91 billion in buying bitcoins, and it now holds 108,992 BTC.
The average price of eachBitcoinis around $26,769. However, in Bitcoin’s current value, the 108,992 BTC represents approximately $5.3 billion, implying that the company has recorded more than 70% profit since it started buying Bitcoins.
Michael Saylor and his MicroStrategy have been one of the biggest players in the cryptocurrency market. The company holds more bitcoins than any other corporate entity in the world, despite buying BTC for the first time since June.
The business intelligence software company started investing inBitcoinlast year. Its entry has convinced a few other companies, such as Elon Musk’s Tesla and SpaceX companies, to also buy bitcoin and hold them in their balance sheet.
MicroStrategy is playing the long game withBitcoin, and Michael Saylor has the backing of the investors. He has been raising funds to buy more bitcoins, and investors have been more than willing to open their checkbooks and hand him what he wants. The company believes in Bitcoin’s future and is betting big on it.
The cryptocurrency market has slightly retreated after recording wins over the weekend.Bitcointouched $50k a few days ago, but it is now down by 3.2% today and trading just above the $47,700 region.
Unless the market experiences a comeback,Bitcoincould slip further towards the $45k mark over the next few hours or days. However, it could also recover and rally towards the $50k level once again. The MicroStrategy didn’t do much to overturn the bearish sentiment in the market.
Thisarticlewas originally posted on FX Empire
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• GBP/JPY Price Forecast – British Pound Pulls Back Slightly || Investment Service Firm Wealthfront now offering BTC and ETH Exposure: BeInCrypto –
Automated investment service firm Wealthfront Inc. has announced it will be adding bitcoin and ethereum trusts through Grayscale.
Wealthfront hasannouncedthat the company has expanded its current investment portfolio to include Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). The automated investment service firm currently manages over $25 billion in assets.
The company now becomes the first of its kind to offer exposure to cryptocurrency services as part of a diversified portfolio. The company includes automated features such as tax-sensitive rebalancing, intelligent dividend reinvestment and tax-loss harvesting.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Cuba to recognize -- and regulate -- cryptocurrencies: HAVANA (AP) Cuba's government said Thursday it will recognize and regulate cryptocurrencies for payments on the island. A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba. The popularity of such currencies has grown among a technologically savvy group in Cuba as it has become harder to use dollars, in part because of toughened embargo rules imposed under former President Donald Trump. The Central American nation of El Salvador recently announced it would recognize use of the cryptocurrency Bitcoin as a way to encourage remittances from its citizens living abroad. The currencies, which can wobbly wildly up and down in value, are usually independent of any central bank and use widely distributed blockchain computer codes to keep track of transfers. Because they can be used for long-distance transactions that are supposedly anonymous, they are often popular with people attempting to evade government regulations presumably including U.S. restrictions on sending money to places such as Cuba. The resolution says the Central Bank can authorize use of cryptocurrencies for reasons of socioeconomic interest but with the state assuring that their operations are controlled. It also explicitly noted that operations could not involve illegal activities. A local cryptocurrency expert, programmer Erich García, said some Cubans are already using such devices, often via gift cards, for online purchases.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-02-12]
BTC Price: 384.26, BTC RSI: 48.18
Gold Price: 1239.10, Gold RSI: 80.19
Oil Price: 29.44, Oil RSI: 45.05
[Random Sample of News (last 60 days)]
Is Oil Driving The Stock Market? And Should Traders Care?: Recent headlines imply that the slump in the oil market caused the January drop in global stocks. They also point to oil rallies as the reason for stock rallies. But is the relationship causation or just correlation? Should we say one happened “and” or “because” the other one did?
Early in the Wednesday US trading session, crude oil futures dropped by nearly a dollar a barrel and the S&P 500 quickly moved in lockstep, dropping over 40 points in the same hour.
The larger downward trend of Monday and Tuesday in oil was also mirrored in the stock market. Crude oil’s drop was a full 11%, the largest percentage drop since March 2009. However, the drop in stocks over those two days was not nearly as dramatic.
On Wednesday, the markets diverged in the morning. Crude had a brief selloff when the weekly EIA Petroleum Status Report came out, but then it bounced and an hour later WTI crude oil futures (Nadex: Crude Oil) had pushed above $31 a barrel and come within 20 cents of $32.
Stocks only came along for half of that ride. The S&P 500 (Nadex: US500) dropped 40 points, but only regained half of that loss. While oil was rising to two-day highs, stocks hovered near Tuesday’s lows. Clearly the exuberance among crude oil traders had not inspired similar optimism among stock index futures traders or investors as a whole.
Later in the day stocks did rally, but at the day’s close, crude oil was up over 8% and equity indexes were unchanged. Clearly stock traders were not taking their cues from the bullishness of oil traders. In fact, it’s hard to say what crude oil traders were using to guide their decisions on Wednesday.
Why were oil traders so bullish following a fairly downbeat EIA report? You’d have to do some mental gymnastics to come up with a direct reason. The record supply glut set a new record, with global oil inventories rising to over half a billion barrels and driving up gasoline inventories as well.
Foreign output remains high, with Iran now adding more of its stockpiles and production to the world market. And with large inventories and weak demand, refineries are cutting back production.
The weak demand comes despite the low prices. Demand for gasoline is off 0.9% year on year, despite gas prices being down 25% from this time in 2015. Demand for heating oil and distillates is down a full 16%, thanks to a warm winter and weak industrial demand. That perception of industrial weakness got further proof with Monday’s weak ISM Manufacturing Index report, the fourth weak report in a row and the worst streak of manufacturing numbers since 2009.
And despite that substantial negative report, the bulls had the day in crude oil. And even though stocks ended flat, some analysts will say that crude oil’s rally had a delayed effect on stocks and caused the afternoon rally.
When crude oil’s price action doesn’t even seem to have a logical connection to the latest supply and demand report, is it reasonable to think that stock traders are tying their decisions to such an emotional and unpredictable market?
Stock traders aren’t showing much consistency in their reactions to the news, themselves. The recent earnings reports were overall positive among S&P 500 companies, indicating that US businesses continue to be profitable. Yet some are pointing to earnings per share as a problem sign. A report from Goldman Sachs even said that profit margins are too high and if they don’t go down and revert to the mean, they believe it raises questions about “the efficacy of capitalism” itself.
It is a time when short-term traders who simply watch price movement tend to have an advantage. On Nadex, binary option and spread traders can trade the ups and downs without speculating on the whys and wherefores. Sometimes that is best left to the analysts. For traders, explaining the move isn’t nearly as important as trading it.
This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.
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• Bitcoin Is Thriving As Stock Markets Dive
• The Simple Reason This Market Drop Makes Sense
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Can The Bitcoin Foundation Last?: The Bitcoin Foundation was launched in 2012 as a way to provide legitimacy to bitcoin and cryptocurrencies at a time when they were relatively unknown. For two years, the foundation worked to lobby lawmakers, create public awareness and help bitcoin technology advance with the changing times. However, in 2014 when the price of bitcoin dropped dramatically, the foundation lost a great deal of its funding and now almost two years later, it continues to struggle. Money Issues One of the foundation's largest problems lies in its finances. The Bitcoin Foundation's board members have proven inexperienced at raising money and managing finances, an issue that has caused the organization to lose around $7 million over the course of the past two years. Related Link: What's In Store For Bitcoin In 2016 On December 15 when the Bitcoin Foundation held its board meeting, Executive Director Bruce Fenton admitted that the organization was in dire straits and that more funding would be required in order to keep the foundation up and running, according to Bloomberg. A Bad Reputation However, while the bitcoin community strongly supports spreading the word about cryptocurrencies, the Bitcoin Foundation has found it increasingly difficult to recruit new members and drum up donations. One of the reasons for this has been the organization's deteriorating reputation. As bitcoin itself was dragged through the mud due to high profile scams, some Bitcoin Foundation board members were wrapped up in scandals of their own. Former Vice Chairman of the Bitcoin Foundation Charlie Shrem is serving time in prison for his involvement in the illegal Silk Road marketplace, and founding member Mark Karpeles, the brain behind failed exchange Mt. Gox, was arrested on charges of embezzlement in August 2015. Does Bitcoin Need A Foundation? While the Bitcoin Foundation has been instrumental in helping the cryptocurrency advance, many believe the currency is likely to survive even without the organization. While the Bitcoin Foundation represents the first major entity to advocate cryptocurrencies, several others have since emerged and will likely take on the organization's role should it deteriorate further. Story continues Hanging On By A Thread On December 22, the Bitcoin Foundation voted to continue into the New Year and appointed three new board members. In an effort to turn things around, the foundation is working to revamp its mission statement and focus on maintaining healthier financials. Image Credit: Public Domain See more from Benzinga What Does The End Of The Oil Export Ban Mean For Investors? Could 2016 Be The Year Of Drone Deliveries? Are Bank Stocks The Way Forward In 2016? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Record highs predicted for bitcoin in 2016 as new supply halves: By Jemima Kelly
LONDON (Reuters) - 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.
Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.
The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand.
Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $11,000 (BTC=BTSP).
But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", who has yet to be identified, the bitcoin program was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 2016.
Bitcoin was also designed to emulate a commodity by having a finite supply of 21 million bitcoins, which will be reached in around 125 years, up from around 15 million today. Hence, also, the use of the term "mining".
Daniel Masters, co-founder of Jersey-based Global Advisors' multi-million dollar bitcoin hedge fund, started his career as an oil trader at Shell in the mid-1980s and spent 30 years trading commodities before crossing over to bitcoin.
Now he reckons the price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.
That would be due to a number of factors, Masters said, including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the "blockchain" technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.
But taken in isolation, the halving of the mining reward will increase the price of bitcoin by around 50 percent from where it is now, Masters reckons. That is despite the fact that the halving of the reward has always been inevitable - a factor that would already have been accounted for in pretty much every other market.
"If OPEC (Organization of the Petroleum Exporting Countries)came out tomorrow and said, 'in six months' time we're going to halve oil production', the oil price would instantaneously react. But the bitcoin market is still in its infancy, and I don't think that factor is discounted into the price fully," he said.
DECENTRALIZED DIGITAL ASSET
Bitcoin's price has already almost doubled in the last three months, putting it on track for its best quarter in two years. It hit $500 last month for the first time since August last year, with Chinese demand for a pyramid scheme set up by a Russian fraudster cited as a reason for the price surge.
But Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, reckons there is scope for the cryptocurrency to go much further. He thinks the price could increase by as much as eight times in the time up to the reward halving, taking it as high as $3,500 by next summer.
"Today the worth of bitcoin is $1 per capita in the world (population)," Lee said, referring to the value of all the bitcoins in circulation, around $6.5 billion. "For such an innovative, decentralized digital asset, I say 'boy, are we undervaluing it'. But it takes a while for people to realize that."
The mining reward has already been halved once before, in November 2012, from 50 to 25 bitcoins. The stakes were much lower then, with one bitcoin worth around $12, but nevertheless the price increased by about 150 percent in the preceding seven months - roughly the time left before the next halving.
"It (the halving) dampens supply so, all other things being equal, that puts upwards pressure on price," said Jeremy Millar, partner at London-based financial technology specialists Magister Advisors, who expects demand to continue to increase.
"No one can argue with that fundamental economic principle."
(Editing by Greg Mahlich) || You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control. The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list. On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom. One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant of hackenfreude , ironic isn't exactly the word I'd use to describe what happened. The @Forbes website held content until I disabled Ad Blocker. I did so and was immediately given pop-under malware. pic.twitter.com/eDVRAA9ZSu — Brian Baskin (@bbaskin) January 4, 2016 That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites. Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security company Malwarebytes contacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network. It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016. Story continues Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it's considered the biggest malvertising attack so far). October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions 64.4 million ). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers; ad impressions 1.7M ). That attack sat unattended after being in the press, and was fixed only after a week of public outcry. It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have a lot in common. pop-up ads coming out of laptop screen with a spring Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain. It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible. It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site. But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information. What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens. So, to my friend on the Forbes 30 Under 30 list -- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus. [Image credit: Getty Images] || How Diageo Plans To Turn Its Smirnoff Brand Around: Diageo Plc (ADR)(NYSE:DEO) has already declared its New Year's resolution — to turn its struggling Smirnoff vodka brand around. In the 2014-2015 financial year, Smirnoff sales by 3 percent as consumers turned their attention to "craft" vodka brands with smaller batches and local distilleries.
Flavor Mistakes
However, Smirnoff wasn't always struggling. The brand became hugely popular with several flavor varieties when consumers were interested in unique cocktails, but that era seems to have ended leaving the vodka brand behind with it.
In an effort to revive the brand this year, the company added 42 new flavors designed to appeal to younger drinkers. However, the decision missed the mark and Smirnoff global brand director Matt Bruhn admitted that the flavor additions were a "mistake."
New Strategy
Diageo Chief Executive Ivan Menzes vowed to turn the brand around this year as vodka market makes up about 12 percent of the company's net sales. In order to do this, Smirnoff is to cut down on the number of flavors offered and embed its name into the electronic-dance-music community.
Smirnoff is slated to sponsor 26 electronic-music festivals in the coming year and the brand has also developed a sound collective that will sponsor fresh new electronic-music artists. The company has also created a line of glow-in-the dark flavors that will be marketed as shots.
Competing With Craft
All of Smirnoff's efforts in the coming year are designed to appeal to the coveted millennial generation, a group that has recently reached the legal drinking age and makes up a huge percentage of the market. While Smirnoff's efforts are valiant, many believe that the company is fighting an uphill battle as bespoke companies that make unique offerings have become popular choices among young people.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 16 Bold ETF Predictions for 2016: 2015 wasn’t exactly a great year for fund investors. A few choice companies dominated and left their competitors in the dust, making it a pretty poor year to be a sector investor. For example, stocks like Amazon (AMZN) or Netflix (NFLX) more than doubled in 2015 while not a single major SPDR sector looks to finish the year with gains in excess of 11%. However, 2016 looks to be a bit brighter, assuming of course it isn’t going to be a ‘stock picker’s market’ again in the New Year. Beyond that though, it looks to be another exciting and prosperous year for the ETF industry, and one that looks to see plenty of changes, as well as new funds. In terms of what specifically the New Year might hold, I offer up 16 predictions on what I think 2016 will hold for the world of ETFs, and what investors need to watch for in the New Year: What does 2016 hold for the ETF world? Hedged currency trend finally ends One of the most annoying trends in 2015 has been the surge in every type of hedged currency ETF you could think of, be it half hedged, dynamic hedged, or Chinese currency hedged. While I think the dollar will strengthen a bit more, I think the second half of 2016 will see the flow of hedged ETFs slow to a trickle—if not an outright halt—as the dollar levels out and investors look elsewhere for gains in foreign markets (see Flurry of New Currency Hedged ETFs Fuels Price War ). ETMFs Debut, but stumble out of the gate Exchange Traded Mutual Funds are going to be a big buzzword in 2016 as companies like Eaton Vance look to launch this product type which seeks to provide the exchange-traded benefits of ETFs, with the closed-off holdings aspects of mutual funds to prevent front-running. While I think these will one day have a place in the fund world, they will stumble out of the gate as they confuse investors, unless of course big name players jump on this category and can bring their brand name following with them. More specialized sectors funds look to catch fire, but struggle After the insane rise of the cybersecurity ETF (HACK) in the past year, a number of ETF issuers are looking to strike it rich with similar products in the New Year. As of late, I have seen filings for e-commerce funds, 3D Printing ETFs, and an Internet of Things product, with all of them looking to catch fire like HACK did. However, HACK had a massive catalyst, and without that, the new funds will struggle for a bit to gain popularity in 2016 (see Invest in Booming Technologies with These 3 ETFs). Story continues IWM will beat SPY in 2016 Large caps led the way in 2015, mostly thanks to incredible performances from well-known companies. I think this trend reverses in 2016 and we see a return of the small cap ETF (IWM) and its outperformance over its large cap counterparts in the New Year. RSP will beat SPY in 2016 In that same vein, the equal weight S&P 500 fund (RSP) had long beaten its cap-focused counterpart, SPY . However, this trend ended in 2015 thanks to those surging mega cap securities. I am also looking for this trend to reverse in 2016 and to see a resurgence of equal weight product demand in general for the New Year as well. Surge in duration hedged/negative duration ETF interest A few years ago, hedged Japan ETFs (like DXJ ) hit the market and many thought they were too sophisticated for retail investors. However, as this turned out to be the best way to play the Japan story, investors of all stripes flocked to these products, making them ultra-popular choices in the Japan market. The same concerns are present now with hedged/negative duration bond funds and I think as interest rates rise these will have their time in the sun (by being the best bond ETF plays) and surge in popularity in 2016 ( Worried About Higher Interest Rates? Buy These 4 ETFs to Profit ). Ex-sector funds hit $100 million under management If 2016 is anything like 2015, we will see at least one major sector stumble. That is why I think the lineup from ProShares of ex-sector ETFs (ex-energy, ex-financials, ex-health care, and ex-technology) will finally surge in 2016 after languishing in anonymity for much of Q4 in 2015. With a year under their belt, these will finally see some interest from investors and will go from a combined AUM of under $20 million today, to a combined AUM of at least $100 million by year’s end. New SPDR Select Sector ETFs hit $100 million in assets State Street’s SPDR lineup has proven to be very popular, but the company recently launched two new products to round out its financial ETF offering; XLFS (focus on financial services) and XLRE (focus on real estate). Both of these made their debut in Q4 but haven’t really seen a surge in assets. I think this will change in 2016 as the interest rate picture becomes clearer, making at least one of them a $100 million product, up from roughly $16 million total right now. Oil-free in 2016 The trend against oil investing will continue in 2016 and I think we will see at least a few more fossil-free funds hit the market as investors look to avoid this space in their portfolios. I also think we could see an oil-free bond ETF (or fossil free bond ETF) as issuers look to cash in on the trend against oil investments and over the concerns of defaults in the high yield market in this corner of the fixed income world (read Support the Environment and Profit with Fossil Fuel Free ETFs ). ETF Closures Go Over 100 and Hit/Approach a Record There are nearly 20 funds that have less than $1 million in assets under management, while about 300 have less than $5 million under management. There is basically no way these are profitable and I am sure we will see a host of closures in 2016 as the writing on the wall becomes clear for many of these strategies. This will make 2016 another big, if not the biggest, year for ETF closures on record. Someone Will Close Down Too Early The flip side of this is that a fund will close down too early. In 2016, I predict a fund will shut its doors only to see its segment go on to great popularity within the next few months. We saw this with FAA and the airline space (among others) and it is hard to discount the importance of timing in the ETF world right now, so look for this to happen to a country or sector fund in the New Year (see Finally a New Airline ETF Prepares to Take Off). Two similar ETFs will launch within a one month window You know when Hollywood launches two similar movies pretty close together ( White House Down and Olympus Has Fallen or A Bug’s Life and Antz back in the day)? Well, the ETF industry likes to do that too, putting out funds that target pretty much the same area within a few weeks of each other. The idea is to dilute the first-mover advantage (or to race and become the first mover) and I’d look for that trend to continue in 2016 at least once. Wearable ETF hits the market (or at least a filing) Thanks to the ubiquitous nature of Fitbit (FIT) and a boost in interest in all technology connected devices that are ‘wearable’, a number of companies are jumping into this market. As we saw in recent months with cyber security and cloud computing ETFs, I’d expect to see a wearable (ticker WEAR?) before too long, or at least a filing that will get this fund to market eventually. Bitcoin fund finally comes out For quite some time now, there has been a filing in the pipeline for a bitcoin ETF (COIN) from the Winklevoss twins of all people. The first filing was in 2013, an index was launched earlier in 2014, and I think 2016 will finally mark see this idea pass regulatory hurdles as well as the launch of this product which should help to make bitcoins more easily tradable and liquid for the masses, much like what GLD did for gold (read Believe It or Not: Winklevoss Bitcoin ETF on the Horizon ). Price war continues As the ETF space starts to round out, many ETF issuers have launched ‘me-too’ products which target substantially similar segments of the market. The way they differentiate has largely been on the price front and this has forced issuers to slash costs in order to remain competitive. This war has been great for consumers who look to save more money, and I expect to see more fee cuts and price competitive products in 2016 as well. You’ll see more calls of an ETF Bubble… These will be wrong Every couple of months, ETF pundits will write articles or go on TV saying that the end is near for the ETF world and that the category cannot support more products. These predictions have been wrong before and they will be wrong again in 2016. While there are a lot more ETFs than there were a few years ago, there is still plenty of more sector specific and active ETF opportunities out there, meaning that investors shouldn’t be worried about a bubble again in the New Year either (see Best and Worst ETFs of 2015). Happy New Year and best of luck to fund investors in 2016! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FITBIT INC (FIT): Free Stock Analysis Report PURFDS-ISE CYBR (HACK): ETF Research Reports ISHARS-R 2000 (IWM): ETF Research Reports SPDR-FS SELS (XLFS): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports GUGG-SP5 EQ ETF (RSP): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Your first trade for Wednesday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)while Brian Kelly was a buyer.
Dan Nathan was a buyer of Twitter(TWTR).
Peter Najarian was bullish on Viacom(VIAB), a name he highlighted as a stock which could soon be aligned for stratospheric returns.
Trader disclosure: On January 19, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, IWM, JCP, JPM, KO, LGF, RL, T, TWTR. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. Pete Najarian is long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls AAL, BAC, BX, CHS, GE, GDX, HAIN, LC, MSFT, NRF, WMB, WYNN, XBI, YDKN, he is long puts FCX, MRO. Dan Nathan is long WMT Feb Put Spread, long PFE buy-write, long VZ Buy-write, long XLU Feb Call Spread, long QCOM Feb Calls, long UUP, long TWTR, long TLT Apr risk reversal; he is short SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, HSBC, SPY, Yuan.
SunTrust Managing Director Robert Peck: Firm makes a market in Netflix.
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• Personal Finance || Here's a sign that PayPal is embracing Bitcoin: PayPal was the hot new thing in payments when it launched in 1998, but in the era of digital currency, crowdfunding, micro-crowdfunding, and peer-to-peer lending, most people no longer see the company that way. So its newest board appointment is an effort to embrace the new landscape in digital payments.
To that end, PayPal (PYPL) has named Wences Casares to its board of directors, the company announced on Wednesday. Casares is founder and CEO of Xapo, a wallet provider for the digital currency bitcoin, and before Xapo he founded Lemon, another digital wallet company. He is an unusual addition to a board that includes executives from AT&T (T), the American Red Cross, Enzon Pharmaceuticals (ENZN), and eBay (EBAY) cofounder Pierre Omidyar.
It's likely a sign that PayPal is ready to embrace bitcoin and its technology. That's especially interesting considering that it is a company some bitcoin entrepreneurs often point to as "Web 1.0" and too slow because of its transfer delays and fees. One of the biggest selling points of bitcoin is the ability to send money to another country with little or no delay, and a fractional fee.
"We’ve entered a period of unprecedented disruption in payments and financial services driven by the mass adoption of mobile technology and the digitization of cash," said PayPal CEO Dan Schulmanin a statement. "Wences’ long and successful track record as international fintech entrepreneur with a focus on next-generation payment and crypto-currency is a perfect fit for PayPal at this time." PayPal declined to comment beyond the press release.
Casares does not come without controversy. He is a serial entrepreneur who founded an Argentinian brokerage in 1997 and sold it to Banco Santander in 2000 for $750 million. Then he founded a Chilean videogame developer in 2002 and sold it to Activision (ATVI) in 2006. But he is currently being sued by LifeLock (LOCK), a $1.3 billion public company that offers online-identity protection.
In December 2013 LifeLock acquired Casares's company Lemon for $42.6 million. In a lawsuit filed in August 2014, LifeLock says Casares built and launched Xapo, his current company, while working at Lemon, "developed by Lemon employees, in Lemon’s facilities, on Lemon’s computers, and on Lemon’s dime.” Casares and four Xapo employees (each of whom previously worked at Lemon) are named as defendants in LifeLock's suit. The company wants him to pay back “the value of the Xapo product attributable to Defendants’ misrepresentations, omissions, breaches of duty, and other wrongful conduct.” It does not specify an amount it is seeking, but assessing damages would involve placing a value on Xapo.
Meanwhile, Casares has fought back, filing a cross-complaint of his own this past July, alleging poor management by LifeLock. (And LifeLock itself was forced to pay a $12 million fine to the FTC this past summer for false advertising of its product.) Some in the bitcoin community believe that LifeLock is upset that it overpaid for Lemon, while Casares has moved on to Xapo, which has raised $40 million in venture capital and might have more promise than Lemon ever did.
What does all of this legal drama have to do with PayPal? Perhaps nothing—but if Casares is found guilty of the civil fraud that LifeLock alleges, it would be bad for not just Xapo, but now PayPal as well. Moreover, Fortunereported last yearthat some of Xapo's investors are angry that they were never made aware of the ongoing litigation against Casares.
So PayPal has taken a risk in appointing Casares to its board, not only because of his current legal situation, but on a broader scale it has more strongly associated itself with bitcoin, an industry that is not without its negative headlines. (Just this week, Ross Ulbricht, the mastermind of Silk Road, the online drug marketplace that used bitcoin as its form of payment, appealed his recent life sentence.) Just over one year ago, PayPal made partnerships with some prominent bitcoin startups, like BitPay and Coinbase, but the noise of that move has since died down.
PayPal now might want to explore a larger form of implementation around bitcoin, or it is intrigued by its underlying technology, the bitcoin blockchain, a public, decentralized ledger that records every single bitcoin transaction. Financial heavyweights like JPMorgan and Nasdaq have both expressed interest in harnessing the blockchain.
Or maybe PayPal wants to buy Xapo. || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. "To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers
NEW YORK, NY / ACCESSWIRE / January 29, 2016 /Coin Reverse Inc. (http://www.coinreverse.com) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC.
CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier.
CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse.
"In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager.
Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy.
Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer.
All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website:http://www.coinreverse.com.
No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy.
For more information about us, please visithttp://coinreverse.com.
Contact Info:
Name: Tom JunoOrganization: Coin Reverse Inc.Address: 1370 Broadway, 5th FloorPhone: (315) 210-8349
SOURCE:Coin Reverse Inc.
[Random Sample of Social Media Buzz (last 60 days)]
#RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000004 Average $1.8E-5 per #reddcoin 11:00:02 via #p…pic.twitter.com/nMPc4gZplt || Current value of DOGE in BTC: BTER: 0.00000032 -- Volume: 11318159.906 Today's trend: down at 01/02/16 00:55 || Current price: 380.08$ $BTCUSD $btc #bitcoin 2016-01-28 00:20:08 EST || Current price: 420.54€ $BTCEUR $btc #bitcoin 2015-12-18 23:00:03 CET || #UFOCoin #UFO $ 0.000008 (-3.53 %) 0.00000002 BTC (-0.00 %) || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $1,090.00 #bitcoin #btc || $377.60 at 02:00 UTC [24h Range: $372.95 - $380.42 Volume: 2467 BTC] || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $1.7E-5 per #reddcoin
06:00:19 || 1 #BTC (#Bitcoin) quotes:
$456.00/$456.37 #Bitstamp
$450.60/$450.82 #BTCe
⇢$-5.77/$-5.18
$455.65/$455.69 #Coinbase
⇢$-0.72/$-0.31 || BTCTurk 1305.1 TL BTCe 437 $ CampBx $ BitStamp 442.15 $ Cavirtex 614.00 $ CEXIO 444.18 $ Bitcoin.de 406.57 € #Bitcoin #btc
|
Trend: up || Prices: 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-01-16]
BTC Price: 3655.01, BTC RSI: 44.09
Gold Price: 1291.60, Gold RSI: 66.21
Oil Price: 52.31, Oil RSI: 56.44
[Random Sample of News (last 60 days)]
Crypto Hedge Fund Manager Disputes Augur Metrics of $2 Mln, Claims Only $100,000 at Stake: Blockchain-based prediction marketAuguris reportedly significantly overestimating its usage, a founding partner ofcryptocurrencyhedge fund Tetras Capitalclaimedon social media on Jan. 10.
The latest criticism of the project, Alex Sunnarborg took Augur to task following publication of its most recentweekly reportshowing the amount of money circulating within its markets.
Specifically, the report claims around $2 million is currently involved in wagers set up by users. Sunnarborg, however, notes the figure includes wagers which have already closed.
“Augur metrics showing ~$2 (million) ‘total money at stake’ include markets that have already ended,” he tweeted, adding:
“If we exclude markets that have ended there is (less than $100,000) total money at stake on Augur.”
The largest wager still active is a bet on the market cap ofEther(ETH) overtaking that ofBitcoin(BTC) by the end of this year.
As Cointelegraph reported, cryptocurrency figures have pointed out an apparent discrepancy in Augur’s user numbers versus the amount the company raised in its 2017 initial coin offering (ICO).
In ablog postlast month, Bitcoin developerJimmy Songalleged that based on an average daily user base of just 25, each participant was worth $3.65 million of the ICO market cap.
“Amazingly, this is one of the success stories for an altcoin/ICO!” Song commented, while noting that Augur had produced better results than other ICO projects whichfailedto bring a product to market.
At the same time, the CEO of cryptocurrency trading platformBitMEXforecast arenaissancefor ICOs within the next 18 months, countering the 2018 bear market which saw some tokens lose more than90 percentof their value.
• Jimmy Song Highlights Decentralization as Key to Success of Bitcoin Over Altcoins
• Hodler’s Digest, Dec. 24–30: Top Stories, Price Movements, Quotes and FUD of the Week
• Google Reportedly Blacklists ‘Ethereum’ as a Google Ad Keyword, Startup Claims
• Ethereum Classic 51% Attackers Allegedly Returned $100,000 to Crypto Exchange || 2 Sets of Disasters Biotech Will Pay For in 2019: This has been another thrilling year for the biopharmaceutical industry. Amazing clinical-trial results, landmark drug approvals, and big acquisition announcements helped the Nasdaq Biotechnology index rise 14% from the beginning of 2018 through the end of September. Since then, though, the same basket of biotech stocks has fallen 16%, and investors are justifiably concerned about the year ahead. Here's how a couple of industry trends that started in 2018 will probably play out in the year ahead. A businessperson looking through a window with a pair of binoculars. Image source: Getty Images. Commercial flop fallout In the last half of 2017, the Food and Drug Administration (FDA) approved three new therapies that accomplish tasks physicians wouldn't have dreamed possible several years earlier. EvaluatePharma 's a relatively conservative independent source of industry analysis that publishes an annual look forward, and all three of these treatments missed expectations that they announced in late 2017 by a mile. Company (Symbol) New Therapy Previous 2018 Sales Estimate Sales Through First Nine Months of 2018 Gilead Sciences, Inc. (NASDAQ: GILD) Yescarta $305 Million $183 Million Novartis AG (NYSE: NVS) Kymriah $134 Million $48 Million Spark Therapeutics, Inc. (NASDAQ: ONCE) Luxturna $76 Million $15.6 Million Data source: Company filings and EvaluatePharma. Luxturna is a one-time injection that prevents patients with a certain genetic mutation from losing their eyesight. It also costs $425,000 per eyeball, and insurers haven't been as enthusiastic about reimbursement as analysts had hoped. Luxturna also is Spark's first drug, and independent launches tend to flop more often than those backed by industry giants. That's why all eyes will be on Zolgensma, a one-time gene therapy for spinal muscular atrophy (SMA) that Novartis is widely expected to launch in early 2019. The treatment formerly known as AVXS-101 will go toe-to-toe with Spinraza, which requires lifelong injections and has already become a blockbuster . Since we already know the SMA indication can generate big numbers, enthusiasm for the entire gene-therapy space will dwindle if Novartis can't make Zolgensma work for its bottom line. Yescarta and Kymriah are both chimeric antigen receptor T-cell (CAR-T) therapies, which means they're essentially bags of a patient's own immune cells that have been trained to spot a target often found on cancer cells. These CAR-T therapies have given patients previously considered untreatable a surprising new chance at long-term survival, but sales have been disappointing. Story continues The fallout from these commercial flops will have a huge effect on biotech dealmaking in 2019. Gilead shelled out $12 billion for Kite Pharma in 2017 to get its hands on Yescarta, and the odds of Gilead realizing a return on that investment are getting slimmer. Yescarta and Kymriah both aim for the same target, CD19, and Nature Reviews Drug Discovery counted 75 potential new CD19-directed treatments in clinical trials in October. The pace of competition also appears to be quickening. In early 2017, bluebird bio (NASDAQ: BLUE) reported stunning data for a candidate directed against BCMA, a multiple myeloma target that hadn't received a great deal of attention yet. In October 2018, researchers found 20 candidates in clinical trials directed against BCMA, which was twice as many as they found a year earlier. Dismal commercial performances combined with incoming competition means you probably shouldn't expect many start-ups based on CAR-T and related technologies to sign lucrative partnership deals in 2019 and, perhaps, beyond. Kid making a mess with a science experiment standing in front of a blackboard with science and math symbols. Image source: Getty Images. Proof-of-concept flop fallout Keytruda and Opdivo are PD-1 checkpoint inhibitors that make it hard for tumors to hide from the immune system. These drugs are highly effective for a limited cross section of patients, and in 2018, huge sums were lost chasing efficacy-boosting combinations that looked great in single-arm early-stage clinical trials. Earlier this year, epacadostat became the first big domino to fall once it was compared to standard care in a controlled trial, and it was followed by additional disappointment . In a nutshell, we learned the hard way that successful results for small, single-arm studies can be deceiving. The U.S. clinical-trial database lists nearly 900 clinical trials for Keytruda alone, and in hindsight, we probably should have expected some false positives. In the year ahead, companies that have vaulted to nosebleed valuations without any human proof-of-concept data probably won't find collaboration partners or a market that's easily impressed. A higher bar for proof-of-concept data means high-flying start-ups such as CRISPR Therapeutics AG (NASDAQ: CRSP) will probably have more to lose than gain in 2019. Crispr Therapeutics already boasts a $1.7 billion market cap despite no evidence its treatments are safe or effective for humans yet. In the year ahead, it's probably best to watch Crispr and every other high-value biotech that are developing complex and unproven new treatments from a safe distance. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauer owns shares of Gilead Sciences. The Motley Fool owns shares of and recommends Bluebird Bio and Gilead Sciences. The Motley Fool owns shares of CRISPR Therapeutics. The Motley Fool has a disclosure policy . View comments || E-mini S&P 500 Index (ES) Futures Technical Analysis – Renewed Pressure Could Drive Market into 2419.75 to 2395.50: March E-mini S&P 500 Index futures finished lower on Friday on late session profit-taking ahead of the week-end, Monday’s holiday shortened session and Tuesday’s bank holiday. Heightened volatility continued to be the highlight of the session. There were no changes in the fundamentals so all of the price action was likely fueled by technical factors and value investors responding to grossly oversold conditions.
On Friday,March E-mini S&P 500 Indexfutures settled at 2486.00, down 9.00 or -0.36%.
The main trend is down according to the daily swing chart. However, momentum has been trending higher since the formation of the closing price reversal bottom on December26 and the subsequent confirmation the next session.
The main trend will change to up on a trade through 2690.50. A move through 2316.75 will negate the closing price reversal bottom and signal a resumption of the downtrend.
From the top down, the main range is 2819.00 to 2316.75. Its retracement zone at 2568.00 to 2627.25 is the primary upside target.
The intermediate range is 2690.50 to 2316.75. Its retracement zone at 2503.75 to 2547.75 provided resistance on Friday.
The short-term range is 2316.75 to 2523.00. Its retracement zone at 2419.75 to 2395.50 is the primary downside target.
Based on Friday’s price action, the direction of the March E-mini S&P 500 Index on Monday is likely to be determined by trader reaction to the 50% level at 2503.75.
A sustained move over 2503.75 will indicate the presence of buyers. The first target is Friday’s high at 2523.00. Taking out this level will indicate the buying is getting stronger with the next target the Fibonacci level at 2547.75, followed closely by the main 50% level at 2568.00.
Since the main trend is down, any rally is likely to be labored. So look for fresh selling pressure to come in on a test of each retracement level.
A sustained move under 2503.75 will signal the presence of sellers. The daily chart is wide open under this level so don’t be surprised by an acceleration to the downside. If sellers come in hard then look for a possible break into the short-term retracement zone at 2419.75 to 2395.50.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/12/18
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/12/18 || BitPay COO Sonny Singh: Bitcoin Could Hit $15-20K by End of 2019: The Chief Commercial Officer (COO) of globalcryptopaymentprocessorBitPayhas ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019. The COO, Sonny Singh, made his forecast during aninterviewwith Bloomberg Nov. 22.
In the midst of a bearish market picture – with Bitcoin down over32 percentin value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such asFidelityandIntercontinental Exchange(ICE) start to launch their crypto-based investment products next year.
The financial giants’ entry into the space could catapult Bitcoin’s price to as high as $15,000-$20,000 by the end of 2019, Singh told reporters.
Aside from traditional financial incumbents’ launch of crypto-based products, Singh pointed to structural changes in the crypto market itself, with stalwart companies such asU.S.crypto exchange and wallet providerCoinbaseand crypto bank Silvergate gearing up forpossibleinitial public offerings (IPOs).
Singh forecast that next year would therefore herald an “exciting” moment: the launch of a crypto-based exchange-traded fund (ETF) by a “Blackrock-type” company or a Fidelity product will energize the space as traditional players jostle for market dominance against “the Bitpays and Coinbases” of the sector.
Singh nonetheless drew a firm distinction between Bitcoin and altcoins, arguing that:
“There’s a night and day difference between Bitcoin and everything else. Bitcoin is the under pound gorilla, it’s the one that has the mass network effect… [the one] the traditional financial incumbents are building products around. Other [crypto assets] […] I don’t know what’s going to happen to them.”
Remarking that “theICOmarket is pretty dead right now,” Singh also suggested thatsignsof increased intervention from the U.S. Securities and Exchange Commission (SEC) does not bode well for the future of the token space.
In an interview this September, Singhoutlineda broadly similar argument that the crypto markets are on the threshold of a certain “defining moment,” which will come with big institutional investor market entry, set to “become real” in 2019.
• Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000
• Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week
• Crypto Venture Capital Exec Compares Bitcoin to Post Dot-Com Bubble Amazon
• Amidst Recent Market Crash, Susquehanna ‘Crypto King’ Emphasizes Crypto Is a ‘Long Game’ || Google Boots Four Malicious Crypto Apps from Play Store: google play crypto Despite attempts to weed out fake cryptocurrency apps on the Android marketplace, the war is far from being won. Cybersecurity researcher Lukas Stefanko recently came across four fake crypto apps in the Google Play Store that impersonated Ethereum wallet MetaMask, as well as the Tether and NEO cryptocurrencies. According to Stefanko, the apps have been on the Android marketplace for weeks now and had been downloaded several hundred times. The apps were removed from the Google Play Store as soon as they were reported. ‘Phishing’ Expedition Stefanko identified the MetaMask app as a phishing application intended to harvest the private key and the wallet password of the user. The rest were fake wallets which when launched were intended to dupe users into thinking that a public address had already been generated when it had not. This was with the intention of leading the user to send funds to the wallet, whose private keys are owned by the creator of the fake wallet. Once sent, the user cannot withdraw these funds since they don’t own the private keys. Per Stefanko, the fake wallets were created using an app builder service that requires little or no coding skills. With such a low barrier of entry, Stefanko warned, the problem of malicious cryptocurrency apps is likely to continue to get worse. “That means that – once Bitcoin price rises and starts to make it into front pages – than [sic] literally anyone can “develop” simple but effective malicious app either to steal credentials or impersonate cryptocurrency wallet,” wrote Stefanko in the blog post. Chrome Web Store Besides malicious apps on the Google Play Store that the online search giant has had to constantly take down as new ones come up, Google has also experienced similar problems on the marketplace of its Chrome browser. Early last month, Google announced a ban on browser extensions that possess crypto mining capabilities. Google Bans Obfuscated Chrome Extensions to Cryptojackers’ Woe https://t.co/wBx7x0K8xV — CCN (@CryptoCoinsNews) October 3, 2018 Prior to the move, the Chrome Web Store only required developers to explicitly inform users that it was a crypto mining script for such apps to be accepted. This was, however, largely ignored by developers as Google revealed earlier this year that around 90 percent of all the extensions that contained crypto mining scripts had failed to comply with the set policies. Story continues As Google revealed at the time, identifying the offending apps was aided by machine learning: “We’ve recently taken a number of steps toward improved extension security with the launch of out-of-process iframes, the removal of inline installation, and significant advancements in our ability to detect and block malicious extensions using machine learning.” Featured Image from Shutterstock The post Google Boots Four Malicious Crypto Apps from Play Store appeared first on CCN . || Week 2: How the Bitcoin Cash “Hash War” Came and Went and Not Much Happened: In what may well have been the most watched cryptocurrency event of 2018, Bitcoin Cash two weeks ago “hard forked” (split) into two different coins. The “big block” project that itself forked away from the Bitcoin blockchain in August 2017 fragmented into “Bitcoin Cash ABC” (BCHABC) and “Bitcoin Cash SV” (BCHSV).
In this third and final overview: the main takeaways and latest developments of the second week since the Bitcoin Cash split.
The Bitcoin Cash split drew as much attention as it did in part because Bitcoin SV proponents had announced a “hash war.” Where previous “coin splits” were relatively peaceful — both sides of the respective disputes went their own way — nChain chief scientist and Bitcoin SV frontman Craig Steven Wright threatened that miners would 51% attack a potential Bitcoin Cash ABC chain out of existence.
But as the coin forked and the world watched, nothing irregular happened. Possibly because Bitcoin Cash ABC proponents brought in additional hash power to secure their chain, and because the Bitcoin ABC development team implemented checkpoints, no 51% attack took place.
One day after the split, WrightsaidBitcoin Cash SV miners would instead maintain an “endurance attack.” If and when more miners left the Bitcoin Cash ABC network, the 51% attack(s) would commence. For well over a week, both chains did attract more hash power than their respective block rewards warranted, suggesting that miners were losingmillions of dollarsin a seemingly pointless “hash power race.”
However, by the beginning of this week — some 10 days after the split — CoinGeek published apress releaseannouncing support for a permanent split. As the publication is owned by online gambling tycoon and major Bitcoin SV miner Calvin Ayre, this declaration was considered an “official” end to the hash war.
Technical director of the Bitcoin SV project Steve Shadders even committed to implementing replay protection (ensuring that users don’t accidentally spend coins on both chains), while Ayre acknowledged he would let go of the name “Bitcoin Cash” and ticker “BCH” and instead adopt “Bitcoin SV” and “BSV.” Hash power on both coins hasdroppedsignificantly since (with Bitcoin Cash ABC still ahead).
The two coins will now compete with one another and the market, as all cryptocurrencies do.
Both Wright and Ayre took the stage at the CoinGeek Week Conference in London this week. Here, Wright proposed a plan totransform the internetthrough Bitcoin SV, while Ayre emphasized ininterviewsthat he believes Bitcoin SV is the “original Bitcoin.”
Perhaps more noteworthy, on Friday Satoshi Nakamoto’s oldP2P Foundation accountcuriously became active again. The account followed a person named “Wagner Tamanaha” and posted a mysterious message: “nour” which, according to Google Translate, is Arabic for “light.”
A little later, Wright tweeted “Some seek a world of shadows... We seek a universe of light” and added another tweet in Arabic: “Light is chasing the darkness." While this, of course, proves nothing, and Wright offered no explanation, it’s hard not to interpret the tweets as an attempt to link Satoshi Nakamoto’s identity to his own. (Wright, of course, famously claims to be Satoshi Nakamoto but publicly has only providedfake evidence.)
Also worth noting is that Ayre hadannouncedlast week that he would reveal documents to prove market manipulation which would involve several prominent names in the Bitcoin Cash ABC camp: bitcoin.com CEO Roger Ver, Bitmain co-founder Jihan Wu, Bitcoin ABC lead developer Amaury Séchet and Kraken CEO Jesse Powell. At the time of writing this article, no documents have been revealed, however, and since CoinGeek Week is over it seems unlikely any will be.
At the tail end of the week, Ayre’s CoinGeek didannounceit will be acquired by Squire Mining Ltd.
It is clear by now that both sides of the Bitcoin Cash split will continue as their own cryptocurrencies with their own communities.
Shortly after the split, there was disagreement on the names for the two projects. To some extent there still is, but the projects themselves and most of the industry are now settling on “Bitcoin Cash” and “BCH” for the Bitcoin Cash ABC side of the split, and “Bitcoin SV” and “BSV” for the Bitcoin Cash SV side.
So far, Bitcoin Cash ABC has made it through the split more successfully than Bitcoin SV. Most companies that offered Bitcoin Cash services before the split now offer Bitcoin Cash ABC as “Bitcoin Cash.” A notable exception is blogging platform Yours, which moved to Bitcoin Cash SV. Several of the cryptocurrency exchanges that offered BCH trading now offer both under various tickers.
BCHABC is also doing better price-wise. In the second week after the split, it mostly traded between $150 and $200. BCHSV was trading lower, between $75 and $100 — though that is a lot higher than during the first week after the split. As such, the price difference between the two coins has shrunk.
This week, Bitcoin SV made its “official” debut on coin-ranking sites likeCoinMarketCap, entering the charts as a top-10 coin. At the time of writing, BCHSV holds ninth position, but it briefly peaked to seventh. BCHABC, meanwhile, had difficulty maintaining the fourth position that Bitcoin Cash used to occupy; at the time of writing, it has dropped to the fifth spot.
Perhaps a noteworthy hiccup, cryptocurrency exchange Poloniexexperiencedwithdrawal issues with BCHABC and BCHSV. It’s unclear what caused the issues, and they were resolved within adayortwo.
And, as one last interesting detail, MMA fighter Rory MacDonaldtweetedto his 235,000 followers that “bitcoin SV is bitcoin.”
For more background on the split, see “When the Fork Forks: What You Need to Know as Bitcoin Cash Goes to War.” Also see thefirstandsecondoverview articles, covering the first day and the first week after the split, respectively.
This article originally appeared onBitcoin Magazine. || GMO Had a Plan to Take Down Bitmain; Now It’s Bidding Bitcoin Mining Goodbye: More than a year after launching an in-house mining business, Japanese internet conglomerateGMO Internethas announced that it will no longer, develop, manufacture, or sell cryptocurrency mining equipment.
In astatement, the Japanese tech firm disclosed that the decision was prompted bychallenging business conditionswhich resulted in an “extraordinary” consolidated quarterly loss totaling 35.5 billion JPY (approximately US$320 million).
According to GMO Internet, the firm’s mining business has been made untenable by the fall in cryptocurrency prices which consequently led to a drop in demand for the mining rigs. In an increasingly competitive environment, the Japanese tech firm was forced to cut the selling prices of the mining machines, a move that resulted in reduced profitability.
However, the reduced prices did not spur more sales, and GMO Internet’s mining share failed to rise as expected as a result of an increase in the global hash rate:
After taking into consideration changes in the current business environment, the Company expects that it is difficult to recover the cryptocurrency-mining-business-related assets through selling mining machines, so the Company has decided to stop the development, manufacture, and sales of mining machines, thereby recording an extraordinary loss.
GMO Internet initially announced its foray into the cryptocurrency mining business last year in September, as CCNreported. The firm’s CEO later boasted that it wouldsupplantBitmain, the world’s largest cryptocurrency mining firm.
While GMO Internet will cease developing and manufacturing cryptocurrency mining rigs, it will continue with the in-house mining business. With electricity compromising a majority of the operating expenses, the Japanese internet conglomerate will move the mining operation to a locality with cheaper power supply. GMO Internet’s in-house mining business also recorded an impairment loss of 11.5 billion Japanese yen (approximately US$104 million).
Another manufacturer of mining rigs who has been negatively impacted by the downturn in cryptocurrency prices is the Jihan Wu-led Bitmain. As CCN reported earlier this week, the bitcoin mining giant intends tolay off nearly 50% of its employees. Preliminary reports indicated that the employees who will be laid off had been served with a one-week notice.
Earlier this month, Bitmain also reportedlyshut down a development centerit had established in Israel known as Bitmaintech. Estimated to be 23, none of the employees at the center including the head, Gadi Glikberg, were spared from the layoffs.
As noted by CCN, the decision by Bitmain to cut costs by scaling back could have been prompted by the losses it suffered after the “hash wars” it engaged in as part of the Bitcoin ABC camp against the Bitcoin Cash Satoshi Vision (SV) Camp led byCraig Wrightand Calvin Ayre.
Featured Image from Shutterstock
The postGMO Had a Plan to Take Down Bitmain; Now It’s Bidding Bitcoin Mining Goodbyeappeared first onCCN. || Google Play Forces Crypto Wallet Samourai to Remove Security Features: Crypto wallet Samourairemoved security features introduced in its latest app update after Google Play found them in conflict with its “store policies.”
The app’s Twitter handle confirmed that it has disabled features called Stealth Mode, Remote SMS, and SIM Switch Defense. A separateblog postaccused Google Play of being extremely restrictive to become a “walled garden,” an internet slang reserved for web services that practice excessive control.
“We applied for an exemption with Google months ago, which was rejected days ago, despite our argument that removing such functionality would cause users who rely on those features to be less secure and more exposed,” wrote Samourai.
The company also claimed that it had provided Google officials the evidence of its SIM Switch Defense feature which alerted users of SIM swap attacks the moment hackers attempt them. Samourai said:
“It made us very proud that our little feature was protecting users from the horrible OpSec of network carriers which allow SIM Swap attacks to occur. Google does not care about any of this, however, and Samourai Wallet would have been removed from the Google Play Store had we not complied with this dictate.”
Also, the removal of the Samourai Stealth Mode feature raised plenty of doubts concerning the new Google policies. The feature, according to the company, could have allowed users to hide their crypto wallet app from home screen and launcher. Many apps on the Play Store allow users to hide apps similarly upon users’ approval.
The Remote SMS feature, also reminiscent of dozens of anti-theft applications on Google Play, has been ordered out of the Samourai crypto wallet.
“Remote SMS Commands allow users who lost their device to remotely erase their Bitcoin Wallet to prevent further loss of their Bitcoin stash,” the company tweeted. “Google Play has killed that as well.”
Samourai announced that it would start distributing its crypto wallet app via self-hosting and by listing it on the F-Droid app store – as alternatives to Google Play.
“These versions will all include the Stealth Mode, Remote SMS, and SIM Switch Defense features,” the company confirmed.
CCN has contacted Samourai for more details on the concerned Google Play policies. Kindly tune back for more updates.
Featured image from Shutterstock.
The postGoogle Play Forces Crypto Wallet Samourai to Remove Security Featuresappeared first onCCN. || Crypto Markets See Flush of Green as Bitcoin Moves Closer to $5,600: Sunday, Nov. 18: after a tumultuous week, the crypto markets are today signalling recovery, with most of the top ten cryptocurrencies seeing healthy growth of within a 1 to 7 percent range, and the vast majority of the top 100 crypto assets by market cap in the green, as data from Coin360 shows. Market visualization by Coin360 Market visualization by Coin360 After a steep decline Nov. 14, Bitcoin ( BTC ) is today showing signs of gentle growth, consolidating its incremental gains in recent days to push the $5,600 price point. As of press time, the leading cryptocurrency is trading at $5,595 , up around 0.9 percent on the day, according to CoinMarketCap. After an brief plummet to $5,371 Nov. 16 — $1.000 dollars lower than its value just two days earlier — Bitcoin has slowly traded sideways and upwards over recent days. While many have attributed this week’s market tumble to the impact of the contentious Bitcoin Cash ( BCH ) hard fork Nov.15, some Bloomberg analysts even have gone so far as to forecast that the hard fork fallout, coupled with the “enduring [crypto] bear market,” could mean Bitcoin might tumble as low as $1,500. Nonetheless, a Twitter poll Nov. 15 from former U.S. Congressman Ron Paul saw the majority of respondents — 50 percent — picking Bitcoin as their preferred “store of value” if they had to invest $10,000 over the next decade in any given asset (the other options being Federal Reserve Notes, gold, or U.S. 10-year treasury bonds). On the week, Bitcoin is a stark 12 percent in the red; monthly losses are pushing 14.5 percent. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ripple ( XRP ) is up 7.3 percent on the day, trading at $0.517 to press time. On Nov.15, Ripple dislodged Ethereum ( ETH ) again from the latter’s stalwart spot as largest altcoin by market cap. Today, with a burgeoning market share of $20.8 billion — as compared with Ethereum’s $18.2 billion — the newly-crowned alt is continuing its strong performance, and has now reversed any losses that were incurred during the market-wide fall Nov. 14 (Ripple was valued at $0.511 Nov. 14). Story continues On the week, Ripple is 3.4 percent in the green, with monthly growth at 14.6 percent. Ripple 7-day price chart Ripple 7-day price chart. Source: CoinMarketCap Ethereum ( ETH ) has seen mild growth and is up 1.3 percent on the day to trade at $175. As of Nov. 14, Ethereum’s losses have been even more drastic than Bitcoin’s, with the altcoin now down over 16 percent on its weekly chart. Having seen more volatility overall on the month, the altcoin’s losses on the month are at 15 percent; Ethereum’s intra-month high was over $221 Nov. 7, with a low of just under $173 Nov. 17. Ethereum 1-month price chart Ethereum 1-month price chart. Source: CoinMarketCap Most of the remaining top ten coins on CoinMarketCap are in the green, seeing growth of within a 1 and 5 percent range. The notable exception is Bitcoin Cash ( BCH ), which is down 2.1 percent to trade at $383.2, as the aftermath of its controversial hard fork continue to bear price ramifications. After Ripple, Stellar ( XLM ) is the strongest-performing top ten alt, seeing a solid 4.55 percent gain to trade at $0.25 on the day; anonymity-oriented alt Monero ( XMR ) is also up a strong 3.5 percent at $89.04. The remaining coins in the top twenty by market cap unanimously green, mostly seeing growth capped within a 3 percent range. The 19th largest crypto — another privacy-focused alt, Zcash ( ZEC ) — is seeing above-average growth of 6.2 percent, and is trading at $113.18 at press time. Total market capitalization of all cryptocurrencies is around $186 billion as of press time, up from an intra-week low at around $175 billion Nov. 15, but almost 12 percent down from $211 billion at the start of its weekly chart. 7-day chart of the total market capitalization of all cryptocurrencies 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap Related Articles: Crypto Markets See Mixed Signals After Recent Downturn After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 14 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 12 || Crypto Firm Galaxy Digital is Losing an Average of $15 Million every Month: Galaxy Digital Holdings LP, the cryptocurrency merchant bank founded by prominent crypto investor Mike Novogratz, announced losses totaling $41 million for Q3 2018, bringing the total losses for the year so far to $136 million.Bloombergreports that the Q3 loss was driven by net realised and unrealised losses on digital assets, chiefly caused by losing positions ofEther,XRP, andBitcoinin a persistently bearish year for the cryptoasset category.
While it is no secret that 2018 has generally been abad yearfor cryptocurrency traders, the financial report by Galaxy Digital provides a rare window of insight into just how affected crypto traders have been by depressed and falling asset prices that have persisted throughout the year.
Earlier in the month, CCNreportedthat Novogratz expressed frustration at the current market situation, stating that trying to build a crypto-focused business amidst the carnage “sucks.” According to him, Galaxy Digital faces a completely different set of challenges to a conventional merchant bank, chief of which is that every downward price spike acts as an existential threat to the business and has staff looking over their shoulders.
After losing $134 million in Q1 2018, the company posted an improved performance report in Q2 2018, recording a net income of $35 million and trading losses cut to just $1.5 million. The latest figures, however, show that the company’s position is still far from great, with Q4 figures expected to be even worse following the market rout that has taken place over the past month.
Speaking in its filing, the company identified solid trading volumes and increased competition for arbitrage opportunities as the principal reasons for its poor Q3 performance. It also revealed that the fair value of its digital asset holdings stands at $90.6 million net of short positions, significantly less than the $172 million that the assets cost.
An excerpt from the report reads:
“While we continue to improve and strengthen our trading business, lack of overall trading volume in cryptocurrencies has been a headwind.”
Galaxy Digital’s shares are currently trading at an all-time low after tanking 55 percent in November, but founder Novogratz continues to be bullish on cryptoassets, stating recently that he expects 2019 to see a movement of institutional investors away from crypto funds and into direct crypto investment. He alsopredictedthat 2019 will see bitcoin achieving a record high of $20,000 on institutional FOMO (fear of missing out), after ending 2018 on a high at $9,000.
Featured Image fromBIG Crypto/Ethereal Summit/YouTube
The postCrypto Firm Galaxy Digital is Losing an Average of $15 Million every Monthappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
De huidige prijs van Pundi X (NPXS) is $0.00 (0.0000001435 BTC), deze is 2.18% gestegen in de laatste 24 uur. NPXS heeft een marktaandeel van $86,108,573, een totale voorraad van 155,102,602,409 NPXS en staat op positie 53. #NPXS $NPXS #Pundi X #cryptohttps://coinstat.nl/nl/crypto-currencies/pundi-x-npxs-live-streaming-prices-and-market-cap/ … || Spin to win satish
https://t.co/BYaQtUFAQM
#bitcoin #BitcoinCash #Satoshi #earnmoney #BTC #videos #YouTubers #YouTuber #YouTuberになって稼げる月収 #smallyoutuber || New post in BitcoinTrade: Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin: Price Analysis, Nov. 28
<img src= https://t.me/Crypto_Traders_info/48314 … || Have you looked at the BLX on trading view to look at the 8 year history of BTC? I think 3k is our bottom honestly. Based on several factors. || 最もBTC/JPYの取引量が多いのは？(2018-11-23 15:00:04 現在)
Liquid 46669.240384
bitFlyer 15175.833210
bitbank 3582.053500
coincheck 3342.701762
BITPoint 1178.311577
Zaif 1176.698300 || BTC
三尊形成中です。
50万円のレジスタンスは下落時にも強く意識された抵抗線です。
時間足規模のトレンドもまだまだ下優勢。
40万割れまで時間はかかるでしょうが下落余地はあります。
落ちた以上大きく落ちなければ買い圧は生まれません。 || Bitcoin being accepted + Btc atm on all international hub airports would be awesome to start real adoption || Field of #bitcoin dreams
http://fieldbitcoins.com/?ref=oc4wkc7v42549 …pic.twitter.com/FPTvYibKbe || 12/27 07:00 現在のビットコインの価格 BTC/JPY ask: 429,142 / bid: 416,404 || iPhoneの左上の所時間の代わりにビットコイン価格表示されたらいいのに。
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Trend: down || Prices: 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Serena Williams Backs $5M Round in Bitcoin Rewards Startup Lolli: Bitcoinrewards companyLollihas raised $5 million from a cast of notable investors.
Announced Wednesday, Lolli’s pre-Series A round features Serena Williams’ Serena Ventures, her husband Alexis Ohanian’s Seven Seven Six and Night Media, the management company that represents YouTuber MrBeast.
Other investors from the influencer ranks include Casey Neistat, Phil DeFranco, Cody Ko, Noel Miller, Ian Borthwick and Gabriel Leydon.
Related:IBM Ventures Further Into Crypto Custody With METACO, Deutsche Bank Tie-Ups
Last year Lolli raiseda $3 million seed roundled by PathFinder, with participation from Digital Currency Group (CoinDesk’s owner), Michelle Phan and Ashton Kutcher.
Bitcoin is on a bull run and crypto is booming, so firms with a sturdy enough use case to have toughed it through the bear winter are making hay while the sun shines. Lolli, which incentivizes shoppers to go to its partner stores with bitcoin rewards sent to a wallet, now boasts over 1,000 merchants and 250,000 users.
Lolli co-founder Alex Adelman says the company currently offers an average of 7% bitcoin-back rewards at retailers such as Kroger, Microsoft, Booking.com and Ulta. Lolli users have earned more than $3 million in bitcoin rewards to date, Adelman said.
“We started out with the idea of educating people about bitcoin,” Adelman said in an interview. “So we just attached it to something that everybody does: shop. People think about investing when they think about bitcoin, but there’s probably less than 1% of the world that would consider themselves investors. Everybody would consider themselves a shopper.”
Related:Goldman Files to Offer Notes Linked to an ARK ETF That May Have Bitcoin Exposure
The ultimate goal is financial empowerment and financial inclusion, said Adelman, which are also key reasons Serena Williams and her team support Lolli.
“I’m excited to announce my investment in Lolli, a company on a mission to make bitcoin more accessible,” Williams said in a statement. “Earning and owning bitcoin is a step towards financial inclusivity for all people.”
Bitcoin reaching all-time highs recently close to $60,000 is also great news for an app built upon stacking sats.
“They say for a technology to be transformative, you need to be 10 times better than the predecessor,” said Adelman. “Since we launched, bitcoin has gone up by 11 or 12 times, so 10 times better than any cashback program out there.”
• Serena Williams Backs $5M Round in Bitcoin Rewards Startup Lolli
• Serena Williams Backs $5M Round in Bitcoin Rewards Startup Lolli || Bitcoin Briefly Climbs Back Above $50K for First Time in Six Days: Bitcoin pushed above $50,000 early Tuesday for the first time in six days, as the largest cryptocurrency continued to recover from last week’s 21% sell-off.
• Bitcoin(BTC) is trading around $49,444 as of 12:37 UTC (7:37 p.m. ET) and cooling slightly, having risen to a 24 hour high above $50,200.
• The price has gained 6.8% over the previous 24 hours. Bitcoin’s 24-hour range: $45,741.74-$50,213.03 (CoinDesk 20).
• BTC is trading above its 100-hour and 200-hour averages on the hourly chart, a bullish signal for market technicians.
The push past $50,000 came as the Chicago Board Options Exchange’s announced an official filing to list shares of VanEck’sBTC exchange-traded fund.
Trading volume was strong on Monday as bitcoin’s price rose 9.7%, the most in three weeks, according to data from the Bitstamp exchange.
Related:Second Ethereum ETF Filed in Canada
“We have seen an increase in cryptocurrency offerings from the largest investment banks including bitcoin research, custody, trading, and prime brokerage,” said Kyle Davies, co-founder of Three Arrows Capital. “I expect these offerings to grow as global investment banks embrace cryptocurrencies.”
Cryptocurrencies were up across the board alongside bitcoin, withstellar,XRPandetheralso gaining.
The mood was mixed, with some traders expressing caution:
“We’ve seen lots of signs of cooling off in BTC – price decreasing, lower premiums, less volatility,” Sam Bankman-Fried told CoinDesk via Telegram on Monday. “That obviously doesn’t say for sure what will happen in the future though.”
Related:DeFi Protocol SushiSwap's SUSHI Token Hits Record High, Eyes Further Gains
In Asia markets, the ASX All Ordinaries Index is up 0.57%, the Nikkei 225 Index is up 0.61% and the Hang Seng Index is also in the green, up 1.63% on the day.
• Bitcoin Briefly Climbs Back Above $50K for First Time in Six Days
• Bitcoin Briefly Climbs Back Above $50K for First Time in Six Days || Inflation Rate, Closely Tracked by Bitcoin Traders, Probably Accelerated in February: When Federal Reserve Chairman Jerome Powelldownplayedthe threat of rising inflation last week, market participants saw the opposite: The recent rise in 10-year U.S. Treasury-bond yields and so-called breakeven rates – a gauge of inflation expectations – reflects growing enthusiasm over economic growth prospects but also anxiety over the potential for accelerating price increases.
The matter is crucial to bitcoin traders, since the largest cryptocurrency is seen by a growing number of investors as a potentialhedge against higher pricesafter the Fed pumped trillions of dollars of freshly created money into financial markets over the past year, a form of monetary stimulus for the coronavirus-racked economy.
On Wednesday investors will get the latest reading on price pressures when the U.S. Bureau of Labor Statistics publishes its February Consumer Price Index (CPI) report.
• Economists and analysts on average project that the headline CPI probably rose 1.7% over the past 12 months, accelerating from the 1.4% pace reported last month January, according to FactSet.
• The core CPI, which excludes food and energy prices, probably rose 1.4% from a year earlier, the same pace as in January.
• While those rates are still considered low, expectations for future inflation have been on the rise. Consumer inflation expectations for the year ahead have edged up to 3%, the highest since July 2014, based on a February household survey conducted by theFederal Reserve Bank of New York.
• “Inflation risks are skewed to the upside,” according to a Deutsche Bank research report published March 7.
• The rapid rise in inflation-adjusted yields on U.S. Treasury bonds presents risk of an unwanted tightening of financial conditions, which might present a challenge to markets, according to Deutsche Bank: “We see limited scope for the market to further accelerate the timing of monetary tightening for the time being.”
• Inflation Rate, Closely Tracked by Bitcoin Traders, Probably Accelerated in February
• Inflation Rate, Closely Tracked by Bitcoin Traders, Probably Accelerated in February
• Inflation Rate, Closely Tracked by Bitcoin Traders, Probably Accelerated in February
• Inflation Rate, Closely Tracked by Bitcoin Traders, Probably Accelerated in February || Bitwise Asset Management Launches DeFi Crypto Index Fund: What Happened: Bitwise Asset Management announced yesterday the launch of the worlds first DeFi (decentralized finance) crypto index fund. Bitwise is the creator of the largest crypto index fund the Bitwise 10 Crypto Index Fund (OTCQX: BITW ) with over $800 million in AUM. Like the Bitwise 10 Crypto Index Fund, Bitwises DeFi Index fund will track the value of the tokens included in the index, offering investors indirect exposure to the DeFi market. Why It Matters: While the current crypto rally has far exceeded 2017 levels, sending Bitcoin (BTC) and Ethereum (ETH) to new all-time highs, the biggest gainers werent the market-leading cryptocurrencies. https://twitter.com/Bloqbot/status/1357259386310295553 The largest gains belonged to certain DeFi tokens with strong fundamentals, with some returning over 300% since the beginning of the year. Decentralized finance ("DeFi") refers to the emerging category of digital, peer-to-peer financial services technologies that enable trading, loans, interest accounts, and more. Essentially, DeFi services aim to cut out traditional Wall Street intermediaries using public blockchains and crypto assets as opposed to legacy systems. Traditional Finance - Opaque, Siloed, Regional, Rent Seeking, Hierarchical Decentralized Finance - Transparent, Open, Global, Neutral, Grassroots Pick your future. Ryan Watkins (@RyanWatkins_) February 18, 2021 "DeFi is the story of 2021," said Matt Hougan, chief investment officer for Bitwise Asset Management. "Today there are decentralized trading venues handling over $30 billion in volume per month; automated lending programs making individual loans as large as $200 million; and the total estimated value of funds currently locked into DeFi-related contracts recently crossed $40 billion.", he says. Story continues The new fund holds a portfolio of DeFi tokens that power these services, including Uniswap (UNI), Aave (AAVE), SNX, and MKR, which make up over 70% of the index. What Else: Anchorage Digital Bank, which became the first federally chartered digital asset bank in the U.S this January, will serve as the Funds custodian. The fund is available to accredited investors as a private placement and will reportedly seek approvals to be publicly traded like BITW and GBTC (OTCMKTS: GBTC). See more from Benzinga Click here for options trades from Benzinga Bitcoin's On-Chain Metrics Give Traders Mixed Signals Bill Gates Has 'Neutral' Feelings For Bitcoin But Recognizes Value Of Technology © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crypto Daily – Movers and Shakers – March 12th, 2021: Bitcoin , BTC to USD, rallied by 3.44% on Thursday. Following on from a 1.87% gain on Wednesday, Bitcoin ended the day at $57,877.0. It was a mixed start to the day. Bitcoin slid from an early morning high $56,537.9 to a late morning intraday low $54,401.0. Steering clear of the first major support level at $53,612, Bitcoin rallied to a late intraday high $58,266.0. Bitcoin broke through the first major resistance level at $57,901 before falling back to sub-$57,900 levels. The near-term bullish trend remained intact supported by the latest visit to $58,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Thursday. Cardano’s ADA (-0.69%), Polkadot (-4.99%), and Ripple’s XRP (-2.06%) saw red to buck the trend on the day. It was a bullish day for the rest of the majors, however. Crypto.com Coin rallied by 6.61% to lead the way, Binance Coin with rising by 4.14%. Bitcoin Cash SV (+0.04%), Chainlink (+0.81%), Ethereum (+1.75%), and Litecoin (+0.57%) saw relatively modest gains on the day. In the current week, the crypto total market fell to a Monday low $1,508bn before rising to a Thursday high $1,769bn. At the time of writing, the total market cap stood at $1,727bn. Bitcoin’s dominance fell to a Tuesday low 60.13% before rising to a Thursday high 62.57%. At the time of writing, Bitcoin’s dominance stood at 62.35%. This Morning At the time of writing, Bitcoin was down by 0.19% to $57,765.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,159.0 before falling to a low $57,530.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (-1.04%), Cardano’s ADA (-0.18%), Litecoin (-0.02%), and Ripple’s XRP (-0.59%) also joined Bitcoin in the red. It was a bullish start for the rest of the majors, however. At the time of writing, Crypto.com Coin was up by 3.68% to lead the way. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $56,848 to bring the first major resistance level at $59,295 into play. Support from the broader market would be needed for Bitcoin to break out from February’s swing hi $58,321.2. Barring an extended crypto rally, the first major resistance level and resistance at $60,000 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $62,000. The second major resistance level sits at $60,713. Failure to avoid a fall through the $56,848 pivot would bring the first major support level at $55,430 into play. Barring an extended sell-off on the day, Bitcoin should steer clear sub-$54,000 levels. The second major support level sits at $52,983. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Forecast – A Move Out Of The Range Crude Oil Price Forecast – Crude Oil Recaptures Upward Momentum Silver Price Forecast – Silver Markets Stall at 50 Day EMA Crude Oil Price Update – Strengthens Over $66.00, Weakens Under $65.45 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Needs to Hold 32279 to Sustain Momentum Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 12th, 2021 || Riot Blockchain: Riding the Bitcoin Growth Wave: The mainstream adoption of Bitcoin is gathering pace. What was once an unruly asset tagged as fit only for speculators and criminal online activity, has blossomed into a financial instrument coveted by the world’s most prominent investment firms. Companies have been stock piling BTC, and on Monday, Bitcoin surged again after it became apparent Tesla had invested $1.5 billion in the Digital Gold. Surging BTC prices are good news for holders, but they are also a boon for any companies in its orbit. For example, over the past two trading sessions, shares of bitcoin mining company Riot Blockchain ( RIOT ) took off to the tune of 75%. In fact, over the past 12 months, RIOT shares are up by an incredible 2650%. The thing is, assessing any Bitcoin-related companies is complicated by the fact that when the cryptocurrency surges or drops, it has a direct impact on these companies’ valuations. H.C. Wainwright analyst Kevin Dede highlights the issue by noting, “[an] added layer of difficulty faces those attempting to value bitcoin miners.” Faced with Bitcoin’s rising price, the analyst recently adjusted his forecast for RIOT. Dede raised his price target from $7.5 to $28 - yet the stock has surged beyond it now. Dede’s target sits 32% below the current share price. Yet, the 5-star analyst’s rating stays a Buy. (To watch Dede’s track record, click here ) The change to Dede’s Riot model is not only a reflection of the heightened Bitcoin price, but also the company’s growing arsenal to mine it. Riot put in several mining machine purchase orders last year which, by the end of 2021, puts the company on course to have 37,640 machines with the ability to produce 3.8 EH/s (which means 3.8 exahash operations can be completed in one second). By Dede’s calculations, this suggests “Riot alone should be contributing 2% of the overall network hash rate.” Accordingly, the company will be generating more revenue, and for FY21, Dede raised his revenue estimate from $53.3 million to $158.6 million and EPS forecast from $0.26 to $0.70. Story continues Looking further ahead to next year, Dede expects the first full year of Riot's network operation, and which by then will begin at 3.8 EH/s, to offer a “major color change in the valuation painting.” Assuming Bitcoin’ price stays in the $40,000 neighborhood, Dede thinks Riot's sales “could be in the $230 million range, delivering EPS of $1.10 per share.” Some stocks fly under the radar, and RIOT is one of those. Dede's is the only recent analyst review of this company. ( See RIOT stock analysis on TipRanks ) To find good ideas for bitcoin stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy , a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || Market Wrap: Bitcoin Rallies Near $58K, Stocks Soar to Record Highs: • Bitcoin (BTC) trading around $57,572.97 as of 21:00 UTC (4 p.m. ET). Climbing 2.11% over the previous 24 hours.
• Bitcoin’s 24-hour range: $54,323.61-$57,632.81 (CoinDesk 20)
• BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
Thebitcoinmarket is back in bull mode but for one key attribute, almost like a missing tooth: low trading volume.
Bitcoin’s price on Thursday extended its winning streak to a seventh day as a renewed appetite for risk-taking in traditional marketssent U.S. stocks to new record highs. The catalyst was a U.S. government report on Wednesday showing aslower-than-expected inflation ratein February, which assuaged investors’ concerns that fast-rising consumer demand might send prices shooting higher as the economy reheats.
Read more:Beeple NFT Sold for Record-Setting $69.3M at Christie’s Auction
Related:Miner Selling Pressure Declines, Could Fuel Bitcoin Rally, Blockchain Analysis Shows
“Risk sentiment in global markets has been very upbeat in the aftermath of yesterday’s U.S. inflation data,” Joel Kruger, cryptocurrency strategist at LMAX Digital, told CoinDesk. “This has helped to offer additional support to the bitcoin market.”
The one giant asterisk is that spot-market activity has remained muted amid the latest rally, with trading volume on eight major spot crypto exchanges CoinDesk tracks staying relatively flat for more than two weeks.
“There aren’t as many sellers right now after the price was very supported in late February down into the $44,000 area,” Kruger said. “You continue to have buyers, though the buying just hasn’t been as heavy. Overall, that creates upwards pressure.”
Kruger warned that investors should stay cautious in the short term before the Federal Reserve’s meeting next week, when U.S. central bank officials led by Chair Jerome Powell are expected to clarify their latest thinking on monetary policy.
Related:Watch Out for These Risks Before Investing in Bitcoin or Ether
Read more:WisdomTree Files for a Bitcoin ETF
The largest cryptocurrency has been cast by digital-market analysts asboth an inflation hedge and a risky asset, but over the past week the price has just kept going up, seemingly indifferent to the swings witnessed on Wall Street.
“I think bitcoin is going to be sensitive to periods of downturn in stocks right now because it is still a maturing asset and therefore an emerging asset,” Kruger said. “This gives it properties at the moment that are still very much risk correlated.”
Ether(ETH), the second-largest cryptocurrency by market capitalization, was up on Thursday, trading around $1,812.13 and climbing 0.26% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
The correlation between bitcoin and ether is trending downward again after rising for about two weeks starting Feb. 21. Compared with the same time period a year ago, the correlation between the No. 1 and No. 2 cryptocurrencies by market capitalization is slightly weaker, dropping to about 0.74 from 0.94.
Read more:‘Keanu’ Explained: What It Means to Merge Two Ethereum Projects
Yves Renno, head of trading at crypto payment platform Wirex, pointed out that although bitcoin’s share of the overall cryptocurrency markets has climbed over the past couple days, its market dominance currently stands at just 62.3%, down from a recent high around 72% in January.
“Altcoin traders are taking profits and institution cash is still flowing mainly into bitcoin,” Renno said.
Digital assets on theCoinDesk 20are mixed Thursday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• orchid(OXT) + 16.18%
• kyber network(KNC) + 8.74%
• ethereum classic(ETC) + 1.31%
Notable losers:
• cardano(ADA) – 2.09%
• xrp(XRP) – 1.72%
• eos(EOS) – 1.39%
Equities:
• Asia’s Nikkei 225 closed in the green 0.60%.
• The FTSE 100 in Europe closed up 0.17%.
• The S&P 500 in the United States ended higher by 1.04%.
Commodities:
• Oil was up 2.53%. Price per barrel of West Texas Intermediate crude: $66.07.
• Gold was in the red 1.54% and at $1,724.93 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed Thursday and was in the green 1.522%.
• Market Wrap: Bitcoin Rallies Near $58K, Stocks Soar to Record Highs
• Market Wrap: Bitcoin Rallies Near $58K, Stocks Soar to Record Highs || GLOBAL MARKETS-Stocks struggle as tech slide erases commodities surge: (Recasts, adds details, updates prices) * World stocks down 0.1% at fresh 2-week low * Nasdaq futures down 1.5%, S&P 500 futures down 0.5% * Crude oil, metal prices rise on growth outlook * Expectations of faster growth spur inflation fears * Eyes on Fed's Powell testimony at 1500 GMT * Global asset performance:http://tmsnrt.rs/2yaDPgn By Danilo Masoni MILAN, Feb 23 (Reuters) - World shares struggled on Tuesdayas a rally in commodity-related assets gave in to pressure onheavily weighed tech stocks and investors awaited reassurancefrom U.S. Federal Reserve Chair Jerome Powell on the path formonetary policy in United States. European tech stocks were on set for their worst dayin four months, down 2.7%, and futures on the Nasdaq fell1.5% after losses in stocks like Apple and Tesladragged the index down 2.5% on Monday. "The prospect of a less dovish tone from central banks,sparked by rising inflation, is causing stock traders to reducetheir exposure to equities, especially overbought sectors liketech," said Pierre Veyret, analyst at ActivTrades in London. The MSCI world equity benchmark fell 0.1% tofresh two-week lows by 1138 GMT, having earlier risen on gainsin commodity-heavy equity indexes in Asia. S&P 500 futuresalso fell, and were last down 0.5%. Tesla shares were set to plunge into the red forthe year, hit by a fall of bitcoin, in which the electriccarmaker recently invested $1.5 billion. The level of angst was also reflected in equity volatilitygauges which rose to multi-week highs, while on bondmarkets German and U.S. yields moved in different directions,even though both remained just below the highs hit on Monday. After being knocked off from eight-month high by EuropeanCentral Bank chief Christine Lagarde signalling discomfort withthe recent surge in yields, 10-year Bund yieldsresumed their upward trend and were last at -0.297%. Ten-year Treasury yields were steady belowMonday's one-year high of 1.394% and were last at 1.370%. Story continues Fed Chair Powell is expected to be equally reassuring on thecentral bank's dovish stance when he gives his congressionaltestimony at 1500 GMT in Washington. "If there were already any expectations that Powell couldtry to calm down rates, then (Lagarde's remarks) have justfurther cemented them," said Giuseppe Sersale, strategist andfund manager at Anthilia in Milan. Commodity prices strengthened again. Oil prices jumped by more than $1 at one point, underpinnedby optimism over COVID-19 vaccine rollouts and lower output asU.S. supplies were slow to return after a deep freeze in Texasshut in crude production last week. Brent crude was last up 0.7% at $65.7 a barrel afterearlier hitting a fresh 13-month high of $66.79, while U.S.crude rose 0.8% to $62.17 a barrel. "Oil has been caught up in the broader commodities movehigher, with a weaker USD proving constructive for the complex,"ING strategists led by Warren Patterson said in a note. "Meanwhile, there is also a growing view that the oil marketis looking increasingly tight over the remainder of the year". Copper prices meanwhile hit a 9-1/2-year high as tightsupply and solid demand from top consumer China boostedsentiment. In currency markets, the dollar briefly dropped to itslowest since Jan. 13 ahead of Powell's testimony, whilecommodity-linked currencies hovered near multi-year highs. The dollar index was up 0.1% at 90.137, with the euroflat at $1.215. Bitcoin fell as much as 17%, sparking a sell-offacross cryptocurrency markets as investors grew nervous atsky-high valuations. (Reporting by Danilo Masoni in Milan; additional reporting byAnshuman Daga in Singapore; Editing by Ana Nicolaci da Costa) || Lil Nas X Shares Video for New Song "Montero (Call Me By Your Name)": Image via Sony Music After relentlessly teasing his fans, Lil Nas X has finally dropped his long-awaited new single “Montero (Call Me By Your Name).” The “Old Town Road” hitmaker first previewed the song during the Super Bowl LV in February, later revealing the Filip Custic artwork. Produced by Take a Day Trip, Omer Fedi, and Roy Lenzo, the melodic single is the rapper’s first since he dropped “Holiday” in November, 2020. The song could be a sign that his long-awaited debut album, which he teased in an interview with Complex last year, is finally on the way. Nas X also shared the official music video for the track, which features references to Greek mythology, Plato’s Symposium , and religious imagery. Check out the by LNX and Tanu Muino-directed video up top. Before finally dropping the song on Thursday night, X said that he’s “waited 9 months” to release the track “because it’s my baby.” In addition, he teased that the single marks the arrival of “a new era” for him. To further build hype for “Montero,” X gave out $100,000 worth of bitcoin in a promotion on Twitter. MONTERO (CMBYN) OUT THIS FRIDAY!!! I’m giving out $100,000 worth of Bitcoin !!! Quote this with your $cashtag and #CMBYN and I might give you some #partner 🏹🤍 pic.twitter.com/Ht7DCDzdHF — nope 🏹 (@LilNasX) March 23, 2021 After breaking all sorts of records with “Old Town Road,” the highest certified song in RIAA history , the rapper has been forthcoming with fans about his struggles with his mental health. In a series of posts on TikTok earlier this year, he detailed how his rapid rise to fame further worsened his anxiety and how he was able to break the “one-hit-wonder” curse. Story continues Listen to “Montero” below. Related Articles Lil Nas X Trolls TikTok Users Trying to Cancel Eminem With Jokingly Terrible Freestyle Lil Nas X Drags 6ix9ine Over Homophobic Comment, Says He Tried to Slide in His DMs Lil Nas X Details Mental Health Struggles and Battle With Hypochondria on TikTok More Complex The Complex SHOP : Designer Clothing and Brands Complex Podcast Network Sole Collector Mobile App - Your app for the Sneaker World Sneaker of the Year: The Best Since ’85 Book - Now available for pre-order! Sign up for the Complex Newsletter for breaking news, events, and unique stories. Follow Complex on: Facebook , Twitter , Instagram , YouTube , Snapchat , TikTok || Bitcoin Eyes Bull Revival as Dip Below $54K Wipes Out Millions More in Leverage: Bitcoin has erased the losses from its latest price dip and could soon see more gains as normalcy returns to the derivatives market.
Having hit a low of $53,350 during the Asian hours the cryptocurrency is trading 1% higher on the day near $56,200 at press time, according toCoinDesk 20data. Selling pressure faded near the widely tracked monthly volume-weighted average price (VWAP) of $53,000.
The market now looks ready for a fresh move higher, as the bitcoin perpetual futures funding rate – the cost of holding long positions calculated every eight hours – has dropped sharply from 0.124% to 0.08% after excess bullish leverage was wiped out by the cryptocurrency’s pullbacks Monday and Tuesday.
Related:MetaKovan, Buyer of Record-Setting Beeple NFT, Explains Why He Spent $69.3M
Long trades worth $1.16 billion were liquidated on Monday, the most since Feb. 22, according to data provider Coinalyze. And with today’s drop, another $368 million-worth were liquidated by major exchanges.
With the lower funding rate, a more sustained move toward record highs could be seen – more so, as global stocks continue to rally with risk sentiment being supported by fundamentals,according toa tweet from Holger Zschaepitz, a markets commentator and economics author.
Further, many U.S. citizens scheduled to receive $1,400 stimulus checks this week could invest part of the cash received into bitcoin, boosting its price. As per a Mizuho Securities survey, nearly $40 billion of the latest round of stimulus checkscould be spenton bitcoin and stock purchases.
Technical charts are also suggesting scope for a price bounce.
Related:XRP Jumps as Bullish 'Golden Cross' Pattern Appears in Price Chart
The 14-hour relative strength index (RSI), a momentum indicator, formed a higher low early today, decoupling from the downtrend in prices. That “bullish divergence” indicates the pullback has run out of steam.
That said, fresh chart-driven selling may be seen if the cryptocurrency drops below the monthly VWAP support at $53,000.
Also read:Diginex Anticipating Bitcoin Rise to $175K by End of 2021: CEO
• Bitcoin Eyes Bull Revival as Dip Below $54K Wipes Out Millions More in Leverage
• Bitcoin Eyes Bull Revival as Dip Below $54K Wipes Out Millions More in Leverage
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-10-19]
BTC Price: 11742.04, BTC RSI: 67.08
Gold Price: 1906.40, Gold RSI: 49.81
Oil Price: 40.83, Oil RSI: 52.99
[Random Sample of News (last 60 days)]
ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 18, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . CONTACT: Andre Beauchesne Tel. 1-800-204-6203 [email protected] For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/606841/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Blockchain-as-a-Service (BaaS) Market Worth US$24.94 Bn at 39.5% CAGR; Tech Conglomerates Such as Microsoft and Oracle to Focus on Expanding Applicability of BaaS Tools: Fortune Business Insights™: Key Companies Covered in BaaS Market Research Report are Huawei Service (Hong Kong) Co., Limited, Stratis Group Ltd., NTT Data Corporation, Baidu, Inc., Oracle Corporation, Microsoft Corporation, VMware, Inc., Infosys Limited, Accenture Plc, SAP SE Pune, Oct. 05, 2020 (GLOBE NEWSWIRE) -- The global blockchain-as-a-service (BaaS) market size is set to reach USD 24.94 billion by 2027 , exhibiting an impressive CAGR of 39.5% during the forecast period. Multiple advantages of BaaS for small and medium enterprises (SMEs) will fuel the market growth, states Fortune Business Insights™ in its recent report, titled " Blockchain-as-a-Service (BaaS) Market Size, Share & Industry Analysis, By Component (Tool and Service), By Application (Smart Contracts, Supply Chain Management, Payments, Governance, Risk, and Compliance Management and Others (Identity Management)), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Entertainment, Retail & Consumer Goods, Travel and Transportation and Others (Education etc.)), and Regional Forecast, 2020-2027 ". An Overview of the Impact of COVID-19 on this Market: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future. Click here to get the short-term and long-term impact of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/blockchain-as-a-service-baas-market-102721 Story continues Blockchain technology is emerging as an optimal solution to many of the challenges faced by SMEs such as access to trade financing, bank loans, and cash flow difficulties, among other issues. SMEs looking to expand their businesses in foreign lands can gain wider access to trade financing sources using BaaS as this technology is decentralized and cuts out middlemen from the process. The World Economic Forum (WEF) opines that blockchain technology could be instrumental in bridging the gap in trade financing around the world. Similar benefits can be reaped by SMEs in the context of supply chain processes. Thus, these potential advantages of blockchain for SMEs will provide a significant boost to the BaaS market growth in the coming years. According to the blockchain-as-a-service market report, the value of this market stood at USD 1.90 billion in 2019 . The report further provides the following information: Detailed segmentation of the market and piece-meal study of each segment; Comprehensive analysis of the regional developments occurring in the market; In-depth research into the market drivers, trends, and challenges; and Exhaustive assessment of the competitive landscape of the market. Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/blockchain-as-a-service-baas-market-102721 Market Restraint Heightened Vulnerability to Cyber Threats to Hamper Market Growth The safety quotient of financial transactions has gotten considerably elevated since the advent of blockchain technology. Given its complex architecture, hacking into a blockchain-based system requires sophisticated computer skills and tools. Nonetheless, analysis by NASDAQ, one of the three stock indexes in the US, reveals that this technology is not bereft of vulnerabilities, originating primarily from the endpoints that use wallets to initiate transactions. These wallets become easy targets for hackers. For instance, a crypocurrency exchange platform, Ethereum Classic, was hacked in 2019, with the hacker rewriting the transaction history of the platform and stealing millions. During the same year, hackers stole around $40 million in Bitcoin transactions, exploiting the susceptibility of the same endpoint issue stated earlier. Thus, the constantly looming threat of cyber-attacks may prohibit the blockchain-as-a-service market growth during the forecast period. Regional Analysis Increasing Investment in Blockchain Technology to Drive the Market in North America In 2019, the market size in North America stood at USD 1.01 billion owing to the vast number of blockchain development projects being undertaken in the US. One of the major reasons for the widespread development and adoption of BaaS tools in North America is the strong presence of small, medium, and large tech companies operating in the US. This, along with rising integration of BaaS solutions with public utilities services, will enable the region to dominate the blockchain-as-a-service market share in the foreseeable future. In Asia-Pacific, the market will be mainly driven by the rising investment in blockchain technology by the Chinese government and advancements in complex computer technologies in Japan and South Korea. The BaaS market report states that Asia-Pacific will register the highest CAGR during the forecast period. In Europe, increasing focus of well-established players on blockchain technology will propel the market in the near future. Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/blockchain-as-a-service-baas-market-102721 Competitive Landscape Collaborations between Financial Institutions and Tech Companies to Intensify Competition As per the blockchain-as-a-service market analysis, an increasing number of collaborations between financial bigwigs and tech giants are being witnessed in this market. These partnerships are playing a major role in broadening the application areas of BaaS tools and enhancing the potential of the market. Industry Developments: May 2019: Microsoft and JP Morgan announced their partnership to further the advancement and adoption of enterprise blockchain. Under the partnership, JP Morgan's distributed ledger platform Quorum will be made accessible via Microsoft's Azure Blockchain Service to enable customers to build cloud-based blockchain networks. April 2018: Huawei unveiled its novel BaaS solution, called Blockchain Service, based on Linux Foundation's Hyperledge Fabric 1.0. The solution is devised to aid companies design smart contracts focusing on supply chain, securitized assets, and public services, on top of a distributed ledger network. List of Key Companies Operating in the Blockchain-as-a-Service (BaaS) Market are: Huawei Service (Hong Kong) Co., Limited Stratis Group Ltd. NTT Data Corporation Baidu, Inc. Oracle Corporation Microsoft Corporation VMware, Inc. Infosys Limited Accenture Plc SAP SE Alibaba Group IBM Corporation Quick Buy – Blockchain as a service Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102721 Detailed Table of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players Global Blockchain-as-a-Service Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Sizing Estimations and Forecasts – By Component Tools Service Market Size Estimates and Forecasts – By Application Smart Contracts Supply Chain Management Payments Governance, Risk, and Compliance Management Others (Identity Management, etc.) Market Size Estimates and Forecasts – By Industry BFSI Energy & Utilities Government Healthcare and Life Sciences Manufacturing Telecom, Media & Entertainment Retail & Consumer Goods Travel and Transportation Others (Education etc,) Market Analysis, Insights and Forecast – By Region North America Europe Asia-Pacific (APAC) Middle East & Africa (MEA) Latin America (LATAM) TOC Continued..!!! Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/blockchain-as-a-service-baas-market-102721 Have a Look at Related Research Insights: Virtual Reality (VR) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Content), By Device Type (Head Mounted Display, VR Simulator, VR Glasses, Treadmills & Haptic Gloves, and Others), By Industry (Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defence, Manufacturing, and Others), And Regional Forecast, 2020-2027 Human Capital Management (HCM) Market Size, Share & COVID-19 Impact Analysis, By Offering (Solution and Services), By Deployment (Cloud, and On-Premises), By Enterprise size (SMEs, and Large Enterprises), By End-use Industry (IT and Telecommunication, BFSI, Government, Retail, Healthcare, Education, Manufacturing, and Others), and Regional Forecast, 2020-2027 Wireless Temperature Sensor Market Size, Share & COVID-19 Impact Analysis, By Type (Thermocouple, Thermistor, Resistance Temperature Detector (RTD), Semiconductor Temperature Sensor), By Channel Output (Single-channel, Multi-channel), By Technology (Wi-Fi, Bluetooth, ZigBee, Radio-frequency identification (RFID)), By End-user (Healthcare, Consumer Electronics, Automotive, Aerospace and Defense, Food and Beverages), and Regional Forecast, 2020-2027 Machine Learning Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Enterprise Size (SMEs, and Large Enterprises), By Deployment (Cloud and On-premise), By Industry (Healthcare, Retail, IT and Telecommunication, BFSI, Automotive and Transportation, Advertising and Media, Manufacturing, and Others), and Regional Forecast, 2020-2027 About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India. Phone: US: +1-424-253-0390 UK: +44-2071-939123 APAC: +91-744-740-1245 Email: [email protected] Fortune Business Insights™ LinkedIn | Twitter | Blogs Read Press Release: https://www.fortunebusinessinsights.com/press-release/blockchain-as-a-service-market-9870 || Price of Gold Fundamental Weekly Forecast – Without Fed Stimulus Traders Left to Follow Dollar, Economic Data: Gold futures posted a choppy trade last week, but still managed to close higher. The U.S. Dollar and the U.S. Federal Reserve were the primary catalysts behind the two-sided trade. Last week, December Comex gold settled at $1962.10, up $14.20 or +0.73%. Gold prices opened the week flat as investors maintained a cautious approach ahead of the Fed’s monetary policy decisions scheduled for Wednesday and as optimism around a potential COVID-19 vaccine lifted appetite for riskier assets. Gold picked up strength throughout the session, supported by a weaker U.S. Dollar, while thoughts about the Fed centered on more stimulus measures and inflation targets. Bullish traders were hoping the Fed would reiterate its dovish monetary policy stance. Gold futures held steady on Tuesday, following Monday’s sharp rise, as the dollar remained subdued ahead of the Federal Reserve’s monetary policy meeting that was expected to provide more clues stimulus measures and inflation targeting. On Wednesday, Gold futures hit a two-week high but prices began to retreat as the U.S. Dollar firmed ahead of the Fed decision. Despite the small setback, gold remained just under its two-week high as investors continued to bet that the Fed would release dovish details on its plans to balance interest rates against its inflation target. Gold prices eased on Thursday as the U.S. Dollar firmed, although doubts over a swift global economic recovery and the Federal Reserve’s pledge to hold interest rates near zero until at least 2023 limited losses for the precious metal. Gains were also being capped by the Fed’s favorable economic recovery picture and its stopping short of offering concrete signals on further stimulus. Finally, late in the week, gold began to recover from its mid-week losses while en route to a second straight weekly gain after the release of lackluster U.S. employment data and vows by major central banks to roll out further stimulus if required to revive their coronavirus-hit economies. Story continues Weekly Forecast Gold investors were uninspired by the Federal Open Market Committee’s (FOMC) decision because policymakers were reluctant to add stimulus in view of improving fundamentals. This news may keep a lid on prices, but the market continues to be well-supported because of the Fed’s pledge to keep rates pinned near zero until inflation was on track to “moderately exceed” its 2% inflation target “for some time”. With the Fed closely monitoring inflation and the labor market, and since it’s not scheduled to meet until November 4 -5, the focus for gold investors will be on the U.S. Dollar and economic data. This week starts with Fed Chair Jerome Powell speaking on Monday and testifying Tuesday through Thursday, followed by several Fed speakers. The major report is Wednesday’s Flash Manufacturing PMI but traders will also have the opportunity to react to Thursday’s weekly unemployment claims data and Friday’s Durable Goods reports. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 21st, 2020 The Crypto Daily – Movers and Shakers – September 21st, 2020 Rolls-Royce to Raise 2.5 Billion Pounds to Strengthen Balance Sheet as COVID-19 Hurt Bitcoin and Monero’s XMR – Weekly Technical Analysis – September 21st, 2020 European Equities: Futures Point Lower, with COVID-19 and Geopolitics in Focus USD/JPY Fundamental Weekly Forecast – Fear Could Drive Dollar/Yen into 101.185 Over Near-Term || Meet in the Middle: Crypto Companies and Banks Are Evolving Together: Some say that meaningful change happens gradually. Others insist it erupts unexpectedly. This week, we saw that both are true. Earlier this week, the Wyoming Banking Board voted to approve the application from San Francisco-based crypto exchange Kraken for a Special Purpose Depositary Institution (SPDI) banking charter. Yes, one of the crypto industry’s oldest exchanges has become a bank. This is a big deal, one that heralds a coming transformation of the crypto asset industry. Market participants and commentators understandably reacted with glee and surprise. Both are warranted, yet both overlook the bigger shift that has been building up for some time, and which will have an even more significant change on how finance functions. Good news Related: Blockchain Bites: DeFi's Dividend, China's 'New Battlefield,' the Big Banks' 'Suspicious Activity' First, to understand the excitement, let’s look at what this means for Kraken. A SPDI is a bank charter, but it is not a traditional bank in that it can’t make loans. It also is not required to have FDIC insurance, since there is no solvency risk stemming from fractional reserve banking – 100% of its deposits have to be backed by assets on hand. Pending approval, this should give the firm’s subsidiary Kraken Finance access to an account at the Kansas City Federal Reserve, which gives it access to the U.S. payments system. This will make it easier for clients to move funds on and off the exchange, as well as allow for the launch of new products such as debit cards, IRA accounts and wealth management services. Also, Kraken Finance will be able to custody both fiat and crypto assets, with more oversight and legal protection for clients than a trust company can offer. Client confidence will get a further boost through the additional capital that banks are required to hold, and through the required contingency account. Related: First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains Story continues And, although it is chartered in Wyoming, Kraken Finance will be able to operate in most U.S. states under a unified regulatory framework through reciprocity agreements, possibly even returning to operate in New York, more than five years after its public departure in response to the BitLicense . This is good for Kraken, but also for the industry as a whole, as it will facilitate onboarding for a range of businesses and institutions that are only comfortable entrusting financial transactions to a bank. It also takes steps towards solving the perennial problem many crypto businesses have in getting a banking license for operational needs. Opening an account at a digital asset bank should support both fiat and crypto liquidity. And the emergence of a competitor to the few banks serving digital asset businesses should give customers greater choice and better conditions. And finally, Kraken is likely to be the first of many firms moving to take advantage of the business opportunity that being a digital asset bank promises. This will continue to boost institutional confidence in the crypto industry, and support the growth of related banking services that further incorporate digital assets into users’ daily lives. Unexpected news Now, let’s look at why this was a surprise. A group of visionary regulators and advocates started work in 2018 on the painstakingly detailed process of drawing up legislation that takes crypto assets into account. Caitlin Long, one of the aforementioned advocates, hosted a panel at our Invest conference last year that went into many of the details, and has both written and spoken about it at length. So, no surprise there. And a Kraken job ad in December of last year hinted that applying for the SPDI charter was in their plans. Yet Kraken’s win in being the first caught many off guard, because Kraken has not traditionally been seen as, well, the type to choose the banking route. The exchange was founded in 2011 (when the bitcoin price averaged $5.60) by Jesse Powell, one of the industry’s earliest advocates, and an outspoken critic of regulatory overreach. What is one of the original crypto companies doing becoming a bank? Has it given up its principles to join the “system” bitcoin was supposed to circumvent? The answer is no, it hasn’t. On the one hand, Powell has shown from the beginning that he will take steps to ensure fair access to cryptocurrencies, and has worked at getting strong banking relationships to support his business. Becoming a bank is an efficient way to cement the firm’s standing in the financial community, which benefits its clients. On the other hand, the “system” that Kraken is joining is changing. And that has been the point all along. Important news Here we get a glimpse of the bigger shift I mentioned above. It’s not that crypto businesses are jumping through hoops to become respectable. That is happening to some extent, and it’s good for the industry. Respectability brings mainstream acceptance and investment inflow. And with its SPDI application, Kraken is reinforcing its reputation as one of the more innovative institutions in our sector. The bigger shift is that traditional finance is changing to adapt to the crypto industry. The SPDI is a new type of bank charter that was created with the crypto industry in mind . A new set of definitions and protections was drawn up to take into account crypto asset characteristics . A state passed financial legislation for the crypto industry . What happened this week is not so much confirmation that crypto businesses are joining traditional finance. It’s more, to some extent, the other way around. Many of us working in this industry are here because we believe that we are witnessing the emergence of a new economic system that will reform capital markets and finance. We have all faced cynics who insist that traditional finance won’t change, that cryptocurrencies are a threat to stability and order and that authorities won’t let this scale of innovation take root. This week proved the cynics wrong. The main story is not that one of the original cryptocurrency businesses, which supports the underlying principles of distributed governance, has joined the legacy financial system. The story is more one of traditional finance adapting. So far, this is both a small step (Kraken is one company, Wyoming is one state, the U.S. is one country) and a big one. The crypto industry wants reasonable regulation, for security and respectability. But it knows that traditional rules can’t apply. So it has convinced the rule makers to make new ones. This week it showed that it can get the traditional side to meet it halfway. If you were wondering how the crypto industry could transform traditional finance, this is how it happens. Anyone know what’s going on yet? Bitcoin started to recover some ground this week, although it is still down for the month. Stocks generally continue to languish, with the tech sector suffering a drawn-out hangover from recent exuberance. The market as a whole seemed to be feeling frustration that the U.S. Federal Reserve chairman Powell’s remarks this week – in his last scheduled public appearance before the U.S. election – didn’t offer more clarity on inflation expectations. Amid deepening fatigue around the persistent uncertainty (not just about inflation but also about the economic recovery, a vaccine, can our kids stay in school and so much more), concern about the fate of the U.S. dollar seems to be gathering strength. Even renowned fund manager Ray Dalio was caught hinting that “other asset classes” will pick up strength from the loss of faith in fiat currencies. The question remains how long before this growing tension starts to really overrule the persistent faith that the Fed will keep stock markets afloat. The declines we’ve seen so far this month may hint that the concern is starting to make itself felt in the indices – or, they could just be a breather before another spurt of energy. Be sure to listen to my colleague Nathaniel Whittemore interview Raoul Pal for a harsh take on the inefficacy of monetary policy and the need for a new economic paradigm. CHAIN LINKS Michael Saylor, the founder of MicroStrategy, revealed that his company has acquired an additional $175 million in bitcoin, which brings his firm’s total spend on cryptocurrency to approximately $425 million. TAKEAWAY: While it is exciting to see such public validation coming from outside our industry, it is a bit worrying when corporate treasury decisions start to be treated as publicity for a concept. It’s also disconcerting to see the resulting (or coincidental?) bump in the share price touted as a reason other corporate treasurers should put company funds into cryptocurrencies. I say this as someone who believes in bitcoin’s long-term potential (not investment advice!). I also say this as someone concerned about the pressures CFOs face in their daily jobs, and the implied assumption that putting corporate funds into bitcoin is risk-free. It isn’t. (Nathaniel Whittemore’s interview of Michael Saylor is a compelling listen.) Over $1 billion worth of bitcoin has been tokenized on Ethereum, equivalent to 0.42% of the total BTC supply and up from less than $7 million in January. TAKEAWAY: This is astonishing growth. The concept is compelling. It’s not just about depositing your bitcoin into a specific wallet in order to get a corresponding amount of an Ethereum-based token that you can then deposit in another wallet to get yield. It’s also fascinating for the way assets can “live” on more than one blockchain at once, even if just temporarily. We’ll no doubt be hearing a lot more about this. The RGB protocol, currently in beta, is a second layer network that aims to bring smart contracts and tokenized assets to Bitcoin. TAKEAWAY: This reminds us that Bitcoin may have a simple and resilient protocol, but it is also an evolving technology. While the base code may be difficult to change, developers are working on code layers that connect to the Bitcoin blockchain and that allow for additional functionalities. Some of these may one day end up being a key driver for bitcoin demand, much like the growing demand for applications on the Ethereum blockchain was one of the factors that boosted the price of its native token, ETH. A leaked version of rules to be issued later this month by the European Commission proposes an all-encompassing set of regulations covering the trading or issuance of digital assets, effectively treating them the same as any other regulated financial instrument. TAKEAWAY: The legal clarity will be welcomed by many, although Europe has a well-earned reputation for passing blanket rules with good intentions that end up having the opposite effect than that intended. That said, European regulators have on the whole been supportive of blockchain technology, and some countries have encouraged the development of digital asset market infrastructure, so this could end up being a positive development. Blockchain services firm Diginex is officially merging with publicly traded 8i Enterprises Acquisition Corp., a special purpose acquisition company (SPAC). The merger is a key part of its plan for a “backdoor” Nasdaq listing. TAKEAWAY: Diginex’s businesses include crypto derivatives exchange EQUOS.io, digital asset trading technology platform Diginex Access, securitization advisory firm Diginex Capital, as well as a digital asset custody provider and an investment management business. Some see irony, as it represents the merging of decentralized assets with centralized markets (a crypto company listing on Nasdaq). Others see perfect synergy, however, as Diginex covers a range of crypto-focused businesses that are pushing the innovation envelope for capital markets. Either way, it heralds the eventual merging of decentralized and centralized concepts, and a maturation of crypto market infrastructure. According to blockchain forensics firm Chainalysis, the number of “young investment” wallets (those that are one to three months old and rarely send bitcoins) has jumped to the highest level since February 2018, double that of six months ago. TAKEAWAY: While it’s hard to draw clear conclusions from address data, this does hint at growth in interest in cryptocurrency from new entrants into the market. The theory is that new addresses used for transactional purposes would have outgoing as well as incoming transactions – those that are almost all incoming are more likely to be investment accounts. According to a report in Bloomberg, India plans to ban trading in cryptocurrencies. TAKEAWAY: So, India has been sending mixed signals. It allows banks to offer services to crypto exchanges. And then leaks a possible ban on crypto exchange activity? This is worth watching because India is a potentially massive market. Even apart from the sheer size of the population, there’s the recent painful experience with demonetization and the relatively high inflation rate. Leading crypto derivatives exchange Deribit is seeing increasing investor interest in bitcoin options that would profit from prices rallying as high as $36,000 by the end of 2020. TAKEAWAY: I’d say this is nuts, but it obviously makes sense to some people. For those looking for more clarity as to what’s going on in crypto market infrastructure, this is your week. Ark Invest published, in collaboration with Coin Metrics, a paper that explores bitcoin as a monetary asset, focusing on its trading volume evolution and outlook, liquidity and the potential impact of institutional investment. Binance Research put out an overview of crypto market infrastructure, with a focus on the evolving role of prime brokers, and a prediction that traditional brokers will continue to move into the crypto industry. Deribit published a note that points out how blockchains’ relatively slow responses hinder trading opportunities, given the need to move collateral around for leveraged positions – and how custody services are evolving to solve for this. Podcast episodes worth listening to: The Raw, Savage Capitalism of Open-Source Protocols – Nathaniel Whittemore, The Breakdown Monetary Policy Is Finished and Macro Debates Are Boring, Feat. Raoul Pal – Nathaniel Whittemore, The Breakdown Governments vs. Networks: The Battle for the Soul of Finance – Nathaniel Whittemore, The Breakdown David Kinitsky and Marco Santori (Kraken) on obtaining the first Wyoming SPDI – Nic Carter and Matt Walsh, On the Brink Erik Torenberg on Decentralizing Venture Capital – Anthony Pompliano, The Pomp Podcast Related Stories Meet in the Middle: Crypto Companies and Banks Are Evolving Together Meet in the Middle: Crypto Companies and Banks Are Evolving Together || Coinbase Commerce now allows merchants to convert crypto to fiat from within the platform: Coinbase Commerce, the exchange operator's payment service for merchants, will now let users convert cryptocurrencies to fiat currencies and stablecoin from within the platform.
Previously, merchants had to move their crypto payments to Coinbase's exchange platform for conversions. Now they can do them without having to leave the Commerce platform, Coinbase announced in ablog postshared with The Block on Monday.
Merchants can directly connect their Coinbase.com accounts with Coinbase Commerce and convert their crypto payments into U.S. dollars (USD), euros (EUR), British pounds (GBP), and USD Coin (USDC) stablecoin. Coinbase said it would charge a 1% fee for conversions.
Integrations that will also allow merchants with Coinbase Commerce accounts to use Coinbase Pro and Coinbase Prime for conversions and withdrawals are coming "soon," according to exchange operator.
Coinbase Commercecurrently supportsbitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), DAI, and USDC for payments. The platform is used by more than 8,000 merchants, according to itswebsite.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Leaked Recordings Suggest Crypto Lender Babel Leveraged Users’ Funds in Longing Bitcoin: Leaked recordings of a private conversation suggest crypto lender Babel Finance leveraged some user funds to long bitcoin and faced potential default risks during this year’s Black Thursday market crash in March. Seven audio files first emerged online on Sept. 25 that appear to be parts of a longer in-person conversation between Del Wang, co-founder of Beijing-based Babel, and an unknown person. The recordings offer a rare hint of strategies taken by the industry’s nascent crypto lenders in managing their balance sheets, suggesting some business practices may be different from what they claim. Related: BlockFi Adds an Independent Pricing Partner to Guard Against Flash Crashes The audio files were initially uploaded to Anchor.fm by an anonymous Twitter user on Sept. 25 but were soon taken down by the platform after Babel filed complaints. The anonymous Twitter user then posted the recordings to YouTube. Several people familiar with the company listened to the recordings and confirmed to CoinDesk that it was Wang speaking. In one of the files, the unknown person also addressed Wang by his full name. In a written response to CoinDesk on Sept. 30, a Babel representative said the company is unable to confirm the authenticity of the recordings because they are “fragmented” and “clearly artificially edited.” The representative said they can’t comment on the content of the recordings and claimed the accusations made by the anonymous publisher were baseless and not factual. Wang didn’t respond to CoinDesk’s request for comment on the recordings. Related: Aave Becomes Second DeFi Project to Overtake MakerDAO for Most Crypto Deposited Following Babel’s initial response to Decrypt that the recordings could be patched together, the anonymous Twitter account posted two longer recordings on Sept. 30 that contain the previous seven parts. The new recordings suggest the conversations happened around March 20. Story continues Founded in 2018, Babel Finance is registered in Hong Kong with operations based in China. It has essentially taken on the role of a crypto bank in the industry by offering both saving and lending products. One of its money drivers was the difference between lending and saving interest. But according to the leaked recordings, Babel also bet that bitcoin’s price would rise and leveraged both its own and some customer funds to long bitcoin, which faced potential default risks during bitcoin’s 60% crash six months ago. ‘It’s called X Plan’ In the additional recordings published on Sept. 30, Wang can be heard saying Babel started buying bitcoin in early 2019 when its price was around $3,000. The initial capital for those purchases came from the $750,000 raised from Neo Growth Capital (NGC) and another $4 million as deposits, also from NGC. When asked why NGC didn’t buy bitcoin with the $4 million, Wang said NGC wasn’t planning to use that money for such a purpose. An unidentified partner at NGC reportedly said he was not aware of the NGC funds being used to speculate on bitcoin’s price. Wang apparently said in the recording that Babel adopted a strategy where it pledged the bitcoin it purchased to another lender in order to borrow more money when bitcoin’s price went up to $4,000. With the newly borrowed money, it continued buying more bitcoin. When bitcoin’s price went up again, it repeated the same method, which put more leverage on its long positions. “We became the customer of ourselves,” Wang said in the recordings. “We kept increasing our [bitcoin long] positions starting from $3,000 all the way to $14,000,” Wang was heard saying in the recordings. “Initially we had about 3X leverage, but then we leveled up as bitcoin’s price surged.” Read more: What Crypto Lender Celsius Isn’t Telling Its Depositors “It’s called X Plan,” Wang said in the recording, seemingly referring to the leverage strategy. “Initially only Flex Yang [Babel’s CEO and the other co-founder] and I knew about it. But later on three other shareholders also became aware of the plan.” Babel declined to elaborate on X Plan or comment specifically on the usage of NGC’s funds in the beginning, claiming information with its customers is confidential. The apparent upside of this method is the multiplied return on the back of bitcoin’s bull run in the first half of 2019, when bitcoin went from $3,000 to $14,000. Wang said in the recording that when bitcoin reached $14,000, the firm did realize this was not a long-term game and initially set a profit-stop order at $18,000. Even though it had later lowered the stop order targets, it didn’t fully close its positions. “Had we closed our positions even at $10,500, we could have made net profits of two to three hundred million yuan [around $30 million to $40 million],” Wang was heard saying. But the downside was the risk of how quickly Babel’s crypto reserves could react to margin calls from its capital sources for more bitcoin if bitcoin’s price suffered a sudden plunge. User funds Babel boasts that it is one of the major crypto lenders in the world, claiming to have over $350 million in outstanding loans as of June 30 this year. But customers’ deposits only constitute a relatively small part of the money that’s available for borrowers. A majority of Babel’s capital comes from other institutional lenders. Babel’s CEO and co-founder Flex Yang said prior to March 12 his firm was able to enjoy a collateral-to-loan (CTL) rate as low as 100% for borrowing funds from its capital sources. The firm’s main capital partners included BlockFi, Genesis Capital and Tether at the time. That means Babel would only need to pledge $1 million worth of bitcoin in order to borrow $1 million of USDT . But, when lending this amount to its own customers, Babel required an over 160% CTL rate, meaning borrowers needed to put in over $1.6 million worth of bitcoin as collateral. As such, Babel would have the difference of the $600,000 worth of bitcoin collateral sitting on the liability side of its balance sheet. One reason Babel could enjoy a more attractive collateral rate from its capital sources is because it advertises that Chinese bitcoin miners who are able to generate bitcoin organically and meet margin calls if needed are its primary lending customers. In an ideal situation, the risk would be relatively low for Babel if it holds all the $600,000 bitcoin collateral in the example above within its reserve. But the reality appears to be muddier because Babel didn’t exactly draw a fine line between its own assets and user funds, according to Wang in the recording. Read more: SEC Orders Salt Lending to Offer Refunds to Investors in Its $47M ICO In the response to CoinDesk, Babel claimed that customers’ collateral is either stored in cold wallets or further lent out to counterparties while taking in USDT as collateral. “The situation of Babel using customers’ funds to trade crypto doesn’t exist,” the firm claimed in the statement. But then that raises a question of how it could even differentiate customers’ positions from its own long positions if they were bundled together to execute a leverage plan. In one of the recordings, the unknown person said to Wang: “Strictly speaking, these [user] funds do not belong to you, and you should not have used them as leverage.” “Right,” Wang answered, explaining: “The money we used to buy bitcoin came from our fundraise, our interest profits and profits we made through increasing our long positions.” The person went on to question: “If it was all just your own asset, you couldn’t have got this large [long] position. … That means you probably have also used parts of borrowers’ collateral and depositors’ funds.” Wang did not directly answer with a yes or no to that question but said that “if considering ourselves as a customer, then our funds and real users’ funds are all mixed up together.” “The good customers are the real customers. The bad customers are ourselves,” Wang was also heard saying in the recording. Babel declined to disclose how large its long positions were before this year’s March sell-off. March 12 The real risk didn’t start to materialize until March 12, when bitcoin’s price crashed by over 60% in a matter of a day. The sudden drop led to a severe devaluation of Babel’s collateral at its capital sources, to the extent that its collateral at Tether at one point was worth below 80% of what Babel had borrowed from the USDT issuer, people familiar with Babel’s operations told CoinDesk. The people said at that point Babel owed Tether 2,000 to 3,000 BTC just to meet the 100% CTL rate. If Tether chose to liquidate Babel’s position, itself would also suffer a loss since the bitcoin collateral it had was worth much less than the money it lent out at that point. When asked why Babel didn’t send in more bitcoin to meet the margin calls from its capital sources during the March 12 crash, Wang said in the recording the firm didn’t have the coins for its own positions. He said Babel later liquidated some borrowers’ positions worth 3,000 to 4,000 BTC but didn’t exactly sell them. Babel declined to comment on Wang’s comment about it falling short of reserves to meet margin calls but claimed it didn’t default any borrower due to its own violation of terms, such as failing to pay back collateral as demanded. Babel said it also didn’t default any institutional lenders and there was no forced liquidation from its capital partners due to Babel’s own violation of terms. But one smaller lending partner, Hong Kong-based OSL, force-liquidated Babel’s more than 500 BTC collateral following the March 12 crash, according to screenshots of conversations between the two seen and reviewed by CoinDesk. Yang said the forced liquidation came after Babel met OSL’s margin calls and subsequently blamed OSL for the act instead of itself. OSL has not yet responded to CoinDesk’s request for comment. In fact, the people familiar with the situation said when the March 12 crash happened, Babel asked for credit loans from Tether so it could meet margin calls from other lenders and subsequently transferred the debts to the USDT issuer. Read more: $100M+ in Margin Calls: Crypto Lenders Demand Collateral as Market Buckles According to the sources, Babel also managed to get Tether to agree to extend its margin call deadline to a month so that it would have more leeway to send more collateral. To gain Tether’s trust for that, Babel even proposed to pledge some of its equity to Tether, which declined the offer but took Babel’s words, according to email exchanges reviewed by CoinDesk between the two parties just days after the market crash. “Essentially, at that very moment, Babel was in debt to both its customers as well as its capital sources,” the people said of the risks Babel endured at the time. Babel declined to comment on Tether’s help, citing it cannot disclose business details with its partners without proper approval. Tether also declined to comment and said it cannot and will not confirm whether it has any client relationship with any private party. But the market’s bounce back to above $6,000 within weeks after March 12, together with Tether’s extension and Babel’s new saving products afterwards, helped the firm gather more bitcoin and alleviated its risks for the time being. Babel declined to disclose its current bitcoin long position but said its overall leverage is kept within three to five times. “We are supporters of crypto assets. Our net assets and a majority of our profits are stored in the form of bitcoin but we adjust the balance based on market’s volatility,” it said. It’s unclear where Babel’s balance sheet sits right now. The firm said it has expanded its investment into risk management with custody partnerships with Coinbase Custody and is working on opening a custody account with Fidelity. It has hired an internal compliance offer and is working with an outside auditor to up its level in financial transparency. Ada Hui contributed to reporting. Related Stories Leaked Recordings Suggest Crypto Lender Babel Leveraged Users’ Funds in Longing Bitcoin Leaked Recordings Suggest Crypto Lender Babel Leveraged Users’ Funds in Longing Bitcoin || Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400: Bitcoin’s price continues to move up, with a little help from the U.S. Federal Reserve, while ether traders are hedging in the options market. Bitcoin (BTC) trading around $10,979 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours. Bitcoin’s 24-hour range: $10,662-$11,099 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin hit as high as $11,099 on exchanges such as Coinbase Wednesday after the U.S. Federal Reserve announced it was keeping interest rates near zero until maximum employment is achieved. The price lost steam to $10,979 as of press time, however. Read More: Federal Reserve Now Targets Inflation Above 2%, Bitcoin Breaks $11K Related: First Mover: Federal Reserve Does What It Wants to Do as Bitcoin Hits $11K “Buyers have already reached $11,000 per BTC. We expect an increase to $11,200, and then a test of $11,500,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital. Read More: This Crypto Startup Takes Bitcoin Advocacy to a Whole New Level At least one stakeholder remains wary until there is more buying volume in the bitcoin market, however. “Personally I think we need to see sizable purchase volume above $12,000 to really get this moving, otherwise I would tend to expect some more consolidation over the next few weeks,” said Neil Van Huis, director of institutional trading at liquidity provider Blockfills. The last time bitcoin hit $12,000 was back on Sept. 1. Bitcoin mining could play a role in near-term market movements, added Van Huis. “If BTC prices are higher, miners may look to capitalize on it by selling to raise cash,” he said. The mining difficulty adjustment, expected on Sept. 19, is anticipated to trend higher since hashpower has been hitting record highs this week. That means older mining machines will be replaced with newer models in order for some operations to compete. Story continues Related: Bitcoin Falls Back Below $11K as Markets Doubt Fed's Ability to Boost Inflation “Miners would essentially be speculating on whether it would be more profitable to just let their bitcoin holdings ride because they can’t get access to equipment, or sell BTC to raise cash for equipment to mine more efficiently going forward,” added Van Huis. Italian over-the-counter trader Alessandro Andreotti pointed to the amount of bitcoin locked in decentralized finance, which crossed the 100,000 BTC mark this week , as a bullish sign for the world’s oldest cryptocurrency. “I think it is a great milestone for decentralized finance as a whole, showing how much potential it has and how many investors believe in it,” Andreotti said. “These are exciting times.” Read More: Bakkt Bitcoin Futures Daily Trading Volume Hits Record High Ether options bet below $400 Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday trading around $365 and climbing 0.28% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: SEC Commissioner Peirce Says Unikrn-Killing Fine to Have Chilling Effect Ether options traders remain biased toward spot prices below $400. While 36% expect ether to be over $380, only 22% of options bets expect ether over $400 next week at the Sept. 25 expiration. William Purdy, an options trader and founder of analysis firm PurdyAlerts, said that ether’s implied volatility, the forecast of its price movements, has been higher than realized volatility, a measure of price movements from past behavior, since July. As option prices are based on implied volatility, he sees an opportunity in shorting ether options. “The implied volatility is priced at a premium to historical volatility as ether investors are looking for downside price protection from future unfortunate events,” said Purdy. “This protection cost is often overestimated by the market and can be taken advantage of by selling options.” Other markets Digital assets on the CoinDesk 20 are mixed, mostly in the red Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): basic attention token (BAT) + 3.7% stellar (XLM) + 1.5% dogecoin (DOGE) + 0.73% Read More: Ava Labs Sets Avalanche Mainnet Launch for Sept. 21 Notable losers as of 20:00 UTC (4:00 p.m. ET): tron (TRX) – 6.8% nem (XEM) – 5.6% chainlink (LINK) – 4% Read More: Polkadot Projects Will Be Able to Mint Their Own Tokens in 2021 Equities: Asia’s Nikkei 225 ended the day flat, in the green 0.09% as investors mostly sat on the sidelines ahead of the U.S. Fed’s monthly meeting . Europe’s FTSE 100 closed in the red 0.44% as concerns about coronavirus and concern about the looming Federal Reserve announcement dragged on the index . The United States’ S&P 500 slipped 0.46% as major tech companies dropped, including Facebook falling 3.3% and Apple dipping 2.5% . Read More: Diginex Moves Closer to Backdoor Nasdaq Listing With Merger Approval Commodities: Oil is up 4.4%. Price per barrel of West Texas Intermediate crude: $40.09 Gold was in the green 0.27% and at $1,958 as of press time. Read More: Kraken Becomes First Crypto Exchange to Become a US Bank Treasurys: U.S. Treasury bond yields were mixed Wednesday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 8%. Read More: Bahamas to Roll Out ‘Sand Dollar’ Digital Currency Next Month Related Stories Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400 Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400 || First Mover: Privacy Is Litecoin’s Ace in the Hole as JPMorgan Touts Bitcoin: Litecoin (LTC), a nine-year-old cryptocurrency whose price returns have chronically underperformed the bigger and better-known bitcoin in recent years, is hitching its wagon to a new star: privacy. The blockchain industry subsector of “ privacy coins ” – cryptocurrencies with embedded technology that shields identifying information from public view – is becoming one of this year’s hottest buys. One of the biggest privacy coins, zcash (ZEC), which offers “shielded transaction” capabilities, has nearly tripled so far in 2020, while monero (XMR), which uses a technique called “ring signatures” to obscure sender and receiver data, has doubled. Litecoin founder Charlie Lee told CoinDesk in an interview the project is now looking to adopt key privacy-enhancing features, which he sees as increasingly attractive to cryptocurrency users. The enhancements are already being tested, and an upgrade to the main network is scheduled for next year. If the effort succeeds, it might inject a jolt of enthusiasm into a project that has suffered from a lack of momentum in digital-asset markets. Litecoin is up 21% this year after a 38% gain in 2019, which pales in comparison to bitcoin’s 59% year-to-date gain and a 94% increase last year. Related: Market Wrap: Bitcoin Slips to $11.2K; Uniswap Flows Dominate Ether “I want to make it so that users don’t have to worry about giving up their financial privacy by using litecoin,” Lee said. “Even if you’re not doing anything illegal, you don’t want people to know how much money you have or what your paycheck is.” – Daniel Cawrey Read More: In Effort to Differentiate, Litecoin Makes a Move to Privacy Bitcoin Watch Bitcoin is hovering near $11,400 at press time, having snapped a six-day winning trend with a 1% drop on Tuesday. Related: CFTC Chairman Heath Tarbert Talks Ethereum, DeFi and the Next BitMEX Story continues Notably, the cryptocurrency formed an “inside day” candle on Tuesday, aborting the immediate bullish technical outlook. Inside day candle occurs when the cryptocurrency trades well within the preceding day’s high and low and indicates consolidation. As such, Tuesday’s high of $11,567 is now the level to beat for the bulls. A break above that level would signal a continuation of the recent rally and open the doors for resistances above $12,000. Alternatively, acceptance under Tuesday’s low of $11,314 would imply a bearish reversal and could yield deeper declines. That said, the on-chain metrics favor a continued rally. The seven-day average of bitcoin’s hashrate or measure of the processing power dedicated to the blockchain rose to a record high of 144.29 exa hashes per second (quintillion hashes per second) on Tuesday, surpassing the previous peak of 143.19 EH/s observed on Sept. 18, according to data source Glassnode. It indicates high miner confidence in the cryptocurrency’s price prospects. Miners largely operate on cash and liquidate their BTC holdings to fund operations. As such, they are likely to dedicate more resources to the computer-intensive mining process if they are bullish on price. – Omkar Godbole Read More: Bitcoin Steady Above $11,400 as Hashrate Reaches New High Token Watch Bitcoin ( BTC ): Giant money manager Fidelity pitches bitcoin as “alternative investment.” Ether ( ETH ): Ethereum’s network upgrade (Eth 2.0) is expected soon and could address scaling issues associated with its legacy platform. What’s Hot JPMorgan calls Square’s $50M bitcoin investment “strong vote of confidence” for the cryptocurrency ( CoinDesk ) Bank of Russia seeks limit on amount of digital assets retail investors can buy ( CoinDesk ) Blockchain could give $1.7T boost to global economy by 2030, PwC report says ( CoinDesk ) New cVIX index tracks crypto market volatility ( CoinDesk ) The saga of Blue Kirby shows DeFiers are a trusting lot, until they’re not ( CoinDesk ) Coinbase chief compliance officer departs amid as CEO’s “apolitical” stance proves political ( CoinDesk ) Nasdaq-listed Marathon Patent teams with Beowulf Energy to co-locate bitcoin mining facility in Montana ( CoinDesk ) Lesson of third quarter is that crypto is “still a retail dominated industry,” The TIE’s Joshua Frank writes ( eToro/The TIE ) BitMEX charges show that days are gone when innovators could “take a lackadaisical approach to regulatory and legal compliance” ( Arca ) Coin Metrics analysis maps BitMEX execs Arthur Hayes, Ben Delo and Samuel Reed to their respective withdrawal keys ( Coin Metrics ): Analogs The latest on the economy and traditional finance IMF’s Tobias Adrian sees risk of “sharp adjustment in asset prices or periodic bouts of volatility” ( IMF ) BlackRock’s Larry Fink sees future with just 50% of workers in offices ( Bloomberg ) Argentine president says government has no intention of devaluing country’s currency ( Bloomberg ) Chinese tech hub Shenzhen toys with digital yuan pilot program ( SCMP ) Interest rate cuts in U.S. and elsewhere have China buying hitherto “unattractive” government bonds from Japan ( CNBC ) Environmental, social and governance concerns could take toll on stock valuations, ValueAct’s Jeffrey Ubben says ( Reuters ) Tweet of the Day Related Stories First Mover: Privacy Is Litecoin’s Ace in the Hole as JPMorgan Touts Bitcoin First Mover: Privacy Is Litecoin’s Ace in the Hole as JPMorgan Touts Bitcoin || Fintech Focus For October 15, 2020: Quote Of The Day:There needs to be a sweet spot between the brand and your community.-Danny Cortenraede
Fintech Movers:[W]e think that over the next five years, Bitcoin presents a multi trillion dollar opportunity.-ARK Invest
• M1 Financecloseson $45M Series C round.
• Deutsche tointroducesolutions with Google.
• JPM seeing growth in BTC payment options.
• Singapore approved a DLT bond exchange.
• Linux Foundation and FINOS intro speakers.
• RBC launches AI-powered trading platform.
• Fed is seeking pilot participants for FedNow.
• BlackRock plans launch of Aladdin Climate.
• Morgan Stanley’s AI chatbot to launch soon.
• Fed, 6 other central banks eye crypto guide.
• Singapore Exchange added Baton Systems.
• Brex taps former Spotify executive for CMO.
• SoFi has launched a social trading network.
Benzinga Global Fintech Awards Spotlight:
Every year Benzinga, a leading news and data platform, holds the Global Fintech Awards, a day of dealmaking, networking, and recognition in the fintech space.
Ahead of the November 10, 2020 event, this newsletter highlights disruptive innovators working to create positive and diverse change in financial services.
Today's disruptive innovator isSigma Ratings, an AI-powered rating agency focused on quantifying company-level non-credit risks.
For a chance to make your mark on the future of innovation and be featured in this newsletter,check out our Global Fintech Awards! To meet the biggest names in fintech and discover emerging trends,get tickets here.
Watch For This:British Prime Minister Boris Johnson told the head of the European Commission, Ursula von der Leyen, that he was disappointed there had not been more progress in Brexit trade talks, his office said on Wednesday.- Reuters
• 433 founder talks brands, entrepreneurship.
• JPM’s Kolanovic warns all Biden supporters.
• Real-estate influencer hit $500M milestone.
• We should rethink growth to save capitalism.
• Building an 8-figure business by saying no.
• Early voting opened up in 3 more US states.
• Fauci: Trump no longer contagious to others.
Market Moving Headline:Net income for the five biggest U.S. firms totaled $23.2 billion in the quarter, more than triple that of the second quarter and just 12% below the level reported a year earlier. -Bloomberg
• Trump to transform America’s manufacturing.
• PNC saw bump in revenue, reserve stability.
• Goldman bank push brings $96B in deposits.
• United Airlines cuts costs, preps for rebound.
• Zoom launches events platform and market.
• Apple added four iPhone 12 models, 5G tech.
• Oil rises as OPEC complies with production.
• Why Slack looks to Instagram for inspiration.
• Mnuchin says Trump told him to keep at aid.
• EU to hold off on US tariffs til Nov. 3 election.
See more from Benzinga
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• Fintech Focus For October 14, 2020
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin CEO: MicroStrategys Michael Saylor Explains His $425M Bet on BTC: MicroStrategy is prepared to HODL its bitcoin for at least a century. Or so said the business intelligence firms founder and CEO, Michael Saylor, in an interview with CoinDesk on Tuesday, shortly after he announced on Twitter that MicroStrategy was doubling down on the godfather cryptocurrency with the purchase of $175 million more BTC . I want something that I could put $425 million into for 100 years, Saylor told CoinDesk. Related: Bakkt Bitcoin Futures Daily Trading Volume Hits Record High In the last two months Saylor has transformed his companys once-sleepy cash surplus into a nearly half-billion-dollar bet on bitcoin, the digital gold Saylor is certain will outlast his tenure. If [my successor is] staring at this thing, its still working, he said. This thing is a heaping pile of 38,250 bitcoins. The publicly traded firm bought $250 million worth on Aug. 11, days after telling shareholders that cash was no longer a safe place for its excess $500 million. Tuesday morning, it bought $175 million more. Read more: MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M Related: First Mover: Binance's CZ Doesn't Even Dispute That DeFi Might Be Inevitable Forget about parking the balance sheet surplus in inflation-prone cash or low-yield bonds or overextended tech stocks, Saylor said. In a market like this and in the future he said is certain to come there are only two good places to put excess cash to work: stock buybacks and bitcoin. Its a radical about-face for a man who seven years ago declared bitcoins days were numbered. What sparked the change? An unlikely revelation I went down the rabbit hole during COVID-19, Saylor said, admitting he was wrong to have doubted bitcoin back in the $600 range. I wish I knew then what I know now, he said. The first step in his journey to conversion came from an unlikely source for a newly minted bitcoin maximalist: The sale of the Voice.com domain to EOS creator Block.one for $30 million in July 2019. Story continues Fast forward to 2020, and Saylor found himself reading up on bitcoin. He learned as much about crypto as fast as he could. Saylor said he pored over essays by bitcoin luminaries, listened to Nathaniel Whittemores and Anthony Pomplianos crypto podcasts, scoured the internet for Peter Schiffs bitcoin debates with Erik Voorhees and lost himself in Andreas Antonopoulos media empire. COVID-19s global business woes were actually a boon for MicroStrategy. Saylor said the firm soon realized it had far more cash on hand than it needed to operate in a newly streamlined virtual-first world. Moving away from the dollar is now Saylors primary concern. He said he cant stand the inflationary risk. In bitcoin, he and the firms decision-makers have found what they deem the obvious choice for the coming century of QE infinity . I started to cheerfully assign homework to MicroStrategys executives and directors, Saylor said. He staged a series of learning exercises to bring everyone up to speed. If MicroStrategy was really going to move millions into bitcoin, then everyone had to be on board. How to go all-in There was a lot of ground to cover, Saylor said. But in three months time, he and his executives had accrued the crypto education, and dealt with the myriad legal, custodial and security issues that he said stand in the way of publicly traded companies getting into crypto. Then, in late July, executives unveiled the game plan on the firms Q2 earnings call : MicroStrategy would seek to invest up to $250 million in the next 12 months in one or more alternative investments or assets which may include stocks, bonds, commodities such as gold, digital assets such as [b]itcoin, or other asset types, MicroStrategy resident Phong Li said on July 28. It was a declaration so clouded in corporate vagueness that nobody really noticed the news. A week passed before Castle Island Ventures partner Matt Walsh resurfaced the earnings call transcript in a tweet . He noted how the Nasdaq-traded stock was diversifying its cash holdings to include bitcoin. Walsh gave the news a double-eye emoji. Watch this, he was saying. Observers didnt have to wait long. Six days later MicroStrategy poured all $250 million of its inflation-hedging surplus into bitcoin. Gone was the 12-month timeline and the promise to diversify across gold and other alternative assets. All bitcoin, all the time. Come September, its board of directors had recognized bitcoin as MicroStrategys primary treasury reserve and hinted in an SEC filing that more buying could be on the way. Read more: MicroStrategy Tells SEC It May Increase $250M Bitcoin Reserves It shattered the self-imposed $250 million bitcoin ceiling mere hours later. As of press time, MicroStrategy has converted $425 million into bitcoin. The stock has surged 30% since its first bitcoin buy on Aug. 11. It was up 9% on Tuesday. Other publicly traded tech firms think Apple and Google park billions of excess capital in cash and leave it there for years. But Saylor didnt want to leave MicroStrategys millions in a bank account where the specter of inflation could slowly whittle it away. We just had the awful realization that we were sitting on top of a $500 million ice cube thats melting, Saylor said. MicroStrategy has settled on bitcoin as the treasury alternative. This is not a speculation, nor is it a hedge, said Saylor. This was a deliberate corporate strategy to adopt a bitcoin standard. Related Stories Bitcoin CEO: MicroStrategys Michael Saylor Explains His $425M Bet on BTC Bitcoin CEO: MicroStrategys Michael Saylor Explains His $425M Bet on BTC
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-04-11]
BTC Price: 6968.32, BTC RSI: 39.81
Gold Price: 1356.50, Gold RSI: 60.84
Oil Price: 66.82, Oil RSI: 62.86
[Random Sample of News (last 60 days)]
Barclays: Hedge fund inflows will be $40 billion in 2018: Hedge funds appear to be emerging from their dark periods as big investors put money to work again in anticipation of performance, according to a new study from Barclays. Barclays capital solutions group surveyed 335 hedge fund investors representing approximately $6.7 trillion in total assets under management and about $874 billion in hedge fund AUM. The Barclays team also engaged in one-on-one conversation with more than 150 of those investors. What they found was that investors are reducing their long-only exposure to stocks and fixed income and increasing their allocations to hedge funds and other alternatives such as private equity and real estate. Money flowing in Barclays estimates that hedge fund industry inflows will be $40 billion in 2018. Barclays has a track record of being within 80% of the total inflows that are reported each year by Hedge Fund Research. Last year, they correctly estimated the exact number of inflows. Barclays also notes that investors are also anticipating fewer redemptions this year. Such an outcome after the redemption of 2016 and a relatively flat 2017 would signify a notable shift in investor sentiment and a renewed confidence in the industry, Barclays wrote. 2018 is expected to be a good year for hedge fund inflows. For the last five years, hedge funds, on average, have struggled to beat the broader market. The 2015 and 2016 calendar years, in particular, were especially brutal for the industry. In 2016, investors yanked $70.1 billion out of hedge funds, according to HFR data. Back in 2016, some of the industrys most prominent voices even shared their criticism, including Daniel Loeb of Third Point who predicted that there would be a washout in hedge funds and Point72s Steve Cohen who said that theres a lack of talent. And Warren Buffett of Berkshire Hathaway has long characterized the fees hedge funds charge as unbelievable. REUTERS/Dado Ruvic The tide may be starting to turn. The 2015-2016 drawdown was notable in its severity, behind only the 2008 global financial crisis and 2011 Eurozone crisis in magnitude, and behind only the 2008 crisis in length (peak-to-trough), Barclays wrote. The recovery, however, has been brisk. The [hedge fund] industry as a whole delivered 9.2% annualized returns, or 8.1% net of the risk-free rate, significantly higher than during the recovery phase post the Eurozone crisis and above the long-term average returns for the industry. Story continues In 2017, the HFRI Fund Weighted Composite Index posted gains of 8.54%, with positive performance every month. Furthermore, the recovery has been reminiscent of the returns delivered during the pre-2008 crisis golden years, especially when considering the risk-free rate. Furthermore, 2017 was the first perfect calendar year since 2003, with positive returns delivered every month. That positive performance streak continued into January, but in February the HFRI Fund Weighted Composite Index declined 1.8%. Industry assets were at an all-time high in 2017 of $3.2 trillion. Hedge fund industry assets have grown by 43% since 2012 and Barclay expects it to grow to $3.4 trillion by the end 2018. Fewer managers benefitting According to the survey, investors are most interested in putting their money with sector-focused equity funds, equity market neutral funds, and systematic strategies including equity and CTA. The recent trend of quantitative strategies is also expected to continue. That said, investors are also going to be looking to put their money with fewer managers. While these market conditions may create a sense of a rising tide lifts all boats, manager selection remains a key component to investor performance, especially during bear markets, Barclays wrote. One of the issues plaguing the industry was that there were just too many hedge funds, with most unable to deliver the performance. Some estimates have put the number of funds at more than 10,000 and as many as 15,000. For the last three years, there have been more hedge fund liquidations than launches. Approximately 784 hedge funds closed shop in 2017, compared to 735 that opened, according to HFR. In 2016, 1,057 called it quits, while 729 launched. In 2015, 979 closed compared to 968 that opened. A washout in hedge funds can be seen as a good thing for those left standing as more money is put in play thats now being allocated to fewer managers. Barclays notes that hedge fund portfolio concentration has been a trend since 2013. Back in 2013, investors had an average of 19 hedge funds in their portfolio. In 2017, that number was 16, a decrease of 16%. Of course, not all of the challenges are going away for hedge funds. Barclays expects that hedge fund will continue to face pressure from investors to lower their fees. Underperformance tends to reignite the age-old debate about hedge fund fees. Historically, fund managers are paid through a compensation structure commonly known as the 2 and 20, which means they charge investors 2% of total assets under management and 20% of any profits. The fees can vary from fund to fund, with some charging less and others charging more. Fees have come down, though. According to the Barclays survey, investors are paying on average 1.44% in management fees and 16.8% in performance fees. Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter . Buffetts bet against the hedge funds had an unforeseen investment lesson Munger: Bitcoin is poison and the government needs to step on it hard Munger: You wont get the returns Buffett and I got by doing what we did || Better Stock: Walmart vs. Macy's: RetailersWalmart(NYSE: WMT)andMacy's(NYSE: M)have their work cut out for them as they struggle to cope with theAmazon(NASDAQ: AMZN)effect of more people shopping online and expecting top-notch convenience.
It's tempting to think Amazon is taking over all of retail, but Walmart and Macy's are fighting back. While Walmart has taken to some exciting acquisitions and to bolstering its online presence, Macy's has been focusing on selling emptyproperties. Walmart stock rose 43% last year while Macy's dropped 30%, but does that mean Walmart is the better buy? Let's take a closer look.
Walmart has fought back hard against Amazon. Image source: Walmart.
Both Walmart and Macy's are in the battle of their lives to stay in the e-commerce game. Competition has been fierce, prompting big players to bump up their M&A activity, such as with the acquisition of Jet.com by Walmart in late 2016.
In the months since the Jet.com purchase, Walmart has acquired a number of online retailers, including ModCloth, Bonobos, and Moosejaw. Then in October 2017, WalmartpurchasedBrooklyn-based express delivery service Parcel to help it offer speedier delivery. These purchases have given Walmart a sizable advantage over Macy's, which has been quiet on the M&A scene.
In the 12 months ending Oct. 31, 2017, Walmart notched $495 billion in total revenue. Revenue in the final quarter of that period was 4.2% larger than in the year-ago period. Walmart is growing and leaning into the new age of e-commerce, and it shows. Meanwhile, in the 12 months ending Oct. 28, 2017, Macy's notched $24.7 billion in revenue. Sales in the final quarter of that period were down 6.1% from the year-ago period. That decline reflected the closing of stores.
[{"Metric": "Revenue", "Walmart": "$495 billion", "Macy's": "$24.7 billion"}, {"Metric": "Net income", "Walmart": "$11.4 billion", "Macy's": "$697 million"}, {"Metric": "Levered Free cash flow", "Walmart": "$17.8 billion", "Macy's": "$1.8 billion"}, {"Metric": "Cash and equivalents", "Walmart": "$7.0 billion", "Macy's": "$534 million"}, {"Metric": "Long-term debt", "Walmart": "$34.6 billion", "Macy's": "$6.3 billion"}]
Data source: Capital IQ. Numbers from 12 months ending Oct. 31, 2017.
While Walmart has over five times more debt than Macy's, it crushes Macy's in every other category in that table. Walmart's revenue is more than 20 times Macy's revenue, and its net income is about 16 times Macy's net income. Furthermore, Walmart has $16 billion more in levered free cash flow and $6.5 billion more in cash and equivalents.
The chart below gives a better visualization of Walmart vs. Macy's. Even with the heightened M&A activity, Walmart is growing its revenue, and its cash from operations is heading up. Meanwhile, Macy's cash from operations has plummeted, and its revenue is still on a downward trend.
M Cash from Operations (TTM)data byYCharts.
As of this writing, Walmart's stock is up an incredible 48% in the past year as investors have welcomed its aggressive moves into e-commerce.
By now, you can probably guess how Macy's stock is performing. Shares of the retailer are down 23% in the past year. In the first month of 2018, Macy's shares got a slight boost, partly due to Macy's revising its full-year earnings per share guidance slightly upward after abetter-than-expectedNovember-December holiday period.
Macy's is a seemingly cheap stock with a forwardP/Eof 8.9. However, Walmart's forward multiple of 22.2 compares favorably with the average retail forward P/E, which is 19.62 as of January, according to analysis by NYU Stern School of Business. And Walmart has the more solid balance sheet.
While P/E isn't the only metric investors should look at, it's important to remember that Macy's is also struggling to come up with other revenue streams. Some think Macy's earnings aren't sustainable in the long term since they include the sales of its empty real estate properties. In the latest quarter, Macy's got a boost from $65 million of asset sales, and that strategy is expected to continue throughout 2018.
The choice is clear for me. Walmart has been aggressive with buying strength in the e-commerce space, and could announce some exciting updates in relation to its purchase of Parcel that could help it better compete with Amazon's fast shipping. I can see that a turnaround is happening and that the company is in fighting mode.
On the other hand, Macy's has been relying heavily on selling old properties rather than investing in exciting tools or companies that can help propel it into the e-commerce age and out of the mall era. Walmart is the better buy.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Natalie Waltershas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. || Don't Get Greedy With Clean Energy Fuels Corp. Stock: Clean Energy Fuels Corp.(NASDAQ: CLNE)was once one of the most promising alternative fuels stocks on the market. The company's natural gas products made sense for buses and semi trucks around the country, and it had a built-in cost advantage over traditional diesel engines if only the company could get its consumers to adopt the technology.
As 2018 unfolds, it appears that the opportunity is dwindling for Clean Energy Fuels, and the company is entering a financially risky position. It may seem tempting to bet on a recovery, but Iwouldn't get greedy with Clean Energy Fuels today.
Image source: Getty Images.
Some of Clean Energy Fuels' challenges aren't actually the company's fault. It still has a cost advantage over diesel, and natural gas is a much cleaner-burning fuel, but other alternatives have become more attractive. The biggest threat is batteries, which have become so cheap and efficient that they're becoming a viable alternative for large vehicles.
Proterrais taking electric buses mainstream and offers customers models that have aEV range of 49 to 350 miles, depending on their need.Tesla's(NASDAQ: TSLA)Semi has also garnered early orders from the likes ofUPS,PepsiCo, andWal-Mart, showing theearly viability of electric semis. Every major truck manufacturer is investing in EVs, not natural gas, which should tell you everything you need to know about the company's future.
As large EV vehicles grow, Clean Energy Fuels sales are shrinking. Since 2015, sales have been in decline, and financial losses are piling up.
CLNE Revenue (TTM)data byYCharts.
If an emerging source of energy like natural gas isn't growing, it's going to be crushed by better, more cost-effective technologies coming behind it. I think it's clear that electric powered vehicles are already proving to be more attractive to consumers at this point than natural gas.
I'll admit that Clean Energy Fuels has been able to lower long-term debt significantly over the past two years. But if you look at the chart below, you can see that the reduction in debt has been driven by share issuances, not cash generated by operations.
CLNE Total Long Term Debt (Quarterly)data byYCharts.
A company can issue shares to stay alive for a while, but not forever. With shares trading at only $1.43 as I'm writing, the funding options are already dwindling for Clean Energy Fuels.
There doesn't seem to be much hope for Clean Energy Fuels with little traction in its traditional markets of buses and semis and net technologies like electric vehicles becoming more attractive. Long term, I don't see any sort of recovery for the company, and the writing may already be on the wall for its downfall. This is a low-priced stock already, but I think it will continue to underperform the market, which is why I'm giving it a thumbs-down rating onMyCAPS-- I certainly wouldn't get greedy with this stock.
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Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Clean Energy Fuels and Tesla. The Motley Fool has adisclosure policy. || Can Google Take On Microsoft and Amazon in This High-Growth Business?: Alphabet(NASDAQ: GOOG)(NASDAQ: GOOGL)continues to build upon its formidable lead in digital marketing. According to eMarketer, Alphabet/Google is estimated to take nearly 43% of all U.S. digital advertising, a figure thought to be $40 billion after traffic acquisition costs.
While Google's digital marketing empire is enough to support its stock price, the company has been aggressive in its efforts to develop additional revenue sources. A natural fit for Google is to expand its presence in high-growth cloud computing organically or via acquisition.
According to Diane Greene, CEO of Google Cloud, the company is taking an all-of-the-above approach, working to compete versus the cloud giants in its current form while looking to make a major acquisition -- if it makes sense and is reasonably priced.
Image source: Getty Images.
Google finds itself behind cloud leadersAmazon.com(NASDAQ: AMZN)andMicrosoft(NASDAQ: MSFT). Although Amazon is often considered the clear leader, surprisingly, Microsoft has a larger run rate (revenue attributable to the cloud), at $21.2 billion versus $20.4 billion from Amazon Web Services (AWS).
The discrepancy is due to the semantics of what constitutes cloud revenue. When most people think oftraditional cloud computing, they refer to the base layer of the cloud stack, infrastructure-as-a-service, or IaaS. That is where Amazon continues to lead with AWS. However, when you include revenue attributable to the full cloud stack, especially software-as-a-service, or SaaS, then Microsoft takes the lead.
While SaaS is typically the cloud stack most directly interacted with, it is often not considered true cloud revenue by many industry purists. The choice of whether to include SaaS in cloud revenue often depends on what narrative you choose to believe. Those who tend tonot consider SaaS as true cloud revenue support Amazon. Those who include SaaS support Microsoft,due to Office 365 subscription revenuecomprising a large percentage of its cloud-based revenue.
Unfortunately, Microsoft doesn't report separate numbers for its Azure product, which is often considered an apples-to-apples comparison to AWS in the IaaS part of the cloud stack. Analysts estimate Azure revenue has a run rate of $5.4 billion. As a comparison, Greene recently noted Google Cloud has a $1 billion per quarter run rate ($4 billion), but like Microsoft it reports full-stack revenue including SaaS.
It's likely that Google is looking for two key prerequisites in a potential acquisition target. The first is a company that would complement Google Cloud's perceived weak areas in the stack. As previously mentioned, Microsoft has the cloud lead, in part, due to its fully integrated stack offering.
The second, perhaps more important, prerequisite is that the acquisition would help Google better compete versus Amazon and Microsoft in the enterprise. Greene raised eyebrows when she noted investment bankers have pitched floating deals for Google to acquire enterprise-software firms likeRed HatandServiceNow, which would check both boxes by helping the company offer more-comprehensive full-stack enterprise solutions.
However, even if Google doesn't announce a splashy cloud acquisition, the company could still be working to build its cloud-based revenue. Recently, Google andCiscoannounced a hybrid-cloud partnership with a focus on enterprise applications and security. In the short run, it's unlikely Google Cloud will surpass AWS and its IaaS leadership due to lock-in effects, or Microsoft and its full-stack solution, but the cloud market is not winner take all.
Look for Google to grow revenue attributable to the cloud, which will show up in the "Google other revenues" section of its financial reports.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Jamal Carnette, CFAowns shares of Alphabet (C shares) and Amazon. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Amazon. The Motley Fool has adisclosure policy. || The Market In 5 Minutes: Jobless Claims Fall, 10-Year Treasury Yields, Twitter Makes Some Changes: IN THE NEWS
Among thematic exchange-traded funds, two of the most popular focus on the artificial intelligence and robotics investment themes. At least one ETF issuer thinks there's room for another artificial intelligence and robotics fund:Link
Apple Inc.(NASDAQ:AAPL) has a track record of cutting out the middleman and taking control of its supply chain, and Bloomberg reports that Apple is now in talks to buy cobalt directly from miners:Link
As business owners pore through the new tax law, many are asking themselves a fundamental question: Will changing how their company is structured cut their tax bills?: Link $
HowGE(NYSE:GE) gambled on fossil fuel power, and lost:Link
Twitter Inc(NYSE:TWTR) said on Wednesday it would no longer allow people to post identical messages from multiple accounts, cracking down on a tactic that Russian agents and others have allegedly used to make tweets or topics go viral:Link
At this point, it’s more likely a matter of when -- not if -- the 10-year Treasury yield hits 3 percent. And that apparent inevitability raises a pressing question: How to trade when it happens?: Link
What would you do if you were king for a day? Cure cancer? Bring peace to the land? For Apple Chief Executive Tim Cook, the answer is simple: End the quarterly earnings report: Link
ECONOMIC DATA
• Initial Jobless Claims for Feb 16 222.0K vs 230.0K Est; Prior 230.0K. Continuing Claims for Feb 9 1.88M vs 1.93M Est; Prior 1.94M
• New York Federal Reserve Bank President William Dudley will speak in New York at 10:00 a.m. ET.
• The index of leading economic indicators for January is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
• The Kansas City Fed manufacturing index for February is schedule for release at 11:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 11:00 a.m. ET.
• Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, Georgia at 12:10 p.m. ET.
• The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
• Dallas Federal Reserve Bank President Robert Kaplan will speak at 3:30 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
• RBC upgradedClovis(NASDAQ:CLVS) from Sector Perform to Outperform
• Susquehanna upgradedKLA-Tencor(NASDAQ:KLAC) from Negative to Neutral
• Jefferies downgradedAlkermes(NASDAQ:ALKS) from Buy to Hold
• HSBC downgradedTelecom Argentina SA(NYSE:TEO) from Hold to Reduce
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
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© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Twitter Is Trying to Halt Cryptocurrency-Related Scams on Its Platform: Twitter Inc. is attempting to halt alleged cryptocurrency-related scams spreading via its platform, joining fellow social media companies in striving to cut down on harmful content.
Twitter is aware of cryptocurrency-related “manipulation,” and is implementing measures to “prevent these types of accounts from engaging with others in a deceptive manner,” a spokesman told Bloomberg, declining to elaborate further.
FacebookInc. recently banned ads tied to cryptocurrencies, initial coin offerings and binary options, saying they were associated with misleading and deceptive practices. However cryptocurrency ads have still found their way onto Facebook.
Twitter issued its statement in response to a Bloomberg inquiry regarding the restriction of the @Bitcoin handle. It declined to comment on personal accounts for security reasons. Upon visiting the profile, a caution note appears saying: “Caution: This account is temporarily restricted. You’re seeing this warning because there has been some unusual activity from this account.”
The @Bitcoin account describes itself as a site for “Bitcoin News, Information and Price Tweets.”
The verified account that provides customer service to Kraken users said on Tuesday that it had been banned from Twitter for trying to alert its customers to the various ways thieves are stealing digital assets online. Kraken, one of the largest cryptocurrency exchanges, later got its ban lifted for its customer support account.
Twitter Chief Executive Officer Jack Dorsey has also waded in on the issue. In a response to a Twitter comment on March 6 by Emin Gün Sirer, an associate professor at Cornell University, regarding alleged cryptocurrency scams, Dorsey replied “We are on it.”
“Crypto-spam reached untenable proportions recently,” Sirer told Bloomberg. “It was impossible to discuss any topic without having some spammer jump in, impersonate a cryptocelebrity, and try to collect coins from people with promises of easy gains.”
Regulators have started to crack down on the cryptocurrency industry. The U.S. Securities and Exchange Commission said it got a court order freezing the assets of an alleged initial coin offering scam by AriseBank. On Friday Mark Carney, the Bank of England governor, called for greater regulation to bring the era of cryptocurrency “anarchy” to an end. || Hormel Stock Split History: When Will the Dividend Aristocrat Split Again?: From a business standpoint, Hormel Foods (NYSE: HRL) is a pretty typical company, with an emphasis on meat processing and food products that has made it a household name for millions of Americans . For investors, the impressive combination of regular dividend increases and frequent stock splits puts its shares into elite ranks. Ambitious investors want to know when Hormel's stock price is likely to get back to levels that could prompt another decision to split its stock. Let's look more closely at Hormel to see what's coming next for the company and whether another split could be just around the corner. Hormel's history of stock splits Here are the dates and split ratios for the stock splits that Hormel has done in the past: Date of Split Split Ratio 100 Shares in 1959 Would Now Be Jan. 29, 1960 2 for 1 200 shares Feb. 2, 1968 2 for 1 400 shares Nov. 22, 1971 2 for 1 800 shares Jan. 30, 1980 2 for 1 1,600 shares Aug. 19, 1985 2 for 1 3,200 shares April 4, 1987 2 for 1 6,400 shares Jan. 31, 1990 2 for 1 12,800 shares Jan. 26, 2000 2 for 1 25,600 shares Feb. 1, 2011 2 for 1 51,200 shares Jan. 26, 2016 2 for 1 102,400 shares Data source: Hormel investor relations. As you can see, Hormel has been splitting its stock for a long time. It's always been a believer in two-for-one splits, never being content to go with more modest ratios that some companies have used in order to prompt more frequent split decisions. Splits have tended to come at roughly five- to 10-year intervals. Hormel hasn't always used the traditional approach in choosing when to split its shares. In 1987, Hormel shares were at about $50 per share before splitting, but shortly before the 1990 move, the company had only seen its stock climb into the $30s. Similarly, back in 2000, Hormel was priced below $50 per share when it did a two-for-one split, and subsequent price declines sent shares into the teens shortly thereafter. Story continues Over the ensuing decade, Hormel waited a bit longer before splitting. But in 2011, the stock price was only in the $50s when the company decided to do a stock split, pushing the post-split price down into the $25 to $30 per share range. Only by 2016 did the company use a more typical benchmark for doing a stock split. The company waited until its stock had climbed all the way toward $90 per share before splitting its shares, sending the price back into the $40s. Hormel pepperoni label Image source: Hormel. Why Hormel stock splits don't follow a typical pattern One big reason why Hormel doesn't follow a typical approach for stock splits is that it puts a high priority on dividends. The company is a member of the elite Dividend Aristocrats , with 52 years of consecutive annual dividend increases. At 2.25%, its dividend yield isn't stellar, but regular payouts have taken some of what would otherwise have gotten incorporated into share-price appreciation and instead paid it directly to its shareholders. Hormel is also generous with its dividend increases. The most recent one early this year boosted the payout by more than 10% to $0.1875 per share on a quarterly basis, and sizable dividend growth has been a regular feature for the food company. Without the downward pressure on the stock that dividend payments make, Hormel would likely have been in position to do stock splits a lot more often. Could a Hormel stock split be coming soon? For most companies, it would be almost inconceivable that a split could happen for a stock whose price was in the mid-$30s. For Hormel, however, unusual stock split behavior is the norm. Yet with the company having just done a split two years ago, it's more likely that Hormel will wait at least a little longer rather than pulling the trigger on a stock split in 2018. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Realty Income Earnings Show Why the Stock Is a Screaming Bargain: Thanks to rising interest rates and retail sector headwinds, leading net-lease REIT Realty Income (NYSE: O) has fallen 16% so far in 2018 and by more than 33% since peaking in mid-2016. However, Realty Income's business has been doing quite well, and its year-end 2017 earnings show that nothing has changed in that respect. Here's a rundown of Realty Income's fourth-quarter and year-end 2017 performance, and why now could be a great opportunity to add this stock to your portfolio for decades to come. Sale sign in storefront window. Image source: Getty Images. The headline numbers Realty Income's full-year adjusted FFO came in at $3.06, a 6.3% increase over last year and toward the high end of its guidance. Full-year revenue increased by 10.2% to $1.22 billion, an impressive gain. For the fourth quarter, the company's adjusted FFO increased by a penny to $0.76 per share, just shy of expectations, and revenue was 8% higher than it was a year ago. Investors were clearly pleased with the results, as the stock was up by more than 2% after the report. It's a bad retail environment, but not so much for Realty Income Many investors are hesitant to buy any stock related to retail, and with the recent wave of high-profile bankruptcies, store closures, and once-strong national chains that are now hanging on for dear life, who could blame them? However, as I've written many times, Realty Income invests in the right kind of retail for this environment. The vast majority of its retail tenants are in e-commerce-resistant businesses. Service-oriented businesses like convenience stores, deep-discount retail like dollar stores, and non-discretionary businesses like drug stores are good examples. In fact, of the 24 major retail bankruptcies in 2017, 21 of them didn't have a service-oriented, low-price, or non-discretionary component. Despite the wave of bankruptcies in 2017, less than 1% of Realty Income's portfolio was affected. Additionally, the company has less exposure to retailers in industries where bankruptcies have occurred than its peers do. Story continues Furthermore, Realty Income's credit (A3/BBB+) and financial strength (27.4% debt-to-capitalization) allow a lower cost of capital than peers, which allows it to invest in higher-quality properties while still achieving superior investment returns. The proof is in the numbers. Realty Income finished 2017 with 98.4% portfolio occupancy, matching its highest year-end level in a decade. Looking forward, Realty Income expects solid growth in 2018. Its initial 2018 AFFO guidance range of $3.14 to $3.20 represents 3%-5% growth, and the company has a strong record of revising its guidance ranges upward throughout the year. The company also expects to acquire $1 billion-$1.5 billion in properties for the year. Other highlights of the quarter and full year During the fourth quarter, Realty Income's credit rating was upgraded to an "A3" by Moody's. Few REITs have an "A" rating. Realty Income completed $1.52 billion in acquisitions, including $562.5 million during the fourth quarter alone. As of Dec. 31, 2017, Realty Income owned 5,172 properties. Same-store rent increased 1% year over year, which is typical for net-lease commercial properties. A great long-term bargain Realty Income now trades for just 15.3 times the midpoint of its 2018 AFFO guidance, a historically low valuation for this rock-solid REIT that has increased its dividend 95 times since its 1994 NYSE listing. Not only that, but the stock yields a hefty 5.4% dividend that is paid in ultra-reliable monthly installments. While the retail sector may be weak overall and interest rates may be on the rise, Realty Income is a long-term winner, and now could be a great time to get in while it's on sale. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew Frankel owns shares of Realty Income. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || AT&T Is Doubling Down on the Bundle: AT&T(NYSE: T)surprised Wall Street when it reported 329,000 postpaid phone net additions in the fourth quarter. Management says it owes a large part of that number to its record low fourth-quarter postpaid phone churn of 0.89%. Moreover, that low churn is the result of its bundling strategy, packaging wireless and video together to save customers money.
CFO John Stephens says AT&T added over 700,000 phone customers who bundled their wireless service with video in the fourth quarter. That seems to be primarily driven by AT&T's offer to save customers $25 on DIRECTV Now for Unlimited Choice subscribers. DIRECTV Now subscribers grew by 368,000 in the quarter, its best quarter yet.
"We believe very strongly that combining video with our mobile product is a really important element, and you will see us continue to do that," CEO Randall Stephenson said on AT&T'sfourth-quarter earnings call. In fact, with increased competition fromT-Mobile(NASDAQ: TMUS),Sprint(NYSE: S), andVerizon Communications(NYSE: VZ), Stephenson says the company will "probably take it to new and different levels."
Image source: AT&T.
AT&T isn't the only carrier looking to bundle its wireless service with a video service. Both T-Mobile and Sprint introduced their own bundles last fall. T-Mobile One subscribers now get free access to Netflix, and Sprint's unlimited customers get Hulu. Verizon is actuallythe only major carrierthat doesn't include a free streaming service subscription with its wireless service. AT&T subscribers get free HBO.
Stephenson says the moves by T-Mobile and Sprint are "an indication that [AT&T's] having success."
The benefits of the bundle are clear. AT&T's management says it's the second-biggest driver of customer retention after customer satisfaction. T-Mobile CFO Braxton Carter explained, "To the extent that you can bundle more in, the retention characteristics in a multibundle situation are very different versus a single-product situation." And that's shown up in churn rates across the board, not just for AT&T and not just in wireless.
AT&T is also bundling its home internet service with video and seeing positive retention results. DIRECTV satellite subscribers that also subscribe to AT&T's Fiber internet service churn at half the rate of those that don't bundle. As Fiber rolls out to more markets, AT&T has an opportunity to win more subscribers through bundling.
Management is very upbeat about the profit potential from bundling. "Bundling allows us to have profitability from that combined account," Stephens said on the earnings call. "It also creates higher value, lifetime value, for each of those customers." While the customers might be profitable, they're not as profitable as they once were.
EBITDAmargin for AT&T's entertainment group, which includes its home internet and television businesses, fell 170 basis points to 19.1%. That may be due in large part to the influx of DIRECTV Now subscribers taking advantage of AT&T's generous $25 off bundle. AT&T notably changed the discount to $15 in the middle of the quarter.
Meanwhile, AT&T's consumer mobility segment suffered a similar drop in EBITDA margin as service revenue continues to decline. Management says it expects service revenue growth to turn positive at some point this year on the back of improved subscriber retention.
AT&T's shrinking margins don't compare well to Verizon's, which saw EBITDA margin improve nearly 3 percentage points last quarter. And remember, Verizon isn't using a bundling strategy. (Verizon also produced lower churn than AT&T.)
So while the bundling strategy appears to be working in adding additional subscribers, those subscribers are less profitable than they once were. Of course, it's much better than losing subscribers and not growing at all.
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Adam Levyowns shares of Verizon Communications. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool recommends T-Mobile US. The Motley Fool has adisclosure policy. || Even Elon Musk doesn’t buy into the Bitcoin hype: Although Bitcoin has captured the hearts and minds of amateur gamblers and Ponzi schemers, it’s still an orphan child among most financial managers. Warren Buffett thinks the crypto-currency “ will come to a bad ending ,” while his long-time adviser Charlie Munger described it as “ noxious poison .” Now, Elon Musk doesn’t fit any stereotype about multibillionaire CEOs — unless you’ve been watching too many Iron Man reruns — but he also doesn’t appear to be on the hype train. He does own a tiny amount of Bitcoin, but as he recently revealed, it’s not even enough to buy new tires for his Tesla. Don't Miss : Apple’s $200 AirPower will supposedly launch next month, but this $36 model is available now In a tweet (very) early this morning, Musk said that his friend sent him 0.25BTC a few years ago, but that’s all the crypto he has: In another tweet last year, Musk said the same thing, but said he doesn’t even know where the money is. At today’s pricing, the 0.25BTC is worth around $2,500. Musk was responding to a question about why Twitter has been inundated with fake Elon Musk accounts, all trying to scam users with a very 21st-century version of the old Nigerian Prince scam. Normally, it’s an account set up to look a lot like Elon, which promises to give away 0.2 Ethereum to anyone who wants it, out of the good of his own heart. The only catch is, you have to send 0.02 Ethereum to Elon first, so he knows where to send your money. Weirdly, the scam has been working, and blockchain records show that a few thousand dollars have been raised so far, at least. Musk said in his tweet that he’s brought the issue to Twitter’s attention before, but nothing has been done. Presumably, they’re too busy banning all those Russian bot accounts and the Nazis. BGR Top Deals: Apple’s $200 AirPower will supposedly launch next month, but this $36 model is available now This 6-speaker home theater system give you impressive surround sound for $90 Trending Right Now: AT&T didn’t waste any time abandoning net neutrality Google teases new Android devices that might have an advantage over the Galaxy S9 NASA captures Jupiter’s south pole as you’ve never seen it before See the original version of this article on BGR.com
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Cash price rises 10% as crypto market continues muted recovery - https://ift.tt/2JhTGjm || If they look good they are most likely a boy, sad but true. || アイラブBTC
アイラブマネックス || Bitcoin - BTC
Price: $7,507.00
Change in 1h: +0.86%
Market cap: $127,288,782,084.00
Ranking: 1
#Bitcoin #BTC || 2018/03/19 17:00
#BTC 886912円
#ETH 58425.3円
#ETC 1819.6円
#BCH 101020円
#XRP 70.3円
#XEM 30.6円
#LSK 1341.2円
#MONA 413円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || #neobanks #baas https://buff.ly/2Egw4Yv
Newegg Announces Bitcoin Payment Option Extension to Canada || #cryptocalypse How much money can be made from bitcoin? http://bit.ly/2ASJug6 pic.twitter.com/VfriGigr1y || #NewYorkCoin On #Facebook
- #community https://www.facebook.com/NewYorkCoinCommunity/ …
- #stores https://www.facebook.com/nycoinmarket/
$NYC.X #P2P Coin, #opensource, 2014 #BTC #fork #decentralized, the fastest, network #feeless, world wide #business #payment
PRESENTATION: 18 april 2018 18:30-21:00 625 6th Av NYCity pic.twitter.com/uGqZP3vtGd || SELL
Payment method: SEPA
Offer ID: yedf1u
Amount: 0.12 BTC
Price for 1: 8560.00 EUR
Maximum: 1027.20 EUR
Distance: -1.99% || Join our group to earn a lot of money from the crypto hype! Invite your friends and become rich together: https://twitter.com/pumpdumpBinance | https://t.me/binancepumpdump01 … #crypto #cryptocurrency #Binance #Bitcoin #Etherneum #Ripple #ETH #TRX #XRP #XLM #WTC #VEN 1804060835
|
Trend: up || Prices: 7889.25, 7895.96, 7986.24, 8329.11, 8058.67, 7902.09, 8163.42, 8294.31, 8845.83, 8895.58
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-08-07]
BTC Price: 11941.97, BTC RSI: 63.84
Gold Price: 1507.30, Gold RSI: 81.78
Oil Price: 51.09, Oil RSI: 33.75
[Random Sample of News (last 60 days)]
Critics say Facebook's Libra isn't really a cryptocurrency: Facebook’s ( FB ) cryptocurrency executive David Marcus was grilled by members of the Senate Banking Committee Tuesday on Libra, the company’s planned cryptocurrency. But some of the project’s biggest skeptics are in the crypto community. Cryptocurrency investors, engineers, and entrepreneurs have expressed a host of concerns over Libra — from Libra’s lack of clear plans around know-your-customer/anti-money laundering protections, to the risk of regulatory scrutiny spreading to large-cap cryptocurrencies like bitcoin ( BTC-USD ), to Facebook’s potential to tax the global electric grid. Some say Libra isn’t really a “cryptocurrency” at all. Is Libra a cryptocurrency? Meltem Demirors, chief strategy officer at digital asset manager CoinShares, said the primary problem is Facebook’s representation of Libra as a cryptocurrency. “My issue is, Facebook has chosen to style this as a ‘cryptocurrency,’” Demirors told Yahoo Finance’s On the Move . Facebook’s framing of Libra, Demirors said, has led media and lawmakers to say “what they’re doing is just like bitcoin and should be treated similarly, and it’s fundamentally not.” “They’re using cryptocurrency for marketing,” she added. Demirors — who is due to testify about Libra before the House Financial Services Committee on Wednesday — wants regulators to understand the differences between “open, public, permission-less digital currency networks,” like bitcoin, and Libra, “an entity that benefits Facebook and a small group of participants in this Libra association.” Meanwhile, one blockchain engineer thinks the Libra concept is unusually half-baked for a giant like Facebook. “‘Make it up as we go along’ is reasonable for a seed-stage startup, but not something one would expect from a half-trillion-dollar tech company — especially not one that’s collecting $10 million checks from prospective members,” wrote Elaine Ou, a blockchain engineer at Global Financial Access who attempted to take Libra for a test drive using a prototype released by Facebook. Story continues David Marcus, Head of Calibra at Facebook, testifies about Facebook's proposed digital currency called Libra, during a Senate Banking, House and Urban Affairs Committee hearing on Capitol Hill in Washington, DC, July 16, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images) The Libra Association Facebook first announced Libra last month, when it introduced the Libra Association, a Geneva-based consortium of big-name “founding members” including Visa, MasterCard, PayPal, Stripe, Uber and Lyft. Despite that glitzy list, lawmakers clearly see Libra as Facebook’s thing — and crypto insiders doubt Libra can ever be truly “decentralized” like bitcoin and other cryptocurrencies are. Libra and Calibra, Facebook’s subsidiary working on a digital wallet to store and send Libra, are both set to launch in 2020. That timeline may be pushed back if regulators have their way. “I'm hopeful that Facebook heard this today, heard the outcry from so many saying, ‘Stop. Don't do this,’” Senator Sherrod Brown (D-Ohio) told Yahoo Finance’s Jessica Smith following Tuesday’s hearing. “You should not be the new central bank for the world. We don't trust you to do that. You've betrayed the public interest so many times. You've broken that trust.” Another, two-fold risk of Calibra potentially being downloaded by Facebook’s 2.4 billion users: the electricity needed to mine a cryptocurrency at that scale, and the possibility of hacking or failure of a financial network that large. “I think that would be a very serious concern I would have as far as the environmental sustainability of the mining required. But then also just the security of the underlying electricity system necessary to power this scale of ambition. And I'm not sure Facebook has really thought all the way that far down the chain,” said Bryan Leach, CEO of mobile shopping app Ibotta. Facebook’s Marcus is set to appear before the House Financial Services Committee Wednesday afternoon. Julie Hyman is the co-anchor of On the Move on Yahoo Finance. Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , LinkedIn , YouTube , and reddit . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/06/19: Bitcoin Cash ABC surged by 9.93% on Saturday. Following on from a 5.13% rally on Friday, Bitcoin Cash ABC ended the day at $480.
A choppy start to the day saw Bitcoin Cash ABC rise from a morning low $436.65 to an early afternoon high $465.0.
Bitcoin Cash ABC broke through the first major resistance level at $448.64 and second major resistance level at $460.68.
An early afternoon slide to an intraday low $431.61 saw Bitcoin Cash ABC steer clear of the first major support level at $431.61 before rallying to an intraday high and new swing hi $515.70.
The rally saw Bitcoin Cash ABC break through the major resistance levels before easing back through the third major resistance level at $489.40.
At the time of writing, Bitcoin Cash ABC was up by 0.99% to $484.74. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $475.05 to a morning high $498.0 before easing back.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high $498 would support a run at the first major resistance level at $519.93. A broad-based crypto rally would bring $520 levels into play.
Bitcoin Cash ABC would need support from the broader market, however, to break out from $500 levels.
Failure to move back through the morning high could see Bitcoin Cash ABC hit reverse. A fall through the morning low to $468 levels would bring $450 levels into play before any recovery.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of the first major support level at $443.02.
Litecoin gained 1.6% on Saturday. Following on from a 2.36% rise from Friday, Litecoin ended the day at $141.46.
A relatively choppy day saw Litecoin rise to an early morning high $143.55 before sliding back to sub-$140 levels.
The early moves saw Litecoin break through the first major resistance level at $141.93. An early afternoon rally saw Litecoin strike an intraday high and new swing hi $146.0 before sliding to an intraday low $137.35.
Litecoin broke through the first major resistance level at $141.93 and second major resistance level at $144.82, while steering clear of the major support levels.
At the time of writing, Litecoin was down by 0.13% to $141.27. Litecoin rose to a morning high $142.2 before falling back to a low $140.27.
The relatively range-bound start to the day saw Litecoin steer clear of the major support and resistance levels.
For the day ahead, a hold onto $141 levels would support another run at the first major resistance level at $145.79.
Litecoin would need support from the broader market to take a run at the second major resistance level at $150.11.
Failure to hold onto $141 levels could see Litecoin fall through to $138 levels before any recovery.
Barring a broad-based crypto sell-off, Litecoin would likely leave the first major resistance level at $137.35 untested.
Ripple’s XRP rallied by 7.15% on Saturday. Following on from a 3.28% rise on Friday, Ripple’s XRP ended the day at $0.4780.
A bullish morning saw Ripple’s XRP rally from an intraday low $0.44322 to an early afternoon intraday high $0.51.
Ripple’s XRP broke through the major resistance levels before easing back to $0.46 levels. Finding support late in the day, Ripple’s XRP managed to hold above the second major resistance level at $0.4628
At the time of writing, Ripple’s XRP was up by 0.67% to $0.48120. A relatively range-bound start to the day saw Ripple’s XRP rise to a morning high $0.49328 before easing to a low $048259.
Ripple’s XRP left the support and resistance levels untested early on.
For the day ahead, a move back through to $0.49 levels would support a run at the first major resistance level at $0.5109.
Ripple’s XRP would need support from the broader market, however, to break through to $0.50 levels.
Barring a broad-based crypto rally, Saturday’s high $0.5100 and the first major resistance level at $0.5109 would likely limit any upside on the day.
Failure to move back through to $0.49 levels could see Ripple’s XRP slide through to $0.45 levels before any recovery.
Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of the first major support level at $0.4441.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Forex Daily Recap – Fiber Gained, Shrugging over Dovish ECB Stances || Bitcoin Climbs Above 10,728.7 Level, Up 0.65%: Investing.com - Bitcoin rose above the $10,728.7 threshold on Sunday. Bitcoin was trading at 10,728.7 by 00:59 (04:59 GMT) on the Investing.com Index, up 0.65% on the day. It was the largest one-day percentage gain since June 22. The move upwards pushed Bitcoin's market cap up to $190.7B, or 58.38% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $10,680.1 to $10,947.1 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 18.57%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $26.1B or 29.46% of the total volume of all cryptocurrencies. It has traded in a range of $8,959.8076 to $11,160.4580 in the past 7 days. At its current price, Bitcoin is still down 46.01% from its all-time high of $19,870.62 set on December 17, 2017. Elsewhere in cryptocurrency trading Ethereum was last at $314.82 on the Investing.com Index, up 3.23% on the day. XRP was trading at $0.48030 on the Investing.com Index, a gain of 5.88%. Ethereum's market cap was last at $33.4B or 10.22% of the total cryptocurrency market cap, while XRP's market cap totaled $20.4B or 6.24% of the total cryptocurrency market value. Related Articles Ethereum Climbs Above 318.04 Level, Up 6% Will PwCs New Software Solve the Cryptocurrency Auditing Problem? Price Analysis 22/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA || Japanese Crypto Exchange Bitpoint Restarting Trade Services: Japanese crypto exchange Bitpoint is resuming some trading services following a $28 million hack in mid-July. Bitcoin price against Japanese yen over last 7 days . Bitpoint is re-opening cash deposits and withdrawals in fiat currencies on August 6th following a safety assessment of the exchange’s cryptocurrency wallet. According to CoinDesk Japan , the hacked wallet is no longer in use and therefore not under threat. Margin trading services will begin August 9th. The exchange says margin trading utilizes a similar wallet to fiat withdrawals. Spot trading will open on August 13th. Related: North Korea Stole $2 Billion in Crypto and Fiat to Fund Weapons Programs Bitpoint confirmed later the stolen crypto assets included 1,225 bitcoin, 1,985 bitcoin cash, 11,169 ether, and 5,108 litecoin . Trading was quickly shut off by the platform thereafter including deposits and withdrawals. Parent company Remixpoint Inc. said $23 million of the $28 million were customer funds. The method or group behind the hack has yet to be disclosed with an investigation ongoing. On July 16th, Bitpoint said the 50,000 affected customers will receive funds back on a 1:1 basis. Image via CoinDesk archives Related Stories Ripple Extends University Investment Program to Japan BitFlyer, Sumitomo Aim to Wrap up the Property Rentals Business With a Blockchain App Japan Has FATF Green Light to Create ‘SWIFT Network’ for Crypto: Report || How Facebook's Libra Will Change the Cryptocurrency Landscape: Social media giant Facebook announced in June that it would launch Libra, a new cryptocurrency, in the first half of next year. Users will be able to buy things and send money to other people rapidly, anonymously and with fees of a fraction of a cent, and Facebook says it's targeting the unbanked. So what is Libra? How is it different from other cryptocurrencies? And are there investment opportunities in this new virtual currency? See Also: 2019's Hot IPOs: What the Analysts Think Spoiler alert: Libra is designed not to fluctuate much, so investing directly in the cryptocurrency probably won't do much for you. It could face steep opposition in Congress and from governments around the world. Moreover, you shouldn't invest in any cryptocurrency unless you're prepared to lose your entire investment. And although there are some indirect ways to invest in the crypto boom, these, too, are highly speculative. Here's what you need to know: How is Libra different from Bitcoin? Bitcoin is a virtual currency that has no central governing authority, such as a central bank. Users can buy and sell Bitcoins anonymously and use them to make untraceable purchases. Bitcoin uses blockchain technology--think of a decentralized ledger of transactions shared and maintained across a vast network of computers--that its advocates say makes counterfeiting impossible. Like Bitcoin, Libra will use blockchain technology and allow users to be anonymous. That's where the similarities end. What makes cryptocurrency problematic as a currency is that its price can swing wildly. Bitcoin, for example, has fluctuated between $1,914 and $19,345 over the past two years. But Libra's value will be tied to a pool of money in the Libra Reserve, which gets its cash from the members of the Libra Association, a Swiss nonprofit that will oversee the cryptocurrency. The association has 28 initial members, including Facebook, Visa and PayPal, as well as a few nonprofit organizations, such as Kiva, a microlender. Story continues Each member kicks in $10 million to the Libra Reserve. The Libra Association could grow to about 100 members, says Morningstar analyst Ali Mogharabi. You will be able to exchange Libras for money in the reserve, which in turn will be invested in various government bonds and currencies. The reserve's owners will pocket the interest from those investments. In order to use Libras, you'll need a crypto wallet, an app that lets you turn Libras into dollars (and vice versa). Facebook will offer a wallet through a subsidiary, Calibra, which will allow users to send money to anyone with a smartphone and may eventually allow direct purchases. You'll also be able use other wallets currently on the market to store Libras. Calibra will ensure the separation of social media information and financial information, Facebook says. [PULLQUOTE] Why is Facebook creating Libra? In a white paper, Facebook says Libra will help provide basic financial services to people who lack bank accounts. It will also make it easier for people in one country to send money to relatives in another country. With 2.4 billion users, Facebook will have a huge, ready-made pool of potential Libra users, all of whom could use the currency to buy things they see on the social network. Although Facebook says that data from those who use Libra won't be sold or used for targeted ads, skeptics abound. "They are not rolling out Libra for philanthropic reasons," says Adam Levin, Founder of CyberScout . "They are trying to find additional ways to scoop up information about people's habits." Nevertheless, Libra will allow Facebook to diversify itself from advertising revenue. Facilitating payments is a lucrative business. Mastercard, for example, sports a 56.9% operating margin, a measure of profitability that shows how much a company makes on each dollar of sales after paying for wages and materials but before paying interest or tax. "Everyone wants to get into payments, and now it's Facebook's turn," says John Freeman, vice president of stock research at CFRA. And Facebook will also get a slice of interest payments from the Libra Reserve fund. What are the drawbacks for Facebook? Facebook is already in the crosshairs because of consumer privacy concerns. In July, the Federal Trade Commission approved a $5 billion settlement with Facebook over its privacy practices. Libra will likely add to those worries. Congress has been scrutinizing tech giants such as Facebook, Google and Amazon for possible antitrust practices. The Federal Reserve, Securities and Exchange Commission and the Treasury have expressed concerns. Since news of Facebook's intention to debut an anonymous payment system, congressional hearing schedules have been filling up fast, and executives are facing a number of potentially grueling appearances on Capitol Hill. "With Facebook exerting such a tremendous amount of influence and power over politics, those writing legislation have a very personal motivation" to limit Facebook's influence, says Freeman. A broader worry is that the public may not trust Facebook enough to use Libra. All currency, whether crypto or paper, relies on trust for acceptance. Given consumers' concerns about their privacy on Facebook, the public could be slow to accept Libra. And although Bitcoins seem to be unhackable, the wallets that hold them are not, nor are the exchanges that trade them--and once your crypto wallet is hacked, your cryptocurrency is gone forever. (Facebook says it will refund users if their Calibra accounts are compromised and they lose their Libras, but it hasn't shared specifics.) What effect will Libra have on the rest of the cryptocurrency market? Bitcoin isn't the only cryptocurrency in the world--in fact, there are more than 1,000. After Bitcoin, some of the most widely traded cryptocurrencies include Ethereum, XRP, Litecoin and EOS. All other things being equal, if Libra becomes popular and accepted, it would draw investors away from other cryptocurrencies and push down their prices. But you shouldn't invest in any of them unless it's with money you're willing to lose. A stock has earnings and dividends behind it; the U.S. Treasury has the vast U.S. military behind it, as well as extensive policing powers. Bitcoin and other cryptos? Nothing. Joseph Stiglitz, recipient of the Nobel Prize in Economics, says Libra doesn't offer much, either. "Why would anyone give Facebook a zero-interest deposit, when they could put their money in an even-safer U.S. Treasury bill or in a money market fund?" he recently wrote in a syndicated column. One answer, of course, is to shield criminal activities because the transactions can't be traced. But people have made money in Bitcoin. What are the investment opportunities in Libra or other cryptocurrencies? People invest in Bitcoin simply because they hope its price will go up, that the next person will be willing to pay more than they did. This is known on Wall Street as the Greater Fool Theory. Libra's value will be tied to real currency, so there's not as much potential for it to rise or fall dramatically. You're unlikely to become a Libra billionaire, unless you're Mark Zuckerberg. Several companies do benefit from cryptocurrencies, but the benefits can be fleeting. Bitcoin mining, a process of solving complex math problems to get new Bitcoins and verify transaction ledgers, requires a vast amount of processing power. Stock in Advanced Micro Devices ( AMD ) has soared 80% this year, in part because its processors are prized for mining Bitcoin. However, application-specific integrated circuits, or ASICs, that are made especially for Bitcoin mining are now preferred. And demand for those chips rises and falls with the price of Bitcoin. Blockchain technology does have legitimate--and promising--business use. Financial services firms can use blockchain to keep records of complex trades and contracts. Nasdaq, for example, offers a blockchain service through its Nasdaq Financial Framework. Amazon.com offers a service for companies to create their own blockchain services. For now, we think blockchain technology is interesting to watch but not yet something most investors should put their money on. QUIZ: Are You Guilty of Insider Trading? And what about Facebook ( FB )? Morningstar's Mogharabi thinks that Libra won't do much for Facebook's earnings for the next few years. CFRA's Freeman agrees and says investors should be more interested in Facebook Watch, the company's YouTube competitor, which now has 140 million daily views--a fraction of YouTube's typical traffic, but growing. "That's the new thing from Facebook to get excited about," he says. EDITOR'S PICKS 10 Stocks That can Prosper From Lower Interest Rates 5 Biotech Stocks With Blockbuster Potential 20 Great Small-Cap Dividend Stocks Copyright 2019 The Kiplinger Washington Editors || Bitwise, Amun launch a new crypto ETP on Swiss stock exchange: Cryptocurrency asset manager Bitwise and Swiss fintech company Amun AG have launched a new exchange-traded product (ETP) on Switzerland’s top stock exchange SIX, and it promises to offer diversified liquid exposure to the nascent digital market.Bitwise has licensed “The Bitwise 10 Select Large Cap Crypto Index” to Amun AG, which will be used as the benchmark index for thenew ETPproduct - “Amun Bitwise Select 10 Large Cap Crypto Index ETP” with the ticker symbol KEYS.Notably, the ETP will not be available to U.S. customers, according to the statement from Bitwise.Bitwise said that the index will track the performance of up to 10 of the largest cryptocurrencies in the world, as measured and weighted by free-float and inflation-adjusted market capitalization.
Currently, the index comprises of eight cryptocurrencies - bitcoin (weight: 67.80%), ether (11.50%), XRP (8.33%), bitcoin cash (3.52%), litecoin (3.47%), EOS (3.36%) Stellar lumens (1.10%) and Cardano (0.90%), per the statements.
The index will provide non-U.S. investors “diversified exposure” to the crypto markets, said Matt Hougan, global head of research at Bitwise Asset Management.
The index will be rebalanced and reconstituted every month. Hougan said it is designed for Swiss investors who want to “gain and maintain exposure to the most important crypto projects in the world.”Bitwise built the ETP using Amun's Onyx issuance and administration platform, Hany Rashwan, CEO of Amun, told The Block, adding that “we have 2-3 additional customers that will use the platform by Fall to list their own products. After that point, we will open this platform up much more broadly.”
Amun AG alreadymanagesfour crypto ETPs, which are also listed on the SIX exchange -Crypto Basket Index ETP(HODL), Bitcoin ETP (ABTC), Ethereum ETP ((AETH) and the recently launched Amun XRP ETP (AXRP).All the four ETPs are “heavily traded,” Amun AG said in the statement, adding that the HODL ETP is the “most traded USD-denominated ETP on SIX since inception on Nov. 21, 2018, in terms of trading volume.”
“Of all the existing crypto products currently listed globally, the Amun Bitwise Select 10 ETP is uniquely the most diversified listed crypto product,” said Rashwan. || XRP Climbs 10% In a Green Day: Investing.com - XRP was trading at $0.48663 by 10:22 (14:22 GMT) on the Investing.com Index on Saturday, up 10.10% on the day. It was the largest one-day percentage gain since May 19.
The move upwards pushed XRP's market cap up to $20.42808B, or 6.13% of the total cryptocurrency market cap. At its highest, XRP's market cap was $79.53400B.
XRP had traded in a range of $0.44022 to $0.48663 in the previous twenty-four hours.
Over the past seven days, XRP has seen a rise in value, as it gained 17.79%. The volume of XRP traded in the twenty-four hours to time of writing was $2.39386B or 2.79% of the total volume of all cryptocurrencies. It has traded in a range of $0.4068 to $0.4866 in the past 7 days.
At its current price, XRP is still down 85.21% from its all-time high of $3.29 set on January 4, 2018.
Bitcoin was last at $11,078.5 on the Investing.com Index, up 11.93% on the day.
Ethereum was trading at $313.08 on the Investing.com Index, a gain of 8.95%.
Bitcoin's market cap was last at $197.44716B or 59.25% of the total cryptocurrency market cap, while Ethereum's market cap totaled $33.46289B or 10.04% of the total cryptocurrency market value.
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XRP Climbs Above 0.50441 Level, Up 13% || Bitcoin Tests $12,000 as Analysts Say Crypto Now Becomes Hedge Against Trade War: Investing.com - Bitcoin continued to gain and is now near the $12,000 mark as some analysts now believe the cryptocurrency could be used as a hedge against the ongoing Sino-U.S. trade war that has sent most risky assets down this week.
Bitcoin traded 1.6% higher to $11,751.8 by 1:35 AM ET (05:35 GMT). It has now jumped 23.5% in the past seven days. The move upwards pushed Bitcoin's market cap up to $210.0B, or 67.43% of the total cryptocurrency market cap.
“It definitely appears to be acting somewhat like a safe haven,” Brad Bechtel, head of foreign exchange at Jefferies, told Bloomberg in an email.
“When markets are calm and rallying, then Bitcoin sort of falls by the wayside," he said. "But every time we see turbulence in the market and it starts to sell off, you see Bitcoin” and other safe-haven assets rally.
The gains came as global stock markets and prices of other risky assets plunged this week following an escalation of Sino-U.S. trade tensions.
On Monday Beijing allowed the Chinese yuan to fall to its weakest level in a decade against the dollar while also requested state-owned companies to halt buying of U.S. agricultural products.
“China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!” said U.S. President Donald in a tweet overnight.
Last week, Trump said he would place further tariffs on Chinese goods starting on Sept. 1 if trade negotiations did not show marked progress.
A Treasury statement by the U.S. declared China a currency manipulator and said China’s central bank “has extensive experience manipulating its currency and remains prepared to do so on an ongoing basis.”
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Bitcoin Climbs Above 11,792.0 Level, Up 7% || Napster Creator’s Blockchain Firm Helium Releases IoT Hotspots: Napster creator Shawn Fanning’s new company Helium has released its internet of things (IoT) wireless hotspot devices with ablockchain-based incentives program, according to an official blogpostby Helium on June 12.
According to the post, a Helium Hotspot provides wireless connectivity to theInternet; one node on its own will cover about 1/50 to 1/150 of a city, according to the company’s research.
The nodes are intended to support a network of internet coverage, one which isdecentralizedand powered by individual contributors. Contributors are rewarded by an incentives program on the Helium blockchain, which is powered by the hotspots themselves — one hotspot is one node for the blockchain.
According to the companywebsite, the hotspots’miningmechanism within the blockchain is much less energy-intensive than traditionalconsensusalgorithms used for blockchains such asproof-of-work. The mining works by verifying the legitimacy of other nodes using a “Proof-of-Coverage” protocol, which purportedly is no more energy-consuming than an LED light bulb.
Energy concerns have been an issue voiced by critics of blockchain tech in the past, as a recent studysuggestedthat carbon emissions from bitcoin (BTC) mining are comparable to the whole of Kansas City.
There are also a number of potential use cases mentioned, on the post and the website, that go beyond typical internet services via Helium’s sensors, such as using smoke or heat sensors to prevent wildfires, tracking pets, or even preventing bike theft via location-detecting sensors.
Helium Hotspots are only available for purchase in Austin, Texas upon release, but national coverage is reportedly planned for the fourth quarter of 2019. The company also intends to sell the hotspots globally in the future.
Asreportedby Tech Crunch, Helium has raised at least $51 million in funding for its IoT network. One issue noted in the report is that there needs to be a large number of hotspots, sufficiently spread out, in order for there to be a functioning network at all.
Last month, engineering and electronics manufacturer Boschsaidthat it would aid the development of the IoT space by defending it from censorship. Board member Dr. Michael Bolle said:
“We cannot accept a situation in which the overwhelming reaction to digital innovations is mistrust and fear.”
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• Bitcoin Generates More Carbon Emissions Than Some Countries, Study Warns || Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations: WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump wrote on Twitter. "If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International," he added. Facebook said last month it would launch its global cryptocurrency in 2020. Facebook and 28 partners, including Mastercard Inc <MA.N>, PayPal Holdings Inc <PYPL.O> and Uber Technologies Inc <UBER.N>, would form the Libra Association to govern the new coin. No banks are currently part of the group. JPMorgan Chase & Co <JPM.N>, the largest U.S. bank by assets, plans to launch its own digital coins. Trump's comments come one day after Federal Reserve Chairman Jerome Powell told lawmakers that Facebook's plan to build a digital currency called Libra could not move forward unless it addressed concerns over privacy, money laundering, consumer protection and financial stability. Powell said the Fed had established a working group to follow the project and was coordinating with other countries' central banks, several of which have also expressed concern about Facebook's digital currency project. The U.S. Financial Stability Oversight Council, a panel of regulators that identifies risks to the financial system, is also expected to conduct a review. Facebook, the White House and the Treasury Department did not immediately respond to requests for comment. A spokeswoman for the Federal Reserve declined to comment. Story continues Bitcoin <BTC=BTSP>, the best-known digital coin, was created in 2008 as an alternative to currencies controlled by governments and banks, but crypto trading and digital currencies remain largely unsupervised. The market has also faced allegations of money laundering and terrorist financing. Trump's series of tweets on cryptocurrency also come on the heels of an event at the White House where the president criticized large technology companies that he said treated conservative voices unfairly. The Internet Association, a trade group representing major tech firms like Facebook, Twitter and Google, said: "Internet companies are not biased against any political ideology, and conservative voices in particular have used social media to great effect." (Reporting by Makini Brice and Eric Beech; Editing by Lisa Shumaker and Peter Cooney)
[Random Sample of Social Media Buzz (last 60 days)]
#27Jun #BTC📈📉 What do you think will be Bitcoin price in USD at the end of this week? #bull #bear #Crypto🎢🎢🎢🚀🚀🚀 || 現在の BTC/JPY の価格は 1142660円です。前回比(-0.71%) || START BITCOIN MINING https://t.co/FRPbpllEY2 || أسعار العملات المشفرة
٭ $BTC بـ 10,848.94 دولار - بتكوين 🔻 -0.25%
٭ $ETH بـ 308.46 دولار - ايثيريوم 🔻 -0.32%
٭ $XRP بـ 0.462184919 دولار - ريبل 🔻 -0.26%
٭ $LTC بـ 135.09 دولار - لايت كوين 🔻 -0.18%
٭ $BCH بـ 469.56 دولار - بتكوين كاش 🔻 -0.26% || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || this guy never mentions BSV.
he mentions Bitcoin and he sure as sh1t wasn’t talking about a fork of Bcash. || $matbathome || @GautamChhugani Start shilling bitcoin. Not bnb. || @Nouriel When people like you stop talking about Bitcoin I'll worry.
|
Trend: down || Prices: 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-01-10]
BTC Price: 8166.55, BTC RSI: 64.67
Gold Price: 1557.50, Gold RSI: 71.45
Oil Price: 59.04, Oil RSI: 43.64
[Random Sample of News (last 60 days)]
XRP finalizará el 2019 como la criptomoneda de peor rendimiento del Top 10: Los últimos 12 meses han sido un tiempo de prueba para la criptomoneda XRP y el controversial XRP Army. A medida que nos acercamos al final de 2019, XRP ha perdido casi el 93 por ciento de su valor desde su máximo histórico, y parece estar destinada a cerrar el año como la criptomoneda de peor rendimiento entre las 10 con mas capitalización de mercado. Según datos del sitio de análisis Coinlib , el precio del XRP ha caído un 51% desde principios de año. Muy cerca de XRP se encuentra Bitcoin Cash (BCH), que ha perdido alrededor del 49 por ciento de su valor. Por otra parte, Bitcoin es hasta ahora la moneda de mejor rendimiento del año, con un aumento del 17 por ciento desde principios de 2019. En términos de su posición entre los líderes del mercado por capitalización bursátil, el XRP de Ripple ha mostrado cierta estabilidad. Si bien este año logró alcanzar el segundo lugar en el ranking durante unos días, el token se ha mantenido en un sólido tercer lugar entre las principales durante la mayor parte del año, a pesar de su fuerte caída de precios. Durante los meses de octubre y noviembre, XRP comenzó a mostrar signos de crecimiento, desafiando al resto del mercado, que ya expresaba una tendencia bajista. Sin embargo, cualquier alegría experimentada por la comunidad de traders y entusiastas del token duró poco. Después de romper los niveles de resistencia en $.30 por ficha, el precio de esta criptomoneda ha vuelto a caer a niveles mínimos anuales. La conferencia anual Swell organizada por Ripple, que se esperaba que revitalizara el interés en la moneda y que potencialmente condujera a otro rally, tampoco cumplió con esas expectativas. Sin embargo, basándose en el sentimiento de los medios sociales, la comunidad del XRP sigue siendo muy optimista sobre el futuro de la moneda. Después de todo, la mayor parte de la fuerza de XRP proviene del hecho de que cuenta con el respaldo de una gran empresa Ripple a pesar de que ellos insistan en lo poco que les importa el precio de la moneda, y que su relación con XRP no implica en lo absoluto, bajo ninguna circunstancia, que este activo sea un valor. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/12/19: Bitcoin Cash ABC fell by 0.12% on Friday. Partially reversing a 2.49% rally from Thursday, Bitcoin Cash ABC ended the day at $210.78.
A relatively choppy day saw Bitcoin Cash ABC fall to a late morning intraday low $209.58 before finding support.
Steering clear of the first major support level at $207.25, Bitcoin Cash ABC bounced back to a late morning intraday high $214.0.
Coming up short of the first major resistance level at $215.48, Bitcoin Cash ABC fell back to $210 levels.
In the 2ndhalf of the day, Bitcoin Cash ABC came up against resistance at $214 for a 2ndtime, with an afternoon high $214.0 before falling back into the red.
While bucking the trend on the day, support from the broader market limited the downside on the day.
At the time of writing, Bitcoin Cash ABC was up by 2.48% to $216.0.
Bitcoin Cash broke through the first major resistance level at $213.33 and second major resistance level at $215.87.
For the day ahead, a hold above the second major resistance level would bring the current week high $217.11 into play.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to out from $216 levels.
Barring a broad-based crypto rally the second major resistance level and morning high would likely cap any upside.
Failure to move to hold above the second major resistance level could see Bitcoin Cash ABC spend another day in the red.
A fall back through to sub-$211.5 levels would bring the first major support level at $208.91 into play.
Barring an extended sell-off on the day, however, Bitcoin Cash ABC should avoid the second major support level at $207.03.
Litecoin rose by 1.14% on Friday. Following on from 0.31% gain on Thursday, Litecoin ended the day at $45.36.
A mixed start to the day saw Litecoin rise to an early morning high $45.09 before sliding to an intraday low $44.09.
Whilst falling short of the first major resistance level at $45.47, Litecoin also steered clear of the first major support level at $43.97.
Finding support through to the late afternoon, Litecoin rallied to an intraday high $45.66 before easing back.
Resistance at the first major resistance level at $45.47 limited the upside on the day.
At the time of writing, Litecoin was up by 0.44% to $45.56. A mixed start to the morning saw Litecoin fall to an early morning low $45.11 before striking a high $45.76.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would bring the first major resistance level at $45.98 into play.
Support from the broader market would be needed, however, for Litecoin to break through to $46 levels.
Barring a broad-based crypto rally, the morning high and first major resistance level would likely limit any upside.
Failure to move back through the morning high could see Litecoin hit reverse.
A fall through to sub-$45.10 levels would bring the first major support level at $44.41 into play before any recovery.
Barring a crypto meltdown, however, Litecoin should steer clear of the second major support level at $43.47.
Ripple’s XRP rose by 2.04% on Friday. Following on from a 3.53% rally on Thursday, Ripple’s XRP ended the day at $0.22742.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22564 before hitting reverse.
Falling short of the major resistance levels, Ripple’s XRP fell to a late morning intraday low $0.22034.
Steering clear of the first major support level at $0.2147, Ripple’s XRP rallied to a late afternoon intraday high $0.22856.
Ripple’s XRP came within range of the first major resistance level at $0.2291 before sliding back to $0.2240 levels.
Steering clear of the red, Ripple’s XRP found late support to wrap up the day at $0.2270 levels.
At the time of writing, Ripple’s XRP was up by 0.26% to $0.22800. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22654 to a high $0.22950.
Ripple’s XRP left the major support and resistance levels untested before easing back.
For the day ahead, Ripple’s XRP would need to steer clear of $0.2255 levels to support another run at the first major resistance level at $0.2305.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.22950.
Barring a broad-based crypto rally, resistance at $0.23 would likely limit any upside on the day.
Failure to steer clear of 0.2245 levels would bring the first major support level at $0.22230 into play.
Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.22 levels for a 2ndconsecutive day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – Stock Markets Rocket Higher After The Jobs Figure || Bitcoin attempts crucial breakout to nullify bear market: Bitcoin is in the midst of another gruelling bear market following four clear lower highs and an exponential moving average death cross on the daily chart. However, this hasnt prevented Bitcoin bulls from trying to avoid the inevitable descent, with the worlds largest cryptocurrency rallying by an impressive 14% over the past three days. Bitcoin is now hovering above the $7,450 level of support, which provided a platform for last months rally to $10,350. If it can hold above this level, it could provide a platform for a surge back up to the $8,200 region, although the bulls need a rally above $8,800 to reverse the recent death cross. The daily death cross has happened just three times since 2014, with both previous crosses in 2014 and 2018 resulting in 60% corrections to the downside. A correction of that magnitude from here would see Bitcoin plummet to last Decembers lows of $3,150, with some analysts like Tone Vays calling for $1,150 price targets. If pressure from the sell side continues over the coming days, Bitcoin can be expected to retest $6,500 before dwindling down towards the historic level of support at $5,900. In more positive news, the volume of Bitcoin futures contracts traded on ICEs Bakkt reached an all-time high yesterday. If this can continue, it could well be the trigger for a reversal in price out of the ongoing bear market. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin attempts crucial breakout to nullify bear market appeared first on Coin Rivet . || BitPay says it hasn’t disabled bitcoin payments; there were ‘temporary’ issues: Blockchain payments provider BitPay has clarified that the bitcoin payment option is up and running.
“There were temporary issues with BitPay’s blockchain payment processing system. Our tech team was alerted and promptly resolved the issue,” a BitPay spokesperson told The Block.
Earlier today, some Twitter userssaidthat BitPay is not accepting bitcoin payments. “It seems that Bitpay has suddenly disabled Bitcoin payments for all merchants. Checked a few stores - the same picture,” one user, with the handle @alex_kaul, wrote.
Another user, @wiz,shareda screenshot of the issue, saying: “Dump bitpay and install btcpayserver, it's embarrassing that a service called 'bitcoinaverage' can't even accept Bitcoin for payment.”
The issue has been taken care of, as the spokesperson said. BitPay currentlysupportsover 30,000 merchants, including Microsoft and Avnet, for accepting payments in several cryptocurrencies and stablecoins from consumers.Founded in 2011, BitPay processedover $1 billionin payments last year. The firm is backed by notable investors, having raised over $70 million in funding from Peter Thiel’s Founders Fund, Nimble Ventures, and Virgin Group, among others. || REFILE-China's bitcoin miners scoop up greater production power -research: (Corrects name in third paragraph to Bendiksen, not Bendkisen)
* Chinese miners control 66% of bitcoin computer power -research
* Increase may be down to deployment of better kit
* Global hashrate has grown 80% since June
* Greater concentration may benefit Chinese mining firms
By Tom Wilson
LONDON, Dec 11 (Reuters) - China's bitcoin miners now control two-thirds of the crypto network's processing power, research showed on Wednesday, a growing share that is likely to benefit the country's miners.
Miners in China control 66% of global "hashrate", a measure of the power of computers hooked up to the bitcoin network that dictates their ability to produce new coins, according to a report by digital asset manager CoinShares.
The Chinese share of hashrate, up from 60% in June, is the highest recorded by CoinShares since it began tracking hashrate nearly two years ago. The gains may be due to their greater deployment of more advanced mining gear, said Chris Bendiksen, the firm's head of research.
Chinese companies such as Bitmain and MicroBT are among the world's biggest manufacturers of bitcoin mining gear. Another, Canaan, launched a $90 million initial public offering in November, indicating investor hunger for exposure to miners.
At bitcoin's current price of around $7,200, miners produce bitcoin worth around $4.7 billion every year.
"This is beneficial to the Chinese mining industry," said Bendiksen. "If you are the first to increase your proportion of the hashrate, and you can do that before your competitors, that's generally good."
Crypto mining is a highly opaque sector, with little reliable data on the bitcoin network or bitcoin miners.
Bitcoin miners draw on huge amounts of computing power as they battle against others to solve complex mathematical equations to earn new coins. The higher the hashrate, the more power is needed to produce bitcoin.
And mining has become more difficult. The network's hashrate has risen 80% since June, in part because of strong profitability of miners and more powerful machines, said London-based CoinShares, which manages around $600 million in digital assets.
Click here https://tmsnrt.rs/2sBLQwV for an interactive graphic.
China has cracked down on crypto exchanges and fundraising in recent years, even as it develops its own digital currency.
After looking at banning crypto mining, Beijing last month indicated it would not do so. Some analysts interpreted the move as indicating tolerance of the sector.
The most significant crypto mining hubs are in China's Yunnan, Xinjiang, Inner Mongolia and Sichuan provinces, CoinShares said, with the latter accounting for over half the global hashrate. Other centres are spread from the United States to Russia and Kazakhstan.
China's share of hashrate may fall as more Chinese-made next generation gear makes it way into other markets, CoinShares said.
(Reporting by Tom Wilson; Editing by Catherine Evans) || Online Lender SoFi Gets NY BitLicense, Clearing Way to Offer Crypto Trading: Student loan and financial services provider SoFi has secured a New York virtual currency license, the state’s financial regulator announced Tuesday.
The New York Department of Financial Servicessaid in a press releasethat it approved SoFi Digital Assets, a wholly owned subsidiary of SoFi, granting it a money transmission license as well as the virtual currency license, colloquially termed the BitLicense. SoFi Digital Assets is the 24th company to receive a cryptocurrency approval through NYDFS.
Under the licenses, the company will be able to provide buy and sell services for bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin and Stellar lumens to New York residents.
Related:New York’s Financial Regulator Is Reviewing the Controversial BitLicense
In a statement, SoFi CEO Anthony Noto said the company was “thrilled” to offer crypto trading services, “in addition to active and automated investing, as part of SoFi Invest in New York State,” on top of its other products.
“Putting our members’ interests first is our top priority at SoFi,” he said. “That includes both offering individuals the products they want, like cryptocurrency within SoFi Invest, as well as protecting them, through a solid regulatory framework like that created by the New York State Department of Financial Services.”
SoFi first indicated it would begin providing cryptocurrency services to customersearlier this year, when it announced it was partnering with Coinbase. At the time, the company did not indicate which cryptocurrencies would be available on its platform. The company began offering crypto trading services in September through its SoFi Invest platform,according to Cheddar. At the time, users were limited to bitcoin, litecoin and ether.
• Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week
• New York Grants Bitlicense to Institutional Crypto Exchange Seed CX
• Robinhood Opens Trading for 7 Cryptocurrencies in New York || Bitcoin Halving Could Leave Price at $20K-$50K, Hedge Fund Manager Says: Bitcoins scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate. The projection by Charles Hwang, managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College, represents a multiple of bitcoins current price around $7,500. Hwang wrote in a post on Medium that he assumed demand holds steady at 633,000 bitcoin through 2021, while mining rewards drop to 328,500 bitcoin a year from the current pace of 657,000 a year. Related: Nayuta Claims Its Android Lightning Wallet Is the First to Build in a Bitcoin Full Node This sudden shift in the supply curve will most likely be the catalyst for the next bitcoin bull run, Hwang wrote in the post. Lightning Capital is a small hedge fund, with roughly $500,000 of assets, but Hwangs prediction adds to a growing number of estimates from investors and analysts trying to gauge the potential impact of the halving where the number of bitcoin mining rewards created every 10 minutes is sliced in half. The cut happens every four years, in accordance with the cryptocurrencys 11-year-old design. Some market observers say bitcoins first two halvings in 2012 and 2016 helped fuel big rallies in bitcoins price, and the German bank BayernLB predicted earlier this year that the 2020 halving could drive the price as high as $90,000. Other analysts argue that, since investors know the event is coming, it theoretically should already be baked into bitcoins price. Hwang told CoinDesk in an interview that he considered his demand estimate conservative. He projects that 82,000 bitcoin purchases could come from online dark markets while 546,000 bitcoin could be bought through over-the-counter provider LocalBitcoins. Related: Bakkt Goes Live With Options, Cash-Settled Futures Products There have been many people who claim there is no demand for bitcoin, Hwang said. However, the data from LocalBitcoins and dark markets demonstrates people are purchasing bitcoin. Story continues Hwang wrote in his Medium post that his research shouldnt be construed as investment advice. Source: Hwangs The bitcoin squeeze paper Related Stories The Safello Story: Smaller Crypto Exchanges Must Partner to Survive Crypto Exchange OKEx Launching Options Trading Later This Month || Stratis launches Security Token Offering platform: Enterprise blockchain technology platform Stratis has announced the launch of its new Security Token Offering (STO) platform. The product will allow businesses to raise capital by issuing legally permissible, asset-backed securities on its native blockchain. Stratis has been engaging with the US Securities and Exchange Commission (SEC) to ensure it is compliant with SEC regulations, and the platform has been fine-tuned through “regular dialogue” with the firm’s clients. The STO platform conforms with both Know-Your-Customer (KYC) and Anti-Money Laundering (AML) laws and has been subject to rigorous testing to make sure it follows the legal requirements for hosting a Security Token Offering. New beginnings Stratis’ new platform is an adaptation of its existing Initial Coin Offering (ICO) platform and includes extra legal features to ensure it is suitable for security token issuance. It will enable companies and organisations to run a secure and flexible web-based application on the Stratis blockchain to issue tokens to investors. One key feature the platform boasts is real-time pricing, with the ability to accept payments in both fiat (USD) and cryptocurrency (BTC and STRAT). It utilises currency data from multiple providers such as CoinMarketCap and CoinGecko to ensure its participants benefit from up-to-date prices. “We are delighted to launch our STO platform, one of the key milestones of our 2019 Development Roadmap,” said Chris Trew, Stratis CEO. “The STO platform builds on the functionality of the Stratis ICO platform with the addition of several new features that satisfy the rigorous regulatory requirements needed to conduct STOs. “Our STO platform is highly secure, flexible, and scalable, making it easy for businesses of any size to raise money through the tokenisation of their asset.” Interested in reading more cryptocurrency-related news? Discover more about the trader who lost $26 million in one week after Bitcoin slumped to $6,500. The post Stratis launches Security Token Offering platform appeared first on Coin Rivet . || Cardano Falls 10% In Selloff: Investing.com - Cardano was trading at $0.034313 by 20:41 (01:41 GMT) on the Investing.com Index on Monday, down 10.38% on the day. It was the largest one-day percentage loss since September 24.
The move downwards pushed Cardano's market cap down to $928.03565M, or 0.48% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.
Cardano had traded in a range of $0.034313 to $0.035948 in the previous twenty-four hours.
Over the past seven days, Cardano has seen a drop in value, as it lost 21.3%. The volume of Cardano traded in the twenty-four hours to time of writing was $66.42320M or 0.07% of the total volume of all cryptocurrencies. It has traded in a range of $0.0342 to $0.0434 in the past 7 days.
At its current price, Cardano is still down 97.46% from its all-time high of $1.35 set on January 4, 2018.
Bitcoin was last at $6,716.7 on the Investing.com Index, down 8.18% on the day.
Ethereum was trading at $137.84 on the Investing.com Index, a loss of 9.83%.
Bitcoin's market cap was last at $125.94696B or 64.99% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.48326B or 7.99% of the total cryptocurrency market value.
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Bitcoin Dips Below 6,797.0 Level, Down 7% || Latest Bitcoin price and analysis (BTC to USD): Bitcoin (BTC) is currently trading at just below $7,350 following a substantial 5% drop in price since last Friday. BTC broke most of its support levels during a huge sell-off in November as the coin looked to be free falling. However, the world’s largest cryptocurrency found support near $6,700 last week and bounced back up to $7,800 before consolidating around $7,400. Will BTC recover soon? Let’s take a look at Bitcoin’s chart, courtesy of TradingView . At the time of writing, Bitcoin is on a very bearish trend. Lower highs are giving way to significant price drops. Since the massive bull market that took Bitcoin close to $14,000 earlier in the year, the coin has been dropping in value following a downtrend that was only broken in late October when price surprisingly broke through a number of key resistance levels (around the 200-day, 50-day, and 20-day EMAs). Bitcoin is now about 35% down from October’s high of $10,350 and close to 50% down from the yearly high in June. Last month , I said I expected BTC to find a bottom near its 200-day EMA and that Bitcoin would bounce to around $10,000. BTC has instead broken below its 200-day EMA and there isn’t much support volume to stop another fall. If the $6,700 level was to be broken, the next stop for BTC, if the volume profile is to be believed, is just above $5,000. The current Bitcoin trend History shows us that BTC is prone to huge drops between 30% and 40% during bull seasons. Therefore, I don’t advise that you fight the trend, but surf it for as long as possible. Last week, I underlined that within the next three to five weeks, we could see a major reversal after a period of serious accumulation by ‘hodlers’. We’re still in an accumulation phase and the current downtrend is proof. Volume has dropped to around $17 billion as a result of the consolidation period. This means there is still a lot of room for a further drop if volume picks up again. Story continues Will the trend reverse soon? As veteran traders and investors usually say, smart money “buys when there’s blood on the streets”. I’ve been saying for the past month that I’m waiting for major drops to make new entries. Moments like these are highly welcomed and appreciated. I strongly believe Bitcoin to be a long-term store of value, especially as traditional markets continue to show weaknesses. How can the markets continue to push higher throughout the year after the ECB’s recent rate cuts, the continuous share buybacks from huge corporations, or the inverted bond yield shoving investors away towards riskier assets? In addition, repo market activity – as in loans from central banks to commercial and investment banks – has spiked to new monthly records. That adds up to another signal of weakness for the general economy. In conclusion, investors and traders should pay attention to the overall economic panorama, as it will most likely be a major catalyst for worldwide BTC adoption. Safe trades! Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More Bitcoin news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. The post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
BTC超弱い || 🔽🔽 ₿1 = $6,976 (14:05 UTC)
$BTC prices continue to fall!
#Bitcoin $btcusd #btcusd #btc https://t.co/lMQYPA8Pse || @MoonOverlord https://t.co/eafaQWAuut || @HoneyJoonie94 withdraw 0.002 btc
https://t.co/KxDVAyJMYb || @pierre_rochard @Bitcoin Most people don’t save simply because they don’t make enough money to. || #Infografía // Dólar Bitcoin, crece la compra de monedas digitales para esquivar el cepo cambiario https://t.co/Rfg6epsKeD // mi info para @iproup https://t.co/H5TNHF6GJ5 || Precio de Bitcoin cae a su precio más bajo desde mayo 2019, conozca la razón https://t.co/lC2iUeHArm https://t.co/cVKWUNeYBS || Bitcoin in an increasingly cashless world is pointless if I can't go to a store and EASILY and quickly transact with it. || ETH/USD extreme narrow conditions subject to a breakout https://t.co/MsCNR9VRUR
#btc #ada #bch #eos #eth #ltc #trx #xrp || @murphsicles @_Kevin_Pham @cz_binance is hiding in a different country where he cant get extradited if everyone finds out hes been wash trading on his platform. Hes not man enough to get his fake exchange audited to prove hes legitimate. Hes using bitcoin as a front to pump his shitcoin. #scamFacts
|
Trend: up || Prices: 8037.54, 8192.49, 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-07-21]
BTC Price: 23164.63, BTC RSI: 59.58
Gold Price: 1712.70, Gold RSI: 32.01
Oil Price: 96.35, Oil RSI: 39.48
[Random Sample of News (last 60 days)]
Court gives liquidators green light to claim 3AC assets: U.S. Bankruptcy Judge Martin Glenn gave liquidators authority to subpoena and lay claim to bankrupt crypto firm Three Arrows Capital (3AC)’s U.S-based assets on Tuesday. See related article: 3AC crypto contagion spreads to Blockchain.com: report Fast facts Liquidators can subpoena two dozen banks and crypto exchanges to obtain information about the bankrupt crypto hedge fund’s assets and transfers. Permission was also granted to subpoena 3AC cofounders Su Zhu and Kyle Davies, though the pair did not appear in court on Tuesday, and their whereabouts remain unknown. This has hindered liquidators’ efforts to get a complete view of the situation and creates a risk the pair could move digital assets unless courts directly intervene, liquidators’ lawyer Adam Goldberg said. 3AC filed for Chapter 15 bankruptcy on July 1 shortly after reportedly being ordered into liquidation by a British Virgin Islands court in late June. Voyager Digital Ltd. filed for Chapter 11 bankruptcy recently after disclosing it had loaned US$670 million in cryptocurrencies to 3AC while Blockchain.com recently disclosed it’s also at risk of losing US$270 million it had loaned to 3AC. Luna/Terra ’s collapse had a significant impact on 3AC which had a US$200 million investment in the organization behind the now-defunct stablecoin. See related article: Bitcoin, crypto fall amid reports of 3AC’s court-ordered liquidation || Top 10 Cryptocurrencies To Watch in June 2022: Key Insights: After the crash of May 9, most of the cryptocurrencies fell to their lowest in months. Since last week, the crypto market has regained its lost $138 billion. Top cryptos for the month of June include Terra 2.0, ApeCoin, Dogecoin, and more. The cryptocurrency market, over the course of the last five months, has witnessed a lot of fluctuations and shifts in trends, but the one thing that did not change was the broader market bearishness. However, the worst of it came to form only this May when the crypto market crashed twice within the same month. Today all the cryptocurrencies in the market amount to $1.28 trillion after a 12% recovery three days ago, which brought $137.3 billion back into the market. And even though one may not have found the best opportunity to make profits this month, the month of June certainly presents an opportunity to make gains with these cryptocurrencies that show promise going forward. 1. Bitcoin Starting off with the king coin, Bitcoin , regardless of the market conditions, is always a good choice since it will find room for growth with minimal fluctuations. Since BTC holds a 43% domination in the crypto space, a broader market rally will trigger a rise for BTC as well, and those who enter the market at $30k will certainly gain profits by the end of quarter 2. Trading at $31,583, BTC is set to rise further after the 11.27% rally noted this week. 2. Cardano With the Vasil hard fork set to arrive by the end of June, Cardano , at the moment, is one of the biggest coins to look forward to as investors expect this to be the turning point for the cryptocurrency. A similar bullishness was also noted last year when the Alonzo hard fork was set to activate, and hopefully, this time around, investors can actually recover their losses. ADA recently noted a 37.44% rise which brought the price up to $0.61, inching it closer to the critical support of $1. 3. Terra 2.0 Although Terra’s UST and LUNC (now Terra Classic ) was the cause of one of the biggest crash in the history of crypto this month, Terraform Labs is giving it another shot. Story continues Last week they launched a new blockchain with a new set of tokens still named LUNA to retrace their steps back to their peak. Despite the depegging and subsequent LUNC supply overflow, Terra as a blockchain holds a lot of potential in the DeFi space, and that will be LUNA 2.0’s boon going forward as it trades at $7.19 today. 4. ApeCoin Although it has been well over two months since its launch, ApeCoin hasn’t exhibited skyrocketing feats. The reason behind this is the unfortunate timing as the broader market bearishness combined with the crash of May 9 halted its growth, and the altcoin came crashing down by 75.88% But that doesn’t take away from the fact that APE is one of the most profitable projects in the crypto space, thanks to it being the token of the Bored Ape Yacht Club NFT collection. The biggest NFT project will only grow further when the BAYC NFT-based feature film is released, and consequently, APE will skyrocket. 5. Dogecoin The meme coin lives! It is a surprise that DOGE continues to be one of the topmost cryptocurrencies globally and that it has endured the recent crashes. While Dogecoin does not have much to offer as a blockchain and cryptocurrency, its resilience definitely makes it a worthy investment vehicle. Besides, the meme coin will always have the backing of the “DOGEfather” Elon Musk, who recently made it a viable payment option for its SpaceX merchandise. 6. Axie Infinity Shards One of the biggest Gaming tokens in the crypto space, AXS has always held its position as a profitable crypto investment. Although the token took a hit in January after Axie Infinity’s Ronin bridge was hacked for $625 million, and once again during the recent crash, AXS has bounced back quickly. Supported with the launch of Axie Infinity Origins in May, AXS noted the highest single-day rally in more than six months of 35.22%. As the GameFi protocol continues to expand, AXS will also continue to grow thanks to its utility and value. 7. Flow If this is a name you haven’t heard before, you’re not alone. Up until a few days ago, Flow wasn’t a big deal, but in the last week of May, the blockchain and token shot up in value owing to the announcement of a prominent Instagram artist’s NFT project on the Flow blockchain. Consequently, FLOW became the biggest NFT token with a market cap of $2.74 billion, surpassing ApeCoin. However, this is not what makes FLOW an unmissable opportunity. The blockchain created by Dapper Labs, creators of CryptoKitties, is backed by some major industry players, including Coinbase , Google Ventures, Samsung, Reddit, and Zynga , among others. This makes the token a highly valuable asset that is poised to witness growth going forward. 8. Uniswap Uniswap does not warrant an introduction as it is the biggest Decentralized Exchange (DEX) in the world. Although the entire DeFi space is relatively quiet right now owing to the bearishness in the market, Uniswap still managed to maintain an average transaction volume of $10 billion every week. As the market recovers, so will the DeFi space, and DEX’s will be in high demand. Naturally, UNI will observe high traction, eventually placing it on the path to a rally, which it might already be on given its recent 17.27% increase. 9. Decentraland Known to be the pioneer of Metaverse, the Decentraland is definitely a cryptocurrency to look out for this month as Metaverse is becoming a place of choice for not just the crypto niche but also for mainstream industry players who are using it as a means of marketing. Thus Decentraland is set to observe high demand, which will automatically trigger a rise for MANA. As it is, the token was the first and the quickest cryptocurrency to recover from the crash of May 9, when it rose by 92.69% in 48 hours. 10. The Sandbox Last but certainly not least, The Sandbox is also a rising star in the crypto space, being a Metaverse platform. The Sandbox, although it has been on a downtrend since its all-time high of December, still is a sure-shot investment option, given it recently surpassed the likes of AAVE and Axie Infinity by market cap. Plus, recently, the platform became the new home of the King of Rock and Roll, Elvis Presley, whose NFTs will be launched as avatars in the Metaverse. 🎙️ Ladies and gentlemen… @elvispresley has left the building and entered #TheSandbox ! pic.twitter.com/5Ks7sws7k2 — The Sandbox (@TheSandboxGame) May 25, 2022 As the market comes closer to the end of the second quarter, it will be interesting to see which other altcoins rise the ranks to become the next big investment option. This article was originally posted on FX Empire More From FXEMPIRE: Wall St slides 1% as strong factory data fans fears of aggressive rate hikes Mexico death toll from storm Agatha rises to 11, with 33 missing Delta Air Lines sees snapback to pre-pandemic levels Ford may slash ad spending, revamp dealers to boost EV profit, CEO says OpenSea employee charged with insider trading in NFTs Russia’s weekly inflation at zero as rates meeting looms || Crypto downturn fuels questions over industry’s future: The market value of most cryptocurrencies has plummeted over the last few months, leaving investors reeling. The steep fall amid a wider market dip poses risks for the future of crypto assets and raises questions about their insulation from the rest of the economy. The global market capitalization of cryptocurrencies recently dipped below $1 trillion, down from above $3 trillion in November of last year. That decline has come from all parts of the crypto world, from steady falls in the value of popular coins to the complete implosion of major projects. After peaking at nearly $70,000 per coin late last year, Bitcoin, which remains the most traded currency on the market, is now trading for a little more than $20,000. Other top coins like Ethereum and Solana have experienced similar falls. The collapse of the Terra network, with its two cryptocurrencies designed to maintain one at $1 a coin, has also played a role in wiping out value in the space. Other projects, like the play-to-earn game Axie Infinity, have also floundered. Some crypto assets have recovered value over the last week, but still remain far away from their 2021 peaks. The fall of cryptocurrencies through much of 2022 has coincided with plummeting stock values as rising interest rates, inflation and recession fears rattle financial markets across the world. The Dow Jones Industrial Average, S&P 500 and Nasdaq composite have all fallen more than 20 percent from their most recent record highs amid a darkening economic outlook and investment experts fear deeper losses could be ahead. While cryptocurrencies were envisioned as an alternative to traditional financial assets such as stocks and bonds, digital token values have moved in the same direction as stock prices at an increasing rate. Bruno Macchialli, CEO of Delchain, attributed the connection to the growing numbers of financial institutions and traditional investors who entered the crypto market over recent years. Story continues “We’ve seen main players — financial players, U.S. companies getting into the crypto world. So I think it’s not illogical that we start to see a behavior that is maybe equal to what’s happening in the traditional market,” he said. Cryptocurrencies are likely to face deeper pressure from rising interest rates as the Federal Reserve continues to boost borrowing costs and fight inflation. The values of stocks and other riskier financial assets tend to fall as borrowing costs rise, business earnings decline and consumers put less money in markets and more in savings. While most cryptocurrencies are not tied to the financial performance of a company, they could still face threats as higher rates and rising recession fears prompt fewer people to buy and play the market. As the market has grown, so to has the impact that crypto fluctuations can have on average consumers. And with firms now allowing investors to put coins into their retirement accounts, exposure is only more likely to increase. “The average person should take from [the fall in crypto value] that one needs to be extremely careful and cautious,” said Oleg Elkhunovich, a partner at trial firm Susman Godfrey who has been involved in several commercial crypto litigation cases. “As they say — only invest what you can afford to lose in this asset class.” The lack of meaningful regulations for crypto platforms can amplify the risk of volatile price swings. The particularly steep fall of the crypto market in June, for example, coincided with the world’s largest crypto exchange, Binance, and a leading lending firm, Celsius Network, blocking everyday users from withdrawing assets. Congress has struggled to pass federal standards on cryptocurrency. The most recent bipartisan bill by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) faces an uphill battle amid criticism for moving authority of the assets away from securities regulators. The increased investment in crypto may ultimately lead to more oversight independent of regulatory action by creating more opportunities for litigation, according to Elkhunovich. “The reality is, from a civil litigation side, you need damages,” he explained. “Clearly there are damages out there now.” Supporters of cryptocurrency say that while the downswing has been damaging, it also provides an opportunity for the industry to correct some of its issues and emerge stronger. Macchialli said the crypto bear market will also continue to weed out crypto tokens and offerings that aren’t built to last in times of economic turmoil. Those collapses, he said, are a natural part of the industry’s evolution. “The ones that are remaining are the ones that are having a real utility model based on on something that they are proposing and that investors are seeing something positive based on strategy or willingness,” he said. For the latest news, weather, sports, and streaming video, head to The Hill. || ASIC Bitcoin Mining Hardware Market 2022 to Showing Impressive Growth by | [No. of pages: 130] Industry Trends, Share, Size, Top Key Players Analysis and Forecast Research| by proficient market insights: Proficient Market Insights In 2022, “ASIC Bitcoin Mining Hardware Market “Size, Status and Market Insights, the worldwide market for ASIC Bitcoin Mining Hardware is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. according to a new study. Pune, May 25, 2022 (GLOBE NEWSWIRE) -- ASIC Bitcoin Mining Hardware Market Report provide in-depth study of the current state of the Industry. Initially, the report shows a basic overview of the industry including definitions, classifications, applications, share, trend, forecast analysis, growth, Manufacturers, Industrial end users, Commercial end users, Government bodies and more…. This information can help stakeholders to make appropriate decisions before investing. Who Are ASIC Bitcoin Mining Hardware Market Key Manufacturers ? Company Information: List of Top Manufacturers/ Key Players In ASIC Bitcoin Mining Hardware Market Insights Report Are: Antminer ASICrising GmbH Bitmain Technologies Ltd. BIOSTAR Group BitDragonfly BitFury Group DigBig Ebang Gridchip BTCGARDEN Butterfly Labs, Inc. Clam Ltd CoinTerra, Inc. Black Arrow Btc-Digger Gridseed HashFast Technologies, LLC iCoinTech Innosilicon KnCMiner Sweden AB Land Asic LK Group MegaBigPower SFARDS Spondoolies-Tech LTD TMR Get a sample copy of the ASIC Bitcoin Mining Hardware market report 2022 Scope of the ASIC Bitcoin Mining Hardware Market 2022: ASIC Bitcoin Mining Hardware Market Analysis and Insights: GlobalASIC Bitcoin Mining Hardware Market The globalASIC Bitcoin Mining Hardware market was valued at US$ million in 2020 and it is expected to reach US$ million by the end of 2027, growing at a CAGR of % during 2021-2027. GlobalASIC Bitcoin Mining Hardware Market: Drivers and Restrains The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027. A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better. Story continues GlobalASIC Bitcoin Mining Hardware Market: Segment Analysis The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth. It also discussions about the market size of different segments and their growth aspects along with growth trends, various stakeholders like investors, CEOs, traders, suppliers, Research & media, Global Manager, Director, President, SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization and others. Revenue forecast, company share, competitive landscape, growth factors and trends COVID-19 / Great lockdown has compress the global economy and with it the manufacturing sector, production, disruption, financial. TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT - REQUEST SAMPLE On the thought of the product, this report displays the assembly, revenue, price, Classifications market share and rate of growth of each type, primarily split into ETH Type BTC Type Other On the thought of the highest users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and rate of growth for each application, including Enterprise Personal Get a Sample PDF of report @ https://proficientmarketinsights.com/enquiry/request-sample/19667264?utm_source=NG A comprehensive exploration of the market is framed by thinking about a spread of things, from socioeconomics conditions and business cycles during a specific nation to showcase explicit microeconomic effects. The examination discovered the change in market ideal models regarding local upper hand and along these lines the serious scene of significant players. Downstream interest examination and upstream crude materials and hardware furthermore regulate. This report focuses on the ASIC Bitcoin Mining Hardware in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. The ASIC Bitcoin Mining Hardware market report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The worldwide market for ASIC Bitcoin Mining Hardware is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. according to a new study.This report focuses on the ASIC Bitcoin Mining Hardware in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application., ASIC Bitcoin Mining Hardware Market growth, by Geography: Major regions covered within the report: Consumption by Region 2022 :- North America,U.S.,Canada,Europe,Germany,France,U.K.,Italy,Russia,Asia-Pacific,China,Japan,SouthKorea,India,Australia,Taiwan,Indonesia,Thailand,Malaysia,Philippines,Vietnam,Latin America,Mexico,Brazil,Argentina,Middle East & Africa,Turkey,Saudi Arabia,U.A.E The report can help to know the market and strategize for business expansion accordingly. Within the strategy analysis, it gives insights from market positioning and marketing channel to potential growth strategies, providing in-depth analysis for brand fresh entrants or exists competitors within the ASIC Bitcoin Mining Hardware industry. Global ASIC Bitcoin Mining Hardware Market Report 2022 provides exclusive statistics, data, information, trends and competitive landscape details during this niche sector. Fill the Pre-Order Enquiry form for the report @ https://proficientmarketinsights.com/enquiry/pre-order-enquiry/19667264?utm_source=NG Key questions answered in ASIC Bitcoin Mining Hardware market report: What will the market growth rate of ASIC Bitcoin Mining Hardware market in 2022? What are the key factors driving the global ASIC Bitcoin Mining Hardware market? Who are the key manufacturers in ASIC Bitcoin Mining Hardware market space? What are the market opportunities, market risk and market overview of the ASIC Bitcoin Mining Hardware market? What are sales, revenue, and price analysis of top manufacturers of ASIC Bitcoin Mining Hardware market? Who are the distributors, traders and dealers of ASIC Bitcoin Mining Hardware market? What are the ASIC Bitcoin Mining Hardware market opportunities and threats faced by the vendors in the global ASIC Bitcoin Mining Hardware market? What are sales, revenue, and price analysis by types and applications of ASIC Bitcoin Mining Hardware market? What are sales, revenue, and price analysis by regions of ASIC Bitcoin Mining Hardware market? With tables and figures helping analyze worldwide Global ASIC Bitcoin Mining Hardware Market Forecast this research provides key statistics on the state of the industry and should be a valuable source of guidance and direction for companies and individuals interested in the market. Major Points from Table of Contents: Table of Contents 1 ASIC Bitcoin Mining Hardware Market Overview 1.1 Product Overview and Scope of ASIC Bitcoin Mining Hardware 1.2 ASIC Bitcoin Mining Hardware Segment by Type 1.2.1 Global ASIC Bitcoin Mining Hardware Market Size Growth Rate Analysis by Type 2022 VS 2027 1.3 ASIC Bitcoin Mining Hardware Segment by Application 1.3.1 Global ASIC Bitcoin Mining Hardware Consumption Comparison by Application: 2022 VS 2027 1.4 Global Market Growth Prospects 1.4.1 Global ASIC Bitcoin Mining Hardware Revenue Estimates and Forecasts (2017-2027) 1.4.2 Global ASIC Bitcoin Mining Hardware Production Capacity Estimates and Forecasts (2017-2027) 1.4.3 Global ASIC Bitcoin Mining Hardware Production Estimates and Forecasts (2017-2027) 1.5 Global Market Size by Region 1.5.1 Global ASIC Bitcoin Mining Hardware Market Size Estimates and Forecasts by Region: 2017 VS 2021 VS 2027 1.5.2 North America ASIC Bitcoin Mining Hardware Estimates and Forecasts (2017-2027) 1.5.3 Europe ASIC Bitcoin Mining Hardware Estimates and Forecasts (2017-2027) 1.5.4 China ASIC Bitcoin Mining Hardware Estimates and Forecasts (2017-2027) 1.5.5 Japan ASIC Bitcoin Mining Hardware Estimates and Forecasts (2017-2027) 2 Market Competition by Manufacturers 2.1 Global ASIC Bitcoin Mining Hardware Production Capacity Market Share by Manufacturers (2017-2022) 2.2 Global ASIC Bitcoin Mining Hardware Revenue Market Share by Manufacturers (2017-2022) 2.3 ASIC Bitcoin Mining Hardware Market Share by Company Type (Tier 1, Tier 2 and Tier 3) 2.4 Global ASIC Bitcoin Mining Hardware Average Price by Manufacturers (2017-2022) 2.5 Manufacturers ASIC Bitcoin Mining Hardware Production Sites, Area Served, Product Types 2.6 ASIC Bitcoin Mining Hardware Market Competitive Situation and Trends 2.6.1 ASIC Bitcoin Mining Hardware Market Concentration Rate 2.6.2 Global 5 and 10 Largest ASIC Bitcoin Mining Hardware Players Market Share by Revenue 2.6.3 Mergers & Acquisitions, Expansion 3 Production Capacity by Region 3.1 Global Production Capacity of ASIC Bitcoin Mining Hardware Market Share by Region (2017-2022) 3.2 Global ASIC Bitcoin Mining Hardware Revenue Market Share by Region (2017-2022) 3.3 Global ASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 3.4 North America ASIC Bitcoin Mining Hardware Production 3.4.1 North America ASIC Bitcoin Mining Hardware Production Growth Rate (2017-2022) 3.4.2 North America ASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 3.5 Europe ASIC Bitcoin Mining Hardware Production 3.5.1 Europe ASIC Bitcoin Mining Hardware Production Growth Rate (2017-2022) 3.5.2 Europe ASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 3.6 China ASIC Bitcoin Mining Hardware Production 3.6.1 China ASIC Bitcoin Mining Hardware Production Growth Rate (2017-2022) 3.6.2 China ASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 3.7 Japan ASIC Bitcoin Mining Hardware Production 3.7.1 Japan ASIC Bitcoin Mining Hardware Production Growth Rate (2017-2022) 3.7.2 Japan ASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 4 Global ASIC Bitcoin Mining Hardware Consumption by Region 4.1 Global ASIC Bitcoin Mining Hardware Consumption by Region 4.1.1 Global ASIC Bitcoin Mining Hardware Consumption by Region 4.1.2 Global ASIC Bitcoin Mining Hardware Consumption Market Share by Region 4.2 North America 4.2.1 North America ASIC Bitcoin Mining Hardware Consumption by Country 4.2.2 United States 4.2.3 Canada 4.3 Europe 4.3.1 Europe ASIC Bitcoin Mining Hardware Consumption by Country 4.3.2 Germany 4.3.3 France 4.3.4 U.K. 4.3.5 Italy 4.3.6 Russia 4.4 Asia Pacific 4.4.1 Asia Pacific ASIC Bitcoin Mining Hardware Consumption by Region 4.4.2 China 4.4.3 Japan 4.4.4 South Korea 4.4.5 China Taiwan 4.4.6 Southeast Asia 4.4.7 India 4.4.8 Australia 4.5 Latin America 4.5.1 Latin America ASIC Bitcoin Mining Hardware Consumption by Country 4.5.2 Mexico 4.5.3 Brazil 5 Segment by Type 5.1 Global ASIC Bitcoin Mining Hardware Production Market Share by Type (2017-2022) 5.2 Global ASIC Bitcoin Mining Hardware Revenue Market Share by Type (2017-2022) 5.3 Global ASIC Bitcoin Mining Hardware Price by Type (2017-2022) 6 Segment by Application 6.1 Global ASIC Bitcoin Mining Hardware Production Market Share by Application (2017-2022) 6.2 Global ASIC Bitcoin Mining Hardware Revenue Market Share by Application (2017-2022) 6.3 Global ASIC Bitcoin Mining Hardware Price by Application (2017-2022) 7 Key Companies Profiled 7.1 Company 7.1.1 ASIC Bitcoin Mining Hardware Corporation Information 7.1.2 ASIC Bitcoin Mining Hardware Product Portfolio 7.1. CASIC Bitcoin Mining Hardware Production Capacity, Revenue, Price and Gross Margin (2017-2022) 7.1.4 Company’s Main Business and Markets Served 7.1.5 Company’s Recent Developments/Updates 8 ASIC Bitcoin Mining Hardware Manufacturing Cost Analysis 8.1 ASIC Bitcoin Mining Hardware Key Raw Materials Analysis 8.1.1 Key Raw Materials 8.1.2 Key Suppliers of Raw Materials 8.2 Proportion of Manufacturing Cost Structure 8.3 Manufacturing Process Analysis of ASIC Bitcoin Mining Hardware 8.4 ASIC Bitcoin Mining Hardware Industrial Chain Analysis 9 Marketing Channel, Distributors and Customers 9.1 Marketing Channel 9.2 ASIC Bitcoin Mining Hardware Distributors List 9.3 ASIC Bitcoin Mining Hardware Customers 10 Market Dynamics 10.1 ASIC Bitcoin Mining Hardware Industry Trends 10.2 ASIC Bitcoin Mining Hardware Market Drivers 10.3 ASIC Bitcoin Mining Hardware Market Challenges 10.4 ASIC Bitcoin Mining Hardware Market Restraints 11 Production and Supply Forecast 11.1 Global Forecasted Production of ASIC Bitcoin Mining Hardware by Region (2023-2027) 11.2 North America ASIC Bitcoin Mining Hardware Production, Revenue Forecast (2023-2027) 11.3 Europe ASIC Bitcoin Mining Hardware Production, Revenue Forecast (2023-2027) 11.4 China ASIC Bitcoin Mining Hardware Production, Revenue Forecast (2023-2027) 11.5 Japan ASIC Bitcoin Mining Hardware Production, Revenue Forecast (2023-2027) 12 Consumption and Demand Forecast 12.1 Global Forecasted Demand Analysis of ASIC Bitcoin Mining Hardware 12.2 North America Forecasted Consumption of ASIC Bitcoin Mining Hardware by Country 12.3 Europe Market Forecasted Consumption of ASIC Bitcoin Mining Hardware by Country 12.4 Asia Pacific Market Forecasted Consumption of ASIC Bitcoin Mining Hardware by Region 12.5 Latin America Forecasted Consumption of ASIC Bitcoin Mining Hardware by Country 13 Forecast by Type and by Application (2023-2027) 13.1 Global Production, Revenue and Price Forecast by Type (2023-2027) 13.1.1 Global Forecasted Production of ASIC Bitcoin Mining Hardware by Type (2023-2027) 13.1.2 Global Forecasted Revenue of ASIC Bitcoin Mining Hardware by Type (2023-2027) 13.1.3 Global Forecasted Price of ASIC Bitcoin Mining Hardware by Type (2023-2027) 13.2 Global Forecasted Consumption of ASIC Bitcoin Mining Hardware by Application (2023-2027) 13.2.1 Global Forecasted Production of ASIC Bitcoin Mining Hardware by Application (2023-2027) 13.2.2 Global Forecasted Revenue of ASIC Bitcoin Mining Hardware by Application (2023-2027) 13.2.3 Global Forecasted Price of ASIC Bitcoin Mining Hardware by Application (2023-2027) 14 Research Finding and Conclusion 15 Methodology and Data Source 15.1 Methodology/Research Approach 15.1.1 Research Programs/Design 15.1.2 Market Size Estimation 15.1.3 Market Breakdown and Data Triangulation 15.2 Data Source 15.2.1 Secondary Sources 15.2.2 Primary Sources 15.3 Author List 15.4 Disclaimer Continued…. Reasons to buy this report: To get a comprehensive overview of the ASIC Bitcoin Mining Hardware Market To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players. To gain insights of the countries/regions in the ASIC Bitcoin Mining Hardware Market. Purchase this report (Price USD 2900 for a Single-User License) - https://proficientmarketinsights.com/purchase/19667264?utm_source=NG CONTACT: Contact Us: Organization: proficient market insights Phone: +1 424 253 0807 Phone: +44 203 239 8187 Email: [email protected] View comments || Ventricular Assist Devices Market is expected to reach $2.59 Billion by 2030 with a CAGR value of around 7.13% - Prevalent Cases of Cardiovascular Diseases Led to Organ Failure and Challenges in Organ Transplantation: STRATEGIC MARKET RESEARCH LLP A group of highly-skilled research specialists from Strategic Market Research stated that the Market for Ventricular Assist Devices was USD 1.3 Billion in 2020 & is likely to reach a landmark of nearly USD 2.59 Billion in 2030 with a CAGR value of approximately 7.13%. Let us take a look at the key statistics provided below. New York, United States, May 26, 2022 (GLOBE NEWSWIRE) -- A ventricular assist device is also known as an electromechanical device that assists cardiac circulation to partially or completely reduce cardiac failure. It helps to pump the blood from the lower chambers of the heart (ventricles) to the rest of the body. The major factors propelling the growth of the Global Ventricular Assist Devices Market are the increase in rapid technological developments, continuous rising cases of cardiovascular diseases, & a surge in the geriatric population. In terms of Product, the Left ventricular assist devices (LVADs) segment held the maximum market share in 2020 of approximately 81.03 % & based on region, North America dominated the market with an overall share of nearly 55.12%. However, the Asia-Pacific region held the fastest growth rate with a robust CAGR value of around 19.62%. To get a first-hand overview of the report, Request a Sample at https://www.strategicmarketresearch.com/request-sample/ventricular-assist-devices-market The report announced by Strategic Market Research on Ventricular Assist Devices Market is fragmented based on: Product Suitable ventricular assist devices (VADs) Left ventricular assist devices (LVADs) Biventricular assist devices (BiVADs) Design Implantable ventricular assist devices Transcutaneous ventricular assist devices Application Destination Therapy Bridge to transplant therapy (BTT) Bridge to candidacy therapy (BTC) Bridge to recovery therapy (BTR) Regions: North America USA Mexico Canada Rest of North America Europe Germany France Russia Switzerland U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Story continues Asia Pacific China India Indonesia Thailand Japan South Korea Singapore Malaysia Philippines Australia New Zealand Rest of APAC LAMEA Brazil Saudi Arabia Uruguay Argentina Rest of LAMEA Make a Direct Purchase of the latest Ventricular Assist Devices Market Report published in the month of April 2022. Click the below link to initiate the purchase: https://www.strategicmarketresearch.com/buy-now/ventricular-assist-devices-market Report Coverage Details Forecast Period 2021-2028 Forecast Period 2021 to 2028 CAGR 7.13% 2028 Value Projection USD 2.59 billion Base Year 2020 Market Size in 2020 USD 1.3 billion Historical Data for 2017-2019 No. of Pages 135 Companies Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge, CardiacAssist Inc., Berlin Heart, Jarvik Heart Inc., SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., CardioDyme, World Heart Corporation Leading Segment Left ventricular Assist Devices (LVADs) Leading Region North America Segments covered Application, Design, Product, and Region Growth Drivers Prevalent Cases of Cardiovascular Diseases Prevalent Cases of Organ Failure and Challenges in Organ Transplantation Vital factors fuelling the Market Growth: The continuous surge in demand for a heart transplant due to the increased cardiovascular diseases & paucity of cardiac assist devices is augmenting the market growth. However, this is accompanied by the shortage of decent hearts for transplantation to fulfill the worldwide demand. The American Heart Association has announced that there were more than 523.2 million cases of CVDs (cardiovascular diseases) in 2019, which was an increase of nearly 26.6% as compared to 2010. Analysts predict that the global burden of cardiovascular disease is poised to grow exponentially over the upcoming years. Apart from the rise of the CVDs, the rapid technological developments in mechanical circulatory support and the rise in the cases of LVADs have increased the demand for these devices immensely in heart patients. As per Michigan Health Lab, there are approximately 250,000 LVAD patients in the United States. Furthermore, the rising demand for the different ventricular assist devices such as ventricular assist device impella, ventricular assist device ACLS, ventricular assist device icd10, ventricular assist device anticoagulation, etc., are also fuelling the market growth extensively across the globe. In terms of Product, the Left ventricular assist devices (LVADs) segment dominated the market. In terms of Product, the market is classified into Left ventricular assist devices (LVADs), Suitable ventricular assist devices, & (BiVAD) Biventricular assist devices . The Left ventricular assist devices (LVADs) segment dominated the market comprehensively, with a total share of almost 81.03% in 2020 . This is due to rapid technological advancements, a rise in the number of cardiac failures, & the scarcity of organ donors. As a result, the LVAD market share was valued at USD 357 million in 2020. Based On Design, the Implantable Ventricular Assist Devices segment held the maximum share of the market in 2020 In terms of design, the market has been segmented into Transcutaneous Ventricular Assist Devices & Implantable Ventricular Assist Devices. The ' Implantable ventricular assist devices ' segment dominated the market with a share of around 72.17% due to the innovative product development by the leading market players & the increasing need for a revolutionary solution to manage heart failure. The European Journal of Heart Failure announced that around 64.3 million people are living with heart failure across the globe. In developed countries, the prevalence of cardiac failure is generally estimated at (1 to 2) % of the general adult population. By Applications, the Bridge to transplant (BTT) segment held the maximum proportion of the market share in 2020 In terms of Applications, the market has been ramified into Bridge to transplant therapy (BTT), Destination Therapy, Bridge to recovery therapy (BTR), & Bridge to candidacy therapy (BTC). The ' Bridge to transplant therapy (BTT) ' segment held the largest market share in 2020. The increasing awareness about heart transplantation, along with the availability of VADs for BTT (Bridge to transplantation) are driving the segment growth widely throughout the estimated time frame of 2020-2030. Globally, around 3,500 heart transplants are performed each year. The vast majority of these transplantations are performed in the United States itself (2,0002,300 per year). North America continued to be the leading region in the Ventricular Assist Devices Market:- Based on Region, North America continued its sheer dominance with a share of almost 51.22% throughout the anticipated frame of time. The availability of regulated reimbursement policies & coverage rise of awareness regarding VADs like destination therapies, bridge-to-recovery, & bridge-to-transplant is expected to drive the market of this region in the forthcoming years. The U.S. population accounts for the highest number of obese citizens, thus making them highly susceptible to cardiovascular diseases. As per Healthline , more than one-third of adults (around 36.5 percent) have obesity. Around 32.5 % of American adults are overweight. So, overall, more than two-thirds of adults in the USA are overweight or have obesity. On the other hand, the APAC (Asia Pacific) region showed the fastest growth rate with a CAGR of 19.62 %, owing to the rapid advancement of the healthcare facilities & favourable government strategies such as the Make in India movement for enhancing the private and public partnerships in India. Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report. https://www.strategicmarketresearch.com/pre-order-enquiry/ventricular-assist-devices-market List of key players that are driving the growth rate of in the Ventricular Assist Devices Market worldwide: Abbott LaboratoriesMedtronic Abiomed Teleflex Incorporated SynCardia Systems Fresenius Medical Care AG & Co. KGaA CardiacAssist Inc. Berlin Heart Jarvik Heart Inc. Getinge SENKO MEDICAL INSTRUMENT Mfg. CO., LTD. CardioDyme World Heart Corporation Kindly go through and get access to our comprehensive coverage of myriad number of healthcare reports published in the last three months: https://www.strategicmarketresearch.com/reports/healthcare Recent Developments: On June 3rd 2021, Abbott announced that it would provide all the financial support for the expanded usage of HeartMate 3 Heart Pump. Abbott worked collaboratively with other healthcare organisations' physicians and health systems to ensure the supply of left ventricular assist devices (LVADs). Besides that, Abbott also provided a proper level of training to its physicians to use the Abbott's HeartMate 3 devices on their patients adequately. On June 5th 2020, FDA successfully approved Abiomeds First-in-Human Trial of Impella ECP, the smallest heart pump in the world. A unique design feature of the ventricular assist device, Impella ECP, is placed across the valve with a soft atraumatic polyurethane cannula that opens only during the pump flowing. If the pump stops working, this cannula shuts all the valve leaflets around it, thus maintaining the valve competency. Related Reports: Automated External Defibrillator Market SMRs Automated External Defibrillator Market Report with Insights & Forecast 2030 delivers an exact idea regarding the detailed market insights such as the driving factors, restraints, opportunities, etc. With a total market size of around USD 650.07 Mn in 2020, the Global Automated External Defibrillator Market Size will make up to USD 1596.38 Mn by 2030 with a burgeoning CAGR of nearly 9.4 %. Key factors that are propelling the market growth continuously are the continuous rise in the diseased population and the advent of rapid technological advancements. 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Apart from that, the key players associated with this market are Medtronic Plc.,Akili Interactive Labs, Inc.,Click Therapeutics, Inc.,Fitbit, Happify, Inc., Kaia Health, Livongo Health, Omada Health, Pear Therapeutics, Inc., Proteus Digital Health, Inc., Resmed, etc. About Us: Strategic Market Research facilitates the organizations globally in taking pivotal business decisions by furnishing the Syndicated and Customized Research Reports, which are highly precise in terms of market numbers. We believe that every firm, whether it is a startup which is in the Introduction stage of the Product Life cycle or an established one which is at the growth stage, requires market research services in order to streamline its key business blueprint. It may be related to Product Launch, Go to Market strategies, Competitive Analysis or new geographical penetration and expansion. Contact Us: Strategic Market Research LLP. Sunil Kumar US: +1-8317045538 UK: +441256636046 India: +91-8260836500 Email: [email protected] Web: https://www.strategicmarketresearch.com Blog: https://www.strategicmarketresearch.com/blog Press Release: https://www.strategicmarketresearch.com/press-releases Connect Us: LinkedIn: https://www.linkedin.com/company/strategic-market-research/ Twitter: https://twitter.com/smrstrategic Facebook: https://www.facebook.com/StrategicMarketResearch Instagram: https://www.instagram.com/strategicmarketresearchsmr/ || Fidelity's crypto unit to double down on hiring this year (May 31): (This May 31 story corrects second paragraph to say Fidelity Digital Assets plans to fill 210 new positions, and not 110 as previously reported) (Reuters) - Fidelity Investments' digital assets arm will double down on hiring this year as it looks to beef up its resources to serve clients who want to invest in crypto assets that trade round the clock. Fidelity Digital Assets, which currently employs nearly 200 people, is looking to fill 210 new positions in client services, technology and operations that would also focus on assets beyond bitcoin, a company spokesperson told Reuters on Tuesday. "As the demand for digital assets continues to steadily grow and the marketplace evolves, we will continue to expand our hiring efforts," Tom Jessop, president of Fidelity Digital Assets, said. Last month, Fidelity Investments became the first major retirement plan provider to allow individuals to allocate part of their savings in bitcoin through their 401(k) investment plans. News of the hiring comes weeks after cryptocurrencies suffered a major pullback following the collapse of stablecoin terraUSD. Stablecoins are digital tokens pegged to the value of traditional assets. Bitcoin was last trading at $31,594, down more than half from its all-time high of $69,000 in November. The digital currency market rout hasn't deterred private investments, with Hong Kong-based crypto lender and asset manager Babel Finance raising $80 million at a $2 billion valuation last week, while venture capital giant Andreessen Horowitz raised $4.5 billion for its fourth cryptocurrency fund. (Reporting by Medha Singh in Bengaluru; Additional reporting by Jamie McGeever; Editing by Shounak Dasgupta) || Bitcoin Miners Are Selling Tokens as Prices Linger Near Lows: (Bloomberg) -- Bitcoin miners are beginning to sell tokens they’ve hoarded to cover burgeoning costs with the prospects for industry growth slowing and the price of the largest cryptocurrency showing few signs of rebounding following the recent collapse from record highs.
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Miners transferred about 195,663 coins to exchanges in May, the biggest monthly increase since January, according to data from Coin Metrics compiled by Compass Mining. Based on Bitcoin’s average price of around $32,000 in May, the total value of the tokens was about $6.3 billion.
That indicates companies may be moving large amounts of coins stored in their digital wallets to exchanges for sale. To be clear, the number does not necessarily mean miners are selling that many tokens since some miners would put their coins in exchanges for other transactions and not sell.
Sellers include publicly traded miners such as Riot Blockchain Inc. that had been stockpiling Bitcoin on a bet that prices would keep appreciating. They had served as a proxy for equity investors that wanted to gain crypto exposure without actually owning the tokens. Smaller miners who face large liquidations are also selling their Bitcoin. The token has dropped about 35% this year.
“I think miners are just talking about the macro environment and think it is probably prudent to sell Bitcoin in these levels in order to keep the operations safe,” said Will Foxley, director of content at mining hardware marketplace and hosting services provider Compass Mining.
More large-scale public miners have become cash-strapped as it became harder to raise capital through debt or stock sales during a recent bear market. They’re also seeking wider profit margins as the companies expand. Riot is building a mining facility with one gigawatt capacity in Texas after it has completed its 750-megawatt site, which is one of the largest mining farms in the US.
Miners are also trying to pay for mining machines they ordered months ago while putting down non-refundable deposits in millions of dollars.
A wave of small miners that came in during the bull cycle and bet big on Bitcoin prices rising are now at risk of needing to liquidate their mined coins, said Matthew Schultz, executive chairman of crypto-mining company CleanSpark.
Cathedra Bitcoin Inc., a small-scale miner, had to sell almost all their holdings to maintain their mining operation.
“We have spent the last several weeks restructuring our balance sheet and operations to ensure Cathedra is well positioned to endure a prolonged economic downturn,” Cathedra Chief Executive Officer AJ Scalia said in a statement.
The flow data tracking transactions between miners and exchanges is one of the best proxies for sales of mined coins, but it has limitations. While the data includes digital wallets from major exchanges such as Binance and Gemini, it doesn’t have data from Coinbase due to the biggest US exchange’s wallet design. Some of the miners also opt to liquidate their crypto holdings through over-the-counter trading desks, whose trading data is typically not public, Foxley said.
Shares of public miners have been hit hard this year. Riot is down 72% since December, while Marathon Digital Holdings Inc. has slumped a similar amount.
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©2022 Bloomberg L.P. || 7 Tech Stocks Trading at a Terrific Discount Right Now: When the equities sector started to unravel as soaring inflation and the conflict in eastern Europe took its toll on investor sentiment, the technology sector was one of the hardest hit. Since these enterprises are largely geared toward maximizing growth, when opportunities for economic expansion are limited, the segment tends to suffer. However, the bearishness may have gone overboard, thus bolstering tech stocks trading at a discount. One main reason to consider picking up deflated shares is that innovation always moves forward. With digitalization becoming an even more ingrained reality than in the past, its a likely bet that tech stocks focused on wider connectivity will eventually recover. However, investors can enjoy the greatest rewards by getting in early before the wave. 5 Best Stocks to Buy if You Have $100 to Spend Second, some platforms are so deeply integrated into society that theyve essentially become indispensable. As well, broader labor force developments such as the gig economy will likely ensure that tech stocks despite their current volatility maintain their relevance. Therefore, those that can handle some choppy waters should get ready to do some digging in the discount bin. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Price AAPL Apple $ PYPL PayPal $ ADBE Adobe $ SQ Block $ NVDA Nvidia $ SE Sea Limited $ META Meta $ Tech Stocks to Watch: Apple (AAPL) Apple (AAPL) logo on an Apple store in Santa Monica, California. Source: View Apart / Shutterstock.com Typically, tech stocks levered heavily to the consumer retail market are problematic amid recessionary forces. One of the first items that households cut from their budgets during an economic downturn are discretionary products; that is, products that are nice to have but not essential. Nevertheless, Apple (NASDAQ: AAPL ) is proving doubters wrong, being a clear winner amid the coronavirus madness. True, not everyone needs a new iPhone or iPad. Indeed, it would be foolish to make such outlandish purchases if you recently got the pink slip from your employer. However, Apple is proving integral not necessarily for its products but for its ecosystem. Story continues Essentially, Apple is superior to any other competing ecosystem say from Microsoft (NASDAQ: MSFT ) or Alphabet (NASDAQ: GOOG , NASDAQ: GOOGL ) because it has the entire stack covered . Transitioning between devices is a snap because everything is connected to a cohesive whole. Theres really nothing quite like it, making AAPL one of the intriguing tech stocks to buy on discount. PayPal (PYPL) PayPal (PYPL) logo overlays daylight photo of corporate building Source: JHVEPhoto / Shutterstock.com Following the extremely volatility of the March doldrums of 2020, shares of PayPal (NASDAQ: PYPL ) quickly skyrocketed to record valuations. Part of the reason is the digital payment processor and business software solution firm facilitated contactless transactions, a much-needed attribute when fears of the coronavirus pandemic were at their zenith. Nowadays, though, those fears have significantly subsided. Moreover, PYPL and other tech stocks came under pressure from macroeconomic threats. With dramatically rising inflation cutting into the purchasing power of the dollar, households were basically getting taxed on their real earnings. Naturally, such a dynamic would have negative implications for the business community. As well, competitive threats from Amazon (NASDAQ: AMZN ) have weighed on PYPL. Though sales are up in the first quarter of 2022, net income has decelerated, raising concerns among investors. 7 Blue-Chip Stocks to Buy After Last Month's Massive Beating Nevertheless, thanks to PayPals brand power, it offers relevance for the burgeoning gig economy, which experts believe will grow to $455 billion by the end of 2023 in terms of gross transactions. Tech Stocks to Watch: Adobe (ADBE) Adobe logo on the smartphone screen is placed on the Apple macbook keyboard on red desk background. ADBE stock. Source: Tattoboo / Shutterstock A popular software company, Adobe (NASDAQ: ADBE ) specializes in products geared toward content creation, covering graphics, photography, illustration, animation, video and print. Its flagship product arguably is Photoshop, an image-editing software. After meandering a bit during the spring doldrums of 2020, Adobe found itself flying to the stratosphere. As with PayPal, Adobes products such as Acrobat Reader lent themselves to contactless transactions, fortuitously benefitting ADBE stock. Unfortunately, the narrative shifted this year, with shares plunging 31% on a year-to-date basis. Still, Wall Street might not be acting rational here. In its latest quarter ending May 31, 2022, Adobe rang up $4.39 billion in sales, up over 14% against the year-ago level. The company also posted net income of $1.18 billion, up 5.5% on a year-over-year basis. Further, Adobe features significant strengths in its balance sheet while also beating out several companies in its industry for profitability metrics. Lastly, against a basket of valuation tools, ADBE is considered significantly undervalued , making it one of the tech stocks to buy on discount. Block (SQ) Square, Inc. changes name to Block (SQ). Smartphone with Square logo on screen in hand on background of Block logo. Source: Sergei Elagin / Shutterstock.com Although one of the most innovative firms thanks to its payment platforms and administrative applications that leveled the playing field for small businesses against their larger rivals, Block (NYSE: SQ ) which formerly went by the name Square has suffered a reverse of fortunes. Since the start of the year, SQ has tumbled, hemorrhaging 59% of market value. While most commerce-centric tech stocks to buy are hurting from rising inflation along with competitive threats, Block has an even bigger challenge. Prior to the sector meltdown, the financial technology (or fintech) giant made waves when it embraced cryptocurrencies. While such a move may have been shrewd during the industrys upswing, when cryptos are plummeting as they did recently it becomes another story altogether. 7 Best OTC Stocks to Buy Now for July 2022 Still, for the long run, SQ is one of the tech stocks to buy on discount. Along with its core payment processor business, Blocks acquisition of buy-now, pay-later platform Afterpay could be significant as we head into a possible recession and consumers look to stretch their dollars. Tech Stocks to Watch: Nvidia (NVDA) Closeup of mobile phone screen with logo lettering of nvidia corporation on computer keyboard. NVDA stock. Source: Shutterstock Speaking of tech stocks and cryptos, its difficult to ignore the current malaise impacting Nvidia (NASDAQ: NVDA ). Perhaps best known for making graphics processing units or GPUs, Nvidia has branched out to several innovative fields. But this business diversity hasnt helped the company avoid market volatility this year. Since Januarys opener, NVDA is down about 47%, a staggeringly negative reversal. However, its not too hard to see why many investors panicked out of the tech giant. Crypto miners use Nvidia GPUs often in stacked rigs to perform their data transaction operations. However, with the market capitalization of virtual currencies sinking, the risk-reward profile for crypto mining is no longer favorable. However, our own Louis Navellier remains optimistic about NVDA , giving it a solid B rating in his Portfolio Grader . As he pointed out in June of this year, demand remains strong with its data center segment. Last quarter, this segment saw year-over-year revenue growth of 83% . In fact, it had higher quarterly revenue from its data segment ($3.75 billion) than from its gaming segment ($3.62 billion). Sea Ltd. (SE) SEA Limited - Shopee app on mobile phone Source: Muh.Imron / Shutterstock.com At this point, Ive become a broken record when it comes to Sea Ltd (NYSE: SE ). A tech conglomerate headquartered in Singapore, Sea offers intriguing opportunities in food deliveries, digital payments and fintech and online game development and publishing. All these sectors have burgeoned to varying degrees in the U.S. so the logical assumption is that they would blossom in Seas core Southeast Asia market. Unfortunately, the equities market doesnt see it that away. On a YTD basis, SE has tanked more than 65% of value, making it one of the worst performers among the formerly popular tech stocks to buy. Fundamentally, investors are likely looking at earnings viability. While Sea posted revenue growth of 64% for Q1 2022, its net loss of $580 million expanded noticeably from the net loss of $423 million in Q1 2021. The 6 Best Retirement Stocks for Investors Over 50 Naturally, in a possible recessionary storm, companies that lose money dont attract much attention. However, in the longer run, Southeast Asias internet economy could hit $1 trillion by 2030 , according to a Reuters report. Tech Stocks to Watch: Meta Platforms (META) META stock logo is shown on a device screen. Meta is the new corporate name of Facebook. Source: Blue Planet Studio / Shutterstock.com A controversial idea among tech stocks to buy on discount, Meta Platforms (NASDAQ: META ) recently completed its full corporate transformation, not only changing its name from Facebook but also the ticker symbol (which of course is now META, not FB). However, this rebranding didnt impress shareholders, with META stock tumbling almost 50% YTD. Its a rough first half of the year for a company that is not accustomed to sustained bearishness. While there was the Cambridge Analytica scandal that hit in 2018 along with the Covid-19 pandemic later in 2020 these headwinds were relatively short and muted. At the moment, we have a trailing 52-week peak-to-trough profile of around $382 and roughly $156. In other words, META is getting pretty darn close to the lows seen during the spring doldrums of 2020. For those that felt they missed the boat, this could be a risky contrarian opportunity. While Meta has its controversies, it also has Facebook, with its multi-billion userbase and a wide breadth of demographics thats unusual for youth-centric social media networks. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace $200 Oil Sooner Than You Think Buy This Now The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 in savings or $5 million. Do this now. The post 7 Tech Stocks Trading at a Terrific Discount Right Now appeared first on InvestorPlace . || Putin signs law prohibiting crypto payments in Russia: People in Russia will soon no longer be allowed to use digital assets as a form of payment. Russian president Vladimir Putin hassigned a billinto law prohibiting the use of digital assets, such as cryptocurrency and NFTs, to pay for goods and services. In addition, asProtocolnotes, the new law also requires crypto exchanges and providers to refuse transactions in which digital transfers can be interpreted as a form of payment. The new law states:
"It is prohibited to transfer or accept digital financial assets as a consideration for transferred goods, performed works, rendered services, as well as in any other way that allows one to assume payment for goods (works, services) by a digital financial asset, except as otherwise provided by federal laws."
As aNew York Timesreport said earlier this year, US authorities believe that some Russian companies affected by sanctions imposed against their country after its invasion of Ukraine could be using cryptocurrency to circumvent those limitations. The value of Bitcoin evensurgedfor a few days after the invasion started in February.
That said, Russian authorities aren't quite keen on digital assets: The Central Bank of Russia called for an outright ban on cryptocurrency. That most likely didn't happen, because Russia's Finance Ministry was opposed to the idea and believed it was necessary to allow crypto technology to develop. In 10 days' time, the law will take effect and will make paying with crypto illegal in the country. According toDecrypt, though, Russians can still invest in cryptocurrencies like Bitcoin and presumably continue mining them as well. || CoinDesk Confidential: Bradley Miles: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Bradley Miles, co-founder of social token infrastructure platform Roll , owns bitcoin, does not own DOGE and thinks in 100 years there will be fewer currencies. His platform is built for the creator economy, it allows anyone to mint a token to monetize their brands and reward communities. Miles, a speaker at the Consensus festival , is the latest to answer CoinDesk Confidential, our updated version of the Proust Questionnaire. The original survey was popularized, but not invented, by the French novelist about a century ago, and seeks to arrive at an understanding of someone's "true nature" by asking a series of mundane and thought-provoking questions. You can take the questionnaire, updated for the crypto age, here . Do you own bitcoin? Heck yeah. Do you own dogecoin? Nope. What about SHIB? Nope, there will be many "SHIBs" in the next five years or so, no staying power. Where are you from? New Yawk Greatest fear? We aren't ethically thinking about technology enough. No one (aside from Tristan Harris) is really thinking about the ethics of technology at scale. Greatest joy? We are truly building the technology of the future, it's a dream! We also get a front row seat and get to talk to the smartest folks! What is the quality you most like in a man/woman/person? Honestly and the ability to at least have conversations 5 years in the future What do you consider the most overrated virtue? Beauty Do you often remember your dreams? I remember my dreams may once every 3 years. In a dream 3 years ago I ran into a room with a bunch of spiders and cobwebs and in the most recent dream I remember, I lost all my teeth. What does it all mean?! Do you like lemons? I love lemons and lemon juice as well 🍋 Is crypto still blossoming? This is like asking if the internet is still blossoming. Of course! for at least the next 20 years. Story continues Is crypto an ugly duck? Maybe like the Internet was an ugly duck from like 1990-1994 Should Elon Musk run Twitter? I don't have a preference here. I think it could go horribly wrong or beautifully correct. At the end of the day it's just a platform. Should countries be run as companies? Wow, hmmm, not sure. In 100 years, will there be more or fewer monies? hahaha. Nooooooo. Is the U.S. dollar a Ponzi scheme? Read the Fiat Standard. It analyzes USD through tokenomics and thinks of other fiat coins (pounds etc.) as layer 2 coins that settle on layer 1 (USD). I think USD will be around for at least the next few centuries and is not a Ponzi, Who is your favorite politician? Why? I think maybe Andrew Yang. I met him before he ran for office and he was cordial and really excited about the promise of blockchains. He still is! Is Bitcoin forever? Probably, but will only be relevant until the max supply is realized a century from now. 2200 – I don't think we really rely on bitcoin Which living person do you most admire? Sam Harris is really impressive! What is your idea of perfect happiness? No fears and a great walk Ću vi parolas esperanton? Kompreneble Do what you want or do what you must? Do what you must until they are the same Would you choose a green thumb or the absolute guarantee you will never get gangrene? ew. Green thumb probs. What is your best characteristic? I can listen and not talk for a really long time. What characteristic do you most deplore in yourself? If I know you really well, I tend to interrupt more than I'd like to admit. Do you use a hardware wallet? Fasho Greatest extravagance? Orvis backpack Your worst regret? Spending money on people. Favorite TV show? (What you're watching now?) Ozark! Or Billions (I know ... new season isn't as good)! Any words of wisdom? Don't try You can have one historical figure over for coffee, who do you choose? Dostoevsky for sure. Or Kierkegaard! Love my existentialists Jack Dorsey wanted a “Blue Sky” for Twitter. Should the web only be built on open protocols? Open protocol maximalism isn't for everyone. Once most of the midwest is on the blockchain we can start to really ask these questions. For now, they are still figuring out Snapchat. Approximate size – depth and width – of the largest hole you’ve dug? Not far, maybe like 2 feet on the beach What is your greatest achievement? Building Roll! Or writing BreakIntoVC! AI. To be pursued? For sure, but the real goal is AGI Your current state of mind? New Yawk Would you choose to live forever? Why or why not? Living forever would be incredibly painful for a number of reason, in many ways, it would be inhumane. Living 2-3x longer is interesting. Do cars look like faces to you? hehe Dogs or cats? Ask my wife Can dogs smile? Yeah, I saw it on youtube once Who is your favorite singer? At the time of the answer the Bulgarian State Television Female Choir Napkins: for or against them? Are you kidding? For Do you have a library card? Not anymore sadly. The library audiobook system is a such a good free hack. How is the weather today? Beautiful! On what occasion do you lie? oof ... no comment. What do you most dislike about your appearance? I wish I lost maybe 10 pounds! Which living person do you most despise? I don't really have too much negative energy for folks these days but probably a few dictators. Maybe Ann Coulter? Do you write a list before grocery shopping? I should If you could be safely catapulted somewhere, would you prefer to walk? hehe Do you own an article of clothing that could be called indigo? yeah Bees see ultraviolet; do you see the same world (or most of it)? huh? New York or San Francisco bagels? Dude. Yawk. How many glasses of water do you drink per day? Not enough! Are birds real? Yeah What drives you? I think I can create a better future for people that are all-in on the internet Would you ever drive a red convertible regularly? I drove a blue one for years. What or who is the greatest love of your life? My wife! And crypto! Which words or phrases do you most overuse? heh, "Wrap around" What’s your strongest-held belief that would get you "canceled"? ... What’s the funniest/smartest tweet you’ve seen that can recall off the top of your head? Elon's musks memes are funny. I like the one about "bots all the way down" referring to twitter. That or on the smart side probably a James Clear tweet. Single favorite meme? @inversebrah If you could be granted one superpower, what would it be? Making inanimate objects conscious. How would you like to die? Peacefully In three words or fewer, what is currently the largest detriment to society? Hungry poor people In three words or fewer, what is currently the greatest hope for society? Raising collective intelligence
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 22714.98, 22465.48, 22609.16, 21361.70, 21239.75, 22930.55, 23843.89, 23804.63, 23656.21, 23336.90
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-07-05]
BTC Price: 20190.12, BTC RSI: 36.79
Gold Price: 1761.80, Gold RSI: 28.04
Oil Price: 99.50, Oil RSI: 35.58
[Random Sample of News (last 60 days)]
CFTC Chief Heaps Praise on Bill That Boosts Agencys Crypto Reach: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Rostin Behnam, the chief of the Commodity Futures Trading Commission, likes what he sees from a new bill from U.S. senators Cynthia Lummis and Kirsten Gillibrand that would establish his agency as a significant crypto regulator in the U.S. It does a very good job, Behnam said Wednesday at a cryptocurrency event hosted by the Washington Post. One of the trickiest things were going to have to do and I think they address this very well is deciphering between a commodity and security. Behnam said the legislation, a potential foundation for industry oversight introduced this week, would give the CFTC authority to write rules and regulate these stakeholders. And because it also sets up industry fees that would directly fund the agency, he said it would allow bringing on more people so we can regulate the market in the right way. Lummis (R-Wyo.) and Gillibrand (D-N.Y.), also speaking at the Washington event, were quick to point out that the Securities and Exchange Commission which has been perceived by the cryptocurrency industry as being more adversarial than the CFTC is also given a major role and a new system of disclosures. The SEC has an enormous responsibility, Gillibrand said, referencing the vast number of smaller tokens likely to be defined as securities. We arent minimizing the role of the SEC. While the CFTC may oversee the most market share, because it would have authority over the trading of the largest cryptocurrencies such as bitcoin (BTC) and ether (ETH), the SEC would have the sheer numbers, Lummis said, including the crypto efforts she said would be the larger perpetrators of fraud. Lummis met with SEC Chair Gary Gensler this week, and she said he hadnt yet read the bill but has been asked for his feedback. The Wyoming senator suggested this legislation represents a working draft and is open for revision. Supporters and critics have already begun weighing in on the effort, which could extend well into next year and beyond. Story continues Galaxy Digital CEO Michael Novogratz called the bill wildly positive, adding the senators deserve three cheers. It's shocking how many Democratic politicians I now have in the office getting up to speed and trying to determine the right stance on the crypto industry, Novogratz said at a Piper Sandler conference on Wednesday. Michael Bellusci contributed additional reporting. || Bitcoin and Ether Start Recovery, MATIC Forms Bullish Candle: • Bitcoin (BTC) declined sharply and tested $30,000.
• Ether (ETH) is recovering losses from $2,200.
• MATIC seems to be setting up for a key upside break.
In the past few sessions, thebitcoin(BTC) price saw a major decline below the $35,000 level. There was a steady decline and the price traded below $32,000.
It tested the key $30,000 support and recently started an upside correction. There was a decent increase above the $31,000 and $31,500 resistance levels. Bitcoin cleared a key bearish trend line and the 21 simple moving average (H1).
However, the price is struggling to settle above $32,000 and $32,200. If the bulls gain strength, the price could recover to $33,800. Conversely, it could start a fresh decline towards the $30,000 support zone.
ETHalso followed a downtrend and traded below the $2,400 support. It even declined below $2,300 and tested the $2,200 zone.
It is slowly rising and trading above the $2,350 resistance. There was a move above a major bearish trend line at $2,380 on the hourly chart. Ether price is now consolidating above $2,400 and the 21 simple moving average (H1).
On the upside, there is a key barrier near $2,480 and $2,500. A close above $2,500 might start a steady increase in the near term.
MATICstarted a major drop from the $1.50 resistance zone. The bears gained strength for a move below the $1.30 and $1.20 support levels.
The price settled below the $1.10 level and the 21-day simple moving average. Finally, it traded below the $1.00 level and tested the $0.80 support. A base is formed above the $0.80 level and there is a strong bullish candle in place on the daily chart.
It is now facing a strong resistance near the $0.98 and $1.00 levels. There is also a major bearish trend line with resistance near $1.02 on the daily chart.
A close above the $1.00 and $1.02 levels may perhaps send MATIC price towards the $1.15 resistance zone or even $1.20. If not, there is a risk of a fresh decline below the $0.85 level.
Cardano (ADA)tested the $0.60 and recovered over 10%. The price is now attempting a close above the key $0.70 resistance zone.
Binance Coin (BNB)declined heavily and even spiked below $300. The next major resistance is now forming near the $335 level.
Polkadot (DOT)tested the $10.00 support zone, where the bulls emerged. The price is now rising and trading above $11.00. On the upside, the $12.00 level presents a major hurdle.
A few trending altcoins areSHIB,TRX, andEGLD. Out of these, EGLD is gaining momentum above the $110.00 resistance level.
Thisarticlewas originally posted on FX Empire
• Leonid Kravchuk, independent Ukraine’s first president, dies at 88
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• Russia’s invasion of Ukraine at ‘bit of a stalemate’ -U.S. intel official || Flowcarbon Raises $70m with VC Shop a16z the Lead Investor: Key Insights: Crypto carbon credit platform Flowcarbon raised $70 million, with crypto venture shop a16z taking the lead. Flowcarbon raised the remaining funds in a token sale of Goddess Nature Token (GNT). Flowcarbon plans to put carbon trading on the crypto map and carbon credits on the blockchain. Thanks to Proof-of-Work and bitcoin (BTC) mining, in particular, the crypto market has long been associated with environmental degradation. In July 2021, China imposed a ban on bitcoin mining to support China’s goal of becoming carbon neutral by 2060. Before the ban, China was the largest bitcoin mining nation, with a hashrate hitting more than 75% at its peak, according to figures from Cambridge University . (75.53% in Sept-19). By contrast, the US had a hashrate of just 4.06% in Sept-19. Since the ban, however, China has seen its hashrate climb from a Jul-21 0% to 21.1% in Jan-22. The US hashrate stood at 37.84% in Jan-22, making it the largest bitcoin mining nation. US lawmakers have been unenamoured by its position as the world’s largest bitcoin mining nation. President Joe Biden and the US have a goal of reaching carbon zero emissions by 2050. The continued use of fossil fuels to provide mining power has led to calls to ban bitcoin and Proof-of-Work mining altogether. From a global perspective, the increased focus on crypto mining reflects a sense of urgency at the government level and below for more action to save the planet. This increases the need for a transparent carbon credit market. Flowcarbon Draws Investor Interest with New Carbon Credit Platform Flowcarbon is an open-source protocol, initially launched on Celo , aiming to bring carbon credits on-chain. By tokenizing carbon credits, Flowcarbon provides a platform for project developers and carbon buyers to interact directly, resulting in a liquid carbon market with efficient pricing. The goals to help achieve the Flowcarbon mission include, Creating a more transparent, accessible carbon market. Promoting sustainable practices. Help organizations become net zero or net negative. Story continues Key climate goals include: Incentivize DAOs and other organizations to use on-chain carbon assets to become net zero or net negative. Lead by example to show DAOs how to become net negative carbon contributors by burning a portion of all fee revenue as carbon tokens. Investor interest has been impressive, with Flowcarbon raising $70 million in its first round of funding. Among first-round investors was a16z. Announcing its investment in Flowcarbon on Tuesday, a16z said, “The carbon neutral market could potentially grow to $50B by 2030, and on-chain carbon credits can help facilitate this reality. Bringing carbon credits on-chain adds major efficiencies to the market, enabling individuals and corporations to internalize the cost of emissions, reducing negative externalities that are currently socialized, and ultimately incentivizing more sustainable practices.” The announcement went on to say. “Unlike current voluntary carbon credit marketplaces, which are fractured, opaque, and gated, tokenized carbon credits allow anyone the ability to purchase credits and control when they are retired as offsets, with built in liquidity and price discovery.” With crypto mining receiving government scorn, the launch of Flowcarbon hits home the benefits of blockchain technology and the need for governments to drive innovation. Crypto Movement Goes Green with Carbon Credit Tokens In April, FX Empire reported that Algorand ( ALGO ) is to launch its first carbon emission offsetting smart contract. As a leader in the sustainability space, the new smart contract allocates a portion of every transaction fee to offset carbon emissions. ALGO is the first pure proof-of-stake blockchain and aims to minimally impact the environment. Also environmentally friendly is Solana ( SOL ). In December, Solana achieved ‘carbon neutral’ for the calendar year 2021. OCBC Bank is also targeting the carbon credit space. In April, the Singapore bank announced plans to launch tokenized carbon credit tokens before 2023. Metaverse Green Exchange (MVGX) and OCBC will join forces to provide green financing solutions for companies in hard-to-abate industries, including steel, cement, and chemical production. With other firms also targeting the tokenized carbon credit space, Flowcarbon could set the pace with names like a16z behind them. This article was originally posted on FX Empire More From FXEMPIRE: Hedge fund Elliott chases oil and gas deals, bucking Wall Street U.S. automated electric truck startup Solo AVT picks battery supplier ABS Swiss National Bank chairman says global monetary policy moving into tightening phase – magazine Analysis-As U.S. economy’s exceptionalism fades, so does the dollar Wall St opens lower ahead of Fed minutes Twitter to hold annual meeting amid Musk uncertainty || Despite ban, Bitcoin mining continues in China: Last September, China seemed tofinally be seriousabout banning cryptocurrencies, leading miners toflee the country for Kazakhstan. Just eight months later, though, things might be changing again.
Research from the University of Cambridge’s Judge Business School shows that China is second only to the U.S. in Bitcoin mining. In December 2021, the most recent figures available, China was responsible for 21% of the Bitcoin mined globally (compared to just under 38% in the U.S.). Kazakhstan came in third.
CoinDesknotesthat the rebounding China numbers could be due to miners in that country becoming comfortable that proxy servers are hiding their IP address and allowing them to continue operations in that country without fear of governmental retribution.
Miners in that country also use off-grid electricity to avoid alerting authorities.
Beijing, in announcing the ban last year, said it would examine whether organizations that receive subsidized power from the state—schools, hospitals, community centers, and other public institutions—are involved in crypto mining. If the probes identify violators of China's crypto mining ban,a government spokesperson said, they would be punished with higher electricity prices.
China’s crackdown on cryptocurrencies last year introduced even more volatility to an unstable market. The government labeled crypto mining as an "extremely harmful" industry that jeopardizes China's pursuit of carbon neutrality.
China’s not the only company to ban Bitcoin mining. Kosovo is themost recentto prohibit the act. Others include Kazakhstan and Iran.
This story was originally featured onFortune.com || FTX's billionaire chief says bitcoin has no future as a payments network- FT: (Reuters) - Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday. Bitcoin, the world's largest cryptocurrency, is created by a process called "proof of work" that requires computers to "mine" the currency by solving complex puzzles. Powering these computers needs large amounts of electricity. An alternative to the system is called the "proof of stake" network, where participants can buy tokens that allow them to join the network. The more tokens they own, the more they can mine. FTX Founder and Chief Executive Sam Bankman-Fried told FT that "proof of stake" networks would be required to evolve crypto as a payments network as they are cheaper and less power hungry. Blockchain Ethereum, which houses the second-largest cryptocurrency ether, has been working to move to this energy-intensive network. Bankman-Fried also said he didn't believe bitcoin had to go as a cryptocurrency, and it may still have a future as "an asset, a commodity and a store of value" like gold, the report said. Bitcoin touched its lowest since December 2020 last week after the collapse of TerraUSD, a so-called stablecoin. FTX, which Bankman-Fried co-founded in 2019, was valued at $32 billion in a February funding round, and Bankman-Fried himself is worth $21 billion, according to Forbes. (Reporting by Shubham Kalia in Bengaluru; editing by Uttaresh.V) || 4 Stocks That the Rich and Powerful Bought in Q1: With the market at sixes and sevens, it probably won’t hurt looking at what stocks the rich are buying and adding to their portfolios. The issue is that information on popular big-time investor stocks is often very conflicting and polarized. Thus, I picked four stocks that are currently popular among the whales of Wall Street. Additionally, I’ve contextualized how the respective stocks can be played for optimal gains. Personally, I enjoy cyclical value stocks and I’m delighted to see that some of the big investors on Wall Street are opting for the same strategy. Cyclical value provides the best long-term risk-to-return profile, in turn providing you with the best probability of achieving alpha. 7 Overlooked Value Stocks to Buy Before Wall Street Catches On But, without further delay, let’s get into it. Here are four stocks the rich and powerful bought in the first quarter (Q1): InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Price OXY Occidental Petroleum Corporation $70.64 NIO NIO Inc. $18.44 C Citigroup Inc. $51.81 GME Gamestop Corp. $126.54 Stocks the Rich Are Buying: Occidental Petroleum (OXY) A magnifying glass zooms in on the Occidental Petroleum (OXY) website. Source: Pavel Kapysh / Shutterstock.com During Q1, legendary investor Warren Buffett snapped up $4.5 million worth of Occidental Petroleum (NYSE: OXY ) stock. It is reported that Buffett’s main attraction was the company’s robust financial statements. It’s easy to see why Buffett rates the company’s financial stability highly. For example, OXY beat its Q1 earnings target by 9 cents per share amid solid operational capacity in the DJ, Delaware, and Midland basins. OXY stock is filled with intrinsic value, as the firm’s jaw-dropping quarterly cash flow of $3.3 billion adds a lot of substance to its value prospects. Moreover, the stock is trading below its fair market value. OXY stock is trading at a normalized forward price-earnings discount worth 85.02% , which conveys the stock’s deep value prospects. Story continues NIO (NIO) A Nio (NIO) sign outside of the company's facilities in Shanghai, China. Source: Andy Feng / Shutterstock.com Cathie Wood bought Nio (NYSE: NIO ) stock during Q1. The founder of ARK Invest decided that Nio presents good value for money, as the stock is in oversold territory. Nio provides a secular growth opportunity, meaning that the stock can thread cyclicality with hypergrowth prospects. For instance, Nio’s year-over-year revenue growth of 1.22x materialized during a period of economic downturn. 7 Stocks to Buy and Hold Forever in This Bear Market From a short-term vantage point, Nio’s May deliveries skyrocketed by 38% , amounting to a year-over-year increase of 4%. NIO stock has a lot of potential in the offing with supply-chain congestion in China slowing down. Additionally, the company is one of the few vehicle producers that isn’t faced with rising wage demands as China’s inflation rate remains at a mere 2.1% . Thus, I see Nio taking advantage of price arbitrage to proliferate its financial results. Stocks the Rich Are Buying: Citi (C) The logo for Citigroup (C) can be seen on the side of an office building for the company. Source: Willy Barton / Shutterstock.com Another Warren Buffett addition, Citigroup (NYSE: C ) is a hot stock at the moment as a cyclical play. Buffett’s Berkshire Hathaway (NYSE: BRK.A , BRK.B ) gobbled up nearly $3 billion worth of C stock during Q1, embodying a classic Buffett value play. C stock is a cyclical value play that could yield excess returns in the next few years. Rising interest rates could spur on the debt markets and trim the bank’s wage bill, subsequently amplifying Citi’s bottom-line earnings. C stock is undervalued. First of all, the stock is trading at a 1.75x discount to its book value, implying that investors haven’t priced the company’s asset base fully. Secondly, C stock’s dividend yield of 3.89% provides solid income-generating prospects and implies management’s confidence in the business’ future financial success. Gamestop (GME) GameStop (GME stock) logo on the outside of a store Source: Emil O / Shutterstock.com Ray Dalio invested in a meme stock. Yes, you did hear that right. The Bridgewater founder bought more than 4,000 shares of GameStop (NYSE: GME ) stock in Q1, surprising most market participants. GameStop’s transformation is what is appealing to me. The firm’s Chief Executive Officer Matt Furlong recently opined : “Our growth and the launch of new tech products, such as our digital asset wallet and the upcoming NFT marketplace demonstrate that we are, in fact, starting to transform.” 7 Undervalued Large-Cap Stocks to Buy for June I wouldn’t bet the house on GME stock. However, adding an oversold stock to your portfolio that has garnered 41.47% year-over-year in earnings-before-interest-and-tax growth won’t hurt. On the date of publication, Steve Booyens did not hold any position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post 4 Stocks That the Rich and Powerful Bought in Q1 appeared first on InvestorPlace . || GLOBAL MARKETS-Asian stocks slide as Wall St tips into bear market: By Scott Murdoch
HONG KONG, June 14 (Reuters) - Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world's largest economy into recession.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9%.
Australian shares S&P/ASX200 sank 5% in early trade, while Japan's Nikkei stock index was down 1.74%.
In Hong Kong, the Hang Seng Index slipped 1.44% and China's CSI300 Index was down nearly 1% at the open.
The negative tone in Asia follows a bleak session in the U.S on Monday, which saw Goldman Sachs forecast a 75 basis point interest rate hike at the Federal Reserve's next policy meeting on Wednesday.
"The U.S. will see rate rises faster and higher than Wall Street has been expecting," James Rosenberg, Ord Minnett advisor in Sydney told Reuters. "There will likely be the double impact of earnings forecasts being trimmed and further price to earnings derating."
Expectations for aggressive U.S rate hikes rose after inflation in the year to May shot up by a sharper than predicted 8.6%.
Fears of higher rates leading to a U.S. recession kicked the S&P 500 down 3.88%, while the Nasdaq Composite lost 4.68%. The Dow Jones Industrial Average fell 2.8%.
The benchmark S&P 500 is now down more than 20% from its most recent record closing high, confirming a bear market, according to a commonly used definition.
In U.S. trading, benchmark 10-year Treasury yields hit their highest since 2011 on Monday and a key part of the yield curve inverted for the first time since April as investors braced for the prospect that attempts to stem soaring inflation would dent the economy.
Early in Asia, the yield on benchmark 10-year Treasury notes rose to 3.3828% compared with its U.S. close of 3.371% on Monday.
The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 3.4002% compared with a U.S. close of 3.281%.
"Higher inflation, slower growth and higher interest rates are a damaging combination for financial assets," ANZ strategists wrote on Tuesday.
The dollar dropped 0.06% against the yen to 134.32 but remains close to its more-than-two-decade high of 135.17 reached on Monday.
The European single currency was flat at $1.0407, having lost 3.04% in a month, while the dollar index, which tracks the greenback against a basket of major currencies, was up at 105.19.
Bitcoin fell around 4.5% on Tuesday to $21,416, a fresh 18 month low, extending Monday's 15% fall as markets were jolted by crypto lender Celsius suspending withdrawals.
U.S. crude dipped 0.06% to $122.14 a barrel. Brent crude was down 0.13% 122.14 per barrel.
Gold was slightly lower with the spot price at $1,818.7395 per ounce.
(Reporting by Scott Murdoch in Hong Kong; Additional reporting by Alun John; Editing by Sam Holmes) || What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin slid almost 38% in June to record its second-biggest monthly loss since its debut in 2009. It traded over $31,000 on June 1 and dropped to as low as $17,700 mid-month, before recovering and ending the month at $19,209, according to CoinGecko data.
The monthly decline is second only to bitcoin's plunge of 38.6% in August 2011, and pushed prices below 2017's highs.
June's losses came amid declining macroeconomic sentiment, fears of inflation and systemic risks from within the crypto ecosystem, such as thepossible insolvency of crypto lender Celsius Networkand theblowup of crypto hedge fund Three Arrows Capital.
“The losses were caused by many factors," said Ali Kassab, chairman of crypto investment firm Centurion & Co. “These included monetary policies bordering on central banks' response to rising inflation fueled by COVID-19 and the ongoing Russo-Ukrainian war.
"From Terra’s collapse to the liquidation of Three Arrows Capital and unending layoffs, the bad trend in the crypto industry weighed down the price of bitcoin,” Kassab added, noting he expected institutional investments “to pour into the asset” and create "better price performance" in July.
Others such as Chris Terry of lending platform SmartFi say they expect bitcoin to trade in a fairly narrow range in the short term. “The feeling of the trading desk is that if bitcoin stays in the $18,000 to $20,000 [range], it's going to be a long drawn out, and we could be in this trading range now for weeks,” he said.
“Everybody kind of feels that bitcoin needs to wash out and take out all the short positions and reset, which would be probably the full 80% retracement, which is typical in the markets, which would be down in the $12,000 to $13,000 range,” Terry added.
At press time the largest cryptocurrency was changing hands around $19,200, up 0.3% over the past 24 hours.
Central bankersrenewed fears of rate hikes among investorsearlier this week at the European Central Bank’s annual forum. Federal Reserve Chairman Jerome Powell reiterated the central bank's commitment to increasing interest rates to curtail inflation.
Speaking at the ECB meeting, Powell said he was more concerned about the challenge posed by inflation than about the possibility that higher interest rates could push the U.S. economy into a recession.
Powell said the Fed had to raise rates rapidly, Reuters reported, adding that a gradual increase could cause consumers to feel that higher prices of commodities would persist. About a week ago, his commentssuggested rate hikes could softenbefore next year.
Such an outlook has caused some to opine that bitcoin hasn't hit a bottom yet, although many are optimistic it will eventually recover and surge to new highs.
“I don’t think BTC has hit the bottom yet, but I am sure the bull market will come back,” said Jimmy Zhao, founder of crypto exchange ZBX. “I recommend buying bitcoin while the price is low and holding on to it, because in the next bull run, its price will hit $100,000 at least.”
Acquiring bitcoin on the cheap and holding on until the next cycle is a sentiment shared by others in the industry.
“Indicators show the market is in extreme fear condition, [with] some long-term holders capitulating and businesses defaulting,” said Anton Gulin, business director at crypto exchange AAX. “However, it’s neither the first nor the last bear cycle, and those with better long-term operational planning see it as an opportunity to build and prepare for the next bull run.
“When someone sells, it’s always someone who’s buying. I expect a continued shift of liquidity and a series of mergers and acquisitions in the coming months,” Gulin added. || Fear & Greed Index Weighs on Bitcoin (BTC) and the Crypto Market: • On Sunday, bitcoin (BTC) rose by 1.51% to end the day at $29,452. Resistance at $29,500 capped the upside.
• The bullish session came despite a lack of any crypto news stories to shift the bearish investor sentiment.
• Bitcoin (BTC) technical indicators flash red, with bitcoin sitting at the 50-day EMA.
Bitcoin (BTC) rose by 1.51% on Sunday. Following a 1.46% gain on Saturday, bitcoin ended the week down by 2.68% to $29,452. The broadercryptomarket joined bitcoin in the green on Sunday.
A bearish start to the day saw bitcoin slide to an early low of $28,820 before making a move.
Steering clear of the First Major Support Level at $28,601, bitcoin rallied to a late-day high of $29,549 before easing back.
Breaking through the First Major Resistance Level at $29,331, bitcoin tested resistance at $29,500 before easing back.
This morning, the Fear & Greed Index fell from 14/100 to 10/100 to match last week’s low. The decline came despite bitcoin and the broader market enjoying a bullish weekend.
While avoiding a return to May’s low of 8/100, failure to breakout from its current ranges continues to spell trouble.
Regulatory uncertainty remains a concern for investors following the collapse of TerraUSD (UST) and TerraLUNAClassic.
Investigations into the events that preceded the collapse could unveil sinister activity that could further test the appetite for cryptos.
Investor sentiment towards Do Kwan and the Terra ecosystem failed to improve following the launch of LUNA 2.0.
On Saturday, LUNA tumbled by 80% to a low of $4.00 before finding support. The sell-off reflected a distrust following Saturday’s airdrop.
At the time of writing, BTC was down by 0.32% to $29,357.
BTC will need to avoid the $29,272pivotto target the First Major Resistance Level at $29,725.
BTC would need the broader crypto market to support a breakout from Sunday’s high of $29,549.
An extended rally would test the Second Major Resistance Level at $30,003. The Third Major Resistance Level sits at $31,732.
A fall through the pivot would test the First Major Support Level at $28,997. Barring an extended sell-off, BTC should steer clear of sub-$28,500 levels. The Second Major Support Level at $28,545 should limit the downside.
Looking at theEMAsand the 4-hourly candlestick chart (below), it is a bearish signal. The 50-day EMA, currently at $29,348, pegged bitcoin back. The 50-day pulled back from the 100-day EMA. The 100-day EMA fell back from the 200-day EMA, BTC negative.
A return to $30,000 and a move through the 100-day EMA at $30,148 would support a shift in sentiment.
Thisarticlewas originally posted on FX Empire
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• USD/JPY Forex Technical Analysis – Rangebound; Strengthens Over 127.410, Weakens Under 126.316 || BTC Under $20,000: When Can Crypto Make a Comeback?: Key Points H1 2022 was ugly for crypto, with the Fed scrambling to catch up to inflation and with growth fading. With Bitcoin currently down around 70% versus November 2021 highs, investors are asking whether the bottom is in. Various historically reliable indicators are signaling it is, though elevated economic uncertainty suggests that conditions will remain bumpy for now. An Ugly First Half As the second half of 2022 gets underway, crypto investors are glad to see an end to what was an unequivocally ugly first half of the year. Bitcoin ended June at around $19,900 and with losses of over 57% versus the levels where it ended 2021 around $42,600. In fact, the now-concluded second quarter of 2022 saw Bitcoin post its worst quarterly performance in over a decade after the world’s largest cryptocurrency shed around 56% in value. Generally, the losses experienced across the major altcoins were even worse. At current levels near $19,750, Bitcoin is trading with losses of roughly 70% versus last November’s record highs in the $69,000 area. Analysts have blamed the losses on a significant deterioration in macroeconomic conditions which has contributed to a series of high-profile liquidation/coin collapse events in the crypto space over the last few months. Starting with the former; the US Federal Reserve and other major central banks realized in Q4 last year that they had gotten their inflation forecasts completely wrong. Most central bankers, economists and government policymakers had thought that inflation would ease drastically in 2022 and had been calling the high inflation of 2021 “transitory”. But with inflationary pressures failing to abate in Q4 2021 and accelerating further in the first half of this year in wake of Russia’s invasion of Ukraine and a series of severe Chinese lockdowns to contain Covid-19, central banks have had to react to protect their credibility. The Fed, which had been forecasting rates at zero well into 2023 as recently as November, has now already raised interest rates by 150 bps this year and will likely raise rates to around 3.5% by December. The central bank is currently signaling rates nearing 4.0% in 2023, but also saying that rates could go way higher than this if inflation fails to abate in the second half of this year. Story continues The hawkish shift from major central banks as they scramble to tackle inflation, even if this risks tilting the US and other major economies into recession, has created a toxic environment for speculative risk assets as investors position their portfolios more defensively given all the uncertainty. The big losers have thus been the likes of the US tech sector and cryptocurrencies. The collapse in cryptocurrency prices has also resulted in a series of high-profile blow-ups of overly levered crypto hedge funds and exchanges, including Three Arrows Capital and Celsius Network . The collapse of the Terra blockchain back in May after algorithmic stablecoin UST lost its peg and resulted in LUNA hyperinflation has also sent a lasting chill across the crypto space. Meanwhile, the crypto industry is in a clear recession . Many high-profile crypto exchanges and investment service providers such as Coinbase, Gemini and BlockFi have announced plans to reduce employee headcounts. To put it lightly, things have been pretty bad this year in the crypto space. Long-term Optimism But long-term crypto believers remain upbeat. Numerous surveys suggest that the global adoption and awareness of crypto and its potential uses continue to spread. Regulators across the globe (aside from in China) appear keen to implement regulation that fosters (as US Treasury Secretary Janet Yellen put it) responsible innovation in crypto technology. Indeed, many long-term crypto investors believe that well-designed crypto regulation could be a game-changer for the industry as it would open the door to greater institutional investment in the space. A flood of capital from major global pension funds and asset managers into regulated cryptocurrencies/blockchain projects could lift prices across the board, they argue. A cursory look across crypto social media suggests that many of the most high-profile Bitcoin believers/influencers remain just as strong in their conviction that the cryptocurrency will transform the world for the better as ever. Naturally then, those who are optimistic about crypto’s long-term potential might see current valuations as highly attractive. But many dip buyers might remain somewhat nervous about whether the bottom is in. Indeed, the aforementioned economic uncertainties surrounding inflation, slowing growth and central bank tightening remain unresolved. According to Ross Mayfield, an investment-strategy analyst at Baird, a lot of pain has been priced into Bitcoin, but “that’s not to say it can’t go much lower in the near term”. “The Fed will continue to raise interest rates, and if we enter a recession, there will be even less appetite for highly risky and speculative assets,” he told Bloomberg recently. “It’s definitely facing a challenging environment going forward”. That’s the pessimistic or at least more cautious view. Many other analysts have come out recently to argue that Bitcoin is showing signs of having bottomed, or at least being close to bottoming. Bitcoin “Tourists” Almost Completely Purged, Says Glassnode On-chain data analytics firm Glassnode on Monday said that “the Bitcoin network is approaching a state where almost all speculative entities and market tourists have been completely purged from the asset”. To back up this claim, the firm cites data showing a decline in the number of daily active addresses (and entities), as well as a fall in daily transactions. the number of addresses with a non-zero Bitcoin balance has continued to advance to fresh all-time highs and recently surpassed 42.3 million, Glassnode pointed out. In past Bitcoin bear markets, there has typically been a fall in the number of wallets with a non-zero. Glassnode said this indicates an “increasing level of resolve amongst the average Bitcoin participant.” When assessing whether a bear market has run its course, investors often focus on metrics that indicate capitulation. Once the weak hands in a market have been wrung out, the stage is set for a rebound, or so conventional investment wisdom says. Thus, some might interpret Glassnode’s claim that Bitcoin tourists (the weak hands) have been almost completely purged as an indicator that the bottom might be in. Beyond just the growing dominance of strong-handed investors, “the case for Bitcoin bottom formation is one grounded in… historically significant lows in numerous macro oscillators, and a strong confluence with prices hovering in striking distance of several bear-market pricing models,” analysts at Glassnode added. Miner Selling and SOPR Both Hint at Bottom, Says CryptoQuant Senior CryptoQuant analyst Julio Moreno recently argued that a major “capitulation event” is underway amongst Bitcoin miners, which has in the past been a strong signal of a Bitcoin market bottom. As of 25 June, miners had moved around 23,000 Bitcoin to exchanges (presumably to be sold), the highest such flows since China’s Bitcoin ban in May 2021. Meanwhile, analysts at CryptoQuant separately said that an indicator called the “spent output profit ratio” (SOPR), an indicator which says whether Bitcoin investors are selling at a profit or loss, is hinting at a bottom could be close. When SOPR goes above 1.0, it suggests Bitcoin is being sold at a profit and when it goes under 1.0, it suggests the opposite. CryptoQuant analysts said that, in late June, the 14-day moving average SOPR score of BTC investors who had held onto coins for at least 155 days had fallen to 0.62. Historically, when this SOPR score fell under 0.50, that indicated a market bottom. When Can Crypto Make a Comeback? With various indicators with a track record of predicting past bear market bottom flashing once again, it seems that all crypto investors now need to do is wait for economic uncertainty to clear up a little before the next bull market can begin. Not that this is going to be easy to judge. What really needs to happen for crypto prices to begin a broad, lasting recovery is for inflation to come back under control, global economic growth to pick back up again and for central banks to ease off on the rate hikes (and maybe even start cutting again). No one knows if and when all of this is going to happen, although US bond and money markets point to an assumption that inflation in the US will fall back under control during 2023, setting the stage for rate cuts in late 2023/2024. Things could thus remain bumpy in crypto for a while and picking the bottom exactly will be near impossible. Things might get worse before they get better. But crypto investors playing the long game should remain confident. This article was originally posted on FX Empire More From FXEMPIRE: Taiwan’s largest pension fund hiring managers for $3 billion bond mandate Crypto Price Analysis July 5: SNX, COMP, LTC, GMT, BAT Ecuador’s President Lasso accepts resignation of three ministers Alberta to intervene in antitrust review of Rogers, Shaw deal Russia’s stated war aims begin catching up with reality Risk-off mood clouds London stocks amid risk of recession
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 20548.25, 21637.59, 21731.12, 21592.21, 20860.45, 19970.56, 19323.91, 20212.07, 20569.92, 20836.33
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
SEC's Gensler says crypto investors need more protection: SILVER SPRING, Md. (AP) — The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse." Gary Gensler, appointed by President Joe Biden to lead the body that regulates securities markets, listed several areas where crypto needed to be reigned in or regulated, particularly with regard to money laundering, sanctions, tax collection and extortion via ransomware. “Right now, we just don’t have enough investor protection in crypto,” Gensler said in remarks to the Aspen Institute’s forum on security, “Frankly, at this time, it’s more like the Wild West.” Digital currencies, like Bitcoin, have been left largely unregulated by major governments up to this point. In June, China ordered cryptocurrency mining operations shut down and banks started refusing to help customers with Bitcoin transactions. Although the SEC has brought and won dozens of cases against fraudsters, Gensler said the agency needs more authority from Congress — and more resources — to regulate the crypto markets. Gensler has been viewed as receptive toward cryptocurrency and other new financial technologies after a stint as a professor at MIT, where he focused his research and teaching on public policy as well as digital currencies and blockchain, the global running ledgers of digital currency transactions. Beyond the problems, Gensler said innovation in digital currencies “has been and could continue to be a catalyst for change in the fields of finance and money.” A Goldman Sachs employee for 20 years, Gensler surprised many with his toughness as a regulator at the Commodity Futures Trading Commission during the Obama administration. Gensler opened his remarks by saying he was not speaking on behalf of the SEC or its staff, but that he personally believes that regulation of cryptocurrencies would fall under his agency’s purview. Currencies such as the dollar or euro fulfill several key functions, Gensler said; they are a store of value, a unit of account and medium of exchange. By contrast, Bitcoin and other cryptocurrencies are for now mostly “highly speculative” investments. Story continues When Congress defined what a security was in the 1930s, Gensler said, one of those definitions was as an investment contract — when “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.” That definition, which Gensler says should apply to cryptocurrency, has been tested and reaffirmed by the Supreme Court. Gensler noted that his predecessor at the SEC, Jay Clayton, testified in 2018 that he believed ICOs, or initial coin offerings, were securities and that “we have jurisdiction, and our federal securities laws apply.” Gensler said many crypto tokens are unregistered securities and don’t come with market oversight or proper disclosures to educate investors. That leaves prices open to manipulation and investors unprotected, he said. “These products are subject to the securities laws and must work within our securities regime,” Gensler said. “If we don’t address these issues, I worry a lot of people will be hurt.” The combined market capitalization of all cryptocurrencies is currently more than $1.5 trillion. Tuesday’s event marked the first time the non-profit Aspen Institute included a discussion about cryptocurrency in the forum on national security. || Ocean Falls Blockchain Provides Corporate Update and Announces Plans to Go Public: Vancouver, British Columbia--(Newsfile Corp. - July 12, 2021) - Ocean Falls Blockchain Corp. (" OFB " or the " Company ") is a well capitalized and unified blockchain technology company focused on developing or acquiring relevant and disruptive blockchain applications, in addition to an environmentally conscious boutique cryptocurrency mining operation located in the historic town of Ocean Falls, British Columbia. OFB's objective is to develop and acquire a portfolio of revenue generating blockchain technology applications in addition to generating ongoing revenues from its bitcoin mining operations. The biggest crtiticism of blockchain technology is the lack of a problem to solve and no clear revenue stream. The Company's blockchain applications will focus on practical areas that can quickly scale, such as its captive insurance applications which will facilitate a portfolio of property and casualty insurance products including prize idemnity. OFB's mining facility is currently completing infrastructure upgrades from 1MW to 2MW+ of capacity with the potential of increasing capacity significantly as required. These upgrades are anticipated to be completed by August, 2021. The Company's mining operations are currently revenue generating with revenues expected to increase substantially once the infrastructure upgrades are completed. OFB has a strong national presence with a head office in Vancouver, British Columbia, crypto mining operations situated in Ocean Falls, British Columbia, including a very favorable relationship with green energy power producer Boralex Inc. (" Boralex "), and additional offices and management in Toronto, Ontario. Boralex is a Quebec based company that owns the Ocean Falls power plant with a market capitalization of over $4 billion and trades on the Toronto Stock Exchange. Ocean Falls is located at the end of Cousins Inlet, near Bella Bella, British Columbia. The history of the town is unique in that it was once the second largest paper producing mill on the BC coast, going into operation in 1912 and home to about 4000 people. The town had a K-12 school system, its own hospital, one of the province's largest hotels and an olympic swimming pool where many champions trained. The paper mill ceased operations permanently in 1980 and most of the residents moved, leaving little more than 50 people in the entire town in the decades since. The founders of OFB were interested in the history and saw a great opportunity to help revitalize the town while using some of the underutilized hydroelectric power from the original turbines since the shutdown of the mill. Story continues Canadian Public Listing OFB plans to go public through a non-offering prospectus by way of listing its securities on the Canadian Securities Exchange (" CSE "). The Company anticipates to be a publicly listed company in the summer of 2021 with sufficient capital for operations and expansion plans into 2022. Additional information on the Company is available at www.oceanfallsblockchain.com . About Ocean Falls Blockchain Corp. Ocean Falls Blockchain Corp. is a well capitalized and unified blockchain technology company focused on developing or acquiring relevant and disruptive blockchain applications, in addition to an environmentally conscious boutique cryptocurrency mining operation located in the historic town of Ocean Falls, British Columbia. For Further information, please contact: Oded Orgil Chief Executive Officer Phone: 1-888-910-6322 Email: [email protected] Forward Looking Statements This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the Company's ability to generate a portfolio of revenue-generating blockchain technology applications; the Company's ability to continue generating ongoing and increasing revenues from its Bitcoin mining operations; and the Company's ability to develop an encompassing array of assets, intellectual property and blockchain-based businesses; the ability of the Company's insurance applications to reduce costs and automate processes; the Company's ability to complete infrastructure upgrades to accommodate capacity of over 2MW; the Company's ability to complete the infrastructure upgrades by August 2021; the Company's ability to scale up its mining activities; and the Company's ability to achieve a listing on the CSE. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability and growth in popularity of blockchain applications; the Company's ability to continue to develop revenue-generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the continued development of blockchain technology; the continued growth of the Company; the Company's ability to finance the infrastructure upgrades; the Company's ability to complete the upgrades by August 2021; the Company's ability to maintain its favourable relationship with Boralex; the Company's ability to effectively scale-up its mining activities; and the ability of the Company to fulfil the listing requirements of the CSE. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the blockchain industry in general; increased competition in the blockchain-mining market; the potential future unviability of the blockchain market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to the blockchain mining; risks associated with a potential collapse in the value of blockchain-related services; risks associated with the Company's potential inability to attain board, shareholder and/or regulatory approval with respect to the planned listing on the CSE; risks associated with the Company's ability to continue generating a profit; risks associated with financing the Company's infrastructure upgrades; risk that the Company's infrastructure upgrades may not increase the Company's mining capabilities to over 2MW; risks associated with potential delays in the completion of the infrastructure upgrades; the Company's potential inability to generate a portfolio of revenue-generating blockchain technology applications; the Company's potential inability to maintain its favourable relationship with Boralex; the potential inability of the Company's insurance applications to reduce costs and automate processes; and risks associated with the Company's ability to meet CSE listing guidelines. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90012 || CleanSpark Partners With ESG Crypto-Miner Coinmint: Bitcoin miner Cleanspark Inc (NASDAQ: CLSK ) collaborated with environmental, social, and corporate governance (ESG) focused digital currency data center operator Coinmint to deploy nearly 25 MW of its Bitmain S19 Pro miners at a Coinmint operated location. The financial terms of the partnership remain undisclosed. CleanSpark plans to deploy 750 PH/s in hashrate capacity at Coinmint's facility in Massena, New York, between July and September. Coinmint has agreed to provide 25 MW of power, operations support, and 98% uptime to support the hashrate. Cleanspark expects this agreement to rapidly increase its overall hashrate across all Bitcoin mining locations to 1.2 EH/s upon installation and maximize its Bitcoin production while maintaining ESG-based mining philosophy. Additionally, CleanSpark and Coinmint intend to reach 100% renewable power. Price action: CLSK shares traded higher by 0.41% at $14.85 in the premarket session on the last check Wednesday. See more from Benzinga Click here for options trades from Benzinga SGOCO Group Regains Compliance With Nasdaq After Filing Annual Report 3D Systems Launches Material For Long-Term Use Production Parts Manufactured Using SLA Technology © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bank of America Approves Bitcoin Futures Trading for Some Clients: Sources: Bank of America, the second-largest bank in the U.S., has approved the trading of bitcoin futures for some clients, according to two people with knowledge of the matter who spoke on condition of anonymity. Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required to trade the futures, it is now allowing some clients to access the crypto market, one of the sources said. Some clients are setting up to trade bitcoin futures, which are cash settled, and one or two may have already gone live, the other source said. A number of investment banks are reportedly allowing clients to invest in crypto products. In March, Goldman Sachs confirmed plans to relaunch its cryptocurrency trading desk after a three-year hiatus, and in May, the investment bank started buying and selling bitcoin futures in block trades through Chicago Mercantile Exchange (CME) Group, using Cumberland DRW as its trading partner. Related: Market Wrap: Bitcoin Holds Above $30K but Price Chart Looks ‘Ugly’ Bank of America will also be using CME futures, according to one of the sources. Bank of America declined to comment. Earlier this month, it emerged that the Charlotte, N.C.-based bank had created a team dedicated to researching cryptocurrencies and related technologies. In 2018, Bank of America blocked financial advisers and clients from trading in bitcoin-related investments but that policy has now changed. CME bitcoin futures were launched in 2017. In May, the CME launched its “Micro Bitcoin” futures products in an attempt to capitalize on bitcoin’s price rally. Related: First Midwest Bank Trust Division Holding 29.5K Shares of Grayscale Bitcoin Trust Earlier this year, CME took the prime spot on the list of the biggest bitcoin futures trading platforms, indicating a continued rise in institutional participation. The total open interest in the bitcoin futures market is sitting at $11.3 billion, down 59% from its April 13 peak of $27.3 billion, according to Arcane Research . Update (July 16, 13:30 UTC): Adds that Bank of America declined to comment. Update (July 16, 14:36 UTC): Notes that these futures are cash settled. Related Stories Bank of America Creates Team Dedicated to Researching Crypto Santander Blocks Binance Payments for UK Customers View comments || Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?: The weird world of cryptocurrency got even weirder with the arrival of Shiba Inu. Now among the top 30 or so cryptocurrencies in the world, its staying power is a testament to the might of memes, the contagious nature of investor groupthink and the cuteness of fluffy dogs.
But is the coin that billed itself as the “Dogecoin Killer” a legit crypto investment opportunity now that it boasts more than 550,000 users? There’s a lot to consider before you can answer that question.
Find Out:Where Does Cryptocurrency Come From?Read:Why Some Money Experts Believe In Bitcoin and Others Don’t
Launched in August 2020 by an anonymous person going by the name Ryoshi, Shiba Inu was a challenge to Dogecoin from the very beginning. Its mascot — the coin’s namesake breed of Japanese dog — is also the mascot ofDogecoin, which itself was started as a joke based on a viral canine Internet meme.
Like so many other cryptocurrencies, Shiba Inu is based on theEthereumblockchain. Ryoshi started with a supply of 1 quadrillion tokens — that’s 1,000 raised to the power of five. Ryoshi then locked half of the tokens in a decentralized finance protocol called Uniswap and “burned” the other half, worth $1 billion, to Ethereum co-founder Vitalik Buterin for safekeeping. Buterin then donated trillions of Shiba Inu coins to India to help stem the spread of COVID-19 — it was history’s largest cryptocurrency donation — before “burning” 40% of the total supply to a “dead wallet.”
If you got through the last two paragraphs but have no idea what you just read, investing in Shiba Inu is probably not for you.
See:Mark Cuban Talks Dogecoin: ‘You’ve Got To Know Why You’re Investing’
Unlike Bitcoin, which is currently trading at around $35,000 per coin, Shiba Inu goes for just a tiny sliver of a penny — about $0.000008082 per token.The logic, according to Barron’s, is that cheaper coins draw wider audiences. Dogecoin, by comparison, is trading at a much more expensive 26 cents.
All that is fine and well, but like everything involving crypto trading, volatility is the name of the game with Shiba Inu. The coin briefly lost half of its value on the day that Buterin made the donation to India. That’s a single-day drop of 50% based purely on investor emotion and reaction to a news story — and in the world of crypto, that’s not at all unusual.
If you can handle that kind of heat, by all means — but keep in mind the nature of the roller coaster you’re about to board.
On May 9, Shiba Inu soared to its all-time high of $0.000035. The price almost immediately crashed back down to Earth and less than 10 days later, that number had an extra zero in it, as it does to this day.
Take a Look:What Is the Next Big Cryptocurrency To Explode in 2021?
If you want to look in your digital wallet and see millions, billions or even trillions of something, you won’t do better than Shiba Inu — but few experts would recommend that as a sound investment strategy.
Crypto, in general, is in a slump right now, particularly Ethereum-based tokens like Shiba Inu and Dogecoin. If that trend reverses course, it’s perfectly logical to believe that Shiba Inu will be lifted by the tide.In fact, on June 24, an expert writing for FXStreet used convincing logic to predict that Shiba Inu is due for an 80% price increase, and maybe it is. But it’s just as easy to find experts who predict that the coin of the moment will soon be tossed onto the trash heap of crypto history with the rest of the fallen altcoins.
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This article originally appeared onGOBankingRates.com:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? || Bitfarms Counters Environmental Criticism of Bitcoin Mining and Grows with NASDAQ: The debate continues over whether bitcoin mining is wreaking havoc on the environment or whether it's just an overwrought criticism that makes for good headlines.Bitfarms Ltd. (TSXV: BITF, OTC: BFARF), the largest publicly traded bitcoin mining company using greater than 99% renewable electricity, is surprisingly leaning heavily toward the latter end of the debate.
A recent Cambridge University analysis concluded Bitcoin consumes more energy in a year than Argentina. That same analysis suggested that if Bitcoin were a country, it would be in the top 30 energy-consuming countries in the world.
"Comparing Bitcoin to countries and ranking them does a great job of making people feel it's not only one of the leading sources of emissions already but is truly an outsized problem compared to the nearly 200 countries on the planet," Bitfarms Chief Mining Officer Ben Gagnon said. "Bitcoin has barely been around for 12 years. The data on emissions relating to climate change is measured cumulatively and goes back 270 years to 1750. That's 21 times longer than Bitcoin has existed.
"We take the overly conservative approach and project Bitcoins' current share of global emissions back to its inception and chart it historically with the cumulative amount of emissions. Taking this into account, Bitcoins' share of measured global emissions to date becomes incredibly small, only 0.028% — using this highly conservative approach."
According to the Global Carbon Project, 34 billion metric tons of carbon emissions were produced in 2020, accounting for nearly 620 times more than Bitcoin's current estimated average annual carbon emissions or approximately 0.16% of the globe's total emissions. But many people still have questions about how much bitcoin mining contributes to the world's total carbon footprint, even though everything living and every human activity produces emissions. Even renewable energy such as wind and solar has huge emissions associated with their production, installation, and when they reach the end of their productive lifespan and must be deconstructed or replaced.
Bitfarms President Geoff Morphy has pointed out publicly that his company is not burning any carbon to power its bitcoin mining operation as it's all hydroelectric. But he also has questions about whether Bitfarms can keep relying on hydroelectric power in the long run.
"As we expand, can we stay with pure hydroelectricity? We don't know. If we switch to some type of carbon because the world has an opportunity where there's surplus somewhere, and we can take advantage of that surplus, then we will," Morphy said. "We will likely always consume a lot of energy. In the scheme of importance, it's necessary to drive the decentralized economy."
Bitfarms Joins NASDAQ
Bitfarms, which for 4 years has operated blockchain computing centers powering the decentralized global economy, is now showcasing its continued growth by recently uplisting to the Nasdaq Stock Market under the symbol BITF. The company officially began trading on NASDAQ on June 21st and is now dual-listed on NASDAQ and the TSX.V. Bitfarms view the Nasdaq listing as a significant milestone following multiple years of company growth and development.
"We are the largest publicly traded bitcoin miner in North America using greater than 99% renewable electricity, for investors who are seeking exposure to Bitcoin and are concerned about environmental impact. We are one of the only companies that ticks both of these boxes. We have done so since our company's founding in 2017 and not just as a response to recent public pressures around ESG" Bitfarms founder and CEO Emiliano Grodzki said. "We are proud to be a leader in the industry in setting the highest standards for ourselves and our mining operations and uplisting to one of the most prestigious stock exchanges in the world. Having reached this milestone, we are even more excited about where it will take our company next."
Learn more about Bitfarms atwww.bitfarms.com.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Citrix's (CTXS) Secure Access Solutions Gain Solid Traction: Citrix Systems CTXS recently revealed that Iceland-based Össur is utilizing the companys digital workspace solutions and secure access offerings to set up an agile digital work platform and Zero Trust-based security framework. This will boost employee productivity amid the pandemic as well as extend safety to all applications and devices in use. Headquartered in Reykjavik, Össur is one of the well-known providers of non-invasive orthopaedics (both prosthetics and orthotics) equipment. By utilizing Citrix SD-WAN solution, Össur can safeguard network and confidential data through in-built next-generation firewalls and cloud-based Secure Web Gateway solutions. With the help of cloud orchestration platform, Össur can simplify supervision and management of network performance, noted Citrix. Citrix Secure Internet Access solution extends a complete cloud-delivered security stack that helps clients like Össur to protect users, applications and data from malicious websites and malware threats. The solution is designed to enable clients to access applications leveraging direct internet access (DIA) without negatively impacting performance. Citrix Systems, Inc. Price and Consensus Citrix Systems, Inc. Price and Consensus Citrix Systems, Inc. price-consensus-chart | Citrix Systems, Inc. Quote The digital workspace solutions from Citrix allow Össur to provide its employees with advanced apps like 3D computer-aided design (CAD) software even on mobile devices. . Evolving Workspace Underscores Opportunities Per MarketsAndMarkets report, the global digital workplace market is set to witness a CAGR of 21.3% between 2021 and 2026 and reach $72.2 billion. The cyber security market, globally, is forecast to witness a CAGR of 10.9% between 2021 and 2028 and reach $372.04 billion, per a Grand View Research report. The remote work trend has resulted in increased instances of cyber-attacks, thereby necessitating the implementation of robust secure access solutions. These projections bode well for Citrix, which is one the well-known players in the digital workspace solutions domain. Apart from Citrix SD-WAN and Citrix Secure Workplace Access solutions, the company also provides solutions like Citrix Virtual Apps and Desktops, Citrix Endpoint Management and Citrix Secure Browser. Story continues Citrix boasts more than 400,000-strong clientele base that utilizes its comprehensive suite of digital workspace and security solutions. Recently, the companys workspace and security solutions were leveraged by Denmark-based Albertslund Municipality as well as Canada-based Ottawa Hospital and IT solutions provider iOCO. With the continuation of remote work, telehealth and online education trends, Citrixs workspace solutions continue to gain steady traction. Further, recent Wrike buyout is expected to bolster the companys presence in the lucrative software as a service (SaaS)-based collaborative work management solutions domain. More importantly, the adoption hybrid/flexible work model is expected to drive demand for digital workspace solutions in the post pandemic world. According to a recent research report from Citrix, more than 90% of the professionals (millennials and Generation Z) surveyed favored flexible work model. Meanwhile, 82% of the employers surveyed were working on adapting to hybrid work culture to cater to the needs of their workforce. Nonetheless, escalating expenses toward product enhancements amid intensifying competition from VMware's Horizon and Amazon s AMZN Amazon WorkSpaces are likely to limit margin expansion, at least in the near term. Shift toward software-based solutions from traditional hardware is likely to dent App Delivery and Security revenues in the days ahead. A highly-leveraged balance sheet is an added concern for this Zacks Rank #3 (Hold) company. Stocks to Consider Some better-ranked stocks in the broader sector are Zoom Video ZM and Silicon Motion Technology SIMO. Both the stocks flaunt a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of todays Zacks #1 Rank stocks here. Long-term earnings growth rate for Zoom Video and Silicon Motion is currently pegged at 15.6% and 8%, respectively. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Citrix Systems, Inc. (CTXS) : Free Stock Analysis Report Silicon Motion Technology Corporation (SIMO) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Biden Defends Afghanistan Withdrawal, Blames Kabul's Fall On Afghan Military, Leaders And Trump: President Joe Biden unapologetically defended his decision to withdraw U.S. military forces from Afghanistan, claiming it was not in the best interests of the American people to remain in an endless war while blaming the Talibans conquest of the nation on the Afghan military, the Afghan people and previous U.S. presidential administrations that conducted the military occupation of the Central Asian nation over the previous two decades. What Went Wrong: I stand squarely behind my decision, Biden said in a speech delivered to the nation. After 20 years, I've learned the hard way that there was never a good time to withdraw U.S. forces. That's why we're still there. See Also: Taliban Fighters Enter Kabul As President Of Afghanistan Flees Biden insisted that the initial mission in Afghanistan was to get those who attacked us on Sept. 11, 2001, and make sure al-Qaeda could not use Afghanistan as a base from which to attack us again. He added that the U.S. mission was never supposed to be a nation building, it was never supposed to be creating a unified centralized democracy. Our only vital national interest in Afghanistan remains today what has always been preventing a terrorist attack on the American homeland. Biden added the terrorist threat against U.S. interests shifted to elsewhere in Asia and Africa and the U.S. in conducting missions against terrorist groups in countries where it does not have a permanent military presence. He added that if necessary, we'll do the same in Afghanistan. Furthermore, the president claimed he was boxed in by a 2020 agreement that his predecessor, Donald Trump, made with the Taliban to pull out of Afghanistan by May 1, 2021. The choice I had to make as your president was either to follow through on that agreement or be prepared to go back to fighting the Taliban in the middle of the spring fighting season, he said. We would have been no ceasefire after May 1. There was no agreement protecting our forces after May 1. Story continues While admitting that the fall of Afghanistan to the Taliban did unfold more quickly than we had anticipated, he did not take any blame for strategic failings. Instead, he seemed to blame the Afghans solely for the misfortune that befell them. The Afghan military collapsed some time without trying to fight, Biden said, noting that America cannot and should not be fighting in a war and dying in a war that Afghan forces are not willing to fight for themselves. Biden blamed Afghanistans leadership for being unable to come together for the good of their people [and] unable to negotiate for the future of their country. The president also insisted Afghan civilians didn't evacuate sooner because some of the Afghans did not want to leave earlier, still hopeful for their country, and part of it was because the Afghan government and its supporters discouraged us from organizing a mass exodus to avoid triggering, as they said, a crisis of confidence. Biden stated that with U.S. troops out of Afghanistan, his administration will continue to put pressure on the Taliban. We will lead with our diplomacy, our international influence, and our humanitarian aid will continue to push for regional diplomacy and engagement to prevent violence and instability, he said. We'll continue to speak out for the basic rights of Afghan people, of women and girls just as we speak out all over the world. I've been clear that human rights must be the center of our foreign policy, not the periphery. Biden stated he was willing to accept criticism for his decision and echoed Harry S. Truman by claiming the buck stops with me. He ended his speech by ignoring questions shouted by reporters and exiting back into the White House. The president's speech covered many of the highlights in a White House Talking Points memo that Washington Post columnist Josh Rogin obtained earlier on Monday. The memo was sent to House Speaker Nancy Pelosi for distribution to congressional Democrats. One Month Earlier: The presidents comments echoed some of his statements from a July 8 speech where he insisted the time had come for the U.S. military presence in Afghanistan to conclude. We went for two reasons: one, to bring Osama bin Laden to the gates of hell, as I said at the time, Biden said. The second reason was to eliminate al-Qaidas capacity to deal with more attacks on the United States from that territory. We accomplished both of those objectives. Period. Thats why I believe this is the right decision and quite frankly overdue. In taking questions from reporters during the July 8 presentation, Biden insisted a U.S. withdrawal from Afghanistan would not resemble the chaotic final days of the Vietnam War when U.S. military helicopters conducted evacuations from the rooftop of the U.S. embassy in Saigon. Theres going to be no circumstance where you see people being lifted off the roof of an embassy, Biden said then. It is not at all comparable. However, images of U.S. military helicopters evacuating embassy personnel in Kabul created an uncomfortable mirror image to the 1975 humiliation in Saigon, while video footage of Afghans clinging to U.S. military jets as they tried to take off with some people holding on and then falling to the deaths as the aircraft went into flight added a new degree of horror to the situation in the Afghan capital. Taking Responsibility: The sudden collapse of the government of Afghan President Ashraf Ghani, who fled the country on Sunday ahead of the Talibans movement into the capital city, caught the Biden administration off-guard. While the administration never assumed the Ghani government could defeat the Taliban an unnamed administration source told the Washington Post on Aug. 10 that Kabul could fall within 90 days the speed of the Talibans success was disconcerting. Still, the administration appeared to be building a defense for any potential foreign policy embarrassment with a written statement on Saturday attributed to Biden that put much of the blame on the current state of Afghan affairs on Trump: When I came to office, I inherited a deal cut by my predecessor - which he invited the Taliban to discuss at Camp David on the eve of 9/11 of 2019 that left the Taliban in the strongest position militarily since 2001 and imposed a May 1, 2021 deadline on U.S. forces. Shortly before he left office, he also drew U.S. forces down to a bare minimum of 2,500. Therefore, when I became president, I faced a choice follow through on the deal, with a brief extension to get our forces and our allies forces out safely, or ramp up our presence and send more American troops to fight once again in another countrys civil conflict. I was the fourth President to preside over an American troop presence in Afghanistan two Republicans, two Democrats. I would not, and will not, pass this war onto a fifth. Outside of the aforementioned written statement and a White House photo of the president sitting alone in a Camp David conference room while conducting a videoconference with members of his national security advisors, the Biden administration mostly kept an uncommonly low profile over the weekend as the news from Kabul emerged. Neither Biden, Vice President Kamala Harris nor Secretary of Defense Lloyd J. Austin III were seen in public, and emailed media inquiries to White House Press Secretary Jen Psaki were answered by an automated message that said she was on vacation for the week of Aug. 15. Instead, Secretary of State Antony Blinken became the administrations public face, addressing the situation on Sunday morning news programs. Blinken bristled at Vietnam War references, telling ABCs "This Week" , This is not Saigon. The fact of the matter is this: We went to Afghanistan 20 years ago with one mission in mind. That was to deal with the people that attacked us on 9/11. That mission has been successful. Blinken told NBCs "Meet the Press" that the presidents decision to exit Afghanistan was the right decision. Twenty years, $1 trillion, 2,300 Americans who lost their lives, a massive investment, Blinken said. And the president concluded that it was time to end this war. As a strategic matter, there is nothing that our strategic competitors would like more than to see us bogged down and mired in Afghanistan for another five, 10, 20 years. That is not in the national interest. National Security Adviser Jake Sullivan also made appearances on television Monday morning, echoing Blinken's comments. See Also: Taliban Takeover Of Afghanistan Shows Need For Wider Adoption of Bitcoin, Other Cryptos, Say Backers Predecessor Response: Neither former Presidents George W. Bush (who ordered the 2001 Afghanistan invasion) nor Barack Obama (whose administration pursued 9/11 mastermind Osama bin Laden from Afghanistan to Pakistan, where he was killed in a raid on his compound by U.S. special military operation), issued public comments on the unfolding Afghan crisis. Last month, Bush gave an interview to Germanys DW News warning that a withdrawal of U.S. troops from Afghanistan would be a mistake because many Afghan women and girls faced a return to brutal treatment by the Taliban and the locals who worked with the U.S. military over the past two decades had no guarantee of safe passage out of the country. It seems like they're going to be left behind to be left behind to be slaughtered by these very brutal people, Bush said. It breaks my heart. Fox News reported that Obamas Instagram page briefly shut off its comments function when it began receiving messages from his social media audience to speak out on Afghanistan; former First Lady Michelle Obama's Instagram page also had its comments section temporarily closed for the same reason. Trump called on Biden to resign and condemned the handling of the U.S. withdrawal. Afghanistan is the most embarrassing military outcome in the history of the United States, Trump said in a statement. It didnt have to be that way! Can anyone even imagine taking out our Military before evacuating civilians and others who have been good to our Country and who should be allowed to seek refuge? Photo: President Biden speaking on the Afghanistan crisis, courtesy of the White House. See more from Benzinga Click here for options trades from Benzinga Malaysia's Prime Minister Resigns Amid Political Infighting, COVID-19 Crisis Wall Street Crime And Punishment: The Mafia, Micro-Cap Market And The 'Largest Securities Fraud Takedown In History' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Anatomy of Ransomware Attack: Chat Support, a Discount and a Surcharge for Bitcoin: A new study of a ransomware attack reveals the dialogue that takes place between the attacker and the victim including live chat support, a negotiated discount and a surcharge for paying inbitcoin.
Research by blockchain analytics firm EllipticpublishedMonday examines the case of a small business being contacted by REvil ransomware attackers demanding $50,000 inmonerofor a decryption tool.
In the ensuing dialogue on a “victim portal” reminiscent of live chat support on an IT help website:
• The victim stated that $50,000 was too steep and asked for a reduction, to which the attacked replied “My boss can offer 20% discount.”
• Rather than paying in the anonymity-focused crypto monero, the victim asked to pay in bitcoin as it was easier to obtain. The attacker accepted the request, albeit with a 10% surcharge, reflecting the increased traceability of bitcoin.
• The victim asked for reassurance that the attacker could perform the decryption by requesting a demonstration with two of the affected files, which the attacker appeared to oblige.
• The attacker rejected a request to cut the payment to $10,000 or $20,000, finally agreeing to “25K and okay not lower.”
Related:Biden Accuses Chinese State Actors of Ransomware, Cryptojacking Attacks
Elliptic’s research then shows the steps REvil took to launder the bitcoin received, splitting it into different streams, transferring it to different wallets and combining it with bitcoins from other sources. The analytics firms said it was able to make the information available to law-enforcement bodies, crypto exchanges and financial institutions to identify coins and wallets associated with cybercrime to take appropriate steps in preventing the criminals from being able to cash-out.
“This laundering process in this case is still ongoing, but nevertheless we can already trace some of the funds to exchanges,” the report said. “Those exchanges will have information on the identities of people whose accounts received the funds – providing strong leads for law enforcement.”
While high-profile attacks on large companies and critical infrastructure, such as the one thathitColonial Pipeline in May attain widespread attention, small businesses account for 50%-75% of ransomware victims, according to Elliptic’s report.
• Republican Senator Highlights Bitcoin’s Battle in Shedding Criminal Baggage
• US State Department Offers to Pay for Cybercrime Tips With Crypto
• White House Plans Ransomware Task Force: Report || AMC Entertainment Will Accept Bitcoin For U.S. Tickets, Concessions By Year End – CEO Adam Aron: AMC Entertainment chairman-CEO Adam Aron said the chain will be technologically equipped to start accepting Bitcoin payments for U.S. movie tickets and concessions ordered online by the end of the year. At a meaty, newsy and somewhat bizarre webcast, Aron also noted the chain will also start accepting Apple Pay and Google Pay. More from Deadline AMC Entertainment Moves To Refinance Debt - Report Crypto.com, Which Took Naming Rights On Staples Center, Loses $30M In Hack Attack Adam Aron Unloads More Of His AMC Entertainment Stock, CEO Promises No More Selling Aron noted that many of the company’s big new crop of retail investors, which he’s embraced heartily, are highly enthusiastic about cryptocurrency. He said he learned about cryto while serving a stint on the board of Centricus Acquisition Corp., a SPAC (or special purpose acquisition company) set up by one one of his “closest European friends” of more than 20 years, chairman of Silversea Cruises (Manfredi Lefebvre d’Ovidio). Centricus acquired a firm called Arqit, which Aron said “is on the cutting edge of quantum encryption and blockchain technology.” AMC reported stronger than anticipated second-quarter financial results this afternoon. Aron hosted the call with hundreds of investors on the line, ticking off a stream of new initiatives some of which, like the Bitcoin gambit, sounded like a wish list or attempt to show chat-room investors that he’s on the same page. It’s not clear how a Bitcoin — which is worth $45,947.90 at current prices — could pay for a night out at the movies. Aron took a raft of questions from the retail crowd — from whether the company will invest in drive-ins (no, a bad business) or consumer products (eh, could do) or film production (it’s expensive). He took the opportunity of that last query to recall AMC’s production venture with Regal, Open Road, and its Oscar wins for Spotlight — then segue into why the company needs to sell more stock and raise cash for big plays. Story continues Investors on Wall Street chatrooms like Reddit and others have bough in, buoyed the stock and Aron owes them a lot. He bowed to group pressure at the company’s annual meeting earlier this month that it not seek authorization to sell more shares. He took over a dozen questions from them on the call, and only one from a Wall Street analyst at the tail end. He did make some major news, like a deal with Warner Bros . and plans to buy and build new theaters . Best of Deadline Cancellations/Renewals Scorecard: TV Shows Ended Or Continuing In 2021-22 Season What's New On HBO Max For January 2022: Day-By-Day Listings For TV Shows & Movies New On Prime Video For January 2022: Daily Listings For Streaming TV, Movies & More
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-05-27]
BTC Price: 473.46, BTC RSI: 68.19
Gold Price: 1213.80, Gold RSI: 33.11
Oil Price: 49.33, Oil RSI: 69.54
[Random Sample of News (last 60 days)]
A Q&A With The New CIO Of OptionsHouse: The 2016 Benzinga Fintech Awards is the only event in fintech dedicated to recognizing innovation in financial services and capital markets. Ahead of the May 24th awards show and gala, meet the industry leaders who will be in attendance. Who he is: Lance Braunstein, recently named CIO of Aperture Group, owner of OptionsHouse . What attracted you to OptionsHouse? Braunstein: The combination of a great investor, General Atlantic, a world-class management team, and the opportunity to innovate solutions on the base of a leading platform. What ideas can you offer for how you'll shape OptionsHouse’s technology strategy going forward? Braunstein: Our technology strategy will unfold in a number of phases. First, we will continue to evolve our core execution platform to be best-in-class. This will include a new mobile app for iOS and Android as well as a new responsive website by the end of the year. We are also developing a rich services framework for more nimble software development and to allow our clients to interface with us programmatically. The second phase of our strategy involves the evolving needs of the active trader. We are exploring a number of new products and services to ensure we can deliver the most timely data in the best channel to meet our client's needs. Braunstein : I continue to see data management, analytics and visualization as a key driver for our markets. Being able to consume and make sense of the massive amounts of data and derive a signal from the noise is more pressing than ever. I also think that startups and established firms alike are starting to take up the idea of blockchain, with an understanding of its differences from Bitcoin, and leveraging it in a number of new and creative ways. I'm excited about automated advisory services. There's still a long way to go in developing intelligence in this space and I suspect we'll see continued innovation here. One trend that I suspect will fade is the idea that fintech firms can fly under the regulatory radar--this just seems short-sighted. Tackling regulatory requirements like retention, supervision and information barriers is key when providing solutions in regulated industries. One piece of advice he’d offer to people trying to break into fintech: Braunstein : A VC friend of mine once said ‘You should always be able to articulate your value proposition on the back of a business card.’ My piece of advice is make sure that your messaging is crisp so if you find yourself on an elevator and you have 30 seconds, you’re able to very succinctly articulate the space, problem, and commercial value. That’s something typically an engineering minded person might overlook. If you want to meet Lance, get a ticket to the Benzinga Fintech Awards next Tuesday, so get your tickets now! See more from Benzinga Russell Simmons' Prepaid Debit Card Just Cost Him Million Who's The Most Outstanding Military Veteran In Fintech? Angel Investing Is Now Available To Pretty Much Everyone. Yes, Even You. © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 'I'm sorry': Craig Wright on lack of evidence he created bitcoin: By Jemima Kelly LONDON (Reuters) - Australian tech entrepreneur Craig Wright, who earlier this week said he would provide "extraordinary proof" that he was the creator of digital currency bitcoin, will not provide any further evidence, according to a post on his blog on Thursday. Although Wright did not renege on his claim to be Satoshi Nakamoto - the name, assumed to be pseudonymous, of the person or group who created the web-based currency in 2008 - the U-turn was taken by many bitcoin experts as confirmation of their suspicions that the claims were false. "I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," Wright wrote. "But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." Bitcoin is a web-based "cryptocurrency" that enables users to move money across the world quickly and anonymously without the need for third-party verification. Various attempts have been made to identify its elusive creator, but Wright's claims stood out due to the high-profile endorsements they received. Lead bitcoin developer Gavin Andresen and bitcoin consultant Jon Matonis both wrote blogs on Monday endorsing Wright's claims, saying they had been shown proof by Wright that he was Nakamoto. Wright said on Thursday that Andresen and Matonis had not been deceived, but "that the world will never believe that now". "I think he's significantly less likely to be Satoshi than any other person that's been suggested," another lead bitcoin developer, Peter Todd, told Reuters, referring to others who have been suspected of being bitcoin's creator. "PLAIN FISHY" After coming under pressure to provide more credible evidence that he was bitcoin's creator, Wright had blogged on Monday that he would provide "independently verifiable documents and evidence" that would back up his claims. The post could no longer be found on his blog site. Story continues "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 (BTC=ITBT) , making the 15 million or so in circulation worth a total of around $7 billion. Wright said his failure to produce better evidence would cause "great damage to those that had supported" him, in particular Matonis and Andresen. "I can only say I'm sorry. And goodbye," Wright wrote. (Reporting by Jemima Kelly; Editing by Toby Chopra) || After hospital ransomware attack, time for some blunt talk about cybersecurity: Your standard medical drama is supposed to end with a “how it happened” scene, in which doctors explain what really went wrong with the patient and how they solved it. But it doesn’t look like the recent ransomware episode at MedStar Health will get that traditional resolution. We know from well-sourced reports that the mid-Atlantic hospital chain got hit with a strain of ransomware that locked up some of its files. (In such attacks, miscreants encrypt a victim’s files and demand payment — often in the form of Bitcoin — for the decryption key.) We know that containing the problem knocked many of the hospital’s computer systems offline and forced doctors and nurses to communicate via paper and fax . But we don’t know how the attack happened or what MedStar did to fix it. And the Columbia, Md., company doesn’t plan to tell us. “Based on the advice of IT, cybersecurity and law enforcement experts, MedStar will not be elaborating further on additional aspects of this malware event,” reads a statement posted on its site last week. “This is not only for the protection and security of MedStar Health, its patients and associates, but is also for the benefit of other healthcare organizations and companies.” The sound of cybersecurity silence MedStar’s case is not unique, and neither is its subsequent silence. In February, Hollywood Presbyterian Medical Center in Los Angeles suffered its own ransomware attack . The hospital acknowledged that it was ransomware and even specified the sum demanded (40 bitcoin, or about $17,000). But it provided no hint as to how it got hacked or what it has done to thwart future attacks. Cybersecurity experts know this secure-it-and-shut-up routine well. “The industry status quo is not to reveal the cause of breaches,” emailed Katie Moussouris , a Washington-based security consultant. “Disclosure often only happens when action must be taken externally to apply the defense” — that is, somebody outside the organization has to change a password, patch a server, or take a system offline. Story continues “I can’t think of any company that’s been transparent about it,” said Ars Technica’s veteran security reporter Sean Gallagher in a Twitter direct message. It’s not that corporate leaders don’t realize the importance of working with their peers: They do, but still would rather not reveal the ugly details of attacks. A recent survey of 700-plus C-suite executives by IBM Security found that while 55 percent favored more industry collaboration, 68 percent were reluctant to share incident information outside their own firms. Meanwhile, attackers have fewer hang-ups about talking about their tactics. “The bad guys are always better at sharing than the good guys,” emailed Jeremy Epstein , a security scientist with SRI International. Different ways to disclose Other industries aren’t as opaque in documenting their mishaps. For a particularly dramatic contrast, you could look to commercial aviation. Any serious accident spurs an investigation by the National Transportation Safety Board, and even something as relatively minor as a flight attendant breaking a passenger’s foot with a beverage cart warrants an NTSB writeup. The idea is to publicly identify what went wrong so nobody ever does it again — and it’s made flying an incredibly safe way to travel. Epstein noted that this culture of safety owes something to government influence: “Airlines have more regulatory requirements to disclose.” In other business sectors, that influence is less pronounced. But, he added, airlines themselves can still clam up about cybersecurity issues that don’t directly affect flight safety. He cited a run of flight cancellations last year that were apparently the result of fake flight plans that pilots immediately flagged , but which airlines later vaguely labeled as “unanticipated technical problems.” Companies and organizations are supposed to be able to share confidential information, including details of unpatched vulnerabilities, in private forums such as industry-specific Information Sharing and Analysis Centers . For instance, airlines can team up at the Aviation ISAC , while medical facilities can collaborate privately at Healthcare Ready . So is MedStar at least documenting what went wrong in that health care forum? The hospital won’t even say that. Said spokeswoman Ann Nickels in a text message: “I have nothing further to add.” What silence really says The immediate benefit of disclosure — after you’ve patched your shop and helped peers with equally sensitive systems secure their own — is education for everybody else who might not be in the same line of work but who might be running software with the same vulnerability. “The best way to educate the public on how to not make the same mistakes is to publicly disclose the cause of a breach,” Moussouris said. But organizations don’t have much motivation to take that first step. And until more of them do, hopelessly vague cybersecurity storylines imply that hacks just happen — they don’t — and that we must blindly trust large corporations to fix these apparently inevitable problems. That leaves us not just unaware of security flaws that might be lurking on our own computers, but generally powerless in the entire cybersecurity debate. Moussouris, who has helped organize such collaborative vulnerability-research initiatives as the Defense Department’s “Hack the Pentagon” project , suggested it would take either regulation — “which can be more damaging than helpful in some cases” — or pressure from customers. But if I or somebody in my family needs urgent care, and the closest hospital is a MedStar facility, am I going to complain about their infosec? Absolutely not. So this problem isn’t going away anytime soon. Email Rob at [email protected] ; follow him on Twitter at @robpegoraro . || Penny Stocks To Buy: Four Trending Small Cap Stocks on Tuesday April 19: MIAMI, FL / ACCESSWIRE / April 19, 2016 /Daily Stock Reporter is issuing a report on four stocks to watch.AVRN, MNTR, CHZP,andAGHIhave been added to our watch list today. Continue reading to find out why. - To get daily alerts on top stocks on the OTC, Nasdaq and NYSE subscribe to our newsletter at DailyStockReporter.com.
Avra Inc. (AVRN)offers a range of solutions that streamline and modernize businesses & merchants by integrating Bitcoin payments & acceptance. As of 10AM EST on Tuesday April 19, the stock has seen well above average volume and increased price movement. From a previous close of $0.13 on Monday (4/18), shares of AVRN rose as much as 54% following early morning highs of $0.20 on Tuesday. Since the beginning of March the stock has increased in price by as much as 785%.
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Mentor Capital, Inc. (MNTR)announced earlier in April that it has acquired the international patent for the smokeless administration of THC, CBD and Cannabinoids, from its developer R.L. Larson through Larson Capital, LLC. "We started this patent related effort in 2012, before the cannabis boom, with an eye toward easier more discrete use by cancer patients and the elderly," says R.L. Larson. "As an inventor and cancer survivor with long public company leadership experience, and now as a Mentor shareholder, I am pleased to be working with Mentor Capital because of their medical bias in the cannabis space and solid approach to public company operation."
As of 10AM EST the stock has seen early trading volume and intra day price movement of as much as 0.10 above its opening price of $0.54.
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Chess Supersite Corp. (CHZP)whose primary business is the development and operation of the chess portalwww.chesssupersite.com, announced on Tuesday April 19 that the Company has been selected to broadcast both US Men's and Woman's Championships held in the US capital of chess, St. Louis, Missouri. The U.S. Championship will culminate with the top three players competing in a special blitz round- robin format against legendary chess champion Garry Kasparov. The round- robin tournament will take place over two days upon the conclusion of the Championships. For a little over one week, shares of CHZP have begun to climb in price. On April 11 the stock opened at $0.20 and this morning (4/19) the stock has seen a high of $0.48 to mark a total move to this point of 140%. Volume has also begun to increase in comparison to previous weeks.
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Agora Holdings, Inc. (AGHI)announced earlier in April that the companyhad signed an engagement letter with an independent accounting and auditing firm, BF Borgers CPA PC. The signing of the engagement letter represents a significant step forward for Agora Holdings in becoming a fully reporting entity. Agora Holdings, Inc., together with its subsidiary Geegle Media and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, TV, studio entertainment, consumer products and interactive media. During the last 3 months, shares of AGHI have seen price as high as $0.49 with the highest daily volume being 967.4K shares.
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SOURCE:DailyStockReporter.com || IFAN Financial, Inc., Netclearance Systems Begin Commercial Deployment Of Smart Beacon Technology: SAN DIEGO, CA / ACCESSWIRE / April 14, 2016 /IFAN Financial, Inc. - (OTC PINK: IFAN), ("IFAN" or "the Company"), a designer, developer, and distributor of software to enable mobile payments, announced that it has begun commercial deployment of the mBeaconPay and mBeacon2 ("M2") payments technology in collaboration with its strategic partner Netclearance Systems ("Netclearance"). This deployment follows the successful completion of beta testing for these systems.
mBeaconPayis the first mobile OS agnostic cash-based payment terminal for retail, transit, gas and hospitality. The mBeaconPay supports all wireless proximity technologies such as BLE, NFC, QR and Wi-Fi in a single unit and integrates seamlessly with all point of sale system. mBeaconPay was recently nominated for Best Cash Innovation Award by PYMNTS.com, one of the leading publications in the payments and commerce industry.
ThemBeacon2is a dual transmitter beacon that engages Wi-Fi and Bluetooth LE devices in proximity. mBeacon2 is ideal for engagement applications and also can be deployed in presence applications. The mBeacon2 transmits a Wi-Fi and BLE signal simultaneously that can trigger events and engage mobile clients regardless of smartphone operating system
J. Christopher Mizer, President and CEO of IFAN Financial commented, "Our mBeaconPay and M2 represent one of the most versatile technologies in our industry. This technology is suitable for small to large scale retail operations, basically any business-to-consumer entity where the company take payments from the customer using any global currency, including Bitcoin and other virtual currencies. It integrates seamlessly with our PayX platform, offering flexible form factors, including white label and flexible power options, and is plug and play with point-of-sale terminals, while supporting multiple enterprise applications.
"mBeaconPay and M2 provide loud connectivity via Wi-Fi, Ethernet or Mesh, and have configurable power transmission and receive sensitivity. We have engineered extended battery-life into our battery powered models, lasting over 5 years without a charge, and all enjoy integrated enterprise security (AES, SHA, ECC)."
Mizer added, "The future is cashless, and we already see this in several of the smaller economies in Europe. There are over 35,000 beacon deployments in Denmark and Norway, with $28 billion in transactions processed. Combined the GDP of both nations is $847 billion, about half of which is consumer spending. This means that beacons are already handling about 5% of consumer spending there already. We look forward to demonstrating the versatility of our platform as we announce further commercial contracts that will utilize the mBeaconPay and M2 technology."
About IFAN Financial, Inc.
along with its wholly owned subsidiaries and joint ventures, design, develop, and distribute technology to enable and enhance mobile and traditional payments. The IFAN Platform consists of proximity based beacons, merchant processing, a mobile wallet, and prepaid card and debit card options. IFAN's consumer facing entity, PayX, includes a portfolio of payment solutions through the mobile optimized platform capable of facilitating on-demand payments, auto-payments, split-funded payments, proximity marketing, and spending of platform funds through a linked card. IFAN and PayX provide businesses with the world's first white label, mobile optimized platform that connects to any point of sale system and enables the next generation of marketing and payments with the capability to remit internationally. For more information, visitwww.ifanfinancial.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact:
IFAN Financial, Inc.Steve SchollChief Financial Officer3517 Camino del Rio SouthSuite 407San Diego, CA 92108Direct: 858-277-9868FAX: [email protected]
SOURCE:IFAN Financial, Inc. || Murray Stahl Talks Investments Made Through FRMO: - By Bram de Haas Guru Murray Stahl ( Trades , Portfolio ) is the CEO and chairman of FRMO Corp. (FRMO). Together with CFO Steven Bregman, they report on the investments made through FRMO on a quarterly basis. There is no transcript available yet for the most recent call, but you can listen to the archived call. Warning! GuruFocus has detected — Warning Sign with WMT. Click here to check it out. FRMO –5-Year Financial Data The intrinsic value of FRMO Peter Lynch Chart of FRMO The call can be a little bit chaotic if you are a new shareholder, but they are absolutely worth listening too. Stahl and Bregman are full of valuable insights into the markets and readily share wisdom related to their unconventional approach to value investing. Balance sheet The call starts out with them commenting on the balance sheet. Equity went down by a meaningful amount and the duo got several questions from shareholders about why it went down and whether the decline would be permanent. A meaningful part of the reduction in book value is due to current assets decreasing by $–– million. A deferred tax liability was decreased and the securities sold, not yet purchased program was expanded a little bit. This is a post where they account for short positions in path dependent ETFs. The way I understand it, they had to take their gains in these positions, which triggered a tax. Afterward they initiated the positions again with a new cost basis. The HK multistrategy fund declined in value. Over the calendar year, the fund didn’t do so bad (-–—%), but throughout the reporting period the fund went down by —5%. There were also some redemptions, although they were quick to point out March had been a very good month. Digital Currency Group Stahl talked a little bit about a new investment in the Digital Currency Group. DCG is a corporation devoted to crypto currencies. Stahl expects cryptocurrencies will become a legitimate asset class. DCG owns various venture investments in technologies involved with digital currencies. They own equity in Coinbase (an exchange), Ripple (utilizes blockchain for cross-border transactions) and Grayscale (a money manager of crypto currencies). Governments around the world historically had the tendency to inflate asset prices or currency. Little by little you are purchasing power, a constant threat in history. Being on a metallic standard has historically also caused inflation.� Story continues The blockchain is a ledger and the coins can’t be counterfeited. If more transactions are done in a currency it raises its value. If Bitcoin were to become the new gold (Stahl doesn’t necessarily agree, but raises it as a possibility suggested by others), Bitcoin would appreciate by –………x in value. If it were to become currency for the world, you would make —…………x your money. Even though it is a very small investment, Stahl views it as a really important strategic investment. It's possible the stake would be expanded. Market outlook If oil went to $45 by end of the year, CPI would go to —.‘% and the Fed would have its hand forced and would need to raise rates. This would cause problems in the market. You have to diversify away from stocks. Over the last ‘5 years, interest rates came down and stocks were successful. FRMO is now operating on the premise that two guys picking stocks isn’t going to cut it going forward. The firm keeps a lot of cash on the balance sheet and views it as optionality. When the next crash (Stahl doesn’t actually use the word crash) comes, the firm will profit by having lots of liquidity. One of the reasons they like small exchanges so much is that the optionality embedded in them is huge. If big mergers go through like the one between the London Stock Exchange and Deutsche Borsche, these players raise prices and clients are angry and want to move business. Meanwhile there are few licensed exchanges and the small ones are suddenly very well positioned. ETFs Stahl views it as very dangerous to be invested in big dominating companies. Big liquid companies pay out a little bit of dividend and throw the rest at buybacks. These companies have defined benefit pension plans, but the stock has to rise or the company has to put extra money into these plans. This means that when the flows into large cap liquid companies is starting to slow, the effect can be dramatic. Big liquid stocks make up huge allocations in focused ETFs. What’s wrong with that? You take a lot of individual security risk by buying this ETF. At some point an event will make that apparent to lots of people invested in these type of securities. Something else he doesn’t like is the typical dividend ETF. Earnings of the constituents of these products are ever so slightly declining. They have record margins right now, and can’t go up or down by much. These companies are currently saving a lot on the commodity side and not passing this on to the consumer. The risks in ETF land are exacerbated because ETF providers aren’t making money and can’t make a lot of money on these products because the fees are too low. This structure of the industry leads to only a few companies being a major part of all ETFs. An index was supposed to take out risk, and now you are taking on risk by buying into them. Everyone owns the same companies.� Indexation is not in the early innings, it’s in the late innings. It will possibly go into extra innings. This article first appeared on GuruFocus . Warning! GuruFocus has detected 2 Warning Sign with WMT. Click here to check it out. FRMO 15-Year Financial Data The intrinsic value of FRMO Peter Lynch Chart of FRMO || Your first trade for Tuesday: The " Fast Money " traders gave their final trades of the day. Pete Najarian was a buyer of IBM. Brian Kelly was a buyer of GDX. Karen Finerman was a buyer of C. Guy Adami was a buyer of CSCO. Trader disclosure: On Monday, April 11 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: PETE NAJARIAN is long AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB Long Calls: AAL, AMAT, AGN, AKS, AMJ, BAC, BAX, BBBY, CL, CRM, DAL, EBAY, ECA, EGO, ENER, GRPN, HAIN, IBM, KBH, KO, KSS, LC, MDLZ, MET, MSFT, NLNK, POT, RIG, SBUX, SCHW, SLV, SLW, SPG, TCK, UAL, WYNN, XOM, YHOO, ZIOP, EWZ, GDX. Long Puts: DB, HES, MS, PBR, RY, VLO BRIAN KELLY is long BBRY, Bitcoin, GLD, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures KAREN FINERMAN is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, BOKF, C, C calls, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. GUY ADAMI is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Benton Capital Increases Land Package at Wisa Lake Lithium Project: THUNDER BAY, ONTARIO--(Marketwired - Apr 26, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to announce that it has acquired a 100% interest through staking in an additional 30 units in 2 claims at its Wisa Lake Lithium project located 80km east of Fort Frances, Ontario (see BTC PR April 19, 2016). The property is connected to Highway 11 (Trans Canada), located 65km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dyke located approximately 900m south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis.
As indicated in the Company's PR dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category.
The Company has recently applied to change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol. The Company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of 7 cents for a period of 5 years.
All of the above transactions are subject to TSX.V and regulatory approvals.
Benton Capital is well funded with approximately $1 million in cash.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release.
On behalf of the Board of Directors of Benton Capital Corp,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. || Californian Startup NextTech Invited by Russian Government to Give Blockchain Presentation: LOS ANGELES, CA--(Marketwired - Apr 29, 2016) - US blockchain startup, NextTech, will travel to Moscow next month after receiving an official invitation from the Russian government to give a presentation on cryptocurrencies and the technology underpinning the digital payment system, the blockchain. NextTech, an LA startup with offices in Austin and Houston, is Chaired by Lee Caplin, President of telecommunications provider Picture Entertainment Corp, and pioneer in voice encryption technology, "We are offering a special blend of hardware and fintech services to provide a digital financial ecosystem with enhanced efficiencies using blockchain technology." According to Scott Akers, CEO of Next Tech, "The team will be joined by representatives of the executive branch of Russian government, members of the Central Bank of the Russian Federation, prominent business owners and leading Russian scientists to explore possibilities of Blockchain Technology," outlined by an official letter received by the company earlier this week. Andrey Yalanuzyan, CEO of NextTech Russia and counterpart to Akers' US operations, says, "NextTech, is one of the most advanced and up-to-date startups in Blockchain industry. There is tremendous opportunity to offer a wide spectrum of necessary technical solutions for Russian IT market and many other fields of blockchain development. Russia has a great need to obtain, expand and use the blockchain platform in numerous economic, legal and social fields of modern life. We believe that appropriate implementation of Blockchain in Russia is going to be an evolutionary leap forward." "Governments are beginning to see how the blockchain could be used as a tool for streamlining the inner-workings of state institutions," says Akers. "We are focused on providing a comprehensive overview of the technology and its impact from a legal, economic, social, and technical standpoint." The use of Bitcoin and other crypto-currencies is currently illegal in Russia and various other countries worldwide. Prior associations with illicit online activity -- such as drug dealing, illegal arms sales and human trafficking is increasingly being seen as a distraction from the potential of the 'digital ledger' upon which it is based. Story continues "Our aim at NextTech is to address the misinformation surrounding cryptocurrencies more generally," stresses Akers. "We want to clearly illustrate the difference between 'what it is' and 'what people do with it' -- a crucial distinction." Commonly referred to as the 'blockchain,' the technology underpinning bitcoin is quickly moving mainstream as it is recognized by state officials, central banks -- including the Bank of England -- and private enterprises like Microsoft, as potentially the most secure data filing facility ever created. Downplaying focus on their commercial product offering, NextTech's blocknext.com provides us with a small glimpse into what they have in store for Russia. || Here's where big banks stand on blockchain: In case you haven’t heard,blockchain is all the rage lately on Wall Street, whereas bitcoin, the digital currency that blockchain came along with in 2009, is suddenly very uncool.
Blockchain, by the way, is the decentralized, peer-to-peer, open-source, distributed ledger technology that underlies bitcoin. (Check out ourvideo explainer on blockchain.) The bitcoin blockchain is just one use case of the technology; lately the idea of utilizing the same technology, apart from cryptocurrency, has become popular. As Bloomberg’s Matt Levine wrote earlier this month, “If you are any sort of self-respecting financial or finance-adjacent professional these days,you had better be inserting the word ‘blockchain’ into random sentencesto prove that you're up to speed.”
Indeed, banks and financial services have certainly hopped aboard the blockchain train. But behind public press releases about initiatives and blockchain experimentation, executives at these companies differ greatly in their thinking on the technology and their faith in it.
Father-and-son team Don and Alex Tapscott, both business strategy consultants, have a new book out today called “Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World.”A more apt title might hedge that the technology “could” change the world, but the book makes a convincing case for why blockchains might revolutionize the financial sector. (And and many other sectors, but for now, the excitement is starting with finance.) For their research, the Tapscotts spoke to numerous people in banking.
Alex Tapscott says people in banking fall into four categories right now in their attitudes about blockchain. It’s worth including here his full explanation, as told to Yahoo Finance:
“There are still a few who are generally afraid of this or don’t fully buy into it, but are trying to learn more. That’s increasingly a minority. More people these days fall into a second category, which is they see this as an opportunity to reduce cost in their existing business. That’s interesting. But for us, the bigger opportunity, and I think increasingly more financial services firms fit into this, is to say, How can we use this new technology platform to fundamentally reinvent our business? If billions of people in the world don’t have access to financial services, maybe we can be the ones to harness this new technology to offer them the same services we offer our existing clients. Now, there’s a fourth category of course: if you’re a bank that thinks this is all nonsense, I would highly recommend you at least upgrade to fearful. Because this change is happening.”
Well, blockchain believers may say the change is happening. And there are signs that is the case. To cite just two examples:More than 45 banks have signed on to blockchain consortium R3 CEV, including Goldman Sachs (GS), JPMorgan (JPM), and Bank of America (BAC), to test out blockchain tech for their transaction-settling processes; andblockchain startup Chain recently announced it had completed a blockchain-for-banking productand revealed Citi (C), Visa (V), and other heavy-hitters as launch partners.
But bitcoin believers (and yes, there are still many) say thatthe concept of closed, permissioned blockchains, without digital currency, doesn’t make much sense. At most, bitcoin executives say, it can improve back-office I.T. functions of banks, which is a rather unsexy proposition for a technology that can do much more. Some are hopeful that blockchains can eventually deliver a decentralized form of all kinds of technology platforms, including, say, Uber. “It’s the disruptors themselves that stand to be disrupted,” Alex Tapscott says, describing the possibility of a "super Uber" that cuts out the middleman operator.
As Don Tapscott explains, banksshouldbe thinking bigger than they are. They ought to be aiming to revamp their systems entirely, rather than simply to improve efficiencies and reduce costs. “The blockchain is the biggest innovation in computer science in a generation, we think," he says. "And what it represents is the Internet of value. We’ve had the Internet of information for several decades. But when it comes to exchanging value—not just money, but music or loyalty points or stocks or bonds—you can’t do that in a peer-to-peer way without a powerful intermediary. This has resulted in a situation where powerful intermediaries are capturing all the value of the digital age."
That phrase, the "Internet of value," or something very close to it, has been used before to describe bitcoin and the blockchain. In fact,it’s the subject of an ongoing dispute between a prominent “cloud money” startup and an equally prominent figurehead within the bitcoin community. The latter, Andreas Antonopoulos, argues that “Internet of Money” is the best phrase to describe the promise of bitcoin, and that no one company ought to be using it as a corporate slogan.
Balaji Srinivasan, a partner at mega-influential VC firm Andreessen Horowitz and the CEO of bitcoin software company 21.co, has a similar idea for bitcoin, and is skeptical of the “blockchain minus bitcoin” fad. His vision:To create a “machine economy” in which computers can pay each other seamlesslyin bitcoin.
As the Tapscotts do make clear in their book, we are still in the early days of this space. It is so early, in fact, that much of the mainstream media only covers this industry when there are salacious new reports ofwho might be the real Satoshi Nakamoto, the creator of bitcoin. They are missing what is really going on here, but they still have ample time. In the simultaneous races to innovate in both bitcoin and blockchain, there is not yet any clear victor.
The Blockchain Revolution is available now. Watch the above video for a more in-depth discussion about the book with its authors.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
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[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $581.08 (7.21 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $443.10 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #TrinityCoin #TTY $ 0.000004 (0.04 %) 0.00000001 BTC (-0.00 %) || $424.60 at 11:00 UTC [24h Range: $418.00 - $425.47 Volume: 5363 BTC] || LIVE: Profit = $654.44 (8.12 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $446.86 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 KOBO = 0.00001000 BTC
= 0.0045 USD
= 0.8957 NGN
= 0.0714 ZAR
= 0.4549 KES
#Kobocoin 2016-05-18 23:00 pic.twitter.com/XyVXKNVch7 || LIVE: Profit = $765.80 (9.56 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $453.10 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $174.08 #bitcoin #btc || 1 KOBO = 0.00001295 BTC
= 0.0058 USD
= 1.1550 NGN
= 0.0835 ZAR
= 0.5872 KES
#Kobocoin 2016-04-23 23:00 pic.twitter.com/yEl8uMDBli || #TrinityCoin #TTY $ 0.000004 (-0.41 %) 0.00000001 BTC (-0.00 %) || (♔)ChopBitcoin has won a round in a playground (Faucet) and won 0.00005000 BTC, join @ChopCoin and earn BTC (00:50UTC)
|
Trend: up || Prices: 530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-08-30]
BTC Price: 4565.30, BTC RSI: 73.28
Gold Price: 1308.10, Gold RSI: 68.14
Oil Price: 45.96, Oil RSI: 40.77
[Random Sample of News (last 60 days)]
Hacking Coinbase: The Great Bitcoin Bank Robbery: Sean Everettwasn't sure how his bullish bet on cryptocurrency would turn out. But he definitely didn't expect it to be over so soon.
In March, he sold all his stocks, including and , and used a chunk of the proceeds to buyBitcoinand Ethereum on a site calledCoinbase. The decision made Everett, the CEO of artificial intelligence startup Prome, almost instantly richer, as the blockchain-based currencies' value rocketed up exponentially over the next several weeks. But then, while he was out walking the dog after 10 p.m. on Wednesday, May 17, Everett got the call. It was T-Mobile, ringing him to confirm that it was switching his phone number to a different device.
It was a suspicious move that Everett had most certainly not requested. But even as he pleaded with the agent to block the switch, it was too late. Less than five minutes later, Everett's cell service abruptly shut off, and as he rushed to his computer, he saw himselfbeing robbedin real time. A raft of email notifications confirmed that someone had taken control of his main Gmail account, then broken into his Coinbase "wallet." They'd gotten in with the help of his switched-over phone number: Everett's account required him to log in with a two-factor authentication code sent by text message, as a second safeguard--and now the text had gone straight to the thief.
It took only two minutes for the attacker to clean Everett out of what was then a few thousand dollars' worth of digital coins. From Everett's perspective, the even more painful heist was what came next: Ethereum's price quadrupled over the next three weeks. It had reached its all-time high of $400 just hours before I met Everett in a New York coffee shop on a humid June afternoon. Bitcoin, meanwhile, had broken $3,000 for the first time a day earlier, and Everett was pining for his missing digital coins. "I'm not only still out my money, I also didn't get the rise in price," he lamented.
Then again, the biggest surprise for Everett--and, it would turn out, for many other Bitcoin enthusiasts--was that the theft happened on Coinbase at all. San Francisco's Coinbase, the world's largest exchange for trading cryptocurrency, is one of very few such companies whose own coffers have never been hacked, a distinction that carries extra weight in the realm of blockchain, where several costly breaches have made global headlines. Almost any early investor you talk to lost money in Mt. Gox, an exchange that collapsed in 2014 after hackers pillaged nearly $500 million in Bitcoin. Last summer, thieves grabbed $72 million from Hong Kong cryptoexchange Bitfinex in one fell swoop.
But hackers have never breached Coinbase's own virtual fortress, and that impenetrability has earned it a reputation as the safest place to buy Bitcoin, helping it attract more than 9 million customers who store at least $3 billion in crypto-currency there, and who have traded $25 billion to date on its retail brokerage as well as its institutional exchange, GDAX. The five-year-old Coinbase just raised $100 million in new funding, valuing the company at $1.6 billion--making it the blockchain industry's first "unicorn." "If you look at what theyare world-class at, it's security, trust, safety ... allthese things that, frankly, banks are good at," Fred Wilson, the venture capitalist and one of Coinbase's earliest and largest backers, said at a conference in March. "They're like JPMorgan or for blockchain."
But Coinbase's individual customers do get burglarized--with surprising and unsettling frequency. Even Wilson himself was in for a rude awakening: While vacationing in Europe in early June, the VC woke up to the same telltale emails that Everett saw, signaling that an intruder was trying to get inside his Coinbase account. Wilson managed to lock it down before anything was stolen, but in a rare public chastising of a company in his own portfolio, he wrote in a blog post: "I am still a bit shaken up from the experience and a fair bit more paranoid from it."
Since then,Fortunehas spoken with more than a dozen victims, including tech CEOs and well-known blockchain proponents, whose Coinbase accounts have been targeted and hacked in almost exactly the same fashion; still more have been attacked on other exchanges. The day after Everett's robbery, Los Angeles entrepreneur Adam Dachis's account was wiped out of what was then $10,000. On July 7, thieves emptied $18,000 from the Coinbase wallet of blockchain adviser Mike Costache, during the four hours he slept one night while traveling overseas. Since Christmas, there have been months when Coinbase users have been robbed as often as 30 times--a rate of one robbery every single day.
In each case, the same blindsiding realization arrives, bringing the inherent paradox of blockchain into focus. The quintessential strength that sets cryptocurrency apart from traditional money--that transactions are instant and irreversible--is also its fatal flaw. "One of [Bitcoin's] reasons for existence is that it's censorship-resistant," says Tom Robinson, cofounder and chief data officer of Elliptic, a London-based blockchain intelligence firm. That means no one, not even a government or central bank, can stop a digital currency transaction from happening. And therefore the fraud protections traditional bank depositors rely on are mostly unavailable. "Any kind of charge-back and reversibility would be the antithesis of what Bitcoin was created to achieve," says Robinson.
That's one reason that, when criminals want to pull a heist, they're increasingly choosing cryptocurrency over real dollars. In 2016, $28 million in losses from crimes involving virtual currency were reported to the FBI's Internet Crime Complaint Center, more than triple the 2015 total. And that figure is based heavily on voluntary reports by individual victims. It doesn't include large-scale thefts from exchanges like the Bitfinex hack, so it likely underestimates the true damages by many orders of magnitude.
Cybercrime is rising at traditional financial institutions too: For example, thefts through so-called account takeovers, a crime analogous to the Coinbase hacks, rose 61% last year to $2.3 billion, according to Javelin Strategy & Research. But hacking losses are a blip relative to the trillions of dollars kept in banks. Hackers are stealing a much larger proportion of the crypto-currency pie, whose total market value is only about $135 billion. In the past 12 months, for example, criminals have absconded with 1% of Ethereum's total market value, or $225 million, according to cybersecurity firm Chainalysis; the Bitcoin toll is estimated to be even higher.
Brick and mortar bank robbers have "two problems: stealing the money and hiding the evidence," explains Moran Cerf, a professor of business and neuroscience at Northwestern's School of Management and a former corporate hacker. "Bitcoin solves the second one for you because everyone there is anonymous." Bitcoin diehards seem resigned to the reality of irreversible transactions--and its drawbacks. "I think of that as a feature and not a bug," says Chris Burniske, a blockchain investor and author of forthcoming bookCryptoassets--even though his own accounts were looted in December for digital coins that would now be worth over $100,000.
But when victims watch their money up and leave into the digital wallet of a nameless stranger, it becomes more than just a problem for Coinbase: It's a threat to the promise of Bitcoin itself. As the value of cryptocurrency soars, more investors are grappling not just with how to profit from it, but how to hold on to it at all. "Coinbase looks like a bank, talks like a bank, and takes millions of dollars in cash like a bank, but, in practice, it functions like a dimly lit underground casino," says Cody Brown, whose account was hacked for $8,000 in the span of just 15 minutes in May. "You don't realize that the balanced fonts, smooth blue gradients, and endless copy about trust mean absolutely nothing--until you are robbed blind."
See also:Blockchain Mania!
Coinbase, for its part, won't discuss specific cases except to say that it investigates all account takeovers. But Brian Armstrong, Coinbase's 34-year-old CEO and founder, says Brown's and Wilson's experiences were "helpful" in teaching the company how to improve. Its security measures already match or exceed those at banks--from using machine learning to detect dubious activity, to mandating dual-factor authentication. Yet Armstrong recognizes that Coinbase is also a juicier target: "We need to be held to a higher standard," he tellsFortune,"because digital currency is so new and interesting and powerful that it is attractive to a lot of people out there to try to steal it."
If Bitcoin were a religion,its equivalent of "What would Jesus do?" would be "BYOB: Be your own bank," an unofficial slogan widely embraced in the industry. The original blockchain was launched in 2009, by the mysterious founder (or founders) going by the name Satoshi Nakamoto, as a utopian form of electronic cash that could change hands, as Nakamoto wrote in a legendary white paper, "without going through a financial institution."
But that ideal also attracted a subversive element, repelling many potential adopters. That's where Armstrong saw an opportunity to bring polish to an industry run by "hackers and crypto-anarchists" at the time, he says: "If this was going to go mainstream, it needed something that had a more trusted brand around it."
An early engineer at Airbnb, Armstrong quit in 2012 to create the "Gmail for digital currency." His strategy: making it easier and safer to store, and then buy and sell, cryptocurrency. While early Bitcoin wallet companies made people keep track of their own private keys--the secret 64-character passwords that alone provide access to one's cryptocurrency--Coinbase's pioneering innovation was its offer to store keys on customers' behalf. That also came with risk, as customers wouldn't need to know their actual key, but rather just a password, to get to their Bitcoins--and neither would a hacker. "That's a big responsibility to take on," the fresh-faced CEO admits. "But I also think it's necessary to help the industry scale and make digital currency accessible to the next 100 million or billion people."
Coinbase has demonstrated a uniqueability to bring the new asset class to the masses. Its base of customers, most of whom are in the U.S., has grown 50% just in the past five months, with as many as 50,000 signing up in one day; trade volume in July alone was twice as much as all last year. Coinbase, which makes money by charging transaction fees, is said to be nearing profitability, and Armstrong ranks No. 10 on this year'sFortune40 Under 40 list. But he is pretty clear about his company's limits. "The average person may at a high level think of us as a digital currency bank, but we're not a bank," he says. Coinbase doesn't lend money, as banks do. And critically: Coinbase, which is regulated as a money transmitter like PayPal or , isn't covered by the FDIC or bound by all the consumer protection laws that govern banks.
Armstrong has long taken 100% of his salary in Bitcoin; he now cashes out enough into dollars each month to cover his rent. Many of his employees do the same. They understand the security issues better than just about anyone, yet protecting customers is proving to be a gnarly challenge: Technically, because hackers are breaching accounts from the consumer end, exploiting weaknesses at companies like and Sprint, the hacks aren't directly Coinbase's fault. "Within the realm of reason, it's very difficult for us to prevent their account from being drained," says one executive.
Still, Coinbase can't afford to ignore the problem--literally. Even though it is not a bank, Coinbase still bears the cost of banking-system protocols, when traditional financial institutions yank back fraudulent payments induced by hackers. For example, when Dachis was robbed, a Coinbase customer support rep complained right back to him by email that "Coinbase has suffered a $1,657.41 USD loss due to bank reversals" of transactions subsequently reported as fraud. "Coinbase is left holding the bag," Soups Ranjan, the company's head of data science, said at a recent industry event. Problems like this--along with unauthorized credit card purchases of cryptocurrency--cost Coinbase a stunning 10% of all revenue it collects, a fraud-loss rate 20 times as high as PayPal's. "I firmly believe," Ranjan added, "we have the hardest payment fraud and user security problem in the world right now."
To combat that, Coinbase has been using analytics to predict which customers have the highest risk of fraud and charge-backs, and preemptively limiting their purchasing power or locking their accounts. But that method comes with a downside of its own in the form of frustrated customers--and a backlog of help-desk requests that has stretched into the tens of thousands. With about 180 employees, the company hasn't been able to hire fast enough to keep up with demand and is now looking to fill another 100 positions. Coinbase doesn't even have a phone number for customer support, though it plans to add one in September.
At the same time, Coinbase finds itself slamming headfirst into the expectations that come with being the closest thing cryptocurrency has to Goldman Sachs. The IRS has gone to court seeking Coinbase user records, after only 802 U.S. taxpayers reported Bitcoin profits on their tax returns in 2015. In June, Coinbase had its first "flash crash," withEthereum'sprice collapsing to 10? for a brief, panicky stretch; the company said that all trades "were executed properly" but eventually agreed, as a courtesy, to reimburse traders who had lost money owing to margin calls. And in early August, when a "hard fork" of the Bitcoin blockchain created another currency called Bitcoin Cash, Coinbase initially said it wouldn't support it. Hours later, a denial-of-service cyberattack--which some perceived as retaliation--knocked the exchange completely offline, and customers began threatening to sue. Coinbase gave in: Account holders will be able to withdraw their Bitcoin Cash by 2018. "We're in a period of hypergrowth, and it's superexciting and a little chaotic," Armstrong says.
For many blockchain enthusiasts, the Coinbase hacks have been a reminder of the danger of letting anyone else store your cryptocurrency. "If you don't own the private keys, you don't own the coin," says Jonathan Smith, the chief technology officer of Civic, a company that uses blockchain tech for identity verification. Then again, Bitcoin has a dirty little secret: For an asset that epitomizes the future, managing your coin yourself can feel like a journey into the troglodytic past.
Smart-money investors who store their own keys often resort to the most rudimentary of tactics to protect them. They're the Bitcoin equivalent of stuffing cash under the mattress: a private key printed out on a sheet of paper, cut into pieces, and distributed among family members who don't know how to put it back together; an encrypted file loaded on a USB stick and buried in the backyard; a password committed only to memory. These jury-rigged methods come with their own pitfalls, and stories of self-inflicted losses are legion: The New York man who reformatted a hard drive and erased the key to $25,000 in Bitcoin. Dominic Fogarty, a hedge fund research analyst who left his phone, storing his cryptocurrency, in a taxi after a bachelor party--then schlepped all over the Adirondacks to retrieve it. ("Yes, we missed our train, but more importantly I didn't lose my Bitcoins!" he tellsFortune.)The ultimate irony is that the gold standard in security, storing private keys in what's known as "cold storage," without connection to the Internet, often means putting them in the very places blockchain advocates hoped to avoid: banks. One cryptocurrency hedge fund manager once went to check on his safe-deposit box at , which stored the key to $5 million, only to find the drawer empty. (A few weeks later, the correct box was found one slot below where it was supposed to be.) Even Coinbase itself relies on banks for some of its cold storage, where 98% of customer funds are kept. "It does seem a little old-fashioned, I suppose," Armstrong acknowledges. And yet, it may also be the future, as more mainstream investors want in on cryptocurrency but without the worries of BYOB.
For some crypto devotees, this is nothing less than heresy. Says Michael Krieger, a former Lehman Brothers analyst who abandoned Wall Street for cryptocurrency after becoming disillusioned by the financial crisis, "I wouldn't trust my crypto private keys to a safety-deposit box at a bank. That's just me." But already, the walls between finance's old guard and blockchain's renegades are beginning to crumble, and a day may come where the systems meld together almost seamlessly. "It's almost ironic and funny that some of the rules and procedures we want to get rid of are almost exactly the rules we want in place to [protect] a major client," says Hu Liang, a former State Street exec who left in August to start a cryptocurrency trading platform for institutional investors. Even as they dream of supplanting the conventions that have defined banking for centuries, blockchain disciples are realizing that you can never quite escape them.
Jonathan Levin is stillcatching his breath from a six-mile bike commute as he welcomes me into his office, on the second floor of a Manhattan coworking space, early one August morning. Wearing a gray cotton T-shirt that reads "Bitcoin, est. 2009," the 27-year-old British expat exclaims cheekily, "So this is what fighting cybercrime looks like!"
Levin is the cofounder of Chainalysis, a startup that tracks virtual currency movement and investigates illicit use. Chainalysis's software assisted law enforcement with the takedowns and criminal indictments of both "dark net" marketplace AlphaBay and notorious digital currency exchange BTC-e during the span of a week in July, according to people familiar with the investigations. Previously, the company was able to locate where the stolen money from Mt. Gox and Bitfinex ended up: Bitcoin keeps an immutable record of all transactions--a literal money trail--so anyone can see the addresses of the digital wallets where funds are sent. Chainalysis's artificial intelligence "clustering" techniques mapped the funds to particular exchanges. But progress seems to have hit a dead end when it comes to determining who controls those wallets. "How many people have been caught for stealing money from major Bitcoin exchanges?" Levin asks rhetorically. "The answer is zero."
That's not entirely true, says Kathryn Haun, a former federal prosecutor who led the crackdown on virtual-currency crime and joined Coinbase's board in May. While no one yet has gone to jail for hacking into an exchange or electronically pilfering cryptocurrency, she says, the AlphaBay and BTC-e probes are the first of a wave of cases that have yet to be completed or unsealed. Because wallet addresses are pseudon-ymous, it can take years for investigators to link them to a person--gathering data gleaned from exchanges like Coinbase and more obscure corners of the Internet. "I liken it to more traditional crimes, like bank robberies," Haun says. "If he's wearing a disguise and has a wig and gloves, it makes it that much harder to capture the criminal. But that doesn't mean it's impossible."
Individual thefts may be too small on their own to merit a federal case, but as more victims report crimes to the FBI and other government agencies, there's more cause for hope. Chainalysis, for its part, opened a special investigations unit in July to take on personal cases after fielding pleas for help from hack victims. And experts believe the criminals who commit the robberies belong to sophisticated organizations with the technology and manpower to trawl social networks for mentions of cryptocurrency accounts--the kinds of resources that let them, say, call Ver-izon 28 times in 24 hours until they succeed in porting a phone number, as they did in the case of Adam Pokornicky, managing partner at hedge fund Cryptochain Capital. Efforts that ambitious inevitably leave traces, and from such clues a pattern can emerge. "Phone porting cases and schemes like it have captured the attention of law enforcement, so I would say, stay tuned," Haun says.
That said, even if the blockchain world's combined forces succeed in capturing cybercriminals, there's no guarantee that victims will get their money back. Some of the legal precedent for charging cryptocurrency hackers is still untested, and there are questions as to whether intangible assets can even be seized. For one, accessing the booty would require knowing the private key: "They could get the criminal, but the government can't force them to say where the gold is," says Jeffrey Berns, whose California law firm specializes in digital currency. In a system that prizes decentralization above all else, the creature comforts of banking may never exist. Adds Berns, "There is no consumer protection, and I'm not sure it can be built in."
Deep inside a mountainin Switzerland, down a 200-meter cave, a World War II military bunker now stores what is believed to be the largest repository of Bitcoins on the planet. In the wake of the Mt. Gox hack in 2014, Wences Casares, an Argentinean tech entrepreneur, thought there was one solution to storing digital coins: Go underground.
His company Xapo now operates heavily guarded vaults, on five continents, some as far as a kilometer down into the earth. Each contains so-called air-gapped servers on which the encrypted private keys are stored. To ensure hackers cannot rob its clients, who range from $5 account holders in emerging markets to the world's largest hedge funds and institutions, agents of Palo Alto-based Xapo personally witness the manufacturing of the servers before they even come off the assembly line and escort them to the hermetic vaults, guaranteeing they never touch the Internet. "It's somewhat ridiculous," says Casares, who also sits on the board of PayPal, "the extent to which we have to go to make sure that the keys are protected."
But even that safeguard has its limits. When customers move funds into a "hot wallet" on Xapo for transaction purposes (itself a 48-hour process), the money could be vulnerable to the same hacks that Coinbase accounts are. In other words, your cryptowealth is as safe as can be--until you want to actually use it.
Coinbase account holders lose up to $5 million annually to theft by hacking, according to a person close to the company. Here's how the hacks happen, and why the culprits are so hard to catch.
The Stakeout
A scammer scouts a target by searching for people who work in the blockchain industry--or by combing social media for mentions of Bitcoin and Coinbase. The attacker finds the target's email address and phone number through online postings or previousdata leaks.
The Switcheroo
The scammer contacts the victim's mobile provider and "ports" the phone number to a device under the scammer's control.
The Disguise
Because Gmail -accounts often link phone numbers as a backup access method, the scammer can now log in and reset the target's email password, then do the same at Coinbase.
"I'm In!"
Coinbase requires two-factor authentication ("2FA") in addition to a password. That 2FA now gets texted to the thief, who logs in.
The Getaway
The scammer moves the money into digital "wallets" under his control. Law enforcement can easily track the movements of the stolen currency recorded on the blockchain, but they can't block transactions, and figuring out who controls the wallets is difficult.
The Laundering
To try to cover his trail, the scammer can move the currency to foreign "cryptoexchanges," or convert it to other kinds of digital currency that are harder to track. Eventually, he can convert it to cash or other assets.
Building a Better Vault
For better security:
• Put a "do not port" order on your phone number.
• Don't use text-message 2FA; instead, use an app like Authenticator.
• Use a unique password, one you don't use for other accounts or social media.
This is part ofFortune'snew initiative,The Ledger,a trusted news source at the intersection of tech and finance. For more onThe Ledger,click here.
A version of this article appears in the Sept. 1, 2017 issue of Fortune with the headline “The 21st-Century Bank Robbery.”
See original article on Fortune.com
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Bitcoin mining is the validation of transactions that take place on each Bitcoin block. The decentralized nature of Bitcoin means that transactions are broadcasted to the peer-to-peer network and once broadcasted, needs to be verified, confirming that the transaction is valid and then having the transaction recorded on the public transaction database, which is known as the Bitcoinblockchain.
Miners basically are the people involved in the processing and verifying transactions before then recording the transactions on the Bitcoin blockchain.
Miners will then receive transaction fees in the form of newly created Bitcoins.
So, what’s involved in the actual mining process?
Computers are used to include new transactions onto the Bitcoin exchange and while computers will find it relatively easy to complete the verification process, the process becomes more difficult as computer capability becomes more sophisticated with faster processing speeds.
Attempting to get Bitcoin users from around the world to agree on a single version of the transaction is the challenge and it comes down to what is referred to as “proof of work.”
Bitcoin protocolrequires those looking to include additional blocks of transactions on the Bitcoin blockchain to provide proof that the user expended a scarce resource, in the case of mining being the processing power of the computers used for the verification process.
Miners compete with everyone on the peer-to-peer network to earn Bitcoins. The faster the processing power, the more attempts are made by the hardware to attempt to complete the verification, and therefore earning the miner the Bitcoins that are highly sought after along with transaction fees.
The Bitcoin network is self-evolving, to ensure that the time taken for a miner to win a block is steady at approximately 10 minutes.
The speed of processing power in Bitcoin mining is referred to as the hash rate and the processing power is referred to as thehash powerof the hardware.
To get slightly more technical and introduce some of the more common terms used in the Cryptoworld, the mining process is where Bitcoin mining hardware runs a cryptographic hashing function on a block header.
For each new hash attempted, the mining software will use different numbers as the random element, the number referred to as thenonce.
Once a proof of work is produced, through the random calculation of nonces until the correct nonce is discovered, a new block is essentially discovered, which is then verified and agreed upon by the peer-to-peer network.
At this stage the miner is rewarded with a certain number of Bitcoins, currently set at 12.5 coins, though will halve every 210,000 blocks. In addition to the Bitcoins received, the minor will also be awarded the transaction fees paid by users within the successfully mined block, which is of far greater incentive for miners as the number of Bitcoins per block continues to decline.
The end to end process can perhaps be best described by the following chart that incorporates the various steps involved from mining to ultimately receiving well-earned Bitcoins and transaction fees:
1. Verify if transactions are valid.
2. Transactions are bundled into a block
3. The header of the most recent block is selected and entered into the new block as a hash.
4. Proof of work is completed.
5. A new block is added to the blockchain and added to the peer-to-peer network.
1. A new block is proposed.
2. Header of the most recent block and nonce are combined and a hash is created.
3. A Hash number is generated.
4. If the Hash is less than the Target Value the PoW has been solved.
5. The miner receives the reward in Bitcoins and transaction fees.
6. If the Hash is not less than the Target Value, the calculation is repeated and that takes the process to mining difficulty.
1. More miners join the peer-to-peer network.
2. The rate of block creation increases.
3. Average mining times reduce.
4. Mining difficulty increases.
5. The rate of block creation declines.
6. Average mining time returns to the ideal average mining time of 10 minutes.
7. The cycle continues to repeat at an average 2-week cycle.
Bitcoin cloud mining provides a medium to receive newly mined Bitcoins, without the need to own Bitcoin mining hardware or even have any mining ‘knowhow’, allowing the mining world to not only attract the technically minded but a far wider audience, who lack the technical knowledge needed to get into Bitcoin mining.
The Bitcoin novice has certainly embraced the availability of Bitcoin cloud mining, so what’s the difference between Bitcoin mining and cloud mining?
It boils down to the location of the Bitcoin mining hardware. For the Bitcoin miner, the user will buy and set up and maintain the Bitcoin mining rigs, which is not something for the technophobes as sizeable electricity costs also a consideration, mining rigs requiring plenty of ventilation and cooling, not to mention 24-7 processing.
Cloud mining is supported by mining companiessetting up the mining rigs at their own facility, with a cloud miner only needing to register and purchase shares or a mining contract. The user doesn’t have to do anything else, with the mining company doing all the work and giving the cloud miner returns on a regular basis. The user essentially buying a proportion of the Bitcoin miners hash power.
One of the major concerns over cloud mining is fraud however, there having been plenty of reports of fraudulent activity, not to mention lower profits and even mining companies having the ability to halt operations if Bitcoin’s price fall below certain levels, so some due diligence on a mining company is recommended, with some basic steps to reduce the risk of being defrauded including:
• No mining address and / or no user selectable pool.
• No ASIC vendor endorsement. If there is no advertisements from theASICvendor, the mining company may not even own the hardware.
• No photos of the hardware or datacenter of the mining company.
• No limit imposed on sales or does not display how much hash rate sold against used in mining.
• Referral programs and social networking. A mining company willing to pay high referral fees should be avoided as these may well be Ponzi schemes.
• Anonymous operators should certainly be avoided…
• No ability to sell your position or get the money out upon sale.
Mining hardware has changed since the early days of Bitcoin, when Bitcoin was mined withCPUs. However, as miners have continued to use their technical abilities to develop hardware capable of earning at much greater number of Bitcoins, leaving CPU and laptop users behind, using a laptop is now unlikely to yield a single Bitcoin even if mining for years.
In place of CPUs cameGraphic Processing Units (GPUs), as miners found that using high end graphics cards were far more effective in mining for Bitcoins. The use of GPUs increased mining power by as much as 100x, with significantly less power usage, saving on sizeable electricity bills.
Next cameFPGAs, Field Programmable Gate Aray, the improvement here being in the power usage rather than actual mining speed, with mining speeds slower than GPUs, while power consumption fell by as much as 5x.
Power savings led to the evolution of mining farms and the Bitcoin mining industry as it is known today, where Bitcoin mining power is controlled by a mining few more commonly known as the Bitcoin Cartel.
Since FPGAs, the mining community shifted to Application Specific Integrated Circuits (ASICs), where an ASIC is a chip designed for the sole purpose of mining, with no other functional capabilities.
While an ASIC chip has only a single function, it offers 100x more hashing power, while also using significantly less power than had been the case with CPUs, GPUs and FPGAs.
Evolution of software has slowed, with nothing in the marketplace at present or in development that is expected to replace ASICs, withASIC chips likely to see minor tweaks at best to try and squeeze out greater efficiencies, though it will only be a matter of time before the Bitcoin world comes up with something newer and faster as miners catchup on hashing power.
Proof of work is also referred to as PoW. All of the blocks in a Bitcoin blockchain have a series of data referred to as nonces, these are meaningless data strings attached to each block of a Bitcoin blockchain.
Mining rigs / computers need to search for the right nonce and, with no simple way in which to find the correct nonce, random computation is used until the correct data string is calculated by the mining rig.
The proof of work is therefore difficult to produce, while considered simple to verify, the production of a proof of work being a random process, requiring mining rigs to calculate as many computations per second as possible so as to increase the probability of producing the proof of work.
It is for this reason thathash rates / hash powerare key considerations in the ability of a mining pool being able to deliver reasonable returns on investment.
Bitcoin mining difficulty is the degree of difficulty in finding a given hash below the target during the proof of work.
Bitcoin’s target value is recalculated every 2,016 blocks, with mining difficulty inversely proportional to target value. As mining difficulty increases, target value declines and vice-versa.
In basic terms, as more miners join the Bitcoin network, the rate of block creation increases, leading to faster mining times. As mining times speed up, mining difficulty is increased, bringing the block creation rate back down to the desired 10 minutes as mentioned previously.
Once the mining difficulty is increased, the average mining time returns to normal and the cycle repeats itself about every 2-weeks.
To begin mining and become a node within the peer-to-peer network, and begin creating Bitcoins, all that’s needed is a computer with internet access.
Wallets can be downloaded for freeas can miner programs and once downloaded its ready to go.
The reality is that your desktop computer or laptop will just not cut it in the mining world, so the options are to either make a sizeable investment and create a mining rig, or joining amining poolor even subscribe to a cloud mining service, the latter requiring some degree of due diligence as is the case with any type of investment.
In mining pools, the company running the mining pool charges a fee, whilst mining pools are capable of solving several blocks each day, giving miners who are part of a mining pool instant earnings.
As a minimum, you’ll need a GPU and somewhere cool for the mining hardware with fans set up to keep the hardware cool, with a stable internet connection also a must.
Two GPU manufacturers areAti RadeonandNvidia, whilst Radeon cards are considered much better for mining than Nvidia cards. While you can try to mine with GPUs and gaming machines, income is particularly low and miners may in fact lose money rather than make it, which leaves the more expensive alternative of dedicated ASICs hardware.
The best ASICs chips on the market that might be essential for Bitcoin mining in consideration of price per hash and electrical efficiency areAntrouter R1,Antminer S9andBPMC Red Fury USB, Antminer the most expensive with a price tag of $2,264.51.
Miners make Bitcoin by finding proof of work and creating blocks, with the current number of Bitcoins the miner receives per block creation standing at 12.5 coins and then the transaction fees for each block, which is approximately 1.5 Bitcoin equivalent in value for each block.
The ASIC mining hardware is estimated to pay for itself in about 15-days, assuming a retail price of just under $2,500 and after than it ultimately boils down to the rate of increase in miners, which then requires greater computing power to be able to maintain the same level of coin creation and receipt of transaction fees.
In an nutshell, if you’re going to try to use a CPU or laptop, mining pools are going to be a possible option and even then you’re not going to be making much if any, as your contribution to the mining pool’s mining power will be limited at best, which leaves you with cloud mining as the only real option unless you’re willing to invest in the hardware and accept the electricity costs that come from all year round mining and that’s before the necessary upgrades and new equipment that is to be expected with overuse.
Can you get rich off the mining process? More likely from the appreciation in Bitcoin value than the mining itself, with a few mining pools accounting for the lion’s share of Bitcoin’s mining power making it difficult for new miners to enter the fray.
While users have looked at the cloud mining option, the real experience is in owning your own mining rig and learning the technology and processes behind Bitcoin mining, something that you wouldn’t experience through cloud mining.
Thisarticlewas originally posted on FX Empire
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• The Dollar Bears Are Back After Taking a Break on Friday || Wall Street traders have had a tough year — and it's eating into their bonuses: (REUTERS/Brendan McDermid)
Less-than-stellar Wall Street trading results will likely have an impact on this year’s bonuses.
While investment bankers will probably see big jumps in their annual bonus, securities traders likely won’t get the same increase — and could even see a 5% drop, according to a new report from HR consulting firm Johnson Associates.
The data wasfirst reportedby Bloomberg News’ Sarah Ponczek:
Fees from advising on mergers and selling stocks and bonds for companies rose at four of the five biggest firms last quarter, offsetting lower trading results. Bankers who underwrite equity and debt will probably see annual bonuses surge 10 percent to 20 percent or more, while those in retail and commercial banking can expect raises of 5 percent to 10 percent.
As markets climbed steadily higher this year, the VIX volatility indexplunged to historic lows. Trading desks, once the powerhouse of banks’ profitability, took big hits because of the drop.
Goldman Sachs,JPMorgan, andBank of Americaall reported declines in fixed-income trading in the second quarter.Morgan Stanleywas the only bank to post trading gains, despite what the CEO called a "subdued environment."
Hedge fund employees can also expect their bonuses to increase up to 5% this year. That's despite some name brand funds not doing well. According to investor letters obtained by Business Insider, many major funds are struggling to find positive returns.
Maverick Capital, a $10.5 billion hedge fund manager,made no moneyon its flagship fund in the first half of 2017.The S&P 500, which the fund compares itself to, rose 9.3% over the same period.
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• One of the stock market's biggest opportunities is being ignored
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• 'It comes down to execution': Here's what Wall Street is saying about Tesla || Weekly outlook: July 24 - 28: Investing.com - The U.S. dollar fell to its lowest level in more than a year against a basket of the other major currencies on Friday, pressured lower by the stronger euro and persistent concerns over U.S. political uncertainty.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ended down 0.32% at 93.78, the lowest close since June 22, 2016.
The index ended the week down 1.32%, marking its second straight weekly decline.
The euro rose to its highest level in nearly two years against the dollar, with EUR/USD hitting highs of 1.1683, the most since September 2015. It was last at 1.1663, having gained 1.65% for the week.
The euro was propelled higher by expectations that the European Central Bank is moving closer to tapering its bond-buying program.
On Thursday, ECB President Mario Draghi saidthe bank will discuss when to trim its asset purchase programin the fall.
The dollar was also hit by fresh political turmoil in Washington.
On Thursday, Bloomberg reported thatthe investigation into alleged links between President Donald Trump’s campaign and Russiain last year’s election is extending into his business.
Earlier in the week, Republican lawmakers pulled the plug on the latest version of a contentious bill to replace Obamacare, delivering a major policy blow to the Trump administration.
Thefailure to deliver on healthcare reformindicated that Trump’s other legislative efforts, such as overhauling the tax code and implementing fiscal stimulus could face difficulties.
Hopes for tax reforms and fiscal stimulus under the Trump administration helped drive the dollar to a 14-year high after the November election. The dollar has now given up all of its post-election gains.
Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness. The Fed is to hold itsnext meetingon Wednesday and is widely expected to hold policy steady.
Against the yen, the dollar fell to a more than one-month low of 111.02. USD/JPY was last at 111.12.
Sterling was a touch higher against the dollar, with GBP/USD rising 0.15% to 1.2993 late Friday.
In the week ahead, investors will be awaiting the outcome of Wednesday’s Fed meeting, ahead of data on Friday which will give the first look at U.S. second quarter growth.
Survey data from the euro zone on Monday will help gauge the strength of the ongoing recovery in the euro area. The UK is to release data on second quarter growth on Wednesday.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, July 24
The euro zone is to publish survey data on private sector business activity.
Canada is to report on wholesale sales.
The U.S. is to release figures on existing home sales.
Tuesday, July 25
The Ifo Institute is to report on German business climate.
The U.S. is to release data on consumer confidence.
Wednesday, July 26
Australia is to release data on consumer price inflation.
The UK is to release preliminary data on second quarter economic growth.
The U.S. is to report on new home sales.
The Fed is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision.
Thursday, July 27
The U.S. is to release data on jobless claims and durable goods orders.
Friday, July 28
In the euro zone, Germany is to release preliminary inflation data.
Canada is to release monthly data on economic growth.
The U.S. is to round up the week with advance data on second quarter growth.
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Dollar falls to 13-month low amid renewed US political uncertainty || Raytheon among stocks that may benefit from bigger missile defense spending because of North Korea: Jefferies is optimistic toward companies such as Raytheon (NYSE: RTN) , Orbital ATK (: OA'WI) , and Aerojet Rocketdyne (NYSE: AJRD) as tensions with North Korea escalate, leading to greater missile defense spending. "The aggressive nature of the North Korean acts may cause Japan, South Korea, the U.S. Congress and the Administration to fund missile defense at an above average rate," wrote Jefferies equity analyst Howard Rubel in Wednesday's note. The U.S. confirmed that a missile launched by the North Korean government on Tuesday was an intercontinental ballistic missile, or ICBM, which has the potential to reach the United States. After numerous attempts to goad the Chinese government into applying more economic pressure against Pyongyang, President Donald Trump is running out of diplomatic options. While the U.S. continues to build its immature Ground Based Missile Defense system, radar and rocket manufacturers such as Raytheon are poised for federal funding, with geospatial imagery companies like DigitalGlobe also positioned for bumps, according to the Jefferies report. "The Japanese have considered another program which would help defend their territory. If we go forward with some form of defense of Hawaii, that's a multi-billion dollar program," added Rubel on CNBC's "Power Lunch" earlier today. "The answer is: it's undecided how large the opportunity is for these contractors." "Language in the House Armed Services Report for the FY18 DoD budget calls out the need for a plan to enhance the sharing of commercial imagery and national technical means with South Korea and Japan," added Rubel. The increased expenditure on weapons and defense, as well as the potential for further international partnership would bode well for American arms manufacturers. On Wednesday afternoon, Raytheon traded approximately 1.60 percent higher while Orbital ATK was up 2.14 percent. Story continues Earlier today, former U.S. ambassador to South Korea Christopher Hill told CNBC that he believes Americans will pay close attention to the U.S. response following this latest North Korean missile launch. "In the short run, what they're very concerned about is the possibility that North Korea could have an ICBM that could hit the U.S. with a nuclear weapon," Hill told CNBC's "Squawk Box." "I think the American people will indeed ask the question you're asking, which is what is [Trump] going to do about it?" Thus far, China has regarded the uptick in U.S. missile defense activity with disdain. Plans for new modern defense weapons sales to Taiwan angered China last week as the U.S. State Department announced the $1.42 billion agreement. Prior to the arms sale, the U.S. shocked both South Korea and China by secretly deploying four more THAAD rocket launchers in South Korea. More From CNBC Bitcoin could nearly double and reach $5,000 soon, says Standpoint Research TipRanks: Here are the favorite tech stocks of top analysts for the second half Some recent tech IPOs are cratering || Kiwi down in early Asia, Aussie and Indian rupee eyed: Investing.com - The kiwi eased in Asia after mixed jobs data with building figures in Australia and an interest rate review in India ahead.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.27% to 92.92.
In New Zealand, theemployment changeon the second quarter fell 0.2%, missing a 0.7% gain seen for anunemployment ratesteady at 4.8% as expected.
NZD/USD traded at 0.7428, down 0.54% after the data.
Later, Australia reportsbuilding approvalsfor June with a 1.5% gain seen month-on-month.
The Reserve Bank of India will also unveil its latestinterest rate decisionwith a cut to 6% seen from 6.25% for the benchmark and thereverse repo ratedown to 5.80% from 6.00%.
AUD/USD eased 0.18% to 0.7955, while USD/JPY changed hands at 110.48, up 0.11%.
Overnight, the dollar traded higher against a basket of global currencies on Tuesday, despite economic data showing the pace of inflation remained lacklustre while manufacturing activity undershot expectations, capping gains in the greenback.
The personal consumption expenditures (PCE) price index, rose 0.1% in June. In the 12 months through June, the so-called core PCE price index increased 1.5% after advancing by the same margin in May.
Fresh on the heels of the inflation data, was a report indicating a slowdown in consumer spending as personal income failed to increase for the first time in seven months, pointing to a moderate pace of consumption growth in the third quarter.
Meanwhile, the Institute for Supply Management’s manufacturing gauge slowed to 56.3 in July, from a reading of 57.8 the previous month. That compared with economists’ expectations for the manufacturing index to fall to 56.4.
Readings above 50 are meant to signal that output in the industry is rising.
The uptick in greenback pegged back recent advances in both the euro and sterling.
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Dollar hovers above 14-month lows on mostly downbeat economic data || 5 Smart Beta ETFs With Brilliant Returns: The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market. They provide low-cost, convenient and transparent way of replicating market returns. But many investors have realized that capitalization weighted indexes are not the most efficient way of investing, at times.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest through active managers. However, most investors have been disappointed with the performance of active managed funds, as returns generated by them often do not justify the higher costs associated with them.
Smart beta strategies seek to combine the best of active and passive investing i.e. outperforming the market while keeping costs low. While not so popular with retail investors yet, they have already become very popular with institutional investors. (Read: Ethereum ETF? The Bitcoin Crushing Digital Currency Explained)
What is Smart Beta?
In simple words, ‘beta’ can be defined as the correlation of a security’s return with the market return. Smart beta indexes attempt to select stocks that may have better risk-return performance than the market.
Many ETF industry experts do not like the name since the word ‘smart’ may suggest that the traditional strategies are ‘not so intelligent’ or rather ‘dumb’. They prefer to call these ‘alternative’ or ‘advanced’ beta strategies instead of ‘smart’. Investors should probably understand that these indexing methods are just different and may be better. There is nothing really smart or intelligent about them. (Read: Buy Top Ranked Apple ETFs on Solid Earnings)
This space offers a number of choices to investors, starting from simplest equal-weighting to fundamental weighting which assigns weights to stocks based on their fundamental characteristics such as revenue/earnings, cash flow, dividends etc. Others seek to exploit “anomalies” present in the market.
Best Smart Beta ETFs
Not all these strategies have been able to deliver superior results. Strategies like low volatility, high beta and momentum outperform only in certain market conditions and investors are not very good at market timing.
Further, many smart beta strategies are based on market anomalies that disappear if too many investors chase them. (Read: 6 ETFs for a Historically Low Returns)
And, while smart beta ETFs follow rules based methodologies, not all are very transparent and simple to understand. Most of them charge high fees for their complicated strategies, which may or may not produce commensurate results.
At the same time, there are some smart beta ETFs that follow easy to understand strategies and add value to investor portfolios. These have the potential to outperform the market over the long term. We have highlighted five such excellent smart beta ETFs.
iShares Core Dividend Growth ETF (DGRO).
The product holds companies that have a history of consistently growing their dividends and are likely to continue growing dividends. Holdings are weighted by dividend dollars.
I believe that companies with uninterrupted dividend growth record usually have solid balance sheets and strong cash flows. So, these strategies outperform the market over time and also provide stability and downside protection during market downturns, in addition to growing income streams.
The ETF doesn’t have a lot of exposure to rate sensitive sectors and would be a good choice for investors worried about the rising rate environment.
It has a low expense ratio of 0.08%. The ETF had beaten the S&P 500 index since inception in June 2014. It is up 38.7% while SPY has risen 35.6% over the past three years.
Vanguard Dividend Appreciation ETF (VIG)
VIG is the most popular ETF in the dividend space with AUM exceeding $24.8 billion. It is my favorite dividend ETF. Like DGRO, this product also focuses on dividend growth. It holds high quality stocks that have a record of increasing dividends over the past decade.
The product currently holds 185 securities in its basket. The ETF charges just 8 bps in annual fees while its dividend yield is 2.05%.
VIG has delivered a return of 114.6% over the past ten years, compared to SPY’s 110.5% return.
Guggenheim S&P 500 Equal Weight ETF(RSP)
Each of the stocks that make up the S&P 500 index are equally weighted in this product rather than by market capitalization. Due to equal weighting, this product has higher exposure to smaller companies that are more volatile but have higher return potential as well.
At the same time, equal weighting largely reduced single stock risk. Since its inception about 10 years back, the fund has significantly outperformed the broader market. It is up 128%, while SPY is up about 110% over the past ten years.
PowerShares FTSE RAFI US 1000 Portfolio (PRF)
PRF is based on a RAFI index that aims to select stocks based on four fundamental measures-- book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores.
Top holdings include Exxon Mobil, Apple and Chevron but the asset base is pretty well spread out with top 10 holdings accounting for less than 18% of the total. The product has an expense ratio of 39 basis points.
The ETF made its debut in December 2005 and has outperformed the Russell 1000 index since inception. Over the past ten years, PRF is up 118%, compared to SPY’s rise of110.5%.
Guggenheim S&P 500 Pure Value ETF (RPV)
S&P 500 pure style indexes divide one third of S&P 500 market capitalization as ‘Pure Growth and one third as ‘Pure Value’. These two buckets have no overlapping stocks. Index constituents are weighted by their style scores as opposed to market cap. Thus ‘pure’ approaches eliminate any overlap between growth and value.
RPV tracks the S&P 500 Pure Value Index and holds 114 securities in its basket. Deep focus on value stocks is evident from P/E and P/B ratios of 14.96 and 1.49 respectively. It has risen 128% over the past ten years, handily beating the broader market.
Bottom Line
Not all smart beta funds have outperformed their market-cap weighted counterparts. Further they usually have slightly higher expense ratios and many also come with higher trading costs, due to lower volumes.
But some of them have been consistently outperforming and are worth a look due to their excellent strategies. To begin with, investors should use products based on simple and transparent alternative methodologies that are easy to understand and are not too expensive.
More Stock News: Tech Opportunity Worth $386 Billion in 2017From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future. Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.See these stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-SP 500 TR (SPY): ETF Research ReportsISHRS-CORE DG (DGRO): ETF Research ReportsVANGD-DIV APPRC (VIG): ETF Research ReportsGUGG-SP5 EQ ETF (RSP): ETF Research ReportsGUGG-SP 500 PV (RPV): ETF Research ReportsPWRSH-FTSE RAFI (PRF): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Bitcoin and Ethereum Price Forecast Bitcoin Consolidates as ETH Crashes: Bitcoin prices continued on their consolidation and ranging phase and as we have pointed out many times over, over the last few days, this is likely to be the trend in the short and medium term as we wait for the next direction in the field of cryptocurrencies. Over the last few weeks, we have seen the interest increase in this field but that has not translated into higher volatility as yet. Bitcoin 4H It is clear that the bitcoin traders are a bit wary at these prices and ideally, they would like to see a correction in the prices before they start buying again. But those who have already bought the bitcoins are in no mood to left the price fall and that is one of the reasons for this consolidation. Also, as mentioned many times before, the number of bitcoins is finite and hence the demand and the prices are likely to continue to remain high despite competition from many such similar currencies. Bitcoin Forecast On the technical front, we see some strong support coming in the bitcoin prices at around the $2400 region and this support should be enough to keep the bulls interested. We expect this consolidation and ranging for some more days to come as the market and the traders prepare themselves for the next move. Ethereum Crashed Through Ethereum prices have broken through the support region at $260 and this has led to the prices pushing lower into the $230 region. We had mentioned the same in our forecast last week where we had said that a break through the tight ranges of last week would lead to a large move and this is what happened over the last few days as the prices crashed by close to 10%. This is just a measure of the volatility that the traders have to deal with and like every other instrument, this volatility has the capability to give or take out a lot from the traders. Get Into Bitcoin Trading Today This article was originally posted on FX Empire More From FXEMPIRE: AUDCAD Leaves no Hope for Buyers E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis July 10, 2017 Forecast E-mini S&P 500 Index (ES) Futures Technical Analysis July 10, 2017 Forecast U.S. Traders Will Be Watched to See If They Can Maintain Momentum E-mini Dow Jones Industrial Average (YM) Futures Analysis July 10, 2017 Forecast European Shares Rise Following Dovish Remarks from ECB Officials || Bitcoin splits, but clone off to slow start: By Anna Irrera and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin's underlying software code was split on Tuesday, generating a new clone called "Bitcoin Cash," but the new virtual currency got off to a slow start due to lackluster support for its network. The initiative was headed by a small group of mostly China-based bitcoin miners - programmers who essentially operate the bitcoin network - who were not happy with scheduled improvements to the currency's technology meant to increase its capacity to process transactions. These miners, who get paid in the currency for contributing computing power to the bitcoin network, initiated what is known as a "fork" on Tuesday, where the underlying blockchain splits into two potential paths, creating a new digital currency. The blockchain is a shared online ledger of all bitcoin transactions and has spawned a range of financial and business applications. Bitcoin's split has created a new competitor to the original digital currency, which remains the oldest and most valuable in circulation. Yet only a small fraction of bitcoin miners have been contributing their computing power to the new blockchain, and it took nearly six hours for the first batch of Bitcoin Cash coins to be mined this afternoon, according to Blockdozer Explorer, a firm providing data on digital currencies. "It's been a slow start for Bitcoin Cash," said Iqbal Gandham, managing director at trading platform eToro. "The delay ... could be a result of a lack of miner support for the new cryptocurrency." Bitcoin Cash on Tuesday traded on certain exchanges at a median price of $146.37, according to bitinfocharts.com, while bitcoin was at $2,729 on the BitStamp platform, down 4.6 percent from Monday. After the split, Bitcoin Cash has all the history from bitcoin's blockchain, creating the same number of tokens, plus the new currency created. People who held bitcoins before the split now have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender such as euros and dollars - or other digital tokens. The creation of new tokens may speed up as less computing power will be required to mine new blocks, said Jeff Garzik, co-founder of blockchain startup, in an email. Ryan Taylor, chief executive of Dash Core, a firm that manages the development of the Dash digital currency, said Bitcoin Cash may yet be short-lived. "Bitcoin Cash has not solved scaling," Dash said. "It has merely kicked the can down the road with slightly larger blocks, but still lacks a credible technology to scale to massively larger numbers of users." (Reporting by Anna Irrera and Gertrude Chavez-Dreyfuss; Editing by Bill Rigby) || Bitcoin ETFs: More Issuers Join the Race: The rising tide for cryptocurrencies like bitcoin, Ethereum and Ripple have lately shaken the investing world. Among the lot, bitcoin has been firing on all cylinders since the beginning of 2017, having hit a series record highs. In three months, the price of the digital currency has surged about 94%.
Investors should note that bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks (read: Explaining Bitcoin and Crypto Currency).
The currency is in the limelight probably because of the fact that “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” As per an article published on CNBC, bitcoin is emerging as a safe haven asset like gold.
source: coindesk.com
Needless to say, amid a sky-high price rise, the digital currency is gaining favor from ETF issuers, though the SEC is no quite happy with the concept. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision once again.
The SEC is seemingly looking for more proof of safety in this trade. Meanwhile, some more ETF issuers have lined up to seek regulatory approval with their bitcoin-related products (read: Will We Finally See a Bitcoin ETF?).
Inside New Filings
Investment firmVanEckfiled for an exchange-traded fund to invest in bitcoin derivatives in mid-August. Though VanEck acknowledged the riskiness of the product and believes that this digital currency is no match to gold as far as safe-haven status is concerned, the issuer could not overlook bitcoin’s monumental craze (read: Bitcoin Skyrockets, Race to First Cryptocurrency ETF Heats Up).
VanEck noted that the digital currency cannot even replace the necessity of the dollar, rather it is likely to end up in carving a place for itself as a niche product. VanEck’s proposed product will invest in certain Bitcoin Instruments through the Subsidiary and the investment in that subsidiary is likely to be limited to 25% of the portfolio, thus meaningfully lowering the risks.
After VanEck,ETF Firm REXalso planned a new fund that will invest in bitcoin-based derivatives. There are two products filed by REX, namelyREX Bitcoin Strategy ETFandREX Short Bitcoin Strategy ETF. The ticker codes and expense ratios of those funds are yet to be disclosed.
As per the filing, the long fund “seeks to achieve its investment objective, under normal circumstances, by obtaining investment exposure to an actively managed portfolio of financial instruments providing long exposure to movements in the value of bitcoin, together with an actively managed portfolio of fixed income instruments” while the short fund is intended to offer the negative exposure of the same asset.
What Lies Ahead?
The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times.
However, it looks like that the SEC may approve a fund in the coming days given rising pressure from issuers. Plus, the Russian government is also expected to make cryptocurrencies legal financial instruments in 2018, as per the source. Minneapolis Fed President Neel Kashkari pointed to the strength of the blockchain technology supporting bitcoin.
Among other interested candidates, the Chicago Board Options Exchange (CBOE) has teamed up with Gemini, the bitcoin exchange backed by investors Cameron and Tyler Winklevoss, in order to launch cryptocurrency derivatives trading.
Bitcoin’s Impact on the ETF World?
While it is still unclear if we will get a bitcoin ETF soon, the sheer success of the cryptocurrencies should benefit semiconductor ETFs likeiShares PHLX Semiconductor ETF SOXXandVanEck Vectors Semiconductor ETF SMH. This is because mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) is designed explicitly for mining bitcoin.
As per Bloomberg, there was a 10-fold rise from April to June in the Ethereum market which helped shares of Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD substantially (read: Should You Buy These Semiconductor ETFs & Stocks Now).
On the other hand, since some view the currency as “digital gold,” bitcoin trading may snatch some buyers fromSPDR Gold Trust GLD. Bitcoin’s un-correlated nature to the other asset classes and strong momentum may hurt GLD in the current scenario.
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[Random Sample of Social Media Buzz (last 60 days)]
#bitcoin #miner Bitmain Antminer S4+ 2.6TH/s Bitcoin Miner – SHA256 ASIC Mining Rig Server $345.00 http://ift.tt/2wA1bi7 pic.twitter.com/dRyhdGo4ol || luke-jr: No, TBC. https://www.reddit.com/r/Bitcoin/comments/6tain0/its_probably_time_to_make_mbtc_the_denomination/dlkpeie?context=3 … || #bitcoin to 8k in 2017 || One Bitcoin now worth $3395.07@bitstamp. High $3490.00. Low $3325.00. Market Cap $56.000 Billion #bitcoin || Something about it gives me anxiety, I'll trade all day but bitcoin makes me feel like I'm playing slots || The price of #bitcoin is now $3,218.29 pic.twitter.com/Z1TnJ9nNse || Can you please explain to me what bitcoin is? || goddammit I should've bought some bitcoin when everyone told me to. fuck || Jul 13, 2017 19:00:00 UTC | 2,353.50$ | 2,064.90€ | 1,819.60£ | #Bitcoin #btc pic.twitter.com/kSR3NcfmRU || $2268.79 at 23:15 UTC [24h Range: $2223.00 - $2402.50 Volume: 17134 BTC]
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Trend: down || Prices: 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-06-12]
BTC Price: 6582.36, BTC RSI: 28.51
Gold Price: 1295.10, Gold RSI: 42.61
Oil Price: 66.36, Oil RSI: 44.08
[Random Sample of News (last 60 days)]
Google searches for 'bitcoin' nosedive 75% this year as interest in struggling cryptocurrency wanes: • Searches for the term "bitcoin" have dropped more than 75 percent since the beginning of this year, according to research from Google Trends.
• "Bitcoin needs a new narrative in order to reestablish global attention," says Nicholas Colas, co-founder of DataTrek Research.
• The digital currency's price has dropped by roughly 50 percent this year, trading near $7,500 Monday.
Bitcoin prices have struggled this year, along with the cryptocurrency's ability to capture interest on the internet.
Searches for the term "bitcoin" have dropped more than 75 percent since the beginning of this year and roughly halved over three months, according to research from Google Trends.
Nicholas Colas, co-founder of DataTrek Research, pegged waning searches as a bad sign for prices.
"We use Google Trends to track search queries for 'bitcoin' as a proxy for potential new buyers," Colas said in an email to clients Monday. "Bitcoin needs a new narrative in order to reestablish global attention."
Google Trends uses numbers to represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. As of January 1, bitcoin's popularity was 37 and fell to a 9 as of June 2.
Colas also uses wallet growth as a proxy for interest, and said even small demand is a determinant for bitcoin prices. Wallets store the public and private keys which can be used to trade, or receive cryptocurrencies.
Growth in new wallets was roughly 2 percent in both April and May, and first-quarter compounded monthly wallet growth was 3.7 percent this year, Colas said. But for the last quarter of 2017 when bitcoin prices were nearing $20,000, wallet growth compounded monthly was 7.6 percent.
"The comparisons between the 2017 back half comps (excellent) and 2018-to-date (poor) are stark and explain essentially all of bitcoin's fall from grace this year," Colas said. "Simply put, history shows bitcoin wallet growth needs to be +5%/month to see meaningful price appreciation."
Bitcoin prices have dropped by roughly 50 percent this year, trading just below $7,500 Monday, according to CoinDesk. The world's first and largest cryptocurrency surged more than 1,300 percent last year, nearing $20,000 in December.
"This dog will have its day, but today isn't it," Colas said. "While we love the idea of bitcoin (and own a little ourselves), we are not fans of buying it at current levels."
Google searches for most other top cryptocurrencies has also cratered. For ethereum , the world's second largest cryptocurrency, searches are down 70 percent this year. XRP searches have fallen even more sharply, down 87 percent since January 1. Searches for the fourth largest digital currency, bitcoin cash are down 82 percent.
But for EOS , the fifth largest cryptocurrency by market cap, searches gone in the opposite direction. Google searches for that term have jumped 97 percent this year.
Much of that could be due to the company's recent fundraising efforts through what's known as an initial coin offering, or ICO. Start-up Block.one raised more than $4 billion through the cryptocurrency in a yearlong ICO that closed Friday.
Unlike an IPO, which gives investors stock ownership in a company, an ICO gives out tokens whose use case is based on a promise the platform will be useful in a digital network once it gets built.
More From CNBC
• For all the hype, blockchain applications are still years, even decades away
• Estonia says it won’t issue a national cryptocurrency and never planned to
• Apple co-founder Steve Wozniak hopes bitcoin will become a single global currency || 3 Things to Watch in the Stock Market This Week: Stocks posted significant gains last week, and as a result, both the S&P 500 (SNPINDEX: ^GSPC) and the Dow Jones Industrial Average (DJINDICES: ^DJI) have returned to positive territory for the year. ^SPX Chart ^SPX data by YCharts . The week ahead will likely bring more volatility, particularly for shareholders of Dave & Buster's (NASDAQ: PLAY) , H&R Block (NYSE: HRB) , and Michaels (NASDAQ: MIK) as each of these companies is set to announce quarterly earnings results over the next few days. Let's look at a few key trends to watch for in the reports. Dave & Buster's traffic trends After trouncing the market in the years following its 2014 initial public offering, Dave & Buster's shares have gone through a rough patch recently. Investors pushed the stock lower this year after sales growth slipped into negative territory. It turns out that competition is finding ways to pawn off some of the restaurant chain's casual customers, and the rise of home food delivery isn't helping protect customer traffic trends, either. A mother and daughter playing arcade games. Image source: Getty Images. Those struggles will keep investor attention on key growth metrics like comparable-store sales when Dave & Buster's reports earnings results on Monday afternoon. CEO Steve King and his executive team are hoping to get sales moving in the right direction again with help from smaller store concepts and a shift in the brand that better highlights its entertainment aspects. They're seeing strong returns from new store openings, too, but Wall Street might not celebrate those wins on Monday if Dave & Buster's remains on pace to post its second straight year of declining sales at existing locations. H&R Block's return volume Tax preparation specialist H&R Block will announce its fiscal fourth-quarter results on Tuesday afternoon in a report that's likely to have good news for investors. After all, the company got off to a strong start in the initial weeks of tax season, and that early momentum apparently held up through the quarter. In late April, executives said H&R Block had handled 19.9 million returns this year to mark a 3% boost over the prior year. That amounts to a solid turnaround, considering return volume declined in 2017. Story continues A man signs a check. Image source: Getty Images. Besides the final volume figures, investors will be following the mix of assisted and do-it-yourself returns. Gains in both segments will likely be required if H&R Block is going to reach management's fiscal-year goal of modest sales growth and steady profitability. Assuming it meets those targets, the company may make changes to its capital return program, including by boosting its dividend payout, which currently yields more than 3.5%. Michaels' profitability Investors are bracing for some bad news from Michaels on Thursday. The arts and crafts retailer met management's expectations at its last quarterly outing, but CEO Chuck Rubin and his team also issued a tough outlook for fiscal 2018. Specifically, they see sales potentially dipping into negative territory for the first time in years. Profitability is also set to decline as Michaels invests in store remodels and in extending its e-commerce capabilities. Overall, fiscal 2018 should amount to an investment year that, executives say, "will position us to increase our market share and expand our leadership in the arts and crafts channel." For signs that this transition is going as planned, investors will be following sales growth figures this week, which should hold steady compared to the prior quarter's 0.9% uptick. Operating margin will be key to watch over the next few quarters, too. That figure dipped to 13.7% of sales last year from 13.8%, but it's likely to fall harder as Michaels works to transition itself into a multichannel retailer. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool recommends Dave & Buster's Entertainment. The Motley Fool has a disclosure policy . || This Is the Best Chance You Have at Shorting Tesla Inc Stock: Ever since the late-March breakdown,Tesla Inc(NASDAQ:TSLA) has been in “Pothole Hell.”
Pothole Hell is the place car stocks go when buyers lose control. This week’s action has me thinking more pain is in the offing. Let’s explore the bearish turnabout and identify how to best capitalize on further weakness in TSLA stock.
The significance of the recent support breach can’t be overstated. As shown below the $300 price zone was a significant floor for many moons. Once it finally faltered, prices crashed, technical red flags flew and TSLA hasn’t been able to find its mojo since.
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It’s not exactly coincidence that $300 was the ceiling that ultimately felled the snap-back rally. Old support becoming new resistance isn’t just an interesting adage. It’s usually the truth.
Click to Enlarge
Source: OptionsAnalytix
Until bulls remount $300, the path of least resistance for Elon Musk’s flagship is lower.
Drilling down to the daily chart reveals a few more reasons why sellers hold the upper hand. Tesla is now submerged beneath the falling 200-day, 50-day, and 20-day moving averages.
• The 10 Fastest-Growing Stocks to Invest In Right Now
And they’re all pointing south. In a “sell-the-rallies” environment such as this, it’s going to take quite the spark to turn sentiment. What interests me today is the steady chipping away at support near $275.
Click to Enlarge
Source: OptionsAnalytix
Its eventual failure could lead to a swift descent back to the $245 pivot that finally halted the late-March breakdown.
If you’re willing to wager TSLA remains below $320 for the next six weeks, then sell the July $320/$325 bear call spread for 82 cents.
The potential profit is the initial credit which will be captured if the calls expire as worthless. The initial cost is $4.18. To lose it would require Tesla to race above $325.
I suggest bailing if the stock rises above $320 to minimize the damage. Your probability of success stands at 80% based on current option pricing.
As of this writing, Tyler Craig held bearish options positions in TSLA. Want more education on how to trade? Check out his trading blog,Tales of a Technician.
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The postThis Is the Best Chance You Have at Shorting Tesla Inc Stockappeared first onInvestorPlace. || Bitcoin Poised to Make a Move, the Bulls in Search of $8,500: Bitcoin gained 2.34% on Friday, partially reversing Thursdays 3.37% fall, to end the week down 2.69% at $8,243.4. It was a particularly choppy day for Bitcoin, which had endured 4 consecutive days of losses ahead of Fridays open, with a start of the day intraday low and new swing lo $7,925 certainly not helping the cause. In spite of the early tumble, holding above the days first major support level at $7,864.27 led to a break back through to $8,000 levels, with a 2 nd rally through the afternoon seeing Bitcoin hit an intraday high $8,277.2 before a slight easing back through to the days ending $8,243.4. The new swing lo and failure to test the days first major resistance level to have a run at the 23.6% FIB Retracement Level of $8,415 affirmed the near-term bearish trend formed at 5 th Mays swing hi $9,999, the bears continuing to run the show in spite of Fridays gains. Good news for the Bitcoin bulls will be Bitcoins resilience through the bearish week however, the losses minor relative to its peers, with Bitcoin recovering some lost ground over crypto rival Bitcoin Cash. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down 0.27% to $8,216.8, with Bitcoin managing to recover from an early morning dip to an intraday low $8,164.1. With support and resistance levels left untested on Friday, the mornings low held above the days first major support level at $8,019.87, with the mornings $8,277.8 falling short of the days first major resistance level at $8,372.07, in what could be yet another day where Bitcoin fails to test major resistance levels, Bitcoin having last tested major resistance levels on Monday. For the day ahead, Bitcoin will need to move back through to $8,250 levels to support a run at $8,300 levels to bring the days first major resistance level at $8,372.07 into play, though the bulls will need to take control for Bitcoin to break through to $8,300 levels Failure to move through the mornings $8,277.8 high to $8,300 levels will likely lead to another slide to reverse Fridays gains, with the days first major support level at $8,019.87 a certain target for the Bitcoin bears, Bitcoin having managed to avoid closing at sub-$8,000 levels since 18 th April. Story continues For the bulls, a shift away from Fridays start of the day swing lo $7,925 should provide some support, while side lined investors find little cause to jump back in, a roll out of regulations in key jurisdictions expected at any time. Current levels may look attractive, but when considering Bitcoins 2018 sub-$6,000 low that came off the back of heightened regulatory risk, there could more red to come in the coming weeks before the dust settles and the bulls take control. Elsewhere, Bitcoin Cash continued to slide, down 2.32% at the time of writing, with NEMs XEM, Stellars Lumen and Monero also seeing notable losses, while DASH and NEO were one of a few to buck the trend, up 0.64% and 0.09% respectively in the early hours. BTC/USD 19/05/18 Hourly Chart Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil markets rallied during the week again making fresh highs GBP/USD Fundamental Analysis week of May 21, 2018 Silver markets have negative week to find support on uptrend line US dollar breaks out against Japanese yen during the week Alt coins continue to soften during the week USD/CAD Fundamental Analysis week of May 21, 2018 || Why Spotify Technology Shares Tanked Today: What happened Shares of Spotify Technology (NYSE: SPOT) have tanked today, down by 7% as of 12:30 p.m. EDT, after the leading music streamer reported its first earnings release as a public company . Spotify's guidance going forward left a bit to be desired. So what Revenue in the first quarter jumped 26% to 1.1 billion euros ($1.36 billion), which led to a net loss of 169 million euros ($202 million). Gross margin came in at 24.9%, slightly above the high end of the company's guidance, which had called for gross margin of 23% to 24%. The company now has 170 million monthly active users (MAUs), including 75 million premium subscribers. Spotify interface on desktop Image source: Spotify. While top-line revenue and premium subscribers were mostly in line with expectations, guidance was a different story. Now what For the second quarter, Spotify is expecting MAUs to be in the range of 175 million to 180 million, with premium subscribers of 79 million to 83 million. The midpoint of that forecast (81 million) fell short of the 82.1 million premium subscribers that analysts are modeling for. Revenue should be 1.1 billion to 1.3 billion euros ($1.32 billion to $1.56 billion). The midpoint of that top-line forecast similarly fell short of the consensus estimate of 1.29 billion euros ($1.55 billion). However, Spotify is sticking by its outlook for the full year, and still expects total MAUs of 198 million to 208 million, with premium subscribers of 92 million to 96 million by the end of 2018. There just might be a few bumps getting there. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || 3 Biotechs on the FDA's Naughty List That Should Be on Investors' Buy Lists: For shame. That's the motivation of the U.S. Food and Drug Administration (FDA) recently published "naughty list." The agency wants to publicly shame certain drugmakers for allegedly trying to prevent generic-drug makers from accessing samples of some of their brand drugs. FDA commissioner Scott Gottlieb referred to efforts to keep samples out of the hands of generic-drug makers as "gaming tactics." Companies can often need several thousand doses of a brand drug to complete clinical studies for a potential generic version in order to win FDA approval. If they can't get those samples, they can't move forward. But at least three of the biotechs singled out by the FDA deserve to be on another list -- investors' buy lists. Here's why Celgene (NASDAQ: CELG) , Gilead Sciences (NASDAQ: GILD) , and Jazz Pharmaceuticals (NASDAQ: JAZZ) look like great stock picks right now. Businessman with yellow blocks spelling FDA on top of his palm Image source: Getty Images. 1. Celgene The FDA has received multiple inquiries from generic-drug makers indicating that they couldn't get enough samples for three of Celgene's blood cancer drugs -- Revlimid, Pomalyst, and Thalomid. The first two of these drugs are very important to Celgene, with Revlimid generating $8.2 billion in revenue last year and Pomalyst contributing another $1.6 billion. Inclusion on the FDA's list is among the least of Celgene's problems, though. The big biotech experienced a big pipeline setback in October with GED-0301 in treating Crohn's disease. Celgene also botched its regulatory filing for ozanimod in treating multiple sclerosis, a miscue that cost the company at least a year in potentially obtaining approval for the drug. These issues have helped cause Celgene to lose nearly half of its market cap during the last eight months. But there are lots of reasons to like Celgene. Its current drugs, including Revlimid and Pomalyst, continue to enjoy great sales momentum. Celgene's pipeline still appears to be very strong. Ozanimod should still win approval. The company also has other promising candidates with blockbuster sales potential, including fedratinib and luspatercept. Story continues Celgene stock currently trades at less than eight times expected earnings. The company's current product lineup and pipeline should enable the biotech to grow earnings by close to 20% annually over the next few years. That makes Celgene a great growth and value play, in my view. 2. Gilead Sciences Gilead Sciences made the FDA's list due to inquiries from potential generic applicants for pulmonary arterial hypertension drug Letairis and HIV drug Truvada. Sales for Letairis totaled $887 million last year, while Truvada generated a cool $3.1 billion. Gilead's bigger challenge by far, though, stems from its hepatitis C virus (HCV) drugs. Sales for these drugs have been plunging in large part due to fewer patients needing treatment. Gilead's drugs cure hepatitis C in most patients, so there aren't as many patients available as there once were. In addition, the company faces stiff competition from AbbVie 's new HIV drug Mavyret. Although Gilead doesn't have as low of a forward earnings multiple as Celgene, the stock still looks cheap with shares trading at 10.5 times expected earnings. Gilead could see better days in the near future. The company's management believes that HCV sales will stabilize for the most part later this year. Gilead's recently approved HIV drug Biktarvy is projected to be the biggest new drug launched in 2018 . The big biotech could be in even better shape over the long run. Gilead is a leader in the promising area of cancer treatment using CAR-T therapies , thanks to its acquisition last year of Kite Pharma. The company also claims one of the strongest pipelines targeting treatment of non-alcoholic steatohepatitis (NASH), an indication that could become the next big prize for the biopharmaceutical industry . 3. Jazz Pharmaceuticals Jazz Pharmaceuticals made the FDA's list because of one inquiry from a generic-drug maker who couldn't get enough samples for antipsychotic drug FazaClo. Is FazaClo a big moneymaker for Jazz? Not at all. The company didn't even mention the drug in its latest SEC quarterly or annual filings. Generic competition for FazaClo hasn't been a concern for Jazz. But it's a different story for narcolepsy drug Xyrem, which contributes more than 70% of the company's total revenue. However, Jazz managed to address the issue by striking a deal with Hikma Pharmaceuticals in 2016 that keeps a generic rival to Xyrem off the market until 2023. With Xyrem now secure and rocking along with solid momentum, there are other positives to focus on with Jazz. The company launched leukemia drug Vyxeos in August 2017. Jazz hopes to win FDA approval for solriamfetol in treating excessive sleepiness in adult patients with narcolepsy or obstructive sleep apnea (OSA) by Dec. 20, 2018. The drug could significantly expand sales for Jazz in the sleep-disorder market. Jazz Pharmaceuticals stock currently trades at 11 times expected earnings. Wall Street analysts project the biotech will grow earnings by an average of 16.5% annually over the next few years. I think that these solid growth prospects combined with an attractive valuation make Jazz one of the better biotech bargains on the market right now. About that naughty list In my opinion, the FDA's list isn't that big of a deal. The biggest seller of the drugs mentioned above, Celgene's Revlimid, already has a generic version scheduled to hit the U.S. market in 2022 -- several years before it loses U.S. patent exclusivity. Gilead's Biktarvy will likely do nearly as much damage to sales of Truvada as any generic competitor would. However, I have no problem with the FDA using the bully pulpit in an attempt to influence drugmakers. It will probably work to some degree. I won't be surprised if more biopharmaceutical companies make it at least a little easier for generic-drug makers to access samples of brand drugs. Celgene, Gilead Sciences, and Jazz Pharmaceuticals might even fall off the FDA's next list. But for investors, these naughty biotechs look like nice bargains. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Keith Speights owns shares of AbbVie, Celgene, and Gilead Sciences. The Motley Fool owns shares of and recommends Celgene and Gilead Sciences. The Motley Fool has a disclosure policy . || South Korea Dismantles $24 Million Bitcoin Pyramid Scheme: A South Korean court has fined two individuals found guilty of operating a bitcoin pyramid scheme that amassed over 26 billion won, approx. $24 million, from investors. In a ruling on April 19, Judge Hwang Jin-jin of the Incheon District Court in Korea issued sentences in fines of $15 million and $8 million for two unnamed individuals found to operate a pyramid scheme that raked in 16 billion won and 10.6 billion, respectively. According to Korean news agency Yonhap , the first individual who faces the higher fine is seen as the mastermind of the multi-level investment scheme based out of the Philippines that promised investors high returns through purported investments in bitcoin. The other individual, who served as chairman of the company managing the investments, is currently on the run with Interpol engaging in an active search for the fraudster. In roughly translated statements, Judge Hwang reportedly said in a ruling: The multi-level transactions is a risk to disturb the socio-economic order and mass production of many victims. The considerably large fines were based on the volume of investment poured into the fraud by many victims, the judge added. Cryptocurrency-related fraud continues to be prevalent in eastern Asia with scammers offering unrealistically high short-term returns by claiming to invest in cryptocurrencies to justify heightened earnings. This month alone, law enforcement authorities and regulators from Vietnam, China, and the Philippines have cracked down on Ponzi schemes and warned the public against investments in multi-level schemes. Vietnam, in particular, saw an unprecedented $660 million ICO-related fraud that conned over 30,000 investors across the country. Earlier this week, Chinese police arrested multiple individuals operating a nationwide cryptocurrency pyramid scheme that saw over 13,000 participating investors contribute a total of 80 million yuan ($13 million). In a notice on Wednesday, the Philippines securities regulator published a list of fourteen online cryptocurrency investment schemes, urging the public against any participation while warning operators of significant fines and criminal prosecution that includes sentencing of 21 years in prison. Featured image from Shutterstock. The post South Korea Dismantles $24 Million Bitcoin Pyramid Scheme appeared first on CCN . || Is Intrepid Potash's Turnaround Succeeding?: While the global fertilizer industry continues to struggle with imbalanced markets, efforts hyper-focused on operational efficiency have begun to pay off for several producers. Investors can count small cap Intrepid Potash (NYSE: IPI) among them. In the first quarter of 2018, the business squeaked out EPS of $0.01 after managing to lower cost of goods sold while increasing sales, lowering selling and administrative expenses, and reducing interest expense 80% compared to the year-ago period. It took one heck of an effort, but Intrepid Potash achieved a profitable quarter without much help from fertilizer selling prices. It was an encouraging period of progress, but it also was only a single quarter. Can investors be sure Intrepid Potash's turnaround is succeeding? A U-turn sign painted on the pavement. Image source: Getty Images. By the numbers The business is primarily built on two fertilizer segments: potash and a niche fertilizer compound called langbeinite, sold under the Trio brand name. In recent years the company has transitioned all of its potash production to low-cost solar evaporation ponds. Although total sales levels have dropped , the segment is profitable even at the current market's lowly selling prices. In addition to selling fertilizers, Intrepid Potash has also begun leveraging one of its best-untapped assets: water. Due to the nature of the business, there was always a need to secure water supplies, especially considering all of its production assets are in the arid landscapes of New Mexico and Utah. But with the Permian Basin, the world's most important energy-producing region next door (and even directly underneath its fertilizer reserves, in some cases), the company has been able to sell its excess water to energy companies for quick and easy profits. In fact, water sales accounted for 60% of total gross profit in the most recent period. Consider how the headline metrics stack up compared to the same quarter in 2017. Metric Q1 2018 Q1 2017 Change (YOY) Total revenue $53.2 million $48.6 million 9.3% Total gross profit $7.2 million ($2.5 million) N/A Total operating income $2.5 million ($9.7 million) N/A Net income $1.7 million ($13.7 million) N/A EPS $0.01 ($0.17) N/A Diluted shares outstanding 130.7 million 81.9 million 59.4% Operating cash flow $13.9 million ($1.7 million) N/A Data source: First-quarter 2018 press release. YOY = year over year. Story continues It's also worthwhile to go a level deeper and consider the segment-by-segment breakdown for the same periods. Metric Q1 2018 Q1 2017 Change (YOY) Potash revenue $27.1 million $27.2 million (0.6%) Potash gross profit $4.98 million $2.33 million 114% Potash price per ton $243 $240 1.2% Trio revenue $21.2 million $21.1 million 0.6% Trio gross profit ($2.08 million) ($5.18 million) N/A Trio price per ton $194 $202 (4%) Water revenue $4.98 million $0.32 million * Water gross profit $4.30 million $0.32 million * Data source: SEC filings. *Note: Percent increase omitted due to most recent quarterly performance being significantly higher than year-ago period. YOY = year over year. Trio is still struggling to turn a profit, but potash and water more than made up the difference. This is exactly what management told investors would happen when it began the turnaround strategy years ago. That is, that low-cost solar evaporation would deliver sustainable profits from potash production and that there was a sizable opportunity in water sales. Can the business continue to improve? Well, Intrepid Potash hasn't provided full-year 2018 guidance, owing to the fact that the fertilizer market remains volatile and uncertain. But management says starting off the year with $4.8 million in water sales puts the company on track to deliver $20 million to $30 million in revenue from the high-margin segment for the year. Considering it took in another $3.7 million from a separate water commitment during the first three months of 2018 -- recorded as a liability since deliveries haven't begun yet -- investors should be cautiously optimistic the business will hit the mark. In fact, it could deliver $17 million to $25 million in gross profit in 2018, which should go a long way toward keeping the company close to breakeven operations. A solar evaporation pond for potash production in the desert. Potash production in the desert. Image source: Getty Images. Of course, while water sales are proving lucrative, Intrepid Potash's success will ultimately be determined by the health of its fertilizer segments. A slow and steady recovery in selling prices should keep the potash segment profitable for the remainder of the year. That would be a hugely important development for investors for two reasons. First, the potash segment is profitable despite selling prices near all-time lows. All gains from here on out would result in significant incremental profits. Second, the Trio segment is not profitable, but its selling prices are largely influenced by potash selling prices. By the time it reaches profitable sales, the business would likely be much more profitable on the whole. In other words, Intrepid Potash appears to be well-positioned to capitalize on a prolonged recovery in the fertilizer industry. Whether or not selling prices continue to climb higher is largely dependent upon the actions of the industry's largest producers. That's especially true considering 60% of global production comes from just three companies -- and they haven't proven very good at balancing supply and demand in the last decade. New corn plants sprouting out of the soil. Image source: Getty Images. The turnaround could succeed, but... Intrepid Potash has done pretty much everything it can to position itself for success. It has transitioned to low-cost solar evaporation ponds for all potash production, which has enabled profitable output even at today's depressed selling prices. It has reduced corporate overhead and paid off debt (albeit through share offerings) to greatly lower operating expenses. And it has managed to monetize its highly coveted water assets near the Permian Basin. By all accounts, it appears as if the turnaround is succeeding and should deliver sustainably profitable operations. There's just one caveat: The remaining potential improvements to the business are largely out of management's control. In order for shareholders to realize the potential upside Intrepid Potash stock has to offer, the industry's major players have to demonstrate continued supply discipline. Unfortunately, that's far from certain. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || New Zealand dollar breaks down again on Thursday: The New Zealand dollarhas broken down a bit during the trading session on Thursday, slicing through the 0.69 level, an area that shows signs of major support on longer-term charts. It looks like the market is going to test that area eventually, and I think that eventually signs of negativity will appear on short-term charts that you can continue to short. The 0.69 level above is an area that would make sense as it is a large come around, psychologically significant figure. The 0.68 level underneath is massive support going back several years, so I think that if we were to break down below there the market could unwind rather drastically. I think we are going to continue to see US dollar strength over the course of the summer, so it makes sense that we would see this market fall. I think the 0.70 level above is going to be massive resistance, but if we were to turn around and finally break above that level, then I think the markets could continue to go much higher.
Expect volatility, but with a strengthening US dollar it could hurt a lot of commodity markets. If that happens, that should also put bearish pressure on the New Zealand dollar. The market breaking down below the 0.68 level sends this market looking for the next major support level in the longer-term charts, the 0.65 handle. This would of course be a major turn of events, so I think short-term selling is probably the best way.
Thisarticlewas originally posted on FX Empire
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• Silver markets rally on Thursday in divergence from gold || Forget GE: This Dividend Stock Is a Better Value: General Electric CompanyandEaton Corporation plcare both industrial companies with exposure to power markets, and they both currently sport dividends of around 3.4%, but that's where the similarity ends in terms of the investment proposition. GE has its benefits, but for dividend investors, Eaton Corporation is a better stock to buy. Here's why.
Image source: Getty Images.
The key differences between the two can be summarized as follows:
• Eaton's 2018 dividend is significantly better covered by its forecast free cash flow (FCF), and its FCF outlook is significantly better than GE's.
• GE faces challengesto its 2018 earnings and FCF, and it's by no means certain that it can maintain its current dividend in 2019.
• Eaton has been quietly improving operating margin in the last few years, and has an outlook for further margin expansion. Meanwhile GE may have along-term structural problem in its core power segment, given the shift toward using renewables for electricity production, rather than GE turbines.
• Eaton has some favorable end markets this year (trucks,process automation, andaerospace), and management believes the majority of its businesses are in the early to middle stages of the economic cycle.
All these points boil down to the greater certainty dividend investors can feel about Eaton's FCF outlook for 2018 onwards compared to GE's. This is not to say that GE is not a worthy investment -- after all, the company has two top-performing segments in healthcare and aviation. Furthermore, if GE can stabilize its deteriorating power segment and significantly boost its FCF generation in 2019 from the $6 billion to $7 billion expected in 2018, thenthe stock has substantial scope for appreciation.
However, as you can see in the following table, Eaton's near and mid-term outlooks are more certain than GE's, and Eaton is paying out significantly less of its FCF in dividend than GE is:
[{"Company": "Eaton Corporation plc(NYSE: ETN)", "Dividend Payout": "$1.1 billion", "2018 FCF Forecast": "$2.3 billion to $2.5 billion", "Dividend/FCF for 2018": "44%-48%", "Post-2018 FCF Outlook": "$8 billion over the next three years"}, {"Company": "General Electric Company(NYSE: GE)", "Dividend Payout": "$4.2 billion", "2018 FCF Forecast": "$6 billion to $7 billion", "Dividend/FCF for 2018": "60%-70%", "Post-2018 FCF Outlook": "N/A"}]
Data source: Company presentations.
Moreover, GE also has potential cash calls in the future from its significant pension deficit, some $28.7 billion at the end of 2017. By way of comparison, Eaton's pension deficit was $1.05 billion at the end of 2017 and, as outlined above, Eaton expects to generate $8 billion in FCF over the next three years.
In fact, GE is pre-funding its pension for the next three years by putting in $6 billion in 2018 and it's borrowing the money in order to do it. In other words its only thanks to a combination of debt and asset sales that GE is able to pre-fund its pension and pay its dividend. FCF of $6billion to $7 billion wouldn't be enough.
Moreover, GE has already lowered earnings expectations toward the bottom end of its guidance range for 2018 ($1.00 to $1.07), and it's fair to assume that FCF could come in at the bottom of the range.
In contrast, Eaton's recent presentation at the Electrical Products Group Conference saw CEO Craig Arnold affirming that the company is on track for its 2018-2020 goals:
• 3%-4% annual organic revenue growth, and 4%-7% annual reported revenue growth
• 11%-12% EPS growth
• FCF representing 10% of sales
• Segment margin expansion from a forecast 16.4%-17% in 2018 to 17%-18% in 2020 (Eaton's segment margin was 15% in 2015-2017)
Operating margin expansion is particularly important because Eaton's core segments -- electrical products, and electrical systems and services -- aren't typically seen as high-growth areas. For example, electrical products segment revenue only grew 3.1% from 2015 to 2017; revenue in the electrical systems and services segment was actually down 4.5% in the same period.
ETN Revenue (TTM)data byYCharts.
Eaton isn't going to be a high-growth business anytime soon, and GE stock arguably has more upside potential. However, GE also has downside risk to its earnings and FCF forecasts. Moreover, Eaton's combination of margin expansion and strong FCF generation means investors can sleep safely, knowing the dividend is safe.
In a nutshell, investors in Eaton are buying a stock with a 3.4% dividend and given that 2018 FCF is forecast to be more than 7% of its current market cap, there is every reason to expect dividend increases to come -- Eaton has increased its dividend annually for over a decade. That's good enough to make it a buy for value and income-seeking investors alike.
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Lee Samahahas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
VISA vibes. - http://bitcoin-wall.com - Generate Bitcoin. Take your free Bitcoin || #bitcoin cults... https://twitter.com/LaurelCoons/status/997233462418526209 … || Visa Network Crashes as Bitcoin Boasts 99.99% Uptime Since Genesis Block
https://bitcoinist.com/visa-network-crashes-bitcoin-boasts-99-99-uptime-since-genesis-block/ … || New post: "How to Watch the EOS Blockchain Launch" || #UniqueWebsiteDesign How do I get bitcoin money? http://bit.ly/2EeEt0t pic.twitter.com/BQKrlW7Dz3 || #Crypto #Blockchain #ARAW #arawtoken #icosale #ecommerce #payment #ether #ethereum #bitcoin #cryptocurrency #ICO #tokensale #arawpay #btc https://twitter.com/arawtoken/status/1003214717454778368 … || ##Vipstar Coin $VIPS #VIPS Was Added at 2018-05-01 13:00 http://bit.ly/2Fw8zvh #altcoins #bitcoin #crypto #blockchain #cryptocurrency #btc #fintech #altcoin #cryptocurrencies #ico #ethereum #investing #trading #eth #ltc #xrp #ripple #oil #xmr #bch || @_blockandchain_
@CryptoGuccii
@fraglistan
@SatoshiLite
@Hedgeye || $BTC #BTC BTCUSDT's price is within 0.02% of a buy slope of 21.234733 BTC at a price of 7378.46USDT on Binance || #cryptoverse Why does bitcoin mining make money? http://bit.ly/2ATxStu pic.twitter.com/55KayPDePa
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Trend: down || Prices: 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Hedge Fund Billionaire & Citadel Founder Ken Griffin Blasts Bitcoin: At the recent CNBC institutional investor Delivering Alpha Conference, Ken Griffin openly expressed his opinion against the digital assets. While Griffin’s words may be turning a few heads, this is not the first time the billionaire spoke ill of cryptocurrency.
Back in December, whenbitcoinsurpassed the $1,000 mark, Griffin said the coin fever was a bubble. Unlike many other voices, he believed bitcoin was not a fraud but the bubble would eventually end. At the time, Griffin admitted blockchain technology would eventually have a profound impact in the future world order.
Since then,his opinion seemingly remains the same. Interviewed by business journalist Andrew Ross Sorkin, Griffin let out his true thoughts on cryptocurrencies at Pierre Hotel’s ballroom in New York.
Sorkin teased Griffin, asking him what was he saying to his portfolio managers who wanted to invest in cryptocurrencies. Griffin didn’t hesitate, saying, “I don’t have a single portfolio manager who has told me we should buy crypto. Not a single portfolio manager.”
Surprisingly, the billionaire confessed he has wondered if his company should make markets in cryptocurrencies. However, in the end, he wasn’t able to put money in it, as he says cryptocurrencies are not a product he believes in.
Griffin believes cryptocurrency cannot succeed because there’s already a mandatory alternative in place — fiat currencies. Whether people want it or not, they’re still forced to use their national currencies to pay their tax bills or pay for governmental services.
In this sense, Citadel’s CEO thinks cryptocurrencies are “a solution in search of a problem,” stating, “There is no need for cryptocurrencies.” While these may be harsh words, he isn’t far from the truth. Currently, few people can subsist solely on cryptocurrencies — at some point, most people have to convert their funds to fiat.
Closing the interview, Griffin spoke to the millennials currently investing their money in cryptocurrencies. He advised them to invest in companies that will help advance society, create jobs, and grow the economy, rather than burying their funds in digital assets.
Featured Image from Shutterstock
The postHedge Fund Billionaire & Citadel Founder Ken Griffin Blasts Bitcoinappeared first onCCN. || Binance (BNB) And Nexo (NEXO) Launch Service Similar To Traditional Bank Loan: Nexo has teamed up with Binance Coin to offer loans similar to those in the traditional finance industry. In the new arrangement, holders of Binance Coin (BNB-USD) will be able to use the coins as collateral to access Nexo’s loans.
More coins to be added
Nexo intends to use the new partnership to increase the growth of the blockchain ecosystem. The company has started with BNB but has indicated that several other coins will be added as collateral for loans on its platform on a regular basis. The company has been a major player in advancing the adoption and use of cryptocurrencies.
Nexo specializes in assisting crypto investors to get more value from their wealth by offering quick access to loans. The loans are offered in EUR, USD and USDT (Tether) against the investors’ holdings in cryptocurrencies. The company allows crypto holders to pledge their assets and obtain loans instead of selling them. This way, investors are able to get immediate liquidity and also earn from future appreciation of their tokens and cryptocurrencies.
Attracting a lot of interest
This is a new concept in the crypto world but has already gained a lot of momentum. The program has attracted a lot of interest among hedge funds, crypto miners, as well as companies that ran successful ICOs. Many investors from different countries continue to sign up to the new service and to many, Nexo has been their first contact with the blockchain ecosystem.
Before the addition of Binance Coin, the company has been issuing investors with loans against their holdings in Ethereum (ETH-USD), Bitcoin (BTC-USD), as well as its native coin, the NEXO Dividend Token. Investors who borrow against their NEXO Dividend Token are offered a 50% discount on the loan interest. This also qualifies them to a 30% dividend on the net profit of the company.
Binance launched BNB after successfully running an initial coin offering (ICO) in which it raised $15 million. Following the launch, Binance became the biggest cryptocurrency exchange with a daily trading volume of more than $1 billion.
The postBinance (BNB) And Nexo (NEXO) Launch Service Similar To Traditional Bank Loanappeared first onMarket Exclusive. || Bank of America Earnings: The Best of the Big Banks?: Bank of America(NYSE: BAC)was the last of the "big four" U.S. banks to report its second-quarter earnings, delivering its report Monday, and it feels like the best was saved for last. Not only did Bank of America beat expectations on the top and bottom lines, but it posted impressive results throughout its operations with very little that could be interpreted as disappointing news.
With that in mind, here's a rundown of the numbers and why Bank of America could still have lots of room to grow.
Image Source: Bank of America.
Bank of America beat expectations on both the top and bottom lines. Earnings per share of $0.63 handily beat analysts' $0.57 estimate and represented staggering 43% year-over-year earnings growth.
To be fair, much of that was fueled by tax reform, which I'll discuss more in the next section, but the bank's revenue increased by 3% to $22.6 billion, which was approximately $300 million more than analysts had been hoping for.
I mentioned that a substantial portion of the earnings growth came from tax reform, so just to put some numbers behind that statement, consider that Bank of America's income tax expense dropped to $1.7 billion for the quarter from $3 billion in the same quarter last year. In terms of effective tax rate, Bank of America's has plunged from 37.1% to 20.2%.
This has resulted in a surge of profitability, as Bank of America is generating returns well above industry benchmarks for the first time since the financial crisis. The bank's 10.8% return on equity and 1.17% return on assets would have seemed impossible just a few years ago but are now a reality.
On a non-tax-reform note, Bank of America's management has done a great job of embracing technology and reducing expenses, which has resulted in continuously improving efficiency. The bank's 59%efficiency ratiois the best it's been in years and makes Bank of America one of the most efficient big banks.
Bank of America set aside $800 million to cover credit losses during the quarter. While this sounds like a massive amount of money (and it is), analysts were expecting nearly $1 billion, so this was also a positive surprise.
Just to run through a few more positive highlights of Bank of America's second quarter:
• Bank of America's consumer banking division had 7% loan growth and 5% deposit growth.
• Merrill Edge brokerage assets have increased 20% year over year.
• Global wealth and investment management client balances soared to a record $2.8 trillion.
• Trading revenue grew by 7%, including 17% growth in equities and 2% growth in fixed income.
• Noninterest expense dropped 5%, which helped to drive efficiency.
In fact, the only negative metric I can find (and it's notthatbad) was a slight miss on loan growth. Bank of America's loan portfolio grew by more than 2% to $935.8 billion during the second quarter, experts had been looking for $942 billion.
As a final thought, it's important to emphasize just how successful Bank of America has been when it comes to investing in and integratingnew banking technologyinto its operations. The bank has been named No. 1 in terms of online banking and digital sales functionality by several prominent industry publications, and it continues to grow its portfolio of mobile and digital services.
Because of these improvements, Bank of America has been able to strategically reduce its branch count while simultaneously expanding into new markets, such as Cincinnati, Cleveland, and Denver, just to name a few. If Bank of America can continue this growth trajectory in an efficient and responsible manner, the bank's bottom line could certainly have a long way to climb in the years ahead.
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Matthew Frankelowns shares of Bank of America. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || South Korean Crypto Exchange Bithumb Re-opens Deposits & Withdrawals: South Korean cryptocurrency exchange Bithumb will resume deposit and withdrawal services on Saturday at 11 am KST. The exchange had suspended all deposits and withdrawal services on its platform following the June hack on a hot wallet, which led to the loss of tokens valued at over $30 million.
The exchange made the announcement earlier today via a tweet on its official Twitter handle.
However, only 10 cryptocurrencies have been approved for the first round of service resumptions, namely Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Qtum (QTUM), Litecoin (LTC), Bitcoin Cash (BCH), Monero (XMR), Zcash (ZEC), and Mithrill (MITH). Deposit and withdrawal services on 25 other cryptocurrencies remain suspended.
An excerpt from a post on Bithumb’s website about the continued suspension reads:
“Some cryptocurrencies with a significant price difference of about 10% between Bithumb market and standard market will be opted out in this round in view of protecting our customer’s asset. Since when the services return to normal, rapid change in market prices are expected. Therefore, resuming normal services for such cryptocurrencies will be put on hold for the time being.”
It was also announced that all deposit addresses had been changed and customers are to request for new ones. All uncredited deposits made while services were on hold will also be returned.
The exchange operator, which was among South Korea’s largest exchanges by volume before the hack, is one of 12 exchange firms to pass a series of inspections carried out by the Korean Blockchain Association back in July. Other crypto exchanges that passed the tests include Korbit, Huobi Korea, OKEx and Upbit.
Bithumb’s market absence had a negative effect on the Korean crypto market, with many investors taking a negative cue from the hack and the subsequent KBA security audits. After passing the assessment and announcing its gradual return to regular operations, many hope that this will have a positive knock-on effect on crypto trading in South Korea.
In spite of this, the exchange firm is unable to renew and establish contracts with banks and as such, it has had to suspend the issuance of new bank-linked virtual accounts.
CCN earlierreportedthat, in January, regulators banned cryptocurrency trading through anonymous virtual bank accounts. To facilitate the linking of traders exchange wallets to their bank accounts, exchange firms are to establish contracts with local bank and renews such contracts every six months.
It was reported on Aug. 1 that Nonghyup Bank refused to renew a contract with Bithumb due to concerns of security following the June security breach.
Images from Shutterstock
The postSouth Korean Crypto Exchange Bithumb Re-opens Deposits & Withdrawalsappeared first onCCN. || This Was the Average American's 401(k) Balance Last Year. How Do You Compare?: The benefit of saving for retirement in a 401(k) is getting a chance to sock away a large sum each year. Currently, the annual maximum for workers under 50 is $18,500. Workers 50 and over, meanwhile, get a catch-up provision that raises that number to $24,500. Now these limits do represent an increase from the previous year, but given these figures, you'd think we'd be seeing some pretty strong numbers as far as 401(k) balances are concerned. New data from Vanguard, however, tells us that the average 401(k) balance among their participants was $103,866 last year. Glass jar with rolled-up bills and coins labeled 401K IMAGE SOURCE: GETTY IMAGES. At first glance, that might seem like a decent chunk of savings. But in reality, it's not a whole lot in the grand scheme of what could easily be a 20-year retirement or longer. Furthermore, while the average savings balance in 2017 was $103,866, the median balance was only $26,331, which means a large number of savers have much less than the average. Of course, these numbers have a lot more meaning in the context of age. A 29-year-old saver with $103,866 is probably in pretty good shape for retirement, especially if he or she continues to save consistently. A 58-year-old with that sort of balance, on the other hand, is hardly sitting pretty. And if you're somewhere in between, well, you're off to an OK start, but you should also plan on doing better. You need more savings than you think Many Americans assume that Social Security will cover the bulk of their retirement expenses -- but it won't. In a best-case scenario, those benefits will replace about 40% of your previous income, but you'll probably need double that amount to live comfortably, which means that in the absence of an employer pension, that money will need to come from you. Now there's no magic savings number that guarantees you'll manage to cover all of your bills throughout retirement, but as a general rule, if you begin by withdrawing 4% of your savings balance during your first post-work year, and then adjust subsequent withdrawals for inflation, there's a good chance your nest egg will last for 30 years. Therefore, if you're nearing retirement and are looking at a balance of $103,866, that translates into $4,154 of income per year. If you collect what the average Social Security recipient gets today, you'll have roughly another $16,800 to work with. All told, you'll be looking at just under $21,000 a year to pay your living expenses, which clearly isn't enough. Story continues Related Video: Will 401(k) Forfeiture Take Away Your Retirement Savings? Therefore, if you're in your 50s or 60s and don't have much more socked away for retirement than the average saver, you'll need to start doing better. That could mean cutting expenses to free up more money for your 401(k), or getting a side job to generate additional income on top of what your regular job pays. Furthermore, you should strongly consider extending your career to not only add to your nest egg, but delay Social Security for as long as possible. For each year you hold off on filing for benefits past your full retirement age , you'll boost your payments by 8% -- for life. Will those last-ditch efforts be enough to salvage your retirement? It depends on how well you do, but let's assume you're 60 years old with $103,866, and you manage to max out your 401(k) for the next 10 years. At the current limits, doing so will bring your nest egg value up to about $543,000 if your investments generate an average annual 7% return during that time. If you then withdraw from savings at a rate of 4% per year, you'll be looking at close to $22,000 in annual income from savings, as opposed to just the $4,154 we saw above. And that paints a much nicer picture. Though $103,866 might seem like a lot of money for retirement, if that's all you end up with, it probably won't cut it. If you're older and are looking at a balance like that, you'll need to start doing better immediately. But that doesn't mean you're off the hook if you're younger. It always pays to ramp up your retirement plan contributions and grow the most wealth possible, and if you make the right lifestyle choices, you'll be able to do just that. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || About to Buy Cryptocurrencies? Look At These 3 Companies First: Cryptocurrencies can be volatile and risky and therefore don't make great long-term investments. So, it could be a smarter idea to invest in companies that could benefit from cryptocurrencies if they continue to grow in popularity, but don't depend on them for success. With that in mind, here's why three of our Motley Fool contributors think would-be cryptocurrency investors are better off considering American Express (NYSE: AXP) , Discover Financial Services (NYSE: DFS) , or Mastercard (NYSE: MA) instead. Design of several cryptocurrency symbols. Image Source: Getty Images. This payments giant could be a better investment than any cryptocurrency Matt Frankel (American Express): Instead of investing in a cryptocurrency, the smarter approach is to invest in a business that could benefit tremendously if these digital assets continue to gain traction but that will be completely fine if they don't. American Express is an excellent example, as the company is already experimenting with Ripple's payment technology for international transactions. The idea is that if Amex can offer cross-border transactions that are quicker and cheaper than the competition, it could be a big competitive advantage. Cryptocurrencies aside, the company has the competitive advantage of an affluent cardholder base, with the average Amex cardholder spending about five times as much on their card as the average credit card customer. This allows the company to charge higher swipe fees to merchants. And the company's renewed emphasis on higher-end credit card products, such as its revamped Platinum Card and ultra-premium Hilton co-branded card, should keep this advantage alive. These products aren't only keeping the company's affluent clientele around, but are bringing in tons of millennials, which are Amex's key to success going forward. In fact, nearly half of new Platinum Card accounts in 2017 were opened by millennials, driven by new and appealing benefits such as $200 in free Uber rides. Finally, if you think that the credit card business is about as big as it's going to get, think again. American Express still has a huge market opportunity and is doing a great job of trying to capitalize on it. It estimates that there's about $34 trillion of additional spending around the world that could be taking place on cards. Buy this bank and get a payments network for free Jordan Wathen (Discover Financial Services): The best evidence that the payments business is an extraordinary one is how many companies (and cryptocurrencies) are trying, largely unsuccessfully, to break in. I like Discover as an investment in a highly profitable bank that just so happens to have a lucrative payments network, too. Story continues Discover's lending capabilities were validated by the fact it sailed through the Fed's most recent stress test. Of the 34 banks tested by the Fed, it was one of eight that the Fed believes would remain profitable even in a severely adverse scenario in which unemployment soars to 10%, stock prices dive 65%, and home prices drop 30%. Though credit card loans are subject to high loss rates in economic downturns, the high yields earned on performing loans compensate for the losses. Investors don't give Discover's network the respect it deserves, either. Discover cards are accepted in about as many places as Visa and Mastercard, and last year the company earned more than $1 billion in fee revenue related to card use, after deducting rewards paid to cardholders. It's my view that the market is undervaluing Discover's lending franchise (and seemingly giving no value to its payments network) given that shares trade at roughly nine times consensus earnings estimates in 2018. Mastering the blockchain Dan Caplinger (Mastercard): The cryptocurrency revolution has taken the investing world by storm, and many investors are trying to find the companies that will make their fortunes by concentrating exclusively on bitcoin, Ethereum, and other popular crypto tokens. Yet with several cryptocurrencies concentrating on making payment transactions more efficient, Mastercard is an appropriate choice for a mainstream company in a position to profit greatly from advances in crypto technology. Last October, Mastercard announced that it would start allowing some banks and merchant partners to use Mastercard's own version of blockchain technology to facilitate payments. Rather than using bitcoin or another crypto token as an intermediary, the card giant instead believes that it can develop its own parallel framework for payment facilitation. That essentially means eliminating competition at the source, and doing so early on is important in order to keep loyal customers in Mastercard's fold rather than letting them slip away to crypto-based upstarts. Mastercard isn't the only financial company looking to use blockchain for its own ends, but it seems to be more in touch with the potential of crypto technology than some of its peers. For investors looking closely at cryptocurrencies, Mastercard's adept handling of the field makes it worth a look for those hoping to profit from technology advances in the industry. More From The Motley Fool 16 Cryptocurrency Facts You Should Know Experts Warned – The Crypto ‘Bloodbath’ Is Here How to Buy Bitcoin Dan Caplinger has no position in any of the stocks mentioned. Jordan Wathen has no position in any of the stocks mentioned. Matthew Frankel owns shares of American Express. The Motley Fool owns shares of and recommends Mastercard. The Motley Fool owns shares of Visa. The Motley Fool has a disclosure policy . View comments || Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run: The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party.
On Tuesday,bitcoinbrief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high, it has nevertheless risen 10 percent in the past week and 29 percent over the course of a month.
As noted by Mati Greenspan, a senior market analyst ateToro, this rally was fueled in the spot markets by the usual suspects — traders in Japan and South Korea — who provided a surge of volume to help push the bitcoin price past key levels.
“According to the volume on exchanges, it seems clear that the rally is being led by East Asia,” Greenspan wrote in commentary provided to CCN. “The US Dollar had a spike as well but it was much more focused. Meaning that the Americans only participated during the extreme part of the surge and less in the before and after party.”
That’s not to say that the U.S. was absent from the rally. In fact, Greenspan said, trading data from Chicago-based. derivatives exchanges CME and CBOE — the only two regulated U.S. exchanges to listbitcoin futures— suggests that Wall Street wants a piece of the action.
Tuesday trading volume on CME reached 12,878 contracts across all expiration dates, worth an equivalent 64,390 BTC (each contract represents 5 BTC). CBOE traders exchanged 7,138 contracts, each equivalent to 1 BTC, bringing total U.S. bitcoin futures volume to 71,528 BTC. At $8,000 per coin — the mean of Tuesday’s opening and settlement price in CME’s August futures market — this translates into a daily volume of $572.2 million.
That volume is still minor relative to the global cryptocurrency marketplace, however. The worldwide bitcoin spot market saw more than $7.7 billion in volume on Tuesday, according to CoinMarketCap.
Moreover, Hong Kong-based cryptocurrency margin trading platform BitMEXreportedthat it saw a record 1 million XBT contracts traded during a 24-hour period on Tuesday, worth more than $8 billion. The vast majority of this — more than $7 billion — was concentrated in XBT/USD markets.
Nevertheless, this uptick in bitcoin futures volume could serve as another in agrowing listofdata pointsandanecdotesthat suggest Wall Street is beginning to make a strategic entry into this nascent ecosystem.
Featured Image from Shutterstock
The postWall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Runappeared first onCCN. || Crude Oil Price Update – Concerns Over Size of Gulf Exports Limiting Gains: U.S. West Texas Intermediate crude oil futures are trading slightly higher on Tuesday, the market has come down a little after posting strong gains earlier in the session in reaction to a possible strike by Norwegian oil workers. Most of the gain, however, is centralized in the Brent futures contract. At 1222 GMT, August WTI crude oil futures are trading $74.12, up $0.27 or +0.37%. Prices are also being underpinned by renewed geopolitical supply-side disruptions from Canada, Venezuela, Libya and Iran. Uncertainty over exports from Saudi Arabia and Russia may be helping to limit gains as well as increased production from the United States. Daily August WTI Crude Oil Daily Technical Analysis The main trend is up according to the daily swing chart. A trade through $75.27 will signal a resumption of the uptrend. The main trend will change to down on a move through $72.14. The short-term range is $75.27 to $72.14. Its 50% level or pivot at $73.71 is controlling the price action. On the downside, the first support is a Fibonacci level at $70.51, followed by a support zone at $69.34 to $67.93. Daily Technical Forecast Based on the early trade and the current price at $74.12, the direction of the August WTI crude oil futures contract today is likely to be determined by trader reaction to the pivot at $73.71. A sustained move over $73.71 will indicate the presence of buyers. This could lead to a labored rally with downtrending resistance angles coming in at $74.27 and $74.77. The latter is the last potential resistance angle before the $75.27 main top. A move through $75.27 will signal a resumption of the uptrend. The daily chart shows there is plenty of room to rally above this level with potential targets the November 21, 2014 top at $79.72 and the November 3, 2014 potential top at $81.09. A sustained move under $72.71 will signal the presence of sellers. This could trigger an acceleration to the downside with $72.14 the next target. Taking out $72.14 will change the main trend to down. This could lead to a test of the uptrending Gann angle at $70.90. Story continues This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 10, 2018 Forecast The Pound Continues to Weaken as UK Political Uncertainty Prevails, Global Stocks Rise Commodities Daily Forecast – July 10, 2018 How Bitcoin Helps Bankroll North Korea’s Arms Program Gold Price Futures (GC) Technical Analysis – July 10, 2018 Forecast Crude Oil Price Update – Concerns Over Size of Gulf Exports Limiting Gains || Chinese Authorities to Shut Down ‘Illegal’ Bitcoin Mining in Autonomous Region: Xinjiang Uyghur, an autonomous region in northwest China, has warned local Bitcoin mining enterprises to close their operations before August 30, 2018.
Chinese news outlet Jinsepublishedthe notice posted by the Xinjiang Economic and Information Commission on July 21. These mining companies will also have to report to the commission.
As explained in the notice, one of the reasons for taking this step is that these companies haven’t undergone tax registration. Furthermore, they are not registered as mining enterprises and fail to comply with local regulations. Another reason for shutting down such companies is that they are not in agreement with any power supply company in the autonomous region. Hence, not only are they operating illegally but also utilizing a large amount of electricity.
Similarly, another document surfaced on the internet in January 2018, where Xinjiang’s local authorities were supposed to report the progress of miners exiting the region. Xinjiang’s commission also requested authorities to be cautious when dealing with Bitcoin mining companies in June 2017.
Before Xinjiang’s crackdown on cryptocurrencies, Bitmain, the world’s largest Bitcoin mining company based in China, announced on November 2016 that it was planning to open a mining data-center in the region. However, the company hasn’t provided any update after the initial announcement.
Ever since September 2017, China has been trying its best to lessen mining activities in the country. Up until then, the country was home to the biggest mining companies in the entire world. Even now,Bitmaincontrols 51% of the Bitcoin hash-rate.
China has shut down many crypto exchanges and mining companies, however, Bitcoin miners are still present in the country.
For instance, Sichuan, a province in China which was once known as the country’sBitcoin mining capital, was recently hit by floods. Upon close inspection, it was discovered that some of theBTC mining farms were destroyed. Li Yang, the owner of a $5 million mining rig, told a local news channel that the unfortunate incident cost him 10 million yuan (~$1.5 million). The report stated that as a result of the flood, many miners were planning to move to Xianjiang to continue their mining operations. However, with the latest notice provided by Xianjiang’s commission, these miners will definitely need to find another solution.
Xinjiang Uyghur image from Shutterstock.
The postChinese Authorities to Shut Down ‘Illegal’ Bitcoin Mining in Autonomous Regionappeared first onCCN. || Walgreens Drags Dow Lower Just Days After Replacing GE: The Dow is down sharply early Thursday with the headlines blaming lingering concerns over an escalating trade war between the United States and its major trading partners, China and the European Union for the triple-digit, 0.48% loss.
However, if you dig deeper into the cause of the sell-off and the size of the move, you may want to place the blame on the performance of Walgreens.
Just days afterWalgreens (WBA)replaced General Electric Company (GE) in the Dow Jones Industrial Average after the close on Monday, it is the biggest drag on the stock market.
The catalyst behind the weakness in Walgreens, or for that matter the health-care sector today is the news that Amazon is acquiring online pharmacy PillPack in a deal that could shake up the prescription drug industry.
Although both Amazon and PillPack did not disclose the details of the pact, traders expect the move to be completed during the second half of the year.
According to Walgreens Boots Alliance CEO Stefano Pessina, “Yes, it’s a declaration of intent from Amazon.”
This is significant to the health-care industry because it may lead to lower prices for pharmaceutical prescriptions over the long-run. On the surface, the deal is a major sign that Amazon is serious about its intent to move further into the health-care industry.
Analysts are saying that the move threatens to remove one of the few distinguishing factors pharmacy chains have relied on to fend off Amazon, the sale of prescription drugs.
Shares of Walgreens, CVS Health and Rite Aid all tanked after the announcement along with drug distributors Cardinal Health, AmerisourceBergen and McKesson.
Not only is the prescription of the three major retails being threatened, but also their so-called “front of store” sales, which have already suffered from weaker sales due to the impact of Amazon’s main business.
The move by Amazon is important because it represents an aggressive attack on the status quo of the healthcare system in the U.S., which could eventually lead to lower prices for consumers across the board.
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Earlier in the year, Amazon announced an alliance with Berkshire Hathaway and JPMorgan Chase to form their own healthcare insurance provider to help their companies get better control over employee and company healthcare costs. Today’s acquisition of PillPack may be part of the retail giant’s overall play to lower healthcare costs.
The weakness in the healthcare sector today is just another concern for investors who are already facing challenges this week from escalating trade war tensions.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
Cotización del Bitcoin Cash: 537 40.€ | -0.24% | Kraken | 08/08/18 09:00 #BitcoinCash #Kraken #BCHEUR || @eztechwin || @India_Bitcoin || Past week #bitcoin has increased 205%. Currently at $6,685.00 || @Bitcoin_price_8 || Top 5 #cryptocurrencies
Alert Time: 2018-08-05 00:10:17
#Bitcoin: $7,013.454
#Ethereum: $405.444
#XRP: $0.428
#BitcoinCash: $694.475
#EOS: $6.950
#instanews #altcoins #ltc #enigma $XBT
http://www.coincaps.ai || @Bitcoin_Post || @btc_reddit || @eztechwin || @Bitcoin_price_8
|
Trend: down || Prices: 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Investview (‘‘INVU’’) announces delay in filing its Annual Report on Form 10-K: Investview, Inc. Eatontown, NJ, April 18, 2022 (GLOBE NEWSWIRE) -- Investview, Inc. (OTCQB: INVU) today announced a delay in the filing of its Annual Report on Form 10-K for the fiscal transition year ended December 31, 2021 within the prescribed period as the Company and its new management team require additional time to complete and review the presentation of the accounting and narrative disclosures required to be included therein. Speaking to this development, Company Chairman, David B. Rothrock commented, “while we are never pleased to delay the timely release of our public information, we are extremely pleased that our new management and finance team has elected to take the additional time that they require to make sure that the Annual Report, when filed, will reinforce an exacting portrayal of the Company’s historic financial statements, current finances, business operations, ongoing challenges and strategic initiatives and opportunities. Despite this delay, we believe the new executive team we have put in place will be able to address our short-term challenges, execute upon and improve our current business model and, where appropriate, implement new strategic initiatives that we expect can unlock significant long-term shareholder value.” About Investview , Inc. Investview, Inc., is a financial technology (FinTech) services company operating in several different businesses, including a Financial Education and Technology business that delivers a series of products and services involving financial education, digital assets and related technology, through a network of independent distributors; a Blockchain Technology and Crypto Mining Products and Services business including leading-edge research, development and FinTech services involving the management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets; and a Brokerage and Financial Markets business that is currently in the early stages but plans to expand within the investment management and brokerage industries by commercializing on a proprietary trading platform we acquired in September 2021. For more information on Investview and its family of wholly owned subsidiaries, please visit: www.investview.com . Story continues Forward-Looking Statements All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may,” “should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. These forward-looking statements are based on Investview’s current beliefs and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. More information on potential factors that could affect Investview’s financial results is included from time to time in Investview’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak only as of the date of this release, and Investview, Inc., assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law. Investor Relations Contact: Ralph R. Valvano Phone Number: 732.889.4300 Email: [email protected] || Metakingdom, the First Epic Kingdom Game Updated Development Progress After Successful INO: Metakingdom Singapore, April 25, 2022 (GLOBE NEWSWIRE) -- Metakingdom , an epic encrypted NFT kingdom game has successfully closed its first INO with a revenue of $USD 518,420. The play-to-earn game made huge progress in 2021 and is now poised to deliver a one-of-a-kind experience to fans of NFT gaming this year. Metakingdom has numerous innovative features to bring play-to- earn mechanisms to the next level with a world of 20 alliances in the war world. The project kicked off for about 4 months now, gamers and traders communities have reached a certain level of knowledge about the war world with complicated attributes structure, making smart decisions on battle to maximize gamers’ earning. In 2021, MetaKingdom’s core team members saw a hug potential of GameFi - a combination of blockchain technology, decentralise finance concepts and gaming. MetaKingdom’s team members are from different professional fields including cryptology, gaming, finance and ai etc, they aim to combine their professional and academic experiences into MetaKingdom and build a true vibrant community and fun to play game. MetaKingdom contains both PVP and PVE standards. By operating and upgrading heroes and territorial kingdoms, players can continuously improve the kingdom's level and military power, then lead their corps to conquer cities, seize treasures & resources, and obtain more heroes at the same time. Players are also allowed to form up and join the clan so that they will be able to suppress bandits, siege cities, kill monsters, and experience the fun of war with their friends and other players. Mark Hopkins, CEO of Metakingdom attended Bitcoin 2022 in Miami in early April. “GameFi represents a fundamental shift in the gaming industry from silo’d value capture to the liberation of the player. The trend in software in general (including the gaming industry) is to create protocols and platforms with the intent on locking the user into an ecosystem they can't easily break out of. GameFi is a disruptive change to this paradigm, encouraging users to freely come and go off the gaming ecosystem, which will ultimately enrich players and publishers alike.” Mr. Hopkins said. He also shared his view on Bitcoin’s price trend in 2022, “No one has a crystal ball to determine the price of Bitcoin, but I'm a cypherpunk, and a 10+ year veteran of the crypto space. I strongly believe in the transformative power of blockchain and bitcoin, and if we look around the world, businesses, countries, and individuals are all waking up to this fact and increasing their dependency on Bitcoin. This can only have a positive impact on the price. Anyone betting against Bitcoin on a 10-year time horizon is going to lose.” Website | Twitter | Medium | Discord Story continues CONTACT: Proleo.io info (at) proleo.io || Warren Buffett disciple Joel Greenblatt doesn't own bitcoin because he believes there's no intelligent way to value it — and has no FOMO about that: • Joel Greenblatt isn't a bitcoin investor because there's no intelligent way to value the cryptocurrency, he said.
• The Gotham co-CIO doesn't have "fear of missing out" on bitcoin's gains, because he likes sticking to what he knows.
• "I have no basis on which to say it's going to go higher or lower," the Warren Buffett disciple said Tuesday.
Veteran investor Joel Greenblatt hasn't bought anybitcoin, because he doesn't think there's an intelligent way to value the cryptocurrency.
"Bitcoin is never gonna earn any money," the co-CIO of Gotham Asset Management said in a Tuesdayepisode of the "Investor's Podcast Network."
"To me, it's a speculation. I have no intelligent way to value it. So I'm not saying people will make money speculating in bitcoin or gold," he added.
"It's alien to me as an investment because I can't value it. It has no inherent value. It has no earnings."
Greenblatt, famous forproviding seed money to "Big Short" investor Michael Burry to start Scion Capital, averagedannual returns of 50%between 1985 and 1994 when he was managing Gotham Capital. He's attributed his success to following the investing philosophies of Warren Buffett and Ben Graham.
Berkshire Hathaway CEO Buffett himself hascriticized bitcoin, describing it as "rat poison squared" and saying it "doesn't produce anything."
Value-investment guru Greenblatt said he'd been wrong in believing bitcoin would never hit the dizzying heights that it's managed to achieve. But sticking to what he knows is important to him, he added.
Bitcoin was last up above $47,000 as market sentiment has turned bullish over the past week, alongside a broader rally in global asset prices. Crypto experts consider this to be the beginning of a strong bull market.
"I don't feel bad about it," Greenblatt said, adding that he feels disciplined he didn't participate in the crypto craze.
"And of course, you're gonna miss thousands of things that you woulda-coulda-shoulda bought. But if you just concentrate on the things that you're working on, and they do well, that's really what you have to realize."
Even though Greenblatt isn't an active bitcoin investor, his view about the leading cryptocurrency doesn't seem to be negative.
"People have tried to make a case for me for the various uses for bitcoin, or why I should stay. And I can't say I'm completely dismissive," he said.
"I'm saying, 'Gee, I really can't figure this out.' I have no basis on which to say it's going to go higher or lower."
He compared bitcoin to expensive art, saying some pieces can be highly valuable now, but perhaps not in the future.
"It's in the eye of the beholder," he said.
Bitcoin is still down 31% from its all-time high of around $69,000 in November, according to data fromCoinGecko.
Read more:A little-known prop shop manages more than $100 million of crypto. The firm's cofounder outlines his strategies for finding high-upside trades — and how his team identifies which tokens to target.
Read the original article onBusiness Insider || 3 Seriously Undervalued Stocks to Buy Before They Go Sky High: It increasingly appears that a bubble has burst. All the stocks that were running hot during the pandemic have cratered since last November. The end result is that there are a number of undervalued stocks that are nowgreat bargains.
Stay-at-home plays, SPACs, meme stocks, technology growth stocks, and shares of unprofitable innovative companies have all fallen big time over the past four months. Many of the most popular stocks of the past two years are down 50% or more. Some stocks, such as streaming giantNetflix(NASDAQ:NFLX) and connected fitness companyPeloton(NASDAQ:PTON) have lost all their gains of the past two years and are now trading below the levels they were at before Covid-19 arrived on North American shores.
With many analysts saying that the market bottomed in mid-March of this year, now appears to be a good time to take positions in some beaten down names before they run substantially higher.
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Here are three undervalued stocks to buy before they go sky-high.
• CrowdStrike Holdings(NASDAQ:CRWD)
• Nike(NYSE:NKE)
• Meta Platforms(NASDAQ:FB)
Source: T. Schneider / Shutterstock.com
The threat of cyberattacks has grown with Russia’s invasion of Ukraine. Suddenly everyone is talking about the need for both private and public sector entities to bolster their cybersecurity efforts, including U.S. President Joe Biden.
The commander in chief said on March 21 that intelligence reports indicate Russia is “exploring”cyberattacks on U.S. targetsas a means of retaliating for sanctions imposed on it for invading Ukraine. The president called on U.S. companies to immediately “accelerate efforts to lock their digital doors” and to remain vigilant against all manner of cyber threats.
“You have the power, the capacity, and the responsibility to strengthen the cybersecurity and resilience of the critical services and technologies on which Americans rely. We need everyone to do their part,” Biden said.
The warning helped to renew investor interest in cybersecurity stocks, chief among them CrowdStrike. Since Russian military troops crossed the border into Ukraine, CRWDstock has risen 35%. It’s been a stark turnaround for shares of CrowdStrike that were all but abandoned last fall, plummeting 50% from a 52-week high of $298.48 last November to a low of $150.02 at the start of March.
And even with the recent bump higher, CrowdStrike stock remains undervalued. Among 28 analysts who cover the company, themedian price targeton the shares is $256, implying a further 17% upside. Should a major cyberattack occur, CrowdStrike stock can be expected to run even higher.
Source: TY Lim / Shutterstock.com
Nike just proved the naysayers wrong with a strong quarterly print. Despite facing numerous problems, ranging from a boycott of its products in China to supply chain issues at home in the U.S., the Beaverton, Oregon-based company deliveredstrong fourth quarter resultsthat sent its slumping stock up 7%.
Nike reported that its sales in North America climbed 9% year-over-year, and net income for the three-month period ended Feb. 28 of $1.4 billion, or 87 cents per share, compared with $1.45 billion, or 90 cents a share, a year earlier. The results topped Wall Street profit estimates of 71 cents a share, according to Refinitiv data.
Nikefurther announcedthat its sales rose 5% to $10.87 billion in the quarter from $10.36 billion a year earlier, beating analysts’ expectations for $10.59 billion in revenue. For its current fiscal year, Nike reiterated its expectations for sales to grow mid-single-digits from the prior 12-month period. Analysts had forecast revenue to grow 5.3% this year.
Despite the better-than-expected financial results, NKE stock remains down 19% year to date. Analysts had been downgrading the stock leading into the surprisingly strong financial results, and are now having to again sharpen their pencils for upward revisions.
Themedian price targeton Nike stock is currently $165, implying 23% upside. However, most of those targets were issued before Nike’s most recent results came out on March 21.
Source: Blue Planet Studio / Shutterstock.com
Love it or hate it, there’s no denying that shares of the company formerly known as Facebook are extremely cheap right now. Meta Platforms currently has a price-earnings ratio of 15, which is incredibly cheap for a mega-cap technology company.
How cheap? Right now, Meta Platforms P/E ratio is lower than eitherMcDonald’s(NYSE:MCD), whose P/E sits at 24, orCoca-Cola(NYSE:KO), which has a P/E ratio of 27.
The average price-earnings ratio among technology stocks listed on the Nasdaq exchange is 25. This speaks to just how steeply FB stock has sold off this year on concerns of slowing online ad sales and thecompany’s pivotto focus on development of the virtual reality world known as the “metaverse.”
So far this year, FB stock has fallen 37%. As recently as last December, Meta Platforms’ stock was trading near $350 a share.
The pain began the day after Meta Platforms issued its most recent financial results. Missing analysts expectations across the board, and with weak forward guidance, Meta’sstock crashed 26%the next day, erasing $232 billion of market capitalization and making it the biggest one-daydrop in valuein the history of the stock market.
While bad for current shareholders, the steep decline provides an attractive entry point for new investors. And analysts seem to agree that Meta Platforms is seriously undervalued at current levels. Themedian price targeton the shares is $320, suggesting a nearly 50% increase over the next 12 months.
On the date of publication, Joel Bagloledid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post3 Seriously Undervalued Stocks to Buy Before They Go Sky Highappeared first onInvestorPlace. || Gryphon Digital Mining Ends Plans to Go Public Through Merger With Sphere 3D: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC) using 100% renewable energy, will not be going public via a reverse merger with publicly traded data management firm, Sphere 3D (ANY), the companies announced Monday. In a statement, Gryphon and Sphere said they had agreed to terminate the agreement "due to changing market conditions, the passage of time, and the relative financial positions of the companies, among other factors." The companies said they would continue to work together through what they termed a Master Services Agreement, with Gryphon generating "operating income through management of Sphere 3D's mining fleet," and Sphere 3D benefiting from "Gryphon's expertise in mining." Sphere 3D has been expanding its own mining operations and now has 1,000 miners running, the company said in the statement. Gryphon appointed a new CFO, Brian Chase, who previously worked at Garrison Investment Group and Blackstone Group (BX), said a Tuesday press release . The deal was announced on June 3 and initially slated to close in the third quarter of 2021. But the companies pushed back that timeframe to the fourth quarter due to a complicated regulatory approval process, and then again to the first quarter of 2022. Under terms of the agreement, Sphere said that it would have issued 111 million shares to Gryphon shareholders. Gryphon CEO Rob Chang, who previously served as chief financial officer of bitcoin miner Riot Blockchain (RIOT), would have become CEO of the combined company, which would have taken the Gryphon name. As a pending shareholder and operating partner of Sphere 3D, we look forward to the mutual success of both companies," Chang said in the Monday statement. Nasdaq-traded Sphere's share price closed down 1.8% on Monday. Story continues Read more: Questions Swirl Around NuMiners Best in Class Bitcoin Mining Rig UPDATE (April 5, 13:25 UTC): Adds news about CFO appointment in third bullet. || At Its All Time Lows, Now Is a Good Time to Buy Roblox Stock: Investors may blameRoblox(NYSE:RBLX) stock for continuing its decline onNasdaq’syear-to-date downtrend as tech stocks — even those on other exchanges — underperform. The mobile gaming platform, whichstarted trading publicly on March 10, 2021, timed its listing perfectly. Rookie investors who forgot that initial public offerings and direct listings favor company owners are losing a bundle.
Unless it reports accelerated growth, RBLX stock risks underperforming the markets for a while longer. Shareholders will need more patience betting on Roblox’s strong prospects. The company is a great buy as young gamers spend more time on the platform. But even after falling from the $141.60 high set in November 2021, the stock could get cheaper.
The market will remain irrational longer than some will expect. Stockholders will need to wait out the storm and keep their long position in Roblox. The bearish bet against Roblox is immaterial. The short float isa bit under 6%. This suggests that the market believes Roblox is strategically positioned in the gaming world, particularly in the metaverse.
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Meta Platforms(NASDAQ:FB) jump-started a massive rally when it announced a pivot into the metaverse. Speculators overpaid for RBLX in the last year, betting that Roblox’s platform would evolve, too. In reality, other gaming firms offer a higher level of entertainment.
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For example,Electronic Arts(NASDAQ:EA) has many sports games its customers want.Unity Software(NYSE:U) is developing Unreal Engine 5, the latest version of its game engine. Gamers get immersive movie-level graphics quality. Conversely, Roblox’s graphics are simplistic. As competitors invest heavily in a better platform, Roblox risks falling behind.
Fortunately, the company’s Chief Financial Officer, Mike Guthrie, said that itwill invest in the businessto get to a billion users. Before it gets there, consider buying Roblox stock at these greatly discounted levels.
On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postAt Its All Time Lows, Now Is a Good Time to Buy Roblox Stockappeared first onInvestorPlace. || (Crypto) Action! Indie Movie Studio Received $10M in Bitcoin for Shares in October: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Utah-based movie studio Angel Studios added $10.6 million in bitcoin (BTC) to its treasury through a stock sale in October, according toSecurities and Exchange Commissionfilings.
• “On October 18, 2021, the Company sold 1,685,392 shares of its Class A common stock at the average price of $9.28 per share. The Company received $4,999,993 in cash, and the equivalent value of $10,649,895 in bitcoin for the shares,” one of the documents said.
• A source familiar with the matter said venture capital funds Uncorrelated Ventures and Gigafund participated in the indie studio’s Oct. 18 sale. The source confirmed that Angel Studios sold equity for bitcoin but would not say who paid in the crypto.
• Angel Studios and Gigafund did not respond by press time. Uncorrelated Ventures declined to comment.
• Notable companies from MicroStrategy (MSTR) to Tesla (TSLA) have bitcoin on their balance sheets, but few U.S. corporations are known to have acquired it through a bitcoin-denominated share sale.
• Twitter account MacroScopenotedthat Angel Studios is backed by Gigafund, a venture capital firm aligned with Elon Musk through its founder “PayPal Mafia” member Luke Nosek and its investment in Musk companies.
• Angel Studios reported a $2.7 million impairment loss on its bitcoin at the end of 2021. || FOREX-Dollar towers at two-decade high on growth woes, Fed outlook: By Tom Westbrook
SINGAPORE, April 29 (Reuters) - The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China.
The latest uptick was thanks to the Bank of Japan, which sent the yen falling through 130-per-dollar for the first time since 2002 on Thursday when it reinforced a commitment to its super-low yield policy.
The yen was last at 130.72 per dollar after falling as low as 131.25 overnight following the BOJ's pledge to buy endless amounts of bonds daily as needed. The yen is down almost 7% in April, its worst month since Nov. 2016.
"Even though the BOJ had shown no sign of baulking on its commitment to its yield curve control policy, the market clearly still harboured suspicions that it might," said Rabobank strategist Jane Foley.
The uber-dovish decision set Japan miles apart from the Federal Reserve, where markets are priced for 150 basis points (bps) of hikes in just three meetings, and triggered a fresh rush of funds into the dollar ahead of all else.
The U.S. dollar index, which hit a two-decade high of 103.93 in the wake of the yen's tumble, was last at 103.53 and up more than 5.3% through April. If sustained, that would make for its best monthly gain since May 2012.
Weaker-than-expected quarterly U.S. growth data overnight proved little obstacle to the dollar's rise, and investors hardly adjusted their near-term interest rate bets.
The euro, meanwhile, dropped through $1.05 for the first time in five years on Thursday and was last clinging on at $1.0511.
"Like the yen, the euro is becoming more deeply undervalued against the U.S. dollar," said MUFG Bank currency analyst Lee Hardman.
"Market participants increasingly price in a widening divergence opening up between the performance of the euro-zone and U.S. economies and subsequently the outlook for European Central Bank and Fed policies."
The euro has lost 5% on the dollar in April and just over 7% on the dollar since Russia's invasion of Ukraine on Feb. 24.
The conflict, and especially this week's halt on Russian gas supplies to Poland and Bulgaria, has investors concerned about Europe's energy security, inflation and growth.
Similar fears have driven sterling to the 22-month low of $1.2412 it made overnight. At $1.2481 in Asia, the British currency is down 5% against the dollar in April, its worst showing since October 2016.
Drawn out COVID-19 lockdowns are also putting the brakes on an already-slowing Chinese economy, which has hit the yuan as well as commodity currencies.
The yuan has fallen to 18-month lows at 6.6400 per dollar and is on course for a record monthly drop of 4.3%.
The Australian dollar made a three-month low of $0.7055 overnight before recovering to $0.7123 in early trade on Friday as investors think Australia's monetary tightening cycle is set to begin as soon as next week.
The Aussie is down 4.8% for April. The New Zealand dollar is heading for its worst month in seven years, having lost 6.4% on the dollar, and was steady at $0.6498 on Friday.
Bitcoin held at $39,874.
(Reporting by Tom Westbrook Editing by Shri Navaratnam) || Daily Gold News: Thursday, Apr. 21 – Gold Trades Along the $1,950 Price Level: Gold Price Recap The gold futures contract lost 0.17% on Wednesday, Apr. 20, as it fluctuated following Tuesday’s decline of 1.4%. Gold retraced its recent advances after bouncing from the $2,000 price level. The market reacted to the streghtening U.S. dollar, among other factors. This morning the yellow metal is trading closer to the local lows, as we can see on the daily chart (the chart includes today’s intraday data): Precious Metals Price Action Gold is 0.8% lower this morning, as it is trading slightly below the $1,950 price level. What about the other precious metals? Silver is 2.1% lower, platinum is 1.3% lower and palladium is unchanged. So the main precious metals’ prices are lower this morning. Gold Fundamental Analysis and Economic News Schedule Yesterday’s Existing Home Sales release has been as expected at 5.77 million. Today we will get the Unemployment Claims and Philly Fed Manufacturing Index releases. We will also have speeches from the Fed chair Powell. The markets will continue to react to the ongoing Russia-Ukraine war news. Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days. Thursday, April 21 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index 10:00 a.m. U.S. – CB Leading Index m/m 11:00 a.m. U.S. – Fed Chair Powell Speech 12:30 a.m. U.K. – BOE Governor Bailey Speech 1:00 p.m. U.S. – Fed Chair Powell Speech 1:00 p.m. Eurozone – ECB President Lagarde Speech All Day – IMF Meetings Friday, April 22 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI 9:00 a.m. Eurozone – ECB President Lagarde Speech 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI 10:30 a.m. U.K. – BOE Governor Bailey Speech All Day – IMF Meetings Paul Rejczak Stock Trading Strategist Sunshine Profits: Analysis. Care. Profits. * * * * * Disclaimer All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. Story continues The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice. This article was originally posted on FX Empire More From FXEMPIRE: Gold Markets Continue to Find Buyers on Dips Australian Dollar Pulls Back Slightly Bitcoin and ETH Regain Traction, Why LUNA’s Rally Isn’t Over Yet France: Inflation-linked Bond Supports Funding Flexibility but With Higher Near-term Debt Costs The British Pound Gives Up Early Gains Against Japanese Yen E-mini Dow: Buyers Lightening Up Ahead of Powell Speech || 4 Cryptos to Buy as Bitcoin Surges Higher: • 1inch(1INCH) – A leading DeFi aggregator, which serves as a one-stop shop for decentralized finance investors
• inSure DeFi(SURE) – With growing number of hacks and scams, the project provides much needed insurance cover for investors
• Quickswap(QUICK) – As Polygon grows, the decentralized exchange will also witness upside in trading volumes.
• Klima DAO(KLIMA) – Carbon credit backed tokens that provide an attractive APY on staking
Source: WHYFRAME / Shutterstock.com
After struggling around $40,000, it finally seems thatBitcoin(BTC-USD) will break-out on the upside. Currently, the cryptocurrency trades above $46,000 and there are ample reasons to be bullish on Bitcoin. A rally for the leading cryptocurrency would also imply another possible bull market for altcoins. In a market that’s flooded with coins and tokens, investors need to pursue significant due diligence. This column will focus on four cryptos to buy that are non-speculative projects and are worth holding for the long-term.
Coming back to Bitcoin, El Salvador is already the first country that has adopted the cryptocurrency as a legal tender. There is also a possibility that few other smallercountries like Cuba and Panamawill accept Bitcoin.
The rise in geo-political tensions has also underscored the importance of digital assets. Ukraine hasembraced cryptocurrencies, more than ever before, in response to the war. Russia might also beconsidering accepting Bitcoinas payments for oil and gas exports.
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Overall, it seems clear that cryptos will stay and the adoption will increase globally in the next few years. In the altcoin space, there are crypto projects that are similar to investing in an early-stage company.
Let’s discuss four cryptos to buy that can be potential multi-baggers.
[{"1INCH": "SURE", "1inch": "inSure DeFi", "$1.6820": "$0.006565"}, {"1INCH": "QUICK", "1inch": "Quickswap", "$1.6820": "$227.17"}, {"1INCH": "KLIMA", "1inch": "Klima DAO", "$1.6820": "$21.30"}]
Cryptos to Buy: 1inch (1INCH)
Source: eamesBot / Shutterstock
With wider adoption of cryptos, decentralized finance is likely to get bigger in the coming years. Currently, thetotal value locked in decentralized financeis around $190 billion. One way to benefit from the growth in DeFi is through exposure to decentralized exchanges likeUniswap(UNI-USD).
Another good idea to benefit from the growth of DeFi is to consider exposure to quality projects that serve as DEX aggregators.1inch(INCH-USD) would top that list. It’s worth noting that the token traded at highs of $8.65 in October 2021. With a downside of 77% from highs, 1INCH looks attractive for accumulation.
The company has two key products. First, an app that serves as a tool for deepest liquidity, lowest slippage and best exchange rate. Further, the project has a wallet that’s a highly protected mobile app for DeFi operations.
Additionally, 1inch provides features that includes limit orders. It’s also worth noting that the app has bridges across various chains. In simple words, 1inch is a one stop-shop for all decentralized finance traders. As DeFi grows, the trading volumes will swell on the project.
Overall, 1INCH token looks attractive for multi-fold returns with an investment horizon of 12 months-24 months. It’s among the top non-speculative projects that investors can hold in the portfolio.
Source: WindAwake / Shutterstock
At a current market capitalization of $178 million, theinSure DeFi(SURE-USD) project is another name that’s worth considering. With a significant increase in the number of hacks and scams, the project has strong utility.
As an overview, the project claims to be the first DeFi insurance system. In order to avail the benefits of SURE token insurance, investors need to acquire the token with insurance being activated in seven days.
There are different levels of coverage. At the most basic level, an investorcan hold 2,500 SURE tokens. This provides an insurance coverage of up to $1,000 for a period of four months. At the diamond subscription level, holding 500,000 tokens would give investors a coverage of two years for a maximum amount of $140,000.
In addition to potential for token price upside, investorscan also stake SURE token for an APY of 60%. For a token with a strong utility, this seems attractive.
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I am also bullish on the projects long-term plans. Through 2025, the team has guided forentry into the traditional insurance space. This would include automobile, life, home ownership and travel insurance, among others. The project therefore has ample scope for expansion into a bigger addressable market.
Source: Marko Aliaksandr/ShutterStock.com
With the massive growth inPolygon(MATIC-USD), I would not hesitate in considering exposure toQuickswap(QUICK-USD) project.
As an overview, Quickswap is a decentralized exchange on the Polygon network. The exchange allows users on Polygon to trade through the liquidity pool.
QUICK token had surged to highs of $1,590 in April 2021. At current levels of $226, the token seems very attractive. Currently, the project has a fully diluted valuation of $240 million. However, the total value locked on Quickswap is $896 million. This implies a fully diluted valuation to TVL ratio of 0.27. Clearly, the project seems undervalued.
To elaborate further, Uniswap has a fully diluted valuation to TVL ratio of 4.6. On a relative basis, QUICK seems to have more upside potential from current levels.
In addition to providing token swapping, Quickswap also has some attractive farms. Investors can deposit QUICK tokens to earn anattractive APR on various participating tokens. Quickswap also provides incentive for liquidity providers whocan earn a 0.25% fee on all tradesproportional to their share of the pool. As trading volumes on Quickswap increase, liquidity provider returns are likely to get attractive.
Overall, QUICK token has witnessed a significant correction from all-time highs. With renewed upside in the crypto space, it’s among the top cryptos to buy for healthy returns and passive income.
Source: LuckyStep/ShutterStock.com
KLIMA(KLIMA-USD) token is another name among cryptos to buy with a focus on environmental change. Recently, the token touched lows of $10.7. The token has already surged by over 100% from lows. Accumulation can be considered even at current levels.
As an overview, Klima is a decentralized autonomous organization with each token being backed by real carbon assets. As of February 2022, Klima DAO hadmore than 16 million carbon tonnes in its treasury. This had a value of $64 million.
From an investment perspective, the DAO sells bonds and distributes profits to Klima token holders. The profits to holders come in the form of staking and rebase. Currently, Klima tokens can bestaked at an APY of 942%. The minting of each KLIMA token is backed by at least one ton of carbon offsets.
Given the aggressive dilution, there is a case for Klima trending lower. However, investors stand to gain with healthy growth in carbon tonnes and the price upside in the carbon credit market.
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Overall, Klima DAO has a vision ofbecoming a global carbon currency. The project seems attractive with a long-term investment horizon.
On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.
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The post4 Cryptos to Buy as Bitcoin Surges Higherappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 29862.92, 30425.86, 28720.27, 30314.33, 29200.74, 29432.23, 30323.72, 29098.91, 29655.59, 29562.36
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-04-07]
BTC Price: 253.18, BTC RSI: 47.19
Gold Price: 1210.60, Gold RSI: 57.14
Oil Price: 53.98, Oil RSI: 63.12
[Random Sample of News (last 60 days)]
SEO And Marketing Practitioner Michael Taggart Announces Appearance At Glazer Kennedy Insider's Circle Super Conference 2015: BOISE, ID / ACCESSWIRE / March 24, 2015 / Michael Taggart, a marketing mentor and SEO expert who has stated he can help startups create 7 figures in only 12 months, has recently announced that he will appear at the Glazer Kennedy Insider's Circle (GKIC) Super Conference 2015. This will be one of the many events where Taggart, who is also known as Michael X, has been requested to speak in regards to his work with marketing, SEO, and press releases. Through the various conferences and other assemblies where Michael Taggart talks press releases , he has grown an audience who access his training regularly. Each year, training on press releases with Michael Taggart averages tens of thousands of marketers who are looking to learn more about advancing their search engine optimization skills and targeting a larger volume of traffic for e-commerce. The GKIC Super Conference, which takes place over the dates of April 29th to May 2nd, with a bonus day on May 3rd will be hosted in Minneapolis, Minnesota. Speakers such as Mike Stewart, Jeff Johnson, Lee Milteer, and Dean Jackson will also be speaking alongside Michael X, who has been hailed by the GKIC team as, "The Coolest Marketer In America". The conference coordinators had the following to say about Michael X in regards to his marketing efforts: "One of the most renowned marketers in the world, especially in terms of local search marketing and mobile SEO, his interests include Bitcoin and crypto assets, giving him a reputation for technologically advanced knowledge, and the title of "the coolest marketer in America." Some of the other conferences that have included press releases with Michael Taggart are the 7 Figure Speaking Empire, the Traffic and Conversion Summit, and SEO Rockstars, among many more. The Michael Taggart release press advantage can be enjoyed by new and upcomers in the internet marketing world, and he has made it clear through his many social media platforms and company websites just how big of a difference it can make when Michael Taggart talks press releases. He has said the following about what his goal is in terms of SEO training for startups and entrepreneurs: Story continues "Having been in the SEO world as a practitioner, teacher, and speaker on the subject, my goal has been to show people how to get faster results and more exposure in less time by doing things right." At first glance, the Michael Taggart release press advantage seems to be similar to that of other marketing training in this niche, but the strategy of using press releases with Michael Taggart include a number of incentives that competitors don't seem to offer. The differences can be seen in the many client testimonials available on Michael's Adventure Marketing company site, as well as various other online resources designed and maintained by Michael and his team. For questions or concerns regarding this press release or for more information on Michael X Marketing, please use the following contact information to get in touch: Company Name: Michael X Marketing Contact Name: Michael Taggart Phone Number: 1 (208)908-0626 E-mail Address: [email protected] E-mail Address: 5430 Misty Ridge Way, Boise, Idaho 83713 SOURCE: Michael X Marketing || UK Could Become Bitcoin Hub With New Regulations: The UK treasury pushed digital currencies one step closer to mainstream adoption this week after releasing a report detailing plans to prevent money laundering scams that operate using cryptocurrencies. The proposedregulationswould put the UK at the center of the digital currency revolution as they are likely to attract businesses dealing in bitcoin to the region.
UK Interested In Cryptocurrency
Earlier this year, theBank Of Englandreleased a research paper detailing the benefits of a central bank issuing a digital currency. The paper suggested that the BOE was considering the possibility of regulating digital currencies alongside the pound and demonstrated England's growing interest in cryptocurrencies.
Bitcoin Businesses Cheer Regulations
UK Chancellor George Osborne's budget package included rules that will help regulate digital currencies and protect against money-laundering scams. While many say the lack of regulation in the cryptocurrency world is part of its draw, others say mainstream adoption is impossible without some regulatory intervention.
Related Link: IBM Working On A 'Bitcoin Without The Bitcoin'
Businesses dealing in bitcoin have found it difficult to engage with banks as the industry still carries a great deal of risk that financial institutions are not willing to take on; the UK's regulations could help change that.
Treasury Says Blockchain Has Potential
The UK Treasury also noted the potential for innovation in other sectors using blockchain, the ledger-like technology that cryptocurrencies run on. Like most bitcoin enthusiasts, the UK noted that the ability of blockchain to carry out real-time transactions without the costs associated with a middle man could make it a useful tool in a range of industries outside the financial sector.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Alternative DNotes Focuses On Banking Solutions And Stability While Venture Capital Investment Continues At Record Breaking Pace: Bitcoin Volatility May Have Resulted In A Slower Adoption Of The Currency By Large Merchants, But Venture Capital Funding Continues At Record Breaking Pace. Meanwhile, DNotes Remains One Of The Most Stable Cryptocurrencies With Focus On Banking Solutions And Long Term Appreciation, Attracting New Investors . ILLINOIS, USA / ACCESSWIRE / March 15, 2015 / There is an inherent tendency for promising emerging technologies to be deceptive at the formative stage, especially when perceived to be highly disruptive. According to DNotes Co-Founder Alan Yong, a well regarded pioneer and visionary during the early days of mobile computers, this has clearly been the case with Bitcoin , despite often being described as the greatest technology innovation since the Internet. The Bitcoin space has received a staggering investment of almost $500 million from Venture Capital funding in 2014 alone, followed by over $200 million, so far this year. Incumbents, who are the most direct targets of the disruption, often discount Bitcoin as a threat because of its explosive volatility and poor track record as a store of value. Bitcoin as a medium of exchange has not gained meaningful traction either. In such an environment, the immensely promising Bitcoin with the potential to be the greatest technology revolution of our generation can be quite deceptive; causing many to look back a few years from now wondering how they could have missed the early promising signs. DNotes can best be characterized, as a second generation Bitcoin alternative digital currency. It objectively studied Bitcoin's strengths and weaknesses as well as threats and opportunities. DNotes was created on February 18, 2014 with an objective to meet the full functions of fiat currency as a unit of account, store of value and medium of exchange within three years. It decided to take a very different path since day one in building a trustworthy stable digital currency with reliable long term appreciation. Story continues Central to DNotes long term strategic plan is the creation of highly scalable building blocks, as the foundation of its own ecosystem. Those strategic building blocks include CryptoMoms; a currency neutral site dedicated to encourage women participation, DNotesVault; a free secure storage for DNotes' stakeholders with 100% deposit guarantee with verifiable funds, and CRISPs; a family of Cryptocurrency Investment Savings Plans for everyone worldwide. The core mission of CRISP is to make the savings opportunity available to everyone; from the unborn to the most senior; from the unbanked to the super rich. The opportunity for anyone to participate irrespective of financial standing, coupled with combined charity efforts will bring about much needed financial freedom for millions worldwide. Yong explained that, "winning strategies are most effective when executed flawlessly in the right sequence and at the most opportune time. Until there is a stable digital currency everyone can understand, trust and feel comfortable about, attempts to promote it as a medium of exchange will cost more harm than good. In the case of DNotes, the medium of exchange function will not kick until its third year; at which time many small business owners and their employees are anticipated to be DNotes stakeholders and participants in one of its cryptocurrency savings plans." DNotes' ecosystem is strategically linked and systematically executed towards the ultimate goal of mass consumer and mass merchant adoption of DNotes as a medium of exchange in global commerce. As a digital currency it is equal to and better than fiat currency and as a technology it holds enormous power to cause a quantum shift with world changing implications. DNotes is a cryptographically created digital currency based on a novel decentralized peer to peer model, where trust is replaced by mathematical algorithms, eliminating the need of an intermediary such as a bank or an automatic clearing house. Assets of value such as Bitcoin, DNotes, and other digital assets can be sent and received in minutes anytime, anywhere, worldwide without the oversight of any central authority. It takes as little as two simple cell phones, or computers with an internet connection to send and receive funds. It does not require, transmit, or store any personal information and the two parties do not need to know or trust each other to successfully complete the transaction at little to no cost. The world we live in has always been dynamic, constantly reacting and adjusting to the needs for change. What we could be underestimating this time is the massive potential for job and wealth creation. We are already living in a hyperconnected world with super-computing power at our finger tips. Over five billion people will be online equipped with significantly more powerful computing power by 2020. Technologies have always been ahead of regulations. This time around the speed of an accommodating regulatory environment to promote rather than to stifle the greatest innovation since the Internet could be the greatest competitive edge among nations. Bitcoin as a digital currency coupled with the immense power of the Blockchain is the solution to many global problems confronting mankind today. There may not be another global opportunity of this magnitude a single nation can exploit to gain an enormous advantage. To trade Bitcoin with DNotes please go to: https://poloniex.com/exchange#btc_note For more information about us, please visit http://dnotescoin.com/ Contact: Alan Yong [email protected] DNotes SOURCE: DNotes || Yoox Merger With Net-a-Porter Creates A Force To Be Reckoned With: Online retail has traditionally been associated with low cost, but Italy's Yoox SpA (OTC: YXOXF ) and fashion website Net-a-Porter have proven that there is also a market out there for online luxury retail. Now the two have decided to join forces and cement their position as a major player in the quickly growing industry. On Tuesday, Yoox announced its plans to buy high-end fashion website Net-a-Porter in an all stock deal that will create Yoox Net-a-Porter Group, estimated to be worth around $2.86 billion. The new company is expected to generate over $1.4 billion worth of revenue per year. Luxury Moves Online The merger comes at a time when online retail is taking off and luxury goods consumers are beginning to turn to the web rather than visiting brick and mortar stores. Its estimated that about 40 percent of the world's luxury brands can't be found online, but that statistic is slowly changing as high-end department stores like Neiman Marcus Group and Saks Inc establish more of an online presence. Related Link: Can Tidal Compete With Existing Music Streaming Services? The Best Of Both Worlds Retailers like Amazon.com, Inc. (NASDAQ: AMZN ) and Alibaba Group Holding Ltd (NYSE: BABA ) have become increasingly interested in the fast growing luxury market, but Yoox and Net-a-Porter have the advantage of experience on their side. Yoox is responsible for the technology behind several high-end designers' websites and runs three designer clothing retail sites of its own, while Net-a-Porter's business focuses exclusively on selling designer clothing and footwear. Yoox founder and CEO Federico Marchetti told the New York Times that the merger will allow both companies to benefit from the other's strengths. Net-a-Porter is well known for its editorial content and ability to engage customers, something that Marchetti said Yoox is lacking. See more from Benzinga TV For Babies Expanding Despite Controversy Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution Verizon To Offer Original Programming © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Texas Bitcoin Conference Hackathon and Rivetz Boost Developers to Augment Android's Blockchain Capabilities: AUSTIN, TX--(Marketwired - Mar 26, 2015) - Texas Bitcoin Conference --Rivetz(http://rivetz.com/) today announced its partnership with the Texas Bitcoin Conference's hackathon (http://texasbitcoinconference.com/) to provide Rivetz-enabled Android smartphones and technical expertise to the participating teams. The Rivetz SDK provides developers with the tools to leverage the embedded security capabilities in Android phones for any of the proposed projects. Rivetz also has agreed to contribute a provisioned Galaxy Note 4 and $10,000 in Rivetz services to the winning team.
The global focus on cyber security and identity creates great opportunities for many startup ideas and features. Blockchain technology is able to provide trusted execution on devices for identity management, providing a strong, secure foundation for innovation.
"We are pleased to have the Rivetz team participating in the hackathon and look forward to the great innovation and sleepless nights," said Paul Snow, the conference's president and organizer. With Rivetz technological backing, hackathon developers will be able to rest easy knowing that the conference's security cannot be compromised.
"So often, security is an afterthought. We are pleased to participate in the hackathon to show how security can be built in," said Steven Sprague, CEO of Rivetz. "The market is ready for innovative solutions which leverage the advanced security capabilities of modern hardware."
The Texas Bitcoin Conference will take place in Austin, Texas, at the Moody Theater, home ofAustin City Limits Live. The hackathon will take place from March 27 to 29, 2015.
About RivetzRivetz Corp. is focused on solving problems associated with consumers' relationships with financial and other online services. Rivetz provides a safer and easier-to-use model for all users to protect their digital assets and online transactions using hardware-based device identity. The device plays a critical role in automating security and enabling the controls that users need to benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. For more information, visitwww.Rivetz.com.
All product and company names herein may be trademarks of their registered owners. || This App Pays You in Bitcoin Based on the Intensity of Your Workout: The Fitcoin app in action (Alyssa Bereznak/Yahoo Tech). AUSTIN, Texas If the 21st-century tabloid celebrity has taught us anything, its that having a hot body can pay off. Now, a tech studio has interpreted that modern-day lesson quite literally, in the form of an app that rewards you with Bitcoin, based on how hard you work on the treadmill. The technology, cleverly named Fitcoin , is the creation of Chaotic Moon Studios , an Austin-based design company thats known for pulling stunts during the citys annual South by Southwest festival . Last year, for instance, designers at the lab programmed a drone to shock one of their interns with a stun gun. It works like this: After creating an account for your Bitcoin repository, you download the iOS Fitcoin app, enter in your basic information, and sync it to your fitness tracker. Currently, Fitcoin only works with fitness trackers that both measure heart rate and offer public access to their software. These requirements reduce your tracker choices down to just three wearables: t he Mio heart-rate monitor , the much anticipated Jawbone UP3 , and a new Austin-based fitness tracker called Atlas . When you sync your band to the Fitcoin app and start your workout, itll automatically begin recording the length of your activity and the level of your heart rate. The algorithm within the app then triangulates those stats to determine how much energy youre expending, and ultimately, how much thats worth in Bitcoin. Related: What Is Bitcoin, and Why Do So Many People Prefer It? Its a really interesting platform play application and service layer, Ali Madad, the Chaotic Moon Studios creative director, said during a demonstration. [Its] accessible. Its not about cypherpunks or overthrowing the government. Its something that you would use every day. How much is your average workout worth in Bitcoin? During a demo at the Chaotic Moon offices on Saturday afternoon, designer Grant Nicol hopped on a treadmill and worked his heart rate up to an even 115 beats per minute. He wore a Mio band on his wrist, and one of Chaotic Moons decidedly Health Goth Fitcoin T-shirts. Story continues After spending about three minutes and 40 seconds running, Madad directed us to the app displayed on Nicols iPhone to see how much hed made. In three minutes and 40 seconds, hed amassed about 5 cents. Chaotic Moons Grant Nicol, demonstrating the Fitcoin app at the Chaotic Moon studios. (Alyssa Bereznak/Yahoo Tech). Those measly 5 cents, of course, come from a stash of Bitcoin that Chaotic Moon Studios bought to test the Fitcoin app internally. The studios team had just three months to develop the concept partially inspired by an episode of Black Mirror and its still only being tested by members of the team. Ultimately, Chad Derbyshire, director of marketing at Chaotic Moon Studios, hopes that Fitcoin will be used to form its own breed of cryptocurrency a type of online money that has allowed for such offshoots as Coinye (formerly known as Coinye West) and Dogecoin . He imagines that individual companies could award dedicated athletes with their own digital money, based on their fitness achievements. My insurance is deducted from my bank account every month, same amount of money, he told Yahoo Tech. But if I have a certain level of activity, maybe its redefined. What if it goes down? Specifically, Derbyshire imagines that this technology would be particularly attractive to one client of the studio: Adidas. He imagines that the fitness apparel company could offer special access to merchandise that you could only purchase with the cryptocurrency you earn using the Fitcoin app. Adidas can say: These are proprietary shoes that only Bitcoin users, or only Fitcoin users, or only AdidasCoin users can get based on this currency. So, beware: Kanye West could very well make you sweat for his next line of limited-edition sneakers . Follow Alyssa Bereznak on Twitter , or email her . || Is IBM Developing a Bitcoin Featured Payment System? - Analyst Blog: Reportedly,IBM CorporationIBM is going to adopt blockchain — the technology behind Bitcoin — to create its own digital cash and payment system for major currencies. However, Bitcoin, currently available only in the U.S., has been heavily criticized for its cryptocurrency feature.
However, the IBM move failed to impress investors and its shares closed 2.34% ($3.70) lower at $154.28 on Friday.
Although not popular among the masses, cryptocurrency is likely to be the next revolutionary change in the digital payment system. Cryptocurrency, pioneered by Bitcoin to be used in the commercial space, does not require any central regulating authority and the transactions take place between the involved parties only. It uses military-grade cryptography to protect users against fraud.
Payments can be made via smartphone apps or their desktop versions. This is generally used for transferring funds electronically and does not require a credit card or PIN.
While most of the companies such as Microsoft Corp. MSFT, eBay Inc. EBAY and Expedia EXPE have accepted the Bitcoin platform, IBM plans to expand the use of blockchain technology beyond Bitcoin. If rumors are to be believed, IBM is working with the Federal Reserve to explore this new technology to aid cross-border cash payments. If central banksback IBM’splans, then it should be able to build the secure and scalable infrastructure for the project.
However, security, one of the reasons behind the creation of this digital platform, remains a major concern in adopting cryptocurrency and deters further development in this field. In March last year, exchange market Flexcoin blacklisted Bitcoin following the theft of 896 Bitcoins, then worth $625,000. Bloomberg also stated that Bitcoin was the worst performing currency in 2014.
IBM’s project is at the nascent stages and it is yet to be seen how the company addresses issues about money-laundering and criminal activities. Though the company has not revealed much on its plans, it is expected that this Zacks Rank #3 (Hold) company would work with the central banks to secure its platform.
According to reports, the coins issued over the IBM platform will form part of the money supply. Instead of real money, these coins would be linked to a user’s bank account and used as token. The account will probably be integrated with the proposed digital currency ledger through the wallet software.
We believe that such innovations by tech giants like IBM would address issues related to digital currency payment systems and provide a better alternative that can fully replace federally issued money.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportINTL BUS MACH (IBM): Free Stock Analysis ReportEXPEDIA INC (EXPE): Free Stock Analysis ReportMICROSOFT CORP (MSFT): Free Stock Analysis ReportEBAY INC (EBAY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin's Jail Stint Creates New Currency Offering: Dubbed "Bitcoin's First Felon" by the press, Charlie Shrem was locked up this week to complete a two year sentence for his involvement in the Silk Road online black market.
Shem landed himself in prison for knowingly selling bitcoins to users of the site, but he says his sentence has done little to take his mind off of his bitcoin obsession.
The Charges
Shrem was arrested on January 26 in the JFK airport, where he was charged with selling more than $1 million worth of the digital currency to people he knew were using it to break the law.
Shrem admitted to his part in Silk Road and plead guilty to all charges. However he has remained passionate about bitcoin saying, "Bitcoin is my baby. It's my whole life. It's what I was put on this Earth to do."
Bitcoin In Jail
It seems he will be taking that hobby behind bars— on March 30, the day he reported to the Lewisburg Federal Prison Camp in Pennsylvania, Shrem wrote ablog posttitled "Bitcoin For Prison."
In the post, he details how bitcoin would be a viable currency system for prisoners, even without an internet connection.
Related Link:Rakuten Brings Bitcoin On Board
Mackerekcoin
Shrem noted that although part of what makes bitcoin so exciting is the fact that it can be used online, an offline version would prove an interesting experiment and would be a great way to demonstrate how the technology actually works.
In the prison version, inmates would keep a physical ledger book that would act as blockchain. All of the transactions recorded there would be available for review by users.
Because cans of mackerel tend to be a commonly traded item in prison, Shrem has dubbed his prison currency Mackerelcoin, or MAK.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bit-X Financial Announces Exclusive Bitcoin Exchange & Services Agreement with Hong Kong Based ANX: VANCOUVER, BC / ACCESSWIRE / April 1, 2015 / Bit-X Financial Corp. (OTCQB: BITXF) today announced that it has executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX. The proprietary ANXPRO trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the worlds largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management. Under terms of the agreement, ANX will develop a white-label crypto-currency exchange utilizing ANXPRO's world-class proprietary trading platform. The agreement includes technical, development and support services to Bit-X and its registered users worldwide. "The ANXPRO proprietary trading engine is a critical component to our business," said Brad Moynes, President of Bit-X Exchange. "This agreement with ANX enables us to instantly offer crypto-currency services to our customers utilizing a proven technology platform and relying on the operations of a well-established brand and a very experienced team." Functionality of the Bit-X Exchange will include deposit and withdrawal services for multiple fiat currencies, payment processing via Vogogo Inc. services, trading exposure to Bitcoin, Ripple, Litecoin, Dogecoin and Stellar while leveraging the established global liquidity order book; developed and managed by ANX. "This is a win-win for crypto-currency exchanges and the eco-system as a whole," said Dave Chapman, COO of ANX. "We are delighted that Bit-X has selected ANX as their preferred white-label provider by surpassing their technology and operational requirements." In addition to the development and management of the Bit-X Exchange, ANX will notify its19,750+ existing North American users to instantly migrate to the new Bit-X Exchange which has a go live date within 60 days. ABOUT BIT-X: Bit-X Financial Corp is a Vancouver based Company listed on the OTC.QB under the trading symbol BITXF. The Company has announced an exclusive agreement with Hong Kong based ANX to develop a crypto-currency exchange and to provide ongoing technical, development and support services to registered users worldwide. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Story continues ABOUT ANX: Founded in June 2013, ANX has grown into one of the most used Bitcoin exchange platforms worldwide. ANX is one of the largest and most diverse Bitcoin exchanges in the world. It is a pioneer and leader in the crypto-currencies industry. ANX's achievements to date include introducing the world's first multi-currency online Bitcoin exchange platforms (ANXPRO.COM & ANXBTC.COM), the world's 3rd Bitcoin ATM machine, and a full-featured ANX Vault mobile app for crypto-currencies. ANX recently acquired troubled Bitcoin exchanges Norwegian based JUSTCOIN.COM and US based COINMKT.COM to expand into the European and North American markets. ANX was one of the first firms specializing in crypto-currencies to be issued with a Money Service Operator (MSO) license and prides itself on its transparency and regulatory compliance. The founding partners have financial markets, management consulting, banking technology and compliance backgrounds. CORPORATE CONTACT INFORMATION: Bit-X Financial Corp 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.bitxfin.com Media inquiries: Bit-X Financial Corp Brad Moynes [email protected] ANX Jess Chan [email protected] To view this press release as a PDF file, click onto the following link: public://news_release_pdf/Bit-XApr12015.pdf SOURCE: Bit-X Financial Corp. || New Matter raises $6.5M to deliver on its crowdfunded 3D printer: New Matter’s MOD-t, one of the hit crowdfunded 3D printers of 2014, is nearing its shipment day, and the startup announced today it will finish out development and production with the help of $6.5 million in Series A funding. Alsop Louie Partners led the funding round. First Round Capital, Dolby Family Ventures and frogVentures also participated. CEO Steve Schell said New Matter will use the funding to hire more people and firm up a product and manufacturing line that will allow the company to deliver its 3D printer to its 2,000 Indiegogo backers and anyone who bought it after the campaign’s close. New Matter expects the MOD-t to have all the features promised on Indiegogo, but will announce a small delay in shipping this week, Schell said. New Matter is still focused on delivering a low-cost printer (likely just below $400 at retail) that’s simple to use and paired with a library of 3D printable models, Schell said. While other inexpensive printers have continued to enter the market, Schell said New Matter continues to see confirmation it is on the right track. “We see more and more competitors coming into existence,” Schell said. “It’s healthy competition; it shows it’s a market of interest. I still feel we’re offering the most compelling product.” Image copyright New Matter. Related research and analysis from Gigaom Research: Subscriber content. Sign up for a free trial . A market analysis of emerging technology interfaces The legal challenges and opportunities for 3D printing Bitcoin: why digital currency is the future financial system More From paidContent.org Security incubator with ties to Israeli military forms with $18M View comments
[Random Sample of Social Media Buzz (last 60 days)]
$263.50 at 16:45 UTC [24h Range: $249.00 - $270.00 Volume: 20823 BTC] || Prove all things. Hold fast that which is good!
View detail pg. Double-Opt-In [email protected]
Dep $2.00 BTC
http://www.classifiedads.com/business_opportunities-ad158553841.htm#sthash.Rmkc64Fg.dpuf … || 2015年3月3日 04:00:08
btc_jpy
直近[last]:32215円
買[bid]:31720円
売[ask]:32215円
高値[high]:32215円
安値[low]:30580円
API by etwings || 1 #BTC (#Bitcoin) quotes:
$248.23/$248.89 #Bitstamp
$246.73/$247.00 #BTCe
⇢$-2.16/$-1.23
$249.81/$249.94 #Coinbase
⇢$0.92/$1.71 || 2015年3月9日 08:00:01
BTC_MONA
買[bid]:1851.85185185MONA
売[ask]:1999.00000000MONA
API by もなとれ || 2015年2月18日 02:00:02
BTC_MONA
買[bid]:3500.00000000MONA
売[ask]:3663.00366300MONA
API by もなとれ || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $54.79 #bitcoin #btc || #Bitcoin last trade
@bleutrade $203.01
@btcecom $227.77
@cryptsy $236.00
Set #crypto #price #alerts at http://AlertCo.in || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $60.64 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000007
Average $2.1E-5 per #reddcoin
03:00:01
|
Trend: down || Prices: 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-10-30]
BTC Price: 6130.53, BTC RSI: 67.07
Gold Price: 1274.10, Gold RSI: 43.77
Oil Price: 54.15, Oil RSI: 68.69
[Random Sample of News (last 60 days)]
'Not scared': Australian regulator takes aim at country's powerful banks: By Swati Pandey and Paulina Duran SYDNEY (Reuters) - Australia's corporate regulator took aim at the nation's four major banks, saying the powerful institutions "with a lot of hubris" aren't used to being taken on by regulators who have stepped up scrutiny of the scandal-hit sector. Australia's highly profitable banks have been hit by a series of scandals including allegations of benchmark rate-rigging and, in the case of Commonwealth Bank of Australia, alleged money-laundering breaches. "When I became chairman I decided we need to build a war chest to take on big cases...I am not scared of anybody," Australian Securities and Investment Commission (ASIC) Chairman Greg Medcraft said at a Reuters Newsmaker event in Sydney, as he prepares to step down in November. One of the emerging problems in the sector is loan fraud in the mortgage market, Medcraft said. But it has been out-of-cycle mortgage rate changes that have generated the biggest public and political outcry, as home-owners struggle to meet high repayments with modest wages growth. The banking sector should start repairing its reputation by offering variable mortgages at a set level above the cash rate rather than exposing customers to irregular pricing changes, he said. "I would think the biggest thing the banks could do to win the trust of Australians would be to at least offer the option of a variable rate mortgage priced over something like the cash rate." Australian regulators have been pushing banks to tighten mortgage lending standards on worries a debt-fuelled bubble and bust in the country's property market could destabilise the financial system and hurt the broader economy. Medcraft censured the banks for increasing home loan rates for existing customers while offering discounts to entice new borrowers. Representatives of Australia's four biggest retail banks were not immediately available to comment on Tuesday. The head of the Australian banking lobby Anna Bligh said offering such a product would "add considerable risk into the banking system" due to the volatility of banks' cost of funding. Story continues Medcraft said improving the culture and conduct of the biggest banks was one of his "unfinished businesses" as he prepares to step down in November. END TO PRIVATE DIGITAL CURRENCIES? Medcraft was not surprised that China had started to clamp down on private cryptocurrencies, which included last week's move to ban so-called "initial coin offerings", or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects. He said that while it wasn't the job of the Australian regulator to ban private digital currencies, he added it was becoming problematic. "It's classic non-cash economy in digital form," he said. "If you don't cut it off quickly, it will flower." "Having something that is issued by the state is going to be something more likely in the future than essentially a cryptocurrency." Bitcoins are not regulated in Australia as a financial product. The government recently proposed new laws to bring in bitcoin providers under the regulatory fold for the first time ever. U.S. MARKET PUSH Australia would make a renewed push to integrate its capital markets with the United States, Medcraft said, opening up the country's A$2.3 trillion ($1.85 trillion) retirement savings to American companies while giving Australians access to the deepest capital market in the world. "What Canada has is what we want...which is mutual recognition," he told the conference, adding he would raise the issue the next time he met the U.S. Securities and Exchange Commission chair. Australia and the United States signed a cooperation agreement to mutually recognise each other's laws for raising capital in 2008, but little has come from it. Local media has speculated that Medcraft will be heading to Paris when he finishes up at ASIC in November, likely as a special adviser to the OECD secretary general. The former investment banker lived in Paris for three years in the late 1980s when he worked for Societe Generale. "It would be a very interesting area wouldn't it," Medcraft told Reuters, without elaborating. ($1 = 1.2427 Australian dollars) (Reporting by Swati Pandey and Paulina Duran in SYDNEY. Additional reporting by Tom Westbrook. Writing by Jonathan Barrett.; Editing by Shri Navaratnam and Jacqueline Wong) || Should You Sell Everything and Buy Bitcoin Right Now?: Should investors sell everything — and, no, not just stocks and bonds — buteverythingand buy bitcoin? The obvious answer is a resounding “no,” but it makes you wonder what the potential is for cryptocurrencies and bitcoin prices.
Source: Shutterstock
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For the record, selling everything and buying bitcoin isprecisely what one family did. Didi Taihuttu, his wife and three children are all in it together. They’ve stuck with the so-called “strategy” for a few months and, so far, don’t regret it. They sold their cars, motorcycle and, yes, even their house and put it all in bitcoin. Some family members have called the Taihuttus crazy — and I agree with them!
Essentially, Mr. Taihuttu believes we’re still in the early stages of a currency revolution. “Money has to evolve, and it’s evolving now to cryptocurrency,” he says.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While I wouldn’t recommend following directly in his footsteps, is Taihuttu right about currency evolution?
Click to Enlarge
Bitcoin is roughly six times as volatile as the S&P 500 — you can use theSPDR S&P 500 ETF Trust(NYSEARCA:SPY) for a close measure. That’s assuming the index’saveragevolatility, not the historically low volatility we’ve seen so far this year. Heck, the markets haven’t had a 5% correction inmore than a year, or even a 3% correctionin almost 8 months.
For a refresh on bitcoin prices, remember that they began the year at about $1,000. Now, though, the cryptocurrency is trading above $5,300. No big deal, just a casual 475% gain so far this year. Too bad Taihuttu didn’t sell everything last year!
While those gains are astronomical — and that’s not considering the near-47,000% return it’s had over the last five years — it masks the volatility bitcoin has been marred by as well. It fell more than 20% in two weeks in January and more than 25% in two weeks in March. On Sept. 1, bitcoin prices were near $4,950. Sept. 14? Bitcoin prices were at $3,250, a fall of 34%.
The bitcoin price chart has been bonkers, but to its credit and the credit of the bulls, it’s been sharply higher all year. Also to bitcoin’s credit, it’s not themost volatilename around. For example, the ethereum price chart completely lost its bottom, as the cryptocurrency plunged from $300 to a dime in a flash crash earlier this year.
If I knew that I wouldn’t be here. Because it can only be mined in limited quantities, there’s actual supply/demand metrics and a sort of “scarcity” with bitcoin. In that sense, it’s like gold. However, unlike gold, it doesn’t have thousands of years of historical significance — nor is it tangible.
I don’t know that bitcoin will change the world, but I also don’t think it’s the fraudJPMorgan Chase & Co(NYSE:JPM) CEO Jamie Dimon has called it. Fundstrat’s Tom Lee — who has been a total stud on the stock market over the last few years — said bitcoin prices could race to $20,000 by 2020.
Nowthat’sa bold call.
Right now, it just seems to be a situation of “who’s willing to pay more?” I don’t like being in those situations. But maybe I will prove to be the broke loser without any bitcoin in my virtual pockets. The wayVisa Inc(NYSE:V) andMastercard Inc(NYSE:MA) are pushing the world from cash and check to debit and credit, maybe 20, 30 or 50 years from now, bitcoinwillbe the currency of choice. Maybe itwillreplace the U.S. dollar as the staple of commerce. I know someone like my dad would never embrace bitcoin, nor would plenty of others. But younger generations will be more open, I’m sure.
If you find yourself heading to Alphabet Inc (NASDAQ:GOOGL, NASDAQ:GOOG) and Googling “how to buy bitcoin,” you should probably do some more research before finding a broker. Chinese regulations have smacked the cryptocurrency around quite a bit. Further regulations could cause similar short-term pains, especially as the U.S. and other countries start to embrace bitcoin.
The good news, though? It’s becoming regulated. Regulated markets are safer for their participants and while it can be painful in the short term, it may be the ticket to long-term gains.
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So, I can’t say that in 25 years we’ll be orderingMcDonald’s Corporation(NYSE:MCD) viaApple Inc.(NASDAQ:AAPL) iPhones and only paying with Bitcoin. But I don’t think it’s going away any time soon, either.
I’m not sure how long Taihuttu plans to live the bitcoin-only lifestyle, but I wish him luck. So far, he’s up on his move.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell held a long position in V and MA.
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The postShould You Sell Everything and Buy Bitcoin Right Now?appeared first onInvestorPlace. || Coinbase is launching instant purchases and ditching the 3-5 day wait period: Coinbasejustannouncedthat users can instantly purchase cryptocurrency and have it be funded from a U.S bank account.
Until now these types of purchases took between 3-5 days to complete, as Coinbase waited for funds to transfer via ACH before they credited your purchase. This wait meant that users would often get frustrated because of bitcoin's inherent volatility - the price could fall (or rise) by 20% by the time your purchase cleared five days later.
Instant buys aren't totally new for Coinbase - users using a credit card to buy cryptocurrency were able to do instant purchases, but this came with a 4% fee, more than double the 1.5% fee charged for bank account purchases. Plus, credit card buys have much lower limits - sometimes only a few hundred dollars a week. Bank account purchases on coinbase have much higher limits - ranging as high as $25,000 a week for the most verified and trusted customers.
The feature will roll out today to ~15,000 users, with "all eligible" US-based customer getting it by the end of the year. While Coinbase wouldn't elaborate on what percentage of users will be eligible, it's likely that doing things like completing the company's verification tiers and showing good customer habits over time would increase the odds of being eligible.
Zach Abrams, Coinbase's new Head of Product, explained that “Coinbase uses proprietary fraud prevention systems it has developed over the last 5 years, to determine how this instant purchase feature is rolled out to groups of customers and that the customers with access to this feature have sufficient balance in their bank account with good purchase history."
Making sure users have enough money in their account to actually afford their purchase is important because Coinbase won't be placing any holds on instantly purchased cryptocurrency, meaning a user will be able to buy bitcoin and transfer it off exchange before the ACH withdraw is actually completed.
Of course this means Coinbase could potentially be left paying for a fraudster's purchase, since banks won't reimburse merchants for declined ACH withdraws due to insufficient funds.
For comparison, Gemini, the Bitcoin exchange run by the Winklevoss twins,allows users to instantly buy and tradeup to $500 per day in cryptocurrency purchased via ACH transfer, but won't let you withdraw it from the exchange until the withdraw clears.
The fact that Coinbase will allow instant off-platform withdraws for as much as $25,000 worth of bitcoin before payment is received is a pretty strong statement in regards to how confident they are in their fraud prevention systems.
Coinbase users will get an email once instant purchases become available on their account. || Dow, S&P 500, Nasdaq back at record highs: The Dow’s on track for a 5-day winning streak as stocks set record highs — again. Auto sales blowing out in September, but can the good times last for the Big 3? And, Wall Street’s coming on board with bitcoin, and now there’s a hedge fund that’s trading it. We’ve got the story. Catch The Final Round with Jen Rogers and markets reporter Nicole Sinclair. Winners and losers Stocks on the move lower include Ericsson (ERIC) as Credit Suisse downgraded the communications firm to underperform, The Tile Shop (TTS) as the specialty retailer warned on sales for the 3rd quarter, and Urban Outfitters (URBN) – shares slashed as Deutsche Bank downgraded shares to ‘sell’ citing valuation following a recent run-up in retail shares. Stocks in the green today include GM (GM) on strong September sales, Wayfair (W) on positive commentary from Piper Jaffray claiming the home furnishings site could see higher revenue growth than forecast, and Paychex (PAYX) – shares climbing higher as the payroll and HR services company beat on earnings and revenue in the last quarter. A hedge fund that trades only Bitcoin? It’s been called a bubble, a fraud and a scam. But do you need to take a closer look at Bitcoin? Even Goldman Sachs CEO Lloyd Blankfein tweeted today “Still thinking about Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.” Joining us now the CEO and founder of BitSpread, a cryptocurrency hedge fund. || Rally Restored? Bitcoin Is Up 75 Percent from 30-Day Lows: Fresh off setting anew all-time highthis morning, bitcoin is once again increasing its 2017 gains.
Yet for those just tuning in, it might not be immediately obvious how strong the cryptocurrency's recent performance has been or the conditions under which it's seen the boost. After all, as recentlyas mid-September, bitcoin's perceived bubble had all but burst when the price fell from $5,000 levels to below $3,000.
Yet, out of this doom and gloom, bitcoin has seen a phenomenal rally, delivering more than 70 percent returns in under 30 days.
Further, it's done so in the face of powerful headwinds – China, the world's largest market had just banned ICOs, throttling a thriving use case, and there is still the silent specter of yet another upcoming fork thatcould split the network, this time more acrimoniously.
So, whilecriticism of bitcoincontinues in some quarters still, bitcoin is paying no heed. Love it or hate it, the number one cryptocurrency by market value has been outperforming popular markets by a big margin.
Just how big is the performance? The chart below outlines bitcoin's price movements from its September 15 low, as compared to gold, the U.S. dollar index and the S&P 500.
The comparison, while not perfect, is a useful one as it provides a perspective on how well bitcoin is performing against common basis points. The S&P 500, for example, is the most traded global benchmark, while the U.S. dollar index provides a snapshot of the prices of paper currencies that inspired bitcoin's quest for a digital alternative.
It's also useful to look at bitcoin against gold – another similarly scarce asset.
Still, over that time, bitcoin's 75 percent rally has rocketed past the anemic gains seen in S&P 500 and the U.S. dollar index. Meanwhile, gold prices shed 1.66% over the same period.
Looking at those figures, bitcoin is clearly ruling the roost (even despite a negative regulatory atmosphere in some jurisdictions).
Further, such strong performance could become a self-feeding cycle, with more investors entering the market for its stellar returns, and hence pushing prices higher.
For a closer look at today's technical indicators,read our latest report.
Race finish imagevia Shutterstock
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• Just SegWit? Bitcoin Core Is Already Working on a New Scaling Upgrade
• Nearing Bottom? Litecoin Prices Consolidating After Rough September || Can Nvidia and AMD Beat the Bitcoin slump?: Unless youve been in a coma for the last few years, you know that both Nvidia Corporation (NASDAQ: NVDA ) and Advanced Micro Devices, Inc . (NASDAQ: AMD ) introduced cryptocurrency-mining specific GPUs . Recently, in a direct contradiction to earlier momentum, Bitcoin and the cryptocurrency markets are receiving a thrashing. Now deep into correction territory, the crypto investors focus has shifted from hitting new plateaus to salvaging whatever they can. Hardened veterans understand that extreme volatility comes with the territory, but what about chip makers, Nvidia and AMD? ? Bitcoin Source: Shutterstock As a quick refresher, mining is an algorithm-heavy process where computers compete to verify blocks of transactional data. The first to verify the data receives a cryptocurrency unit, such as Bitcoin, as a reward. As you might expect, mining is an intensive process. Furthermore, the competition becomes all the more fierce as the mined cryptocurrency rises in value. If you have a slow computer, you are virtually guaranteed to waste a lot of electricity for nothing. To gain an edge, miners elect to use ultra-powerful GPUs. The top sellers are AMD and Nvidia. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Naturally, as Bitcoin prices soared to the moon, interest also shifted to NVDA stock and AMD stock. While not direct investments towards cryptocurrencies, their respective associations cannot be denied. AMD admitted as such in June of this year, and for good reason. Their primary focus is on their core gaming sector, but nobody turns down free money. But now, as Bitcoin prices erode, the association is an unfavorable one. After the king of cryptos first hit $1,000 and then went on to collapse, it took down Nvidia and AMD. Potential miners got a case of the weak knees and fled to the nearest exit. Could the same thing happen again? 7 S&P 500 Stocks That Even Buffett Can't Beat Nvidia and AMD can Weather the Bitcoin Storm Before I say no, I fully disclose the fact that Im a strong advocate for cryptocurrencies. As evidence, I was one of the first people, along with my colleague Dana Blankenhorn, to speak consistently about Bitcoin and the blockchain on InvestorPlace. Furthermore, Ive been buying this crypto slump, and will continue to do so. Story continues Despite my obvious propensity for the digital markets, I still believe, for lack of a better phrase, that this time is different. I dont think current shareholders of either NVDA stock or AMD stock have anything to worry about regarding cryptocurrencies. Heres why: First, when GPU sales for Nvidia and AMD took a hit after Bitcoins mercurial boom-bust cycle in 2013 and 2014, the concept of digital coins was very much a new phenomenon. GPUs werent marketed specifically for crypto mining; rather, it just happened that miners used Nvidia or AMD devices. Moreover, these chips werent necessarily efficient or effective for mining. Competing technologies ultimately hurt GPU sales at that time, not slumping Bitcoin prices. Second, no correlation appears to exist among Nvidia and AMD stock, and Bitcoin. For the second half of this year, NVDA stock is up 17%, whereas AMD shares lost 2.5%. What might surprise lay investors is that Bitcoin is actually up 25% since July 1. Yet the most famous digital coin lost 36% over the last two weeks! These performance metrics are simply all over the place. This dynamic clearly indicates that other factors besides cryptocurrencies impact Nvidia and AMD stock. Finally, Im not convinced that lower crypto prices weaken Nvidia and AMD processor demand. Corrections weed out the speculators and Johnny-come-latelys. This helps true proponents get more bang for their mining buck through competition elimination. NVIDIA Corporation (NVDA) Stock Breakout Is Here, Can It Go to $250? The Cryptocurrency markets have Changed Drastically One broad but critical point to consider is that the cryptocurrency markets have changed dramatically in just the past five years. Back then, we had Bitcoin and Litecoin. Today, Ethereum is the number-two ranked digital currency in terms of market capitalization. According to Coinmarketcap.com , 866 digital coins currently circulate. Inevitably, when Bitcoin corrects, Nvidia and AMD stock will feel it one way or another. But in a few years time, more cryptocurrencies will gain mainstream legitimacy. Thus, miners wont exclusively focus on any one digital coin. And less popular currencies wont be stacked with competition, as I mentioned earlier. This is a tailwind, not a headwind, for the two GPU rivals. Of course, lets not forget the obvious: NVDA stock has performed superbly because of the tech firms push into potentially lucrative markets like smart cars. AMD has its gaming business and is also moving into the sectors of tomorrow (ie. cloud computing and data servers). No, the Bitcoin collapse isnt helpful. But theres no need to lose sleep over it if youve invested in Nvidia or AMD stock. Josh Enomoto is long Bitcoin, Ethereum, and Litecoin. More from InvestorPlace The 10 Best Stocks to Buy for the Rest of 2017 7 A-Rated Consumer Stocks That Will Strengthen Your Portfolio 10 Dividend Investments to Set and Forget The post Can Nvidia and AMD Beat the Bitcoin slump? appeared first on InvestorPlace . || Bitcoin engineer Jameson Lopp SWATted by angry crypto fans: An engineer forBitGo, Jameson Lopp, faced down a horde of police officers with rifles at his home in Durham, North Carolina after someone sent an anonymous tip regarding a hostage situation at his home. The engineer has been vocal on Twitter about upcoming changes in the protocol.
"They shut down most of my neighborhood," he said. "There were dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics," he said. "It was a huge waste of public resources."
Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. The 911 caller who forced the police to act told a dispatcher that he washolding is family hostage and gave Lopp's address.
I asked him what he had been talking about recently and he felt most of his online comments were innocuous. He has, however, made online enemies thanks to his views.
"Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I'm some kind of manipulative monster," said Lopp. "The attacker never made any references to my public debates, so it's not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks."
Lopp has appeared on many TechCrunch podcasts aboutBitcoinincludinga new one we may launch this year.
"The asymmetry here is disturbing," he said. "A single phone call can eat up tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real."
[Image Source: Vesnaandjic/Getty Images] || 3 Stocks to Help You Build Retirement Wealth: While it's fun to dream of a get-rich-quick scheme, the simple reality is that most of us will only be able to do just that: dream. Of course, many people still put a lot of brainpower thinking of how to build retirement wealth. What's the best combination of assets? Do you need gold? Maybe some real estate? Bitcoin? One of the best strategies is also the simplest: Buy shares in great companies, and hold forever. Although the term "great" is sometimes misinterpreted as "popular" in relation to companies, there are quite a few downright boring investments that can help you reach your long-term financial goals. So, rather than chase shiny objects, I think any portfolio can build retirement wealth with a position in cardboard-box supplier International Paper (NYSE: IP) , beaten-down pipeline operator Kinder Morgan (NYSE: KMI) , and water-heater leader A.O. Smith (NYSE: AOS) . A person relaxing in a hammock. The real winner of the shipping wars The relationship between online retailer giant Amazon.com and shippers such as FedEx has long been mutually beneficial, but that hasn't stopped rumors that the retailer may one day attempt to handle logistics and delivery itself. Whether or not a shipping war ever takes place, International Paper is one key player that will remain unaffected no matter the outcome. That's because it supplies ammunition to both sides in the form of corrugated packaging, also known as cardboard boxes. While the dividend stock has only managed to keep pace with the S&P 500 over the past three years, management has big plans for continuing to create shareholder value in the long term. The business is healthier than ever -- and trends in online shopping and the boring corrugated-packaging market are at all-time highs. ^SPXTR Chart International Paper has been refocusing its business on core areas with higher margins and better growth prospects in recent years, and the efforts have paid off tremendously. Although operating cash flow dropped 20% from 2014 to 2016, annual free cash flow hasn't registered lower than $1.6 billion since 2007. It has averaged $1.8 billion annually for the past five years and came in at $1.9 billion in 2016. Story continues It gets better. Not only is that number expected to grow in the next five years, but management has also committed to return 40% to 50% of free cash flow to shareholders each and every year in the form of dividend payments and share repurchases. That promise, combined with the fact that the need for corrugated packaging is near an all-time high, and a dividend that already yields 3.2% today, International Paper stock is an easy choice for building retirement wealth. American energy independence is a slam dunk Not that long ago, one of the most important topics of the day was American energy independence. Considering the United States imported 60% of its petroleum consumption just a little over 10 years ago, it seemed to be an impossible goal. How quickly things change: Today, North American energy independence is a slam dunk. In fact, the continent will become one of the largest exporters of energy in just a few years' time -- and continue growing from there. Few companies are better positioned to take advantage of this trend than Kinder Morgan. The pipeline operator's stock hasn't had much luck against the S&P 500 in the past several years, but that just makes it an even better buying opportunity. ^SPXTR Chart The distilled argument is a simple one: Kinder Morgan relies mostly on fee-based business driven by the volumes of petroleum and natural gas being distributed from Point A to Point B. As more petroleum and natural gas is earmarked for international destinations, it will have to be moved from inland production sites to America's shores. The pipeline operator's 70,000 miles of natural gas pipeline, ability to move 2.1 million barrels of crude oil daily, and natural gas storage capacity that totals 16% of Uncle Sam's total will play an integral role. After a slowdown following the 2014 slide in energy prices, the business has begun showing signs of improvement in the past several quarters. Kinder Morgan appears to be on pace to return to historical profit levels (at least), which has given management the confidence to announce an expected 60% dividend increase in 2018 and 25% annual growth from 2018 to 2020. That would bump the annual distribution from $0.52 per share today to $0.83 per share next year, and potentially as high as $1.30 per share by 2020. If you purchased shares today, then you can expect a rather sizable per share payout in a couple of years. It's difficult for any wealth-building strategy to pass that up. One of the best growth stocks on the market It may be difficult to believe that the boring business of water heaters has delivered better returns than much ballyhooed stocks such as Amazon.com or Apple since 2011, but it's true . That's what happens when you build the No. 1 market position in commercial and residential water boilers and water heaters in multiple markets. And it's especially true when one of those markets is China, where there a lot of households, and most are buying their first water heater. Ever. A.O. Smith has since ventured into home air purifiers and home water treatment systems, which are also growing into promising product lines in China. That hints that although the stock has absolutely trounced the S&P 500 over the long haul, market-beating growth could continue for the foreseeable future. ^SPXTR Chart It's a beautiful operation, really. Strong brand recognition and the need to replace water heaters every so often in North American homes provide steady revenue and earnings each and every year. Growth markets such as China ( and soon India ) power incredible growth. Investors only have to buy, hold, and kick back while returns pile up. Operating cash flow has risen from $280 million in 2013 to $447 million in 2016. Earnings per share and cash on hand have grown 103% and 55%, respectively, as a result -- with plenty left over to invest in growth and acquisitions. A.O. Smith isn't exactly a Dividend Aristocrat today, paying less than a 1% dividend yield, but soaring earnings and cash flow provide plenty of room to grow quarterly distributions in the future. For now, management is focused on expanding operations in China and India, but given the gaudy share price returns, shareholders can't exactly complain. What does it mean for investors? Not every wealth-building investment has to be flashy. Boring stocks such as International Paper and A.O. Smith Corp. can deliver awesome long-term returns and have done so. And although Kinder Morgan is a little more exciting, the current share price represents an amazing buying opportunity for individual investors. Simply put, it's difficult to pass up any of these three stocks for your portfolio. More From The Motley Fool 5 Expected Social Security Changes in 2018 Why You're Smart to Buy Shopify Inc. (US) -- Despite Citron's Report 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing Here's My Top Stock to Buy in October More From The Motley Fool 5 Expected Social Security Changes in 2018 Why You're Smart to Buy Shopify Inc. (US) -- Despite Citron's Report 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing Here's My Top Stock to Buy in October Maxx Chatsko has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Apple, and Kinder Morgan. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends FedEx. The Motley Fool has a disclosure policy . || Comex High Grade Copper Price Futures (HG) Technical Analysis – Crossing $3.1825 Will Put Copper in Extremely Bullish Position: December Comex High Grade Copper futures begin the week in a very strong position. Prices are being driven higher by the weaker U.S. Dollar and expectations of increased demand from China. Weekly December Comex High Grade Copper Weekly Technical Analysis The main trend is up according to the weekly swing chart. The market is not in a position to change the main trend to down, but it is in the window of time for a potentially bearish closing price reversal top. If the rally continues this week then the main tops at $3.2245 and $3.2415 will become the primary upside targets. On the downside, the nearest support is the major Fibonacci level at $3.0230. Forecast Based on last week’s close at $3.1180, the direction of the copper market this week will be determined by trader reaction to the steep uptrending angle at $3.1825. Crossing to the strong side of this angle will put copper in an extremely bullish position. Other upside targets include a downtrending angle at $3.1890, followed by $3.2245 and $3.2415. A failure to overcome $3.1890 will not mean the market is getting ready to turn lower, but it could be an indication that the buying is getting lighter, or that the selling is getting stronger. If there is a sell-off then look for a possible pullback into $3.0230. The price action this week will be dictated by the direction of the U.S. Dollar and China’s trade balance report. This article was originally posted on FX Empire More From FXEMPIRE: The Jury is Out on Bitcoin Gold Prices Shoot Higher on Higher Risk Nervous Investors Shed Risk and Bought Gold Daily Economic Calendar, September 5, 2017 Market Snapshot – Asian News Triggers Todays Moves Bitcoin, Ethereum, and Other Cryptocurrencies Tumble after China Bans ICO’s || RBA, BoC & ECB Deliver Interest Rate Decisions: • On Tuesday the RBA will announce their interest rate decision. Although the RBA has indicated it is in no hurry to move the benchmark cash rate from 1.5%, the accompanying announcement will be closely watched – what type of comments do you think we can expect from the central bank?
Macroeconomic data out of Australia has been relatively upbeat in recent weeks, with the only particularly disappointing figures being this morning’s Company Gross Operating Profits for the 2ndquarter, down 4.5%, reversing most of the 5.8% rise in the previous quarter.
With macroeconomic data out of China last week being on the positive side, China’s manufacturing sector seeing a pickup in activity, the RBA will likely continue to talk positively about the global economic outlook, whilst raising some concerns over the rising tension in the Korean Peninsula following the latest nuclear test that could unravel economic growth in the region should there be any military response.
Domestically, recent labour market data was a little weak, which will likely lead to some further cautious language in the statement, with wage growth continuing to be lackluster another issue faced by the RBA, with a negative outlook on the labour market likely to be taken as a further delay to any shift in monetary policy. But, the RBA will have to acknowledge solid growth through the 2ndquarter, which will be reflected in the 2ndquarter GDP numbers due out on Wednesday.
The RBA Holds Rates, Bringing the EUR and GBP into Focus
We would expect the RBA to continue to be wary of AUD appreciation, however, and the likely complications to the economic recovery, with the AUD sitting currently sitting just shy of $0.80 levels, pegged back by the current risk off sentiment in the market.
• Shortly after Canada’s Balance of Trade is released, the Bank of Canada will also reveal whether they intend to change their interest rate. Although the market expects no change, how would you advise Loonie traders to position themselves?
There’s certainly plenty of debate over what to expect in this week’s Bank of Canada monetary policy decision, with the general consensus siding with rates to be unchanged for now. Things have certainly been bright for the Canadian economy, with the economy outpacing that of the U.S and there’s just cause for the Bank to make another move to reverse the rate cuts back in 2015.
Strong trade data suggests that the Bank may be able to accept some degree of loonie upside, with concerns over rising household debt likely to certainly make a case for a rate hike before the end of the year, with the central bank looking to peg back growth contributions from household debt and the housing sector.
While the markets may initially be disappointed should the Bank of Canada hold back on a move, the forward guidance will be key and ultimately, monetary policy divergence sits firmly in the hands of the Loonie, suggesting that further upward momentum is likely in the near-term.
• Euro Area GDP 3rd estimate will be released on Thursday and will be followed by the interest rate announcement from the ECB. These are two events likely to have a big impact on the market – do you think Thursday will be a bullish or bearish day for the Euro?
From a GDP perspective, macroeconomic data released out of the Eurozone since the 2ndGDP estimate that can influence the 3rdestimate GDP numbers on Thursday included the Eurozone’s trade balance, the trade surplus widening at the end of the 2ndquarter, suggesting that the GDP numbers will at least be in line with 2ndestimates. With economic indicators continuing to show growth through the 3rdquarter, the 3rdestimate figures are likely to be EUR positive, posing the question to the ECB on whether they can continue to hold back on a shift in monetary policy.
The ECB monetary policy decision later in the day on Thursday is unlikely to catch the markets off guard, with few if any expecting the ECB to move on rates or begin tapering its asset purchase program, though the press conference that follows will almost certainly impact the EUR.
Recent guidance from members of the ECB has been that the ECB will likely refrain from unveiling any plans on a tapering to the asset purchase program, preferring to wait until the December gathering.
With time running out, it may be a tall order for Draghi to get through the press conference without having to disclose some views on the tapering, which will make for an interesting press conference, particularly with the growing concerns over EUR strength, the FED’s dovish stance continuing to peg back central banks who had been looking to begin making a policy shift.
I would expect the events to be bullish for the EUR, talk of positive momentum in the Eurozone economy and the knowledge of a likely imminent tapering to the asset purchasing program certainly positives for the EUR.
Thisarticlewas originally posted on FX Empire
• The Jury is Out on Bitcoin
• The RBA Holds Rates, With Service Sector PMIs in the Spotlight through the Day, Bringing the EUR and GBP into Focus
• U.S. Investors Return to Markets after Long Weekend, Global Stocks Mixed amid Risk Off Sentiment
• RBA, BoC & ECB Deliver Interest Rate Decisions
• Gold Prices Shoot Higher on Higher Risk
• Nervous Investors Shed Risk and Bought Gold
[Random Sample of Social Media Buzz (last 60 days)]
CEX.io Welcomes #Dash | #Bitcoin Upload https://adzbuzz.com/shares/32364/cexio-welcomes-dash-bitcoin-upload/EarnBitcoinsFast … || LISK: Erfahrungen aus der ICO-Welt - #bitcoin Blase #ico https://www.bitcoinblase.at/2017/10/11/lisk-erfahrungen-aus-der-ico-welt … || #bitcoin non si ferma più? Analisi tecnica || “The biggest innovation since the Internet” by AngelList https://blog.angel.co/the-biggest-innovation-since-the-internet-fe2d823df141 … #bitcoin #blockchain || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || RoboForex Launches CFD Trading for Bitcoin http://ift.tt/2yX9hyU || Bitcoin Illegal in Nepal? Police Arrest Seven Individuals for Trading Operations https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/ … via @BTCTN || #bitcoin non si ferma più? Analisi tecnica || Mining Rig Wars #4: Sons of Crypto Unite! https://youtu.be/hvxQVbtFg-0 #crypto #cryptocurrency $btc $eth $xvg
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Trend: up || Prices: 6468.40, 6767.31, 7078.50, 7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-05-17]
BTC Price: 30425.86, BTC RSI: 35.05
Gold Price: 1818.20, Gold RSI: 34.47
Oil Price: 112.40, Oil RSI: 58.68
[Random Sample of News (last 60 days)]
E-Mini NASD-100 Struggling Inside 14821.25 – 15264.75: June E-mini NASDAQ-100 Index futures are inching lower early Thursday as investors prepare to wrap up a volatile month and quarter that could end with either a bang or a whimper based on its recent activity.
CNBC is reporting that some tech stocks were under pressure in the pre-market session amid analysts concerns over the PC market going forward.AMDshares slipped more than 1% in the premarket after analysts at Barclays downgraded the stock to equal weight from overweight.
Meanwhile, theHP IncandDelldipped 3.8% and 2% respectively after being downgraded to equal weight from overweight at Morgan Stanley.
At 11:44 GMT,June E-mini NASDAQ-100 Index futuresare trading 15099.50, up 28.00 or +0.19%. On Wednesday, theInvesco QQQ Trust Series 1 ETF (QQQ)settled at $367.20, down $3.99 or -1.07%.
In the cash market, the NASDAQ Composite is on pace to finish the month up about 5%. For the quarter, the tech-driven index is off more than 7%.
Later today, investors will get the opportunity to react to the latest data onweekly jobless claims,personal incomeandpersonal spending.
The main trend is up according to the daily swing chart. A trade through 15268.75 will signal a resumption of the uptrend. A move through 12942.50 will change the main trend to down.
The minor trend is also up. A trade through 14433.50 will change the main trend to down. This will also shift momentum to the downside.
The main range is 16700.00 to 12942.50. The index is currently trading inside its retracement zone at 14821.25 to 15264.75. This zone is controlling the near-term direction of the index.
The short-term range is 12942.50 to 15268.75. If the minor trend changes to down then its retracement zone at 14105.50 to 13831.00 will become the primary downside target.
The direction of the June E-mini NASDAQ-100 Index on Thursday is likely to be determined by trader reaction to 15264.75.
A sustained move over 15264.75 will indicate the presence of buyers. Taking out this week’s high at 15268.75 will indicate if the buying is getting stronger. This could trigger the start of an acceleration into the January 12 main top at 16007.50.
A sustained move under 15264.50 will signal the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into the main 50% level at 14821.25.
Taking out 14821.25 will indicate the selling pressure is getting stronger with the minor bottom at 14433.50 the next likely target.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Bitcoin and ETH Signal Correction, SOL Rally Approaches Hurdles
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• E-mini S&P 500 Sellers Targeting 4530.50 Fibonacci Support
• Solana (SOL) Leads the Crypto Majors Through the Morning Session
• Silver Markets Continue to Find Buyers
• US Dollar Stabilizes Against the Japanese Yen || 6 Stocks to Buy to Counter High Inflation That Will Do Well This Year: These are six stocks to buy during a period of high inflation, given their brand power, pricing ability and high need by consumers. Exxon Mobil ( XOM ): This company refused to cut its dividend during the Covid crisis. The Procter and Gamble Co. ( PG ): This company has had 66 years of annual consecutive dividend increases. The Coca-Cola Company ( KO ): This $283 billion stock will have steady earnings and dividends during a recession. Apple ( AAPL ) Just raised its dividend trades for 26 times earnings and a 0.58% yield; Chubb Limited ( CB ) has paid the same dividend for four quarters likely to hike in May 13.9x P/E and 1.56% yield; AT&T ( T ): AT&T is now free of its loss-making entertainment divisions and can focus on steady telecom revenue. Source: ShutterstockProfessional / Shutterstock.com These are six stocks to buy that have pricing and demand power. Moreover, most of them have paid continuous dividends, even during previous inflationary periods. High rates of inflation can destroy a companys profitability, especially if it cannot pass on to its customers any increases in its costs. In addition, if inflation expectations take root in consumers minds, where they expect higher prices continuously, their level of demand for products will fall. This affects the top line of many companies, but less so where the demand for their products is inelastic , i.e, wont change. The Bureau of Labor Statistics (BLS) is set to announce the Consumer Price Index (CPI) inflation number for April on May 11. Last month it reported that the CPI had risen to 8.5% over the last 12 months. InvestorPlace - Stock Market News, Stock Advice & Trading Tips This is the seventh month in a row that the CPI has risen. Investors will be anxiously waiting to see if the April CPI shows a further accelerating increase. 4 Blue-Chip Stocks to Buy for May 2022 Lets dive in and look at these six stocks. XOM Exxon Mobil Corporation $86.22 PG The Procter & Gamble Company $154.72 KO The Coca-Cola Company $64.74 AAPL Apple Inc. $156.22 CB Chubb Limited $208.65 T AT&T Inc. $19.60 Stocks to Buy That Counter Inflation: Exxon Mobil (XOM) Exxon Mobil Stock Is on the Way Back, but It Will Take Some Time Source: Jonathan Weiss / Shutterstock.com Market Cap: $362 billion Exxon Mobil (NYSE: XOM ) has huge pricing power in a period of high inflation as everyone needs to buy gasoline. Analysts expect that its EPS will reach $10.02 this year and (assuming lower oil prices) $8.61 next year. At $90.31 on May 5 XOM stock has a cheap price-to-earnings (P/E) multiple of just 9.6x this year and 11.4x next years earnings. Exxon Mobil pays $3.52 annually, giving it a 4.17% dividend yield. Its payout ratio is solid at 51.47%, even using the lower 2023 forecast of $8.61. Story continues Exxon refused to do so during the height of the pandemic. I wrote about this in a separate InvestorPlace article a year ago . Exxon could afford to do this as it was not buying back shares at the time. Exxon has since restarted its share buyback program. It has cut out $9 billion in extra costs, as shown in its recent Investor Day presentation. This makes its payout ratio stronger. Exxons strong dividend yield is a sign the company will last through a severe inflation or recession period. The Procter and Gamble Co (PG) Procter & Gamble Union Distribution Center. P&G is an American Multinational Consumer Goods Company Source: Jonathan Weiss / Shutterstock.com Market Cap: $373.7 billion The Procter and Gamble Company (NYSE: PG ) is a consumer goods powerhouse with many popular brands. It has had 66 years of annual dividend increases. That covers many periods of inflation, recession, war and other turbulent times. In each of these volatile periods, it has never stopped raising its dividend. The simple underlying reason for that is the pricing and brand power of its underlying products. This feeds into its powerful cash flow. This powerful cash flow allows it to keep paying and raising its dividend. That is exactly the kind of stock you want to own during a period of high inflation and/or a recession. 7 Defensive Dividend Healthcare Stocks to Buy Now In the last 10 years, P&G has had an average compound dividend growth rate of 5.13% each year according to Seeking Alpha . This implies it will keep growing its dividend going forward. Stocks to Buy That Counter Inflation: The Coca-Cola Company (KO) hand holding a bottle of Coca-Cola (KO) against a red background Source: focal point / Shutterstock.com Market Cap: $282.7 billion The Coca-Cola Company (NYSE: KO ) is a $283 billion stock that will have steady earnings and dividends during a recession. The companys latest earnings report shows that it is still producing large amounts of free cash flow (FCF). As a result of its powerful brand worldwide, Coca-Cola has been able to pay a higher dividend for each of the past 59 years. This, again, is evidence of its very powerful cash flow. It has been able to withstand recessions, high inflation periods and all kinds of other volatile economic periods. In the last 10 years, its compound annual growth rate (CAGR) of dividends was 5.88% . That history is going to help the company power through a recession, and the stock will do well as a result. Apple Inc (AAPL) Apple store. Apple Inc. (AAPL) sells consumer electronics, computer software, services and personal computers. Source: Vytautas Kielaitis / Shutterstock.com Market Cap: $2,499 billion Apple Inc. (NASDAQ: AAPL ) has paid consistently higher dividends for the past nine years. In addition, it just announced its 10th consecutive higher dividend at the end of April 28. As a result, its annual dividend is set at 92 cents, giving it a dividend yield of 0.58% as of May 10. The reason why AAPL stock is set to be a good stock to own is due to its strong brand name and its strong free cash flow generation. It is likely to keep raising its dividend even during a period of inflation and a possible recession. 7 Dividend Stocks to Buy for May With Yields Over 6% For example, Apple produced $28.098 billion in FCF during Q1. Its dividend expenses were just $3.595 billion . So it has plenty of room to keep raising its dividend. This makes it one of the best stocks to buy during a period of high inflation and possibly a recession. Stocks to Buy That Counter Inflation: Chubb Limited (CB) Man in suit with hands over paper cutouts of family, car and home. Represents insurance. Source: thodonal88 / Shutterstock.com Market Cap: $88.48 billion Chubb (NYSE: CB ) is an insurance and reinsurance company that has paid a consistent dividend over the past eight years and has grown its dividend over the past two years. Chubb has paid the same dividend for the past four quarters and is likely to hike it again at the end of May. As it stands, CB stock has a price-to-earnings (P/E) multiple of 13.9x and a 1.56% yield. This makes it a solid earning company. Insurance companies tend to do reasonably well, in that they do go out of business during periods of high inflation. The reason is that insurance tends to get paid by most people during high inflation periods as its price increases tend to lag. AT&T (T) AT&T (T) logo on wooden background Source: Lester Balajadia / Shutterstock.com Market Cap: $140 billion AT&T (NYSE: T ) recently spun off its WarnerMedia division and merged it with Discovery Inc. The new company is called Warner Bros. Discovery (NASDAQ: WBD ). AT&T cut its dividend to $1.11. At todays price of $19.54 as of May 10, that gives it a 5.54% dividend yield. This is secure since AT&T says this will be about 40% or so of its FCF. Moreover, as a result of the WBD transaction, AT&T received $43 billion , which its using to pay down debt. This also makes the dividend very secure on an ongoing basis for investors. As a result, the dividend payout ratio looks very comfortable. 7 Restaurant Stocks Ready for a 'Revenge Travel' Rally For example, for 2023, 21 analysts surveyed by Refinitv forecast its earnings per share at $2.59 . That means the $1.11 dividend per share is only 42.9% of forecast EPS. This brand-name stock looks like one of the best stocks to buy during a period of inflation or a recession. On the date of publication, Mark Hake did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS It doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 6 Stocks to Buy to Counter High Inflation That Will Do Well This Year appeared first on InvestorPlace . View comments || Who is the TikToker living in Taylor Swift’s childhood home?: A TikToker went viral for her “weird connection” to Taylor Swift . Bitcoin vs. gold: Which is the better inflation hedge? Sydney Redner, AKA @ sydthefreakinbid , went viral back in 2020 when she revealed she lived in the pop star’s childhood home . Before kicking off her music career in Nashville as a teen, Swift lived in Berks County, Pa. Redner’s back in the spotlight now that the home is up for sale . Social media sensation Don Benjamin dishes on his Pharrell-inspired skincare regimen: Who is Sydney Redner? Redner is a TikToker with 3,230 followers. She mostly posts personal vlogs about her dogs and friends. She briefly had viral success when her connection to Swift sparked TikTok’s interest. “If you’re from Berks County, Pa. name your weird connection to Taylor Swift. I’ll start: My mom’s old boss turned her away from singing at a bar,” a TikToker said. Redner stitched the video to say, “I live in her childhood home.” But she hardly gave a tour, only showing the foyer and outside of the home. Swift’s childhood home is up for sale Swift’s old home was first built in 1929. The 3,560 square foot Colonial Revival style house has five bedrooms, and three and a half baths. She lived there until she was 14 and is believed to have written the songs “Teardrops On My Guitar” and “Love Story” there. “In the cement outside, there is an imprint that says ‘TAS,’” Redner told House Beautiful . She believes it stands for Swift’s initials (Taylor Alison Swift). “We get a lot of fans taking pictures outside the house. I feel like there tends to be more around the holidays when people are traveling from other states and want to see it,” Redner told House Beautiful . “If Taylor Swift has a concert in Philadelphia or somewhere close, there are more fans around that time. Our family is fine with fans taking pictures as long as they are quick and respectful.” That might be changing now since reports show that the home is up for sale for $1 million . With just $1,000 and one day, this Harlem bedroom gets a brand new look: Story continues The post Who is the TikToker living in Taylor Swift’s childhood home? appeared first on In The Know . More from In The Know: Mom provides 'daily dose of birth control' by revealing the most 'terrible' way to be woken up What is the weird astrological event happening on April 12? 'I actually did it myself': TikTok sound explained Jo Malone London’s new cherry blossom fragrance sold out at Sephora in days — here's where it's still in stock Lunch ladies had the best Easter egg prank for these preschoolers: 'Gross' || World equities rise on bounce in U.S., European markets: By Elizabeth Dilts Marshall
NEW YORK (Reuters) - Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices.
Global markets and U.S. stocks were down sharply most of this week as investors grew anxious about the possibility of recession. The S&P 500 index is off nearly 20% from its all-time high in January and was close to a bear market on Thursday. [.N]
But investors' fears over whether U.S. Federal Reserve Chair Jerome Powell can accomplish a "soft landing" - bringing inflation down while keeping the U.S. economy growing - appeared to ease at least temporarily on Friday.
MSCI's gauge of stocks across the globe gained 2.30% at 4:07 p.m. ET (2007 GMT), after hitting its lowest since November 2020 on Thursday. The pan-European STOXX 600 index rose 2.14%.
According to preliminary data, the S&P 500 gained 94.57 points, or 2.41%, to end at 4,024.65 points, while the Nasdaq Composite gained 436.61 points, or 3.84%, to 11,807.57. The Dow Jones Industrial Average rose 466.43 points, or 1.47%, to 32,196.73.
Despite Friday's gains, the S&P 500 and the Nasdaq posted their sixth consecutive weekly loss, and the Dow notched its seventh consecutive weekly dip.
Emerging market stocks rose 1.83%. MSCI's broadest index of Asia-Pacific shares outside Japan rallied 2.01% from Thursday's 22-month closing low. Japan's Nikkei rose 2.64%.
"Stocks were ready to rebound as some investors remain hopeful the Fed will deliver a soft landing, while others are ready to buy the dip," said Edward Moya, analyst at OANDA.
Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin.
Bitcoin, the largest cryptocurrency by market value, rose 3.5% to $29,884, rebounding from a December 2020 low of $25,400 hit on Thursday. Bitcoin remains far below week-earlier levels of around $40,000 and is on track for a record seventh consecutive weekly loss.
Oil prices jumped 4% as U.S. gasoline prices jumped to a record high and China looked ready to ease pandemic restrictions.
Brent futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose $4.36, or 4.1%, to settle at $110.49.
GRAPHIC: S&P 500 set for a sixth straight week of falls (https://fingfx.thomsonreuters.com/gfx/mkt/zdpxoglxgvx/stx1305.PNG)
Markets are likely to experience a short-term rebound before resuming the sell-off which has sent Wall Street's Nasdaq tech index down over 25% since the beginning of the year, BofA analysts wrote in a weekly strategy note.
Investors liquidated global equity funds worth $10.53 billion in the week ended May 11, compared with $1.65 billion of net selling in the previous week, according to Refinitiv Lipper.
In an interview late on Thursday, Powell said the battle to control inflation would "include some pain," and he repeated his expectation of half-percentage-point interest rate rises at each of the Fed's next two policy meetings.
Headline inflation in the euro zone will fall in the second half of the year but so-called core prices, which strip out food and energy, will keep rising, the European Central Bank's vice-president Luis de Guindos said on Friday.
The dollar was lower on Friday but remained on track for a weekly gain. The dollar index fell 0.2%, with the euro up 0.21% to $1.0401.
The Japanese yen weakened 0.77% versus the greenback at 129.32 per dollar, while sterling was last trading at $1.2232, up 0.27% on the day.
The moves higher in equities were mirrored in U.S. Treasuries, with the benchmark U.S. 10-year yield edging up to 2.9367% from a close of 2.817% on Thursday.
The policy-sensitive 2-year yield was 2.5986%, from a close of 2.522%.
Gold fell more than 1% on Friday and is set for its fourth straight weekly decline, as the dollar's strength sapped appetite for bullion. Spot gold dropped 0.8% to $1,807.79 an ounce. U.S. gold futures fell 0.59% to $1,807.40 an ounce.
(Reporting by Elizabeth Dilts Marshall; Additional reporting by Carolyn Cohn in London and Andrew Galbraith in Shanghai and Dhara Ranasinghe in London; Editing by Jane Merriman, Nick Zieminski and Richard Chang) || The Silicon Valley titan who got banks to go online is now running a crypto mortgage unicorn: Yet another player is entering the crypto mortgage business as the lines between the crypto and real estate industries increasingly intersect. And it's got a major Silicon Valley pedigree. Starting in April, Figure Technologies will give out 30-year mortgages of up to $20 million in exchange for putting up an equal amount of cryptocurrency in either Bitcoin or Ether, as collateral, according to co-founder Mike Cagney. Cagney said in a LinkedIn post Tuesday that the company was opening a waiting list for its mortgage product, and those who signed up could receive them in April. Payment on the loan over the 30-year term can be paid in cash or with the crypto collateral, and would bear an interest rate of between 3% and 5.99%, according to Figures website. Figure was co-founded in 2018 by Cagney, who was also behind SoFi, the San Francisco-based fintech which went public last year through a merger with a special-purpose acquisition company run by tech investor Chamath Palihapitiya. The more than decade-old company started by refinancing student loans, but later evolved into a major player challenging established U.S. banks with its online financial offerings like mortgages, credit cards, insurance, and investing accounts. Cagney stepped down as CEO of SoFi in 2017 after the company started looking into claims of sexual harassment by employees . Cagneys new startup, Figure, is already finding its own success. In 2019, the company reached unicorn status with a $100 million funding round that valued it at $1.2 billion , and its valuation has only grown since . Crypto-backed mortgages pick up steam Figure is the most recent company to enter the emerging industry of crypto-backed mortgages. Last December, crypto lending firm Ledn raised $70 million , which it said it was going to use in-part to build out its Bitcoin-backed mortgage product. Earlier this year, crypto lending platform Milo also launched a waitlist for its Bitcoin-backed mortgages. Story continues The crypto mortgage products are mostly aimed at the crypto wealthy, who may have a lot of their net worth tied up in cryptocurrencies. Instead of selling their tokens in taxable transactions, they can use them as collateral to get funds for a home purchase. Other companies like BlockFi and Nexo are already giving out loans in cash or stablecoins, cryptocurrencies tied to the price of a fiat currency like the dollar, in exchange for collateral in cryptocurrencies like Bitcoin and Ether. The increase in crypto-backed mortgage products is just another example of the increasing overlap between real estate and the crypto space. NFTs have also started to play a part. Earlier this year, a woman bought a five-bedroom, three-and-half-bath house near Tampa as an NFT for 210 Ether, the equivalent of $653,000 at the time of the sale. This story was originally featured on Fortune.com || Bitcoin Miner Iris Energy Gets $71M Equipment Financing From NYDIG: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Australian bitcoin miner Iris Energy (IREN) has secured $71 million in equipment financing from institutional bitcoin broker NYDIG.
• The financing is backed by 19,800 Iris Energy’s Bitmain S19j Pro miners, that have a hashrate of about 1.98 exahash per second (EH/s), and it has a 25-month term with a 11% per annum interest rate, the company said in astatementon Monday.
• Iris Energy had an averageoperating hashrateof 844 petahash per second in February and plans to reach 10 EH/s by early 2023. It also hassecureda total of 15 EH/s worth of mining machines.
• The miner said it still has about 10 EH/s of the company’s total stock of miners that remain unencumbered, which provides the company flexibility and option to secure additional non-dilutive funding.
• “This is our third equipment financing facility together [with NYDIG] and we look forward to formalizing additional loan facilities as miners continue to be delivered and installed,” said Daniel Roberts, co-Founder and Co-CEO of Iris Energy.
• The financing comes as crypto miners are looking to get creative with their capital needs, including raising funds through bitcoin-backed loans and asset-backed loans that are tied to the companies’ mining rigs.
• Iris Energy’s stock has fallen about 5.5% this year, while bitcoin has declined about 1.2%. The shares of the miner were up almost 3% during early trading on Monday.
Read more:The Future of Mining Finance: Time to Get Creative || Sega Reboots Crazy Taxi, Jet Set Radio to Chase Fortnite Riches: (Bloomberg) -- Sega Sammy Holdings Inc. is developing big-budget reboots of its Dreamcast games Crazy Taxi and Jet Set Radio as it taps its back catalog in search of global hits like Epic Games Inc.’s Fortnite, according to people familiar with its plans. Most Read from Bloomberg Ukraine Latest: UN Chief to See Putin; Russia Aims for South The Second Wave of the Russian Oil Shock Is Starting U.S. Blasts China’s Support for Russia, Vows to Help India Kremlin Insiders Alarmed Over Growing Toll of Putin’s War in Ukraine Ukraine Latest: U.S. Says It Has Slowed Tech Goods to Russia The two titles would be the first entries in Sega’s Super Game initiative, which the company announced a year ago as an effort to develop recurring revenue sources and build online communities around its software portfolio. Fortnite has become the role model for such games: free to play, it’s available across platforms, hosts large multiplayer contests and includes extras like vehicles, construction and social events on top of the usual combat, spurring player purchases of in-game items. The new Crazy Taxi has already been in development for over a year and the Tokyo-based entertainment group aims to release it within two to three years, the people said, asking not to be named as the information is not yet public. It was named alongside Jet Set Radio in Sega’s annual report a year ago on a list of intellectual property assets that Sega wanted to recapitalize by bringing them up to date. Both new games are in the early stages of creation and could still be canceled, the people said. A Sega spokesman said the company has no comment to make at the present time. The Super Game project is led by Sega’s video game unit chief Shuji Utsumi, a former PlayStation executive, and currently includes plans for about four such titles, according to the people. The company said last year that its European studio is working on a first-person shooter Super Game and the plan was to offer “contents and services that can create a large community” and as much as 100 billion yen ($780 million) in lifetime revenue. Story continues Sega’s online role-playing game Phantasy Star Online 2 fits the criteria for a global multiplayer hit, but it has so far failed to stir up a thriving market with its in-game purchase offerings. The Japanese company plans to address this aspect of monetization more aggressively with its upcoming titles. Crazy Taxi casts the player in the role of a speed-above-all-else taxi driver and Jet Set Radio is an award-winning street action game, both released for the Dreamcast console in 2000. Past installments never turned into major commercial hits but did develop a devoted fan base even as niche titles, according to Tokyo-based games consultant Serkan Toto. “They are more like cult titles with very loud and vocal fan bases, totally different in scale when compared to Sega’s iconic Sonic series,” Toto said. Sega is betting big on Super Games at a time when its traditional businesses of pachinko and arcade machines face dwindling audiences and waves of Covid-19 restrictions. Console and smartphone gaming represents the company’s best chance at securing long-term growth. Sega partnered with Microsoft Corp. in November on its Super Game development, using the Azure cloud platform and potentially setting the stage for the addition of those titles to Microsoft’s Xbox Game Pass service. Sarah Bond, corporate vice president for gaming at Microsoft, at the time said that the duo will “reimagine how games get built, hosted, and operated, with a goal of adding more value to players and Sega alike.” Read this next: King of the ‘Lunatics’ Becomes Bitcoin’s Most-Watched Whale Most Read from Bloomberg Businessweek Everything You Need to Know About Netflix’s Big Miss How WALL-E Predicted the Future Alzheimer’s Trials Exclude Black Patients at ‘Astonishing’ Rate Beijing Crackdown Derails Alibaba’s Bid for Amazon-Size Profit America’s Favorite Truck Is About to Test Tesla’s Dominance ©2022 Bloomberg L.P. || Morgan Stanley Says Over 100 Crypto Assets Were Created in Past Week, Mainly on DeFi Exchanges: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Cryptocurrencies have traded like risk assets because of stimulus from governments and central banks, but tighter Federal Reserve policy means that the “liquidity-driven crypto momentum trade” has reversed, Morgan Stanley said in a note published Tuesday.
The growth in bitcoin's market capitalization has generally tracked the growth in the globalM2money supply, the report said, noting that the crypto market capitalization grew 10-fold from the start of 2020 amid central bank easing. The crypto market cap has fallen from a peak of $2.92 trillion in November last year to under $2 trillion.
Despite the recent fall in cryptocurrency prices, the creation of digital assets is still high, with more than 100 created in the past week or so, mainly on decentralized exchanges, analysts from the bank said.Decentralized finance(DeFi) user growth has tracked ether prices, it noted.
DeFi is an umbrella term used for lending, trading and other financial activities carried out on a blockchain, without the use of traditional intermediaries.
Morgan Stanley observed that trading activity has been weak during the “crypto bear market”, with exchange trading volumes of around $750 billion in March, half that of the peak last November. Trading volumes have generally tracked the bitcoin price, it added.
Bitcoin has had a high correlation with equities since early 2020, and has had almost zero correlation with gold recently, the report said, noting that the cryptocurrency has been more correlated with the media and entertainment stocks in the U.S., as both are possibly driven by similar factors.
Read more:Morgan Stanely Sees DeFi Remaining ‘Fairly Small’ as Growth to Slow || Market Wrap: Bitcoin Rallies as Crypto Holders Accumulate: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Bitcoin ( BTC ) surged past $47,000 and is attempting to reverse a bearish start to the year. The world's largest cryptocurrency by market capitalization is up 15% over the past week, compared with a 16% rise in ether ( ETH ) and a 25% rise in Solana's SOL token over the same period. The rally in alternative cryptocurrencies (altcoins) relative to BTC reflects a greater appetite for risk among crypto investors. Sign up for Market Wrap , our daily newsletter explaining what happened today in crypto markets – and why. Coming April 4. Meanwhile, the S&P 500 was roughly flat Monday, versus a 6% rise in BTC over the past 24 hours. That suggests the recent rally in bitcoin can be explained by new token accumulation, which is unique to the crypto market. Over the past six days, the Luna Foundation Guard’s (LFG) bitcoin wallet address purchased more than 27,000 BTC worth roughly $1.3 billion. The foundation is delivering on its month-old promise to add BTC as an additional layer of security for UST, which is Terra's decentralized dollar-pegged stablecoin. Do Kwon, the foundation's director, confirmed the address to Bitcoin Magazine in an email, which was also marked by OKLink , a blockchain information website. There appears to be a synergy between bitcoin and the Terra ecosystem, according to Lucas Outumuro , head of research at IntoTheBlock, a crypto data company. "UST benefits from having additional backing and bitcoin benefits not just from the buying pressure, but also from having a stable medium of exchange backed by BTC," Outumuro wrote in an email to CoinDesk. Latest prices ● Bitcoin (BTC): $48,010, +6.84% ● Ether (ETH): $3,412, +7.22% ● S&P 500 daily close: $4,576, +0.71% ● Gold: $1,919 per troy ounce, −1.78% ● Ten-year Treasury yield daily close: 2.48% Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Story continues Spot driven move Bitcoin's recent price bounce appears to be driven by demand in the spot market, which typically occurs around market turning points. The chart below shows the rise in spot BTC volume versus futures volume, which has settled at around average levels over the past week. In the futures market, open interest is rising and funding rates are slightly positive (at a one-week high). That indicates an increase in trading activity, albeit with weak conviction among BTC buyers. Bitcoin's spot volume versus futures volume (Glassnode, Swissblock Technologies) The chart below shows an uptick in bitcoin trading volume across major exchanges, according to CoinDesk data. Prior volume spikes occurred during market sell-offs, which signaled capitulation among sellers. At this stage, an increase in buy volume versus sell volume could determine if the price rally has staying power. Data from CryptoQuant shows a slight increase in the buy/sell volume ratio over the past week, which indicates bullish sentiment among bitcoin traders. Bitcoin's trading volume (CoinDesk, CryptoCompare) Altcoin roundup Shiba Inu, Solana tokens lead gains with bitcoin: Major cryptocurrencies displayed gains after over two weeks of staying flat. Solana’s SOL jumped as much as 14%, with similar gains seen with Shiba Inu’s SHIB and Polkadot’s DOT tokens. A jump in SOL prices made it costly for traders betting against higher prices of the asset. Data shows nearly $30 million in liquidations occurred on SOL-tracked futures, according to CoinDesk’s Shaurya Malwa. Read more here . NFTs could go mainstream with Instagram’s planned support: Bringing non-fungible-tokens to Instagram’s large audience has the potential to supercharge the overall market going mainstream, Deutsche Bank said in a research report on Sunday. Instagram will simplify the process of buying and selling NFTs, thereby lowering the barriers to entry, the bank said, adding that the platform’s strong global brand recognition will “lend itself to legitimatize NFTs, which could serve to erode buying hesitancy across the company’s broader audience,” analysts wrote, according to CoinDesk’s Will Canny. Read more here . BAYC’s ApeCoin jumps 13%, causes $4.5M in futures liquidations: Traders of futures tracking ApeCoin (APE) lost over $4.5 million in the past 24 hours as prices surged by 13% amid a broader market jump, data from tracking took Coinglass shows. Some 66% of all APE futures traders were short, or betting against higher prices for the recently issued token. These accounted for $2.8 million of all losses, while $1.4 million in gains were for traders who were long, or betting on higher prices, according to CoinDesk’s Shaurya Malwa. Read more here . Relevant news Recession Signals Light Up as Section of US 'Yield Curve' Inverts : The recession hint could have bearish implications for risk assets, including bitcoin. Biden Budget Proposal Estimates Additional $11B in Revenues by 2032 by Updating Crypto Rules : The proposal also seeks to expand the DOJ’s budget by $52 million to fight ransomware and combat the “misuse of cryptocurrency.” US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar : The e-cash would be a digital analogue to the greenback and could preserve privacy and anonymous transactions, according to an adviser on the bill. Japan to Plug Loophole to Prevent Russia From Evading Sanctions Through Crypto: Report : Reuters reports a number of top government officials promising an imminent change to the country's Foreign Exchange and Foreign Trade Act. Bitcoin Could Reach $53K on Triangle Break, Impending Bull Cross, Analysts Say : The cryptocurrency's two-month triangular consolidation ended early Monday with a convincing move to $47,000. Other markets Digital assets in the CoinDesk 20 ended the day higher. Largest winners: Asset Ticker Returns Sector Filecoin FIL +14.9% Computing EOS EOS +14.7% Smart Contract Platform Cardano ADA +7.9% Smart Contract Platform Largest losers: There are no losers in CoinDesk 20 today. Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. || 5 Stocks to Buy Now if You Believe in These Analyst Upgrades: Target ( TGT ) Gordon Haskett analyst Chuck Grom has raised his rating on the retailer and upped his price target to $300 from $255. Kroger ( KR ) BofA analyst Robert Ohmes revised his opinion on the stock from neutral to buy, raising the price target to $75 from $61. Coupa Software ( COUP ) Evercore ISI analyst Peter Levine raised the price target from $75 to $140 while upgrading from in-line to outperform. Nio ( NIO ) UBS analyst Paul Gong upgraded shares from hold to buy, with a price target of $32. Welltower ( WELL ) Scotiabank analyst Nicholas Yulico upped Welltower to sector outperform from sector perform. Although the stock market is unpredictable and anyone investing can suffer losses, analyst upgrades provide useful insight into the best stocks to buy now. They suggest which stocks are low-risk and likely to rise. 7 Stocks to Add to Your April Must-Buy List Here are five of the most promising stocks that analysts have upgraded in the past few weeks. These stocks are still considered undervalued and are expected to see significant growth soon. TGT Target $234.92 KR Kroger $57.86 COUP Coupa Software $105.35 NIO Nio $20.36 WELL Welltower $96.74 InvestorPlace - Stock Market News, Stock Advice & Trading Tips Target (TGT) an image of bullseye the target (TGT) dog in a target store Source: Robert Gregory Griffeth / Shutterstock.com Target (NYSE: TGT ) opened in 1962 and has 1,931 stores. The company offers a wide range of services, including retail, online shopping, e-commerce, food distribution and logistics. Since the start of the year, though, things have not been looking up for Target. The company has not done too well alongside the rest of the retail sector. However, Gordon Haskett analyst Chuck Grom has raised his rating on the retailer and revised his price target to $300 from $255. In December, the companys shares were downgraded, with analysts citing concerns about sales growth sustainability and initiatives such as curbside pickup. Grom now believes the company is holding up well, with remarkable consistency in both performance and sales. The analyst also notes a later spring/Easter shift lineup that could continue to see an uptick in performance. Story continues The analyst predicts that Target shares will appreciate significantly as confidence begins to increase about the companys model in the coming stages of the Covid-19 pandemic. Kroger (KR) A Kroger (KR) logo on a building. Source: Jonathan Weiss / Shutterstock.com Kroger (NYSE: KR ) is a grocery store chain with more than 2,700 stores in 35 states. It is the largest supermarket chain in the United States and has been around since 1883. Kroger has seen an increase in its online business as it started to offer online grocery shopping services in 2015. Shares of the grocer gained handsomely when BofA analyst Robert Ohmes revised his opinion on the stock from neutral to buy on April 8, raising the price target to $75 from $61. According to the new research note, consumer inflation is expected to stay high for the next few years. This means that Kroger should continue to see significant EPS upside as wages for U.S. employees have increased by 6% . 7 Cloud Computing Stocks to Buy for April 2022 High inflation means that consumers are now doing more comparison shopping to find the best deals, which is a good sign for Kroger. This indicates their market share could be on the rise. Coupa Software (COUP) A photo of a person holding money while reading statistics on a page. Source: Shutterstock Coupa Software (NASDAQ: COUP ) is a global technology platform that helps businesses, governments and not-for-profits track and manage their business spending. They use an integrated system of financial management tools that help them make better decisions about how they spend their money. They can quickly analyze spending trends in real-time to help with budgeting. Coupa Software has been under pressure due to a general slowdown in the tech sector , leading to lower stock prices for other companies. The company has also done well, evidenced by its revenues: $541.6 million in 2021 , which is an increase of 39% from the previous year. Evercore ISI praised the company for its expansion and demonstrated its notable growth , describing it as having great long-term potential. Peter Levine raised the price target from $75 to $140 while upgrading from in-line to outperform. Sales cycles for industry verticals are back at pre-pandemic levels, and with pipelines at record heights, the analyst wrote that the company is in a great position. Nio (NIO) NIO store sign and customer in electric car store. NIO is a Chinese EV company Source: Robert Way / Shutterstock.com Nio (NYSE: NIO ) is a Chinese company making waves in the industry since its inception in 2014. It has quickly become one of Chinas most successful companies, and it is now considered one of the leading electric vehicle manufacturers worldwide. In 2021, NIO delivered 91,429 vehicles and saw strong growth of 109.1% year-over-year. However, in the year thus far, there has been a slowdown in growth. As China has been dealing with a major coronavirus outbreak, the EV maker has halted car production, which will have a huge impact on deliveries. China has a strict zero-Covid-19 policy that it has implemented for quite some time now. This is a situation the company will have to manage. 7 Desirable Dividend Growth Stocks for Income Investors Due to this slowdown, NIO stock has suffered. Therefore, UBS believes the time to strike is now. UBS said Nios shares are currently undervalued , and investors should buy up before their price goes back up. UBS Analyst Paul Gong upgraded shares from hold to buy, with a price target of $32. Welltower (WELL) WellTower (WELL) logo displayed on a website and magnified Source: Shutterstock Welltower (NYSE: WELL ) invests in real estate and medical infrastructure , making them a great investment for wealth management or retirement. This company has a focuses on investing in hospitals and medical centers. Scotiabank analyst Nicholas Yulico recently upped the health care REIT to sector outperform from sector perform. According to the analyst, WELL is one company with a proven track record of investing in housing, and its prospects for growth are quite impressive. The annual FFO is expected to be over 17% from 2022 to 2023, which will beat analyst estimates. The analyst forecasts over 500 basis points of yearly occupancy growth for the next few years. He also expects the REIT to report operating income of 30% and occupancy of 88% by 2023. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS It doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 5 Stocks to Buy Now if You Believe in These Analyst Upgrades appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 28720.27, 30314.33, 29200.74, 29432.23, 30323.72, 29098.91, 29655.59, 29562.36, 29267.22, 28627.57
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-11-08]
BTC Price: 7459.69, BTC RSI: 74.02
Gold Price: 1281.60, Gold RSI: 51.10
Oil Price: 56.81, Oil RSI: 74.28
[Random Sample of News (last 60 days)]
Market Movers: Yahoo Finance breaks down early market action: Stocks are struggling to end the week on a positive note, but there were solid gains during the month of September overall. Meanwhile President Trump is expected to drum up support today for his massive tax plan. Yahoo Finances Alexis Christoforous , Jared Blikre , Justine Underhill , Seana Smith , Rick Newman and Dan Howley discuss the big stories of the day. Todays topics: Trump to promote tax plan in speech to manufacturer group Friday Dollar set for biggest weekly rise this year Breaking down consumer spending and inflation Hacked: Whole Foods restaurants and taprooms Tyson soars on positive outlook, job cuts Volkswagen charged $2.9B to cover more emissions scandal costs Google is building an Echo Show competitor: TechCrunch Zogenix up triple digits on successful drug test Global IPOs on course for the busiest year since 2007: EY South Korea to ban initial Bitcoin offerings Elon Musk wants to travel anywhere on Earth within an hour Musk unveiled a new plan to visit Mars within a decade NFL players, staff link arms during Thursdays national anthem SNES Classic on sale today Which smartphone camera is best? TWITTER POLL: Where would you rather go with $1,000 if @elonmusks space travel becomes a reality? -Anywhere on Earth in 1 hour -Mars -Ill stick to airplanes || Bitcoin is going bananas: Bitcoinon Friday morning soared by more than $500, crossing $5,800 for the first time and putting in a record high of $5,866 a coin, according to Bloomberg data. The cryptocurrency has since pared its gains, but it still trades up 3.92% at $5,626 a coin.
Friday's advance comes after Coinbase, a digital currency exchange, announced thatcustomers could instantly purchase bitcoinand other cryptocurrencies using a US bank account. Those customers previously had to wait several days before receiving their digital currency.
It has been a monster week for bitcoin, which has soared nearly 30% since last Friday's close. Itblew through the highly anticipated $5,000 levelon Thursday, just days after The Wall Street Journal reported thatGoldman Sachs was looking into setting up a bitcoin trading operation, and Morgan Stanley CEO James Gorman said thecryptocurrency was "certainly more than just a fad."
But things didn't look too promising in September. News of acrackdown on trading in Chinaand regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method, pushed the cryptocurrency to a low of $2,900 a coin on September 15.
Neil Wilson, a senior analyst at ETX Capital, told Business Insider on Thursday that "bulls returned to the market with a vengeance."
Bitcoin is up about 476% this year.
(Markets Insider)
NOW WATCH:Gary Shilling calls bitcoin a black box and says he doesn't invest in things he doesn't understand
More From Business Insider
• Bitcoin hits a record high above $4,900
• Bitcoin is closing in on its all-time high
• KEN ROGOFF: Bitcoin will eventually collapse || Russian authorities agree to regulate crypto-currency market: MOSCOW (Reuters) - Russian authorities have agreed to regulate the crypto-currency market and hope to set out how this regulation will work by the end of the year, Finance Minister Anton Siluanov said on Wednesday. Crypto-currencies such as bitcoin enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system. They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide. But banks have mostly steered clear of crypto-currencies, and some governments and central banks have been strongly critical of them. On Tuesday President Vladimir Putin chaired a meeting of senior Russian officials on the issue, and said the crypto-currencies were risky and used for crime. Russia's central bank has said it would block websites selling bitcoin and its rivals to households. "The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues," TASS news agency quoted Siluanov as saying on Wednesday. "That's why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control," said Siluanov, who attended Tuesday's meeting with Putin. Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. Siluanov said his ministry would work with the central bank on regulating crypto-currencies in Russia. Siluanov's deputy Alexei Moiseev said on Wednesday that Russia's Federal Tax Service could also be involved as Moscow wants to collect taxes from those who mine crypto-currencies. Bitcoin, the most well-known virtual currency that emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits. One bitcoin last traded at around $4,762 (BTC=BTSP), up from its initial price of less than $1. (Reporting by Andrey Ostroukh, Polina Nikolskaya and Elena Fabrichnaya; Editing by Gareth Jones) || Microsoft Corporation (MSFT) Stock Could Return 1,400% After Earnings: It’s time to talk Microsoft Corporation (NASDAQ: MSFT ) earnings. Yes, Microsoft’s fiscal first-quarter 2018 earnings report is still a little more than a month away, but if you’re a Microsoft stock bull, there’s an excellent opportunity for huge returns just waiting in the October options series. Microsoft Corporation (MSFT) Stock Could Return 1,400% After Earnings Source: Shutterstock Before we dive into the trade, let’s take a look at why you should be a MSFT bull right now. Microsoft stock is in the midst of a strong year-long rally along support at its 20-day and 50-day moving averages. Throughout this rally, MSFT has taken out several key resistance levels, including its recent break above $75 into fresh all-time high territory. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The 7 Best Dow Jones Stocks to Buy Today What’s more, the shares are far from overbought, meaning that there is plenty of room left for more buyers to join the fray, thus extending Microsoft’s rally. From the fundamental side, Microsoft has topped Wall Street’s estimates in each of the past five reporting periods. Looking at the coming first-quarter report, analysts are looking for a profit of 71 cents per share on revenue of $23.46 billion. With continued dominance in web services via its Azure platform, and cyclical demand for PC and server hardware, Microsoft should once again top expectations when the company reports on Oct. 26. Turning to the sentiment front, MSFT remains a bullish favorite on Wall Street. Thomson/First Call reports that 25 of the 34 analysts following Microsoft stock rate the shares a “buy” or better — a reading that has dipped slightly over the past two months. Meanwhile, the 12-month price target rests at $80.70, leaving room for potential price-target increases following another solid quarterly report. As for MSFT options traders, bulls abound in the October series. Specifically, the Oct. 27 put/call open interest ratio currently sits at 0.42, with calls more than doubling puts among near-term options. Implieds, meanwhile are pricing in a potential post-earnings move of about 5.2% for Microsoft stock. This places the upper bound at $79, with the lower bound coming in near $72. Implieds are currently trading near historical levels for MSFT stock, meaning that options are pretty fairly priced. 2 Trades for Microsoft Stock Call Spread: Those looking to bet on a continued run higher for Microsoft might want to consider an Oct 27 $77/$77.50 bull call spread. At last check, this spread was offered at just 3 cents, or $3 per pair of contracts. Story continues Breakeven lies at $77.03, while a maximum profit of 47 cents, or $47 per pair of contracts — a potentially whopping 1,466% return — is possible if MSFT stock closes at or above $77.50 when Oct 27 options expire. What’s even better is that this spread lies well within MSFT’s current expected move prior to expiration. Sell Advanced Micro Devices (AMD) Stock While You Can Put Sell: If a more neutral-to-bullish stance is more your speed, then an Oct 27 $70 put sell position has an excellent chance at finishing out of the money. At last check, this put was bid at 50 cents, or $50 per contract. On the upside, traders will keep the initial premium received as long as Microsoft stock closes above $70 when Oct 27 options expire. The downside is that should MSFT trade below $70 ahead of expiration, traders could be assigned 100 shares for each sold put at a cost of $70 per share. As of this writing, Joseph Hargett did not hold a position in any of the aforementioned securities. More From InvestorPlace 5 of the Toughest Stocks to Withstand a Downturn Can Nvidia and AMD Beat the Bitcoin slump? 7 Dependable Mutual Funds for Retirement The post Microsoft Corporation (MSFT) Stock Could Return 1,400% After Earnings appeared first on InvestorPlace . View comments || Making Noise: Bitcoin Price Looks Higher as Global Volumes Grow: Bitcoin's rally is showing no signs of abating.
Prices surged to record levels on the CoinDesk Bitcoin Price Index (BPI) yesterday, with the world's largest cryptocurrency clocking a new all-time high of $6,306.58. With the push, bitcoin passed its previous high of $6,183 set on Oct. 21. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $6,218.
As for why the price is trending higher, it seems there was an absence of strong news drivers. However,trading volumesin the BTC/USD pair jumped 103 percent on Sunday – indicating that the rally, fueled by trading activity, looks sustainable.
Volumes jumped to two-week highs on Sunday, and remain well below the Oct 13. high and the 2017 peak registered on Sept. 15.
Further, it's worth noting that volumes appear to be coming from a variety of markets – adeeper look at the volume activityindicates the jump to record high has been fuelled by U.S. dollar, Korean won and Japanese yen trading.
The above chart shows:
• Bullish rising channel breakout (bitcoin price closed above the upper end/ceiling of the rising channel on Sunday).
• However, a move above 100 percent Fibonacci extension level of $6,196.81 was short lived. The first attempt to cut through the key Fib. level had failed on Oct. 21.
• The relative strength index (RSI) is close to overbought level, but it is still sufficiently away from the October highs.
• Bitcoin is up 500 percent on a year-to-date basis. Thus, there is always a possibility of a healthy technical correction.
• Only a break below the rising trend line (dotted blue line) would warrant caution.
• On the higher side, the psychological level of $6,500 could be put to test if the cryptocurrency spends the next 12 hours or more building a base around $6,200 levels.
Bearish Scenario:Only a drop below 10-day MA in the next 24 hours would open doors for a re-test of last week's low of $5,376.
Mixing boardvia Shutterstock
• BTC to DLT: Why Aren't Banks Giving Blockchain Startups Accounts?
• Politician Ron Paul: US Government Should 'Stay Out' of Bitcoin
• $6,300: Bitcoin Price Hits Record High
• Desperately Seeking Devs: How to Fill Bitcoin's Talent Shortage || Petroteq Energy, Inc. and First Bitcoin Capital Corp. Announce Blockchain-based Initiative to Optimize Oil & Gas Supply Chain Management: STUDIO CITY, CA--(Marketwired - Nov 6, 2017) - Petroteq Energy, Inc. (TSX VENTURE:PQE) (OTCQX:PQEFF) (FRANKFURT:MW4A) today announces a co-development agreement with First Bitcoin Capital Corp. (OTC:BITCF) in which the companies will develop a new supply chain management platform based on advanced blockchain technology to be used in the global oil and gas industry.
Per the agreement, Petroteq and First Bitcoin Capital will share industry experience and financial and technological resources with the intent to develop and operate an enterprise-grade, blockchain-based platform that will enable oil and gas companies globally to conduct transactions.
"Oil and gas companies could benefit from blockchain technology for a range of applications, from optimizing efficiency to transparency in business transactions to securely storing inventory data on the blockchain. In the last few years, the industry has struggled with price volatility and production levels, which has led to cost-cutting efforts, reduced outputs and layoffs. These challenges have prompted many companies to rethink how they operate and to identify new ways to optimize supply chain management and transaction processing. As such, blockchain is gaining traction and broader acceptance by oil and gas industry for its potential to fundamentally change the way certain transactions are conducted," says Greg Rubin, CEO of First Bitcoin Capital.
The oil and gas industry is involved in an extensive global supply-chain that includes domestic and international transportation, ordering and inventory management and control, materials handling, import/export facilitation and information technology. A recent Deloitte industry report, titled, "Blockchain: Overview of the Potential Applications for the Oil and Gas Markets and the Related Taxation," notes that transaction verification for product trades and transfers can be instantly verified across a network without reliance on a central authority, potentially reducing operating costs, more securely storing and managing data, and improving the speed of transaction processing on the blockchain.
"As a company focused on the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils, we understand the importance of developing new technologies, especially blockchain-based innovations, to help companies in our industry to get competitive advantage and cost efficiency," says Petroteq CEO Alex Blyumkin.
Technology executives in oil and gas companies can consider the following key areas in determining whether and how blockchain technology could be of benefit:
Transparency and Compliance:Blockchain, by design, should enable greater transparency and efficiency. Sharing digital blockchain information in joint-operating agreements could reduce, if not eliminate, the need for reconciliations between companies and for data hubs controlled by third parties. This could completely disrupt the current processes for balloting partners on new projects, performing joint interest billing, and reporting production revenue.
Smart Contracts:The sheer size and volume of contracts and transactions necessary to execute capital projects in oil and gas have historically caused significant reconciliation and tracking issues among contractors, subcontractors, and suppliers. They also pose significant challenges in managing logistics for supplies, tracking costs, and deploying inventory. Using blockchain, however, companies could generate cascading purchase orders, change orders, receipts, and other trade-related documentation and data on inventory by following specific codified rules. Drafting agreements that afford new tracking, bookkeeping, and automation methodologies could create a more efficient supply chain, improve capital project spend analytics, and simplify contractual obligations. Simply put, this potentially game-changing technology will provide knowledge of who gets paid how much, as well as insight into who along the chain is performing as explicitly mandated by agreements.
Trading and Third-party Impacts:Blockchain technologies are beginning to disrupt and open energy trading markets. Boundaries between asset classes could blur as cash, energy products, and other commodities become digital assets that trade interoperably. Blockchain-enabled applications can also address issues such as reduced brokers' fees; reducing fraud, error and otherwise compromised transactions; and limiting credit risk and transaction capital requirements. By trading physical commodities on a blockchain solution, commodity traders could benefit from increased speed of exchange, improved availability of data, and enhanced reliability and auditability as records are verified in near real-time. Ultimately, this could result in minimizing transaction backlogs and overall costs.
In the oil and gas industry -- with its global reach, complexity, and dizzying array of national regulations and restrictions -- simplifying and improving the paperwork and processes of global product movement is a high priority. With a compelling value proposition, many oil and gas companies may look to explore, invest in, and collaborate with partners on developing blockchain initiatives.
About Petroteq Energy, Inc.
The Company is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. Under a joint venture agreement with Recruiter.com and Oilprice.com, we anticipate that the website offering employment opportunities in the Energy sector will be launched in the month of November 2017. Petroteq is also developing technologies to optimize petrochemical industry workflow processes and will bring a team of professionals to expedite the process.
For more information, visitwww.PetroteqEnergy.com
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary blockchain technologies, and the digital currency exchange --www.CoinQX.com(in beta). We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.
For more information visitwww.BitcoinCapitalCorp.com
Forward-Looking Statements
Certain statements contained in this press release contain forward-looking statements within the meaning of the U.S. and Canadian securities laws. Words such as "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, including TSX Venture Exchange approval of the issuance of shares, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, based on information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. While forward-looking statements are based on data, assumptions and analyses that the Company believes are reasonable under the circumstances, whether actual results, performance or developments will meet the Company's expectations and predictions depend on a number of risks and uncertainties that could cause the actual results, performance and financial condition of the Company to differ materially from its expectations.
Certain of the "risk factors" that could cause actual results to differ materially from the Company's forward-looking statements in this press release include, without limitation: the TSX Venture Exchange not approving the issuance of shares; changes in laws or regulations; the ability to implement business strategies or to pursue business opportunities, whether for economic or other reasons; status of the world oil markets, oil prices and price volatility; and oil pricing; state of capital markets and ability by the Company to raise capital; litigation; the commercial and economic viability of the Company's oil sands hydrocarbon extraction technology, the SWEPT technology, the S-BRPT technology, and other proprietary technologies developed or licensed by the Company or by Accord which are of experimental nature and have not been used at full capacity for an extended period of time; reliance on suppliers, contractors, consultants and key personnel; the ability of the Company and Accord to maintain their respective mineral lease holdings; potential failure of the Company's business plans or model; the nature of oil and gas production and oil sands mining, extraction and production; uncertainties in exploration and drilling for oil, gas and other hydrocarbon-bearing substances; unanticipated costs and expenses, availability of financing and other capital; potential damage to or destruction of property, loss of life, and environmental damage; risks associated with compliance with environmental protection laws and regulations; uninsurable or uninsured risks; potential conflicts of interest of officers and directors; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ending August 31, 2016, filed with the securities regulatory authorities in certain provinces of Canada and available atwww.sedar.com.
Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. || Pres Trump set to unveil new tax plan: Stocks are looking to start the day in the green, but it’s tax reform that’s on everybody’s mind. President Donald Trump is expected to unveil his tax plan at an event later today. Yahoo Finance’sAlexis Christoforous,Jared Blikre,Justine Underhill&Rick Newmandiscuss the big stories of the day.
Today’s topics:
• Trump, GOP to unveil tax plan today
• Analyzing the latest on durable goods
• Nikesales soar in China, fall in North America
• Micronsoars on earnings beat
• Twittertests 280 character limit with select users
• AmazonandGooglebattle over YouTube
• DirecTVto offer some refunds for NFL Sunday Ticket package
• Ford, Lyft to develop self-driving cars together
• Millennials face big challenges in tough housing market
TWITTER POLL:How would you like to be able to pay your taxes?•Bitcoin•gold•check•pennies || Bitcoin soars to record high above $6,000: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies. The original virtual currency has gained over 500 percent this year, more than any other tradable asset class. Bitcoin though is very volatile - posting gains and losses as high as 26 percent and 16 percent respectively on any given day. On Friday, bitcoin hit a record peak $6,000.10 (BTC=BTSP) on the BitStamp platform, and was last at $5,964.24, up 4.7 percent on the day. Bitcoin is a digital currency that can either be held as an investment, or used as a foundation for future applications through the blockchain, its underlying technology. The blockchain is a digital ledger of transactions. It is more scarce though than most people realize. The number of bitcoins in existence is not expected to exceed 21 million. Analysts said it was a combination of factors that drove Friday's surge in price. Charles Hayter, co-founder of data analysis website Cryptocompare in London said hopes that China will soften its regulatory stance on crypto-currencies helped bitcoin's cause. "As China ... fears fade, the price is unlocked and driven by demand and buyers entering the markets," said Hayter. Over the summer, China has banned the practice of raising capital through the sale of tokens to the public in what is known as initial coin offerings. It has also ordered the shutdown of digital currency exchanges. But many in the market believe the Chinese ban is temporary. "China would not want to be left out of the digital currency market nor the development of blockchain applications in general," said Jason English, vice president of Protocol Marketing, at Sweetbridge, a global alliance in Zug, Switzerland that aims to use blockchain to create a liquid supply chain. Story continues "As much as 60 percent of the world's bitcoin mining is happening in China, and therefore, many of the large ... investments in ICO projects have also been coming from crypto-currency holders in China, whether directly or indirectly," English added. Sean Walsh, a partner at venture capital firm Redwood City, Ventures in Redwood City, California, also believes investors have been going back into bitcoin given the still uncertain global regulatory environment on crypto-currencies. A big part of bitcoin's recent surge was the ICO craze, which exploded this year. Bitcoins and ether, another digital currency, are used to purchase tokens for ICOs. (Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft) || Barron's Picks And Pans: Spark Therapeutics, Six Flags, Oracle And More: "Gene Therapy Is Nearing a Major Breakthrough," the latest cover story by Andrew Bary, points out therapies that replace faulty genes with healthy ones to cure deadly diseases are generating exciting lab results. How can investors play this trend? Three featured stocks have a stake in this medical breakthrough. See the outlook for Spark Therapeutics Inc (NASDAQ: ONCE ) and the others. Bill Alpert's "Will Investors' Six Flags Thrill Ride End" suggests that the stock of this theme-park operator may have seen a peak. Six Flags Entertainment Corp (NYSE: SIX ) has enjoyed rising shares, big payouts and stock buybacks, but the company now faces more competition and slower growth. See what Barron's feels are the prospects as Six Flags and its competitors as they look abroad for growth. In "Oracle Turns Its Sights on the Cloud–at Last," Jack Hough makes a case that this database giant has been slow to build a cloud business, but Oracle Corporation (NYSE: ORCL ) has picked up the pace now. And a retreat in the shares offers a buying opportunity for investors, says Barron's, as the company's transformation continues apace, even as its lucrative legacy business is stabilizing. See also: September Is Called The 'Banana Peel' Month For Stocks; Here's Why As everyday items get "smart," the technology around artificial intelligence gets more real, according to "The Natural Evolution of Artificial Intelligence" by Tiernan Ray. The rising stars in this drama include programmable chip maker Xilinx, Inc. (NASDAQ: XLNX ) and chip design software provider Cadence Design Systems Inc (NASDAQ: CDNS ), as well as many others. In Lawrence C. Strauss', "Beware, Income Investors," see why Barron's claims that consumer discretionary stocks are more volatile and lower-yielding than staples shares, but they often have stronger rebounds. Among those with yields more generous than average are automakers Ford Motor Company (NYSE: F ) and General Motors Company (NYSE: GM ). Also In This Week's Barron's Barron's Penta monthly. Warren Buffett predicts Dow 1,000,000. Aircraft makers and suppliers face off. The coming of Bitcoin exchange-traded funds. The credibility of the Republican tax cut plan. Puerto Rico bonds after Hurricane Maria. Whether Facebook Inc (NASDAQ: FB ) faces a government crackdown. Charts that could signal the end of the stock rally. The Greta Garbo of private banking. Related Link: This App Is Trying To Make Saving As Easy As Spending See more from Benzinga Barron's Picks And Pans: Harvey Stocks, Nathan's Famous And The End Of The Bull Barron's Ponders The Future Of Netflix Barron's Picks And Pans: Citigroup, Honeywell, Twitter And More © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin is a huge scam, ‘Wolf of Wall Street’ says: Jordan Belfort, ‘Way of the Wolf’ author and the original “Wolf of Wall Street”, is speaking out on Bitcoin, warning investors of the speculation surrounding the cryptocurrency.
According to Belfort it isn’t Bitcoin itself that is the issue, but the fever pitch surrounding the cryptocurrency’s trading, telling the FOX Business Network’s Stuart Varney, “People all over the world who know nothing about what they’re buying, they’re just operating with the greater fool theory, meaning if there’s someone more foolish than me, you’ll buy it a higher price than it’s a great price where it is. There’s no value, it’s just pure speculation.”
Belfort compared the trading of Bitcoin to the mortgage market before the financial crisis.
“It reminds me exactly of 2005, 2006 in the mortgage market when you’re getting your haircut and your haircutter says ‘oh, I also sell mortgages now...,’ it’s like everybody and their grandma became involved in real estate and mortgages, that’s what’s happening with Bitcoin.”
Belfort sees a potential Bitcoin bubble ahead, saying on “Varney & Co.,” “It’s not at the top yet, so it could go higher for all I know, but in the end after enough people have bought and you can’t support the bubble it’s going to crash so hard and fast.”
Though Belfort raised concerns about the trading of Bitcoin, he said he isn’t opposed to the idea of a cryptocurrency.
“My point is not that the fundamental idea of a cryptocurrency is bad. I think it’s a good idea, but what’s run amuck right now is people using it as, it’s turned to speculation and people are going to get destroyed.”
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[Random Sample of Social Media Buzz (last 60 days)]
#RT World govts fear Bitcoin because they can’t tax it - John McAfee: Cryptocurrencies have captured the attention… http://dlvr.it/PtVbt8 pic.twitter.com/27K9bj4eCs || Price of 1 ETC to USD: $12.37 (Change: -0.24 %)
Price of 1 ETC to BTC: 0.00269664 Ƀ (Change: -0.5 %)
#ethereumclassic #etc $etc || I completely agree with the writer. Dump your #BitcoinGold as soon as you get it #bitcoin #ethereum #crypto https://www.reddit.com/r/CryptoCurrency/comments/757jf4/here_is_why_bitcoingold_is_shady_and_a_scam_you/ … || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || RT StakepoolCom "Beer&Bitcoin 2 - Why we are against cloud mining and Bitconnect Check it out! http://ift.tt/2wFur3y #cryptocurrency #st… || Bitcoin: ¿Por qué invertir en la moneda del futuro? #Moneyhttps://goo.gl/aB2GHU || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || RT StakepoolCom "Free Bitcoin No cost every hour Check it out! http://ift.tt/2z8jOZ1 #cryptocurrency #steem #blockchain" || @Crytomania I want to sale my hashflare account with SHA-256 contracts 80 Th/s at 2.00 Btc urjent sale || #bitcoin non si ferma più? Analisi tecnica
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Trend: up || Prices: 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-08-15]
BTC Price: 10311.55, BTC RSI: 44.44
Gold Price: 1519.60, Gold RSI: 78.56
Oil Price: 54.47, Oil RSI: 46.36
[Random Sample of News (last 60 days)]
Market Volatility Has Eased But Demand for Protective Assets Remains Strong: The official yuan exchange rate is set at 7.0211 compared to the offshore rate at 7.09. At the same time, there is still demand for safe havens: USDJPY trades at 105.40 – at lows since March 2018; USDCHF – at 0.9710, which is the lowest level since September 2018. Gold retreated somewhat below $1500 but remains close to six-year highs. The Australian and New Zealand dollars have been declining against USD since this morning, but they have reversed the losses following the stabilisation of the markets. “Pound pounded” GBPUSD closed the week at 1.2027, the lowest close of the day since 1985 on the background of intensifying fears of Brexit without a deal. Sterling has fallen to its lowest level against the euro since 2009. The new wave of decline was triggered by the comments of the new Foreign Secretary Dominic Raab, that the exit without a deal gives Britain an opportunity to bargain in the future. The pound sells against the dollar and the euro, while the forecasts for a possible reaching of 1.10 against the dollar and parity with the euro sound louder and louder. Stocks are recovering The U.S. S&P500 quickly bounced back last week after touching the 200-day average, but the recovery was stalled on the way to the 50-day average of 2925. The dynamics above this level can be a very clear signal of the market optimists’ dominance. However, the markets are cautiously looking towards a possible further escalation of the trade disputes, which may lead to a new wave of selloffs in the markets. The current situation on the markets can be characterised as the centre of the storm – a short moment of calm between the bursts of market fears. EURUSD The single currency still fluctuates in a narrow range around 1.1200 . By the end of the week, the fluctuation amplitude was decreasing, reflecting the consolidation of the markets before a possible new breakthrough. Such a calmness can also be explained by the summer lull, which reaches its maximum in August. After the explosion of volatility in the previous two weeks, EURUSD markets may try to find a balance before the end of the month. Story continues This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 12/08/19 Stellar’s Lumen Technical Analysis – Support Levels in Play – 12/08/19 A Lack of Stats Leaves Market Focus on Trade and Italy Geopolitical Risk and the Never Ending Cycle of Drama EUR/USD Mid-Session Technical Analysis for August 12, 2019 Price of Gold Fundamental Weekly Forecast – Pay Attention to Yuan, Global Bond Yields || Bitcoin’s price jumps $1,000 in 20 minutes: The price ofbitcoinhas risen by $1,000 in just 20 minutes, sending it above $10,000. It is now sitting at $10,374, at the time of writing.
As a result, many traders were liquidated on crypto leverage trading platformBitMEX. According toDatamish, a crypto analytics company, nearly $58 million in bitcoin short positions on the platform were liquidated during the bitcoin pump. In contrast, just $20 million in long positions were liquidated a few hours earlier when the price was sliding downhill.
According toBitcoinity, a market watching website, there was a big spike in trading volume during this price rise. More than 3,900 bitcoin was traded in one minute at 15:36, mostly in USD, worth $37 million across the crypto exchanges it accesses. To put this in perspective, just ten minutes earlier, less than 100 bitcoin was switching hands per minute. The reason? Take your pick: A whale offloading currency?Tetherbegins printing Tethers? Bitcointalked aboutin the Senate? Mike Dudas telling his following to buy bitcoin? Who knows.
What we do know is The Block’s Mike Dudas tweeted this morning that he believes the price of bitcoin is primed to go up, and recommended to his followers that they buy bitcoin. At the time, the price was just $9,700.
Forget the McAfee effect—or the Coinbase effect—is it time for the Dudas effect? || Bitcoin peer-to-peer trading is on the rise says new report: Its been a good year so far for Bitcoin trading, according to a new report from peer-to-peer exchange Paxful . The average monthly trading volume for Bitcoin on Paxful in the first half of 2019 broke $65 million, the company claims in its latest report, which is nearly double the trading volume that the company reported during the same time period in 2018. And that boost, it appears, can be largely attributed to the companys expansion into emerging marketsspecifically, countries within Africa. Apart from the United States, which still makes up the majority of P2P bitcoin trading volume on the U.S.-based exchange, countries such as Nigeria and Ghana are leading the latest surge. Nigeria and Ghana are in our top markets, and these markets have seen the entrepreneurial opportunities bitcoin and P2P can offer, Paxful CEO Ray Youssef said in an interview. As for why people in these countries would benefit from exposure to Bitcoin, Youssef explained that Nigeria and Ghana are both countries with limited banking resources and broken financial systems. At the moment, however, even crypto is hard to come by in places such as Nigeria, which is where peer-to-peer trading comes in. Coinbase banned the Nigerian people from engaging in any fiat conversions, and provided only limited use of their bitcoin wallet, Youssef said. And PayPal also restricted their services to [people in Nigeria]. Earlier this year, Paxful announced a partnership with crypto exchange AirTM to expand its operations into both Latin America and Africa. Paxful users in these markets can now use the Mexico-based AirTM service which already has a sizable footprint in Latin American markets specificallyas a payment method to fund their bitcoin accounts. Like AirTM, Paxful is now making a concerted effort to bring its trading platform to the developing world. The idea being that by using cryptocurrency, individuals in these countries can gain access to financial services that they would otherwise be denieda way to bank the unbanked, not unlike the use case pushed by Facebooks Libra project. Story continues Donald Trump blasts Bitcoin, Facebooks Libra in Twitter tirade Facebook, which unveiled its cryptocurrency plans in June , has already drawn heat from regulators and government officials around the world including President Donald Trump himself. Despite its stated mission to expand financial access to the far reaches of the globe, its reputation as a company that is recklessly cavalier with its customers data is driving government authorities to attempt to put a stop to Libra before it starts . Nevertheless, the newfound attention that Facebook is bringing to the crypto industry is generally a good thing, said Youssef, and an important reason why Paxful has experienced the increase in trading volume that it has, he said. Apart from the increase in price volatility of digital currencies in Q1 2019, which traders generally love, its big tech brands, such as Facebook and Samsung, and their forays into crypto thats currently driving growth, according to Paxfuls CEO. Said Youssef: In our view, crypto and bitcoin are finally gaining a good reputation because of such efforts. || Forex Daily Recap – Fiber Looking for Recovery as ECB Plans for Monetary Easing: After maintaining a steady downtrend for the last six sessions in a row, theFiberbulls attempted for an upward drift today. However, a major counter trendline confined the pair’s upside, disallowing above 1.1187 level. Even if the pair had made a triumphant march, breaching this counter trendline, then the overhead SMAs would have got activated. The ECB Monetary Policy decision remained at the center stage throughout the day. Today, though the policymakers decided to keep the interest rates unchanged, the future guidance revealed more Quantitative Easing. The ECB minutes read that the bank would prepare for more policy easing in the guidance plan. Along with that, the bank would also encourage the purchase of more bonds.
The Governing Council has tasked the relevant Eurosystem Committees with examining options, including ways to reinforce its forward guidance on policy rates, mitigating measures, such as the design of a tiered system for reserve remuneration, and options for the size and composition of potential new net asset purchases,” the ECBsaidin a statement.
Later, after the bank’s policy meeting, ECB President Mario Draghi mentioned some dovish stances on the economic outlook. Draghi highlighted that the rebound estimated to come in the second part of the year came out unreal. And, the President added that the incoming signs only showcased more weakness.
TheAussie pairhad managed to stay within a more-than-a-month old uptrend channel until today. Notably, the tumbling rally triggered on July 18 possessed significant power that allowed the bears, to make happen this breakdown. Also, the Relative Strength Index (RSI) had drenched beneath 27 lowest levels, luring the sellers.
The RBA had come up with reductions in the interest rates twice since June, setting the interest rates to an all-time low of 1%. The policymakers mentioned that such a stance was taken, aiming to improve the overall economic growth and inflation rates. Today, RBA Governor Philip Lowesaid, “Whether or not further monetary easing is needed, it is reasonable to expect an extended period of low interest rates.”
After taking a bounce off the 1-month old ascending slanting support line on July 18, the Greenback had undertaken the risk to test a major counter trendline. On July 22, theUSD Indexhad managed to cross above the aforementioned barrier. Even today, the uptrend remained intact. However, the USD Index had to take some extra efforts while handling the robust 97.77 resistance.
At 16:56 GMT, the Greenback had almost breached the 97.77 level, moving above, marking daily high near 97.86 level. The US economic docket remained positive on Thursday with upbeat Jobless and Durable Goods data. The most crucial June Non-Defense Capital Goods Orders that excludes Aircraft reported 1.7% higher than the market expectation of around 0.2%.
Three days back, theUSD/HKDpair had taken the initiative to make a breakthrough out of a major counter trendline. Following such a splendid breakout, the bulls appeared to remain quite entertained in the last few sessions.
However, the sturdy 7.8158 resistance handle restricted the pair’s upside today. This resistance handle had even played the role of a support line multiple times, earlier this month. Also, needless to mention, the firm support line stalled near 7.8016 level would have taken care of any substantial downfall in the pair.
The article was written byBharat Gohri, Chief Market Analyst ateasyMarkets
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/07/19 || Consumer ETF Strategies That Have Avoided the Retail Slump: This article was originally published on ETFTrends.com. The retail sector has been falling behind in the S&P 500 for the first half of the year and the trend doesn't seem to be shifting anytime soon. Nevertheless, there are some alternative retail sector-related exchange traded fund strategies that have stood out. Four of the five worst-performing S&P 500 stocks in the first half of the year were retailers, The Wall Street Journal reports . Dragging on the retail segment, many consumers have been shunning more traditional brick-and-mortar retailers in favor of businesses that have more quickly adapted to e-commerce or online retail businesses. Declining foot traffic is putting pressure on companies like Nordstrom and Kohl's. Many say that “retail is dead” as the slump for companies that are more firmly in the bricks-and-mortar space doesn’t appear to be letting up anytime soon. Nevertheless, we have witnessed increased opportunity in online retail or e-commerce stocks and ETFs. With the increased popularity of e-commerce and the decline of traditional brick-and-mortar shops, investors can capture this growing trend through an ETF. For example, the ProShares Decline of the Retail Store ETF ( EMTY ) and ProShares Long Online/Short Stores ETF ( CLIX ) both take a short position in brick-and-mortar retail stores to capitalize on weakness in traditional stores. Meanwhile, the ProShares Online Retail ETF ( ONLN ) takes on a long position in online retailers. The Amplify Online Retail ETF ( IBUY ) has been a popular thematic play that targets global companies that generate at least 70% of revenue from online or virtual sales. As the market environment shifts and changes, investors may also have the opportunity to capitalize on the growth potential of the e-commerce segment. Additionally, Amplify recently expanded its line with the Amplify International Online Retail ETF ( XBUY ) . XBUY is an index-based ETF that takes on foreign companies or those outside the U.S. that are expected to benefit from the increased adoption of e-commerce around the world. Story continues For more information on the retail sector, visit our retail category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Markets Rally On Anticipated Rate Cuts And Holiday Facebook Libra: Weighing The Pros And Cons As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow GLDM Marks One Year Anniversary Today, Leads Gold-Backed ETF Flows ROBO Global Healthcare Technology ETF Debuts on NYSE READ MORE AT ETFTRENDS.COM > || Key Bitcoin Price Indicator Suggests $21,000 ‘Fair Value’ By End Of 2019: The bitcoin ( BTC ) price is unlikely to break $40,000 in 2019, Bitcoin Knowledge podcast host Trace Mayer declared as part of new analysis on June 24. Uploading fresh readings from his price forecasting tool, the ‘Mayer Multiple,’ the serial commentator and bitcoin proponent said that current trajectory should favor an end-of-year bitcoin price of $21,000. This, while below the estimates of other industry figures such as Fundstrat’s Tom Lee , still places the largest cryptocurrency ahead of its record high set in December 2017. The Mayer Multiple is a calculation achieved by dividing the current bitcoin price by its 200-day moving average. Currently at 2.09, the metric has only seen higher readings 14.79% of the time, meaning that a giant leap to $40,000, in particular, is unwarranted. “...Very low probability of $40k in a few months,” Mayer summarized. As Cointelegraph reported , bitcoin succeeded in retaking the $10,000 barrier late last week, only to go on past $11,000 within 24 hours. The performance buoyed analysts, many of whom considered $10,000 to be a watershed moment. Investors waiting on the sidelines, they argued, would jump on board once five figures were reached, triggering a snowball upward price effect. At press time Monday, markets were nonetheless taking a break from bullish movement, BTC/USD settling at around $10,850. For the rest of the year and beyond, however, the Mayer Multiple considers moves through $15,000, $21,000 and then $30,500 to be probable. The first of these would nonetheless be “overvalued” should it hit in September, but thereafter, bitcoin would find its price niche. June 2020 should trigger the $30,000+ bitcoin, roughly a month after the next block reward size halving event. Related Articles: CEO of Major American VC Firm Digital Currency Group: Crypto Winter Is Ending Former Wall Street Exec Tone Vays: There Is No Evidence That the Crypto Winter Is Now Over Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run 4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time View comments || Bitcoin ban in India rumours labelled pathetic and corrupt as potential hoax heaps pressure on price slide: Bitcoins spectacular downward price slide has been pushed yet further by an entirely unconfirmed report that the cryptocurrency could be banned in India. What is claimed to be a leaked proposal for a bitcoin ban in India was labelled "pathetic and corrupt" by billionaire investor Tim Draper, who is a prominent bitcoin advocate. He was responding to reports of draft legislation that would allegedly impose a blanket ban on all cryptocurrencies in the country. "People behaving badly!" Mr Draper tweeted. "India's government banned bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India leadership. Pathetic and corrupt." His comments were triggered by an unverified document circulating on social media after it was posted by blockchain lawyer Varun Sethi. The document states: "No person shall mine, generate, hold, sell, deal in, issue, transfer, dispose of or use cryptocurrency in the territory of India." The document, which was first spotted by CoinTelegraph , makes one exception for this rule in the form of something called a "Digital Rupee". Other figures within the cryptocurrency community suggested that enforcing such a ban on a decentralised entity like bitcoin would be nearly impossible. "Banning mosquitos after a rain in the summer would stand a better chance of being enforceable," said John McAfee. People behaving badly! India's government banned Bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India leadership. Pathetic and corrupt. #India #bitcoin Tim Draper (@TimDraper) 17 July 2019 Whether or not a ban is ever implemented in India, the mere suggestion of it appears to have added to mounting downward pressure on the cryptocurrency market. Story continues The price of bitcoin has plummeted over the last 24 hours, losing nearly 15 per cent of its value and wiping more than $10 billion from its market cap . Other major cryptocurrencies to have suffered significant losses include ethereum and litecoin, which have both fallen by between 10 and 15 per cent since Tuesday. A document that appears to be draft legislation for a ban on bitcoin and other cryptocurrencies in India has been circulating on social media (Getty Images/iStockphoto) Mr Draper has previously hailed bitcoin for its potential to replace mainstream forms of currency, calling it earlier this year "one of the greatest technological advances that humanity has ever seen". The investor, who holds a significant share of bitcoin, recently stood by a claim made in 2018 that the cryptocurrency will reach $250,000 by 2023. || Fed Chair Compares Bitcoin to a Gold Alternative: This article was originally published onETFTrends.com.
Bitcoin has been dubbed "digital gold" by cryptocurrency and capital markets alike, but the leading digital coin was deemed as an alternative to the precious metal by Federal Reserve Chairman Jerome Powell. Furthermore, Powell likened gold to Bitcoin as a speculative form of value.
Additionally, the Fed chair was quick to dismiss digital currency as an alternative form of payment.
“Almost no one uses bitcoin for payments, they use it more as an alternative to gold,” Powellsaid. “It’s a speculative store of value.”
Powell said after his testimony to Congress recently that cryptocurrencies, Facebook's Libra project in particular, is a cause for concern.
“Libra raises serious concerns regarding privacy, money laundering, consumer protection, financial stability,” Powellsaid at a congressional committeeWednesday. “These are concerns that should be thoroughly and publicly addressed.”
The latest comments by the Fed chair come after French Finance Minister Bruno Le Maire said during a radio interview that Facebook's latest foray into digital currencies "must not happen."
Le Maire further said it was “out of the question” that Facebook's cryptocurrency would eventually become a “sovereign currency.” The Group of Seven (G-7) collective that includes France, the U.K. and U.S. is looking to set up a forum that will delve deeper into the risks of digital currencies and their impact on the current financial system under fiat currency.
Cryptocurrencies are riding the wave of positive news stemming from social media giant Facebook unveiling its cryptocurrency payment plan on Tuesday. Dubbed "Project Libra," the digital currency will feature partnerships with Visa and Mastercard.
The Facebook cryptocurrency news is setting the space abuzz with optimism as Bitcoin reached a high of $20,000 near the end of 2017 and fell over 70 percent since, but is climbing back to prominence again following this news. Despite pressure from governmental regulators for privacy issues, analysts are expecting this cryptocurrency offering will bolster Facebook's profile.
Meanwhile, gold could reach a peak of $1,440 by year's end, according to Westpac senior economist Justin Smirk.
“The big shift is for gold which we now expect to end 2019 at US$1,440/oz and end 2020 at $1,374/oz (they were US$1,330/oz and US$1,215/oz respectively),” Smirksaidin a report.
Traders can look to exchange-traded funds (ETFs) like theDirexion Daily Gold Miners Bull 3X ETF (NUGT). Additionally, short-term traders can also play theVanEck Vectors Gold Miners (GDX) and theDirexion Daily Jr Gold Miners Bull 3X ETF (JNUG).
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || Cardano Falls 10% In Bearish Trade: Investing.com - Cardano was trading at $0.054214 by 12:21 (16:21 GMT) on the Investing.com Index on Tuesday, down 10.15% on the day. It was the largest one-day percentage loss since July 14. The move downwards pushed Cardano's market cap down to $1.43536B, or 0.53% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B. Cardano had traded in a range of $0.054208 to $0.060657 in the previous twenty-four hours. Over the past seven days, Cardano has seen a drop in value, as it lost 29.19%. The volume of Cardano traded in the twenty-four hours to time of writing was $90.68577M or 0.13% of the total volume of all cryptocurrencies. It has traded in a range of $0.0542 to $0.0783 in the past 7 days. At its current price, Cardano is still down 95.98% from its all-time high of $1.35 set on January 4, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $9,950.5 on the Investing.com Index, down 6.45% on the day. Ethereum was trading at $208.30 on the Investing.com Index, a loss of 10.52%. Bitcoin's market cap was last at $180.21129B or 65.95% of the total cryptocurrency market cap, while Ethereum's market cap totaled $22.65915B or 8.29% of the total cryptocurrency market value. Related Articles Germany's Scholz sounds alarm on cryptocurrencies such as Facebook's Libra Senate to grill Facebook over plans for Libra cryptocurrency Litecoin Falls 11% In Selloff || Dogecoin Price Surges 37% Following Binance Listing Announcement: The price of the popular dogecoin cryptocurrency is surging after the announcement that it will soon be listed on the Binance exchange.
Binance said in asupport noticethat trading will open for dogecoin (DOGE) at midday (UTC) Friday.
The exchange will at launch offer trading pairs for DOGE against Binance coin (BNB) and bitcoin (BTC), as well as the stablecoins tether (USDT), Paxos standard (PAX) and USD Coin (USDC).
Related:Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving
Users can already deposit DOGE in preparation for trading, the exchange said.
The news has given a big boost to the price of DOGE, according todatafrom CoinMarketCap,
At press time, the cryptocurrency had surged by 37 percent to $0.004306.
Related:Bitcoin Eyes Independence Day Price Gains for Fifth Year Running
Explaining the listing in atweet, Binance CEO Changpeng “CZ” Zhao referenced dogecoin’s popularity, saying:
“This one is an exception, as there isn’t much new tech development (I guess it was never about the tech for this one). The users/community is large, and a famous “ex-CEO” (cough @elonmusk) helps!”
Back in April, soon after calling bitcoin “brilliant,” Tesla and SpaceX founder Elon Musktweeted“Dogecoin might be my fav cryptocurrency. It’s pretty cool.” He also briefly changed his Twitter bio to read: “CEO of Dogecoin.”
Doge dog image via the Dogecoin Foundation
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[Random Sample of Social Media Buzz (last 60 days)]
$EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Unbanked In NYC: How A Schoolteacher Is Bringing Cryptocurrency To The South Bronx | Crypto Briefing https://t.co/coE3OFKH2A https://t.co/Ji900e5fbd $btc #bitcoin #crypto https://t.co/QG1BL4Vojp || @muhdecentralize Most experts say that BTC is growing again . Smart traders use this private channel with market info . And it is free for one week !
Look --> https://t.co/bBaOzMcx94
⭕ 1604547068 || BTC上に上がる予感 || "There is only one reason for this"
cc @CryptoMessiah || You ought to Take your time to check this! The most gorgeous ever! #Shato || @castillo_as Mano o buscas un bot que te ayude con las señales de ordenes o aprendes como los hombres a interpretar señales, no todo es btc, esa es la medida pero las altcoins son donde se hace plática || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || People think Craig Wright is crazy to believe he can create a crypto that can't be used on the black market, but haven't done the research for themselves. Today i asked my weed guy, who accepts $BTC, if i can pay in $BSV. He laughed at me and called me a fucking retard! || Bitcoin uses more energy than the whole of Switzerland – and it’s getting worse https://t.co/3lV1QkriyU
|
Trend: down || Prices: 10374.34, 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-10-20]
BTC Price: 65992.84, BTC RSI: 78.50
Gold Price: 1784.10, Gold RSI: 54.97
Oil Price: 83.87, Oil RSI: 79.27
[Random Sample of News (last 60 days)]
'Exceptional Unit Level Economics': Analysts Initiate Coverage Of Dutch Bros Following Quiet Period: Dutch Bros Inc(NYSE:BROS) shares gained 15.7% on Monday, continuing the stock’s strong run following its September IPO.
Dutch Bros is off to a hot start to life on the public market and has now more than doubled its $23 IPO price.
In the second quarter of 2021, Dutch Bros reported $114 million in revenue, up 51% from a year ago. The company also turned a profit, a rarity for high-growth IPOs. In the second quarter, Dutch Bros reported $2.92 million in net income, up 10.6% year-over-year.
As of June, the coffee company had 264 franchised locations and 2017 company-owned locations in 11 different states. Impressively, same-store sales were even up 2% in 2020 during the COVID-19 pandemic.
Several of Dutch Bros’ IPO underwriters finally weighed in on the stock on Monday following a mandatory quiet period.
Voices From The Street:Bank of America analyst Sara Senatore said Dutch Bros has “exceptional unit level economics” and secular growth tailwinds.
“Dutch Bros’ beverage only product mix – including the proprietary Blue Rebel energy drink – translates into high gross margins while its level loaded day part mix maximizes labor efficiency; the net effect is Restaurant Level Margins (RLMs) of ~30%,” Senatore wrote in a note.
Barclays analyst Jeffrey Bernstein said Dutch Bros has impressive growth numbers and is operating in an attractive market, but its valuation is full after its post-IPOrun.
“Our value bias keeps us cautious today, though fundamentals are intriguing with a trio of comp, unit & margin, which makes a comparable peer group difficult to define,” Bernstein wrote.
Cowen analyst Andrew Charles said Dutch Bros is a rare compound growth story among small and mid-cap restaurant stocks.
“We believe long term comp upside can be achieved by the first inning of a digitally-native loyalty program that we expect to ultimately facilitate 1:1 marketing & mobile ordering,” Charles wrote.
Ratings And Price Targets:
• Bank of America has a Buy rating and $55 target.
• Barclays has an Equal Weight rating and $40 target.
• Cowen has an Outperform rating and $50 target.
Latest Ratings for BROS
[{"Oct 2021": "Oct 2021", "JP Morgan": "Barclays", "Initiates Coverage On": "Initiates Coverage On", "": "", "Overweight": "Equal-Weight"}, {"Oct 2021": "Oct 2021", "JP Morgan": "Piper Sandler", "Initiates Coverage On": "Initiates Coverage On", "": "", "Overweight": "Overweight"}]
View More Analyst Ratings for BROSView the Latest Analyst Ratings
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Highlights From CoinDesk’s Bitcoin for Advisors 2021: Crypto assets are here to stay. What began as some niche financial experiment has matured into a retail-driven bona fide market, garnering the interest of financial institutions and professionals alike. Bitcoin, the oldest and most secure crypto asset, has seen its highs and lows, as its price has plummeted and skyrocketed – seemingly all while you grabbed your morning cup of coffee. On Oct. 6, CoinDesk hosted its second annual Bitcoin for Advisors event to educate financial professionals on all things bitcoin. And while the focus remained bitcoin – hence the name – the conference also dabbled into some of the other parts of the larger crypto ecosystem, giving advisors a new understanding of bitcoin as an asset class and equipping them with the tools to do more research on their own. Subscribe to Crypto for Advisors , CoinDesk’s new weekly newsletter defining crypto, digital assets and the future of finance. Sign up here to receive it every Thursday. So why should advisors take a close look at crypto now? Well, according to Onramp Invest’s CEO Tyrone Ross the answer is simple: “If we’re going to see the next great lift in crypto assets, it’s going to come from the registered advisors space … it’s clear institution adoption has come after mass acceptance”. What bitcoin and digital assets mean for advisors And Bitcoin for Advisors’ first keynote speaker corroborated this story. Ric Edelman , the founder of Digital Assets Council of Financial Professionals, gave a lot of food for thought when discussing bitcoin and what this new digital asset class means for advisors. He made it clear that advisors cannot afford to be left behind and that they need to educate themselves on this new asset class. Edelman, who is famous for creating the 1% digital allocation strategy for bitcoin and digital assets, went on to demonstrate how getting advisors “off zero” upside far outweighed the potential downside. He went on to note his support of Gary Gensler’s recent actions as chair of the U.S. Securities and Exchange Commission, citing Gensler’s experience at MIT and stating, “We finally have adult supervision in the room” (though to be clear, this was not a slight at Gensler’s predecessor). Edelman was appreciative of Gensler’s breadth of experience in crypto and said that he looks forward to the clean-up that’s to come. Notably, Edelman doesn’t see the lack of full regulatory clarity as a reason for advisors to sit on the sidelines, believing that they have enough of a framework to work with. While Edelman may have been a tough act to follow, all of the speakers brought important insights for advisors. Max Schatzow , a shareholder at the law firm Stark & Stark, broke down compliance and what advisors can and can’t say to their clients, and Morgen Rochard of Origin Wealth Advisers LLC led an excellent discussion on bitcoin and practice management. Story continues Bitcoin’s obstacles and opportunities At the top of the hour, Bitcoin for Advisors featured financial planning nerd Michael Kitces in a fireside chat with Tyrone Ross, covering bitcoin’s obstacles and opportunities. Kitces isn’t quite completely sold on the bitcoin thesis; he holds a healthy dose of skepticism when it comes to the oldest digital asset in the ecosystem, and for good reason – the “holding” problem advisors have on how to integrate assets into their systems remains. Unless advisors are able to aggregate crypto held by their clients for tracking and reporting, the conversation remains somewhat bleak, Kitces said. Furthermore, he anticipated that advisors’ investments in crypto assets will much more likely happen in the format of an exchange traded fund ( ETF ) or a separately managed account (SMA) as opposed to trading individual coins, believing advisors to prefer more diversified baskets. Ross pushed back on the ETF bit, mentioning that fees would be quite expensive, and Kitces conceded that the cost might be prohibitive. And while Kitces remains skeptical about an asset that goes up solely because others are putting money into it, he positions himself and advises others to remain curious and keep an eye out as everything continues to unfold. For one thing, Kitces said he is certain that advisors, whether they hate or love bitcoin, can no longer afford to ignore the asset. Perspectives on advisor fees and continuing education Rounding out the end of the day were two of the most recognizable names on the advisor end: Grayscale and Coinbase. (Disclosure: Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.) In a redux of last year’s event, Grayscale CEO Michael Sonnenshein and Lauren Abendschein, Coinbase’s head of U.S. institutional sales, spoke together. From the onset, Sonnenshein came out strongly, saying that fees ought not to be the determining factor on whether an advisor breaks into the space. He noted that the fees will come down over time, but advisors should not let that be the reason they don’t consider bitcoin as part of their portfolio. Abendschein agreed on the fees, and went on to encourage advisors to continue educating themselves in the space, citing the sophisticated tooling being introduced to the market as an opportunity, as well as catching investors up to speed on the ever-expanding crypto landscape. Crypto moving forward And finally, in a closing keynote that can only be described as a history lesson rolled into an optimistic forward-looking take, Dani Fava , Envestnet’s head of strategic development, took advisors down memory lane to a time and place when only a select few institutions were able to trade stocks and how deregulation gave rise to the likes of Charles Schwab. She likened this history lesson to the current situation unfolding before our eyes: Crypto is cutting out the middleman, and if advisors don’t adapt, they will be left behind because their clients will keep building wealth without them. View comments || Dogecoin Rebounds As Support At 50 EMA Stays Strong: Dogecoin Moves Higher While Bitcoin Gets Back To $48,000 Dogecoin received strong support near the 50 EMA at $0.2670 while Bitcoin rebounded towards the $48,000 level after yesterday’s sell-off. Yesterday, Bitcoin made an attempt to settle below the 20 EMA at $47,000 after another attempt to get above the psychologically important resistance level at $50,000 yielded no results. Bitcoin failed to gain sufficient downside momentum and rebounded closer to the nearest resistance level at $48,000. In case Bitcoin manages to get back above the resistance at $48,000, it will have a good chance to get to another test of the resistance at $50,000 which will be bullish for Dogecoin and other cryptocurrencies. It should be noted that Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, continues to move lower. Currently, Bitcoin Dominance is trying to settle below multi-week lows at 43%. This move shows that traders’ interest in altcoins remains strong, which is bullish for Dogecoin. However, Dogecoin’s near-term dynamics will still depend on whether the world’s leading cryptocurrency manages to settle above the key resistance at $50,000. Technical Analysis Dogecoin failed to settle below the support at the 50 EMA at $0.2670 and rebounded towards the nearest resistance level at $0.2770. In case Dogecoin manages to settle above this level, it will head towards the next resistance which is located at $0.2860, although it can also face some resistance at the 20 EMA at $0.2830. A move above the resistance at $0.2860 will open the way to the test of the resistance at $0.29. If Dogecoin settles above $0.29, it will continue its upside move and head towards the resistance at $0.2950. On the support side, a move below the 50 EMA will push Dogecoin towards the support level at $0.2615. A successful test of this level will open the way to the test of the support at $0.2570. If Dogecoin declines below $0.2570, it will head towards the support at $0.2520. Story continues For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Daily Gold News: Tuesday, Aug. 31 – Gold Going Sideways Despite Rallying Stock Market NZD/USD Forex Technical Analysis – Sustained Breakout Over .7027 Could Fuel Rally into .7089 – .7093 Dogecoin Rebounds As Support At 50 EMA Stays Strong Gold Technical Analysis – How Do Professionals Trade Gold? The United States Will Become The Next Turf For Bitcoin Miners. Genesis Digital Acquires 20k BTC Miners Zoom Shares Slump Over 12% as Revenue Outlook Disappoints || Bitcoin Mining After the China Ban: US Dominance Is Set to Continue: Following China’s sweeping crackdown on the crypto industry, the U.S. has taken the bitcoin miningmantlefor the first time – and industry CEOs don’t see the trend stopping anytime soon.
“I foresee the U.S. continuing to play a leadership role in terms of share because of the jurisdiction,”Bryan Bullett, CEO of mining firm Bit Digital, said in an interview with CoinDesk. “Nobody wants to operate in a region where they face existential risks,” he added.
In fact, the Bitcoin network’s hashrate, the measure of computational resources used to conduct mining activities, has recovered from its July lows, even after China’s ban forced miners to shut down their operations in the country. The Bitcoin network’s hashrate has risen about 117% to 133 exahashes per second as of Tuesday from its July low of 61 EH/s, according to data analytics firm Glassnode.
The newreportfrom Cambridge Centre for Alternative Finance (CCAF) now confirms that since the China ban, miners outside the country, mainly from the U.S., have taken over bitcoin’s global mining operations. The U.S. accounted for 35.4% of the global hashrate at of the end of August, more than double the 16.8% it had at theend of April.
Meanwhile, mining operations in mainland China have effectively dropped to zero, down from a high of 75.53% of the world’s total bitcoin mining hashrate in September 2019. Kazakhstan and Russia now follow the U.S. with hashrate shares of 18.1% and 11%, respectively, up from 8.2% and 6.8% in April, according to the CCAF report.
For any industry to operate a profitable business, a safe jurisdiction is one of the key considerations, and the fact that the U.S. has a stable, transparent regulatory regime that considers the industry before making any changes to the law is the main reason why the U.S. will continue to increase its market share and maintain its top mantle, Bullett said.
Geopolitical certainty aside, miners in the U.S. also enjoy better access to infrastructure and a lower cost of power, accordingDave Perrill, CEO of data centers operator Compute North. “I think the U.S. will continue to be the leader, both at scale, cost and geopolitical risks,” Perrill said in an interview with CoinDesk.
Adding to the winning recipe for the U.S.,Paul Prager, chairman and CEO of miner TeraWulf, said, “I think that the primary reason China sort of missed the ball here is because they couldn’t control it, and Bitcoin is all about transparency, democratic values and decentralization.” He also suggested that the U.S. has a great regulatory environment, a “rule of law” and large availability of power, which is attracting more miners to the country.
The great migration of miners to the U.S. has created a unique situation for the whole crypto universe, as the world will be watching to see if a government can shut down a technology that’s supposed to be decentralized.
“There are clearly countries that are able to shut down the web or at least control what citizens are able to see on the web. The jury is still out on whether governments could apply similar controls on blockchain, which is likely to be the biggest systematic risk to the technology,” saidMax Galka, founder and CEO of blockchain analytics firm Elementus.
Read more: China FUD Over Bitcoin Mining Is ‘Now Moot,’ Luxor Report Says
The China ban presents an “interesting test case” to see if a government can actually ban this technology and how industry participants react to such moves, Galka said in an emailed statement to CoinDesk.
“If China puts this ban in place and the activity manages to continue anyway, I think then banning cryptocurrency no longer becomes an option for governments,” he added.
Regardless of how China’s dynamics play out, the regulatory certainties, access to cheaper power and ability to build out infrastructure needed for a smooth mining operation will likely help keep the U.S. its top position in the mining industry.
“Given all those reasons, it makes sense that we’ve been dominant in mining bitcoin, and we’re going to continue to enhance the positions that we have as we go forward,” TeraWulf’s Prager said. || Chainalysis Adds Bitcoin to Balance Sheet: Crypto tracer Chainalysis has added bitcoin to its corporate balance sheet.
• The $4.2 billion software companysaid Tuesdayit purchased an undisclosed amount of BTC through NYDIG, an institutional bitcoin management firm popular on Wall Street.
• CEO Michael Gronager called it Chainalysis’ first crypto buy: “We will continue to pursue other digital assets as potential future investments,” he said in a statement.
• Holding bitcoin as a reserve asset was popularized last year by MicroStrategy and has since caught on with the bitcoin mining crowd. Few public or private companies have done it, however, thoughCoinbaseandBitGostand out from the pack.
Read more:Crypto Sleuthing Firm Chainalysis Raises $100M, This Time at $4.2B Valuation || Why Bitcoin-Related And Ethereum-Related Stocks Are Trading Higher Today: Shares of crypto-related stocks, includingMarathon Digital Holdings Inc(NASDAQ:MARA),Riot Blockchain Inc(NASDAQ:RIOT) andBit Digital, Inc.(NASDAQ:BTBT) are trading higher amid an increase in the price ofBitcoin(CRYPTO: BTC) andEthereum(CRYPTO: ETH).
Bitcoin is trading 2% higher at around $46,791.80 on Thursday.
Ethereum is trading 3.6% higher at around $3,509 on Thursday.
Marathon Digital shares are also trading higher after the company announced DMG Blockchain will join Marathon's mining pool, MaraPool.
Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.
Marathon Digital is trading higher by 6.8% at $39.82 per share.
Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.
Riot Blockchain is trading higher by 4.2% at $31.65 per share.
Bit Digital, Inc. engages in the bitcoin mining business. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020.
Bit Digital is trading higher by 2.7% at $11.38 per share.
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• Why Bitcoin-Related And Ethereum-Related Stocks Are Moving Today
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Oil Price Fundamental Daily Forecast – Pressured by U.S. Production Concerns, OPEC+ Output Hike: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading mixed shortly before the release of the latest inventories data from the U.S. Energy Information Administration (EIA) weekly inventories report. We’ll be surprised if this report has any impact of the price action since it’s stale data from the week-ending August 27. Furthermore, the impact of Hurricane Ida has likely skewed the data for weeks. So traders won’t actually get a true read on crude oil and gasoline supply/demand until late September or early October. At 13:28 GMT, October WTI crude oil is trading $67.52, down $0.98 or -1.43% and November Brent crude oil is at $70.67, down $0.96 or -1.34%. In the meantime, traders will shift their focus to today’s OPEC+ meeting at which producers are expected to stick to a plan to add 400,000 barrels per day (bpd) each month to the end of December. Due to the impact of Hurricane Ida, U.S. crude prices are expected to remain under pressure as offshore oil and gas production in the Gulf of Mexico gradually recovers, though refinery operations are likely to take longer to return to normal. API Reports Larger-Than-Expected Crude Draw The American Petroleum Institute (API) on Tuesday reported a large draw in crude oil inventories of 4.045 million barrels for the week-ending August 27, bringing the total 2021 crude draw so far to more than 62 million barrels, using API data. Traders were looking for a draw of 2.833 million barrels for the week. The API also reported a build in gasoline inventories of 2.711 million barrels for the week-ending August 27 – compared to the previous week’s 985,000-barrel draw. Distillate stocks saw a decrease in inventories this week of 1.961 million barrels for the week, compared to last week’s 245,000-barrel decrease. Cushing inventories rose this week by 2.128 million barrels, after last week’s 485,000-barrel decrease. Finally, while U.S. crude oil stocks continue their decline, the U.S. oil production stayed at 11.4 million bpd for the second week in a row. Story continues Short-Term Outlook It’s hard to get a bullish reading on crude oil at this time because of the uncertainty over when production facilities will return to normal. When there is uncertainty, traders become reluctant to buy and some start liquidating long positions. The market is also facing several headwinds including the possibility of a stronger U.S. Dollar if Friday’s Non-Farm Payrolls report comes in stronger than expected. This could weigh on foreign demand for dollar-denominated crude. The extra supply from OPEC+ could also cap gains. Although this may have been priced into the market for weeks, some traders went long on the notion that the producer group would refrain from increasing production due to coronavirus concerns. With WTI currently trading inside a 50% to 61.8% retracement zone, we’re looking for a downside bias to develop on a sustained move under $67.63 and for an upside bias on a sustained move over $69.02. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Price Forecast – British Pound Turns Around for Gains USD/CAD Daily Forecast – Resistance At 1.2625 Stays Strong Why Tesla Stock Is Trading At Multi-Month Highs Signs Point to Twitter Rolling Out Bitcoin for Tip Jar Gold Price Forecast – Gold Markets Pullback After Initial Shot Higher USD/CAD: Loonie Remains Range-Bound, Could Turn Volatile After U.S. Jobs Report || Gold Price Prediction – Prices Consolidate as the Greenback Rises: Gold prices edged lower on Friday but remains below key resistance levels. The yellow metal was able to remain buoyed despite a rally in the Greenback. U.S. PPI came in stronger than expected, helping to boost yields and driving up the dollar.
Gold prices consolidated and edged lower. Prices remained below resistance seen near the 50-day moving average, at 1,797. Additional resistance is seen near the 10-day moving average at 1,809. Target support is seen near the August lows at1,672. Short-term momentum has reversed and turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This sell signal occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line).
According to the U.S. Labor Department, U.S. producer prices increased more than expected in July. The producer price index (PPI) 1.0% last month after rising 1.0% in June. Expectations were for PPI to rise by 0.6%. In the 12 months through July, the PPI jumped 7.8%, a record high since the measure was introduced just over a decade ago.
Thisarticlewas originally posted on FX Empire
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• Gold Price Prediction – Prices Consolidate as the Greenback Rises || SEC Postpones VanEck Bitcoin ETF Decision Yet Again: BeInCrypto –
The U.S. Securities and Exchange Commission (SEC) has continued to drag its feet over approving a bitcoin exchange-traded fund (ETF).
The SEC filed anoticeon Sept 8 stating that it has now designated Nov 14 as the date that it will either approve or disapprove a proposed rule change that will allow the listing and trading of shares of the VanEck Bitcoin Trust.
There was very little explanation given for this latest round of procrastination other than some jargon about issues raised in comment letters;
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || HIVE Achieves Record Quarterly Revenue of $37.2 Million and Earnings of $18.6 Million for Q1 F2022: This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.
Vancouver, British Columbia--(Newsfile Corp. - October 4, 2021) - HIVE Blockchain Technologies Ltd. (TSXV:HIVE) (Nasdaq: HIVE) (FSE: HBF) (the "Company" or "HIVE") announces its results for the first quarter ended June 30, 2021 (all amounts in US dollars, unless otherwise indicated).
Gross revenue from digital currency mining was $37.2 million in the first quarter, a 466% increase from the same quarter last year, and 11% higher than the previous quarter. Record quarterly net income of $18.6 million, up significantly from $1.8 million a year earlier, and $4.3 million higher than the previous quarter. Gross mining margin expanded to $31.0 million, from $2.6 million last year, and is $3.3 million higher than that experienced in the prior quarter of $27.7 million. Net income per share grew to $0.05 from $0.00 during the prior year and is $0.01 higher than the previous quarter of March 31, 2021.
"The first quarter of fiscal 2022 has continued the momentum that we had in fiscal 2021. It's been an incredible year for HIVE. Despite the effects of COVID-19 and associated supply chain issues, we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity," said Frank Holmes, Interim Executive Chairman of HIVE.
What many investors have not realized the significance of mining Ethereum in addition to Bitcoin, which has continued to exhibit very strong performance throughout this calendar year, after our Q1 period end of June 30, 2021, and even after the London Hard Fork in August 2021.
Of note, for the month of September 2021, HIVE mined approximately 221 Bitcoin and 2,572 Ethereum. On a daily revenue basis during September 2021, this income from Ethereum would be equal to mining approximately 186 Bitcoin. Therefore, the total equivalent of Bitcoin mined on a daily revenue basis for HIVE's September 2021 production is approximately 407 Bitcoin, or an average of approximately 13.6 Bitcoin equivalent mined per day.
As such, Hive appears to be the most profitable Crypto mining company amongst our peers with a rapidly growing Bitcoin HODL strategy.
"During this most recent quarter we acquired HIVE Atlantic in April 2021, giving us a substantial Bitcoin mining operation in New Brunswick, Canada. We are well into the process of expanding capacity through new construction at this data centre campus and are installing next generation Bitcoin mining equipment which is arriving monthly.
"The acquisition of the New Brunswick data centre campus gives us a strategic advantage in this competitive industry. Owning our own state-of-the-art facilities means we don't have to worry about landlords raising the rent and gives us full control of our operations.
"HIVE now has the land, buildings, talent, and mining equipment we need to succeed. We are focused on improving efficiency and profitability by optimizing cryptocurrency mining output. We're lowering costs and maximizing our existing electrical and infrastructure capacity by installing new mining equipment as the orders roll in.
"During the first fiscal quarter we received ASIC machines every month, which allowed us to allocate these new generation miners between our 2 facilities in Canada. These purchases were partially funded by the $100 million At-The-Market Program. We sold a small amount of Ethereum to upgrade our equipment with Nvidia latest generation of high performing GPU chips but continue to HODL 25,000 ETH and 1,030 BTC. We continue to ramp up production of both BTC and ETH."
Q1 Quarterly Highlights- June 30, 2021
• Generated revenue from digital currency mining of $37.2 million, with a gross mining margin[1]of $31.0 million
• Mined 225 Bitcoin and over 9,700 Ethereum during the three-month period ended June 30, 2021
• Earned net income of $18.6 million for the period
• Working capital increased by $20.9 million during the three-month period ended June 30, 2021
• Digital currency assets of $82.2 million, as at June 30, 2021
Q1 F2022 Financial Review
For the three months ended June 30, 2021, revenue from digital currency mining was $37.2 million, an increase of approximately 466% from the prior year. This was primarily due to an increase in the production of Ethereum and Bitcoin stemming from mining expansion, and considerably higher coin prices.
Gross mining margin1during the year was $31.0 million, or 83% of revenue from digital currency mining, compared to $2.5 million, or 39% of revenue from digital currency mining, in the same period the prior year. The improvement was primarily due to the Company's assumption of control over its operations in Sweden during fiscal 2020, which has resulted in lower costs, combined with the cessation of Bitcoin cloud mining operations after they became unprofitable in the third quarter of fiscal 2020, and the switch to independent mining at our Bitcoin mining facility in Quebec. The Company's gross mining margin from digital currency mining is partially dependent on external factors including mining difficulty, the amount of digital currency rewards and fees received for mining, as well as the market price of digital currencies.
Net income during the quarter ended June 30, 2021 was $18.6 million, or $0.05 per share, compared to $1.8 million, or $0.00 per share, the same period last year. The improvement was driven primarily by the increase in gross mining margin1, higher Ethereum and Bitcoin prices, gains on the sale of digital currencies, and foreign exchange.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/5335/98425_494c8545247fd934_001full.jpg
(1) Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" in the Company's MD&A.
(2) Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies
Financial Statements and MD&A
The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three months ended June 30, 2021 will be accessible on SEDAR atwww.sedar.comunder HIVE's profile and on the Company's website atwww.HIVEblockchain.com.
Webcast Details
Management will host a webcast on Monday, October 4, 2021 at 10:00 am Eastern Time to discuss the Company's financial results. Presenting on the webcast will be Frank Holmes, Executive Chairman, and Darcy Daubaras, Chief Financial Officer. Clickhereto register for the webcast.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.
We encourage you to visit HIVE's YouTube channelhereto learn more about HIVE.
For more information and to register to HIVE's mailing list, please visitwww.HIVEblockchain.com. Follow@HIVEblockchain on Twitterand subscribe toHIVE's YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd."Frank Holmes"Executive Chairman
For further information please contact:Frank HolmesTel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about restructuring of the Company's operations and sustainable future profitability; potential further improvements to the profitability and efficiency across mining operations by optimizing cryptocurrency mining output, continuing to lower direct mining operations cost structure, and maximizing existing electrical and infrastructure capacity including with new mining equipment in existing facilities; continued adoption of Ethereum and Bitcoin globally; the potential for the Company's long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the efficiencies obtained through restructurings may not lead to operational advantages or profitability; further improvements to the profitability and efficiency may not be realized as currently anticipated, or at all; the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated and other documents disclosed under the Company's filings atwww.sedar.com.
This news release also contains "financial outlook" in the form of gross mining margins, which is intended to provide additional information only and may not be an appropriate or accurate prediction of future performance, and should not be used as such. The gross mining margins disclosed in this news release are based on the assumptions disclosed in this news release and the Company's Management Discussion and Analysis for the fiscal year ended March 31, 2021, which assumptions are based upon management's best estimates but are inherently speculative and there is no guarantee that such assumptions and estimates will prove to be correct.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to realize operational efficiencies going forward into profitability; profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
[1]Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" below.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/98425
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-04-15]
BTC Price: 6642.11, BTC RSI: 45.56
Gold Price: 1727.20, Gold RSI: 62.21
Oil Price: 19.87, Oil RSI: 34.60
[Random Sample of News (last 60 days)]
Be a portion of Change to the World's Digital Economy: ESTONIA / ACCESSWIRE / March 31, 2020 / Goldario- Dispersion to the World's Advanced Economy Goldario is a cryptocurrency token that is backed by the precious metals, stones, jewellery manufacturing & retail industry, which is considered to be among the most valuable industries in the world of the traditional economy today. Worth $279 billion in 2018, the worldwide estimation of the gems and jewellery market is expected to increase to approximately $480 billion by 2025. There are different processes that are involved in producing these gems and jewellery from their raw state when mined to their finished state where they can be used by consumers as jewellery. It is pretty difficult and close to impossible for a small-scale investor to delve into this lucrative and high rewarding industry due to the expensive and cumbersome processes that are involved in creating these items. The business operation of Goldario does not only deal in Emerald Mines , as they own a Gemstones Cutting and Polishing Factory, a Jewellery Manufacturing Company, and jewelry retails business. The project already has an established infrastructure in Brazil that is registered with company name G44 SA and possesses Emerald Mines that has an estimated deposit of $3 billion. About The GLD Token With the Goldario (GLD) token, big-time investors, as well as small scale investors with low ventures, can own a Gold and Emerald mining, Jewellery Manufacturing and Retail Shops business as the holders of this token are apportioned a digitized share in gold and emerald mines and in-house jewellery making for the world market that will help them to earn profit from various underlying businesses. The token is a blockchain-based cryptocurrency that was built on the Ethereum blockchain (ERC-20). Every investor of the GLD token during the token sale is entitled to some portion of a potential and passive income creating business. How GLD Can Revolutionize the Jewellery Industry The priority of the Goldario platform is not only on the usage of the GLD token as it also encourages investors to maximize their chances of investing in the precious metals industry by affording them the opportunity to redeem their GLD tokens in the form Gems and Gold Jewellery through the launch of the GLD token. Story continues GLD is in a great position to become the leading platform of choice for the consumers and various businesses that deal in the jewelry industry, as it offers a potential underlying asset backing which allows users to obtain and have entitlement over physical mines, jewelry production factories , and Jewellery retail businesses from across the world. Key Facts About the GLD Token The GLD token is considered to be a competitor to established cryptocurrencies like Bitcoin and is open to global business investors and cryptocurrency lovers. The following are reasons why the GLD token should be considered. It is a first of its kind cryptocurrency to be used in the redemption of Gems and Gold. Its owners are a world-renowned and registered group of company with existing successful businesses. It has a lower investment plan that starts from $125 which small scale investors can take advantage of. It has a cryptocurrency exchange that is called the Inoex Exchange. It utilizes the trustless system of the blockchain. It is expected to be a top-ranking cryptocurrency in a few years time. It can be exchanged to fiat currencies such as the USD, EURO and Pounds very easily. Why You Can Trust Goldario Goldario is a project of a registered company with operating businesses like the Emerald and Gold Mines, the Jewellery Brand, the Cryptocurrency Exchange business locally operating in Brazil and the Jewellery Factory all fully and legally licensed, giving it a positive image to be adopted as a standardized currency all over the world. The Future Looks Bright with The Goldario Blockchain Project Goldario began their journey to success in 2018 when they created the InoexCryptocurrency Exchange, it was supposed to be the original plan and strategy behind the launch of the GLD token under an ICO platform that is backed by the precious stones, metals and the jewellery manufacturing network ecosystem. The launch of the GLD token is expected to position the Goldario blockchain project among the top blockchain projects due to its competitive nature and commitment to the world of the digital economy. Requirements to be a Part of Goldario What is expected from an investor to be a part of this digital economic system with multiple benefits is quite easy and convenient, they only have to buy a block processor during the ongoing token presale at the cost price of $1 USD per GLD token with a base start breaking point of $125 USD. Crowd Sale Information Start of Token Crowd sale: Date 01-07-2020 Duration: 180 days Token symbol: GLD Token standard: ERC-20 (For Token Sale) Soft cap: 300 million USD Hard cap: 1 Billion USD Total token supply: 1,000,000,000 Token price: 1.00 USD per token Bonus allocation: 30% Goldario is a project that looks to change the cryptocurrency industry by providing a business with a worthy commercial value. Its community program is designed by experts using block processors and a reward program with a direct referral bonus, suitable for all investors, to ensure a quick sale of tokens. Useful Links Official Website: https://goldario.com Facebook page: https://www.facebook.com/Goldario.token/ Twitter: https://twitter.com/GoldarioToken Instagram: https://www.instagram.com/goldariotoken/ YouTube Channel: https://www.youtube.com/c/Goldario Bounty Program: https://www.goldario.com/bounty/ Buy Tokens: https://office.goldario.com/register/ Contact: Name: Goldario Email: [email protected] SOURCE: Goldario View source version on accesswire.com: https://www.accesswire.com/583243/Be-a-portion-of-Change-to-the-Worlds-Digital-Economy || Exiled Bitmain Co-Founder Is Fighting Back With Second Lawsuit: Micree Ketuan Zhan, the ousted co-founder of Bitmain, has filed another lawsuit in his fight to regain control of the bitcoin mining giant – this time in his home country. A recent notice from the Changle District court in China’s Fujian province indicates Zhan has filed a lawsuit against Bitmain’s fully-owned subsidiary Fujian Zhanhua Intelligence Technologies, as well as Beijing Bitmain Technologies as a related third party. A hearing of the case was scheduled on Feb. 11, according to the notice, although it’s likely postponed due to the disruption caused by the coronavirus outbreak . While it’s not clear what the exact allegations are, the court says the case relates to a “shareholder qualification confirmation dispute.” Related: Bitcoin’s Plunge Was Foreshadowed by Miner Inventory Data The case adds to the ongoing litigation in the Cayman Islands Zhan has filed against the company he co-founded with Jihan Wu in 2013, casting further uncertainty on the outcome of the power struggle at the world’s largest miner maker as well as its planned initial public offering in the U.S. Zhan filed a lawsuit in December in the Caymans, where Bitmain’s parent holding entity is registered, asking a court to void a decision allegedly passed at a shareholder meeting that significantly curtailed his voting power. Lawyers representing Zhan in the Cayman Islands previously told CoinDesk that Zhan, as a major shareholder, was not aware of the meeting beforehand, and a hearing for the case might be scheduled after the Easter holiday. Asset protection The lawsuit in China also followed an asset-protection petition filed by Zhan and approved by the same court in December, but the court’s full judgment was not made public until last Thursday. Related: Ethereum’s ProgPoW Debate Is About Much More Than Mining The court sided with Zhan to freeze 36 percent of Fujian Zhanhua’s 10 million yuan incorporated shares owned by Bitmain, worth 3.6 million yuan, or $500,000. Though the value of the frozen assets may be negligible for Bitmain, the percentage could be significant. Story continues Fujian Zhanhua is 100 percent owned by Beijing Bitmain, whose parent company is Cayman-registered BitMain Technologies Holding, of which Zhan remains the largest shareholder – with 36 percent. That means Zhan indirectly owns 36 percent of Fujian Zhanhua, suggesting the asset-protection move is intended to prevent his power over this subsidiary from being transferred or diluted. Under the court’s asset-protection order, Beijing Bitmain will not be able to transfer or pledge these frozen assets as collateral, nor would it be able to increase the subsidiary’s total incorporated capital in order to dilute the percentage of the frozen ownership. But why Fujian Zhanhua ? It may appear surprising that Zhan would file a case against one subsidiary out of a dozen entities under Bitmain’s holding firm, and in a court in Fujian instead of Bitmain’s home base in Beijing. But the importance of Fujian Zhanhua could hint at Zhan’s strategy for fighting back since he was ousted in a coup in November 2019. To be sure, Zhan, a Fujian native, is still the legal representative of Fujian Zhanhua, a firm that was ranked 58th by the Fujian provincial government in 2018 out of the top 100 taxpayer companies. And Bitmain’s Hong Kong IPO filing in 2018 listed Fujian Zhanhua as one of the four principal subordinate entities that had made material contribution to the financial results of Bitmain’s holding group, alongside Beijing Bitmain, Bitmain Hong Kong and a Shenzhen manufacturing subsidiary. The document specified the principal business activity of Fujian Zhanhua as Bitmain’s “sales center for cryptocurrency mining hardware” in China. Bitmain booked over $2.5 billion in revenue in 2017 alone, of which about 95 percent came from sales of its mining hardware. And the mainland China market counted for nearly 50 percent of the total sales volume that year. In fact, Bitmain’s two major sales channels – the AntMiner pre-sales and post-sales WeChat accounts – were previously owned and operated by Fujian Zhanhua. However, the ownership for both channels was migrated to another, lesser-known Bitmain subsidiary in December, whose legal representative is not Zhan. Further, the IPO document revealed the Fujian subsidiary played a vital role in one of Bitmain’s financing activities in 2018. In July 2018, Beijing Bitmain signed a series of purchase agreements worth $100 million to buy an office building in Beijing. To finance that transaction, it borrowed $49 million from a local bank with the acquired property pledged as collateral and with Fujian Zhanhua as a guarantor, underscoring the financial wherewithal of the Fujian subsidiary. Related Stories A New York Power Plant Is Mining $50K Worth of Bitcoin a Day Bitmain Spin-Off Matrixport Seeks $300M Valuation in Latest Funding Round || Singapore Crypto Firm Aims to Triple Value to $300 Million: (Bloomberg) -- Matrixport, the crypto-finance venture founded by Bitmain Technologies Ltd.’s billionaire chief Wu Jihan, is seeking to raise $40 million in a funding round at a post-investment valuation of $300 million, according to people familiar with the matter.
Crypto startups are riding somewhat of a resurgence along with a modest recovery in Bitcoin prices. Matrixport pitched its latest round to investors in recent weeks, the people said, asking not to be named because the matter is private. The startup took in $7 million to $8 million in revenue for 2019 and expects that to more than double this year, according to a slide deck shared with investors and viewed by Bloomberg. The firm was valued at $114 million in a previous round, according to the deck.
Matrixport is one of a crop of fledgling firms trying to develop financial services for professional cryptocurrency traders and investors. The startup was spun off from Bitmain last year after the world’s largest maker of Bitcoin mining rigs ran into a cash crunch. Wu and Bitmain itself are major shareholders in the new venture. A Matrixport spokeswoman said the firm is in touch with U.S.-dollar investors, without elaborating.
Matrixport Chief Executive Officer Ge Yuesheng declined to comment.
Launched in July, Singapore-based Matrixport aims to become a one-stop platform for over-the-counter trading, lending and custody for digital assets. It rivals the likes of BitGo Inc. and Genesis Global Trading Inc. in the U.S.
Read more: Bitmain Crypto-Billionaire Launches New Startup as Bitcoin Rises
(Updates with Matrixport’s comment in the third paragraph)
To contact the reporter on this story: Zheping Huang in Hong Kong at [email protected]
To contact the editors responsible for this story: Peter Elstrom at [email protected], Edwin Chan, Joanna Ossinger
For more articles like this, please visit us atbloomberg.com
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©2020 Bloomberg L.P. || The Gross Law Firm Announces Class Actions on Behalf of Shareholders of WWE, HPQ and CAN: NEW YORK, NY / ACCESSWIRE / April 1, 2020 /The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
World Wrestling Entertainment, Inc. (WWE)
Investors Affected: February 7, 2019 - February 5, 2020
A class action has commenced on behalf of certain shareholders in World Wrestling Entertainment, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: Defendants perpetrated a fraudulent scheme which: (i) deceived the investing public regarding WWE's business and prospects; (ii) artificially inflated the price of WWE Class A common stock; (iii) permitted certain senior executives of WWE to sell more than $282 million worth of their personally held shares at fraud inflated prices; and (iv) caused the public to purchase WWE Class A common stock at artificially inflated prices.
Shareholders may find more information athttps://securitiesclasslaw.com/securities/world-wrestling-entertainment-inc-loss-submission-form/?id=5885&from=1
HP Inc. (HPQ)
Investors Affected: February 23, 2017 - October 3, 2019
A class action has commenced on behalf of certain shareholders in HP Inc. According to the filed complaint, defendants knew that HP's "four-box" model for measuring its supplies business was severely deficient and not a strong predictor of supplies demand and outcomes because HP lacked telemetry data from its commercial printers and had to use unreliable and stagnant market share data to develop assumptions for the four-box model. The complaint further alleges that defendants knew the lack of telemetry data for commercial printing was a critical shortcoming of the four-box model because HP possessed telemetry data on its personal printing side and knew it was a necessary element for an accurate understanding of the supplies channel. As a result, the supplies inventory in the Company's channel exceeded demand by at least $100 million and HP's supplies revenue growth was grossly inflated.
Shareholders may find more information athttps://securitiesclasslaw.com/securities/hp-inc-loss-submission-form/?id=5885&from=1
Canaan Inc. (CAN)
Investors Affected: publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering.
A class action has commenced on behalf of certain shareholders in Canaan Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
Shareholders may find more information athttps://securitiesclasslaw.com/securities/canaan-inc-loss-submission-form/?id=5885&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email:[email protected]: (212) 537-9430Fax: (833) 862-7770SOURCE:The Gross Law Firm
View source version on accesswire.com:https://www.accesswire.com/583568/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-WWE-HPQ-and-CAN || Coronavirus Second Order Effects and Improving on Bitcoin With BitTorrent Creator Bram Cohen: The best Sundays are for long reads and deep conversations. Last week theLet’s Talk Bitcoin! Showspoke with BitTorrent Creator andChiaCEO Bram Cohen to discuss the lasting effects of Coronavirus lockdowns and how he believes he’s improved on Satoshi’s approach to distributed consensus.
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
Seealso:PODCAST: ‘Let’s Talk Bitcoin!’ Hosts Discuss Libra, China and Cargo Cults
Related:Bitcoin News Roundup for April 6, 2020
On this episode BitTorrent creator and Chia CEO Bram Cohen joins the hosts of Let’s Talk Bitcoin! to discuss:
• Topic 1 –Second Order Impacts of Coronavirus Lockdowns
• Social distancing and the revenge of the Hikikomori
• Coronavirus second order effects
• It’s an extroverts world but we’re all introverts this month
• The AOL moment for Zoom meetings and arguing the potato
• Interpersonal compression, ‘zoomers’ and enforced quality time
• Will overall deaths go down because of pandemic lockdowns?
• The end of “Bus Mode” for Lyft and Uber
• Autonomous vehicles, grocery deliveries and the last mile problem
• Tampons, cocktail sausages and a very weird month
• This episode is sponsored byeToro
• A friendly government delivery service?
• Opportunities in sterilization and social changes that’ll last
• Automated cleansing cycles and Far-UVC
• Internet infrastructure, Netflix social signaling and the recycling dilemma
• Masks, headphones and the changing standard of social isolation
• TOPIC 2 –How the creator of BitTorrent thinks he’s created a less wasteful, more distributed, more secure approach to Nakamoto Consensus
• Decentralized systems and the critical success of BitTorrent
• Naming projects, vegetables and a list of grains
• Proof of Space and Time
• Warehouses of computers, competitive money burning and Keynesian stimulus
• Proof of Work works and that’s a huge accomplishment, but could be better
• Centralization, Nakamoto consensus and Proof of Stake
• Moats and losing the battle with ASIC-hard consensus algorithms
• “Grinding attacks” as the competitive strategy
• Fundamental economics, storage capacity and the loophole
• Airdrops for something over-resourced and under-provisioned
• Losing money on buying “farming” hardware
• The early days of bitcoin mining with CPUs
• Power and CPUs, GPUs, FPGAs, and ASICs
• Hard Drives, hard drives, hard drives and hard drives
• Storing data as proof, but not peoples data is like Proof of Work; the work isn’t useful, it’s just a measuring stick that doesn’t need your name or a long term commitment
• Printing lottery tickets with ASICs vs. a hard drive full of bingo cards
• Proofs of Space need Proofs of Time
• Less wasteful by using an underutilized resource
• More distributed because excess hard drive capacity is already distributed and there is no “ASIC” equivalent possible for hard drives. Just better or faster hard drives
• More secure because less wasteful and more distributed equal better security in distributed consensus
• Breaking, tweaking and proving proofs of time and space
• Miners don’t run data centers
• UTXOs, message passing on-chain programming environments and walking a fine line between Bitcoin and Ethereum
• Rate limiting wallets and reversible paper wallets
• Improving colored coins
• Decentralized exchange doesn’t need decentralized exchanges
• Farming, pre-farming, farming rewards and trailing emissions
• Why pre-farm?
• Is it viable to farm with AWS?
• Carrying hundred dollar bills and Chia’s business model involves loaning Tokens To Large International Companies
• Covenants replicate many banking system benefits without requiring banks or centralization
• Complexity, Bitcoin Script and Protocol Level Improvements
This episode was sponsored byeToro.com, with music byJared Rubens,Gurty BeatsandAdam B. Levine. Today’s show featuredBram Cohen,Andreas M. Antonopoulos,Stephanie Murphy,Jonathan MohanandAdam B. Levinewith editing byJonas.
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
• Bitcoin, Equities Markets Rally on Signs of Hope
• Miner Perspectives on Bitcoin Halving 2020, Part 1 of a New Podcast Series
• How Blockchain Tech Can Make Coronavirus Relief More Effective || Bitcoin shows resilience with 10% surge as stocks stutter: Bitcoin is on its way to reinstating its reputation as a safe haven asset as it rallied by more than 10% in the past 24-hours. The sudden move to the upside coincided with a further correction in global stock market indexes, with the Dow Jones and FTSE100 tumbling towards key levels of support. At the time of writing Bitcoin is trading above $5,600 as it takes aim at the $5,800 level of resistance after consolidating over the past week. A break above $5,800 moving into the typically low-volume weekend will be key for Bitcoin if it is to continue rallying until Mays halving event. However, a rejection from this level could prompt a test of last weeks low of $3,600, which would in itself come alongside an abundance of fear and panic from investors. The fact that Bitcoin seems to be finally decoupling with the stock market is undoubtedly bullish in the short term, with the global economy facing a daunting task to recover from the impact of coronavirus. If a sudden spike in cases or mortality rates comes to fruition it would almost certainly worsen the plunge in global equities, especially as economic stimulus from developed nations has already been squeezed. This is when Bitcoin will need to perform as many thought it would; by acting as a hedge to the traditional financial system in the same way gold has for decades. That belief has been damaged over the past month with Bitcoin losing half of its value while several altcoins have fallen by more than 70%. But the recent show of strength has clawed back the negative perception, with investors now eyeing up Bitcoin ahead of a potential breakout. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: Story continues US Dollar BTCtoUSD British Pound Sterling BTCtoGBP Japanese Yen BTCtoJPY Euro BTCtoEUR Australian Dollar BTCtoAUD Russian Rouble BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Heres an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. || Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear: Noelle Acheson is a veteran of company analysis and CoinDesk’s director of research. The opinions expressed in this article are the author’s own.
The following article originally appeared inInstitutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets.Sign up for free here.
Anyone seen the movie “Parasite”? You know, the one about class mobility, creative solutions and scary basements.
Related:Bitcoin Back Over $8K as Traditional Markets Rebound
I thought of that film after readingJill Carlson’s op-eda couple of days ago – she looks at our collective surprise that bitcoin is not a safe haven, and in a gentle way asks “well what did you expect?” She highlights thatbitcoin(BTC) is too young to be considered a safe haven because its narrative is not yet formed. That doesn’t mean it won’t eventually get there, though.
What does this have to do with a South Korean Oscar winner? Well, in “Parasite” we spend the first hour thinking the film is about one thing but it turns out it’s not, it’s about something totally different.
The same thing is happening in cryptoland. Jill’s right: Bitcoin’s narrative isthekey driver of its price trends, and it will change over time. The story isn’t about what bitcoin “is” but about what it “will be.”
An even more interesting narrative shift, however, is unfolding elsewhere.
Related:Kraken Exchange Pledges India Expansion as Nation Reopens for Crypto Business
I’m talking about the rest of the market. Almost all of it, in fact. Narratives are shifting all over the place.
For instance, everyone knows you should have bonds in your portfolio because they offer income and stability. I mean, there’s no way rates could go negative, right?
This week the yield on 30-year and 10-year U.S. government debtdropped totheir lowest levels ever. The S&P 500now yields morethan Treasurys, calling into question the entire concept of “risk distribution.”
Even gold is behaving strangely. We hold it up as the ultimate example of a “safe haven” investment, and yet market structure shifts are calling that into question. Last week the gold pricedropped almost5 percent in one day, the largest daily fall in seven years, due to deleveraging pressure from derivative positions. And we tend to forget that gold fell almost 30 percent at the height of the 2008 market rout.
Gold’s role as a safe haven is entirely based on narratives: that shiny and yellow are desirable qualities (surely that’s subjective?), that supply is limited (we don’t know that for sure) and that heavy is good (you’ll have heard the derogatory expression “such a lightweight!”). These days, heavy – as in very difficult to pick up and take with you – is perhaps not the indicator of utility it once was.
Even though we can all agree gold’s metallic propertiesare impressive, its position as the world’s safe haven is no longer universally unassailable, and through no fault of its own. The narratives around it are changing, and the resumption of the gold price rally at the beginning of the week seems less based on conviction the metal will hold its value in times of trouble and more of a desperate realization there’s nothing out there that can yet take its place.
Now, why so many narrative shifts all of a sudden? Actually, narratives are always changing – but the pace of change is usually much slower than what we are witnessing today.
What we are witnessing is a breakdown of assumptions, in a time of fear. We’re worried about the economy, the banking system, the climate, living conditions, politics, education and the automatization of jobs. Add to that a growing feeling of vulnerability and concern about health and contagion.
In times of fear, we fall back on what we know, what we can be sure of. These days, that’s not much.
In his poignant 1944 paper called “The Social Psychology of Fear,” philosopher Kurt Riezler pointed out that “If we do not know the nature of a danger, we make an assumption. Without such an assumption, we cannot act.”
But what are assumptions if not conclusions based on narratives? We assumed interest rates would never go negative. We assumed house prices would never go down. We assumed profits were a good thing, and social media would liberate us.
So now, confronted by many dangers we are still struggling to understand, we are reaching for assumptions we no longer trust.
Bitcoin’s narrative is changing, as is to be expected for such a young and complex innovation. But so are the narratives that guide just about every other aspect of investing.
A few years from now, when the new narratives have settled into some semblance of normality, we’ll look back on this time and realize that the bigger story was in front of us all along.
• Crypto Needs a Rational Value Investing Model
• You Call That Volatility? Bitcoin Traders Scoff at Wall Street’s Gyrations || Bitfinex to further delist 87 trading pairs amid low liquidity: Crypto exchange Bitfinex is set to further delist 87 trading pairs due to low levels of liquidity.
The pairsbeing removedinclude several altcoins paired against both bitcoin (BTC) and ether (ETH), as well as against tether (USDT) and fiat currencies.Some of these pairs include altcoins of notable projects, such as token creation platform Bancor, blockchain-based AI marketplace project SingularityNET and adult industry-oriented blockchain project SpankChain, among others.
Bitfinex said the removal, effective March 26, will help improve liquidity and the trading experience for users.
Bitfinex appears to be on a delisting-spree. Earlier this month, itremoved46 trading pairs, also due to low liquidity.
At the time, Bitfinex CTO Paolo Ardoino told The Block that the exchange decided to delist pairs because many projects born in the 2017 initial coin offering (ICO) boom have now “lost traction.”
While Bitfinex currently does not have a hard cap for the number of pairs it hopes to support, it wants to concentrate all liquidity of a given project into a single pair, typically the USD pair, Ardoino told The Block at the time. || US Stimulus Plan Is Steadying Global Markets While Crypto Takes a Dip: The $2 trillion stimulus deal in the U.S. wasn’t enough to keep many cryptocurrencies from taking a dip Wednesday. Bitcoin (BTC) was down a more than 1 percent over the past 24 hours as of 20:00 UTC, and only NEO (NEO) was a gainer, up by less than 1 percent. Ether (ETH) is down 2 percent. Other cryptocurrencies flashing red on the CoinDesk digital asset board include dogecoin (DOGE) in the doghouse by 3 percent and Dash (DASH) also in the red by 3 percent. Global equity markets, however, had a sunnier outlook. Japan’s Nikkei 225 index closed its trading session up a solid 8 percent. The Tokyo market has been positive all week because the Bank of Japan is purchasing record amounts of debt , injecting cash into the economy. Related: Miners Are Selling More Bitcoin Than They Are Mining See also: Why the US’ $2 Trillion Stimulus, Unlimited QE Will Expose the Monetary System’s Flaws Cash injections were also the topic of the day as U.S. policymakers try to deal with the coronavirus threat to the economy. After working out a deal on where the money will go, the full Senate is expected to vote later Wednesday on the bill to provide $2 trillion in relief to Americans. The S&P 500 index closed over 1 percent at 20:00 UTC. Markets are finally holding steady after panic selling erased years of S&P 500 gains that had topped out on Feb. 20. “In 2008, when Lehman filed for bankruptcy, the immediate impact to financial markets was very similar to the reaction that we have witnessed as a result of COVID-19. Both events caused significant sell-offs in global equity markets and a flight to safety from investors, which was predominantly into USD,” said Jon Deane, CEO of InfiniGold, which has issued a digital gold token on a public blockchain. Related: Craig Wright Challenges Court Order Criticizing His Evidence in $4B Kleiman Case See also : Into the Unknown: No Limit on Fed Money Injections Gold is down slightly on the day as of 20:00 UTC. “A devaluation of global currencies and long-term negative rates are both very positive for gold,” InfiniGold’s Deane noted. Cryptocurrency traders track gold closely, and watching other precious metals such as silver has also becoming a popular activity. Story continues “Goldman came out and said gold was a buy. Yet, if you look at the price of silver it’s telling a very different story. Silver either has to make a massive catchup or gold is headed lower,” said Rupert Douglas, head of Business Development, Institutional Sales at Koine. Silver is making gains, and it is up 1 percent on the day as of 20:00 UTC. Despite markets fairing well, they are still on shaky ground given uncertainty surrounding the coronavirus’ affects on the economy. Worries about the U.S. Federal Reserve’s policy of limitless quantitative easing (QE) worries traders about the future prospects of the dollar. “Limitless QE makes cash questionable as a haven, when all this calms down,” said Henrik Kugelberg, a Sweden-based over-the-counter crypto trader. Related Stories We Won’t Ever Think About the Financial System the Same Way Bitcoin in Rangebound Trading as Equity Markets Fail to See Stimulus Boost || Ripple Engineers Publish Design for Private Transactions on XRP Ledger: A new proposal specification from Ripple’s software developers would allow users to send private transactions to one another using the XRP ledger. In a GitHub submission earlier this week, Ripple engineer Nik Bougalis said he and a group of other Ripple developers had designed a new private payment system for the XRP ledger to protect exchange users from malicious third parties. Bougalis, who is responsible for XRP’s server software, said a system of “blinded tags” would make private transactions possible on the ledger. They would present a string of numbers that would be meaningful only for the intended recipient and appear random to everyone else. Related: P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users “[I]f blinded tags are in use, an attacker capable of observing every payment transaction will be unable to isolate a pair of transactions that refer to the same unblinded tag,” Bougalis said. See also: Digital Custodian Anchorage Adds XRP Storage for Institutional Customers Cryptocurrency exchanges hold users’ XRP in the same wallet address, which is separated into various sub-wallets. To differentiate between the different holdings, sub-wallets use 32-bit source and destination tags to identify a transaction recipient. At present, tags are publicly viewable and, if used frequently, can be associated with a particular user. Some exchanges already generate new tags for every transaction, but there are only a finite number of tags available. Although this isn’t an immediate issue, there comes a point where exchanges will be unable to generate any new tags. Related: Why Are Crypto Companies Going to Abu Dhabi? Bougalis’ proposal would also mean users could toggle blinded tags on or off. They would work as a single function so the network doesn’t become overburdened. Using blinded tags not only protects users’ identity, but it also acts as an effective “workaround” for preserving the number of destination and source tags available to exchanges, Bougalis added. As blinded tags leverage an existing tag infrastructure on exchanges, it’s uncertain whether users sending XRP between standalone wallets would be able to do so privately. Story continues See also: Amended Lawsuit Against Ripple Now Offers Theory That XRP May Not Be a Security It was not immediately clear if Ripple intends to add blinded tags in the near future or if this is a more exploratory suggestion. A spokesperson said they were receiving feedback and would review it if 80 percent of trusted validators supported the proposal. CoinDesk approached Bougalis for comment but had not received a response by the time we went to press UPDATE (April 3 14:40 UTC): This article has been updated to include comments from a Ripple spokesperson . Related Stories As Governments Rush to Track Coronavirus, Honduras May Offer a Privacy-First Model Digital Custodian Anchorage Adds XRP Storage for Institutional Customers
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-04-09]
BTC Price: 243.68, BTC RSI: 41.15
Gold Price: 1193.60, Gold RSI: 49.56
Oil Price: 50.79, Oil RSI: 53.96
[Random Sample of News (last 60 days)]
Microelectronics Provides Corporate Update: MONARCH BAY, CA / ACCESSWIRE / March 23, 2015 / Microelectronics Technology Corporation ( MELY ) The Board of Directors is pleased to report the following corporate events: Share Capital Structure: The company is in the process of completing the dividend declared in January. The distribution process is being shifted to be handled by DTCC the Depository Trust Company in order to streamline the distribution process to the shareholders brokerage firms. The company has successfully completed the consolidation of its share capital and is in the process of reducing its authorized share capital to 2.5 billion authorized shares down from 7.5 billion shares authorized. Financing: The Company has removed over $350,000.00 of convertible debt from the balance sheet over the last several months. The Company has not closed the two million dollars financing previously announced. The Company is still in the process of finalizing the financing however in order to protect shareholder value the form and dilution aspects of the financing have been altered to terms that have been more difficult to place with Institutional Investors. Further updates will be provided as available. Servers: The Company has cancelled all server orders previously reported. The Company has determined that its current facility in Washington State is not economical at the current electricity rate of $.09 per kilowatt hour. The average server runs at 1 kilowatt per hour 24 hours per day. The company determined that the cost of power in its expansion would be a significant factor in its profitability for the future. Each Peta Hash at the current electricity Rate costs $64,500.00 per month. The Company is currently in negotiations for a 10 Megawatt facility with electricity at the rate near $.02 per Kilowatt providing a cost savings of $.07 per Kilowatt or approximately $50,000.00 per month per Peta Hash. The Company has determined that it is more economical to lease servers and Hash Rate than to build out the current facility. Story continues BTCPOOLPARTY MINING POOL: The Company recently did testing of servers in the order of 4 Peta Hash to determine the viability of The BTC Pool Party under load. The Company will be initiating a restart of the Company's Bitcoin Mining Pool in the next 10 days with a leased 3 Peta Hash of mining power, mining on behalf of the Company. The company will be concentrating its growth efforts on the development of the BTC Pool Party until the new mining site is finalized and built out. It is anticipated that the 3 Peta Hash will produce approximately one BTC Block per day. The company has a comprehensive roll out plan for the next several months, which will include BTC conferences, online marketing and social media forums. The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available over the next several weeks. https://www.btcpoolparty.com/ . https://www.facebook.com/btcpoolparty Additional photos and videos can be viewed at the company's Facebook page: https://www.facebook.com/MELYPK . Forward-Looking Statements: This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements. CONTACT: For further Information: Microelectronics Technology Co. President: Mr. Brett Everett 702-221-1938 [email protected] www.melypk.com SOURCE: Microelectronics Technology Company || Iran Ripe For Investment Once Sanctions Are Lifted: From oil to consumer goods, Iran is becoming a sought after marketplace as the potential of a nuclear deal removing Western sanctions is looking more and more likely.
Everyone from individual investors to major companies is looking at the Middle Eastern nation as an emerging market with an enormous amount of untapped potential.
Investment In Oil
Whileoil pricesare likely to take a hit with the introduction of Iranian oil to the market, the Iranian oil sector is a valuable investment for U.S. and European companies looking to enter the nation's market.
In September, Iranian officials areplanninga conference in London, at which foreign firms can evaluate the conditions of new oil contracts.Expectations are highthat Western companies will be interested in taking on joint ventures with Iran's National Iranian Oil Company once the sanctions have been lifted.
Related Link:Could The Iran Nuke Deal Really Push Oil Prices Down Another ?
Banking
Iran is home to nearly 80 million people, providing a huge market that could become even more attractive than the nation's wealth of natural resources. At the moment, only a sliver of that population has a debit card and even fewer have any debt.
For that reason, Western financial firms are likely to make their way into Iran as soon as possible with the introduction of credit cards and borrowing.
Consumer Products
Iranians spent $77 billion on food and $22 billion on clothes in 2012 despite the strict sanctions, as reported by the Wall Street Journal, so it's safe to assume that consumer products' firms will be looking to enter Iran's market as well.
Some say that the nation's population is nostalgic for American-made goods, especially cars, that used to be available before the sanctions were in place.
Risks
While the figures may look good on paper, many companies are likely to be hesitant to expand into Iran at first. For some, there are ethical issues about investing in a country that has been associated with terrorism. For others, there is a worry that the nuclear deal won't hold up.
Even if the West and Iran can iron out a concrete agreement by the end of June, there is a possibility that Iran won't comply with the terms of the agreement at some point in the future, which could mean more sanctions that would prevent businesses from moving their money out of Iran.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Bitcoin Speculative Foolery or a Financial Services Breakthrough?: While the Internet-based currency Bitcoin has been a big headline-grabber, I have always considered it to be more speculative foolery than transformative technology. But one of my fellow CNBC contributors,Brian Kelly-- a Bitcoin authority and author of the new book,The Bitcoin Big Bang-- convinced me to learn a bit more about it.
While I haven’t become a full-fledged Bitcoin believer, in speaking with Kelly and reading his book, I have come to appreciate the applications for the technology and believe that it may be useful in the future.
Here is some of what he says makes bitcoin a breakthrough for financial services and why he thinks that it is something that small business should pay more attention to.
Related:Why Shark Tank's 'Mr. Wonderful' Thinks Women Make Better CEOs
Roth: I’ve always thought that Bitcoin is a fad that will end badly. What am I missing?Kelly:The biggest thing that people miss is that Bitcoin is more than just a currency. There are two parts: Bitcoin with a small 'b' is the currency, while Bitcoin with a big 'B' is the revolutionary technology also known as “the blockchain.” The blockchain technology allows value transfer between two unknown parties without the use of a middleman -- this is the first time in the history of money that this has happened.
So, if the technology is the important part of bitcoin, how do you think Bitcoin will be embraced and used differently in the future?In my view, the Bitcoin technology will be the backbone of the financial system. People may be using Bitcoin and may not even realize it since it will simply be the infrastructure that the financial system runs on.
Do you think that small businesses can benefit from using bitcoin? If so, how?The small-business angle currently is a cost play. For example, with a company like BitPay, a small business that accepts bitcoin may be able to save $3,000 a month for every $100,000 in sales versus traditional payment systems, such as Visa, Mastercard, Paypal, Square, etc.
You also say that bitcoin helps facilitate the globalization of small businesses. Can you speak more about that?Think about global small-business use in the context of international wire transfers. For example, I have a few contractors that reside in Switzerland and the United Kingdom. In order to pay their invoices, I would typically go to the bank, spend 30 minutes filling out paperwork, pay a big fee for the wire transfer and wait all day for confirmation. Additionally, there is a cost for the foreign currency exchange.
Related:Why Smart People Make Bad Entrepreneurs
Instead, now I pay in bitcoin. It costs me nothing, it arrives in seconds and there are no FX translation costs.
Bitcoin effectively removes the challenges of transacting business in differing currencies and allows for quick transactions that are lower in cost.
If a small business wants to get started using Bitcoin, what should it do first?The easiest way for a small business to start using Bitcoin is through a payment processor like Coinbase or BitPay. Coinbase has a very easy, user friendly button for websites; it is similar to adding a PayPal button to your website.
If you need an enterprise-level solution, then BitPay is a great choice; they can integrate with your current accounting system. BitPay just signed a deal with Microsoft to provide a bitcoin payment option.
What risks are there for small businesses using bitcoin?Right now, the biggest risk is the currency fluctuation, but most payment processors offer an immediate conversion to fiat (meaning a local currency, such as the U.S. dollar) which eliminates that risk. While I believe Bitcoin is not going away, entrepreneurs need to keep in mind that it is an emerging technology and just like the earlier Internet, it is bound to have a few hiccups.
Related:Never Hire a Honey Badger || March market madness?; Lumber Liquidators' shellacking; Warren Buffett successor hints: Stocks (^GSPC) were mixed in early trading after some disappointing economic data. U.S. consumer spendingfellfor a second consecutive month in January, falling 0.2% after declining 0.3% in December. Personal Income rose 0.3%. That was less than the 0.4% increase economists were expecting.
Among the stocks the Yahoo Finance team will be watching for you today: Lumber Liquidators (LL). Shares were falling sharply in early trading following a story about the company on CBS's "60 Minutes" last night. The show reported that the retailer's hardwood flooring from China contains levels of cancer-causing formaldehyde that exceeds California safety limits. Lumber Liquidators says its products meet safety standards.
Meantime, shares of NXP Semiconductors (NXPI) are soaring in early trading. The Dutch chipmaker is buying rival Freescale Semiconductors (FSL) for nearly $12 billion. The deal will make NXP the world's biggest supplier of microchips in the auto industry. Freescale Semiconductor shares are also higher on the news.
Get the Latest Market Data and News with the Yahoo Finance App
In more M&A news, we're watching Endo International (ENDP). The healthcare firm based in Dublin is selling its men's and prostate health business to Boston Scientific (BSX) for $1.65 billion.
Sticking in the health field, shares of Johnson and Johnson (JNJ) are gaining. J&J is selling its Cordis heart device unit to Cardinal Health (CAH) for just shy of $2 billion dollars.
And we're following shares of Costco (COST). The biggest warehouse retailer has a new credit card agreement with Citigroup (C) and Visa (V). Costco and American Express (AXP) are ending their long-standing deal next April.
And we're watching Berkshire Hathaway (BRK-A). It's in the spotlight after Warren Buffett said in his annual shareholder letter this weekend that future growth is unlikely to match the gains of the past, due to the company's size. He also mentions plans for a potential successor but didn't name who will take the reins once the 84-year-old steps down.
We have another company that's making a big announcement. Pharmaceutical company Actavis (ACT) is readying for a more than $20 billion dollar bond sale. This deal is set to be the second biggest in corporate bond history, just behind Verizon's (VZ) $49 billion dollar sale in 2013.
In other investing news, Bitcoin Investment Trust, or BIT, is reportedly slated to become the first publicly traded Bitcoin fund. TheWall Street Journalreports BIT has been racing a fund offered by the Winklevoss twins to launch publicly. || Is Regulation A Help Or Hindrance To Bitcoin?: As more and more regulated exchanges dealing in cryptocurrency trade emerge, the question of whether or not regulation takes away from the allure of bitcoin has been raised by many of the digital currency's supporters.
Central banks around the world are beginning to take notice of bitcoin and new restrictions could take away from the anonymity that many bitcoin enthusiasts enjoyed.
Regulation Paves The Way For Adoption
Most emerging exchanges believe that regulation is a key component in gaining mainstream popularity.
For the average investor, putting money into a completely unregulated market could feel a bit like putting it all on black at the casino. Regulation and security makes dipping a toe into a new market feel more comfortable, especially with all of the negative publicity bitcoin has received in the past year.
Bank Of England To Step In
This month the UK treasury announced its own interests in the digital currency space, saying that new anti-money laundering rules would be put into place in order to protect the growing industry.
Related Link:Nasdaq Backs Up Bitcoin-Based Exchange
Small bitcoin-businesses cheered the proposal, saying that the rules would not only legitimize their industry in the eyes of the public, but that they will likely open banks' doors to startups dealing in digital currencies that are looking for small business loans.
Regulations Dampen Innovation
While most bitcoin supporters recognize that the cryptocurrency won't gain traction without some government intervention, many say it kills one of the best reasons to jump on board the bitcoin train.
Rover Ver, who has been called the "Bitcoin Jesus" toldFortunethat regulations weigh down innovation more than they build bitcoin up. Ver said he recognizes the importance of regulation in promoting mainstream adoption, but pointed out that digital currencies would move faster and further without the government's red tape.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || GKIC Superconference 2015 Invites Michael Taggart Of Adventure Marketing To Speak For The Second Time: BOISE, ID / ACCESSWIRE / February 24, 2015 /Adventure Marketing, a Boise, Idaho marketing firm, has announced that Michael Taggart will be speaking for theGKIC Super Conference 2015. Throughout the conference, he will be addressing Press Advantage; speaking once during the conference date and once during the bonus day.
Press Advantage, the subject to be touched upon byMichael Taggart, is a press release distribution website. With Press Advantage, consumers, entrepreneurs, and business owners can enjoy integrated SEO with more than two hundred PageRank passed public relation domains that rank on their own, no matter the level of keyword in use. Users also gain access to a professional team of U.S. based writers, and with different subscription packages to choose from, set and forget scheduling is possible.
Michael Taggart, also known by the name of Michael X, has been in the SEO industry for more than thirteen years, building his first site when he was only twenty-two years of age. He began in 1999, and has been recognized for his contribution to many prestigious online marketing careers as a coach, and through coaching programs. Michael is the CEO of Adventure Marketing LLC, and works alongside a staff of dedicated employees through this Boise, Idaho-based firm. Michael is also CEO of Rock Steady, Inc. and is trained in local and international businesses, and this has helped hone his online marketing strategies throughout his career.
Adventure Marketing began in 2010 as a simple idea which has blossomed into a multi-million dollar company with an advanced global client base. This has made Michael into one of the most renowned marketers in the world, especially in terms of local search marketing and mobile SEO. His interests include Bitcoin and crypto assets, giving him a reputation for technologically advanced knowledge, and the title of "the coolest marketer in America."
Throughout the GKIC Super Conference, Michael will explore the subject ofPress Advantage, along with other important facets of his marketing expertise. His past experience with on stage conferences and marketing events gives him an edge over competitors, and has made him one of the best in his industry. His take on training is known to be highly unique, as is his approach to consumers in general.
With his added contribution and intriguing subject matter, those who will be in attendance at the GKIC Super Conference 2015 have shown interest and excitement over the prospect of learning more about Press Advantage and the other information Michael X will be sharing. Along with the many other contributors to the conference, it seems that guests will be receiving much of the knowledge necessary to be successful in e-commerce and online marketing. More information regarding Michael, the conference and Press Advantage can be viewed online.
For questions and concerns regarding this press release or for more information on Adventure Marketing please use the following contact information to get in touch:
Company Name: Adventure MarketingContact: Michael TaggartPhone Number: 1 (208)-908-0626E-mail Address:[email protected] Address: 5430 Misty Ridge Way, Boise, ID 83713
SOURCE:Adventure Marketing || Apple Announces Biggest European Expansion Yet: Apple Inc.(NASDAQ:AAPL) announced that it would be expanding itsEuropean operationsin a big way over the next two years, something the region’s policy makers hope will help spur on job growth and assist with economic recovery efforts.
The electronics giant announced on Monday that it plans to spend €1.7 billion on two state-of-the-art data centers set to be based in Ireland and Denmark.
Clean Energy Initiative
The data centers are expected to be the largest of their kind in the world, and will be powered by the latest renewable energy technology.
In addition to running its data centers on clean energy sources, Cook said Apple will continue to work with local groups to develop innovative ways to provide power in the future.
New Jobs
Apple CEO Tim Cook said this project marks the company’s largest European project to date, and that the new centers will be responsible for powering services like the iTunes Store, Maps and iMessage throughout Europe.
The euros spent on the project are expected to be evenly distributed between Ireland and Denmark and will likely create hundreds of new jobs in each nation.
Related Link:Uber Makes The Best Of A Ban In Spain
Ireland Welcomes Apple Project
Irish Prime Minister Enda Kenny cheered the project, saying that it is projected to add 300 new jobs by 2017 when the center is expected to begin operations.
Ireland has long struggled to recover after receiving a bailout package from the EU when the financial crisis began.
Since then, the nation’s lawmakers have been working to sure up Ireland’s balance sheet and reduce unemployment.
This year, Irish policymakers have vowed to cut unemployment figures to below 10 percent, something the Apple project will help accomplish.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things in tech you need to know today: Marcio Jose Sanchez/AP Apple CEO Tim Cook introduces Apple Watch , which he is wearing on his wrist, on Tuesday, Sept. 9, 2014, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez) Good morning! After yesterday's ice storm, we should be looking at sunnier skies here in New York. Here's the tech news you need to know today.
1.An Apple employee says that the company is working on vehicle development that will "give Tesla a run for its money."A strange Apple vehicle has been spotted driving around.
2.Apple's new iOS update will reportedly focus on improving performance rather than new features.It's all about fixing bugs and making it faster.
3.Apple could release a faster MacBook Air on February 24.It could have a faster processor and increased memory.
4.Mark Zuckerberg's lawyers claim that one of his neighbors is extorting him.ÂHe built a large house next to Zuckerberg's home.
5.Yelp plans on increasing its salesforce by 40% this year.The news came during its earnings call.
6.Microsoft and Samsung have ended their patent dispute.Microsoft sued Samsung last year, but now they have settled the case.
7.Qualcomm is paying almost $1 billion to settle an antitrust suit in China.It's the largest fine in China's corporate history.
8.Apple unveiled a new iPad ad during the Grammys.It shows how you can use the iPad to make music.
9.A Hong Kong Bitcoin exchange disappeared with £254 million in funds.There are fears that MyCoin may have been a Ponzi scheme.
10.Samsung is warning people not to say personal information when talking to its new SmartTV.Voice data gets recorded and sent over the internet.
NOW WATCH:A 13-Year-Old Made A Revolutionary Invention Out Of Legos And Now Intel Is Investing In His Company
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• 10 things in tech you need to know today || ECB Meeting Minutes Expose Cracks In Central Bankers' Confidence: The European Central Bank's large scale bond buying plan has done wonders for the region's markets.
With the exception ofGreece, European nations' share markets have been on fire since the roll-out of ECB President Mario Draghi's highly anticipated quantitative easing plans.
The stimulus package was also seen improving the bloc's economic struggles, but many are beginning to question whether or not the bank's investment will pay off.
Minutes Show Concern
At the beginning of March, the European Central Bank predicted that the eurozone would grow 2.1 percent in 2017.
The figure was considered a product of the successful implementation of the ECB's bond buying program coupled with economic reform in struggling eurozone nations and gave investors hope that the region was turning a corner.
However, theminutesfrom that meeting, released last week, show that a strong recovery in the eurozone is anything but certain.
Related Link:Euro/Dollar Parity: What's Next?
Projections Uncertain
That 2.1 percent growth target was based on a number of factors, which ECB members said were far from being set in stone. For one, the bank's assessment of growth depended largely on oil prices remaining low throughout the next two years.
While many analysts believe that oil prices are likely to be persistently weak in the coming years due to an imbalance between supply and demand, several scenarios in which production is reduced are possible as well.
Difficulty Agreeing
Additionally, many worry that the bank's growth forecast was too optimistic regarding the willingness of eurozone nations to carry out the necessary reforms to repair the region's fractured financial system.
If the ongoing battle in Greece is any indication of the bloc's ability to come together and agree on similar fiscal objectives, there is going to be a bumpy road ahead.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || IBM Working On 'A Bitcoin Without The Bitcoin': Though bitcoin itself has faced heavy criticism over the past year as public trust in the cryptocurrency's reliability has faded, the technology powering the currency is quietly making major strides toward public adoption. Blockchain, the ledger behind bitcoin, has been hailed by tech enthusiasts as one of the most important inventions of the 21st century. Now, International Business Machines Corp. (NYSE: IBM ) appears to be jumping on board the cryptocurrency revolution using blockchain as its springboard. Eliminating The Middle Man An unidentified source told Reuters on Thursday that the company was working together with the Federal Reserve to explore the use of blockchain to facilitate cross-boarder cash payments. The project would essentially allow users to move money without interference from a third party or banking institution via an open ledger in each nation's currency. If realized, the system would cut down on transaction costs and make international payments easier and more streamlined. The Best Of Both Worlds This digital currency network would allow participants to transact using their home currency rather than being tasked with acquiring bitcoins or another cryptocurrency. Related Link: Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution Additionally, the network would be overseen by the world's central banks, eliminating some of the trust issues that have arisen with bitcoin. However, since talks regarding the project are still in the early stages, neither IBM nor the Federal Reserve have commented on how the new system would potentially work. Only A Matter Of Time Many believe the cryptocurrency revolution is unavoidable, and the world's central banks are beginning to take notice. A recent report from the Bank of England praised the potential benefits of blockchain technology and Ecuador has already begin its own digital currency program. See more from Benzinga Meet Pepper, The Latest House Robot Government Push For Cybersecurity Highlights Growing Demand 'Facebook At Work' To Enter The Office Space © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $1,093.67 (29.39 %). BUY B14.37 @ $257.62 (#BTCe). SELL @ $281.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || Current price: 260.93$ $BTCUSD $btc #bitcoin 2015-03-02 04:00:04 EST || buysellbitco.in #bitcoin price in INR, Buy : 13908.00 INR Sell : 13459.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Jadi bergabunglah untuk memenuhi visinya dalam ibadah youth Dashyat BFA
Minggu, 1 maret 2015 jam 11.00 @ BTC BANDUNG lt.3
Ditunggu ya ;) || @madflavor, You got a bitcoin tip! @alexcoghlan23 wants to send you 7,641 bits ($2.00). Pick it up here ➔ http://changetip.com/c/nqVD?m=2 || buysellbitco.in #bitcoin price in INR, Buy : 17657.00 INR Sell : 17104.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000007
Average $1.9E-5 per #reddcoin
02:00:02 || buysellbitco.in #bitcoin price in INR, Buy : 17202.00 INR Sell : 16672.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $710.73 (18.97 %). BUY B14.89 @ $250.42 (#BTCe). SELL @ $255.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || $240.76 at 16:00 UTC [24h Range: $232.01 - $242.40 Volume: 10039 BTC]
|
Trend: down || Prices: 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Mining Exec Reveals the Key to Sustaining Cryptos Future: If the bitcoin mining industry hopes to survive over the long term, it must embrace renewable energy. Otherwise, the crypto economy's future could be at risk. | Source: Shutterstock Its no secret that mining bitcoin consumes an extraordinary amount of energyin fact, more than the entire country of New Zealand. Such a level of energy consumption is not only a problem for the existential issue of climate change, but also threatens the sustainability of the entire bitcoin (and crypto) economy . If bitcoin mining becomes too costly from an environmental and economic standpoint, the whole network could have a real crisis on its hands. Fortunately, miners are doing something about it by leaning into renewables. Why Bitcoin Matters bitcoin mining Satoshi Nakamotos introduction of Bitcoin as a peer-to-peer electronic cash system in 2008 set off the next 10 years of innovation in distributed technology and cryptocurrencies. If it werent for bitcoin, we probably wouldnt have ICOs, STOs, crypto exchanges, and CryptoKitties. The reason bitcoin was so revolutionary was because, for the first time in internet history, reliance on third-party intermediaries (banks) to validate transactions between entities was eliminated. Ramak J Sedigh, plouton mining Read the full story on CCN.com . || Bitcoin Developers Propose Stronger, Faster Blockchain Network Via Erlay: A new proposal, dubbed Erlay, aims to improve the latency and security of the bitcoin network. | Source: Shutterstock By CCN : Bitcoin core dev Gregory Maxwell left Blockstream last January to focus on deep protocol work, and now he and a few other developers have surfaced with something called Erlay. So Thats What Greg Maxwell Has Been up To Erlay was announced over the last 24 hours in a post to the Bitcoin Core development mailing list by University of British Columbias Gleb Naumenko. Naumenko described it in the following terms: The main idea is that instead of announcing every transaction to every peer, announcements are only sent directly over a small number of connections (only 8 outgoing ones). Further relay is achieved by periodically running a set reconciliation protocol over every connection between the sets of withheld announcements in both directions. [
] Results: we save half of the bandwidth a node consumes, allow increasing connectivity almost for free, and, as a side effect, better withstand timing attacks. If outbound peer count were increased to 32, Erlay saves around 75% overall bandwidth compared to the current protocol. One of the key concerns around Bitcoin is the amount of bandwidth that nodes consume to remain in consensus. The amount of bandwidth required is one of the costs imposed on a full node operator. The Bitcoin blockchain currently stands at over 200 gigabytes, meaning that the initial blockchain download can sometimes take days or even weeks. Erlay, an efficient transaction relay protocol for Bitcoin, is quite exciting for those of us running highly connected nodes. As you can see from my node's stats, the "inv" messages use up ~90% of incoming bandwidth and ~20% of outgoing bandwidth. https://t.co/LKwLq8RIis pic.twitter.com/tzDRBU8lMj Jameson Lopp (@lopp) May 28, 2019 By default, nodes connect to about eight other nodes and receive their information from them. Erlays proponents say that if this number were increased to 32, the amount of bandwidth each node uses could be reduced as much as 75%. Story continues Improved Security, Greatly Improved Efficiency for Bitcoin: Erlay Erlay introduces diffusion to Bitcoin, as opposed to the current method which its authors deem a version of flooding. Transactions and thus, blocks can propagate across the network if a more efficient model is employed. From the Erlay whitepaper : Read the full story on CCN.com . || Bitcoin: The route to $10 million: A Reddit user has posted his version of the maths required for a future $10 million Bitcoin valuation. His assumptions are based on a number of factors including the global amount of millionaires, a $260 trillion stock and derivative market, and Bitcoins intrinsically scarce supply schedule. BuyBitcoinWhileItsLo started his post by reminding people about the fundamental fact that only 21 million Bitcoins will ever exist, and that unlike the dollar (which can be printed continuously forever), a Bitcoin is infinitely divisible So no matter how expensive one coin gets, infinite fractions of it can be purchased and used. They all cant grab a full Bitcoin BuyBitcoinWhileItsLo estimated that there are 36 million millionaires in the world today, and by the time every one of them tries to grab a full Bitcoin when it becomes a must-have investment, there wont be enough for all of them. In the Reddit post which was titled My best attempt to simplify the math of a 10 million dollar Bitcoin the user predicted that this would easily push one coin past 1 million dollars in value when they [the millionaires] try to grab a whole coin. Regarding traditional markets, he said there is $260 trillion in the global stock markets through stocks and derivatives, or what others call institutional money. Once Bitcoin is allowed to be traded for stocks, that $260 trillion is open to be put behind Bitcoin. The Reddit user said that when this happens: $260 trillion divided by 21 million Bitcoins puts one Bitcoin over $10 million a coin, or $12 million a coin to be exact. This will likely happen in our lifetime. That makes every dollar invested even at an $11,000 price could be worth $1,000 in possibly 10 years at this rate. Scarcity by design Moving on to the topic of Bitcoins supply schedule, BuyBitcoinWhileItsLo said: Every four years the distribution of Bitcoin going out gets cut in half. So in the first four years 10.5 million Bitcoins went out, and the demand was small so the price was cheap it went from less than a penny in 2009 to $1,000 in 2013 when it first halved. Story continues Thats where we are now. So currently only 5.25 million Bitcoins are going out, which is why the price is running up since investors know this, and they always start to buy before a halving to grab coins before there is less to go out. Never buy during all-time highs The Reddit user said: The next halving is next year summer 2020. After that, only 2.125 million Bitcoins will be going out with $10 trillion in institutional markets being opened up. The potential is anywhere from $100,000 to $500,000 in the short term by late 2020 or early 2021, then another 80+% drop as usual. The Bitcoin bull concluded: At the current prices, youre in a good position to be fine after the next correction/drop thatll come after the upcoming halving skyrockets the price. I for one wont stop accumulating till we break $20,000. My golden rule is to never buy during all-time highs. The post Bitcoin: The route to $10 million appeared first on Coin Rivet . || Natural Gas Price Fundamental Weekly Forecast – Price Action Suggests Traders Pricing in Return of Hot Temperatures: Natural gas futures finished higher last week with some speculative buyers coming in to defend the previous week’s low at $2.305, in anticipation of the return of hotter temperatures late in the month. The government report was also supportive, but investors were primarily focused on the forecasts. The chart indicates there is room to the upside for a short-term counter-trend rally, but it doesn’t suggest a change in trend to up is imminent.
Last week,August Natural Gasfutures settled at $2.381, up $0.050 or +2.15%.
The U.S. Energy Information Administration (EIA) reported Thursday that domestic supplies of natural gas rose by 102 billion cubic feet (Bcf) for the week-ending June 7. Traders were looking for a reading of 110 Bcf.
Total stocks now stand at 2.088 trillion cubic feet (Tcf), up 189 Bcf from a year ago, but 230 Bcf below the five-year average, the government report showed.
According to NatGasWeather for June 14 to June 20, “A large weather system and associated cool shot will fizzle across the northern and eastern US the next few days with highs of 60s to 70s. This system also brought cooling to the South and Southeast, although warming back into the upper 80s to 90s this weekend. Strong high pressure continues heat across the West with highs of 80s to 100s for regionally strong demand, although cooling next week. The South and East will be quite warm Sunday into early next week with highs into the 90s, then cooling mid-next week back into the 70s and 80s. Overall, demand will be moderate to low.
Early in the week, trader reaction to a minor top at $2.406 will tell us if the short-covering is getting stronger. If momentum begins to build on this move then the rally could eventually extend into the short-term pivot price at $2.518. This rally will look impressive on the short-term charts, but it will only represent short-covering.
We’re going to be keeping an eye on the 11- to 15-day forecast. If the forecasts call for increased heat then look for a breakout over $2.406 with $2.518 the minimum upside target. If the forecasts call for temperatures to return to normal then look for a range bound trade. This won’t be bearish, per se, but it could allow speculators or professionals to build a support base before attempting to take the market higher.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/06/19 || Digitex Futures CEO Adam Todd: Never give up: Adam Todd is the CEO & Founder of Digitex Futures, a zero-fee non-custodial cryptocurrency futures exchange. Adam wants to lower the barrier to trading and open up new markets to crypto traders including traditional futures such as stocks, indices, Forex, and gold.
With a background as a futures trader in the City of London, he saw first hand how much commissions ate into his bottom line. Since then he has tinkered with ways of delivering value to traders without forcing them into the commission trap. In this profile he explores his journey into blockchain and why anyone looking to work in this space needs a steely resolve to get things done.
I heard ofBitcoinin 2013 and I thought it was really interesting. But when I discoveredEthereumin 2015 it felt like the missing piece of the internet. I always dreamed of creating a commission-free trading environment and the ability to create your own token meant that I could come up with a way of removing commissions by making traders use it to buy and sell contracts.
I started working on Digitex in January 2017 and created Digitex, Ltd in December 2017.
We allow retail traders a level playing field to trade, enabling them to make a living out of it and achieve financial freedom. Where they are from and their background or education is irrelevant. They just need to have a willingness to learn and dedication to trade.
We don’t charge any trading commissions and we don’t give preferential treatment to institutional market makers. This creates a very conducive environment for short term scalpers to make a living from accumulating a small amount of profit over time.
We’re also giving them exposure to key traditional futures markets such as commodities, gold, indices, and stocks and allowing retail traders in these markets the chance to try trading their favorite markets commission-free.
On top of that, we’re working to offer non-custodial accounts, which are much harder to hack and means that traders never have to trust the exchange with their money.
Never give up. I was never sure whether my dream was crazy, my plan for Digitex would be laughed at, or how people would respond. But the idea has sold itself.
I was the founder and CEO of RacingTraders.com. I developed a software application that submitted bets into Betfair with a single click, and then built a large community of Betfair traders around it. Some 14 years later, BetTrader is still online and still popular with Betfair traders.
I started out my career as a pit trader in London. It was a highly frenetic, energetic, fast-paced and stressful place to work. Every day surrounded by foul-mouthed (mainly) young men yelling and calling out their trades. After nearly four years of trading in this aggressive way, I took a lengthy break and traveled around the world.
I went to some very remote places like Mozambique and other parts of Africa. I did some small jobs to keep on financing my traveling, from working as a deckhand to betting on horses online.
All the time I did that, I met some incredible people and still had this dream in my mind of commission-free trading. The closest I came to that was with Betfair, the world’s largest betting exchange, where I traded horse racing prices.
I knew nothing about horses but traded the contracts like futures trading and my longest winning run was 240 consecutive winning days, winning an average of 9 races out of 10. Then I discoveredEthereumand the rest, as they say, is pretty much history.
Development. There is still a shallow talent pool of really excellent blockchain developers. Ones that understand the requirements of a commission-free futures exchange are even fewer and further between.
That’s been our biggest challenge so far but we’re confident that we have finally nailed down the development with our new team and that we’ll be launching an exchange to compete with the big guns very soon. Better than that, we’ll be non-custodial and offer a variety of futures markets which not a lot of people are doing in this space.
Never give up. I was never sure whether my dream was crazy, my plan for Digitex would be laughed at, or how people would respond. But the idea has sold itself. Our ICO sold out in 17 minutes, we accumulated 1.5 million people on our waitlist, people are literally knocking down our doors for the project launch.
We’ve suffered a couple of setbacks, but instead of taking them lying down, we have persevered. Setbacks are par for the course in business; it’s how you respond to them that matters.
Build a good team that you can rely on. Always try to surround yourself with people smarter than you. That’s quite easy to do, especially if you’re new to blockchain, but also don’t let that intimidate you. Don’t take no for an answer.
Learn what you don’t know so that you can tell whether a developer, interviewer, or marketer is being truthful with you. And, as they told me, never give up, don’t let one or two setbacks throw you off. You are bound to have them, so learn how to deal with them fast.
The ICO. We underestimated the interest in it and had to refund quite a lot of ETH after we sold out in only 17 minutes, so probably should have looked to raise more. I would have also been more involved with development from the very start and been clearer and more forceful about what I wanted.
Hindsight is a wonderful thing and this space is evolving at breakneck speed. I wish that we had been able to launch sooner, but all good projects suffer delays, and we will be all the stronger for it.
We’ve suffered a couple of setbacks, but instead of taking them lying down, we have persevered. Setbacks are par for the course in business; it’s how you respond to them that matters.
Ethereum. We have actually made the decision to go completely all-in on Ethereum. It has the best developer community, the mostdapps, huge companies building on it, the most use cases, and it has enabled us to build our business.
I think the future of Ethereum is extremely bright and really excited to see how they manage the transformation toProof of Stakeand which scaling solutions will come out on top.
It’s going to surpassBitcoinin the next few years and as the world computer will bring about the entiredecentralizationof the web. The future is extremely exciting and the Ethereum guys are leading the charge.
I’m the handstand champion of Miami, winning it 3 times in the last 4 years at the biggest annual outdoor calisthenics event in South Florida. I can also skateboard on my hands for about 100 metres. I also love freediving and can dive 75 feet underwater holding my breath.
I am keen to see how regulation evolves over the next few years and hope that it will start to keep the pace with technology. KYC has no place in cryptocurrency. You don’t have people asking for an ID photo to use WhatsApp. Bitcoin and other cryptocurrencies are no different. I hate to see companies forced into complying (ourselves included) with this.
I don’t know if it will beFacebook’s GlobalCoin, but it may be, although it seems that Facebook users are the wrong generation and the trust isn’t there anymore. However, if it isn’t Facebook, it will be some large gaming or social media platform that takes it to the masses. eBay and Amazon, something already massive that propels crypto into the public consciousness (and that invest in the space) will be the killer app.
It’s harder. You’re breaking new ground and trying to run a company in an uncertain regulatory framework. You may spend several months working on something and then very quickly realize that may become redundant soon. You have to almost sleep with your eyes open as the developments here happen so fast.
You don’t have the same procedures and checkpoints that you do with a regular business, it’s very hard to open a bank account, for example, and many crypto companies struggle with that, it’s just much more difficult than a “regular” business. But it’s also much more exciting being on the cutting edge of technology rather than simply rolling out another business in an already saturated space.
It’s an extremely valuable technology, perhaps even more important than the internet because of the possibilities and the potential it has. The internet may have allowed people to share knowledge instantly, however, blockchain allows people to transfer value instantly. You could call it the internet of money or the internet of value, in that it truly allows for people around the world to transfer funds from one person to another without intermediaries in adecentralizedway.
Why is that important? Because banks and centralized authorities are gatekeepers preventing the majority of the population from advancing, from lifting themselves out of poverty, from becoming wealthy. Blockchain allows for this without any centralization, it is huge. It also can’t be tampered with, shut down, or controlled by any central entity which means that for the first time, the power really is with the masses and not a select few. || 4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time: As bitcoin’s price keeps setting new yearly highs , the question on everyone’s mind right now is whether it’s different this time. Let’s take a closer look at why this rally is nothing like the “bubble” in 2017. Bitcoin all-time performance Bitcoin all-time performance. Source: coin360.com As many experts pointed out, BTC going above the key psychological $10,000 mark is likely to trigger FOMO (i.e., fear of missing out), according to Fundstrat’s Tom Lee, who adds that bitcoin can now easily take out its all-time highs. Other market analysts, such as Tone Vays, however, disagree. He told Cointelegraph: “I actually don’t think it’s important at all. The $10,000 benchmark did nothing to slow down price back in 2017. And it looks like it did nothing to slow down the prices here in 2019.” Institutions, not retail, in the driver’s seat Bitcoin broke through into the mainstream in late 2017. At the time, its historic surge to nearly $20,000 was driven mainly by retail investors. This time, however, the public is still largely on the sidelines, according to Google Trends. In fact, the number of Google searches for “bitcoin” is only around 10% of what they were in 2017. In other words, retail investor FOMO has not even started yet, which may suggest that BTC price could go much higher than last time. On the other hand, institutional demand for bitcoin has soared . As of June 17, open interest at CME Group saw 5,311 contracts totalling 26,555 BTC, or approximately $246 million — dwarfing the volumes during the 2017 price peak. “CME Bitcoin futures (BTC) shows growing signs of institutional interest,” CME Group tweeted June 18. “BTC open interest rose by a record 643 contracts in a single day, establishing a new all-time high of 5,311 contracts on June 17 (26,555 equivalent bitcoin; ~$250M notional).” Other indicators, such as the GBTC price premium as well as record volume for bitcoin derivatives exchange BitMEX (on a Saturday!), also suggests that “smart money” is pouring in. Story continues Network fundamentals better than ever As Cointelegraph reported on Friday, hash rate hit a new all-time high at over 65,000,000 TH/s. In other words, Bitcoin is more secure than ever and would require an unfathomable amount of computing power to affect the network. Bitcoin network Hash Rate Bitcoin network Hash Rate. Source: blockchain.com Meanwhile, other fundamentals have also grown in lockstep with hash rate. Daily on-chain transaction volume, block size and other metrics are also confirming that more people than ever are using bitcoin. Additionally, network transaction fees have remained relatively low compared to 2017, with optimizations like SegWit and off-chain scaling solutions like the Lightning network helping ease congestion. Bitcoin reward halving still 11 months away The latest rally to five figures is also happening way before the Bitcoin block reward halving set for May 2020. This is when mining block rewards will be cut from 12.5 to 6.25 BTC, thus reducing the bitcoins minted by miners who are naturally market sellers. Interestingly, the previous halving event occurred in the summer of 2016 — or more than a year before the price skyrocketed.This time, however, BTC/USD appears to be front-running the event, as the halving is still 333 days away. A popular bitcoin market analyst known as PlanB suggests that investors may not be waiting this time around for the expected reduction in supply. He added : “Front running would be in line with Efficient Market Hypothesis: if you believe S2F and that BTC will be $50k May 2020, why wait?” The bigger macroeconomic picture Of course, intraday BTC price moves are not as important for low time preference investors. These “hodlers” are confident that bitcoin — with its fixed supply — will outperform fiat currencies, whose supply is growing at an accelerating pace over the long term. On June 18, European Central Bank head Mario Draghi hinted that a monetary stimulus is on the way if the economy doesn’t improve. This is an increasingly dovish tone that was applauded by the financial sector. At the same time, Draghi was criticized by United States President Donald Trump, who said this would spark unfair European competition against the U.S., whose Federal Reserve bank is also suggesting it will hold off on raising interest rates. Morgan Creek co-founder Anthony Pompliano tweeted that this will make bitcoin even more scarce as interest rates go lower and more fiat currency is created: “Cut rates. Print money. Make BTC more scarce. Long Bitcoin, Short the Bankers!” Therefore, the biggest macroeconomic picture looks bright for bitcoin investors who are dumping ever-depreciating fiat currencies for hard-capped “digital gold.” What’s more, investors are starting to not only realize that bitcoin’s supply is fixed and transparent, but it’s also the world’s first neutral, open-access money that no authority can control. In other words, what the internet did to information, bitcoin is starting to do to money. Historic BTC market cycles, rising institutional interest alongside an increasingly robust network fundamentals, as well as the confirmed depreciating value of fiat currencies, could all propel bitcoin’s price orders of magnitude higher than in 2017. Crypto markets one-week performance Crypto markets one-week performance. Source: coin360.com Related Articles: Key Bitcoin Price Indicator Suggests $21,000 ‘Fair Value’ By End Of 2019 ETH Hits 10-Month High as Crypto Markets See Solid Green Bitcoin Breaks $10,000 for First Time Since March 2018 Mike Novogratz’s Galaxy Digital to Launch Crypto Options Contracts Trading: Report || Democrats debate ‘who is this economy really working for?’: Morning Brief: Thursday, June 27, 2019
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Nike (NKE) will take centerstage Thursday.
The shoe giant will release quarterly financial results after the market close on Thursday. Nike is expected to report adjusted earnings of 66 cents per share on $10.16 billion of revenue. In addition, the options market is implying a 5% move in either direction when Nike reports.
Other companies scheduled to report Thursday include ConAgra (CAG) and Walgreens Boots Alliance (WBA) ahead of the opening bell.
Read more
Democrats debate ‘who is this economy really working for?’: Democratic presidential candidates took the stage for their first televised debate Wednesday night in Miami, and for part of the two hours, focused on the millions of Americans who have not been enriched by stock market highs and an economy not boosting all. Right off the bat, the 10 candidates weighed in one of the central issues in the U.S. –income inequality; 10% of the wealthiest households in the U.S. own 60% of the wealth. They also revealed their disagreements over how the health care system should be set up. [Yahoo Finance]
China’s Xi to present Trump with trade terms: WSJ: Chinese President Xi Jinping plans to present U.S. President Donald Trump with a set of terms the United States should meet before Beijing is ready to settle their trade dispute, the Wall Street Journal reported on Thursday. [Reuters]
Zuckerberg: The government shouldn’t ‘take a big hammer’ to Facebook: Facebook (FB) CEO Mark Zuckerberg is pushing back against calls for a company breakup. During a conversation with Harvard Law School professor Cass Sunstein at the Aspen Ideas Festival on Wednesday, the CEO said that dismantling the social media behemoth wouldn't solve the company’s problems — including election interference, privacy matters, or misinformation. [Yahoo Finance]
Also:Zuckerberg defends Facebook's decision to keep up Pelosi ‘deepfake’ video[Yahoo Finance]
New software glitch found in Boeing's troubled 737 Max jet: A new software problem has been found in the troubled Boeing (BA) 737 Max that could push the plane's nose down automatically, and fixing the flaw is almost certain to further delay the plane's return to flying after two deadly crashes. [AP]
Huawei personnel worked with China’s military: Several Huawei Technologies Co. employees have collaborated on research projects with Chinese armed forces personnel, indicating closer ties to the country’s military than previously acknowledged by the smartphone and networking powerhouse. [Bloomberg[
Also:Huawei warns US patent curbs would hurt global tech[Associated Press]
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. || Secret’s Out: Goldman Sachs is Scouting its Cryptocurrency Chief: Investment banking giant Goldman Sachs is looking for talent to lead its crypto project. | Source: Shutterstock Look out, Facebook! Goldman Sachs is now hiring a cryptocurrency project manager. The firm wants their new project manager to lead the development of Distributed Ledger Technology. The Wall Street bank’s foray into cryptocurrency is part of its GS Accelerate initiative. Goldman Sachs is Signing up Customers for its Bitcoin Trading Product: Report https://t.co/VOcaLh15aM — CCN Markets (@CCNMarkets) October 30, 2018 The open Vice President / Executive Director level position will be responsible for developing, “comprehensive road maps for distributed ledger technology development.” They want the new project manger to manage Goldman engineers to create distributed ledger projects. Is Goldman Sachs Creating Its Own Cryptocurrency? Goldman Sachs denied rumors earlier this year that the investment bank was planning to open a crypto trading desk. The rumors of a Goldman crypto trading desk have persisted ever since a mistaken Bloomberg report from December 2017. Goldman Sachs CEO David Solomon put the scuttlebutt to rest in a decisive statement this April: “That Bloomberg article was not appropriate. Like others, we are watching, plus doing work to try and understand the cryptocurrency marketplace as it develops. We have some clients that have certain functionality that we’ve engaged with on clearing physically-settled futures. But other than that, we never had plans to open a cryptocurrency desk.” Read the full story on CCN.com . View comments || Bitcoin Sees Support at $10,000 After Giving Back Much of Rally: (Bloomberg) -- Bitcoin stabilized at around the $10,000 level after a sell-off erased much of its monster gain from last week.
The largest digital asset pared most of its earlier 7.8% drop on Tuesday and was trading at $10,454 as of 11:49 a.m. in New York. Other cryptocurrencies also pared their declines, data compiled by Bloomberg show.
Bitcoin found support just below the $10,000 level after a volatile week that saw its price leap 23% after oscillating widely between gains and losses, at one point plunging more than $1,800 in a matter of minutes. It’s still up more than 180% since the start of a year that’s seeing wider acceptance of digital coins from corporate giants, including Facebook Inc., which unveiled plans for its own token.
The volatility follows comments from notable crypto skeptic Nouriel Roubini, the head of Roubini Macro Associates, sometimes known as “Dr. Doom,” who said at a blockchain summit in Taipei that there is “massive, massive amounts of price manipulation” in the crypto space.
But not all are as gloomy about Bitcoin’s outlook. Cedric Jeanson, chief executive and founder of crypto asset management and advisory firm BitSpread Ltd., sees the volatility as an opportunity. He anticipates Bitcoin will surpass its previous record of more than $19,000 reached in 2017.
“The real trend is buy and hold,” Jeanson said. “As soon as it goes down, people find opportunities to buy it at what they consider to be ‘on the cheap.”’
To contact the reporters on this story: Vildana Hajric in New York at [email protected];Gregor Stuart Hunter in Hong Kong at [email protected]
To contact the editors responsible for this story: Jeremy Herron at [email protected], Todd White, Rita Nazareth
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || BIG Blockchain Intelligence Group provides update on acquisition of Netcoins Operations: Vancouver, British Columbia--(Newsfile Corp. - July 9, 2019) - BIG Blockchain Intelligence Group Inc. (CSE: BIGG) (OTC Pink: BBKCF) (WKN: A2JSKG) ("BIG" or the "Company") wishes to provide an update on its proposed acquisition of the Netcoins operations. On May 27, 2019, the Company announced that it had entered into a definitive share purchase agreement (the "Agreement") with Netcoins Holdings Inc. (CSE: NETC) (the "NETC") whereby BIG will acquire all of the issued and outstanding shares of its three subsidiary companies - Netcoins Inc., NTC Holdings Corp., and NTC Holdings USA Corp. (collectively, "Netcoins") by issuing 37,500,000 common shares (the "Payment Shares") to NETC at a deemed price of $0.08 per Payment Share (the "Transaction"). The business of BIG and Netcoins are highly complementary, and the Transaction is expected to create value for shareholders in both the near and long-term. It offers BIG an opportunity to step into the world of cryptocurrency trading, in an immediately operational capacity. Netcoins has over 171,000 retail locations globally, a self-serve crypto purchase portal and an institutional over-the-counter (OTC) trading desk. Natural synergies include the integration of BIG's sophisticated compliance and analytics services into Netcoin's offerings, which should serve to propel its retail and institutional trading platforms in particular. As a ground-floor entrant into the cryptocurrency space, BIG's aggregated knowledge and experience accumulated over several turbulent years has led to the determination that the time is right for consolidation within the cryptocurrency market, and the belief that additional opportunities will open up for a larger, stronger and more diversified combined company. BIG's focus will continue to be on capturing and building out a strong position in the vast market opportunity offered by the emerging cryptocurrency sector. With wider adoption of cryptocurrency underway, the groundswell movement to introduce and implement regulation and controls to safeguard investors will continue to grow - spurred on by the entry of global corporations into the sector. Recent news of Facebook partnering with other industry giants to launch Libra, a digital coin intended to simplify online payments and purchases, and of banking behemoth JP Morgan's impending release of the JPM coin, will likely have the effect of driving forward regulation while simultaneously adding legitimacy to the sector. Story continues As it looks to fulfill its mandate of bringing cryptocurrency mainstream through it's "compliance first" approach, BIG will seek to reduce transactional risk across a broader base - one that includes regulators, compliance experts, law enforcement, institutional traders, and the public at large. The cryptocurrency market is evolving quickly, with Bitcoin continuing to lead the way. After the highs of late 2017 and depths of the 2018 crypto winter, BIG anticipates this next phase will see a more mature Bitcoin that has stronger fundamentals with growth attributable to the entry of financial institutions into the sector. BIG has long believed in the enduring nature of Bitcoin. Prior to the most recent price escalation, the Company added to its BTC holdings, more than doubling its investment. It now holds 56.59 BTC at an average cost of USD$5,070 (CAD$6,819) per coin. At today's BTC price of roughly USD$12,500 (CAD$16,500), its BTC holdings are valued at USD$707,000 (CAD$933,700), with unrealized gains of approximately USD$420,000 (CAD$548,000). Completion of the Transaction remains subject to certain closing conditions and obtaining all necessary approvals, including the approval of the Canadian Securities Exchange (the "CSE") and the approval of NETC shareholders and other conditions which are customary for transactions of this nature. Closing of the proposed Transaction is now expected to be on or about July 31, 2019. On behalf of the Board, Shone Anstey Executive Chairman About Netcoins Netcoins is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. About BIG Blockchain Intelligence Group Inc. BIG Blockchain Intelligence Group Inc. (BIG) brings security and accountability to the new era of cryptocurrency. BIG has developed from the ground up a Blockchain-agnostic search and analytics engine, QLUE TM , enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually trace, track and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a "risk score" for cryptocurrency, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements. Our Forensic Services Division brings our team of investigative experts into action for cryptocurrency investigations that require in-depth expertise and experience, either in conjunction with or supplemental to our user-friendly search, risk-scoring and data analytics tools. Based on industry demand, we created our Cryptocurrency Training Academy ( www.CryptoInvestigatorTraining.com ) to help Law Enforcement, the Financial Sector and Regulators learn how to bring security and accountability to cryptocurrency; our Cryptocurrency Investigator Certification Course is a one-stop solution to understanding the world of cryptocurrency, how to reduce associated risk, and investigate cryptocurrency crime. About BitRank Verified ® BIG developed BitRank Verified® to be the industry gold standard in ranking and verifying cryptocurrency transactions. BitRank Verified® offers the financial world a simple risk score, enabling consumer-facing bank tellers, exchanges, eCommerce sites and retailers to know whether a proposed transaction is safe to accept, questionable, or should be denied. BitRank Verified® and its API are custom tailored to provide the RegTech sector with a reliable tool for meeting their regulatory requirements while mitigating the risk of money laundering or other criminal activities. About QLUE TM QLUE (Qualitative Law Enforcement Unified Edge) enables Law Enforcement, RegTech, Regulators and Government Agencies to literally "follow the virtual money". QLUE incorporates advanced techniques and unique search algorithms to detect suspicious activity within cryptocurrency transactions (Bitcoin, Ethereum), enabling investigators to quickly and visually trace, track and monitor transactions in their fight against terrorist financing, human trafficking, drug trafficking, weapons trafficking, child pornography, corruption, bribery, money laundering, and other cyber crimes. About the Crypto Fusion Center BIG created the Crypto Fusion Center (CFC) to serve as a community resource dedicated to fighting the criminal use of cryptocurrencies. The CFC's mission is to maintain and promote the legitimacy of cryptocurrencies while protecting the market as a whole by identifying and isolating criminal events as they occur. The CFC enables entities in all sectors to notify major participating exchanges, financial institutions, and law enforcement agencies in a timely manner when cryptocurrency thefts occur. The CFC is a direct result of BIG's greater mission of bringing cryptocurrencies mainstream through social responsibility. Entities interested in learning more about the Crypto Fusion Center or considering participating in the community can visit the CFC here: https://cryptofusioncenter.com/ About Our Expert Training We offer custom on-site and 24/7 online training, enabling Law Enforcement, the Financial Sector and Regulators to understand cryptocurrency risk and successfully investigate suspicious activity. Our in-person, on-site training solutions are designed to fit our clients' scheduling, location and learning needs. Through our online Cryptocurrency Training Academy ( www.CryptoInvestigatorTraining.com ), clients can take our Cryptocurrency Investigator Certification Course to earn their Certified Cryptocurrency Investigator credential from BIG to validate their new knowledge. About Our Forensic Services Division Our Forensic Services Division provides Law Enforcement, Financial institutions and Regulators with expert support to help trace, track and monitor illicit activity involving cryptocurrencies. Our services range from quick and simple due diligence case reviews, to providing in-depth forensic support for ongoing investigations, and providing expert witness testimony from unbiased third-party investigators. BIG Investor Relations Anthony Zelen D: +1-778-819-8705 email: [email protected] For more information and to register to BIG's mailing list, please visit our website at https://www.blockchaingroup.io/ . Follow @blocksearch on Twitter . Or visit SEDAR at www.sedar.com . Forward-Looking Statements: Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIG's expectations include, consumer sentiment towards BIG's products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46174
[Random Sample of Social Media Buzz (last 60 days)]
Price of 1 BCH to USD: $409.28 (Change: -0.15 %)
Price of 1 BCH to BTC: 0.03578903 Ƀ (Change: -0.03 %)
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Juan Guaidó autoproclamado presidente de Venezuela una marioneta masón illuminati
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Trend: up || Prices: 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-08-17]
BTC Price: 257.98, BTC RSI: 36.03
Gold Price: 1118.60, Gold RSI: 51.75
Oil Price: 41.87, Oil RSI: 24.96
[Random Sample of News (last 60 days)]
In Oregon, The Holiday Weekend Was Red, White, Blue And Green: On Friday, people in Oregon celebrated the state's legalization of recreational marijuana use. The state's more relaxed drug policy went into effect on Wednesday, though retail sales of the stuff isn't set to be allowed until next year. To get around rules barring the sale of recreational marijuana, cannabis enthusiasts organized and event called " Weed the People " on July 3 at which growers, artists, producers and anyone involved in the field could show off and offer samples of their latest offerings. Big Draw The event drew around 1,400 participants who were willing to pay a $40 entrance fee in order to sample the various cannabis-themed products inside. As the state won't accept applications for recreational sales permits until January, pot companies are using events like this one to get their products into the hands of consumers. Growers at the event offered free samples of their strains and artists sold hand-made glass pipes with which to smoke it. Related Link: Get Your Greens: Farm-To-Table Marijuana Shifting Tides The event signaled a shifting tide in the U.S. as more and more consumers call for legalized marijuana. While recreational marijuana is still outlawed in most U.S. states, places like Colorado and Oregon have proven that there is a demand for a recreational marijuana market. Not only has it become a part of mainstream culture, but the marijuana industry is poised to bring in thousands of tax dollars for local governments as it grows. See more from Benzinga Bitcoin Glitch Costs Miners Thousands What Does Greece Do Now? What's Next In Greece: Will Tsipras Stay And Will We See A Grexit? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Meet 'Dope' Breakout Shameik Moore, Who Went From YouTube Tween to Rising Star: The Sundance Film Festival favorite Dope hits theaters on Friday, and, if all goes according to plan, Americans will soon be living in Meaks World. Directed by Rick Famuyiwa ( Brown Sugar , The Wood ), Dope features 20-year-old newcomer Shameik Moore as Malcolm, a 90s hip hop-obsessed geek who hopes to escape from his rough Los Angeles neighborhood and attend Harvard. Its an unlikely jump for Malcolm, given the obstacles on the long uphill road from his humble childhood home, and in that way, Moore can certainly relate: A native of Atlanta with no real Hollywood connections, he decided to become a professional dancer once he saw the 2004 hit You Got Served , and began plotting a singing career after seeing Chris Brown in concert when he was 13 years old. All these interviews Im doing this is the kind of stuff that I was dreaming about doing when I was younger, Moore told Yahoo Movies from a hotel in L.A., where he was preparing to go on Jimmy Kimmel Live . I was praying for people to want to write about me. I wanted people to hear my music, I wanted to perform, I wanted to be on billboards. Moore belongs to the first social media generation, made up of kids who lied about their ages to join Facebook in the late aughts, when no one younger than a high school freshman could register. Young stars have been taught to establish their personal brand from day one, and once Moore began training at the We Entertain arts complex in Atlanta, he came up with Meaks World, which was a combination of a mantra, mission statement, and trademark to tie together his various creative endeavors. Meaks World is the world I created when I was 12, when I got into the industry, he said. I said, I have to do it myself. Its not going to be given to me. It has to be Meaks World. He wasnt an overnight success, but he worked hard at building a small fan base mostly via YouTube. His channel still hosts videos that stretch back six years, with everything from episodes of a webcam show called Meaks World to breakdance performances to direct appeals to Hollywood directors, like the one below: Story continues From that point in early middle school, Meaks World was built slowly, with a foundation made of mostly music video appearances and small roles in films like Joyful Noise and The Watsons Go to Birmingham . Then Famuyiwa , whod been struggling to cast the Malcolm role , noticed Moore while watching audition tapes several years ago, and flew him to L.A. for an in-person tryout. It didnt go very well, at least in their initial meeting. I got really nervous, Moore remembers. For like 98 percent of my life, Im not nervous. But as soon as Im nervous, I start shaking or something, and I lose my cool. Still, Moore says he didnt realize how badly he wilted in the spotlight until his agents called to tell him that Famuyiwa was willing to give him one more chance. Obviously, Moore nailed it the second time around, putting the rare case of nerves behind him and grabbing the part of the ambitious, conscientious, and very well-dressed Malcolm. Watch the trailer for Dope: Moore plays Malcolm as a vulnerable, but ultimately resourceful kid destined for greater things. The character who quotes N.W.A. lyrics and plays in a punk band uses his blend of street smarts and geeky know-how to unload a stash of drugs, aided by his two best friends, played by Transparents Kiersey Clemons and The Grand Budapest Hotels Tony Revolori. Theres also a girl, of course: A local (Zoë Kravitz) whom Moore tutors and eventually tries to win over. Its a nuanced role in a film that puts a fresh spin on the classic gotta get out of here coming-of-age film a 21st century Risky Business or Saturday Night Fever set in South Central. The teens deal with Bitcoin and Instagram , ogle old vinyl records and tap into the Dark Web, making Dope an earnest adventure inside a maze of zeitgeist. Its a film that takes a fresh look at a world largely written off by Hollywood, even though its just miles down the road. Dope will no doubt be Moores breakout turn, and hes long prepared for this wave of publicity. In the grand tradition of hip-hop culture, Moore has worked on establishing a sort of brand name that combines his ambition and self-regard; as he often mentions on Twitter , hed love to be known as #KingSAM. Its a hashtag monicker that he hopes becomes the catch-all identity for all of his artistic pursuits each letter in his initials carries its own meaning; the M for Moore also suggests he always leaves the audience wanting more. Why brand himself so early? Its to take control of the narrative, Moore says, before someone else can begin to write it. It makes sense from a business standpoint, as its unlikely that the news media would be quite as invested in his careers success as Moore is himself. He talks about being grateful and staying humble quite often, so he doesnt lack self-awareness. He just also knows that in an increasingly crowded media sphere with countless young social media stars and performers obsessing over their brands and follower count, he has to be overly proactive. Dope , Moore hopes, will also help launch his music career. To coincide with the films release, Moore, who worked with producer Pharrell and co-star A$AP Rocky during the films production, is dropping some new music of his own. Its not a mixtape or EP; I call it a soundtrack, he says, explaining that the tracks will be about his upbringing and life in Georgia. Its called 30058 his childhood zip code and will be available on his website . And hes got a full album that he plans to release next spring, soon after the release of The Get Down , the Netflix series on which hes currently working. While Dope s Malcolm was obsessed with 90s hip hop, the Netflix show, which is being made by Baz Luhrmann, focuses on the birth of hip hop in the 70s South Bronx. Moore gets to rap, sing and b-boy dance, and this time, he plays the bad boy, he says, teasing a very different look from his breakout role. Moore seems to have a solid game-plan, thanks in part to all the years he spent preparing to capitalize on the opportunities he hustled so hard to secure. He certainly doesnt lack for confidence, but also knows his journey to turning Hollywood into Meaks World has really only gotten started. I cant assume that people see me the way I see myself, Moore offered. I have to show them. But I cant do it in a way where its too much, where its rude. I feel like when youre a king, you lead. And I just see myself as a king, or as something more than just a regular human being. Watch Forest Whitaker talk about Dope: || Is Iran's Nuclear Agreement A Done Deal?: While it may seem like the hardest negotiations are over, the nuclear agreement made between Iranian officials and Western diplomats was only the beginning. Now the deal will be scrutinized around the world as the U.S. and its allies debate whether or not the agreement's benefits outweigh the risks. Republican Majority One arena where the deal is likely to face a lot of opposition is U.S. Congress. As Republicans represent the majority in both the Senate and the House, there could be a lot of pushback against the nuclear deal during Congress' 60 day review period. However, in order to completely overturn the deal and ensure that it is not passed, Republicans would need to gain support from many of Congress' Democrats. Since the bill represents a major policy aim for Obama, who is backed by the Democrats, Republicans are unlikely to get the votes they need to kill the deal. Related Link: Is Russia Next To Adopt Bitcoin? Middle Eastern Worries The U.S. isn't the only place the deal faces opposition. In the Middle East, many of the U.S.' allies worry that the deal will give Iran too much power. While Iranian officials have promised to curb the nation's nuclear activities in accordance with new restrictions laid out in the agreement, Israeli Prime Minister Benjamin Netanyahu said that the financial power that relaxed sanctions will give Iran will spell disaster for the region. Netanyahu said he plans to lobby against the deal as he believes it will allow Iran to provide financial support to its allies, namely Syria. See more from Benzinga Greece Receives Bailout Deal: Now What? Can Greece's Latest Reform Proposal Be Trusted? Greece To Plead Its Case At A Last-Chance Summit © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 3D Printer And A Latte, Please: In Europe, 3D printing cafes are popping up in major cities across the bloc as the technology gains traction among average consumers. Cities like Barcelona and Madrid are home to the cafes, which boast 3D printers that customers can use to design whatever they like. Trying It Out The rise of 3D printers for home use has made the cafes a success, as it gives customer the opportunity to use the technology without paying upwards of $1,000 to buy their own. After submitting their designs, customers can order food and beverages while they wait for their item to print. Everything from cellphone holders to action figures can be made in the cafe. Related Link: Analyst Calls 3D Printing 'Massive Clash Of Hype Vs. Reality' Too Complicated For The Masses Companies like 3D Systems Corporation (NYSE: DDD ) and Stratasys, Ltd. (NASDAQ: SSYS ) have developed desktop 3D printers for use in people's homes. Many saw the printers expanding in popularity and eventually becoming a household staple, but critics say there is a long way to go before the technology becomes usable for the average consumer. At the moment, complicated designs must be fed into the printer in order to make an object and the skills needed to create such drawings requires time and effort as it isn't easily picked up. Making 3D More Accessible However, 3D printing cafes have filled the gap between average consumers and complicated technology by giving people a cost-effective way to learn how to use the printers. Many of the cafes offer instruction for beginners or tools to help them understand the process. See more from Benzinga Overstock Loses Big On Bitcoin The Cost Of A 'Rocky Mountain High' Is Getting Lower Greece's Final Proposal Draws Criticism From Syriza © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Wednesday, July 1: The "Fast Money" traders delivered their final trades for June.
Pete Najarian was a buyer of GILD(NASDAQ: GILD).
Brian Kelly was a buyer of SPY(Singapore Exchange: SPY-SG)puts.
Karen Finerman was a buyer of KORS(NYSE: KORS).
Guy Adami was a buyer of KITE(NASDAQ: KITE).
Trader disclosure: On June 30, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, TACO, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DRI, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, SPY puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE, he is long calls AAPL, ABX, BAC, BBY, C, DAL, ETFC, FCAU, GS, HYS, INVN, JPM, LULU, NUAN, OC, PNR, S, SPY, SXC, SYY, UAL, UBS, USB, VOYA, VZ, WYNN, XLF, ZIOP. Today he bought SPY calls and WYNN calls. Today he sold DE calls. Brian Kelly is long BBRY, BTC=; TAN, TSL; he is short Euro, Yuan, and Yen. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
SunTrust Robinson Humphrey Managing Dir. & Analyst Robert Peck: An affiliate of SunTrust Robinson Humphrey, Inc. has received compensation for products or services other than investment banking services from the following company within the last 12 months: TWTR-US.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Bitcoin startups lure quant whizzes from Wall Street: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Armed with a doctorate in financial engineering, 34-year-old Timo Schlaefer was on his way to a promising career at Goldman Sachs in London. Previously with the bank's mergers and acquisitions team, he became an executive director of credit quantitative modeling at Goldman, where quants like Schlaefer are highly valued.
In February he gave that up, and launched a company called Crypto Facilities Ltd, a bitcoin derivatives trading platform, which now has six employees. For now, the platform trades bitcoin forwards, which are directly linked to the price of bitcoin, but it's also developing other digital currency derivative products.
"This is uncharted territory," said Schlaefer. "It's an exciting opportunity to participate in a new area of technology that has massive potential."
Bitcoin is a virtual or online currency created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded in an online exchange, or used to buy goods and services.
Once the province of small-time investors driven by their distrust of government-backed currencies, now Wall Street bankers and traders are leaving high-paying jobs to join bitcoin start-ups, while big firms hire in-house to get their arms around bitcoin and the related 'blockchain' technology.
"A lot of people are entering the bitcoin space as the sector has reached an overall level of funding that's hard to ignore," said Jaron Lukasiewicz, founder and chief executive officer at New York-based bitcoin exchange Coinsetter. Lukasiewicz, 29, moved to the bitcoin world in late 2012, having left behind a six-figure salary in private equity at The CapStreet Group in New York.
Bitcoin is not backed by a government and its value fluctuates. On Thursday, it was trading at $278 <BTC=BTSP>, making the value of outstanding bitcoin worth about $4 billion. It has had a volatile history, with a rapid rally in 2013 that boosted its value to more than $1,150 per bitcoin at one point.
Right now, Crypto Facilities' Schlaefer probably won't make anywhere near the kind of money that he would potentially earn at Goldman. But it's less about the compensation for Schlaefer and more about being part of the growth in bitcoin and its underlying technology, the blockchain.
The blockchain - a ledger or list of all of a digital currency's transactions - is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Software engineers have started developing multiple applications for the blockchain, including a land title record system in Honduras to the clearing of trades in financial markets.
Meanwhile, Wall Street firms are doing their own hiring in the cryptocurrency realm. In June, online bitcoin job ads surged to a record high of 306, according to data from Wanted Analytics, with demand coming from banks such as Capital One and tech companies such as Intel and Amazon. In previous months, Citigroup and TD Canada Trust posted bitcoin job ads as well.
RISKY BUSINESS
For 31-year-old Paul Chou, founder and chief executive officer of Ledger X, an institutional trading and clearing platform for bitcoin options, moving into the digital currency space represents what he hopes results in lucrative profits down the road. But there are other reasons for his shift.
LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to trade and clear options on bitcoin. Chou said the firm hopes to operate the first regulated exchange and clearinghouse to list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.
"I took a very large salary pay cut to do this, in return for equity in a start-up that can be worth a lot someday," Chou said.
Before LedgerX, Chou worked at Goldman Sachs in New York as a quant equity trader after graduating from the Massachusetts Institute of Technology with degrees in computer science and mathematics. Chou said his hours are much longer as an entrepreneur - he's constantly refining ideas for strategy and thinking which areas to focus on.
"The domain expertise, relationships, and career equity I've built are things I never could have done while at Goldman," Chou said. "As a former trader, I'm glad I made this trade-off at the stage of my career that I did."
It's a risky move, however. There are already several tales of bitcoin company failures and mismanagement.
U.S. bitcoin marketplace Buttercoin, for instance, shuttered its operations in April this year despite raising $1.3 million in funding. Bitcoin exchange MyCoin closed its doors in February of 2015, leaving about 3,000 investors out of pocket.
Tokyo-based Mt. Gox, once one of the most dominant bitcoin exchanges, closed its doors without warning in February last year, filing for bankruptcy and leaving investors approximately $500 million in the red.
BITCOIN INVESTMENTS, HIRING
Total investments in bitcoin companies for the first half of 2015 - totaling $375.4 million - have already exceeded 2014's total of $339.4 million, data from CB Insights showed. Last year's venture capital funding of bitcoin start-ups grew roughly 280 percent from 2013.
The number of bitcoin start-ups has increased by more than 80 percent from last year. As of end-July, there were 814 start-up digital currency companies, up from 444 a year earlier, according to Angel List, an online marketplace for start-ups seeking to raise money from angel investors.
As banks defer compensation and add more clawback provisions that give them the right to limit bonuses, traders are seeing better risk opportunities elsewhere, said San Francisco-based Rick Henri Chan, chief operating officer at Airbitz, a digital wallet platform.
Chan, 47, who joined the bitcoin industry three years ago, worked for Deutsche Bank as head of its over-the-counter derivatives technology in Japan, and was a trader at UBS and Morgan Stanley.
He works long hours at Airbitz, doing everything from strategy to raising money, but the work environment is more flexible. At Deutsche, Chan had a multi-million dollar package, and he admits to missing that paycheck.
"But we're doing something special here at Airbitz. And I do think our company will be valued at a lot more in the future," he said.
(Reporting by Gertrude Chavez-Dreyfuss, editing by David Gaffen and John Pickering) || Louis C.K. Embraces Bitcoin: Comedian Louis C.K. has joined the fast-expanding number of merchants who now accept bitcoin as a payment method by making it possible for fans to download his comedy shows and pay using the cryptocurrency. His decision toincorporate bitcoinon his website underscored the digital currency's growing presence in the entertainment industry, which many believe will ultimately help lead to mainstream adoption.
Bitcoin Integration
On Louis C.K.'s website, fans can download the comedian's albums and recordings and pay anywhere between $1 and $85. In order to give his supporters another way to pay, Louis C.K. partnered with payment processor BitPay to allow bitcoin supporters to use their mobile wallets. The new option is also beneficial to Louis C.K. who is able to avoid the high transaction fees charged by other processors likePayPal Holdings Inc(NASDAQ:PYPL).
Related Link:Could Mike Tyson Become The New Face For Bitcoin?
Positive Reception
So far, his decision to incorporate bitcoin has received a positive reaction from fans. It appears that some of Louis C.K.'s supporters are a part of the bitcoin community, and have already begun using the new payment option to purchase the comedian's recordings.
A Boost
This is not the first time that bitcoin has been a hot topic in the entertainment space. Earlier this summer a new film called "Dope" announced that movie goers could purchase their tickets using the cryptocurrency. The film also incorporated bitcoin into its plot, giving digital currencies more exposure.
Many believe that the adoption of bitcoin in the entertainment industry is essential to the cryptocurrency's mainstream adoption. Not only will it bring attention to the currency, but it may help to undo some of the negative publicity that bitcoin has received in past years after hacking attacks and scams made it out to be a tool for criminals.
Image credit:Chairman of the Joint Chiefs of Staff, Flickr
See more from Benzinga
• Is Medical Marijuana Effective?
• What's Happening To Media Stocks?
• Japan Says Bitcoin Can't Be Owned
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fed Stuck In The Middle Of Marijuana Debate: One of the major issues plaguing the United States' newly developing marijuana industry has been banking. Although President Barack Obama has granted states the right to determine their own marijuana laws, the substance is still classed as illegal in the federal government's eyes. For that reason, banks bound by federal law have been unable to engage with marijuana firms even in states where the drug is legal.
Fed Lawsuit
Last week, Colorado's Fourth Corner Credit Unionsuedthe Kansas City Fed after its application for federal insurance was rejected. The credit union was denied a routing number in order to set up its master account, meaning that Fourth Corner would be unable to operate. The firm said the Fed's decision to reject Fourth Corner is an unreasonable restraint of trade and commerce and that the credit union's receipt of a state charter should have given it access to federal insurance.
Fed Pushes Back
The Fed has argued that it has the right to use its own discretion when it comes to opening new master accounts. The bank claims it was unable to accurately asses the risks associated with Fourth Corner's business and therefore is allowed to reject the application.
Conflicting Laws
The legal battle underscored the pitfalls of conflicting laws at the federal and state level. While legalization efforts have been successful in many states across the US, the banking issue will likely continue to plague the industry as long as federal law continues to class marijuana as illegal.
See more from Benzinga
• Australian Government Takes Steps Toward Becoming A Bitcoin-Friendly Nation
• Tech Firms Gear Up For 2016 Presidential Race
• Are Tethered Drones The Answer To Safety Concerns?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Washington D.C. Celebrates Marijuana Legalization With Growing Competition: Five months ago, Washington D.C. relaxed its regulations governing the recreational use of marijuana despite arguments from the nation's lawmakers. The district has since held several events to take advantage of the new rules and this year's state fare is evenincorporating potinto the festivities.
Growing Contest
A state fair conjures up images of homemade apple pies and prize-winning livestock, but in Washington D.C., the event will also include a marijuana growing competition. Fair organizers will give out a "Best Bud" award for the best specimen of a marijuana plant. The contest will run alongside other D.C. favorites like the knit and crochet contest, the pickled food contest and the homebrew contest.
Related Link:Surprising Study Shows Lax Marijuana Laws May Benefit America's Youth
Embracing Marijuana Rules
The fair, set to take place in September, says its inclusion of a marijuana growing competition is an important step toward embracing the district's new laws. Not only will the contest underscore D.C.'s new freedom, but it will give home-growers a chance to show off their talent for sustaining what can be a difficult to grow plant.
Judging
The plants will be judged rigorously in four categories including appearance, odor, touch and growing method. However, the plants will not be judged on their potency and judges will not sample any of the entries. D.C. law prohibits anyone from smoking in public spaces, and the fair is planning to uphold that law by banning marijuana use on the premises.
See more from Benzinga
• Bitcoin Makes A Musical Debut
• Starbucks Hopes To Blend In With The Locals
• Hacking Concerns Give New Life To Cybersecurity Field
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cable & Wireless Obtains TV Licence in Anguilla: MIAMI, FL--(Marketwired - Jul 10, 2015) - Cable and Wireless Communications (C&W) which now operates Flow, the Caribbean's leading communications service provider, today announced that it has secured the broadcast licence to operate TV service in Anguilla.
John Reid, President, C&W's Consumer Group said, "This is welcome news for our customers in Anguilla. Our successful merger with Columbus International Inc has facilitated the acceleration of our expanded portfolio from triple play to market leading quad play services."
Reid also said, "We are delighted to have the opportunity to introduce the most advanced digital TV technology available today to the people of Anguilla. Our Advanced Video Service (AVS) provides state-of-the-art High Definition TV, Personal Cloud Video Recorder, parental control and allows viewers to watch TV on the go with the Flow To-Go app."
According to the Consumer Group President, "The planned launch of this advanced video service in Anguilla will provide our viewers with the region's best TV experience and is set to transform the way people watch TV. It will be TV on demand, whenever, wherever and how the viewer wishes. Our ambition is to be number one with customers, and delivering world-class customer experiences is what we are all about."
Dubbed, "TV you can control," Advanced Video Services is an extraordinary High Definition visual experience with over 60 HD channels available at no extra cost.
AVS allows customers to:
• Restart TV programmes from the beginning
• Record all their favourite shows using the new Cloud Video recorder feature
• Watch new blockbuster movies from the comfort of their homes with our Video OnDemand service
• Monitor content via Advanced Parental controls
• Access TV on the go through our Flow ToGo smartphone application
Commenting on the approval of the TV licence and soon to be announced launch of TV services, Anguilla Country Manager, Matthieu Dion said, "Anguillans will benefit from the best content, service features and the most flexible options -- all accessible at home or on the go. All this is just a taste of the many innovations to come. We will deliver Anguilla's best TV service across the most advanced network, ensuring our customers experience the great services they so richly deserve."
C&W will commence delivery of TV service in Anguilla by the end of the year.
In 2014, C&W embarked on a US$7.4M network upgrade investment programme for Anguilla, as part of a wider regional investment strategy, called Project Marlin.
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m ; TV 430k and Broadband 650k ) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:http://www.cwc.com
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 254.71€ $BTCEUR $btc #bitcoin 2015-08-02 17:00:04 CEST || Current price: 276.4$ $BTCUSD $btc #bitcoin 2015-08-08 08:00:04 EDT || Current Prices
$255.805 #btce
$258.00 #bitstamp
Mine BTC now http://goo.gl/yUU4Pf
#btc #bitcoin #bitcoinchase #cryptocurrency || Bitcoin traded at $273.31 USD on BTC-e at 11:00 PM Pacific Time || Current price: 234.71€ $BTCEUR $btc #bitcoin 2015-07-01 10:00:04 CEST || bitcoin rate-2015-07-22 PDT start_rate:$278.00 current_rate:$278.50(0.18%) #btc_q @MoneysEdge http://www.moneysedge.com/bitcoin || Current price: 178.24£ $BTCGBP $btc #bitcoin 2015-07-20 12:00:08 BST || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $231.88 #bitcoin #btc || LIVE: Profit = $732.11 (1.04 %). BUY B252.33 @ $278.00 (#BTCe). SELL @ $279.95 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || I attacked Robot-lvl 00, and I've earned a total of 1,470,278 free satoshis! http://www.robotcoingame.com/?id=1H3uBHVXtUDCtEUTdtQWK2e6vErKJmWvR1 … #robotcoingame #Bitcoin #FreeBitcoin
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Trend: up || Prices: 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-03-07]
BTC Price: 1223.54, BTC RSI: 64.42
Gold Price: 1215.10, Gold RSI: 42.80
Oil Price: 53.14, Oil RSI: 48.98
[Random Sample of News (last 60 days)]
Bitcoin slides after China central bank launches investigation: LONDON (Reuters) - The price of digital currency bitcoin slid around $50 on Wednesday after China's central bank said it had launched spot investigations on bitcoin exchanges in Beijing and Shanghai in order to fend off market risks.
The investigation of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into possible market manipulation, money laundering, unauthorized financing and other issues, according to the statements posted on the People's Bank of China's website.
Bitcoin fell from around $909 on the Europe-based Bitstamp exchange to the day's low of $861, leaving it down almost 5 percent (BTC=BTSP).
(Reporting by Jemima Kelly; Editing by Patrick Graham) || First Bitcoin Capital Adds Innovative Automated Check Cashing ATM Solution for Cannabis Dispensaries’ Clientele: VANCOUVER, BC / ACCESSWIRE / January 12, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF), a leading bitcoin and cryptocurrency developer, specializing in both blockchain and online merchant payment solutions for medical marijuana dispensaries and other high-risk merchant accounts and services, today announced the signing of an Exclusive Master Distributor Agreement to distribute a new type of fully automated check cashing ATM designed for use in medical cannabis dispensaries for the State of California. BITCF will add this check cashing ATM service to complete a full suite of financial services for the medical marijuana industry: merchant processing and POS solutions through its alliance network, a fully compliant, user friendly solution to accept Credit and Debit Cards through traditional Merchant Card Processing networks. The check cashing ATMs marketing efforts will be focused toward larger established medical marijuana dispensaries.
Fees for the check cashing services will be competitive. Dispensary customers using the service will be able to cash all types of checks: government issued checks, payroll checks and other types. Cannabis dispensaries service all kinds of customers. Many of those are unbanked and may need to cash checks before purchasing. Offering check cashing services on premises to this group of customers will be a very attractive way to increase revenues, as dispensary owners are looking for new ways to draw more customers because of check cashing convenience.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9.0 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, our ATM Division expects that dispensaries will increase their customer base by 18%.
BITCF uses sophisticated fully automated risk analysis algorithms and underwriting procedures, resulting in 100% guarantee to the dispensary owners.
Summary of benefits of our services for the cannabis dispensaries and their customers:
Any types of checks can be cashed, including Payroll checks, Insurance checks, Personal checks, business checks, money orders, government issued checks and the funds can be credited to the Dispensaries bank account instead of their client pulling out and paying in cash.
Regulatory Compliance: The check cashing ATM will be installed pre-programmed to comply with all state, local federal regulations in California.
First Bitcoin is also developing a system that will enable dispensaries to accept Bitcoin and other cryptocurrencies as a form of legal payment. Stater of California has already enacted legislation that makes Bitcoin and similar digital currencies legal tender.
BITCF has developed specific programs to meet the unique needs of the medical cannabis industry. Offering merchant services at competitive rates for businesses operating legally under state law of California and Oregon, the company can now provide financial services not typically available from conventional banks.
While legalization of marijuana in many forms – and in many states – garnered over $5 billion dollars in 2016, the sums are expected to grow for 2017. More innovative and unique products are being created, and the stigma that once surrounded cannabis is slowly fading. These changes are helping the medical cannabis industry to prosper now that federal policies allow dispensaries to sell, grow, or possess cannabis while compliant with state laws. BITCF will only provide these services where federal policies allow our business model to proceed for dispensaries that are fully compliant with state and country laws, rules and regulations.
Should your dispensary be interested in these services please contact us by email:[email protected]
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, financial processing services and the digital currency exchange-www.CoinQX.com.We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital and blockchain technologies. At this time the Company owns and operates the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comFinancial and merchant services for medical cannabis dispensaries.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:[email protected] visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission.
"There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program.
Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF.
If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.
On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent.
Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority.
Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added.
To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year.
SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year.
Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins.
Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency.
Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply.
He sees the bitcoin price possibly rising to $2,288 by the end of the year.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent. Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added. To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply. He sees the bitcoin price possibly rising to $2,288 by the end of the year. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) View comments || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent. Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added. To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply. He sees the bitcoin price possibly rising to $2,288 by the end of the year. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) View comments || Bitcoin hits all-time high as talk of U.S. ETF approval intensifies: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent. Bitcoin is a virtual currency that can be used to move money around the world quickly and anonymously without the need for a central authority. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey, said the approval of the Winklevoss ETF would be a big boost to the market. "It should add a fair amount of liquidity to the bitcoin market," added. To date, there are two other bitcoin ETF applications with the SEC. Grayscale's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed its application with the SEC in March last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application in July of last year. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Story continues Analysts said the groundwork for bitcoin gains was laid in July last year in a process called "halving," where rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Dan Morehead, chief executive officer at hedge fund Pantera Capital, said in his recent letter to investors that the bitcoin price moves in line with the currency's use in transactions and both have risen sharply. He sees the bitcoin price possibly rising to $2,288 by the end of the year. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sandra Maler) || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin had become an attractive, if niche, option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || The biggest bitcoin news site bought the best bitcoin data app: It was one year ago thatDigital Currency Group, the leading investment firm in digital currency startups, bought CoinDesk, the leading trade publication that covers digital currency news. Now CoinDesk is making its own acquisition, its first ever: CoinDesk has bought Lawnmower, for an undisclosed price.
Lawnmower first launched in 2015 as a roundup app (apopular format these days for finance-related apps) for buying bitcoin. You would connect the app to a credit card, and it would round up the spare change on your transactions and use it to buy bitcoin. The purchases were made through a plug-in toCoinbase, the No. 1 US bitcoin wallet.
Last summer, Lawnmower shifted its buying model, ditching the roundup structure and instead allowing users to buy bitcoin any time they wish, and to have the app make a monthly purchase of a pre-set amount. “We viewed the spare change roundups as more of a limitation,” said cofounder and CFO Alex Sunnarborg at the time. “If you want a serious investment platform, spare change is going to be inherently low-volume.”
But the real value of Lawnmower was its data.
As the app evolved, its bitcoin price chart got better and better for users: visually clean, easy to adjust, updating in real time. (In my opinion, as a reporter who has covered bitcoin and blockchain since 2011, Lawnmower is the best mobile app for price data, while CoinDesk has the best desktop price charts.) Along the way, Lawnmower added price charts and data for additional digital currencies Ethereum, Ripple, and Litecoin. It also created its own Lawnmower Blockchain Index, a fund with different digital currencies, weighted by market cap. Tracking the performance of Lawnmower’s index provided a useful gauge of how these assets were performing overall.
Lawnmower’s data (on each coin’s price fluctuation, market cap, total supply, and trading volume) is why CoinDesk came calling. CoinDesk will roll Lawnmower’s data into its own desktop site and mobile app, and into its paid research reports, a business it is looking to expand. “Pretty much everything CoinDesk is doing is right in our skill set,” says Sunnarborg. (Lawnmower had even added news headlines to its app, so a sale to a news outlet makes some sense.)Lawnmower cofounders Pieter Gorsira and Patrick Archambeau will lead CoinDesk’s engineering team, while Sunnarborg will join CoinDesk’s research team as an analyst.
“While we were excited about Lawnmower’s buy/sell functionality and the traction they had made, we were much more intrigued by the data and market research elements,” says Ryan Selkis, who moved over from DCG to run CoinDesk’s business after DCG acquired it last year. DCG, led byBarry Silbert (who founded SecondMarket in 2004 and sold it to Nasdaq in 2015), has invested in 80 digital currency startups.
Lawnmower’s app will shut down soon, and CoinDesk will take the data elements, butnotthe bitcoin-buying functionality—specifically to avoid any ethical conflicts. “Since we did ultimately see a conflict with owning an app that facilitated the purchase of digital currencies, buy/sell functionality will not be included in the new CoinDesk app,” says Selkis.
Indeed, it would raise ethical red flags if a web site objectively covering bitcoin companies also offered users the ability to buy bitcoin. CoinDesk being owned by a bitcoin startup investment firm also might raise similar alarms, but at the time of purchase, DCG vowed to assemble strict walls between the CoinDesk editorial team and the CoinDesk business side. At the CoinDesk office, there is aliteral wall between the editorial team and the business team.
“I think the divide with the new research department will be about figuring out where the research product makes sense,” says Sunnarborg, “and what the wall is between a long editorial feature piece, versus a paid research piece. It’s exciting stuff but definitely there’s a divide we will navigate.”
Selkis says that while the CoinDesk editorial team will remain strictly separate from the business side, “There may be some overlap with the product and research teams, none of which we view as detrimental to our [editorial] team given the removal of buy/sell functionality.”
Customers with bitcoin balances in Lawnmower will not need to transfer funds over, since all Lawnmower accounts exist through Coinbase accounts.
The bitcoin industry has seen a fair amount of consolidation in the past two years, especially among bitcoin exchange sites and particularly among non-US companies. To name a few: last year Kraken, which is US-based but does most of its trading volume in euros,bought New York-based exchange Coinsetter, afterCoinsetter had previously bought Canadian exchange Cavirtex. Kraken alsobought Dutch exchange CleverCoin. In 2015, Mexican exchangeBitso bought Mexican exchange Unisend.
Lawnmower had raised $200,000 in funding from firms including Draper Associates and Boost VC; it won’t share how many users it had amassed, but Sunnarborg says that once it shifted its bitcoin-buying model to automatic trading in a set amount,80% of users chose the automatic trades. “What that says to me is this market moves so fast, a lot of people want a passive strategy so that they can just sit back and they don’t have to pay such close attention to the ups and downs each week. It’s a responsible strategy.”
In addition, once Lawnmower added price data for additional coins like Ripple and Litecoin, users took to them frequently. That has a lesson for bitcoin media like CoinDesk: “I think everyone is realizing they can’t just cover bitcoin and blockchain, they also need to cover Ethereum, Ripple, and so on. It’s proof that this is an interesting asset class.”
—
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
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Coinbase is more bullish on bitcoin than ever || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin had become an attractive, if niche, option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || Chinese bitcoin exchanges say to strengthen scrutiny of customers: By Brenda Goh SHANGHAI (Reuters) - China's three largest bitcoin exchanges said on Thursday they will strengthen oversight of customers' identities and sources of funds, in the latest shift since the Chinese central bank stepped up its scrutiny of the industry. BTCC, OkCoin and Huobi said in identical statements on their websites that they wanted to curb market speculation and prevent activities such as currency exchange through bitcoin, which they warned was not issued by monetary authorities and carried high risk. Their move comes after China's central bank said it called nine of the country's smaller bitcoin exchanges in to a Wednesday meeting to discuss risks in the bitcoin market, and warned them that they risked closure if they seriously violated regulations or took part in activities such as margin lending. The price of bitcoin on European bitcoin exchange Bitstamp fell by as much as 9 percent on Thursday from the previous day, trading at $960. Beijing signaled that it was keeping a closer eye on the bitcoin industry last month by launching checks into BTCC, Huobi and OkCoin, amid growing government efforts to stem capital outflows and relieve pressure on China's currency, the yuan. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.] That, and the relative anonymity the digital currency offers, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. BTCC, Huobi and OkCoin last month stopped margin lending and introduced trading fees after the PBOC launched checks into them. In their Thursday statements, they also said they may freeze assets or limit trading by users who were found to flout the rules. Their statements also contained links to documents published by China's banking regulator that warned investors about market risks. Story continues News of meetings between the various exchanges and the People's Bank of China (PBoC), and other government agencies has caused the bitcoin price to swing wildly. On Wednesday, the price fell from a one-month high after sources at bitcoin exchanges in China said the PBoC had summoned some exchanges to a closed-door meeting, before recovering all of those losses in U.S. and European time. The PBOC said the nine exchanges involved in the Wednesday meeting were CHBTC, BtcTrade, HaoBTC, Yunbi, Yuanbao, BTC100, Jubi, BitBays and Dahonghuo. Industry insiders said the majority of these exchanges allowed other cryptocurrencies to be traded on their platforms besides bitcoin. BtcTrade, Bitbays and BTC100 declined to comment on the meeting. Reuters was unable to immediately reach the other six platforms for comment. Charles Hayter, CEO of London-based digital currency analytics firm Cryptocompare said the Chinese actions would ultimately be good for the industry. "The PBoC moves to regulate Bitcoin more stringently will bring short-term woes but will ultimately strengthen the ecosystem," he said in a statement emailed to Reuters. According to Hayter's analysis, trading between the Chinese yuan and bitcoin has fallen to around 26 percent of the bitcoin-fiat currency market from 98 percent at the start of the year. (Reporting by Brenda Goh; Additional Reporting by John Ruwitch and SHANGHAI Newsroom; Editing by Sam Holmes and Adrian Croft)
[Random Sample of Social Media Buzz (last 60 days)]
OMG! THIS IS ON FIRE! #bitcoin - Multiple Streams of Income on Total Autopilot http://bit.ly/2ljYKH6 || Bitcoin Price Analysis: BTC/CNY Remains Supported http://bitcoinadvice.org/2017/02/17/bitcoin-price-analysis-btccny-remains-supported-2/ …pic.twitter.com/8vxe960mIc || #bitcoin #btceur = 1100.00 !!!! pic.twitter.com/HTV3g0oWqN || One Bitcoin now worth $766.18@bitstamp. High $918.40. Low $755.00. Market Cap $12.333 Billion #bitcoin pic.twitter.com/3h9TTYfsC4 || Blockchain, Bitcoin, digitale penger på agendaen på #hackcon2017. Et tankevekkende foredrag om usikkerhet og bekymring vedrørende Blockchain || $1059.62 at 22:45 UTC [24h Range: $1030.02 - $1064.99 Volume: 6202 BTC] || Currency War. China’s U.S. Debt Holdings Drop by MOostOn Record. http://ift.tt/2lNBZ2m #bitcoin #blockchain #cryptos #reddit || Bitcoin
segwit: 217 of 904 blocks signalling
period: 24.00%
last 144 blocks: 22.92% (-)
activation prospects: no || ルールを破れない奴に処女膜が破れるか || #TrollCoin #TROLL $0.000122 (11.01%) 0.00000012 BTC (9.42%)
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Trend: down || Prices: 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin price holds steady ahead of planned US crypto bill: Bitcoin (BTC-USD) is holding above $29,000 indicating that bulls are scooping up what they hope are bargains at lower levels.
The price ofbitcoinwas $29,377 and ethereum (ETH-USD) dipped below the $2,000 mark to $1,982 on Tuesday.
Read more:Crypto live prices
The crypto market has yet to follow the lead of US equities markets which rallied on Monday.
The Nasdaq (^IXIC)rose 1.6% during an early week rebound after tech-stocks had endured a seven-week decline in value.
Analysts expect bitcoin to correlate and rise with the Nasdaq, but the world's preeminent cryptocurrency has yet to go green.
Instead, bitcoin, and major altcoins such as ethereum, dropped in value with bitcoin and ethereum down 4% and 4.1% respectively in the past 24 hours.
Amid the fall-out from the Terra/Luna (LUNA1-USD)stablecoin crisis, bitcoin has become a relatively stable store of value for crypto-investors to park their wealth and ride out the current bear market, according to analysts.
Read more: Crypto:Stablecoin storm spreads after billions of tether is cashed out
The use of bitcoin as a store of cryptocurrency value amid the 'stablecoin storm' has resulted in an increase of the ratio between its market cap and the rest of the cryptocurrency market.
Bitcoin's market cap dominance has increased to a seven-month high of over 44% even as its price has decreased below $30,000.
There have been some worrying signs for bitcoin trade volume which is at a nine-month low, revealing reduced participation from traders.
Traders could be hodling for that much-anticipated breakout that could smash the ice of the current crypto-winter.
One piece of news that may materialise as a positive step for the cryptocurrency sector is US senator Cynthia Lummis' planned crypto bill.
The bill is trying to bring order to the cryptocurrency ecosystem, and categorise the multitude of protocols, currencies and assets.
Lummis described the bill as adapting the legal framework so that cryptocurrencies and traditional assets fall under similar regulatory categories.
She said: “We’ve designed it so it works within the customary framework for managing and regulating traditional assets.
Read more:Bitcoin drops 50% from November peak
"So, for example, bitcoin is a commodity.
"So it would fall under the Commodity Futures Trading Commission for purposes of trading and the spot market and the futures market.
"And then when something fits in the Howey Test, that makes it a security, it would fall under the Securities Exchange Commission.”
Last week, Gary Gensler, chairperson of the US Securities and Exchange Commission, hinted at a similar categorisation for bitcoin.
He told the US House Appropriations Committee last that the Securities Exchange Commission has “jurisdiction over probably a vast number” of cryptocurrencies currently in circulation.
But that, "bitcoin — maybe that’s a commodity token".
Referring to bitcoin he then said, "that goes over there", to another regulator, the Commodity Futures Trading Commission, or CFTC. || Swan Bitcoin CEO Calls Celsius Withdrawal Freeze ‘So Opaque’: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Swan Bitcoin CEO Cory Klippsten has a problem with Celsius.
He believes the crypto lending platform, which sparked his interest following the collapse of the terraUSD luna (UST) stablecoin, has not been forthcoming about its vulnerabilities and misled investors.
“It’s so opaque what’s going on in Celsius,” Klippsten said on CoinDesk TV’s “First Mover” program Tuesday, a day after Celsius’sannouncementthat it would freeze withdrawals due to “extreme market conditions.”
Celsius’s problems have led to widespread fears about crypto’s future and contributed to the four-day free fall in prices to two-year lows.
Read more:Crypto Lending Service Celsius Pauses Withdrawals, Citing 'Extreme Market Conditions'
Klippsten said Celsius first sparked his interest last May, and that his concerns about its model and what he considers false promises have increased.
By Friday, May 13, days after the news of Terra’s fall, Celsiusannouncedthat it had pulled half a billion dollars worth of user funds from Terra’s Anchor Protocol, news that rippled throughout the cryptocurrency industry.
"That was really stunning to hear,” Klippsten said. “That a professional risk management team had even bothered to be playing with an obvious Ponzi scheme like luna and furthermore, to be pulling it out a day before the collapse."
This isn’t Celsius’s first encounter with controversy. In December of last year, itlostnearly $55 million dollars, or about 896 of wrapped bitcoin (wBTC), after BadgerDAO, a decentralized autonomous organization, was hacked for upwards of $120 million.
Klippsten adds that Celsius kept parking user funds in obscure no-name decentralized finance (DeFi) protocols, which are risky and not good at operations. “It’s a big, big, big red flag.”
In April, Celsiusbannednew transfers by non-accredited investors on its U.S. platform, limiting who could add new assets and earn rewards. Nearly five months prior, the crypto lending firm had toreplace its former chief financial officer, Yaron Shalem, after Shalem was arrested “for committing fraudulent offenses in the field of cryptocurrencies.”
Celsius’ marketing has been misleading , Klippsten added. “They make it sound like a better bank, and they make it sound like a high yield savings account,” he said.
The peer-to-peer platform is intended to facilitate crypto lending, and attracts users by returning 80% of its revenue to users inrewards, while the firm used the remaining 20% to fund the project’s expansion.
Celsius users are more likely to be unsecured lenders, Klippsten notes. “You're an unsecured creditor, and they can do whatever they want with your coins out the back end, essentially trading it like a hedge fund. You don't have any rights to your coins,” he said.
Read more:Nexo Proposes Celsius Buyout as Rival Lending Platform Halts Withdrawals
Yet, Klippsten said that crypto lending models are not inherently troubled. For those who must seek yield, “there’s definitely going to be a spectrum, and there will be some that are much more transparent,” he said, adding that those better managed platforms are likely to have “much stronger risk management, and frankly, lower yields on offer. You have to make that choice for yourself.”
Celsius’s freeze on withdrawals and transfers, and earlier terraUSD debacle could be a wake-up call, allowing investors to see the fallacy of a risk-free, high-yield product.
Celsius’s CEL token was recently trading at about 64 cents, according to CoinMarketCapdata, placing the firm’s market capitalization just above $161 million. || Bitcoin, Ether Hover Above Support Amid China Optimism, US Futures Bump Up: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) held above the $30,000 level as indexes in Asian, Indian, European and U.S. markets turned green on Tuesday, data showed.
Traderspriced in expectations of a relaxationof rules in Shanghai after weeks of strict lockdowns, leading to a jump in Chinese stocks. Policymakers in Beijing are taking steps to alleviate the economic slowdown withvarious movesin the past week.
Optimism around China helped create positive sentiment in the broader Asian market, as Hong Kong’s Hang Seng roseas much as 6%and India’s Sensex jumped 2.5%. Indexes in Japan and Shanghai added nearly half a percentage point each.
Elsewhere, Europe’s Stoxx 600 was up 1.5% in midday trading, S&P500 futures gained 1.5%, and the tech-heavy Nasdaq added 1.9%.
Lately correlated nearly 1:1 with broader equity markets , cryptocurrencies were ahead 3.2% after nearly a week of declines that saw bitcoin fall to as low as $24,000. At the time of this writing, the largest crypto was trading at $30,300. Ether (ETH) added 2.2% in the past 24 hours to trade above $2,000, with similar gains for Avalanche’sAVAX, BNB Chain’s BNB anddogecoin.
Polygon’s MATIC (MATIC) gained 5.5% as Polygon Studios CEO Ryan Wyattsaidthe firm was working with Terra projects affected by last week’s implosion and would connect them to Polygon’s broader DeFi (decentralized finance) network. Terra held billions of dollars in value on various DeFi applications, such as Anchor, before last week’s fall.
Crypto markets were weighed down in the past few weeks by waning sentiment for risky assets. The U.S. Federal Reserve said it would hike rates several times this year in an effort to tame inflation, which led to turbulence across broader markets.
Morgan Stanley’s wealth-management division warned against slowing economic growth in a note this week.
“The stock- and bond-market downturn has advanced to behavior resembling a classic cyclical bear market rather than simply a correction,” Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management, wrote in anoteon Monday. || Bitfarms Looks to Boost Liquidity With Sale of 1,500 Bitcoin, New Loan: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Crypto miner Bitfarms (BITF) raised $34 million with the sale of 1,500 bitcoin ( BTC ), applying those funds to trim a credit-backed facility from Galaxy Digital ( GLXY.TO ) to $66 million from $100 million. Alongside, the company entered a new $37 million equipment financing deal with NYDIG. In addition to lowering our interest expense, this $34 million reduction in borrowing gives us the ability to utilize more of our BTC holdings strategy as it frees up BTC that would otherwise be used to collateralize this credit facility, said Bitfarms CFO Jeff Lucas in a press release . The Galaxy facility was set to expire on June 30 and Bitfarms is now negotiating with Mike Novogratzs crypto merchant bank to renew the line, according to the statement. The sale of 1,500 bitcoin to raise $34 million with which to partially pay down the loan implies an average price of about $22,000 per coin. Bitfarms also agreed to an equipment financing deal with NYDIG for $37 million at a 12% interest rate. This loan is collateralized by the mining rigs at the companys Leger and Bunker facilities. Bitfarms moves come as crypto miners who levered up to fund speedy growth are feeling the squeeze of the crash in crypto markets. The company is also in talks with NYDIG for additional funding which if eventually agreed upon might come in July and October as construction continues at the miners Bunker facility. On February 25, Bitfarms closed a $32 million equipment financing loan with another lending firm, BlockFi, that carried a two-year term and interest rate of 14.5%. The shares of the miner are up about 4% on Friday alongside a 1% gain in bitcoin. The stocks lower by nearly 75% year-to-date. Read more: CleanSpark Takes Advantage of Bear Market to Acquire Mining Rig Contracts || Shanghai Data Breach Exposes Dangers of China’s Trove: (Bloomberg) -- Claims of the largest cyberattack in Chinese history have sparked an open debate about the extent to which Beijing hoovers up personal data and uses private firms to safeguard that trove, a discussion that could have ramifications for the broader technology industry in China.
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If verified, the purported theft of 23 terabytes of personal information on as many as a billion Chinese citizens from a Shanghai police database would rank as the country’ largest ever known data breach, if not one of the biggest leaks the world has seen. The allegations that emerged over the weekend have set tech circles buzzing and prompted rare public comment from high-profile industry figures such as Binance co-founder Zhao Changpeng.
Questions remain about how the unknown hackers apparently gained access to the trove run by the Ministry of Public Security’s Shanghai branch, which according to online posts included data detailing user activity from most popular Chinese apps, addresses, and phone numbers. A seller had asked for 10 Bitcoin, worth around $200,000, in exchange for the data.
Many forensic experts agreed there were significant security lapses. To researchers who have examined the underlying source code and database samples, the breadth of the purported data underscores not only the staggering scale of government data collection in the People’s Republic of China but also the numerous risks in how that information is managed.
“The PRC government is likely in crisis mode right now,” said Dakota Cary, a consultant with the Washington-based Krebs Stamos Group. “It seems obvious to ask why Shanghai MPS needed access to all this data, but this is the exact system of surveillance and detail about individuals that the government wants.”
Read more: Hackers Claim Theft of Police Info in China’s Largest Data Leak
Chinese President Xi Jinping has long identified data as key for governing and driving the country of 1.4 billion. Beijing is pouring money into digital infrastructure, rolling out new laws and building data centers to position China as a leader in the digital economy. The Shanghai breach may become an embarrassment for Xi as he tries to secure a precedent-breaking third term as president later this year.
“It is necessary to safeguard the country’s data security, protect personal information and business secrets, and promote the efficient circulation and use of data so as to empower the real economy,” Xi stressed in a meeting with a top government body less than two weeks ago, according to a readout from the official Xinhua News Agency.
China has pioneered new forms of near-constant surveillance and mass data collection on its citizens, a nationwide apparatus that has expanded as Beijing tries to track and prevent the spread of virus cases as part of its Covid Zero strategy. A Bloomberg News analysis of a sample published by the alleged hackers reveals information from names, mobile numbers and addresses to education levels, ethnicity -- even logs of express deliveries and information from police reports and criminal cases.
Yet official agencies have remained noticeably silent this week even as the debate gained momentum online. Chinese state media have yet to report on the incident. Many -- but not all -- posts about the leak on Chinese social media have been removed. And the Shanghai authorities have so far not publicly responded.
Representatives for the city’s police and Cyberspace Administration of China, the country’s internet overseer, also haven’t responded to faxed requests for comment. A Foreign Ministry spokesman said only that he was not aware of the report Monday, in an exchange that was left off the official transcript for the agency’s daily briefing.
“There’s no doubt among Chinese citizens that the government does collect their data, but the loss of it to criminals is embarrassing for the government,” Cary added.
That silence has given rise to a number of theories on how the breach took place. Some security researchers who spoke with Bloomberg News said the incident may have occurred after a developer accidentally posted access database keys online, a lapse that wouldn’t seem to fully explain apparent access to an internal police network.
Others argued it’s more likely a cloud service provider, which hosted backups or synchronization for the police database, was somehow compromised. Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Huawei Technologies Co. are among the country’s biggest external cloud services. Representatives for the three firms didn’t have immediate comment on the episode.
If blame falls on a cloud provider for the breach, it could accelerate a migration by government agencies away from private services, now by far the largest and most popular internet computing platforms. State-backed cloud providers include smaller rivals like Inspur Ltd. or carriers such as China Telecom Corp.
“There are a lot of breaches all over the world,” said Shawn Chang, founder and CEO of Hong Kong-based security firm HardenedVault. “But the size of this data breach is more rare because China collects more data from public systems.”
Read more: Beijing Crackdown Derails Alibaba’s Bid for Amazon-Size Profit
Chinese officials and companies rarely disclose data breaches affecting domestic services, a lack of transparency that coincides with a new emphasis on cybersecurity from Beijing. Major leaks in the past have included personal information on dozens of Communist Party officials and industry leaders exposed on Twitter Inc. in 2016 and in 2020, when the Twitter-like service Weibo Corp. acknowledged hackers were claiming to sell account information on more than 538 million users.
It’s common to see personal data offered for sale on Chinese cybercriminal forums but the “scale and amount of personal data being offered here is unheard-of,” said Budi Arief, who researches cybercrime at the University of Kent’s Institute for Cyber Security for Society.
A growing demand for privacy among the public as well as concerns around the control of sensitive data for private tech giants have fueled stronger regulations, including China’s passing of a personal information protection law in 2021. Under that legislation, which encompasses data protection and requires storage within Chinese borders, state entities that fail in their duties to protect sensitive information could incur sanctions and vague corrective measures.
But the US and other nations have repeatedly identified China as one of the world’s biggest sources of cybercriminals, which they say infiltrate systems on behalf of domestic agencies in search of valuable data or intellectual property.
If the information exposed in the latest hack is genuine, hundreds of millions risk identity theft or access to their online accounts.
The extent of the fallout now depends on a number of factors, including who’s fingered for the lapse. The public security agencies, which would ordinarily be responsible for investigating and punishing the breach, may not escape blame, said Adam Segal, director of the digital and cyberspace policy program at the Council on Foreign Relations.
“The Party will likely discipline MPS and local officials internally, without drawing much public attention,” said Cary, of Krebs Stamos Group. “Alternatively, if the government does find that the breach was truly the fault of a private firm that maintained the database, that company will likely be fined or targeted by market regulators for costly inspections.”
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©2022 Bloomberg L.P. || 7 Seriously Undervalued Dow Stocks to Buy Before Wall Street Catches On: If the adage of selling in May and going away is true, then the market is in for a troubling summer. There is growing concern of an earnings recession. This is reminding investors about the importance of finding stocks that reward shareholders with regular dividend payments. With that in mind, this article is looking at undervalued Dow Stocks that investors can look at buying right now. Yes, I said right now. The companies on this list have a history of paying and growing their dividends. These dividends help to offset the volatility in the market and increase an investors total return over time. 7 Unstoppable Stocks to Own in 2022 With that said, its still important to ensure youre not overpaying for quality stocks. But finding undervalued stocks is a little tricky right now. But here are seven stocks that meet that criterion for one or more reasons. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Current Price WBA Walgreens Boots Alliance, Inc. $40.20 GS The Goldman Sachs Group, Inc. $282.54 TRV The Travelers Companies, Inc. $166.31 CSCO Cisco Systems, Inc. $42.91 MRK Merck & Co., Inc. $84.50 MMM 3M Company $135.25 CVX Chevron Corporation $167.55 Walgreens Boots Alliance (WBA) Walgreens (WBA) store exterior and sign in Pompano Beach, Florida Source: saaton / Shutterstock.com The first of the undervalued Dow stocks on my list is Walgreens Boots Alliance, Inc. (NASDAQ: WBA ). For investors who like to use price-to-earnings (P/E) ratio, Walgreens currently has a P/E ratio of 5.73 which is significantly lower than the sector average of more than 16x. Revenue looks to grow steadily over the next five years. However, investors may be a little concerned about the earnings outlook which is steady, but not spectacular. Time will tell if the companys strategy in investing in wellness centers within its stores will be the catalyst for that growth. Nonetheless, WBA stock is currently trading at the low end of its 52-week range. And analysts give WBA stock a 15.57% upside from its current price. And even if earnings growth is subdued, shareholders still get a dividend that pays a $1.91 per share annual dividend with a yield of 4.6%. Walgreens is also a dividend aristocrat having increased its dividend in each of the last 46 consecutive years. Story continues Goldman Sachs (GS) The Goldman Sachs (GS) logo is displayed on a smartphone in front of a multi-color background. Source: Volodymyr Plysiuk / Shutterstock.com Next on the list of undervalued Dow stocks is The Goldman Sachs Group, Inc. (NYSE: GS ). The investment bank has a P/E ratio of 5.57 which is about half the sector average. That sets the table for growth in an environment of rising interest rates. GS stock is down about 25% in 2022, and it may have further to fall. With companys adjusting their full-year profit forecasts, it may be wise to wait until the companys next earnings report to get a better sense of how the second half will go. However, institutional buying has outpaced selling slightly in each of the last two quarters, which could be a bullish signal. 7 Nasdaq Stocks to Buy and Hold Forever Although the companys dividend yield is below the sector average, it is paying out an impressive $8.00 per share annual dividend which is an attractive benefit to shareholders. Goldman also bought back $2 million of shares in its prior quarter. Travelers Companies (TRV) Red umbrella covering stacks of bills Source: Shutterstock A different alternative in the financial sector is to buy shares of one of the nations leading insurance companies. The Travelers Companies, Inc. (NYSE: TRV ) is a defensive stock because insurance is always a necessity and Travelers is capturing revenue from niche markets such as pet insurance. The company has been reporting year-over-year increases in both earnings and revenue. And that is reflected in the TRV stock price which is holding on to an 8% gain for the year while the broader market is much further down. Travelers has an attractive P/E ratio that is right around 10 and it has increased its dividend in each of the last 21 years. Currently, the company pays out $3.72 per share on an annual basis with a dividend yield of 2.2% that puts it on par with the S&P 500 index average. Cisco Systems (CSCO) Where and Why You Can Steal Cisco Stock Source: Valeriya Zankovych / Shutterstock.com Cisco Systems, Inc. (NASDAQ: CSCO ) was one of the first companies to reduce its guidance. After the company posted bottom line and top line numbers that fell below analysts expectations, the tech gear maker lowered its guidance for the current quarter. However, it believes that the supply chain issues that led to lower financials are easing. And when they do, the company expects to meet its full-year earnings per share guidance. Looking at the fundamentals, Cisco has a P/E ratio that is currently slightly below the sector average. And the companys balance sheet looks strong. In the last three years, the company has earned over $14.5 billion in free cash flow (FCF). 7 Unstoppable Stocks to Own in 2022 And regarding its dividend, Cisco has a 13-year streak of increasing its dividend. It currently pays out $1.52 per share on an annual basis. And the yield of 3.5% is above the sector average of approximately 2.7%. Its next payable on July 27 to shareholders of record on July 6. Merck & Co. (MRK) Merck (MRK) logo outside of corporate building Source: Atmosphere1 / Shutterstock.com As Covid-19 moves into an endemic stage, investor attention is shifting back to some undervalued pharmaceutical companies. Thats what makes Merck & Co., Inc. (NYSE: MRK ) an appealing option. The company expects revenue for its cancer drug Keytruda to remain strong. And the company has a robust pipeline in place to set up future growth. MRK stock is one of the few Dow stocks that is managing a gain for the year. As of this writing, its up 13% for the year and analysts believe that the stock has upside of approximately 5%. In addition to those gains, investors are getting a reliable dividend that has been increasing for the last 12 years. It currently offers shareholders an annual payout of $2.76 with a dividend yield of 3.17%. 3M Company (MMM) a photo of 3M protective masks Source: r.classen / Shutterstock.com In what is becoming a theme, 3M Company (NYSE: MMM ) recently lowered its revenue and earnings guidance for the current quarter. The company says it expects a $300 million decline in revenue and a corresponding earnings decline of 30 cents per share. The leading culprit is ongoing supply chain issues resulting from Covid-related lockdowns in China. That doesnt completely explain investor apathy for MMM stock, which is down 22.5% in 2022. That slowdown seems to be due to the company likely to post its second straight quarter of declining revenue and earnings. But 3M has a P/E ratio of 14.32 which may explain why the stock is drawing interest from institutional investors. 7 Nasdaq Stocks to Buy and Hold Forever 3M also continues to generate significant free cash flow to support its dividend, which it has increased in each of the last 64 years. Chevron (CVX) Chevron has Put a Priority on Protecting Its Big, Fat Dividend Source: Denis Kuvaev / Shutterstock.com The last name on this list of undervalued Dow stocks is the only oil and gas stocks in the Dow 30. Among energy companies, investors wont find companies with a much stronger balance sheet than Chevron Corporation (NYSE: CVX ). Not only does the company have a very manageable net debt ratio of 10.8%, but it reported $8.1 billion in FCF in its last quarter. And the company is planning to invest in its long-term growth including a continued push into renewable energy, particularly liquefied natural gas (LNG). The company says new LNG investments are a high priority. CVX stock recently bounced off its 52-week high so investors may want to wait for confirmation that it is ready to break higher. But for those already invested in the stock, they can enjoy a solid dividend from a company that has increased its dividend in each of the last 35 years. On the date of publication, Chris Markoch had a long position in MMM and CVX. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace $200 Oil Sooner Than You Think Buy This Now Stock Prodigy Who Found NIO at $2
Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 in savings or $5 million. Do this now. The post 7 Seriously Undervalued Dow Stocks to Buy Before Wall Street Catches On appeared first on InvestorPlace . || 6 Undervalued Dividend Stocks Paying Yields Up to 2% Or More Now: These undervalued dividend stocks are bargains based on their valuations. Investors in these stocks will get paid to wait, with yields up to 2% or more. Most of these companies have higher than 2% yields, and also good earnings, cash flow, and/or sales prospects going forward. They are also trading with cheap valuations based on earnings or price-to-sales. As a result, investors might want to invest in several of these undervalued dividend stocks. This will allow investors to diversify the earnings growth and yield aspects of their portfolios. A little bit of diversification goes a long way to simultaneously providing stability and upside to the investors portfolio prospects. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Overlooked Value Stocks to Buy Before Wall Street Catches On Lets dive in and look at these stocks. FANG Diamondback Energy $154.42 OVV Ovintiv $57.60 GS Goldman Sachs $318.95 CVE Cenovus Energy $23.90 HRB H&R Block 36.09 NVDA Nvidia $186.71 Undervalued Dividend Stocks: Diamondback Energy (FANG) diamondback energy logo on its website to represent oil stocks Source: Pavel Kapysh / Shutterstock.com Dividend Yield: 1.8% Diamondback Energy (NASDAQ: FANG ) is an oil and gas company with assets in the Permian Basin in West Texas. The operator has very good earnings, cash flow, and dividend payment prospects. As of June 3, FANG stock traded at $154.42, which puts it on a dividend yield of 1.8%. This is based on its annual dividend payment of $2.80. This is well less than the sector average of 2.79% , according to TipRanks, but its payout ratio is well less than 40% which is typical of oil and gas stocks. Moreover, analysts project that the company will produce $25.18 in earnings per share (EPS) this year and $22.29 next year. That proves that its $2.80 dividend is easily covered by earnings, and in fact, leaves plenty of room for the dividend to rise. It also shows that even for 2023, FANG stock is on a cheap forward P/E of just 6.9 times. As a result, this stock is probably too cheap. For example, if we estimate its dividend payout ratio at 40%, the dividend would be $8.92. Then, using a 2.79% dividend yield, the stock target price would be around $320 per share. That represents a good upside of 107% over todays price. Ovintiv (OVV) Ovintiv logo on a phone screen. OVV stock. Source: rafapress / Shutterstock Dividend Yield: 1.7% Ovintiv (NYSE: OVV ) is a major oil and gas producer based in Denver, CO. Its EPS is forecast to grow 33.3% from $10.75 per share in 2022 to $14.33 in 2023. At $57.60 on June 3, Ovintiv has a forward P/E of just 4.02 times forward earnings for 2023. Moreover, the company pays an annual dividend of $1. That gives it a decent dividend yield of 1.7%. Ovintiv has paid a dividend each year for the past 32 years and raised it each year for the past four years. Story continues 7 Undervalued Large-Cap Stocks to Buy for June Ovintiv has been buying back its stock for the past two quarters. It bought $182 million in the past six months ending March 2022. On an annualized basis, that represents 1.21% of its $14.9 billion value. Goldman Sachs (GS) The Goldman Sachs (GS) logo is displayed on a smartphone in front of a multi-color background. Source: Volodymyr Plysiuk / Shutterstock.com Dividend Yield: 2.5% Commercial bank stock Goldman Sachs (NYSE: GS ) is a very inexpensive investment. For example, analysts forecast an average 2022 EPS of $37.76 , putting it on a forward P/E of 8.4. This is based on its price of $318.95 as of June 3. In addition, the P/E multiple falls to 7.9x based on an EPS forecast for 2023 of $40.33. That represents 6.8% earnings growth between the two years. Goldman Sachs also pays an annual dividend of $8 per share, giving it a 2.5% dividend yield. The bank has paid dividends for the past 22 years . Goldman Sachs is very shareholder friendly. Last quarter alone it bought back $2 billion of its shares. This makes it one of the best cheap stocks to buy. Cenovus Energy (CVE) an engineer in a hard hat looks over an oil production rig Source: Shutterstock Dividend Yield: 1.4% Cenovus Energy (NYSE: CVE ) is a Calgary, Canada-based oil and gas company that will show 10% growth next year based on analysts expectations. They forecast EPS to grow from $2.86 to $3.15 per share in 2023. At $23.90 as of June 3, CVE stock is trading at a forward P/E of just 7.6 times based on its 2023 earnings projections. That is cheap for a company with this solid 10% earnings growth prospects. Moreover, Cenovus pays a variable dividend each quarter. Recently it declared a 10.5 cents Canadian dividend for Q2 . Annually that works out to around 33 cents U.S., representing a dividend yield of 1.4%. The 7 Best Stocks to Buy for June 2022 But each quarter, the dividend yield will change with the quarterly declaration. This makes it one of the top undervalued dividend stocks to buy. H&R Block (HRB) H&R block storefront in Canada. HRB stock. Source: TippyTortue / Shutterstock Dividend Yield: 3% H&R Block (NYSE: HRB ) provides do-it-yourself tax preparation software and tax preparation services. It has a very strong brand name in this field. Analysts now forecast that this year, the company will make $3.46 per share and $3.68 in 2023. So, at a price of $36.09 on June 3, HRB stock has a forward P/E multiple of 10x. Given its dividend of $1.08 per share, the stock has a high dividend yield of 3%. Moreover, the company has paid out a dividend every year for the past 32 years . That should give investors a high level of comfort that it will keep paying dividends, even if there is a severe recession. Additionally, analysts expect higher earnings next year, even if there is a recession, because, after all, everyone has to pay their taxes. Its revenue, earnings and dividends will always be fairly solid, making it one of the best stocks to buy in a recession. Nvidia (NVDA) Nvidia (NVDA) logo on a laptop screen trading stock market Source: FP Creative / Shutterstock.com Dividend Yield: 0.09% Nvidia (NASDAQ: NVDA ) is one of the fastest-growing chip stocks that specializes in data center and gaming devices, including artificial software chips. On May 25, the company reported stellar revenue and earnings despite the slowdown in the economy. For example, its earnings were up 49% from a year ago and up 3% from the previous quarter. Moreover, analysts now forecast earnings will reach $6.52 for the year ending January 2024 . That represents 20% over the $5.45 EPS forecast for the year ending in January 2023. This puts the stock on a forward P/E multiple of 29 times. That is substantially below its average 40x times forward P/E, according to Morningstar . 7 Beaten-Down Growth Stocks That Look Like Big Bargains Right Now Unfortunately, the stock has a low dividend yield of just 0.09%, well below the average yield of tech stocks that pay dividends. But that means theres a lot of room for future increases. On the date of publication, Mark Hake did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS It doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 6 Undervalued Dividend Stocks Paying Yields Up to 2% Or More Now appeared first on InvestorPlace . View comments || Bitcoin Leads the Charge as Cryptocurrencies Rebound From Recent Sell-Off: This article was originally published onETFTrends.com.
Bitcoin is leading the charge in a broader cryptocurrency recovery from the most recent sell-off, but can it buck the recurring trend this year of a temporary rally followed by more sell-offs?
Like traditional market assets like stocks and bonds, the raising of the federal funds rate by 75 basis points provided a temporary boost to the capital markets following the U.S. Federal Reserve announcement. But what's been a recurring narrative this year, bitcoin and the rest of the cryptocurrencies proceeded to follow the stock market downward in subsequent days as investors absorbed the latest news and inflation fears continued to settle back into their minds.
“Bitcoin’s weekend dip was, to put it simply, not deep enough,” said Yuya Hasegawa, a crypto market analyst at Japanese bitcoin exchange Bitbank. “The macro environment has not really changed from last week’s FOMC meeting: there still has not been a clear sign of inflation coming down and the Fed may still drive the economy into recession by raising rates too aggressively or simply by failing to tame inflation.”
Despite the recent weakness, hedge funds are still willing to add cryptocurrencies to their list of strategic exposure in search of alpha. According to PwC’s Global Crypto Hedge Fundreport, more crypto hedge funds have emerged in recent years.
Whether or not many of them will last is another story, but it still underscores the notion that more investors are taking digital assets more seriously. That also comes amid the recent sell-offs this year.
“It’s the search for alpha. Everyone is always looking for an angle in,” John Garvey, global financial services leader principal at PwC, said to TechCrunch. “So how are you going to beat the benchmarks? You have to try something different and new and unorthodox.”
Investors looking to get digital assets exposure via bitcoin can look to exchange traded funds (ETFs) as a dynamic investment vehicle option. The ETF can give investors the option to get exposure to bitcoin without investing directly in the coin itself.
For investors worried about security via online cryptocurrency exchanges, theProShares Bitcoin ETF (BITO)offers the opportunity to invest with confidence in a traditional market exchange — in this case, the New York Stock Exchange. BITO offers investors exposure to bitcoin via futures and getting correlated exposure to bitcoin prices itself, but as mentioned, while maintaining the regulatory framework of the traditional financial markets.
For more news, information, and strategy, visit theCrypto Channel.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Onchain Analysis as Price Hovers around $30,000 on June 9: • Bitcoin has been hovering around the $30,000 price point for the past week.
• Uncertainty and volatility are the only constraints within the crypto market, and the top crypto asset might get back up in value.
• As BTC leaves exchanges, we are seeing a huge influx of HODLers.
Bitcoin (BTC/USD)is one of the largest cryptocurrencies in market capitalization and has had a bearish outlook throughout the past few weeks
Bitcoin is the largest cryptocurrency by market capitalization BTC. Itsblockchain networkhas been utilized in numerous solutions as well.
As such, it is the go-to cryptocurrency that many investors tend to jump into, gaining much mainstream attention.
Any store that starts to accept crypto will typically include Bitcoin (BTC) first, and any country that aims to make crypto legal tender opts to use Bitcoin.
As of recently, whales have started accumulating Bitcoin a lot. If you are acrypto trader, you need to be aware of this information so you can be prepared for trading Bitcoin.
According to data generated by Santiment, over 50,000 Bitcoin (BTC) were withdrawn from cryptocurrency exchanges throughout the last week. The price of the coin has been hovering around $30,000 per BTC.
The Bitcoin supply sitting on exchanges is down 9.9%, and the exchange supply has not been this low in 3.5 years.
This can be highly attributed to mega whale addresses, which have been accumulating the crypto at an unprecedented rate.
These whales gained their highest supply of Bitcoin (BTC) in a year, showcasing solid confidence and belief in the crypto from the perspective of HODLing the coin.
Before diving into acryptocurrency exchangeto trade or invest in BTC, here is what you need to know.
Bitcoin (BTC) was trading at a value of $30,600.86 as of June 9, 2022.
The all-time high for the BTC cryptocurrency was on November 10, 2021, when the coin reached $69,044.77 in value.
When we look at its 7-day performance, its 7-day low was at $29,419.16, while its 7-day high was at $31,565.67.
With that in mind, we can see a pattern where BTC has both dipped under $30,000 and gone above $31,000.
This indicates BTC’s price has been covered in a tight range without much meaningful price action.
We can also see how resilient and strong the Bitcoin network is through the hash rate chart, as analysts have pointed out.
When we look at the total liquidations of Bitcoin (BTC) in the last 24 hours, we can see that there were $26.70 million, with $2.87 million in just an hour.
Furthermore, when we look at the long and short percentage of Bitcoin, as of June 9, 2022, the long is 31.92%, while the short is 68.08%, which leads us to a long/short rate of 0.47%.
Furthermore, we can see that the network experienced $134.77 billion in transactions greater than $100,000 throughout the last 7-days. There were $4.1 billion in total exchange inflows and $4.83 billion in total exchange outflows.
With all of this in mind, it is clear that investors are starting to HODL the cryptocurrency and are not too quick to sell it.
This shows a sign of confidence that Bitcoin (BTC) can showcase a solid potential for growth soon.
Based on its historical price points, performance, and overall state of the cryptocurrency market, Bitcoin activity is still relatively high. We will likely see Bitcoin (BTC) break past the $32,000 price barrier by June 2022.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 19970.56, 19323.91, 20212.07, 20569.92, 20836.33, 21190.32, 20779.34, 22485.69, 23389.43, 23231.73
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-03-07]
BTC Price: 38062.04, BTC RSI: 42.75
Gold Price: 1993.90, Gold RSI: 73.12
Oil Price: 119.40, Oil RSI: 80.86
[Random Sample of News (last 60 days)]
Mozilla pauses crypto donations following criticism over climate impact: After announcing that it would accept cryptocurrency donations last week, the Mozilla Foundation has put them on hold following critical comments from a Mozilla founder and numerous others,TechCrunchreported. "Starting today we are reviewing if and how our current policy on crypto donations fits with our climate goals," the company tweeted." And as we conduct our review, we will pause the ability to donate cryptocurrency."
Mozilla announced the new policy with ajokey tweet, saying folks who "dabble in @dogecoin" or are "HODLing some #Bitcoin & Ethereum" can donate their crypto directly to the foundation. That was met by acaustic replyfrom Mozilla co-founder Jamie Zawinski. "F*** you and f*** this," he tweeted. "Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters." Peter Linss, the designer of the Gecko engine that powers Firefox, chimed in as well, telling Mozilla that "you were meant to be better than this."
Yesterday, Mozilla backpedaled on the idea, saying in a tweet that the comments "led to an important discussion about cryptocurrency's environmental impact." It added that "decentralized web technology continues to be an important area for us to explore, but a lot has changed since we started accepting crypto donations."
Cryptocurrencies like Bitcoin and Ethereum are created by solving complex math problems and by design, become harder to "mine" over time. They also have to be stored in a public ledger, something that also consumes energy. As a result, Bitcoinuses more energythan many countries, and much of that comes from dirty sources like coal.
Last year Teslaannouncedthat it would accept Bitcoin payment for its EVs, and even bought up $1.5 billion worth of Bitcoin to smooth the process. However, many folks pointed out that the environmental benefits of an EV could heavily reduced by thestaggering amountof electricity required to mine a single Bitcoin.
Mozilla said it will continue to explore the cryptocurrency donation idea but keep folks in the loop this time. "In the spirit of open-source, this will be a transparent process and we'll share regular updates," the Foundation tweeted. "We look forward to having this conversation and appreciate our community for bringing this to our attention." || Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF, Invesco BulletShares 2024 High ...: Investment company Crescent Capital Consulting, LLC ( Current Portfolio ) buys iShares TIPS Bond ETF, Invesco BulletShares 2024 High Yield Corporate Bon, SPDR S&P Bank ETF, BTC iShares MSCI USA Min Vol Factor ETF, iShares S&P 500 Growth ETF, sells iShares MSCI ACWI Ex US Index Fund, Global X U.S. Preferred ETF, Invesco BulletShares 2023 Corporate Bond ETF, First Trust Dow Jones Internet Index Fund, Invesco S&P 500 Equal Weight ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Crescent Capital Consulting, LLC. As of 2021Q4, Crescent Capital Consulting, LLC owns 494 stocks with a total value of $607 million. These are the details of the buys and sells. New Purchases: BSJO, KBE, VOO, CBRE, DOUG, JETS, SCZ, BIIB, BW, QRTEP.PFD, KD, ONL, RIVN, BITO, FBHS, ESGU, NTAP, META, PSJ, USD, Added Positions: TIP, USMV, IVW, VGK, ACWV, BWXT, KO, PSI, EEMV, SMMV, BSJN, BSJM, IVV, DVYE, VHT, IWD, IWF, HAL, DIA, ESGV, INTC, LLY, PFE, VNQ, NEAR, IBB, IVE, JPM, MRK, NSC, QCOM, VB, ENB, AXP, GLD, SPY, MO, VONV, VTI, CMCSA, AAPL, CVX, MRNA, AMZN, VZ, TSM, VAW, CI, MDT, HWC, QCLN, GOOGL, C, CSCO, BK, AMGN, AB, DUK, GILD, DOW, HON, VTRS, PENN, XRX, PTY, DFS, XYL, PDI, OGN, Reduced Positions: ACWX, PFFD, BSCN, FDN, RSP, EFA, EQAL, IJT, IWO, IWP, IJK, VDC, IWM, XSVM, IWN, IWS, IJJ, VIG, XMVM, T, VWO, VONG, IJS, BRK.B, XOM, MPLX, SPMB, JNJ, ALL, MJ, CB, UNH, GIFI, GE, HEES, LOW, NVDA, TMUS, DISCK, KKR, VOD, WFH, SLVM, HLTH, OXY, BP, PBW, IWR, IBM, VIAC, Sold Out: BAC, ADP, IBHB, IBHC, TSLA, VCR, MAXR, TPIC, MDLA, COIN, BSJL, GBTC, GXC, IZRL, TMV, Warning! GuruFocus has detected 2 Warning Sign with VNT. Click here to check it out. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows For the details of Crescent Capital Consulting, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/crescent+capital+consulting%2C+llc/current-portfolio/portfolio These are the top 5 holdings of Crescent Capital Consulting, LLC iShares Core S&P 500 ETF ( IVV ) - 140,585 shares, 11.05% of the total portfolio. Shares added by 1.69% iShares Russell 1000 Growth ETF ( IWF ) - 1,123,817 shares, 5.63% of the total portfolio. Shares added by 2.32% Invesco BulletShares 2023 High Yield Corporate Bon ( BSJN ) - 863,246 shares, 3.60% of the total portfolio. Shares added by 6.65% Invesco BulletShares 2022 High Yield Corporate Bon (BSJM) - 938,547 shares, 3.59% of the total portfolio. Shares added by 5.90% Freeport-McMoRan Inc (FCX) - 478,980 shares, 3.29% of the total portfolio. Story continues New Purchase: Invesco BulletShares 2024 High Yield Corporate Bon (BSJO) Crescent Capital Consulting, LLC initiated holding in Invesco BulletShares 2024 High Yield Corporate Bon. The purchase prices were between $24.52 and $25.04, with an estimated average price of $24.8. The stock is now traded at around $24.760000. The impact to a portfolio due to this purchase was 1.87%. The holding were 454,682 shares as of 2021-12-31. New Purchase: SPDR S&P Bank ETF (KBE) Crescent Capital Consulting, LLC initiated holding in SPDR S&P Bank ETF. The purchase prices were between $51.57 and $57.5, with an estimated average price of $55.11. The stock is now traded at around $59.220000. The impact to a portfolio due to this purchase was 1.67%. The holding were 185,710 shares as of 2021-12-31. New Purchase: Vanguard S&P 500 ETF (VOO) Crescent Capital Consulting, LLC initiated holding in Vanguard S&P 500 ETF. The purchase prices were between $392.77 and $439.01, with an estimated average price of $421.15. The stock is now traded at around $419.740000. The impact to a portfolio due to this purchase was 0.06%. The holding were 808 shares as of 2021-12-31. New Purchase: CBRE Group Inc (CBRE) Crescent Capital Consulting, LLC initiated holding in CBRE Group Inc. The purchase prices were between $95.02 and $108.58, with an estimated average price of $102.58. The stock is now traded at around $101.410000. The impact to a portfolio due to this purchase was 0.03%. The holding were 1,800 shares as of 2021-12-31. New Purchase: iShares MSCI EAFE Small-Cap ETF (SCZ) Crescent Capital Consulting, LLC initiated holding in iShares MSCI EAFE Small-Cap ETF. The purchase prices were between $69.99 and $75.86, with an estimated average price of $73.08. The stock is now traded at around $70.890000. The impact to a portfolio due to this purchase was 0.01%. The holding were 1,226 shares as of 2021-12-31. New Purchase: ESS U.S.Global Jets ETF (JETS) Crescent Capital Consulting, LLC initiated holding in ESS U.S.Global Jets ETF. The purchase prices were between $19.25 and $24.63, with an estimated average price of $22.13. The stock is now traded at around $21.830000. The impact to a portfolio due to this purchase was 0.01%. The holding were 2,000 shares as of 2021-12-31. Added: iShares TIPS Bond ETF (TIP) Crescent Capital Consulting, LLC added to a holding in iShares TIPS Bond ETF by 744.59%. The purchase prices were between $126.62 and $129.87, with an estimated average price of $128.15. The stock is now traded at around $125.310000. The impact to a portfolio due to this purchase was 2%. The holding were 106,596 shares as of 2021-12-31. Added: BTC iShares MSCI USA Min Vol Factor ETF (USMV) Crescent Capital Consulting, LLC added to a holding in BTC iShares MSCI USA Min Vol Factor ETF by 166.76%. The purchase prices were between $73.05 and $81.04, with an estimated average price of $77.29. The stock is now traded at around $76.780000. The impact to a portfolio due to this purchase was 1.01%. The holding were 121,593 shares as of 2021-12-31. Added: iShares S&P 500 Growth ETF (IVW) Crescent Capital Consulting, LLC added to a holding in iShares S&P 500 Growth ETF by 48.03%. The purchase prices were between $73.1 and $84.81, with an estimated average price of $80.59. The stock is now traded at around $77.600000. The impact to a portfolio due to this purchase was 0.81%. The holding were 180,613 shares as of 2021-12-31. Added: Vanguard FTSE Europe ETF (VGK) Crescent Capital Consulting, LLC added to a holding in Vanguard FTSE Europe ETF by 81.60%. The purchase prices were between $64.49 and $69.3, with an estimated average price of $67.12. The stock is now traded at around $67.310000. The impact to a portfolio due to this purchase was 0.75%. The holding were 148,980 shares as of 2021-12-31. Added: iShares MSCI Global Min Vol Factor ETF (ACWV) Crescent Capital Consulting, LLC added to a holding in iShares MSCI Global Min Vol Factor ETF by 171.27%. The purchase prices were between $101.21 and $108.28, with an estimated average price of $104.9. The stock is now traded at around $104.480000. The impact to a portfolio due to this purchase was 0.64%. The holding were 57,268 shares as of 2021-12-31. Added: BWX Technologies Inc (BWXT) Crescent Capital Consulting, LLC added to a holding in BWX Technologies Inc by 990.80%. The purchase prices were between $46.25 and $58.32, with an estimated average price of $52.19. The stock is now traded at around $48.460000. The impact to a portfolio due to this purchase was 0.49%. The holding were 68,175 shares as of 2021-12-31. Sold Out: Bank of America Corp (BAC) Crescent Capital Consulting, LLC sold out a holding in Bank of America Corp. The sale prices were between $43.14 and $48.37, with an estimated average price of $45.61. Sold Out: Automatic Data Processing Inc (ADP) Crescent Capital Consulting, LLC sold out a holding in Automatic Data Processing Inc. The sale prices were between $199.97 and $248.01, with an estimated average price of $227.15. Sold Out: iShares iBonds 2023 Term High Yield and Income ETF (IBHC) Crescent Capital Consulting, LLC sold out a holding in iShares iBonds 2023 Term High Yield and Income ETF. The sale prices were between $24.2 and $24.5, with an estimated average price of $24.37. Sold Out: iShares iBonds 2022 Term High Yield and Income ETF (IBHB) Crescent Capital Consulting, LLC sold out a holding in iShares iBonds 2022 Term High Yield and Income ETF. The sale prices were between $24 and $24.15, with an estimated average price of $24.1. Sold Out: Vanguard Consumer Discretionary ETF (VCR) Crescent Capital Consulting, LLC sold out a holding in Vanguard Consumer Discretionary ETF. The sale prices were between $308.6 and $354.93, with an estimated average price of $335.71. Sold Out: Tesla Inc (TSLA) Crescent Capital Consulting, LLC sold out a holding in Tesla Inc. The sale prices were between $780.59 and $1229.91, with an estimated average price of $1012.35. Here is the complete portfolio of Crescent Capital Consulting, LLC. Also check out: 1. Crescent Capital Consulting, LLC's Undervalued Stocks 2. Crescent Capital Consulting, LLC's Top Growth Companies, and 3. Crescent Capital Consulting, LLC's High Yield stocks 4. Stocks that Crescent Capital Consulting, LLC keeps buyingThis article first appeared on GuruFocus . || Alleged ‘Tinder Swindler’ Defends Being a ‘Legit Businessman,’ Hopes to Clear His Name: The supposed Tinder Swindler still hopes you’ll swipe right. Despite being banned from dating apps , Shimon Hayut — who goes by Simon Leviev on social media — is looking to clear his name following the Netflix documentary “ The Tinder Swindler .” According to the film, three women — Cecilie Fjellhøy, Pernilla Sjoholm, and Ayleen Charlotte — believed Hayut to be Simon Leviev, the son of Israeli diamond tycoon Lev Leviev. His alleged victims, which extend beyond just those seen in the film, reportedly gave Hayut an estimated $10 million between 2018 and 2019. More from IndieWire 'Squid Game': SAG Awards Nominee Lee Jung-jae Thinks You Should Read the Subtitles Netflix Won't Bring Films to Cannes This Year -- In or Out of Competition Now, Hayut is telling his side of the story during an “ Inside Edition ” interview. “I’m not this monster,” Hayut said. “I was just a single guy that wanted to meet some girls on Tinder.” Hayut continued, “[These women] weren’t conned and they weren’t threatened…I want to clear my name, I want to say to the world, this is not true.” Prior to the documentary, Hayut faced multiple charges in Israel and was sentenced to prison time in Finland. As reported by The Hollywood Reporter , Hayut denied fraud claims and told the filmmakers he would file a lawsuit for “defamation and lies.” Hayut maintained that he did not misrepresent himself as a member of the Leviev family, and added that he doesn’t “feel bad” for the supposed con victims. “I’m not a fraud and I’m not a fake,” Hayut said. “People don’t know me so they cannot judge me.” Hayut explained he is a “legit businessman” who purchased Bitcoin in 2011: “I don’t need to say how much it’s worth now,” he added. Since “The Tinder Swindler” premiered February 2, Hayut has since signed with Gitoni talent management and joined Cameo, charging fans $199 for personalized video messages. Hayut also debuted a NFT collection and launched a T-shirt website with clothing reading, “My enemies are after me.” Per the website, a “portion of the proceeds goes to Global Fund for Children.” Story continues The women featured in the Netflix documentary, Fjellhøy, Sjoholm, and Charlotte, started a GoFundMe crowdfunding campaign to raise money to clear their debts following the release of the documentary. “The past few days have been a whirlwind, and we three (Ayleen, Pernilla and Cecilie) have been completely shocked and floored by the flood of compassion and support from everyone. The sheer love is more than we ever expected, and we appreciate you all so much,” a statement reads on the GoFundMe page. “We realize there are a thousand other worthy causes to donate to, and remain forever grateful if you choose to donate to this one. All we want are our lives back.” Best of IndieWire 'House of the Dragon': Everything You Need to Know About HBO's Upcoming Series The Best International Series on Netflix to Watch Right Now 'Obi-Wan Kenobi': Everything You Need to Know About the Disney+ Series Sign up for Indiewire's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article. || Coinbase crushes expectations in Q4 earnings, but stock sinks as it reports slower start to year: Shares of Coinbase, the American crypto trading giant, initially soared when itreported its Q4 2021 earnings today,but investors quickly sold off the spike bringing the stock price down as much as 9%, hovering just above an all-time low.
The company bested investor expectations in the trailing period. However, citing a "decline in crypto asset volatility and crypto asset prices," Coinbase said that it expects retail monthly transacting users (MTUs, in its parlance) and total trading volume to decline sequentially in the first quarter.
In the fourth quarter of 2021, Coinbase generated $2.50 billion in total revenue, up from $585.1 million in the year-ago quarter. The company's massive growth in top-line led to huge profitability gains, with its net income soaring from $176.8 million in the final three months of 2020 to $840.2 million in Q4 2021. The company also reported GAAP earnings per share of $3.92, on a diluted basis, in the final quarter of last year.
Investors had expected Coinbase to report $1.94 billion in revenues, and earnings per share of $1.85. However, we'll note that estimates for Coinbase's revenue and profit were rather wide heading into its call, with revenue estimates ranging from $1.19 billion to $2.44 billion, per dataprovided by Yahoo Finance.
Moving past the numerical nuts and bolts of corporate finance, what can we glean from the Coinbase quarter as it relates to the crypto world? Lots. The following chart is rich in information:
Up top we can see that retail trading activity in volume terms remains a fraction of its institutional volume; bear in mind, however, that retail investors generate not only the vast bulk of Coinbase's trading revenues, but also the preponderance of its total top line. Despite lower volume, retail trades were worth $2.185 billion in revenue in Q4 2021, while institutional trades only generated $90.8 million in revenue.
Moving along, Bitcoin's era of dominance in terms of trading volume and trading revenue generation at Coinbase is clearly over. It merely tied the Ethereum blockchain for trading volume and trading revenue. And, finally from the above, the rise ofothercrypto assets in terms of both trading volumes and incomes is something to chew on; while the crypto world at times appears to revolve around just two blockchains and their related projects, the Coinbase revenue story is a very different picture.
Coinbase crushed estimates, posted huge profits and grew massively from its year-ago quarter. So why is the stock down? The answer is simple: The market cares more about what you are going to do than what you've done. Guidance, in other words, can trump strong trailing results.
Before Coinbase dropped its Q4 report, the market had expected it to generate $1.69 billion in Q1 2022 revenues and earnings per share of $1.55. Did the company's forecasts indicate that it might not hit those marks?
Here's what Coinbase told investors it is seeing in Q1 2022 thus far:
• Total trading volume of $200 billion to-date, which appears to have the company on a pace to dramatically undershoot recent quarters' volume figures (see above table).
• Lower "subscriptions and services revenues" than in the fourth quarter, which along with the above datapoint underscore the fact that Coinbase appears set to shrink sharply in top-line terms in Q1 2022 compared to Q4 2021.
Looking even further ahead, Coinbase says that it expects annual average retail MTUs to land between five million and fifteen million, a massive range. And the company expects "Average Transaction Revenue Per User" to decline to "pre-2021 levels." Investors don't love a non-growth story, and Coinbase did not promise one.
We'll have more from the company's earnings call, so stay tuned. || Ocean Falls Blockchain Inks LOI With West Coast Marine Terminals: This arrangement would make OFB a global leader in clean energy-powered Bitcoin mining Vancouver, British Columbia--(Newsfile Corp. - March 7, 2022) - Ocean Falls Blockchain Corp. ("OFB" or the "Company") is pleased to announce a Letter of Intent signed with West Coast Marine Terminals (WCMT). This potential partnership would enable Ocean Falls to increase its mining capacity up to 80 megawatts (MW) by the end of 2024, starting with an initial phase one expansion at the start of next year. Ocean Falls is moving to acquire roughly 21,780 sq. ft. of outdoor container space fully powered by renewable energy resources. Ocean Falls purchased two prototype container units and have been running viability tests since January, in advance of any larger-scale expansion. "The initial results from the viability tests look great," said Oded Orgil, CEO at Ocean Falls Blockchain. "We are very excited for this partnership, it would mean a milestone achievement for Ocean Falls' pursuit of clean energy solutions to support the backbone of decentralized networks like Bitcoin." In the last couple of years, the balance of hashing power has slowly shifted toward North American miners. Hydroelectricity is a big part of this, according to Orgil, as it's an attractive source of energy for bitcoin miners in the face of today's environmental realities. Ocean Falls currently operates a 2 MW-plus, clean energy-powered cryptocurrency mining farm in historic Ocean Falls, B.C. "We believe this potential partnership is a pivotal opportunity for West Coast Terminals to bridge our strategic interests and access to infrastructure in Gold River with the growing Canadian blockchain technology sector," said Kent O'Neill, General Manager at WCMT. West Coast Terminal has 240 acres (100 hectares) of usable industrial zoned land, including storage facilities with over 350,000 sq. ft. (32,500 m2) of covered warehouse buildings. Story continues Visit oceanfalls.com for more information on OFB. About West Coast Marine Terminals West Coast Marine Terminals is a deep sea port that presents numerous opportunities to support established industry as well as pose as a significant resource to commercial activities. West Coast Marine Terminals is located in a protected inlet on the west coast of Vancouver Island in Nootka Sound and is central to both the Northwest and USA border. About Ocean Falls Blockchain Ocean Falls is a Canadian blockchain technology company that operates a 2MW-plus, clean energy-powered cryptocurrency mining farm in historic Ocean Falls, B.C. Ocean Falls is also creating a new sustainable solution for the captive insurance industry. Media Contact Oded Orgil, CEO (Ocean Falls Blockchain) [email protected] Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. Additionally, there are known and unknown risk factors which could cause Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. ### To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115572 || Nouriel Roubini Advises El Salvador Legislators to Impeach President Bukele: When El Salvador President Nayib Bukele introduced pro-Bitcoinlaws to the country and bought the flagship digital currency with its fund last year, many saw it as the start of a new era. Butseveral individuals also kicked against it, and one of them was Nouriel Roubini.
The professor of Economics who has always spoken against Bitcoin recently stated that Bukele ought to be impeached for bankrupting the country with his Bitcoin investment.
This came after Moody’s downgraded El Salvador credit rating as concerns about its crypto tradings increased. With the downgrade, the country will not get the $1.3 billion loan it seriously needs from the International Monetary Fund (IMF).
According to Jaime Reusche, an analyst at Moody’s, the credit rating will only keep getting worse as El Salvador increases its Bitcoin exposure. The higher it is, the riskier it would be to borrow the country’s new funds.
The Central American country has $800 million worth of dollar bonds due in January 2023. The volatility of Bitcoin and the country’s debt problems have increased the bonds’ yield by 34% already. They were also the worst-performing bonds in the world.
With El Salvador holding at least 1,801 Bitcoin, the dip has led to criticisms from various quarters. According to some estimates, Bukele has lost over $20 million of El Salvador’s money to the dip.
The self-styled CEO of El Salvador doesn’t seem to care about the dwindling fortunes of BTC. Amidst the tumbling prices, he announced that the country just bought an additional 410 units of the coin for just $15 million. In the tweet, which included several emojis, he added that the recent buy was “really cheap.”
Earlier this year, Bukele madeseveral bullish predictionsabout Bitcoin, including that it’ll get to $100k. Thus, this dip-buying frenzy isn’t surprising for someone who’s very optimistic about the asset. Already, there areplansto issue Bitcoin-backed loans for businesses in the country.
While Bukele might be optimistic, those in economic circles don’t share the same views. There are also allegations of authoritarianism against the man who has called himself the world’s coolest dictator in the past.
Yesterday, he changed hisTwitterprofile picture to one where he was wearing a face cap from McDonald’s — a nod to the ongoing job application joke ongoing on the social media platform due to the dip of Bitcoin.
Thisarticlewas originally posted on FX Empire
• Uniswap Founder: JPMorgan Closed My Bank Account Without Notice
• E-mini NASDAQ Counter-Trend Buyers Trying to Overtake 14144
• Gold Prices Hold Steady Despite a Rising Dollar
• Nouriel Roubini Advises El Salvador Legislators to Impeach President Bukele
• Silver Markets Get Crushed
• USD/CAD Rallies Amid Demand For Safe-Haven Assets || Gold Markets Continue to Search for Support: Gold markets have gapped higher to kick off the trading session on Monday, and then went back and forth to show signs of hesitation. The $1780 level has offered support more than once, and I do believe it continues to be the same going forward. Because of this, I think we will continue to see a little bit of a bounce around over the next couple of days, which does make a certain amount of sense when you take a look at the economic calendar with so many central banks meeting over the next week. Gold Price Predictions Video 01.02.22 If we do break down below the $1780 level on a daily close, then I think gold has further to go to the downside, perhaps showing a big move brewing. However, if we were to turn around and break above the 200 day EMA, which currently sits at the $1802 level. If that ends up being broken, it is very likely that we could go looking to fill the gap above. That being said, keep in mind that gold is very noisy to say the least, so it does make a certain amount of sense that we would see choppy behavior with so much headline risk out there. Pay attention to the interest rate markets, because if interest rates start to spike again, that could work against the value of the gold markets, but obviously it comes down to the rate of change as well. I think the only thing you can count on is short-term volatility, which will more than likely lead to multiple short-term trading opportunities. Longer-term moves are probably still off the table in the next few days. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Winter Olympics Merchants to Accept Digital Yuan, Says Chinese Banks Silver Markets Trying to Stabilize USD/CAD Tests Support At 1.2710 New Poll Shows Russians Remain Undecided on Crypto Ban Peter Brandt Suggests It Could Be Time To Buy Bitcoin Verizon Partnered Entain Arm To Invest $133 Million Into the Metaverse || EUR/USD Tests The 1.1400 Level: U.S. Dollar Moves Higher Against Euro EUR/USD is currently trying to settle below the 1.1400 level while U.S. dollar is gaining ground against a broad basket of currencies. The U.S. Dollar Index has recently made an attempt to settle above the resistance at the 50 EMA at 95.75 but failed to develop sufficient upside momentum and pulled back towards 95.65. The nearest support level for the U.S. Dollar Index is located at 95.40. In case the U.S. Dollar Index gets to the test of this level, EUR/USD will get more support. Today, foreign exchange market traders will have a chance to take a look at trade balance figures from the U.S., but this report should not have a material impact on EUR/USD dynamics. Instead, traders will focus on the dynamics of U.S. government bond markets as Treasury yields continue to move higher at a fast pace ahead of U.S. inflation reports which will be released on Thursday. Inflation data will serve as the main catalyst for the markets this week, and traders should expect volatility as markets prepare for the release of U.S. inflation reports. Technical Analysis EUR/USD is moving towards the nearest support level which is located at 1.1390. In case EUR/USD manages to settle below this level, it will head towards the next support level at 1.1370. A move below the support at 1.1370 will open the way to the test of the support at the 50 EMA at 1.1345. The 20 EMA is located in the same area, and it looks that EUR/USD may get significant support in the 1.1340 – 1.1350 area. On the upside, EUR/USD needs to settle back above 1.1400 to have a chance to gain upside momentum in the near term. The next resistance level for EUR/USD is located at 1.1420. If EUR/USD climbs above 1.1420, it will head towards the resistance at 1.1450. A successful test of this level will push EUR/USD towards the resistance at 1.1465. In case EUR/USD gets above 1.1465, it will head towards the recent highs near 1.1485. For a look at all of today’s economic events, check out our economic calendar . Story continues This article was originally posted on FX Empire More From FXEMPIRE: FDIC Will Focus on Crypto-Asset Risks in 2022 NZD/USD Strengthens Over .6684, Weakens Under .6590 Kazakhstan Takes Aim at Bitcoin (BTC) Miners with Talk of 500% Tax Polygon China’s Former Head Charlie Hu Joins Syscoin EUR/USD Tests The 1.1400 Level GBP/USD Remains Under Pressure || Latest Bitcoin price and analysis (BTC to USD): Bitcoin remains in an area of indecision as it heads into the typically low volume weekend. The world’s largest cryptocurrency is currently trading at $43.200 having experienced a slight bounce from the $40,000 region this week. However, the relief bounce to the upside has coincided with a fearsome daily death cross, which has seen the 50 exponential moving average cross the 200 EMA to the downside for the first time Bitcoin’s previous macro downtrend in June. This is a worrying signal for investors as it indicates that short term momentum has shifted to a point where the macro trend also appears to be down. In order for Bitcoin to buck the trend and truly form a reversal, it needs to trade back above the $53,000 level of resistance to break the cycle of lower highs. Bitcoin BTCUSD chart by TradingView Creating a series of higher lows from $40,000 could trigger a reversal, but it’s worth noting that the odds are currently stacked against the cryptocurrency market. A more likely scenario is another rejection from the $44,000 to $46,400 region before it makes another low around $37,300 before the end of the month. At that stage, unless Bitcoin enters another period of accumulation, it would be in a troublesome bear market, with eventual targets going as far as the 2017 high of $20,000. To buy, sell and hold Bitcoin using Coin Rivet’s state-of-the-art platform, click here . For more news, guides and cryptocurrency analysis, click here. Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin .org was registered. On 31st October 2008, a paper was published called “ Bitcoin : A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto , the inventor of Bitcoin . To date, no one knows who this person, or people, are. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “ genesis block ”), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. || Almost Half of Women Know How to Buy Crypto, But Majority Can’t Justify the Risk: Irina Shatilova / iStock.com The gender gap in knowledge concerning all things related to cryptocurrency investment is nothing new — however, there are encouraging signs that women are increasingly participating in the space , according to a new survey. See: As Russia Invades Ukraine, is Bitcoin Still a Safe Haven Compared to Gold? Find: Bitcoin Rises as US Imposes Additional Sanctions Against Russia A new BlockFi survey, “Real Talk: Women x Crypto 2.0,” found that while many women view crypto as a means to achieve financial goals, an education gap persists — and while crypto curiosity is increasingly translating into practical intent and investment, some skepticism remains. Indeed, the survey found that while 45% of women polled say they understand how to buy crypto, 80% say it’s still confusing and a whopping 72% say it’s too risky to invest in. Dawn Newton, co-founder and COO of Netki , told GOBankingRates that the increase in women who feel they understand crypto is a sign of growth for the industry, and one of the most important things about crypto is that it is equally accessible to anyone, regardless of gender, race, or geographical location. “While 72% of women may feel like it’s too risky to invest, I think that as they discover this space in greater numbers and see how much more room this sector has to grow, they in turn will likely come around to investing in crypto in much greater numbers,” Newton said. In terms of which cryptos they buy the most, bitcoin is by far the favored one. A full 71% of respondents who owned crypto held bitcoin, followed by dogecoin at 42% and ether at 18%. In addition, one in three women surveyed are planning on purchasing crypto in 2022 — and one in five women believe crypto can help them reach their financial goals. Rebekah Keida, director of marketing at global cryptofinance firm XBTO , told GOBankingRates that it “doesn’t shock me that one out of three women plan to buy crypto in 2022. Bitcoin has a proven track record — it continues to exist and evolve, while presenting an intriguing opportunity for economic transformation.” Story continues “In fact, I know a surprising number of women who bet early on crypto ‘alt coins’ (mostly ethereum) and now never need to work again. Although that’s not the norm, the opportunity for economic transformation is widely intriguing,” she said. Another interesting finding suggested by the survey is that women’s interest in crypto extends beyond investing to include careers. With crypto-related job postings up nearly 400% in the past year alone, about 10% of women surveyed believe crypto is the most promising career sector — twice the number of respondents who said fintech. In addition, 15% of women polled said they are interested in a career in crypto, with approximately 10% planning to apply to a role at a crypto- or blockchain-focused company in the next year. Elizabeth Kukka, chief operating officer of Masa Finance , told GOBankingRates that while it’s exciting to see women becoming crypto-curious as well as pursuing careers in the blockchain space, they are still behind men in the race to “win big” in the new digital economy. Learn: Bitcoin Payroll: The Future of Hiring? Crypto Benefits Plan Could Attract Workers and Improve Employee Retention Explore: Spot Bitcoin ETFs on the Horizon? Grayscale Asks Investors to Speak Out in Support Ahead of SEC Ruling “If the industry can close the digital asset education gap and make financial tools widely accessible to all, women will have a more even playing field to achieve their financial goals,” Kukka said. “In addition to enabling them to become their own bank, as the industry motto goes, crypto gives women the opportunity to build substantial wealth and catch up to their male counterparts. My hope is that crypto will usher in a new era of financial inclusion in which all have access to the tools needed to find financial freedom.” More From GOBankingRates Waiting on Tax Refund? What 'Return Being Processed' Status Really Means 15 Worst States To Live on Just a Social Security Check How to Easily Add $500 to Your Wallet This Month Social Security Schedule: When First COLA Checks Will Arrive in March 2022 This article originally appeared on GOBankingRates.com : Almost Half of Women Know How to Buy Crypto, But Majority Can’t Justify the Risk
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 38737.27, 41982.93, 39437.46, 38794.97, 38904.01, 37849.66, 39666.75, 39338.79, 41143.93, 40951.38
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-06-16]
BTC Price: 9538.02, BTC RSI: 51.88
Gold Price: 1729.60, Gold RSI: 53.59
Oil Price: 38.38, Oil RSI: 61.51
[Random Sample of News (last 60 days)]
Ethereum Has Become Bitcoins Top Off-Chain Destination: Hester Peirce, one of five commissioners with the U.S. Securities and Exchange Commission (SEC), has been tapped for a second term at the regulatory agency. Peirce, who has been one of the most prominent crypto advocates among the U.S.s regulatory agencies, took office in January 2018 after U.S. President Donald Trump nominated her to finish the last two years of a five-year-term. Without the renomination, her term would have expired on Friday. The new term would see her serving through 2025, said Bloomberg Law , which first reported the move. Related: SEC Crypto Mom Hester Peirce Tapped for Second Term at US Regulator In recent months, the regulator has proposed a safe harbor for crypto startups looking to issue tokens, as a way of allowing these companies to raise funds and begin operations without fear of running afoul of U.S. securities laws. Peirce asked for the general public to provide feedback on the proposal after publishing it. Peirce has been dubbed Crypto Mom , after she publicly dissented on the SECs decision to reject a bitcoin exchange-traded fund application filed by Cameron and Tyler Winklevoss. Peirce declined to comment, but the regulator previously told CoinDesk that she did not feel as though her work at the agency was finished. I certainly dont feel done with what I want to do at the SEC. I really dont feel done. Theres lots of work still to be done, she said in February. Related Stories US Court Freezes Assets Linked to Alleged $9M ICO Scam Telegram Quits Court Fight With SEC Over TON Blockchain Project Kin Foundation Publishes First Transparency Report Amid SEC Court Fight || Kingdom Trust acquires company from CoinShares founders, enables hybrid IRA with bitcoin bonus: Kingdom Trust, the $13 billion custodian, has acquired a crypto retirement company created by former CoinShares founders.
The acquisition of Choice Holdings enabled the launch of Kingdom Trust's Choice platform, a unified retirement account where individuals can hold different asset classes, including crypto. The custodian is also offering a bitcoin bonus to the first 1,000 users of the Choice platform. Once opened, they'll receive $62.50 in BTC in their account.
Ryan Radloff, CEO of Kingdom Trust, said the retirement custodian estimated 7.1 million American bitcoiners have a retirement account. However, there are few options to hold BTC with other assets in a retirement account.
Radloff himself was a co-founder of Choice Holdings as well as a co-founder and previous CEO of CoinShares. Now, his current venture has acquired his previous one, marking the first digital asset acquisition for the retirement custodian. However, Kingdom Trust has offered custody for bitcoin and other digital assets since its early days in 2016.
AsCoinDesk reported, a relationship with crypto exchange Kraken enabled access to digital assets and legacy brokers for traditional assets. The retirement accounts enable the buying, selling and holding of digital assets with exchange-traded funds (ETFs) and stocks on the same platform.
The firm already trialed a version of the Choice platform in Q1 of this year. Bitcoin drove the most volume of crypto transactions, and the average crypto trade reached $13,000, according to a release from Kingdom Trust.
Kingdom Trust Chairman Matt Jennings said he expects a unified account with exposure to bitcoin will be standard in five years.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Bitcoin and Ether see Signs of Bullish Movement?: Bitcoin has risen 7% over the past week. Trade volume in the Bitcoin network has increased by 17% over the last day. The Crypto Fear & Greed Index rebounded by 7 points during the day, switching from extreme fear to fear mode. This is quite a significant result, as the index has been extremely depressed since mid-March. The altcoins from the top ten show mixed dynamics waiting for new triggers. From the technical analysis, the bulls got the upper hand as BTCUSD closed above the 50-day average on the daily charts last week. In February 2019, the same signal flagged the start of the 4-month rally, that quadrupled the Bitcoins price. The leading altcoin Ethereum (ETH) rose over the week by more than 7%, approaching the $200 threshold. The technical picture for ETH is even more optimistic. Last week the Ethereum gained ground above the 50 and 200-day averages. Although this is not even close to the 2017 levels, the coin has returned to its growth track. And this cryptocurrency has every reason to do so, as the project is beneficial for the digital sector. Tezos (XTZ), Cardano (ADA), and Stellar (XLM) also show significant growth over the week with +16%, +25%, and +20% respectively. There are only a few weeks left before halving, but so far, the main result of such an essential event for Bitcoin approaching, is that investors are holding on to their positions. The rapid attack of $8000 could be a breath of fresh air for the first cryptocurrency and can open new horizons. However, we are witnessing only super cautious optimism among market participants. Everyone understands that central banks are desperately trying to support the economy, and they are doing so at the expense of the future. Nevertheless, Pandoras Box is open, and the unpleasant truth is that central banks and governments are only trying to put out the fire. The quarantine cannot last forever, sooner or later, everyone will have to work in the new high-risk environment before another outbreak of the disease. The question is: how many waves of the epidemic will the global economy withstand? Story continues Cryptocurrencies will likely be just as vulnerable to global threats as other assets of any kind. However, the difference may lie in the future. After all, some assets may lose their buyers forever, while others will build a new structure on the ruins. In the new economy, there will be a much larger space for purely digital projects. Of course, no one needs most of the existing cryptocurrencies. Still, given the global trend towards self-isolation and the tighter digital control, many of the current leaders in the crypto market will take their place even (and especially) after the emergence of national cryptocurrencies. by Alex Kuptsikevich, the FxPro senior financial analyst. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast Euro Runs Into Resistance Market News Report: April 27, 2020 May 1, 2020 Yes, the S&P 500 Is Climbing a Wall of Worry Right Now G10 Currencies Take Advantage as Dollar Falls U.S. Stocks To Watch This Week Crude Oil Price Forecast Crude Oil Markets Continue to Show Signs of Stress || Brave Browsers Affiliate Link Controversy, Explained: A software program that mines Monero to bail people out of jail has seen an uptick in use as protests over the police killing of George Floyd continue across the U.S. The software is called Bail Bloc and runs in the background of your computer, passively generating Monero that is then distributed to bail funds. I noticed a 20% increase in our hashrate this week as opposed to last week, Grayson Earle, who developed the Bail Bloc software, said in an email. We are dedicated as a project and as individuals to the movement for black lives, and feel that the urgency of the situation requires direct action and people should direct resources to organizations on the ground that can respond rapidly. The hash rate is the measure of how quickly the cryptographic calculations for mining are executed. The Bail Bloc hash rate is currently 94.5 KH/s, according to Earle. Bail funds are used to pay bail for those in pre-trial detention, which can last for weeks or even months otherwise. Since 1970 pretrial detentions have increased by 433%, according to research by the Center for American Progress. In 2015, more than 60 percent of the total jail population in the U.S. was made up of people held for pretrial detention, according to a study from the Vera Institute, a nonprofit that campaigns for justice system reform. In the wake of protests against police brutality more than 10,000 protestors have been arrested in the U.S. See also: Monero Hacker Group Outlaw Is Back and Targeting American Business: Report Earle originally conceived of Bail Bloc following President Trumps 2016 election as a way to address clicktivism (where people signal their fidelity to cause without doing anything about it). Monero is a leading privacy-focused coin that hides the identity of miners and Earle said Moneros mining algorithm has helped Bail Bloc. Related: Monero-for-Bail Project Sees Increased Demand During Protests The Random-X mining algorithm helped our project because most of the people running Bail Bloc on their computers are using mid-level consumer laptops without dedicated graphics cards (GPUs), said Earle. Now that GPUs and CPUs are on even grounds in terms of hashrate, we are collecting Monero at a much higher rate than before. Thus far Bail Bloc has raised over $8,000, or enough to bail out 13 people. Its next check will be going to the Immigrant Bail Fund in Connecticut. Several bail funds are accepting direct donations in cryptocurrency. The Bail Project is a national nonprofit that provides free bail assistance to thousands of low-income Americans every year, and accepts donations in bitcoin. Thus far it has secured freedom for over 10,000 people in over 20 cities across the country, working with community partners to advance systemic change. Story continues See also: Minnesota Official Alarms Privacy Advocates With Contact Tracing Comments We use the National Revolving Bail Fund to support bailouts in over 20 jurisdictions , and assistance is provided by our teams of full-time Bail Disruptors and Client Advocates, who are community-based, said Bail Project CEO Robin Steinberg. We started accepting crypto from the beginning, in no small part because Mike Novogratz, chairman of our board, is a firm believer in cryptocurrency and encouraged us. Pilar Maria Weiss, Director of the Community Justice Exchange, a non-profit, said that some bail funds that have more infrastructure accept Bitcoin but many protest bail funds are very informal and therefore only use Cash App for Go Fund Me pages. The Cash App does let users pay or donate using bitcoin though. All three bail projects recommend taking direct action as well as just donating. Get proximate to the problem, said Steinberg. Dont turn a blind eye on injustice. Speak up. Make sure your elected officials know that you will not allow these injustices to continue. Listen to the Black community. Heed the voices of those who have been most directly impacted by our criminal legal system. Related Stories Developers of Ethereum Privacy Tool Tornado Cash Smash Their Keys HTC Is Bringing Cryptocurrency Mining to Its Exodus Blockchain Phone View comments || Expecting a spike in bitcoin? Investors say it may take time: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Investors expecting a sudden surge in bitcoin's price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait a few months, or perhaps a few years.
Bitcoin traded in narrow ranges after it went through a third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5.
There were some expectations that bitcoin would soar, similar to what happened after the two previous adjustments as the "halving" effectively decreased its supply.
The virtual currency has gained 11% since the adjustment, but it had more down days than up days and analysts said technical momentum overall was negative. In contrast, bitcoin had soared more than 40% from January this year until the "halving."
On Thursday, bitcoin was at $9,783 <BTC=BTSP>. It breached $10,000 twice after the "halving" but retreated as it found tough resistance at that level.
"Bitcoin is on a see-saw, between bulls and bears," said Nicholas Pelecanos, head of trading at NEM Ventures. "On one end, we have network data and technicals; the other, strong fundamentals and a correlation to U.S. stock indices."
He added that bitcoin's network data is flashing more bearish than bullish signals, as he expects further short-term selling.
Beyond the short term though, many investors expect a price surge.
The first halving, in November 2012, catalyzed a rally for bitcoin from about $10 to $1,160 in 12 months. The second halving, in July 2016, saw bitcoin jump more than 300%, from $650 to $2,800 within the same time span.
"It may take six to 12 months for investors to reap the rewards of post-halving price movements," said Lennard Neo, head of research at Stack Funds.
"In reality, there is a significant time lag between the halving event and the establishment of renewed market equilibrium based on general supply and demand," he added.
Since miners' profits have contracted as block rewards decreased by 50%, the "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point.
Once this is found, Stack's Neo said, bitcoin is likely to realize its "halving-induced" price appreciation.
Investors are also banking on higher institutional demand to further propel the price of bitcoin. Fund flows into the biggest crypto asset managers have been robust in the midst of the coronavirus pandemic.
"When we look at institutional inflows for our products and that of another asset manager, what you're seeing are purchases that have now outstripped, for the first time, new bitcoins being created by 150%," said Danny Masters, chairman of CoinShares, with $1 billion in crypto assets.
Michael Sonnenshein, managing director at Grayscale with $4 billion in crypto assets under management, said since April the firm's bitcoin investment fund has ballooned to $3.5 billion as of June 2, from $2 billion at the end of the first quarter.
"There's a lot of momentum and interest in investing in digital currencies particularly in the face of uncertainty, the pandemic, political tensions, and the amount of stimulus being pumped into the global economy," said Sonnenshein.
James Wo, chairman of Digital Finance Group, a $500 million crypto and blockchain fund, likens bitcoin to digital gold, and as such, the digital currency has barely scratched the surface.
"Bitcoin has great potential to grow," said Wo. "Gold has an eight trillion-dollar valuation, while bitcoin has less than $200 billion dollars in valuation. It just needs more time for mainstream adoption. People need enough time to fully understand and believe in it."
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Steve Orlofsky) || HyperBlock Provides Update on Bitcoin Halving Impact on Operations: Toronto, Ontario--(Newsfile Corp. - May 13, 2020) - HyperBlock Inc. (CSE: HYPR) ("HyperBlock" or the "Company") today provided an operational update to shareholders related to the risks associated with the recent Bitcoin algorithm halving — which occurred on May 11, 2020 — and has significantly reduced Bitcoin mining compensation rewards earned by the Company.
The Company confirmed that the algorithm halving, which occurs approximately every four years to create scarcity by limiting the number of Bitcoin in circulation, has cut the Company's reward for mining each block by half. The Company cautions that this has resulted in making its operations uneconomical, based on current Bitcoin pricing, overall network hashrate, and the Company's ability to continue to access reliable, affordable power.
Electricity Provider Intends to Terminate Contract
The Company also announced that its electricity provider, Energy Keepers, Inc., has indicated that it intends to terminate its long-term power contract with the Company effective as of May 14, 2020. The Company is exploring power supply alternatives and cautions that an inability to secure power would require it to pause or cease mining operations.
The Company and its Board continue to explore strategic and financing options and will continue to provide further updates.
About HyperBlock Inc.
HyperBlock is a crypto-asset enterprise operating a North American cryptocurrency datacenter and providing complementary product offerings, which include cryptocurrency mining, Mining-as-a-Service (MAAS), server hosting, and server hardware sales, depending on market conditions. HyperBlock operates sustainably, purchasing electricity for its flagship US datacenter from a hydro-electricity generator — and employs advanced recycling technology to minimize environmental impact. Learn more atwww.hyperblock.co.
Cautionary Note Regarding Forward-Looking Information and Future-Orientated Financial Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "plan", "believe", "may", "should", "anticipate", "expect", "intend", "forecast" and similar expressions. The forward-looking information contained in this press release includes, but is not limited to, statements related to: the profitability and growth of the Company as a result of the recent deployment of Bitmain servers; the future status of the Company's current power contracts; the impacts of the Company's liquidity, debt maturities, and trade payables; and the potential revocation of the cease trade orders on the Company's securities. These forward-looking statements contained herein are made as of the date of this press release and are based on assumptions and estimates of management, which management considers reasonable, based on information available on the date hereof. Such assumptions may be incorrect. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors, among other things, include: general economic, market and business conditions will be consistent with expectations, fluctuations in general macroeconomic conditions; fluctuations in securities markets; risks relating to the Company's ability to execute its business strategy and the benefits realizable therefrom; the ability to retain personnel to execute the Company's business plans and strategies; the ability to retain auditors to perform an audit of the Company's financial statements; the presence of laws and regulations that may impose restrictions on the ability of the Company to operate its business, including securities laws applicable to the Company; the speculative nature of cryptocurrency mining and blockchain operations including but not limited to cryptocurrency prices, block rewards, and mining difficulties; and those factors described under the heading "Risks Factors" in the Company's listing statement dated July 10, 2018 and the risks described in the Company's Management's Discussion & Analysis for the year ended December 31, 2018 dated December 12, 2019, each of which is available on the Company's issuer profile on SEDAR. There may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
For more information:
Debra [email protected]
Ronald R. Spoehel, Bryan [email protected]
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/55803 || Google Chrome ad update will save users' battery life and data: Sundar Pichai, then senior vice president of Chrome, speaks at Google's annual developer conference: KIMIHIRO HOSHINO/AFP via Getty Images Google Chrome will be more active in addressing bad ads, in an attempt to save users' data, processing power, and battery life. Specifically, the company is tackling adverts which are badly programmed, cause unnecessary strain on networks, or mine cryptocurrency. Cryptocurrency ‘mining’ is the process of generating new units of digital currency such as Bitcoin by using computers to solve complex mathematical problems. Mining requires vast amounts of processing power and therefore malicious individuals have placed the code in adverts in order to use the devices viewing the ads – sometimes without the knowledge of the person whose device it is . “We have recently discovered that a fraction of a percent of ads consume a disproportionate share of device resources, such as battery and network data, without the user knowing about it” Google said in a blog post . “In order to save our users’ batteries and data plans, and provide them with a good experience on the web, Chrome will limit the resources a display ad can use before the user interacts with the ad. When an ad reaches its limit, the ad's frame will navigate to an error page, informing the user that the ad has used too many resources.” In targetting these adverts, Google found the ones that use more CPU or network bandwidth than 99.9 per cent of all adverts – meaning it should only be the most extreme ads that are hit by the new change. The experiment is coming over the next few months, the search giant says, in order to give advertisers and tool providers time to adjust to the changes and limitations. The plan is that a stable version of this technology will come to Chrome in August. An ad that has been 'unloaded' for draining your battery or data (Credit: Google) This is not the only update that Google has recently made to its Chrome browser. The company announced that it is rolling out a feature whereby users can group tabs by name, coloured labels, or emoji to better organise how users view websites. Read more READ MORE Google Meet goes free as fight for group chats continue || Chinese Chip Maker With a Hand in Crypto Mining Plans $2.8B IPO: Semiconductor Manufacturing International Corporation (SMIC), one of the largest computing chip producers in China, plans to raise $2.8 billion through an initial public offering on the Sci-Tech Board of the Shanghai Stock Exchange (SSE). The exchange has accepted SMICs application, according to a document filed Monday with the Hong Kong Stock Exchange (HKEX), where it is already listed. The company said part of the proceeds will be focused on developing 14nm chips, which will be used for crypto mining. The move comes just two months after the company announced a partnership with crypto miner maker Canaan Creative. The two companies plan to develop a mining machine for an undisclosed cryptocurrency with a relatively small market cap, rather than bitcoin due to current technical limitations. Read More: Canaan Reports $5.6M Loss in Q1 Despite Bitcoin Miner Price Cut SMICs chip-making capabilities still lag behind Bitmains major chip supplier, Taiwan Semiconductor Manufacturing Company (TSMC), as well as Samsung, which works closely with Whatsminer and MicroBT. For example, Samsung has announced its intention to mass-produce 8nm chips in the first quarter, while TSMC is developing 5nm chips. Founded in mainland China in 2000, SMIC could be one of Chinas best hopes to advance its chip-making technologies and become less dependent on manufacturers that have deeper connections with the U.S. government amid increasing tension between the two countries. Strong support from the Chinese government can put SMIC on the fast track to catch up with its competitors. The company has received substantial financial windfalls since the U.S. put forward new restrictions that could limit chip-makers such as TSMC and Samsung from manufacturing chips for Chinese tech conglomerate Huawei. Related: Chinese Chip Maker With a Hand in Crypto Mining Plans $2.8B IPO Read More: Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving Story continues The Sci-Tech Innovation Board of the SSE, where SMIC wants to go public, went live last June in Shanghai. The new market is touted to be part of Chinas capital market reform and support technology companies that are in line with national strategies. SMIC also received a $2.2 billion investment in May from National Integrated Circuit Industry Investment Fund II and Shanghai Integrated Circuit Industry Investment Fund II, which are two of the largest national investment funds. The government fund came as the U.S. Department of Commerce expanded a restriction known as the Foreign Direct Product Rule to make it harder for China to import chips from Samsung and TSMC. It also cut off chip supply to Huawei in May, while setting up a new plant in the U.S. Related Stories Bitcoin Miner Maker Ebang Files for a $100M US IPO CEO Says BlockFi Is Lending to Crypto Miners as Other Providers Pull Back || Expecting a spike in bitcoin? Investors say it may take time: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors expecting a sudden surge in bitcoin's price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait a few months, or perhaps a few years. Bitcoin traded in narrow ranges after it went through a third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. There were some expectations that bitcoin would soar, similar to what happened after the two previous adjustments as the "halving" effectively decreased its supply. The virtual currency has gained 11% since the adjustment, but it had more down days than up days and analysts said technical momentum overall was negative. In contrast, bitcoin had soared more than 40% from January this year until the "halving." On Thursday, bitcoin was at $9,783 <BTC=BTSP>. It breached $10,000 twice after the "halving" but retreated as it found tough resistance at that level. "Bitcoin is on a see-saw, between bulls and bears," said Nicholas Pelecanos, head of trading at NEM Ventures. "On one end, we have network data and technicals; the other, strong fundamentals and a correlation to U.S. stock indices." He added that bitcoin's network data is flashing more bearish than bullish signals, as he expects further short-term selling. Beyond the short term though, many investors expect a price surge. The first halving, in November 2012, catalyzed a rally for bitcoin from about $10 to $1,160 in 12 months. The second halving, in July 2016, saw bitcoin jump more than 300%, from $650 to $2,800 within the same time span. "It may take six to 12 months for investors to reap the rewards of post-halving price movements," said Lennard Neo, head of research at Stack Funds. "In reality, there is a significant time lag between the halving event and the establishment of renewed market equilibrium based on general supply and demand," he added. Since miners' profits have contracted as block rewards decreased by 50%, the "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point. Once this is found, Stack's Neo said, bitcoin is likely to realize its "halving-induced" price appreciation. Investors are also banking on higher institutional demand to further propel the price of bitcoin. Fund flows into the biggest crypto asset managers have been robust in the midst of the coronavirus pandemic. Story continues "When we look at institutional inflows for our products and that of another asset manager, what you're seeing are purchases that have now outstripped, for the first time, new bitcoins being created by 150%," said Danny Masters, chairman of CoinShares, with $1 billion in crypto assets. Michael Sonnenshein, managing director at Grayscale with $4 billion in crypto assets under management, said since April the firm's bitcoin investment fund has ballooned to $3.5 billion as of June 2, from $2 billion at the end of the first quarter. "There's a lot of momentum and interest in investing in digital currencies particularly in the face of uncertainty, the pandemic, political tensions, and the amount of stimulus being pumped into the global economy," said Sonnenshein. James Wo, chairman of Digital Finance Group, a $500 million crypto and blockchain fund, likens bitcoin to digital gold, and as such, the digital currency has barely scratched the surface. "Bitcoin has great potential to grow," said Wo. "Gold has an eight trillion-dollar valuation, while bitcoin has less than $200 billion dollars in valuation. It just needs more time for mainstream adoption. People need enough time to fully understand and believe in it." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Steve Orlofsky) View comments || Square (SQ) Reports Q1 Loss, Surpasses Revenue Estimates: Square, Inc. SQ reported first-quarter 2020 adjusted loss of 2 cents per share, which compares unfavorably with the Zacks Consensus Estimate of earnings of 13 cents per share. Notably, the company reported earnings of 11 cents and 23 cents in the year-ago quarter and prior quarter, respectively. Accumulating reserves for transaction and loan losses owing to the expected impact from coronavirus pandemic on losses in future resulted in loss during the reported quarter. Net revenues of $1.38 billion surpassed the Zacks Consensus Estimate by 5.8%. Further, the figure came ahead of the revised guided range of $1.30-$1.34 billion. The top line also improved 44% from the year-ago quarter and 5.1% sequentially. The top line was driven by Seller ecosystem that contributed $853 million to net revenues, up 16% year over year. Further, robust performance of Cash App, which generated $528 million of net revenues, up 197% year over year, was a major positive. Furthermore, strengthening momentum across Bitcoin and strong adoption of Cash Card contributed to the results. Additionally, continued acceleration in gross payment volume (GPV) aided the results. Notably, the company completed the divestiture of Caviar to DoorDash at the end of October 2019. Caviar had been underperforming and consequently its sale remains a major positive. Excluding Caviar, net revenues would have exhibited growth of 51% on a year-over-year basis. Shares of the company fell 4.2% in the pre-market trading following the first-quarter loss owing to increasing reserve in order to combat the impact of COVID-19. On a year-to-date basis, Square has returned 8.9%, underperforming the industrys rally of 12.6%. Square has refrained from providing guidance for the ongoing quarter and the full year 2020. This can be attributed to the uncertainties related to COVID-19, which are expected to act as headwinds during the second quarter. The company has put a temporary stop on subscription billings and waived subscription fees on software for sellers. This is likely to hurt subscription revenues in the second quarter. Nevertheless, growing adoption of contactless payment mode remains positive. Further, seller GPV from card-not-present transactions is expected to gain steam. Additionally, growing momentum across peer-to-peer volumes, Cash Card spend, Cash Card orders, direct deposit transacting active customers and bitcoin volumes are likely to sustain revenues generated by Cash App. Gross Payment Volume GPV in the first quarter amounted to $25.7 billion missing the Zacks Consensus Estimate of $26.7 billion. Notably, the figure improved 14% year over year on the back of the companys continued momentum across the larger sellers. Square defines larger sellers as those that make more than $125,000 of annualized GPV and mid-market sellers as those with annualized revenues of more than $500,000. GPV from larger sellers contributed 52% to total GPV. This can be attributed to Squares robust product portfolio and comprehensive ecosystem that aided it in attracting new sellers to its platform while retaining the existing ones. Notably, the company witnessed 29% year-over-year growth in GPV during the January 2020 to February 2020 time period. However, the growth started slowing down since mid-March due to the rapidly spreading COVID-19 that impacted the seller business negatively. Seller GPV declined 49% on a year-over-year basis in the last week of the first quarter. Nevertheless, strong performance of Square Online Store owing to coronavirus-induced growing transition rate of sellers to online commerce from in-person sales mode drove GPV growth. Further, solid GPV generated from eGift Cards remained a positive. Story continues Square Inc Price, Consensus and EPS Surprise Square Inc Price, Consensus and EPS Surprise Square Inc price-consensus-eps-surprise-chart | Square Inc Quote Top-Line Details Transaction (54.9% of net revenues): The company generated transaction revenues of $758.1 million, up 15.4% year over year. Strong payment volume contribution from existing and new sellers during the first two months of the reported quarter drove the categorys top line. The company witnessed softness in transaction revenues during last two weeks of the first quarter owing to coronavirus pandemic. Subscription and services (21.4% of revenues): The company generated $296.2 million revenues from this category, surging 34.9% from the year-ago quarter. This improvement can be attributed to the strong performance by Cash App, which contributed $222 million to the categorys top line. Further, solid momentum across seller subscription and services products remained positive. Additionally, Square Capital, which facilitated 75,000 loans worth $548 million, up 8% from the year-ago quarter, contributed to the results. However, performance of Square Capital was also impacted by COVID-19. Hardware (1.5% of revenues): Square generated revenues of $20.7 million from this business, up 13.5% year over year. The categorys top line was primarily driven by robust Square Terminal. However, COVID-19 hurt the hardware unit sales. Bitcoin (22.2% of revenues): The company generated revenues of $306.1 million from this category, up a whopping 367.1% on a year-over-year basis. Square continued to benefit in the bitcoin space driven by growing adoption of Cash App. Notably, without bitcoin revenues, Cash App revenues would have come in at $222 million. The company witnessed growth in the transacting active bitcoin customer base owing to fall in bitcoin prices. Operating Details Per management, gross profit grew 36% from the year-ago quarter to $538.5 million. As a percentage of net revenues, the figure came in 38.9%, contracting 240 basis points (bps) year over year. While Transaction, Subscription and services and Bitcoin generated profit, Hardware category reported loss during the reported quarter. Further, coronavirus pandemic remained a woe. Adjusted EBITDA as a percentage of net revenues was 0.7%, contracting from 6.4% in the year-ago quarter. Operating expenses came in $628.8 million, surging 50.1% from prior-year quarter. Product development expenses were $194.9 million, up 26% year over year, primarily owing to growing engineering, data science and design personnel costs. General and administrative expenses were $129.5 million, up 27% from prior-year quarter. This can primarily be attributed to finance, legal and support personnel costs. Further, sales and marketing costs were $194.5 million, up 45% year over year, due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances. Balance Sheet As of Mar 31, 2020, cash and cash equivalents balance was $1.96 billion, up from $1.05 billion as of Dec 31, 2019. Short-term investments were $521.8 million in the reported quarter, down from $492.5 million in the previous quarter. Long-term debt was $1.8 million, increasing from $938.8 million in previous quarter. Zacks Rank & Key Picks Square currently has a Zacks Rank #3 (Hold). ASE Technology Holding Co., Ltd. ASX, Twilio Inc. TWLO and InterDigital, Inc. IDCC are some better-ranked stocks worth considering in the broader computer and technology sector, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 Rank stocks here . Long-term earnings growth rate for ASE Technology, Twilio and InterDigital is pegged at 26.63%, 26.61% and 15%, respectively. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report InterDigital Inc (IDCC) : Free Stock Analysis Report Advanced Semiconductor Engineering Inc (ASX) : Free Stock Analysis Report Square Inc (SQ) : Free Stock Analysis Report Twilio Inc (TWLO) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
India's rupee restrictions are boosting demand for bitcoin: Indian Prime Minister Narendra Modi's decision to withdraw 500 and 1000 rupee notes from circulation has sparked interest in bitcoin among India's consumers.
Following last week's announcement thatthe notes were no longer legal tender, sales volumes for bitcoin increased on several exchanges for the digital currency, according to The Hindustan Times.
The announcement by the Indian government was an attempt to crackdown on corruption and "black money", but following the movement, internet searches for the term "buy bitcoin" increased in popularity, according to Google Trends data.
Other signs of increased interest include downloads of the smartphone app for bitcoin exchange Zebpay, which passed a threshold of 100,000 downloads.
"Queries for bitcoins have gone up by 20 percent to 30 percent in the past couple of days," Zebpay's CEO, Saurabh Agrawal, told the Hindustan Times.
As a result of the increased demand, the premium paid for rupee-denominated bitcoin has widened.
One bitcoin on the Indian exchange Unocoin is worth 55,405 rupees, or $817.97, at the time of writing. Dollar-denominated bitcoin currently costs around $709.
According to Charles Hayter, CEO and founder of Crypto Compare, the premium at the start of September was just $20, or around 3 percent.
"Bitcoin is a sanctuary in emerging markets where knee jerk policy reactions are commonplace - India's move on high value bank notes is just the latest in a string of poorly communicated & executed judgments," he told CNBC via email.
"Bitcoin was trading at a $20 dollar premium in India at the beginning of September and now is trading at a $70-100 premium to the USD rate."
One reason for the increased demand may be due to Indians who are frustrated by the government's decision and are now looking for a way to store their wealth that is (theoretically) out of Dehli's reach.
"The Indian rupee, like all other government currencies, is a fiat currency. It exists through the fiat - order - of the government," explained Jacob J, a writer for The CoinTelegraph.
"As seen in the recent instance, its existence can also be terminated through an order from the government. With the passage of time, Bitcoin's superiority as a currency is becoming more and more apparent."
India has been slow to start using digital currencies. The amount of bitcoin traded per day in India is a fraction of other countries, according to Linus Lindgren, strategic investor and advisor at BTCXIndia.
"I would estimate the average traded volume in India to be around 500btc/day, which is less than 1 percent, maybe even 0.1 percent, of global volumes," he told CNBC via email.
"We have certainly seen a larger interest than ever before in the last weeks, but in contrast to centralised systems, where money can be made worthless over night, a decentralised currency like bitcoin is opt-in, meaning that this revolution will come gradually as more and more people start seeing the benefits and switch."
Follow CNBC International onTwitterandFacebook. || Payments In The Marijuana Industry: How Blockchain Can Increase Profit And Security: Blockchain was born with the bitcoin, conceived as a way to make databases secure but not managed by one single person. This allows “people who do not know or trust each other [to] build a dependable ledger,” an article fromThe Economistexplained.
As the technology evolved and became more programmable, other applications like tracing a product’s identity/authenticity were found for it. In some cases, blockchain technologies have even managed to replace banks and services like those offered byPaypal Holdings Inc(NASDAQ:PYPL),Moneygram International Inc(NASDAQ:MGI) orThe Western Union Company(NYSE:WU), making transactions faster, cheaper and more secure.
Related Link:You're So Money: NY Judge Rules Bitcoin Qualify As "Funds"
“While software reduces global inequalities through intellectual capital, the blockchain today is helping to reduce global inequalities through financial capital,” Forbes contributor Jonathan Chester explained in arecent piece.
The Marijuana Industry
The legal marijuana industry often finds big hurdles in the banking system; afraid of federal regulators and the money laundering risk derived from such a cash intensive space, most banks don’t want to open accounts for these companies. In this vacuum, a few companies have come up with creative solutions.
For instance,Tokken, provides online banking services to companies in the emerging marijuana industry. As per their site, they offer “safe payment methods to consumers, and a robust compliance platform to partner banks... [eliminating] the risk of money laundering by creating a virtual barrier to cash transactions.”
“Using an indelible Blockchain ledger to ensure data integrity and a proprietary compliance program based on structured analytic techniques, Tokken is designed to comply with every relevant regulatory requirement and provide a sustainable banking solution for the cannabis,” the site added.
CEO Lamine Zarrad recently sat down with Chester and explained that operating in cash costs the marijuana industry between 20 and 25 percent of its revenue. “This is typically lost through the costs of security, storage and shrinkage, a euphemism for employee theft,” he stated. “In order to get cash back into the banking systems, Marijuana companies will work with holding companies that will hold funds on behalf of the dispensary, which the dispensary can then access. In order to get funds into the accounts, these dispensaries need to hire groups of runners who take the cash to ATMs throughout the city to deposit cash in small batches.”
But, how can the company achieve this without recurring to a bank?
Related Link:Reads For The Weed-Kend: Franchising, Canada And Snoop Dogg, Damian Marley's Cannabis Prison Venture
As Chester expounded, blockchains were created specifically to avoid banks while still meeting most audit requirements — as each transaction is both public and protected from “book-cooks.” Tokken, for example, notarizes its transactions via Tierion, a platform that “puts an immutably cryptographic summary of business records on the blockchain, which permits verification while maintaining customer privacy,” Chester concluded.
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Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.
See more from Benzinga
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Microsoft and BAML to Test Blockchain for Trade Finance: Microsoft CorporationMSFT and Bank of America Corporation’s BAC corporate and investment banking division, Bank of America Merrill Lynch (‘’BAML’’) have teamed up to implement blockchain technology in trade finance to facilitate faster, safer, cheaper and more transparent transactions.
The main objective of the collaboration is to develop and test blockchain technology before commercializing it.
We note that Microsoft’s very own cloud-based platform Azure will be utilized to test the project.
What is Blockchain?
Simply put, a blockchain is a chain of blocks, where each block represents an electronic record that cannot be revised or tampered with once it is included in the chain. Additionally, each block has its own timestamp and a link to an earlier block in the chain, which enables all the parties to have easy access to information via a secure network.
Benefits of the Blockchain
Speed:Having its origins in Bitcoin (the digital currency), the blockchain technology is believed to speed up all types of transactions as there is no need for manual processing or authentication by intermediaries.
Security:Currently trade transactions take anywhere between 7 to 10 days to complete and are vulnerable to document frauds as they involve paper trails that are often complicated. Blockchain does away with all that fuss.
Chronology:Each block in the chain is connected to an earlier block and has its own timestamp that facilitates easy record keeping in a chronological manner.
Our Take
We note that businesses throughout the world are gradually making the switch to digitization in a bid to remain competitive, agile and drive growth and blockchain could prove to be the tool to facilitate the transformation.
Though the technology is still at a nascent stage, this is not the first time that it will be tested. Per some media reports, Barclays PLC BCS and a start-up based in Israel announced this month that they have successfully deployed blockchain technology to carry out a real-world trade deal that is a first of its kind.
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Zacks Rank & Key Picks
At present, Microsoft carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology space is Avid Technology, Inc. AVID, sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
We note that the estimates for Avid for 2016 and 2017 have remained steady at $2.08 and $1.60, respectively over the last 7 days.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportBANK OF AMER CP (BAC): Free Stock Analysis ReportBARCLAY PLC-ADR (BCS): Free Stock Analysis ReportMICROSOFT CORP (MSFT): Free Stock Analysis ReportAVID TECH INC (AVID): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin Services Inc. to Develop Online Marketplace Where Bitcoin Can Be Exchanged for Goods & Services: GRANDVILLE, MI / ACCESSWIRE / October 13, 2016 /Bitcoin Services Inc., (OTC Pink: BTSC) announced today that it plans to develop an online marketplace where bitcoin can be exchanged for goods & services. Some of the goods will include real estate, cars, apparel, and electronics. The services will include plumbing, catering, and delivering. The advantages of users paying in Bitcoin is being able to send and get money anywhere in the world at any given time. Payments in Bitcoin can also be made and finalized without one's personal information being tied to the transactions. Due to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft. Furthermore, Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure. In addition, there are currently either no fees, or very low fees within Bitcoin payments.
About Bitcoin Services Inc.:Our business operations are Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, providing escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
Contact:
[email protected]
SOURCE:Bitcoin Services Inc. || Indian bitcoin company raises $1.5 million from U.S., Indian investors: NEW YORK, Sept 29 (Reuters) - Unocoin, a Bangalore-based bitcoin startup, has raised $1.5 million in funding from a mix of Indian and U.S. investors, the company announced on Thursday.
The company, which runs a trading platform to buy, sell, and store bitcoins for Indian customers, said the money raised was the largest for an Indian bitcoin startup. Unocoin, which has 100,000 users and more than 30 employees, has been in operation since December 2013.
Unocoin describes itself as the Coinbase of India. San Francisco-based Coinbase is the largest U.S. bitcoin company and runs an exchange and a wallet service, among other businesses.
Funding came from Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to the Future, and FundersClub.
Digital Currency Group was founded by one of the top U.S. bitcoin investors Barry Silbert, while Boost VC is run by U.S.-based Adam Draper, the son of billionaire entrepreneur Tim Draper.
"We needed a separate exchange for India. A few years ago when we wanted to buy bitcoin, there was nothing available in India," Sunny Ray, Unocoin's co-founder and president told Reuters in an interview.
"So if you want to buy bitcoin from an international exchange, you will have to do a wire transfer from India to these international exchanges and get your bitcoin and oftentimes it takes three to five days."
Unocoin raised about $200,000 in its first financing round. It started from a small hometown called Tumkur, near Bengaluru.
Bitcoin, a digital currency, was trading at $604.50 on the Bitstamp platform.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || THMiners Release 2 New CryptoCurrency Miners: MOUNTAIN VIEW, CA / ACCESSWIRE / October 14, 2016 / THMiners Inc. ( www.THMiners.com ) has officially launched two new, highly powerful miners for Bitcoin and Litecoin, two of the leading cryptocurrencies in the world. The company has developed the minersBitcoin Miner 60/THs and Litecoin Miner 1200MH/sto enable users to more easily process digital transactions and quickly monitor the release of new digital coins. Each miner retails at $3,000 and comes with all of the necessary equipment, including the control unit, cabling and casing, making it fast and easy to set up and operate. "We are absolutely thrilled to launch these two new cryptocurrency miners and make them available to people located all around the world," said David Treeman, CEO of THMiners. "Our top priority is to make sure our products allow users to make the most out of the digital currency revolution that continues to grow on a global level." THMiners's new Litecoin Miner 1200 MH/s comes with the ability to mine both Litecoin and a variety of other cryptocurrencies across the globe. Both miners have undergone comprehensive testing throughout multiple stages of their manufacturing processes, ensuring the highest standards of quality possible. The company, based in California, has a team of specialists on staff with years of experience working closely with both Bitcoin and Litecoin hardware. In creating its cryptocurrency miners, the team uses only top-quality materials and components, making the products highly durable and long-lasting for users. THMiners only accepts payment in Bitcoin, provides an extended 5-year warranty to cover any types of failure in its products and offers free shipping to anywhere in the world via UPS or FedEx. Bitcoin and Litecoin have risen significantly in popularity over the past several years, with one Bitcoin currently worth about $600 U.S. dollars. Litecoin is now worth a more modest four U.S. dollars, but has been gradually on the rise since its launch in 2011. In fact, retailers, financial institutions and members of the public are increasingly viewing these cybercurrencies as viable alternatives to more traditional forms of money, which are vulnerable to socioeconomic and political shocks occurring with greater frequency worldwide. Story continues THMiners aims to deliver high-tech solutions for effectively and profitably mining cryptocurrencies, using proprietary components rather than sourcing them from outside parties. All of its hardware, including the chips that run its miners, is manufactured at the company's partner facilities in Asia. This gives THMiners the ability to maintain quality while offering its products at affordable prices. For more information on THMiners and its new cryptocurrency miners, please visit http://www.THMiners.com . SOURCE: THMiners Inc. via Submit Press Release 123 || Blockchain could soon power stock markets, music sales, and even prevent child labor — here's how it works: (.)
It's a technology conceived by the mysterious creator ofbitcoin— the digital currency championed by a motley crew of privacy-obsessed libertarians, social activists, and some criminals.
(AP Photo)
Now the idea of blockchain has gripped Wall Street's biggest institutions.
Its enthusiasts think it could change the world. Sure, it would make contracts more enforceable and speed up the settlement of stock trades — hence the interest from big banks. But some see it going much further, cracking down onsex trafficking, music piracy, and child labor.
And the key to all that — what attracts these different factions — is something that, on the surface at least, sounds rather banal: a digital ledger, like the one in your checkbook.
"Blockchain is a truly extraordinary technology that does really mundane things," said Paul Brody, Ernst & Young's global blockchain leader.
But for all the promise, these big questions remain: Who will foot the bill, and is it really as secure as supporters say?
In the non-blockchain world, we keep separate records of transactions. If you write your friend a check, you balance your own checkbook and your friend does the same when they deposit it. But things can go wrong. They might forget to update their checkbook ledger. And each bank has no way to know immediately if the person has enough in their bank account to cover it.
(Flickr / oblivion9999)
With a blockchain, instead of two separate checkbooks with two records of debits and credits, you'd both look at the same ledger of transactions. It's private (encrypted, in computer-speak), and decentralized, so neither of you controls the ledger.
This "distributed ledger" operates on consensus. Both of you can look at the ledger. Each transaction gets put into a block. If you both say that block is valid and correct, it's added to a chain. And that chain is protected by sophisticated cryptography: No one can change the chain after the fact.
Now imagine this in a more complex form. This is what gets people in finance and technology excited.
Say you want to buy a stock. Right now, your bank, brokerage, the stock exchange, and the company you're buying all have separate, private records of transactions. They can't see each other's ledgers. Nor can they verify that everything is accurate among all involved.
With blockchain, they can all be on the same page — literally.
Your bank can verify that you have enough money to transfer to your brokerage. That transfer is added to the ledger of transactions that everyone involved can see. Then your broker executes a trade for 100 shares. That gets added to the blockchain, too. Everyone involved verifies it's legitimate.
The exchange receives the order — also added and verified. And then the company's shares end up in your account. You could see the record of all the shares you buy and sell in the permanent record. If you decide to sell the shares later, that transaction gets added to the blockchain.
And because it's a consensus model in which every party confirms a transaction, "it gets more secure the more people you add" to the blockchain, Brody said. "When a transaction is completed, everyone has to get a copy of the transaction."
That's blockchain in its purest form. In reality, however, different companies are experimenting with different forms. A blockchain used in financial services could be private, or a hybrid model between the decentralized vision and a more traditional centralized model that bankers are used to. A regulator, for instance, could hold the key to a blockchain, and some companies are thinking about how to maintain a middleman.
No one knows who invented blockchain. The idea for it came from apaper published online eight years agothat unveiled bitcoin, the digital currency. The author, Satoshi Nakamoto, is thought to be using a pseudonym. The true identity remains a mystery, and there's debate over whether it was created by an individual or group.
At first, bitcoin got all the attention. The idea of a secure, private currency, divorced from a specific government, captured the imaginations of technologists, libertarians, and people concerned about the power of big banks and government regulation. Bitcoin transactions occur peer-to-peer, meaning no government or third party is involved.
(Goldman SachsYouTube/Goldman Sachs)
Today, bitcoin and blockchain still attract privacy-minded and antigovernment types. But it also increasingly appeals to people like Grainne McNamara. She spent years building out technology at banks like Morgan Stanley and Goldman Sachs. Now she's a leader of PricewaterhouseCooper's blockchain for financial services. And that means she spends a lot of time attending and hosting blockchain conferences.
At one, a speaker showed a picture of a shed in his presentation. McNamara remembers him jokingly saying, "Take the bankers behind the shed and kill them." He didn't know his audience.
McNamara was sitting next to former bankers, who found the whole thing humorous, she said.
Despite the shed metaphor, "it's a peaceful cohabitation," McNamara told Business Insider. "People genuinely appreciate the disruptive element to spawn innovation."
One area blockchain proponents get excited about is the idea of a "smart contract." While most bank agreements are still paper documents — banks are awash in paper, even in 2016 — a smart contract is a computer program that helps keeps everyone accountable.
(People play a video game on the stand of Acer at the IFA Electronics show in Berlin, Germany, Sept. 2, 2015.Reuters/Axel Schmidt)
Let's say you're a company that designs and sells video game consoles. You work with suppliers and shipping companies, and have a number of serious concerns. You want to make sure they're manufactured well and on time. You want to make sure there are no labor violations, such as children working on the assembly line. And you want to make sure everyone gets paid on time.
In the old way of doing things, numerous contracts might be involved to manufacture one video game console. And each side may have its own paper copies.
Smart contracts provide automated accountability.
(Samantha Lee / Business Insider)
Because this is blockchain, everyone involved looks at the same contract; no one can change it without the permission of most others.
Here's an example: When a truck picks up finished video game consoles from a factory in, say, China, the shipping company scans each box. Those are added to the blockchain, triggering a release of funds from the video game company's bank account. No one has to invoice and chase a payment.
"You can marry up the delivery and payment of services," Brody said.
It can go beyond getting paid, too. Each worker on the assembly line could scan their identification card, which is then verified by multiple sources such as government agencies and third-party auditors, ensuring the workers are not underage or overworked. And because it's a blockchain, no one can alter the record later.
Some have discussed blockchain as a possible tool to help prevent sex trafficking and other scourges. And there are other uses for it that may become big parts of our lives.
(Samantha Lee / Business Insider)
Smart contracts in healthcare could do things such as trigger an insurance payment to a doctor when a patient undergoes a CT scan.
A blockchain could also be a secure place to store electronic medical records.
It would detail all patient-doctor communication, illness and treatment information, vaccination records, medical bills etc. Every subsequent doctor visit or treatment would be added to the blockchain, including those in different cities and countries, creating a complete, historical record of the patient's health.
In this case, the blockchain is private, and only certain participants would have the encryption keys to see the record.
Musicians may wish there had been blockchain when Napster undermined music sales around the turn of the century through file-sharing.
(Blockchain could prevent music piracyFlickr/Kelsey)
Now some are thinking blockchain could prevent piracy and help boost sales. Artists could provide their music directly off a ledger, and smart contracts might ensure the right people are paid and only those with rights play the tracks.
A similar model could help fund news outlets and other media organizations.
Some companies' whole job is tracking down property records. Blockchain could change that.
If property deeds were on a blockchain, the other participants (known as "network nodes") that validate the transaction could be real-estate agents, financing banks, and a land registry authority.
Once the transaction is validated, it is added to the blockchain, and the updated state of the blockchain is broadcast to the participants in real time. As the blockchain maintains the history of all transactions, the entire history of the property and its owners is on the blockchain.
The Australian Securities Exchange — ASX — plans to decide by mid-2017 if it will replace its post-trade clearing and settlement systemwith a blockchain version. This could be a turning point for blockchain and potentially a catalyst for widespread adoption.
(Bank of EnglandJim Edwards)
Central bankers are also getting in on the action. The Bank of England and the People's Bank of China are discussing issuing their national currencies — the pound and the renminbi, respectively — on blockchain. If successful, the technology would make the currencies more traceable, allowing the banks to track them through the financial system in real time.
Right now, this use of blockchain is limited to discussion and research papers, but if implemented, other central banks are likely to follow suit. The US Federal Reserve is closely following developments as well, with Fed Gov. Lael Brainard in charge of keeping an eye on the new technology.
It's also rumored that other items such as diamonds, art, and food could be put on blockchain so the entire history of the items could be traced.
There are over120 blockchain projectsspanning a variety of industries, and theannual budget for blockchain initiativesin 2016 is estimated to be $1 billion.
In financial services, Goldman Sachs, JPMorgan Chase, and Bank of America are among the big names that have partnered withR3, a startuptrying to bring blockchain technology to the finance world.
But if blockchain is going to work, it needs an industrywide standard. For the first bank to adopt this digital system and overhaul existing infrastructure, it could mean a risky and expensive investment, and that bank would have to hope others follow suit. No one wants to be the first to test that theory.
That's why this is one of the few cutting-edge technologies that is generating a lot of talk but not a lot of action among banks. While they are dabbling in the technology, attending conferences and partnering with R3,no bank is taking the leadand going from proofs of concept to using it in the real world.
"To get the true value, you need the network effect," said Graham Warner, head of global transaction banking product development in the Americas at Deutsche Bank. The more people and companies use blockchain, the more valuable the technology becomes.
For all its promise, some major impediments could prevent blockchain's widespread deployment, including regulation, cost, and security issues.
Implementing and standardizing blockchain could cost in the billions of dollars, and it would mean an overhaul of legacy systems that people are used to and understand. Today's technology works, and replacing it with something unproven is seen as an expensive risk.
Blockchain technology would also potentially mean a huge number of job losses, especially in middle- and back-office functions. Banks would have to get the remaining employees up to speed on the new technology, and using it would initially be a trial-and-error process.
(Ethereum)
In August, hackers stole $72 million worth of bitcoin from accounts at the Hong Kong cryptocurrency exchange Bitfinex. And in June, hackers stole $55 million worth of ether, a bitcoin rival. The nonprofit that runs ether, Ethereum Foundation, just rolled back the chain. It's as if the hack never took place, and business returned to normal. But that worries purists.
The Ethereum hack — and the response to it — led Accenture tocreatean "editable blockchain model," to "resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues," according to anews release.
Blockchain enthusiasts say this threatens the very nature of the blockchain itself. One of the fundamental benefits of blockchain technology is its immutability — the blockchain represents a "golden record" of transactions, a complete, historical record that technically cannot be interfered with or undone.
But there "isn't one blockchain to rule them all," Warner said. "It will be an evolutionary, Darwinian process" to figure out which version of the blockchain applies to which use case.
When McNamara learned about blockchain, she said she was "a little bit of a skeptic. But I've been proven wrong."
The ecosystem is evolving, she said, and people involved, whether they're activists or bankers, are getting together and talking about "shared values and pain points."
(ASXAP)
While some big players like the ASX may be using some form of blockchain as early as next year, some issues are holding blockchain back.
Different versions of blockchain are in development, and there's little agreement on what's the best or purest version to deploy. And dozens of startups are working on their own takes on blockchain. Innovation is happening, but all the competing ideas makes big companies cautious to commit to any one type.
But most proponents think everything will be worked out in due time, and that in the next few years, blockchain and its smart contracts would improve our lives, even if it operates quietly in the background, invisible to most people.
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• Amazon Prime members have access to one of the best smartphone deals out there right now || Traders take their position on bank stocks ahead of earnings: The " Fast Money " traders weighed in on the bank stocks ahead of earnings reports from Citigroup (NYSE: C) , Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) before the market open on Friday. Trader Brian Kelly said he's keeping an eye on the financial sector, but thinks the "banks are a sell here." Trader Tim Seymour disagreed and said investors should be looking at the banks and find companies with relatively "pristine balance sheets" and "earnings power." Trader Karen Finerman said she likes the valuation of the banks at current levels. Disclosures: TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM KAREN FINERMAN Karen is long AAL, BAC, C, DAL, long DB calls, short DB preferred, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International. BRIAN KELLY Brian Kelly is long Bitcoin, DXJ, US Dollar UUP. He is short the euro and Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. The Winklevoss brothers, identical twins, had filed their first application for a bitcoin ETF called Winklevoss Bitcoin Trust three years ago. Investors have shown keen interest in the Winklevoss ETF. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. According to the amended filing, State Street will provide the fund administration and accounting services, including calculating the bitcoin trust's net asset value (NAV). Another major change involved the ETF's custodian, Gemini Trust Company, doing monthly "proof of control" exercises and publishing the reports on the ETF's website. "Custodian's cold storage system was purpose-built to demonstrate "proof of control" of the private keys associated with its public bitcoin addresses," the filing said. "The sponsor and the custodian have engaged an independent audit firm to verify that the custodian can demonstrate "proof of control" of the private keys that control the Trust's on a monthly basis." Burr Pilger Mayer, based in San Francisco and known for working with venture-backed digital currency companies, has been named the ETF's auditor, the filing said. In addition, the SEC filing said Gemini's daily auction price at 4 p.m. EDT will now be used to price the NAV of the ETF. The previous pricing mechanism was the Gemini spot price. Gemini runs a digital currency trading venue. Since its launch in September, the Gemini auction has transacted more than 19,00 bitcoin on average per business day, which represents more than 16 percent of all U.S.-based bitcoin exchange volume during the 4 p.m. period, Gemini said on Tuesday. The daily auction along with Gemini's expansion has increased the company's market share to about 9 percent of all U.S. dollar-denominated exchange-traded bitcoin volume. Story continues The ETF would trade under the ticker symbol COIN. Late on Tuesday, bitcoin traded at $632.88 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programs which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis)
[Random Sample of Social Media Buzz (last 60 days)]
$609.00 at 05:30 UTC [24h Range: $607.30 - $610.50 Volume: 2800 BTC] || $611.84 at 00:15 UTC [24h Range: $606.60 - $612.98 Volume: 2288 BTC] || Bitstamp: $736.00
Bitfinex: $739.25
Coinbase: $739.62
Get a #Bitcion loan today https://goo.gl/smQBq1
#btc #FreeBitcoin || 1 KOBO = 0.00000323 BTC
= 0.0020 USD
= 0.6090 NGN
= 0.0278 ZAR
= 0.2024 KES
#Kobocoin 2016-09-30 12:00 pic.twitter.com/CVKwQT0nwG || $627.01 at 15:00 UTC [24h Range: $624.22 - $638.04 Volume: 4044 BTC] || 1 KOBO = 0.00000217 BTC
= 0.0015 USD
= 0.4560 NGN
= 0.0215 ZAR
= 0.1525 KES
#Kobocoin 2016-11-13 06:00 pic.twitter.com/B9IyGXkHUL || $713.00 at 04:15 UTC [24h Range: $694.71 - $713.00 Volume: 2115 BTC] || 1 #Bitcoin = $11975.00 MXN | $620.92 USD #bitAPeso 1 USD = 19.29MXN Vía bitapeso || Abu Dhabi Bitcoin 800% ROI in 1 day,single mom finances. http://ow.ly/QNxP305o6vN || $757.00 #quoine;
$746.17 #bitfinex;
$744.73 #itBit;
$745.81 #bitstamp;
$727.26 #btce;
$744.46 #GDAX;
#bitcoin news: http://bit.ly/1VI6Yse
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Trend: up || Prices: 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Explainer: Central bank digital currencies: edging towards reality?: By Tom Wilson LONDON (Reuters) - Central banks are looking at creating their own digital currencies - a stark contrast to the ethos of cryptocurrencies that seek to subvert mainstream authority over money. While there is little consensus on how such currencies might take off, some countries such as the United States and European nations are looking at the concept, while China is the global frontrunner in a drive to make its own digitised money. The European Union, worried that Facebook's Libra cryptocurrency could erode state control over money, has urged the European Central Bank to look at issuing its own digital currency, a draft document seen by Reuters shows. Here are some key questions on the rise of central bank digital currencies (CBDCs) and their progress in entering the mainstream. ARE CBDCs DIFFERENT TO CRYPTOCURRENCIES? Yes - and fundamentally so. CBDCs are traditional money, but in digital form; issued and governed by a country's central bank. By contrast, cryptocurrencies like bitcoin are produced by solving complex maths puzzles, and governed by disparate online communities instead of a centralised body. The common denominator is that both cryptocurrencies and CBDCs, to a varying degree, are based on blockchain technology, a digital ledger that allows transactions to be recorded and accessed in real time by multiple parties. While some retailers accept bitcoin as a form of payment, cryptocurrencies are not recognised as legal tender - which CBDCs, by definition, would be. And unlike central bank money, both traditional and digital, the value of cryptocurrencies is determined entirely by the market, and not influenced by factors such as monetary policy or trade surpluses. AND WHAT ABOUT ELECTRONIC CASH? The rise of technology like contactless debit cards has made it easier for consumers and businesses to use electronic cash, or e-money, to pay for goods and services. But this also differs to CBDCs. Electronic cash, defined by the Bank for International Settlements as a store of value for making payments to retailers or between devices, is usually held at banks or on pre-paid cards or digital wallets such as PayPal. Story continues CBDCs would not merely be a representation of physical money, as is the case with electronic cash, but a complete replacement for notes and coins. SO WHAT ARE THE ADVANTAGES OF CBDCs? Central banks think CBDCs could make payments systems, which are often time-consuming and costly, more efficient, reducing transfer and settlement times and thus stoking economic growth. Some central banks think CBDCs could also counter the rise of cryptocurrencies issued by the private sector such as Libra, planned for launch in June 2020. Bitcoin and other virtual currencies, hampered by wild volatility, have presented few realistic threats to central bank control over money. But central bankers fret that Libra could reach billions and quickly erode sovereignty over monetary policy. CBDCs, they think, could address problems like inefficient payments that cryptocurrencies seek to solve, while maintaining state control over money. In the era of negative interest rates, CBDCs are also seen as offering a tool to control over how businesses and people use money. CBDCs, the argument goes, could be used to charge households and businesses to hold cash, forcing them to spend and invest and stimulating growth. ARE CBDCs CLOSE TO BECOMING REALITY? Increasingly so - though most CBDCs are still in very early or conceptual stages. While central banks across the world have in recent years researched the concept, China is closest to becoming the first major country to introduce a CBDC. While details of its project to build a digital renminbi are scarce, it will be powered in part by blockchain technology and will initially be issued to commercial banks and other financial institutions. China's move may push other central banks to take action. Last month, the president of the Federal Reserve Bank of Philadelphia said last month it was "inevitable" that central banks, including the U.S. Federal Reserve, would start issuing their own digital currencies. ARE MOST MAJOR CENTRAL BANKS SUPPORTIVE? Not quite. Caution and scepticism exists in many quarters. The Bank of Japan, for example, has warned that uncertainties over the impact of CBDCs on commercial banking must be addressed. The BOJ has also scotched the idea that CBDCs could boost the effectiveness of negative interest rate policies. Some households and companies, it thinks, would hoard traditional cash to avoid being charged for holding digital currencies if central banks were to issue and apply negative rates on them. (Reporting by Tom Wilson; Editing by Pravin Char) || Forex Broker FXCM Launches Basket of 5 Cryptos for Retail Investors: Foreign exchange trading platform FXCM Group has launched a basket of five cryptocurrencies aimed at retail investors. Dubbed CryptoMajor, the basket product includes bitcoin (BTC), XRP, litecoin (LTC), bitcoin cash (BCH) and ethereum (ETH), which are equally weighted to protect against market volatility, the firm said in an announcement Monday. The five cryptos are already traded on its platform. Speaking on launch, CEO Brendan Callan said the product simplifies crypto investment for retail users: Related: Mastering Emotions and Managing Risk in Cryptocurrency Trading “Trading a basket of cryptocurrencies means our users are freed from the hassle of constantly monitoring the markets. CryptoMajor therefore streamlines the trading process and protects our customers from unanticipated and adverse market movements.” The product is targeted at customers seeking to enter the nascent crypto market, Callan said, but who “don’t want to risk too much overexposure.” Under its previous owner, Global Brokerage, Inc, FXCM notably lost its license with the Commodity Futures Trading Commission, in addition to receiving a $7 million fine, for trading against its own customers in 2017, according to the Financial Times . After two of the company’s founders were banned from the U.S. financial industry, the London-based company exited the U.S. market. It’s now majority owned by Leucadia Investments, part of the Jefferies Financial Group, according to the FXCM website. Related: Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet Trading chart image via Shutterstock Related Stories Liquidity Provider B2C2 Launches Gold Derivative Settled in Bitcoin Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 27/11/19: Bitcoin Cash ABC Slides Back into the Red Bitcoin Cash ABC rose by 1.79% on Tuesday. Following on from a 3.82% rally on Monday, Bitcoin Cash ABC ended the day at $212.74. A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $214.0 before easing back. Falling short of the first major resistance level at $219.05, Bitcoin Cash ABC fell to an early afternoon intraday low $208.63. Steering clear of the first major support level at $195.46, Bitcoin Cash ABC broke back through to $212 levels and back into positive territory for the day. At the time of writing, Bitcoin Cash ABC was down by 1.95% to $208.59. A bearish start to the day saw Bitcoin Cash ABC fall from an end of Monday $212.74 to an early low $208.59. Bitcoin Cash ABC fell through the first major support level at $209.58 early on. For the day ahead, Bitcoin Cash ABC would need to move through the first major support level to $212 levels to support a bullish day ahead. A move through to $212 levels would bring the firsts major resistance level at $214.95 into play. Barring a broad-based crypto rally, Tuesdays high $214 and first major resistance level would likely limit any upside. Failure to move through to $212 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $207 levels would bring the second major support level at $206.42 into play. Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$200 for a 2 nd consecutive day. Litecoin Hits Reverse Litecoin rose by 3.14% on Tuesday. Following on from a 3.64% rally on Monday, Litecoin ended the day at $46.99. A bullish start to the day saw Litecoin rally from an early morning intraday low $45.28 to a mid-morning intraday high $47.64. Steering clear of the major support levels, Litecoin came within range of the first major resistance level at $47.97. A pullback through the middle of the day saw Litecoin fall to $45 levels before finding support late in the day. Story continues Litecoin bounced back to $47 levels before easing back to $46 levels at the day end. At the time of writing, Litecoin was down by 2.28% to $45.92. A bearish start to the day saw Litecoin slide from an early morning high $47.09 to low $45.72. Litecoin left the major support and resistance levels untested early on. For the day ahead, a move back through to $46.70 levels would bring the first major resistance level at $47.99 into play. Litecoin would need the support of the broader market, however, to break back through to $47 levels. Barring a broad-based crypto rebound, Litecoin would likely come up short of $48 levels for a 2 nd consecutive day. Failure to move back through to $46.70 levels could see Litecoin struggle throughout the day. A fall back through the morning low $45.72 would bring the first major support level at $45.63 into play. Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $44.28. Ripples XRP Gives up on $0.22 Levels Ripples XRP rose by 1.37% on Tuesday. Partially reversing a 1.50% fall from Monday, Ripples XRP ended the day at $0.22161. A mixed start to the day saw Ripples XRP fall to an early morning intraday low $0.21470 before finding support. Steering clear of the first major support level at $0.2051, Ripples XRP rose to a mid-morning intraday high $0.2230. Falling short of the first major resistance level at $0.2295, Ripples XRP eased back to sub-$0.22 levels before finding support late in the day. A late move back through to $0.22 levels delivered the upside on the day. At the time of writing, Ripples XRP was down by 0.65% to $0.22017. A mixed start to the day saw Ripples XRP fall to an early morning low $0.21950 before striking a high $0.22499. Steering clear of the major support levels, Ripples XRP came up against the first major resistance level at $0.2248. For the day ahead, a move back through to $0.22 levels would support another run at the first major resistance level at $0.2248. Ripples XRP would need the support of the broader market, however, to break out from $0.2200. Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside. Failure to move back through to $0.22 levels could see Ripples XRP slide deeper into the red. A fall through the morning low $0.21950 would bring the first major support level at $0.2165 into play. Barring a crypto meltdown, however, Ripples XRP should steer clear of the second major support level at $0.2115. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Forecast Euro Remains Rangebound Above 1.10 Handle U.S. Dollar Index Futures (DX) Technical Analysis Locked Inside Retracement Zone at 98.095 to 98.380 Crude Oil Price Update Big API Draw Down Could Trigger Breakout Over $58.74 US Stock Market Overview Stocks Hit Fresh Highs Led by Real-estate; Energy Bucks the Trend European Equities: Trade in Focus, as the Markets Look for a Conclusion Its A Trade Talk Lovefest || English Premier League Club Wolverhampton Wanderers Partners with Crypto Millions Lotto, the World's Biggest Bitcoin Lottery: London, England--(Newsfile Corp. - November 19, 2019) -Crypto Millions Lotto, the world's biggest bitcoin lottery, is proud to announce that it is the "Official Online Lottery Partner" of English Premier League club Wolverhampton Wanderers F.C., better known as Wolves.
The partnership is groundbreaking. While many Premier League clubs have collaborated with sports betting partners, this is the first involving an online lottery business.
The world’s biggest bitcoin lottery signs agreement with Wolves.To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6671/49759_crypto_orig.jpg
Wolves is quickly becoming known in cryptocurrency circles as the "go-to" club - like bitcoin itself, a "challenger" brand, challenging the Premiership hierarchy. Crypto Millions Lotto has chosen Wolves for this reason, as it introduces its brand to a global audience, particularly across Asia, Latin America, Canada, Russia and the CIS.
One of the most significant features of the partnership is the major step it represents in bringing the world's most widely used alternative currency further into the mainstream. Wolves and Crypto Millions Lotto are doing their part to encourage bitcoin usage and adoption along with Crypto Millions Lotto's unique referrer program, operated through sister sitewww.earnbitcoin.world. This allows registered users to receive referral fees in bitcoin and compete for a US$2.5 million prize without even buying a lottery ticket.
Commenting on the partnership, Crypto Millions Lotto CEO Sulim Malook, stated, "We are delighted to have found a partner that has the same disruptive ethos as ourselves. Wolves' success last year has put the club's name on the world stage in a sport that is by far the most watched on the planet. As a company, we are big football fans, and Wolves is the most crypto-friendly club in England. They were an obvious choice."
Steve Morton, head of commercial at Wolves, said, "We're delighted to partner with Crypto Millions Lotto, an ambitious company that is keen to increase its exposure with the help of Wolves' global reach across various platforms. We're also excited to develop our relationship, which will also see the Wolves brand reach new audiences in Eastern Europe and South America."
About Crypto Millions Lotto
Crypto Millions Lotto is the trading name for Ofertas365 Limited, a UK company whose shares have been listed on the Dutch Caribbean Securities Exchange since 2015. It is the world's biggest bitcoin lottery and provides a unique opportunity for players to play with, and win, bitcoin. New customers receive three free lines as an introductory offer and jackpots, which are fully insured start at a whopping US$30 million and roll over until won, which on average is every 3½ weeks.
The lottery is fully licensed to operate in more than 150 countries. Customers can be assured that the draws are completely trustworthy, transparent and fair, as they are based on the outcome of the German National Lottery, which has been operational since 1955 and is televised twice weekly on German television.
For more information, visithttps://www.cryptomillionslotto.com/
About Wolverhampton Wanderers
Wolves was founded in 1877 and is one of the 12 Founding Members of the English Football League. The club has won the English First Division (as the Premier League was formerly known) three times, the FA Cup four times and the Football League Cup twice. It's seventh place finish in 2018-19 means that it is competing in this year's Europa League.
Today it is owned by Fosun, a Chinese technology focused consumer group whose shares are listed on the Hong Kong Stock Exchange.
For more information, visithttps://www.wolves.co.uk
Contact:
For media/press inquiries contact:[email protected]@wolves.co.uk
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/49759 || Dutch court orders Facebook to ban celebrity crypto scam ads after another lawsuit: A Dutch court has ruled that Facebook can be required to use filter technologies to identify and pre-emptively take down fake ads linked to crypto currency scams that carry the image of a media personality, John de Mol, and other well known celebrities. The Dutch celerity filed a lawsuit against Facebook in April over the misappropriation of his and other celebrities' likeness to shill Bitcoin scams via fake ads run on its platform. In an immediately enforceable preliminary judgement today the court has ordered Facebook to remove all offending ads within five days, and provide data on the accounts running them within a week. Per the judgement, victims of the crypto scams had reported a total of €1.7 million (~$1.8M) in damages to the Dutch government at the time of the court summons. The case is similar to a legal action instigated by UK consumer advice personality, Martin Lewis, last year , when he announced defamation proceedings against Facebook -- also for misuse of his image in fake ads for crypto scams. Lewis withdrew the suit at the start of this year after Facebook agreed to apply new measures to tackle the problem: Namely a scam ads report button. It also agreed to provide funding to a UK consumer advice organization to set up a scam advice service. In the de Mol case the lawsuit was allowed to run its course -- resulting in today's preliminary judgement against Facebook. It's not yet clear whether the company will appeal but in the wake of the ruling Facebook has said it will bring the scam ads report button to the Dutch market early next month. In court, the platform giant sought to argue that it could not more proactively remove the Bitcoin scam ads containing celebrities' images on the grounds that doing so would breach EU law against general monitoring conditions being placed on Internet platforms. However the court rejected that argument, citing a recent ruling by Europe's top court related to platform obligations to remove hate speech, also concluding that the specificity of the requested measures could not be classified as 'general obligations of supervision'. It also rejected arguments by Facebook's lawyers that restricting the fake scam ads would be restricting the freedom of expression of a natural person, or the right to be freely informed -- pointing out that the 'expressions' involved are aimed at commercial gain, as well as including fraudulent practices. Facebook also sought to argue it is already doing all it can to identify and take down the fake scam ads -- saying too that its screening processes are not perfect. But the court said there's no requirement for 100% effectiveness for additional proactive measures to be ordered. Story continues Its ruling further notes a striking reduction in fake scam ads using de Mol's image since the lawsuit was announced . Facebook's argument that it's just a neutral platform was also rejected, with the court pointing out that its core business is advertising. It also took the view that requiring Facebook to apply technically complicated measures and extra effort, including in terms of manpower and costs, to more effectively remove offending scam ads is not unreasonable in this context. The judgement orders Facebook to remove fake scam ads containing celebrity likenesses from Facebook and Instagram within five days of the order -- with a penalty of €10k per day that Facebook fails to comply with the order, up to a maximum of €1M (~$1.1M). The court order also requires that Facebook provides data to the affected celebrity on the accounts that had been misusing their likeness within seven days of the judgement, with a further penalty of €1k per day for failure to comply, up to a maximum of €100k. Facebook has also been ordered to pay the case costs. Responding to the judgement in a statement, a Facebook spokesperson told us: We have just received the ruling and will now look at its implications. We will consider all legal actions, including appeal. Importantly, this ruling does not change our commitment to fighting these types of ads. We cannot stress enough that these types of ads have absolutely no place on Facebook and we remove them when we find them. We take this very seriously and will therefore make our scam ads reporting form available in the Netherlands in early December. This is an additional way to get feedback from people, which in turn helps train our machine learning models. It is in our interest to protect our users from fraudsters and when we find violators we will take action to stop their activity, up to and including taking legal action against them in court. One legal expert describes the judgement as " pivotal ". Law professor Mireille Hildebrandt told us that it provides for as an alternative legal route for Facebook users to litigate and pursue collective enforcement of European personal data rights. Rather than suing for damages -- which entails a high burden of proof. Injunctions are faster and more effective, Hildebrandt added. This is a tort case, not based on GDPR. Enforcement of GDPR obligations can also be ensured via such penalty payments (much more effective than fines), ex art. 79 GDPR, which basically requires that tort actions can be filed against controllers if unlawful processing 4/4 — Mireille Hildebrandt (@mireillemoret) November 12, 2019 https://platform.twitter.com/widgets.js "It clearly demonstrates that Facebook is an advertising platform that can be held liable under Dutch tort law for not taking adequate measure to remove fake ads, provided certain conditions apply (such as that the request for an injunction is sufficiently specific)," she said. "It also clearly demonstrates that filing an injunction to stop unlawful behaviour based on tort law can be very efficient, without having to prove damages, because the injunction can be enforced by way of penalty payments for each day that it is not complied with." "I believe that this is the kind of action Member State should enable under art. 79 GDPR [General Data Protection Regulation] in the case of unlawful processing of personal data," Hildebrandt added. "Art. 80 GDPR allows data subjects to mandate their right to file such an injunction to a dedicated NGO (thus enabling collective action). This is not the case for a tort actions suing for damages, in that case the GDPR leaves it up to the Member States whether or not to allow such mandating. On top of that suing for damages is very cumbersome in the case of unlawful processing, because it is usually very difficult to prove damages and to prove causality." The judgement also raises questions around the burden of proof for demonstrating Facebook has removed scam ads with sufficient (increased) accuracy; and what specific additional measures it might deploy to improve its takedown rate. Although the introduction of the 'report scam ad button' does provide one clear avenue for measuring takedown performance. The button was finally rolled out to the UK market in July . And while Facebook has talked since the start of this year about 'envisaging' introducing it in other markets it hasn't exactly been proactive in doing so -- up til now, with this court order. This report was updated with additional comment View comments || Employment Data, Rate Cut Speculations and Gold: September Payrolls Slow Down, but Unemployment Rate Drops Anyway The U.S. created only 136,000 jobs in September , following an increase of 168,000 in August (after an upward revision). The nonfarm payrolls were short of the analysts’ forecast of 150,000. The gains were widespread, spearheaded by education and health services (+40,000) and professional and business services (+34,000). Manufacturing, which is in recession, and retail trade, which faces overcapacity, cut jobs. However, the weak headline number was accompanied by upward revisions in August and July. Counting these, employment gains in these two months combined were 45,000 higher than previously reported. Consequently, the job gains have averaged 157,000 per month over the last three months , and 161,000 so far this year, still significantly below the average monthly gain of 223,000 in 2018. Although the pace of hiring has slowed (see the chart below), the U.S. economy is still creating jobs at a reasonable pace. Indeed, the job creation pushed the unemployment rate down, from 3.7 to 3.5 percent, the lowest level since 1969. It means that the U.S. labor market is likely to further contribute to the longest economic expansion on record, at least for the time being. Chart 1: U.S. nonfarm payrolls (red bars, left axis, change in thousands of persons) and the unemployment rate (green line, right axis, %) from September 2014 to September 2019. The labor force participation and the employment-population ratio were little changed. It means that the decrease in the unemployment rate was not caused by people dropping from the labor market. Meanwhile, the average hourly earnings for all employees on private nonfarm payrolls have increased 2.9 percent over the last twelve months, which is a decline from the August 3.2 percent rise. This slowdown in the wage inflation should not significantly impact the Fed’s stance, however. Hence, the U.S. labor market shows resilience in general. The recession in manufacturing sector has not translated into higher unemployment rate, at least not yet. As a result, the overall economy is still doing relatively well, which is bad news for gold prices . Story continues Implications for Gold The latest Employment Situation Report does not support expectations of another interest rate cut in October. The Fed has reduced the federal funds rate twice this year as an insurance against the possible recession. The U.S. labor market does not signal an economic downturn and does not justify a further interest rate cut. That’s not the conclusion that the gold bulls would like to hear. It seems that they need some new, positive fundamental developments to take prices higher. However, the case is not lost. The precious metals investors should remember that the unemployment rate is more of a lagging rather than a leading indicator. So any potential economic weakness will be revealed in the employment report with a certain lag. And the Fed may still deliver another interest rate cut, the solid employment situation nonetheless. After all, both the 2019 easing moves occurred not because of, but despite the signals coming from the labor market. The market odds of the 25-basis point interest rate cut in October stand at almost 75 percent! Tomorrow, the minutes from the recent FOMC meeting will be published – and they could provide some insights into the Committee’s thinking. If the minutes are more dovish than expected, the yellow metal should shine. But if they are more hawkish than expected, the gold prices could drop. If you enjoyed the above analysis, we invite you to check out our other services. We provide detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. If you’re not ready to subscribe yet and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Thank you. Arkadiusz Sieron Sunshine Profits‘ Gold News and Gold Market Overview Editor This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Forecast – Euro Holds Below Resistance Ahead of Fed Minutes NZD/USD Bullish Head and Shoulders Should Provide a Breakout to the North A Light Economic Calendar Puts Geopolitics in the Driving Seat Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/10/19 Asian Shares Capped Amid Growing Uncertainty Over Trade Talks GBP/USD Daily Forecast – Sterling Recovers but Retains Bearish Tone || Local governments in China pledge funds to blockchain projects: Chinese President Xi Jinping’s endorsement of blockchain technology last week had many ripple effects. It sent the cryptocurrency markets on a tear. It added weight to Zuckerberg’s words that if the US didn’t move ahead with blockchain innovation, China would. And it sparked a debate over exactly how and what types of blockchain China would pursue. Blockchain, not Bitcoin Of course, many people pointed out that China’s investments in blockchain technology would not mean its people would suddenly start using Bitcoin. Far from it, in fact. In a follow-up statement, Xi Jinping was quick to remind an excited crypto community that he was referring to blockchain, not Bitcoin . As long-time trader, economist, and market analyst Alex Krüger pointed out, it’s far more likely that the China blockchain plans involve private chains to add additional layers of surveillance to people’s payments. Assume China's president has private blockchains in mind. Blockchain, not crypto. Control and surveillance, not freedom and privacy. https://t.co/Az6haBQAd9 — Alex Krüger (@krugermacro) October 25, 2019 Think “control and surveillance, not freedom and privacy”, he said. However, others maintain that it’s impossible to separate blockchain and Bitcoin. The two technologies go hand in hand. Therefore, any use or mention of blockchain will inevitably lead people to Bitcoin in the end. Hence the market pump. Exactly how China plans to implement blockchain technology remains to be seen. But what cannot be disputed is the fact that the country is taking it very seriously indeed. From Chinese banks being encouraged to incorporate blockchain technology for digital finance to new legislation on cryptography, it’s clear that Xi Jinping’s words are already being put into action. Story continues Local governments start funding China blockchain projects Founding partner of PrimitiveCrypto and trusted source on blockchain developments in China Dovey Wan has now said local Chinese governments are throwing their hats into the ring. The local Guangzhou government today announced that it will dedicate 10 billion RMB ($150 million USD) in funding to a “blockchain subsidy” for “outstanding blockchain projects”. She commented: “I believe all other local govs will follow, overall capital subsidy can be massive.” BREAKING Local Guangzhou gov just announced a 10B RMB (~$150M USD) government funding dedicated in "blockchain subsidy" for "outstanding blockchain projects" More details below I believe all other local govs will follow, overall capital subsidy can be massive — Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) October 30, 2019 She further explains that the plan is to selectively sponsor two blockchain projects each year. These can either be public or federated chain projects. According to financial media outlet Caijing, the subsidy for public chain projects is up to $1.5 million, with up to $500,000 made available for federated chains. On top of that, local authorities will fund an additional 20 Chinese blockchain companies with a “few hundred thousand” dollars. dApps dedicated to the public services area will receive up to $1.5 million each. In addition to that, there will be extra funding for local universities’ training programmes and investing in blockchain education in China. This, she says, is: “HUGE for talent attraction and retention, all other govs will follow and compete.” Wan explains that in China, the dynamics of local governments is game-theoretical. This means that it’s highly likely we’ll see further larger bids from different local authorities trying to “impress the central gov and CCP the most”. What does this mean for the cryptocurrency space? The Chinese government is keen to leave cryptocurrencies out of the narrative entirely. Wan pointed out that the definition of “public chain” in the Chinese media statement was a “chain without a token”. To which she commented, “not sure if that type of public chain exists”. It will be interesting to see how (and if) the Chinese government plans to build blockchains without tokens or if the token functionality will be merely kept on lockdown. In the meantime, however, any investment in the blockchain space can generally be taken as good news. Blockchain, not Bitcoin, has now reached the highest level of the second-largest economy in the world. If that doesn’t wake up the sluggish American regulators falling asleep at the wheel, nothing will. This could be the start of many more exciting developments to come. The post Local governments in China pledge funds to blockchain projects appeared first on Coin Rivet . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/11/19: Bitcoin Cash ABC rallied by 3.73% on Saturday. Reversing a 1.39% fall from Friday, Bitcoin Cash ABC ended the day at $289.17.
Bullish through much of the day, Bitcoin Cash ABC rallied from an early intraday low $277.81 to a late intraday high $295.03.
Bitcoin Cash ABC broke through the first major resistance level at $283.41 and second major resistance level at $289.21.
Coming up short of $300 levels, Bitcoin Cash ABC slid back through the second major resistance level to $287 levels.
While finding support late in the day, the second major resistance level capped the upside on the day.
At the time of writing, Bitcoin Cash ABC was up by 3.21% to $298.44. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $291.16 to a high $304.03.
Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $296.86. Coming up against the second major resistance level at $304.56, Bitcoin Cash ABC fell back to sub-$300 levels.
For the day ahead, Bitcoin Cash ABC would need to hold above the first major resistance level at $296.86 to support another run at $300 levels.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from the second major resistance level at $304.56.
Barring an extended rally through the day, the second major resistance level at $304.56 would likely cap any upside.
Failure to hold above the first major resistance level could see Bitcoin Cash ABC give up the morning gains.
A fall through to sub-$288 levels would bring the first major support level at $279.64 into play.
Barring a broad-based crypto reversal, however, we would expect Bitcoin Cash ABC to steer clear of sub-$290 levels.
Litecoin rose by just 0.05% on Saturday. Following a 0.09% fall from Friday, Litecoin ended the day at $58.38.
Bearish through the morning, Litecoin fell to a late morning intraday low $57.86 before finding support.
Steering clear of the first major support level at $57.00, Litecoin rallied to a late afternoon intraday high $59.32.
Coming up against the first major resistance level at $59.34, Litecoin fell back to sub-$58 levels before finding late support.
A late move back through to $58 levels left Litecoin flat on the day.
At the time of writing, Litecoin was up by 0.02% to $58.39. A mixed start to the day saw Litecoin rise from an early morning low $58.13 to a high $58.80 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $58.50 levels would support a run at the first major resistance level at $59.18.
Litecoin would need the support of the broader market, however, to break out from this morning’s high $58.80.
Barring a broad-based crypto rally, the first major resistance level at $59.18 and Saturday’s high $59.32 would likely limit any upside.
Failure to move back through to $58.50 levels would bring the first major support level at $57.72 into play.
Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $57.06.
Ripple’s XRP rose by 0.92% on Saturday. Reversing a 0.82% fall from Friday, Ripple’s XRP ended the day at $0.29599.
A mixed start to the day saw Ripple’s XRP fall from an early morning intraday low $0.29329 to a high 0.29613.
Steering clear of the major support and resistance levels early on, Ripple’s XRP eased back to sub-$0.2940 levels before finding support.
An early afternoon rally saw Ripple’s XRP strike a late afternoon intraday high $0.29947 before easing back.
Ripple’s XRP broke through the first major resistance level at $0.2972 before sliding back to sub-$0.2960 levels at the day end.
At the time of writing, Ripple’s XRP was down by 0.33% to $0.29500. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29738 before sliding to a low $0.29500.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2960 levels would support a run at the first major resistance level at $02992.
Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.29738.
Barring a broad-based crypto rally, Ripple’s XRP would likely fall short of $0.30 levels for a 4thconsecutive day.
Failure to move through to $0.2960 levels could see Ripple’s XRP fall deeper into the red.
Ripple’s XRP would likely test the first major support level at $0.2930 before any recovery.
In the event of an extended sell-off through the day, the second major support level at $0.2901 would likely limit any downside.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• U.S Mortgage Rates Rise Again Supported by Progress in Trade Talks || Bitcoin drops below $6,800, hitting a six-month low: Bitcoin prices fell sharply this morning from $7,700 to below $6,800—an almost 12% drop— hitting a six-month low.
Data fromRektoshows that derivatives exchange BitMEX saw more than $388 million worth of XBT Perpetual Swap contracts liquidated over the past 24 hours, which means that the exchange system has automatically closed a large number of bitcoin levered positions. By publication time, Bitcoin prices have clawed their way back above $7,000.
According to a market brief provided to The Block by QCO, a crypto trading firm based in Singapore, BiMEX Open Interest (OI) has dropped below $700 million following rapid liquidations—an indicator of positioning extremes. The exchange is likely to observe a negative funding rate while futures remain in contango, the brief says.
Although it is possible for Bitcoin to approach the $6,000 level by year-end, the brief adds, right now it is more bullish than bearish. QCP also believes that Chinese retail traders will likely buy on dips if Bitcoin’s prices fell below $7,000. || NZD/USD Forex Technical Analysis – Triangle Formation with .6341 Resistance, .6294 Support: The New Zealand Dollar is trading lower early Monday as traders positioned themselves ahead of Wednesday’s release of the September quarter inflation figures. Economists expect the consumer price index to have risen 0.6 percent in the latest quarter, taking the annual rate to 1.4 percent, down from 1.7 percent in the June quarter.
At 04:49 GMT, theNZD/USDis trading .6313, down 0.0025 or -0.40%.
On Friday, the NZD/USD surged to its highest level since September 18 after President Trump announced a partial trade deal between the United States and China.
The main trend is up according to the daily swing chart. The trend changed to up on Friday when buyers took out the previous main top at .6337. It was reaffirmed later in the session when .6349 was taken out.
A trade through .6354 will signal a resumption of the uptrend. A move through .6277 will change the main trend to down.
The short-term range is .6451 to .6204. Its retracement zone at .6328 to .6357 is resistance. This zone stopped the rally on Friday at .6354.
The minor range is .6204 to .6354. Its retracement zone at .6279 to .6261 is the next downside target.
Based on the early price action and the current price at .6314, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at .6294.
A sustained move over .6294 will indicate the presence of buyers. If this can create enough upside momentum then look for the rally to possibly extend into the short-term 50% level at .6328, followed by the downtrending Gann angle at .6341.
Overtaking .6341 could extend the rally into the minor top at .6354, followed by the short-term Fibonacci level at .6357.
A sustained move under .6294 will indicate the selling is getting stronger. This could trigger a further break into the minor 50% level at .6279, followed closely by the main bottom at .6277.
Taking out .6277 will change the main trend to down. This could trigger a quick drop into the minor Fibonacci level at .6261.
Thisarticlewas originally posted on FX Empire
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You can make $3000 BTC with your Phone or PC. click on my link or Download Telegram. || #BTCUSD - BTC em triangulo no semanal - TradingView - https://t.co/Z3t5Nm6b5F || Bitcoin Drops $300, Daily Losses Among Altcoins Reach 10% https://t.co/INIBG3D0TR https://t.co/FjrvBjCLSz || Great thread. The value of bitcoin is in enabling cash-like transactions in the digital realm, which is an important and worthy endeavor for various reasons. The “digital gold” thesis was grafted on only later, and is far less compelling, conceptually and just empirically. https://t.co/bkU4Gpnzoi
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Trend: down || Prices: 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-09-11]
BTC Price: 6321.20, BTC RSI: 39.01
Gold Price: 1195.40, Gold RSI: 44.39
Oil Price: 69.25, Oil RSI: 54.52
[Random Sample of News (last 60 days)]
Revisiting Europe ETFs Thanks to Attractive Valuations: This article was originally published on ETFTrends.com. After rallying last year, European stocks and the related exchange traded funds are disappointing investors in 2018. For example, the SPDR EURO STOXX 50 ( FEZ ) is lower by nearly 7% while the SPDR STOXX Europe 50 ETF ( FEU ) is off by a comparable amount. The $3.44 billion FEZ tracks the EURO STOXX 50 Index, a benchmark that focuses on Eurozone equities. The $203.23 million FEU follows the STOXX Europe 50 Index, featuring significant exposure to U.K. and Swiss stocks along with Eurozone equities. Some investors are growing increasingly wary of European banks as ETFs tracking financials saw net outflows in Europe and the U.S. Goldman sachs research found mutual funds were on average holding fewer bank shares than benchmark indices and even raised short positions on the sector year-over-year. However, some market observers believe opportunities remain with European stocks. “We believe Europe will still grow this year, but in a moderately disappointing way compared to 2017. Our current forecasts for the region are 2.2% annual GDP growth for 2018 vs. 3.8% for the US. However, the risks are more likely to the downside given the headwinds facing the region,” said State Street Global Advisors (SSgA) in a note out Monday . Attractive Europe Valuations European stocks sport compelling value relative to major U.S. equity benchmark. European cyclical stocks are attractively against U.S. equivalents, which is a positive for FEZ. The ETF devotes over 47% of its combined weight to cyclical financial services, industrial and consumer discretionary names. “The challenge is that attractive European relative valuations are often the case, and there has not been a consistent catalyst to see that valuation discount realized,” said SSgA. Related: Banks Drag Europe ETFs Down on Turkey Uncertainty FEZ holds 51 stocks and allocates over 70% of its combined weight to France and Germany, the Eurozone's two largest economies. Financial services and industrial stocks combine for over a third of the ETF's weight. One catalyst that could spark European stocks is a rebound in return on equity (ROE). European stocks have sharply lagged U.S. rivals on that metric for several years. Story continues “Over the last five years, Europe has lagged the S&P 500® Index by 50%, and by 6% since the start of 2018. This is because the return on equity (ROE) for European companies is 700 basis points lower on average than for US companies. This gap needs to close for European valuations to catch up with those of the US,” according to SSgA. For more information on the European markets, visit our Europe category . POPULAR ARTICLES FROM ETFTRENDS.COM How to Best Use an HSA to Your Benefit Does the Money Management Industry Need Consolidation? Tesla Board to Meet Next Week About Going Private Bitcoin Suffers from ‘Week of Pain,’ Bounce Ahead? Investors Flocked to Healthcare ETFs in July READ MORE AT ETFTRENDS.COM > || Bitcoin Price Intraday Analysis: BTCUSD Breaks Ascending Triangle: Bitcoin price on Tuesday continued to stay capped by a stiff resistance near $6,500.
The BTC/USD pair started off today with a near-term bullish correction from intraday support near 6232-fiat. The upside looked strong during the Asian trading session and was able to go above 6500-fiat by the afternoon. However, the presence of a firm selling sentiment near the said resistance once again reversed the trend. The European session saw price slipping back to the 6400-ish range following the pullback.
As BTC/USD trends sideways, it has now broken below the ascending triangle. The downside hasn’t been much volatile, so the pair has a very valid potential to renter the triangular zone on a bounce back. If it does, we can consolidate sideways and create higher lows towards 6700-fiat before attempting an upside/downside breakout.
The BTC/USD is currently trading above its 100H and 200H moving averages. The 100H MA is itself above the 200H MA, indicating a lack of bearish action on the hourly BitFinex chart. The RSI and Stochastic indicators, meanwhile, have entered the territory of buying sentimentalists, with their heads down towards the south, indicating the current bearish correction.
Overall, the near-term bias is bullish.
According to our intraday analysis, the range we are watching for today is defined by 6346-fiat as interim support and 6500-fiat as interim resistance. It is quite a narrow one to apply our intrarange strategy so that we will be directly starting with our breakout entries for the rest of the day.
Naturally, we will first wait for the price to retest 6346-fiat. On a bounce back, we will enter a long position directly towards our upside target near 6550-fiat. Placing a stop loss three-pips below the entry position will define our risk management perspective. However, if we continue to go down upon breaking 6346-fiat, we will enter a short position towards 6159-fiat, our downside target, while keeping a stop loss two-pips above the entry position.
There is also a third scenario in our breakout perspective. If price attempts a strong upside correction so that it breaks above 6550-fiat, then we’ll enter a long position towards the ascending channel resistance. In this position, we’ll keep our stops three-pips below the entry position to protect our trades from additional losses should the bias reverses.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Intraday Analysis: BTCUSD Breaks Ascending Triangleappeared first onCCN. || $43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds: Bitcoin price rollercoaster Over the past 24 hours, Bitcoin, Ethereum, and Bitcoin Cash recovered by around four percent, as the crypto market added $8 billion to its valuation. On August 11, the crypto market lost more than $12 billion of its valuation as major cryptocurrencies recorded large losses. Since then, the market has slightly recovered but the momentum of major digital assets still remains weak. Drastic Turn of Momentum in Five Days On August 7, the value of the global cryptocurrency market hovered at around $257 billion, supported by stability in the price of both Bitcoin and Ether, the native cryptocurrency of Ethereum, at $7,300 and $400 respectively. Since then, within less than five days, the price of Bitcoin and Ether fell to $6,300 and $320, reaching $5,980 and $305 at their lowest points on August 11. In five days, more than $43 billion were wiped out of the market. It is evident, given the steep decline in the valuation of the crypto market, that major cryptocurrencies have faced a strong downtrend over the past few weeks. Apart from Bitcoin, the most dominant digital asset in the market, almost every major cryptocurrency and token lost a significant chunk of its value. Ether, for instance, has been one of the worst performing digital assets throughout August, despite demonstrating momentum throughout January to July. Some analysts have attributed the steep drop in the price of Ether to the sell-off of ETH by initial coin offerings (ICOs) and blockchain projects. Dumping of Ether on public cryptocurrency exchanges by large-scale blockchain projects explains why one of the better performing cryptocurrencies in 2018 lost more of its market valuation than any other major digital asset over the past week. For the cryptocurrency market to experience a reversal in trend and momentum, not merely a 1 to 5 percent increase in value but a 40 to 50 percent surge in its value, a drastic change in its volume and price trend will have to be recorded, meaning that Bitcoin would have to secure momentum at major resistance levels. Story continues In the short-term, considering the overly strong downtrend of the market, it is difficult to see even large cryptocurrencies recording corrective rallies to be at a better position to initiate a mid-term rally. At this point, a more plausible situation is major cryptocurrencies bottoming out at the lower price range, building stability for a few weeks, and then initiating a strong rally. The probability of cryptocurrencies suddenly increasing in value by 10 to 20 percent, as Bitcoin has done in late June, is low. Bitcoin is in a Better Position? Willy Woo, a respected cryptocurrency analyst who predicted the price of Bitcoin to bleed out slowly from $9,000 to $6,000 in late may, said: “Just looking at Chris’ chart you can see BTC is much stronger this time around. (Comparing OBV indicators over the same time frame is a great way to see of this more clearly.) There’s a lot of buying going on behind the fear and capitulation.” As mentioned above, it is of utmost importance for BTC and other cryptocurrencies to build momentum and stability, to support the next rally in the mid-term. Featured image from Shutterstock. Charts from TradingView . The post $43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds appeared first on CCN . || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 31/07/18: Bitcoin Cash fell by 1.95% on Monday, reversing the weekend’s gains, to end the day at $814.8.
A bearish start to the day saw Bitcoin Cash slide through the first major support level at $815.7 to a morning low $814 before recovering to $820 levels, though the writing was on the wall, with the recovery short lived.
Through the late morning and early afternoon, a broad based market sell-off saw Bitcoin Cash fall through the second major support level at $800.6 to an intraday low $782.2 before a late afternoon rally saw Bitcoin Cash break back through to $800 levels to limit the damage on the day, Bitcoin Cash unable to break out from its extended bearish trend.
At the time of writing, Bitcoin Cash was down 1.04% to $806, with Monday’s late in the day recovery going into reverse in the early hours, Bitcoin Cash pulling back from a start of a day $814.9 high to a morning $800.2 low.
While the early moves left major support and resistance levels untested, support at $800 was needed to avert a more material decline.
For the day ahead, a move back through to $810 would support a run at the first major resistance level at $839.33, though sentiment across the broader market will need to improve to support a move through to $830 levels.
Failure to move back through the morning’s $814 high could see Bitcoin Cash pullback later in the day to test the first major support level at $786.23, with Bitcoin Cash needing steer clear of Monday’s $782.2 low to avoid a more material sell-off.
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Litecoin fell by 2.03% on Monday, following on from losses through the weekend, to end the day at $82.24.
Litecoin’s intraday high $84.7, struck in the early hours of the day, was the only bullish move that came within reach of the day’s first major resistance level at $84.99, before the cryptomarket sell-off kicked in.
Litecoin tumbled through the day’s major support levels to an early afternoon intraday low $79.76, before breaking back through the third major resistance level at $80.52 to end the day at $82 levels.
Monday’s sub-$80 low was the first since 21stJuly, reaffirming the extended bearish trend, a break through the 23.6% FIB Retracement Level of $98 needed to begin a bearish trend reversal.
At the time of writing, Litecoin was down 0.86% to $81.51, a start of a day $82.43 high, coming off the back of an opening $82.22, steering clear of the first major resistance level at $84.71 before Monday’s slide resumed, with Litecoin falling to a morning low $81.36.
For the day ahead, a move back through to the morning high $82.43 would support a run at $83 levels to bring the day’s first major resistance level at $84.71 into play, though based on current sentiment, $84 levels may well be a step too far for Litecoin on the day.
Failure to move back through the morning high could see Litecoin take a bigger hit through the afternoon, with the day’s first major support level at $79.77 in play, while we would expect Litecoin to steer clear of the second major support level at $77.29.
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Ripple’s XRP fell by 1.74% on Monday, following Sunday’s 1.1% fall, to end the day at $0.4456.
Tracking the broader market, an early morning intraday high $0.46058, tested the day’s first major resistance level at $0.4597 before the cryptomarket sell-off ensued, with Ripple’s XRP sliding through the first major support level at $0.4472 and second major support level at $0.4415 to an intraday low $0.43221.
An afternoon recovery saw Ripple’s XRP break back through the second major support level, while failing to close out the day above the first major support level at $0.4472 provided further support for the extended bearish trend.
At the time of writing, Ripple’s XRP was down 1.32% to $0.4415, a start of a day morning high $0.44747 coming up well short of the first major resistance level at $0.4601, with the morning reversal seeing Ripple’s XRP fall through to a morning low $0.43924, before moving back to $0.44 levels.
For the day ahead, a move through to $0.4461 would support a run at $0.45 levels, to bring the first major resistance level at $0.4601 into play, while we would expect $0.46 levels to remain out of reach through the day.
Failure to recover back through $0.4461 would likely see Ripple’s XRP test the day’s first major support level at $0.4317, with sub-$0.43 levels in play should sentiment not improve in the early afternoon.
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Thisarticlewas originally posted on FX Empire
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• Silver Price Forecast – Silver rallies to start the week || Tyler Winklevoss: It Will Take Time for Wall Street to Make Crypto Jump: Crypto exchange Gemini CEO Tyler believes it will take time for the majority of Wall Street to enter the cryptocurrency sector. The Winklevoss brothers also said they wont be slowing down anytime soon after the Securities and Exchange Commission (SEC) rejected their proposal for a Bitcoin ETF recently, speaking in a Bloomberg interview . Its been a tough period for the owners of Gemini Trust Co. exchange, who have seen dwindling trade volumes on their exchange, declining prices for their holdings and a proposed bitcoin exchange-traded funds rejected last month. The reluctance exhibited by the SEC to approve their fund twice is a tough pill to swallow for most, but the brothers said they would continue to grow the business despite the absence of institutional investors in the industry. CEO of Gemini Tyler Winklevoss said institutional investors were gradually warming up to cryptocurrencies, but it will take time before they make a splash. He said: Wall Street is taking cryptocurrencies seriously. However, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time. Institutional investors have been on the sidelines for a while due to the regulatory uncertainty hanging around cryptocurrencies. Investors on Wall Street are waiting for the regulators to clarify their positions on tokens and allow other financial instruments into the market, such as the Bitcoin ETF proposal drafted by Gemini and Cboe Global Markets Inc. The fund, if approved would have opened up the volatile cryptocurrency market to institutional investors. In the meantime, Gemini has been making plans to grow its retail business. In the past six months, it has doubled its staff to 150 people globally, and it plans to increase it before year-end. The company also to managed to rope in tech executives to the exchange, bringing in former CIO at the New York Stock Exchange, Robert Cornish. Story continues Following the denial of the Winklevoss Gemini Bitcoin ETF, prices of cryptocurrencies have taken a hit. Industry experts believe the CBoE backed VanEck/SolidX fund could be approved instead. The SEC postponed its decision to rule on the VanEck SolidX fund proposal to September. Featured image from Flickr/TechCrunch. The post Tyler Winklevoss: It Will Take Time for Wall Street to Make Crypto Jump appeared first on CCN . || Bitcoin Price Drops, IPO’s and an NYSE Bitcoin Market: This Week in Crypto: Make sure you check out our previous editionhere, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition ofTheCCNPodcastoniTunes,TuneIn,Stitcher,Google Play Music,Spotifyor whereveryou get your podcasts.
1. The bitcoin price is down 15% this weekfollowing strong gains of9% last weekand18% the week before that. The coin had been hovering around the $8,000 mark since it firsthitthe crucial price level onAugust 24th. The $1,200+ pricedrophas largelybeen blamedon theSEC’s rejectionof the Winklevoss’secondETF rejection. On its way down, the price flirted with the$7,800 support levelbefore failing to maintain that level. The bearish pattern has continued all the way down to the$7,000 level.
2. Ethereum is down 14% this weekhovering around the $400 level. The coin has been moving in tandem with bitcoin as far as down moves go recently, but not mirroring up moves. As we discussed on last week’spodcast episode, ethereum is representative oflots of altcoinsthat have mostly takenheavy losses.
3. The entire coin market capis down 14% this week. The cap fell below the crucial$300 billion levelearlier this week and fell to the $255 billion level mid-week. The price drop falls despite nice gains by major currencies such astezos.cryptocurrency market cap
4. Bulls:Bill Miller’s Bullish–Billionaire Bill Miller, the founder, and CIO ofMiller Value Partnerscompared bitcoin to gold and was bullish.Hedge Fund Manager: Bitcoin Price Headed to $500,000–Mark Yusko, the founder of North Carolina-basedMorgan Creek Capital Management,saidthat he is sticking by his year-end bitcoin price target of $25,000. Yusko originally madethis predictionin April, adding that he expects bitcoin to march to $75,000 by 2020, $200,000 by 2022, and ultimately eclipse $500,000 by the end of 2024.Bitcoin Could be ‘First Worldwide Currency’: NYSE Owner–Speaking withFortune,ICEfounder, Chairman, and CEOJeffrey Sprecherexplained that he believes that — bolstered byBakkt’s (ICE’s crypto subsidiary) infrastructure —bitcoincould become the currency of choice for global payments.Bitcoin Price Headed to New Highs: Crypto Hedge Fund Manager Spencer Bogart– Speaking onCNBC’s Fast Money, Spencer Bogart of Blockchain Capital reinforced his prediction that bitcoin is bound for higher price levels in the near future as he thinks that the pullback momentum may have been exhausted.Tom Lee: Bitcoin Price Recovering from Winklevoss ETF Rejection a Positive Sign– On July 27, upon therejectionof the Winklevoss bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), theprice of BTCfell from $8,300 to $7,800, by more than six percent in a three-hour period. Tom Lee says the quick recovery is a sign of a bullish sentiment.
5. Bears:Bitcoin Won’t Hit a New High This Yera: Economist Tuur Demeester–Tuur Demeester, an economist and bitcoin trader, argues in a newreportthat the market needs more time to absorb the historic 36-month rally that carried thebitcoin pricefrom sub-$250 to a peak just below $20,000 in Dec. 2017.Bitcoin Not Stable Enough to Be Used as Real Money, Says UBS Strategist–UBS global macro strategist Joni Tevessaidbitcoin is still too “unstable and limited to become a viable means of payment for global transactions or a mainstream asset class.” Teves also cited the crypto’s lack of price stability as one of the reasons why Bitcoin can’t be considered as real money.
• Factom Files Patent for Validating Documents on the Blockchain– Factom (FCT) has filed a newpatentwith the U.S. Patent & Trademark Office that allows verification of documents on a blockchain with multiple digital signatures.
• Hedera Hashgraph Raises $100 Million At $6 Billion Valuation– Hedera Hashgraph, a U.S. based distributed public ledger that plans to offer a cryptocurrency, a file storage service, and a smart contract platform, has raised $100 million. The company is looking to raise another $20 million in a crowdsale.
• High Times Launches First Ever IPO to Accept Bitcoin, Ethereum–High Times, a prominent New York publication advocating cannabis usage, is breaking new ground in the cryptocurrency world by accepting crypto during its IPO, the first ever stock offering to do so.
• Coinbase Brings Crypto Payment Option to Millions of Online Businesses– Coinbase Commerce, a cryptocurrency payment provider, has announced a series of initiatives to support crypto commerce, including a WooCommerce plugin to give millions of merchants the option to accept cryptocurrencies, the ability to send bitcoin and litecoin directly, and other new capabilities.
• Canaan Unveils First-Ever Bitcoin Mining Television– Canaan Creative has launched what it hopes will be the future of the blockchain and the first of a series of releases that will improve its position as it battles for increased market share in the bitcoin mining device market.Criticsinsist that the device is little more than a self-promotion gimmick as the company prepares for it’sIPO, offering no real utility to users.
• Cryptocurrency Bank Galaxy Digital Which Lost $134 Million in Q1 Is Going Public– According toBloombergGalaxy Digital LP — will be listed for trading on theToronto-based TSX Venture Exchangeon August 1st. The company is using areverse takeoverof an existing firm to be listed.
• Biggest Stock Exchange Operator to Launch Bitcoin Market–Intercontinental Exchange, the owner of the New York Stock Exchange, has announced that will list a physically-settled bitcoin futures contracts and form a new company whose mission is to make bitcoin a mainstream financial asset.
• OKEx Initiates ‘Clawback’, Injects 2500 BTC– OKEx has moved to protect its futures market with an injection of 2500 BTC into the exchange’s insurance fund from its own capital after a forced liquidation on July 31st threatened to destabilize its operations. The futures contract amounted to a staggering $420 million worth of BTC. OKEx moved swiftly to counter this liquidation with a series of measures that were announced on its website.
• Coinbase Adds British Currency Support–Users at Coinbase will now be able to deposit and withdraw funds in British Pound, the companyannouncedon Wednesday. Coinbase, being an exclusive digital currency firm, has obtained a bank account in the U.K. The company already has ane-money licenseissued by the U.K.’sFinancial Conduct Authority(FCA).
• Robinhood Opens Crypto Trading to Georgia Residents–Robinhood, a commission-free stock trading platform,announcedthat residents in the state of Georgia can now invest in cryptocurrency through the app. The move follows theapp’s launch of Robinhood Cryptoin early 2018, its subsequent rollout in four states, and comes in the wake of a$363 million funding round.
• Coinbase Bug Prevents Canadian Users from Withdrawing Funds–An issue with Coinbase systems recently prevented users from Canada and a number of other countries from withdrawing funds, leading to frustration and concern among many customers. In astatementto CCN, Coinbase claimed the issue was a bug.
• Ex-FBI Director Louis Freeh Opens up about Tether Investigation– In arecent interviewwith Yahoo Finance, former FBI Director Louis Freeh (of FSS) answered questions about the Tether investigation and the public’s reactions to the firm’s work. He discussed the“transparency update”that was compiled by FSS after they were granted full access to bank accounts, statements, and spoke with some employees at banks holding Tether assets and responded to criticism that the investigation did not constitute an official “audit.”
• UPbit Comes Out Clean in Audit after Raid– UPbit, currently the biggest crypto exchange in South Korea, came out clean in an audit report which proved the exchange had 100 percent of the amount its balance sheet demonstrated. The audit comes following araidby local authorities under the suspicion of balance sheet manipulation and inflated volumes.
• Thai Bond Market Association to Incorporate Blockchain Technology–TheThai Bond Market Association(TBMA) plans to implement a new registrar service platform combining financial technology with blockchain technology. There are ongoing plans to put it to practice during the current year to improve the growth of the secondary market.
• Binance Buys Ethereum Wallet Service in First-Ever Acquisition–Binance, one of the world’s two largest cryptocurrency exchanges, has just completed its first-ever acquisition ofTrustWallet. According toTechCrunch, the Malta-based exchange operator acquired Trust Wallet, creator of the eponymous mobileEthereum walletthat includes support for ether, as well as ERC-20 and ERC-223 tokens. Terms of the deal have not been disclosed, but Binance confirmed that it included a mixture of cash, Binance stock, and Binance tokens.
• Bitmain Made $1.1 Billion in Profit in Q1–Citing an email obtained from a source close to the China-based firm,Fortunereports that Bitmain — best known for manufacturing bitcoin mining equipment — raked in $1.1 billion in profit during the first quarter of 2018. Conservatively, the company expects to earn $2 to $3 billion in profit for the fiscal year. Remarkably, those figures place Bitmain nearly on par with chipmaking giantNvidia, whoreporteda net income of $1.2 billion during the first quarter and has a ~$150 billion market cap.
• Walmart Files Patent for Smart Appliance Management–Walmart has filed anotherpatent applicationin the blockchain sector entitled “Managing Smart Applications Using Blockchain Technology.” The filing follows a number of previous applications for blockchain patents including blockchainpackage delivery systems,medical record storage systems,food safety, and ablockchain-based digital marketplace— some of which we dove into on thethird episode of the CCN Podcast.
• Report: Blockchain to ‘Reach $2 Trillion by 2030’–IHS Market, a data analytics firm in the fields of finance and technology, released a Julyreportthat forecasts blockchain technology could lead to a business activity value of $2 trillion by 2030. The report includes all value that blockchain adds as an entire vertical (not specific coin market caps). Many think this is too conservative considering the market’sproximity to $1 trillionduring the 2017 bull run.
• Bitcoin Price Must Hit $213,000 to Become Viable USD Replacement: UBS– According to a newreportfrom Swiss investment bankUBS, Bitcoin’s price must reach $213,000 to replace the estimated $3.63 trillion worth of USD in circulation, commonly referred to as the M1 or “narrow money” supply.
• Square Seeing Growth in BTC User Base: CFO– Square Inc. Chief Financial OfficerSarah Friarhashailedthe impact of bitcoin support on the company as it continues to record strong growth driven primarily by its flagship Cash App, also known as Square Cash.
• Rogue Qiwi Employee Lost 500,000 Bitcoins in Attempted Theft–In 2011, theQiwi GroupCEO learned that his company computers minted 500,000 bitcoins, unbeknownst to him at the time. At the time, he did not know what bitcoin was, let alonebitcoin mining. After an investigation, he learned his chief technical officer minted 500,000 coins worth $5 million in three months, an amount that is now worth billions of dollars. The story came to light this week in a lecture at theMoscow School of Communications
• North Carolina Bans Crypto Campaign Donations–North Carolina hasbannedelectoral candidates in the state from accepting campaign donations made in bitcoin and other cryptocurrencies. The decision came in response from the North Carolina State Board of Elections Campaign Finance Office to Emmanuel Wilder and cited concerns over anonymity. The ruling follows similar rulings by theKansas Governmental Ethics Commissionand an incident in whichAustin Petersenwas forced toreturn$130,000 in bitcoin. The Federal Election Commissiondoes allow bitcoin donations.
• Korean Financial Watchdog Calls for Stock Trading on a Blockchain–TheFinancial Supervisory Service(FSS) has advocated the use of blockchain for stock trading in a report focused on the subject released on Thursday. In a significant backing of the technology, the FSS called on the country’s regulatory agencies and firms to jointly work and develop an integrated blockchain system that negates the use of a conventional centralized ledger and system to track transactions.
• Mining Firm Reopens in U.S. after Regulators Revoke Cease & Desist Order–Genesis Mining, a provider of managed cloud mining,announcedthat it is resuming operations in the United States after South Carolina regulators withdrew a cease and desist order against the firm. Contracts serving U.S. residents have been disabled for five months up until now.
• UK Researches Use of Blockchain Smart Contracts In Law–The U.K. Law Commission is in the process of codifying the use of smart contracts into British law as part of an ongoing effort to update British law and make it relevant to of the challenges of modern technology. If the legal reform is successful, the U.K. will become one of only ahandfulof jurisdictions that legally recognizes smart contracts.
• Bitfi Not Paying Out for McAfee Wallet Hacking Bounty– John McAfee’sBitfibitcoin wallet has allegedly been hacked after its creator issued a $250,000 hacking challenge. In response to claims OverSoft, Bitfi issued a comprehensive denial of these claims, accusingOversoftof working for its competitors and reiterating its $250,000 bounty.
• Report: Security Issues in Telegram Passport–Virgil Security, Inc., a cryptographic services provider, has published areportwhich raises concerns regarding the security ofTelegramPassport. The report focuses on Telegram’s use of the cryptographically weakSHA-2 hashing algorithmwhich has been used in the past to hackLinkedIn.
• Bithumb Re-opens Deposits & Withdrawals– South Korean cryptocurrency exchangeBithumbresumed deposit and withdrawal services on Saturday at 11 am KST. The exchange had suspended all deposits and withdrawal services on its platform following theJune hackon a hot wallet, which led to the loss of tokens valued at over $30 million.
Featured Image from Shutterstock
The postBitcoin Price Drops, IPO’s and an NYSE Bitcoin Market: This Week in Cryptoappeared first onCCN. || Bitcoin Unravels as Goldman Says No and Bears Cry Foul: Bitcoin slid by 8.81% on Wednesday, reversing Tuesday’s 1.23% gain with venom, to end the day at $6,710.7.
A particularly range bound start to the day saw Bitcoin hover at the 38.2% FIB Retracement Level of $7,376, with Bitcoin managing to move back through to $7,400 levels with a morning high $7,404 before the cryptomarket bombshell hit the news wires.
News of Goldman Sachs hitting pause on its plans to roll out a cryptocurrency trading desk hit the wires, leading to a late morning sell-off across the cryptomarket, with Bitcoin sliding through the day’s major support levels to a morning low $6,921.5 before steadying through the afternoon, support at the day’s third major support level at $7,000 kicking in to fend off more severe losses.
A second sell-off late in the day saw Bitcoin slide to an intraday low $6,700, the second sell-off removing the chances of a swift return to $7,000 levels, with Bitcoin pulling back through the 23.6% FIB Retracement Level of $6,757.
While the news of Goldman Sachs hitting pause raised concerns over the much talked about inflows of institutional money needed to steady a particularly volatile cryptomarket, news of cryptocurrency manipulation weighed further, with reports hitting the news wires of a sizeable short position being placed ahead of the late morning sell-off, pointing to market manipulation.
For the market, Goldman’s announcement may be a bigger issue, but with the SEC currently reviewing the rejection of 9 Bitcoin ETF applications, any noise of market manipulation and that could be the end of any near-term hopes of an approval for a Bitcoin ETF and may well result in regulators coming up with more debilitating rules that would really spell trouble for the Bitcoin bulls and the broader cryptomarket.
And, when it rains it pours, with reports hitting the news wires in the early hours of this morning of Bruegel, a Belgian think tank, releasing a report stating that cryptocurrency and ICO regulations should be introduced by the EU for the region. While think tanks tend to have little influence, it was reported that Bruegel’s report will likely be distributed to EU ministers ahead of Friday and Saturday’s gathering of EU finance ministers who have cryptocurrencies to discuss.
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At the time of writing, Bitcoin was down 3.89% to $6,443, with Wednesday’s reversal continuing into the early hours of this morning, Bitcoin sliding through the day’s first major support level at $6,472.47 to a start of a day morning low $6,302.2 before recovering to $6,400 levels. An early morning $6,731.3 high left the first major resistance level at $7,176.47 and the 23.6% FIB Retracement Level of $6,757 untested.
For the day ahead, a move back through the morning high $6,731.3 would support a run at the 23.6% FIB Retracement Level of $6,757 to bring $7,000 levels into play, while we would expect Bitcoin to fall short of $7,000 levels and the day’s first major resistance level at $7,176.47 on the day, with Bitcoin likely to face plenty of resistance at the 23.6% FIB Retracement Level.
Failure to move back through the morning high $6,731.3 to take a run at the 23.6% FIB Retracement Level of $6,757 could see Bitcoin take a bigger hit later in the day, with a slide back through to $6,300 levels bringing the day’s second major support level at $6,234.23 into play, Bitcoin having failed to break back through the first major support level at $6,472.47 in the early hours of this morning.
Thisarticlewas originally posted on FX Empire
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• Gold Price Forecast – Gold markets rally on Wednesday || Tyson Foods, Inc. (TSN) Q3 2018 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Tyson Foods, Inc. (NYSE: TSN) Q3 2018 Earnings Conference Call August 6, 2018, 9:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning. And welcome to the Tyson Foods third quarter earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the * key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press * then 1 on your touchtone phone. To withdraw your question, please press * then 2. Please note this event is being recorded. I would now like to turn the conference over to Kon Kathol, Vice President of Investor Relations. Please go ahead, sir. Jon Kathol -- Vice President Investor Relations Good morning. And welcome to the Tyson Foods, Incorporated third quarter earnings conference call of the 2018 fiscal year. On today's call are Tom Hayes, President and Chief Executive Officer and Stewart Glendinning, Chief Financial Officer. Slides accompanying today's prepared remarks are available as a quarterly supplemental report on the investor relations website at ir.tyson.com. Tyson Foods issued an earnings release this morning which has been furnished to the SEC on form 8-K and is available on our website at ir.tyson.com. Our remarks today include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements reflect current views with respect to future events such as Tyson's outlook for future performance on sales, margin, earnings growth, and various other aspects of its business. These statements are subjects to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. I encourage you to read the release issued earlier this morning and our filings with the SEC for a discussion of the risk that can affect our business. I would like to remind everyone that this call is being recorded on Monday, August 6th at 9:00 a.m. Eastern Time. A replay of today's call will be available on Tyson's website approximately one hour after the conclusion of this call. This broadcast is the property of Tyson Foods, and any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of Tyson Foods is strictly prohibited. Please note that our references to earnings per share, operating income, and operating margin in today's remarks are on an adjusted basis unless otherwise noted. For reconciliations to our GAAP results, please refer to this morning's press release. I'll now turn the call over to Tom Hayes. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Thomas Hayes -- President and Chief Executive Officer Okay. Thanks, John. And good morning, everybody. Thanks for joining us today. While our business continued to grow in the third quarter, we are clearly not satisfied with our results, particularly in our chicken segment. Intertwined with uncertainty in trade policies and tariffs are increasing supplies of relatively low-priced beef and pork that are competing with chicken. Typically, in Q3 and Q4, we expect strong chicken demand driven by the grilling season and normal summer feature activity. Instead, cold Memorial Day weekend weather curbed demand while competing proteins displaced chicken in retail and food service promotions. To recover, we are aggressively addressing costs and capturing new feature activity. And by keeping our inventories low, we can quickly react to market changes. Rising freight costs have been a challenge for all of our businesses. We now expect freight to be about $270 million more this year compared to last year with a net effect for FY18 estimated to be around $0.43 per share. On a run-rate basis, we recovered about 85%. And we plan to reach 100% once our longer-term contracts expire and new pricing terms take effect. Our efforts to recover price are likely curbing short-term growth. We are growing, but not as fast as we could be and not as fast as we want to be. Despite the current trade issues, global protein demand continues to grow. Our products are moving in the export markets, albeit at lower values. We're working to strengthen our existing relationships to certain markets and build inroads into new markets. In Q3, we demonstrated the value of playing across all proteins. We delivered strong results in our beef and prepared food segments, offsetting lower margins in chicken and pork. Sales volume of value-added products was up 2.6% compared to third quarter last year. We're managing costs tightly across the company. Ongoing financial fitness savings were $66 million in the quarter and $168 million year-to-date. We're on track to exceed our $200 million target this year and an incremental $400 million over the next two years. Having this cost program and the continuous improved mindset already established has proven to be beneficial when facing the current challenges in the market. While we're focused on costs, we're also making strategic investments in our people and our business. Our efforts to improve employee satisfaction are already improving results with improved safety and retention in tight labor markets. Our CapEx investments are yielding real P&L benefits by driving innovation and improving supply chain capabilities and production flexibility. Now I'm gonna ask that Stewart takes us through the financials as well as our segment results in beef, pork, chicken, and prepared foods. Stewart? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Thanks, Tom. And good morning, everyone. Third quarter EPS of $1.50 is up 2% compared to Q3 last year, excluding the $0.20 tax benefit. As we announced last week, we revised our annual EPS guidance down to $5.70 to $6.00 per share. Our original forecast was underpinned by a strong fourth quarter, but we saw market weakness carry over from the end of Q3 into the first three weeks of Q4 when we had been expecting improvement. While external factors continue to pressure our business, we believe in our ability to create long-term shareholder value. There are many positives to focus on: our business model, our diversified portfolio, and our ability to generate cash. Year-to-date operating cash flows are very strong at $1.9 billion which is up 33% compared to last year. Third quarter revenues were up 2% to more than $10 billion with total company volume up 30 basis points. Operating income was $816 million, up 8% versus Q3 last year. And total company return on sales was 8.1%. $328 million in capital expenditure outpaced depreciation by $144 million, as we continue to invest in projects with a focus on delivering returns well in excess of our cost of capital. Through the third quarter, total share repurchases for the year were five million shares for $367 million. Our adjusted effective tax rate for the third quarter was 25.2%. Net debt to adjusted EBITDA was 2.3 times. Excluding cash of $170 million, net debt was just under $10 billion. And total liquidity was $894 million at the end of Q3. Net interest expense was $87 million in the third quarter and $257 million for the first nine months of the year. We expect approximately $275 million of incremental cash flow in fiscal '18 as a result of tax reforms. And now, I'd like to review our performance and provide an initial outlook for our business segments. The beef segment performed very well in Q3 with operating income of $319 million and an 8% operating margin. Compared to the third quarter last year, sales volume increased 2.7%. And while average price decreased 2.8%, revenue remained relatively flat. Beef results were driven by strong demand and increased availability of capital near our plants. Demand for our case-ready products continues to grow. And we're also seeing sizable growth in our premium programs, including Certified Angus Beef, Open Prairie Natural, and Chairman's Reserve Certified Premium. With the beef segment strong performance, we believe it will finish fiscal 2018 with operating margin above 6%. And similar results expected in fiscal 2019. The cattle supply appears to be set up well for fiscal '19, and supplies should be adequate into 2021. In the pork segment, we generated operating income of $67 million with a 5.6% margin. Revenue was down due to a 2.1% decline in volume and 7.4% lower average price. A supply/demand imbalance compressed our pork margins, exacerbated by reduced export values. Pork prices are down by more than $6.00 per head, but hog costs did not follow. We will continue upgrading our mix to more value-added products. And we're moving more pork into prepared foods whenever possible. While this will lead to higher, more stable margins over time, currently, the operating environment for pork is difficult, leading us to believe our pork segment operating margin will be around 6% for the year. We expect hog supply to increase approximately 3% in fiscal 2019, providing a sufficient supply for our plants. Tariffs and trade concerns could continue to affect product pricing. Based on the current market environment, we expect an operating margin of around 6% for the pork segment next fiscal year. The chicken segment generated operating income of $196 million in the third quarter with a 6.6% operating margin. Revenue increased on 3.7% average higher price while volume remained relatively flat. The segment benefited from $25 million in financial fitness savings in the quarter. Chicken segment results were challenged by soft demand due to relatively low priced competing proteins. Additionally, chicken experienced export headwinds, increased freight, labor, and feed costs, and $20 million in non-recurring charges. We're focused on growth, innovation, value-added capabilities, and customer partnerships which is why, over the long-term, our chicken segment has demonstrated higher margins and more stability. Currently, however, results will remain challenged as customers shift from chicken to relatively lower-priced beef and pork. As a result, we expect an operating margin of around 8% in fiscal 2018 and similar results in 2019. Our prepared foods segment performed well in Q3 and is building momentum with $249 million in operating income and an 11.7% margin. Revenue increased with average price up 6.8% while acquisitions drove the 2.7% volume increase. We're growing sales dollars across nearly all major categories and leading in competitive categories. The strong top- and bottom-line improvement is attributed to acquisitions, investments to drive volume, positive net price recovery, and $39 million in financial fitness savings. Operating income was also affected by higher input and freight costs. With prepared foods momentum continuing into the fourth quarter and fiscal 2019, we expect the segment's operating margin to exceed 11% in fiscal 2018 with similar results next year. Before we go back to Tom for his views on our distribution channels and M&A activity, I'd like to offer some thoughts on fiscal 2018 and '19. Our capital allocation priorities will continue to focus on driving shareholder value and growing the business. We will be disciplined as we pay down debt and deploy cash to grow our business organically and through acquisitions. And we'll continue to return cash to shareholders through share buybacks and dividend growth. In fiscal '19, we expect top-line sales of approximately $42 billion which would be around 3% growth over the $40 to $41 billion expected in fiscal '18. Net interest expense should approximate $345 million in fiscal '18 and '19. Our effective tax rate is expected to be around 24% in fiscal '18 and '19. We're planning approximately $1.2 to $1.3 billion in CapEx in fiscal '18 and approximately $1.6 billion in fiscal '19 as we focus on growing and improving our business. Based on our average share price in Q3, we expect our average diluted shares to be around $368 million before any share repurchases. We plan to continue growing volume while stripping out costs, generating cash, and providing good returns on capital expenditures. And we have the balance sheet flexibility to drive growth. That concludes my remarks. Now back to Tom. Thomas Hayes -- President and Chief Executive Officer Okay. Thanks, Stewart. Our retail Core 9 outpaced total food and beverage volume, though it did decline slightly. Total Tyson retail declined 1.3% while volume tipped negative dollar performances positive. Pricing that was intentionally moved ahead of our peers was a primary driver of the volume decline. Within the Core 9, volume softness was driven by two specific retail categories, hot dogs and poultry. In hot dogs, we executed our profit improvement plan that saw expected volume declines driven by strategic pricing. Share declines were based on more aggressive competitor pricing during the Memorial Day period. But more recent share performance has been improving. In retail value-added, poultry volume declines were also driven by more aggressive competitive activity during what is traditionally the slowest quarter for this category. Our focus on the back half of the year has been on winning the strategic back-to-school season, and it's already off to a strong start. Other retail poultry volume challenges were driven by declining frozen, raw poultry category as consumers continue the move to fresh poultry. In the retail channel, innovation is important. And we have introduced several new products focused on convenience. In their early days on the market, Jimmy Dean Protein Packs and Jimmy Dean Eggwiches are doing well with consumers. Refrigerated Ballpark cooked burgers that are sold next to our Ballpark hot dogs are also doing well. For the in-store deli, we have a new pulled white meat rotisserie chicken product that's a labor saver for customers. In addition, continuing innovation in the dynamic meal kits sector is showing high consumer appeal on a more convenient Tyson taste-maker's item called the One-Pan Dish. In food service channel, labor remains a challenge for operators, and Tyson food service offers solutions to help free up back of the house labor and improve efficiency with cost-effective products. Our Focus 6 products and food service distribution continue the positive volume trend up 2.9% over last year. Our growth relative to our competitors has changed as we lap strong performance period and our competitors lap a period of decline. As the QSR burger war has heated up this summer, we saw fewer limited time offers promoting chicken which had a temporary impact on our sales growth. Relatively low beef prices and a public focus on burgers among QSR competitors led to some customers making late changes to the promotional schedules and opting to feature burgers rather than chicken. Looking forward to the food service back-to-school season when we expect chicken will return to playing a bigger role with key customers. Finally, I'd like to talk a bit about M&A. We're refining and growing our company as part of our strategic plans to sustainably feed the world with the fastest growing protein brands. As we focus on protein, we've sold several non-protein businesses this year and anticipate selling our pizza crust business in the fourth quarter. The acquisitions we've made are changing our company in a positive way. And AdvancePierre foods is a great example. The integration has gone extremely well, and APF has contributed an incremental $1.6 billion in revenue in its first full year as a part of Tyson. Together, we've unlocked savings and created new opportunities with customers and consumers. In May, we announced our plan to acquire American Proteins which should provide additional stability to our chicken margins. We received regulatory approval and expect to close this month. In June, we acquired Tecumseh Poultry, producer of the Smart Chicken brand. This acquisition gives us a well-known brand of organic chicken with national distribution and the ability to scale up in this fast-growing category. So, as we wrap up our prepared remarks, I'd like to reinforce the rock-solid foundation of this business. Tyson Foods is an advantaged leader in the pure growth market of protein. A unique model allows us to activate deep insight and great brands to go all in on the upside of value-added growth. A balanced presence in the major proteins stabilizes our positions across commodity markets. This model has consistently grown operating cash flow. And we've taken advantage of the options that creates through prudent capital allocation on the behalf of our shareholders. We will embrace the reality of today while simultaneously innovating for tomorrow. Our steadfast commitment to the long game ensures we'll continue to generate returns over time. That concludes our prepared remarks. And Dense, we're ready to begin the Q&A. Questions and Answers: Operator Thank you, Mr. Hayes. We will now begin the question and answer session. To ask a question, you may press * then 1 on your touchtone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press * then 2. Please limit yourself to one question and one follow-up. If you have further questions, you may reenter the question queue. And your first question will be from Ken Zaslow of Bank of Montreal. Please go ahead. Kenneth Zaslow -- Bank of Montreal Capital Markets -- Analyst Hey. Good morning, everyone. Thomas Hayes -- President and Chief Executive Officer Good morning, Ken. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Morning, Ken. Kenneth Zaslow -- Bank of Montreal Capital Markets -- Analyst So, my question is what is driving 4Q to such depressed levels? But more importantly, how does it change to get to 2019 numbers? Are you being overly conservative as you pass through the freight cost, you see the hog curve, you get more synergies? Can you talk about that and frame it a little bit? Because it just seems like there's a little bit of a disconnect. Thomas Hayes -- President and Chief Executive Officer Certainly. The biggest disappointment, as I said in my prepared remarks as it relates to our business is chicken. And we can talk certainly more about that. But why don't I tackle '19? And maybe Stewart, I'll kick chicken margins to you. The '19 environment is going to be very similar to what we faced here. But I see certainly the protein growing throughout the year. One of the things we're very focused on is continuing to take advantage of exports where we can. The tariff, and trade noise has impeded that a bit, particularly as it related to Mexico. But we feel like we're in good shape. Prepared food segments and beef obviously are doing very well. I continue to see that into the future. So, our challenges really comes down to pork and chicken. Pork is off to a bit of a slow start but improving. And we see the livestock supply will be plentiful. So, we need the exports to come through, and that's the one thing we need to make sure that happens in order for us to really maximize the model. Demand in chicken is soft. There's competing proteins at those low prices I spoke of. And we are concerned about the ability for us to continue to drive that demand up. And we want to make sure that our team is focused on doing that. But that's probably the area where we are a bit cautious because we wanna make sure we deliver those results and do it with confidence. And the value-added businesses are expected to continue in their growth trajectory. Prepared foods and chicken will benefit from a higher value-added mix. And we're happy with mix improvement. And we expect to continue to have the financial fitness savings come through, of course. So, yeah. A few headwinds as we go into the year are affecting us now. But continued higher freight costs, food inflation, all those. But we're used to dealing with those issues. Getting the freight costs and prices passed through certainly affecting volume. But if we're conservative, by your comments there Ken, that's the reason why is we have some issues to tackle. And we're all about tackling. Talk about chicken? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. Maybe just a couple of thoughts on both of those, Ken. First of all, Q4, as Tom's mentioned, some of those trends we saw in Q3, chicken and pork, we expect those to continue to Q4. And so, look at the relative performance of Q3 to last year. And I think you'd see the same thing in Q4. On the businesses that are performing well, prepared foods, we feel great about it. The business I'd just point you to is beef as you look at Q4. We've given 8% return on sales for Q3. And we're giving a 6% guidance for the full year. And so, while we expect Q4 to be really good for beef, perhaps not as powerful as Q3. So, I think that'll allow you to dimensionalize Q4. On '19, we're giving you the guidance on all the return on sales. One of the drivers that you'll see in chicken specifically is the forward-curve on grains. And the forward-curve on grains points to higher chicken prices for next year. And that's flowing into some of that estimate. So, depending on how that moves around, our own numbers will move around. Specifically, in Q4 also, we expect to see higher grain prices flowing through on chicken. So, hopefully, that helps you with some of the detail. Kenneth Zaslow -- Bank of Montreal Capital Markets -- Analyst Very helpful. And then just my follow-up is you guys have a lot of cash coming in. And I remember that you did say that there was an opportunity for you to think about buying back stock. This seems to be a good time to buy back stock. Any follow-up thoughts on that? And then I'll leave it there. Thank you. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Well, I'll just say Ken, thanks for the heads-up on that. We have got a great record of buying back stock. We bought $120 million in the last quarter, almost $370 million year-to-date. In the last three years, $3.3 billion worth of share. I think you can expect to see us at our -- we'll continue to pull the various levers of capital allocation. And stock buyback will be part of that. I won't speak to the specific quarter, of course. Kenneth Zaslow -- Bank of Montreal Capital Markets -- Analyst Great. Thank you. Operator The next question will be from Adam Samuelson of Goldman Sachs. Please go ahead. Adam Samuelson -- Goldman Sachs & Co. -- Analyst Yes. Thank you. Good morning, everyone. I guess my first question -- wanted to dig a little bit deeper on the chicken business. Thinking about some of the year-on-year declines that you're seeing in profitability and margins in the third quarter and fourth quarter. And maybe if you could bracket those a little bit by feed costs, labor, freight, grow out expense, and there are some derivative losses, and then mix. And I think one of the things that a lot of people have looked at at your company over time has been the diversity of cross-business segments in chicken between small bird and trade pack and prepared and the impact of buy versus grow. And thinking that in the current environment, there would have been more of an offset in. So, any way to dimensionalize some of those pieces would be helpful. Thomas Hayes -- President and Chief Executive Officer Sure, Adam. I'll give you some headlines, and then I'll talk about buy versus grow. I think the three main categories to think of in terms of the chicken results are the weak domestic demand, the one-time events that we called out, and the short-term headwinds that certainly are a competitive factor for us. And the weak domestic demands, the LTO shifts had a significant impact for us in the quarter, protein switching. The export uncertainty didn't help our leg orders, for sure. Estimate that most of that deviation in that area is hopefully behind us. But this is something that is affecting us about, I would say at a weak demand in the export uncertainty, about 200 basis points. Maybe about $0.10 EPS. The one-time events, the fire and the shift in production capability at one of our plants, which is a good thing for us long-term, did have some effect as well as the market to market reval when we talked about grains. The total, that's about $0.10 EPS, I'd say. And then the short-term headwinds, that will increase. Certainly, we will see those as it pertains to chicken competing with other proteins. So, we see the value of the proteins in beef and pork certainly coming down. That's gonna be a headwind. Buy versus grow, it's a benefit, for sure. And it is ongoing, a long-term benefit. But we expected more from this past quarter. We had a unusual occurrence this summer with the weakness in demand caused by cheaper pork and the LTOs that I talked about. So, our chicken volume dropped enough where we didn't have to buy nearly as much as we normally do. So, we couldn't take advantage of those low-priced products. And that prevented us from fully capitalizing on the market. So, that's the story on those two. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. And the only other thing I'd add is just to say if you looked at Q3, about 60% or so is driven by feed and logistic costs. So, that gives you a sense of impact of those. It might be helpful. Adam Samuelson -- Goldman Sachs & Co. -- Analyst Okay. that's helpful color. And then just on the pork segment, just to be clear on the guidance, your 8% year-to-date on margins to get to 6% for the full fiscal year, it would imply the fiscal fourth quarter to be near break-even. And I know packer margins are weak right now. I wouldn't have expected that magnitude of weakness. Can you talk about is it just the export issues with Mexico or on the tariffs beginning in July or something else? Thomas Hayes -- President and Chief Executive Officer Certainly, the margins are tight right now. We don't expect to be exacting on our forecasts. One of the things that you can appreciate is that there is a lot of volatility right now. That's why we have such a wide range as it relates to the full-year performance. What we have seen is we don't have trouble getting the hogs. More hogs are coming to the market. But the supply, for sure, there has been an imbalance of demand in. So, we wanna make sure that that shores up. And we have full confidence that in '19, it will based on what we know today. But right now, we're certainly making sure that we give you the number we think we can hit. Adam Samuelson -- Goldman Sachs & Co. -- Analyst Okay. I appreciate the color. I'll pass it on. Operator The next question will be from Alexia Howard of Bernstein. Please go ahead. Alexia Howard -- Bernstein & Co. -- Analyst Good morning. Hi. Can I ask about the outlook for the margins on the prepared foods business for next year? If you're maintaining this at the 11% level despite the cost-saving program coming through, is the idea that you're gonna be spending a lot more on marketing? Or is there some other offset that I'm missing? And then I have a follow-up. Thomas Hayes -- President and Chief Executive Officer Yeah. So, the margins that we have in prepared foods -- we are happy with where we are, but we want to continue to make sure that we are continuing to invest. We will make sure that our MAP spending is hitting the right levels in order to keep the growth. As you saw in the hot dog category, we had lost some share. Although, we did improve the margins. Our intention is to make sure that we are continuing to get behind our brands. And so, there will be a bit of that MAP spending. But also, innovation efforts are paying back. We're in right categories, right part of the store. But we are continuing to focus on MAP. And that's the short answer. Alexia Howard -- Bernstein & Co. -- Analyst Great. And then as a follow-up, in terms of your acquisition strategy, you've obviously done the AdvancePierre acquisition relatively recently. Do you have big appetite to do more in the not-too-distant future? What kind of assets are you looking for right now? And what's the highest leverage you've been prepared to take on to do another deal? Thank you. And I'll pass it on. Thomas Hayes -- President and Chief Executive Officer Yeah. So, talk about the same cultures as it relates to acquisition. Stewart, maybe talk about our leverage. So, we are focused on the same areas. Are they assets that are gonna bring brands, new capabilities, or new geographies to Tyson? And to the extent that they deliver some scale. So, we can take some synergies that puts us in a really strong position. So, those are the filters that we use without, of course, talking about the specific properties. We will be acquisitive where we believe it's going to be in the best interest of our shareowners. And it's focused on continuing to try to stabilize margins, improve margins over time. And that's what we've done with APF. That's what we're doing with American Proteins. And that's the strategy we're taking. Talk about leverage? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. Relative to leverage, I would say there's not a specific number that we'd be willing to go to. It is efficient I think to say that it will depend a little bit on the type of asset, No. 1. And No. 2, just to note that being investment grade is important to us. And so, we work closely with the rating agencies. Alexia Howard -- Bernstein & Co. -- Analyst Great. Thank you very much. I'll pass it on. Operator The next question will be from Farha Aslam of Stephens, Inc. Please go ahead. Farha Aslam -- Stephens, Inc. -- Analyst Hi. Good morning. Thomas Hayes -- President and Chief Executive Officer Morning. Farha Aslam -- Stephens, Inc. -- Analyst My first question relates to prepared foods. I think 2019 is when your pizza toppings plant really comes on and starts delivering the benefits of the restructuring. Could you share with us color on where we are with that pizza topping plant? Thomas Hayes -- President and Chief Executive Officer Sure. Things are looking good. We have the plant. It's up and running. And the volumes are returning back to normal levels. We're making great headway. It's much more automated than the process that we have. We've got the product quality, most importantly, in the right place that we want it. And so, we're locking in some volume commitments for our comeback, and things are looking good. Farha Aslam -- Stephens, Inc. -- Analyst And so, do you expect to get the $100 million or so benefit from that revamped pizza strategy? Thomas Hayes -- President and Chief Executive Officer We haven't broken out exactly what the margin improvement's gonna be, Farha. But suffice to say, it's baked into our projections as it relates to the margins for F19. Farha Aslam -- Stephens, Inc. -- Analyst Okay. And then just as a quick follow-up, that CapEx expenditure for next year, $1.6 billion, it's a pretty material step up. Could you provide color on what incremental projects you're gonna be pursuing next year with that -- or break down that $1.6 billion? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. What you're seeing there is carried through mostly from this year. There are a number of large projects too I would point to that are noteworthy. One is the new chicken plant in Humboldt, Tennessee. That's a very large plant. A lot of their expenditure will land in this year. So, all in one big project. The other one is a project we have under way to redo our distribution network. And those are some pretty heavy investments which have a powerful payback and are important as we move forward. Farha Aslam -- Stephens, Inc. -- Analyst And those savings are captured in your $600 million financial fitness? Or would that be incremental? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Some of the savings -- yeah. Well, they're captured either in our financial fitness or in our total forecast. So, I wouldn't add that to the top of any of the guidance that I've given you. Farha Aslam -- Stephens, Inc. -- Analyst Great. Thank you for the added color. Stewart Glendinning -- Executive Vice President and Chief Financial Officer You're welcome. Operator The next question will be from Ken Goldman of JPMorgan. Please go ahead. Kenneth Goldman -- JPMorgan Securities -- Analyst Hi. Good morning. Thomas Hayes -- President and Chief Executive Officer Hi, Ken. Kenneth Goldman -- JPMorgan Securities -- Analyst Tom, I know you don't have your long-term guidance for each segment anymore, so I'm not gonna press on the specific numbers. But there was a time not that long ago when you were saying, "Well, maybe 12% to 14% long-term is in the cards. Maybe we should be thinking about that." Not to put words in your mouth, but that was the range that we were thinking about. But now we seem to have the need for a little bit higher marketing spending than what we had in the past. And this is not uncommon. A lot of packaged food companies are talking about that. I'm just curious, is that 12% to 14% that some people still have in their mind as a reasonable range, is that still reasonable? Or does it cost more now to get the kind of sales you once needed? Thomas Hayes -- President and Chief Executive Officer You're not putting words in my mouth because I actually did say it. And it is a longer-term view that we have for the potential of the prepared foods business as we continue to do the things that we have been doing which is invest in the business, make smart acquisitions, and continue to execute the plan that Sally and the team has in place. What I've also said is that we aren't going to move margins up and then not grow the business. So, we wanna continue to grow EBIT as a prepared foods business. So, if there is a time in which we need to invest in MAP, we need to amp it up, or we need to pull back in some other areas, that is going to be certainly a lever that we'll use. So, that is exactly where we think the business can head. But it's gotta continue to grow. And I don't wanna sacrifice having a 12% or 13% margin but having the business going backwards in terms of total EBIT because we're pushing too hard for the margin, specifically. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. I would just add on top of that, Tom, to say that really, we're focused on what's the best return for our shareholders. And so, Tom's exactly right. We could push margins even higher. The question is on a growing bottom-line, is that delivering more earnings against our capital base. And I think that's the last point that I'd really leave you with which is our focus is driving the highest earnings against our capital base. Kenneth Goldman -- JPMorgan Securities -- Analyst Thank you for that. And then my follow-up, Stewart, I thought I heard you say the forward-curve on grains points to higher chicken prices. Was that specifically on the small birds where you're at least partially cost plus? I just wanted to get a sense of what that statement meant for the whole company. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. So, the question that had come from Ken was, "Hey, what's driving the dynamic in 2019?" And my answer was that one of those dynamics is higher grain costs. I wasn't pointing to the impact of pricing on birds. Just simply to say that if you looked at grain costs next year as compared to this year when you look at the forward price curve, they're higher. And so, we obviously need to continue that higher cost as we give you guidance. Kenneth Goldman -- JPMorgan Securities -- Analyst Great. Thanks so much. Operator The next question will be from Robert Moskow of Credit Suisse. Please go ahead. Robert Moskow -- Credit Suisse -- Analyst Hi. Thank you. A couple of questions. For Fiscal '18, I think you're saying raw materials flat for prepared foods compared to '17. But for fiscal '19, there's no guidance yet for raw materials. I was just thinking with all this excess supply of pork and maybe some beef, could you foresee that being deflationary and positive to margins for fiscal '19. Have you incorporated any thoughts into your margin guidance for '19 there? And then I have a follow-up. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. So, I would say that there are a lot of moving pieces here, some of which we don't wanna break out at their lowest level. That's the reason why we give you the margin guidance. We've incorporated all the factors, including the raw material costs. And we think that's a simpler and a good way for us to get that message across. Robert Moskow -- Credit Suisse -- Analyst Okay. So, you don't wanna get into specifics yet? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. I don't wanna really break that apart, 1) because I think there are a lot of moving pieces, and 2) because I think there's a competitive sensitivity to talking about some of the specifics. Robert Moskow -- Credit Suisse -- Analyst Okay. A different question. In chicken value-added business, I thought I saw a lot more announcements coming of new capacity being added by competitors. And I even thought I heard of one of your competitors picking up some trade pack business at Tyson's expense. When you're talking about the demand disappointment in the quarter, did any of that come from competitive intensity? And also, are you keeping track of all these capacity additions? And how do you feel it compares to demand, given that demand has been soft? Thomas Hayes -- President and Chief Executive Officer Absolutely. We are keeping track of all the capacity expansion. For us, we're focused on our supply against our demand. And we do certainly win some battles and lose some battles in the marketplace. But the focus is, in the long-haul, what kind of capacity do we need, not just in value-added but also fresh trade pack and the other businesses that we are trying to drive. So, the way to think about in our capacity expansions for Tyson are what are we going to need down the road, two or three years out. That's the way that we look at it. But yeah. This is a competitive business. And, of course, there's gonna be some areas that we will sometimes lose. But most of the time, we win. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. The only thing I'd say on top of Tom is that we were expecting -- when we say it's weak demand -- our volume was flat. So, it wasn't a bad outcome. It was weaker than we were expecting. We expected to see volumes up. And so, it's all a matter of ways to outcome. Robert Moskow -- Credit Suisse -- Analyst Okay. So, no change to your capacity expansion timing? Thomas Hayes -- President and Chief Executive Officer No change. Robert Moskow -- Credit Suisse -- Analyst Okay. Thank you. Operator The next question will be from Michael Piken of Cleveland Research. Please go ahead. Michael Piken -- Cleveland Research Co. -- Analyst Yeah, hi. I was just wondering if you could talk a little bit about the dynamics between small bird, trade pack, and obviously, we've seen a lot of the big bird softness. But how much of the softness and maybe recent softness in trade pack is due to weakness in big bird? And just how the various segments play off each other. Thomas Hayes -- President and Chief Executive Officer Yeah. So, certainly the big bird components, as we talked about, or I talked about, when we go into a time in which counter to how it's been in the past where those supplies are coming down and we can't advantage of it, that does hurt our buy versus grow model in terms of having the ability to maximize the potential. In terms of the other elements, we feel pretty good about the mix of our business, although we'd always want it to be absolutely as we planned. As Stewart called out, we have big plans. And we wanna make sure we hit those. But I can't give you probably, Michael, the color that you want in terms of all the individual pieces. We don't do that. Haven't done it for competitive purposes and won't break that out specifically. Michael Piken -- Cleveland Research Co. -- Analyst Okay. I guess then, maybe let me try to sling it to some way to -- it seems like your chicken business probably has more value-added components between AdvancePierre, your recent acquisitions. And I guess even if you don't wanna break out the various segments, is there a percentage of that chicken business that's commodity versus value-add that you could break out without segmenting trade pack versus small bird versus other things? Thomas Hayes -- President and Chief Executive Officer Well, one of the things we've talked about is what we planned for, ongoing, is trying to make sure that the margins are stable and growing. So, we continue to believe that we have an advantage model where, in markets where potentially, the margins are high, and we probably won't be as high as some of our competitors. And certainly, when they're low, we won't be as low. And we refer to that internally as stabilizing our margins. That doesn't mean that we're not immune to conditions of the competitive marketplace. So, our mix is good. We're hitting the lows of the industry right now, and we aren't necessarily going down to that level. But as you've seen in the highs, we don't go all the way up as well. We do have some level of insulation in our business and our brands. And as we talk about value-added, that is a clear focus for the team is to continue to build that and continue to drive the Tyson brand and more innovation. And I feel strong about the innovation plan that we have, like the success. But certainly, when you have conditions like this, it puts pressure on the model. Michael Piken -- Cleveland Research Co. -- Analyst Okay. Thank you very much. Operator The next question will be from Heather Jones of the Vertical Group. Please go ahead. Heather Jones -- Vertical Group -- Analyst Good morning. Just wanted to clarify something you said earlier. Did I understand you correctly when you were saying that some of the short-term challenges in chicken, specifically the fire, things like that, etc., were gonna abate, but you expected the pressure related to demand to accelerate into Q4? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Well, I think obviously, pressure from the fire, given it was a one-time event, certainly, that will be better because we don't expect to have it again. But just in terms of demand for Q4, I'd point you to the USDA numbers which do show an increase for Q4. We're not speaking specifically to our demand in the fourth quarter. Heather Jones -- Vertical Group -- Analyst Okay. Okay. But -- [Crosstalk] Stewart Glendinning -- Executive Vice President and Chief Financial Officer Sorry. Let me just be clear against what I said earlier that the way in which you should think about Q4 is the following, that the trends you saw in Q3 in the chicken business, you should expect to see continue into Q4. That's probably the easiest way to just think through it. Heather Jones -- Vertical Group -- Analyst And given your 8% rough guidance for '19, you're assuming that continues into '19 as well? Stewart Glendinning -- Executive Vice President and Chief Financial Officer That's correct. Heather Jones -- Vertical Group -- Analyst Okay. And then on the pork side, I don't wanna beat a dead horse and all, but when I look at the figures out there -- and a lot of y'all's plants are in the western corn belt. And if you look at the spread there, it's way better than it was in your late Q3 and actually up year-on-year. So, I'm just trying to get a sense of is this just conservatism on your part to make sure that you make the guidance? Or are you more exposed to export markets like Mexico than maybe I understood? I'm just trying to get a sense of why we're seeing such an improvement in the markets but your guidance actually implies a much worse Q4 than Q3. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Well, let's go through a couple things. So, first of all -- and again, I go back to the point that I expect some of the trends to continue in our business from Q3 into Q4 relative to pork and chicken. When you take the Q4 specifically, I go back to the answer I gave earlier which is to say that the Q3 margins in beef were 8%. And our full-year are 6%. And so, the only way the math works there is that beef is expected to be strong in Q4 but not as strong as Q3. And that's an easy one to overlook just because of the size of beef. Heather Jones -- Vertical Group -- Analyst My question was on pork. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Oh, it's specifically on pork? Heather Jones -- Vertical Group -- Analyst It's specifically on pork because in pork markets, specifically, there's been a really, really dramatic improvement in last few weeks. But yet, y'all's guidance is for it to get materially worse. And I'm just trying to figure out is that y'all being conservative? Or is there some other factor that we can't see that would drive that kind of deterioration? Stewart Glendinning -- Executive Vice President and Chief Financial Officer For us, the trends that we're seeing in the market -- and we have, of course, the benefit of July under our belts already -- is that we see those trends continuing through Q4. There are some differences, of course, between the various processes in the marketplace. Of course, we are less integrated than others. And so, our prices may float around a little bit more. We had expected to see some improvement in Q4. And we do expect to see some improvement in Q4. But relative to last year, we don't expect to get back to the same levels that we saw then. Heather Jones -- Vertical Group -- Analyst Okay. Thank you so much for the clarity. Operator The next question will be from Michael Lavery of Piper Jaffray. Please go ahead. Michael Lavery -- Piper Jaffray & Co. -- Analyst Good morning. Thank you. Just sticking with pork, if you are seeing some of these 3Q trends continuing, how much does the recovery for you depend on improvement in exports? And what would be the catalyst for that if so? Thomas Hayes -- President and Chief Executive Officer Yeah. Certainly, exports are huge. Now, let me talk about beef and pork for a minute just to put some perspective there. The value of the cutout was down about 4% in beef Q3 versus last year. Pork was about 9-ish% to Q3. So, that's total for Tyson of about $600 million lower in beef revenue and $400 million lower on pork revenue. The majority of that is due to the pressure that the issues with Mexico has created. So, for us in the pork business and the beef business, having those markets return to stable, not the uncertainty that exists today is incredibly important. So, for us, that's what we're focused on is that we need to have those markets clearly open to us. And by the way, those numbers I gave you are annualized numbers. But the thing that is most concerning is to have all this disruption continue. So, exports absolutely are a huge part of the equation. Michael Lavery -- Piper Jaffray & Co. -- Analyst And just to be clear, your assumption is for improvement? Or not necessarily? What's on your 2019 guidance number for pork? Thomas Hayes -- President and Chief Executive Officer We don't have an assumption that they are going to improve. It's the steady state that we have today because we just don't know. It's hard to predict. If you have an answer on that one, happy to hear it. But as it relates to trade and tariffs, it's an open debate. And we expect it's gonna stay open for some time. Michael Lavery -- Piper Jaffray & Co. -- Analyst And how much opportunity do you see for gray market adjustments or third-party country workarounds? Is that something you see evolving? Is that an offset that could help? Or is it too early to say? Hard to handicap? How much of a factor could that be? Stewart Glendinning -- Executive Vice President and Chief Financial Officer That is a question actually that would be very, very difficult for us to answer. This whole tariff scene has just emerged. Various protein producers are trying to wrestle with it. And it would be difficult for us to give you an accurate answer on that. Michael Lavery -- Piper Jaffray & Co. -- Analyst Okay. Thank you very much. Operator The next question will be from Ben Theurer of Barclays. Please go ahead. Benjamin Theurer -- Barclays Capital -- Analyst Good morning. And thanks for taking my question. Just wanted to follow up quickly on beef and the comments you've put out with the extrications for the upcoming quarter. So, if we put it all into context and if we take a look at the volume change performance, clearly, there seems to be an incremental demand for beef just because the pricing environment is so attractive. And we've seen it in the quarter. Volume was up almost 3%, but price was down roughly 3% which brings it to that more or less flattish sales figure. But if we take a look on the year-to-date business, actually, volume's up 3%. Prices are up 2%. So, to get your guidance, what you talk about was that weakness into that 4Q right, what are you expecting to see in terms of volume and price on beef specific in order to actually get to the point that margins are significantly lower on a sequential basis to make up that just 6% plus margin? If you could clarify that, would be much appreciated. And then I have a follow-up. Thanks. Stewart Glendinning -- Executive Vice President and Chief Financial Officer Thanks for the question. I think it's a good one. So far, we've tried to stay away from giving specific quarterly guidance. And I think that's one of the reasons why we give you that bottom-line estimate, so that -- and some of the sense of what the trends are. But beyond that, I wouldn't wanna get in and break out specifically what I see is gonna happen in price and volume. Benjamin Theurer -- Barclays Capital -- Analyst Okay. And the environment into next year then, assuming basically a similar environment in beef as for 2018 full-year, would you expect the dynamics to continue to be the ones that you have? Beef as a cheaper overall source of protein becoming just more attractive, and hence the more conservative outlook on such of the segments such as chicken but definitely a more optimistic outlook on beef. Is that a fair assumption? Thomas Hayes -- President and Chief Executive Officer We do have an optimistic outlook, Ben. I'd say that we have good visibility into 2021. And at this point, what we've talked about in our prepared remarks, that's good because we do see the number of animals that are out there. Going back to the export discussion, we need to make sure that that is a continually open access to those countries absorbing the increased production. Our business is a spread business. And so, the margins will come through when we have the cattle process and we have a good balance. And by the way, we are in the right regions, as we talked about in the past. It's a very good environment. You might feel us be a little bit hesitant because we wanna make sure that we're giving the right projections for you. But we do like where beef sits right now and all the way out until '21. Benjamin Theurer -- Barclays Capital -- Analyst Okay. Perfect. Thanks. Operator The next question will be from David Palmer of RBC. Please go ahead. David Palmer -- RBC Capital Markets -- Analyst Thanks. Good morning. Just a follow-up on chicken. It looks like Tyson's margin gap to the peer processors in that chicken segment converged margin-wise. In the past, your value-added mix, that small-, midsize bird mix were helpful, or at least we thought, versus those peers. You mentioned a couple times in your prepared remarks where you led off with that promotion bias by chains toward burgers lately. And that's certainly been the case by a couple of the big guys. But I guess I'm a little surprised by that being your header as to a reason for the margin decline in chicken. So, could you give us a sense of a ranking of the factors for chicken? And is that really looming large? And should we think about LTOs from the big chains going forward as a big factor? Thanks. Thomas Hayes -- President and Chief Executive Officer They are a big factor. As it relates to our forecast, we had those in, and they were out. Think about the burger LTOs, David. Those were up 23-ish%, something like that. Chicken LTOs and food service were down 13%. So, when you look at the national accounts, it was a huge number. And that's, of course, a big part of our business. So, it does affect our margins. We need to have the right mix around us. And we are focused on what we can do to influence that. But for sure, you're right. It is a big impact. David Palmer -- RBC Capital Markets -- Analyst And then as far as the midsize, small bird margins, particularly on that side of the business, is that holding up OK? And is that gonna be more of essentially, a feed cost dynamic going forward? Thomas Hayes -- President and Chief Executive Officer Again, we don't break out our margins by bird size, but we do -- I guess you're coming at it from another angle. But we do like where we're positioned as it relates to our small bird business, for sure. David Palmer -- RBC Capital Markets -- Analyst Okay. Thank you. Thomas Hayes -- President and Chief Executive Officer You're welcome. Operator The next question will be from Akshay Jagdale of Jefferies. Please go ahead. Akshay Jagdale -- Jefferies -- Analyst Hey. Good morning. Thanks for taking the question. I wanted to ask about your value-added, the strategy, specifically, as it relates to chicken in the context that the market -- your forward multiple has compressed significantly where now your entire business is being valued like a commodity. So, in that context, what you've said so far today is there's both external and internal factors that are driving the margin to come down as much as it has. The value-added businesses that we follow don't have 30% swings in margins over a quarter. And that's what seemed to have happened in the chicken business. But I'm in agreement with you guys that your business long-term is actually a stable higher margin business. But can you just put into context how much of the guidance change going from plus ten to eight for the full-year is external versus internal, roughly, ballpark, just so that we get a sense of how much of this is long-term versus short-term? Thank you. Thomas Hayes -- President and Chief Executive Officer We haven't broken it down that way. Stewart's looking at paid shares. What I would tell you, Akshay is that the model is intact, but it's been stressed. It's been stressed by the competitive marketplace. So, we will continue to do what we have been doing. And I would say that the changes that we're going to be implementing will be really focused on driving even more value-added growth. We've had a bump in the road. But the model does hold up. So, in terms of the break out? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Yeah. I can just give you a rough sense. I'd say relative to the full-year change, about 35% or 40% I'd say for the internal factors. And the balance is external. That's the rough numbers. Akshay Jagdale -- Jefferies -- Analyst Got it. And just one follow-up, again, related to demand planning. Obviously, Tom, coming from Hillshire, that was a key competency area of competency for the company and has been a hallmark here at Tyson so far. But you're building a new plant. You're in a time when demand curve has moved lower. Can you help us understand what, if anything, you're changing internally such that your demand forecasts internally could somewhat project the things that have happened? I know it's difficult, but are you doing anything differently? Thanks. Thomas Hayes -- President and Chief Executive Officer So, we are getting some more technology around us. And I would say it's not just in chicken. But we are looking across the entire portfolio and particularly the more commoditized portions to understand how we can better predict what some of the performance is gonna be. And it is hard. Where they're commoditized, they are. I would say on the customer front, we do need to get somewhat better. And I would say, frankly, we were a bit surprised. And that's not something we like to be in a position of. The overall S&OP process, sales and operations planning process, I would say is very sound. But there's always things we can be doing better. For us, the challenge that we have is trying to make sure that the model will stand up through difficult periods. And this is a difficult period for chicken. And that's where we're gonna continue to put the stress on our team is to make sure that we are managing every single detail as tightly as we possibly can. I do feel good that they have it in hand. But if I told you I was pleased with our forecasting in every part of the business, I wouldn't be being honest. We need to make sure that our forecasting continues to get better. Akshay Jagdale -- Jefferies -- Analyst Thanks. I'll pass it on. Operator The next question will be from Jeremy Scott of Mizuho. Please go ahead. Jeremy Scott -- Mizuho Securities USA, Inc. -- Analyst Hey. Thanks. Maybe just a follow-up on that and the relationship on your margins of your value-added product versus the underlying price of the commodities, specifically in chicken. I think there was some expectation heading into this summer that as prices came under pressure, there would be that insulation, both with your value-added as well as the buy versus grow, which you talked about before. So, I guess the first question is is the elasticity of your value-added pricing living up to your expectations? And if it is or isn't, what is the breaking point in breast meat prices where the marginal cost of your further processing is outpacing the marginal revenue? And then secondly, have we become too reliant on the buy versus grow model with regards to the level of insulation it provides to Tyson when you have such demand destruction as we had this quarter? Stewart Glendinning -- Executive Vice President and Chief Financial Officer So, first of all, I don't think we're gonna talk to what point we reach marginal profitability just because I think that's competitively sensitive. We do think that our mix of products is positive. Having value-added products gives higher margins. And certainly, the kinds of customer relationships that we have also provides some of that stability. But ultimately, there's no getting away from the fact that expecting the market to hold a certain amount of volume -- and it will ultimately have that volume because those chickens are coming through -- that when there's not as strong a demand, that you're gonna see some of the downward pressure on price, relative to where you thought you would be. But it's still a good model we have. There's no question about that. I think if you looked at our relationship within the competitive US group, you'll frequently find us near the top of the rankings. Jeremy Scott -- Mizuho Securities USA, Inc. -- Analyst Okay. And just maybe on chicken for next year, I guess I was surprised a little bit that you called out margins were going to be the same as this year, considering that you had two accretive, potentially, acquisitions rolling on your books. Can you give an update there? And on the net $150 that you called out because they rolled through different segments, can you help us out with the gross impact of M&A next year? Stewart Glendinning -- Executive Vice President and Chief Financial Officer I don't have a number specifically for the gross M&A because we didn't break out the specific size of those acquisitions. But relative to the total size of chicken, they're not that big relative to total chicken which is why you don't see them moving the average so much. The external factors that you're seeing in the back half of this year are the ones that are gonna be the most significant as we work through to next year. Jeremy Scott -- Mizuho Securities USA, Inc. -- Analyst Okay. And then maybe just lastly, on earnings for next year, I appreciate that visibility might be a bit low for now, given the issues on trade. But if we assume every $1 billion in sales is equivalent to about $0.25 in earnings, would you be comfortable with a fiscal '19 number that's at or above $6.25? Stewart Glendinning -- Executive Vice President and Chief Financial Officer Well, we haven't given any EPS guidance, and I'm not gonna speak to that at this point. But I think I've given you the right building blocks so that you can make the right estimates. Jeremy Scott -- Mizuho Securities USA, Inc. -- Analyst Okay. Thank you. Operator And ladies and gentlemen, this will conclude our question and answer session. I would like to hand the conference back over to Mr. Tom Hayes for his closing remarks. Thomas Hayes -- President and Chief Executive Officer Okay. Thanks, again. Thanks for the questions today. I will say that the fundamentals of our business model haven't changed. We have a diversified portfolio, strong brands. We're set up well for long-term growth. Really appreciate you joining us and our team. Keep focused. We're very excited about what '19 will bring in the way of continued improvement. And we'll talk to you later on this afternoon. Thanks, everybody. Operator Thank you. Ladies and gentlemen, the conference has concluded. Thank you for attending today's presentation. At this time, you may disconnect your lines. Duration: 66 minutes Call participants: Jon Kathol -- Vice President Investor Relations Thomas Hayes -- President and Chief Executive Officer Stewart Glendinning -- Executive Vice President and Chief Financial Officer Kenneth Zaslow -- BMO Capital Markets -- Analyst Adam Samuelson -- Goldman Sachs & Co. -- Analyst Alexia Howard -- Bernstein & Co. -- Analyst Farha Aslam -- Stephens, Inc. -- Analyst Kenneth Goldman -- JPMorgan Securities -- Analyst Robert Moskow -- Credit Suisse -- Analyst Michael Piken -- Cleveland Research Co. -- Analyst Heather Jones -- Vertical Group -- Analyst Michael Lavery -- Piper Jaffray & Co. -- Analyst Benjamin Theurer -- Barclays Capital -- Analyst David Palmer -- RBC Capital Markets -- Analyst Akshay Jagdale -- Jefferies -- Analyst Jeremy Scott -- Mizuho Securities USA, Inc. -- Analyst More TSN analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Motley Fool Transcription has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Ripple Jumps 20.18% As Investors Gain Confidence: Investing.com - Ripple was trading at $0.36547 by 18:28 (22:28 GMT) on the Investing.com Index on Friday, up 20.18% on the day. It was the largest one-day percentage gain since August 17. The move upwards pushed Ripple's market cap up to $14.12B, or 6.37% of the total cryptocurrency market cap. At its highest, Ripple's market cap was $79.53B. Ripple had traded in a range of $0.29113 to $0.36547 in the previous twenty-four hours. Over the past seven days, Ripple has seen a rise in value, as it gained 11.2%. The volume of Ripple traded in the twenty-four hours to time of writing was $422.30M or 2.59% of the total volume of all cryptocurrencies. It has traded in a range of $0.24706 to $0.36547 in the past 7 days. At its current price, Ripple is still down 88.89% from its all-time high of $3.29 set on January 4. 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The coin is not sold on any major cryptocurrency exchange. No shops are known to accept it. The few buyers Reuters could locate were those who had posted about their experiences on online cryptocurrency forums. None would identify themselves. One complained of being "scammed." Another told Reuters he had received his tokens without problem; he blamed U.S. sanctions against Venezuela and "awful press" for hurting the petro's debut. Senior government officials have given contradictory statements. Maduro says petro sales have already raised $3.3 billion and that the coin is being used to pay for imports. But Hugbel Roa, a cabinet minister involved in the project, told Reuters on Friday that the technology behind the coin is still in development and that "nobody has been able to make use of the petro ... nor have any resources been received." Story continues The Superintendence of Cryptoassets, the government agency that oversees the petro, is a mystery. Reuters recently visited the Finance Ministry, where the Superintendence is supposed to be housed, but was informed by a receptionist that it "does not yet have a physical presence here." The Superintendence's website is not functioning. Its president, Joselit Ramirez, did not respond to messages on his personal social media accounts. Phone calls to the Industry Ministry, which oversees the agency, went unanswered. The Information Ministry did not reply to emails seeking comment. Maduro added to the confusion this month by announcing that salaries, pensions and the exchange rate for Venezuela's decimated currency, the bolivar, are now pegged to the petro. That move stirred bewilderment on Venezuela's streets and among economists and cryptocurrency experts who say the petro-bolivar tether is unworkable. "There is no way to link prices or exchange rates to a token that doesn't trade, precisely because there is no way to know what it actually sells for," said Alejandro Machado, a Venezuelan computer scientist and cryptocurrency consultant who has closely followed the petro. The chaos speaks to the desperation and disorganization that are gripping Maduro's government as Venezuela melts down. The petro was supposed to help his administration weather the hyperinflation that has rendered the bolivar all but worthless. He vowed that a cryptocurrency, which allows financial operations to be carried out anonymously, would enable Venezuela to undermine U.S. financial sanctions and raise hard currency. The government pegged the value of the petro to the price of one barrel of Venezuelan oil - currently around $66 - and promised to back it with crude reserves located in a 380-square-kilometer area (147 square miles) surrounding Atapirire. U.S. President Donald Trump in March banned Americans from buying or using the petro. Analysts are skeptical of Maduro's claims that the petro has already brought in billions in hard currency. They say digital records associated with the initial coin offering, or ICO, do not provide enough information to determine how much, if anything, has actually been raised. "This certainly doesn't look like a typical ICO, given the low level of transaction activity," said Tom Robinson, chief data officer and co-founder of Elliptic, a London-based blockchain data company. "We have found no evidence that anyone has been issued a petro, nor of it being actively traded on any exchange." A visit by Reuters to the area around Atapirire, meanwhile, showed little oil-industry activity. The only visible rigs were small and aging machines installed years ago. Several were abandoned and covered in weeds. In an opinion piece posted August 19 on Aporrea, an online Venezuelan commentary and analysis site, former Oil Minister Rafael Ramirez estimated it would take at least $20 billion in investment to tap the reserves, money that Venezuela's troubled state-owned oil company PDVSA does not have. "The petro is being set at an arbitrary value, which only exists in the government's imagination," Ramirez wrote. He oversaw the nation's oil industry for a decade under late President Hugo Chavez. Ramirez is now in exile in an undisclosed location after being accused of corruption by the Venezuelan government, allegations he denies. PDVSA did not respond to an email seeking comment. 'WE GOT SCAMMED' In contrast to buyers of well-known cryptocurrencies such as Bitcoin or Ethereum, holders of petros are difficult to find. One gathering place is an online cryptocurrency forum called Bitcointalk, where enthusiasts began posting messages in early 2018. Some initial posts were bullish. But that optimism soured as time went on. Several participants groused about a lack of information and delays in getting their coins. One complained of being unable to transfer or sell the tokens. "As of now yes we got scammed, time will tell if it was a good investment or not," a forum participant identified as cryptoviagra wrote on June 25. Another buyer, the only one to respond to questions from Reuters, said via social-media messages that his experience purchasing petros "worked pretty well overall." He blamed the U.S. ban for depressing petro sales, along with what he considered negative media coverage. He asked that his name be withheld because he feared "persecution" by the U.S. government, adding that "I don't consider Reuters to be a honest news organization." Reuters could not independently confirm whether any forum participants had invested in the petro. Cryptocurrencies gained popularity over the last decade, led by proponents who said they would lower financial transaction costs, give citizens alternatives to commercial banks and protect them from inflation induced by central-bank policies. Transactions are validated by a network of computers and recorded on a public ledger called a blockchain. Individual operations are available for anyone to see on the internet, but the identities of those involved are kept secret. The operations are secured by cryptography, the computerized encoding and decoding of data. Fevered purchases of crypto assets in 2017 drove Bitcoin's price to nearly $20,000. Its success fueled a wave of coin offerings by other startups, including scams that raised millions of dollars before being broken up by authorities. Cryptocurrency issuers seeking to provide transparency in fundraising use blockchain ledgers to show each individual purchase of the new currency. That gives potential investors a sense of how much money is flowing in, and provides a relative gauge of demand. The Venezuelan government, in contrast, has not provided a purchase registry. The petro's "white paper," a public document that describes the conditions of the offer to prospective buyers, says the principal platform for the coin is NEM - a decentralized blockchain network promoted by a Singapore-based non-profit. Owners of NEM accounts are anonymous, but can disclose their identities in the description of their coins if they wish. In March, a NEM account claiming to be operated by the Venezuelan government issued 82.4 million tokens as part of an ICO associated with a digital coin described as the petro. Those appeared to correspond to a set of "preliminary" coins described in the white paper that buyers could later swap for petros once the ICO was complete. Around 2,300 of those tokens were transferred to 200 anonymous accounts in small quantities in early May, NEM records show. That time frame is consistent with comments posted by participants on the Bitcointalk forum who said they were buying petros. If sold at the price set by Maduro based on oil prices at the time, the sale of those tokens could have raised about $150,000, according to Reuters' calculations. In April, another anonymous NEM account issued a different set of tokens that it described as part of a separate phase of the petro aimed at major investors. That account in June transferred a total of around 13 million tokens to about a dozen anonymous accounts, NEM records show. The sale of those tokens could have raised about $850 million at official prices. But there is no way to verify that those were sales, and no large investors have admitted to taking a position in the petro. Roa, the higher education minister, oversees a state agency called the Venezuelan Blockchain Observatory. He appeared to validate analysts' suspicions that the petro, at present, doesn't exist as a functioning currency. Reuters spoke with him briefly on the sidelines of a petro event in Caracas last week. Roa described the NEM transactions as "early models," adding that Venezuela was now working on its own blockchain technology. He said buyers have made "reservations" to purchase petros, but that no coins have been released. What is clear is that the petro does not trade on any major cryptocurrency exchange. Hong Kong-based Bitfinex, one of the world's largest exchanges by volume, in March said it never intended to list the petro due to its "limited utility." It officially banned the token from its platform following U.S. sanctions. Three other major exchanges - San Francisco-based Coinbase, Seattle-based Bittrex and San Francisco-based Kraken - declined to comment or did not respond to questions as to why they have not listed the petro. Maduro on April 26 announced that 16 exchanges had been "certified" to trade the petro, adding "they begin operating as of today." Most are little-known in the crypto world. Reuters could not locate seven of the exchanges, which had no internet presence. Seven others did not respond to requests for comment. Italcambio, an established Venezuelan currency exchange that Maduro said would trade the coin, does not manage or sell petros, its president Carlos Dorado said in an emailed response to Reuters. The only exchange that has publicly discussed plans to list the petro is India's Coinsecure. In an interview with Reuters earlier this month, CEO Mohit Kalra said Coinsecure within two months would provide Venezuela with an exchange for trading petros, along with technology to operate it, and that Venezuela would pay royalties for its use. Kalra did not answer calls seeking additional information. 'WHAT IS A PETRO?' Oil is the heart of Venezuela's economy. In choosing to back its petro with petroleum, the country has joined a small but growing number of cryptocurrency issuers linking the value of their tokens to physical commodities. The Royal Mint, which produces coins for the United Kingdom, in 2017 announced a gold-backed digital coin called RMG. Other tokens have emerged that are backed by diamonds. The big difference is those cryptocurrencies are tied to physical assets that can be readily traded. In contrast, Maduro promised that the petro would be backed by oil reserves that still lie deep underground near Atapirire in a bloc known as Ayacucho I. The government says the area holds 5.3 billion barrels, citing an "independent international certification agency." PDVSA did not answer an email seeking details. No matter how much oil it holds, the area lacks crucial infrastructure to get it out of the ground, including roads, pipelines and power generation, said Francisco Monaldi, a native of Venezuela who now teaches Latin American energy policy at Rice University in Houston. "There is no investment plan for this area and no reason to think it would be developed before other fields with better conditions," he said. Just locating the bloc requires significant effort. PDVSA employees who agreed to take a reporter there confused it with a different bloc. Reuters had to map Ayacucho I with GPS software using coordinates published by the government as part of the petro's creation. Meanwhile in Atapirire, residents say they have been forgotten. A fish farm that used to provide employment now lies abandoned. The town's clinic has no doctor or functioning ambulance. Many spend hours waiting along the dusty road for Chinese-made buses that serve as the only public transit into El Tigre, an important oil hub that lies 60 kilometers (37 miles) to the north. Teacher Rosa Alvarez said that around half of her first-grade class had stopped showing up because they were hungry and the school no longer provides state-sponsored meals. She says government officials have ignored her complaints. But in May the Education Ministry laid out a new mandate: Teach students about the virtues of Venezuela's new cryptocurrency. Standing before a white board earlier this year as her students giggled and chatted, Alvarez said she was stumped. "How am I going to explain that to them if nobody will tell me what is a petro?" she said. "How do I buy a petro? With what?" (Additional reporting by Anna Irrera in New York, Nidhi Verma in New Delhi and Maria Ramirez in Altagracia del Caris; Editing by Marla Dickerson)
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin-Tratsch-und-Klatsch: Wird Kim Kardashian jetzt Bitcoin-Investor? http://bit.ly/2MhXd2i || @btc_update || @btc_fan || #Vertcoin - $VTC
Rank: 145
Fiat Price: 0.71 USD | 0.00 EUR | 0.00 GBP
Crypto Price: 0.00010544 BTC | 0.00257088 ETH | 0.01241258 LTC
24h Volume: 283,302 USD
Market Cap: 32,358,453 USD
Change: Hourly 3.67% | Daily 3.67% | Weekly -0.3% || @btc_fan || @whats_a_bitcoin || @BTC_INFOCHAIN || @satoshi_BTC || #Security Podcast: Why Bitcoin Miners Target Critical Infrastructure Networks: Ronen Rabinovich from Cyberbit explains why malicious bitcoin mining malware is increasing on industrial control systems. #SecScamsHoaxAlertshttps://threatpost.com/podcast-why-bitcoin-miners-target-critical-infrastructure-networks/134561/ … || Bitcoin Whale's Bad Trade Leaves Counterparties Holding the Bag #Bitcoin #News #Headlinehttps://ift.tt/2vdQkIv
|
Trend: up || Prices: 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-09-30]
BTC Price: 609.73, BTC RSI: 56.14
Gold Price: 1313.30, Gold RSI: 43.43
Oil Price: 48.24, Oil RSI: 59.49
[Random Sample of News (last 60 days)]
America’s big banks are staffing up—for blockchain: IBM this week announced a massive internal re-organization to cater to blockchain.
It is one of many recent signs that the peer-to-peer ledger technology, which first came along with the digital currency bitcoin, hasserious future applications in big business. Or it is at least a sign that big companies are convinced they ought to examine it further.(What exactly is blockchain?Watch this primer video.)
The computing giant will create a new unit called Watson Financial Services to encompass Watson, cloud, and all blockchain-related offerings and strategy. Bridget van Kralingen, IBM’s senior VP of global banking services, will take on the role of building the unit, and take a new title, VP of industry platforms. To replace van Kralingen in global banking services, IBM has hired Mark Foster, a former Accenture executive.
IBM says that it has created new roles specifically devoted to blockchain, and will create more, but it declines to share how many.
Search for “blockchain jobs” on job sites like Monster.com and Indeed and you’ll find more than 100 at some, posted by companies like IBM, Fidelity, BNY Mellon, JPMorgan, Bank of America, Capital One, American Express, Citigroup, Cognizant and Infosys.
There are, of course, many jobs listed at companies likeCircle, a payments app that uses the bitcoin blockchain, and at Chain, which creates custom blockchains for clients like Visa, Citi and Nasdaq (see below video from May), but those are the companies you would expect. They are companies that exist squarely in the digital currency or blockchain space.
To see blockchain job openings at big banks, payment processors, or financial firms is the surprise. It suggests that blockchain tech is creating new jobs—hundreds of them, for now, not thousands.
As Computer World UK wrote in May, “Demand for distributed ledger expertise is on the rise.” (While many jobs require coding and technical proficiency, some of them are closer to traditional management positions.) And J. Christopher Giancarlo, commissioner of the US Commodity Futures Trading Commission (CFTC), wrote an op-ed in May encouraging companies to “Do no harm to the blockchain” because “American jobs depends on it.”
To be sure, blockchain will likely eliminate jobs in the long run, too, if it fulfills its promise as an efficiency-improver for big financial giants. Giancarlo had to acknowledge such in his own op-ed about the job benefits of blockchain: “Still, the blockchain revolution will not come without adverse consequences, including a likely drop in the human capital that supports the recordkeeping and transaction processing of today’s financial markets.” A report from Citi this year predicted thatblockchain and other automation in retail banking could eventually eliminate 30% of jobsat banks in the US and Europe.
“That’s absolutely right,” says Jerry Cuomo, IBM’s VP of blockchain, who will report to Van Kralingen in the new unit. “At some level, the efficiency you get from blockchain is to create more of a B2B service without the friction. And many financial services companies are the friction in the system, by design.”
But companies exploring blockchain are still in the experimenting stage, where they need to bring new people on, rather than cut people because blockchain tech has made them non-essential.
“I think the year started with blockchain tourism running rampant—in a good way,” says Cuomo. “And the tourism business is rapidly turning into hands-on engagement. I think this is where blockchain as a service really aided that desire to enable developers to rapidly experiment with applications, and business folks to witness the transformative power. Users and institutions have gone from, ‘What is this thing? I want to know more about it,’ to, ‘Okay, I’m in.’”
IBM has rolled out a bevy of new blockchain services over the last year, including its ownIBM Blockchainthat runs on Bluemix, IBM’s cloud infrastructure, and this month a newsecure blockchain platform for developersto accessHyperledger, a large-scale blockchain projectwith many different companies on board. And IBM is working on separate blockchains for specific business needs of IBM clients, such as, to name one example, dispute management.
In official press releases, the company is already calling itself “the leader in blockchain.”
But IBM is hardly the only big corporation jumping in. Intel, JPMorgan, and Accenture are all “premier level” members of the Hyperledger project, along with IBM. And Cisco, BNY Mellon, and Wells Fargo are among the general level of members.
Microsoft took a different tack, launching its ownProject Bletchleyover its Azure cloud platform in June. PC Magazine writes thatIBM and Microsoft are the two giants “defining” the new blockchain as a service (BaaS) market, and called their efforts “dueling initiatives.”
For what it’s worth, based on a check of three job web sites, IBM is hiring many more blockchain-related positions than Microsoft at the moment.
Meanwhile, a core tension still exists between the bitcoin community, where blockchain technology first came around, and those in banking and finance that want to create their own private blockchain applications. The difference is one of not just practice but theory: Bitcoin and digital currency believers feel that the very point of blockchain is to be open, “permissionless,” anonymized, accessible to anyone. Those in the banking world are alarmed by such a lack of restriction, and instead are working on safer, “permissioned” blockchains, where participants must be verified and known.
It’s also about speed, says Ludwin of Chain. Because of the limited, processing power of the bitcoin blockchain, big companies like Visa, Citi, and Nasdaq “don’t build on bitcoin, and probably won’t if the goal is to keep bitcoin decentralized.”
Cuomo of IBM has his own explanation: regulatory concerns. “We’re still very much [focused] on the permissioned blockchain, which could either be public or private, but you need a membership card to get in,” he says. “That seems to be resonating with any client or user group that falls under any kind of regulation. If the data you use falls under regulatory rule, where you need to know your customer who is accessing your data, Ethereum and bitcoin-based blockchains aren’t going to help you with that. That would be a very large group to say no to, and we’re saying yes to them.”
But Cuomo gives a caveat: no one quite knows where all of this is heading for sure. “I don’t believe there will be one blockchain to rule them all,” he says. “I believe there will be many. This is all going to take time. And I think we will get there.”
—
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @readDanwrite.
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Here’s why 21 Inc. is the most exciting bitcoin company right now || Bitcoin is money, U.S. judge says in case tied to JPMorgan hack: By Jonathan Stempel NEW YORK (Reuters) - Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co (JPM.N) and other companies. U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange. Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses. But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition. "Bitcoins are funds within the plain meaning of that term," Nathan wrote. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment." The decision did not address six other criminal counts that Murgio faces, Nathan wrote. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. "Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial," he added. Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it. Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people. That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said. Shalon has pleaded not guilty, and is being held at the Metropolitan Correctional Center in Manhattan. He hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June, a Monday court filing showed. The case is U.S. v Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-00769. (Reporting by Jonathan Stempel in New York; Editing by David Gregorio and Diane Craft) || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange. Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair. Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses. "The bitcoin was stolen from users' segregated wallets," he said. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins. Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. "Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet. "With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare. The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies. BITCOIN SLUMP Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack. Story continues Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 on the BitStamp platform. Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority. A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers. "The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis. The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation. It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company. Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities. The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal. The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small. "For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese. (Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || This infographic shows the questionable effectiveness of UN Peacekeeping missions: UN soldiers (French UN soldiers run from Sarajevo's Radio and Television building on July 27, 1993 after it came under attack by artillery shells.Chris Helgren/Reuters) The United Nations has long been a purported force for change in developing countries and other international crises. Public opinion on their undertakings have been mixed at best, with the role of UN Peacekeeping missions particularly under the microscope. Wearing their recognizable light blue berets and helmets, UN peacekeepers have been both successful in resolving conflicts and criticized for their lack of action during life-threatening emergencies. The following infographic from Norwich University Online explains UN Peacekeeping missions and seeks to explain if the missions are even effective in the long run. Norwich University Online Masters in Diplomacy NOW WATCH: The Pentagon made a move that will revolutionize thousands of soldiers' lives More From Business Insider The man who accurately predicted 5 market crashes has 3 more dates we need to worry about THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem Fintech could be bigger than ATMs, PayPal, and Bitcoin combined || THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem: Payments Ecosystem (BI Intelligence) The way we pay is changing dramatically. For example, people are beginning to use their smartphones for every kind of formal and informal transaction — to shop at stores, buy songs online, and even split their rent. At the heart of these changes in how we pay are thousands of companies competing and collaborating to facilitate transactions. To understand why the payments industry has faced so much disruption in such a short time, there's just one key thing to understand: Payments is about transferring information from one party to another, and nearly every stakeholder in the industry benefits when that process runs on digital rails. But payments is also an extremely complex industry that few fully understand. In BI Intelligence's 2016 Payments Ecosystem report, we make it simple, explaining how it works, who the key players are, and where it's headed. In this latest edition of the report, BI Intelligence drills even further into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. Story continues In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. The Payments Ecosystem Report : Everything You Need to Know About The Next Era of Payment Processing is the only place you can get the full story on the rapidly-evolving world of payments. To get your copy of this invaluable guide to the payments industry, choose one of these options: BEST VALUE : Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT More From Business Insider This finance trend is so hot even Amazon wants in THE FINTECH REGULATION REPORT: How European regulators are creating fertile ground for fintech growth The fintech ecosystem explained || REUTERS AMERICA NEWS PLAN FOR WEDNESDAY AUGUST 3: REUTERS AMERICA AFTERNOON NEWS PLAN FOR WEDNESDAY AUGUST 3
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Trump's refusal to back House speaker angers Republican Party chief
WASHINGTON - Donald Trump's White House campaign was in turmoil on Wednesday after he angered senior Republican Party leaders with his criticism of a dead soldier's family and his refusal to back the re-election campaign of House of Representatives Speaker Paul Ryan. (USA-ELECTION/ (UPDATE 4, PIX, TV, GRAPHIC), moved, by Doina Chiacu and Steve Holland, 884 words)
Muslim families of fallen U.S. soldiers driven to oppose Trump
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Washington D.C. police officer charged with helping Islamic State
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Brazil to deploy military to tourist sites, stadium security lax
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Tea Party Republican Huelskamp loses re-election bid for U.S. House
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Clinton campaign studying alternative to U.S. ethanol mandate
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Fed's Evans says one rate hike may be 'appropriate' this year
Chicago Federal Reserve Bank President Charles Evans on Wednesday offered a lukewarm endorsement of an interest rate increase later this year, despite his worry that inflation is still undershooting the U.S. central bank's 2 percent target. (USA-FED/EVANS (INTERVIEW, PIX), moved at 1 p.m., by Ann Saphir, 430 words)
OTHER U.S. NEWS
Gunman in deadly Austin, Texas shooting arrested in Atlanta
AUSTIN - A man suspected of killing one person and wounding four others when he fired shots from a handgun into a crowd on the streets of a nightclub area of Austin early Sunday was arrested without incident in Atlanta on Wednesday, the U.S. Marshals Service said. (TEXAS-SHOOTING/, moved at 1:12 p.m., by Jon Herskovitz, 216 words)
Pokemon no-go: New Jersey resident sues over trespassing players
NEW YORK - A New Jersey man has a message for the millions of players obsessed with the mobile game Pokemon Go: "Get off my lawn!" (NINTENDO-POKEMON/LAWSUIT, moved, 300 words)
Ex-NFL player Rucker gets nearly 2 years for embezzling from charities
CLEVELAND - Former National Football League wide receiver Reggie Rucker was sentenced on Wednesday to nearly two years in prison for embezzling more than $110,000 from anti-violence charities for personal use and to pay gambling debts. (NFL-RUCKER/, moved ta 12:24 p.m., by Kim Palmer, 355 words)
California wildfires likely to worsen as season peaks -forecaster
Drought conditions in California risk stoking new and ongoing wildfires as the season enters its peak, a forecaster said on Wednesday after several blazes already killed at least six people and charred thousands of acres so far this year. (CALIFORNIA-FIRE/, moved at 6:39 a.m. (TV, PIX), moved, 378 words)
'Massive' breach exposes hundreds of new SAT questions
BOSTON - Shortly after David Coleman took over as CEO in 2012, the College Board began redesigning its signature product, the SAT college entrance exam. The testing company also hired a consultancy to identify the risks associated with the monumental undertaking. (COLLEGE-SAT/SECURITY (SPECIAL REPORT), moved at 1:44 p.m., by Renee Dudley, 1923 words)
Famed flamingo Pinky dead in Florida after man attacks it
TAMPA - A Chilean flamingo named Pinky which was known for its dancing was euthanized at a Florida theme park after being badly injured by a man who reached into its pen and threw it to the ground, Tampa police said on Wednesday. (FLORIDA-FLAMINGO/ (PIX, TV), moved at 12:06 p.m., 205 words)
Man convicted in deadly Alabama church bombing denied parole
An 86-year-old white man convicted in the infamous 1963 Birmingham, Alabama church bombing that killed four young black girls during Sunday morning service was denied parole on Wednesday, prosecutors said. (ALABAMA-CHURCH/, 350 words, expect by 1:30 p.m.)
MIDDLE EAST
Hezbollah sees no immediate end to Syria war, partition in Iraq and Syria a possible outcome
BEIRUT - Lebanon's Hezbollah said the partition of Iraq and Syria was a possible outcome of sectarian fighting across the region and there was no prospect of any end to the war in Syria until after November's U.S. presidential election. (MIDEAST-CRISIS/SYRIA-HEZBOLLAH (INTERVIEW, PIX), moved at 12:01 p.m., by Samia Nakhoul, Laila Bassam and Suleiman Al-Khalidi, 937 words)
WORLD
North Korea missile lands near Japanese waters
SEOUL - North Korea launches a ballistic missile that lands in or near Japanese-controlled waters for the first time, the latest in a series of launches by the isolated country in defiance of U.N. Security Council resolutions. (NORTHKOREA-MISSILE/ (UPDATE 5), moved, 510 words)
Regional tensions test Japan's new defence minister on first day
TOKYO - Tomomi Inada will have precious little time to settle into her new job as Japan's defence minister, as events on her first day in the office underlined. (JAPAN-POLITICS/CABINET-DEFENCE (PIX, GRAPHIC), moved at 11:17 a.m., by Tim Kelly and Kiyoshi Takenaka, 676 words)
Recession ahead in Britain? Factories slow, business confidence tumbles
LONDON - British manufacturing shrinks at its fastest pace in more than three years in July and business confidence tumbles following the Brexit vote, according to surveys that show an increased chance of a recession ahead. (BRITAIN-EU/ECONOMY (UPDATE 1, PIX), moved, by Ana Nicolaci da Costa, 600 words)
South African vote tests ANC hold on cities, Zuma in focus
JOHANNESBURG/PRETORIA - South Africans vote in local elections that could see the ruling African National Congress (ANC) and its scandal-hit leader lose control of the capital and other key cities for the first time since the end of apartheid. (SAFRICA-ELECTION/ (UPDATE 3, PIX, TV), moved, by Nqobile Dludla, 700 words)
Fire guts Emirates jet after hard landing; one firefighter dies
DUBAI - An Emirates jetliner arriving from India caught fire after slumping onto the runway in Dubai on Wednesday, killing one firefighter in an intense blaze and bringing the world's busiest international airport to a halt for several hours. (EMIRATES-AIRPLANE/CRASH (UPDATE 6, TV, PIX), moved, by Noah Browning, 733 words)
Russian mayor who took on Kremlin party jailed before elections
MOSCOW - A Russian court sentenced a former mayor and vocal critic of President Vladimir Putin's allies to 12 1/2 years in jail on Wednesday in a graft case the liberal opposition said was trumped up to end its fledgling success in the regions. (RUSSIA-MAYOR/PRISON (PIX), moved at 11:12 a.m., by Andrew Osborn, 448 words)
Portugal's Guterres eyed ahead of 2nd poll for next U.N. chief
UNITED NATIONS - Former Portuguese Prime Minister Antonio Guterres could cement himself as the ninth United Nations Secretary-General when the Security Council holds its second secret ballot on Friday, some diplomats said. (UN-ELECTION/ (PIX, GRAPHICS), moved at 12:24 p.m., by Michelle Nichols, 590 words)
Canada launches inquiry into missing, murdered indigenous women
OTTAWA - Canada launched a national inquiry into missing and murdered indigenous women on Wednesday, a long-awaited look into the causes of decades of violence that have resulted in over a thousand murdered women. (CANADA-ABORIGINAL/, moved at 10:57 a.m., 312 words)
Venezuelan women seek sterilizations as crisis sours child-rearing
CARACAS - Venezuela's food shortages, inflation and crumbling medical sector have become such a source of anguish that growing number of young women are reluctantly opting for sterilizations rather than face hardship of pregnancy and child-rearing. (VENEZUELA-STERILIZATIONS/ (WIDER IMAGE, PIX), moved, by Alexandra Ulmer, 1130 words)
Venezuela names general accused of drug crimes by U.S. as minister
CARACAS - Venezuelan President Nicolas Maduro names a general accused of drug crimes by the United States as his new interior minister and removes from the cabinet his top economic official, who was viewed as a potential reformer. (VENEZUELA-POLITICS/ (UPDATE 2, PIX, TV), moved, by Andrew Cawthorne, 388 words)
Tropical Storm Earl strengthens as it churns toward Belize
MEXICO CITY - Tropical Storm Earl bears down on Central America's Caribbean coastline, strengthening as it was forecast to strike land as a hurricane, the National Hurricane Center (NHC) says. (STORM-EARL/ (UPDATE 2), moved, 251 words)
Bitcoin exchange confirms second-biggest heist in U.S. dollar terms
HONG KONG - Nearly 120,000 bitcoin worth about US$72 million has been stolen from the exchange platform Bitfinex in Hong Kong, making it the second-biggest security breach ever of such an exchange. (BITFINEX-HACKED/HONGKONG (UPDATE 2) moved, by Clare Baldwin, 300 words)
HEALTH AND SCIENCE
For pregnant women, Zika outbreak hits home in Florida
In recent days, Karla Maguire has avoided taking her toddler son to a south Florida playground where mosquitoes may be biting. She walks the dogs less frequently and rigorously applies bug repellant when she must go outside. (HEALTH-ZIKA/WOMEN, moving shortly, by Letitia Stein and Jilian Mincer, 840 words). See also: (HEALTH-ZIKA/USA-MILITARY (UPDATE 1), moved, 128 words and HEALTH-ZIKA/FRAUD (UPDATE 2, TV, PIX), moved at 12:18 p.m., by Jessica Dye, 308 words
Memory may someday benefit from electric therapy
It may someday be possible to send weak currents of electricity through the scalp during sleep to help improve memory for motor tasks, researchers say. (HEALTH-BRAIN/STIMULATION-SLEEP, moved at 11:50 a.m., by Kathryn Doyle, 402 words)
ENTERTAINMENT AND LIFESTYLE
Harry Potter casts spell again with "Cursed Child" UK sales
LONDON - "Harry Potter and the Cursed Child," the script for a new London play telling the eighth story in the hugely popular boy-wizard series, has sold more than 680,000 print copies in the UK in three days, publisher Little, Brown said on Wednesday. (BOOKS-HARRYPOTTER/ (TV), moved at 10:20 a.m., 350 words)
Second 'Fantastic Beasts' movie coming in Nov 2018, studio says
The second movie in the Harry Potter spin-off series "Fantastic Beasts" will be released in November 2018, Hollywood movie studio Warner Bros said on Wednesday, promising "much more on the horizon" from the boy-wizard franchise. (FILM-FANTASTICBEASTS/, moved at 10:35 a.m., 252 words)
Denver Broncos to acquire naming rights to Mile High Stadium
NEW YORK/WILMINGTON - The Denver Broncos professional football team will acquire the naming rights to its Mile High Stadium from Sports Authority after the bankrupt U.S. sporting goods retailer failed to find a new sponsor for the venue, according to a Tuesday court filing. (SPORTSAUTHORITY-BANKRUPTCY/BRONCOS (UPDATE 1), moved at 12:21 p.m., by Jessica DiNapoli and Tom Hals, 367 words)
BUSINESS AND MARKETS
Gains in energy, financial stocks boost Wall Street
Wall Street was higher on Wednesday after a sharp rise in oil prices boosted energy shares, while robust jobs data helped financial stocks. (USA-STOCKS/ (UPDATE 4), will be updated till close, 397 words)See also: Stocks slip for third day, dollar recovers ground (GLOBAL-MARKETS/ (WRAPUP 6), by Saqib Iqbal Ahmed, 501 words)
U.S. private sector added 179,000 jobs in July -ADP
NEW YORK - U.S. private employers added 179,000 jobs in July, above economists' expectations, a report by payrolls processor ADP shows. (USA ECONOMY/ADP, moved, 190 words)
Humana profit plunges on higher provisions for Obamacare business
Humana Inc reports a 28 percent drop in quarterly profit after setting aside more money to cover losses in its Obamacare business, and the company says next year it will discontinue most of these plans sold on public exchanges. (HUMANA-RESULTS/ (UPDATE 2), moved, by Amruthi Penumudi, 310 words)
Time Warner takes stake in Hulu, lifts profit forecast
Time Warner Inc disclosed a 10 percent stake in video streaming site Hulu on Wednesday, setting its sights on the web TV market, and it raised its 2016 forecast on expectations of sustained growth in its traditional media business. (TIME WARNER-RESULTS/ (UPDATE 5, PIX), moved at 1:37 p.m., by Malathi Nayak and Rishika Sadam, 358 words)
TIAA in advanced talks to acquire EverBank - sources
TIAA, the 98-year-old financial services firm seeking to expand in internet banking, has been in exclusive negotiations to acquire U.S. online lender EverBank Financial Corp Inc for $2.5 billion, people familiar with the matter said. (EVERBANK-M&A/TIAADIRECT (EXCLUSIVE), moved at 10:52 a.m., by Lauren Hirsch and Olivia Oran, 379 words)
U.S. frackers surprise themselves as tweaks keep adding barrels
HOUSTON - Nimble U.S. shale oil producers continue to show an uncanny ability to squeeze more and more crude from new wells, allowing them to do more with less as they try to weather another dip in oil prices to $40 a barrel. (USA-FRACKING/, moved at 1:24 p.m., by Terry Wade and Ernest Scheyder, 576 words)
Fed penalizes Goldman Sachs for use of confidential data
NEW YORK - The U.S. Federal Reserve Board said on Wednesday it had ordered Goldman Sachs Group Inc to pay a $36.3 million civil penalty for the unauthorized use and disclosure of confidential information. (GOLDMAN SACHS-FED/ (UPDATE 1), moved at 12:12 p.m., by David Ingram, 254 words) *****************
For story queries, please contact us.general- [email protected]
For photo queries use [email protected]) ***************** || 9 Best Laptops for $500 or Less: Laptops have become the choice computer for college students, business people on the go and even families at home. The Vaio Z has a battery life upwards of 22 hours; the Samsung Notebook 9 weighs less than two pounds. And while some laptops could set you back nearly $2000, there are plenty of options that are both high quality and affordable. Consumer Reports tested 137 laptops and graded them on a range of features: performance (speed on productivity apps, web browsing, multimedia and 3D games); ergonomics (keyboard, pointing device, feature accessibility and, if applicable, touchscreen); portability (battery life and weight); versatility (hardware and software, along with tech support and warranty agreements); and display (screen size, glare, clarity, color, contrast, brightness etc.). We also checked with CNET and PCWorld and found similar results. Related: The $200 Billion Technology That Will Replace Your Wallet Here are some of the best affordable laptops of 2016: 1. Asus Transformer Book T300CHI-F1-DB Overall Score: 64 Retail Price: $500 The performance of this laptop-tablet (the touchscreen detaches for a 2-in-1 device) is top-notch. The laptop responds quickly, whether running emails, word processing, browsing the web, streaming videos or playing complex games. 2. Asus VivoBook E403SA-US21 Overall Score: 62 Retail Price: $350 Asus VivoBook is great for basic web browsing and productivity applications. With a battery life over 15 hours and a weight of just over three pounds, this is a good choice if you still want a big screen (14-inches) while on the move. 3. Microsoft Surface 3 Overall Score: 61 Retail Price: $500 Although it has less memory and a small solid-state drive, this is a well-rounded laptop light, great battery, and good basic performance. It also comes with a years worth of Microsoft Office 365 Personal, which would cost you $100 otherwise. Related: Your Money: Avoid the Shock of a Fifth Year of College Tuition 4. Asus VivoBook E200HA-US01 Overall Score: 58 Retail Price: $211.15 A smaller and cheaper version of the VivoBook above, Asus 11.6 inch VivoBook is light (just over 2 pounds) and has a battery life of nearly 15 hours. Its processor preserves the battery, though sometimes at the cost of performance, which can be slow. You will probably need cloud storage since this VivoBook has only 2GB of memory. Story continues 5. Asus Transformer Book TP200SADH04T Overall Score: 57 Retail Price: $299-339 A smaller version of the Transformer Book T300CHI, with a touchscreen and very long battery life, the performance is mediocre. But it works well for simple tasks like email, word processing and web browsing. Related: Big Banks Just Got Serious About Bitcoin Technology 6. HP Pavilion x360-13t Overall Score: 57 Retail Price: $490 This 13.3-inch laptop is comparatively heavy at nearly 4 lbs, but it is versatile, able to convert to stand, tent and tablet modes. While there is a touchscreen, the full-sized keyboard and touchpad are well designed and easy to use. 7. Dell Inspiron 11 3000 Overall Score: 56 Retail Price: $180 Although its speed is mediocre, this laptop has a long battery life and is easy to carry. The matte screen reduces glare, making it a great laptop for brightly lit rooms and for outdoors use. 8. Acer Aspire E5-574-53QS Overall Score: 56 Retail Price: $389.99 The 15.6-inch Acer Aspire is one of the best value large laptops youll find. Besides well-designed keyboards and touchpads, the laptop comes with a huge 1TB hard drive. 9. Dell Inspiron I3452-600BLK Overall Score: 54 Retail Price: $160 For a 14-inch laptop, this Dell is very light, and the battery lasts nearly 13 hours. The keyboard and touchpad are great , and performance is good enough for web browsing, emails and other productivity apps. || Apollo's Rackspace deal is crushing short-sellers: Apollo Global Management just took Rackspace , one of the most heavily shorted stocks, private. The cloud services company is being acquired for $32 per share in a $4.3 billion deal , which, as Business Insider reporter Akin Oyedele notes, is a 6% premium above Thursday's closing price. It's also a 38% premium to Rackspace's closing price on August 3. So Rackspace's move to go private is harsh news for a number of its short-sellers. (To short a stock means to bet its price will go down.) Short-sellers had been adding on to their bet against Rackspace since mid-April, bringing short interest on Thursday to $404 million, according to Ihor Dusaniwsky at S3 Partners, a research firm. The short float on the stock was 12.7% as of August 15, according to Bloomberg data. And it's in the top 100 of stocks that are being sold short, according to data tracker FinViz . Rackspace (Investing.com) NOW WATCH: Theres a glaring security problem with those new credit card chips More From Business Insider THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem Fintech could be bigger than ATMs, PayPal, and Bitcoin combined This 350-foot megayacht comes with its own private 'beach' onboard || Cable & Wireless partners with Ericsson and Cisco to enhance its Caribbean IP networks: • C&W Communications invests in new network that will serve as backbone for IPTV services, fixed operations and part of business-to-business services
• Ericsson and Cisco will deliver an IP/MPLS network for C&W in three markets: the Bahamas, Jamaica and Barbados
• An IP backbone network in the Bahamas will be upgraded to support traffic growth and improve performance on the fixed network
MIAMI, FL - August 30, 2016Ericsson (ERIC) and Cisco (CSCO) today announced an agreement to supply and install IP networks forC&W Communications, which operates the retail brand Flow, in three Caribbean markets. The plans include an upgrade to the IP backbone network in the Bahamas to improve performance and support an increase of traffic, and a new business-to-business IP/MPLS network in Jamaica and Barbados.
The partnership is part of C&W`s investment plan for the region to continue transforming its customer experience. As part of the partnership, Cisco will provide the necessary hardware while Ericsson will provide project management services.
"We needed a powerful and intelligent solution to bring IP networking to both Jamaica and Barbados, while at the same time improving the IP network in the Bahamas," says Carlo Alloni, Executive Vice-president and CTIO, C&W. "This partnership will allow us to offer even more value-added services including our world class IPTV services as well as introduce more innovative solutions to our customers."
"Our teams complemented each other with the right approach, from network analysis and planning to systems integration and customer support from Ericsson, to selecting the right routers and switches from Cisco, and finally ensuring the right flow along every step with Ericsson services," says Clayton Cruz, Vice President Ericsson Latin America and Caribbean. "The partnership has delivered real value to Cable & Wireless in terms of accelerating their IP transformation by combining end-to-end business transformation competence and experience with deep product and domain expertise."
The deal includes Cisco® routers and switches (ASR9000, ASR900 and WR4500 families), supply and installation of NMS system (EPN-M), overall project management, and customer support.
"Cisco and Ericsson working together have the combined breadth, depth and lifecycle engagement required to help operators like Cable & Wireless succeed in their transformation to an IP-centric network," says Jordi Botifoll, Cisco President Latin America & Senior Vice President in the Americas. "Working together on this project will lead Cable & Wireless to a standardized approach across other markets, so that all their business-to-business and IP fixed networks will be supported by IP/MPLS, helping them do things better and faster."
Ericsson and Cisco - two industry leaders in the development and delivery of networking, mobility, and cloud - formed a global business and technology partnership in November 2015 to create the networks of the future. The partnership offers customers the best of both companies: routing, data center, networking, cloud, mobility, management and control, and global services capabilities. The next-generation strategic partnership will drive growth, accelerate innovation, and speed digital transformation demanded by customers across industries. The first product from the partnership, Ericsson Dynamic Service Manager, was announced in February 2016. To date, over 200 active customer engagements have now started to turn into won deals. Multiple deals, spread around the world, are in IP (routing and transport) and services. The companies announced deals with 3 Italy, Vodafone Portugal and Aster Dominican Republic earlier this year.
The Cisco-Ericsson partnership has been cleared by Brazilian regulatory authorities and will be implemented there under local agreements.
NOTES TO EDITORS
Ericsson and Cisco team up for next generation Network Service Management
For media kits, backgrounders and high-resolution photos, please visitwww.ericsson.com/press
Ericsson is the driving force behind the Networked Society - a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure - especially in mobility, broadband and the cloud- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries,we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world`s mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions - and our customers - stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
www.ericsson.comwww.ericsson.com/newswww.twitter.com/ericssonpresswww.facebook.com/ericssonwww.youtube.com/ericsson
About CiscoCisco (CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow`s digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.
Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco`s trademarks can be found atwww.cisco.com/go/trademarks.
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate CommunicationsPhone: +46 10 719 69 92E-mail:[email protected]
Ericsson Investor RelationsPhone: +46 10 719 00 00E-mail:[email protected]
Cisco PR ContactSara CiceroCisco Service Provider Public RelationsE-Mail:[email protected]
CWC is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
CWC also operates a state-of-the-art submarine fiber network - the most extensive in the region - in over 30 markets.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world`s largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband internet and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points.
Liberty Global`s businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
C&W Communications
Investor Relations:Kunal Patel+1 (786) 376 9294
Media Relations:Claudia Restrepo+1 (786) 218 0407
Ericsson-Cisco CW deal_Press Release_final
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Ericsson via GlobeNewswireHUG#2038210 || Hong Kong bitcoin exchange says it was hacked, trading suspended: By Gertrude Chavez-Dreyfuss NEW YORK, Aug 2 (Reuters) - Hong Kong-based digital currency exchange Bitfinex said late on Tuesday it has suspended trading on its exchange after it discovered a security breach, according to a company statement on its website. Bitfinex is one of the largest exchanges for trading digital currencies bitcoin, ether, and litecoin. It has offices in Europe and the United States and is known in the digital currency community for having a platform that has deep liquidity in the U.S. dollar/bitcoin currency pair. The company said it has also suspended deposits and withdrawals of digital currencies from the exchange. "We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the company said. "We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up." The company said it has reported the theft to law enforcement. It said it has not yet determined the value of digital currencies stolen from customer accounts. Bitfinex also said as it goes through individual customer losses, it may need to settle open margin positions, associated financing, or collateral affected by the security breach. Any settlements will be at the current market price as of 18:00 UTC (1800 GMT), the company said. The attack on Bitfinex was reminiscent of a similar breach at Mt. Gox, a Tokyo-based bitcoin exchange forced to file for bankruptcy in early 2014 after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin late on Tuesday was down 6.35 percent at $567.83 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese)
[Random Sample of Social Media Buzz (last 60 days)]
1 BTC Price: BTC-e 579.788 USD Bitstamp 577.00 USD Coinbase 582.57 USD #btc #bitcoin 2016-08-13 23:30 pic.twitter.com/QAt9DIq8Ej || #EuroCoin #EUC $ 0.000180 (-0.02 %) 0.00000031 BTC (-0.00 %) || #CannaCoin #CCN $ 0.005457 (-7.79 %) 0.00000930 BTC (-7.00 %) || #UFOCoin #UFO $ 0.000017 (50.24 %) 0.00000003 BTC (50.00 %) || 1 MUE Price: Bittrex 0.00000092 BTC YoBit 0.00000090 BTC Bleutrade 0.00000090 BTC #MUE #MUEprice 2016-09-20 12:00 pic.twitter.com/vKqWtySGpE || #MonaCoin #MONA $ 0.042241 (-3.00 %) 0.00007498 BTC (-1.54 %) || TAO Network Partners with Boogie Shack Music Group - #bitcoin News #BoogieShackMusicGroup http://bitcoinagile.com/7D60CB/tao-network-partners-with-boogie-shack-music-group-bitcoin-news_stream … pic.twitter.com/wQnm6MP2Fd… || Average Bitcoin market price is: USD 606.00, EUR 538.73 || #Anoncoin/#ANC price now: $ 0.162397, that's 0.00 % change in 1hour. 1.59 % past day, and -1.08 % in the past week! #Bitcoin is $ 576.84 || 1 MUE Price: Bittrex 0.00000074 BTC YoBit 0.00000375 BTC Bleutrade 0.00000070 BTC #MUE #MUEprice 2016-08-15 18:00 pic.twitter.com/P7RLUvzHsV
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Trend: no change || Prices: 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-08-13]
BTC Price: 11784.14, BTC RSI: 65.05
Gold Price: 1956.70, Gold RSI: 57.37
Oil Price: 42.24, Oil RSI: 58.07
[Random Sample of News (last 60 days)]
Silver Price Forecast Silver Markets Have Blowoff Top: Silver markets broke higher during the trading session on Wednesday, reaching towards the $23.35 level before pulling back a bit. At this point in time, the market then pulled back rather significantly showing that we had gotten a bit ahead of ourselves. Just 48 hours before the market was barely above the $20 handle, which shows just how over-the-top the rally has gotten. That being said, there is a lot of information and what just happened, and therefore the silver market clearly has shown what it is going to do over the longer term based upon the last couple of days. SILVER Video 23.07.20 At this point in time I like the idea of buying pullbacks as the market is obviously bullish, and a lot of short sellers in the silver markets have just gotten absolutely crushed. The last time we broke out like this the market ended up going rapidly to the upside, reaching towards the $50 level. I think we could go that far eventually, but that is obviously a longer-term call. In the intermediate term, I believe that pullbacks will continue to be buying opportunities and that is exactly what I am waiting for here. At the very least I would like to see a pullback towards the $21 level, so I think you have a couple of days of simply waiting for price to get reasonable. Anybody who thinks that the market is going to continue to go straight up in the air like it has over the last couple of days, I refer you to the Bitcoin charts for a few years ago. For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: U.S. Dollar Index (DX) Futures Technical Analysis Needs to Close Under 95.060 to Sustain Downside Momentum Crude Oil Price Forecast Crude Oil Markets Continue to Grind Upward Silver Price Forecast Silver Markets Have Blowoff Top S&P 500 Price Forecast Stock Markets Continue to Rotate USD/CAD Daily Forecast Canadian Dollar Gains More Ground EUR/USD Price Forecast Euro Takes Off || Vanguard Ran Its Digital Asset-Backed Securities Pilot in 40 Minutes: The full life of a digital asset-backed security (ABS) on a blockchain can be settled in 40 minutes versus the 10 to 14 days it would take in a paper-based setting.
That was the outcome of a pilot first revealedJune 11by mutual fund giant Vanguard in partnership with blockchain startup Symbiont, Citi, BNY Mellon, State Street and an unnamed ABS issuer.
The goal of the project: to see if the decades-old Wall Street practice of repackaging contractual debt – be it car loans, mortgages or credit card debt – into bonds sold to investors, known as securitization, can be simplified.
Related:Novogratz: Galaxy Digital Will 'Suck' if Bitcoin Fails to Become an Institutional Asset
“The overall goal is to make the car more affordable to more people,” Warren Pennington, the head of Vanguard’s Investment Management FinTech Strategies Group, told CoinDesk in an interview. “Give ABS issuers more liquidity so they can reinvest in their business, in new car loans, and help make the market for cars more efficient.”
Read more:Mutual Fund Giant Vanguard Wraps Phase 1 of Digital Asset-Backed Securities Pilot
While the pilot didn’t involve a real-world transaction, Vanguard oversaw a process that included several moving parts: packaging car loans into a special purpose entity that houses them, pricing through multiple different parties and an investment bank, working with a trustee to take care of the entity and the custodian to hold the asset and providing information to investors who want to buy or sell based on that information.
In a real-world transaction, the ABS issuer would figure out how to package loans based on loan level detail, and to work with investment banks on temporary and permanent financing. Lawyers would also have to oversee the creation of the entity.
Related:Binance Launching Crypto Exchange in the UK
“Every step of the way it’s very manual, it’s very disjointed,” Pennington said. “There’s a loss of information along the way. Investors would like to be able to see as much of the detail as they can behind the ABS.”
Smith said Citibank acted as the investment bank, taking the issuance and distributed it directly to the investor, which was Vanguard. The custodians in the pilot, BNY Mellon and State Street, allowed smart contracts to execute autonomously and used a multi-signature approach to confirm the transfer of the instrument. Each of the financial institutions also operated a node on Symbiont’s Assembly blockchain to ensure consensus.
Overall, phase one of the pilot included creating a new digital ABS issuance and recording the entire lifecycle of the security. Symbiont doesn’t tokenize securities; rather, it focuses on issuing securities that are native to blockchain.
When the next ABS issuer that Symbiont is integrated with is ready to issue a security, the company plans to go into production with the product, said Symbiont CEO Mark Smith.
Read more:Vanguard Developing Blockchain Platform for $6 Trillion Forex Market
“The limiting factor at the moment is the cadence of the issuer,” he said. “This particular issuer may not have another issuance this year. We have other issuers in the pipeline and the speed in which we can get them onboarded and to be able to do a live transaction will be dependent on their ability.”
While Vanguard is one of the major asset managers working with Symbiont, Smith couldn’t comment on whether the mutual fund giant or another financial institution would be leading the live transaction.
Starting with ABS issuance allows Vanguard to target over-the-counter (OTC) markets and also eventually work towards a future of digital loans, Pennington said.
“There’s an opportunity to extend this out to the origination of the actual loan,” he said. “Then it’s a matter of collecting the digital loans and wrapping them into an entity.”
Vanguard has been working with Symbiont since 2016 and first put the startup’s Assembly blockchain into production in February 2019 in a data distribution project for passive index rebalancing, Smith said. (Assembly is powered by theBFT-SMART consensus algorithm, a solution the company says is more private and has faster transactions times than the Bitcoin blockchain.) The project allows index data to move instantly between index providers and market participants.
Symbiont is alsodeveloping a trading platformwith Vanguard to lower transaction costs for the $6 trillion currency market. (The digital ABS pilot was the first time Symbiont had worked with State Street, a custodian bank that’s currentlyresearching digital asset custodybuthas pivotedfrom re-plumbing the back office with distributed ledger technology.)
In the digital ABS pilot, the participants did a “shadow issuance” of a real asset-backed security, Smith said.
In past efforts prior to this month’s announced pilot, Vanguard had already created a digital ABS on blockchain and moved cash between participants on-chain.
• Vanguard Ran Its Digital Asset-Backed Securities Pilot in 40 Minutes
• Vanguard Ran Its Digital Asset-Backed Securities Pilot in 40 Minutes || Bitcoin Wallet Electrum Now Supports Lightning, Watchtowers and Submarine Swaps: One of the most popular Bitcoin wallets, Electrum, now supports Lightning Network payments.
The latest swathe of major changes was released inversion 4.0, one of its biggest upgrades since the Bitcoin wallet launched in 2011. (Note: Since the 4.0 release, somebug fixes have been added.) Lightning payments are seen as the future of Bitcoin because they’re cheaper and would allow many more users to makebitcoincryptocurrency transactions at once.
This makes Electrum the oldest wallet to have adopted Lightning payments so far.
Related:CoinSwap and the Ongoing Effort to Make Bitcoin Privacy 'Invisible'
Lightning support in Electrum is a long time coming. Electrum founder Thomas Voegtlin first told CoinDesk lastsummerthat Lightning would make it into the next release.
“[We] decided to adopt Lightning because we see it as the way forward for Bitcoin. Lightning is quite complicated and not without its issues but ultimately it is the most promising currently known way of scaling Bitcoin. It also allows fast, cheap and more private payments,” pseudonymous Electrum developer SomberNight told CoinDesk in an email.
Read more:What is Bitcoin’s Lightning Network?
In order to support Lightning transactions, the developers actually wrote an entirely new implementation of the Lightning protocol “from scratch,” SomberNight said, instead of using a popular implementation, such as Lightning Labs’ LND or Blockstream’s c-lightning. That’s one reason the release took so long.
Related:Listen: What a Bitcoin Researcher Says About Lightning
In addition to support for Lightning payments, Electrum 4.0.2 now supports a number of other innovations with this new release that could make using Lightning more secure and less bumpy for users.
For one, Electrum has implemented its own Lightningwatchtower, an important component of the Lightning Network, which scans the Bitcoin blockchain in order to detect and prevent fraud.
Read more:Bitcoin Lightning Fraud? Laolu Is Building a ‘Watchtower’ to Fight It
Though there are a few watchtower implementations out there now, they still aren’t commonly used yet across the Lightning Network, despite being an important piece. In this way, Electrum’s watchtower support is a step toward a better Lightning Network.
Then, there are “submarine swaps.” Accepting payments is still a tricky part of the Lightning Network because users need what’s called “incoming capacity” to receive payments, which means funds need to be placed in a certain part of a person’s Lightning “channel,” which is sort of like an account .
The irony is users “will not be able to receive payments until they spend some money,” as SomberNight put it.
“To solve this, we implemented‘submarine swaps,’ which are atomic exchanges of on-chain and Lightning bitcoins,” SomberNight told CoinDesk. In other words, submarine swaps makes it possible to send normal bitcoin to a Lightning channel, offering one way for users to fill up their incoming capacity.
“Electrum Technologies runs a central server that facilitates these swaps, for a fee. This allows users to buy incoming capacity to be able to receive Lightning payments,” the developer added.
Electrum also integrated Lightning with hardware support. Because hardware wallets store bitcoin offline beyond the reach of hackers they are considered one of the best ways of securing bitcoin.
“You can [now] use Lightning directly with your hardware wallet: Channel-opens and channel-closes can directly pay from and to addresses backed by a hardware device. Your Lightning balance, while in channels, will not be secured by the hardware but all your on-chain balance will be, and it’s very convenient to have a shared single wallet that you can use to pay both on-chain and Lightning,” SomberNight told CoinDesk.
The Electrum team has been working on other features too. Electrum wallet users can view the full release noteshere.
• Bitcoin Wallet Electrum Now Supports Lightning, Watchtowers and Submarine Swaps
• Bitcoin Wallet Electrum Now Supports Lightning, Watchtowers and Submarine Swaps || Why This Sex Industry Executive Loves Bitcoin: Chaturbate executive Shirely Lara is a sex industry veteran who sees bitcoin as a crucial part of her business. The bitcoin-friendly porn executive talks with CoinDesk reporter Leigh Cuen about bitcoin, sex and feminism. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Bitstamp and Nexo.io . Related: Bitcoin News Roundup for August 3, 2020 Chaturbate COO Shirley Lara, one of the most experienced platform executives in the adult content industry, has been keen on bitcoin ’s potential since 2018. “We accept 20 different cryptocurrencies for token purchases. The most popular ones are bitcoin, ethereum and litecoin ,” Lara said. Experts, including Lara, estimate there “thousands and thousands” of cam girls working across platforms like OnlyFan and Chaturbate at any given time. That dwarfs the incumbent porn industry. Today, OnlyFans alone is estimated to have 60,000 content creator accounts and millions of registered viewers, despite some criticism from sex workers on Twitter. Many of the leading sex industry corporations, like OnlyFans , Chaturbate and MindGeek , appear to be owned by (relatively secretive) men, who are far removed from the public performers. Lara, who joined Chaturbate in 2011, is one of the rare examples of a woman who worked her way up to the executive level without first creating a personal porn star brand. Her work is primarily technical and operational. Related: Travel Management Firm CWT Pays Out $4.5M in Bitcoin After Ransomware Attack “I don’t think crypto is a trend. I think it’s definitely here to stay,” Lara said, noting the steady incline of bitcoin usage among performers in Colombia and Romania . “They’ll use cryptocurrency as a way to jump on [Chaturbate] and get started while they figure out the banking stuff.” Story continues Meanwhile, her global operations allow performers like Honey Li , in Europe, to stack sats through Chaturbate. Li said a little bit of her earnings, in addition to whatever she needs to pay bills, is set aside as bitcoin savings. For Lara, having this choice was crucial to the platform’s crypto integrations. “You asked if we hold on to bitcoin? We don’t. We cash out. But our broadcasters do (hodl), and I think that is so smart,” Lara said. With porn production stalled or canceled in hubs like Miami, Las Vegas and Los Angeles, the entire sex industry is shifting geographies. More performers are relying on social media to broadcast from home. Bitcoin may now offer a different use case for platform performers versus high-end escorts, for example. The sex industry is hardly a monolith. Tech tools While social porn platforms inspire more mainstream content creators to dabble in adult themes, this further divides in-person service providers and filmmakers. One such provider, Nina Mona , has been using bitcoin in the sex industry for two years. For her, she emphasizes bitcoin privacy tech, which would be irrelevant for users who already submit know-your-customer information to a central platform. She uses bitcoin to accept payments and also to pay advertisers without sharing her credit card information. “I noticed a wave of OnlyFans signups when in-person work became less viable. I considered it, but don’t think the return is worth the workload or risk of exposure for me,” Mona said. “It seems safer to limit myself to a small set of screened clients than to share compromising material with a broader and less invested audience. Every set of eyeballs is an additional threat.” In the United States, Mona said most clients who booked sessions with bitcoin resided in the Bay Area, Los Angeles or New York. Now that COVID-19 sparked some domestic migration, it’s unclear how this will impact sex workers who focused on urban hubs. For some, this means more travel and extremely selective bookings. Performers and escorts may both operate their own wallets, even if they use platforms like OnlyFans or Chaturbate, especially to receive gifts and tributes from afar. Plus, Lara said the teledildonics trend , where internet-connected sex toys can be set to vibrate when their accounts receive payments, create new opportunities for clients to incorporate money into their fantasies. “There’s this whole teledildonics spectrum that is growing in popularity,” she said. Li agreed with Lara, especially because there are toys for both genders that can be used in synchronized ways. “I use teledildonic toys for work, basically every shift!” Li said. “They’re tip-activated when I work. … You can also sync the vibrations up to a Spotify account or a voice note sent by your partner.” Slow growth Mainstream platforms like Chaturbate and competitor FanCentro already accept cryptocurrency and have been working with it for years. Usage is niche, yet steady. Many sex workers say a direct transaction and relationship is more profitable than payment facilitated by a platform. Chaturbate, for example, charges nearly half of the performer’s earnings. It provides a valuable service, but clients will need to be willing to pay in bitcoin if the performer aims to graduate to her own independent site. “If we’re headed that way, it’s going to be a long time before we hit that milestone, because of the different governance in each country,” Lara said. One FanCentro user and crypto owner, who goes by the alias WesMan83, said he would be happy to pay a sex worker directly in crypto if she preferred. He finds erotic service-providers that suit him using mainstream platforms like Twitter and OnlyFans, as well as personal recommendations from other clients and providers. “I think it’s important for people to understand that sex workers deserve to be paid for what they do and there is nothing wrong with what they do,” WesMan83 said. “They provide an entertainment service and work very hard for what they create. I think it’s important that those of us who are proud to pay, help remove the stigma surrounding it.” For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Why This Sex Industry Executive Loves Bitcoin Why This Sex Industry Executive Loves Bitcoin || Im a Syrian Refugee. This Is How Bitcoin Changed My Life: Tey Elrjula is a tech entrepreneur, a refugee and the author of The Invisible Son, now available for pre-sale . Bitcoin is good for whatever you need. Ive used it to order pizza and to build a fulfilling career, despite all types of hardships. Ive been using bitcoin for years because my family needs it, not because I enjoy speculative trading. In 2013 I was introduced to cryptocurrencies while working with software engineers in the Netherlands. My idea was that if we created money from code, then money would become a way of communication and its value would represent the community. Related: Money Reimagined: COVID-19's Crash Course in Exponential Math See also: The Truth About Bitcoin and Hezbollah in Lebanon I used to send money from the Netherlands to my family in Lebanon twice a month, and the fees were killing me. Even worse, the long waiting lines at money transfer shops were torture. There are still a lot of insurmountable restrictions on money transactions, especially those that exclude large populations around the world. For example, a sizable segment of people in Saudi Arabia doesnt have residence permits and are not able to transfer money to their families in countries such as India or Pakistan. Bitcoin doesnt have those restrictions or involve exorbitant transactional charges. Later in 2013, I started a Facebook group on bitcoin. I moderated the page and had discussions with many of the 10,000 people who came there, most of whom were from Egypt. I met a lot of interesting people in that group, such as Abdullah Almoaiqel. Abdullah is now the co-founder and partner of Rain , which is the first regulated digital currency exchange in the Middle East. The company is based in Bahrain and operates from Bahrain and Egypt. Related: Blockchain Tech Can Verify Credentials, but Beware Credentialism Then, in 2014, everything started going wrong. My European residency card expired at the end of that year and there was a war going on back home. People said Hezbollah, the local militia, was fighting to keep ISIS out of Lebanon. Story continues Technology is helping us live in a world where we need to trust less and verify more. Half of Syria was flooding into the Netherlands back then, and smugglers were active on the other side of Europe. I bought a small book to teach me how to pray in Islam, then started to practice my prayers and listen to the Koran. I also started listening to Sayed Hassan Nasrallah s speeches, his recitals and calls to fight alongside Hezbollah in Syria. I was surrendering to my fate of being deported to Syria or Lebanon. Sleepless nights went by, with the Facebook pages continuously broadcasting images of the brutality of war in Syria. I did not want to be part of this. On Sept. 11, 2014 , 500 migrants lost their lives in the Mediterranean Sea attempting to cross to safe land. It was at that moment I realized how blessed I was to be in Europe, and I surrendered to the idea of becoming a refugee. Meanwhile, I kept working on the Facebook page I ran with a top Egyptian software engineer and early adopter of bitcoin. The Egyptian bitcoin users kept me busy. I chatted with a lot of people and answered their questions on the mining process, price speculation, buying bitcoin and selling it. They knew I was moderating from Holland, but didnt know I was now partially undocumented. I turned 30 in the camp and lied to my parents, telling them I was in my nice European apartment waiting for the immigration authorities to renew my residency. Nobody knew I was living alongside the other Arab refugees in a camp except me. Refugees do not have IDs, so they cant have bank accounts. They dont know anyone in the Netherlands, not yet at least. Bitcoin became an even bigger part of my professional work. The constant exposure to crypto landed me translation jobs for reporters who were covering bitcoin stories. On sunny days, I earned a few hundred euros as an escrow agent connecting buyers and sellers of bitcoin. In July 2015, I earned a technical expertise certificate from the University of Nicosia and registered on the bitcoin blockchain. Finally, I was credentialed, a professional and no longer a hobbyist. Slowly my Bitcoin identity was overcoming my refugee identity. The general public looks at the Bitcoin network as a gambling game in which you can lose all your money. Many meetups were starting to appear in the Netherlands. I started working as a speaker. One such event in the Netherlands was called Bitcoin Wednesday, held on the first Wednesday of every month. Slowly, my Bitcoin identity was overcoming my refugee identity. For years to come and every time I come out onto a stage, I would ask people to put their hands in their pockets and take the coins out. In return I would give them bitcoin for the same amount. Why? Because the best way to understand bitcoin, especially after they hear the pizza story , is to use it. Money and identity have been hand-in-hand for centuries, yet I used bitcoin without an identity. Besides my email, I did not need anything to use money and transact digitally. However, I do need an identity to present myself to the world and interact with services like education and diplomas, health care and vaccines, travel and airline tickets. Technology is helping us live in a world where we need to trust less and verify more. I have travelled to more than 20 different European cities and a few in the Middle East delivering keynotes, public presentations and leading workshops showing organizations the digital future of education, money and business where it is built on principles of dont trust, verify. Bitcoin may not be useful for everything, but it sure as hell changed my entire life. Related Stories Im a Syrian Refugee. This Is How Bitcoin Changed My Life Im a Syrian Refugee. This Is How Bitcoin Changed My Life || Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty: Higher-than-normal selling volume pushed bitcoin down in early trading Thursday before managing to recover.
Bitcoin(BTC) was trading around $9,297 as of 20:00 UTC (4 p.m. ET), slipping just 0.18% over the previous 24 hours.
At 00:00 UTC on Thursday (8:00 p.m. Wednesday ET), bitcoin was changing hands around $9,270 on spot exchanges such as Coinbase. Three hours later, heavy selling volume sent bitcoin down 3% to as low as $8,980. Bitcoin’s price is below its 50-day moving average, but above the 10-day. Such a combination is a sideways bearish signal for market technicians.
Related:DeFi Platform Opyn Launches Put Options on Compound Token
Read More:Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K
“We’re still in a tight trading range; $9,000 is the key to hold,” said Rupert Douglas, heading of institutional sales for crypto asset brokerage Koine. Bitcoin’s dip to below $9,000 is the first time that threshold was crossed since June 15. When it happened 10 days ago, just as on Thursday, the world’s largest cryptocurrency by market capitalization was able to bounce right back.
“The market seems to be taking a bit of a breather after testing $9,000 last night and bouncing pretty nicely,” said Dave Vizsolyi, head trader at Chicago-based crypto firm DV Chain. A massive amount of bitcoin options, to the tune of $1 billion, has traders thinking more volatility might be ahead. “I think the options and futures expiry tomorrow will continue to drive flows,” Vizsolyi added.
Read More:Bitcoin Options Market Faces Record $1 Billion Expiry on Friday
Related:Blockstream's Liquid Network Sent $8M in BTC Unsafely, Says Bitcoin Developer
George Clayton, managing partner of New York-based Cryptanalysis Capital, says he is concerned with economic data for the balance of 2020. Cryptocurrencies are not immune to traditional market gyrations.
“Crypto is currently acting like a risk-on asset and the technicals look sketchy,” Clayton said. “I see both of these elements as short-term bearish.” He pointed to the Atlanta Federal Reserve GDPNow forecasting a second-quarter U.S. economic contraction of an astounding 46.6% compared to the previous year. GDPNow’s estimate of GDP performance is based on its available data. It’s a significantly more bearish outlook than what most analysts are expecting.
“I’m quite bullish on bitcoin by this time next year,” said Neil Van Huis, of crypto liquidity provider Blockfills. “However, there could be a lot of whiplash in between. I guess that is the beauty of the markets.”
Although bitcoin is up over 28% this year, it hasn’t exactly been a smooth ride in 2020.
Despite being down as much as 32% on spot exchanges in March during the coronavirus-induced crash, June has had steadier bitcoin price movement. “I think there really is no real directionality in bitcoin at the moment,” said options trader Vishal Shah. “It seems $9,250-$9,300 has been a broader level of support, while $10,000 has been the top, with a few scattered breaches.” Most of crypto is “actually more fascinated with DeFi at the moment,” added Shah.
Ether(ETH), the second-largest cryptocurrency by market capitalization, was flat Thursday, trading around $233 and slipping 0.11% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
The total value locked in decentralized finance, or DeFi, surpassed $1.5 billion on June 21. The total amount of crypto assets in dollar value is now at $1.6 billion, fueled by thespeculative interest in lender Compound, which now dominates the DeFi world with a 37% market share, according to data aggregation site DeFi Pulse.
Read More:DeFi Startups on Compound Weigh What to Do With $200 COMP Tokens
Digital assets on CoinDesk’s big board are mostly red Thursday. Big losers on the day includedecred(DCR) dumping 2.2%,stellar(XLM) in the red 1.7% and neo (NEO) down 1.6%. One notable winner iszcash(ZEC) in the green 2.1%. All price changes were as of 20:00 UTC (4:00 p.m. ET).
Read More:Circle, Coinbase Bring USDC Stablecoin to Algorand’s Blockchain
In commodities, oil is up 2.5% Wednesday. A barrel of crude was priced at $38.98 as of press time.
Gold is flat; the yellow metal climbed 0.19%, trading around $1,764 for the day.
The Nikkei 225 index of companies in Japan ended the day 1.22% lower. While tech stocks made some gains,the index was dragged lower on selling in the manufacturing sector.
Europe’s FTSE 100 index was in the green, climbing 0.63%. Fears of acoronavirus resurgence sent stocks there lower in early trading, but late gains pushed the index higher.
The U.S. S&P 500 index gained 1%. A slight rally in late-day trading occurred due to optimism onthe U.S. Federal Reserve releasing positive banking stress test results.
U.S. Treasury bonds all slipped on Thursday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 11%.
• Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty
• Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty || Twitter bitcoin hack: List of affected accounts includes Elon Musk, Bill Gates: Hackers took control ofTwitteraccounts belonging to top companies and leaders throughout the business, tech and political landscape on Wednesday in an apparent scheme to stealBitcoinfrom their unsuspecting followers.
The hacked accounts sent out tweets soliciting the public to send bitcoin to a specific address. Tyler and Cameron Winklevoss, co-founders of cryptocurrency exchange Gemini, first raised alarms about the hack, tweeting “ALL MAJOR CRYPTO TWITTER ACCOUNTS HAVE BEEN COMPROMISED.”
CORONAVIRUS PROMPTS SONY TO BOOST PLAYSTATION5 PRODUCTION BY 50 PERCENT
“We are aware of a security incident impacting accounts on Twitter," the social media platform said in a statement. "We are investigating and taking steps to fix it. We will update everyone shortly.”
JOE BIDEN, JEFF BEZOS AMONG APPARENT HACKING VICTIMS IN BITCOIN TWEET SCAM
Bitcoin transactions are irreversible. Anyone who deposits cryptocurrency in a bitcoin wallet would be unable to recover their money unless the recipient opted to return it.
FOX Business breaks down all public figures affected by the Twitter hack below:
• Apple
• Binance
• Coinbase
• Coindesk
• Gemini
• Uber
• Jeff Bezos, Amazon CEO
• Kanye West, music mogul
• Bill Gates, Microsoft CEO
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• Elon Musk, Tesla and SpaceX CEO
• Joe Biden, 2020 Democratic presidential nominee
• Barack Obama, former U.S. president
• Warren Buffett, billionaire investor
• Michael Bloomberg, billionaire and former democratic presidential candidate
READ MORE ON FOX BUSINESS BY CLICKING HERE
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• Coronavirus prompts Sony to boost PlayStation 5 production by 50%: Report || Bitcoin Cash and Litecoin Cryptocurrencies To Trade At The Stock Market As Grayscale Wins FINRA Approval: Grayscale Investments, a company that manages cryptocurrency funds,announcedMonday that shares of its Bitcoin Cash trust and Litecoin Trust have been approved for public listing by the Financial Industry Regulatory Authority (FINRA).
What Happened
The listings will represent the two cryptocurrencies, Bitcoin Cash (BCH) and Litecoin (LTC), which have market capitalizations of $4.2 billion and $2.8 billion, respectively.
Bitcoin Cash or BCash was created as a hard fork to the world's apex cryptocurrency in 2017.
FormerAlphabet Inc.(NASDAQ:GOOGL) (NASDAQ:GOOG) employee Charlie Lee created Litecoin as a Bitcoin-spinoff in October 2011, with the intention to make cryptocurrency transactions faster.
This would be the first time ever that publicly listed securities have ever derived their value from these cryptocurrencies.
The Bitcoin Cash trust will trade under the symbol BCHG and the Litcoin Trust under LTCN on the otc markets.
Grayscale’s offerings will allow institutional investors access to these cryptocurrencies, who have concerns about purchasing such assets directly, Fortunenoted. The shares will reportedly trade at a premium to the price of their underlying crypto assets.
Why It Matters
Greyscale Bitcoin Trust(OTC:GBTC) shares are said to be one of the top five equities held by millennials even ahead of shares ofNetflix Inc, (NASDAQ:NFLX) according to Fortune.
The company has six such offerings, includingGreyscale Ethereum Trust(OTC:ETHE) andGreyscale Ethereum Classic Trust(OTC:ETCG).
Greyscale’s shares trade on the OTCQX, which is overseen by FINRA and does not require registration with the United States Securities and Exchange Commission.
Price Action
Bitcoin Cash traded nearly 0.2% lower at $169.67 at press time on Tuesday, according to CoinMarketCap data. Litecoin traded about 0.4% lower at $42.35.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || World-first Quantitative Seeding Exchange, Mercury Exchange Is Coming!: NEW YORK, NY / ACCESSWIRE / June 22, 2020 / Bitcoin, born 12 years ago, has experienced its 3rd halving. After countless death alerts, Bitcoin had grown into a trillion-dollar market, attracting considerable attention both from retail investors and institutional capitals. During each round of the bull-bear trend transformation, the industry had changed and evolved gradually. However, no matter the changes, exchanges have always been at the top of this industry. Reputable fund houses are progressively entering the crypto scene. A new round of exchange battles is about to happen. How to break through the existing business model and seize the high ground is especially essential in the exchange competition. Recently, a dark horse exchange called Mercury Exchange ( https://merexchange.com/ ) has attracted considerable attention. With its core quantitative technology, innovative seeding project model, combined with "unlock by trade" business strategy, Mercury Exchange has emerged rapidly and becomes popular among a lot of communities. Mercury Exchange 4 C ore A dvantages As the world's first intelligent quantitative trading platform, Mercury Exchange provides one-stop incubation solutions for seeding projects through AI quantitative systems and professional market value management tools. Unique trading mechanisms help community, traders, exchange; project management reach a consensus towards pricing and growth. Compared to other existing exchanges, Mercury Exchange does have 4 core advantages: 1. Ultra-high P erformance To fulfill high trading demands for all users, MerEX matching engine is capable of sustaining 1.4 million TPS, as well as 20 million simultaneous users' activity. Multi-currency trading pairs and derivatives are also provided with utmost security, deep liquidity & ultra-low latency. 2. Multi-level R isk C ontrol S ecurity The safety of users' funds has always been the primary goal of exchanges. Therefore, Mercury Exchange introduces a multiple level risk control system for users on different caliber, by using dual firewall technology (hardware firewall and software firewall) to achieve the best safety of funds. Story continues 3. Bull trend Strategy for Seeding Pr oject s New seeding projects usually have to pay a large sum of listing fees to the crypto exchanges. Due to a lack of regulations, exchanges will manipulate and dump the coin after listing (manipulated and dumped by exchanges) , causing losses and distrust to investors. With a lack of professional market management experiences, seeding projects may also suffer from malicious selling and manipulation by early investors, short sniping by quantitative institutions and provisional rollback on trades by exchange, etc., which will eventually lead to the breakdown of the project. Targeting such problems, the "Seeding Project Plan" came into the picture. Before the project gets listed, a non-breakdown agreement will be signed by Mercury Exchange and the project. Meanwhile, seeding projects will be carefully analyzed and screened through pre-listing. Multiple software provided to users helps to cater to different strategy models for gaining profits. Under the unique trading system of Mercury Exchange, every transaction will push up the traded price of seeding projects. Upon fulfilling the required volume, the price of the seeding crypto project will increase. All traders can choose to buy in at a significant discount price as an option compares to the current market price for seed projects only. Discounted seeding crypto will be locked upon purchase. Traders need to trade and unlock, which can be up to 0.5 % of the traded sum. Targeting projects with varying maturity, few categories of trading zones have was set up, including Seeding Zone, OTC Zone, Mainstream Crypto Zone, IEO Zone, Contract Zone, and more. These provide the perfect environment for seed projects to enter the mainstream crypto community shortly. 4. Quantitative Technology In response to issues of insufficient transaction depth, liquidity shortage, Mercury Exchange formulates a series of strategies for market value management with its exclusive quantitative technology and AI actuarial system. It helps to push up crypto pricing helping investors gaining lucrative profits. Introducing Mercury Exchange Platform Token, MCX Issued by Mercury Exchange, MCX is based on Ethereum smart contract. With a total supply of 1 Billion, it will be released over 10 years. More than 180 countries blockchain enthusiasts have supported MCX. Traders can choose to purchase locked MCX at a discounted rate compared to the market price. The more you trade, the higher the proportion of unlocking locked MCX. Especially in terms of trading fee commission rebate, Mercury Exchange is the first to maximize benefits for users. Its rebate ratio is as high as 90%! Compared with other trading platforms such as Kucoin or Binance, it is incredibly tempting for users. As a gas fuel in the Mercury exchange ecosystem, MCX has been applied to multiple scenarios. For example, MCX can be used as an alternative for a trading fee discount. Also, MCX can be used to participate in IEOs or new coin fund-raising campaign and can be used for specific advertising on Mercury Exchange as well. Besides the scenarios within Mercury's internal ecosystem, online applications, offline markets like shopping malls, payment solutions can be applied too. MCX will not conduct ICO, in combination with AI qualitative trade mechanism, MCX will not have the risk of price dumping issues. Also, being backed by an experienced market-value management team, its value and price will be a guaranteed bullish trend. Also, Mercury Exchange will launch a "buy-back" scheme and "token burning" mechanism in the future to ensure that the value of MCX continues to soar. Conclusion In the post-epidemic era, the global pattern has changed dramatically. However, this situation provides an ideal environment for the digital economy era growth. Perhaps Mercury Exchange current online solution is just what the crypto community needs. Only time will tell. Contact: Mercury Exchange Mia Bao +1 (321) 800-3487 [email protected] https://merexchange.com/ SOURCE: View source version on accesswire.com: https://www.accesswire.com/594824/World-first-Quantitative-Seeding-Exchange-Mercury-Exchange-Is-Coming || Payment processor BTCPay receives $150,000 grant from Kraken: Open-source bitcoin payments processor BTCPay has received a $150,000 grant from crypto exchange Kraken, the company announced on Thursday. The grant, received and held in bitcoin, is the largest donation BTCPay has received to date. According to the announcement, Kraken has also launched a BTCPay Server integration on Cryptowatch, their trading terminal that provides cryptocurrency market data and analysis. BTCPay will use the grant to improve its interface and offer more flexibility to developers by providing them with a "Swiss-knife type of stack that can help anybody in building a Bitcoin business with ease and versatility," the announcement said. The payment processor will also use the grant to increase its number of plugins and other integration tools. BTCPay said it plans to release a beta version of its exchange integration plugin BTC Transmuter later this year. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: no change || Prices: 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-03-26]
BTC Price: 3985.08, BTC RSI: 53.43
Gold Price: 1314.30, Gold RSI: 55.31
Oil Price: 59.94, Oil RSI: 65.90
[Random Sample of News (last 60 days)]
Korea Exchange Official: US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market: An official atSouth Korea’ssole securities exchange operator, the Korea Exchange (KRX), says the bourse is closely eyeing developments fromUnited Statesregulators in regard to Bitcoin (BTC) exchange-traded funds (ETFs). The official, reportedly speaking on condition of anonymity, wascitedby local English-language daily The Korea Herald on Feb. 20.
ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They areseenby some as a potential development that would herald the widespread adoption of crypto as a regulated and passive investment instrument.
The U.S. Securities and Exchange Commission (SEC) has to date eitherrejectedorpostponedits decision on a widerangeofproposedcrypto-related ETFs. With the SEC’s review period of one proposal now set to come to a close byApril, the KRX official reportedly remarked:
“The US has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of Bitcoin ETFs within the market — which is why we are observing the progress and response of the US [SEC]’s decision on Bitcoin ETFs.”
The official added that KRX is extensively discussing the provision of a solid Bitcoin index, which would be “required for the launch of such ETFs [...] when [...] commercialized and integrated into the market [...] because it would eventually concern investor protection issues.”
As The Korea Herald further reports, South Korea’sburgeoningblockchainspace has reportedly already seen the launch of blockchain ETFs by local investment banks and asset management firms — products whose listing is eased by the relatively lower level of scrutiny they receive from the country’s watchdog, the Financial Supervisory Service.
Lee Kyung-ho, a professor at Korea University’s Graduate School of Information Security, reportedly argued that thehealthof the localblockchainsector would eventually pave the way to cryptocurrency ETF integration, remarking that:
“With the government expanding its investment in research and development of blockchain technology, the projects are expected to minimize or eliminate the risk of integrating ETF transactions in the cryptocurrency market.”
Lee further pointed to the fact that prospective Bitcoin ETF trading relies on robustKnow Your CustomerandAnti-Money Launderingcompliance, which the Korean has alreadyincreasinglybeenrequiringof domesticcrypto exchanges.
In a recent interview with Cointelegraph, prominent CNBC commentator, crypto analyst and investor Brian Kelly said hebelievesthere is no shot for a Bitcoin ETF this year — but a very good chance in 2020.
• CFTC Commissioner Brian Quintenz Suggests Creation of Crypto Self-Regulatory Organization
• SEC Starts Review of NYSE Arca’s Bitcoin ETF Rule Change Proposal
• CFTC Official Argues Against SEC’s Grounds for Disapproving Bitcoin ETFs
• Proposal for ETF Following Bitcoin Futures, Sovereign Debt Withdrawn by SEC Request || Bullish Sentiment for Bitcoin As Long Bets Near 11-Month Highs: Bullish bets on bitcoin, the world’s largest cryptocurrency by value, reached 11-month highs on Monday, according to the data from the cryptocurrency exchange Bitfinex.
The number of long positions on bitcoin’s US dollar-denominated exchange rate (BTC/USD) jumped to 38,237 BTC at 04:10 BTC – the highest level since March 30, 2018 â and were last seen at 36,176 BTC.
While long positions have risen by 35 percent in the last three weeks, short positions have remained largely unchanged. As a result, the long-short ratio, a barometer of market sentiment, has improved to 1.5 from 1.18.
You Can Now Send Bitcoin Tips Over Lightning on Twitter
The market mood has indeed turned bullish but hasn’t reached extremes, as long positions are still at least 8 percent short of the record high of 40,193 registered on March 26, 2018.
That said, BTC’s rally to 5.5-week highs above $3,900 has likelyopenedthe doors to a convincing move above $4,000. That would only attract buyers, pushing BTC/USD longs to fresh record highs.
As of writing, BTC is changing hands at $3,912 on Bitfinex, the highest level since Jan. 10. The cryptocurrency would become vulnerable to “long squeeze” â Â a sudden pullback in prices due to an unwinding of long positions â if and when the bullish sentiment reaches extremes.
Bitmain Announces New, More Efficient 7nm Bitcoin Mining Chip
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock;Âcharts byÂTrading View
• Bitcoin Price Passes $3,700 to Hit One-Month High
• Craig Wright Claims to Be Satoshi in Critical Response to CFTC on Ethereum || Digital Currency Group, Polychain Back UK Crypto Futures Exchange Coinflex: Physically deliveredcrypto futuresexchange Coinflex has attracted two more high-profilecryptoinvestors, Digital Currency Group and Polychain Capital, the exchangetweetedon March 12.
The new investors have joined Coinflex’s investor consortium, whichincludesmajor market making and venture capital names such as Dragonfly Capital Partners, Trading Technologies andRoger Ver.
In the same announcement, Coinflex introduced its FLEX Coin, which is designed to encourage liquidity and reward early traders on the platform. Traders will be paid a certain amount of FLEX based on the proportion of the volume they trade, relative to the total daily volume on the platform, the press release notes.
Coinflex CEO Mark Lamb stated in the press release that with the support of high profile investors, the company is “moving closer to our goal of helping crypto futures trading achieve its full potential.”
Claiming to be the world’s first physically-delivered crypto futures market, Coinflex is also planning to launch what it calls the world’s first stablecoin-to-stablecoin futures contract, the press release says.
Olaf Carson-Wee, CEO of Polychain, was quoted in the press release as saying that Coinflex, as an exchange for physically settled futures, “will be well positioned to capture significant order flow from speculators, institutional traders and Proof of Work miners seeking to hedge against crypto price volatility and hash rate volatility.”
Coinflex is the result of areorganizationof United Kingdom crypto exchangeCoinfloor’s unit, Coinfloorex.
As previously reported, physically delivered futures means that at the time of a contract’s expiration, traders will be given the underlying cryptocurrency instead of a cash payment.
Meanwhile, market giant the Intercontinental Exchange (ICE) has recentlysaidthat the launch of its crypto platformBakkt, which is set to include Bitcoin futures trading, is expected later in 2019. Originallyannouncedin August 2018, the digital asset platform’s launch wasdelayeddue to ongoing consultations with theUnited StatesCommodity Futures and Trading Commission.
• Thailand’s Stock Exchange Plans to Roll Out Digital Asset Platform in 2020
• Previously Hacked Gatecoin Exchange Receives Liquidation Order Following Banking Problems
• Coinbase Links User Accounts on Its Main Platform to Its Wallet App
• Binance’s Official Crypto Wallet Adds Support for XRP and Credit Card Purchases || Cryptocurrency companies use 'backdoor' listings to ease into mainstream: By Alun John and Anna Irrera HONG KONG (Reuters) - Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned. In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a "backdoor" listing on Toronto's Venture Exchange after it bought control of mineral exploration firm UC Resources. Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO). "Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there's an assumption that having some exposure to the traditional public market will help," said Fei Ding'an, managing partner at Ledger Capital, a digital asset investment firm. Japan's Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded. In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million). Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries. Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings. Voyager said its listed shares could help fund growth. "Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions," Voyager CEO Steve Ehrlich said in an email. Story continues Neither Huobi nor OKCoin has given details of their plans for the purchases. ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform. A spokesman for BC Group said being publicly traded gave clients "additional confidence in knowing we are a credible company and here for the long game." Spokespeople for OKCoin and Huobi declined to comment. Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment. LEGITIMACY Crypto experts said the deals could help the industry gain greater mainstream acceptance. The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures. Last year, the New York attorney general's office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally. This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly. The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin's price has fallen more 80 percent since then, and trading volumes have slumped. Some exchanges may also feel pressure from investors seeking a means of realizing their profits. "With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit," said Zennon Kapron, director at financial technology consultancy Kapronasia. WRESTLING WITH REGULATORS Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies. Japan's FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate. In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business. Both Hong Kong's market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment. But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday. Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world's largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised. "It's possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company's existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk," said a person familiar with the listing committee's processes, speaking anonymously because he was not authorized to speak to the media on the subject. The Hong Kong Stock Exchange's Listing Committee must be satisfied that a company's business is sustainable before it can list. The miners' bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said. Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead. "Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models," said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills. Exchanges like Bithumb that are looking to the United States could also similar roadblocks. The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States. "Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC," said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli. (Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle) || Security Tokens – Not Bitcoin – is MakerDAO’s Most Exciting New Feature: Rune Christensen, the CEO and founder ofMakerDAO, came to the United States this week to visit theMIT Bitcoin Expo, among other things. Christensen took some time to talk to CCN about the status of MakerDAO’sfull release.
He says the multi-collateral Dai release will have two major features, but the most important is, well, the addition of other types of collateral.
“The first one is that it can support multiple collateral types. This of course means ERC-20 tokens. It also means Bitcoin through WBTC. A range of cross-chain assets that are emerging now. Also there will be other stablecoins. Centralized stablecoins that already exist on the Ethereum blockchain. But most importantly, security tokens.”
MKR token holders govern the actual assets allowed. However, it’s safe to say that things likeBitcoinand most ERC-20 tokens will be locked up in Dai CDPs before long.
Rune Christensen, MakerDAO Foundation CEO
Governance is extremely important in the MakerDAO system. It’s what can make or break it. The MakerDAO foundation originally owned all theMKR tokens, but, as Christensen explains, they sold them off to key players in theEthereumworld to help fund their team of 100 people. These players included risk experts, economists, developers, and institutional investors.
“The fundamental reason why MKR exists is to vote in the system. It also has in-built incentive to ensure that people are actually going to do that.” || 'FOMO' and 'get rich quick' dreams drive UK crypto buying, studies find: Top reasons Brits bought cryptocurrency such as bitcoin (BTC-GBP) and ether (ETH-GBP) include a “fear of missing out” and hopes of getting rich quickly, according to two new studies.
The Financial Conduct Authority (FCA), Britain’s financial watchdog, on Thursday released the results of two studies looking at awareness of and investment in crypto assets in the UK. They found that one of the biggest reasons for buying crypto was a hope of “getting rich quick.”
The first survey, which involved in-depth interviews with 31 crypto investors, found hopes of fast wealth was the number one reason for investing.
“Particularly for the younger people in the sample, this seemed to be related to a more general aversion to traditional forms of employment and an attraction to lifestyles of leisure and making ‘easy money’ with little effort,” the report said.
The second report, based on a survey of over 2,000 people across the UK, found that “Expecting to make money quickly” was the third most popular reason for buying crypto assets. 18% of respondents who had invested in crypto cited this as their reason for doing so.
The interviews with 31 crypto investors in the first survey found that a “fear of missing out,” or “FOMO,” was another major reason for buying crypto.
“Many had read articles or heard the stories of consumers who had bought Bitcoin in or before 2017 and made a significant amount of money,” the report said. “Already worried that they might have left it too late, they didn’t want to miss out on the chance to be ‘in’ on any cryptoassets that might increase in value in the future.”
The second survey of 2,000 Brits found that “FOMO” was a smaller factor, with just 4% saying it was their main reason for investing.
Other reasons given for buying crypto include a gamble and as part of, or instead of, a traditional financial portfolio.
The survey of 2,000 Brits, which was conducted by market research firm Kantar, suggests crypto remains a relatively niche investment. 70% of respondents either didn’t know what crypto was or couldn’t define it. Kantar and the FCA estimate that just 3% of Brits have bought crypto assets.
The most popular cryptocurrency to buy is bitcoin, with just over 50% of buyers opting for crypto’s oldest coin. Ether is the second most popular, with 34% of crypto investors buying it.
“This research gives us evidence we haven’t had before about how consumers interact with cryptoassets. This will help us ensure we are acting on evidence as we seek to protect consumers and market integrity,” Christopher Woolard, the FCA’s executive director of strategy and competition, said in a statement.
“The results suggest that although cryptoassets may not be well understood by many consumers, the vast majority don’t buy or use them currently.”
The two FCA-commissioned studies are part of the UKCryptoassets Taskforce, which was set up in 2018 and involves the FCA, the Bank of England, and the Treasury. The Taskforce seeks to understand the UK’s crypto landscape so it can be appropriately regulated.
“Whilst the research suggests some harm to individual cryptoasset users, it does not suggest a large impact on wider society. Nevertheless, cryptoassets are complex, volatile products — consumers investing in them should be prepared to lose all of their money,” Woolard said.
Cryptocurrencies and assets exploded in popularity in 2017 as the value of bitcoin rose over 1,000% to around $20,000 by the end of the year. However, cryptos crashed in 2018 and bitcoin today trades at around $3,900. The FCA has previously warned UK consumers that cryptos are “highly volatile and risky.” || Square Bitcoin Revenue Success Contrasts Profit Warnings After Record Q4 Results: United States -based payment platform Square reported $166 million in annual Bitcoin (BTC) revenue for 2018, data from its annual earnings report published Feb. 27 confirms. Square, which shares its CEO Jack Dorsey with Twitter , achieved just over $52 million in Bitcoin sales for Q4, surpassing Q3 by $9 million and Q2 by more than $15 million . Clear profit from the Bitcoin operations, which involve Squares consumer app Cash, remain low, as purchasing costs account for the vast majority of revenue. Nonetheless, Bitcoin industry figures appeared buoyed by the results, which contrast with a forecast slowdown for Square more generally, with shares falling following publication of the earnings report and Q1 2019 profit warning. For the year ahead we continue to focus on three things [
] add strength to in-person payments, to mobile payments and also to online. We're really excited about everything we're doing in financial services, Dorsey told CNBC in a subsequent statement. As Dorsey confirmed to the Stephan Livera podcast earlier this month, the Lightning Network and its near-zero-fee, instant transactions could soon appear within Square Cash. I think theres a lot more we can do
in terms of making (Bitcoin) more transactional
making it simple enough that I could justify buying a cup of coffee in the morning, he said. Square began offering Bitcoin purchases in Q1 last year following initial testing beginning in November 2017. Related Articles: UAEs Largest Real Estate Firm Emaar Denies Reports That It Accepts Crypto: Bloomberg Bank of Spain: Bitcoin Unable to Solve Problems of Traditional Payment Systems Japan: E-Commerce Giant Rakutens New Payment App Appears to Support Crypto US Court Denies Ex-Mt. Gox CEO Karpeles Motion to Stay Lawsuit Against Him || US Crypto Exchange ErisX Hires Former Wells Fargo Executive as Business Developer: United States-basedcryptocurrency exchangeErisX announced that it hired formerWells Fargoexecutive Kyle Unterseher as a business development executive. The news was reported in a Mediumpostpublished by the exchange’s head of marketing on March 5.
In December 2018, ErisXraised$27.5 million from Fidelity, Nasdaq Ventures and other investors, with the goal of offering spot trading inBitcoin(BTC),Ethereum(ETH) andLitecoin(LTC), as well as futures markets, pending regulatory approval in 2019.
Unterseher joins the ErisX business development team and will be reporting directly to ErisX chief commercial officer Kelly Brown. In the post, Brown stated:
“We were impressed with Kyle’s wide range of global experiences working with FCMs as well as in managing and operating critical growth departments [...] He is a significant addition to the team as we gear up to launch one platform for spot and regulated futures on digital assets.”
Unterseher points out in the post that the exchange “has operated a regulated marketplace for over seven years before entering the cryptocurrency space.”
As Cointelegraphreportedin February, crypto exchange ErisX has also appointed three veterans from Barclays, YouTube and theChicago Board Options Exchangeto fill executive roles at the company. Moreover, in December last year, the companyannouncedthe appointment of veteran exchange founder Matt Trudeau as its chief strategy officer.
In February, ErisXfileda comment letter with the U.S.Commodity Futures Trading Commissionin response to the agency’s request for feedback on Ethereum (ETH)’s mechanics and market, noting that the introduction of ETH future would have a positive impact.
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 6
• Crypto Markets Mellow After a Surge of Growth, Stock Market Slightly Down
• Crypto Markets Recover $5 Billion Lost on Monday, Bitcoin Tests $3,900 Support
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4 || Why NOW Is the Time to Buy Gene Therapy Stocks: The biotech industry has been on a tear in 2019, up 25% through the first two months of the year. That’s great. But niche gene therapy stocks are performing even better. gene editing Source: Shutterstock The rally has been fueled by a strong combination of merger announcements, positive news from the FDA and the continued development of breakthrough therapies. Headlines have been popping up nonstop over the last week, and today I’d like to recap some of the highlights. Spark Therapeutics (NASDAQ: ONCE ), a small-cap biotech that focuses on gene therapies, was purchased by pharmaceutical giant Roche (OTCMKTS: RHHBY ). On a per-share basis, the $4.8 billion purchase price equated to $114.50 — a huge 122% premium over ONCE’s previous close. Spark investors are now looking at 190% gains in 2019 alone. The same day, CRISPR Therapeutics (NASDAQ: CRSP ) announced that human trials had begun for its CTX001 gene therapy drug. A patient suffering from beta-thalassemia had been dosed. And in just a few months, the same drug is expected to be tested on patients with sickle cell disease. InvestorPlace - Stock Market News, Stock Advice & Trading Tips CTX001, which is based on the CRISPR/Cas9 gene editing technique, is currently undergoing Phase I/II trials. Typically, the first dose in such a trial would not be a headline. But this was the first time that CRISPR technology had ever been used on a human. The news sent CRSP up more than 20%. 7 Top-Rated Stocks to Buy for March A few days later, gene therapy stock Sarepta Therapeutics (NASDAQ: SRPT ) released impressive results for its muscular dystrophy drug. And in the same press release it announced the $165 million purchase of privately-held gene therapy company Myonexus. The stock rallied on the news and is now up 34% so far this year. But even with the acquisition news, SRPT has long been rumored as a takeover target for larger pharmaceutical companies. Finally, micro-cap gene therapy stock MeiraGTx Holdings (NASDAQ: MGTX ) announced an $80 million private placement. This is important because its lead investor is the private arm of Johnson & Johnson (NYSE: JNJ ). MeiraGTx is already up a whopping 67% in 2019. Story continues Get in Position for Life-Changing Profits from Gene Therapy Stocks There is absolutely no question that there is money to be made in the gene therapy stocks over the long term. However, because the sector is still in its infancy, we have to expect increased volatility. What we’re seeing now is a very strong upswing. Gene therapy is on track to save countless lives. It’s also on track to make you life-changing profits as long as you can weather the ups and downs that are simply the nature of early-stage mega-trends. Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today . More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 5 Retail Stocks Ready to Break Out 7 Strong Buy Stocks the Street Loves 10 Best Stocks to Buy and Hold Forever Compare Brokers The post Why NOW Is the Time to Buy Gene Therapy Stocks appeared first on InvestorPlace . || “Clear and Robust Strategy” Nets 0.023% Recovery of Bitfinex’s Hacked Funds (So Far): According to anofficial statementpublished on February 25, 2019, Bitfinex has revealed that the United States government returned 27.7 BTC (worth about $105,000 USD) to the exchange, as part of restitution for a hack that was effected on the exchange back in 2016.
The returned tokens represent just 0.023 percent of the bitcoin stolen in the infamous 2016 hack.
Bitfinex said that U.S. federal law enforcement informed them in November of last year that it had obtained access to the stolen funds.
Bitfinex CFO Giancarlo Devasini was full of praise for the efforts of law enforcement officers in the recovery, stating:
Over two years following the hack of the Bitfinex platform, today we see the results of a clear and robust response strategy and the efforts of the U.S. government. It gives us great pleasure to be able to reimburse our traders that were loyal to us and believed in us at a very difficult time.
Devasini also reiterated the exchange’s willingness to help investigators in their inquiries, calling on individuals with useful information about the hack to reach out so they can “finally resolve the situation in a mutually beneficial manner.”
Two years ago, the crypto communitywoke upto the news of 119,756 BTC stolen from the wallets of Bitfinex in one of the largest crypto exchange hacks sinceMt. Goxwas breached in 2014.
The exchange had generalized the losses across all accounts, crediting BFX tokens for every dollar lost in thehack. Tokens were redeemed for a dollar or exchanged for the company’s stocks — those who chose to hold shares had their BFX tokens converted into Recovery Right Tokens (RRT).
Per the announcement, the recovered tokens are currently being converted to USD and will be paid to holders of RRT.
“The benefit to RRT holders is that in the event of any retrieval of the stolen property, and after any outstanding or unconverted BFX token holders have been reimbursed, recovered funds are distributed to RRT holders, up to 1 dollar per RRT,” the statement reads.
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
#BTT は@coinexcomに上場されました。2019年2月15日11:00（SGT）から取引ペア BTT/BTC, BTT/BCH がご利用できます。 $BTT #BitTorrent
【BTT Japan Telegram :https://t.me/BTTBitTorrentJP 】pic.twitter.com/sQ5ji1N6Mw || 最もBTC/JPYの取引量が多いのは？(2019-01-28 03:00:06 現在)
Liquid 17862.196712
bitFlyer 2631.198392
coincheck 1211.519170
Zaif 682.595700
bitbank 551.017900
BITPoint 149.853421 || ビットコイン人気ナンバー３
【1位】ビットフライヤー
https://bitflyer.jp?bf=1j1mizsobitflyer.jp/?bf=1j1mizso
【2位】コインチェック
https://coincheck.com/?c=bfNXkJYgb-E
【3位】zaif（ザイフ）
https://zaif.jp/?ac=gck05rm4ms pic.twitter.com/i4ev9t3kvf || Going to get some Zenon before it hits exchanges.
Fair and different kind of distribution, where demand dictates the supply. Passive income in both $ZNN & $BTC through masternodes and altogether a nice different approach.
https://t.co/wc05ScRuuO
https://t.co/t2koC2OTxb https://t.co/c6QVd5gXdr || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -0.14 % || 14-02-2019 11:00
Price in #USD : 0.0455394835 || Price in #EUR : 0.0404386971
New Price in #Bitcoin #BTC : 0.00001258 || #Coin Rank 721 || $APIS to $BTC Price 0.0000005720 BTC(￥0.22434068799999998). #bitz || #Robostopia Smart #CryptoCurrency Trader Bot for #Binance and #Bittrex
Trailing Stop-Loss, Buy or Sell #altcoins / BTC pairs.
Auto Renew Orders
Profit / Loss notifications by transactions.
Completed Order notifications and many more..
http://robostopia.com pic.twitter.com/5MjPeFRZIf || Mar 22, 2019 20:02:00 UTC | 4,014.00$ | 3,554.20€ | 3,038.90£ | #Bitcoin #btc pic.twitter.com/nUOFx9sGrp || I’ll help if u need me too. || #Robostopia Smart #CryptoCurrency Trader Bot for #Binance and #Bittrex
Trailing Stop-Loss, Buy or Sell #altcoins / BTC pairs.
Auto Renew Orders
Profit / Loss notifications by transactions.
Completed Order notifications and many more..
http://robostopia.com pic.twitter.com/FKOuhgDGjJ
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Trend: up || Prices: 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-08-09]
BTC Price: 3342.47, BTC RSI: 66.88
Gold Price: 1273.00, Gold RSI: 63.24
Oil Price: 49.56, Oil RSI: 60.98
[Random Sample of News (last 60 days)]
Should You Jump On The Bitcoin Bandwagon?: You’ve likely been hearing a lot about digital currencies lately, and more specifically, bitcoin, which is one of the more dominant (and successful) currencies in a growing field that initially emerged in the 1980s.But what is bitcoin, exactly, and why is there now so much hype?Here are a few things you should know about this decentralized, peer-to-peer currency that has been around since 2009 and is quickly gaining momentum as it quietly dodges its association with illegal activity (Think: drug dealers, tax evaders, and hackers demanding ransom):It’s accessible to the massesWhile most of the people buying biotin are individual investors, anyone can get in, and one of the easiest places to do this is on a trusted exchange likecoinbase.com. “It’s one of the more popular, exchanges for everyday mom and pop investors who are becoming more interested,” saysChris Dunn,Bitcoin trader, investor andtrainer. “You set up an account there, link it directly to your checking account, and work out a few technicals. You buy and sell bitcoin with U.S. dollars. It’s kind of like electronic trading of stocks, except there’s no broker involved.”There’s no minimum investmentCurrently one bitcoin costs $2760, but that doesn’t mean you have to spend $2760. “You can buy small fractions of bitcoin, down to 8 decimal places, so technically if you wanted to invest $.01 worth of bitcoin, you could,” says Brian Kelly, Founder and Managing Member,Brian Kelly Capital LLC, portfolio manager,BKCM Digital Asset Fund, and author ofThe Bitcoin Big Bang– How Alternative Currencies are About to Change the World.Just expect volatility. “Although I’m expecting one big push to the upside to maybe $4000-$5000 with all the new money coming in (Speculation is the primary driver of price.), you have to be ok with the price going down by 80% or 90% so don’t invest money you can’t afford to lose.”Kelly suggests investing no more than 1% of your net worth in digital currency. “This is revolutionary technology akin to the internet. You have to remember that for every Amazon and Google started during the 1990s internet boom, there is a Pets.com that failed.”Risk comes with the territoryBitcoin exchanges are vulnerable to hacking, and if an exchange loses its money, good luck getting your money back, says Kelly. “Most exchanges are essentially unregulated banks.”Practical? Not exactly…While a growing number of e-commerce sites, including Overstock, Expedia, and numerous others (as well as some bricks and mortars), it’s not like you can use bitcoin, which is still considered ‘experimental,’ for your everyday purchases. Nor should you, says Dunn. “More people are using bitcoin and that’s led to higher transaction fees. On $100 worth of purchases, the transaction fee might be 5%.”The Bubble Boils?Things move very quickly in the world of cryptocurrency, and while this has many talking “bubbles,” consider this: “Bitcoin has already been through at least six bubbles and price has always exceeded the prior high,” says Dunn. “This may not be the case forever, but it’s attracting mainstream money now, and most people should own at least a little bitcoin to they can familiarize themselves with how cryptocurrencies work because digital currency is here to stay and the technology will only grow in scale and opportunity.”Vera Gibbons is the founder and editor ofnonpoliticalnews.com, a free, by- subscription newsletter that covers and curates the news in Consumer/Personal Finance; Health & Wellness, Fashion/Beauty; Fitness/Diet.A former analyst with MSNBC who appeared regularly on the “Today Show,” Gibbons was previously a Financial Contributor with CBS News. || Alleged hackers behind NotPetya cyberattack demand $260,000 bitcoin ransom: The ransom is on the move. The Bitcoin wallet controlled by the NotPetya attackers showed surprising signs of life over the Fourth of July holiday weekend, with approximately $10,000 in paid ransom disappearing from the account. Around the same time, a message purporting to be from the culprits behind the maybe-ransomware attack surfaced — demanding 100 bitcoin in exchange for a key they say can unlock encrypted files. SEE ALSO: It won't be easy for WannaCry hackers to get their cash At the time of writing, 100 bitcoin is worth approximately $260,000. "Send me 100 Bitcoins and you will get my private key to decrypt any harddisk (except boot disks)," read the message posted to Pastebin . "See the attached file signed with the key." As NotPetya, which first surfaced in Ukraine on June 27, has been shown to damage an infected computer's master boot record, the person behind the message is only claiming to be able to decrypt specific files — not entire systems. Still, that ability could be a godsend for companies struggling to restore lost data, assuming the ransomer is telling the truth. The new demand was posted on July 4, the same day ransom payments made in the hopes of obtaining decryption keys were moved from the Bitcoin address listed in the initial NotPetya attack to another wallet. The message displayed by NotPetya. Image: SYMANTEC No new Bitcoin address was listed for payments should anyone decide to actually fork over the 100 bitcoin. However, a link was provided to a chatroom for the purpose of getting in touch with the hackers and presumably arranging payment. Motherboard exchanged messages with someone claiming to be one of the hackers, who told the publication the key for sale would "decrypt all computers." So, should organizations desperate for their data pay up? It's a tough question. Security researchers have more or less reached a consensus that the intention behind NotPetya was to damage cyber-infrastructure, not to make money. As such, the calculus for victims is different than it would be with a more traditional form of ransomware. Either way, this latest series of developments — the transfer of funds between Bitcoin wallets and the new demand — serves to further muddy the waters behind the NotPetya attack. It also makes one thing clear: The story of the latest ransomware scourge to sweep the globe is not over yet. WATCH: Step inside the secretive class that turns people into hackers Https%3a%2f%2fblueprint api production.s3.amazonaws.com%2fuploads%2fvideo uploaders%2fdistribution thumb%2fimage%2f80316%2ff500b367 c74e 4fa7 97cd cde8f19f3003 View comments || Bitcoin's explosive gains could spell good news for stocks: FILE PHOTO - A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., June 27, 2017. REUTERS/Lucas Jackson (A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New YorkThomson Reuters) Bitcoin is trading at a record high on Monday, up 3.92% at $3,356 a coin. It has gained about 80% over the past month, shaking off fears that a fork in the cryptocurrency would cause its price to plummet. These kinds of astronomical gains in bitcoin, it turns out, are correlated with a strong showing by stocks too, according to Nautilus Investment Research. To be more specific, the firm says that of the 18 previous instances when bitcoin returned at least 30% in a month, the S&P 500 was higher 15 times two months later and 17 times three months out, averaging gains of 3.61% and 4.66%, respectively. What explains this? Nautilus doesn't offer a reason, but it does note that it could just be that bitcoin is a "barometer for animal spirits in the markets." In other words, when traders are going nuts about a highly-speculative investment like bitcoin, that same risk-loving attitude might turn up among the folks who trade stocks. What we can't know from this is whether one affects the other, or if there's something else driving strong demand for both. Though Nautilus only has 18 points of reference, it's worth noting that these go all the way back to 2010, so the backdrop for the rallies the strength of the economy, investor sentiment, and Trump haven't all been the same. Of course, bitcoin hasn't been around that long so we don't know how this correlation will hold up in the long-term. Bitcoin has had a blazing start to 2017. Through the first seven-plus months of the year it has gained 257%. 8 7 17 stocks after bitcoin COTD (Nautilus Investment Research) More From Business Insider Bitcoin's meteoric rise is costing some investors billions Tesla's surging stock is crushing short sellers It's about to get a lot easier to bet on the backbone of the stock market || Revisiting An Overlooked Precious Metals ETF: The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.
Among exchange-traded products, theETFS Gold Trust(NYSE:SGOL) is up 9.4 percent year to date while theETFS Physical Palladium Shares(NYSE:PALL) is up a stunning 26.9 percent. Sturdy precious metals prices are helping theETFS Precious Metals Baskets Trust(NYSE:GLTR) to a year-to-date gain of more than 8 percent.
All That Glitters ...
GLTR holds a basket of physical gold, silver, palladium and platinum.
“Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified 'Precious Metal' ETPs that generally appeal to those investors and portfolio managers whom prefer 'basket' exposure to the space as opposed to betting on specifically Gold or Silver for example,” saidStreet One FinancialVice President Paul Weisbruch in a note out Wednesday.
Pondering Palladium
Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge.
“The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you’ve got this speculative squeeze,” Mitsubishi analyst Jonathan Butler said,reported Reuters.
Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR.
“Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,” according to Reuters.
Macro Trends, Influences
While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends.
AsBenzinga reported earlier this year, “Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.”
Related Links:
Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'
Is Bitcoin The New Gold? Still Too Early To Say
See more from Benzinga
• Cybersecurity ETF Has A Treat For Investors: Lower Annual Fees
• A Steadier Course For China ETFs
• The Good And The Bad Of Oil ETFs
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin eyes return to $3,000 as Ether edges lower: Investing.com – Bitcoin renewed its swing higher on Tuesday, as investor appetite for the digital currency returned while Ethereum struggled to hold onto gains.
On the U.S.-based GDAX exchange, BTC/USD rose to $2,746.6 up 7.29%.
Bitcoin continued its march higher to $3000, the level achieved last week, as investors piled back into the digital currency, after it fell to $2,409, a level that some analysts suggested could be attractive for reentry.
Bitcoin is up nearly 180% year-to-date far outpacing traditional the gains achieved by traditional U.S. benchmarks such as the Nasdaq and the S&P 500, which are up about 15% and 10%, respectively.
Whereas, Ether, a currency transacted through the Ethereum platform, has risen 4,500% since the beginning of the year, backed by big corporate names like JPMorgan (NYSE:JPM) and Microsoft (NASDAQ:MSFT).
Ether failed, however, to mirror bitcoin’s move higher in the session, with eth/usd down 1.20% to $250.73.
Ether has made up significant ground against bitcoin in short space of time, reaching a market cap of about $33 billion not far off bitcoin’s $44 billion.
If recent trends continue, then the value of Ethereum’s currency could usurp Bitcoin’s in the coming weeks – a phenomenon referred to as the “flippeninig.”
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Forex - Dollar gains amid Fed remarks and sterling weakness || Is Bitcoin a Currency or a Bubble?: • (0:30) - Bitcoin Value Triples in 2017
• (2:00) - How To Buy Bitcoin and Who is Buying It?
• (7:20) - How is Bitcoin Impacted By Ransomware
• (9:40) - How Does Bitcoin Have Value?
• (12:20) - Bitcoin V.S. Ethereum
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• (25:40) - Episode Roundup: [email protected]
Welcome to Episode #86 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
In this episode, Tracey is joined by Dave Bartosiak, editor of the Zacks Momentum Trader and Home Run Investor, and who also hosts Zacks Live Trader, which trades options on YouTube, to discuss a topic that is getting a lot of interest on Wall Street: the Bitcoin trade.
Bitcoin is a digital currency which has tripled in value in 2017. It hit as high as $3,000 before pulling back.
Whenever something triples in a short period of time, you can be guaranteed that people are taking notice and want to get in.
What IS Bitcoin? Tracey knows it from the ransomware attacks but it’s more complex than that. Dave breaks it down.
How Can You Play the Bitcoin Trade?
1. Buy Bitcoin using the Bitcoin wallet.
2. If you qualify, buy the Bitcoin Investment Trust (GBTC), which is called the “ETF of Bitcoin” even though the SEC has turned down the Winklevoss’ attempt to actually launch an ETF. The SEC has been concerned the market is unregulated. The GBTC trades on the OTC market.
3. Invest in hedge funds that buy Bitcoins.
4. Buy into companies that are developing the back end, such as Microsoft’s (MSFT) cloud business, Azure, which just won a contract with India’s largest banks to host the nodes that will relay transactions on their distributed ledger systems. Amazon (AMZN) is another option as its cloud business has been pushing blockchain for over year.
Investing in Bitcoin is difficult. Trading it is pretty easy.
The industry reminds Tracey of the marijuana trade, which is also hot but hard to invest in. She and Dave did a podcast earlier this year on the marijuana stocks: Can You Get Rich Off the Marijuana Stocks?
Is Bitcoin the new tulip mania?
Will it crash and burn or is there something to this rally?
Find out the answers on this week’s podcast.
[In full disclosure, Tracey owns shares of AMZN in her personal portfolio.]
Want to Learn How to Trade Options?
Have you always wanted to trade stock options but are unsure where to begin or what to look for?
Each week, Zacks’ Dave Bartosiak will bring you a detailed explanation of the trades “live” on YouTube.
Watch him go through the trade as he answers your questions in real time.
Become one of Dave’s minions. Join the Zacks Live Trader community today. Click here for a free 14-day trial >>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportClick for Free Amazon.com, Inc. (AMZN) Stock Analysis Report >>Click for Free Microsoft Corporation (MSFT) Stock Analysis Report >>SPDR-GOLD TRUST (GLD): ETF Research ReportsSPDR-SP 500 TR (SPY): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || Hackers Leaked Orange Is the New Black Despite Receiving $50,000 Ransom: A hacking group known as The Dark Overlord that has been terrorizing Hollywood in recent months reportedly received $50,000 in ransom money before leaking the latest season of the popular series Orange Is the New Black in May. Variety is reporting that the hacking collective confirmed that it demanded and received that ransom money from executives at Larson Studios, a Los Angeles-based studio that specializes in post-production audio work on Hollywood films and TV shows. The Dark Overlord has claimed that it stole dozens of film and TV titles from major studios such as Netflix, , and by hacking into a computer at Larson Studios. Varietys latest issue features an exclusive interview with executives at Larson Studios, who speak at length about how they discovered that they had been hacked and the steps they took to try to prevent any of their clients productions from being illegally leaked online. Studio vice president Jill Larson told Variety that the studio decided to comply with The Dark Overlords ransom request of 50 Bitcoin--the electronic currency would have been worth roughly $50,000 at the time--to ensure that the group did not leak the stolen programming. Get Data Sheet , Fortune s technology newsletter. However, while Variety says that The Dark Overlord confirms it received the ransom, the hackers reportedly still went ahead and leaked the fifth season of Netflixs Orange Is the New Black online last month because they claim that Larson Studios violated their agreement by involving the FBI. Larson Studios employees say they contacted the FBI immediately after receiving the groups threats and ransom demands in December. The studio also says it did not initially tell its clients that their intellectual property had been stolen, simply because The Dark Overlord had warned them not to tell the big studios. But, the studios eventually found out about the hack after the collective began contacting them separately and demanding additional ransoms. Story continues In addition to the Orange Is the New Black leak, the hacker group has claimed responsibility for the online leak of unreleased episodes of ABCs new competition reality series Funderdome , which is hosted by comedian Steve Harvey. Episodes of that show appeared on the media-sharing website Pirate Bay earlier this month before the series premiered on June 11. At the time, The Dark Overlord wrote in a statement to The Hollywood Reporter that Hollywood is under attack and that the group would continue to release stolen programming. At one point in May, the hackers claimed to have an unreleased Walt Disney feature film--supposedly the May release Pirates of the Caribbean: Dead Men Tell No Tales --but Larson Studios never worked on that movie and Disney CEO Bob Iger denied that the film had been stolen. See original article on Fortune.com More from Fortune.com Facebook Won't Reveal Data About Political Campaign Ads Amazon and Former Exec Settle Non-Compete Dispute Spotify and Facebook Make It Easier to Create Group Playlists A Computer Designed Stanley Black & Decker's New Tool Oracle's Shares Soar On Strong Sales || Nvidia is set to dominate the '4th tectonic shift' in computing: Lulea data center 5 - Facebook data center (Facebook) Decades of work have paid off for Nvidia . The next computer revolution is here, and the company is set to dominate its competition, according to Jefferies. "IBM dominated in the 1950's with the mainframe computer, DEC in the mid 1960's with the transition to mini-computers, Microsoft and Intel as PCs ramped, and finally Apple and Google as cell phones became ubiquitous," Mark Lipacis wrote in a note to clients. "We believe the next tectonic shift is happening now and NVDA stands to benefit the way these aforementioned tech giants did in prior transitions." Nvidia has been working on its CUDA computing platform and its graphics processing unit (GPU) technology for years. Traditionally, a computer has worked in a linear way, processing one task at a time on the central processing unit (CPU). Shortly after GPUs were introduced in the 1990s, programmers began using them to break tasks into lots of smaller problems and solving them all at the same time on the GPU. This is called "parallel processing." For certain types of problems, like rendering lots of graphics elements in a video game, GPUs were far superior to the single-minded CPU. They were slower at single tasks, but could handle lots of problems at the same time. Nvidia developed a programming platform, called CUDA, to take advantage of the way their GPUs could handle these multi-faceted problems. CUDA made it easy to break traditional problems into multiple parts that ran much faster on a GPU than the traditional CPU. Fast forward to modern times where artificial intelligence and deep learning technologies are the hot trends. Companies like Google, Tesla and Amazon are using artificial intelligence to program self-driving cars , conquer ancient board games and develop smart personal assistants . Luckily for Nvidia, artificial intelligence and deep learning programs are perfectly suited to run on its GPUs and CUDA platform. Jefferies thinks these two technologies give Nvidia a huge advantage over the competition. Story continues "We see NVDA as a major beneficiary of the 4th Tectonic Shift in Computing, where serial processing (x86) architectures give way to massively parallel processing capabilities as the next wave of connected devices approach 10b units by 2022," Jefferies said. As tech giants build out new data centers to handle their ballooning artificial intelligence research, they often turn to Nvidia to supply the hundreds or thousands of GPUs they need. MIT recently said Nvidia has spent around $3 billion to develop its current data center chip, and it's a move that has paid off for the company. MIT named Nvidia as the smartest company in the world in 2017, in part, because of this investment. Nvidia has been making waves in the autonomous-car business as well. The company recently announced partnerships with Baidu, Volvo and Volkswagen to improve their self-driving car technologies and its technology is already being used in vehicles made by Tesla, Audi and Toyota. Cryptocurrency mining is another example of a process that runs better on GPUs. Nvidia has been raking in profits in that area too, and one Wall Street bank thinks it will be just another sector that Nvidia will come to dominate . Investors have been rewarding Nvidia as it takes the computer world by storm. Shares of Nvidia are up 48.55% this year. While it might take some time before Nvidia's $87.04 billion market cap comes close to the companies that dominated the last computing revolution (Alphabet at $598.61 billion and Apple at $751.88 billion), Jefferies has faith in the company. The investment bank raised its price target to $180, up about 19% from Nvidia's current price. Click here to follow Nvidia's share price in real time. Nvidia stock price (Markets Insider) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider This upgrade will extend the life of your MacBook Air for years Most people blow 70% of their money on 3 things and cutting back could be the key to retiring much earlier Bitcoin and Ethereum are 'cannibalizing' gold || Bitcoin struggles to fend off slump as rival Bitcoin Cash soars: The blockchain supporting the cryptocurrency split into two, creating a rival Bitcoin Cash Investing.com Bitcoin traded lower on Wednesday, a day after the blockchain supporting the cryptocurrency split into two, creating a new competitor called bitcoin cash. On the U.S.-based Bitfinex exchange, Bitcoin fell to $2,708.1, down $27.2 or 0.99%. Bitcoins blockchain the digital ledger which records every bitcoin transaction split into two at 08:20 ET Tuesday, in an event know as a hard fork, creating a competing currency called Bitcoin Cash. Despite a lack of support for its network, Bitcoin Cash, got off to a good start, rallying 65.54% to $389.49 according to coinmarketcap.com, as market participants defected to the newly created virtual currency. Bitcoin Cash is worth only a fraction of bitcoin and may struggle to build on momentum as some of the biggest bitcoin wallet providers dont have immediate plans to support Bitcoin Cash. As of today, we have no immediate plans to fully support the Bitcoin Cash fork within our main product," Blockchains Alsyon Margaret said on Sunday. The hard fork came after a long-term debate on how best to solve bitcoins scaling problem to speed up transactions on the network. Bitcoin transactions are limited to 1-megabyte every 10 minutes - or seven transactions per second. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency. The majority of bitcoin miners programmers who get paid to contribute computing power to the bitcoin network had initially pledged support for software upgrade SegWith2x, leading many to believe that the virtual currency would avert a split. But some members of the bitcoin community, felt the proposal failed to adequately addressed the problem and launched an alternative proposal, Bitcoin Cash. The two rival proposals - Segwit2x and Bitcoin Cash - are attempting to solve this problem in different ways. Bitcoin Cash seeks to increase the block size to 8-megabytes whereas SegWit2X proposes moving transaction data outside of the block on a parallel track with plans to increase bitcoins block size later in the year. Story continues Meanwhile, Ethereum, fell to $220.53, up 4.12%. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Brazil's Bradesco web, branch services hit by intermittent glitch Silicon Valley imitation meat startup raises $75 million Spain to extradite accused Russian bank account hacker to U.S. || GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700: (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoinhas held strong support and has its sights set on a test of the $3,000 level, according to Goldman Sachs.
In a note sent out to clients on Monday,Sheba Jafari, the head of technical strategy at the bank, updated her recent chart work on the cryptocurrency.
The $1,856 to $1,790 area "has the potential to act as strong support," Jafari wrote. "All in all, the balance of signals appear to be shifting to a more positive tone."
Jafari's latest note comes two weeks after she predicted the cryptocurrency wassetting up for a big drop.At the time of her call, bitcoin was trading near $2,550 a coin. She said that bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." It fell a bit further,putting in a lowsomewhere between $1,758 or $1,852 (depending on which data you use).Jafari, however, always expected the gains would resume after the correction.And that they have.
Bitcoin has gained more than 20% from its July 17 low, and currently trades near $2,285. As to how far bitcoin can go from here, Jafari expects another run at record highs. "The minimum target for an eventual Vth wave from current levels is 2,988; an extended 5th could reach ~ $3,691."
Bitcoin is up 140% in 2017. It put in a record high of about $3,000 on June 12.
(Goldman Sachs)
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[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin -0.45%
Ultima: R$ 9354.06 Alta: R$ 9400.00 Baixa: R$ 9210.00
Fonte: Foxbit || Bitcoin é a moeda mais segura. Voce já tem as suas? Veja: http://www.emmis.com.br/como-comprar-bitcoins … #QuartaDeTremuraSDVpic.twitter.com/W5RStQabet || Bitcoin Price Technical Analysis for 06/15/2017 – Bears Pushing for a Breakdown http://ift.tt/2t47cPe #bitcoin || Un día dificil para los inversores de #BTC a la baja de precio...pero es para rectificar y luego viene el alza loves #bitcoin || btceEUR is trading at 2149 EUR
Next EUR update at >2175 or <2125 || $xpasc the new $ecc buy now only 2 sat!!!
$ecc $sc $eth $etc $btc $xvg $xrp || #Bitcoin -0.86%
Ultima: R$ 9210.00 Alta: R$ 9450.00 Baixa: R$ 9210.00
Fonte: Foxbit || Bitcoin is on pace to have its worst week since 2015 - http://www.marketwatch.com/story/bitcoin-is-on-pace-to-have-its-worst-week-since-2015-2017-06-15 … $BTC #bitcoin #fintech #crypto || Top 5 Languages Driving Google Trends’ Bitcoin Results https://themerkle.com/top-5-languages-driving-google-trends-bitcoin-results/ … via @themerklenews || One Bitcoin now worth $2530.00@bitstamp. High $2612.00. Low $2521.00. Market Cap $41.573 Billion #bitcoin pic.twitter.com/Vg3V22wWZe
|
Trend: up || Prices: 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-09-26]
BTC Price: 8118.97, BTC RSI: 19.38
Gold Price: 1507.50, Gold RSI: 51.15
Oil Price: 56.41, Oil RSI: 48.49
[Random Sample of News (last 60 days)]
Bitcoin price rises against dollar and pound on US-China trade fears: Some investors view Bitcoin as a safe haven when markets are in turmoil. Photo: Tomohiro Ohsumi/Getty Images Bitcoin is rising sharply against the pound and dollar on Monday amid continued trade tensions between the US and China. Bitcoin was up 6.7% against the pound to £9,647.83 ( BTC-GBP ) at 1.20pm and up 7.2% against the dollar to $11,770.98 ( BTC-USD ). The surge extends a rally that began last week and means the cryptocurrency has now risen 16% since Thursday evening. Bitcoin's price rally since last Thursday. Photo: Yahoo Finance UK The backdrop to bitcoins price rise is escalating trade tensions between the US and China, which have sent stock markets and the Chinese yuan diving. US President Donald Trump hit $300bn-worth of Chinese imports with additional 10% tariffs on Friday . China has responded by allowing the yuan to slide against the dollar, rather than stepping in to maintain exchange rates. The Chinese yuan fell to a seven-year-low against the dollar on Monday morning. Simon Peters, an analyst at trading platform eToro, said: The yuan has fallen against the dollar to levels not seen since the 2008 financial crisis, and Chinese investors are casting around for alternative assets for their wealth. China outlawed cryptocurrency exchanges in 2017 but trading may still be possible through over-the-counter dealers rather than centralised exchanges. The escalating tensions could also be driving investors outside of China to pick-up bitcoin. For a lot of currency holders, bitcoin is seen as a safe haven, Tom Maxon, head of U.S. operations at CoolBitX, said. The escalating tensions have provoked sell-offs in global stock markets as investors move into safer assets to preserve wealth. The FTSE 100 ( ^FTSE ) was down by 1.4% on Monday morning and the Hong Kong Hang Seng ( ^HSI ) closed 2.8% lower overnight. Bitcoins price rising while traditional markets falter extends a pattern seen earlier this year when trade tensions were flaring. Even though correlation does not equal causation and we still don't have enough data, it's difficult to ignore the coincidence that bitcoin rose sharply in May and June while the US and China trade tensions were at their height, Mati Greenspan, a senior market analyst at eToro, said in a note on Friday. Some analysts and bitcoin investors believe that bitcoin can be used as a safe-haven store on value in the same way as gold. Bitcoins rise over the last few days has mirrored a similar rally in the price of gold, although gold has not risen as fast. The precious metal was up 0.7% against the dollar to $1,468.90 ( GC=F ) on Monday morning. || CoinCorner’s data reiterates Forbes’ claims of 90% Bitcoin dominance: Earlier this week, Forbes reported that Bitcoin’s market dominance was actually more than 90%, despite data on CoinMarketCap suggesting it’s below 70%. The 90% figure came after examining the volume-weighted market cap of each digital asset, with Bitcoin taking a significant lead. The formula to calculate market cap on CoinMarketCap is very simple: circulating supply multiplied by price. But this doesn’t factor in inaccessible coins or a lack of liquidity, which means the figures are unreliable. Isle of Man-based crypto exchange and wallet provider CoinCorner has now backed up Forbes’ research, stating that its data “correlates with the 90% figure”. https://t.co/rJxvMRuFEc is a quick, easy and trusted way to buy Bitcoin in the UK 👌 — CoinCorner (@CoinCorner) August 22, 2019 In a press release shared with Coin Rivet, CoinCorner CEO Danny Scott said: “Our view is that rather than compare Bitcoin against altcoins as a flat value, it logically makes sense that the Forbes report has taken liquidity into consideration. Imagine trying to sell $100 million worth of Dogecoin in a very short period of time – the price would evaporate very quickly. Whereas with Bitcoin, it would be a drop in the ocean. “Altcoins are slowly dying out in respect of interest when compared to Bitcoin – and as always in this industry, it eventually comes back to Bitcoin.” He added: “At CoinCorner, our numbers also correlate with the 90% Bitcoin dominance figure. Last year, we introduced support for a number of altcoins – Ethereum, Litecoin, and Ripple – alongside our Bitcoin offering as a result of customer demand. This demand for altcoins followed the Bitcoin ‘hype’ in 2017 that saw the price of Bitcoin hit nearly $20,000. Story continues “Looking back on last year, we believe that the demand for altcoins was caused by the sudden increase in initial coin offerings (ICOs) and that the buzz around these pushed many people to experience FOMO, hoping that altcoins/ICOs would be the next Bitcoin. “We always knew that this would not be the case and our data supports this – 93% of customer transactions on CoinCorner are Bitcoin, leaving the other 3 altcoins to make up the remaining 7%.” For more news, guides, and cryptocurrency analysis, click here . The post CoinCorner’s data reiterates Forbes’ claims of 90% Bitcoin dominance appeared first on Coin Rivet . || North Korea slams accusations of crypto theft: Kim Jong-uns regime has vehemently denied North Korea has been using an army of hackers to siphon off $2 billion from the worlds crypto exchanges and banks. Officials from the sanctions committee of the United Nations Security Council recently pointed fingers directly at the secretive communist nation over the mass theft of huge sums of cryptocurrency, claiming the hacks were designed to fund Kim Jong-uns nuclear weapons programme. According to a Coin Rivet article for the Daily Express , Pyongyangs state-governed news service the Korean Central News Agency (KCNA) has hit back, branding the UNs startling accusation as a nasty game and even comparing it to Nazi propaganda. The United States and other hostile forces are now spreading ill-hearted rumours that we have illegally forced the transfer of two billion US dollars needed for the development of WMD programs by involving cyber actors, said the KCNA. A question being raised is on such fabricated information, unreasonably accusing us with no scientific ground, reflected even in the Midterm Report of the Panel of Experts of the Sanctions Committee against the DPRK, the UN Security Council, which we have never ever recognised. Fabrication The fabrication of such a sheer lie by the ringleaders of cybercrime and all other crimes is quite an absurd act aimed at re-enacting the same old trick as the Hitler fascist propagandists used to cling to, often saying Tell a lie a hundred times and it will pass as a truth. Such a fabrication by the hostile forces is nothing but a sort of nasty game aimed at tarnishing the image of the DPRK and finding justification for sanctions and a pressure campaign against it. The UN Security Council, however, maintains it is deeply concerned by North Koreas weapons capabilities and is not backing down from accusations that Pyongyang is heavily involved in cybercrime. The specialist branch of the UN says it is investigating a string of apparent cyber-attacks on up to 17 countries by hackers from North Korea. Story continues Earlier this year, in a Coin Rivet article for the Daily Express , one of the worlds leading cyber security experts labelled North Korea an extremely dangerous cyber power on a mission to steal Bitcoin throughout the world. Renowned digital security figure Gareth Niblett revealed a massive hacking programme codenamed Lazarus had infiltrated banks and crypto assets across the world, stealing at least $700 million. North Korea has been desperately trying to raise cash to combat international embargoes over recent years, and have resorted to stealing it since at least 2016, he said. They go where the money is. It started with traditional banking systems around the world Bank of Bangladesh and Banco de Chile for example and, more recently, moving to using malware to mine cryptocurrency. North Korea is one of a number of growing global cyber powers building offensive cyber capabilities for military, intelligence, and economic aims. Gareth Niblett accuses North Korea of being on a dangerous crypto mission
North Korea is on a dangerous crypto mission, says expert By Darren Parkin September 5, 2019 The post North Korea slams accusations of crypto theft appeared first on Coin Rivet . || SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security: The Takeaway: A new amended complaint against Ripple draws on the SEC’s framework for digital assets to outline how XRP might be a security – likely the first federal case to do so. The filing also cites California advertising law, in addition to federal securities law, to argue that investors were misled by Ripple’s promotion of XRP. While the case is a year old and has not yet received class-action status, the new complaint is the first that Ripple must respond to with a substantive answer. Ripple has until mid-September to file its response. ————————– Investors in the cryptocurrency XRP have filed a new complaint against Ripple that marshals the Securities and Exchange Commission’s own words to argue that the startup illegally sold unregistered securities. Related: XRP Price Charts First ‘Death Cross’ Since April 2018 The amended complaint , filed Aug. 5 in a year-old lawsuit against Ripple, includes several new arguments and may be the first federal case to cite the SEC’s guidance for applying existing law and regulation to crypto tokens. It also marks the first filing to which Ripple must directly respond by addressing the facts of the case. Four previous complaints were filed in California state court, but the company successfully moved to have these cases consolidated and shifted to federal court. Ripple has until Sept. 19 to file a response. “That filing will be the first time in the already-long history of this litigation that Ripple will substantively respond to the allegations around XRP,” said Jake Chervinsky, general counsel at crypto lending startup Compound Finance. The company has been in the legal crosshairs since May 2018, when investor Ryan Coffey filed the first of several lawsuits seeking class-action status against Ripple Labs, subsidiary XRP II, CEO Brad Garlinghouse and other individuals. XRP, which Ripple periodically sells, has “all the traditional hallmarks of a security,” Coffey claimed. Related: Ripple CEO Intends to ‘Press Advantage’ With New Investments Story continues Investors Vladi Zakinov , Avner Greenwald and David Oconer filed similar suits shortly thereafter. The lawsuits were combined and moved to federal court in November. While the suit has not yet been certified as a class action, law firms Susman Godfrey and Tayler-Copeland Law were appointed as co-lead counsel at the end of June, with investor Bradley Sostack being appointed as lead plaintiff. (Zakinov, Oconer and Greenwald were denied their own motion to be appointed as lead plaintiff.) The new amended complaint lays out “a strong case against Ripple,” said Chervinsky, noting that Susman Godfrey is “one of the best plaintiff’s law firms in the U.S.” In particular, he highlighted that the complaint claims XRP is a security under both federal and California state law. “This is important because California uses the ‘risk capital test’ in addition to the [federal] Howey test to determine whether a transaction qualifies as a security,” he explained. “The risk capital test is broader than the Howey test, meaning the plaintiffs could lose their federal securities claims and still win their state securities claims.” The plaintiffs’ complaint is trying to tie the XRP Ledger, the distributed network underlying XRP (and therefore the cryptocurrency’s price), back to Ripple, said Rebecca Rettig, a partner at the law firm of Fisher Broyles, which is not involved in the case. Ripple and Susman Godfrey declined to comment. SEC framework Perhaps the most important difference between the new complaint and its predecessors is the citation of the SEC’s framework for analyzing whether a digital asset qualifies as a security . “The Complaint reads like a love letter to the SEC,” Chervinsky said. “Although the SEC’s Framework is technically only non-binding guidance, the Court will likely give it significant weight in deciding how to apply the Howey test to the facts of this case.” Rettig agreed, telling CoinDesk that “this is the first time we have seen the SEC’s Framework applied in a case in federal court.” She added: “Although the framework on its own doesn’t have precedential value – meaning the court is not required to follow it – it will be very interesting to see how the court handles the utility of the framework in moving forward in determining whether XRP is a security.” The SEC published the guidance in April, providing for the first time a specific roadmap for how it might assess digital assets. Over the course of 11 pages, the amended complaint details how the plaintiffs believe XRP is a security based on the framework, stating that “XRP purchasers made an investment of money in a common enterprise”; “XRP investors had a reasonable expectation of profits”; and “the success of XRP requires efforts of Ripple and others”. “Lead Plaintiff and the Class invested fiat and other digital currencies, such as Bitcoin and Ethereum, to purchase XRP. As explained in the SEC Framework, investment of both fiat and digital currency meets the first prong of Howey,” the filing says. Ripple and its affiliated parties are the common enterprise, the complaint alleges, saying that any profit the potential class might see “are intertwined with the fortunes of Ripple.” The price of XRP is dependent on Ripple’s efforts, the lawsuit alleges. Investors would have expected the value of their holdings to grow based upon the efforts of the company. The complaint goes on to say: “Lead Plaintiff and the Class have entirely passive roles vis-à-vis the success of the XRP Ledger and XRP. Rather, as Defendants’ own marketing makes clear, the success of the XRP Ledger, and the profits the Class reasonably expected to derive from investing in XRP, are dependent on the essential technical, entrepreneurial, and managerial efforts of Defendants and their agents and employees.” Rettig noted that “each of the [factors in the SEC Framework] are based on underlying federal case law, so the litigants will likely rely upon these underlying cases and not simply the framework [itself].” Tweets as evidence Like past complaints, last week’s filing points to public statements made by Ripple executives such as CEO Brad Garlinghouse and CTO David Schwartz to bolster its argument. For example, Garlinghouse said in a 2017 CNBC interview that “people are looking at the success Ripple has been having as a company, and I think that’s increased the value of XRP,” according to the complaint. Elsewhere, the complaint says Garlinghouse “conceded” that Ripple’s own self-interest is tied up “with building and maintaining a healthy XRP market.” “The Complaint emphasizes Ripple’s own statements to prove that XRP investors had a reasonable expectation of profits flowing from Ripple’s managerial efforts,” Chervinsky noted. “This is similar to how the SEC framed its own Complaint against Kik,” the messaging app company that the SEC alleges violated securities laws when it raised $100 million during a 2017 token sale. Beyond interviews, the complaint cites tweets that the plaintiffs believe demonstrate that Ripple indicated XRP’s price would rise due to work the company was doing. Roughly 40 tweets are referenced in the filing, including tweets from the company, executives and other employees discussing exchange listings, Ripple’s XRP reserves and other marketing efforts. The complaint also references a Garlinghouse quote-tweet of a Motley Fool tweet which said companies using Ripple’s tools “could be a big deal for Ripple’s XRP cryptocurrency” as an example. “I’ve never seen so many citations to Twitter in a complaint before,” Chervinsky said. (The suit also notes that Digital Currency Group, which holds a stake in Ripple, is also the parent company of CoinDesk, and cites a 2017 article on this website reporting that XRP’s price had risen above $1 for the first time ever as “one of many instances in which Ripple would promote XRP price movements.” For the record: CoinDesk operates independently from the parent company, working in separate offices and maintaining strict policies on editorial independence and transparency.) Beyond simply promoting XRP, the complaint hints that Ripple may have gone as far as to mislead the general public about which of its various products were being adopted. “On April 26, 2017, Ripple tweeted a link to an article on its own site, proclaiming: ‘#Ripple welcomes 10 additional customers to our #blockchain #payments network.’ Neither this tweet nor the article it linked to informed readers that the blockchain payments network did not refer to the XRP Ledger, but rather Ripple’s xCurrent enterprise solution,” the complaint said, adding in the next paragraph: “Just days later, on May 3, 2017, with the price of XRP continuing to rise, Ripple tweeted : ‘#Ripple adoption is sparking interest in XRP ‘which has had an impressive rally in the last two months’ via @Nasdaq.'” California claims Securities law aside, the lawsuit also adds new claims that have not appeared in previous filings in the case, Chervinsky noted. “For the first time, the plaintiffs now claim that Ripple violated California’s false advertising and unfair competition laws by making fraudulent statements about the genesis, circulating supply, and adoption of XRP,” he said. The fact that this complaint is in federal court may have helped the plaintiffs. Chervinsky explained: “Interestingly, the plaintiffs probably couldn’t have alleged those claims on behalf of a global ‘class’ — all persons or entities who purchased XRP — if Ripple had left the case in California state court instead of removing it to federal court.” According to the filing, Sostack and his fellow plaintiffs are looking for Ripple to reimburse them for their losses. For the lead plaintiff, those losses total $118,100, according to the complaint, but the full size of the losses allegedly incurred by the class has not yet been calculated. More significantly, the plaintiffs want the court to declare that XRP is a security, which could have an impact on Ripple’s ability to continue selling XRP from its reserves, as well as potentially limit who can acquire the token. Other prayers for relief include the plaintiffs wanting Ripple to pay for all legal fees and have the court award any other damages that might be warranted. Ripple now has 45 days from August 5 to answer the complaint, and could file a response (like Kik Interactive did to the SEC ) or a motion to dismiss. Image via CB Insights YouTube Related Stories Kik Says SEC Lawsuit ‘Twisted Facts’ About Startup’s $100 Million Token Sale R3 Doubles London Office Space for Blockchain Hiring Spree || Bitcoin peer-to-peer exchange Paxful sees 70 percent surge in bank transfers: Business is booming forBitcoinpeer-to-peer exchange Paxful, thanks in large part to the onboarding of “institutional clients” to its platform, according to Paxful CEO Ray Youssef.
Without naming names, Youssef toldDecryptthat “smaller, entrepreneurial financial institutions” were responsible for a 70 percent surge in bank transfers on Paxful’s platform in July. In fact, between June and July, bank transfers on Paxful jumped from about $4 million to over $7 million in volume, according to a report from the company.
Paxfulis primarily a peer-to-peer Bitcoinmarketplace, but it also offers several other payment forms including standard bank transfers. According to the company’s report, about four percent of Paxful transactions occur via bank transfers, and more than 100,000 trades were conducted using the bank transfer payment method in July, while the average trade was equal to about $100 USD.
Paxful has been busy expanding its global footprint as of late, expanding into Latin America and parts of Africa. In Nigeria, for example, bank transfers on Paxful went up roughly 46 percent, the report stated, while South Africa saw a 669 percent increase. It was Indonesia, however, that experienced the largest surge—a whopping 2,500 percent, according to the report.
“For countries like Indonesia and India, Paxful offers them the freedom of options that most centralized exchanges don’t,” Youssef said. “The normalization of crypto and the remittance market is also a factor that has led to this growth.”
Youssef added that the fee for bank transfers has dropped from about one percent to 0.1 percent, which may be another contributing element. Customers are always looking to save money and take advantage of smaller fees.
“For the sellers, the 0.1 percent fee and our [know-your-customer] verification system helps them be more secure,” he explained. “For the buyers, bank transfers have the most competitive rates in the marketplace. It is more-or-less instant and convenient, especially if the seller has the same bank as you.”
Youssef claimed that institutional players now make up a healthy portion of Paxful customers, many of whom are looking to take advantage of the company’s offerings to grow their businesses.
Aside from bank transfer activity, Youssef explained that the platform has witnessed heavy bursts in peer-to-peer crypto trades as well. The company initially began as a way for bitcoin enthusiasts to trade, buy and sell Bitcoin privately, and Youssef said many other factors are adding to this upsurge as well.
“Political events like trade wars may also be a contributing factor to increased volume, as more people buy bitcoin to preserve the value of their wealth,” he said. “Just recently, theArgentine pesodropped by over30 percent in value, which may have had a similar effect.” || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/09/19: Bitcoin Cash ABC fell by 1.24% on Saturday. Following on from a 2.56% slide on Friday, Bitcoin Cash ABC ended the day at $310.99.
A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $315.77.
Falling short of the first major resistance level at $323.63, Bitcoin Cash ABC slid to a mid-day intraday low $309.51.
Steering clear of the first major support level at $308.73, Bitcoin Cash ABC recovered to an afternoon high $314.09.
A late slide back to $310 levels left Bitcoin Cash ABC in the red on the day.
At the time of writing, Bitcoin Cash ABC was down by 0.90% to $308.20. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $309.51 to a low $308.20.
Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $308.41.
For the day ahead, Bitcoin Cash ABC would need to move through to $312 levels to support a reversal of Saturday’s losses.
Bitcoin Cash ABC would need support of the broader market, however, to take a run at the first major resistance level at $314.67.
Barring a broad-based crypto rally, the first major resistance level and Saturday high $315.77 would likely limit any upside.
Failure to move through to $312 levels could see Bitcoin Cash ABC spend a 3rdconsecutive day in the red.
An extended sell-off through the day would bring the second major support level at $305.83 into play before any recovery.
Litecoin slid by 2.52% on Saturday. Following on from a 2.25% fall from Friday, Litecoin ended the day at $73.18.
A bullish start to the day saw Litecoin rise to an early morning intraday high $75.5 before hitting reverse.
Falling short of the first major resistance level at $77.23, Litecoin fell through the first major support level at $72.94 to a mid-day low $72.88.
Finding support in the early afternoon, Litecoin recovered to $74 levels before taking another hit. The 2ndreversal saw Litecoin fall back through the first major support level to an intraday low $72.04.
Litecoin found support from the broader market, however, to limit the downside late in the day.
At the time of writing, Litecoin was down by 1.15% to $72.34. Tracking the broader market, Litecoin fell from an early morning high $73.25 to a low $72.13.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, Litecoin would need to move through the morning high $73.25 to $73.60 levels to support a day in the green.
Support from the broader market would be needed, however, for Litecoin to take a run at the first major resistance level at $75.11.
Barring a broad-based crypto rally, however, Litecoin would likely come up short of $74 levels on the day.
Failure to move through to $73.60 levels would see Litecoin spend a 4thconsecutive day in the red.
A fall through to sub-$72 levels would bring the first major support level at $71.65 into play. Barring an extended sell-off through the day, however, we would expect Litcoin to steer clear of the second major support level at $70.11.
Ripple’s XRP fell by 1.36% on Saturday. Following on from a 2.66% slide on Friday, Ripple’s XRP ended the day at $0.29054.
A particularly bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.29843.
Falling short of the first major resistance level at $0.3038, Ripple’s XRP slid to an early afternoon intraday low $0.28701.
Steering clear of the first major support level at $0.2848, Ripple’s XRP recovered to an afternoon high $0.29432. The visit to $0.2940 levels was brief, however, with Ripple’s XRP sliding back to wrap up the day at $0.2900 levels.
At the time of writing, Ripple’s XRP was down by 2.52% to $0.28322. A particularly bearish start to the day saw Ripple’s XRP slide from an early morning high $0.2050 to a low $0.28263.
Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2856.
For the day ahead, Ripple’s XRP would need to break through the first major support level to $0.2920 levels to signal a rebound.
With heavy gains for the current week, however, Ripple’s XRP would need the support of the broader market to break out from $0.2920.
Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of the first major resistance level at $0.2970.
Failure to move through to $0.2920 levels could see Ripple’s XRP spend a 4thconsecutive day in the red.
A fall back through the morning low $0.28263 would bring the second major support level at $0.2806 into play.
Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.27 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• European Equities – Weekly Review – 21/09/19 || Binance’s US exchange goes live with seven cryptocurrencies: Binance.US, the American outpost of crypto exchange giantBinance, launched today, offering up seven cryptocurrencies to citizens in 37 states.This marks the exchange’s first official steps into the US, giving it access to a large crypto-focused market. Trading will begin tomorrow at 13:00 UTC.
“We believe we are just at the beginning of crypto adoption globally. There is room to grow for every organization in this space, and the industry will continue to get bigger in every country around the world,” Binance CEO Changpeng Zhao toldDecrypttoday.
Though Binance could always be accessed by Americans using a VPN, Binance was never technically allowed to operate in the US. This summer, Binance acquiesced to regulators’ demands and cracked down on those users, stopping them from accessing it. It then createdBinance US—a regulatory-friendly subsidiary—which has just gone live.
But the exchange’s offering is somewhat limited, for now. While Binancelistsalmost 600 cryptocurrencies, Binance.US will have just seven digital assets are available at launch:Bitcoin,Binance Coin,Ethereum,XRP,Bitcoin Cash,Litecoin, andTether. Not even BUSD, Binance's stablecoin approved by the NYDFS, will launch on the platform.
More, however, are on the way: Cardano, Brave’s Basic Attention Token, Ethereum Classic, Stellar, and 0x are open for deposits, and a bunch more open for consideration, including EOS, Dash, and Augur. But it’s unclear when they will be available for trading.
Bitcoin trading on Bakkt breaks a quarter of a million dollars
“Binance.US is tailor-made for Americans at every step of its development,” said Binance.US’ CEO, ex-Ripple executive Catherine Coley, in a press release. Yet the exchange isn’t even available in all American states. Thirteen are missing: Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, North Carolina,New York, North Carolina, Texas, Vermont, and Washington. “Support for additional jurisdictions and listings may be added at a later date,”Coley added.
Specifically, like many things in crypto, the exchange won’t be available to New York residents. This is because the New York Department of Financial Services (NYDFS) has different criteria for financial companies looking to operate in the state. While Binancehasgot approval for its US-dollar backed stablecoin to, it has yet to do so for its exchange.
But it’s still a step forward. As Binance CEO Changpeng Zhaotweetedback in June, “short term pains may be necessary for long term gains.” And if Binance shows it can operate in the US, it may seek approval in New York.
Zhao is optimistic. “Through this partnership, we believe Binance.US will open a new key gateway to America, and beyond, furthering the enthusiasm and tangible use cases for both blockchain and cryptocurrency,” he said, in a press release.
But, not everyone is convinced. Blockchain critic David Gerard wonders at Binance.US’ decision to list its own native Binance Coin (BNB) on the new exchange. “BNB was really obviously promoted as a security under the Howey Test,” he claimed, referring to the test for whether something counts as a security.
“I don't know if Binance Malta issuing it and Binance.US trading it will be sufficient legal insulation for them,” he added.
In response, Zhao argued that the separation between the two companies should help with its compliance. “In the US, where deep experience in interacting with local regulators is required, we are confident that licensing our technologies to Binance.US will allow compliant development. Our local partner Binance.US will help to navigate the unique regulatory landscape in the US, and at the same time work with the industry players there to help grow the overall market,” Zhao said, via Telegram.
But this clarity might be on the horizon. The SEC isdue to meetwith Congress tomorrow to discuss the issue of whether cryptocurrencies—including ones issued in ICOs—are securities. The world will be watching. || Bitcoin Faces Further Losses After Rejection Near $11K Price Hurdle: • Bitcoin has created a rising wedge pattern on the 4-hour chart. A wedge breakdown, if confirmed, could yield a drop to levels below $10,000.
• Bitcoin’s recent recovery from $9,467 lacked high-volume support, so a rising wedge breakdown looks likely. The weekly chart is also flashing bearish signals.
• A high-volume move above $11,000 would invalidate the bearish case and allow a rise to $11,500. A weekly close (Sunday, UTC) above $12,000 is needed for a full bullish revival.
Bitcoin is losing altitude after rejection near the psychological hurdle of $11,000 earlier today, and may fall below $10,000 in the next 24 hours.
The leading cryptocurrency by market value rose to a high of $10,956 at 00:03 UTC today on Bitstamp, extending its recovery from the Aug. 15 low of $9,467.
The rise to $11,000 was expected, as the cryptocurrency’s hourly chart wasreportinga high-volume ascending channel breakout or a bullish continuation pattern yesterday.
Related:Bitcoin’s Price is Up More Than $1K Since Bakkt Futures News
The momentum, however, soon petered out just short of $11,000 and prices fell back below $10,800 by 03:30 UTC. Another wave of selling hit the markets in the European morning session, pushing BTC lower to $10,550 in the 75 minutes to 09:00 UTC.
As of writing, BTC is changing hands at $10,690 on Bitstamp, representing a 0.25 percent loss on a 24-hour basis. Prices are still up more than $1,000 from the low of $9,467 seen on Aug. 15.
Investors haveassociatedthe recent recovery with Friday’sannouncementby the Bakkt exchange that it will be launching physically-settled bitcoin futures on Sept. 23, with somebelievingthe news marks a long-term bullish development for bitcoin.
In the short-term, however, there is a strong probability that BTC will fall back below $10,000, as the recovery from recent lows has taken the shape of a bearish reversal pattern.
Related:These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It
BTC has created a rising wedge pattern on the 4-hour chart, comprising converging trendlines connecting higher highs and higher lows.
The converging nature of the trendlines represents weakening bullish momentum. Hence, a breakdown is said to confirm a bullish-to-bearish trend change.
As of writing, the lower edge of the rising wedge is seen at $10,494. A 4-hour close below that level would confirm a rising wedge breakdown – that is, the bounce from $9,467 has topped out near $11,000 and the bears have regained control.
A wedge breakdown, if confirmed, would open the doors to $9,974 (horizontal support line). A violation there would expose the Aug. 15 low of $9,467.
The odds of BTC confirming a wedge breakdown in the next few hours is high, as the relative strength index has dived out an ascending trendline in favor of the bears. Further, trading volumes dropped during the recovery from $9,467, which usually happens during temporary corrective rallies.
The 5-week moving average (MA) has crossed below the 10-week MA, confirming the first bearish crossover since February.
The moving average convergence divergence (MACD) histogram continues to produce lower highs and is currently reporting the weakest bullish momentum in six months. The 14-week relative strength index (RSI) has also produced a bearish lower high.
BTC fell 10.49 percent last week, strengthening the case for a deeper pullback put forward by the rejection above $12,000 two weeks ago.
All-in-all, BTC risks falling below $10,000 in the next 24 hours or so. The bearish case would be invalidated if prices print a 4-hour close above $11,000 on the back of high volumes.
That would signal a continuation of the recovery from the Aug. 15 low of $9,467 and allow a rise to $11,589 (resistance on the 4-hour chart).
Disclosure:The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock;charts byTrading View
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• $9,650: Bitcoin Price Dips Below Key Long-Term Support || WealthStack New Wrinkle For Advisors & Fintech: Blair duQuesnay Blair duQuesnay, CFA and CFP, is an investment advisor at Ritholtz Wealth Management, where she works with the firm’s clients to create sustainable financial plans and investment strategies. She is also writes the financial blog, “The Belle Curve,” and will be appearing at the “Wealth/Stack: Investing + Tech = The Future Of Advice” conference September 8-10 in Scottsdale, Arizona. Ritholtz Wealth Management is putting on the conference; the event is described as “created by advisors for advisors.” ETF.com: Would you explain your role at Ritholtz Wealth Management (RWM)? Blair duQuesnay: I'm a client-facing investment advisor. So I do financial plans for clients. I talk to people interested in becoming clients of the firm and then become their advisor. I'm also a blogger. I write the blog “The Belle Curve,” and blog about financial planning topics and investing. So it's a dual role. I also serve as a member of the investment committee. ETF.com: You're based in New Orleans. Are your clients all in the Louisiana area? Do you have a territory, or is it national? duQuesnay: Not necessarily. I work with clients all over the country. ETF.com: How many advisors are at the firm that are in your role, and how many people work at RWM? duQuesnay : We have 31 employees and 17 advisors. ETF.com: Tell me a little bit about the WealthStack conference. duQuesnay: Wealth Stack is a new conference. We’ve done a few conferences in the past, but this is our first collaboration with Informa. And yes, this is a brand new conference by advisors for advisors. There's a dual component though. It's also for fintech firms looking to introduce their technology to advisors. There's going to be a competition on best new financial technology inside the conference. ETF.com What kind of fintech are we talking about? duQuesnay: We have speakers from some of the top technology providers in the industry, such as Orion Advisor Solutions, which provides performance management software that also does billing for clients. It's also the client portal. So that's a huge one. Story continues We have speakers from some of the custodians such as Dani Fava of TD Ameritrade. Wealth manager firms can have a back shop like Shirl Penney's Dynasty, and it's all through one provider, or they have 10-12 different providers, and everything from performance management to marketing, email management, data collection and account aggregation. There's so many technologies out there trying to make what we do to serve clients easier and faster. And it's moving faster than we can really keep up with. ETF.com: What’s behind the name WealthStack? duQuesnay: There are two tracks of the conference. There's the wealth side talking about how to provide wealth management services to clients. That could be investing related, process management related, how you run your firm, and everything from succession planning to how to brand yourself on social media, to what to invest in. And then the stack side is the technology aspect of the conference, because you need your technology stack. ETF.com: What led you into financial advising? How did you start? duQuesnay: That's a long and winding road. I went to college to major in dance. I was a ballet dancer and ended up deciding I should probably get two majors if I were going to major in dance, and ended up really only majoring in business finance concentration. And I’ve worked in wealth management my entire career. I was hired out of college to join a team at a brokerage firm, worked there for 5 ½ years until the financial crisis, when I was laid off. Then I joined an RIA firm in New York, where I learned financial planning and took my CFP, and it's been 10 years since. I joined Ritholtz Wealth Management over a year ago. ETF.com: I’ve read that it's difficult for advisory firms to find younger advisors coming out of college and getting into wealth management, just finding the new generation of advisors. Do you see and hear that? duQuesnay: Yes, I think there’s a shortage of young people. The average advisor is 59 ½. If you look at the data on how many certified financial planners are under age 40 and how many CFA [chartered financial analyst] holders are under age 40, we know that there are fewer people entering the business. But on the flip side, what you've seen is the creation of financial planning degrees at universities. So my alma mater, University of Georgia, didn't have a financial planning degree when I was there, but they do now. They have one of the best programs in the country. Texas Tech, Kansas State, Virginia Tech are some of the top. There are certainly people who are interested and who are going to college to get a degree in personal financial planning. But without a doubt, we need more people to enter the industry. I think when I was coming out of school, finance was very popular, but everybody wanted to be an investment banker. Today finance is very unpopular, and everybody wants to work for a tech company. I do think it's a challenge to find young people who want to be financial advisors. ETF.com: Let's talk about your philosophy as an advisor. You wrote a blog on why you should fire your male broker: 1) what did you want to get out of that piece; and 2) when it comes to male/female advisors, is there a significant difference? duQuesnay: It’s really the fact that, for over the 15 years I've been an advisor, the ratio of women to men in the industry has remained steady at about 20% [women]. So we're not seeing progress there like you're seeing in other fields, such as law and medicine. Even in engineering we're seeing progress. I was trying to point out to women who may be considering their career options that being a financial advisor is an excellent option. It's a work/life balance that you may not get in medicine or law. And what's not advertised, really, is that it's an opportunity to help people—to help people figure out how to pay for college, how to retire when they want to. The industry is mostly portrayed as people trying to make money and trade and pick the best stocks and the winning investments. But financial planning is much more about creating goal-based plans and figuring out how people are going to meet their goals. ETF.com: And in terms of how you get your clients, do they come to you? What is the recruitment process? duQuesnay: Well, we're a very unique situation, because our clients are reaching out to us because they have already been reading our blogs or have seen Josh [Brown] on television or have heard Barry [Ritholtz] on Bloomberg Radio or read one of our books or have seen one of our YouTube videos. So people are reaching out to us. They already know what we do, what our philosophy is what our business model is. So, we're in a very fortunate position as advisors, where these names are handed to us and we reach out to them, and see if they're a good fit for our firm. I wouldn't say that that's the norm in the industry by any means. ETF.com: How many clients do you work with? duQuesnay: I personally am working with about 35 families. An advisor at our firm will probably work with between 80 and 100 families based on the amount of time it takes to service those families. I've been at the firm just over a year, and I've added over 20 families. But we’re a team-based approach. So the advisor is the primary relationship management contact, but if clients want to talk in more detail about their investments, they might talk to Barry Ritholtz, Michael Batnick or Ben Carlson. If they have a tax question, they’ll work with our CFO Bill Sweet. Patrick Haley is the head of our trading department; he works with clients on transactions. So they're really hiring the whole team, and the advisor is the primary relationship manager. ETF.com: Going back to the conference, will you be on stage? duQuesnay: Yes. I'm really excited to interview Allison Schrager on Sunday night at WealthStack. She is the author of “An Economist Walks Into a Brothel,” which is a very fascinating concept. I’m also excited to hear about all of the conversations she had with different types of risk-takers, whether it's horse breeders or professional poker players, but also to talk to her about her primary research, which is how to fund and pay for retirement. I think that her research in that area is very fascinating. Another can't-miss session is the breakfast clash of the ETF pundits with [ETF.com Managing Director] Dave Nadig and a variety of other people from the industry. That is going to be a fascinating breakfast conversation. ETF.com: That'll wake everyone up, for sure. Recommended Stories Hot ETF Topics From Wealth/Stack Hot Reads: SEC Chairman Speaks On Bitcoin Wealth/Stack 2019: Live Blog Hot Reads: 10 Best New ETFs To Buy Permalink | © Copyright 2019 ETF.com. All rights reserved || Fewer People Are Sending Bitcoin to Largest Crypto Exchanges: (Bloomberg) -- The notion that more people are trading cryptocurrencies? Well, it just may be wrong. Fewer people have been sending Bitcoin to major exchanges in recent months, according to crypto data tracker TokenAnalyst. After peaking in 2017, the number of unique addresses sending the world’s most-popular cryptocurrency to exchanges such as Binance and Bitfinex has been declining, it found. The number of addresses sending the token to the Bitfinex trading platform is at a two-year low, while the amount on Malta-based Binance -- the world’s largest crypto exchange by volume -- dropped to early 2018 levels, according to TokenAnalyst. That signals a “lack of retail interest in general currently in crypto,” said Sid Shekhar, co-founder of London-based TokenAnalyst. “If we go by the ‘Bitcoin as safe haven in times of recession’ narrative, the number of new users/buyers should actually be increasing.” Other data point in the same direction. Bitcoin exchange trade volume in U.S. dollars is at its lowest point since May, and has been trending down since peaking in 2017, according to Blockchain.com. Web traffic to Binance and Hong Kong-based Bitfinex is at a four-month low, according to tracker SimilarWeb. That said, crypto user data is difficult to monitor due to the anonymous nature of the ownership of the assets. Bitcoin on-chain transaction activity has nearly quadrupled this year, peaking in July following a price rally ended in June, according to tracking service Chainalysis. Faced with fewer active traders, exchanges -- which make the bulk of their money off of transaction fees -- are increasingly catering to power users. Only about 11% of all crypto holders were sending coins to someone -- as a trade or a payment -- once or twice a week last year, according to a Foundation of Interwallet Operability survey of more than 200 users released in February. To increase user loyalty and the amount of fees they can charge, a number of exchanges, such as Binance and Bitfinex, have rolled out or expanded availability of margin trading, letting users borrow funds to speculate. Binance began user testing its futures products this month, after allowing traders to lend out their funds to others in August. Story continues “The more products you offer, the more sticky your client,” said Jeff Dorman, chief investment officer at Arca, a Los Angeles-based asset manager that invests in cryptocurrencies. “All consumers prefer a ‘one-stop shop.’” Binance and Bitfinex officials didn’t immediately return requests for comment. The user growth crunch is also seen pushing some of the 200-plus crypto exchanges toward consolidation. “The whole exchange landscape is very much fragmented,” Ian Taylor, head of advisory services at Galaxy Digital Holdings Ltd., said in a phone interview. “There’s been a lot of exchange platforms launched in the last 6-12 months, all offering slightly varying sets of services. What I’d expect to see over time is some sort of consolidation to bolster user growth.” To contact the reporter on this story: Olga Kharif in Portland at [email protected] To contact the editors responsible for this story: Jeremy Herron at [email protected], Dave Liedtka, Rita Nazareth For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P.
[Random Sample of Social Media Buzz (last 60 days)]
Cloud Mining Sites What's Happening and Freebitco https://t.co/B1rxFA3ByM
#New #Crypto #Bitcoin #Litecoin #Thursday || BTC
日足レベルの話をします。
過去三回のチャレンジでBTCは一度もこのバンド帯の上で滞空することができず、叩き落とされてきました。
挑戦のたびに下落幅が抑えられ、反発力が小さくなる傾向があります。
上抜けの際にこの地帯(7500〜8000$)を明確に割らないことが調整終了の条件となります。 https://t.co/NpAwGkTUMG || BTCNEXTが、QDAOのIEOをしています。
後、QDAOのOTCも始まってますよ。
#QDAO #IEO #USDQ #BTCNEXT #StableCoin
https://t.co/s5XfPpf51j || I can only wish || Paseando por el código de BITCOIN (SV)
https://t.co/TpRVDBTvms || びと子、1万ドル割れ
【ビットコイン国内 #BTC/JPY 24時間変動比】-6.31% (-72386) 1074682 #仮想通貨 #暗号通貨 #bitFlyer #ビットフライヤー https://t.co/d4DZTliTV9 https://t.co/jxxScrKCpc || Binance: $11917.69
Bitstamp: $11904
Bitfinex: $11941.0
Coinbase: $11961.61
Check out some #AltCoins https://t.co/LR6I2KNkx2
Start trading now https://t.co/mCPS3QAdOM
#bitcoin #ethereum #blockchain || @AriDavidPaul @perrymetzger @m_deff @lopp @prestonjbyrne @matthew_d_green /2 It is equally important to honestly reflect and take note that the power consumption required by bitcoin is far from ideal. Those of us working on sustainable solutions would be negligent not to. Bitcoin community should consider examining more efficient systems. || UZZO, fintech brasileira que oferece solução de pagamentos com criptomoedas, lançou uma conta digital que facilita pagamentos em mais de 190 países https://t.co/LdDZFbM4he || BitMEX $BTC Whale:
$3,000,000 worth of #Bitcoin bought at $10,441.29 17:57:29 2019/09/06
| 💰💰💰💰💰💰💰💰💰💰 "Wait for the bounce, then short the corn"
|
Trend: down || Prices: 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-04-19]
BTC Price: 1210.29, BTC RSI: 61.48
Gold Price: 1281.40, Gold RSI: 65.85
Oil Price: 50.44, Oil RSI: 44.80
[Random Sample of News (last 60 days)]
Zacks Investment Ideas feature highlights: Alamos Gold, Avino Silver, Fortuna Silver and Great Panther Silver: For Immediate Release Chicago, IL – March 14, 2017 – Today, Zacks Investment Ideas feature highlights Features: Alamos Gold ( NYSE: AGI – Free Report ), Avino Silver ( NYSEMKT: ASM – Free Report ), Fortuna Silver ( NYSE: FSM – Free Report ) and Great Panther Silver ( NYSEMKT: GPL – Free Report ) . Bitcoin Crash Creates Golden Opportunity I’ve been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasn’t been wrong just my timing. And now, with gold prices bouncing off $1,200 and last week’s Bitcoin debacle I’m taking another stab at it. The Bitcoin debacle I’m referring to is last week’s decision by the SEC to reject the Winklevoss Twins’ proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SEC’s decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so I’m including it when I look for stock ideas. Of course there’s one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoin’s value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and gold’s move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. I’ve put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold ( NYSE: AGI – Free Report ) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver ( NYSEMKT: ASM – Free Report ) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver ( NYSE: FSM – Free Report ) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver ( NYSEMKT: GPL – Free Report ) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Looking for Ideas with Even Greater Upside? Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>> Get the full Report on AGI - FREE Get the full Report on ASM - FREE Get the full Report on FSM - FREE Get the full Report on GPL - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alamos Gold Inc. (AGI): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Great Panther Silver Limited (GPL): Free Stock Analysis Report To read this article on Zacks.com click here. View comments || This is where traders are putting money to work in the retail sector: The"Fast Money"traders weighed different plays on the retail sector for investors who are itching to get into the market.
Trader Guy Adami said he likes F5 Networks(NASDAQ: FFIV), but turned his nose up at Nike(NYSE: NKE). Adami said he would wait until the company reports earnings Tuesday, but he expects a move lower for the stock. Nike's stock is up 13 percent in the last three months.
Trader Tim Seymour said he likes PayPal(NASDAQ: PYPL)and Nike. He said he likes Nike because the company is starting to take back North American market share from Adidas(XETRA: ADS-DE).
Trader Brian Kelly said he also likes PayPal because it is growing and innovating in the payment space, especially with its acquisition of mobile app Venmo.
Trader Steve Grasso agreed and said he also likes PayPal. He said he also likes Nike because the company "has benefited from the implosion of Under Armour.(NYSE: UAA)" Under Armour's stock is down nearly 35 percent in the last three months.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
Steven Grasso's firm is long AON, APC, CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, VRX, WDR, WPX, ZNGA. Steven Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, VRX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No Shorts.
Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY, FXI Short: Yen, US Treasury Bonds.
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
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• A troubling sign in the market || Bitcoin soars above $1,100: (A Bitcoin sign is seen in a window in Toronto.Reuters/Mark Blinch)
Bitcoin has broken out to its best levels since the beginning of the year as overnight buying has the cryptocurrency higher by 4% at $1,101.70 per coin.
Tuesday's advance marks bitcoin's eighth straight gain and has run action above the $1,100 mark for the first time since January 5. A move above $1,161.85 will have bitcoin trading at its best level since November 2013.
The eight-day winning streak comes amid investor speculation the Securities and Exchange Commission will approve at least one of thethree proposed bitcoin-focused exchange-traded fundsdespite analyst concerns that none will be approved.
Bitcoin has had a wild start to 2017.
It rallied more than 20% in the opening week of the year, propelled by speculative buying in China. It then proceeded to crash 35%, bottoming out below $800, amid concerns China was going to crackdown on trading.
After shrugging off concerns that Chinese exchanges were going to charge aflat fee of 0.2% per transaction, buyers re-emerged and ran bitcoin above $1,050 before two of China's largest exchanges said they wereblocking withdrawals.
(Markets Insider)
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• Trump doubles down on baffling Sweden claims || AT&Ts Union Deal Reverses Outsourcing 3,000 Jobs: Amid several more contentious labor negotiations, and its biggest union announced they had settled terms early for a unit that covers 20,000 workers in the south. The Communications Workers of America and AT&T said they had struck a tentative four-year contract deal for workers in the companys wired telephone, cable, and Internet business in Arkansas, Kansas, Missouri, Oklahoma and Texas a month before the old contract expired. A key piece of the deal, which still must be approved by the workers, is a promise by AT&T to hire 3,000 people locally for jobs that have been previously outsourced, mostly overseas. The agreement comes as AT&T is facing tougher talks with the CWA over contracts that have already expired for 21,000 workers in the companys wireless business and 17,000 workers in the phone, Internet, and cable units in Nevada and California. While negotiations continue in those cases, the workers have been protesting around the country and authorized a strike , if necessary. But AT&T has had mostly good relations with its workers in recent years-unlike Communications , which suffered a bitter, seven-week strike last year. Fridays announcement marks another in a long line of successful deals. Since the start of 2015, AT&T has completed 28 straight deals with its unions, covering 123,000 workers. The last strike at the company was in 2012, and just for two days. Get Data Sheet , Fortunes technology newsletter. Under the deal announced on Friday, workers will get wage increases totaling over 11% over the four years and two weeks of paid parental leave for mothers or fathers, AT&T said. The CWA highlighted that the deal included affordable healthcare plans, one of the sticking points in the two more contentious negotiations. But the commitment by AT&T to hire locally for jobs previously outsourced may have been just as important. Like the Verizon workers who went out on strike, AT&Ts workers have also lately been focused on their employers outsourcing of call center jobs outside of the country. The union charges that the carrier has moved 8,000 call center jobs since 2011 to countries including the Dominican Republic, Mexico, and the Philippines. Story continues Halting the offshoring of call center jobs has also been the focus of a growing number of Democratic lawmakers in Congress. They introduced legislation this week, with the backing of the CWA, to discourage call center offshoring , after a plea to President Donald Trump to take such action by executive order was ignored. AT&T said it committed to hire 3,000 people in the local areas to fill work that is currently mostly performed offshore. W e worked with the union to bring work opportunities to the region, a spokesman for the company tells Fortune . Regarding the type of jobs, we will make those decisions as we work through and evaluate the needs of our business-we will consider all areas of our operations in the Southwest and place them where it makes the most sense. See original article on Fortune.com More from Fortune.com This Scam Surpassed Identity Theft for the First Time Ever Last Year Why NBC's Snap IPO Investment Is One of Its Biggest Bets Ever Bitcoin Just Became More Valuable Than Gold Here's How Snap's IPO Just Proved We're In a Tech Bubble This Amazing Stat Suggests the Trump Bump Will Continue || Bitcoin hits record high above $1,200 on talk of ETF approval: * Graphic: bitcoin price and percentage daily moves http://reut.rs/2lR1Mqk By Jemima Kelly LONDON, Feb 24 (Reuters) - Digital currency bitcoin jumped to a record high above $1,200 on Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval. Traditional financial players have largely shunned the web-based "crytpocurrency", viewing it as too volatile, complicated and risky, and doubting its inherent value. But bitcoin, invented in 2008, performed better than any other currency in every year since 2010 apart from 2014, when it was the worst-performing currency, and has added almost a quarter to its value so far this year. It soared to as high as $1,200 per bitcoin in early Asian trading on Europe's Bitstamp exchange, before easing to about $1,190. http://reut.rs/2lR1Mqk Bitcoin prices. That put the total value of all bitcoins in circulation -- or the digital currency's "market cap", as it is known -- at close to $20 billion, around the same size as Iceland's economy. Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market. But despite potentially high returns, low correlations with other currencies and assets, falling volatility and increasing liquidity, there is scant evidence so far that most major players are considering investing in the digital currency. "Bitcoin is just not liquid enough for us to even think about," said Paul Lambert, fund manager and head of currency investment at Insight, in London. "We manage billions and billions of dollars we'd need to be able to go into that market and trade in hundreds of millions of dollars at a time, and my sense is it's not like that." Three ETFs that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval. The SEC will decide by March 11 whether to approve one filed almost four years ago by investors Cameron and Tyler Winklevoss. If approved, it would be the first bitcoin ETF issued and regulated by a U.S. entity. (Reporting by Jemima Kelly, graphic by Nigl Stephenson) View comments || How to handle bitcoin gains on your taxes: When you file your taxes this year, your accountant might ask if you own any bitcoin. The popular digital currency recently hit an all-time high of $1,327 per coin, and while there arguably still hasnt been a killer app (a mainstream purpose for a layperson to use bitcoin), its main use right now is as a speculative investmentand it has been a good investment . And if youve bought something using bitcoin, or sold something for bitcoin, or traded bitcoin for fiat currency, you should consider making that clear on your taxes. This is the first year Ive asked about it, says Mark Stafford, a CPA in Maryland. I had one client try to be a miner last year and I realized it was possible that clients were involved and might not think to tell me. Believe it or not, the IRS posted official language on digital currency back in 2014; it considers bitcoin to be property . For federal tax purposes, the IRS says in no uncertain terms, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency. If youve bought bitcoin simply to hold it as a speculative investment, you dont need to disclose anything. But as with stocks, income from the sale of bitcoin would be taxed as capital gains, based on the value of bitcoin at the time you sold it. The same goes for if you receive bitcoin as payment, the IRS says: A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in US dollars. There were a number of ways the IRS could have classified bitcoin. It could have labeled it as currency, or a commodity, or a security or debt instrument, as corporate tax attorney Bob Derber has written at the web site of digital currency research group Coin Center . Bitcoin has qualities resembling all of these property forms, yet it does not neatly fit any of them, Derber wrote. Had the IRS treated bitcoin as a currency, special tax rules would have applied to its use and ownership. Story continues By labeling it property, a bitcoin-for-goods transaction is almost like bartering. If you sell your car for bitcoin, the IRS is saying, its property for property, rather than currency for property, which is treated differently. By not labeling it a currency, bitcoin does not generate a foreign currency gain or loss for tax purposes. Thats surprising, since so much bitcoin is purchased from international exchanges. On the other hand, you cant physically hold bitcoins, so as Derber puts it, W ere still not exactly sure how to define where the bitcoin exists. Labeling it as property may not be a fully adequate description of what bitcoin is and does, but for now, Derber tells Yahoo Finance, Its the best one can do. What it really comes down to is, Who knows what it is yet? Certainly the IRS doesnt. Cameron Arterton, a tax attorney in Washington who worked in the Treasury Departments tax policy office, helped work on the 2014 IRS notice on bitcoin. I dont think there was another way they could have done it at that point, she says, but that was 2014, and we havent seen anything else. I think taxpayers need more. The guidance they put out was a good start, but it left so many questions unanswered. Bitcoin is still a nascent technology, still misunderstood by many, and still something regulators are puzzling over. In fact, last year the IRS demanded user transaction records from Coinbase, the leading US bitcoin wallet provider, from 2013 to 2015. The investigation is ongoing, but so far it has yielded the fact that only 800 people, over those three years, filed a Form 8949 to disclose property related to bitcoin . Form 8949 is for reporting sales of capital assets. It has no language specific to bitcoin, but it follows that if bitcoin is property, thats the form youd use to disclose gains from receiving or selling it. Its a good idea to disclose every possible financial gain on your taxes. The fact that the IRS even has official language on bitcoin is a sign that it recognizes bitcoin has staying power. But the Coinbase summons, Arterton says, is less encouraging, because it shows the IRS is taking an enforcement route toward bitcoin. It suggests that theyre thinking of this like offshore bank accounts, where they dont really know whats going on but they think that theres tax evasion, she says. Of course, just because the IRS has guidelines doesnt mean people will comply. The irony of bitcoin guidelines for tax purposes is that the entire appeal of bitcoin, originally, was that it is anonymous and unregulated. Many of the earliest bitcoin believers were libertarians who want the currency to exist outside of government reach, untouched by regulators . No one really knows exactly how many people own bitcoin. There are 7 million unique addresses (or payment destinations) that own more than $1 in bitcoin , but many people have multiple addresses, so most estimates suggest that its only between 2 million and 4 million unique holders. When the SEC harshly rejected a proposal from the Winklevoss brothers for a bitcoin ETF , it did say that fewer than 1,000 people own more than 50% of all bitcoins. Clearly, the 800 people who disclosed bitcoin gains from 2013 to 2015 represent just a fraction of all bitcoin owners. That might make you think that even if you have had gains from bitcoin, you dont need to bother disclosing it on your taxes. And you might be rightunless the IRS decides to more actively pursue taxation of the cryptocurrency. The best course, says Derber, who is also a (non-active) CPA, is to disclose it. And if your personal tax professional didnt ask this year, they will likely start asking soon enough. Daniel Roberts is a writer at Yahoo Finance, covering fintech and digital currency. Follow him on Twitter at @readDanwrite . Read more: Bitcoin crashes after SEC rejects Winklevoss ETF Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Why 21.co is the most exciting bitcoin company right now || Digital Currencies Went Crazy in the Wake of the SECs Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed a harsh judgment last week on bitcoin, many expected the entire asset class to crumble. Instead, the opposite has happened. The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water on hopes institutional investors would use the ETF to stock up on the currency. The market quickly punished bitcoin , driving its price down to around $1,050--a more than 15% drop from its highs earlier that day. But when it came to other digital currencies, investors didnt bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) arent as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, theyve all shot up, some of them dramatically. Here is a chart that shows how the prices have changed. The data is compiled from each currencys lowest price on March 10 (the day of the ruling) through Tuesday morning: As you can see, Ethereum has made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%. Get Data Sheet , Fortune's technology newsletter The other surprise in chart is how nicely bitcoin has recovered from the SECs punch last Friday. Heres a closer look, courtesy of Coindesk , of how its price has moved since Friday: As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring. For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called alt-currencies like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news. Story continues Its also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoins share of the pie has dropped about 10% since the news: The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans. See original article on Fortune.com More from Fortune.com Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected Here's Why Disney's Shares Are a Buy Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge Verizon Wanted a Much Bigger Discount on Its Yahoo Bid Here's Why National Napping Day Is Actually a Serious Matter || SEC Rejects Winklevoss Bitcoin ETF: It’s official. The Securities and Exchange Commission did not approve the Winklevoss Bitcoin ETF (COIN).
After sitting in the regulatory pipeline for more than three years, it’s back to the drawing board with the idea of putting the peer-to-peer digital currency in an ETF wrapper.
"We remain optimistic and committed to bringing COIN to market, and look forward to continuing to work with the SEC staff. We began this journey almost four years ago, and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors," said Tyler Winklevoss, CFO, Digital Asset Services.
Going into this much-awaited decision, bitcoin prices had raced to a new record high above $1,300 in anticipation of a SEC “yes” to this fund. But following the news, bitcoin tanked to below $1,000, bleeding more than 18%.
The rejection hinged on the commission’s belief that the proposed fund and its listing on an exchange required more safeguards and more regulatory oversight. Bitcoin is traded on unregulated markets, which prevents the SEC from entering into “surveillance sharing” agreements that, among other things, help stomp out market manipulation, said Spencer Bogart, managing director and head of research at Blockchain Capital.
Prospects Grow Dimmer
The implication here, he says, is that because the disapproval centered on the bitcoin market structure itself—and not on any specific detail of the ETF design—prospects for other bitcoin ETFs to come to market just grew dimmer.
“The decision isn't that surprising,” Dave Nadig, CEO of ETF.com, added. “Ultimately this is less about what bitcoin is or isn't, and is about the underlying market structure for bitcoin itself. If the SEC doesn't know where the buck stops on a security, it's hard for them to get behind it. Honestly, the whole point of bitcoin is the buck never stops. It's unregulated by design.”
This was a big deal. The Winklevoss Bitcoin Trust would have been the first ETF to offer investors everywhere easy, transparent access to this peer-to-peer, unregulated digital currency that has gathered quite a following since the financial crisis of 2008. That access would have been made possible to anyone without the need to create separate accounts with bitcoin exchanges.
Bogart said adoption and use of bitcoins and its network have already been growing rapidly without the help of the ETF wrapper. Still, a bitcoin ETF would accelerate the already-fast-growing footprint of bitcoins.
Why A Bitcoin ETF Matters
“A bitcoin ETF would be a significant catalyst for a few reasons,” Bogart said. “For one, it would open the gates of bitcoin to institutional capital. Among other things, this could have a profound impact on price.”
Most institutional investors have mandates that allow them to only invest in registered securities, and bitcoin isn’t one, he says. But in an ETF, it would fit that bill. If nothing else, having a bitcoin ETF approved would improve “public perception” and help manage some of the regulatory risk many associate with bitcoin’s unregulated status.
“In addition, retail investors would be able to get exposure to bitcoin directly from their brokerage accounts instead of establishing a separate account with a bitcoin exchange,” Bogart added. “The way to think about ETF approval is as a low-probability catalyst that could accelerate bitcoin’s already-rapid adoption growth.”
About COIN
COIN, led by Cameron and Tyler Winklevoss of Facebook fame, was first put in registration more than three years ago.
Designed as a grantor trust, COIN would do in-kind creations and redemptions much like a physical commodity ETF such as theSPDR Gold Trust (GLD), and the fund would use the Winklevoss’ own bitcoin exchange Gemini to set the price.
That comparison to gold has been often touted. In an interview two years ago, the Winklevoss brothers told an audience of advisors thatbitcoins are “better than gold”as a store of value, inflation hedging and access to a still-growing global ecosystem that’s the future of the payments industry.
That’s because the Winklevoss brothers see bitcoin as a commodity more than as a currency. “An investment in the bitcoin ETF is an investment in the future performance of bitcoin and the underlying bitcoin protocol, not an investment in a bitcoin company,” they said in aninterviewin 2014.
Bitcoin All About Global Commerce
Mike Venuto, head of Toroso Investments, argues that, to investors, the bigger picture is that bitcoin is all about global commerce.
In arecent blog, he offered this perspective:
In a recent white paper, Deloitte & Touche described bitcoin as an “Internet of value exchange.” The real value of bitcoin is about the utilization of the infrastructure on which it is based. The more bitcoins are mined, or “hashed,” the more a free encrypted version of the internet is expanded. This self-reinforcing infrastructure that becomes more dependable as more people participate, is called the “blockchain.” It can be used in a way to transfer securities, to create artificial intelligence, secure real estate or art transactions and, potentially, for all kinds of other transactions. Look at bitcoin this way: 20 years ago, the internet democratized access to information, and now the bitcoin blockchain is democratizing access to commerce.
For now, access to bitcoin in an ETF can be found in theARK Web x.0 ETF (ARKW), which has a small allocation to bitcoins obtained through publicly traded shares of Grayscale’s Bitcoin Investment Trust(OTCQX: GBTC). That allocation currently sits around 5% of that portfolio.
But the launch of a strategy such as COIN would be “consequential,” Venuto says.
“In an age where asset allocation is its own asset class, a bitcoin ETF could have a place in many portfolios,” he said. “You can purchase bitcoins today. So, putting bitcoins into an ETF structure is not about making them accessible in a basic sense. It's about making bitcoins more accessible—that is, investable for any investor within a brokerage account.”
Contact Cinthia Murphy [email protected]
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Permalink| © Copyright 2017ETF.com.All rights reserved || Tax Day 2017: Poem for When Taxes Are Due and It's the Last Day to File: It’s the day before Tax Day: Have you filed your taxes yet? If not, you’re not alone. The Internal Revenue Service says there were as many as40 million people who had yet to filetheir tax returns late last week, just before April 15 (which fell on a Saturday this year). Waiting until the last minute, of course, is practically an American pastime: as many as 25% of taxpayers file in the last two weeks before the deadline, according to the IRS.
But U.S. filers areespecially late this year, which means that procrastinators will have their work cut out for them this week: The tax deadline for 2017 is tomorrow, April 18, at midnight (Eastern time). With those of you in mind, we thought we’d ease your pain by creating a lighthearted diversion: A true story about Tax Day 2017-set to rhyme.
From the problems plaguing the people who collect your taxes, to the hopes of at least some in Donald Trump’s administration-namely, Treasury Secretary Steven Mnuchin-to make Tax Day better (not only with tax cuts but with other reforms), this poem has everything you need to know, whether you’re settling your tab with the government or expecting an ample refund. Please enjoy, even if you don’t enjoy paying Uncle Sam.
Twas right before Tax DayWhen the word got aroundChanges were comingAnew boss was in town.
Secretary of the Treasury,Mnuchin was his name;He would oversee the IRS,FromGoldman Sachshe came.
But on Wall Street they knew littleOf the troubles the taxmen hadFor all its fearsome powerCould theIRS really be this bad?
Itsproblems were increasing;They were under attack;Not just from politicians,But also fromhack after hack.
“I was surprised,”Mnuchin cried,“30 percent staff cuts in such a short time!Why can’t doing our taxes beJustas easy as going shopping online?”
To make matters worsePeople were late to payHoping that TrumpWould make their taxes go away.
Ignorant as he wasOf why it’s still so hard to file,Mnuchin hoped that CongressWould help on both sides of the aisle.
Politicians laughed at the banker;And as the taxmen processed the news,“We thought you wanted to abolish us!”They said, “Haven’tyou heard of Ted Cruz?”
But the Secretary had a visionAs he surveyed his new domainAnd he pledged to pursue a new mission:To make the IRS Great Again!
But as Tax Day got closerSome hurdles came to ariseWhen Trump unfurled his budgetThere was another surprise.
Mnuchin did not get his wishFor enough money to hire,Theproposal was just more cuts;The funding was even more dire.
“No matter,” said MnuchinAs the IRS begged for deliverance,As cheap e-filing increases,“It’ll surely make up for the difference!”
By then the Secretary was on boardWith the President’s ambitious planNone of it would even matterTil tax reform was law of the land.
For filers, there was one small reprieve:Amid the tax prep rush, aholidayfell betweenMeaning this year’s taxes are not dueOn their usual deadline of April the 15.
“Take the weekend,” IRS said:“Tax Day’s the 18th; that’s a Tuesday.If you needed an extension,Forget about it, you’re excused, k?”
But a different deadline was loomingIn the mind of Steven Mnuchin;His boss wanted tax cuts by August;So far there wasonly confusion.
“I’m going to cut taxes big league,”Was the promise Donald Trump made:“Those companies who moved to Europe?How they will all wish they had stayed!”
“We’ll slash rates for corporations,For individuals, we’ll whack it,Americans’ tax’ll be so low,Youwon’t even have the same bracket.”
The price of making it happen, though?It may be theBorder Adjustment Tax.Meanwhile, Americans dreamed of refunds,The size of bonuses at Goldman Sachs.
Thatcould take a while, Mnuchin knew,And Trump, after all, kept changing the deal;One minute he wanted tax reform,Now he wants Obamacare repeal?
Plus, it had also become harderTo convince some people it was fairThat they had to file their tax returnsWhen the President’s wereGod know’s where.
Many people hadn’t paid what they owed;It became clear there were far too few:Bitcoin investors who disclosed profitsNumbereda mere eight-hundred-and-two.
Mnuchin had to find the answerThe U.S. can’t afford to lose this bet;To pay for Trump’s infrastructure planThe country needs every cent it can get.
Maybe we would collect more money,The Treasury Secretary mused,If filing were a bit easier,The tax laws wouldn’t be so abused!
Finally, the key to fixing the state;Mnuchin may have discovered the clue:If you want to make America great,We’ll also need a better Tax Day too.
For moreFortunepoetry, seethe week’s news review in haiku.
This article was originally published on FORTUNE.com || Bitcoin plunges sharply and suddenly: (A bitcoin sign seen in a window in Toronto.Reuters/Mark Blinch)
Bitcoinplunged by more than $100 in a matter of minutes on Tuesday morning. The cryptocurrency was down about 1.5% at $1,260 a coin just after 6 a.m. ET before tumbling below $1,160 within 30 minutes. As of 1:22 p.m. ET it was down 2.1%, or $27, near $1,249 a coin.
While no headlines can be directly tied to the plunge, about two hours earlier a Bloomberg headline cited a People's Bank of China official as suggesting the recent bitcoin regulation wasn't temporary.
The PBOC recently announced it was cracking down on bitcoin trading, and China's largest bitcoin exchanges have since introduced aflat 0.2% fee on each transactionand announced ablockage of withdrawals.
Tuesday's sell-off could also be tied to nervousness over a coming Securities and Exchange Commission ruling. The SEC is expected to issue a ruling on whether it will approve at least one of thethree proposed bitcoin-focused exchange-traded fundsby a Saturday deadline.
The price of bitcoin has rallied 27% in 2017 after gaining 120% in 2016. Bitcoin has been thetop-performing currencyin each of the past two years.
(Investing.com)
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• Bitcoin is extending its lead over gold
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[Random Sample of Social Media Buzz (last 60 days)]
1 #BTC (#Bitcoin) quotes:
$1069.00/$1069.95 #Bitstamp
$1075.00/$1076.75 #BTCe
⇢$5.05/$7.75
$1076.07/$1086.91 #Coinbase
⇢$6.12/$17.91 || #Bitcoin -0.09%
Ultima: R$ 3329.95 Alta: R$ 3769.00 Baixa: R$ 3294.99
Fonte: Foxbit || #Bitcoin -0.00%
Ultima: R$ 3964.99 Alta: R$ 3983.00 Baixa: R$ 3880.00
Fonte: Foxbit || $1221.76 at 17:30 UTC [24h Range: $1195.00 - $1229.00 Volume: 4046 BTC] || $1158.00 at 10:45 UTC [24h Range: $1122.17 - $1159.00 Volume: 9146 BTC] || $1056.60 #bitfinex;
$1032.30 #btce;
$1058.94 #GDAX;
$1052.17 #bitstamp;
$1055.00 #gemini;
Bitcoin Mining: http://bitly.com/2kmoC9o || $1236.93 at 04:15 UTC [24h Range: $1215.43 - $1250.00 Volume: 5735 BTC] || One Bitcoin now worth $1216.68@bitstamp. High $1227.00. Low $1208.00. Market Cap $19.794 Billion #bitcoin || Traders Raise Concern as Biggest Bitcoin Exchange Halts Deposits http://bit.ly/2onJVod via @CoinDesk #bitcoin #blockchain || [SALE] http://ebay.to/2jZuv7U $250.00 Butterfly Labs ASIC Bitcoin miner 50GHS (used) with power su #promotionpic.twitter.com/M5koff2t0C
|
Trend: up || Prices: 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-08-07]
BTC Price: 279.58, BTC RSI: 49.06
Gold Price: 1094.10, Gold RSI: 35.52
Oil Price: 43.87, Oil RSI: 22.93
[Random Sample of News (last 60 days)]
The weird Florida connection in a massive bank data breach that impacted 76 million households: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. JPMorgan Chase & Co will pay $920 million in penalties in two countries to settle some of its potential liabilities from its (Thomson Reuters) JP Morgan Chase Four arrests made on Tuesday in two separate cases—one involving penny stocks and the other an underground Bitcoin exchange—might tie back to last year's massive cyberattack against JPMorgan Chase, Bloomberg News reports . Two people were arrested in Israel and the other two were arrested in Florida. One person is still at large. The JPMorgan cyberattack is not mentioned in any of the indictments. What's striking about these two separate cases is that they can be connected by a friendship that goes back a decade to Florida State University, Bloomberg News pointed out. Anthony Murgio, 31, was arrested in Florida and charged with running an unlicensed Bitcoin exchange. He was also charged with one count of money laundering. Joshua S. Aaron, a 31-year-old American citizen who resides in Tel Aviv and Moscow, faces multiple charges related to an alleged penny stock scheme. Aaron is the one who remains at large. On what appears to be Murgio's personal website, he mentions his friend Aaron, who he said " showed me the ropes to online marketing." Murgio and Aaron were both mentioned in an FBI memo from October 2014 regarding the JPMorgan hack, the Bloomberg report said. Bloomberg News noted that it was asked not to report about the memo earlier this year because it might impact the FBI's investigation. The JPMorgan breach Last year, JPMorgan said that 76 million households and 7 million small businesses may have had their data compromised in a cyberattack. At the time, the bank said that that the hackers had access to customer names, addresses, phone numbers, and email addresses. No customer money was lost. The bank also said there was no indication that account numbers, passwords, user IDs, dates of birth or Social Security numbers were compromised. That attack was so massive though that it was even believed that the Russian government may have been behind it. Millions of penny stock emails penny stock fraud (US DOJ) These are the charges the trio faces. Story continues The US Attorney's Office in New York charged Gery Shalon, Joshua Samuel Aaron, and Zvi Orenstein for their roles in an alleged multi-million dollar penny stock pump-and-dump that goes back to 2011. Shalon, 31, and Orenstein, 41, were arrested in Israel by the Israel Police. Aaron hasn't been arrested . Bloomberg pointed out that his wife shared photos on Instagram of them in St. Petersburg, Russia just a couple of days ago. We've also sent an email to Aaron seeking comment. The Securities and Exchange Commission has also filed civil charges against the trio. Shalon, who used the aliases "Phillipe Mousset" and "Christopher Engeham," and Aaron, who went by "Mike Shields," allegedly wrote emails that Shalon allegedly disseminated through "their possession of vast email lists," the SEC said. Orenstein, who went by "Aviv Stein" and"John Avery", is accused of handling brokerage accounts using the aliases. Authorities said that they sent spam emails to millions of people daily that contained "materially false" and "fraudulent" statements about the microcap companies based in Florida, Virginia, South Carolina, and California. They also allegedly used about 20 promotional sites to tout these stocks. "These promotional campaigns frequently urged people to buy shares of the promoted issuers without properly disclosing that the promoters themselves owned shares of these issuers and, contrary to their exhortations to readers of their emails to buy shares, intended to sell those shares immediately," the SEC alleged in its complaint. The Florida arrests The US Attorney's Office in New York also arrested and charged Florida residents Anthony Murgio, 31, and Yuri Lebedev, 37, for allegedly running an unlicensed Bitcoin exchange that " exchanged at least $1.8 million for Bitcoins on behalf of tens of thousands of customers." Murgio and Lebedev are accused of "knowingly operated Coin.mx, a Bitcoin exchange service, in violation of federal anti-money laundering (“AML”) laws and regulations," the US Attorney's Office in New York said. Murgio and his co-conspirators are also accused of having "knowingly exchanged cash for Bitcoins for victims of 'ransomware' attacks, that is, cyberattacks in which criminals (here, distributors of the ransomware known as 'Cryptowall') electronically block access to a victim’s computer system until a sum of 'ransom' money, typically in Bitcoins, is paid to them." The US Attorney's Office alleged that the pair hid the illegal exchange under the guise that they were operating a business called the "Collectables Club," a members-only group for people to buy and sell collectibles like sports memorabilia. Public records show a number of fictitious businesses registered to Murgio, including the "Collectables Club." The records also show that in 2013 he was hit with felony charges for allegedly not paying $110,000 in sales taxes for a a restaurant he owned . NOW WATCH: People doing backflips on a two-inch wide strap is a real sport called slacklining More From Business Insider Ex-JPMorgan star Blythe Masters is going to work for one of the biggest US auto lenders Carl Icahn told Larry Fink that Blackrock is 'dangerous' to his face Watching Ted Cruz talk to a room full of Wall Streeters is about as awkward as expected || Fed Stuck In The Middle Of Marijuana Debate: One of the major issues plaguing the United States' newly developing marijuana industry has been banking. Although President Barack Obama has granted states the right to determine their own marijuana laws, the substance is still classed as illegal in the federal government's eyes. For that reason, banks bound by federal law have been unable to engage with marijuana firms even in states where the drug is legal. Fed Lawsuit Last week, Colorado's Fourth Corner Credit Union sued the Kansas City Fed after its application for federal insurance was rejected. The credit union was denied a routing number in order to set up its master account, meaning that Fourth Corner would be unable to operate. The firm said the Fed's decision to reject Fourth Corner is an unreasonable restraint of trade and commerce and that the credit union's receipt of a state charter should have given it access to federal insurance. Fed Pushes Back The Fed has argued that it has the right to use its own discretion when it comes to opening new master accounts. The bank claims it was unable to accurately asses the risks associated with Fourth Corner's business and therefore is allowed to reject the application. Conflicting Laws The legal battle underscored the pitfalls of conflicting laws at the federal and state level. While legalization efforts have been successful in many states across the US, the banking issue will likely continue to plague the industry as long as federal law continues to class marijuana as illegal. See more from Benzinga Australian Government Takes Steps Toward Becoming A Bitcoin-Friendly Nation Tech Firms Gear Up For 2016 Presidential Race Are Tethered Drones The Answer To Safety Concerns? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Online Casino 4Grinz.com Celebrates Global Grand Opening With Super Launch Giveaway: SAN JOSE, COSTA RICA--(Marketwired - June 30, 2015) -Today's players are looking for the most immersive online casino games that are interactive, sophisticated, and very polished. They want the fun of playing for free with the option of gambling and games should be optimized for tablets and smartphones.4Grinz.comachieves this and more, offering hundreds of state-of-the-art games with 3d cinematic visuals and provocative audio.
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Image Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Superlaunch-1411332149755.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/AboutUs-1427420557171.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Screen_Shot_2015-06-27_at_21.48.06-476512181192.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/PlayOnTheGo-446146912309.jpgImage Available:http://www.marketwire.com/library/MwGo/2015/6/29/11G046214/Images/Screen_Shot_2015-06-27_at_22.38.37-1187105050718.jpgEmbedded Video Available:https://youtu.be/RQMUfo47g_s || Bitcoin May Not Go Mainstream, But Blockchain Will: The challenges associated with using a cryptocurrency have kept much of the public from rushing to adopt bitcoin. Issues related to trust and security have plagued the digital currency after several widely publicized scams painted bitcoin as a tool for criminal activity.
However, while the general population has been slow to adopt digital currencies themselves, blockchain, the system bitcoin runs on, could have a place in everyday life.
Blockchain In Banks
Banks have been receptive to the possibility that blockchain could vastly improve their outdated systems.UBS(OTC: OUBSF) has already jumped on board the concept by setting up a research lab in London that focuses on how blockchain can be used in banking.
Related Link:"Dope" Becomes The First Movie To Allow Bitcoin Ticket Sales
Now,Banco Santander, S.A. (ADR)(NYSE:SAN) is similarly exploring how blockchain could revamp its business with a research team called Crypto 2.0. The Spanish bank believes there is potential for using blockchain to do things like facilitate international payments and develop smart contracts.
Regulation Will Weigh Down Progress
Head of Santander's fintech investment fund InnoVentures, Mariano Belinky toldBusiness Insiderthat the bank could develop a working prototype system that would facilitate real-time international payments in a matter of months, but that it would likely take much longer to pass such a system through the financial sector's strict regulations. The bank says it would also need to partner with a few like-minded banks across the globe in order to make the new system viable, but has already been in talks with several other institutions about the possibility.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Best And Worst ETFs Of The Week Amid Independence Day Celebration: The holiday shortened week came to a close on light volume and unenthusiastic price action. Sellers managed to push theSPDR S&P 500 ETF Trust(NYSE:SPY) over 1 percent lower this week, as Greek default worries led to marked declines in broad-based exchange-traded funds. Nevertheless, hope remains that this embattled nation will come to a truce with its creditors to restore fiscal order in the European continent.
The end of the quarter and mid-point of 2015 served as a reminder that very little progress has been made so far this year. TheSPDR Dow Jones Industrial Average ETF(NYSE:DIA) is trading near the flat line, while theiShares Russell 2000 Index (ETF)(NYSE:IWM) notched the strongest gain of all the major indices with a total year-to-date return of 4.68 percent through June 30.
Related Link:Bitcoin: The Best Currency For Greece And Other Debt-Ridden Countries?
The following ETFs represent a sample of the best- and worst-performing funds over the last five trading sessions.
BEST: Volatility Futures
On Monday, SPY experienced its largest single day decline of 2015 with a drop of more than 2 percent. This sent volatility futures flying higher as traders scrambled to hedge their positions with options. TheiPath S&P 500 VIX Short Term Futures TM ETN(NYSE:VXX) gained 15 percent this week after recent falling near its lows of the year.
This exchange-traded note is the largest dedicated VIX futures fund, with over $1 billion in total assets. VXX is designed to capitalize on swings in investor fear. Heightened selling and uncertainty in the market generally leads to a spike in the CBOE VIX Volatility Index.
WORST: Greek Stocks
The catalyst for a jump in VXX was spurred by headlines that Greece would be unable to meet an IMF debt repayment deadline and hadclosed the Athens Stock Exchange. This news led to a steep weekly decline of 10 percent in the Global X FTSE Greece 20 ETF (Global X Funds(NYSE:GREK)).
GREK tracks the 20 largest stocks on the Athens Stock Exchange, and prior to this announcement, had been taking in atremendous waveof new assets, as global investors bet on a turn around. While GREK did manage to claw back some of its hefty losses this week, the fund remains a question mark for investors until the Greek stock market reopens and prices can adjust accordingly.
Image Credit:Public Domain
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Costas Inc. Is Pleased to Present Its Position on the Financial Technology Space: NEW YORK, NY--(Marketwired - Jul 6, 2015) - Costas Inc. (OTC PINK:CSSI) Costas Inc. (CSSI) or "Costas" has focused over the last year and invested heavily in Distributed Asset Technology; "DAT" is the systemic foundation to what is now known as Digital Currency "DC". DC has taken the world by storm and created a new class of asset. Quite simply, the world economy has evolved from gold and silver as the only accepted form of payment to paper currency and now DC has started to weave itself into the fabric of our global economy.
The public generally associates DC with the market's preferred digital coin, Bitcoin. Bitcoin and its peers, have fascinating properties that Costas strongly believes will accelerate the speed at which a store of value can move regionally and/or globally. Decentralized currency without borders is now a viable option for consumers. DC and the institutions that bridge the gap between merchants, consumers and investors stand to capitalize exponentially as investment floods into the space.
There are very few opportunities in the realm of DC available to investors through public markets. Investment in the space, to most, is out of reach apart from purchasing DC coins. Costas intends to create a portfolio of diverse DC businesses under its umbrella. Costas will offer a unique opportunity to invest in a cross-section of companies in what The Company believes is the most exciting investment vehicle made available in decades.
Costas will acquire companies in full, or a take a significant position in a variety of companies, then facilitate their growth. Costas is also open to creating businesses by putting capable people together, giving them an equity stake and capitalizing them. In the event that there is no pre-existing company with whom to partner, Costas would create its own company to fill that investment vacuum. We are actively searching for strong innovative leaders with an entrepreneurial spirit to either join our board of directors or to offer their services to targets we are looking to acquire and thereby incentivizing them to partner with Costas.
Costas, through its relationships, has the ability to raise capital for the companies it chooses to acquire or create. The management at Costas has built relationships with investment groups that focus on funding, incubating and growing potential business ventures. This network spans the globe and truly has very few limits. We feel confident we can pair any opportunity with the appropriate funds and management, preparing them for their entry into any competitive market.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
About Costas Inc.
Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending. || 4 trades on airline and aerospace stocks: JetBlue Airways(NASDAQ:JBLU-News)stock could gain ground as the carrier attempts an overseas expansion, some CNBC "Fast Money" traders said.
The company on Monday said it is looking into extending its network to South America and other places abroad with a long-range plane from Airbus. JetBlue closed Tuesday barely higher.
While he was disappointed by the way it traded after the news, trader Guy Adami said he still likes JetBlue at its current price, below $20 per share. The stock has climbed more than 20 percent this year, and trader Steve Grasso agreed that he would stick with it, especially after a recent pullback in the wider airline sector.
Read MoreFor Boeing, Airbus, it's about profits
That broader weakness has brought Delta Air Lines(NYSE:DAL-News)to "interesting levels," said trader Tim Seymour. The stock has fallen more than 17 percent this year, and closed Tuesday around $40 per share.
Delta looks risky if it fails to hold above $40, he noted.
Boeing(NYSE:BA-News)looks the most appealing in the aerospace sector, trader Brian Kelly contended. The stock has climbed almost 10 percent this year.
Read MoreAirlines are getting better at being on time
Disclosures:
TIM SEYMOUR
Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO.
STEVE GRASSO
Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long AVP and TWTR. His kids own EFG, EFA, EWJ, IJR and SPY.
BRIAN KELLY
Brian Kelly is long DXGE, BTC=, BBRY and U.S. dollar. He is short Australian dollar, Canadian dollar, euro, yen and yuan.
GUY ADAMI
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
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• CNBC.com Earnings Central || Which Crisis Is Worse: Greece Or China?: It is an uncertain time for markets as turmoil in two of the world's largest markets, China and Europe, has rocked investors' confidence. Both regions share markets are suffering, although for two very different reasons. Greek Bailout In Tatters In Greece, bailout negotiations all but fell apart over the weekend after Greeks voted down the EU's latest funding proposal, giving Syriza-backed Prime Minister Alexis Tsipras more bargaining power. This week, EU leaders have been urging Tsipras to submit a new proposal that will meet their standards in hopes of striking an eleventh hour deal before the nation defaults on an upcoming European Central Bank loan repayment. The nation's financial system is teetering on collapse with capital controls restricting the movement of money keeping Greek banks together by a thread. Bailout Request On Wednesday, Greek officials requested a three year bailout from the region's emergency rescue fund in exchange for some of the structural reforms that Greece's creditors have been demanding. The offer has yet to be accepted by Greece's EU creditors, who have been demanding that the nation show a real commitment to reform. So far, Tsipras has been unwilling to budge on things like pension cuts and tax increases, which EU leaders say are necessary. China's Market Decline Chinese share markets have been on the decline since mid-June and the government's attempts to keep the market afloat have proven futile so far. On Wednesday, the Shanghai Composite Index finished 5.9 percent lower despite new emergency measures designed to stem the fall. Chinese regulators have made it illegal for those holding more than 5 percent of a company's shares to sell after buying up large numbers of small-cap stocks in an effort to slow the market's fall. A Crisis Of Confidence In both China and Greece, a question of confidence has been at the root of investors' concerns. However, many believe that the situation in China is much more dire. Story continues Traders are beginning to lose faith in the government's ability to stop the market's decline and some are beginning to talk of a bubble burst. Chinese markets have been rife with investor loans and many saw shares as overvalued, so some believe that the rapid decline has been a consequence of an overinflated market. See more from Benzinga Can The Fed Really Raise Rates Amid All This Chaos? When Luxury Goes Digital MovieTickets Sees Benefit In Adding Bitcoin © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || These 2 indie movies are going to give the summer blockbusters a run for their money: DOPE2 final (Open Road Films/"Dope") "Dope." You’ve seen “ Avengers: Age of Ultron, ” “ Mad Max: Fury Road, ” and “ Jurassic World. ” Though you concede they are all thrilling and visually stunning, you’re still searching for movies this summer with a little bit more … story. Thankfully there are two movies in theaters that can help feed that need. Alfonso Gomez-Rejon ’s “ Me and Earl and the Dying Girl ” and Rick Famuyiwa ’s “ Dope ” on the surface look like two very different movies, from where they're set to dialogue and characters. But they have a lot in common. me and earl and the dying girl1 (Fox Searchlight/"Me and Earl and the Dying Girl") "Me and Earl and the Dying Girl." Both films played at this year’s Sundance Film Festival and walked away with awards (for “Me and Earl” the prestigious Audience Award and Grand Jury prizes, and for “Dope” best editing), they both look at modern-day high-school life, and they have both been thrust in the middle of the summer blockbuster season (“Me and Earl” is in theaters; “Dope” opens Friday). Distributors Fox Searchlight (“Me and Earl”) and Open Road Films (“Dope”) are using the classic counter-programming maneuver in the hopes that audiences who aren’t into Hollywood blockbusters, or by mid-June are ready for something new, will give these indie darlings a try. This was a play Searchlight had success with when releasing the cult comedy “Napoleon Dynamite” in mid-June 2004. Building off the success of the film-festival circuit without a star or name director, the film had an impressive opening weekend take of $117,000 and went on to have a total domestic gross of over $44 million (the film’s budget was around $400,000). napoleon dynamite (Fox Searchlight) "Napoleon Dynamite." In its opening weekend “Me and Earl” took in similar numbers with over $196,000 . For this weekend, “Dope” is also getting creative in their purchase options, allowing tickets to be purchased via Bitcoin , making it the first time digital currency has ever been allowed for ticket sales. Story continues But strategic placement and gimmicks aside, the movies are strong enough to grab the attention of even the most dedicated Hollywood blockbuster moviegoer. In “Me and Earl and the Dying Girl,” we follow the senior year of outsider Greg (Thomas Mann). With a daily existence that includes staying friendly with all the different cliques at his Pittsburgh high school (but not committed to any) and making ultra-low-budget knocks-offs of classic films with his buddy Earl (RJ Cyler), Greg’s priorities change when he befriends Rachel (Olivia Cooke), a classmate who has recently been diagnosed with cancer. me and earl and the dying girl2 (Fox Searchlight/"Me and Earl and the Dying Girl") Thomas Mann and Olivia Cooke in "Me and Earl and the Dying Girl." The story has a been-there-done-that feel, but the style is a fresh one to the high-school dramedy genre with its creative use of stop-motion animation and high IQ in movie geekdom. “Dope” is set in the Inglewood neighborhood (known to those who live there as “The Bottoms”) of Los Angeles and follows another geek, Malcolm (Shameik Moore), and his two friends Jib (Tony Revolori) and Diggy (Kiersey Clemons). Unlike Greg and Earl, who have zero aspirations, Malcolm and his crew have high hopes for the future. Keeping away from the gang culture of South Los Angeles and completely obsessed with ’90s hip-hop, their main goal is to leave the 'hood and get into college, especially Malcolm, who has aspirations to attend Harvard. Dope1 final (Open Road Films/"Dope") Shameik Moore in "Dope." But things get complicated when Malcolm goes to the party of the neighborhood drug dealer and unknowingly leaves with drugs. Malcolm and friends then embark on an adventure through LA to get rid of the goods. If you listened to hip-hop in the ’90s, you will likely love “Dope.” It’s filled with nostalgic tracks from A Tribe Called Quest, Nas, Public Enemy, Digital Underground, and Naughty By Nature, curated by executive producer Pharrell Williams. They are perfectly placed and elevate the enjoyment of the story that’s part “Ferris Bueller’s Day Off,” part “Friday.” What both films exemplify is that movies with strong stories (and without massive explosions) can survive in the summer months. Whether the hook is geek culture, or a killer soundtrack, once you’re watching, it’s the excellent crafting of these characters by Gomez-Rejon and Famuyiwa that keep you engrossed for the next few hours. This weekend, take a break from the CGI-fueled blockbusters and check out one of these films instead. And if you need more convincing, here are the trailers for both films. More From Business Insider 'Jurassic World' has a ton of hit and miss ideas — but it's a wild ride For the first time a movie will accept Bitcoin for ticket purchases 'Jurassic World' just surpassed 'Avengers' for the highest-grossing opening weekend ever || Trading Google earnings: 3 stocks to buy: Google(NASDAQ: GOOGL)shares spiked following a strong quarterly earnings report Thursday, and CNBC"Fast Money"traders jumped on the bandwagon with investors.
"I think the stock's got real runway here. I think it can turn and go a lot higher," said trader David Seaburg.
The Internet giant's stock surged more than 10 percent in extended trading as second-quarter profit of $6.99 per share topped analysts' expectations. Though revenue fell slightly short of expectations and crucial ad metrics were mixed, markets cheered signs of expense control and strong signs for the YouTube video platform.
"I thought it was undervalued before. This is not a crazy valuation here," said trader Karen Finerman, who owns Google stock.
Read MoreGoogle shares jump as profits handily beat expectations
Google seems primed to move higher, and investors should hold it with $600 per share as a floor, said trader Guy Adami. It closed the regular session above $601 before the after-hours spike.
Trader Brian Kelly added that he saw positive signs in financial discipline and YouTube, but he would wait for a pullback to buy Google shares.
A post-earnings spike in Netflix(NASDAQ: NFLX)shares, among other names, helped push the Nasdaq Composite(NASDAQ: .IXIC)to a record close Thursday. Looking forward in the technology sector, Kelly sees upside in Microsoft(NASDAQ: MSFT).
Read MoreOverseas growth is driving Netflix stock surge: Analyst
Adami also noted that Facebook(NASDAQ: FB)looks to be "breaking out." The stock has gone about 16 percent higher this year.
Disclosures:
Brian Kelly
Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL and euro. He is short yuan and yen. Today he bought ITB.
Karen Finerman
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
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[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 18482.00 INR Sell : 17912.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 215.5€ $BTCEUR $btc #bitcoin 2015-06-26 16:00:03 CEST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000005
Average $1.5E-5 per #reddcoin
17:00:01 || Bitcoin traded at $231.72 USD on BTC-e at 10:00 AM Pacific Time || buysellbitco.in #bitcoin price in INR, Buy : 18754.00 INR Sell : 18144.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16142.00 INR Sell : 15640.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $1,723.31 #bitcoin #btc || ★MONA/JPY
0~25【もなっくす】
17.2~17.3【Zaif】
★MONA/BTC
0.00047~0.00049【AllCoin】
0.00049~0.00051【もなとれ】
0.00048~0.00049【bittrex】
00:30現在 || buysellbitco.in #bitcoin price in INR, Buy : 17858.00 INR Sell : 17302.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000006
Average $1.3E-5 per #reddcoin
00:30:02
|
Trend: down || Prices: 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Are People Paying with Crypto Really Trying to ‘Stick It to the Man’?: Paying in crypto is supposed to lower the fees people pay when they purchase things by cutting out the middlemen like banks, credit card firms and other payments processors. Along with privacy, that was the point of Bitcoin, described as a “purely peer-to-peer version of electronic cash” that allows payments “without going through financial institutions,” according to its pseudonymous creator, Satoshi Nakamoto. See more: Who Is Bitcoin Creator ‘Satoshi Nakamoto,’ and Why Does He Still Matter? But that leaves a very basic question: Who benefits the most from crypto payments? There’s a strong argument that it’s the merchant accepting it much more than the crypto owner buying with it. No debit card and credit card processing fees, no extra costs when rewards cards are used, no trying to convince consumers to hit debit instead of credit, no trying to get customers to accept surcharges — all that crypto payments have, if accepted directly, is the blockchain transaction fee. Which is paid by the sender not the recipient of a cryptocurrency transaction. See here: The Data Point: 44% of Consumers Say They Would Switch Merchants Over Card Surcharges Even when run through a crypto-only payments processor that takes the digital assets from the consumer and pays the merchant in fiat currency, the cost of accepting cryptocurrency is generally lower and comes without the need to take the volatility and security risks that come with using your own digital wallet. Read also: Crypto Basics Series: What’s a Crypto Wallet and How You Can Avoid Losing a Quarter Billion Dollars? Then there are chargebacks. Or rather the lack of them. Cryptocurrency payments are, by their nature, irreversible. The only way to get a crypto payment back is to have the recipient initiate a second transaction. With crypto payments, customers can ask for refunds, but they can’t demand chargebacks — an argument merchants considering accepting crypto tend to be very interested in. Story continues Which is to say, the card system today subsidizes the cardholder heavily at the expense of merchants. And in many ways, accepting crypto at checkout can reduce or eliminate those subsidies with relying on legislation, like the bipartisan bill introduced by senators Dick Durbin (D-Illinois) and Roger Marshall (R-Kansas) on July 28 that would give merchants the ability to process Visa and Mastercard over different networks. Read more: Sen. Durbin Wants Another Bite at Card Interchange Fees The Hard Core While the tumbling price of cryptocurrencies — Bitcoin has been down 65% to 70% since its November all-time high — has probably diminished crypto owners’ willingness to spend something at $22,000 when they bought it at $44,000. But people are still very much interested in spending a growing number of cryptocurrencies, including ether, stablecoins like USDC, and even dogecoin, Stephen Pair, president of crypto payments technology firm BitPay, told PYMNTS’ Karen Webster in May. Read also: More Consumers Buying Crypto and Want More Ways to Spend It That said, it is worth looking at who the crypto spender is. PYMNTS’ April study, “ The U.S. Crypto Consumer: Cryptocurrency Use In Online and In-Store Purchases ” found that 23% of Americans have or had owned crypto in the 12 months preceding it — almost 60 million, up from about 41.5 million the year before. See also: PYMNTS Data Show Jump in Crypto Ownership, Willingness to Spend It More than a quarter of high-income consumers said they are “very” or “extremely” likely to switch merchants in favor of one accepting cryptocurrency. One increasingly common way of spending crypto is with Visa- or Mastercard- branded crypto debit cards, many issued through exchanges and connected to clients’ digital wallets, that let users spend crypto at the point of sale without the merchant even knowing about it, as all they see is a debit card paying them cash. What comes across very clearly is that crypto spenders are the hardcore crypto users — the people who see bitcoin and other digital assets not as investments but as the future of payments — the next generation of currency. That makes the target crypto customer someone focused as much on the ideology of crypto — the back half of the first line in Nakamoto’s Bitcoin Whitepaper about peer-to-peer electronic payments, which reads, “without going through a financial institution.” And for that privilege of breaking free from financial institutions, they’re willing to give up a great many advantages that cards today provide them with. For all PYMNTS Crypto coverage, subscribe to the daily Crypto Newsletter . || Bitcoin miner Stronghold to return mining rigs to cut debt; shares plunge as losses widen: Shares of Bitcoin miner Stronghold Digital Mining Inc. plunged more than 25% in U.S. trading on Wednesday after the company said losses in the second quarter widened from a year earlier despite a restructuring plan that included the return of about 26,200 Bitcoin mining machines to slash debt in half. See related article: Bitcoin miner Hut 8 shares gain on revenue, outlook despite Q2 profit slump Fast facts The Nasdaq-listed mining firms net loss widened to US$40.2 million in the second quarter of this year, compared to a US$3.2 million loss a year earlier, Strongholds latest earnings report showed. Stronghold Tuesday said it has reached agreements with New York Digital Investment Group and another lender to return Bitcoin mining rigs to reduce US$67.4 million in debt, in a move the company expects to significantly improve the financial condition of Stronghold and position it for increased financial flexibility going forward. The company also received a commitment letter from WhiteHawk Finance LLC to restructure and expand its current equipment financing agreements to add up to US$20 million in borrowing capacity. With these agreements and another convertible note restructuring in its plan, Stronghold is seeking to slash its outstanding dues by US$79 million, or about 55% of total principal outstanding as of June 30, the company said. Stronghold has been consistently toggling between selling power to the grid and mining Bitcoin, amid lower margins on the crypto and higher costs for power, the company said. Strongholds power generation capacity remains unchanged. [While] our Bitcoin mining fleet has been reduced in the short run, we have significantly more open exposure to strong power markets, which remain tight, Greg Beard, cochairman and chief executive officer of Stronghold, said in the statement. See related article: Chinese mining rig maker Canaan says global expansion on track despite crypto winter || US stocks surge as investors digest mega-cap tech earnings and prepare for another Fed rate hike: • US stocks jumped on Wednesday after Alphabet and Microsoft delivered second-quarter earnings that impressed investors.
• Mega-cap tech firms Amazon, Meta Platforms, and Apple are on deck for quarterly results later this week.
• The Fed is expected to hike interest rates by another 75 basis points at its meeting today.
US stocks jumped on Wednesday as investors navigate a busy week of mega-cap tech earnings and a highly anticipated Fed meeting.
MicrosoftandAlphabetreported earnings late Tuesday that showed resilience amid a highly uncertain macro period that includes worries of an imminent recession. Both stocks were up more than 3% in Wednesday trades.
While missing revenue and profit estimates, Microsoft offered strong guidance that included double-digit revenue and income growth for its upcoming fiscal year. "MSFT bullish guidance for FY23 will be heard around the world and Street. Rock of Gibraltar in an economic storm," Wedbush analyst Dan Ives said.
Alphabet's earnings also missed analysts' revenue and profit estimates, but the results showed that its digital ad business is "not falling off a cliff and relatively stable," Ives said, essentially calming fears sparked last week by Snap's warning on the digital advertising market.
Here's where US indexes stood shortly after 2:00 p.m. ET on Wednesday:
• S&P 500:3,975.25, up 1.38%
• Dow Jones Industrial Average:31,8762.10, up 0.35% (110.51 points)
• Nasdaq Composite:11,862.20, up 2.59%
Investors are now shifting their earnings focus towardsMeta Platforms,Amazon, andApple, all of which are expected to report results after the market close today (Meta) and on Thursday (Apple, Amazon).
Stocks held onto their gains after The Federal Reserve raised interest rates by another 75 basis points to a range of 2.25% to 2.50%. The decision was unanimous among Fed members highlighted their continued objective of taming inflation.
"The announcement of a 75-basis point hike would not surprise investors. Instead, the market's focus will be on searching for clues to the Fed's reaction function and how it may respond to upcoming data releases on inflation and economic activity," MSCI's head of portfolio management research Andy Sparks said.
Meanwhile, Russia's war against Ukraine continues to have an outsized impact on Europe, as it struggles with rising gas prices and shortages. On Wednesday,European power prices jumped to a record highas Russia slashed the supply of natural gas to the continent.
West Texas Intermediate crudeoil rose 0.32% to $95.01 per barrel.Brent crude, oil's international benchmark, edged up 0.28% to $104.69.
Bitcoin rallied 1.16% to $21,308. Ether prices rose 3.12% to $1,469.
Goldfell 0.12% to $1,715.50 per ounce. The yield on the 10-year Treasury fell three basis points to 2.78%.
Read the original article onBusiness Insider || Foundry Starts New Service to Reduce Supply-Chain Lag for Bitcoin Miners: Digital-asset mining and staking firm Foundry is starting a new supply-chain management service designed to make delivery of bitcoin-mining computers more efficient as the industry is gripped with logistical issues. Foundry is a subsidiary of Digital Currency Group (DCG), the parent company of CoinDesk. The new service, Foundry Logistics, is a dedicated supply-chain management service that is able to cut down total transit time for shipments significantly as well as add visibility to various expenses related to shipments, Foundry’s senior vice president of Infrastructure, MK Sathya, told CoinDesk. Such services will not just lower the transit time, but also make internal accounting much easier, Sathya added. Through Foundry Logistics, miners will also have access to end-to-end tracking that the buyers of Foundry do. “Through worldwide offices and a network of dedicated on-the-ground contacts for every order, Foundry Logistics ensures cost-effective and streamlined deliveries, providing clients with customs clearance, insurance guidance, ocean shipment solutions, national warehouse solutions and other domestic surface logistics,” the statement added. Read more: Crypto Mining and Staking Firm Foundry Starts Training Program for Miners In recent years, supply-chain issues have been plaguing industries across the globe, and bitcoin mining is no different. Due to the capital-intensive nature of the mining industry, miners can't afford to have delays in mining rigs, because they mean extra costs. “Transit time and efficiency are of great significance in the cryptocurrency-mining industry, where machines’ profitability is dependent on a wide variety of factors, such as bitcoin price and the network’s mining difficulty,” Foundry said in its statement. “This makes the timely delivery of ordered hardware critical to the operation of mining companies.” Bitcoin-mining computers often don't have a way to regularly track the progress of the ordered equipment in transit, making the process even less transparent and manageable, Foundry said. Last year, Foundry launched FoundryX, a new marketplace for buying and selling bitcoin-mining machines. Customers using this service will have access to the new supply-chain management system, which will be tailored to each client’s operational needs, according to the statement. Read more: Foundry Digital Joins Crypto Lobbying Group Blockchain Association || Ethereum Merge: What You Need to Know: Weve spent the past several weeks of this newsletter wading into deep technical and philosophical debates around future of Ethereum with topics ranging from maximal extractable value (MEV), to the threat of censorship on Ethereum, to what makes a true zero-knowledge Ethereum Virtual Machine, or zkEVM. But now, at long last, the Ethereum Merge is finally around the corner. This week, Id like to take a step back and quickly address a few of the myths and misconceptions that have popped up surrounding the Merge, Ethereums transition to proof-of-stake scheduled for around Sept. 15. Id also like to request input from the Valid Points Community. If you have any questions that are not answered in the FAQ no matter how technical please send them to [email protected] . This article originally appeared in Valid Points , CoinDesks weekly newsletter breaking down Ethereums evolution and its impact on crypto markets. Subscribe to get it in your inbox every Wednesday . What is the Merge? The Merge represents the Ethereum networks shift to proof-of-stake (PoS), its new system (also called a consensus mechanism) for authenticating crypto transactions. The new system will replace proof-of-work (PoW), the more power-hungry mechanism pioneered by Bitcoin. Why is it called the Merge? Ethereum already has a PoS network called the Beacon Chain (introduced in 2020), but it is not yet used for processing transactions. For now, its essentially just a staging area for computers operating the Ethereum network to prepare for the PoS upgrade. Ethereums full transition to PoS requires merging the Beacon Chain (called the Consensus layer) with Ethereums PoW mainnet (the Execution layer). How does proof-of-stake (PoS) differ from proof-of-work (PoW)? Proof-of-stake (PoS) and proof-of-work (PoW) differ in how they decide who has the right to record the next block of transactions on the network. In todays PoW system, Ethereum miners compete to publish blocks by racing to solve cryptographic puzzles, much like in Bitcoin. Story continues In the upcoming PoS system, validators that stake (lock up) at least 32 ether (~$50,000) with the network are randomly selected to create blocks. The more ether one stakes, the more likely one is to be selected. In both systems, the miner/validator that wins a block is rewarded with a mix of transaction fees and newly minted ether (ETH). PoS validators also receive rewards for doing other activities to help secure the network. Read more: Proof-of-Work vs. Proof-of-Stake: What Is the Difference? Will Ethereum fees decrease after the Merge? No. Ethereum transaction fees are not expected to change as a result of the Merge. Future network updates, like danksharding and proto-danksharding , may help to address Ethereum's high network fees, but these updates are not expected until 2023 at the earliest. The main salve for Ethereums transaction fee woes remains rollups third-party networks like Arbitrum and Optimism that bundle transactions and process them separately from Ethereums mainnet. Read more: Scaling Ethereum Beyond the Merge: Danksharding Will Ethereum transaction speeds increase after the Merge? Yes, but barely. On average, Ethereum blocks are issued once every 13 or 14 seconds in todays proof-of-work (PoW) system. After the merge, proof-of-stake (PoS) blocks will be issued in regular 12-second intervals. This is not an improvement that most users will notice, and it still places Ethereum behind rival blockchain networks like Solana and Avalanche (though well ahead of Bitcoin, where a new block is mined every 10 minutes on average ). Just like with transaction fees, those looking for improved transaction speeds will need to look to Ethereums third-party rollups . Read more: What Are Rollups? ZK Rollups and Optimistic Rollups Explained Will the Merge increase the price of ether (ETH)? Its hard to say. With so many variables and unknowns, it is impossible to predict what will happen to Ethereums token price as a result of the Merge. The Ethereum community has for years positioned the Merge as a massive upgrade to the networks core technology. Along with addressing concerns about the networks environmental impact, PoS will introduce a new form of utility for Ethereums native ether (ETH) token in the form of staking. But the Merge is not guaranteed to boost the ETH price. The Merge will also introduce changes to the rate at which ether is issued and how it is distributed. These changes could be positive or negative depending upon whom you ask. There is also a risk (however small) that the Merge will fail, or that PoS will prove less secure than PoW. There is also speculation the Merge has already been priced in by the market. Read more: Is Ethereum's Merge Priced-In? Is proof-of-stake better than proof-of-work? There are trade-offs. According to the Ethereum Foundation, the nonprofit that funds Ethereum ecosystem development, PoS will cut Ethereums energy usage by around 99.95%. PoS advocates also argue that PoW mining centralizes control in the hands of those who can afford to buy fancy crypto mining rigs, called ASICs. They say PoS which hands network control to those who stake crypto with the network makes attacks economically infeasible and self-defeating. PoW proponents counter that PoS staking carries its own centralization and security risks, making it possible for malicious actors to directly buy control of the network. They also point out that PoS is a less battle-tested system than PoW, which has proven resilient as the backbone of the two largest blockchain networks. When is the Merge happening? Around Sept. 15, 2022. Why no hard date? Each block on Ethereums PoW network carries a difficulty number representing how hard miners must work to add it to the network. Instead of kicking in at a specific date, the Merge is scheduled to take effect once the cumulative difficulty of all mined Ethereum blocks hits a certain number the total terminal difficulty (TTD). In August, Ethereums core developers set the TTD at 58,750,000,000,000,000,000,000, which will be reached sometime around Sept. 14 or 15. We only have an estimate because block difficulty and issuance rate vary over time. Can I become an Ethereum validator or staker? Yes, if you have some ETH. It is already possible to stake 32 ether and earn rewards for validating Ethereums PoS Beacon Chain. Staked ether will accrue network rewards, but it will be impossible to withdraw until an update expected around six to 12 months after the Merge. Staking requires some know-how; if you screw up or go offline, your stake can be slashed (ie, reduced). Those with less blockchain expertise can stake via centralized services like those offered by Coinbase (COIN) or Kraken. In addition to handling the technical nitty-gritty, these services in exchange for a cut of users rewards open up staking to those with less than 32 ETH. Also popular for those with less than 32 ETH are liquid staking pools like Lido and Rocket Pool. When users stake via these services, they are handed staked ETH tokens which trade at a slight discount to regular ETH. Read more: Top Questions on Ethereum Proof-of-Stake and Ether Staking What will happen to staked ether after the Merge? Staked ether will stay locked up with the network until around six to 12 months after the Merge. At that point, those who have staked ether themselves will be able to withdraw their stake, along with whatever rewards it has accrued. Those who stake via centralized staking services or pools will need to keep an eye out for announcements on how withdrawals will be handled. Will Ethereum users or ETH holders need to take any action after the Merge? No. If you hold ether (ETH) today, you wont need to claim new PoS ETH or ETH2 tokens. Your balance will remain exactly the same after the Merge, and youll be able to resume using the network as if nothing has changed. While Ethereum users will not need to take any action come the Merge, Ethereum software providers and node operators (the computers that operate the Ethereum network) will need to update their software to ensure they are communicating with the latest version of the network. Whats all this noise about PoW forks? Will I receive free money if I hold ETH? Some Ethereum miners, reluctant to let go of the networks old consensus mechanism, have announced plans to fork, or form a splinter network from Etheruems PoW chain. From what we can tell so far, these miners intend to just clone the main blockchain balances and all and continue operating their own PoW versions of Ethereum post-Merge. If you hold ETH before the Merge, you may automatically receive a balance of tokens on these new PoW forks. The process of claiming these tokens will differ depending on the chain. If you hold ETH on a centralized exchange like Coinbase, the exchange will need to list forked tokens in order for you to claim your share (and its not at all clear if they will). But buyers beware. Some forked ether tokens might have value immediately following the Merge, but leaders in the Ethereum community warn that PoW Ethereum forks will just be thinly-veiled cash grabs. Read more: Ethereum Proof-of-Work Forks: Gift or Grift? Can the Merge fail? Yes, but its unlikely. Ethereums transition from proof-of-work to proof-of-stake will mark the first experiment of its kind. If the Merge succeeds, it will represent a massive feat of engineering and human coordination. If it fails, it risks wiping out hundreds of billions of dollars in value (ethers market cap is close to $200 billion, and many other valuable tokens are built on top of the network). The Merge is only now moving forward because its core developers and other stakeholders have run through over a dozen successful tests and Merge simulations (see: shadow forks and testnet Merges ). Theres still a chance that the Merge might fail, but such an outcome seems extremely unlikely. Read more: Merge Testing on Ethereum: What Is It and Why Does It Matter? Will the Ethereum network pause as a result of the Merge? No. The Merge will happen instantaneously after the final PoW block is mined. From that point forward, the network will continue to operate with the issuance of the first PoS block. Ethereum users will not need to take any action to upgrade to the PoS chain. Whats on the Ethereum roadmap after the Merge? After the Merge, Ethereums core developers will continue working on the open-source network as they did before, with improvements to network fees, speeds and security slated for the months and years ahead. One focus for developers post-Merge will be sharding , which aims to expand Ethereums transaction throughput and decrease its fees by spreading network activity across several shards almost like lanes on a highway. (Updates of this sort were initially slated to accompany the Merge originally called Ethereum 2.0, or ETH2 but were deprioritized with the success of third-party rollups at addressing some of the same problems). Also on the roadmap is enshrined proposer builder separation (PBS), which will separate the builders that add transactions to blocks from the proposers who put them forward for approval from the wider network. PBS is pitched as a way to help tackle Ethereums maximal extractable value (MEV) problem . Read more: Ethereum After the Merge: What Comes Next? What happens to proof-of-work miners after the Merge? After the Merge, Ethereum miners many of whom have invested in fancy mining-optimized computers will be unable to mine new blocks on the network. Many miners will abandon mining and stake ether to earn rewards on the PoS network. For those who wish to put their mining hardware to continued use, theyll need to move to another proof-of-work network, like Ethereum Classic. After the Ethereum Merge, some miners also plan to create a forked version of the proof-of-work blockchain basically, a clone of the blockchain that still runs using the old miner-friendly system. It is unclear whether these chains will gain enough traction to become lucrative for miners in the long term. Pulse check The following is an overview of network activity on the Ethereum Beacon Chain over the past week. For more information about the metrics featured in this section, check out our 101 explainer on Eth 2.0 metrics . Network Health CoinDesk Validator Health Disclaimer: All profits made from CoinDesks Eth 2.0 staking venture will be donated to a charity of the companys choosing once transfers are enabled on the network. Validated takes Binance to stop supporting USDC. WHY IT MATTERS: Binance, the issuer of the third-biggest stablecoin and the worlds largest cryptocurrency exchange, both by volume, said it will convert all investments in USDC into its Binance USD (BUSD) token on Sept. 29. After the date, customers transferring their USDC to Binance will see the tokens be automatically converted into Binances stablecoin. However, customers will be able to withdraw money denominated in USDC. USDCs $52 billion market value leads BUSDs $19 billion. Read more here. The Merge is officially underway. WHY IT MATTERS: Activated on Tuesday, the Bellatrix upgrade is the networks final hard fork before the Merge. The activation of the Bellatrix upgrade on the Ethereum blockchain triggers the beginning of the Merge, which will likely be completed sometime around Sept. 13-16. It prepares Ethereums proof-of-stake Beacon Chain also called its Consensus layer for a Merge with Ethereums mainnet Execution layer. Read more here. Aave stopped loaning ETH ahead of the Merge. WHY IT MATTERS: Between Aug. 30 and Sept. 2, the Aave community overwhelmingly voted to stop loaning ether, setting aside democratized finances free market principle to mitigate protocol-wide risks that may arise from crypto traders betting on the Merge, Ethereum blockchains upcoming technological overhaul. Ahead of the Ethereum Merge, the Aave protocol faces the risk of high utilization in the ETH market. Temporarily pausing ETH borrowing will mitigate this risk of high utilization, the proposal highlighted by research firm Block Analitica said. Read more here. Factoid of the week Factoid Open comms Valid Points incorporates information and data about CoinDesks own Ethereum validator in weekly analysis. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check out our announcement post. You can verify the activity of the CoinDesk Eth 2.0 validator in real time through our public validator key, which is: 0xad7fef3b2350d220de3ae360c70d7f488926b6117e5f785a8995487c46d323ddad0f574fdcc50eeefec34ed9d2039ecb. Search for it on any Eth 2.0 block explorer site. || Shiba Inu and Dogecoin Move by 4% Despite Market Cap Rising to $913B: Key Insights: Dogecoin remained consolidated at $0.06 today as well. Shiba Inu rose slightly in comparison to DOGE to trade at $0.00001101. Bitcoin and Ethereum also rose to trade at $20.7k and $1.2k, respectively. With most of the meme tokens marking a hike in prices, the overall market cap of the meme coins could be seen reclaiming $15 billion. The impact of the broader markets bullishness could be seen here, as well as both DOGE and SHIB noted growth, albeit minimal. However, this could push these coins closer to recovering past losses. Dogecoin Needs a Big Push The king of meme coins has been struggling to mark a recovery since the crash of June. But even more than that, it hasnt even come close to recovering the losses it witnessed in May. In order to invalidate that 47.89% downfall, it needs to first do the same with the almost 36% crash of June. However, price indicators arent particularly supportive of the same. The Parabolic SAR is still indicating a downtrend on the charts even though DOGE marked a 3.74% rise in the last 24 hours. In order to support a rally, the white dots of the indicator will need to move beneath the candlestick and highlight an uptrend. Secondly, the MACD isnt far from exhibiting the same sentiment either. This week DOGE suddenly went experienced a bearish crossover, although, at the time of writing, some changes in the trend could be observed. The altcoin is at the edge of a bullish crossover, backed by the appearance of the green bars. Should this come into effect, DOGE will have some opportunity to rise above $0.06 and rally further. Shiba Inu Following the King Despite having higher growth in the previous 24 hours, SHIB is on the same path as DOGE. The altcoin has spent more than a month consolidated at the same price point regardless of all the fluctuations. Trading at $0.00001101, SHIB did not experience much different from the 5.34% rally. The Bollinger Bands did not diverge by much, making it apparent that the volatility in the case of SHIB is minimal and is going to stay the same way for a while. This will also keep the price consolidated even though the candlestick is above the basis. Story continues Additionally, even though the Relative Strength Index (RSI) did climb back into the bullish zone above the 50.0 mark, it isnt explicitly indicating a rise. However, if the buying pressure increases, SHIB might note a rise in prices as well. This could be its trigger for initiating recovery of the massive 70.19% losses it witnessed between April and June. This article was originally posted on FX Empire More From FXEMPIRE: Peru lawmakers open door to restoring bicameral legislature Ukraine grieves 4-year-old girl after Russian missile attack Biden confronts Saudi crown prince over Khashoggi murder, expects action on energy Haaland races to recover brutal history of U.S. Native American boarding schools Elon Musk seeks to block Twitter request for expedited trial U.S. and Saudi Arabia sign 18 agreements in energy, other areas -state TV || Are These Cryptos the Next Bitcoin or Ethereum?: While there are literally thousands of cryptocurrencies, when it comes to the big dogs, there are really only two: Bitcoin and Ethereum. Bitcoin is the originalcrypto, created in 2009, and Ethereum was created as a “Bitcoin killer” in 2015. Together, the two comprise nearly two-thirds of crypto’s $1.3 trillion global market cap, with Bitcoin alone comprising nearly one-half.
See:27 Ugly Truths About RetirementLearn:10 Richest People in the World
Although their prices have been volatile, both cryptos have provided exceptional long-term returns since their respective inception dates. That is part of the reason why investors have been piling into alternative cryptocurrencies, in the hopes of picking out “the next Bitcoin or Ethereum.” But how likely is it that another crypto can rise in prominence like the two market leaders?
Here are three cryptocurrencies that various experts and market analysts thinkhave a shot at being contenders.
Solana quickly became a favorite among traders to become “the next” Ethereum in late 2021, when its price shot up to over $260. Since then, it has fallen dramatically to less than $40 as of June 2022. However, the crypto market in general has been hammered in 2022, and Solana still maintains a market cap of about $13.5 billion, good enough to rank it as the ninth-largest cryptocurrency.
One of the reasons that Solana has often been hyped as a crypto of the future is that it is the only major cryptocurrency blockchain that uses proof-of-history. Proof-of-history is meant to be extremely fast when compared with the proof-of-work protocol used by cryptos like Ethereum, and it also has lower fees.
Solana claims it can process about 50,000 transactions per second, compared with the 15 to 45 transactions per second handled by Ethereum. This can allow Solana to scale up rapidly, one of the major requirements for a coin to catch or even surpass industry leaders Bitcoin and/or Ethereum.
Check It Out:Crypto on the GO
These characteristics have helped Solana win over the confidence of large institutions like JPMorgan Chase and Bank of America, which once said that Solana could become the “Visa of the digital asset ecosystem.”
Currently, Solana runs over 400 projects on its ecosystem, including decentralized exchanges, wallets and other defi projects. Stablecoins like Circle’s USD Coin also run on the platform. Given its low cost and scalability, the future may still be bright for Solana.
Whereas Solana has gained popularity for being faster and cheaper than Ethereum, Cardano aims to beat the top cryptos by being a more environmentally sustainable alternative. Cardano was actually developed by one of Ethereum’s creators, Charles Hoskinson, suggesting that Ethereum may be based on older technology and principles than Cardano.
Indeed, Cardano was designed as the first proof-of-stake cryptocurrency, designed to provide a faster, cheaper, more secure blockchain.
Cardano’s approach is more research-intensive than Ethereum’s, with each stage of its development peer-reviewed and thoroughly tested before implementation. The third-generation crypto is also launching smart contract capabilities, which will help make Cardano more sustainable and scalable. As some analysts describe it, Bitcoin is Crypto 1.0, Ethereum is Crypto 2.0, and Cardano is Crypto 3.0.
Cardano actually sits as the sixth-largest cryptocurrency, with a current market cap of about $30.5 billion. Like most other cryptos, Cardano’s price has been hammered. After peaking at about $3.10 in September 2021, Cardano now sits at just $0.58, demonstrating the immense risk of investing even in market-leading cryptocurrencies.
Polkadot is the 11th-largest cryptocurrency, with a current market cap of about $9.3 billion. Polkadot’s “special talent” is its interoperability, or its ability to connect multiple blockchains together into one network. As part of a single network, these numerous blockchains can exchange information without compromising security by leaving the network. This type of secure protocol is viewed by some as essential to the future of Web3, or the decentralized digital ecosystem.
As with Cardano and Solana, Polkadot aims to perform better than Ethereum when it comes to cost and scalability. But what may differentiate Polkadot from either of these other cryptos is its interoperability.
Unlike many other cryptocurrencies, many investors buy Polkadot not just to speculate on the currency itself but to bet on the success of its underlying technology. If this trend gains momentum, it could help Polkadot’s price remain less volatile than other cryptos, which in turn might attract additional long-term investors.
However, Polkadot still remains quite volatile, falling from a 2021 high of $55 to its current level below $10.
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This article originally appeared onGOBankingRates.com:Are These Cryptos the Next Bitcoin or Ethereum? || Ken Moelis' Investment Bank Creates Group to Focus on Blockchain Deals: Investment bank Moelis & Co. has started a group to focus on venture deals in the blockchain and digital asset industry, according to a press release . The bank is led by billionaire Ken Moelis who, in a speech last year, likened the crypto space to the 1848 gold rush . He remains unperturbed by a market downturn that sent bitcoin's (BTC) price plunging from $69,000 in November to $22,000, saying that “any disruptive technology is going to have volatility.” The group will be led by Moelis co-founder John Momtazee, who said the 30% of managing directors at the firm have crypto wallets. The bank was hired by crypto broker Voyager Digital in June with the intention of providing assistance in Voyager's bankruptcy proceedings. It has also worked with Ripple Labs and CipherTrace, a blockchain analytics company that was acquired by Mastercard (MA) in September. Ken Moelis has personal exposure in the crypto space after becoming an investor in Paxos in December 2020. The launch of the blockchain group was reported earlier by Bloomberg on Monday. UPDATE (July 25, 2022, 14:11 UTC) : Changes sourcing. View comments || FOREX-Yen shoots for best month in years as shorts scarper: By Tom Westbrook and Kevin Buckland SINGAPORE/TOKYO, July 29 (Reuters) - The Japanese yen headed toward its best month in almost three years on Friday as growth worries have driven U.S. yields sharply lower and squeezed speculators out of crowded short yen positions. Waves of buying lifted the yen about 1% in the Asia session, extending Thursday's gains. It is up 2% for July and touched 132.76 per dollar, a six-week high. The yen often tracks moves in Treasury yields, particularly the 10-year yield. A wide gap against anchored Japanese yields has made it attractive for Japanese investors to own U.S. bonds and for others to short the yen against the dollar. But that gap has narrowed about 30 basis points in July, the sharpest move since March 2020, as signs of both U.S. growth and interest rate rises slowing rallied Treasuries. On Thursday data showed the U.S. economy unexpectedly contracted last quarter and on Wednesday the Federal Reserve noted a slowing economy could slow interest rate hikes. "The weak growth data makes people think that it will stop the Fed from raising rates too fast," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities in Toyko. "Some traders are reducing their positions betting on a weaker yen because of the reducing risk of rate hikes." The yen is on course for its best month in six years against an ailing euro. While it is up this week, the euro is 2.6% lower on the dollar for July and faces its next test with eurozone growth data due at 0900 GMT. The euro was last 0.2% higher at $1.0214, but it faces stiff resistance at $1.0278. Economist forecasts for sluggish 0.2% quarterly growth against a backdrop of high inflation and soaring energy prices have been a dead weight on the common currency. "Currency markets are one avenue for investors to position for a European recession," Schroders' fixed income portfolio manager Robbie Boukhoufane said in a note. "The prospect for structural stagflation is high if gas rationing becomes a reality. The fear of this scenario has intensified the weakness in the euro over recent weeks." The U.S. dollar was broadly a bit softer elsewhere on Friday, too, and the dollar index headed for a second straight weekly loss. It fell 0.2% to 105.810, its lowest since July 5. The softness helped the Antipodeans to multi-week highs and a second straight week of gains. The Australian dollar hit a six-week high of $0.7018 and the New Zealand dollar a one-month high of $0.6320. The Reserve Bank of Australia meets next week, but a slightly-less-scorching-than-expected inflation reading on Wednesday has tamed bets on a 75 basis point hike and traders are expecting a 50 bps lift in the cash rate. Sterling was flat at a one-month high of $1.2203 on Friday at $1.2189 and up for the week and the month. The Bank of England also meets next week, with a 50 bp hike expected. Bitcoin is on track for its best monthly gain since last October amid signs the "crypto winter" that began with bitcoin's tumble in May, might be beginning to thaw. Bitcoin was steady at $23,905 on Friday and is up about 20% for July so far. ======================================================== Currency bid prices at 0520 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0213 $1.0196 +0.17% -10.16% +1.0225 +1.0190 Dollar/Yen 133.0950 134.2900 -0.70% +15.93% +134.6700 +133.0350 Euro/Yen Dollar/Swiss 0.9517 0.9550 -0.25% +4.43% +0.9551 +0.9515 Sterling/Dollar 1.2192 1.2184 +0.04% -9.87% +1.2203 +1.2165 Dollar/Canadian 1.2808 1.2805 +0.02% +1.29% +1.2816 +1.2797 Aussie/Dollar 0.7005 0.6993 +0.19% -3.62% +0.7018 +0.6988 NZ 0.6308 0.6291 +0.29% -7.82% +0.6320 +0.6286 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook in Singapore and Kevin Buckland in Tokyo; Editing by Richard Pullin and Kim Coghill) || Luxy NFT Marketplace: Now Live on Syscoin: Eindhoven, Netherlands, July 14, 2022 (GLOBE NEWSWIRE) -- The team is happy to announce the completion of the much-anticipated integration of Luxy Marketplace into the Syscoin ecosystem. Luxy is Syscoin’s first official NFT marketplace, making this an important step in offering Syscoin users the best of everything DeFi has to offer. Luxy is decentralized, with a state-of-the-art user experience and featureset, and first premiered on the Polygon Network on April 21st, 2022. Now, on July 13th, 2022, their integration with Syscoin’s mainnet Layer 1 is complete. With Syscoin, Luxy users gain the backing of Bitcoin’s gold standard security, and the Luxy project gains a modular blockchain with incredible scaling potential through Syscoin’s upcoming Layer 2 Rollux suite.
Luxy offers a second-to-none user experience, and this is one of many reasons it is primed to be a top global NFT marketplace. In addition to standard marketplace features, Luxy can boast the following:
• Collection launchpad
• User-owned Collections
• Support for GameFi
• Multiple royalty addresses for collaborative projects
• Direct royalties
• Support for all major file types (including 3D and audio)
• Easy navigation
• Low fees
• Discounts to holders of the $LUXY utility token
• $LUXY Pool
• $LUXY Farm
In honor of their new blockchain, Luxy Marketplace has partnered with SysPunks. TheSysPunks NFT collection will go liveas the first official Syscoin NFT collection on the marketplace within just a few hours of Luxy going live on Syscoin. SysPunks is offeringdiscounted mintingjust by holding $LUXY on Syscoin.
Additionally, Luxy is already working with Syscoin’s native DEX, Pegasys! $LUXY token was listed on Pegasys.finance on July 6th, and launched the LUXY/SYS Super Farm there, where users earn both LUXY and PSYS tokens at an initial APY of 300% by providing liquidity.
$LUXY holders are now bridging their LUXY tokens from the Polygon Network to Syscoin viaMultichain.org, which supports bridging $LUXY between BNB Chain, Polygon and Syscoin. Luxy will also be implementing their own direct payment solution in the upcoming weeks.
The trifecta of Syscoin, Pegasys, and Luxy Marketplace represents an important milestone for all three. It’s a new era for the Syscoin ecosystem, and for Syscoin’s mission to be the most capable, flexible, secure, decentralized, and scalable blockchain solution. Our three teams will continue to collaborate to ensure users across our ecosystem have access to the latest tools and unrivaled experiences. This is only the beginning, as the deployment of rollups on Syscoin’s NEVM Layer 2 will ensure lightning fast transactions and unmitigated scaling, all while retaining the security of Bitcoin merged mining combined with finality.
Luxy’s Promising Pipeline
Luxy API for Metaverse, Games, Applications
Going further, Luxy is developing a headless API that will give Metaverses, games and other applications the ability to plug into Luxy technology for seamless user experiences when players buy, sell, swap, or even create items in-game. This, coupled with Syscoin Rollux, will put Luxy technology on a level viable for mass adoption.
NFT Launchpad
Luxy will also launch their own multichain Luxy NFT Launchpad for organizations, artists and creators. This will provide all the necessary features, services, and tools that the best and most ambitious NFT projects need in order to reach their goals. The Launchpad will streamline the commonly arduous launch process by providing projects the critical gateway they need to reach target audiences. It will offer support for presales, whitelisting, fundraising, minting, and marketing, all within the fluid interface Luxy users are accustomed to.
LUXY Genesis Collection
The grand debut of Luxy’s NFT Launchpad will feature a countdown timer to the release of a highly anticipated NFT collection called LUXY Genesis. The LUXY Genesis Collection will be released first on the Syscoin network, accompanied by twice the amount of ‘God Mode’ (beyond legendary tier) NFTs, available only to early patrons using Syscoin.
About Luxy
Luxy is a premium NFT Marketplace with the industry’s lowest fees that operates on the Polygon Network and Syscoin, with plans to add more chains in order to appeal to a wider audience in the multichain future. Established in March of 2021, the team has since grown to include nineteen members full of expertise from across the industry. The platform offers a fresh user interface and advanced tools to provide a next-gen NFT experience.
Website|Discord|Twitter|Telegram|Medium
About Syscoin
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.
Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true scalability via Optimistic & ZK-Rollups and other Layer 2 technologies.
Website|Discord|Telegram|News|Github|YouTube|Facebook|Twitter|Instagram
CONTACT: Media Contacts: Michiel Syscoin https://syscoin.org/ Email - michiel (at) syscoin.org Bradley Stephenson https://luxy.io/ Email - bradley (at )luxy.io SYSpunks: Simon Longwood DegenDev (at) sysdegen.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21769.26, 22370.45, 20296.71, 20241.09, 19701.21, 19772.58, 20127.58, 19419.51, 19544.13, 18890.79
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-06-22]
BTC Price: 19987.03, BTC RSI: 27.59
Gold Price: 1834.30, Gold RSI: 46.30
Oil Price: 106.19, Oil RSI: 38.19
[Random Sample of News (last 60 days)]
EXCLUSIVE: Blockware Intelligence Publishes Report on Bitcoin: 'Bitcoin is Certainty in an Uncertain World': What Happened:Blockware Solutions, an industry leader in blockchain infrastructure and cryptocurrency mining, has unveiled its new research from proprietary research arm Blockware Intelligence titled "Bitcoin is Certainty in an Uncertain World."
Why it Matters:The report highlights how Bitcoin is largely unaffected by factors that could alter its value proposition of being perfectly scarce, portable, immutable, divisible and a fungible savings technology. Moreover, the report examines the historical impact of high inflation on the performance of various traditional asset classes including fixed income, commodities and equity markets.
Bitcoin is Certainty in an Uncertain World also dives into:
The advantages of accumulating Bitcoin During times of high uncertainty, excessive inflation and seigniorage. While many types of commodities typically perform well during inflationary periods, Bitcoin is a superior choice due to its unique immutable scarcity.
Macroeconomic uncertainty and its effect across asset classes; more specifically, the effect of unprecedented monetary stimulus, fearful market sentiment, the Federal Reserve’s method of raising interest rates, rising oil prices, the inversion of the yield curve and the Ukraine Invasion.
The possibility of the Federal Reserve raising interest rates too much in the short term means that credit is squeezed, resulting in a recession and lower interest rates in the future.
Why is the Report Important?
Throughout the last few centuries, society has constantly trusted small groups of people to make decisions for a large group of people, however, time and time again, society reaches a point where the system is not representative of people's interests, resulting in misaligned incentives and a lack of fairness.
This report analyzes the important role Bitcoin plays in transforming a system that has failed society again and again. Whereby, urging individuals to re-evaluate the level of power and trust they place in centralized authorities to make important decisions during times of macroeconomic uncertainty. Institutions must deal with rising inflation and uncertainty, experimenting with the money of everyday Americans in the process.
Bitcoin is a new financial system that can’t be controlled or manipulated by politics or human greed –– a fair and transparent savings technology for a divided world.About Blockware Intelligence
Blockware Intelligence is a research arm for Blockware Solutions, with over 70,000 newsletter subscribers, 50,000 YouTube Subscribers and a popular podcast called Blockware Intelligence Podcast. The core research team consists ofBlake Davis, Crypto-Equity Analyst;Warren Rogers, Chief Financial Officer;Joe Burnett, Mining Analyst; andSam Chwarzynski; CIO & Head of Research.
The Blockware Intelligence Podcast is hosted by 20-year-old,Will Clemente III, who is also the lead insight analyst for the Blockware Solutions Team. Will specializes in laying out topics involving finance, Bitcoin and on-chain analytics in ways that are easy to digest.
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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Pound faces ‘existential crisis’, Bank of America warns: Pound - REUTERS/ Benoit Tessier/File Photo The pound is facing an “existential crisis” and is likely to weaken further during this year, one of Wall Street’s top banks has warned. Bank of America says sterling “finds itself in an increasingly invidious position” for reasons including “increasingly challenging” Bank of England communication. Kamal Sharma, a London-based foreign exchange strategist for the lender, said the outlook for the pound was “grim”. The warnings came as the price of oil breached $120 (£95) a barrel on Monday, hitting a two-month high amid tightness in the market and concern over supplies. Oil prices have risen amid tight supply driven by the fallout from Russia’s war in Ukraine, as well as increased demand as more economies return from Covid-related restrictions. China announced easing of its restrictions, while the European Union worked on a plan to ban imports of Russian crude. The pound has fallen about 6.6pc this year in dollar terms, leaving it as one of the worst performers among the world’s major currencies. Only the Norwegian krone, Swedish krona and Japanese yen have performed worse. Earlier this month, it fell to its lowest level against the dollar in almost two years on expectations the Bank will not increase interest rates as quickly as the Federal Reserve, its US counterpart. In a note to clients, Mr Sharma said: “Sterling's fall from grace has been epic given last year's euphoria and in many ways has caught the investor community by surprise." He warned Threadneedle Street is facing “unique” challenges including Brexit that are creating severe supply-side problems. He said: “This has resulted in a confusing communication strategy: hiking rates against a sharply slowing economy is never a good look for any currency." He added: “We sense something is changing in the UK with the BoE increasingly hard to decipher and less transparent; a failure to discuss and acknowledge that Brexit has been a significant headwind to the supply side and sense that the BoE is losing control over its mandate.” Investor positioning indicates the Bank of England will increase rates five times more this year. Mr Sharma said Bank of America analysts are “increasingly sceptical” that rate increases can “come to the rescue of the pound”. He said: “Though not our central scenario, we think sterling finds itself in an increasingly invidious position, where central bank communication has been increasingly challenging; where imbalances are rising and where the spectre of Brexit still looms large on the domestic political scene." He warned investors are increasingly discussing the pound taking on the volatile characteristics of an emerging-market currency. Story continues He said: “Whilst not wishing to over-exaggerate [the pound’s] predicament as some kind of ‘end of days’ scenario, we are concerned that the increasing politicization of UK policy undermines the GBP in ways that would appear [emerging market]-like… [it] is no longer the doyen of foreign exchange markets that investors think it is." 05:09 PM Wrapping up That's all from us today, thank you for following! Before you go, have a look at the latest stories from the business team: British Airways staff threaten summer strike Electric cars should face ‘tyre tax’, says air quality adviser Sunak to forge ahead with 'NFT for Britain' despite plunge in markets Millions of homes warned of winter blackouts The charts that prove Jack Monroe was wrong about cheap food prices rising fastest 05:04 PM Boohoo expected to snap up Missguided out of administration Numbers in the Kamani vs Passi rivalry are staggering When Boohoo acquired initial 66% stake in Pretty Little Thing in 2017, PLT's annual revenue was £55m vs £205m at Missguided By 2020 (last Missguided accounts at CH) those numbers were £516m vs £202m Scale mattters! — Jonathan Eley (@JonathanEley) May 30, 2022 04:44 PM Missguided goes into administration Online fast-fashion retailer Missguided has appointed administrators at Teneo after failing to agree on a rescue deal. The struggling firm received a winding-up petition by some of its suppliers, who are still due payments worth millions of pounds. The company had been in talks with Boohoo, JD Sports and Asos but none of them finalised a takeover. Missguided is still accepting orders today but it's not clear whether distribution partner GXO will take them on, The Guardian reported. 04:30 PM Competition regulator tells Morrisons to hold McColl's separate until probe completes Morrisons has been ordered by the mergers regulator to keep McColl’s independent, until it has ruled out competition concerns. Laura Onita has the story: The Competition and Markets Authority (CMA) has launched an investigation into Morrisons’ deal to buy McColl’s, the convenience store chain, from administration and ordered the two companies to remain separate for the time being. It said that it had “reasonable grounds” to suspect some of their assets may be too similar and that this could leave shoppers worse off. However, the regulator is working with Morrisons to ensure the supermarket can support the ailing high street chain. 04:10 PM FTSE 100 closes in the green The FTSE 100 has edged higher as an easing of China's Covid curbs lifted spirits across global markets. After rising to its highest level since April 22, the blue-chip index added 0.2pc to 7,600. Asian and European stocks were in the green on news that Shanghai authorities will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago. "It has been mostly a subdued day of trade for the UK markets; while the start was good, the benchmark index could not manage to keep the momentum going," said Kunal Sawhney, chief executive at research firm Kalkine. "There has been a concern across the global markets about the economic growth that weighs down the investors' sentiments." 03:50 PM Foxtons poaches new boss from Chestertons foxtons - REUTERS/Peter Nicholls Estate agent Foxtons has appointed Guy Gittens, the boss of rival Chestertons, as its new chief to replace Nic Budden, who has led the firm since 2014. Shares jumped nearly 6pc to 38.18p amid hopes that the leadership change could address pressure from activist investors to sell the business. The move comes roughly two months after Converium Capital, a Canadian investor, called on the firm's board to sell the company after a steady decline in value over the past year. Foxtons also told shareholders it has made a "good start" to the financial year, with trading in line with targets. 03:30 PM Countryside responds to £1.47bn takeover bid Builder Countryside said that Inclusive Capital Partners's two takeover bids "materially undervalued" the company. It said that "they do not reflect the opportunity for shareholder value creation taking into account Countryside's differentiated market position and attractive business model". The investor offered 225p per share in April and revised it up to 295p per share, or £1.47bn, earlier this month, but the FTSE 250 firm has rejected both. Shares are now trading 19.3pc higher at 284.6p. 03:12 PM Handover It’s time for me to hand over to my colleague Giulia Bottaro , who will steer the blog into the evening. Thanks for following along today! 03:08 PM Price of filling a car with diesel tops £100 The price of filling a family diesel car with petrol has topped £100 for the first time as fuel costs continue to rise. RAC spokesperson Simon Williams said: Average fuel prices increased again over the weekend causing petrol and diesel both to rise to new record levels. Unleaded climbed to 172.73p a litre on Sunday which means a full 55-litre tank has now gone above £95 for the first time, while diesel reached at a new all-time high on Saturday at 182.71, taking a complete fill-up over the £100 threshold. He warned “worse is sadly yet to come” ahead of the Jubilee bank holiday. 02:41 PM Hungary ‘practically indefinitely exempted’ from EU oil embargo – NYT European Union leaders are poise to agree on an embargo of Russia oil that would leave Hungary exempted, the New York Times reports. The paper says : [N]egotiators were forced to capitulate to Hungary’s demand that it be practically indefinitely exempted from the measure. The exemption would barely dent the impact of the bloc’s new sanctions on Russia: given Hungary’s small size, its continued purchase of Russian oil offers little financial benefit for the Kremlin. But politically, it offered the most definitive sign yet that Hungary has peeled away from the bloc in meaningful ways when it comes to Russia, with which it maintains close political links. There will be an outright ban on two-thirds of oil transported into the bloc from Russia, according to a draft agreement seen by the NYT. 02:32 PM Nickel passes $30,000 on rising Chinese demand Expectations for rising demand as China reopens have pushed nickel above $30,000 a ton today, following a jump of 7.1pc. Other key metals such as copper, tin and zinc all also gained ground. Bloomberg reports: The move came in highly illiquid trading conditions, amid signs that investors and industrial hedgers are continuing to cut their exposure to the nickel market in the wake of a short squeeze in March. 02:05 PM Reminder: US markets closed We’re just past when the opening bell would have been on Wall Street, but it’s Memorial Day across the pond so markets aren’t opening. It might be time to settle in for a quiet afternoon… 01:41 PM Watchdog warns over dough-maker merger Jus-Roll - Africa Studio / Alamy Stock Photo The merger of two dough makers risks pushing up the price of cook-at-home pastries and pizzas if it goes ahead, the competition watchdog has warned. My colleague Hannah Boland reports: The Competition and Markets Authority is threatening to start an in-depth investigation into Cérélia's takeover of Jus-Rol, a deal which would see the UK's largest manufacturer of bake-at-home dough items snap up the best-selling brand in the country. Together, Cérélia and Jus-Rol account for more than two-thirds of the sales of items such as puff and shortcrust pastry dough and ready-to-bake pain au chocolats in supermarkets. Retailers would be left “with fewer alternatives” if the deal is allowed to progress, meaning potentially higher prices and worse quality, the CMA warned. Read more: Dough maker merger risks pastry price rise, watchdog warns 01:22 PM Bitcoin rises most in two weeks Bitcoin has posted its biggest gain in a fortnight, amid a widespread advanced for assets in the crypto space, which have taken a severe hit over recent months. The world’s biggest cryptocurrency has gone through weeks of consecutive selling, but seems to have found a bottom for now. 01:05 PM Retail footfall forecast to jump amid Jubilee celebrations UK retail footfall is forecast to rise 8pc this week, with a 10pc jump on high streets, according to consultancy Springboard. Britons are expected to ignore the mixed weather forecast to push ahead with shopping/ Diane Wehrle, Springboard’s insights director, said: With just a modest rise in footfall last week, we are anticipating a boost this week generated by the Platinum Jubilee Bank Holiday combined with the school half term break. 12:50 PM FTSE flat as a pancake Global risk rally? You wouldn’t think it to look at the FTSE 100, which is skimming along totally flat at time of pixel. 12:15 PM German inflation beats expectations German inflation has come in hot: EU-harmonised prices rose 8.7pc in the year to May, according to a preliminary estimate. That’s the faster rise since reunification, a lot faster than the 8.1pc expected by economists, and a sizeable jump from April’s 7.8pc. The rise, driven by soaring energy and food costs, will pile more pressure on the European Central Bank, which is meeting in 10 days. 12:00 PM Full report: ONS refutes Jack Monroe claims on food price inflation My colleague Tom Rees has a full report on the ONS’s research into food price inflation (see 9:58am post). He writes: Its experimental data found that value range pasta, beef mince and bread jumped in price but the cost of budget potatoes, cheese, pizza and chips fell. Budget brand pasta was up 50pc in the year to April and crisps were up 17pc. However, overall the inflation rate on low-cost items was broadly in line with the average product range, contrary to Ms Monroe’s complaints. Read more: The charts that prove Jack Monroe was wrong about cheap food prices rising fastest 11:26 AM Eurozone confidence edges higher Confidence in the eurozone economy rose unexpectedly this month as fears over inflation waned. A sentiment gauge produced by the European Commission climbed to 105, from 104.9 the prior month. Economists had expected it to decline to a 14-month low. Dwindling manufacturer confidence was offset by more upbeat responses from services and construction. Consumers also became more cheerful. 10:58 AM Watchdog investigating Morrisons’ takeover of McColl’s The Competition and Markets Authority has announced an investigation into supermarket Morrisons’ takeover of McColl’s, the struggling retailer. The competition watchdog said it had launched the probe amid competition concerns. It has issued an initial enforcement order, forcing both businesses to continue to compete as they did before will investigators carry out their work. Morrisons was named as McColl’s buyer earlier this month after the convenience-store company fell into insolvency, having beaten a bid from the billionaire Issa brothers and private equity group TDR Capital. 10:36 AM Rising price reductions as housing market cools Housing market - DANIEL LEAL-OLIVAS/AFP/Getty Images Despite record average prices, the UK housing market is showing signs of a cooling with more sellers offering discounts, according to Zoopla. Bloomberg reports: Since the second half of April, one in 20 properties listed on the firm’s online real estate portal saw a price reduction, compared with one in 22 in the previous 28 days, the property website said Monday. The average cost of a home hit a record £250,200 in April, Zoopla found, though the pace of monthly price gains had slowed since the start of the year. Homes were also taking slightly longer to sell in recent weeks. A three-bedroom property outside of London was taking an average 18 days for a sale to be agreed compared to 16 days in March. In London, three-bedroom homes were taking an average 21 days to sell, up from 17 days previously, Zoopla said. 10:03 AM Countryside jumps after second approach Shares in FTSE 250-listed developer Countryside Partnerships are up about 25pc at present, having risen as much as 30pc after it received a second approach from Inclusive Capital Partners, a private equity group. The San Francisco-based suitor criticised Countryside’s management over its £1.47bn, 295p-per-share offer, saying: The In-Cap team believes that Countryside shareholders deserve the opportunity to decide on the merits of any offer, and that if an approach is made in good faith, the Countryside Board should act in the interests of its shareholders by engaging with the potential offeror and not deny its shareholders this opportunity. Countryside’s shares are up to 298p, suggesting that – narrowly – investors don’t think InCap is offering enough. 09:47 AM BofA: Pound faces ‘existential crisis’ A pretty brutal note on the pound just in from Bank of America, which says the currency is facing an “existential crisis” following an “epic” fall from grace. Kamal Sharma, one of the lender’s analysts, says he expects further sterling weakening: Though not our central scenario, we think sterling finds itself in an increasingly invidious position, where central bank communication has been increasingly challenging; where imbalances are rising and where the spectre of Brexit still looms large on the domestic political scene. He continues: Whilst not wishing to over-exaggerate GBPs predicament as some kind of “end of days” scenario, we are concerned that the increasing politicization of UK policy undermines the GBP in ways that would appear EM-like. 09:17 AM Pound firms against dollar amid risk-on mood Sterling has crept higher against the dollar today, amid a mixed performance for the US currency, which is weakening as investors embrace riskier assets. 09:10 AM Minister hints at Hinckley Point B extension The Business Secretary is considering whether Hinkley Point B nuclear plant “might continue beyond its planned end of life”, a culture minister has said. Chris Philp was asked on Times Radio about reports that plans have been drawn up to ration electricity in the UK if European supply issues continue to deteriorate in the winter. He said: I think what the Business Secretary Kwasi Kwarteng did last week was take some sensible precautionary measures to guard against a potential worst-case scenario. He asked I think the three remaining coal-fired power station operators to just keep their power stations available beyond the point of which they were due to be switched off, and I think he is considering whether Hinkley B, the large nuclear power station, might continue beyond its planned end of life as well. 08:58 AM Pasta sees big price increases – but cheapest foods aren’t seeing above-average inflation overall Some interesting research in from the Office for National Statistics today, which – following pressure from campaigner Jack Monroe – has done an analysis of food price inflation that specifically looks at the cheapest items available in each category. Mr Monroe has suggested that headline inflation figures were misleading, and under-stated the intensity of cost increases for households how were trying to buy the cheapest products. The ONS has found, based on “highly experimental” research, that there isn’t much difference. It says: One of the most exceptional increases appears to be pasta: 08:41 AM Tesla Shanghai factory output at 70pc of pre-lockdown level Tesla - VCG/VCG via Getty Images Output at Tesla’s gigafactory in Shanghai has returned to 70pc of where it stood before recent lockdowns, sources have told Reuters. The newswire reports : The US automaker, which added a second shift of workers in the middle of last week, is expected to increase output further this week, said the people, who declined to be named as the matter is private. Tesla did not immediately respond to a request for comment. Bringing production back to pre-lockdown levels has been a challenge for Tesla at the Shanghai plant, known as Gigafactory 3, amid the ongoing lockdown of the Chinese economic hub which forced the factory to shut for 22 days. 08:28 AM Sorrell’s S4 Capital: We want to use pre-pullback price for deals A fascinating detail from S4 Capital, the digital advertising group founded by Sir Martin Sorrell, which has released a first quarter trading update today. The deal-hungry group, which recently tanked its shares by delaying the release of its 2021 results after auditor PwC raised concerns, says (my bolding): We also continue to deploy the 50:50 cash:equity business combination structure we have used from inception almost four years ago, but are only prepared to issue our equity at the pre-delayed 2021 results announcement VWAP level of 425p , as we did with TheoremOne and continue to do with one other potential merger partner. That’s about 50pc higher than where it was trading before the open today, so is likely to raise some eyebrows! 08:02 AM Money round-up Here are some of the day's top stories from the Telegraph Money team: Money Makeover: ‘I was burnt by a mis-sold pension – should I become a landlord instead?’ : A reader is shaken after bad advice. Should she change her retirement plan so it hinges on buy-to-let? The signs the property market boom is disappearing fast : House price growth is forecast to plunge to 3.4pc by the end of the year. Royal Mail accused of wrongly charging customers £150 ‘Brexit tax’ on items they already own : Courier says errors are down to the mistakes of customers, not staff. 07:39 AM Kwarteng to confirm audit-reform dilution – Times Kwasi Kwarteng - REUTERS/Hannah McKay/File Photo Watered-down reforms to the UK’s corporate governance regime – including declawed measures on audit reform – will be confirmed by Business Secretary Kwasi Kwarteng this week, The Times reports. The paper says : He is due to confirm that he is not taking forward proposed reforms, modelled on America’s Sarbanes- Oxley Act, under which directors would face bans or fines for signing off inaccurate accounts. The proposal, first announced more than a year ago, prompted fierce criticism from business lobby groups, which complained that the additional costs would make Britain a less attractive place to establish companies. 07:28 AM Congestion has been rapidly easing in recent weeks There are some signs that the wave threatening to crash upon Western ports is already coming. Data from VesselsValue, a maritime intelligence group, shows average waiting times at Shanghai have fallen sharply after a peak in late April. VesselsValue - VesselsValue 07:24 AM Return of Shanghai threatens shipping shock Shanghai's reopening isn’t just a demand story – it also signals a potential boom in supply, with the ‘workshop of the world’ open for business again. As Judah Levine, an analyst at shipping consultancy Freightos wrote in a note last week: Most in the industry are expecting pent up demand to send a surge of ocean exports towards destination ports like LA/Long Beach when manufacturing in Shanghai rebounds. As I wrote earlier this month: Now that Shanghai is finally reopening, factories are scrambling to relaunch their operation and begin tackling a major backlog of work. “They're essentially restarting almost from scratch,” says Heaney. Peak season, the second half of the year, when the shipping trade picks up strongly ahead of the holiday season , is alarmingly near. A wave of orders from the third quarter threatens to pile on the strain as China plays catch-up. Read more: West braces for Shanghai shock as zero-Covid nightmare ends 07:09 AM FTSE opens higher as rally continue The FTSE 100 has opened about 0.4pc higher, extending a rally from last week. US markets are closed today for a holiday but things look fairly calm across equities currently. 06:55 AM Oil gets twin boosts from China and stalled EU talks Oil’s break through $120 a barrel follows several weeks of steady gains. It’s often difficult to pinpoint exactly why something is rising, but there are clear two big factors here: China is preparing to reopen Shanghai fully after nearly three months of restrictions. This is expected to cause an upswing in demand as the manufacturing hub ramps up for the season of peak demand (from summer to Christmas). EU nations failed to reach a deal at talks on Sunday over banning Russian crude, but a deal (which would cut the West off from Russia oil) is still in the offing according to officials. 06:43 AM Agenda: Shanghai reopening Good morning. Brent crude oil has topped $120 per barrel for the first time since March as China prepares to reopen the manufacturing hub city of Shanghai. The FTSE 100 is set to open 0.4pc higher as a rally across stocks continues. 5 things to start your day 1) How Beijing’s surveillance cameras crept into Britain’s corridors of power Cameras used to monitor Uyghur camps in widespread use across UK schools, hospitals and government buildings. 2) Sunak to forge ahead with 'NFT for Britain' despite plunge in markets A market turmoil that has wiped billions of pounds off the digital assets. 3) Electric vehicles should face ‘tyre tax’, says air quality adviser Particulates generated by tyre wear are more dangerous to public health than diesel exhaust fumes – some say. 4) Why Mercedes and Volkswagen’s big bet on the wealthy is at risk of backfiring Luxury car sales reaped huge rewards in the pandemic, but signs suggest the boom won’t last for long. 5) Shanghai scrambles to avoid zero-Covid economic catastrophe China's biggest port launches stimulus effort after months of severe lockdowns What happened overnight Asian markets rose on Monday as investors regained confidence after the release of healthy US data and as China eases some of its strict Covid curbs in Shanghai and Beijing, lifting hopes for the world's number two economy. Hong Kong put on more than two per cent after a strong Friday performance fuelled by a rally in tech firms, while Tokyo, Sydney, Shanghai, Seoul, Taipei, Manila and Wellington were also well up. Coming up today Corporate: No scheduled updates Economics: Consumer confidence (EU) , business climate (EU) View comments || Shopify Is Not a Good Way to Play the Coming Growth Stock Rebound: Despite its sharp retreat over the last several months,Shopify(NYSE:SHOP) stock still has an exorbitant valuation at a time when Wall Street is shunning such names. And with investors looking for firms whose profits are increasing, the Canadian company’s bottom line is expected to fall sharply in 2022. Also hurting Shopify’s outlook is the fact that the e-commerce sector appears to be one of the Street’s least favorite type of businesses at this point.
In light of all of these negative factors, I urge investors to sell SHOP stock.
Shopify’s shares have sunk 67% so far this year. Nonetheless, the nameis trading at ahuge forward price-to-earnings ratio of 189x and a large, trailing price-to-sales ratio of 12.7x.
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Analysts, on average, expect Shopify’s sales to surge nearly 30% this year. Particularly in the current climate, that’s not enough growth to justify the valuations at which Shopify is trading.
Making matters worse, analysts, on average, expect the company’s earnings-per-share to tumble nearly 50% in 2023 to $4.27 from $8.09 this year. Additionally, in February, Shopify predicted that itsrevenue growth would fall in Q1,versus the previous quarter, and the company warned that the positive catalysts that it had obtained from the lockdowns and “government stimulus” in 2021 would not occur again this year.
• 7 Oversold Stocks to Buy Before They Rebound
While it’s true that I expect investors to become much more bullish on growth stocks later this year, I think that it will be a long time before the Street embraces companies with very high valuations whose profits are sinking.
Investors could not get enough shares of e-commerce names during the pandemic, but now they seem to be running away from the sector. For example, so far this year,Amazon(NASDAQ:AMZN) has declined 15%, whileWayfair(NYSE:W) has slumped 57%.
Investors’ confidence in SHOP stock and other e-commerce names is likely to increase as fears about inflation and overwhelming interest rates ease later this year. Still, given the high valuation and declining profits of SHOP stock, I think that there are much better names with which to play that trend.
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postShopify Is Not a Good Way to Play the Coming Growth Stock Reboundappeared first onInvestorPlace. || Business isn’t waiting for regulations before investing in crypto: Big business isn’t waiting on Washington to regulate crypto. They’re already figuring out how to use crypto to improve operations — all within current laws. “They’re saying how do we do this in bounds?” Rob Massey, partner and global tax leader at Deloitte & Touche, which advises businesses on how to comply with regulations, told Yahoo Finance. “There are demands coming from customers; the business wants to move forward, let's figure it out…They want to do this now.” Their efforts come as Deloitte execs and their clients closely watch the outcome of President Joe Biden’s executive order on regulating crypto, the bipartisan proposal introduced this week by Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY), and the various agencies’ reports on crypto that are due out this fall. “We're hoping that we will have basically a regulatory framework that will position the United States as leaders in this industry for the globe,” said Tim Davis, Principal in Deloitte’s Risk and Financial Advisory. Bangkok, Thailand - 1 July 2021: Cryptocurrency on Binance trading app, Bitcoin BTC with altcoin digital coin crypto currency, BNB, Ethereum, Dogecoin, Cardano, defi p2p decentralized fintech market (Chinnapong via Getty Images) The principals at Deloitte say companies they advise all see strategic and commercial opportunities with crypto. Companies are looking at NFTs in particular and examining them beyond just as financial digital assets and considering them as smart contracts that improve commercial activities using programmable money. Many corporations are also looking at NFTs as a bundle of rights. “In a traditional world, we have contracts which govern the rights to IP. If someone uses or exploits IP (ex. uses a song) without the appropriate permission or remuneration, the owner of the rights must identify the violation and then take steps to resolve the situation and get paid. This normally includes the use of counsel,” Massey said. “With NFTs that govern IP rights, we could envision a world where tokens are used to access and pay for the use of the songs. These tokens then facilitate a near real time revenue split to all parties who have the rights to that song.” Story continues In the financial industry, companies are looking at blockchain technology to settle trades faster and unlock capital and liquidity. It can take three days to settle trades on Wall Street, tying up capital locked up by counterparty risk. “That whole industry is looking at how they can close that window to potentially settling trades within the same day,” Davis said. “That will create a significant amount of additional liquidity, de-risking and transparency into the markets that we just don't have today.” abstract grid with word cloud, concept of NFT, non fungible token and crypto art (3d render) (lucadp via Getty Images) Settling trades faster would increase the velocity of money so that funds could be moved quicker, allowing financial service firms to lower liabilities and risks. “There's a lot of fear that gets held up, where you're in a trade where you have a position you can't get out of,” Davis said. “By just removing that, trillions of dollars that are held up in post- trade settlement processing, it will make the whole global economy much more efficient.” With additional regulatory clarity, the execs at Deloitte believe more corporations will adopt crypto technology, which will lead to more retail adoption.They say it’s not just about using crypto as an investment. “We should be talking about commercial activities happening differently with programmable money,” Massey said. “Once that is as normal, that’s when we really see people engaging. It's not for investment. It's just instead of having cash in your wallet, right?” YF Plus Jennifer Schonberger covers cryptocurrencies and policy for Yahoo Finance. Follow her at @Jenniferisms . Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and YouTube . || What Happens if Stablecoins Win?: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Editor’s note: As part ofCoinDesk’s Payments Weekwe asked a number of engineers, executives and experts to weigh in on the substantial issues raised by the crypto industry. In this roundtable discussion they answer: How might the world be different if stablecoins take off?
This article is part of CoinDesk’sPayments Weekseries.
Privately issued stablecoins have the ability to extend access to the dollar to brand-new markets that have previously been locked out. While there is a long history of privately issued money going wrong, we now have the tools to audit and safeguard consumers against most of those risks. Creating demand for the dollar around the world by giving more people access to it is a win-win for the U.S. and global economy.
– Will Reeves, CEO and co-founder of Fold
Having multiple fiat currencies introduces a huge amount of friction into the world economy via conversion costs, restrictions on purchases and lost value. At a time when daily data output is measured in exabytes and transmitted via Starlink, janky fiat currencies only survive by coercion.
It’s possible, however, we might crowdsource a better option. In 1906, Sir Francis Galton observed that the median guess of a crowd of 800 people betting on the weight of an ox was correct within a 1% margin of error. This has become known as “the wisdom of crowds.”
To some extent, crypto today is a global attempt at putting brain power towards guessing the best money. All the better that “guess the best stablecoin” is supercharged by the fact that people are financially invested in the conclusion – they have skin in the game.
Jeff Booth, author of “The Price of Tomorrow,” has said that “Intelligence is error-correction.” Fiat currencies are like a global dementia, introducing tiny errors into the trillions of financial decisions the world makes every day. Converging on a single stablecoin would be like a shot ofNZT: every decision would be fractionally smarter, summing up to a huge boost to our collective intelligence.
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The problems of poverty, inequality and social justice would still exist in a world with a crowdsourced stablecoin, but at least with a rational mechanism to make decisions our hive mind could begin to think clearly about the solutions.
– libertant, content manager at Windranger Labs
Merchants, in general, don’t want to settle in volatile crypto. They have a balance sheet, they have accounting, they have rules they have to abide to. It’s really complicated to have crypto on your balance sheet, so they tend to prefer stablecoins from that perspective. They’re very open to keeping stablecoins on their balance sheets because then they can turn around and pay their employees, pay their providers across borders and essentially have something from a settlement point of view. That’s much more powerful than having cash in a bank account.
– Joao Reginatto, vice president of product at Circle, speaking during a CoinDesk “Payments Week” Twitter Spaces event.
Stablecoins that are asset-backed and audited seem to present a good solution that combines the authority of a government and the value of tangible assets to preserve financial value. The more exploratory area of stablecoins involves complicated algorithms and financial incentives – like the decentralized network Terra. Whichever becomes the dominant solution, both offer the opportunity to transfer an amount of money relatively instantly at a very low cost without middlemen. That means no more need for Visa or Mastercard to process payments.
The key to making crypto payments successful is enabling everyone to own crypto and pay with crypto easily. Having salaries paid in USDC, a cryptocurrency pegged to the U.S. dollar, or another stablecoin would help catalyze industry growth as people wouldn’t need to “on-ramp” into crypto. Additionally, point-of-sale systems need to accept crypto as a form of payment by default.
Today, most stablecoins track the value of fiat currencies but we might see the adoption of coins pegged to valuable assets like gold. These might, in reality, prove to be the best for when “paying with crypto” due to possibly being inflation-resistance. But for day-to-day transactions – whether using BTC, ETH, SOL, etc. – transaction and conversion costs will be important. The cost of paying for goods and services would need to be less than the average 3% transaction fees imposed by large credit, debit and app payment processors to prove valuable to merchants.
– Kyle Zappitell, CEO of Neon
Satoshi described Bitcoin as “a peer-to-peer electronic cash system,” or a digital money as private and free as the notes in your wallet. It’s a compelling vision given that payments today are a mess of incompatible national standards. Systems like SWIFT, which are useful only to large institutions, are rent-seeking intermediaries whose profits push up the cost of nearly every transaction on the planet.
The journey from technical breakthrough to mass adoption has been long, and requires overcoming multiple challenges before the dream of replacing the rickety old financial system with its gatekeepers and built-in surveillance can be realized.
But, simply said, crypto isn’t a viable end-to-end payments product – yet. It will be a while before there’s a crypto offering with a serious chance of success against the likes of Visa or Apple Pay.
Bitcoin, ether and other “native network tokens” are still too volatile for serious real world payments, and transaction fees on most chains are too high for all but the largest payments. The [user experience] is often still poor, and integrations with the wider business and the financial world are held back by technical and regulatory uncertainty. Nobody wants to integrate with something that might be dead in a year’s time.
See also:Why Haven't Crypto Payments Taken Off?| Opinion
But progress is being made and the future looks brighter. UX is improving by the day, and faster, more efficient blockchains and scaling layers with lower fees are coming thick and fast. Stablecoins make payments a possibility, like Satoshi envisioned, even with the underlying volatility of crypto. And regulators are showing signs that they might clarify the rules around stablecoins (making like more like banks) and allow the industry to move forward.
– Barney Mannerings, founder of Vega
Stablecoins solve the problem of crypto price volatility while granting businesses access to Web 3-enabled liquidity and capital markets, and we’re making strides in navigating a big hurdle to adoption – regulatory clarity. In fact, the U.K. Treasury recently announced that it will begin regulating stablecoins as part of a wider plan to turn the nation into a hub for digital payment companies. This is part of a rising tide of governments and regulators recognizing the potential value of stablecoins as reliable, asset-backed financial instruments designed to enable high-volume, daily payments.
Read More:UK Crypto Industry Hopes for More Clarity From Planned Stablecoin Rules
Stablecoins’ usefulness may be old news for experienced decentralized finance (DeFi) proponents, but big regulatory moves like this provide much-needed legal clarity and awareness for legacy businesses interested in future-proofing their existing payment processes and delivering more value to their customers. This is why the growing acceptance of stablecoins is so important – because these assets are more immediately useful to businesses and consumers than other more experimental protocols and Web 3-based thought experiments.
At the end of the day, crypto entrepreneurs need to keep in mind that distributed ledger technology and cryptocurrencies are just a means, not an end, to addressing the real-world challenges businesses and ordinary consumers face.
– Antoni Zolciak, co-founder of Aleph Zero
Thanks to NFTs, stablecoins can be bundled together with other tokens and currencies, and users will be able to imprint music, video or images onto or within their transactions. Payments already value in themselves, but now can make their personal meaning more known, more apparent, more literal. We are on the cusp of seeing this NFTs/stablecoins combination to create an entirely new emotional and economic model in crypto and – moresignificantly– personal finance.
Imagine sending to your husband a currency transfer jointly with a video of your newborn child? Or sending 100 USDT with a CryptoPunk? People will spend in different ways, but also design their bundles for each occasion. Perhaps some stablecoins will even be pegged to the value of an NFT along with fiat or some algorithm. This bundle allows stablecoins to integrate into art and finance, creating infinite possibilities to advance our culture.
– Alexander Mitrovich, CEO of Unique Network
The evolution in interest among TradFi, which was once dominated by diehard crypto skeptics, from crypto curiosity to crypto commitment is perhaps the industry’s most important move yet.
Porn, gambling and even furniture sales are deemed “high-risk” merchant categories. Sometimes the risk is financial; other times it’s just bad publicity.
How and why those original digital payments projects are no longer with us today can give us an idea of what needs to be done to do it right. This piece is part of CoinDesk's Payments Week. || El Salvador minister says Bitcoin crash poses 'extremely minimal' fiscal risk: SAN SALVADOR (Reuters) - El Salvador's Finance Minister Alejandro Zelaya on Monday dismissed concerns that a sharp drop in the value of bitcoin could hurt the Central American nation's fiscal health. El Salvador last September became the first country to make bitcoin a legal tender, alongside the U.S. dollar, despite criticism by the International Monetary Fund and credit agencies. "When they tell me that the fiscal risk for El Salvador because of Bitcoin is really high, the only thing I can do is smile," Zelaya said at a press conference. "The fiscal risk is extremely minimal." Since last September, El Salvador's government has purchased 2,301 units of the cryptocurrency, which fell on Monday to its lowest value since 2020. Zelaya cited an earlier estimate from Deutsche Welles that the country's bitcoin portfolio had lost some $40 million in value. "Forty million dollars does not even represent 0.5% of our national general budget," he said. Bitcoin's value has dropped some 50% since it became legal tender in the country. (Reporting by Nelson Renteria; Writing by Brendan O'Boyle; Editing by Richard Pullin) || XRP Takes a Dive Ahead of Wednesdays SEC v Ripple Court Date: Key Insights: On Sunday, XRP rose by 5.07%. Following a 0.92% gain from Saturday, XRP ended the week down by 21% to $0.4475. Stablecoin market angst, stemming from the TerraUSD (UST) de-peg with the dollar, sent the crypto market into the deep red. Market reaction to Ripples court submission was upbeat ahead of the SECs submission this Wednesday. On Sunday, XRP . Rose by 5.07%. Following a 0.92% gain from Saturday, XRP ended the week down 21% to $O0.4475.The downside came despite a positive reaction to Ripples Friday court submission on the SEC v Ripple case. Last week, Ripple filed a reply to the SEC Attorney-Client Privilege brief relating to William Hinmans 2018 speech and notes. William Hinman, former SEC Director of the Division of Corporation Finance, remains a central figure in the SEC v Ripple case. In a 2018 speech, Hinman said that Bitcoin ( BTC ) and Ethereum ( ETH ) are not securities. The SEC is looking to shield documents and emails relating to internal discussions and Hinmans famous speech. SEC to Submit a Reply to Ripples Friday Response on Wednesday This Wednesday, the SEC is to respond to Ripples reply to the SEC brief. The Hinman files have become so pivotal that Ripple defense lawyer Matthew Solomon noted the SEC making at least six filings in opposition to Defendants August 10, 2021 motion to compel. Last Friday, Ripple delivered a compelling argument. It remains to be seen, however, whether the SEC can convince the judge to do a complete about turn on the issue of attorney-client privilege. In January and in April, the court ruled in favor of Ripple, forcing the SEC into requests for extensions and additional motions. With the court ruling likely key for both sides, either side may contest any court ruling. For the crypto market, an outcome in favor of the SEC would test XRP support ahead of any further motions. XRP Price Action At the time of writing, XRP was down 7.22% to $0.4152. A bearish morning saw XRP slide to an early morning low of $0.4084 before finding support. Story continues XRPUSD 160522 Daily Chart Technical Indicators XRP will need to move through the First Major Support Level at $0.4247 and the $0.4371 pivot to target the First Major Resistance Level at $0.4595. XRP would need broader crypto market support to return to $0.45 levels. In the event of an extended rally, XRP should test the Second Major Resistance Level at $0.4717. The Third Major Resistance Level sits at $0.5062. Failure to move through the First Major Support Level at $0.4247 would bring the second Major Resistance Level at $0.4026 into play. Barring another extended sell-off throughout the day, XRP should avoid sub-$0.40. The Third Major Support Level sits at $0.3678. XRPUSD 160522 Hourly Chart The EMAs and the 4-hourly candlestick chart (below) send a bearish signal. At the time of writing, XRP sat below the 50-day EMA, currently at $0.4608. This morning, the 50-day EMA pulled back from the 100-day EMA. The 100-day EMA also pulled back from the 200-day EMA, XRP negative. A move through the 50-day EMA would support a return to $0.50. While sentiment from the broader crypto market will influence, this weeks submissions and any commentary will be the key. XRPUSD 160522 4-Hourly Chart This article was originally posted on FX Empire More From FXEMPIRE: Brazil Senate leaders offer support for courts facing Bolsonaro attacks Bezos and White House battle over taxes and inflation BoE faces historic test but not to blame for inflation, Bailey says Erdogan says Swedish, Finnish delegations should not bother coming to Turkey Enel eying U.S. market for grid business Pirellis shareholders indicate Bruno as new CEO, extend pact || Is Mullen Stock Too Risky to Touch?: Looking under the hood ofMullen Automotive(NASDAQ:MULN) does not make me, to say the least, very confident in MULN stock.
One of the company’s greatest achievements is supposed to be the electric-vehicle battery that it has produced. According to Mullen,its batterycan deliver more than 600 miles of range. That number is, as the company maintains, very “impressive.”
But after examining the backgrounds of the two organizations that conducted tests of the company’s batteries and learning details about the partner with which it was developed, I’m very skeptical about the extent to which the test results can be relied upon by investors.
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[{"Ticker": "MULN", "Company": "Mullen Automotive, Inc.", "Current Price": "$1.1350"}]
The most recent evaluation was performed by an organization calledBattery Innovation Center.
Based upon a page entitled “The BIC Team” on the company’s website, the top executive in charge of battery testingis a man namedJonathan Pace, who is its senior test and evaluation lab technician.”
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According to the website, Pace is working towards finishing his associate’s degree in electronics technology at Vincennes University.” And the only work experience listed in his biography is seven years in the Army as an artillery cannon crewmember. Although I’m grateful for Pace’s service in the Army, operating and testing cannons does not necessarily seem like something that would prepare someone well for leading the testing of a high-tech EV battery. And Pace’s apparent lack of any sort of advanced degree is also somewhat off-putting.
Ben Wrightsman, BIC’s CEO, does have some technical experience and an electrical engineering degree from Purdue University, according tohis LinkedIn profile,. But he has spent much of his professional career at either BIC orEnerDel,which developsenergy storage systems, battery packs and lithium ion solutions for the industrial sector.
After looking throughEnerDel’s website, it appears that, since 2020, the company has not announced deals with any major customers, aside from agreements with distributors. In 2020, it trumpeted a dealwith a sizeable customer calledOdyne, but the value of the agreement was not specified. In 2019, EnerDeal unveiled two deals,one withWorkhorse(NASDAQ:WKHS), whichhas had morethan its share of quality-control issues, andanother with a sizeable company,Johnson & Towers. But again, no financial specifications for the latter agreement were divulged.
As for BIC itself, I could not find any mention of deals or customers on its website. It appeared that its only endeavorsmentioned in thenews section of its website were conferences hosted by the organization.
In February, Mullen reported that a test of its battery had yielded impressive results. But according toHindenburg, a research firm which was shorting MULN stock in April when its report was unveiled,the CEO of the company thatactually conducted the test, was not impressed with Mullen’s battery.
Specifically,EV GridCEO Tom Gage stated that the battery “was big, which created question marks in my mind too. And it was misshapen and really kind of an ugly thing.” Hindenburg reported. He added that he would not have used such superlative terms to describe the test results.
Moreover, Gage reportedly told Hindenburg that “EV Grid more or less ceased operations by June or July of 2020 and for the first half of the year it was basically shut down and I was moving out storing stuff in a warehouse because I had this other job at Indi EV.” Gage believes that the test of Mullen’s battery was actually carried out in 2018 or 2019.
Also worth noting is that, according to Hindenburg, Mullen’s battery was developed in collaboration with a Chinese company calledLinghang Boao. The two companies signed a partnership agreement in November 2019, about a year after Linghang was launched.
Hindenburg reported that, as of April 2022, Linghang’s website cannot be accessed, and it currently “shares a cell phone number with at least 99 other companies and listed its address inside a high-rise building (not a factory),” Hindenburg reported. Mullen paid Linghang a grand total of $390,000, the research firm stated. Additionally, Mullen only spent $3 million on research and development last year.
In summary, Mullen’s battery was reportedly developed in partnership with a company that seems to have folded, while it was tested by two organizations that appear to lack major customers and possess unimpressive track records. Moreover, Mullen appears to spend very little money on R&D, making its claims about the battery more suspect.
Given these points, I urge investors to sell MULN stock.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postIs Mullen Stock Too Risky to Touch?appeared first onInvestorPlace. || TikToker reveals how she makes six figures a year through Airbnb rentals: ‘[It] changed our life’: A TikToker is going viral after sharing how Airbnb arbitrage properties changed her life. The post comes from The KarWells ( @thekarwells ), two friends who run a successful real estate business and a TikTok page full of investing tips. In one of the page’s most popular clips , Sarah Glidewell, one half of The KarWells, recently explained how she went from making $50,000 per year to over $100,000 from Airbnb rental properties. Bitcoin ETFs: What are they and how to invest in them? Her clip is just the latest in a recent trend of TikTokers embracing financial transparency on the app. In one video, a business owner detailed how she pays all of her employees — including herself — the same salary . In another, a Google employee shared how he went from having a 1.2 GPA in college to making $344,000 a year . Glidewell’s financial situation, she explained, came largely from Airbnb arbitrage properties. Typically, Airbnb hosts own the properties they rent through the vacation app. However, Airbnb arbitrage is the process of renting a property and subletting it to Airbnb guests. The process can be difficult to pull off due to legal restrictions and issues with landlords, but, as Glidewell shared, it can also be very profitable. In her clip, Glidewell explained how she was making $50,000 at her day job in 2019. Despite people encouraging her to save up for a new car, she managed to put away $20,000 to invest in her business idea instead. She used that money to start renting and furnishing four different properties, which she then listed on Airbnb. Less than three years later, she’s making between $7,000 and $15,000 per month in profit. “Had I listened to everyone else,” she said. “I’d have a two and a half-year-old vehicle, I’d still be at a nine-to-five. … All I’m saying is, stop trading what you really want for what you want right now.” Check out our men's beach and swimwear summer style guide: The business model clearly transformed Glidewell’s financial situation — The KarWells’ TikTok bio says, “ Airbnb changed our lives ” — but, it also left TikTokers with plenty of questions. Specifically, commenters wanted to know how, and under what circumstances, arbitrage is legal. Story continues There are local and state laws that disallow sub-leasing, as well as some places where pricing may make it difficult . Additionally, many leases forbid rental arbitrage. As Glidewell explained in the video’s comments, she had to call and negotiate with landlords directly in order to strike a deal where she could re-lease her rental. As with many recent financial stories on the app, TikTokers praised Glidewell for the insight. “Saving 40% of your salary is very impressive! Congratulations,” one user wrote. “Such a great example of true investing,” another added. Get Jordyn Woods's makeup look with these products: The post TikToker reveals how she makes 6 figures a year through Airbnb rentals appeared first on In The Know . More from In The Know: The 5 best air purifiers for smaller spaces that actually help with allergies — as low as $40 22,000 Amazon shoppers swear by this electric callus remover to get baby-smooth feet in time for summer This tiny magic device will keep mosquitoes away all summer — and it's only $20 right now Missed Way Day? Wayfair's Memorial Day deals are just as good (if not better!) — shop major discounts on Le Creuset, BISSELL and more || Kevin Zhou on UST's Roller-Coaster Ride and Where It Goes From Here: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
For months now, Kevin Zhou, the co-founder of hedge fund Galois Capital and former head of trading at digital asset exchange Kraken, has been sounding the alarm on theLUNAandUSTissuer, Terraform Labs.
Just today,Terra briefly halted its blockchain, citing inflation for LUNA and the potential for government attacks after the price of the token plunged to less than 2 cents.
And in the span of 72 hours, the Terra ecosystem, which includes the LUNA token and UST, among other algorithmic stablecoins, has been in free fall. LUNA’s price has fallen by more than $80, while UST, the stablecoin pegged to the U.S. dollar, dropped to 37 cents earlier Thursday.
Despite his concerns, Zhou has been taken aback by how quickly things have turned south for the Terra ecosystem. “Even if it happened in slow motion, even if it was something like a bank walk, it was more about this thing not being solvent,” Zhou said on CoinDesk TV’s “First Mover.”
But in the end it was inevitable, according to Zhou, who added that the “mechanism was flawed, and it didn’t play out as expected.”
In the aftermath, Terra has extended a proposal to its users that would burn 1 billion UST (more than $690 million) to save the stablecoin using the community’s UST. It said it would also increase the circulation of LUNA, which supports UST, to 100 million tokens, in an effort to push UST back to $1.
Financial firms including BlackRock (BLK) and Gemini arequashing conspiracy theoriesthat the firms were involved in the collapse of UST. On social media, the companies said they don’t trade UST.
Zhou underscored the sentiment, and pointed to problems with compliance as to why the financial firms would not be able to touch these kinds of assets.
While the markets have been in flux due to UST’s collapse, millions of hundreds of people have been affected. “A lot of people have lost their homes, tons of money and maybe their life savings,” Zhou said.
Sentiment around the Terra ecosystem will further worsen, Zhou added, in part because it's “not even just the mechanical death spiral, but also a psychological one.”
Looking back, the red flags were there, when founderDo Kwonpurchased massive amounts of bitcoin (BTC) and began taking in millions of dollars from investors. Though it may not have been a bad move, it did reveal a more important point. “It signaled to the market that they no longer believed in their own narrative,” Zhou said.
Now, as Terra looks to restore UST’s $1 peg, Zhou said it's possible it may be able to do so, but not guaranteed. He noted that Terra should have revalued its currency earlier on and allowed users to take a massive haircut, which may have relieved some of the selling pressure on LUNA.
But at this point, “we’re just undergoing hyperinflation of LUNA in order to support the exit of UST, and now we have to just let it happen.”
Terra’s proposal is good, but not good enough, according to Zhou. “At the end of the day, all of this bad debt has to get flushed out and we’re still in the early innings of that,” Zhou said.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21085.88, 21231.66, 21502.34, 21027.29, 20735.48, 20280.63, 20104.02, 19784.73, 19269.37, 19242.26
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Apple Sued Over Not Taking Down Telegram After Capitol Hill Riot: Apple Inc.(NASDAQ:AAPL) has been sued in California over allegations it failed to take action against messaging app Telegram in the aftermath of the Capitol Hill riot even as the platform was used to promote violence.
What Happened:The Coalition for a Safer Web, a Washington D.C.-based non-profit organization, filed thelawsuitagainst Apple in the United States District Court for the Northern District of California on Sunday.
The group alleges that “Telegram is being used to intimidate, threaten, and coerce members of the public,” and Apple — despite reportedly having this knowledge — lets Telegram be available through the App Store on its devices.
The lawsuit further alleges that not only was Telegram used to promote violence during the storming of Capitol Hill by outgoing President Donald Trump’s supporters earlier this month, also “for years, anti-black and anti-Semitic groups have openly utilized Telegram with little or no content moderation by Telegram’s management.”
“Apple has not taken any action against Telegram comparable to the action it has taken against Parler to compel Telegram to improve its content moderation policies.” CSW claims.
Why It Matters:Telegram CEO Pavel Durov, in a statement late Monday, thanked “everyone who reported public channels that crossed the line” in the recent weeks, without mentioning the lawsuit.
“Telegram welcomes peaceful debate and protest, but our Terms of Service explicitly prohibit distributing public calls to violence,” Durov said.
“In the last 7 years, we’ve consistently enforced this rule globally, from Belarus and Iran to Thailand and Hong Kong.”
Apple, alongsideAlphabet Inc.(NASDAQ:GOOGL) (NASDAQ:GOOG) withdrew social media app Parler from their platforms over similar allegations of promoting violence during the Capitol Hill riot.Amazon.com Inc.(NASDAQ:AMZN) toowithdrewhosting support, effectively forcing Parler to go offline,at least temporarily.
Telegram, alongside rival privacy-focused messaging app Signal, has seen a surge in downloads owing toFacebook Inc.'s(NASDAQ:FB) WhatsApp'snew proposedprivacy policy.
Price Action:Apple shares closed 1.37% lower at $127.14 on Friday.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New: The Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after aregulatory warningto local banking institutions on Friday sentshockwavesthrough social media.
In Sunday’s statement, the CBN said Friday’s letter was only a reminder that cryptocurrencies were not legal tender in Nigeria and was reiterating a position the bank has held since 2017, not imposing new restrictions on the industry.
“It is important to clarify that the CBN circular of Feb. 5, 2021, did not place any new restrictions on cryptocurrencies, given that all banks in the country had earlier been forbidden, through CBN’s circular dated Jan. 12, 2017, not to use, hold, trade and/or transact in cryptocurrencies,” the statement said.
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The CBN sent aletterto local financial institutions on Friday, ordering them to shut down all bank accounts associated with cryptocurrency trading platforms. In response to the letter, crypto trading platformBinanceand local electronic payment apps likeBundlehalted deposits. Angered Nigerian crypto userstook to Twitterand other social media platforms to express their displeasure.
Read more:Binance Suspends Deposits in Nigeria Following Central Bank Directive
The press statement, signed by Osita Nwanisobi, Ag. director of Corporate Communications, goes on to list other countries that have banned its banks from dealing in cryptocurrencies and makes the claim that in China, “cryptocurrencies are completely banned and all exchanges closed as well.”
While China has imposed anumber of restrictionson crypto exchanges and users, it has not outright bannedcryptocurrencies entirely.
Related:CME Launches Ethereum Futures Trading
It also states that cryptocurrencies are issued by “unregulated and unlicensed” entities, and that crypto assets are volatile speculative assets that can be a danger to Nigerian users.
“The very name and nature of ‘cryptocurrencies’ suggests that its patrons and users value anonymity, obscurity, and concealment,” the statement said.
In the letter, the CBN assured that this stance will not inhibit the progress of the fintech sector in the country, or its payments ecosystems. The directive became necessary, it said, to protect Nigerians, including its youths from the risks inherent in crypto assets transactions.
“Due to the fact that cryptocurrencies are largely speculative, anonymous and untraceable they are increasingly being used for money laundering, terrorism financing and other criminal activities,” the statement said.
Read more:XRP Posted Biggest Single-Day Gain in 3 Years in a Coordinated Buying Attack
The letter also stated the high volatility inherent in crypto assets posed a great threat to “small retail and unsophisticated investors” who stand to lose a lot.
“In light of these realities and analyses, the CBN has no comfort in cryptocurrencies at this time. It will continue to do all within its regulatory powers to educate Nigerians to desist from its use and protect our financial system from activities of fraudsters and speculators,” the statement said.
Read CBN’s full statement below:
• Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New
• Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New || Investors Direct More Than $3 Billion to Grayscale Investments® in Q4 2020: Record-setting investments across Grayscale’s family of products reflected soaring demand and growing acceptance of digital currency asset class among financial institutions New York, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Grayscale Investments ® , the world’s largest digital currency asset manager, today released its 4Q20 Grayscale Digital Asset Report, a comprehensive look at investment activity across Grayscale’s investment products in the quarter, as well as a summary of 2020 activity for the firm. Interest in Bitcoin investment products soared in 2020, with each consecutive quarter setting a new record for the firm’s inflows. In the final quarter of 2020, Grayscale raised $3.3 billion in total, more than tripling its previous record of $1.05 billion raised in 3Q20. Notably, Grayscale raised nearly $1 billion in the last week of December before the quarter closed. In 2020, Grayscale raised more than $5.7 billion across its family of investment products, more than four times the $1.2 billion cumulative inflows the firm received from its inception in 2013 through the end of 2019. While the firm began 2020 with $2.0 billion in assets under management, it now holds more than $24.7 billion in assets as of January 13, 2021, making it one of the fastest growing asset managers of all time. Institutional investors participated meaningfully in 4Q20, with 93% of capital inflows to Grayscale’s products coming from this segment of investors, encouraged by announcements from major corporations and influential investors supporting the asset class. Traditionally, this cohort comprised about 80% of Grayscale’s investor mix. The average commitment of institutions also rose dramatically, from an average of $2.9 million in 3Q20 to $6.8 million in 4Q20. Continuing past trends, Grayscale ® Bitcoin Trust led investment demand with inflows of $2.8 billion in 4Q20. Demand for other Grayscale products reached record levels as well, up nearly 1,300% compared to 4Q19. In 2020, investors allocated $1.0 billion to products other than Grayscale Bitcoin Trust. The leader in this trend was Grayscale ® Ethereum Trust, which saw $341.8 million in 4Q20 inflows, and $789.4 million across 2020. Story continues To read the entire 4Q20 Grayscale Digital Asset Investment Report, visit: https://gryscl.co/3qjAaaN Grayscale's investment products are available to institutional and individual accredited investors through their respective periodic and ongoing private placements. Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), and Zcash (ZEC). Additionally, Grayscale’s diversified investment product, Grayscale ® Digital Large Cap Fund, provides exposure to the top digital currencies by market capitalization. Additionally, secondary markets exist for six of Grayscale’s products as Grayscale ® Bitcoin Trust (OTCQX: GBTC ), Grayscale ® Bitcoin Cash Trust (OTCQX: BCHG ), Grayscale ® Ethereum Trust (OTCQX: ETHE ), Grayscale ® Ethereum Classic Trust (OTCQX: ETCG ), Grayscale ® Litecoin Trust (OTCQX: LTCN ) and Grayscale ® Digital Large Cap Fund (OTCQX: GDLC ) are publicly-quoted and available to all individual and institutional investors on the OTCQX ® Best Market and other OTC Markets.* *Each Product offers a private placement to accredited investors. The investment objective of each Product is for its Shares (based on digital assets per Share) to reflect the value of digital assets held by such Product, less such Product’s expenses and other liabilities. Because each Product does not currently operate a redemption program, there can be no assurance that the value of such Product’s Shares will reflect the value of the assets held by such Product, less such Product’s expenses and other liabilities, and the Shares of such Product, if traded on any secondary market, may trade at a substantial premium over, or a substantial discount to, the value of the assets held by such Product, less such Product’s expenses and other liabilities, and such Product may be unable to meet its investment objective. This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Grayscale Investments ® Grayscale Investments is the world’s largest digital currency asset manager, with more than $24.7B in assets under management as of January 13, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit www.grayscale.co and follow @Grayscale . CONTACT: [email protected] || Bitcoin Falls 5% Despite Continued Accumulation by Investors: Investors continuing to buy bitcoin didnt stop the top cryptocurrency by market value from slipping by over $2,600 on Wednesday. Bitcoin fell from $36,000 to $34,000 this morning (UTC time) and was last seen changing hands near $34,300, representing a 5% drop on the day, according to CoinDesk 20 data . The price drop comes a day after U.S. Treasury Secretary nominee Janet Yellen suggested lawmakers curtail the use of cryptocurrencies amid terrorism concerns. I think many [cryptocurrencies] are used, at least in transactions sense, mainly for illicit financing and I think we really need to examine ways in which we can curtail their use and make sure that anti-money laundering doesnt occur through those channels, Yellen said Tuesday. Related: Market Wrap: Bitcoin Drops Briefly Below $33.5K While Ether Calls Dominate Options While the cryptocurrency is down, its still within a week-long narrowing price range, as seen on the chart below. A move below the lower end of the triangle would expose support at $30,000. Strength in the Dollar Index (DXY), which tracks the greenbacks value against other major currencies, and regulatory concerns could trigger a bitcoin range breakdown. The DXYs performance has had a big influence on bitcoins price since the March crash. At press time, the DXY is flat-lined near 90.50. The odds, however, appear stacked against a notable price drop, as bitcoin investors remain undeterred by the bull markets pause and continue to boost their holdings. The number of addresses holding at least 1,000 BTC has risen from 2,407 to a new lifetime high of 2,438 in the past seven days, according to data source Glassnode. The rise does not necessarily imply the same growth in the number of investors, as a single person or entity can hold multiple addresses. Related: Bitcoin Sells Off on Bearish Sentiment, Yellen Worries Meanwhile, the number of bitcoins locked up in accumulation addresses has gone up by 30,000 to 2,739,166 BTC in the past week. Accumulation addresses are those that have at least two incoming non-dust transfers and have never spent funds. Dust refers to insignificantly tiny amounts of the digital asset. Story continues The metric does not include addresses belonging to miners and exchanges, and excludes addresses last active more than seven years ago to adjust for lost coins. Lastly, Grayscale Bitcoin Trust (GBTC), the biggest publicly traded crypto investment trust, purchased a total of 16,244 BTC ($607 million) on Monday, sucking out significantly more supply from the market than miners had added. Also read: Bitcoin Becomes Most-Crowded Trade After Passing Long Tech: Bank of America Survey Grayscales inflows aided the price rally from $15,000 to over $41,000 seen in the past three months and are pivotal for bull market continuation, according to JPMorgan. Grayscale is owned by Digital Currency Group, CoinDesks parent company. It remains to be seen if persistent buying from large investors translates into a quick recovery. A breakout from the narrowing price range would imply a continuation of the bull run and open the doors for the psychological hurdle of $50,000. Related Stories Bitcoin Falls 5% Despite Continued Accumulation by Investors Bitcoin Falls 5% Despite Continued Accumulation by Investors || How Much Bitcoin Should I Own? A Mathematical Answer: Many of us have followed the dramatic rises and precipitous falls of bitcoin, and cryptocurrencies in general, over the past few years. Some may have written them off entirely after 80% declines in 2018, only to see them roar back into investors’ collective consciousness in 2020. Certainly sentiment has shifted over a short two years — more institutional investors are taking a hard look at crypto, and previous naysayers have softened their views. This all leads to one question: How much cryptocurrency should I own? Math to the rescue It goes without saying that this is a hard question to answer. But we can borrow a page from modern quantitative finance to help us arrive at a potential answer. For years, Wall Street “quants” have used a mathematical framework to manage their portfolios called the Black-Litterman model. Yes, the “Black” here is the same one from the famous Black-Scholes options pricing formula , Fischer Black. And “Litterman” is Robert Litterman, a longtime Goldman Sachs quant. SEE MORE The 2021 Outlook for Bitcoin Prices, Adoption and Risks Without getting into too much detail, the model starts with a neutral, “equilibrium” portfolio and provides a mathematical formula for increasing your holdings based on your view of the world. What’s amazing is that it incorporates not just your estimate about how an investment might grow, but also your confidence in that estimate, and translates those inputs into a specific portfolio allocation. Your starting point: 0.50% The Black-Litterman model uses the global market portfolio, meaning all the asset holdings in the world, as its starting point for building a portfolio. This means that, if you don’t have any other views on what investments might perform better or worse, this is the portfolio you should consider holding. In early 2021, the global market for stocks totaled $95 trillion and the global bonds market reached $105 trillion. The cryptocurrency market as a whole was valued at roughly $1 trillion. This means that cryptocurrency represents 0.5% of the global market portfolio. Story continues A pie chart shows bonds making up 52.5% of a portfolio, stocks 47% and cryptocurrencies 0.5%. Just as there are plenty of arguments to hold more cryptocurrency, there are also many arguments to hold less. However, from the model’s standpoint 0.5% should be your starting allocation. Now add your views This is where the mathematical magic comes into play. For any given growth rate in cryptocurrency (or any investment for that matter), the Black-Litterman model will return the amount you should hold in your portfolio. What’s more, you can specify your level of conviction in that assumed growth rate and the model will adjust accordingly. SEE MORE 8 Top Bitcoin, Cryptocurrency and Blockchain Stocks In the below chart are the portfolio allocations to bitcoin derived from the Black-Litterman model. This chart can serve as a useful guideline when thinking about how much cryptocurrency you might want to hold. How to use it: Select how much you think bitcoin will overperform stocks, from +5% to +40%. Each return expectation corresponds to a line on the chart. For example, if you think that bitcoin will outperform stocks by 20%, this corresponds to the purple line. Now, follow the line left or right based on how confident you are. If you’re at least 75% confident (a solid “probably”), the purple lines up with a 4% allocation to bitcoin. A line graph shows how much weight cryptocurrencies should have -- ranging from 0% to 10% -- based on whether you think they'll outperform the broader market by 5%, 10%, 20%, 30% or 40%. One of the most interesting things to note is how high your return estimate needs to be and how confident you need to be in order to take a sizable position in bitcoin. For example, for the model to tell you to hold a 10% allocation you need to be highly confident that bitcoin will outperform stocks by 40% each year. Also of note, it does not take much to drive the model’s allocation to 0% allocation, i.e., no crypto holdings. If you don’t think that there’s a 50/50 chance that bitcoin will at least slightly outperform, the model says to avoid it entirely. How we got here The inputs to the Black-Litterman model tell an interesting story in and of themselves. The main inputs into the model are global market caps, asset volatility and the correlation between assets. It goes without saying that cryptocurrencies are risky. Over the last five years, bitcoin’s volatility was six times that of stocks and 30 times that of bonds. At its worst, the digital coin saw an 80% drop in value, while stocks were down 20%. Other cryptocurrencies fared even worse. Graph charts the performance of stocks vs. bitcoin since December 2015, showing bitcoin has seen much greater drops along the way. If an asset is volatile, and one is not able to diversify that volatility away, then investors will require a higher rate of return on that investment, otherwise they will choose not to invest. The fact that bitcoin is so volatile, but has such a small number of investors (relative to stocks or bonds) suggests that many investors still do not see the potential returns worth the risks. On the other hand, cryptocurrencies are at their core a new technology, and new technologies always have an adoption curve. The story here may be less about expected return versus risk and more about early adoption versus mass appeal. The final ingredient in the model is bitcoin’s correlation with stocks and bonds. Below you can see that bitcoin has some correlation with both stocks and bonds, meaning that when stocks go up (or down), bitcoin may do so as well. The lower the correlation, the greater the diversification an asset provides to your portfolio. Bonds have a low correlation with stocks (1.5%), which makes them a good ballast against turbulent markets. Bitcoin’s correlation is higher (23.7%), meaning that it can provide some diversification benefit to a portfolio, but not to the same degree as bonds. Correlation heatmap Block graph shows that bonds have a low correlation with stocks (1.5%). Bitcoin’s correlation is higher (23.7%). While we aren’t able to tell you if bitcoin will be the next digital gold, this mathematical model can help you think about what kind of allocation to crypto might be appropriate for you and what assumptions about risk and return might be underlying it. SEE MORE Are You Gambling or Investing? Here’s How to Tell || Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty: Sovryn, a bitcoin-based DeFi protocol, is offering a $1.2 million bug bounty after raising $10 million in a token presale.
• The London-based project raised the funds inbitcointhrough the presale of its governance token SOV at a price of 9,736 satoshis (the smallest BTC unit, equivalent to a 100 millionth of a bitcoin) per token.
• The total digital assetsSovrynhas raised now stands at $16 million, according to an announcement shared with CoinDesk.
• The funds will partly be invested in the protocol’s bug bounty program, now offering white hat hackers up to $1.25 million if they can spot critical flaws in the Sovryn smart contract.
• Sovryn claims bounty, offered in partnership with bug bounty platform Immunefi, is the largest ever.
• Immunefi co-founder Travin Keith believes the program will “incentivize white hats to look through the code as well as incentivizing black hats to disclose bugs, instead of exploiting them.”
• The platform’s page for the bounty states: “The final reward amount is capped at 10% of the funds at risk based on the vulnerability reported.”
• The bounty would be paid out in bitcoin or the SOV token.
See also:DeFi Project ArmorFi Awards $1.5M Bounty for Bug Alert That Potentially Saved Its Reserves
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty
• Bitcoin-Based DeFi Protocol Sovryn Raises $10M, Offers $1.2M Bug Bounty || Nasdaq, S&P 500 gain on tech stocks, hopes for more stimulus: By Herbert Lash NEW YORK (Reuters) - The Nasdaq and S&P 500 eked out modest gains on Thursday with investors betting on more fiscal stimulus, but U.S. President Joe Biden said China was poised to "eat our lunch," a warning that tempered enthusiasm for a market near record highs. Nvidia Corp rose 3.2% and Intel Corp 3.1%, making technology the leading sector to gain on the S&P 500 and Nasdaq. Declining shares outnumbered gainers on the Nasdaq and New York Stock Exchange. Biden told a group of U.S. senators in a meeting to discuss the need to upgrade U.S. infrastructure that the United States must raise its game in the face of the challenge from China. The warning about China and Democrat plans to include raising the minimum wage to $15 in a $1.9 trillion stimulus package showed headwinds for investors could be on the rise, said Ed Moya, senior market analyst at OANDA in New York. "Markets are starting to get a little bit nervous over the relations between the West and China," Moya said. Biden's first call late Wednesday with China's President Xi Jinping "resurfaced all of the difficulties that we're going to face this year in addition to the pandemic," he said. The Democrats also are not in agreement on where they stand on the minimum wage, he said. "This is dragging out stimulus talks." Mastercard rose 2.6% after the credit-card company said it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support. Bank of New York Mellon advanced 0.9% after saying it had formed a new unit to help clients hold, transfer and issue digital assets, sending Bitcoin to an all-time high of $48,696. The number of Americans filing new applications for unemployment benefits were 793,000 last week, compared to 812,000 in the prior week, but they are well below the record 6.867 million reported last March when the pandemic hit the United States. Wall Street's main indexes have hit record highs recently on prospects of the $1.9 trillion relief bill that aims to jump start the U.S. economy, while a largely better-than-expected earnings season also has bolstered sentiment. Story continues Analysts now expect fourth-quarter earnings for S&P 500 firms to grow 3%, versus a 10.3% decline forecast at the beginning of January, per Refinitiv data. Stocks are trading with high multiples, raising fears the market is overvalued. "The market is certainly fairly valued. I don't see the overall market as horribly overvalued," said David Trainer, chief executive of New Constructs, a research firm in Nashville, Tennessee "There are pockets of stocks, we call them micro bubbles, that are extremely overvalued." The tech sector and semiconductors hit record highs, while economy-linked energy and industrials took a back seat after being in the spotlight this year. The S&P 500 gained 6.5 points, or 0.17%, to 3,916.38 and the Nasdaq Composite added 53.24 points, or 0.38%, to 14,025.77. The Dow Jones Industrial Average fell 7.1 points, or 0.02%, to 31,430.7. Volume on U.S. exchanges was 17.69 billion shares, compared with the 15.96 billion average for the full session over the last 20 trading days. ​ U.S.-listed shares of cannabis companies, including Tilray and Aphria, reversed premarket gains to drop 49.7% and 35.8% after the sector caught the attention of Reddit-inspired retail investors this week. Walt Disney Co rose 0.7% ahead of its results after market close. Pinterest Inc rallied 7.3% after a report said Microsoft Corp approached the image-sharing company in recent months about a potential buyout. However, the negotiations were currently not active, the report said. Declining issues outnumbered advancing ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored decliners. The S&P 500 posted 45 new 52-week highs and no new lows; the Nasdaq Composite recorded 292 new highs and nine new lows. (Corrects to say technology was the leading sector to gain in paragraph 2, deletes it was the only sector to gain) (Reporting by Herbert Lash, additional reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Maju Samuel and Diane Craft) || Sprott (SII) Enters Overbought Territory: Sprott Inc.SII has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because SII is now in overbought territory with an RSI value of 70.84.
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Yet SII’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions Sprott’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of SII’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for SII’s has also been on a downward trend over the same time period too, as the estimates have fallen 13.7% over the last two months.
If this wasn’t enough, Sprott also has a Zacks Rank #5 (Strong Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSprott Inc. (SII) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M: MicroStrategy has adjusted its latest planned convertible senior note sale to $900 million, adding $300 million to the novel debt issuance model it now semi-regularly employs in order to raise funds to, you guessed it, buy more bitcoin.
• The business intelligence companyreaffirmedWednesday that it intends to pour the net proceeds of this debt sale intobitcoinbuys, perhaps its biggest single dollar-denominated allocation yet.
• MicroStrategy only yesterday announced the latest offering would seek to raise$600 million.
• MSTR’s pro-bitcoin CEO, Michael Saylor, has mandated his company follow two distinct business models: 1) develop business intelligence software, 2) buy more bitcoin.
• The firm has bought 70,784 bitcoin so far, an amount now worth around $3.6 billion. It projects the net proceeds of this sale to come in around $879 million.
See also:MicroStrategy Begins Hiring for Bitcoin Data Product
• MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M
• MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M
• MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M
• MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M || Albemarle (ALB) to Sell Fine Chemistry Business to W.R. Grace: Albemarle CorporationALB recently signed a definitive agreement with W.R. Grace & Co. to sell its Fine Chemistry Services business for roughly $570 million. The price consists of $300 million in cash and the issuance of preferred equity worth $270 million of a W.R. Grace & Co. Subsidiary to Albemarle.
As per the deal, Grace will acquire Albemarle’s operations in Tyrone, PA and South Haven, MI. The deal is subject to regulatory approvals and other customary closing conditions. The transaction is expected to be completed in the second quarter of 2021.
BofA Securities is playing the role of exclusive financial advisor to Albemarle and Troutman Pepper Hamilton Sanders LLP is serving as legal advisor.
The deal reflects Albemarle’s ongoing commitment to actively and continuously refine its portfolio with focus on its core, growth-oriented business segments. Fine Chemistry Services is a profitable business and the company believes that Grace can help it thrive.
Shares of Albemarle have surged 78.2% in the past year compared with 37.3% rally of the industry.
Albemarle expects its performance for full-year 2021 to increase modestly on a year-over-year basis on a sustained recovery in global economic activities.
The company expects net sales for 2021 between $3.2 billion and $3.3 billion. Moreover, adjusted EBITDA for the year has been projected in the range of $810-$860 million. Albemarle also sees adjusted earnings per share in the band of $3.25-$3.65 for 2021.
Albemarle also realized around $80 million of sustainable cost savings in 2020. It expects sustainable cost savings to reach a run-rate of more than $120 million by 2021.
Albemarle Corporation price-consensus-chart | Albemarle Corporation Quote
Albemarle currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space includeFortescue Metals GroupLimitedFSUGY,BHP GroupBHP andImpala Platinum Holdings LimitedIMPUY.
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 186.3% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
BHP has an expected earnings growth rate of 69.2% for the current fiscal. The company’s shares have gained 75% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 186.9% for the current fiscal. The company’s shares have rallied around 108.6% in the past year. It currently carries a Zacks Rank #1.
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportBHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis ReportImpala Platinum Holdings Ltd. (IMPUY) : Free Stock Analysis ReportAlbemarle Corporation (ALB) : Free Stock Analysis ReportFortescue Metals Group Ltd. (FSUGY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-05-01]
BTC Price: 232.08, BTC RSI: 48.51
Gold Price: 1174.50, Gold RSI: 43.07
Oil Price: 59.15, Oil RSI: 66.40
[Random Sample of News (last 60 days)]
AuthentaTrade Appoints CEO Gwyn Jones and CFO David Goh: NEW YORK, NY / ACCESSWIRE / March 16, 2015 /Costas, Inc. (OTC Pink: CSSI) (CSSI) Costas, Inc. (CSSI) and AuthentaTrade, Inc. (the Company) are pleased to announce that they have appointed a new CEO and CFO to lead AuthentaTrade forward as it transitions into one of the first ever fully licensed FOREX companies to handle Bitcoin currency transactions.
Outgoing AuthentaTrade CEO Kenny Kan has resigned his position effective immediately and will take a position on the Board of Directors of AuthentaTrade.
"I'm very proud and excited to announce that we have appointed Gwyn Jones as CEO and David Goh as CFO," said Kan. "These are two very qualified individuals who possess the experience necessary to guide the Company through this transitionary period. With Jones and Goh at the helm, I have full confidence that we will build upon our existing team, raise the necessary financing, then deploy the products that bring efficiency to the market."
Gwyn Jones has been a founder and champion of many innovative, scalable products with millions of users. He co-founded both VistaPrint and Serif. Serif is a publisher of award-winning low-cost publishing and graphics applications; including PagePlus, the UK's best-selling DTP product for many years. Vistaprint is a ground-breaking online printing platform that went on to become a market leader with multi-billion dollar NASDAQ listing.
Mr Jones stated, "I'm honored to have been given the opportunity to lead AuthentaTrade at this critical juncture in the Companies journey. Digital currencies, such as Bitcoin, are literally about to transform how the world uses and accesses money on a daily basis. This isn't the first time something of this magnitude has happened in the ascent of money, but it's the first time that technology has been the catalyst of change. With our products, we can lead millions of people around the world into a more financially secure and transparent future."
As the appointed Chief Financial Officer, Mr. Goh will be accountable for the administrative, financial and risk management operations of the Company. Mr. Goh is a Member of the Certified Public Accountants of Australia, and has spent the last 20 years in public accounting covering a wide range of industries across Asia, Europe and the United States. He started his career with Ernst & Young before spending the balance of his early career with GE Energy as the Asia Pacific Division's Head of Financial Planning and Analysis. Mr. Goh currently runs his own consultancy business assisting startups and established companies set up their operations in Singapore. He is well versed in both the legal and accounting practices required to list companies on stock exchanges throughout the world. Developing risk management strategies, M&A agreements and efficient tax structures on an international level will assist AuthentaTrade in its endeavors.
About AuthentaTrade:
AuthentaTrade, Inc. (A) is poised and committed to becoming the leader in the burgeoning digital currency financial landscape. Our revolutionary FOREX and derivatives exchange products will provide the flexibility and efficiency this market desperately needs.
AuthentaTrade's goal is to help stabilize the digital currency market by providing bank-level system architecture and security for depositors; also by introducing market liquidity where it has never previously existed.
About Costas, Inc.:
Costas, Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties.
Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision.
The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
CONTACT:
Costas, Inc.
Ashley Sansalone, [email protected]://www.costasinc.com/
AuthentaTrade, Inc.
Gwyn Jones, [email protected]/1 415 799 767139 Castella Court 2Piale Pasia, 5th Floor, Suite 254Larnaca 6028Cypress
SOURCE:Costas, Inc. || Bitcoin Company Raises Record Amount Of Cash For Mystery Operations: A bitcoin-based business called21 Inchas raised $116 million in venture funding, the largest sum raised by a digital currency startup.
However, it is still unknown just how the company will use its record-breaking sum as 21 Inc. has kept its operations quiet so far.
21 Pledges To Spur On Bitcoin Adoption
Big names likeQUALCOMM, Inc.(NASDAQ:QCOM) andPayPal'sPeter Thiel were among the investors backing 21 Inc., with the company promising to help push bitcoin adoption into the mainstream.
Chef Executive and 21's co-founder Matthew Pauker mysteriously told TheWall Street Journalthat the public can expect some "interesting developments" over the couples of weeks and months that will "drive mainstream adoption of bitcoin" through hardware and software products.
Blockchain And The Internet Of Things
Chipmaker Qualcomm's involvement has sparked speculation that 21 Inc. is looking to use the blockchain technology that powers bitcoin in order to break into the "Internet of Things."
The growing popularity of everyday devices that link to the internet and communicate with users and each other could serve as a perfect access point for bitcoin. Many see the currency's ledger-like blockchain technology eventually integrating into smart devices and creating a secure way to transmit data from one device to another.
Related Link:Bitcoin An Unlikely Solution For The Poor
Growing Interest In Digital Currency
21 Inc.'s funding demonstrates venture capitalists' shifting views on digital currency. Several other companies includingCoinbaseandBitGo Inc.have been able to introduce bitcoin-based businesses due to a growing interest in digital currency firms in Silicon Valley.
Though the new ventures make bitcoin more accessible to the public, there is still a lack of trust and understanding keeping the cryptocurrency from gaining popularity.
For that reason, many believe that firms which focus more on new uses for blockchain technology could be the future for bitcoin adoption.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin An Unlikely Solution For The Poor: So far, bitcoin has caught on among tech-savvy enthusiasts; but many see the cryptocurrency as a viable solution for the poor, who often don't have access to banking facilities. While some bitcoin firms are continuing their efforts to push the cryptocurrency toward mainstream adoption, others are turning to nations with a large population of bankless-people that would benefit from a new way to send and receive money. Bitcoin In Africa Africa has become a major target for bitcoin companies looking to focus their adoption efforts on poor populations without easy access to banking. Many currently rely on companies like Western Union (NYSE: WU ), which charge a significant premium, to send and receive money, making bitcoin's relatively cheap transaction costs very attractive. Related Link: Bitcoin Makes Its Way To A Major Exchange Sending Money Home Carries Costs In 2014, more than 30 million Africans left their hometowns in order to work and sent around $40 billion back to their families. Since money sending agencies charge about 12 percent of the total amount sent, that means much of their hard-earned cash was spent on the transaction costs alone. Those figures make bitcoin a viable competitor and could help boost the currency's adoption. Filling The Gap Several firms are focusing their attention on the unmet banking needs in Africa using bitcoin. Global payment company BitPesa recently raised just over $1 million in order to expand its operations into Kenya, while bitcoin exchange igot saw more than 200,000 transactions in Africa throughout 2014. Still Some Concerns Although bitcoin's low transaction costs make it a good option for African populations without access to banking systems, the cryptocurrency still has a long way to go before becoming stable enough to depend on. Because of its high degree of volatility, critics say bitcoin is far too unstable for use in poor populations. See more from Benzinga Is The Euro's Decline A Good Reason To Invest? Oil Train Derailments Muddy Railroad Sector Earnings Marijuana Investment: Is It Time? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin alternative in 'pyramid scheme' storm: The founders of a new digital currency, known as LEOCoin, have hit back at reports published over the weekend linking them with a suspected pyramid scheme back in 2012.
Last week, U.K.-based Learning Enterprises Organisation (LEO) unveiled a trading platform in Hong Kong for its cryptocurrency called LEOCoin, which the company is promoting as an alternative to more popular digital currencies like bitcoin(: BTC=).
At a London launch the previous week, LEO boasted that it had already promoted the product to its current client base, claiming it meant over 100,000 entrepreneurs were already actively using the cryptocurrency in anticipation of its official trading debut, with around 30,000 merchants already signed up.
It also claimed this made it the "second largest digital currency" in the world, second to bitcoin, but has been slammed by reports on industry websites in the last week. Joel Dalais, a virtual currency entrepreneur and the director of bitcoin exchange IBWT, said oncryptocoinsnews.comthat LEOCoin was a "good example of what a pump and dump coin looks like." He also dismissed its claims of its sizeable usage as "bulls*t."
Read MoreBitcoin gets a rival-how will it fare?
An article by another industry website, calledCoinDesk, delved into the history of project founders Dan Anderson and Atif Kamran and said that both were caught up in a controversy surrounding a suspected pyramid scheme, called UNAICO Pakistan, that was warned by the Securities & Exchange Commission of Pakistan in 2012.
Published online, the report by the Pakistani SEC said it had received various complaints from the public claiming that UNAICO was a pyramid scheme. The letter, dated April 2012, concludes that the company's activities did "broadly fall" within the definition of "fraudulent activities" and gave a recommendation to shut down the firm.
LEO's Dan Anderson is named as being the CEO of UNAICO at the time and Atif Kamran was also linked to the company through Sitetalk, a social community platform that is described as a "sister concern" by the Pakistani commission.
A pyramid scheme is usually described as a program whereby participants try to make money by recruiting new members to the scheme before the program collapses and some members lose money. The CoinDesk article quotes an expert witness in the prosecution of pyramid schemes, William Keep, as saying that some of LEO's business model does raise questions, in particular highlighting that it provides incentives for users to recruit others.
LEO, meanwhile, has strongly refuted these claims telling CNBC via email that they were "completely untrue."
"Dan Anderson and Atif Kamran have never been involved in any sort of scam and the comments about them have misunderstood the facts entirely," a spokesperson for LEO said in the emailed statement.
Both resigned from UNAICO and Sitetalk after disagreeing about the direction the business was taking, according to the statement, which said that they had also ensured reimbursements for those that lost money. They have been officially discharged of all liabilities and cooperated fully with authorities in all of these matters, the spokesperson added.
The company also aimed to cool talk that it was artificially inflating its user base. At the event in London in March, LEO conceded that the cryptocurrency was targeted more at small and medium-sized businesses - especially in emerging economies - rather than the large conglomerates that have started to accept bitcoin.
A few examples of merchants revealed to CNBC that used LEOCoin were a Pakistani company called Capital Motors, a financial services firm in Slovenia called Profitus Skupina and a German-based energy efficiency services firm called Transformer.
A U.K.-based equine sports massage company called Happy Horse World is also on its roster as well as Strel Swimming, a U.K. based online company that organizes swimming tours around Europe. Borut Strel, a director at Strel, told CNBC via telephone that the company had only seen between 10 and 15 transactions made using the cryptocurrency, but predicted the sector as a whole was on the verge of a "new era."
The more popular bitcoin is a "virtual" currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. A plethora of so-called "altcoins," or alternative coins, have sprung up alongside bitcoin. Dogecoin, which was initially started as a joke in 2013 and is based on an internet meme, is still the sixth largest digital currency in terms of market capitalization, according to coinmarketcap.com.
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• CNBC.com Earnings Central || Charities Are Turning To Bitcoin: A black cloud of skepticism has hung over bitcoin for the past year after several high-profile cases made the cryptocurrency out to be a criminal tool used for illicit purchases and scamming.
However, as more and more merchants begin to adopt the cryptocurrency, many expect that it is heading toward mainstream adoption. With that in mind, several charities have opened their minds, and bank accounts, to accepting bitcoin.
The Benefit Of Bitcoin
Many charities like Save the Children, the American Red Cross, and Greenpeacehave started acceptingbitcoin donations. For them, it opens up a new market of donors who otherwise may not have given as much or even at all.
Because bitcoin's transaction fees are much lower than those of credit and debit cards, donors can be sure that the charity is receiving the maximum benefit.
Payments processor BitPay is a popular choice for charitable organizations as the company doesn't charge any merchant fee for non-profits and gives 100 percent of the donation to the charity.
A New Image
Some charities are hoping that bitcoin will revamp their images. By accepting bitcoin, charities are able to expose themselves to new, often younger, audiences and make their cause more accessible.
For the moment, bitcoin donations typically make up only a small fraction of what charities bring in; but for many, establishing a bitcoin based donation option is important to propel the organization into the future.
Related Link:Orange: The Latest Company To See Benefit In Blockchain
Better For Donors
Charities aren't the only ones who benefit from bitcoin donations. Many donors have found bitcoin to be aneffective wayto receive the maximum tax benefit for a charitable contribution.
Because bitcoin is taxed as property instead of currency, donors can give bitcoins that have appreciated in value without paying capital gains taxes.
The laws are similar to those governing the donation of stocks, making it a great way to make the most of tax deductions.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Shop, Inc. Acquires Additional Equity Interest in Coin Outlet: ARLINGTON, VA--(Marketwired - Mar 26, 2015) - Bitcoin Shop, Inc. (OTCQB:BTCS) ("BTCS" or the "Company"), which is undertaking the build-out of a universal digital currency ecosystem, announced today that the Company has acquired an additional 2% equity ownership in Coin Outlet from Eric Grill, Coin Outlet's CEO, for 701,966 shares of the Company's common stock. BTCS now owns approximately 4.2% of Coin Outlet's equity and has the ability to own up to 11% upon exercise of its previously issued option and warrant.
BTCS CEO Charles Allen commented, "Today we are pleased to announce our additional ownership interest in, and partnership with, Coin Outlet. Their ATMs should allow consumers to exchange fiat currency for bitcoins through one fundamental and easy-to-use transaction. Additionally, with the help of Coin Outlet, we plan to leverage their ATM network as another on-ramp to our planned universal digital currency ecosystem."
Eric Grill, Chief Executive Officer of Coin Outlet, commented, "Together we are focused on driving bitcoin and digital currency adoption through a systematic roll out of ATMs across key cities from coast to coast. The partnership with BTCS encompasses the perfect collaboration of resources and technology."
About BTCS:BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. The Company currently operates its public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. Customers can access competitive pricing options from 256 retailers through BTCS's "Intelligent Shopping Engine." All ecommerce customer orders are fulfilled by third party vendors. The Company plans to use its ecommerce platform as a customer on-ramp for a broader digital currency platform. BTCS actively partners with strategic digital currency companies who have technologies, services or products that are complementary to its business strategy by making investments in them and integrating with them.
Forward Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Bitcoin goes mainstream with Goldman Sachs' backing: Bitcoin is getting a big boost…from Goldman Sachs (GS).
The financial juggernaut and China’s IDG Capital Partners are investing $50 million inCircle Internet Financial, a start-up that provides services to help consumers use the virtual currency. Goldman is the first major Wall Street bank to make such a big bet on bitcoin.
But as Yahoo Finance Technology Reporter Aaron Pressman points out, Goldman isn’t interested in speculating in bitcoins. It’s focusing on how bitcoin operates.
“The technology behind the scenes that enables bitcoin to work, that’s something that venture capitalists and a lot of banks have been looking at,” he says. “And maybe really will be what comes out of this.”
Get the Latest Market Data and News with the Yahoo Finance App
Yahoo Finance’s Aaron Task believes Goldman is just trying to stay one step ahead of the competition.
“Everybody around Wall Street is looking at bitcoin and trying to figure out whether they’re going to wait for the regulations or try to get ahead of the regulations and dip their toe in the water,” he explains. “And that’s what Goldman is doing.”
Task adds Goldman likely feels more and more of us will be using the virtual currency in the future…and wants to get on that bandwagon now.
There’s going to be a greater adoption of bitcoin use as a method of payment,” he says. “I think that’s its promise…and what Goldman is betting on here.”
Task believes Goldman sees bitcoin as being an attractive consumer electronic money alternative.
“Apple Pay (AAPL) doesn’t do anything for me as a consumer,” he argues. “But if I can transfer bitcoins to somebody else around the world and pay for goods and services, I think they want to be part of that process.”
And Yahoo Finance’s Jen Rogers says having Goldman associated with bitcoin is a pretty important milestone for the virtual currency.
“It does seem to add legitimacy because it’s such a big name,” she notes.
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Tim Seymour was a buyer of the TUR(NYSE Arca: TUR).
Steve Grasso was a buyer of TWTR(TWTR).
Brian Kelly was a seller of the TLT(NYSE Arca: TLT).
Guy Adami was a buyer of BX(BX).
Trader disclosure: On April 17, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long T, BAC, BX, C, DAL, DIS, F, GE, GM, GOOGL, INTC, EWP, SUNE, TWX, Tim's firm is long BABA, BIDU, CHL, IBN, MCD, NKE, NOK, SBUX, TUR, VALE.Steve Grasso is long AAPL, EVGN, MJNA, PFE, T, TWTR, GDX, BAC, BTU, his firm is long AMD, AMZN, NE, OXY, VALE, RIG his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts, he is short 30-Year Bond Futures, he is short Yuan, today he covered U.S. Dollar, today he sold Euro, today he sold EEM, today he sold GLD. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Europe Mulls U.S. Trade Partnership With Skepticism: Monday marks an important day in the development of a large-scale trade partnership between the U.S. and the EU as the proposal for the partnership is set to be reviewed in Europe. The deal, called the Transatlantic Trade and Investment Partnership (TTIP) will be scrutinized by the European Parliament on April 13, though the formal vote will not take place until May. The European Commission is responsible for negotiating the terms of the deal, but the Parliament's assessment will play a major factor in future negotiations. While the European Parliament doesn't negotiate directly with the U.S. government, it does have the power to reject the final agreement. The TTIP The TTIP would eliminate much of the red tape making trade between Europe and the U.S. challenging. It has been touted as a necessary step for both the EU and the U.S. to move their economies forward; economic output from both regions is expected to receive a $100 billion boost per year if the deal is approved. The TTIP is also expected to have a sizable impact on job creation, something Europe has been struggling with since the financial crisis. Related Link: Will Russia Help Ease Greek Debt? What's Not To Love? Many EU leaders are skeptical about the projections for how the TTIP would benefit the eurozone. German Economy Minister Sigmar Gabriel has said he is unsure as to whether or not the projections are reliable, a sentiment echoed by UK Members of Parliament. While most of Europe's policy makers are in agreement that a deal with the U.S. would be beneficial to their economies, many are worried that not enough detail about the agreement has been released and that the economic benefits have been overestimated. See more from Benzinga 2016 Presidential Race To Be A Social Media Hurricane Charities Are Turning To Bitcoin Breakfast Of Champions: Is Pot Good For You? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Solving Bitcoin's Scalability Problem: Bitcoin enthusiasts have long been working toward pushing the cryptocurrency into mainstream use to compete with paper money and credit card transactions.
However, now that new exchanges for buying and selling the digital currency are beginning to gain momentum as more of the public is takes an interest, many are wondering whether or not bitcoin will be able to handle a steep rise in transaction growth.
Blockchain Has Flaws
Although blockchain has been touted as one of the greatest technological advances of the decade, the ledger-like system does have limits.
Since each node of blockchain records every single transaction, the cost of running nodes will likely outweigh the benefits of using them if bitcoin grows into a mainstream payment method.
Most believe that bitcoin as it is now could not function as a payment platform on its own.
Filtering Out Necessary Information
Joseph Poon and Thaddeus Dryja say their latest development, theBitcoin Lightning Network, can help.
The lightning network allows some transactions to take place off of the blockchain and broadcasts only the final, necessary transaction information to the entire blockchain.
Related Link:Is There Room For Another Cryptocurrency?
The blockchain's ledger, accessible to everyone, would still have record of the transaction, but not any intermediary dealings that may have taken place.
A Work In Progress
The Bitcoin Lightning Network presents an exciting solution to bitcoin's scalability problems, but there are still several issues that need to be worked out before the network can be developed or considered as a viable way to do business.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
BTCTurk 758.51 TL BTCe 287.602 $ CampBx 308.43 $ BitStamp 290.00 $ Cavirtex 348.99 $ CEXIO 291.11 $ Bitcoin.de 277.08 € #Bitcoin #btc || BTCTurk 648.98 TL BTCe 244.662 $ CampBx 244.00 $ BitStamp 245.03 $ Cavirtex 345 $ CEXIO 246.74 $ Bitcoin.de 227.24 € #Bitcoin #btc || Bitcoin traded at $235.99 USD on BTC-e at 07:00 AM Pacific Time || $292.02 at 09:15 UTC [24h Range: $288.00 - $294.26 Volume: 5803 BTC] || buysellbitco.in #bitcoin price in INR, Buy : 18689.00 INR Sell : 18047.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $920.68 #bitcoin #btc || $224.84 at 19:45 UTC [24h Range: $223.00 - $236.90 Volume: 11101 BTC] || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000007
Bittrex: 0.00000007
Average $2.0E-5 per #reddcoin
10:15:00 || current #bitcoin price (winkdex) is $237.46, last changed Sat, 11 Apr 2015 17:36:00 GMT. queried at: 17:39:36 || @eutiarroba del PCCoste de #CalleBitcoin no me ha querido cobrar. Aceptando Bitcoin no te libras, aquí tienes €5.00 de propina @ChangeTip
|
Trend: up || Prices: 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-06-27]
BTC Price: 2552.45, BTC RSI: 50.35
Gold Price: 1246.40, Gold RSI: 44.23
Oil Price: 44.24, Oil RSI: 40.69
[Random Sample of News (last 60 days)]
10 things you need to know before the opening bell: (A warden guards Sudan, the last surviving male northern white rhino, at the Ol Pejeta Conservancy in Laikipia national park, KenyaReuters/Baz Ratner)
Here is what you need to know.
The jobs report is coming.The US economy is expected to have added 190,000 nonfarm jobs in April as the unemployment rate ticked up to 4.6%, according to economists surveyed by Bloomberg. Additionally, average hourly earnings are expected to have held steady at up 2.7% year-over-year. The data will cross the wires at 8:30 a.m. ET.
Oil plunges suddenly.In a matter of 20 minutes, West Texas Intermediate crude oil tumbled 3.6% to a low of $43.76 a barrel. However, it has recovered its losses, and now trades little changed near $45.55.
Bitcoin is swinging violently.The cryptocurrency gained as much as 9% on Thursday, putting in a record high of $1,652 a coin before plunging below $1,500. On Friday, bitcoin trades up 6.4% at $1,598.
The 1st large Chinese-made passenger jet took off on its maiden voyage.The C919 took off from Shanghai Pudong International Airport, making China the fourth jumbo jet producer after the US, Europe, and Russia, Reuters says.
Warren Buffett unloads some of his IBM stock.Buffett sold one-third of Berkshire Hathaway's 81 million shares saying he "revalued it somewhat downward" from six years ago. Berkshire's annual meeting will take place on Saturday, and Business Insider will have full coverage.
ChemChina clinches its $43 billion takeover of Syngenta."At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered," the companies said in a joint statement. "Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met."
Shake Shack same-store sales whiff.The burger chain said sales at stores open at least a year fell 2.5%, missing the 0.2% growth that Wall Street analysts were expecting. Shake Shack shares sank more than 7% in extended trading on Thursday.
Stock markets around the world are lower.Hong Kong's Hang Seng (-0.8%) lagged in Asia and Germany's DAX (-0.3%) trails in Europe. The S&P 500 is set to open little changed near 2,391.
Earnings reporting slows down.Cigna, Cognizant, and Fannie Mae are among the names reporting ahead of the opening bell.
Aside from the jobs report, US economic data is light.Consumer credit will be released at 3 p.m. ET. The US 10-year yield is unchanged at 2.35%.
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• 10 things you need to know before the opening bell || Pirates 5 'stolen' from Disney and held for ransom: From Digital Spy A digital copy of Pirates of the Caribbean: Salazar's Revenge has allegedly been stolen from Disney and is being held for ransom. Walt Disney CEO Bog Iger told his employees at a staff meeting on Monday (May 15) that the company had been contacted by an alleged cyber-criminal claiming to have gained access to one of the studio's films. Photo credit: ABC/Image Group LA / Getty Images (Disney CEO Bob Iger in happier times) Although Iger would not confirm the title of the stolen movie at his staff meeting, reports have since pointed to the latest Pirates of the Caribbean sequel. Digital Spy has reached out to Disney for more information. This hacker has threatened to release the movie illegally on the internet in short segments unless Disney pays a ransom in Bitcoin. At present, Iger says that Disney is refusing to pay any money for the return of the film (via Deadline ). The film industry giant is apparently also working with US federal officials in hopes of identifying the person behind this theft and retrieving the film. Pirates of the Caribbean: Salazar's Revenge is currently slated to be officially released in the UK and the US next Friday (May 26). Photo credit: Disney Sony Pictures fell victim to a data breach from the North Korea-backed cyber-criminal ring known as Guardians of Peace back in 2014 in what eventually became an international incident. While no films were stolen in the Guardians of Peace attack, confidential details about upcoming Sony projects and embarrassing personal emails from executives were all illegally leaked on social media. Netflix also recently fell victim to hackers who stole the new season of Orange is the New Black . When the streaming giant refused to pay ransom in that instance, 10 episodes were leaked onto the web. Want up-to-the-minute entertainment news and features? Just hit 'Like' on our Digital Spy Facebook page and 'Follow' on our @digitalspy Twitter account and you're all set. You Might Also Like Neighbours: 19 new spoiler pictures as Sonya has a drunken meltdown and Finn manipulates Xanthe Home and Away: 16 new spoiler pictures as Morag returns, Roo gets a new man and VJ confronts Zac EastEnders: 26 new spoiler pictures as Louise's drink incident is investigated and Lauren's love triangle hots up || Cramer's lightning round: You're swinging for the fences in this space: It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:
Applied Optoelectronics(NASDAQ: AAOI): "Boy, you're swinging for the fences with the optical plays, including that one. You know what? I'm going to send you back to the drawing board with Broadcom(NASDAQ: AVGO). People don't want to buy Broadcom because it's more than $200. That's penny-wise and pound-foolish."
Nutanix(NASDAQ: NTNX): "I think Nutanix is undervalued here. I like enterprise storage. I can't believe the stock isn't up more after that terrific quarter."
Reynolds American(NYSE: RAI): "OK, just hold on to it [through the takeover]. You're going to do great."
Ulta Beauty(NASDAQ: ULTA): "I think that [CEO] Mary Dillon is doing a remarkable job. I liked that tie-up recently with Estee Lauder(NYSE: EL). [Estee Lauder CEO Fabrizio] Freda's doing an unbelievable job. Fabrizio and Mary are two of the best executives in the industry and I want you to buy Ulta. Look, and I know the chart looks bad. Alright, alright, alright."
Mosaic(NYSE: MOS): "I think more of a broken stock than company, but you know, if I'm going to go [agriculture], I'm going AGCO(NYSE: AGCO). [AGCO CEO] Martin Richenhagen is the man."
Farmland Partners(NYSE: FPI): "Too speculative for me. Again, I am going to return to the Martin Richenhagen theory, AGCO."
KeyCorp(NYSE: KEY): "I understand it didn't do well in the stress test, but I think [CEO] Beth Mooney's terrific. My charitable trust owns it. I'm holding it because it's got growth. It was a bummer to see that it didn't do that well. Maybe they have to boost some capital. I don't think they have to. I'm sticking by KeyCorp. I'm sticking by Beth Mooney."
FireEye(NASDAQ: FEYE): "I'm not a buyer. I like Proofpoint(NASDAQ: PFPT)here. I think Proofpoint's doing better. That's the one I would buy."
B&G Foods(NYSE: BGS): "Haven't liked the last couple of quarters. Don't even want that yield if I can't get growth. The food business? I say ixnay, let's go to Mondelez(NASDAQ: MDLZ)."
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• Cramer: Bitcoin-ethereum craze boosts Nvidia and AMD, but it shouldn't || Your first trade for Wednesday, May 24: The " Fast Money " traders shared their first moves for the early hours of the trading day. Pete Najarian was a buyer of Goldman Sachs (NYSE: GS) . Brian Kelly was a buyer of the SPDR S&P Regional Banking ETF (NYSE Arca: KRE) . Steve Grasso was a buyer of KB Home (NYSE: KBH) . Guy Adami was a buyer of Xilinx (NASDAQ: XLNX) . Trader disclosure: On May 23, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BK is long Bitcoin, Ethereum, GE, HLF, IWM, TSLA, WMT. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, GS, KMI, MDLZ, NBL, NBR, ORCL, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, GS, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PFE, RL, STX, TPX, UNP, WDC, WFT. Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, JCP, KBH, LEN, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC 4 Stocks to buy in a turnaround 6 names that still work Your first trade for Thursday, May 18 || Bitcoin is making a big comeback: Bitcoin is making a big comeback, trading up by 9.8% at $2,563 a coin on Friday. Friday's gain follows a wild day Thursday , which saw the cryptocurrency ultimately put in its 27th gain in the past 30 sessions. Bitcoin climbed above $2,500 and ultimately put in a record high of $2,799. But then the bottom dropped out, and bitcoin plunged to a low of $2,200 before recouping some of those losses and finishing the day with a small gain. The cryptocurrency climbed had climbed by much as 26% following Wednesday's announcement that the Digital Currency Group, representing 56 companies in 21 countries, reached a scaling agreement at the Consensus 2017 conference in New York. It has been on fire in the past two months, gaining nearly 140% since the beginning of April, when Japan announced bitcoin had become a legal payment method in the country. Trade has also been boosted by news that Russia's largest online retailer, Ulmart, had begun accepting bitcoin despite Russia's saying it wouldn't consider the use of the cryptocurrency until 2018. But the market is still waiting on a ruling by the US Securities and Exchange Commission on whether it will overturn its decision on the Winklevoss twins' bitcoin-exchange-traded fund . The SEC was accepting public comment on that decision until May 15, but it hasn't announced whether it will overturn its rejection of the ETF. Bitcoin is up 169% this year. Bitcoin (Investing.com) NOW WATCH: 9 phrases on your résumé that make hiring managers cringe More From Business Insider People are making a fortune buying government-seized bitcoins Bitcoin plunges and then recovers Bitcoin blows past $2,000, $2,100, and $2,200 for the first time || Bitcoin soars past $1,700 for the first time: Bitcoinseems unstoppable, topping $1,700 for the first time on Tuesday.
The cryptocurrency is up 5.71% at $1,758.45 a coin, as trade grinds higher for the 16th time in 18 sessions. It has gained nearly 50% during its run.
Tuesday's gain comes without any obvious catalyst as traders await the US Securities and Exchange Commission's ruling on whether it willreverse its decision to reject the Winklevoss twins' exchange-traded fund.
The SEC rejected two bitcoin ETFs back in March, saying it "is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."
Bitcoin recently has shrugged offChina restricting trade, the SEC's rejecting of the two bitcoin ETFs, and threats from developers to create a "hard fork" that would split the cryptocurrency in two.
But there has also been some good news for bitcoin, which has posted an 85% gain this year.
At the beginning of April, Japan's financial regulators saidbitcoin would be considered a legal payment methodin the country, and days later Russia said it would consider bitcoin and other cryptocurrencies in 2018.
Aside from 2014, bitcoin has been the top-performing currency every year since 2010.
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• Bitcoin is closing in on $1,500 || Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback?: InvestorPlace - Stock Market News, Stock Advice & Trading Tips
A few weeks ago,we said that it was “Do or Die Time” forAdvanced Micro Devices, Inc.(NASDAQ:AMD). At that time, shares took a dive from earnings, rallied on rumors of a deal withIntel Corporation(NASDAQ:INTC) and fell when doubts came along. At that point, AMD stock was just above support and we weren’t sure if it would hold.
Source:Matthew Rutledge via Flickr
From our perspective, the bulls were still in control, but barely. If the $10 level were to fail, bears would seize control. That didn’t happen though, as AMD stock put together amore than 13% rally over the past three days. So what should investors do?
We’ll get to the technical outlook in a moment, but first, let’s touch on the fundamentals.
Why did AMD stock get such a strong bounce in early June? Two reasons really drove it higher. The first, it became known that Advanced Micro Devices’ RX 500 graphic chips can beused to “mine” cryptocurrencies like Bitcoin.
This product launched in April and is still sold out at many online retailers. This has investors optimistic that revenue will be strong and demand will continue once retailers are able to restock.Given Bitcoin’s bubble-like rise, the mania certainly looks set to continue for some time.
Additionally,Apple Inc.(NASDAQ:AAPL) just held an enormous event, its WWDC conference. Aside from big announcements regarding the HomePod speaker, a new iOS andeverything here, there was something else for AMD.
Investors are cheering for AMD’s RX Vega GPU. Specifically, that the iMac Pro willuse one of two types from the Vega lineup, the Radeon Pro Vega 56 or the Radeon Pro Vega 64. Both are quite powerful and will be the driving computing force in Apple’s new devices.
The effort likely comes on Apple’s part of trying to boost its virtual reality capabilities.
Advanced Micro Devices’ recent additions bode well for its business moving forward. Management is returning the company to profitability in 2017, which is a lot harder than it sounds. Over the past nine months, debt has fallen 37% and its valuation (compared toNvidia Corporation(NASDAQ:NVDA) and Intel) is attractive.
Click to Enlarge
Source: Stockcharts.com
So where does that leave AMD stock? I’m a levels-guy first, meaning I look for historic areas of support and resistance. I like to keep it simple.
In Advanced Micro Devices’ case, that level comes into play around $12.25. On Tuesday, AMD made it to $12, but it was unclear if it would climb above it. On Wednesday, AMD stock flew past it, up to $13 at one point.
AMD stock is now above the 50-day moving average too. And even though it gave up the bulk of its gains on Wednesday with that instant pullback from $13, it was a constructive move.
Finally, there’s the relative strength index and the MACD. The RSI (blue circle) tells us if a stock is overbought when the reading is above 70. Fortunately, AMD stock is not in this territory yet. MACD tells us momentum. For AMD, momentum is positive, but appears to be nowhere near running out of gas. Both of these indicators are bullish.
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So are there negatives? Yes, a few. Although not pictured, AMD has not gotten above its 100-day moving average. Additionally, the two red stars on the chart mark where AMD stock has struggled, failing to clear $13.
Given the strong volume the past few days, it is more likely the stock trades higher rather than lower. A move below $12 and the 50-day moving average may change that. But like we said a few weeks ago, for now, AMD stock is still running with the bulls.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell held no position in any stocks mentioned.
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The postIs Advanced Micro Devices, Inc. (AMD) Stock on a Comeback?appeared first onInvestorPlace. || 'Petya' cyber attack: List of affected companies shows scale of hack: The 'Petya' cyber attack is affecting major companies around the world. The ransomware, which is being likened to WannaCry , which crippled the NHS in May, initially attacked businesses in Ukraine, but has spread to more countries, including Russia and the UK. It's locking users out of their computers, and demanding a payment of $300 in Bitcoin from them. However, experts have warned against paying the ransom, as doing so could encourage similar attacks in the future. These are the companies and organisations that have confirmed they've been affected by the Petya attack. Rosneft Russias top oil producer Rosneft said its servers had been hit been a large-scale cyber attack but its oil production was unaffected. A.P. Moller-Maersk Danish shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said a cyber attack had caused outages at its computer systems across the world. Maersks port operator APM Terminals was also hit. Dutch broadcaster RTV Rijnmond reported that 17 shipping container terminals run by APM Terminals had been hacked, including two in Rotterdam and 15 in other parts of the world. WPP Britains WPP, the worlds biggest advertising company, said computer systems within several of its agencies had been hit by a suspected cyber attack. Merck & Co. Pharmaceutical company Merck & Co. said in a tweet its computer network was compromised as part of a global hack. Russian Banks Russias central bank said there had been computer attacks on Russian banks and that in isolated cases their IT systems had been infected. All Russian branches of Home Credit consumer lender are closed because of a cyber attack, an employee of a Home Credit call centre in Russia said. Ukrainian Banks, Power Grid A number of Ukrainian banks and companies, including the state power distributor, were hit by a cyber attack that disrupted some operations, the Ukrainian central bank said. Ukrainian International Airport Yevhen Dykhne, director of the capitals Boryspil Airport, said it had been hit. In connection with the irregular situation, some flight delays are possible, Dykhne said in a post on Facebook. Story continues Saint Gobain French construction materials company Saint Gobain said it had been a victim of a cyber attack, and it had isolated its computer systems to protect data. Deutsche Post German postal and logistics company Deutsche Post said systems of its Express division in the Ukraine have in part been affected by a cyber attack. Metro Germanys Metro said its wholesale stores in the Ukraine had been hit by a cyber attack and the retailer was assessing the impact. Mondelez International Food company Mondelez International said employees in different regions were experiencing technical problems but it was unclear whether this was due to a cyber attack. Evraz Russian steelmaker Evraz said its information systems had been hit by a cyber attack but its output was not affected. Norway A ransomware cyber attack is taking place in Norway and is affecting an unnamed international company, says the Nordic countrys national security authority. Additional reporting by Reuters || Your first trade for Thursday, May 25: The "Fast Money" traders shared their first moves for the market open.
Pete Najarian was a buyer of PepsiCo(NYSE: PEP).
Karen Finerman was a buyer of PVH Corp(NYSE: PVH).
Two of traders had opposing trades. Dan Nathan was a seller of McDonald's(NYSE: MCD), while Guy Adami was a buyer.
Trader disclosure: On May 24, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Dan Nathan is long SPY May put spread, XLV long June put, XLI long June put spread, XRT long June put. Karen Finerman is long AAL, BAC, BAC short calls, Bitcoin and other digital currencies, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GLNG, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WFM. Her firm is long ANTM, BAC calls, C, C calls, FB, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, SPY put spreads, WIFI, UAL, her firm is short IWM, MDY. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, KMI, LNG, MDLZ, NBL, NBR, ORCL, PEP, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PEP, PFE, RL, STX, TPX, UNP, WDC, WFT
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• 4 Stocks to buy in a turnaround || SinglePoint Expects Significant Revenues Increase as Cannabis Subsidiary Receives Initial Payment for New Major Purchase Order: SEATTLE, WA--(Marketwired - Jun 27, 2017) - SinglePoint (OTC:SING) announces that its recently acquired DIGS Hydro subsidiary has received a major purchase order from Premier Biomedical (OTCQB:BIEI). DIGS Hydro has received the initial payment with final payment due on delivery. Based on recent discussions between the parties, Premier Biomedical plans to continue to order its supplies from DIGS Hydro, a provider of a variety of supplies and services specifically to the cannabis industry.
"This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been working very hard on making acquisitions and inside sales to boost revenues. To have this subsidiary execute on its business plan and generate major revenue for SinglePoint is exactly what we want to see. We are very excited about the second quarter financials and showing the significant revenue increase," SinglePoint CEO Greg Lambrecht states.
Premier Biomedical offers a rounded suite of products, and with DIGS Hydro has found a reliable supplier of additional products. The synergies between Premier Biomedical, DIGS Hydro and SinglePoint enable each company to quickly and efficiently grow their operations.
William Hartman CEO and co-founder for Premier Biomedical states, "We are excited we found a supplier for the products we need. This significantly increases the company's initiatives and enables us to grow the revenue of the offerings we have. We look forward to working with DIGS Hydro and SinglePoint to continue building our relationship together."
DIGS Hydro, of which SinglePoint owns a 90% stake (http://nnw.fm/oh7ZW), has two brick-and-mortar retail stores and has plans to open a third. As evidenced by today's news, SinglePoint's acquisition-based revenue growth strategy is gaining traction. As a result, SinglePoint expects to report a significant increase in revenues in its second-quarter financial statements. The acquisition of DIGS Hyrdo has also enabled SinglePoint to make numerous contacts in the cannabis industry, most of which are potential acquisition targets or customers for one of the many offerings SinglePoint has developed.
SinglePoint is diligently working to develop viable solutions, and reports that potential clients are now starting to engage with the company. SinglePoint has acquired multiple companies in the cannabis space, and is pursuing additional acquisition opportunities in the wake of increased market attention and recognition. As part of its push to increase revenues in 2017 through acquisition and inside sales of the company services, management is negotiating multiple contracts and is onboarding new clients.
Further supporting these endeavors is SinglePoint's recent capital raise (http://nnw.fm/G8dn5) to fund additional projects such as Bitcoin Payments, currently in development (http://nnw.fm/7XlMo). This project has been green lighted and architecture for development has been completed. SinglePoint has engaged a recruiting firm to help find a block chain expert and is in negotiations with potential candidates. Additional announcements on timeline and delivery will be made soon.
About Premier Biomedical, Inc.Premier Biomedical, Inc. (OTCQB:BIEI) is a research-based publicly traded company that intends to discover and develop medical treatments for a wide range of diseases in humans. Premier has obtained, via exclusive license agreements, the technology behind three granted U.S. patents, multiple pending provisional patents, and a PCT Europe National Patent. Founded in 2010, Premier has partnered with the University of Texas at El Paso (UTEP). The company's R&D efforts are centered in El Paso, Texas; its business offices are in Western Pennsylvania.
For more information, visit:http://www.premierbiomedical.com
About SinglePoint, Inc.SinglePoint, Inc. (OTC:SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary companySingleSeedthe company is providing products and services to the cannabis industry.
Connect on social media at:http://wwww.facebook.com/SinglePointMobilehttp://www.twitter.com/_SinglePoint_http://wwww.linkedin.com/company/SinglePointhttp://wwww.youtube.com/user/SinglePointMobile
For more information visithttp://wwww.SinglePoint.comorhttp://wwww.SingleSeed.com
Forward-Looking StatementsCertain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
[Random Sample of Social Media Buzz (last 60 days)]
BTC Real Time Price: ThePriceOfBTC: $2711.02 #GDAX;
$2717.20 #bitstamp;
$2719.78 #gemini;
$2719.11 #kraken;
$2658.00 #btce;
$2781.37 #cex; || Nächstes Jahr kommt dann raus, dass Bitcoin von Phil Collins betrieben wurde, nur um der Gesellschaft einen Spiegel vorzuhalten naja || #noticias Estocolmo será visitada por Blockchain & Bitcoin Conference. http://ift.tt/2sEiXic || #Cryptocurrency Startup Byteball Now Offers Bot Store and P2P Insurance Solutions #Bitcoin #Business #Ethereum - http://j.mp/2s5j2KM []pic.twitter.com/sXhNoP6JEe || http://ift.tt/2ssjXWe BitSquare Will List The UAHF Currency as BitmainCoin On August 1st #Bitcoin #Blockchain || #Bitcoin News US, Kenya, Singapore: AIG Completes Multinational Blockchain Insurance Test http://ow.ly/brtF50cagm1 || #bitcoin #miner NEW Bitmain Antminer S9 13.5 TH/s Bitcoin miner & APW3+-2-1600 PSU Power Supply $1300.00 http://ift.tt/2pTStrf pic.twitter.com/GGVumNj4x5 || Current price of Bitcoin is $2228.00. || Major bitcoin exchanges hit by cyberattacks as record rally makes them a target
http://ow.ly/kAlc30cCPxT || "AIG Teams With IBM to Use Blockchain for 'Smart' Insurance Policy" by REUTERS via #NYT #bitcoin http://ift.tt/2squ0uD
|
Trend: down || Prices: 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-01-24]
BTC Price: 36654.33, BTC RSI: 28.90
Gold Price: 1841.70, Gold RSI: 59.12
Oil Price: 83.31, Oil RSI: 60.36
[Random Sample of News (last 60 days)]
Cardano, Polkadot Jump as Bitcoin Holds Above $50K: The tokens of Cardano ( ADA ) and Polkadot ( DOT ), two rivals to the Ethereum blockchain, led gains among major cryptocurrencies amid a muted recovery in broader digital-asset markets on Monday. Bitcoin ( BTC ) and ether ( ETH ), the native cryptocurrency of Ethereum, regained price levels from Friday after seeing a slight dip over an otherwise quiet Christmas weekend. Bitcoin failed to break above the $51,000 resistance level on Saturday and fell to $49,700 on Sunday, but traders have since bought the asset back to last Friday’s $50,900 level. ADA gained 9.5% in the past 24 hours to reach a resistance level of $1.56 during European trading hours on Monday. The move came after Cardano founder Charles Hoskinson spoke in a public broadcast of improved network enhancements in 2022 and efforts for more adoption of ADA in regions such as Africa. The Relative Strength Index (RSI), a price-chart indicator, turned overbought on ADA following the move. The tool calculates market momentum for assets. An overbought level implies prices are overvalued and may be primed for a trend reversal or corrective price pullback. ADA tokens surged 9.5% on Monday to lead gains among large cap cryptocurrencies. (TradingView) DOT prices rose in the past week as the Polkadot blockchain’s second batch of parachain auctions went live. The cryptocurrency saw similarly overbought levels after an 8% surge to $31.70 in the past 24 hours. Charts showed strength as dips to the $30.80 level in Asian trading hours were bought up by traders. Parachains are distinct blockchains that run atop the main Polkadot blockchain. Polkadot, however, has a limited number of slots that can support such parachains, meaning winning slots are subject to a community-run auction that uses DOT to vote for slots, leading to increased demand for the cryptocurrency. Among other large-cap cryptos, tokens of decentralized exchange Uniswap ( UNI ), which relies on smart contracts instead of third parties to execute crypto-to-crypto trades, rose 12% in the past 24 hours to $19.25 on Monday. Story continues Other “blue chip” decentralized finance (DeFi) tokens from 2020 saw similar price jumps. Tokens of lending protocol Aave ( AAVE ) and synthetic exchange Synthetix ( SNX ) were up 10% in the past 24 hours while tokens of DeFi platforms Sushi ( SUSHI ) and Yearn Finance ( YFI ) were up 7% in a comparable period. The moves followed chatter among crypto traders on Twitter that token prices of relatively older DeFi applications on Ethereum had turned undervalued – compared to their fundamentals – and could see capital inflow. Jay Hao, CEO of crypto exchange OKEx, said DeFi tokens would see a further rise in 2022. “As the crypto industry evolves and investors gain more knowledge about crypto assets, we will see more investments in specific coins which belong to blockchain playing pivotal role in decentralized finance,” Hao said in an email to CoinDesk. || Grayscale Adds Flexas AMP to DeFi Fund, Removes BNT, UMA in Quarterly Rebalancing: Grayscale Investments, which runs the Grayscale DeFi Fund and Grayscale Digital Large Cap Fund, announced in a release on Monday updated fund component weightings for each product in connection with the funds quarterly reviews. Rebalancing of the Grayscale DeFi Fund followed quarterly reconstitution of the CoinDesk DeFi Index (DFX) , which the fund tracks. New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk. CoinDesk Indices launched the CoinDesk DeFi Index (DFX) in July. At the same time, Grayscale announced the Grayscale DeFi Fund. The DFX output is available live on tradeblock.com , the website of CoinDesk Indices wholly owned index calculation agent. Quarterly reconstitution of the DFX resulted in the removal of two cryptocurrencies and the addition of one. Universal market access (UMA) and bancor (BNT) were removed from the index, and Flexas amp (AMP) was added. The DFX is a market-cap-weighted basket of cryptocurrencies, representative of the DeFi ( decentralized finance ) category, as defined in the CoinDesk Indices Digital Asset Classification Standard . In accordance with the CoinDesk DeFi Index reconstitution, Grayscale adjusted the DeFi Funds portfolio by selling certain amounts of the existing fund components in proportion to their weightings and using the cash proceeds to purchase amp (AMP). As a result of the rebalancing, bancor (BNT) and universal market access (UMA) have been removed from the DeFi Fund. AMP is the native token of the Flexa network, a payment network that enables crypto-collateralized payments at physical stores and online. Flexa uses the AMP token to collateralize digital asset payments while they are confirmed on their blockchains and settles the payments in fiat to the recipient. By enabling payments through the Flexa network, supporting merchants can more easily and confidently accept payment in BTC, ETH and other digital assets. The Flexa network is one of a number of projects intended to accelerate the development of the blockchain into a mature peer-to-peer money system, according to Grayscale. Story continues DeFi Funds components as of Monday: At the end of the day on Monday, the DeFi Funds Fund Components were a basket of the following assets and weightings. Uniswap (UNI), 42.33% Aave (AAVE), 13.06% Curve (CRV), 10.63% MakerDAO (MKR), 8.99% Amp (AMP), 7.39% Yearn Finance (YFI), 6.34% Compound (COMP), 5.02% Synthetix (SNX), 3.15% SushiSwap (SUSHI), 3.09% No new tokens were added or removed from Grayscale Digital Large Cap Fund. This announcement follows the October news that Grayscale adjusted the Digital Large Cap Funds portfolio and added solana (SOL) and uniswap (UNI). At the end of the day on Monday, the Digital Large Cap Funds components were a basket of the following assets and weightings: Bitcoin (BTC), 60.50% Ethereum (ETH), 30.13% Solana (SOL), 3.56% Cardano (ADA), 3.05% Uniswap (UNI), 0.77% Chainlink (LINK), 0.71% Litecoin (LTC), 0.69% Bitcoin Cash (BCH), 0.59% Neither the DeFi Fund nor the Digital Large Cap Fund generates any income, and both regularly distribute fund components to pay for expenses. Therefore, the amount of fund components represented by shares of each fund gradually decreases over time. Note: This article was updated to clarify the relationship between the CoinDesk DeFi Index (DFX) and the Grayscale DeFi Fund. || Stone House Investment Management, LLC Buys iShares TIPS Bond ETF, BTC iShares MSCI EAFE Growth ...: Investment company Stone House Investment Management, LLC ( Current Portfolio ) buys iShares TIPS Bond ETF, BTC iShares MSCI EAFE Growth ETF, iShares Fallen Angels USD Bond ETF, iShares Core MSCI Total International Stock ETF, BTC iShares MSCI USA Min Vol Factor ETF, sells iShares 1-3 Year Credit Bond ETF, iShares MSCI EM ESG Select ETF, iShares S&P 500 Growth ETF, Fidelity MSCI Financials Index ETF, iShares Core S&P Total U.S. Stock Market ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Stone House Investment Management, LLC. As of 2021Q4, Stone House Investment Management, LLC owns 42 stocks with a total value of $292 million. These are the details of the buys and sells. New Purchases: TIP, USMV, TLH, USEP, TSLA, FDIS, AMD, FREL, Added Positions: EFG, ESGU, FALN, IXUS, IVV, FTEC, PG, EFV, IUSB, IJR, COMT, UMAR, FBND, AMZN, TLT, Reduced Positions: ESGE, IVW, GOVT, FNCL, IVE, FENY, UPRO, USSG, SPXL, BOND, AGG, AAPL, PFIS, MBB, ACWX, Sold Out: IGSB, ITOT, Warning! GuruFocus has detected 2 Warning Sign with PYPL. Click here to check it out. EFG 15-Year Financial Data The intrinsic value of EFG Peter Lynch Chart of EFG For the details of Stone House Investment Management, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/stone+house+investment+management%2C+llc/current-portfolio/portfolio These are the top 5 holdings of Stone House Investment Management, LLC S&P 500 ETF TRUST ETF ( SPY ) - 95,486 shares, 15.52% of the total portfolio. Shares added by 0.88% Procter & Gamble Co ( PG ) - 212,758 shares, 11.91% of the total portfolio. Shares added by 7.54% iShares Core S&P 500 ETF ( IVV ) - 71,289 shares, 11.64% of the total portfolio. Shares added by 10.73% iShares MSCI USA ESG Optimized ETF (ESGU) - 280,421 shares, 10.35% of the total portfolio. Shares added by 17.09% iShares Core MSCI Total International Stock ETF (IXUS) - 268,602 shares, 6.52% of the total portfolio. Shares added by 21.14% Story continues New Purchase: iShares TIPS Bond ETF (TIP) Stone House Investment Management, LLC initiated holding in iShares TIPS Bond ETF. The purchase prices were between $126.62 and $129.87, with an estimated average price of $128.15. The stock is now traded at around $126.110000. The impact to a portfolio due to this purchase was 2.69%. The holding were 60,749 shares as of 2021-12-31. New Purchase: BTC iShares MSCI USA Min Vol Factor ETF (USMV) Stone House Investment Management, LLC initiated holding in BTC iShares MSCI USA Min Vol Factor ETF. The purchase prices were between $73.05 and $81.04, with an estimated average price of $77.29. The stock is now traded at around $77.095600. The impact to a portfolio due to this purchase was 1.02%. The holding were 36,760 shares as of 2021-12-31. New Purchase: iShares 10-20 Year Treasury Bond ETF (TLH) Stone House Investment Management, LLC initiated holding in iShares 10-20 Year Treasury Bond ETF. The purchase prices were between $143.74 and $151.91, with an estimated average price of $147.68. The stock is now traded at around $143.480000. The impact to a portfolio due to this purchase was 0.2%. The holding were 4,029 shares as of 2021-12-31. New Purchase: Innovator U.S. Equity Ultra Buffer ETF - September (USEP) Stone House Investment Management, LLC initiated holding in Innovator U.S. Equity Ultra Buffer ETF - September. The purchase prices were between $27.7 and $28.72, with an estimated average price of $28.39. The stock is now traded at around $28.550000. The impact to a portfolio due to this purchase was 0.17%. The holding were 17,070 shares as of 2021-12-31. New Purchase: Tesla Inc (TSLA) Stone House Investment Management, LLC initiated holding in Tesla Inc. The purchase prices were between $780.59 and $1229.91, with an estimated average price of $1012.35. The stock is now traded at around $1027.195000. The impact to a portfolio due to this purchase was 0.11%. The holding were 298 shares as of 2021-12-31. New Purchase: Fidelity MSCI Consumer Discretionary Index ETF (FDIS) Stone House Investment Management, LLC initiated holding in Fidelity MSCI Consumer Discretionary Index ETF. The purchase prices were between $79.89 and $91.95, with an estimated average price of $86.98. The stock is now traded at around $83.290000. The impact to a portfolio due to this purchase was 0.07%. The holding were 2,268 shares as of 2021-12-31. Added: BTC iShares MSCI EAFE Growth ETF (EFG) Stone House Investment Management, LLC added to a holding in BTC iShares MSCI EAFE Growth ETF by 46.84%. The purchase prices were between $104.29 and $112.61, with an estimated average price of $108.92. The stock is now traded at around $104.140100. The impact to a portfolio due to this purchase was 1.68%. The holding were 139,990 shares as of 2021-12-31. Added: iShares Fallen Angels USD Bond ETF (FALN) Stone House Investment Management, LLC added to a holding in iShares Fallen Angels USD Bond ETF by 154.96%. The purchase prices were between $29.31 and $30.2, with an estimated average price of $29.76. The stock is now traded at around $29.475000. The impact to a portfolio due to this purchase was 1.32%. The holding were 212,265 shares as of 2021-12-31. Added: iShares Core MSCI Total International Stock ETF (IXUS) Stone House Investment Management, LLC added to a holding in iShares Core MSCI Total International Stock ETF by 21.14%. The purchase prices were between $68.21 and $72.74, with an estimated average price of $70.81. The stock is now traded at around $71.045000. The impact to a portfolio due to this purchase was 1.14%. The holding were 268,602 shares as of 2021-12-31. Added: Fidelity MSCI Information Technology Index ETF (FTEC) Stone House Investment Management, LLC added to a holding in Fidelity MSCI Information Technology Index ETF by 92.03%. The purchase prices were between $117.07 and $137.67, with an estimated average price of $129.74. The stock is now traded at around $126.720000. The impact to a portfolio due to this purchase was 0.9%. The holding were 40,672 shares as of 2021-12-31. Added: Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) Stone House Investment Management, LLC added to a holding in Innovator U.S. Equity Ultra Buffer ETF - March by 102.06%. The purchase prices were between $29.09 and $29.8, with an estimated average price of $29.57. The stock is now traded at around $29.800000. The impact to a portfolio due to this purchase was 0.07%. The holding were 14,700 shares as of 2021-12-31. Added: Fidelity Total Bond ETF (FBND) Stone House Investment Management, LLC added to a holding in Fidelity Total Bond ETF by 46.46%. The purchase prices were between $52.57 and $53.35, with an estimated average price of $52.91. The stock is now traded at around $52.190000. The impact to a portfolio due to this purchase was 0.04%. The holding were 7,815 shares as of 2021-12-31. Sold Out: iShares 1-3 Year Credit Bond ETF (IGSB) Stone House Investment Management, LLC sold out a holding in iShares 1-3 Year Credit Bond ETF. The sale prices were between $53.7 and $54.33, with an estimated average price of $53.95. Sold Out: iShares Core S&P Total U.S. Stock Market ETF (ITOT) Stone House Investment Management, LLC sold out a holding in iShares Core S&P Total U.S. Stock Market ETF. The sale prices were between $97.9 and $107.61, with an estimated average price of $104.32. Here is the complete portfolio of Stone House Investment Management, LLC. Also check out: 1. Stone House Investment Management, LLC's Undervalued Stocks 2. Stone House Investment Management, LLC's Top Growth Companies, and 3. Stone House Investment Management, LLC's High Yield stocks 4. Stocks that Stone House Investment Management, LLC keeps buyingThis article first appeared on GuruFocus . || Mike Novogratz Expects Bitcoin to Stay Above $42,000: The cryptocurrency market has been in a bearish trend for the past few weeks, with the prices of most coins down by more than 20% during that period. However, market experts are still optimistic about the medium and long-term outlook of cryptocurrencies.
Crypto billionaire and the CEO of Galaxy Digital Mike Novogratz has stated that he believesBitcoinwill stay above the $42,000 level. He made this statement during an interview with CNBC’s Squawk Box yesterday.
Bitcoin has been trading around the $50k level for the past few days. The leading cryptocurrency’s price is down by more than 20% from the all-time high of $69,044 it achieved a month ago.
Novogratz stated that“I think $42,000 should hold, that should be the bottom of this move. It would surprise me if it went below $40,000. There’s so many more people participating in it. It’s hard for me to see if going below.”
According to the Galaxy Digital CEO, there are too many people involved in Bitcoin for the cryptocurrency’s price to fall below $40,000 per coin.
Mike Novogratz is very bullish about thecryptocurrency industry. In June 2019, he pointed out that the potential of the cryptocurrency space is just starting to come to the surface and expects the total market cap to reach $20 trillion in the coming years.
The cryptocurrency market cap reached $3 trillion last month when Bitcoin raced to a new all-time high of $69k. During that period,Ether, the second-largest cryptocurrency by market cap, also reached a new all-time high close to the $5,000 level.
The prices of the cryptocurrencies have been down since then. However, Bitcoin has performed excellently since the start of the year. BTC’s value is up by more than 70% since the start of 2021, outperforming numerous major financial assets in the process.
Thisarticlewas originally posted on FX Empire
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• Ethereum (ETH) Price Prediction – A Move Back Through to $4,400 Would Gives the Bulls a Look at $4,700 || Bitcoin Self-Miner Griid Infrastructure to List on the NYSE Through Merger With Adit Edtech Acquisition Corp.: • Griid Infrastructure LLC (“GRIID”) is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh.
• GRIID anticipates fiscal year 2023 revenue of $1.6 billion.
• The merger between GRIID and Adit EdTech Acquisition Corp. (“ADEX”) represents a pro forma combined company enterprise value of approximately $3.3 billion.
• The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIID’s growth and accelerate scale.
CINCINNATI and NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Griid Infrastructure LLC (together with GRIID Holdco (as defined below), “GRIID” or the “Company”), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. (“Adit EdTech”) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (“Adit”), announced today that they have entered into a definitive merger agreement under which Adit EdTech will acquire Griid Holdco LLC (“GRIID Holdco”), a newly formed holding company and parent of GRIID. Upon completion of the proposed transaction. the combined company is expected to operate under the name “GRIID Infrastructure Inc.” and be listed on the NYSE under the new ticker symbol “GRDI”.
Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC.
Trey Kelly, CEO of GRIID, said, “We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through this transaction.”
David Shrier, CEO of Adit EdTech, added, “Carbon-free mining is the future of bitcoin. GRIID’s combination of a large pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth.”
Eric Munson, Adit’s founder and Managing Partner, said, “GRIID’s focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.”
Key Transaction Terms
The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3 billion, assuming no redemptions of shares of Adit EdTech by its public stockholders and approximately $125 million of debt outstanding as of the closing (which debt is drawn down under GRIID’s $525 million secured credit facility with Blockchain.com). The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTech’s trust account, after payment of Adit EdTech’s transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders.
Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public stockholders will own approximately 8% and Adit EdTech’s sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. GRIID’s existing management team, led by President and CEO Trey Kelly, will continue to lead the business.
The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTech’s stockholders.
Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the “SEC”) and will be available at www.sec.gov.
Advisors
Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. Covington & Burling LLP acted as legal advisor to Adit EdTech.
Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID.
About GRIID
GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. To learn more, visit griid.com.
About Adit Ventures
Adit Ventures is an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today’s market and shaping tomorrow’s economy. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com.
About Adit EdTech
Adit EdTech is a publicly listed special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Adit EdTech’s strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. Adit EdTech’s CFO, John D’Agostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Government’s Department International Trade’s Asset Management Working Group, and is Fellow of the AIF Global Financial Innovation Institute. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively.
Additional Information and Where to Find It
This press release relates to a proposed transaction between Adit EdTech and GRIID. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Adit EdTech intends to file a proxy statement with the SEC. A proxy statement will be sent to all Adit EdTech stockholders. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.
Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov.
Participants in Solicitation
GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding Adit EdTech’s directors and executive officers is available in Adit EdTech’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.
Forward Looking Statements
This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “plan,” “potential,” “predict,” “seek,” “should,” “would” or by variations of such words or by similar expressions. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Adit EdTech’s securities, (ii) the risk that the transaction may not be completed by Adit EdTech’s business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi) the effect of the announcement or pendency of the transaction on GRIID’s business relationships, operating results, and business generally and on Adit EdTech’s stock price, (vii) risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii) the outcome of any legal proceedings that may be instituted against GRIID or against Adit EdTech related to the merger agreement or the proposed transaction, (ix) the ability to maintain the listing of Adit EdTech’s securities on a national securities exchange, (x) the price of Adit EdTech’s securities, which may be volatile due to a variety of factors, including changes in the competitive and regulated] industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across competitors, changes in laws and regulations affecting Adit EdTech’s or GRIID’s business, and changes in the combined capital structure (xi) GRIID’s inability to implement its business plan or meet or exceed its financial projections, (xii) changes in general economic conditions, including as a result of the COVID-19 pandemic, and (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Adit EdTech’s Annual Report on Form 10-K for the year ended December 31, 2020, and other filings made with the SEC and that are available on the SEC’s website at www.sec.gov. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. These forward looking statements speak only as of the date of this press release. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
For investor inquiries regarding Adit EdTech and affiliates, please contact:
John J. D’AgostinoChief Financial [email protected]
For inquiries regarding GRIID, please contact:
Susan DonahueSkyya PR for [email protected] || Celebs Kardashian and Mayweather Sued for Crypto Pump and Dump: The class-action complaint was filed on Friday in the U.S. District Court for the Central District of California. It alleges that Kardashian and Mayweather led investors into a crypto ‘pump and dump’ scam.
A New York resident named Ryan Huegerich is suing the company behind the EthereumMax (EMAX) cryptocurrency and those that promoted it at the time. The plaintiff stated that he was acting on behalf of everyone who bought the EMAX tokens between May 14 and June 27, 2021.
The defendants, who include Boston Celtics star Paul Pierce, are accused of making “false or misleading statements to investors about EthereumMax through social media advertisements and other promotional activities,” according to a Wall Street Journalreporton Jan. 11.
EthereumMax is a “speculative digital token created by a mysterious group of cryptocurrency developers,” according to the lawsuit. The plaintiff did not disclose how much he spent or lost on EMAX but claimed to have “suffered investment losses as a result of Defendants’ conduct.”
Floyd Mayweather shilled the token in May 2021 when it was promoted as an exclusive way to buy tickets for a pay-per-view fight between Mayweather and Logan Paul scheduled the following month.
According to the lawsuit, the pro-boxer and members of his entourage wore EMAX t-shirts while attending a Bitcoin conference in Miami a couple of days before the fight.
Former NBA player and sports commentator, Paul Pierce, also promoted the token in atweeton May 27 when he said “@espn I don’t need you. I got @ethereum_max. I made more money with this crypto in the past month then I did with y’all in a year.”
Kim Kardashian,who is trying to become a lawyer herself, plugged EMAX to her 278 million followers on Instagram. The reality TV star asked her followers on the social media platform to join the “Ethereum Max Community”. According to a screenshot from the complaint, she wrote:
“Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token,”
The plugging caught the attention of the head of the U.K.’s Financial Conduct Authority, Charles Randall, who said in September that she was fraudulent with “the financial promotion with the single biggest audience reach in history,” before adding that there was a need for a “permanent and consistent solution to the problem of online fraud from paid-for advertising.”
The amount sought in the class action was not specified but it did state it was seeking “all actual, general, special, incidental, statutory, punitive, and consequential damages and restitution.”
EMAX tokens have collapsed by 97.2% from their late-May all-time high of $0.000000597. It is currently trading at $0.000000016 and volumes are minimal.
According to CoinGecko, the token surged more than 20,000% on May 31 but had collapsed to a fraction of this by mid-June.
Thisarticlewas originally posted on FX Empire
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• Silver Prices Rise as Fed Chair Powell Testifies || Bitcoin and Ether Bears In Control, XRP Rally Reverses Amid Selling Pressure: After a failed attempt above $48,000,bitcoinprice started a fresh decline. There was a clear break below the $47,000 support zone and the 21 simple moving average (H1).
The bears even pushed the price below the $47,000 and $46,500 support levels. The price is now approaching the $45,550 support zone. The next major support is near $45,200. Any more losses could send the price towards the $43,500 level.
On the upside, the price is facing resistance near $46,600. The main hurdle is now forming near the $47,000 zone and a key bearish trend line on the hourly chart.
Etheralso followed a bearish path after there was a close below the $4,000 support It is now moving lower and trading below the $3,950 level. There was also a break below the $3,900 support zone and a close below the 21 simple moving average (H1).
The next major support is near $3,750. If there are additional losses, the price could decline below $3,700.
On the upside, the price could face resistance near the $3,850 level. The main resistance is near the $3,950 level, the 21 simple moving average (H1), and a connecting bearish trend line on the hourly chart. A close above $3,950 is needed for a sustained upward move.
XRPstarted a fresh increase after it formed a base above the $0.7620 level. The price gained pace above the $0.800 and $0.850 resistance levels. The price even climbed above the 50% Fib retracement level of the downward move from the $0.9400 swing high to $0.7630 low.
There was a clear break above a major bearish trend line with resistance near $0.8200 on the 4-hours chart. The price settled above the $0.850 level and the 21 simple moving average (H4).
However, the price failed to gain strength for a move above the $0.9150 and $0.9200 levels. There was a major bearish reaction below the $0.9000 level.
The price even broke the $0.8500 support. It is now testing the $0.8250 zone and the 21 simple moving average (H4), below which it could revisit the $0.8000 support zone.
Cardano (ADA)declined 6% and the bears are now attempting a break below the $1.20 support. If they succeed, there is a risk of a move towards the $1.15 level.
Binance Coin (BNB)is declining and approaching the USD 500 level. It is down 5% and there could be a move below the USD 500 level. The next key support is $480, below which the price could test $465.
Polkadot (DOT)is down 7% and trading below the $25.00 level. An immediate support is near the $23.20 level. Any more losses could push the price towards $22.50 level. On the upside, the bears might remain active near $25.00.
A few trending coins areREV,YFI, andLEO. Out of these, REV rallied over 15% and there was a move above the USD 0.0105 level.
Thisarticlewas originally posted on FX Empire
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• More Than a Quarter of All Bitcoin in Circulation Is Controlled by Few Investors || U.S. files action to return $150 Million in alleged embezzled funds to Sony: WASHINGTON (Reuters) - The United States filed a civil forfeiture complaint on Monday to return more than $154 million in funds that were allegedly stolen from a subsidiary of Tokyo-based Sony Corp and then seized by law enforcement during the FBIs investigation of the theft, the U.S. Justice Department said. Rei Ishii, an employee of Sony Life Insurance Company Ltd in Tokyo, allegedly embezzled the property in May and converted it to more than 3,879 Bitcoins valued today at more than $180 million, the department said in a statement. Those funds were seized by law enforcement on Dec. 1, based on the FBI investigation, it said. Ishii allegedly falsified transaction instructions, causing the funds to be transferred to an account he controlled at a bank in La Jolla, California, and converted them to Bitcoin, according to the complaint filed in federal court in the Southern District of California. "All the Bitcoins traceable to the theft have been recovered and fully preserved. Ishii has been criminally charged in Japan," the Justice Department said. (Reporting by Mohammad Zargham; Editing by Sonya Hepinstall) || The Crypto Daily – Movers and Shakers – November 29th, 2021: Bitcoin, BTC to USD, rallied by 4.70% on Sunday. Following a 1.79% gain on Saturday, Bitcoin ended the week down by 2.29% to $57,356.
Bearish through most of the day, Bitcoin fell to a late afternoon intraday low $53,458 before making a move.
Bitcoin fell through the first major support level at $53,892 and the 23.6% FIB of $53,628.
Late in the day, however, Bitcoin rallied to an intraday high $57,469.
The rebound saw Bitcoin break through the first major resistance level at $55,510 and the second major resistance level at $56,228 to end the day at $57,300 levels.
The near-term bullish trend remained intact, in spite of the latest pullback to sub-$54,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Sunday.
Polkadot andCrypto.com Coinbucked the trend, falling by 2.83% and by 6.74% respectively.
It was a bullish day for the rest of the majors, however.
Ethereumled the way, rallying by 4.88%, withBitcoin Cash SV(+3.65%) andCardano’s ADA(+3.28%) finding strong support.
Binance Coin(+1.86%),Chainlink(+2.92%),Litecoin(+2.25%), andRipple’s XRP(+2.47%) trailed the front runners, however.
It was also a mixed week ending 28thNovember for the majors.
Binance Coin and Crypto.com Coin led the way, gaining 4.66% and 6.43% respectively, with Ethereum (+0.83%) also bucking the trend.
It was a bearish week for the rest of the majors, however.
Cardano’s ADA (-13.11%) and Chainlink (-14.74%) led the way down, with Litecoin (-9.86%), Polkadot (-12.75%), and Ripple’s XRP (-8.60%) also struggling.
Bitcoin Cash SV saw a modest loss of 5.17%, however.
In the week, the crypto total market rose to a Thursday high $2,689bn before sliding to a Friday low $2,334bn. At the time of writing, the total market cap stood at $2,539bn.
Bitcoin’s dominance fell to a Thursday low 41.75% before rising to a Friday high 43.31%. At the time of writing, Bitcoin’s dominance stood at 42.81%.
At the time of writing, Bitcoin was up by 0.37% to $57,567. A mixed start to the day saw Bitcoin fall to an early morning low $57,201 before rising to a high $57,977.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day.
At the time of writing, Crypto.com Coin was up by 2.83% to lead the way.
Bitcoin would need to avoid the $56,094 pivot to bring the first major resistance level at $58,731 into play.
Support from the broader market would be needed for Bitcoin to break out from this morning’s high $57,977.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of an extended rally, Bitcoin could test resistance at $60,000 levels before easing back. The second major resistance level sits at $60,105.
A fall through the $56,094 pivot would bring the first major support level at $54,720 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $52,083. The 23.6% FIB of $53,628 should limit the downside.
Thisarticlewas originally posted on FX Empire
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• AUD/USD Forex Technical Analysis – Likely to Plunge to .6991 if .7106 is Taken Out With Heavy Selling Volume || Sign up to The Independents free cryptocurrency expert panel event: (The Independent ) The price of cryptocurrency is seemingly in constant flux which causes a gauntlet for investors to run week to week and day to day. Bitcoin remains in limbo following last weeks flash crash, which some analysts mistook for the start of a bear market that would see its price continue to tumble in the short term. None of this is new with cryptocurrency making headlines for years, but its unpredictable nature and complex myriad of currencies means for many it is an area too daunting to delve into. For those who have taken the plunge and invested there have been those who have become millionaires and even billionaires as a result, while there are those who have also lost a considerable amount as the price proves to be a constant rollercoaster for investors. To decipher exactly how cryptocurrency works, how to invest and what the future looks like for the likes of bitcoin (BTC), Ethereum (ETH) and Cardano (ADA), The Independent is hosting an expert panel to explore the ins and outs of digital money. The virtual event , which is free to attend, will be hosted by our own crypto expert, tech writer Anthony Cuthbertson and he will be joined by digital currency leaders who will be able to give their first-hand account of trading in the online market. One of the panellists is none other than Fred Schebesta, a co-founder of financial comparison website Finder, self-made entrepreneur with an estimated net worth of $214million. Another is Dr Iwa Salami from the University of East London, who is an associate professor in financial law and an expert in FinTech and crypto regulation. The third and final panellist is Will Harborne, CEO of the decentralised crypto exchange DeversiFi, who is able to share his vast experience in the decentralised finance space and explain the opportunities it presents for traders and investors heading into 2022. The expert panel will be held on 15 December at 6.30pm (GMT). To find out more and sign up for free click here . Read More Story continues How bad is bitcoin for the environment really? Crypto experts discuss bitcoin price predictions What is Solana? The crypto rising 200-times faster than bitcoin
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 36954.00, 36852.12, 37138.23, 37784.33, 38138.18, 37917.60, 38483.12, 38743.27, 36952.98, 37154.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-09-09]
BTC Price: 21381.15, BTC RSI: 54.78
Gold Price: 1716.20, Gold RSI: 42.53
Oil Price: 86.79, Oil RSI: 43.58
[Random Sample of News (last 60 days)]
Bitcoin dips below $20,000: (Reuters) -Bitcoin dipped below $20,000 on Saturday, continuing a drop that has taken it down nearly 60% from its year high. Bitcoin, the world's biggest and best-known cryptocurrency, was last down 1.5% at $19,946 on Saturday, down $298 from its previous close. It is down 58.7% from the year's high of $48,234 hit on March 28. Ether, the coin linked to the ethereum blockchain network, meanwhile dipped 2.76 % to $1,467.2, losing $41.60 from its previous close. Bitcoin's fall comes after a weak day on Friday for the currency, which fell as Wall Street slumped with all three benchmarks ending more than 3% lower. The weakness in risk assets came after Federal Reserve Chief Jerome Powell cautioned against expecting a swift end to its rate tightening. The Fed's actions on interest rates has caused some investors to forecast more pain for equities. "Bitcoin broke below 20,000 as investors expect a weekend full of pessimism from Jackson Hole to drag down sentiment," Edward Moya, senior market analyst at OANDA, said on Saturday. "European and Asian central bankers will likely be much more pessimistic than Fed Chair Powell and that has many traders bracing for a weak open on Sunday night," he added. Bitcoin was last below $20,000 in mid-July. (Reporting by Akriti Sharma in Bengaluru and Megan Davies in New York; Editing by Bill Berkrot and Chizu Nomiyama) View comments || First Mover Americas: Bitcoin Has Best Day in a Month, but Ether’s Getting Even More Love: Good morning, and welcome to First Mover.I’m Lyllah Ledesma, here to take you through the latest in crypto markets, news and insights.
• Price Point:Crypto markets were suddenly looking bullish on Monday as bitcoin had its best day of the year, and ether, the second-biggest cryptocurrency, posted even bigger gains, amid speculation that a rally might be in the making ahead of the Ethereum network’s upcoming"Merge."
• Market Moves:Omkar Godbole looks at the Merge's market impact in depth and ETH's staked derivative on Lido finance called stETH.
This web version of today's First Mover newsletter was produced by Sage D. Young.
Bitcoin (BTC) was trading up 5% on the day, hitting its highest level in over a month. The world’s largest cryptocurrency by market capitalization has not traded above $22,000 since June 16, 2022.
BTC traded as low as $18,800 last week and has made significant gains since, trading up 11% over the last seven days.
But the big story of the day in crypto markets was ether (ETH), the second-largest cryptocurrency, which is picking up momentum in advance of a big upgrade now expected in September.
Ether has accelerated its rally Monday morning, outperforming bitcoin, perhaps an indication that the market is starting to take the network’s upcoming “Merge” seriously.
ETH was trading up 10% over the last 24-hours at $1,477. On Friday, a member of the Ethereum communitytweetedan outline of dates for the long-awaitedMergeand prior events. The Merge is set to take place on Sept. 19, 2022.
“The upcoming Merge is definitely a case for the hype in ETH,” said Laurent Kssis, head of Europe at crypto asset manager Hashdex. Kssis noted that short ETHliquidationswere triggering buy orders which also accelerated the positive price movement.
Over the last seven days there has been a general catch up foraltcoins, with Polygon’sMATICup 62%, AVAX by 37% andNEARby 24%.
In traditional markets, U.S. stock futuresroseafter Goldman Sachs posted astronger-than-expectedsecond quarter profit. Futures tied to the S&P 500 rose 1.1%, and Dow Jones Industrial Average futures added 1% while technology-heavy Nasdaq 100 futures gained 1.3%.
[{"Asset": "Polygon", "Ticker": "MATIC", "Returns": "+17.8%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "+12.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+10.5%", "DACS Sector": "Smart Contract Platform"}]
There are no losers in CoinDesk 20 today.
By Omkar Godbole
Renewed clarity about the timeline of programmable blockchain Ethereum's highly-anticipated "Merge" upgrade, dubbed Ethereum 2.0, seems to have galvanized investor interest in ether and its staked derivative on Lido finance called stETH, offering a reprieve to the battered cryptocurrencies.
On Thursday, the Ethereum Foundation member Tim BeikosuggestedSept. 19 as the provisional launch date for the Merge, which will see the world's biggest smart contract blockchain transition from the energy-intensiveproof-of-workconsensus mechanism to a more environment-friendlyproof-of-stakemechanism.
Since Beiko's announcement, ether has rallied roughly 22%, hitting a one-month high of $1,475, according to CoinDesk data. The token registered a 15% gain in the seven days to July 17, the biggest jump since March.
The staked ether's discount relative to the price of ether has narrowed to 0.98 from 0.96 since Thursday, per data source CoinMarketCap. The token representing an equivalent amount of ether staked in Lido Finance is supposed to trade at a price closer to ether. stETH's pricefell intoa discount of 0.93 to ETH following the collapse of Terra in May and has not been able to recover since. Lido Finance is a liquid staking protocol allowing users to stake coins while retaining liquidity and bypassing the burden of owning a minimum of 32 ETH to become a staker. Users can redeem staked ETH for ETH only after transfers are enabled on Ethereum 2.0.
"ETH has undergone a rapid change in narrative over the past week with speculators purely focused on the upcoming 'Merge' as a catalyst for appreciation," said Matthew Dibb, COO and co-founder of Stack Funds. "Adding to this, we believe that there is a significant amount of sidelined capital that has been waiting on bullish momentum to establish new positions."
Several observersconsiderEthereum's impending transitionequivalent tothree bitcoin halvings – a programmed code that halves the per block BTC supply every four years – and leading to a 90% reduction in ether's annual issuance. Simply put, the transition is likely to bring a store of value or deflationary appeal to ether. The upgrade has been long pending.
Like other market participants, ether investors tend to factor in bullish developments in advance. For instance, ether rallied over 60% to $2,800 in the three weeksleading up tothe Londonhard fork, or code modification, implemented on Aug. 5, 2021. The hard fork activated a mechanism to burn the portion of fees paid to miners.
The Ethereum 2.0 upgrade has been long overdue and has seen several delays. However, the recent successful merges of theRopstenandSepoliatestnets and the Goerli testnet's planned transition to proof-of-stake on for Aug. 11 has raised hopes for the mainnet merge in September.
Read the full story here:The 'Merge Trade' Has Begun, Experts Say, as Ether Surges and stETH Discount Narrows
• The 'Merge Trade' Has Begun, Experts Say, as Ether Surges and stETH Discount Narrows: "ETH has undergone a rapid change in narrative over the past week, with speculators purely focused on the upcoming 'merge' as a catalyst for appreciation," one observer said.
• Australian Central Bank Chief Believes Regulated Private Tokens Could be Better Than CBDCs, Reuters Reports: Governor Phillip Lowe spoke at a panel discussion at the G20 finance officials' meeting in Indonesia on Sunday.
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• Indian Finance Minister Echoes Central Bank's Crypto Ban Call, but Says Global Collaboration Is Required: Finance Mister Nirmala Sitharaman made her comment in answer to a series of written questions from a member of parliament about cryptocurrency legislation.
• Binance Fined Over $3.3M by Dutch Central Bank: The fine was issued as the exchange continued to offer services in the Netherlands without proper registration. || 7 Penny Stocks to Sell Before They Go to Zero: The first half of 2022 for the stock market was the worst since 1970. Consequently, investors are forced to re-evaluate their portfolios and discard risky assets. Therefore, the topic of which penny stocks to sell is highly pertinent at this point. Many would consider the current market situation an incredible opportunity to load up on high-quality penny stocks. Adding them to your portfolio might significantly increase its upside potential. However, there’s a flip side to that scenario. There might be plenty of those penny stocks you picked up out of greed and probably should’ve avoided. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Here are seven penny stocks to sell before they fall to zero and those you should discard. IBIO iBio $0.28 SOLO ElectraMeccanica $1.43 NBEV NewAge $0.15 EXPR Express $1.40 TMC TMC Metals $0.98 HYZN Hyzon Motors $1.99 EOSE Eos Energy Enterprises $1.88 iBio ( IBIO ) A scientist in medical gear peers through a microscope. Source: Shutterstock iBio (NYSEAMERICAN: IBIO ) is among the more obscure biotechs that burst onto the scene during the pandemic. It came to the fore early in the vaccine race when it announced two candidates in IBIO-200 and IBIO-201. Consequently, its shares shot to the moon. However, after failing to deliver on its promises, IBIO stock tanked by over 78% in the past year. Fast forward to 2022, with the pandemic in the rear-view mirror, iBio’s vaccine candidates still haven’t hit the markets, making it among the medical penny stocks to sell now. It recently reported its third-quarter results , generating almost the entirety of its sales from royalties. It seems to be going nowhere with its future long-term plans as a biotech, with most of its pipeline in the early development stages. This is a stock that will likely be worth nothing in the future. ElectraMeccanica ( SOLO ) The Solo vehicle from Electra Meccanica Vehicles (SOLO) drives through Vancouver Source: Luis War / Shutterstock.com ElectraMeccanica (NASDAQ: SOLO ) is a Canadian electric vehicle (EV) producer that is looking to commercialize its three-wheeled approach. Story continues Four-wheeled cars are ubiquitous in the global automotive space; however, SOLO aims to change that and carve out a niche of its own. It not only has to convince customers to buy an EV and buy it in a form that is completely new to them. The chances of that happening on a wide scale seem unlikely, making it one of the EV penny stocks to sell while you can. SOLO has some lofty plans to scale production fast and potentially produce 20,000 of its cars each year . However, investors don’t seem to be buying into its plans for now, as the stock shed over 50% of its value in the past 12 months. Scaling production is no easy task, especially with just its relatively small cash balance. NewAge ( NBEV ) 30 Marijuana Stocks to Buy as the Future Turns Green Source: Shutterstock NewAge (NASDAQ: NBEV ) is a developer, marketer and distributor of healthy products in the U.S. and other parts of the world. It became popular over the years for its CBD-infused beverages. However, the business recently filed for bankruptcy protection after failing to meet its debt obligations. It plans to pursue the sale of its business through a court-supervised auction. One of its bidders has offered just $28 million to pick it up, an insufficient amount needed for recovery for stockholders. NBEV has been burning through heaps of cash, and it’s unlikely to see any higher bids appear in the upcoming auction process. It lacks a viable long-term business model, with an inability to generate profits. Its equity holders are doomed, and it may be best to liquidate holdings before they go to zero. Express ( EXPR ) the storefront of an Express store in a mall. EXPR stock Source: Helen89 / Shutterstock.com Express (NYSE: EXPR ) has been a meme stock in the past couple of years. The high-end apparel retailer saw a healthy bump in sales during the pandemic with the rampant increase in online buying. With the economy down in the doldrums and post-pandemic headwinds in play, it’s tough to see a recovery in sight. EXPR finances its operations primarily through debt, with roughly $849 million in total debt and just $37.7 million in cash. In the current market scenario, there is little wiggle room for it to mount a comeback. The leveraged retailer markets to people with high disposable income within the 18-30 age brackets. Discretionary buying has slowed down, and Express is unlikely to thrive in the current scenario making it among the clothing penny stocks to sell while you can. TMC Metals ( TMC ) Mining cart in a silver, copper, and gold mine Source: TTstudio / Shutterstock TMC Metals (NASDAQ: TMC ) is a Canadian small-cap mining concern that became public via the SPAC craze been destroying shareholder value ever since it went public. The company has big plans to explore nickel, cobalt, copper and other metals to collect, process and refine nodules found on the seafloor. Given the proliferation of EV production, it has some tailwinds for future production for the EV manufacturing process. The company has recently raised funds to beef up its cash position before its test campaign. Moreover, it will test whether nodule extraction is feasible on a commercial scale. Nonetheless, the execution of commercial operations is up in the air, with International Seabed Authority not giving much approval. Hyzon Motors ( HYZN ) A person refueling a hydrogen car representing Hyzon Motors (HYZN) stock. Source: Literator / Shutterstock.com Shares of fuel cell electric vehicle producer Hyzon Motors (NASDAQ: HYZN ) were taken to the cleaners last year after being hit by fraud allegations from short-sellers . The disclosures that followed lend plenty of credibility to those reports. The firm has withdrawn all financial and operational guidance. Moreover, its operations in Europe require restructuring, and its board has hired third-party consultants to assess its global strategies and operations. Hyzon’s reported financials and outlined strategy has essentially become null and void. Its long-term strategies are unclear, while its stock continues to be in free fall. Hence, with claims essentially a sham, there’s hardly any incentive to invest in it. Eos Energy Enterprises ( EOSE ) a line of AA batteries to represent battery stocks Source: Shutterstock Eos Energy Enterprises (NASDAQ: EOSE ) aims to become a utility-scale battery producer with its smart Zinc-ion-based platform. It’s experienced its fair share of swings in its stock price, but with the current risk-off environment, its stock has shed over 80% of its value. The key issue with the business is its inability to limit costs, as rampant cost increases across the board offset any meaningful bump in sales. In the past few quarters, its operational costs have risen by double-digit margins while its business structure and ability to commercialize batteries remain challenging. Moreover, it doesn’t have the cash to back up its growing cost base. Eos received $100 million from Koch industries, but that money has evaporated already. It’s now running on hardly $16 million in cash . Therefore, its outlook remains mighty bleak at this time. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 7 Penny Stocks to Sell Before They Go to Zero appeared first on InvestorPlace . || Web3 Super App Omni Goes Live Ahead of Ethereum Merge, Supports Over 27 Blockchain Protocols: New York City, New York --News Direct-- Omni Omni , the next generation Web 3 super app, launched today, September 7, 2022, ahead of the Ethereum Merge to give users the most powerful platform to access all of Web 3. Omni is a full-service, self-custodied cryptocurrency wallet making it seamless to stake a variety of tokens, manage assets cross-chain, and collect and display NFTs. The next generation cryptocurrency wallet is currently available on mobile for iOS and Android , making it incredibly simple for Web3 users to manage their cryptocurrency portfolios directly from their mobile device. Omni could not have launched its rebrand at a better time. Ahead of the Ethereum Merge, users are becoming increasingly curious about crypto staking, and it provides a relatively low-risk way to earn an APY on one’s crypto holdings. Moreover, centralized exchanges like Celsius and Voyager have faced insolvencies, restricting the withdrawal of assets on these platforms. With this in mind, users are flocking towards self-custody solutions to manage their digital assets, and Omni provides a full-suite solution for just that. A common problem Web3 users face is account management, as many cryptocurrency wallets are chain specific, meaning that users have separate wallets for Bitcoin, Ethereum, and other blockchains. Omni supports over 27 chains, with top layer 1 and layer 2 networks supported. With the adoption of Ethereum layer 2s increasing even through the bear market, users can easily bridge assets and manage funds on layer 2s using Omni. Investors who are priced out of Ethereum’s blockchain often need a cryptocurrency wallet that supports layer 2s, as these networks allow users to interact with DeFi and NFTs without high transaction fees. Users that are new to cryptocurrency can benefit from using Omni, as its features go beyond digital asset management. Its news feed lets users stay up-to-date with recent market trends and industry events, and its explore feature exposes users to a suite of extremely useful DeFi and NFT protocols. Moreover, the process of crypto staking on Omni is much more simple than using traditional software wallets like Metamask. Omni has revolutionized the staking landscape through its signature three-tap staking mechanism. Instead of switching between networks, accessing separate dApps, and bridging cryptocurrencies to different networks, users can stake crypto with 3 taps from their phone. Omni’s native staking roster includes support for MATIC, SOL, AVAX, SUSHI, AKT, NEAR, ATOM, BNB, and CELO. Moreover, the wallet supports liquid staking, meaning that you can keep your assets liquid while earning interest on your tokens––this opens the floodgates for cryptocurrency yield farming via Omni. Story continues Omni’s founder commented on how Omni is uniquely positioned with its 3-tap staking mechanism, dubbed the Omni SDP: “Omni’s proprietary Smart Delegation Protocol (SDP) powers our staking technology, which operates as a custom smart contract middleware directly on the supported protocol SDKs,” said founder and CEO Serafin Lion Engel. He continued, “The SDP bundles transactions and thereby provides the same three-step flow across all yield-bearing integrations (whether these are native or liquid staking based integrations, vault products, or lending markets), regardless of the underlying complexity. The Omni SDP comprises custom-built modules for every type of integration launched, from dealing with rebasing stake accounts in authority-based systems such as Solana, or moving tokens between distinct blockchains for Avalanche and Binance Smart Chain. Our underlying infrastructure ensures that the staking steps are tracked in real time and alerts users when additional action is required. After over one year in the making, the Omni SDP spans more than 27 protocols, and provides CeFi-like UX, while being fully self-custodial and offering the fastest staking experience.” By providing users the ability to bridge and swap across all major blockchains directly in the wallet and having the broadest NFT support of any wallet, Omni truly is setting the bar as the most advanced wallet in Web 3. "We wanted Omni to be more than a wallet; we wanted it to be the one app that could do anything you'd want to do in Web 3. And we wanted to achieve this with it being fully self-custodial, which is of course the hard part. We wanted to show people that you could build something that had the same convenience as CeFi, but was fully DeFi” Engel said. “It took us a long time to build, but we couldn't be more excited to give it into people's hands just before the Ethereum Merge." Omni is a next generation cryptocurrency wallet that supports Bitcoin Ethereum and over 25 other blockchains. It aims to make Web3 as simple as using a Coinbase account, with unique features such as 3-tap crypto staking and cross-chain interoperability. Collect NFTs, interact with DeFi, and start exploring the rabbithole that is blockchain technology on Omni. Omni is a self-custodied cryptocurrency wallet, meaning the user has full control over their funds, adding a level of security centralized cervices can’t provide. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Alexa Anastasia [email protected] Company Website https://omni.app/ View source version on newsdirect.com: https://newsdirect.com/news/web3-super-app-omni-goes-live-ahead-of-ethereum-merge-supports-over-27-blockchain-protocols-986077893 View comments || Money Makeover: ‘We’ve downsized – but how do we invest our spare £250,000?’: Mike Edwards, 84, has been grappling with the ultimate downsizer conundrum.
Mr Edwards and his wife Jennifer, 74, sold their family home in Warwickshire in June for £1.12m. “We needed somewhere smaller and more manageable,” Mr Edwards said. But they got hit bythe property supply crunch: “We couldn’t find anywhere to move to.”
Instead, they have rented a bungalow for a year, paying £2,200 per month while they house-hunt. Now, they think they have found a home they like and expect to pay around £800,000 when they buy.
This will leave them with about £250,000 in cash – and another conundrum. “We want to put it somewhere but we are completely at a loss as to where. We are not at an age where we can wait out market downturns,” Mr Edwards said.
The couple has a combined income from their pensions of about £60,000. “We are living comfortably within our means, we just want to keep the money safe to cover the possible costs of healthcare, and so we can be confident to spend a bit more of our pension income now,” Mr Edwards said.
They have not had a foreign holiday since the pandemic began, he added. “We would like to go on some more expensive trips to southern Europe – particularly the Italian lakes.”
The couple each have stocks and shares Isas, as well as investment portfolios with Quilter. Their main holdings are similar, and include Jupiter Corporate Bond, Allianz Gilt Yield and GlaxoSmithKline. Altogether, their investments are worth more than half a million.
They are open to new ideas for their downsizing windfall. “We were thinking of stocks and shares, and property is a possibility. We want as diverse a portfolio as possible.”
Mr Edwards wants a safe haven for the cash, but they need enough growth tostop it disappearing to high inflation.
It is sensible to have a cash buffer – perhaps of £25,000. Kent Reliance and Shawbrook banks offer instant access savings rates that are not far off the Bank Rate.
I would also recommend Mr and Mrs Edwards put £25,000 each in Premium Bonds. They are better for higher rate taxpayers than basic rate, but the prize fund is now 1.4pc (up from 1pc in May).
This would leave £175,000 to be invested. Infrastructure – which includes things like road, rail, electricity generation and mobile phone towers – is an excellent asset class to help combat the effects of inflation. This is because many infrastructure assets are directly linked to inflation through contracts or regulated pricing.
Two funds to consider are First Sentier Responsible Listed Infrastructure and Time UK Infrastructure Income. There is no real crossover between the funds. Mr and Mrs Edwards could also look at some of the specialist renewable energy investment trusts such as Downing Renewables & Infrastructure and Foresight Solar, although the Time fund will possibly hold these.
The next area I would look to are the funds and investment trusts that are committed to beating inflation, and protecting a person’s initial capital from being eroded. In this bucket I would include Personal Assets (or its sister fund Troy Trojan), Ruffer Investment Company, Capital Gearing and Pyrford Global Absolute Return.
They all do things slightly differently. Personal Assets only invests in gold, high-quality equities and inflation-linked government bonds. Ruffer, on the other hand, will invest in more esoteric areas, such as the holding it had in Bitcoin at the end of 2020.
None of the suggested investments will shoot the lights out, but in a bear market they should be resilient. A return of 5pc per annum over the long term would be a reasonable expectation. Over a 10-year period, the £175,000 pot would grow to £285,000.
These investments will diversify their existing portfolios. It goes without saying that they should continue to use their Isa allowances.
In the bank, this money will lose value to inflation. In stocks and shares, value can be eroded in the space of a day.
Residential property, however, tends to hold and grow its value, making it an attractive investment option to protect the Edwards’ wealth.
Savills estate agents has forecast mainstream house prices will grow by 17.4pc over 2022 to 2026, which equates to average growth of 3.48pc per year.
Market growth is a helpful indicator, but not all property is equal. There are many considerations: geography, type of property, quality of property and type of tenant.
To protect their wealth, the Edwards should invest in property in locations with stable and growing values. They should consider areas with stronger jobs markets, transport infrastructure, amenities and inward investment (from government and private companies). One helpful indicator is where major supermarkets locate, as they tend to choose areas with strong current and future demand.
The Edwards need to make sure there are good reasons for people to want to live in the area in five, 10 and 20 years’ time; examples include Bolton, Derby and Hastings. With a good agent, they should not need to visit regularly.
Freehold properties (typically houses) are best for low-hassle investments. It may be sensible to focus on homes that have been recently built or refurbished, to minimise the need to make improvements themselves.
In addition to house price growth, properties of this type in attractive regional growth areas typically offer rental yields of 3pc to 8pc, depending on the quality of the property.
Since the Edwards are looking to keep risks to a minimum, and due to their age, it would be sensible to buy using cash. This can easily be done in their personal names, rather than through a limited company structure (which would be more tax efficient if they were paying mortgage interest).
They would need to factor in the additional stamp duty surcharge of three percentage points, along with costs for conveyancing, a building survey and works to make the property compliant with rental regulations.
Reader Service:Isdownsizingthe right move for you? Learnhow equity release workscould help you stay in your own home for retirement.
Would you like a Money Makeover?Click hereto find out how || DMG Announces Change of Auditor and Provides July Preliminary Mining Results: DMG Blockchain Solutions Inc. VANCOUVER, British Columbia, Aug. 11, 2022 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, announces its change of auditor and its July mining results. Change of Auditor DMG announces the change of its auditor from Manning Elliott LLP (“Manning Elliott”) to Kingston Ross Pasnak LLP (“KRP”). The Company will be working closely with KRP in order to file its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended September 30, 2022 (the “Annual Filings”). In discussions with the Company, Manning Elliott resigned as the auditor of the Company. The Board of Directors accepted the resignation of the former auditor of the Company and appointed KRP as the new auditor until the close of the Company's next Annual General Meeting. There are no "reportable events" including disagreements, consultations or unresolved issues (as the terms are defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Company and the former auditor (Manning Elliott). There were no reservations or modified opinions in the former auditor's reports on the Company's financial statements during the period that the former auditor acted as the Company's auditor. In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the former auditor and the successor auditor, have been reviewed by the Company's Audit Committee and will be filed on SEDAR accordingly. July Preliminary Mining Results In July 2022, DMG mined 54 bitcoin and added no additional mining capacity. DMG expects to receive additional miners during August 2022 and thus anticipates an increase in its mining capacity once the bitcoin miners are installed and operating. DMG’s bitcoin balance as of July 31, 2022 was 324 BTC. DMG is on-target with respect to its original schedule for received miner deliveries for growing its hashrate to 1 EH/s by the end of 2022, subject to the receipt, installation and operation of the additional miners. About DMG Blockchain Solutions Inc. DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG's sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG's vertical integration. Story continues Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG's production of Bitcoin, and future operating results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty. For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel . On behalf of the Board of Directors, Sheldon Bennett, CEO and Director For further information, please contact: DMG Blockchain Solutions Inc. Email: [email protected] Web: www.dmgblockchain.com Investor Relations Contact: CORE IR (516) 222-2560 For Media Inquiries: Jules Abraham, Head of Communications CORE IR (917) 885-7378 [email protected] Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding the potential of the patents, Core+ strategies and plans, potential increase in revenues from the patents and software products, developing and executing on the Company's products and services, the expected date of the AGSM, the expected arrival of new miners and the increased hashrate, working with other platforms to diversify revenues, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products and services; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG's bitcoins; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products and services, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on www.SEDAR.com. In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, adverse weather and climate events, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above. View comments || 7 Warren Buffett Stocks Trading at a Huge Discount Right Now: Even the best of us make mistakes or dive into an investment too early, which explains the concept of Warren Buffett stocks trading at discount. Though investors tend to hang on every word that comes out of the “Oracle of Omaha’s” mouth, he has never been one to attempt to time the market with the precision of a laser-guided bomb. Instead, Buffett emphasizes playing the long game.
Indeed, Buffett once advised that the “stock market is designed totransfer money from the active to the patient.” At the same time, everyone loves a good discount. And although no one is really enjoying the uncertainty that present economic conditions have imposed, they have also enabled Warren Buffett stocks trading at discount.
• 7 Dividend Stocks to Buy on the Dip
Essentially, the strategy is as follows: based on the holdings of Buffett’s multinational conglomerateBerkshire Hathaway(NYSE:BRK-A, NYSE:BRK-B), investors can identify certain companies trading at a relative discount that are also fundamentally relevant. In other words, these Warren Buffett stocks trading at discount likely won’t be deflated for long.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"Ticker": "KO", "Company": "Coca-Cola", "Price": "$64.13"}, {"Ticker": "MA", "Company": "Mastercard", "Price": "$350.21"}, {"Ticker": "HPQ", "Company": "HP", "Price": "$32.81"}, {"Ticker": "PARA", "Company": "Paramount Global", "Price": "$24.25"}, {"Ticker": "NEM", "Company": "Newmont", "Price": "$45.49"}, {"Ticker": "CE", "Company": "Celanese", "Price": "$119.09"}, {"Ticker": "RH", "Company": "RH", "Price": "$270.32"}]
Source: Fotazdymak / Shutterstock.com
If you follow the Oracle’s money advice, you’ll know that he has quite a sweet tooth. Indeed, the man is fond ofCoca-Cola(NYSE:KO), which through Berkshire Hathawayowns about 10% of the soft-drink giant. For curious readers, Buffett apparently craves Cherry Coke.
Thanks to the troubles of the economy, KO is also one of the Warren Buffett stocks trading at discount. At the closing bell of July 22, KO found itself down 1.6% over the trailing five days. In the trailing month, shares are down half-a-percent below parity.
Is this the greatest discount ever? Not even close. However, what makes the company compelling is its fundamentals. First, the cynical argument:intake of poor quality elementsincrease during recession, which bodes favorably for the soft-drink king. Second, Coca-Cola features robust profitability metrics, with a net margin of 25.7% well exceeding the median 5.35% for the beverage industry.
Source: Alexander Yakimov / Shutterstock.com
Another intriguing and cynical name among Warren Buffett stocks trading at discount isMastercard(NYSE:MA). On a year-to-date (or YTD) basis, MA stock is down about 3%. To be fair, over the past month, shares have swung up more than 6%, suggesting rising momentum. Therefore, this deal might not last indefinitely.
Looking at outside factors, what’s particularly “appealing” about Mastercard is inflation. True, theerosion of currency strength— which equates to about 13 cents on the dollar — naturally hurts spending. On the other hand, with prices of virtually everything going up, households need to make their dollars stretch. Often times, credit cards are the only means available (aside from other drastic alternatives).
• 7 Seriously Undervalued Dividend Stocks to Buy for High Total Returns
Like Coca-Cola, Mastercard also features excellent profitability metrics, something that the Oracle no doubt appreciates. For instance, the financial services giant has an operating margin of 55.3%, far better than the industry median of 16.9%.
Source: Shutterstock
At first glance, acquiring PC and printer manufacturerHP(NYSE:HPQ) doesn’t seem to make a whole lot of sense — even for Warren Buffett stocks trading at discount. Famously, the Oracle of Omaha wasn’t so prescient withIBM(NYSE:IBM), a somewhat similar company that held onto its legacy businesses a bit too long. Eventually, Buffett gave up on IBM.
However, he apparently sees a different situation with HP. For one thing, the move is a classic Buffett play, with the underlying company featuring a robust mix of strengths in the balance sheet and high profitability metrics relative to their industry norms. Notably, HP’sreturn on assets is 16.8%, ranked 95% better than companies in the hardware sector.
Another factor to consider is thelong game. Again, Buffett is a man who emphasizes patience. And over time, HPQ could turn out to be a savvy investment. Of course, right, HPQ stock is down more than 13% YTD. However, there is plenty of room to run over the long term.
Source: Tada Images / Shutterstock.com
While the entertainment arena has been a messy affair this year, that didn’t stop the Oracle via Berkshire Hathaway toacquire about $2.6 billioninParamount Global(NASDAQ:PARA). Unfortunately, the company hasn’t been a stronger performer, with PARA stock down about 20% YTD. Nevertheless, for the risk takers, PARA stocks appears to be one of the Warren Buffett stocks trading at discount.
Mainly, Paramount features a mix of an extensive library of streaming content and acompelling sports programming portfolio. In other words, Paramount gives customers significant bang for their buck, which is why some analysts believe it’s one of the few platforms making the transition to streaming that can be successful in the long run. After all, we’re talking about one of the most competitive business segments around.
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On the financial front, against a basket of valuation metrics, PARA stock is consideredmodestly undervalued. Like many of the relevant Warren Buffett stocks trading at discount, Paramount enjoys strong profitability metrics; in particular, its net margin of 14.3% ranks higher than nearly 84% of competitors in the diversified media space.
Source: Piotr Swat/Shutterstock
If you know anything about the Oracle, you know that he loves his sweets and he absolutelyhates gold. Indeed, the man has been very vocal about his disdain for the yellow metal, declaring that it has little to no value. Specifically, Buffett zeroes in on its lack of usefulness. Once, he stated about gold, “It doesn’t do anything but sit there and look at you.”
Still, mining giantNewmont(NYSE:NEM) is therefore one of the more intriguing ideas among Warren Buffett stocks trading at discount. To be clear, NEM stock isnot a direct holdingof Berkshire Hathaway. Rather, Berkshire acquired the insurance company General Re, through which it owns the holdings of specialty investment service New England Asset Management (or NEAM).
Since NEAM then owns Newmont, it allows Buffett to benefit from the precious metals sector, even if he’s not enamored with the sector. With inflation soaring through the roof, however, NEM stock could eventually recover, making for a potentially lucrative discount.
Source: Shutterstock
While everyone loves piling into the individual players that comprise innovative sectors such aselectric vehicles (or EVs)and automated transportation, it’s incredibly difficult to predict which brand will ultimately win out in the commercial market. However, what all innovations need is access to critical chemicals and commodities, which is whereCelanese(NYSE:CE) enters the frame.
A specialist in the field of differentiated chemistry solutions, Celanese represents the stagehands that help the top thespians put on a great show. Furthermore, the company has relevancies across several sectors, both pioneering and long established. Therefore, CE stock is like selling tickets to the game instead of betting on the spread.
• The 7 Best Industrial Stocks to Buy Now
However, Wall Street doesn’t see it that way, which explains why CE stock is down almost 30% YTD. Still, this also makes it an interesting name among Warren Buffett stocks trading at discount. With a solid balance sheet and excellent profitability metrics, CE is asignificantly undervaluedinvestment.
Source: shutterstock
I’m going to be straight up about upscale home-furnishings firmRH(NYSE:RH) by letting you know that I don’t think it’s a wise investment. With turmoil in the housing market along with devastating inflation, I’m in the camp that real estate prices will decline first before they swing higher. Nevertheless, the topic here is Warren Buffett stocks trading at discount.
Sure enough, the Oracle believes in RH stock, even with shares down almost about 50% YTD. Perhaps it’s the patriotic side talking, but early last year, Buffettwarned investors to never bet against America. Specifically, in his annual letter to Berkshire Hathaway shareholders in 2021, Buffett wrote, “In its brief 232 years of existence … there has been no incubator for unleashing human potential like America.”
Moreover, buying RH stock fits in with his general framework of acquiring good companies that happen to be going through rough circumstances. And despite recent troubles, RH stock commands a decent balance sheet with strong profitability metrics.
Plus, if he believes in it, who are we mere mortals to argue?
On the date of publication, Josh Enomotodid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Warren Buffett Stocks Trading at a Huge Discount Right Nowappeared first onInvestorPlace. || Market Wrap: Bitcoin Rises Slightly Along With Stocks: Bitcoin Rises Slightly Along With Stocks
Bitcoin and other crypto assets rose along with U.S. stocks, which broke a three-day losing streak on Wednesday, as investors' appetite for riskier assets returned.
“Bitcoin is benefitting from a slight risk-on session on Wall Street as stocks try to end a three-day slide,” said Edward Moya, senior market analyst at Oanda.
This article originally appeared inMarket Wrap, CoinDesk’s daily newsletter diving into what happened in today's crypto markets.Subscribe to get it in your inbox every day.
The S&P 500 rose 0.22% and the Nasdaq Composite gained 0.52%.
Moving in sync, bitcoin and ether were recently up 1% and 2%, respectively, according to CoinDesk data. Other blockchain-affiliated assets, including Solana’s SOL and Cardano’s ADA rose by about a percentage point.
Investors have been hesitant to commit over the past few days before the U.S. Federal Reserve’s annual economic symposium in Jackson Hole, Wyoming, where Fed Chair Jerome Powell may offer clues about upcoming monetary policy in a Friday speech.
“We are stuck in consolidation mode before Jackson Hole and that should keep bitcoin supported above the $20,000 level,” Moya said. “Risky assets may be stuck in a range even after Powell's speech on Friday, as not much will be able to deter the Fed's hawkish stance until we get soft inflation [data].”
Powell is expected to give a speech on Friday at 10 a.m. ET that will clarify the central banker’s outlook on inflation over the next couple of months. Traders are also hoping for hints of whether the Fed will hike interest rates by 75 basis points at its next meeting in September, or by 50 basis points. The amount depends on signs inflation is lessening.
Newresearchby the Federal Reserve Bank of New York published Wednesday showed that coronavirus pandemic-induced strong demand was the main driver behind higher U.S. inflation in July, and that without supply chain bottlenecks the inflation rate would have been 6% instead of 9% at the end of 2021.
“In the absence of any new energy or other shock, it is therefore possible that the ongoing easing of supply bottlenecks will cause a substantial drop in inflation in the near term,” the report said.
●Bitcoin (BTC): $21,705+0.8%
●Ether (ETH): $1,681+1.6%
●S&P 500 daily close: 4,140.77+0.3%
●Gold: $1,765 per troy ounce+1.1%
●Ten-year Treasury yield daily close: 3.11%+0.05
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
CoinShares a Good Way to Play the Crypto Recovery, BTIG Analyst Says
By Michael Bellusci
Europe-based digital asset management firm CoinShares (CNSRF) is one of investment company BTIG’s picks for investors to play the recovery across crypto markets along with the growing adoption of digital assets, analyst Mark Palmer told clients in a note Wednesday.
CoinShares, which is Europe's largest digital asset management company, according to BTIG, continues to develop crypto-focused financial products and maintains an edge over peers given the company’s proprietary technology infrastructure, Palmer said.
Palmer says while shares have lagged since the spring, CoinShares’ management is focused on boosting its exposure to physical stakes in exchange-traded funds (ETF) with attractive yields and no management fee.
Sweden-listed CoinShares had about $1.65 billion in assets under management as of June 30, according to itsQ2 report.
BTIG gave CoinShares a buy rating and $5.63 price target (SEK60). Shares were trading on Wednesday down 4.6% to $3.76 (SEK39.85), and have declined more than 50% year to date.
Read the full story here.
• The Ethereum Merge Has an Official Kick-Off Date:The Bellatrix upgrade that begins the final countdown is set to activate on Sept. 6. The Merge itself will be completed at some point between Sept. 10-20.Read more here.
• Tether Sticks to Decision Not to Bar Tornado Cash Addresses:The stablecoin issuer sees a freeze of secondary Tornado Cash addresses as premature, and awaits more clarity from U.S. authorities.Read more here.
• Crypto Lender Voyager Can Pay Employees 'Retention' Bonuses, US Judge Rules:Judge Michael Wiles also agreed to withhold the names and titles of the employees who may receive the bonuses.Read more here.
• Listen 🎧:Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and what could go wrong when building on top of other blockchain projects.
• Law Society of England and Wales Tells Members to Be Wary of Bitcoin Use in Transactions:"This is a cash transaction so there is a high risk of money laundering," the professional body told its members.
• CoinShares a Good Way to Play the Crypto Recovery, BTIG Analyst Says:Europe's largest digital asset management company continues to develop crypto-focused financial products and maintains an edge over peers, said the analyst.
• Ex-SEC Chair Jay Clayton Joins Crypto Investor Electric Capital as Adviser:The news continues a trend of regulatory experts sliding over to jobs in the crypto industry.
• Alleged Tornado Developer Pertsev Must Stay In Jail, Dutch Judge Rules:Pertsev’s arrest for involvement in the now-sanctioned crypto mixer generated consternation in the Web3 community.
[{"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "+9.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "+3.5%", "DACS Sector": "Entertainment"}, {"Asset": "Decentraland", "Ticker": "MANA", "Returns": "+2.4%", "DACS Sector": "Entertainment"}]
[{"Asset": "Terra", "Ticker": "LUNA", "Returns": "\u22120.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Stellar", "Ticker": "XLM", "Returns": "\u22120.2%", "DACS Sector": "Smart Contract Platform"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. TheCoinDesk 20is a ranking of the largest digital assets by volume on trusted exchanges. || Apple iPhone makers founder distances himself from crypto fraudsters using his image: Terry Gou, founder of Apple iPhone maker Foxconn, Saturday said that fraudsters have been using his images to promote cryptocurrency scams and that he has never invested in the crypto industry. See related article: Foxconn pledges to boost metaverse development this year Fast facts In a Facebook post on Saturday, the Taiwanese mogul said through his office administration that his lawyers have got in touch with authorities to launch an investigation into the matter. Previously in December, Gou said that only an underground economy would adopt cryptocurrency and the crypto market was still mixed with the good and the bad with great speculation. Foxconn, however, is betting big on the metaverse. In January, Foxconns computer hardware subsidiary Ennoconn Corporation said it had a deal to receive a NT$1.1 billion (US$36.7 million) investment from Google to cooperate on metaverse projects in Taiwan. In November, Foxconn organized an online virtual event where Gou appeared as an avatar to demonstrate the companys e-vehicle and metaverse ambitions. HCM Capital, an investment firm sponsored by Foxconn, is also active in the crypto and blockchain space, with Bitcoin financial services company Unchained Capital and crypto investment management firm Galaxy Digital in its portfolio . See related article: Foxconns Terry Gou: mainstream monetary finance could not be decentralized || Exclusive Interview with Camila Russo: The Intersection of NFTs and Hollywood: • Camila Russo is the author of The Infinite Machine.
• The book will be adapted into a Hollywood feature film directed by Ridley Scott.
• This will be the first Hollywood film to be made on the top altcoin – Ethereum.
From Blockchain to Web 3.0 tocryptocurrencies,NFTsand DAOs – there are a lot of new buzzwords that give rise to skepticism. However, supporters of the blockchain and crypto space are focusing on innovation instead FUDs amid the bear market.
Camila Russo, a Chilean journalist, based in New York, has been trying to warm up the mainstream masses to the crypto and NFT space. Russo founded The Defiant – a media outlet focused ondecentralized finance(DeFi).
Being a journalist and storyteller, she is keen on telling another story – about the emergence ofEthereum, which is not only the most important cryptocurrency afterBitcoinbut also a platform for building various applications like smart contracts.
The Defiant founder has told the story ofEthereumin her book titled The Infinite Machine. The book was also featured in The Wall Street Journal as among the best in crypto.
Published in 2020, The Infinite Machine will be made into a helmed by Ridley Scott’s Scott Free production company. Scott Free production company is also behind Hollywood blockbusters such as Gladiator, Blade Runner, The Martian, and House of Gucci, among other iconic films.
In this FXEmpire exclusive with Camila Russo, the author and executive producer of the film The Infinite Machine, speaks about her book, the upcoming movie, the recent bear market, and much more.
Well, it feels surreal. First of all, writing a book that has had such great feedback and has been received so well by the community has been the most fulfilling thing ever. That was what had me up at night in the lead-up to publishing my book.
When writing my book, I was writing it in a way, hoping it would come alive. And adding color and making, making sure that descriptions were there so that people could imagine what was happening.
It crossed my mind back when I was writing that it would be amazing if this (book) actually was on film. I never really thought that it would happen, but now that it’s happening, it’s hard to believe. I feel grateful, happy, and lucky that this has played out.
I decided to start writing this book in December 2017. I was at Bloomberg at the time; I was there for eight years, covering markets. In 2017, I was covering cryptocurrencies, and it had always been my dream to write a book. So I was on the lookout for what that story could be.
At the end of 2017, I decided that there was a kind of book material on crypto, and from there, I asked myself, “what’s the biggest and most important story to tell?” For me, it was clear that it was Ethereum. There had already been books about Bitcoin, and I felt there was a lot of information out there about the story behind Bitcoin.
However, there was nothing really on the story of Ethereum. Ethereum is the second biggest cryptocurrency, but it’s also the first smart contract platform. It also drove the whole ICO boom of 2017, so to me, it had already made history and changed the blockchain industry and even the tech industry.
So it was a story worth documenting – whether Ethereum kind of “won” in the long run or not. It was worth having the story of Ethereum’s foundation appropriately documented in a book. That’s how I decided to pitch the idea of writing a book on the history of Ethereum.
In late 2017, I pitched this to an agent and wrote a book proposal. And then April 2018, I ended up signing a deal with a publisher.
I was fortunate to be executive producer of the Infinite Machine. So that gives me influence on how the movie is funded. When we started having these conversations, I thought it was important to include the Ethereum community in the funding process. This being the first movie on the history of Ethereum, it just made sense to use Ethereum technology and to bring the Ethereum community on board.
So we created an NFT collection to raise funds for the movie. We aim to raise as much of the budget as possible via NFTs. While we’ll have to complement the funding with traditional methods, at least part of the movie will be funded with NFTs with the Ethereum community. That was just very important to me to do.
This NFT collection is a collection of over 10,000 NFTs; the number is linked to EIP 1559. We brought on 36 artists from emerging nations to design different versions of the Ethereum logo. We then made them into mosaics and combined these mosaics to make 10,000 plus collections.
I’ve been in crypto for a while, and obviously, the space has ups and downs. It’s a very volatile market. But with so much promise, sometimes investors and traders get ahead of themselves and bring in a lot of speculation and hype that overcomes the fundamentals in the space.
I think that was the case in the last couple of years. It happened in 2017; it happened in 2013. However, beneath this underlying hype, there continues to be real innovation and a technological revolution with blockchain technology at its core.
So I believe this space will continue growing and continually evolving. Prices will do what they have to do. It’s not just a crypto crash but a macro crash; there are many kinds of macro headwinds.
Also, reality caught up with the cryptocurrency space and dragged everything down, but projects with real fundamentals and substance will survive and continue to thrive past the bear market.
That’s certainly my hope with the film; if I manage to do that, that would be like my dream come true. When I set out to write the Infinite Machine, it was with the mainstream audience in mind so that anyone could pick it up and enjoy it (the book), whether they had even heard of Ethereum or not.
I think movies have the capacity to reach an emotional side that maybe books can’t. Books sometimes appeal to a more rational side, and fewer people end up reading books, but movies have a mainstream appeal.
Movies can move people in a way that books can’t because it’s a different medium. So I’m excited to see whether the film, the Infinite Machine, can have this effect on people. I hope that it can bring this message across; you know, this is something that’s revolutionary and provides an alternative to how things have traditionally been done.
I would tell them there’s much more to crypto than prices. Luckily, real use cases and applications are working and delivering value with real users and volume. If you go to where builders are, if you go to conferences, especially hackathons, you will see that the crypto market is more alive than ever and continues to grow.
Builders indeed keep building even in bear markets; in fact, it’s a better time to build because there’s no distraction of prices going up and all this hype. Many times, the more valuable applications get built in the bear market because you’re forced to make something useful.
When money is flowing in, you can get rich by doing a random 10K NFT collection; then, you’re not forced to build something innovative and interesting; In the bear market, that changes. So it’s actually a time when crypto gets even more enjoyable. History is an indication what gets built now in the next few months of the bear market will be what fuels the next bull run.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21680.54, 21769.26, 22370.45, 20296.71, 20241.09, 19701.21, 19772.58, 20127.58, 19419.51, 19544.13
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Why We Are Obsessed with Bitcoin: (0:30) - The Many Stages of Stock Market Bubbles (5:00) - FOMO: The Fear Of Missing Out (11:30) - Examples of History's Biggest Bubbles (14:50) - Bitcoin: Is a Bubble In Progress? (25:00) - How To Avoid Getting Hurt With Bitcoin (30.30) - Episode Roundup: [email protected] Welcome to Episode #111 of the Zacks Market Edge Podcast. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. In this episode, Tracey is joined by Kevin Cook, Zacks Senior Strategist and the host of the Mind Over Money podcast, to discuss the history of manias. How do they start? What’s the psychology behind wanting to get in? What makes people jump in even when they know there is danger there? And how can investors in cryptocurrencies avoid getting burned? Or can they? A History of Manias Charles Kindleberger, a PHD economic historian who passed away in 2003 at age 92, wrote what Tracey believes to be “the guide” to manias in the 1970s called Manias, Panics and Crashes, a history of financial crises . Tracey has the 4 th edition, which was published in 2000, fittingly, as the dot-com bubble was about to burst. In it, Kindleberger looks at the stages and conditions of manias. Not surprisingly, over the ages, each of the manias have had similar features including speculation and increased liquidity due to monetary expansion. In many cases, there is even governmental or regulatory warning. Remember Chairman Greenspan’s infamous “warning” in 1996 about the “irrational exuberance” in the stock market? Will You Be “Newtoned”? Perhaps one of the most famous victims of a mania was Sir Isaac Newton who invested in shares of the South Sea Company in 1720. As Kindleberger recounts, his first investment did splendidly well. He saw a 100% gain of seven thousand pounds. But as the mania picked up steam, and he was now on the sidelines, it sucked him back in. He reentered the market at the top the second time and ended up losing twenty thousand pounds. Story continues He said in the spring of that year, “I can calculate the motions of the heavenly bodies, but not the madness of people.” There are plenty of early Bitcoin investors who have cashed out. But will they jump back in, lured, like Newton, by the momentum of the market? Manias Overshadow Other Assets One hallmark of many manias is that other asset classes usually do quite well during the same time period. For instance, during the Tulip Mania in the 1600s, housing prices rose sharply, investors were jumping into plays on the canals, and shares in the Dutch East India Company doubled. And now there are the cryptocurrencies, including Bitcoin and Litecoin, soaring at the same time that the major stock indexes are hitting new all-time highs. But in the public’s mind, stocks are being left in the dust by Bitcoin mania. Yet, many stocks have had extraordinary years as well. Mega-cap Boeing BA is up nearly 90% year-to-date while a company like Exact Sciences EXAS , which isn’t even being talked about by the financial press, is up 280% for the year. Infrastructure Build-Out Given that the cryptocurrencies are a new phenomenon, the back-end, including the infrastructure, is still being built out. As many of us at Zacks have talked about in prior podcasts, investors can play the bitcoin mania by buying into the infrastructure including the CBOE Global Markets CBOE and CME Group CME , where the futures will be traded, and even with companies like Nvidia NVDA . Kevin’s Advice for New Bitcoin Traders Kevin has been trading some of the cryptocurrencies but trading, in general, isn’t for everyone. What advice does Kevin have for those on the outside looking in? And how does history look on those rushing in for a piece of the pie? Find out on this week’s podcast. [In full disclosure, the author of this article owns TCEHY in her personal portfolio. Kevin Cook also owns NVDA.] Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Boeing Company (The) (BA) : Free Stock Analysis Report Exact Sciences Corporation (EXAS) : Free Stock Analysis Report CME Group Inc. (CME) : Free Stock Analysis Report CBOE Holdings, Inc. (CBOE) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin hits all-time high above $11,700 as recovery accelerates: In a massive rebound from a 20 percent plunge last week, bitcoin (Exchange: BTC=) surged Sunday to a record high above $11,700. The digital currency hit an all-time high of $11,773.83, up 8 percent on the day, according to CoinDesk. That's 30.5 percent, or nearly $2,753, from a low of $9,021.85 hit Thursday.The rapid recovery is the latest in bitcoin's wild swings. The cryptocurrency had crossed the closely watched $10,000 figure Tuesday and topped $11,000 Wednesday, only to drop more than $1,000 in a few hours amid high trading volume that exchanges initially struggled to keep up with.Bitcoin one-week performanceSource: CoinDesk On Monday, Nov. 27, former Fortress hedge fund manager Michael Novogratz predicted on CNBC's " Fast Money " that bitcoin could "easily" be at $40,000 at the end of 2018. But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are "going to be the biggest bubble of our lifetimes."Bitcoin trading in Japanese yen accounted for about 58 percent of trading volume, while U.S. dollar-bitcoin trading accounted for about 23 percent, according to CryptoCompare. The bitcoin offshoot, bitcoin cash, also jumped nearly 13 percent Sunday, to $1,606.06, according to CoinMarketCap. Digital currency ethereum (Exchange: ETH=) rose more than 3.5 percent to $480, CoinMarketCap showed. Bitcoin's rapid gains mean that twins Cameron and Tyler Winklevoss, founders of the Gemini digital currency exchange, are likely the first well-known bitcoin billionaires. The twins together had $11 million in bitcoin at $120 a coin in April 2013 . With bitcoin above $11,700, that holding is now worth just over $1 billion. A representative for the Winklevoss twins did not immediately respond to a CNBC request for comment. In a massive rebound from a 20 percent plunge last week, bitcoin (Exchange: BTC=) surged Sunday to a record high above $11,700. The digital currency hit an all-time high of $11,773.83, up 8 percent on the day, according to CoinDesk. That's 30.5 percent, or nearly $2,753, from a low of $9,021.85 hit Thursday. The rapid recovery is the latest in bitcoin's wild swings. The cryptocurrency had crossed the closely watched $10,000 figure Tuesday and topped $11,000 Wednesday, only to drop more than $1,000 in a few hours amid high trading volume that exchanges initially struggled to keep up with. Bitcoin one-week performance Source: CoinDesk On Monday, Nov. 27, former Fortress hedge fund manager Michael Novogratz predicted on CNBC's " Fast Money " that bitcoin could "easily" be at $40,000 at the end of 2018. But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are "going to be the biggest bubble of our lifetimes." Bitcoin trading in Japanese yen accounted for about 58 percent of trading volume, while U.S. dollar-bitcoin trading accounted for about 23 percent, according to CryptoCompare. The bitcoin offshoot, bitcoin cash, also jumped nearly 13 percent Sunday, to $1,606.06, according to CoinMarketCap. Digital currency ethereum (Exchange: ETH=) rose more than 3.5 percent to $480, CoinMarketCap showed. Bitcoin's rapid gains mean that twins Cameron and Tyler Winklevoss, founders of the Gemini digital currency exchange, are likely the first well-known bitcoin billionaires. The twins together had $11 million in bitcoin at $120 a coin in April 2013 . With bitcoin above $11,700, that holding is now worth just over $1 billion. A representative for the Winklevoss twins did not immediately respond to a CNBC request for comment. More From CNBC Top technician thinks Dow 25K could happen by the end of the year Congress dangles tax cuts before markets as well as a possible shutdown Tax reform winners: Experts name their top stock picks || Should You Retire in 2018?: The decision to retire isn't one to be taken lightly. If you're thinking that 2018 will be the year you bring your career to a close, be sure to ask yourself these key questions first.
Though there's no single number to amass to feel like you've saved "enough," as a general rule, you should aim to have roughly 10 times your ending salary socked away before you retire. That's what investment giant Fidelity recommends, and frankly,it's good advice. So if your savings level isn't anywhere close, then it's probably best that you work a few more years before calling it quits for good.
IMAGE SOURCE: GETTY IMAGES.
Here's another way to look at it: Most retirees need around 80% of their former income to live comfortably. This figure takes expenses likehealthcareand leisure into account -- expenses that tend to rise in retirement. Now as a general rule of thumb, it's a good idea to plan on withdrawing roughly4% of your savingseach year in retirement. This means that if you have $800,000 in savings, you'll get about $32,000 a year. Furthermore, assuming you're at least 62, you'll also get to collect Social Security, and for the purpose of our example, we'll put your yearly benefits at $16,320, which is about what the average retiree collected last year.
Assuming you don't have any other sources of income, that leaves you with a little over $48,000 a year to live off. Now if you're earning around $60,000, that number works. But if you're used to living off a $100,000 salary, you may want to think twice before retiring this year, and instead aim to sock away more money before pulling the trigger. The good news is that workers over 50 can contribute up to $24,500 to a 401(k) annually, so if you stay on the job a couple of years longer and max out during that time, you'll have an extra $49,000 to play with in retirement. Just as importantly, you'll avoid tapping your nest egg sooner, thus allowing it to last longer.
If you've saved a ton of money in your IRA or 401(k) and aren't really counting on Social Security to pay the bills, then you don't need to worry about how old you are when you retire. But if you're planning to fall back on those benefits in retirement, then you'll need to think about whether retiring this year hurts you from a Social Security perspective.
In a nutshell, your Social Security benefits are calculated based on your 35 highest years of earnings, but the age at which you first claim those benefits can cause them to go up, go down, or stay the same. If you wait until yourfull retirement age, which is 66, 67, or somewhere in between, to take benefits, you'll collect the exact amount you're entitled to based on your work history without a reduction or boost. But if you file for benefits early, you'll lower your payments by a certain percentage for each year you collect them before full retirement age.
There's also a flipside. If you hold off on Social Security past full retirement age, you'll accruedelayed retirement creditsthat give your benefits an annual 8% boost. So if you're thinking of retiring this year, figure out how your age might impact your Social Security payments, and make a smart decision around that. If you know your savings level isn't all that great, and you're a year shy of full retirement age, it probably pays to spend another 12 months in the workforce than rush to leave it immediately.
Many people think of retirement as a time to relax, travel, and enjoy life to the fullest. But unfortunately, countless seniors have the opposite experience. Rather than relish their unstructured schedules, many ultimately find themselves bored, restless, and even depressed. In fact, retirees are 40% more likely to suffer from depression than working adults.
Before you decide to retire this year, think about how you'll actually spend your days once you no longer have a job to report to day in and day out. Will you take classes somewhere? Volunteer? See the world? And if you're aiming for the latter, do you really have enough money to make that happen?
Retirement can be a fulfilling period of life provided you go in emotionally and financially prepared, but if that isn't the case, then it pays to keep working until you figure things out. This especially holds true if you like your job and are physically able to keep doing it for the time being.
Since 2018 has only just begun, it's fair to say that you still have plenty of time to figure out whether this year will actually mean retirement for you. But no matter what you ultimately choose, be sure to carefully contemplate the above factors so you don't wind up regretting your decision either way.
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The Motley Fool has adisclosure policy. || Why BlackBerry, Ulta Salon, and Advanced Micro Devices Jumped Today: Wednesday continued the New Year's rally on Wall Street, as the Dow , S&P 500 , and Nasdaq Composite all rose to record highs. A lack of market-moving news essentially left investors carrying positive momentum forward from 2017, and the minutes released from the Federal Reserve's monetary policy body suggested continued strength in the U.S. economy. Global markets also performed well. Among individual companies, BlackBerry (NYSE: BB) , Ulta Beauty (NASDAQ: ULTA) , and Advanced Micro Devices (NASDAQ: AMD) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well. BlackBerry makes a deal Shares of BlackBerry climbed 13% after the mobile device pioneer announced a partnership with a key Chinese internet company. Baidu (NASDAQ: BIDU) and BlackBerry will work together to develop connected and autonomous vehicle technology more quickly, with the goal of providing systems for auto manufacturers and suppliers across the globe. BlackBerry's safety operating system will be a the foundation of Baidu's open platform for self-driving vehicles, and Baidu's smartphone integration software and conversational artificial intelligence system will work alongside BlackBerry's car entertainment and information platform. The move further extends BlackBerry's expertise beyond mobile devices , and investors are pleased with the progress that the company has made in recent years. BlackBerry mobile device, shown with cover and with face revealed, against a black background. Image source: BlackBerry. Ulta looks prettier Ulta Beauty stock climbed 7% in the wake of positive comments from stock analysts. Professionals at Wells Fargo upgraded shares of the salon and beauty retailer from market perform to outperform, raising their price target by $55 per share to $275. In analysts' view, Ulta stands to make out well from more favorable tax rates under the new laws, and the holiday season has apparently been good for the retailer. Given the industry's difficulties recently, good news has been at a premium, and so shareholders are pleased that Ulta seems to be doing better fundamentally . Story continues AMD gets a chip off its shoulder Finally, shares of Advanced Micro Devices picked up 5%. The chipmaker originally rose by a much larger amount after reports suggested that a rival company's products had a security flaw, seeming to suggest that customers might be more inclined to switch to AMD chips going forward. Later in the afternoon, the rival rebutted the claims, arguing that media reports had been inaccurate. Even so, the move shows how competitive the chip market is right now, and AMD has done a good job of finding a more viable niche in the industry after spending much of its history as an also-ran among industry leaders. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Baidu. The Motley Fool recommends Ulta Beauty. The Motley Fool has a disclosure policy . || Bitcoin Takes a Hit on Tether Hack But Remains Near Record High: The price of Bitcoin dropped more than $500 before recovering most of its losses on Tuesday. The digital currency initially retreated below the psychologically important level of $8,000 only two days after breaking it for the first time. The drop was due to reports of a theft that affected an alternative cryptocurrency. The firm behind a cryptocurrency called Tether said that $31 million was taken from the Tether Treasury wallet on November 19 in the wake of a hack. The stolen amount was sent to an unauthorized Bitcoin address, according to the announcement the company has published on its website yesterday. The companys development team is now attempting to prevent the stolen amount, which was in Tether tokens, from entering the wider trading economy. The team said that the tokens will not be redeemable on the Tether platform. The hack temporarily raised concerns about the safety and security of digital currencies, which erased a chunk of Bitcoins rapid gains this week. However, Bitcoin quickly recovered most of its losses as investors remained optimistic following recent institutional interest in the virtual currency. Bitcoin overcame a long list of hacks in the past with relative ease, despite the dent these hacks left in investors confidence in the security of cryptocurrencies. Get Into Bitcoin Trading Today Bitcoin has been through rapid ups and crushing downs in November. The virtual currency quickly moved to more than $7,800 on November 8, ahead of a highly anticipated upgrade to the underlying Bitcoin technology. Bitcoin then lost as much as 29% of its value to reach about $5,580 on November 12, when the awaited upgrade was called off. After recovering some of its losses during the past week, Bitcoin shot through $8,000 on Sunday as institutional investors appeared to be pushing harder into the world of digital currencies. The fast growth of the total cryptocurrencies market capitalization this year has made it harder for investors from Wall Street to ignore these new digital assets. Story continues One of the latest institutional pushes into the cryptocurrency world came from CME Group Inc., which announced plans to start offering futures trading on Bitcoin starting next month. Square, Inc., a financial service based in San Francisco, also has plans to incorporate Bitcoin by beginning to test Bitcoin payments on its Cash app. Coinbase decided to ride the wave as well by offering custodian service for hedge funds and sovereign wealth funds. Bitcoin began 2017 at a value of about $1,000 per Bitcoin. The digital currency then reached $3,500 in August, at which point analysts expected the digital currency to touch $5,000 by 2018. However, the growing institutional interest grabbed enough attention from investors to overshadow warnings of a value bubble and push the digital currency past most expectations. BTC/USD is trading at 8,232 on the Bitstamp exchange as of 14:15 GMT on Tuesday after dropping to 7,780 at 03:35 GMT. BTC/USD began trading today at 8,231.5. This post was originally published by EarnForex The Best and Safest Way to Buy and Sell Bitcoins For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Takes a Hit on Tether Hack But Remains Near Record High Gold Price Futures (GC) Technical Analysis November 21, 2017 Forecast Interview with Can Soysal, Telex AI Managing Director AUD/USD Forex Technical Analysis November 21, 2017 Forecast Pound Capable of Producing Opportunities E-mini S&P 500 Index (ES) Futures Technical Analysis November 21, 2017 Forecast || Litecoin is surging and crypto exchanges are struggling to keep up: The Coinbase cryptocurrency exchange said trading for litecoin was temporarily disabled today, after the fourth-most-valuable cryptoasset soared by 80% in intraday trading. It was the latest outage or other interruption at the popular exchange in recent weeks, as it and other platforms struggle to keep up with the cryptoasset boom. Robots are being used to shoo away homeless people in San Francisco Crypto euphoria has mainly been limited to retail investors, but their enthusiasm is enticing institutional investors into the market. This week Cboe Holdings, a global exchange, launched bitcoin derivatives . Rival exchange CME Group plans to do the same on Dec. 18. Coinbase’s latest trading disruption underscores the fragility of the trading platforms where the the bulk of digital assets currently change hands. These exchanges are basically startups trying to cope with immense growth, and trading disruptions and withdrawal freezes are fairly common. Litecoin is the most-traded digital asset on Coinbase’s GDAX platform, surpassing both bitcoin and ethereum, according to Coinmarketcap.com . An innovative natural-gas power plant could be the future of hurricane-proof electricity Litecoin, which has climbed from about $4 at the beginning of the year to $329.91 today, differs from bitcoin in that transactions are faster, which could make it more useful for payments. In this sense, Bitcoin in some ways a victim of its own success—with its value climbing so quickly, investors are afraid to spend it. Maybe one of the few things worth buying with bitcoin at the moment is litecoin. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Former Facebook executive has sworn off social media because he doesn’t want to be “programmed” This is what happened to the scientist who stuck his head inside a particle accelerator View comments || Market Movers: Yahoo Finance breaks down early market action: Yahoo Finance’s Alexis Christoforous, Yahoo Finance Editor-in-Chief Andy Serwer , Seana Smith and Jared Blikre discuss the big stories of the day. Today’s Topics Election Day in Alabama How Amazon is making Janet Yellen’s job harder Netflix’s most-binged shows Women who accused Trump of misconduct call for congressional Investigation Bitcoin’s latest Online comparison shopping makes Fed moves tougher: WSJ San Francisco Mayor Ed Lee dies at 65 Investigators seeing if anyone else was involved in NYC attack California’s Thomas fire fifth largest in state’s history Unibail-Rodamco takes over WestCorp for $15.7B Amazon partners with Ningxia to grow cloud business Google tops FB as publishers’ main source of external views Apple opens App Store pre-orders FCC may scrap net neutrality on Thursday Classic cars as a “stock” investment || This Cryptocurrency Is Soaring Today While Bitcoin and Ethereum Plunge: Many major cryptocurrencies were plunging on Thursday, as South Korean regulators talked about tighter regulation of blockchain currencies in that country. But one of the largest crypto-coins swam against the current, posting a large gain instead. A large, golden Bitcoin logo set against a plunging red charting line and a backdrop of digital data. Image source: Getty Images. What's new? According to a Reuters report Wednesday night, South Korean government officials want to make it harder to speculate in cryptocurrencies. The country may soon impose new regulations on virtual coin trades and exchanges, including a ban on anonymous cryptocurrency accounts and the option to close down rule-breaking coin exchanges promptly. "The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility," said a spokesman for South Korea's Office for Government Policy Coordination at a press conference. Street prices of Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies plunged 5% or more within minutes of that Reuters story hitting the news wires. South Korea is home to some of the world's largest virtual currency exchanges, which act as liquidity buffers and trading platforms for cryptocurrency users around the world. In many ways, South Korea is blazing a path for other cryptocurrency regulators to follow. The local blockchain industry recently agreed to tighter transparency rules and larger asset requirements for Korean virtual currency exchanges, and those rules will take effect next week. The country is also looking into taxation of capital gains from cryptocurrency trading. How to buck the downtrend At the same time, the third-largest cryptocurrency by market cap took a big step forward. The Ripple coin, known as XRP, zigged while other digital currencies zagged, rising 9.4% as of 1:40 p.m. EST. All told, Ripple prices have surged from 0.6 cents per coin at the start of 2017 to $1.46 per coin as of this writing -- a 243-fold increase. Story continues A long chain of metal chain links, with a single link covered in black-and-blue hexadecimal numbers in focus. Image source: Getty Images. Thursday's big gain was powered by positive news out of Japan, where Ripple started up a new partnership with a consortium of credit card companies to get the digital currency into the hands and wallets of regular consumers. Ripple was founded as a blockchain-based money transfer service, giving banks and consumers a low-cost way to transfer cash across international borders at the drop of a hat. Adding more credit card issuers to Ripple's portfolio of partners moves the coin closer to achieving that long-term goal. "One of the things we all have to remember is the value of a token over the long term is really going to be driven by its utility," said Ripple CEO Brad Garlinghouse in a recent interview with CNBC's Squawk Alley . "What problem is it solving? How big is that problem? How many customers do you have?" So his digital currency is addressing the real-world problem of slow and expensive international money transfers, hoping to avoid the trap of becoming an empty vessel for flimsy speculation. For those keeping score at home, this is the same Brad Garlinghouse who penned the famous " peanut butter manifesto " as a senior vice president of Yahoo!. His resume also includes many years of angel investing and leveraged buyouts at firms like Silver Lake Partners, giving him a solid mix of technical and financial know-how. I'm not surprised to see a cross-sector star like Garlinghouse joining the front lines of the blockchain business . More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || Fed's Quarles says digital currencies pose financial stability risks: (Includes additional comments from Quarles, context) By Pete Schroeder WASHINGTON, Nov 30 (Reuters) - Federal Reserve Governor Randal Quarles, the U.S. central bank's regulation chief, said on Thursday that digital currencies like bitcoin could pose "more serious financial stability issues" if adopted widely. In a speech, Quarles also said central banks should be cautious in issuing their own digital currencies, and that the matter requires extensive review. He said he was "particularly concerned" potential central bank digital currencies could face issues related to money laundering, terrorism financing, and cyber attacks. Quarles said he worried that bitcoin and other comparable digital currencies could come under significant stress at times of adversity, particularly since they cannot rely on the backing of a centralized asset. They could pose a risk to the stability of the broader financial system if they became widely held. "It is not clear how a private digital currency at the center of a large-scale payment system would behave, or whether the payment system would be able to function, in times of stress," he said at a Washington conference, according to prepared remarks. "While these digital currencies may not pose major concerns at their current levels of use, more serious financial stability issues may result if they achieve wide-scale usage." While supportive of continued research into digital currency issues, he argued near-term efforts should focus on improving the way payments are processed in the existing banking system. Quarles was speaking one day after William Dudley, president of the Federal Reserve Bank of New York, said the Fed was in the early stages of considering the implications of issuing a digital currency in the future. Bitcoin slid to as low as $9,000 in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. (Reporting by Pete Schroeder; Editing by Frances Kerry) || Citron Calls Roku A 'Total Joke': Notable short seller Citron Research Tweeted on Tuesday that Roku Inc (NASDAQ: ROKU ) is a bubble that could move "much lower." What You Need To Know Citron cited RBC analyst Mark Mahaney, who has a $28 price target on Roku, and that Needham's Laura Martin's price target is "irresponsible." "Unless $ROKU finds a way to stream a BTC - this stock is MUCH LOWER...caveat emptor," the Tweet said. Citron didn't follow up with a justification for its thesis (although Andrew Left will appear on CNBC Wednesday afternoon), but data from FIS Astec Analytics may confirm Citron's short stance. Astec Analytics offers up-to-date, intraday short selling market insight via securities lending analytics and identified Roku as one of the hottest stocks being shorted by investors. After Roku's stock bottomed at $15.75, many investors are sitting on triple-digit percentage gains as shares closed last week at $39.47. However, many short investors are aware the company is unlikely to earn a profit until 2020 and the stock by some metrics is bloated. Specifically, Roku's stock is trading at a price to earnings ratio of 7.2 compared to Netflix, Inc. (NASDAQ: NFLX ) at 7.3 and Apple Inc. (NASDAQ: AAPL ) at 3.2. Why It's Important "Short sellers, despite closing off around 10 percent of their open positions in the last week, have seen utilization grow by more than 10 percent as supply has been contracting, probably as a result of early investors banking their gains," Astec Analytics said in a report. "Significant short interest remains, positioned to take advantage of any bursting bubbles as Roku." What's Next? Roku's stock hit a new 52-week high of $51.80 on Tuesday but Citron's Tweet may have hampered the sentiment as shares were seen trading at $47.25, up just 2.4 percent on the day at time of publication. Related Links: Here's Why Roku's Volatility Is OK With This Equity Strategist Expert: Roku's Post-Q3 Run Could Be Masking Balance Sheet Concerns Image Credit: Mattnad - Own work, CC BY-SA 3.0, via Wikimedia Commons Story continues Latest Ratings for ROKU Nov 2017 Needham Reiterates Buy Buy Nov 2017 Oppenheimer Downgrades Perform Underperform Nov 2017 Morgan Stanley Maintains Equal-Weight View More Analyst Ratings for ROKU View the Latest Analyst Ratings See more from Benzinga Here's Why Roku's Volatility Is OK With This Equity Strategist Expert: Roku's Post-Q3 Run Could Be Masking Balance Sheet Concerns Roku CEO: 'Everyone Over Time Is Going To Shift Toward Streaming' © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
2017 already had the perfect Bitcoin themed movie. And in case you're wondering, it's loads of fun! pic.twitter.com/tLT05I2fSw || Bits: Farhad and Mike’s Week in Tech: The Big Bitcoin Boom http://dlvr.it/Q50Q3g pic.twitter.com/n5KmWtGD9C || bitcoin priceってゆうか、 || Bitcoin seen at $50000 in 2018 as volatility persists - CryptoCoinsNews http://bit.ly/2AJHtlJ || People see bitcoin as digital gold they don’t see that with ether hence its sinking value relative to bitcoin. At present ethers price is out of all proportion to its use case on the network but in time the network will grow || https://finance.yahoo.com/news/bitcoin-gold-dash-monero-forecast-055545376.html … - from StockSpy iOS http://itunes.apple.com/app/id885333643 https://finance.yahoo.com/news/bitcoin-gold-dash-monero-forecast-055545376.html … || Le récent article de M.Maujean a retracé les rêves libertariens qui entourent bitcoin et autres monnaies cryptées. Il a renvoyé ses lecteurs à la Grève. (qu'ils n'ont pas lu). Je les renvoie à une réalité dépourvue de tout idéal. https://www.pascalordonneau.com/2017/12/09/le-bitcoin-entre-politique-et-sp%C3%A9culation/ …pic.twitter.com/TQsCGgLGZY || bitcoin priceってゆうか、 || Bitcoin, Bitcoin Cash and Bitcoin Gold Price Comparison
BTC: $16140.3
BCH: $1450.91 0.0914432
BTG: $258.544 0.0162947 || こんばんは。 bitcoin priceという
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Trend: down || Prices: 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Goes Back to the Future for Mainstream Adoption: Signs ofbitcoinadoption are everywhere. Whether it is Morgan Stanley scooping up more shares of the Grayscale Bitcoin Trust,Amazonhiring a blockchain and digital currency expert or PayPal expanding its crypto footprint to the U.K., it is clear that bitcoin is closer to becoming a household name.
Nonetheless, if you ask one market analyst, it is still the very early innings for the asset class. Willy Woo, an on-chain analyst,in a tweet, illustrated the “projected worldwide bitcoin users expressed in internet years.”
According to Woo’s analysis, bitcoin is currently in the stage where the internet was in 1997 when the World Wide Web was more readily available and used by businesses and households alike.
It will be close to four years before bitcoin is at the post-dot-com bubble stage of circa 2005. For context, that was the year that Pandora Internet Radio was launched and Google introduced a short-lived personalized homepage, iGoogle.
Bitcoin will not reach internet 2010 status until the year 2028, according to Woo, which is akin to when the Kindle was selling like hotcakes on Amazon.com. In terms of devices, 2010 was also the year that the Apple iPad wasintroduced.
Woo also pointed out back in February that bitcoin’s adoption rate at the time rivaled that of the internet in 1997. He added, however, that bitcoin adoption was moving at a quicker pace, forecasting that there would be 1 billion bitcoin users by 2025, which again he likened to 2005 for the web.
As the bitcoin market matures, the stars are beginning to align for what Kraken’s Dan Helddescribesas a “Bitcoin Supercycle.”According to LocalBitcoins, a bitcoin supercycle is one in which the leading cryptocurrency “creates a virtual marketing loop” in which several themes are apparent.
Held explains which pieces are in place. For example, consumers are losing trust in “existing institutions.” Bitcoin is increasingly being looked to as a store-of-value asset around the world in the face of rising inflation. And the industry infrastructure is getting better, making it easier for people to buy bitcoin, which, in turn, could hasten wide-scale adoption.
The bitcoin price is not too far from the USD 50K level. Market leadersare optimisticabout where the price will go by the end of the year.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Fundamental Daily Forecast – Prices Spike Higher Led by Hurricane Fears, Bullish EIA Data || What is Polkadot?: What is PolkaDot ? Polkadot is a blockchain network which can be described as a ‘blockchain of blockchains’, or multichain. It is hard to define what Polkadot is because it is one of a kind object so we need to understand its structure first. The project is maintained by a team led by Gavin Wood, the former CTO of the Ethereum project. Problems with existing blockchains… Decentralisation, speed and security. For any blockchain you can think of, it is a game of choosing one or two out of the three. This is known as the blockchain trilemma. Let’s examine a couple examples… Ethereum is successful because it has a convenient architecture for implementing smart contracts. But far too many people abuse its functionality and create useless projects like CryptoKitties. At the end of 2017, this project occupied almost 12% of the whole network, paralysing the transactions which also lead to skyrocketing fees. EOS, on the other hand, offers almost instant transactions. However, it has nominated block validators which opens doors for manipulation. This is why EOS is considered by many as a very centralised network. All blockchains make trade-offs to support certain features. There is another issue which limits our transition from Web 2.0 to Web 3.0. Hundreds of public blockchains exist out there all serving specific purposes. All these networks are isolated from each other and no information can be exchanged between the projects. This is as if different banks or institutions were not allowed to interact with each other. Such lack of interoperability is preventing mass adoption of the blockchain technology. Polkadot aims to resolve all of these problems. Polkadot under the hood The two main structural components of the Polkadot multichain are Relay chain and Parachains. Relay chain is central to everything. It is responsible for security, consensus and cross-chain interoperability across the whole network, and has an intentionally reduced functionality. For example, smart contracts are not allowed. Story continues Relay chain, just like any other blockchain, has validators staked with DOT – Polkadot’s native currency – for using Proof of Stake to achieve consensus. The validation mechanism is actually called “Nominated Proof-of-Stake”. Nominators bond their stake to particular validators in order to help them get recognized by the network and be allowed to mine the blocks. Profits and loses are shared with nominators. In this way, untrustworthy validators will be excluded from the system. Parachains are blockchains that connect to the Relay chain and delegate their consensus and security computations to it. In this way, parachains become fast and congestion-free. Each parachain can still has its own governance rules but it must be able to pass blocks that the Relay chain can understand. The job of transitioning from a given parachain to the Relay chain is done by special nodes called Collators. Parachains are built to serve a single purpose. For example, one of them might be good for fast transactions while another is designed for smart contract implementation. Parachains and Parathreads While Relay chain is permanent, parachains can disconnect and connect back to the network. The connection is established on a subscription basis – similar to monthly payments you make to Netflix to watch its content. Parachains are blockchains that run constantly and lease their space in the Polkadot network by locking the funds for the duration of the lease. Parathreads use a pay-as-you-go model. Parathreads are blockchains that need to be woken up and run less frequently. What makes Polkadot especially good? At the moment, almost 100 parachains can be connected to the multichain, signifying a previously unseen level of scalability and speed. A fully operational system is predicted to be able to process up to 1,000,000 transactions/second. And all of this while remaining genuinely decentralised – we don’t need to worry about the trilemma anymore. By design, parachains and parathreads can communicate. Even existing blockchains like Bitcoin and Ethereum could join the Polkadot family via so called bridges. This resolves the isolation issue we discussed about existing blockchains. In addition, the costs of running such networks are significantly reduced because there is effectively one chain (Relay) responsible for operation. Another important advantage of Polkadot is being developer- friendly. The majority of parachains are built using Substrate, a modular framework that allows blockchains to be built to specification within hours. Since the Relay Chain is built on Substrate, any Substrate-based blockchain can easily connect to the network. The future The Relay Chain of the Polkadot Network has been live since May 2020. Kusama can be thought of as a test network for Polkadot. Right now, the functionality of the Polkadot protocol is being tested on this network. A special mechanism of distributing subscriptions to parachains – called candle auctions – is also checked. There is a lot of trust in the future of Polkadot as more than 100 projects (KILT, Acala, Edgeware, Centrifuge, Katal, Polymath etc) have already decided to use the Polkadot mechanisms in the past months. For more news, guides and cryptocurrency analysis, click here . || Coinbase Can Climb, but also Correlated with Volatility: When cryptocurrencies do well, it isn’t just those trading them who make money. Several companies move in tandem with, or are indirectly correlated with, the price action of Bitcoin and others, but one in particular can turn revenues if the coin’s price both rises or falls. Coinbase Global, Inc. (COIN) generates the majority of its revenues off of crypto trading volumes, and in Q2 saw more than its fair share of both revenue and trading volume. (SeeCoinbase stock chartson TipRanks)
Putting this scenario into perspective isMoshe Katriof Wedbush Securities, who wrote that on paper, Coinbase had a phenomenal quarter. It beat Wall Street consensus estimates on revenue, adjusted EBITDA, and EBITDA margin. However, as crypto took a dive late in Q2, so did Coinbase’s volumes.
Katri reiterated a Buy rating on the stock, and raised his price target from $275 to $300. This raised target now suggests a possible 12-month upside of 3.03%.
The five-star analyst expects Coinbase’s total trading volume to decline, going forward into Q3. This is understandable, as the firm recorded a 1,550% rise year-over-year in trading volume and a 1,023% increase in transaction revenue over that same period.
On the bright side, Katri added that “the decline in crypto assets values on the platform seem to be a function of a quarterly fall in crypto prices, rather than, declining usage from institutional volumes.”
Even with a slowdown in July crypto volatility, Coinbase still has some unaccounted-for tricks up its sleeve. The company retains several opportunities for monetization, which are expected to continue propelling long-term earnings power. Furthermore, impacts from the relatively high fees charged for each trade, for user retention and engagement, seem to be offset by the platform’s “breadth of products and services.”
Unfortunately for Coinbase, regulatory uncertainty is expected to continue to cause strong fluctuations in its stock price. Throughout Q2, regulators from both the U.S. and China made high profile announcements regarding cryptocurrencies, at times causing devastating consequences for Bitcoin and its ilk. According to Katri, this volatility will continue to persist.
On TipRanks, COIN has an analyst rating consensus of Moderate Buy, based on 11 Buy and 2 Hold ratings, and 1 Sell rating. Theaverage Coinbase Global price targetis $377.82, reflecting a potential 12-month upside of 29.3%. As of 10:29 a.m. EST on Wednesday, COIN was trading at a price of $269.16 per share.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Has to Hold 15098.00 or Could Pull Back to 14781.00: September E-mini NASDAQ-100 Index futures finished at a record close on Friday as investors continued to pour into tech-related stocks because of expectations the low interest rate environment will continue as the inflation surge seems more and more transitory like the Fed has been telling us for months. To put it another way, tech investors aren’t worried about central bank policy makers suddenly turning hawkish. On Friday, September E-mini NASDAQ-100 Index futures settled at 15098.00, up 169.50 or 1.12%. Setting the tone early in the session were shares of social media firms Twitter Inc and Snap Inc . Twitter on Thursday reported higher revenue growth than Wall Street had expected, as the social media platform rolled out ad targeting improvements to help brands reach potential customers. Shares of Twitter rose 3.0%. Snap Inc reported quarterly revenue growth of 116% on Thursday. Its shares jumped 23.8%. Other high-profile earnings expected this week include Tesla Inc , Apple Inc , Alphabet Inc , Microsoft Corp and Amazon.com . Daily September E-mini NASDAQ-100 Index Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. A trade through 15117.25 will reaffirm the uptrend. The main trend will change to down on a trade through 14445.00. The minor range is 14445.00 to 15117.25. Its 50% level at 14781.00 is the first support. This is followed by a pair of 50% levels at 14537.75 and 14464.00. Since the main trend is up, all of these levels are potential support. Keep in mind that they will move up as the market moves higher. Daily Swing Chart Technical Forecast The direction of the September E-mini NASDAQ-100 Index early Monday is likely to be determined by trader reaction to 15098.00. Bullish Scenario A sustained move over 15098 will indicate the presence of buyers. Taking out 15117.25 will indicate the buying is getting stronger. This could fuel an acceleration to the upside since there is no resistance at an all-time high. Bearish Scenario A sustained move under 15098 will signal the presence of sellers. If this move creates enough downside momentum then look for the selling pressure to possibly reach 14781.00. Since the main trend is up, look for buyers on the first test of this level. If 14781.00 fails as support then look for the selling to possibly extend into a pair of 50% levels at 14537.75 and 14464.00. These are the last two potential support levels before the 14445.00 main bottom. For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Economic Data from Germany Puts the EUR in Focus U.S. Dollar Index (DX) Futures Technical Analysis – Trader Reaction to 92.850 Pivot Set Early Tone E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Has to Hold 15098.00 or Could Pull Back to 14781.00 EUR/USD Daily Forecast – U.S. Dollar Is Mostly Flat Against Euro Bitcoin and Ethereum – Weekly Technical Analysis – July 26th, 2021 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Trader Reaction to 34951 Sets Early Tone View comments || The Crypto Daily – Movers and Shakers – July 19th, 2021: Bitcoin , BTC to USD, rose by 0.83% on Sunday. Following a 0.42% gain on Saturday, Bitcoin ended the week down by 7.09% to $31,820.0. A bullish start to the day saw Bitcoin rally to an early morning intraday high $32,453.0 before hitting reverse. Bitcoin broke through the first major resistance level at $31,970 and the second major resistance level at $32,380. The reversal, however, saw Bitcoin slide to an early afternoon intraday low $31,111.0. Bitcoin fell through the first major support level at $31,180 before briefly revisiting $31,900 levels. Coming up against resistance at $32,000, Bitcoin eased back to end the day at $31,800 levels. The near-term bullish trend remained intact, in spite of the latest return to $31,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Sunday. Crypto.com Coin fell by 1.50% to lead the way down. Litecoin (-0.76%) and Ethereum (-0.44%) also bucked the trend on the day. It was a bullish day for the rest of the majors, however. Bitcoin Cash SV rallied by 5.82% to lead the way, with Polkadot rising by 2.12%. Binance Coin (+0.53%), Cardano’s ADA (+0.76%), Chainlink (+0.97%), and Ripple’s XRP (+0.73%) also found support. It was a bearish week for the majors, however. Chainlink (-15.58%) led the way down, with Cardano’s ADA (-12.39%), Polkadot (-11.96%), Crypto.com Coin (-11.94%), Ethereum (-11.67%), and Litecoin (-11.27%) also seeing heavy losses. Binance Coin (-6.14%), Bitcoin Cash SV (-4.39%), and Ripple’s XRP (-7.49%) saw relatively modest losses, however. In the week, the crypto total market rose to a Monday high $1,419bn before falling to a Friday low $1,248bn. At the time of writing, the total market cap stood at $1,285bn. Bitcoin’s dominance fell to a Thursday low 45.47% before rising to a Saturday high 46.86%. At the time of writing, Bitcoin’s dominance stood at 46.38%. Story continues This Morning At the time of writing, Bitcoin was down by 0.04% to $31,806.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,720.0 before rising to a high $31,921.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Cardano’s ADA and Ripple’s XRP saw early losses of 0.10% and 0.09% respectively to join Bitcoin in the red. It was a bullish start for the rest of the majors, however. At the time of writing, Ethereum was up by 0.40% to lead the pack. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall back through the $31,794 pivot to bring the first major resistance level at $32,478 into play. Support from the broader market would be needed for Bitcoin to break back through to $32,400 levels. Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $32,453.0 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $33,500 before any pullback. The second major resistance level sits at $33,137. A fall back through the $31,795 pivot would bring the first major support level at $31,136 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $30,453 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 19th, 2021 What You Need to Know about SPACs – Wall Street’s Hottest Trend Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 19th, 2021 Dogecoin – Daily Tech Analysis – July 19th, 2021 U.S Mortgage Rates Fall for a Third Week as COVID-19 Delivers Uncertainty Earnings to Watch Next Week: IBM, Netflix, Coca-Cola, Twitter, Intel and American Express in Focus || PayPal Increases Crypto Payment Limits for US Customers: PayPal has raised cryptocurrency limits for its U.S. customers to $100,000 per week without an annual purchase limit, the company said Thursday. The San Jose, Calif.-based payment services company said on its website the change would “enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.” The company also said it would continue to update its in-app guides and educational materials on digital currencies, including addressing commonly asked questions. Related: Visa, PayPal Join Crypto VC Blockchain Capital’s New $300M Fund In May, during CoinDesk’s Consensus 2021 program, PayPal’s blockchain lead, Jose Fernandez da Ponte, said the company would allow users to withdraw cryptocurrency to third-party wallets. Read more: PayPal Will Let Customers Withdraw Crypto, Exec Says Related Stories Market Wrap: Weak PayPal Pump Leaves Market Mostly Flat With BTC at $38K, ETH $2.7K Talos Raises $40M Series A Funding From a16z, PayPal, Fidelity PayPal Will Let Customers Withdraw Crypto, Exec Says || Dogecoin Pulls Back After Major Rally: Dogecoin Tries To Stabilize After Upside Move Dogecoin has recently made an attempt to settle above $0.35 but lost momentum after a major rally and pulled back towards $0.34. Meanwhile, Bitcoin received strong support near the $46,000 level and is testing the resistance level which has recently emerged at $48,000. In case Bitcoin manages to settle above the resistance at $48,000, it will gain additional upside momentum and head towards the psychologically important resistance level at $50,000 which will be bullish for the whole crypto market. It should be noted that Bitcoin Dominance, which measures Bitcoin’s market capitalization as a percentage of total crypto market capitalization, has recently managed to settle below the 45% level and continues to move lower. The recent developments indicate that traders remain interested in altcoins which is bullish for Dogecoin. Technical Analysis Dogecoin gained strong upside momentum after it managed to get above $0.30 but faced resistance near $0.35. Currently, Dogecoin is trying to stabilize between the nearest support level, which has emerged at $0.33, and the resistance at $0.35. RSI has reached multi-month highs which means that the risks of a pullback are significant. In case Dogecoin manages to settle below the support level at $0.33, it will move towards the next support at $0.3150. A successful test of the support at $0.3150 will push Dogecoin towards the next support level at $0.2950. No material levels were formed between $0.2950 and $0.3150 so this move may be fast. On the upside, Dogecoin needs to settle above the resistance at $0.35 to continue its upside move. The next resistance level for Dogecoin is located at $0.36. In case Dogecoin manages to settle above this level, it will head towards the next resistance level which is located at $0.38. A move above $0.38 will open the way to the test of the resistance at $0.3950. It should be noted that cryptocurrencies are very dependent on momentum so Dogecoin has decent chances to continue its upside move despite high RSI. Story continues For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Weekly Forecast – Weakness Expected to Continue Amid COVID-Related Demand Concerns EUR/USD Daily Forecast – Resistance At The 20 EMA Stays Strong AUD/USD and NZD/USD Fundamental Weekly Forecast – RBNZ to Announce Rate Hike; Aussie Labor Market Weakens Oil Prices Tumble On Weak Chinese Economic Data Bitcoin and Ripple’s XRP – Weekly Technical Analysis – August 16th, 2021 Bitcoin Price Prediction – Bulls Target $49,000 Levels. Avoiding sub-$46,500 will be Key || Strategic Investment Management, Llc Buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ...: - By insider Arlington, VA, based Investment company Strategic Investment Management, Llc ( Current Portfolio ) buys iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF, sells BTC iShares Core MSCI EAFE ETF, iShares MSCI World ETF, iShares Russell 3000 ETF during the 3-months ended 2021Q2, according to the most recent filings of the investment company, Strategic Investment Management, Llc. As of 2021Q2, Strategic Investment Management, Llc owns 12 stocks with a total value of $231 million. These are the details of the buys and sells. New Purchases: EFA, EEM, Added Positions: GLD, Reduced Positions: IEFA, URTH, IWV, IEMG, IWM, GSG, Warning! GuruFocus has detected 3 Warning Signs with SNOW. Click here to check it out. EFA 15-Year Financial Data The intrinsic value of EFA Peter Lynch Chart of EFA For the details of STRATEGIC INVESTMENT MANAGEMENT, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/strategic+investment+management%2C+llc/current-portfolio/portfolio These are the top 5 holdings of STRATEGIC INVESTMENT MANAGEMENT, LLC BTC iShares Core MSCI EAFE ETF ( IEFA ) - 955,556 shares, 30.95% of the total portfolio. Shares reduced by 23.46% iShares Core S&P 500 ETF ( IVV ) - 107,152 shares, 19.93% of the total portfolio. iShares Core MSCI Emerging Markets ETF ( IEMG ) - 670,322 shares, 19.43% of the total portfolio. Shares reduced by 4.47% iShares Russell 2000 ETF (IWM) - 86,110 shares, 8.54% of the total portfolio. Shares reduced by 6.38% iShares S&P GSCI Commodity-Indexed Trust (GSG) - 1,004,700 shares, 6.99% of the total portfolio. Shares reduced by 6.49% New Purchase: iShares MSCI EAFE ETF (EFA) Strategic Investment Management, Llc initiated holding in iShares MSCI EAFE ETF. The purchase prices were between $74.85 and $81.24, with an estimated average price of $78.57. The stock is now traded at around $81.325000. The impact to a portfolio due to this purchase was 2.98%. The holding were 87,360 shares as of 2021-06-30. New Purchase: iShares MSCI Emerging Markets ETF (EEM) Strategic Investment Management, Llc initiated holding in iShares MSCI Emerging Markets ETF. The purchase prices were between $51.78 and $55.85, with an estimated average price of $54.14. The stock is now traded at around $51.675000. The impact to a portfolio due to this purchase was 1.49%. The holding were 62,380 shares as of 2021-06-30. Here is the complete portfolio of STRATEGIC INVESTMENT MANAGEMENT, LLC. Also check out: 1. STRATEGIC INVESTMENT MANAGEMENT, LLC's Undervalued Stocks 2. STRATEGIC INVESTMENT MANAGEMENT, LLC's Top Growth Companies, and 3. STRATEGIC INVESTMENT MANAGEMENT, LLC's High Yield stocks 4. Stocks that STRATEGIC INVESTMENT MANAGEMENT, LLC keeps buyingThis article first appeared on GuruFocus . View comments || 4 possible benefits of the adoption of bitcoin in El Salvador, according to Bank of America: Analysts at Bank of America (BoA) , a US banking institution, believe that the adoption of bitcoin as legal tender can benefit El Salvador . This was explained in a global report, of which Nayib Bukele , president of the Central American country, published a fragment on his social networks. The report of the North American company explained four reasons why El Salvador could see benefits thanks to the adoption of the crypto asset, which are: 1. Reduce the cost of remittance transactions According to the institution, workers outside the country who send money could benefit from lower transaction costs and highlight that remittance flows in El Salvador are fundamental since they represent 24 percent of its GDP. The average cost of a cross-border remittance made at a traditional bank is over 10%, according to the Bank for International Settlements (BIS). According to the report, this would be equivalent to 2.4% of the Central American country's GDP. You may be interested: Cryptocurrencies are rebounding, should you invest in Bitcoin, Ethereum or Dogecoin right now? “Using bitcoin for remittances could potentially lower transaction costs compared to traditional remittance channels. The cryptocurrency could be used for the sender to convert their dollars to it and then transform them back to dollars domestically for the recipient. Volatility could be reduced if conversions happen automatically, ”says the document. 2. Financial democratization According to the BoA, the adoption of the digital currency would democratize access to electronic payments, since more than 70% of the adult population of the country does not have a bank account. 3. More options for the consumer The cryptocurrency could offer more options to consumers, "embracing innovation and doing more business with American companies." Likewise, the document clarifies that they do not agree with a coercive idea that companies are legally obliged to accept the cryptoactive. Both consumers and businesses can refuse, especially if they lack the technology to do so. Story continues 4. Potential to attract Foreign Direct Investment (FDI) Among the possible investments that the Central American country could attract, the BoA highlights payment platform developers, ATM manufacturers, and bitcoin miners, among others. Bitcoin in El Salvador In June of this year, the Congress of the Central American country approved a law that converts bitcoin into legal tender in the country. Its so-called “Bitcoin Law” establishes that the objective of the regulation of the crypto asset as legal tender is unrestricted with liberating power, unlimited in any transaction and for accounting purposes it uses the dollar as the reference currency. Read: 3 Popular Myths About Cryptocurrencies (And One Truth That Matters) || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group suspected of being behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. The demand, which was posted to an online blog, is believed to have been made by the core leadership of REvil, a Russia-linked cyber crime group known for hacking meatpacking company JBS, according to Reuters. The hackers first launched into their crime spree on Friday, hacking Kaseya, a Miami-based software firm helping companies manage software updates. Hundreds of companies around the world are believed to have been hit in the attack, with around a dozen countries believed to have been affected, according to cybersecurity firm ESET. According to NBC News, the group targeted individual computers and had initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. However, among those affected are also schools, credit unions, accountants and travel and leisure companies, Ross McKerchar, chief information security officer at Sophos Group Plc, told Reuters. The full scale and potential impact of the hacking effort is still unclear. On Sunday, the White House said it was reaching out to victims in the US to provide assistance based upon an assessment of national risk. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. Allan Liska of cybersecurity firm Recorded Future told Reuters he believed the hacking group may have bitten off more than it could chew by opting to scramble the data of so many companies all at once. He said he believed the $70 million demand was an attempt to make the best of the situation. For all of their big talk ... I think this got way out of hand, he said. Read More Meat producer JBS put $11m into the hands of its hackers. Is paying such a ransom ever justifiable? Story continues Hackers steal Electronic Arts code for FIFA, Madden, and Battlefield video games worth $28m Hacker closing out prison sentence in Chicago halfway house Former roommate of accused Capital One hacker sentenced
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Binance to Announce White-Label Exchange Infrastructure for Local Markets: Binance will soon be launching a digital asset trading platform that can be rebranded by smaller exchanges for their local markets.
Binance Cloud will offer local exchanges spot market and futures trading, as well as local bank API integrations and peer-to-peer (P2P) fiat-to-cryptocurrency exchange services, the company will say in a statement this week.
Implementing a product like Binance Cloud would relieve potential exchange operators of the software burdens involved in security and scalability. That gives them more time to worry about, say, getting the proper licenses and registrations in their jurisdiction.
Related:Derivatives Exchange Deribit Launches Daily Ether Options
Binance Cloud will offer the matching engine, security controls and liquidity of the main Binance.com exchange. So while an exchange may have its own branding and local fiat currency, the back end will basically be Binance itself, which will bring the benefit of more liquidity, albeit indirectly, and potentially in places where Binance doesn’t currently operate.
“The Binance Cloud service is an all-in-one solution, featuring an easy-to-use dashboard that allows customers to manage funds, trading pairs and coin listings, as well as multilingual support, depth-sharing with the Binance.com global exchange, and more opportunities to collaborate with the ecosystem,” the company said.
Soon, Binance also plans adding “staking and OTC (over-the-counter) trading services, as well as token launch capabilities via an IEO (initial exchange offering) platform.
This could mean Binance would have to compete withAlphaPoint, one of the largest infrastructure providers on the cryptocurrency exchange market today. Founded in 2013, AlphaPoint provides software services to some of the largest exchanges in the world, although it doesn’t discuss specific clients.
Related:Crypto Exchange FCoin Insolvent After Revealing Up to $130M Bitcoin Shortfall
Exchanges are not easy to build. There are many elements to consider such as order types and matching as well as other features. Security and scaling during massive bull runs are also huge concerns for exchanges.
Security has been an issue for Binance itself. It was breached in 2019 with $40.7 million stolenafter hackers accessed exchange users’ API keys and 2FA codes. While an explanation on further technical details was never published on the hack, the exchange covered the losses via its “Secure Asset Fund for Users” (SAFU) insurance fund.
• Binance CEO Says Crypto Exchange Has Applied for a Singapore License
• OKEx Partners With Bain-Backed Crypto Exchange to Launch Leveraged Futures in India || The continued growth of blockchain in Argentina: Despite an ongoing financial crisis, capital controls, and increasing measures to restrict access to foreign currencies, some industries in Argentina are doing well. Specifically, blockchain in Argentina is continuing to grow at a steady pace and, according to a recent survey, it is now leading the region. A closer look at blockchain in Argentina Last month, at the Labitcoinf 2019 held in neighbouring Uruguay, a spotlight was shone on cryptocurrencies and blockchain technology. As the most important conference in the region, during the event, it was announced that blockchain companies in Argentina had grown by 10% during 2019. It also emerged that Argentina is way out in front in terms of quality projects, leading some to believe that while it is still very much in its infancy, blockchain in Argentina has a very promising future. The perfect storm for blockchain There are many factors that are increasing the speed of implementation of blockchain in Argentina over other developing countries. In recognition of its qualities and potential use in the finance field, blockchain is now one of the four main topics of the Central Bank of the Republic of Argentina’s (BCRA) remit. The financial crisis has a huge part to play in this. Unlike previous crises in Argentina, there are now new alternatives to traditional problems. Those accustomed to converting their national currency, the Argentine peso, into dollars now find their options increasingly limited . As such, many young Argentinians are now choosing alternatives such as Bitcoin instead. The country’s population is highly tech-savvy, and citizens even have the option to top up their Buenos Aires transport cards ( the SUBE ) with Bitcoin. Another factor that makes this country ripe for blockchain adoption is the cost and complexity of traditional banking. As much as 52% of Argentinians are unbanked and financially excluded. This means that more than half of the country’s population does not have a bank account. They also cannot obtain credit through traditional means or save through traditional vehicles. Story continues This exclusion is once again turning many people towards financial alternatives such as cryptocurrency. The continued growth of the technology The number of users registered on different cryptocurrency platforms has grown rapidly in Argentina. The Ripio cryptocurrency exchange , for example, started operations in 2013 and now has more than 240,000 users. Bitcoin trading on peer-to-peer trading platform LocalBitcoins also registered a new all-time high in December in terms of trading volume. Moreover, the Private Capital Investment Association in Latin America states that more than $6.5 million was invested in blockchain companies in Argentina between January 2018 and May 2019. Blockchain in Argentina has the potential to tackle many problems. By allowing for traceability, accountability, and the removal of intermediaries, the country’s complex financial system could be turned on its head. In fact, many companies are already seeing success with the technology. There are currently 55 blockchain or cryptocurrency companies registered in Argentina, and many are already showing a promising return on investment. Wrapping it up Blockchain in Argentina is showing steady growth despite unfavourable market conditions. Moreover, Argentina’s population is increasingly turning to cryptocurrencies like Bitcoin as a means of shielding their wealth from rising inflation. As more and more use cases for blockchain emerge, it will be interesting to see how many of them come out of Argentina. The post The continued growth of blockchain in Argentina appeared first on Coin Rivet . || A Look At Bitcoin's Crazy Decade: Bitcoinended the 2010s just above the $7,000 per coin mark, which is far removed from it's all-time high of nearly $20,000 but also up a whopping 9,000,000 percent from its roots in July of 2010, according to Bloomberg.
Bitcoin's first transaction consisted of 10,000 coins in exchange for two pizzas back in 2010 when the digital coin had a value close to zero. Since then the price of a bitcoin has risen from eight cents to $7,230.58 which translates to a return of exactly 9,038,125 percent.
See Also: Boredom Is The Enemy? A Look At Bitcoin Since Peaking At ,000
Why It's Important
The narrative over bitcoin's purpose in society has also shifted over the past 10 years, Bloomberg's Eric Lam said Tuesday. At the very beginning, bitcoin was supposed to either "replace the U.S. dollar" or become the "next future medium of exchange."
Today, bitcoin is viewed as a form of "digital gold" that will rise in value and isn't meant to perform day-to-day transactions, he said. There are other digital currencies that are specifically designed for that purpose.
Over the years bitcoin has picked up a lot of skepticism and regulatory scrutiny which makes its path forward unclear, Lam said. While it's unlikely investors will see another 9 million percent return, "crazier things have happened" over the past 10 years.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Latest Bitcoin Cash price and analysis (BCH to USD): At the time of writing, Bitcoin Cash (BCH) is trading at around $202 after gaining over 3% since last week. Over the past 24 hours, BCH has lost more than 1.5%. In October, BCH rebounded spectacularly towards the end of the month in response to Bitcoin’s positive momentum. However, over the last two months , the crypto market has tumbled again and BCH has come crashing down. Will BCH start pushing higher again thanks to recent developments ? And if so, what are the next levels of support to look out for? Or will Bitcoin Cash drop further? Let’s take a look at the chart, courtesy of TradingView . As you can see from the chart above, the price of BCH recovered during late October before crashing around 45% as we moved through November. The October gains were lost and the price came crawling back down to as low as $200 as the huge market-wide meltdown hit the coin hard. And it seems that the downtrend is continuing as BCH has now fallen below $200 for the first time since March. In addition, Bitcoin Cash is now trading below all its EMAs. BCH needs to try and regain support at around $225, as there’s a steep drop to $170 below that. For the time being, I expect BCH to trade below its EMAs for a while and to attempt to recover towards the 200-day EMA – even though the market is showing no signs of a recovery just yet. Right now, volume sits at just above $1 billion – around half of what it was last week. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver , and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. Story continues I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Roger Ver to launch crypto exchange on Bitcoin.com By Oliver Knight – January 2, 2020 As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . The post Latest Bitcoin Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || Crypto asset manager sees bitcoin mining shift from China to North America: By Tom Wilson LONDON (Reuters) - The world's biggest cryptocurrency asset manager said on Tuesday it was seeing efforts to shift bitcoin production to North America from China, which dominates digital coin mining. Barry Silbert, founder of New York-based Grayscale Investments, made the observation in an online presentation to investors, without saying why the shift was occurring. Many mainstream investors such as pension funds or asset managers have been reluctant to embrace bitcoin <BTC=BTSP>, concerned at its volatility, security breaches and lack of transparent markets. Bitcoin, heavily favoured by enthusiasts and retail investors since it emerged more than a decade ago, has gained increasing interest from hedge funds and trading firms. Many are drawn to its potential for high returns in an era of rock-bottom interest rates. China's bitcoin miners control around two-thirds of the crypto network's processing power, research last year estimated. That dominance has allowed Chinese miners to produce greater numbers of coins, and has also stoked demand for mining gear produced in the country. "What I have seen recently, probably over the past three to six months, is a real growing shift towards attempts to move a lot of that activity outside of China into specifically the U.S. and Canada," said Silbert. PUZZLES EARN COINS Bitcoin miners - typically firms that run collections of highly-powered computers hooked up to cheap, plentiful electricity - compete against others in the bitcoin network to solve complex maths puzzles and earn new coins. At Tuesday's bitcoin price of around $10,300, miners produce bitcoin worth around $6.7 billion every year. The lucrative activity often takes place in cold climates or sparsely populated areas, such as Scandinavia and Quebec, because of the vast amounts of heat it produces. Chinese firms such as Bitmain have become among the world's biggest miners and manufacturers of bitcoin mining hardware. Another maker, Canaan <CAN.O>, launched an initial public offering in November, but got a lukewarm investor response. Story continues Grayscale, which oversees around $3.1 billion worth of cryptocurrencies, has been striving to attract larger investors to digital coins. Last month it became the first digital currency investment vehicle to attain the status of reporting company at the U.S. Securities and Exchange Commission, it said on Tuesday. This subjects its crypto products to the same reporting standards as those traded on major exchanges. (Reporting by Tom Wilson) || Is cryptocurrency a security?: The growing popularity of cryptocurrencies has led to a lot of heated debates about how they should be defined and regulated. The argument centres on whether cryptocurrencies should be classified as securities – and the answer could have major ramifications for the way the world of digital assets operates going forward. This is because anything classed as a security is regulated – in the US by the Securities and Exchange Commission (SEC) and in the UK by the Financial Conduct Authority (FCA). Many people argue this goes against the very nature of cryptocurrencies, which are anonymous by design, are not governed by any single authority, and aim to be free of centralised regulation. What is a security? To understand whether cryptocurrency is a security, it’s important to understand what a security actually is. A security is a tradable financial asset that has monetary value. It represents an ownership position in a publicly-traded corporation (via owning shares), a creditor relationship with a government body or a corporation (via owning bonds), or rights to ownership as represented by an option. The legal definition of a security varies by jurisdiction. In the US, a security is a tradable financial asset of any kind. In the UK, the FCA’s definition of a security applies only to equities, debentures, alternative debentures, government and public securities, warrants, certificates representing certain securities, units, stakeholder pension schemes, personal pension schemes, and rights to or interests in investments. The crypto security debate The SEC has been fairly open in its ponderings about whether cryptocurrency is a security. Under US law, a security includes an “investment contract” – which is defined as an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others. This is known as the Howey Test , and it essentially asks whether the value of a transaction for one of its participants is dependent upon the other’s work. Story continues SEC chairman Jay Clayton has clarified that Bitcoin is not a security . In an interview with CNBC in June, he stated: “Cryptocurrencies are replacements for sovereign currencies… [they] replace the yen, the dollar, the euro with Bitcoin. That type of currency is not a security.” Former CFTC chairman Gary Gensler has also stated that Bitcoin cannot be classified as a security. He pointed out that Bitcoin came into existence as mining began as an incentive in validating a distributed platform, with no initial token offering, no pre-mined coins, and no kind of common enterprise. Bitcoin has never sought public funds to develop its technology and it does not pass the Howey Test. Ethereum and Ripple The position is less clear when it comes to other cryptocurrencies such as Ethereum (ETH) and Ripple (XRP). Jay Clayton has endorsed remarks made by his colleague William Hinman that Ethereum is not a security . However, Gensler has warned that more than 1,000 cryptocurrencies are probably operating outside of US law and will have to come into regulatory compliance. He said that although Bitcoin is not a security, Ripple “sure seems like a common enterprise”. A council created by some of the major cryptocurrency exchanges – Crypto Ratings Council – seems to agree as it awarded XRP a four out of five in matching the criteria considered to be a security. It pointed out that Ripple sold XRP before the token had any utility and used a securities-like language when promoting XRP. Ripple CEO Brad Garlinghouse has since hit back at critics who have been “spreading fear, uncertainty, and doubt” about XRP, stating that the company’s token “ is not a security ”. Speaking at the MIT Business of Blockchain conference last year, Gensler highlighted the key distinctions that could determine whether tokens are securities. In a nutshell, if a coin offering is designed to give investors an ownership stake, the token should be treated like a security and subject to regulation. The FCA, on the other hand, recently suggested XRP is not a security because, like Ethereum, it can be used as a means of payment (exchange token) and to run applications (utility token). Conclusion Currently, the answer to the question “is cryptocurrency a security?” seems to be “it depends” or “sometimes”. Certain crypto tokens do appear to pass the Howey Test. However, their fundamental goal of being autonomous and distributed networks that are designed to be decentralised is at odds with the regulated nature of securities. What the regulators eventually decide will have a huge impact on the crypto world and its investors. The post Is cryptocurrency a security? appeared first on Coin Rivet . || 5 Numbers That Sum Up Trading Activity On OTC Markets In 2019: More than 10,000 securities trade on OTC Markets. Broken up into three tiersOTCQX, OTCQB, and Pinkthe OTC Markets connect U.S. investors with issuers from 38 countries and dozens of emerging industries. Below are five stats that sum up trading activity on OTC Markets top two tiers, OTCQX and OTCQB, in 2019: 10,755 The number of securities on OTC Markets as of December 31, 2019, up from 10,465 at the end of 2018 and more than the NYSE and Nasdaq combined. That figure includes 489 securities on the OTCQX Best Market, the top tier of OTC Markets typically for more established companies, and 959 on OTCQB Venture Market, the middle tier typically for emerging companies. 332 The number of securities added to the OTCQX and OTCQB Markets in 2019, slightly lower from the 369 that were added in 2018. Notable new names include the Grayscale Ethereum Trust (OTCQX: ETHE), an open-ended trust that holds Ethereum, and G5 Entertainment AB (OTCQX: GENTF), a Swedish developer and publisher of mobile games. The number includes securities that upgraded to different markets during the year. For example, Hugo Boss AG (OTCQX: BOSSY), which upgraded to the OTCQX Market from the Pink market in November, and KushCo Holdings, Inc. (OTCQX: KSHB), which upgraded to OTCQX from the OTCQB Venture Market in May. $82.745 billion The total combined 2019 dollar volume of all the securities on the OTCQX and OTCQB Markets. June was the month with the highest dollar volume on OTCQX, while September was the top month on OTCQB. 12 The number of countries represented among the 50 most actively traded (by dollar volume) securities on OTCQX. Twenty-three of the most-traded companies on OTC Markets in 2019 hail from North America (U.S., Canada, and Mexico), 24 from Europe (France, Germany, Ireland, Spain, Switzerland, The Netherlands, and the United Kingdom), one from South America (Brazil), and two from Australia. 14 The number of securities that experienced more than $1 billion in dollar trading volume in 2019. Of those 14, four trade on OTCQB and 10 trade on OTCQX. Story continues Swiss pharmaceutical giant Roche was the only security to top the $10 billion volume threshold (approximately $10.95 billion worth of Roche shares traded), while the Grayscale Bitcoin Trust finished second with roughly $9.6 billion worth of shares traded. Below are the top 20 most traded securities on the OTCQX and OTCQB markets in 2019 and their corresponding dollar volume. Roche Holding Ltd (OTCQX: RHBBY) OTCQX Switzerland $10,953,932,470 Grayscale Bitcoin Trust (BTC) (OTCQX: GBTC) OTCQX USA $9,619,684,425 Danone (OTCQX: DANOY) OTCQX France $2,423,997,538 Imperial Brands PLC (OTCQX: IMBBY) OTCQX United Kingdom $2,219,629,098 Charlotte's Web Hldgs Inc. (OTCQX: CWBHF) OTCQX USA $1,835,142,907 BNP Paribas (OTCQX: BNPQY) OTCQX France $1,708,943,692 Adidas AG (OTCQX: ADDYY) OTCQX Germany $1,481,660,075 BASF SE (OTCQX: BASFY) OTCQX Germany $1,306,660,533 Infineon Technologies AG (OTCQX: IFNNY) OTCQX Germany $1,298,380,864 Curaleaf Holdings Inc. (OTCQX: CURLF) OTCQX USA $1,088,115,648 Fannie Mae (OTCQB: FNMA) OTCQB USA $4,891,283,402 Fannie Mae (OTCQB: FNMAS) OTCQB USA $4,300,546,502 Freddie Mac (OTCQB: FMCKJ) OTCQB USA $3,550,202,161 Freddie Mac (OTCQB: FMCC) OTCQB USA $2,018,521,234 AXA (OTCQX: AXAHY) OTCQX France $935,140,570 Deutsche Telekom AG (OTCQX: DTEGY) OTCQX Germany $844,535,954 CV Sciences (OTCQB: CVSI) OTCQB USA $834,122,759 Repsol S.A. (OTCQX: REPYY) OTCQX Spain $734,024,351 Acreage Holdings Inc. (OTCQX: ACRGF) OTCQX USA $726,638,358 Anglo American plc (OTCQX: NGLOY) OTCQX United Kingdom $722,961,772 Image Source: Pixabay Show Advertiser Disclosure See more from Benzinga PreMarket Prep Recap, Feb. 4, 2020: TSLA Continues Its Unbelievable Move Exploring The SEC Plan That May Change How Over-The-Counter Securities Are Quoted 10 Cannabis Executives Present Their Plans For 2020 And Beyond © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Oil, gold fall and stocks rise as Trump says Iran 'standing down': The price of oil fell sharply on Wednesday after US president Donald Trump said Iran was “standing down”. In an address to the nation, Trump said Iran was backing off after a missile attack on US bases in Iraq overnight. The president said this was a “very good thing for the world”. President Donald Trump delivers a statement about Iran at the White House in Washington, US, on 8 January. Photo: Kevin Lamarque/Reuters Oil had been drifting lower over the day and fell sharply on the president’s comments. Crude ( CL=F ) was down 4.4% to $59.90 (£45.52) per barrel at 5pm UK time and Brent ( BZ=F ) was down 3.8% to $65.64 per barrel. Oil had rallied sharply in the days prior, amid fears about a possible conflict between the US and China that could disrupt supply. ‘Safe haven’ assets favoured by investors in uncertain times also sold off on Wednesday. Gold ( GC=F ) fell 1% to $1,558.40 an ounce and bitcoin ( BTC-USD ), which had been over 2% up on the dollar earlier in the day, dropped to trade flat against the greenback. US stocks rallied. The S&P 500 ( ^GPSC ), Dow Jones ( ^DJI ), and NASDAQ ( ^IXIC ) were all up 0.7% a piece shortly after the speech. “The statement was in keeping with [Trump’s] tweet in response to the retaliatory attacks carried out by Iran overnight and for now investors can breathe a big sigh of relief,” said David Cheetham, a market analyst at trading platform XTB. “It may be a little presumptuous to assume this is the end of the matter, with tensions no doubt set to linger, but the avoidance of any hints at further military action have calmed the market’s nerves.” Tensions between the US and Iran have ratcheted up in recent weeks and reached boiling point last Friday after a US airstrike killed one of Iran’s most prominent generals. Iran’s leader pledged “revenge” in the wake of the attack. However, Iran’s foreign minister said Wednesday on Twitter Iran was not planning any further action following the missile attacks on US-Iraqi bases. Despite signs of a de-escalation of military tensions, Trump said on Wednesday the US would be imposing additional “punishing” economic sanctions on Iran until the country “changes its behaviour”. || Dfinity launches an open-source platform aimed at the social networking giants: When Dfinity raised $102 million in funding in 2018 at a $2 billion valuation in a round jointly led by Andreessen Horowitz and Polychain Capital, it was thought of as a step-change in the world of blockchain technology. In an area that was synonymous with generating a lot of headlines around cryptocurrency speculation, this was a shift in focus, looking instead at the architecture behind Bitcoin, Ethereum and the rest, and how it could be used for more than just "mining," distributing and using new financial instruments -- with a major, mainstream VC backing the idea, no less. Dfinity launched with a very lofty goal: to build what it called the Internet Computer: a decentralized and non-proprietary network to run the next generation of mega-applications. It dubbed this public network Cloud 3.0. Now, it looks like this Cloud is now about to break. In Davos this week, Dfinity launched the Bronze edition of its Internet Computer, a limited release that takes the startup one step closer to its full commercial release, expected later this year. And to prove out the concept of how an application would run on its new network, Dfinity today demonstrated an open social network called LinkedUp. The startup has rather cheekily called this an open version of LinkedIn, the Microsoft-owned social network for professionals. Unlike LinkedIn, LinkedUp, which runs on any browser, is not owned or controlled by a corporate entity. LinkedUp is built on Dfinitys so-called Internet Computer, its name for the platform it is building to distribute the next generation of software and open internet services. The software is hosted directly on the internet on a Switzerland-based independent data center, but in the concept of the Internet Computer, it could be hosted at your house or mine: the compute power to run the application -- LinkedUp, in this case -- is coming not from Amazon AWS, Google Cloud or Microsoft Azure, but is instead based on the distributed architecture that Dfinity is building. Story continues Specifically, Dfinity notes that when enterprises and developers run their web apps and enterprise systems on the Internet Computer, the content is decentralized across a minimum of four or a maximum of an unlimited number of nodes in Dfinity's global network of independent data centers. And while the company initially was described as a blockchain-based system, that's also had some refinement. A spokesperson describes the Internet Computer as a "next-generation distributed computing system similar to its Mainframe, Client Server, and Public Cloud predecessors" that is based on cryptography. "While DFINITY is not building a traditional blockchain/smart contract platform, it uses advanced cryptography in its consensus layer [of the Internet Computer stack] to ensure apps and workloads have the same security guarantees as Bitcoin or Ethereum," the spokesperson added, "but its network of independent data centers ensures the speed and scale required by corporates and entrepreneurs." The Internet Computer also has governance tokens to ensure the ownership of the technology is distributed, he said. LinkedUp is a test case for all of this, and so Dfinity is open-sourcing LinkedUp for developers to create other types of open internet services on the structure it has built. This "open social network for professional profiles" suggests that, on Dfinitys model, one could create an "Open WhatsApp," "Open eBay," "Open Salesforce" or "Open Facebook." (Good news, since LinkedIn might not be so happy about a lookalike service with a name and layout that also looks very familiar, were it to go much further as a commercial endeavor. "While we cant comment specifically on any proposed trademark, LinkedIn does monitor and take action as necessary to protect our trademarks," a spokesperson said.) Big tech has hijacked the internet and stifled innovation by owning the proprietary infrastructure and user relationships,'' said Dominic Williams, founder and chief scientist at Dfinity in a statement. As a result, a handful of for-profit companies have created a monopolistic and closed internet. The Internet Computer provides a means to rebuild internet services in open form." So perhaps what we should be calling this is not LinkedUp, but more a new sort of Linux for the cloud. Dfinity claims the application was built by 1.5 engineers in three weeks," thus demonstrating how easy the infrastructure is to use. The tools include a Canister Software Developer Kit and a simple programming language called Motoko that is optimized for Dfinitys Internet Computer. "The Internet Computer is conceived as an alternative to the $3.8 trillion legacy IT stack, and empowers the next generation of developers to build a new breed of tamper-proof enterprise software systems and open internet services. We are democratizing software development," Williams said. "The Bronze release of the Internet Computer provides developers and enterprises a glimpse into the infinite possibilities of building on the Internet Computer which also reflects the strength of the Dfinity team we have built so far. Dfinity says its Internet Computer Protocol allows for a new type of software called autonomous software, which can guarantee permanent APIs that cannot be revoked. When all these open internet services (e.g. open versions of WhatsApp, Facebook, eBay, Salesforce, etc.) are combined with other open software and services it creates mutual network effects where everyone benefits. We quizzed Dfinity a little more on all this and asked whether this was an actual launch. A spokesperson told us: Since our first major milestone of launching a terminal-based SDK and new programming language called Motoko by the co-creator of WebAssembly on 1 November, DFINITY has released 13 new public versions of the SDK, to our second major milestone [at WEF Davos] of demoing a decentralized web app called LinkedUp on the Internet Computer running on an independent data center in Switzerland. Subsequent milestones towards the public launch of the Internet Computer will involve (1) on-boarding a global network of independent data centers, (2) fully tested economic system, and (3) fully tested Network Nervous Systems for configuration and upgrades. It also looks like Dfinity will not be raising more money just yet. But the question is how they plan to woo people to it? "Dfinity has been working with a select group of Fortune 500 companies, strategic consultancies, systems integrators, venture capitalists, and universities," the company said. We are not sure that it will quite suffice to take out Facebook, LinkedIn, and all the other tech giants, but we're fascinated to see how this plays out. || Latest Ethereum price and analysis (ETH to USD): At the time of writing, Ethereum (ETH) is trading at around $143 following a 10% increase in price since last week. Over the past 24 hours, ETH has gained close to 1.5%. The world’s second-largest cryptocurrency by market cap had been consolidating to the downside for the last two months of 2019 before a massive green candle took price back above its 20-day EMA this week. As mentioned last week , the uncertainty around ETH’s price action could mean a continuation of bullish momentum. Let’s take a look at the chart for Ethereum, courtesy of TradingView . During the second half of 2019, ETH was attempting to consolidate and recover following the huge market downturn in the summer. The altcoin experienced huge drops in September and November before an early-2020 market spike took ETH from around $123 to over $140. However, Ethereum is still over 50% down from last year’s high, meaning there’s still a long way to go before the coin recovers completely. I personally think the positive trend ETH is experiencing at the moment has a strong chance of continuing for the next few weeks. The current ETH/USD trend As a result of this week’s positive momentum, ETH has climbed back up and is now clinging on to its 20-day EMA – a bullish signal. Looking at the current Bitcoin trend, I expect price to continue pumping towards the 50-day and 200-day EMAs over the next week. For now, I would aim at making minor entries while the price is still below the 200-day EMA. Volume-wise, ETH is hovering close to $10 billion – close to five times higher than the previous weeks. At the moment, buyers are taking control, which means volatility can be expected to increase. Since ETH is also close to the lowest support level intervals (according to the volume profile), we should expect the price to keep rebounding. Right now, Ethereum is holding above $140. If there’s another swing to the upside, I expect ETH to face resistance near the 200-day EMA, between $170 and $180. Story continues On an equally positive note, the Istanbul upgrade has been implemented successfully with only a few minor issues . This hard fork was quite an important step towards ETH 2.0 and has implemented improved functionality and lower gas fees. I personally believe we can expect a testnet release of the new Casper PoS soon, at least by the first quarter of 2020. Safe trades! About Ethereum Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum. Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy in to his proposal. More Ethereum news and information If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Ethereum adopts ERC-1155 as an official standard As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . The post Latest Ethereum price and analysis (ETH to USD) appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52, 8784.49
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-03-07]
BTC Price: 3911.48, BTC RSI: 56.81
Gold Price: 1283.80, Gold RSI: 37.31
Oil Price: 56.66, Oil RSI: 58.25
[Random Sample of News (last 60 days)]
Hodler’s Digest, Jan. 14–20: Top Stories, Price Movements, Quotes and FUD of the Week: Ethereum’s Constantinople Hard Fork Delayed Until February After Vulnerability Found
Ethereum’s (ETH) Constantinople hard fork has beendelayeduntil late February after smart contract audit firm ChainSecurityfounda security vulnerability allowing a reentrancy attack. The security bug found wouldpotentially let an attacker steal crypto from a smart contracton the network while requesting funds from it repeatedly while feeding it false data. In the aftermath of the discovery, Ethereum developers said that the activation would instead take place at block number 7,280.000, which is expected to be mined on Feb. 27, 2019,instead of in January. Before the bug was found, an Ethereum developer hadsaidthat the hard fork would be the least eventful in the history of Ethereum.
New Zealand Crypto Exchange Reports Hack, Local Police Start Investigation
New Zealand digital assets exchange Cryptopiareportedthat a major hack had resulted in significant losses this week. In response, the New Zealand police havereleaseda statement that they are investigating the reportedly major hack, that involved anunconfirmed amount of around $3.6 million. According to the police, the exchange is cooperating with the investigation, and they are still in the process of ascertaining the process of events. In the wake of the reported hack, a lawsuit has been relaunched involving traders who claim they lost funds held on the exchange over a year ago.
NYSE-Backed Digital Assets Platform Bakkt Announces First Acquisition
Bakkt, the digital assets platform that is backed by the operator of the New York Stock Exchange (NYSE),announcedan acquisition this week of some assets in futures commission merchant Rosenthal Collins Group (RCG). According to a Medium post, Bakkt CEO Kelly Loeffler noted that this move is part of Bakkt’s plans tocontinue operations while awaiting regulatory approvalby theUnited StatesCommodity Futures Trading Commission (CFTC) for the launch of regulated trading in crypto markets. Bakkt had previouslyannounceda target launch date of the end of January, but the platform is still waiting on approval amid the United States’ ongoing government shutdown.
New Wyoming Legislation Aims to Define Virtual Currencies as Money
A bill introduced in the U.S. state ofWyomingthis week ismeantto define clarify the definition of cryptocurrency. According to the legislation, crypto assets will be placed in one of three categories:digital consumer assets, digital securities and virtual currencies. In the draft, banks will also be authorized to provide digital asset custodial services, and serve as qualified custodians in accordance with regulations put in place by the U.S. Securities and Exchanges Commission (SEC). The bill also grants virtual currencies the same treatment as fiat.
American University Researchers Jointly Launch Global Scalable Cryptocurrency
A group of researchers from American universitiesannouncedthis week that they are launching a globally scalable and decentralized payments network, with a cryptocurrency dubbed “Unit-e.” The development of the crypto is being funded by Distributed Technologies Research, a Swiss non-profit, with researchers from the Massachusetts Institute of Technology (MIT), Stanford University and the University of California, Berkeley, among others. The researchers have reportedlyreceived funding from blockchain investment fund Pantera Capital.
The crypto markets are slightly up at the end of the week, with Bitcoin trading at around $3,730, Ripple at around $0.33 and Ethereum at $124. Total market cap is at about $124 billion.
The top three altcoin gainers of the week are PayPie, PlayerCoin and TRONCLASSIC. The top three altcoin losers of the week are ICOBay, HondaisCoin and PitisCoin.
For more info on crypto prices, make sure to read Cointelegraph’smarket analysis.
“[Volatility] is not a reason to bury them [cryptocurrencies]. There is both a bright side and a dark side here, as well as in any social phenomena and any economic institution. We should monitor carefully what is going on in the space”—Dmitry Medvedev, prime minister of Russia
“This has hampered innovation and left many American businesses in regulatory limbo, particularly with respect to whether or not their tokens are classified as securities,” —George Nethercutt, former Republican Representative speaking on the perceived slowness of regulators
“The ICO mania of 2017 — we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting,” — Cameron Winklevoss, co-founder of cryptocurrency trading platformGemini
"It's a gamble. You're not going to get the same returns as you would if you had gotten in on it early because it became mainstream and everybody know [sic] about Bitcoin now,”Soulja Boy, rapper, speaking about cryptocurrency trading
Crypto Analyst Brian Kelly Believes Bitcoin ETF Won’t Be Approved in 2019
Brian Kelly, a crypto analyst that regularly contributes to CNBC,saidthis week in an interview with Cointelegraph that there is no real chance for a Bitcoin exchange-traded fund (ETF) to be approved in 2019. When speaking about the crypto market in general, Kelly did say that 2019 will end up better than 2018 as he believes that the bear market is almost over. However, even though Kelly believes that Bitcoin will become a more accepted asset among mainstream investors, he told Cointelegraph that there is“no shot” for government approvalfor a BTC ETF.
Torrent Movie File Malware Can Replace Cryptocurrency Addresses, Research Shows
A new type of crypto-related malware thatposesas a movie file from torrenting website The Pirate Bay is able to manipulate web pages in order to replace Bitcoin and Ethereum addresses, according to new research. The malwareperforms multiple actions, both injecting advertising onGoogleas well as containing malicious code for the address switching in the movie file that purports to be a link for The Girl in the Spider’s Web. According to the research, the malware works when Windows PC owners use the copy+paste function, swapping out crypto wallet addresses for those owned by the hacker.
Cryptojacking Malware Disables Cloud-Based Security on Linux, Report Finds
A Monero (XMR) mining malware has befoundto contain the ability to disable cloud-based security measures toavoid its detection on Linux servers, according to research conducted by security firm Palo Alto Networks this week. The malware, reportedly a modified version of the one used by the “Rocke” group, checks for other crypto mining processes and adds firewall rules to block any other cryptojacking malware already active. According to the research, the malware also looks for cloud security measures from Tencent andAlibaba, and is able to neutralize them.
Cryptopia Alleged Hack: Police Are on the Case While Community Tracks Down Stolen Funds
In the wake of the reported $3.6 million hack of the New Zealand cryptocurrency exchange, Cointelegraph looks at the history of the incident as well as the public’s reaction. Even after the police have announced their involvement, the crypto community has put forward doubts online about the incident.
What We Know About Google Ads Allegedly Blacklisting ‘Ethereum’ as a Keyword
After Decenter reported that their Google Ads were being blocked for using “Ethereum” as a keyword, a Cointelegraph follow-up looked into whether the rumors are true. Hint? They are.
Blockchain-Powered Prediction Platforms: Governance and Uses Beyond Gimmick Markets & Death Pools
After the recent allegations that crypto prediction platform Augur only has about $100,000 at stake on their platform, Cointelegraph looks into the various other problems that can arise on related platforms.
• Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia
• Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018
• Binance Freezes ‘Some’ Tokens Stolen From Cryptopia: CEO CZ
• Windows Torrent File Malware Can Swap Out Crypto Addresses, Researcher Warns || Student anger as professor ‘slams Bitcoin’ but praises Ripple – where she’s a board member: A Stanford University professor who is on Ripple’s board of directors has been accused of praising the cryptocurrency while slamming rival Bitcoin in a presentation. Student Conner Brown recently attended a presentation about crypto by Professor Susan Athey and claims she misinformed students about Bitcoin while also promoting Ripple. Professor Athey joined Ripple Lab’s board of directors in 2014 . Brown claims he took his concerns to his professors, but they would not talk to him in person. He then sent an email to Stanford professors and claims that too has been ignored. Coin Rivet has reached out to Professor Athey for a comment. Misinformation Brown has now taken to Twitter to air his misgivings. He claims Professor Athey said Bitcoin is “controlled by a small group of miners in China” and is not secured cryptographically but economically. He said: “She argued that mining means your funds are only secured by profits of miners. “She went on to claim that Ripple has solved this problem by removing miners from the picture.” Brown inquired into why Ripple sells its token to retail investors if the token is supposed to be used for bank liquidity. Professor Athey reportedly responded by stating Ripple “routinely disburse the token” while denying Brown’s comment. Community response Many in the crypto community praised Brown’s actions. Notably, Riccardo Spagni – lead developer at Monero – thanked Brown. Thank you for having Bitcoin’s back!! — Riccardo Spagni (@fluffypony) February 24, 2019 Another Twitter user, Calvin Chu, wrote: “I heard her speak last year at uchicago and also mentioned some Ripple comments at the time which I though were questionable.” Very well written points. i heard her speak last year at uchicago and also mentioned some ripple comments at the time which I thought were questionable. Thank you for speaking up. — Calvin Chu (@radicalvin) February 24, 2019 Meanwhile, Alex Magnus suggested that Professor Athey holds an equity position in Ripple. Story continues . @Susan_Athey holds an equity position in @Ripple , and is using her position @stanford to mislead students with deliberately false information. Why is this not a bigger deal?! Good job man, hopefully this comes to light. — Alex Magnus (@alexmagnusBTC) February 24, 2019 While an overwhelming majority are in Brown’s corner, some were quick to pick up that his own responses might not necessarily be correct. Several people got involved and posted their own thoughts. Agree w everything you said except your first and last points: 1. $BTC mining is indeed centralized, and a 51% attack works by changing node’s decisions regarding validity of tx’s 2. If you enter the wrong $BTC address, it’s gone. Fact. QR’s are great but that wasn’t a lie. — David Goosenberg (@dg3984a) February 25, 2019 Interested in reading more about crypto at university level? Discover how MIT and Stanford academics are teaming up to deliver a cutting-edge cryptocurrency. The post Student anger as professor ‘slams Bitcoin’ but praises Ripple – where she’s a board member appeared first on Coin Rivet . || Crypto Prices See Calm as ZB.Com Bypasses Binance to Become Top Exchange: Friday, Jan. 18 — crypto markets continue to see calm, with all top ten coins seeing mixed 24-hour price changes capped within a 3 percent range, as Coin360 data shows. Market visualization from Coin360 Market visualization from Coin360 On CoinMarketCap (CMC)’s crypto exchange rankings by adjusted daily traded volumes , however, some major upheavals are underway. Today, Chinese exchange ZB.com saw an 80 percent surge in 24-hour trade volume to hit ~$606.7 million, and displacing Binance as top exchange on CMC. ZB.com is currently ranked the largest exchange globally; however, during the time of writing, a separate China-based exchange, LBank, has flickered in and out of the top spot, at several points posting over 150 percent increase in trades on the day to hit volumes of ~$800-900 million. Up to press time, the exchanges volumes had fleetingly reduced to ~$380 million, thus dropping back to fourth place. First three top crypto exchanges by adjusted daily trade volume First three top crypto exchanges by adjusted daily trade volume. Source: CoinMarketCap Around 47 percent of the trade volume on ZB.com is accounted for by Qtum-Tether (QTUM/USDT) trading, according to CoinMarketCap data . Trade volumes of formerly top platform Binance have meanwhile dropped 14 percent on the day, seeing ~$550 million in trades. Commentators on crypto twitter have remarked on the conspicuous uptick, with Twitter persona TheFist claiming: “Looks like a ton of market manipulation by zb.com tanking most digital assets and trying to pump tron. The Chinese are dump and pumping last night[.]” Meanwhile, according to a tweet from ZB.com Jan. 16, crypto ranking website CoinGecko has released its own exchange rankings for Q4 2018, which places ZB.com as the second largest by median reported volume: CoinGecko’s crypto exchange rankings for Q1 2018 CoinGecko’s crypto exchange rankings for Q1 2018. Source: ZB.com Twitter Considerably less volatile, top cryptocurrency Bitcoin ( BTC ) has seen negligible price change over the past 24 hours, down 0.45 percent on the day to trade at $3,645. After an intraweek low of ~$3,550 Jan. 13, Bitcoin has recovered to trade just 1.6 percent down on its 7 day chart. On the month, the coin is up by 3 percent. Story continues Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ripple ( XRP ) — which has regained its spot as largest altcoin by market cap — has also seen mild price change on the day, losing 1.2 percent to trade ~$0.32 at press time. With a market cap of $13.3 billion to press time, Ripple is only just ahead of Ethereum ( ETH ), which has a market cap of around $12.6 billion to press time, according to CoinMarketCap data. Ripple is now down around 3.5 percent on the week, and down 2.4 percent on the month. Ripple’s 7-day price chart Ripple’s 7-day price chart. Source: CoinMarketCap Ethereum has seen a similarly mild 1.6 percent loss to trade at ~$121. The altcoin is down close to 6 percent on its 7-day chart; on the month, growth remains at a bullish 27 percent. Ethereum 7-day price chart Ethereum 7-day price chart. Source: CoinMarketCap Among the remaining top ten coins on CoinMarketCap , all are in the red, seeing losses capped below 3 percent. EOS ( EOS ) is seeing the heaviest losses on the day among the top ten coins, down 2.7 percent to press time. Among the top twenty, losses are also capped near 3 percent — with Ethereum Classic ( ETC ) losing the most, down 3.2 percent on the day to trade at $4.33. Binance Coin ( BNB ) and IOTA ( MIOTA ) are the only coins in the green, with the former up a solid 3.9 percent and the latter up just a fraction of a percent to press time. Total market capitalization of all cryptocurrencies is at around $121.2 billion as of press time — down around 1.6 percent on the week. 7-day chart of total market capitalization of all cryptocurrencies 7-day chart of total market capitalization of all cryptocurrencies. Source: CoinMarketCap Speaking against the tide in a tweet posted today, Morgan Creek investment analyst Chris King stated: “I used to pound the table on tokenized securities. As new information on the market was presented I’ve completely changed my view. Not much value will be captured by “tokenizing” traditional securities. -no liquidity or liquidity premium -no demand -no value creation.” Tokenized securities have been gaining significant traction with industry leaders, as exemplified by the words of Bitcoin bull and co-founder of Gemini exchange, Cameron Winklevoss , who recently remarked: “I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting.” Related Articles: Bitcoin Holds Above $4,000 Amid Checkered Market Outlook Crypto Markets Attempt to Stem Recent Losses, Some Top Alts See Solid Green Total Market Cap Drops $5 Billion as All Major Coins Take Price Hit Bitcoin Sees New 2019 Lows as Crypto Markets Slide Down || The Aussie Dollar Takes a Hit, with the Focus Shifting to Stats and the USD: There were no material stats released through the Asian session this morning to provide direction. The lack of stats left the markets to focus on Trump’s State of the Union speech and central bank commentary through the morning.
Following some particularly weak economic data out of Australia on Tuesday, RBA Governor Lowe spoke in the early part of the session.
An Aussie Dollar rebound on Tuesday came following the release of the RBA Rate Statement that refrained from mentioning the possibility of a rate cut. Following disappointing retail sales and trade figures, Governor Lowe talked of an equal chance of either a rate hike or a rate cut.
The Aussie Dollar coughed up Tuesday’s gains, with the prospects of a rate cut more likely than not should wage growth fail to accelerate. The lack of wage growth, falling house prices, ballooning household debt and negative sentiment towards the economic outlook would suggest that an equal chance of either a hike or a cut is on the more optimistic side.
TheAussie Dollarmoved from $0.72383 to $0.71777 on Governor Lowe’s comments, before falling further to $0.7153 at the time of writing, a loss of 1.12% for the session.
Elsewhere
The Japanese Yen stood at ¥109.76 against the Dollar, up by 0.18% for the session. The Kiwi Dollar was down by 0.39% to $0.6869.
Trump’s State of the Union speech had a relatively muted impact on market risk appetite through the morning, with the Asian equity markets making reasonable gains.
The Aussie Dollar’s slide will have contributed to the Kiwi Dollar’s early losses, while ¥110 levels appear to be the near-term floor for the Yen against the Dollar. Economic uncertainty continues to provide near-term support for the Japanese Yen.
Economic data scheduled for release later this morning is limited to December factory order numbers out of Germany. Forecasts are for a partial recovery from November’s 1% slide and the numbers will need to be better than forecasts to provide the EUR with any support.
Trump’s State of the Union speech will be a negative for the EUR near-term, with focus on trade terms suggesting that the EU may be next on the U.S Administration’s hit list. Throw in Brexit and the possibility of a no deal and the EUR could be in for a choppy few weeks ahead.
At the time of writing, the EUR was down 0.06% to $1.1399.
There are no material stats scheduled for release out of the UK today. Focus through the day will remain on Brexit and tomorrow’s BoE monetary policy decision and forecasts for both, inflation and growth.
On the news front, the British PM is in Northern Ireland and Irish PM Varadkar is in Brussels to discuss contingency plans in the event of a no-deal departure from the EU.
Activity has certainly picked up, with time running out and Britain no closer to addressing the Irish backstop issue that has hindered negotiations.
At the time of writing, the Pound was up 0.09% to $1.2957, with Brexit chatter the key driver throughout the day.
Trump’s State of the Union speech this morning saw the Dollar Spot Index fall from $96.14 to $96.04 before recovering. The Dollar was unruffled by Trump’s talk of trade, immigration and the need for the Mexican Wall.
For the day ahead, economic data scheduled for release includes 4thquarter nonfarm productivity and unit labor cost figures and November’s trade data. The focus will be on the unit labor cost figures, which are forecasted to be Dollar positive.
Outside the numbers, we can expect more chatter from the U.S President through the day.
At the time of writing, the Dollar Spot Index was up by 0.01% to 96.08.
Economic data scheduled for release include building permit and housing start figures, which will unlikely to have a material impact on the Loonie, leaving the focus on January’s Ivey PMI.
Forecasts are for the Ivey PMI to come in on the softer side, which would be a negative for the Loonie.
Outside of the numbers, Bank of Canada deputy governor Lane is scheduled to speak, with any chatter on monetary policy likely to have a material influence ahead of the Ivey PMI release.
The Loonie was down by 0.18% to C$1.3150, against the U.S Dollar, at the time of writing.
Thisarticlewas originally posted on FX Empire
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• Commodities Daily Forecast – February 6, 2019 || Bitcoin Basher Jamie Dimon Says He’s Not Gloating over Crypto’s Plunge: ByCCN.com: JP Morgan CEO Jamie Dimon became the undisputed captain of the bitcoin-bashing brigade in 2017 when he said that the white-hot cryptocurrency was a "fraud" that would eventually crash to zero. Now that the cryptocurrency market bubble has popped, though, he said that he doesn’t want to gloat.
Speaking on sidelines of the World Economic Forum in Davos, Dimon told CNBC that he "didn’t take any" joy in the fact that thebitcoin price, which once broached $20,000, has dropped 82 percent from its all-time high to a present level of $3,572.
Even so, Dimon couldn’t resist taking another swipe at bitcoin, if only indirectly, by praisingblockchain, which he says is a "real technology."
Read the full story onCCN.com
. || Blockchain Intelligence Firm Chainalysis Raises $30 Million From Accel, Others: New York -based blockchain intelligence firm Chainalysis has raised $30 million in a Series B funding round led by venture capital giant Accel, the company confirmed in a post on Feb. 12. The fresh funding will reportedly be used to expand Chainalysis’ corporate operations, which include a proprietary Know Your Customer ( KYC ) product that allows financial institutions and digital asset trading platforms to vet and verify the identity of their clients. The firm reports that the latest funding round was led by Accel, “with participation from existing investors.” Chainalysis reports that it also plans to open an office devoted to research and development in London, with Accel partner Philippe Botteri set to join the firm’s board of directors. In an interview with American business magazine Fortune , Chainalysis CEO Michael Gronager revealed that, whereas 90 percent of the firm’s revenue formerly came from clients in the law enforcement sector — who used Chainalysis’ blockchain analytics tools to track illicit use of cryptocurrencies — corporate clients now comprise the lion’s share of the business, at 60 percent. Aside from diversifying research and products, Gronager told Fortune that Chainalysis was benefiting from the momentum of the burgeoning stablecoin sector. As previously reported, 2018 saw the proliferating issuance and adoption of new stablecoins — a type of crypto asset designed to experience less price volatility — either by being notionally fiat -collateralized or via an algorithmic peg. Chainalysis’ CEO remarked: “Born out of the ashes of this [the crypto bear market and initial coin offering downturn] was the stablecoin as another way to easily and safely create tokens. This ability to trade U.S. dollars against crypto is very powerful.” While not disclosing financial specifics, Gronager told Fortune that Chainalysis’ revenue had grown threefold since April 2018, when it raised $16 million from Benchmark Capital to increase the number of cryptocurrencies it monitors. However, the company has yet to become profitable, he noted. As reported, Chainalysis also conducts research into the blockchain sector. This January, a report from the firm argued that two — likely still active — organized hacker groups have reportedly stolen $1 billion in cryptocurrency, accounting for the majority of funds lost in crypto-related scams. Chainalysis’ co-founder and chief operating officer, Jonathan Levin , notably declined to comment as to whether the firm had contributed to the United States Department of Justice investigation into the alleged use of Bitcoin ( BTC ) to fund purported interference in the U.S. 2016 presidential elections. In connection with said allegations, 12 Russian intelligence officers were indicted in July 2018 . Story continues Related Articles: Circle’s Head of Partnerships Joins Blockchain Startup Celo UC Berkeley Launches Accelerator for Early Stage Blockchain Startups Moscow Gov’t to Launch Blockchain-Enabled IT Innovation Cluster by Summer 2019 Intercontinental Exchange CEO: Bakkt Will Launch Later This Year View comments || Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 21: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by theHitBTCexchange.
Marcus Hughes, the United Kingdom lead counsel for major United States crypto exchange and wallet provider Coinbase, expects hugedevelopmentsfor Bitcoin (BTC) in the next two years.
Hughes is confident about the European Union coming up with a more defined regulatory framework for crypto in 2019. After the regulations are in place, Hughes anticipates large investment banks to finally enter the scene.
U.K.-based investor and entrepreneur Alistair Milne is confident that Bitcoin will break out of its lifetime high and sustain above it. He has based his opinion on the anticipated increase of the level of adoption of the leading cryptocurrency. Milne is certain that Bitcoin will survive for another100years.
Similar to how prices tend to overshoot to the upside during a bull market, they also usually overshoot to the downside. Changpeng Zhao, the CEO ofBinance, believes that a lot of development has taken place in the crypto space, implying that cryptocurrencies are currently undervalued.
So should the traders start buying? Let’s find out.
Bitcoin (BTC) has been trading below the moving averages since Jan. 10. Attempts by the bulls to push the price higher have been met with selling at the moving averages. This is a bearish sign.
The cryptocurrency hasn’t been able to make a higher high and a higher low, a signal that we were watching out for. A set of higher highs and higher lows would indicate a probable change in trend.
If the bears force the price below $3,236.09, it will be a new lower low that would confirm the continuation of the downtrend.
The first sign of a probable change in trend will be when theBTC/USDpair breaks out of the downtrend line and sustains above it. The recovery will gain strength if the bulls scale above $4,255. Until then, every rise to the resistance levels will be sold into.
We might suggest long positions closer to $3,236.09 if the price rebounds sharply from the support, because that would indicate a strong demand at lower levels. Another probable trade can be taken on a breakout above $4,255. Until then, we suggest traders remain in a wait and see mode.
Ripple (XRP) has been trading in a tight range since Jan. 11. This is unlikely to continue for long. We expect either a breakout or breakdown from this range within the next few days.
The downtrending moving averages and the RSI in the negative area suggest that sellers are at an advantage. If the bears force a breakdown below the range, theXRP/USDpair can drop to $0.27795.
On the other hand, if the bulls push the price above the moving averages and the downtrend line, the digital currency can move up to $0.4. We suggest traders wait for a bullish pattern to form before jumping in to buy.
Ethereum (ETH) plummeted below the immediate support of $116.3 on Jan. 20, but the bears could not sustain the lower levels. The bulls pulled back from the lows and closed (UTC time frame) above the support line.
If theETH/USDpair fails to find buyers at higher levels and reverses direction, it can fall to $107.51, and if that support also breaks, a drop to $83 will be possible. The downtrending 20-day EMA, as well as the RSI in the negative territory confirm that the sellers have the upper hand in the short term.
The digital currency will show strength if it breaks out of $134.5. It can then rally to $167.32, which is likely to act as a stiff resistance.
Bitcoin Cash (BCH) has been trading in a tight range of $120–$137.26 for the past 10 days. This shows that both the buyers and the sellers have stopped actively trading it.
If the bears push the price below $120, theBCH/USDpair can plunge further to $100, and below that a retest of the lows around $73.5 will be probable. The falling moving averages, and the RSI below 40 levels suggest that the sellers have the upper hand.
Our bearish view will be invalidated if the cryptocurrency scales above both the moving averages and the $137.26 mark. We shall wait for a reliable buy setup to form before proposing a trade.
EOSis currently range bound between $2.3093 and $3.2081. The bears are attempting to break down of the range, while the bulls are trying to defend it.
On Jan. 13 and 14, theEOS/USDpair bounced off the support of the range, but the bulls could not carry it above the 20-day EMA. This is a bearish sign. Any break of the immediate support of the range, and the $2.1733 mark, can result in a fall to $1.7746, and further to $1.55.
Our bearish view will be invalidated if the cryptocurrency bounces off the support of the range and sustains above $2.5840. If that happens, a rally to the resistance of the range at $3.2081 will be possible. We might suggest long positions above $2.6.
The bulls attempted to carry Stellar (XLM) higher on Jan. 19, but could not scale the 20-day EMA. Currently, the bears are attempting to break down of the immediate support at $0.10235190.
If they are successful, a drop to the yearly low of $0.09285498 will be probable. If this level breaks down, theXLM/USDpair will resume its downtrend. Both moving averages are sloping down, and the RSI is in the negative zone, which suggests that the bears have the upper hand.
The first sign of a likely change in trend will be when the bulls succeed in pushing the price above the downtrend line of the symmetrical triangle. A confirmation of strength will be when the pair sustains above $0.13427050. We shall wait for a trend reversal before recommending a long position.
The bears are not allowing Litecoin (LTC) to sustain above the 20-day EMA, while the bulls are not allowing the price to plummet below $29.349.
If theLTC/USDpair plunges below $29.349, it could slide further to $27.701, below which a fall to the yearly lows of $23.090 will be likely. The downtrend will resume if the price breaks down to new yearly lows.
Conversely, if the bulls push the price above the 20-day EMA, the virtual currency could rally to $36.428, and beyond that to $40.784. The flat moving averages and the RSI close to 50 levels suggests a balance between the buyers and the sellers.
The next move will happen when this balance tilts in favor of either of the parties. For now, the traders who own long positions can keep a stop loss at $27.5.
Tron (TRX) has corrected to the 20-day EMA, which might act as a support. However, if the bears break below this support, a fall to $0.02113440, followed by a drop to the 50-day SMA will be probable.
TheTRX/USDpair has been range bound since Aug. 8, 2018. Attempts to break out or break down of this range have been unsuccessful and the price always returned into the range.
There are two possible trade opportunities. The traders can either buy closer to $0.0183 and expect the price to reach $0.02815521, or they can buy on a close (UTC time frame) above $0.02815521.
The uptrending moving averages suggest that the bulls have the upper hand. We shall turn negative on the cryptocurrency if the price slumps and sustains below $0.0183.
Bitcoin SV (BSV) is gradually giving up ground, which shows a lack of buying support at the current levels. If the price sustains below $74.022, a drop to the next support at $65.031 will be probable.
The 20-day EMA is gradually sloping down, and the RSI is in the negative territory. This shows that the bears have an advantage in the short term. If theBSV/USDpair breaks below $65.031, it will result in liquidation of long trades. The supports on the downside are at $57, and below that at $38.528.
Our bearish view will be negated if the digital currency scales above both moving averages. We shall wait for the trend to turn positive before recommending any trades.
Cardano (ADA) is currently trading inside an ascending channel. Usually, the price oscillates between the support and the resistance line of the channel. It reached the resistance line of the channel on Jan. 10, from where it turned down, and is now likely to fall down to the support line of the channel.
Having broken below the 20-day EMA, theADA/USDpair might find support at the 50-day SMA. If this support breaks, the buyers might step in at the support line of the channel.
Our expectation of a drop to the support line of the channel will be invalidated if the cryptocurrency turns around from the current levels and breaks out of the 20-day EMA.
We couldn’t find any reliable buy setups at the current levels. The flat moving averages, and the RSI close to the midpoint suggest a consolidation in the near term. Because of these factors, we remain neutral on the pair.
The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView.
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• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 9
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 || Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings: The security token exchange subsidiary of e-commerce retail giant Overstock , tZero, has started releasing control of its tokens, according to a letter to investors released on Jan. 11. Last August, the subsidiary had announced that its security token offering would close, having raised $134 million out of the maximum amount of $250 million previously specified. In June 2018, tZero had also signed a letter of with investment company GSR Capital for the purchase of $160 million in tZero Security Tokens. According to tZero CEO Saum Noursalehi’s letter, investors now have the option of choosing where to hold their security tokens, either by creating a brokerage account with Dinosaur Financial Group, a tZero partner and broker dealer, or holding them in a person wallet with a two-step verification system. He wrote: “As you are aware, on October 12, 2018 we completed the issuance of the tZero security tokens. The tokens have been locked up in wallets maintained by tZero on behalf of our token holders for 90 days following the issuance. Now that the three-month lock-up period has concluded, you must decide where to hold your security tokens.” The letter also noted that tZero investors should “look out for another tZero update regarding the commencement of security token trading,” as the time-frame for the live trading of the security token on its platform has not yet been clarified. The security token exchange had initially announced its trading platform prototype in April, with the aim to create a way to trade security tokens with such features as risk management software, order management system and matching engine. In early January of this year, tZero received a patent application for a crypto integration platform for trading digital assets, outlining a system that would be able to receive orders to trade securities, tokens, digital shares, cash equivalents and digital assets from broker-dealers and then translate the orders into crypto orders on a digital exchange. Related Articles: Ethereum Classic 51% Attackers Allegedly Returned $100,000 to Crypto Exchange Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock Trading Top 5 Crypto Performers Overview: Tron, Neo, Cardano, Binance Coin, Litecoin Bitcoin Falls Under $3,600 as Top Cryptocurrencies Report Moderate Losses || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 16/02/19: Bitcoin Cash ABC slipped by 0.59% on Friday. Following on from a 1.57% fall on Thursday, Bitcoin Cash ABC ended the day at $119.77.
Bitcoin Cash ABC rallied to an early afternoon intraday high $123 before hitting reverse. The rally saw Bitcoin Cash ABC break through the first major resistance level at $122.01, whilst coming up short of the second major resistance level at $123.92.
The reversal saw Bitcoin Cash ABC fall to an intraday low $119.5 before finding support to move through to $121 levels only to fall back to $119 levels by the day’s end.
At the time of writing, Bitcoin Cash ABC was up by 0.82% to $120.75. Moves in the early hours saw Bitcoin Cash ABC rise from a start of a day morning low $119.77 to a morning high $120.75. The day’s major support and resistance levels were left untested early on.
For the day ahead, a hold onto current levels would support a breakthrough to $121 levels to bring the first major resistance level at $122.01 into play. A broad-based crypto rally could see Bitcoin Cash ABC move through to $123 levels before any pullback.
Failure to hold onto current levels could see Bitcoin Cash ABC slide through the morning low $119.77 to bring Friday’s low $119.5 into play before any recovery. Barring a broad-based crypto sell-off, we would expect Bitcoin Cash ABC to steer clear of the first major support level at $118.51 on the day.
Litecoin gained 2.78% on Friday. Reversing a 0.68% loss from Thursday, Litecoin ended the day at $42.08.
A bullish morning saw Litecoin rise to a morning high $42.5, breaking through the first major resistance level at $42.08. An early afternoon spike saw Litecoin strike an intraday high $44.2 before pulling back. The spike saw Litecoin break through the second major resistance level at $43.23.
A mid-afternoon intraday low $40.81 saw Litecoin steer clear of the first major support level at $39.69 before moving back through to $42 levels.
At the time of writing, Litecoin was up by 1% to $42.50. Moves through the early morning saw Litecoin move from a morning low $41.92 to a morning high $42.60 before easing back. The day’s major support and resistance levels were left untested early on.
For the day ahead, a hold above $42.40 levels through the morning would support another run at $43 levels to bring the first major resistance level at $43.92 into play. A broad-based crypto-rally would bring $45 levels into play before any pullback. We would expect Litecoin to fall short of the second major resistance level at $45.75 on the day.
Failure to hold above $42.40 levels could see Litecoin pullback through the morning low $41.92 to bring $40 levels into play before any recovery. We would expect Litecoin to steer clear of the day’s first major support level at $40.53, barring a broad-based crypto sell-off in the day.
Ripple’s XRP rose by 0.16% on Friday. Following a 0.85% decline on Thursday, Ripple’s XRP ended the day at $0.3069.
Tracking the broader market through the morning, Ripple’s XRP rose to an early afternoon intraday high $0.31292 before hitting reverse. Ripple’s XRP managed to break through the first major resistance level at $0.3102, to come within range of the second major resistance level at $0.3140 before the pullback.
The reversal saw Ripple’s XRP fall to a mid-afternoon intraday low $0.30338 to call on support at the first major support level at $0.3040 before moving back to $0.3050 levels. In a late recovery, Ripple’s XRP moved back to $0.3060 levels to end the day in the green.
At the time of writing, Ripple’s XRP was up by 0.13% to $0.30730. Early moves saw Ripple’s XRP fall from a morning high $0.30778 to a morning low $0.30537 before recovering. The day’s major support levels were left untested early on.
For the day ahead, a move back through the morning high $0.30778 would support another run $0.31 levels and the first major resistance level at $0.31321 before any pullback. Barring a broad-based crypto rally, we would expect Ripple’s XRP to come up short of the second major resistance level at $0.3173 and $0.32 levels on the day.
Failure to move back through the morning high could see Ripple’s XRP hit reverse later in the day. A pullback through the morning low $0.30537 could bring the first major support level at $0.3025 into play before any recovery.
We would expect Ripple’s XRP to continue to steer clear of sub-$0.30 levels in the event of a pullback.
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Thisarticlewas originally posted on FX Empire
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• Silver Price Forecast – Silver gap higher on Friday || Bitcoin Falls; Japan Says No to Crypto ETFs: Investing.com - Cryptocurrency prices slumped on Monday, as Japans watchdog said it had no plans to approve crypto exchange-traded funds. The news is the latest knock-back for crypto assets from global regulators, who have been reluctant to make it easier for investors to access them because of worries that it is too easy to manipulate cryptocurrencies. Bitcoin fell 2.3% to $3,518.90 on the Investing.com Index, as of 8:36 AM ET (13:36 GMT). Cryptocurrencies overall were lower, with the total coin market capitalization at $118 billion at the time of writing, compared to $122 billion on Sunday. Ethereum,or Ether, slumped 6.1% to $116.31 and Litecoin was at $30.18 down 5.6%, while XRP slipped 3.6% to $0.31728. Japans Financial Services Agency said on Monday that it was not considering approving ETFs. Last week, a report from Bloomberg had cited a person familiar with the FSA as saying the regulator might approve such listings. There is no such fact that we are considering approving ETFs which track crypto-assets at present
we are not currently considering approving them, an FSA spokesperson said to news outlet Bitcoin.com. The agency has also said it has no plans to authorize the listing of Bitcoin futures on Japan's financial markets. The U.S. Securities and Exchanges Commission has repeatedly rejected applications for crypto-based ETFs over the last year, but that still hasn't killed speculation that it could change its mind in future. The SEC is still reviewing a number of applications from companies. In other news, Denmarks tax agency is now able to collect information on digital currency trades from exchanges, including names, addresses and personal tax numbers. The move is to ensure that citizens have paid taxes, the regulator wrote on its website, according to Bloomberg. Without going too far, I think one can say that this is a big market that we need to look at more closely, Karin Bergen, a director at the agency, said in a statement. Story continues Related Articles BitPay Says It Processed Over $1 Billion in Crypto Payments Last Year Cryptos Fall as Ethereum Delays Spark Security Concerns UPS Unveils Equity Investment and Partnership With Blockchain B2B Firm Inxeption
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Nears $3,750 as Top Cryptos See Moderate Gains http://bit.ly/2HldHZf || Do you want to accept crypto in your store? XWallet gives merchants the power to easily accept crypto payments instantly. Download to register as a Pundi X merchant and get a $2 worth of Bitcoin bonus! https://m.pundix.com/merchantEntry.html?inviteCode=61ST&navigator=lang … || Great article
#innovation #blockchain #bitcoin #fintech #finance #cryptocurrency #startups #inspirationhttps://lnkd.in/es65uZ8 || Luno Bitcoin wallet + Investment
Luno (company) bitcoin exchange, bitcoin wallet service and bitcoin API. Luno facilitates bitcoin storage and transactio
https://t.me/lunobitcoinwallet … || 1 BTC Price: Bitstamp 3577.00 USD Coinbase USD #btc #bitcoin 2019-01-24 14:30 pic.twitter.com/EmQaBwACH3 || Wake up !$GIFX 2019 Finance Division loan brokerage targets to $75 BILLION !!! in loans
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_/¯ ¯\_loading $GIFX $ $XRP $SPY $BTC #cannabis $GE $C $BAC #crypto $AAPL $TWTR $ATT #nasdaq #stockstowatch #HedgeFundhttps://investorshub.advfn.com/boards/read_msg.aspx?message_id=145340084 … || Binance Declines to Confirm Locations for Reported Crypto-Fiat Exchange - กัญชา - Major crypto exchange Binance plans to expand to eight new countries in 2019, according to a ...
- https://cbdandcrypto.com/binance-declines-to-confirm-locations-for-reported-crypto-fiat-exchange/ …
#CBD #Bitcoin #Farm #BTC #Hemp #Thailand #กัญชา #หาเงิน #麻 #конопля || 2019/02/15 20:00
BTC 395110円
ETH 13378.5円
ETC 449.9円
BCH 13325.1円
XRP 33.1円
XEM 4.5円
LSK 124.8円
MONA 55.3円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || Bitfury Brings Lightning Network Payments To The First Bitcoin Exchange http://bit.ly/2DgMsLC || Actually could happen within next 12-18 months.
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Trend: up || Prices: 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
As bitcoin's price plunges, skeptics say the cryptocurrency has no value. Here's one argument for why they're wrong: Bitcoin's price has been on a wild ride since its inception. 2017 alone saw massive gains, starting the year at under $1,000 and, at its peak, breaking $19,000, according to industry site CoinDesk. On Tuesday, it was trading at $11,943, a decline of 12 percent, according to CoinDesk. As bitcoin's popularity surges and its price rises and falls, more and more people are asking the same question: How does bitcoin (Exchange: BTC=), something that's essentially invisible and intangible, have value? Scarcity and utility In economics, something has value if it checks the following two boxes: scarcity and utility. Scarcity just means that something has a finite supply. In the case of bitcoin, the cryptocurrency has a set cap of 21 million bitcoins. Many analysts note that this set cap makes bitcoin more desirable than other assets, even gold. That's because unlike with gold, there's no need to worry about a digital Gold Rush. A treasure trove of bitcoin won't ever be "discovered," causing the crypto's price to crash with an influx in supply. "There are potentially millions of times more gold underground than actually has been extracted," said Tom Lee, head of research at Fundstrat Global Advisors. Lee was chief equity strategist at J.P. Morgan before co-founding Fundstrat in 2014. Ben Yu, a blockchain expert living in San Francisco, says technological advances are also making gold easier to mine. "Today we mine gold at four times the rate that we did just 100 years ago," Yu said. So if bitcoin has scarcity, what about its utility? Many believe the cryptocurrency's utility lies in its potential to be a more efficient commodity than we already have. Proponents of bitcoin like it for a number of reasons. First, bitcoin is decentralized, meaning no government, bank or single person has control over it; it can't be toppled by corruption at the top. It's also trivially divisible, meaning you can buy a small item like a doughnut with it as easily as you can buy a house or even a mansion. And finally, the code it's built on is open source, meaning that it's available for anyone to look at, scrutinize and even modify. This means bitcoin is constantly evolving and improving. None of those uses is intrinsic, however. And that's a point bitcoin skeptics often make. Gold, for example, is thought to have intrinsic value because of its applications in industries like dentistry and electronics. Some people even argue that dollar bills have intrinsic value, since they can be used as kindling or to write on. But as you break down either of those claims, it becomes clear that gold and paper money don't have that much intrinsic value either. According to the World Gold Council, in 2016, only 15 percent of gold was used in industries. The majority went toward making jewelry and gold bars and coins — items that have value mainly because they're trusted to be valuable. With paper money, the Federal Reserve says it costs about 16 cents to create a $100 bill. So the rest of that hundred bucks — the remaining $99.84 — comes from the trust people place in it. It can be hard to see the digital currency as having value because you can't hold it in your hand like you can a dollar bill or gold. As a solution, Lee said to think of bitcoin as a digital business. "If you ask a baby boomer, 'Can you justify the value of anything that's a digital business?' they probably don't accept that Facebook, Google, Netflix, Amazon, Apple, these are the largest companies in the S&P 500 and they're primarily digital businesses built almost purely on digital trust," said Lee. "Anyone who thinks digital gold isn't a store value is overlooking the fact that most businesses today are built around digital trust, including the financial system." Valuing the cryptocurrency It's clear that some people believe bitcoin has value. And if it has value, it's hard not to wonder how much a single bitcoin could end up being worth. There are two main theories being used to calculate the potential value of one bitcoin. The first theorizes that bitcoin, which some perceive to be a better asset than gold, could end up replacing either a portion of gold or gold entirely. If it were to replace gold entirely, one bitcoin could be worth $357,000. That's calculated by taking the total value of all the gold ever mined in the world, which is about $7.5 trillion, and dividing that number by 21 million — the total bitcoins that can ever exist. Lee told CNBC it's more realistic to assume bitcoin will replace 5 percent of gold within five years, making a single coin worth $25,000. Another theory of Lee's is based on Metcalfe's law, which says that the value of a network is proportional to the square of the number of users on the network. For example, one phone is useless because you can't call anyone else with it. But the value increases exponentially as other people get phones. Studies have shown that Metcalfe's law holds true for Facebook using 10 years of data. It also holds true for Tencent, China's largest social media company. Fundstrat looked at users on the bitcoin network and found that the square of this value explained 94 percent of the variation in bitcoin prices since 2014. Many people think that bitcoin is a bubble, and that's predicted on the concept that bitcoin has no value. But there's reason to believe that that just isn't true. By definition, bitcoin is scarce. And the cryptocurrency may have utility as a superior way to store and exchange wealth.
WATCH: Bitcoin's creator may be worth $14 billionMore From CNBC
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• Cryptocurrencies plunge amid regulatory fears || Bitcoin cash falls after losing its title of 3rd most valuable crypto: bitcoin mining supercomputers Marko Ahtisaari/Flickr Ripple's XRP overtook bitcoin cash to become the third most valuable cryptocurrency on Thursday. Bitcoin cash is falling on Friday after dropping a spot on the most valuable cryptocurrencies list. Ripple also fell slightly on Friday. Check out the live price of the top cryptocurrencies here. Bitcoin cash is down 9.83% in the 24 hours after losing its spot as the third most valuable cryptocurrency by market cap. On Thursday, Ripple's XRP currency jumped about 78% to a market cap of $320.29 billion, overtaking bitcoin cash as the third largest digital currency. XRP is trading down 6.69% on Friday, according to data from Markets Insider. Bitcoin cash was created earlier this year when it split from bitcoin. Some bitcoin miners were unhappy with the direction of the cryptocurrency and decided to clone bitcoin's payments history and begin going in their own direction. Since the split, bitcoin cash has struggled to keep pace with its namesake, but is still up 534%. Bitcoin and ethereum hold the top two spots in terms of cryptocurrency market cap, with the former's commanding more than $300 billion, according to CoinMarketCap.com . There are currently 24 cryptos with a market cap larger than $1 billion. Bitcoin cash is up 48.97% over the past seven days, currently trading at $1,763 a coin. Read more about bitcoin futures here. bitcoin cash price Markets Insider NOW WATCH: This is why you should be buying gold See Also: Here's why Boeing 747s have a giant hump in the front Portugal hints at what the American internet could eventually look like without net neutrality 19 crazy facts about Bill Gates' $125 million mansion SEE ALSO: Bitcoin pops to new all-time high || 2 Stocks to Avoid (and 1 to Buy): There's a lot of upheaval taking place in the energy industry, making it a treacherous place for investors. Stocks that were once great value dividends, likeExxonMobil(NYSE: XOM), are being forced to take out debt to keep dividend payments where they are. Even utilities are being altered by electric vehicles and alternative energy.
With all of this disruption in mind, I think investors should avoid risky stocks likeTesla(NASDAQ: TSLA)and ExxonMobil and look at steady energy stocks likeNextEraEnergy Partners(NYSE: NEP)instead.
Image source: Tesla.
There's no question Tesla, which is planning to ship 100,000 vehicles this year before ramping to 500,000 or more in coming years, has led the EV revolution. Investors have rewarded the company with a market cap of $55 billion and nearly unlimited funding. But it's burning cash like crazy, and competitors are coming for its position as an EV leader.
TSLA free cash flow (TTM)data byYCharts.
The Model 3 may have gotten most of the attention in 2017, butGeneral Motors(NYSE: GM)was the first to launch an affordable EV with long range in the Chevy Bolt and will sell nearly as many Bolts as Tesla sells Model Ss in the U.S. this year. Next year, BMW, VW, GM, and more will launch more EVs and launch competition for Tesla.
Tesla hasn't proven that it can profitably build and sell EVs on a mass scale, andthat's what should concern investors. And with so many competitors eyeing its business, this is a stock I would avoid in 2018.
Another company that carries more risk than it seems is ExxonMobil. Of course, there's the threat of EVseating away at oil demand, and that's a reason I would avoid the stock over the long term. But take a look at the chart below to show how poorly the company is performing even under favorable demand conditions.
XOM net income (TTM)data byYCharts.
You can see that over the last decade net income has plunged, debt has soared, and the dividend payout has been higher than what the company earns from operations for most of the past year. Layer on top of that the threat coming from EVs and ExxonMobil is a company with a very murky future.
Investors looking for some stability in energy should look no further than renewable energy yieldcos. The company owns 3.7 GW of wind and solar assets with an average contract life of 18 years remaining, ensuring high-quality cash flow to pay dividends for nearly a decade.
The current dividend yield of 3.7% for NextEra Energy Partners isn't all that impressive, but it has visibility to growing the dividend by 12% to 15% for at least the next five years through a combination of dropdowns fromNextEra Energyor the acquisition of third-party projects. The low dividend could even allow for purchases using the stock as a source of funding, assuming the rate of return for projects would exceed the cost of the dividend.
Given the upheaval taking place in other parts of the energy industry, a 3.7% dividend yield with growth that's backed by long-term contracted cash flows is a great buy for investors.
As a top pick, I've made a thumbs-up call on NextEra Energy Partners onmy CAPS page, betting the stock will beat the market. It's one of the few energy stocks I would put my money on today.
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Travis Hoiumowns shares of NextEra Energy Partners. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. || CRISPR Gene-Editing Stocks Going Down the Tubes? Think Again: To paraphrase Mark Twain, the reports of the deaths of CRISPR gene-editing stocks are greatly exaggerated.
The biotech world was abuzz a little over a week ago with news that the human immune system has built-in defense systems against the Cas9 enzyme used in the CRISPR-Cas9 approach to gene editing. The CRISPR-Cas9 method has revolutionized gene editing with its convenience and speed. Several biotechs are using the technique to develop therapies for treating genetic diseases, especiallyCRISPR Therapeutics(NASDAQ: CRSP),Editas Medicine(NASDAQ: EDIT), andIntellia Therapeutics(NASDAQ: NTLA).
With the possibility that CRISPR-Cas9 could prove ineffective in humans, there was talk that the stocks of these biotechs that focus on the gene-editing approachcould turn out to be worthless. But the cart got before the horse -- by a few miles.
Image source: Getty Images.
All the commotion initially stemmed froma paper posted on bioRxiv(pronounced "bio-archive"), a website that provides access to preprint versions of biology papers. The papers on bioRxiv aren't peer-reviewed, so they aren't at a stage yet to be published by a scientific journal.
The researchers who posted the paper knew that the two most widely used Cas9 enzymes come from Staphylococcus aureus (S. aureus) and Streptococcus pyogenes (S. pyogenes) bacteria. They also knew that humans have been infected by these particular bacterial species for a long time. Their thought was that many people could have immune responses to Cas9, which could interfere with use of CRISPR-Cas9 in humans.
As it turned out, the researchers were right. The team obtained blood samples from 12 adults and 22 newborn babies. Out of this sample population, 79% had antibodies for the S. aureus Cas9 and 65% had antibodies for the S. pyogenes Cas9. Did that spell the end of the road for CRISPR-Cas9 in humans? Not at all.
The paper itself noted that the potential immune response to Cas9 "must be taken into account as the CRISPR-Cas9 system moves forward into clinical trials." Even after their findings, the research team assumed that CRISPR-Cas9 would still be tested in humans.
One of the lead authors of the paper, Stanford University's Matthew Porteus, is also one of the scientific founders of CRISPR Therapeutics. Inan interview with Gizmodo, Porteus said, "This isn't a roadblock. I think it's a bump."
Some of the reaction wasn't much ado about nothing, but it was too much ado for sure. It's not known, for example, if the immune responses would even interfere with the CRISPR-Cas9 editing of genes. Even if it did, there are several ways around the potential problem of immune response to Cas9.
One is to develop Cas9 from bacteria that don't infect humans. Another is to slightly modify Cas9 so that the human body's immune system won't immediately attack the enzomes. CRISPR Therapeutics, Editas, and Intellia are all working on therapies that edit cells outside of the body, which means the immune responses wouldn't be an issue.
Warren Buffett's mentor, Benjamin Graham, wrote about the fictional Mr. Market. Graham used Mr. Market as an allegorical description of how the stock market acts. Sometimes it's rational, and at other times, it's emotional and irrational. After the release of the paper about potential issues for CRISPR-Cas9, Mr. Market at first was emotional, but I think he quickly became Dr. Market, genetic scientist.
Here's what I mean. Take a look at how the key biotech stocks involved in CRISPR-Cas9 research performed in the aftermath of the posting of the scientific paper on Jan. 5. I have also included on the chart another biotech,Sangamo Therapeutics(NASDAQ: SGMO), that uses a different approach to gene editing called zinc finger nuclease (ZFN) technology.
CRSPdata byYCharts.
What do you think would have happened on Jan. 5 and the following days if the scientific paper had really implied that CRISPR-Cas9 gene-editing stocks could be worthless? You can bet the stock prices of CRISPR Therapeutics, Editas, and Intellia would have plunged a lot more than the 12% or so drop that Intellia experienced. You would also have expected Sangamo stock to shoot up, since it's the farthest along with an alternative approach to CRISPR-Cas9.
But that's not what happened. Actually, all of these gene-editing stocks fell, including Sangamo, with Intellia and Editas dropping the most. However, it didn't take very long for all of them to rebound. CRISPR Therapeutics, a company whose name gives away its focus, not only regained its initial losses but added more gains in the following days.
In my view, Mr. Market became the genetic scientist Dr. Market. And Dr. Market realized that the latest scientific news was, as Matthew Porteus said, just a bump and not a roadblock. There could be some delays in beginning clinical trials, but that's certainly not a reason for the stocks to collapse. And they didn't.
I have stated in the past that gene editing is a technology thatcould make investors rich and change the world. I don't think that's an exaggeration.
As for making investors rich, just imagine if a biotech uses gene editing to cure cystic fibrosis, genetic blindness, or sickle cell disease. How much would a company be worth if it were able to achieve such a tremendous feat? I can guarantee you it would much more than the $775 million to $1.5 billion these biotech stocks are valued at now.
And what if gene editing could be used to completely eliminate these and other genetic diseases? It's no stretch to say that would change the world, at least for many.
Yes, there will be bumps along the way. There always are with promising new technologies. But CRISPR-Cas9 is alive and well -- as are the stocks of the biotechs pioneering the gene-editing approach.
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Keith Speightsowns shares of Editas Medicine. The Motley Fool recommends Editas Medicine. The Motley Fool has adisclosure policy. || Helmerich & Payne Didn't Quite Turn in a Profitable Quarter, but Wall Street Likes the Progress: There was a chance that Helmerich & Payne (NYSE: HP) could be profitable this past quarter, but it missed it by that much. That said, the company's net loss adjusted for a one-time tax gain was much better than Wall Street's expectations. Still, the company's results have been slow to recover despite the rapid rise in oil prices over the past year or so. That has been deliberate as management is preparing the company for the new demands of producers looking to squeeze every barrel of oil possible out of each new shale well. Let's drill down into Helmerich & Payne's most recent quarter to see why the company's profits continue to improve so slowly, and what investors can expect in 2018 based on management's plans for the year. By the numbers Metric Q1 2018 Q4 2017 Q1 2017 Revenue $564.1 million $532.3 million $368.6 million Operating income $3.5 million ($29.6 million) ($49.2 million) EPS (diluted) $4.55 ($0.21) ($35.1 million) Free cash flow ($58.5 million) $24.1 million ($6.5 million) Source: Helmerich & Payne earnings release. EPS= earnings per share. So here's the good thing, Helmerich & Payne's revenue has increased, and per rig costs have declined enough such that the company is posting positive operating income results, albeit a small one. While all three of the company's business segments chipped in, it's the company's U.S. land drilling business that matters. It put a total of 204 rigs into the field this past quarter, which was a slower pace than in prior quarters. That slower reactivation pace helped immensely, though, as it reduced operating expenses related to reactivating rigs. On top of the positive operating income result, Helmerich & Payne also benefited from the changes to the tax code, which resulted in a one time, non-cash benefit of $500 million. If we were to pull out this tax gain, earnings for the quarter would have been a per-share loss of $0.02. Story continues The thing that may have some investors a little concerned is the company's continued free cash flow burn. One thing to keep in mind, though, is that the company spent $47 million on one time acquisitions for a couple technology companies that should help separate its offering to producers from the rest of its peers. Also, management has decided to increase its capital spending rate in 2018 to upgrade more of its available rigs to what it calls super-spec. These super-spec rigs have more powerful equipment on them to handle longer and longer wells as well as adding walking capability to each rig such that it can quickly move from one well to the next without assembling and disassembling the rig. Management estimates it will spend $350 million for fiscal year 2018 compared to its initial estimate of $250 million to $300 million. Fortunately, Helmerich & Payne still has enough cash on hand to cover its spending habits as well as pay its generous dividend. The company ended the quarter with $425 million in cash and short-term investments compared to $493 million in debt outstanding. So there is plenty of cash and borrowing capacity to cover expenses for the year. Drilling rig in snow covered field. Image source: Getty Images. What management had to say The recovery in the active rig count across the United States had many on Wall Street excited about the prospects of rig companies headed into 2017. What they may not have assumed, though, was that re-activating all those rigs would cost a lot of money and that the uptick in rigs is still well below the peak we saw in 2014. Helmerich & Payne's earnings results have been a little discouraging, but CEO John Lindsay thinks that the company is making the right move to spend lots of money now on upgrading its fleet and adding new tech to its rigs. Here's what he said in the company's press release that explains the company's rationale. One of the primary factors driving rig pricing is the continued demand for high capacity super-spec rigs and the near full utilization of that portion of the U.S. fleet. A significant driver for super-spec rig demand last year was an average 15% increase in the length of laterals, and we expect this trend to continue. H&P has over 40% of the active super-spec rigs and with that portion of the industry fleet fully utilized, we believe pricing should continue to improve. We also have a significant advantage for future growth as we have roughly half of the 200 to 250 upgradeable rigs available in the U.S. market today that could be readily upgraded to super-spec capacity. We are well equipped for the industry's digital evolution. With our acquisitions of Motive Drilling Technologies and MagVAR we can provide additional value for our customers through improved wellbore quality and placement. Both companies are technology leaders in their respective space and the demand for their offerings is increasing as the importance of wellbore accuracy grows with longer laterals and tighter well spacing. HP Chart HP data by YCharts What a Fool believes With the largest fleet of super-spec rigs and the capacity to upgrade a large portion of its idle fleet to meet those specifications, Helmerich & Payne is in a position to take a lot of market share. It has already gained 5% of the land drilling market since oil prices started to crash and a 40% control of the super-spec market means it is heads and shoulders above the rest. To capture this opportunity, though, the company is going to have to spend money. That likely means another year of elevated costs and capital expenditures. For investors that are willing to wade through another year of less-than-great earnings results, Helmerich & Payne's future market opportunity could be worth it in the long run. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Armed robbers steal $1.8 million worth of cryptocurrency: The Manhattan District Attorney has charged a man with robbery and kidnapping after he swiped a digital wallet containing a fortune in ethereum cryptocurrency. Louis Meza and an associate allegedly held up the victim at gunpoint after luring him into a vehicle, then stole his keys, wallet and cellphone. Meza used the keys to enter the victim's apartment and make off with his digital wallet. Shortly afterwards, he transferred $1.8 million in "ether" cryptocurrency to his own wallet. According to the DA's press release, Meza knew the victim and knew he had a large amount of ethereum. After meeting the victim on the evening of November 4th, "Meza insisted on ordering a car service for the victim, who entered a minivan after parting ways with Meza," the DA stated. The perpetrator was also charged with computer tampering, criminal possession of stolen property, and computer trespass. The DA notes that the crime is a vivid illustration that hacking isn't the only way crooks can get their hands on your Bitcoins and other crypto-cash. "This case demonstrates the increasingly common intersection between cyber and violent crime," said NY County District Attorney Cyrus Vance. "We can expect this type of crime to become increasingly common as cryptocurrency values surge upward." || Apple should replace old batteries instead of slowing down aging phones: For years I told people they were crazy for thinking that Apple (NASDAQ: AAPL) was purposely slowing down older iPhones in an effort to force customers to upgrade to a new device. It turns out I was wrong. Apple admitted on Wednesday that it cuts the processing power of older iPhones with aging batteries in an effort to keep them running as smoothly as possible . In other words, the processors on some phones, including the iPhone 6, iPhone 6s and even the iPhone 7, aren't always running at full power as they age. That helps explain why running apps and switching apps can feel much slower than they once did. Apple has a reason for this, but it's the wrong approach. Rather than intentionally slowing devices to keep them from shutting down (as the company explained to TechCrunch in a story on Wednesday), it should do right by its customers who expect their pricey iPhones to last more than a couple of years. Last year Apple had to respond to widespread issues with the iPhone 6s battery. Owners of that device started to report that it would shut down at random times, even if the battery wasn't completely depleted. To mitigate this issue and similar ones, particularly when batteries get old and begin to drain more quickly, Apple has started to algorithmically alter how the phone uses power. The phone feels slower because it actually is slower. Apple says this improves safety. Here's what Apple told CNBC on Wednesday: "Lithium-ion batteries become less capable of supplying peak current demands when in cold conditions, have a low battery charge or as they age over time, which can result in the device unexpectedly shutting down to protect its electronic components." But here's another idea. If Apple is going to drop the performance of a smartphone because of poor battery life, it should replace an iPhone's battery at no charge. Sure it's an expensive undertaking for Apple, but a user should be guaranteed a certain level of performance for the lifetime of a product, until Apple stops supporting it with new software. Apple did this for customers who were hurt by the iPhone 6 battery problems. Consumers will otherwise be encouraged to download new versions of iOS that will only require more processing power, which will slow things down. They'll then see a further deterioration in performance when Apple throttles the processor. Apple is putting its reputation for great customer service and support at risk. One free battery upgrade would help preserve that goodwill.More From CNBC
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• Tom Lee, who called bitcoin's rally, says it is a 'real asset class' || What to Know About and How to Buy Tron, the Latest Surging Cryptocurrency: Another day, another upstart cryptocurrency on the rise. After huge weeks for bitcoin alternatives like Ripple , Stellar , and Ethereum , the latest to see a big spike is Tron — and its connection to China’s most powerful tech entrepreneur could make it the most intriguing challenger to bitcoin’s throne we’ve yet seen. Like Ripple , Tron and its tronix coin have experienced a meteoric rise since the middle of December. As recently as last month, the coin’s value was less than a penny, but it reached highs Friday of about 26 cents. That surge was enough to make it briefly the sixth biggest cryptocurrency in the world, and its current $14.1 billion market cap makes it the seventh biggest as of this writing. But what exactly is Tron, where did it come from, and how is it possible for those interested in it to purchase some? Let’s break down all you need to know about the latest player in the ever-changing crypto world. What Is Tron? Like other bitcoin alternatives, Tron was originally envisioned as a solution to a specific problem before it attracted the attention of investors eager for the next big cryptocurrency boom. In this case, its creators designed Tron as a blockchain -based ecosystem for digital content. What this basically means is that digital media creators who use Tron have total control and ownership of the data they create, including how it is distributed to their audiences. This cuts out intermediaries like Google Play and the Apple Store, eliminating the fees those companies charge creators to have their material available there. TRX is the coin used for exchanges in this digital ecosystem. As with other cryptocurrencies, TRX eases international transactions. This can be particularly important for digital content creators who can find themselves shut out of a country entirely if they are not able to transact in the local currency. How Did Tron Get Started? The cryptocurrency is the brainchild of Justin Sun, a 26-year-old tech entrepreneur based in Beijing. His Twitter bio notes he was the only millennial to attend Hupan University, an elite entrepreneur leadership program in China founded by billionaire business magnate Jack Ma. Story continues Alibaba Group founder Jack Ma The founder and executive chairman of the tech conglomerate Alibaba Group, Ma is one of the most influential people in China and, by extension, the world. While Ma isn’t an explicit backer of Tron, Sun’s reputation as his protege makes the coin’s future intriguing. China cracked down on cryptocurrency trading and initial coin offerings in September, though bitcoin entrepreneur Bobby Lee told CNBC this week he expects the ban to be lifted in the near future. While the country’s relationship with cryptocurrency remains murky, Tron’s connection to Ma — and, by extension, the government in Beijing — could put it in an intriguing position globally if China ultimately decides to back a particular coin. How to Buy TRX Coins Like other upstart coins such as Ripple and Stellar, Tron is not available on Coinbase, the most popular exchange. That doesn’t figure to change anytime soon given the site’s announcement Friday that it has no plans to add new altcoins to the exchange. About 90 percent of all TRX trading happens on the Binance exchange, but the site announced Thursday it is temporarily suspending registrations because of the overwhelming influx of new users. So if a person isn’t already on Binance, they are out of luck. Of what’s left, there aren’t a ton of good options. Bit-Z, Liqui, and Gatecoin are the next three biggest TRX exchanges, though “biggest” is relative when none handles more than five percent of trading. All three have mixed to negative reviews from users, citing delays in cash-outs and unusually high transaction fees. The best bet may be to wait until Binance begins taking registrations again, or to see whether another major exchange adds TRX to its offerings. Photos via Flickr / UNCTAD , Tron Foundation Photos via Flickr / UNCTAD , Tron Foundation Written by Alasdair Wilkins More articles by Alasdair • Follow Alasdair on Twitter tweet share More From Inverse Why the Price of Ripple is So Much Less than Bitcoin If Ripple Price Keeps Surging, Founder Will Become World's Richest Person Ripple vs. Bitcoin: The 5 Biggest Differences Between the Cryptocurrencies How Ripple Works and Why It's Surging 6 Futuristic Projects That Every City Should Adopt || Stitch Fix Stock Passes Its First Test -- What's Next for Investors?: Investors briefly punished Stitch Fix (NASDAQ: SFIX) shares after the company unveiled its first public earnings report. The stock declined 10% only to recover before the extended holiday weekend. By all standard measurements, this was a solid report for the subscription box specialist. Let's look at the quarter and the key levers to a bright future for the company. What made the headlines Revenue increased 25.2% to $295.6 million, just edging past analyst estimates, while active customers jumped 29.7% to 2.4 million. Moving down the income statement, gross margin compressed 290 basis points to 43.7%. That would normally be a concerning development, but management explained that the decline was largely due to planned investments in new categories, primarily men's and plus, which have narrower margins than its core women's segment, as the purchases are smaller. The company is also working to build out those businesses, which should raise margins over time as they reach scale. Investments in tech talent and advertising increased with adjusted net income shrinking to $4.4 million, but earnings per share of $0.05 still topped estimates by a penny. Looking ahead, the company sees solid revenue growth for the year with $1.17 to $1.22 billion of revenue, or 20% to 25% growth. But weaker than expected EBITDA guidance resulted in a bearish initial reaction from the market. A Stitch Fix box sits on a doorstep against a yellow door. Image source: Stitch Fix. Making progress At this early juncture, investors should be looking for the company to hit its goals both financially and operationally. Customer count, which is a fundamental driver of the company's revenue, had its biggest jump in several quarters, which may be a reflection of the attention and free advertising the company got from its initial public offering. That's a promising sign for investors, and it should reassure them that Stitch Fix isn't likely to stumble like Blue Apron did shortly after its IPO. But the other fundamental drivers of the company's business -- its brand and customer satisfaction -- will be harder to measure. Stitch Fix has no publicly-traded peers, and brand perception is key for online retailers who don't have stores that customers can stumble upon. Based on the growing customer count, Stitch Fix seems to be succeeding on that measure. In its prospectus, the company acknowledged that customers tend to spend more in their first six months using the service than their second six months, and that they spend more in the first year than the second year. However, the company believes that decline is based on customers who were not satisfied with their first "Fix" or those who have been too satisfied in a sense, as they've sufficiently stocked up their wardrobes and no longer need new clothes in the short term. Story continues The company has also increased the average number of items that are purchased in each order, or Fix, in each of the last three years, indicating that customer satisfaction with item selection is improving. Big things ahead Ultimately, Stitch Fix is chasing a huge opportunity with a long tail ahead of it. The U.S. apparel, footwear, and accessories market was estimated to be worth $353 billion last year and is set to grow to $421 billion by 2021. Meanwhile, the company is riding two big trends in apparel. First, e-commerce in the apparel sector is surging as Euromonitor expects the segment to grow annually by 11.4% from 2016 to 2021 to $94 billion, and Amazon is set to become the biggest apparel seller in the country, topping Macy's . Second, personalization is becoming more popular, a differentiator that stands out from the traditional online shopping experience. Other companies like Nordstrom , Bonobos, and Warby Parker have tried to tap into this trend and enjoyed success with the model. If Stitch Fix can capture even 1% of the overall apparel market or 5% of the e-commerce market over the next 10 years, it would have $4 billion in sales, about four times last year's total, representing 25% annual growth over that time. However, whether it can deliver that growth will depend on the company's ability to retain customers and spread awareness of the brand. If successful, margins and profit will take care of themselves. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy . View comments || Bitcoin and Ethereum Price Forecast – BTC Continues Strongly, ETH Rockets Through $1000: The controlled nature of the moves in the bitcoin market are there for everyone to see. Ever since the introduction of the bitcoin futures around a month back, we have seen a large scale correction followed by some consolidation and now we are see some controlled uptrend, all signs of a mature market that is seeing the entry and playing of some large traders and investors. Ever since the futures were introduced, we had said that this was a seismic event in the growth of bitcoins and that it could change the way bitcoins are traded, forever. While it gave some additional credentials to the bitcoin industry, it also helped to draw in bigger players who would ensure that the market is kept under control.
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This is the reason why we are seeing the prices moving much slower than usual, which isnt small in any case, as we see more and more speculators vacate the space for the bigger traders and investors and move on to greener pastures in the form of altcoins which are likely to reward them with quicker and better returns. This is why we are seeing many of the altcoins do well as the BTC prices hover around the $16,000 range.
We have been saying for long that the year 2018 could well be the year of ethereum and so far, it has been doing well. As the focus shifts from the BTC market due to the regulatory and other issues, the ETH market seems to have become the main beneficiary as the prices have been shooting higher. We have been mentioning that the prices would crack $1000 by the end of the first week of January and that has been the case as the prices have shot through $1000 and now trade just below the $1200 region as of this writing.
Looking ahead to the rest of the day, expect some more consolidation with a bullish bias in the BTC market. On the other hand, expect the bullishness in the ETH market to continue as we see more and more traders and investors shift to this market in the hope of better returns.
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Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
1 BTC = $15154.44 / ₺66970.0 Via PlazaBeyfendisi || Tiffany Haddishちゃんが || Tiffany Haddishちゃんが || Vanavond om 20:00 het webinar "Beleggen in Bitcoin" bij @binck_nl en om 20:30 het webinar "de grote cryptoshow" bij @RTLZ. Alles over bitcoin, beleggen en cryptocurrencies. http://bit.ly/2p6hjp0 pic.twitter.com/x08shenUOc || Tiffany Haddishちゃんが || Tiffany Haddishちゃんが || $btc for sure || BTC 21:00 pic.twitter.com/Osojn2oSvx || BTC Average: 13120.29$
Bitfinex - 14049.00$
Poloniex - 14026.58$
Bitstamp - 14195.30$
Coinbase - 14249.00$
Binance - 13975.00$
CEXio - 15725.00$
Kraken - 14286.00$
Cryptopia - API problems
Bittrex - 13998.00$
GateCoin - 16699.00$
#BTC #Bitcoin #Exchanges #Price || More mainstream coverage #Bitcoin $BTC https://www.theguardian.com/technology/2017/dec/08/bitcoins-ends-dramatic-week-with-slump-recovery-currency …
|
Trend: up || Prices: 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-04-23]
BTC Price: 236.46, BTC RSI: 48.38
Gold Price: 1194.40, Gold RSI: 49.32
Oil Price: 57.74, Oil RSI: 65.40
[Random Sample of News (last 60 days)]
California's Water Crisis Draws Investors: As California struggles through a four-year drought that has left the state in dire need of both better water controls and a more efficient way to supply its residents, many investors are beginning to look for ways to capitalize on the growing demand for companies that can conserve and transport water.
Infrastructure
After Governor Jerry Brown declared astate of emergencyin January, the state began to focus its efforts on conservation and educating residents on ways to save the precious resource.
Related Link:California Drought Lesson: Do Not Take Water Supply For Granted
Since then, there has been a push in many communities to install water meters that measure the amount of water a particular residence is using. Companies that manufacture and install water meters, likeMueller Water Products, Inc.(NYSE:MWA) andBadger Meter, Inc.(NYSE:BMI), are likely to see a jump in sales as conservation takes priority.
Desalination
While the environmental effects and sky-high costs of desalination have kept California from investing heavily in making sea water drinkable, many believe the state will eventually resort to more reliance on plants that do just that.
For that reason, long-term investment in companies likeXylem Inc(NYSE:XYL), which manufacture the equipment needed for desalination, could be a smart play.
Energy
Some investors are thinking outside the box and looking to alternative energy companies as the drought forces California to rely less on hydropower.
Many see solar as a great alternative, especially in California where sunshine is plentiful. For that reason, investors are looking toSolarCity Corp(NASDAQ:SCTY), the state's largest rooftop solar panel installer.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Federal Agents Busted for Stealing Bitcoins, Extorting Silk Road Founder: Two former federal agents were charged Monday with stealing Bitcoin and laundering money while working at the center of last year’s massive investigation into the now-defunct Silk Road.
Justice Department officialsannounced the chargesagainst former DEA officer Carl Mark Force and former Secret Service agent Shaun Bridges. The two men allegedly used Bitcoin to launder money while they were in the middle of investigating the infamous online black market, which was shut down by the government last year.
Related: U.S. Probed Mt. Gox CEO as Possible Silk Road Mastermind
At the time, the government seized about $33 million worth of Bitcoin from the marketplace and charged its founder, Ross Ulbricht – or “Dread Pirate Roberts,” as he’s known on the web – with aiding drug trafficking. He was ultimately found guilty and awaits sentencing.
Carl Force was the main investigator tasked with communicating with Ulbricht. He allegedly used his position during the investigation to extort money from Ulbricht by using a number of Internet aliases.
In one instance, Force apparently demanded $250,000 from Ulbricht in exchange for withholding information from his colleagues at the DOJ.
The government charged him with wiring fraud, stealing government property and money laundering.
Related: Porn, Drugs, Hitmen, Hackers: This is the Deep Web
Separately, Bridges, the Secret Service agent, worked with Force and allegedly diverted more than $800,000 in Bitcoin to a personal account during the investigation. The complaint accuses the two former agents of texting back and forth about the fluctuating value of Bitcoin.
The two reportedly resigned from their positions abruptly before being arrested last week.
The charges against the agents come at an embarrassing time for both of their former agencies. Just last week a report from the DOJ’s inspector general accused agents at the Drug Enforcement Agency of having “sex parties” with prostitutes bought and paid for by drug cartels in Columbia.
The Secret Service has suffered a problem-plagued year with numerous security breaches as well as a prostitution scandal in 2010.
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• 6 Popular Social Security Myths Busted || Darkcoin Gets An Image Makeover: Digital currencies have earned a bad reputation over the past year as scams and illegal activities dominated the news coverage surrounding cryptocurrencies.
From the mysterious collapse of the Mt. Gox exchange to the Silk Road trial, consumers have become increasingly apprehensive about using digital currencies for fear of being scammed or associated with an illegal operation.
For that reason darkcoin has decided to rebrand itself as DASH in an effort to distance itself from the dark web.
Darkcoin is an altcoin, or alternative to bitcoin, that focuses on maintaining users' anonymity but was not deigned for use with the illegal activities taking place on the dark web.
The cryptocurrency's lead developer Evan Duffield decided to change the currency's name to DASH, short for digital cash, but says everything else will remain the same.
The dark web is a hidden part of the internet that has become a place for people to conduct illicit transactions.
Initially, the dark web was created to protect privacy as it can only be accessed through special software, but the anonymity it offers has made it a popular place to buy and sell illegal goods and services.
Related Link:Solving Bitcoin's Scalability Problem
Darkcoin has become a popular currency for users of the dark web as the cryptocurrency's privacy tools keep the transactions anonymous. However Duffield told theIBTimesthat it was never his intention to support those types of activities.
Instead, darkcoin was meant to be a currency capable of overcoming the flaws plaguing bitcoin. The transactions are instantaneous and there is no record, so it closely mimics using cash.
The cryptocurrency's developers are hoping that the name change will help the public accept DASH as a legitimate digital currency and allow it to expand.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || GKIC Superconference 2015 Invites Michael Taggart Of Adventure Marketing To Speak For The Second Time: BOISE, ID / ACCESSWIRE / February 24, 2015 /Adventure Marketing, a Boise, Idaho marketing firm, has announced that Michael Taggart will be speaking for theGKIC Super Conference 2015. Throughout the conference, he will be addressing Press Advantage; speaking once during the conference date and once during the bonus day.
Press Advantage, the subject to be touched upon byMichael Taggart, is a press release distribution website. With Press Advantage, consumers, entrepreneurs, and business owners can enjoy integrated SEO with more than two hundred PageRank passed public relation domains that rank on their own, no matter the level of keyword in use. Users also gain access to a professional team of U.S. based writers, and with different subscription packages to choose from, set and forget scheduling is possible.
Michael Taggart, also known by the name of Michael X, has been in the SEO industry for more than thirteen years, building his first site when he was only twenty-two years of age. He began in 1999, and has been recognized for his contribution to many prestigious online marketing careers as a coach, and through coaching programs. Michael is the CEO of Adventure Marketing LLC, and works alongside a staff of dedicated employees through this Boise, Idaho-based firm. Michael is also CEO of Rock Steady, Inc. and is trained in local and international businesses, and this has helped hone his online marketing strategies throughout his career.
Adventure Marketing began in 2010 as a simple idea which has blossomed into a multi-million dollar company with an advanced global client base. This has made Michael into one of the most renowned marketers in the world, especially in terms of local search marketing and mobile SEO. His interests include Bitcoin and crypto assets, giving him a reputation for technologically advanced knowledge, and the title of "the coolest marketer in America."
Throughout the GKIC Super Conference, Michael will explore the subject ofPress Advantage, along with other important facets of his marketing expertise. His past experience with on stage conferences and marketing events gives him an edge over competitors, and has made him one of the best in his industry. His take on training is known to be highly unique, as is his approach to consumers in general.
With his added contribution and intriguing subject matter, those who will be in attendance at the GKIC Super Conference 2015 have shown interest and excitement over the prospect of learning more about Press Advantage and the other information Michael X will be sharing. Along with the many other contributors to the conference, it seems that guests will be receiving much of the knowledge necessary to be successful in e-commerce and online marketing. More information regarding Michael, the conference and Press Advantage can be viewed online.
For questions and concerns regarding this press release or for more information on Adventure Marketing please use the following contact information to get in touch:
Company Name: Adventure MarketingContact: Michael TaggartPhone Number: 1 (208)-908-0626E-mail Address:[email protected] Address: 5430 Misty Ridge Way, Boise, ID 83713
SOURCE:Adventure Marketing || Professional Bitcoin Trading Tool Coinigy Receives $100,000 in Seed Funding, Aims to Build Universal Bitcoin Exchange API: Milwaukee, WI, Professional Bitcoin Trading Platform Coinigy has Received $100,000 in Seed Funding; Coinigy Already Allows Users to Trade Bitcoin and Other Cryptocurrencies on up to 24 Exchanges Simultaneously and is Developing a Universal Exchange API Allowing for Real-Time Data, Trading and Analysis Across all Markets
MILWAUKEE, WI / ACCESSWIRE / March 17, 2015 /Wisconsin-based Bitcoin exchange hubCoinigy is pleased to announce a total of $100,000 in seed funding. The funds will be used to improve a multitude of existing professional Bitcoin trading services as well as supporting development of a new universal exchange API. Users can already access a total of 24 Bitcoin exchanges through one interface and a large number of key functions such as trading and portfolio management tools, a news feed, advanced market graphs and technical indicators; thus granting traders laser-like insight into the cryptocurrency markets.
Coinigy's Universal Exchange API will allow anyone to fetch, process and analyze real-time trade data across all supported exchanges. The new API will also support trading across multiple exchange accounts from one system, promoting market liquidity and allowing for instant arbitrage, advanced order types, and indicator-triggered ordering. This new service will act as a one-stop shop for anyone interested in building their own automated trading bots or services requiring cryptocurrency market data.
Some of Coinigy's exclusive features include: low-latency professional-grade Bitcoin charting and data tools, more than 60 technical indicators, drawing tools, and real-time data feeds across all devices. Portfolio monitoring allows users to track gains across all exchanges and monitor public wallet addresses in Bitcoin and hundreds of alternative cryptocurrencies.
The cloud basedCoinigy platform guarantees 99% uptime. All services and cryptocurrency trading tools will be available on iOS and Android together with automatic desktop, email and SMS alert functions. Coinigy ensures user safety with a multi-tiered server architecture and fully encrypted user data. Users attach their existing cryptocurrency exchange accounts to Coinigy and funds stay safely inside the exchange itself.For more information about us, please visithttps://www.coinigy.com.
Contact Info:Name: Derek UrbenEmail:[email protected]: Coinigy IncAddress: Coinigy Inc, 1127 N 115th St #1, Milwaukee, WI 53226Phone: (414) 301-2289
SOURCE: Coinigy Inc || London stakes its claim as global bitcoin hub: (Repeats Wednesday item) * UK authorities want to promote financial innovation * Government also aims to curb bitcoin use in crime * Bitcoin backers say UK attitude makes London attractive * World's biggest bitcoin networking group is London-based By Jemima Kelly LONDON, April 15 (Reuters) - London, centre of the $5-trillion-a-day global currency market, now wants to be home to a controversial upstart - bitcoin. British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent their use in crime. But it is technophiles who are leading the drive to make London a real-world hub for trade in web-based "cryptocurrencies", of which bitcoin is the original and still most popular. Every Tuesday evening in a trendy cafe in London's Shoreditch neighbourhood, a group of digital currency enthusiasts gathers to discuss ideas, "vape" from e-cigarettes and exchange their pounds for bitcoins in a dedicated "ATM". With more than 2,200 members, CoinScrum, run by a former derivatives trader who left the world of traditional finance to work on a digital currency start-up, is the biggest bitcoin networking group in the world. Its meetings draw a mostly young, mostly male crowd - some amateurs, others who have come to Britain to start bitcoin businesses. Already the capital of traditional currency trading, London is competing with San Francisco's web expertise and New York's financial clout as it pushes to be the foremost financial technology - or fintech - centre in the world. Last month the British government announced plans to regulate digital currency exchanges to prevent their use in money-laundering, and to help to develop a set of standards for cryptocurrencies. Backers of bitcoin praised this for lending legitimacy to the currency - which unlike traditional money has no printed form and remains outside the control of central banks - without stifling innovation. "London has been the home of financial innovation for hundreds of years," said Nicolas Cary, co-founder of Blockchain, which provides bitcoin data and "wallet" software for storing the currency. "It would be a historical mistake not to make this the home of digital currencies. There's an incredible amount of talent and experience here." Just over 14 million bitcoins are in circulation, worth around $3.1 billion at the current exchange rate of around $220 each. Bitcoin brought 29-year-old Cary to Britain two years ago from Denver, Colorado. He joined forces with Ben Reeves, then a 22-year-old computer science graduate, to develop the Blockchain wallet, spending the first year working out of a two-bedroom apartment in northern England. Story continues Now Blockchain, named after the technology behind bitcoin, is the world's biggest wallet provider, with over 3 million users. Last year it raised over $30 million in its first round of funding, including from billionaire Richard Branson. POSITIVE ATTITUDE While some people argue that London lags New York overall as the centre for traditional finance, many say the latter's attitude to digital currencies - including a state plan to impose a "BitLicense" on bitcoin start-ups - makes London more attractive for the growing number of businesses dealing in the budding technology. "What we see in the UK ... is a different attitude," said Jerry Brito, executive director of Coin Center, a Washington DC-based non-profit advocacy group for digital currencies. "It's a very positive attitude, one of: this is an amazing innovation, we're going to have to have some kind of regulation in terms of money laundering, but let's do this in a constructive way, in partnership with the technologists and the industry." Detractors worry that digital currencies make it easy for users to buy products anonymously from websites like Silk Road, an underground marketplace for drugs and other illegal goods which was shut down in 2013. But advocates argue that using cash for illicit trades is easier and less traceable, pointing out that most U.S. banknotes are contaminated with cocaine. Asked about bitcoin, the governing body for the City of London financial district said authorities needed to be "alive to the potential risks and take strong action if they find evidence of abuse or criminal activities". But the employment and growth opportunities offered by the fintech in general were to be welcomed, it said. Britain made bitcoin trading exempt from value-added tax last year. Other countries have yet to decide how to tax bitcoin, since its independence from any central bank means it does not fall into the traditional definition of money. However, Australia has made bitcoin transactions subject to goods and services tax. That helped to drive CoinJar, an Australian company that allows users to buy, sell and spend bitcoins, to move its headquarters to London last December. INVESTMENT Later this month Swiss banking giant UBS will open a technology lab in London to explore the wider application of the technology in the financial services industry. Finance minister George Osborne has said he wants Britain to lead the world in developing fintech, highlighting the potential of digital currencies. Last year investment in fintech firms in Britain and Ireland more than doubled compared with 2013, to $623 million, representing 42 percent of such investment in Europe, according to consultancy Accenture. Alongside the new regulation and standards, the British government promised an additional 10 million pounds ($15 million) for a research initiative that will look into the blockchain technology behind digital currencies. It is the blockchain - essentially a ledger of every bitcoin transaction that is virtually impossible to tamper with - that the Bank of England has also said could be revolutionary. Central banks, it has said, could eventually issue digital currencies of their own. Dozens of others have copied this technology to set up their own digital currencies, though none has so far managed to knock bitcoin off the top spot. TANTRIC MASSAGE Londoners can change cash for bitcoins at seven ATMs in the capital, and use them to pay for anything from tantric massage to a designer dress, a pork chop to a pint of beer. One company even allows rent on property to be paid in bitcoin. Back in the trendy "Vape Lab" e-cigarette cafe, one young bitcoiner was putting 800 pounds' worth of 20 pound notes into a bitcoin ATM in exchange for the digital currency. "I just sell bitcoin to others, because they don't know how to do it, so I take advantage of that and I make a profit," he said. ($1 = 0.6774 pounds) (editing by David Stamp) View comments || Fed Rate Hike Predictions Get Even Murkier: Analysts have been betting on when the Federal Reserve will raise its key interest rates ever since the U.S. central bank began tapering its controversial bond buying plan in 2014.
While many were expecting a rate hike as early as next month when the year began, most have pushed their forecasts back in light of dovish comments from the Fed and questionable economic indicators.
Conflicting Statements
Last week, Fed Chair Janet Yellen reassured markets that the bank was planning to proceed with caution in regard to a rate hike. As usual, Yellen said the bank will allow economic conditions to determine when rates can be increased, saying the decision will be re-evaluated at every FOMC meeting.
However on Friday, Fed Vice Chairman Stanley Fischer made some waves among investors aftercommentingon the bank's plans going forward during a monetary policy conference in Chicago.
Fischer remarked that it may be counterproductive for the bank to give markets too much forward guidance when it comes to raising interest rates.
His comments could indicate that the bank will not provide much warning once they've made a decision about the timing of a rate hike. Fischer also confirmed that the bank was planning to raise rates some time in 2015.
Shifting Projections
Forecasts for the timing of a rate increase have become increasingly cloudy as the bank's rhetoric suggests that even the central bankers themselves are unsure about when to act.
Economists atJP Morganare betting on a September hike, but others are more optimistic with June forecasts.
Related Link:Federal Reserve To Proceed With Caution
Data To Be The Market Focus
Although no one can be sure of when the bank will act, investors will be keeping a close eye on the spate of data due out this month for a better picture of the U.S.' economic health.
Fourth quarter GDPfigures out last week showed that the U.S. economy didn't improve as quickly as economists had predicted; the report showed that the U.S. economy grew at a 2.2 percent annual pace, lower than the 2.6 percent most had forecast.
Despite disappointing fourth quarter GDP figures, most expect that the U.S. economy will continue on a positive trajectory through the first quarter.
This week will be packed with valuable economic data that will provide some insight into the nation's first quarter performance, but the most closely watched release will be the Labor Department's unemployment report— due out on Friday.
The figures will give markets a better idea about the state of the U.S. labor market, a good indication of the pace of the nation's of recovery.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Exchange itBit says it won part of bitcoin auction: NEW YORK (Reuters) - - Bitcoin exchange itBit on Tuesday said it had won part of the U.S. government's third auction of bitcoins seized from Ross Ulbricht, who was convicted last month of operating black market website Silk Road. The company said it won 3,000 of the 50,000 bitcoins auctioned last week by the U.S. Marshals Service. The Marshals Service said earlier on Tuesday there are two other unidentified winners, which took 27,000 and 20,000 coins respectively. In late trading on Tuesday, bitcoin was up 1.8 percent at $292.19. That put the value of the 50,000 bitcoins auctioned at $14.6 million. ItBit was founded in 2012 as a global exchange for institutional and retail investors. It has offices in New York and Singapore. Last week's auction attracted 34 bids from 14 registered bidders. That was more than the last bitcoin auction in December when just 11 buyers submitted 27 bids. The first auction in June attracted 45 bidders and 63 bids. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrew Hay) || Ripple Labs Names Former State Department Official Anja Manuel as Advisor: SAN FRANCISCO, CA--(Marketwired - Mar 18, 2015) - Ripple Labs today announced that it has named Anja Manuel, Co-Founder and Partner at RiceHadleyGates LLC, and a former U.S. Department of State official, as an advisor to the company. " Ripple is one of the most innovative technologies I have seen," said Manuel. "It has the potential to expand the global economy through increased trade, and enables better, more transparent regulatory oversight of payments. I am excited to help build on Ripple's impressive momentum and help it to gain traction internationally." Manuel is a Co-Founder and Partner along with former Secretary of State Condoleezza Rice, former National Security Advisor Stephen Hadley, and former Secretary of Defense Robert Gates in RiceHadleyGates LLC, a strategic consulting firm that assists senior executives at major U.S. companies in key emerging markets such as China, India and the Middle East. She also teaches in Stanford University's International Policy Studies program. Previously, Ms. Manuel served as an official at the U.S. Department of State, where she held responsibility for South and Central Asian policy, congressional outreach, and legal matters. She was part of the negotiating team for the U.S.‐India civilian nuclear accord, helped to secure passage of the accord through the U.S. Congress, and was extensively involved in developing U.S. policy toward Afghanistan and Pakistan. Prior, Ms. Manuel was an attorney at WilmerHale and investment banker at Salomon Brothers International in London. She holds a B.A. and M.A. from Stanford University and a J.D. from Harvard Law School. "I am excited to welcome Anja to the Ripple Labs team," said Ripple Labs CEO and co-founder Chris Larsen. "Her advice will be key as we grow our international presence and Ripple's adoption by financial institutions and payment networks across the world." Ripple Labs supports the adoption of Ripple, a settlement protocol that enables the world's disparate financial networks to securely transfer funds in any currency in real time. Banks, money transmitters and clearing houses can use Ripple as an alternative to correspondent banking to facilitate straight through processing with no reserve funding required. Earthport , the largest open network for global bank payments, and three banks in the United States and Germany recently announced integrations with Ripple. Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today's Internet of Knowledge. For more information about Ripple Labs, please visit http://www.ripplelabs.com . For more information about Ripple, please visit http://www.ripple.com . Story continues About Ripple Labs Ripple Labs is the global leader on distributed financial technology. The team supports adoption of the Ripple protocol, an Internet of Value (IoV) that enables the free and instant exchange of anything of value. The San Francisco-based startup is funded by Google Ventures, Andreessen Horowitz, IDG Capital Partners, Core Innovation Capital, FF Angel, Lightspeed Venture Partners, Bitcoin Opportunity Corp. and Vast Ventures. Named one of 2014's 50 Smartest Companies by MIT Technology Review, Ripple Labs' team of 100 is comprised of deeply experienced cryptographers, security experts, distributed network developers, Silicon Valley and Wall Street veterans. They contribute code to the open-source software, as well as develop tools for and recruit financial institutions and payment networks to use Ripple. The team shepherds a movement to evolve finance so that payment systems are open, secure, constructive and globally inclusive. About Ripple Ripple is an Internet protocol that interconnects all the world's disparate financial systems to enable the secure transfer of funds in any currency in real time -- consider it an Internet of Value (IoV). As settlement infrastructure, Ripple transforms and enhances today's financial systems. Ripple unlocks assets and provides access to payment systems for everyone, empowering the world to move value like information moves today. For more information about Ripple, please visit http://www.ripple.com . View comments || Solving Bitcoin's Scalability Problem: Bitcoin enthusiasts have long been working toward pushing the cryptocurrency into mainstream use to compete with paper money and credit card transactions.
However, now that new exchanges for buying and selling the digital currency are beginning to gain momentum as more of the public is takes an interest, many are wondering whether or not bitcoin will be able to handle a steep rise in transaction growth.
Blockchain Has Flaws
Although blockchain has been touted as one of the greatest technological advances of the decade, the ledger-like system does have limits.
Since each node of blockchain records every single transaction, the cost of running nodes will likely outweigh the benefits of using them if bitcoin grows into a mainstream payment method.
Most believe that bitcoin as it is now could not function as a payment platform on its own.
Filtering Out Necessary Information
Joseph Poon and Thaddeus Dryja say their latest development, theBitcoin Lightning Network, can help.
The lightning network allows some transactions to take place off of the blockchain and broadcasts only the final, necessary transaction information to the entire blockchain.
Related Link:Is There Room For Another Cryptocurrency?
The blockchain's ledger, accessible to everyone, would still have record of the transaction, but not any intermediary dealings that may have taken place.
A Work In Progress
The Bitcoin Lightning Network presents an exciting solution to bitcoin's scalability problems, but there are still several issues that need to be worked out before the network can be developed or considered as a viable way to do business.
See more from Benzinga
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• Facebook To Provide Internet Access Via Drones
• Not All European Firms Are Profiting From A Weaker Euro
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,888.16 #bitcoin #btc || 1 #BTC (#Bitcoin) quotes:
$257.52/$257.87 #Bitstamp
$253.51/$254.00 #BTCe
⇢$-4.36/$-3.52
$259.66/$259.95 #Coinbase
⇢$1.79/$2.43 || buysellbitco.in #bitcoin price in INR, Buy : 14959.00 INR Sell : 14499.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $893.93 #bitcoin #btc || One Bitcoin now worth $270.92@bitstamp. High $282.00. Low $264.94. Market Cap $3.768 Billion #bitcoin || buysellbitco.in #bitcoin price in INR, Buy : 15346.00 INR Sell : 14819.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,670.92 #bitcoin #btc || Current price: 193.05£ $BTCGBP $btc #bitcoin 2015-03-15 17:00:06 GMT || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $677.21 #bitcoin #btc || Bitfinex Prices
LAST: $255.00
BID: $255.00
ASK: $255.07
VOL: 13327.66 BTC
http://bit.ly/Cryptoticks
|
Trend: up || Prices: 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin mining farms in Chinas Inner Mongolia region are set to face higher electricity prices after a government crackdown: Twenty-one bitcoin mining farms, including those of Bitmain, Ebang and China Telecom in China's Inner Mongolia region, are set to face higher electricity prices after a local government crackdown. Inner Mongolia's Department of Industrial and Information Technology issued a notice to Inner Mongolia Power Group on Monday, saying that 21 bitcoin mining farms should be disqualified from getting discounted energy because they were disguising themselves as big data and cloud computing companies to get electricity benefits. As a result, electricity prices for these farms are likely to increase by 0.1 yuan, or $0.015, per kilowatt-hour (kWh), PoolIn CEO Kevin Pan told CoinDesk. The current electricity cost for mining farms in the region is reportedly around 0.260.28 yuan ($0.038 to $0.040) per kWh. The higher electricity prices, in turn, would result in higher operating costs for these mining farms. If a mining farm is running at a capacity of 10,000 kWh, that will reportedly result in an additional $3,360 operational cost per day. The real impact of this news, however, is yet to be seen on China's mining industry, Thomas Heller, former F2Pool executive and now COO of bitcoin mining firm HASHR8, told The Block. This is because "there are a number of large coal-powered mining farms in Inner Mongolia, and many more in other parts of China, such as Sichuan and Xinjiang." © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 19, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.
ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BC
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. [email protected]
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/602490/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Where FATF Crypto Compliance Gets Interesting: Africa: Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF). A broad range of entities operating in Africa, ranging from crypto exchanges to remittance providers to peer-to-peer marketplaces, are exploring KYC options, which could mean picking up licenses from other jurisdictions or even creating new regulatory frameworks in some cases. Related: Paxful Chips Away at LocalBitcoins' Russian P2P Market Dominance The FATF makes reference to jurisdictions with “weak or non-existent” anti-money laundering (AML) and counter-terrorist financing (CTF) controls in its recently published summer plenary report . Read more: FATF Plans to Strengthen Global Supervisory Framework for Crypto Exchanges If a so-called stablecoin provider were located in a jurisdiction with poor AML/CTF controls, other jurisdictions could apply their stronger AML/CTF laws to these providers, says the FATF report. But enforcement of any rules might be difficult if the home supervisor of the virtual asset services provider (VASP) had not implemented the revised FATF standards strongly enough to respond to international co-operation requests, the report continues. Related: How One Firm Is Addressing the Interoperability Problem Posed by FATF's Travel Rule Nonetheless, innovative crypto players in Africa and other parts of the unregulated world are doing their best to be AML-compliant with a view toward meeting the requirements of the Travel Rule. The Travel Rule mandates that the senders and receivers of crypto transactions over $1,000 on regulated exchanges must be identified. Shopping for regs “In places where there aren’t really e-regulatory rules yet, firms are doing KYC and using blockchain analytics for AML,” said former Kenya resident Pelle Braendgaard, CEO of crypto identity startup Notabene . “People are shopping around for regulation, looking at remittance licenses to deal with foreign partners so they can have at least some level of clarity.” Story continues This was the approach taken by BitPesa, launched in Kenya in 2013. The cryptocurrency payments and liquidity platform, which rebranded as AZA last year, snagged a license from the U.K.’s Financial Conduct Authority (FCA) in 2015, then acquired money transfer company TransferZero in 2018, gaining a license from the Spanish central bank. Read more: Identity Startup Notabene Launches Exchange Tool for FATF Travel Rule Compliance When AZA expanded into Nigeria, it helped the Nigerian central bank address the dearth of crypto regulation, taking part in a government DLT task force, said Stephany Zoo, AZA’s head of marketing. “Our AML and KYC are of U.K. and European standards, which means we are asking for things that nobody else on the African continent is asking for,” said Zoo, adding: “We have a number of automated AML and KYC platforms that are integrated into ours, but when you don’t have the same kind of access to government databases, it becomes much harder to run these checks. So, unfortunately, we do have to use a combination of automated and manual systems.” AZA also recently became the first company to get a digital remittances license in Uganda, which involved some hands-on effort. Read more: Why Binance and Akon Are Betting on Africa for Crypto Adoption “We basically lobbied the central bank for three years and finally they created a license for us,” Zoo said. “In Africa, that’s what you kind of have to do, you have to work with the government very closely because these regulations don’t exist, so you have to create them.” Collecting remittance licenses is one approach; formulating an entire regulatory framework is another. That’s what Cryptobaraza CEO Michael Kimani is attempting to do with the Blockchain Association of Kenya . Kimani counts South African crypto exchange Luno among the association’s backers, and says members would like to move the regulatory process forward on their own steam, rather than wait for state-led supervision to emerge. He also expects guidance on this project from the likes of FATF and the International Monetary Fund (IMF). “We are creating our own virtual currency guidelines and we are hoping to submit about 15 regulations,” said Kimani. “One of the reasons I’m trying to push this, as the chairman of the association, is because I feel it’s important we cater to local peculiarities and don’t just end up adopting some laws that may have been customized for a completely different market.” Africa is a complex and varied market. Its many local nuances mean Western companies can experience epic failures, such as BebaPay , Google’s bank-backed attempt at travel cards. Even M-pesa, the Vodafone- backed mobile-phone money with a monopoly in Kenya, failed miserably in South Africa, where some 75% of the population have bank accounts. There’s also a lesson here for Facebook and the proposed cryptocurrency libra, says Kimani: “I think the challenge is, no one wants to see a foreign company come in here and just dominate the payments scene.” Read more: Vodafone Is the Latest Big Company to Quit Facebook-Founded Libra Association P2P pump African countries with more advanced banking and financial infrastructure such as Nigeria are beginning to see impressive growth in crypto, not only in remittances but around investing and trading, said Ruth Iselema, CEO and co-founder of crypto exchange Bitmama . “There’s not much in the way of government rules,” said Iselema, “but we can KYC users with Nigeria’s BVN [bank verification number]. It’s like a social security number, but not everyone has one. Or you can use an international passport when you have higher transaction limits.” But exchange-based trading in Africa is only part of the picture, as Cryptobaraza’s Kimani points out. Peer-to-peer (P2P) marketplaces are growing fast across the continent. This type of crypto adoption between so-called “unhosted wallets” occupies the other end of the regulatory spectrum from the FATF’s VASP regime. “The best way to mitigate the ML/TF [money laundering/terrorist financing] risks posed by such disintermediated transactions remains an area of focus and will be considered in further detail by the FATF as part of its ongoing work on virtual assets,” states the FATF plenary report. Read more: Binance-Backed Crypto Payments App Launches as Race for Africa Heats Up There are, in fact, two types of P2P markets in Africa, said Kimani. The first includes the likes of LocalBitcoins and Paxful. But there’s another whole system of informal networks based on trust and reputation. Pockets of trading using Telegram and WhatsApp are also very popular, said Kimani, who has acted as an escrow agent to such trust networks. “This happened before crypto with PayPal, Skrill and Neteller,” said Kimani. “People feel comfortable knowing they are dealing with someone they trust. A lot of crypto conversations are fixated on AML, but I think crypto could learn a lot from how these trust networks operate.” The Paxful challenge Meanwhile, P2P marketplace Paxful, which is now experiencing explosive growth in Africa, has taken on an inordinate KYC challenge across the region. Paxful CEO Ray Youssef explained his company is building a localized KYC “switchboard,” in rather the same way Paxful itself has evolved into a universal switchboard for money. “It’s a big job, believe me; it’s like a whole other startup,” said Youssef. “For example, Nigeria has five different types of national ID, most of them don’t have an expiry date. In Kenya, there’s no such thing as proof of address. If someone has an ID from a little country like Malawi, for example, we are routing KYC requests to one of the very few appropriate KYC providers. Sadly, most KYC providers have left Africa behind.” A large slice of Paxful’s business in places like Nigeria involves the trading of gift cards (Amazon, Apple, etc.) for bitcoin . These gift cards are sold for bitcoin at between 60 cents and 80 cents on the dollar, which critics flag up as inherently scammy. Some of the business is fraudulent, as Paxful will admit. “We have made 99.5% of gift card transactions safe, which is a monumental achievement,” said Youssef. “LocalBitcoins dropped gift cards because they don’t have the capability to support this. But we haven’t abandoned gift cards, and they are most challenging. Why? Because they are a key route to onboarding the emerging world.” Read more: Charlie Shrem TLDL: Ray Youssef and Crypto’s Role in Africa There appears to be a vibrant system of gift card remittance (many gift cards are purchased by expat Nigerians in the U.S., who immediately send pictures of the cards, plus receipts back to relatives who then trade for bitcoin). Indeed, gift cards are even described as a kind of “stablecoin” to the Paxful ecosystem; this is not so different from the hack where Kenyans started selling mobile-phone minutes, which ultimately led to M-pesa. Youssef said gift card trading, plus the creation of a bitcoin trade route between Nigeria and China, have paved the way for a crypto gold rush in Africa. He also thinks P2P is going to be front and center. “P2P is how the world works,” said Youssef. “Dare I say it – and I do – in two years time, P2P volume will flippen exchange volume, which is vastly inflated. They’ve got some surprises coming from the people of Africa.” Related Stories Where FATF Crypto Compliance Gets Interesting: Africa Where FATF Crypto Compliance Gets Interesting: Africa || Bitcoin News Roundup for July 14, 2020: Related:The Real Story Behind Tesla's Crazy Rally
• Bitcoin News Roundup for July 14, 2020
• Bitcoin News Roundup for July 14, 2020 || Twitter hack: FBI leading investigation into bitcoin scam targeting Obama, Musk, Biden and other high profile accounts: Twitter's headquarters, pictured, are situated in San Francisco, California: AFP The Federal Bureau of Investigation is leading the inquiry into Wednesday’s Twitter hacking, according to a report. Hackers seized control of a number of accounts belonging to Joe Biden , Bill Gates , and Elon Musk, among others, in an apparent bitcoin scam. An earlier statement from the FBI said: “We are aware of today’s security incident involving several Twitter accounts belonging to high profile individuals. The accounts appear to have been compromised in order to perpetuate cryptocurrency fraud.” On Thursday Reuters cited sources as saying federal investigators were now leading the probe. Neither the FBI nor Twitter have publicly confirmed the report. The attacked occurred on Wednesday afternoon in multiple waves. First the scam targeted accounts of prominent cryptocurrency leaders and companies before moving onto top names in politics, tech, and the entertainment industry. Each of these accounts posted the similar messages: send Bitcoin and the famous people would send back double your money. As the attack played out – with Barack Obama , Kanye West and Jeff Bezos among the dozens of users affected – Twitter attempted to delete the scam messages. But hackers appeared to have control over the situation as they were able to go back into accounts and re-post the message. In the end, Twitter disabled the ability of verified accounts to post tweets for a short period on Wednesday. An investigation led by the social media company revealed what it believed to be “a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools”, according to a statement. “We’re looking into what other malicious activity they may have conducted or information they may have accessed and will share more here as we have it,” the company added. Several hours later on Wednesday, Twitter chief executive Jack Dorsey confirmed it had been a “tough day for us at Twitter”. “We all feel terrible this happened,” Mr Dorsey added. “We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.” The hack prompted Republican senator Josh Hawley of Missouri to write a letter to Mr Dorsey on Wednesday about the nature of the attack and what accounts it impacted. “I am concerned that this event may represent not merely a coordinated set of separate hacking incidents but rather a successful attack on the security of Twitter itself. As you know, millions of your users rely on your service not just to tweet publicly but also to communicate privately through your direct message service,” Mr Hawley wrote. “A successful attack on your system’s servers represents a threat to all of your users’ privacy and data security.” Story continues He urged Mr Dorsey and Twitter to work with the FBI and Department of Justice to rectify the problem. Read more Congress debates if magic mushrooms will make DC ‘drug capital’ US election 2020: How to register to vote Mary Trump: US has devolved into my ‘incredibly dysfunctional family’ Republicans limit convention attendance over coronavirus fears View comments || New Coalition Targets 500% Boost In Employment Of Black Theater Professionals By 2030: Click here to read the full article. A new organization called Black Theatre Coalition has launched its inaugural program to increase work opportunities for Black theater professionals by at least 500% within the next 10 years. And the group has hit the ground running, announcing a partnership with the producers of Broadway ’s upcoming revival of Steven Sondheim’s Company to initiate 10 paid apprenticeships for young Black men and woman. The Company internships will represent every department of the production, and span the first rehearsal through opening night. More from Deadline Broadway Community Project Maps Industry Family Tree To Demonstrate Scope Of Shutdown, Need For Relief Nick Cordero Concert Recording Set For Release On Late Actor's Birthday IATSE Releases COVID Safety Guidelines For Broadway Return: Testing, Sick Leave & Pick Up Your Own Playbills In addition, BTC says three Broadway management companies have pledged to employ four Black general managers when the pandemic shutdown lifts. BTC also announced plans to present a series of three shows per year in New York City – one original musical, one revival of a musical and one new play – featuring works produced, created, designed and managed by Black artists and executives. The group has partnered in the project with musician Wynton Marsalis, artistic director of Jazz at Lincoln Center. Cofounded by actor T. Oliver Reid ( Hadestown ), choreographer Warren Adams ( Motown the Musical ) and philanthropist Reginald “Reggie” Van Lee to increase Black employment and eradicate racial inequities in American theater, BLC today released a grim accounting of Broadway’s historical regarding Black inclusion. According to the group’s research, since the first Broadway musical 154 years ago, the industry has produced 3,002 musicals and 8,326 plays, with only 10 Black directors of musicals, 11 Black directors of plays, 17 Black choreographers, and 2 Black lead producers of musicals. Other segments – writers, composers, scenic, lighting, costume, sound, video, music contractors, musical directors, arrangers, orchestrators, hair/wigs/makeup, casting, general management, stage management, company management, public relations and marketing/advertising – range in number from 0 to 5 Black professionals per category. Story continues In a joint statement, Reid, Adams and Van Lee said, “Once we identified just how vast the disparity is between the perceived inclusivity on stage and the utter dearth of Black professionals off stage, we began outlining ways in which we could address and ultimately eradicate this invisible imparity. This outline provided a clear path forward for our organization and our entire industry. It’s high time to end this ‘illusion of inclusion’ by reshaping the theatrical ecosystem for those who have been marginalized by systematically racist and biased power structures that have endured since the dawn of the American theater.” The group, including Executive Director Afton Battle and Board Member Aaliytha Stevens, has outlined three steps in its inaugural program. As defined by BTC, the steps are: Mobilize. BTC has secured partnerships with top companies and professionals across every major sector of the Broadway ecosystem, including producers, designers, directors, general managers, casting directors, press agents, advertising & marketing executives, booking agents, attorneys, and theater companies. These partnerships are critical to creating, building and implementing BTC’s sustainable program model. These non-Black accomplices have agreed to work with BTC to (1) identify Black candidates for employment in their offices, (2) implement paid intern and mentorship programs for Black Creatives, (3) create paid fellowships and/or create leadership positions in their offices and hire paid Black assistants on future Broadway projects. As an example, there are no Black General Managers working on Broadway. However, when Broadway raises its curtains again, there will be four Black general managers employed in three management companies, a 400% increase of Black professionals, due to the partnerships that BTC has implemented. BTC is also establishing connection initiatives with colleges and universities to create a sustainable pipeline of Black graduates entering the workforce, as well as currently working black professionals who may have access to intern and apprenticeship opportunities for these graduates. We are working with sister organizations, Black Theatre United, Broadway Advocacy Coalition, Broadway Serves and others to share resources as needed; Implement. To support recruitment efforts and to provide a comprehensive repository, BTC is building a national database that intends to include every Black, behind-the-scenes theater professional in the United States. This database will serve as Broadway’s resource for locating, contacting and employing Black creatives and executives. As an initial partnership, BTC and the producers of the Broadway revival of Sondheim’s Company have joined forces to implement ten paid positions as apprentices, from producorial to each creative design area, as the show goes back into rehearsals and through opening night. We hope to adopt this model with every Broadway show; Transform. Each year, BTC will present an annual Performance Series with three shows including one original musical, one revival of a musical and one new play. This platform will feature works produced, created, designed and managed by Black artists and executives. This will ensure mentorship for Black theatre professionals at each stage of their careers while delivering powerful and engaging work. New York City will be our stage. As part of this transformation, BTC is honored to be partnered with acclaimed Jazz Impresario Wynton Marsalis from Jazz at Lincoln Center. Best of Deadline U.S. Coronavirus Update: New Cases Break Record 70,000 For The First Time; Infections Up 40% Since Early July Coronavirus: Movies That Have Halted Or Delayed Production Amid Outbreak Hong Kong Filmart Postponed Due To Coronavirus Fears; Event Moves Two Weeks Before Toronto Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . || Why It’s Time to Pay Attention to Mexico’s Booming Crypto Market: Luis Sosa, 39, the creative director at a startup in Mexico City, watched with skepticism as his friends invested in bitcoin a decade ago. Even after they made good on their investments, Sosa kept his distance. Now, his attitude toward crypto is changing, but not for the reasons you’d think. “With the increasingly onerous banking requirements in Mexico, I am very tempted to use crypto, especially to buy things online,” Sosa said. Related: Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China Sosa is not alone. In a trend that is largely unnoticed outside of the country, Mexico is embracing cryptocurrency at a breakneck speed. In the eight months between September 2019 and May 2020, the trading volume of Mexico’s leading crypto exchange, Bitso , grew by 342%, according to the exchange. Earlier this year, Bitso announced it had surpassed 1 million users on its platform, of which 92% are Mexican. For comparison, there are 35 traditional brokerages in the country with under 400,000 active trading accounts in total, according to Mexico’s financial authority, CNBV . “It is truly shocking because we are seeing how only one cryptocurrency exchange has demonstrated greater potential than 35 dedicated investment management entities,” said Eloisa Cadenas, CEO of consulting firm CryptoFinTech and professor at the Mexican Stock Exchange Group . But…Why? Related: Bitcoin Entering 'New Adoption Cycle,' Coin Metrics Exec Says Sosa is drawn to crypto in part for its potential to transfer money more easily. In Mexico, that is becoming increasingly hard to do. In its effort to crack down on criminal activity, Mexico may have made simple transactions difficult for ordinary citizens as well. The country has long struggled with tax evasion and money laundering. But two years ago, Mexico decided to put substantial prevention methods in place. In August 2019, right before Bitso’s trade volume began its dramatic climb, the government began implementing new fintech laws that sought to govern financial service providers in the banking and private capital sectors, from entrepreneurs to crowdfunding institutions. Story continues According to the new laws, tech firms that hold deposits for users had to register as a financial institution within the country. But compliance was expensive, with applications running over $35,000 and the law requiring businesses – even startups – to have a minimum annual profit of $100,000. National media reported at the time that of the 500 listed startups in the country, 201 had to be approved by regulators to continue operations. Once the new laws rolled in, only 85 ended up applying for accreditation. Bitso was among the firms approved to continue operations in Mexico. Read More: Experts Say Mexico’s Regulations Raise the Bar ‘Too High’ for Crypto Entrepreneurs In order to comply with the new banking laws in Mexico, PayPal announced it will no longer be holding deposits on customer accounts. Now, it only processes payments as an intermediary, which means Sosa can no longer maintain a balance on his account. When Sosa’s mother, based in New York, wants to send him money, she can use PayPal or Western Union if she pays a transaction fee . Instead, she sends funds from her Apple Pay account to Sosa’s, where the funds remain inaccessible until he travels to the U.S. With the increasingly onerous banking requirements in Mexico, I am very tempted to use crypto, especially to buy things online Crypto trading platforms can facilitate faster money transfers at a lower cost than banks. According to Cadenas, who is also pursuing a PhD in financial engineering, the combination of Mexico’s stringent new banking laws, expensive financial services and large unbanked population is driving public interest in cryptocurrencies. Like other countries, crypto is used primarily for speculation and trading in Mexico, Cadenas said. But the multibillion-dollar flow of remittances into the country, particularly from the U.S., and the difficulties involved in money transfers, have created a unique business opportunity for crypto platforms that promise to make transactions easier and cheaper. “Internally, we can say that the use of cryptocurrencies is becoming more attractive compared to what other financial institutions offer,” Cadenas said. Record-Breaking Remittance Flows In 2014, Bitso launched Mexico’s first bitcoin exchange. According to Bitso co-founder and CEO Daniel Vogel, in 2016 Bitso grew thanks to young adult gamers in Mexico paying f or video games with bitcoin on the digital media platform Steam. But all that went away the following year, when bitcoin’s value soared from $900 to $20,000 in a matter of months. By the end of the year, bitcoin transaction fees also spiked , accounting for up to 40% of a single transaction. The young gamers simply couldn’t afford it anymore. “Transaction fees went through the roof, from costing a fraction of a penny to $20 or $30 on their Steam accounts, and that use case just disappeared,” Vogel said. The year of speculation was 2017, with crypto market capitalization reaching $600 billion , and U.S.-based crypto exchange Coinbase becoming the #1 app on iTunes . “But this is Mexico. You don’t have as much disposable income as places like the U.S. or Europe or Asia. And so even though trading revenue did go up, we didn’t grow as much as some of the international players,” Vogel said. But there was a massive untapped market just begging for new players: remittances. Bitso had already partnered with payment platform Ripple to enable the quick transfer between dollars and pesos via liquid XRP , and the firm began processing remittance transactions. Read More: The New US-Mexico-Canada Trade Pact Holds Opportunity for Distributed Tech “We transacted, I think on a weekly basis, almost 10% of the remittances from the U.S. to Mexico and on a monthly basis over 7% of remittances. And that was super exciting,” Vogel said. Today, with the COVID-19 pandemic spreading through the region, Mexico’s central bank reported that in June 2020, Mexican workers in the U.S. sent home a whopping $3.56 billion in remittances, up 11% from the previous year. Almost all of those transactions were electronic transfers, through bank accounts, Western Union , PayPal’s Xoom and crypto trading platforms like Bitso. But there are charges involved. Last year, Mexico President Andrés Manuel López Obrador blasted Western Union and Xoom for charging high fees on remittance transfers. For instance, Xoom charges up to 4% in transaction fees, and earns profits on the exchange rate each time money is sent to Mexico. Internally, we can say that the use of cryptocurrencies is becoming more attractive compared to what other financial institutions offer Comparatively, depending on which exchange you use, the transfer cost of that money via cryptocurrency can be as low as 0.1%, Cadenas said. According to Bitso’s website , a number of withdrawal methods, including bank transfers, are free for users receiving funds through the exchange. According to Cadenas, Bitso processed 3.5% of incoming remittances in January this year, which increased to 5.3% in a matter of weeks. But there’s another problem: A 2018 global database on financial inclusion published by the World Bank revealed 63.1% of Mexican adults (ages 15 and above) didn’t have a bank account. The Banks According to Jonathan Terluk, senior economic and public policy analyst at EMPRA , an emerging markets consulting firm that focuses on Mexico, the country’s large unbanked population and cash-driven informal sector is made up of workers or businesses that are not registered with the government. Between 55% and 60% of the total employed population in the country belong to this informal sector and are paid in cash, he added. Mexican citizens without bank accounts use digital payment systems provided by the likes of Oxxo , a chain of grocery stores akin to America’s 7-Eleven franchise, that accepts cash payments for everything from groceries to phone bills and electric bills. The system also processes payments for online purchases, and allows users to deposit money into debit cards or bank accounts. Since it has partnered with Xoom and Western Union, remittances can be sent to your nearest Oxxo for cash pickup. “We’ve had to come up with all these workarounds, because people don’t trust credit cards or banks that much and a lot of people just use cash,” Sosa said. One reason for the general distrust in banks, Cadenas said, is that Mexico’s traditional financial services are expensive. The average annual interest rate for a credit card can be around 27.4% in Colombia, while the weighted annual interest rate of a classic credit card at Mexico’s Citibanamex is 56.3%. According to Cadenas, the annual interest on a personal line of credit is around 21% in Colombia, approximately 45.34% in Peru and 67.2% or higher in Mexico . “To give an example, if today I request a [line of] credit of approximately $10,000, in five years, I will end up paying $30,000, it’s crazy,” Cadenas said, after calculating the amount on the government’s credit simulator . By contrast, anyone can create an account and wallet on crypto exchanges to start trading. Setting up an account is usually free, and exchanges may charge a trading fee (Bitso charges between 0.05% and 0.5%). Bitso’s transfer platform works like peer-to-peer lending app Venmo, where you can store, send and receive money free of charge. To serve the large population without bank accounts, crypto platforms usually offer multiple withdrawal methods that include transferring funds directly to your mobile phone, or a digital coupon to avoid bank deposit fees. Taxes Another reason why crypto might be an appealing option to a population that feels exploited by traditional financial services is that even though crypto platforms are regulated in the country, there is no comprehensive framework on how it’s taxed. In accordance with anti money-laundering requirements, crypto firms must report transactions (one-time or over a period of six months) exceeding roughly $2,500 to the financial authority as a “vulnerable transaction,” Diego Ramos Castillo, crypto litigator and founding partner of a commercial law firm in Mexico told CoinDesk. Beyond that, there are no specific rules for crypto: Mexico is still trying to figure out exactly how to tax it, and right now, there is room for a bit of interpretation. Read More: Central Banks, Stablecoins and the Looming War of Currencies For instance, according to Ramos, there are certain tax perks to storing your wealth in crypto: If you want to open and maintain an account that holds any type of foreign currency, you are required to declare any gains or losses you have made during a period of time, even if those are just price fluctuations of the currency you’re holding. But you can hold your funds in stablecoins – cryptocurrencies backed by fiat assets in order to reduce volatility – more easily, Ramos said. Stablecoins are not considered a foreign currency so “you can have an account holding stablecoins, that would be the same as having a U.S. dollar account but you have the tax benefit of not having to report or declare the gains or losses until you sell the stablecoins,” Ramos said. Regulations The fintech regulations enacted last year included a whole chapter on virtual assets. As a consequence of the bill, exchanges were no longer allowed to hold or custody fiat currencies without a license. But applying for compliance was expensive and threatened to put crypto startups and entrepreneurs out of business. A provision in the bill also required Mexico’s central bank to issue specific secondary rules on how virtual assets would be regulated. According to Ramos, the law banned financial institutions from issuing or transferring the “risk of cryptocurrency” to the customer in any way. But institutions were still allowed to use crypto for internal operations, Ramos said. Read More: Mexico is Getting Eight New Cryptocurrency Exchanges But the regulations issued by the central bank sounded worse than they actually were, Ramos said, because the government did not ban crypto or call it illegal, and that was good enough. “The central bank recognized that crypto activities were permitted in Mexico. They were not illegal. What they were saying with this secondary provision was that financial institutions should take care and if possible avoid participating actively in the crypto industry,” Ramos said. So operating a crypto business in Mexico is expensive, thanks to the new fintech licensing requirements, but well within the law. Looking Ahead It will take some time for crypto firms to become the leading processors of remittances, or the go-to digital payment system in Mexico. Across the country, cash is still the preferred method of payment and cryptocurrencies are not widely accepted. The industry has its own shortcomings, starting with the fact that not many people understand how crypto works , and it seems daunting compared to a short walk to the nearest Oxxo. Sosa, for instance, will still need a bit more convincing before he actually opens a bitcoin wallet. “For the average consumer, I still find it’s just way too onerous. And, you know, I’m not gonna ask my mom to create a crypto wallet because that means that I’m going to spend six days walking her through it,” Sosa said. Nevertheless, startups are continuing to enter the Mexican crypto space. For instance, while Bitso is looking to expand outward, having already established itself in not only Mexico but also in Argentina, startups like crypto exchange Mexo are uniquely targeting local users. Mexo co-founder and partner Bo Zhou told CoinDesk that everything about the platform, starting with its Spanish-language website, is designed to attract users in Mexico to conduct local transactions. AirTM , headquartered in Mexico, provides blockchain-powered dollar accounts to users worldwide. Last year, the startup distributed $300,000 in donations to Venezuelans in need. Read More: Crypto Exchange AirTM Targets Troubled Markets With $7 Million Raise It appears Mexico not only has a large population open to exploring alternatives to traditional financial services, but a number of factors have aligned almost perfectly to facilitate mass adoption. It can also play a role in advancing financial inclusion, Cadenas said. “Cryptocurrencies in Mexico are a reality for those who not only seek to invest, but for individuals and companies that have the enthusiasm to improve their living conditions with more accessible financial products,” Cadenas said. Related Stories Why It’s Time to Pay Attention to Mexico’s Booming Crypto Market Why It’s Time to Pay Attention to Mexico’s Booming Crypto Market || 3 Reasons Bitcoin’s Price Could Soon Rise to $10K: Bitcoin jumped above $9,500 on Wednesday, ending a four-week-long low-volatility squeeze.
Now the cryptocurrency looks set to climb toward the psychological hurdle of $10,000, as suggested by several factors.
• Bitcoin’s high of $9,551 on Wednesday was its highest level since June 24, according to CoinDesk’sBitcoin Price Index.
• The gain has confirmed a Bollinger band breakout on the daily chart and opened the doors for a move of $400 or more on the higher side,as noted by Adrian Zdunczyk, CEO of trading community The BIRB Nest in a blog post.
• Bollinger bands are volatility indicators placed two standard deviations above and below the 20-day moving average.
• They had recently narrowed to levels last seen in November 2018 as the cryptocurrency traded in the very restricted range of $9,000–$9,400.
• A big move often follows a period of very low volatility.
• Open interest or open positions in bitcoin futures listed on the Chicago Mercantile Exchange (CME) – considered synonymous with institutional interest – jumped 15% to a one-month high of $452 million on Wednesday.
• The metric has risen by 24% over the past three days alongside bitcoin’s uptick from $9,120 to $9,550, according to data sourceSkew.
• Global open interest (as gauged by data from 12 major crypto derivatives exchanges) has risen above $4 billion for the first time since early March.
• A price rally is said to have legs if it is accompanied by an uptick in open interest.
• The “risk-on” mood in the traditional markets further supports stronger gains for the leading cryptocurrency.
• Global stock markets are trading at five-month highs while the U.S. dollar, a safe haven in times of crisis, is languishing near March lows, according toInvesting.com.
• The EU’sfiscal stimulus dealand market expectations of anadditionalU.S. coronavirus stimulus package are pushing stocks higher.
• Bitcoin hasrecently developeda stronger positive correlation with the equity markets.
• It’s worth noting thatescalatingChina-U.S. tensions pose a risk to the equity market rally and possibly bitcoin prices.
Disclosure:The author holds no cryptocurrency at the time of writing.
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K
• 3 Reasons Bitcoin’s Price Could Soon Rise to $10K || Cryptocurrency exchange Gemini adds three fiat-on ramps: Winklevoss-owned cryptocurrency exchange Gemini has added support for the Hong Kong, Australian and Canadian Dollar. The decision to add three more fiat on ramps comes after a year of global developments that has seen the exchange branch out to Asian territories following the appointment of Leonteq CEO Jeremy Ng as the Managing Director of the APAC region. According to an announcement on Gemini’s website, trading in HKD, AUD, and CAD will be offered on the main platform but not on its Active Trader platform, although an additional release is on the roadmap. Gemini is rapidly expanding its areas of availability under the guidelines of regulatory compliance. It expanded to Australia in late 2019 before actively developing its European branch in the United Kingdom. Attention customers in 🇭🇰Hong Kong, 🇦🇺Australia, and 🇨🇦Canada! You can now seamlessly transfer funds to Gemini to buy and sell #crypto with your native currencies. Welcome aboard $HKD , $AUD , and $CAD 🚀 Learn more here: https://t.co/xjQTCgqlJs pic.twitter.com/KPVx3Dtb4S — Gemini (@Gemini) August 17, 2020 The Winklevoss twins, who famously co-created Facebook alongside Mark Zuckerberg, have made headlines over the past week after appearing on popular day trader David Portnoy’s social media channels. The 38-year-old duo taught Portnoy the fundamental technology that underpins cryptocurrencies while helping him invest in Bitcoin and Chainlink. Story continues Chainlink surged significantly after the investment, with it eclipsing its previous all-time high with a rally to $20. Bitcoin, meanwhile, has also performed well recently as it attempts to break above the bitter $12,000 level of resistance. For more news, guides an cryptocurrency analysis, click here . || Previewing the Economic Showdowns Coming This Fall: From the size of a second round of stimulus to COVID-19 litigation to reshoring, last week previewed some key issues for the months to come.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byCrypto.com,BitstampandNexo.io.
Related:Rage Against the Economic Machine: The Best of the Breakdown July 2020
On this week’s edition of The Breakdown Weekly Recap, NLW argues the big story of the week was actually a set of smaller stories that preview the faultlines and economic debates likely to absorb us in the coming months.
• The Federal Reserve signaling that fiscal stimulus needs to do more
• The beginning of the battles on fiscal stimulus
• The introduction of the “not safe to vote” narrative
• The Big Tech vs. The World fight
• The beginning of coronavirus lawsuits
• Back to school
• Jobless claims getting worse
• Kodak and reshoring
Monday |SPACs 101: A Bubble, the Future or Both?
Tuesday |How Real Is Bitcoin’s Rally? 8 Interpretations of Bitcoin’s Massive Surge
Wednesday |How DeFi Could Disrupt Traditional Finance, Feat. Sergey Nazarov
Related:Bitcoin News Roundup for August 3, 2020
Thursday |The Bond Market Is the Truth Teller No One Heeds, Feat. George Goncalves
Friday |What a Professional Trader Thinks of the Fed, Robinhood and Real Estate, Feat. Tony Greer
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
• Previewing the Economic Showdowns Coming This Fall
• Previewing the Economic Showdowns Coming This Fall
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-07-18]
BTC Price: 673.11, BTC RSI: 53.89
Gold Price: 1328.40, Gold RSI: 55.49
Oil Price: 45.24, Oil RSI: 44.20
[Random Sample of News (last 60 days)]
U.S. tech company files bitcoin ETF application with SEC: (Adds byline, details on insurance, custodian bank, background on bitcoin, SolidX)
By Gertrude Chavez-Dreyfuss and Nikhil Subba
NEW YORK, July 12 (Reuters) - SolidX Partners Inc, a U.S. technology company that provides blockchain services, on Tuesday filed an application with the Securities and Exchange Commission to launch an exchange-traded product that tracks the price of bitcoin.
Blockchain is the technology that powers bitcoin, the digital currency. SolidX provides blockchain-based software relating to the recording of digital records, transfer of assets, and identity, according to its website.
The ETF product will be called SolidX Bitcoin Trust and will list on the New York Stock Exchange under the ticker symbol XBTC upon regulatory approval, SolidX Partners said on Tuesday.
SolidX is the second company to file for a bitcoin exchange-traded product with the U.S. regulator. The Winklevoss Bitcoin Trust, owned by brothers Cameron and Tyler Winklevoss, filed the first bitcoin ETF application three years ago.
In its SEC filing, SolidX said it will provide investors with exposure to the daily change of the U.S. dollar price of bitcoin. The value of bitcoin will be based on the price tracked by XBX, an index created by TradeBlock, a financial services company.
Bitcoin is a digital asset launched in 2009 that can be transferred among parties through the internet without the use of a central administrator or clearing agency. Its blockchain has gained global popularity due to its perceived usefulness in recording and keeping track of assets across practically all industries.
The exact size of the offering was not disclosed, but based on the filing, the company said the ETF will issue a basket of 10,000 shares.
Bank of New York Mellon has been tapped as the custodian of the cash held by SolidX Bitcoin Trust, while SolidX Partners will be responsible for the ETF's bitcoin holdings.
SolidX, in its ETF filing, said the bitcoin it will hold will be insured. The insurance will cover the loss of bitcoin through theft, destruction, or computer fraud.
Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange.
It has since recovered, hitting a more than two-year high of nearly $780 in the run-up to the British referendum on whether the country should leave the European Union. On Tuesday, bitcoin traded at $662.44 on the Bitstamp platform.
(Reporting by Gertrude Chavez-Dreyfuss in New York and Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila and Chris Reese) || Spain's Santander names ex-JPMorgan exec Masters blockchain guru: July 12 (Reuters) - Banco Santander SA, Spain's largest lender, named former JPMorgan executive Blythe Masters its senior blockchain adviser as banks race to find new uses for the technology behind virtual currency Bitcoin. Proponents of blockchain, or distributed ledger technology, say it has the potential to shake up how financial markets operate. The technology creates a shared database in which participants can trace every transaction ever conducted. Santander is one of several banks investing in this sector to avoid being left behind by fintech start-ups. Citigroup, BNP Paribas and Goldman Sachs are among other big global banks that have invested in the technology. Masters, who spent 27 years at JPMorgan, has been leading the charge into blockchain by financiers. The blockchain software firm she started, Digital Asset Holdings, has raised more than $60 million from investors such as Goldman Sachs and the Australian Securities Exchange, which is partnering with the firm to work on using the technology in the cash-equities market. Masters was previously the chairman of Santander Consumer USA Holdings' board. She rose to prominence during the 1990s when she helped to create the credit-derivatives market. Her appointment comes shortly after Santander became the first British bank to start using blockchain to record international payments. The lender said at the time that it may start rolling out the service to customers next year. (Reporting by Richa Naidu in Bengaluru; Additional reporting by Jemima Kelly in London; Editing by Saumyadeb Chakrabarty) || Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank: Bitcoin’s whiplash-inducing volatility continued this week when the cryptocurrency surged to new two-year highs on Monday before plunging 10 percent the following day. One of the major drivers of Bitcoin’s recent rise has been demand from China.
A group of Chinese companies, including Internet search giantBaidu Inc (ADR)(NASDAQ:BIDU), has raised $60 million in funding for Circle Inc, a U.S. startup based on Bitcoin’s underlying technology.
Circle is a blockchain-based digital payment app. Blockchain technology is the public ledger of all Bitcoin transactions and is often viewed as the major underlying innovation of Bitcoin.
Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology
“If you look at the trends, China very well could be the driver of the adoption of blockchain consumer services,” Circle CEOJeremy Allairesaid.
One potential hurdle Circle and other blockchain-based startups may soon have to clear is potential patent disputes. Australian Craig Wright, who claims to be Bitcoin founder “Satoshi Nakamoto” has now filed at least 50 patent applications via Britain’s EITC Holdings Ltd.
The London Review of Books claims that Wright is in the process of filing hundreds of patents that will eventually be sold for more than $1 billion.
In the meantime, Circle and its investors will continue to try to apply blockchain technology toward Allaire's goal of building a global bank that makes sending payments “as easy as sending an email.”
Disclosure: The author holds no position in the stocks mentioned.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Spain's Santander names ex-JPMorgan executive Masters blockchain guru: (Reuters) - Banco Santander SA, Spain's largest lender, named former JPMorgan executive Blythe Masters its senior blockchain adviser as banks race to find new uses for the technology behind virtual currency Bitcoin.
Proponents of blockchain, or distributed ledger technology, say it has the potential to shake up how financial markets operate. The technology creates a shared database in which participants can trace every transaction ever conducted.
Santander is one of several banks investing in this sector to avoid being left behind by fintech start-ups.
Citigroup, BNP Paribas and Goldman Sachs are among other big global banks that have invested in the technology.
Masters, who spent 27 years at JPMorgan, has been leading the charge into blockchain by financiers.
The blockchain software firm she started, Digital Asset Holdings, has raised more than $60 million from investors such as Goldman Sachs and the Australian Securities Exchange, which is partnering with the firm to work on using the technology in the cash-equities market.
Masters was previously the chairman of Santander Consumer USA Holdings' board. She rose to prominence during the 1990s when she helped to create the credit-derivatives market.
Her appointment comes shortly after Santander became the first British bank to start using blockchain to record international payments.
The lender said at the time that it may start rolling out the service to customers next year.
(Reporting by Richa Naidu in Bengaluru; Additional reporting by Jemima Kelly in London; Editing by Saumyadeb Chakrabarty) || Bitcoin 'miners' face fight for survival as new supply halves: By Jemima Kelly KEFLAVIK, Iceland (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions. Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers. The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion. The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground. But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation. From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate (BTC=BTSP), there will be just 12.5. That means only the mining companies with the leanest operations will survive the ensuing profit hit. "The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie." Story continues SOLVING PUZZLES The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralized global network. Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined. Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions. After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going. Bitcoin is now accepted by major organizations including U.S. online retailer Overstock.com and travel company Expedia. The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself. KEEPING COOL Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialized as bitcoin usage expands. As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialized that they can only perform the function of bitcoin mining, a whole industry has emerged. It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high. Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top. On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin. In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal. In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust. Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening. It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location. The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters. Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware. He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily." Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain. COMPETITION FROM CHINA Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring. Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower". "It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said. Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity. Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly. And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut. "By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov. (Reporting by Jemima Kelly; Editing by Dominic Evans) || Coinbase gets $10.5 million investment from Bank of Tokyo, two others: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it received a $10.5 million investment from Bank of Tokyo Mitsubishi UFJ (BTMU), the bank's Mitsubishi UFJ Capital unit and Sozo Ventures as part of a strategic partnership involving its long-term expansion.
Coinbase, which is the world's largest bitcoin company and currently operates in 32 countries, does not operate in Japan just yet, though it runs an exchange in Singapore. The company said Japan is a big part of its international expansion.
"BTMU will be a strong partner for us both in Asia and globally," Sam Rosenblum, international expansion and banking lead at Coinbase, said in a phone interview with Reuters. "Japan will certainly be an important market for us and one that is pretty critical for the development of digital currencies."
Bitcoin is a digital currency that enables users to move money across the world quickly and anonymously without the need for third-party verification.
Rosenblum said San Francisco-based Coinbase has been working with BTMU for about a year on various projects and those collaborations have culminated in a strategic investment.
Sozo Ventures, which has dual headquarters in Silicon Valley and Tokyo, early on has been instrumental in bringing Twitter to Japan.
In order for Coinbase to do business in Japan, it would need regulatory approval from the country's Financial Services Agency.
Rosenblum said there is no timetable as to when Coinbase would launch operations in Japan.
Coinbase last year raised $75 million from a slew of investors. The BTMU investment is an individual transaction and not part of any funding round, Rosenblum said.
Coinbase currently has two trading platforms, one for retail investors and one for institutions. Over the last four weeks, trading volume for the two platforms totaled around $400 million, according to Adam White, Coinbase's vice president for business development.
Since bitcoin's inception in 2009, it has grown in popularity and price. Late on Thursday, bitcoin traded at $621.74 on the Bitstamp platform. So far this year, the digital currency is up 44.2 percent.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Leslie Adler) || The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right.
But that isn’t the whole story.
Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play.
“I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650.
So, what are the factors that cause occasional bitcoin spikes?
The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin.
Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says.
Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.”
It's important to note that bitcoin has already been on an absolute tear this summer.
One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England.
Nonetheless, bitcoin people are excited.
"The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike.
Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour.
The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
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Coinbase is more bullish on bitcoin than ever || We could be set for a 'brave new world' of stock trading: Tron Legacy movie poster (Wikipedia) Wall Street is excited about Blockchain. Nasdaq CEO Bob Greifeld has said his company needs to be a "rapid applier" of the technology . Autonomous Research has called the technology a " game changer. " Goldman Sachs has said the use of blockchain technology in stock trading could result in $6 billion in industry cost savings globally . There's no shortage of hype, but widespread implementation is still a long way away in the highly regulated financial services industry. While the rest of Wall Street watches, the Australia Securities Exchange (ASX) is pioneering the attempt to implement blockchain technology in a large scale market. The exchange is looking at replacing its clearing and settlement system with a blockchain solution, and will make a decision on whether to go through with the change by mid-2017. "The securities industry is experimenting with blockchain across the post-trade market," Morgan Stanley said in a research note titled 'Blockchain - Is ASX set to shape a brave new world?' "Within equities, the most progressed of these is the ASX-planned replacement of the central depository (CSD) with a blockchain solution. If successful, the implications could be significant across the securities value chain." Blockchain uses computers with advanced encryption to keep track of transactions, and t he use of a blockchain solution in clearing and settlement has the potential to reduce costs, save time, and cut complexity. Goldman Sachs set out how this could work in a recent note. It said: Essentially, by enforcing agreement at the time of entry, blockchain could eliminate some of the most common post-trade issues and errors, such as incorrect settlement instructions or incorrect account/order details. Today, these details are confirmed/affirmed by multiple parties (DTCC, custodians, broker/dealer, clients) and multiple times throughout the life cycle of the trade. If blockchain could be fully implemented across these parties, many of these attributes could be included in a smart contract, thus becoming a pre-trade requirement to execute an order rather than a downstream, post-trade check that requires multiple parties to agree. Story continues The US bank said this would reduce duplications in affirming and reconciling trades, and help save the industry $6 billion globally. There are challenges however. The size and fragmented structure of stock markets in the US and European Union could slow the adoption of blockchain technology for example, according to Morgan Stanley. There are regulatory concerns too. This will only work on a large scale if global exchanges decide to follow suit and adopt the same standards. Without this, the market risks ending up with multiple systems with similar cost challenges as those faced today. That means the world will be watching what happens in Australia. "If the ASX "flicks the switch", this would increase the pace of innovation and disruption risk to the post-trade securities market,' Morgan Stanley said. NOW WATCH: This behavior could kill your chances in a Goldman Sachs interview More From Business Insider A 'game changer' technology on Wall Street could shake up stock trading THE BLOCKCHAIN REPORT: Why the technology behind Bitcoin is seeing widespread investment and early application across the finance industry A hot stock-trading startup is venturing into China || Winklevoss digital currency exchange expands to UK: By Gertrude Chavez-Dreyfuss NEW YORK, June 21 (Reuters) - Gemini Trust Co, the U.S.-based bitcoin exchange founded by investors Tyler and Cameron Winklevoss, on Tuesday opened trading in the UK, the second leg of an international expansion program. In an interview last Thursday, Gemini Chief Executive Officer Tyler Winklevoss said that for now, UK citizens would only be able to trade online currencies bitcoin and ether on the exchange. Ether is a token or digital asset of the Ethereum platform, a public blockchain. Trading bitcoin and ether against fiat currencies such as the dollar and sterling will start in a few weeks, Winklevoss said, adding that no regulatory approval was needed to operate in the UK for the services the company provides. "The UK FCA (Financial Conduct Authority) has made it clear that they're not regulating digital assets at the moment," said Winklevoss. "That said, the second that there's clarity that we have to file something, we will be the first company to file our paperwork." Two weeks ago, Gemini kicked off its international expansion by opening trading in Canada, where no regulatory approval was needed. Digital currencies have grown in popularity as investors view them as a separate asset class. Major financial institutions such as Goldman Sachs Group Inc and global technology companies such as International Business Machines Corp try to unlock the potential uses and applications of these assets' underlying technology, the blockchain. The blockchain is a database that enables a network of computers to validate, clear, settle, track, and record the ownership of assets as they are traded. Volume on Gemini, or the notional value of both bitcoin and ether traded on the platform, for the month of May was approximately $40 million, said Winklevoss. By the end of June, he sees volume further rising to between $50 million and $60 million. Bitcoin on Tuesday traded at $677.18 on the Bitstamp platform, with a market capitalization of $10.6 billion, according to crypto-currency data website coinmarketcap.com. Ether, the second-largest digital currency behind bitcoin, last changed hands at $12.27 and has a market capitalization of nearly $1 billion. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Phil Berlowitz) View comments || Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why: The price of bitcoin(: BTC=)has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.
Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013.
The initial rise in the price of the cryptocurrency came last week as traders prepared for aprocess known as "halving"– where the rewards offered to bitcoin miners fall, thus tightening the supply of the digital currency. With anticipation of less supply, prices spiked.
But sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day.
Bitcoin insiders said that because of the high leverage people trade the digital currency with, small issues in the market can cause big moves.
"The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff," Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday.
"Bitfinex's website went down and that was a catalyst for people pulling back, cutting positions, locking in gains. There is waterfall effect where then people are selling, selling, selling."
At the same time, bitcoin has received some safe-haven bids in recent weeks thanks to uncertainty about which way Britons would vote in the country's referendum on its membership of the European Union (EU), which began on Thursday morning.
But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin.
"I do think it's primarily macro things such as Brexit, you saw the price run up as you saw the opinion polls show leave was winning and as those polls reversed over the weekend, that's when we saw the price reverse" Tom Robinson, co-founder of blockchain start-up Elliptic, told CNBC by phone.
Conversely, the threat of a Brexit had an adverse effect on the Chinese yuan, which hit a five-year low last week, was also a reason cited by experts, given China accounts for the large amount of bitcoin trading.
"Brexit could be a major factor, but, since the lion's share of bitcoin trading activity occurs in and around China, it's unlikely that this is the primary cause. Although if you look at the bitcoin price among exchanges based in China they are $10-20 lower than the global exchanges, this might reflect the yuan's 5-year low and the expected yuan volatility as a result of Brexit," Aurélien Menant, CEO and co-founder, Gatecoin, a digital currency exchange, wrote in an email to CNBC.
Menant added that he expects the volatility "to settle down within the next couple of weeks".
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[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00001997 BTC
= 0.0115 USD
= 2.2885 NGN
= 0.1734 ZAR
= 1.1624 KES
#Kobocoin 2016-06-10 16:00 pic.twitter.com/LAph0LOVIg || Bitstamp: $572.26/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 594.44, low: 563.00) #bitcoin #BTC http://bitcoinautotrade.com || 1 #BTC (#Bitcoin) quotes:
$468.71/$469.62 #Bitstamp
$465.99/$467.00 #BTCe
⇢$-3.63/$-1.71
$469.54/$470.30 #Coinbase
⇢$-0.08/$1.59 || #573 ImperialCoin BTC:฿0.00 USD:$0.00000162 Market Cap:$ 255.1540422 Supply:157,865,000 IPC http://dlvr.it/LfxWDF || $ 0.004501 (0.03 %) 0.00000695 BTC (-0.00 %) #WHIPPED #FETISH #BDSM || #bitcoin #currency Drug Sales and Bitcoin Usage On Dark Net Increase - newsBTC: newsBTCDrug Sales and... http://bit.ly/291h6u0 #mining || $669.60 at 15:00 UTC [24h Range: $659.71 - $684.10 Volume: 6414 BTC] || 1 BTC
$ 448.77
£ 305.00
€ 401.29
http://btcrate.org || #BTA Price: Bittrex 0.00001080 BTC YoBit 0.00001014 BTC Bleutrade 0.00001222 BTC #BTAprice 2016-06-07 11:00 pic.twitter.com/ItK8O8WSvb || #BTC El precio actual del Bitcoin es de 572.00$ http://bit.ly/1gElIGT
|
Trend: down || Prices: 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-03-22]
BTC Price: 1049.14, BTC RSI: 42.94
Gold Price: 1249.30, Gold RSI: 64.84
Oil Price: 48.04, Oil RSI: 34.18
[Random Sample of News (last 60 days)]
Investors chained to bitcoin bets as U.S. ETF decision looms: By Gertrude Chavez-Dreyfuss and Trevor Hunnicutt NEW YORK (Reuters) - Investors are betting market regulators will approve what would be the first U.S. exchange-traded fund to track the price of bitcoin. From investment funds to wealthy individuals and even a Las Vegas strip club, the bitcoin ETF is generating a lot of buzz for a financial product. The surge in interest in the digital currency is driving upbeat outlooks from several gauges of investor sentiment on the proposed fund. Investors Cameron and Tyler Winklevoss have an application with the U.S. Securities and Exchange Commission for the digital currency ETF, which was filed nearly four years ago. The twins are expected to receive by March 13 the final decision on whether they can list their ETF on the Bats Exchange. "We have spoken to a number of our investors, particularly from the U.S., who have indicated to us that they have been buying bitcoin," said Daniel Masters, portfolio manager of Global Advisors Bitcoin Investment Fund Plc. "They think the Winklevoss ETF and other bitcoin ETF listings will succeed." If the SEC approves the listing, it would lend legitimacy to an asset that has been the province of enthusiasts and lay speculators. It could pave the way for other ETF listings and unleash the flow of institutional money. The Legends Room, a Las Vegas strip club where bitcoin is accepted as payment for all services, is hardly institutional money, but it has been following the Winklevoss ETF. "We are already supporters and expect to be investors as well," said Legends Room founder Nick Blomgren. "Good opportunities to expand the market for digital currency are rare but they are possible." So far this year, bitcoin has surged more than 20 percent, largely due to speculation about the Winklevoss ETF, hitting a record high near $1,300 last Friday (BTC=BTSP). On Wednesday, however, it dropped below $1,200. Spencer Bogart, head of research at Blockchain Capital, said at least $300 million could flow into the fund in the first week of trading if the Bitcoin ETF gets approved. Story continues WHAT ARE THE ODDS? A contract created by Bitcoin Mercantile Exchange, a cryptocurrency derivatives trading platform, to bet on the SEC's decision showed a 50 percent probability of approval on Tuesday, said BitMEX's chief executive, Arthur Hayes, compared to 34 percent late last month. Another metric gauging investor sentiment on the bitcoin ETF ruling is GBTC, the Bitcoin Investment Trust (GBTC.PK) backed by Grayscale Investments LLC, which does not trade on public exchanges. Historically, GBTC has traded at an average of between a 30-40 percent premium to its officially calculated value. The consensus is that the premium on GBTC shrinks if investors believe the bitcoin ETF will be approved by the SEC because they expect a better product to replace it. GBTC premiums have dropped since the beginning of the year, Grayscale data showed. By February, the premium shrunk to single digits. Late on Monday, however, the premium has recovered modestly to 16.44 percent. But strong interest has not convinced investors such as Michael Venuto, chief investment officer at Toroso Investments LLC, which holds bitcoin investments in some client portfolios. "This could pop the market and I don't want to be anywhere near it," Venuto said of the ETF. "If you're going to buy this, it's a long-term thing and speculating is a bad idea." (Reporting by Gertrude Chavez-Dreyfuss and Trevor Hunnicutt; Editing by Megan Davies and Leslie Adler) || Bitcoin is surging – but that might not mean what you think: Bitcoin(Exchange: BTC=-USS)– the volatile digital currency that is used for a bevy of transaction, investment and value-storing purposes – is hovering around all-time highs, and its value has surged 175 percent in the past year.
But even though bitcoin is rising alongside gold, and it is often seen as an alternative "safe haven asset," this rally may actually be confirming the rally in stocks, rather than presenting a warning sign.
The currency has become more mainstream as additional companies accept bitcoin as a form of payment, Miller Tabak equity strategist Matt Maley said Wednesday on "Trading Nation." According to this thinking, demand for bitcoin will rise as economic activity increases.
Bitcoin was created in 2009 in the midst of the financial crisis as a brand-new currency and payment network, and remains somewhat in the Wild West of currencies, without universal regulation, no central authority and tracked by ledger-like blockchain technology maintained by different firms.
Companiesfrom MicrosofttoSubwayto popular blog platformWordPressnow accept bitcoin as a form of payment.
More recently, Switzerland's financial regulatory authoritygranted a bitcoin firm approvalto operate, Reuters reported, andin late 2016JPMorgan was reported to have been working on its own type of blockchain technology to support bitcoin. Perhaps boosting bitcoin activity, too, is the prospect of bitcoinexchange-traded fund creationand bitcoin storage providers.
In the past, bitcoin rallies have frequently been seen as signs that investors are turning away from conventional assets, and hunting for places to stash their money. But as bitcoin has developed more "mainstream" business uses, Maley argued, it has become more correlated with equities.
A look at bitcoin's performance relative to the S&P 500(INDEX: .SPX)'s over the last five years does not show any particularly close mathematical relationship between the two.
Nobel laureate and economist Joseph Stiglitzsaid in Januaryat the annual World Economic Forum meeting in Davos, Switzerland, that the United States moving toward digital currency would have meaningful benefits like curbing corruption and increasing transparency in global financial markets, two themes from this most recent meeting.
"There are important issues of privacy, cybersecurity, but it would certainly have big advantages," he said.
Bitcoin is not fiat currency, with no backing from a government that issues it, and the space is volatile given its lack of regulation. This month alone, bitcoin has risen 25 percent after dipping nearly 5 percent in January. It has climbed nearly 22,000 percent in five years while the dollar is up 28 percent in the same time period.
"The big fear around bitcoin is just one day when the governments come out and say, 'We're no longer going to allow this,' and we're going to shut it down. But in a world of Armageddon, where the world ends, currencies will go by the way of the countries; bitcoin, like gold, will still have value because of the blockchain-ing that goes on behind it," Dennis Davitt, portfolio manager at Harvest Volatility Management, said Wednesday on "Trading Nation."
The digital currency has a ways to go before becoming a full-on "mainstream" currency, but it's very much a real system of payment, Nicholas Colas, chief market strategist at Convergex, told CNBC on Wednesday. Given bitcoin's volatility, every time investors buy the currency at new highs, "you kind of want to hold your nose," Colas said, given its volatile nature and all the hills and valleys that come along with it.
Mt. Gox, a Tokyo-based digital currency exchange,went bankrupt in 2014after substantial losses in the bitcoin space, sending the value of bitcoin tanking.
— CNBC's Alex Rosenberg contributed reporting. || Only 802 People Told the IRS About Bitcoin—Lawsuit: The Internal Revenue Service revealed new details about itsinvestigationinto tax evasion related to bitcoin, filing court documents that suggest only a tiny percentage of virtual currency owners are reporting profits or losses in their annual returns.
The new documents, filed Thursday in San Francisco federal court, come in the midst of a closely-watched legal fight between the IRS and Coinbase, a popular service for buying and selling bitcoins that hosts over a million customer accounts.
The dispute began last year when the IRS issued a sweepingsummonsfor Coinbase to turn over a vast amount of customer data, including every customer account as well as detailed transaction records.
Coinbase claimed the IRS demands are illegally broad and refused to comply, which in turn led the IRS to file a federal lawsuit last week to enforce the summons.
Jurors Weigh Charges Against a Pastor and Software Engineer in Bitcoin Trial
While the lawsuit did not come as a surprise, a newaffidavitfrom IRS agent David Utzke reveals additional information about how the agency is conducting the investigation. Specifically, Utzke explains he ran a computer analysis against the IRS’s repository of hundreds of millions of tax records, and found fewer than a thousand people filed a Form 8949 to account for a “property description likely related to bitcoin.”
Form 8949 is used to report capital losses and capital gains and, under current IRS rules, would require bitcoin owners to declare their profits. In some cases, the profit could be significant given the virtual currency soared from $13 to over $1,100 during the three year period (2013-2015) for which the agency is seeking information.
Here is a paragraph from Utzke’s affidavit that states only 802 individuals filed a bitcoin-related Form 8949 in 2015(emphasis mine):
The IRS searched the MTRDB for Form 8949 data for tax years 2013 through 2015. I received the results of those searches. Those results reflect thatin 2013, 807 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; in 2014, 893 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; and in 2015, 802 individuals reported a transactionon Form 8949 using a property description likely related to bitcoin.
It’s impossible to know what percentage of Coinbase customers these numbers represent, but it’s likely only a small fraction. Even though some Coinbase accounts belong to non-U.S. citizens, and many others did not have any transactions (and therefore did not trigger any capital gains), it’s possible an IRS review of the accounts could identify hundreds of thousands of individuals who should have declared bitcoin income.
In a Fridayblog post, Coinbase said it has yet to turn over any information, and that it would push back against the scope of the summons.
“Coinbase remains concerned with the indiscriminate and over broad scope of the government's summons and we have produced no records under the summons,” wrote Coinbase lawyer, Juan Suarez.
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The company has previously described the IRS probe as unreasonable, noting the agency would not approach other financial institutions like JP Morgan or and demand every single of their customer records.
In January, Coinbase CEO Brian Armstrong complained the legal fight could cost his company up to $1 million, and that he would prefer to spend the money hiring employees. Armstrong at the time also offered an olive branch to the IRS, saying Coinbase is ready to provide customers with 1099-B forms, which are used by brokerages and others to help customers report their taxes.
Following news of the IRS tax probe, onevirtual currency lawyer saidthe agency’s demand simply represented an opening gambit for negotiations--and that it that would end with Coinbase providing a far more narrow set of information.
A person close to Coinbase, who was not authorized to speak for attribution, confirmed toFortunethe company and the IRS have been in talks, but also expressed surprise the agency has so far refused to narrow its demands.
A spokesperson for the IRS said the agency cannot comment on specific investigations.
The upshot of all this is that many Coinbase customers are likely to feel uneasy since the investigation could eventually lead them to owe back taxes or penalties, or even see the IRS seize their accounts.
Bitcoin Prepares For an Ugly Breakup
Meanwhile, Coinbase isn’t the only one taking issue with the IRS’s bitcoin stance. A Los Angeles law firm, Berns Weiss,sued the IRS last year, complaining the agency’s summons swept up one of the firm’s partners, Jeffrey Berns, who held bitcoin at Coinbase, but had never sold it. The firm had to drop the lawsuit after the IRS told Berns he would not be a target of the investigation--but has since vowed to resume the legal battle.
“We will, however, continue our efforts to protect the rights of Coinbase customers regarding this patently overbroad summons. Thus, we plan to file a motion to intervene in the enforcement proceeding on behalf of other Coinbase customers who have contacted us and expressed their interest in fighting the summons,” saidthe firmin a statement.
Finally, it’s unclear if the IRS is also targeting other virtual currency operators. While Coinbase is the most popular and mainstream bitcoin platform, there are numerous others. Meanwhile, thegrowing value of other virtual currencies, including Ethereum, mean firms that offer such currencies could soon find themselves in the cross-hairs of the IRS too.
An earlier version of this story incorrectly referred to the IRS form on one occassion as Form 8948 not 8949. It has been updated.
See original article on Fortune.com
More from Fortune.com
• Why Coinbase's Cofounder Is Moving On
• New York Warms Up to This Bitcoin Exchange With New License
• Bitcoin Battle Heats Up as Coinbase Moves to Fight IRS Demand
• Legal Sparring Continues in Bitcoin User's Battle with IRS Tax Sweep
• Customer Sues IRS to Halt Probe of Coinbase Bitcoin Accounts || Hackers Hijack Hotels Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement to Bleeping Computer , the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet , Fortune 's technology newsletter. According to the Austrian Broadcasting Corporation (ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly secured webcams and DVRs that powered widespread denial of service attacks in October, and, at least in theory, hackable connected cars . The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. Story continues See original article on Fortune.com More from Fortune.com Forecasting Yahoo's Foggy Fate Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC || Bitcoin drops by $100 as China's central bank corrals the market: Chinesebitcoinexchanges have disabled withdrawals of the cryptocurrency after meeting with the People's Bank of China, indicating the central bank has stepped up its efforts to regulate the market.
Throughout January, the PBoC made announcements that it was looking into bitcoin, including setting up a task force to carry out inspections and ensure bitcoin exchanges had implemented anti-money laundering systems.
Then on Thursday, the central bank announced it had met with nine exchanges to warn them they would be closed if they violated regulations. This prompted the three main Chinese bitcoin exchanges, BTCC, Houbi and OKCoin to temporarily disable bitcoin withdrawal (users can deposit and withdraw yuan but not bitcoins) for the next 30 days, while they improve their anti-money laundering systems and customer identification measures.
The news caused the price for bitcoin to drop sharply on Thursday, from near a one-month high of around $1063 to as low as $954. Bitcoin prices recovered marginally, and are currently trading around $964.
Despite the hit to prices, bitcoin analysts believe the move by the PBoC will be healthy for the market.
"The PBoC moves to regulate Bitcoin more stringently will bring short term woes but will ultimately strengthen the ecosystem," Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare, told CNBC via email.
The moves by the PBoC and the improved systems will add respectability and rigor to the bitcoin market, according to Hayter.
These measures, along with the introduction of standard trading fees by Chinese exchanges, should also slow down the volume of bitcoin trading across China, which had become a cause for concern.
According to CryptoCompare data, trading volumes on Chinese exchanges have fallen from 10 million bitcoins per day to a range of 30,000 to 90,000. Bitcoin-yuan trades made up 98 percent of market share, but this is now around 26 percent, behind bitcoin-dollar and bitcoin-yen pairs.
"This has been a long time coming and many in the industry view these developments as a positive clean up. We already see liquidity resettling in other trading pairs like BTC/JPY(Exchange: BTCJPY=)& BTC/USD(Exchange: BTC=-USS)," Fran Strajnar, co-founder & CEO of data and research company Brave New Coin, told CNBC via email.
"These marketplace changes will inevitably slow nefarious activity and open channels to more and more institutional investors. In my opinion the 'PBoC cleanup' is the best thing that could have happened to bitcoin this year."
Other central banks may now be considering how to regulate bitcoin activity.
"I think all governments are trying to figure out how they can adjust laws and regulations to this new field, allowing them to get the benefit of the technology while at the same time curbing any usage for illicit purposes," Linus Lindgren, strategic investor and advisor at BTCXIndia, told CNBC via email.
"My recommendation to any regulator wondering how to go ahead with this would be to involve the industry and work together to reach common goals."
Follow CNBC International onTwitterandFacebook. || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin had become an attractive, if niche, option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || Bitcoin dives below $1,000: Bitcoinis back below $1,000. Overnight selling has pushed the cryptocurrency down 1.10%, or $11, to $989 a coin, and below the psychologically important level for the first time since February 3 as sellers remain in control following the decision by some of China's largest exchanges toblock withdrawals.
Last Thursday, following a meeting with the People's Bank of China,HuobiandOK Coinannounced customers would be blocked from withdrawing their bitcoins.
The announcement comes following a wild start to 2017 for bitcoin. It rallied more than 20% in the opening week of the year before crashing 35% on fears China would crack down on trading.
Last week's announcement wasn't the first action China's exchanges have taken this year to curb trading. Earlier, they announced they would begincharging a flat feeof 0.2% per transaction.
(Markets Insider)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
More From Business Insider
• Bitcoin dropped sharply and suddenly on more news out of China
• Bitcoin is zooming higher
• DEUTSCHE BANK: Trump could name China a 'currency manipulator' in the coming weeks || Bitcoin is now more valuable than gold, but don’t read too much into it: The price of bitcoin(Exchange: BTC=-USS)continues to rise, setting a fresh record high. The price for one bitcoin is now worth more than one ounce of gold(Exchange: XAU=), but this is less significant than it may seem, say experts.
Gold and bitcoin prices crossed overnight. The crypto currency has set a fresh record high of $1,290.13, while a gold ounce currently trades around $1,228.
Part of the reason for the switch is that gold has had a rough week. The price for the precious metal has fallen more than 2 percent this week, due to the strengthening dollar and several indications from members of the Federal Reserve hinting towards a potential interest rate hike in March.
Meanwhile, the price for the digital currency is up more than 7 percent this week. A recentregulatory clamp down by the People's Bank of Chinahas proven beneficial for bitcoin. Speculation around an imminent decision by the U.S. Securities and Exchange Commission on whether it will approve a bitcoin-based ETF (exchange traded fund) has also created heavy buying pressure.
Looking more broadly, bitcoin has enjoyed a stellar recovery over the past 12 months, climbing more than 214 percent from a low level of $407.98 last March.
In contrast, the price for gold has fallen 1 percent over the past 12 months. Gold prices fell heavily following the result of the U.S. election, but have been recovering steadily since mid-December.
However, while bitcoin prices are climbing, the digital currency has a much lower market cap compared to gold, highlights Fran Strajnar, co-founder & CEO of data and research company Brave New Coin.
"The gold supply is 180,000 tonnes of 'above ground' gold, valued at $7 trillion. The bitcoin market value is $20 billion, so gold vs bitcoin is psychological more than anything," he told CNBC via email.
"The comparison is perhaps a positive signal that bitcoin is being commoditized. But bitcoin is not a commodity, while gold has been a commodity for thousands of years."
The price movement is less significant than it may seem, says Adrian Ash, head of research at Bullion Vault.
"Price is just a number, and overtaking one ounce of gold doesn't in itself mean much. More important is that bitcoin is making new highs. That signals both a growing appetite for alternative assets and also that crypto currency is finding new, perhaps unwary, buyers," he told CNBC via email.
Charles Hayter, founder of digital currency comparison website CryptoCompare, said there is ultimately no significance behind bitcoin prices being higher than gold prices.
"Bitcoin has been linked to gold as a store of value and a flight to safety - the truth is that bitcoin is its own asset class in its own right and does fairly well in times of uncertainty - however it is also subject to its own internal forces too, such as its governance or lack of to be more accurate," he told CNBC via email.
Also, bitcoin prices could be set for a shock if the SEC does not approve a bitcoin ETF. Strajnar predicts it is unlikely to pass.
"This is for a few reasons but mainly because no ETF in the US has the issuer also act as custodian and index provider all in one. We assume this application is still viewed as a qualitative risk to investors by the SEC (Securities & Exchange Commission)," he said.
"If the ETF is not approved we expect a correction and consolidation period but growing adoption and the deflationary supply of bitcoin suggests a continued uptrend in the medium term."
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• Google Assistant fights back against Amazon Alexa as battle of voice AI heats up || Emerging Markets Report: Betting on a BitCoin Run: ORLANDO, FL / ACCESSWIRE / March 14, 2017 / On March 3, 2017 a single BitCoin hit an all-time high, with the digital currency trading for as much as $1,283. The rise was driven, at least in part, by speculation that the Securities and Exchange Commission (SEC) was considering the approval of the first BitCoin-based ETF. Factor in that the leading proponents of the BitCoin based ETF were the Winkelvoss twins of Facebook fame and it is clear that the BitCoin world is in a very different place than it was just a few years ago. This could bode well for companies which have tethered their business to BitCoin and other global digital currencies. Enter Digatrade ( DIGAF ) , a fully-reporting public company on the OTCQB that provides a proprietary global digital asset exchange that includes BitCoin and other others. Digatrade is indeed a pure digital currency play with a mantra of "digitizing finance one bit at a time." The Company is owned and operated by Digatrade Financial Corp, a company with headquarters in Vancouver, Canada. The proprietary Digatrade trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the world's largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management fully powered by ANX Technologies. Digatrade offers an easy, secure, and affordable platform to buy and sell Bitcoin and other digital assets. Digatrade offers a 24 hour online platform that provides the automated matching of orders between its registered members and it strives to be your Bitcoin connection by making the experience as effortless as possible. It is Digatrade's mission to promote a healthy eco-system by providing value-added Bitcoin exchange services to the public. Digatrade is also lowering the barriers to Bitcoin and other digital asset adoption by increasing ways for consumers to acquire and access digital assets. Story continues The Digatrade user interface is focused on simplicity yet provides its' users with all the details they expect when buying and selling Bitcoin. Our designers regularly hold focus groups with the public to obtain feedback on their user experience and preferred user interface. Ease of use and simplicity are the number one priority. If you're looking for confusing menus or complicated navigation then you've come to the wrong place! Security is the cornerstone of Digatrade and the Digatrade team. Every element of our operation has been methodically designed for optimum security. This includes all factors including physical intrusion, exhaustive vetting and background checking of staff members, the cold storage of coins and manual (yet efficient) processing of all withdrawal requests, and dedicated awareness of recurring security threats such as social engineering, phishing, and remote zero day exploits to name only a few. For more information on DIGATRADE visit digatrade.com . About the Emerging Markets Report: Emerging Markets Report is owned and operated by Emerging Markets Consulting, a syndicate of investor relations consultants representing years of experience. Our network consists of stock brokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets. For more informative reports such as this, please sign up at http://www.emergingmarketsllc.com/newsletter.php Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below. We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC has been paid 50,000 dollars by Marzany Inc. for preparation and distribution of this report and other media services. Emerging Markets Consulting, LLC Florida Office 15701 State Road 50, Suite #205 Clermont, FL 34711 E-mail: [email protected] Web: www.emergingmarketsllc.com SOURCE: Emerging Markets Report || Alternative cryptocurrency ether has done something only bitcoin has managed to do: A cryptocurrency called ether hit an all-time high on Monday, prompting its market capitalization to exceed $2 billion, a feat only bitcoin(Exchange:BTC=-USS)has managed to achieve in the digital currency world.
Ether runs on an underlying technology called Ethereum, which is a different blockchain to the one that powers bitcoin. Each blockchain – or decentralized ledger – has their own property, but arecent rally in bitcoinhas prompted traders tolook at other cryptocurrenciesto invest in.
The price of one ether was $28.26 at the time of publication, but hit a high of just over $30 on Monday, according to price tracking website CryptoCompare. This marks a roughly 20 percent rise in price from just a week ago on March 6. In that period, the market cap of Ethereum has risen from $1.8 billion to more than $2.57 billion.
One major reason for the rally in ether is traction among big corporates for the underlying technology Ethereum. An organization called the Enterprise Ethereum Alliance was recently set up to connect large companies to technology vendors in order to work on projects using the blockchain. Companies involved in the launch include JPMorgan(JPM), Microsoft(MSFT)and Intel(INTC). This has added legitimacy to the cryptocurrency but also requires ether to be transferred and stored in order to access applications using Ethereum, according to Aurélien Menant, founder and CEO of Gatecoin, a blockchain assets exchange based in Hong Kong.
"This provides more reason to value ether at a higher price than its recent levels," Menant told CNBC via email on Tuesday.
Alternative digital currency bitcoin in comparison has a market capitalization of over $20 billion and one bitcoin is worth $1,235.83 at the time of publication. But it has been around for longer and has had a chance to mature. But ether is the only cryptocurrency other than bitcoin that has managed to hit a $2 billion market cap. In comparison, alternative digital currency Dash has a market capitalization of $556.9 million, while Monero is worth $248 million, according to price tracking website Coinmarketcap.com.
Some experts have suggested that bitcoincould hit $3,000 this yearbut the market was watching a key decision last week which did not go the way traders wanted. The U.S. Securities and Exchange Commission on Fridayrejected a requestby Cameron and Tyler Winklevoss to list a bitcoin exchange-traded fund on the market. It would have been the first product of its kind and brought more investors into the bitcoin market.
This caused a plunge in the bitcoin price on Friday when the decision was announced but it has slowly recovered. Bitcoin is still off its all-time of over $1,300, which was reached ahead of the SEC decision. The bitcoin rally however, has also supported ether.
"With the recent bull run on bitcoin due to the anticipation of the SEC decision on the bitcoin ETF, traders had more bitcoin purchasing power that they could use to exchange for other blockchain assets such as ether. With the ETF rejection, ether benefitted from this liquidity spillover, as traders saw more value in exchanging bitcoin for another cryptocurrency, with long-term promise, rather than fiat," Menant said.
[Random Sample of Social Media Buzz (last 60 days)]
2017-03-08 06:00
1 BTC son: 6.531.798Gs. #btc #gs #pyg #bitcoin #paraguay #guaranies || #cbdoil #hempoil #colorado ICYMI In Washington State: The Hazy Future of BitCoin and Marijuana http://ow.ly/4Zdo509ByTo || Nuevo sitio grifo btc muy parecido a bonus bitcoin tambien tiene para jugar a los dados link de registro --->... http://fb.me/8x9tTLcgZ || “Police Friendly” Coinbase Used to Sell Bitcoin Seized in Investigations http://ift.tt/2l0sLyb || HI-YO SILVER AWAY! 2500 #FREEROLL
Ends Feb.1 @ #midnight
Entry
Game #Ramses #Riches
#Top50 #PrizePool
http://bit.ly/2kEb30w
#bitcoin pic.twitter.com/9eMxyKuMIZ || 基本的に名前を名乗らない方からのメッセージや
勧誘はお断りしています。
礼儀のない人と思われますのでみなさんも名前の書いていない人のツイートには十分注意してください。
自分のことしか考えていない人の特徴の一つとして話題となっています。
#ビットコイン #bitcoin || Current value of DOGE in BTC: BTER: 0.00000019 -- Volume: 5358534.697 Today's trend: down at 02/21/17 00:55 || Have you or anyone you know invested in BitCoin? If not would you like too!?!?!?!? If so let me know and let's talk. || Теперь Я Знаю → Самые интересные факты и необъяснимые явления: / https://www.youtube.com/channel/U .. https://vk.cc/6fK1Rw || what is a reasonable rate of return on investments, bitcoin double multiply. http://ow.ly/VuqB3092Wna
|
Trend: up || Prices: 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-04-21]
BTC Price: 40527.36, BTC RSI: 43.48
Gold Price: 1944.90, Gold RSI: 50.29
Oil Price: 103.79, Oil RSI: 51.20
[Random Sample of News (last 60 days)]
Here are two delicious and healthy potato based recipes: Potatoes are a versatile and main ingredient in many recipes , but in the spirit of sustainability , you can stretch your spuds further than their meaty insides. On this episode of In The Know: Zero Waste Kitchen , chef Adriana Urbina ( @adrianaurbinap ) shares how to maximize the potato with her recipes for yucca and potato latkes with ají amarillo sauce, and delicious crispy spiced potato peel chips that use leftover potato skins. Ingredients Yucca and Potato Latkes (Serves 4) 1/2 sweet white onion (peeled and cut into pieces) 1 medium sized potato, peeled and cut into 2 inch pieces (reserve the peels for the potato peel chips) 1/4 cup tapioca flour (or regular flour) 3 tbsp freshly grated Parmesan cheese Small bunch of fresh cilantro 2 tbsp olive oil 3 medium-sized yucca (peeled and cut into 2 inch pieces) Salt and pepper (to taste) Canola oil (for frying) Water (to help thin consistency if needed) 2 tbsp of hemp seeds (optional) Ají Amarillo Sauce 2 tbsp ají amarillo paste 3 tbsp freshly grated Parmesan cheese (optional) Small bunch of fresh cilantro with stems removed 1/2 lime zested and juiced 2 tbsp olive oil Water (to help thin consistency if needed) 1 tsp of salt (more if needed) Spiced Potato Peel Chips Potato peels from 4-5 large potatoes (Clean and dried) 1-2 tsp of oil 1/8 tsp of smoked paprika 1/8 tsp of garlic powder 1/8 tsp of salt Directions Yucca and Potato Latkes with Ají Amarillo sauce To make the latkes, shred the yucca, onion and potato using a food processor with a small shredding blade, and then place the shreds in a bowl. Use a clean kitchen towel to squeeze out any excess moisture from the shreds. The dryer the veggies, the crispier the latkes! Then add the flour, salt, cilantro, and optional hemp seeds, and mix well. Add about 1/2 inch of canola oil in a large frying pan and bring it up to about 360 degrees Fahrenheit. Test oil for temperature by placing a small piece of the latke mixture in the oil. If it sizzles, it’s ready. Use a tablespoon to form the latkes, and fry them for about 3-4 minutes or until golden brown and crispy. Flip over and fry them on the other side. When done, reserve on a paper towel lined baking sheet and sprinkle with salt while they’re hot. To make the ají sauce, add all sauce ingredients to a bowl and mix. You could also use a food processor and blend until smooth. Taste for desired seasoning, and slowly add water for desired consistency. Should be creamy with a bit of heat. Story continues Spiced Potato Peel Chips Rinse the potato skins very well, make sure to soak them in water (changing the water) for several minutes until the water comes out clear. Once clean, dry the potato skins with a paper towel. Put the potato skins in a bowl and mix them with the garlic powder and paprika. Fry your potato skins in a pot of heated canola oil. Do this in small batches to avoid overcrowding the pot. Once the potato skins are golden brown, remove them from the oil and place them on a paper towel-lined baking sheet and sprinkle with salt. The post Here are two delicious and healthy potato based recipes appeared first on In The Know . More from In The Know: Bitcoin ETFs: What are they and how to invest in them? 11 ways women can shrink the gender pay gap to better achieve their financial goals 'We don't need this, we don't want this': Celebrities keep launching beauty brands but don't address existing issues, expert argues Shoppers say this $12 best-selling carpet spot cleaner 'makes stains vanish before your eyes' || BitNile Aims to Become a Top 10 North American Miner With 300MW Deal: Las Vegas-based bitcoin miner BitNile (NILE) plans to boost the power capacity of its Michigan plant to 300 megawatts, and has signed purchase agreements with BitMain Technologies for more than 18,000 mining rigs.
• The process is expected to take about 18-24 months, and would expand the company’s mining capacity to 12 exahash per second (EH/s), or an annualized bitcoin (BTC) production capacity of about 19,600. This would make BitNile one of the top 10 publicly traded North American miners,said the company.
• BitNile already has about 2,160 Bitmain S19j Pro Antminers at work at the data center, has 300 more in transit and has purchase agreements for another 18,140, with monthly deliveries to begin in December.
• The accompanying power expansion is part of the company’s multi-year agreement with a nuclear energy plant. BitNile expects about 85% of power will come via emission-free sources.
• “The planned expansion of the power capacity at the Facility to 300MW over the next 18 to 24 months would, if achieved, enable BitNile to grow its existing partnership with Bitmain while potentially attracting other strategic joint-venture partners,” said the company’s founder and executive chairman, Milton Ault, III.
• Shares of BitNile are up 2% on Monday morning, but remain lower by more than 30% year to date. The market cap stands just shy of $70 million. || Market Wrap: Cryptos Pull Back, Traders Eye Opportunities in Ether Versus Bitcoin: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) retreated from a high of $47,431 on Monday as bullish sentiment waned.
Some alternative cryptocurrencies (altcoins) such as Solana'sSOLand Polkadot'sDOTtoken declined by as much as 6% over the past 24 hours.
Meanwhile, WAVES fell by 25% after USDN, an algorithmic stablecoin of the Waves ecosystem, lost its U.S. dollar peg. Last week, several people on Twitteraccusedthe Waves team of manipulating the price of its native token through itsdecentralized finance(DeFi) lending platformVires.finance.
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Despite the current pullback, some analysts remain optimistic about bitcoin's future price direction, pointing to improving blockchain data.
"BTC is flowing out of exchanges at a rate of over 96,000 BTC per month, which means strong accumulation is taking place," Glassnode, a crypto data provider, wrote in ablog poston Monday. Both small and large-size holders have been accumulating bitcoin, especially after the Luna Foundation Guard (LFG) purchased more than 30,000 BTC over the past week (track LFG reserve purchaseshere).
Still, the rise in BTC demand will need to be sustained to support the price recovery. "A breakout of the200-day moving averageis required to confirm bullish sentiment," Alex Kuptsikevich, an analyst atFxPro, wrote in an email. "Breaking out of the $45K-48K range could signal the start of a broader trend in the direction of the breakout."
●Bitcoin(BTC): $45,907,−1.10%
●Ether(ETH): $3,488,+0.12%
●S&P 500 daily close: $4,583,+0.81%
●Gold: $1,935 per troy ounce,+0.83%
●Ten-year Treasury yield daily close: 2.41%
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Bitcoin's trading volume across spot exchanges ticked lower over the past few days, according to CoinDesk data. There has been a persistent decline in trading activity since the Feb. 24 price dip toward $34,500, indicating some uncertainty among market participants despite the recent price rally.
Similarly, volatility in the bitcoin options market is also trending lower, while some traders have positioned themselves for a bullish run in the spot price.
"Our conviction view now is to be short volatility as macroeconomic factors place pressure on markets while the LFG [buying] supports the market,"QCP Capital, a Singapore-based crypto trading firm, wrote in a Telegram announcement. "We think crypto prices will grind higher toward the second half of the year and any dip will be met with confident buying."
Ether, the world's second-largest cryptocurrency by market cap, is up by 28% over the past month, compared with a 14% rise in bitcoin.
Further, ETH'sput/call ratiosignificantly increased at the end of March, which means traders began to sell farout-of-the-moneydownside protection. The more negativeskewin ETH presents an opportunity for some traders, according to Gregoire Magadini, CEO ofGenesis Volatility.
"The seven-day option skew is about -8 points, while BTC is only -4 points, despite the overall at-the-month implied volatility spread between ETH and BTC being rather close," Magadini wrote in a message to CoinDesk. "For those looking to buy volatility, this means the short-term ETH calls are very cheap compared with similar BTC calls."
This chart shows the ETH/BTC price ratio, which is approaching initial resistance at 0.076. The ratio is overbought on the daily chart, which typically precedes a brief pullback. The next major resistance level is at 0.082, which is roughly 8% away.
• Thousands of ether from Ronin exploit moved to Tornado Cash:The exploiter behind Ronin’sunprecedented $625 million bridge attackfrom last week apparentlymoved 1,400 ethers (ETH) to privacy tool Tornado Cash on Monday morning during the Asia trading day, and then the remaining 600 ETH during the European trading day, on-chain data connected to the exploit’s addresses show. Read morehere.
• Pudgy Penguins NFT collection’s $2.5 million sale:ThePudgy Penguinsnon-fungible token (NFT) project is under new leadership after the close of a long-awaited 750 ETH ($2.5 million) sale. A group led by Pudgy Penguins holder and Los Angeles-based entrepreneurLuca Netzwill buy control of the project, along with royalties, from the original four co-founders of the project, according to people involved with the deal. Read morehere.
• DeFi lender Inverse Finance exploited for $15.6 million:Ethereum-based lending platform Inverse Finance (INV) said Saturday it suffered an exploit, with an attacker netting $15.6 million worth of stolen cryptocurrency. According to Inverse, the attacker targeted its Anchor (ANC) money market – artificially manipulating token prices to borrow loans against extremely low collateral. This is the third multimillion-dollar hack of adecentralized finance(DeFi) platform that made headlines last week. Read morehere.
• Post-Merge Ether Will Be a Commodity-Linked Bond, Could Rally to $10K, BitMEX Founder Says: The post-Merge bond-like appeal and ESG-compliant label would make ether more attractive than other layer 1 cryptocurrencies, according to BitMEX founder Arthur Hayes.
• Dogecoin Spikes 10% After News of Musk's $3B Stake in Twitter: The prices of some other meme coins rose in tandem.
• Waves' USDN Stablecoin Loses Peg, Drops 15% Amid Manipulation Scare: USDN's market capitalization had nearly doubled to $850 million in March.
• Frax Finance’s FXS Jumps as Terra Introduces Stablecoin Pool ‘4pool’: Liquidity from four major protocols would be used to make Curve’s 4pool attractive for users.
• Intel Doubles Down on ESG With Launch of Second-Gen Bitcoin Mining Chips: The “Intel Blockscale ASIC” chip boasts efficiency up to 26 J/TH, which would make it better than most Bitmain and MicroBT models now on the market.
Digital assets in the CoinDesk 20 ended the day lower.
[{"Asset": "Cardano", "Ticker": "ADA", "Returns": "+0.8%", "Sector": "Smart Contract Platform"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+0.1%", "Sector": "Smart Contract Platform"}]
[{"Asset": "Algorand", "Ticker": "ALGO", "Returns": "\u22124.5%", "Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\u22124.0%", "Sector": "Computing"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "\u22123.8%", "Sector": "Smart Contract Platform"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. TheCoinDesk 20is a ranking of the largest digital assets by volume on trusted exchanges. || Bitcoin Rises Above $42K; Resistance at $46K-$50K: Bitcoin (BTC) is holdingsupportabove $40,000 as short-term momentum signals improve. For now, pullbacks appear to be limited, which means buyers could remain active toward the $46,000-$50,000resistancezone.
The cryptocurrency is up 4% over the past 24 hours and is attempting to establish a higher price range on the charts.
A decisive breakout above $46,000 is needed to shift the four-month-long downtrend. Typically, price rallies stall after retracing 50% of the prior down move, similar to what occurred in September 2021 around the $50,000 price level.
The relative strength index (RSI) on the daily chart remains in bullish territory (above 50), indicating renewed buying activity. On the weekly chart,momentum indicatorsare on the verge of turning positive for the first time since August, which preceded a strong price rally.
Still, a bearish set-up remains on the monthly chart, which means upside could be limited. || The Metaverse Will Take Nvidia to a New All-Time High: Tech stocks have had a frustrating start to the year, andNvidia(NASDAQ:NVDA) is no exception. Most tech companies are suffering from the market sentiment, theRussian invasionof Ukraine and inflation. However, some company-specific factors, like itsfailed dealto acquireSoftbank’s(OTCMKTS:SFTBY)Arm and acyberattack, have affected NVDA stock.
Source: Hairem / Shutterstock.com
These issues have brought negative light on the company, which has led to a dip in its shares. Once riding close to $350, the stock is down to $247 as of March 17.
NVDA stock is a top tech pick with long-term potential. I believe any dip in the stock is a chance to add it to your portfolio because while it may be down temporarily, it will never be out. There are several catalysts working for NVDA stock. Let’s take a look at them.
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Nvidia is known for setting the gold standard in graphics processing units (GPUs). The demand for Nvidia’s chips hasn’t slowed in a while and might continue at its rapid pace throughout the year.
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The company is leaving no stone unturned to expand and grow its business. It recently announcedthe acquisitionof Israel’s Mellanox Technologies, Ltd. for $6.9 billion. Nvidiathen purchasedExcelero, which provides enterprise data storage and block storage solutions.
This is the largest research and development activity of Nvidia outside of the U.S. It is making the right moves across the industry and strengthening its portfolio. The company is also throwing its cash in the right direction to ensure it continues to grow.
Nvidia started as a chip company and has now become a market leader in gaming, data centers and artificial intelligence. Looking ahead, it can expect massive demand for software and hardware to build metaverse platforms.
In fact, Nvidia is already noticing early-stage demand for its3D design collaboration platform, Omniverse. It is also in a strong position to meet the metaverse hardware needs that may arise. By leveraging its design platform, Nvidia will be able to generate billions in revenue this year.
It might seem early, but growth in Omniverse is already showing. In thefourth quarter, the company reported $643 million in revenue from the visualization segment. This is another substantial revenue-generating stream that has opened for the company and it could be a gamechanger over the next five years.
Ina reportonStreetInsider,a Cowen analyst stated Nvidia could have $140 billion in annual sales and annual earnings per share of $28 by 2030. He added that Omniverse is a monetizable intersection of the company’s hardware, animation expertise and AI-based computing platforms. As the market for metaverse-related technologies grows, Nvidia could claim a leading share.
Fundamentally, Nvidia is a solid company with consistently strong revenue. The current dip is part of the overall market sentiment, and all tech stocks are suffering from it.
Market conditions might not be in favor of NVDA stock right now, but look at the future before deciding to buy or sell. Nvidia is scaling and expanding across the industry. It has a high growth rate and solid fundamentals. Despite the pandemic, the company continues to thrive and its worst days are behind it.
NVDA stock has a long way to go, and it is going to rebound soon. Neither Russia’s war with Ukraine or a cyberattack will be able to stop the momentum of the company. Stock up on NVDA shares at every dip.
On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postThe Metaverse Will Take Nvidia to a New All-Time Highappeared first onInvestorPlace. || Direxion Refiles With SEC for Short Bitcoin Futures ETF: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Direxion has reapplied with the U.S. Securities and Exchange Commission (SEC) for its Bitcoin Strategy Bear ETF, a futures-based exchange-traded fund seeking to inversely track the price of bitcoin (BTC).
• Direxion's move on Thursday follows a filing on Wednesday by ProShares for asimilar product.
• The Direxion Bitcoin Strategy Bear ETF is intended to maintain short exposure to bitcoin futures contracts – in essence, betting the price of the cryptocurrency will fall.
• In early November, Direxion – at the behest of the SEC –pulled a previous applicationfor the Bitcoin Strategy Bear ETF. No reason was given at the time.
Read more:ProShares Aims to Let Investors Bet Against Bitcoin With New ETF
UPDATE (April 7 20:50 UTC): Adds information on what the ETF would do in the second bullet point. || Holders of USDT on TRON Network Hit New Highs at 11 Million: New York, New York--(Newsfile Corp. - March 25, 2022) - According to the blockchain explorer TRONSCAN, the number of addresses holding USDT on TRON has surpassed 10 million, recording 11 million. Besides, the circulating supply of USDT-TRON has reached 40.7 billion, accounting for over 50% of the total USDT in circulation. Bolstered by a robust user base, the average daily transfer of USDT-TRON stabilizes at around $6 billion.
Image 1To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8247/118119_1ca33790a4a83b7e_001full.jpg
The number of addresses with USDT-TRON holdings has soared by nearly 8 million after USDT-TRON claimed the crown as the industry's fastest-growing and most-used stablecoin last April. Drivers behind this achievement are TRON public chain's affordability, efficiency, and security. USDT-TRON has long been praised for its 1 USDT handling fee, which has made it the go-to option for many users when making transfers and payments on blockchains.
USDT-TRON, thanks to the industry-wide influence and credibility of the TRON public chain, plays a critical role in the value circulation of the crypto market. It is tipped to gain wider recognition as Tether verifies that the digital tokens it has issued are fully backed by its reserves.
Serving as the bridge between the blockchain world and the real one, stablecoins have swiftly ascended to the top of the crypto market over the past two years. In terms of ranking by market cap, USDT sits among the top five along with USDC. By growth rate, the circulating supply of major stablecoins in 2021 edged up by 471%, with over 20 new stablecoins launched.
The rising attention paid by official institutions on stablecoins is also noteworthy. This February, the Fed released the latest report on stablecoins, acknowledging the next-generation innovative potential of stablecoins and elaborating on their prospective impact on banking systems and credit intermediaries. In the meantime, more and more countries have begun pondering whether stablecoins should be regulated and, if yes, how so.
In terms of adoption, crypto payment processing company BitPay Inc. earlier pointed out that an increasing number of consumers and enterprises are choosing stablecoins over Bitcoin to make purchases, which has perhaps made stablecoin payment the fastest-growing payment option on the platform. From the outside looking in, more and more enterprises are starting to use stablecoins in cross-border payment.
The most representative case arose during the Russia-Ukraine crisis, where TRON-based USDT joined BTC and ETH to be the first cryptos publicly accepted by the Ukrainian government for donations. Soon after, TRON founder Justin Sun expressed support for the move. In other words, Bitcoin's dominance in crypto payment is now under siege by stablecoins, with TRON-USDT being the lead.
Among all players, USDT not only witnessed and bolstered DeFi's growth to be the most influential and pervasive blockchain use case since the "DeFi summer" in the latter half last year but went a step further to accelerate the advent of crypto payment. Its version on TRON, endorsed and issued by Justin Sun three years ago, has grown into a heavyweight boasting over tens of millions of users and over 4 million circulating supply thanks to advantages such as transparency, security, minimal transfer fees, and instant delivery, and will play a crucial part in attracting greater traffic for TRON's DeFi and the broader crypto market.
TRON, as one of the world's most established public chains, has reinforced its investment and strength in DeFi while advancing at blitz speed in stablecoins.
Image 2To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8247/118119_1ca33790a4a83b7e_002full.jpg
According to the latest stats on Defi Llama, the TRON public chain now ranks 7th worldwide in terms of TVL. Sector-wise, TRON has created a full-fledged DeFi ecosystem incorporating stablecoins, lending, DEX, oracle, liquidity mining, governance mining, and cross-chain assets, and is set to keep up its momentum in the year ahead, as its SUN and JST-powered DeFi ecosystem matures with time.
In this sense, TRON, boasting the industry-leading USDT and a massive 83 million+ user base, has already gained the upper hand. As the effect of its integration, innovative moves, and cross-chain connectivity gradually comes into play, TRON DeFi's advancement in the DeFi sector will be a given point.
Viego [email protected]:https://tron.network
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/118119 || Robinhood Isn’t Moving the Needle Yet for Shiba Inu: We’ve heard the same story for a long time now — whenShiba Inu(SHIB-USD) finally starts trading on theRobinhood(NASDAQ:HOOD) platform, that’s when Shiba Inu willfinallytake off and make everyone millionaires.
And if you’ve got SHIB-USD in your crypto wallet, you were probably thinking the same thing. Or at least, you were hoping that you’d see a nice little bump in your Shiba Inu holdings.
But more than a week after SHIB-USD finally debuted on Robinhood, and it looks like the long-awaited “Robinhood bump” was a dud.
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As in, completely underwhelming.
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In fact, trading volume on SHIB-USD is actually down over the last week. Its even lower than before thecryptocurrencystarted trading on Robinhood. The whole point of listing Shiba Inu on Robinhood was to make it more accessible to traders and trading volume would help push shares closer to a penny.
That’s not happening.
Shiba Inu is one offour cryptocurrencies Robinhood addedto the trading platform on April 12. The coin’s price popped higher by about 8% the day before SHIB-USD began trading, when could you could buy the pupcoin for 0.000027 cents.
But since then, Shiba Inu is down to 0.000025 cents, or a drop of about 4%. It’s already given up half of its Robinhood gains.
Now look at the trading volume, as recorded onYahoo Finance. In the four days before Shiba Inu started trading on Robinhood the trading volume was:
• April 5:1.3 billion shares traded
• April 6:687.65 million
• April 7: 624.39 million
• April 8:456.28 million
• April 9:683.93 million
• April 10:739.65 million
On April 11 and April 12 we saw a big spike, with 3.93 billion shares traded on April 11 and 2.03 billion shares traded on April 12. But then, disappointment follows:
• April 13:1.15 billion shares traded
• April 14:464.52 million
• April 15:338.66 million
• April 16:420.84 million
• April 17:713.14 million
• April 18:514.27 million
So, the trading volume isn’t any higher with SHIB-USD on Robinhood than it was before the pupcoin began trading there. And on many days, the volume is lower than it was before trading on HOOD began.
Granted, this is a small sample size. But the initial indications are that Robinhood won’t do anything substantial for helping to boost the SHIB-USD price. And that’s a disappointment.
On the date of publication, Patrick Sanders had a long position in SHIB. He did not have (either directly or indirectly) any other positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postRobinhood Isn’t Moving the Needle Yet for Shiba Inuappeared first onInvestorPlace. || Digihost Becomes First Publicly Traded Miner to Offer Bitcoin Dividend Payments: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Digihost (DGHI) became the first publicly traded crypto miner to offer shareholders the option to get dividend payments in bitcoin (BTC), starting from the third quarter of this year.
• The company’s first dividend will be 10% of its net income during the third quarter of 2022. Shareholders will have the option to get paid in either bitcoin or cash, the miner said in astatementon Monday.
• The rest of Digihost’s net income will be reinvested to fund future business requirements and opportunities.
• “The Board of Directors of Digihost is pleased to announce our decision to become the first public company in the crypto mining space to implement a dividend policy payable in BTC to its shareholders,” said CEO and chairman Michel Amar in the statement.
• The decision comes as publicly traded miners are looking todiversifytheir business model to create additional shareholder value, rather than just holding onto their bitcoins in their balance sheet.
• For 2022, the company said it expects an averagehashrateof 1.5 exahash per second (EH/s), which is about a 5.5 times increase compared to its 2021 average hashrate. Currently, the miner's hashrate is 1 EH/s and it mines 4.25 bitcoins per day.
• The miner also said it mined 186.8 bitcoin in the first quarter, an increase of about 78% from the same time period last year.
• At the time of writing, Digihost shares were up over 5% in early trading. Its shares have fallen about 27% this year, while bitcoin fell 3.6%. || Chinas Supreme Court Rules Fund Raising in Crypto Illegal: Key Insights The Chinese Supreme Court will now be able to issue jail sentences against people who raise public funds through crypto The move adds fuel to the already lit fire in the cryptocurrency and financial markets Jail terms and sentences would vary based on the intensity of the offense and the money involved Putins special military operation caused a significant financial upturn across different financial markets across the globe. The crypto market, too, wasnt spared from the bloodbath as the global cryptocurrency market cap slipped to as low as $1.5 trillion. To add to the worldwide tension, Chinas Supreme Court ruled that virtual asset transactions constitute illegal fundraising. Thus, further paving the way for tightening laws around cryptos in the nation. Adding Fuel in Fire Chinas supreme announced powers to jail those found guilty of raising funds through token sales, expanding its crypto crackdown. Amid primarily sensitive market conditions as Apple , Microsoft , and other Big Tech stocks led the market selloffs, Chinas decision to come down firmly on crypto added fuel to the fire. The effects of Russias military operation were seen on major indices, too, as Nasdaq 100 index plunged by more than 20% for the first time in nearly two years. According to the statement released, Chinas highest court amended its interpretation of its Criminal Law to raise public money through virtual currency illegal. The amendment comes into force on March 1, 2022. The ruling further stated that suspects would be prosecuted under Article 176 of Chinas criminal law, which stipulates prison sentences between three and 10 years and fines between $7,900 (RMB 50,000 ) and $79,000 (RMB 500,000) for crimes involving large sums of money. According to the criminal law, less serious offenses will be prosecuted with under three years of prison and fines between $3,160 (RMB 20,000) to $31,600 (RMB 200,000). Chinas Tussle With Crypto Continues Interestingly, while China had banned crypto-based fundraising in 2017, the new amendment allows the Chinese courts to issue sentences to criminals officially. That said, jail terms for the said crimes would vary based on the intensity of the offense and the money involved in the crime. Story continues Notably, the Peoples Bank of China and several other top-tier agencies had declared that crypto transactions were illegal fundraising back in September 2021. The Thursday court ruling formally designates them as crimes, determining related punishments. In May 2021, Chinas State Council ordered a crackdown on crypto mining and trading that led to the migration of a dozen of crypto mining firms and crypto organizations. The same also led to the fall of the crypto market in May when BTC dropped to as low as $30K, and Ethereums price plunged to a low of $1750. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Markets Get Boost From Ukraine Jitters Gold Spikes on Conflict Silver Markets Have Wild Ride Silver Prices Soar Following Putins Invasion of Ukraine USD/CAD Tests Resistance At 1.2850 Natural Gas Prices Rallied on Declining Inventories
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 39740.32, 39486.73, 39469.29, 40458.31, 38117.46, 39241.12, 39773.83, 38609.82, 37714.88, 38469.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-05-05]
BTC Price: 36575.14, BTC RSI: 38.18
Gold Price: 1874.00, Gold RSI: 40.02
Oil Price: 108.26, Oil RSI: 56.75
[Random Sample of News (last 60 days)]
The AMC mobile app for US theaters now accepts Dogecoin, Shiba Inu and other cryptocurrencies: Those of you who bought Dogecoin as a joke can use them toward movie tickets at AMC. The largest movie theater chain in the U.S., AMC Theaters, has been openly pro-crypto, and the CEO recently announced its mobile app will now accept Dogecoin (DOGE), Shibu Inu (SHIB) and other cryptocurrencies. The names of the other newly supported cryptocurrencies are yet to be revealed. TechCrunch has reached out for a comment and will update this if they get back to us. Exactly as promised, the AMC mobile app for AMC’s U.S. theatres now accepts online payments using Doge Coin, Shiba Inu, and other crypto currencies — thanks to Bitpay. Also Apple Pay, Google Pay and Paypal. To do so, you first will need to update to the latest version of our app. pic.twitter.com/MMy7SIxYbl — Adam Aron (@CEOAdam) April 15, 2022 https://platform.twitter.com/widgets.js In the tweet , Aron revealed that customers in the U.S. can update the latest version of the AMC Theatres' iOS and Android mobile apps to use crypto payments via integration with BitPay. Dogecoin was accepted by AMC Theaters in October 2021, but only through digital gift cards (up to $200 per day). Its plans to begin accepting crypto were announced in August , however, it wasn't until January 6, 2022 , when the CEO of AMC Theatres, Adam Aron, promised users via a tweet to include meme tokens DOGE and SHIB by March. While delayed, the company delivered, appeasing the impatient Dogecoin fans. The company first started accepting crypto payments back in November, which allowed customers to purchase movie tickets online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). After the announcement, social media erupted with Dogecoin fans demanding the meme cryptocurrency be accepted as well. Aron tweeted a poll , asking whether they would use DOGE to make purchases at AMC. More than two-thirds voted yes. According to Aron, crypto payments accounted for 14% of total online transactions . Paying for popcorn and tickets using DOGE is simple, for the most part. All you have to do is select BitPay as your payment method once you have added your AMC tickets to your cart. Then you just connect your crypto wallet or get an address where you can send your chosen cryptocurrency. || US stocks jump as oil prices slip and jobs data boosts confidence in the economy: Xinhua/Wang Ying/Getty Images US stocks rose on Thursday after weekly jobless claims fell to their lowest level in 52 years. The strong claims data bested economist estimates and underscores a healthy job market. Oil prices fell, with West Texas Intermediate dropping 2.3% to settle at $112.34 per barrel. US stocks moved higher on Thursday, recovering from Wednesday's sell-off, after weekly jobless claims fell to their lowest level in 52 years. Jobless claims fell to 187,000 last week, down 28,000 from the previous week and ahead of economist's estimates of 210,000. Filings hit the lowest level since September 1969, highlighting the underlying strength of a job market that is still recovering from the COVID-19 pandemic. Meanwhile, commodity prices cooled on Thursday, with oil prices falling more than 2%. The drop in oil came on the same day President Joe Biden traveled to Europe to meet with other Western countries regarding the ongoing invasion of Ukraine by Russia, and called for Russia to be removed from G20. Here's where US indexes stood at the 4:00 p.m. ET close on Thursday: S&P 500 : 4,520.16, up 1.43% Dow Jones Industrial Average : 34,707.94, up 1.02% (349.44 points) Nasdaq Composite : 14,191.84, up 1.93% Russia partially reopened its stock market on Thursday for the first time in a month. The country allowed shortened trading in 33 of its 50 stocks, banned short-selling, and blocked foreigners from selling their stocks. The Moscow Exchange surged as much as 12% before finishing the day up 4%. Russian billionaires gained more than $8 billion in wealth on Thursday after the Moscow Exchange resumed partial trading in certain securities. BlackRock CEO Larry Fink believes the ongoing Russia-Ukraine conflict could help boost digital currencies after sanctions against Russia crippled their economy. "The war will prompt countries to re-evaluate their currency dependencies," Fink said. Nikola stock soared as much as 19% after the company said it began production of its electric semi-truck. The company said it plans to build between 300 and 500 trucks this year. Story continues Marijuana stocks surged in late afternoon trades on Thursday after the US House of Representatives scheduled a vote next week on a bill that would legalize the drug. West Texas Intermediate crude oil fell 2.3% to settle at $112.34 per barrel. Brent crude , oil's international benchmark, dropped 2.9% to $118.04. Bitcoin rose 2.83% to $43,960. Ether prices jumped 2.97% to $3,109. Gold rose as much as 1.37% to $1,638.80 per ounce. The yield on the 10-year Treasury added 7 basis points to 2.36%. Read the original article on Business Insider || Apple Push Into Baseball Includes Elevating Female Broadcasters: (Bloomberg) -- Apple Inc.’s push into streaming Major League Baseball games, part of an effort to expand its TV+ service, includes bringing more women into the broadcast booth.
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Beginning with Friday’s game between the New York Mets and Washington Nationals, Melanie Newman will lead play-by-play coverage, becoming the second woman to handle those duties for a national broadcast team, Apple said Thursday. The group also includes Brooke Fletcher as reporter and Hannah Keyser as an analyst, with former player Chris Young filling out the team.
Later that evening, the broadcast team covering the Houston Astros playing the Los Angeles Angels will include Katie Nolan as an analyst and Heidi Watney on reporting duties. Stephen Nelson will handle play-by-play coverage, and Hunter Pence will serve as another analyst.
Apple announced plans to stream MLB games last month, marking its first foray into sports broadcasting. The TV+ service will offer two games on Friday nights to fans in eight countries.
The programming, called “Friday Night Baseball,” will have live pre- and postgame coverage hosted by Lauren Gardner, Apple said.
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©2022 Bloomberg L.P. || Bitcoin Influencer Dan Held Steps Back From Kraken’s Marketing Team: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoiner Dan Held is leaving Kraken’s marketing leadership to focus instead on a personal consulting business, CoinDesk has learned.
The soon-to-be former director of growth marketing won’t exit Kraken outright. He’ll become a “brand ambassador,'' sources told CoinDesk. He’s described the role to associates as akin to a “chief Twitter officer” side hustle while he works on crypto consulting.
That transition highlights how Held’s personal brand has emerged as a lucrative marketing tool in the cryptoverse. With 580,000 Twitter followers, a popular Bitcoin-centric newsletter and a YouTube channel, Held is a visible, vocal Bitcoin celebrity online.
He’s honed that image in the years since Kraken hired him and acquired his crypto portfolio management startup Interchange in 2019. Held then became Kraken’s head of business development and one year later switched to director of its growth marketing team.
Kraken did not immediately elaborate on the shift. || Ex-Canadian Government Employee in Ransomware Caper: Key Insights: Ex-Canadian lawmaker extradited to the US for ransomware crimes. Law enforcement seized 719 Bitcoin and CAD 790,000 in fiat. The US Justice Department will set an example if the ex-lawmaker is found guilty. The Canadian government and cryptos have garnered plenty of media attention recently. February proved to be a challenging month for Canadian Prime Minister Justin Trudeau. The Freedom Convoy 2022 led to the Prime Minister’s flight to safety. For the crypto market, Trudeau also invoked a state of emergency. Far-reaching laws under a national state of emergency allow the government to freeze personal bank accounts without court orders. A wave of bank withdrawals and crypto purchases led to attempts to freeze crypto accounts and wallets. Exchanges were less forthcoming, however. With illicit activity on the rise early in the year and the Freedom Convoy 2022 grabbing plenty of media attention, news of a Canadian ex-lawmaker involved in a ransomware caper caught the headlines. US DOJ Extradites Ex-Canadian Lawmaker On Thursday, the Department of Justice (DoJ) announced the extradition of a former Canadian government employee to the U.S on charges of ransomware attacks. The attacks allegedly resulted in payments of tens of millions of dollars in ransoms. The indictment charged Sebastien Vachon-Desjardins with a laundry list of offenses, including computer fraud, wire fraud, and participation in ransomware known as NetWalker. NetWalker has reportedly targeted companies, municipalities, hospitals, law enforcement, emergency services, school districts, colleges, and universities worldwide. According to the DoJ, attacks also targeted the healthcare sector during the pandemic, extorting victims amidst a global economic crisis. During the arrest of Vachon-Desjardins, law enforcement officers reportedly seized 719 Bitcoin ( BTC ) and CAD 790,000 in fiat. Ransomware has become a big concern for governments. It is of far greater concern when considering the countries with the largest hauls. Russia Leads Ransomware Ill-gotten Gains Last month, FXEmpire reported on ransomware figures for 2021 and the possible use of ransoms to fund illegal activities, including terrorism. In 2021, Russian entities led the way on the ransomware table, with Conti amassing $180m from ransomware victims. DarkSide, another Russian entity, came second with just under $100m. These numbers are conservative estimates, however. In 2021, Chainalysis estimates that ransomware payments hit $602m. Based on 2020 revisions, the number would be almost double the estimate and well above the $1bn mark. Story continues With North Korea also particularly active in the crypto space, governments have raised concerns over Russia’s ability to circumvent sanctions via the crypto market. It remains to be seen whether Russia has a big enough haul to offset Russia’s lack of access to funds by legitimate means. Whale Alert today identified three crypto withdrawals, totaling 30,000 BTC, from Coinbase . A total amount, equivalent to approximately $1.17bn, was sent to anonymous wallets. With Bitcoin edging its way back towards $40,000, some form of investigation could be next, though governments would be hard-pushed to gain access to unknown crypto wallets. When considering Russia’s invasion of Ukraine and government intentions to stamp out illicit activity, ex-Canadian lawmaker Vachon-Desjardins could be in for a tough time should the charges stick. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Moves Lower As Canada’s Job Reports Exceed Analyst Expectations Why DocuSign Stock Is Down By 22% Today Natural Gas Markets Continue to Display Choppiness Ripple welcomes 4000 creators to its $250 million Creator Fund May WTI Buyers Eyeing Retracement to $112.99 – 116.16 Natural Gas Markets Pull Back From $5.00 During the Week View comments || First Mover Asia: Bitcoin Set to Close Week Underperforming Major Japan, China Stocks: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Good morning. Here’s what’s happening: Prices: Bitcoin and ether were roughly flat over the past 24 hours. Insights: Bitcoin has been underperforming major Asian stock indices amid investors' concerns about interest rate hikes and uncertain macroeconomic conditions. Technician's take: Range-bound price action could persist for a few days. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover , our daily newsletter putting the latest moves in crypto markets in context. Prices Bitcoin ( BTC ): $43,544 -0.3% Ether ( ETH ): $3,227 +0.7% Top Gainers Asset Ticker Returns Sector Ethereum Classic ETC +10.0% Smart Contract Platform Stellar XLM +2.4% Smart Contract Platform Polygon MATIC +1.9% Smart Contract Platform Top Losers Asset Ticker Returns Sector Bitcoin BTC −0.5% Currency Litecoin LTC −0.4% Currency Bitcoin Cash BCH −0.4% Currency Bitcoin did a little better on Thursday after tumbling the previous day but still fell slightly, following a downward trend for much of the week. Ether fared slightly better, but other major altcoins were mixed. Bitcoin, the largest crypto by market cap, was recently trading at about $43,500, about where it stood 24 hours earlier and well off the $47,000 threshold it crossed a week ago as investors continued to digest the U.S. central bank's new hawkish intensity and the ongoing swirl of economic events stemming increasingly from Russia's invasion of Ukraine. "Bitcoin is struggling for direction as Wall Street grows cautious over how aggressive the [Federal Reserve] will be with tightening of monetary policy," Oanda Senior Market Analyst Americas Edward Moya wrote in an email. SOL and AVAX were recently up about 2% and 3%, respectively after spending parts of Thursday in the red. Terra's luna (LUNA) was recently down over 4%. The meme coins DOGE and SHIB were both roughly flat. Outside the CoinDesk top 20, CAKE rose over 6% at one point. Story continues Crypto prices veered slightly from the performance of major equity markets, which were in the green, albeit barely. The tech-focused Nasdaq was up less than a tenth of a percentage point. The U.S. central bank has signaled powerfully as a body, and by individual governors, over the past week that it would ratchet up its efforts to tame inflation, which has reached nearly 8%, a four-decade high. On Thursday, Federal Reserve Bank of St. Louis President James Bullard told reporters after a speech that the Fed would have "to move forthrightly in order to get the policy rate up to the right level to deal with inflation that we’ve got in front of us." His remarks followed two days after Fed Governor Lael Brainard, who had been reluctant to abandon the Fed's dovish posture of recent years, suggested the Fed might increase interest rates at a faster pace. Other winds during the day blew more favorably for digital assets. Addressing crypto In a speech for the first time, U.S. Treasury Secretary Janet Yellen said that a digital dollar could become a "trusted money comparable to physical cash." Speaking to attendees at an American University event, Yellen highlighted the differing perceptions about crypto, saying that’s often the case with “transformative” technology. “Some proponents speak as if the technology is so radically and beneficially transformative that the government should step back completely and let innovation take its course,” she said. “On the other hand, skeptics see limited, if any, value in this technology and associated products and advocate that the government take a much more restrictive approach.” Meanwhile, European and U.S. lawmakers who have criticized Russia's unprovoked attack on Ukraine were considering and pushing forward on new economic sanctions. They included a European Union ban on Russian coal and a U.S. House vote to remove Russia's favored trade status and a halt to imports of energy products. Still, Oanda's Moya was cautiously optimistic about bitcoin's near-term performance. "Bitcoin has held up nicely given the recent bond market sell-off, but it could struggle if that move continues," he said. "Bitcoin's long-term outlook remains bullish but if risk aversion runs wild it could be vulnerable to a drop towards the $38,000 level." Markets S&P 500: 4,500 +0.4% DJIA: 34,583 +0.2% Nasdaq: 13,897 +.06% Gold: $1,931 +0.3% Insights Bitcoin set to close week underperforming major asian stock indices Concerns over how a hawkish Fed will react to inflation, the continuing war in Ukraine and China’s COVID-19 crisis sent Asian markets tumbling this week, and bitcoin with them. Hang Seng and other indices (TradingView) The world’s largest digital asset is set to end the week down 8%, underperforming major indices in Asia including the Nikkei 225, Hong Kong’s Hang Seng Index, the Hang Seng index of Hong Kong-listed China Stocks, as well as the S&P 500. Analysts have pegged uncertainty, anchored by anticipation of the latest Fed minutes, as a reason for the week-long sink. The Fed now has a mandate to tame inflation, but the question is how tolerant will it be of the economy dipping into a recession. In February, a number of analysts who previously spoke with CoinDesk said the Fed would back off tighter monetary policy if the economy cools too much, too quickly and stocks tank. These observers believed the Fed could tolerate about a 20%-30% drop in equity prices. At the time, the central bank seemed inclined to raise interest rates in small 0.25 increments and by just a percentage point over the rest of 2022, a “trivial” amount one analyst said, with inflation running at 7% at the time. Now, with inflation surging closer to 8% and the macroeconomic environment increasingly uncertain because of the Russian invasion of Ukraine, the Fed has indicated it may be more aggressive in its anti-inflation measures. How its approach affects crypto is uncertain for the long term. For now, investors seem more risk-averse, which is bad news for bitcoin. Bitcoin’s slump on Fed hawkishness after a brief rally was felt throughout the broader crypto ecosystem as traders who bought into tokens including DOGE and SOL, which tend to rise and fall in sync with bitcoin, got rekt in a massive liquidation wave with over $400 million lost. With bitcoin’s continued correlation to the S&P 500, the big question on traders’ mind in Asia is what will break this trend? When will bitcoin rise again? Galaxy’s Mike Novogratz thinks it’s all on the shoulders of the Fed. Novogratz still believes bitcoin will eventually hit $500,000 and then $1 million, but it's going to be in retreat until the Fed takes its hands off the economy when it eventually slows down. Then, “Bitcoin goes to the moon,” Novogratz said. Technician's take Bitcoin Stabilizes at $43K Support; Resistance at $45K-$48K Bitcoin daily chart shows support/resistance, with RSI on bottom. (Damanick Dantes/CoinDesk, TradingView) Bitcoin ( BTC ) is stabilizing after a near-10% drop from the $48,000 resistance level earlier this week. The cryptocurrency is holding support above $43,000 and is roughly flat over the past 24 hours. The relative strength index ( RSI ) on intraday charts are rising from oversold levels, which could keep short-term buyers active into the Asia trading day. On the daily chart, however, the RSI is neutral with negative momentum, suggesting range-bound price action could persist for a few more days. BTC will need to make a decisive move above above $45,000 in order to yield upside price targets, initially toward $50,966. For now, the price recovery from the January low at $32,933 remains intact, especially given the positive momentum reading on the weekly chart. Still, indicators on the monthly chart suggest upside is limited for BTC over the intermediate term. That means BTC will need to maintain stronger support above $37,560 to keep the three-month uptrend of higher price lows stable. A decisive break below that level could invalidate the recovery phase. The chart below shows key levels to manage short-term risk, per the DeMARK indicators, available on Symbolik . Bitcoin daily chart shows DeMARK set-ups with MACD on bottom (Damanick Dantes/CoinDesk, DeMARK Symbolik) Important events Bitcoin 2022 conference Miami Portland Ethereum Hackathon 9:30 a.m. HKT/SGT(1:30 a.m. UTC): Australia financial stability review 1 p.m. HKT/SGT(5 a.m. UTC): Japan consumer confidence index (March) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Yellen’s First Speech on Digital Assets, Miami Mayor on MiamiCoin and Bitcoin Capital Ambition and More Miami is charging ahead with its bitcoin capital ambitions as it unveils a laser-eyed charging bull during the Bitcoin 2022 conference this week. Mayor Francis Suarez joined "First Mover" to explain his crypto projects for the city, and what's going on with MiamiCoin. Plus, insights on the potential impact of Janet Yellen's speech on digital assets from Martin Leinweber of MV Index Solutions and more Miami bitcoin conference news from John Bartleman of TradeStation. Headlines Blockchain-Exposed Stocks Could Show Massive Sales Growth Despite Recent Underperformance, Goldman Says: Bitcoin has become more correlated with equity index returns in recent months, the bank’s analysts said. HBAR Foundation Commits $250M to Drawing Metaverse Apps to Hedera: The announcement follows a $155 million DeFi fund launched at the end of March. Dogecoin, Solana Traders Nurse Big Losses as Cryptos See $400M in Liquidations: Wednesday's figures were the third-highest liquidation losses of this year. Cosmos-Based Juno Blockchain Pushed Offline in Apparent Attack: A malicious smart contract has put the network out of commission for over 24 hours and comes less than a month after a controversial governance vote. Tom Brady’s Autograph, ESPN Launch Network’s First NFT Collection: The collection will feature images of the likely Hall of Fame quarterback and coincide with the release of a docuseries on Brady’s career. Longer reads Waves Founder Blames Short Sellers for Its Woes. Here's Why That's a Red Flag: To longtime finance observers, blaming shorts often looks like the last desperate deflection of a project in denial about its failures. Today's crypto explainer: What Is a Rebase/Elastic Token? Other voices: Miami’s crypto craze on full display at bitcoin conference ( ABC News ) Said and heard "It isn’t often you’d hear tech companies described as dinosaurs, but they are indeed now just that and need to evolve or risk being relegated to an era past. The largest tech giants, including Amazon, Google and Meta Platforms, have become too accustomed to the outdated business models of ad monetization, an industry that is growing 15.7% annually. Ad tech is still an appealing opportunity, but blockchain has a much higher growth potential." ( Rockaway Blockchain Fund Chief Investment Officer Dusan Kovacic ) ... “With this new business structure, Tennessee will be a beacon for blockchain investment, new jobs and investment,” [Powell] says. “Just as Delaware became a hub for traditional LLCs or South Dakota for credit card companies.” ( Tennessee state representative Jason Powell, quoted in the Nashville Scene ) ... "Credit rating agencies have indicated that payments in a currency different from the one the debt was sold in would count as a default once the grace period expired. Russia’s debt payments that were due on Monday have a 30-day grace period and had no provision for repayment in any currency other than dollars. It would be Russia’s first default on foreign currency debt in more than a century." ( The New York Times ) || Tesla, Block and Blockstream to mine bitcoin off solar power in Texas: (Reuters) -Electric-vehicle maker Tesla Inc TSLA.O>, payments firm Block Inc and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas, Blockstream CEO Adam Back said on Friday. Tesla is building the solar power infrastructure and providing its Megapack batteries, Back added. Blockstream and Block, which was previously known as Square, had said in June that they were collaborating to build an open-source and solar-powered bitcoin mining facility in the United States. Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on fossil fuels. Environmental concerns related to bitcoin mining had in May last year prompted Tesla to stop accepting bitcoin for car purchases. Tesla and Block did not immediately respond to requests for comment. (Reporting by Akash Sriram in Bengaluru; Editing by Aditya Soni and Maju Samuel) View comments || The Rise of New Dual Miners Technology: HELSINKI, Finland, April 08, 2022 (GLOBE NEWSWIRE) -- Dualminers (www.dualminers.com) is excited to announce the official introduction of three mining rigs that have the potential to change the worldwide crypto industry. Dualminers has used ASIC chip technology to create three solutions that are pre-configured for ease of use and promise a return on investment in as little as one month, led by some of the most experienced specialists in the cryptocurrency mining industry.
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Michael Scott
PR [email protected](+358) 41 4001034 || Alex Adelman: The Rewards of Bitcoin: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin Pizza Day on May 22 is fast approaching. It will mark the 12th anniversary of an annual celebration of Bitcoin and a solemn parable for the virtue of HODLing. (Laszlo Hanyecz spent 100,000 bitcoin (BTC) on two pizzas, crypto that’s now worth upwards of $4 billion.)
A decade ago, Bitcoin was considered a digital payment system (rather than the store of value narrative today), and Bitcoin enthusiasts would spend hundreds of bitcoins (then worth only couple of bucks) on everyday items like coffee and pizza.
But times have changed. These days bitcoiners typically want to acquire as much bitcoin as possible – or “stack sats” as they call it. And what could be an efficient way of stacking sats? Alex Adelman, co-founder and CEO of bitcoin rewards company Lolli, thinks he’s unlocked the answer. Lolli lets people earn up to 12% back in bitcoin when they make purchases using U.S. dollars from companies like Nike, Adidas, eBay and many more.
This article is part ofRoad to Consensus, a series highlighting speakers and the big ideas they will discuss atConsensus 2022, CoinDesk's festival of the year June 9-12 in Austin, Texas.Learn more.
Adelman has a long track record in e-commerce. In 2017, he was selected to the Forbes 30 Under 30 list for the retail and e-commerce category. So his journey to launching Lolli is anything but a coincidence. He was previously the CEO and co-founder of Cosmic (acquired by PopSugar, then Ebates), an e-commerce infrastructure company. At Cosmic, Adelman and his co-founder invented the "buy button,” which has now become a common piece of online architecture.
As an economics major, he was influenced by Muhammed Yunus’microfinance experimentsin Bangladesh, which demonstrated (among other things) how access to mobile phones can empower the poor. Adelman’s approach to Bitcoin comes from a similar conviction: The idea that Bitcoin as a software is a powerful financial force that could unleash trickle-up economics. And for that reason, he’s passionate about creating a way for people to get their hands on their first bitcoin – orsatoshis(sats) – that doesn’t involve investing, which tends to turn off plenty of risk-averse people.
Adelman, a speaker at CoinDesk’s Consensus festival in June, spoke with CoinDesk from Miami, Florida, where he attended the Bitcoin Conference 2022.
So right now, you’re in Miami because of the Bitcoin Conference. Do you see Miami becoming the Bitcoin cityas Mayor Suarez hopes it to be?
Miami's definitely compelling. There's a lot of really nice parts of Miami, but I think Miami has some catching up to do with New York.
But I think a lot of the young kids, the 20 to 30 year olds, are moving to New York overwhelmingly. It's impossible to get a lease right now in New York, and all these builders want to live in a cool, fun, young city. I think there's so much going on aroundWeb 3, Bitcoin, crypto, andNFTs. That's happening in New York because it's such a cultural hub. A lot of investors or people who have already made money are moving to Miami, but I'm not seeing the true builders – the engineers, the founders – move there overwhelmingly.
The sad thing is that New York, on a regulatory side, has been a laggard. It's probably the worst place to build, on a regulatory standpoint, a company. But then, from a talent perspective, there are so many brilliant people, executives and hard working individuals that have deep experience in financial technology, engineering and security that I think New York is still the best place to scale a financial company – a fintech company. I think that e-commerce, retail, everything is in New York.
I have a hard time thinking about moving the company to Miami, but there's a lot of really interesting things happening in Miami and, clearly, things like conferences, everybody flocks here, and it seems really great. But I personally love being in New York, and I love having a presence in North Carolina as well, which is where I'm from.
It's interesting to think how cultural factors can be more important when it comes to making a decision on where to be based rather than macro considerations, like political, regulatory factors.
Yeah, it's really tough to be building. We're pushing regulators to really make New York a more Bitcoin-friendly state, and New York City a more Bitcoin-friendly city. I think (Mayor) Eric Adams has big plans to make it a hub of innovation, but it has a long way to go. They haveto get rid of BitLicense.
I think that New York has a long way to go to get to a point where it is attracting businesses to be started there because right now we're losing out to other [places]. Wyoming and specifically, Miami, are doing a really good job of attracting this next wave of people. It's going to be likea flag theory type approach, where every state is going to compete to have the best talent. And states that don't, will get left behind. I think it's gonna be interesting to see how that develops.
What about North Carolina, your home state?
North Carolina is kind of in between. We're working with regulators in North Carolina as well, but they're just slow moving. There's not a lot of tech-world leadership in North Carolina. We're constantly educating people.The Research Trianglehas this amazing talent if you treat it as one city. It has more Ph.D.s per capita than any place in the country, and it's such a hub of innovation. And we're just gonna keep losing people if we don't actually be a crypto-forward state, and specifically, a city. Personally, I think North Carolina has everything to gain and everything to lose. I've been pushing regulators to be more forward-thinking. And I might just have to get more involved in politics in order to actually create real action there!
How was the Bitcoin Conference this year? Last year, there were lots of weird clips or anecdotes from the Bitcoin Conference, right? I mean, we hadthis dogecoin guywho went up on stage. We hadMax Keiser who yelled “f**k Elon” and a bunch of other stuff. Like, none of it happened this year, or maybe it didn't make it to Twitter – was that your experience as well?
Yeah, I wonder if security was tighter or something like that, but it was massive. There were so many people. I don't know the final count, but I heard it was estimated at 40,000 people. I have been going since they started the Bitcoin Conference, and it's just night and day. Just amazing to see how many more people joined, and it was way less, to your point, chaotic in a really nice way. It was just a very well organized conference and just a lot of really good people.
Another really cool thing about the conference this year is that a ton of bankers were there, merchants were there, and traditional investors. I had never seen so many legitimate people from the outside industries who were there, and looking to partner with Bitcoin companies. That was really cool and very different.
When did you start going to the conference?
I believe 2018 was their first conference, and we had just launched Lolli – the first Bitcoin rewards company out there – and the immediate reception was amazing. The Bitcoin community was incredibly welcoming. I think that a lot of bitcoiners are constantly looking for a use case for bitcoin, outside of just store value. Lolli created a very innovative way of talking about bitcoin, and making bitcoin a part of everyday life. Now, we’re part of the ecosystem.
We’re in a market slump right now. Do you find it to be ironically bullish for Lolli because now people have more purchasing power, so they get more bitcoin for their buck?
Yeah, there's kind of a meme internally in our community where it's a “stack the dip,” that’s what a lot of people say. When bitcoin is down, it's “stack the dip,” and then when bitcoin is up, a lot of people will talk about their earnings doubling or increasing 5%, 10%.
And with most cash back systems, you get your $5 in cashback, and it's $5 – you're not even accounting for inflation. When you get $5 in bitcoin, and it goes up, people get really excited about it. More and more people talk about the rewards and how much they've gone up. We've even had this phrase that our users call “the Lolli effect,” and it's when the reward is paid for the item you bought. The item becomes free because your purchasing power is so great with bitcoin that you've accumulated. Since we launched, bitcoin is up about 9x as of today, a lot of people have already had their items mostly paid for with their bitcoin rewards.
Do you feel like Lolli helped onboard people onto Bitcoin, or is it the bitcoiners who use your product, and so you’re kind of preaching to the converted?
I think over 50% of our users, from what we can tell, never had bitcoin before. They're looking at Lolli as a risk-free way of getting into bitcoin. And the nice thing about the natural user experience is that, because people shop all the time, people don't really invest all the time. But everybody shops and everybody does it all the time.
The other nonobvious thing about our product is that we're bringing merchants that never touch crypto into the space as well. I estimate less than 10 of our 1,100 partners actually accept crypto. We have over 1,100 partners today. For a lot of merchants, we’re their first interaction with bitcoin.
Would it be a trade secret if I asked how you managed to convince all those big players like eBay to partner with Lolli?
Great question! I previously started a company called Cosmic, and we built a buy button technology. And that company sold primarily to merchants in North America. I made these merchants a lot of money. When I was starting this company, I had already sort of built their trust. I came in and asked for a lot of favors, and was able to get 500 merchants to launch. Then the data started coming back, that we were really doing well to drive sales and increased conversion rates, so the merchants ended up really loving what we were doing.
And you studied economics at Chapel Hill. Which is funny, right, because people who study economics don’t often end up being bitcoiners since it’s a very doctrinal discipline. Would you say your economics training maybe make it hard for you to be “orange-pilled”?
The way my brain works is, I question everything, I’m very skeptical of things, and I don't take experts as truth. A lot of my teachers wereKeynesian– very classic, old-school economists. I felt like a lot of the things that they were teaching were outdated. I didn't really agree a lot of times or really understand, to be honest, monetary policy. I felt like it was sort of this black box that they tried to rationalize with 60% accuracy. I was more curious with the 40%: What was happening in the unknowns, what were the behavioral sides, and how are we basing monetary policy on these sort of archaic beliefs?
Fast forward a little bit, I just felt like I was constantly questioning a lot that was going on at university. And then I really got into microfinance and everything that the Grameen Bank was doing in Bangladesh. Muhammad Yunus was working on this experiment that I was studying, where he gave the poorest woman in every village a cell phone and saw the trickle-up economics that would occur from that initiative. It was really impactful for me in my learnings, and I've been building technology since I was 12 – professionally, since I was 16. I kept thinking, “Okay, well, what do I want to build that's going to contribute to giving people - everybody – technology that's going to enable them?”
I ended up starting a company with this idea for Cosmic in college and then started really working on it after college. Then, we built the first dynamic “buy button” that lets merchants sell their products in different channels, anywhere, trying to open up and democratize commerce for merchants.
In 2013, I ended up learning about Bitcoin when I was crashing on couches, and I ended up getting really excited about the idea that you could connect 4.5 billion people with an internet connection through money. And it brought me back to the early days of learning about economics and seeing a monetary policy that everybody had the same rules on. And everybody understood, it was dead simple.
It didn't take an economics degree or Ph.D. to understand what was actually happening – it was like, there's only21 million of these things. Everybody that you know can see the code base, everyone has the same rules, and it's actually way simpler than the monetary policy that I was learning that fiat institutions were built on for the last few decades.
There's this liberating power of cell phones in some of the poorest parts of the world, isn’t there? Did you perhaps also see Bitcoin as a financially liberating software – like how a cell phone is as a hardware.
Absolutely. Going back to the example of the Grameen Bank, giving the poorest woman in every village in Bangladesh a cell phone is not too different from giving somebody a Bitcoin wallet. You give someone a Bitcoin wallet, and that person now has access to a bank – they now have access to hold their own money, to hold their own keys.
That sort of financial empowerment, I think we're going to see this trickle-up economics where now, 100% of people that have an internet connection immediately have a bank; they have a right to a bank, and no one can take that away from them. That is so incredibly powerful, it's going to do so much good for the world, and there’s no stopping anytime soon. I'm incredibly excited for that future and it's really not too different from the initiatives of the Grameen Bank back in the day.
You said you found out about Bitcoin in 2013. That was a time when people would enthusiastically spend bitcon on coffee or pizza. And now the irony is, people don’t want to spend their bitcoin! And at Lolli, you’re in the business of getting people to spend fiat, and earning bitcoin in return. Funny contrast from the time you first found out about bitcoin, isn’t it?
It's a really cool contrast. It's also kind of questioning everything, right? Reading the original white paper of Bitcoin was incredibly inspiring for me, and what I think it will eventually do. But it was a hypothetical of a future world where we lived on a bitcoin standard, and people were able to pay for things with bitcoin – we don't live in that world.
My extrapolative interpretation of the Bitcoin paper was very different from most people, where it was like, “How do we get there? How do we fill in the gaps?” I think a lot about behavioral psychology and behavioral economics, and how do you study what people are doing every day? And then how do you get somebody to change their behavior? It's incredibly difficult.
Before we started Lolli, there were no bitcoin rewards companies. It was just people buying bitcoin as an investment. And so I was like, if you're just doing it as buying, and you're just doing it as payments, no one wants to pay with something that's going up.
Like, you're not going in paying with your Apple stock, right? You're buying Apple stock, you're holding it, because it's life changing and hypothetically, it will go up as the market goes up, and you're making an investment. No one thinks to use that as a payment mechanism. That's how everybody was thinking about Bitcoin for most of the time.
There was no business case for merchant payments, so I was powering a lot of these cashback rewards coupon companies, with my last company being a buy button technology. I was listening to their problems and also listened to a lot of their successes.
Wait you mentioned this before, so I have to ask: what does it mean to be the inventor of … buy button?
My co-cook, Matt Senter, and I were the creators of the first dynamic buy button, and PayPal created a payments button that lets you pay on a merchant site. But my definition of a buy button – I think most people's definition of a buy button – is being able to buy anywhere. In order to do that, you needed to create an abstraction of that payment outside of the site. PayPal never did that, no one ever did that. What we did is … we created that. For the first time, a merchant through APIs could create a direct connection into their back end and sell an actual product backed by actual inventory outside of their site. That was what we really created.
Also, keep in mind this is 2011. Now, buy buttons are everywhere. But before Instagram, Pinterest, Google, nobody was buying outside of each other's sites, right?
Alright, since we talked a lot about Bitcoin and also mentioned the white paper … a hard question for you: Who’s Satoshi?
Who invented Bitcoin is a controversial and complex question. To be honest, I like this idea that it doesn't matter who made it as long as that wallet never moves. I think that there are a lot of conspiracy theories out there of “Who did it? Why did they do it?” So far, that wallet hasn't moved in a very long time. And it doesn't quite matter becauseproof-of-workis working, it's just an incredibly distributed network of miners and nodes and everything. The best part is that we don't know who Satoshi is. And it doesn't matter at this point who he is or who they are.
I have my theories, but I think those theories matter very little of who it would possibly be. And what they actually created and put out in the world was this near-perfect financial system and the start of a revolution of data and money.
It would be an absolute chaos if those Satoshi wallets suddenly moved one day though, right? Like, the worst day in crypto kind of situation.
It would probably be pretty crazy if someone moved those wallets. It's always interesting to kind of think in hypotheticals, like what would happen? It's fascinating, but I think it’s for the best that no one touches it and it doesn't move.
Okay before Bitcoin and before that long journey in e-commerce, a long time ago, you worked as a cook, didn’t you? Crypto and food are my two passions, so I’m gonna have to ask you for some culinary “alpha leak” as a former kitchen professional.
Oh my god, I love cooking! It's my favorite pastime. I love throwing dinner parties. My first job, when I was 15, was as a cook – my first real job. I was building software on the side. But my parents were like, “Okay, go get a real job at a restaurant”. And yeah, I started working as a cook and had a really good time, learned a lot about cooking. My family really loves cooking and it was a really cool experience.
Let’s see, some alpha ... I'm not typically a cookbook person, but I got a really good cookbook that I've learned a lot from, it's "The Food Lab" by J. Kenji López-Alt. It's very digestible – no pun intended – molecular gastronomy. It teaches you the science of cooking, which gives you this really good understanding of everything. It teaches you the basics of where proteins break down, and how to cook eggs and mother sauces.
I think it teaches you the basics, so that you can extrapolate into other things and get really comfortable in the kitchen. Because once you know the science of cooking, I think it makes all cooking and sort of the experimentation behind cooking really easy. Thank you for asking that! What do you like to cook?
Oh, I mostly cook Turkish stuff – I’m originally from Turkey – and I also like Asian stuff like Thai or Sichuanese. And also lots of French classics.
Turkish food - amazing. Too late in my life, I learned and started to enjoy Turkish breakfast!
And in Thailand of all places! There was this Turkish family that opened up an incredible Turkish restaurant outside in Phuket, and I had been eating Thai food for two weeks. This place was highly reviewed randomly, I went there and just had one of the best meals in my life. And then the people there were so kind and so friendly. Their Turkish family was visiting, it was just a really cool, communal event. And I was like, “Oh, wow, I have to get into Turkish food.” So now I'll go and I'll seek out Turkish breakfast if I see a good spot.
That's amazing. So an American trying Turkish food in Thailand. That's globalization for you, right?
Exactly. Yeah, it's pretty crazy. || Markets tumble as panic grows over China's zero Covid collapse: Markets tumbled across the world on Monday as fears of a new Chinese lockdown sparked panic buying in Beijing.
Around £40bn was wiped off the FTSE 100 which dropped 1.9pc, amid concerns over a wave of draconian restrictions to prevent the collapse of China's zero Covid policy.
Economists warned the world’s second-largest economy may already be in recession, with pain likely to spread to the rest of the globe.
US crude oil fell below $100 a barrel and iron dropped as much as 11pc on expectations of a drop in demand as factories around China are shut for weeks, potentially sparking another wave of severe shipping disruption that will cause goods shortages in the West.
Germany's DAX fell 1.5pc and the French CAC closed down 2pc, on the day of Emmanuel Macron’s reelection.
Wall Street traded down for much of the day but swung back into the green late on as investors cheered the Twitter deal. The S&P 500 added 0.6pc.
Earlier in the day Shanghai’s CSI 300 fell 5pc to its lowest close in two years.
China is struggling to contain a wave of omicron infections that risk ruining its efforts to keep the country Covid free. Restrictions are already being imposed heavily in Shanghai and other manufacturing hubs, and the authorities announced late on Monday night that they intend to test the entire population of Beijing for Covid three times in a week
Craig Botham, of Pantheon Macroeconomics, estimated that the Chinese economy shrank by 0.5pc in the first quarter of the year and will contract by another 0.6pc in this quarter, meaning it is already in recession. He expects official Chinese figures, which do not always properly account for inflation, to show GDP flatlining in the second quarter.
Mr Botham said the shock from China is “an inflation hit waiting to happen” for the West.
It will be felt across global supply chains “as there is nothing that China doesn’t touch in terms of production. It is going to be everything.”
He said: “You could imagine potentially there might be some offsetting factors because if China is not using shipping, it frees that shipping up for other countries, so other orders might finally arrive from Japan, Korea, Taiwan.
“But then a month or two down the line those factories in those countries are themselves reliant on inputs from China. They will find their production interrupted. It is the kind of thing which builds up and gets worse - April, May, June, I imagine it will get steadily worse, in terms of the pressure on input costs and the drag on activity.”
According to data from consultancy Windward, around a fifth of the global container shipping fleet is currently stuck in congestion at global ports, with around a quarter of those in China.
Jacques Vandermeiren, chief executive of Port of Antwerp-Brugges, said the car industry is particularly vulnerable to delays.
He said: “Shanghai is the biggest port in the world. It's also the port that exports different goods to the world. And especially when it comes to the automotive industry.
“The whole car industry will have to wait before releasing new cars. And you'll see already if you want to buy a new electric vehicle the waiting time is now going from six or seven months to one year. That's an immediate consequence of this.”
John Glen, an economist at the Chartered Institute of Procurement and Supply, said the issues at Chinese ports would “almost undoubtedly” cause problems for British manufacturers.
“It may affect the range of choice of products that we have in our shops,” he said, adding that an “absolute” lack of products looked unlikely. He said there was “no cause” for panic buying in Europe.
British companies are scrambling to bring production closer to home, said Martin McTague, national chairman of the Federation of Small Businesses.
He said: “One in seven firms is having to adjust their supply chains to get the goods they need or find prices that are affordable."
“It’s yet another aspect of operations to worry about as they wrestle with surging utility, fuel and tax costs as well as labour shortages.”
That's all from the live blog today, thank you for following! Before you go, have a look at the latest stories from the business team:
• Elon Musk ‘on brink’ of striking Twitter deal today
• British and Nordic vineyards ‘can end the era of champagne’
• Just Eat accused of misleading shareholders
• What China's lockdowns mean for British consumers
• Macron's five economic priorities as he faces a challenging second term
Podcast distributor Audioboom said it more than doubled its revenue last year and made a profit for the first time.
The business said revenue reached $60m (£47m) over the year, up 125pc compared to the year before. Profit hit $1.7m from a $3.3m loss previouslu.
Since the year ended the business has also improved its performance, with revenue 107pc ahead in the first three months of 2022.
The majority of UK retail investors are indifferent to whether their money goes into ethical investments despite a push by companies to boost their environmental and sustainable credentials, research has revealed.Louis Ashworthreports:
Research by brokerage Charles Schwab found 66pc of British retail investors do not care whether their investments are sustainable.
Commodity stocks and banks led a near 2pc drop in the FTSE 100 today as fears of a global economic slowdown sapped sentiment at the start of a week loaded with corporate earnings.
After falling as much as 2.4pc, the blue-chip index pared some losses to close down 1.9pc at 7,380, its lowest in more than five weeks.
Oil majors BP and Shell and miners were among big losers on worries that prolonged Covid lockdowns in China would weigh on demand for metals and crude oil.
"Having spent most of the last few weeks trying to put to one side concerns about events in eastern Europe, a slowdown in China, and the increasing risks of what inflation might do to company earnings, as well as consumer incomes, the final straw appears to be a concern about the prospect of a policy mistake by central banks, and a possible recession by the end of the year," said Michael Hewson, chief market analyst at CMC Markets UK.
Urban-Air Port, a British start-up that’s developing hubs for flying taxis, is closing in on £20m in funding after attracting two new equity investors.
Canadian services firm Dymond Group will invest in the infrastructure business while a European real-estate operator is also planning to back the company. Minority shareholder Hyundai bought a stake earlier this year.
Urban-Air Port has doubled its Series A fundraising goal from an initial £10m amid burgeoning interest in the sector. Manufacturers of electric vertical takeoff and landing craft, or flying taxis, are looking to enter service in the next few years.
Shoppers face being forced to pay more for goods such as chocolate and lipstick after the world’s biggest palm oil producer curbed exports.Louis Ashworthhas more:
Indonesia will halt exports of bulk and package palm olein, a liquid form of the staple ingredient, according to reports.
Facebook owner Meta is opening its first ever retail store in California, hoping to introduce people to virtual reality worlds with a try-before-you-buy approach.
The Meta Store will open on May 9 in Burlingame, California, and showcase the company’s hardware products. Visitors are encouraged to “interact with everything” including the Portal video calling hub, Quest 2 virtual reality goggles and Ray-Ban Stories smart glasses.
Tech firms have regularly set up -- then shut down -- physical shops. In 2020, Microsoft said it would shut down its store locations permanently but continue to invest in online sales. In March Amazon said it would close its physical bookstores, “Amazon 4-Star” locations and mall pop-up kiosks as the world’s largest online retailer narrows its brick-and-mortar push to the grocery sector.
Hundreds of millions of pounds is set to be funnelled into Cambridge start-ups as investors flock into university cities after years of concerns that too little academic research is being formed into commercial businesses.Hannah Bolandwrites:
Cambridge Innovation Capital said it had raised £225m to invest into businesses in the city including into university spin-outs.
That's all from me today – thanks for following!Giulia Bottarowill take over from here.
Property giant British Land has sold a 75pc stake in its Paddington Central development to Singapore's sovereign wealth fund GIC in a £694m deal.
British Land, which retain a 25pc stake, said the deal was worth 1pc below its book value from September.
The FTSE 100 firm originally purchased the development as three buildings and a cluster of nearby retail, leisure and development sites in 2013 for £470m. It grew the project with the later acquisition of neighbouring 1 Sheldon Square for £210m.
The completion of the transaction is unconditional and will be within three months, British Land said. Shares in the company slipped 0.9pc.
From cheaper petrol to more expensive patio furniture, China's Covid lockdowns are causing ripple effects across the globe
But what exactly does that mean for consumers?Matt Oliverexplains how it could affect you:
What China's lockdowns mean for British consumers
Barclays is said to have enjoyed a surge in emerging markets trading last quarter, with revenue climbing to about £500m as the war in Ukraine sparked turbulence.
The bank's traders seized on turbulent currency markets and big moves in credit-default swaps, Bloomberg reports.
The trading boost suggests Barclays may have navigated a quarter during which banks cashed in on higher activity but also faced a heightened risk of losses.
It should help the lender offset a decline in dealmaking activity, although it's already admitted a £450m hit from overselling US products to investors.
Barclays is due to report its quarterly results on Thursday.
Vineyards in northern Europe can smash the dominance of champagne and prosecco as global temperatures rise, the head of England's largest winemaker has said.
Hannah Bolandhas more:
Around 200m bottles of sparkling wine are sold in the UK every year, with just under half of that Italian prosecco and around a third French champagne.
Read Hannah's full story here
Twitter has pushed higher in early trading on Wall Street amid reports the company is poised to accept Elon Musk's $43bn takeover bid.
Bosses initially resisted the Tesla chief's approach, but reports suggest they could agree a deal in the coming hours.
Shares rose as much as 3.9pc, before falling back to gains of around 3pc.
Read more on this story:Elon Musk ‘on brink’ of striking Twitter deal today
As expected, Wall Street has followed the FTSE 100 into the red as China's Covid outbreaks spooked investors already concerned about surging interest rates.
The S&P 500 opened 0.4pc lower, while the Dow Jones was down 0.2pc. The tech-heavy Nasdaq dropped 0.7pc.
Amid reports that Elon Musk is on the brink of securing his takeover of Twitter, the billionaire has used the social media platform to launch an attack on the Securities and Exchange Commission (SEC)
The Tesla tycoon described employees at the San Francisco office of the regulator as "shameless puppets of Wall St shortseller sharks".
The comments are a reference to a dispute between Mr Musk and the SEC following his claim on Twitter that he'd secured funding to take Tesla private at $420 per share. Mr Musk and Tesla were both fined $20m and he lost his position as chairman of the company.
But the world's richest man has now doubled down on his defence, insisting the head of Saudi Arabia's sovereign wealth fund had "committed unequivocally" to take Tesla private.
Burger King is aiming to open 200 more UK restaurants over the next five years amid strong demand for the fast food favourite.
The fast food chain said its continued expansion strategy over the past year helped it post rising revenues in 2021, while it also benefited from the easing of pandemic rules.
It said total revenues climbed by 68pc to £211.7m as like-for-like sales lifted by 46pc. It swung to a £33.4m operating profit for the year, compared with a £7.5m loss in 2020.
Burger King UK said it also benefited from the addition of 48 new owned restaurants last year.
It said this included 19 new restaurant openings as well as the acquisition of 29 sites from franchisees, including its flagship Leicester Square location.
The company said it plans to open 200 more sites by 2026 and already has "good visibility" regarding a pipeline of potential locations.
Private equity firms including CVC Capital Partners and KKR are said to be weighing up bids for Toshiba after the Japanese conglomerate said it would open the door to potential buyers.
Bain Capital is also among the potential suitors that have held talks with Toshiba and its partners, Bloomberg reports.
The discussion suggests there's significant interest among buyout firms for the troubled firm, where management and shareholders have been at odds for years over the company’s future.
Bosses had originally pushed back against a sale and proposed instead splitting the company in two, but shareholders voted against that strategy last month.
A takeover of Toshiba, which has a market capitalisation of almost $18bn, could be the biggest ever private equity deal in Japan.
Facebook has accused the UK competition watchdog of being "inconsistent" and "irrational" when it concluded Giphy was a rival in the display advertising sector.
Lawyers for the company, now known as Meta, said at the start of a trial in London that despite the Competition and Markets Authority (CMA) reviewing over 280,000 documents from the companies, not one showed them to compete in the ad market globally or in the UK.
Meta is trying to overturn the CMA's decision to block its $315m takeover of Giphy.
The lawyers argued that nobody apart from Meta was prepared to offer a suitable price for the GIF maker. They said Snap was considering a bid for Giphy but only made an informal, verbal offer valued at $142m.
Twitter is in the final stage of discussions with Elon Musk and is said to be poised to reach an agreement over a potential takeover as early as today.
The social media company is working to hammer out terms of a transaction, Bloomberg reports.
It follows reports that Twitter's board was "more receptive" to Mr Musk's $43bn (£33bn) takeover offer.
Read more on this story:'Empty-handed' Twitter enters talks with Elon Musk over $43bn bid
P&O Ferries is reportedly planning to resume operating between Dover and Calais in the coming days amid accusations it attempted to further reduce the wages of its seafarers.
The firm is selling tickets for cross-Channel sailings on its ship Spirit of Britain, with the first departure at 4.25am on Wednesday from the Kent port, PA reports.
It will be first time it has operated a ferry on the route since it sacked nearly 800 seafarers without notice and replaced them with cheaper agency workers on March 17.
Spirit of Britain was detained by the Maritime and Coastguard Agency on April 12 after safety issues were found, but was cleared to sail on Friday.
Meanwhile, Rail, Maritime and Transport (RMT) union general secretary Mick Lynch claimed P&O Ferries has been "prevented from further cutting the pay of vulnerable agency crew" by "pressure from RMT seafarers".
The firm, owned by Dubai-based logistics giant DP World, insisted no agency workers were asked to take a pay cut.
Wall Street looks set to follow the FTSE and Asian stocks into the red when markets open this afternoon.
US futures fell, pointing to extended losses for the benchmark S&P 500 after it shed 2.8pc on Friday to hit the lowest level since mid-March.
The threat of another lockdown in Beijing has rattled investors, with global stock markets slumping and oil prices dropping 5pc.
Futures tracking the S&P 500 and Dow Jones both fell 0.8pc. The tech-heavy Nasdaq lost 0.7pc.
Sterling has extended its losses against the dollar as investors rush to safe haven assets amid fears about China's fresh Covid lockdowns.
The pound dropped 1pc to hit $1.2711 – its lowest in a year and a half.
Here's some more on China's economic woes, courtesy of my colleagueTim Wallace:
Craig Botham at Pantheon Macroeconomics estimates the world’s second-largest economy shrank by 0.5pc in the first quarter of the year and will contract by another 0.6pc in this quarter.
Almost £50bn has been wiped off London's biggest listed companies as China's lockdown woes rattle global markets.
The FTSE 100 is down 2.2pc, while the FTSE 250 shed 1.8pc. The losses mean the biggest 350 firms have lost £49.7bn in market value.
The Government has announced plans to roll out further import bans and tariff increases on Russian goods, taking the total value of goods targeted to more than £1bn.
The new sanctions. will include import bans on silver, wood products and high-end products from Russia including caviar.
Tariffs will also be increased by 35 percentage points on around £130m worth of products from Russia and Belarus, including diamonds and rubber.
International Trade Secretary Anne-Marie Trevelyan said:
The UK continues to stand shoulder-to-shoulder with Ukraine and is working closely with our international partners to inflict maximum damage to Putin’s regime, reducing the resources and funds he needs to carry out this illegal war.
Bitcoin has extended this month's losses as investors shied away for risky assets amid a Covid outbreak in China and the threat of Federal Reserve interest rate rises.
The largest cryptocurrency fell as much as 3.2pc to $38,236 – the lowest since March 15 and down more than 20pc since last month's high.
The second biggest digital coin Ether slumped as much as 2.8pc to $2,799, its lowest since March 18.
Analysts at Nydig wrote: "As it becomes more valuable to hold dollars, some investors may reallocate from Bitcoin or gold to the dollar. Like the negative correlation of Bitcoin to the dollar, the negative correlation to Bitcoin to real rates has only emerged in the last couple of years."
UK manufacturers have raised prices at the fastest pace in more than four decades as they scramble to cover soaring raw material and energy costs.
The CBI's latest survey of the sector found companies ranging from food producers to car manufacturers suffered major cost pressures in the first three months of the year, with the crisis set to deepen.
Costs jumped the most in almost half a century. Meanwhile, demand eased, investment intentions weakened and optimism fell more sharply than at any time since the pandemic began.
While the FTSE 100 languishes in the red, it's also been a bad morning for sterling.
The pound has dropped 0.8pc against the dollar to $1.2732 – its lowest since September 2020. Against the euro, it shed 0.1pc to 84.22p.
Markets are rushing to safe haven assets such as the dollar as China's deteriorated Covid situation threatens to further derail the global economic recovery.
Steven Barrow, analyst at Standard Bank, said:
The dark clouds of recession are starting to hang over many advanced countries right now, but it seems to us that the UK is at greater risk than most and this clearly puts UK assets like stocks and the pound in the dock as well.
Advertising giant WPP has launched an end-to-end ecommerce platform to handle the logistics and delivery of products sold by its clients.
The FTSE 100 group set up direct-to-consumer sites for brands when the pandemic shut most shops. Its new division Everymile will expand this offer to handle the entire process from attracting a customer to delivering the product to their door.
It will pit WPP, which was founded by Sir Martin Sorrell, against new rivals including beleaguered online retailer The Hut Group.
Everymile will have a revenue share commercial model. It will be overseen by WPP's finance director John Rogers, former Argos chief executive and finance director at Sainsbury's.
Oil prices have slumped 5pc this morning amid fears a fresh Covid outbreak in China could hammer demand.
Benchmark Brent crude crashed to just above $101 a barrel, while West Texas Intermediate was trading at $97.
Fears are mounting that Beijing could follow Shanghai into lockdown as Beijing pursues its strict zero Covid strategy.
Shoppers have begun panic buying after authorities began mass testing of all residents.
Natural gas prices pushed higher this morning, with traders still focused on Putin's demand that European nations make payments in roubles.
Benchmark prices rose as much as 5.7pc before paring some of the gains. Supplies from Norway are set to increase, but remain about 10pc below last month's average du to major maintenance work.
Forecasts for cooler weather over the next few weeks is also pushing up prices.
But there main uncertainty remains over whether a resolution can be found for the Kremlin's demands. The EU has said it won't pay for gas in roubles, while Putin has threatened to turn off the taps if his demands aren't met.
Around nine in 10 UK adults reported an increase in their cost of living over the last month in March amid a jump in energy bills and higher prices for a range of consumer goods.
Nearly a quarter said it was difficult or very difficult to pay their usual household bills in the last month compared to a year ago, according to the ONS.
There was also a grim outlook for the year ahead. Among all adults, 43pc reported they would not be able to save money in the next 12 months. That's the highest percentage since this question was first asked in March 2020.
British companies are guilty of "significant shortcomings" in their modern slavery reporting and many are breaking the law.
That's according to the Financial Reporting Council, which found one in 10 firms did not provide a modern slavery statement despite it being a legal requirement.
It added that most of those that did were "particularly poor" at setting out how they measure steps to minimise the risks.
The FRC report found that companies may be reluctant to disclose their performance on modern slavery because they worry it may harm their reputation.
However, not doing so risks additional costs as shareholders demand more transparency and the UK puts more regulator focus on the issue.
German business confidence unexpectedly improved this month as companies appeared to overcome the initial shock of Russia's war in Ukraine.
A closely-watched survey from the Ifo Institute rose to 86.7 in April from 84.9 in March, outstripping expectations of a decline.
The surprise improvement comes even as German firms grapple with supply chain troubles and a sharp rise in costs as a result of the war. The conflict has also mounting more pressure on household budgets.
Pressure is mounting on Chancellor Olaf Scholz to agree to sanctions on Russian gas – a move he's resisted, saying it could spark large-scale job losses and fuel inflation further.
Clemens Fuest, President of Ifo, said:
Sentiment in the German economy has stabilised at a low level. After the initial shock of the Russian attack, the German economy has shown its resilience.
A group that secured a Dutch court order against Shell forcing the energy giant to cut its emissions further has warned the company's board of possible personal responsibility if it fails to implement the verdict.
The Hague District Court last year ordered Shell to reduce carbon emissions produced by it, its suppliers and customers by 45pc by 2030 from 2019 levels – a landmark decision that could have implications for energy companies around the world.
Shell is appealing against the ruling.
The group Friends of the Earth/Milieudefensie said it sent a letter to the company's boards and individual representatives – including chief executive Ben van Beurden – saying it was not acting to implement the verdict.
In the letter, seen by Reuters, the group wrote:
Shell has appealed, but the court declared the judgment provisionally enforceable, which means the necessary climate action cannot be suspended pending the appeal.
The FTSE 100's woes have deepened, with losses extending to 2pc.
Energy and mining stocks remain the biggest drags on the blue-chip index, as China lockdown jitters fuel concerns about demand.
Banking stocks have also taken a hit, with investors expecting the Federal Reserve to start lifting US interest rates aggressively to tackle inflation.
McColl's shares were in freefall this morning after the convenience store chain issued a glum update.
The company crashed 50pc after it said its shares were unlikely to benefit from a potential financing that could help it resolve short-term funding issues.
The cash-strapped firm also forecast weak annual profit following lower consumer spending over the Easter period and supply troubles.
The London-listed firm expects to delay the publication of its full-year results until the financing talks are resolved.
Sky News reported that partner Morrisons is considering options to deal with the financial struggles of McColl's.
The company, which operates more than 1,100 convenience stores, said it was in talks with its wholesale partners to mitigate the product availability issues as shortages of its key products intensified last year.
The City watchdog is using emergency powers to prevent financial advisers who gave unsuitable advice to members of the British Steel Pension Scheme from disposing of assets to avoid paying compensation.
The Financial Conduct Authority (FCA) has introduced the asset retention rules without consultation because of the "risk that some firms will take steps to get rid of their assets if the rules were consulted on first".
The temporary measures apply to companies that advised five or more BSPS members to transfer out of the pension scheme between May 2016 and March 2018.
The regulator has set out plan to compensate former members of the scheme after finding almost half of the advice given to steelworkers using the plan by financial advisers were unsuitable.
The FCA said it expects £71.2m of compensation to be paid to individuals who lost out after exiting the defined pension plan.
The FTSE 100 has slumped to its lowest level in five weeks, taking its cue from a dramatic sell-off on Asian markets overnight.
The blue-chip index fell as much as 1.7pc to its lowest since March 18, with 96pc of its constituents in the red.
Energy and commodity stocks were the biggest drag on the index, as the prospect of more lockdowns in China sparked a drop in oil and metal prices.
Oil giantsBPandShellwere down 3.9pc and 3.1pc respectively.Glencoreshed 6.1pc, whileAnglo AmericanandRio Tintoshed 5.9pc and 2.4pc.
Banks also lost ground amid concerns the US Federal Reserve will start to lift interest rates aggressively.HSBCandStandard Charteredwere both down more than 2pc.
Russian minerPolymetal Internationalbucked the sombre mood, jumping as much as 9pc after it reported an increase in revenue thanks to higher gold prices.
The domestically-focused FTSE 250 lost 1.3pc.
An activist investor has launched a fresh assault on Just Eat Takeaway's board, urging other investors to oust the firm's finance boss and several other directors.
Cat Rock Capital, which holds an almost 7pc stake in the delivery company, has long called for a shake-up of the firm but stepped up its assault after a disappointing trading update last week.
In an apparent concession to Cat Rock's demands, Just Eat also said last week it's looking to sell its US arm Grubhub, less than two years after agreeing to buy the operation in a £5.75bn deal.
In a new statement, Cat Rock said the firm made a "mistake" by buying Grubhub and must change its leadership team to help "rebuild it credibility".
Chinese stocks have suffered their biggest slump since the first Covid lockdown as resurgence of the virus in Beijing rattled investors.
The CSI 300 index fell 4.9pc, marking its biggest decline since February 2020. The Shanghai Composite shed more than 5pc, while the Shenzhen Composite dived 6.5pc. Hong Kong's Hang Send index lost 3.9pc.
As expected, the FTSE 100 has dropped sharply at the opening bell amid wider turmoil on global markets.
The blue-chip index slumped 1.5pc to 7,406 points.
The UK house market boom just keeps going, with prices hitting a record high for a third straight month.
A shortage of supply has so far outweighed rising interest rates and the cost-of-living crisis, although analysts have warned the growth is likely to slow later this year.
Average prices hit £360,101 in April – up 9.9pc from a year ago, according to the latest data from Rightmove.
Asda is planning to spend more than £73m to help customers and staff weather the cost-of-living crisis over the next year.
The supermarket chain said it's reducing the price of more than 100 popular items as part of the measures. It will also increase the hourly fate of pay for shop-floor workers to £10.10 from July.
It comes after rival Morrisons said it would slash the price of more than 500 staple items.
Mohsin Issa, co-owner of Asda, said:
We know that household budgets are being squeezed by an increasing cost of living and we are committed to doing everything we can to support our customers, colleagues and communities in these exceptionally tough times.
Good morning.
Markets are set to begin the week firmly in the red as fears over surging inflation, slowing economic growth and lockdowns in China all hit sentiment.
Asian markets tumbled overnight, with Chinese stocks on track to hit their lowest level since May 2020.
The FTSE 100 was set to follow suit, while European stocks also pointed lower despite relief about French President Emmanuel Macron's election victory.
The negative mood music comes as the Federal Reserve prepares to lift interest rates to tackle red-hot inflation, while ongoing lockdowns in China sparked demand fears and dragged down oil prices.
1)British Airways to base cabin crew in MadridThe UK flag carrier is to open a cabin crew base in Madrid as bosses scramble to avoid the recent travel chaos lasting throughout the summer
2)Russian sanctions are set to cost the UK economy £6bn over nine yearsOfficial analysis of the trade measures issued earlier this month has found the restrictions will deal a multi-billion pound blow to the economy over the next nine years
3)Ukraine urges Johnson to ensure ‘not a drop’ of Russian oil reaches the UKWhitehall has given UK buyers until the end of the year to adjust to the Russian oil ban
4)Live music royalties fall again as industry fails to recover from pandemicRevenues from live performances hit £54m in 2021, 38pc lower than the £85m recorded in 2019
5)Twitter 'more receptive' to Elon Musk takeover planTwitter and Mr Musk were meeting on Sunday to discuss the deal, according to the Wall Street Journal
Asian markets sank Monday on growing concerns of a sharp hike in US interest rates as officials struggle to contain runaway inflation, while oil was hit by expectations Chinese demand will dry up owing to Covid lockdowns. Hong Kong, Shanghai and Taipei all fell more than two percent, while Tokyo, Seoul, Singapore, Manila and Jakarta were also deep in the red.
Corporate:Polymetal International(interim results)
Economics:Rightmove house price index(UK), construction output(EU), Chicago Fed National Activity Index(US)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 36040.92, 35501.95, 34059.27, 30296.95, 31022.91, 28936.36, 29047.75, 29283.10, 30101.27, 31305.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-07-13]
BTC Price: 9243.61, BTC RSI: 48.61
Gold Price: 1811.00, Gold RSI: 64.49
Oil Price: 40.10, Oil RSI: 57.97
[Random Sample of News (last 60 days)]
Market Wrap: Traders Buy the Dip and Bitcoin Holds at $9,200: A small bitcoin dip down to $9,100 recovered, but traders are unsure about further price appreciation. Bitcoin (BTC) trading around $9,240 as of 20:00 UTC (4 p.m. ET), gaining 0.25% over the previous 24 hours. Bitcoin’s 24-hour range: $9,118-$9,245 BTC below 10-day and 50-day moving average, a bearish signal for market technicians. The market at $9,200 per bitcoin erased gains earlier in the week when the world’s oldest cryptocurrency popped to $9,400 Wednesday. “Two days ago, bitcoin rallied 1.9% then dropped 2.1% and is now flat. Just another failed breakout,” said Elie Le Rest, partner at quantitative trading firm ExoAlpha. Still, traders buying when prices dip isn’t providing enough momentum to significantly move the market higher, Le Rest added. “There’s less and less amplitude to move, so we should see in the next couple of days how this resolves.” Several traders pointed to $9,400, where momentum might turn into a bullish market. “The price of bitcoin again returned to the range of $9,000-$9,200 after the asset again failed to pass a key level at $9,392,” said Constatin Kogan, a partner at cryptocurrency fund BitBull Capital. Indeed, since the start of July bitcoin has struggled to break out of $9,000-$9,200 territory. Related: Compound Tops $1B in Crypto Loans as DeFi Farmers Keep Digging for Yield Josh Rager, a trader and adviser of crypto brokerage LevelInvest , says it will be hard to get back to Wednesday’s $9,400 price range for the time being. “I think bitcoin drops short of $9,400 to make another lower high on the trend,” he said. However, bets in the options market overwhelmingly favor bitcoin higher than $9,200, with options on $11,250 per BTC especially popular. Nonetheless, options volumes continued to trend down, changing the trader profile, noted Vishal Shah, founder of Alpha5. “This is only traders that play options on the high-end of the risk spectrum,” Shah said. Story continues Read More: Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Related: Drop in Bitcoin 'Whale' Addresses Suggests Market May Be Decentralizing ExoAlpha’s Le Rest predicted a wide range where price might head into the weekend and beyond. “We’re pretty neutral as it could really go both ways – up to $9,450 on way to tackle $10,000 once again, or down to $8,200,” he said. Bitcoin locked in DeFi up 200% The second-largest cryptocurrency by market capitalization, ether (ETH), was flat Friday, trading around $239 and in the red 0.10% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Ether is up 84% in 2020, outperforming bitcoin’s 28% year-to-date gains. The amount of bitcoin on DeFi, which mostly runs on the Ethereum network, has risen from 5,000 to 15,000 BTC in the past month. That is a 200% increase, according to data aggregator DeFi Pulse. By locking bitcoin in DeFi, investors are able to earn a reward, or “yield,” without having to trade into another asset such as ether. In July’s low spot exchange volume environment, traders might be increasingly locking crypto rather than trading it. Read more: Nearly $60M in Bitcoin Moved to Ethereum in June Other markets Digital assets on the CoinDesk 20 are mixed Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET): decred (DCR)+ 6% monero (XMR) + 3% lisk (LSK) + 0.55% Read More: Kyber Token’s Eightfold Increase Reveals Bet on Future Notable losers as of 20:00 UTC (4:00 p.m. ET): dogecoin (DOGE) – 14% cardano (ADA) – 3% stellar (XLM) – 2.5% Read More: What Is Yield Farming? The Rocket Fuel of DeFi, Explained Equities: In Asia the Nikkei 225 ended the day down 1.06% as losses in the transportation and real estate sectors dragged the index lower. Europe’s FTSE 100 index closed in the green 0.80% as financial sector stocks led gains for the day . The U.S. S&P 500 index gained 1%, with record highs in tech stocks and optimistic news on a possible coronavirus treatment . Read More: Coinbase Plans First-Ever Investor Day Amid Talk It May Go Public Commodities: Oil is up 2.2%. Price per barrel of West Texas Intermediate crude: $40.49. Gold is still around $1,800 Friday, flat in the red 0.10% at $1,799 per ounce. Read More: A Rare Glimpse Into How Crypto Is Really Used in Venezuela Treasurys: U.S. Treasury bonds were mixed Friday. Yields, which move in the opposite direction as price, were up most on the two-year, in the green 2.9%. Read More: The Fed’s Declining Balance Sheet Is Bearish for Bitcoin. Or Is It? Related Stories Market Wrap: Traders Buy the Dip and Bitcoin Holds at $9,200 Market Wrap: Traders Buy the Dip and Bitcoin Holds at $9,200 || Mapping the Future of the SEC (There’s a Nonzero Chance Hester Peirce Takes Over): The future of the U.S. federal securities regulator, and perhaps the direction of cryptocurrency policy, is up in the air. Last week, President Donald Trump announced his intention to nominate Securities and Exchange Commission Chairman Jay Clayton to the post of U.S. Attorney for the Southern District of New York, asking Congress to approve the one-time corporate lawyer to become one of the nation’s most powerful financial crimes prosecutors. If – and that is a big if – he is confirmed to become the new U.S. Attorney for the Southern District of New York, the president will likely appoint one of the remaining SEC commissioners as acting chair until Clayton’s successor is confirmed. Related: AML Bitcoin Founder Claims DC Lobbyist Jack Abramoff, US Government Are 'Extorting' Him Traditionally, the acting chair is the senior-most commissioner who belongs to the same party as the president, said Jerry Brito, Executive Director of industry advocacy group Coin Center. In this case, that would be Commissioner Hester Peirce , known to many as “Crypto Mom” for her open-minded stance on the technology. In other words, there is a possible timeline ahead where three of the top U.S. financial regulators – the SEC , the Commodity Futures Trading Commission and the Office of the Comptroller of the Currency – would be headed by industry-friendly faces. Already, CFTC Chairman Heath Tarbert has taken steps to bring some regulatory clarity to crypto, approving ether futures and defining certain regulatory questions. Acting Comptroller Brian Brooks , who began the year at Coinbase, proposed a federal payments charter for crypto exchanges just weeks into his then-deputy role. Calm down, though. “Possible” does not mean “probable.” It does not mean “likely.” And it sure doesn’t mean “guaranteed.” Related: New York Regulator Adds 3-Strike Rule for BitLicense Applicants Story continues For one thing, Clayton’s nomination is contentious , and he might well not be confirmed to the new role, for reasons explained below. Further, the succession pattern Brito described is “not automatic,” he said. “There’s no rule that makes it automatic. That’s just custom.” It is also possible Commissioner Elad Roisman could get the nod. Commissioner Allison Herren Lee, a Democrat, is unlikely to become acting chair, owing to her party affiliation. At stake is the potential future for crypto regulation. Clayton has at various points in time expressed concerns about market manipulation and maturity, security and consumer protection. Peirce, in contrast, has advocated for a more relaxed approach, and has come out in favor of exchange-traded funds (of which Clayton’s SEC most definitely is not) and a safe harbor for crypto token projects to build before having to consider securities laws. D.C. Drama U.S. Attorney General William Barr announced June 19 that Clayton would take over for the now-former U.S. Attorney, Geoffrey Berman, who Barr said was stepping down. Berman immediately announced he was not stepping down, to which Barr responded that President Trump had fired him, to which the president said he hadn’t. Ultimately Berman resigned on June 20. A spokesperson for Clayton did not respond to a request for comment. However, Clayton said during previously scheduled congressional testimony he did not believe the nomination process would distract him from running the SEC. He said he put his name forward for the U.S. Attorney role around June 12, a week before Barr announced the nomination, but that he would remain “fully committed” to the SEC until the Senate moved on his nomination. “It was entirely my idea. It’s something I’ve been thinking about for several months as a continuation of my public service,” he said. “It’s a position that’s very attractive to me.” Seth Bloom, a longtime general counsel to the U.S. Senate Judiciary Committee’s Antitrust Subcommittee, told CoinDesk that Democratic senators are unlikely to approve moving Clayton’s nomination to the Senate floor. It’s “very unlikely” Clayton is confirmed, he said. The sentiment was echoed by two other Washington, D.C., insiders, one of whom pointed out there are few legislative days left before this year’s presidential election. “We’re not talking a lot of days before the election,” said one lobbyist, who works with lawmakers and asked for their identity to be withheld. “Congress isn’t going to be in town very much. It’s July and some of September.” If Trump wins the election, then “we can have a real conversation around that.” Blue slip Clayton’s nomination might also be held up by the Senate’s “blue slip” practice. Traditionally, when a candidate is nominated to a position requiring U.S. Senate confirmation, the senators representing the position’s home state turn in blue slips expressing an opinion of the candidate to the committee overseeing the initial process, in this case the Senate Judiciary Committee. “The senators aren’t likely to turn it in, they already said they wouldn’t ,” Bloom said, referring to New York’s Chuck Schumer and Kirsten Gillibrand, both Democrats. “The nomination is stymied right now unless they can convince Schumer and Gillibrand to turn in those slips.” Another D.C. insider said Senate Judiciary Committee Chair Lindsey Graham (R-S.C.) could ignore the blue slip tradition, but he has already said he wouldn’t and doing so “would be highly controversial.” Clayton hasn’t even been formally nominated. While Barr said the president intends to nominate the SEC chair, the White House still needs to prepare the paperwork. Typically the White House conducts a background check in preparation for formally nominating a candidate, though this might be easier given Clayton was vetted for his SEC role, the insider said. Other objections could include the fact that Clayton has never been a prosecutor, though he told Congress he oversees more than 1,000 enforcement agents at the SEC. Chester Spatt , a professor of finance at Carnegie Mellon and former chief economist at the SEC, told CoinDesk that Clayton does have experience managing complex financial issues and large teams dealing with these issues, both traits he could apply to running the U.S. Attorney’s office. What if? Back to the SEC: In the (by no means guaranteed) scenario where Clayton vacates the chairmanship, a full-time successor would need to be confirmed by the Senate, after being nominated by the president. Only one of the existing commissioners can be named acting chair; the president cannot designate a non-commissioner, such as an SEC staffer, to the post. “Whether he’ll nominate someone in the near term while [Clayton’s] nomination is pending is unclear to me,” Carnegie Mellon’s Spatt said. He told CoinDesk past and present commissioners and senior officials are likely places to look for a nominee to serve as the new chairperson, though that isn’t a formal requirement. Clayton himself was not an SEC staffer or commissioner prior to his nomination as chairman, Spatt noted. “There could be somebody who’s … running a securities practice in a law firm, or who has a major leadership role in a Wall Street firm or who has experience at the [Federal Reserve],” he said. “These are all places that would be natural places for a president to try and identify a potential chair.” Brito noted Peirce had recently been renominated for a second term at the Commission, meaning she will have to be confirmed regardless. If she happens to be named Chair after her Commissioner confirmation hearing, she will likely have to sit for a second hearing. “That doesn’t tell you anything about whether that makes her more or less likely to be appointed by the President to chair so don’t read anything into that but that’s just a fact that she’s going to go through her confirmation again in the next couple weeks,” Brito said. (Also, it’s actually possible the president doesn’t have the legal authority to name the SEC chair, but it’s just now accepted as tradition , tweeted Coin Center Director of Research Peter Van Valkenburgh after looking into how that role came about.) Related Stories Mapping the Future of the SEC (There’s a Nonzero Chance Hester Peirce Takes Over) Mapping the Future of the SEC (There’s a Nonzero Chance Hester Peirce Takes Over) || Latest Ripple price and analysis (XRP to USD): XRP is still in a clear downtrend as it moves into a typically low volume and unpredictable weekend of price action. The world’s fourth largest cryptocurrency, which has recently fallen behind Tether in the rankings , continues to struggle beneath the daily 200 moving average. It has only traded above the 200MA for 21 days over the past 11 months, indicating just how severely both long and short term momentum are forcing price to the downside. Interestingly, the 200MA is now at the lowest point since before XRP’s surge to its all-time high in January 2018. This means that although the wider picture is bearish, breaking above it would demonstrate a clear change in behaviour that could lead towards a long-awaited reversal. If XRP can begin to find an injection of interest from buyers, it could well start to rally to around $0.2279 before testing the yearly high at $0.3473. Closing a daily candle above $0.35 would mark XRP’s first significant higher low in more than two years, which would add to the bullish narrative. However, while XRP continues to trade below the 200MA it is almost impossible to be bullish, what’s more likely is continuation of the macro downtrend, which would see the $0.1479 level of support come back into the frame. Ripple CEO Brad Garlinghouse has adamantly defended the project over the past 12 months in light of alleged XRP token sales, with aggrieved investors blaming the sales for XRP’s slump in price. For more news, guides and cryptocurrency analysis, click here . Latest Ripple price Current live XRP price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents: US Dollar – XRPtoUSD British Pound Sterling – XRPtoGBP Japanese Yen – XRPtoJPY Euro – XRPtoEUR Australian Dollar – XRPtoAUD Russian Rouble – XRPtoRUB Bitcoin – XRPtoBTC Story continues About Ripple (XRP) Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money. Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More Ripple news and information If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started: https://coinrivet.com/ripple-ceo-brad-garlinghouse-hits-back-at-critics-xrp-is-not-a-security/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. || New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund: New York Digital Investments Group (NYDIG) raised $190 million from 24 investors for anotherbitcoinfund.
• The round of funding for the NYDIG Institututional Bitcoin Fund was disclosed to the Securities and Exchange Commission (SEC) Tuesday.
• NYDIG started raising for the Bitcoin Fund in 2018, according to thedisclosure filing.
• The New York-based asset manager did not disclose the fund’s proposed net asset value or any other details.
• Last month, NYDIG raised $140 million for a similar investment vehicle, the Bitcoin Yield Enhancement Fund.
• The asset managerhas helda New York BitLicense since 2018.
• Benjamin Lawsky, the former financial regulator who created New York’s BitLicense in 2015,joined NYDIGnearly a year before the bitcoin fund manager applied for, and received, that license.
• New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund
• New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund
• New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund
• New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund || Crypto.com’s Card Issuer Wirecard Files for Insolvency: In the wake of a $2.1 billion accounting scandal, Wirecard, whose business lines include issuing cryptocurrency payments cards for TenX and Crypto.com, has collapsed into insolvency. In a statement Thursday, the Munich-based card issuer said it had no choice other than to begin insolvency proceedings as it faced “impending insolvency and over-indebtedness.” “The Management Board has come to the conclusion that a positive going concern forecast cannot be made in the short time available. Thus, the company’s ability to continue as a going concern is not assured,” Wirecard said. Related: Crypto.com to Refund Clients as Wirecard’s Card Issuer Told to Cease Operations Wirecard’s share price tanked nearly 80% on the news. This comes just over a week after Wirecard, a former German blue-chip, admitted that it could not account for over a quarter of its balance sheet, around $2.1 billion. In a bombshell statement , the company said some employees may have inflated revenue in an attempt to mislead auditors. On Monday, CEO Markus Braun was arrested on suspicion of accounting fraud and market manipulation. See also: Crypto.com Rolls Out Visa Card to 31 European Nations Related: Bitcoin News Roundup for June 19, 2020 Wirecard has long been the primary card issuer for TenX and Crypto.com. A TenX spokesperson told CoinDesk this week that customer funds, both crypto, and fiat, had not been affected by the Wirecard scandal. “We are however monitoring the situation closely and are always evaluating the best options for our customers,” the spokesperson said. Crypto.com has steadfastly refused to comment. “We’re still staying totally silent on this,” its spokesperson told CoinDesk. CEO Kris Marszalek said on Twitter last week that user funds have not been affected by the Wirecard scandal because they’re held by a separate institution. “Wirecard does not have custody of any crypto held by Crypto.com,” he said. Story continues In a statement Thursday, he said Crypto.com would keep users updated as the situation develops and reiterated that user funds were safe Neither TenX nor Crypto.com responded immediately to requests for comment after the insolvency filing Thursday. UPDATE (June 25, 12:33 UTC): This article has been updated with a statement from Marszalek that was published on Thursday. Related Stories Crypto.com’s Card Issuer Wirecard Files for Insolvency Crypto.com’s Card Issuer Wirecard Files for Insolvency || Bitcoin IRA Is Ready to Take On Small Savers With Updated Retirement Savings Product: More than 2,000 vending machines in Australia and New Zealand will let customers buy a Coke with bitcoin. Coca-Cola Amatil , the Asia-Pacific bottling giant, has partnered with digital assets platform Centrapay to integrate bitcoin as a payment option from its vending machines across Australia and New Zealand. This means over 2,000 smart vending machines now accept cryptocurrency. The machines running the bitcoin transactions are owned by Coca-Cola Amatil, a regional bottler and distributor of Coca-Cola products. While the Atlanta-based soft drink producer is a major shareholder in the distributor, the two are separate companies. Transactions are conducted via New Zealand-based Centrapay and Sylo Smart Wallet , which currently has about 250,000 users. Newcomers can download the Sylo app on their smartphones, add bitcoin to their wallets and scan a QR code to purchase Amatil products. Sylo co-founder and business manager Dorian Johannink said the digital wallet can typically store, send and receive cryptocurrencies including bitcoin and ERC20-compatible tokens like its own SYLO listed on Hong Kong exchange KuCoin. But for the Coke scenario, its just supported for bitcoin initially for the trial run, but we may extend the functionality, Johannink said. Related: Coca-Cola Distributor Offers Bitcoin Payment Options for Aussie Vending Machines Buying a Coke with bitcoin sounds catchy, but the cryptocurrency has notoriously limited scalability, processing an average of 1 megabyte worth of transactions every 10 minutes, after which bitcoin miners prioritize transactions with higher fees. But Sylos main focus is not on bitcoin as a payment form, but on the vision of connecting crypto to the real world and using the architecture of this trial to roll out digital assets as payment tools more broadly. Centrapay announced the partnership on Twitter Monday, echoing Sylo in claiming it was the first step toward mainstream digital transactions. The future, as Sylo envisions it, will allow customers to purchase a digital asset in the real world, perhaps a Coke token, and use it to purchase products. Story continues Sylo has moved quickly in the last few months, going from adding bitcoin to its wallet back in March and listing its token on KuCoin, to a real-world trial run in crypto transactions. According to Centrapay CEO Jerome Faury, the initiative has already demonstrated it can work in Australia and New Zealand, and will be targeting the U.S. market next with some world-first innovations. Johannink said Faury has already established connections in the United States and there are plans to move things quickly, but the regional partnership is still in its nascent stages. Sylo is determined. Lets see how this initial run goes, Johannink said. People are testing it out now. If it goes smoothly, we can roll it out pretty quickly. Related Stories Binance-Backed Crypto Payments App Launches as Race for Africa Heats Up Researchers Surface Privacy Vulnerabilities in Bitcoin Lightning Network Payments || Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty: Higher-than-normal selling volume pushed bitcoin down in early trading Thursday before managing to recover.
Bitcoin(BTC) was trading around $9,297 as of 20:00 UTC (4 p.m. ET), slipping just 0.18% over the previous 24 hours.
At 00:00 UTC on Thursday (8:00 p.m. Wednesday ET), bitcoin was changing hands around $9,270 on spot exchanges such as Coinbase. Three hours later, heavy selling volume sent bitcoin down 3% to as low as $8,980. Bitcoin’s price is below its 50-day moving average, but above the 10-day. Such a combination is a sideways bearish signal for market technicians.
Related:DeFi Platform Opyn Launches Put Options on Compound Token
Read More:Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K
“We’re still in a tight trading range; $9,000 is the key to hold,” said Rupert Douglas, heading of institutional sales for crypto asset brokerage Koine. Bitcoin’s dip to below $9,000 is the first time that threshold was crossed since June 15. When it happened 10 days ago, just as on Thursday, the world’s largest cryptocurrency by market capitalization was able to bounce right back.
“The market seems to be taking a bit of a breather after testing $9,000 last night and bouncing pretty nicely,” said Dave Vizsolyi, head trader at Chicago-based crypto firm DV Chain. A massive amount of bitcoin options, to the tune of $1 billion, has traders thinking more volatility might be ahead. “I think the options and futures expiry tomorrow will continue to drive flows,” Vizsolyi added.
Read More:Bitcoin Options Market Faces Record $1 Billion Expiry on Friday
Related:Blockstream's Liquid Network Sent $8M in BTC Unsafely, Says Bitcoin Developer
George Clayton, managing partner of New York-based Cryptanalysis Capital, says he is concerned with economic data for the balance of 2020. Cryptocurrencies are not immune to traditional market gyrations.
“Crypto is currently acting like a risk-on asset and the technicals look sketchy,” Clayton said. “I see both of these elements as short-term bearish.” He pointed to the Atlanta Federal Reserve GDPNow forecasting a second-quarter U.S. economic contraction of an astounding 46.6% compared to the previous year. GDPNow’s estimate of GDP performance is based on its available data. It’s a significantly more bearish outlook than what most analysts are expecting.
“I’m quite bullish on bitcoin by this time next year,” said Neil Van Huis, of crypto liquidity provider Blockfills. “However, there could be a lot of whiplash in between. I guess that is the beauty of the markets.”
Although bitcoin is up over 28% this year, it hasn’t exactly been a smooth ride in 2020.
Despite being down as much as 32% on spot exchanges in March during the coronavirus-induced crash, June has had steadier bitcoin price movement. “I think there really is no real directionality in bitcoin at the moment,” said options trader Vishal Shah. “It seems $9,250-$9,300 has been a broader level of support, while $10,000 has been the top, with a few scattered breaches.” Most of crypto is “actually more fascinated with DeFi at the moment,” added Shah.
Ether(ETH), the second-largest cryptocurrency by market capitalization, was flat Thursday, trading around $233 and slipping 0.11% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
The total value locked in decentralized finance, or DeFi, surpassed $1.5 billion on June 21. The total amount of crypto assets in dollar value is now at $1.6 billion, fueled by thespeculative interest in lender Compound, which now dominates the DeFi world with a 37% market share, according to data aggregation site DeFi Pulse.
Read More:DeFi Startups on Compound Weigh What to Do With $200 COMP Tokens
Digital assets on CoinDesk’s big board are mostly red Thursday. Big losers on the day includedecred(DCR) dumping 2.2%,stellar(XLM) in the red 1.7% and neo (NEO) down 1.6%. One notable winner iszcash(ZEC) in the green 2.1%. All price changes were as of 20:00 UTC (4:00 p.m. ET).
Read More:Circle, Coinbase Bring USDC Stablecoin to Algorand’s Blockchain
In commodities, oil is up 2.5% Wednesday. A barrel of crude was priced at $38.98 as of press time.
Gold is flat; the yellow metal climbed 0.19%, trading around $1,764 for the day.
The Nikkei 225 index of companies in Japan ended the day 1.22% lower. While tech stocks made some gains,the index was dragged lower on selling in the manufacturing sector.
Europe’s FTSE 100 index was in the green, climbing 0.63%. Fears of acoronavirus resurgence sent stocks there lower in early trading, but late gains pushed the index higher.
The U.S. S&P 500 index gained 1%. A slight rally in late-day trading occurred due to optimism onthe U.S. Federal Reserve releasing positive banking stress test results.
U.S. Treasury bonds all slipped on Thursday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 11%.
• Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty
• Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty || Coinbase Outlines Tech Plan to Help Avert Future Outages: The world has been hit by cyberattacks from a shadowy organization, “Zbellion,” that funds itself through stealing fiat currencies from “the establishment” and converting it intobitcoin.
Don’t panic, though. That scenario is the premise for a war game from the U.S. military, designed in 2018 to prepare troops for future conflicts fought on computers rather than on the field.
Reported byThe Intercept, following a Freedom of Information request to the Pentagon, the headquarters of the Department of Defense, the 200-page document shows what the higher echelons of the U.S. military seem to be primarily concerned about with cryptocurrencies such as bitcoin.
The war game is set in 2025, when an organization based on the dark web, known as “Zbellion” exploits dissatisfaction in Generation Z – “Gen Z” – who, with poorer life chances than their predecessors, are increasingly disillusioned with American and Western society.
The group encourages Gen Z members to participate in a global cyberattack that steals money from organizations deemed to support “the establishment.”
The Pentagon document says stolen funds are funneled into bitcoin: “Zbellion uses software programs to route any proceeds [from the hacks] into laundering programs that ultimately convert national currencies into Bitcoin and make “small, below the threshold donations” to “worthy recipients” and, if Zbellion members claim financial need, to the member who conducted the attack.”
How exactly the Pentagon imagines Zbellion would convert fiat into bitcoin, whether through an exchange or using a peer-to-peer marketplace, isn’t elaborated in the document. It’s also possible war game designers used the term “Bitcoin” as shorthand for cryptocurrencies in general.
Related:Pentagon War Game Envisioned a Generation-Z Rebellion Funded by Bitcoin
See also:Biden May Not Be Savvy About Big Tech, but He Understands Cybersecurity
Of course, an international cyber conspiracy worth its salt wouldn’t pick bitcoin, or any other digital asset on a public blockchain, to funnel illegal funds. Being public means third parties, including the U.S military, can easily monitor transaction flows; being immutable means there’s little a hacking group, such as Zbellion, could do to retroactively obfuscate historical transactions.
Furthermore, cyber-surveillance companies, such as Chainalysis, have created increasingly sophisticated tools for identifying and tracking blockchain users.
Unsurprisingly, some ofChainalysis’s biggest clientscome from the U.S. government: the Federal Bureau of Investigation (FBI), the Drug Enforcement Agency (DEA) and the Securities and Exchange Commission (SEC), to name a few.
Back in August, the DEAprosecuted five dealerswho used bitcoin, believing it to be anonymous. “This investigation clearly demonstrates [cryptocurrencies] aren’t safe, they aren’t anonymous, and they can’t evade justice,” said DEA special agent Doug Coleman at the time.
See also:Fed Paper: Central Bank Digital Currencies Could Replace Commercial Banks – But at a Cost
The Pentagon’s “Zbellion” war game was designed in 2018, back when initial coin offerings (ICOs) were flourishing, and when there wasn’t much serious suggestion that mainstream society, let alone governments, would actually implement the tech.
But a lot has happened since. Facebook has designed its own digital asset; China seems to be motoring ahead with the implementation of a digital yuan; even the Federal Reserve,highly skepticalabout cryptocurrencies in 2018, is researching aDLT-based dollar.
The Pentagon evenreleased a reportlast July, outlining a new cybersecurity shield that leverages blockchain to increase resilience to cyberattacks.
• Crypto Long & Short: Bitcoin’s Quiet Progress Is Pointing Toward a Better Future
• Market Wrap: Bitcoin Flat as Stocks Swell on Positive Jobs Report || Bitcoin Startup Zap Is Working With Visa: Lightning developer and Zap, Inc. founder Jack Mallers announced Thursday his startups Strike product, which allows people to receive bitcoin as dollars via direct bank deposits, is finally entering public beta. A Visa card is also in the works. Zap, Inc. has joined Visas Fast Track program, Mallers said in an email about the startups plan for 2020. Visa works with members of the Fast Track program to help them go to market in the most efficient way possible, providing them support and resources every step of the way. Related: He said his primary focus this year is launching a Strike card for consumer app users and integrating Visa Direct into the consumer app, which is the program that makes Venmo payments so fast. Theres no date yet for the upcoming Strike card. They [Visa] are a partner for our consumer issuance offering and are not involved in our merchant offering at all, Mallers added. This year Visa appears to be doubling down on partnerships with crypto companies. For example, the shopping rewards app Fold (also a Fast Track member) and the exchange Coinbase both also offer corresponding Visa cards. These are generally used by crypto advocates who prefer to earn crypto rewards rather than other types of points. There are also crypto debit cards, which allow people to spend dollars. It remains to be seen what specific options will be available to Zap cardholders in 2020. Visa confirmed the deal but did not offer any additional comment by press time. Scrappy approach Related: Market Wrap: Bitcoin Briefly Breaks Below $9K, but Markets Remain Comatose Although Jack Dorseys Cash App and the exchange unicorn Coinbase are widely considered the most mainstream apps for buying and selling bitcoin, Mallers is looking to offer an app of the same caliber, at a fraction of the cost. Mallers said his two-year-old startup, with several people on staff, will take a three-pronged approach to the recession. To start, Strike gives each user a unique, public website where people can send bitcoin just by scanning a QR code. This is comparable to what the Ethereum Name Service offers with .ETH public wallet addresses. Story continues Read more: Zaps New Product Lets Merchants Take Dollars Over Lightning Network However, Zaps Strike is not a crypto wallet. Instead, the startup does an exchange on the backend and sends dollars to the users account. Traditional tax rules would apply to the financial transaction, and the exchange would bear the taxable cost of the bitcoin sale, not the individual, attorney Sasha Hodder of DLT Law Group said in an interview, describing one potential benefit of Strikes setup. Privacy perks Anyone around the world can now anonymously send bitcoin to people with American bank accounts or credit cards. Strike offers a public identifier that is not associated with ones personal bitcoin address. Instead, the startup manages these wallet addresses. This means someone can pay content creators, for example, without revealing personal information to each other. So far, the Strike setup is mostly used by small businesses and their customers. One such user, a coder and U.S. Army veteran named Rick in Colorado, uses Strike to purchase medicine to help with his seizures. Another user, who goes by Tyler, buys gift cards with Strike. Its very responsive, theres never lag time or anything like that. Its like Twitter or something, Rick said in a phone interview, describing how intuitive Strike was. The startup offers two different services, the merchant offering for businesses, and the free mobile app for consumers. For users who prefer to receive bitcoin, they can use Zaps namesake product, a Lightning-friendly bitcoin wallet . The Zap wallet offers self-custody for bitcoin while the custodial Strike wallet can only receive value in fiat. Taxes Zap now offers two complementary wallet apps, plus it has a third trick up its sleeve. Attorney Lisa Zarlenga of Steptoe & Johnson LLP said custodial services like Strike may reduce the hurdles for both shoppers and merchants during the economic lull by taking on the burden of channel management and reporting because the person transferring the bitcoin has to keep track of the value. Bitcoin advocates often claim they would like to use bitcoin, especially with Lightning transactions , to anonymously pay for products and services like media content. There are e-commerce vendors that accept bitcoin, although few shoppers use these options. Now its possible for creators and merchants with almost any technical skill level. Beyond computer literacy, the tax requirements are another major hurdle that bitcoin users might face. Read more: The COVID-19 E-Commerce Boom Hasnt Trickled Down to Bitcoin, Despite Advantages Over the past three years, the nonprofit Coin Center repeatedly proposed changing the tax regulations to reduce paperwork requirements for small purchases made directly with crypto, but Hodder said lawmakers arent prioritizing such tax issues during the COVID-19 crisis. Omri Marian, a professor of law at the University of California, Irvine, pointed out that most exchange services like Coinbase would calculate your taxable income anyway, so Strike may not solve any administrative issue for some users. Why not just pay in dollars? Marian asked. Someone can easily pay rent or buy groceries with value derived from bitcoin, using these free apps and a Visa card. The question remains whether bitcoiners will use the system enough to fuel the startups behind-the-scenes exchange earnings. If so, Zap doesnt need to become a unicorn in order to make a healthy profit. Read more: Lightning Wallet Zap Launches in-App OTC Desk for Bitcoin Buyers Strike user Tyler said he hopes the service will allow merchants to accept and use bitcoin with Lightning without their customers knowing or spending bitcoin. This app allows me to interface with Lightning so easily, Tyler said, noting how the scaling solution operates quietly in the background. Related Stories Bitcoin Startup Zap Is Working With Visa Bitcoin Startup Zap Is Working With Visa || Gemini Plots Singapore Expansion With Appointment of New Asia Director: The problem with paying gas to run transactions is that it discourages lots of transactions. The advantage of paying gas to run transactions, though, is that it discourages lots of transactions.
This contradiction is captured well in anew paperexamining transactions on EOS, Tezos and XRP Ledger (XRPL) over a seven-month period ending in April. Researchers from Imperial College London and University College London found the overwhelming number of transactions on these three networks either have no value attached or are passing it back and forth within one entity.
Titled “Revisiting Transactional Statistics of High-scalability Blockchain,” by Daniel Perez, Jiahua Xu and Benjamin Livshits, the report explains these findings in detail.
“Our analysis reveals that only a small fraction of the transactions are used for value transfer purposes,” the authors write. “In particular, 96% of the transactions on EOSIO were triggered by the airdrop of a currently valueless token; on Tezos, 76% of throughput was used for maintaining consensus; and over 94% of transactions on XRPL carried no economic value.”
Read more:A Mysterious Airdrop Called EIDOS Is Clogging EOS to Make a Point
The authors’ latest version came out Wednesday, following up on two prior versions, with this one including several more months of data. It immediatelysparked discussion, with its findings that high-throughput blockchains don’t necessarily have a lot of payment activity.
It also illuminated the fact that transparency doesn’t necessarily equal legibility.
Related:Free Transactions Invite Systemic Attacks on Blockchains, Researchers Find
So many records can pile up on a blockchain that needed information can become needles in a very large haystack. As Perez, a Ph.D. candidate at Imperial College London told CoinDesk in an email, “When the level of spam activity is very high, the size of the history gets disproportionately large given the amount of useful activity on the network. This makes such blockchains much more difficult to analyze and reason about.”
That said, the authors’ analysis is based on a careful examination of each blockchain, looking at the kinds of transactions and characterizing what kind of work they represented. Then they looked at the biggest users of the networks, which generally corresponded to most of the usage, and dug deeper into what was going on in their transactions.
As the authors note, there has been a dearth of academic investigation into blockchains besides that of Bitcoin and Ethereum. This analysis of EOS, XRP Ledger and Tezos covers the period from October 1, 2019 to April 30, 2020, using data collected by the open source tool,Blockchain Analyzer. Here’s what they found for each chain.
Last November, CoinDesk reported ona mysterious airdropon EOS that gave users an incentive to make as many low-value transactions as they could, called EIDOS, which overall made the blockchain more expensive to use, making it look very much like a denial of service (DoS) attack (also evidenced by the fact that “DOS” is part of the airdrop’s name).
The researchers found that most of the transactions taking place on EOS, at least through the end of April, were related to the EIDOS stunt.
The authors write, “Before the arrival of the EIDOS token, approximately 50% of these are transactions to betting games. … The launch of EIDOS increased the total number of transactions more than tenfold, resulting in 96% of the transactions being used for token transfers.”
To recap: The EIDOS smart contract sends a token to any EOS wallet address that sends it any amount of EOS. The smart contract instantly returns any EOS sent along with the token. The smart contract rewards transactions, not value, so it doesn’t matter how much EOS gets sent. It sends the same number of tokens back no matter what.
EIDOS was worth a little less than $0.02 when we last reported it on it. It currently trades for about $0.0008,according to CoinGecko.
Read more:Tron Dapps Saw $1.6 Billion in Volume in Q1 2019, Driven By Gambling
Additionally, the authors also found that most of the transactions on one of EOS’s large apps, WhaleEx, look suspicious.The WhaleEx websitesays it is the “#1 Decentralized Exchange in the World,” yet the authors looked at its transactions and found:
“Firstly, and most obviously, we notice that in more than 75% of the trades, the buyer and the seller are the same. This means that no asset is transferred at the end of the action. Furthermore, the transaction fees for both the buyer and the seller are 0, which means that such a transaction is achieving absolutely nothing else than artificially increasing the service statistics, i.e. wash-trading.”
WhaleEx could not be immediately reached for comment.
Block.One, the creators of the EOSIO software that runs EOS among a few other blockchains, declined to comment directly to CoinDesk. Instead, they directed CoinDesk to anew Medium postby CTO Dan Larimer, which does not directly address the questions about EIDOS and WhaleEx, but instead dwells on how the report’s authors define throughput.
The paper makes a theoretical argument that the true throughput on each of these chains is very low in terms of transactions with actual value, a point which Larimer disputes. In other words, Larimer emphasizes what EOSIO softwarecouldbe used for. Potential aside, the researchers’ findings are about what it is currently used for.
Larimer writes:
“How the media chooses to report on this paper will reveal whether or not they have integrity to differentiate technological capability and recognize EOSIO as being the most demonstrably scalable.”
Again, Block.One declined to further comment.
XRP is periodically beset by spam. The authors write:
“The ledger experienced two waves of abnormally high traffic in the form of Payment transactions in late 2019, the first between the end of October and the beginning of November, the second – at a higher level – between the end of November and the beginning of December.”
Why such traffic occurs, however, is unclear. “It remains something of a mystery how such an expensive form of ‘spam’ benefited its originators.”
Ripple’s CTO David Schwartz addressed this point when a prior draft of this paper was under discussion.He wrotein May:
“If you have a cheap, high-capacity public blockchain that was designed for maximum censorship resistance, it’s going to get a lot of spam. There’s no real disincentive and no authority to stop you. What are you willing to give up to stop it given that it doesn’t do much harm?”
That said, they also found that most XRP holders do very little. “The distribution of the number of transactions per account is highly skewed. Over one third (71 thousand) of the accounts have transacted only once during the entire observation period, whereas the 35 most active accounts are responsible for half of the total traffic,” they wrote, thoughsuch Pareto distributionsare not unusual, especially when money is concerned.
Ripple has not yet provided further comment to CoinDesk on this latest draft.
On Tezos, the authors find that most activity on the network is related to governance and staking.
They write, “Tezos has a high number of ‘endorsements,’ which are used as part of the consensus protocol, and only a small fraction of the throughput are actual transactions.” Further, a large portion of the transactions appear to be bakers (the validators) making payments to users who have delegated XTZ.”
Later, the paper notes:
“Tezos has not yet come close to maximizing its actual capacity.”
It does not, however, find suspicious or malicious transactions in any real volume on Tezos. TQuorum, an entity that promotes Tezos, had not yet provided comment as of press time.
As most people who follow cryptocurrency know, the Bitcoin blockchain debuted what’s come to be known as the internet of value. The paper’s analysis then is based on how frequently users actually transfer value, as opposed to making other kinds of transactions.
It raises questions about whether it is wise to design a blockchain so that valueless transactions are free or nearly free. The authors write:
“While on XRPL the consequences of such a spam attack are limited, on EOSIO they forced the network to enter congestion mode, causing regular users to be unable to use the network because transactions which used to be free started to cost a fee.”
In short, the authors write, “The massive potential of those blockchains has thus far not been fully realized for their intended purposes.”
Read the full paper below:
• XRP
• EOS
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
ISIS Recruit who Used Bitcoin to Finance Terror Group Could get 20 Years in Jail: A Pakistani-American woman who bought bitcoin and other cryptocurrencies using fraudulently obtained credit cards before wiring the funds toISIShas pled guilty to charges of offering financial support to a terrorist organization.
According to court filings, Zoobia Shahnaz made a couple of wire transactions last year to fronts for the Islamic terror outfit ISIS in China, Pakistan andTurkey. Besides the financial contributions to ISIS, Shahnaz was also planning to travel to join the terror group in Syria. She was intercepted at the JFK Airport in New York on her way to Istanbul, Turkey – a common entry point for ISIS recruits from the West.
Part of the amount that she wired to ISIS fronts was obtained by dishonest means. Per the prosecutors, between March and July last year, Shahnaz used ‘materially false pretenses, representations and promises’ to obtain a US$22,500 loan from a financial institution.
Shahnaz also got multiple credit cards from various financial institutions including Discover,American Express, TD Bank and Chase Bank by false pretenses. She then used the credit cards to buy bitcoin and other cryptocurrencies worth approximately US$62,000 from exchanges before converting them to cash.
“She also fraudulently applied for and used over a dozen credit cards, which she used to purchase approximately $62,000 in Bitcoin and other cryptocurrencies online,” apress releasefrom the U.S. Department of Justice read. “She then engaged in a pattern of financial activity, culminating in several wire transactions totaling over $150,000 to individuals and shell entities in Pakistan, China and Turkey that were fronts for ISIS.”
Shahnaz, who has been in custody since she was arrested last year in December, could be sentenced for up two decades in prison.
The case highlights the fact that fears that cryptocurrencies could be used to fund terrorism are overblown since despite using bitcoin to launder the money, Shahnaz had to resort to a wire transfer in her attempts to get the money in the hands of the terrorists.
As CCNreportedin September, part of the reason why bitcoin has not proved useful to terrorists is that they are usually located in places that lack the infrastructure necessary to conduct cryptocurrency transactions. This has seen cash take an almost monopolistic hold as the most anonymous method of financing terror.
However, according to intelligence analyst, Yaya Fanusie, this could change in the future and there is a need for the U.S. government to ensure that Anti-Money Laundering and Know Your Customer regulations are rigorously enforced.
“By preparing now for terrorists’ increasing usage of cryptocurrencies, the U.S. can limit the ability to turn digital currency markets into a sanctuary for illicit finance.”
Featured image from Shutterstock.
The postISIS Recruit who Used Bitcoin to Finance Terror Group Could get 20 Years in Jailappeared first onCCN. || Bitcoin Rally Ends as South Korean Lawyers Ask for Crypto Regulation: Bitcoin fell on Thursday. Investing.com - Cryptocurrency prices were lower on Thursday, as South Koreas lawyers urged the government to pass a legal framework for digital coins. The Korean Bar Association lobbied the government on Thursday, saying legislation was needed to promote the industry and protect consumers. We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies, Bar Association President Kim Hyun said. It is rare for the association, of which all local lawyers are a mandatory member, to campaign for interest groups, Reuters reported. South Korea has said it will decide on blockchain regulation once a current study on the field is complete. Bitcoin fell 0.50% to $6,545.50 on the Bitfinex exchange, as of 8:38 AM ET (13:38 GMT). Cryptocurrencies overall were slightly lower, with the total coin market capitalization at $217 billion at the time of writing, compared to $219 billion on Wednesday. Ethereum,or Ether, decreased 2.20% to $217.42 and Litecoin was at $54.214, down 2.03% while XRP slumped 4.27% to $0.51874. In other news, Deputy Prime Minister of Thailand Wissanu Krea-ngam wants more regulations on virtual coins. Krea-ngam thinks new measures are necessary both domestically and internationally in order to protect consumer security, the Bangkok Post reported. "The laws need to be amended in the future so that we can better keep up with technological changes," Krea-ngam said. On Wednesday the Thai government revealed plans to use blockchain technology to track tax payments. Thailand introduced a regulatory framework for crypots earlier in the year. Related Articles Set Phasers to HODL: Star Trek's William Shatner Tweets in Support of Vitalik Buterin IBM, Seagate Team Up to Tackle Hard Drive Fakes With Blockchain Chinese School Principals Caught Mining Ethereum At Work || Ethereum Stablecoin Will Migrate to Upgraded Bitcoin Cash Network: DiamCoin, not to be confused with Diamco.in, a similar token by different folks, is intended to be a version of astablecointhat is pegged to the value of a diamond. Each token will be pegged to the value of a millicarat of a diamond. So a thousand tokens equals 1 carat of diamond, and 14,000 tokens would presumably equal a 14-carat diamond. It’s not a stablecoin in the sense that you put a certain value in and get that same value out, although you are free to cash out in diamonds themselves.
Hello Diamonds has been serving the diamond industry for a few years with software solutions. This is their first move into blockchain. Their founders, based in Cyprus, had previously created a company called Hello Football, which helps use real-time fan data to place a value on soccer players.
“With the help of computational linguistics and in-house algorithms, we are able to process and understand any set of data including natural language resources found online. We at Hello Football strongly believe that the football industry as a whole is ripe for a revolution. As price discovery specialists, we are introducing a new way of perfecting the real-time valuation of football players.”
Like the majority of token developers, Hello Diamonds were first looking to build onEthereum. They even finished a token that was scheduled to go live in the coming months, but they’ve realized that Ethereum may not be the best option anymore.
The recent introduction of Wormhole, a smart contract platform which runs onBitcoin Cash, pushed them to switch their operation over to BCH, effectively making them the first project representing a stablecoin at all on Bitcoin Cash, and one of the earliest tokens to launch on Wormhole, with a projected launch of early next year at the latest.
The reasons for the switch are obvious to informed parties at this point: fast and spacious blocks, low transaction fees, and high security.
The concept of tokens backed by physical assets stored somewhere is still relatively untested in full. It’s even more exploratory than the idea ofUSDT, which supposes that the user should trust the bank account ofTether, and the same goes for other stablecoins as well.
In their favor, though, is the fact that Hello Diamonds has tapped a Nobel-prize winning economist,Sir Christopher Pissarides, who has helped design the system and advise it. The tokens will apparently be tradeable assets, meaning that regular crypto users will have opportunities to arbitrage their way into owning diamond assets. According to a video on the company’s site, DiamCoin will offer an important hedge against a full-scale collapse of the crypto market.
“Should the case be that all cryptocurrencies disappear, your DiamCoin will never be lost. It will still hold the value of the physical diamond, which was in a vault when the purchase was made.”
They have yet to release a whitepaper which further explains the specs and details of the system, but this reporter has learned that they are actively working with developers from Bitcoin.com to hasten the development of their software.
Images from Shutterstock
The postEthereum Stablecoin Will Migrate to Upgraded Bitcoin Cash Networkappeared first onCCN. || What to watch: Europe rebounds, Huawei makes changes in the UK, and RBS shifts billions in Brexit prep: Moving assets: Pedestrians pass a branch of a Royal Bank of Scotland (RBS) bank branch in central London on July 25, 2018. Photo: DANIEL LEAL-OLIVAS/AFP/Getty Images. Here are the top business, market, and economic stories you should be watching today in the UK, Europe and abroad: European markets rebound European stock markets were higher on Friday, rebounding from a calamitous session on Thursday that saw the FTSE 100 suffer its steepest fall since the Brexit referendum in 2016. Asian markets and European borses fell on Thursday after the arrest of Huawei’s CFO in Canada sparked fears of renewed tensions between the US and China. US markets initially followed but recovered late in the session, helping Europe to open higher today. Britain’s FTSE 100 ( ^FTSE ) was 1.4% higher on Friday morning, Germany’s DAX ( ^GDAXI ) was 0.8% higher, France’s CAC 40 ( ^FCHI ) was up by 1.3%, and the Euronext 100 ( ^N100 ) was up by 1.5%. In Asia, Japan’s Nikkei 225 ( ^N225 ) closed up 0.8%, Hong Kong’s Hang Seng index ( ^HSI ) ended down by 0.3%, and China’s benchmark Shanghai Composite ( 000001.SS ) closed flat. Huawei makes changes in the UK to avoid ban International pressure continues to mount on Huawei and the Chinese telecoms company has now been forced to make changes in Britain to avoid a ban. The Financial Times reported that Huawei has agreed to a series of technical demands made by GCHQ’s National Cyber Security Centre this week. The FT reported that Huawei was being threatened with a ban from the UK’s next generation 5G infrastructure if it did not make the changes. The concession comes amid sustained international pressure on Huawei. Australia and New Zealand have already instituted a similar 5G bans on Huawei, citing cyber security concerns. Reuters reported on Friday that Japan is also considering a ban. Huawei’s CFO Meng Wangzhou was arrested this week in Canada and faces extradition to the US on charges of violating sanctions against Iran. Huawei said it had no knowledge of any wrongdoing and the Chinese government has called for her release. RBS moves £13bn to the Netherlands in Brexit prep Royal Bank of Scotland ( RBS.L ) is advancing plans to move billions of pounds worth of assets to the Netherlands next March if Britain crashes out of the European Union without a deal. Story continues The state-controlled bank said it had applied to the courts to move £6 billion of assets and £7 billion of liabilities to its Dutch subsidiary NatWest Markets N.V. The transfer of all the assets and liabilities will take place in March unless a deal is reached with the EU, and then could “be more gradual and subject to further political developments”, the bank said. Bitcoin falls to fresh one-year low Bitcoin has fallen to a fresh one-year low against both the dollar ( BTC-USD ) and the pound ( BTC-GBP ) after a decision on the launch of a bitcoin ETF was delayed. Bitcoin was down by 2.1% against the dollar to $ 3,411.49 and down by 2.7% against the pound to £2,666.87 on Friday morning. The latest slip comes after the US Securities and Exchange Commission on Thursday delayed an expected decision on whether to approve a bitcoin ETF until next February. Advocates hope an ETF (exchange traded fund) will widen the market and would therefore be bullish for the price. “ Having endured a torrid 2018 the selling pressure just builds and builds,” Neil Wilson, chief market analyst at Markets.com, said in a morning email on Friday. “This is bear steamroller and it is not wise to try to stand in front of it.” What to expect in the US US stock futures were pointing to a lower open. S&P 500 futures ( ES=F ) were down by 0.5%, Dow Jones Industrial Average futures ( YM=F ) were down by 0.5%, and Nasdaq futures ( NQ=F ) were down by 0.5%. The VIX volatility-tracking index ( ^VIX) was up by 7%. The US jobs report on non-farm payrolls is due at 1.30pm (8.30am US time). With files from Reuters || Beyond Bitcoin: Fidelity May Expand Crypto Custody to More Assets: fidelity investments blockchain bitcoin crypto The world’s fourth-largest asset manager, Fidelity , is exploring the possibility of expanding its custodian services beyond Bitcoin to other assets in the crypto market. Tom Jessop, the head of Fidelity Digital Assets, a cryptocurrency custodial service provider operated by Fidelity, said that the organization is evaluating the demand for the top five cryptocurrencies in the market and may potentially integrate support for the remaining assets. The Fidelity executive said at the Block FS conference in New York: “I think there is demand for the next four or five in rank of market cap order. So we will be looking at that.” The statement of Jessop comes in a time during which major financial institutions like $70 billion Goldman Sachs and $27 billion State Street are waiting for either regulatory clarity or sufficient demand from customers to support cryptocurrencies. Demand From Institutional Investors Most of the infrastructure that is being built by leading financial institutions in the U.S. market are being tailored towards institutional investors that are seeking to invest at least $5 million to the cryptocurrency market, which is the minimum investment threshold on Coinbase Custody . Currently, the demand for crypto from institutional investors remains an uncertainty and the only way the market can evaluate it is through the evaluation of the performance of custodians that already the exist in the space — that includes Fidelity, Coinbase, and BitGo. Throughout the past eleven months, the cryptocurrency market has lost about 85 percent of its value. As such, the demand for cryptocurrencies has certainly declined by a significant margin since early January. But, the evaluation of adding additional digital assets by Fidelity, which require changes to its infrastructure and the structure of its custodian solution, suggests that the organization is seeing enough demand from institutional investors to justify placing more resources to strengthen its product. Story continues bitcoin cryptocurrency fund wall street State Street, an American financial services and bank holding company, said that it also sees sufficient demand and interest toward cryptocurrencies as an asset class. At a New York conference, Jay Biancamano, State Street’s managing director for digital product development and innovation, said: “There is no sense of urgency on the part of our clients to move into these assets right now. When they do, we want to meet them there. There is a very high level of interest but no need to move because currently none of our clients are looking for us to house these assets in custody.” Until the company receives a regulatory green light from local financial authorities, State Street cannot begin to operate as a custody, regardless of the increasing interest towards the asset class. Goldman Sachs is in a similar position , and it is waiting for regulatory clarity before it officially begins serving customers as a cryptocurrency custodian. Regulation Holding Companies Off The regulatory barrier between financial institutions and digital asset custodianship is preventing Goldman Sachs, State Street, Morgan Stanley, and more corporations from storing cryptocurrencies on behalf of their customers. While it could take months for major financial institutions to receive regulatory approval, the companies see enough demand in crypto to justify its entrance into the cryptocurrency sector. Images from Shutterstock The post Beyond Bitcoin: Fidelity May Expand Crypto Custody to More Assets appeared first on CCN . || Ohio Is ‘Planting A Flag’ And ‘Embracing Cryptocurrency’: State Treasurer: Asked onBloomberg News Thursday morning“just how big a deal” it is thatOhio now accepts cryptocurrencies for tax payments, Ohio State Treasurer Josh Mandel responded in kind saying that Ohio is “proud to do its small part” by being the first in the nation to do so.
Speaking from a true position of authority on the subject of state taxation, the official said there were two primary motivations for the move: one, to make life easier for taxpayers and two, perhaps most significantly, to stimulate innovative industries to migrate to Ohio.
His exact words were as follows:
We’re proud to do our small part and take this small step to make Ohio the first state in America to enable taxpayers to be able to pay via cryptocurrency. We’re doing this for two main reasons. First, to give more options and ease to taxpayers in how they pay their taxes.
Mandel went on to demonstrate an intimate knowledge in how person-to-person cryptocurrency transactions work for the Bloomberg anchors.
A commentator from London heckled Mandel, claiming that fees were quite high and there was a high degree of difficulty for the average user to set up and use a Bitcoin wallet. At present time, with a high number of inputs, a typical Bitcoin transaction using legacy technologywill cost about $1.25. This is the network fee, separate from the fee charged by Ohio for processing the payment it later receives from BitPay – 1%.
Bitcoin fees themselves are not based on amount of money transacted, but instead the actual amount of space on the blockchain that will be consumed. Several wallets such as Mycellium make it rather easy for the user to minimize fees.
Mandel responded to the London-based commentator with a stark reality: there is a 2.5% fee if the taxpayer wants to pay with a credit or debit card.
Mandel said that a growing number of “small and medium-sized businesses” in Ohio want the state to embrace blockchain technology. He then mentioned theBlockland Conferencein Cleveland happening early next week.
The rest of his interview focused onGM closing plants in Ohio, and the critically negative impact it will have on the economy. One industry closes,a state government opens its arms to blockchain.
Featured image from Shutterstock.
The postOhio Is ‘Planting A Flag’ And ‘Embracing Cryptocurrency’: State Treasurerappeared first onCCN. || Why Starbucks Stock Gained 15% in November: Starbucks(NASDAQ: SBUX)stock outpaced the market by a wide margin last month with its 15% increase compared to a 1.8% uptick in theS&P 500, according to data provided byS&P Global Market Intelligence.
The rally put the stock back in significantly positive territory for the year after having been down by more than 10% in early July.
Image source: Getty Images.
Investors celebrated the coffee chain's fourth-quarter report that ended fiscal 2018 on a positive note. Comparable-store sales met management's targets after falling behind their projections in each of the previous two quarters. Demand tends improved in both the U.S. and China segments, althoughcustomer traffic remained negative.
CEO Kevin Johnson and his team noted in early November that Starbucks improved nearly all of its key operating trends in the fourth quarter as compared to the prior quarter. That success gave the company confidence to project modestly accelerating sales growth for the new fiscal year, with comps landing at around 3% compared to the past year's 2% uptick.
Investors will be closely following the next few quarterly reports, especially the first-quarter announcement that covers the key holiday shopping season, for confirmation that Starbucks' rebound continues to gain momentum.
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Demitrios Kalogeropoulosowns shares of Starbucks. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has adisclosure policy. || NYSE Owner’s Bitcoin Futures Market Will Open in Mid-December: Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), will list its highly-anticipated bitcoin futures contract in less than two months, on December 12.
Known as aphysically-settled daily futures contract, the contracts will be backed by actual bitcoins held in ICE’s Digital Asset Warehouse. According to a press release, each futures contract will be validated through ICE Clear U.S., the firm’s clearing venue.
The press release states in part:
“Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse and will trade in U.S. dollars and others. One daily contract will be listed for trading each Exchange Business Day.”
Launched in apartnership betweenICE — the operator of 23 leading global stock exchange, including the NYSE — and other household names including Starbucks and Microsoft, the Bakkt venture aims to create an open, compliant ecosystem for digital assets.
Bakkt wascreatedto be a “regulated ecosystem” that provides protection for institutional investors who want to get exposure to cryptocurrency. At the time of the announcement inSeptember, Bakkt had said the physical bitcoin futures would be traded against the U.S. dollar, British pound sterling, and euro.
“A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of bitcoin is fully collateralized or pre-funded. As such, our new daily bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset,” Bakkthadsaid at the time, responding to criticisms that the contracts could mask “hidden leverage.”
For every one purchase of a USD/BTC futures contract, there will be a delivery of one bitcoin into the owner’s account at settlement. That contrasts with the bitcoin futures markets on CBOE and CME, which are cash-settled, meaning that no actual cryptocurrency assets exchange hands at expiration.
Investors in Bakkt’s platform includeMike Novogratz‘s Galaxy Digital,Pantera Capital, and others.
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The postNYSE Owner’s Bitcoin Futures Market Will Open in Mid-Decemberappeared first onCCN. || Can AMD Keep Growing Without Crypto at its Back?: This was a disaster waiting to happen: Shares of Advanced Micro Devices (NASDAQ: AMD) cratered massively after a disappointing third-quarter report and tepid guidance made it clear that the company is losing steam. But those who have been watching AMD closely could see this coming from far away . AMD's current-generation Vega graphics cards weren't as good as those from rival NVIDIA (NASDAQ: NVDA) when it came to playing games. However, AMD cards were reportedly more capable at mining certain types of cryptocurrency when compared to NVIDIA's offerings. So AMD went ahead and optimized its GPUs for cryptocurrency mining with the help of software updates. This move should have helped it curry favors with miners and boost sales, helping it mint "easy money" in the words of my colleague Timothy Green. In fact, one of AMD's crypto-specific GPU upgrades in August last year had clearly mentioned that the new GPU driver was "not intended for graphics or gaming workloads," indicating just how serious the company was about this opportunity. AMD's website also shows that it has struck partnerships with seven companies to offer rigs based on its GPUs to power "Blockchain compute solutions," which again shows that the company was looking to capitalize on the cryptocurrency-driven opportunity As such, AMD's predicament isn't surprising: The company was cashing in on the cryptocurrency mining boom and possibly lost sight of the video gaming market. Meanwhile, arch-rival NVIDIA went on the offensive by launching a new set of GPUs (graphics processing units) to curry favor with the video gaming audience. What's even worse is that, thanks to its missteps, AMD won't be making a comeback anytime soon. A tablet displaying a chart of a stock-price crash Image source: Getty Images. Adverse times for AMD GPU prices had spiked big-time after cryptocurrency demand created a supply shortfall. As a result, AMD's top and bottom lines were growing at a blazing pace, because the company was considered to be the prime beneficiary of crypto-driven demand. In fact, at one point last year, cryptocurrency mining was driving a third of the sequential growth in the company's computing and graphics segment. Story continues But now that cryptocurrency-related GPU demand is waning, AMD needs to be worried for two reasons. First, prices are falling due to excess GPU inventory. AMD management pointed out on the latest conference call that it witnessed excess channel inventory thanks to a "decline in blockchain-related demand that was so strong earlier in the year." Second, there's a probability that as cryptocurrency miners move to dedicated mining chips, they could start flooding the market with pre-owned GPUs at discounts. This is bad news for AMD since it's taking longer to sell its products as-is. AMD Days Inventory Outstanding (Quarterly) Chart AMD Days Inventory Outstanding (Quarterly) data by YCharts . Not surprisingly, the company expects its revenue to decline year over year in the fourth quarter, a far cry from the 33% annual growth it recorded in the same period last year. More specifically, AMD's guidance of $1.45 billion is around 2% lower than the year-ago quarter's top line of $1.48 billion -- a clear sign that its days of spectacular growth are over. A turnaround looks like a pipe dream AMD has been gaining impressive market share in GPUs, but the loss of the cryptocurrency catalyst could give NVIDIA an upper hand. That's because NVIDIA's latest-generation GPUs based on the Turing architecture are already on sale, while the company's competitive cost structure gives it the freedom to lower prices and capture more market share. As it turns out, NVIDIA has not only launched an array of graphics cards targeting the gaming, data center, and professional workstation markets, but has also received support from key players that are willing use them in their solutions. The likes of Cisco , IBM , Oracle , and Dell EMC, among others, have decided to support the recently launched Tesla GPUs in their data centers. On the other hand, AMD will launch its next-generation data center GPU by the end of this quarter, giving NVIDIA a head start -- the latter's latest Tesla T4 GPUs were announced back in September. NVIDIA enjoys a similar head start in the gaming space, as its latest graphics cards are out in time for the holiday season, while AMD recently said that its 7nm discrete graphics cards are expected "over the coming quarters." Meanwhile, NVIDIA has started optimizing its new GPUs for titles such as Battlefield V already in a bid to make its graphics cards more appealing to gamers. Investors should watch to see if AMD's GPU market share slips in subsequent quarters as gamers and data center companies flock to NVIDIA for their requirements. Ominous signs The loss of AMD's growth momentum makes it a risky bet given its rich valuation. The stock is expensive, with a trailing price-to-earnings ratio of 72 even after crashing severely post-earnings. Looking out, analysts are expecting the company to post modest earnings-per-share growth over the next few years -- AMD is expected to report $0.46 per share in earnings during the ongoing fiscal year 2018, which will be a massive jump over last year's EPS of $0.17. The growth rate, however, will slow down in fiscal 2019 as EPS is expected to increase to $0.63. But further out, the story could stall. Yahoo! Finance estimates suggest that AMD's earnings will increase at a compound annual growth rate (CAGR) of only 0.56% over the next five years. These low expectations reflect the competitive marketplace and the uphill battle AMD will have fighting the likes of NVIDIA for the more predictable gaming GPU market. All told, absent another crypto boom, AMD's era of high flying growth might be over. More From The Motley Fool 16 Cryptocurrency Facts You Should Know Experts Warned – The Crypto ‘Bloodbath’ Is Here How to Buy Bitcoin Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool owns shares of ORCL and has the following options: short December 2018 $52 calls on ORCL and long January 2020 $30 calls on ORCL. The Motley Fool has a disclosure policy . || Winklevoss twins accuse Shrem of stealing Bitcoin worth $32m: The Winklevoss twins claim Charlie Shrem stole 5000 Bitcoin from them - Getty Images North America "Bitcoin's first felon has gone on a spending spree. This year alone, Charlie Shrem bought six properties, two Maseratis and two powerboats. He even claims to have grabbed a cameo in a Black Eyed Peas music video. For a man who has just served time in prison for money laundering, the excesses and fortunes fail to compute. Cameron and Tyler Winklevoss are on to him. According to a lawsuit filed in a US federal court on Thursday, the twin brothers are accusing Mr Shrem of spending Bitcoin worth $32m (£24.7m) owed to them since 2012 to fund his lavish lifestyle. Mr Shrem is no stranger to run-ins with the law. In 2014, he was sentenced to two years in prison for using Bitinstant, a former cryptocurrency exchange which he co-founded, to funnel Bitcoin to shadowy actors seeking to buy drugs from internet black market Silk Road. He assisted Robert Faiella, a plumber from Florida who operated as BTCKing online, with the transfer of more than $1m worth of Bitcoin to the Silk Road in 2012. Though the early Bitcoin advocate came clean in the Silk Road affair pleading guilty to aiding and abetting an unlicensed money transmitting business he plans to stand his ground in this case. But Bitcoins first felon may be running out of luck. The Winklevoss brothers came to be worth more than $1bn last year after capitalising on a $65m payout from Facebook $11m of which was invested in Bitcoin at a 2013 price of $120. Mr Shrem, who became an adviser to the twins in 2012, is alleged to have stolen 5,000 Bitcoin. Brian Klein, Mr Shrems lawyer, says the accusations made by the Winklevoss brothers are unsubstantiated. The lawsuit erroneously alleges that about six years ago Charlie essentially misappropriated thousands of Bitcoins, he said. Nothing could be further from the truth. The Winklevoss brothers claim that after just a few months of working with Mr Shrem, they were short-changed. In September 2012, the twins gave Mr Shrem $250,000 to invest in Bitcoin at a price of $12.50 at the time. A month later, the investor returned to the pair with $189,000 worth of Bitcoin. Story continues The cryptocurrency was again trading at $12.50, which meant approximately 5,000 Bitcoin had gone missing. Mr Shrem failed to account for the Bitcoin when confronted by the brothers, who were forced to launch an investigation into their missing assets. Through an external investigator tracking the blockchain, a ledger over which cryptocurrency payments are made, 5,000 Bitcoin were found to have been moved in 2013 through Mr Shrem-associated accounts on digital wallet platforms Xapo and Coinbase. When he purchased $4 million in real estate, two Maseratis, and two power boats, we decided it was time to get to the bottom of it, Cameron Winklevoss told The New York Times. A judge in a federal-district court in New York has since approved a request by creditors for Mr Shrems funds held across Xapo and Coinbase to be frozen.
[Random Sample of Social Media Buzz (last 60 days)]
El mercado de ICO está muerto: Crypto Investor Barry Silbert - https://ift.tt/2KHKrtN - via Criptomonedaico #criptonoticias #BTC #TRX #EOS #ETH #LTC #XRPpic.twitter.com/sraHFYuXHh || 1hr Report : 11:00:44 UTC Top 10 Mentions
$BTC, $ETH, $XRP, $LTC, $ADA, $ETC, $NEO, $XLM, $EOS, $MANApic.twitter.com/BcSKiCF4uY || if you wanna learn about Bitcoin I recommend Trace Mayer and Andreas Antonopolous' YouTube videos
It's not all hype :) || El bitcoin registra su mejor rendimiento diario desde julio, El regulador estadounidense publica un manual sobre contratos inteligentes, y otras noticias.
https://buff.ly/2KFABsm || Cryptocurrencies Rally as Bitcoin Moves Above $4,000 for First Time Since Plummeting http://tradecryptoco.in/cryptocurrencies-rally-as-bitcoin-moves-above-4000-for-first-time-since-plummeting/ …pic.twitter.com/j8BWscdwiO || Malaysia’s Finance Minister Announces Crypto Plans For #Blockchain Regulations in 2019 - #Bitcoin Exchange Guide https://bitcoinexchangeguide.com/malaysias-finance-minister-announces-crypto-plans-for-blockchain-regulations-in-2019/?utm_source=dlvr.it&utm_medium=twitter …pic.twitter.com/aRUNX9GdI7 || 1hr Report : 03:00:26 UTC Top 10 Mentions
$BTC, $ETH, $XRP, $XLM, $NEO, $LTC, $ICX, $ADA, $BCH, $EOSpic.twitter.com/Sv6rFGMgSJ || BTCのETF(上場投資信託)審査は12月、遅くて2月。
承認されてもされなくても12月に一度審査が控えていることがポイントです。
こういった重大なファンダの前は期待上げを誘発しやすい状況です。
ファンダメンタル、年末のリスクオンを利用することで、大口としては絶好の上昇機会を生み出せます。 || #BTCUSD Market #1H timeframe on December 6 at 10:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || [08:00] Most mentioned tickers in the last 4 hours: $BTC $ETH $XRP $LTC $CVT $TRX $BCH $DAX $XLM $GOTpic.twitter.com/NN0U9lvK0w
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Trend: up || Prices: 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Hochul signs partial cryptocurrency mining ban into New York law: ALBANY, N.Y. New York will instate a two-year moratorium on new fossil fuel-powered cryptocurrency mining operations as the state works to balance its economic development and climate goals. Gov. Kathy Hochul on Tuesday signed the controversial measure into law that would create the first-in-the-nation temporary pause on new permits for fossil fuel power plants that house proof-of-work cryptocurrency mining, which is a process used in the transaction of digital money. Hochul, who had punted on the issue for months after the Legislature passed the bill in June, was elected to a full term Nov. 8. Upstate New York has become attractive to companies that mine digital currencies, including Bitcoin, because of the availability of former power plants and manufacturing sites with unused electrical infrastructure. But Hochul said that the moratorium is an important step to avoid increased emissions from the industry restarting old power plants as she guides the state toward ambitious climate goals. As the first governor from upstate New York in nearly a century, I recognize the importance of creating economic opportunity in communities that have been left behind, the Democratic governor from Buffalo said in the memo accompanying her approval. I am signing this legislation into law to build on New Yorks nation-leading Climate Leadership and Community Protection Act, the most aggressive climate and clean energy law in the nation, while also continuing our steadfast efforts to support economic development and job creation in upstate New York. The new law will also trigger a study by state Department of Environmental Conservation to study the impacts of the cryptocurrency mining industry on the environment. The measure was hotly debated in the halls of the state Capitol this year, with environmental groups pushing lawmakers and Hochul to support the bill and the industry urging Hochul to reject it. Thank you, Governor Hochul, for stepping up to protect New Yorkers from corporate bullies who want to exploit communities like mine in the Finger Lakes, Yvonne Taylor, vice president of Seneca Lake Guardian, an environmental group that has pushed for the closure of a local gas-powered cryptocurrency facility. The crypto industry is going to whine that this is a blow, but it's not. Story continues The bill is narrow in scope, despite its groundbreaking steps. The state's roughly dozen operations that draw power from the grid would not be affected, nor would individuals purchasing or mining for cryptocurrency or other blockchain activities. And the moratorium on new or renewed permits doesnt apply if the company has already filed paperwork to operate in New York. Still, the law has raised concern in the industry that it would lead to other states to follow suit and hurt the industry, which has already faced a difficult stretch among investors. In June, the state denied a key permit for a gas powered cryptocurrency mining operation in the Finger Lakes, saying the Greenidge facility was spewing too much planet-warming pollution to be allowed under the states climate law. But the company is fighting the decision, and the plant continues to operate. Business groups ripped Hochul for signing the ban into law. The Business Council does not believe the legislature should seek to categorically limit the growth and expansion of any business or sector in New York, the group said in a statement. We plan to further engage and help educate them regarding this industry and the benefits it provides to the local, regional and state economy. || Block (SQ) Q3 Earnings Surpass Estimates, Revenues Rise Y/Y: Block Inc.SQ reported third-quarter 2022 adjusted earnings of 42 cents per share, which beat the Zacks Consensus Estimate by 82.6%. The bottom line increased 13.5% year over year and 133.3%, sequentially.
Net revenues of $4.52 billion surpassed the Zacks Consensus Estimate by 0.9%. Further, the figure increased 17.4% and 2.5%, respectively, from the prior-year quarter and the previous quarter’s level each.
Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which led to the contribution of $2.68 billion (59% of total revenues) to net revenues for the reported quarter, up 12.2% year over year.
Block witnessed solid traction across the Square ecosystem, generating $1.77 billion of revenues (39% of total revenues), up 8.4% year over year.
SQ’s Corporate & Other — comprising the global music and entertainment platform TIDAL — generated $56 million (4% of total revenues) of net revenues for the third quarter.
In the third quarter, Block witnessed strong growth in transaction, subscription and hardware revenues.
The growing momentum across the buy now, pay later (BNPL) platform generated $210 million of revenues, rising 6% on a year-over-year basis.
Additionally, accelerating gross payment volume (GPV) drove the results.
Block, Inc. price-consensus-eps-surprise-chart | Block, Inc. Quote
GPV for the third quarter amounted to $54.4 billion, up 19.7% from the year-ago period’s level. This was driven by strength across the Square ecosystem. Square GPV accounted for 92% of the total GPV for the reported quarter. Square GPV was up 20% year over year.
Strong performance of the Cash App, accounting for $4.3 billion of the overall GPV (8%), remained a positive. The figure increased 15.9% year over year. Growing Cash App card monthly actives remained a positive.
Block continued to experience an improvement in card-present and card-not-present volumes in the reported quarter. Card-present GPV was up 23% from the year-ago quarter. Card-not-present GPV witnessed year-over-year growth of 14% for the third quarter.
Transaction (34% of net revenues):Block generated transaction revenues of $1.52 billion, up 17% year over year. Strong Square ecosystem accounted for $1.40 billion of transaction revenues, up 17.2% year over year. Robust performance of the Cash App contributed $118.5 million to transaction revenues, up 14.8% year over year owing to the rising number of transactions as well as business accounts.
Subscription and Services (26% of revenues):SQ generated $1.19 billion of revenues from the category, jumping 71.5% from the year-ago quarter’s level. The improvement can be attributed to a strong performance by the Cash App, which contributed $803.7 million to the top line. The figure was up 69.3% from the year-ago quarter’s reading. Square ecosystem contributed $331.7 million to subscription and services revenues, up 104.3% year over year.
Hardware (1% of revenues):Square generated revenues of $43.4 million from the business, up 16.5% year over year. This was driven by strong unit sales of Square Terminal and Square Reader for contactless and chip.
Bitcoin (39% of revenues):Block generated revenues of $1.76 billion from the category, down 2.9% year over year. The decline in bitcoin revenues was driven by a fall in consumer demand and the price of bitcoin.
Per management, gross profit grew 38% from the year-ago quarter’s level to $1.57 billion. Further, gross margin expanded 523 basis points (bps) year over year to 34.7%.
Adjusted EBITDA was $327 million for the reported quarter, up 40.3% year over year.
Non-GAAP operating expenses were $1.26 billion, rising 39% from the prior-year quarter’s level.
Product development expenses were $331 million, up 54% year over year, primarily due to rising headcount, expenses related to the BNPL platform, and personnel costs in engineering, data science and design teams.
General and administrative expenses were $312 million, up 35% from the prior-year quarter’s level. This was primarily caused by finance, legal, compliance and support personnel costs, and expenses associated with the BNPL platform.
Sales and marketing costs were $456 million, up 16% year over year due to an increase in Cash App marketing expenses and marketing expenses related to the BNPL platform and TIDAL.
Block incurred an operating loss of $15 million in the third quarter.
As of Sep 30, 2022, the cash and cash equivalent balance was $4.33 billion, up from $4.02 billion on Jun 30, 2022.
Short-term investments were $1.05 billion for the reported quarter, up from $938.99 million in the previous quarter.
Long-term debt was $4.11 billion compared with $4.10 billion in the prior quarter.
Currently, Block has a Zacks Rank #3 (Hold). Some better-ranked stocks in the Business Services sector areAutomatic Data ProcessingADP,EXL ServiceEXLS andInsperityNSP, each carrying a Zacks Rank #2 (Buy) at present. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data Processing has lost 4.2% in the year-to-date period. The long-term earnings growth rate for ADP is currently projected at 12%.
EXL Service has gained 22.6% in the year-to-date period. The long-term earnings growth rate for EXLS is currently projected at 16.8%.
Insperity has lost 30.2% in the year-to-date period. The long-term earnings growth rate for NSP is currently projected at 15%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAutomatic Data Processing, Inc. (ADP) : Free Stock Analysis ReportInsperity, Inc. (NSP) : Free Stock Analysis ReportExlService Holdings, Inc. (EXLS) : Free Stock Analysis ReportBlock, Inc. (SQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Stock market news live updates: Stocks soar to kick off key earnings week: U.S. stocks rose on Monday to begin a key week in which Wall Street awaitsearningsfrom some of the market’s biggest players.
The S&P 500 (^GSPC) climbed about 1.2% while the Dow Jones Industrial Average (^DJI)advanced over 400 points, or about 1.3%. The technology-heavy Nasdaq Composite (^IXIC) rose 0.9% after starting the day in the red.
Yields on U.S. Treasury bonds inched higher on Monday after a relentless climb last week that saw the 10-year note temporarily hit a 14-year high above 4.3%.
On Friday, theWall Street Journal reportedthat some Federal Reserve officials were concerned with the pace of the interest rate hikes ahead of their November meeting,prompting stocks to rallyto end a winning week.
San Francisco Federal Reserve President Mary Daly also said that the central bank should avoid putting the economy into an “unforced downturn” and that it’s time toconsider slowingthe pace of interest rate hikes.
“I think that is the wrong message,” Interactive Brokers Chairman and FounderThomas Peterffytold Yahoo Finance Live on Friday following Daly's remarks. “I think the Fed has to send the message that we are going to stamp out inflation, no matter what. And they are in a better position if they can scare the market into easing up on spending rather than having to force them to ease up on it.”
Data Monday also showed that the central bank's tightening policies are beginning to weigh on U.S. business activity, with thepurchasing managers' indexindicating weakness across both the service and manufacturing sectors of the economy.
The upbeat turn on Wall Street comes as investors await earnings from the five biggest tech firms – Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (FB), Apple (AAPL), and Amazon (AMZN) – which alone represent roughly a quarter of the S&P 500 index's market capitalization.
"Historically, when these four companies report in the same trading week, Alphabet (GOOG) has been the only one to consistently see its stock react positively to earnings whereas the rest have all tended to fall. Of these prior occurrences, last quarter was the first time that all four of these stocks traded higher in response to earnings," wrote Jake Gordon, analyst at Bespoke Investments Group.
Third-quarter earnings have come in better than expected so far, with beats from companies like Netflix (NFLX), AT&T (T), and IBM (IBM) countering misses from companies like Snap (SNAP), whichtumbled 28%Friday after disappointing results.
Data from FactSet shows that S&P 500 companies that have missed expectations this earnings season have fallen 4.7% on average in the two days before their report through the two days after, compared with the five-year average of 2.2%.
Still, overall investor expectations are relatively lower than usual.
“Earnings expectations, if you strip out the energy sector, they went from about positive 6% back in July for this quarter's earnings, all the way down to… negative 3%,” BMO Wealth Management Chief Investment Strategist Yung-Yu Matold Yahoo Finance Liveon Friday. “And so once you lower the bar that much, it does set up an environment where it's a lot easier to beat earnings, a lot easier to have relief rallies.”
Strength in theU.S. dollarhas weighed on corporate profits hard. The dollar gained on Monday against the Chinese yuan weakened. In the European markets, the pound traded stronger as U.K. government bonds rallied after Boris Johnson pulled out of the race for prime minister, leaving former chancellor Rishi Sunak closer to becoming the next prime minister.
Chinese stocks also saw theirworst daysince 2008, and U.S.-listed Chinese stocks Alibaba (BABA) and JD.com Inc. (JD) tumbled Monday as President Xi Jinping embarked on a precedent-breaking third term controlling over the ruling Communist Party.
The news battered other stocks that have exposure to China. Shares of Tesla (TSLA) slid 4% after the carmakerlowered pricesfor its vehicles sold in China as the company faces fierce competition from local rivals in its second-biggest market.
Elsewhere, crypto traded mixed as Bitcoin headed toward the $19,000 level, while Ethereum retreated as their supply seems to be descending since the Merge.
"Bitcoin remains stuck around the $19,000 level and that will probably remain the case until we get beyond next week’s FOMC policy meeting," wrote Edward Moya, senior analyst at OANDA.
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Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter@daniromerotv
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Crypto’s Latest Mystery Is the Ownership of Major Exchange Huobi: (Bloomberg) -- In the vexing world of cryptocurrencies, the seemingly simple question of who owns an exchange can turn out to be fiendishly tricky. Most Read from Bloomberg Tiantian Kullander, Co-Founder of Crypto Firm Amber, Dies at 30 A Rival’s Misstep Helped Anwar Finally Land Malaysia’s Top Job Adobe Sees Up to $9.2 Billion in E-Commerce: Black Friday Update US Bans Huawei, ZTE Telecom Equipment on Data-Security Risk US Shoppers Kick Off Holiday Season With a Muted Black Friday Take Huobi Global, a platform with Chinese roots that has faded from global leadership but still commands notable daily trading volume of over $300 million, according to tracker CoinGecko. Huobi Global said last month that co-founder and controlling shareholder Leon Li had sold his stake in the company to a buyout firm managed by About Capital Management HK Co. People familiar with the matter, who asked not to not be identified discussing private information, said China-born crypto mogul Justin Sun spent about $1 billion to acquire the roughly 60% shareholding via the Hong Kong-based asset manager About Capital. Sequoia China and ZhenFund also sold their combined 28% stake in Huobi Global to About Capital, said the people. According to the people, Sun kept his name out of the deal to avoid scrutiny from China, where crypto is mostly banned. Yet Sun has repeatedly denied any involvement in Huobi Global’s sale, while a Huobi Global spokesperson denied that Sun was the buyer. Sun’s official position at Huobi Global is as an adviser. Calls to the contact number on About Capital’s website for comment weren’t returned, and there was no immediate response to emails to its general query address. Spokespeople for Sequoia China and ZhenFund declined to comment. Sun’s involvement in the acquisition was first reported by online outlet Wu Blockchain. The puzzle over Huobi Global’s ownership comes at a time when the murky slide into bankruptcy of Sam Bankman-Fried’s giant crypto exchange FTX has put a premium on transparency in the digital-asset sector. Huobi Global is among a slew of platforms that have vowed to disclose asset reserves to boost clarity about the status of depositor funds. Story continues Tough Environment “It’s tough in the current environment to have faith in centralized exchanges, let alone if their ownership structure is unclear,” said Wayne Zhao, a partner and analyst with research house TokenInsight. Sun, 32, founded the Tron ecosystem, whose eponymously named native token is a top 20 virtual coin by market value. By his own account, Sun is worth more than $25 billion in Bitcoin, other crypto tokens, US dollars and Treasury bills. He once donated almost $4.6 million to dine with Warren Buffett and suggested in a Bloomberg Television interview before FTX’s bankruptcy that Tron could help rescue the platform. In December he said he’s becoming a diplomat for the Caribbean nation of Grenada and had been resident there since 2019. In his advisory role, Sun has laid out his vision for Huobi Global on Twitter, including establishing a stronghold in Asia -- especially with the Chinese-language community -- and prioritizing the exchange’s utility token HT. Volatile Token He told followers in a Chinese-language tweet last month that “you can rest assured I won’t harvest you” until Huobi Global is a top-three exchange again. In Chinese crypto circles, newcomers to the space are referred to as “leeks” who get “harvested” by seasoned investors like Sun. The price of the HT token more than doubled after Li’s share sale was announced on Oct. 8 but then plunged to levels that prevailed before the transaction, according to CoinGecko. Sun said in an October interview with Bloomberg Television that he owns “tens of millions” of HT tokens. “Justin’s playbook is always about fan bases and the attention economy,” said Bowen Wang, co-founder of crypto venture firm Smrti Lab who’s known Sun since 2017. “When he gains enough attention, he will benefit from HT token appreciation.” ‘Fire Up’ Huobi Global unveiled new branding at a briefing in Singapore on Tuesday headlined by Sun. The English name will be shortened to “Huobi.” In the Chinese version, the name is changing to the same-sounding “火必” -- which roughly translates as “must fire up” -- from “火币” or “fire coins.” The people familiar said former controlling shareholder Li refrained from giving the new owner the right to use the original Chinese branding. New executives have been named to lead departments such as finance, audit and human resources, including some that previously worked on Tron, according to an internal memo viewed by Bloomberg News. All business heads will report to Huobi Global’s advisory board, which includes Sun and a company co-founder. A Huobi Global spokesperson said the rebranding aligns with a strategy of offering a gateway to the broader blockchain sphere, not just crypto trading. The spokesperson didn’t comment on the personnel changes. --With assistance from Suvashree Ghosh. (Updates with Huobi Global’s rebranding from the 15th paragraph.) Most Read from Bloomberg Businessweek Apple’s Reliance on China Grows Perilous With Chaos in iPhone City Elon Musk Keeps Quoting Elon Musk About His Genius The Robot Tractors Are Coming, Just as Soon as We Crush a Few Bugs Professor Behind Effective Altruism on What SBF’s Fall Means Crypto’s Crash Is Helping a Few Couples Rekindle Their Relationships ©2022 Bloomberg L.P. || Stocks end lower in volatile session as labor-market strength keeps pressure on the Fed to hike interest rates: Traders working at the New York Stock Exchange, Michael Nagle/Xinhua via Getty Images US stocks fell Tuesday, marking a second straight decline for Wall Street's major averages. Stocks fell after JOLTS data showed an unexpected rise in job openings while the Fed has been working to cool the labor market and inflation. A smaller-than-expected rate hike by the Fed could ignite a surge in stocks, says JP Morgan. US stocks swung lower Tuesday after a report showing ongoing strength in the labor market fed into the view that the Federal Reserve is likely to continue with its jumbo-sized interest rate hikes. All three of Wall Street's major indexes reversed earlier advances and ended with a second straight loss. But stocks were still coming off notable gains for October, during which the S&P 500 rose by nearly 4%, its best monthly performance since January 1976. Equities on Tuesday lost steam after the US government's Job Opening and Labor Turnover report showed an unexpected increase to 10.7 million in job openings in September. Vacancies were expected to decline to 9.9 million, according to an Econoday survey of economists. Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 3,856.10, down 0.41% Dow Jones Industrial Average : 32,653.20, down 0.24% (79.75 points) Nasdaq Composite : 10,890.85, down 0.89% The data arrived the same day the Federal Open Market Committee began its two-day meeting. Investors widely expect the Fed on Wednesday to deliver the fifth rate hike of 2022 and the fourth sized at 75 basis points. "September's job openings estimates will be disappointing news for the FOMC, which has communicated its intent to slow labor demand in order to achieve sustained declines in inflation," Barclays senior US economist Jonathan Millar wrote in a note. "Although today's estimate is unlikely to have much influence on the November FOMC decision, we suspect it will reinforce our view that the committee will want to retain optionality for December." Policymakers on Wednesday are likely to imply its December rate decision between another rate hike of 75 basis points or a smaller move of 50 basis points will be data dependent, Barclays said. Story continues If the Federal Reserve on Wednesday were to make the unlikely decision to raise interest rates by only 50 basis points and Fed Chairman Jerome Powell is dovish during his press conference, stocks could climb by as much as 10% on Wednesday, JPMorgan projected. Here's what else is happening today: Economist Jeremy Siegel expects stocks to soar 30% in 2 years - and house prices to tumble 15% from their peak. Biden is threatening a windfall tax on energy companies after he slammed them for "war profiteering". Tightening oil supply will drive crude oil prices to $115 a barrel by April , says a Goldman Sachs strategist. Investors are flocking to tech and telecom stocks, but they're wrong to see them as defensive plays , says Bank of America. A top energy trader says Russia's expanding 'dark fleet' of tankers won't prevent its oil exports from crashing. Warren Buffett's Berkshire Hathaway has scored about a $13 billion gain on Chevron and Occidental . In commodities, bonds, and crypto: West Texas Intermediate crude rose 2.2% to $88.39 per barrel. Brent crude, the international benchmark, rose 2% to $94.69. Gold gained 0.7% to $1,652.90 per ounce. The 10-year Treasury yield turned higher, soaring 40 basis points to 4.06%. Bitcoin edged up 0.1% to $20,425.11. Read the original article on Business Insider || GLOBAL MARKETS-World stocks stall as U.S. midterms too close to call: * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn * Graphic: World FX rates http://tmsnrt.rs/2egbfVh (Updates prices, adds fresh quotes, Meta news) By Nell Mackenzie and Dhara Ranasinghe LONDON, Nov 9 (Reuters) - World stocks stalled below recent seven-week highs on Wednesday, while the dollar rose as investors awaited the results of the closely watched U.S. midterm election. Bitcoin, the biggest cryptocurrency by market value, fell as much as 5%, a day after sliding 11%. European stock markets and U.S. futures were lower, . Meta Platforms Inc said on Wednesday the Facebook parent would let go of 13% of its workforce, more than 11,000 employees, in one of the biggest layoffs this year. Asian shares edged up as the U.S. midterm election results rolled in, with MSCI's World Stock Index dipping below Tuesday's seven-week peak. Republicans made modest gains in the midterm vote but Democrats did better than expected, and control of Congress and President Joe Biden's agenda was unclear on Wednesday morning. Many of the most competitive races were too close to call. "It does look like it's a bit tighter than expected. The expectation is still for the Republicans to flip the House of Representatives," said Fiona Cincotta, senior markets analyst at City Index in London. Stock markets have tended to perform better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents either side from making major policy changes. Average annual S&P 500 returns have been 14% in a split Congress and 13% in a Republican-held Congress under a Democratic president, according to data since 1932 analyzed by RBC Capital Markets. That compares with 10% when Democrats controlled the presidency and Congress. Florian Ielpo, a portfolio manager from Lombard Odier Asset Management said that Thursday's inflation data was a larger concern for markets than the U.S. midterms. "The perspective of that inflation number overshadows everything else, inclusive of the U.S. political situation. We need lower inflation to keep our eyes off the Fed and start looking elsewhere," said Ielpo, who heads the macro and multi asset departments for the Swiss asset manager. Economists polled by Reuters expect Thursday's inflation data to show a decline in yearly core numbers to 6.5% in October from 6.6% a month earlier. U.S. money markets price in a 50 basis point Fed interest rate hike in December and a roughly 33% chance of a bigger 75-bps increase. Story continues In Asia, Japan's blue-chip Nikkei stock index retreated from a two-month high weighed by poor results from videogame maker Nintendo. Chinese shares slipped as data showed China's producer prices fell for the first time since December 2020, underscoring faltering domestic demand amid COVID-19 curbs. CRYPTO WOES Focus remained on crypto currencies a day after crypto giant Binance signed a nonbinding agreement to buy FTX's non-U.S. unit to help cover a "liquidity crunch" at the rival exchange, in a stunning bailout that raised fresh concerns among investors about cryptocurrencies. Bitcoin dropped, at one point, over 5% to $17,615, while FTX's native token slid a further 23% to $4.417. In broader currency markets, the dollar was steady at around 145.71 yen, while the euro was just a touch softer at $1.0049. Sterling fell 0.78% to $1.1456 having rallied 3.5% in the last three trading sessions. Oil prices edged lower as industry data showed U.S. crude stockpiles rose more than expected and on worries a rebound in COVID-19 cases in top importer China would hurt fuel demand. U.S. crude fell around 0.8% to $88.14 per barrel and Brent was at $94.56, down 0.8% on the day. (Reporting by Dhara Ranasinghe and Nell Mackenzie; Additional reporting by Ankur Banerjee in SINGAPORE and Lucy Raitano in LONDON; Editing by Toby Chopra and Bernadette Baum) View comments || 7 Cheap Small-Cap Stocks to Buy Before the Next Breakout: Although larger companies provide greater stability for investors due to their established businesses, cheap small-cap stocks to buy offer tremendous upside potential. To be fair, this potential comes at a cost in terms of higher risk. However, many investors set aside a small portion of their portfolio for speculation. These discounted market ideas may provide a possible spark. Generally speaking, cheap small-cap stocks to buy tend to be underweight because of their aspirational profile. In other words, the predictability of their business trajectory features many ambiguities, thus leading to volatility risks. At the same time, greater ambiguities tend to offer greater upside should circumstances align favorably. For the purposes of this discussion, I’m indebted to Gurufocus, an investment resource that provides financial breakdowns of public companies. Here, the focus centers on cheap small-cap stocks to buy based on fundamental discounts. So, without further ado, let’s take a look at the flyweights of the equities sector. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cheap Small-Cap Stocks: GoPro (GPRO) image of a white GoPro (GPRO) branded camera Source: Larry George II / Shutterstock.com Synonymous with the action camera industry, GoPro (NASDAQ: GPRO ) helps content creators capture some of the most distinct perspectives. From thrill-seeking excursions to even military combat footage, GoPro both entertains and enlightens the world. Presently, the company features a market capitalization of $844 million. According to Gurufocus, GPRO rates as “modestly undervalued” based on both the investment resource’s propriety calculations and traditional metrics. For example, GPRO features a forward price-to-earnings (P/E) ratio of under 5 times. In contrast, the underlying industry median stands at nearly 13 times. Moreover, GoPro is a surprisingly high-quality business. Its return on equity stands at nearly 72%. This rates better than over 99% of companies tied to the hardware industry. In addition, the company features a net margin of 31.7%, ranking above 97% of its peers. Finally, GoPro enjoys a solid balance sheet, with a cash-to-debt ratio of 1.7 times. In comparison, the industry median is 1.25 times. Therefore, GPRO represents an underappreciated gem among cheap small-cap stocks to buy. Alpha and Omega Semiconductor (AOSL) semiconductor stocks Close-up electronic circuit board. technology style concept. representing semiconductor stocks Source: Shutterstock Headquartered in Sunnyvale, California, Alpha and Omega Semiconductor (NASDAQ: AOSL ) focuses on advanced innovations in the power semiconductor industry. Per its website, the company’s product portfolio targets several industries , including “flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment.” Story continues Currently, AOSL features a market cap of a little over $843 million. Priced at a few cents higher than $30 at time of writing, AOSL suffered from the tech sector rout. On a year-to-date (YTD) basis, AOSL shed almost 51% of equity value. Nevertheless, those interested in speculating on cheap small-cap stocks to buy should put AOSL on their radar. Per Gurufocus, AOSL is “modestly undervalued” and its current P/E ratio sits at a low 1.9 times. In contrast, the median P/E for the underlying industry is nearly 15 times. Of course, a low P/E doesn’t mean much in and of itself. Fundamentally, investors should consider AOSL for its robust balance sheet, highlighted by a debt-to-EBITDA ratio that ranks better than more than 84% of its peers. As well, the company enjoys excellent growth trajectories and solid overall profitability metrics. Cheap Small-Cap Stocks: Photronics (PLAB) PLAB stock: Electronic board, pen, processor on the background of schematic circuit diagram and photomask for manufacture of printed circuit boards. Source: Mentor57 / Shutterstock A specialty tech firm, Photronics (NASDAQ: PLAB ) focuses on photomask products and services. Per its website, it’s the worldwide leader in the space, with applications in mainstream nodes, integrated circuits and flat panel displays. Currently, the company features a market cap of $958 million. Since the start of this year, PLAB dropped 21% of market value, representing a relative discount on the charts. According to Gurufocus, Photronics features a “modestly undervalued” business. Prospective investors of cheap small-cap stocks to buy should note its resilient balance sheet. Most notably, the company commands a cash-to-debt ratio of 6.64 times. This stat ranks higher than 66% of the semiconductor industry. On top of that, Photronics enjoys strong growth trajectories. For example, its three-year revenue growth rate stands at 14.4%, better than almost 66% of its peers. On the profitability side, PLAB’s operating margin stands at 23%. In contrast, the industry median is only 11.3%. Since not many folks appear to appreciate PLAB, you should seriously consider adding it to your list of cheap small-cap stocks to buy. Netgear (NTGR) NTGR stock: Netgear logo on a sign at its Silicon Valley HQ. Source: Michael Vi / Shutterstock Based in San Jose, California, Netgear (NASDAQ: NTGR ) is an American computer networking firm. Per its corporate profile, it produces networking hardware for consumers, businesses and service providers. The company operates in three business segments: retail, commercial, and as a service provider. Presently, Netgear carries a market cap of nearly $596 million. Since the start of the year, NTGR dropped almost 31% of equity value. Intriguingly, though, since hitting an apparent bottom on June 13 of this year, NTGR gained more than 16%. Therefore, it’s one of the cheap small-cap stocks to buy that’s presently on the move. Per Gurufocus, the investment resource rates Netgear as “modestly undervalued” based largely on its proprietary calculations. Against traditional metrics, it’s notable that NTGR’s price-to-sales (P/S) ratio pings at 0.63, favorably below the industry median of 1.17. Prominently, though, Netgear enjoys a stout three-year free cash flow growth rate of nearly 49%. This ranks higher than nearly 85% of the hardware industry. As well, the company enjoys a solid balance sheet, highlighted by a cash-to-debt ratio of 5.74 times. Cheap Small-Cap Stocks: Ceva (CEVA) AI. Circuit board. Technology background. Central Computer Processors CPU concept. Motherboard digital chip. Tech science background. Integrated communication processor. 3D illustration representing semiconductor stocks Source: Shutterstock Headquartered in Rockville, Maryland, Ceva (NASDAQ: CEVA ) plies its trade in the semiconductor industry. Specifically, per its website, the company licenses signal processing platforms, AI processors, sensor fusion software and modules. It also offers chip design services to chip manufacturers and original equipment manufacturers, or OEMs. Presently, Ceva commands a market cap of nearly $605 million. Shares trade hands for about $26 a pop. Since the beginning of this year, CEVA gave up 43% of equity value, drawing some speculators’ attention. However, it’s in the financials where the underlying firm makes its best case for cheap small-cap stocks to buy. According to Gurufocus, CEVA rates as “significantly undervalued” and prominently enjoys a stout balance sheet. For example, its cash-to-debt ratio stands at a meteoric 20 times, higher than nearly 76% of its peers. Conversely, its debt-to-equity ratio sits at a low 0.03 times, favorably below 85% of the industry. As well, the company features decent strengths in key growth and profitability stats. Therefore, it may be a hidden gem among cheap small-cap stocks to buy. Red Violet (RDVT) a stock image of a person working on data charts using a futuristic computer. Source: Shutterstock An analytics firm, Red Violet (NASDAQ: RDVT ) transforms data into intelligence, in a fast and efficient manner, so that its clients can spend their time on what matters most, according to its website. While enterprises have cut back on their expenditures this year due to several macroeconomic headwinds, Red Violet offers relevance because big data represents a viable pathway to competitive success. Of course, Wall Street doesn’t quite see it that way at the moment. Since the beginning of this year, RDVT hemorrhaged nearly 58% of equity value. Presently, the underlying firm features a market cap of $228 million. While it’s one of the smaller of the cheap small-cap stocks to buy, it brings plenty to the table. According to Gurufocus, RDVT rates as “significantly undervalued,” and it’s important for prospective investors not to overlook its balance sheet stability. For instance, Red Violet features a whopping cash-to-debt ratio of 20 times, higher than nearly 71% of its peers. Also, the company enjoys a three-year revenue growth rate of 27.4%, better than 84% of the industry. Cheap Small-Cap Stocks: Luna Innovations (LUNA) a private plane inside a hangar is prepared for a flight. represent aerospace stocks Source: Shutterstock Headquartered in Roanoke, Virginia, Luna Innovations (NASDAQ: LUNA ) is an American developer and manufacturer of fiber-optics- and terahertz-based technology products for the aerospace, automotive, communications, defense, energy, infrastructure, security and silicon photonics industries, per its corporate profile. Therefore, it’s well worth a look among cheap small-cap stocks to buy for its broad footprint. Currently, Luna features a market cap of $152 million, making it a rather small play. Since the start of the year, LUNA stock dropped 45% of equity value. While its losses on the charts invariably brings out the speculators, more conservative-leaning investors can also depend on quality fundamentals. Per Gurufocus, LUNA rates as a “significantly undervalued” investment. Most prominently, the underlying firm features a three-year revenue growth rate of nearly 28%. This ranks better than 92% of its peers. On the bottom line, Luna enjoys a net margin of 9.8%, better than 76% of the industry. Finally, the company features an overall quality profile, with a return on equity of nearly 11%. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 7 Cheap Small-Cap Stocks to Buy Before the Next Breakout appeared first on InvestorPlace . View comments || 15 Biggest Fintech Companies In The World: In this article, we will discuss the 15 biggest fintech companies in the world. If you want to skip our detailed analysis of the fintech industry, you can go directly to 5 Biggest Fintech Companies In The World . The fintech industry is growing rapidly as more and more companies are using technology to create innovative financial products and services. Fintech companies are using technology to create new ways to save, invest, and borrow money. They are also using technology to create new ways to pay for goods and services. The fintech industry is changing the way people track their finances, and it is revolutionizing the financial services sector. An Analysis of The Global Fintech Industry According to a report by The Brainy Insights, the global fintech market was worth $115 billion in 2021 and is on track to reach a value of $936.5 billion by 2030, growing at a compound annual growth rate of 26.2% from 2022 to 2030. This growth is attributed to the improved infrastructure for making payments and for storing and accessing financial data. This includes factors such as better internet connectivity, improved mobile networks, and advancements in disruptive technologies like blockchain and artificial intelligence. Another key driver is the growing investment from both venture capitalists and traditional financial institutions. This investment is helping to fuel the development of new products and services and is also helping to increase awareness of fintech among the general public. According to KPMG, global investments in fintech totaled $210 billion in 2021, up from $125 billion in 2020. The payments segment dominated the share of global fintech investments in 2021 and accounted for $51.7 billion. Investments in blockchain technology and crypto grew from $5.4 billion in 2020 to $30 billion in 2021. Key Trends in The Global Fintech Industry There are a few key trends in the fintech industry that are worth noting. First, there is a trend toward more collaboration between traditional financial institutions and fintech startups. This is happening as traditional financial institutions are starting to realize the potential of fintech to disrupt the status quo. They are also seeing the benefit of partnering with fintech companies to bring new products and services to market faster. Story continues Second, machine learning and artificial intelligence are being used more and more to help automate financial processes and make better decisions. This is a trend that is likely to continue as fintech companies look for ways to improve their products and services. Third, blockchain technology is starting to gain more traction in the fintech industry. This is because blockchain has the potential to revolutionize the way financial transactions are processed. Blockchain technology is secure, transparent, and efficient, and it has the potential to make a big impact on the financial industry. Finally, there is a trend toward more mobile-centric fintech products and services. This is because more and more people are using their mobile devices to manage their finances. Fintech companies are responding by creating more mobile-friendly products and services. According to EY Global's official Fintech Adoption Index , which is a comprehensive survey of 27,000 consumers across 27 key markers, global consumer adoption of fintech services was recorded at 64% in 2019. 33% of respondents reported that they prefer third-party services over financial institutions, 46% of respondents noted that they are comfortable sharing their bank account details with a third-party organization that provides fintech services, and 68% of respondents voted in favor of using a non-financial services company for financial services. This article will discuss in detail some of the biggest fintech companies in the world. These companies are attracting the attention of investors, analysts, and payments giants such as Mastercard Incorporated (NYSE: MA ), Visa Inc. (NYSE: V ), and American Express Company (NYSE: AXP ). Photo by Clay Banks on Unsplash Our Methodology To determine the biggest fintech companies in the world, we studied industry analysis reports and identified key players operating in the fintech space. We filtered out companies that held industry-leading positions and also consulted CFTE's rankings which list the largest fintech companies in the world. CFTE is a leading fintech educational institution, headquartered in London, United Kingdom. CFTE's rankings are updated continuously and are based on data from credible sources. For our compilation, we included both public and private fintech companies. For public companies, we classified them based on their market caps. For private companies, we used data from Crunchbase and other sources to determine the estimated valuation of those companies and verified them with CFTE's data. We have ranked these companies according to their valuations, from least to most. Biggest Fintech Companies In The World 15. SoFi Technologies, Inc (NASDAQ: SOFI ) Market Cap as of November 18: $4.81 Billion SoFi Technologies, Inc (NASDAQ:SOFI) is an American fintech company providing personal loans, student loan refinancing, mortgage loans, and other financial products. The company was founded in 2011 by James Finnigan, Dan Macklin, Mike Cagney, and Ian Brady, and is headquartered in San Francisco, California. The company has a mission to help its members achieve financial success and has a focus on providing excellent customer service. SoFi Technologies, Inc (NASDAQ:SOFI) has been recognized as a leader in the fintech space and has received numerous awards and accolades. As of November 18, SoFi Technologies, Inc (NASDAQ:SOFI) is worth $4.81 billion and is ranked among the biggest fintech companies in the world. 14. Klarna Estimated Valuation: $6.7 Billion Klarna is a Swedish e-commerce company that provides payment solutions for online retailers. Klarna was founded in 2005 and is headquartered in Stockholm, Sweden. The company is one of the leaders in the global fintech space, providing quality purchase experiences to roughly 150 million active consumers across over 450,000 retailers in 45 countries. According to Crunchbase , Klarna has raised $4.5 billion in funding over 28 rounds, with the latest round being held on Jul 11, 2022. Klarna raised $800 million at a post-money valuation of $6.7 billion. Klarna is ranked among the biggest fintech companies in the world. Payments giants that are betting high on the future of fintech include Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and American Express Company (NYSE:AXP). 13. Wise plc (OTC:WIZEY) Market Cap as of November 18: $7.53 Billion Wise plc (OTC:WIZEY) is a fintech company that provides online financial services. The company's platform is used by roughly 15 banks across 11 countries. The company offers a range of services including personal and business payment solutions, credit cards, and foreign exchange. Wise plc (OTC:WIZEY) is headquartered in London, United Kingdom. The company is one of the biggest fintech companies in the world and, as of November 18, is valued at $7.53 billion. 12. Robinhood Markets, Inc. (NASDAQ: HOOD ) Market Cap as of November 18: $7.68 Billion Robinhood Markets, Inc. (NASDAQ:HOOD) is an American financial services company headquartered in Menlo Park, California. The company offers a mobile app and website that allows consumers the ability to invest in stocks, ETFs, and options. Robinhood Markets, Inc. (NASDAQ:HOOD) pioneered commission-free trading and has attracted a consumer base of over 15 million individuals. The company has a market cap of $7.68 billion, as of November 18, and is one of the biggest fintech companies in the world. 11. Coinbase Global, Inc. (NASDAQ: COIN ) Market Cap as of November 18: $11.85 Billion Coinbase Global, Inc. (NASDAQ:COIN) is a leading cryptocurrency asset exchange company. The brokerage offers the exchange of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many other digital assets with fiat currencies in over 100 countries. Coinbase Global, Inc. (NASDAQ:COIN) is one of the biggest fintech companies in the world and has over 108 million users and 245,000 ecosystem partners across the globe. As of November 18, Coinbase Global, Inc. (NASDAQ:COIN) is worth $11.85 billion on the open market. 10. Nubank (NYSE:NU) Market Cap as of November 18: $20.24 Billion Nubank (NYSE:NU) is a Brazilian financial technology company. The company was founded in 2013 by David Vélez, Edward Wible, and Cristina Junqueira. Nubank (NYSE:NU) offers a no-fee credit card, a mobile app, and a website that allows users to track their expenses, pay their bills, and receive notifications about their account activity. The company is worth $20.24 billion, as of November 18, and is ranked among the biggest fintech companies in the world. 9. Chime Estimated Valuation: $25 Billion Chime is a financial technology company that offers digital financial services through a mobile app. The app provides a checking account with no monthly fees, a savings account with no minimum balance, and a debit card that can be used anywhere Visa is accepted. Chime also offers direct deposit, mobile check deposit, and bill pay. According to Crunchbase , Chime has raised $2.3 billion over 9 funding rounds. The company's latest funding round was held on August 13, 2021, and was a $750 million funding round, bringing Chime's valuation to $25 billion. Chime is ranked among the biggest fintech companies in the world. 8. Revolut Estimated Valuation: $33 Billion Revolut is a British fintech company that offers users a mobile app to manage their finances. The app allows users to track their spending, set goals, and make payments. Revolut also offers a prepaid debit card that can be used to make purchases online and in-store. The company has been operational since 2015 and is headquartered in London, United Kingdom. According to Crunchbase , Revolut has raised a total of $1.7 billion over 19 funding rounds. According to Reuters , Revolut is valued at $33 billion, as of July 2021. 7. Block, Inc. (NYSE: SQ ) Market Cap as of November 18: $39.36 Billion Block, Inc. (NYSE:SQ) is a leading American fintech company. The company's flagship product is the Cash app, which allows users to send and receive money without having to use a bank account. The app is available on both iOS and Android devices. The company's app is used by over 40 million individuals and as of November 18, Block, Inc. (NYSE:SQ) is worth $39.36 billion on the open market. Block, Inc. (NYSE:SQ) is ranked high among the biggest fintech companies in the world. 6. Checkout.com Estimated Valuation: $40 Billion Checkout.com is a leading provider of online payment solutions, serving businesses of all sizes across a wide range of industries. The company offers a suite of products and services that enable businesses to accept and process payments online, including credit and debit cards, e-wallets, and bank transfers. Checkout.com is headquartered in London and has offices in the United States and Europe. According to Crunchbase, Checkout.com has raised $1.8 billion over 4 funding rounds. The company's latest funding was held on January 12, 2022, and was a $1 billion funding round. Checkout.com is valued at $40 billion as of January 2022 and is ranked among the biggest fintech companies in the world. Some of the leaders in credit services that are piling into fintech startups and exploring strategic M&A in the space include Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and American Express Company (NYSE:AXP). Click to continue reading and see 5 Biggest Fintech Companies In The World . Suggested articles: 15 Biggest Microchip Companies in the World 10 Biggest Chewing Gum Companies in the World 20 Biggest Gaming Companies in the World Disclosure: None. 15 Biggest Fintech Companies In The World is originally published on Insider Monkey. || 3 Cheap and Ignored Stocks to Buy Before They Rocket Higher: Investing in the stock market is a good way to grow your wealth. But with so many different stocks, it can be challenging to know which stocks to buy. The key to successful stock investing is research. Taking the time to look into each company’s fundamentals and news reports will help you make more informed decisions when buying stocks. Make sure you pay attention to market trends, too, as specific sectors may benefit more than others depending on what’s happening globally. Finally, try not to let emotions like fear of missing out get the better of you on decisions– it’s always best to invest wisely and carefully. For those looking for stocks to buy, now might be a good time to invest in overlooked, “cheap” stocks. While the stock market is volatile, bargain hunters could find great deals if they know where to look. Smaller companies are often more volatile than bigger ones. And their shares may fluctuate in value. It pays to do your research; hidden gold could be buried in these overlooked stocks. However, the stocks on this list boast strong fundamentals and experienced management teams. It is a winning combination for those looking for value without sacrificing safety and security. With some research and prudent decision-making, it is possible to find profitable investments even in an uncertain marketplace. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Price ABNB Airbnb $93.93 FVRR Fiverr International $32.91 M Macy’s $21.76 Airbnb (ABNB) Girl holding smartphone with Airbnb app on screen. City and bay with some boats in the background. Rio de Janeiro, Brazil. ABNB Stock. Source: Diego Thomazini / Shutterstock This year, Airbnb (NASDAQ: ABNB ) has suffered a 45% hit due to broader market volatility. Investors are concerned about the effects of a recession on travel. And even public opinion looming over it could discourage people from bookings. This demonstrates that even with solid revenues and profits, Airbnb cannot entirely escape larger economic forces and challenging global circumstances. For investors, this may bring a caution when considering how firms like Airbnb weather the storm in the current climate. Story continues In the third quarter, Airbnb reported a record $2.9 billion in revenue , rising 29% year-over-year, and handily outpacing analyst estimates by $35.93 million. According to external revenue filings, Airbnb earned $1.2 billion in net income this quarter – up 46 percent year-over-year. This translates to a 42% margin, the best of their history. One of the best stocks to buy before the holiday season is Airbnb. In recent years, more and more people have been opting for short-term rentals over traditional hotels because it’s cheaper, more personalized, and much nicer than staying in an anonymous hotel room. With the global travel market slowly recovering , it is a great time to get involved with this name. Fiverr International (FVRR) The Fiverr website displayed on a mobile phone screen. Source: Temitiman / Shutterstock.com Fiverr’s (NYSE: FVRR ) shares have declined, adding to a more than 70% downfall. This is an attractive price considering that the company’s downfall has stemmed from various factors, industry trends, and external factors. Even though Fiverr has experienced a boost in spending , many people on Wall Street feel there are better ways to drive growth stocks in a recession. Additionally, an increase in cost will put downward pressure on profit margins and reduce profitability over time. Adding fuel to the fire is that Fiverr International is currently not profitable on a generally accepted accounting principles basis. This lack of profitability for a company investing heavily in its long-term growth is understandably concerning to many investors, especially in uncertain times. With the gig economy showing no signs of slowing down, Fiverr is well-poised to take advantage of a massive total addressable market. Per Statista’s report, the gig economy is projected to gross $455.2 billion in 2023. This market will inevitably keep growing as more and more people opt for flexible work options. At the same time, companies are finding that hiring contract workers is a better way to quickly and cost-effectively meet the ever-shifting needs in the modern workplace. Therefore, remaining interested in Fiverr is an inevitably wise decision at any time. Macy’s (M) macy's mall department store storefront Source: digitalreflections / Shutterstock.com Macy’s (NYSE: M ), one of the largest global retailers, deserves kudos for its success in a difficult retail market. While most stores face challenging times, Macy’s has remained strong and steady amidst these painful conditions. This is due to their savvy inventory control attributes. It allows them to adjust supply according to demand while limiting excess stock levels. As the global pandemic significantly impacted the production and distribution of merchandise, many major retailers faced inventory shortages. The situation led to empty shelves and higher prices. However, Macy’s was one of the few that did not experience the same issues. Despite their successful strategy in these difficult times, now that other retailers are offering discounts due to excess inventory caused by the pandemic, Macy’s will undoubtedly have to implement further sales and promotions. This action is expected to reduce profitability. However, more customers visiting in-store should help compensate for lost earnings. It does not look like the streak is in trouble heading into the holiday season. Macy’s has done better than analysts predicted in the last three quarters. It is on a hiring spree, with plans to welcome more than 41000 full- and part-time workers into the fold in the holiday season. That bodes well for the general economy and retail, making Macy’s one of the best stocks to buy. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Cheap and Ignored Stocks to Buy Before They Rocket Higher appeared first on InvestorPlace . || First Mover Asia: QCP Capital Founder Sees Crypto Industry’s Immediate Future Tied to Genesis Debacle, Expects Rebound in 2024: Good morning. Here’s what’s happening:
Prices:Bitcoin returned to its perch comfortably above $17,000 after dipping earlier in the day amid a news report that Binance was the subject of a U.S. federal probe.
Insights:QCP Capital founder Darius Sit told a Tapei Blockchain Week audience that he does not see a recovery before 2024.
CoinDesk Market Index (CMI)
863.60
+2.5▲0.3%
Bitcoin (BTC)
$17,235
+140.3▲0.8%
Ethereum (ETH)
$1,277
+13.0▲1.0%
S&P 500 daily close
3,990.56
+56.2▲1.4%
Gold
$1,792
−5.7▼0.3%
Treasury Yield 10 Years
3.61%
▲0.0
BTC/ETH prices perCoinDesk Indices; gold is COMEX spot price. Prices as of about 4 p.m. ET
Bitcoin Continues Its Side Ways
By James Rubin
A day before they will have a clearer view of the inflation landscape, investors had to reckon with the crypto industry's latest storm clouds: a report that Binance is the subject of a U.S. Justice Department probe, and later Monday, the arrest of former FTX CEO Sam Bankman-Fried.
Bitcoin tumbled below $16,900 at one point before recovering to recently trade at about $17,235, up slightly over the past 24 hours. BTC has spent much of the past two weeks clinging to support above $17,000 and seems likely to continue its tenacious ways for at least another day when the Bureau of Labor Statistics announces November's Consumer Price Index (CPI) report.
Inflation has shown signs of continuing its downward trend of recent months. On Wednesday, the U.S. Federal Reserve will likely drop its latest interest rate increase to 50 basis points (bps) from its current streak of 75 bps hikes, although markets are likely to remain nervously watchful for the time being.
"It's a strong risk-off environment, not just in crypto but across every industry and in every country around the world," Hany Rashwan, CEO of 21.co, the parent company of crypto exchange-trading fund firm 21 Shares, told CoinDesk TV's "First Mover" program. "The easiest way of thinking about this is [in] the last 10 years money has been cheaper to acquire, to borrow. As interest rates go up, the value of money becomes higher, so it becomes harder to get, and as a result people spend more carefully."
Yet, Rashwan added that his firm has "been comforted internally by the plateauing of the bitcoin price within a specific band."
Ether followed a similar pattern to bitcoin, falling earlier in the day before rebounding. The second-largest crypto by market value was recently changing hands at about $1,275, a small gain from Sunday, same time. Most other major cryptos were in the green, with MATIC, the token of layer 2 platform Polygon, and SUSHI, the token of the Sushiswap decentralized exchange, recently rising about 2% and 1%, respectively.
TheCoinDesk Market Index(CDI), an index measuring cryptos' performance, was recently up 0.23%.
U.S. equity indexes closed in an upbeat mood about inflation and the Federal Reserve's expected dovish turn. The tech-heavy Nasdaq and S&P 500 rose 1.3% and 1.4%, respectively.
Meanwhile, according to Reuters, the Justice Department has discussed possible plea deals with Binance's lawyers. Prosecutors in the U.S. Attorney’s Office in Seattle began investigating Binance in 2018 after a spate of cases that saw criminals use Binance to transfer illicit funds, according to Reuters. Other prosecutors believe that more evidence needs to be gathered before a criminal case can be filed, causing a split within the Department of Justice.
Late Monday, the Bahamian Attorney General's office announced the arrest of Bankman-Fried. "SBF's arrest followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition," the office wrote in a release. "As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF's arrest and hold him in custody pursuant to our nation's Extradition Act."
[{"Asset": "Loopring", "Ticker": "LRC", "Returns": "+2.9%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Polygon", "Ticker": "MATIC", "Returns": "+2.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Terra", "Ticker": "LUNA", "Returns": "+1.7%", "DACS Sector": "Smart Contract Platform"}]
[{"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "\u22122.6%", "DACS Sector": "Currency"}, {"Asset": "Decentraland", "Ticker": "MANA", "Returns": "\u22121.6%", "DACS Sector": "Entertainment"}, {"Asset": "Shiba Inu", "Ticker": "SHIB", "Returns": "\u22121.4%", "DACS Sector": "Currency"}]
Genesis Shakeout Will Determine When Crypto Can Rebound
By Sam Reynolds
Everything that could go wrong in crypto has gone wrong in crypto, QCP Capital’s founder and chief investment officer said during a panel at Taipei Blockchain Week. But there are still uses for the asset class, and "green shoots" are emerging.
“We are in a credit crisis triggered by LUNA and UST,” QCP’s Darius Sit said on stage, referring to the Terra token and algorithmic stablecoin. “This means there are cascading effects on everyone that had credit risks, and there are still some landmines in the space.”
Sit said that he sees a great reset and washout caused by the credit crisis, which won't end until investors see whether Digital Currency Group (DCG) and its Genesis Global Trading unit are going to collapse or stay together. (DCG is also the parent company of CoinDesk).
“If this comes apart, there’s another round of defaults,” he said.
Sit pegs a recovery happening around 2024, but macroeconomics will also play a role in this. He noted that the most successful appreciation of digital asset prices came during the COVID-19 pandemic when the U.S. Fed was enlarging its balance sheet. But now the opposite is happening.
As far as the use cases and green shoots go, Sit points to the strength of the stablecoin industry, which Sit says has record revenue. There’s also the continued institutional adoption of the crypto options and derivatives market, where QCP is the most active.
“The trading teams are all former [foreign exchange] people,” Sit said.
If there’s one thing that not even a “dot-com bubble and 2008” can change, it's that everyone is now talking about crypto, Sit said. Meaning, from the cab driver to the banker to the former FX people now trading crypto options and derivatives. Things like NFTs and Web3 gaming will survive this market cycle – but just at a lower valuation.
3:00 p.m. HKT/SGT(7:00 UTC)European Union Harmonized Index of Consumer Prices (YoY/Nov)
9:30 p.m. HKT/SGT(13:30 UTC)United States Consumer Price Index ex Food & Energy (YoY/Nov)
7:50 a.m. HKT/SGT(23:50 UTC)Bank of Japan Tankan Non-Manufacturing Outlook (Q4)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
US Prosecutors Reportedly Split on Charging Binance Over Possible Money Laundering; Bitcoin Trades Sideways
Tuesday, lawmakers will hear from Sam Bankman-Fried after his crypto exchange, FTX, filed for bankruptcy protection. The former CEO is scheduled to testify before the House Financial Services Committee in the first of two hearings this week on the FTX collapse. CoinDesk's Nikhilesh De had a preview of the hearings and an update on the U.S. Justice Department's reported investigation of FTX rival Binance. Also,21.coco-founder and CEO Hany Rashwan shared his crypto markets outlook. Plus, Paul Brody of Ernst & Young kicked off "Crypto 2023: What's Next For Crypto?"
Coinbase Says Law Enforcement Requests Rose 66% From Year Ago:The number of requests from the U.S., which accounted for about 43% of the total, increased by 6%.
Ark Invest Adds Coinbase Stock as Crypto Exchange's Price Slides:The purchase takes the ARK Innovation ETF's holding to 5.7 million COIN shares and marks its first investment in the crypto exchange in a month.
US Prosecutors Look to Charge Binance, Executives on Possible Money Laundering Violations, Reuters Reports:The Department of Justice has also discussed a possible plea deal with Binance's lawyers, the report added.
Bitcoin Group Agrees to Buy German Bank Bankhaus von der Heydt for More Than $15M:The transaction is expected to be completed by the third quarter of 2023.
Bermuda Digital Bank Jewel Issues ‘Fully-Backed’ Stablecoin:The Jewel USD stablecoin will be launching on Polygon.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 16757.98, 16439.68, 16906.30, 16817.54, 16830.34, 16796.95, 16847.76, 16841.99, 16919.80, 16717.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
El Salvador Wants to Attract Bitcoin Talent. Its Strategy Is Working: El Salvador is becoming a proving ground for Bitcoin’s biggest ideas.
“I really see El Salvador as being the Switzerland of Latin America, if this experiment goes successfully,” Ray Youssef, CEO of peer-to-peer crypto exchange Paxful, said over Zoom.
OnSept. 7, El Salvador will become the first country in the world to adoptbitcoinas legal tender. That could open a new age for the struggling Latin American economy, President Nayib Bukele, the prime mover behind the so-called “bitcoin law,” said. It also opens a new frontier for bitcoiners looking to test their economic and social theories.
Related:UK Court Orders Bitcoin.org to Remove White Paper Following Craig Wright Lawsuit
Bitcoin will not just be a companion currency to the U.S. dollar, but a cornerstone of the nation’s efforts to modernize and digitize its economy. Bukele wants El Salvador to become a bitcoin mining hub – potentially tapping into its richgeothermal resources– as well as a center for blockchain software development and a paradise for the crypto rich.
“Why create this law? Because bitcoin has a $600 billion market capitalization globally, and if we do this, investors and tourists who own bitcoin will come to the country and benefit Salvadorans and the economy,” Bukele said at a national address on Thursday.
He’s making an attractive offer for outsiders and citizens alike by eliminating a capital gains tax on the cryptocurrency and building a state-backed wallet, which will come pre-loaded with $30 worth of BTC for adult citizens. The plan is a “leap forward for humanity,” not just Bitcoin, he told Peter McCormack when the podcaster traveled to El Salvador recently.
Although the nation’s plans are still being drafted, a series of interviews with Bitcoin startups and founders suggest that bitcoiners are ready to invest their time and money to help El Salvador (population 6.5 million) establish the first bitcoin standard.
Related:Morgan Stanley Buys Over 28,000 Shares of Grayscale Bitcoin Trust
Youssef, an evangelist for bitcoin in the developing world, is one of a growing number of crypto entrepreneurs who have made their way to the country looking for opportunities to expand their businesses and assist the government in setting up a parallel monetary system.
Blockstream, a Bitcoin infrastructure company, is one of the most ambitious in this pursuit. On June 5, it pledged provisions to connect El Salvador with its Blockstream Satellite program, a way to synchronize with the Bitcoin network during times of internet outages or shutdowns, and it announced plans to openbitcoin miningfacilities.
Samson Mow, chief strategy officer at Blockstream, told CoinDesk the company has shipped two satellite kits to the country and said “early-stage” but “high-level” conversations are happening around “volcano mining” (or mining powered geothermal power).
It doesn’t end there. Mow said Blockstream Financial, a new corporate division, is working to structure “a few potential bond offerings” on the Liquid network, a bitcoin scaling system backed by Blockstream.
That project is also in its infancy, and details of what may be the first state-backed, blockchain-based securities offerings are scant. One particular: The bonds might be floated to finance the state’s mining operations, which would tap into currently stranded geothermal energy, Mow said. Volcano mining is capital intensive.
“The bond offerings we’re proposing will be a critical component of the bitcoin development of El Salvador,” Mow said. “It seems like they can get this done quickly.”
This is a key theme in the story so far: El Salvador is ripe with potential. It has a motivated government (which passed the bitcoin bill with a supermajority) and the support of the global bitcoin community, though some of these ideas appear founded on shaky ground.
The bitcoin bill is an experiment that could go terribly wrong, economists and media pundits have warned. In areport, Fitch Ratings said the country’s plans would increase regulatory risks for financial institutions. The International Monetary Fund and World Bank have also voiceddisapproval.
Volcano mining, crypto in space and the widespread use of the Bitcoin Lightning network sound like science fiction. But those efforts are real and “hyperbitcoinization” is a real goal. The El Salvador experiment, Mow said, will serve as a blueprint for the world.
“El Salvador is a key point in that battle. If they can succeed, it paves the way for much broader bitcoin adoption in the world,” he said. And for “making things like the IMF and the World Bank obsolete.”
Youssef went to El Salvador as part of an “official delegation of Bitcoin ambassadors,” organized by Brock Pierce, a former child movie star and a co-founder of Block.oone, a blockchain software company. Youssef spent only a few hours with that delegation, shaking hands and speaking with government officials, but said Bukele’s cabinet is of a “younger, progressive” breed, hyper-focused on the goal of “bitcoinization.”
Youssef spent the majority of his two-day stay in El Salvador atBitcoin Beach, a small coastal community that has experimented with bitcoin payments. (Bukele pointed to the privately funded project as a microcosm for what bitcoin adoption across the nation could look like.)
It was there that Youssef made his first Lightning transaction in the country. While bitcoin has largely functioned as a speculative store of value in wealthier nations, he thinks the path to “mass adoption” is paved through peer-to-peer payments. It’s also where his business opportunity lies, albeit indirectly.
“The first challenge is getting bitcoin into the country and that’s something that we did in Africa,” he said, referring to Paxful’s footprint in countries like Nigeria and Kenya. Consumers typically pay more persatoshiusing a P2P exchange, because they are often buying from a small pool of sellers, but fees are often lower and it’s a quicker way to take direct possession of your coins. (On the day I spoke with Youssef, for instance, there was a $10,000 premium on BTC in El Salvador.)
Paxful already has an active market in El Salvador, but Youssef says he’s looking at the country as a potential base for further expansions in the region. His company has hired an associate of growth for South America and is searching real estate for an office. Paxful has about 450 employees globally, Youssef said.
“All I want to do is build the kind of street team that can go around beyond Bitcoin Beach to the capitol city, to the malls, to universities, and just educate people face-to-face about what Bitcoin is,” Youssef said. In particular, he is interested in teaching people about using BTC as an actual currency. “That’s the narrative we find truly drives adoption,” he said.
Swan Bitcoin, a bitcoin exchange, has a similar plan. The company is looking to rent or buy a “Swan House” in El Zonte to serve as a base for its marketing efforts in the region. CEO Cory Klippsten sees that as a place for bitcoiner friends to stay and work when traveling to El Salvador and a chance to “create great content … and educate the world about bitcoin by being on the ground.”
There isn’t a direct way to monetize the effort. Swan makes its money from selling bitcoin to “people with a lot of fiat,” Klippsten said, but it’s a price worth paying to spread the word of Bitcoin. “It looks like altruistic education, and it is, but that’s our marketing,” he said
Like Youssef, Klippsten envisions a world where bitcoin will make the transition from being primarily a store of value into a widely used, global currency. Education paves the way to that reality, which eventually means more people buying bitcoin on Paxful and Swan.
Before Bukele came on the scene, El Salvador was not the first place people would associate with Bitcoin. Remittances, which make up more than a quarter of the nation’s economy, were rarely sent in the cryptocurrency. And while Bitcoin Beach was proving to be a successful experiment, the crypto economy in the country was still small.
Matias Goldenhorn, director for Latin America at U.S.-based Athena Bitcoin, a crypto ATM company that operated some of El Salvador’s only crypto ATMs, told CoinDesk the company decided to pursue countries south of the border to take bitcoin “to the people who need it the most.”
The company recently received a$1 million investmentto expand its fleet of ATMs from two to 1,500 in the country. That would make El Salvador one of the most saturated markets for crypto ATMs.
Mexico-based Bitso, one of the largest cryptocurrency exchanges in Latin America, is also apparently looking to expand its operations. The company declined an interview, but offered this statement:
“We have made a commitment to work with the people of El Salvador on supporting and building the vision of Bitcoin for the country and are looking forward to being part of this evolution. We believe Bitcoin can in El Salvador and Latin America have a positive impact on the lives of millions, and recognize that there are many more beneficial Bitcoin developments to come.”
“I don’t want to pretend to be too altruistic,” Justin Newton, CEO of software security firm Netki, said. “What we do is we provide KYC and AML tools, right? We help customers with know-your-customer, anti-money laundering. If they’re successful down there, it creates a great market for us.”
Newton, another one of Brock Pierce’s delegates, was in and out of the country for a single day of meetings. His firm, which was founded in 2014, provides compliance tools for companies. About 70% of its clients are in crypto, and almost of those are private companies. He didn’t go to El Salvador with a plan to court the government or any one business in particular.
“If I go down there and I can help them be successful, it creates the environment that allows my company to be successful,” he said.
• Market Wrap: Cryptocurrencies Rise Despite Binance UK Warning
• Mexico’s Finance Minister Confirms Cryptos Are Banned From Financial System || Bitcoin (BTC) Has Roller Coaster Weekend, Revisits Crucial Support: Bitcoin (BTC) decreased considerably last week, approaching the May lows near $30,000.
While a short-term bounce could occur, it seems that both the daily and weekly trends are bearish.
The weekly BTC chart provides a bearish picture. Bitcoin appeared to have begun a bullish movement two weeks ago after creating a bullish hammer candlestick with a long lower wick. The bounce occurred right at the $32,500 long-term horizontal support area (green icon).
However, it created a bearish candlestick last week,engulfingthe previous bullish candle and negating the bullish sentiment.
Despite still trading above support, technical indicators are bearish. The MACD histogram has crossed into negative territory, the RSI has fallen below 50, and the Stochastic oscillator has made a bearish cross.
If a breakdown occurs, the next support would be found at $27,000. This target is the 0.618 Fib retracement support level.
The daily chart also provides a bearish outlook. BTC has been falling since it was rejected by the $41,250 resistance area on June 15 (red icon).
Technical indicators are bearish. The MACD histogram has given a bearish reversal signal (red icon) and its signal line is well below 0. The RSI is also below 50 and decreasing, and the Stochastic oscillator has made a bullish cross but has lost all of its strength.
These readings support those from the daily time frame in suggesting that BTC is expected to eventually break down.
The two-hour chart shows some bullish signs in the form of a bullish divergence in both the RSI and MACD during the most recent lower low. Following this, BTC created a higher low.
However, it’s facing strong resistance from the $35,000 area in the form of both a descending resistance line and a horizontal resistance level.
Breaking out above this level would indicate that the price is likely heading towards the 0.382, 0.5, or 0.618 Fib retracement resistance levels.
Nevertheless, this would most likely be just a short-term bounce in a longer-term bearish trend.
The wave count shows that BTC is likely in cycle wave four (red) of a bullish impulse that began on Dec. 2018. It is now decreasing, potentially completing afourth wave pullback. The wave count is given in white. It indicates that BTC is likely still in the first part of the correction.
The 0.618 Fib retracement support level is at $27,000, while the resistance line of the channel near $20,000.
A move that lasts as long as cycle wave two (red) would continue until the end of December 2021. However, other potential length ratios are the 0.382 and 0.618 Fib time levels. The former ends on July 19 while the latter on Sept. 20.
A decrease below the wave 1 high at $13,880 would invalidate this wave count.
The daily chart shows the sub-wave count in orange. It shows that BTC is in the fifth and final wave of a bearish impulse, that completes wave A.
There is a confluence of Fib targets between $23,500 and $23,070, found by the length of sub-wave 1 and an external retracement on sub-wave four.
If this fails to play out, the next most likely target would be $19,800, found by using a Fib projection on the length of sub-waves 1-3.
While the very short-term wave count is not entirely clear, the downward movement looks impulsive. In addition, the upward movement that led to the $41,341 high looks corrective.
Therefore, it’s likely that BTC is in minor sub-wave one (black) of a bearish impulse that will gradually take it towards the previously outlined target near $23,000.
For BeInCrypto’s previousbitcoin(BTC) analysis,click here. || Don’t Blame Bitcoin for Ransomware: Amid the growing geopolitical threat of ransomware, crypto has become a stalking horse. Following a slew of high-profile exploits, there have been calls to ban or surveil blockchain networks, with the thinking that bitcoin catalyzes cybercrime. The risks of ransomware are real: Any organization that relies on computers may be vulnerable to digital extortion. The threat isn’t always clear: Malware can be developed or deployed by individuals, state-backed groups or hacking collectives. And the price is high: Computer hijackings can disrupt critical infrastructure from the electricity grids to watersheds, endangering lives and economies. This article is excerpted from The Node , CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . Related: Inflation Is Rampant. Is It Time to Buy Bitcoin? Considering the amorphous threat that ransomware presents, crypto seems like a vector for concrete action. After all, the Colonial Pipeline hackers were paid in BTC. So was REvil, a group that once attacked Apple, and which was paid $70 million in bitcoin for its recent Kaseya exploit. A new crowdfunding site, Ransomwhe.re , looks to track bitcoin payments to wallets associated with ransomware gangs. But blaming crypto for the rise in ransomware is a mistake, said Marcus Hutchins, a British computer security researcher with a storied career in the malware industry. In a video titled “Why Destroying Bitcoin Wouldn’t Stop Ransomware,” Hutchins notes that hackers will find a way, with or without bitcoin. “Cryptocurrency has certainly made ransomware more accessible and contributed to its proliferation, but without it these kinds of attacks would have persisted,” he told CoinDesk. When the malware industry first emerged in 2012, it was the norm to accept U.S. dollars for exploits. While the recent trend of corporate hacks has primarily been funded through crypto – Chainalysis found crypto payments to ransomware spiked to $412 million last year – that’s not reason enough to take action against a nascent industry. Story continues Related: State of Crypto: Binance Is Firmly in the Regulatory Crosshairs “We have absolutely no data on what corporate ransomware attacks might look like without cryptocurrency. We can only theorize based on past techniques, but not future innovations. Therefore, advocating banning cryptocurrency to stop ransomware is naive at best,” he tweeted . Hutchins is renowned in the hacker community for stopping WannaCry in 2017, at the time the largest ransomware attack, which infected hundreds of thousands of computers worldwide and shut down over a dozen U.K. hospitals. He’s also the architect of darknet sites, botnets and malware scripts. As a teenager, Hutchins began spending time on web forums, where he fell into ghostwriting malicious code. It paid well, in recreational drugs and bitcoin. One script would eventually land him in U.S. custody, in a story told in full by Wired . Since reformed, Hutchins has worked to reverse engineer malware and provide security advice. He also started a popular blog called Malware Tech. Having watched the ransomware industry evolve over the past decade, Hutchins says emphatically that the recent rise in ransomware cannot be pinned on crypto. CoinDesk caught up with him to hear more. Is there a natural rate of ransomware attacks we might expect even if bitcoin/crypto were banned/never existed? Cryptocurrency has certainly made ransomware more accessible and contributed to its proliferation, but without it these kinds of attacks would have persisted. The sophisticated cyber-crime groups have access to money laundering networks, so are capable of working with USD. It’s impossible to estimate how much ransomware there’d be without cryptocurrency, because today’s corporate targeted ransomware only came about around 2016, when cryptocurrency was already the norm for payments. Some have said bitcoin is a horrible currency to use for criminal operations as every transaction is recorded. What happened after the Colonial Pipeline hack is case in point. What do you think? Typically bitcoin is preferred, as it can facilitate fast, frictionless, automated payment validation infrastructure. But, due to its traceable nature, many gangs opt to cash out the bitcoin and launder in USD instead. You’ve noted that ransomware uses the banking system, money transmitters like Western Union, alternatives like Liberty Reserve and crypto. Considering the scope and history of cybercrime, is the only potential solution to ransomware more surveillance of all financial systems? No. This is not a solution at all, only a partial mitigation. While gangs are capable of operating with impunity from non-extradition countries, it doesn’t matter how easily they can be tracked down if they cannot be arrested or stopped. The way hackers are written about sometimes paints ransomware as a professionalizing industry. Does this square with your experience? Yes, some of these groups have complex organization structures with departments, management and task pipelines. What would you generally recommend to a company or government that has been infected? It’s important to undergo an external IR to investigate the full scale and scope of the attack. NTT, a Japanese tech services provider, found that cryptojackers made up 41% of all detected malware in 2020. What do you make of this trend? Is this cause for legitimate concern? Is it just a matter of rising crypto prices? Cryptojacking is one of the ways to monetize device access with the lowest barrier to entry; as a result, it’s accessible to even the lowest skilled hackers, thus very widespread. Due to the non-destructive nature of cryptojacking I believe it’s something to be addressed, but not a high priority threat like ransomware. Related Stories The Bear Case for Bullish Is Spelled E-O-S Condo Management Meets Decentralized Governance || Bitcoin dreams dry up in China as country's last mining refuge falls in line with Beijing amid national crackdown: China's crackdown on bitcoin has turned dozens of companies from model energy consumers into pariahs in the span of a year, sowing confusion and frustration in an industry that has an outsize share of the world's cryptocurrency mines. Nine out of 26 bitcoin mines named in a shutdown order last week in southwestern Sichuan province were once feted as model enterprises, helping the landlocked region at the foothills of the Tibetan Plateau soak up its surplus electricity produced by abundant hydropower. Most of the mines call themselves technology or big data companies, including the words in their names. Bitcoin farms, where arrays of energy-sapping computers solve tough mathematical problems to generate new digital "coins", have sprouted up all over Sichuan, Inner Mongolia and Xinjiang in recent years, driven by dreams of instant wealth as the price of the largest cryptocurrency surged sevenfold over the last year, surpassing US$63,000 per bitcoin in May before losing nearly half that value over the following month. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Local authorities eager for investment had largely welcomed the mining operations taking advantage of the cheap electricity in those regions. SCMP Graphics alt=SCMP Graphics An investor of one of the 26 named entities, who spoke on condition of anonymity because of the sensitivity of the issue, said he is now trying to move his bitcoin mining farm to Russia. He estimated the cost of moving the entire operation at US$80,000, which includes the value of bitcoin he expects to miss out on while the computers are shut down for more than a month. Some owners of mining companies are suffering from mental stress, he added. Kangding Zhitong Hulian Technology, one of the named companies in Kangding prefecture, halted mining in mid-June, before the province issued a shutdown order last week, but it is unsure about its next steps, according to a person familiar with the company's operations. Story continues Heishui Kedi Big Data Technology in Heishui county, when reached by phone, said simply the company was not mining cryptocurrency before hanging up. Other companies on the government's list declined to comment when reached by South China Morning Post . Calls to 15 of the companies were not answered. Before the bitcoin mining boom, remote and barren river valleys on Sichuan's western rim were devoid of heavy industry. In recent years, authorities in Ya'an city, Ganzi prefecture and other sparsely populated areas courted the cryptocurrency industry to make use of surplus hydroelectric power. SCMP Graphics alt=SCMP Graphics In 2020, Sichuan consumed 286,520 gigawatt-hours (GWh) of electricity, but an additional 136,356 GWh produced in the province was sent elsewhere, according to the Sichuan Electric Power Company. The province had 20.2 billion kilowatt-hours of wasted hydropower last year, according to the National Energy Administration. In 2019, Cryptocurrency miners thought provincial authorities had given the industry their blessing when Sichuan allowed regional governments to set up "hydropower consumption industrial parks", offering lower electricity prices to investors. A model industrial park established in Liangshan Yi Autonomous Prefecture that year even managed to lure five bitcoin mines that called themselves big data companies, said Colin Wu, a blogger who writes about blockchain and cryptocurrency. China's national government, which has banned financial institutions from dealing in cryptocurrencies since 2017, started tightening the screws on the mining industry in May, citing risks to the country's financial system, with the crackdown intensifying this month. The energy-sapping industry could also make it harder for the country to achieve its goal of carbon neutrality by 2060, especially in regions relying more on coal power plants. Inner Mongolia, which was under pressure to meet its emission reduction obligations, was the first to ban bitcoin mining, followed by Qinghai and Xinjiang . Any hopes of leniency by Sichuan's miners were dashed on May 21, when Vice-Premier Liu He, the Chinese president's trusted lieutenant in economic and financial matters, was picked to lead the crackdown on cryptocurrencies. A Tibetan bitcoin mine manager walks between aisles of mining machines in Sichuan on September 26, 2016. Photo: EPA alt=A Tibetan bitcoin mine manager walks between aisles of mining machines in Sichuan on September 26, 2016. Photo: EPA Still, Sichuan authorities were slow to react. The provincial energy authority conducted a symposium on June 2 with power companies to look into the electricity consumed by the mining industry. Two weeks later, everything changed. Local authorities gave their shutdown instructions and ordered power companies across the province to look into their clients and root out mining operations. The provincial branch of the National Development and Reform Commission and the Sichuan Energy Bureau jointly published the list of 26 companies, mostly incorporated in 2020 and 2021 in response to Sichuan's push to lure large energy consumers, giving them 48 hours to close down. In other parts of China, bitcoin miners are also busy packing up their equipment to be sent to new destinations such as Central Asia and the United States . About 10 per cent of the world's bitcoin mining was done in Sichuan as of April 2020, according to the Cambridge Bitcoin Electricity Consumption Index. The western region of Xinjiang was the largest area for bitcoin mining in China, accounting for more than a third of the global hash rate. This article originally appeared in the South China Morning Post (SCMP) , the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2021 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2021. South China Morning Post Publishers Ltd. All rights reserved. || Bitcoin rises as UK financial watchdog bans Binance cryptocurrency exchange: The cryptocurrency market has shrugged off news of Britain’s financial watchdog banning one of the world’s largest Bitcoin (BTC-USD) exchanges from operating in the country.
Over the weekend the Financial Conduct Authority (FCA) ordered Binance Markets to remove all advertising and financial promotions by Wednesday 30 June. In one of the most significant moves by a regulator to date, the FCA said that the firm must not carry out any regulated activities in Britain without prior consent.
Binance, which was founded by Canadian-Chinese developer Changpeng Zhao, is now required to make clear on its website, social media platforms, and all other communications that it is no longer permitted to operate in the UK.
Despite the ban, Bitcoin rose more than 5% on Monday to $35,017 (£25,188), although it is still lower than at the start of the month following China’s recent crackdown on bitcoin miners.
The wider cryptocurrency market also pushed ahead, with ethereum (ETH-USD), the world’s second largest coin, up 10% as average transaction fees on the coin dropped to their lowest since December 2020. Elon Musk-favourite dogecoin (DOGE-USD) also climbed 3.4%.
According to CoinGecko, the broad crypto space was up around 8% to $1.43tn on Monday morning.
“We’re seeing the $30,000 level on bitcoin being defended quite well with a number of tests at that level over the past month,” Vijay Ayyar, head of Asia-Pacific at crypto exchange Luno Pte, told Bloomberg.
“We saw a lot of downward pressure on prices being defended, so this looks quite bullish at this point.”
It comes amid a crackdown on the cryptocurrency sector as money laundering and fraud cases rise globally. It also comes just days after the Japanese financial regulator issued a consumer warning against Binance.
US and German regulators have also raised concerns over the firm’s activities in the past.
Since the start of this year, crypto-related businesses must register with the FCA before doing business in the UK, however, most firms have been granted “temporary registration” until July. Earlier this month, the watchdog said that just five firms had registered, and that the majority were not yet compliant.
On Sunday, Binance said on Twitter: “Binance Markets 'does not offer any products or services via the Binance.com website'. The Binance Group acquired BML May 2020 and has not yet launched its UK business or used its FCA regulatory permissions.”
Binance Group is currently based in the Cayman Islands, while Binance Markets Limited is an affiliate firm based in London.
Watch: What is bitcoin?
A spokesman for the FCA said: “A significantly high number of cryptoasset businesses are not meeting the required standards under the money laundering regulations, which has resulted in an unprecedented number of businesses withdrawing their applications.
“The action taken today on Binance Markets Limited has been in train for some time.”
Of the firms assessed, more than 90% have withdrawn applications following the FCA’s intervention.
Cryptos have been boosted by institutional support in recent months. As well as Tesla (TSLA), several organisations, including MicroStrategy (MSTR), have invested billions of dollars into cryptocurrencies and traditional financial firms like PayPal (PYPL) and Goldman Sachs (GS) started to handle the asset on behalf of clients.
However, they have also faced staunch opposition from governments and central banks, which have been keen to regulate digital currencies.
Read more:Bitcoin, Dogecoin sink after Elon Musk walks back Tesla's support for crypto transactions
Bank of England (BoE) governor Andrew Bailey said that digital currencies will not get a regulatory "free pass" in the future, despite their potential for innovation, doubling down on his earlier position that bitcoin is not money, and has no intrinsic value because it has no backing.
"First and foremost is the potential for consumer harm, both through fraudulent activity and from losses sustained from crypto trading," Laith Khalaf, financial analyst at AJ Bell, said.
"FCA data released last week showed that over two million Britons now hold crypto, and while the majority appeared to be taking a sensible and measured approach, 14% had borrowed money to fund their investment, leaving them at high risk of suffering losses and being saddled with a nasty debt hangover."
He added: "Financial watchdogs will also be keeping an eye on systemic risks that might emerge from crypto markets. The financial crisis was a wake-up call to governments across the world that even with considerable oversight, financial markets can build up a head of steam that leaves them hurtling towards a cliff edge.
"Crypto markets aren’t big enough to pose a serious systemic threat right now, but should they continue to grow and proliferate, regulators won’t be complacent on this front.
Watch: What are the risks of investing in cryptocurrency? || El Salvador is playing a dangerous game by betting big on bitcoin: In El Salvador, merchants are now legally required to accept bitcoin (Getty Images) Fintech events are rarely famous for their theatrics, but bitcoin s Miami conference last week was an exception. This was a bitcoin-only conference. Most of the speakers, from skateboarder Tony Hawk to boxer Floyd Mayweather, repeated the mantra that bitcoin fixes everything. El Salvador s President, Nayib Bukele was also there to proclaim bitcoin the Central American countrys new official currency. Unlike most sensible bitcoin hodlers, Bukele plans for his 6.5 million subjects to be spending their bitcoins every day. All Salvadoran merchants are now legally required to accept bitcoin. Bitcoiners are normally vocal in their dissent towards authoritarian government, or any sort of government. But the presidents news went down a treat, sparking a surge in crypto markets . Bukele is an autocrat for the TikTok generation. When invited to speak at the UN General Assembly in 2019, he addressed world leaders while tweeting a selfie at the podium and announcing future sessions should be limited to a Skype call. Despite sacking the countrys entire constitutional court and attorney general shortly after taking office, and using the army to swing votes in his favour, Bukele has consistently enjoyed an approval rating of above 90 per cent. While some governments are coming down hard on bitcoin, Bukele is not the only populist leader to buck the trend and add bitcoin laser-eyes to his Twitter profile. President Rodrigo Duterte of the Philippines has signed off plans for a Crypto Valley of Asia, complete with its own airport and power plants for crypto mining. Like Bukele, the Philippines president regularly attracts flack for heavy-handed leadership , including allegations of human rights abuses. For both leaders, the repression of civil liberties has been pushed forward in the name of law and order. Facing a huge public debt crisis , the Caribbean island of Puerto Rico has also become a hub for crypto developers, attracted by short-sighted tax incentives and light-touch regulation. Like Puerto Rico, El Salvador is in a pickle with its finances. Story continues Bukele is seeking a $1bn IMF loan to help his country weather the pandemic and to fund his anti-crime push. But for the IMF, Bukele is not a safe pair of hands. Theyll be concerned that the countrys Bitcoin Law was developed by a 27-year-old crypto-investor, Jack Mallers from Chicago. In giving bitcoin equal footing with the US dollar, El Salvadors loans could be put on hold by the US, which is already facing a border crisis from Salvadorans fleeing poverty. Dollars sent home by the two million Salvadorans already living in the US accounts for more than 20 per cent of El Salvadors GDP. Bukele hopes a shift to bitcoin will help his country claw back the big chunk swallowed up by foreign money transmitters. Bukele claims the shift will enable the countrys unbanked majority to access credit, savings, investments and secure transactions. Hes also promised immediate permanent residence for crypto entrepreneurs without having to pay property or capital gains tax. But recent research from Northumbria University suggests a downside to this plan. Offering these sorts of tax breaks means countries like El Salvador will continue to struggle to raise funds for basic services such as healthcare and education. Crypto-rich individuals will snap up the most sought-after properties, while touting the benefits of evading taxes via cryptocurrency as a means of helping the locals. The underlying poverty issues in many cases could be solved with tax systems that target the incoming crypto-rich. Bitcoin can do very little to address the structural problems preventing Salvadorans from accessing financial services. Up to 49 per cent of adults without bank accounts simply dont have the necessary documentation to open them. Others may not have a stable income to warrant it. Bitcoin on its own cant solve either of these problems. Bitcoin is a terribly inefficient payment system with exorbitant fees . But the El Salvador project aims to use Mallers payment platform, Strike, which he described as a bitcoin neo-bank and is untested at scale. Bitcoiners usually detest centralised banks. After all, bitcoin was designed as electronic cash, without the need for banks or intermediaries. But bitcoin can handle only seven transactions every second. VISA, by comparison, handles around 1,700 payments per second. For day-to-day use, bitcoin cant work without a bank of some kind. But a question remains as to whether the savings of millions of the worlds poor are better off managed by the Bank of Jack, or a real bank. Latin America is no stranger to hyperinflation. But bitcoins price can drop by half in just a day or so. Its done so twice in the past 18 months. Plans have been set up for a $150m trust at a state-run bank, but this is unlikely to provide the cushion necessary, should another derogatory tweet from Elon Musk send crypto prices plummeting. As well as beachfront living, Bukele is also offering up the countrys volcanoes to incoming bitcoiners. El Salvadors state-owned geothermal electric company is dedicating a 95-megawatt facility for green bitcoin mining. But mining bitcoin comes with antisocial side effects, including energy shortages and price increases for everyone else. El Salvador does not produce enough energy to meet its existing needs, importing 25 per cent of its electricity from elsewhere in the region. According to the World Bank , the high cost of electricity in El Salvador is a big barrier to growth and a driver of poverty. Bitcoiners will only make that worse. To secure holes in El Salvadors finances, Bukele has run out of options beyond US demands to re-establish an independent judiciary, a commitment to the separation of powers and a strong civil society [that] are essential components of any democracy. El Salvador is blighted by poverty and gang violence, and it has one of the worlds highest murder rates . Betting on bitcoin a payment method favoured by criminals as the countrys official currency, is unlikely to fix that. Pete Howson is a senior lecturer in International Development at Northumbria University This article was amended on 14 June 2021. It had previously said that delegates could not pay their entrance fee using Bitcoin, but that was not the case across all platforms. Read More Watch in full: Boris Johnson announces delay in Covid lockdown restrictions easing Bitcoin: Why Chinas crackdown isnt enough Bitcoin mining is disastrous for the environment it is time for governments to intervene || Should Value Investors Pick Primerica (PRI) Stock Now?: Value investing is easily one of the most popular ways to find great stocks in any market environment. After all, who wouldn’t want to find stocks that are either flying under the radar and are compelling buys, or offer up tantalizing discounts when compared to fair value?
One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. Let’s putPrimerica, Inc. PRIstock into this equation and find out if it is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks:
PE Ratio
A key metric that value investors always look at is the Price to Earnings Ratio, or PE for short. This shows us how much investors are willing to pay for each dollar of earnings in a given stock, and is easily one of the most popular financial ratios in the world. The best use of the PE ratio is to compare the stock’s current PE ratio with: a) where this ratio has been in the past; b) how it compares to the average for the industry/sector; and c) how it compares to the market as a whole.
On this front, Primerica has a trailing twelve months PE ratio of 15.37, as you can see in the chart below:
Image Source: Zacks Investment Research
This level actually compares pretty favorably with the market at large, as the PE for the S&P 500 stands at about 28.27. If we focus on the long-term PE trend, Primerica’s current PE level puts it below its midpoint over the past five years.
Image Source: Zacks Investment Research
Further, the stock’s PE compares favorably with the Zacks Finance sector’s trailing twelve months PE ratio, which stands at 19.09. At the very least, this indicates that the stock is relatively undervalued right now, compared to its peers.
Image Source: Zacks Investment Research
We should also point out that Primerica has a forward PE ratio (price relative to this year’s earnings) of just 13.96, so it is fair to say that a slightly more value-oriented path may be ahead for Primerica stock in the near term too.
P/S Ratio
Another key metric to note is the Price/Sales ratio. This approach compares a given stock’s price to its total sales, where a lower reading is generally considered better. Some people like this metric more than other value-focused ones because it looks at sales, something that is far harder to manipulate with accounting tricks than earnings.
Right now, Primerica has a P/S ratio of about 2.64. This is lower than the S&P 500 average, which comes in at 5.29 right now. Also, as we can see in the chart below, this is below the highs for this stock in particular over the past few years.
Image Source: Zacks Investment Research
If anything, PRI is in the lower end of its range in the time period from a P/S metric, suggesting some level of undervalued trading—at least compared to historical norms.
Broad Value Outlook
In aggregate,Primerica currently has a Zacks Value Score of A, putting it into the top 20% of all stocks we cover from this look. This makes Primerica a solid choice for value investors.
What About the Stock Overall?
Though Primerica might be a good choice for value investors, there are plenty of other factors to consider before investing in this name. In particular, it is worth noting that the company has a Growth Score of F and a Momentum Score of C. This gives PRI a Zacks VGM score — or its overarching fundamental grade — of A. (You can read more about the Zacks Style Scores here >>)
Meanwhile, the company’s recent earnings estimates have been encouraging. The current year has seen five estimates go higher in the past sixty days compared to three lower, while the full year 2021 estimate has seen three upward revision compared to one downward in the same time period.
This has had a positive impact on the consensus estimate though as the current year consensus estimate has risen by 19.7% in the past two months, while the full year 2021 estimate has improved by 1.4%. You can see the consensus estimate trend and recent price action for the stock in the chart below:
Primerica, Inc. price-consensus-chart | Primerica, Inc. Quote
Despite this positive trend, the stock has a Zacks Rank #3 (Hold), which indicates expectations of in-line performance from the company in the near term.
Bottom Line
Primerica is an inspired choice for value investors, as it is hard to beat its incredible line up of statistics on this front.
However, with a sluggish industry rank (among bottom 17% of more than 250 industries) and a Zacks Rank #3, it is hard to get too excited about this company overall. In fact, over the past two years, the Zacks Insurance - Life Insurance industry has clearly underperformed the market at large, as you can see below:
Image Source: Zacks Investment Research
So, value investors might want to wait for industry trends to turn around in this name first, but once that happens, this stock could be a compelling pick.
Bitcoin, Like the Internet Itself, Could Change EverythingBlockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTo read this article on Zacks.com click here.Zacks Investment Research || Can Blockchain Run a Financial Market? This Company Thinks So: In 1792, about 24 stockbrokers and merchants gathered in lower Manhattan under a buttonwood tree to sign an agreement that would allow them to trade with each other at a set commission. This became known as the Buttonwood Agreement and marked the foundation of the New York Stock Exchange (NYSE). Fast forward over 200 years — markets like the NYSE and Nasdaq are dominated by innovative companies such as Amazon ( NASDAQ: AMZN ) and Apple ( NASDAQ: AAPL ). But the exchanges themselves have undergone few transformations. Financial markets today are still built around the idea of a paper stock certificate. Clearing, settlement and custodians require expensive, complicated back-office processes that take 2 full days. Much of the work is manual and at high risk for errors and inefficiencies. How Blockchain can Improve Financial Markets Since Bitcoin’s (BTC) inception, blockchain’s potential for improving the way organizations store and manage data has been celebrated. In recent years, cryptocurrencies have gained traction among investors while larger organizations are beginning to implement blockchain technology for recordkeeping and other services. As a digital record, blockchain safely stores information while eliminating the possibility of alterations or hacks. Many are decentralized and oftentimes have the added bonus of automation. The founders of Prometheum identified how blockchain could close gaps and mitigate inefficiencies within modern financial markets and even improve regulation surrounding digital tokens. Combining over 50 years of securities law experience, 20+ years of blockchain and distributed architecture experience, and 20+ years of market systems design experience, Prometheum was built as a bridge for traditional Wall Street and the digital asset universe. How Prometheum Works Prometheum is the world’s first SEC and FINRA-regulated, full-service financial market and trading platform built on blockchain technology. Its blockchain system intends to remove the need for manual processes — with settlement, clearing and custody processes operating at next-generation efficiency. Story continues Prometheum is designed for issuers, retail investors and financial professionals alike. It offers tech companies and blockchain firms looking to raise capital as an alternative to traditional (initial coin offerings) ICOs, venture capitalists (VCs), and initial public offerings (IPOs). Many startups are already capitalizing on digital tokens as a means to raise capital. Yet, these cryptos aren’t compliantly registered and no fully compliant markets exist to support their trading. Prometheum bridges this gap. Its infrastructure makes it possible for digital assets to be issued, traded and processed compliantly under the Federal Securities Laws (FSL). Prometheum also makes it possible for traditional securities, such as equity and debt, to trade on distributed ledger technology (DLT) — replacing outdated financial market architecture with blockchain technology. This innovative financial ecosystem ensures every investor is fully protected through issuer accountability, higher transparency and greater market integrity. The Next-Generation Financial Ecosystem Blockchain holds the promise to revolutionize highly regulated industries and the way organizations tackle recordkeeping. It’s about time this change made its way to financial markets. By providing a platform for companies to raise capital through tokens in a fully regulated environment, Prometheum is closing the gap between retail investors and equity markets. It also proves a safer, more efficient, automated solution for manual clearing, settlement and custodians processes. All this takes place within a user-friendly platform where both accredited and nonaccredited investors can trade digital assets — complete with AML/KYC, risk management, and market surveillance systems. The unparalleled protection for investors ensures a fair and orderly market like no other. Prometheum also maintains its own FIX engine, allowing traditional brokers to tie into the Prometheum ecosystem and offer clients the opportunity to trade digital assets through their existing brokerage account. Since its inception in May 2017, Prometheum has raised $27 million and is currently awaiting approval to become the first public ATS for digital assets in the United States. Learn more about Prometheum here . See more from Benzinga Click here for options trades from Benzinga Want to Host Live Movie Watch Parties Easily (and Profitably)? This Company Has You Covered © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Sphere 3D Corp. Announces Merger Agreement with Gryphon Digital Mining, Inc.: Transaction to Create a Nasdaq-listed 100% Renewable Energy, ESG-committed Crypto Miner Toronto, Ontario--(Newsfile Corp. - June 3, 2021) - Sphere 3D Corp. (NASDAQ: ANY) (the "Company" or "Sphere 3D"), a company delivering containerization, virtualization and data management solutions announces that it has entered into an Agreement and Plan of Merger with Gryphon Digital Mining, Inc. ("Gryphon"), a privately-held company focused on the mining of bitcoin using renewable energy. Upon completion of the merger, the Company will change its name to Gryphon Digital Mining, Inc. "Gryphon's future focus on mining using 100% renewable energy will set the bar for mining companies of the future. We have been engineering GPU-based converged systems for many years and are excited to leverage our experience to enhance the performance of Gryphon's operations. We believe the merger of the two companies provides an excellent opportunity to create meaningful value for our shareholders," said Peter Tassiopoulos, Sphere 3D's Chief Executive Officer. About the Proposed Merger Transaction As consideration for the merger transaction, Sphere 3D will issue 111,000,000 common shares to the shareholders of Gryphon, subject to adjustment, such that on closing, the Sphere 3D shareholders will own approximately 23% of the Company and Gryphon shareholders will own the remaining 77% on a fully diluted basis. The merger is expected to close in the third quarter of 2021, subject to the approval of the stockholders of each company, as well as other closing conditions, including the registration statement for the merger shares to be issued being declared effective by the Securities and Exchange Commission, and the Company's pending merger listing being approved by the Nasdaq, SEC and other applicatory regulatory bodies. Upon a successful closing of the merger, and all regulatory approvals, the Company will continue to trade on the NASDAQ. The transaction has been approved by the board of directors of both companies. PGP Capital Advisors, LLC acted as financial advisor and has provided a Fairness Opinion in support of the transaction to the board of directors of Sphere 3D. The closing of the merger agreement is subject to customary closing conditions for a transaction of this nature and may be terminated by the parties under certain circumstances. Management and Organization Following the merger, Rob Chang, Chief Executive Officer of Gryphon will be appointed to serve as the post-merger combined company's chief executive officer. Several members of the Gryphon leadership team will take key roles in the new Company. Story continues The board of directors for the post-merger combined company will be comprised of seven directors, including two members from Sphere 3D's current board of directors. Gryphon Executive Team and Board includes: CEO and Director Rob Chang - Former CFO of Riot Blockchain & former MD at Cantor Fitzgerald President Dan Tolhurst - Former senior strategist at Netflix & Disney Chair of the Board Brittany Kaiser - Blockchain regulatory expert & Congressional Subcommittee member Independent Director Richard Cooperstein - Partner at Media Investment Group & former Head of International Business Development at Facebook Independent Director Joseph Nejman - Entrepreneur in Residence at Tomorrow Ventures & former Strategic Partner Development at Google About Sphere 3D Corp. Sphere 3D Corp. (NASDAQ: ANY) has a portfolio of brands, including HVE ConneXions, UCX ConneXions and SnapServer®, dedicated to helping customers achieve their IT goals. For more information on Sphere 3D, please visit www.sphere3d.com . About Gryphon Digital Mining, Inc. Gryphon Digital Mining, Inc. is a private company in the cryptocurrency space dedicated to helping bring digital assets onto the clean energy grid. Its Bitcoin mining operation has a zero-carbon footprint and the company's long-term strategy is to be the first vertically integrated crypto miner with a wholly owned, 100 percent renewable energy supply. Important Additional Information Will be Filed with the SEC In connection with the proposed transaction between Sphere 3D and Gryphon, the parties intend to file relevant materials with the SEC, including a Sphere 3D registration statement on Form F-4 that will contain a combined proxy statement/ prospectus/ information statement. INVESTORS AND STOCKHOLDERS OF SPHERE 3D AND GRYPHON ARE URGED TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT SPHERE 3D, GRYPHON, THE PROPOSED MERGER AND RELATED MATTERS. Investors and shareholders will be able to obtain free copies of the proxy statement/prospectus/information statement and other documents filed by Sphere 3D with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Investors and stockholders are urged to read the proxy statement/prospectus/information statement and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction. No Offer or Solicitation This communication shall not constitute an offer to sell, the solicitation of an offer to sell or an offer to buy or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Participants in the Solicitation Sphere 3D, and its directors and executive officers, and Gryphon, and its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the stockholders of Sphere 3D in connection with the proposed merger. Information regarding the special interests of these directors and executive officers in the proposed merger will be included in the proxy statement/prospectus/information statement referred to above. Additional information about Sphere 3D' directors and executive officers will be included in Sphere 3D' definitive proxy statement to be filed with the SEC. These documents are available free of charge at the SEC website ( www.sec.gov ). Forward-Looking Statements Any statements in this press release that are not statements of historical fact constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding the proposed merger and other contemplated transactions (including statements relating to satisfaction of the conditions to and consummation of the proposed merger), and statements regarding the nature, potential approval and commercial success of Gryphon and its product line, risks related to Gryphon's ability to correctly estimate and manage its operating expenses and its expenses associated with the proposed merger pending closing; the ability of Gryphon to report accurate audited financials, the effects of having shares of capital stock traded on the Nasdaq Capital Market, Gryphon's management team's ability to execute the post-merger operations, Gryphon's and the post-merger combined company's financial resources and cash expenditures. Forward-looking statements are usually identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "ideal," "may," "potential," "will," "could" and similar expressions. Actual results may differ materially from those indicated by forward-looking statements as a result of various important factors and risks. These factors, risks and uncertainties include, but are not limited to: risks relating to the completion of the merger, including the need for stockholder approval and the satisfaction of closing conditions; risks related to Sphere 3D' ability to correctly estimate and manage its operating expenses and its expenses associated with the proposed merger pending closing; the cash balances of the combined company following the closing of the merger; the ability of Sphere 3D to remain listed on the Nasdaq Capital Market; the risk that as a result of adjustments to the exchange ratio, Sphere 3D shareholders or Gryphon stockholders could own more or less of the combined company than is currently anticipated. In addition, the forward-looking statements included in this press release represent Sphere 3D and Gryphon's views as of the date hereof. Sphere 3D and Gryphon anticipate that subsequent events and developments will cause their respective views to change. However, while Sphere 3D and Gryphon may elect to update these forward-looking statements at some point in the future, Sphere 3D and Gryphon specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Sphere 3D' or Gryphon's views as of any date subsequent to the date hereof. Investor Contact Kurt Kalbfleisch +1-858-495-4211 [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86358 View comments || Bitcoin wobbles after Chinese social media site Weibo blocks crypto influencers: Bitcoin and other major cryptocurrencies continued to fall on Sunday after reports Chinese social media site Weibo suspended "key opinion leaders" (KOL), reigniting fears of further crack down in the country.
The flagship crypto, bitcoin (BTC-USD) fell more than 4% to $36,194 (£25,559) and declined as much as $35,453 on Sunday. It has since pared back some losses, trading up less than 0.4% to $36,260.
Ethereum (ETH-USD) — the world's second largest crypto by market cap — was down 4% to $2,716 and has bounced back since, up 4%, while meme token dogecoin (DOGE) crashed as much as 6% to $.0.37.
Weibo (WB), blocked some crypto influencer accounts on Saturday,Coindeskreported, citing violation of unspecified laws and Weibo community rules. However, accounts not involved in ads of exchanges have not been blocked, according to Chinese crypto journalistColin Wu.
The fall comes despite positive news from El Salvador and Square (SQ), which failed to eliminate investor concerns over a Chinese regulatory risks.
Nayib Bukele, the president of El Salvador, said on Saturday that he will make bitcoin legal tender in the country, to make it easier for Salvadorans living overseas to send payments home.
The president tweeted the move, if passed, would open up financial services to the 70% of Salvadorans who do not have bank accounts.
Bukele added he will send the proposed legislation to congress, and if backed it would make the Central American nation, the first in the world to formally adopt the digital currency.
The environmental impact of cryptos has been a source of much concern lately and North American bitcoin miners are working to bring transparency to their energy consumption, through the Bitcoin Mining Council.
US financial services firm, Square announced on Saturday it will invest $5m to build a solar-powered Bitcoin mining facility at a Blockstream Mining site in America through a partnership with the blockchain technology provider.
Tesla (TSLA) boss Elon Musk also sparked a sell-off after saying the electric carmaker wasabandoning plans to accept bitcoin as paymentdue toenvironmental concerns.
Over the weekend, a video was posted on YouTube, reportedly made by hacking group Anonymous, accusing Musk of having liquidated dreams and "destroyed lives" with his tweets about cryptocurrencies, which has led to price drops.
Read more:How bad is bitcoin for the environment?
While bitcoin has no direct link to the real economy, its large fluctuation in value over the last few years has prompted government to consider regulating the virtual asset and central banks to look at ways to incorporate digital currencies.
In April, theBank of England and the UK Treasurysaid they were exploring a potential national digital currency, amid a groundswell of interest in digital markets.
Dubbed "Britcoin" by the press, the BoE said any UK digital currency would be a new form of digital money that could be used by both households and businesses. It would exist alongside cash and bank deposits, rather than replacing them. Both the BoE and Treasury stressed they were simply exploring the idea and are not committed to launching "Britcoin."
Read more:Elon Musk's break-up memes cut short Bitcoin's price revival
Blockchain-based tokens also suffered several price dives recently in response to crackdown threats in several countries.
Last month, Chinese vice-premier Liu Hu said China would "severely crack down on illegal securities activities and severely punish illegal financial activities."
Hong Kong said cryptocurrency exchangeswill have to be licensed by its markets regulator. Under the new rules, which were announced after months of discussions, only professional investors with a portfolio upwards of $1m will be able to use the platforms.
Meanwhile,Iran announced it was banning the energy-consuming mining of cryptocurrenciesafter some of its cities experienced blackouts. This was possibly due to a drought that had affected hydro-electric power generation but cryptocurrency was draining more than 2GW from its grid each day, the country said.
Before that,Turkey's central banksaid in April would ban cryptocurrencies for payments. The ban, which came into effect at the end of April, prohibits the use of cryptocurrencies and other crypto assets based on distributed ledger technology would be prohibited as a payment, whether directly or indirectly.
The global crypto market lost 4.28% over the last 24-hours, according to data providerCoinMarketCap.
Watch:What is bitcoin?
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
3 Top Biotech Stocks to Buy in July: Biotechnology stocks can pop or drop because of clinical trial successes or failures, and that makes investing in biotech stocks riskier than investing in other industries. Nevertheless, the rewards for those biotech companies that successfully innovate new therapies can be significant, and that makes stocks likeRegenxbio(NASDAQ: RGNX),Regeneron Pharmaceuticals(NASDAQ: REGN), andAbbVie(NYSE: ABBV)worth considering. Read on to learn more about these companies and why some of our Motley Fools think they could be top stocks to add to portfolios this month.
Todd Campbell(Regenxbio):If you're willing to take on some risk in your growth portfolio, then you might want to consider Regenxbio, a clinical-stage biotech working on a novel approach that could make gene therapy safer and more effective.
IMAGE SOURCE: GETTY IMAGES.
Many diseases are the result of genes working incorrectly, so researchers are developing therapies that tinker with genes to correct their function.
Delivering gene therapies to their proper place requires the use of inactivated viruses; however, these viral vectors can be tough to manufacture, and there's concern that they won't produce durable responses. There's also worry they'll cause immune system responses that lead to adverse events.
To overcome those concerns, Regenxbio has developed its NAV technology, a platform consisting of over 100 adeno-associated viral vectors it believes can deliver gene therapy payloads better than other viral vectors.
The company is using its NAV technology platform to develop its own gene therapies, and it's licensing its vectors to other companies in exchange for upfront payments, milestones, and hopefully, royalties.
The most advanced gene therapy in development that's using Regenxbio's technology is AVXS-101, a one-and-done gene therapy for spinal muscular atrophy (SMA), a devastating disease. Earlier this year,Novartisspent $8.7 billionacquiring AveXis to land AVXS-101, and depending on data, Novartis plans to file for FDA approval of AVXS-101 before the end of 2018.
If AVXS-101 is successful, it could move the needle for Regenxbio, but investors will also want to be on the look out later this year for top-line data from trials of Regenxbio's RGX-314, a gene therapy for wet-AMD, and RGX-501, a gene therapy for an inherited form of high cholesterol called homozygous familial hypercholesterolemia (HoFH). Wet-AMD and HoFH are blockbuster indications that these gene therapies could significantly reshape.
Make no mistake, though. This is a high-risk stock. Its revenue consists solely of partnership payments right now, it doesn't have any commercially approved therapies on the market, and there's a chance its studies fail. For this reason, Regenxbio is only suitable for aggressive investors who can withstand disappointment.
Brian Feroldi(Regeneron Pharmaceuticals):Once upon a time, Regeneron Pharmaceuticals was ared-hot growth stockthat could do no wrong. Unfortunately,a series of eventshave since caused the tides to turn. This former market-darling has badly underperformed theS&P 500over the last three years as investors have been forced to make downward adjustments to their growth expectations.
SPYdata byYCharts.
While the last few years have been quite trying for investors, I think there are finally reasons to believe that the company's future is starting to look bright. Eylea remains a megablockbuster drug that is stillposting strong sales growth. Sales of cholesterol-busting drug Praluent might finally be poised to show meaningful sales growth now that Regernson has proven more willing to negotiate with payers on price. At the same time, eczema drug Dupixent is off to a decent start and could get a major boost if it wins FDA approval as a treatment for asthma.
When adding in the fact that Regeneron boasts 17 programs in late-stage clinical development -- some of whichhold blockbuster potential-- market watchers expect the company's profits will grow in excess of 11% annually over the next five years. While that's a far slower rate than what the company has put up in the past, it's still quite good for a company that is currently trading for less than 17 times next year's earnings estimates.
IMAGE SOURCE: GETTY IMAGES.
Keith Speights(AbbVie):There are few stocks on the market that can appeal to every kind of investor, but I think one big biotech stock just might: AbbVie.
Let's start with why income investors should like the stock. Most biotechs don't pay dividends, but AbbVie does. Its dividend currently yields more than 4%. And AbbVie has boosted its dividend payout by a whopping 140% over the last five years.
What about value investors? AbbVie stock trades at only 10.4 times expected earnings. That's dirt-cheap for a company withthe world's best-selling drugand a stable of other strong performers.
Of course, most biotech investors are looking for growth. AbbVie checks the box there, too. Analysts project that AbbVie will grow its annual earnings by nearly 17% on average over the next five years. The company has one of the fastest-growing cancer drugs with Imbruvica. It launched a new hepatitis C drug, Mayvyret, last year that's well on its way to blockbuster status.
Then there's AbbVie's pipeline. Market research firm EvaluatePharma ranked it asthe second-best pipeline in the biopharmaceutical industry. AbbVie could have several big winners on the way, including endometriosis drug elagolix and autoimmune disease drugs risankizumab and upadacitinib.
Great dividends, attractive valuation, and strong growth prospects. What's not to like about AbbVie?
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Brian Feroldihas no position in any of the stocks mentioned.Keith Speightsowns shares of AbbVie.Todd Campbellhas no position in any of the stocks mentioned. His clients may have positions in the companies mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Opinion: Science’s Acute Replicability Issue and the Crypto Antidote: It may come as a shock to some, but scientific pronouncements aren’t nearly as trustworthy as they seem. Consider the tale of saturated fat. Until about the middle of the 20th century, the Western world was largely unconcerned about the effects of saturated fat on health. Fatty fish, butter, and eggs were seen as components of a healthy diet. However, studies funded by the vegetable oil lobby in the US started declaring saturated fat as a killer; the root of most heart disease. This idea persisted for another 50 years and persists in some places to this day, despite the fact that the vast majority of medical researchers now believe the whole theory was worthless and in fact saturated fat has been proven good for your health. There were 2 causes for this failure of science. First of all, the initial research projects were funded by a lobby group with a vested interest in portraying saturated fat as unhealthy. But secondly, there was a lot of genuine mistakes and error-strewn conclusions drawn by honest researchers. This was in part because of the lack of efforts to replicate study findings to make them more robust. Put simply, the scientific ideas weren’t tested rigorously or openly enough. And what is exciting right now is that crypto technology is playing a part in making sure this doesn’t happen again. And that’s about time, since it is becoming more and more clear that this problem is decaying the very foundations of what we thought we knew to be true . Back to scientific basics It has long been known how observational anomalies can happen in science and important it is to test and retest any findings. This goes to the core of the philosophy of science, as explained by two of the great scientific philosophers, Karl Popper and Ronald Fisher: “Only when certain events recur in accordance with rules or regularities, as in the case of repeatable experiments, can our observations be tested—in principle—by anyone.… Only by such repetition can we convince ourselves that we are not dealing with a mere isolated ‘coincidence,’ but with events which, on account of their regularity and reproducibility, are in principle inter-subjectively testable.” Story continues “Non-reproducible single occurrences are of no significance to science.” Karl Popper (1959) “The logic of scientific discovery” “We may say that a phenomenon is experimentally demonstrable when we know how to conduct an experiment which will rarely fail to give us statistically significant results.” Ronald Fisher (1935) “The Design of Experiments” Thus, that which is not reproducible is not useful in scientific advancement. And as we saw with the saturated fat example, scientists often have a reason to generalise from a narrow observation and create flimsy new laws of science. The answer to this problem is obviously clear; the more replication of an experiment the more trustworthy any findings become. Enter cryptographically-backed platforms The advances of crypto technology enable decentralised verification of information on a massive scale in an efficient way. This is ideally suited to researchers declaring their premises, data samples, and analysis available for replication and double checking. Now researchers that are collaborating with others or investigating results of other researchers can easily parse the data that went through the whole process. More importantly, the immutable nature of ledger technology ensures that researchers do not move the goalposts to suit their results. The more interesting aspects of this challenge are being tackled by a specific crypto paradigm that uses Directed Acyclic Graphs (DAGs) which are like blockchains but more amenable to large and complex datasets. Companies like CyberVein are making it possible to efficiently record large datasets on a ledger easily. And with minimal fees. The way CyberVein have designed their platform to allow this is by using DAGs (which work like blockchains but don’t require all nodes to carry and confirm a full copy of the entire transaction history as happens with the Bitcoin blockchain) and also a different consensus model known as Proof-of-Contribution (PoC, which is more efficient than the more common Proof-of-Work or Proof-of-Stake mechanisms). As explained by their spokesman: “On CyberVein, nodes are only required to store data shards relevant to their own transaction history and the smart contracts they are parties of. With this approach CyberVein is able to store entire databases as smart contracts which are permissioned to their owners and participants, without congesting the rest of the ledger.” In practice, this means that users of CyberVein will be able to record experimental data directly onto their DAG database. This can then be used again towards other research works (making citation easier, or even actual reuse of the data for different analysis) and also for easier peer review in which the reviewers have decentralised access to the relevant data. With these leaps forward in collective computing, new solutions are being found every day. Science has a replicability crisis at the moment, but it looks like another branch of science could be coming to the rescue. Featured image from Shutterstock. The post Opinion: Science’s Acute Replicability Issue and the Crypto Antidote appeared first on CCN . || Despite a Buick Slump, General Motors Is Still Cruising in China: General Motors(NYSE: GM)said that its sales in China rose 0.7% in the second quarter, as a surprising slump in Buick sales nearly offset good growth at its Chevrolet and Cadillac brands.
Year to date through June, GM's sales in China grew 4.4% versus the first half of 2017.
GM created the Baojun 510 SUV to compete with low-cost Chinese automakers -- and it's doing very well. Image source: General Motors.
Here's a look at how General Motors' brands fared at retail in China in the second quarter and first half of 2018.
[{"Brand": "Baojun", "Q2 2018": "198,986", "Change vs. Q2 2017": "6%", "H1 2018": "443,067", "Change vs. H1 2017": "13.2%"}, {"Brand": "Buick", "Q2 2018": "230,454", "Change vs. Q2 2017": "(16.2%)", "H1 2018": "501,975", "Change vs. H1 2017": "(4.4%)"}, {"Brand": "Chevrolet", "Q2 2018": "131,895", "Change vs. Q2 2017": "22.3%", "H1 2018": "262,262", "Change vs. H1 2017": "28.2%"}, {"Brand": "Cadillac", "Q2 2018": "48,712", "Change vs. Q2 2017": "19%", "H1 2018": "103,791", "Change vs. H1 2017": "29.2%"}, {"Brand": "Wuling", "Q2 2018": "248,297", "Change vs. Q2 2017": "3.1%", "H1 2018": "533,301", "Change vs. H1 2017": "(5.5%)"}, {"Brand": "TOTAL", "Q2 2018": "858,344", "Change vs. Q2 2017": "0.7%", "H1 2018": "1,844,396", "Change vs. H1 2017": "4.4%"}]
Data source: General Motors.
The big surprise in GM's report is the 16% decline in Buick sales. The slump is surprising because Buick has long been GM's China powerhouse, a perennial best-seller that Chinese folks associate with key moments in the country's history.
GM didn't offer much of an explanation as to why Buick sales were down from a year ago. It said that the brand's GL8, anupscale China-only Buick minivan, continued to sell well. It also noted that it just launched an all-new version of the "classic Excelle," a lower-priced compact sedan that has historically been Buick's volume leader in China; that could help give the brand's sales a boost in the second half.
A new "classic" version of the Buick Excelle could help boost the brand's sales in the second half of 2018. Image source: General Motors.
Buick's recent slump is the exception to what has been a good stretch of growth for most of GM's other brands in China. Sales at Baojun, a low-cost brand created to compete directly with domestic Chinese automakers, grew 6% on continued very strong sales of the 510 SUV and of the 310 family, a compact sedan and awagon introduced earlier this year.
Chevrolet continued to do well in China on the strength of its sedans -- and increasing demand for its Equinox crossover. Sales of what GM calls the "Malibu family," which includes a version of the current U.S. model as well as a lower-priced variant adapted from the last-generation car, grew 29% in the second quarter.
At the other end of the market, Cadillac continues to be a nice story for GM in China. Sales of the XTS sedan, which has been a hit in China for a few years now, rose 14% to over 17,000 units in the second quarter -- roughly matching the model's U.S. sales over the same period. Also performing well in China: the midsize XT5 crossover SUV, and the big -- and expensive -- CT6 luxury sedan.
GM's ongoing success in China stands in sharp contrast to the struggles of old Detroit rivalFord Motor Company(NYSE: F). Ford's sales fell 25% in the first half of 2018, as the Blue Oval struggled with a lack of interest in what Chinese buyers see as an out-of-date product line.
China's auto market is the fastest-moving in the world, but GM long ago mastered the art of keeping Chinese buyers interested with a steady stream of new and revamped vehicles. The Excelle is the most recent new model, but there are more coming soon: GM plans to introduce 10 new or refreshed models to China by the end of the year, including several new entries in hot SUV and luxury segments.
While a trade war between the U.S. and China could turn this story in a very different direction, GM seems to be doing what it needs to do to remain a major player -- and generate solid profits -- in China's huge new-car market.
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John Rosevearowns shares of Ford and General Motors. The Motley Fool recommends Ford. The Motley Fool has adisclosure policy. || Regulators Give Wells Fargo a $25 Billion Win: The Federal Reserve isn't pleased with Wells Fargo 's (NYSE: WFC) scandals, but it isn't opposed to the bank paying out billions of dollars to its shareholders. Yesterday, the Fed said it had no objection to Wells Fargo's capital plan, which calls for increasing its quarterly dividends to $0.43 per share, up from $0.39, and buying back up to $24.5 billion of stock over the next four quarters. Approval for big payouts also suggests to me that Wells Fargo is on the way out of regulatory troubles for its fake account scandals and historical sales practices, and it could soon be given the green light to grow once again. Beefy buybacks To be sure, a 10% increase in Wells Fargo's quarterly dividend is nothing to sneeze at, but the $24.5 billion boost to its buyback capacity is the real prize. It's the largest buyback plan of any of the big four U.S. banks. Wells Fargo was valued at about $261 billion at market close yesterday, which suggests the company could repurchase more than 9% of its outstanding shares, assuming it bought back stock at recent market prices. In some ways, past regulatory action laid the groundwork for Wells Fargo to get approval for a massive buyback program. In February, the San Francisco-based bank entered into a consent order agreement with the Federal Reserve, agreeing to hold its size to roughly $2.0 trillion in assets until the chief banking regulator is satisfied with its progress in improving its compliance and risk-management processes and oversight. Banks need about $1 of equity capital for every $10 of deposits, so they must retain earnings to grow. Wells Fargo can't grow, so it's in a better position than perhaps any bank to send all of its earnings power right out the door in the form of dividends and buybacks. Regulatory relief coming soon? The Fed scrutinizes banks' capital plans based on quantitative and qualitative factors. For Wells Fargo, the qualitative portion was always the question mark. Given fake account scandals, billion-dollar fines , and intense regulatory scrutiny, the Fed had plenty of cover to fail the bank for qualitative reasons, assuming it wanted to. Story continues Wells Fargo branch. Image source: Wells Fargo. Initially, Wells Fargo believed it could get out from underneath its $2 trillion cap on assets as soon as October 2018. At its recent investor day, CEO Tim Sloan suggested that the cap may go on longer -- perhaps into the early months of 2019. The fact that the Federal Reserve didn't oppose Wells Fargo's capital plans suggests to me that the worst of regulatory purgatory is in the rearview mirror. From my vantage point, whether the bank gets the green light to grow in 2018, 2019, or even in 2020, isn't necessarily all that important for the investment thesis. It's my view that Wall Street had gone too far, valuing the bank as if it would never grow again. That possibility, though remote, seems far less likely today than it did even a few short days ago. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jordan Wathen has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Bitcoin Dips Below $7,000, Hits Lowest Level in Three Weeks: Cryptocurrencies prices fell on Tuesday Investing.com - Cryptocurrency prices fell on Tuesday, with Bitcoin falling below the $7,000 mark after surging more than 30% last month. Bitcoin was down 2.1% to $6,945.0 at 12:20AM ET (04:20 GMT) on the Bitifinex exchange. Ethereum slipped 1.3% to $405.8 on the Bitifinex exchange. Ripple was trading at $0.41090, down 5.7% in the last 24 hours on the Poloniex exchange, while Litecoin also fell 2.9% to $72.588. Reports that investment giant BlackRock Inc. formed a team to look into cryptocurrency and blockchain investments were cited as the major catalyst that pushed Bitcoin prices to above $8,000 in July. Meanwhile, CFA Institutes announcement that it is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year were also cited as supportive. Some analysts believed JPMorgan CEO Jamie Dimons comments over the weekend may have triggered the selling. Dimon reiterated comments he made last year, calling cryptocurrencies a "scam" and said he had "no interest" in the worlds largest digital currency. He also suggested governments may shut down the currencies, because of an inability to control them. "To say its the same thing as the U.S. dollar is virtually insane," he said on Saturday at the Aspen Institutes 25th Annual Summer Celebration Gala. In other news, Goldman Sachs (NYSE:GS) is reportedly exploring the options to to offer custody for crypto funds, according to people with knowledge of the matter, adding that no timeline has been set at the moment. In response to client interest in various digital products we are exploring how best to serve them in this space, a spokesman for Goldman Sachs said. At this point we have not reached a conclusion on the scope of our digital asset offering. The services would reduce risk for the banks clients seeking to guard against the threat of losing their investments to cyber attacks, as the firm would hold the securities on behalf of the funds. In May, Nomura Holdings created a custody consortium called Komainu. Reports also suggested that at least three other firms, including the Bank of New York Mellon (NYSE:BK) Corp., JPMorgan Chase & Co (NYSE:JPM). and Northern Trust Corp (NASDAQ:NTRS)., are also considering to offer crypto-custody services. Related Articles OST (OST) Coin Jumps 95% on Upbit Listing Swiss Bank Maerki Baumann Starts Accepting Cryptocurrency Assets Crypto Pump-and-Dump Turnover Reaches $825M in H1 2018 - Report View comments || 5 Biggest Blockbuster Diabetes Drugs of the Future: Forty-six billion dollars. That's a big number -- and it's how much was made worldwide from selling diabetes drugs in 2017.
You can count on that total growing over the next several years, as more people are being diagnosed with diabetes at alarming rates. And now, more powerful drugs are being developed. All of this makesthe diabetes market an intriguing opportunity for investors.
Market research firm EvaluatePharma recently ranked what it projects will be the top diabetes drugs of 2024.Novo Nordisk's(NYSE: NVO)products dominate the list, althoughEli Lilly(NYSE: LLY)and privately held Boehringer Ingelheim placed highly, as well. Here are the top five biggest blockbuster diabetes drugs of the future, according to EvaluatePharma.
Image source: Getty Images.
Eli Lilly's Trulicity is projected to be the No. 1 top-selling diabetes drug in the world by 2024. EvaluatePharma thinks the drug will rake in annual sales of $4.6 billion and claim a market share of 7.8%.
Trulicity is a glucagon-like peptide 1 (GLP-1) receptor agonist that helps the body release insulin more effectively. The drug won Food and Drug Administration (FDA) approval in 2014 for treating type 2 diabetes. Sales for Trulicity totaled more than $2 billion last year, with a global market share of 4.4%.
Lilly will need to watch out: Novo Nordisk will be breathing down its neck with its own GLP-1 receptor agonist, Ozempic. EvaluatePharma expects Ozempic will make $4.4 billion in sales in 2024, giving Novo's drug a 7.4% market share.
Ozempic also ranked second on another EvaluatePharma list -- thebiggest new drug launches of 2018. Novo Nordisk won FDA approval of the drug in treating type 2 diabetes in December 2017, but the full launch of Ozempic began this year. The drug got off to a decent start in Q1, with Novo reporting sales for Ozempic of 69 million Danish krone ($11 million as of May 7, 2018).
Boehringer Ingelheim and Lilly co-market Jardiance, which is projected to be the No. 3 best-selling diabetes drug in the world in 2024. The drug is expected to generate sales that year of $3.5 billion and capture 5.9% of the worldwide diabetes drug market.
Jardiance is the most successful of several sodium glucose co-transport (SGLT) 2 inhibitors. It won FDA approval in 2014 for treating type 2 diabetes and secured another approval in 2016 for reducing cardiovascular death in adults with type 2 diabetes. The drug made a little over $1.1 billion last year, with Lilly's portion of sales totaling close to $448 million.
Novo Nordisk's second product in the top five is insulin analog Tresiba. EvaluatePharma thinks that Tresiba will generate revenue of nearly $3.4 billion in 2024, with a market share of 5.7%.
Tresiba first won FDA approval in 2015 for use by adults with diabetes and gained an additional approval the following year for treatment of children and adolescents with diabetes. Novo Nordisk notched sales of $1.1 billion for the insulin product in 2017 and claimed a market share of 2.4%.
Only one of the top five best-selling diabetes drugs of the future is expected to experience a decrease in sales. Novo Nordisk's insulin analog NovoRapid likely will see its market share slip from 6.6% in 2017 to 4.3% in 2024. However, the product should still bring in more than $2.5 billion.
After years on the market, key patents for NovoRapid expired in 2014. Novo Nordisk recorded sales of around $3 billion for the product last year. While sales will slip, the decline will be a relatively mild and gradual one.
With these diabetes drugs on track to rack up billions of dollars in sales in the coming years, are Lilly and Novo Nordisk great stocks to buy right now? Maybe.
If you're looking for income, either of these stocks will probably look pretty good. Lilly's dividend yield stands at 2.6%, while Novo's yield is nearly 2.9%.
The growth scenario is murkier. Both companies have promising new drugs and pipelines, but both also are weighed down by headwinds for older drugs. My view is that Novo Nordisk could be in better shape over the long run, especially if clinical studies for an oral version of Ozempic are successful.
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Keith Speightshas no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk. The Motley Fool has adisclosure policy. || Venezuelan Crypto Enthusiast Buys 102 Kilos of Food from NANO Donations amid Hyperinflation: A Venezuelan crypto enthusiast has recently bought over 100 kg of food for his family and community thanks to the cryptocurrency community, after he received dozens of NANO donations from Reddit users.
According to athread startedlittle over a week ago, Reddit user Windows7733 revealed a 0.5 NANO (~$1.32) donation he received was nearly worth one month’s salary in Venezuela. In response to the thread, various Redditors stated sending over donations to further help him out.
User Windows7733 recently startedanother threadupdating the community on the results, and revealed he was able to acquire 102 kg of food using 29.1 NANO, at press time worth $77.7, thanks to the NANO community.
The thread reads:
“I feel extremely happy because today I was able to convince someone who I trust to accept NANO (he was already accepting bitcoin cash) in exchange for food. He sold me 102 kilograms (224 lb) of food, including cornmeal, meat, rice, sugar, beans, sauces and avocados. I’m still waiting to see if I will be able to buy powdered milk and cooking oil from this same guy.”
Commenting on Windows7733’s posts, other Venezuelan Reddit users revealed that the country’s situation makes it hard form them to use cryptocurrencies other than bitcoin, as it’s hard to find someone willing to buy NANO there.
Various cryptocurrency-based charities have been helping people in countries like Venezuela survive by providing enough funds for basic resources like food. A prominent organization supporting those in Venezuela,eatBCH, sees donors use Bitcoin Cash (BCH) to buy supplies.
As CCN covered, cryptocurrencies like Bitcoin have been helpingVenezuelans survive government failures. The country’s hyperinflation index has recently reached the one million mark, which according toBloombergmeans one cup of coffee now costs 1 million bolivars in the country – up from 450 two years ago.
Meanwhile, the Venezuelan government has been focusing on its oil-backed cryptocurrency, the Petro. As covered, according to the country’s president Nicolas Maduro the cryptocurrency’spre-sale raked in $5 billion.
The money, according to century-old think tank Brookings, is likely not going to be used to help the Venezuelan people, as it was a way for the government to bypass international sanctions and obtain foreign capital. The Petro, per the think tank,undermines legitimate cryptocurrencies.
It was recently revealed that Venezuela’s government is planning tofinance villas for the homelessusing the oil-backed cryptocurrency. Back in April, the executive secretary of the country’s Blockchain Observatory, Daniel Peña, touted the Petro’s impact would be felt “within three to six months.”
Venezuela supermarket image from Shutterstock.
The postVenezuelan Crypto Enthusiast Buys 102 Kilos of Food from NANO Donations amid Hyperinflationappeared first onCCN. || Fixed-Income ETF Strategies for Rising Interest Rates: This article was originally published on ETFTrends.com. Fixed-income ETF investors should look into the opportunities in the short-end of the yield curve to generate income while mitigating duration risk and consider ways to blend active and passive exposures to position portfolios in today’s bond market. On the recent webcast (available On Demand for CE Credit), Fixed Income As Rates Rise , Matthew Bartolini, Head of SPDR Americas Research for State Street Global Advisors, warned that fixed-income investors will have to adapt to rising short-term rates and a flattening yield curve as the Federal Reserve tightens its monetary policy. After the Fed hiked rates, yields on U.S. 2-year notes have increased to 2.57% in late May from 1.16% back at the end of 2016. Looking ahead, if the Fed raises rates two more times to an upper bound of 2.50%, yields on 2-year notes are expected to rise to around 3.41%. Consequently, Bartolini argued that fixed-income investors should become more selective on bond types, term and structure to better adapt to monetary tightening. Specifically, he pointed out that widely observed benchmarks like the Bloomberg Barclays U.S. Aggregate Bond Index and Bloomberg Barclays U.S. Corporate Bond index both exhibit high duration or rate risk, which has contributed to increased drawdowns in a rising interest rate environment. Alternatively, investors may shift down the yield curve and look to investments in short-term debt or other fixed-income strategies to limit duration or rate risk. For example, Bartolini pointed to the Bloomberg Barclays U.S. Floating Rate Notes and S&P/ISTA U.S. Leveraged Loans 100 Total Return Index as attractive options that produce yields with close to zero duration risk. Furthermore, Bartolini showed that senior loans may also be an attractive alternative to high-yield bonds as a income-generating strategy due to its lower correlation to other asset classes, which further helps the senior loans limit potential downside risks. For instance, senior loans showed a 0.43 correlation with the S&P 500, compared to high yield bonds' 0.57 correlation to the S&P 500. Story continues Rob Glownia, Fixed Income Portfolio Manager at Riverfront Investment Group, helped explain that investors could also access income ideas through non-traditional allocations toward categories in high-yield and bank loans, among others. These alternative strategies are especially noteworthy when Riverfront tries to adjust duration/yield curve positions by shortening the duration or adjust a portfolio's yield curve positioning as economic, market and monetary conditions warrant. Looking ahead, Glownia outlined Riverfront's current udernweight allocation to U.S. fixed-income, with a preference for credit over duration risk, or investment-grade corporate debt. The firm believes strong corporate earnings and balance sheets, the ability of companies to refinance at historically low rates, and income advantage relative to U.S. government debt are all attractive attributes. Beyond corporates, Glownia believes investors may find opportunity in short-duration high yield and levered loans due to the asset categories' income advantage and low credit risk in a strengthening economy. "With the Fed on track to continue gradual rate hikes, the yield curve may continue to flatten as short term rates rise in response. Consider shortening duration to mitigate price volatility without sacrificing yield potential. Floating rate structures may allow investors to harness the benefits of movements on the short end of the curve," Bartolini said. For example, the SPDR Barclays Investment Grade Floating Rate ( FLRN ) can help hedge interest rate risks. The ETF follows the Bloomberg Barclays U.S. Dollar Floating Rate Note < 5 Years Index, which seeks to provide exposure to debt instruments that pay a variable coupon rate, a majority of which are based on the 3-month LIBOR, with a fixed spread. The notes’ have a so-called reset period with interest rates tied to a benchmark, such as the Fed funds, LIBOR, prime rate or U.S. Treasury bill rate. Due to their short reset periods, these floating rate funds have relatively low rate risk. Investors could also complement existing credit positions in high-yield and investment-grade credit with alternatives like bank loans that access floating rate, move up the capital structure and shortens duration exposure. For example, the actively managed SPDR Blackstone/GSO Senior Loan ETF ( SRLN ) could help investors with better exposure as a manager is more freely able to weave in and out of the fixed-income market. The SPDR Portfolio Short Term Corp Bond ETF ( SPSB ) provides exposure to the shorter end of the investment-grade corporate debt market. The fund seeks to provide investment results try to reflect the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index. Additionally, the actively managed SPDR DoubleLine Short Duration Total Return Tactical ETF (Cboe: STOT) seeks to maximize current income with a dollar- weighted average effective duration between one and three years. The fund seeks to maximize total return over a full market cycle through active sector and security selection across a broad range of fixed income securities that could include, among others, securities issued or guaranteed by the US government, foreign and domestic corporate bonds, emerging market bonds and agency and non-agency mortgage backed securities. Financial advisors who are interested in learning more about fixed-income investment strategies can watch the webcast here on demand. . POPULAR ARTICLES FROM ETFTRENDS.COM Reddit Co-Founder Alexis Ohanian on Bitcoin’s Bull Run Venezuela May Reach 1M Percent Inflation Rate, IMF Warns What Lies Ahead for Tesla and Elon Musk? Verizon Releases Better-Than-Expected Q2 Report Alphabet Keeps ‘Crushing It’, Says Jim Cramer READ MORE AT ETFTRENDS.COM > || Natural Gas Price Forecast – natural gas markets pulled back from rally: The natural gas markets initially tried to reach towards the $2.79 level above but broke down significantly from there to reach below the $2.77 level. It looks as if the market is getting a bit exhausted as I record this video, and I believe that we will continue to drift lower, perhaps reaching towards the $2.75 level, and then eventually the $2.71 level again. If we can break down below the $2.70 level, the market could unwind rather drastically, perhaps reaching down to the $2.60 level underneath. That has been the bottom of the larger consolidation area, and I think that the market participants will look at that as an excellent buying opportunity. It also makes a juicy target for sellers. Because of this, I think we will eventually go looking towards that level. In the short term though, it’s likely that we will try to reach to at least the $2.70 level, where the significant demand returns. Short-term traders will continue to sell short-term rallies as we have seen during the day, and I think it’s only a matter of time before they get their way. Even if we did break higher, for me I believe that the $2.80 level and the $2.85 level will both be far too resistive for the market over, in the short term. Expect volatility, but certainly the downside is the safer bet. NATGAS Video 27.07.18 This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast – US dollar bounces during Thursday session Price of Gold Fundamental Daily Forecast – GDP Number Over 4.1 Percent Could Crush Gold Prices Bitcoin – The Reversal Complete, Almost… Gold Price Forecast – Gold continues to follow trend line It’s Another Dollar Day with 2nd Quarter Growth in Focus Natural Gas Price Forecast – natural gas markets pulled back from rally || 7 Cryptocurrencies That Outperform Bitcoin: If you have any passing interest in bitcoin, youll know that the virtual-currency market has seen better days. The original blockchain-reward token fell worryingly below the $6,000 mark recently, setting fears about additional selloffs. That said, I believe the current juncture offers a shrewd opportunity to consider alternative cryptocurrencies to buy. Undoubtedly, much of the volatility results from weak-hands unnecessarily panicking off perceived negative news. A few weeks ago, I mentioned the curious uproar over a relatively small South Korean exchange that cybercriminals hacked. I argued then that the central issue was not the integrity of the blockchain economy, but rather, a cyber attack not unlike what happened to Equifax Inc . (NYSE: EFX ). However, jittery investors didnt want to research the nuances of the incident and therefore dumped out. Just recently, the Justice Department announced a major crackdown on dark-net criminals , seizing contraband and bitcoin. The implication, of course, was that bitcoin is nothing more than an off-the-books channel for illicit activities. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Another possible factor that sets-up a contrarian case for cryptocurrencies to buy is the World Cup. Although speculative, I find it interesting that since the tournament opener on June 14, bitcoin volume has slipped. For instance, in the 15 days from June 14 through June 28, bitcoins volume averaged a value of just under $4 billion. In the 15 days leading to the opener, bitcoin volume averaged over $4.8 billion. Also note that Japan is one of, if not the biggest , hub for bitcoin, and its team squeaked through to the elimination rounds. The ABSOLUTE Best Way to Invest in the Marijuana Boom Coincidence? Perhaps, but all these factors combined present compelling explanations for bitcoins weak sentiment. However, this bearishness isnt likely to hold indefinitely. If you love bitcoin, great. But this is an ideal time to strike on other cryptocurrencies to buy. Story continues Cryptocurrencies to Buy Instead of Bitcoin: Ethereum Several crypto insiders often state that ethereum will one day, perhaps soon, overtake bitcoin. They cite that the ethereum blockchain platform covers a broad range of practical functions that go beyond facilitating payment transactions. This is the reason why major firms like Intel Corporation (NASDAQ: INTC ) and Microsoft Corporation (NASDAQ: MSFT ) expressed interest in this blockchain. Another impetus of higher ethereum prices is the blockchain networks transition towards a proof-of-stake mining protocol. This move distinguishes ethereum from bitcoin, which utilizes a proof-of-work system. Whats the difference? Essentially, anybody that purchases the best computing devices can potentially achieve significant mining success. Under a proof-of-stake system, though, interested miners must first stake their ethereum coins in a specialized digital wallet. If miners refuse to follow consensus rules, and act maliciously towards the ethereum network, their tokens risk administrative seizure. Proof-of-stake proves that not all cryptocurrencies to buy are the same. Different networks and communities have different solutions for similar problems. As a result, if youre looking for an alternative crypto, ethereum is an easy no-brainer. Cryptocurrencies to Buy Instead of Bitcoin: Litecoin Marketed as the silver to bitcoins gold, litecoin is historically the ultimate alternative-crypto coin, or altcoin. In the blockchain economys early days, investors had only two choices: bitcoin or litecoin. And back then, people looked at litecoin with the same suspicious glance that todays litany of initial coin offerings illicit. Of course, that was the forgotten past. Now, with bitcoin priced at four-digits, and probably back up to five-digits in the near future, litecoin is what I consider one of the practical cryptocurrencies to buy. For starters, we have its lower price point. From a mathematical perspective, its easier to break down what things cost in litecoin as opposed to bitcoin. Buying lunch for a cost of 0.1 litecoin makes more sense to me than 0.00125 bitcoin. 6 Marijuana Stocks to Invest In for 1,000%+ Gains The perennial number-two also features a very practical advantage: its lightning quick . Litecoin can transact up to a maximum of 56 transactions per second, which is well ahead of bitcoins 7 transactions. Its considerably quicker than ethereum as well, which clocks in at 15 transactions per second. Cryptocurrencies to Buy Instead of Bitcoin: Bitcoin Cash When bitcoin first started to gain some public engagement, the platform was a joy to use. Not only could you buy stuff with it (provided you could find businesses accepting the reward token), you could also pay people with it. At that time, transactions were anonymous, if only for the fact relatively few knew that bitcoin existed. But as the original crypto grew in worldwide popularity and acceptance, bitcoin became a victim of its own success. Several years ago, transactions could occur in a reasonably short timeframe. Today, the network is so bogged down that some platforms offer faster transactional prioritization, for a fee. Proponents realized that something had to be changed, but in the blockchain, such change requires consensus. Long story short, those who desired a faster bitcoin that could accommodate present demand decided to produce an offshoot cryptocurrency. Utilizing a procedure known as a hard fork , bitcoin cash was born. Bitcoin cash is controversial to bitcoin-hardliners (yes, such people do exist!). But Ive transacted before with bitcoin cash, and I have to give the hard-fork team credit: it really is smoking fast! Cryptocurrencies to Buy Instead of Bitcoin: EOS For the next three cryptocurrencies to buy, Id like to dial up the speculation factor, beginning with EOS. Currently ranked fifth among all cryptocurrencies by market capitalization, EOS has been on a roll despite the broader market volatility. As it stands, EOS is worth more than the vaunted litecoin. Still, if push comes to shove, Id rather put my money into the latter alternative crypto. The reason is that litecoin has credibility, and thats not something that you can establish with merely deep pockets. Litecoin existed well before the altcoin emergence. Moreover, it features in several major cryptocurrency exchange, including the bigliest of them all, Coinbase. But that could change, and possibly soon. Crypto community boards have circulated rumors that Coinbase will list EOS on its wallet and exchange services. I cant overstate how massive that would be. A substantial impediment towards an altcoin projects growth is lack of public integration. If Coinbase picks up EOS, though, it opens the altcoin to millions of prospective buyers. 4 Developments That Will Fuel the Mega Marijuana Market Of course, the risk is that the rumors dont pan out, and you end up buying EOS at an unnecessarily higher premium. But the bull in me thinks it might be worth a calculated shot. Cryptocurrencies to Buy Instead of Bitcoin: XRP If you thought that bitcoin cash was controversial, you should see the message boards and daily infighting over XRP. Based on the ripple blockchain, XRP is colloquially known as the bankers bitcoin. Ripple founders claim that having a relationship with the banks and major institutions is favorable for the blockchain technologys mainstream acceptance. As you might imagine, several crypto advocates take a dim view on this reasoning. They view XRP as a cop-out, and ad hominem aside, they raise a strong technical perspective. Unlike the majority of cryptocurrencies to buy, XRP is based off a centralized blockchain network. This means that a centralized administrator oversees the operation of the Ripple blockchain. The critics point out that it defeats the original purpose of bitcoin and the blockchain, which is to decentralize authority. According to these folks, what Ripple the organization is doing is providing the banking establishment with a more effective way of screwing over the little guy. That might be the case, but you also cant deny that Ripples push for mainstream legitimacy has paid off dividends. Powerful financial institutions to partner with Ripple include American Express Company (NYSE: AXP ) and Banco Santander, S.A. (ADR) (NYSE: SAN ). Over the last several months, XRP steadily climbed the ranks of most valuable cryptocurrencies to buy. Currently, its ranked number three behind ethereum. Cryptocurrencies to Buy Instead of Bitcoin: DigiByte As of this of writing, just under 1,600 cryptocurrencies trade hands across various international exchanges. Moreover, this figure is sure to rise as new ICOs flood the blockchain economy. Its no stretch to assume that most of these coins are junk coins: theyre here today, and sometimes, theyre gone today as well. But if I had to pick which far-fetched altcoin could become the next big thing in crypto, Id go with little-known digibyte. In late May, I featured digibyte as one of my top 20 cryptocurrencies to buy. Heres what I had to say at the time: Although ranked 52nd among all blockchain tokens, what impressed me about the digibyte coin was its development team . Not only do they have a slick, professional website, the programmers explain their project in human terms. And what makes digibyte tick? Simply, that with their advanced blockchain platform, they can facilitate lightning-quick transactions with unprecedented security. Eventually, the team aims to replace traditional payment-processing services. Heres the kicker: at time of writing, digibyte made a strong move up eight places to 44 th most valuable cryptocurrency. Prior to my write-up, digibyte was floating around at 58 th place. The Best Shot Youll Ever Have at Making 50 TIMES Your Money This is an altcoin thats been quietly making strides in the digital markets. While speculative, Id keep a very close on it. Cryptocurrencies to Buy Instead of Bitcoin: NEO My last blockchain token on my cryptocurrencies to buy list is NEO. Like many investment options originating in China, Im not sure if I can trust it at face-value, or if I should read between the lines. Im reminded about short-seller Jim Chanos and his bearish take on Alibaba Group Holding Ltd (NYSE: BABA ). Then again, Chanos had to reverse course and cover his position, lest BABA stock sink him. Could NEO do the same for anyone who doubts it? Within the blockchain community, proponents view NEO as Chinas ethereum . Like the previously mentioned altcoin, NEO offers multiple, practical functionality, making the platform attractive to businesses. Thats a key reason why this coin could make future headlines. But another reason is geopolitics . As you know, U.S.-China relations are slipping due to President Trumps tariffs. Accusations that China was stealing American intellectual property sparked the tariffs. The Asian powerhouse isnt going to take this lying down, potentially resulting in a technological cold war. If so, NEO could benefit from a nationalistic surge. After all, Chinas home to nearly 1.4 billion people. As of this writing, Josh Enomoto is long bitcoin, ethereum, litecoin, bitcoin cash, XRP and digibyte. Legendary Investor Louis Navelliers Trading Breakthrough Discovered almost by accident, Louis Navelliers incredible trading breakthrough has delivered 148 double- and triple-digit winners over the past 5 years including a stunning 487% win in just 10 months. Learn to use this formula and you can start turning every $10,000 invested into as much as $58,700 . Click here to review Louis urgent presentation. Compare Brokers The post 7 Cryptocurrencies That Outperform Bitcoin appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
I love you DonAlt! || @btc_reddit || Jul 28, 2018 19:30:00 UTC | 8,199.90$ | 7,025.30€ | 6,258.10£ | #Bitcoin #btc pic.twitter.com/cZn3C0dzTF || @India_Bitcoin || @btc_fan || @btc_fan || Madrid, entre las 10 ciudades que más aceptan pagos en Bitcoin. https://buff.ly/2LYeeBn pic.twitter.com/tPs7t8H9eK || @btc_0 || @lifeoncoin || @satoshi_BTC
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Trend: up || Prices: 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-07-29]
BTC Price: 40008.42, BTC RSI: 70.55
Gold Price: 1831.20, Gold RSI: 60.12
Oil Price: 73.62, Oil RSI: 56.59
[Random Sample of News (last 60 days)]
Bitcoin Is Back To The Key Resistance Level At $40,000: Bitcoin Moves Higher At The Start Of The Week Bitcoin gained additional upside momentum and moved closer to the key resistance level at $40,000 after Elon Musk stated that Tesla would allow customers to use Bitcoin as payment for the companys cars after Bitcoin miners usage of clean energy increases to 50%. Musk also added that Tesla sold just about 10% of its Bitcoin holdings, which served as an additional bullish catalyst as some traders were worried that Tesla was decreasing its position in Bitcoin. The second largest cryptocurrency, Ethereum , is also moving higher. Currently, it is trying to settle above the $2,500 level. Dogecoin is mostly flat, and it looks that Bitcoins recent upside move was not bullish for all cryptocurrencies. In fact, Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, is currently trying to settle above the 20 EMA at 45.75%. A move above this level will indicate that interest in Bitcoin is rising. Technical Analysis Bitcoin managed to get back above the 20 EMA near $38,000 and is trying to settle above the key resistance level at $40,000. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If Bitcoin manages to settle above the key resistance at $40,000, it will head towards the next resistance level which is located near the 50 EMA at $42,000. A successful test of the resistance at the 50 EMA will open the way to the test of the next resistance at $44,000. In case Bitcoin gets above $44,000, it will head towards the resistance level which is located at $46,000. On the support side, the previous resistance level at the 20 EMA near $38,000 will serve as the first support level for Bitcoin. A successful test of the support at the 20 EMA will push Bitcoin towards the next support level at $37,000. If Bitcoin settles below this level, it will head towards the next support at $35,000. Story continues For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Forex Technical Analysis Strengthens Over 109.761, Weakens Under 109.634 Natural Gas Price Fundamental Daily Forecast Prices Could Tumble if TETCO Gas is Rerouted Adobe Could Hit New All-Time High on Strong Q2 Earnings; Target Price $567 Best Stocks For July 2021 Oil Price Fundamental Weekly Forecast Will Traders Start to Worry about OPEC+ Production Hike? Stocks Mixed At The Beginning Of The Week || Best Buy (BBY) Gains From Operational Efforts, Strong Demand: Best Buy Co., Inc.BBY has been gaining from consumers’ growing inclination toward technology products amid the pandemic. Such trends favored the company’s performance in the domestic channel during first-quarter fiscal 2022. Additionally, the company is gaining from surge in digital sales. It is also focusing on improving operational efficiency as well as boosting consumers’ shopping experience. Let’s delve deeper.
During the first quarter, Best Buy witnessed sales growth across the Domestic and the International segments. Management highlighted that demand for technology products and services were high in the reported quarter, thanks to the pandemic. Within the domestic business, the company witnessed growth in demand for computing, home theater and appliances. Apart from these, the company’s strong supply chain, flexible store operating model and ability to shift quickly to digital have been supporting its performance. Such upsides have been helping the company meet increased demand for products and services. Notably, strong first-quarter results as well as continued growth trends in the second quarter encouraged management to raise comparable sales growth view for fiscal 2022.Speaking of digital endeavors, the company has been gaining from focus on improving digital capabilities, including boosting omni-channel services such as buy online, pickup in store services. Management highlighted that stores played an important role in the fulfillment of online sales. During the first quarter, 60% of the online sales were picked up in stores or curbside, shipped from store or delivered by store employees. Markedly, the company’s Domestic comparable online sales increased 7.6%, driven by higher average order values and traffic.For fiscal 2022, online sales are expected to contribute in the mid-30% range to Domestic sales. The company’s strong omni-channel capabilities are likely to keep driving online revenue growth. Also, it is on track with adding new functionalities to its curbside pickup services for driving frequency, retention and personalization opportunities. Almost all its stores provide same-day delivery on thousands of products. In fact, several store locations are being strategically positioned to be able to ship out more volumes. Such well-chalked plans are likely to keep supporting the company’s online revenues. Apart from these, the company is focusing on increasing customer engagement through its app.
Image Source: Zacks Investment Research
Best Buy is focused on growth opportunities such as better execution in key areas, cost containment as well as investing in people and systems. The company is also testing new store formats. Meanwhile, the company is progressing well with programs like Total Tech Support, which provides support for fixing computers, laptops, appliances, smart home devices and connected devices as well as technical support from Geek Squad agents. Further, Best Buy expanded its In-Home Advisor program that includes advisors, who guide customers to select the right technology solution. The company’s loyalty program members have also continued to project growth.We expect the aforementioned upsides to keep supporting this Zacks Rank #2 (Buy) company’s performance in the forthcoming periods. Markedly, shares of the company have gained 43% in a year compared with the industry’s rise of 95%.
Abercrombie & FitchANF has a long-term earnings growth rate of 18%. It presently sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Boot Barn HoldingsBOOT has a trailing four-quarter earnings surprise of 51.7%, on average. The stock sports a Zacks Rank #1.L BrandsLB has a long-term earnings growth rate of 13%. It currently carries a Zacks Rank #2 (Buy).
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAbercrombie & Fitch Company (ANF) : Free Stock Analysis ReportBest Buy Co., Inc. (BBY) : Free Stock Analysis ReportBoot Barn Holdings, Inc. (BOOT) : Free Stock Analysis ReportL Brands, Inc. (LB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Crypto Fintech Eco Raises $60M for High-Yield USDC Savings App: Ecois raising another $60 million to propel its early hit stablecoin crossover as regulators turn up the pressure on the sector.
The fiat deposit-taking, cashback-granting digital wallet and stablecoin lender is not even five months removed from its$26 million pre-seed. But CEO Andy Bromberg said Eco’s user base has swelled since that March debut, and the company is ready to speed up its growth.
Eco is part of a wave of fintechs hawking bank-like services to a fiat audience – but one of the few with a crypto back-end: It generates returns on clients’ deposits by lending them out to institutions in the form of stablecoinUSDC.
Related:A16z Leads $20M Bet That Celo’s Valora Becomes a ‘Global Gateway to Crypto’
That model may come under scrutiny as world regulators probe the stablecoin sector with new force. Crypto lender BlockFi’s interest accounts areunder local firefor alleged securities violations and executives at Tether, the mega stablecoin issuer, are reportedly in federal investigators’ crosshairs overcriminal bank fraud.
“We are watching the cases really closely,” Bromberg said in an interview before the latest Tether developments, “and are going to make sure that whatever we’re doing is in alignment with the latest understanding of every regulation that exists.”
Nonetheless, he said Eco “has not been convinced yet” by Vermont, Texas, New Jersey and Alabama’s allegations that BlockFi’s service is an unregistered security, a claim that could have ramifications for businesses like his.
Eco, which began life as a full-on crypto startup, isn’t so showy now about its practice of loaning out fiat as USDC. But the high efficiency model is how the startup puts its users’ dollar deposits to work.
Related:Crypto Custody Firm Fireblocks Raises $310M at $2B Valuation
“I think it’s under-appreciated by a lot of people, how many reasons there are for dollar-denominated demand in the crypto markets,” Bromberg said.
Private equity firm L Catterton and Activant Capital, a previous investor, led the round, Bromberg said. Andreessen Horowitz (a16z), Lightspeed Venture Partners, LionTree Partners and Valor Equity Partners also chipped in.
Eco plans to double its 25-strong headcount in the next six months to accommodate rapid growth. Bromberg said he’s pushing to accelerate the product timeline and plans to hire designers, product managers and engineers accordingly.
A larger team could also help Eco work through a 180,000-deep waitlist, which, once onboarded, will more than double the startup’s existing user base.
“The waitlist is certainly bigger than onboarded users,” agreed Bromberg, who declined to state by how much.
He credited the practice of 1-on-1 onboarding with producing high conversion rates and deposits of $7,700, 20x higher than the average size.
• Market Wrap: Possible Trend Reversal as Bitcoin Spikes Past $40K
• Tether Executives Facing Criminal Bank Fraud Charges: Report || India launches world’s largest blockchain diploma verification system: Amid widespread diploma forgery, and driven by the intense competition in India’s job market, the Maharashtra state government has announced the launch of a new blockchain verification system to ensure transparency for genuine qualifications. The new system will be the world’s largest educational blockchain system, and the Maharashtra State Board of Skill Development (MSBSD) has taken the active decision to overrule the nationwide ban on crypto technologies in order to deliver the progressive project. “In the last 10 years, there has been a rampant increase in forgery of government-issued documents which have caused huge financial and reputational losses to the stakeholders involved,” said the Chair of the MSBSD as he announced the new system. Ethereum (ETH) has been chosen as the decentralised ecosystem most suitable for hosting the project’s vast public blockchain, this may be due to the soon-to-be-launched Ethereum 2.0 update – which will bring immense scalability to the ecosystem. The system will be built following a new partnership between Indian-based blockchain start-up LegitDoc and the Maharashtra State Innovation Society. Maharashtra State has positioned itself as a leader of blockchain integration on the sub-continent, and this latest MSBSD project has already begun to inspire interest from other Indian states keen to stay at the cutting-edge of policy innovation. “We have an active work order from the Government of Karnataka Department of Information Technology and Biotechnology,” said LegitDoc CEO Neil Martis. “We are in talks with the Government of Telangana school education department and [the] Higher & Technical education department of Maharashtra to implement LegitDoc for their student community.” This could pave the way for mass-adoption of new blockchain technologies which offer tangible solutions to the complex challenges of running the world’s largest bureaucracy. Story continues The pilot project with LegitDoc has made Maharashtra state one of the first adopters of the new joint e-government system for education along with the Massachusetts Institute of Technology (MIT), Singapore and the island of Malta. More crypto news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice || Coinbase: Decline in Crypto Trading Activity Necessitates a Conservative Outlook: Are the winter clouds gathering in the crypto sphere? While not long ago, Bitcoin and its fellow cryptocurrencies’ hot streak appeared all set to last a while, the rally appears to have lost momentum for now. The surge’s pause could have a big impact on crypto exchange Coinbase ( COIN ). At least this is what a recent survey indicates to Mizuho analyst Dan Dolev . “Our survey of Bitcoin traders on Coinbase (COIN) reinforces our notion & recent data that 2H21 could see more muted Bitcoin trading activity, with prices remaining below peak levels. As such, we remain cautious on the company's near- to medium-term outlook,” Dolev wrote. Coinbase’ main revenue driver, says Dolev, is “elevated crypto retail volatility.” And after 1H21’s turbulence, the survey indicates 50% of users intend to hold on to their Bitcoin rather than trade it, which means that the coming months will possibly see volatility levels drop. Recent Coinbase volume data appears to support such a notion. Looking at the daily trailing 10-day average volumes, the data shows trading activity is currently “trending 35-40% below peak levels.” The drop in volume goes hand in hand with, if not a bearish, then a less exuberant outlook on where the Bitcoin price is heading, which the survey suggests has “limited near-term upside potential.” By December, on average, the survey’s respondents put the price of 1 BTC at $42,000, implying upside of 27% from current levels. That’s a solid return but is far below previous assumptions which called for a $100,000 price per Bitcoin by the end of the year. Only 5% now see the price exceeding that figure, while 55% see Bitcoin seeing out the year lower than $40,000. In the meantime, 32% intend on adding to their BTC stack, while 17% are looking to sell theirs. “In other words,” Dolev summed up, “The survey points to a positive up / down ratio spread of about 15% points in favor of buying.” As far as COIN stock is concerned, Dolev recommends staying on the sidelines for now. The analyst reiterated a Neutral (i.e. Hold) rating, backed by a $225 price target. The figure suggests the shares will remain range bound for the foreseeable future. (To watch Dolev’s track record, click here ) Story continues The rest of the Street, however, appears to believe there’s plenty more upside in store. The $388.86 average price target implies one-year gains of ~76%. The stock currently has a Moderate Buy consensus rating, based on 10 Buys, 4 Holds, and 1 Sell. ( See Coinbase stock analysis on TipRanks ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy , a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || Bitcoin Trending Down Despite Earlier Gains: Bitcoinremains on a downward trajectory toward $32,000 despite rallying as much as 4.6% during the early trading hours in Asia on Wednesday.
Bouncing from a 24-hour low of $31,620, prices were hovering at just around $32,500 at press time after they had reached a 24-hour high of $33,182, CoinDesk data shows.
The gradual slide is continuing to eat into year-to-date gains, which stand at just above 12%.
Related:Why Bitcoin Needs to Defend $30K
Intraday volume for the world’s oldest cryptocurrency remains considerably lower than weeks past, with the number of coins traded every four hours having tapered since the June 29 sell-off.
Yet, according to some, that may be an indication of greater things to come.
The stalemate between bulls and bears in bitcoin’s ever-narrowing range between $36,000 and $31,500 may soon come to an end,some analysts are suggesting.
“All the on-chain analysis suggests we’re at the tight end of a slingshot,” BCB Group CEO Oliver von Landsberg-Sadie told CoinDesk via Telegram. “It’s quiet now but don’t mistake that for lack of interest.”
Related:Google Searches for ‘Bitcoin Price’ Reach 7-Month Low
Landsberg-Sadie said it’s “anyone’s guess” about how close bitcoin would get to $100,000 when the “tension breaks.”
Indeed, June 29’s peak of $36,623 marked the last time bitcoin’s intraday spot price maintained a higher low, higher high setup. That indicates the price action is now firmly in the seller’s court.
Some observers are suggesting bitcoin may get a boost later this month following the expiration of investor restrictions on the sale of shares in the Grayscale Bitcoin Trust, as CoinDeskpreviously reported.
“Price pressure may actually never realize,” Kirill Suslov, CEO of trading app TabTrader, said about Grayscale releasing nearly 40,000 bitcoin shares (GBTC). Grayscale Investments is owned by Digital Currency Group, the parent company of CoinDesk.
“Usually, institutions rebalance their portfolio according to the mandate. So if they are underwater because the bitcoin price has dropped, they will actually have to buy more to keep the mandated allocation to this asset class,” Suslov said.
Because Grayscale’s Trust lacks a redemption mechanism, Laurin Bylica, co-founder of a decentralized crypto finance project TheStandard.io, said the unlocking of GBTC shares shouldn’t move bitcoin’s spot price.
“However, misleading and complex information lets investors worry and, therefore, can create short-term bearish anxiety,” Bylica said in an email.
Other cryptos in the top 20 by market value were mostly green, up between 1% and 10% over a 24-hour period with solana (SOL) clocking the biggest gains.
Asian equity markets were mostly up between 0.5% and 1%, with the exception of Japan, which fell 1.2%.
• Bitcoin Under Pressure, Faces Support at $30K
• Another Bitcoin Investor Sues T-Mobile Over SIM Swap Attack || Stock market news live updates: Stock futures add to record levels, Dow gains after Nike results beat: Stocks set fresh record highs on Friday, with traders hoping that a bipartisan infrastructure deal would help further stoke economic activity. Bitcoin prices tumbled as selling pressure continued for the cryptocurrency. The S&P 500 reached an all-time high and rose just over 2.74% since last Friday for its best weekly performance since February. The Nasdaq erased earlier gains to dip into the red and end just below a record level. The Dow added more than 200 points after component Nike ( NKE ) jumped after posting quarterly sales growth that rebounded across all major regions. Meanwhile, FedEx ( FDX ) shares sank after even estimates-topping fiscal fourth-quarter results failed to wow Wall Street. Bitcoin prices ( BTC-USD ) pared losses to trade back above $32,000 after setting a five-month low of about $28,800 earlier this week. Stocks extended gains from Thursday following President Joe Biden's announcement that he had reached an infrastructure agreement with a bipartisan group of senators. This helped catalyze a jump in cyclical shares including industrials and financials, with traders eying the additional federal spending on physical infrastructure and other initiatives. The deal would include about $600 billion in new federal spending on investments for new roads, clean energy and other projects, and cost nearly $1 trillion in total over the next five years. It would be funded via provisions including stronger tax collections enforcements for the wealthy, and wireless spectrum auctions and strategic petroleum reserve sales. "The way we're thinking about it is, it has the positive side of the deal in terms of the equity market perspective: More spending on physical infrastructure, electric vehicles, 5G and broadband, without the tax increases which would have been a negative from the equity market perspective," Gabriela Santos, global market strategist at JPMorgan Asset Management, told Yahoo Finance. "This is certainly a positive especially for the more domestic, cyclical-heavy parts of the market, as well as parts of technology like semiconductors, which are more related to the 5G and the green theme." Story continues In a sign of the ongoing recovery still under way in the U.S., the Labor Department's weekly jobless claims report out Thursday morning showed a drop in new filings, even as the margin of improvement came in slightly weaker than expected. But in a sign of the ongoing inflationary pressures in the economy, the Bureau of Economic Analysis reported that core personal consumption expenditures (PCE), or the Federal Reserve's preferred inflation gauge, rose by 3.4% in May over last year, marking the fastest increase since 1992. Treasury yields rose following the print, and the 10-year yield broke back above 1.53%. "We continue to like cyclical sectors, like industrials, financials and energy, and the possibility of a new spending bill is favorable for many of the companies in those sectors," Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance, wrote in an email. "However, the general reopening of the economy and renewed, post-COVID-19 economic growth is the most likely driver going forward, regardless of whether or not additional proposed legislation becomes law." — 4:00 p.m. ET: Stocks set fresh record high Here's where the three major indexes ended Friday's session: S&P 500 ( ^GSPC ) : +14.3 (+0.34%) to 4,280.79 Dow ( ^DJI ): +238.41 (+0.7%) to 34,435.23 Nasdaq ( ^IXIC ) : -9.32 points (-0.06%) to 14,360.39 — 12:45 p.m. ET: Stocks trade mixed as Nasdaq dips into the red Here's where markets were trading Friday afternoon: S&P 500 ( ^GSPC ) : +12.24 (+0.29%) to 4,278.73 Dow ( ^DJI ): +245.69 (+0.72%) to 34,442.51 Nasdaq ( ^IXIC ) : -7.03 points (-0.05%) to 14,362.56 Crude ( CL=F ) : +$0.71 (+0.97%) to $74.01 barrel Gold ( GC=F ) : +$0.60 (+0.03%) to $1,777.30 per ounce 10-year Treasury ( ^TNX ) : +4.4 bps to yield 1.531% — 11:48 a.m. ET: 'The entire economy has less than 1% remaining to recover' BMO Capital Markets economist says With real GDP having grown 6.4% annualized in the first three months of 2021, the U.S. economy has pulled itself rapidly from the doldrums of the COVID-19 pandemic. Overall, "the entire economy has less than 1% remaining to recover," with the economy expected to cross the "full-recover line and then some" in the current quarter, Michael Gregory, BMO Capital Markets deputy chief economist, said in a note. The first-quarter rise in GDP was led by durable goods manufacturing, professional services, information technology and administrative and waste management services, which together accounted for half of growth in the quarter even while constituting less than a quarter of overall GDP, Gregory added. However, some specific areas, while posting impressive growth rates so far this year, still have a ways to go before fully reaching pre-pandemic levels of output. "In terms of straight growth rankings in Q1, among the six strongest sectors, joining the above four industries were arts, entertainment and recreation (at #1) and accommodation and food services (#3)," Gregory said. "Both these sectors were the hardest hit by the pandemic and related restrictions. But, despite posting economy-leading growth rates, they still have a long way to go before fully recovering… around 20% for accommodation and food services… 35% for arts, entertainment and recreation." — 9:31 a.m. ET: Stocks open higher, S&P 500 sets fresh record high Here's where markets were trading after the opening bell: S&P 500 ( ^GSPC ) : +10.11 (+0.24%) to 4,276.55 Dow ( ^DJI ): +177.81 (+0.52%) to 34,374.63 Nasdaq ( ^IXIC ) : +26.03 (+0.18%) to 14,395.32 Crude ( CL=F ) : +$0.23 (+0.31%) to $73.53 a barrel Gold ( GC=F ) : +$11.50 (+0.65%) to $1,788.30 per ounce 10-year Treasury ( ^TNX ) : unchanged to yield 1.4870% — 8:35 a.m. ET: Core PCE inflation rises at the fastest rate since 1992, matching estimates Inflationary pressures accelerated in May as the jump off last year's pandemic-depressed lows in prices, as well as supply and demand mismatches in the current economy, became more pronounced. Personal consumption expenditures (PCE) rose by 0.4% in May over April, the Bureau of Economic Analysis said Friday. This was slightly slower than the 0.6% increase registered during the previous month month and the 0.5% rise expected, according to Bloomberg consensus data. Still, this marked a sixth straight monthly increase. Over last year, the broadest measure of PCE increased 3.9%, the fastest rise since 2008. This accelerated from a 3.6% increase in April. Excluding food and energy prices, the so-called core PCE rise 3.4% in May over last year, accelerating from a 3.1% increase in April. This marked the fastest increase since 1992. — 8:30 a.m. ET: Personal income drops for back-to-back month in May, spending comes in unchanged Personal income fell for a second straight month in May as a boost from federal pandemic-era assistance programs faded further, according to the Bureau of Economic Analysis' monthly report. Income fell 2.0% in May following a 13.1% drop in April, according to the bureau. Consensus economists were looking for a 2.5% drop, according to Bloomberg-compiled data. Personal spending registered as unchanged in May, missing estimates for a 0.4% rise. This came following a 0.9% month-on-month increase in spending in April, which was revised up from the 0.5% increase previously reported. The personal savings rate, or proportion of personal savings to overall disposable income, dipped to 12.4% in May from nearly 15% in April. This rate has come down precipitously from the pandemic-era high of more than 33% last spring, with consumers beginning to use their pent-up savings from over the course of the pandemic. — 7:25 a.m. ET Friday: Stock futures add to record levels Here's where markets were trading ahead of the opening bell on Friday: S&P 500 futures ( ES=F ) : 4,260.25 +4.25 points (+0.1%) Dow futures ( YM=F ) : 34,181.00, +99 points (+0.29%) Nasdaq futures ( NQ=F ): 14,371.25, +17 points (+0.12%) Crude ( CL=F ) : -$0.16 (-0.22%) to $73.14 a barrel Gold ( GC=F ) : +$6.10 (+0.34%) to $1,782.80 per ounce 10-year Treasury ( ^TNX ) : +0.5 bps to yield 1.492% — 6:12 p.m. ET Thursday: Stock futures trade mixed Here's where markets were trading Thursday evening: S&P 500 futures ( ES=F ) : 4,260.00 +4 points (+0.09%) Dow futures ( YM=F ) : 33,190.00, +108 points (+0.32%) Nasdaq futures ( NQ=F ): 14,352.75, -1.50 points (-0.01%) NEW YORK , NY - JUNE 02: Exterior view of the New York Stock Exchange and Wall St. as new company Organon start trading next thursday in New York on June 02 2021. Organon look to expand to provide treatments for other conditions unique to women, about 80% of the new company's revenues will come from outside the U.S (Photo by Kena Betancur/VIEWpress) (VIEW press via Getty Images) — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck Read more from Emily: Inflation: Is it transitory or not? May jobs report: Economy adds back 559,000 jobs, unemployment rate fell to 5.8% Charlie Munger on Robinhood and GameStop frenzy: 'It's a dirty way to make money' Charlie Munger says Costco 'has one thing that Amazon does not have' || Bitcoin tanks even as inflation jumps: Bitcoin backers praise the leading cryptocurrency as an inflation-proof "store of value." They contend that because the number of coins that can ever be issued is fixed, Bitcoin isn't subject to the kind of manipulation practiced by the Federal Reserve. The Fed's easy money policies, the argument goes, threaten to cause heavy inflation in the years to come because the central bank keeps swelling the money supply to spur economic growth. That practice is bound to create new dollars faster than the U.S. produces new products, hiking prices faster than salaries, and denting the purchasing power of America's households.
That can't happen with Bitcoin, say its adherents. Their idol can't be debased. Park your savings in Bitcoin or collect your paycheck in coins instead of dollars, and you'll safeguard your purchasing power. Over time, as dollar prices rise, the value of your Bitcoin holdings will rise at least in tandem to keep you whole. It's one of the few places were you can both protect your standard of living, and still make a killing.
Today, we're witnessing a shocking, unexpected surge in inflation that may or may not be long-lasting. That's a major test for Bitcoin's alleged virtues. So how's it performing as a hedge against prices for groceries, appliances, used cars, gasoline, and sundry other consumer and producer items that at least for now, are far outpacing incomes?
We'll examine Bitcoin's record versus two inflation measures, the Consumer Price Index, and the Treasury's 10-Year Breakeven Inflation Rate. The CPI is a current yardstick that shows the change each month over the previous year. The breakeven numbers are forward-looking. They project the average yearly rate of price increases over the next decade.
We'll start with Bitcoin versus the CPI. From January to October of 2019, the CPI was rising most months at an annual clip between 1.6% and 1.8%. But from late that year through February of 2020, the economy strengthened, and shortly before the pandemic struck, consumer prices were waxing at 2.3%. Not even close to a scare, but still a significant uptick.
Over those fourteen months, Bitcoin staged a big rally, vaulting from $3700 to $10,200. In hindsight, it like more a speculative bull run than a reaction to modestly rising prices. Still, inflation and Bitcoin moved in the same direction, though not nearly in the same proportions.
From mid-February to the end of August of last year, the CPI readings plunged below 0.5% in the depths of the COVID-19 crisis, before rebounding to 1.4% in September. Investors stuck with Bitcoin even though its protection might have seemed less important as inflation eased well below early 2020 levels. It began and ended that span at nearly the same level of around $11,000.
From September of 2020 through February of this year, inflation as measured by the CPI remained extremely mild, toggling between 1.4% and 1.7%. But Bitcoin more than quadrupled from $10,000 to $47,000. Bitcoin wasn't dancing to the CPI's tune. The big inflation surge started in March at 2.6%. In April the CPI waxed 4.2%, followed by ascending increases of 5.0% in May and 5.4% in June.
At first, Bitcoin appeared to be responding to the inflation alarm. It hit an all-time record of almost $65,000 in mid-April. But as inflation kept accelerating, Bitcoin suddenly reversed course, dropping by 50% from the peak to $32,500 at mid-afternoon on July 13. Americans' purchasing power, as measured by the CPI, was eroding at a pace not seen in years. Yet if you'd invested in Bitcoin as a safe haven when inflation took off in March, rather than staying even, you'd have lost a big chunk of your investment. Using the CPI as a metric, Bitcoin flops as an inflation hedge.
Of course, timing is everything: If you invested in Bitcoin as a counterweight to inflation a year ago, or in 2019 or 2017, the coin's stellar rise is no doubt making you feel like a genius today. It's the newcomers who turned to the asset as inflation started to soar who are suffering now, as CPI and $BTC move in opposite directions.
The 10-year Breakeven Index miorrors the rate on TIPs, Treasury Inflation Protected Securities that give investors a return in excess of expected price increases across the economy. The Breakeven rate was steady from January of 2019 to the pre-pandemic period in February of 2020, averaging around 1.7%. It didn't show the same upward tilt at the end of 2020 into 2021 that registered in the CPI. In contrast, Bitcoin's price tripled in those fourteen months to over $10,000. It showed no relationship with the steady-as-you go future anticipated by steady-as-you go Breakeven rate.
From February to September of 2020, the Breakeven dove and then rebounded to about where it started at 1.65%. Bitcoin didn't move much either, bouncing around but ending the period about even at $11,000. Then, the Breakeven and Bitcoin took off in tandem. From September 1, the Breakeven roared from 1.65% to 2.53% on May 17, 2022. Over the same interval, Bitcoin exploded from $11,400 to $43,200. Bitcoin looked like gold on steroids. It was not only outracing inflation, but delivering a giant windfall along the way.
It didn't last. Bitcoin was already on a downward spiral when the Breakeven rate reached its peak. Since then, that rate has eased slightly while the CPI kept rising fast. But the promise that Bitcoin would provide a shield against outsized price increases in the future isn't playing out. It's lost one-quarter of its value since inflation reached that new plateau in mid-May.
At $32,500, Bitcoin is selling at the same price as on January 1, 2021, when the Breakeven Rate was 1.7%, one-thirdlowerthan today.
Bitcoin marches to its own drummer, and neither today's inflation, nor its expected trajectory in the years ahead, sets the beat. Fans are struggling to explain Bitcoin's crazy rhythm. To love Bitcoin, it's better to believe, and forget about getting wonky and analytical about something that's too crazy to explain.
This story was originally featured onFortune.com || What’s open (and closed) on Memorial Day 2021: America, largely, was forced to skip Memorial Day last year, but in 2021, we’re ready for our cookout.
The holiday, which honors American soldiers who have died in military service, is the unofficial start to summer. And for many people, it’s the first three-day weekend since January.
For retailers, it’s sometimes the last chance to capture shoppers’ attention before they begin to focus on outdoor activities. But not every store is open. And it’s even more uneven with government and private services.
Here's a comprehensive look at which stores are open and closed, and which services are available, on Memorial Day 2021.
Generally, no. Memorial Day is a bank holiday, so you won't be able to make a counter deposit or withdrawal. But you are still able to use ATM machines to get cash or make a deposit into your account.
Memorial Day is a federal holiday, so the [hotlink]U.S. Postal Service[/hotlink] does not operate. [hotlink]UPS[/hotlink] and [hotlink]FedEx[/hotlink] also take the day off, but UPS [hotlink]Express[/hotlink] Critical and FedEx Custom Critical are still available. FedEx will also suspend Express service the Sunday before Memorial Day and Ground, Ground Economy and Freight service for the two day before the holiday.
If you want to invest on Memorial Day, you’re going to have to think about cryptocurrencies, since Wall Street takes Memorial Day off, as well. The New York Stock Exchange, Nasdaq, and bond markets are all closed.
With Prime Day looming, brick and mortar retailers are eager to use Memorial Day as a sale opportunity. Some, though, give their employees a break. [hotlink]Costco[/hotlink]will be closed. And many locally-owned small businesses choose to take the day off as well.
Bass Pro Shops- Open on Memorial Day
Bed Bath & Beyond- Open on Memorial Day
Belk- Open on Memorial Day
Cabella's- Open on Memorial Day
CVS- Open on Memorial Day
Dillards- Open on Memorial Day
Home Depot- Open on Memorial Day
Ikea- Open on Memorial Day
J.C. Penney- Open on Memorial Day
Kmart- Open on Memorial Day
Kohl's- Most stores are open.
Lowe's- Open on Memorial Day
Macy's- Open on Memorial Day
Michael's- Open on Memorial Day
Old Navy- Open on Memorial Day
Rite Aid- Open on Memorial Day
Target- Open on Memorial Day
T.J. Maxx- Open on Memorial Day
Walgreens- Open on Memorial Day
Walmart- Open on Memorial Day ("supercenters" are open 24 hours)
This year’s get togethers are likely to be larger than normal for many people. If you happen to run out of hamburger buns or chips or, god forbid, adult beverages, there’s no reason to panic. Most grocery stores will be open.
Note that even if a store is listed below as open, though, it's smart to check with them to ensure they don't have reduced hours.
Aldi- Open on Memorial Day.
Bi-Lo- Open on Memorial Day.
Food Lion- Open on Memorial Day
Harris Teeter- Open on Memorial Day
Ingles- Open on Memorial Day
Kroger- Open on Memorial Day
Publix- Open on Memorial Day.
Safeway- Open on Memorial Day
ShopRite- Open on Memorial Day
Stop and Shop- Open on Memorial Day
Trader Joe's- Open on Memorial Day
Wegman's- Open on Memorial Day
Whole Foods- Open on Memorial Day
Winn-Dixie- Open on Memorial Day
• This stockis reaping the benefits of the new "green" cryptocurrency chia
• These states will soonstop sending out $300 weekly unemployment benefits
• Commentary: Why Chinacracked downon Bitcoin
• The newlow-cost airlinestaking off this summer
• This ishow the global chip shortage will end
This story was originally featured onFortune.com || Netherlands Must Ban Bitcoin, Says Dutch Bureaucrat: The Head of the Netherlands’ Bureau for Economic Policy Analysis (CPB) Pieter Hasekamp has said the country must ban cryptocurrencies immediately.
Hasekamp believes that a cryptocurrency crash is inevitable, so the Netherlands should act promptly to avoid any potential damage. “For investors and the governments alike, the last person to act is the loser,” Hasekampsaid. “The Netherlands must now ban bitcoin (BTC).” The organization Hasekamp leads, the CPB, is part of the country’s Ministry of Economic Affairs and Climate Policy.
Hasekamp notes that other countries around the world have already taken steps to ban cryptocurrencies. For instance, Turkeybannedpayments in crypto in April, while, last month, Chinabannedlenders from offering services involving crypto. He adds these countries cite such reasons as fraud, criminal use, and financial instability. In this respect, he believes the Netherlands is falling behind.
Hasekamp advocated for the ban on the production, trade, and possession of crypto. However, enforcement of such a sweeping regime is largely infeasible, for one, because cryptocurrencies are not issued by financial institutions. Additionally, due to their decentralized nature, they are traded internationally, with authorities generally have little control over. Indeed, despite the ban in China, traders in that country are still managing tocircumventthe prohibition.
Hasekamp believes that the ban would subsequently lead to a decline in the value of cryptocurrencies. His understanding is that people use cryptocurrencies with the belief that they will eventually replace traditional money. However, he rejects this notion out of hand.
In the Netherlands, earlier attempts were made to tighten up the supervision of trading platforms, albeit without much success. Notably, Minister of Finance Wopke Hoekstra rejected a ban on cryptocurrencies in 2018.
Although nowhere near as strident, many financial authorities have also taken stances against the legitimacy of cryptocurrencies. Bank of England Governor Andrew Bailey, says they have no intrinsic value, calling them “dangerous.”
However, others believe a more nuanced approach would be more appropriate. Financial lobbying firm TheCityUK believes the country should enactconsumer protectionfor cryptocurrencies. They say this would help attract more crypto-based companies to London.
Meanwhile, Switzerland is going to great lengths to establish itself as aglobal hubfor cryptocurrencies. Crypto exchanges are welcome if they comply with rules combating financial crime and secure the proper licenses. One company even noted how the Swiss Chamber of Commerce even helped facilitate his visa paperwork.
Other countries are also envisioning a more welcoming approach.Speakingat a World Economic Forum event earlier this year, Minister of Economy and Innovation of Lithuania Aušrinė Armonaitė highlighted her experience facilitating the integration of fintech companies into her country’s capital city. She believes this could be a model for the integration of decentralized finance firms.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-05-22]
BTC Price: 7680.07, BTC RSI: 62.68
Gold Price: 1273.60, Gold RSI: 43.05
Oil Price: 61.42, Oil RSI: 43.93
[Random Sample of News (last 60 days)]
What Are Asset-Backed Tokens and Why Do They Matter?: Bitcoin, which came out more than ten years ago, is the first use case of blockchain. However, as of today, blockchain’s list of use cases is not capped at cryptocurrencies, as many features have been elaborated to address the various needs across different industries. Currently, the number of utility tokens prevails, though the greatest share of market capitalization value is still in the hands of cryptocurrencies. A lot of traditional traders consider crypto assets to be “high-risk” investments and prefer to invest in more traditional assets like the highest volume stocks in the market, Tesla Inc. (NASDAQ: TSLA ), Apple Inc. (NASDAQ: AAPL ), Alphabet Inc. (NASDAQ: GOOGL ) and Amazon.com Inc (NASDAQ: AMZN ) or different commodities like Gold, Silver, Oil etc. Diamonds and other precious gems are also considered to be a rather safer investment that is not very “high risk” and can make sense if you’re a risk-hating trader. Enter Stablecoins, which are blockchain-based tokens pegged to the price of a fiat currency like USDT (pegged to USD), have secured a decent place in the industry as well. Nonetheless, one of the most significant categories of digital assets is represented by asset-backed tokens, often referred to as security tokens. What Are Asset-Backed Tokens? For those unfamiliar, asset-backed tokens are blockchain-based units of value that are pegged to real-world assets, such as company shares, real estate, diamonds, or commodities. They represent a large subcategory of security tokens and allow users to hold ownership rights over a physical and tangible asset in a digital form. Recently, the US Securities and Exchange Commission (SEC) released a new document that defines digital assets and elaborates on how issuers and investors should treat them. The regulator’s framework is regarded as an analytical tool to determine which digital assets behave as securities and fall under SEC’s radar. When a fully operational legal framework is developed around security tokens, they might slowly but steadily replace many of the traditional trade operations by bringing more automation and transparency. Thus, asset-backed tokens are an important type of token as they represent real physical assets. But why would investors switch to security tokens anyway? Some of the reasons refer to the increased level of automation, security, and transparency, and also the fact that the markets become more accessible to investors. Many experts anticipate that the traditional markets will adopt tokenization at a global scale, which will form blockchain-oriented ecosystems fueled by security tokens. Story continues Some relevant examples of asset-backed tokens are DIAM and tokenized stocks. The former is a token issued by diamDEXX , which is backed by physical diamonds. diamDEXX built a trading ecosystem that allows professional and retail investors to purchase real physical diamonds with DIAM coins, at manufacturer discounted prices, through the diamDEXX platform. "Asset-backed tokens, at least when they're done right, offer back-and-forth convertibility, an extremely useful financial tool." Says Jeremy Dahan, CEO of diamDEXX. "They enable people to own assets in a liquid form, and when redeemed, function as a tool to acquire valuable goods". The DIAM Coinsistent, as diamDEXX refers to its coin, is backed and audited by the International Diamond Exchange (IDEX) and has issued more than $150 million worth of diamond-backed tokens. Diamond Token As for tokenized stocks, it is a way of increasing liquidity and provides the ability to purchase a fraction of a share. On top of that, while regular stock market trading is restricted only to working hours, tokenized shares are not, and can be traded after-hours as well. As of January 2019, publicly traded stocks such as Tesla Inc. (NASDAQ: TSLA ), Apple Inc. (NASDAQ: AAPL ), Alphabet Inc. (NASDAQ: GOOGL ) and Amazon.com Inc (NASDAQ: AMZN ) are being traded as ERC-20 tokens on the Ethereum blockchain, powered by DX.Exchange. So Why Do Asset-Backed Tokens Matter? Security tokens, mainly driven by asset-backed tokens, are a huge trend today, especially after the hype over utility tokens, issued through initial coin offerings (ICOs), is fading away . This unique group of tokens is of great importance because they enable investors to store value that is not related to the US dollar or other fiat currencies, most of which are prone to inflation. Besides, security tokens ensure higher liquidity, as they permit the fractionalization of ownership of valuable assets, like houses, so that more investors could own portions of the same asset. For example, the DIAM token allows holders to own fractions of diamonds, as it would be very expensive to purchase an entire diamond. A blockchain-based infrastructure aimed at security tokens would be quite welcomed by retail investors, who can get exposure to various markets by investing small amounts in fractionalized assets. For instance, they can choose to buy 0.1 tokenized Amazon.com stock. Another important advantage is that asset-backed tokens allow a higher degree of compliance. Financial regulators such as the SEC will soon be able to track security tokens much easier than regular securities. This is because the distributed ledger technology (DLT) ensures a high level of transparency. Regulators may join the blockchain network where the given securities are issued and traded and verify whether the transactions are in line with the requirements. Blockchain doesn’t just ensure a convenient way to hold ownership over a physical asset, but it also helps the relevant parties to automate transactions. We might see more institutional investors and platform providers turning to asset-backed tokens, and the motives are clear – they represent a much better alternative to the current ecosystem built around traditional assets. Disclosure: None. This article was originally published at Insider Monkey . View comments || Nasdaq to add XRP index to Global Index Data Service: New York-based stock exchange Nasdaq hasannouncedit is going to add the real-time Ripple (XRP) index to its Global Index Data Service. The index will be provided by blockchain data and research company Brave New Coin, and will be available from May 1.
“BNC has developed the XRP Liquid Index (XRPLX) to meet the marketplace requirement for a single, reliable and fair USD price for XRP—based on live real-world trading activity,” Brave New Coin writes ina press release. “The index is designed to report a market price at which liquidity could enter or exit an XRP position. The XRPLX captures a comprehensive, global sample of liquidity on the highest volume and quality exchanges.”
Currently, Bitfinex, Bitstamp, Poloniex and Kraken are included in the XRPLX index; Coinbase will be added after review.
The companies first teamed up when Nasdaq launched Brave New Coin’s two indices in February—Bitcoin and Ethereum Liquidity Indexes (BLX and ELX). || World’s Largest Bitcoin Exchange Wants to Help Rebuild Notre Dame: ByCCN:Binance, the world’s largestbitcoin exchange, is stepping up efforts in the crypto community to help rebuild Notre Dame Cathedral in Paris, France.
The iconic 900-year-old Catholic church literally went up in flames afterbeing destroyedby a massive fire. Authorities are still investigating the suspicious cause of the raging blaze.
Binance CEOChangpeng Zhaothrew down the gauntlet to the crypto industry, urging them to help restore the historic landmark and show the world thatbitcoincan be a force for good.
“If we can push crypto to the last mile of the Cathedral building, it’s the ultimate adoption. Bring crypto to religion!”
Binance launched theRebuild Notre Damecampaign on April 17. On the fundraising page, the crypto juggernaut wrote:
“On April 15, 2019, fire broke out of the roof of the historic Notre Dame Cathedral in Paris, France, severely damaging the edifice and destroying valuable artworks and relics.” || Four types of crypto coins and how to use them: Cryptocurrencies have expanded far beyond Bitcoin. The recent upward shift in the market for Bitcoin has led to positive movements for altcoins too. But what are these different types of crypto coins and how can they be used? Below, we give you access to five definitive guides dedicated to different types of crypto coins. Suitable for beginners and more experienced traders, we take a look at everything from Bitcoin through to the increasingly popular privacy coins. Bitcoin Bitcoin is a decentralised digital protocol, allowing participants to transfer value directly to one another. This eliminates the need for third parties or central intermediaries to come between or govern transactions. It’s the original cryptocurrency and currently holds the most market capitalisation. But what is Bitcoin, why was it created, and what benefits does it offer? Decentralisation is, perhaps, the most important characteristic of this cryptocurrency. We explain what decentralisation is, how it challenges traditional banking, and why Bitcoin users prefer this methodology. We also give you a brief history of the coin, how it can be mined, how you can buy Bitcoin, and how it can be used. We reveal some interesting purchases that have been made with Bitcoin, including fast cars and mansions. To find out more about Bitcoin, download this definitive guide. Altcoins Put simply, an altcoin – or an alternative coin – is any cryptocurrency that isn’t Bitcoin. After the initial success of Bitcoin, other peer-to-peer currencies attempted to replicate the winning formula, each tweaking their currency ever so slightly to address specific issues. These issues scalability, mining difficulty, and privacy. Altcoins often use different types of consensus protocols, offer different benefits such as a faster transaction times, or even have different purposes to merely trading. There are some key players in the altcoin side of the industry, including Ethereum, Litecoin, and Ripple. These are just a few in a long name of alternative crypto coins and projects. You can learn more about the leading five altcoins by downloading this definitive guide. Story continues By doing so, you’ll also discover how to mine altcoins, where you can trade them, and the benefits you can receive from each. Stablecoins Cryptocurrency has long been known for its volatility, one of its main barriers that prevent mainstream adoption. With values constantly changing and some exchanges being accused of price inflation, stablecoins have been created to provide greater stability to crypto coins and their users. Stablecoin refers to a class of cryptocurrencies which offer price stability and/or are backed by reserve asset(s). Stablecoins attempt to offer cryptocurrency users and enthusiasts the best of both worlds: instant processing and security of cryptocurrency payments and the volatility-free stable valuations of fiat currencies. There are two major types: centralised and decentralised stablecoins. Stablecoins offer many alternative benefits to Bitcoin, including global commerce opportunities, greater tools for traders, and the decentralisation of financial services. However, there are also a number of risks you need to consider before investing. These include counter-party risk, centralisation risk, and potential algorithm manipulations. So with all that in mind, do stablecoins offer a good enough alternative? Download this definitive guide to find out. Privacy coins When Bitcoin introduced cryptocurrencies to the world, privacy was an underlying attribute due to address confidentiality. Of course we know today that because of metadata, it’s possible to easily link IP addresses and usernames to Bitcoin and Ethereum addresses. Plus, because all transactions are broadcasted publicly, users lose some privacy features as well. The need for privacy is crucial for the success of many cryptocurrencies. As a result, privacy technologies have been developed to resolve the shortcomings of the original crypto, Bitcoin. These technologies include second-layer protocols, ring-signature approaches, TOR, and zero-knowledge based privacy. These underlying technologies have led to greater projects including Mimblewimble, Grin and BEAM. To explore these side-chain protocols and privacy coins, be sure to download this definitive guide . We provide an in-depth overview of five leading privacy coins. Not only will you discover the benefits of privacy coins, you’ll also have access to some important discussions around why the fight for privacy matters. Conclusion There are different types of crypto coins, suitable for different users. Your choice in investment may come down to the benefits offered, the underlying technology used, or the intention of the coin. Although Bitcoin is still the most popular, it doesn’t mean there is a lack of competition. Make sure you download our guides to find out which is the best crypto coin for you. The post Four types of crypto coins and how to use them appeared first on Coin Rivet . || Rich Bitcoin Trader Risks Death Penalty for Building Home on the Sea: Wealthy Bitcoin trader Chad Elwartowski took his crypto stockpile and built a home on the sea. For this crime, he risks the death penalty. | Source: Shutterstock By CCN : Thai officials are royally enraged at a man named Chad Elwartowski, reportedly a wealthy Bitcoin trader, for deciding to build a platform house off the coast of Phuket. Building Your Own Country At Sea Can Cost Your Life in Thailand A formal complaint has been filed, the charge being the violation of Thailand’s criminal code, section 119. That section of Thai law reads: “Whoever, does any act with intent to cause the Country or any part thereof to descend under the sovereignty of any foreign State, or to deteriorate the independence of the State, shall be punished with death or imprisonment for life.” Authorities believe that by building a “seastead” or homestead on the sea, Elwartowski and his wife, Supranee Thepdet, are attempting to create an independent state and threaten the sovereignty of Thailand . bitcoin thailand A wealthy Bitcoin trader now faces the death penalty after trying to build a seastead in Thailand. | Source: Shutterstock The charge is dangerous, and a police official told the Bangkok Post that the structure would be torn down before long. Additionally, the company which built the structure is now under investigation. Officials argue that the structure is a barrier to oil ships bound for Phuket. It seems self-evident, given the reporting and handling of the situation, that Elwartowski took no efforts to obtain permission to build the platform. Read the full story on CCN.com . || Buffet Calls Bitcoin a ‘Gambling Device’: Bitcoin got another bashing from theSage of Omaha.
Warren Buffet told reporters at Berkshire Hathaway’s annual meeting in Omaha, Nebraska that he still couldn’t supportbitcoin.
“It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything,” he said.
Foam Turns to Token Grants to Build Out Decentralized Mapping Platform
“It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me.”
Buffet also pointed to a button on his jacket and said that he could call it a token and charge $1,000 for it, wroteCNBC.
“What I’ll have here is a little token…I’ll offer it to you for $1,000, and I’ll see if I can get the price up to $2,000 by the end of the day… But the button has one use and it’s a very limited use,” he said.
Buffet has previously stated thatbitcoin is a “delusion” but that blockchain is ingenious. Last year he called it“rat poison squared”and said it was a nonproductive asset.
SIX Stock Exchange May Issue Its Own Token, Says Exec
When asked at this month’s meeting if he’d ever be involved in the technology, he replied: “I wouldn’t be the person to be a big leader in blockchain.”
Buffet image via Shutterstock.
• ‘Not a White Paper’: Marketing Document Details $1 Billion Bitfinex Token Sale
• A Visual Guide to the Hot, New Crypto Fundraising Mechanism – the IEO || CVS to Sell Cannabis-Based Products, but Only in These Key States: • Drugstore CVSrecently announced its plans to begin offering hemp-based CBD products at 800 stores across eight states.
• The news sent shares of Ceraleaf, the company that makes the product, soaring some 17 percent on March 21.
• The market for CBD oil is projected to reach $1 billion by 2020.
The largest pharmacy chain in the country has begun selling cannabidiol (CBD) products in eight states, marking a potentially major development in the growth of the CBD industry. On March 20, drugstore chain CVS — which has over 9,900 locations worldwide — announced its plans to begin offering tinctures, oils, ointments and supplements with CBD in 800 stores across California, Colorado, Nevada and five other states.
Seeing Green:How Much States Make From Cannabis
The move by CVS to begin offering CBD products comes on the heels of the legalization of hemp last year. While hemp contains little to no tetrahydrocannabinol (THC), the cannabinoid that gives marijuana its psychoactive properties, it does have CBD, which is present in both the hemp and cannabis plants. And while it remains illegal to sell food products laced with CBD, supplements and other over-the-counter treatments using the compound are legal to sell in certain states. And, with the availability of CBD in now-legal hemp, national retailers can consider selling these products in the jurisdictions where it’s legal without violating federal law. That’s important as even those companies selling cannabis products legally in states like California or Colorado are unable to do things like process credit cards or use banks.
Supplements using CBD have become a popular new remedy for anxiety and some other ailments despite a relative lack of scientific evidence supporting claims it can relieve symptoms for those conditions. The market for CBD oils is projected by certain industry groups to reach $1 billion by 2020.
One of the big winners in the deal is Ceraleaf, the legal cannabis company that is partnering with CVS to sell its products. The news was announced during the company’s earnings call on March 20, and company shares were up 17 percent in trading on March 21 on the Toronto Stock Exchange after already gaining 41 percent on the year.
Also See:Kamala Harris Backs Marijuana Legalization — Should Investors Make the Leap?
While part of the only reason CVS could consider selling CBD products is that it can now access those that don’t utilize cannabis, it remains likely that many will read this move as part of a growing cultural acceptance for cannabis consumption in the United States. At least 10 states have legalized sale for recreational use — including California, the nation’s most populous state — and at least 22 states have decriminalized possession of small amounts.
That puts the state of the legal cannabis industry in a unique regulatory environment that makes the proper valuation of the companies currently in business exceedingly difficult. Plenty of investors might be imagining an opportunity not unlike the one that helped Joe Kennedy establish the family’s dynasty when he purchased the rights to distribute prominent European liquor brands like Dewars in the United States at a discount shortly before the repeal of Prohibition — a deal that made him the equivalent of about $100 million in today’s money. Should the current climate of relaxation of marijuana laws continue — and eventually result in changes to federal law — it could mean that at least some cannabis stocks could ultimately produce huge returns.
Related:These Major Brands Are Taking Cannabis Mainstream — Will You Invest?
However, there’s a reason why the entire industry is so fraught with risk. Marijuana remains a schedule I drug, putting enormous restrictions on any company that sells it regardless of state laws where it operates. What’s more, not every marijuana stock is made the same. Most are still too small to trade on the Nasdaq or New York Stock Exchange, meaning that a large portion of the industry is penny stocks that trade on OTC markets. That makes for a lot more risk, including the potential for bad actors: the Securities and Exchange Commission opted to release an investor warning against penny stock frauds involving cannabis stocks back in 2014.
So, for the time being, cannabis stocks should be viewed as a very high-risk, high-reward proposition. Some might present incredible opportunity for huge growth due to the current, unique historical period of transition in terms of their product’s legality. But legalization is not necessarily a foregone conclusion, and even if it does come to pass, anticipating which specific companies will cash in — and which are destined to wash out or represent outright fraud — is not easy.
Find out whichstates have earned billions through the marijuana industry.
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• Watch:Coca-Cola Eyes Possibility of Producing Cannabis-Infused Drinks
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This article originally appeared onGOBankingRates.com:CVS to Sell Cannabis-Based Products, but Only in These Key States || U.S. Dividend Growth Trends Higher: This article was originally published on ETFTrends.com. Data indicates dividends continue growing in much of the developed world, including the U.S., a theme that bolsters the case for exchange traded funds, such as the ProShares S&P 500 Aristocrats ETF (CBOE: NOBL) . NOBL tracks the S&P 500 Dividend Aristocrats Index, a benchmark that only includes companies that have boosted dividends for 25 consecutive years. Dividend growth strategies, including NOBL, often feature exposure to the quality factor and a recent analysis of NOBLs underlying index confirms as much. Global dividends rose 7.8% in the first quarter to $263.3 billion, matching last years growth and pushing the Janus Henderson global dividend index to an all-time high, according to a report by the asset manager on Monday, reports Reuters . Once again, the U.S. was a major driver of global dividend growth. U.S. payouts rose 8.3% to a record $122.5 billion, with 90% of companies in the asset managers index increasing their payouts and banks making the strongest contribution to growth, according to Reuters. NOBL allocates nearly 13% of its weight to the financial services sector, the fund's third-largest sector weight. Payouts Are Growing Companies that have consistently increased dividends tend to be high in quality and show a strong potential for growth. These dividend growers have been able to withstand periods of market duress, exhibiting smaller drawdowns as investors sold off riskier assets, while still delivering strong returns on the upside, to generate improved risk-adjusted returns over the long haul. Investors should expect a moderated pace of payout growth this year, in the U.S. and some other developed markets. Janus Henderson expects a record $1.43 trillion in payments this year, up 4.2% in headline terms, the report said, according to Reuters. Thats substantially lower from the 9.4% rise seen in 2018 and would be the slowest growth since 2016. Healthcare, which is NOBL's fourth-largest sector weight at 10.82%, was an important contributor to global dividend growth in the first quarter. Story continues By sector, pharmaceutical companies offered the biggest payouts in the quarter, contributing $1 in every $8 paid globally due to special dividends from Novartis and Roche, notes Reuters. For more on core investing strategies, visit our Core ETF Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Vans, Nike Among 170 Footwear Companies Concerned About Tariffs Bitcoin, Stablecoin, Blockchain, Enterprise Ledger
WTF? So Many Retirement Idiots Columbia Threadneedle Makes Changes to its ETF Line Up Walmart Looks Into Expanding Home Office To Attract Talent READ MORE AT ETFTRENDS.COM > || LOL! US Nobel Laureate Economist Wants to ‘Shut Down’ Cryptocurrencies: Nobel Prize-winning economist Joseph E. Stiglitz has called on authorities to 'shut down cryptocurrencies' like bitcoin. | Source: REUTERS/Christian Hartmann/File Photo By CCN.com : Nobel-Prize winning economist Joseph Stiglitz believes that cryptocurrencies need to be shut down. Demonstrating precisely zero knowledge of the concept of peer-to-peer networks, he told CNBC that he “actually [thinks] we should shut down the cryptocurrencies.” Transparency Good, Bitcoin Bad Stiglitz claims he supports digital payment systems because they would help with regulation, saying: “I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better-regulated economy if we had all the data in real time, knowing what people are spending.” Lack of privacy and potential for improved surveillance are a sticking point among cryptocurrency enthusiasts . Plenty of people believe that privacy coins such as Monero and Zcash will eventually be the dominant mode, while privacy innovations in Bitcoin such as CoinJoin have seen a massive increase in usage . Stiglitz was one of three people to earn the Nobel prize for economics in 2001. He, Michael Spence, and George Akerlof won the award “for their analysis of markets with asymmetric information.” The official reason given for his prize reads: “Joseph Stiglitz clarified [a] type of market adjustment, where poorly informed agents extract information from the better informed, such as the screening performed by insurance companies dividing customers into risk classes by offering a menu of contracts where higher deductibles can be exchanged for significantly lower premiums. In a number of contributions about different markets, Stiglitz has shown that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.” Unqualified Remarks? His Nobel prize has nothing to do with digital payments or cryptography, but the opinion of a respected economist will be taken seriously by the likes of government regulators. Read the full story on CCN.com . || No ‘40% in a Day’ Altcoin Pumps Coming This Bull Market: Mike Novogratz: The bull market of 2019 is not the same as 2017. Mike Novogratz says By CCN : If you’re on the edge of your seat for the “crazy altcoin pumps” that the market experienced in the 2017 bull run, you might be waiting a long time. Michael Novogratz , who is at the helm of crypto merchant bank Galaxy Digital, suggests that bitcoin will leave its smaller peers in the dust. Ran NeuNer, the host of CNBC’s “Crypto Trader,” got the conversation started on Twitter when he observed: “The market is running but we still haven’t seen the crazy alt pumps, pumps where coins do 40% in a day…is it coming?” That’s when Novogratz burst the bubble, so to speak, responding that things have changed since the last bull run. “Not this time. Market getting smarter. BTC will outperform.” Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 Bitcoin’s dominance is currently hovering at 56.7%. On this date in 2017, bitcoin’s dominance was nearly 10 percentage points lower at 47%. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
I’m new to this whole stock thing but I guess green is good :-) #crypto #influencermarketing #NASDAQ #NYSE #cryptocurrency #bitcoin #StockMarket #cryptocurrencies
#stock #blockchain #market #competition #trader #influencer #datascience #money #deeplearning
#Investments https://t.co/yTHAqZy0ic || Repost & Follow:
Twitter https://t.co/DykUQDeddU
Facebk https://t.co/13lzYZ92C4
skype https://t.co/cGF9Fm8RBE
Get:
BTC https://t.co/4lGCeSVt0a
YPTO https://t.co/uN4lKe8Avm
Read: https://t.co/pgVLfC6iWl To @Madhu96496831 @JuditAlonsoG @leonrxs #globalwarming #persian || first 15 to like and retweet gets $500 worth of bitcoin #sugarbabywanted #sugardaddyneeded #sugardaddies #SugarDaddySerious #BitcoinCash #SugarBabiesNeeded #bitcoin #bitcoinrussia #Bitcoin_Cash #bitcoinUK #sugardaddydating #BitcoinSV #bitcointwitter #sugardaddyuk DM me✔️ || For those still wondering if bull market confirmed just look at the $BTC monthly chart and this massive volume that is building and that longer and longer green dildo that is forming.We are still May 13th..
Cheers!!
#btc #bitcoin #crytocurrency #eth #ethereum https://t.co/RnOozUeF3y || Whale Moves $212,000 Million for 57 Cents Using Bitcoin https://t.co/mEXedq2z5Y https://t.co/AviL3t1ObN || Arbistar 2.0, the Spanish version of bitcoin arbitrage
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https://t.co/BWKQ1nz9Rj Rabencoin abencoin Rbencoin Raencoin Rabncoin || @Lvm1952 @AmberesCoin Yo no comparto ideales con @NicolasMaduro solo veo que @PetroDivisa Puede salvar nuestra economía, y si ya maduro me envió la clave por me los cambiaron de PTR A BTC. @AmberesCoin https://t.co/Zk0LYqrxY0 || Long/Short Bitcoin & altcoin changes with up to 100x Leverage at PrimeXBT! 🎉🎉
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$MKR - $BTT - $ONT - $BTMX - $NANO - $GRIN - $NEXO - $PAX - $HT - $IOTA https://t.co/4rOgpDnCkn || @KristinMScheure @Nouriel Thanks for the good laugh today. #Nouriel is a goof when it comes to #Bitcoin. He deserves all the ridicule the world can give him. || Current Top 3 Dapps by Daily Active Users (DAU)
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Trend: up || Prices: 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-04-10]
BTC Price: 1187.13, BTC RSI: 59.95
Gold Price: 1251.10, Gold RSI: 57.85
Oil Price: 53.08, Oil RSI: 66.75
[Random Sample of News (last 60 days)]
Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF: Compiled by ETF.com Staff Dividends Pile Up With This High-Yield Dividend ETF (SeekingAlpha) The market is exceptionally expensive, but HDV should be on the watchlist for potential opportunities. Sector Rotation & The Momentum Factor (Newfound Research) Research indicates sector rotation strategies are just poorly executed versions of momentum investing. These Fed Officials Give The Best Policy Signal (Bloomberg) A useful infographic on which Fed officials accurately indicate policy changes, based on a poll of economists. 12b-1 Fees: It Is Time To Bid Them Farewell? (Kitces.com) A look at an added cost to mutual funds that has become even more controversial with the rise of ETFs and fee-based advisors. Schumer Warns Of Government Shutdown Over Trump’s Border Wall (Bloomberg) Senate Democrats warned Republicans Monday that attempts to take funding away from Planned Parenthood or pay for President Donald Trump’s border wall in a stopgap spending bill that must pass by late April would result in a government shutdown. Oil Market Is About To Get Ugly (CNBC) Could we retrace the entirety of the gains off the February 2016 low at $26.05? It's quite possible, writes John Kilduff. Learning From Wounds: What Lies Ahead For Other Bitcoin ETFs (The Cointelegraph) Considering the decision made on the Winklevoss Bitcoin ETF by the Securities and Exchange Commission on Friday, March 10, it's not likely the other two bitcoin ETF applications would be approved. How Shale Is Reshaping The World: 3 New Wars (ZeroHedge) Quote: "The U.S. Shale revolution will accelerate the breakdown of the global order as we know it, reshaping global geopolitics, leading to three major conflicts: Russia vs. Europe, Iran vs. Saudi Arabia and an Asian tanker war." The XLV Levels To Watch These Next 3 Weeks (Schaeffer’s Investment Research) With the GOP health care reform plan in focus, XLV appears to be in the process of forming a triple top. Story continues Small-Cap Outperformance Since The Election & Shareholder Yield (MainStay Investments) Small- and midcap stocks have outperformed large-caps since the election. Can the upward move persist? Recommended Stories Monday Hot Reads: Avoid This Popular Dividend ETF Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF Rebalancing Of Smart Beta ETFs Often Overlooked Tuesday Hot Reads: Top 5 Dividend ETFs For 2017 Swedroe: Investors’ Odd Affection For Dividends Permalink | © Copyright 2017 ETF.com. All rights reserved || U.S. investment firm plans launch of first ever ethereum classic private fund: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - U.S. investment firm Grayscale Investments plans to launch the first-ever private fund focused on ethereum classic, a blockchain platform, according to Barry Silbert, founder of the company's parent Digital Currency Group. Ethereum classic's token is the seventh largest digital currency in terms of market capitalization, totaling $126.6 million. The coin powers a decentralized blockchain hub in which developers can create different applications that can dramatically enhance the transfer and sharing of information and value. Ethereum classic was built on the same fundamental principles as bitcoin: decentralization and immutability. On Monday, ethereum classic traded at $1.42 on digital asset exchanges. "As investors have grown more interested in digital currency as an asset class, we've also seen growing frustration with the difficulty in purchasing non-bitcoin digital currencies," Silbert told Reuters. "We're excited to launch a fund for ethereum classic to satisfy the growing interest we are seeing in ETC from more mainstream investors." The ethereum classic fund will be an open-ended trust that can raise an unlimited amount of capital, Silbert said. Digital Currency Group will be seeding it with its own capital and it will be offered initially to accredited investors, he added. This will be the second digital currency fund for Grayscale, which launched the Bitcoin Investment Trust in 2013, the only publicly-traded U.S. security in the over-the-counter market invested in bitcoin. Ethereum classic has had a rocky history. It came out of a split from the original ethereum blockchain platform created by Russian programmer Vitalik Buterin and launched in 2015. In April 2016, a blockchain solutions company called Slock.it announced the launch of The DAO on Ethereum. The DAO was designed as a decentralized crowdfunding model, in which anyone could contribute ethereum tokens to become a voting member and equity stakeholder in the organization. Story continues The DAO eventually raised $150 million as of late May last year. But on June 17,2016, an anonymous hacker funneled approximately $60 million in tokens into a separate account. The ethereum network decided to undertake a "hard fork", in which the community would create an entirely new version of the ethereum blockchain, erasing any record of the theft, and restoring the stolen funds to their owners. A new blockhain platform was then formed, keeping its ethereum name, and the original version was branded as ethereum classic. Both ethereum and ethereum classic trade on digital asset exchanges. The new ethereum has a larger market cap of $1.8 billion, with the token trading at $19.97 on Monday (This version of the story corrects the headline and first paragraph to show Grayscale plans to launch ethereum classic private fund, not that it has already launched the fund) (Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrew Hay) || Bitcoin steadies after biggest three-day tumble in over two years: By Jemima Kelly LONDON (Reuters) - Bitcoin regained its footing on Monday, having suffered its heftiest falls since early 2015 between Thursday and Saturday as investors sold the digital currency on worries about its future. Having soared to an all-time high of $1,350 on the Bitstamp exchange on March 10, on speculation that regulators could approve the first U.S. bitcoin exchange traded fund the following day, the digital currency then slipped back. Its falls began accelerating on Thursday and it hit a five-week low of $944.36 on Saturday. But bitcoin recovered a little on Sunday and built on those gains on Monday, climbing around 2.5 percent to roughly $1,050 by 1815 GMT. Bitcoin experts said its steep losses were driven by a longstanding, and intensifying, row over whether - and how - to increase the capacity of the "blocks" that bitcoin transactions are processed in, so as to make sure there are no delays in transactions being finalised. "The bitcoin scaling debate is a risk for the network and highlights core issues in terms of governance and this is where more nimble crypto competitors see advantages in fleshing out their capabilities sooner," said Charles Hayter, CEO of digital currency analysis website Crytocompare, in London. At the same time that bitcoin was plunging, a newer, rival "cryptocurrency" was soaring: ether. The digital currency behind Ethereum - a project that some experts say holds more potential than bitcoin - has almost tripled in value this month, jumping to record highs of around $45. Some experts said traders were selling bitcoin and buying ether, which was exacerbating the falls in the original cryptocurrency. "Traders in the space are looking for better returns in the more risky and nascent cryptos such as Dash, Monero and Ethereum (and are) looking to replicate the extraordinary returns that bitcoin saw in its early days," added Hayter. U.S. regulators dashed Cameron and Tyler Winklevoss's bitcoin ambitions earlier in the month by rejecting their application to list an exchange-traded fund linked to the digital currency. (Reporting by Jemima Kelly; Editing by Alison Williams) || Flow and Manchester United Team up to deliver the Ultimate Football Experience to Caribbean Footballers: MIAMI, FL--(Marketwired - Feb 27, 2017) - Up-and-coming Caribbean footballers between the ages of 13 and 16 will not be able to contain their excitement, as news breaks that Flow and Manchester United will host The Ultimate Football Experience , a skills-based competition, supported by the Caribbean Football Union . The programme seeks to give youngsters, the chance-of-a-lifetime to participate in a talent development football camp; and even earn a trip to Old Trafford, Manchester to see Man Utd vs Crystal Palace on May 21 st 2017. The good news gets even better as registration opens this week for the football competition which runs from March through to May 2017. Here's how it works: skilled boys and girls can register online at https://discoverflow.co/flowmanutd . Registered participants will then be instructed to appear at designated football festivals across all Caribbean markets in which Flow operates. The participants will engage in a Manchester United Soccer School's international programme, which has been specially devised for the campaign and will be delivered by CFU coaches. Throughout the competition Manchester United legends will also be making an appearance at the festivals to offer their tips and advice. This is a proven Manchester United Soccer School programme designed to build and test the skills of young footballers across the globe. As the competition evolves, two participants from each market, along with their respective coach, will advance to a two-day skills session in Trinidad and Tobago to experience one-on-one training with CFU and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England. Considered to be the highlight of the development initiative the two winners along with their coaches will travel to the world-famous football stadium to witness first hand Manchester United's final Premier League game of the season against Crystal Palace. This VIP experience will also include a visit to the Manchester United Museum and Tour, taking in the history of the club followed by a tour of the iconic stadium. Story continues Manchester United's Group Managing Director, Richard Arnold said, "Youth development is at the heart of this Club's traditions and success. The Manchester United Soccer Schools were developed to help spread this spirit to as many children as possible. In recent years our partners have been instrumental in helping the great work of our Soccer Schools coaches reach young people around the world. We're proud to work with Flow on this project." "Like Manchester United, Flow also has a deep sense of commitment to youth development as can be seen by our support of several programmes throughout the region that help to hone the skills of young footballers," said Garfield Sinclair, Flow's newly appointed President of the Caribbean . Sinclair also said, "We're therefore proud to work in partnership with Manchester United to offer this once in a lifetime experience to our talented youngsters across the region." The Caribbean Football Union's ( CFU ) President Gordon Derrick gave a ringing endorsement of The Ultimate Football Experience, as he added: "The CFU is proud to be a partner with Flow on this exhilarating and beneficial initiative. Hundreds of young footballers in 15 countries -- half of the CFU's membership -- will have the opportunity to compete, hone their skills, and, for the finalists, live the dream. I am confident that this partnership will bode well for the future of football in the region." The Ultimate Football Experience is one of several Manchester United and Flow partnership initiatives. In January, Flow hosted the FA Cup Caribbean Tour during which the Company gave football fans up-close and unprecedented access to football's most coveted trophy. The final leg of the tour culminated in the Cayman Islands, where Manchester United ambassador Dwight Yorke made an appearance . Cable and Wireless is Manchester United's telecommunications partner in the Caribbean . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Your first trade for Tuesday, March 14: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Chase (NYSE: JPM) . Brian Kelly was a buyer of Intel (NASDAQ: INTC) . Steve Grasso was a buyer of Citigroup (NYSE: C) . Guy Adami was a buyer of Goldman Sachs (NYSE: GS) . Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds. Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. More From CNBC Trading tech stocks after Intel/Mobileye deal Ackman to CNBC: 'I should have sold' Valeant earlier Valeant's biggest champion sells entire stake || Bitcoin plunges sharply and suddenly: (A bitcoin sign seen in a window in Toronto.Reuters/Mark Blinch)
Bitcoinplunged by more than $100 in a matter of minutes on Tuesday morning. The cryptocurrency was down about 1.5% at $1,260 a coin just after 6 a.m. ET before tumbling below $1,160 within 30 minutes. As of 1:22 p.m. ET it was down 2.1%, or $27, near $1,249 a coin.
While no headlines can be directly tied to the plunge, about two hours earlier a Bloomberg headline cited a People's Bank of China official as suggesting the recent bitcoin regulation wasn't temporary.
The PBOC recently announced it was cracking down on bitcoin trading, and China's largest bitcoin exchanges have since introduced aflat 0.2% fee on each transactionand announced ablockage of withdrawals.
Tuesday's sell-off could also be tied to nervousness over a coming Securities and Exchange Commission ruling. The SEC is expected to issue a ruling on whether it will approve at least one of thethree proposed bitcoin-focused exchange-traded fundsby a Saturday deadline.
The price of bitcoin has rallied 27% in 2017 after gaining 120% in 2016. Bitcoin has been thetop-performing currencyin each of the past two years.
(Investing.com)
More From Business Insider
• Bitcoin is extending its lead over gold
• Bitcoin climbs above gold for the first time
• Bitcoin climbs to a fresh record high || SEC denies a second application to list bitcoin product: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency. The SEC announced in a filing its decision denying Intercontinental Exchange Inc's NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset's price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss. "The Commission believes that the significant markets for bitcoin are unregulated," the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc's Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade. "We are reviewing the SEC's order and evaluating our next steps," said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment. Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. But after denial of the Winklevoss-proposed ETF, the digital currency's price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. (Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman) || Bitcoin is roaring back: Bitcoin is higher for a second straight day on Tuesday, trading up 6.5% at $1,110 a coin as of 2:13 p.m. ET. The cryptocurrency has rallied about 17% since Sunday's low, rebounding from a slump over the weekend that followed a Wall Street Journal report that the cryptocurrency's developers were threatening to set up a " hard fork ," or alternative marketplace for bitcoin. The new platform would be incompatible with the current platform, thus creating a split and two versions of the currency. That news sent bitcoin crashing 20% over the weekend to about $950 a coin, its weakest since January. Bitcoin (Investing.com) 2017 has been a volatile year for the cryptocurrency. It gained 20% in the first week of the year after soaring 120% in 2016 to become the top-performing currency for the second year in a row. Bitcoin then crashed 35% on news that China was going to consider clamping down on trading. But it managed to rip higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). Then, China's biggest exchanges said they were going to block withdrawals from trading accounts. Still, bitcoin put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on the Winklevoss twins' bitcoin exchange-traded fund . The SEC denied the ETF, sending the price crashing by 16%. Bitcoin, however, managed to quickly recover those losses. Two more SEC rulings are on the way, the next being March 30. Neither one is expected to pass. NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider I've written about a bunch of great watches, but this is the one I wear to work every day here's why Bitcoin just crashed 20% as the developers fight over its future Bitcoin could be on the edge of a cliff || Trump's trade-war mongering is starting to rattle Wall Street: President Donald Trump made international trade, and his skepticism thereof, a centerpiece of his campaign. Yet Wall Street, ever hopeful, saw those promises as bluster , choosing instead to focus on Trump's talk of corporate tax cuts and widespread deregulation. Now that Trump is in power, markets are starting to realize he has a lot more leeway to enact his trade agenda unilaterally than he does to act on the tax and regulatory fronts, where legislators and the judiciary will have a much greater say. trade laws (Peterson Institute for International Economics) That's causing some economists to question the wisdom of the recent run-up in stocks, which were specifically catapulted higher by bank shares rallying on the hopes of a swift erasure of the postcrisis Dodd-Frank rules. "Given President Trump's long-held views that the US has been losing out on foreign trade, the likelihood and consequences of a trade war are Top of Mind," Goldman Sachs economists wrote in a research note. "US action on China's currency policy and unilateral, targeted tariffs are likely, and China would respond proportionately." Trump has hired several ex-Goldman bankers as his top economic advisers. A look at Trump's key economic appointments more broadly has also put investors on alert for the possibility that the US will raise tariffs on trading partners like Mexico and China, unleashing retaliation with no clear end in sight. "The incoming administration has a protectionist bend," says David Doyle, an equities analyst at Macquarie Capital Markets Canada. Peter Navarro, an economics professor from the University of California at Irvine, has been appointed to lead a newly formed National Trade Council. Navarro "has had an aggressive stance towards China," Doyle says. "For example, two books he has written are entitled 'Death by China' and The Coming China Wars.'" Leaving aside the possible nightmare of an actual war, what would be the cost of a US trade war with major partners? If it escalated into a full-blown crisis, the damage would be difficult to tally. These are some of the proposals Trump made during his campaign. Story continues trump trade (Peterson Institute for International Economics) Economists at the Peterson Institute for International Economics gave it a try ahead of the US elections and found that a trade war would be deeply hurtful to US workers , "plunge the US economy into recession and cost more than 4 million private sector American jobs." Screen Shot 2017 02 13 at 8.44.00 AM (Peterson Institute for International Economics) Harvard economist Kenneth Rogoff offers a stark warning to the Trump administration: "The US cannot win a trade war with China, and any victory will be Pyrrhic. The US needs to negotiate hard with China to protect its friends in Asia and deal with the rogue state of North Korea. And the best way to get the good deals Trump says he seeks is to pursue a more open trade policy with China, not a destructive trade war." NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Bitcoin is zooming higher Trump's push to roll back financial regulation is a 'big mistake' that threatens a new financial crisis DEUTSCHE BANK: Trump could name China a 'currency manipulator' in the coming weeks || Bitcoin Crash Creates Golden Opportunity: Ive been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasnt been wrong just my timing. And now, with gold prices bouncing off $1,200 and last weeks Bitcoin debacle Im taking another stab at it. The Bitcoin debacle Im referring to is last weeks decision by the SEC to reject the Winklevoss Twins proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SECs decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so Im including it when I look for stock ideas. Of course theres one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoins value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and golds move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. Ive put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold (AGI) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver (ASM) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver (FSM) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver (GPL) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Great Panther Silver Limited (GPL): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Alamos Gold Inc. (AGI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
Razzleton DEPOSIT AND WITHDREW TO BITCOIN: http://youtu.be/zQhsQyr1-gY?a на @YouTube || NASA crowdsources better ways to poop in spacesuits #btc #herox #nasa #poop #science #space #spacepoop http://bit.ly/2lTnWVS #ResidualBi… || Trade $USDJPY using Bitcoin. Max leverage 200. #Forex | https://goo.gl/6mnN2R pic.twitter.com/B7zK3D9MhL || PSA:A company called OneCoin compares itself to bitcoin just launched its market platform. It has >2 million users… http://dlvr.it/NP2MzS pic.twitter.com/A5yR9F7XvA || #DigitalNote #XDN $0.000111 (0.10%) 0.00000011 BTC (-1.46%) || #Bitcoin -0.61%
Ultima: R$ 3698.00 Alta: R$ 3730.00 Baixa: R$ 3560.70
Fonte: Foxbit || Leading Chinese #Bitcoin Exchange #BTCC: Crypto Withdrawals ‘Will Resume’ March 15: BTCC, the largest Bitcoin… http://dlvr.it/NNzY0w pic.twitter.com/sXwVzjjiuk || $1199.58 at 02:00 UTC [24h Range: $1143.91 - $1208.00 Volume: 7159 BTC] || The Big Mistakes Enterprises Are Making on Blockchain: The Big Mistakes… https://goo.gl/fb/zaOYqP #bitcoin #btcb0t || Watch TV channel for free with iptv android apps
https://goo.gl/AZ0afu
#IPTV #channel5 #bitcoin #Hacking #sports #BIGDDL #webhosting
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Trend: up || Prices: 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-06-17]
BTC Price: 20471.48, BTC RSI: 22.44
Gold Price: 1835.60, Gold RSI: 46.62
Oil Price: 109.56, Oil RSI: 42.02
[Random Sample of News (last 60 days)]
Terra’s UST Rebounds to $0.92 After Depegging by 40% LUNA's Crash Rocks Terra Ecosystem: Terra’s stablecoin UST, the poster child for decentralized assets tied to the US dollar, rebounded sharply on Tuesday as it climbed to $0.92 after plunging 40% below its dollar peg, to $0.60, on Monday.
LUNA remains in free-fall, javing lost half its value in the last 24 hours inmid-morning tradingLondon time.
UST has been the most successful example of an algorithmic stablecoin, or a stable asset which depends on an internal algorithm that manages its supply and demand to maintain its peg. Developers have tried to create these self-regulating assets for years, with many crashing and burning along the way.
In Terra’s case, 1 UST can always be redeemed for $1 worth of LUNA. This mechanism incentivizes arbitrageurs to buy UST when it trades under $1, redeem it for $1 worth of LUNA, and sell the LUNA for a profit. Conversely, when UST trades above $1, investors can mint 1 UST with $1 worth of LUNA and sell the UST for a profit.
A crisis of confidence has ensnared UST as investors are exiting their holdings en masse.
UST is trading at 66 cents on the dollar with nearly $1.7B in trading volume on the centralized exchange Binance alone.
The trouble began on May 7 when a few large investorssoldmore than $500M in UST positions on Anchor, thepopular savings protocolthat serves as the largest supply sink for UST.
Deposits onAnchorhave fallen by half since Friday from $14B to $7B.
At the time, Terrabrushed offconcerns, but the market wasn’t so sure as LUNA, the token backing UST, started to deepen its slide.
The steady depletion of liquidity from the UST Curve pool as users swapped UST for other stablecoins can be seen in thisDune dashboard.
Earlier today, the Luna Foundation Guard (LFG) deployed $1.5B of its reserves in an attempt to defend the UST peg. According to theproject, $750M worth of Bitcoin and $750M have been loaned to market makers to support peg restoration efforts.
Despite these moves, investors began to panic after the market capitalization of LUNAfell belowthat of UST just after 1pm Eastern time, meaning there is simply not enough value in LUNA to back all the UST in circulation, not considering the recently constructed LFG reserve.
What does that mean? If the circulating UST is worth more than the market cap of LUNA, it’s not possible for all UST holders to redeem their tokens for $1 worth of LUNA if they wish to. The resulting stampede for the exits is the dreaded ‘bank run’ scenario that has laid waste to numerous algorithmic stablecoins including the infamousimplosion of Iron Financelast year.
The last time this happened was in May 2021, and USTbriefly de-peggedbefore recovering.
On a bloody day in crypto markets, Terra also came under fire forallegedly sellingBitcoin and Ether and compounding a bad situation.
“UST was always a systematic risk for crypto. If the peg is not restored through natural demand LFG needs to tap into their reserves to prop it up themselves by selling BTC and buying UST,” crypto traderCantering Clarktold The Defiant.
“So UST drops, the market freaks out because they know what it means for LFG Bitcoin reserves, and a feedback loop creates a ton of downward pressure as people panic.”
The carnage also resulted in a string ofliquidationsonAbracadabra’s Degenbox, which allows investors to leverage the yield offered by Anchor.
Terra says that its‘A-Team’has been assembled to spearhead a recovery.
Owen Fernaucontributed reporting.
Read the original post onThe Defiant || 4 Top Stock Trades for Tuesday: ARKK, AMC, PLTR, UPST: Guys and gals, please be careful out there. When the volatility ratchets up like this, it can be a very difficult trading environment. Risk is of the utmost importance. We should be focused on preserving capital first and on profits second. With all of this in mind, let’s look at some top stock trades now. Top Stock Trades for Tomorrow No. 1: Arkk Innovation Fund (ARKK) Monthly chart of ARKK Click to Enlarge Source: Chart courtesy of TrendSpider The Arkk Innovation Fund (NYSEARCA: ARKK ) has been a disaster so far this year. Now working on its seventh straight monthly decline, the bulls have been badly beaten up. A good trading friend of mine has been pointing out the $40 to $50 area as a potential support zone for months now . Specifically, he has been looking at the support side of that zone and we’re just about there now. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Will ARKK find its footing? If it does and we can begin to push higher, $50 is on the table. That’s followed by the 50-day and 10-week moving averages in the mid-$50s. 7 Defensive Dividend Healthcare Stocks to Buy Now If $40 doesn’t hold as support, then look at $35. That area was significant support in the past — including in Q4 2018 and during the Covid selloff in March 2020. Top Stock Trades for Tomorrow No. 2: AMC Entertainment (AMC) Top stock trades for AMC Click to Enlarge Source: Chart courtesy of TrendSpider Next up is AMC Entertainment (NYSE: AMC ), which reports earnings after the close. Surprisingly, the stock was able to pull off a massive squeeze in late March, which allowed AMC stock to more than double. Since then though, shares have fallen back to the key $12.50 zone. Shares have been finding support in this zone all year. It was also a major breakout zone in 2021. Basically, we just want to see if holds again. If it doesn’t, sub-$10 seems to be on the menu. If it does hold and AMC stock trades higher, I would love to see it reclaim the 200-day moving average. On the upside, $20 is a key area. Above that could unlock some serious room higher, but it doesn’t seem likely. Story continues Top Stock Trades for Tomorrow No. 3: Palantir (PLTR) Top stock trades for PLTR Click to Enlarge Source: Chart courtesy of TrendSpider Palantir (NYSE: PLTR ) is getting demolished after reporting earnings, down about 21% on the day and hitting all-time lows. Keep in mind, this has been the story for growth stocks for a while now. They have been getting demolished as rising rates and bearish momentum have ravaged these holdings. On the downside, let’s keep an eye on the $6.50 to $6.75 area. That’s where the 161.8% downside extension comes into play. 4 Blue-Chip Stocks to Buy for May 2022 On the upside, however, watch $9. This was the prior support zone in the opening days when Palantir first began publicly trading. Top Trades for Tomorrow No. 4: Upstart Holdings (UPST) Daily chart UPST stock Click to Enlarge Source: Chart courtesy of TrendSpider Upstart (NASDAQ: UPST ) has tried rallying so many times but has been hammered each time. Like AMC, it will report tonight. If we get a bearish post-earnings reaction, the 2022 lows are in play near $71. Below that and the gap-fill near $62 really sticks out. Lastly, the $39 to $42 area could be a potential landing zone for what’s likely to be a volatile holding in the short term. On the upside, though, the $100 level and declining 50-day moving average are key. Above that is the $116 to $117 zone. Above that opens the door all the way up to $150. On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post 4 Top Stock Trades for Tuesday: ARKK, AMC, PLTR, UPST appeared first on InvestorPlace . || Strong Insider Buying Puts These 3 Stocks in Focus: Corporate insiders give us one of the clearer signals available in the stock markets. The insiders are company officers, with ‘inside’ positions that give them greater access to company plans and resources, the very facts that will impact stock prices. Governmental regulators require insiders to publish their trades in a timely manner, as a way of avoiding their having an undue advantage, and retail investors can use tools like the Insiders’ Hot Stocks to follow these trades. We’ve gotten the process started, using the tool to pull up the latest data on three stocks that insiders have been scooping up. The buys are notable for their magnitude – these insiders are laying out six figures or more on their own firms’ shares, and that’s not a move taken lightly. All three are also considered Moderate or Strong Buys by the consensus of the Wall Street analysts, and are projected to pick up steam in the months ahead. Applied Blockchain ( APLD ) Applied Blockchain, as its name suggests, is heavily involved in the bitcoin mining segment; in fact, the company builds and operates the next-gen data centers that power the North American bitcoin mining industry. In the first half of this year, Applied Blockchain has made some important moves to increase its footprint in the industry. In January, the company announced a partnership with Antpool Capital Asset, a provider of blockchain mining solutions, that will allow the two signatories to pool resources in the development of 1.5 gigawatts worth of new datacenter hosting capacity by the end of 2023. And in May of this year, Applied Blockchain held the formal opening ceremonies of its 100 megawatt facility in Jamestown, North Dakota. The facility is currently operating at 83 megawatts capacity, and is scheduled to fill out the remainder of its capabilities by the end of this calendar year. Blockchain data centers, bitcoin mining, and their power requirements don’t come cheap, and Applied Blockchain raised capital in April of this year through its IPO. The company originally filed for a $60 million public offering; in the event, which saw the APLD ticker debut on the NASDAQ on April 13, the company put 8 million shares on the market for $5 each, raising $40 million in gross proceeds and realizing $36.1 million after deducting the underwriters’ costs. Story continues In the last two weeks of May, Applied Blockchain saw a series of major insider buys from company CEO and Chairman Wes Cummins. Cummins’ purchases totaled over 770K shares, and he paid out more than $2.43 million on the buys. Craig-Hallum's 5-star analyst George Sutton is also a fan of Applied Blockchain. He writes, "We believe APLD represents an opportunity to invest in Bitcoin Network growth with fiat economics in a structure which will likely favor returning capital to shareholders in a REIT structure in the long-term." "Based on our estimates, 1.5 GW would translate to $830M in revenues and an EBITDA margin that should start in the low 30s and then steadily grow towards 40% as APLD continues to scale its operations. For each 100 MW of hosting, APLD should earn site level EBITDA of ~$12M, which should scale towards $20M over time, and a payback period of < 3 years,” Sutton added. In line with these comments, Sutton rates APLD stock a Buy, and his $10 price target indicates potential for ~106% upside in the year ahead. (To watch Sutton’s track record, click here ) The unanimous Strong Buy consensus rating, based on 6 analyst reviews just since the IPO, shows that Wall Street has noticed this company – and agrees with the bulls. The stock is selling for $4.86, and its $8.17 average price target suggests a 12-month upside of 68%. ( See APLD stock forecast on TipRanks ) Rivian Automotive ( RIVN ) Next up is Rivian Automotive, a company that is working to turn the emerging electric vehicle (EV) industry upside down. Every new firm in a new sector wants to be the great innovator, but Rivian is approaching the EV issue from a different angle, one that has potential to make a real difference. The company is designing a flexible EV chassis, with the electric drive system built in. Fittings are pre-installed for various battery systems, to fit the needs of the end-vehicle, and the chassis can be modified to feature a wide range of body types and seating arrangements. Rivian currently has three vehicle models in early production stages and available for pre-order: the electric delivery van (EDV) for the commercial market, and two consumer market vehicles, the RT1, an all-electric light pickup truck for work or recreational use, and the RS1 electric SUV. The latter two vehicles have both on- and off-road capability. As of May 9, the company had received approximately 90,000 pre-orders and produced some 5,000 vehicles. All of Rivian’s vehicles are designed with a high level of interchangeable parts, for greater efficiency and cost control on the factory floors. Rivian also entered, at the end of last year, a partnership with Amazon. This agreement is supporting the development and initial production of the EDV – and Amazon has ordered 100,000 vehicles from Rivian. During the first quarter of this year, Rivian posted a $1.59 billion net operating loss, along with $95 million in revenue. The revenue total came in well below the $130 million forecast. The company announced that it received 10,000 new vehicle orders in the latter part of the quarter, after a price increase in March, and that its ongoing production ramp-up is proceeding smoothly. The company is on track to build 25,000 vehicles this year. On the insider front, Jay Flatley of Rivian’s Board of Directors, has put his money where his mouth is, buying 40,000 shares for more than $1.17 million. Morgan Stanley analyst Adam Jonas sees both positives and negatives in Rivian and sums them up for investors – while taking a long-term optimistic stance: “We sense a bit of a mismatch in growth vs. spending at Rivian that should be resolved through execution and improved transparency by year-end. The street still forecasts a company spending to be a highly vertically integrated Tesla competitor with 1 to 2mm units of capacity by end of decade. The forced-reality may be Rivian focusing on R1/EDV at Normal for the next few years before establishing a more functioning supply base from which it can unlock future opportunities.” Jonas rates the stock an Overweight (i.e. Buy), and his $60 price target predicts a 98% upside for the year ahead. (To watch Jonas’ track record, click here ) Overall, there are 15 recent analyst reviews here, including 9 Buys and 6 Holds, for a Moderate Buy consensus rating. RIVN's average price target of $49.50 suggests ~64% upside from the current share price of $30.25. ( See RIVN stock forecast on TipRanks ) Casa Systems ( C ASA ) Last but not least is Casa Systems, a small-cap firm in the telecom sector. Casa is a designer and maker of advanced ultra-broadband solutions for the ongoing 5G rollout, providing hardware equipment for mobile, cable, fixed, and converged service providers. The company’s product line allows broadband network enterprise customers the agility and adaptability to deliver more efficient 5G service. Casa’s customer base includes such large names as SKtelecom, Taiwan Mobile, Yes, Verizon, and AT&T. The full list includes more than 475 firms across 70 countries. Despite its strong position in the industry, Casa failed to impress with its 1Q22 financial results. The company reported top line revenue of $64.4 million, missing the forecast by a wide margin of 26%. Year-over-year, revenues were down 38%. EPS came in at a net per-share loss of 35 cents; this compared poorly to the 11-cent EPS profit in the year-ago quarter. Casa stated that it is suspending its 2022 full-year guidance, at least temporarily. The company attributed the decline in revenues and earnings to continuing supply chain difficulties. On the positive side of the ledger, however, Casa also reported a positive cash flow of $18 million in the quarter, and increases in the work backlog and sales pipeline. Looking at Casa’s insider trades, we find that over the past few weeks William Styslinger, a member of the Board, spent ~$580K buying 139,923 shares in the company. Northland analyst Tim Savageaux , rated 5-stars at TipRanks, notes Casa’s recent difficulties but still comes out on the bullish side for the stock. “Given the company's scale we do believe a range of established and emerging competitors would find the company to be of strategic interest, and view this as lending support to valuation as the company undertakes this software transition and seeks to improve supply chain management and overall execution. Despite near term losses and uncertainty that have drove similarly situated peers historically toward the 1X revenue level or the $3.00 range, the company's traction with VZ and engagement with other Tier 1 operators, as well as the strategic factor, likely supports a bottom at a higher level,” Savageaux explained. Savageaux’s comments back up his Outperform (i.e. Buy) rating, while his $6 price target implies the stock has a 38% upside ahead of it. (To watch Savageaux’s track record, click here ) This small-cap telecom player features a 3 to 1 split in its analyst reviews, favoring the Buys over Holds and supporting a Strong Buy consensus rating. The stock is selling for $4.34 and has a $7.33 average target, suggesting ~69% upside from that level. ( See CASA stock forecast on TipRanks ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy , a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer : The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || US stocks slip as investors assess tech warnings and latest jobless claims data: OLIVIER DOULIERY/AFP via Getty Images US stocks fell Thursday after Microsoft cut its Q4 revenue and earnings guidance. Wall Street's main indexes were on course for a third consecutive session of losses. Oil prices fell with the market watching developments from OPEC and Saudi Arabia. Stocks moved lower Thursday as a downbeat update from Microsoft offset upside support the market found from a pullback in oil prices. The Nasdaq Composite and the S&P 500 turned lower after Microsoft cut its fourth-quarter revenue and earnings guidance because of unfavorable currency exchange rates. Wall Street's three major equity indexes had been on course for their first win in three sessions. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday: S&P 500 : 4,091.24, down 0.24% Dow Jones Industrial Average : 32,730.80, down 0.25% (82.43 points) Nasdaq Composite : 11,982.45, down 0.1% Investors had earlier appeared to find some relief in seeing oil prices fall after Saudi Arabia signaled to Western allies it's ready to boost oil production if Russia slashes its output amid wartime sanctions. Oil moved lower following the report about Saudi Arabia from the Financial Times . But prices recovered from lows with OPEC holding another monthly production meeting on Thursday. Ahead of Friday's US jobs report, ADP said private-sector firms added 128,000 payrolls in May. The median estimate from economists surveyed by Bloomberg was an increase of 300,000 private payrolls. The May amount marks the smallest gain of the pandemic recovery. Separately, weekly unemployment claims fell by 11,000 to 200,000, with the Bloomberg estimate calling for claims of 210,000. Oil prices fell. West Texas Intermediate crude lost 0.6% to $114.59 per barrel. Brent crude, the international benchmark, fell 0.6% to $115.58. Gold edged up 0.2% to $1,850.70 per ounce. The 10-year yield fell 2 basis points to 2.91%. Bitcoin gained 1.4% to $30,064.41 Read the original article on Business Insider || Market Wrap: Fed Hikes Rates at Highest Level Since 1994, Bitcoin Rallies After: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Bitcoin’s ( BTC ) price fluctuated after the Federal Reserve announced further monetary tightening on Wednesday, falling to as low as $20,270 in the minutes after the Fed's statement. But roughly an hour after the announcement, the cryptocurrency was changing hands at $21,444. In a widely anticipated move, the central bank announced that it will raise the fed-funds rate, the interest rate at which depository institutions trade balances held at the central bank, by three-quarters of a percentage point, or 75 basis points. Fed Chairman Jerome Powell said that members of the Federal Open Markets Committee said the inflation surprise on the upside warranted “strong action at this meeting” rather than waiting another six weeks for the FOMC's next gathering. “We decided we needed to go ahead, and so we did,” Powell said. “We came to the view that we’d like to do a little more front-end loading on that.” The rate hike is the Fed's highest since 1994 and underscores the inflationary pressure on the U.S. economy.. The fed-funds rate will rise to a range of 1.5%-1.75%. In the long term, committee members expect the benchmark interest rate to go up to 3.4% this year and to 3.8% in 2023, according to the “dot plot,” a pictorial representation of Fed officials' projections for the central bank's key short-term interest rate published on a quarterly basis. Bitcoin fell over 5% following the decision but rebounded during Powell’s press conference, where he said that the Fed would boost rates by a half point or three-quarters of a point at each of its next two meetings. “Markets loathe uncertainty and unpredictability,” said Josh Olszewicz, head of research at Valkyrie. “Digital assets have significantly correlated with U.S. financial markets in recent months, both of which have continued to bleed lower. A decrease in downward volatility will only likely be achieved with a pause or reversal of the current Fed policy and direction.” Story continues Equities also moved up following the Fed statement. The S&P 500 rose 2.1%, and the Nasdaq gained 3.3%. Latest prices ● Bitcoin (BTC): $21579, −2.53% ● Ether (ETH): $1170, −2.77% ● S&P 500 daily close: $3790, +1.46% ● Gold: $1835 per troy ounce, +1.39% ● Ten-year Treasury yield daily close: 3.40% Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Tether Sees New Wave of Redemptions as Fear of Market Contagion Spreads By Krisztian Sandor Tether (USDT) saw $1.6 billion in redemptions in two days. (CoinMarketCap) Investors pulled about $1.6 billion from Tether's dollar-pegged USDT stablecoin over the past 48 hours, reducing its circulating supply to $70.8 billion, the lowest amount since last October, according to price tracker CoinGecko. Tether's USDT has a different financial structure from the Terra blockchain's UST " algorithmic stablecoin ," which collapsed last month. But USDT has long suffered from investor doubts about the assets backing it and whether redemptions would be honored in a full-blown crisis. "Confidence in cryptos remains depressed and some traders are worried that Tether could suffer a similar fate as Terra's UST stablecoin," Edward Moya, a senior market analyst at Oanda, said. "Too many institutional crypto investors are down massively, and they are worried that if this part of the crypto ecosystem collapses, Tether will crash." Altcoin roundup Tether dismisses commercial paper rumors: Tether denied claims that its commercial paper portfolio is 85% backed by Chinese or Asian commercial paper. The firm also denied having exposure to Three Arrows Capital, the beleaguered hedge fund, and said it liquidated its position without a loss in crypto lender Celsius Network. Read more here. All eyes on staked ether: The discount on locked-up ether on Lido (stETH) compared with ether ( ETH ) widened to a record high of 8% as large holders including Celsius and Three Arrows Capital have been selling their tokens potentially to meet margin calls. The “ depeg ” is leading to concerns about a potential ripple effect on crypto lending markets. In the short term, there will be tremendous selling pressure, but stETH is not Terra – it is highly unlikely to fall to zero. Read more here. NFT-home listing gone wrong: A Manhattan landlord listed his office building as a non-fungible token on OpenSea two weeks ago. The asking price was $29 million, denominated in ether. ETH has plummeted 40% since then the listing, and the price for the building has dropped $12 million. The owner says the building will be relisted in the coming days to adjust for the price drop. Read more here. Relevant insight Uniswap Labs Hires Former NYSE President to Be Adviser : Stacey Cunningham was the stock exchange's first female president. ECB Would Limit Digital Euro to Maximum 1.5T, Says Fabio Panetta : The central bank's executive board member believes few people understand what a digital euro is because "it's complicated." Binance, Kraken and Polygon Accelerate Hiring in Response to Industry-Wide Job Cuts : Coinbase, BlockFi and Crypto.com are among the crypto-related companies announcing layoffs this week. Celsius Troubles, UST Collapse May Help Crypto Long Term, FSInsight Says : The firm sees good buying opportunity now for bitcoin. Kevin O’Leary Says ‘Panic Event’ Is Needed Before Crypto Bottoms : The strategic investor spoke to CoinDesk ahead of crypto marketplace WonderFi's move to the Toronto Stock Exchange. Other markets Most digital assets in the CoinDesk 20 ended the day lower. Biggest Gainers Asset Ticker Returns DACS Sector Cosmos ATOM +10.0% Smart Contract Platform Polkadot DOT +8.6% Smart Contract Platform Cardano ADA +8.4% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Ethereum ETH −2.9% Smart Contract Platform Bitcoin BTC −2.3% Currency Polygon MATIC −0.2% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. || NY bill aims to limit crypto miners using fossil fuel-generated power: (Reuters) -The New York State Legislature has passed a bill that would impose a two-year moratorium on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies like Bitcoin, but Governor Kathy Hochul's office on Monday said she had not yet decided whether to sign it. Cryptocurrency mining requires a lot of electricity to power computer systems that compete to solve mathematical puzzles to validate blockchain transactions. The miner who solves the puzzle first is rewarded with cryptocurrency. The State Assembly passed the bill in April and the Senate passed it late last week. The governor's office said on Monday she was still weighing whether to sign the bill. "There is a balancing act involved here, very much a balancing act," the governor said in a statement on Monday. "We have to balance protection of the environment, but also protect the opportunity for jobs that go to areas that don't see a lot of activity, and making sure that the energy that's consumed by these entities, is managed properly." The bill is part of the state's effort to reduce statewide greenhouse gas emissions by 85% by 2050. Cryptocurrency mining operations "are an expanding industry in the State of New York" that "will greatly increase the amount of energy usage" in the state, according to the bill. To prevent cryptocurrency mining from increasing greenhouse gas emissions, the bill would impose a moratorium on air permit issuance and renewal for an electric generating facility that utilizes a carbon-based fuel and provides energy used by crytocurrency mining operations. (Reporting by Scott DiSavino; Editing by David Gregorio) View comments || Dow soars 932 points as Fed raises rates but Powell rules out bigger hikes at future meetings: Fed Chairman Jerome Powell. Federal Reserve Stocks soared Wednesday after Fed Chair Jerome Powell said a 75-basis-point rate hike isn't on the table. The remark followed a half-point hike to a range of 0.75%-1% that marked the biggest increase since 2000. The Fed also detailed plans to shrink its balance sheet, eventually ramping up to a reduction of $95 billion a month. US stocks soared after Federal Reserve Chairman Jerome Powell said the central bank's half-point rate hike on Wednesday wouldn't be followed by bigger increases in upcoming policy meetings. "A 75-basis-point increase is not something the committee is actively considering," he said during a briefing. That came after the Fed met widely held expectations for a 50-basis-point hike that marks the biggest increase since 2000. Benchmark rates will go up to a range of 0.75%-1%, adding to the Fed's quarter-point increase in March that kicked off the first tightening cycle in four years. The central bank also detailed plans to shrink its balance sheet, eventually ramping up to a reduction of $95 billion a month. Here's where US indexes stood at the 4:00 p.m. market close on Wednesday: S&P 500 : 4,300.39, up 2.99% Dow Jones Industrial Average : 34,061.58, up 2.82% (932.79 points) Nasdaq Composite : 12,964.86, up 3.19% Policymakers are stepping up their efforts to cool the economy as consumer price inflation accelerated to 8.5% in March, the highest rate since December 1981. But Wall Street is also worried about the Fed's ability to engineer a "soft landing" that doesn't sink the economy, which has shown evidence of strain lately. ADP said Wednesday that private employers in the US added 247,000 jobs in April , significantly less than the 395,000 expected in a Bloomberg survey of economists. April's figure reflects slower growth from March and marks the smallest monthly gain since August. But JPMorgan CEO Jamie Dimon said Wednesday that the war in Ukraine poses a bigger risk to the global economy than higher interest rates do . Story continues Meanwhile, retail traders have been plowing less money into US equities , and the slowdown in investment could last through part of this summer, research firm Vanda said. Oil prices jumped after the European Union unveiled a long-awaited proposal that would phase out imports of Russian crude in six months . But Hungary vowed to block the ban unless it gets an exception. West Texas Intermediate crude leapt 5.4% to $107.93 per barrel. Brent crude, the international benchmark, surged 5.2% to $110.41. Lyft suffered its worst single-day drop ever , plunging more than 30% after the ride-hailing company gave disappointing second-quarter guidance. Gold rallied 0.7% to $1,883.60 per ounce. The 10-year yield reversed earlier gains, dropping 3 basis points to 2.93% after climbing back above 3%. Bitcoin gained 5.9% to $39,868. Read the original article on Business Insider || With 11.1% CAGR, Cryptocurrency Market Size Worth USD 1902.5 Million in 2028: According to Fortune Business Insights, the global cryptocurrency market size is projected to reach USD 1902.5 million in 2028, at a CAGR of 11.1% during forecast period; Growing Adoption of Digital Currencies to Augment Market Growth
Pune, India, May 05, 2022 (GLOBE NEWSWIRE) -- The globalcryptocurrency market sizeis likely to reachUSD1902.5 millionby 2028, exhibiting a CAGR of 11.1% during the forecast period. In its report titled “Cryptocurrency Market Size, Share and Growth”, Fortune Business Insight mentions that the market stood at USD 826.6 million in 2020.
Cryptocurrency is a system of virtual currency exchange that is aimed to eliminate financial intermediaries. It offers low ownership costs, quicker and safer transactions internationally through a decentralized record storing platform called ‘distributed ledger’. The digital currency exchange methods are evolving swiftly. The market is gaining extreme traction due to several factors. For instance, the amalgamation of blockchain technology in digital currency ensures efficient and decentralized transactions. Moreover, major firms are investing in blockchain systems and collaborating with other firms to provide quality services to their users. For instance, Qtum Chain Foundation (Singapore) collaborated with Amazon Web Services (AWS) China to deploy blockchain systems for the AWS cloud.
Competitive Landscape
Key Players to Focus on Introduction of New Services to Strengthen the Cryptocurrency Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:
March 2021– Visa Inc. aims to introduce crypto as a direct payment. With this key initiative, the company aims to accept cryptocurrencies as a payment method for the finance industry.
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Report Scope & Segmentation
[{"Report Coverage": "Forecast Period", "Details": "2021 to 2028"}, {"Report Coverage": "Forecast Period 2021 to 2028 CAGR", "Details": "11.1%"}, {"Report Coverage": "2028 Value Projection", "Details": "USD 1902.5 Million"}, {"Report Coverage": "Base Year", "Details": "2020"}, {"Report Coverage": "Cryptocurrency Market Size in 2020", "Details": "USD 826.6 Million"}, {"Report Coverage": "Historical Data for", "Details": "2017 to 2019"}, {"Report Coverage": "No. of Pages", "Details": "140"}, {"Report Coverage": "Segments covered", "Details": "Component, Type, End-Use and Geography"}, {"Report Coverage": "Cryptocurrency Market Growth Drivers", "Details": "Focus on Mitigating Financial Crisis and Regional Instability Drives the Demand for Virtual Currency"}, ["North America to Dominate Backed by Presence of Prominent Players"], ["Key Players to Focus on Introduction of New Services to Strengthen the Market Growth"]]
The demand for crypto has increased due to rising investments in venture capital. Additionally, the increasing popularity of digital assets such as bitcoin and litecoin is likely to accelerate the market in upcoming years. Furthermore, it has been seen that the digital currency is also used in the integration of blockchain technology to get decentralization and control efficient transactions. Thus, advantages such as these are also encouraging people to invest in crypto. For instance, In October 2018, Qtum Chain Foundation made a partnership with Amazon Web Services (AWS) China to use blockchain systems on the AWS cloud. With this collaboration, AWS will be able to help its users in using Amazon Machine Images (AMI) to develop and publish smart contracts easily and efficiently.
The COVID-19 pandemic adversely affected the world economy. However, the relationship between Bitcoin and the equity market expanded amid pandemic. For example, in March 2020, the price of Bitcoin declined and went below USD 4,000 after a decline in the S&P Index in the U.S. Thus, as the Initial Coin Offering (ICO) market crashed, blockchain companies are emerging as major alternative to raise investment capital.
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What does the Report Provide?
The cryptocurrency market report offers in depth analysis of various factors, which are influencing the market growth. Additionally, the report provides insights into the regional analysis of different regions. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration that contribute in boosting the market.
Market Segmentation:
By component, the market is bifurcated into hardware, and software. By type, it is divided into bitcoin, ether, litecoin, ripple, ether classic, and others. By end-use, it is divided into trading, E-commerce and retail, peer-to-peer payment, and remittance.
Based on end use, the trading segment held the cryptocurrency market share of 42.8% in 2020, because it focuses on crypto solutions that are used for trading such as Pionex, Cryptohopper, Bitsgap, Coinrule, and others.
Lastly, in terms of geography, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa and Latin America.
Drivers and Restraints
Focus on Mitigating Financial Crisis and Regional Instability Drives the Demand for Virtual Currency
In recent times, financial disaster is one of the primary issues that occurs in the conventional banking system. This financial instability disrupts the economy by lowering the value of money. For instance, ICICI bank of India, in the year 2008, confronted the Lehman brother crisis, which hugely impacted the nation’s economy. But with using bitcoins, and other cryptocurrency, such situations of economic downfall can be avoided. Therefore, Cryptocurrencies are emerging as alternative options in the regions with unstable economical structure, and this has been a major driving factor for the global market growth.
Increasing Popularity and Adoption of Bitcoin to Augment Cryptocurrency Market Growth
Being the most famous and highly adopted digital currency across the world, Bitcoin is expected to boost the global market due to its wide acceptance. Moreover, digital currency poses no threat amidst a financial crisis. Their value is universally balanced, which is driving its demand in economically unstable structural regions. Furthermore, some banks have also started supporting cryptocurrency payments in some countries, which is expected to significantly boost the market growth. For instance, the People’s Bank of China and the Eastern Caribbean Central Bank adopted a digital currency as an exchange medium.
The launch of new cryptocurrencies is also expected to augment market growth. For instance, the launch of Dogecoin gained immense popularity and is constantly growing ever since its launch.
However, the misuse of digital currency for illegal uses like money laundering, tax evasion, etc., are expected to restrain the market growth.
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Regional Insights
North America to Dominate Backed by Presence of Prominent Players
North America is expected to remain at the forefront and hold the largest position in the market during the forecast period. This is because in most parts of the region bitcoins have become a medium of exchange for tax purposes rather than the actual currency. Although these are not legally regulated by the government, still many of the countries in the region are focused on using digital currencies. The region’s market stood at USD 273.0 million in 2020.
Asia Pacific is expected to showcase significant cryptocurrency market share in upcoming years, owing to several technological developments and acceptance of virtual currency for some platforms within Japan and Taiwan. Additionally, the strategic collaborations, partnerships by key players are also fueling the regional market. For instance, in January 2020, Z Corporation, Inc. and TaoTao, Inc. collaborated with the financial service agency to widen the crypto market by confirming regulatory compliance in the Japanese market.
With countries like UAE and Dubai as the top blockchain developers in the region and growing acceptance of digital currency in the area, the Middle East & Africa is expected to witness considerable growth in the forthcoming years.
Major Players Profiled in the Market Report:
• Bitmain Technologies Ltd. (Beijing, China)
• Xilinx, Inc. (California, U.S.)
• Intel Corporation (California, United States)
• Advanced Micro Devices, Inc. (California, U.S.)
• Ripple Labs, Inc. (California,U.S.)
• Bitfury Group Limited. (Amsterdam,U.S.)
• Ledger SAS (Paris, France)
• Nvidia Corporation (California,U.S.)
• BitGo (California,U.S.)
• Xapo (Zürich, Switzerland)
Quick Buy - Cryptocurrency Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/100149
Major Table of Contents:
• Global Cryptocurrency Market Key Players Share Insights and Analysis, 2020
• Key Market Insights and Strategic Recommendations
• Companies ProfiledOverviewKey ManagementHeadquarters etc.Offerings/Business SegmentsKey Details(Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent Developments
• Annexure / AppendixGlobal Cryptocurrency Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028By Component (Value)HardwareFPGAASICGPUOthers (Paper Wallet, Web Wallet, Etc.)SoftwareMining SoftwareExchanges SoftwareWalletPaymentOthers (Vaults, Encryption, Etc.)By Type (Value)BitcoinEtherLitecoinRippleEther ClassicOthers (Dogecoin, Moneor, Dash, Etc.)By End-Use (Value)TradingE-commerce and RetailPeer-to-Peer PaymentRemittanceBy Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaNorth America Cryptocurrency Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028By Component (Value)HardwareFPGAASICGPUOthers (Paper Wallet, Web Wallet, Etc.)SoftwareMining SoftwareExchanges SoftwareWalletPaymentOthers (Vaults, Encryption, Etc.)By Type (Value)BitcoinEtherLitecoinRippleEther ClassicOthers (Dogecoin, Moneor, Dash, Etc.)By End-Use (Value)TradingE-commerce and RetailPeer-to-Peer PaymentRemittanceBy Country (Value)United StatesBy End-UseCanadaBy End-Use
TOC Continued…!
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Email:[email protected] || 3 Nasdaq Stocks to Buy Now for Growth: • Nasdaqstocks have come under pressure this year
• Incyte(INCY): Thebiopharmaceutical company expects continued revenue growth from its flagship drug Ruxolitinib after the FDA approval for additional treatments
• Roku(ROKU): TheTV streaming platform will benefit from multi-year agreements with entertainment giants
• First Trust Nasdaq Semiconductor ETF(FTXL):Provides exposure to select semiconductor companies that offer value and growth potential
Source: Shutterstock
Since the beginning of 2022, theNasdaq Compositehas fallen around 18%, while theS&P 500 Indexis down roughly 10%. In other words, tech shares, which were among the darlings of the pandemic, have lost some of their appeal in the face of rising interest rates.
Wall Streetis currently debating how Nasdaq shares, especially tech stocks, can be affected in a high-inflation and rising-rates environment. The Federal Reserve (Fed) is expected to raise interest rates, possibly by over 1% in the coming weeks.
For instance,CNBCrecentlyreported, “… tech companies could be hurt the most by the Fed’s hiking campaign as investors take less risk and buy stocks with steady profits, rather than growth shares…”
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
On the other hand, research byBlackRock(NYSE:BLK)highlightsthat increasing rates are not necessarily bad forWall Streetnames. Thus, it is not possible to know how the rest of the year could fare for NASDAQ stocks.
After all, theNasdaq-100 Technology Sector Indexhas lost about 27% so far in the year and 18% in April alone. But the decent decline offers a good entry point in many of these fundamentally robust names.
• 7 A-Rated Dividend Stocks to Buy Forever
With that in mind, here are 3 of the best Nasdaq stocks to buy now:
[{"INCY": "ROKU", "Incyte": "Roku", "$75.57": "$96.11"}, {"INCY": "FTXL", "Incyte": "First Trust Nasdaq Semiconductor ETF", "$75.57": "$60.90"}]
Source: Eyesonmilan / Shutterstock.com
Thefirst Nasdaq stock of the dayisIncyte(NASDAQ:INCY), a biopharma name with a market capitalization (cap) of $16.75 billion.Itsflagship drug Ruxolitinib, marketed in theU.S.as Jakafi, is used to treat myelofibrosisandpolycythemia vera.
IncyteannouncedQ4 FY21results on Feb. 8. Revenueincreased 9.3% year-over-year (YOY) to $863 million. Net income was $2.54 per diluted share, up from 68 cents in the prior-year quarter. Cash and equivalents ended the year at $2.35 billion.
LastSeptember, Ruxolitinib was alsoapproved for use to treat dermatitisand entered the market as Opzelura. The drug is currently in theFDA approval processto treat vitiligo as well. These additional indications for Incyte’s central product could provide a significant opportunity for revenue growth.
INCY stockis trading flat year-to-date (YTD) but has lost more than 12% over the past year. Shares are trading at 20.12 times forward earnings and 5.69 timestrailingsales. Meanwhile, the 12-month median forecastfor Incyte stockstands at$90.00. Interested readers could regard a potential decline toward the $70 level as a good entry point.
Source: Michael Vi / Shutterstock.com
Next up on our list is theTV streaming platformROKU(NASDAQ:ROKU). This Nasdaqcompany offersstreaming devices, an operating system (OS) for Smart TVs, and even the Roku Channel.
Roku released itsQ4 FY21results on Feb. 17. Revenuejumped 33% YOY to $865 million. Adjusted EBITDA decreased 24% to $86.7 million. Net income was 17 cents per diluted share, down from 49 cents in the prior-year quarter. Cash and equivalents ended the year at $2.15 billion.
Roku has successful relationships with all the large entertainment giants, including a recentmulti-yearagreement withAmazon(NASDAQ:AMZN) Prime Video. It has also recently launched CNN+ and Discovery+,owned byWarner Bros. Discovery(NASDAQ:WBD), on its platforms.
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However, declining subscriber numbers reported byNetflix(NASDAQ:NFLX) has sent chills through the media and entertainment industry. As a result of the headwinds, ROKU stockhas lost 60% YTD. Shares are trading at4.98timestrailingsales. Meanwhile, the 12-month median price forecast for Rokuisat$158.
Source: Shutterstock
The last discussion on Nasdaq stocks focuses on an exchange-traded fund (ETF).TheFirst Trust Nasdaq Semiconductor ETF(NASDAQ:FTXL),providesexposure to U.S. semiconductor names.These chip companies are selected based upon three investing factors: volatility, value, and growth. The fund started trading in September 2016 andhasan expense ratioof0.60%.
FTXL, which tracks the Nasdaq US Smart Semiconductor Index,has 30 holdings. With regards to sub-sectors, we see semiconductorsleading at78.78%,followed byproduction technology equipmentat21.22%. The top 10 stocks in the portfolio account for over half ofnet assets of$91.6 million.
Broadcom(NASDAQ:AVGO);Intel(NASDAQ:INTC);Texas Instruments(NASDAQ:TXN);Micron Technology(NASDAQ:MU); andQUALCOMM(NASDAQ:QCOM)are among the most prominent holdings.
FTXL is around its 52-week lows and has declined almost 28% YTD. At present, the fund is trading at21.94times trailing earnings and4.75times book value. Potential investors could find value around these levels.
On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The post3 Nasdaq Stocks to Buy Now for Growthappeared first onInvestorPlace. || Bullish claims to offer world’s deepest liquidity for BTC/USD: The development will help institutional clients trade at scale, with better pricing and lower risk, within a regulated market environment, Bullish said. Fast facts An internal study of publicly available Coinbase and Binance data over a two-month period ending on May 8 showed Bullish offering deeper liquidity than peers, the cryptocurrency exchange operator said. The data is inclusive of Bullish following the release of the BTC/USD range-bound liquidity pool. A week after the launch of the BTC/USD range-bound liquidity pool, the firm had a trading volume of US$1.91 billion compared with US$396.4 million, Bullish said. Higher liquidity helps with more bids and offers, theoretically increasing stability, reducing volatility, and price discovery for traders. View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19017.64, 20553.27, 20599.54, 20710.60, 19987.03, 21085.88, 21231.66, 21502.34, 21027.29, 20735.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-07-01]
BTC Price: 10583.13, BTC RSI: 53.87
Gold Price: 1385.60, Gold RSI: 63.45
Oil Price: 59.09, Oil RSI: 59.07
[Random Sample of News (last 60 days)]
North America’s Largest Solar Bitcoin Mining Farm Coming to California: California-basedminingcompany Plouton Mining will build North America’s largest solar-poweredbitcoin miningfarm, the company confirmed in apress releaseon June 25.
Plouton, which is a subsidiary of Plouton Group Holding, says the site in Western Mojave will feature around 49 acres of solar panels generating 10-13 megawatts of electricity daily.
The location was chosen due to its high annual quota of sunlight, which averages 70%, with the company planning to enter agreements with local utilities providers to secure low-cost power for the remaining time.
“The preeminent combination of nature and technology will usher in the next stage of bitcoin mining evolution, fulfilling the promise of Bitcoin as a sustainable, decentralized network of transactions,” Ramak J. Sedigh, the operation’s CEO, commented in the press release.
“We are very pleased to offer people the opportunity to participate in the growing Bitcoin blockchain economy without having to purchase the mining equipment themselves.”
As Cointelegraphreported, the uptick in bitcoin (BTC) price has led to a resurgence in both mining profitability anddecentralizationas smaller participants gain easier access to the market.
At the same time, the period since last November has seen major upheaval among the industry’s traditional heavyweights such asBitmain, which have variously enacted staff cuts and closures tostem financial losses.
Canada’sHut 8, one of the world’s largest publicly-tradedcryptocurrencymining companies, in Mayreported2018 losses of $140 million.
Long subject to claims it is environmentally damaging, bitcoin mining has meanwhile received better publicity in recent times after a studyrevealedmore than 70% of activity already utilizes renewable energy.
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• China: Locals Allegedly Laying Cable via Fish Ponds to Steal Oil Well Power for BTC Mining
• Bitcoin Generates More Carbon Emissions Than Some Countries, Study Warns || Homeland Security Warns Bots Are Exploiting Decentralized Crypto Exchanges: The U.S. Department of Homeland Security has warned that arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX).
Citing recentresearchfrom Cornell Tech, the departmentsaidon Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.”
In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the agency said.
Binance Launches Decentralized Exchange Ahead of Schedule
According to the article:
“Like high-frequency traders on Wall Street, these bots exploit inefficiencies in DEXes, paying high transaction fees and optimizing network latency to frontrun, i.e., anticipate and exploit, ordinary users’ DEX trades.”
The researchers spent 18 months tracking trades on six unnamed decentralized exchanges and found bots were exploiting time delays on these exchanges to make trades faster than is possible by human users.
Study author Philip Daian, a doctoral student in computer science at Cornell Tech, said that, in a traditional system, users have a broker or someone they are trading through and have a relationship based on trust.
Binance’s Singapore Fiat-to-Bitcoin Exchange Is Launching Next Week
In a decentralized system, however, the broker is replaced by blockchain tech, “which seems like a trusted third party, but in reality there are a lot of different moving parts in the blockchain that can be manipulated,” Daian said. “So you have to be very careful about what the blockchain is actually giving you.”
Daian further said that cryptocurrency miners have a “tremendous” amount of power, being able to accept higher fees to prioritize certain trades, “making the entire system vulnerable, or they may even rewrite blockchain history to steal funds already allocated by smart contracts.”
It’s worth noting that, to do so, miners would need to control the majority of a blockchain network’s hashing power – a so-called 51-percent attack – which brings with it great cost. However, such attacks havebecome more commonin the last year.
The study adds that such arbitrage tactics may also be used on centralized exchanges, which is likely a “billion-dollar issue.”
Homeland Securityimage via Shutterstock
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• Crypto Exchange Binance Is Setting Up Shop in Singapore This Month || Bitcoin is going mainstream Stateside, Coinbase report claims: US crypto exchange Coinbase has released a report looking at the growing interest in cryptocurrencies on the part of Americans, on a state-by-state level. The research, which involved 2,000 participants, found that 58% of Americans have heard of Bitcoin. Over the past year, more people searched on Google for Bitcoin than the royal wedding or election results. To date, more than 70% of US states have enacted legislation that addresses cryptocurrency or blockchain. Whilst the top 10 US states for percentage of the population that owns crypto are: California, New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada, and Massachusetts. The most appealing thing about crypto and Bitcoin to me is the idea of a worldwide currency , that it can cross borders without having to factor in exchange rates or high transfer fees or long delays, says Christopher, a 26-year-old small business owner in New Jersey. Say I want to move to another country someday? My cryptocurrency would automatically come with me. My whole journey is not a get-rich idea. I just really believe in crypto and want the technology to succeed. For people in my generation, I think it makes a lot more sense than stocks, bonds, inflated real estate, or other depreciating assets, adds Harrison, a 30-year-old systems manager in Washington State. I have no plans to trade or sell right now , there are price points where I might sell some, to pay off debt or pay off my condo. But the goal is to try to get actual economic freedom. Another participant comments: A lot of the best opportunities in the stock market are only available to accredited investors, which is a tiny part of the American population. Cryptocurrency is available to everyone. The post Bitcoin is going mainstream Stateside, Coinbase report claims appeared first on Coin Rivet . || Apple to Unveil CryptoKit Cryptographic Developer Package at Upcoming Conference: Apple will target cryptographic developer tools at this years Worldwide Developers Conference (WWDC) 2019, the company revealed in the event program for June 5. During a session scheduled for Wednesday at the ongoing event, titled Cryptography and your Apps, Apple will unveil a new tool dubbed CryptoKit , which will debut as an update in iOS 13. CryptoKit will focus primarily on developers, allowing them to build in more security functionality for apps with better support. System frameworks encrypt both data at rest and data in transit in a transparent way for you. This functionality is available by simply setting an attribute. However you may want to do more to protect your users' data, the event description reads. It continues: CryptoKit is a new Swift framework that makes it easier and safer than ever to perform cryptographic operations, whether you simply need to compute a hash or are implementing a more advanced authentication protocol. The ongoing WWDC comes as social media users keep an increasing eye out for any hint Apple is changing its somewhat hands-off approach to the cryptocurrency industry itself. Small moves, such as in-app SF symbols those compatible with Apples San Francisco font now including a bitcoin ( BTC ) logo, did not go unnoticed by commentators this week. Last month, meanwhile, cryptocurrency wallet Spend integrated Apple Pay functionality, allowing users to fund contactless mobile payments with any one of around 20 cryptocurrencies. Apple co-founder Steve Wozniak himself started a dedicated blockchain VC fund last year. Related Articles: Judge Freezes Funds in Accounts Belonging to Embattled Brazilian Crypto Firm The Land of the Free: Why Decentralization Matters in the Crypto Republic Former Mt. Gox CEO Mark Karpeles to Serve as CTO of New Japanese Blockchain Venture Bitcoin Useful as Investor Tip-Off, Says Gold Bug Who Predicted 90% Price Crash || Navigating 2019’s Twists and Turns: This article was originally published onETFTrends.com.
ByRiverFront Investment Group
A LESSON FROM FORMULA ONE RACING
As a Formula 1 racing fan, I find myself comparing the 2019 action in the equity markets to that of a Grand Prix race with all the thrills and tension that come along with it. The drivers must have endurance, possess the ability to navigate hairpin turns as well as the straightaways and maintain constant contact with the crew to reaffirm conditions and strategy. Sound familiar? As important as all the internal team dynamics are, invariably there are external variables – the course, the weather, and the actions of other racers - over which the team has no control.
THE START: It would have been difficult to have called the start of 2019. The dramatic downside reaction that ended 2018, sparked by fears of tighter interest rates, was quickly shrugged off as the Federal Reserve reversed course and indicated that it would proceed cautiously in determining further rate hikes. That coupled with what was perceived as positive news on the trade front resulted in a first quarter rebound in US equities that was at the high end of our optimistic forecast for the entire year in our2019Outlook.
THE CHICANE: A chicane is a sequence of tight corners (think zig-zag) in alternate directions built into the racing circuit to slow the cars. The “chicane,” for purposes of this reference, comes in the form of the reality of where we are in the earnings cycle. Earnings for the S&P 500 came in considerably better than the 4% decline that was originally forecast for the first quarter, however, according to FactSet they were still slightly negative. It is estimated that the decline was -0.4%. Earnings for the second quarter are now forecast to decline by more than 2%, which would likely reignite the worries about the impact of an earnings recession. S&P 500 earnings revision ‘momentum’ – a moving average of the total number of earnings-per-share (EPS) estimates revised up by analysts over the past 100 days, minus the number revised down, divided by total number of estimates - has recovered from its dramatic drop earlier this year, but is still hovering around zero, suggesting to us a lack of a decisive positive view by analysts heading into earnings season (see chart, next page).
Earnings growth leads to valuation multiple expansion, so the change in the rate of change for that growth is impactful to the valuation levels of the market. At this juncture, investors must look ahead to the back half of 2019 and into early 2020 to see earnings growth reaccelerate. On a forward multiple, the S&P 500 is at approximately a 16.7x multiple on 2019 earnings which is above the 10-year average of 14.8x. An article from Bloomberg earlier this week noted the growing number of Wall Street analysts who have cut their earnings estimates for the S&P, yet none have cut their target price for the index. As we head into earnings reporting season in a few weeks, the actual data as well as the guidance will be an important component in determining whether we see valuation multiple expansion or contraction from current levels.
THE YELLOW FLAG: A yellow flag signifies that there is hazard ahead. Given market valuations, we believe the “yellow flags” that we have seen in terms of macroeconomic and geopolitical hazards should have created more volatility, particularly to the downside, than what we have experienced. The sharp selloff in May that was the result of news that the US would proceed with tariff increases on imports from China seems to have become a dim memory in anticipation of progress as investors look ahead to the upcoming G20 meeting.
Past performance is no guarantee of future results. Shown for illustrative purposes only. You cannot invest directly in an index.
Ironically, there has been no concrete evidence of any substantive agreement between the two countries, so hope seems to be the prevailing strategy. Meanwhile, estimates for the potential impact that higher tariffs could have to US GDP have started to tick higher. Headlines are appearing daily regarding the negative impact to businesses and consumers as the imposition of these tariffs loom. In early June, consumer sentiment did tick slightly lower in the most recent Michigan Consumer Sentiment Survey due to tariff concerns; however, it remains at record levels. There are some signs of slowing in the US economy such US manufacturing data, and a recent survey of US CEOs revealed that sales expectations, plans for capital investment and hiring have all dropped.
THE STRAIGHTAWAY: As we wind down the second quarter it feels like we are on a straightaway. US equity markets have reached record highs, central banks around the world have tilted more dovish, and investors seemed to have reconciled that slower growth is a reality. At RiverFront, we have adjusted portfolios based on our underlying fundamental underpinnings of asset allocation, tactical adjustments, security selection and risk management to account for these variables .
Currently, our shorter-horizon strategies are considered neutral risk relative to our benchmarks, with a tilt towards US equities. This reflects both our optimistic views around US central bank policy and long-term preference for stocks over bonds, balanced with the uncertainty surrounding tactical factors like trade headlines. The longer-horizon strategies, where investors inherently may possess a higher tolerance for short-term uncertainty, remain positioned in a “risk on” fashion and also reflect a preference for US equities.
This article was written by the team atRiverFront Investment Group, a participant in theETF Strategist Channel.
Important Disclosure Information
The comments above refer generally to financial markets and not RiverFront portfolios or any related performance. Past results are no guarantee of future results and no representation is made that a client will or is likely to achieve positive returns, avoid losses, or experience returns similar to those shown or experienced in the past.
Information or data shown or used in this material is for illustrative purposes only and was received from sources believed to be reliable, but accuracy is not guaranteed.
In a rising interest rate environment, the value of fixed-income securities generally declines.
It is not possible to invest directly in an index.
When referring to being “overweight” or “underweight” relative to a market or asset class, RiverFront is referring to our current portfolios’ weightings compared with the portfolios’ composite benchmarks. For more information on our composite benchmarks, please visit our website: www.riverfrontig.com.
Technical analysis is based on the study of historical price movements and past trend patterns. There are no assurances that movements or trends can or will be duplicated in the future.
Investing in foreign companies poses additional risks since political and economic events unique to a country or region may affect those markets and their issuers. In addition to such general international risks, the portfolio may also be exposed to currency fluctuation risks and emerging markets risks as described further below.
Changes in the value of foreign currencies compared to the U.S. dollar may affect (positively or negatively) the value of the portfolio’s investments. Such currency movements may occur separately from, and/or in response to, events that do not otherwise affect the value of the security in the issuer’s home country. Also, the value of the portfolio may be influenced by currency exchange control regulations. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by the portfolio.
Foreign investments, especially investments in emerging markets, can be riskier and more volatile than investments in the U.S. and are considered speculative and subject to heightened risks in addition to the general risks of investing in non-U.S. securities. Also, inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.
Stocks represent partial ownership of a corporation. If the corporation does well, its value increases, and investors share in the appreciation. However, if it goes bankrupt, or performs poorly, investors can lose their entire initial investment (i.e., the stock price can go to zero). Bonds represent a loan made by an investor to a corporation or government. As such, the investor gets a guaranteed interest rate for a specific period of time and expects to get their original investment back at the end of that time period, along with the interest earned. Investment risk is repayment of the principal (amount invested). In the event of a bankruptcy or other corporate disruption, bonds are senior to stocks. Investors should be aware of these differences prior to investing.
Standard & Poor’s (S&P) 500 Index measures the performance of 500 large cap stocks, which together represent about 80% of the total US equities market.
RiverFront Investment Group, LLC, is an investment adviser registered with the Securities Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or expertise. The company manages a variety of portfolios utilizing stocks, bonds, and exchange-traded funds (ETFs). RiverFront also serves as sub-advisor to a series of mutual funds and ETFs. Opinions expressed are current as of the date shown and are subject to change. They are not intended as investment recommendations.
RiverFront is owned primarily by its employees through RiverFront Investment Holding Group, LLC, the holding company for RiverFront. Baird Financial Corporation (BFC) is a minority owner of RiverFront Investment Holding Group, LLC and therefore an indirect owner of RiverFront. BFC is the parent company of Robert W. Baird & Co. Incorporated (“Baird”), a registered broker/dealer and investment adviser.
Copyright ©2019 RiverFront Investment Group. All Rights Reserved. 882653
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READ MORE AT ETFTRENDS.COM > || E-mini S&P 500 Index (ES) Futures Technical Analysis – May 28, 2019 Forecast: June E-mini S&P 500 Index futures are edging lower at the mid-session after giving back earlier gains. Gains were limited by tensions over a potential prolonged trade dispute between the United States and China, but supported because there was no escalation of the dispute over the long holiday weekend. The rally was also supported by a strong recovery in technology shares which were beat up recently due to a new technology war between the U.S. and telecom giant Hauwei. However, helping to cap prices was a comment from President Trump that suggested conditions were worsening. Trump said Monday the U.S. was “not ready” to make a deal with China, before adding he expected one in the future. Trump also said tariffs on Chinese imports could go up “substantially.” At 15:41 GMT, June E-mini S&P 500 Index futures are trading 2829.00, down 2.75 or -0.08%. Daily June E-mini S&P 500 Index Daily Technical Analysis The main trend is down according to the daily swing chart. A trade through 2799.75 will signal a resumption of the downtrend. The main trend will change to up on a move through 2894.00. The index is also posting an inside move for a second session, suggesting investor indecision and impending volatility. The index is trading inside a major retracement zone bounded by a 50% level at 2844.00 and a Fibonacci level at 2816.00. This zone is controlling the longer-term direction of the index. The short-term range is 2894.00 to 2805.75. Its retracement zone at 2850.00 to 2860.25 is the next upside target and potential resistance. The main range is 2961.25 to 2799.75. Its retracement zone is also resistance. It stopped the rally at 2894.00 on May 16. The short-term retracement zone is resistance because sellers are going to continue to try to form secondary lower tops as the market moves lower. Daily Technical Forecast Based on the early price action, the direction of the June E-mini S&P 500 Index into the close is likely to be determined by trader reaction to the downtrending Gann angle at 2830.00. Story continues Bullish Scenario A sustained move over 2830.00 will indicate the presence of buyers. This could trigger a rally into a pair of 50% levels at 2844.00 and 2850.00. The latter is a potential trigger point for an acceleration into a resistance cluster at 2860.25 to 2862.00. Bearish Scenario A sustained move under 2830.00 will signal the presence of sellers. The next target is the major Fibonacci level at 2816.00. Crossing to the weak side of a downtrending Gann angle at 2809.25 will put the index in a bearish position. This article was originally posted on FX Empire More From FXEMPIRE: Eurosceptics Gained Seats in the EU. Will Gold Shine Now? AUD/USD Forex Technical Analysis – May 29, 2019 Forecast Asian Shares Lower after Trump Comments, Veiled Threat from China, Legal Move by Huawei EUR/USD Daily Forecast – Fiber Bulls Buckle-Up Ahead of German Unemployment Figures GBP/USD Daily Forecast – Cable Falls Into a Range Dax, Bitcoin And Oil. What Do They Have In Common? || First $10k, then $11k as Bitcoin enjoys super Saturday: After breaking $10,000 for the first time in over a year, Bitcoin has now sped past the $11k mark, according to Coin360 . Trading #Bitcoin – FOMO is Upon Us, $10k Gone in Blink of an Eye… Now at $11k… What do Charts Say… & should have Q&A time from @PorcFest https://t.co/4dbbCRLcUc — Tone Vays [#UnderstandBit] (@ToneVays) June 22, 2019 “We’re due a significant correction” At the time of writing, it is up 12.81% on the day and trading at $11,063. And it gets better…’FOMO’ could take Bitcoin from $9,000 to $20,000 within months, Fundstrat Global Advisors Co-founder Tom Lee told CNBC this week. “I think it is easily going to take out its all time highs,” he declared. Not everyone is getting out the party balloons and champagne, however. “I’m still not sold on the idea that it’s up, up, up from here,” says Simon Peters, Analyst at eToro. “ We’re due a significant correction still and prices could fall back to as low as $6,500 before the next major rise. That said, you can’t ignore the continuing price surge we’ve seen this year.” As for the latest rise, global politics could be one reason, Peters reckons. “It’s busy out there with the US-China trade war rumbling on, a new Prime Minister on the way in Britain and protests in Hong Kong. Some investors will naturally be spooked and are seeking a safe haven in assets like crypto. Bitcoin’s price may have also been boosted by Tether ‘printing’ another $150 million, which has historically been associated with a bump in crypto prices,” he concludes. George McDonaugh, CEO and Co-Founder of KR1, also advises caution, “On the long way up to $20,000 there were five moments where there was a 40% decrease in price. These shake-outs test your staying power and many new entrants will hand their precious coins back to the market,” he says. “We will see huge corrections again, and passing 10k may well be the catalyst that drives us back down, but whatever happens, we’ve been clearly shown that the interest, adoption and money has not in any way left this new asset class.” The post First $10k, then $11k as Bitcoin enjoys super Saturday appeared first on Coin Rivet . || 5 Things to Know About Facebooks Cryptocurrency Ambitions: Facebook (NASDAQ: FB) is building a cryptocurrency payment platform for its social network, according to The Wall Street Journal . The platform, codenamed Project Libra, will reportedly let users use digital coins to make purchases on Facebook and third-party sites. This isn't the first time we've heard about Facebook's cryptocurrency ambitions. In late 2018, it tested out an internally developed cryptocurrency for peer-to-peer money transfers on WhatsApp in India. In February, The New York Times claimed that Facebook was "hoping to succeed where bitcoin failed," and that the unification of WhatsApp, Messenger, and Instagram's messaging platforms could enable crypto payments across all three platforms. Here are five new things investors should know about Facebook's push into the crypto market. 1. It will use "stablecoins" Facebook's cryptocurrency will reportedly be a "stablecoin." Stablecoins are cryptocurrencies that are pegged to a stable asset like the U.S. dollar or a commodity (like gold) to minimize volatility. That's a smart move, since the prices of many other cryptocurrencies (like bitcoin and ethereum) fluctuate wildly. The price of bitcoin, for example, bounced between nearly $14,000 in late 2017 and about $3,000 at the beginning of this year. That volatile price might make it attractive to traders, but it also makes it impractical for traditional payments. Stacks of physical cryptocurrency coins. Image source: Getty Images. 2. It could challenge PayPal, Apple, Google, Amazon, and Square Facebook finished last quarter with 2.38 billion monthly active users. If it launches a unified currency for all those users, its coin could theoretically become the most widely used currency in the world. If Facebook tethers more third-party websites, apps, and stores to that platform, it could challenge payment platforms like PayPal (NASDAQ: PYPL) , Apple ( NASDAQ: AAPL ) Pay, Alphabet 's Google Pay, Amazon (NASDAQ: AMZN) Pay, and Square (NYSE: SQ) . Story continues David Marcus, PayPal's former president, currently leads Facebook's blockchain group (which is developing the cryptocurrency), and about 20% of the unit's 50 employees came from PayPal. That reunion suggests that Facebook plans to leverage its massive network of users to disrupt the market for online payments. 3. It would complement the company's other e-commerce ambitions A "Facebook coin" could tie together the company's fragmented payment and e-commerce efforts, which include peer-to-peer payments on Messenger, in-app checkouts for purchases on Instagram , interactive live videos that let merchants sell their products, and the Craigslist-like Facebook Marketplace. Facebook only offers these services in select markets, but launching a single currency for all its users worldwide could expand their reach and form the foundations of a stable e-commerce ecosystem. Facebook could also nurture the growth of its payments service by charging transaction fees or adding a slight margin to its coin purchases. A woman makes a purchase with her smartphone. Image source: Getty Images. If that business grew, it would reduce Facebook's dependence on ads by boosting the weight of its oft-overlooked "payments and other fees" business. That segment generated just $165 million in revenue (1% of its top line) last quarter. 4. It could pay its users and offer merchants discounts Facebook could reportedly reward users with crypto coins for viewing ads, or distribute them as loyalty points for interacting with content or buying products across its platforms. This strategy would be similar to Amazon's offer of free "Amazon Coins" for users who purchased certain Android apps, games, or in-game items. However, the Amazon Coin isn't a blockchain-powered cryptocurrency -- it's a simple virtual currency with a fixed value of $5 per coin. Facebook could also reward merchants for accepting more Facebook coin payments. For example, if a user clicks through a Facebook ad and completes a purchase with the coins, the retailer can use those coins to buy additional ads at a discount. 5. Visa and Mastercard might be interested Facebook's plans could potentially disrupt traditional credit card companies like Visa (NYSE: V) and Mastercard (NYSE: MA) . However, Facebook is reportedly in talks with both companies, which might want to become investors -- or even partners -- in the platform. That's logical, because Facebook would need a physical debit card partner to expand into brick-and-mortar stores. PayPal partnered with Visa to offer a physical debit card, and Square forged a similar partnership with Mastercard. Apple also recently introduced the physical Apple Card to expand Apple Pay into more stores. A promising plan, but plenty of hurdles Facebook's plan still faces lots of hurdles. For instance, established platforms like PayPal have a big lead, and Amazon and Google both struggled to catch up. Apple fared better thanks to its loyal base of hardware users, but it still controls a smaller slice of the market than PayPal. Facebook's reputation, which was tarnished by privacy and security debacles over the past year, could also prevent users from adopting its cryptocurrency offering. Facebook's plan sounds promising, but investors shouldn't count on it to reduce the company's dependence on advertising revenue anytime soon. More From The Motley Fool Crypto, Blockchain & Bitcoin Articles John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Leo Sun owns shares of Amazon, Apple, Facebook, and Square. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Mastercard, PayPal Holdings, Square, and Visa. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || $25,000 Bitcoin Price Next for Perma-Bull Tom Lee after Ringing Crypto Winter Dead: ByCCN:FundstratCEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his$25,000 price prediction.
If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment.
Lee said that bitcoin’s recent flash crash to $6,200, which wastriggered by a huge sell order on Bitstamp, was a blip. And the subsequent rebound to $8,000 strengthened the case that bulls were back in control of the market.
Tom Lee believes bitcoin has bottomed at $3,200 and begun the road to recovery. Source: CoinMarketCap
As Lee points out in his 13 reasons, negative news stories no longer seem to dent the market. Citing recent events that ought to have shaken the markets, he said:
“Stable market reaction to controversy around Bitfinex/Tether and NY Attorney General’s court order alleging undisclosed transfer from Tether’s reserves to Bitfinex in order to cover up mishandled funds.” || Trade War May Be A Boon For Gold Bugs: This article was originally published on ETFTrends.com. Against the current backdrop of the U.S. trade war with China, and the fear and uncertainty that accompany the rampant volatility and the worst May selloff for stocks in 50 years now, gold prices will continue to rise this year, according to one financial executive. Neil Pereira, principal investment officer of the International Financial Corporation (IFC), shared his thoughts on the precious metals landscape with Kitco News on the sidelines of the Mines and Money conference in New York. According to Kitco, In the last year, we saw gold prices fall, he noted. But in the last quarter of this year, weve seen a big increase and I think thats partly driven by expectations of reduced long-term interest rates. Gold is currently up about 1% on the day, and Pereiras comments come a few days after Federal Reserve Bank President, James Bullard, announced that a rate cut was appearing as a more and more attractive option, as it could potentially resolve issues of inflation and gain credibility for US markets. However, interest rates are not the only factor affecting gold prices, according to Pereira. Weve seen investors going back into the ETFs, weve seen central banks in China, Russia, Turkey, and India all increasing their purchases, he explained. Over the course of the next year, wed expect to see gold continue to rise, Pereira added. Bounded by supply and demand constraints, he noted that although the market has been in balance for some time, the future includes long-term supply increases. Although the SPDR Gold Shares ( GLD ), SPDR Gold MiniShares ( GLDM ) and other bullion-backed exchange traded products recently showed some signs of life, gold ETFs need to close higher in May or risk extending the monthly losing streak to four months. At Fridays close of $120.65, GLD was down 0.5% on a month-to-date basis. Its still early innings, but another negative return in May would mark GLDs fourth monthly loss in a row its longest losing streak since the six-month slump that kicked off last April, according to Schaeffers Investment Research . Story continues From a seasonality perspective, the odds are stacked against GLD. Over the past decade, GLD has closed the month of May on positive ground only 30% of the time, and its average return for the month is a decline of 1.10%, reports Schaeffers. Based on Aprils close, another average May for GLD would place the shares around $119.87 by months end which would mark its first monthly close below $120 since last November, incidentally. For more gold news and strategy, visit our gold category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster McDonalds Serves Up International Menu Items At Home READ MORE AT ETFTRENDS.COM >
[Random Sample of Social Media Buzz (last 60 days)]
why not, it's been so long since a proper altmania market...if btc can go parabolic then shitcoins can do it x3 better...#trxbtc #trxusd https://t.co/8YZgpXoBXl || #Curiosidades 📚 comenta que mas te gustaría saber ⏬.
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#noticierobitcoin #altcoin
#vzla #crypto #bitcoin #eth
#grupobitech #criptomonedas
#blockchain #paypal #btc #colombia #ecuador #chile #bitcoin #bitcoins… https://t.co/Ev2L1k3giN || @QwarkC Looks like BTC is bullish again . Smart traders use this private source with market predictions . And it is free for 10 days !
Look --> https://t.co/K1rXZyCM67
⭕ 9178877 || -=[ 577.010 ]=-
Txs: 2.404
Size: 1.13 MB
Stripped: 0.89 MB
Time: 1558403340
Reward: 12.5 BTC
Fees: 1.10695366 BTC
Miner: F2Pool
Mempool: 13.101 txs || Hi! I've been using Coinbase which makes it really easy and safe to buy, sell, and store digital currency (like Bitcoin). I got us 38.33 PLN each of free Bitcoin when you sign up with my invite link and buy or sell at least 383.32 PLN of digital currency: https://t.co/8d3mHTXNNp || Repost & Follow:
Twitter https://t.co/DykUQDeddU
Facebook https://t.co/13lzYZ92C4
Skype https://t.co/cGF9Fm8RBE
Get:
BTC https://t.co/4lGCeSVt0a
Read:
https://t.co/bpkJKNHQX7 To @ouralteredlife @TABarronAuthor #dna #monashlens || 🕗 May 26, 2019 3:00 PM
Bs/₿: 50,298,028 VES/BTC +0.7%⬆️
Avg tx: $86.61 tx/hr: 357
Avg 24h: 49,991,722 VES/BTC
Bid: 49,900,000 VES/BTC
Ask: 55,950,000 VES/BTC
https://t.co/oF2Wb23XDu
Rank #2 (8.13%)
Vol ₿: 53.18775269 BTC
Vol $: 426,305.16 USD
#bitcoin #venezuela https://t.co/2deb8R1ptr || BTCの底割れ直前で、主要アルトの出来高が増加した意味を考えましょう。
現在はBTCの反転3波が意識されています。
この状況下でのアルトの調整C波出来高急増は底打ち反転の兆しになると思われます。 || #BTC #LTC #Litecoinfam #FREECONTENTONLY BTC and LTC UPDATE! RETWEET! https://t.co/XP0Tq0I7bR
@xtdisnkfe
@litecoin_bull
@johnkim77
@LitecoinPope
@BotLtc
@TheCryptoZombie
@APompliano
@realPoseidonLuu || 1 ฿: $10740 https://t.co/N0BZQbcl79 #bitcoin
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Trend: up || Prices: 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
4 Top Stock Trades for Monday: Bitcoin, V, X, HOOD: It’s more choppiness on Friday — can you expect anything else? — as traders look for some sort of traction on the long side but continue to find no meaningful path forward. The volatility index remains elevated and whileApple’s(NASDAQ:AAPL) post-earnings pop is alleviating some pain in tech, we’re still waiting for a more powerful rally. Let’s look at a few top stock trades for next week.
Click to Enlarge
Source: Chart courtesy ofTradingView
I could be totally wrong aboutBitcoin(CCC:BTC-USD), but to me it has all the hallmarks of starting to roll over again.
We have a bear flag pattern, with Bitcoin rallying off the lows near $33,000 from earlier this week, but doing so slowly and with a tight range. Further, it’s rallying back into downtrend resistance with the 10-day moving average.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
I will be wrong if Bitcoin can push through its 10-day and take out this week’s high at $38,946. If it can do that, it puts the declining 21-day moving average and $40,000 level in play.
• 7 IT Stocks to Buy No Matter What Earnings Season Brings
On the downside, keep an eye on the $33,000 zone if Bitcoindoesroll over. A break of this area could put the $30,000 area on deck, which was strong support this summer.
Click to Enlarge
Source: Chart courtesy ofTrendSpider
Not many companies are having a very good reaction to earnings, butVisa(NYSE:V) is bucking the trend. Shares are ripping higher and engulfing the past several weeks of price action.
Amid the move, Visa stock is reclaiming a number of key areas (as you would expect). While it’s back above the weekly VWAP (volume-weighted average price) measure, it’s running right into the 50-week moving average, which it has struggled with several times.
I’ll be watching this measure carefully in the coming days. If Visa can clear it, it puts the monthly high in play at $226.79. Assuming that move comes after Monday, we could be looking at a monthly-up rotation — which is undoubtedly rare in the current market environment.
On the downside, a break of $211 isn’t good. It will mean that Visa lost too many important moving averages and volume measures.
Click to Enlarge
Source: Chart courtesy ofTrendSpider
U.S. Steel(NYSE:X) did a great job finding its footing on the 21-month moving average on Monday and rallying off that mark. All week it held up, as it now tries to push back to the upside.
On the upside, watch the $20.50 to $20.60 area and the declining 10-day moving average. This level was prior support but it failed earlier this year. If it’s resistance (along with the 10-day moving average) then bears will remain in control.
Back above both measures and the bulls will have taken back some momentum, putting the monthly VWAP measure in play, followed by the $22.50 zone.
On the downside, keep an eye on the 21-month moving average and this week’s low.
Click to Enlarge
Source: Chart courtesy ofTrendSpider
Last but not least, we haveRobinhood(NASDAQ:HOOD). I’ve been asked about this one more than once in the last few days.
Unfortunately, the chart is in pretty rough shape.
Forget about from the highs or the initial public offering (IPO) price … Robinhood stock has disintegrated from the mid-December low near $20. This level went from support to resistance in a hurry and shares remain trapped in a brutal downtrend below all of their moving averages.
I don’t know where fair value is, although at some point there should be some value here. Above Monday’s low at $11.15 is a positive, but back below this mark will put Friday’s low in play.
Perhaps this is the reversal to get HOOD stock going, but bulls will have to be careful. Below $11.15 puts today’s low on deck. On the upside, $15 could be in play if Robinhood can clear the 10-day.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell.
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The post4 Top Stock Trades for Monday: Bitcoin, V, X, HOODappeared first onInvestorPlace. || A quarter of small businesses across nine countries plan to offer crypto payments -Visa survey: By Hannah Lang (Reuters) - Almost a quarter of small businesses in nine countries around the world plan to accept digital currencies as a form of payment in 2022, while 13% of consumers in those countries expect retail stores to begin offering crypto payments this year and beyond, according to a survey by Visa Inc. The survey of 2,250 small business owners across nine countries including the United States, Brazil, Singapore and Canada suggests cryptocurrencies may be starting to go mainstream as a means of payment. Visa also surveyed 1,000 adults in the United States, along with 500 adults from each of the nine countries. “I think more people are feeling more confident with crypto,” said Jeni Mundy, Visa’s global head of merchant sales and acquiring, in an interview. Despite their rising popularity among retail and professional investors, cryptocurrencies are not widely used to pay for goods and services, in part because of their frequent fluctuations in value. On Monday, Bitcoin fell more than 5%, tumbling under the $40,000 level for the first time since September. Small businesses outside North America are more open to accepting digital currencies, including Bitcoin, as forms of payment. Visa found that more than 30% of small business merchants in the United Arab Emirates, Hong Kong, Singapore and Brazil plan to offer customers the option to pay using crypto in the coming months. Digital currencies have taken off in each of those jurisdictions, despite varying regulations. In contrast, 19% of small businesses in the United States and just 8% in Canada expect to offer crypto as a payment option in 2022. Almost three-quarters of businesses surveyed worldwide reported that accepting new forms of payments is “fundamental” to their business growth. For many smaller companies that are moving into new forms of digital payments, adopting crypto may be a natural evolution, said Mundy. They are asking "what other forms of payment can we take? And what other forms should we be considering?” she said. The other countries in the survey include Germany, Ireland and Russia. (Reporting by Hannah Lang in Washington; Editing by Matthew Lewis) || Elon Musk Sends Doge Up With Yet Another Tweet – But Just for a Moment: It’s always a good time tohype Dogecoin for Tesla CEO Elon Musk. Just shortly after Tesla’s new supercharger station opened in Santa Monica, Musk tweeted that you could pay with the crypto — but he didn’t mean for charging your car.
See:Elon Musk Claims the ‘Fun Police’ Forced Tesla to Restrict its Boombox Feature, Leading to RecallFind:Musk Confirms Dogecoin Payment Option for Tesla Merchandise, Pushing the Crypto’s Price Higher
Rayan Zohoury, founder of Tesla’s first app, TeslaConsole, posted a picture of the supercharging station with the caption: “Ten minutes after the new Santa Monica Superchargers opened and they’re already almost full!”
Musk tweeted in response: “And futuristic diner / drive-in theater planned for Hollywood area!”
“And, of course, you can pay in Ðoge,” he added, noting that customers could use crypto as a payment option for food, drinks and merchandise at the Hollywood location, which is being built, not at the charging station, which the post seemed to imply.
Musk’s reply took Doge into positive territory before pulling back, Benzinga reported. However, on the morning of Feb. 21, Doge was down 7.7%, according to CoinMarketCap. It’s also down 81.5% from its all-time high of $0.73, reached on May 8, 2021, according to CoinGecko.
Despite recent downturns, the crypto’s up 145% for the year.
Musk, the richest man on the planet and Time’s “Person of the Year,” has been touting Doge for months on various platforms, whether on Twitter repeatedly, or during his “Saturday Night Live” hosting gig.
Most recently, Musk tweeted that Tesla would start accepting Dogecoin for purchases of some merchandise.
“Tesla will make some merch buyable with Doge & see how it goes,” Musk posted on Dec. 14.
The tweet came on the heels of a Time video interview in which Musk said that, even though Doge was created as a “silly joke,” it’s “better suited for transactions” than Bitcoin,as GOBankingRates previously reported.
See:Elon Musk Stands by 2018 Tweet Saying Tesla Was Going Private in New Court FilingFind:Elon Musk: Tesla Bot Optimus is The Year’s ‘Most Important Product Development’
“Bitcoin is not a good substitute for transactional currency.Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin, like transactions per day, has much higher potential than Bitcoin,” Musk said in the Time video at the time.
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This article originally appeared onGOBankingRates.com:Elon Musk Sends Doge Up With Yet Another Tweet – But Just for a Moment || Connecticut Wealth Management, LLC Buys SPDR Portfolio S&P 500 Growth ETF, WisdomTree U.S. ...: Investment companyConnecticut Wealth Management, LLC(Current Portfolio) buys SPDR Portfolio S&P 500 Growth ETF, WisdomTree U.S. Total Dividend Fund, iShares Core MSCI Emerging Markets ETF, iShares Core U.S. Aggregate Bond ETF, S&P 500 ETF TRUST ETF, sells JPMorgan Chase, Webster Financial Corp, Bank of America Corp, Healthcare Trust of America Inc, SPDR SSgA Global Allocation ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Connecticut Wealth Management, LLC. As of 2021Q4, Connecticut Wealth Management, LLC owns 197 stocks with a total value of $1.3 billion. These are the details of the buys and sells.
• New Purchases:PRU, IWM, NVDA, ABNB, AMT, HEI, IEX, LOW, MLM, MDT, SPG, VMBS,
• Added Positions:SPYG, DTD, IEMG, IEFA, AGG, QUAL, SPYV, IJR, IJH, VEA, ICF, VOOV, SPY, TOTL, VO, BOND, SHW, AMZN, VOO, MCD, AAPL, ICSH, CVS, ESGE, ADP, V, BKNG, CSCO, COST, DIS, GE, EEM, ESGD, CWI, PG, EFA, NKE, IWB, IWR,
• Reduced Positions:IVW, QQQ, VB, IWF, VOOG, JPM, DON, VIG, BAC, VOT, MSFT, CATY, VYM, SLYG, IWN, T, DES, MRK, SDY, A, SWK, DVY, CRM, UNH, RFG, VBK, VBR, FDL, XOM, EXC, DFAC, GOOG, VNQ, VZ, LHX, MDY, SLYV, MDYG, BSV, TGT, UNP, PFF, APD, ALGN, ADSK, BMY, CVX, CMCSA, DE, HIG, HUBB, INTC, IBM, POOL, USMV, IJK, IWD, JNJ, LLY, MKC, FB, PYPL, PBCT, PEP,
• Sold Out:WBS, GAL, HYS, HTA, VRNS, GD, GPN, LW, SWT,
• Warning! GuruFocus has detected 2 Warning Sign with CSGP. Click here to check it out.
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For the details of Connecticut Wealth Management, LLC's stock buys and sells,go tohttps://www.gurufocus.com/guru/connecticut+wealth+management%2C+llc/current-portfolio/portfolio
These are the top 5 holdings of Connecticut Wealth Management, LLC
1. BTC iShares MSCI USA Quality Factor ETF (QUAL) - 1,331,642 shares, 15.05% of the total portfolio. Shares added by 2.81%
2. BTC iShares Core MSCI EAFE ETF (IEFA) - 1,019,352 shares, 5.91% of the total portfolio. Shares added by 8.48%
3. iShares Core S&P Small-Cap ETF (IJR) - 593,057 shares, 5.27% of the total portfolio. Shares added by 5.23%
4. iShares Core S&P Mid-Cap ETF (IJH) - 236,260 shares, 5.19% of the total portfolio. Shares added by 3.03%
5. SPDR Portfolio S&P 500 Value ETF (SPYV) - 1,387,552 shares, 4.52% of the total portfolio. Shares added by 6.79%
New Purchase: Prudential Financial Inc (PRU)
Connecticut Wealth Management, LLC initiated holding in Prudential Financial Inc. The purchase prices were between $100.05 and $114, with an estimated average price of $108.65. The stock is now traded at around $109.440000. The impact to a portfolio due to this purchase was 0.07%. The holding were 8,667 shares as of 2021-12-31.
New Purchase: iShares Russell 2000 ETF (IWM)
Connecticut Wealth Management, LLC initiated holding in iShares Russell 2000 ETF. The purchase prices were between $212.12 and $241.83, with an estimated average price of $225.48. The stock is now traded at around $201.530000. The impact to a portfolio due to this purchase was 0.04%. The holding were 2,227 shares as of 2021-12-31.
New Purchase: NVIDIA Corp (NVDA)
Connecticut Wealth Management, LLC initiated holding in NVIDIA Corp. The purchase prices were between $197.32 and $333.76, with an estimated average price of $277.31. The stock is now traded at around $233.720000. The impact to a portfolio due to this purchase was 0.04%. The holding were 1,835 shares as of 2021-12-31.
New Purchase: Airbnb Inc (ABNB)
Connecticut Wealth Management, LLC initiated holding in Airbnb Inc. The purchase prices were between $156.38 and $207.21, with an estimated average price of $176.14. The stock is now traded at around $147.900000. The impact to a portfolio due to this purchase was 0.03%. The holding were 1,975 shares as of 2021-12-31.
New Purchase: Heico Corp (HEI)
Connecticut Wealth Management, LLC initiated holding in Heico Corp. The purchase prices were between $133.37 and $149.8, with an estimated average price of $141.14. The stock is now traded at around $145.130000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,437 shares as of 2021-12-31.
New Purchase: Lowe's Companies Inc (LOW)
Connecticut Wealth Management, LLC initiated holding in Lowe's Companies Inc. The purchase prices were between $204 and $261.38, with an estimated average price of $238.68. The stock is now traded at around $232.350000. The impact to a portfolio due to this purchase was 0.02%. The holding were 946 shares as of 2021-12-31.
Added: SPDR Portfolio S&P 500 Growth ETF (SPYG)
Connecticut Wealth Management, LLC added to a holding in SPDR Portfolio S&P 500 Growth ETF by 125.72%. The purchase prices were between $63.28 and $73.48, with an estimated average price of $69.79. The stock is now traded at around $64.250000. The impact to a portfolio due to this purchase was 1.99%. The holding were 634,379 shares as of 2021-12-31.
Added: WisdomTree U.S. Total Dividend Fund (DTD)
Connecticut Wealth Management, LLC added to a holding in WisdomTree U.S. Total Dividend Fund by 98.86%. The purchase prices were between $58.64 and $64.77, with an estimated average price of $62.01. The stock is now traded at around $62.660000. The impact to a portfolio due to this purchase was 1.36%. The holding were 542,855 shares as of 2021-12-31.
Added: iShares Core MSCI Emerging Markets ETF (IEMG)
Connecticut Wealth Management, LLC added to a holding in iShares Core MSCI Emerging Markets ETF by 337.37%. The purchase prices were between $57.97 and $62.96, with an estimated average price of $60.63. The stock is now traded at around $58.930000. The impact to a portfolio due to this purchase was 0.63%. The holding were 177,080 shares as of 2021-12-31.
Added: iShares Core U.S. Aggregate Bond ETF (AGG)
Connecticut Wealth Management, LLC added to a holding in iShares Core U.S. Aggregate Bond ETF by 2065.51%. The purchase prices were between $113.17 and $115.05, with an estimated average price of $114.13. The stock is now traded at around $112.100000. The impact to a portfolio due to this purchase was 0.44%. The holding were 52,232 shares as of 2021-12-31.
Added: S&P 500 ETF TRUST ETF (SPY)
Connecticut Wealth Management, LLC added to a holding in S&P 500 ETF TRUST ETF by 46.08%. The purchase prices were between $427.14 and $477.48, with an estimated average price of $458.13. The stock is now traded at around $439.840000. The impact to a portfolio due to this purchase was 0.07%. The holding were 6,182 shares as of 2021-12-31.
Added: PIMCO Active Bond ETF (BOND)
Connecticut Wealth Management, LLC added to a holding in PIMCO Active Bond ETF by 27.92%. The purchase prices were between $108.49 and $110.02, with an estimated average price of $109.35. The stock is now traded at around $107.560000. The impact to a portfolio due to this purchase was 0.03%. The holding were 14,615 shares as of 2021-12-31.
Sold Out: Webster Financial Corp (WBS)
Connecticut Wealth Management, LLC sold out a holding in Webster Financial Corp. The sale prices were between $51.73 and $59.66, with an estimated average price of $56.33.
Sold Out: PIMCO 0-5 Year High Yield Corporate Bond Index Exc (HYS)
Connecticut Wealth Management, LLC sold out a holding in PIMCO 0-5 Year High Yield Corporate Bond Index Exc. The sale prices were between $97.15 and $99.11, with an estimated average price of $98.24.
Sold Out: Healthcare Trust of America Inc (HTA)
Connecticut Wealth Management, LLC sold out a holding in Healthcare Trust of America Inc. The sale prices were between $30.02 and $34.72, with an estimated average price of $33.47.
Sold Out: SPDR SSgA Global Allocation ETF (GAL)
Connecticut Wealth Management, LLC sold out a holding in SPDR SSgA Global Allocation ETF. The sale prices were between $44.29 and $46.56, with an estimated average price of $45.54.
Sold Out: Lamb Weston Holdings Inc (LW)
Connecticut Wealth Management, LLC sold out a holding in Lamb Weston Holdings Inc. The sale prices were between $50.24 and $63.38, with an estimated average price of $57.65.
Sold Out: Stanley Black & Decker Inc (SWT)
Connecticut Wealth Management, LLC sold out a holding in Stanley Black & Decker Inc. The sale prices were between $102.5 and $112.64, with an estimated average price of $108.37.
Here is the complete portfolio of Connecticut Wealth Management, LLC. Also check out:1. Connecticut Wealth Management, LLC's Undervalued Stocks2. Connecticut Wealth Management, LLC's Top Growth Companies, and3. Connecticut Wealth Management, LLC's High Yield stocks4. Stocks that Connecticut Wealth Management, LLC keeps buyingThis article first appeared onGuruFocus. || Truepoint, Inc. Buys Avantis Emerging Markets Equity ETF, Vanguard Intermediate-Term Corporate ...: Cincinnati, OH, based Investment company Truepoint, Inc. ( Current Portfolio ) buys Avantis Emerging Markets Equity ETF, Vanguard Intermediate-Term Corporate Bond ETF, ProShares Bitcoin Strategy ETF, Schwab U.S. Large-Cap ETF, Piper Sandler Cos, sells Vanguard Global ex-U.S. Real Estate ETF, AbbVie Inc, Alibaba Group Holding, Block Inc, Schwab U.S. REIT ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Truepoint, Inc.. As of 2021Q4, Truepoint, Inc. owns 136 stocks with a total value of $2.1 billion. These are the details of the buys and sells. New Purchases: BITO, PIPR, SCHX, ABT, GFI, ITW, MCD, PFE, FBGX, JKE, USO, Added Positions: IEFA, BSV, VEA, AVUV, IVV, AVEM, VCIT, VOO, CINF, DFAC, AAPL, BRK.B, MSFT, DIS, AMZN, TSLA, GOOG, IJH, QQQ, VIG, GOOGL, PNC, VZ, MRK, AFG, CMCSA, FFBC, IWM, KBE, XOM, SHY, COST, EFA, VO, ACN, VT, VTV, VWO, GE, IBM, INTC, BND, BIV, JPM, JNJ, AVDV, AMJ, COIN, KMI, PEP, WBA, Reduced Positions: VTI, VNQ, VNQI, DFAT, ITOT, PG, IWV, SCHH, KR, AGG, IWF, SCHB, VXF, MO, VV, VCSH, V, WMT, NVDA, HD, FITB, AZO, Sold Out: ABBV, BABA, SQ, NLY, STX, Warning! GuruFocus has detected 3 Warning Sign with DOW. Click here to check it out. AVEM 15-Year Financial Data The intrinsic value of AVEM Peter Lynch Chart of AVEM For the details of Truepoint, Inc.'s stock buys and sells, go to https://www.gurufocus.com/guru/truepoint%2C+inc./current-portfolio/portfolio These are the top 5 holdings of Truepoint, Inc. Vanguard Total Stock Market ETF ( VTI ) - 1,612,349 shares, 18.16% of the total portfolio. Shares reduced by 1.03% Vanguard FTSE Developed Markets ETF ( VEA ) - 4,941,551 shares, 11.77% of the total portfolio. Shares added by 2.27% iShares Core S&P 500 ETF ( IVV ) - 515,246 shares, 11.47% of the total portfolio. Shares added by 2.03% Vanguard Mid-Cap Growth ETF (VOT) - 814,958 shares, 9.68% of the total portfolio. Shares added by 0.43% Vanguard Short-Term Bond ETF (BSV) - 2,058,310 shares, 7.76% of the total portfolio. Shares added by 4.55% New Purchase: ProShares Bitcoin Strategy ETF (BITO) Truepoint, Inc. initiated holding in ProShares Bitcoin Strategy ETF. The purchase prices were between $28.9 and $43.32, with an estimated average price of $35.9. The stock is now traded at around $23.540000. The impact to a portfolio due to this purchase was 0.03%. The holding were 19,200 shares as of 2021-12-31. New Purchase: Schwab U.S. Large-Cap ETF (SCHX) Truepoint, Inc. initiated holding in Schwab U.S. Large-Cap ETF. The purchase prices were between $103.39 and $114.55, with an estimated average price of $110.61. The stock is now traded at around $108.870000. The impact to a portfolio due to this purchase was 0.02%. The holding were 3,115 shares as of 2021-12-31. Story continues New Purchase: Piper Sandler Cos (PIPR) Truepoint, Inc. initiated holding in Piper Sandler Cos. The purchase prices were between $144.98 and $190.39, with an estimated average price of $170.71. The stock is now traded at around $150.720000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,941 shares as of 2021-12-31. New Purchase: BTC iShares Morningstar Large-Cap Growth ETF (JKE) Truepoint, Inc. initiated holding in BTC iShares Morningstar Large-Cap Growth ETF. The purchase prices were between $64.76 and $73.24, with an estimated average price of $70.38. The stock is now traded at around $283.806500. The impact to a portfolio due to this purchase was 0.01%. The holding were 3,045 shares as of 2021-12-31. New Purchase: Pfizer Inc (PFE) Truepoint, Inc. initiated holding in Pfizer Inc. The purchase prices were between $41.32 and $61.25, with an estimated average price of $49.81. The stock is now traded at around $53.545000. The impact to a portfolio due to this purchase was 0.01%. The holding were 4,506 shares as of 2021-12-31. New Purchase: Abbott Laboratories (ABT) Truepoint, Inc. initiated holding in Abbott Laboratories. The purchase prices were between $115.53 and $141.46, with an estimated average price of $128.29. The stock is now traded at around $130.160000. The impact to a portfolio due to this purchase was 0.01%. The holding were 1,502 shares as of 2021-12-31. Added: Avantis Emerging Markets Equity ETF (AVEM) Truepoint, Inc. added to a holding in Avantis Emerging Markets Equity ETF by 59.56%. The purchase prices were between $60.96 and $65.35, with an estimated average price of $63.38. The stock is now traded at around $63.138100. The impact to a portfolio due to this purchase was 0.08%. The holding were 71,429 shares as of 2021-12-31. Added: Vanguard Intermediate-Term Corporate Bond ETF (VCIT) Truepoint, Inc. added to a holding in Vanguard Intermediate-Term Corporate Bond ETF by 116.14%. The purchase prices were between $91.63 and $93.58, with an estimated average price of $92.71. The stock is now traded at around $90.589900. The impact to a portfolio due to this purchase was 0.06%. The holding were 24,610 shares as of 2021-12-31. Added: Merck & Co Inc (MRK) Truepoint, Inc. added to a holding in Merck & Co Inc by 43.21%. The purchase prices were between $72.28 and $90.54, with an estimated average price of $79.6. The stock is now traded at around $82.045000. The impact to a portfolio due to this purchase was 0.01%. The holding were 5,999 shares as of 2021-12-31. Added: The Walt Disney Co (DIS) Truepoint, Inc. added to a holding in The Walt Disney Co by 80.31%. The purchase prices were between $142.15 and $177.71, with an estimated average price of $161. The stock is now traded at around $142.635000. The impact to a portfolio due to this purchase was 0.01%. The holding were 2,290 shares as of 2021-12-31. Added: Alphabet Inc (GOOG) Truepoint, Inc. added to a holding in Alphabet Inc by 23.78%. The purchase prices were between $2675.3 and $3014.18, with an estimated average price of $2894.54. The stock is now traded at around $2998.605000. The impact to a portfolio due to this purchase was 0.01%. The holding were 229 shares as of 2021-12-31. Added: PNC Financial Services Group Inc (PNC) Truepoint, Inc. added to a holding in PNC Financial Services Group Inc by 28.85%. The purchase prices were between $192.55 and $216.56, with an estimated average price of $203.58. The stock is now traded at around $209.350000. The impact to a portfolio due to this purchase was 0.01%. The holding were 3,452 shares as of 2021-12-31. Sold Out: Block Inc (SQ) Truepoint, Inc. sold out a holding in Block Inc. The sale prices were between $158.3 and $265.08, with an estimated average price of $215.58. Sold Out: AbbVie Inc (ABBV) Truepoint, Inc. sold out a holding in AbbVie Inc. The sale prices were between $107.43 and $135.93, with an estimated average price of $118.5. Sold Out: Alibaba Group Holding Ltd (BABA) Truepoint, Inc. sold out a holding in Alibaba Group Holding Ltd. The sale prices were between $111.96 and $177.7, with an estimated average price of $145.1. Sold Out: Seagate Technology Holdings PLC (STX) Truepoint, Inc. sold out a holding in Seagate Technology Holdings PLC. The sale prices were between $79.01 and $115, with an estimated average price of $97.65. Sold Out: Annaly Capital Management Inc (NLY) Truepoint, Inc. sold out a holding in Annaly Capital Management Inc. The sale prices were between $7.79 and $8.73, with an estimated average price of $8.4. Here is the complete portfolio of Truepoint, Inc.. Also check out: 1. Truepoint, Inc.'s Undervalued Stocks 2. Truepoint, Inc.'s Top Growth Companies, and 3. Truepoint, Inc.'s High Yield stocks 4. Stocks that Truepoint, Inc. keeps buyingThis article first appeared on GuruFocus . View comments || Marketing Worldwide Corporation #Minosis Projections for 2022 and Corporate Update: CHEYENNE, WY / ACCESSWIRE / February 9, 2022 / Marketing Worldwide Corporation, (OTC PINK:MWWC), 'the Company', announces the Minosis platform earning projections for 2022 and further updates. Minosis V.4 Update: Marketing Worldwide Corporation, through its wholly-owned subsidiary Minosis and the crypto trading platform www.minosis.io are pleased to announce the projected earnings for 2022. For the past 4 months the company has enlisted developers, web-designers, and marketing agents to deploy a fully functioning crypto mining platform; currently, Minosis is in BETA V.4 release and is almost ready for its global scale debut. "We've had a couple of set-backs and some SSL triggers that we needed to address to make the website safe and secure for all of our users," said Jason Schlenk, $MWWC CEO. During the test phases multiple users signed up and limited access was provided to subscribers to initiate the Company's feedback protocol, which was a huge success. The user response helped eliminate latency and lagging issues during mining; which included other small glitches that would have gone undetected by the developers. Over the past 45 days there have been over 1,000 users added to the Minosis V.4 platform and the system appears to handling it extremely well. Jason Schlenk stated, "At one point we were getting attacked by bots at a rate of 110 hits per second, and the website maintained its integrity, these behind the curtain events that users don't see were a concern to us and that's why we addressed those issues up front before they became a problem." The #Minosis platform is currently being scrubbed for flaws by an outside audit company for security one last time, the process generally takes a few weeks to complete, but when the information becomes available the company will share the results with the $MWWC Community. Minosis 2022 Projections: Marketing Worldwide Corporation, is proud to provide key earnings projections from the Minosis mining platform. Over a 3 week period, the platform has produced .50 ETH and .32 BTC in fees, mining, hash rental and transaction costs within the limited Beta V.4 release. We expect these numbers to increase, but at the current earning rates Minosis analytics derived the following information: Story continues ETH (ETHEREUM ethereum · GitHub Weekly Value Monthly Earnings 1 Year Earnings 0.1667 $3,086.30 $2,057.94 $24,695.34 BTC (BITCOIN) About That Orange B... The History of Bitcoin's Logos - CoinDesk Weekly Value Monthly Earnings 1 Year Earnings 0.1067 $42,791.34 $18,263.34 $219,160.13 *Ethereum and Bitcoin prices as of February 9 th , 2022 **(The company realizes that these figures can change based on the price of the crypto-currency at any given time, and with each investment there is risk; which is why $MWWC will convert a portion of the revenues into a stable coin such as $USDC to lock in its profits.) New Announcement - #MINOSIS Token (BEP20): Marketing Worldwide Corporation has retained BlockchainX ( www.blockchainx.tech ) to build the smart contracts and ecosystem for the new Minosis Token (known as $MNS), this token will have a deflationary utility which means its circulating supply will decrease over time to increase value for its "hodlers" (holders). $MNS will be released on the Binance Smart Chain which offers lower gas fees and accessibility for users. The $MNS project will have multiple announcements in the coming weeks about the "tokenomics", "whitepaper", "website launch", "marketing features", and "rewards features". "Stay tuned for what's coming, you aren't going to want to miss the $MNS roll-out," said Jason Schlenk CEO of Marketing Worldwide. Contact Information Twitter: @MWWCOfficial Email: [email protected] Website: www.marketingworldwide.co Forward Looking Statements: This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. SOURCE: MARKETING WORLDWIDE CORPORATION ("MWWC") View source version on accesswire.com: https://www.accesswire.com/687895/Marketing-Worldwide-Corporation-Minosis-Projections-for-2022-and-Corporate-Update || Stock Market Today: Powell Rate Comments Rupture Morning Rally: Federal Reserve Chair Jerome Powell Getty Images The stock market on Wednesday weathered the Federal Reserve's suggestion that it would begin raising its benchmark interest rate in March, but it folded when the central bank's chair indicated the Fed could be more aggressive about rate hikes than previously thought. The Federal Open Market Committee concluded its two-day meeting with an afternoon statement saying that "with inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate." SEE MORE 9 High-Yield Stocks Doling Out 5% or More That was largely expected by strategists and resulted in little movement from the major indexes, which had built up considerable gains throughout the morning. However, shortly thereafter, Fed Chair Jerome Powell said during a press conference that "I think there's quite a bit of room to raise interest rates without threatening the labor market." That might have spooked investors already expecting multiple rate hikes this year ( Kiplinger currently projects four ). Stocks quickly turned tail, hemorrhaging most if not all of their early gains. The Nasdaq Composite , for instance, watched a 3.4% intraday gain evaporate into a marginal improvement to 13,542. The Dow Jones Industrial Average (-0.4% to 34,168) and S&P 500 (-0.2% to 4,349) watched green ink turn to red. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. "The stock market is especially vulnerable to higher rates and the removal of the tailwind that the Fed's asset purchases have provided for the past two years," says Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, a registered investment advisor. "We believe the economy will stay out of recession and the bull market in stocks will continue this year, but we are concerned that the volatility we have already witnessed this month will increase in the months ahead and would exercise caution in the near term." Story continues stock chart for 012622 YCharts Other news in the stock market today: The small-cap Russell 2000 finished solidly in the red, off 1.4% to 1,976. Rising tension over a potential Russian invasion of Ukraine sent U.S. crude oil futures surging 2% to $87.35 per barrel – their highest settlement since October 2014. Gold futures fell 1.2% to finish at $1,829.70 an ounce. Bitcoin , which topped out around $39,000 today, dropped back to $37,051.31 – a 0.4% improvement from yesterday's prices. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Microsoft ( MSFT ) – which declined last night in after-hours trading following the release of its earnings report – ended today up 2.9%, the best of all 30 Dow Jones stocks . While investors were initially disappointed in slower year-over-year cloud services revenue growth (46% vs. the 50%+ growth it has seen over the previous four quarters), they eventually cheered the tech giant's higher-than-expected adjusted earnings of $2.48 per share and total revenue of $51.7 billion for its fiscal second quarter. UBS analyst Karl Keirstead (Buy) also pointed to the company's solid current-quarter revenue guidance as "the key factor explaining the sudden reversal of the stock in the after-market." In its fiscal third quarter, MSFT sees revenue of $48.5 billion to $49.3 billion versus a consensus estimate for $48.2 billion. Corning ( GLW ) was another big post-earnings winner, popping 11.2% after releasing its most recent results. In its fourth quarter, the specialty glassmaker reported adjusted earnings of 54 cents per share on $3.7 billion in sales, beating analysts' estimates. CFRA Research analyst Keven Young maintained a Buy rating on GLW after earnings. "We are encouraged by investments in fiber infrastructure as operators expand capacity, capability and access," he says. "In addition, we expect higher TV units and screen sizes (glass at retail to grow high-single digits in 2022) to aid Display growth." When Will Growth Get a Break? No respite for the weary, as todays rally in recently maligned growth stocks was more or less snuffed by the Fed. But it's possible that the selling in growth is becoming somewhat overdone – or at least that Wall Street is throwing a few babies out with the bathwater. SEE MORE 22 Best Retirement Stocks for an Income-Rich 2022 "Many investors assume that higher interest rates will dent future stock market returns, but investors should not assume a direct correlation, since stock price movements are far more complicated and are never dependent on one cause," says Julian Koski, chief investment officer at asset management firm New Age Alpha. "Our advice to investors is to focus less on what the Federal Reserve may or may not do and instead focus more on the individual stocks they own and whether these stocks can deliver on the growth expectations that are baked into their valuations." We've mentioned it before: Investors looking to buy explosive stocks in a diversified way should perhaps consider growth funds with an eye toward later in 2022 and well beyond , but pickers of individual growth stocks might be rewarded. You can begin your search category by category, tapping top picks in growth-friendly sectors such as technology and consumer discretionary . But if you're sector-agnostic and just want to go where the highest-quality, high-ceiling opportunities are, consider our look at 15 of the market's top growth ideas . SEE MORE 2022's Best Mutual Funds in 401(k) Retirement Plans You may also like 9 Great Growth ETFs for 2022 and Beyond Sweet Silicon: 5 Superb Semiconductor Stocks for 2022 The 10 Best Closed-End Funds (CEFs) for 2022 || European Equities: Eurozone GDP and Member State Inflation in Focus: Spanish HICP (YoY) (Jan) Prelim
Spanish CPI (YoY) (Jan) Prelim
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Eurozone CPI (YoY) (Jan) Prelim
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It was a bearish end to the week for the European majors on Friday. The CAC40 fell by 0.82%, with the DAX and the EuroStoxx600 ending the day down by 1.32% and by 1.02% respectively. The losses came in spite of a bounce back across the U.S equity markets on Friday.
Disappointing GDP numbers from Germany and economic data from the U.S weighed on the majors. Market angst over the prospects of an imminent move by the FED also weighed, with U.S inflationary pressures picking up further in December. Autos continued to lose ground, with the sector taking a hit as the markets considered the impact of inflation on spending and the economic outlook.
Member state GDP numbers for the 4thquarter were in focus early in the European open.
In the 4thquarter, the economy expanded by 0.7% following a 3.1% expansion in the previous quarter. Economists had forecast 0.5% growth.
According toInsee.Fr,
• Final domestic demand (excl. inventories) contributed 0.5 points, supported by both household consumption expenditure (+0.4%) and gross fixed capital formation (+0.5%).
• Trade terms weighed, however, with imports up 3.6%, while exports rose by 3.2%, resulting in a negative contribution to GDP (-0.2 points).
• The contribution of inventory changes to GDP growth was positive (0.4 points).
According toDestatis, the German economy contracted by 0.7% in the 4thquarter, after having expanded by 0.7% in the previous quarter. Economists had forecast a 0.3% contraction. Year-on-year, the economy grew by 1.4%, falling short of a forecast of 1.8%. In the 3rdquarter, the economy had also expanded by 1.4% year-on-year.
French consumer spending and Spanish GDP numbers had a muted impact on the majors.
In December, French consumer spending increased by just 0.2%, which was in line with forecasts. Spending had risen by 0.9% in November.
For the 4thquarter, Spain’s economy expanded by 2.00% quarter-on-quarter, easing from 2.6% growth in the previous quarter. Economists had forecast 1.4% growth.
Inflation and personal spending figures were market negative.
In December, the Core PCE Price Index rose by 5.8% year-on-year, which was up from 5.7% in the month prior. Personal spending disappointed, however, falling by 0.6%. In November, personal spending had risen by 0.4%.
For the DAX:It was a bearish day for the auto sector on Friday.Continentalled the way, sliding by 2.65%, withBMWandDaimlerending the day down by 1.70% and by 1.80% respectively.Volkswagenfell by a more modest 1.43%.
It was also a bearish day for the banks.Deutsche Bankslipped by 0.07%, withCommerzbankdeclining by 1.67%.
From the CAC, it was a bearish day for the banks.BNP Paribasslid by 2.67%, withCredit AgricoleandSoc Genseeing losses of 1.04% and 1.02% respectively.
The French auto sector had a bearish session.Stellantis NVslid by 2.70%, withRenaultending the day down by 2.43%.
Things were not much better forAir France-KLMandAirbus SEwhich saw losses of 1.83% and 2.66% respectively.
It was a 2ndconsecutive day in the red for theVIXon the Friday, marking just the 2nddecline in 9 sessions.
Following a 4.60% loss on Thursday, the VIX slid by 9.28% to end the day at 27.66.
The NASDAQ rallied by 3.13%, with the Dow and the S&P500 seeing gains of 1.65% and 2.43% respectively.
It’s a busy day ahead on the Eurozone’seconomic calendar. 4thquarter GDP numbers for the Eurozone and member state inflation figures for January will be in focus. With the ECB in action on Thursday, expect both sets of numbers to influence.
From the U.S, economic data is limited to January’s Chicago PMI, which should have a muted impact, leaving the U.S equity markets to provide direction late in the session.
Going into the European open, PMI numbers from China over the weekend will likely set the tone. In January, the NBS Manufacturing PMI fell from 50.9 to 49.1, with COVID-19 weighing on private sector activity once more. The Non-Manufacturing PMI declined from 52.7 to 51.1.
In the futures markets, at the time of writing, the Dow Mini was down by 33 points.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Bitcoin (BTC) Sees Red Ahead of a Tricky Week for the Crypto Market
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• What History Says About Russell 2000’s Performance After Market Breadth Hits This Level || Market Wrap: Altcoins Outperform as Geopolitical Concerns Fade: Most cryptocurrencies traded higher on Tuesday as tensions between Russia and Ukraine eased.
Russian President Vladimir Putin said during a news conference on Tuesday he is“ready to work further”with the West to de-escalate tensions over Ukraine. Russia also decided to partially pull back troops from military districts bordering Ukraine.
Equities and cryptocurrencies rose, while traditional safe havens such as gold and the U.S. dollar declined over the past 24 hours.
Alternative cryptocurrencies (altcoins) led the rally on Tuesday, indicating a renewed appetite for risk among crypto traders. ETH was up 8% over the past 24 hours, compared with a4% rise in BTCover the same period.
Still, trading volume in the bitcoin spot market remained weak relative to previous price jumps on Feb. 4 and Feb. 10. That could point to limited gains around $46,000-$50,000 BTC according to some technical indicators.
●Bitcoin(BTC): $44172,+4.73%
●Ether(ETH): $3115,+7.60%
●S&P 500 daily close: $4471,+1.58%
●Gold: $1855 per troy ounce,−0.67%
●Ten-year Treasury yield daily close: 2.04%
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
The chart below shows the decline in BTC trading volume over the past few months.
"Currently, traders look indecisive, shown by the market sentiment hovering between fear and greed and bitcoin ranging between the $42,000 support and the $46,000 resistance,"Arcane Researchwrote in a Tuesday report. "If bitcoin breaks out of this range, we might see increased market activity going forward."
Over the past 24 hours, the volume of sell orders exceeded the volume of buy orders in the BTCperpetual swaps market, according to market data compiled by CryptoQuant. That indicates short-term selling pressure.
Over the past year, "trading volumes as a percentage of market cap in many of the major cryptocurrencies are lower compared with previous months," CoinDesk's Lawrence Lewitinnstated. "The end result is that it may take smaller amounts of capital to move the markets wildly."
The bitcoinFear & Greed Indexdipped back into "fear" territory as traders reacted to macroeconomic and geopolitical uncertainty. The current reading of 46 is neutral, however, which means there is no strong bullish or bearish bias among market participants.
The Fear & Greed Index can oscillate between extreme lows and highs for many months, similar to the erratic signals during the 2018 crypto bear market. Frequent shifts in sentiment could signal short-term opportunities for buyers and sellers, while those who are more committed to a trading position would rely on smoother indicators such as cycles and trends.
Sometechnical indicatorsshow long-term trend weakness, which could limit potential upside in BTC.
Still, over the past month, sentiment has improved as the crypto sell-off stabilized.
For tactical traders, one positive blockchain indicator to monitor is thestablecoin supply ratio(SSR), which shows when there is enough liquidity available to buy into the market (locked into stablecoins) or, on the other hand, when the buying power is not enough to move up the price relative to BTC's market cap, according to CryptoQuant.
SSR recently triggered a positive signal, similar to what occurred during the July and October price rallies.
• GALA jumps 20%, leads metaverse index gains:GALA, the eponymous token of blockchain-based gaming platform Gala Games, surged as much as 20% in the last 24 hours, outpacing other majormetaversetokens as well as Meta’s stock. The move came afterGala Gamessaid it plans to deploy $5 billion within the next year to bolster itsnon-fungible token(NFT) offerings by buying intellectual property rights and building a theme park, according to CoinDesk’s Sam Reynolds. Read morehere.
• JPMorgan is the first bank Into the metaverse:JPMorgan, the largest bank in the U.S., said it has become the first lender to arrive in the metaverse,having opened a lounge in Decentraland, a virtual world based on blockchain technology. As well as the unveiling of the Onyx lounge (the name refers to the bank’s suite of permissioned Ethereum-based services), JPMorgan also releaseda paper exploring how businesses can find opportunities in the metaverse, according to CoinDesk’s Ian Allison. Read morehere.
• Binance.US Faces SEC Probe Over Trading Affiliates: Report
• US Rep. Josh Gottheimer Introduces Bill for Government-Backed Stablecoin Insurance
• Silvergate to Continue Working With Regulators Ahead of Stablecoin Pilot Launch
• Bitstamp Founder Loses UK Court Bid to Prevent New Owner Buying His Shares
• How the Marshall Islands Is Trying to Become a Global Hub for DAO Incorporation
Digital assets in the CoinDesk 20 ended the day higher.
[{"Asset": "Polygon", "Ticker": "MATIC", "Returns": "+9.9%", "Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "+9.6%", "Sector": "Computing"}, {"Asset": "Algorand", "Ticker": "ALGO", "Returns": "+7.7%", "Sector": "Smart Contract Platform"}]
There are no losers in CoinDesk 20 today.
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. TheCoinDesk 20is a ranking of the largest digital assets by volume on trusted exchanges. || ProShares to Launch New Metaverse ETF Tracking Industry Heavyweights Meta, Apple, and Nvidia: ProShares, an investment firm renowned for launching theBitcoin Futures ETFin the U.S., has now set its sights on the fast-evolving Metaverse universe.
In a December 28filingwith the U.S. Securities and Exchange Commission (SEC), ProShares declared its intention to launch a new metaverse-focused ETF. Dubbed the ‘ProShares Metaverse Theme ETF,’ the product will focus on tracking the Solactive Metaverse Theme Index (SOMETAV).
The index reflects the performance of multiple public companies offering metaverse-related products and services. It features some top-weighted stocks such asApple, Meta, andNvidia.
SOMETAV also tracks the performance of companies operating in online gaming, the creative economy, and the manufacture of metaverse-related devices such as V.R. headsets.
The ETF prospectus fromProShareshighlights the growing popularity of the metaverse, an online virtual world that has become a key buzzword in recent months.
The rapidly evolving metaverse trend has attracted some big names over the past few months. In October, social media giantFacebookrebranded to Meta, citing its ambition to create a virtual environment offering gaming and NFT trading features.
More recently, several prominent asset managers have decided to capitalize on the booming metaverse sector, whichanalystsfrom Reports and Data estimate could hit $872 billion in 2028. Last month, metaverse appetite hit new heights as two Canadian firms launched two ETF products based on the emerging virtual world on the same day.
Meanwhile, the Roundhill Ball Metaverse has enjoyed tremendous success with the launch of its ETF, drawing in a staggering $916M from investors since June. Proshares now looks set to become the latest entity to join the metaverse sector, assuming financial regulators green light their ETF filing.
Per a recent Bloombergreport, the metaverse industry has reached $2.2 billion in a few months and is estimated to become an $800B industry. Some analystsviewthe metaverse as the next big tech platform that could propel the crypto industry to new heights.
The metaverse creates an online 3-D virtual environment that merges virtual, augmented, and physical realities into one immersive platform. The emerging world promises to transform virtual social experiences, e-commerce, gaming, NFT trading, and much more.
One expert points to recent developments in the metaverse universe as a sign that the sector is well primed to evolve and grow. Todd Rosenbluth, the director of ETF research at CFRA, told Bloomberg:
“I don’t know if the Metaverse theme has legs, but investors believe in it. Given the success of the ETF META, we are likely to see more products come to market that offer a unique twist on this long-term theme.”
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 38286.03, 37296.57, 38332.61, 39214.22, 39105.15, 37709.79, 43193.23, 44354.64, 43924.12, 42451.79
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Avalon Life - Explores the Use of Blockchain for Asset Protection: SAN JOSE, COSTA RICA / ACCESSWIRE / February 15, 2018 /The blockchain is well known for its role in the ascent of cryptocurrencies, such as Bitcoin. Not only does this technology underpin the success of Bitcoin, whose value rose 1,400% in 2017, it is also an emerging option for asset protection, according toAvalon Life.Research firmshave forecast that the business value from blockchain technology will exceed $176 billion by 2025.
The distributed digital ledger has many applications to asset management. Its ability to protect data records from alteration, resilience against cyberattacks, and high process integrity provide considerable value to those industries who operate with complex supply chains. Notably, blockchain's two-key system used to conduct transactions is an important feature in protection. To transfer an asset requires a public and private key, the latter which is known only to the owner. It can also be held by a trustee or manager for safekeeping. Access could involve multiple keys for a portion, or all, of the asset to prevent any one person from acting unilaterally.
Large multinational corporations are already exploring the utility of the blockchain to protect their assets, saysAvalon Life.Reutersreported that diamond producer De Beers is preparing to launch an industry-wide blockchain this year which will authenticate diamonds, ensuring that the gems do not originate in conflict zones. In 2017,Fortunereported that a consortium of pharmaceutical firms, including Genentech and Pfizer, had started the MediLedger Project. The initiative uses blockchain technology to prevent stolen or counterfeit drugs from entering the industry supply chain. Under this system, every drug shipment will be accompanied by a secure record of transaction. The development of the blockchain as an asset protection tool is subject to several risks as it begins to play a greater role in the physical economy. ConsultancyE&Yasserts that regulatory uncertainty remains a challenge for firms implementing the technology and that the significant upfront investment required could be a potential deterrent.
Nonetheless, the distributed ledger is quickly becoming a viable alternative to traditional methods that guarantee protection of assets, such as centralized contracts and records, which are increasingly costly and time consuming in a globalized, digitized economy. Adoption of blockchain opportunities will allow businesses to position their products and services for growth in the age of technology. In a 2017 survey byJuniper Research, 6 out of 10 large corporations were considering blockchain deployment. Of those firms that have established its feasibility for business application, two-thirds expect to integrate blockchain into internal systems by the end of 2018.
Avalon Lifeis an active crypto community with over 168,000 members, headquartered in Costa Rica. The company enables its partners to participate in blockchain and cryptocurrency markets, while also serving as educators to the wider public about these technologies.Avalon Lifeoffers a full range of products and services for the blockchain. It was an early provider of mining packages with the X11 algorithm and is the exclusive distribution partner of Bitsurge. As a product developer, the company focuses on using technology to strengthen environmental sustainability and social responsibility.
Avalon Life - Blockchain Technology Solutions & Global Education Programs:http://avalonlifenews.comAvalon Life - on the Significance of Top US Exchanges Launching Bitcoin Futures:https://finance.yahoo.com/news/avalon-life-significance-top-us-194700246.htmlAvalon Life - Discusses the Business Benefits of Blockchain-Based Smart Contracts:https://finance.yahoo.com/news/avalon-life-discusses-business-benefits-034000164.html
Contact Information:
AvalonLifeNews.comhttp://[email protected]
SOURCE:Avalon Life || GE to take $6.2 billion charge related to its legacy reinsurance businesses: General Electric (NYSE: GE) on Tuesday said it will take a $6.2 billion after-tax charge for the fourth quarter of 2017 related to its legacy reinsurance businesses. This is breaking news. Please check back for updates. General Electric (NYSE: GE) on Tuesday said it will take a $6.2 billion after-tax charge for the fourth quarter of 2017 related to its legacy reinsurance businesses. This is breaking news. Please check back for updates.More From CNBC
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• Why 2018 will not be another perfect year for stocks || 3 Reasons Netflix Could Continue to Soar and 1 Reason It Might Not: Early last week, shares ofNetflix Inc.(NASDAQ: NFLX)jumped on word of multiple analysts' upgrades. While serious investors don't normally make their buy and sell decisions based on these random upgrades and downgrades themselves, it can be informative to look at the specific points detailed by the analysts to determine if they have any bearing on your investment thesis.
Tim Nollen and other analysts from Macquarie Research sent a note to clients upgrading Netflix shares to outperform from neutral (which is essentially increasing it to a buy rating from a hold), while raising his price target from $200 to $220. At the same time, Loop Capital Markets analyst David Miller reiterated his buy rating on the stock and called it his "best idea of 2018" while raising his price target from $237 to $240.
Let's look at their reasoning to see what caused them to make their bullish calls.
Netflix got two bullish upgrades in one day. Image source: Netflix.
Nollen, lead analyst for Macquarie, cited subscription models as having greater opportunities than their ad-driven peers. "Consumers' increasing lack of tolerance for advertising drives them to subscription OTT (over-the-top television) services, and Netflix is miles ahead of peers," he said.
He also pointed to specific strengths for Netflix, saying it bested streaming competitors, "in terms of programming hours, original content quality and time spent, and we don't expect this to change.Netflix has won." (Emphasis mine.)
The strength of its original programming led Netflix to increase prices this year, one factor cited by Nollen and his team for the upgrade.
Netflix is working to expand its library of content around the globe, having found that members seek out the best content, even across language barriers. Netflix CEO Reed Hastings has cited Brazilian sci-fi hit3%as an example, saying that the program has been well received in the U.S., Spain, and Germany.
In its 2017 second quarter, Netflix had a gain in streaming subscribers that far exceeded its forecast, adding 5.2 million new members compared to the 3.2 million it expected. In seeking to explain the discrepancy, Netflix said, "We underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories."
Miller thinks that 2018 will see a greater degree of operating leverage for the streaming pioneer than what it saw in 2017. Netflix has much of the infrastructure in place, allowing it to divide its fixed costs over a growing number of subscribers. This will eventually be true of its content expenditures as well, once the company has completed the build-out of its programming library. When Netflix owns the content it produces, each program ends up with a lower cost per customer -- currently over 100 million subscribers and growing. This combination of factors will allow the company to increase its operating margins and drop more to the bottom line.
"While last year's subscriber growth was notable, we expect to see true operating leverage out of Netflix this year, and we believe the company is poised to deliver that at a level well beyond what we witnessed in 2017," stated Miller in his report.
Owning its own content has other benefits. Nollen thinks Netflix will increase the percentage of original content from an estimated 25% in 2017 to 60% in 2020, saving the company $2 billion annually in licensing fees.
The most frequently cited bear argument against owning Netflix is the company's increasingnegative free cash flow (FCF), as Nollen noted in his report. The company is spending all the cash it generates and billions more to finance its continued expansion into overseas markets. This global roll-out is capital intensive, as the company builds the content library for each country from the ground up. This requires spending heavily upfront, but produces greater subscriber growth down the road. Netflix acknowledged the conundrum in itsJuly 2017 shareholder letter, saying:
"With our content strategy paying off in strong member, revenue and profit growth, we think it's wise to continue to invest. In continued success, we will deploy increased capital in content, particularly in owned originals, and, as we have said before, we expect to be FCF negative for many years."
Netflix is a story stock -- those who believe in the story are probablyalready investors, and those who don't are on the sidelines. There's an old saying: "For those who believe, no explanation is necessary. For those who do not, no explanation is possible."
I don't think the opinions of these analysts will change the minds of any die-hard believers -- on either side of the argument.
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Danny Venaowns shares of Netflix. The Motley Fool owns shares of and recommends Netflix. The Motley Fool has adisclosure policy. || 4 Reasons Exelixis, Inc. More Than Doubled in 2017: What happened Shares of Exelixis (NASDAQ: EXEL) , a biotech company focused on the development of therapies to treat cancer, exploded higher by 104% in 2017, according to data from S&P Global Market Intelligence . The catalysts behind this move all tie in, some way or another, with the company's lead drug, Cabometyx. So what If we were to single out perhaps the biggest market-moving event of the year for Exelixis, it probably was the mid-June announcement that an independent radiology committee review confirmed the results from the company's phase 2 Cabosun study involving Cabometyx in first-line advanced renal cell carcinoma (RCC). A businessman holding up a card that says FDA approved. Image source: Getty Images. In May 2016, Exelixis had announced that Cabosun met its primary endpoint of a statistically significant and clinically meaningful improvement in progression-free survival in a head-to-head against current standard-of-care in first-line advanced RCC, Pfizer 's (NYSE: PFE) Sutent. Having already been approved to treat second-line advanced RCC, the strong results from the phase 2 Cabosun study allowed for an expedited supplemental new drug application to expand the drug's label. Second, just last month, the Food and Drug Administration announced that it had approved Cabometyx in first-line advanced RCC , based on the results of the Cabosun study. Unlike second-line RCC, where Cabometyx hit pharmacy shelves after cancer immunotherapy Opdivo from Bristol-Myers Squibb (NYSE: BMY) , the Cabosun results and FDA approval gave Cabometyx a foot in the door ahead of Bristol-Myers on this occasion. Not to mention, first-line advanced RCC is an even larger patient pool than second-line RCC. Third, we can't overlook the other important study on the docket last year: the phase 3 Celestial trial. Cabometyx met its primary endpoint of a statistically significant and clinically meaningful improvement in median overall survival compared to placebo in patients with advanced hepatocellular carcinoma (HCC). It looks to have a very good chance of yet another label expansion in 2018. Story continues And finally, Exelixis had a tendency to trounce Wall Street's sales and profit expectations in all four quarters last year. Exelixis topped Wall Street's earnings-per-share expectations by $0.13, $0.06, $0.02, and $0.18, in Q4 2016, and then Q1, Q2, and Q3 of 2017, respectively. This is a result of Cabometyx launching far better than expected out of the gate. Moving into the black on a recurring basis so quickly certainly helped Exelixis' stock. Three institutional investors cheering in front of their computers. Image source: Getty Images. Now what Of course, the big question now is whether Exelixis has more room to run higher. While I would certainly suggest tempering your expectations after its doubling in 2017, I do believe there could be modest upside from here. And I promise that's not just the shareholder in me talking. Beating Bristol-Myers to the punch in first-line advanced RCC, and running circles around Pfizer's Sutent in Cabosun, should allow for a very quick uptick in sales of the drug over the next two to three years as it gains market share. Though Exelixis doesn't have its foot in the door in advanced HCC yet, it should within the next couple of months. By 2019 or 2020, we should be talking about a blockbuster drug with $1 billion or more in annual sales. Despite the run-up in Exelixis' share price, the company is only valued at roughly 18 times its 2020 EPS. Though that's looking pretty far down the road, the new indications Cabometyx has and should tack on, along with ongoing partnered studies with Bristol-Myers' Opdivo that could translate into additional label expansion opportunities, leave plenty of room for margin and EPS expansion. It may also attract Big Pharma buyers that are interested in adding a fast-growing biotech like Exelixis to their pipeline. Long story short, this shareholder still sees blue skies and modest upside for Exelixis in 2018. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Sean Williams owns shares of Exelixis. The Motley Fool owns shares of and recommends Exelixis. The Motley Fool has a disclosure policy . || Bitcoin and Ethereum Price Forecast – BTC Continues Strongly, ETH Rockets Through $1000: The controlled nature of the moves in the bitcoin market are there for everyone to see. Ever since the introduction of the bitcoin futures around a month back, we have seen a large scale correction followed by some consolidation and now we are see some controlled uptrend, all signs of a mature market that is seeing the entry and playing of some large traders and investors. Ever since the futures were introduced, we had said that this was a seismic event in the growth of bitcoins and that it could change the way bitcoins are traded, forever. While it gave some additional credentials to the bitcoin industry, it also helped to draw in bigger players who would ensure that the market is kept under control.
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This is the reason why we are seeing the prices moving much slower than usual, which isnt small in any case, as we see more and more speculators vacate the space for the bigger traders and investors and move on to greener pastures in the form of altcoins which are likely to reward them with quicker and better returns. This is why we are seeing many of the altcoins do well as the BTC prices hover around the $16,000 range.
We have been saying for long that the year 2018 could well be the year of ethereum and so far, it has been doing well. As the focus shifts from the BTC market due to the regulatory and other issues, the ETH market seems to have become the main beneficiary as the prices have been shooting higher. We have been mentioning that the prices would crack $1000 by the end of the first week of January and that has been the case as the prices have shot through $1000 and now trade just below the $1200 region as of this writing.
Looking ahead to the rest of the day, expect some more consolidation with a bullish bias in the BTC market. On the other hand, expect the bullishness in the ETH market to continue as we see more and more traders and investors shift to this market in the hope of better returns.
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Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Traders Should Focus on Fed Speakers || South Korea to ban cryptocurrency traders from using anonymous bank accounts: By Cynthia Kim SEOUL (Reuters) - South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, regulators said on Tuesday in a widely telegraphed move designed to stop virtual coins from being used for money laundering and other crimes. The measure comes on top of stepped up efforts by Seoul to temper South Koreans' obsession with cryptocurrencies. Everyone from housewives to college students and office workers have rushed to trade the market despite warnings from global policymakers about investing in an asset that lacks broad regulatory oversight. The bitcoin price in South Korea extended loss following the latest regulatory announcement, down 3.34 percent at $12,699 as of 0409 GMT, according to Bithumb, the country's second-largest virtual currency exchange. Bitcoin (BTC=BTSP) slumped nearly 20 percent last week to a four-week low on the Luxembourg-based Bitstamp exchange, pressured by worries over a possible ban on trading the virtual asset in South Korean exchanges. In Tuesday afternoon trade, it was up 5.4 percent at $10,925. Policy makers around the world are calling for tougher, coordinated regulation of cryptocurrency trading. South Korea's chief financial regulator last week said the government may consider shutting down domestic virtual currency exchanges. South Korea's Presidential office has clarified that an outright ban on trading on the virtual currency exchanges is only one of the steps being considered, and not a measure that has been finalized. "The government is still discussing whether an outright ban is needed or not, internally," a government official who declined to be named said after Tuesday's briefing. Over the past month, government statements have underscored differences between the Justice Ministry, which has pushed for a more hardline approach, and regulators who have shown a reluctance to enforce an outright ban. Starting Jan. 30, cryptocurrency traders in South Korea will not be allowed to make deposits into their virtual currency exchange wallets unless the names on their bank accounts matches the account name in cryptocurrency exchanges, Kim Yong-beom, vice chairman of the Financial Services Commission told a news conference in Seoul. Story continues "Everyone knew this was coming, as the government already said they will enforce the real-name system before. Rather, I can see this as a chance to go in, not out. I don't see any reason to take my money out," said a local bitcoin investor who only agreed to be identified by his family name Ahn. The regulator has previously said it will come up with detailed guidelines for local banks to properly identify its clients by their real names in cryptocurrency transactions. To make deposits into virtual coin wallets, cryptocurrency traders will need to identify themselves with their real names at the exchange and have those matched with information at local banks by Jan. 30. (Reporting by Cynthia Kim; Additional reporting by Dahee Kim; Editing by Sam Holmes & Shri Navaratnam) || Why IAMGOLD Corporation Stock Soared 51% in 2017: Shares ofIAMGOLD Corporation(NYSE: IAG), a leader in gold mining, soared 51% in 2017, according toS&P; Global Market Intelligence. Besides gaining favor on Wall Street, progress with a development project and improvements in thecompany's financesprovided investors with several reasons to celebrate.
Building on the momentum it picked up in 2016, when analysts upgraded the stock six times, IAMGOLD received five upgrades from analysts in 2017. Of all the bullish sentiment exuded by the Street, investors, perhaps, found the most compelling rating change from Credit Suisse. Whereas it had downgraded the stock to underperform in January, Credit Suisse upgraded it to neutral only four months later.
Image source: Getty Images.
In terms of the company's future, IAMGOLD inspired optimism when it announced positive results from a pre-feasibility study (PFS) for the Cote Gold Project. According to the study, the project has a mine life of 17 years and will average annual gold production of 207,000 ounces. With all-in sustaining costs (AISC) of $689 per gold ounce, the project is expected to provide -- with gold priced at $1,250 per ounce -- a 14% internal rate of return after taxes.
Another positive aspect of the PFS for Cote Gold is the fact that it adds 3.8 million gold ounces to IAMGOLD's reserves. Combined with the updated gold reserve figure at Rosebel -- an increase of 80% -- IAMGOLD's attributable gold reserves now stand at 13.2 million ounces, representing a 69% increase over the 7.8 million ounces it reported in December 2016.
Turning to the company's financials, investors found various reasons to celebrate throughout the year. In the first-quarter earnings report, the company reported AISC of $992 per gold ounce -- a 8% year-over-year improvement. Successfully reducing costs, in part, contributed to improving profitability. In the Q2 2017 earnings report, for example, IAMGOLD reported a gross profit of $71 million through the first half of fiscal 2017, representing a 129% increase over the same period in 2016. Pleasing investors further, the company reported $157 million in operational cash flow through the first half of the year, representing a 29% increase over the same period in 2016. And in the third quarter, IAMGOLD lowered its fiscal 2017 AISC guidance $40 per gold ounce at the upper end of the range; consequently, management now expects fiscal 2017 AISC per gold ounce between $1,000 and $1,040. If the company achieves the midpoint of this guidance, it will represent a 3.5% reduction over the $1,057 AISC that IAMGOLD reported for fiscal 2016.
Undoubtedly, bullish sentiment from the Street can boost shareholders' confidence. However, it should often be taken with a grain of salt, since analysts usually consider stocks within shorter time horizons. In addition, replenishing gold reserves is essential for any gold miner's success, and the 69% increase in IAMGOLD's gold reserves compared to December 2016 indicates that the road into IAMGOLD's future may be paved with yellow brick. The crucial thing for investors to monitor is whether IAMGOLD is successful at executing the development of the Cote Gold project.
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Scott Levinehas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Ex-Cisco CEO John Chambers has a new venture capital firm: John Chambers, the ex-CEO of Cisco who spent 20 years running the networking giant before stepping down in 2015, is turning his attention to venture capital.
The self-funded firm, JC2 Ventures, will back at least a dozen companies that have the potential to go public, according to multiple media reports. Chambers will focus on areas like the Internet of Things, digital communications, security and agriculture.
The firm has 8 companies in its portfolio so far, including drone software developer Airware and social media management company Sprinklr.
As CEO and chairman of Cisco, Chambers guided the company through the dot-com bubble and bust as well as the recession. He left the chairman role in December.
Chambers has been outspoken about the issues facing Silicon Valley, including how the lack of IPOs could dampen job growth. He said late last year that he wanted to "change the world" with start-up investing and that he wanted to see at least one female interviewed for each opening in a start-up.
Chambers told CNBC that he thought tax reform and reduced regulation from the Republican party would help start-ups. Changes to the tax code, he said, would allow companies to bring cash back to the U .S. at a tax rate, giving them a bigger incentive to make acquisitions.
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• Google wants to make A.I. easier to use, starting with image recognition || 3 Dividend Stocks That Are Perfect for Retirement: Every retiree's stock portfolio needs a few high-quality dividend stocks. That means looking beyond the plain dividend yields to consider factors such as payout growth, cash-backed dividend policies, and a high-quality business that will support generous dividend payments for many years to come. In search of exactly that kind of all-round cash machine, we asked a handful of your fellow investors here at The Motley Fool to share their best postretirement income stock ideas. Read on to see how they came up with International Business Machines (NYSE: IBM) , NextEra Energy Partners (NYSE: NEP) , and Johnson & Johnson (NYSE: JNJ) . Three piles of gold coins, resting on a spiral-bound calendar Image source: Getty Images. An energy dividend you can count on Travis Hoium (NextEra Energy Partners): Investing in retirement should not require a lot of risk-taking or thought. That's why I think NextEra Energy Partners is a perfect stock for retirees . NextEra Energy Partners is a yieldco, a company that owns renewable energy assets that pay dividends from the ongoing cash flow generated by the assets. It owns 3.7 gigawatts of wind and solar assets with contracts to sell energy to utilities for, on average, the next 18 years . That ensures cash flow that will fund the existing dividend yield of 3.8% for nearly two decades, but there are growth opportunities as well. Yieldcos buy new renewable energy assets either by using excess cash from operations or through issuing new debt and equity. In the latter case, having a low dividend means a yieldco's cost of capital is low, and projects acquired will be accretive to the dividend. NextEra Energy Partners' 3.8% yield is low by yieldco standards, and that makes it easy to buy projects and grow the dividend long-term. Management has already said it will be able to grow the dividend 12% to 15% through 2022, which means it will rise to as high as $3.26 per share -- a 7.8% yield at today's stock price -- by the end of 2020. If a stable, growing dividend is what you're looking for in retirement, this is the perfect stock for you. Story continues Big Blue won't let you down Anders Bylund (IBM): Big Blue has been around for more than a century, and is setting itself up for several more decades of serious business. And I don't think you'll find a company more committed to the idea of direct shareholder cash returns than IBM. The dividend payouts have seen uninterrupted increases since 1995, creating an unbroken 22-year streak of annual boosts. The payout per share has grown a heart-stopping 1,400% larger in the last 20 years. Over the same period, IBM spent more than $115 billion on share buybacks -- another method of shoveling cash flows directly into investors' pockets. Those cash contributions are making a big difference for IBM's shareholders. Over the last two decades, IBM's market cap has grown just 48% larger. But thanks to the generous buybacks, stockholders saw share prices triple. And if you reinvested the dividends into more IBM stock along the way, you'd have a 320% return instead -- more than quadrupling your money: IBM Chart IBM data by YCharts . The buybacks and dividend increases keep coming through thick and thin. Big Blue has been known to take on more debt in order to finance these policies when cash flows run low. That's not an issue today, since IBM's trailing free cash flows stand at $11 billion. In the last four quarters, 30% of that cash went to share buybacks, while 50% was earmarked for dividend checks. All told, IBM's dividend yield has soared to 3.7% recently, a level not seen since the mid-1990s (and even then, only temporarily). This is the kind of ironclad dividend policy you want to see when collecting income from your retirement nest egg. On top of that, IBM is a just-plain-good investment right now , set to increase in value after a few lean years. Might as well lock in those juicy yields while share prices are low. A bulletproof healthcare stock Jeremy Bowman (Johnson & Johnson): Retirees want safety and security in their investments, and when I think of a stock that will deliver in any kind of market environment, I think of Johnson & Johnson. The diversified healthcare giant has been around since 1886, and since it operates in the healthcare sector, it isn't subject to the whims of the cyclical economy -- people get sick no matter what the unemployment rate is. Though the company does compete in pharmaceuticals, it also makes medical devices and consumer products like Tylenol and Band-Aids, so it's not as sensitive to the "patent cliff" that can make pure-play pharma companies like Pfizer or Merck risky. J&J is one of only two companies ( Microsoft is the other) with the highest AAA credit rating from Standard & Poor's, another testament to its rock-solid balance sheet. As a dividend payer, the conglomerate is no slouch either. Johnson & Johnson is a Dividend Aristocrat , having hiked its dividend payout for a whopping 55 years in a row. Today, it offers a dividend yield of 2.4%, and a modest payout ratio of 46%, meaning it has plenty of room to continue raising its dividends. The company has lifted the payout by 5% or more for at least the last 25 years, and is due for another hike in the coming months. Considering the projected growth in the health sector as baby boomers reach retirement age, the company's strength in medical devices, and the stock's defensive position as a dividend-paying healthcare specialist, Johnson & Johnson should continue to be a rewarding dividend stock for retirees to own. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool’s board of directors; LinkedIn is owned by Microsoft. Anders Bylund owns shares of IBM. Jeremy Bowman has no position in any of the stocks mentioned. Travis Hoium owns shares of Johnson & Johnson and NextEra Energy Partners. The Motley Fool owns shares of and recommends Johnson & Johnson. The Motley Fool has a disclosure policy . || The 4 Best Oil Stocks of 2017: Oil stocks are flops. That may have been true in 2014, 2015, and even 2016, but in 2017, oil prices finally began to rise significantly above the critical $50-per-barrel mark. And oil and gas industry companies were poised to benefit. However, some benefited a bit more than others -- particularly Royal Dutch Shell (NYSE: RDS-A) (NYSE: RDS-B) , Statoil (NYSE: STO) , HollyFrontier (NYSE: HFC) , and ConocoPhillips (NYSE: COP) . Here's why they did so well, and what to expect from them in 2018. A smiling man raises his arms next to an oil barrel above which is a cloud of paper money. If you were lucky enough to buy one of these four oil industry stocks at the beginning of 2017, you should be happy with their outperformance. But will they do it again in 2018? Image source: Getty Images. Royal Dutch Shell: Best of the biggest The best oil stock of 2017 -- by just about any measure -- was Royal Dutch Shell. The oil major not only had an impressive stock rally, up 22.7% for the year, but also has one of the best dividend yields in the entire oil industry, at more than 5.6% (only BP 's is higher, at about 5.7%). The company's outperformance was far from a sure thing, though. In 2016, Shell took on about $50 billion in debt to acquire BG Group. While the acquisition increased Shell's exposure to the up-and-coming liquefied natural gas market, management announced it would sell $30 billion in non-core assets to try to get a handle on the company's debt. Shell's return metrics -- a measure of how well management is deploying the company's capital -- have also improved, as has the company's cash flow, thanks to some smart cost-cutting measures . Ultimately, Shell seems to simply be running more efficiently, and the market has taken notice. With oil prices on the rise, expect Shell to continue to outperform. Statoil: Back in the game Statoil had a surprisingly strong 2017. I say "surprisingly" because the company posted some big losses in 2015 and seemed headed for middling production growth. Fast-forward to last year, and the company was able -- like many of its peers -- to successfully cut costs and generate a decent amount of cash flow at $50-per-barrel oil. In addition, Statoil has some ambitious projects in its pipeline, including a pair of offshore blocks in Suriname, right next door to ExxonMobil 's promising Liza discovery in Guyana. Story continues All that was enough to boost the company's stock by 17.4% in 2017. Couple that with a 4.1% dividend yield, and Statoil looks like a compelling prospect for 2018. ConocoPhillips: Winning the losers' game The largest independent U.S. oil and gas exploration and production company (E&P) was also 2017's biggest winner among its peers, with a stock price that rose 9.5% during the year. That isn't nearly as much as Statoil or Shell, of course, but considering that many E&Ps finished the year down 20% -- or more -- Conoco represents a rare bright spot in this corner of the industry. Unsurprisingly, the company outperformed for many of the same reasons that Statoil and Shell did. It got rid of underperforming assets and used the cash to pay down debt, like Shell. It cut costs like Statoil. It also unveiled a clear shareholder-friendly plan and began executing it, to the delight of its investors. Conoco will continue to reward shareholders into 2018, but there's a very strong case to be made that there are probably better values among the E&Ps whose shares were hammered in 2017 but that have made similar moves and will benefit from the same industry trends that boosted Conoco this year. HollyFrontier: Top of the heap The most impressive performances in the industry came from some of the midstream (transportation and storage) and downstream (refining and marketing) companies. While several midstream-only companies -- particularly pipeline operators -- were down by more than 20% for the year, many downstream companies like Valero Energy , Phillips 66 , and Marathon Petroleum were up by double digits. The biggest win among the large- and mid-cap refiners, though, was HollyFrontier, which saw its stock rise a jaw-dropping 56.4% in 2017, outpacing every other large- or mid-cap company in the industry. Even more impressive, that's not just a one-year fluke. Over the last three years, HollyFrontier's share price has risen 36.7%, while many upstream or integrated companies' stocks -- including those of Conoco and Shell -- are down over the same period. HollyFrontier rode the same trends as its peers : An improving refining market and a busy summer driving season led to increased demand for refined petroleum products. HollyFrontier was ahead of the pack thanks to some savvy moves to take advantage of the price discounts from harder-to-process crudes from Canada and elsewhere. While we can't be sure whether the refining trend will continue, Holly's 2.6% dividend yield and past success should bode well for its continued performance versus its peers. Investor takeaway 2017's biggest winners are unlikely to be 2018's biggest winners, but all of these companies should do well, thanks to rising oil prices and improved fundamentals. However, investors may have better luck looking at the companies the market left behind in 2017 but that are still poised to benefit from the same trends as 2017's big winners. That way, there's a better chance that the biggest returns haven't already occurred. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Bromels owns shares of HollyFrontier. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin TA: Repreive at $6000 https://www.coinpowr.com/home/2018/2/6/bitcoin-btcusd-finally-finds-some-reprieve-at-6000 … || The most and least expensive countries in the world to mine bitcoin
http://crwd.fr/2EfZl7e || Los bancos centrales ven en el bitcoin una mezcla de “burbuja, fraude Ponzi y desastre medioambiental” http://ift.tt/2C06N3B #bitcoin || ¿Qué esta pasando con Bitcoin? http://www.foronegocios.net/otros-negocios-e-inversiones/108-que-esta-pasando-con-bitcoin.html#.WnoKReqG1_I.twitter … #Bitcoin #criptomonedas #cryptocurrency || @ethngo @forteeeey @russel8081 @wawielumacang
#Airdrop #Bitcoin #Blockchain #Bilibit #XRP
#Cryptocurrencies #Ethereum Join Bilibit Airdrop To get 1500 BLBhttps://docs.google.com/forms/d/e/1FAIpQLSekLrgS6tB9PAtPRUMooVDml3mXVkdJxAmkk3wDhOFhl2rLIg/viewform … || Senin almaya cesaret edemediğin riskleri alanlar , senin hayal ettiğin hayatı yaşarlar. #bitcoin hala almaz mısın ? || BTC Price: 15204.00$,
BTC Today High : 15309.40$,
BTC All Time High : 19903.44$
ETH Price: 1179.24$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/k7FG7GHpcy || How can I go to sleep with all these short opportunities that keep popping up?
$XBT $BTC #bitcoin #bitmex #crypto #cryptocurrencypic.twitter.com/e1i1kIv7j1 || Bitcoin is getting smashed - Business Insider http://dlvr.it/QFCj9T #bitcoin #news || JPY⇒アルトコイン⇒BTC⇒USDT⇒USDキャッシュ
な～んて、構図もあるのでしょうか？？
もし今晩のテザーの諮問で白と出れば、それはそれでどうなんやろう？って感じですが、またBTC主導で仮想通貨界隈全体の活況が出てくるのかもしれませんね・・・
兎に角、XRPの価格上昇は一癖二癖ありますねぇ・・・
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Trend: down || Prices: 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-05-30]
BTC Price: 8319.47, BTC RSI: 62.80
Gold Price: 1287.10, Gold RSI: 52.81
Oil Price: 56.59, Oil RSI: 29.90
[Random Sample of News (last 60 days)]
Low-cap privacy coins to watch out for: Zcash, Verge, and Grin: The two most widely-used privacy-based cryptocurrencies today are Monero (XMR) and Dash (DASH). Away from these two, Zcash (ZEC), Verge (XVG), and Grin are lagging behind in terms of adoption, market cap, and price at the time of writing, but they could one day be much more widely adopted as privacy coins grow in popularity. This is because Zcash has strong technology, Verge has a huge community of users and supporters, and Grin is one of the best privacy and fungibility technologies ever implemented in the cryptocurrency space. Let’s take a quick look at each individually. Zcash Zcash is a privacy-protecting digital currency built on strong science. It helps users transact efficiently and safely with low fees while ensuring digital transactions remain private. Zcash addresses are either private (z-addresses) or transparent (t-addresses). A z-to-z transaction appears on the public blockchain, so it is known that the fees were paid and the transaction occurred. But the addresses, transaction amount, and memo field are all encrypted and not publicly visible. Using encryption on a blockchain is only possible through the use of zero-knowledge proofs. Zcash uses zk-SNARKs, an inventive form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions can be fully encrypted on the blockchain yet still be verified as valid under the network’s consensus rules using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge” and refers to a proof construction where one can prove possession of certain information (for example, a secret key) without revealing that information. In order to be private yet still allow users to remain compliant with regulatory bodies, an owner of an address may choose to disclose their z-address and transaction details with trusted third parties through the use of view keys and payment disclosure. Story continues The two Zcash address types are also interoperable. Funds can be transferred between z-addresses and t-addresses. In terms of price, Zcash has been falling off a cliff since June 2018. It was during this time that the 20-day EMA crossed the 50-day EMA to the downside, which is a really bearish signal. Soon after, the market collapsed, and Zcash has since been trading lower and lower against BTC every month. ZEC went from around 2,900,000 satoshis to about 786,000 satoshis at its lowest point during mid-May 2019. That’s a 72% drop in less than one year. During this month, we saw a small recovery when ZEC went from its lowest point up to about 1,020,000 satoshis – a 20% increase in just a few days. It has corrected since then, but it seems to be holding close to its support around 860,000 satoshis. If ZEC is able to hold the line and avoid new lows, I’m expecting buyers to remain in charge and price to start moving in an upwards direction for a longer period. It all depends on BTC’s performance against the USD. However, from a fundamentals perspective, I don’t really see a reason for a sudden decline. Verge Verge (XVG) is a cryptocurrency built with an emphasis on privacy and confidentiality. The XVG token utilises anonymity-centric networks such as TOR and I2P to make sure the IP addresses of its users are obfuscated and transactions are completely untraceable. Verge started as DogeCoinDark back in 2014 before undergoing a rebrand in 2016, which makes it one of the older anonymous coins available. Much like Dash, Verge wasn’t originally built for privacy, meaning its core protocol simply hides transactions through transaction mixing and IP addresses with multiple layers of routing. XVG is used primarily for its cheap transaction fees and quick transaction speeds. Looking at XVG’s price performance, we can clearly see it has been in a bearish downtrend since early 2018. It has lost close to 85% of its value during this bear market. Now, it seems buyers are back in business and want price to move in an upwards direction. At the moment, XVG is trading close to its 20-day EMA at around 124 satoshis. If XVG is able to remain above its 20-day and 50-day EMAs over the next few weeks and find new support around 165 satoshis, I don’t see a reason for price not to explode. There’s loads of volume around 165 satoshis, which means if Verge buyers remain on top around this level, we could soon see XVG moving in an upwards direction. We also shouldn’t forget that XVG survived a 51% attack during 2019 – a clear sign of strength. Even though it might be too soon to make an entry, I’m definitely starting to pay close attention to Verge, as I feel the time to make a new buy could be arriving soon. Grin Grin is a brand new cryptocurrency released in 2019 with the goal of allowing users to transact completely privately and quickly. Grin’s aim is to allow for a private cash-based system. As such, its blockchain is incredibly scalable. The technology behind Grin is Mimblewimble, which contains confidential transactions that allow for public verification of transactions without revealing any significant details such as amounts or addresses. Simply put, in Grin, there are no transactions or addresses. The blockchain is like a huge UTXO that keeps updating with new transactions, meaning each user keeps their own record and the ledger just records the latest blockchain state. Grin is the earliest implementation of Mimblewimble and is completely open source. Much like Verge and Dash, Grin has been quite bearish during the past few months. Because it is a very recent implementation of the newest privacy and fungibility focus protocol Mimblewimble, the market has been quite unsure about its fundamentals, which is clearly reflected in its price. From late March until mid-May, Grin has lost about 80% of its value against BTC, falling from 110,000 satoshis to close to 23,000 satoshis. At the moment, it’s currently trading around 28,000 satoshis, about 3% higher than its bottom. Grin still has quite low volume, meaning it’s a dangerous coin to trade and invest in. Nevertheless, fundamentals remain quite strong and I expect that to reflect in price over the year. Safe trades! The post Low-cap privacy coins to watch out for: Zcash, Verge, and Grin appeared first on Coin Rivet . || Bitcoin’s Lightning Comes to Apple Smartwatches With New App: You can now receive bitcoin’s experimental lightning payments with a few taps of an Apple smartwatch.
Launched Sunday by Bluewallet, one of the more popular lightning network wallets, theirnew app for Apple Watchesallows users to receive bitcoin over its new, risky (butnonetheless promising) payment technology: lightning. Transactors can use the smartwatch app to generate a QR code — a square-shaped barcode — that someone else can then scan with their smartphone to send over a payment.
Bluewallet tweeted asneak peekof the app weeks ago. But as of today, it’s officially downloadable from the iTunes store.
Ex-Ripple CTO Launches Blogging Platform to Pay Content Creators XRP
Product and UX engineer Nuno Coelho framed the app as an experiment, telling CoinDesk:
“It’s a small experiment we’re doing to put wallets on the watch. The first releases will be simple, allowing you to receive lightning payments.”
Why might someone want to receive lightning transactions via a smart watch? you might ask. Smart watches aren’t as popular as smartphones, but many use them for the convenience of tracking health and viewing phone notifications without actually pulling out the phone.
Bluewallet, to that end, is testing to see if users might like to use them for bitcoin payments as well.
Bitcoin Startup Unveils ‘Thunder Bird’ Lightning Code for IoT Devices
“Sometimes the convenience of just [receiving bitcoin] with two taps from your wrist can be a relevant user experience, specially on the go or if you need to be fast,” Coehlo said, adding it might be useful if you’re buying bitcoin from someone, but “don’t feel comfortable” taking out your phone, you could just use the watch instead.
But Coehlo stresses that this is an experiment, since lightning technology itself is still very experimental, and they’re not sure how many users will actually want to use the app.
“If feedback is good, we’ll spend more time on the project,” he told CoinDesk. “It’s a very early stage industry so we’re trying to figure out how to build this stuff properly.”
Bluewallet, helmed by a team of three developers, is also working on other features to expand the wallet. “We would also like to move from being a third-party service, minimizing trust. That’s our most important goal at the moment,” Coehlo said.
Image via Bluewallet
• New Code Helps Lightning Users Protect Their Bitcoin from File Corruption
• Lightning Labs Launches Desktop App on Bitcoin Mainnet || AUD/USD Forex Technical Analysis – Price Action Being Controlled by Series of Retracement Levels: The Australian Dollar posted a two-side trade before closing lower on Friday. The price action was fueled by a mixed reaction to the U.S. Non-Farm Payrolls report.
The headline number grabbed the attention of traders initially, but conditions settled almost immediately after traders saw the wage data. Non-farm payrolls rose by 196,000 jobs, beating the 172,000 jobs estimate. Furthermore, last month’s dismal 20,000 jobs gain was raised slightly to 33,000. The unemployment rate came in at 3.8 percent, matching February’s numbers and the estimate.
Wage gains for March were disappointing, showing average hour earnings increased by only four cents, or 0.1 percent after climbing 0.4 percent in February.
Despite the mixed U.S. jobs report, the Aussie felt pressure from traders betting on a rate cut by the Reserve Bank of Australia (RBA) later in the year.
On Friday, theAUD/USDsettled at .7105, down -0.0009 or -0.13%.
The main trend is up according to the daily swing chart. However, it’s difficult to tell because looking at the chart from early December suggests a sideways-to-lower trade.
A move through .7052 will change the main trend to down. A trade through .7168 will reaffirm the uptrend.
Most of the price action lately has been dictated by trader reaction to three retracement zones.
The main range is .7394 to .6764. Its retracement zone is .7079 to .7153. The AUD/USD closed inside this zone on Friday. It is controlling the longer-term direction of the Forex pair.
The intermediate-term range is .6764 to .7296. Its retracement zone at .7030 to .6967 is providing support.
The short-term range is .7296 to .7003. Its retracement zone at .7150 to .7184 is resistance.
Combining the retracement zones indicates the key area to watch is a resistance cluster at .7150 to .7153. This area is essentially controlling the longer-term direction of the AUD/USD.
Friday’s close fell inside a 50% level at .7079 and a resistance zone at .7150 to .7153. Trader reaction to these levels will set the tone for the week. Trading inside .7079 to .7153 will indicate a neutral market.
In order to generate a strong upside bias, buyers are going to have to overcome .7153, .7168, .7184 and .7207 in succession.
Selling pressure is likely to increase if .7079 fails as support. However, sellers will still have to take out .7052, .7041 and .7030 in order to trigger an acceleration to the downside.
The AUD/USD is likely to continue to trade rangebound until the RBA changes policy and indicates its next move will likely be a rate cut. At least that’s what the bearish traders are betting on.
Thisarticlewas originally posted on FX Empire
• Forex Daily Recap – The Greenback Accumulates More Power Despite US Mixed Job Reports
• AUD/USD Forex Technical Analysis – Price Action Being Controlled by Series of Retracement Levels
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/04/19
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/04/19
• EUR/USD Forex Technical Analysis – Investors Vigorously Defending Major Fibonacci Level at 1.1185
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strong Breakout Over 7616.25 Targets 7767.00 Main Top || GBP/USD Daily Price Forecast The Cable Lost Strength Amid the Pessimist Brexit Sentiments: The Cable stepped into Friday trading session and looked in continuance with yesterdays hangover. On the last day, the BoE Governor Mark Carney had displayed a bearish sentiment over Brexit. This pessimism of the Central Bank on UK-EU divorce slapped the Cable, making it fall 0.47 percent. The plunge had worsened over upbeat US Employment figures and Factory Order data. The GBP/USD pair rang the opening bell on Friday morning near 1.3034 levels. The pair had already touched 1.3044 levels marking fresh days high. However, the trend got reversed from that point. The pair drove down crossing the opening line. There remains a strong support line near 1.3032 levels. The Cable had rebounded from this strong support line twice in the Asian session. The Greenback was heading towards the robust 97.88 resistance levels. Todays lined up GBP Markit Services PMI, and the CFTC NC Net positions are estimated to come bullish. If these figures go up, the Cable may tower ahead in the day. At the time 08:15 GMT, the GBP/USD pair was trading around 1.3026 levels. A few moments ago, The GBP April Markit Services PMI came out to 50.4 points in the Asian session. The previous PMI was 48.9 points. Cable Influencing Events GBP Specific Events 19:30 GMT CFTC GBP NC Net Position The previous Net Positions was around negative 1.8K Pounds. USD Specific Events for April 12:30 GMT There are two high volatile events while three medium volatile events at this time frame. High Volatile Events: Average Hourly Earnings YoY (market stay bullish) Non-farm Payrolls (market stay bearish) Medium Volatile Events: Labor Force Participation Rate (last reported around 63 percent) Average Hourly Earnings MoM (market stay bullish) Unemployment Rate (in-line expectation around 3.8 percent) 13:45 GMT Markit PMI Composite (last reported around 52.8 points) Markit Services PMI (in-line expectation around 52.9 points) 14:00 GMT ISM Non-Manufacturing PMI (market stay bullish) Story continues Technical Analysis GBPUSD 60 Min 03 May 2019 The GBP/USD pair was moving into the Ichimoku cloud . The pair was trending below the EMA and remained in the lower vicinity of the Ichimoku cloud. The support levels were projected near 1.3016 levels while the resistance level stands near 1.3064 levels. The Relative Strength Index (RSI) has remained over 40 levels. The RSI implied a moderate buying sentiment over the GBP/USD pair. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast U.S. Production Surge Loosening Global Supply DASH Technical Analysis Support Levels in Play 03/05/19 Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/05/19 Equities Rebound, Strong Labor Data Lifts Stocks, All-Time Highs In Sight Gold Price Futures (GC) Technical Analysis Testing Last Support Level Before Steep Plunge USD/CAD Daily Price Forecast Low Oil Prices and US PMI Signalling Potential Hike || What is trading volume in cryptocurrency?: Trading volume in cryptocurrency is an essential metric for assessing the health of a particular coin. When attempting to identify early-stage coins with a high chance of success, analysts will always examine their trading volumes along with other key metrics such as market capitalisation and circulating supply. So what exactly is trading volume in cryptocurrency and why does it matter? Trading volume is one of the most prominent metrics Trading volume is so important because it can help you to identify a coins possible direction. Take a quick glance at sites such as CoinMarketCap and youll see the volume reported over 24 hours. Check any coin on any given day and the trading volume will be different. Lets say that Binance Coin (BNB) traded $178,951,869 USD in 24 hours. This is usually also expressed in relation to how many Bitcoins (43,744 BTC) and, in the case of BNB, how many ETH (1,269,583 ETH) since BNB is an ERC-20 token. If you click on the volume, it shows how much was traded on each exchange where the coin or token is listed. Over the last 24 hours, with BNB, the lions share of trading volume is unsurprisingly on Binance. But youll also see what the token has been traded with, for example BTC, ETH, and mainly USDT. Why is all this so important? Because the amount of the coin or token that is changing hands is an indicator of its popularity as well as market sentiment. It shows how many people are buying or selling and can help identify a potential price breakout. Always pay attention to trading volume Traders should always pay attention to trading volume as it gives clues to the strength or weakness of the market for the coin. You can also glean early signs of a possible change in trend, whether bearish or bullish, as you can see how many traders are establishing positions. To do this, however, you cant just look at trading volume one day and not check it the next. One of the best ways of using this metric is by comparing the 24-hour volume of a coin on a major up day against that of a major down day. If a bullish breakout for Bitcoin doesnt follow record volume, it could be what analysts call a false breakout. Story continues However, if BTC price suddenly shoots up and is accompanied by a heavy trading volume, you can see that many people are making moves and deduce that it will likely continue to climb. If the price goes down and there is minimal trading volume, that may reveal a small number of people supporting the downward trend. What else can you find out by looking at volume? Volume is so relevant to traders as they can break it down and examine it in many ways to make an educated prediction on pricing points. They can examine trading volume by 24 hours, a week, or even 30 days. All these results can help them to identify whether a specific coins fluctuations are normal or indicative of a major breakout (or decline). When a coin typically has frequent heavy movements, it will naturally attract less attention when trading volume is high. But when coins usually have lower trading volumes, sudden hefty trading over 24 hours could mean that someone or something is making it move. If a coin suddenly jumps in value by say 25%, that may look good on paper. But if it is experiencing low trading volume, investors may remain cautious. Why? Because it could be a sign that the price hike wont last and that a correction is coming. It could also be that only a few people are trading, meaning crypto whales are manipulating its price. Examining which exchanges are trading the most volume can be revealing as well as you get a snapshot of whos buying. For example, Bithumb is a major exchange in South Korea. Kraken has more customers in Europe. Seeing who is buying and selling could be indicative of the market in a certain area. Which coins are traded the most? There are exceptions, but generally, the bigger coins experience higher trading volume. So, that means that Bitcoin, Ethereum, and Ripple will normally display higher volumes. Litecoin and EOS are lower down on the list by market capitalisation, yet they have higher trading volumes than XRP, so its not a hard and fast rule. According to a recent Bitwise report which shook the market, an astounding 95% of trading volume in cryptocurrency is fake. This is indeed concerning for the industry and for traders following this metric. However, not all exchanges are reporting fake trading volume, so check out the report to see which exchanges are considered reputable, as well as carry out your own research. Wrapping it up Trading volume isnt perfect and merely hints at the sustainability of a given move. A sudden price hike with low volume means you should stay cautious (it may be fools gold). Similarly, a significant drop with considerable volume may point to an extended bear run. Of course, nothing is certain in trading, and even less so in the volatile cryptocurrency markets. But learning to effectively analyse trading volume can give you an extra tool in your kit. The post What is trading volume in cryptocurrency? appeared first on Coin Rivet . || Craig Wright Registers Bitcoin Whitepaper Copyright as Creator Satoshi Nakamoto: Controversial Craig Wright is going all out to insist he's bitcoin's pseudonymous creator Satoshi Nakomoto. | Source: YouTube By CCN : Craig Wright has filed copyright registrations for the bitcoin whitepaper and the early Bitcoin code with the US Copyright Office. It’s the latest step in Craig Wright’s battle to prove he is bitcoin’s creator and the man behind the pseudonym Satoshi Nakamoto. Bitcoin’s mysterious creator finally revealed? Since 2015, Craig Wright, chief scientist of nChain and proponent of Bitcoin SV, has repeatedly claimed he is the creator of the world’s largest cryptocurrency but has been unable to provide hard evidence. Craig Wright filed a copyright registration for the Bitcoin whitepaper https://t.co/aIvg2BbmL2 pic.twitter.com/TVdU62TRRv — Neeraj K. Agrawal (@NeerajKA) May 21, 2019 He was recently asked to provide a list of bitcoin addresses by a US court to back up his claims. A request he complied with, but the addresses were redacted on public release. Copyright registration for bitcoin whitepaper and code Wright has filed copyright registrations for the bitcoin white paper and most of the 0.1 version of Bitcoin’s early software. Below are the two registrations in full: U.S. copyright registration no. TXu 2-136-996, effective date April 11, 2019, for the paper entitled Bitcoin: A Peer-to-Peer Electronic Cash System , with year of completion 2008. The registration recognizes the author as Craig Steven Wright, using the pseudonym Satoshi Nakamoto. U.S. copyright registration no. TX-8-708-058, effective date April 13, 2019, for computer program entitled Bitcoin , with year of completion 2009 and date of first publication January 3, 2009. The registration recognizes the author as Craig Steven Wright, using the pseudonym Satoshi Nakamoto. Wright wrote most of version 0.1 of the Bitcoin client software, and the registration covers the portions he authored. Read the full story on CCN.com . || Bitcoin ETF Setbacks Cost These Crypto Bulls a Mind-Boggling Fortune: ByCCN: Bitcoin Investment Trust (GBTC), described as “the first publicly quoted securities solely invested in and deriving value from the price of bitcoin” is an investment vehicle that enables investors in the public market to purchasebitcoinin a regulated and protected environment.
GBTC is the closest investment vehicle to an exchange-traded fund (ETF) in the sense that it enables investors to invest in bitcoin without having to worry about storing or safekeeping the dominant cryptocurrency.
Traded on OTC Markets, one share of GBTC represents 0.00098409 BTC, about one-thousandth-of-one BTC. Currently, each GBTC share is trading at $6.28, which would put the implied value of bitcoin at $6,179.
The price of Bitcoin Investment Trust shares has increased by nearly 50 percent in the past month. | Source: Yahoo Finance
In contrast, bitcoin is beingtradedin the global cryptocurrency exchange market on regulated exchanges likeCoinbaseandGeminiat $5,165, demonstrating a staggering $1,014 premium versus the spot market.
In other words, secondary market GBTC investors are getting taken to the cleaners to the tune of 18 percent – all because they don’t have access to an actual exchange-traded fund that tracks the fair market price of bitcoin.
Read the full story on CCN.com. || What 'Game of Thrones' and the Crypto Market Have in Common: Last month, millions of viewers tuned into HBO for the premier of the final season of Game of Thrones. Game of Thrones offers an intimate look at the consequences of using backroom dealing to pursue an outcome in a competitive setting and fans of the show await with anticipation to see who will finally rule Westeros. But one need not look to television to find such a battle for powerjust look to the crypto market. Every investor is vying for the throne (or in this case, a maximized profit) but not all players are made equal. Those with better social ties or monetary power can more easily enter into coalitions and create backhanded deals to achieve a better outcome. As in Westeros, the crypto landscape does not behave according to Nash equilibrium. There are too few individuals controlling the fate of the market, making it difficult for others to fairly pursue their own rewards. However, if Nash equilibrium were present, these impediments to the pursuit of individual reward would be eliminated. By definition, Nash equilibrium describes players in a game in a pure non-cooperative setting (a competitive setting devoid of alliances). In such a scenario, any strategy change by one player will not result in a better outcome at the expense of the other players if all players continue to pursue their own strategies. This outcome serves the self-interests of all players, not just merely a few. And in order for any decentralized currency or token to enjoy enduring success, its price must be described by Nash equilibrium. If it is not, all participants (or players) will not understand the value and as a result it become subject to artificial pricing factors. While most markets do not operate in a non-cooperative setting (there typically exists coalitions and cartels which yield significant influence and pressure on a market), more sophisticated marketplaces function in closer alignment with Nash equilibrium because greater participation inevitably means more transparency and better infrastructure promoting fair competition. The equities market, for example, has a large number and variety of established participants and a supporting infrastructure which promotes information transparency. The cryptocurrency marketplace on the other hand, which is still a much more nascent and emerging ecosystem, remains plagued by coordination among a few larger participants to profound effect. Story continues Take, for example, Bitcoin. The coins rapid rise and decline is the result of investors speculating on the winning cryptocurrency. Its akin to the various characters of Game of Thrones throwing their support behind those seeking the throne and, to function in Nash equilibrium, the players must simultaneously work, unimpeded, to serve their own best interests. In forming alliances, the parallel pursuit of self-interest by all players no longer occurs, replaced by the interests of the group, to the detriment of those outside of the coalition. If the cryptocurrency market were to function in a truly non-cooperative setting, where individuals can pursue their own utility more fairly, it would defend against potential manipulation by eliminating incentives for collaboration. The so-called 51% attacks , for instance, where substantial computing resources are utilized to take over a networks mining power to reverse and block transactions (akin to robbing a bank), are a symptom of the current marketplace. Larger players take advantage of their size to wield influence . There are a few ways such behavior can be eliminated. First, a digital asset with well-acknowledged, long-term price dynamics is necessary. If a digital assets price evolution is more or less knowable and clear then the resulting certainty defeats the incentives for coordinated behavior that would be detrimental to other players. Second, a marketplace where a clear relationship exists between the outstanding supply of tokens and the value of the ecosystem should be established. In such an environment, price discovery is more likely to exhibit well-organized and orderly characteristics. Public companies, for example, list their stock on an exchange, which serves as a centralized source for price discovery. They also publicly disclose the number of shares on the market. All participants have an expectation of the general contours of the outcomes in the market, so there is less risk of market manipulation. Third, introduce a token or blockchain construction that disincentivizes bad behavior (like the 51% attacks). If all token holders enjoy the same privileges in the ecosystem, there would be no additional benefit from coordinating to seize mining power of a network, or join any other coalition. Such an ecosystem is achievable via a token construction where ownership confers on all holders the same capabilities and privileges on the blockchain. In other words, one cannot buy their way to influence. As the ecosystem grows, the token would capture the value of that increased adoption, creating equal motivation for involvement from all participants and leveling the playing field. The crypto market will burn to the ground if it continues to operate outside of Nash equilibrium and without a construction that promotes the self-interest of all players. If participants just keep vying for the Iron Throne through manipulation, well continue to see a few prevailing at the expense of everyone else. Seth Patinkin is co-founder and CEO of Ampersand Markets and did his PhD work in mathematics under the late John Forbes Nash at Princeton University. More opinion in Fortune : Why you should pay less attention to all those IPOs What it means when A.I. can read your thoughts The U.S. needs responsible capitalism , not socialism Making the case for companies to disclose their workforce policies Disneys CEO deserves his $66 million pay package . Heres why || China Travel Industry Could See Two Giants Go Head-to-Head: This article was originally published onETFTrends.com.
When you've been at the top of your game for so long, sooner or later a competitor will try and challenge your spot on the throne, which is exactly what China tech powerhouse Alibaba is trying to do to leading travel services provider Ctrip. This could see two of China's biggest companies going head-to-head in the travel industry.
Alibaba's travel unit Fliggy is taking aim at a niche market share composed of millennials, digital technology, and premium services. It will be a hefty task to try and unseat the travel sector champion Ctrip, which boasts he largest consolidator of hotels in volume of rooms booked, covering over 500,000 hotels in China and 750,000 worldwide.
That's just the tip of the iceberg for Ctrip. The company also offers air, rail, bus, and other transportation services with China and globally, offers vacation packages and tours, insurance, visa services, and attraction tickets.
Alibaba’s Fliggy is seeking to establish its place in the Chinese travel industry by focusing on emphasizing flights, targeting millennials, and creating a high-tech, digital experience. The company is looking to expand the use of technology in the hospitality business, even developing its own hotel.
Exchange-traded fund (ETF) investors can see this battle play out in theEmerging Markets Internet & Ecommerce ETF (EMQQ) , which marries the idea of technology and EM in one ETF. EMQQ invests in companies with exposure to the ecommerce and Internet sectors in emerging markets.
Purchasing EMQQ provides exposure to companies that are positioned to benefit as emerging economies mature, the consumer class expands, and their populations increases their utilization of the Internet and ECommerce. Two holdings, in particular, are Alibaba and Ctrip.
"Ctrip and Fliggy represent two different approaches to the Chinese travel industry," wrote Kyle Parker, Director of Research and Business Development at Big Tree Capital LLC, in an email. "We believe that both have their strengths and may be able to appeal to two very different types of travelers in China."
"China is one of the primary reasons for sustaining global growth," Parker added. "Of course, it’s difficult to talk international investing to an investor without mentioning the world’s second largest economy."
A mix of Chinese stimulus measures have been providing the fodder for economic growth, such as lower taxes, no corporate tax breaks, monetary policy adjustments, and more market access for foreign companies to set up shop. All in all, Wall Street is looking at the Chinese government’s latest efforts as a plus for its economy, which makes it rife for investment.
In fact, China is becoming less resistant to safeguarding its businesses, which will open the pathways to more foreign investment.
China’s government recently installed stricter regulations to prevent shadow banking, which allows consumers to obtain loans from non-banks. This dried up credit for purchases on big-ticket items, but also dampened real estate investment and infrastructure projects.
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || VanEck China ETF Taps New, Consumer-Based Economy: This article was originally published onETFTrends.com.
Despite the trade uncertainty, China is still a fast growing economy that international investors should not ignore. As investors look for ways to gain exposure to this new economy, one may consider targeted China country-specific exchange traded funds.
For example, ETF investors can look to a fund like theVanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT), which tries to reflect the performance of the SME-ChiNext 100 Index.
There are ways for investors to gain exposure to the evolution of the Chinese economy towards a consumer-based economy and away from an export focus. Specifically, VanEck argued that sectors primed to benefit the most from this shift include the consumer discretionary, consumer staples, health care, I.T., and healthcare industries.
"As China transitions towards a consumer-based economy, small and medium enterprises (SMEs) have sprung up to cater to these new and growing segments of the economy. The defining characteristic of these sectors is that their growth and profitability is primarily driven by consumer spending and habits (as opposed to government-directed spending and investment)," according to a VanEck note.
VanEck highlighted the SME-ChiNext 100 Index, which has a high concentration in these sectors, with almost 65% of the index concentrated there.
The SME-ChiNext 100 Index tracks the largest 100 names across the ChiNext and SME boards, both of which trade on the Shenzhen exchange. The ChiNext board was crafted to support innovation in emerging and high-tech sectors, raising capital for smaller, non-SOE companies. The SME Board was also created to allow small- and mid-sized companies more easily access capital and grow their business.
More importantly, these smaller companies on the two boards have comparatively smaller degrees of SOE overlap when compared to indices with the largest Chinese companies, which may provide another layer of diversification when investors look to Chinese equity exposure.
"The onshore Chinese market is broad and deep, and represents a wide variety of companies and industries. The same factors that drove China’s growth for the last 20 years may not continue in the future. With China’s transition to a consumer-led growth economy, a new set of companies is primed to benefit. Fortunately for investors who are seeking to tailor their China exposure to benefit from these changes, there are many ways to access the opportunities in the onshore market, including ETFs that provide exposure to targeted segments of the economy," according to VanEck.
For more information on Chinese markets, visit ourChina category.
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[Random Sample of Social Media Buzz (last 60 days)]
Top 5 #cryptocurrencies
Alert Time: 2019-05-28 11:20:02
#Bitcoin: $8,719.520
#Ethereum: $269.636
#XRP: $0.425
#BitcoinCash: $432.918
#EOS: $7.835
#ethereum #altcoins #pumpanddump $JPY #retweet
https://t.co/rdEr8N5koT || #BTC
Bitcoin USD: 7349.32
Bitcoin EUR: 6603.55
Bitcoin Yen: 808455.78
Bitcoin Ruble: 474817.74
#CyberGuerrillaAutonomousNexus
BTC AdDreSs: 1Bhgvcsm3P59fSCLg5G6DSstpV4srk5JTy
https://t.co/e58xJeRA1v (Do not assume this data to be 100% accurate… https://t.co/Hmj0FzRhcI || @Socal_crypto @Piotr14Tra buy #bitcoin ! || @PikettyLeMonde est ce que Piketty s'est exprimé sur le bitcoin et les crypto monnaies ? || #Blockchain #BTC #ETH #blockchaintechnology #sharding || The evolution will be televised: CoinGeek's Bitcoin Scaling Conference is sold out BUT we're live streaming it: https://t.co/jP1BZfb9io #BSV #CSW #ScalingMatters || As ICE Pushes For Bakkt Bitcoin (BTC) Custody License, CFTC Approval Looks To Be On The Horizon https://t.co/F5ds50Mkhw As ICE Pushes For Bakkt Bitcoin (BTC) Custody License, CFTC Approval Is Imminent The Intercontinental Exchange (ICE) has announced the creation of a Bitcoin f… || There's two types of ALTSEASONS
ACCUMULATION
- market sentiment DISBELIEF
- ALTS pumping
▪︎Whales doing the buying, retail selling
Basically GOD.pdf play: BUY HIGH? SELL HIGHER!
DISTRIBUTION
- market sentiment EUPHORIA
- ALTS pumping
▪︎Whales selling, guess who BE buying?🤫 https://t.co/X4VC8fDDhi || BTC: $8084.00, S: $ 15.57, G: $ 1,281.70 | Act: 21,515 Open: 6280 BTC: 46,197.0 | Total: $373,462,436 http://goo.gl/U94Tki #bitcoin || @OurBitcoinMoney @nityn @Bitstamp Don't instruct my tone or define social consensus. I understand bitcoin quite well and having exchanges become regulatory is not what the original whitepaper ever described. I get it, you like your safety guards of regulation and your haughty vitriol. Gold star for you <3
|
Trend: down || Prices: 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-12-21]
BTC Price: 3896.54, BTC RSI: 49.52
Gold Price: 1253.80, Gold RSI: 60.86
Oil Price: 45.59, Oil RSI: 28.65
[Random Sample of News (last 60 days)]
Blow for Bitcoin investors as HMRC rules they cannot class transactions as gambling: Bitcoin has been falling steadily since the start of 2018, but recent weeks have seen it plunge in price, some days by more than a fifth - © 2018 Bloomberg Finance LP Bitcoin investors in the UK have been dealt a blow, after HMRC ruled that they would not be allowed to classify their investment in the cryptocurrency as "gambling", winnings from which are tax-free. In a long-awaited policy paper, released on Wednesday, HMRC clarified that it did "not consider the buying and selling of cryptoassets to be the same as gambling". It said that digital currencies counted as "chargeable assets" for capital gains tax if they were both capable of being owned, and had a value that could be realised. "In the vast majority of cases, individuals hold cryptoassets as a personal investment, usually for capital appreciation in its value or to make particular purchases. They will be liable to pay capital gains tax when they dispose of their cryptoassets," it added. The latest paper comes almost four years after HMRC last issued official guidance on how to classify cryptocurrencies, at which point it had suggested that transactions could be "so highly speculative" that winnings from such activity may not be taxed. However, it had suggested it was planning to update its official guidance on the subject earlier this year, saying that where "an asset (including Bitcoin) is held as an investment – as opposed to being working capital in a trading activity – the presumption is that any profit or gain on its disposal will be charged to capital gains tax". Experts had been warning that the "gambling" loophole , which appeared to allow cryptocurrency investors to reduce their gains to zero, could potentially lead to millions in lost revenue for HMRC. The tax experts had urged the department to make its policy on cryptocurrencies clearer, saying it was likely to confuse amateur investors who had piled into the market in late 2017, when Bitcoin prices were hitting $20,000. One barrister specialising in tax Etienne Wong said HMRC had not been clear-cut on whether investors could legitimately be classified as "gamblers". Bitcoin has been falling steadily since the start of 2018, but recent weeks have seen it plunge in price, some days by more than a fifth. It currently stands at around $4,000. View comments || Christmas Delight? Bitcoin Cash ABC Leads the Crypto Rally after Surging 40%: Are we witnessing an early Christmas gift for crypto hodlers? Bitcoin Cash ABC leads the crypto rally after surging nearly 40%. The crypto asset has engaged itself in an impressive upside action, surging 40% on an adjusted 24-hour timeframe. In five days, the Bitcoin Cash ABC market cap has jumped from $1.32 billion to $2.83 billion, indicating that bullish sentiment is being maintained on every higher high formation. Meanwhile, the volume of Bitcoin Cash ABC is also noting a steep rise from its previous low. On December 15, the Bitcoin Cash ABC/Dollar market recorded $72.2 million worth of trading volume across all the crypto exchanges. However, the pair has registered a 934% surge in its daily trading, now posting $745 million worth of volume on a 24-hour adjusted timeframe. View the latest Bitcoin Cash ABC price here. Bitcoin Cash SV Up 18% Bitcoin SV, which was launched after forking the main Bitcoin Cash blockchain, has gained 18%. The surge appears a further more speculative than the rest of the crypto market, owing to some bad press Bitcoin SV received lately. Cryptocurrency researcher known as Reizu wrote in a blog post that he performed successful double spending attacks on the Bitcoin SV chain, adding that the project is very centralized. The Bitcoin Cash SV price was under pressure from these latest findings because its price action was visibly the most-responsive to the ongoing crypto bear cycle. It fell more than its peers. However, the coin seems to have woken up without any solid communal backing, to establish a new weekly high at $103.64. Ethereum and EOS Join the Rally Traders have capitalized on the deeply oversold status of Ethereum and EOS, two of the leading decentralized blockchain projects. While Ethereum price jumped close to 6% on a 24-hour adjusted timeframe, EOS is a little behind with a 4% jump. The Ethereum/Dollar price is now trading at $100 on Binance while eyeing an extended upside action towards $128 as a potential breakout/rebound target. The pairs support level, at the same time, looks set at $84. Story continues The EOS/Dollar rate, meanwhile, is undergoing a decent intraday rebound from the yesterdays selling action. While the pair is pretty much struggling to break above the resistance level at $2.89, it is also being supported by a decent floor near $2.48. Much like Bitcoin Cash ABC, Bitcoin SV, and EOS, other altcoins have also rebounded fairly in their respective markets. Including XRP (+4.36%), Stellar (+4.27%), Monero (6.23%), and Stellar (4.27%). Featured image from coin360.com The post Christmas Delight? Bitcoin Cash ABC Leads the Crypto Rally after Surging 40% appeared first on CCN . || Crypto Market Rebounds But No Major Recovery in Sight: Factors and Trends: Bitcoin price Throughout the past 24 hours, the crypto market has slightly rebounded by around $3 billion, from $123 billion to $125 billion. Bitcoin (BTC) has avoided a potential decline to the low region of $3,600, as it stabilized at around $3,850. It reached its daily low at $3,800 but rebounded by a small margin. Other major cryptocurrencies apart from Bitcoin have recorded fairly large losses against the U.S. dollar throughout the past two days. Ethereum (ETH) , Stellar (XLM) , and Bitcoin Cash (BCH) demonstrated losses in the range of 1.5 to 8 percent on the day. Since November 29, within seven days, the Bitcoin Cash price has dropped from $200 to $142, by more than 29 percent. While the asset did not experience a large single-day drop, it continued to lose its value against both Bitcoin and the U.S. dollar over the past week. What is Happening to Bitcoin? Subsequent to achieving a new yearly low at $3,456 on November 25, the Bitcoin price has struggled to show any sign of a major short-term reversal or a corrective rally. A cryptocurrency technical analyst known as “The Crypto Dog” stated that a clearly defined range between $3,500 and $4,500 range has been established by the dominant cryptocurrency, and the probability of the asset maintaining that range has increased. The analyst emphasized that currently, bears remain in control of the market, explaining : “Following the November sell off into the low $3,000s, BTC has now carved out a clearly defined range between $3,500 and $4,500. A consolidation event following a strong move is more likely to result in a continuation than reversal. That means currently the bears are in control.” Based on the oversold conditions of major cryptocurrency assets in the global market and the exhaustion the market has shown throughout November, the analyst added that the market could be going through the final stage of the bear market. “It is my opinion that Bitcoin is in the final stages of this bear market. I expect the price to range between an absolute low of $2000 to an absolute high of $6,200 (more likely, $3000-5400) for a substantial period of time,” the analyst said cautiously, saying that a several-month-long accumulation period will likely follow the bottom. Story continues Companies Struggling Many companies in the cryptocurrency sector have started to downsize and adjust to market conditions. Even ConsenSys , the largest software development company in the blockchain sector, has announced its plans to realign its long-term strategy and vision to focus on delivering real products and results. “ConsenSys 2.0 requires us to evaluate our endeavors more rigorously. We will seek to run leaner projects because often better decisions are made in a context of more constrained resources. Scarcity sharpens the senses and forces discernment in decision making. Lush plentitude, while perhaps a noble goal in many circumstances, should be hard won; otherwise it leads to complacency and dull-wittedness.” If an increasing number of companies move beyond hype to focusing on the development of real products that can garner stable user bases, it could provide a strong foundation to support the next wave of crypto. Featured Image from Shutterstock. Charts from TradingView . The post Crypto Market Rebounds But No Major Recovery in Sight: Factors and Trends appeared first on CCN . || Crypto Market Recovers by $3B: Oversold Conditions Show Bitcoin Bottom: In the last 24 hours, the valuation of thecryptomarket increased from $137 billion to $140 billion after a minor recovery of around 2 percent.
Both major cryptocurrencies and small market cap tokens have ended the day with relatively minor losses in the range of 1 to 3 percent.
The volume ofBitcoin (BTC)has dropped from $5.5 billion back to $4 billion over the past several days, by more than 27 percent. Given that the value of BTC has not fallen substantially during the time wherein its volume fell, a case can be made that the sell-pressure on the dominant cryptocurrency has subsided.
A cryptocurrency trader and economist Alex Krügerexplained:
“Yesterday, BTC triggered my main oversold signal on the daily. This signal printed only once before: Jan/17/2015. Very close to a bottom that held for eight months, and was breached only once ever after, briefly, during the Aug/18/2015 flash crash.”
Generally, after a 30 to 40 percent drop, major cryptocurrencies tend to recover in the mid-term, as seen in the case of Ripple (XRP). A similar trend could be portrayed by BTC in the upcoming weeks if the asset could begin demonstrating stability at its low price range.
Even if BTC falls below the $4,000 mark prior to engaging in a corrective rally, which is a possibility given that the $4,000 support level was tested twice in the past five days, stability in the range of $3,800 to $4,200 could allow BTC to establish roots in the $4,000 region and signal a bottom.
“Some nice buyback wicks showing up, but don’t think we’re out of the woods until a daily close above green,”notedHsaka, a cryptocurrency technical analyst.
Bitcoin is still only down 78 percent from its all-time high, which is relatively low when compared to the average drop in the price of BTC from its all-time high in previous major corrections. In 2011, 2013, and 2015, BTC recorded an average drop of over 85 percent in every major correction it experienced.
So far,VeChain,Binance Coin, andBitcoinremain as the best performing cryptocurrencies throughout the bear market, with Binance Coin down 78 percent from its all-time high.
On Friday,tokensseemed to be experiencing a sudden short-term recovery asAugurandMakerdemonstrated gains in the range of 5 to 13 percent.
In the past 12 hours, Augur dropped by 10 percent and Maker recorded a decline of 7 percent, deleting their weekly gains.
From their all-time highs, most tokens, even those that have performed well against BTC and the US dollar in early 2017, are averaging a drop of around 98 percent.
With increasing pressure from the U.S. Securities and Exchange Commission (SEC) and dozens of pending cases against initial coin offering (ICO) projects being evaluated by local authorities, the price of tokens is expected to drop substantially in the weeks to come.
Featured Image from Shutterstock. Charts fromTradingView.
The postCrypto Market Recovers by $3B: Oversold Conditions Show Bitcoin Bottomappeared first onCCN. || Bitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Minister: Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a “soap bubble,” it has impacted the world positively by boosting investment in new technologies. Speaking to themediaon Wednesday at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market, the conversation around it has successfully driven significant international interest in a vast number of projects in new fields, principally blockchain technology.
Giving his comments at the event, he said:
“You may recall what I said, for example, last year, when Bitcoin’s price jumped up to $20,000, and now it is lower than $4,000, we said very simple things. Bitcoin itself is a soap bubble, it deflated, that’s what happened. […] Unfortunately, many people were affected [because of their investments in cryptocurrency], but again, in terms of new technologies, new businesses, it gave a positive impetus.”
His line is in keeping with the general Russian state reaction to the growth of cryptocurrency. Until now, the legal status of crypto trading, ICOs, and mining has not been firmly established in the country, with Russian authorities doing little more than issuingvaguedisclaimers and investment advisories from time to time.
While a number of prominent voices have advocatedblockchainadoption for reasons as varied as using a gold-linked cryptocurrency to protect its arms export industry to adopting DLT to eliminate customer abuse in the pension fund industry, this still remains far from happening. Thus far, the Russian state’s interest in bitcoin has been largelyrestrictedto facilitating foreign missions in need of hard-to-trace cash.
In March, three draft bills aimed at correcting the regulatory gap were submitted of reading in Russia’s parliament, although the proposed laws included a clause that stipulated that Russia does not recognise digital financial assets as legal tender in the country. Despite this, it has beenreportedin the past that the country is examining the possibility of skirting US-imposed sanctions using cryptocurrency as a primary solution.
Speaking in June, President Vladimir Putinstatedthat while the state continues to look at the crypto “phenomenon” with great interest, it cannot at the moment issue or sanction the issue of such tokens since, by definition, they fall outside the regulatory scope of relevant government agencies. That notwithstanding, during this year’s FIFA World Cup which held in Russia, it was announced that hotels and selected hospitality spots wouldacceptcryptocurrency as millions of fans from around the world arrived in Russia.
Featured image from Shutterstock
The postBitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Ministerappeared first onCCN. || Chinese Internet Court Uses Blockchain To Combat Online Plagiarism: An Internet Court launched in Eastern Chinese City Hangzhou will now use blockchain to fight plagiarism for online writers, local Chinese news outletChina.org.cn reported. Chinalaunchedits first internet court in the city of Hangzhou to deal with internet related cases, save time and reduce overhead costs of getting justice out of the system.
At the time of the launch, the court was expected to accept court filings and cases electronically and given the mandate to rule online cases via live stream. Plaintiffs may verify their identity with a government-issued ID or through their Alipay account.
The Hangzhou Internet Courtoperates as an incubator for the governance of the internet space in China to settle “diversified Internet disputes, and a ‘first mover’ for the transformation of Internet trials.”
Hangzhou has a large percentage of online writers in China. The Binjiang District of the city has a “writers’ village,” which is home to over a hundred popular online writers. These writers have had issues with piracy over the years, and it has become increasingly challenging for them to prove their ownership of any piece of work. The report stated that while these writers used to resort to downloaded content and screenshots as proof of ownership, these pieces of ‘proof’ can easily be forged, making them ineffective as evidence.
The expense of legal services and notary fees also make it difficult for writers to pursue justice against those who infringe on their copyright, the report argued. However, the Hangzhou Internet Court believes that it is nearly impossible to tamper with evidence that is logged on a distributed ledger or blockchain, “due to its decentralized and open distributed ledger technology.”
Wang Jiangqiao, who works as a judge at the court, was of the opinion that blockchain is beneficial to writers due to its tamper-proof nature, which gives it the ability to “track “authorship, time of creation, content, and evidence of infringement.”
A few weeks ago, the Hangzhou Internet Courtbecame the first courtin China to recognize blockchain technology as a means of storing evidence. The decision stemmed from a case in which the plaintiff, a company based in Hangzhou, sued the defendant, a Shenzhen-based tech firm, or making publications of the plaintiff’s copyrighted material on its official website.
The plaintiff captured the webpage of the defendant as well as the source code, and uploaded them to the Bitcoin blockchain. After investigations were concluded, the Hangzhou Internet Court maintained that this form of electronic data would henceforth serve as a form of evidence in copyright infringement cases.
China has used the blockchainin other areas of law enforcement in recent times.
The postChinese Internet Court Uses Blockchain To Combat Online Plagiarismappeared first onCCN. || Mastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?: Mastercard, the company who have gone through the entire process oflaughing,fighting, and thenembracing Bitcoin(and then attacking it again), have applied for another newpatent in the blockchain space. Their last one was in regards to — we’re not making this up —a fractional reserve crypto bank. They describe a novel method of anonymizing transactions which does not, in function, represent those in place by Monero or other privacy coins.
Instead, the method described sounds a lot likecoin mixing, a service that various businesses in the community have offered for years.
For those who are not aware, coin mixing (also calledtumbling) is the process of taking a lot of different inputs, from senders, tumbling them together like a washing machine, and pushing out new transactions from the recipient address – thus obsfuscating the original source of the funds.
There are multiple methods of tumbling bitcoins. Mixing coins or tumbling them is no more illegal than getting change at a gas station. In neither case can you be sure that the previous holders of the units were not criminals or engaged in criminal activity. This is where the concept of fungibility is most applicable.
The Mastercard method is described as follows;
The blockchain node may receive the request and may process the transaction to transfer the specific amount from the processing server’s blockchain wallet to that of the recipient device. In some embodiments, the processing server may notify the sender device and/or the recipient device of the transfer, which may also include the providing of a transaction record identifier for the second transaction.
The above is exactly how Bitcoin mixing services work. You create a transaction on the mixer’s site, and then you tell it how much you want to send and where you want to send it. You can also specify, with most decent services, a number of “rounds” you wish to use. This means that the coins will be tumbled between wallets on the server before being sent.
The author hasn’t seen a tumblr that does the following though, where more than one wallet will be used to actually send the funds and the amounts will be changed.
In some embodiments, the processing server may utilize multiple blockchain wallets to further increase anonymity. In such embodiments, the processing server may possess a plurality of different cryptographic key pairs. […]
It’s unclear what Mastercard intends to do with this patent. A regulated financial company, they’ll certainly not launch any products or businesses based on the model without regulatory approval, meaning that if they did such, there’d be what amount to regulated, legal Bitcoin tumblers. In the case of Mastercard-originating transactions, though, at the very least the sender’s information would have to be retained for KYC and AML laws to be respected.
Do they intend to get this patent and then enforce the patent against companies which are already doing a similar service, often with similar or higher levels of anonymity? The move raises lots of question in any cryptonaught’s mind, and CCN has reached out to Mastercard for comment as to the nature of their plans around this technology they seek to patent.
Featured image from Shutterstock.
The postMastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?appeared first onCCN. || Why Bahrain is attracting more businesses: Banking on its strong assets of innovative human capital and an attractive regulatory environment, Bahrain has emerged as the hub for tech entrepreneurs. In recent years, tech startups – consisting of new-generation Arab entrepreneurs and immigrant business operators – have leveraged their talents and technology to gain a market foothold in the Arab Middle East in the era of digitization. Tech startup firms have mushroomed to tap into tech-savvy, connected consumers, particularly in Dubai. Places like Dubai have attracted not only enterprising locals but immigrant entrepreneurs or global technology players such as Amazon, Facebook, Google where their expanded presence have led to brisk business. Fertile ground for tech enterprises Bahrain’s strength in attracting technologists and entrepreneurs is also hinged on low operating costs, a competitive taxation system, and the 100 percent foreign ownership allowed in most sectors, apart from the sound regulatory system. Recent trade show turnouts also attest to how Bahrain has become fertile ground for financial or tech startup entrepreneurs. It helps that most Bahraini tech talents have adopted a flexible business mindset, and that there are entrepreneur-friendly economic places set in place. Bahrain Economic Development Board (EDB) Chief Executive Khalid Al Rumaihi recently noted that more than 50 new international firms have set up business in Bahrain, creating more than 2,300 jobs. Such developments underscore how economic development continues to be robust. Since EDB’s inception in 2001, Al Rumaihi said, Bahrain’s non-oil sector has posted an average 7.5 percent annual growth . Among the companies that have cashed in on rising new technologies and market receptivity to digitalization is telecom player Batelco Group.Batelco Bahrain CEO Muna Al Hashemi takes pride in saying that the company has kept its ear on the ground, focusing on what its target consumers want rather than merely keeping an eye on what competitors are doing. Story continues Forward-looking stance Batelco pioneered a series of cloud-based services, explored applications of the Internet of Things (IoT), mobile payments and other current technologies. To further stay ahead of the game, companies like Batelco have braced themselves for transformative technology that will take shape a few years from now. Partnering with Ericsson, the telecom firm successfully conducted a 5G trial in Bahrain last May. Al Hashemi said 5G will be ready to roll out for Bahrain commercial use by 2019, with a possible launch by end-2018. It is interesting to note that more established firms in their home countries have tapped into local talents (with skill sets) in hubs for tech enterprises, notably Dubai. What entrepreneurs need to continue to work on, if you go with reports like the Global Entrepreneurship Development Institute’s rankings of countries soaring in terms of global enterprise, is to be less risk-averse and more adept in adopting technology vis-à-vis other counterparts across the world. Despite the perceived weaknesses of some of Bahrain’s local start-ups, international firms continue to gravitate to that part of the world and ink deals with entities that show much promise. American multinational tech firm Microsoft, for instance, sealed a partnership agreement with Bahrain start-up firm CH9, that assists new small and medium-sized enterprises (SMEs) in acquiring the needed resources for business takeoff. It can be noted that about 90 percent of Bahrain enterprises are SMEs. Their economic contribution to the Kingdom’s GDP is around 30 percent. Hence, the support for such small-scale enterprises has been forthcoming. A few months ago, Bahrain SME Fund was bolstered with a whopping $100 million, facilitated by investment bank Ibdar Bank and public-government organization Labour Fund (Tamkeen) in partnership with the Islamic Corporation for the Development of the Private Sector. Encouraging entrepreneurship Big companies’ investments in local startups has been driven by several key factors. Foremost among these is the Middle Eastern government’s adoption of legal and socio-economic measures to encourage entrepreneurship. Dubai, in particular, has embraced technology and is set to improve efficiency in government documentation. Being continually exposed to best business practices, apart from hurdling obstacles like language and gender barriers, has also set the stage for entrepreneurial success. Clear-cut illustrations are the thriving companies Jamalon, which ventured into online book business; Unifonic, the cloud communications firm that introduced the innovative mobile marketing business of sending millions of messages instantaneously; BitOasis, which introduced one of the first Bitcoin wallets and exchanges in the Middle East. Notwithstanding the geopolitical risks and fragility of the Middle East and North African region (MENA), the prospects of expanded partnerships have not dimmed. Companies like Proxera, which tailors solutions to empower businesses with tools that analyze customer behavior and measure results, have increased awareness for digital tools. Proxera was a participant at a Dubai trade show, where it highlighted trends and developments in the e-commerce and retail sector in the MENA region. || ‘Nuclear Option’: ABC Dev Won’t Rule out Changing Bitcoin Cash PoW Algorithm: amaury sechet, bitcoin cash developer The Bitcoin Cash civil war is just days away from culminating in a contentious blockchain split, and the lead developer of the faction with the minority hashrate has advised that the development community should “get a patch ready” in case they need to pursue an emergency hard fork to change the cryptocurrency’s Proof-of-Work (PoW) algorithm. Bitcoin ABC Dev. Open to ‘Nuclear Option’ Writing on Twitter, Bitcoin ABC lead developer and self-described Bitcoin Cash “benevolent dictator” Amaury Séchet said that activating an emergency fork to alter the Bitcoin Cash hashing algorithm would be a “nuclear option” but that developers should keep it on the table in case their version of Bitcoin Cash (BCHSV) suffers an attack from miners backing Bitcoin SV (BCHSV), the BCH version promoted by Craig Wright and billionaire Calvin Ayre . “You should get a patch ready. It’s better to be ready and not need it than to need it and not be ready,” Séchet said when asked whether he supported a PoW change. “Changing PoW is somewhat of a nuclear option so I’d be reluctant to use it. But it always has been considered the option of last resort in case a large portion of miner become hostile, so we should be ready.” You should get a patch ready. It's better to be ready and not need it than to need it and not be ready. — Deadal Nix (@deadalnix) November 12, 2018 Changing PoW is somewhat of a nuclear option so I'd be reluctant to use it. But it always has been considered the option of last resort in case a large portion of miner become hostile, so we should be ready. — Deadal Nix (@deadalnix) November 12, 2018 Craig Wright-Backed SV Boasts Dominant Hashrate Ready indeed, because despite strong community and business support, the hashrate has — at least in the days leading up to the fork — largely rallied behind BCHSV. The SV camp appears to possess the dominant hashrate, with Coin Dance estimating that ~75 to 80 percent of miners are signaling for SV compared to just ~15 to 27 percent for ABC. Craig Wright, who as recently as this month claimed in an email that he was Bitcoin creator Satoshi Nakamoto, has threatened that SV miners will use their massive hash power to attack the BCHABC blockchain, and he is not the only SV backer to issue this warning. Hey @btccom_official Do you guys really want to mine for NOTHING. Others like to say I am bluffing…. I am not. EVERY satoshi ever mined and earnt on BCH using ABC will be reversed. You mine ABC, you piss in the wind and burn electricity for nothing. It is a promise pic.twitter.com/84cwbWIbC1 — Dr Craig S Wright (@ProfFaustus) November 12, 2018 Last week, Bitcoin Cash startup and BCHSV supporter CashPay Solutions opened a mining pool — SharkPool — whose sole purpose is to attack altcoins and BCH forks that it considers illegitimate — including BCHABC. Story continues “SharkPool considers all alterations to the original Bitcoin design a threat, this includes a potential ABC chain if they choose to not capitulate in time and accept the SV ruleset prior to the hard fork,” co-founder Ari Kuqi told CCN in an emailed statement. “ABC has been hinting at a possible PoW change and accepting minority hash; this doesn’t change anything. There will be no splits of Bitcoin and the leeched value in the shape of alts and forks will be brought back.” “You either build on Bitcoin or you use a central database,” he added. Nodes, Businesses Back ABC At present, Bitcoin Ca sh is mined using SHA256 , the same hashing algorithm used on Bitcoin and a variety of other cryptocurrency networks. SHA256 has long been ASIC-compatible, so aside from the odd cryptojacking-related botnet, BCH can only be mined profitably using these specialized mining devices, which achieved enhanced efficiency by sacrificing versatility. Altering the BCHABC hashing algorithm would represent a major shift for the cryptocurrency network, as it would prevent SHA256 ASIC owners from mining BCHABC blockchain. But, while that would prevent ABC supporters from mining BCHABC with their current hardware, it would also secure the network against an attack from the SV camp — at least in the near-term. bitcoin cash hard fork BCHABC appears to have more on-the-ground support, which is why some have suggested a PoW change to immunize the cryptocurrency against malicious miners who support the other chain. BCH node operators are more than three times as likely to run the Bitcoin ABC client than Bitcoin SV, and 98 percent of BCH-integrated companies have signaled that they are prepared to support the BCHABC network — just 36 percent of companies have said the same for BCHSV. Perhaps more tellingly, traders have consistently priced BCHABC tokens far above BCHSV ones on exchanges that allow users to exchange physical bitcoin cash for pre-fork “futures” tokens. On Poloniex, the first crypto exchange to offer pre-fork BCH trading , BCHABC is currently trading at $393 while BCHSV is priced at $129. Backers believe that, while a drastic measure, altering the cryptocurrency’s PoW algorithm could secure BCHABC the opportunity to leverage its community and business support to cement its status as the “real” Bitcoin Cash network, even without majority miner support. Featured Image from CoinGeek/ YouTube The post ‘Nuclear Option’: ABC Dev Won’t Rule out Changing Bitcoin Cash PoW Algorithm appeared first on CCN . View comments || The Latest Threat to Crypto Prices? The Federal Reserve: Robert Leshner is an interest rates guy. He’s spent years predicting what rate the Federal Reserve will set and, more generally, what the future value of money should be. An economist by training, Leshner sees a problem with the cryptocurrency markets—namely, it doesn’t pay any interest. Unlike fiat currencies, no one will pay you to store your Bitcoin, Ethereum or other digital tokens. As Leshner explained on the latest episode of Balancing the Ledger (see video above), his response was to start a company called Compound , which lets cryptocurrency owners park their digital tokens in exchange for a rate of return. Compound, whose backers include Andreessen Horowitz and Coinbase Ventures, is currently listing only four lesser known tokens but plans to add others soon, including a so-called stable coin. Stable coins are cryptocurrencies pegged to the U.S. dollar on a 1-to-1 basis. In Leshner’s view, stable coins are a hot item right now because they are easy to create and crypto investors are eager to buy them. But he shrewdly points out that stable coins are also a great deal for those who issue them—the buyers are basically lending them money at zero interest, and often paying transaction fees to boot. No wonder, then, that more and more crypto companies are offering stable coins, including the Winkelvoss brothers’ Gemini Coin , and USD Coin , which is supported by Circle and Coinbase. Leshner predicts there may soon be more than 50 stable coins competing in the market—a situation reminiscent of U.S. money in the 19th century when dozens of banks offered their own version of the dollar. Could the Federal Reserve soon put a stop to this by issuing a digital version of the dollar— what many dub a Fed Coin? Leshner thinks this day is far off and, for now, we’re likely to see crypto companies offering token versions of more fiat currencies, which will in turn attract traders and arbitragers to the likes of Compound in search of interest. Story continues We asked Leshner if all of this really necessary, given that there is already an enormous and liquid market for currencies in existing foreign exchange market. He argues there are upsides to digital versions of fiat currencies, including their ability to interact with blockchain-based smart contracts. “The advantage of tokenization is it brings transparency and programability to currency,” he said. “When dollars are open to blockchain there’s so much more innovation that can occur. ” While he is optimistic about tokenized currencies, Leshner is skeptical of many cryptocurrencies, which he likens to vapor-ware. He also thinks that a series of interest rate hikes by the Federal Reserve will begin to weigh on the crypto markets. “We’ve always known crypto in an environment of essentially zero or low interest rates. And that’s an environment of easy and loose money where capital has been prolific and looking for returns wherever it was found,” he said. “We’re finally starting to enter an environment of rising interest rates which crypto has never seen before and it’s going to be potentially challenging to the price of a lot of crypto assets just like it will be for a lot assets in general, including equities.” In other words, Bitcoin and other blockchain-based currencies—which were invented in large part as a form of money outside of the existing financial system—may find themselves exposed to the decisions of the Federal Reserve in much the same way as other assets.
[Random Sample of Social Media Buzz (last 60 days)]
UK Time 00:14 - UK sleeps I am trying to knife catch! Oh the fun!
What a time to be alive
#crypto #cryptocurrency #bitcoin #xrpthestandard || Take Care Of Your Life!
http://coinnewstelegraph.com
#crypto #success #cryptocurrencies #entrepreneur #money #growth #mentor #blockchain #dream #dreamer #positivity #ethereum #startup #boss #bitcoin #bitcointalk #opportunity #cryptonewspic.twitter.com/9XbHgAMLsT || ($MRNJ) Forget THC! Cannabidiol (CBD) Is the Marijuana Industry's Moneymaker! Invest Direct in #1 CBD App company No Fee-Reverse Proof Shares…http://bit.ly/MRNJPreferred
#ad #wsj #nytimes #reuters #bloomberg #nasdaq #business #bitcoin #blockchain #crypto #energy #cannabis #CBDpic.twitter.com/Yzw7X8lqr7 || Moving today:
Gold Bits Coin $GBC: 78.77%
Bitcoin Private $BTCP: 68.22%
Metal $MTL: 58.09%
QuarkChain $QKC: -9.25%
Moeda Loyalty Points $MDA: -13.51%
Buggyra Coin Zero $BCZERO: -19.76% || Chatter Report: Buy Walls, Miner Anonymity and Bitcoin vs. the State #bitcoin #cryptonewspic.twitter.com/gJf5cumsy3 || I’ve done the reasearch for you 22% of US households had a computer in 1993. Today 99% have a computer and you bitcoin comparison looks pretty lame. || 12/06 22:00現在
#Bitcoin : 419,995円↓
#NEM #XEM : 8.3円↓
#Monacoin : 134円→
#Ethereum : 11,250円→
#Zaif : 0.181円↓ || I agree BTC is currency to hodl
But Cryptography is going to do wonders in this world
Right question to ask is which one tho?
And also ru hooked up to the 8 @neuralink like elon? Hahaha
You are always on Twitter || $200.00 Bitmain Antminer S9 13.5 Th Bitcoin Miner #cryptocurrency #miner http://corneey.com/wXjrrC pic.twitter.com/YNboKNbGrZ || Top 5 Cryptocurrencies - Current Prices
Bitcoin $BTC: $4,101.50 -1.46%
XRP $XRP: $0.374105091 -1.64%
Ethereum $ETH: $115.00 -1.12%
Bitcoin Cash $BCH: $179.25 -8.30%
EOS $EOS: $2.69 -2.05%
|
Trend: down || Prices: 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-10-16]
BTC Price: 6596.11, BTC RSI: 53.28
Gold Price: 1227.30, Gold RSI: 62.75
Oil Price: 71.92, Oil RSI: 49.69
[Random Sample of News (last 60 days)]
Op Ed: Why Your Financial Advisor Won't Talk to You About Bitcoin: Financial Advisor Bitcoin Bitcoin is in the news, and we’ve all seen the stories about early investors who’ve made millions and driven away in new lambos . So it’s only natural that people who haven’t invested already are wondering if they should. Unfortunately, when they turn to their financial advisors for help, they’re often let down by professionals who can’t or won’t discuss it. Why won’t more financial advisors talk to their clients about bitcoin and other cryptocurrencies? Here are several explanations. Your Advisor’s Firm Forbids Recommending Cryptocurrency Merrill Lynch, Morgan Stanley, JPMorgan and Wells Fargo reportedly do not allow their financial advisors to make cryptocurrency recommendations to clients. Wells Fargo only allows advisors to give their clients research primers on digital currencies, and Merrill Lynch bans its advisors from trading bitcoin futures and Grayscale’s Bitcoin Investment Trust . Other advisors who aren’t banned from discussing crypto with clients are hiding behind their “fiduciary” duties. That's hogwash. An advisor’s fiduciary duty requires them to act in their clients’ best interests. In the case of cryptocurrency, that duty should mean providing well-informed, unbiased information, not refusing to discuss it or to make recommendations about potential investments. Adding an alternative asset such as bitcoin to an investment portfolio can provide an additional source of uncorrelated alpha, the holy grail of investment portfolio allocation. Although bitcoin is a highly volatile and relatively nascent investment vehicle, speculative and alternative investments are used quite frequently in the investment world — think commodities, precious metals and master limited partnerships. Although bitcoin isn’t right for everyone’s portfolio, for those with higher risk tolerance levels, allocating a small portion to this emerging asset class should be, at a minimum, a discussion point with their financial advisor. Some Financial Advisors Don’t Understand Bitcoin Most financial advisors, like much of the population, have at least heard of bitcoin, but many have not taken the time to research it on their own; instead, they rely on watercooler conversations or the most recent sensationalist media story to form their opinions. While that approach may be fine for someone with just a passing interest in bitcoin, it’s not acceptable for someone who works in the world of money and investment management. Story continues Although bitcoin and cryptocurrencies have a technical aspect that can be difficult to wrap your head around if you don’t have a background in cryptography or programming, there are plenty of other concepts that financial advisors generally learn about that aren’t always easy to understand either, such as options, futures, swaps, derivatives and short positions. It may not be the perceived level of difficulty, then, that’s keeping financial advisors from learning about bitcoin. Rather, they might have bought into the narrative that bitcoin is a scam or a fad. Scams have been perpetrated, no doubt. Hackers have siphoned money from cryptocurrency exchanges , leaving customers with empty online wallets. Fraudsters have raised money through false initial coin offerings and then disappeared. But these events do not make investing in cryptocurrency a scam any more than Bernie Madoff’s pyramid scheme made investing in the stock market a scam. True, we don’t yet know whether bitcoin or any other cryptocurrency will have long-term value or whether someone who invests in bitcoin today will be thrilled with or devastated by that investment five years from now. Beyond the technical aspects of bitcoin and the blockchain, its underlying technology, financial advisors need to take the time to understand why bitcoin was invented in the first place and what problems it was designed to solve with our current antiquated global monetary and payments system. As the world’s first truly borderless digital currency, its potential to disrupt the current status quo in banking and finance is only beginning to be understood. Further to this point, like it or not, education in the field of cryptocurrency investment is about to become mandatory for financial advisors looking to obtain the coveted and difficult-to-earn Charter Financial Analyst Designation (CFA). The CFA Institute recently announced that, beginning in 2019, cryptocurrency and blockchain topics will be part of the exam , indicating that these topics are important enough that advisors who use its letters should understand them. The Bitcoin–Blockchain Connection What we do know is that bitcoin’s underlying blockchain technology is likely to be one of the biggest innovations of our time. Blockchain technology is considered to be on par with the internet regarding the impact it will have on our world. What we’re just beginning to experience is being called the fourth industrial revolution . Forward-thinking companies — and these aren’t limited to startups — are implementing blockchain solutions to improve everything from supply-chain management to cross-border payments to securities settlements. JPMorgan and Morgan Stanley, despite their mandates to their financial advisors, are investing in bitcoin-linked, exchange-traded notes, which Goldman Sachs and Barclays are also reported to have invested in. And Goldman-funded, blockchain tech startup company Circle has acquired a major cryptocurrency exchange, Poloniex . These are just a few examples. Advisors should be able to speak intelligently with their clients about whether they might want to invest in companies that are ahead of the curve in developing and deploying this new technology. True, anyone who invests in an S&P 500 fund already has exposure to some of these companies, but many of the most promising use cases are being developed by lesser-known companies and numerous startups worldwide. Well-informed advisors should be comfortable discussing not only the pros and cons of investing in bitcoin but in answering questions regarding investment opportunities in blockchain-focused ETFs, as well as individual companies and projects developing new and compelling blockchain use cases. Your Financial Advisor May Be in Denial Financial advisors may be in denial about these changes, partly due to its potential disruptive impact on the very way they make a living today, perhaps. Cryptocurrency and blockchain technology, combined with artificial intelligence, could change how financial advice is delivered and how financial products are sold and marketed. Financial advisors may have to work harder and find new ways to deliver value to their clients. Providing investment management alone may not be sufficient, as that work is increasingly being done by algorithms that construct and manage portfolios for clients automatically. And individuals increasingly have direct access to diversified investments with rock-bottom fees, meaning they don’t necessarily need an advisor to place buy or sell orders for them. These changes are already well underway, and advisors who don’t adapt in the next three to five years could become obsolete, especially as younger, tech-savvy consumers make up an increasingly larger part of the market. People skills like empathy and compassion, teaching and motivating, could become more important than the ability to analyze investments. Furthermore, clients who continue to find value in one-on-one professional financial advice may be able to more easily transfer their assets from one advisor to another using blockchain technology, a shift that will require advisors to do more to provide exceptional service if they want to keep their clients. Your Advisor Doesn’t Earn a Commission or Fee on Bitcoin Former long-term Merrill Lynch financial advisor Jack Tatar, the co-author of the book “Cryptoassets,” feels big brokerage firms are shortchanging clients by not discussing bitcoin with them. I couldn’t agree more. Why aren’t they discussing it? In addition to the reasons stated earlier in this article, the real reason the financial services industry isn’t high on bitcoin is because they didn’t create it and aren’t set up to make money from it. Indeed, if your advisor were to recommend that you buy bitcoin, he or she would not earn a commission on the transaction. So why bother discussing it right? Wrong. While many independent financial advisors are fee-only, registered investment advisors who could, if they so chose, offer fee-based consulting services to help clients better understand bitcoin, the options for buying it, safely storing it, etc., very few seem to be doing so. As a result, most individuals are not getting the advice they need and want when it comes to getting involved, or not, with bitcoin. Conclusion Financial advisors should be willing and able to discuss bitcoin and cryptocurrencies with their clients in the same way that they discuss other alternative investments such as gold, hedge funds and real estate investment trusts. Even if they don’t want to recommend investing in bitcoin, ether, litecoin and the like, they should at least inform their clients about how they work, the pros and cons of purchasing them, and where they can seek additional trustworthy information. Not doing so is irresponsible. It’s easy to lose money on cryptocurrency if you don’t understand the risks, which go beyond the typical investment risks most people are familiar. With cryptocurrencies, you need to understand a whole new set of risk factors, including the risk of your digital assets being stolen if left on an exchange that gets hacked, and the risks associated with the loss or theft of your private keys, to name a few. Individuals looking to invest in bitcoin or other crypto assets should seek out advice from financial advisors who are well versed in this arena and who can provide invaluable guidance in helping them safely navigate the complexities of investing in bitcoin and other crypto assets. This is a guest post by Eric C. Jansen, founder, president and chief investment officer at AspenCross Wealth Management. It is provided for informational purposes and should not be construed as legal advice. Views expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc. This article originally appeared on Bitcoin Magazine . || Bitcoin Price Surges From $6,190 to $6,450 in Seconds, Whats Next For BTC?: bitcoin price In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours. The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5 Erik Voorhees Comment is Spot on In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because it accurately summarizes the movement of the cryptocurrency market. On August 25, on CNBC Crypto Trader, Voorhees said : I dont expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while
But I think we are done with a majority of the collapse. Investors in the cryptocurrency market, especially those that have allocated a significant portion of their holdings into the market, need to consider the fact that cryptocurrencies as an asset class is still at its infancy. There exists a limited range of institutional products, publicly tradable instruments, and a lack of liquidity that leaves the market generally vulnerable to extreme daily volatility and manipulation. Over the past seven months, Bitcoin has shown high volatility in the $6,000 to $10,000 region. In April, June, and August, Bitcoin tanked to $6,000 and recovered to resistance levels found at $10,000, $8,000 and $7,000. Today, on September 9, the price of Bitcoin surged 4 percent from $6,190 to $6,450 within 30 seconds. The dominant cryptocurrency in the global market is vulnerable to major fluctuations and as such, investors should expect 5 to 20 percent drops or surges in value on a daily basis. The commentary of Voorhees on the bear market of 2018 is important to acknowledge because it is evident that the cryptocurrency market is still on a clear downtrend. But, given the unpredictability of cryptocurrencies, it is difficult to spot the exact bottom. Story continues A viable opportunity for new investors to come into the market would be in the stabilization and bottoming out process, during which BTC shows high stability in the low $5,000 to $6,000 region. BTC has not fully recovered from the $6,000 support level which it tested three times in the past six months. A proper recovery from the $6,000 region would lead to the initiation of a mid-term rally. But, the gap between $6,000 and the monthly peak has decreased every time a correction has occurred since February, suggesting that Bitcoin is gradually bottoming out in the $6,000 region. Where Bitcoin Goes Next The abrupt corrective rally of BTC triggered by a strong oversold condition demonstrated in the low $6,100 range could enable Bitcoin to find stability in mid-$6,000, which would be benficial for the short-term recovery of the market from a major drop on September 5. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Surges From $6,190 to $6,450 in Seconds, Whats Next For BTC? appeared first on CCN . || Invest in the Technology Behind Bitcoin With Blockchain Stocks: There is no question that there is a connection between blockchain and cryptocurrencies — without blockchain, cryptocurrencies wouldn’t exist. However, there is also a big difference when it comes to investing in a stock that focuses strictly on crypto versus one that centers on the technology that drives it.
One stock that is as close to a pure play on cryptocurrencies as you can get isBitcoin Investment Trust(OTCMKTS:GBTC), which basically tracks the price of bitcoin. As goes the price of bitcoin, so goes GBTC’s share price. But while bitcoin and other cryptocurrencies may end up being huge winners in the years ahead as the blockchain revolution continues, there are far less volatile investment ideas available to us right now.
As I mentioned, the technology known as blockchain is what the cryptocurrency market is built on. But that’s not its only function — it is also being used to change nearly every industry that deals with transactions and ledgers.
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There are countless stocks out there currently benefiting from this trend, and some are more exciting than others. However, sometimes with more excitement comes more risk. Today I want to talk to you about two blockchain stocks that may not have the biggest “wow” factor, but do have a lot of upside potential over the long term.
Broadridge Financial Solutions(NYSE:BR) is a stock that I have talked to you about before – in fact, it’smy pick in the Best Stocks for 2018 contest. BR provides investor communications and other solutions to the financial sector, and it’s one of the pioneers in its industry. But the real reason I like this $16 billion company is that it has also emerged as a standout when it comes to implementing blockchain technology.
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Many view BR as “boring” because much of its business centers on facilitating proxy votes and other financial transactions, but the stock has been anything but. Take a look at its performance so far this year. It’s up more than 50% in that time and easily beating the 8% return on theS&P 500. With momentum continuing to power this trend leader, I am confident there is a lot more upside to capture here.
WhileIBM(NYSE:IBM) may not be the first company that comes to mind when discussing blockchain technology, it has actually been in the process of shifting its business model for a few years now. Revenue has declined annually as a result, but considering the blockchain portion of revenue also remains low there is huge upside potential that could ultimately be the catalyst to finally turn Big Blue around.
The stock is down 4.5% so far this year and has failed to keep up with the broad benchmarks. I expect to see a shift soon, though, so the current weakness could be presenting a compelling opportunity. And as an added bonus, IBM pays out a hefty 4.3% dividend.
It’s also worth noting that there are blockchain exchange-traded funds (ETFs) for those who want to take a broader approach to the budding trend. However, at this time I believe the best course is to build your own basket of stocks — kind of like your own ETF — and these two names should be considered to capitalize on the shift in how business will be conducted in the coming decades.
Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else,click here to learn more about Matt McCall and his investments strategy today.
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The postInvest in the Technology Behind Bitcoin With Blockchain Stocksappeared first onInvestorPlace. || Two of Blockchain's Biggest Consortiums Just Joined Forces: Seismic shifts are happening in the world of enterprise blockchain.
Announced Monday, the Hyperledger Project and the Enterprise Ethereum Alliance (EEA) have agreed to collaborate on bringing common standards to the blockchain space and cross-pollinate a wider open-source community.
This joining of forces is notable as EEA and Hyperledger represent two of the three largest and arguably most influential enterprise blockchain communities, the third being the R3 Corda ecosystem.
ConsenSys Invests $6.5 Million in Former R3 Exec's Blockchain Startup
If the team-up succeeds in creating common standards between the two platforms, it could sway enterprises previously on the fence to build their blockchains on one or the other, since the risk of creating new silos that don't talk to other systems is being addressed.
As EEA executive director Ron Resnick told CoinDesk:
"The enterprises of the world are going to want to purchase solutions where they have a choice of multiple vendors."
Further, for Hyperledger's 200 member organizations, there is now the promise of interacting with tokens and smart contracts on the ethereum public chain.
Sign Emerges That Falling Bitcoin Price Just Might Have a Floor
Stepping back, Hyperledger was founded as an umbrella organization â cast in the image of the Linux Foundation â for open source blockchain development, comprising a number of protocols designed specifically for enterprises. Meanwhile, the 500-member EEA is a standards organization looking to build private or permissioned businesses applications on the foundations of the public ethereum blockchain.
But over time, there has been growingÂsupportfor ethereum within Hyperledger. Formalizing that convergence, the new alliance "will enable Hyperledger developers to write code that conforms to the EEAÂspecification and certify them through EEA certification testing programs expected to launch in the second half of 2019," the organizations said in a blog post published Monday.
Brian Behlendorf, Hyperledger's executive director, told CoinDeskÂthat the EEA's workon standards and attempt to align a whole universe of different vendors into a common enterprise picture is very complementary to Hyperledger.
"It's a two-way street. There's not a lot of groups effectively doing standards in the blockchain space today and EEA has a head start there. What can we contribute to that momentum?" said Behlendorf.
He said both groups can now work on a reference implementation (a software standard from which all other implementations and corresponding customizations are derived). "We think that doing that as a project or a lab at Hyperledger would be interesting," he said.
Illustrating how the Hyperledger community had already been moving in an ethereum-friendly direction: earlier this year Sawtooth (a codebase contributed to Hyperledger by Intel) added support for the ethereum virtual machine (EVM) as a transaction processor. This made it possible to bring smart contracts developed for the public ethereum blockchain over to Sawtooth-based networks.
That effort, dubbed "Seth," is now in active use, and gathering some momentum. Sawtooth proponent Dan Middleton was recently elected chairman of Hyperledger's technical steering committee and Seth awaits "conformance testing to the EEA specification as soon as possible," according to the joint statement by Hyperledger and EEA.
Meanwhile, EVM work is also now underway with Fabric, arguably Hyperledger's flagship protocol.
This work, which will start to really come to the fore in Fabric 1.3, aims to allow users to run ethereum smart contracts and also be able to have ERC-20 and ERC-721 (the standards that gave rise to ICOs and CryptoKitties, respectively) as the token model on Fabric, as currently is the case on Sawtooth.
Behlendorf said he keeps an open mind about how these architectures might evolve."Ithink in the long term the benefits of one accrue to the other," he said in reference to Sawtooth and Fabric. "Whether that means they and other frameworks will merge together or specialize, it's still an open book."
Working on common standards and building bridges between communities would seem to pave the way to some future state ofinteroperabilityâ an often talked-of ideal in the blockchain world.
"I do think that interoperability between ledgers will happen at a much higher level in the stack than most people expect," explained Behlendorf. In other words, building common standards and data formats, rather than monkeying with complex consensus protocols, will link use cases in a multi-chain universe.
As well as the working with the EVM, Hyperledger developers also want to keep a close eye on decisions being taken within the ethereum community around using WebAssembly, a coding standard for web pages, to potentially make the next generation of the public blockchain protocol more JavaScript-orientated.
"We are tracking this very closely in Burrow [a third Hyperledger implementation] and in Sawtooth and would like to be there as soon as they make that call," said Behlendorf.
All this talk of collaboration and mutual benefit might have you imagining the whole enterprise blockchain community gathered around a campfire singing "Kumbaya," but make no mistake: this is still afiercely competitivefield. And R3, which boasts more than 200 members and partners across multiple industries, clearly views EEA and Hyperledger as its competitors.
In a recent interview,R3 lead platform engineer Mike Hearn seemed to anticipate the announcement of an alliance between the EEA and Hyperledger, which he dismissed as more of "a marketing event rather than a major change to the way the platforms work."
Behlendorf agreed that this joining of forces is, to an extent, about marketing, but not just to end-user organizations and the vendor community â marketing to developers.
"This is about letting developers know where our organizations are," he explained. "It's about where the industry is going and where you may want to contribute to that momentum, to benefit from it; if you want to be tribal and fight against it, that's your choice as well."
Whatever you want to call it, in terms of strategy, a strong alliance between the EEA and Hyperledger would seem to put them on one side and R3 on the other.
Even so, R3 is definitely invited to the party, said Resnick. "I already asked them to join us. Will they agree? That might be a different story."
However, Resnick said R3 is different from Hyperedger or EEA in that "they are not really open source," making the distinction between open source and "open-core," where open source software is centered around a single vendor.
"With a proprietary solution such as R3's, you've got to buy stuff from them. That's not what we are about and it's not what Hyperledger is about," said Resnick, concluding:
"The question is, are they going to last?"
Brian Behlendorf image via CoinDesk archivesÂ
• Up 80%: XRP's September Wasn't Just Bullish, It Was Record-Setting
• This Meme Marketplace Uses Dummy Tokens to Draw Users in a Bear Market || Bitcoin Remains Bearish as Cryptos Fall: Investing.com - Cryptocurrencies continued to fall on Tuesday, as Bitcoin remained in bearish territory.
Bitcoin fell 0.56% to $6,405.60 on the Bitfinex exchange, as of 8:13 AM ET (12:13 GMT).
Cryptocurrencies overall were down, with the coin market cap of total market capitalization was at $210 billion at the time of writing compared to $212 billion on Monday.
Ethereum, the second biggest alternative currency by market cap, fell 3.84% to $280.18 while Ripple, the third largest virtual currency, decreased 2.02% to $0.32992 and Litecoin was at $55.50, down 1.46%.
In other news, trading volumes at virtual currency exchange Coinbase fell by 83% to $3.9 billion from their all-time high of nearly $21 billion in January. Financial research company Bernstein said in a recent report that Coinbase could end up with an “unassailable competitive position” as traditional financial firms are unlikely to push into crypto spot trading in the near future due to worry over regulations and money laundering.
Still, exchanges are likely to double the amount of money they made last year, despite the fall in bitcoin and other digital coins, the report from Bernstein found, with Coinbase receiving about 50% of total revenues. Revenue at digital exchanages could increase to as much as $4 billion in 2018, compared to $1.8 billion in 2017.
Meanwhile, the volume of bitcoin futures listed at CME Group (NASDAQ:CME) doubled in July and rose in August, while Chicago-based rival Bitcoin Futures CBOE failed to grow as much, the Financial Times reported. The two exchanges are under pressure as a third company, Intercontinental Exchange, plans to offer its own bitcoin futures in November.
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Suspects in $87M Cryptocurrency Theft Arrested || Is bitcoin (BTC) a con? What financial chiefs say: Representations of the Ripple, Bitcoin, Ethereum and Litecoin virtual currencies. Photo: Dado Ruvic/Reuters Another week, another round of cryptocurrency price swings and people calling the likes of bitcoin a scam. Bitcoin ( BTC-USD ) broke the psychological barrier of $7,000 after travelling sideways for three weeks at about $6,000. We’ve had the US Securities and Exchange Commission reject several ETF proposals failing to pull down the price. But on the flipside, Morgan Creek Digital and Bitwise Asset Management rolled out a cryptocurrency fund . Amid all this, one of the world’s most famous financial scam artists came out swinging and said in no uncertain terms that people are “brainwashed” into thinking cryptocurrencies are legitimate. “I was a scammer. I had it down to science, and it’s exactly what’s happening with bitcoin,” said Jordan Belfort , who is better known as the “Wolf of Wall Street” after he spent 22 months in prison for his pump-and-dump penny stock scam. “The whole thing is so stupid, these kids have gotten themselves so brainwashed. We don’t even know how bad it really is.” There are a few well-known people in finance who are less scathing about cryptocurrency, namely Goldman Sachs ( GS ) CEO Lloyd Blankfein who won’t invest in it but won’t dismiss it and legendary investor George Soros who called bitcoin a bubble but then decided to trade in the digital assets . But it’s not just Belfort who has poured scorn on bitcoin—he’s just the latest in a long line of people in business who think it’s a scam. Ray Dalio is the founder of Bridgewater Associates, the world’s largest hedge fund which manages around $160bn of clients’ money. In September last year, he said he does not believe in cryptocurrency. “Bitcoin today you can’t make much transactions in it. You can’t spend it very easily,” Dalio said on CNBC. “It’s not an effective storehold of wealth because it has volatility to it, unlike gold. Bitcoin is a highly speculative market. Bitcoin is a bubble.” Jamie Dimon , chairman and CEO of JPMorgan Chase ( JPM ) is one of the world’s most powerful people in banking. In September 2017 , he said that the cryptocurrency market is “worse than tulip bulbs. It won’t end well. Someone is going to get killed. Currencies have legal support. It will blow up.” Story continues He then added he’d “fire in a second” any JPM trader who was trading bitcoin. “It’s against our rules and they are stupid.” But in January this year he said he “regret” calling bitcoin a fraud and added “the blockchain is real. You can have cryptodollars in yen and stuff like that. ICOs … you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.” Jaime Dimon. (Photo: CCN) While some heralded this as a backpedal on his opinion, others were keen to point out that Dimon hadn’t changed his stance . In fact, this month, Dimon doubled down on how he feels about cryptos, calling it a “ scam. ” Nouriel Roubini , the influential American economist who also worked as a senior adviser to Timothy Geithner (former US Treasury secretary) and is known as “Dr Doom” who doesn’t mince his words. In May this year, he said “there is no decentralisation, it’s just bulls–t. This was a bubble … the ones who arrived late to the party are the suckers.” And if it wasn’t clear how he felt, he wrote an opinion piece about how blockchain, the tech that underpins cryptocurrency, is overhyped . Billionaire hedge fund manager Ken Griffin of Citadel is another sceptic . He said “I don’t have a single portfolio manager who has told me we should buy crypto. What’s unfortunate is the amount of hype and the number of early investors who’ve been caught up in this hype.” Meanwhile, Warren Buffett is a lot more scathing. In an interview with Yahoo Finance this year he said buying bitcoin is “not investing.” He said, “if you buy something like a farm, an apartment house, or an interest in a business … You can do that on a private basis … And it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” He also said in May that bitcoin is “ probably rat poison squared ” while his Berkshire Hathaway ( BRK-A , BRK-B ) vice-chairman Charlie Munger said during the group’s annual meeting that trading in cryptos is “just dementia.” Munger also called bitcoin a “noxious poison” that the government should tackle . Elsewhere, the Nobel prize-winning professor of economics Joseph Stiglitz is just as concerned . He said last year that “bitcoin is successful only because of its potential for circumvention, lack of oversight, so it seems to me it ought to be outlawed. It doesn’t serve any socially useful function.” || Why Are There Still No Bitcoin ETFs?: 2018 has been a lousy year for cryptocurrencies, as bitcoin prices have fallen back below the key $10,000 level that won it so much fanfare coming into the year. That hasn't stopped crypto investors from clamoring for more and better ways to invest in bitcoin and other tokens, and many have wanted to see bitcoin ETFs make it easier for investors to take positions in the cryptocurrency. For a long time, major players in the bitcoin and financial industries have tried to bring a bitcoin ETF to market. Yet over the past couple of months, the U.S. Securities and Exchange Commission has denied applications for bitcoin ETFs to start trading on major exchanges. For those who really want an exchange-traded fund vehicle for investing in cryptocurrencies, the explanations from the SEC have been far from satisfying, even as they leave at least a little hope for a future change in the regulatory agency's position. Stock chart with bitcoin symbol. Image source: Getty Images. Why the SEC keeps denying bitcoin ETFs On Aug. 22, the SEC issued an order disapproving a proposed rule change that would have allowed shares of two bitcoin ETFs to trade on the New York Stock Exchange's NYSE Arca exchange. The exchange, in conjunction with ETF provider ProShares, had filed the rule change proposal in December 2017, seeking to allow the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF to be listed on NYSE Arca. It took several months just for the SEC to begin its typical process for evaluating rule changes. After a required comment period, the agency gave itself one more two-month extension, which led to the final decision in August. In its order, the SEC tried to make it clear that the agency hadn't looked at the validity of bitcoin itself. In the words of the commission, the "disapproval does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or investment." Instead, the SEC's concern remained the threat of fraud or manipulation of the bitcoin market. In particular, the agency said that NYSE Arca hadn't offered enough evidence that the bitcoin futures markets were big enough to fulfill an adequate oversight function to avoid the potential for fraudulent or manipulative acts from wrongdoers. Story continues The SEC and the Winklevosses The Securities and Exchange Commission referred back to its decision the previous month, in which it prevented the Winklevoss Bitcoin Trust from being listed. Essentially, what the SEC said it wanted to see was that some other bitcoin-related market had enough regulation that those watching trading behavior among bitcoin ETFs would necessarily see warning signs in that other bitcoin market before any fraud or manipulation could occur. In the case of the Winklevoss ETF, the SEC based its rejection on its assessment of the market for actual bitcoin. Because the Winklevoss ETF was to be set up as a grantor trust in a manner similar to what several other ETFs that hold commodities directly use, the SEC pointed to the uncertainties in the existing market infrastructure for bitcoin itself. Yet the SEC didn't hesitate to use a similar standard in evaluating the bitcoin futures markets, which the ProShares bitcoin ETFs were designed to track. Several comments addressed the vulnerability of markets for bitcoin and bitcoin futures to manipulation, with one citing so-called pump-and-dump schemes among various players in the cryptocurrency arena. Those comments didn't necessarily provide the sole basis for the SEC's decision, but they did seem to support it. A glimmer of hope? Just about the only positive from the SEC in the orders themselves was its repeated statement that NYSE Arca hadn't established that bitcoin futures markets were big enough to give the agency the assurances it wanted. That suggests that if bitcoin futures become more popular in the future, then the SEC might be willing to reconsider its decision upon submission of updated trading figures. Yet some have taken solace in the fact that after the initial order, the SEC issued a stay of its rejection pending further review. The SEC's commissioners will personally review the findings of staff members to ensure that the rulings were proper, and cryptocurrency advocates think the review could lead to a reversal of the adverse decision. For now, though, regulators seem to be categorically opposed to allowing bitcoin ETFs to start trading on U.S. exchanges. More ETF providers are likely to try, but until something changes with the cryptocurrency markets as a whole, investors shouldn't expect to buy and sell shares of a bitcoin ETF anytime soon. More From The Motley Fool 16 Cryptocurrency Facts You Should Know Experts Warned – The Crypto ‘Bloodbath’ Is Here How to Buy Bitcoin Dan Caplinger has no position in any of the cryptocurrencies mentioned. The Motley Fool has no position in any of the cryptocurrencies mentioned. The Motley Fool has a disclosure policy . || How Jeff Bezos got the idea to sell 'everything' on Amazon: Amazon ( AMZN ) is known for selling nearly everything, from electronics to disinfecting wipes, but of course the e-commerce giant started out selling only books when it launched in 1994. In a fireside chat last week at The Economic Club of Washington D.C., Amazons chief executive explained the original business plan for the company focused entirely on selling books online an idea that occurred to Bezos in 1994 after calculating the nascent internet was rapidly growing at roughly 2,300% a year. I looked at that and was like, I should come up with a business idea on the internet and let the internet grow around this, Bezos recalled. And so I made a list of products and started force-ranking them, and I picked books, because books are super-unusual in one respect, which is there are more items in the book category than there are items in any other category, Bezos recalled. There are 3 million different books active and in print around the world at any given time. So, the founding idea of Amazon was to build a universal selection of books. Emailing 1,000 customers But after the company also began selling music and electronics in the late 1990s, Bezos turned to Amazon customers to figure out how he could further expand the business. Amazon CEO Jeff Bezos at The Economic Club in Washington, D.C. on Sept. 13. I emailed 1,000 randomly selected customers, and asked them, besides the things we sell today, what would you like to see us sell? Bezos recalled. And that answer came back incredibly long-tailed. Basically, the way they answered the question was whatever they were looking for at that moment. One of the answers was, I wish you sold windshield wiper blades, because I really need windshield wiper blades. And I thought to myself, we can sell anything this way! And then we launched electronics and toys and many other categories over time. The rest is history for Amazon, which now sells a wide array of items from third-party merchants, not to mention Amazon itself. During the companys second quarter, online store sales generated $27.2 billion, with nearly $9.7 billion generated from third-party sellers. Put another way: Amazon has built $840 billion of wealth for other people over the last 21 years, Bezos added. Story continues Those kinds of figures, as well as Amazons aggressive and successful push into areas such as cloud computing and advertising, have helped catapult Amazon into the stratosphere. The Seattle tech giants market cap crossed $1 trillion in early September, making it the second U.S. company to do so after Apple ( AAPL ) accomplished a similar feat in August. A bumpy few months Still, Amazon, like other tech giants, has had a bumpy few months. Amazon stock dipped over 3% on Monday following a Wall Street Journal report claiming employees accepted bribes in exchange for confidential information, bringing the companys market cap down to almost $931 billion. However, Bezos has cautioned employees in the past not to worry too much about fluctuations in the companys stock. At almost every all-hands meeting, I say, Look, when the stock is up 30% in a month, dont feel 30% smarter, because when the stock is down 30% in a month, its not going to feel so good to feel 30% dumber, Bezos explained. Instead, Amazons chief executive has his sights set on future quarters. None of the people who report to me should really be focused on the current quarter, Bezos explained. Sometimes, well have a really good quarterly conference call or something, and Wall Street will like our quarterly results. People will stop me and say, congratulations on your quarter, and I say, Thank you. But what Im really thinking is, that quarter was baked three years ago. Right now, Im working on a quarter thats going to reveal itself in 2021 sometime. And thats what you need to be doing: you need to be looking to two to three years in advance. Last weeks surprisingly frank discussion additionally covered a wide range of topics. The 54-year-old Amazon chief executive also reflected on his stepfather, a Cuban immigrant, and his mother, who had Bezos in Albuquerque, New Mexico, when she was 17 years old. He spoke of the virtues of getting eight hours of sleep each night, which enable him to make a small number of high-quality decisions. He also acknowledged that big businesses like his should be scrutinized . Bezos even disclosed Amazon would reveal the location of HQ2, the companys second headquarters, by the end of 2018 a long-awaited announcement expected to heavily impact the chosen citys local residents, labor, and housing. JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings to [email protected] . Follow him on Twitter or Facebook . More from JP: Peloton CEO: Sales increased after we raised prices to $2,245 per bike LinkedIn co-founder Reid Hoffman defends Facebooks response to election meddling Bitcoin advocate Charlie Shrem: Heres how long you should hold your crypto Reddit co-founder: Why Im betting on bitcoin despite its volatility || Bitcoin Market Has ‘Run Out of Juice’: Cryptocurrency Analyst: Element Group, a cryptocurrency economics and digital assets solutions analyst, published areportexplaining that the SEC’s delay in approving bitcoin ETF proposals is the primary reason why the market has become so boring in recent weeks.
“One can argue that the depressed volatility patterns we’re seeing with bitcoin is the market slowly adopting bitcoin as a [Store of Value] SoV,”wroteElement analysts, Thejas Nalval and Kevin Luon, in the report published last week. However, they added that it seemed like an interesting yet premature theory.
Another unconvincing theory cited by the report was that BTC’s price discovery mechanism was becoming “more efficient.”
Bitcoin’svolatility indexremained at 8.04 percent earlier in January, however, in the last 60 days, the figure dropped down to 2.71 percent. Hence, Nalval and Luon agreed that bitcoin “ran out of juice” heading into the fourth quarter.
The report also pointed out that BTC bucket shops, brokerage firms allowing people to place bets on the price illegally, are negatively impacting the market.
Bitcoin’s price is also dependent on the SEC’s approval or refusal ofbitcoinETF proposals. This year, ten ETFs were rejected by the SEC — the Winklevoss BTC ETF in July and the rest of the nine ETFs in August.
The only proposal that remains unanswered is the VanEck/SolidX bitcoin ETF. When the SEC delayed the decision in September, it caused a disturbance in the bitcoin market. However, the price stabilized once investors figured out that the decision could be positive in the future. The report noted that the pending decision has resulted in a dull market.
Interestingly, the SEC can extend the deadline of approving an ETF proposal filed on the federal register by a maximum of 240 days. This can happen if the agency decides to use all the extensions in the approval process.
On Aug. 8, the SECpostponed the decisionby extending the 45-day time period. Back then, the agency wrote that the final decision would arrive on Sept. 30. Since the decision was extended on Sept. 20, analysts expect the SEC to utilize all the extensions. If this happens, the final decision will arrive in late February.
The VanEck/SolidX BTC ETF has garnered support from many investors. But, the report concluded that bitcoin users should be prepared for both the decisions because if the proposal is rejected, “it could be one or two more years before another ETF is up for approval again given the current state of the underlying markets and the SEC’s thinking.”
Featured Image from Shutterstock. Charts fromTradingView.
The postBitcoin Market Has ‘Run Out of Juice’: Cryptocurrency Analystappeared first onCCN. || Crypto Steady as Bitcoin Hovers Around $6,600: Bitcoin was steady on Friday. Investing.com - Cryptocurrencies were mixed on Thursday, with Bitcoin inching forward and XRP pulling back from earlier gains. Bitcoin increased 2.13% to $6,663.30 on the Bitfinex exchange, as of 10:24 AM ET (14:24 GMT). Cryptocurrencies overall were slightly higher with the coin market cap of total market capitalization at $221 billion at the time of writing, compared to $218 billion on Thursday. Ethereum,or Ether, rose 3.31% to $226.04 and Litecoin was at $61.835, down 1.60% while XRP rose 1.08% to $0.53338. Meanwhile, a new aggregation tool will allow investors to trade digital currencies on platforms without creating an account. Known as Coinswitch, traders can compare exchange rates before they buy. The company serves as a noncustodial and investors only have to provide the address of wallets to trade coins. As trading platforms face increased scrutiny from regulators, traders and virtual currency companies are looking for ways to bypass increased Know-Your-Customer rules. In other news, Italy’s Member of Parliament Mirella Liuzzi will sign the European Blockchain Partnership, a collaboration of 26 EU countries, aiming to exchange information on technology. She said the government plans to hire talents in blockchain to develop a national strategy of the crypto-related sector. “Joining the partnership will allow Italy… to define its own line in the development of [blockchain] technology – a practice which the previous government had never implemented,” she said. The partnership started in April this year, first joined by 22 EU countries. Later it extended to include 26 countries with the entries of Greece, Romania, Denmark and Cyprus. Related Articles Drivechain for Bitcoin (BTC) to Replace Hard Forks with Sidechain Option Coinbase Launches A Suite of Services for Cryptocurrency Rookies Goldman Sachs Heads $25 Million Investment Round in Blockchain Startup Veem
[Random Sample of Social Media Buzz (last 60 days)]
#USDT
Buy at #BtcTurk and sell at #KuCoin. Ratio: 7.00%
Buy at #Koineks and sell at #KuCoin. Ratio: 7.15%
Buy at #Bittrex and sell at #Sistemkoin. Ratio: 4.72%
Buy at #Bittrex and sell at #KuCoin. Ratio: 12.46%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || Total Market Cap: $235,912,505,348
1 BTC: $7,247.72
BTC Dominance: 53.02%
Update Time: 03-09-2018 - 12:00:12 (GMT+3) || 2018-10-10 08:00:05 UTC
BTC: $6534.22
BCH: $511.84
ETH: $224.36
ZEC: $124.1
LTC: $57.47
ETC: $10.76
XRP: $0.4688 || 1 BTC = 27650.00000000 BRL em 14/09/2018 ás 21:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || 2018/09/25 00:00
#Binance 格安コイン
1位 #HOT 0.00000016 BTC(0.12円)
2位 #NPXS 0.00000023 BTC(0.17円)
3位 #BCN 0.00000035 BTC(0.26円)
4位 #DENT 0.00000036 BTC(0.27円)
5位 #NCASH 0.00000089 BTC(0.66円)
#仮想通貨 #アルトコイン #草コイン || BTC Price: 6466.32$,
BTC Today High : 6556.00$,
BTC All Time High : 19903.44$
ETH Price: 215.11$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/oi38HdAajo || Bitcoin: $6,374
+0.92% (+$58.00)
High: $6,404.43
Low: $6,300.00
Volume: 360
$BTC #BTC #bitcoin || 2018/08/30 15:00
#Binance 格安コイン
1位 #HOT 0.00000011 BTC(0.09円)
2位 #NPXS 0.00000026 BTC(0.2円)
3位 #BCN 0.00000029 BTC(0.23円)
4位 #DENT 0.00000040 BTC(0.31円)
5位 #SC 0.00000087 BTC(0.68円)
#仮想通貨 #アルトコイン #草コイン || 只今のレート
#BTC = ￥695,700↑
#日経225 = ￥22,192.45↑
#USDJPY = ￥110.00↑
#EURJPY = ￥126.72↑
#GBPJPY = ￥141.09↑
#金相場 = ￥4245↑(NY金より試算)
#株 #オフパコ
2018-08-21 12:01:03 || Sep 29, 2018 00:00:00 UTC | 6,621.70$ | 5,702.60€ | 5,081.50£ | #Bitcoin #btc pic.twitter.com/TNEmOHkeq4
|
Trend: down || Prices: 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
FOREX-Euro jumps after hawkish comments from ECB's Lagarde: * Euro jumps after ECB's Lagarde comments
* Fading risk appetite provides some support to dollar
* Sterling jumps after BoE raises rates
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Recasts, adds analyst comments, background)
By Stefano Rebaudo
Feb 3 (Reuters) - The euro jumped against the dollar on Thursday after comments from ECB president Christine Lagarde fuelled expectations of faster monetary policy tightening, although the central bank confirmed its guidance for interest rates and its bond purchase programme.
Lagarde acknowledged that inflation was running hotter than expected and with risks tilted to the upside, but continued to forecast it would ease through this year.
Asked if the European Central Bank was "very unlikely" to raise rates this year, Lagarde said it would assess conditions very carefully and be "data-dependent".
Euro zone money markets are currently pricing an 80% chance of a 10 bps hike in June and an almost 100% chance of 40 bps of hikes by year-end, from a 90% chance of 30 bps hikes before Lagarde's press conference.
“The ECB has today opened the door to market speculation for a tightening of its monetary policy,” Stefano Pesole, forex strategist at ING, said, adding that he sees the euro-dollar exchange rate in a range of $1.13-1.15 in the short term.
“The market is free to speculate that it might change guidance at its monetary policy meeting in March,” he added.
The euro was up 0.8%, hitting its highest level since January 18 at $1.1411.
Meanwhile, a slump in tech stocks on Wall Street soured risk appetite and provided some support to the dollar.
U.S. stock indexes opened lower on Thursday, with the Nasdaq diving more than 2%, as Facebook-owner Meta Platforms' dour forecast jolted the broader tech sector and threatened to upend a nascent recovery in stock markets.
The U.S. dollar index, which measures the greenback against six rivals, fell 0.5% to 95.513, after falling for three days in a row from around 97.3 on Monday.
Analysts think that the more significant challenge to the greenback has come from Europe as stubbornly high inflation is prompting a re-assessment of the ECB stance which is providing support to European currencies.
Sterling jumped versus the euro after the Bank of England raised interest rates to 0.5% on Thursday, and nearly half its policymakers wanted a more significant increase to contain rampant price pressures.
The British pound was up 0.6% at 83.78 pence versus the euro while rising 0.2% versus the greenback.
Bitcoin fell 0.9% to trade around $35,570, while ether, the world's second-largest cryptocurrency, was down 2.4% at $2,618. (Reporting by Stefano Rebaudo, Editing by Kirsten Donovan) || Payments Giant Block to Build Open-Source Bitcoin Mining System: Block, formerly known as payments company Square, is going ahead with its plan to build an open-source bitcoin mining system,according to a Tweetfrom Thomas Templeton, Block's general manager for hardware.
• “We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” Templeton tweeted.
• He also tweeted the company is open to making new ASICs (specialized bitcoin mining computers), and has started evaluating various IP blocks, open-source miner firmware and other system software offerings.
• Block has started hiring to build out a core engineering team.
• Previously, Block CEO Jack Dorsey tweeted on Oct. 15 that the company was planning to build a mining system based on custom silicon and open source for individuals and businesses worldwide.
• Dorsey has been an enthusiastic supporter of bitcoin, believing the cryptocurrencyhas great potential. || Crypto Advertising Just One Area of Focus for Regulators: Regulators have been back in action this week, with crypto exchanges once more a key area of focus.
As exchanges look to ramp up marketing campaigns to lure investors, regulators have been looking to stem the tide. A number of exchanges have been particularly active in ramping up marketing campaigns, drawing the attention of regulators.
In the 1stweek of the year,news had hit the wiresof the UK’s Advertising Standards Authority (ASA) banning two Crypto.com (CRO) ads.
The Singapore government also hit crypto exchanges with a ban on advertising. According tonewsat the start of the week, Singapore’s MAS imposed a blanket ban on digital payment token providers (DPTs) from marketing their services in public areas. In Singapore, public areas include social media platforms and print media as well as on public transport and transportation venues.
Following Singapore’s ban, the UK governmentannouncedplans to crackdown on “misleading” crypto ads. The latest move is reportedly to align crypto exchange advertising with the advertising requirements for mutual funds and other financial products.
Following Singapore’s ban and the UK government’s announcement,news hit the wiresof Spain’s CNMV rolling out new crypto ad rules, reportedly effective on 17thFebruary.
For both the UK and Spain, requiring strict rules in the advertising of riskier assets is aligned with the advertising of other financial products. This is unlikely to be considered punitive and should be seen as a natural progression for the crypto markets. Advertising laws for mutual funds and other financial products have continued to evolve over the years.
For the crypto markets, however, the greater concern will likely be over the marked increase in regulatory activity.
Late last year, theBank of Englandhad called for a global economic framework to address risks to financial stability. Earlier this year, theIMFechoed the Bank of England’s calls, talking of interconnectedness between the crypto and U.S equity markets.
At the start of the week, we also reported onnewsfrom DAVOS 2022. India’s prime minister Modi called for “global cooperation and a common approach towards addressing emerging challenges posed by cryptocurrencies”.
The latest clamp down and focus on advertising campaigns is likely stemming from calls by regulators to protect investors.
For crypto exchanges and the crypto markets, there will also be a likely increase in uncertainty to test support for the crypto majors.
At the time of writing, Bitcoin (BTC) was up by 0.15% to $42,435. Market reaction to the latest spate of regulatory activity has been relatively muted on Bitcoin. For the current week, Bitcoin is down by just 1.69%. Year-to-date, however, Bitcoin is down 8.28%, with crypto market sentiment towards FED monetary policy and regulatory activity weighing.
The losses are modest, however, when compared with the slump of 2018. Tomorrow’sUS Congress subcommittee hearing on cryptosmay have a greater impact, however…
Thisarticlewas originally posted on FX Empire
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• Gold Prices Slip as the Dollar Surges || ‘I'm 85 and made £40k on Bitcoin – but should I invest my grandchildren’s inheritance more sensibly?’: illo Trading in technology stocks and cryptocurrencies is not the preserve of the young. For Bengt Hallgren*, an 85-year-old pensioner living in Surrey, it was his first foray into investing, four years ago. “At first I dabbled in individual shares and Bitcoin,” he said. “I did very well with the latter and made £40,000. But I realised I needed to invest in something a bit more sensible, so I decided to focus exclusively on funds.” Now Mr Hallgren runs two portfolios, one he describes as cautious, and the other as more adventurous. Both have very strong biases towards American tech stocks, which cost him £5,000 in recent weeks because of market falls. “It’s too late to sell them now,” he said. “I want to stick with technology anyway because I am investing this money to pass down as inheritance to my four grandchildren. “I am comfortable taking on the risk. My question is whether my strategy is right for long-term growth.” Dan Boardman-Weston, chief investment officer at BRI Wealth Management, said: Mr Hallgren’s portfolio seems too cautious given that his main objective is to grow it for his grandchildren . While all the funds invest in shares, his big cash holding means his returns are lower. Given the recent volatility, Mr Hallgren should gradually invest the cash over the coming months. The portfolio is concentrated in US stocks, coupled with a significant amount in technology-focused funds. This leaves the portfolio relatively undiversified by geography and industry, which has likely led to quite a large loss in the past few weeks. We think that the majority of Mr Hallgren’s cash should be deployed elsewhere. I recommend that he adds the Liontrust Special Situations fund which will give him access to established, high-quality British companies and has delivered returns of 54pc over the past five years. Mr Hallgren can diversify his investments further by looking overseas and buying the FSSA All China fund which holds leading businesses in China , and the Man GLG Continental European Growth fund which invests in good companies across Europe . Story continues If he was still keen to have more growth-orientated investments, but slightly different themes, then the BB Healthcare Investment Trust , which invests in global pharmaceutical companies such as Bristol Myers Squibb, is a great choice. It will add a completely new industry to his portfolio, one that is uncorrelated to tech. It has returned 75pc in five years. David Henry, investment manager at Quilter Cheviot, said: Simplicity is underrated, so Mr Hallgren should start by combining the two portfolios given they both have the same objectives. He needs to resist looking only at sectors which have performed the best in recent years. We have been reminded once again of the dangers of chasing “hot” sectors, with former stock market darlings such as Zoom and Peloton dropping dramatically from their highs . Given Mr Hallgren’s laudable objective of passing these monies onto his grandchildren, the time could be right to take advantage of the current market pullback and invest the cash within both portfolios. I largely agree with Mr Hallgren’s tech-focused strategy, as these companies will often have strong defensibility as businesses, and attractive margins. That being said, I would advise that he looks to simplify his portfolios by focusing on just two technology funds. He should hold onto Scottish Mortgage , which has investments in many exciting growth companies , and Polar Capital Technology . This has a more general focus on the biggest names in the sector such as Apple and Microsoft. However, I would suggest that he allocates some of his cash to more “cyclical” sectors, those whose profits and fortunes are directly linked to the state of the economy, and to cheaper “value” stocks that are due a comeback as interest rates rise. The Schroder Recovery fund, managed by Kevin Murphy and Nick Kirrage, who also manage the Schroder Income fund which Mr Hallgren owns, would act as a natural counter to many of the more “growth” funds within the portfolio. It owns a number of companies which the managers regard as fundamentally undervalued often in more unfashionable sectors, such as oil and gas. *Some readers wish not to use their real name. They are marked with an asterisk. || Gold Breaks Out Above Trend Line Resistance Following Robust CPI: Gold prices increased, breaking out above trend line resistance. The dollar moved sharply lower, which helped buoy the yellow metal. U.S. Treasury yields were mixed as the 2-year yield continued to move higher and the 10-year edged lower. Consumer prices were roughly in line with expectations. The Fed Beige Book was released in the afternoon. Consumer spending grew at a modest pace. Optimism is high, but growth expectations have cooled. Employment grew modestly in recent weeks.
Gold pricesrallied for a 4th consecutive trading session. Prices broke out above resistance, which is now supported near a downward sloping trend line that comes in near $1,823. Additional support is seen near the 200-day moving average at 1,800. Resistance is seen near the January highs at 1,831. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index has generated a crossover buy signal. This situation occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).
On Wednesday, the U.S. Labor Department released its Consumer Price Index. Headline inflation at the consumer level was 7% year over year, which was in line with expectations. These figures were the highest level of inflation since 1982. On a monthly basis, CPI rose 0.5%. Expectations were for CPI to increase 7% on an annual basis and 0.4% from November.
Thisarticlewas originally posted on FX Empire
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• USD/CAD Declined Sharply Testing Key Support || LemonSwap sets for the Pre-Sale on Pinksale: WATFORD, UK / ACCESSWIRE / January 12, 2022 / Lemon Swap team is pleased to announce its Pre-Sale, which is set to take place on PinkSale next week. On the Binance Smart Chain (BSC), $LEMON Token is the next generation of reflection token, By offering rewards in multiple reward tokens to optimise user profits both now and in the future. $LEMON Tokens users will automatically receive a proportional share of 7% of every transaction in multiple rewards. This is automatically transferred to their wallet every 60 minutes, and it also gives users option to withdraw their tokens manually in other reward tokens. Lemon Swap Token Bridge Lemon Swap Token is the token which will bridge the gap between meme tokens and alt coins. It will have advantage as community is able to get rewards in 5 of the most favourite coins of the community (BTC, BUSD, BNB, CAKE & SHIB). Features Of Lemon Swap Use case like a functional swap and dashboard/Dapp already up and running and much more in development. Vesting and Anti-Dump Extra 2% sell fee: $LEMON sells are restricted to less than 0.5% of the total supply + extra 2% selling fee is applied to all sells to reduce arbitrage, swing-trading and whales dumps. Anti-Whale: The max supply a wallet can hold is capped at 0.5% of the total supply which helps counter dumping from big investors also known as whales. Lemon Swap Vision Lemon Swap token was created by team of 5 cryptocurrency enthusiasts who, like many other people, have been rugged / dumped on in other projects, so their mission was to create something which gives satisfaction to users by keeping everything transparent, by achieving this we will have another great use case for our coin, which will help us in reducing the quantity of coins from the market by manual buy back and burns. With the current Lemon Swap beta, we will be looking to test for bugs, functionality and look for ways to improve our UI for the best trading experience. Our Swap will continue to evolve as we test our beta and the updates will be added with the full launch of the Decentralized exchange. Story continues Supported Reward Tokens: Keeping BNB as default reward token, as users can get rewards automatically. Currently we have set our automatic rewards timer to distribute rewards every 60 minutes which may be changed according to community's demands and same will happen with anti-whale functions and maximum wallet transactions. Lemon Swap Token has a total supply of 1,000,000,000,000 (1 Trillion), from which 20% has been burnt already and tokens will be burnt manually as well by buying them back from the community to keep the price hyped. Buy Tax (10%): 7% of every BUY will be distributed towards holders 1% of every Buy will go towards Liquidity 1% of every Buy will go towards Marketing 1% of every Buy will go towards Dev wallet (which will be used for manual buy back / burns + for the ecosystem maintenance) Sell Tax (12%) 7% of every BUY will be distributed towards holders 2% of every Buy will go towards Liquidity 2% of every Buy will go towards Marketing 1% of every Buy will go towards Dev wallet (which will be used for manual buy back / burns + for the ecosystem maintenance) Transfers between wallets will suffer same Tax as BUY tax. Audit : https://github.com/ContractChecker/audits/blob/main/LemonSwapToken%20Audit%20Report%20-%20By%20ContractChecker.pdf Telegram: https://t.me/LemonSwapNet Twitter: https://twitter.com/LemonSwapNet Media Details Company Name: Lemon Swap Email: [email protected] Website: https://lemonswap.net/ SOURCE: Lemon Swap View source version on accesswire.com: https://www.accesswire.com/683170/LemonSwap-sets-for-the-Pre-Sale-on-Pinksale || Northern Lights Fund Trust Iii Buys BTC iShares MSCI USA Min Vol Factor ETF, Vanguard ...: Investment companyNorthern Lights Fund Trust Iii(Current Portfolio) buys BTC iShares MSCI USA Min Vol Factor ETF, Vanguard International Dividend Appreciation ETF, Vanguard S&P 500 ETF, Invesco S&P Global Water Index ETF, Vanguard Mega Cap Growth ETF, sells Invesco S&P 500 Equal Weight ETF, Vanguard Industrials ETF, Vanguard Health Care ETF, SPDR S&P Regional Banking ETF, iShares 0-5 Year TIPS Bond ETF during the 3-months ended 2021Q3, according to the most recent filings of the investment company, Northern Lights Fund Trust Iii. As of 2021Q3, Northern Lights Fund Trust Iii owns 43 stocks with a total value of $27 million. These are the details of the buys and sells.
• New Purchases:USMV, VIGI, MGK, TFLO, XLRE, NVDA, UNH, SCHD, ABB, DEO,
• Added Positions:VOO, CGW, VPU, VNLA, GOOG, VO, SOXX,
• Reduced Positions:VHT, KRE, STIP, IEFA, QQQ, FNCL, VDE, XLI, VTIP, XLB, FCOM, EZU,
• Sold Out:RSP, VIS, VDC, VNQ,
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For the details of Absolute Capital Asset Allocator Fund's stock buys and sells,go tohttps://www.gurufocus.com/guru/absolute+capital+asset+allocator+fund/current-portfolio/portfolio
These are the top 5 holdings of Absolute Capital Asset Allocator Fund
1. Health Care Select Sector SPDR (XLV) - 11,200 shares, 5.35% of the total portfolio. Shares added by 202.70%
2. BTC iShares MSCI USA Min Vol Factor ETF (USMV) - 19,200 shares, 5.29% of the total portfolio. New Position
3. Vanguard International Dividend Appreciation ETF (VIGI) - 15,100 shares, 4.94% of the total portfolio. New Position
4. Vanguard Consumer Discretionary ETF (VCR) - 3,700 shares, 4.30% of the total portfolio.
5. iShares Fallen Angels USD Bond ETF (FALN) - 38,100 shares, 4.30% of the total portfolio.
New Purchase: BTC iShares MSCI USA Min Vol Factor ETF (USMV)
Northern Lights Fund Trust Iii initiated holding in BTC iShares MSCI USA Min Vol Factor ETF. The purchase prices were between $73.5 and $77.99, with an estimated average price of $75.9. The stock is now traded at around $78.080000. The impact to a portfolio due to this purchase was 5.29%. The holding were 19,200 shares as of 2021-09-30.
New Purchase: Vanguard International Dividend Appreciation ETF (VIGI)
Northern Lights Fund Trust Iii initiated holding in Vanguard International Dividend Appreciation ETF. The purchase prices were between $86.36 and $93.03, with an estimated average price of $89.25. The stock is now traded at around $88.160100. The impact to a portfolio due to this purchase was 4.94%. The holding were 15,100 shares as of 2021-09-30.
New Purchase: Vanguard Mega Cap Growth ETF (MGK)
Northern Lights Fund Trust Iii initiated holding in Vanguard Mega Cap Growth ETF. The purchase prices were between $232.11 and $250.4, with an estimated average price of $241.87. The stock is now traded at around $252.610000. The impact to a portfolio due to this purchase was 1.76%. The holding were 2,000 shares as of 2021-09-30.
New Purchase: iShares Treasury Floating Rate Bond ETF (TFLO)
Northern Lights Fund Trust Iii initiated holding in iShares Treasury Floating Rate Bond ETF. The purchase prices were between $50.26 and $50.29, with an estimated average price of $50.28. The stock is now traded at around $50.260800. The impact to a portfolio due to this purchase was 1.32%. The holding were 7,000 shares as of 2021-09-30.
New Purchase: Real Estate Select Sector SPDR Fund (The) (XLRE)
Northern Lights Fund Trust Iii initiated holding in Real Estate Select Sector SPDR Fund (The). The purchase prices were between $44.45 and $48.73, with an estimated average price of $46.47. The stock is now traded at around $49.050000. The impact to a portfolio due to this purchase was 1.25%. The holding were 7,500 shares as of 2021-09-30.
New Purchase: NVIDIA Corp (NVDA)
Northern Lights Fund Trust Iii initiated holding in NVIDIA Corp. The purchase prices were between $181.61 and $228.43, with an estimated average price of $207.92. The stock is now traded at around $276.990000. The impact to a portfolio due to this purchase was 1.17%. The holding were 1,500 shares as of 2021-09-30.
Added: Vanguard S&P 500 ETF (VOO)
Northern Lights Fund Trust Iii added to a holding in Vanguard S&P 500 ETF by 154.55%. The purchase prices were between $390.68 and $416.73, with an estimated average price of $405.71. The stock is now traded at around $423.870000. The impact to a portfolio due to this purchase was 2.51%. The holding were 2,800 shares as of 2021-09-30.
Added: Invesco S&P Global Water Index ETF (CGW)
Northern Lights Fund Trust Iii added to a holding in Invesco S&P Global Water Index ETF by 133.78%. The purchase prices were between $53.85 and $60.56, with an estimated average price of $57.44. The stock is now traded at around $59.329900. The impact to a portfolio due to this purchase was 2.07%. The holding were 17,300 shares as of 2021-09-30.
Added: Vanguard Utilities ETF (VPU)
Northern Lights Fund Trust Iii added to a holding in Vanguard Utilities ETF by 130.00%. The purchase prices were between $139.14 and $152.64, with an estimated average price of $146. The stock is now traded at around $152.350000. The impact to a portfolio due to this purchase was 1.36%. The holding were 4,600 shares as of 2021-09-30.
Added: Janus Henderson Short Duration Income ETF (VNLA)
Northern Lights Fund Trust Iii added to a holding in Janus Henderson Short Duration Income ETF by 81.58%. The purchase prices were between $49.92 and $50.03, with an estimated average price of $49.96. The stock is now traded at around $49.805000. The impact to a portfolio due to this purchase was 1.17%. The holding were 13,800 shares as of 2021-09-30.
Added: Alphabet Inc (GOOG)
Northern Lights Fund Trust Iii added to a holding in Alphabet Inc by 50.00%. The purchase prices were between $2527.37 and $2916.84, with an estimated average price of $2756.72. The stock is now traded at around $2855.050000. The impact to a portfolio due to this purchase was 1%. The holding were 300 shares as of 2021-09-30.
Added: Vanguard Mid-Cap ETF (VO)
Northern Lights Fund Trust Iii added to a holding in Vanguard Mid-Cap ETF by 32.00%. The purchase prices were between $229.88 and $249.8, with an estimated average price of $241.7. The stock is now traded at around $246.090000. The impact to a portfolio due to this purchase was 0.71%. The holding were 3,300 shares as of 2021-09-30.
Sold Out: Invesco S&P 500 Equal Weight ETF (RSP)
Northern Lights Fund Trust Iii sold out a holding in Invesco S&P 500 Equal Weight ETF. The sale prices were between $146.61 and $157.39, with an estimated average price of $153.1.
Sold Out: Vanguard Industrials ETF (VIS)
Northern Lights Fund Trust Iii sold out a holding in Vanguard Industrials ETF. The sale prices were between $187.89 and $201.13, with an estimated average price of $196.14.
Sold Out: Vanguard Consumer Staples ETF (VDC)
Northern Lights Fund Trust Iii sold out a holding in Vanguard Consumer Staples ETF. The sale prices were between $179.22 and $189.21, with an estimated average price of $185.13.
Sold Out: Vanguard Real Estate Index Fund ETF (VNQ)
Northern Lights Fund Trust Iii sold out a holding in Vanguard Real Estate Index Fund ETF. The sale prices were between $101.78 and $110.92, with an estimated average price of $106.06.
Here is the complete portfolio of Absolute Capital Asset Allocator Fund. Also check out:1. Absolute Capital Asset Allocator Fund's Undervalued Stocks2. Absolute Capital Asset Allocator Fund's Top Growth Companies, and3. Absolute Capital Asset Allocator Fund's High Yield stocks4. Stocks that Absolute Capital Asset Allocator Fund keeps buyingThis article first appeared onGuruFocus. || Reaching $300 Billion and Influencing Crypto: A Look Back at the Year for Elon Musk: Action Press/Shutterstock Elon Musk showed his lighter side when he hosted “Saturday Night Live” in May. While there’s no word on how much NBC might’ve paid the billionaire boss of Tesla and SpaceX, the Sun reported that hosts can expect to walk away from the gig with a cool $5,000. Not bad for a single night’s work — for most people. Take a Look: Just How Rich Are Elon Musk, Donald Trump and These Other Big Names? Find Out: Here’s How Much You Need To Earn To Be ‘Rich’ in Every State Elon Musk is hardly most people. He built two of the most innovative, exciting and successful companies in the world, both of which have staked a claim to a sizable chunk of the future. Along the way, Elon Musk has become the richest man in the world — and 2021 was his career year. Here’s why. See: Jeff Bezos’ $5.5 Billion Space Flight and More Billionaire Spending in 2021 He Dunked on All the Other Billionaires As of Dec. 6, Forbes ranks Elon Musk as the richest person in the world by a mile with a net worth just shy of $266 billion. That’s $70 billion more than No. 2, Jeff Bezos’ $195.6 billion. For context, Michael Bloomberg — one of the 20 richest people in the world — has $70 billion in total. Not one member of the Walton family has as much money as the sea of cash that separates Musk and the next-richest billionaire. After adding $140 billion to his net worth in 2020 — he started 2020 with $30 billion, according to CNBC — Musk’s wealth continued to snowball throughout 2021. By the start of fall, Musk’s fortune was historically epic. At the end of September, Musk became the third person ever to cross the $200 billion mark, according to Forbes. By mid-October, CNBC was reporting that Musk was worth more than Warren Buffett and Bill Gates combined. By the end of October — just one month after eclipsing $200 billion — Musk crossed the $300 billion mark. A few days later on Nov. 1, Musk’s fortune was estimated at more than $335 billion — more than one-third of a trillion dollars. He was three times richer than Buffett, and 12 figures were needed to count the difference between Musk’s net worth and that of his next-closest rival. Story continues Year in Review: Take a Look Back at the Top Money Topics and Happenings of 2021 He Got Into the Rental Car Business On Oct. 26 — at the peak of his legendary Halloween run — Forbes reported that “Elon Musk has emerged as the richest person in the history of the world.” That day, Musk got $14 billion richer when Hertz announced it would be purchasing 100,000 rental cars from Tesla, mostly Model 3 sedans. It was a game-changing moment for the mainstreaming of EVs. The mega-order from Hertz, which started in 1918 renting out Ford Model Ts, represented the biggest purchase of electric cars in history, according to Bloomberg. For Tesla, the deal meant $4.2 billion in new revenue. Don’t Sink The Ship: 28 CEOs That Have Saved or Sunk Major Corporations He Found Himself in Charge of a $1 Trillion Company On Oct. 26, 2020, Tesla had a market cap of less than $400 billion. Exactly one year later to the day, Tesla joined the smallest and most exclusive fraternity in the corporate world when the company crossed $1 trillion in market cap. Amazon, Alphabet, Microsoft and Apple are the only other U.S. corporations that require 13 digits to measure their value. He Flexed His Crypto Clout Musk’s history of crypto-tweeting can be traced back to 2017, but throughout 2021, his power to move markets with just a few words on social media was put on display over and over again. At the end of January, Bitcoin shot up by 15% just minutes after Musk simply added “#Bitcoin” to his Twitter profile page, according to Bloomberg. He sent Dogecoin to a record high in February with a single tweet, but the real boost went to Bitcoin that same month. The original cryptocurrency shot up by a full 20% when Musk announced that Tesla was making a $1.5 billion investment in Bitcoin and that it planned to accept it as currency from car buyers. Just as he buoyed Dogecoin with support in February, he sent the altcoin’s price tumbling in May just by joking about it on “SNL,” according to Reuters. A few days later, he sank not only Bitcoin, but the entire crypto market when he tweeted that Tesla would cancel plans to accept Bitcoin over objections to the amount of energy that goes into mining it. Read More: 65 Splurges of the Filthy Rich He Won the Battle for Space Here on Earth When American astronauts return to the moon for the first time since 1972, it’s almost certain that they’ll get there in a spacecraft built by Elon Musk’s company. In April, NASA awarded SpaceX a contract worth nearly $3 billion to build a moonlander that Jeff Bezos desperately wanted for his Blue Origin rocket company. Bezos launched a series of lawsuits that sought to have the award overturned on the grounds that NASA awarded it unfairly — but Musk fought him off. In early November, a federal judge rejected the last of those challenges and SpaceX is moving forward with the lunar lander. Money Talks: Bill Gates and 15 More Rich People Who Won’t Leave Money to Their Kids So, What’s Next for the $300 Billion Man? It appears that the future belongs to Elon Musk both here and in space — and building electric cars and moon machines aren’t his only ventures. Also in 2021, CNBC reported on Musk’s plan to build Tesla Bot, a 5-foot-8-inch 125-pound humanoid robot that can lift 150 pounds and run 5 miles per hour. A prototype is planned for 2022. It’s also very possible that Elon Musk might soon look back and laugh at a time when the world thought $300 billion was a lot of money for one person to have. Barron’s recently laid out a compelling case for a near future where the success of Tesla and SpaceX combine to make Elon Musk the world’s first trillionaire. More From GOBankingRates The 5 Fastest Ways To Become Rich, According To Experts 21 Items That Are Always Cheaper at Costco 5 Easy Things You Can Do To Start Preparing For Retirement Now Should You Refinance Now With the Low Mortgage Rates? This article originally appeared on GOBankingRates.com : Reaching $300 Billion and Influencing Crypto: A Look Back at the Year for Elon Musk || Gold Prices Rise Slightly As Yields Surge: Gold prices edged higher, moving sideways. U.S. yields moved higher following a larger than expected job report. The dollar edged higher as yields popped, which capped upward movements in the yellow metal. Wages also climbed in the U.S., hitting the highest levels in more than a decade.
Gold pricesrallied, whipsawed, and traded sideways. Prices remain above support near the 50-day moving average at 1,802. Resistance is seen near the 10-day moving average at 1,811. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum is negative as the MACD (moving average convergence divergence) index has generated a crossover sell signal. This situation occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line). The MACD histogram prints in negative territory with a downward sloping trajectory pointing to lower prices.
Nonfarm payrolls rose more than expected in January, despite the spread of the omicron variant. The news follows a worse than expected ADP private payroll report, which showed declines in new jobs reported earlier in the week. According to the U.S. Labor Department, Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%. Expectations were for payrolls to rise by 150,000 and a 3.9% unemployment rate. Wages also rose sharply, accelerating 0.7%, in January and up 5.7% year over year.
Thisarticlewas originally posted on FX Empire
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• Is the “expect a Big Rally” in Bitcoin Here? || Global Crypto ATM Market Report 2022-2028: Market Value is Expected to Reach $1.88 Billion, Growing at a CAGR of 59.2%: Dublin, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The "Crypto ATM Market Size, Share & Trends Analysis Report by Type (One Way, Two Way), by Offering, by Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin), by Application, by Region, and Segment Forecasts, 2022-2028" report has been added to ResearchAndMarkets.com's offering. The global crypto ATM market size is expected to reach USD 1.88 billion by 2028, expanding at a CAGR of 59.2% from 2022 to 2028 The growth of the market can be attributed to the consistent increase in the number of new cryptocurrency users and the subsequent need for crypto ATMs to convert cryptocurrency into fiat money. According to the statistics provided by TripleA, a cryptocurrency payment company, there were about 300 million crypto owners worldwide as of 2021. Crypto ATMs offer several benefits to cryptocurrency users. They provide cryptocurrency users with easier trading options. Also, users are not required to set up an account or deal with long public keys. Rather, crypto ATMs automatically generate the receipt for transactions and these receipts contain both private keys and public keys in the form of QR codes. Several retailers are trying to provide crypto ATM services to their customers as part of the efforts to digitalize their offerings while enhancing customer experiences. For instance, in October 2021, Walmart announced a partnership with coin cashing machine company Coinstar and crypto-cash exchange provider Coinme. The partnership envisages Walmart installing 200 bitcoin ATMs in its store across the U.S. The outbreak of the COVID-19 pandemic is expected to play a decisive role in driving the growth of the market. Lower access fees and ease of access encouraged people to increasingly invest in cryptocurrencies during the COVID-19 pandemic. According to the U.S. Consumer Crypto Survey, 48% of Americans bought cryptocurrencies in H1/ 2021. Crypto ATM Market Report Highlights Story continues The one way segment dominated the market in 2021. The increase in demand for one way crypto ATMs among the customers due to its seamless transaction offerings accentuated the segment growth in 2021 The hardware segment dominated the market in 2021. Crypto ATM hardware providers are focusing on strategic partnerships and mergers & acquisitions to improve their product offerings The bitcoin segment dominated the market in 2021. The legalization of bitcoin across various countries worldwide propelled the growth of the segment in 2021 The restaurants and other hospitality spaces segment dominated the market in 2021. Several hotels worldwide are deploying crypto ATMs as part of the efforts to meet the changing needs of customers The increasing use of digital currencies in Asia Pacific countries, such as Australia, Thailand, and Taiwan is expected to drive the growth of the Asia Pacific regional market Key Topics Covered: Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 List of Data Sources Chapter 2 Executive Summary 2.1 Crypto ATM Market-Industry Snapshot & Key Buying Criteria, 2017-2028 2.2 Global Crypto ATM Market, 2017-2028 2.2.1 Global crypto ATM Market, by region, 2017-2028 2.2.2 Global crypto ATM Market, by type, 2017-2028 2.2.3 Global crypto ATM Market, by offering, 2017-2028 2.2.4 Global crypto ATM Market, by coin type, 2017-2028 2.2.5 Global crypto ATM Market, by application, 2017-2028 Chapter 3 Crypto ATM Market Industry Outlook 3.1 Market Segmentation and Scope 3.2 Market Size and Growth Prospects 3.3 Crypto ATM Market-Value Chain Analysis 3.4 Crypto ATM Market: Market Dynamics 3.4.1 Market driver analysis 3.4.1.1 Rising fund transfers in the developing countries 3.4.1.2 Increasing installations of crypto ATMs 3.4.2 Market challenge analysis 3.4.2.1 Security and data privacy concerns 3.5 Penetration and Growth Prospect Mapping 3.6 Crypto ATM Market-Porter's Five Forces Analysis 3.7 Crypto ATM Market-PESTEL Analysis Chapter 4 Investment Landscape Analysis 4.1 Key Investor Dashboard 4.2 Investors Vision & Goal Analysis 4.3 Investment Highlights 4.3.1 Top VC investors 4.3.2 Top deals of 2021 4.4 Investor Strategies Chapter 5 FinTech Industry Highlights 5.1 FinTech Ecosystem Overview 5.2 FinTech Services Overview 5.3 Total FinTech Investment, 2016-2020 (USD Billion) 5.4 FinTech Regulatory Outlook 5.4.1 Government Regulations 5.4.2 Private/Association Regulations 5.5 FinTech Company Analysis-GVR Dashboard (Top 50 companies) Chapter 6 Crypto ATM Machine Volume Analysis 6.1 North America 6.2 Europe 6.3 Asia Pacific 6.4 Middle East & Africa Chapter 7 Crypto ATM Market Type Outlook 7.1 Crypto ATM Market Share By Type, 2021 7.2 One Way 7.2.1 Crypto ATM market share by one-way type, 2017-2028 7.3 Two Way 7.3.1 Crypto ATM market share by two-way type, 2017-2028 Chapter 8 Crypto ATM Market Offering Outlook 8.1 Crypto ATM Market Share By Offering, 2021 8.2 Hardware 8.2.1 Crypto ATM market share by hardware, 2017-2028 8.3 Software Chapter 9 Crypto ATM Market Coin Type Outlook 9.1 Crypto ATM Market Share By Coin Type, 2021 9.2 Bitcoin 9.2.1 Crypto ATM market share by bitcoin, 2017-2028 9.3 Dogecoin 9.4 Ethereum 9.5 Litecoin 9.6 Others Chapter 10 Crypto ATM Market Application Outlook 10.1 Crypto ATM Market Share By Application, 2021 10.2 Commercial Spaces 10.2.1 Crypto ATM market share by commercial spaces, 2017-2028 10.3 Restaurants & Other Hospitality Spaces 10.4 Transportation Hubs 10.5 Standalone Units 10.6 Others Chapter 11 Crypto ATM Market Regional Outlook 11.1 Crypto ATM Market Share By Region, 2021 11.1.1 Crypto ATM market, 2017-2028 11.1.2 Crypto ATM market, by type, 2017-2028 11.1.3 Crypto ATM market, by offering, 2017-2028 11.1.4 Crypto ATM market, by coin type, 2017-2028 11.1.5 Crypto ATM market, by application, 2017-2028 Chapter 12 Competitive Analysis 12.1 Recent Developments & Impact Analysis, By Key Market Participants 12.2 Company Categorization 12.3 Vendor Landscape 12.3.1 Key company ranking/company market share analysis, 2021 12.4 Company Analysis Tools 12.4.1 Company Market Position Analysis 12.4.2 Competitive Dashboard Analysis Chapter 13 Competitive Landscape 13.1 Company overview 13.2 Financial performance 13.3 Product benchmarking 13.4 Strategic initiatives GENERAL BYTES s.r.o. Genesis Coin Inc. Lamassu Industries AG Covault Bitaccess Inc. Coinme Coinsource Coin ATM Radar Orderbob Cryptomat For more information about this report visit https://www.researchandmarkets.com/r/nd0joh CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 43840.29, 44118.45, 44338.80, 43565.11, 42407.94, 42244.47, 42197.52, 42586.92, 44575.20, 43961.86
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-08-29]
BTC Price: 9510.20, BTC RSI: 37.78
Gold Price: 1526.50, Gold RSI: 66.24
Oil Price: 56.71, Oil RSI: 54.48
[Random Sample of News (last 60 days)]
The blockchain/crypto week in quotes: “It’s way too expensive to do domestic payments. It’s way too slow, and that hurts consumers and businesses. It stifles innovation, and it’s far too expensive to send money cross-border, and there are huge financial inclusion issues related to that and costs related to that. So, while we are trying to address all these issues, we have to absolutely acknowledge the problem that they’re (Facebook) trying to solve. And if it’s not this, we’d better have some answers for what else it is.” Bank of England Governor Mark Carney “PayPal is f****d!” BitMEX CEO Arthur Hayes “Facebook cannot go forward without there being broad satisfaction with the way the company has addressed money laundering, all of those things. The number of concerns that I list at the beginning, data protection, consumer privacy, all of those things will need to be addressed very thoroughly and carefully.” Federal Reserve Chairman Jerome Powell I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity…. — Donald J. Trump (@realDonaldTrump) July 12, 2019 For the first time in history crypto twitter has finally been united with a common purpose. Thank you Mr. President. pic.twitter.com/gv3gmm3bU7 — Jared Tate (@jaredctate) July 12, 2019 “This is a reaction that anyone who believes in Bitcoin would expect – the highest government official on the planet in POTUS openly condemning cryptocurrencies as a vehicle for crime in order to protect the USD. There’s no hiding from the fact that cash and even gold and silver have been utilised for crime, completely untraceable, for thousands of years – yet cryptocurrencies are transparent in their very nature. Story continues Major banks are already integrating blockchain technologies to improve their processes and many are using forms for cryptocurrencies for cross border payments, increasing the speed and security, and reducing the cost of such transactions, which President Trump has not highlighted via Twitter. Bitcoin was created to provide anyone with a way to manage their own finances, make their own payments and store their own funds securely, all without central authorities or governments making huge profits, storing and selling data and being in complete control of our financial lives. The opinion of President Trump is no surprise as Bitcoin continues its strong position.” temtum Founder and CEO, Richard Dennis Trump tweets… BTC does nothing. Bitcoin is now less volatile than Donald Trump. — Erik Voorhees (@ErikVoorhees) July 12, 2019 “I want to give you my personal assurance that we are committed to taking the time to do this right” David Marcus, Head of Facebook’s crypto project, Libra I have been gifted $2,800 worth of Bitcoin. Thanks to all for your generosity. What should I do with my stash? 1. Use it now to buy 24 Karat gold jewelry at https://t.co/At4icF7p0A for my wife. 2. Ignore the FUD and HODL until Bitcoin moons and buy a Lambo for myself. — Peter Schiff (@PeterSchiff) July 10, 2019 “We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins. This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.” Charlie Lee, Creator of Litecoin and MD of the Litecoin Foundation Amazon was e-commerce, and now it’s just commerce. Today, Bitcoin is “digital gold,” but tomorrow it will be just Bitcoin. It won’t need to be analogized or require any qualifiers. — Cameron Winklevoss (@winklevoss) July 13, 2019 “London is – for the time being at least – the world’s largest and most important financial hub. But its dominance is fading as Brexit-Britain flounders in uncertainty. The growing cryptocurrency market has already provided tangible economic benefits to other major economies. Post-Brexit Britain will be uniquely placed to go even further and by embracing it, it could reboot the UK’s financial services sector.” Nigel Green, CEO, deVere Group “The nature of distributed ledger technology, as well as the characteristics associated with digital asset securities, may make it difficult for a broker-dealer to evidence the existence of digital asset securities for the purposes of the broker-dealer’s regulatory books, records, and financial statements, including supporting schedules. The broker-dealer’s difficulties in evidencing the existence of these digital asset securities may in turn create challenges for the broker-dealer’s independent auditor seeking to obtain sufficient appropriate audit evidence when testing management’s assertions in the financial statements during the annual broker-dealer audit. We understand that some firms are considering the use of distributed ledger technology with features designed to enable firms to meet recordkeeping obligations and facilitate prompt verification of digital asset security positions (e.g., regulatory nodes or permissioned distributed ledger technologies). Broker-dealers should consider how the nature of the technology may impact their ability to comply with the broker-dealer recordkeeping and reporting rules.” The US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) wow – this image of Deutsche Bank employees leaving the building with bitcoin emblazoned bags. i wonder if some day this image will be as iconic as the Lehman sign being taken off the building… h/t @coryklippsten https://t.co/7Asdxmmy2I pic.twitter.com/RQaOAN9gOH — Meltem Demirors (@Melt_Dem) July 8, 2019 “It’s out of the question to allow them (tech giants like Facebook) to develop in a regulatory void for their financial service activities, because it’s just too dangerous,. We have to move more quickly than we’ve been able to do up until now.” European Central Bank Executive Board member Benoit Coeure Working in the blockchain and crypto space it's so easy to take easy money from projects that are desperately in need of quality help. Your name will forever be attached to that project. Token holders will come for your blood when it goes south. #justdontdoit — Jon Walsh (@walshjonwalsh) July 8, 2019 “At the end of the day, there are many people who do believe in it (Bitcoin) and if it continues and grows, then I would probably have to be a buyer and be involved with this.” Mark Mobius, Co-founder and Partner, Mobius Capital Partners . @Nouriel was paid to be a punching bag. He behaved badly and looked like an ahole exactly as he was paid to do. Like @Frances_Coppola in the U.K., economists, in the age of #Bitcoin , can only survive by publicly humiliating themselves, hoping to sell a few pamphlets. https://t.co/Vf5Cl9xOdd — Max Keiser, tweet poet. (@maxkeiser) July 7, 2019 Visa works with the entire banking sector, but they – along with Paypal and Mastercard – are also major stakeholders in Facebook’s Libra payments project, which itself plugs into the banking system. These are not ‘competitors’. They are a quasi-cooperative oligopoly — Brett Scott (@Suitpossum) July 8, 2019 The post The blockchain/crypto week in quotes appeared first on Coin Rivet . || CME Bitcoin futures set new highs in June: CME bitcoin futures set multiple new records last month, with over 2,960 accounts trading BTC futures, according to a report fromCoindesk. The increased interest in BTC coincides with a surge of account sign-ups.
Nearly 1,000 new user accounts have been created in 2019, a 30 percent increase in total client sign-ups. The number of clients holding contracts worth at least 25 BTC bumped from the average of 46 to 49 during the last week of June, another record. Open interest also reached new heights in June, with 6,069 contracts.
Facebook's Libra announcement came towards the end of last month, possibly drumming up interest in crypto from traditional traders. However, its volatility makes futures a more palatable option, since they reduce risk and increase stability.
The price of BTC has fluctuated above and below $10,000, taking a steep pitch yesterday before rising once again above $10,000 in the following 24 hours. || Oil Price Fundamental Daily Forecast – API Data Expected to Show U.S. Crude Inventories Fell: U.S. West Texas Intermediate and international-benchmark Brent crude oil are trading slightly higher on Tuesday after posting a mixed performance earlier in the session. The price action, which has been bordering on rangebound the last three sessions, suggests investor indecision in response to the announcement of new tariffs by the United States last week, and yesterday’s retaliation by China. At 09:53 GMT, September WTI crude oil is trading $55.01, up $0.32 or +0.60% and October Brent crude oil is at $60.06, up $0.25 or +0.42%. Traders are attributing short-covering and profit-taking to the early strength on Tuesday, but gains are being capped by the escalating trade dispute between the United States and China. A rebound in demand for riskier assets on Tuesday, after China supported its currency, could be another reason underpinning crude oil prices. Furthermore, we could be looking at position-squaring ahead of Tuesday afternoon’s U.S. American Petroleum Institute weekly inventories report and Wednesday’s U.S. Energy Information Administration weekly inventories data. In other news, Iran on Monday said it will no longer tolerate “maritime offences” in the Strait of Hormuz, a day after it seized a second oil tanker near the strategic waterway that it accused of smuggling fuel. The move temporarily raised concerns about potential supply disruptions. Daily Forecast The key focus for traders continues to be the volatility in the financial markets caused by the heightened tensions between the U.S. and China. So the tensions in the Middle East could take a backseat on Tuesday. However, the tensions could move to the forefront if U.S. equity markets can hold on to their earlier gains in response to China’s support of its Yuan. This could underpin oil prices. We’re expecting to see a strong reaction at 20:30 GMT when the API releases its weekly storage report. It is forecast to show U.S. crude oil inventories fell for an eighth consecutive week. Story continues This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for August 6, 2019 Financial Markets Collapse Supports Bitcoin GBP/USD Daily Forecast – Recovery Extends to 1.2200 Handle What a time to be alive! Sharp, rapid movements on EUR/USD, SP500 and Gold! Markets Shudder as Trade Tensions Reach an Ear-Piercing Crescendo Grains Weak Amid China-US Trade War, Crop, Weather Conditions || Bilal Khalid Satoshi Nakamoto reveal fails to impress crypto community: On Sunday, we reported that the real Satoshi Nakamoto was about to reveal himself as the true inventor of Bitcoin . A company called Satoshi Nakamoto Renaissance Holdings claimed that this would happen in three instalments. It would include his real name, why he hasnt moved any of his 980,000 Bitcoin, country of origin, and his plans for a Bitcoin renaissance. And so to the big announcement
Bilal Khalid is Satoshi. He hails from Pakistan, resides in the UK and has changed his legal forename and surname to James Caan. In an online post he says: I am dedicating my comeback to Steve Jobs, a legend of our times who also thought differently and changed peoples lives. His name is synonymous with inspiration. Many in the crypto community are unimpressed, however. For those following along at home, here's the public WHOIS info from thebcci<dot>net in 2008. pic.twitter.com/dyVlzdgB2Q Riccardo Spagni (@fluffypony) August 18, 2019 Of course, an easy way to settle the whole Satoshi debate is to use a digital signature only the real creator would know. No one has so far, including Caan. A lot is potentially riding on this. The Bitcoin creator likely owns about $10 billion Bitcoins based on current prices, which would greatly influence the market. Caan claims that his Bitcoins were lost after a computer malfunction lead to a loss of his computer hard drive which stored them. My full legal name is James Bilal Khalid Caan. But I will forever be known as Satoshi Nakamoto, his online post concludes. File under damp squib, we say. The post Bilal Khalid Satoshi Nakamoto reveal fails to impress crypto community appeared first on Coin Rivet . || Dark Web Drug Dealer to Hand Over Bitcoin Millions After Plea Deal: A dark web drug dealer must forfeit $4 million in funds including bitcoin after pleading guilty to charges of money laundering and conspiracy to distribute controlled substances. According to a press release from the Attorney’s Office of the Southern District of New York on July 25, Richard Castro – who went by the pseudonyms “Chemsusa,” “Chems_usa,” “Chemical_usa” and “Jagger109” while conducting his illicit trade – is alleged to have sold carfentanil, fentanyl, and a fentanyl analogue called phenyl fentanyl on dark web markets including AlphaBay and Dream Market from November 2015 to March 2019. Castro is said to have accepted bitcoin as payment for the drugs and laundered the proceeds in different ways, including using bitcoin wallets and, curiously, by buying around “100 quadrillion Zimbabwe bank notes.” An alleged co-conspirator in the case, Luis Fernandez, shipped narcotics from locations including from New York City, the release says. Related: FBI Suspects Insider Trading in Long Island Iced Tea Blockchain Pivot Manhattan U.S. Attorney Geoffrey S. Berman said: “As he admitted today, for years, Richard Castro used the dark web to distribute prolific quantities of powerful opioids, including fentanyl and carfentanil. Castro thought he could hide behind the anonymity of the internet, and use online pseudonyms to deal drugs – like ‘Chems_usa’ and ‘Chemical_usa.’ Thanks to our law enforcement partners, ‘Chems_usa’ is now in U.S. prison.” In June 2018, according to the indictment details, Castro told customers he was moving his business off the dark web and would carry out his opioids trade via encrypted email. That proved to be his undoing. Using the “Chems_usa” pseudonym, he asked customers to pay a fee for the email address. However, Castro was caught and arrested after an undercover law enforcement officer paid the fee, was provided the encrypted email address and subsequently placed orders for drugs with Castro. Related: New Jersey Man Indicted Over Unlicensed Bitcoin Exchange Story continues On Dream Market, Castro is said to have boasted of completing over 3,200 transactions on the dark web. According to the release, Fentanyl is “significantly stronger” than heroin, while carfentanil is around 100 times stronger than fentanyl. It is even considered a chemical weapon . As part of the plea deal, Castro has agreed to hand over $4,156,198.18 in illicit earnings, including the contents of his seven different bitcoin wallets. Handcuffs and bitcoin image via Shutterstock Related Stories AT&T Fails to Win Dismissal in $24 Million Crypto SIM-Swap Lawsuit South Korea Estimates 2-Year Losses From Crypto Crimes at $2.3 Billion || Goldman Sachs Analysts’ Slide Suggests Now’s a Good Time to Buy Bitcoin: Market intel from Goldman Sachs suggests investors should capitalize on the current price dip and buy bitcoin.
In a series of slides prepared by a technical analysis team and sent out to some institutional clients, Goldman included one that said the short-term target for bitcoin (BTC) is $13,971 and that investors should consider buying on any dips in the current scenario.
The investment bank said that, based on itsElliott Waveanalysis, BTC would find support around $11,094, and that there’s scope for a move higher to $12,916, then $13,971.
Related:Bitcoin Price Faces Struggle to Hold Above $11K After Range Breakdown
“Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low,” the slide said.
It should be noted that the prices used for the analysis don’t include weekend prices and are likely from futures market data.
While this technical analysis seems bullish on bitcoin, Goldman Sachs’ former CEO and chairman has previously said bitcoin just isn’t his thing. Lloyd Blankfein said in an interviewlast Junethat bitcoin is “not for me … I don’t do it. I don’t own bitcoin.” (He retired at the end of last year.)
Related:Bitcoin in Tug of War Between Bulls and Bears as Trading Range Tightens
Rumors that Goldman would launch a crypto trading desk and custody service have been reportedlyput on holdover the uncertain regulatory scene in the U.S.
Goldman Sachs slide deckbyCoinDeskon Scribd
Edit(21:30 UTC, Aug. 12, 2019): Edited text to clarify that the intel came via a slide deck from a technical analysis team at Goldman, not a research note, and that Lloyd Blankfein is no longer CEO.
Goldman Sachsimage via Shutterstock; slide deck image via Goldman
• This Bank Gave Bitcoin to Its Entire Staff. Now It’s Taking Crypto Clients
• Bitcoin Outshines Gold Amid Risk Aversion in Financial Markets || Oil Price Fundamental Daily Forecast – Slight Rise Indicates Traders Downplaying Recession Concerns: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading better on Friday after gapping yesterday’s close. The markets are also in a position to close higher for the first week in three. An easing of concerns over a U.S. recession is helping to boost prices early today. At 08:09 GMT, October WTI crude oil is trading $55.15, up $0.73 or +1.38% and December Brent crude oil is at $57.90, up $0.56 or +0.98%. Early in the week, the markets were underpinned by optimism over potential production cuts by OPEC. Today, it’s better than expected U.S. retail sales data supporting prices. On Thursday, the U.S. reported that retail sales rose 0.7% in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, according to data that came a day after the 2-year/20-year U.S. Treasury yield inverted for the first time since June 2007 prompting a sell-off in stocks and crude oil. In other potentially supportive news, a Saudi official on August 8 indicated more steps may be coming, saying “Saudi Arabia is committed to do whatever it takes to keep the market balanced next year.” Helping to cap gains this week has been concerns over lower demand due to a weakening global economy. China reported a surprise drop in industrial output growth to a more than 17-year low. Additionally, a drop in exports sent Germany’s economy in reverse in the second quarter. Furthermore, for a second consecutive week, U.S. crude oil inventories unexpectedly rose according to the American Petroleum Institute (API) and the U.S. Energy Information Administration (EIA). Daily Forecast Today’s key reports include U.S. Building Permits, Housing Starts and the Preliminary University of Michigan Consumer Sentiment report. These reports could indirectly affect crude oil prices. If they come in better-than-expected then this will ease concerns about a recession, which could provide further support for prices. Story continues However, what bullish traders are really hoping for is a rise in U.S. Treasury yields and renewed strength in U.S. equity markets. This would send an even stronger signal that talk of a U.S. recession is a little premature. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – ECB Official’s Comments Sink Gold Price of Gold Fundamental Daily Forecast – Gold Firms on Falling Yields; Gains Capped by Strong Dollar PMI Numbers Sink the Kiwi, with Trade War Chatter in Focus European Equities: Trade Data and Geopolitics in Focus EUR Tango Down Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 16/08/19 || Australia’s Two Leading Blockchain Advocate Groups Announce Merger: Two groups seeking to promote blockchain technology in the Asia-Pacific have officially merged.
Announced July 22, the Australian Digital Currency Association (ADCA) and Blockchain Australia (BA) signed documentation that will see the two groups formally combine efforts under the BA logo and brand.
ADCA is the industry’s leading network for businesses seeking to implement blockchain solutions while BA is the industry body that represents domestic organizations participating in the crypto asset economy.
Bitcoin versus the Australian dollar viaCoinDesk data.
The announcement, as well as the unveiling of the group’s new logo, took place at the Annual APAC Blockchain Conference in Sydney.
Further, the news was presented by the assistant minister for Superannuation, Financial Services and Financial Technology, the Hon. Senator Jane Hume, demonstrating government support for the merger and future developments from the Australian blockchain community.
“I’m absolutely delighted to see that ADCA and BA have decided to merge, having a consistent and united voice advocating for the responsible adoption of blockchain technology,” Hume told attendees.“We need to recognize the potential for Australian blockchain businesses to tap into the demand that’s deriving from Asia’s growing middle class.”
The official merger was hosted by the Sydney Stock Exchange (SSX) and witnessed by directors and members from both organizations.
Nick Giurietto, CEO and managing director of BA, told CoinDesk:
“Bringing the two organizations together will allow the whole Australian blockchain community to speak more clearly and consistently to key stakeholders including governments and regulators and will strengthen the connections between all parts of the Australian blockchain ecosystem.”
“The merger of our two organizations creates a stronger and more united voice,” added Adam Poulton, director on the newly formed organization’s board.
Those involved in the new organization hope the merger will open pathways for greater opportunities and advancement in the APAC region.
Logo unveiling image via Annual APAC BlockchainConference || Bitcoins Lightning Network has grown nearly 100% in 2019: New research shows that the Lightning Network, a scaling solution for Bitcoin, is thriving, having nearly doubled its node count and capacity in the first six months of 2019. The new data , presented by crypto analytics firm CoinGecko, shows that network capacity for Bitcoins second layer protocol grew by 87% between January 1 to June 30. Meanwhile, its node count increased from 2,298 to 4,576 in the same time period. The rise in capacity and node count have come at a time which saw bitcoins price increase to nearly $13,000 by the end of June, following a slow start to the year. But data from search and analysis website 1ML suggest that things may not be so rosy, and that the number of Lightning channels and network capacity have dropped. Users have been swift to come to the Network's defence. One Reddit user stated that its simply FUD (fear, uncertainty, and doubt) and has zero impact on the network." Not only that, but it only shows information from public capacity, channels, and nodes, and doesnt include private channels. The user goes on to say that with public channels, the amount of capacity needed is just enough for a person to locate a path and make a payment, so there shouldn't be an issue. Lightning, while live, is still at an experimental stage, but is aiming for mainstream adoption in answer to demand for low-cost, off-chain transactions, and presents a solution to clear up the backlog of on-chain transactions bitcoin has struggled with in the past. || Bitcoin dominance up 100% since its all-time-low: Those holding out for altcoin season may have to wait a little longer. Bitcoin now boasts a market dominance of 66 percent, the highest since April 2017. Market dominance is a figure that represents how much money is held in bitcoin, compared to other cryptocurrenciesand is a measuring tool for assessing the relative health of other coins in the cryptocurrency ecosystem. Bitcoin hit its lowest market dominance at 33 percent, on January 8, 2018. At that time, one bitcoin was worth just shy of $16,000a big valuation doesnt not always equal ecosystem dominance. Over the last year and a half, however, while its price has been cut in half, its share of the market has doubled. This was likely due to the altcoin rally in late 2017 and early 2018, when investors went looking for the next big thing and poured millions into alternative projects. The alt bull run sent the market for alternative coins from $76 billion in total market cap to $495 billion in just under two months. But the boom times didnt last long. Many of the projects turned out to be duds, and some were just elaborate pump and dump schemes where a select few got rich by exploiting unwitting investors. Since then, the value of many altcoins has fallen dramaticallywith price drops ranging between 90 and an eye-watering 99 percent for many coins. In contrast, the price of bitcoin fell around 80 percent, before stablizing at $4,000. Recently it rallied above $13,000but is struggling to keep that momentum. In Facebooks hearings about Libra yesterday, the one thing missing was the word bitcoin. But by the look of things, its the one thing that matters.
[Random Sample of Social Media Buzz (last 60 days)]
Party just started in bitcoin remember to zoom out 😇... $BTC https://t.co/pwZa5Jf1dB || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Did you see that @SpaceX is sending the first #cryptocurrency to space and it is #aevocoin? Far out! $aevo $btc $xrp(#scam) || BTC
数日抵抗線として機能していた70万のラインを上抜けしました。
現状そのラインのサポート化に成功しているので、やはりまた時間をかけて上を目指しだすのかなという印象です。
それにしても70万前後のBTCの買い支えの強さは異常です。 || @pulte I have to pass on the bitcoin drawing. Yes, I am in need but others need that more and don't feel right. Good luck to winner || 取引所 BitMEX【買or売量】 🔴売り取引が15秒間で 582.51 BTC を超えました || https://t.co/rLtglKITpM
Long Bitcoin, short the bankers.
#djsbu @djsbu || IMF Guidelines For Cryptocurrency Adopted In Brazil #btc #blockchain #bitcoin https://t.co/1JOptY4KDp || Litecoin halving'e ne kadar kaldı?
0 gün, 23 saat, 35 dakika! || BUY BITCOIN NOW !!! - Established in London in 2013, CEXio the leading cryptocurrency exchange offers Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash, Dash and other trading options.
Click in the link
https://t.co/Q2cd11OoZp https://t.co/31LTzGYy8Y
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Trend: up || Prices: 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
How Much Debt Can a Country Handle?: As conventional wisdom grows that central banks can go more deeply into debt than previously thought, one economist asks, how much is too much? For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Nexo.io and this week’s special product launch LVL.co . Related: Bitcoin News Roundup for Dec. 14, 2020 Download this episode This week’s edition of Long Reads Sunday is a reading of “ How Much Debt Is Too Much? ” by Raghuram Rajan on Project Syndicate. In it, the author explores the shifting conventional wisdom on national debt and worries that countries may reach their limit far earlier than they think. See also: Luke Gromen on the History and (Declining) Future of the Global Dollar System Related: ‘COVID-19 Was a Catalyst’: Henri Arslanian on a ‘Game-Changing’ Year for Crypto and 10 Predictions for 2021 For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories How Much Debt Can a Country Handle? How Much Debt Can a Country Handle? || Feds seize $1 billion in Bitcoin from mystery man ‘X’: The U.S. Justice Department announced on Thursday it has seized nearly 70,000 Bitcoins from a person the agency would describe only as “Individual X.” The news is remarkable because of the value of Bitcoin seized—the haul is worth around $1.05 billion based on today’s Bitcoin price of $15,000—but also because of the timing and the mysterious nature of the seizure. According to a Justice Department complaint , the digital wallet holding the Bitcoins belonged to a hacker who stole them from the operator of the Silk Road, a notorious black market website that acted as a giant online bazaar for drugs and other criminal activity. The federal government took down the Silk Road and arrested its owner —who is now serving life in prison —in 2013. The Justice Department complaint says IRS agents reviewed the hacker’s activities earlier this year with the help of a cryptocurrency forensics firm. That firm, Chainalysis, published a blog post detailing how it analyzed the Bitcoin blockchain—a tamper-proof public ledger of transactions—to track the hacker’s activities. The blog post includes the graphic below, which shows the stolen Bitcoins moving to different wallets, including one transaction in which the hacker moved 101 Bitcoins to a now-shuttered criminal exchange called BTC-e: According to a person familiar with the investigation, the hacker’s robbery of Silk Road—which took the form of 54 transactions in less than 24 hours—took place in 2012. Meanwhile, the transfer of 101 Bitcoins took place in 2015, with no further transactions after that. This raises the question of why the so-called Individual X hasn’t touched any of the funds, even as Bitcoin has soared in price . There appear to be two possible explanations: The person is a wealthy individual who did not need to sell any of the Bitcoins, or else the person is in prison without access to a website needed to transfer the funds. The source familiar with the investigation said it is significant the complaint was filed in San Francisco, and that Individual X signed a consent decree. This implies the person in question is located in Northern California and is cooperating with law enforcement—as does the fact the Justice Department was able to seize the Bitcoin, which could only have occurred if the person provided the password or “private key” needed to transfer Bitcoin funds. Story continues As for why the Justice Department didn’t name the individual, the source speculated it was because the person could be at risk of violent retaliation from criminals tied to the Silk Road. “They’re not in the safest business in the world,” the source said. The Justice Department did not immediately respond to a request for comment as to whether Individual X is in prison. Nor did the agency state if a criminal complaint—as opposed to the civil one unveiled today—will be forthcoming. The lack of any criminal complaint may suggest Individual X is already incarcerated and may have agreed to turn over the Bitcoin as part of a cooperation arrangement with authorities. The Justice Department seized not only 69,370.22491543 Bitcoins from Individual X, but the same amount in three spinoff currencies known as Bitcoin Cash, Bitcoin Gold, and Bitcoin SV. Together, those other currencies are worth around $30 million. The government hasn’t announced what it will do with the seized Bitcoins, but in the past it has sold them though auctions run by the U.S. Marshals Service , with the proceeds primarily going to law enforcement agencies. More must-read finance coverage from Fortune : COVID-19 resurgence sets back Europe’s economic recovery hopes The U.S. economy is slowly beginning to climb out of its deep hole Stocks historically perform better under a divided Congress Theft of $2.3M from GOP shows how campaigns are juicy targets for hackers A journalist-turned-detective on how corporate America depends on private sleuths This story was originally featured on Fortune.com || NFL player ‘paid in Bitcoin’ as price nears $30,000: Carolina Panthers offensive tackle Russell Okung boasted on Tuesday that he is now receiving half of his $13 million NFL salary in Bitcoin. The arrangement involves Okung using a startup that converts payroll direct deposits into cryptocurrency and comes as Bitcoin shatters new price records. Okung used Twitter to declare he was being “paid in Bitcoin,” framing the development as a fulfillment of a 2019 wish. Paid in Bitcoin. https://t.co/Ey6oOcmLjA — russ (@RussellOkung) December 29, 2020 The price of Bitcoin currently floats around $28,000 —a once unthinkable mark for the digital currency, which surpassed the $20,000 milestone for the first time only two weeks ago. Bitcoin is famously volatile and has experienced numerous dramatic crashes, including in 2018 when it dropped to around $3,000 after hitting $19,000 months before. But Okung is hardly the first professional athlete to embrace digital currency. During the 2017 bull run, for instance, boxer Floyd Mayweather suggested he would change his nickname from “money” to “crypto.” Meanwhile, the CEO of Zap—the startup that arranged Okung’s Bitcoin deposits—told the trade publication CoinDesk that members of the New York Yankees and Brooklyn Nets have asked him about being paid in Bitcoin too. Like many other Bitcoin boosters, Okung has claimed the cryptocurrency is superior to traditional currencies because governments can’t deflate its value. You can make “x” a year and watch it slowly erode with inflation or you can protect your hard earned money with #bitcoin — russ (@RussellOkung) December 30, 2020 I’m freeing myself from fiat. You can too. — russ (@RussellOkung) December 29, 2020 Athletes are not the only converts to Bitcoin who have helped to define the current rally. In the last year, major companies like PayPal and Square have embraced the currency, as have billionaire investors like Ray Dalio and Paul Tudor Jones. This marks a change from 2017, when the traditional corporate and financial world largely shunned cryptocurrency. Story continues For Okung, the personal triumph of being “paid in Bitcoin” may offset a professional disappointment: His Carolina Panthers are 5-10 and officially eliminated from the upcoming NFL playoffs. More must-read finance coverage from Fortune : When to expect $600 checks and $300 enhanced unemployment payments A brief history of Bitcoin bubbles From Bitcoin to Asian tech stocks, these are the biggest winners and losers of the 2020 global markets The biggest business scandals of 2020 Under Biden, expect more scrutiny of Big Tech and mergers This story was originally featured on Fortune.com || Coinbase Goes Down as Bitcoin Nears $17K: The website and mobile app of U.S. cryptocurrency exchange Coinbase are down as bitcoin is nearing $17,000, within striking distance of its all-time high of $19,665 set in 2017. Update (Nov. 16, 22:35 UTC): According to the Coinbase status page , the incident was resolved at 22:27 UTC. According to a company update , a fix has been implemented and the company is “investigating this issue.” Coinbase has suffered a number of outages during busy trading periods this year including most recently on Oct. 27. The outage comes at a time when bitcoin has been fast approaching new highs not seen since Jan 7, 2018. At press time, bitcoin was at $16,834, up 6.27% over the last 24 hours. Read more: Coinbase Goes Down as Bitcoin Approaches 2019 Highs Related Stories Coinbase Goes Down as Bitcoin Nears $17K Coinbase Goes Down as Bitcoin Nears $17K Coinbase Goes Down as Bitcoin Nears $17K Coinbase Goes Down as Bitcoin Nears $17K || RSK Is Changing How It ‘Pegs’ Bitcoin to Its Sidechain: Bitcoin sidechain developer RSK is revamping how users swap bitcoin for its network’s tokenized version of the cryptocurrency. IOVlabs , the company that develops the RSK platform, has created a new system for monitoring how bitcoin is “pegged to” (or, swapped for) RBTC, a token that represents a 1-1 peg to real bitcoin. RBTC is the native coin on the RSK sidechain – a Bitcoin scaling solution that uses a blockchain-like network that sacrifices decentralization in favor of faster transaction speeds. Before this change, RSK users would send bitcoin to a multi-signature wallet address – a wallet controlled by 12 different parties. The “signatories” for this wallet would then approve the transaction and transfer the proportional RBTC to the user’s RSK wallet. Powpeg Related: How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations The new system, dubbed Powpeg, will supplant these with an automated process, and most of the 12 signatories will now act as “pegnatories,” a group of validators who will monitor the RSK multi-signature wallet and the minting of RBTC to protect against wrongdoing. Unlike the previous design, Powpeg automates the final step of the RBTC minting process. Now when users send bitcoin to the multi-sig wallet, they generate a proof of that transaction and then send this proof to “special-purpose hardware security modules called PowHSMs,” according to an IOVlabs press release. Once these modules receive the proof, they distribute the RBTC to the corresponding user. In the event the user does not reveal the proof, the pegnatories will provide the proof, but they do not manually sign off on the transaction; that’s the PowHSM’s job, which also stores the individual private keys for each signatory. Decentralizing how sidechains work RSK co-founder and IOVlabs Chief Innovation Officer Sergio Lerner told CoinDesk that miners, exchanges and mining pools will make up the first round of pegnatories. He also expects that the number of pegnatories “probably will grow in size in the months to come” since the “security risks associated with adding pegnatories are much lower than [signatories] in a federation.” Story continues Related: California Agency Backs Green-Energy Pilot Using RSK’s Bitcoin Smart Contracts IOVlabs says the design change was made to decentralize the pegging process for RSK and minimize the trust involved between the pegnatories and the users. The Powpeg redesign comes on the heels of IOVlab’s efforts to bring the utility of Ethereum’s DeFi apps to Bitcoin’s ecosystem. The RSK sidechain features a number of DeFi-like services, including the MakerDAO-like stablecoin platform Money on Chain and Sovryn , a Bitcoin lending and derivatives market. Launched in 2018, RSK is a Bitcoin sidechain which can support Ethereum smart contracts. The RSK sidechain is “merge mined” with Bitcoin, meaning miners who mine Bitcoin’s blockchain also contribute hash rate to mine blocks on RSK. According to IOVlabs, mining pools representing 50% of Bitcoin’s hashpower currently mine on the RSK chain. Related Stories RSK Is Changing How It ‘Pegs’ Bitcoin to Its Sidechain RSK Is Changing How It ‘Pegs’ Bitcoin to Its Sidechain || First Mover: Why Mohamed El-Erian Might Have Held Bitcoin at $19K: Bitcoin was lower, staying in the past week’s range of roughly $18,500 to $19,700. Prices are up 167% year to date, having started off 2020 at around $7,160.
“There is no doubt that $20,000 remains a barrier, both from a technical perspective and on an ideological level,” Simon Peters, an analyst for the trading platform eToro, wrote Monday in an email.
Intraditional markets, European shares fell, led by banks and retailers. U.S. stock futures pointed to a lower open as investors worried a coronavirus resurgence mightweigh on the economic recovery. The British pound slid 1.5% against the dollar onconcern Brexit talks might collapse. Gold weakened 0.4% to $1,831 an ounce.
Related:Crypto Funds Have Seen Record Investment Inflow in Recent Weeks
It’s the question everyone’s asking: Withbitcoinprices nearly tripling this year and reaching a new all-time high of $19,920, is it too late for investors to jump in, or is the rally just beginning?
“Attention is starting to shift towards analyzing where we are in the market cycle,” the cryptocurrency research firmCoin Metricswrote last week in a report.
None other than Mohamed El-Erian, chief economic adviser for the German financial firm Allianz, which has €2.3 trillion (US$2.8 billion) of assets under management,tweeted last weekthat he had sold bitcoin after buying some two years ago at $4,728. The original purchase was made “not on a deep analysis but rather on the basis of technicals” as well as to get “a feel for what’s becoming a more popular holding,” according to the tweet. The decision to sell was “again not based on any deep analysis,” he wrote. Based on a rough analysis by First Mover, El-Erian quadrupled his money on the round trip.
But one traditional finance guy using admittedly cursory analysis does not a market make. A lot of cryptocurrency analysts and investors are convinced that now’s not the time to take profits on bitcoin, even after itsmarket capitalizationsurged this year to more than $350 billion.
Related:Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M
Last week, Kraken Intelligence, a research unit of the digital-asset exchange Kraken, published results of a survey noting that clients expect an average bitcoin price of $36,602 in 2021, nearlydouble the current level.
As discussed previously in First Mover, one of the problems with valuing bitcoin is that the cryptocurrency was just invented 11 years ago, so there’s no deep history of reliable analytical factors to key off, such as the stock market’s price-to-earnings ratios, bond-market yield comparisons or even the supply-and-demand forecasts used in commodities.
So it’s impossible to say whether the latest price levels represent nosebleed levels or are more akin to an oxygen-rich hyberbaric chamber.
Greg Cipoaro, global head of research for NYDIG, an investment firm that recently raised $150 million for two new cryptocurrency funds, has authored areportarguing that growth in the Bitcoin network could justify a price range of $51,611 to $118,544 in five years.
The forecast relies on Metcalfe’s Law, whichaccording to Wikipedia, is attributed toRobert Metcalfe, an Internet pioneer who now serves as a University of Texas professor of innovation and entrepreneurship.
As summarized by Cipolaro, Metcalfe’s Law “states that a network’s value is proportional to the square of the number of its users.”
“Given our view that, as an emergent successful money, bitcoin’s fundamental value derives from its network effects, bitcoin’s value should roughly adhere to Metcalfe’s Law,” according to the NYDIG report. “This may be an important insight for investment professionals who, understandably, require anchoring around a fundamental valuation framework as a necessary component of their allocation diligence and analysis.”
So far, according to the report, the valuation metric appears uncannily accurate:
Of course, nobody knows the future, now matterhow confident they sound.
And Cipolaro’s price projection does require assumptions about how fast bitcoin’s network grows during the first half of the 2020s. Over the past 12 months, the number of Bitcoin addresses has grown by 18%. So he assumes growth rates of 5% to 25% over the coming years.
“The reality is that there are many potential future growth rates, and we truly have no idea where growth rates will land,” Cipolaro wrote. He added a “reminder that all models are wrong. Some are useful.”
With many investors now simply asking whether bitcoin’s failure last week to surpass $20,000 might be due topsychological factors, it can’t hurt to be aware of an analytical method that so far has worked pretty well.
– Bradley Keoun
Bitcoin’s price set anew all-time highat $19,920.53 last week. Since then, however, the oldest cryptocurrency has struggled to break above the $20,000 level.
The bull momentum has stalled with large sell orders capping the upside near $20,000, according to some analysts.
“People are trying to sell at this level based on what happened during the 2017 bull market,” Simon Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance told CoinDesk. Bitcoin peaked near $20,000 three years ago and fell as low as $6,000 by early February 2016. The bear market ended near $3,200 in December 2018.
Data extracted from the Bitcoin blockchain network backs Chen’s analysis. The number of accumulation addresses – a proxy for those who are buying and holding – has dropped to 495,000 from 514,000 over past four weeks, according to data source Glassnode. The decline suggests that some longer-term investors might be taking profits at these price levels.
Accumulation addresses are those that have at least two incoming “non-dust” transfers (representing minuscule amounts of bitcoin) and have never spent funds. The metric does not include addresses belonging to miners and exchanges and excludes addresses active more than seven years ago to adjust for lost coins.
The total balance held in these accumulation addresses has dropped to 2.72 million BTC, from more than 2.8 million BTC, in the past two weeks.
According to some analysts, the cryptocurrency needs to make a quick move above $20,000 to avoid a drawdown. “I think the longer bitcoin continues to reject $19,500 and $20,000 with whale-induced sell-offs, the probability of some more consolidation/correction increases in the near term,” market analyst Joseph Youngtweeted.
– Omkar Godbole
XRP(XRP): Coinbase to support Spark token airdrop to XRP holders (CoinDesk)
Ether (ETH):Grayscale’s Sonnenshein sees “growing conviction around Ethereumas an asset class.” (Editor’s note: Grayscale is a unit of Digital Currency Group, the owner of CoinDesk.)
Cardano(ADA): Blockchain project set for hard-fork upgrade tointroduce token-locking mechanism, in preparation for “Goguen” development phase integrating smart contracts.
Solana(SOL): Proof-of-stake network’sblock production halted due to bug, though later restarted successfully.
Binance expects to earn $800M to $1B this year, CEO Changpeng “CZ” Zhao tells Bloomberg (CoinDesk)
Standard Chartered, Philippines Bank issue $187M blockchain bond (CoinDesk)
U.S. House Financial Services Committee Chair Maxine Waters wants President-elect Joe Biden to rescind or monitor all cryptocurrency-related guidance issued by Office of the Comptroller of the Currency (CoinDesk)
India-based investors may soon have to pay taxes on returns earned from bitcoin investments (CoinDesk)
Apple co-founder Steve Wozniak’s new venture lists token WOZX to facilitate investments in energy efficiency projects via cryptocurrency and blockchain technology (CoinDesk)
Bitcoin miners saw 48% revenue increase in November, to an estimated $522M, according to Coin Metrics data (CoinDesk)
“We haven’t before had a technology with element-like properties, that emerged in a technology-rich era ripe for catalysts, at a time buffeted by so many other society-transforming trends and events,” CoinDesk Research Director Noelle Acheson writes in weekly column, arguing that another bitcoin can’t just be easily spun up (CoinDesk)
Biden says $1,200 stimulus checks “may be still in play” in coronavirus relief talks (CNBC)
JPMorgan analysts warn of crowded trades including shorting the U.S. dollar versus cyclical developed-market currencies, long copper and long bitcoin (Bloomberg)
“When it resumes, the market economy will decide which firms prosper and which fail,” former Bank of England Governor Mervyn King writes in op-ed (Bloomberg Opinion)
Burger King India’s initial public offering attracted over $9B in bids, according to exchange data (Reuters)
Climate change could cost Asia $8.5T in damage from natural disasters per year, studies show (Nikkei Asia Review)
U.S. economy adds 245K jobs in November, slowest month of growth since recovery began (Washington Post):
• First Mover: Why Mohamed El-Erian Might Have Held Bitcoin at $19K
• First Mover: Why Mohamed El-Erian Might Have Held Bitcoin at $19K || BIGG Digital Assets Inc. Purchases Additional 40 Bitcoins for Treasury; Total Bitcoin Treasury Reaches ~189.5 BTC: VANCOUVER, British Columbia, Dec. 08, 2020 (GLOBE NEWSWIRE) --BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that it has acquired 40 additional Bitcoins for long term treasury holding. BIGG purchased these Bitcoins for $24,854 CAD per BTC for a total of CAD $994,160.00.
This purchase, added to BIGG’s existing Bitcoin holdings, brings the treasury to ~189.5 Bitcoin, valued at CAD ~$4.65 million (USD ~$3.63 million) as of 4pm PST December 7th, 2020. BIGG believes strongly in the future of Bitcoin, its store of value capability, and its future valuation potential.
BIGG CEO, Mark Binns, remarks, “BIGG (formerly BIG Blockchain Intelligence Group) started accumulating Bitcoin as far back as 2015. Bitcoin has appreciated substantially as an asset class over 1, 2, 5 and 10 years horizons, and we believe the potential for impactful price appreciation is stronger today than ever. Institutional involvement and buying, and mainstream adoption, will continue to drive the price of Bitcoin as supply remains capped. We believe our Bitcoin holdings can act as self financing, over time, as we continue to expand our core crypto trading and blockchain forensic software businesses.”
On behalf of the Board
Mark [email protected]:+1.844.515.2646
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified®software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
For more information and to register to BIGG’s mailing list, please visit our website athttps://www.biggdigitalassets.com. Or visit SEDAR atwww.sedar.com.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release. || Bitcoin and Ripple’s XRP – Weekly Technical Analysis – December 14th, 2020: Bitcoin, BTC to USD, fell by 1.18% in the week ending 13thDecember. Partially reversing a 6.67% gain from the previous week, Bitcoin ended the week at $19,180.0.
It was a bearish week. Bitcoin rose to a Monday intraweek low $19,460.0 before hitting reverse.Falling well short of the first major resistance level at $20,179, Bitcoin slid to a Friday intraweek low $17,629.0.
The sell-off saw Bitcoin fall through the first major support level at $18,419 before finding support on the weekend.
A bullish weekend saw Bitcoin revisit $19,400 before ending the week at sub-$19,200 levels.
The pullback to sub-$19,400 levels left Bitcoin in the red for the week,
4 days in the red that included a 4.52% slide on Tuesday delivered the downside for the week. A 4.26% rally on Saturday and a 1.92% gain on Sunday pared some of the losses, however.
Bitcoin would need to avoid a fall through $18,756 pivot to support a run the first major resistance level at $19,884.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $19,460.
Barring an extended crypto rally, the first major resistance level and resistance at $20,000 would likely cap any upside.
In the event of another breakout, Bitcoin could test resistance at $20,500 before any pullback. The second major resistance level sits at $20,587.
Failure to avoid a fall through the $18,756 pivot would bring the first major support level at $18,053 into play.
Barring another extended sell-off, however, Bitcoin should steer clear of sub-$17,000 support levels. The second major support level sits at $16,925.
At the time of writing, Bitcoin was down by 0.16% to $19,148.5. A bearish start to the week saw Bitcoin fall from an early Monday morning high $19,180.0 to a low $19,008.3.
Bitcoin left the major support and resistance levels untested at the start of the week.
Ripple’s XRPtumbled by 17.78% in the week ending 13thDecember. Reversing a 2.69% gain from the previous week, Ripple’s XRP ended the week at $0.5131.
It was a bearish week. Ripple’s XRP rose to a Monday intraweek high $0.62469 before hitting reverse.
Falling short of the first major resistance level at $0.6931, Ripple’s XRP slid to a Saturday intraweek low $0.4800.
The reversal saw Ripple’s XRP slide through the first major support level at $0.5472 to visit sub-$0.50 levels. More significantly, Ripple’s XRP also fell through the 38.2% FIB of $0.5285.
On Sunday, a partial recovery to $0.51 levels reduced the deficit for the week.
5-days in the red that included an 8.16% slide on Tuesday and a 7.98% fall on Saturday did the damage. A 4.35% rally on Wednesday and a 1.25% gain on Sunday, eased some of the pain, however.
Ripple’s XRP would need to move through the 38.2% FIB of $0.5285 and the $0.5393 pivot level to support a run at the first major resistance level at $0.5985.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.55 levels.
Barring another extended crypto rally, the first major resistance level and resistance at $0.60 would likely cap any upside.
In the event of another breakout, the 23.6% FIB of $0.6274 resistance at $0.65 would likely come into play. The second major resistance level sits at $0.6840.
Failure to move through the 38.2% FIB and the $0.5393 pivot would bring the first major support level at $0.4538 into play.
Barring an extended crypto market sell-off, however, Ripple’s XRP should steer clear of sub-$0.40 levels. The second major support level sits at $0.3946.
At the time of writing, Ripple’s XRP was down 1.00% to $0.50796. A bearish start to the week saw Ripple’s XRP fall from an early Monday morning high $0.51316 to a low $0.50337.
Ripple’s XRP left the major support and resistance levels untested early in the day on Monday.
Thisarticlewas originally posted on FX Empire
• Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 14th, 2020
• Earnings to Watch Next Week: Lennar, FedEx, Darden Restaurants and Nike in Focus
• Brexit Update – Pound Jumps on an Agreement to Extend Talks
• Natural Gas Price Fundamental Weekly Forecast – Mixed 15-Day Forecast Could Trigger Short-Covering Rally
• The Week Ahead – Brexit, COVID-19, Monetary Policy, Economic Data, and Capitol Hill in Focus
• European Equities: Brexit News to Deliver Early Support || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / November 21, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
[["Digital Asset", "Pair", "Price", "24hr Chg", "7d Chg", "24/hr Volume", "MarketCap"], ["Bitcoin", "BTC/USD", "$18,560.67", "-$0.00", "$0.17", "$38,429 M", "$344,304 M"], ["Ethereum", "ETH/USD", "$537.96", "$0.05", "$0.18", "$19,715 M", "$61,070 M"], ["XRP", "XRP/USD", "$0.41", "$0.27", "$0.53", "$14,325 M", "$18,464 M"], ["Litecoin", "LTC/USD", "$84.90", "$0.02", "$0.36", "$6,482 M", "$5,596 M"], ["Bitcoin Cash", "BCH/USD", "$294.11", "$0.15", "$0.15", "$5,540 M", "$5,464 M"], ["Bitcoin SV", "BSV/USD", "$191.04", "$0.15", "$0.22", "$1,180 M", "$3,549 M"], ["EOS", "EOS/USD", "$3.13", "$0.12", "$0.24", "$5,430 M", "$2,936 M"], ["Monero", "XMR/USD", "$126.65", "$0.03", "$0.08", "$1,038 M", "$2,250 M"], ["Stellar", "XLM/USD", "$0.10", "$0.18", "$0.26", "$577 M", "$2,152 M"], ["Dash", "DASH/USD", "$90.34", "$0.08", "$0.18", "$605 M", "$888 M"]]
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. [email protected]
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SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/617852/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Market Wrap: Bitcoin Pushes Past $19.2K; Ether at 3% of BTC Price: Bitcoin climbed over the weekend to the $19,200 territory. Looking at ether’s price as a percentage of spot BTC, it may be undervalued. Bitcoin (BTC) trading around $19,196 as of 21:00 UTC (4 p.m. ET). Gaining 0.35% over the previous 24 hours. Bitcoin’s 24-hour range: $18,990-$19,323 (CoinDesk 20) BTC near its 10-hour moving average but above the 50-hour on the hourly chart, a flat-to-bullish signal for market technicians. The price of bitcoin reversed course over the weekend from a downward slide, with an upward trend that began on Saturday. “This weekend, bitcoin demonstrated a V-shaped reversal. After the appearance of such a figure, the growth usually continues,” said Constantin Kogan, a partner at investment firm Wave Financial. Related: DeFi on Bitcoin Gets a Boost as Sovryn Launches on RSK Sidechain Over the past 24 hours, the price hit a high of $19,323, according to CoinDesk 20 data, before settling around $19,196 as of press time. Read More: Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts “Quite a strong move over the weekend,” noted Chris Thomas, head of digital assets for Swissquote Bank. “I wouldn’t expect a continuation of 3%-4% a day. We’ll likely test the highs again in the next few days and will be met with a lot more sell orders [from] short- to medium-term whales and institutional traders.” After a higher-than-expected amount of volume over the weekend, including over $865 million in spot exchange volume Sunday for the eight exchanges tracked by the CoinDesk 20, Monday’s tally is looking lower, at $569 million as of press time. Related: Amid DeFi Hacks, Nervos and Cardano Join Forces to Improve Smart Contract Security “We still see the market challenging the all-time high but there is not a lot of conviction behind it. This can be seen in the lower volumes,” said Joel Edgerton, chief operating officer of cryptocurrency exchange Bitflyer USA. “December normally has lower volumes due to holidays and vacation among Western institutional clients.” Story continues Read More: MassMutual’s Bitcoin Buy May Presage $600B Institutional Flood: JPMorgan Fewer liquidations in the derivatives market is also helping bitcoin stay steadier. Stalwart futures platform BitMEX, for example, has seen liquidations, the platform’s equivalent of a margin call, dry up in the midst of its regulatory issues. The exchange’s influence in 2020 was previously obvious given the massive amount of sell liquidations that occurred in March when all markets crashed on macroeconomic issues related to the coronavirus. Since then, however, the BitMEX effect has waned. Bitcoin’s volatility has also flattened out of late, with the 30-day volatility as calculated by CoinDesk Research at 57%, close to where it started 2020 when it was at 53% Jan. 1. “There may be a few more attempts at the highs before the sellers disappear but, importantly, there is enough new volume on the buy side to keep us up around these levels and eventually buy all the sellers offers around $20,000,” added Swissquote’s Thomas. While bitcoin is up 166% so far this year, it’s ether that is going gangbusters in 2020, up over 346%. Cryptocurrency veterans like Henrik Kugelberg, an over-the-counter trader, expect occasional peaks and troughs while remaining steadfastly mega-bullish. “Correction of course,” he said, “on the way upwards on rocket fuel!” Ether at 3% of bitcoin’s price Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Monday, trading around $586 and climbing 0.14% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More: Mergers Position Yearn Finance as the Amazon of DeFi Ether’s price as a percentage of the spot value of bitcoin is hovering around 3% according to data aggregator Skew. This is after the native asset of the Ethereum network started the year at below 2% of the price per 1 BTC and going as high as 4% on Sept. 1 during the fervent period of popularity for decentralized finance, or DeFi, in 2020. John Willock, chief executive officer of Tritum, a diversified crypto services provider, is highly bullish on ether. He expects more institutional participation on the Ethereum network in 2021 and noted the increase in address activity in 2020 . “In the next six months, I think the most interesting metrics to follow will be large accumulations in addresses that can be attributed to institutional buyers soaking up supply, and proving long-term upward price expectations from educated participants,” Willock told CoinDesk. ”Things like [nonfungible tokens], DeFi and various other integrations this year that have utilized Ethereum as a layer but obfuscated it from users.” Other markets Digital assets on the CoinDesk 20 are mixed Monday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET): algorand (ALGO) + 1.4% cardano (ADA) + 1.2% cosmos (ATOM) + 1% Notable losers: xrp (XRP) – 3.5% omg network (OMG) – 3% 0x (ZRX) – 2.4% Equities: Asia’s Nikkei 225 closed in the green 0.30%, pushed higher by big gains from Chiyoda Corp. and Kawasaki Heavy Industries, Ltd., which both jumped over 11% Monday. The FTSE 100 in Europe ended the day slipping 0.23% as U.K. Prime Minister Boris Johnson cautioned businesses to prepare for a possible Brexit no-deal Dec. 31 . The S&P 500 in the United States slipped 0.60% as investors concerned with increasing coronavirus-related restrictions led to some selling . Commodities: Oil was up 0.78%. Price per barrel of West Texas Intermediate crude: $46.93. Gold was in the red 0.59% and at $1,828 as of press time. Treasurys: The 10-year U.S. Treasury bond yield fell Friday dipping to 0.898 and in the red 0.90%. Related Stories Market Wrap: Bitcoin Pushes Past $19.2K; Ether at 3% of BTC Price Market Wrap: Bitcoin Pushes Past $19.2K; Ether at 3% of BTC Price
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Trend: up || Prices: 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66
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